As used in this article:
(a) “Subordinated loan” means a deferred payment mortgage loan, which is a second trust deed used in connection with other financing from the agency for the purpose of making the development of housing feasible where it would not be feasible without such loan. No loan shall be made pursuant to this article unless it is secured by a second trust deed.
(b) “Local agency” means a city, county, city and county, redevelopment agency, or housing authority.