§ 2700.325 - Termination of mortgage insurance.

Latest version.

The mortgage insurance coverage and the insured lender's obligation to remit mortgage insurance premiums to HUD with respect to an emergency mortgage relief loan or advance of credit shall be terminated upon whichever of the following first occurs:
(a) The emergency mortgage relief loan or advance of credit is paid in full;
(b) The lender acquires the mortgaged property securing the emergency mortgage relief loan or advance of credit and notifies HUD that no claim for insurance benefits has been or will be made;
(c) The homeowner and the lender jointly request termination; or
(d) The lender files an insurance claim pursuant to §2700.335.

                    
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