In the Fixed Income topic test, there is the following question:
In a securitization, the seller of the pool of securitized assets is the:
-
Trustee
-
SPE
3)Depositor
According to the answer sheet, the correct answer is the depositor. But is this really correct? Doesn’t the depositor just sell the COLLATERAL to the SPE, and the SPE sells/issues the securitized assets to investors? Even in the book example, (Reading 54, Part 3.1 and 3.2) it says that the SPE issues the ABS and sells it to the investors.