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RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S26 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --

 RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S26
 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
 NEW YORK, Aug. 27 /PRNewswire/ -- Residential Funding Mortgage Securities I, Inc.'s $350 million mortgage pass-through certificates, series 1992-S26 class A and class R are rated 'AAA' by Fitch. The $8.5 million class M certificates are rated 'AA'.
 Credit enhancement for the class A and class R senior certificates is provided by the 2.25% subordinate class M certificates and the 4.75 percent unrated subordinate class B certificates. The 'AA' rating on the class M certificates reflects the credit support provided by the 4.75 percent subordinate class B certificates. The ratings also reflect the high quality of the underlying mortgage loans in the pool, a secure legal and financial structure, and the master servicing capabilities of Residential Funding Corp. (RFC).
 The certificates are collateralized 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 with an aggregate principal balance as of the cut-off date of $376.4 million. The mortgage pool has a weighted average original loan- to-value ratio (LTV) of 70.17 percent. Limited documentation loans account for approximately 22.1 percent of the pool, equity refinance loans 17.9 percent, and loans secured by properties located in California 70.0 percent. All of the mortgage loans were purchased by RFC from unaffiliated sellers, except for 8.0 percent purchased from GMAC Mortgage Corp. of Pa., an RFC affiliate.
 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. Two separate real estate mortgage investment conduit (REMIC) elections will be made in connection with the trust fund for federal income tax purposes.
 -0- 8/27/92
 /CONTACT: Joanne M. Scatassa, 212-908-0671, or Betty Tan, 212-908-0500, both of Fitch/ CO: Residential Funding Mortgage Securities I, Inc. ST: IN: FIN SU: RTG


SH -- NY066 -- 4071 08/27/92 15:47 EDT
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Publication:PR Newswire
Date:Aug 27, 1992
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