Urges Congress to pass legislation requiring mortgage lenders to consider rent payments when determining people's credit worthiness.

This New Jersey Assembly Resolution (AR 77) urges Congress to pass federal legislation requiring mortgage lenders to count rent payments as part of credit assessments when evaluating homebuyers. It directly aims to help lower-income renters - particularly people of color with limited credit history - who consistently pay rent but are currently excluded from mortgage approvals due to lack of traditional credit. The resolution cites Fannie Mae's data showing 17% of previously disqualified applicants (many from marginalized groups) could qualify for mortgages if rent history were considered. It emphasizes that federal law currently blocks states from mandating this practice, making Congressional action necessary to expand homeownership opportunities.