March 29, 1999
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: Financial Asset Securities Corp. Residential Mortgage Loan Trust
1998-1 Certificates; File No. 333-44067.
Ladies and Gentlemen:
Enclosed herewith for filing on behalf of the trust fund (the
"Trust") created pursuant to a Pooling and Servicing Agreement dated
as of October 1, 1998 (the Agreement") among Financial Asset
Securities Corp., as depositor (the "Depositor"), Greenwich Capital
Financial Products, Inc., as seller (the "Seller"), Ocwen Federal
Bank FSB, as master servicer (the "Master Servicer") and Bankers
Trust Company of California, N.A., as trustee (the "Trustee"), is a
Current Report on Form 8-K (the "Report").
The Residential Mortgage Loan Trust 1998-1 will issue the Class A
Certificates (the "Senior Certificates"), )ii_ the Class M-1
Certificates and the M-2 Certificates (the "Mezzanine Certificates"),
(iii) the Class B Certificates (the "Subordinate Certificates"), (iv)
the Class OC Certificates and (v) the Class R Certificates (the
"Residual Certificates"). The Senior Certificates, the Mezzanine
Certificates and the Subordinate Certificates (collectively, the
"Offered Certificates"), the Class OC Certificates and the Residual
Certificates are collectively referred to herein as the
"Certificates." Only the Offered Certificates are offered hereby.
The Offered Certificates were registered under the Securities Act of
1933, as amended, by a Registration Statement on Form S-11 (File No.
333-44067). As a result, the Trust is subject to the filing
requirements of Section 15(d) of the Securities Exchange Act of 1934,
as amended (the "Exchange Act"). The Trust intends to fulfill these
filing requirements in the manner described herein:
The Trust will file, promptly after each Distribution Date (as
defined in the Pooling and Servicing Agreement), a Current Report on
Form 8-K in substantially the form enclosed herewith, including as
an exhibit thereto the applicable Distribution Date report. Each
such Current Report will also disclose under Item 5 any matter
occurring during the relevant reporting period which would be
reportable under Item 1, 2, 4 or 5 of Part II of Form 10-Q.
The Trust will file a Current Report on Form 8-K promptly after the
occurrence of any event described under Item 2, 3, 4 or 5 thereof,
responding to the requirements of the applicable Item.
Within 90 days after the end of each fiscal year, the Trust will file
an annual report of Form 10-K which responds to Items 2, 3, and 4 of
Part I, Items 5 and 9 of Part II, Items 12 and 13 of Part III and
Item 14 of Part IV thereof, and include as exhibits thereto certain
information from the Distribution Date reports aggregated for such
year and a copy of the independent accountants' annual compliance
statement required under the Pooling and Servicing Agreement.
The Trust will follow the above procedures except for any fiscal year
as to which its reporting obligations under Section 15(d) of the
Exchange Act have been suspended pursuant to such Section. In such
event, the Trust will file a Form 15 as required under Rule 15d-6.
Should you wish to discuss the above filing procedures, please call
Judy L. Gomez at (714) 253-7562.
Sincerely,
/s/ Judy L. Gomez
Assistant Vice President
Bankers Trust Company of California, N.A.
S.E.C. Reporting Agent for Financial Asset Securities Corp.
Residential Mortgage Loan Trust 1998-1 Certificates
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): November 25, 1998
FINANCIAL ASSET SECURITIES CORP.
(as Depositor under the Pooling and Servicing
Agreement, dated as of October 1, 1998, providing for the
issuance of Residential Mortgage Loan Trust 1998-1 Certificates)
RESIDENTIAL MORTGAGE LOAN TRUST 1998-1 CERTIFICATES
(Exact name of Registrant as specified in its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
333-44067 06-1442101
(Commission File Number) (I.R.S. Employer Identification No.)
600 STEAMBOAT ROAD
GREENWICH, CONNECTICUT 06830
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (203)622-2700
Item 5. Other Events
Attached hereto is a copy of the Monthly Remittance Statements
to the Certificateholders which was derived from the monthly
information submitted by the Master Servicer of the Trust to the
Trustee.
Item 7. Financial Statement and Exhibits
Exhibits: (as noted in Item 5 above)
Monthly Remittance Statement to the Certificateholders dated as of
November 25, 1998.
Monthly Remittance Statement to the Certificateholders dated as of
December 28, 1998.
Monthly Remittance Statement to the Certificateholders dated as of
January 25, 1999.
Monthly Remittance Statement to the Certificateholders dated as of
March 25, 1999.
Monthly Remittance Statement to the Certificateholders dated as of
February 25, 1999.
SIGNATURE
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, hereunto duly authorized.
Bankers Trust Company of California,
N.A., not in its individual
capacity, but solely as a duly
authorized agent of the Registrant
pursuant to the Pooling and
Servicing Agreement, dated as of
October 1, 1998.
Date: March 29, 1999 By: /s/ Judy L. Gomez
Judy L. Gomez
Assistant Vice President
EXHIBIT INDEX
Document
Monthly Remittance Statement to the Certificateholders dated as of
November 25, 1998.
Monthly Remittance Statement to the Certificateholders dated as of
December 28, 1998.
Monthly Remittance Statement to the Certificateholders dated as of
January 25, 1999.
Monthly Remittance Statement to the Certificateholders dated as of
February 25, 1999.
Monthly Remittance Statement to the Certificateholders dated as of
March 25, 1999.
Residential Mortgage Loan Trust 1998-1 Certificates
REMIC I
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
T1-1 261,317,856.27 261,317,856.27 2,034,530.80 3,401,713.09 5,
>436,243.89 0.00 0.00 257,916,143.18
T1-2 2,666,508.74 2,666,508.74 20,760.52 34,711.36
> 55,471.88 0.00 0.00 2,631,797.38
T1-3 2,666,508.74 2,666,508.74 20,760.52 34,711.36
> 55,471.88 0.00 0.00 2,631,797.38
R1 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 266,650,873.74 266,650,873.74 2,076,051.84 3,471,135.81 5,
>547,187.65 0.00 0.00 263,179,737.93
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
T1-1 1,000.000000 7.785655 13.017530
> 20.803186 986.982470 9.342787% 8.925771%
T1-2 1,000.000000 7.785656 13.017531
> 20.803187 986.982469 9.342787% 8.925771%
T1-3 1,000.000000 7.785656 13.017531
> 20.803187 986.982469 9.342787% 8.925771%
R1 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Greenwich Capital Financial Products, Inc. ADMI
>NISTRATOR: Richard Ward
SERVICER: Ocwen Federal Bank FSB
> Bankers Trust Company
LEAD UNDERWRITER:
> 3 Park Plaza
RECORD DATE: October 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: November 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 8 (c) COPYRIGHT 1998 Bankers Trust Company
Residential Mortgage Loan Trust 1998-1 Certificates
REMIC II
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
T2-1 261,317,856.27 261,317,856.27 2,034,530.80 3,401,713.09 5,
>436,243.89 0.00 0.00 257,916,143.18
T2-2 2,666,508.74 2,666,508.74 18,407.93 34,711.36
> 53,119.29 0.00 0.00 2,631,797.38
T2-3 2,666,508.74 2,666,508.74 20,760.52 34,711.36
> 55,471.88 0.00 0.00 2,631,797.38
T2-4 0.00 0.00 2,352.59 0.00
> 2,352.59 0.00 0.00 0.00
R2 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 266,650,873.74 266,650,873.74 2,076,051.84 3,471,135.81 5,
>547,187.65 0.00 0.00 263,179,737.93
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
T2-1 1,000.000000 7.785655 13.017530
> 20.803186 986.982470 9.342787% 8.925771%
T2-2 1,000.000000 6.903383 13.017531
> 19.920914 986.982469 8.284060% 8.125000%
T2-3 1,000.000000 7.785656 13.017531
> 20.803187 986.982469 9.342787% 8.925771%
T2-4 0.000000 0.008823 0.000000
