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  • Commissioner Gonzales Announces Weekly Formula Rate March 21, 2017

    Tuesday, March 21, 2017 | 9:35am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.75 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.75 percent as published by the Federal Reserve on March 20, 2017.

    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 March 14, 2017

    Tuesday, March 14, 2017 | 10:00am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.75 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.75 percent as published by the Federal Reserve on March 13, 2017.

    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, March 07, 2017 | 2:42pm

    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 April, 2017 is 7.03 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 3.03 percent.

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  • Commissioner Gonzales Announces Weekly Formula Rate March 7, 2017

    Tuesday, March 07, 2017 | 2:40pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.75 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.75 percent as published by the Federal Reserve on March 6, 2017.

    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 February 28, 2017

    Tuesday, February 28, 2017 | 9:20am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.75 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.75 percent as published by the Federal Reserve on February 27, 2017.

    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 February 22, 2017

    Tuesday, February 21, 2017 | 9:38am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.75 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.75 percent as published by the Federal Reserve on February 21, 2017.

    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 February 14, 2017

    Tuesday, February 14, 2017 | 1:09pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.75 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.75 percent as published by the Federal Reserve on February 13, 2017.

    Financial Institutions |Formula Rates

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  • Commissioner Gonzales Announces Weekly Formula Rate February 7, 2017

    Tuesday, February 07, 2017 | 8:53am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.75 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.75 percent as published by the Federal Reserve on February 6, 2017.

    Financial Institutions |Formula Rates

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  • Commissioner Gonzales Announces Maximum Effective Rate of Interest

    Tuesday, February 07, 2017 | 8:51am

    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 March, 2017 is 7.08 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 3.08 percent.

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  • Commissioner Gonzales Announces Weekly Formula Rate January 31, 2017

    Tuesday, January 31, 2017 | 9:56am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.75 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.75 percent as published by the Federal Reserve on January 30, 2017.

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  • Commissioner Gonzales Announces Weekly Formula Rate January 24, 2017

    Tuesday, January 24, 2017 | 9:12am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.75 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.75 percent as published by the Federal Reserve on January 23, 2017.

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  • Commissioner Gonzales Announces Weekly Formula Rate January 18, 2017

    Tuesday, January 17, 2017 | 10:46am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.75 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.75 percent as published by the Federal Reserve on January 17, 2017.

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  • Commissioner Gonzales Announces Weekly Formula Rate January 10, 2017

    Tuesday, January 10, 2017 | 9:23am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.75 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.75 percent as published by the Federal Reserve on January 9, 2017.

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  • Commissioner Gonzales Announces Weekly Formula Rate January 4, 2017

    Wednesday, January 04, 2017 | 12:36pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.75 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.75 percent as published by the Federal Reserve on January 2, 2017.

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  • Commissioner Gonzales Announces Maximum Effective Rate of Interest

    Wednesday, January 04, 2017 | 12:30pm

    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 February, 2017 is 7.09 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 3.09 percent.

    Financial Institutions |Formula Rates

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