AZ HB2517

Amends Arizona law on deficiency judgments for mortgage and deed of trust foreclosures to limit recoverable deficiency amounts when an assignee (rather than original lender) completes the foreclosure.

For mortgage foreclosures under A.R.S. § 33-727, limits deficiency recovery to the amount the assignee paid for the mortgage assignment, minus the greater of fair market value or sale price.

For trust deed foreclosures under A.R.S. § 33-814, applies the same limitation: deficiency cannot exceed what the assignee paid for the deed of trust assignment, minus the greater of fair market value or sale price.

Applies these restrictions only when the foreclosing party is an assignee or otherwise not the original mortgagee or beneficiary on the original loan documents.