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Which of the following regarding key credit enhancement features of defeasance as prepayment protection is least accurate? A. The duration of the defeasance funds reduces the credit risk of the commercial mortgage-backed securities (CMBS). B. No distributions are made when the defeasance takes place, so there is no issue concerning how prepayment penalties will be disbursed. C. The cash flow from the defeasance funds is substituted for payments made by the borrower. |