Going forward, borrowers will need to come up with a 20 percent down payment if they want the best deal.

The Office of the Comptroller of the Currency and the FDIC have agreed on a 20 percent down payment for what is being called a "Qualified Residential Mortgage" (QRM). A QRM is a mortgage that will be exempt from the risk retention standards required under the Dodd-Frank Act. 

Basically, mortgage lenders who originate mortgages that are not considered QRMs will have to hold onto at least five percent of the mortgage before selling it on the secondary market. 

Mortgage rates on these loans will be higher than QRMs, because the latter will be less risky and more marketable.

There may be good news - Borrowers who are required to put 20 percent down will be able to get 10 percent of it as a "gift," so it's really only a 10 percent down payment requirement. Also, FHA loans are exempt from the risk retention rules, so you can always go that route for a low-down payment mortgage.