How much do you analyze credit report information

[Scott B.]

How do you feel about this hypothetical info?  I'm used to a better applicant but this seems to be the norm in this new area I'm invested in.  

Applicant has a higher credit score above 720 but has 15+ 30 day late mortgage payments over 10 years (four in the last two years).  75% balance on credit limit.

No rental history as a previous home owner.  Has a mortgage still that would leave very little on the table after paying rent.  Income and savings are great.  

I'm a no on this but am I being too harsh?