NINJA loan


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NINJA loan

Acronym for No Income No Job or Assets. Loans made without any supporting documentation for income, employment or assets. Also see NINA loan, No docs.
References in periodicals archive ?
This is the first Ninja Loan for a Gulf Cooperation Council Foreign Investment.
Ninja Loans are for non-Japanese companies primarily consisting of investors in Japan.
The loan was executed as a Ninja Loan, in which several Japanese financial institutions provide financing for an overseas borrower, and the arrangement was the largest Ninja Loan to date in terms of both volume and the number of participating banks.
Commercial lenders, who sat out the lending frenzy of NINJA loans as Walker did, still have money for projects like apartments, office buildings, retail and industrial, as long as the projects deliver cash flow that will service the debt.
The most extreme examples of this were the NINJA loans - to people with No Income, No Job or Assets - in the United States.
But we are all paying a price for these so-called Ninja loans - to people with No Income, No Job or Assets.
With so many Ninja loans turning sour, US house prices have taken a tumble leaving lenders unable to get their money back.
Richard has fallen foul of the turmoil in the mortgage market which started with NINJA loans - to people with No Income, No Job or Assets - in the US.
6bn of NINJA loans - mortgages for people with No Income, No Job or Assets - and pounds 400m of bad business, mainly in New York.