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SALOMON BROTHERS MORTGAGE SECURITIES VII 1993-6A CLASS 6A-A&R ARE RATED 'AAA' BY FITCH -- FITCH FINANCIAL WIRE --

 NEW YORK, Oct. 1 /PRNewswire/ -- Salomon Brothers Mortgage Securities VII Inc.'s (SBMS) $275.5 million mortgage pass-through certificates, series 1993-6A, class 6A-A and 6A-R certificates are rated 'AAA' by Fitch. The $9.8 million class 6A-B1 is rated 'AA' and the $1.5 million class 6A-B2 is rated 'A'.
 The 'AAA' rating on the class 6A-A and 6A-R certificates reflects the credit enhancement provided by the 3.25 percent class 6A-B1, 0.50 percent class 6A-B2, 4.0 percent class 6A-B3, and 1.0 percent class 6A- B4. The 'AA' rating on class 6A-B1 reflects the credit enhancement provided by the 0.50 percent class 6A-B2, 4.0 percent class 6A-B3 and 1.0 percent class 6A-B4. The 'A' rating reflects the credit enhancement provided by the 4.0 percent class 6A-B3 and 1.0 percent class 6A-B4. Special hazard, borrower bankruptcy, and fraud loss protection will be provided initially by the class B certificates up to specified limits. The ratings also reflect the integrity of the legal and financial structures, as well as the master servicing capabilities of Countrywide Funding Corp. (Countrywide).
 The pool consists of recently originated, conventional, fully amortizing, 30-year, adjustable-rate mortgage loans secured by first liens on one- to four-family residential properties. The 904 loans, indexed to a rate based on the weekly average yield on U.S. Treasury Securities adjusted to a constant maturity of one year, adjust annually and are subject to periodic and lifetime interest rate adjustment caps. The weighted average original loan-to-value ratio is 72.3 percent., In addition, the mortgage pool is composed of 7.7 percent limited documentation loans, 9.6 percent equity refinance loans, and 47.2 percent jumbo loans (balances between $300,001 and $600,000). Approximately 77 percent of the mortgaged properties are located in California, with 36 percent in Los Angeles and 16 percent in San Francisco, 6 percent in San Diego, and 19 percent in other areas of California.
 SBMS acquired all of the mortgage loans from Salomon Brothers Realty Corp.(SBRC), an SBMS affiliate, which, in turn purchased the loans from Countrywide. SBMS, a special purpose corporation, deposited the loans in the trust, which issued the certificates. For federal income tax purposes, a real estate mortgage investment conduit election will be made with respect to the trust fund.
 -0- 10/1/93
 /CONTACT: Michele J. Loesch, 212-908-0686 or Jill M. Guido, 212-908-0682, both of Fitch/


CO: Salomon Brothers Mortgage Securities VII Inc. ST: California IN: FIN SU: RTG

WB -- NY038 -- 7742 10/01/93 11:10 EDT
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Publication:PR Newswire
Date:Oct 1, 1993
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