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RESIDENTIAL FNDG MTGE CTFS 1993-S26 RATED 'AAA/AA/A/BBB' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Aug. 2 /PRNewswire/ -- Residential Funding Mortgage Securities I, Inc.'s (RFMSI) $350.6 million mortgage pass-through certificates, series 1993-S26 classes A and R, are rated 'AAA'. In addition, the $10.3 million class M-1 certificates are rated 'AA', $5.6 million class M-2 certificates 'A', and $3.8 million class M-3 certificates 'BBB'.
 Credit enhancement for the 'AAA' class A and R senior certificates reflects subordination of the 2.75 percent class M-1, 1.5 percent class M-2, 1.0 percent class M-3, and 1.5 percent class B certificates. Credit enhancement for the 'AA' class M-1 is provided by the 1.5 percent class M-2, 1.0 percent class M-3, and 1.5 percent class B certificates, while the 1.0 percent class M-3 plus 1.5 percent class B certificates supply 'A' coverage for class M-2. Lastly, class M-3 is rated 'BBB' based on the 1.5 percent class B subordination. Fitch believes the above credit enhancement will be adequate to support each class' loss levels including mortgagor defaults as well as limited bankruptcy, fraud and special hazard. In addition, the ratings reflect the quality of the mortgage collateral, strength of the legal and financial structures, and Residential Funding Corp.'s (RFC) servicing capabilities as master servicer.
 The collateral consists of 1,181 recently originated, conventional, fully amortizing, 30-year fixed-rate, mortgage loans secured by first liens on one- to four-family residential properties. The mortgage pool demonstrates a weighted average original loan-to-value ratio (LTV) of 71 percent. Loans originated under a limited loan documentation program account for approximately 21 percent of the pool, cash-out refinance loans 13 percent, and jumbo loans 42 percent (balances between $300,001- $600,000). Approximately 68 percent of the mortgaged properties are located in California, of which 29 percent are located in Los Angeles and 18 percent in San Francisco. With the exception of 6.1 percent purchased from GMAC Mortgage Corp. of PA, an RFC affiliate, all of the mortgage loans were purchased by RFC from unaffiliated sellers.
 RFMSI, a special purpose corporation, deposited the loans in the trust, which issued the certificates. Two separate real estate mortgage investment conduit (REMIC) elections will be made with respect to the trust fund for federal income tax purposes.
 -0- 8/2/93
 /CONTACT: Betty Tan, 212-908-0688, or Joanne M. Scatassa, 212-908-0671, both of Fitch/


CO: Residential Funding Mortgage Securities I, Inc. ST: IN: FIN SU: RTG

TM -- NY108 -- 8499 08/02/93 16:03 EDT
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Date:Aug 2, 1993
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