Fannie Mae uses Blend rent payment data in credit access expansion push


FILE PHOTO: Fannie Mae headquarters is seen in Washington, DC, U.S. on February 21, 2014. REUTERS/Kevin Lamarque

(Reuters) - U.S. housing finance giant Fannie Mae has started integrating data from digital banking startup Blend Labs Inc. into its underwriting program to make it easier for lenders to evaluate a borrower's rental payment history when approving a home loan.

Fannie's effort to include rental payment history in the loan approval process comes as President Joe Biden's administration pushes to improve access to credit and address inequities in the housing system.

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