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I have seen this before in my 21 years in the mortgage business.  After a series of tightening the guidelines for approval they are finally easing up.  We are seeing some of the old programs come back for tougher credit.  They are getting rid of some tightening Loan to Value restrictions.  In other words they want more people to be able to qualify for financing again. 

But on the other hand, the computer programs that approve many of the loans just tightened the requirements.  Also the PMI companies have started to really clamp down on property values. 

So are they tightening or loosening?  All I know is, if you have a small to no down payment, FHA is still your best bet.  When everyone was taking out the "non-Conforming" loans, FHA was still your best bet.  I would always look to FHA before looking at the High LTV conventional and non-conforming loans.  I still do. 

This year is looking like a great year for FHA.  They seem to be the best game in town.