1. Reorganized assets; assets reorganization 
   资产重组
2. To redeem a mortgage 
   赎回抵押品
3. This back-to-back structure allows banks to effectively 're-package' their mortgage assets into a more liquid asset and maintain the majority of the cash flow if they hold the MBS in their own investment portfolio. 
   按揭证券的背对背结构，让银行有效地"重新包装"按揭贷款，成为流动性更高的资产；另外，银行如果在投资组合中继续持有按揭证券，更可保留大部分现金流量。
4. a mortgage that is subordinate to a first mortgage. 
   次于第一按揭的抵押。
5. Federal National Mortgage Association. 
   联邦国民抵押协会

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• 1. 抵押资产
  Mortgage receivable 应收押款...mortgage assets 抵押资产...Mortgagee 抵押权人
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