The report date may not matter.
From what I have learned it is 3 years from the date your name transferred off the title / deed to your old home. This (in my state) is evidenced by the Sherrif's deed.
My foreclosure was completed in Sept 2009 but the Sherrif's deed wasn't issued until 2/2010 so my three years doesn't start until then, That means I have to wait till 2/2013 to be FHA eligible.
From what I have been told the application date has to be just one day past the date on the deed transfer. So if your ownership transferred on 8.28.2009 then you can apply on 8.29.2012.
I went USDA because the lender I used only required 1 year post foreclosure.
Starting Score: 650