Equifax, one of two credit reporting agencies in Canada, creates the formulas that calculate your credit score.  They create new formulas to adjust to changing consumer behaviour.  The mortgage broker industry previously used a formula called Beacon 4.0.  As of June 1st, 2016, we are now using Beacon 9.0.  This new formula recognizes that a… Continue reading Your Credit Score Got An Upgrade in 2016 – How It Impacts You