Borrowers are surprised by new residential Guideline changes

For the past three months, I have had trouble placing my borrowers in either the same or a better position then they were currently in. I have see lender raise there guidelines on borrowers that qualified for homes 3 years ago with no changes to their credit currently are unable to refinance due to FICO score requirements rising and LTV (Loan to Value) requirements steadily decreasing.

I feel that this trend will stay the same for the next 2-3 years or until profits have come back for residential lenders. The moral of this story for now is, if you are thinking of refinancing or purchasing a home. You need to do it now, because the future looks bleak.