Fannie Mae – Repossessed Car – Our client has a repossessed car from 5 years ago. Will Fannie or Freddie require this to be paid off?

Answer: This really depends on how DU or LPA considers this.  We suggest that if you have already run DU or LPA, then it is likely the account has already been reviewed and an appropriate feedback message would need to be followed.  If your applicant is disputing the tradeline, you may also need to follow [...]