
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 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.)
