§ 4910. — Construction.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC4910]
TITLE 12--BANKS AND BANKING
CHAPTER 49--HOMEOWNERS PROTECTION
Sec. 4910. Construction
(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.
(Pub. L. 105-216, Sec. 11, July 29, 1998, 112 Stat. 908.)
