布什计划冻结美国次贷利率
（发布时间： 2007-12-11 8:36:00 来自：）
BUSH PLAN TO FREEZE SUBPRIME HOME RATES
By Ben White in New York
Friday, December 07, 2007
US President George W. Bush yesterday formally unveiled a plan to freeze interest rates on some subprime home loans for five years, setting up potential showdowns with mortgage security investors who could see their returns decline and Democrats who say the plan does not go far enough to help troubled homeowners.
The plan, negotiated over a series of meetings with industry executives, is intended to forestall a wave of foreclosures over the next two years as nearly $400bn worth of home loans made to risky subprime borrowers reset at higher interest rates.
The introduction of the plan came as the Mortgage Bankers Association said US home foreclosures reached a record high in the third quarter, with 1.7 per cent of outstanding loans in the foreclosure process.
Under the plan, mortgage servicers would agree to the five-year rate freeze voluntarily. The plan would apply to subprime adjustable mortgage loans taken out between January 2005 and July 2007, with rates to rise between January of 2008 and July of 2010.
It would apply only to borrowers who had less than 3 per cent equity in their homes and were either current on their payments or no more than 60 days behind. The rate freeze would not include borrowers able to handle higher payments or those unable to make payments even under their current lower rate.
A Barclays analysis suggested that only 12 per cent of subprime borrowers, or 240,000 homeowners, would he helped by the freeze. Mark Zandi, chief economist for Moody's Economy.com, also put the number at about 250,000.
The plan would also seek to switch as many borrowers as possible with subprime adjustable rate mortgages into more sustainable loans.
Mr Bush's proposal would identify borrowers eligible for refinancing and fast-track them into new loans offered by the Federal Housing Association and private lenders.
英国《金融时报》本•怀特(Ben White)纽约报道
2007年12月7日 星期五
美国总统布什(George W. Bush)昨日正式公布一项计划，将把某些次级住房贷款利率冻结五年。此举可能引发抵押贷款证券投资者和民主党人之间最终摊牌。抵押贷款证券投资者会发现自己的收益回报将下降，而民主党人表示，这项计划还不足以帮助那些陷入困境的住房业主。
这项计划是在跟业界高管进行一系列磋商之后议定的，以防止未来两年因贷款利率调高而导致大批借款人无力偿债、丧失抵押品赎回权。据统计，贷给风险较大的次级借款人的住房贷款有将近4000亿美元。
这项计划出台之际，美国抵押贷款银行协会(Mortgage Bankers Association)表示，美国住房抵押赎回权丧失的情况在第三季度达到创纪录高点，在所有未偿贷款中，有1.7%的贷款进入了取消赎回权程序。
根据布什总统公布的这项计划，抵押贷款服务商将同意自愿将利率冻结5年。这项计划将适用于2005年1月到2007年7月之间发放的浮动利率次级抵押贷款，在2008年1月到2010年7月之间，这些贷款的利率可能会提高。
这项计划仅适用于那些在其住房中所持权益不足3%的借款人，而且目前正在偿付贷款，或者偿付能力不超过60天。利率冻结计划不包括有能力应对较高还款额的借款人，也不包括那些在目前利率较低的情况下也仍然偿付不起的借款人。
巴克莱银行(Barclays)一位分析师指出，只有12%的次级借款人（即24万名住房业主）会因利率冻结得到帮助。Moody's Economy.com首席经济学家马克•赞迪(Mark Zandi)也预计这个数字大概在25万人左右。
这项计划还寻求把尽可能多的浮动利率次级抵押贷款借款人转向更能承受的贷款。
布什总统的计划将会确认符合再融资资格的借款人，并尽快为他们办理联邦住房协会(Federal Housing Association)和私营银行提供的新贷款。
By Ben White in New York
Friday, December 07, 2007
US President George W. Bush yesterday formally unveiled a plan to freeze interest rates on some subprime home loans for five years, setting up potential showdowns with mortgage security investors who could see their returns decline and Democrats who say the plan does not go far enough to help troubled homeowners.
The plan, negotiated over a series of meetings with industry executives, is intended to forestall a wave of foreclosures over the next two years as nearly $400bn worth of home loans made to risky subprime borrowers reset at higher interest rates.
The introduction of the plan came as the Mortgage Bankers Association said US home foreclosures reached a record high in the third quarter, with 1.7 per cent of outstanding loans in the foreclosure process.
Under the plan, mortgage servicers would agree to the five-year rate freeze voluntarily. The plan would apply to subprime adjustable mortgage loans taken out between January 2005 and July 2007, with rates to rise between January of 2008 and July of 2010.
It would apply only to borrowers who had less than 3 per cent equity in their homes and were either current on their payments or no more than 60 days behind. The rate freeze would not include borrowers able to handle higher payments or those unable to make payments even under their current lower rate.
A Barclays analysis suggested that only 12 per cent of subprime borrowers, or 240,000 homeowners, would he helped by the freeze. Mark Zandi, chief economist for Moody's Economy.com, also put the number at about 250,000.
The plan would also seek to switch as many borrowers as possible with subprime adjustable rate mortgages into more sustainable loans.
Mr Bush's proposal would identify borrowers eligible for refinancing and fast-track them into new loans offered by the Federal Housing Association and private lenders.
英国《金融时报》本•怀特(Ben White)纽约报道
2007年12月7日 星期五
美国总统布什(George W. Bush)昨日正式公布一项计划，将把某些次级住房贷款利率冻结五年。此举可能引发抵押贷款证券投资者和民主党人之间最终摊牌。抵押贷款证券投资者会发现自己的收益回报将下降，而民主党人表示，这项计划还不足以帮助那些陷入困境的住房业主。
这项计划是在跟业界高管进行一系列磋商之后议定的，以防止未来两年因贷款利率调高而导致大批借款人无力偿债、丧失抵押品赎回权。据统计，贷给风险较大的次级借款人的住房贷款有将近4000亿美元。
这项计划出台之际，美国抵押贷款银行协会(Mortgage Bankers Association)表示，美国住房抵押赎回权丧失的情况在第三季度达到创纪录高点，在所有未偿贷款中，有1.7%的贷款进入了取消赎回权程序。
根据布什总统公布的这项计划，抵押贷款服务商将同意自愿将利率冻结5年。这项计划将适用于2005年1月到2007年7月之间发放的浮动利率次级抵押贷款，在2008年1月到2010年7月之间，这些贷款的利率可能会提高。
这项计划仅适用于那些在其住房中所持权益不足3%的借款人，而且目前正在偿付贷款，或者偿付能力不超过60天。利率冻结计划不包括有能力应对较高还款额的借款人，也不包括那些在目前利率较低的情况下也仍然偿付不起的借款人。
巴克莱银行(Barclays)一位分析师指出，只有12%的次级借款人（即24万名住房业主）会因利率冻结得到帮助。Moody's Economy.com首席经济学家马克•赞迪(Mark Zandi)也预计这个数字大概在25万人左右。
这项计划还寻求把尽可能多的浮动利率次级抵押贷款借款人转向更能承受的贷款。
布什总统的计划将会确认符合再融资资格的借款人，并尽快为他们办理联邦住房协会(Federal Housing Association)和私营银行提供的新贷款。
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