This poll was suggested by Ted Rood.

"I work for a major insurance company now in the mortgage business as well.  Over the past 2 months, we have seen dramatic increases in "risk aversion", denying loans despite DU approvals with 720 scores, sourcing ANY deposit in checking accounts, ect.  "

The new DU release has lowered maximum dti to 45% but will allow up to 50% with special circumstances.

It is getting harder.  Dont see how anyone can say it is staying the same.

I have come to the conclusion that FNMA does not want any more loans- especially the good ones.

FHA is being overloaded due to FNMA tighten all guidelines- USDA is issuing a 20 day turn time for 1st time homebuyers-

USDA approval depends upon the state.  In Washington State they are working on files submitted August 21st.  There is a very slim chance of one closing before the end of November to get the first time buyer credit if it is being originated today.

Lender Guideline Overlays

I've come across the new credit guidelines twice already and they've only been out a week or so:

Need 3 tradelines, and 2 of them have to be open for more than 24 months and they have to be open, not closed or delinquent in any fashion (even 1 month)...