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PAINEWEBBER MORTGAGE ACCEPTANCE IV SERIES 1993-4 CLASSES A&R RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, May 26 /PRNewswire/ -- PaineWebber Mortgage Acceptance Corp. IV's (PWMAC) $196.1 million mortgage pass-through certificates, series 1993-4 classes A and R are rated `AAA' by Fitch. The $4 million class M-1 certificates are rated `AA' and the $6 million class M-2 `BBB'.
 The `AAA' rating on classes A and R reflects the credit enhancement provided by the 2.00 percent subordinated class M-1 certificates, the 3.00 percent subordinated class M-2 certificates and the 1.50 percent subordinate class B certificates. The `AA' rating on the class M-1 certificates reflects credit support provided by the 3.00 percent subordinated class M-2 certificates and the 1.50 percent subordinated class B certificates. The `BBB' rating on the class M-2 certificates reflects the credit support provided by the 1.50 percent subordinated class B certificates. Fitch believes these credit enhancement levels will be sufficient to cover credit losses including special hazard, fraud, and bankruptcy, initially limited to $3,797,096, $3,985,468, and $445,791. In addition, Fitch's ratings reflect the integrity of the legal and financial structures and the master servicing capabilities of Ryland Mortgage Co.
 The mortgage pool consists of conventional, fixed-rate, fully amortizing 30-year mortgage loans secured primarily by one-to-four family residential properties located primarily in Northern and Southern California (19 percent and 32 percent, respectively) and in the Northeast (21 percent). The weighted average original loan-to-value ratio (LTV) for the mortgage pool is 71 percent, and 14 percent of the loans have LTVs greater than 80 percent. Approximately 10 percent of the pool is composed of condominiums, attached planned unit developments or townhomes, while 44 percent of the pool contains jumbo loans with balances greater than $300,000. The pool also includes approximately 7 percent limited documentation loans and 10 percent cash-out refinance loans.
 The mortgage loans were originated by or on behalf of Countrywide (74 percent), Anchor (9 percent), GMAC (8.5 percent), American Residential (8 percent) and First Chicago (0.5 percent). The loans were acquired by PWMAC from an affiliate, PaineWebber Real Estate Securities, Inc., which in turn acquired the loans from the aforementioned sellers. A real estate investment conduit election will be made with respect to the trust for federal income tax purposes.
 -0- 5/26/93
 /CONTACT: Jill M. Guido, 212-908-0682 or Suzanne L. Michaud, 212-908-0604, both of Fitch/
 (PWJ)


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

SM -- NY017 -- 2359 05/26/93 10:08 EDT
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Date:May 26, 1993
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