从次贷危机到金融危机美国的住房抵押贷款市场根据借款人不同的信用等级被划分为优级市场、次优级市场和次级市场,在不同的市场上实行不同的贷款条件、申请程序、首付比例和贷款利率。对于发放贷款的机构来说次级按揭贷款属于高风险业务。为了转移经营风险,商业银行、金融公司就将次级按揭贷款卖给投资银行,卖给“两房”。由 From the subprime mortgage crisis to the financial crisis The housing mortgage loan market in the United States is divided into the superior market, the sub-prime market and the sub-market according to the different credit ratings of the borrowers. Different mortgage terms and application procedures are applied in different markets, Down payment ratio and loan interest rates. Subprime mortgages are high-risk businesses for lenders. In order to divert operational risks, commercial banks and financial companies sell subprime mortgages to investment banks and sell them to “two-room” houses. by