Printer Friendly

RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S19 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --

 RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S19
 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
 NEW YORK, June 25 /PRNewswire/ -- Residential Funding Mortgage Securities I, Inc.'s $300.9 million mortgage pass-through certificates, series 1992-S19 class A and class R, are rated 'AAA' and the $6.4 million class M certificates are rated 'AA' by Fitch.
 The 'AAA' rating on the class A and class R senior certificates reflects credit loss protection provided by the 2.0 percent subordinate class M certificates, and the 4.0 percent subordinate class B certificates, which are not rated. The 'AA' rating on the class M certificates reflects the credit support provided by the 4.0 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, 30-year fixed-rate, mortgage loans secured by first liens on one- to four-family residential properties. All mortgage loans were acquired by RFC, mainly from unaffiliated sellers, except for 9.4 percent purchased from GMAC Mortgage Corp. of PA, an RFC affiliate. The weighted average loan-to-value ratio (LTV) for the mortgage pool is a low 66.9 percent. Limited documentation loans account for approximately 22.6 percent of the pool, cash-out refinance loans 22.1 percent, and loans secured by properties located in California 76.2 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, two real estate mortgage investment conduit elections will be made with respect to the trust fund.
 -0- 6/25/92
 /CONTACT: Joanne M. Scatassa, 212-908-0671 or Mary Sue Lundy, 212-908-0526, both of Fitch/ CO: Residential Funding Mortgage Securities I Inc. ST: IN: FIN SU: RTG


LR -- NY059 -- 3881 06/25/92 14:59 EDT
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:Jun 25, 1992
Words:327
Previous Article:SOUTHFIELD ART GALLERY EXPANDS; PARK WEST OPENS NEW FACILITY IN HARBOR SPRINGS, MICH., FRIDAY, JUNE 26
Next Article:RALLY'S POSTPONES COMMON STOCK OFFERING
Topics:


Related Articles
RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S3 RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
SEARS MORTGAGE SECURITIES SERIES 1992-1 RATED BY FITCH -- FITCH FINANCIAL WIRE --
BEAR STEARNS MORTGAGE CERTIFICATES 1992-1 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
PRUDENTIAL HOME MORTGAGE SECURITIES SERIES 1992-13 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
PRUDENTIAL HOME MORTGAGE CERTIFICATE 1992-17 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
BEAR STEARNS MORTGAGE CERTIFICATES 1992-2 RATED 'AAA/AA' BY FITCH
SEARS MORTGAGE SECURITIES CORP. SERIES 1992-9 RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
FBS MORTGAGE CORP. CERTIFICATES SERIES 1992-B RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --
RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S33 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --
RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S38 RATED 'AAA/AA' BY FITCH -- FINANCIAL WIRE --

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