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RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1993-S12 RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, March 30 /PRNewswire/ -- Residential Funding Mortgage Securities I, Inc.'s (RFMSI) $275.9 million mortgage pass-through certificates, series 1993-S12 classes A and R, are rated "AAA" by Fitch.
 The credit enhancement for the "AAA" class A and R senior certificate reflects subordination of the unrated 2.75 percent class M-1, 1.25 percent class M-2, 0.75 percent class M-3, and 2.0 percent class B certificates. Fitch believes the subordination amounts will be adequate to cover mortgagor defaults as well as limited bankruptcy, fraud and special hazard losses. In addition, the ratings reflect the quality of the mortgage collateral, strength of the legal and financial structures, and Residential Funding Corp.'s (RFC) servicing capabilities as master servicer.
 The issue is securitized by a mortgage pool consisting of recently originated, conventional, fully amortizing, 30-year fixed-rate, mortgage loans secured by first liens on one- to four-family residential properties. The mortgage pool demonstrates a weighted average original loan-to-value ratio (LTV) of approximately 71 percent. Loans originated under a limited documentation program account for approximately 14 percent of the pool, cash-out refinance loans 18 percent, jumbo loans 42 percent (balances between $300,001--$600,000), and super jumbo loans 8.0 percent (balances between $600,001-$1,000,000). The mortgage properties are located primarily in California, with 17 percent and 32 percent in Northern and Southern California, respectively.
 With the exception of 8.8 percent purchased from GMAC Mortgage Corp. of Pennsylvania, an RFC affiliate, all of the mortgage loans were purchased by RFC from unaffiliated sellers. RFMSI, a special purpose corporation, deposited the loans in the trust, which issued the certificates. Two separate real estate mortgage investment conduit (REMIC) elections will be made with respect to the trust fund for federal income tax purposes.
 -0- 3/30/93
 /CONTACT: Joanne M. Scatassa, 212-908-0671 or Betty Tan, 212-908-0688, both of Fitch/


CO: Residential Funding Mortgage Securities I, Inc. ST: California IN: FIN SU: RTG

TS -- NY062 -- 1089 03/30/93 13:30 EST
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Date:Mar 30, 1993
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