07/26/2022
📣 This is Huge! 📣
Freddie Mac has announced that it will increase homeownership opportunities for first-time homebuyers by considering on-time rent payments as part of the company’s loan purchase decisions.
“Millions of American adults lack a credit score or have limited credit history. By factoring in a borrower’s responsible rent payment history into our automated underwriting system, we can help make home possible for more qualified renters, particularly in underserved communities,” said Michael DeVito, CEO of Freddie Mac.
Source: RISMedia.com