topic Quick question in Mortgage Loans

Quick question

Anonymous — Sun, 10 Jan 2021 02:05:03 GMT

Happy Saturday! As I sit around contemplating life, I was hit with a question. (This happens often as I over analyze everything.) Does having rent report to the credit bureaus help mortgage scores?

Re: Quick question

Slabenstein — Sun, 10 Jan 2021 02:11:01 GMT

If you mean voluntarily reporting it through something like Experian Boost, no, it wouldn't. It would lower your AAoA and increase your number of accounts with a balance.

Re: Quick question

Anonymous — Sun, 10 Jan 2021 02:37:26 GMT

Thanks for the reply. I'm not asking for it to be reported. Our landlord is somehow reporting it. I was just curious.

Re: Quick question

Slabenstein — Sun, 10 Jan 2021 02:51:38 GMT

In that case its effect is probably either going to be negative or neutral, depending on whether it's contribution to aging or accounts with balances metrics crosses a scoring a threshold. On a thick, aged profile, it probably isn't doing any harm.