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FITCH RATES PAINEWEBBER MORTGAGE ACCEPTANCE CORPORATIONS IV, SERIES 1993-2 -- FITCH FINANCIAL WIRE --

 NEW YORK, Feb. 24 /PRNewswire/ -- PaineWebber Mortgage Acceptance Corporation IV's (PWMAC) $154.8 million multiclass mortgage pass-through certificates, series 1993-2, class A and R certificates are rated AAA' by Fitch. The AAA' rating reflects the credit enhancement provided by the 6.00 percent subordinated class M and the 2.00 percent subordinated class B certificates. (The subordinated class M and B certificates are not rated by Fitch). The rating alsoreflects the integrity of the legal and financial structure and the master servicing capabilities of Ryland Mortgage Co.
 The mortgage pool consists of 30-year, fixed rate, conventional mortgage loans secured by first liens on fee simple interests in one to four family residential properties. Approximately 24 percent of the pool is secured by properties located in California (14 percent northern and 10 percent southern) and 23 percent in Illinois. The original weighted average loan-to-value (LTV) ratio is 73 percent and 14 percent of the loans have LTV's greater than 80 percent. Condominiums, attached planned unit developments (PUDs) or townhomes represent 18 percent of the pool; 13 percent consists of cash-out refinance loans; and 48 percent of the pool is composed of jumbo loans with balances greater than $300,000.
 The loans were acquired by PWMAC through its affiliate, PaineWebber Real Estate Securities, Inc. (PWRESI). PWRESI acquired the loans from Norwest Mortgage, Inc. (59 percent), Midwest Mortgage Services, Inc. (20 percent), American Residential Mortgage Corporation, (12 percent), and Anchor Mortgage Services, Inc. (9 percent). Ryland Mortgage Co. will act as master servicer. Two real estate investment conduit elections will be made with respect to the trust for federal income tax purposes.
 -0- 2/24/93
 /CONTACT: Jill M. Guido, 212-908-0682, or Alex Zabik, 212-908-0634, both of Fitch/


CO: PaineWebber Mortgage Acceptance Corporation IV ST: New York IN: FIN SU: RTG

SM -- NY056 -- 9996 02/24/93 14:50 EST
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Date:Feb 24, 1993
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