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CWMBS INC. MORTGAGE SECURITIES $378.5 MILLION SERIES 1993-5 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Nov. 3 /PRNewswire/ -- CWMBS, Inc.'s $378.5 million mortgage pass-through certificates, series 1993-5, classes A-1 through A-6, A-7A, A-7B, A-8A, A-8B, A-9, PO, X, and A-R are rated "AAA" by Fitch.
 The "AAA" rating on classes A-1 through A-6, A-7A, A-7B, A-8A, A-8B, A-9, PO, X, and A-R is based on the credit loss protection provided by the 4.0 percent class B-1 certificates, 1.15 percent class B-2 certificates, and 0.35 percent class B-3 certificates (not rated by Fitch). The class B certificates provide additional protection for losses arising from mortgagor bankruptcy, borrower fraud, and special hazard events up to specified amounts. The rating also reflects 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 30-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 of 69.6 percent. Additionally, approximately 4.4 percent of the pool was originated under a limited documentation program; 10.3 percent are cash-out refinance loans; and 47.5 percent is comprised of jumbo mortgage loans (balances between $300,001-$600,000). Approximately 65.4 percent of the pool is secured by properties located in California (33.4 percent Los Angeles, 12.5 percent San Francisco, 4.6 percent San Diego, and 14.9 percent Other), while 4.5 percent are in Massachusetts and 3.5 percent in Illinois.
 The loans were originated by 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- 11/3/93
 /CONTACT: Michele J. Loesch, 212-908-0686, or Jill M. Guido, 212-908-0682/


CO: CWMBS, Inc.; Countrywide Funding Corp. ST: IN: SU: RTG

MP -- NY063 -- 0162 11/03/93 12:46 EST
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Publication:PR Newswire
Date:Nov 3, 1993
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