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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.


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Just look at America's so-called Ninja loans - to people with No Income, No Job or Assets - which sparked the current crisis.
” The Wall Street Journal defines a ninja loan as one that “required no income, no job, and no assets.
The transaction, which was handled by Mizuho Corporate Bank, Ltd, is the largest Ninja Loan so far to a new international borrower in Japan in terms of both volume and number of banks that participated.
 
 
 
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