So, if you want to make these securities saleable in the secondary market, we are told, you have to have prepayment penalties.

NPR: Time for Renovation at the FHA?

Probably not under current laws, which, while they to some degree limit fees and prepayment penalties to prevent gouging, don't impose any fiduciary obligation of the lender to the borrower.

FORBES: The Mortgage Nanny

The agency might also outlaw prepayment penalties on mortgages.

WSJ: The Consumer Financial Protection Agency Act Is Flawed

It's most significant step: Several proposals in December that ban "unfair or deceptive" practices, such as lending to borrowers who cannot repay a loan and doing away with prepayment penalties that harm borrowers.

FORBES: Key Forecaster Says U.S. In Recession

Very little income documentation, really high prepayment penalties.

NEWYORKER: The Contrarian

Others cannot qualify for the fixed-rate "prime" loans they need, or they are prohibited from refinancing by prepayment penalties meant to assure the lender that the borrower's high payments would continue for a minimum number of years.

FORBES: Where Were The Realtors?

It cannot just be assumed that most people who during the housing boom bought homes with adjustable-rate mortgages, or mortgages with prepayment penalties, or mortgages that required a low or even no down payment, were fools or victims of fraud.

WSJ: The Consumer Financial Protection Agency Act Is Flawed