Back before no documentation mortgages and no money down mortgages you needed to fit into very specific parameters to buy a house. A 42% income to expense ratio, 2 years on the job verifiable a credit score of X or above and prove where the down payment money came from. All good things.

Now we are back to that and that is a good thing too.

Bureaucrats changed the rules to allow that crap and now they point fingers.

The appraisers should all be thrown in jail. They are suppose to give a value based on predominant value and should not be aware of the asking price before hand. They are bought and paid for by Fannie and Freddie and for a decade artificially overinflated values so the whole industry could benefit from the refinance profits taking advantage of the foolish new rules imposed by gov.

It took a decade to get here and it will take a significant amount of time to straighten itself out.