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FITCH TAKES ACTION ON CITICORP MORTGAGE 1990-12,18, 1991-12 PASS-THRUS -- FITCH FINANCIAL WIRE --

 NEW YORK, Oct. 1 /PRNewswire/ -- Citicorp Mortgage Securities, Inc.'s (CMSI) mortgage pass-through certificates series 1990-12 classes A and M, and series 1991-12 class A are affirmed and removed from FitchAlert negative.
 In addition, Fitch downgrades the ratings on CMSI mortgage pass- through certificates series 1990-12 class B, series 1990-18 class B, and series 1991-12 class B.
 Although delinquencies and foreclosures are higher than initially expected, Fitch believes there is an adequate amount of credit protection remaining to support the 'AAA' and 'AA+' credit requirements. Fitch will continue to actively monitor the pool performance of the above series. The affirmed classes initially totaling approximately $205 million are as follows:
 Series 1990-12 class A (initial $ 91 million), 'AAA'
 Series 1990-12 class M (initial $ 3 million), 'AA+'
 Series 1991-12 class A (initial $111 million), 'AAA'
 The downgrades are prompted by the weakened credit quality of the mortgage pool as evidenced by the high levels of delinquencies, foreclosures, and estimates of current losses. While realized losses are low, Fitch expects losses on these pools to increase as loans move through the foreclosure process. Fitch also believes the credit protection currently available may not be sufficient to support the original ratings. The classes, initially totaling approximately $17.7 million, are downgraded as follows:
 Series 1990-12 class B (initial $6.0 million), from 'A-' to 'BB+'
 Series 1990-18 class B (initial $7.4 million), from 'A-' to 'BBB+'
 Series 1991-12 class B (initial $4.3 million), from 'A+' to 'BBB+'
 Investors may obtain on Bloomberg further information regarding current delinquency, loss, and credit enhancement statistics. To access this information, type 'FTC', then press "GO", and choose Mortgage- Backed Surveillance.
 -0- 10/1/93
 /CONTACT: Betty Tan, 212-908-0688 or Alexander K. Zabik, 212-908-0675, both of Fitch/


CO: Citicorp Mortgage Securities, Inc. ST: New York IN: FIN SU: RTG

WB -- NY089 -- 7942 10/01/93 16:33 EDT
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Date:Oct 1, 1993
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