Arbor is working to make the industry more equitable for everyone. This includes establishing new ways to improve economic mobility and narrow the wealth gap renters may face today. There are 44+ million renter households in the U.S., but less than 10% of on-time rents are reported to credit bureaus. Overall, renters have much lower credit scores than homeowners and some renters have no score at all (i.e., “credit invisible”). To address these disparities, Freddie Mac will incentivize borrowers to report on-time rents through credit-reporting servicers, such as Esusu Financial Inc. Esusu’s platform enables reporting on-time rent payments to the three major credit bureaus, helping build renters’ credit scores.
|Benefits for Renters||
|Benefits for Borrowers||
|Rent Reporting – How Esusu Works With Borrowers||
|Enroll Now||Please reach out and enroll with Esusu directly at [email protected]|
Borrowers participating in Freddie Mac’s credit-building program are eligible for the following discounts. Please reach out to your Freddie Mac representative for more details, including available subsidies.
|Esusu Market Rates||Freddie Mac Discounted Rates|
|Targeted Affordable Housing (TAH) and Conventional|
|Maximum Monthly Fees||$2.00/unit||$1.50/unit|
|*If multiple properties are enrolled at once, the enrollment fee is waived for each additional property after the first.|
|Small Balance Loans (SBL)|
|Onboarding Fee||$3,500||No onboarding fee|
|Maximum Monthly Fee||$2.00/unit||No monthly fee|
|Maximum Annual Fee||N/A||5-50 units $1,000 >50 units $2,000|
|Volume Discount||N/A||Enroll 10+ properties 30% Enroll 20+ properties 50%|