The following terms and phrases - wherever they appear in this regulation- shall have the meanings assigned there to, unless the context requires otherwise:

Law: Real Estate Finance Law.

Regulation: Implementing Regulation of the Real Estate Finance Law.

SAMA: Saudi Arabian Monetary Agency.

PIF: Public Investment Fund.

Governor: Governor of SAMA.

Real Estate Finance: Extending credit to a borrower for the purpose of owning a dwelling.

Real Estate Finance Contract: A deferred payment contract extended to a borrower to own a dwelling.

Real Estate Finance Contractual Rights: cash flows, mortgages, collaterals and other rights arising under a Real Estate Finance Contract.

Transfer of Rights: transfer of a right to recover a debt or execute upon a mortgaged real estate, or any other right arising from a real estate finance contract.

Sector: Real Estate Finance sector.

Real Estate Finance Company: a joint stock company licensed to engage in real estate refinance activity.

Real Estate Finance Entity: Commercial banks and Real Estate Finance companies licensed to engage in Real Estate Finance activity.

Real Estate Refinance Company: a joint stock company licensed to engage in real estate refinance activities.

Originator: a Real Estate Finance entity originating a Real Estate Finance Contract

Borrower: a natural person who obtains Real Estate Finance.

Consumer: any person targeted by real estate finance services.

Housing Subsidy: a financial or credit subsidy provided by the government, housing societies, or the like to make housing affordable.

Real Estate Housing Finance Subsidized Product: a product subsidized by a housing subsidy provider through a real estate finance entity.

Secondary Market: trading of the rights of real estate finance entities resulting from primary market contracts.