• Commissioner Gonzales Announces Weekly Formula Rate June 6, 2017

    Tuesday, June 06, 2017 | 12:09pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on June 5, 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, June 06, 2017 | 12:03pm

    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 July, 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 May 31, 2017

    Tuesday, May 30, 2017 | 8:15am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on May 30, 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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  • Gonzales attended the Governors' Bill Signing Ceremony of the Tennessee Broadband Accessibility Act in Brownsville Tuesday, May 16 2017

    Thursday, May 25, 2017 | 3:38pm

    NASHVILLE – On Tuesday, May 16th, Tennessee Gov. Bill Haslam signed the bill for the Tennessee Broadband Accessibility Act at H&R Agri-Power in Brownsville. Haslam was joined by Senate Majority Leader Mark Norris (R-Collierville), Sen. Mike Bell (R-Riceville), Rep. David Hawk (R-Greeneville) and Brownsville Mayor Bill Rawls. Several state, county and city officials were also present.

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  • Commissioner Gonzales Announces Weekly Formula Rate May 23, 2017

    Tuesday, May 23, 2017 | 11:29am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on May 22, 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 May 16, 2017

    Tuesday, May 16, 2017 | 9:25am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on May 15, 2017.

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  • Commissioner Gonzales Announces Weekly Formula Rate May 9, 2017

    Tuesday, May 09, 2017 | 2:34pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on May 8, 2017.

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  • Commissioner Gonzales Announces Maximum Effective Rate of Interest on Home Loans

    Tuesday, May 02, 2017 | 2:37pm

    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 June, 2017 is 6.96 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 2.96 percent.

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  • Commissioner Gonzales Announces Weekly Formula Rate May 2, 2017

    Tuesday, May 02, 2017 | 10:42am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on May 1, 2017.

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  • Commissioner Gonzales Announces Weekly Formula Rate April 25, 2017

    Tuesday, April 25, 2017 | 10:48am

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on Aprill 24, 2017.

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  • Issues an Enforcement Action Against Ocwen Loan Servicing, LLC

    Thursday, April 20, 2017 | 2:37am

    Nashville – The Tennessee Department of Financial Institutions (“Department”) issued today an enforcement action against Ocwen Loan Servicing to prohibit the company from acquiring new mortgage servicing rights or originating mortgage loans in Tennessee until it provides the Department with a plan to demonstrate an ability to operate in a sound manner. The action is in conjunction with other actions by regulators around the country.

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  • Commissioner Gonzales Announces Weekly Formula Rate April 18, 2017

    Tuesday, April 18, 2017 | 1:38pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on April 17, 2017.

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  • Commissioner Gonzales Announces Weekly Formula Rate April 11, 2017

    Tuesday, April 11, 2017 | 2:02pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on Aprill 10, 2017.

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  • Commissioner Gonzales Announces Weekly Formula Rate April 4, 2017

    Tuesday, April 04, 2017 | 4:44pm

    NASHVILLE -- Tennessee Department of Financial Institutions Commissioner Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 8.0 percent per annum.

    The rate is based on a ceiling of 4.00 percent over the weekly average prime loan rate of 4.0 percent as published by the Federal Reserve on Aprill 3, 2017.

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