But when you start the securitization. Original model became a model. "Lending to spread out," The risk of the loan is forwarded (spread) to the investors.
But when you start to convert assets into securities. The original model had become a model "drop off to the rescue," the risk of the loan is forwarded (distributed) to investors.
But when you start to use the securitization model. So it has become a model "lending to spread out." The risk of loan is sent to (spread) to the investor relations