Which of the following is NOT true about securitization?

A)Mortgage-backed security is a type of securitization collateralized by a single or collection of mortgages traded on the secondary market.

B)In securitization, banks sell individual assets such as a mortgage, loan, or lease to third party investors as security.

c)Banks and other financial institutions use securitization to lower their exposure to risk associated with the default of individual assets.

d)Institutions such as investment banks buy mortgages and package them into mortgage-backed securities which can be sold to individual or institutional investors.