[Excaliber]

I recently sold my house and was surprised at what the buyer had to go through to get loan approval. That is the buyer who eventually bought it, as several other's had to drop out because loan approval process was just taking to long! It's tough to qualify these days for plenty good folks with good jobs.

But I'm not sure how much blame is warranted for our current dabacle on low income housing loans. Heck the banks were loaning money like crazy to ANYBODY with a warm body. I suspect the BULK of the problem had to do with how those loans, good and bad, were bundled, sold and insured by Wall St. THAT I believe is the fundamental issue. Because of that "easy money" for the bank to sell/transfer the loans to ready and willing investor groups they became lax in applying more stringent accounting methods to making loans in the first place. Why bother? Someone IS going to buy the loan anyway, let them deal with the risk.