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FLEET MORTGAGE SECURITIES $123.4 MILLION SERIES 1992-1 CERTIFICATES 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 FLEET MORTGAGE SECURITIES $123.4 MILLION SERIES 1992-1 CERTIFICATES
 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
 NEW YORK, Feb. 27 /PRNewswire/ -- Fleet Mortgage Securities, Inc.'s $123.4 million REMIC cash flow certificates, Series 1992-1, are rated "AAA" by Fitch. The rating is based on the high quality of the underlying mortgage loans as well as credit loss and fraud coverage provided by a 7.00 percent GEMICO mortgage pool policy, special hazard coverage provided by a $1.7 million Aetna policy, and a $100,000 bankruptcy reserve fund.
 The rating also reflects Fitch's confidence in the integrity of the legal and financial structures as well as Fitch's belief that the master servicing capabilities of Fleet Real Estate Funding Corp., an indirect, wholly owned subsidiary of Fleet/Norstar Financial Group, Inc., are excellent and that their underwriting guidelines are stringent by industry standards.
 The mortgage pool consists of approximately 419 conventional, fixed- rate, fully amortizing mortgage loans secured by first liens on one- to four-family residential properties. Approximately 80 percent of the pool is secured by loans with original terms to maturity of 30 years with the remainder of the pool made up of 15-, 20- or 25-year loans. The loans are recent origination with an average loan-to-value ratio (LTV) of approximately 70 percent. All properties are owner-occupied and 2.5 percent of the loans are secured by units in condominiums. The pool is well diversified geographically with concentrations in California (27 percent) and New York (23 percent).
 The certificates, issued pursuant to the pooling and servicing agreement dated as of Feb. 1, 1992, will be structured in a "super/senior" format consisting of priority and subordinate certificates. All certificates will be rated "AAA;" however, the priority certificates will also benefit from additional credit loss protection provided by the subordinate certificates.
 The seller, Fleet Mortgage Securities Inc., a special purpose corporation, sold the loans to the trust. The loans were acquired by the seller from Fleet Real Estate Funding Corp., Fleet Mortgage Corp., and Fleet National Bank. A REMIC election will be made for federal income tax purposes.
 -0- 2/27/92
 /CONTACT: Alexander K. Zabik, 212-908-0500, or Louis A. Colosimo, 212-908-0567, both of Fitch/ CO: Fleet Mortgage Securities, Inc. ST: IN: FIN SU: RTG


GK -- NY064 -- 3320 02/27/92 13:58 EST
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Date:Feb 27, 1992
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