Underwriting

The Detroit-based lender said the program will "accelerate loan purchases" and "eliminate significant costs" for its partners

The introduction of utility, cable and telco payment information follows noticeable growth in the past year toward the inclusion of rental history in underwriting.

Loan officers say that the platform discourages them from originating loans.

The letter, sent under the banner of the Black Homeownership Coalition, is the second in two months sent by the trade group in its ongoing campaign.

And rising rates caused the government-sponsored enterprise to cut its forecast for this year.

Moon Mortgage plans to start originating owner-occupied mortgages that are partially collateralized by cryptocurrency in three states in December.

The Federal Housing Administration also announced it would incorporate similar borrower history into its underwriting beginning at the end of October.

Both companies have rolled out tools that allow for communications to take place entirely in Spanish if the customer desires.

However, a lower share of applications were rejected for Blacks, Hispanics and Asians, while whites had the smallest percentage change, a Consumer Financial Protection Bureau report said.

While several single-family indicators rose compared with July, homebuilder authorizations for new construction continued to lag.