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  • COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE FEBRUARY 4, 2020

    Tuesday, February 11, 2020 | 09:04am

    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 February 10, 2020.

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  • Commissioner Gonzales Announces Maximum Effective Rate of Interest

    Tuesday, February 04, 2020 | 09:46am

    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, 2020 is 6.04 percent per annum.

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  • COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE FEBRUARY 4, 2020

    Tuesday, February 04, 2020 | 09:40am

    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 February 3, 2020.

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  • COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE JANUARY 28, 2020

    Tuesday, January 28, 2020 | 10:48am

    NASHVILLE--Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.75 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 January 27, 2020.

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  • COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE JANUARY 22, 2020

    Wednesday, January 22, 2020 | 09:01am

    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 January 22, 2020.

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  • COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE JANUARY 14, 2020

    Tuesday, January 14, 2020 | 07:53am

    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 January 13, 2020.

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  • Commissioner Gonzales Announces Maximum Effective Rate of Interest

    Tuesday, January 07, 2020 | 10:25am

    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 January, 2020 is 6.19 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 2.33 percent.

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  • COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE JANUARY 7, 2020

    Tuesday, January 07, 2020 | 10:14am

    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 January 7, 2020.

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  • COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE DECEMBER 30, 2019

    Monday, December 30, 2019 | 04:04pm

    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 December 30, 2019.

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  • COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE DECEMBER 23, 2019

    Monday, December 23, 2019 | 04:04pm

    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 December 23, 2019.

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  • COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE DECEMBER 17, 2019

    Tuesday, December 17, 2019 | 03:55pm

    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 December 16, 2019.

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  • COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE DECEMBER 10, 2019

    Tuesday, December 10, 2019 | 09:30am

    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 December 10, 2019.

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  • Commissioner Gonzales Announces Maximum Effective Rate of Interest

    Tuesday, December 03, 2019 | 10:24am

    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 January, 2020 is 6.19 percent per annum.

    Read full story
  • COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE DECEMBER 3, 2019

    Tuesday, December 03, 2019 | 10:21am

    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 December 2, 2019.

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