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DUFF & PHELPS RATES GREENWICH CAPITAL ACCEPTANCE, INC. $259,363,000.00 MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1993-LB3

 NEW YORK, Dec. 30 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has rated the publicly offered senior and mezzanine mortgage pass- through certificates issued by Greenwich Capital Acceptance, Inc. The ratings on the three classes of certificates range from `AAA` to `AA`, as follows:
 Class Amount Rate D&P Rating
 A-1 $231,844,000 variable AAA (Triple A)
 A-2 $27,519,000 variable AA (Double A)
 S $0 strip rate AAA (Triple A)
 The ratings reflect the level of subordination provided to each class by the aggregate amount of the other classes subordinate to it. Class A-1 is supported by Class A-2 and privately placed subordinate classes which total 15.75 percent of the collateral balance. Class A-2 is supported by the privately placed subordinate classes which total 5.75 percent of the collateral balance. The level of subordination behind each class reflects the results of D&P's analytical model which assesses the credit enhancement requirements at each rating level. The rating on the Class S certificate does not address the change in yield attributable to prepayments and recoveries on the underlying mortgage loans.
 The certificates represent beneficial ownership interests in a pool of adjustable-rate first-lien residential mortgage loans originated by Long Beach Bank, F.S.B. Long Beach is a federally chartered savings bank, the principal offices of which are located in Orange, Calif. Long Beach Bank lends for the purchase or refinancing of properties located primarily in Southern California. Long Beach currently services over 20,000 loans totaling over $2 billion in aggregate outstanding balances and will service the mortgage loans in this transaction.
 D&P has visited the origination and servicing operations of Long Beach Bank. D&P believes that Long Beach has the experience and expertise to service these loans in a manner sufficient to support the certificate ratings.
 -0- 12/30/93
 /Contact: Jennifer E. Schneider, 212-908-0207, or Andrew B. Jones 212-908-0205, both of Duff & Phelps Credit Rating Co./


CO: Greenwich Capital Acceptance, Inc. ST: New York IN: FIN SU: RTG

TM -- NY037 -- 8188 12/30/93 18:18 EST
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Publication:PR Newswire
Date:Dec 30, 1993
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