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RTC MORTGAGE PASS-THROUGH SERIES 1992-10 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --

 RTC MORTGAGE PASS-THROUGH SERIES 1992-10 'AAA/AA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, Sept. 1 /PRNewswire/ -- Resolution Trust Corp.'s mortgage pass-through certificates, Series 1992-10, $356.2 million classes A-2 through A-5 are rated 'AAA' by Fitch. The $92.7 million class A-1 certificates and $25.9 million classes B-2 through B-5 certificates are rated 'AA.' The 'AA' rating primarily reflects the credit enhancement provided by two reserve funds. Reserve fund I will initially equal 7.00 percent of the aggregate principal balance of mortgage loan group 1. Reserve fund II will initially equal 10.75 percent of the aggregate principal balance of mortgage loan groups 2 through 5. The 'AAA' rating reflects the reserve funds as well as the additional credit enhancement provided to classes A-2 through A-5 by the subordination of the related class B certificates. Each rating also reflects Fitch's confidence in the integrity of the legal and financial structures as well as the master servicing capabilities of Ryland Mortgage Co.
 Mortgage loan group 1 consists of conventional, one- to four-family, residential, fixed-rate (86 percent), and adjustable rate (14 percent) mortgage loans (ARMs). The ARM loans are indexed to the Six-Month Discount Treasury index. The mortgage loans are secured by properties located primarily in California (44 percent). The weighted average loan- to-value (LTV) ratio is approximately 82 percent, and 41 percent of the pool has LTVs greater than 80 percent. As of the cut-off date, the 30- to 59-day delinquencies were approximately 4 percent and the 60- to 89- day delinquencies 1 percent. The mortgage loans are seasoned, on average, 14 years.
 Mortgage loan groups 2 through 5 are comprised of conventional, one- to four-family, residential ARM loans (primarily indexed to the one-year CMT index, COFI, and the Six-Month Discount Treasury index) located predominantly in California (80 percent). The weighted average LTV is approximately 75 percent, and 15 percent of the mortgage loans have LTVs greater than 80 percent. The mortgage loans are seasoned, on average, six years with 30- to 59-day delinquencies approximately 2 percent, and 60- to 89-day delinquencies 0.5 percent.
 The mortgage loans were acquired by the RTC in its capacity as conservator or receiver for over 106 state or federally chartered depository institutions. The collateral has been sold and assigned to the trust which issued the certificates. Ryland Mortgage Co. will be responsible for the servicing of the mortgage loans by approximately 12 servicers. An election will be made to treat the trust fund as a real estate mortgage investment conduit for federal income tax purposes.
 -0- 9/1/92
 /CONTACT: Jill M. Guido, 212-908-0682, or Alexander K. Zabik, 212-908-0634, both of Fitch/ CO: Resolution Trust Corp. ST: IN: FIN SU: RTG


CK -- NY029 -- 5337 09/01/92 10:23 EDT
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Publication:PR Newswire
Date:Sep 1, 1992
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