FNMA is famous for interpreting their addendum the way they see fit at the moment !

@Gene BelavalTo my understanding, the jury is still out on this ruling as there's no definite interpretation as to when the breach of the mortgage contract occurred to establish the date to base the 5 years from.  

If they don't like the statute and it's not in the tenant's favor, they will "interpret" it in a manner that delivers the desired result.  

And for all that is Holy, don't do anything that could be interpreted as trying to hide the deal from the lender, or tell your seller to do that in any way, shape or form, if you are going to transfer the title.

You need to keep a copy of the RTA with you at all times until you can quote articles from memory and know exactly how they are interpreted and enforced by the LTB.Welcome to the most pro tenant jurisdiction in North America.

The definition of "distress" is interpreted liberally in this state as well.

There are many different programs and interpretations of the government requirements for federally backed loans.  

You may want to check with your credit bureau/AG/Realtor Association.In Mass you can't reject someone for credit unless you're licensed/certificate to review/interpret credit reports.

See someone who wants to have people over all the time can interpret that in so many ways.  

Interpreting the information you find, putting the "puzzle" together, and making your approve/deny decision takes a little effort initially, but gets easier and faster with every prospect.