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PHADA “HUDdles” with Secretary Carson on Credit Reporting of Rental Payment Data

David Weber, PHADA Policy Analyst

PHADA policy analysts Arlene Conn and David Weber met with HUD leadership in a February 24 stakeholder “HUDdle” on the subject of credit reporting for public housing residents. A recent report from the Policy and Economic Research Council (PERC) through HUD’s Policy Development and Research (PD&R) unit’s Research Partnership program studied the effects of public housing authority (HA) reporting of rent payments made by public housing residents as a means to either create or improve credit history. In addition to Secretary Ben Carson and Assistant Secretaries Hunter Kurtz and Seth Appleton, Todd Richardson, General Deputy Assistant Secretary of PD&R led a discussion amongst industry groups and many of the leading credit reporting companies.

The study, “Potential Impacts of Credit Reporting Public Housing Rental Payment Data,” analyzed the impact on credit scores resulting from reporting of both on-time only payments, as well as full payment reports. The study used rent payment data provided by the Housing Authority of Cook County, the Seattle Housing Authority, and the Louisville Metro Housing Authority to predict the impact on credit scores if that data had been reported to credit agencies. Experian, FICO, LexisNexis Risk Solutions, and TransUnion credit reporting agencies also provided support.

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