As a mortgage professional, I would say that we are tightening, but there are still lots of opportunities. Currently purchases of owner occupied properties are still available up to 100%, but investment properties are now being limited to owning just 4 total properties and only purchases with15% down. Fannie Mae has done away with any Stated Loans and Freddie Mac will most likely follow. We are still approving people and there is a lot of hype about a lack of credit, but the loans are here to make for most people.

I'm not a mortgage professional, but I'm gonna guess fewer loan programs with more stringent guidelines. Some day the banks will forget about this experience, but it'll be longer than 30-60 days. If you're referring to how the $700 billion bailout will effect loan programs...I doubt it will do anything anytime soon.