Tight Mortgage Rules Exclude Even Good Risks According to the NYT

Here's a New York Times example of overly tight lending standards:

Raghbir Singh, a real estate investor who owns a gas station in Dover, N.H. Mr. Singh tried to buy a $301,000 house for himself and his family with 10 percent down and excellent credit, but was rejected. “It was unfair,” Mr. Singh said. “I’m a good risk, but I’m forced to rent.”

10 to 1 leverage and the NYT is holding this out as some example!