HOUSE DOCKET, NO. 3298        FILED ON: 1/14/2009

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3691

The Commonwealth of Massachusetts

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In the Year Two Thousand Nine

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An Act relative to private mortgage insurance and the affordable housing trust fund..

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

Section 3 of Chapter 121D of the General Laws, as appearing in the 2006 Official Edition, is hereby amended by inserting at the end of the section the following:-

(e) Persons or parties who are issued loans as part of the fund which exceed eighty per cent of the value of the real estate shall not be required to insure or guarantee the loan by a mortgage insurance company as otherwise required in Section 2 of 167E.