There is even a fledgling market in bonds explicitly backed by delinquent mortgages.

甚至公开以拖欠的按揭房屋支持的债券市场已经初具雏形。

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Esoteric securities backed by these mortgages were grossly mis-valued by the computer models of big Banks and credit rating agencies.

大银行的电脑模式和信用评级机构极其严重地误估了这些靠按揭支撑的非公开证券。

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Critics of the status quo say the 'issuer pay' model led to inflated ratings in the housing boom, particularly of securities backed by mortgages.

对现状持批评态度的人士说，在楼市泡沫期间，这种发债公司付费的模式导致评级注水，在抵押贷款支持证券的评级问题上尤其严重。

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There's maybe about three trillion dollars worth of stuff backed by mortgages out there Well, as you've seen, these have produced crisis of confidence and I don't think we've heard the last of it.

现在大概有价值三万亿美元的有抵押证券,在市场上流通,就像你所看到的那样，这些证券已经导致了,市场信心的丧失，而且我个人认为这还完全没有结束。

耶鲁公开课 - 金融市场课程节选

These mortgages were given out to people that couldn't afford them and today you have what you call subprime mortgages--subprime paper They issued against this paper stuff called mortgage-backed security. They securitized them and these things are all floating around now.

我们发放这些抵押贷款给那些买不起房子的人,所以现在你们看到了一种你们叫做,次级抵押贷款的金融工具--次贷票据,他们把这种票据叫做,有抵押证券，他们把有抵押证券证券化,这些证券现在在市场上被多次交易，广为流通。

耶鲁公开课 - 金融市场课程节选

The collateral behind them ranges from safe, government-backed mortgages to risky subprime debt.

FORBES: Yes, there is a market for toxic mortgages.

The fund collaborated with the Russian government and Fannie Mae to structure a law establishing private-property underpinnings for asset-backed mortgages.

FORBES: Porcelain And Portals

Branch manager Rodney Lewis says two factors are bringing home buyers back to the market: historically low interest rates, around 6 percent for a 30-year loan, and higher limits on government-backed mortgages, which makes banks more likely to lend.

NPR: Existing Home Sales Are Up Slightly