Arizona § 20-1548 Underwriting discrimination

Arizona Statutes

§ 20-1548 — Underwriting discrimination

Arizona § 20-1548

Title 20Arizona Revised Statutes

Ch. 6PARTICULAR TYPES OF INSURANCE

Art. 8.Mortgage Guaranty Insurance

This text of Arizona § 20-1548 (Underwriting discrimination) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 20-1548 (2026).

Text

A.Nothing in this article shall be construed as limiting the right of any mortgage guaranty insurance company to impose reasonable requirements upon the lender with regard to the terms of any note or bond or other evidence of indebtedness secured by a mortgage or deed of trust, such as requiring a stipulated down payment by the borrower.

B.A mortgage guaranty insurance company shall not discriminate in the issuance or extension of mortgage guaranty insurance on the basis of the applicant's sex, marital status, race, color, creed or national origin.

C.No policy of mortgage guaranty insurance, excluding policies of reinsurance, shall be written unless the insurer shall have conducted a reasonable and thorough examination of:

1.The evidence supporting credit worthiness of the borrower.

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A. Nothing in this article shall be construed as limiting the right of any mortgage guaranty insurance company to impose reasonable requirements upon the lender with regard to the terms of any note or bond or other evidence of indebtedness secured by a mortgage or deed of trust, such as requiring a stipulated down payment by the borrower.

B. A mortgage guaranty insurance company shall not discriminate in the issuance or extension of mortgage guaranty insurance on the basis of the applicant's sex, marital status, race, color, creed or national origin.

C. No policy of mortgage guaranty insurance, excluding policies of reinsurance, shall be written unless the insurer shall have conducted a reasonable and thorough examination of:

1. The evidence supporting credit worthiness of the borrower.

2. The appraisal report reflecting market evaluation of the property and shall have determined that prudent underwriting standards have been met.