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CWMBS, INC. MORTGAGE PASS-THRUS SERIES 1993-B CLASS P&O 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Nov. 1 /PRNewswire/ -- CWMBS, Inc.'s $297.9 million mortgage pass-through certificates, series 1993-B, classes A and PO (senior certificates) are rated 'AAA' by Fitch. In addition, the $7.1 million class B-1 certificates are rated 'AA', $4.7 million class B-2 certificates 'A', and $3.2 million class B-3 certificates 'BBB'.
 Credit enhancement for the senior certificates reflects 5.75 percent of subordination provided by classes B-1 through B-6 (subordinate certificates). Credit enhancement for the 'AA' class B-1 certificates is evidenced by the 3.5 percent class B-2 through B-6 certificates. Support for the 'A' class B-2 certificates is evidenced by the 2.0 percent surbordinate class B-3 through B-6 certificates and credit enhancement for the 'BBB' rated class B-3 certificates is provided by the 1.0 percent privately placed class B-4 through B-6 certificates. Fitch believes the credit enhancement will be sufficient to cover mortgagor defaults as well as limited borrower bankruptcy, fraud, and special hazard losses. The rating also reflects Fitch's confidence in the integrity of the legal and financial structures, the quality of the underlying collateral, and the servicing capabilities of Countrywide Mortgage Conduit, Inc. as master servicer.
 The certificates are collateralized by a pool of 30-year, fixed rate, recently originated, conventional, fully amortizing, mortgage loans secured by first liens on one- to four-family residential properties. The weighted average original loan-to-value ratio (LTV) for the mortgage pool is approximately 69.6 percent. Other features of the pool include reduced documentation loans, representing approximately 9.6 percent cash-out refinance loans 23.7 percent, and jumbo loans (balances between $300,001 and $600,000) 43.7 percent. Approximately 69 percent of the pool consists of loans located in California, 4.5 percent are in Illinois, 4.4 percent are in New York, and 4.1 percent are in New Jersey.
 CWMBS, Inc., a limited purpose corp., purchased the loans from Countrywide Mortgage Conduit, Inc. and deposited the loans in the trust. A real estate mortgage investment conduit election will be made with respect to the trust fund for federal income tax purposes.
 -0- 11/1/93
 /CONTACT: Joanne M. Scatassa, 212-908-0671 or Michele J. Loesch, 212-908-0686, both of Fitch/


CO: CWMBS, Inc. ST: California, Illinois, New York IN: FIN SU: RTG

WB -- NY086 -- 9347 11/01/93 17:07 EST
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Publication:PR Newswire
Date:Nov 1, 1993
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