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RESIDENTIAL FUNDING MORTGAGE CERTIFICATES 1993-S14 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, April 29 /PRNewswire/ -- Residential Funding Mortgage Securities I, Inc.'s (RFMSI) $450.0 million mortgage pass-through certificates, series 1993-S14 classes A and R, are rated 'AAA'.
 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 72 percent. Loans originated under a limited documentation program account for approximately 18 percent of the pool; cash-out refinance loans 20 percent; jumbo loans 45 percent (balances between $300,001--$600,000); and super jumbo loans 9.0 percent (balances between $600,001-$1,000,000). The mortgage properties are located primarily in California, with 19 percent and 31 percent in Northern and Southern California, respectively.
 With the exception of 2.1 percent purchased from GMAC Mortgage Corp. of PA, an RFC affiliate, all mortgage loans were purchased by RFC from unaffiliated sellers. RFMSI, a special-purpose corporation, deposited the loans in the trust, which issued the certificates. A separate real estate mortgage investment conduit (REMIC) election will be made with respect to the trust fund for federal income tax purposes.
 -0- 4/29/93
 /CONTACT: John V. Rosa, 212-908-0608, or Betty Tan, 212-908-0688, both of Fitch/


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

LR -- NY108 -- 2827 04/29/93 15:54 EDT
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Date:Apr 29, 1993
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