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BEAR STEARNS SECURED INVESTORS 1992-2 RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 BEAR STEARNS SECURED INVESTORS 1992-2 RATED 'AAA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, July 30 /PRNewswire/ -- Bear Stearns Secured Investors Inc.'s $385 million collateralized mortgage obligations, series 1992-2 class 2-A bonds, are rated 'AAA' by Fitch. The rating reflects the integrity of the legal and financial structures as well as the capabilities of State Street Bank and Trust Co., the administrator and trustee of the bonds.
 The bonds will be secured by certain Fannie Mae Guaranteed REMIC Pass-Through Certificates and Freddie Mac Multiclass Mortgage Participation Certificates. Each mortgage certificate is backed by a pool of fixed-rate, first lien, single-family residential mortgage loans with original maturities of up to 30 years. Fitch believes that cash flow from the certificates will be sufficient to cover principal and interest payments on the bonds as well as fees associated with the ongoing administration of the issue.
 Bear Stearns Secured Investors Inc., a wholly-owned limited purpose subsidiary of The Bear Stearns Companies Inc. (NYSE: BSC), sold the bonds to Western Corporate Federal Credit Union in exchange for the certificates. A first perfected security interest opinion was issued with respect to the pledge of the bonds by Bear Stearns Secured Investors Inc. to the trustee for the benefit of the bondholders. For federal income tax purposes, the issuer will elect REMIC status.
 -0- 7/30/92
 /CONTACT: Michele J. Loesch, 212-908-0686, or Mary Sue Lundy, 212-908-0526, both of Fitch/
 (BSC) CO: Bear Stearns Secured Investors Inc. ST: New York IN: FIN SU: RTG


PS -- NY116 -- 5336 07/30/92 17:42 EDT
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Publication:PR Newswire
Date:Jul 30, 1992
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