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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Some of Meridian's biggest creditors were hedge funds which held a lot of first- and second-lien debt and in effect had a blocking vote in both classes.

Meridian[font=宋体]最大的债权人有一些是对冲基金，持有大量的一、二级抵押债务并能够代表这两个级别的债权人进行投票。

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Further, the second lien debt has started to trade based on recovery value rather than yield, in our view.

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Unitranche, second lien and mezzanine loans initially will be made through Tamarix.

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The Treasury is working on a plan to let primary mortgage servicers compensate second lien holders, but those details have not been worked out.

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