[Poll] What presents the biggest barrier to getting refinances approved?

Plunging values, job losses, tightening underwriting guidelines--which have proven the biggest obstacle to your clients?

That's an easy one...

13 for 13 so far!!!

pretty unanimous.  I only do Texas loans so havent had many issues, but i dont see how any LO is making it in Cali or Florida.  If you originate in those states, it must be brutal.

I am lucky for the fact in S. Jersey the affordable homes 250 - 350k have held thier value... BUT anything Jumbo is dropping big time!

I am only seeing a few of our counties in Wisconsin that are having big troubles with values dropping so I am also pretty luck.  I agree with Victor...couldn't imagine doing loans in California and Florida.

Gotta go with the flow.  If values are decreasing, better increase your purchase business.

I originate only in CA and the purchase market is very active (I'm in the L.A. area) among 1st homebuyers.  Doing pretty much all Conv <$417K and FHA but staying very busy.  I'll take the refis from the database but those will be here and gone soon.  Working hard to stay focused on good referral sources (realtors, financial professionals and corporations).  There's huge opportunity right now IF you know how to get loans closed.

I can't tell you about how many deals I'm hearing falling out of escrow due to financing issues.  Realtors and clients alike are appreciating more and more dealing w/ someone who's able to properly assess a transaction upfront and close it.