Interested to hear your thoughts on this. 

http://www.govtrack.us/congress/billtext.xpd?bill=h110-3081

A few highlights from the link...

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`(C) VERIFICATION OF CONSUMER INCOME AND FINANCIAL RESOURCES- In the case of any consumer credit transaction secured by a consumer's principal dwelling, the income and financial resources of the consumer shall be verified for purposes of this paragraph by tax returns, payroll receipts, bank records, or other similarly reliable documents.

`(D) OTHER CRITERIA- No provision of this paragraph shall be construed as prohibiting reliance on criteria other than a consumer's income and financial resources to establish the reasonable ability of the consumer to repay any consumer credit transaction secured by the consumer's principal dwelling, to the extent such other criteria are also verified through reasonably reliable methods and documentation.

`(E) CONSUMER STATEMENT IS INSUFFICIENT PROOF- A statement by a consumer of the consumer's income or financial resources shall not be sufficient to establish the existence of any income or financial resources when verifying the reasonable ability of the consumer to repay any consumer credit transaction secured by the consumer's principal dwelling, for purposes of this paragraph.

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3) PROHIBITION ON PREPAYMENT PENALTIES FOR ARMS-

`(A) IN GENERAL- In the case of any consumer credit transaction secured by a consumer's principal dwelling that provides for variable rates of interest on the credit extended under the transaction, the transaction may not contain terms under which a consumer must pay a prepayment penalty for paying all or part of the principal before the date on which the principal is due.