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/C O R R E C T I O N -- SEARS SAVINGS BANK/

 In NY040, Sears Savings Bank Series 1992-A Rated `AA' By Fitch, moved earlier today, we advised by the company that the following substitutes for the press release issued earlier today.
 SEARS SAVINGS BANK SERIES 1992-A Rated 'AA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Aug. 31 /PRNewswire/ -- Sears Savings Bank's mortgage pass-through certificates, series 1992-A $613.5 million class A is rated 'AA' by Fitch. The rating reflects the credit enhancement provided by a 5.75 percent mortgage pool insurance policy issued by United Guaranty Residential Insurance Co. A $41.8 million reserve fund offers additional support encompassing categorical losses in specified amounts arising from special hazard, borrower fraud and mortgagor bankruptcy. Additionally, the rating reflects Fitch's confidence in the integrity of the legal and financial structure as well as the strength of the master servicer, Sears Mortgage Securities Corp. (SMSC).
 The certificates have been restructured following an original public offering of pass-through certificates, Sears Savings Bank mortgage pass- through certificates, Series 1992-A dated December 12, 1992. The 'AAA' rating on the initial class A and class X certificates and the 'AA' rating on the class M certificates are withdrawn.
 The mortgage pool consists of recent origination, conventional, one- to four-family residential mortgage loans. The interest rates borne by the mortgage loans will be fixed for the first 10 years following origination with a provision for an extension of the term to 30 years, from which point the interest rate will adjust annually. Approximately 74 percent of the pool is secured by properties located primarily in California, with the remaining properties located in the northeast. The pool has a weighted average original loan-to-value ratio of 75 percent; 46 percent of the pool was originated under a limited documentation program; and 38 percent of the pool is comprised of jumbo mortgage loans (balances between $300,001-$600,000).
 All of the mortgage loans were acquired from Sears Mortgage Corp. (SMC), an affiliate of Sears Savings Bank. The loans were originated by or on behalf of SMC in accordance with SMSC's underwriting guidelines, a private residential mortgage conduit, which also acts as master servicer. Elections have been made to treat the trusts as real estate mortgage investment conduits for federal income tax purposes.
 -0- 8/31/93 NY040 C
 /CONTACT: Michele J. Loesch, 212-908-0686, or Jill Guido, 212-908-0682, both of Fitch/


CO: Sears Savings Bank ST: IN: FIN SU: RTG

TM -- NY071 -- 7700 08/31/93 18:23 EDT
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Date:Aug 31, 1993
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