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1、本科毕业论文（设计）外文翻译外文出处MORTGAGEBANKING,OCTOBER2010外文作者JoeMontiAndFrankTerzuoli原文：THEREALproblems：THEHOUSINGCRISIS62-68Realestatevalues,whichbubbledupatanunsustainableannualclipof20percentinsomemarketsintheyearsleadinguptothemortgagecrisis,maynothavehitbotto
2、myet,atleastinmanykeymarkets.Homepriceswereup3.8percentinApril2010fromayearearlier,accordingtotheStandard&Poor's(S&P)/Case-ShillerHomePriceIndexes,buteightofthetop20marketswerestillneartheirbottomsandnotrising,includingtheNewYorkCitymetro,whichcontinue
3、stodrop.Sothemortgagecrisiscouldreassertitselfandbeeverybitasbadasadvertised—orworse.Considerthefollowing:Housingsupplyanddemandarenotapproachingequilibrium.Theso-calledshadowinventory—whichincludesbothlenderrealestate-owned(RFO)propertythathasnotyetcl
4、earedthemarketaswellashomesthatotherwisemobilesellersarereluctanttolistinadownmarket—isconservativelyestimatedtobe3percentofallhouseholds(accordingtoCoreLogic,SantaAna,California),andcouldbeashighas13percent(accordingtoanalystsatAmherstSecuritiesGroupL
5、P,Austin,Texas).Thisiscreatingdownwardpressureonpricesinmanymarkets.AMay2010MorganStanleyreportestimatestheinventorywilltake47monthstoclear.AccordingtotheStateForeclosurePreventionWorkingGroup(SFPWG),primeloans—asopposedtosubprimeloansthatcatalyzedthec
6、risis—areincreasinglydrivingtherisingdelinquencyrates.Asthenumberofloansintheprocessofforeclosureincreasedby52percentbetweenOctober2008andOctober2009,thenumberofprimeloansinforeclosuremorethandoubledineachofthepasttwoyears.Primeloansnowaccountfornearly
7、halfofallloansinforeclosure.Principalforgiveness,theultimateloan-modificationstrategy,remainsanathema10tolenderseventhoughmanyhavealreadywrittendownasizableportionoftheirportfolios.BankofAmerica,Charlotte,NorthCarolina,wasthefirstmajorbanktoannounce,in
8、thefirstquarterof2010,thatitwillintroduceaprogramtoforgiveprincipal,inincrementalamountsoverthefirstthreeyears,providedtheloaniskeptcurrent.ButBofA'sprogramwillhavelimitedreach;itiscurrentlyavailableonlytoborrowersqualifiedfortheHomeAff
