Tennessee § 47-30-115 Prohibited acts

Tennessee Statutes

§ 47-30-115 — Prohibited acts

Tennessee § 47-30-115

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This text of Tennessee § 47-30-115 (Prohibited acts) is published on Counsel Stack Legal Research, covering Tennessee primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tenn. Code Ann. § 47-30-115 (2026).

Text

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:

(1)Misrepresenting material facts, making false promises, or engaging in a course of misrepresentation through agents or otherwise;

(2)Failing to disburse funds in accordance with the terms of the reverse mortgage loan contract or other written commitment;

(3)Improperly refusing to issue a release of a mortgage;

(4)Engaging in any action or practice that is unfair or deceptive, or that operates a fraud on any person;

(5)Contracting for or receiving shared appreciation, except that this subdivision (5) shall not apply to any Fannie Mae Reverse Mortgage Loan;

(6)Closing a reverse mortgage loan without receiving certificat

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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: (1) Misrepresenting material facts, making false promises, or engaging in a course of misrepresentation through agents or otherwise; (2) Failing to disburse funds in accordance with the terms of the reverse mortgage loan contract or other written commitment; (3) Improperly refusing to issue a release of a mortgage; (4) Engaging in any action or practice that is unfair or deceptive, or that operates a fraud on any person; (5) Contracting for or receiving shared appreciation, except that this subdivision (5) shall not apply to any Fannie Mae Reverse Mortgage Loan; (6) 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 (7) Failing to comply with this chapter.