Printer Friendly

RESIDENTIAL FUNDING MORTGAGE 1992-S6 SENIOR CERTIFICATES RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

RESIDENTIAL FUNDING MORTGAGE 1992-S6 SENIOR CERTIFICATES RATED 'AAA' BY
                    FITCH -- FITCH FINANCIAL WIRE --
    NEW YORK, Feb. 27 /PRNewswire/ -- Residential Funding Mortgage Securities I, Inc.'s $426.2 million Mortgage Pass-Through Certificates, Series 1992-S6 Class A and Class R are rated "AAA" by Fitch; the $10.3 million Class M certificates are rated "AA."
    The "AAA" rating on the Class A and Class R certificates (senior certificates) reflects credit loss protection provided by the 5.00 percent subordinate Class B certificates and 2.25 percent subordinate Class M certificates. The "AA" rating on the Class M certificates reflects the credit support provided by the 5.00 percent subordinate Class B certificates. Both ratings also reflect the high quality of the mortgage collateral, the strength of the legal and financial structures, and the master servicing capabilities of Residential Funding Corp. (RFC).
    The mortgage pool consists of recently originated, conventional, fully amortizing fixed-rate 30-year mortgage loans secured by first liens on one- to four-family residential properties. All mortgage loans were originated or acquired by RFC, mainly from its unaffiliated seller/servicers, except for 6.7 percent purchased from GMAC Mortgage Corp. of Pa. (an affiliate). The weighted average loan-to-value ratio (LTV) for the mortgage pool is 69.5 percent. Limited documentation loans account for approximately 28.4 percent of the pool, cash-out refinance loans represent 26.5 percent, and loans secured by properties located in California represent 69.5 percent.
    Residential Funding Mortgage Securities I, Inc., a special purpose corporation, deposited the loans in the trust which issued the certificates. RFC will act as master servicer for the pool. For federal income tax purposes, a REMIC election will be made with respect to the trust fund.
    -0-         2/27/92
    /CONTACT:  Louis A. Colosimo, 212-908-0567, or Michele Loesch, 212-908-0500, both of Fitch/ CO:  Residential Funding Mortgage Securities I, Inc. ST: IN:  FIN SU:  RTG SH -- NY066 -- 3331 02/27/92 14:12 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 27, 1992
Words:320
Previous Article:SELVAC ACQUIRES VIDEO KNIGHTS; REPORTS RESULTS
Next Article:3M ANNOUNCES PRE-RETIREMENT LEAVE POLICY FOR U.S. EMPLOYEES
Topics:


Related Articles
RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1991-S29 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
RESIDENTIAL FUNDING MORTGAGE SECURITIES SERIES 1991-S17, S19 AFFIRMED BY FITCH -- FITCH FINANCIAL WIRE --
RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1991-S30 RATED 'AAA'/'AA' BY FITCH -- FITCH FINANCIAL WIRE --
FLEET MORTGAGE SECURITIES $123.4 MILLION SERIES 1992-1 CERTIFICATES 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S9 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S10 RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S7 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
SEARS MORTGAGE SECURITIES SERIES 1992-6 RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
SEARS MORTGAGE SECURITIES CORP. SERIES 1992-6 RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
Residential Fund $321 Million Pass-Thrus 1997-S6 Rated 'AAA' By Fitch - Fitch Financial Wire -

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters