I built and sold new homes, straight through the great recession, and for the next seven years. Allegedly in the middle of the "great crackdown" on predatory lending and shady practices, it was, and still is, routine to see a buyer who had no business being at the table, and was doing a deal with little, or no money down. In every case it was a loan that "required" a 3% or less down, and was part of a government backed program. The realtor would write the contract for a "seller's assist" then inflate the selling price to cover the down payment. I closed a deal a few months ago. The buyer was a teacher in a high paying job, and a thirty year career, Great credit, and no ability and/or desire to put a dime down on a hone. The sale price was inflated by roughly 4% and she brought nothing to the table. I have done a deal where another woman, with a similar deal, not only had zero in the game, but walked away with a check for a few hundred at closing.
It makes me laugh to see talking heads in the media whine about all the "new regulations, and tougher requirements" having impacted the market, and made it so hard for first time buyers to move up to their starter home. I'm no sure where those reporters are from, but in my world the old rules still apply. Decent credit score, verifiable income, and the ability to sign your name, are the requirements.