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PRUDENTIAL HOME MORTGAGE CERTIFICATES 1992-21 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --

PRUDENTIAL HOME MORTGAGE CERTIFICATES 1992-21 RATED 'AAA/AA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, July 22 /PRNewswire/ -- The Prudential Home Mortgage Securities Co., Inc.'s (PHMSC) $303.4 million mortgage pass-through certificates series 1992-21 Class A are rated "AAA" and the $5.6 million Class M certificates are rated "AA" by Fitch.
 The "AAA" rating on the Class A senior certificates reflects the credit loss protection provided by the 1.75 percent subordinate Class M certificates and the 3.75 percent subordinate Class B certificates, which are not rated. The "AA" rating on the Class M certificates reflects credit support provided by the 3.75 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 the Prudential Home Mortgage Co., Inc. (PHMC).
 The mortgage pool consists of conventional, fully-amortizing, 15-year, fixed-rate mortgage loans secured by one- to four-family residential properties. The weighted average original loan-to-value (LTV) for the mortgage pool is a low 65.4 percent. Alternative documentation loans account for approximately 32.1 percent, cash-out refinance loans 17.1 percent, and loans secured by properties located in California 47.5 percent. These pool characteristics, specifically the low LTV, contribute to the low credit enhancement level.
 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- 7/22/92
 /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


GK -- NY081 -- 1968 07/22/92 13:37 EDT
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Date:Jul 22, 1992
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