=an entity that owns and sells assets to a securitisation SPV. The originator is the party that benefits from the securitisation by being the ultimate recipient of the money raised. The name stems from the fact that most originators originated the securitised assets – ie made the original loans to the borrowers. However, the term will also be used to describe an entity that did not originate the securitised assets but, for example, purchased them from the real originator as long as it is the entity receiving the funds raised by the securitisation. The term is also sometimes used, in the context of a synthetic securitisation, to describe the party who benefits from the protection provided by the synthetic securitisation. However, the more common and better term used to describe such a party is protection buyer.