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STOCK MARKET NEWS, APRIL 5, 2023: DOW CLOSES HIGHER, NASDAQ DROPS


LIVE UPDATES ON STOCKS AND FINANCIAL NEWS, INCLUDING THE S&P 500, DOW AND NASDAQ
COMPOSITE.



Last Updated: 

April 6, 2023 at 4:22 AM EDT

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3 months ago


RENT PAYMENTS HELPED BOOST CREDIT SCORES, DATA FINDS

By

Gina Heeb

A For Rent, For Sale sign in Washington. (SARAH SILBIGER/REUTERS)

Renters saw their credit scores significantly boosted after property managers
started reporting their payment histories to credit bureaus, according to new
data.

Rental payment history led to credit scores increasing by an average of 46
points, according to data from Freddie Mac and the financial technology firm
Esusu Financial. It also helped establish scores for more than 27,000 renters
for the first time, the data showed.

In 2021, Freddie Mac offered incentives like closing cost credits to multifamily
property owners who agreed to report on-time rental payments to Experian,
Equifax and TransUnion. Program participants are required to have a process for
avoiding a negative credit impact when renters miss payments.

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