24 CFR 266.606 - Mortgage insurance premium: Duration and method of paying.
(a) Duration of payments. Mortgage insurance premium payments must continue annually until one of the following occurs:
(1) The mortgage is paid in full;
(2) A deed to the HFA is filed for record;
(3) An application for initial claim payment is received by the Commissioner; or
(4) The Contract of Insurance is otherwise terminated.
(b) Method of payment. The HFA shall pay any mortgage insurance premium required by this part in cash.