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RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S2 4 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --

 RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S2 4 RATED 'AAA/AA'
 BY FITCH -- FITCH FINANCIAL WIRE --
 NEW YORK, July 30 /PRNewswire/ -- Residential Funding Mortgage Securities I, Inc.'s $400.2 million mortgage pass-through certificates, series 1992-S24 class A and class R, are rated 'AAA' by Fitch. The $9.7 million class M certificates are rated 'AA'.
 The 'AAA' rating on the class A and class R senior certificates reflects credit loss protection provided by the 2.25 percent subordinate class M certificates and the 5.00 percent subordinate class B certificates, which are not rated. 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 structure, 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 9.5 percent purchased from GMAC Mortgage Corp. of PA, an RFC affiliate. The weighted average loan-to-value ratio for the mortgage pool is 70.9 percent. Limited documentation loans account for approximately 18.6 percent of the pool, cash-out refinance loans, 17.5 percent, and loans secured by properties located in California, 64.0 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- 7/30/92
 /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: New York IN: FIN SU: RTG


PS -- NY089 -- 5206 07/30/92 15:09 EDT
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Publication:PR Newswire
Date:Jul 30, 1992
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