A collaboration between rent-reporting platform Esusu and a leading trade group has helped bring in more than 15,000 new mortgage originations over its first year in operation, representatives say.
Efforts to incorporate new rent underwriting criteria contributed to a total of 15,302 home loans totaling $6.9 billion, data from the New York-based financial technology platform and the National Rental Home Council showed.
Spencer Lee is a New York-based technology reporter at National Mortgage News, whose coverage area spans artificial intelligence, fintech platforms and policy developments.A reporter at National … Read full bio
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What developments around rent reporting and new credit standards portend for mortgage companies. Part 2 of a series on government-sponsored enterprise changes.
Mortgage rates have stopped the run of increases following the September Fed meeting but consumers are not likely to notice.
Federal Reserve Chair Jerome Powell said today's high mortgage rates are dissuading some would-be sellers from putting their homes on the market, further limiting lending opportunities in an environment already constrained by low inventory
The move builds on the government-sponsored enterprise’s previous program that facilitated the collection of more rent payment records from tenants who work with its multifamily borrowers.
The share of existing properties acquired by single-family rental providers has fallen by 24 percentage points since 2019, while surging BFR numbers made up much of the difference.
