12 U.S.C. § 4910
Section 4910 · Construction
Viewing 12 U.S.C. § 4910 as in effect on July 29, 1998.
View current version →(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.