SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported): December 28, 1998
Merrill Lynch Mortgage Investors, Inc., Mortgage Loan Pass-Through
Certificates, Series 1998-1
(Exact name of registrant as specified in its charter)
Delaware 033-11588-02 13-5674085
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
250 Vesey Street
World Financial Center
North Tower
New York, NY 10281
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (212) 449-1000
Item 5. Other Events
On December 28, 1998, the Principal and Interest collected during the
preceding calendar month, net of certain adjustments as provided for in the
Pooling and Servicing Agreement dated as of August 1, 1998 (the "Agreement"),
between Merrill Lynch Mortgage Investors, Inc., as Depositor, and Guardian
Savings and Loan Association, as Originator, and Litton Loan Servicing, Inc.,
as Servicer, and The First National Bank of Chicago, as Trustee (the "Trustee"),
were distributed to holders ("Certificateholders") of certificates representing
undivided fractional interests in Merrill Lynch Mortgage Investors, Inc.,
Mortgage Loan Pass-Through Certficates, Series 1998-1. In accordance with the
Agreement, the Servicer's Certificate, as defined in the Agreement, was
furnished to the Trustee for the benefit of the Certificateholders and the
Trustee's Statement was distributed by the Trustee to the Certificateholders.
A. Monthly Report Information:
Aggregate distribution information for the current
distribution date December 28, 1998.
See Exhibit 1.
B. No delinquency in payment under the Certificate
Guaranty Insurance Policy has occurred.
C. Have any deficiencies occurred? NO.
Date:
Amount:
D. Were any amounts paid or are any amounts payable under
the Certificate Guaranty Insurance Policy? NO
Amount:
E. Are there any developments with respect to the
Certificate Insurance Guaranty Policy? NONE.
F. Item 1: Legal Proceedings: NONE
G. Item 2: Changes in Securities: NONE
H Item 4: Submission of Matters to a Vote of
Certificatholders: NONE
I. Item 5: Other Information - Form 10-Q, Part II - Items
1,2,4,5 if applicable: NOT APPLICABLE
Item 7. Monthly Statements and Exhibits
Exhibit No.
1. Monthly Servicer Certificate dated December 28, 1998.
Beginning Ending
Current Class Realized Class Current
Principal Optimal Loss of Interest Principal
Class Amount Principal Interest Principal Shortfall Amount
A-1 106003010.30 1503569.02 574182.97 0.00 0.00 104499441.28
A-2 1694443.00 0.00 9178.23 0.00 0.00 1694443.00
A-3 12452629.49 12951.63 67451.74 0.00 0.00 12439677.86
PO 241619.74 329.60 0.00 0.00 NA 241290.14
X 124076931.82 NA 48397.36 NA 0.00 122558292.39
M-1 5732637.50 5962.36 31051.79 0.00 0.00 5726675.14
M-2A 1011641.97 1052.18 5479.73 0.00 0.00 1010589.79
M-2B 337214.33 350.73 1826.58 0.00 0.00 336863.60
M-3 1011641.97 1052.18 5479.73 0.00 0.00 1010589.79
B-1 944198.90 982.03 5114.41 0.00 0.00 943216.87
B-2 539541.52 561.16 2922.52 0.00 0.00 538980.36
B-3 539541.71 561.16 2922.52 0.00 0.00 538980.55
R 0.00 0.00 0.10 0.00 0.00 0.00
TOTAL:130508120.43 1527372.05 754007.68 0.00 0.00 128980748.38
Beginning Ending
Current Class Current
Principal Optimal Principal Certificate
Class CUSIP Amount Principal Interest Amount Factor
A-1 589929RM2 957.363 13.5794 5.186 943.783 0.9438
A-2 589929RN0 1000.000 0.0000 5.417 1000.000 1.0000
A-3 589929RP5 996.941 1.0369 5.400 995.904 0.9959
PO 589929RQ3 995.894 1.3585 0.000 994.535 0.9945
X 589929RR1 124076931.820 0.0000 48397.360 122558292.390 0.9512
M-1 589929RT7 996.941 1.0369 5.400 995.904 0.9959
M-2A 589929RU4 996.941 1.0369 5.400 995.904 0.9959
M-2B 589929RV2 996.941 1.0369 5.400 995.904 NA
M-3 589929RW0 996.941 1.0369 5.400 995.904 NA
B-1 589929RX8 996.941 1.0369 5.400 995.904 NA
B-2 589929RY6 996.941 1.0369 5.400 995.904 NA
B-3 589929RZ3 996.941 1.0369 5.400 995.905 NA
R 589929RS9 0.000 0.0000 0.100 0.000 0.0000
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Merrill Lynch Mortgage Investors, Inc.
/s/ Donna Fanning
Donna Fanning
Vice President
Dated: December 31, 1998
