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。

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How many hedge funds illegally foreclosed on homeowners and fraudulently conveyed false documentation to mortgage security trusts?

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Whatever the motivation, though, it may well be a private lawyer that moves Wall Street, and America, past the mortgage security mess.

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The loan must be directly held by Chase (or the other four participating lenders), not packaged into a mortgage security and sold.

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