• 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.

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  • Commissioner Gonzales Announces Weekly Formula Rate December 28, 2016

    Tuesday, December 27, 2016 | 7:30am

    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 December 27, 2016.

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  • Commissioner Gonzales Announces Weekly Formula Rate December 20, 2016

    Tuesday, December 20, 2016 | 10:24am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.55 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.55 percent as published by the Federal Reserve on December 19, 2016.

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  • Commissioner Gonzales Announces Weekly Formula Rate December 13, 2016

    Tuesday, December 13, 2016 | 8:24am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.50 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.50 percent as published by the Federal Reserve on December 12, 2016.

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  • Commissioner Gonzales Announces Weekly Formula Rate December 6, 2016

    Tuesday, December 06, 2016 | 9:11am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.50 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.50 percent as published by the Federal Reserve on December 5, 2016.

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  • Commissioner Gonzales Announces Maximum Effective Rate of Interest

    Tuesday, December 06, 2016 | 9:07am

    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, 2017 is 7.01 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 3.01 percent.

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  • Commissioner Gonzales Announces Weekly Formula Rate November 29, 2016

    Tuesday, November 29, 2016 | 10:23am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.50 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.50 percent as published by the Federal Reserve on November 28, 2016.

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  • Commissioner Gonzales Announces Weekly Formula Rate November 22, 2016

    Tuesday, November 22, 2016 | 10:27am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.50 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.50 percent as published by the Federal Reserve on November 21, 2016.

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  • Commissioner Gonzales Announces Weekly Formula Rate November 15, 2016

    Wednesday, November 16, 2016 | 9:51am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.50 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.50 percent as published by the Federal Reserve on November 14, 2016.

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  • Commissioner Gonzales Announces Weekly Formula Rate November 8, 2016

    Tuesday, November 08, 2016 | 10:21am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 7.50 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 3.50 percent as published by the Federal Reserve on November 7, 2016.

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