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scratch and dent loan

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)

jingle mail

jingle mail n. building or house keys sent by mail and unexpectedly received by a mortgage-issuer from someone who can no longer make mortgage payments and chooses to relinquish control of a property. (source: Double-Tongued Dictionary)

have hair

have hair  v. phr.— «Mr. Miklos believes that “oftentimes some of the loans that are overlooked have hair.”» —“Small Balance Market Heats Up” National Mortgage News Feb. 20, 2006. (source: Double-Tongued...

liar’s loan

liar’s loan  n.— «Over half of subprime mortgages are stated-income loans, loans which the industry often refers to as “liars loans.” The question is, who’s lying? According to a survey of over 2,000 mortgage brokers, 43% of...

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