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PMI INSURED 'AAA' MORTGAGE ISSUES REMOVED FROM FITCHALERT -- FITCH FINANCIAL WIRE --

 NEW YORK April 8 /PRNewswire/ -- PMI Mortgage Insurance Co.'s `AAA' claims-paying ability rating is affirmed and removed from FitchAlert where it was placed on Oct. 8, 1992. As a result, Fitch affirms the ratings on all mortgage pass-through certificates rated 'AAA' based on PMI mortgage pool insurance policies which were placed on FitchAlert on Oct. 12, 1992.
 The following `AAA' rated tranches are affirmed and removed from FitchAlert: Housing Securities, Inc.'s $103.3 million Mortgage Pass- Through Certificates, Series 1992-Nationsbank-1; Sears Mortgage Securities Corp.'s (SMSC) $159.4 million Multiclass Mortgage Pass- Through Certificates Series 1992-14, not including class F-1; and SMSC's $7.2 million Adjustable-Rate Mortgage Pass-Through Certificates, Series 1992-17, class M.
 PMI's `AAA' claims paying ability was removed from FitchAlert based on PMI's execution of a new $400 million reinsurance agreement (which provides capital support to PMI under certain conditions) with AXA Re France and Capital Reinsurance Co., superseding the previous agreement with the two reinsurers. In addition, Fitch believes PMI's financial condition continues to be strong.
 -0- 4/8/93
 /CONTACT: Regarding PMI Mortgage Insurance Co., Lygia X. Campbell 212-908-0695; Regarding the individual mortgage transactions, Alexander K. Zabik, 212-908-0634, or Jill M. Guido, 212-908-0682, both of Fitch/


CO: PMI Mortgage Insurance Co. ST: IN: INS SU: RTG

SM -- NY056 -- 0343 04/08/93 14:42 EDT
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Date:Apr 8, 1993
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