Question: When a Special Purpose Vehicle Structures its issued securities into tranches. Each tranche a.Will not be paid out until the tranche below it has been

When a Special Purpose Vehicle Structures its issued securities into tranches. Each tranche

a.Will not be paid out until the tranche below it has been fully paid.

b.Has the same priority of claim over the entire mortgage pool.

c.Has a different priority of claim over the entire mortgage pool.

d.Has claims over only a specified part of the mortgage pool.

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