Why is it taking so long for my mortgage to be approved?

Because your debt will be sold to Freddie and or Fannie - the banks cannot afford to keep your mortgage debt - and the two major purchasers of your debt from Freddie and Fannie told the US government, if you want us to purchase your debt - you will guarantee our rate of return on the debt we purchase from you - no matter what. So if you default on your mortgage, the US government still must pay the people who purchased your mortgage debt. The US government can also require the bank - the originator of your mortgage - to buy back the mortgage debt if you default on it - the goal of the banks is to make a profit and sell their debt. The banks are making absolutely sure that your mortgage application and paperwork is in 100% compliance with the Federal Government Guidelines - so they never have to buy back your mortgage debt. It's not you, your paperwork or your mortgage broker, person - it's the economy!