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) July 25, 1997
GE CAPITAL MORTGAGE SERVICES, INC.
(as Seller and Servicer under Pooling and
Servicing Agreements each providing for the
issuance of a Series of Mortgage Pass-Through Certificates)
GE Capital Mortgage Services, Inc.
----------------------------------
(formerly known as Travelers Mortgage Services, Inc.)
(Exact name of registrant as specified in its charter)
New Jersey 33-5042 21-0627285
---------- ------- ----------
(State or Other (Commission (I.R.S. Employer
Jurisdiction of File Number) Identification No.)
Incorporation)
Three Executive Campus
Cherry Hill, New Jersey 08002
----------------------- -----
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including
area code (609) 661-6100
<PAGE>
Item 5. Other Events
- ------- ------------
On July 25, 1997 GE Capital Mortgage Services, Inc. ("GECMSI") passed
through to Certificateholders of Mortgage Pass-Through Certificates principal
and interest payments as required for the various Series of Mortgage
Pass-Through Certificates listed below and as detailed in Item 7, Financial
Statements, Pro Forma Financial Information and Exhibits, of this Report.
Series Distribution on Series
------ ----------------------
Series 1997-01 $ 5,554,987.07
Series 1997-02 $ 6,037,070.40
Series 1997-03 $ 4,671,359.82
Series 1997-HE-1 $ 3,694,087.24
Series 1997-04 $ 3,388,273.78
Series 1997-05 $ 4,393,637.37
Series 1997-06 $ 4,647,159.33
Series 1997-HE-2 $ 2,744,763.46
Item 7. Financial Statements and Exhibits
- ------- ---------------------------------
Attached as Exhibits to Item 7 are the "Servicer's Certificate" and the
"Distribution Date Statement" filed as part of this Report.
Series Exhibit No. Description
------ ----------- -----------
Series 1997-01 99.1 Servicer's Certificate
99.2 Distribution Date Statement
Series 1997-02 99.3 Servicer's Certificate
99.4 Distribution Date Statement
Series 1997-03 99.5 Servicer's Certificate
99.6 Distribution Date Statement
Series 1997-HE-1 99.7 Servicer's Certificate
99.8 Distribution Date Statement
Series 1997-04 99.9 Servicer's Certificate
99.10 Distribution Date Statement
Series 1997-05 99.11 Servicer's Certificate
99.12 Distribution Date Statement
Series 1997-06 99.13 Servicer's Certificate
99.14 Distribution Date Statement
Series 1997-HE-2 99.15 Servicer's Certificate
99.16 Distribution Date Statement
<PAGE>
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.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
------------------------------------
Name: Karen Pickett
Title: Vice President,
Investor Operations
Dated as of : July 25, 1997
<PAGE>
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
----------- -----------
99.1 Series 1997-01 Servicer's Certificate
99.2 Series 1997-01 Distribution Date Statement
99.3 Series 1997-02 Servicer's Certificate
99.4 Series 1997-02 Distribution Date Statement
99.5 Series 1997-03 Servicer's Certificate
99.6 Series 1997-03 Distribution Date Statement
99.7 Series 1997-HE-1 Servicer's Certificate
99.8 Series 1997-HE-1 Distribution Date Statement
99.9 Series 1997-04 Servicer's Certificate
99.10 Series 1997-04 Distribution Date Statement
99.11 Series 1997-05 Servicer's Certificate
99.12 Series 1997-05 Distribution Date Statement
99.13 Series 1997-06 Servicer's Certificate
99.14 Series 1997-06 Distribution Date Statement
99.15 Series 1997-HE-2 Servicer's Certificate
99.16 Series 1997-HE-2 Distribution Date Statement
Exhibit 99.1
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
JULY 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-1
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
