Borrowers in California received the bulk of the high-priced mortgages originated last year, a new analysis of Home Mortgage Disclosure Act data reveals. The analysis focused on “rate-spread” loans, or first lien mortgages with annual percentage rates of 3 percent or more above Treasury securities and junior mortgages with rates that exceed Treasuries by 5 percent or more – a benchmark for HMDA reporting established by the Federal Reserve Board. Also included are mortgages… [One data table included]