Credit Report- Last Date Reported

[esakko]

I submitted a loan through LP & DU and received a caution with LP and a Level IV with DU. I received this because the system is picking up a foreclosure that has been reported in the past 2 years but it has been satisfied since 2001. The creditor just updated there information which makes the system think that there has been a foreclosure in the past 2 years. What can I do in this situation? Can I get this file Manually underwritten? I spoke with the credit bureaus and they stated the date of last activity is what you should go by and they can't change date reported. please advise.

[Troy]

Originally Posted by esakko

I submitted a loan through LP & DU and received a caution with LP and a Level IV with DU. I received this because the system is picking up a foreclosure that has been reported in the past 2 years but it has been satisfied since 2001. The creditor just updated there information which makes the system think that there has been a foreclosure in the past 2 years. What can I do in this situation? Can I get this file Manually underwritten? I spoke with the credit bureaus and they stated the date of last activity is what you should go by and they can't change date reported. please advise.

You should be able to get a manual review, but it may also depend on the underwriter/lender. Just make sure you have documentation as to when the foreclosure was satisfied.