Homeowners Protection Act
8 min! Run Time
Employees
only
Provided
What you'll learn
Skills covered in this course
Description
The Homeowners Protection Act, also called the PMI Cancellation Act, protects homeowners from paying private mortgage insurance longer than the law requires.
What this course covers:
- The basics of private mortgage insurance (PMI)
- Methods for cancelling PMI at the 20% equity threshold
- Exceptions to PMI cancellation
- Required disclosures and civil liability for violations
Suited to mortgage servicers, lenders, and compliance staff.
System Requirements
See System Requirements in the Coggno Knowledge Base
Author
Frequently Asked Questions
It's also called the PMI Cancellation Act, and the course explains how it protects homeowners from paying private mortgage insurance longer than required.
The course covers methods for cancelling PMI at the 20% equity threshold, the trigger point set under the law.
Yes, the course covers exceptions to PMI cancellation that mortgage servicers need to know before processing a request.
Required disclosures and the civil liability that can result from violations, both covered in the course.
Mortgage servicers, lenders, and compliance staff responsible for PMI cancellation decisions.
