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DUFF & PHELPS RATES HOUSING SECURITIES $182,217,514 MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 1993-A

 NEW YORK, March 31 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has assigned a rating of `AAA' to the four publicly offered senior mortgage pass-through certificates issued by Housing Securities, Inc. The classes are as follows:
 Class Amount Rate D&P Rating
 A-1 $188,958,224 7.50 percent `AAA' (Triple A)
 A-2 $188,958,224(Notional) 0.425 percent `AAA' (Triple A)
 A-3 $178,205 1,000 percent `AAA' (Triple A)
 A-4 $391,390 0.00 percent `AAA' (Triple A)
 The ratings reflect the level of subordination provided by privately placed mezzanine and subordinate classes aggregating 7.75 percent of the collateral balance. Class A-2 is an interest only strip off of Class A-1. Class A-3 is a super premium class which has a small principal balance and receives an interest strip off of a portion of the mortgage loans in the pool. The Class A-4 is a principal only strip off of a portion of the mortgage loans in the pool. D&P's ratings do not address the effect on the certificates' yield attributable to prepayments or recoveries on the underlying mortgage loans. Further, in the case of the Class A-2 and A-3 certificates, the rating does not address whether investors will recoup the purchase price of the certificates.
 The certificates were issued pursuant to a Pooling and Servicing Agreement dated as of March 1, 1993, among Housing Securities, Inc., as Sponsor, Citibank, N.A. "Citibank", as Master Servicer, REMIC Servicer and Seller and State Street Bank and Trust Company as Trustee. The certificates represent ownership interests in a pool of fixed-rate first-lien residential mortgage loans originated by approximately 45 different institutions. All of the mortgage loans were purchased by Citibank and sold to Housing Securities, Inc. The mortgage loans are located in 44 different states, with 40 percent in California, 12 percent in New York, 6 percent in New Jersey and 6 percent in Pennsylvania.
 The loans will be serviced by multiple servicers, with Citibank acting as Master Servicer. Citibank is a wholly owned subsidiary of Citicorp, a Delaware corporation whose principal office is located in New York, and is Citicorp's principal subsidiary. Citibank is a commercial bank offering a wide range of banking and trust services. As of Dec. 31, 1992, Citibank, together with its subsidiaries, had total assets of approximately $159.5 billion, total deposits of approximately $115.0 billion, total net loans of approximately $101.0 billion and total stockholder equity of approximately $9.0 billion. As of Sept. 30, 1992, Citibank master serviced over 22,000 loans totaling almost $5 billion in aggregate outstanding balances.
 -0- 3/31/93
 /CONTACT: Jennifer E. Schneider, 212-908-0207 or Andrew B. Jones, 212-908-0205, both of Duff & Phelps Credit Rating Co./


CO: Housing Securities, Inc. ST: IN: FIN SU: RTG

WB -- NY071 -- 1667 03/31/93 16:30 EST
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Date:Mar 31, 1993
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