Tenn. Comp. R. & Regs. 0780-01-27-.32
Any charges by whatsoever name or description collected by the association in connection with the making of a loan are called Initial Loan Charges in these regulations. Initial Loan Charges shall include commitment fees, placement fees, entrance fees, commissions, premiums, bonuses, points, service charges, and every other charge collected by the association by whatever name, now or hereafter devised, without the above enumeration being intended to be all inclusive. Except as hereafter specifically permitted, Initial Loan Charges shall be treated as deferred income and taken into income by the charging association ratably over the term of the loan or over the first seven (7) years of the loan, whichever is the less.
Tenn. Comp. R. & Regs. 0780-01-27-.32
Authority: T.C.A. §45-1303.