> 0.008823 0.000000 0.000000% 0.000000%
R2 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Greenwich Capital Financial Products, Inc. ADMI
>NISTRATOR: Richard Ward
SERVICER: Ocwen Federal Bank FSB
> Bankers Trust Company
LEAD UNDERWRITER:
> 3 Park Plaza
RECORD DATE: October 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: November 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 2 of 8 (c) COPYRIGHT 1998 Bankers Trust Company
Residential Mortgage Loan Trust 1998-1 Certificates
REMIC III
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
T3-1*263,984,365.00 263,984,365.00 100,925.97 0.00
>100,925.97 0.00 0.00 263,984,365.00
T3-2* 2,666,508.74 2,666,508.74 0.00 0.00
> 0.00 0.00 0.00 2,666,508.74
T3-3 0.00 0.00 2,352.59 0.00
> 2,352.59 0.00 0.00 0.00
T3-4 231,986,000.00 231,986,000.00 1,601,488.29 5,059,285.80 6,
>660,774.09 0.00 0.00 226,926,714.20
T3-5 16,000,000.00 16,000,000.00 110,454.13 0.00
>110,454.13 0.00 0.00 16,000,000.00
T3-6 10,666,000.00 10,666,000.00 73,631.49 0.00
> 73,631.49 0.00 0.00 10,666,000.00
T3-7 258,652,100.74 258,652,100.74 1,785,574.60 0.00 1,
>785,574.60 0.00 0.00 258,652,100.74
T3-8 100.74 100.74 0.70 0.00
> 0.70 0.00 0.00 100.74
R3 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
* Represents a Notional Balance
TOTALS 517,304,201.48 517,304,201.48 3,573,501.80 5,059,285.80 8,
>632,787.60 0.00 0.00 512,244,915.68
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
T3-1* 1,000.000000 0.382318 0.000000
> 0.382318 1,000.000000 1.058727% 0.000000%
T3-2* 1,000.000000 0.000000 0.000000
> 0.000000 1,000.000000 0.000000% 0.000000%
T3-3 0.000000 0.004548 0.000000
> 0.004548 0.000000 0.000000% 0.000000%
T3-4 1,000.000000 6.903383 21.808582
> 28.711966 978.191418 8.284060% 8.125000%
T3-5 1,000.000000 6.903383 0.000000
> 6.903383 1,000.000000 8.284060% 8.125000%
T3-6 1,000.000000 6.903384 0.000000
> 6.903384 1,000.000000 8.284060% 8.125000%
T3-7 1,000.000000 6.903383 0.000000
> 6.903383 1,000.000000 8.284060% 8.125000%
T3-8 1,000.000000 6.948581 0.000000
> 6.948581 1,000.000000 8.284060% 8.125000%
R3 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Greenwich Capital Financial Products, Inc. ADMI
>NISTRATOR: Richard Ward
SERVICER: Ocwen Federal Bank FSB
> Bankers Trust Company
LEAD UNDERWRITER:
> 3 Park Plaza
RECORD DATE: October 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: November 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 3 of 8 (c) COPYRIGHT 1998 Bankers Trust Company
Residential Mortgage Loan Trust 1998-1 Certificates
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A 231,986,000.00 231,986,000.00 505,489.63 4,956,006.54 5,
>461,496.17 0.00 0.00 227,029,993.46
M-1 16,000,000.00 16,000,000.00 36,019.01 0.00
> 36,019.01 0.00 0.00 16,000,000.00
M-2 10,666,000.00 10,666,000.00 25,744.40 0.00
> 25,744.40 0.00 0.00 10,666,000.00
B 7,998,773.00 7,998,773.00 23,928.06 0.00
> 23,928.06 0.00 0.00 7,998,773.00
OC 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
R4 100.00 100.00 0.00 0.00
> 0.00 0.00 0.00 100.00
TOTALS 266,650,873.00 266,650,873.00 591,181.10 4,956,006.54 5,
>547,187.64 0.00 0.00 261,694,866.46
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A 76110NAA4 1,000.000000 2.178966 21.363386
> 23.542352 978.636614 6.034060% 5.875000%
M-1 76110NAF3 1,000.000000 2.251188 0.000000
> 2.251188 1,000.000000 6.234060% 6.075000%
M-2 76110NAG1 1,000.000000 2.413688 0.000000
> 2.413688 1,000.000000 6.684060% 6.525000%
B 76110NAH9 1,000.000000 2.991466 0.000000
> 2.991466 1,000.000000 8.284060% 8.125000%
OC GC98H1409 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
R4 76110NAJ6 1,000.000000 0.000000 0.000000
> 0.000000 1,000.000000 0.000000% 0.000000%
This statement is also available on Bankers Trust's website, http://online.bank
>erstrust.com/invr.
We begin posting statements to the website at 7:00 p.m. EST on the
business day before each distribution date.
SELLER: Greenwich Capital Financial Products, Inc. ADMI
>NISTRATOR: Richard Ward
SERVICER: Ocwen Federal Bank FSB
> Bankers Trust Company
LEAD UNDERWRITER:
> 3 Park Plaza
RECORD DATE: October 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: November 25, 1998
> FACTOR INFORMATION(800) 735-7777
Page 4 of 8 (c) COPYRIGHT 1998 Bankers Trust Company
Residential Mortgage Loan Trust 1998-1 Certificates
Statement To Certificateholders
Distribution Date: November 25, 1998
30-59 DAYS 60
>-89 DAYS 90+ DAYS
DELINQUENT LOAN INFORMATION PAST DUE P
>AST DUE PAST DUE Total
PRINCIPAL BALANCE 0.00
> 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000%
> 0.00000% 0.00000% 0.00
NUMBER OF LOANS 0
> 0 0 0.00
PERCENTAGE OF POOL LOANS 0.00000%
> 0.00000% 0.00000% 0.00
FORECLOSURE LOAN INFORMATION
PRINCIPAL BALANCE 0.00
> 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000%
> 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0
> 0 0 0
PERCENTAGE OF POOL LOANS 0.00000%
> 0.00000% 0.00000% 0.00000%
REO LOAN INFORMATION
PRINCIPAL BALANCE 0.00
> 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000%
> 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0
> 0 0 0
PERCENTAGE OF POOL LOANS 0.00000%
> 0.00000% 0.00000% 0.00000%
BANKRUPTCY LOAN INFORMATION
PRINCIPAL BALANCE 0.00
> 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000%
> 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0
> 0 0 0
PERCENTAGE OF POOL LOANS 0.00000%
> 0.00000% 0.00000% 0.00000%
TOTAL
PRINCIPAL BALANCE 0.00
> 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000%
> 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0
> 0 0 0
PERCENTAGE OF POOL LOANS 0.00000%
> 0.00000% 0.00000% 0.00000%
BOOK VALUE OF REO PROPERTY:
> 0.00
REO LOAN NUMBER UNPAID PRINCIPLE BALANCE PRIN
>CIPLE BALANCE AS OF THE DATE THAT BECAME REO
Page 5 of 8 (c) COPYRIGHT 1998 Bankers Trust Company
Residential Mortgage Loan Trust 1998-1 Certificates
Statement To Certificateholders
Distribution Date: November 25, 1998
COLLECTION ACCOUNT INFORMATION
SOURCES OF PRINCIPAL
SCHEDULED PRINCIPAL RECEIVED
> 189,458.64
CURTAILMENTS AND PRINCIPAL PREPAYMENTS
> 3,281,677.17
REPURCHASES / SUBSTITUTIONS
> 0.00
NET LIQUIDATION PROCEEDS
> 0.00
PORTION OF PURCHASE PRICE OF ALL DEFECTIVE MORTGAGE LOANS
> 0.00
SUBSTITUTION ADJUSTMENTS PURSUANT TO SECTION 2.06
> 0.00
LESS: REALIZED LOSSES
> 0.00
TOTAL PRINCIPAL
> 3,471,135.81
SOURCES OF INTEREST
SCHEDULED INTEREST
> 2,189,378.45
REPURCHASES / SUBSTITUTIONS
> 0.00
LIQUIDATION PROCEEDS
> 0.00
INSURANCE PROCEEDS
> 0.00
OTHER INTEREST
> 0.00
LESS: DELINQUENT INTEREST
> (227,019.03)
LESS: PPIS
> 0.00
LESS: TRUSTEE FEE
> (2,222.09)
LESS: CURRENT SERVICING FEES
> (100,210.17)
LESS: REALIZED LOSSES
> 0.00
PLUS: COMPENSATING INTEREST
> 0.00
PLUS: INTEREST ADVANCED AMOUNT
> 216,124.67
TOTAL INTEREST
> 2,076,051.83
AGGREGATE AMOUNT OF EXTRAORDINARY TRUST FUND EXPENSES
> 0.00
TOTAL REMITTANCE DUE
> 5,544,965.55
EXTRA PRINCIPAL DISTRIBUTION AMOUNT
> 1,484,870.73
TRUSTEE FEE
> 2,222.09
Page 6 of 8 (c) COPYRIGHT 1998 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
Statement To Certificateholders
Distribution Date: November 25, 1998
SERVICING FEES
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD:
> 100,210.17
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS:
> 0.00
LESS: DELINQUENT SERVICE FEES:
> (10,894.36)
COLLECTED SERVICING FEES FOR CURRENT PERIOD:
> 89,315.81
EXCESS SERVICING FEES PAID TO THE SELLER
> 0.00
POOL INFORMATION
PRIOR PRINCIPAL BALANCE OF POOL:
> 266,650,873.74
CURRENT PRINCIPAL BALANCE OF POOL:
> 263,179,737.93
GROUP FACTOR
> 98.69825%
PRIOR NUMBER OF LOANS:
> 2,580
CURRENT NUMBER OF LOANS:
> 2,552
NUMBER OF LOANS PAID IN FULL:
> 28
CURRENT WEIGHTED AVERAGE MORTGAGE RATE:
> 9.85279%
NEXT WEIGHTED AVERAGE MORTGAGE RATE:
> 9.93577%
WEIGHTED AVERAGE TERM TO MATURITY:
> 343
TRIGGER EVENTS
HAS A TRIGGER EVENT OCCURRED AND CONTINUING?
