SB1712 - Tennessee: Consumer Protection, Mortgages

Mortgages - Requires closings for all loans for residential real property to be held in office of lender or agent of lender; limits period for prepayment penalty to no longer than 24 months after date of consummation of loan of $100,000 or less for home improvements to owner-occupied residence where residence is collateral for loan. - Amends TCA Title 45 and Title 47.

Increase State Revenues - Not Significant Increase State Expenditures - Not Significant