US Bank eliminates stand-alone seconds, purchases above 85% LTV

Thanks to reader and friend Chris for the tip that US Bank has eliminated all stand-alone second products and purchases above 85% LTV. As banks and MI companies become more conservative home prices will continue to fall as the market of potential home buyers shrinks. 15% down is a nice change and hearkens back to the days when buying a home meant you actually wanted to own it; but for a cash-strapped populace used to financing life it means that it's harder to own a home right now. Here's an email regarding the changes: Effective Wednesday March [sic] 11, there are some changes to our rate sheet. These changes only effect new loan submissions and do not effect anything already in the pipeline. The most obvious change is that we now have a two page rate sheet instead of four and we ar