Some Americans will now be able to use their rent payment history to help them qualify for a mortgage, Federal Housing Finance Agency (FHFA) Director Bill Pulte announced on July 8.
In a statement on social media platform X, Pulte said the FHFA will accept the consumer credit-scoring system VantageScore when evaluating consumers’ creditworthiness for mortgages sold to Fannie Mae and Freddie Mac.
“Effective today, to increase competition in the credit-score ecosystem and consistent with President Trump’s mandate to lower costs, Fannie (Mae) and Freddie (Mac) will allow lenders to use the VantageScore 4.0 model without requiring new infrastructure,” Pulte wrote.
In a separate post, Pulte said the new directive will allow Americans to use their rent to qualify for a mortgage….