AZ HB2703

Amends Arizona Revised Statutes Section 20-1549 regarding mortgage guaranty insurance policy forms and premium rates.

Requires mortgage guaranty insurers to file all policy forms, endorsements, and rates with the director pursuant to chapter 2, article 4.1.

Mandates that mortgage guaranty insurance policies for owner-occupied, single-family dwellings must provide that borrowers cannot be held liable to the insurance company for deficiencies arising from foreclosure sales.

Clarifies that premium charges for mortgage guaranty insurance policies are not considered interest or other charges under any law limiting interest or charges in connection with mortgage loans.

Requires each mortgage guaranty insurance company to adopt and make available a schedule of premium charges showing the entire amount of premium for each type of policy issued.