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FBS MORTGAGE CORP. CERTIFICATES. SERIES 1993-A RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Feb. 25 /PRNewswire/ -- FBS Mortgage Corp.'s (FBSMC) $164.2 million mortgage pass-through certificates, series 1993-A classes F and T, are rated 'AAA' by Fitch.
 The 'AAA' rating reflects the credit enhancement provided by the subordinated unrated class B certificates, which consists of two components (Pool F and Pool T subordination components) each representing 5.75 percent of the original principal balance of its respective mortgage pool. The subordination amounts are cross collateralized in that if, on any distribution date, there are insufficient funds available to distribute to the applicable class F or T senior certificates and cash flow from the other pool exceeds the amount required for distribution to its related senior certificates, the excess will be applied to make up the deficient amount. In addition, the rating reflects the high quality of the underlying collateral, the strength of the legal and financial structures, and the master servicing capabilities of FBSMC.
 The certificates are collateralized by two separate mortgage pools, Pool F and Pool T, consisting of conventional, one- to four-family, fully amortizing, fixed rate mortgage loans secured by first liens on primary residential properties. All mortgage loans in the pools were originated or acquired by FBSMC. Pool F mortgage loans (15-year) collateralize classes F-1, F-2, F-3, and F-RS, along with the class B subordination F components and Pool T mortgage loans (30-year) collateralize classes T-1 through T-6, and T-R along with the class B subordination T components. Pool F and Pool T represent approximately 46 percent and 54 percent, respectively, of the total collateral. The weighted average original loan-to-value ratio (LTV) is 67 percent for Pool F and 72 percent for Pool T. Limited documentation loans represent 30 percent for Pool F and 27 percent for Pool T, while cash- out refinance loans represent 21 percent for Pool F and 17 percent for Pool T. Both pools are well diversified geographically, with the largest concentrations in the Southeast/Great Lakes region (47 percent and 32 percent, for Pool F and Pool T, respectively), Northeast region (21 percent and 16, percent for Pool F and Pool T, respectively) and California (10 percent and 40 percent for Pool F and Pool T, respectively).
 FBSMC deposited the loans in the trust, which issued the certificates. For federal income tax purposes, two real estate mortgage investment conduit (REMIC) elections will be made with respect to the trust fund.
 -0- 02/25/93
 /CONTACT: Joanne M. Scatassa, 212-908-0671, or Betty Tan,


212-908-0688, both of Fitch/

CO: FBS Mortgage Corp. ST: IN: FIN SU: RTG

AH -- NY093 -- 0577 02/25/93 16:58 EST
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Date:Feb 25, 1993
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