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PAINEWEBBER MORTGAGE ACCEPTANCE CORP. IV SERIES 1993-6 CLASSES A&R RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, July 28 /PRNewswire/ -- PaineWebber Mortgage Acceptance Corp. IV's (PWMAC) $205.4 million mortgage pass-through certificates, series 1993-6, classes A and R are rated `AAA' by Fitch.
 The `AAA' rating on the class A and R certificates reflects the credit enhancement provided by the 3.75 percent subordinated class B certificates; Fitch believes this level is sufficient to cover credit losses, including special hazard, fraud, and bankruptcy, initially limited to $5,669,374, $2,129,986, and $50,000. In addition, Fitch's ratings reflect the integrity of the legal and financial structure and the master servicing capabilities of Countrywide Funding Corp.
 The mortgage pool consists of conventional, fixed-rate, fully amortizing, 15-year mortgage loans secured by one-to-four family residential properties located primarily in California (72 percent, of which 28 percent is concentrated in the Los Angeles area and 19 percent originates from the San Francisco region). The weighted average original loan-to-value ratio for the mortgage pool is low at 64 percent, and only 3 percent of the loans have LTVs greater than 80 percent. Approximately 18 percent of the pool is composed of condominiums, attached planned unit developments (PUDs), or townhomes, while 59 percent contains loans with balances greater than $300,000. The pool also includes approximately 6 percent alternative documentation loans and 11 percent cash-out refinance loans.
 All of the mortgage loans were originated by or on behalf of Countrywide Funding Corp. The loans were acquired by PWMAC from an affiliate, PaineWebber Real Estate Securities, Inc., which in turn acquired the loans from the aforementioned seller. A real estate investment conduit election will be made with respect to the trust for federal income tax purposes.
 -0- 7/28/93
 /CONTACT: Suzanne L. Michaud, 212-908-0604 or Jill M. Guido, 212-908-0682, both of Fitch/
 (PWJ)


CO: PaineWebber Mortgage Acceptance Corp. IV ST: IN: FIN SU: RTG

WB-MG -- NY109 -- 6901 07/28/93 16:16 EDT
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Publication:PR Newswire
Date:Jul 28, 1993
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