NEW YORK, July 12, 2023 (GLOBE NEWSWIRE) — Ready Capital Corporation (NYSE:RC) (“Ready Capital”), today announced a partnership with Esusu, the leading financial technology company leveraging rent reporting for credit building to empower renters in the Ready Capital ecosystem.
The partnership allows Ready Capital to offer Esusu’s services to their borrowers and respective tenants, creating a positive outcome for renters and property owners. Esusu’s technology reports on-time rent payments to the major credit bureaus (Equifax, Experian and TransUnion), supporting renters as they establish and build their credit scores. Those with positive rental payment history could see immediate impact as a result of the platform’s automatic 24-month look-back feature. In addition, implementing Esusu’s rent reporting platform helps property owners, incentivizing on-time payments, reducing tenant turnover, and lowering eviction rates.
In addition to rent reporting, Ready Capital borrowers and their renters will have access to other financial literacy and credit education courses through the Esusu Renters Marketplace. The partnership would also allow residents the opportunity to access Esusu’s 0% rent relief program, which helps those at risk for missing a rental payment. Esusu will also provide Ready Capital with impact reports to track the outcomes generated in the communities Ready Capital operates in.
Read the full press release: https://ir.readycapital.com/investor-relations/News/news-details/2023/Ready-Capital-Teams-Up-with-Esusu-to-Help-Multifamily-Sponsors-Bolster-Credit-Scores-for-Renters/default.aspx