Ninja as a home-mortgage term

[Cohen, Gerald Leonard]

First, congratulations to Grant Barrett for his lengthy article in today's NY Times (Week in Review, pp. 1, 3).
The NY Times has now partially redeemed itself for printing the nonsense article (I forget the reporter's name) uncritically offering high praise for Daniel Cassidy's book about how the Irish supposedly invented slang.

Now to a specific point. One of the terms Grant cites is: "Ninja loan, n.: No Income, No Job or Assets."
There's a slightly different interpretation of "Ninja" here, passed along to me a few days ago by my source in the financial world: "No Income. No Job. Accepted!"

Gerald Cohen

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