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My retired uncle in Alabama bought a house last year. Paid about 50% down after selling his old house and financed the rest, even though he had the cash to buy the house outright (and the mortgage people knew that from the gazillions of copies of financial documents he had to supply).
Two days before closing, the underwriters got nervous about a $700 cash deposit he'd made after selling some supplies at a trade show. Almost shut the whole thing down. My aunt relates part of the story of my uncle on the phone with the mortgage lady, who was saying as my aunt picked up the phone, "Please stop yelling, Mr. Barton, please stop..."
Now my cousin is going through the process. It's not pretty.
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