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Mortgage Broker News | 20 Jun 2016, 08:15 AM Agree 0
BEACON 9 has caused quite a stir among brokers, with many arguing the positives and negatives
  • WTFacebook | 20 Jun 2016, 09:41 AM Agree 0
    So...some brilliant paper pusher didn't think the change in scores COULD change lenders' decision tree (i.e. beacon cutoff) which in turn MAY impact a consumers' life negatively?

    No way! These corporate bigwigs can't be that clueless right?
  • Omer Quenneville | 20 Jun 2016, 09:50 AM Agree 0
    This is not about the consumer, it never has been. It is about protecting big business on the backs of consumers. Mortgages are a shared interest and should never be a part of a credit score, period. As an industry we fail for not being better organized to deal with this crap.
  • anonymous | 20 Jun 2016, 10:00 AM Agree 0
    Well I agree with Omer better industry organization and influence are required. Lets hope the soon to be CMBA can have some positive impact in this regard. It is time to take these organizations to consumer protection agencies for their short comings. And Telcos should not be allowed to report at all as their billing is unreliable and frought with disputes.
  • robg | 20 Jun 2016, 10:28 AM Agree 0
    Let's face it. The credit reporting system is very flawed from start to finish. The reporting partners are plain irresponsible in their reporting activities
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