(a) Principal ...................$ 201,274.19
(b) Interest ....................$ 1,946,496.37
(c) Total .......................$ 2,147,770.56
2. Aggregate Monthly Payments Received and Monthly Advances made
this month:
(a) Principal ...................$ 201,274.19
(b) Interest ....................$ 1,886,656.57
(c) Total .......................$ 2,087,930.76
3. Aggregate Principal Prepayments in part received and applied in
prior month:.......................$ 42,388.68
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ...................$ 3,403,695.49
(b) Interest ....................$ 20,972.14
(c) Total .......................$ 3,424,667.63
5. Aggregate Insurance Proceeds for prior month:
(a) Principal ...................$ 0.00
(b) Interest ....................$ 0.00
(c) Total .......................$ 0.00
<PAGE>
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal ...................$ 0.00
(b) Interest ....................$ 0.00
(c) Total .......................$ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage
Loans:
(a) Principal ...................$ 0.00
(b) Interest ....................$ 0.00
(c) Total .......................$ 0.00
8. Aggregate Purchase Prices ( and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal ...................$ 0.00
(b) Interest ....................$ 0.00
(c) Total .......................$ 0.00
9. Pool Scheduled Principal Balance:..$ 286,878,374.91
10. Available Funds: .................$ 5,554,987.07
11. Realized Losses for prior month: ..$ 0.00
12. Aggregate Realized Losses:
(a) Deficient Valuations: .........$ 0.00
(b) Special Hazard Losses: ........$ 0.00
(c) Fraud Losses: .................$ 0.00
(d) Excess Bankruptcy Losses: .....$ 0.00
(e) Excess Special Hazard Losses: .$ 0.00
(f) Excess Fraud Losses: ..........$ 0.00
(g) Debt Service Reductions: ......$ 0.00
13. Compensating Interest Payment: ....$ 2,189.72
14. Accrued Certificate Interest, Unpaid Class Interest Shortfalls
and Pay-out Rate:
Class 1-A1.....$ 63,232.51 $ 0.00 7.35000000%
Class 1-A2.....$ 131,975.38 $ 0.00 7.35000000%
Class 1-A3.....$ 366,912.00 $ 0.00 7.35000000%
Class 1-A4.....$ 487,648.00 $ 0.00 7.35000000%
Class 1-A5.....$ 74,729.52 $ 0.00 6.25000014%
Class 1-A6.....$ 14,536.46 $ 0.00 6.25000072%
Class 1-A7 ....$ 39,277.03 $ 0.00 2.75000002%
Class 1-A8.....$ 157,156.25 $ 0.00 7.50000000%
Class 1-A9.....$ 145,000.00 $ 0.00 7.25000000%
<PAGE>
Class 1-A10....$ 1,600.00 $ 0.00 0.08000000%
Class 1-A11....$ 3,400.00 $ 0.00 0.17000000%
Class 1-A12....$ 21,750.00 $ 0.00 7.50000000%
Class 1-A13....$ 0.00 $ 0.00 7.50000000%
Class 1-A14....$ 193,750.00 $ 0.00 7.50000000%
Class 1-A15....$ 15,625.00 $ 0.00 7.50000000%
Class 1-M......$ 28,036.17 $ 0.00 7.50000000%
Class 1-B1.....$ 23,364.52 $ 0.00 7.50000000%
Class 1-B2.....$ 20,555.29 $ 0.00 7.50000000%
Class 1-B3.....$ 8,415.21 $ 0.00 7.50000000%
Class 1-B4.....$ 5,605.99 $ 0.00 7.50000000%
Class 1-B5.....$ 7,478.48 $ 0.00 7.50000000%
Class 1-S......$ 95,645.13 $ 0.00 0.43397187%
Class 1-RL.....$ 0.63 $ 0.00 7.50000000%
Class 1-R......$ 0.63 $ 0.00 7.50000000%
15. Accrual Amount:
Class 1-A13A........ $ 0.00
Class 1-A13B........ $ 1,934.33
16. Principal distributable:
Class 1-A1........ $ 3,307,569.46
Class 1-A2........ $ 0.00
Class 1-A3........ $ 0.00
Class 1-A4........ $ 0.00
Class 1-A5........ $ 330,756.95
Class 1-A6........ $ 0.00
Class 1-A7........ $ 0.00
Class 1-A8........ $ 0.00
Class 1-A9........ $ 0.00
Class 1-A10....... $ 0.00
Class 1-A11....... $ 0.00
Class 1-A12....... $ 0.00
Class 1-A13....... $ 0.00
Class 1-A14....... $ 0.00
Class 1-A15....... $ 0.00
