Which of the following statements about REMIC securities is false?
A) REMIC securities provide tax-free income to investors.
B) REMIC securities provide level cash flows similar to CMOs.
C) REMIC securities may be backed by pass-through securities issued by FHLMC or FNMA.
D) The Tax Reform Act of 1986 encouraged the use of REMICs.
Correct Answer:
Verified
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