New York’s Banking Department has updated its high-cost loan regulations. The update to the so-called “Part 41” are designed to make the banking regulations consistent with a state predatory lending law enacted in April of 2003. Among the key changes is a new high-cost trigger for loans insured by the FHA or VA. Such loans will now count as high cost if the total points and fees paid in connection with the mortgage exceed 6 percent of the loan amount...