Class 1-PO........ $ 610.54
Class 1-M......... $ 3,106.66
Class 1-B1........ $ 2,589.00
Class 1-B2........ $ 2,277.71
Class 1-B3........ $ 932.48
Class 1-B4........ $ 621.19
Class 1-B5........ $ 828.70
Class 1-R......... $ 0.00
Class 1-RL........ $ 0.00
17. Additional distributions to the Class 1-R Certificate pursuant to
Section 4.01(b): .................$ 0.00
<PAGE>
18. Additional distributions to the Class 1-RL Certificate pursuant
to Section 4.01(b): ..............$ 0.00
19. Certificate Interest Rates of:
Class 1-S Certificates:........... 0.395100%
20. Draw Amount:
Class A9..........................$ 0.00
Class A10.........................$ 0.00
21. Distributions of amounts in Reserve Fund to Senior Certificates
(other than the Class PO Certificates) and the Class S
Certificates pursuant to the second paragraph of Section 4.01(g):
Class A1 $ 0.00
Class A2 $ 0.00
Class A3 $ 0.00
Class A4 $ 0.00
Class A5 $ 0.00
Class A6 $ 0.00
Class A7 $ 0.00
Class A8 $ 0.00
Class A9 $ 0.00
Class A10 $ 0.00
Class A11 $ 0.00
Class A12 $ 0.00
Class A13 $ 0.00
Class A14 $ 0.00
Class A15 $ 0.00
Class R $ 0.00
Class RL $ 0.00
Class S $ 0.00
B. Other Amounts:
1. Senior Percentage for such Distribution Date: ...... 94.842355%
2. Group I Senior Percentage for such Distribution Date: 94.842355%
3. Group II Senior Percentage for such Distribution Date: 0.000000%
4. Senior Prepayment Percentage for such Distribution
Date: .............................................. 100.000000%
<PAGE>
5. Group I Senior Prepayment Percentage for such
Distribution Date: ................................. 100.000000%
6. Group II Senior Prepayment Percentage for such
Distribution Date: ................................ 0.000000%
7. Junior Percentage for such Distribution Date: ...... 5.157645%
8. Junior Prepayment Percentage for such Distribution
Date: .............................................. 0.000000%
9. Subordinate Certificate Writedown Amount for such
Distribution Date: .................................$ 0.00
10. Prepayment Distribution Triggers satisfied:
YES NO
--- --
Class 1-B1....... X
Class 1-B2....... X
Class 1-B3....... X
Class 1-B4....... X
Class 1-B5....... X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
-----------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.2
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
JULY 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-1
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
The amounts below (other than for Class R) are for a Single Certificate of
$1,000:
1. The amount of such distribution allocable to principal:
Class 1-A1.....$ 241.72838266 Class 1-A13......$ 0.00000000
Class 1-A2.....$ 0.00000000 Class 1-A14......$ 0.00000000
Class 1-A3.....$ 0.00000000 Class 1-A15......$ 0.00000000
Class 1-A4.....$ 0.00000000 Class 1-PO.......$ 0.98896898
Class 1-A5.....$ 22.52498978 Class 1-M........$ 0.69021551
Class 1-A6.....$ 0.00000000 Class 1-B1.......$ 0.69021594
Class 1-A7.....$ 0.00000000 Class 1-B2.......$ 0.69021515
Class 1-A8.....$ 0.00000000 Class 1-B3.......$ 0.69021466
Class 1-A9.....$ 0.00000000 Class 1-B4.......$ 0.69021111
Class 1-A10....$ 0.00000000 Class 1-B5.......$ 0.69022990
Class 1-A11....$ 0.00000000 Class 1-R........$ 0.00000000
Class 1-A12....$ 0.00000000 Class 1-RL.......$ 0.00000000
2. Principal Prepayments included in the above principal distribution
(including the Scheduled Principal Balances of all Defaulted Mortgage
Loans and Defective Mortgage Loans purchased pursuant to Section 2.02,
2.03 (b) or 3.16, respectively, and any amounts deposited pursuant to
