The Borrowers’ Protection Act addresses lax standards in the home mortgage lending industry that have led to a rash of foreclosures across the country, threatening millions of American families with the loss of their homes. The bill mandates that all mortgage lenders, whether they are banks or other institutions, have a legal duty to act in the best interests of borrowers; prohibits steering borrowers to rates and terms that are higher than they qualify for based on their credit history; and imposes new standards on property appraisers to prevent conflicts of interest and exaggerated appraisals, among other provisions.