Homeowners Protection Act

$95.00

SKU: 10218 Category: Tag:

Description

Explains when the right to cancel PMI is permitted, the exceptions, disclosures, and notice requirement for borrower rights to cancel and terminate PMI, the basic disclosure requirements for lender-paid mortgage insurance, and the liability to borrowers if PMI is not canceled in accordance with the law.
What You’ll Learn
After completing this course, students will be able to:

  • Describe when PMI is required and when it must be cancelled
  • Explain borrower and servicer initiated requests for PMI cancellation and exceptions
  • Describe lender disclosure and notice requirements for borrower rights to cancel and terminate PMI
  • Explain the difference between Borrower paid mortgage insurance (BPMI) and Lender paid mortgage insurance (LPMI)
  • Additional information

    Audience

    Lenders, underwriters and anyone who takes credit applications, as well as back office staff responsible for mortgage disclosures.

    Credits

    0.75 CRCM, CFMP

    Member Price

    95.00

    Non-Member Price

    130.00

    Course Number

    ABA

    Location

    Online Self-Paced

    Vendor

    ABA

    Course Code

    ABA

    Prerequisites

    None

    Day

    Online

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