It has been over 30 days since the economic stimulus package was signed.  I am in the title business and thought I would see an influx of FHA and temporary conforming loans coming through.

At first I did, however only 30% of those titles have closed.

I asked a few clients, form mortgage brokers to bankers to loan officers for national lenders, what is going on?  In a nutshell they said one of two things, either the lenders are tightening up there lending guidelines which is making it difficult to approve, or the lenders have added several add on's that are increasing the rates and the clients cannot pay these much higher rates.

Have you been hearing the same?