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GE CAPITAL MORTGAGE SERVICES, INC. 1993-15 RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Dec. 3 /PRNewswire/ -- GE Capital Mortgage Services, Inc. (GECMSI) $146.3 million REMIC multiclass pass-through certificates, series 1993-15 classes 15-A1 through 15-A10, 15-R, and 15-RL (senior certificates) are rated "AAA" by Fitch.
 Credit enhancement for the "AAA" senior certificates reflect 4.25% subordination provided by the unoffered class 15-M and 15-B1 through 15-B5 certificates. Fitch believes the subordination amounts will be sufficient to cover mortgagor defaults as well as limited borrower bankruptcy, fraud, and special hazard losses. The rating also reflects Fitch's confidence in the integrity of the legal and financial structures as well as the quality of the underlying collateral.
 The credit support level reflects the quality of the pool as evidenced by a low weighted average original loan-to-value ratio (LTV) of 65.8% and mortgage loans with original terms to maturity of 15-years. Other features of the pool include limited documentation loans representing 5.9%, cash-out refinance loans 8.8%, and jumbo loans (balances between $300,001-$600,000) 51.0%. Approximately 24% of the mortgaged properties are located in California, followed by 10% in Texas, and 8.0% in New Jersey.
 GECMSI, a wholly owned subsidiary of GE Capital Mortgage Corp., deposited the loans in the trust, which issued the certificates. GE Capital Mortgage Services, Inc. will act as servicer for the pool. Two separate real estate mortgage investment conduit (REMIC) elections will be made with respect to the trust fund for federal income tax purposes.
 -0- 12/3/93
 /CONTACT: Betty Tan 212-908-0688, or Joanne M. Scatassa, 212-908-0671, both of Fitch Financial Wire/


CO: GE Capital Mortgage Services, Inc. ST: California, Texas, New Jersey IN: FIN SU: RTG

PS -- NY031 -- 0192 12/03/93 11:51 EST
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Publication:PR Newswire
Date:Dec 3, 1993
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