> NO
HAS AN OVERCOLLATERALIZATION STEPDOWN TRIGGER EVENT OCCURRED
AND CONTINUING?
> NO
OVERCOLLATERALIZATION
OVERCOLLATERALIZATION AMOUNT
> 1,484,871.47
TARGET OVERCOLLATERALIZATION AMOUNT
> 8,666,153.40
OVERCOLLATERALIZATION DEFICIENCY AMOUNT
> 7,181,281.93
Page 7 of 8 (c) COPYRIGHT 1998 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
Statement To Certificateholders
Distribution Date: November 25, 1998
ALLOCABLE LOSS AMOUNTS
> Prior Current
CLASS M-1
> 0.00 0.00
CLASS M-2
> 0.00 0.00
CLASS B
> 0.00 0.00
CLASS OC
> 0.00 0.00
BASIC RISK SHORTFALL AMOUNT OWING TO EACH CLASS
> Prior Current
CLASS M-1
> 0.00 0.00
CLASS M-2
> 0.00 0.00
CLASS B
> 0.00 0.00
CLASS OC
> 0.00 0.00
AMOUNT ON DEPOSIT IN THE EXCESS RESERVE FUND ACCOUNT
> 0.00 0.00
AGGREGATE PRINCIPLE BALANCE OF LOANS PURCHASED BY THE MASTER SERVICER OR SELLER
> 0.00
AGGREGATE AMOUNT REPRESENTING COLLECTIONS OF PREPAYMENT PENALTIES CHARGES
> 0.00
BASIS RISK SHORTFALL AMOUNT
> 0.00
AMOUNT ON DEPOSIT IN THE EXCESS RESERVE FUND ACCOUNT
> 1,000.00
INTEREST DISTRIBUTABLE AMOUNTS
> Prior Current
CLASS A
> 505,489.63
CLASS M-1
> 36,019.01
CLASS M-2
> 25,744.40
CLASS B
> 23,928.06
Page 8 of 8 (c) COPYRIGHT 1998 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
REMIC I
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
T1-1 261,317,856.27 257,916,143.18 2,092,320.29 2,614,049.42 4,
>706,369.71 0.00 0.00 255,302,093.76
T1-2 2,666,508.74 2,631,797.38 21,350.21 26,673.98
> 48,024.19 0.00 0.00 2,605,123.40
T1-3 2,666,508.74 2,631,797.38 87,748.47 26,673.98
>114,422.45 0.00 0.00 2,605,123.40
R1 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 266,650,873.75 263,179,737.94 2,201,418.97 2,667,397.38 4,
>868,816.35 0.00 0.00 260,512,340.56
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
T1-1 986.982470 8.006802 10.003333
> 18.010134 976.979137 9.734886% 8.896064%
T1-2 986.982469 8.006803 10.003335
> 18.010138 976.979134 9.734886% 8.896064%
T1-3 986.982469 32.907625 10.003335
> 42.910960 976.979134 9.734886% 8.896064%
R1 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Greenwich Capital Financial Products, Inc. ADMI
>NISTRATOR: Richard Ward
SERVICER: Ocwen Federal Bank FSB
> Bankers Trust Company
LEAD UNDERWRITER: Greenwich Capital Markets, Inc.
> 3 Park Plaza
RECORD DATE: November 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: December 28, 1998
> FACTOR INFORMATION(800) 735-7777
Page 1 of 8
> (c) COPYRIGHT 1998 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
REMIC II
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
T2-1 261,317,856.27 257,916,143.18 2,092,320.29 2,614,049.42 4,
>706,369.71 0.00 0.00 255,302,093.76
T2-2 2,666,508.74 2,631,797.38 17,819.46 26,673.98
> 44,493.44 0.00 0.00 2,605,123.40
T2-3 2,666,508.74 2,631,797.38 87,748.47 26,673.98
>114,422.45 0.00 0.00 2,605,123.40
T2-4 0.00 0.00 3,530.75 0.00
> 3,530.75 0.00 0.00 0.00
R2 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 266,650,873.75 263,179,737.94 2,201,418.97 2,667,397.38 4,
>868,816.35 0.00 0.00 260,512,340.56
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
T2-1 986.982470 8.006802 10.003333
> 18.010134 976.979137 9.734886% 8.896064%
T2-2 986.982469 6.682693 10.003335
> 16.686028 976.979134 8.125000% 8.687500%
T2-3 986.982469 32.907625 10.003335
> 42.910960 976.979134 9.734886% 8.896064%
T2-4 0.000000 0.013241 0.000000
> 0.013241 0.000000 1.609888% N/A
R2 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Greenwich Capital Financial Products, Inc. ADMI
>NISTRATOR: Richard Ward
SERVICER: Ocwen Federal Bank FSB
> Bankers Trust Company
LEAD UNDERWRITER: Greenwich Capital Markets, Inc.
> 3 Park Plaza
RECORD DATE: November 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: December 28, 1998
> FACTOR INFORMATION(800) 735-7777
Page 2 of 8
> (c) COPYRIGHT 1998 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
REMIC III
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
T3-1*263,984,365.01 260,547,940.56 409,248.15 0.00
>409,248.15 0.00 0.00 0.00
T3-2* 2,666,508.74 2,631,797.38 132.31 0.00
> 132.31 0.00 0.00 0.00
T3-3 0.00 0.00 3,530.75 0.00
> 3,530.75 0.00 0.00 0.00
T3-4 231,986,000.00 231,986,000.00 1,570,738.54 0.00 1,
>570,738.54 0.00 0.00 231,986,000.00
T3-5 16,000,000.00 16,000,000.00 108,333.33 0.00
>108,333.33 0.00 0.00 16,000,000.00
T3-6 10,666,000.00 10,666,000.00 72,217.71 0.00
> 0.00 0.00 0.00 10,666,000.00
T3-7 258,652,100.74 258,652,100.74 1,751,290.27 0.00
> 0.00 0.00 0.00 258,652,100.74
T3-8 100.74 100.74 0.68 0.00
> 0.00 0.00 0.00 100.74
R3 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
* Represents a Notional Balance
TOTALS 517,304,201.48 517,304,201.48 3,506,111.28 0.00 1,
>682,602.62 0.00 0.00 517,304,201.48
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
T3-1* 986.982470 1.550274 0.000000
> 1.550274 0.000000 1.663116% 0.000000%
T3-2* 986.982469 0.049619 0.000000
> 0.049619 0.000000 0.053230% 0.000000%
T3-3 0.000000 0.006825 0.000000
> 0.006825 0.000000 0.000000% 0.000000%
T3-4 1,000.000000 6.770833 0.000000
> 6.770833 1,000.000000 8.125000% 8.687500%
T3-5 1,000.000000 6.770833 0.000000
> 6.770833 1,000.000000 8.125000% 8.687500%
T3-6 1,000.000000 6.770833 0.000000
> 6.770833 1,000.000000 8.125000% 8.687500%
T3-7 1,000.000000 6.770833 0.000000
> 6.770833 1,000.000000 8.125000% 8.687500%
T3-8 1,000.000000 6.750050 0.000000
> 6.750050 1,000.000000 8.125000% 8.687500%
R3 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Greenwich Capital Financial Products, Inc. ADMI
>NISTRATOR: Richard Ward
SERVICER: Ocwen Federal Bank FSB
> Bankers Trust Company
LEAD UNDERWRITER: Greenwich Capital Markets, Inc.
