Fannie Mae Launches Rent Payment Reporting Program to Help Renters Build Credit
Fannie Mae announces the launch of the Multifamily Positive Rent Payment Reporting pilot program which aims to help renters build credit and improve credit scores. Qualified multifamily property owners can share rent payment information through a vendor network to the three major credit bureaus to include in the renter's credit profile.
The Multifamily Rent Payment Reporting pilot program is one of many actions Fannie Mae is taking to enhance equity in America's housing finance system, its practices, and its outcomes. Over the past year, the company has launched new initiatives to decrease obstacles renters and homeowners face throughout their housing journey:
- Changing the way renters are served by expanding access to quality affordable rental housing in more high-opportunity neighborhoods, including for renters who rely on Housing Choice Vouchers.
- Creating a more inclusive credit eligibility system for people who are denied access to quality, affordable homeownership in a manner that is safe, sustainable, and fair.
- Empowering consumers through a robust program of financial and housing education.
To learn more about the Multifamily Positive Rent Payment Reporting pilot program, click here:
Fannie Mae Launches Rent Payment Reporting Program to Help Renters Build Credit | Fannie Mae