Information about mortgage underwriting and pen on the table.

Freddie Mac Will Include On-Time Rent in Underwriting

Freddie Mac recently announced that, beginning July 10, 2022, on-time rental payments will be included in its underwriting system. This should make it possible for more underserved groups to qualify for mortgages.

With the borrower’s permission, mortgage lenders can submit a borrower’s bank account data that shows 12 months of on-time rent payments to Freddie Mac’s automated underwriting system, LPA. Eligible rent payment data includes check, electronic transactions, or digital payments made through Zelle, Venmo, or PayPal (READ MORE)

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