If America's Community Bankers and the Mortgage Bankers Association of America are not careful, they could be mistaken for regulators. The groups issued guidelines last week explaining how to comply with the Homeowners Protection Act of 1998, which generally requires lenders to disclose information on private mortgage insurance and to terminate policies when owners build up sufficient equity.

"The guide will help both borrowers and lenders reduce the risk of misinterpreting the law," ACB president Paul A. Schosberg said.

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