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Positive rent payment reporting

Positive rent payment reporting

When on-time rent payments count, renters, homebuyers, lenders, and property owners benefit.

Rent is the largest recurring monthly expense that many households pay. Now, with positive rent payment reporting, on-time rent payments can help renters establish, maintain or boost their credit score, and potentially improve their mortgage eligibility when they decide to buy a home. It also provides valuable benefits to multifamily property owners and single-family lenders.

Positive rent payment reporting demonstrates Fannie Mae’s ongoing commitment to make housing more accessible, particularly for renters who have faced challenges obtaining credit—a key step toward building wealth through homeownership.

By making rent count, we help communities across the country and strengthen the housing finance system by:

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Helping renters build, improve, and maintain their credit when rent payments are reported to credit bureaus

Helping renters build, improve, and maintain their credit when rent payments are reported to credit bureaus

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Improving mortgage eligibility for potential homebuyers

Improving mortgage eligibility for potential homebuyers

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Reducing mortgage costs for homebuyers

Reducing mortgage costs for homebuyers

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Encouraging on-time rent payments for multifamily property owners

Encouraging on-time rent payments for multifamily property owners

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Enabling lenders to qualify more homebuyers for mortgages

Enabling lenders to qualify more homebuyers for mortgages

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Fostering financial wellbeing and confidence

Fostering financial wellbeing and confidence

 

As of September 2024, approximately 7,500* single-family mortgage applications

improved their DU recommendation by using rent payments in borrower-permissioned bank statements.

*Data from September 2021 to September 2024.

Since the Multifamily Positive Rent Payment pilot launched:

Over 460,000**

renters are having their rent payments reported

Over 43,000**

established a credit score.

56%** of renters

participating in the pilot saw an increase in their credit score.

**Data according to our vendors from September 2022 to June 2024. Rent reporting is one component that can contribute to a consumer's credit score. Positive Rent Payment reporting does not guarantee an increase in credit score.

Renters 

Open up more financial opportunities.

Rent payment reporting by property owners may help improve your credit, which could make it easier to qualify for more affordable financing options. This can make a positive difference in securing loans for things like a car, starting a small business, borrowing for education, or accessing housing.

It’s a positive.

Positive rent payment history is just that—positive. Late payments or missed payments won’t be reported.

Learn more about making rent count

For Renters
For Homebuyers

Homebuyers 

Paying rent of $300 or more for 12 consecutive months, alongside a minimum credit score of 620 or higher, can help homebuyers improve eligibility for a home loan.

More homebuying power.

If you pay rent on time each month, it is likely you will pay a mortgage consistently, too. That’s why 12 rent payments in a row can make up for a limited credit history and help you qualify for your first home loan.

It’s only a good thing.

If you miss a rent payment, it won’t count against you, and you can still be eligible for a home loan. To confirm you have consistent rent payments, lenders will electronically access your bank statements, safely and securely.

Learn how you can make rent count

 Multifamily property owners

Rent payment reporting can help you attract and retain tenants as it can be viewed as an amenity to help renters establish, maintain, or improve their credit scores. According to a TransUnion survey, 58% of renters were more likely to rent from someone who reports rent payments. This means you can help renters work toward their financial goals while having the benefits of on-time rent payments from tenants.

It’s a plus for you, too.

With rent reporting, 82% of renters say they are more motivated to make timely payments. Rewarding on-time rent payments could also help improve your net operating income by reducing delinquencies and turnover.

Try it free for a year

Take rent payment reporting for a test run at no cost for one year. Enroll with one of three designated vendors and the first year will be covered by Fannie Mae.

Learn how you can make rent count positively

For Multifamily Property Owners
Single-Family Lenders

 Single-family lenders

Considering on-time rent payments in your loan eligibility assessment for first-time homebuyers can provide a more comprehensive view of their creditworthiness. This could potentially lead to increased loan approval rates for aspiring borrowers and help you grow your business by expanding the pool of eligible homebuyers.

Make more informed decisions

A borrower's rent payment history can be factored into the eligibility recommendation by verifying 12-months of rent payments through Desktop Underwriter® (DU®) with an asset verification report. And, when DU V. 12.0 is released in January, rental payments reported on the borrower’s credit report will also be considered in DU’s assessment. This can open up more options for prospective homebuyers while still aligning with the strong credit underwriting standards within DU.

Make a positive impact

Including positive rent payment history in the loan approval process can create more access to mortgage financing—especially for those with a limited credit history—paving the way to a stronger housing market.

Learn how to start making rent count