Just prior to the global financial crisis,mortgage loans known as NINJA loans were issued to borrowers.What is a NINJA loan?
A) A loan issued by a Japanese bank, thus avoiding U.S. regulation.
B) A loan document originated by a mortgage banker named Bruce Lee.
C) A loan issued to borrowers with no income, employment, nor assets to speak of.
D) A loan issued with a "martial arts" clause.
Correct Answer:
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