Three handy do's and don'ts for successfully cheating on a mortgage application, as reported by The Oregonian:

Do not break out a borrower's compensation by income, commissions, bonus and tips, as is typically done in a loan application. Instead, lump all compensation as the applicant's base income. If your borrower is getting some or all of a down payment from someone else, don't disclose anything about it. Remove any mention of gift funds even though most mortgage applications specifically require borrowers to disclose such gifts. If all else fails, simply inflate the applicant's income. Inch it up $500 to see if you can get the findings you want. Do the same for assets.

Stir everything together, wait 3-5 years, and then sit back and watch the housing finance market collapse.