Asked by Pablo Rangel on Jul 15, 2024
Verified
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.
- Understand the ethical and legal considerations in loan approvals and the impact of misrepresentations.
Verified Answer
Learning Objectives
- Understand the ethical and legal considerations in loan approvals and the impact of misrepresentations.
Related questions
Should Lending Laws Be Changed to Require Lenders to Report ...
A(n)________ Misrepresentation Is Made with Knowledge of Falsity and Intent ...
Joe Loser Enters into an Investment Scheme with Some Reputed ...
Which Tort Involves Misrepresentation or Cheating by Means of Some ...
Give Two Reasons Why the Differences Between Fraud and Misrepresentation ...