Who came up with securitization?

Who exactly was the brains behind the concept of securitization? Was it a singular individual who saw the potential in transforming illiquid assets into tradable securities, or was it a collaborative effort among multiple minds in the financial world? What inspired this groundbreaking idea, and how did it come to be recognized and implemented on a wide scale? I'm intrigued to learn more about the origins of this influential concept in finance.