In the News
| PRBC Continues to Aid Underreported Consumers in Getting Fair Credit Score | |
| January 30, 2008 - Broker Universe - James Comtois | |
| With the current credit reporting system, a number of consumers that either have no credit history or very little credit history are often underreported and underscored, because most credit bureaus don't consider electric or cable companies creditors... | |
| The Prime Opportunity Among the 'Thin Files' | |
| November 13, 2007 - American Banker - Kate Berry | |
| Though the credit crunch obviously has made it harder for consumers to get a mortgage, it is also paradoxically spurring some financial institutions to give more thought to "thin-file" consumers: those who fall outside the credit-tracking norms because they do not have bank, card, or loan accounts... | |
| Finally, Credit For Paying the Bills | |
| October 1, 2005 - Washington Post - Kenneth R. Harney | |
| More than 150 independent credit-reporting companies across the country will soon begin offering mortgage lenders, brokers and other creditors a way to more accurately evaluate your full credit profile... | |
| To build your credit, pay the rent | |
| September 27, 2004 - Christian Science Monitor | |
| It's hard to get credit if you don't have it already. But now there's another way to persuade lenders to give you a good rate on a home mortgage or auto loan. [PRBC] tracks how well participants pay their expenses - everything from rent and utilities to day care and insurance. It's free for individuals to sign up, and... lenders will be able to use the scores in addition to, or instead of, traditional credit scores... | |
| Opportunity and Progress, A Bipartisan Platform for National Housing Policy | |
| September 23, 2004 - Harvard University, Joint Center for Housing Studies | |
| Written for the President and Congress by former HUD Secretaries Cisneros and Kemp, former FHA Commissioner and JCHS Director Nicholas Retsinas, and a Harvard Senior Scholar and former CEO of the National Association of Home Builders Kent Colton. | |
| PRBC's most important innovation is in making it possible for renters to demonstrate their credit-worthiness. Aggregated data from PRBC could ultimately be used to develop new loan products. It could change how investors evaluate rental housing. It could influence the pricing of mortgages and insurance. ...Michelle Singletary observed that PRBC "would especially benefit black and Hispanic consumers, who lag significantly behind whites in homeownership but often have rent-paying histories that are not included in credit scoring models... Excerpt Full Preview Edition | |
| Building Assets: Making Rent Count | |
| Summer 2004 - Ford Foundation Report | |
| A recoverable grant from the Ford Foundation is helping the [PRBC] bureau to establish partnerships with community groups to help low-income and minority renters... | |
| Credit scores for overlooked borrowers | |
| August 20, 2004 - Inman News | |
| An estimated 50 million American consumers don't have enough of a credit history to warrant a credit score. But it won't be only consumers PRBC is helping; banks and other lenders are interested in a credit score based on rent and other bill payments... | |
| Earning Credit For Paying Rent | |
| February 22, 2004 - Washington Post - The Color of Money | |
| Just think. If the almighty credit-scoring models took such payments into account, perhaps many people wouldn't get trapped into charging so much on their credit cards in the name of building a good credit history... | |
| Renters Soon Get a Chance To Boost Credit Records | |
| January 10, 2004 - Washington Post - The Nation's Housing | |
| A new national credit bureau, based in Annapolis, is gearing up operations, and its sole mission is to track the payments that nobody else tracks. The new bureau -- PRBC (Pay Rent, Build Credit) -- plans... | |
| 2003 Kids Count Data Book - The High Cost of Being Poor, Another Perspective on Helping Low-Income Families Get By and Get Ahead | |
| 2003 - Annie E. Casey Foundation | |
| No amount of consistent, timely payment can be recorded as positive credit behavior in the existing system. One promising idea to address this issue is the Pay Rent, Build Credit Data Network... | |
| Renters Getting a Chance to Make Credit (Report) History | |
| November 1, 2002 - American Banker | |
| Credit card, student loan, and car payments all show up on credit reports, but the largest expenditure for nearly 40% of Americans - rent - is never tracked... | |
| Renters Can Build Credit | |
| September/October 2002 - NHI Shelterforce Online | |
| Homeowners have always been able to develop a solid credit history simply by paying their mortgage on time. Now, renters who pay their rent on time will have a chance to build on their own good record... | |
| Annapolis Firm Plans Program to Help Renters Establish Credit by Making Payments Through Banks | |
| September 9, 2002 - HDR Current Developments | |
| An Annapolis, Md., firm is leading a campaign to... | |
| Giving Credit Where It's Due | |
| February 19, 2002 - Progressive Policy Institute | |
| Finding New Ways to Build Credit Can Help Low-Income Consumers Buy Homes... | |
| Capital Accounting for Those Without Banks | |
| June 28, 2001 - The Wall Street Journal | |
| Bank accounts are passports required for admission to the mainstream economy. About 10 million Americans... | |
| From Blind Justice, An Eye-Opener | |
| May 31, 2001 - The Wall Street Journal | |
| Possible solution to unintended, yet distinct social and racial disparities associated with other-wise effective automated underwriting and credit risk management technologies- track apartment rent payments... | |
Featured Publication
Opportunity and Progress
Harvard University, Joint Center for Housing Studies
To order the complete book, contact:
Angela Flynn
The Joint Center for Housing Studies
Harvard University
1033 Massachusetts Avenue, 5th floor
Cambridge, MA 02138
phone 617.495.7908
fax 617.496.9957
email angela_flynn@harvard.edu
