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CMC SECURITIES CORP. II $129.0 MILLION SERIES 1993-2G 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Nov. 2 /PRNewswire/ -- CMC Securities Corp. II's $129 million REMIC multiclass pass-through certificates, series 1993-2 classes 2G-A1, 2G-A2, 2G-A3, 2G-A3IO, 2G-A4, 2G-A4IO, 2G-ARU, and 2G-ARL are rated "AAA" by Fitch.
 The "AAA" rating reflects the credit loss protection provided by the 8 percent subordinated privately placed class M and class B certificates. The class M and class B certificates provide additional protection for losses arising from mortgagor bankruptcy, borrower fraud, and special hazard events up to specified amounts. The ratings are also based on the quality of the underlying collateral, the integrity of the legal and financial structures, and Capstead Mortgage Corp.'s (CMC) capabilities as administrator.
 Collateral for the certificates will be provided by a mortgage pool of 30-year, fixed-rate, conventional, recently originated, first lien, one- to four-family residential real properties located in California (22 percent), Virginia (11 percent), and various other states. The weighted average original loan-to-value ratio (LTV) of the mortgage pool is 75.3 percent; approximately 7.0 percent are cash-out refinance loans; 8.9 percent are limited documentation loans; and 37.6 percent have balances between $300,000 and $600,000.
 The certificates will be issued by CMC Securities Corp. II, a limited-purpose finance subsidiary wholly owned by CMF Mortgage Funding Corp. The mortgage loans will be acquired by CMF Mortgage Funding Corp. from CMC Investment Partnership, which has acquired or will acquire such mortgage loans from various sellers. CMC will act as administrator of the mortgage loans. CMC also will service approximately 57 percent of the mortgage loans. The remaining loans will be serviced by Lomas Mortgage USA, Inc. (20 percent) and various other subservicers. For federal income tax purposes, two real estate mortgage investment conduit elections will be made with respect to the certificates.
 -0- 11/2/93
 /CONTACT: Justin L. Ventura, 212-908-0675, or Michele J. Loesch, 212-908-0686/


CO: CMC Securities Corp. II ST: IN: FIN SU: RTG

MP -- NY086 -- 9814 11/02/93 16:34 EST
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Publication:PR Newswire
Date:Nov 2, 1993
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