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: August 25, 2000
(Date of earliest event reported)
Commission File No.: 333-68951
GE Capital Mortgage Services, Inc.
--------------------------------------------------------------------------------
New Jersey 21-0627285
--------------------------------------------------------------------------------
(States of Incorporation) (I.R.S. Employer Identification Nos.)
Three Executive Campus
Cherry Hill, New Jersey 08002
--------------------------------------------------------------------------------
Addresses of principal executive offices (Zip Codes)
(856) 661-6100
--------------------------------------------------------------------------------
Registrants' Telephone Numbers, including area code
--------------------------------------------------------------------------------
(Former names, former addresses and former fiscal years,
if changed since last report)
<PAGE>
ITEM 5. Other Events
------------
On August 25, 2000, GE Capital Mortgage Services, Inc., a New Jersey
corporation (the "Registrant"), sold REMIC Mortgage Pass-Through Certificates,
Series 2000-10, Class A1, Class A2, Class A3, Class A4, Class A5, Class A6,
Class A7, Class A8, Class A9, Class A10, Class A11, Class A12, Class A13, Class
A14, Class A15, Class A16, Class A17, Class A18, Class A19, Class A20, Class
A21, Class A22, Class A23, Class A24, Class A25, Class A26, Class R, Class RL,
Class M, Class B1 and Class B2 (the "Offered Certificates"), having an aggregate
original principal balance of $545,837,291.00. The Offered Certificates were
issued pursuant to a Pooling and Servicing Agreement, dated as of August 1,
2000, between the Registrant and State Street Bank and Trust Company, as trustee
(the "Agreement"), a copy of which is filed as an exhibit hereto. REMIC
Mortgage-Pass Through Certificates, Class PO and Class S, having an aggregate
initial principal balance of $2,455,666.61 and Class B3, Class B4 and Class B5,
having an aggregate initial principal balance of $5,528,852.00 (the "Private
Class B Certificates" and, together with the Class PO and Class S Certificates
and the Offered Certificates, the "Certificates"), were also issued pursuant to
the Agreement.
As of the date of initial issuance, the Offered Certificates
evidenced an approximate 98.56% undivided interest in a trust (the "Trust"),
consisting principally of a pool of fixed interest rate, conventional, monthly
pay, fully-amortizing, one- to four-family residential first mortgage loans. The
remaining undivided interests in the Trust are evidenced by the Class PO, Class
S and Private Class B Certificates. Distributions on the Private Class B
Certificates are subordinated to distributions on the Offered Certificates, the
Class PO and Class S Certificates.
Interest on the Offered Certificates will be distributed on each
Distribution Date (as defined in the Agreement). Monthly distributions in
reduction of the principal balance of the Offered Certificates will be allocated
to the Offered Certificates in accordance with the priorities set forth in the
Agreement. Distributions of interest and in reduction of principal balance on
any Distribution Date will be made to the extent that Available Funds are
sufficient therefor.
Elections will be made to treat the Trust as two separate REMICs for
federal income tax purposes (the "Lower-Tier REMIC" and the "Upper-Tier REMIC,"
and each, a "REMIC"). The Class A1, Class A2, Class A3, Class A4, Class A5,
Class A6, Class A7, Class A8, Class A9, Class A10, Class A11, Class A12, Class
A13, Class A14, Class A15, Class A16, Class A17, Class A18, Class A19, Class
A20, Class A21, Class A22, Class A23, Class A24, Class A25, Class A26, Class PO,
Class S, Class M, Class B1, Class B2, Class B3, Class B4 and Class B5
Certificates will be treated as "regular interests" in the Upper-Tier REMIC and
the Class R and Class RL Certificates will be treated as the "residual
interests" in the Upper-Tier REMIC and the Lower-Tier REMIC, respectively.
<PAGE>
ITEM 7. Financial Statements and Exhibits
---------------------------------
(c) Exhibits
Item 601(a)
of Regulation S-K
Exhibit No. Description
----------- -----------
(EX-4) Pooling and Servicing Agreement, dated
as of August 1, 2000, between GE Capital
Mortgage Services, Inc. and State Street
Bank and Trust Company, as trustee.
<PAGE>
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.
GE CAPITAL MORTGAGE SERVICES, INC.
August 25, 2000
By: /s/ Al Gentile
--------------------------------------
Name: Al Gentile
Title: Designated Officer
<PAGE>
INDEX TO EXHIBITS
Paper (P) or
Exhibit No. Description Electronic (E)
----------- ----------- --------------
(EX-4) Pooling and Servicing Agreement, E
dated as of August 1, 2000,
between GE Capital Mortgage
Services, Inc. and State Street
Bank and Trust Company, as
trustee.
