Title 12, Banks and BankingRelease 119-110
§4910 Construction
Title 12 › CHAPTER 49 — HOMEOWNERS PROTECTION › § 4910
Summary
Private mortgage insurance (PMI) is not required for a home loan. A borrower and the mortgage holder can also agree to cancel PMI before the cancellation date set under the chapter.
Full Legal Text
Title 12, §4910
Banks and Banking, Source: USLM XML via OLRC
(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.
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
Sep 22, 2026
Release point: 119-110