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Email this7:31 pm
April 6, 2013
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Equifax Canada included the following delinquency rate statistics with my FICO score report:
| FICO Score |
Deliquency Rate |
| Up to 499 | 78% |
| 500 - 549 | 60% |
| 550 - 599 | 39% |
| 600 - 649 | 23% |
| 650 - 699 | 12% |
| 700 - 749 | 5% |
| 750 - 799 | 2% |
| 800+ | 1% |
A delinquency is a loan default, a bankruptcy filing, or reaching 90 days past due, in the next two years.
8:48 pm
October 27, 2013
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I've seen those numbers before and thought those were 'high' numbers in 700+ category. 1 in 100 with a score over 800? I would have thought 1 in 1000 or even less.
8:34 am
April 6, 2013
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Not sure if it is possible to get delinquencies down to 0.1% or lower with the information in a Canadian credit report. I can't see how the information can accurately forecast major life events in the near future, like job loss, a serious health issue, a newly acquired gambling/substance addiction, or a marriage breakdown.
Alternative leaders like Home Trust go beyond the credit scores in their loan underwriting. Even with that, their latest quarterly report shows non-performing loans at 0.34%. However, I think that is 0.34% by loan value and not 0.34% by number of loans.
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