A loan, or portfolio of loans which are pooled and re-structured, to serve as collateral for issuance of securities. The process of creating such loans is called securitization (that is undertaken by a securitization trust: the special purpose entity (SPE, SPV) that holds the securitized loan pool as an asset).

A securitized loan can be based on a single asset or a single borrower or a portfolio of assets/ borrowers.