Resident Enrollment Checklist 

 

Intake  Resident completed the Financial Coaching Intake Form  

Resident completed the Rent Reporting Intake Form 

Resident completed the Credit Report Authorization Form  

Outreach/Education  Resident received the Rent Reporter FAQs and is aware of the key components of rent reporting 

Resident Readiness Assessment  Staff reviewed the Guidance for Assessing Resident Readiness and with the resident, decided if 

they are a good fit. 

Enrollment  Resident reviewed and signed the Summary of Rights and Consent Form  

Staff referred resident to other resources/services (financial coaching, credit union, matched 

savings, etc.) if applicable 

Post‐Enrollment  Complete a follow up plan with client for on‐going tracking and support 

Schedule a follow up appointment no more than three months later 

 

Rent Reporting Intake Form

Client Name: Date:

How did you hear about Rent Reporting?

☐ Property manager ☐ Neighbor

☐ Flyer/ Ad/ Sign ☐ Property event

☐ Prosper Center referral ☐ Other referral:

Do you currently have a bank account?

☐ Yes ☐ No

Rental Information:

Foundation Communities Property: ☐ Cherry Creek ☐ Sierra Ridge ☐ Buckingham Place Monthly Rent Payment: $

Primary Rent Payment Method: ☐ Check ☐ Money Order ☐ Credit card ☐ Other:

Do you pay any fees for your payment method? If yes, how much? ☐ No ☐ Yes $ Credit Score Tracking: Credit score at first financial coaching appointment: Date: Credit score at three-month financial coaching appointment: Date: Would you like to report historical rent payments at your current property?

☐ Yes ☐ No

If yes, how many months of rental history to report (up to 24 months)?

CBA-Esusu Rent Reporter - FAQ for Residents

Q: What is rent reporting?

A: Rent reporting is the monthly reporting of tenant rent payments to at least one of the major consumer

credit bureaus for inclusion on a traditional consumer credit report.

Q: What is CBA-Esusu Rent Reporter and how does the process work?

A: After you sign up for the program, each month your housing provider will send your rental payment

information through a secure site to Esusu, which will then submit it to the credit bureaus. This will allow you

to get credit for paying your rent.

Q: Can CBA-Esusu Rent Reporter help me build my credit score?

A: Yes, the addition of rental payments as trade lines on a traditional credit report can help you build or

establish a credit score. There are no guarantees, but a participants in a rent reporting pilot conducted by

Credit Builders Alliance from 2012 - 2014 saw an average credit score increase of 23 points.

Q: How long will it take before my rental payments appear on my credit report?

A: It typically takes 45 to 60 days before reported rent payments appear on your credit report. For example,

your October 1 payment should appear on your credit report by December 1.

Q: What credit bureau(s) does CBA-Esusu Rent Reporter report to?

A: Currently CBA-Esusu reports into the major consumer credit bureau, Equifax. We anticipate reporting into

the other two major consumer credit bureaus, Experian and TransUnion, by 2019.

Q: Can Esusu report my past on-time rent payments or just on-time payments once I enroll

and moving forward?

A: Yes, CBA-Esusu can report up to 24 months of your historical rental payments depending on how long you

have been renting from your current landlord. That means the first time your rental payment information is

reported to any of the credit bureaus, you may benefit immediately from up to two years of positive rental

payment history!

Q: Is my data and personal information, such as banking information, address and social

security number, safe?

A: Yes, Esusu hosts your data on our secured rental reporting platform and reports it securely into the credit

bureaus. Esusu prides itself on its security and complies with many standards of the financial services

industry.

Q: Do I have to opt in to have my rental payment information reported?

A: Yes, you must opt in. CBA-Esusu will not report your data to the credit bureaus without your permission to

do so. Your consent can be collected by your housing provider.

Q: What if I want to opt out of the program?

A: Please reach out to your housing provider immediately and they can unenroll you from the program and

the rent will stop being reported to the credit bureaus. Once you opt-out, you cannot opt back in for six

months.

Q: What are potential unintended consequences from opting in?

A: For those that already have multiple positive lines of active, open credit rent reporting may not boost their

score. The addition of a new rent reporting tradeline may cause a temporary dip in “length of credit history”:

one factor among many that make up a credit score. In addition, any payment over 30 days late will be

reported as so and can damage a person’s credit score. For this reason, it’s important to make sure a resident

is a good fit for rent reporting before enrollment, and, once a resident is enrolled, maintain an open line of

communication so they have access to support and can disenroll if need be.

