Before the team acts on a production meeting, the loan team must address Homeowners Protection Act PMI. Which response is most defensible?
Correct Answer
D) Check payment history and property-value conditions
HPA has separate borrower-requested, automatic, and final PMI termination rules. The best answer is "Check payment history and property-value conditions".
Why This Is the Correct Answer
HPA has separate borrower-requested, automatic, and final PMI termination rules. The best answer is "Check payment history and property-value conditions".
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