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.
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.
Pub. L. 105–216, § 11112 Stat. 908(, , .)
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 .