How tight are lending standards getting for a home mortgage?

We are in escrow. We have submitted six weeks worth of payroll, four months of bank statements and now they are asking for 12 months of proof we paid rent on time. Every time we talk with our mortgage broker we are asked for more proof of funds, credit etc. It is really making us frantic! What will they ask for next?
We are first time home buyers and have no idea if all the documentation is due to the housing market collapse or is it just normal?
Wow Grey….that is just too much info for a mortgage company! Amazing!

And Teri….Our credit score is above 750 and we really thought this would help pave the way and make it easy. But it would seem that even good credit is not everything!
I’d say so too……….
Thanks Candi…After the holiday I think we will go in for a meeting just to get things in perspective! Such as what will come up and what may come up! In the end I want to be prepared and hate having such short notice on getting everything together.
OC mom your scaring me now! I’m also in Cali and do not trust this market at all! If this escrow falls out, we could be screwed by the 18% rise in home buying!

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