> 3 Park Plaza
RECORD DATE: November 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: December 28, 1998
> FACTOR INFORMATION(800) 735-7777
Page 3 of 8
> (c) COPYRIGHT 1998 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A 231,986,000.00 227,029,993.46 1,259,701.14 3,248,812.50 4,
>508,513.64 0.00 0.00 223,781,180.96
M-1 16,000,000.00 16,000,000.00 91,800.00 0.00
> 91,800.00 0.00 0.00 16,000,000.00
M-2 10,666,000.00 10,666,000.00 65,729.23 0.00
> 65,729.23 0.00 0.00 10,666,000.00
B 7,998,773.00 7,998,773.00 61,379.47 0.00
> 61,379.47 0.00 0.00 7,998,773.00
OC 0.00 0.00 66,398.26 0.00
> 66,398.26 0.00 0.00 0.00
R4 100.00 100.00 0.00 100.00
> 100.00 0.00 0.00 0.00
TOTALS 266,650,873.00 261,694,866.46 1,545,008.10 3,248,912.50 4,
>793,920.60 0.00 0.00 258,445,953.96
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A 76110NAA4 978.636614 5.430074 14.004347
> 19.434421 964.632266 5.875000% 6.437500%
M-1 76110NAF3 1,000.000000 5.737500 0.000000
> 5.737500 1,000.000000 6.075000% 6.637500%
M-2 76110NAG1 1,000.000000 6.162500 0.000000
> 6.162500 1,000.000000 6.525000% 7.087500%
B 76110NAH9 1,000.000000 7.673611 0.000000
> 7.673611 1,000.000000 8.125000% 8.687500%
OC GC98H1409 0.000000 0.128354 0.000000
> 0.128354 0.000000 0.000000% 0.000000%
T4-1 GC98H1401 978.636614 5.430074 14.004347
> 19.434421 964.632266 0.000000% 0.000000%
T4-2 GC98H1402 1,000.000000 5.737500 0.000000
> 5.737500 1,000.000000 5.875000% 6.437500%
T4-3 GC98H1403 1,000.000000 6.162500 0.000000
> 6.162500 1,000.000000 6.075000% 6.637500%
T4-4 GC98H1404 1,000.000000 7.673611 0.000000
> 7.673611 1,000.000000 6.525000% 7.087500%
T4-5 GC98H1405 0.000000 0.952960 0.000000
> 0.952960 0.000000 8.125000% 8.687500%
T4-6 GC98H1406 0.000000 0.059883 0.000000
> 0.059883 0.000000 0.000000% 0.000000%
T4-7 GC98H1407 0.000000 0.031157 0.000000
> 0.031157 0.000000 0.000000% 0.000000%
T4-8 GC98H1408 1,000.000000 8,197,568.989478 0.000000 8,1
>97,568.989478 1,000.000000 0.000000% 0.000000%
R4 76110NAJ5 1,000.000000 0.000000 1,000.000000 1,
>000.000000 0.000000 0.000000% 0.000000%
This statement is also available on Bankers Trust's website, http://online.bank
>erstrust.com/invr.
We begin posting statements to the website at 7:00 p.m. EST on the business day
> before each distribution date.
SELLER: Greenwich Capital Financial Products, Inc. ADMI
>NISTRATOR: Richard Ward
SERVICER: Ocwen Federal Bank FSB
> Bankers Trust Company
LEAD UNDERWRITER: Greenwich Capital Markets, Inc.
> 3 Park Plaza
RECORD DATE: November 30, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: December 28, 1998
> FACTOR INFORMATION(800) 735-7777
Page 4 of 8
> (c) COPYRIGHT 1998 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
Statement To Certificateholders
Distribution Date: December 28, 1998
30-59 DAYS 60
>-89 DAYS 90+ DAYS
DELINQUENT LOAN INFORMATION PAST DUE P
>AST DUE PAST DUE Total
PRINCIPAL BALANCE 13,960,919.51
> 0.00 0.00 13,960,919.51
PERCENTAGE OF POOL BALANCE 5.35902%
> 0.00000% 0.00000% 5.35902%
NUMBER OF LOANS 117
> 0 0 117
PERCENTAGE OF POOL LOANS 4.63183%
> 4.63183% 0.00000% 9.26366%
FORECLOSURE LOAN INFORMATION
PRINCIPAL BALANCE 0.00
> 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000%
> 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0
> 0 0 0
PERCENTAGE OF POOL LOANS 0.00000%
> 0.00000% 0.00000% 0.00000%
REO LOAN INFORMATION
PRINCIPAL BALANCE 0.00
> 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000%
> 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0
> 0 0 0
PERCENTAGE OF POOL LOANS 0.00000%
> 0.00000% 0.00000% 0.00000%
BANKRUPTCY LOAN INFORMATION
PRINCIPAL BALANCE 0.00
> 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000%
> 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0
> 0 0 0
PERCENTAGE OF POOL LOANS 0.00000%
> 0.00000% 0.00000% 0.00000%
TOTAL
PRINCIPAL BALANCE 13,960,919.51 13,
>960,919.51 0.00 13,960,919.51
PERCENTAGE OF POOL BALANCE 5.35902%
> 5.35902% 0.00000% 5.35902%
NUMBER OF LOANS 117
> 117 0 117
PERCENTAGE OF POOL LOANS 4.63183%
> 4.63183% 0.00000% 4.63183%
PRIN
>CIPLE BALANCE AS OF
REO LOAN NUMBER UNPAID PRINCIPLE BALANCE THE
>DATE THAT BECAME REO BOOK VALUE
Page 5 of 8
> (c) COPYRIGHT 1998 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
Statement To Certificateholders
Distribution Date: December 28, 1998
COLLECTION ACCOUNT INFORMATION
SOURCES OF PRINCIPAL
SCHEDULED PRINCIPAL RECEIVED
> 152,854.35
CURTAILMENTS AND PRINCIPAL PREPAYMENTS
> 2,514,543.02
REPURCHASES / SUBSTITUTIONS
> 0.00
NET LIQUIDATION PROCEEDS
> 0.00
PORTION OF PURCHASE PRICE OF ALL DEFECTIVE MORTGAGE LOANS
> 0.00
SUBSTITUTION ADJUSTMENTS PURSUANT TO SECTION 2.06
> 0.00
LESS: REALIZED LOSSES
> 0.00
TOTAL PRINCIPAL
> 2,667,397.37
SOURCES OF INTEREST
SCHEDULED INTEREST
> 2,171,976.36
REPURCHASES / SUBSTITUTIONS
> 0.00
LIQUIDATION PROCEEDS
> 0.00
INSURANCE PROCEEDS
> 0.00
OTHER INTEREST
> 0.00
LESS: DELINQUENT INTEREST
> (261,391.73)
LESS: PPIS
> 0.00
LESS: TRUSTEE FEE
> (2,193.16)
LESS: CURRENT SERVICING FEES
> (109,658.22)
LESS: REALIZED LOSSES
> 0.00
PLUS: COMPENSATING INTEREST
> 0.00
PLUS: INTEREST ADVANCED AMOUNT
> 248,854.26
TOTAL INTEREST
> 2,047,587.51
AGGREGATE AMOUNT OF EXTRAORDINARY TRUST FUND EXPENSES
> 0.00
TOTAL REMITTANCE DUE
> 4,793,920.60
EXTRA PRINCIPAL DISTRIBUTION AMOUNT
> 581,515.13
TRUSTEE FEE
> 2,193.16
Page 6 of 8
> (c) COPYRIGHT 1998 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
Statement To Certificateholders
Distribution Date: December 28, 1998
SERVICING FEES
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD:
> 109,658.22
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS:
> 0.00
LESS: DELINQUENT SERVICE FEES:
> (12,537.46)
COLLECTED SERVICING FEES FOR CURRENT PERIOD:
> 97,120.76
EXCESS SERVICING FEES PAID TO THE SELLER
> 19,738.48
POOL INFORMATION
PRIOR PRINCIPAL BALANCE OF POOL:
> 263,179,737.92
CURRENT PRINCIPAL BALANCE OF POOL:
> 260,512,340.56
GROUP FACTOR
> 97.69791%
PRIOR NUMBER OF LOANS:
> 2,552
CURRENT NUMBER OF LOANS:
> 2,526
NUMBER OF LOANS PAID IN FULL:
> 26
CURRENT WEIGHTED AVERAGE MORTGAGE RATE:
> 9.90339%
NEXT WEIGHTED AVERAGE MORTGAGE RATE:
> 9.90606%
WEIGHTED AVERAGE TERM TO MATURITY:
> 342
TRIGGER EVENTS
HAS A TRIGGER EVENT OCCURRED AND CONTINUING?
> NO
HAS AN OVERCOLLATERALIZATION STEPDOWN TRIGGER EVENT OCCURRED
AND CONTINUING?
> NO
OVERCOLLATERALIZATION
OVERCOLLATERALIZATION AMOUNT
> 2,066,386.60
TARGET OVERCOLLATERALIZATION AMOUNT
> 8,666,153.40
OVERCOLLATERALIZATION DEFICIENCY AMOUNT
> 6,599,766.80
Page 7 of 8
> (c) COPYRIGHT 1998 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
Statement To Certificateholders
Distribution Date: December 28, 1998
ALLOCABLE LOSS AMOUNTS
> Prior Current
CLASS M-1
> 0.00 0.00
CLASS M-2
> 0.00 0.00
CLASS B
> 0.00 0.00
CLASS OC
> 0.00 0.00
BASIC RISK SHORTFALL AMOUNT OWING TO EACH CLASS
> Prior Current
CLASS M-1
> 0.00 0.00
CLASS M-2
> 0.00 0.00
CLASS B
> 0.00 0.00
CLASS OC
> 0.00 0.00
AGGREGATE PRINCIPLE BALANCE OF LOANS PURCHASED BY THE MASTER SERVICER OR SELLER
> 0.00
AGGREGATE AMOUNT REPRESENTING COLLECTIONS OF PREPAYMENT PENALTIES CHARGES
> 0.00
BASIS RISK SHORTFALL AMOUNT
> 0.00
AMOUNT ON DEPOSIT IN THE EXCESS RESERVE FUND ACCOUNT
> 1,000.00
INTEREST DISTRIBUTABLE AMOUNTS
> Current
CLASS A
> 1,259,701.14
CLASS M-1
> 91,800.00
CLASS M-2
> 65,729.23
CLASS B
> 61,379.47
Page 8 of 8
> (c) COPYRIGHT 1998 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
REMIC I
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
T1-1 261,317,856.27 255,302,093.76 1,999,523.67 5,091,919.52 7,
>091,443.19 0.00 0.00 250,210,174.24
T1-2 2,666,508.74 2,605,123.40 20,403.30 51,958.36
> 72,361.66 0.00 0.00 2,553,165.04
T1-3 2,666,508.74 2,605,123.40 47,588.79 51,958.36
> 99,547.15 0.00 0.00 2,553,165.04
R1 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 266,650,873.75 260,512,340.56 2,067,515.76 5,195,836.24 7,
>263,352.00 0.00 0.00 255,316,504.32
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
T1-1 976.979137 7.651692 19.485540
> 27.137232 957.493597 9.398389% -282.896401%
T1-2 976.979134 7.651691 19.485539
> 27.137230 957.493595 9.398389% -282.896401%
T1-3 976.979134 17.846853 19.485539
> 37.332392 957.493595 9.398389% -282.896401%
R1 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Greenwich Capital Financial Products, Inc. ADMI
>NISTRATOR: Richard Ward
SERVICER: Ocwen Federal Bank FSB
> Bankers Trust Company
LEAD UNDERWRITER: Greenwich Capital Markets, Inc.
