Freddie Mac's Loan Product Advisor has integrated rental payment history into its credit evaluations, enabling lenders to make better-informed decisions for borrowers. This move, supported by Blue Sage Solutions, is aimed at promoting home affordability and inclusivity in the mortgage process, particularly benefiting first-time homebuyers and underserved communities. Research indicates significant discrepancies between renters and homeowners, highlighting the potential for improved underwriting practices through accounting for rental history. This collaborative approach reflects a shared goal of addressing the substantial wealth gap between these two groups.
Our collaboration with Freddie Mac underscores our commitment to leveraging innovative solutions that promote home affordability, said Carmine Cacciavillani, founder and chairman of Blue Sage Solutions.
Blue Sage's support of borrower provided rental history is consistent with our commitment to support more borrowers with their homeowner journey.
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