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RTC MORTGAGE PASS-THROUGH SERIES 1992-15 RATED 'AAA/A' BY FITCH -- FITCH FINANCIAL WIRE --

 RTC MORTGAGE PASS-THROUGH SERIES 1992-15 RATED 'AAA/A' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Nov. 2 /PRNewswire/ -- Resolution Trust Corp.'s mortgage pass-through certificates, Series 1992-15, $589.6 million classes A-1 through A-7 and $3.1 million classes B-1 and B-6 are rated 'AAA' by Fitch. The $28.3 million classes B-2 through B-5 and B-7 certificates are rated 'AA.'
 The 'AA' rating primarily reflects the credit enhancement provided by two reserve funds. Reserve fund I will initially equal 8.25 percent of the aggregate principal balance of mortgage loan group 1 through 3 (classes A-1, B-1, A-2, B-2, A-3 and B-3) with an additional 0.50 percent liquidity amount available to cover advances of principal or interest due on delinquent or defaulted mortgage loans in the related loan groups. Reserve fund II will initially equal 12.00 percent of the aggregate principal balance of mortgage loans groups 4 through 7 (classes A-4, B-4, A-5, B-5, A-6, B-6, A-7, and B-7) with an additional 0.50 percent liquidity amount.
 The 'AAA' rating reflects the reserve funds as well as the additional credit enhancement provided to classes A-1 through A-7 by the subordination of the related class B certificates, with the reserve fund in the case of classes B-1 and B-4 being adequate to rate both A-1, B-1, A-4 and B-4 'AAA.' Each rating also reflects Fitch's confidence in the integrity of the legal and financial structures as well as the master servicing capabilities of Lomas Mortgage USA, Inc.
 Mortgage loan groups 1 through 3 consist of conventional, one- to four-family, residential fixed rate mortgage loans. The mortgage loans are well-diversified with the largest concentration in Florida (27.3 percent). The weighted average loan-to-value (LTV) ratio is approximately 81 percent, and 43.8 percent of the pool has LTVs greater than 80 percent. As of the cut-off date, the 30- to 59-day delinquencies were approximately 11.5 percent and the 60- to 89-day delinquencies 3.4 percent. The mortgage loans are seasoned, on average, nine years, lending strength to the pool.
 Mortgage loan groups 4 through 7 are comprised of conventional, one- to four-family, residential adjustable rate mortgage loans (indexed primarily to U.S. Treasury securities, 11th District Cost of Funds index). The loans are predominantly located in California (15.9 percent) and Oklahoma (14.3 percent). The weighted average LTV is approximately 79.5 percent, and 40.8 percent of the mortgage loans have LTVs greater than 80 percent. The mortgage loans are seasoned, on average, six years with 30- to 59-day delinquencies approximately 10 percent, and 60- to 89-day delinquencies 2.4 percent.
 The mortgage loans were acquired by the RTC in its corporate capacity or as conservator or receiver for approximately 218 state or federally chartered depository institutions. The collateral has been sold and assigned to the trust which issued the certificates. Lomas Mortgage USA, Inc., as master servicer, will supervise approximately 57 servicers. An election will be made to treat the trust fund as a real estate mortgage investment conduit for federal income tax purposes.
 -0- 11/2/92
 /CONTACT: Jill M. Guido, 212-908-0682, or Mary Sue Lundy, 212-908-0526, both of Fitch/ CO: Resolution Trust Corp. ST: New York IN: FIN SU: RTG


CK -- NY056 -- 1615 11/02/92 12:29 EST
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Publication:PR Newswire
Date:Nov 2, 1992
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