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1·The bank's mark-to-model approach to valuing its subprime-related holdings hadbeen based on payments data from the underlying mortgage loans.

银行估量其与次级债相关的股票所用的按模型定价办法是基于第一担保抵押存款的支付数据上的。

2·Then, the people who were buying these securities weren't really checking very carefully to see whether the underlying mortgage could support the loans that were made.

后来购买这些证券的人也没有真正仔细的检查按揭者是否能够还得起他们发放的贷款。

3·The number of hedge funds focusing on mortgage debt ballooned along with the underlying market in 2005-06.

针对按揭贷款的对冲基金，自2005-06年以来在发行市场上的数目不断膨胀。

4·When a Danish mortgage bank grants a mortgage it is obliged to sell an equivalent bond with a maturity and cashflow that matches those of the underlying loan almost perfectly.

当丹麦银行批准一笔抵押贷款时，它必须同时出售等额的同期限的债券，以此来完全匹配该笔借款。

5·The theoretical principles underlying the securitization of housing mortgage and their challenges to the capital structure theories are discussed, and SHM's benefits and risks analyzed.

本文首先讨论了住房抵押贷款证券化的理论基础，及其对资本结构理论的挑战，然后对银行抵押贷款证券化的收益与风险进行了分析。