scratch and dent loan n. a loan or mortgage that has become a risky debt investment, especially one secured with minimal documentation or made by a borrower who has missed payments. (source: Double-Tongued Dictionary)
toxic waste n.— «Basis Capital had assets worth $1 billion as recently as May, before reporting that its Aust-Rim Fund and Yield Fund lost 9 percent and 14 percent, respectively, in June. The funds ran into trouble by investing in the...