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RESIDENTIAL FUNDING $87.8 MILLION MORTGAGE CERTIFICATES 1993-S19 RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, May 27 /PRNewswire/ -- Residential Funding Mortgage Securities I, Inc.'s (RFMSI) $87.8 million mortgage pass-through certificates, series 1993-S19 classes A and S, are rated `AAA'.
 The `AAA' rating reflects credit loss coverage provided by an 8.75 percent mortgage pool insurance policy issued by PMI Mortgage Insurance Co., which contains a fraud waiver covering losses due to borrower fraud up to a specified amount. A $2.1 million special hazard insurance policy and a $149,807 bankruptcy bond, each issued by Commerce and Industry Insurance Co., will cover special hazard and borrower bankruptcy losses, respectively. Fitch's rating also reflects 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 pool consists of fully amortizing 30-year adjustable-rate mortgage (ARM) loans secured by first liens on one- to four-family residential properties. The mortgage loans have interest rates that are fixed for the first five years and thereafter adjust annually to the one-year constant maturity treasury (CMT) index. To determine the credit enhancement level, Fitch assumed a higher default rate compared to a 30-year fixed-rate product but a lower default rate for an annual adjusting one-year CMT index product.
 The pool has a weighted average original loan-to-value ratio (LTV) of 71 percent. Limited documentation loans account for approximately 22 percent of the pool; cash-out refinance loans 16 percent; jumbo loans 46 percent (balances between $300,001-$600,000); and super jumbo loans 11 percent (balances between $600,001-$1,000,000). The mortgaged properties are primarily located in Southern (60 percent) and Northern (19 percent) California.
 With the exception of 9.4 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. The trust fund will be classified as a grantor trust for federal income tax purposes.
 -0- 5/27/93
 /CONTACT: Joanne M. Scatassa, 212-908-0671 or Betty Tan, 212-908-0688, both of Fitch/


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

SM -- NY100 -- 3183 05/27/93 17:51 EDT
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Date:May 27, 1993
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