These two dudes Wemimo Abbey and his co-founder are doing an incredible job.
Esusu is working to fix a fundamental injustice in the credit system, and helping both renters and real estate owners and operators along the way.
Since its founding in 2018, the company’s rent reporting program has helped millions of renters create or improve their credit and has been so successful that Freddie Mac, a Government Sponsored Enterprise (GSE), worked with Esusu to bring the service to its borrowers around the nation. The Real Deal sat down with Samir Goel, co-founder and co-CEO at Esusu, Corey Aber, vice president of Multifamily Mission, Policy & Strategy at Freddie Mac, and Jonathan F.P. Rose, founder of Jonathan Rose Companies, to learn about this program’s far-reaching impacts on renters’ lives and real estate owners and operators’ bottom lines.
What It Means to Be Credit Invisible
Goel founded Esusu with Wemimo Abbey to solve one of the major financial problems of our time.
“45 million people in this country are credit invisible,” explains Goel, “and there’s close to 100 million more that are what you would consider to be credit thin or have poor credit.” Oftentimes, having a low or non-existent credit score is not the fault of the consumer; as Goel puts it, “Credit treats you as though you’re guilty until proven innocent.” Being credit invisible or credit thin prevents one from engaging in basic economic activities, from getting approved to rent an apartment to qualifying for a car loan, and even to securing certain jobs.
As Goel says, “These are things that a lot of people in this country take for granted.”
GUILTY UNTIL PROVEN INNOCENT: Esusu, Freddie Mac Multifamily, and Jonathan Rose Companies have partnered to challenge the status quo in the credit system. Instead of a presumption of guilt, we give credit where credit is due.
Learn more here ---> https://lnkd.in/gpJNdp8a
cc: Samir Goel | Esusu
National Director of Seniors Housing & Care at BWE
1moThanks for the coverage Commercial Observer! Much appreciated