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PRUDENTIAL HOME MORTGAGE CERTIFICATES 1993-59 CLASS A/M RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Nov. 16 /PRNewswire/ -- The Prudential Home Mortgage Securities Co., Inc.'s (PHMSC) $162.5 million mortgage pass-through certificates, series 1993-59 class A, are rated "AAA" by Fitch and the $3.0 million class M certificates are rated "AA."
 The "AAA" rating on the class A senior certificates reflects the credit enhancement provided by the 1.75 percent subordinate class M certificates and the 5.50 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 5.50 percent unrated subordinate class B certificates. 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, five- to seven-year mortgage loans (44 percent and 58 percent, respectively) secured by one- to four-family residential properties located primarily in California (65 percent).
 Because a refinancing risk exists at maturity for balloon payment mortgage loans, Fitch assumes a higher level of defaults. However, the increased potential for defaults and losses is somewhat mitigated by the relatively low weighted average original loan-to-value ratio (LTV) of approximately 70 percent, as well as the fact that virtually all of the loans are secured by owner-occupied properties. In addition, the pool contains approximately 32 percent alternative documentation loans and 19 percent cash-out refinance loans.
 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- 11/16/93
 /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

TW -- NY051 -- 5047 11/16/93 11:44 EST
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Date:Nov 16, 1993
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