11.3.21
HousingWire reports that Freddie Mac will partner with Esusu Financial, a credit-building fintech who will deliver on-time rental payment reports from landlords to the credit bureaus. The objective behind the new initiative is to encourage multifamily landlords to report positive rental payments to the credit bureaus to give renters a stronger opportunity to qualify for a mortgage. The biggest obstacle to reporting on-time rental payments, according to Freddie Mac, is the administrative and compliance burden for landlords. Esusu will manage the reporting process while helping renters gain greater access to credit. This latest move follows Fannie Mae’s decision back in August 2021 to include on-time rental payments in its underwriting process.