> 3 Park Plaza
RECORD DATE: December 31, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: January 25, 1999
> FACTOR INFORMATION(800) 735-7777
Page 1 of 8
> (c) COPYRIGHT 1999 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
REMIC II
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
T2-1 261,317,856.27 255,302,093.76 1,999,523.67 5,091,919.52 7,
>091,443.19 0.00 0.00 250,210,174.24
T2-2 2,666,508.74 2,605,123.40 18,860.01 51,958.36
> 70,818.37 0.00 0.00 2,553,165.04
T2-3 2,666,508.74 2,605,123.40 47,588.79 51,958.36
> 99,547.15 0.00 0.00 2,553,165.04
T2-4 0.00 0.00 1,543.29 0.00
> 1,543.29 0.00 0.00 0.00
R2 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 266,650,873.75 260,512,340.56 2,067,515.76 5,195,836.24 7,
>263,352.00 0.00 0.00 255,316,504.32
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
T2-1 976.979137 7.651692 19.485540
> 27.137232 957.493597 9.398389% -282.896401%
T2-2 976.979134 7.072923 19.485539
> 26.558462 957.493595 8.687500% -282.896401%
T2-3 976.979134 17.846853 19.485539
> 37.332392 957.493595 9.398389% -282.896401%
T2-4 0.000000 0.005788 0.000000
> 0.005788 0.000000 0.710887% N/A
R2 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Greenwich Capital Financial Products, Inc. ADMI
>NISTRATOR: Richard Ward
SERVICER: Ocwen Federal Bank FSB
> Bankers Trust Company
LEAD UNDERWRITER: Greenwich Capital Markets, Inc.
> 3 Park Plaza
RECORD DATE: December 31, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: January 25, 1999
> FACTOR INFORMATION(800) 735-7777
Page 2 of 8
> (c) COPYRIGHT 1999 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
REMIC III
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
T3-1*263,984,365.01 257,907,217.16 168,710.40 0.00
>168,710.40 0.00 0.00 0.00
T3-2* 2,666,508.74 2,605,123.40 212.29 0.00
> 212.29 0.00 0.00 0.00
T3-3 0.00 0.00 1,543.29 0.00
> 1,543.29 0.00 0.00 0.00
T3-4 231,986,000.00 231,986,000.00 1,679,481.98 0.00 1,
>679,481.98 0.00 0.00 231,986,000.00
T3-5 16,000,000.00 16,000,000.00 115,833.33 0.00
>115,833.33 0.00 0.00 16,000,000.00
T3-6 10,666,000.00 10,666,000.00 77,217.40 0.00
> 0.00 0.00 0.00 10,666,000.00
T3-7 258,652,100.74 258,652,100.74 1,872,533.44 0.00
> 0.00 0.00 0.00 258,652,100.74
T3-8 100.74 100.74 0.73 0.00
> 0.00 0.00 0.00 100.74
R3 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
* Represents a Notional Balance
TOTALS 517,304,201.48 517,304,201.48 3,746,610.17 0.00 1,
>796,858.60 0.00 0.00 517,304,201.48
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
T3-1* 976.979137 0.639092 0.000000
> 0.639092 0.000000 0.812050% 0.000000%
T3-2* 976.979134 0.079613 0.000000
> 0.079613 0.000000 0.101161% 0.000000%
T3-3 0.000000 0.002983 0.000000
> 0.002983 0.000000 0.000000% 0.000000%
T3-4 1,000.000000 7.239583 0.000000
> 7.239583 1,000.000000 8.687500% -282.896401%
T3-5 1,000.000000 7.239583 0.000000
> 7.239583 1,000.000000 8.687500% -282.896401%
T3-6 1,000.000000 7.239584 0.000000
> 7.239584 1,000.000000 8.687500% -282.896401%
T3-7 1,000.000000 7.239583 0.000000
> 7.239583 1,000.000000 8.687500% -282.896401%
T3-8 1,000.000000 7.246377 0.000000
> 7.246377 1,000.000000 8.687500% -282.896401%
R3 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
SELLER: Greenwich Capital Financial Products, Inc. ADMI
>NISTRATOR: Richard Ward
SERVICER: Ocwen Federal Bank FSB
> Bankers Trust Company
LEAD UNDERWRITER: Greenwich Capital Markets, Inc.
> 3 Park Plaza
RECORD DATE: December 31, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: January 25, 1999
> FACTOR INFORMATION(800) 735-7777
Page 3 of 8
> (c) COPYRIGHT 1999 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A 231,986,000.00 223,781,180.96 1,160,476.37 5,873,266.43 7,
>033,742.80 0.00 0.00 217,907,914.53
M-1 16,000,000.00 16,000,000.00 85,550.00 0.00
> 85,550.00 0.00 0.00 16,000,000.00
M-2 10,666,000.00 10,666,000.00 60,896.19 0.00
> 60,896.19 0.00 0.00 10,666,000.00
B 7,998,773.00 7,998,773.00 55,977.52 0.00
> 55,977.52 0.00 0.00 7,998,773.00
OC 0.00 0.00 27,185.49 0.00
> 27,185.49 0.00 0.00 0.00
R4 100.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 266,650,873.00 258,445,953.96 1,390,085.57 5,873,266.43 7,
>263,352.00 0.00 0.00 252,572,687.53
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A 76110NAA4 964.632266 5.002355 25.317331
> 30.319687 939.314935 6.437500% -282.896401%
M-1 76110NAF3 1,000.000000 5.346875 0.000000
> 5.346875 1,000.000000 6.637500% -282.896401%
M-2 76110NAG1 1,000.000000 5.709375 0.000000
> 5.709375 1,000.000000 7.087500% -282.896401%
B 76110NAH9 1,000.000000 6.998263 0.000000
> 6.998263 1,000.000000 8.687500% -282.896401%
OC GC98H1409 0.000000 0.052552 0.000000
> 0.052552 0.000000 0.000000% 0.000000%
T4-1 GC98H1401 964.632266 5.002355 25.317331
> 30.319687 939.314935 0.000000% 0.000000%
T4-2 GC98H1402 1,000.000000 5.346875 0.000000
> 5.346875 1,000.000000 6.437500% -282.896401%
T4-3 GC98H1403 1,000.000000 5.709375 0.000000
> 5.709375 1,000.000000 6.637500% -282.896401%
T4-4 GC98H1404 1,000.000000 6.998263 0.000000
> 6.998263 1,000.000000 7.087500% -282.896401%
T4-5 GC98H1405 0.000000 0.812819 0.000000
> 0.812819 0.000000 8.687500% -282.896401%
T4-6 GC98H1406 0.000000 0.051077 0.000000
> 0.051077 0.000000 0.000000% 0.000000%
T4-7 GC98H1407 0.000000 0.026575 0.000000
> 0.026575 0.000000 0.000000% 0.000000%
T4-8 GC98H1408 1,000.000000 3,384,283.204288 0.000000 3,38
>4,283.204288 1,000.000000 0.000000% 0.000000%
R4 76110NAJ5 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
This statement is also available on Bankers Trust's website, http://online.bank
>erstrust.com/invr.
We begin posting statements to the website at 7:00 p.m. EST on the business day
> before each distribution date.
SELLER: Greenwich Capital Financial Products, Inc. ADMI
>NISTRATOR: Richard Ward
SERVICER: Ocwen Federal Bank FSB
> Bankers Trust Company
LEAD UNDERWRITER: Greenwich Capital Markets, Inc.
