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PRUDENTIAL SECURITIES FINANCING CORP. SERIES 1993-2 RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, April 8 /PRNewswire/ -- Prudential Securities Secured Financing Corp.'s mortgage pass-through certificates, series 1993-2, $218.8 million class A are rated 'AAA' by Fitch. The $24.3 million class M certificates are rated 'AA+'. The ratings are based on the quality of the mortgage collateral, adequacy of credit support, integrity of the legal and financial structures, and master servicing capabilities of Ryland Mortgage Co. The class A certificates 'AAA' rating is based on the credit loss protection provided by the 10 percent subordinate class M certificates and 9 percent GEMICO mortgage pool insurance policy. The 'AA+' rating on the class M certificates reflects the credit support provided by the GEMICO pool policy.
 Non-credit loss coverage due to special hazards will be provided by a special hazard insurance policy issued by Aetna Casualty and Surety Co. and a reserve fund will be established for bankruptcy losses. The GEMICO pool policy contains a fraud waiver letter which covers losses due to borrower fraud up to specified amounts.
 The mortgage pool consists primarily of 30-year, recent origination, conventional, adjustable-rate, one- to four-family residential mortgage loans. The loans adjust annually to the one-year Constant Maturity Treasury Index, and are subject to periodic and lifetime interest rate adjustment caps. Approximately 24 percent of the pool consists of cash out refinance loans, 25 percent were underwritten under a limited documentation program, and 43 percent have balances greater than $300,000. The weighted average original loan-to-value (LTV) ratio is 71 percent and all loans with LTVs greater than 80 percent have primary mortgage insurance. The loans are located in Northern California (9 percent), Southern California (20 percent), New York (15 percent) and Connecticut (10 percent).
 The mortgage loans were originated (or acquired) and serviced by America's Lending Network (17 percent), Countrywide Funding Corp. (41 percent) and Arbor National Mortgage Inc.(42 percent) and master serviced by Ryland Mortgage Co. The mortgage loans were sold to Franklin Federal Bancorp., acquired by Prudential Securities Secured Financing Corp. and deposited in the trust for the benefit of the certificateholders.
 The assets of the trust fund will be classified as a grantor trust for federal income tax purposes. The beneficial owners of the certificates will be treated as the beneficial owners of undivided interests in all principal and interest payments with respect to the trust fund.
 -0- 04/08/93
 /CONTACT: Michele J. Loesch, 212-908-0686, or Alexander K. Zabik, 212-908-0634, both of Fitch/


CO: Prudential Securities Secured Financing Corp. ST: IN: FIN SU: RTG

AH -- NY034 -- 4188 04/08/93 11:25 EDT
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Date:Apr 8, 1993
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