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Cancellation of Private Mortgage Insurance

2018-08-20

Regulatory Authority:

Credit Hours:

he Homeowners Protection Act of 1999 (amended in 2000) established requirements for when a lender must cancel private mortgage insurance (“PMI”). For banks, enforcement of the act was given to the various federal banking agencies, but interpretation of the act and the power to prescribe rules and regulation regarding the act were not assigned to any agency. Accordingly, the act stands on its own.

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