Sen. Ossoff is calling on executives of several rental housing providers to help loyal tenants build credit and achieve homeownership
Washington D.C. — U.S. Senator Jon Ossoff is working to help Georgia renters build credit and become homeowners.
This week, Sen. Ossoff launched an inquiry with some of the largest rental housing providers to help renters have better opportunities at building credit and becoming homeowners.
Sen. Ossoff is calling on executives of Greystar; Harbor Group International; Starwood Capital; Dominium Apartments; the Hallmark Companies; and the Michaels Organization, to make it easier for families to join Fannie Mae’s Multifamily Positive Rent Payment Reporting pilot program, which helps renters build a positive credit history and wealth.
“As one of the largest multifamily housing owners to be financed by Fannie Mae, you are responsible for providing affordable rental housing to countless individuals and families. As you know, building wealth has become increasingly difficult for many Americans, especially individuals without credit scores or substantial credit histories – most of whom are low-income,” Sen. Ossoff wrote to each of the housing providers.
A 2020 Consumer Financial Protection Bureau (CFPB) report found that approximately 26 million adults in the United States lack a credit record and 19 million have a credit record but no score.
Adults without credit record or scores include loyal tenants who pay rent on time each month. Until recently, rental history has not been reported to the three major credit bureaus: Experian, Equifax, and TransUnion.
Sen. Ossoff is continuing his work to ensure all Georgians can achieve homeownership.
Earlier this year, Sen. Ossoff introduced the bipartisan HELPER Act alongside Sen. Rubio (R-FL) to help first responders, teachers and law enforcement officers to buy their first home.
Last year, Sen. Ossoff pushed the Federal Housing Finance Agency to address the inadequate supply of affordable housing across rural Georgia.
Read Sen. Ossoff’s inquiry to rental housing providers below: