12 U.S.C. § 4910: Construction

(a) PMI not requiredNothing in this chapter shall be construed to impose any requirement for private mortgage insurance in connection with a residential mortgage transaction. (b) No preclusion of cancellation or termination agreementsNothing in this chapter shall be construed to preclude cancellation or termination, by agreement between a mortgagor and the holder of the mortgage, of a requirement for private mortgage insurance in connection with a residential mortgage transaction before the cancellation or termination date established by this chapter for the mortgage.