reglab/housing_qa huggingface dataset:
TN Code § 47-28-109 (2021)
2021 Tennessee Code|Title 47 - Commercial Instruments and Transactions|Chapter 28 - Open-End Mortgages and Mortgages Securing Future Advances|§ 47-28-109. Increases or Advances Exceeding Contract Limits or Not Covered by Contract

 Notwithstanding the limitations specified in any mortgage, or imposed by a borrower by means of serving and recording a notice of limitation:   Any increase in the principal balance of an indebtedness secured by any mortgage as a result of negative amortization or deferred interest;   Any advance which the creditor is obligated under the terms of the mortgage or related agreement or undertaking to make to a third party, or any disbursement made by a creditor pursuant to the terms of the mortgage to protect the efficacy of the creditor's security, including, without limitation, payment of taxes, insurance premiums, or expenses incurred in making repairs to the property or in the collection of the debt or the enforcement of the mortgage;   Any advance made under a construction or home improvement loan agreement contained or referred to in the mortgage; and   Interest on such advances or disbursements,  shall be secured by the mortgage, even though the mortgage does not specifically provide for future advances, or the advances or disbursements cause the amount of the total indebtedness to exceed the principal amounts stated in the mortgage, or to exceed the credit limit under an open-end mortgage. The priority of the lien of the mortgage, including any advance, increase, or disbursement described in this section, shall be the same as if such advance, increase or disbursement was made on the date of the recordation of the mortgage.
TN Code § 47-28-110 (2021)
2021 Tennessee Code|Title 47 - Commercial Instruments and Transactions|Chapter 28 - Open-End Mortgages and Mortgages Securing Future Advances|§ 47-28-110. Applicability and Construction of Chapter

 This chapter applies to all loan or credit agreements and mortgages entered into from and after June 30, 1987. No provision herein shall be construed to:   Invalidate a provision of any mortgage or contract entered into prior to June 30, 1987;   Deny or curtail the right to a release of lien where the obligation it secures has been fully paid or satisfied; or   Deny or curtail the right to a partial release except in the case of an open-end mortgage.
TN Code § 47-29-101 (2021)
2021 Tennessee Code|Title 47 - Commercial Instruments and Transactions|Chapter 29 - Collection of Bad Checks|§ 47-29-101. Liability for Dishonored Check — Damages

  A person who, having executed and delivered to another person a check or draft drawn on or payable at a bank or other financial institution, with fraudulent intent, which may be inferred as provided by § 39-14-121, either stops payment on the check or draft, or allows the check or draft to be dishonored by a financial institution because of lack of funds, failure to have an account, or lack of an authorized signature of the drawer or necessary endorser, is, if found liable to the holder on the check or draft in a civil action, liable for:  The face amount of the check dishonored;   Interest at the rate of ten percent (10%) per annum on the face amount or the remaining unpaid balance of the check or draft from the date of its execution until payment is made in full;   Any reasonable service charges incurred by the payee in attempting to obtain payment by the bank or other financial institution;   Court costs incurred in bringing the civil action which is brought by the holder to collect on the check or draft; and   Reasonable attorney fees incurred by the holder.     This section does not apply to a person who has so allowed a check or draft to be dishonored if, within ten (10) days after the holder has given notice that the check or draft has not been paid by the financial institution, the person pays to the holder the full amount of the check or draft. Such a payment is effective for all purposes as of the date it is made.   For purposes of this section, notice that a check or draft has not been paid by the financial institution is considered as having been given at the time that the notice was deposited in the regular United States mail, if the notice was addressed to either:  The address printed on the check or draft; or   The address given by the person in writing to the payee or holder at the time the check or draft was issued or delivered.     If the person who executed and delivered the check does not pay to the holder the full amount of the check or draft within thirty (30) days following certified mailing of written notice that the check or draft has not been paid and that treble damages will be sought, upon finding of fraudulent intent, the person is liable for, and the court shall award judgment for, treble the face amount of the check or draft. However, the amount awarded in addition to the face amount of the check or draft may not exceed five hundred dollars ($500).   A person must elect whether to pursue the claim either under this section or under title 39, chapter 14, part 1.   Subsection (d) does not apply to a person who has allowed a check or draft to be dishonored because of lack of funds, if that person reasonably believed that there were sufficient funds in the account to cover the check or draft or if the insufficiency of funds is caused by the dishonoring of a check or draft from a third party that had been deposited into the account of the person who executed the check.
TN Code § 47-29-102 (2021)
2021 Tennessee Code|Title 47 - Commercial Instruments and Transactions|Chapter 29 - Collection of Bad Checks|§ 47-29-102. Handling Charge

