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PRUDENTIAL HOME MORTGAGE CERTIFICATES 1992-19 RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --

 PRUDENTIAL HOME MORTGAGE CERTIFICATES 1992-19 RATED 'AA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, July 15 /PRNewswire/ -- The Prudential Home Mortgage Securities Co., Inc.'s (PHMSC) $285.8 million adjustable-rate mortgage pass-through certificates series 1992-19 class A-1 and class A-2 are rated "AA" by Fitch. Only the class A-1 is being offered at this time. The rating reflects credit loss protection provided by the 7.0 percent subordinate class B certificates, which are not rated, as well as the high quality of the mortgage collateral, the strength of the legal and financial structure, and the servicing capabilities of The Prudential Home Mortgage Co., Inc. (PHMC).
 The certificates are collateralized by a pool of approximately 1,087 30-year original-term, annual adjustable-rate mortgage loans secured by first liens on one- to four-family residential properties, indexed to the one-year Constant Maturity Treasury Index. The weighted average original loan-to-value ratio for the mortgage pool is 74.3 percent. Alternative documentation loans account for approximately 35.3 percent, while cash-out refinance loans account for 8.7 percent. The pool is well diversified geographically, with approximately 48.3 percent of the loans in California.
 The pass-through rate for the class A-1 certificates will be an annual rate equal to the weighted average of the net mortgage interest rates on each mortgage loan. For the first distribution date, the pass-through rate will equal approximately 5.769 percent per annum.
 The mortgage loans were originated or acquired by PHMC, and in turn, sold to PHMSC. PHMSC, 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- 7/15/92
 /CONTACT: Joanne M. Scatassa, 212-908-0671, or Mary Sue Lundy, 212-908-0526, both of Fitch/ CO: Prudential Home Mortgage Securities Co. Inc. ST: IN: FIN SU: RTG


TS -- NY062 -- 9558 07/15/92 12:47 EDT
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Publication:PR Newswire
Date:Jul 15, 1992
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