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Report urges rent payment history in underwriting

Utilities, telecommunications and rent payment data ought to be used in mortgage underwriting, especially since federal regulators say they are focused on improving racial equity and may update their credit scoring models.

So argued a report released Tuesday by Michael Stegman, a non-resident fellow at the Urban Institute and former senior policy advisor on housing in the Obama White House, and Kelly Thompson Cochran, deputy director of FinRegLab. But, the authors acknowledge that obstacles abound in changing an underwriting process dictated in part by Fannie Mae and Freddie Mac.

Including rental data is a crucial first step from a racial equity details ⇒

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