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RMSC BOSTON SAFE DEPOSIT TRUST 1991-1 RATED 'AA' BY FITCH -- FITCH FINANCIAL WIRE --

 RMSC BOSTON SAFE DEPOSIT TRUST 1991-1 RATED 'AA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Nov. 26 /PRNewswire/ -- Ryland Mortgage Securities Corp. Boston Safe Deposit Trust 1991-1 $108.5 million mortgage participation securities are rated 'AA' by Fitch. The rating reflects the excellent quality of the mortgage loans, credit loss protection provided by the 5 percent PMI Mortgage Insurance Co. mortgage pool insurance policy, and Fitch's confidence in the integrity of the legal and financial structures.
 The pool consists of conventional one- to four-family, fully amortizing, adjustable rate mortgage loans secured by first liens on residential property. The mortgage loans are indexed to the one-year constant maturity treasury rate and all have original terms of between 25 and 30 years. The weighted average loan-to-value ratio is a very low 61.5 percent with all loans underwritten under a full documentation program. One hundred percent of the properties are owner-occupied with approximately 10 percent consisting of owner-occupied second homes. Condominiums make up approximately 8 percent of the pool. The mortgage loans are seasoned, on average, four years.
 Ryland Mortgage Securities Corp. acquired the mortgage loans from Boston Safe Deposit and Trust Co., the originator and servicer, and deposited the loans in the trust which issued the securities. Ryland Mortgage Co. will act as master servicer for the mortgage loans. The trust will be classified as a grantor trust for federal income tax purposes.
 -0- 11/26/91
 /CONTACT: Mary Sue Lundy, 212-908-0526, or Jim Nadler, 212-908-0538, both of Fitch/ CO: Ryland Mortgage Securities Corp. Boston Safe Deposit Trust ST: IN: SU: RTG


CK -- NY057 -- 7349 11/26/91 13:43 EST
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Publication:PR Newswire
Date:Nov 26, 1991
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