When I applied for my mortgage back in 2010 I was required to complete a LOE for all inquiries and lates up to 2 years out. I had multiple derogs on a CC from 2006 but since it was 4 years old they didn't care. Although, I did not finance through a major well-known bank. I went with the home builder to get the "discounted home price" and it was promptly sold to BoA.
