LIAR LOAN
A loan known as low-documentation or no-documentation mortgages, which is delivered to a borrower without assets and income. "Liar" pertains to a borrower who declared an incorrect level of income; for instance, an unemployed individual who stated that he earns $50,000 a month. Some low-documentation programs like stated income/stated asset (SISA) loans, income and assets are just indicated in the loan application. But on other loan programs such as no income/no asset (NINA) loans, income and assets need not to be indicated in the application form. Hence, the loan programs give opportunities to unconscionable borrowers and lenders.
Also called no docs.
POPULAR TERMS
Senior Bank Loan
Senior Bank Loan is a debt financing obligation. Senior bank loans are issued by the financial institution, typically a bank, to an entity that may ...
Regulatory Asset
Specific costs or revenues that a utility is permitted to defer to its balance sheet, instead of reporting them on the income statement of a compan ...
Multiple Tops
Reversal chart formation that exhibits the deficit of a security to break through to new peaks on several occasions, which tells a strong sell sign ...
Iceberg Order
Huge single order that was split into several smaller lots, usually through an automated program to conceal the true order quantity.
IRS Publication 910
A document that gives information on the free resources the agency offers. Published by the Internal Revenue Services (IRS), it identifies many of ...
POPULAR ARTICLE
SEE FOREX TUTORIAL
Retirement Planning: Maximizing the Power of Compounding
“The early bird catches the worm.” – William Camden
Buying a Home: Obtaining a Homeowners Insurance
You are one step closer to acquiring your dream house, and you want to make sure it has substantial protection against any disaster or occurrence t ...
An Introduction to Forex Currencies
As the biggest market in the world, the foreign exchange market or forex is also one of the most participated in the world. As such, learning about ...
So You Want A Job in Financial Careers: A Guide
In this tutorial, we will explore the different kinds of financial careers, the various basics of the financial industry, what you need to do in or ...
The Types of Stock
Now that you’ve learned the basics of stocks, what it is, and how it works, we can now learn more about them. The next thing you need to know ...
ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 02:30 | PMI Manufacturing | Jul | |
| 03:45 | Markit Final Manufacturing PMI | Jul | |
| 08:00 | Retail Sales | Jun | |
| 08:30 | CPI | Jul | |
| 09:15 | PMI Manufacturing | Jul | |
| 09:30 | Procure PMI Index | Jul | |
| 09:45 | PMI Manufacturing | Jul | |
| 09:50 | PMI Manufacturing | Jul | |
| 09:55 | PMI Manufacturing | Jul |
