ninja loan


A loan provided to an individual that has no source of income, no job, or assets that would typically qualify them for the money. The individual's credit rating is the only thing that the lender would need to verify before issuing the loan. This type of loan was credited with contributing to the subprime loan crisis and the resulting financial crisis in 2008.
Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Nine-Bond Rule NIO