这道题A和B好像都是，如何区别呢？

问题如下：

In a securitization, the firm that is securitizing financial assets is best described as the:

选项：

seller.

SPE.

servicer.

解释：

A is correct.

In a securitization, the firm that is securitizing financial assets is described as the seller because it sells the assets to the SPE. ABS are issued by a special purpose entity (SPE). The servicer is the entity dealing with collections on the securitized assets.

考点：资产证券化

解析：银行是资产证券化的发起人，originator或seller。银行将资产卖给SPE，以SPE作为法律实体发行结构化债券。loan汇集成资产池，以贷款为抵押品，重新打包分层，卖给投资者。borrower还本付息的现金流就直接来自于mortgage本身。证券化一般是将流动性较差的资产打包发行成了可交易的证券。想要把资产证券化的firm就是指资产证券化的发起人，即银行，故选项A正确。