• Commissioner Gonzales Announces Weekly Formula Rate October 11, 2017

    Tuesday, October 10, 2017 | 8:01am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum.

    The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on October 10, 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 October 3, 2017

    Tuesday, October 03, 2017 | 2:11pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum.

    The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on October 2, 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, October 03, 2017 | 2:00pm

    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 November, 2017 is 6.82 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 2.82 percent.

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  • Commissioner Gonzales Announces Weekly Formula Rate September 26, 2017

    Tuesday, September 26, 2017 | 11:04am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum.

    The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on September 25, 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 September 19, 2017

    Tuesday, September 19, 2017 | 9:46am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum.

    The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on September 18, 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 September 12, 2017

    Tuesday, September 12, 2017 | 8:58am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum.

    The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on September 11, 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 September 6, 2017

    Wednesday, September 06, 2017 | 12:03pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum.

    The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 4.25 percent as published by the Federal Reserve on September 6, 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

    Wednesday, September 06, 2017 | 12:00pm

    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, 2017 is 6.74 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 2.74 percent.

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  • Commissioner Gonzales Announces Weekly Formula Rate August 29, 2017

    Tuesday, August 29, 2017 | 9:47am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum.

    The rate is based on a ceiling of 4.25 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on August 28, 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 August 22, 2017

    Tuesday, August 22, 2017 | 9:59am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum.

    The rate is based on a ceiling of 4.25 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on August 21, 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 August 15, 2017

    Tuesday, August 15, 2017 | 7:12am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum.

    The rate is based on a ceiling of 4.25 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on August 14, 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 August 8, 2017

    Tuesday, August 08, 2017 | 9:55pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum.

    The rate is based on a ceiling of 4.25 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on August 7, 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, August 08, 2017 | 9:45pm

    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 September, 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 August 1, 2017

    Tuesday, August 01, 2017 | 10:54am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum.

    The rate is based on a ceiling of 4.25 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on July 31, 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 July 25, 2017

    Tuesday, July 25, 2017 | 9:34pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.25 percent per annum.

    The rate is based on a ceiling of 4.25 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on July 24, 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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