美国是世界上住宅抵押信贷市场最发达的国家。８０年代初，其住宅抵押债务就开始超过政府债券，一跃而成为美国债务经济的重要构成部分。美国的住宅抵押之所以能得到如此蓬勃的发展，一个重要的原因是，美国的金融机构在长期的实践中创造并运用了一系列先进的规避信贷风险的手 The United States is the world’s most developed residential mortgage credit market. In the early 1980s, its residential mortgage debt began to overtake government bonds and jumped to become an important part of the U.S. debt economy. One of the important reasons why the United States residential mortgages have enjoyed such a booming development is that the U.S. financial institutions have in the long run created and applied a series of advanced hands to circumvent credit risk