Fannie Mae launches pilot program to include on-time rent payments in credit reports. That could be a game changer for renters. Here’s why.
When tenants pay their rent on time, it largely fails to improve their credit scores, while homeowners reap the benefits of better credit by making their mortgage payments. That lopsided situation is starting to shift in renters’ favor. Fannie Mae FNMA, -0.08%, the government-backed mortgage giant, announced Tuesday that it is launching a pilot program…