United States Code (Last Updated: May 24, 2014) |
Title 12. BANKS AND BANKING |
Chapter 49. HOMEOWNERS PROTECTION |
§ 4910. Construction
Latest version.
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(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.