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RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S5 RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1992-S5 RATED 'AAA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK Feb. 27 /PRNewswire/ -- Residential Funding Mortgage Securities I, Inc.'s $110.7 million mortgage pass-through certificates, Series 1992-S5 classes A, R-I, and R-II are rated 'AAA' by Fitch.
 The 'AAA' rating on the class A, R-I, and R-II certificates (senior certificates) reflects credit loss protection provided by the 5.0 percent subordinate class B certificates, which are not rated. It also reflects 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, 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 12.4 percent purchased from GMC Mortgage Corp. of Pa., an RFC affiliate. The weighted average loan-to-value ratio (LTV) for the mortgage pool is 62.7 percent. Limited documentation loans account for approximately 39.8 percent of the pool, cash-out refinance loans represent 28.1 percent, and loans secured by properties located in California represent 65.4 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- 2/27/92
 /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: IN: FIN SU: RTG SM -- NY061 -- 3308 02/27/92 13:34 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Feb 27, 1992
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