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FUND AMERICA INVESTORS TRUST IV $20,249,338 COLLATERALIZED MORTGAGE OBLIGATIONS, SERIES 1993-5 RATED BY DUFF & PHELPS

 NEW YORK, Dec. 7 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has rated the following classes of Collateralized Mortgage Obligations, Series 1993-5, issued by Fund America Investors Trust IV and underwritten by First Boston:
 Class Principal Coupon Rating
 A $ 1,891,000 Zero AAA (Triple A)
 B $ 3,047,000 Zero AAA (Triple A)
 C $ 1,819,000 Zero AAA (Triple A)
 D $ 664,000 Zero AAA (Triple A)
 E $10,484,000 Zero AAA (Triple A)
 F $ 2,334,338 Zero AAA (Triple A)
 R $ 10,000 Zero AAA (Triple A)
 The bonds were issued pursuant to an indenture dated as of Dec. 1, 1993, between Fund America Investors Trust IV, as issuer, and State Street Bank and Trust, as trustee. The bonds are secured by an equivalent principal amount, as of November 1993, of Class 1 of Fannie Mae Stripped Mortgage-Backed Securities Trust 000240-CL (the SMBS certificate). In addition, there is a small reserve fund outside of the trust to be used to cover ongoing expenses of the transaction.
 All classes are principal-only classes and will bear no interest. Distributions generally will be made on the 25th of each month, or the following business day. An election will be made to treat the transaction as a REMIC. Classes A, B, C, and D are planned amortization class bonds; Class E is a targeted amortization class; and Class F is a companion class. Classes A through F are REMIC regular interests and Class R is the REMIC residual.
 D&P's ratings on the bonds do not address the effect on certificates' yield attributable to principal prepayments or recoveries on the mortgage loans underlying the SMBS certificate.
 -0- 12/7/93
 /CONTACT: Henry W. Hayssen of Duff & Phelps Credit Rating Co., 212-908-0209/


CO: Fund America Investors Trust IV ST: IN: FIN SU: RTG

WB -- NY106 -- 1504 12/07/93 19:58 EST
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Date:Dec 7, 1993
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