Q: What happens if I notice a mistake in the rental payment information listed on my credit

report?

A: CBA-Esusu has a robust dispute resolution process. Please communicate the issue to your housing provider

as soon as you see it and we will work with your housing provider to resolve the matter within the timeframe

mandated by the Fair Credit Reporting Act.

Q: If I enroll, will the rental tradeline show up on everyone in my household’s credit report?

A: No. Anyone on the lease can enroll, but each person must opt-in themselves in order for the rental

tradeline to show up on their credit report. This means that an individual can enroll, and their spouse or co-

head-of-household can come to their own decision about opting-in. Multiple members of the household can

benefit from rent reporting!

Q: What happens if I pay my rent late or miss a payment?

A: If your rent payment is more than 30 days late, or you miss a payment completely, CBA-Esusu is required

to report that information, and it could hurt your credit score. Contact your housing provider ahead of time if

you think you may be late with or miss a payment.

Q: What if I move?

A: If you move and have a new housing provider, your rental tradeline will report as closed and will no longer

benefit but will not hurt your credit. You can ask your new housing provider if there is opportunity to report

your rent.

Q: What will the rental tradeline look like on my credit report?

A: The tradeline will list your housing provider’s name and Esusu as the “creditor.” The amount paid will

equal whatever your rental payment amount was the prior month.

Q: I know that there are many different types of credit scores. Will rent reporting impact all of

these scores?

A: Rental tradelines are only factored into newer versions of credit scores. While the rental tradeline will show

up on your Equifax credit report no matter what type of score they reflect, the tradeline will only influence

your score if the score is a Vantage Score 3.0 and 4.0 and FICO 9.

Q: Where can I learn more about building and improving my credit profile?

A: There are many websites and tools that can be helpful for learning more about credit. The Consumer

Financial Protection Bureau is a good place to start. You can also ask your housing provider for on-site

services or referrals to other resources in your community.

Guidance for Assessing Resident Readiness There are two primary factors to take into account when assessing a resident’s readiness for rent

reporting: 1) history of paying rent on time and 2) credit profile characteristics.

A third factor is a resident’s motivation to build credit. If they are engaged, have goals that relate to

credit building, this can be the factor that shift someone who does not meet all the “yes” criteria right

away, into that category.

Ultimately, the decision to enroll in rent reporting should be in the resident’s hands. Generally, rent

reporting can be considered a low risk strategy for establishing new credit history. As a practitioner, you

can equip the resident with information and considerations so that they can make an informed decision

about their readiness for rent reporting.

Rental History

YES NO MAYBE

Always pays rent on time

Pays other bills on time

No outstanding balances on

rent ledger

In “crisis mode”

Strong tendency to miss rent

and other bill payments

Outstanding balances on rent

ledger

Struggling to make ends meet

every month

± Occasionally pays rent late

± Small outstanding balance on

rent ledger that can be resolved

Credit Profile Credit profile

characteristics Considerations Possible Action Step

Ideal Candidate for Rent Reporting

No credit history, wants to establish credit for the first time

Help resident think about how to leverage this new line of credit to achieve their goals!

Enroll in rent reporting Engage in credit/financial coaching and goal planning as needed

Thin credit file- not enough credit history to be have a score

Has 1-2 lines of active credit in good standing

Starting afresh after a bankruptcy

Good candidate for Rent Reporting, may need additional credit coaching/support

Revolving credit

utilization rate is > 30%

Can the resident work to decrease credit utilization to augment the positive impact of rent reporting? If so, look at other credit profile characteristics to make a determination.

Enroll in Rent Reporting

Multiple accounts in

collections

Are the collections are old and/or seeming manageable to the resident, AND the resident could use another line of credit?

Engage in credit/financial coaching Seek out professional advice from a non-profit credit agency and/or attorney as needed

In addition to collections, does the resident have derogatory active lines of credit?

Feeling overwhelmed by debt

Does the resident feel out of control or overwhelmed by their credit profile? Does the resident have multiple negative items on their credit report? Does they need more information on what managing debt and building credit is all about?

Already has 3 active open lines of credit in good standing

Are these lines that will be on the credit report for the foreseeable future or will some close soon? Will rent reporting add a new type of credit to the report? (Are they all revolving or all installment lines?)

