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.
Structure Maryland Statutes
Title 9 - Savings and Loan Associations
Section 9-902 - Notice of Rejection of Application for Residential Mortgage
Section 9-903 - Mortgage Insurance Premiums
Section 9-904 - Exemption From Blue Sky Law
Section 9-905 - Promotional Activities; Advertising
Section 9-906 - Loans Conditioned on Certain Transactions Prohibited
Section 9-908 - Termination of Certain Provisions of This Title
Section 9-911 - Persons Convicted of Crime
Section 9-912 - Civil Penalties; Directors, Officers, Employees, and Controlling Persons
Section 9-913 - Criminal Penalties
Section 9-914 - Withdrawing Funds From Failing Institution
Section 9-915 - Scope of Judicial Review
Section 9-916 - Indemnification Prohibition