Plain Text Law

Regulation .11 Termination of Insurance.

Regulation .11 Termination of Insurance.Copy Citation

Maryland Housing Fund insurance coverage may be terminated by the Fund at its discretion under the following conditions:
A.
The lender requests in writing cancellation of the insurance;
B.
A claim is satisfied by the Fund;
C.
The mortgage loan is paid in full;
D.
A renewal premium is not paid after receipt of written notice from the Maryland Housing Fund;
E.
Failure of the lender to comply with these regulations, the servicing manual provided by the Fund, or the Fund's primary or pool insurance policy, as applicable;
F.
Modification of mortgage terms without the Fund's prior approval; or
G.
Other action with respect to a defaulted mortgage loan without the Fund's prior approval.