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?

[Joe Splitrock]

Overall that is an excellent credit score. Why is she keeping the house and renting? Managing a house and rental payment could be hard so that is the big negative I see. If she is renting the house, then it could be an income stream. A late payment could be as simple as a couple days. Not ideal, but the credit score indicates overall she is a good payer. Good income and good savings are strong qualifiers. I would probably rent to her if she had car payments and other recent good payment history.