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FLEET MORTGAGE SECURITIES $96.4 MILLION SERIES 1992-2 CERTIFICATES RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 FLEET MORTGAGE SECURITIES $96.4 MILLION SERIES 1992-2 CERTIFICATES
 RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
 NEW YORK, May 28 /PRNewswire/ -- Fleet Mortgage Securities, Inc.'s $96.4 million REMIC cash flow certificates, series 1992-2 are rated 'AAA' by Fitch. The rating is based on the credit enhancement provided to the senior securities by the 6.5 percent subordinated securities as well as Fitch's confidence in the integrity of the legal and financial structure and the strong master servicing capabilities of Fleet Real Estate Funding Corp.
 The mortgage pool consists of fixed rate one- to four-family residential mortgage loans secured by properties located primarily in California (27 percent) and New York (19 percent). The weighted average loan-to-value ratio (LTV) is 69 percent and 10 percent of the pool has LTV's greater than 80 percent. Cash-out refinance loans total 21 percent of the pool while limited documentation loans compose 24 percent of the pool. Approximately 43 percent of the pool consists of jumbo mortgage loans (loans with balances of $300,001-$600,000) and 2 percent of the pool, super jumbo mortgage loans (loans with balances greater than $600,000).
 The loans were acquired by the seller from Fleet Real Estate Funding Corp. (FREF), Fleet Mortgage Corp., and Fleet National Bank. The seller, Fleet Mortgage Securities, Inc., a special purpose corporation, sold the loans to the trust which issued the certificates. FREF, an indirect wholly owned subsidiary of Fleet/Norstar Financial Group, Inc., will act as master servicer. A real estate mortgage investment conduit election will be made for federal income tax purposes.
 -0- 5/28/92
 /CONTACT: Jill M. Guido, 212-908-0682 or Mary Sue Lundy, 212-908-0526, both of Fitch/ CO: Fleet Mortgage Securities, Inc. ST: IN: FIN SU: RTG


SM -- NY083 -- 4960 05/28/92 17:14 EDT
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Publication:PR Newswire
Date:May 28, 1992
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