 When any check, draft, or order is not paid by the drawee because the maker or drawer did not have an account with or sufficient funds on deposit with the financial institution, or the draft, check, or order has an incorrect or insufficient signature thereon, the payee of such check, draft, or order is authorized to assess a handling charge against such maker or drawer in an amount not to exceed thirty dollars ($30.00).
TN Code § 47-29-103 (2021)
2021 Tennessee Code|Title 47 - Commercial Instruments and Transactions|Chapter 29 - Collection of Bad Checks|§ 47-29-103. Remedies Cumulative

 The remedies provided under this chapter shall be in addition to and not in lieu of any rights and remedies available under the Uniform Commercial Code as provided in Chapters 1 9 of this title.
TN Code § 47-30-101 (2021)
2021 Tennessee Code|Title 47 - Commercial Instruments and Transactions|Chapter 30 - Home Equity Conversion Mortgages|§ 47-30-101. Short Title

 This chapter shall be known and may be cited as the “Home Equity Conversion Mortgage Act.”
TN Code § 47-30-103 (2021)
2021 Tennessee Code|Title 47 - Commercial Instruments and Transactions|Chapter 30 - Home Equity Conversion Mortgages|§ 47-30-103. Authorized Lenders — Designation — Application

  No person, firm, or corporation shall engage in the business of making reverse mortgage loans, unless such person, firm, or corporation is an authorized lender.   The Tennessee housing development agency, and any bank, savings institution, or credit union, shall be designated an authorized lender by providing notice, not less than thirty (30) days prior to making any home equity conversion loan or reverse mortgage loan, to the commissioner of its intent to make such loans and stating an effective date. This notification shall be made on a form prescribed by the commissioner and shall contain all information required by the commissioner and contain evidence that the applicant is an approved Fannie Mae or HUD lender. The commissioner may object to the notice by denying the designation prior to the effective date and shall state in the objection any reasons therefor.   Any person, firm, or corporation not included in subsection (b) shall file an application for authorization to make reverse mortgage loans, in writing, to the commissioner and in the form prescribed by the commissioner. The application shall contain the name and complete business address or addresses of the applicant and contain evidence that the applicant is an approved Fannie Mae or HUD lender. The application shall also include such information the commissioner deems necessary to evaluate the applicant. Such information may include, but is not limited to, affirmation of financial solvency, all capitalization requirements that are required by the commissioner, and the character, personal experience and business plan of the applicant. The application shall be accompanied by a nonrefundable fee, payable to the commissioner in an amount established by rule. If the commissioner approves the application, the commissioner shall designate the applicant as an authorized lender.   The commissioner shall maintain a list of authorized lenders.
TN Code § 47-30-104 (2021)
2021 Tennessee Code|Title 47 - Commercial Instruments and Transactions|Chapter 30 - Home Equity Conversion Mortgages|§ 47-30-104. Compliance — Noncomplying Loans Unenforceable — Counseling

