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RYLAND ACCEPTANCE CORPORATION FOUR $112,500,000 PAYMENT INDEXED NOTES, SERIES 98 RATED BY DUFF & PHELPS

 NEW YORK, Sept. 30 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has rated the following class of Payment Indexed Notes, Series 98 issued by Ryland Acceptance Corporation Four:
 Class Amount Rate D&P Rating
 A $112,500,0001 Month LIBOR +2 pct. AAA
 Class A is entitled to monthly payments on the collateral described below less fees of the trust. The payments are allocated first to Class A to meet a sinking fund schedule, then to pay interest on the class and then to pay down principal on the class. In the event that any Class A1 interest is accrued but not paid on the respective payment date, such interest, together with interest on such interest, is scheduled to be paid once the principal amount of the class has been paid in full. Holders of two-thirds of the trust certificates may terminate the trust on or after the date upon which the principal balance of the Class A notes falls below approximately $33,750,000, in which case the Class A noteholders must be paid their outstanding principal amount plus any accrued and unpaid interest.
 The rating of the notes reflects D&P's opinion that the Class A noteholders will receive at least $112,500,000 of payments by the Class A maturity date. The rating does not address either the right of noteholders to receive payments on the notes in excess of an amount equal to the aggregate principal amount of the notes or whether noteholders will suffer lower than anticipated yields. In addition, the ratings do not address whether the payments on the notes will take the form of either principal or interest.
 The notes are secured by collateral consisting of 19 different classes of REMIC and CMO securities issued by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Association (Freddie Mac). The securities consist of variations of principal only and interest only. The notes were issued pursuant to an indenture between Ryland Acceptance Corporation Four, as issuer, and Nationsbank, N.A., as trustee.
 The analysis for the ratings primarily focused on prepayments of the mortgage pools underlying the REMIC securities and the subsequent effect on note cash flows.
 -0- 9/30/93
 /CONTACT: Henry W. Hayssen of Duff & Phelps Credit Rating Co., 212-908-0209/


CO: Ryland Acceptance Corporation Four ST: IN: FIN SU: RTG

CK -- NY128 -- 7576 09/30/93 19:23 EDT
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Date:Sep 30, 1993
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