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Jetty announces the launch of Jetty Credit

By Edlyn Cardoza

September 28, 2022

  • credit history
  • Credit Management
  • Credit Score

Jetty, Jetty Credit, Financial Services, Rent Payments, Credit History, Fannie Mae, Equitable Housing Finance Plan, Credit Score, Jetty Deposit, Jetty Rent, Jetty Protect, PayPal Ventures, Credit Management, USAJetty, the financial services company on a mission to make renting a home more affordable and flexible, announced the launch of Jetty Credit, a new service that reports rent payments to all three credit bureaus, allowing renters to build their credit history.

Jetty Credit will launch as part of Fannie Mae’s Equitable Housing Finance Plan, which aims to remove barriers black homeowners and renters face throughout their housing journey. As part of this program, Fannie Mae will fully subsidise Jetty Credit for a subset of renters who live in properties with existing Fannie Mae loans.

“The majority of renters are getting zero lift in their credit score for paying their biggest monthly expense and Jetty Credit has been designed to fix that,” said Mike Rudoy, Jetty’s Co-Founder and Chief Executive Officer. “Jetty Credit fits perfectly into our broader suite of financial tools designed to help renters and we couldn’t be more proud to launch it with Fannie Mae, a company who shares in our mission.”

The newly launched service will form part of Jetty’s existing financial solutions platforms. This platform already includes Jetty Deposit, a security deposit alternative; Jetty Rent, a flexible rent payment program; and Jetty Protect, modern renters insurance. These products are introduced to renters through Jetty’s network of property partners.

“Fannie Mae’s Multifamily Positive Rent Payment Reporting pilot program helps renters build their credit history and improve credit scores, bolstering equitable access to credit,” said Michele Evans, EVP and Head of Multifamily, Fannie Mae. “Jetty’s partnerships and technical integrations with owners of Multifamily rental units will help track timely rent payments and share the data with credit bureaus to be factored into a renter’s credit profile.”

Alongside the Fannie Mae program, Jetty will make Jetty Credit available across its entire partner network and the broader property ecosystem. The development of the service follows recent investments from PayPal Ventures and Experian Ventures.

IBS Intelligence reported that Jetty announced a new partnership with AMLI Residential, one of the preeminent multifamily companies in the nation. Jetty Deposit, the deposit replacement that swaps traditional cash deposits for a low monthly or one-and-done payment, is now available across more than 22,000 luxury apartments within AMLI’s portfolio.

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