View all text of Chapter 49 [§ 4901 - § 4910]
§ 4908. Effect on other laws and agreements
(a) Effect on State law
(1) In general
(2) Protection of existing State laws
(A) In general
(B) InconsistenciesA protected State law shall not be considered to be inconsistent with a provision of this chapter if the protected State law—
(i) requires termination of private mortgage insurance or other mortgage guaranty insurance—(I) at a date earlier than as provided in this chapter; or(II) when a mortgage principal balance is achieved that is higher than as provided in this chapter; or
(ii) requires disclosure of information—(I) that provides more information than the information required by this chapter; or(II) more often or at a date earlier than is required by this chapter.
(C) Protected State lawsFor purposes of this paragraph, the term “protected State law” means a State law—
(i) regarding any requirements relating to private mortgage insurance in connection with residential mortgage transactions;
(ii) that was enacted not later than 2 years after July 29, 1998; and
(iii) that is the law of a State that had in effect, on or before January 2, 1998, any State law described in clause (i).
(b) Effect on other agreements
(Pub. L. 105–216, § 9, July 29, 1998, 112 Stat. 906.)