5. Tougher requirements and more transparency for mortgages
Lenders will have to make sure mortgage borrowers could afford to repay the loans they are given. Lenders will have to verify a borrower's income, credit history, and employment status.
Lenders will have to disclose the highest payment borrowers could face on their adjustable-rate mortgages, and mortgage brokers could no longer receive bonuses for pushing people into high-cost loans.
Related: Targeting risky mortgages