In general
Not later than 30 days after the date of cancellation or termination of a private mortgage insurance requirement in accordance with this chapter, the servicer shall notify the mortgagor in writing—
that the private mortgage insurance has terminated and that the mortgagor no longer has private mortgage insurance; and
that no further premiums, payments, or other fees shall be due or payable by the mortgagor in connection with the private mortgage insurance.
Notice of grounds
In general
section 4902 of this titleIf a servicer determines that a mortgage did not meet the requirements for termination or cancellation of private mortgage insurance under subsection (a) or (b) of , the servicer shall provide written notice to the mortgagor of the grounds relied on to make the determination (including the results of any appraisal used to make the determination).
Timing
Notice required by paragraph (1) shall be provided—
section 4902(a) of this title with respect to cancellation of private mortgage insurance under , not later than 30 days after the later of—
section 4902(a)(1) of this title the date on which a request is received under ; or
11 See References in Text note below. the date on which the mortgagor satisfies any evidence and certification requirements under section 4902(a)(3) of this title; and
section 4902(b) of this title with respect to termination of private mortgage insurance under , not later than 30 days after the scheduled termination date.
Pub. L. 105–216, § 5112 Stat. 903(, , .)
Editorial Notes
References in Text
Section 4902(a)(3) of this titlesection 4902(a)(4) of this titlePub. L. 106–569, title IV, § 404(1)(C)114 Stat. 2958, referred to in subsec. (b)(2)(A)(ii), was redesignated by , , .
Statutory Notes and Related Subsidiaries
Effective Date
section 13 of Pub. L. 105–216section 4901 of this titleSection effective 1 year after , see , set out as a note under .