Homeowners Protection Act Policy
This Homeowners Protection Act Policy addresses measures a bank, credit union, fintech company, or other type of financial institution must take to ensure adherence to the Homeowners Protection Act (HPA). In general, the HPA applies primarily to residential mortgage transactions to finance the acquisition, initial construction or refinancing of a single-family dwelling that serves as a borrower’s principal residence.
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- Definitions – Topic 3
- Cancellation and Termination of PMI – Non-High-Risk – Topic 4
- Cancellation and Termination of PMI – High-Risk – Topic 5
- Disclosure and Notice Requirements – Residential Mortgage – Topic 6
- Notice Upon Cancellation or Termination of PMI – Topic 7
- Disclosure Requirements for Lender Paid Mortgage Insurance – Topic 8
- Civil Liability – Topic 9
- Audit Policy – Topic 10Staff Training – Topic 11
- Retention of Documentation – Topic 12
This Homeowners Protection Act Policy (approximately 11 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
Product Update Protection Plan
Ensure your purchase from BankPolicies.com remains current by adding a Product Update Protection Plan to your shopping cart. You’ll automatically receive an updated version via e-mail every time it’s revised, within one year from the last date of purchase.
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