Entrata Continues to work with Fannie Mae as It Extends Its Positive Rent Payment Pilot Through 2024
LEHI, Utah, Nov. 14, 2023 /PRNewswire/ -- Entrata, a leading multifamily industry operating system, today announced that recently acquired Rent Dynamics will continue as one of three vendors to work with Fannie Mae for its Positive Rent Payment pilot, which first launched in late 2022. The pilot is extending for another year through December 2024 following the success in year one.
- Fannie Mae's Multifamily Positive Rent Payment pilot helps residents establish or build their credit scores by sharing timely rent payment data with the three major credit bureaus through Entrata.
- Entrata results from the Fannie Mae pilot saw an average 26-point lift in their credit score in the first year of participation alone.
- To encourage adoption, Fannie Mae is offering more multifamily property owner-operators the opportunity to participate in the pilot through December 2024 by collecting and disseminating rent payment data for a 12-month period for property owner/operators of Fannie Mae finance properties.
- For more information, visit Fannie Mae's Positive Rent Payment pilot and for more information about Entrata and its continually expanding platform, visit www.entrata.com .