When there's a deal I can't do, I refer to Chebel Mina at Broadview Mortgage. As honest as the day is long and market competitive - meaning not the lowest, not the highest, but close enough when you have a tough deal. (949) 888-6603. In Mission Viejo.
As for refinancing through the Big Banks, yes, they've all been compelled to underwrite as they used to in the good old days (pre 2001). Having gone through the 1980's housing boom, the 90's housing collapse, the 2002-2007 mania, and subsequent meltdown, returning to the "thumbscrew" underwriting standards seems to be about the only thing that will save the industry in the long run. Those who didn't purchase / refinance before 2001, most underwriting requests today seems nonsensical, and they often are, but none of this is new. Are some lenders not asking as many questions as the newly re-regulated Big Banks? Sure. Will those companies be there in in 5 more years? Not so sure. Regulations will continue to trickle down from Banks to their mortgage banker conduits. The mortgage bankers are betting they don't have to buy back any of their dud loans. The gallons of gasoline poured on the 2007-2008 housing bonfire came when Big Banks began pushing poorly underwritten loans back onto the third party originators. They in turn closed their doors overnight rather than repay these bad mortgages (LoanLink, Quick Loan Funding, Onxy Accptance, and GreenPoint are but a few local examples of amazingly fast operational shut downs).
Requiring mitochondrial DNA cheek swabs samples plus at least 2 rock solid references from 3rd cousins in another state are unreasonable intrusions into a borrowers background. There are simpler ways to get loans done through many third party loan producers. That niche window will continue to constrict however as the march towards re-regulation is the irresistible force that will overwhelm any immovable object.
My .02c
