. The worst of them earn the nickname .ninja loans,. In the mortgage industry, they are called .liar loans. short for .no income, no job, and (no) assets.. mortgages approved without requiring proof of the borrower's income or assets. The nation's struggling housing market, already awash in subprime foreclosures, is now getting hit with a second wave of losses as homeowners with liar ... Once you obtain all these information, ask for the same information from other lending companies. In this way, you can start comparing the costs of each loan and decide which one has the best mortgage rate.
