The Dodd-Frank regime has turned loan applications (for either construction, 1st mortgage, 2nd, HELOC) into a exercise of extreme patience, and massive documentation. There's a Mortgage LO (right outside my office), about twice a week I can tell she's talking with a customer who is saying 'I didn't have to do this/disclose this/provide this/answer this, the last time I got a mortgage/HELOC'. she's mastered that conversation. I've learned so much from her in water cooler talk about that business in this era.
I know I've had several real estate closings the past ten years (purchase, sale, mtg, refis, lot purchase, lot sale, construction loan), the files keep getting thicker. the pendulum has swung from Stated Income/Stated FICO to full body cavity search.