Section 343.201 - Definitions In this subchapter:
(1) "High-cost home loan" means a loan that: (A) is made to one or more individuals for personal, family, or household purposes; (B) is secured in whole or part by: (i) a manufactured home, as defined by Section 347.002, used or to be used as the borrower's principal residence; or (ii) real property improved by a dwelling designed for occupancy by four or fewer families and used or to be used as the borrower's principal residence; (C) has a principal amount equal to or less than one-half of the maximum conventional loan amount for first mortgages as established and adjusted by the Federal National Mortgage Association; (D) is not: (i) a reverse mortgage; or (ii) an open-end account, as defined by Section 301.002; and (E) is a credit transaction described by 12 C.F.R. Section 1026.32 , as amended, except that the term includes a residential mortgage transaction, as defined by 12 C.F.R. Section 1026.2 , as amended, if the total loan amount is $20,000 or more and: (i) the annual percentage rate exceeds the rate indicated in 12 C.F.R. Section 1026.32(a)(1)(i) , as amended; or (ii) the total points and fees payable by the consumer at or before loan closing will exceed the amount indicated in 12 C.F.R. Section 1026.32(a)(1)(ii) , as amended. (2) "Points and fees" has the meaning assigned by 12 C.F.R. Section 1026.32(b) , as amended. Amended by Acts 2023, Texas Acts of the 88th Leg.- Regular Session, ch. 159,Sec. 15, eff. 9/1/2023.Added by Acts 2001, 77th Leg., ch. 622, Sec. 1, eff. 9/1/2001.