Disclosure requirements for lender paid mortgage insurance

For purposes of this section— Sections 4902 through 4904 of this title do not apply in the case of lender paid mortgage insurance. In the case of lender paid mortgage insurance that is required in connection with a residential mortgage transaction— not later than the date on which a loan commitment is made for the residential mortgage transaction, the prospective mortgagee shall provide to the prospective mortgagor a written notice— that lender paid mortgage insurance— The servicer of a residential mortgage transaction may develop and use a standardized form or forms for the provision of notices to the mortgagor, as required under subsection (c).