Hospital Mortgage Insurance Act of 2003

Hospital Mortgage Insurance Act of 2003 - Amends the National Housing Act to revise hospital need and feasibility standards for purposes of hospital mortgage insurance eligibility. Directs the Secretary of Housing and Urban Development to: (1) require satisfactory evidence that the hospital will be located in a State or political subdivision with reasonable minimum licensure and operating standards; and (2) establish the means for determining hospital need and feasibility, including following State procedures in States that have such official procedures. (Eliminates State certificate of need or feasibility study requirements.)