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COUNTRYWIDE MORTGAGE TRUST 1993-I, SERIES 1993-I RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, March 31 /PRNewswire/ -- Countrywide Mortgage Trust 1993- I's $145.7 million Collateralized Mortgage Obligations Series 1993-I are rated `AAA' by Fitch. The rating reflects the quality of the underlying collateral, the integrity of the financial and legal structures, and the capabilities of the servicer, Countrywide Funding Corp. (CFC) and the master servicer Countrywide Mortgage Investments, Inc. (CMI). In addition, the rating also reflects the adequate credit loss coverage provided by a 6 percent General Electric Mortgage Insurance Corp. mortgage pool insurance policy and non-credit loss coverage provided by $2.6 million special hazard insurance policy and $100,000 bankruptcy bond issued by Commerce & Industry Insurance Co.
 The bonds are collateralized by recently originated, conventional, fully amortizing, 30-year, fixed-rate mortgage loans secured by first liens on one- to four-family residential properties located primarily in Northern and Southern California, approximately 41 percent and 56 percent, respectively. The pool has a low weighted average original loan-to-value of 67.6 percent. Loans originated under a reduced documentation program account for approximately 8 percent, cash-out refinance loans 10 percent, jumbo loans 49 percent (balances between $300,001-$600,000), and super-jumbo loans 7 percent (balances between $600,001-$1,000,000).
 The bonds are classified as first tier, priority, or non-priority bonds. Principal distributions will be paid initially to the first tier bonds (classes 1A, 1B, and 2) on a pro rata basis until such bonds are paid in full. Thereafter, principal distributions will be made to the priority (classes 4, 5, 6, and 7) and non-priority (class 3) bonds. The class 3 bonds will absorb any credit losses if, in the unlikely event, credit losses exceed the amount of the pool policy. However, Fitch believes that the pool policy will provide `AAA' protection for the class 3 bonds, irrespective of their loss position.
 The mortgage loans were acquired from CFC by CMI, and in turn transferred to Countrywide Mortgage Obligations II, Inc., a limited purpose finance subsidiary of CMI, which deposited the loans in the trust, which issued the bonds. A real estate mortgage investment conduit has not been elected for federal income tax purposes.
 -0- 3/31/93
 /CONTACT: Joanne M. Scatassa, 212-908-0671 or Mary Sue Lundy, 212-908-0526, both of Fitch/
 (CWM)


CO: Countrywide Mortgage Trust ST: California IN: FIN SU: RTG

WB -- NY065 -- 1632 03/31/93 15:52 EST
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Date:Mar 31, 1993
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