Section 2.03(b) in connection with the substitution of any Mortgage
Loans pursuant to Section 2.02 or 2.03(a), the proceeds of which are
being distributed on such Distribution Date):
Class 1-A1.....$ 229.03925016 Class 1-A13......$ 0.00000000
Class 1-A2.....$ 0.00000000 Class 1-A14......$ 0.00000000
Class 1-A3.....$ 0.00000000 Class 1-A15......$ 0.00000000
Class 1-A4.....$ 0.00000000 Class 1-PO.......$ 0.93705469
Class 1-A5.....$ 21.34257762 Class 1-M........$ 0.00000000
Class 1-A6.....$ 0.00000000 Class 1-B1.......$ 0.00000000
Class 1-A7.....$ 0.00000000 Class 1-B2.......$ 0.00000000
Class 1-A8.....$ 0.00000000 Class 1-B3.......$ 0.00000000
<PAGE>
Class 1-A9.....$ 0.00000000 Class 1-B4.......$ 0.00000000
Class 1-A10....$ 0.00000000 Class 1-B5.......$ 0.00000000
Class 1-A11....$ 0.00000000 Class 1-R........$ 0.00000000
Class 1-A12....$ 0.00000000 Class 1-RL.......$ 0.00000000
3. The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 1-A1.....$ 4.62124607 Class 1-A13......$ 0.00000000
Class 1-A2.....$ 6.12500023 Class 1-A14......$ 6.25000000
Class 1-A3.....$ 6.12500000 Class 1-A15......$ 6.25000000
Class 1-A4.....$ 6.12500000 Class 1-M........$ 6.22887581
Class 1-A5.....$ 5.08918006 Class 1-B1.......$ 6.22887763
Class 1-A6.....$ 5.20833393 Class 1-B2.......$ 6.22887576
Class 1-A7.....$ 2.24761259 Class 1-B3.......$ 6.22887491
Class 1-A8.....$ 6.25000000 Class 1-B4.......$ 6.22887778
Class 1-A9.....$ 6.04166667 Class 1-B5.......$ 6.22887717
Class 1-A10....$ 0.06666667 Class 1-R........$ 6.30000000
Class 1-A11....$ 0.14166667 Class 1-RL.......$ 6.30000000
Class 1-A12....$ 6.25000000 Class 1-S........$ 0.31874361
4. Accrual Amount:
Class A13A $ 0.00
Class A13B $ 1,934.33
5. The amount of servicing compensation received by the Company during
the month preceding the month of distribution: $ 60,461.46
The amounts below are for the aggregate of all Certificates.
6. The Pool Scheduled Principal Balances of each Mortgage Pool on the
preceding Due Date after giving effect to all distributions allocable
to principal made on such Distribution Date: ...$ 286,878,374.91
The aggregate number of Mortgage Loans included in the
Scheduled Principal Balance set forth above:.... 998
<PAGE>
7. The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to (i) all distributions allocable to principal
made on such Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date:
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 1-A1...............$ 7,016,105.59 $ 512.76
Class 1-A2...............$ 21,547,000.00 $ 1,000.00
Class 1-A3...............$ 59,904,000.00 $ 1,000.00
Class 1-A4...............$ 79,616,000.00 $ 1,000.00
Class 1-A5...............$ 14,017,310.56 $ 954.60
Class 1-A6...............$ 2,791,000.00 $ 1,000.00
Class 1-A7...............$ 16,808,310.56 $ 961.85
Class 1-A8...............$ 25,145,000.00 $ 1,000.00
Class 1-A9...............$ 24,000,000.00 $ 1,000.00
Class 1-A10..............$ 24,000,000.00 $ 1,000.00
Class 1-A11..............$ 24,000,000.00 $ 1,000.00
Class 1-A12..............$ 3,480,000.00 $ 1,000.00
Class 1-A13..............$ 311,427.29 $ 51.07
Class 1-A14..............$ 31,000,000.00 $ 1,000.00
Class 1-A15..............$ 2,500,000.00 $ 1,000.00
Class 1-PO...............$ 607,780.77 $ 984.50
Class 1-M................$ 4,482,681.17 $ 995.93
Class 1-B1...............$ 3,735,733.63 $ 995.93
Class 1-B2...............$ 3,286,569.18 $ 995.93
Class 1-B3...............$ 1,345,501.50 $ 995.93
Class 1-B4...............$ 896,337.04 $ 995.93
Class 1-B5...............$ 1,195,728.18 $ 995.93
Class 1-R................$ 100.00 $ 1,000.00
Class 1-RL...............$ 100.00 $ 1,000.00
