Printer Friendly

RTC MORTGAGE PASS-THROUGH SERIES 1992-7 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --

 RTC MORTGAGE PASS-THROUGH SERIES 1992-7 'AAA/AA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, May 28 /PRNewswire/ -- Resolution Trust Corp.'s mortgage pass-through certificates, Series 1992-7, $960.3 million Classes A-2 through A-7 are rated 'AAA' by Fitch. The $79.9 million Class A-1 certificates and $72.7 million Class B certificates are rated 'AA'. The 'AA' rating primarily reflects the credit enhancement provided by two reserve funds. Reserve fund I will initially equal 11.50 percent of the aggregate principal balance of mortgage pool one (A-1) and mortgage pool two (A-2 and B-2). Reserve fund II will initially equal 12.25 percent of the aggregate principal balance of mortgage pool three (A-3 through A-7 and B-3 through B-7). The 'AAA' rating reflects the reserve funds as well as the additional credit enhancement provided to Class A by the subordination of the related Class B certificates. Each rating also reflects Fitch's confidence in the integrity of the legal and financial structures and the strong servicing capabilities of American Residential Mortgage Corp.
 Mortgage pool one consists of fixed-rate (less than 8 percent) conventional one- to four-family residential mortgage loans secured by properties located primarily in California, Texas, and Arizona. The weighted average loan-to-value (LTV) ratio is approximately 89 percent. As of the cut-off date, 30- to 59-day delinquencies were approximately eight percent and 60- to 89-day delinquencies approximately 2 percent. The mortgage loans are seasoned, on average, over 18 years.
 The second mortgage pool contains fixed rate (5 percent or higher) conventional one- to four-family residential mortgage loans secured by properties located mostly in Texas and California. The weighted average LTV is approximately 80 percent. The loans are, on average, seven years seasoned and, as of the cut-off date, approximately 10 percent of the pool was between 30 and 59 days delinquent while 5 percent of the pool was between 60 and 89 days delinquent.
 Mortgage pool three is comprised of adjustable rate (indexed to CMT, COFI, FHLBB Contract rate, and a variety of other indices) conventional one- to four-family residential mortgage loans located predominantly in California, Texas and Florida. This pool has a weighted average LTV of approximately 76 percent. The mortgage loans are seasoned over five years with one- to two-month delinquencies nearing 9 percent and two to three-month delinquencies over 3 percent.
 The mortgage loans were acquired by the RTC in its capacity as conservator or receiver for over 250 state or federally chartered depository institutions. The collateral has been sold and assigned to the trust which issued the certificates. American Residential Mortgage Corp. will assume all servicing responsibilities for the mortgage loans by August 1992. A real estate mortgage conduit election will be made for federal income tax purposes.
 -0- 5/28/92
 /CONTACT: Alexander K. Zabik, 212-908-0500 or Jill M. Guido, 212-908-0682, both of Fitch/ CO: Resolution Trust Corp. ST: IN: FIN SU: RTG


LR -- NY084 -- 4941 05/28/92 16:54 EDT
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:May 28, 1992
Words:487
Previous Article:GRAND CASINOS ENTERS AGREEMENT TO ACQUIRE RIGHTS TO DEVELOP MISSISSIPPI CASINO
Next Article:ROBERT-MARK REALITY COMPLETES SALE OF CERTAIN ASSETS


Related Articles
RESOLUTION TRUST CORP. SERIES 1991-17 RATED 'AAA'/'AA' BY FITCH -- FITCH FINANCIAL WIRE --
RTC MORTGAGE PASS-THROUGH SERIES 1992-1 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
RESOLUTION TRUST SERIES 1992-5 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
RTC MORTGAGE PASS THROUGH SERIES 1992-6 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
RESOLUTION TRUST 1992-C4 CLASS A PASS-THROUGHS 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
RTC MORTGAGE PASS-THROUGH SERIES 1992-8 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
RTC MORTGAGE PASS-THROUGH SERIES 1992-10 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
RTC MORTGAGE PASS-THROUGH SERIES 1992-12 'AAA/AA' BY FITCH --FITCH FINANCIAL WIRE --
FITCH AFFIRMS RTC SERIES 1992-6 'AAA' CLASS A, 'AA' CLASS B -- FITCH FINANCIAL WIRE --
Fitch Affirms RTC Mortgage Certificates Following Reserve Fund Releases - Fitch Financial Wire -

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