  No authorized lender shall issue a reverse mortgage loan contract unless it complies with all requirements for participation in HUD's Home Equity Conversion Mortgage Program (or other similar federal reverse mortgage loan program from time to time created) and is insured by the federal housing administration or other similar federal agency or is a Fannie Mae Reverse Mortgage Loan.   Any home equity conversion loan, reverse mortgage loan, mortgage or deed of trust which fails to comply with this chapter is unenforceable as to all interest, service fees, and insurance premiums incurred on the loan.   Prior to accepting an application for a home equity conversion loan, an authorized lender shall refer the borrower to a counselor and shall receive certification from the counselor that all borrowers have received counseling.
TN Code § 47-30-105 (2021)
2021 Tennessee Code|Title 47 - Commercial Instruments and Transactions|Chapter 30 - Home Equity Conversion Mortgages|§ 47-30-105. Contract for the Payment of Interest

 Notwithstanding any other law to the contrary, the parties to a reverse mortgage loan may contract for the payment of interest at a rate which does not exceed the rate permitted for home loans under chapter 15 of this title. Interest shall be deferred until the earliest occurrence of one (1) or more events specified in the reverse mortgage loan contract. Payment of interest on deferred interest shall be as agreed upon by the parties to the contract. The parties may agree that the deferred interest may be added to the outstanding balance of the loan.
TN Code § 47-30-106 (2021)
2021 Tennessee Code|Title 47 - Commercial Instruments and Transactions|Chapter 30 - Home Equity Conversion Mortgages|§ 47-30-106. Contract May Require Borrower to Pay Certain Taxes, Premiums and Assessments

 A reverse mortgage loan contract may provide that it is the primary obligation of the borrower to pay some or all of the property taxes, hazard insurance premiums, private or federal mortgage insurance premiums, and assessments, in a timely manner, and that the failure of the borrower to make these payments and to provide evidence of payment to the lender may constitute grounds for default of the loan. A reverse mortgage loan contract shall state that if a borrower fails to pay property taxes, insurance premiums, or assessments, the lender may choose, at the lender's option, to pay the amounts due, charge them to the loan, and recalculate regularly scheduled payments under the loan to account for the increased outstanding loan balance.
TN Code § 47-30-107 (2021)
2021 Tennessee Code|Title 47 - Commercial Instruments and Transactions|Chapter 30 - Home Equity Conversion Mortgages|§ 47-30-107. Fees — Calculation of Outstanding Loan Balance — Prepayment

  If a reverse mortgage loan contract allows for a change in the payments or payment options, the lender may charge a reasonable fee when payments are recalculated.   The reverse mortgage loan contract may provide for:  A monthly service fee;   A fee for mortgage insurance premiums, which may be collected monthly or in advance. These fees shall not exceed the monthly service fee or insurance premium permitted by HUD for participation in the Home Equity Conversion Mortgage Program or by Fannie Mae for a Fannie Mae Reverse Mortgage Loan;   Repair administration fee, which complies with Fannie Mae guidelines or HUD regulations; and   An equity share, including shared appreciation, if the transaction is a Fannie Mae Reverse Mortgage Loan of any principal amount notwithstanding § 47-24-102.     The outstanding loan balance shall be calculated by adding the current totals of items described in subdivisions (c)(1)-(4), and subtracting the current totals of all reverse mortgage loan payments made by the borrower to the lender:  The sum of all disbursements made by the lender to the borrower, or to another party on the borrower's behalf;   All taxes, assessments, hazard insurance premiums, mortgage insurance premiums, monthly service fees, and other similar charges paid to date by the lender under § 47-30-106 and not reimbursed by the borrower within sixty (60) days of the date payment was made by the lender;   All actual closing costs the borrower has deferred, if a deferral provision is contained in the loan agreement; and   The total accrued interest to date.     Prepayment of the reverse mortgage loan, in whole or part, is permitted without penalty at any time during the term of the loan.
TN Code § 47-30-108 (2021)
2021 Tennessee Code|Title 47 - Commercial Instruments and Transactions|Chapter 30 - Home Equity Conversion Mortgages|§ 47-30-108. Amount Owed by Borrower When Loan Is Due — Enforcement of Debt

