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RTC MORTGAGE PASS-THROUGH SERIES 1992-8 'AAA/AA' BY FITCH -- FITCH FINANCIAL WIRE --

 RTC MORTGAGE PASS-THROUGH SERIES 1992-8 'AAA/AA' BY FITCH
 -- FITCH FINANCIAL WIRE --
 NEW YORK, June 29 /PRNewswire/ -- Resolution Trust Corp.'s Mortgage Pass-Through Certificates, Series 1992-8, $521.7 million classes A-2 through A-5 are rated 'AAA' by Fitch. The $16.5 million class A-1 certificates and $39.6 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 12.50 percent of the aggregate principal balance of mortgage loan groups 1 and 2. Reserve fund II will initially equal 13.75 percent of the aggregate principal balance of mortgage loans groups 3 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 strong servicing capabilities of National Mortgage Co.
 Mortgage loan groups 1 and 2 consist of fixed rate, conventional, one- to four-family, residential mortgage loans. Mortgage loan group 1 contains loans with rates less than 8.5 percent and mortgage loan group 2 has loans greater than or equal to 8.5 percent. The mortgage loans are secured by properties located primarily in Texas and Virginia. The weighted average loan-to-value (LTV) ratio is approximately 88 percent, and 62 percent of the pool has LTVs greater than 80 percent. As of the cut-off date, the 30- to 59-day delinquencies were approximately 8 percent and the 60- to 89-day delinquencies 4 percent. The mortgage loans are seasoned, on average, 8 years.
 Mortgage loan groups 3 through 5 are comprised of adjustable rate (primarily indexed to the one-year CMT index, COFI, and the FHLBB National Contract Rate) conventional, one-to-four-family, residential mortgage loans located predominantly in Florida and California. The weighted average LTV is approximately 82 percent, and 41 percent of the mortgage loans have LTVs greater than 80 percent. The mortgage loans are seasoned, on average, 5 years with 30-to-59-day delinquencies approximately 9 percent, and 60-to-89-day delinquencies 3 percent.
 The mortgage loans were acquired by the RTC in its capacity as conservator or receiver for over 200 state or federally chartered depository institutions. The collateral has been sold and assigned to the trust which issued the certificates. National Mortgage Co. will assume all servicing responsibilities for the mortgage loans by October 1992. A real estate mortgage conduit election will be made for federal income tax purposes.
 -0- 6/29/92
 /CONTACT: Alexander K. Zabik, 212-908-0634, or Jill M. Guido 212-908-0682, both of Fitch/ CO: Resolution Trust Corp. ST: IN: FIN SU: RTG


LD -- NY086 -- 4949 06/29/92 18:04 EDT
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Publication:PR Newswire
Date:Jun 29, 1992
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