In this chapter,
(1) “conventional loan” means a loan secured by a first mortgage on unencumbered real property or leasehold estate other than a loan guaranteed or insured by a federal agency;
(2) “department” means the Department of Commerce, Community, and Economic Development;
(3) “financial institution” means a thrift institution, a commercial bank, a trust company, or an insurance company;
(4) “mutual bank” means a mutual savings bank chartered under this chapter;
(5) “thrift institution” means a cooperative bank, a homestead association, a mutual savings and loan association, or a mutual bank.