To require the Bureau of Indian Affairs to process and complete all mortgage packages associated with residential and business mortgages on Indian land by certain deadlines, and for other purposes, section 2, Sec. 2.
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Mortgage package
The document says “means”Who acts: CongressHow: statuteSec. 2 in the PDF
What the document says
“The term ``mortgage package'' means a proposed residential leasehold mortgage, business leasehold mortgage, land mortgage, or right-of-way document submitted to an applicable Bureau office under section 3(a)(1).”
The term gathers the four kinds of document the Act puts on a clock, once one has been submitted to an applicable Bureau office.
What the document actually says
“The term ``mortgage package'' means a proposed residential leasehold mortgage, business leasehold mortgage, land mortgage, or right-of-way document submitted to an applicable Bureau office under section 3(a)(1).”
That sentence, in plain words
A mortgage package is a home loan, a business loan, a land loan, or a right of way paper. It has been sent to a BIA office.
What this is about
The law sets time limits for these packages. Section 3 says how long each step may take.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.
The quotation is the document's own words, exactly as printed, and we check the page
number against the Act itself before publishing. The paragraph underneath is our summary,
not the document's words. So is the plain English version, which is why it sits beside the
quotation rather than replacing it.
