Tenn. Comp. R. & Regs. 0780-01-27-.15
Current through June 26, 2024
A fee collected by an association for its commitment to make a loan, by whatever name such charge may be known, shall be retained as a deferred credit by the association until the loan shall be made, when it shall be included in Initial Loan Charges as above provided. If the loan shall not be made for any reason, the association shall thereupon take into current income such amount of the fee as shall remain after such reimbursement as the commitment agreement may require.
Tenn. Comp. R. & Regs. 0780-01-27-.15
Authority: T.C.A. §45-1303.