(Definitions)
2. The terms used in the Regulations shall be defined as follows:
(1)“Financial institutions” shall include domestic banks, branches of foreign banks in Taiwan, credit cooperatives, Agricultural Bank of Taiwan, credit departments of farmers’ associations, credit departments of fishermen’s associations, Chunghwa Post Co., Ltd., and insurance companies.
(2)“Mortgage loans” shall include housing loans, land loans, unsold housing unit loans and idle industrial land mortgage loans.
(3)“Housing loans” shall include high-value housing loans and home loans.
(4)“High-value housing loans”shall mean mortgage loans extended by financial institutions to borrowers for purchasing houses (including the allotted land) of any of the following types where the building ownership certificates thereof contain the word zhu (住,“residential”):
a. Located in Taipei City with an appraised value or purchase price of NT$70 million or more;
b. Located in New Taipei City with an appraised value or purchase price of NT$60 million or more; or
c. Located in a domestic area other than Taipei City and New Taipei City with an appraised value or purchase price of NT$40 million or more.
(5)“Home loans” shall mean mortgage loans extended by financial institutions to borrowers for purchasing non-high-value houses (including the allotted land) where the building ownership certificates thereof contain word zhu (住, “residential”).
(6)“Land loans” shall mean mortgage loans extended by financial institutions to borrowers for purchasing land lots in a residential or commercial district demarcated in urban plans.
(7)“Unsold housing unit loans” shall mean mortgage loans extended by financial institutions to developers and secured by newly built unsold housing units (land allotments included).
(8)“Idle industrial land mortgage loans” shall mean mortgage loans extended by financial institutions to borrowers and secured by idle land in industrial districts.
(9)“Developers” shall mean entities engaging in real estate development activities, namely the investment and construction of real estate including land, buildings, and other structures, for sale purposes; or entities engaging in the construction of residential buildings in the building construction industry.
(10)“Newly built unsold housing units (including the allotted land)” shall mean houses (including the allotted land) built less than five years ago and maintaining the first registration of building ownership.
(11) “Idle industrial land” shall mean land listed on the Announced Inventory of Idle Land in Industrial Parks under the Jurisdiction of the Ministry of Economic Affairs as inquired by financial institutions of the Joint Credit Information Center (“JCIC”).
(12)“Borrowers” shall mean natural persons or corporations.