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PRUDENTIAL HOME $437.9 MIL MTGE CTFS 1993-29 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, July 28 /PRNewswire/ -- The Prudential Home Mortgage Securities Co., Inc.'s (PHMSC) $430.0 million mortgage pass-through certificates, series 1993-29, class A are rated `AAA' by Fitch. The issuer's $7.9 million class M certificates are rated `AA'.
 The `AAA' rating on the class A senior certificates reflects the credit enhancement provided by the 1.75 percent subordinate class M certificates and the 2.75 percent unrated subordinate class B certificates. Fitch believes these amounts of credit enhancement will be sufficient to cover credit losses including limited bankruptcy, fraud, and special hazard losses. The `AA' rating on the class M certificates reflects credit support provided by the 2.75 percent unrated subordinate Class B certificates. In addition, both ratings also reflect the high quality of the underlying collateral, integrity of the legal and financial structures, and servicing capabilities of The Prudential Home Mortgage Co., Inc. (PHMC).
 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 and the Northeast. The weighted average original loan-to-value ratio (LTV) for the mortgage pool is low at approximately 67 percent, and only about 4 percent of the loans have original LTVs greater than 80 percent. The pool contains approximately 36 percent alternative documentation loans, 21 percent cash-out refinance loans, 47 percent jumbo (balances of $300,001-$600,000), and 7 percent super jumbo loans (balances of $600,001-$1 million). The low LTV, coupled with the 15-year collateral, are the primary reasons for the low credit enhancement level on the pool.
 The mortgage loans were originated or acquired by PHMC, and in turn sold to PHMSC. PHMSC, a special purpose corporation, deposited the loans into the trust, which then issued the certificates. PHMC will act as servicer for the pool. For federal income tax purposes, two real estate mortgage investment conduit elections will be made with respect to the trust fund.
 -0- 7/28/93
 /CONTACT: Suzanne L. Michaud, 212-908-0604, or Joanne M. Scatassa, 212-908-0671, both of Fitch/


CO: Prudential Home Mortgage Securities Co., Inc. ST: IN: FIN SU: RTG

MP -- NY108 -- 6888 07/28/93 16:01 EDT
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Publication:PR Newswire
Date:Jul 28, 1993
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