Which of the following statements is false?

	a.	A mortgage-backed bond (MBB) differs from a CMO or a pass-through because the issuance of MBB results in the removal of mortgages from the balance sheet.
	b.	The Government National Mortgage Association only supports the mortgage loans whose default or credit risk are insured by the Federal Housing Administration, the Veterans Administration, and the Farmers Home Administration.
	c.	With private mortgage insurance, the mortgage borrower pays for an insurance contract, protecting the lending institution if the underlying property is worth less than the loan balance.
	d.	The advantage of a collateralized mortgage obligation (CMO) to an investor over a pass-through is that the CMO increases the predictability of the period over which cash flows will be received.