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PAINEWEBBER MTGE ACCPT CORP IV 1993-9 CLS A&R 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Oct. 29 /PRNewswire/ -- PaineWebber Mortgage Acceptance Corp. IV's (PWMAC) $373.2 million mortgage pass-through certificates, series 1993-9, classes A and R are rated "AAA" by Fitch. In addition, the issuer's $9.0 million class M-1 certificates are rated "AA," $6.0 million class M-2 certificates "A+," and $5.0 million class M-3 certificates "BBB+."
 The "AAA" rating on the class A and R certificates reflects the credit enhancement provided by the 2.25 percent subordinated class M-1, 1.50 percent subordinated class M-2, 1.25 percent class M-3 certificates, and 1.50 percent subordinated class B certificates. Fitch believes these levels are sufficient to cover credit losses, including special hazard, fraud, and bankruptcy, initially limited to $6,599,443, $7,983,600, and $80,075. In addition, Fitch's ratings reflect the integrity of the legal and financial structure and the master servicing capabilities of Ryland Mortgage Co. (servicing 47.25 percent of the mortgage loans) and Capstead Mortgage Corp. (52.75 percent).
 The mortgage pool consists of conventional, fixed-rate, fully amortizing, 30-year mortgage loans secured by one- to four-family residential properties. The weighted average original loan-to-value ratio (LTV) for the mortgage pool is 72 percent. The pool is well diversified geographically, with 50 percent of the mortgage loans concentrated in California, 9 percent in New York, 6 percent in New Jersey, and 5 percent in Virginia. Approximately 10 percent of the pool is composed of condominiums, attached planned unit developments (PUDs), or townhomes, while 54 percent of the pool contains loans with balances greater than $300,000. The pool also includes approximately 14 percent alternative documentation loans and 17 percent cash-out refinance loans.
 The mortgage loans were originated by or on behalf of CMF Investment Partnership (52 percent), GE Capital Mortgage Services of California (18 percent), Arcs Mortgage, Inc. (17 percent), Anchor Mortgage Services, Inc. (6 percent), Countrywide Funding Corp. (4 percent), and Norwest Mortgage, Inc. (3 percent). The loans were acquired by PWMAC from an affiliate, PaineWebber Real Estate Securities, Inc., which in turn acquired the loans from the aforementioned seller. Two real estate investment conduit elections will be made with respect to the trust for federal income tax purposes.
 -0- 10/29/93
 /CONTACT: Suzanne L. Michaud, 212-908-0604 or Jill M. Guido, 212-908-0682/
 (PWJ)


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

LG -- NY048 -- 8489 10/29/93 11:57 EDT
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Date:Oct 29, 1993
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