In my experience with the state of Michigan the clock starts when it's released, 7 years later it's gone. However, I was told by CRA that the negative value of FICO points is discounted each year, so isn't that worth something?
FICO scores on November 17, 2014 (prior to applying for and being approved my mortgage)
EX=738
EQ=735
TU=754
FICO scores on March 4, 2015 after being approved for mortgage and buying the home, the mortgage isn't yet reporting.
EX- 689 EQ- 739 TU- 739