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CAPSTEAD SECURITIES IV CMO SERIES 1992-V RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 CAPSTEAD SECURITIES IV CMO SERIES 1992-V RATED 'AAA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, April 30 /PRNewswire/ -- Capstead Securities Corp. IV's $275 million Collateralized Mortgage Obligations Series 1992-V are rated 'AAA' by Fitch.
 The rating reflects the high quality of the underlying collateral, an adequate level of credit support, and the dependability of the administrator, Lomas Mortgage USA, Inc. Fitch also believes that cash flow from the loans will be sufficient to cover principal and interest on the bonds and that the bondholders are legally insulated from bankruptcy concerns. The prudent underwriting standards developed by Capstead Mortgage Corp. (CMC) for acquiring mortgage loans further enhance the pool's credit quality.
 The pool consists of approximately 886 conventional, fixed-rate 30- year mortgage loans primarily secured by first liens on one- to four- family residential properties. The weighted average loan-to-value (LTV) ratio of approximately 72 percent, combined with all of the loans being secured by owner-occupied properties, mitigates the potential for defaults and losses. Additionally, approximately 79 percent of the pool is located in California. Therefore, losses arising from loan defaults should be comparably lower than those of other regions due to the state's economic strength and diversity. These factors are reflected in the low level of credit enhancement.
 Credit enhancement will be provided by a 10 percent mortgage pool insurance policy issued by General Electric Mortgage Insurance Corp. (GEMICO). Additionally, special hazard and bankruptcy losses will be covered by two special hazard policies, each restricted by its maximum coverage amounts, and a bankruptcy bond, issued by Commerce and Industry Insurance Co. Fitch believes the loss coverage provided by all these sources is more than sufficient and supports the 'AAA' rating.
 Classes V-A through V-F are fixed-rate sequential pay bonds. Following an event of default and declaration that the bonds are due and payable, losses in excess of the specified coverages generally will be borne by the bondholders pro rata. An approximately $90,000 fungible reserve fund is available to cover compensating interest payments on prepaid mortgage loans.
 -0- 4/30/92
 /CONTACT: Alexander K. Zabik or Michele J. Loesch of Fitch, 212-908-0500/
 (CMO) CO: Capstead Securities Corp. IV ST: IN: FIN SU: RTG


SM -- NY100 -- 5109 04/30/92 16:09 EDT
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Date:Apr 30, 1992
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