Why isn't the financial sector supporting the governments efforts?

You can do an FHA Streamline refinance without a credit, income, or valuation check. This gives some borrowers immediate relief by lowering interest rates for existing FHA loans.

The problem is the lenders are adding requirements in addition to the FHA requirements. Lenders are requiring credit checks and appraisals which could eliminate 80% of those that would otherwise be able to refinance. Doesn't make much sense for the current situation.