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CWMBS INC. MORTGAGE CERTIFICATES $191.8 MILLION SERIES 1993-9 RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Dec. 3 /PRNewswire/ -- CWMBS, Inc. $191.8 million mortgage pass-through certificates, series 1993-9, classes A-1 through A-5, PO, X, and A-R are rated 'AAA' by Fitch. The 'AAA' rating is based on the credit loss protection provided by the 3.1 percent class B-1 certificates and not-offered 0.40 percent class B-2 certificates.
 The class B certificates provide additional protection for losses arising from mortgagor bankruptcy, borrower fraud, and special hazard events up to specified amounts. The ratings on the certificates also reflect Fitch's confidence in the integrity of the legal and financial structures, the quality of the mortgage collateral, and master servicing capabilities of Countrywide Funding Corp. (Countrywide).
 The mortgage pool consists of 15-year, recent origination, conventional, first lien, fixed-rate, one- to four-family residential mortgage loans. The pool has a weighted average original loan-to-value ratio (LTV) of 65.5 percent. Additionally, approximately 4.1 percent of the pool consists of loans having LTVs greater than 80 percent, all of which are covered by primary mortgage insurance. In addition, 12.4 percent are cash-out refinance loans and 50.4 percent is comprised of jumbo mortgage loans (balances between $300,001-$600,000). Approximately 49.4 percent of the pool is secured by properties located in California (26.4 percent Los Angeles, 7.9 percent San Francisco, 2.9 percent San Diego, and 12.7 percent other California areas), 6.3 percent are in Massachusetts, and 4.8 percent are in Illinois.
 The loans were originated by or for Countrywide, which also acts as master servicer of the pool. CWMBS, Inc., a limited purpose corp., purchased the loans from Countrywide and subsequently assigned the loans to the trust. A real estate mortgage investment conduit election will be made with respect to the trust fund for federal income tax purposes.
 -0- 12/3/93
 /CONTACT: Michele J. Loesch 212-908-0686 or Jill M. Guido 212-908-0682/


CO: CWMBS Inc. ST: IN: FIN SU: RTG

SP -- NY046 -- 0284 12/03/93 14:36 EST
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Publication:PR Newswire
Date:Dec 3, 1993
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