The last sentence here should be a deterent, hopefully, but the standards are a bit vague:

WASHINGTON (Dow Jones)–Legislation to overhaul U.S. mortgage lending passed the House Thursday as lawmakers sought to rein in practices blamed for the foreclosure crisis.   The legislation is a tougher version of a bill that passed the House in 2007 but later stalled. The current bill would establish national minimum underwriting standards for home mortgages and require originators to retain a portion of the credit risk of mortgages they sell to third parties.   The legislation passed the House on a 300-114 vote.  

Under the measure, mortgage lenders would be required to offer home purchase mortgages that a borrower has a “reasonable ability to repay.” For refinancings, the lender has to believe the transaction provides a “net tangible benefit” to the borrower.   A lender violating these rules would be required within 90 days to modify or refinance the loan at no cost to make sure it meets the standards.
(Dow Jones Newswires 04:25 PM ET 05/07/2009)

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