Finance
Washington's Homeowner's Protection Act (HPA) requires lenders to automatically cancel PMI when the loan reaches which LTV?
A75%
B78%✓ Correct
C80%
D85%
Explanation
The Homeowners Protection Act requires automatic PMI cancellation when the mortgage balance scheduled to reach 78% LTV (22% equity) based on the original amortization schedule. Borrowers can request cancellation at 80% LTV (20% equity).
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