General World News

Fannie Mae launches rent payment reporting pilot program

Fannie Mae on Tuesday launched a pilot program to help renters of multifamily properties build their credit histories and improve their credit scores.

Effective Sept. 27, eligible multifamily property owners can share rent payment data through a vendor network to TransUnion, Equifax, and Experian in the renter’s credit profile.

“Around 20% of the U.S. population has little to no established credit history, a group in which Black and Latino/Hispanic people are disproportionately represented. Of the consumers who do have a credit score, a disproportionate number of Black consumers have a subprime credit score. These imbalances reinforce details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com