Question: What is the main difference between a CMO(REMIC) and a pass-through security? (Note: There may be more than 1 correct answer) A CMO (REMIC) is

What is the main difference between a CMO(REMIC) and a pass-through security?

(Note: There may be more than 1 correct answer)

A CMO (REMIC) is a derivative mortgage product and a pass-through security isn't.
A CMO/REMIC has less risk than a pass-through
A CMO (REMIC) has more risk than a pass-through
CMOs (REMICs) can have more than one class of security and a pass-through won't
A CMO/REMIC will have a longer term than a pass-through security will

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