Not Yet Ready for Rent Reporting

Multiple recent late

payments on credit

report

What was the cause of these late payments? Will the resident be able to get caught up soon?

Engage in credit/financial coaching Assist residents in taking steps towards a credit action plan Reassess readiness for rent reporting once key issue(s) are being addressed

Contemplating

bankruptcy

How might bankruptcy put the resident in a better position once it’s dismissed? How might bankruptcy set the resident back?

At risk of garnishment Can the resident set up a payment plan? Will a garnishment interfere with the resident’s ability to pay rent?

Working with a “debt repair” company

What steps is the company taking to “repair” the resident’s debt? Will adding a new debt misalign with other actions they are taking?

Is a current victim of

identity theft

Are there copious unfamiliar items on the resident’s credit report?

Further guidance for determining if “maybes” are a good fit: Discuss future confidence in ability to pay rent. Was there something circumstantial that led to

late payments in the past? Is the resident feeling confident about their ability to pay rent on

time in the coming months? This could be a good time for a financial coach to work with a

resident on a household budget (if useful).

Discuss the resident’s goals. Do they have a goal related to credit building? Will this goal be a

motivating factor? Is there a specific timeframe attached to the goal? For example, if a resident

has some recent debt in collections, but needs to establish active lines of credit because they

want to buy a house within the next six months, rent report is a great option.

Use a credit score simulator. Credit score simulators, such a Nerd Wallet’s, can help a resident

test what might happen if they add a new line of credit to their profile. While the score changes

aren’t exact, and the calculators can’t simulate adding a rental tradeline (so you can use another

type of credit as a proxy), this can give a general picture of the impact that rent reporting might

have on their score.

Give the resident enough information to decide themselves.

Other Credit Information to Take Into Account

Credit Score Factors & Suggestions If reviewing a resident’s credit report does not give you a clear answer on whether a resident is a good fit for rent reporting, it may be helpful to go back to the basics, including what are the factor that influence a credit score and the best practices for keeping these areas in good standing.

Source: Vantage Score

When Does Information

Fall Off the Credit

Report? The length of time an item

stays on a credit report

may also be helpful for

determining readiness. It’s

important to note that

date of first delinquency is

different than the statute

of limitations. Statute of

limitations vary by state,

and for some debts, by

jurisdiction.

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Summary of Rights and Consent Form Instructions to Applicant/Tenant

This packet contains information regarding the release of your personally identifiable information* and rental payment history to Experian RentBureau and Experian, TransUnion, Equifax, Credit Builders Alliance, Inc., and Esusu Financial, Inc. 1. Read this material which explains:

a) What “rental payment reporting” is and how it affects your Experian RentBureau and Experian, TransUnion, and Equifax credit report

b) The purpose of this release of information and why we are required to obtain this release of information from you, and

c) Other customer protections.

2. Sign on page two (2) that: a) You have read this form, or b) Foundation Communities has explained it to you, and c) You consent to the release of information for the purposes and uses described.

*Examples of Personally Identifiable Information include but are not limited to your name, address, social security number, date of birth, or other information that can be used on its own or with other information to identify you. See the enclosed FAQ for more information about what type of information may be furnished by us along with your rental payment history to Experian RentBureau and Experian, TransUnion, Equifax, Credit Builders Alliance, Inc., and Esusu Financial, Inc.

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Experian RentBureau and Experian, P.O. Box 9530. Allen, TX 75013 TransUnion, P.O. Box 6790. Fullerton, CA 92834 Equifax, P.O. Box 740241. Atlanta, GA 30374 Credit Builders Alliance, Inc., 1701 K Street NW, Ste. 1000, Washington, DC 20006 Esusu Financial, Inc., 215 West 125th Street, Room 410, New York, NY 10027

Notice To Tenant: You do not have to sign this form when it is given to you. You may take the form home with you to read or discuss with a third party of your choice and return to sign the consent on a date you have worked out with the housing owner/manager.

