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RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S3 RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S3 RATED 'AAA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Jan. 29 /PRNewswire/ -- Residential Funding Mortgage Securities I, Inc.'s $167.5 million Mortgage Pass-Through Certificates, Series 1992-S3 Class A and Class R, are rated 'AAA' by Fitch.
 The 'AAA' rating reflects the high quality of the mortgage collateral, the strength of legal and financial structures, and the master servicing capabilities of Residential Funding Corp. (RFC). It also reflects credit loss protection provided by a 5 percent subordinate Class B (not offered).
 The mortgage pool consists of recently originated, conventional, fully amortizing, fixed-rate, 15-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 1.2 percent purchased from GMAC Mortgage Corp. of Pennsylvania, an RFC affiliate. The weighted average loan-to- value ratio (LTV) for the mortgage pool is 68.9 percent. Limited documentation loans account for approximately 35.7 percent of the pool, cash-out refinance loans represent 30.7 percent, and loans secured by properties located in California represent 69.6 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 Real Estate Mortgage Investment Conduit election will be made with respect to the trust fund.
 -0- 1/29/92
 /CONTACT: Joanne M. Scatassa, 212-908-0500, or Mary Sue Lundy, 212-908-0526, both of Fitch/ CO: Residential Funding Mortgage Securities I, Inc. ST: IN: FIN SU: RTG


CK -- NY080 -- 4857 01/29/92 15:34 EST
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Publication:PR Newswire
Date:Jan 29, 1992
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