Title 12 — Banks and BankingRelease 119-73not60
§4910 Construction
Title 12 › Chapter 49— HOMEOWNERS PROTECTION › § 4910
Summary
The law does not require private mortgage insurance for home loans. Borrowers and lenders can agree to cancel that insurance earlier than the cancellation date the law sets.
Full Legal Text
Title 12, §4910
Banks and Banking — Source: USLM XML via OLRC
(a)Nothing in this chapter shall be construed to impose any requirement for private mortgage insurance in connection with a residential mortgage transaction.
(b)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.
Legislative History
Notes & Related Subsidiaries
Statutory Notes and Related Subsidiaries
Effective Date
Section effective 1 year after July 29, 1998, see section 13 of Pub. L. 105–216, set out as a note under section 4901 of this title.
Reference
Citations & Metadata
Citation
12 U.S.C. § 4910
Title 12 — Banks and Banking
Last Updated
Apr 3, 2026
Release point: 119-73not60