One of my loan prep girls came to me with the following question: How do we put the data into the disclosure if the officer does not pull a new credit report to make the loan? What if the a credit report was obtained 4 months ago, do we use the old credit report information for the disclosure? If that is permissable, how far back can you go on using an old credit report?

If you use a previous report then the information in that report is what you disclose. How far back varies widely by FI.