A ________ loan is that which deliberately misstates the qualifications of a borrower to push a loan through the approval process.

A) NINJA
B) liar
C) subprime
D) home equity

NINJA Loan

A loan that has been negotiated by a borrower with “no income, no job, and no assets.”

Qualifications

The skills, knowledge, and experiences that make an individual suitable for a specific job or activity.

Approval Process

A systematic procedure followed by organizations to validate and authorize proposals, projects, or transactions before implementation.