What is positive rent payment reporting?
Positive rent payment reporting is the submission of renters’ monthly on-time payment to the credit bureaus (Equifax, Experian, and TransUnion) for inclusion in the calculation of a consumer’s credit report. This will also factor into the calculation of a consumer’s credit score.

Why is Fannie Mae doing this?
Rent payment reporting has been identified as a tool to create a more equitable housing system. Fannie Mae’s mission is to facilitate equitable and sustainable access to quality affordable rental housing, and this pilot is part of Fannie Mae’s Equitable Housing Plan and Duty to Serve plan for 2022.

What do rent payment reporting companies do?
These companies provide the technology capabilities to report positive rental payments to credit bureaus. Depending on the platform, companies may provide services such as:

  • Offering emergency rent loans at 0% interest.
  • Providing budgeting solutions to help renters stay current.
  • Reporting up to 24 months of previous on-time payments.

How are vendor costs covered during the pilot?
Fannie Mae works directly with the vendor to pay for one-year of services. No action is needed by the Borrower once they've contracted with their selected vendor.