20-1549. Policy forms and premium rates
filed
A. A mortgage guaranty insurer shall file all policy forms, endorsements and rates
a mortgage guaranty insurer proposes to use with the director pursuant to chapter 2,
article 4.1. With respect to owner-occupied, single-family dwellings, the mortgage
guaranty insurance policy shall provide that the borrower shall not be liable to the
insurance company for any deficiency arising from a foreclosure sale.
B. Each mortgage guaranty insurance company shall adopt, print and make available a
schedule of premium charges for mortgage guaranty insurance policies. Premium charges
made pursuant to the provisions of this article shall not be deemed to be interest or
other charges under any other provision of law limiting interest or other charges in
connection with mortgage loans. The schedule shall show the entire amount of premium
charge for each type of mortgage guaranty insurance policy issued by the insurance
company.
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