In November 2021, Freddie Mac Multifamily launched a credit-building initiative that has facilitated the reporting of on-time rent payments to the three major credit bureaus. This work has helped hundreds of thousands of renters build their credit file and has established credit scores for tens of thousands of renters who were previously credit invisible.

How It Works

Multifamily borrowers with a loan financed by Freddie Mac with at least 24 months remaining in the loan term can receive a year of credit-reporting services at significantly discounted or no cost from one of Freddie Mac’s participating rent-reporting vendors. Reference our Credit Building Fact Sheet for a one-page overview of how this initiative works. This FAQ resource further explains the process for enrolling a property, including how we’ve updated and streamlined the process.

Our initiative emphasizes several standards for participating vendors that we believe are crucial to a resident-centered credit-building initiative:

  • A vendor must report on-time rent payments to all three credit bureaus at no cost to renters.
  • To ensure that renters receive credit for their past rental history, vendors report up to 24 months of available, prior on-time rental payments.
  • To protect the security of renters’ data, vendors must have clear security and privacy standards in place.
  • To ensure platforms are efficient for multifamily properties, vendor platforms must work with existing property management software systems, and they must be easy to use for renters and property owners.

Freddie Mac Credit-Building Vendors