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PRUDENTIAL HOME MORTGAGE CERTIFICATES 1993-35 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Aug. 30 /PRNewswire/ -- The Prudential Home Mortgage Securities Co., Inc.'s (PHMSC) $286.6 million mortgage pass-through certificates, series 1993-35, class A are rated 'AAA' by Fitch. The issuer's $4.5 million class M certificates are rated 'AA'.
 The 'AAA' rating on the class A senior certificates reflects the credit enhancement provided by the 1.5 percent subordinate class M certificates and the 3.0 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 3.0 percent unrated subordinate class B certificates. In addition, both ratings also reflect the high quality of the underlying collateral, the integrity of the legal and financial structures and the 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 LTV's greater than 80 percent. The pool contains approximately 45 percent alternative documentation loans, 20n percent cash-out refinance loans, and 50 percent of the mortgage loans have balances greater than $300,000. 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, a real estate mortgage investment conduit election will be made with respect to the trust fund.
 -0- 8/30/93
 /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

PS -- NY053 -- 7098 08/30/93 12:50 EDT
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Publication:PR Newswire
Date:Aug 30, 1993
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