Fannie Mae is Helping Renters Qualify for Mortgages

Fannie Mae, privately owned and government supported organization, backs mortgage loans that lenders make and resells them to investors.  Starting September 18, 2021 those working with Fannie Mae will be able to include rent payments as part of the applicant’s evaluation process.  Usually a lender looks at the applicant’s credit report and FICO score, but with this new program, Fannie Mae can also request that rent payment history also be looked at.