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BEAR STEARNS MTGE CTFS SER 1993-6 Cl A/X/R RATED 'AAA' BY FITCH --FITCH FINANCIAL WIRE--

 NEW YORK, July 2 /PRNewswire/ -- Bear Stearns Mortgage Securities Inc.'s (BSMSI) $168.7 million mortgage pass-through certificates, series 1993-6 class A, X, and R certificates are rated "AAA" by Fitch. Also, the $5.5 million class M certificates are rated "AA," the $2.3 million class B-1 certificates are rated "A," and the $1.8 million class B-2 certificates are rated "BBB+."
 The "AAA" rating on classes A, X, and R reflects the credit enhancement provided by the 3.00 percent subordinated class M and the 4.50 percent subordinated class B; the "AA" rating on class M reflects the credit enhancement provided by the 1.25 percent subordinated class B-1, the 1.00 percent subordinated class B-2 and the 2.25 percent subordinated class B-3 through B-6 (privately placed); the "A" rating on class B-1 reflects the credit enhancement provided by the 1.00 percent subordinated class B-2 and the 2.25 percent subordinated class B-3 through B-6; and the "BBB+" rating on class B-2 reflects the credit enhancement provided by the 2.25 percent subordinated class B-3 through B-6. The ratings also acknowledge the strength of the legal and financial structures as well as the master servicing capabilities of Countrywide Mortgage Conduit, Inc. (Countrywide).
 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, approximately 39 percent Southern and 21 percent Northern. The weighted average original loan- to-value ratio (LTV) is 74.8 percent; 20.2 percent of the pool consists of mortgage loans with original LTVs greater than 80 percent; limited documentation and cash-out refinance loans account for 5.4 percent and 12.3 percent of the mortgage pool, respectively.
 Approximately 23 percent of the mortgage pool will consist of mortgage loans acquired by Countrywide Funding Corp., an affiliate of Countrywide. The balance of the mortgage pool will consist of mortgage loans acquired by Countrywide from various approved seller/servicers. Approximately 10 percent of the mortgage pool will be serviced by three of these unaffiliated seller/servicers. The mortgage loans will be acquired by BSMSI on the date of issuance of the Certificates. Two real estate mortgage investment conduit elections will be made for federal income tax purposes.
 -0- 7/2/93
 /CONTACT: Jill M. Guido, 212-908-0682 or Joanne M. Scatassa, 212-908-0671, both of Fitch/
 (BSC)


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

LG -- NY020 -- 8169 07/02/93 13:19 EDT
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Publication:PR Newswire
Date:Jul 2, 1993
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