Purpose: In signing this Notice and Consent for Release of Information (this “Consent Form”), you are authorizing the Owner/Management Agent (the “O/A”) to disclose your personally identifiable information and rental payment information to Experian RentBureau and Experian, TransUnion, Equifax, Credit Builders Alliance, Inc. and Esusu Financial, Inc. Authority for Prohibiting the Release of Personally Identifiable Information Without Applicant’s/Tenant’s Consent: Section 6 of the Housing Act of 1937, the Privacy Act of 1974, 5 U.S.C. § 552a (Privacy Act), The Freedom of Information Act (FOIA), 5 U.S.C. § 552, and Section 208 of The E-Government Act are the primary federal statutes that limit the disclosure of information about public housing residents and recipients of assistance under the Housing Choice Voucher program. In addition, under 48 CFR Subpart 1524.1 and 24 CFR 5.212, HUD grant recipients and contractors must comply with the Privacy Act and all other provisions of Federal, State and local law with respect to the collection, maintenance, use and dissemination of personally identifiable information. These Federal laws require that personally identifiable information be safeguarded and

protected against disclosure, absent an exception under the Privacy Act or the consent of the applicant or tenant. Who Must Sign the Consent Form: In order for the O/A to report your rental payment information to Experian RentBureau and Experian, TransUnion, Equifax, each person who signs the lease to your unit must sign this Consent Form if they want their data reported. This Consent Form is applicable to applicants and tenants of HUD-funded or assisted properties. Penalties for Misuse of Your Personally Identifiable Information: The Privacy Act provides, in pertinent part: (a) any person who knowingly and willfully requests or obtains any covered record concerning an individual under false pretenses shall be guilty of a misdemeanor and fined not more than $5,000 (5 U.S.C. 552a(i)(3)); and (b) a person who falsely or fraudulently attempts to obtain records under the Privacy Act may also be subject to prosecution under such other criminal statutes as 18 U.S.C. 494, 495 and 1001.

Consent: I have read and understand the information contained in this Consent Form regarding the purposes and uses of

my personally identifiable information, and I consent to the release of my personally identifiable information for these

purposes and uses.

Name of Applicant or Tenant (Print) ___ Signature of Applicant or Tenant Date

Consent: I have read and understand the purpose of this Consent Form and its uses, and I understand that misuse of the

information to be released under this Consent Form may lead to personal and/or criminal penalties to me.

Name of Project Owner or his/her representative Title ___ Signature of Project Owner or his/her representative Date

Notice and Consent for the Release of Information

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Para información en español, visite www.consumerfinance.gov/learnmore o escribe al Consumer Financial Protection Bureau, 1700 G Street N.W., Washington, DC 20552.

A Summary of Your Rights Under the Fair Credit Reporting Act

The federal Fair Credit Reporting Act (FCRA) promotes the accuracy, fairness, and privacy of

information in the files of consumer reporting agencies. There are many types of consumer reporting agencies, including credit bureaus and specialty agencies (such as agencies that sell information about check writing histories, medical records, and rental history records). Here is a summary of your major rights under the FCRA. For more information, including information about additional rights, go to www.consumerfinance.gov/learnmore or write to: Consumer Financial Protection Bureau, 1700 G Street N.W., Washington, DC 20552.

You must be told if information in your file has been used against you. Anyone who uses a credit report or another type of consumer report to deny your application for credit, insurance, or employment – or to take another adverse action against you – must tell you, and must give you the name, address, and phone number of the agency that provided the information.

You have the right to know what is in your file. You may request and obtain all the information

about you in the files of a consumer reporting agency (your “file disclosure”). You will be required to provide proper identification, which may include your Social Security number. In many cases, the disclosure will be free. You are entitled to a free file disclosure if:

o a person has taken adverse action against you because of information in your credit report; o you are the victim of identity theft and place a fraud alert in your file; o your file contains inaccurate information as a result of fraud; o you are on public assistance; o you are unemployed but expect to apply for employment within 60 days.

In addition, all consumers are entitled to one free disclosure every 12 months upon request from each nationwide credit bureau and from nationwide specialty consumer reporting agencies. See www.consumerfinance.gov/learnmore for additional information.

You have the right to ask for a credit score. Credit scores are numerical summaries of your credit-

worthiness based on information from credit bureaus. You may request a credit score from consumer reporting agencies that create scores or distribute scores used in residential real property loans, but you will have to pay for it. In some mortgage transactions, you will receive credit score information for free from the mortgage lender.

You have the right to dispute incomplete or inaccurate information. If you identify information in

your file that is incomplete or inaccurate, and report it to the consumer reporting agency, the agency must investigate unless your dispute is frivolous. See www.consumerfinance.gov/learnmore for an explanation of dispute procedures.

