Which of the following is the most likely reason why asset-backed securities (ABS) are often assumed to have a larger degree of default risk than mortgage-backed securities (MBS)?

Most ABS are backed by non-amortizing securities, which have more risk of default than amortizing securities.

MBS are secured by loans on traditional real property, which has greater relative stability in value

Most ABS are secured by variable-rate loans while most MBSs are secured by fixed-rate loans.