How does the Mortgage Reform and Anti-Predatory Lending Act of 2010 help regulate mortgage transactions?

What will be an ideal response?

The act requires mortgage originators and lenders to verify the assets and income of prospective borrowers, their credit history, employment status, debt-to-income ratio, and other relevant factors when making a decision to extend credit. The act is particularly designed to regulate the subprime mortgage market, that is, the home loan market where lenders made loans to unqualified borrowers. The act puts the burden on lenders to verify that a borrower can afford to repay the loan for which he or she has applied. The act provides civil remedies for borrowers to sue lenders for engaging in deceptive and predatory practices and for violating the provisions of the act.