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GE CAPITAL MORTGAGE SERVICES INC. 1993-17 PASS-THRUS SENIOR CERTIFICATES RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Nov. 30 /PRNewswire/ -- GE Capital Mortgage Services, Inc. (GECMSI) $461.7 million REMIC multiclass pass-through certificates, series 1993-17 classes 17-A1 through 17-A25, 17-R, and 17-RL (senior certificates) are rated "AAA" by Fitch. Also rated are the $17.5 million class 17-M certificates "AA," the $8.7 million class 17-B1 certificates "A," and the $6.2 million class 17-B2 certificates "BBB."
 Credit enhancement for the senior certificates reflects 7.75% of subordination provided by classes 17-M and 17-B1 through 17-B5 (collectively the junior certificates). Credit enhancement for the "AA" rated class 17-M certificates is evidenced by the 4.25% class 17-B certificates. Credit enhancement for the "A" rated class 17-B1 certificates is provided by the 2.50% 17-B2 through 17-B5 certificates, and credit support for the "BBB" rated 17-B2 certificates is evidenced by the 1.25% privately placed 17-B3 through 17-B5 certificates. Fitch believes the credit enhancement 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, the quality of the underlying collateral, and the servicing capabilities of GECMSI as master servicer.
 The certificates are collateralized by a pool of 20- and 30-year, fixed-rate, recently originated, conventional, fully amortizing, mortgage loans secured by first liens on one- to four-family residential properties. The weighted average original loan-to-value ratio (LTV) for the mortgage pool is approximately 74%. Other features of the pool include limited documentation loans representing approximately 4%, cash-out refinance loans 6%, and jumbo loans (balances between $300,001- $600,000) 45%. The mortgage pool is well diversified geographically with the top three concentrations located in California (37%), Maryland (9%), and Virginia (8%).
 GECSMI, 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 real estate mortgage investment conduit (REMIC) elections will be made with respect to the trust fund for federal income tax purposes.
 -0- 11/30/93
 /CONTACT: Joanne M. Scatassa, 212-908-0671, or Betty Tan, 212-908-0688, both of Fitch/


CO: GE Capital Mortgage Services, Inc. ST: IN: FIN SU: RTG

TW -- NY097 -- 8865 11/30/93 15:50 EST
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Date:Nov 30, 1993
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