12 USC 4910: Construction
Text contains those laws in effect on September 6, 2024
From Title 12-BANKS AND BANKINGCHAPTER 49-HOMEOWNERS PROTECTION
§4910. Construction
(a) PMI not required
Nothing in this chapter shall be construed to impose any requirement for private mortgage insurance in connection with a residential mortgage transaction.
(b) No preclusion of cancellation or termination agreements
Nothing in this chapter shall be construed to preclude cancellation or termination, by agreement between a mortgagor and the holder of the mortgage, of a requirement for private mortgage insurance in connection with a residential mortgage transaction before the cancellation or termination date established by this chapter for the mortgage.
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Statutory Notes and Related Subsidiaries
Effective Date
Section effective 1 year after July 29, 1998, see section 13 of