请输入您要查询的单词:

 

单词 Homeowners Protection Act (HOPA)
释义

Homeowners Protection Act (HOPA)

Definition
Legislation passed in 1998 in response to abuses by some private mortgage insurance (PMI) issuers. In cases where home buyers wish to borrow more than 80% of the property value, they must usually purchase private mortgage insurance to reduce the lender's risk in case of default and foreclosure. However once less than 80% of the purchase price remains on the loan, there is no further need for the insurance. Yet some PMI companies continued to collect and pursue payments. HOPA requires PMI issuers to inform borrowers of their right to cancel after the 80% mark is passed, and to automatically cancel the insurance once only 78% remains. The act only affects homes purchased after July 29th 1999.
随便看

 

英汉经管词典收录了27404条经济管理类英汉双解词条,基本涵盖了经济学、管理学、金融学、会计学、证券期货、商务活动等领域的常用英语单词及短语词组的翻译及用法,是学习及工作的有利工具。

 

Copyright © 2000-2023 Newdu.com.com All Rights Reserved
更新时间:2025/5/9 6:08:28