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GE CAPITAL MORTGAGE SERVICES, INC. 1993-14 RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Dec. 3 /PRNewswire/ -- GE Capital Mortgage Services, Inc. (GECMSI) $449.0 million REMIC multiclass pass-through certificates, series 1993-14 classes 14-A1 through 14-A8, and 14-R (senior certificates) are rated "AAA" by Fitch.
 Credit enhancement for the "AAA" senior certificates reflect 7.75 percent subordination provided by the unoffered class 14-M and 14- B1 through 14-B5 certificates. Fitch believes the subordination amounts will be sufficient to cover mortgagor defaults as well as limited borrower bankruptcy, fraud, and special hazard losses. The rating also reflects Fitch's confidence in the integrity of the legal and financial structures as well as the quality of the underlying collateral.
 The issue is securitized by a mortgage pool consisting of recently originated, conventional, fully amortizing, 30-year, fixed-rate mortgage loans secured by first liens on one- to four-family residential properties. The mortgage pool has a weighted average original loan-to-value ratio (LTV) of 74.8 percent. Limited documentation loans represent 3.4 percent, cash-out refinance loans 6.1 percent, and jumbo loans (balances between $300,001-$600,000) 40.5 percent. Approximately 37 percent of the mortgaged properties are located in California, followed by 10 percent in Maryland, and 7.0 percent in Virginia.
 GECMSI, a wholly owned subsidiary of GE Capital Mortgage Corp., deposited the loans in the trust, which issued the certificates. GE Capital Mortgage Services, Inc. will act as servicer for the pool. A real estate mortgage investment conduit (REMIC) election will be made with respect to the trust fund for federal income tax purposes.
 -0- 12/3/93
 /CONTACT: Betty Tan, 212-908-0688 or Joanne M. Scatassa, 212-908-0671, both of Fitch/
 (GE)


CO: GE Capital Mortgage Services, Inc. ST: IN: FIN SU: RTG

LG -- NY030 -- 0179 12/03/93 11:34 EST
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Publication:PR Newswire
Date:Dec 3, 1993
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