Did you know that there is a difference between "High Rate, High Fee Loans," "Higher Priced Mortgages", and "High Cost Mortgages"? WHAT??
High rate = a loan with a higher percentage. High fee means a higher fee -or fixed amount for the loan. -my guess. High priced mortgage: A higher-Priced mortgage loan is already in effect and is a consumer credit transaction that is secured by the consumers principal dwelling with an APR exceeding hte average prime rate. High cost mortgage: "A High-Cost mortgage is a consumer credit transaction secured by the consumers residence in which the APR exceeds the applicable average prime offer rate by more than 6.5% for the first lien transaction and 8.5% for subsequent liens."
Do you know about banking, thenewgreen ? You asked a good question, too.
A little bit, I have to take banking regulation tests every year for compliance purposes. I wish I didn't know about this stuff, frankly. It's droll.