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BEAR STEARNS MORTGAGE CERTIFICATES 1993-14 CLASSES A, P, R 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Aug. 30 /PRNewswire/ -- Bear Stearns Mortgage Securities Inc.'s (BSMSI) $284.9 million mortgage pass-through certificates, series 1993-14 class A, P, and R certificates are rated "AAA", class M is rated "AA", class B-1 is rated "A", and class B-2 is rated "BBB" by Fitch.
 The "AAA" rating on classes A, P, and R reflects the credit enhancement provided by the 3.75 percent subordinate class M and the 3.75 percent subordinate class B certificates; the "AA" rating on the class M certificates reflects the credit enhancement provided by the 3.75 percent class B certificates; the "A" rating on class B-1 certificates reflects the credit enhancement provided by the 2.25 percent class B-2 through B-5 certificates; and the "BBB" rating on class B-2 certificates reflects the credit enhancement provided by the 1.25 percent subordinate class B-3 through B-5 certificates (the classes B-3 through B-5 are privately placed). The ratings also acknowledge the strength of the legal and financial structures as well as the master servicing capabilities of Countrywide Mortgage Conduit, Inc.
 The mortgage pool will consist of conventional, one- to four-family, fully amortizing, fixed rate mortgage loans secured by first liens on residential real properties. The mortgage loans are secured by properties located primarily in California (60.7 percent). The weighted average original loan-to-value ratio (LTV) is 72.61 percent; 15.0 percent of the pool consists of mortgage loans with original LTVs greater than 80 percent; limited documentation and cash-out refinance loans account for 7.9 percent and 12.6 percent of the mortgage pool, respectively.
 The mortgage loans were acquired by Countrywide from various unaffiliated seller/servicers. Three of these unaffiliated seller/servicers are each servicing more than 10 percent of the principal balance of the mortgage pool. The mortgage loans will be acquired by BSMSI from Countrywide on the date of issuance of the Certificates and in turn will be sold to the trustee. The mortgage loans will be service by the seller/servicer, however Countrywide as master servicer will remain liable from all servicing obligations. Two real estate mortgage investment conduit elections will be made for federal income tax purposes.
 -0- 8/30/93
 /CONTACT: Jill M. Guido, 212-908-0682, or Gloria Aviotti, 212-908-0567, both of Fitch/


CO: Bear Stearns Mortgage Securities Inc. ST: New York IN: RLE SU: RTG

TS -- NY073 -- 7161 08/30/93 15:08 EDT
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Date:Aug 30, 1993
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