Five years from the most recent dismissal or discharge date for borrowers with more than one bankruptcy filing within the past 7 years.
What are multiple bankruptcy filings? This means an individual borrower has filed for bankruptcy more than one time. Two or more borrowers with individual bankruptcies are not cumulative, and do not constitute multpile bankruptcies. For example, if the borrower has one bankruptcy and the co-borrower has one bankruptcy, this is not considered a multiple bankruptcy.
(Source: FNMA Selling Guide, 6-30-10)