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CMC SECURITIES CORP. CMO SERIES 1992-D RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Dec. 23 /PRNewswire/ -- CMC Securities Corp.'s $381.9 million Collateralized Mortgage Obligations Series 1992-D are rated AAA' by Fitch. The rating reflects the quality of the underlying collateral, the integrity of the legal and financial structures and the capabilities of Lomas Mortgage USA, Inc. as servicer. In addition, the ratings also reflect adequate credit loss coverage provided by a 7.5 percent General Electric Mortgage Insurance Corp. mortgage pool insurance policy and non-credit loss coverage provided by $3.8 million special hazard insurance policy and $212,359 bankruptcy bond issued by Commerce & Industry Insurance Co.
 Two separate pools of conventional, recently originated, fixed-rate, first lien, one- to four-family residential mortgage loans collateralize the bonds. The category I pool collateralizes the category I bonds and consists of loans with original maturities of 30 years. The category II pool, collateralizes the category II bonds, and consists of loans with original maturities of 15 years. The credit enhancement level reflects the presence of cash-out refinance loans, limited documentation loans, and loans with balances greater than $300,000, which comprise approximately 27 percent, 23 percent, and 50 percent, respectively of the mortgage pool. The contribution of 15-year collateral, combined with 99 percent of the pool being secured by owner-occupied properties, lend additional strength to the pool. The weighted average original loan-to-value ratio of the total pool is 71 percent and 50 percent of the mortgaged properties are located in California.
 Distributions of principal and interest on the category I and category II bonds will be made from payments on the related categories of loans. Classes D-IIIr, D-IIIs, and D-IIIt (category III bonds) will also receive distributions from the category I and category II loans. Class D-IIIr will receive principal distributions on the mortgage loans in category I and category II with pass-through rates of less than 7.55 percent and 7.20 percent, respectively. Class D-IIIs will receive principal distributions on the mortgage loans in category I and category II with pass-through rates of greater than 7.55 percent and 7.20 percent, respectively. The class D-IIIt bonds are interest only bonds and will receive interest distributions based on the class D-IIIs principal balance.
 The bonds will be issued by CMC Securities Corp., a limited purpose subsidiary wholly owned by CMF Mortgage Funding Corp. The mortgage loans will be acquired by CMF Mortgage Funding from CMC Investment Partnership, which has purchased the loans from various sellers. For federal income tax purposes, two real estate mortgage investment conduit elections will be made with respect to the bonds.
 -0- 12/23/92
 /CONTACT: Michele J. Loesch, 212-908-0686, or Alexander K. Zabik, 212-908-0634, both of Fitch/


CO: CMC Securities Corp. ST: IN: SU: RTG

TM -- NY054 -- 9707 12/23/92 16:47 EST
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Date:Dec 23, 1992
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