Freddie Mac is supportive of Optigo® lender, borrower and property owner efforts to adopt practices that will strengthen the financial health and economic mobility of our nation’s renters. One way we can achieve this is through our credit-building initiative that facilitates 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. We’ve pioneered this impactful work since the launch of our credit building initiative in 2021. 

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:

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

  • 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 strong 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.

Reference our Credit-Building Fact Sheet for an overview of the initiative or our FAQ resource for tips on how to enroll a property.

While Credit Building has seen great success, this is just one of the ways we’re working to create a better multifamily marketplace. Discover more ways to support renters and open doors to new possibilities.