Consumer reporting agencies must correct or delete inaccurate, incomplete, or unverifiable

information. Inaccurate, incomplete or unverifiable information must be removed or corrected, usually within 30 days. However, a consumer reporting agency may continue to report information it has verified as accurate.

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Consumer reporting agencies may not report outdated negative information. In most cases, a consumer reporting agency may not report negative information that is more than seven years old, or bankruptcies that are more than 10 years old.

Access to your file is limited. A consumer reporting agency may provide information about you only

to people with a valid need -- usually to consider an application with a creditor, insurer, employer, landlord, or other business. The FCRA specifies those with a valid need for access.

You must give your consent for reports to be provided to employers. A consumer reporting

agency may not give out information about you to your employer, or a potential employer, without your written consent given to the employer. Written consent generally is not required in the trucking industry. For more information, go to www.consumerfinance.gov/learnmore .

You may limit “prescreened” offers of credit and insurance you get based on information in

your credit report. Unsolicited “prescreened” offers for credit and insurance must include a toll-free phone number you can call if you choose to remove your name and address from the lists these offers are based on. You may opt out with the nationwide credit bureaus at 1-888-5-OPTOUT (1-888-567-8688).

You may seek damages from violators. If a consumer reporting agency, or, in some cases, a user of

consumer reports or a furnisher of information to a consumer reporting agency violates the FCRA, you may be able to sue in state or federal court.

Identity theft victims and active duty military personnel have additional rights. For more

information, visit www.consumerfinance.gov/learnmore . States may enforce the FCRA, and many states have their own consumer reporting laws. In some cases, you may have more rights under state law. For more information, contact your state or local consumer protection agency or your state Attorney General. For information about your federal rights, contact:

TYPE OF BUSINESS: CONTACT: 1.a. Banks, savings associations, and credit unions with total assets of over $10 billion and their affiliates b. Such affiliates that are not banks, savings associations, or credit unions also should list, in addition to the CFPB

a. Consumer Financial Protection Bureau 1700 G. Street N.W. Washington, DC 20552 b. Federal Trade Commission: Consumer Response Center – FCRA Washington, DC 20580 (877) 382-4357

2. To the extent not included in item 1 above: a. National banks, federal savings associations, and federal branches and federal agencies of foreign banks b. State member banks, branches and agencies of foreign banks (other than federal branches, federal agencies, and Insured State Branches of Foreign Banks), commercial lending companies

a. Office of the Comptroller of the Currency Customer Assistance Group 1301 McKinney Street, Suite 3450 Houston, TX 77010-9050 b. Federal Reserve Consumer Help Center P.O. Box. 1200 Minneapolis, MN 55480

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owned or controlled by foreign banks, and organizations operating under section 25 or 25A of the Federal Reserve Act c. Nonmember Insured Banks, Insured State Branches of Foreign Banks, and insured state savings associations d. Federal Credit Unions

c. FDIC Consumer Response Center 1100 Walnut Street, Box #11 Kansas City, MO 64106 d. National Credit Union Administration Office of Consumer Protection (OCP) Division of Consumer Compliance and Outreach (DCCO) 1775 Duke Street Alexandria, VA 22314

3. Air carriers Asst. General Counsel for Aviation Enforcement & Proceedings Aviation Consumer Protection Division Department of Transportation 1200 New Jersey Avenue, S.E. Washington, DC 20423

4. Creditors Subject to the Surface Transportation Board

Office of Proceedings, Surface Transportation Board Department of Transportation 395 E Street, S.W. Washington, DC 20423

5. Creditors Subject to the Packers and Stockyards Act, 1921

Nearest Packers and Stockyards Administration area supervisor

6. Small Business Investment Companies

Associate Deputy Administrator for Capital Access United States Small Business Administration 409 Third Street, S.W., 8th Floor Washington, DC 20549

7. Brokers and Dealers Securities and Exchange Commission 100 F Street, N.E. Washington, DC 20549

8. Federal Land Banks, Federal Lank Bank Associations, Federal Intermediate Credit Banks, and Production Credit Associations

Farm Credit Administration 1501 Farm Credit Drive McLean, VA 22102-5090

9. Retailers, Finance Companies, and All Other Creditors Not Listed Above

FTC Regional Office for region in which the creditor operates or Federal Trade Commission: Consumer Response Center – FCRA Washington, DC 20580 (877) 382-4357