Class 1-S................$ 260,850,743.30 $ 953.34
8. The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in lieu of
foreclosure or otherwise, of any REO Mortgage Loan:
book value..................................$ 0.00
unpaid principal balance....................$ 0.00
number of related mortgage loans............ 0
<PAGE>
9. The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the month
preceding the related Determination Date, were:
(a) delinquent
(1) 30-59 days
Number 9 Principal Balance $ 2,674,090.89
(2) 60-89 days
Number 1 Principal Balance $ 324,121.97
(3) 90 days or more
Number 3 Principal Balance $ 974,794.57
(b) in foreclosure
Number 1 Principal Balance $ 300,975.81
10. The Scheduled Principal Balance of any Mortgage Loan replaced pursuant
to Section 2.03(b), and of any Modified Mortgage Loan purchased
pursuant to Section 3.01(c): .............. $ 0.00
11. The Certificate Interest Rates, applicable to the Interest Accrual
Period relating to such Distribution Date:
Class 1-S: ...................................0.395100%
1. Senior Percentage for such Distribution Date: ...... 94.84235500%
2. Group I Senior Percentage for such Distribution
Date: .............................................. 94.84235500%
3. Group II Senior Percentage for such Distribution
Date: .............................................. 0.00000000%
4. Senior Prepayment Percentage for such Distribution
Date: ..............................................100.00000000%
5. Group I Senior Prepayment Percentage for such
Distribution Date: .................................100.00000000%
6. Group II Senior Prepayment Percentage for such
Distribution Date: ................................. 0.00000000%
7. Junior Percentage for such Distribution Date: ...... 5.15764500%
8. Junior Prepayment Percentage for such Distribution
Date: .............................................. 0.00000000%
Exhibit 99.3
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
JULY 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-2
Pursuant to the Pooling and Servicing Agreement dated as of February 1,
1997 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company") and State Street Bank and Trust Company (the "Trustee"), governing
the Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
Pool 1 Pool 2
------ ------
(a) Principal ....$ 310,710.63 $ 277,193.36
(b) Interest .....$ 2,942,083.93 $ 556,949.63
(c) Total ........$ 3,252,794.56 $ 834,142.99
2. Aggregate Monthly Payments Received and Monthly Advances made
this month:
(a) Principal ....$ 310,710.63 $ 277,193.36
(b) Interest .....$ 2,852,104.94 $ 538,490.40
(c) Total ........$ 3,162,815.57 $ 815,683.76
3. Aggregate Principal Prepayments in part received and applied in
the applicable Prepayment Period:
$ 150,967.40 $ 29,281.73
4. Aggregate Principal Prepayments in full received in the
applicable Prepayment Period:
(a) Principal ...$ 1,646,053.74 $ 221,088.23
(b) Interest ....$ 9,776.70 $ 1,403.27
(c) Total .......$ 1,655,830.44 $ 222,491.50
<PAGE>
5. Aggregate Insurance Proceeds (including purchases of Mortgage
Loans by primary mortgage insurers) for prior month:
Pool 1 Pool 2
------ ------
(a) Principal ...$ 0.00 $ 0.00
(b) Interest ....$ 0.00 $ 0.00
(c) Total .......$ 0.00 $ 0.00
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal ...$ 0.00 $ 0.00
(b) Interest ....$ 0.00 $ 0.00
(c) Total .......$ 0.00 $ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage
Loans:
(a) Principal ...$ 0.00 $ 0.00
(b) Interest ....$ 0.00 $ 0.00
(c) Total .......$ 0.00 $ 0.00
8. Aggregate Purchase Prices (and subsitution adjustments) for
Defective Mortgage Loans:
