Description
This course explains the Homeowners Protection Act, which requires mortgage lenders and servicers to cancel or terminate private mortgage insurance (PMI) in certain circumstances. It describes when PMI must be cancelled or terminated, and the related PMI disclosures consumers must receive and when they must receive them.
What You’ll Learn
After completing this course, students will be able to:
- Describe when PMI must be canceled or terminated
- Describe PMI disclosures customers must receive and when they must receive them
- Explain requirements for lender-paid PMI
