When evaluating an investment in a mortgage pass-through security,which of the following is NOT one of the characteristics of the underlying mortgage pool that should be considered?

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All three characteristics listed (overcollateralization, geographic distribution, and seasoning) should be considered when evaluating an investment in a mortgage pass-through security. Overcollateralization refers to the amount by which the market value of the underlying assets exceeds the value of the security issued. Geographic distribution is important because it can affect the performance of the mortgages during economic downturns. Seasoning refers to the length of time the mortgagors have been making payments on their loans, and can provide insight into the likelihood of default.

When Evaluating an Investment in a Mortgage Pass-Through Security,which of the Following