(a) Principal ...$ 0.00 $ 0.00
(b) Interest ....$ 0.00 $ 0.00
(c) Total .......$ 0.00 $ 0.00
9. Pool Scheduled Principal Balance:
$ 439,631,225.50 $ 86,367,461.30
10. Available Funds: ...$ 4,969,613.41 $ 1,067,456.99
11. Realized Losses for Prior Month:
$ 0.00 $ 0.00
12. Aggregrate Realized Losses and Debt Service Reductions:
Pool 1 Pool 2
------ ------
(a) Deficient Valuations: $ 0.00 $ 0.00
(b) Special Hazard Losses: $ 0.00 $ 0.00
(c) Fraud Losses: ......... $ 0.00 $ 0.00
(d) Excess Bankruptcy Losses $ 0.00 $ 0.00
(e) Excess Special Hazard
Losses: .............. $ 0.00 $ 0.00
(f) Excess Fraud Losses: .. $ 0.00 $ 0.00
(g) Debt Service Reductions: $ 0.00 $ 0.00
<PAGE>
13. Compensating Interest Payment:$ 1,940.63 $ 188.47
14. Accrued Certificate Interest, unpaid Class Interest Shortfalls
and Pay-out Rate:
Class 1-A1...... $ 278,136.18 $ 0.00 6.50000000%
Class 1-A2...... $ 369,154.15 $ 0.00 6.75000000%
Class 1-A3...... $ 32,593.78 $ 0.00 7.50000000%
Class 1-A4...... $ 333,368.23 $ 0.00 7.00000000%
Class 1-A5...... $ 154,390.27 $ 0.00 7.50000000%
Class 1-A6...... $ 114,878.82 $ 0.00 7.50000000%
Class 1-A7...... $ 371,175.92 $ 0.00 7.50000000%
Class 1-A8...... $ 35,454.47 $ 0.00 7.00000000%
Class 1-A9...... $ 10,129.85 $ 0.00 10.00000000%
Class 1-A10..... $ 53,777.59 $ 0.00 7.50000000%
Class 1-A11..... $ 151,713.62 $ 0.00 7.50000000%
Class 1-A12..... $ 36,793.61 $ 0.00 7.50000000%
Class 1-A13..... $ 11,315.00 $ 0.00 7.75000000%
Class 1-A14..... $ 1,460.00 $ 0.00 6.00000000%
Class 1-A15..... $ 39,632.02 $ 0.00 7.50000000%
Class 1-A16..... $ 261,780.40 $ 0.00 7.50000000%
Class 1-A17..... $ 18,698.60 $ 0.00 7.50000000%
Class 1-S....... $ 107,470.24 $ 0.00 0.32864394%
Class 1-M....... $ 56,139.43 $ 0.00 7.50000000%
Class 1-B1...... $ 28,066.60 $ 0.00 7.50000000%
Class 1-B2...... $ 28,066.60 $ 0.00 7.50000000%
Class 1-B3...... $ 14,036.42 $ 0.00 7.50000000%
Class 1-B4...... $ 4,213.42 $ 0.00 7.50000000%
Class 1-B5...... $ 9,827.21 $ 0.00 7.50000000%
Class 1-R....... $ 0.00 $ 0.00 7.50000000%
Class 1-RL...... $ 0.00 $ 0.00 7.50000000%
Class 2-A1...... $ 81,740.63 $ 0.00 7.00000000%
Class 2-A2...... $ 71,299.58 $ 0.00 6.50000000%
Class 2-A3...... $ 69,501.25 $ 0.00 6.50000000%
Class 2-A4...... $ 10,830.83 $ 0.00 7.00000000%
Class 2-A5...... $ 142,313.53 $ 0.00 7.00000000%
Class 2-A6...... $ 64,349.06 $ 0.00 7.00000000%
Class 2-A7...... $ 51,853.90 $ 0.00 7.00000000%
Class 2-S....... $ 33,740.86 $ 0.00 0.49934566%
Class 2-M....... $ 5,186.92 $ 0.00 7.00000000%
Class 2-B1...... $ 2,593.46 $ 0.00 7.00000000%
Class 2-B2...... $ 2,593.46 $ 0.00 7.00000000%
Class 2-B3...... $ 1,556.07 $ 0.00 7.00000000%
Class 2-B4...... $ 1,037.38 $ 0.00 7.00000000%
Class 2-B5...... $ 1,296.74 $ 0.00 7.00000000%
<PAGE>
15. Principal Distribution Amount:
Class 1-A1...... $ 0.00 Class 2-A1........$ 347,703.98
Class 1-A2...... $ 0.00 Class 2-A2........$ 0.00
Class 1-A3...... $ 0.00 Class 2-A3........$ 0.00
Class 1-A4...... $ 820,814.09 Class 2-A4.......$ 0.00
Class 1-A5...... $ 393,602.43 Class 2-A5.......$ 143,274.81
Class 1-A6...... $ 304,124.71 Class 2-A6.......$ 0.00
Class 1-A7...... $ 697,727.13 Class 2-A7........$ 28,354.65
Class 1-A8...... $ 1,319.19 Class 2-PO........$ 430.14
Class 1-A9...... $ 263.84 Class 2-M.........$ 2,836.27
Class 1-A10..... $ 870.16 Class 2-B1........$ 1,418.13
Class 1-A11..... $ 177,607.26 Class 2-B2........$ 1,418.13
Class 1-A12..... $ 0.00 Class 2-B3........$ 850.88
Class 1-A13..... $ 0.00 Class 2-B4........$ 567.25
Class 1-A14..... $ 0.00 Class 2-B5........$ 709.07
Class 1-A15..... $ 2,373.72
Class 1-A16..... $ 29,453.34
Class 1-A17..... $ 2,103.81
Class 1-PO...... $ 1,290.10
