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CAPMAC CREDIT ENHANCEMENT FOR HOUSEHOLD FINANCE

 CAPMAC CREDIT ENHANCEMENT FOR HOUSEHOLD FINANCE
 NEW YORK, Oct. 28 /PRNewswire/ -- Capital Markets Assurance


Corporation (CapMAC) today announced that it has provided credit enhancement for Household Finance Corporation's latest home equity loan- backed transaction, Home Equity Loan Asset-Backed Certificates, Series 1992-2, a $757 million offering which closed today. Priced last week, the issue was underwritten by a syndicate led by Lehman Brothers and rated triple-A by Moody's Investors Service, Standard & Poor's, and Duff & Phelps.
 Since 1988, more than $22 billion of home equity loan-backed securities have been issued in the public markets, more than $9 billion of which have been insured. CapMAC pioneered the use of a monoline financial guaranty in the public market for home equity loan-backed transactions in November 1990 when it guaranteed the subordinate tranche of an offering for First Interstate Bank of California.
 With the Household Finance Corporation transaction, CapMAC has provided guarantees to support more than $4 billion of securities issued, representing 18 percent of the total market for public home equity loan-backed securities.
 CapMAC is a monoline financial guaranty insurance company rated triple-A by Moody's Investors Service, Standard & Poor's, and Duff & Phelps. In addition to insuring home equity loan-backed securities, the company insures securities backed by other consumer market assets, such as credit card receivables and auto loans, and is a leader in providing credit enhancement to asset-backed commercial paper programs. The company takes an active role in structuring transactions and monitoring each issue throughout its entire life.
 Originally founded in 1987, CapMAC is privately owned by a institutional investor group led by CapMAC senior management and employees, and Dillon Read's Saratoga Partners II L.P.
 -0- 10/28/92
 /CONTACT: Susan Loewe or Fred Garcia, 212-953-2550, of Clark & Weinstock, for CapMAC/ CO: Capital Markets Assurance Corporation ST: New York IN: INS SU:


SB-LR -- NY093 -- 6102 10/28/92 14:24 EST
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Publication:PR Newswire
Date:Oct 28, 1992
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