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RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S23 RATED 'AAA/AA' BY FITCH

 RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S23
 RATED 'AAA/AA' BY FITCH
 NEW YORK, June 29 /PRNewswire/ -- Residential Funding Mortgage Securities I, Inc.'s $200.9 million mortgage pass-through certificates, series 1992-S23 class A and class R, are rated 'AAA' and the $4.3 million class M certificates are rated 'AA' by Fitch.
 The 'AAA' rating on the class A and class R senior certificates reflects credit loss protection provided by the 2.0 percent subordinate class M certificates, and the 5.0 percent subordinate class B certificates, which are not rated. The 'AA' rating on the class M certificates reflects the credit support provided by the 5.0 percent subordinate class B certificates. Both ratings also reflect the high quality of the mortgage collateral, the strength of the legal and financial structures, and the master servicing capabilities of Residential Funding Corp. (RFC).
 The mortgage pool consists of recently originated, conventional, fully amortizing, 30-year fixed-rate mortgage loans secured by first liens on one- to four-family residential properties. All mortgage loans were acquired by RFC, mainly from unaffiliated sellers, except for 11.2 percent purchased from GMAC Mortgage Corp. of PA, an RFC affiliate. The weighted average loan-to-value ratio for the mortgage pool is a relatively low 69.5 percent. Limited documentation loans account for approximately 23.8 percent of the pool, cash-out refinance loans 17.9 percent, and loans secured by properties located in California 49.1 percent.
 Residential Funding Mortgage Securities I, Inc., a special purpose corporation, deposited the loans in the trust, which issued the certificates. RFC will act as master 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- 6/29/92
 /CONTACT: Joanne M. Scatassa, 212-908-0671, or Mary Sue Lundy, 212-908-0526, both of Fitch/ CO: Residential Funding Mortgage Securities I, Inc. ST: IN: FIN SU: RTG


SB -- NY062 -- 4796 06/29/92 14:14 EDT
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Date:Jun 29, 1992
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