  When a reverse mortgage loan, other than a Fannie Mae Reverse Mortgage Loan, becomes due, if the borrower mortgaged one hundred percent (100%) of the full value of the house, then the amount owed by the borrower shall not be greater than:  The fair market value of the house, minus sale costs; or   The outstanding balance of the loan,  whichever amount is less.      If the borrower mortgaged less than one hundred percent (100%) of the full value of the house, the amount owed by the borrower shall not be greater than:  The outstanding balance of the loan; or   The percentage of the fair market value, minus sale costs, as provided in the contract;  whichever amount is less.      The lender shall enforce the debt only through the sale of the property and shall not obtain a deficiency judgment against the borrower.
TN Code § 47-30-109 (2021)
2021 Tennessee Code|Title 47 - Commercial Instruments and Transactions|Chapter 30 - Home Equity Conversion Mortgages|§ 47-30-109. Provision of Information to the Commissioner

  On forms prescribed by the commissioner, all authorized lenders shall provide all of the following information to the commissioner for dissemination to all counselors who provide counseling to prospective reverse mortgage borrowers:  The borrower's rights, obligations, and remedies with respect to the borrower's temporary absence from the home, late payments by the lender, and payment default by the lender;   Conditions or events that require the borrower to repay the loan obligation;   The right of the borrower to mortgage less than the full value of the home, if permitted by the reverse mortgage loan contract;   Either the projected total annual percentage rate, as defined in § 47-30-102, or a table of projected “Total Annual Loan Cost Rates” calculated in accordance with §  226.33 of Regulation Z (12 CFR 226.33) of the Federal Truth in Lending Act, 15 USC § 1601 et seq. applicable under various loan terms and appreciation rates and interest rates applicable at sample ages of borrowers;   Standard closing costs;   All service fees to be charged during the term of the loan; and   Other information required by the commissioner.     Within ten (10) business days after application is made by a borrower, but not less than twenty (20) business days before closing of the loan, lenders shall provide applicants with the same information required in subsection (a), shall inform applicants that reverse mortgage counseling is required before the loan can be closed, and shall provide the names and addresses of counselors listed with HUD or Fannie Mae.
TN Code § 47-30-110 (2021)
2021 Tennessee Code|Title 47 - Commercial Instruments and Transactions|Chapter 30 - Home Equity Conversion Mortgages|§ 47-30-110. Lender to Provide Borrower With Name of Agent to Answer Inquiries — Annual Statement of Account

  At the closing of the reverse mortgage loan, the lender shall provide to the borrower the name of the lender's employee or agent who has been designated specifically to respond to inquiries concerning reverse mortgage loans. This information shall be provided by the lender to the borrower at least annually, and whenever the information concerning the designated employee or agent changes.   On an annual basis and when the loan becomes due, the lender shall issue to the borrower, without charge, a statement of account regarding the activity of the mortgage for the preceding calendar year, or for the period since the last statement of account was provided. The statement shall include all of the following information for the preceding year:  The outstanding balance of the loan at the beginning of the statement period;   Disbursements to the borrower;   The total amount of interest added to the outstanding balance of the loan;   Any property taxes, hazard insurance premiums, mortgage insurance premiums, or assessments paid by the lender;   Payments made to the lender;   The total mortgage balance owed to date; and   The remaining amount available to the borrower in reverse mortgage loans wherein proceeds have been reserved to be disbursed in one (1) or more lump sum amounts.
TN Code § 47-30-111 (2021)
2021 Tennessee Code|Title 47 - Commercial Instruments and Transactions|Chapter 30 - Home Equity Conversion Mortgages|§ 47-30-111. Lender's Default — Applicability

  A lender's failure to make loan advances to the borrower under the reverse mortgage loan contract shall be deemed the lender's default of the contract. Upon the lender's default, the lender shall forfeit any right to collect interest or service charges under the contract. The lender's right to recovery at loan maturity shall be limited to the outstanding balance as of the date of default, minus all interest. Lenders may also be subject to other default penalties established by the commissioner.   Subsection (a) shall not apply if the lender has previously declared the borrower in default under § 47-30-112, or if the lender makes the required loan advance within the time stated in the mortgage contract or within thirty (30) days of receipt of notice from the borrower that the loan advance was not received.
TN Code § 47-30-112 (2021)
2021 Tennessee Code|Title 47 - Commercial Instruments and Transactions|Chapter 30 - Home Equity Conversion Mortgages|§ 47-30-112. Borrower's Default — Terms and Conditions

