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PRUDENTIAL HOME MTGE CERTS 1993-45 'AAA/AA' BY FITCH

 NEW YORK, Oct. 28 /PRNewswire/ -- The Prudential Home Mortgage Securities Co., Inc.'s (PHMSC) $273.5 million mortgage pass-through certificates, series 1993-45, class A are rated 'AAA' by Fitch. The $5.0 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 2.5 percent unrated subordinate class B certificates. The 'AA' rating on the class M certificates reflects credit support provided by the 2.5 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. 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 primarily by one- to four- family residential properties located predominantly in California (47 percent), with 20 percent and 12 percent in the Los Angeles and San Francisco areas, respectively. The weighted average original loan-to- value ratio for the mortgage pool is a low 66 percent. The pool contains approximately 38 percent alternative documentation loans, 20 percent cash-out refinance loans, 36 percent jumbo loans (balances between $300,001 and $600,000), and 8 percent super jumbo loans (balances between $600,001 and $1,000,000). 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- 10/28/93
 /CONTACT: Suzanne L. Michaud, 212-908-0604, or Joanne M. Scatassa, 212-908-0671, both of Fitch Investors/


CO: Prudential Home Mortgage Securities Co. ST: New York IN: SU:

LH-TM -- SF016 -- 8238 10/28/93 18:47 EDT
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Publication:PR Newswire
Date:Oct 28, 1993
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