Class 1-M....... $ 6,316.43
Class 1-B1...... $ 3,157.86
Class 1-B2...... $ 3,157.86
Class 1-B3...... $ 1,579.28
Class 1-B4...... $ 474.07
Class 1-B5...... $ 1,105.71
Class 1-R....... $ 0.00
Class 1-RL...... $ 0.00
16. Additional Distributions to the Class R Certificate pursuant to
Section 4.01 (c): ...........................$ 0.00
17. Additional Distributions to the Class RL Certificate pursuant to
Section 2.05 (d): ...........................$ 0.00
18. Certificate Interest Rate of:
Class 1-A8................................... 7.00000000%
Class 1-A9................................... 10.00000000%
Class 1-S.................................... 0.32864394%
Class 2-S.................................... 0.49934566%
B. Other Amounts for such Distribution Date:
Pool 1 Pool 2
------ ------
1. Senior Percentage: ...........94.90450000% 97.18190000%
2. Group I Senior Percentage: ...84.72164779% 86.93716100%
3. Group II Senior Percentage: ..10.18285221% 10.24473900%
<PAGE>
Pool 1 Pool 2
------ ------
4. Senior Prepayment Percentage: 100.00000000% 100.00000000%
5. Group I Senior Prepayment
Percentage: ................ 100.00000000% 100.00000000%
6. Group II Senior Prepayment
Percent: ................... 0.00000000% 0.00000000%
7. Group I Scheduled Distribution
Percent: ................... 0.00000000% N/A
8. Group II Scheduled Distribution
Percentage:................. 0.00000000% N/A
9. Junior Percentage: ........ 5.09550000% 2.81810000%
10. Junior Prepayment Percentage: 0.00000000% 0.00000000%
11. Subordinate Certificate
Writedown: ................$ 0.00 $ 0.00
12. Prepayment Triggers satisfied: YES NO
--- ---
Class 1-B1.................. X
Class 1-B2.................. X
Class 1-B3.................. X
Class 1-B4.................. X
Class 1-B5.................. X
Class 2-B1.................. X
Class 2-B2.................. X
Class 2-B3.................. X
Class 2-B4.................. X
Class 2-B5.................. X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
------------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.4
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
JULY 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-2
Pursuant to the Pooling and Servicing Agreement dated as of February 1,
1997 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company") and State Street Bank and Trust Company (the "Trustee"), governing
the Certificates referred to above, the Company hereby certifies to the Trustee:
(a) The amounts below are for a Single Certificate of $1,000.
i) The amount of such distribution allocable to principal:
Class 1-A1.....$ 0.00000000 Class 2-A1....$ 22.80923511
Class 1-A2.....$ 0.00000000 Class 2-A2....$ 0.00000000
Class 1-A3.....$ 0.00000000 Class 2-A3....$ 0.00000000
Class 1-A4.....$ 13.84754993 Class 2-A4....$ 0.00000000
Class 1-A5.....$ 15.63089327 Class 2-A5....$ 5.77744304
Class 1-A6.....$ 16.21961862 Class 2-A6....$ 0.00000000
Class 1-A7.....$ 7.26666772 Class 2-A7....$ 3.15051667
Class 1-A8.....$ 0.17589200 Class 2-PO....$ 3.36622816
Class 1-A9.....$ 0.17589333 Class 2-M.....$ 3.15048347
Class 1-A10....$ 0.09118834 Class 2-B1....$ 3.15047586
Class 1-A11....$ 7.10429040 Class 2-B2....$ 3.15047586
Class 1-A12....$ 0.00000000 Class 2-B3....$ 3.15048560
Class 1-A13....$ 0.00000000 Class 2-B4....$ 3.15046125
Class 1-A14....$ 0.00000000 Class 2-B5....$ 3.15046616
Class 1-A15....$ 0.26671011
Class 1-A16....$ 0.70127000
Class 1-A17....$ 0.70127000
Class 1-PO.....$ 0.57286856
Class 1-M......$ 0.70128012
Class 1-B1.....$ 0.70127915
Class 1-B2.....$ 0.70127915
Class 1-B3.....$ 0.70127886
Class 1-B4.....$ 0.70128698