 A reverse mortgage loan contract may provide for a borrower's default, thereby triggering early repayment of the loan, based only upon one (1) or more of the following terms and conditions:   The borrower fails to maintain the residence as required by the contract;   The borrower sells or otherwise conveys title to the home to a third party;   The borrower dies and the home is not the principal residence of the surviving borrower;   The home is not the principal residence of at least one (1) of the borrowers for a period of twelve (12) consecutive months for reasons of physical or mental illness;   For reasons other than physical or mental illness, the home ceases, without prior written permission from the lender, to be the principal residence of the borrower for a period of ninety (90) consecutive days and is not the principal residence during such period of another borrower under the loan;   The borrower fails to pay property taxes, hazard insurance premiums, mortgage insurance premiums, service fees or assessments under § 47-30-106; or   The mortgage or deed of trust ceases to constitute a first lien on the property securing the reverse mortgage loan.
TN Code § 47-30-113 (2021)
2021 Tennessee Code|Title 47 - Commercial Instruments and Transactions|Chapter 30 - Home Equity Conversion Mortgages|§ 47-30-113. Notice of Foreclosure — Continuation of Interest

 When a borrower's obligation to repay the reverse mortgage loan is triggered under § 47-30-112, in addition to all rights conferred upon owners and borrowers under title 35, chapter 5, the lender must give the borrower not less than sixty (60) days' notice of its intent to initiate foreclosure proceedings. If the contract so provides, interest will continue to accrue during the sixty-day period.
TN Code § 47-30-114 (2021)
2021 Tennessee Code|Title 47 - Commercial Instruments and Transactions|Chapter 30 - Home Equity Conversion Mortgages|§ 47-30-114. Future Advances — Exemption From Other Law

  A reverse mortgage may provide that it secures not only existing indebtedness or advances made contemporaneously with the execution thereof, but also future advances, whether obligatory or optional, or both, and whether made under open-end credit agreements or otherwise, to the same extent as if such future advances were made contemporaneously with the execution of the mortgage, even though no advance is made at the time of the execution of the mortgage and even though no indebtedness is outstanding at the time any advance is made.   All advances made under a reverse mortgage, whether obligatory or optional, relate back to the time of the recording of the mortgage, and are prior and superior to subsequent encumbrances and conveyances, if made in accordance with this chapter.   All reverse mortgages, in order to have the priority provided in this section, must contain a statement or notice essentially equivalent to that set forth in § 47-30-102.   A reverse mortgage or reverse mortgage loan made in accordance with this chapter is exempt from chapter 28 of this title.
TN Code § 47-30-115 (2021)
2021 Tennessee Code|Title 47 - Commercial Instruments and Transactions|Chapter 30 - Home Equity Conversion Mortgages|§ 47-30-115. Prohibited Acts

 Reverse mortgage lenders are prohibited from engaging in any of the following acts in connection with the making, servicing, or collecting of a reverse mortgage loan:   Misrepresenting material facts, making false promises, or engaging in a course of misrepresentation through agents or otherwise;   Failing to disburse funds in accordance with the terms of the reverse mortgage loan contract or other written commitment;   Improperly refusing to issue a release of a mortgage;   Engaging in any action or practice that is unfair or deceptive, or that operates a fraud on any person;   Contracting for or receiving shared appreciation, except that this subdivision (5) shall not apply to any Fannie Mae Reverse Mortgage Loan;   Closing a reverse mortgage loan without receiving certification from a counselor that the borrower has received counseling on the advisability of a reverse mortgage loan and the appropriate reverse mortgage loan for the borrower; or   Failing to comply with this chapter.