A New Milestone for our Positive Rent Payment Pilot
In September of 2022, we launched the Positive Rent Payment Reporting pilot. Under the program, property owners report on-time rental payment to the major credit bureaus, helping renters build their credit history and improve their credit score.
As of February 2023, we have enrolled over 160,000 rental units! Initial data shows the pilot has helped about 7,000 renters establish credit scores, and for those who already had a credit score and saw an improvement, there was an average increase of 45 points to their score.
Esusu Financial, Inc., Jetty Credit, and Rent Dynamics are approved rental payment reporting vendors who will collect rent payment data from Fannie Mae Multifamily property owners and provide the information to credit bureaus. Eligible borrowers will be reimbursed the cost for one year of services if enrolled during the pilot period. Only positive payments of renters will be reported (those who fall behind will be unenrolled) and renters can choose to opt out at any time.
Visit the Positive Rent Payment Reporting web page where you can find more information on:
- Benefits for borrowers and renters
- Eligibility requirements and how to enroll
- Participating vendors
- FAQs
- Lender and borrower fact sheets
Reach out to your DUS® Lender to sign up or with any questions.