Why is there no outrage on new loans under Fannie Mae, with the old Ninja loans?

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Ninja loans no income Approved No work, put down a 1,000 and you can also taxpayers must pay for your home, and if you pay for your work, no problem of taxpayers for your mortgage for 6 months to lose c is if you start a new job.

2 Comments
  1. Reply
    Observer
    April 30, 2011 at 12:37 am

    I’M OUTRAGED!

    Same sh!t different day!

  2. Reply
    Chibi - thulhu
    April 30, 2011 at 1:08 am

    No Income No Asset (NINA), “No Income No Job or Asset” (NINJA) or simply Nina Loan is a term used in the United States mortgage industry to describe one of many documentation types which lenders may allow when underwriting a mortgage.

    NINA programs are reserved for the most credit-worthy of borrowers. This means, among other criteria, a satisfactory mortgage history paid As Agreed (no mortgage lates in the last 24 months), a minimum credit score of 660 and a Loan to Value ratio of no more than 75%. For higher loan amounts the minimum credit scores start above 700 and LTV ratios cap out at about 60%.

    so yeah… just about anyone can get one right?

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