Rent History Now Included For Mortgage Approval Fannie Mae

[Joe Splitrock]

Fannie Mae announced effective September 18th that they will now include last 12 month rent payment history in DU as part of the approval process. Their stated goal is to help more renters become home owners. This does not require the landlord to report rent payments to the credit bureau. They will scan 12 months worth of bank statements to look for consistent payments. This can only be used in a positive manner, so missing or late payments do not count against the applicant. Good information for real estate agents to have and it is worth mentioning to renters that on time payment history will help them if they wish to buy a home in the future.

https://www.fanniemae.com/posi...