Printer Friendly

HOUSING SECURITIES INC. MORTGAGE CERTIFICATES 1992-NATIONSBANK-1 RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 HOUSING SECURITIES INC. MORTGAGE CERTIFICATES 1992-NATIONSBANK-1
 RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
 NEW YORK, Aug. 31 /PRNewswire/ -- Housing Securities, Inc., (HSI) $103.3 million mortgage pass-through certificates, series 1992- NationsBank-1 is rated 'AAA' by Fitch.
 The ratings reflect the sufficiency of the credit and fraud loss coverage provided by the 6 percent mortgage pool insurance policy issued by PMI Mortgage Insurance Co. (PMI), as well as a $2.4 million special hazard insurance policy, and a $100,000 bankruptcy bond, both issued by Commerce and Industry Insurance Company (C&I). Fitch believes this credit enhancement, combined with the sound legal and financial structures and the strength of the servicer, NationsBanc Mortgage Corp., more than adequately support the ratings on the certificates.
 The issue is collateralized by an aggregate mortgage pool consisting of fully amortizing, 10- to 15-year, fixed rate, conventional first mortgage loans secured by one- to four-family, residential properties. The pool has a relatively low weighted average original loan-to-value (LTV) ratio of approximately 68.0 percent; 21.0 percent of the loans are secured by condominiums, attached planned unit developments or townhomes; 13.7 percent of the pool represents cash-out refinance loans; 49.6 percent of the pool consists of jumbo loans (loans with balances between $300,001 - $600,000); and loans secured by properties located in Texas represent 27.5 percent.
 All of the mortgage loans were originated or purchased by NationsBanc Mortgage Corp., as seller, and will be sold to Housing Securities, Inc., a wholly-owned special purpose subsidiary of Citicorp. Housing Securities, Inc., will deposit the mortgage loans in the trust which, in turn, will issue the certificates. Two real estate mortgage investment conduit elections will be made with respect to the trust fund for federal income tax purposes.
 -0- 8/31/92
 /CONTACT: Alexander K. Zabik, 212-908-0634 or, Betty Tan, 212-908-0688, both of Fitch/ CO: Housing Securities, Inc. ST: IN: FIN SU: RTG


LR -- NY045 -- 4932 08/31/92 11:43 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 31, 1992
Words:327
Previous Article:VICKI SATO TO HEAD RESEARCH AT VERTEX PHARMACEUTICALS
Next Article:AT&T APPOINTS NEW CEO AT AMERICAN TRANSTECH
Topics:


Related Articles
SEARS MORTGAGE SECURITIES SERIES 1992-3 SENIOR CERTIFICATES 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
RESOLUTION TRUST SERIES 1992-5 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
SEARS MORTGAGE SECURITIES SERIES 1992-7 RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S28 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
PMI-INSURED 'AAA' MORTGAGE ISSUES PLACED ON FITCHALERT NEGATIVE -- FITCH FINANCIAL WIRE --
PMI-INSURED "SUPER-SENIOR" MORTGAGE DEBT AFFIRMED, OFF FITCHALERT -- FITCH FINANCIAL WIRE --
FBS MORTGAGE CORP. CERTIFICATES SERIES 1992-E RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S9 CLASS M RAISED TO 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
MLCC MORTGAGE INVESTORS SERIES 1994B RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
Residential Funding Mortgage P-T Certificates 1998-S22 Rated By Fitch IBCA - Fitch IBCA -.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters