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FIRST BOSTON MORTGAGE $115.2 MILLION SERIES 19 92-5 CTFS. 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Dec. 30 /PRNewswire/ -- First Boston Mortgage Securities Corp.'s (FBMSC) $115,196,161 Conduit Pass-Through Certificates Series 1992-5, Class 2-A certificates are rated 'AAA' and Class 1-A certificates are rated 'AA' by Fitch. The 'AAA' rating primarily reflects the credit enhancement provided by a 14.00 percent mortgage pool insurance policy issued by General Electric Mortgage Insurance Corp. (GEMICO); and the 'AA' rating reflects the credit enhancement provided by a separate 6.00 percent GEMICO pool policy. A $2,065,281 million Special Hazard Insurance Policy and a $258,000 Bankruptcy Bond will be issued by Commerce and Industry Insurance Co. to cover special hazard and borrower bankruptcy losses to a limited extent. Fitch's ratings also reflect the integrity of the legal and financial structure and the servicing capabilities of the servicer, Countrywide Funding Corporation (Countrywide).
 The mortgage pool consists of adjustable rate, conventional mortgage loans secured by deeds of trust on residential properties, and is divided into two separate loan groups. Loan group 1 consists of mortgage loans indexed to the Constant Maturity Treasury Index; and loan group 2 consists of loans indexed to the 6-month London Interbank Offered Rate (LIBOR).
 Mortgage loan group 1 consists of approximately 297 loans primarily secured by properties located in California; 21 percent Northern California and 50 percent Southern California. The original weighted average loan-to-value (LTV) ratio is 71 percent and 14 percent of the loans have LTVs greater than 80 percent. Condominiums, attached planned unit developments (PUDs) or townhomes represent 26 percent of the pool; cash- out refinance loans comprise 23 percent; and 44 percent of loan group 1 consists of jumbo mortgage loans (balances $300,001 - $600,000).
 Mortgage loan group 2 consists of approximately 72 loans primarily secured by properties located in California; 26 percent northern and 69 percent southern. The original weighted average LTV is 73 percent and 14 percent of the loans have LTVs greater than 80 percent. Condominiums, attached PUDs or townhomes represent 28 percent of the pool; cash-out refinance loans comprise 21 percent; and 40 percent of loan group 1 consists of jumbo mortgage loans.
 Each mortgage loan was originated by or on behalf of Countrywide, the servicer. The loans were purchased by FBMSC from First Boston Mortgage Capital Corp., an affiliate of FBMSC, and transferred to the trust in exchange for the certificates. It was a condition to the purchase of the mortgage loans by FBMSC that each loan was approved for pool insurance by GEMICO. No election will be made to treat the mortgage pool as a real estate investment conduit (REMIC).
 -0- 12/30/92
 /CONTACT: Jill M. Guido, 212-908-0682, or Alexander K. Zabik, 212-908-0634, both of Fitch/


CO: First Boston Mortgage Securities Corp. ST: New York IN: FIN SU: RTG

AH -- NY041 -- 0697 12/30/92 16:23 EST
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Date:Dec 30, 1992
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