Highlights of the mortgage plan outlined by Federal Reserve Chairman Ben S. Bernanke:
from making loans without proof of a borrower's income.
from penalizing subprime borrowers who pay
off loans early.
to make sure subprime borrowers set aside money to pay for taxes and insurance.
certain types of misleading or deceptive advertising.
to provide financial disclosures so borrowers could use them while shopping for a mortgage.
For more details:
» READ MORE: www.federalreserve.gov
SOURCE: Associated Press