Sperlonga Data & Analytics Teams Up With Freddie Mac to Boost Credit Building Initiatives




 

Unlocking Better Credit Opportunities for Renters and Empowering Landlords and Property Operators By Reporting Rent

 

[Los Angeles, California, September 15, 2023] – Sperlonga Data & Analytics Systems, a pioneer in credit reporting technology, announces its partnership with Freddie Mac. This collaboration aims to build renters’ credit scores by reporting on-time rent payments and providing property owners with a reward system that increases on-time collections and reduces evictions.

 

For far too long, rent payments, despite being a consistent financial obligation for millions of individuals, have not been fully considered in the traditional credit scoring models. This has left nearly 50 million credit-invisible and un-scorable Americans without access to various and better financial products like auto, home and student loans.

 

“Sperlonga Data & Analytics and Freddie Mac share the vision of using on-time rent payments to open better access to credit options for participating residents. Before, the only way to prove your creditworthiness is to take on credit or a loan. This initiative allows tenants to build their credit without incurring additional debt. Whether you are trying to build your credit profile for the first time, recovering from prior bad credit decisions, or just trying to boost your score, renters shouldn’t pass up on getting their on-time rent payments recorded in their credit reports. This could increase their credit score by up to 42 points on average. In today’s economy, a good credit score could save you tens of thousands in interest rates,”

Matt Martin, Chairman and founder of Sperlonga Data & Analytics.

 

“Meanwhile, this allows property owners to incentivize on-time payments, thereby reducing the chances of eviction and securing a consistent cash flow. One eviction could easily set them back at least $5,800. That makes one eviction too many. Since we started reporting rent payments in 2020, our clients have seen a dramatic reduction in rent late payments by as much as 30% in the first 90 days of reporting.”

Matt Martin, Chairman and founder of Sperlonga Data & Analytics.

 

Through this partnership, property owners of Freddie Mac-financed properties can report their residents’ on-time payments to TransUnion, Equifax, and Experian through Sperlonga Data & Analytics at no charge to them and their residents for the first year when they join the program before December 31, 2023.

 

“This partnership with Sperlonga advances our goal of making on-time rent reporting an industry standard and expanding housing and credit opportunities, particularly for communities that have long been underserved,”

Corey Aber, Vice President of Mission, Policy and Strategy at Freddie Mac Multifamily.

 

This rent payment reporting program only reports positive rent payments. Residents may opt out of this program if they prefer, and those who miss a payment are unenrolled to preserve their credit standing.

 

About Sperlonga Data & Analytics

Established in 2011, Sperlonga Data & Analytics is a credit reporting technology company on a mission to provide fully integrated and seamless credit reporting solutions for industries like rental and HOA, which have traditionally not had access to the credit reporting ecosystem. Sperlonga’s Rent Payment Reporting program provides rental property owners with a great incentive system to motivate consistent on-time payments and gives residents access to better financial products with better credit. Learn more at sperlongadata.com/rent-reporting-for-freddie-mac-borrowers.

 

About Freddie Mac

Freddie Mac is a prominent player in the housing finance industry, working to make home ownership more accessible and affordable. Freddie Mac aims to create a more equitable housing finance system through innovative partnerships and solutions. For more information, visit freddiemac.com.

 

Media Contact:

Matt Martin
Chairman and Founder
[email protected]