• Commissioner Gonzales Announces Weekly Formula Rate June 20, 2017

    Tuesday, June 20, 2017 | 1:01pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on June 19, 2017.

    Commissioner Gonzales said the rate remains in effect until the average prime loan rate as announced by the Federal Reserve Bank changes. 

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  • Commissioner Gonzales Announces Weekly Formula Rate June 13, 2017

    Tuesday, June 13, 2017 | 3:18pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on June 12, 2017.

    Commissioner Gonzales said the rate remains in effect until the average prime loan rate as announced by the Federal Reserve Bank changes. 

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  • Commissioner Gonzales Announces Weekly Formula Rate June 6, 2017

    Tuesday, June 06, 2017 | 12:09pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on June 5, 2017.

    Commissioner Gonzales said the rate remains in effect until the average prime loan rate as announced by the Federal Reserve Bank changes. 

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  • Commissioner Gonzales Announces Maximum Effective Rate of Interest

    Tuesday, June 06, 2017 | 12:03pm

    The Federal National Mortgage Association has discontinued its free market auction system for commitments to purchase conventional home mortgages. Therefore, the Commissioner of Financial Institutions hereby announces that the maximum effective rate of interest per annum for home loans as set by the General Assembly in 1987, Public Chapter 291, for the month of July, 2017 is 6.85 percent per annum.

    The rate as set by the said law is an amount equal to four percentage points above the index of market yields of long-term government bonds adjusted to a thirty (30) year maturity by the U. S. Department of the Treasury. For the most recent weekly average statistical data available preceding the date of this announcement, the calculated rate is 2.85 percent.

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  • Commissioner Gonzales Announces Weekly Formula Rate May 31, 2017

    Tuesday, May 30, 2017 | 8:15am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on May 30, 2017.

    Commissioner Gonzales said the rate remains in effect until the average prime loan rate as announced by the Federal Reserve Bank changes. 

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  • Commissioner Gonzales Announces Weekly Formula Rate May 23, 2017

    Tuesday, May 23, 2017 | 11:29am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on May 22, 2017.

    Commissioner Gonzales said the rate remains in effect until the average prime loan rate as announced by the Federal Reserve Bank changes. 

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  • Commissioner Gonzales Announces Weekly Formula Rate May 16, 2017

    Tuesday, May 16, 2017 | 9:25am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on May 15, 2017.

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  • Commissioner Gonzales Announces Weekly Formula Rate May 9, 2017

    Tuesday, May 09, 2017 | 2:34pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on May 8, 2017.

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  • Commissioner Gonzales Announces Maximum Effective Rate of Interest on Home Loans

    Tuesday, May 02, 2017 | 2:37pm

    The Federal National Mortgage Association has discontinued its free market auction system for commitments to purchase conventional home mortgages. Therefore, the Commissioner of Financial Institutions hereby announces that the maximum effective rate of interest per annum for home loans as set by the General Assembly in 1987, Public Chapter 291, for the month of June, 2017 is 6.96 percent per annum.

    The rate as set by the said law is an amount equal to four percentage points above the index of market yields of long-term government bonds adjusted to a thirty (30) year maturity by the U. S. Department of the Treasury. For the most recent weekly average statistical data available preceding the date of this announcement, the calculated rate is 2.96 percent.

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  • Commissioner Gonzales Announces Weekly Formula Rate May 2, 2017

    Tuesday, May 02, 2017 | 10:42am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on May 1, 2017.

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  • Commissioner Gonzales Announces Weekly Formula Rate April 25, 2017

    Tuesday, April 25, 2017 | 10:48am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on Aprill 24, 2017.

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  • Commissioner Gonzales Announces Weekly Formula Rate April 18, 2017

    Tuesday, April 18, 2017 | 1:38pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on April 17, 2017.

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  • Commissioner Gonzales Announces Weekly Formula Rate April 11, 2017

    Tuesday, April 11, 2017 | 2:02pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on Aprill 10, 2017.

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  • Commissioner Gonzales Announces Weekly Formula Rate April 4, 2017

    Tuesday, April 04, 2017 | 4:44pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on Aprill 3, 2017.

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  • Commissioner Gonzales Announces Maximum Effective Rate of Interest

    Tuesday, April 04, 2017 | 4:38pm

    The Federal National Mortgage Association has discontinued its free market auction system for commitments to purchase conventional home mortgages. Therefore, the Commissioner of Financial Institutions hereby announces that the maximum effective rate of interest per annum for home loans as set by the General Assembly in 1987, Public Chapter 291, for the month of May, 2017 is 7.0 percent per annum.

    The rate as set by the said law is an amount equal to four percentage points above the index of market yields of long-term government bonds adjusted to a thirty (30) year maturity by the U. S. Department of the Treasury. For the most recent weekly average statistical data available preceding the date of this announcement, the calculated rate is 3.0 percent.

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