191—5.51 (535A) Definitions.
	 5.51(1) “Reporting financial institution” means a person which holds a certificate of authority to act as an insurer pursuant to any provision of Title XX, Iowa Code, if the person:
	  a.   	 At the beginning of a reporting period possessed assets in excess of $10 million; and
	  b.   	 During a reporting period received applications for mortgage loans on residential property situated in any Iowa city with a population in excess of 50,000, as determined in the most recent census, or in any standard metropolitan statistical area.
	 5.51(2) “Application” means an oral or written request for an extension of credit that is made in accordance with procedures established by a financial institution for the type of credit requested.
	 5.51(3) “Reporting period” means the calendar year beginning January 1, 1979, and each calendar year thereafter.
	 5.51(4) “Mortgage loan” means a mortgage loan as defined in Iowa Code section 535A.1, which is secured by a primary or secondary lien against residential property located in this state.
	 5.51(5) “Residential property” means real property used or to be used for residential purposes, including single family homes, dwellings for from two to four families and individual units of condominiums and townhouses.
	 5.51(6) “Residential mortgage loan” means a mortgage loan other than a construction loan, a home improvement loan or a rehabilitation loan.
	 5.51(7) “Construction loan” means a loan for a maximum of two years for the purpose of construction.
	 5.51(8) “Interest rate” means the rate stated on the indenture.
	 5.51(9) “Standard metropolitan statistical area” means an area located wholly or partly in the state of Iowa which is designated a standard metropolitan statistical area by the United States Department of Commerce.