Fitch Affirms 61 & Upgrades 27 Classes from 13 PNC Issues.

NEW YORK -- Fitch Ratings has affirmed and taken rating action on the following PNC Mortgage Securities Corp. issues:

Series 1998-7 Group 1

-- Class I-A affirmed at 'AAA';

-- Class I-B-1 affirmed at 'AAA';

-- Class I-B-2 affirmed at 'AAA';

-- Class

-- Class I-B-4 upgraded to 'AAA' from 'AA+';

-- Class I-B-5 upgraded to 'A+' from 'A'.

Series 1998-7 Group 2

-- Class II-A affirmed at 'AAA';

-- Class II-B-1 affirmed at 'AAA';

-- Class II-B-2 affirmed at 'AAA';

-- Class II-B-3 upgraded to 'AA+' from 'AA';

-- Class II-B-4 upgraded to 'BBB-' from 'BB';

-- Class II-B-5 affirmed at 'B'.

Series 1998-14 Groups 1 & 2

-- Classes I-A, II-A affirmed at 'AAA';

-- Class C-B-1 affirmed at 'AAA';

-- Class C-B-2 affirmed at 'AAA';

-- Class C-B-3 upgraded to 'AAA' from 'AA';

-- Class C-B-4 upgraded to 'AA' from 'A';

-- Class C-B-5 upgraded to 'BBB' from 'BB+'.

Series 1998-14 Groups 3, 4, & 5

-- Classes III-A, IV-A, V-A affirmed at 'AAA';

-- Class D-B-1 affirmed at 'AAA';

-- Class D-B-2 affirmed at 'AAA';

-- Class D-B-3 upgraded to 'AA' from 'A';

-- Class D-B-4 affirmed at 'BB';

-- Class D-B-5 remains at 'CCC'.

Series 1999-4 Group 1

-- Classes I-A, IV-A affirmed at 'AAA';

-- Class C-B-1 affirmed at 'AAA';

-- Class C-B-2 affirmed at 'AAA';

-- Class C-B-3 upgraded to 'AAA' from 'AA';

-- Class C-B-4 upgraded to 'AA' from 'A+';

-- Class C-B-5 upgraded to 'BBB' from 'BB+'.

Series 1999-4 Group 2

-- Classes II-A, III-A affirmed at 'AAA';

-- Class D-B-1 affirmed at 'AAA';

-- Class D-B-2 upgraded to 'AAA' from 'AA';

-- Class D-B-3 upgraded to 'AA' from 'A';

-- Class D-B-4 affirmed at 'BB';

-- Class D-B-5 remains at 'CC'.

Series 1999-5 Group 1

-- Class I-A affirmed at 'AAA';

-- Class I-B-1 affirmed at 'AAA';

-- Class I-B-2 affirmed at 'AAA';

-- Class I-B-3 upgraded to 'AAA' from 'AA';

-- Class I-B-4 upgraded to 'AA' from 'A+';

-- Class I-B-5 upgraded to 'BBB+' from 'BBB-'.

Series 1999-5 Group 2

-- Classes II-A, III-A, IV-A affirmed at 'AAA';

-- Class C-B-1 affirmed at 'AAA';

-- Class C-B-2 upgraded to 'AAA' from 'AA';

-- Class C-B-3 upgraded to 'AA+' from 'AA';

-- Class C-B-4 affirmed at 'BB';

-- Class C-B-5 remains at 'CCC'.

Series 1999-6

-- Classes I-A, II-A affirmed at 'AAA';

-- Class C-B-1 affirmed at 'AAA';

-- Class C-B-2 affirmed at 'AAA';

-- Class C-B-3 upgraded to 'AAA' from 'AA';

-- Class C-B-4 upgraded to 'AA+' from 'AA';

-- Class C-B-5 affirmed at 'A'.

Series 1999-8 Group 1

-- Class I-A affirmed at 'AAA';

-- Class I-B-1 affirmed at 'AAA';

-- Class I-B-2 affirmed at 'AAA';

-- Class I-B-3 upgraded to 'AAA' from 'AA';

-- Class I-B-4 upgraded to 'AA' from 'A';

-- Class I-B-5 upgraded to 'A' from 'BB-'.

Series 1999-8 Group 2

-- Classes II-A, III-A, IV-A, V-A affirmed at 'AAA';

-- Class C-B-1 affirmed at 'AAA';

-- Class C-B-2 upgraded to 'AAA' from 'AA';

-- Class C-B-3 upgraded to 'AAA' from 'AA';

-- Class C-B-4 affirmed at 'BB';

-- Class C-B-5 remains at 'CC'.

Series 1999-11

-- Classes I-A, II-A, III-A, IV-A affirmed at 'AAA';

-- Class D-B-1 affirmed at 'AAA';

-- Class D-B-2 upgraded to 'AAA' from 'AA';

-- Class D-B-3 affirmed at 'AA';

-- Class D-B-4 affirmed at 'BB';

-- Class D-B-5 remains at 'CC'.

Series 1999-12

-- Classes I-A, II-A, III-A affirmed at 'AAA';

-- Class D-B-1 affirmed at 'AAA';

-- Class D-B-2 affirmed at 'AAA';

-- Class D-B-3 upgraded to 'AA' from 'A+';

-- Class D-B-4 affirmed at 'BB';

-- Class D-B-5 remains at 'C'.

The affirmations on the above classes reflect credit enhancement consistent with future loss expectations and affect approximately $330 million of certificates.

The upgrades reflect an increase in credit enhancement relative to future loss expectations and affect approximately $61 million of certificates.

The transactions above have collateral remaining in the pool ranging from 3% to 12% of the original collateral amount.

Further information regarding current delinquency, loss, and credit enhancement statistics is available on the Fitch Ratings web site at 'www.fitchratings.com'.