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RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S14 RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --

RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S14 RATED 'AA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, April 29 /PRNewswire/ -- Residential Funding Mortgage Securities I, Inc.'s $87.0 million mortgage pass-through certificates, series 1992-S14 Class A, S and R (the senior certificates) are rated 'AA' by Fitch.
 The rating reflects credit loss protection provided by the 7.0 percent unrated subordinate class B certificates, as well as 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 pool consists of conventional, fully amortizing, adjustable- rate, 30-year mortgage loans secured by first liens on one- to four- family residential properties. The mortgage loans were originated or acquired by RFC, mainly from its unaffiliated seller/servicers, and have recently been repurchased by RFC after being privately sold in 1989. Both rate and payment of each mortgage loan adjusts semi-annually to reflect the daily bank prime loan rate plus a margin.
 The weighted average original loan-to-value ratio for the mortgage pool is 74.8 percent. Limited documentation loans account for approximately 58.6 percent of the pool, cash-out refinance loans represent 22.8 percent, and loans secured by properties located in California represent 72.9 percent. The mortgage loans are seasoned approximately 30 months. As of the cutoff date, five mortgage loans were 30 days delinquent. In addition, 34 percent of the mortgage pool consists of mortgage loans that are convertible from adjustable-rate to fixed-rate mortgage loans. The first month in which any of the mortgage loans may convert was July 1, 1989 and the last month in which any of the mortgage loans may convert is Oct. 1, 1996.
 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 real estate mortgage investment conduit election will be made with respect to the trust fund.
 -0- 4/29/92
 /CONTACT: Mary Sue Lundy, 212-908-0526, or Joanne M. Scatassa, 212-908-0500, both of Fitch/ CO: Residential Funding Mortgage Securities I Inc. ST: New York IN: FIN SU: RTG


KD -- NY076 -- 4528 04/29/92 15:45 EDT
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Date:Apr 29, 1992
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