Calif. Insurance Code §12640.09
Amended by A.B. 1645
Effective: January 1, 2018
Private mortgage insurers are permanently able to insure more than 30% of a first lien secured by a one-to-four unit property without obtaining reinsurance from another private mortgage insurer. The sunset date for this law has been repealed.
Editor’s Note – first tuesday covered the temporary removal of limitations in a prior Legislative Watch.