Section 266.606 - Mortgage insurance premium: Duration and method of paying(a)Duration of payments. Mortgage insurance premium payments must continue annually until one of the following occurs:(1) The mortgage is paid in full;(2) A deed to the HFA is filed for record;(3) An application for initial claim payment is received by the Commissioner; or(4) The contract of insurance is otherwise terminated.(b)Method of payment. The HFA shall pay any mortgage insurance premium required by this part in cash.59 FR 62524, Dec. 5, 1994, as amended at 85 FR 83440, Dec. 22, 2020