Asset securitization fund
A fund that is set up as a separate set of resources and managed by a management company. A bank that seeks finance (assignor) sells certain assets to the securitization fund, and this fund issues securities backed by those assets. These securities (called securitization bonds) are then placed among investors. When the assets assigned are mortgage loans, the fund that acquires them is a mortgage securitization fund, and the securities that it issues are known as mortgage securitization bonds.