To amend the Homeowners Protection Act of 1998 to increase consumer protections relating to cancellation of private mortgage insurance.
Private Mortgage Insurance Cancellation Simplification Act of 1998 - Amends the Homeowners Protection Act of 1998 to apply the borrower termination and automatic cancellation provisions to high-risk loans.
Provides that, other than with respect to inconsistencies, such Act does not affect compliance with State laws regarding private residential mortgage insurance.
Introduced in House
Introduced in House
Referred to the House Committee on Banking and Financial Services.
Referred to the Subcommittee on Housing and Community Opportunity.
Sponsor introductory remarks on measure. (CR E1607)
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