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RESOLUTION TRUST CORP. SERIES 1992-2 RATED 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --

     RESOLUTION TRUST CORP. SERIES 1992-2 RATED 'AAA/AA' BY FITCH
                       -- FITCH FINANCIAL WIRE --
    NEW YORK, Jan. 30 /PRNewswire/ -- Resolution Trust Corp.'s Mortgage Pass-Through Certificates, Series 1992-2, $320.2 million classes B-1 through B-3 are rated 'AAA', and $117.4 million class A and class B-4 are rated 'AA' by Fitch. The 'AAA' rating reflects credit enhancement provided by the 14.5 percent reserve fund as well as the additional credit enhancement provided by the class B-4 certificates while the 'AA' rating primarily reflects the reserve fund.
    The ratings also reflect Fitch's confidence in the integrity of the legal and financial structures and the Resolution Trust Corp'.s indemnity to certificateholders for any realized losses caused by either a breach of the seller's representations and warranties, or defective mortgage loan documentation.
    Two separate pools of fixed-rate mortgage loans, divided by mortgage rate, collateralize the class A and class B certificates.  Class A is supported primarily by loans with mortgage rates less than 9 percent while class B is collateralized primarily by mortgage loans with mortgage rates greater than 9 percent.  The pass-through rate on the class A certificates reflects the weighted average net mortgage rates on the Group A mortgage loans while class B-1 through B-4 certificate rates are fixed at 7.375 percent, 7.200 percent, 7.780 percent and 8.200 percent, respectively.
    Any interest collected in excess of the class B certificate rates will be paid as principal sequentially to the class B certificates.
    The mortgage pool consists of fixed-rate one-to four-family residential mortgage loans secured by properties located primarily in Alabama, Florida, Kansas, and Louisiana.  The weighted average loan-to- value ratio (LTV) is approximately 82 percent; 51 percent of the pool has original LTVs greater than 80 percent. Condominiums and properties in planned unit developments total 14 percent of the pool, as do investor properties and second homes.  As of the cut-off date, approximately 9 percent of the pool is between 30 and 59 days delinquent while 1 percent of the pool is between 60 and 89 days delinquent.  The mortgage loans are seasoned, on average, seven years.
    Approximately 178 different state or federally chartered depository institutions now either in receivership or conservatorship under the Resolution Trust Corp. originated the mortgage loans.  National Mortgage Company, headquartered in Memphis, Tenn., is expected to assume all servicing responsibilities for the mortgage loans by early April 1992. A real estate mortgage investment conduit election will be made for federal income tax purposes.
    -0-        1/30/92
    /CONTACT:  Mary Sue Lundy, 212-908-0526 or Louis Colosimo, 212-908-0567/ CO:  Resolution Trust Corp. ST: IN: SU:  RTG SM -- NY090 -- 5341 01/30/92 14:43 EST
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Publication:PR Newswire
Date:Jan 30, 1992
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