Exchange Currency

no income/no asset mortgage (NINA)

A mortgage loan requiring limited documentation that carries an above-market interest rate. The borrower is not required to state income or assets for the purposes of loan calculations; the property being purchased is the sole criteria for approving the loan. The higher rate assessment is due to a higher risk of default.

Related information about no income/no asset mortgage (NINA):
  1. No Income / No Asset Mortgage (NINA) Definition | Investopedia
    A type of reduced documentation mortgage program in which no income and no assets are disclosed on the loan application, but employment is verified.
     
  2. Stated Income / Stated Asset Mortgage (SISA) Definition | Investopedia
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  5. InvestorWords.com: Terms starting with N
    no change scenario · no cost loan · no deal/no commission clause · no fee mortgage plus · no income loan · no income/no asset mortgage (NINA) · no limit order ...
     
  6. HowStuffWorks "Mortgage-backed Security: Lots More Information"
    U.S. Securities and Exchange Commission.http://www.sec.gov/answers/ mortgagesecurities.htm; "No Income/No Asset mortgage (NINA)." Investopedia.
     
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