The bank's mark-to-model approach to valuing its subprime-related holdings hadbeen based on payments data from the underlying mortgage loans.

银行估量其与次级债相关的股票所用的按模型定价办法是基于第一担保抵押存款的支付数据上的。

youdao

Then, the people who were buying these securities weren't really checking very carefully to see whether the underlying mortgage could support the loans that were made.

后来购买这些证券的人也没有真正仔细的检查按揭者是否能够还得起他们发放的贷款。

youdao

The number of hedge funds focusing on mortgage debt ballooned along with the underlying market in 2005-06.

针对按揭贷款的对冲基金，自2005-06年以来在发行市场上的数目不断膨胀。

youdao

When the underlying mortgage holders were unable to repay their debts, the investments plummeted in value, with disastrous consequences for banks all over the world.

BBC: Bank of America sign

Mortgage securities, like other packaged products, slice and dice underlying mortgage paper into different segments, or tranches, that investors buy based on what risk they want to assume.

FORBES: Bear Scare

Now that the rating agencies are downgrading CDOs as well as the underlying mortgage-backed bonds that they reference, it seems all but certain that banks and others will be forced into another round of markdowns.

ECONOMIST: If so, who is the Titanic?