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CWMBS INC. MORTGAGE PASS-THRUS 1993-C SENIOR CERTIFICATES RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Nov. 30 /PRNewswire/ -- CWMBS, Inc.'s $285.0 million mortgage pass-through certificates, series 1993-C, classes A, A-R, and PO (senior certificates) are rated 'AAA' by Fitch. The $12.1 million class B-1 certificates and the $749,309 class B-2-1 component are rated 'A'; the $220,385 class B-2-2 component and $3.6 million class B-3 certificates are rated 'BBB'.
 Credit enhancement for the senior certificates reflects 6.5% of subordination provided by classes B-1 through B-7 (subordinate certificates). Credit enhancement for the 'A' rated class B-1 and class B-2-1 is evidenced by the 2.25% classes B-2-2 through B-7 and support for the 'BBB' rated class B-2-2 and the class B-3 is evidenced by the 1.0% subordinate classes B-4 through B-7. 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 71.5%. Other features of the pool include reduced documentation loans, representing approximately 9.9%, cash-out refinance loans, 20.5%, and jumbo loans (balances between $300,001 and $600,000) 42.4%. Approximately 68.5% of the pool consists of loans located in California, 3.3% are in Virginia, 3.0% are in Washington, and 3.0% 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- 11/30/93
 /CONTACT: Joanne M. Scatassa, 212-908-0671 or Michele J. Loesch, 212-908-0686, both of Fitch/


CO: CWMBS, Inc. ST: California, Virginia IN: FIN SU: RTG

WB -- NY092 -- 8831 11/30/93 14:50 EST
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Publication:PR Newswire
Date:Nov 30, 1993
Words:360
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