Fannie Mae Launches Rent Payment Reporting Program to Help Renters Build Credit

Fannie Mae recently announced the launch of its Multifamily Positive Rent Payment Reporting pilot program, aimed at helping renters build their credit history and improve their credit score. Beginning September 27, 2022, eligible multifamily property owners can share timely rent payment data through a vendor network to the three major credit bureaus for incorporation in the renter's credit profile. This pilot program is the latest solution among Fannie Mae's ongoing efforts to bolster equitable access to credit and remove unnecessary obstacles…Read more.