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PRUDENTIAL HOME MORTGAGE CERTIFICATES 1993-47 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Nov. 29 /PRNewswire/ -- The Prudential Home Mortgage Securities Co., Inc.'s (PHMSC) $844.2 million mortgage pass-through certificates, series 1993-47, class A are rated "AAA" by Fitch. The $2.3 million class M certificates are rated "AA."
 The "AAA" rating on the class A senior certificates reflects the credit enhancement provided by the 0.25 percent class M and 6 percent class B subordinate certificates. Credit enhancement for the "AA" Class M certificates is provided by the 6 percent class B certificates. Fitch believes these levels of credit enhancement will be sufficient to cover each class' credit losses, including limited bankruptcy, fraud, and special hazard losses. In addition, the rating also reflects 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 recently originated, conventional, 30-year, fixed-rate, mortgage loans secured by one- to four-family residential properties located primarily in California (73 percent). The weighted average original loan-to-value ratio (LTV) of the pool is approximately 72 percent. In addition, the pool contains approximately 28 percent alternative documentation loans, 13 percent cash-out refinance loans, 45 percent jumbo loans (balances between $300,001- $600,000), and 3 percent super jumbo loans (balances between $600,001- $1 million).
 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- 11/29/93
 /CONTACT: Suzanne L. Michaud of Fitch, 212-908-0604/


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

TW -- NY081 -- 8430 11/29/93 16:33 EST
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Publication:PR Newswire
Date:Nov 29, 1993
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