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Buyers are Liars...
...according to underwriters. 
I certainly understand the extra scrutiny given the history of the lending fiasco that we've been through but c'mon people, let's use a little common sense here. 
The climate of qualifying for a loan has now become a 'guilty until proven innocent' fiasco.
Two current cases in point.
1) an agent in my office is involved in a transaction now in which the buyers are cashing in gold for their down payment. These are gold coins that have been passed down for generations. They have authentication certificates along with a statement from the most respected coin dealer in their town testifying to the fact that these coins have been in their family for years, he appraised them for the buyer's Grandfather decades ago. The 'gift' is in writing from the Grandfather. Underwriters have said it's not good enough and will not close the loan, period (72 hours before closing). Agent has procured another lender and is now looking at about a 3-4 week delay. Of course, the buyers MUST be lying about these mysterious gold coins!
2) Self employed buyer, fantastic credit scores, long time small business owner who installs guttering for various roofing companies and private homeowners. ... more

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