I don't think anyone is less strict than FHA.
As far as extenuating circumstances, I think job loss can come into play, but it would be figured into the whole equation. If you had recovered, had some money down and great reserves, and a low DTI, the extenuating circumstances might pull through. It is the whole package an underwriter would look at I think. They are going to be really picky about a BK at 1 year and extenuating circumstances probably so without more explanation about husbands work situation, your debt loads, down payment money, etc it is hard to give a good answer.
Also, remember with FHA even if you are the only income, both of your debts will be considered towards DTI if you live in a community property state.
