Quick Definition

A NINJA loan is a type of high-risk loan that is extended to a borrower without verifying their income, job, or assets.

Examples

• 1A self-employed individual receives a mortgage without providing tax returns or bank statements.
• 2A recent college graduate is granted a personal loan based solely on their credit score, without needing to show proof of employment.
• 3A borrower obtains a car loan with minimal paperwork, relying only on their statement of having a high-paying job.

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