Did the PMI requirement lower recently for banks to combat rates?

[Brett Foley]

Hi all!

I heard through the grapevine that mortgage banks are starting to lower the PMI requirement to 10% instead of 20% in order to combat the rising interest rates...? Wondering if there is any validity to this rumor.

I purchased in Boerne, TX with 15% down 4 months ago on a SFH rental prop and would love to see if I can get my PMI removed.

Any information proving/disproving would be great! And if it is true, would love to find out the best way to approach my lender to get this approved.

Thanks everyone!