Sentences with phrase «utility bill payment history»

Whether financing energy efficiency or solar installations, a critical feature of a fair and accessible on - bill financing program is to allow customers to qualify based on their utility bill payment history, rather than credit scores.

Not exact matches

The company will expand its credit history requirements to include «nontraditional sources, like tuition, rent, or utility bill payments.»

Borrowers can use payment histories on items such as utility bills, cell phone bills, car insurance bills and apartment rent to build non-traditional credit.

The company will expand its credit history requirements to include «nontraditional sources, like tuition, rent, or utility bill payments.»

As I understand it most other countries would build a credit report based on debt payment history (utilities, taxes, bills), income and the presence of any registered instances of non-payment.

In 2015, Fair Isaac — the company behind the FICO score — introduced a new scoring system that analyzes consumers» payment history with utility, cable and cell phone bills, among other items.

In addition, FHA has no objection to the use of various service providers now operating that are able to develop a bill payment history, as well as a score by obtaining rental payment history, utility trade - lines, and other common recurring non-reporting bill payments.

For instance, in order to assess the credit score of people with limited credit history, VantageScore uses alternative data by factoring in reoccurring payments such as utilities, rent or phone bills into its scoring formula.

If you have a positive payment history for non-credit bills, such as utilities, offer to show that to the landlord.

Both firms are providing alternative data for the new score, including payment history on utility bills, cable bills and cellphone bills — information held in a database maintained by Equifax — as well as public record information, including address history, held in the LexisNexis database.

The old - fashioned methods of calculating a credit score don't work in your favor, as they favor a lengthy credit history (which you often don't have) and ignore payments you've responsibly made each month for rent, cellphone bills, and utilities.

Your credit report is a record of money - related activity (balances, charges, and payment history) on credit cards, some bills (such as utility bills), and loans associated with your name and Social Security number.

The program allows the use of non-traditional tradelines to establish credit history, including utility bills, gym membership, and most other accounts which require monthly payment.

The bill includes a requirement that Fannie Mae and Freddie Mac, the country's largest source of home mortgage funds, accept rent and utility payment history as part of loan applicants» credit scores.

This allows borrowers to use accounts such as utility bills, phone bills, and rent payments in good standing as proof of credit history.