@Eric Vergne I'm suspicious of the same thing.

Investors start getting suspicious about how long the trend will last or the credibility of new price levels -- a form of paranoia that can in itself drive prices back to previous or lower levels.This is a behavior and pattern you can expect regardless of what loan requirements are and has to do with consumer and market behavior, efficiency of markets, demand, supply etc...

If my inspection report came out super clean for that type of house, I'd be suspicious of my inspector!

If I went in and draw out $9K, and the bank think that is very suspicious I would close my account and sue the bank and bring in the news media to expose them.

If I didn't already love RE, I would most likely be suspicious, too.  

The wording in the letter is suspicious to me. 

There already seem to be a few suspicious things in this deal.

But I agree too low can be suspicious.

Now I'm really suspicious.

I noticed the 25k rehab, for a 130 house which makes me a bit suspicious in the numbers, we may have done two rehabs out of a couple hundred  rehabs with  25k in renovation.