Section R20-4-1809. Determining Loan Amounts

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The amount of a mortgage banking loan or a mortgage loan under

A.R.S. § 6-947(E) or 6-947(K), is the principal amount of the loan and does not include any points, interest, finance charges, insurance premiums of any kind, compensation paid to third parties, or com- pensation retained by a mortgage banker or its agents.

Historical Note

New Section adopted by final rulemaking at 5 A.A.R.

2094, effective June 10, 1999 (Supp. 99-2).

                    
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