NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.75 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.75 percent as published by the Federal Reserve on November 12, 2019.

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 December, 2019 is 6.26 percent per annum.

NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.90 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.90 percent as published by the Federal Reserve on November 4, 2019.

NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 9.00 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 5.00 percent as published by the Federal Reserve on October 28, 2019.

Pursuant to Tenn. Code Ann. § 45-1-118(i), Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today the annual supervision fee for non-depository financial institutions in fiscal year 2019-2020, effective November 1, 2019. The fee is $1,025.00 for flexible credit licensees and mortgage licensees, and $625.00 for check cashing licensees, deferred presentment licensees, premium finance licensees, industrial loan and thrift registrants, and title pledge licensees. Money transmission licensees will continue to pay licensing and examination fees as required by statute. Mortgage loan originators will continue to pay a licensing and renewal fee of $100.00 and a sponsorship fee of $100.00.

NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 9.00 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 5.00 percent as published by the Federal Reserve on October 21, 2019.

NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 9.00 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 5.00 percent as published by the Federal Reserve on October 15, 2019.

Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 9.00 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 5.00 percent as published by the Federal Reserve on October 07, 2019.

NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 9.00percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 5.00 percent as published by the Federal Reserve on September 30, 2019.

NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 9.15 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 5.15 percent as published by the Federal Reserve on September 23, 2019.

NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 9.25 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 5.25 percent as published by the Federal Reserve on September 16, 2019.

NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 9.25 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 5.25 percent as published by the Federal Reserve on September 10, 2019.

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 October, 2019 is 5.96 percent per annum.

NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 9.25 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 5.25 percent as published by the Federal Reserve on September 3, 2019.

NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 9.25 percent per annum. The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 5.25 percent as published by the Federal Reserve on August 26, 2019.