What is purpose of Homeowners Protection Act?

The act protects homeowners by prohibiting life-of-loan PMI coverage for borrower-paid PMI products and establishing uniform procedures for the cancella- tion and termination of PMI policies.

What is homeowner protection?

What is the Home Ownership and Equity Protection Act? The Home Ownership and Equity Protection Act is a federal law that discourages banks and other financial institutions from predatory lending when they fund mortgages and home equity loans.

Who regulates the Homeowners Protection Act?

The Office of the Attorney General has the authority to handle complaints on behalf of homeowners who are denied certain rights under state and federal law. California Bureau of Real Estate – The agency safeguards public interests in real estate matters through licensure, regulation, education, and enforcement.

Can you sue someone for blocking your view?

View Ordinances A view ordinance typically allows a property owner who has lost his or her view due to an overgrown tree to sue the tree owner. Enforcing a view ordinance can take a long time, however, since the courts may be backlogged and any decision may be appealed.

Why did Congress pass the Homeowners Protection Act?

The Homeowners Protection Act of 1998 was passed by Congress to address borrowers’ difficulties in cancelling PMI when they had reached a certain level of equity in the property.

Is a mortgage broker a fiduciary?

A mortgage broker providing mortgage brokerage services to a borrower is the fiduciary of the borrower, and any violation of the broker’s fiduciary duties shall be a violation of the mortgage broker’s license law.

Can my Neighbour legally block my view?

There is no legal right to a view, but it may be possible to bring a claim against the owner of the neighbouring block if you can establish that you have a type of easement known as a “right to light”, and that the proposed extension would reduce the amount of light coming into your flat below a certain threshold.

What is a grudge fence?

A fence built not to any beneficial purpose but, rather, to annoy a neighbor. Related Terms: Fence, Nuisance, Abatement. In Brittingham, Justice Dufy held: “A landowner has a right to build a fence along the boundary or division line of his property; he has an inherent right to fence, or not.

Can banks waive PMI?

The lender will waive PMI for borrowers with less than 20 percent down, but also bump up your interest rate, so you need to do the math to determine if this kind of loan makes sense for you. Some government-backed programs don’t charge mortgage insurance.