> 3 Park Plaza
RECORD DATE: December 31, 1998
> Irvine, CA 92614
DISTRIBUTION DATE: January 25, 1999
> FACTOR INFORMATION(800) 735-7777
Page 4 of 8
> (c) COPYRIGHT 1999 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
Statement To Certificateholders
Distribution Date: January 25, 1999
30-59 DAYS 60
>-89 DAYS 90+ DAYS
DELINQUENT LOAN INFORMATION PAST DUE P
>AST DUE PAST DUE Total
PRINCIPAL BALANCE 5,871,056.69 8,
>490,466.82 0.00 14,361,523.51
PERCENTAGE OF POOL BALANCE 2.29952%
> 3.32547% 0.00000% 5.62499%
NUMBER OF LOANS 57
> 68 0 125
PERCENTAGE OF POOL LOANS 2.29654%
> 2.29654% 2.73973% 4.59307%
FORECLOSURE LOAN INFORMATION
PRINCIPAL BALANCE 0.00
> 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000%
> 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0
> 0 0 0
PERCENTAGE OF POOL LOANS 0.00000%
> 0.00000% 0.00000% 0.00000%
REO LOAN INFORMATION
PRINCIPAL BALANCE 0.00
> 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000%
> 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0
> 0 0 0
PERCENTAGE OF POOL LOANS 0.00000%
> 0.00000% 0.00000% 0.00000%
BANKRUPTCY LOAN INFORMATION
PRINCIPAL BALANCE 0.00
> 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000%
> 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0
> 0 0 0
PERCENTAGE OF POOL LOANS 0.00000%
> 0.00000% 0.00000% 0.00000%
TOTAL
PRINCIPAL BALANCE 5,871,056.69 8,
>490,466.82 0.00 14,361,523.51
PERCENTAGE OF POOL BALANCE 2.29952%
> 3.32547% 0.00000% 5.62499%
NUMBER OF LOANS 57
> 68 0 125
PERCENTAGE OF POOL LOANS 2.29654%
> 2.73973% 0.00000% 5.03626%
PRIN
>CIPLE BALANCE AS OF
REO LOAN NUMBER UNPAID PRINCIPLE BALANCE THE
>DATE THAT BECAME REO BOOK VALUE
Page 5 of 8
> (c) COPYRIGHT 1999 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
Statement To Certificateholders
Distribution Date: January 25, 1999
COLLECTION ACCOUNT INFORMATION
SOURCES OF PRINCIPAL
SCHEDULED PRINCIPAL RECEIVED
> 150,851.88
CURTAILMENTS AND PRINCIPAL PREPAYMENTS
> 5,044,984.36
REPURCHASES / SUBSTITUTIONS
> 0.00
NET LIQUIDATION PROCEEDS
> 0.00
PORTION OF PURCHASE PRICE OF ALL DEFECTIVE MORTGAGE LOANS
> 0.00
SUBSTITUTION ADJUSTMENTS PURSUANT TO SECTION 2.06
> 0.00
LESS: REALIZED LOSSES
> 0.00
TOTAL PRINCIPAL
> 5,195,836.24
SOURCES OF INTEREST
SCHEDULED INTEREST
> 2,151,048.02
REPURCHASES / SUBSTITUTIONS
> 0.00
LIQUIDATION PROCEEDS
> 0.00
INSURANCE PROCEEDS
> 0.00
PREPAYMENT PREMIUMS
> 27,185.49
LESS: DELINQUENT INTEREST
> (252,634.00)
LESS: PPIS
> 0.00
LESS: TRUSTEE FEE
> (2,170.94)
LESS: CURRENT SERVICING FEES
> (108,546.81)
LESS: REALIZED LOSSES
> 0.00
PLUS: COMPENSATING INTEREST
> 0.00
PLUS: INTEREST ADVANCED AMOUNT
> 240,622.69
TOTAL INTEREST
> 2,055,504.45
AGGREGATE AMOUNT OF EXTRAORDINARY TRUST FUND EXPENSES
> 0.00
TOTAL REMITTANCE DUE
> 7,263,352.00
EXTRA PRINCIPAL DISTRIBUTION AMOUNT
> 677,430.19
TRUSTEE FEE
> 2,170.94
Page 6 of 8
> (c) COPYRIGHT 1999 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
Statement To Certificateholders
Distribution Date: January 25, 1999
SERVICING FEES
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD:
> 108,546.81
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS:
> 0.00
LESS: DELINQUENT SERVICE FEES:
> (12,011.31)
COLLECTED SERVICING FEES FOR CURRENT PERIOD:
> 96,535.50
EXCESS SERVICING FEES PAID TO THE SELLER
> 19,538.43
POOL INFORMATION
PRIOR PRINCIPAL BALANCE OF POOL:
> 260,512,340.56
CURRENT PRINCIPAL BALANCE OF POOL:
> 255,316,504.32
GROUP FACTOR
> 95.74936%
PRIOR NUMBER OF LOANS:
> 2,526
CURRENT NUMBER OF LOANS:
> 2,482
NUMBER OF LOANS PAID IN FULL:
> 44
CURRENT WEIGHTED AVERAGE MORTGAGE RATE:
> 9.90839%
NEXT WEIGHTED AVERAGE MORTGAGE RATE:
> 9.91421%
WEIGHTED AVERAGE TERM TO MATURITY:
> 341
TRIGGER EVENTS
HAS A TRIGGER EVENT OCCURRED AND CONTINUING?
> NO
HAS AN OVERCOLLATERALIZATION STEPDOWN TRIGGER EVENT OCCURRED
AND CONTINUING?
> NO
OVERCOLLATERALIZATION
OVERCOLLATERALIZATION AMOUNT
> 2,779,947.79
TARGET OVERCOLLATERALIZATION AMOUNT
> 8,666,153.40
OVERCOLLATERALIZATION DEFICIENCY AMOUNT
> 5,886,205.61
Page 7 of 8
> (c) COPYRIGHT 1999 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
Statement To Certificateholders
Distribution Date: January 25, 1999
ALLOCABLE LOSS AMOUNTS
> Prior Current
CLASS M-1
> 0.00 0.00
CLASS M-2
> 0.00 0.00
CLASS B
> 0.00 0.00
CLASS OC
> 0.00 0.00
BASIC RISK SHORTFALL AMOUNT OWING TO EACH CLASS
> Prior Current
CLASS M-1
> 0.00 0.00
CLASS M-2
> 0.00 0.00
CLASS B
> 0.00 0.00
CLASS OC
> 0.00 0.00
AGGREGATE PRINCIPLE BALANCE OF LOANS PURCHASED BY THE MASTER SERVICER OR SELLER
> 0.00
AGGREGATE AMOUNT REPRESENTING COLLECTIONS OF PREPAYMENT PENALTIES CHARGES
> 0.00
BASIS RISK SHORTFALL AMOUNT
> 0.00
AMOUNT ON DEPOSIT IN THE EXCESS RESERVE FUND ACCOUNT
> 1,000.00
INTEREST DISTRIBUTABLE AMOUNTS
> Current
CLASS A
> 1,160,476.37
CLASS M-1
> 85,550.00
CLASS M-2
> 60,896.19
CLASS B
> 55,977.52
Page 8 of 8
> (c) COPYRIGHT 1999 Bankers Trust Company
Residential Mortgage Loan Trust 1998-1 Certificates
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
A 231,986,000.00 217,907,914.53 1,113,751.56 3,814,471.61 4,
>928,223.17 0.00 0.00 214,093,442.92
M-1 16,000,000.00 16,000,000.00 84,622.22 0.00
> 84,622.22 0.00 0.00 16,000,000.00
M-2 10,666,000.00 10,666,000.00 60,677.69 0.00
> 60,677.69 0.00 0.00 10,666,000.00
B 7,998,773.00 7,998,773.00 56,880.16 0.00
> 56,880.16 0.00 0.00 7,998,773.00
OC 0.00 0.00 47,185.72 0.00
> 47,185.72 0.00 0.00 0.00
R4 100.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 266,650,873.00 252,572,687.53 1,363,117.35 3,814,471.61 5,
>177,588.96 0.00 0.00 248,758,215.92
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
A 76110NAA4 939.314935 4.800943 16.442680
> 21.243623 922.872255 5.750000% 5.687500%
M-1 76110NAF3 1,000.000000 5.288889 0.000000
> 5.288889 1,000.000000 5.950000% 5.887500%
M-2 76110NAG1 1,000.000000 5.688889 0.000000
> 5.688889 1,000.000000 6.400000% 6.337500%
B 76110NAH9 1,000.000000 7.111111 0.000000
> 7.111111 1,000.000000 8.000000% 7.937500%
OC GC98H1409 0.000000 0.091215 0.000000
> 0.091215 0.000000 0.000000% 0.000000%
SELLER: Greenwich Capital Financial Products, Inc. ADMI
>NISTRATOR: Richard Ward
SERVICER: Ocwen Federal Bank FSB
> Bankers Trust Company
LEAD UNDERWRITER:
