Before the team acts on a servicing handoff check, an audit analyst must address Homeowners Protection Act PMI. Which response is most defensible?
Correct Answer
C) Cancel PMI at 80 percent if request conditions are met
HPA has separate borrower-requested, automatic, and final PMI termination rules. The best answer is "Cancel PMI at 80 percent if request conditions are met".
Why This Is the Correct Answer
HPA has separate borrower-requested, automatic, and final PMI termination rules. The best answer is "Cancel PMI at 80 percent if request conditions are met".
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