Mortgage lenders are dealing with Economic uncertainty caused by the Covid-19 economic shutdown by tightening qualifying standards. They began increasing the minimum credit scores, demanding larger down payments, verifying your employment status multiple times, and even taking away specific loan products completely. Job losses have gotten to astonishing levels due to the corona virus pandemic. More than 26.5 million workers have filed jobless claims in the last five weeks. Fear has taken over and lenders are extremely concerned that these high unemployment rates will equate to late payments and mortgage defaults in the future. These changes were put in place since it has become more complicated for lenders to confirm [...]

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