Calculation
Of the 5 Cs of Credit, this one indicates the borrower's ability to service their debt.
What is Capacity?
What the FICO score is also known as.
What is beacon score?
The type of trade that is designated by the letter O.
What is an Open trade?
A debt consolidation program involving an involuntary negotiation with creditors.
What is a consumer proposal?
The EQB tool used to check the names of the client and agents.
What is the Watchlist / Deny List?
The debt service ratio that only includes the clients' housing costs.
What is the GDS?
The scoring range for a FICO score.
What is 300-900?
The letter indicator that a trade account is joint.
What is the letter J?
EQB's requirement if there is an outstanding judgement?
What is proof paid in full?
The indicator that confirms the client's AKA is validated by Equifax.
What is XX?
The payment frequency used for all debts in the liabilities screen or insurance calculator.
What is a monthly payment amount?
The score that indicates bankruptcy potential.
What is the BNI score?
The maximum amount of credit that a lender will extend on a revolving trade.
What is a credit limit?
The 2-letter code indicating a collection.
What is CL?
A notice that Equifax has other unmerged files on this individual.
What is Multiple Files Indicator?
The payment used for unsecured lines of credit that are not reporting a minimum payment amount.
What is 3% of the balance?
The scoring range for a BNI score.
What is 1 - 999?
The status of a trade where payments are temporarily postponed.
What is deferred status?
The wording that indicates a registered secured loan may still be active.
What is Security Deposit Unknown?
This warning advises lenders to call the client before extending new credit.
What is the True Name Fraud Activity Warning?
The payment used for student loans deferred less than 1 year.
What is 1% of the balance?
This is what the credit score code R means.
What is a beacon reject?
The code that indicates a line of credit trade is reached over 60 days late.
What is C3?
This type of credit damage falls outside of EQB's risk appetite, even in Alt.
What is a double bankruptcy?
An indicator that the client is on a Work/Study Permit or Visitor Visa.
What is a 9 Social Insurance Number?