Which of the following statements is false?

	a.	Alt-A mortgages are characterized by borrowers with more extensive documentation, higher credit scores, lower loan-to-value ratios, and fewer investment propertieis than subprime mortgage borrowers.
	b.	Mortgage payments are higher on a 15-year fixed rate mortgage than on a 30-year fixed rate mortgage, and less interest is paid on a 15-year mortgage than on a 30-year mortgage, ceteris paribus.
	c.	The process of packaging and/or selling mortgages which are then used to back publicly traded debt securities is called securitization.
	d.	With a fixed rate mortgage the borrower bears the interest rate risk and with an adjustable rate mortgage the lender bears the interest rate risk.