Nina-loan definitions

(finance) A mortgage loan to a borrower with no verified or stated income or assets.
noun
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0
A mortgage loan to a borrower with no income or assets.
noun
0
0

Origin of nina-loan

From a coding system for classifying loans to be securitized, in which N indicated "no verification", I "income", and A "assets". Other letters used were S "stated by borrower, unverifed" and V "verified".