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 ?

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.

Don't bank on it; NINJA days are numbered for Commercial borrowers

The most extreme examples of this were the NINJA loans - to people with No Income, No Job or Assets - in the United States.

An end to easy cash will bring sanity to property market; CREDIT CRUNCH: THE NOOSE TIGHTENS

But we are all paying a price for these so-called Ninja loans - to people with No Income, No Job or Assets.

GREED IS BAD; WORLD MONEY MARKETS IN CRISIS

With so many Ninja loans turning sour, US house prices have taken a tumble leaving lenders unable to get their money back.