A mortgage guaranty insurance company or any agent or representative of a mortgage guaranty insurance company shall not prepare or distribute or assist in preparing or distributing any brochure, pamphlet, report or any form of advertising to the effect that the real estate investments of any financial institution are "insured investments", unless the brochure, pamphlet, report or advertising clearly states that the loans are insured by mortgage guaranty insurance companies possessing a certificate of authority to transact mortgage guaranty insurance in this state or are insured by an agency of the federal government.

Terms Used In Arizona Laws 20-1544

  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage guaranty insurance: means insurance against financial loss by reason of nonpayment of:

    (a) Principal, interest or other sums agreed to be paid under the terms of any note or bond or other evidence of indebtedness secured by a mortgage, deed of trust or other instrument constituting a lien or charge on real estate if the improvement on such real estate is a residential building or a condominium unit or buildings designed for occupancy by not more than four families. See Arizona Laws 20-1541

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