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欧洲住房抵押贷款支持证券的设计者所面临的挑战是,既要设计出一套框架以提供一个有吸引力的投资工具,又要能够控制担保性的按揭贷款所产生的现金流的不确定性。一只住房抵押贷款支持证券通常被设计成具有不同期限和不同风险特征的几种债
The challenge for designers of European mortgage-backed securities is to design a framework that provides an attractive investment vehicle while also controlling the uncertainty of the cash flows generated by a secured mortgage loan . A home mortgage backed securities is usually designed with several bonds of different maturities and different risk characteristics