Private Mortgage Insurance Law and Legal Definition

According to 12 USCS § 4901 (13), [Title 12. Banks and Banking; Chapter 49. Homeowners Protection] the term private mortgage insurance means “mortgage insurance other than mortgage insurance made available under the National Housing Act, title 38 of the United States Code [38 USCS §§ 101 et seq.], or title V of the Housing Act of 1949 [42 USCS §§ 1471 et seq.].”