The mortgage loan originates from the first mortgage market and is traded in the secondary mortgage market, where MBS comes into being.

一级抵押市场是抵押贷款的发起市场，二级抵押市场是抵押贷款交易和流通的市场，抵押支持证券产生于二级抵押市场。

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Secondary mortgage loan becomes the sword of Damocles which hung on the top of American finance market.

次级抵押贷款变成了高悬美国金融市场头顶的达摩克利斯之剑。

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From the successful experience abroad establishing secondary market of mortgage loan is the proper approach.

根据国外经验，解决这一难题的出路在于建立抵押贷款二级市场。

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Fannie Mae and Freddie Mac controlled about 90% of the secondary mortgage market.

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Lenders thought they could make money on a loan even if the consumer could not pay back that loan, either by banking on rising housing prices or by off-loading the mortgage into the secondary market.

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Increasingly, says Kathleen Engel, at the Cleveland-Marshall College of Law in Ohio, borrowers are looking for redress further along the lending chain, bringing claims against participants in the secondary market for the predatory acts of mortgage brokers and originators.

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