English Explanatory Dictionary

NINA loan

English dictionary entry

Meanings

noun
  1. A mortgage loan to a borrower with no verified or stated income or assets.
  2. A mortgage loan to a borrower with no income or assets.

Word forms

NINA loan NINA loans

Etymology

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".

Related words

NINJA loan liar loan
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