The biggest challenge in today's real estate market is financing

The biggest challenge in today's residential real estate market, for buyers and sellers, is successfully financing a home purchase. Just a short year ago getting a loan was not a big problem. If you had reasonable credit scores, funds for a down payment/closing costs and a home under contract, in thirty days or less you were moving in your new home.  Today's buyers and sellers are confronted with a much different picture when it comes to getting a loan. There are new appraisal regulations which can gum up the works. There are new Fannie Mae/Freddie Mac underwriting criteria which make it almost impossible to find a loan for some condominium projects. Another underwriting issue which restricts some borrowers is the number of properties he/she owns. Almost all of these issues can be addressed but the search for the right loan may be a long one. Once a property or a buyer falls outside of the standard underwriting rules the sources of funds become fewer and further between.
So why must the consumer whom is perfectly well qualified for a loan have to endure these inconveniences? I call it "attempting to correct bad business practices by punishing good business practices." The federal government, in an attempt to stop mortgage fraud (a good cause), has put in place rules which have a very negative impact on many citizens whom would like to buy a home and many citizens whom would like to sell a home. So how do we solve this problem? Call or email your congressman or senator today and tell them they need to reform the mortgage reform!!