AZ SB1023

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 for owner-occupied, single-family dwellings, mortgage guaranty insurance policies must provide that borrowers are not liable to the insurance company for any deficiency from a foreclosure sale.

Allows mortgage guaranty insurance companies to adopt premium charge schedules that are not deemed to be interest or other charges under laws limiting interest in mortgage loan transactions.