Empowers Over 100 Million Renters in America to Improve Credit

New Rent Verification Service Helps Boost Credit Amidst Thriving Rental Market

Sep 26, 2011, 05:03 ET from

LOS ANGELES, Sept. 26, 2011 /PRNewswire/ --, a new online service that verifies individual residential rental payments and empowers over 100 million American renters to show their true credit worthiness launched today. The rent verification service securely and seamlessly verifies rental payment activity for individuals or groups of renters, and transmits the data for inclusion onto a consumer's credit report. Reporting of a consumer's rental data can help improve the credit profiles for aspiring homeowners and renters looking for financial credibility.

According to the U.S. Census Bureau, there are more than 100 million renters in America. This number is rapidly increasing in the wake of the nation's housing-market collapse and inability for most American consumers to afford a home. In fact, 2010 U.S. Census data shows that 3 million homeowners have become renters in the last several years and by 2015, another 3 million will join the ranks.  

The surging rental market, national credit contraction and Experian's announcement earlier this year to accept rent payment data as a traditional credit item on their national credit reports has set the stage for the launch of The company is the first to streamline the verification process of rental payment activity directly from the landlords and deliver this data to the credit bureau for credit report inclusion. serves as a credit verification platform for those renters looking to show their true credit worthiness.

"Having been where many of our customers are now, I know first-hand the economic circumstances that can result in a poor credit score," says Crispin Luna IV, founder and president, " allows essentially every renter in the U.S. to take one step closer to homeownership and leverage their rental payments towards a better credit profile." reports to PRBC (Payment Reporting Builds Credit), an alternative credit reporting agency that is the only credit bureau that routinely scores the rental data with a FICO Expansion score. has automated the process of verifying and reporting the PRBC non-traditional rent data so that it can be combined into a 4 in 1 credit report with data from Experian, TransUnion and Equifax. This 4 in 1 credit report is accepted straight into the automated underwriting systems of national lenders. is the only company to completely automate the consumer data verification and reporting process from the consumer to the lender for reporting rent payment data. 

"The significance of the shift from debt-based credit and the impact it will have on the American credit market is huge. There is no doubt that in the near future Equifax and TransUnion will soon announce the inclusion of rent on their traditional databases. is a complimentary service to the national credit bureaus, landlords and renters. We embrace a true win-win-win for everyone involved," said Luna.

Rigid credit requirements for aspiring homeowners have exacerbated credit score challenges beyond the recent foreclosure crisis. Potential homeowners are required to have a credit score between 720 and 740 to qualify for the lowest mortgage rate and down payments. Demand of high credit scores combined with tightened credit standards by the banking industry has made homeownership an often unattainable goal for most renters. According to real estate industry's Zillow, one third of the American population has a score below 620, making a mortgage completely out of reach.

The service allows renters to take a proactive step to improve their lives by having their rent payments count.

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About is a rent verification service that addresses the credit problem affecting the millions of renters in the United States. The team developed an automated way to collect rent data, break it down in a uniformed format, and streamline the process to be folded into a factual credit report. The service receives rental verification activity directly from landlords and property managers and securely delivers it to the credit bureau to allow renters an opportunity to improve their credit simply by paying rent each month.