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PRUDENTIAL HOME MORTGAGE CERTIFICATES 1993-5 RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Feb. 12 /PRNewswire/ -- The Prudential Home Mortgage Securities Co., Inc.'s (PHMSC) $302.9 million mortgage pass-through certificates, series 1993-5, class A, are rated "AAA" by Fitch.
 The rating reflects credit loss protection provided by the 6.75 percent subordinate class B certificates, which are not rated. Additional key rating factors are the high quality of the mortgage collateral, strength of the legal and financial structures, and servicing capabilities of The Prudential Home Mortgage Co., Inc. (PHMC).
 The mortgage pool consists of recently originated, conventional, fixed-rate, seven-year balloon payment mortgage loans secured by one- to four-family residential properties located primarily in California (75 percent). Because a refinancing risk exists at maturity for balloon payment mortgage loans, Fitch assumes a higher level of defaults. The pool has a weighted average original loan-to-value ratio of 70 percent, and all but one of the loans are secured by owner-occupied properties. In addition, the pool contains approximately 21 percent cash-out refinance loans and approximately 28 percent alternative documentation loans.
 The mortgage loans were originated or acquired by PHMC and, in turn, sold to The Prudential Home Mortgage Securities Co. PHMSC, a special purpose corporation, deposited the loans in 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- 2/12/93
 /CONTACT: Joanne M. Scatassa, 212-908-0671, or Mary Sue Lundy, 212-908-0526, both of Fitch/


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

TS -- NY039 -- 6220 02/12/93 14:47 EST
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Publication:PR Newswire
Date:Feb 12, 1993
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