The Federal Reserve on Tuesday proposed a much stricter set of rules for mortgage lenders as part of the central bank’s effort to avert abusive lending.

Some of the rules would apply to borrowers with what the Fed called “higher-priced mortgage loans,” which it defined as first-lien mortgages that carry interest rates 3 percentage points higher than the yield on comparable Treasury securities – basically, subprime loans.

Another set of rules proposed Tuesday would apply to all mortgage loans. The rules would take effect after a 90-day period in which members of the public can comment on the changes. [CNN]