AZ HB2626

Requires lenders to attempt written contact with borrowers at least 30 days before recording notice of trustee's sale for owner-occupied residential properties with first deeds of trust recorded between January 1, 2003 and December 31, 2008.

Mandates that lender contact attempts be documented in writing and maintained in the credit file, with the purpose of exploring options to avoid foreclosure.

Exempts state or local public housing agencies, loans collateralized for securities purchased by such agencies, deeds of trust for five or fewer loans funded by a single lender in one calendar year, and lenders compliant with the U.S. Department of Treasury Home Affordable Modification Program.

Clarifies that servicers are not required to violate investor loan agreements or provide modifications, and beneficiaries need not violate agreements with federal or state regulatory agencies or federal law requirements.

Automatically repeals this section effective December 31, 2013.