Air Loan

Air loan is a term in finance for a loan that are executed through a fraudulent means, such as inventing a property that does not actually exist. Such an invented property is then mortgaged by the broker defrauding lenders. Borrowers are also not real but they are falsely verified through phones and mailboxes, including their employment, home address, credit history, the title history of the invented property etc. The appraisal value of the invented property is also false. All these misdeeds are committed by the mortgage broker or in collaboration with others involved in such fraudulent loan transactions.