12 U.S. Code § 4910 - Construction

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(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.

Source

(Pub. L. 105–216, § 11,July 29, 1998, 112 Stat. 908.)

 

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