Some 10-20% of the exchange's turnover has to be auctioned as "second-lien", meaning that a bank stands ahead of the investor, in the event that the buyer of the goods goes bust.
交易所的10 - 20%的销售额作为“第二留置权”被拍卖，意味着银行作为带头投资者，很可能失去顾客。
Even so, the plan appears to treat second-lienholders better than investors in the main mortgage, because the formerare not required to cut principal when first-lien balances drop.
即便如此，这向计划显现的对抵押贷款持有者的待遇要好于拥有主要按揭贷款的投资者，因为当优先抵押差额减少时，前者不需要削减本金。
Of its $95 billion loan book, more than a third is home-equity lines of credit and second-lien mortgages, both much riskier than the typical home loan.
在它950亿美元的贷款账目上，超过1/3是房屋净值信用额度和二胎房贷，二者都比常见的住房贷款风险高很多。
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