As of April 1st, mortgages will be reported on credit reports. Previously they were not reported. This will be detrimental to anyone that has had any recent delinquencies on their mortgage as this information will now be readily available to new, potential mortgage lenders.

There are other changes coming to the credit bureau as well. Along with existing beacon scores (credit score), the credit report will also show the following items:

-BNI (Bankruptcy Navigator Index) which predicts the likelihood of the consumer filing a bankruptcy within the next 24 months

-CRP(Consumer Risk Predictor) which predicts the likelihood of a serious delinquency in the next 24 months

-ERS (Equifax Risk Score) which predicts the likelihood of a serious delinquency in the next 12 months

It's always a good idea to check your credit report annually to ensure accuracy. You can pull your own credit report at www.eqiuifax.ca