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PRUDENTIAL HOME MORTGAGE CERTIFICATES 1992-34 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --

PRUDENTIAL HOME MORTGAGE CERTIFICATES 1992-34 RATED 'AAA/AA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Oct. 21 /PRNewswire/ -- The Prudential Home Mortgage Securities Co., Inc.'s (PHMSC) $467.8 million mortgage pass-through certificates, series 1992-34, class A are rated 'AAA' by Fitch. The issuer's $7.4 million class M certificates are rated 'AA'.
 The 'AAA' rating on the class A senior certificates reflects the credit enhancement provided by the 1.50 percent subordinate class M certificates and the 3.75 percent subordinate class B certificates, which are not rated. Fitch believes these amounts of credit enhancement will be sufficient to cover credit losses including limited bankruptcy, fraud, and special hazard losses. The 'AA' rating on the class M certificates reflects credit support provided by the 3.75 percent subordinate class B certificates. In addition, both ratings also reflect the high quality of the underlying collateral, the integrity of the legal and financial structures, and the servicing capabilities of The Prudential Home Mortgage Co., Inc. (PHMC).
 The mortgage pool consists of conventional, fixed-rate, fully- amortizing, 15-year mortgage loans secured primarily by one- to four- family residential properties located primarily in California (46 percent) and in the Northeast (23 percent). The pool contains alternative documentation loans which account for approximately 36 percent and cash-out refinance loans which account for 15 percent. The weighted average original loan-to-value (LTV) for the mortgage pool is a low 65 percent. The low LTV, along with the 15-year collateral primarily contribute to the low credit enhancement level for the pool.
 The mortgage loans were originated or acquired by PHMC, and in turn sold to PHMSC. PHMSC, 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, two real estate mortgage investment conduit elections will be made with respect to the trust fund.
 -0- 10/21/92
 /CONTACT: Joanne M. Scatassa, 212-908-0671, or Mary Sue Lundy, 212-908-0526, both of Fitch/ CO: Prudential Home Mortgage Securities Co. ST: New York IN: SU: RTG


SM -- NY100 -- 3009 10/21/92 15:05 EDT
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Date:Oct 21, 1992
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