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):
- 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.
- Stated Income / Stated Asset Mortgage (SISA) Definition | Investopedia
Internal Revenue Service - IRS. A United States ... Low / No Documentation Loan . A category of ... No Income / No Asset Mortgage - NINA. A type of ... Liar Loan ...
- What is no income/no asset mortgage (NINA)? definition and meaning
Definition of no income/no asset mortgage (NINA): A mortgage loan requiring limited documentation that carries an above-market interest rate. The borrower is ...
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no limit order. no income/no asset mortgage (NINA) · no par value share. Definition. An order to buy or sell a given quantity of a given security, without any price ...
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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 ...
- 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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