> 3 Park Plaza
RECORD DATE: January 31, 1999
> Irvine, CA 92614
DISTRIBUTION DATE: February 25, 1999
> FACTOR INFORMATION(800) 735-7777
Page 1 of 5
> (c) COPYRIGHT 1999 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
Statement To Certificateholders
Distribution Date: February 25, 1999
30-59 DAYS 60
>-89 DAYS 90+ DAYS
DELINQUENT LOAN INFORMATION PAST DUE P
>AST DUE PAST DUE Total
PRINCIPAL BALANCE 5,324,781.12 2,
>844,929.68 3,914,824.31 12,084,535.11
PERCENTAGE OF POOL BALANCE 2.11144%
> 1.12810% 1.55235% 4.79190%
NUMBER OF LOANS 55
> 29 40 124
PERCENTAGE OF POOL LOANS 2.24490%
> 2.24490% 1.18367% 5.67347%
FORECLOSURE LOAN INFORMATION
PRINCIPAL BALANCE 31,956.79
> 0.00 4,001,086.05 4,033,042.84
PERCENTAGE OF POOL BALANCE 0.01267%
> 0.00000% 1.58656% 1.59923%
NUMBER OF LOANS 1
> 0 22 23
PERCENTAGE OF POOL LOANS 0.04082%
> 0.00000% 0.89796% 0.93878%
REO LOAN INFORMATION
PRINCIPAL BALANCE 0.00
> 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000%
> 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0
> 0 0 0
PERCENTAGE OF POOL LOANS 0.00000%
> 0.00000% 0.00000% 0.00000%
BANKRUPTCY LOAN INFORMATION
PRINCIPAL BALANCE 0.00
> 0.00 58,365.23 58,365.23
PERCENTAGE OF POOL BALANCE 0.00000%
> 0.00000% 0.02314% 0.02314%
NUMBER OF LOANS 0
> 0 1 1
PERCENTAGE OF POOL LOANS 0.00000%
> 0.00000% 0.04082% 0.04082%
TOTAL
PRINCIPAL BALANCE 5,356,737.91 2,
>844,929.68 7,974,275.59 16,175,943.18
PERCENTAGE OF POOL BALANCE 2.12412%
> 1.12810% 3.16205% 6.41427%
NUMBER OF LOANS 56
> 29 63 148
PERCENTAGE OF POOL LOANS 2.28571%
> 1.18367% 2.57143% 6.04082%
PRIN
>CIPLE BALANCE AS OF
REO LOAN NUMBER UNPAID PRINCIPLE BALANCE THE
>DATE THAT BECAME REO BOOK VALUE
Page 2 of 5
> (c) COPYRIGHT 1999 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
Statement To Certificateholders
Distribution Date: February 25, 1999
COLLECTION ACCOUNT INFORMATION
SOURCES OF PRINCIPAL
SCHEDULED PRINCIPAL RECEIVED
> 150,413.38
CURTAILMENTS AND PRINCIPAL PREPAYMENTS
> 2,979,352.56
REPURCHASES / SUBSTITUTIONS
> 0.00
NET LIQUIDATION PROCEEDS
> 0.00
PORTION OF PURCHASE PRICE OF ALL DEFECTIVE MORTGAGE LOANS
> 0.00
SUBSTITUTION ADJUSTMENTS PURSUANT TO SECTION 2.06
> 0.00
LESS: REALIZED LOSSES
> 0.00
TOTAL PRINCIPAL
> 3,129,765.94
SOURCES OF INTEREST
SCHEDULED INTEREST
> 2,109,146.82
REPURCHASES / SUBSTITUTIONS
> 0.00
LIQUIDATION PROCEEDS
> 0.00
INSURANCE PROCEEDS
> 0.00
PREPAYMENT PREMIUMS
> 47,185.72
LESS: DELINQUENT INTEREST
> (275,413.37)
LESS: PPIS
> 0.00
LESS: TRUSTEE FEE
> (2,127.64)
LESS: CURRENT SERVICING FEES
> (106,381.88)
LESS: REALIZED LOSSES
> 0.00
PLUS: COMPENSATING INTEREST
> 0.00
PLUS: INTEREST ADVANCED AMOUNT
> 262,236.35
TOTAL INTEREST
> 2,034,646.00
AGGREGATE AMOUNT OF EXTRAORDINARY TRUST FUND EXPENSES
> 0.00
TOTAL REMITTANCE DUE
> 5,177,588.96
EXTRA PRINCIPAL DISTRIBUTION AMOUNT
> 684,705.67
TRUSTEE FEE
> 2,127.64
Page 3 of 5
> (c) COPYRIGHT 1999 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
Statement To Certificateholders
Distribution Date: February 25, 1999
SERVICING FEES
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD:
> 106,381.88
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS:
> 0.00
LESS: DELINQUENT SERVICE FEES:
> (13,177.02)
COLLECTED SERVICING FEES FOR CURRENT PERIOD:
> 93,204.86
EXCESS SERVICING FEES PAID TO THE SELLER
> 19,148.74
POOL INFORMATION
PRIOR PRINCIPAL BALANCE OF POOL:
> 255,316,504.32
CURRENT PRINCIPAL BALANCE OF POOL:
> 252,186,738.38
GROUP FACTOR
> 94.57563%
PRIOR NUMBER OF LOANS:
> 2,482
CURRENT NUMBER OF LOANS:
> 2,450
NUMBER OF LOANS PAID IN FULL:
> 32
CURRENT WEIGHTED AVERAGE MORTGAGE RATE:
> 9.91309%
NEXT WEIGHTED AVERAGE MORTGAGE RATE:
> 9.88408%
WEIGHTED AVERAGE TERM TO MATURITY:
> 340
TRIGGER EVENTS
HAS A TRIGGER EVENT OCCURRED AND CONTINUING?
> NO
HAS AN OVERCOLLATERALIZATION STEPDOWN TRIGGER EVENT OCCURRED
AND CONTINUING?
> NO
OVERCOLLATERALIZATION
OVERCOLLATERALIZATION AMOUNT
> 3,428,522.46
TARGET OVERCOLLATERALIZATION AMOUNT
> 8,666,153.40
OVERCOLLATERALIZATION DEFICIENCY AMOUNT
> 5,237,630.94
Page 4 of 5
> (c) COPYRIGHT 1999 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
Statement To Certificateholders
Distribution Date: February 25, 1999
ALLOCABLE LOSS AMOUNTS
> Prior Current
CLASS M-1
> 0.00 0.00
CLASS M-2
> 0.00 0.00
CLASS B
> 0.00 0.00
CLASS OC
> 0.00 0.00
BASIC RISK SHORTFALL AMOUNT OWING TO EACH CLASS
> Prior Current
CLASS M-1
> 0.00 0.00
CLASS M-2
> 0.00 0.00
CLASS B
> 0.00 0.00
CLASS OC
> 0.00 0.00
AGGREGATE PRINCIPLE BALANCE OF LOANS PURCHASED BY THE MASTER SERVICER OR SELLER
> 0.00
AGGREGATE AMOUNT REPRESENTING COLLECTIONS OF PREPAYMENT PENALTIES CHARGES
> 0.00
BASIS RISK SHORTFALL AMOUNT
> 0.00
AMOUNT ON DEPOSIT IN THE EXCESS RESERVE FUND ACCOUNT
> 1,000.00
INTEREST DISTRIBUTABLE AMOUNTS
> Current
CLASS A
> 1,113,751.56
CLASS M-1
> 84,622.22
CLASS M-2
> 60,677.69
CLASS B
> 56,880.16
Page 5 of 5
> (c) COPYRIGHT 1999 Bankers Trust Company
Residential Mortgage Loan Trust 1998-1 Certificates
REMIC I
Statement To Certificateholders
DISTRIBUTIONS IN DOLLARS
PRIOR
> CURRENT
ORIGINAL PRINCIPAL
> REALIZED DEFERRED PRINCIPAL
CLASS FACE VALUE BALANCE INTEREST PRINCIPAL
> TOTAL LOSSES INTEREST BALANCE
T1-1 261,317,856.27 247,143,003.62 2,163,557.33 4,556,661.38 6,
>720,218.71 0.00 0.00 242,586,342.24
T1-2 2,666,508.74 2,521,867.38 22,077.12 46,496.55
> 68,573.67 0.00 0.00 2,475,370.83
T1-3 2,666,508.74 2,521,867.38 58,610.57 46,496.55
>105,107.12 0.00 0.00 2,475,370.83
R1 0.00 0.00 0.00 0.00
> 0.00 0.00 0.00 0.00
TOTALS 266,650,873.75 252,186,738.38 2,244,245.02 4,649,654.48 6,
>893,899.50 0.00 0.00 247,537,083.90
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
> PASS-THROUGH
PRIOR
> CURRENT RATES
PRINCIPAL
> PRINCIPAL ESTIMATED
CLASS CUSIP BALANCE INTEREST PRINCIPAL
> TOTAL BALANCE CURRENT NEXT
T1-1 945.756280 8.279409 17.437237
> 25.716646 928.319043 10.505128% 8.885864%
T1-2 945.756278 8.279410 17.437239
> 25.716649 928.319039 10.505128% 8.885864%
T1-3 945.756278 21.980265 17.437239
> 39.417504 928.319039 10.505128% 8.885864%
R1 0.000000 0.000000 0.000000
> 0.000000 0.000000 0.000000% 0.000000%
This statement is also available on Bankers Trust's website, http://online.bank
>erstrust.com/invr.
