Bulletin re: private mortgage insurance cancellation and termination
The Bureau of Consumer Financial Protection (CFPB) is issuing this compliance bulletin to
provide guidance to assist residential mortgage servicers and subservicers (collectively,
servicers) in their compliance with the private mortgage insurance (PMI) cancellation and
termination provisions of the Homeowners Protection Act of 1998 (HPA). This compliance
bulletin explains HPA requirements and describes examples from CFPB’s supervisory
experience of PMI cancellation and termination procedures that violate the HPA or create a
substantial risk of noncompliance.
CFPB Bulletin 2015-03