EXHIBIT 23


                         CONSENT OF INDEPENDENT AUDITORS




The Board of Directors
Financial Guaranty Insurance Company:

We consent to the use of our report dated January 19, 1996 on the
financial statements of Financial Guaranty Insurance Company as
of December 31, 1995 and 1994, and for each of the years in the
three-year period ended December 31, 1995 included in the Form
8-K of First Union Residential Securitization Transactions, Inc.,
and to the reference to our firm under the heading "Experts" in
the Prospectus Supplement.

Our report refers to changes, in 1993, in accounting methods for
multiple-year retrospectively rated reinsurance contracts and for
the adoption of the provisions of the Financial Accounting
Standards Board's Statement of Financial Accounting Standards
No. 115, ACCOUNTING FOR CERTAIN INVESTMENTS IN DEBT AND EQUITY
SECURITIES.






                                    /s/ KPMG Peat Marwick LLP



New York, New York
November 18, 1996







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