Liar Loan is a kind of mortgages known as low-documentation or no-documentation mortgages that have been abused to the point where the loans are occasionally referred to as liar loans. On definite low-documentation loan programs, such as stated income/stated asset (SISA) loans, income with assets are simply stated on the loan application. On other loan programs, such as no income/no asset (NINA) loans, no income with assets are given on the loan application form. These loan programs open the door for disreputable behavior by unscrupulous borrowers and lenders.