NINA loan

名词 n.
中文释义

英文释义

名词 n.
  1. A mortgage loan to a borrower with no verified or stated income or assets.
    — Low and no-documentation mortgages. Known as "NINAa" (no income, no asset verification) in the trade, these were readily available through national lenders like Citicorp Mortgage in the 1980s. Now they are primarily available through alternative brokers. Southwestern Mortgage, Inc. advertises the ultimate "no nothing" NINA loan for applicants who want to avoid paper hassles; No income verification, no tax returns, no pay stubs, no W-2 income tax forms, no established credit history needed, no Social security numbers, no U.S. immigration green card required.
  2. A mortgage loan to a borrower with no income or assets.

词形变化

NINA loans plural

词源

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".
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