Nestled within the massive FinReg package that a House-Senate panel approved early Friday morning are consumer protections that could change the way people shop for a mortgage.

If Congress approves the bill and President Barack Obama signs it, the law would hinder the return of no-doc mortgages and some fees would be limited.

Also, a Consumer Financial Protection Bureau would be asked to oversee consumer lending, and to create new home-appraisal standards.

Consumer mortgage protections outlined in the bill are Congress’s way of legislating common-sense underwriting and more borrower protection “to an industry that lost sight of it,” said David Berenbaum, chief program officer for the National Community Reinvestment Coalition.