We begin posting statements to the website at 7:00 p.m. EST on the business day
> before each distribution date.
SELLER: Greenwich Capital Financial Products, Inc. ADMI
>NISTRATOR: Richard Ward
SERVICER: Ocwen Federal Bank FSB
> Bankers Trust Company
LEAD UNDERWRITER:
> 3 Park Plaza
RECORD DATE: February 28, 1999
> Irvine, CA 92614
DISTRIBUTION DATE: March 25, 1999
> FACTOR INFORMATION(800) 735-7777
Page 1 of 5
> (c) COPYRIGHT 1999 Bankers Trust Company
Residential Mortgage Loan Trust 1998-1 Certificates
Statement To Certificateholders
Distribution Date: March 25, 1999
30-59 DAYS 60
>-89 DAYS 90+ DAYS
DELINQUENT LOAN INFORMATION PAST DUE P
>AST DUE PAST DUE Total
PRINCIPAL BALANCE 6,137,274.62 2,
>666,735.18 1,472,300.24 10,276,310.04
PERCENTAGE OF POOL BALANCE 2.47934%
> 1.07731% 0.59478% 4.15142%
NUMBER OF LOANS 60
> 24 18 102
PERCENTAGE OF POOL LOANS 2.48963%
> 2.48963% 0.99585% 5.97510%
FORECLOSURE LOAN INFORMATION
PRINCIPAL BALANCE 0.00
>104,608.19 4,035,130.77 4,139,738.96
PERCENTAGE OF POOL BALANCE 0.00000%
> 0.04226% 1.63011% 1.67237%
NUMBER OF LOANS 0
> 2 39 41
PERCENTAGE OF POOL LOANS 0.00000%
> 0.08299% 1.61826% 1.70124%
REO LOAN INFORMATION
PRINCIPAL BALANCE 0.00
> 0.00 0.00 0.00
PERCENTAGE OF POOL BALANCE 0.00000%
> 0.00000% 0.00000% 0.00000%
NUMBER OF LOANS 0
> 0 0 0
PERCENTAGE OF POOL LOANS 0.00000%
> 0.00000% 0.00000% 0.00000%
BANKRUPTCY LOAN INFORMATION
PRINCIPAL BALANCE 439,492.26
> 93,474.88 229,985.72 762,952.86
PERCENTAGE OF POOL BALANCE 0.17755%
> 0.03776% 0.09291% 0.30822%
NUMBER OF LOANS 5
> 2 3 10
PERCENTAGE OF POOL LOANS 0.20747%
> 0.08299% 0.12448% 0.41494%
TOTAL
PRINCIPAL BALANCE 6,576,766.88 2,
>864,818.25 5,737,416.73 15,179,001.86
PERCENTAGE OF POOL BALANCE 2.65688%
> 1.15733% 2.31780% 6.13201%
NUMBER OF LOANS 65
> 28 60 153
PERCENTAGE OF POOL LOANS 2.69710%
> 1.16183% 2.48963% 6.34855%
PRIN
>CIPLE BALANCE AS OF
REO LOAN NUMBER UNPAID PRINCIPLE BALANCE THE
>DATE THAT BECAME REO BOOK VALUE
Page 2 of 5
> (c) COPYRIGHT 1999 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
Statement To Certificateholders
Distribution Date: March 25, 1999
COLLECTION ACCOUNT INFORMATION
SOURCES OF PRINCIPAL
SCHEDULED PRINCIPAL RECEIVED
> 148,267.03
CURTAILMENTS AND PRINCIPAL PREPAYMENTS
> 4,501,387.44
REPURCHASES / SUBSTITUTIONS
> 0.00
NET LIQUIDATION PROCEEDS
> 0.00
PORTION OF PURCHASE PRICE OF ALL DEFECTIVE MORTGAGE LOANS
> 0.00
SUBSTITUTION ADJUSTMENTS PURSUANT TO SECTION 2.06
> 0.00
LESS: REALIZED LOSSES
> 0.00
TOTAL PRINCIPAL
> 4,649,654.47
SOURCES OF INTEREST
SCHEDULED INTEREST
> 2,083,401.84
REPURCHASES / SUBSTITUTIONS
> 0.00
LIQUIDATION PROCEEDS
> 0.00
INSURANCE PROCEEDS
> 0.00
PREPAYMENT PREMIUMS
> 36,533.45
LESS: DELINQUENT INTEREST
> (284,983.29)
LESS: PPIS
> 0.00
LESS: TRUSTEE FEE
> (2,101.56)
LESS: CURRENT SERVICING FEES
> (105,077.81)
LESS: REALIZED LOSSES
> 0.00
PLUS: COMPENSATING INTEREST
> 0.00
PLUS: INTEREST ADVANCED AMOUNT
> 270,706.40
TOTAL INTEREST
> 1,998,479.03
AGGREGATE AMOUNT OF EXTRAORDINARY TRUST FUND EXPENSES
> 0.00
TOTAL REMITTANCE DUE
> 6,662,410.39
EXTRA PRINCIPAL DISTRIBUTION AMOUNT
> 813,852.14
TRUSTEE FEE
> 2,101.56
Page 3 of 5
> (c) COPYRIGHT 1999 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
Statement To Certificateholders
Distribution Date: March 25, 1999
SERVICING FEES
ACCRUED SERVICING FEE FOR THE CURRENT PERIOD:
> 105,077.81
LESS: AMOUNTS TO COVER INTEREST SHORTFALLS:
> 0.00
LESS: DELINQUENT SERVICE FEES:
> (14,276.89)
COLLECTED SERVICING FEES FOR CURRENT PERIOD:
> 90,800.92
EXCESS SERVICING FEES PAID TO THE SELLER
> 18,914.01
POOL INFORMATION
PRIOR PRINCIPAL BALANCE OF POOL:
> 252,186,738.38
CURRENT PRINCIPAL BALANCE OF POOL:
> 247,537,083.91
GROUP FACTOR
> 92.83190%
PRIOR NUMBER OF LOANS:
> 2,450
CURRENT NUMBER OF LOANS:
> 2,410
NUMBER OF LOANS PAID IN FULL:
> 40
CURRENT WEIGHTED AVERAGE MORTGAGE RATE:
> 9.91361%
NEXT WEIGHTED AVERAGE MORTGAGE RATE:
> 9.89586%
WEIGHTED AVERAGE TERM TO MATURITY:
> 340
TRIGGER EVENTS
HAS A TRIGGER EVENT OCCURRED AND CONTINUING?
> NO
HAS AN OVERCOLLATERALIZATION STEPDOWN TRIGGER EVENT OCCURRED
AND CONTINUING?
> NO
OVERCOLLATERALIZATION
OVERCOLLATERALIZATION AMOUNT
> 4,242,374.60
TARGET OVERCOLLATERALIZATION AMOUNT
> 8,666,153.40
OVERCOLLATERALIZATION DEFICIENCY AMOUNT
> 4,423,778.80
Page 4 of 5
> (c) COPYRIGHT 1999 Bankers Trust Company
Residential Mortgag
>e Loan Trust 1998-1 Certificates
Statement To Certificateholders
Distribution Date: March 25, 1999
ALLOCABLE LOSS AMOUNTS
> Prior Current
CLASS M-1
> 0.00 0.00
CLASS M-2
> 0.00 0.00
CLASS B
> 0.00 0.00
CLASS OC
> 0.00 0.00
BASIC RISK SHORTFALL AMOUNT OWING TO EACH CLASS
> Prior Current
CLASS A
> 0.00 0.00
CLASS M-1
> 0.00 0.00
CLASS M-2
> 0.00 0.00
CLASS B
> 0.00 0.00
CLASS OC
> 0.00 0.00
AGGREGATE PRINCIPLE BALANCE OF LOANS PURCHASED BY THE MASTER SERVICER OR SELLER
> 0.00
AGGREGATE AMOUNT REPRESENTING COLLECTIONS OF PREPAYMENT PENALTIES CHARGES
> 0.00
BASIS RISK SHORTFALL AMOUNT
> 0.00
AMOUNT ON DEPOSIT IN THE EXCESS RESERVE FUND ACCOUNT
> 1,000.00
INTEREST DISTRIBUTABLE AMOUNTS
> Current
CLASS A
> 980,889.92
CLASS M-1
> 75,883.33
CLASS M-2
> 54,452.15
CLASS B
> 51,144.93
Page 5 of 5
> (c) COPYRIGHT 1999 Bankers Trust Company
