提高利率使次贷危机更糟糕(1)

1、姓名：_ 班级：_ 学号：_-密-封 -线- 提高利率使次贷危机更糟糕(1)考试时间：120分钟 考试总分：100分题号一二三四五总分分数遵守考场纪律，维护知识尊严，杜绝违纪行为，确保考试结果公正。rising rates to worsen subprime messinterest payments setto grow on $362 billionin mortgages in , 涉及36涌现的房贷无法偿还和丧失抵押赎回权的背后,很多帐户还被描述成调整利率是主要的工作, 这远非整个局面的全貌. 许多使房贷无法偿还的次贷抵押在他们的第一年已经变得更差,或者在不久前它们的利率已经有机会变

2、得更高. 这些次贷抵押一部分在准备计划抛售他们的房子的投机者手里, 一部分在已经承受很高支付压力的借贷人手中, 还有一部分具有欺诈因素.now the real crest of the reset wave ising, and that promises more pain for borrowers, lenders and wall street. already, many subprime lenders, who focused on people with poor credit, have gone bust. big banks and investors who made

3、 subprime loans or bought securities backed by them are reporting billions of dollars in losses.如今利率调整潮的真正高峰已经来临, 这势必给借贷者,出贷方以及华尔街更大的痛苦.很多专注于给信用不足的人群发放次贷的出贷方已经陷入濒临破产的边缘. 许多发放次贷或者从这些出贷方购买投资证券的大银行和投资者正在报告上十亿美金的损失.the reset peak will likely add to political pressure to help borrowers who cant afford to

4、 pay the higher interest rates. the housing slowdown is emerging as an issue in both the presidential and congressional races for 的总统选举和国会选举来说, 住房供给减速将成为一个问题. 布什政府已经逼出贷方放松贷款条件, 以保证人们不会失去他们的房子.banc of america securities, a unit of the big charlotte, n.c., bank, estimates that $85 billion in subprime

5、mortgages are resetting during the current quarter, and the same amount will reset in the first quarter of 第一季度也将有同样数量的次贷利率需要调整, 第二季度将达到峰值的1010亿usd. 这个估计包括借贷打包证券和银行持有的投资组合.larry litton jr., chief executive of litton loan servicing, says resetting of adjustable-rate mortgages, or arms, has recently e

6、merged as a bigger driver of defaults. “the initial wave was largely driven by a higher frequency of fraudulent loansand loose underwriting,” says mr. litton, whosepany services 340,000 loans nationwide. “a much larger percentage of the defaults were seeing right now are the result of arm resets.”li

7、tton loan servicing的ceo larry litton jr. 说, arm利率的调整将是近期房贷无法偿还比率变大的一个比较大的驱动因素.“ 最初的冲击波将很大程度上来自更高频率的贷款欺诈和宽松保险的驱动.” litton 先生说. 他的公司在全国范围内服务340,000宗借贷.“我们现金看到的一个更大的房贷无法偿还比率是arm利率的调整的结果.”more than half of the subprime delinquencies and foreclosures this year involved loans that hadnt yet reset, and thu

8、s were due to factors such as weak underwriting and falling home prices, according to rod dubitsky, an analyst with credit suisse.根据瑞士信贷的分析师rod dubitsky先生的观点,由于诸如较弱的保险和房价下跌等这些因素的影响,半数以上的次贷不良和丧失抵押赎回权的贷款利率没有被调整.the majority of subprime arms due to reset next year are so-called 2-28 loans, which carry

9、a fixed rate for two years, then adjust annually thereafter. in a speech earlier this month, federal reserve governor randall kroszner explained how a typical 2-28 subprime loan issued in early 需要调整的次级arm即是所谓的2-28贷款.这些贷款的头俩年利率是固定的,随后每年将被调整. 根据本月初联邦储备官员randall kroszner先生的一篇演讲, 他解释了一个发行于出的典型2-28贷款是如何运

10、作的.他说,贷款利率最初设为7%,两年后将跳升至9.5%. 对一个典型的借贷者来讲,每月将增加还贷350usd.职场新人如何选择股票贷款条件中英文对照年薪翻倍外资银行新招一万雇员.besides the $362 billion of subprime arms that are scheduled to reset during 被调整, 另外还有15将有135万套房子进入抵押赎回权丧失程序, 将达到144万套, 而仅有705,000套.the projected supply of foreclosed homes is equal to about 45% of existing hom

11、e sales and could add four months to the supply of existing homes, says dale westhoff, a senior managing director at bear stearns. this is a “fundamental shift” in the housing supply, says mr. westhoff, who believes that home prices will drop further as lenders “mark to market” repossessed homes.计划供

12、应的取消抵押赎回权的房子将占现存房子销售量的大约45%, 将增加4个月的现房供应量. bear stearns 的高级主管dale westhoff先生说, 这将是一个房子供应量的“基本变化”. 他相信房价的下跌将远远低于出贷方推向市场的二手房价格.foreclosed homes typically sell at a discount of 前,他手头上就有大约120套银行拥有产权或第三方保管的房子可供销售.federal reserve chairman ben bernanke told congress earlier this month, “a sharp increase in

13、 foreclosed properties for sale couldweaken the already struggling housing market and thus, potentially, the broader economy.”联邦储备委员会主席伯克南先生本月早些时候告诉国会,“ 剧增的取消抵押赎回权的房子销售将.削弱已经困难重重的房地产市场, 潜在地将波及更广泛的经济范围.”the big concern is a vicious cycle in which foreclosures push down home prices, making it more dif

14、ficult for borrowers to refinance and causing more defaults and foreclosures.更大的关注是这种局面将陷入恶性循环, 丧失抵押赎回权的房子将拉低房价, 使更多的借贷者难于重新融资而引起更多的房贷无法偿还和丧失抵押赎回权real-estate agents, who look at prices forparable homes, orps, say the sale of bank-owned properties can have a big impact. “one month theps are showing one price and then a bankes in and sells a property for $30,000 less,” says randal gibson, a real-estate agent in henderson, nev. “all of the sudden,