§ 9-903. Mortgage insurance premiums

Latest version.

If a savings and loan association holds a first mortgage on residential property, and the mortgage is partially insured by a private mortgage insurance company, the association shall eliminate all charges to the mortgagor for mortgage insurance premiums when the mortgage is reduced to the level at which the federal Homeowners Protection Act of 1998 requires termination of the private mortgage insurance insuring the mortgage.

HISTORY: An. Code 1957, art. 23, § 161LL-2; 1980, ch. 856; 1986, ch. 282; 1999, ch. 634.

                    
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