The Homeowners Protection Act is US legislation associated with private mortgage insurance cancellation requirements.
The distinction that matters
It does not establish Australian lenders mortgage insurance cancellation or refund rights.
What to check
- Identify the mortgage jurisdiction.
- Read lender and insurer terms.
- Seek local advice about refunds.
Example to discuss
An Australian borrower asks the lender about the actual LMI arrangement rather than applying a US loan-to-value cancellation rule.
This is a hypothetical comparison, not a customer claim or a determination of cover.
Sources and further reading
General information only. The policy, schedule and applicable rules determine the actual position. For a personal decision, use an appropriately qualified adviser or the relevant provider.