Printer Friendly

PRUDENTIAL HOME MORTGAGE CERTIFICATES 1992-30 RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --

PRUDENTIAL HOME MORTGAGE CERTIFICATES 1992-30 RATED 'AA' BY FITCH -- FITCH
 FINANCIAL WIRE --
 NEW YORK, Sept. 30 /PRNewswire/ -- The Prudential Home Mortgage Securities Co., Inc.'s (PHMSC) $465.6 million adjustable-rate mortgage pass-through certificates, series 1992-30, classes A-1, A-2 and A-R are rated 'AA' by Fitch. Only class A-1 is being offered at this time. The rating reflects credit loss protection provided by the 7.0 percent subordinate class B certificates, which are not rated, as well as the high quality of the mortgage collateral, strength of the legal and financial structures, and servicing capabilities of The Prudential Home Mortgage Co., Inc. (PHMC).
 The certificates are collateralized by a pool of approximately 1,743 30-year, original-term, annual adjustable-rate mortgage loans indexed to the one-year Constant Maturity Treasury Index. All mortgage loans are secured by first liens on one- to four-family residential properties. The weighted average original loan-to-value ratio (LTV) for the mortgage pool is 74.9 percent. Alternative documentation loans account for approximately 30.5 percent, while cash-out refinance loans make up 5.9 percent. The pool is well diversified geographically, with approximately 44 percent of the loans in California, 19 percent in the Northeast, and 11% in the Southwest/Central regions.
 The pass-through rate for the class A-1 certificates will be an annual rate equal to the weighted average of the excess of (i) the mortgage interest rate on each outstanding mortgage loan minus (ii) the excess of the individual gross margin over 2.50 percent. For the first distribution date, the pass-through rate will equal approximately 5.066 percent per annum.
 The mortgage loans were originated or acquired by PHMC and, in turn, sold to PHMSC. The Prudential Home Mortgage Securities Co., a special purpose corporation, deposited the loans in the trust, which issued the certificates. PHMC will act as servicer for the pool. For federal income tax purposes, a real estate mortgage investment conduit (REMIC) election will be made with respect to the trust fund.
 -0- 09/30/92
 CONTACT: Joanne M. Scatassa, 212-908-0671, or Mary Sue Lundy, 212-908-0526, both of Fitch CO: PRUDENTIAL HOME MORTGAGE SECURITIES CO., INC. IN: FIN SU: RTG -- NY064 -- X579 09/30/92
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 30, 1992
Words:360
Previous Article:LASER MEDICAL ANNOUNCES FIRST LASER 35 DELIVERY TO GERMANY
Next Article:DIGITAL WINS GERMAN PATENT DISPUTE GERMAN PATENT COURT REJECTS MTI's CHALLENGE TO SDI STI PATENT
Topics:


Related Articles
RESIDENTIAL FUNDING MORTGAGE 1992-S6 SENIOR CERTIFICATES RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
SEARS MORTGAGE SECURITIES CORP. SERIES 1992-4 RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --
RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S9 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S7 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
PRUDENTIAL HOME MORTGAGE SECURITIES SERIES 1992-14 CLASS A 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
SEARS MORTGAGE SECURITIES SERIES 1992-11 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
PRUDENTIAL HOME MORTGAGE CERTIFICATES 1993-9 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
PRUDENTIAL HOME MORTGAGE CERTIFICATES 1994-8 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
PRUDENTIAL HOME MORTGAGE CERTIFICATES 1994-18 CLASS A/M 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
PRUDENTIAL MORTGAGE CERTIFICATES 1995-2 CLASS A,AP/M RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters