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Answer :
Final answer:
Misrepresenting employment information on a mortgage application is referred to as fraud and can be part of subprime lending practices, which contributed to the subprime mortgage crisis.
Explanation:
When a borrower materially misrepresents their employment information on a loan application to obtain a mortgage, it is often referred to as fraud. In the context of mortgages, this could be part of a broader category of unethical lending practices known as subprime loans, some of which were infamous for their NINJA terms, an acronym that stands for No Income, No Job, or Assets. These practices contributed to the subprime mortgage crisis, where lenders and financial institutions issued high-risk loans without adequate verification, often later packaging these loans to sell as securities.
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