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PRUDENTIAL HOME MORTGAGE CERTIFICATES 1992-11 RATED 'AAA/AA' BY FITCH --FITCH FINANCIAL WIRE (FFW)--

PRUDENTIAL HOME MORTGAGE CERTIFICATES 1992-11 RATED 'AAA/AA' BY FITCH
 --FITCH FINANCIAL WIRE (FFW)--
 NEW YORK, April 28 /PRNewswire/ -- Prudential Home Mortgage Securities Co., Inc.'s $477.8 million mortgage pass-through certificates series 1992-11 class A are rated 'AAA' and $14.2 million class M are rated 'AA' by Fitch.
 The 'AAA' rating on the class A certificates reflects the credit loss protection provided by the 5.00 percent subordinate class B certificates, which are not rated, and the 2.25 percent subordinate class M certificates. The 'AA' rating on the class M certificates reflects the credit support provided by the 5.00 percent subordinate class B certificates. Both ratings also reflect the high quality of the mortgage collateral, the strength of the legal and financial structures and the servicing capabilities of Prudential Home Mortgage Co., Inc. ("PHMC").
 The mortgage pool consists of recently originated, conventional, fully amortizing, 30-year fixed-rate mortgage loans secured by one-to four-family residential properties. Approximately 64 percent of the pool is secured by properties located in California, with the remainder of the properties located primarily in the Northeast. All mortgage loans were originated or acquired by PHMC, of which 41.0 percent were underwritten under an alternative documentation program. In addition, 20.5 percent of the pool consists of cash-out refinance loans. The weighted average original loan-to-value ratio ("LTV") is a relatively low 69.9 percent.
 Prudential Home Mortgage Securities, Inc., a special purpose corporation, deposited the loans in the trust, which issued the certificates. PHMC will act as servicer for the pool. For federal income tax purposes, a real estate mortgage investment conduit election will be made with respect to the trust fund.
 -0- 4/28/92
 /CONTACT: Mary Sue Lundy, 212-908-0526, or Joanne M. Scatassa, 212-908-0500, both of Fitch/ CO: Prudential Home Mortgage Securities Company Inc. ST: IN: FIN SU: RTG


TQ -- NY080 -- 3809 04/28/92 12:35 EDT
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Publication:PR Newswire
Date:Apr 28, 1992
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