Class 1-B5.....$ 0.70129218
Class 1-R......$ 0.00000000
Class 1-RL.....$ 0.00000000
<PAGE>
Principal Prepayments included in the above principal distribution
(including amounts deposited pursuant to Section 3.17, Scheduled Principal
Balances of Defaulted Mortgage Loans, Designated Loans and Defective
Mortgage Loans which are being distributed on this Distribution Date):
Class 1-A1.....$ 0.00000000 Class 2-A1....$ 10.98720156
Class 1-A2.....$ 0.00000000 Class 2-A2....$ 0.00000000
Class 1-A3.....$ 0.00000000 Class 2-A3....$ 0.00000000
Class 1-A4.....$ 11.89533791 Class 2-A4....$ 0.00000000
Class 1-A5.....$ 13.42726751 Class 2-A5....$ 2.78299254
Class 1-A6.....$ 13.93299503 Class 2-A6....$ 0.00000000
Class 1-A7.....$ 6.24222108 Class 2-A7....$ 1.51760291
Class 1-A8.....$ 0.15109494 Class 2-PO....$ 1.62151107
Class 1-A9.....$ 0.15109609 Class 2-B1....$ 0.00000000
Class 1-A10....$ 0.07833271 Class 2-B2....$ 0.00000000
Class 1-A11....$ 6.10273553 Class 2-B3....$ 0.00000000
Class 1-A12....$ 0.00000000 Class 2-B4....$ 0.00000000
Class 1-A13....$ 0.00000000 Class 2-B5....$ 0.00000000
Class 1-A14....$ 0.00000000
Class 1-A15....$ 0.22910962
Class 1-A16....$ 0.60240574
Class 1-A17....$ 0.60240574
Class 1-PO.....$ 0.49210619
Class 1-M......$ 0.00000000
Class 1-B1.....$ 0.00000000
Class 1-B2.....$ 0.00000000
Class 1-B3.....$ 0.00000000
Class 1-B4.....$ 0.00000000
Class 1-B5.....$ 0.00000000
Class 1-R......$ 0.00000000
Class 1-RL.....$ 0.00000000
ii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest; Pay-out Rate:
Class 1-A1.....$ 5.41666665 6.50000000%
Class 1-A2.....$ 5.62499995 6.75000000%
Class 1-A3.....$ 6.24999976 7.50000000%
Class 1-A4.....$ 5.62409109 7.00000000%
Class 1-A5.....$ 6.13120664 7.50000000%
Class 1-A6.....$ 6.12673218 7.50000000%
Class 1-A7.....$ 3.86571191 7.50000000%
Class 1-A8.....$ 4.72726267 7.00000000%
Class 1-A9.....$ 6.75323333 10.00000000%
Class 1-A10....$ 5.63561782 7.50000000%
Class 1-A11....$ 6.06854480 7.50000000%
Class 1-A12....$ 6.25000064 7.50000000%
Class 1-A13....$ 6.45833333 7.75000000%
Class 1-A14....$ 5.00000000 6.00000000%
<PAGE>
Class 1-A15....$ 4.45303596 7.50000000%
Class 1-A16....$ 6.23286667 7.50000000%
Class 1-A17....$ 6.23286667 7.50000000%
Class 1-S......$ 0.23863531 0.32864394%
Class 1-M......$ 6.23286666 7.50000000%
Class 1-B1.....$ 6.23286698 7.50000000%
Class 1-B2.....$ 6.23286698 7.50000000%
Class 1-B3.....$ 6.23286856 7.50000000%
Class 1-B4.....$ 6.23286982 7.50000000%
Class 1-B5.....$ 6.23286894 7.50000000%
Class 1-R......$ 0.00000000 7.50000000%
Class 1-RL.....$ 0.00000000 7.50000000%
Class 2-A1.....$ 5.36215101 7.00000000%
Class 2-A2.....$ 5.41666641 6.50000000%
Class 2-A3.....$ 5.41666667 6.50000000%
Class 2-A4.....$ 5.83333244 7.00000000%
Class 2-A5.....$ 5.73868019 7.00000000%
Class 2-A6.....$ 5.14225063 7.00000000%
Class 2-A7.....$ 5.76154444 7.00000000%
Class 2-S......$ 0.37425677 0.49934566%
Class 2-M......$ 5.76154799 7.00000000%
Class 2-B1.....$ 5.76155439 7.00000000%
Class 2-B2.....$ 5.76155439 7.00000000%
Class 2-B3.....$ 5.76153644 7.00000000%
Class 2-B4.....$ 5.76152577 7.00000000%
Class 2-B5.....$ 5.76154045 7.00000000%
iii) The amount of servicing compensation preceding the month of
distribution:
Pool 1 Pool 2
------ ------
$ 89,792.21 $ 17,718.63
(b) The amounts below are for the aggregate of all certificates.
iv) The Pool Scheduled Principal Balances: $439,631,225.50 $86,367,461.30
Number of Mortgage Loans: 1,503 282
v) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to all distributions allocable to principal made
on such Distribution Date and the allocation of Realized Losses
(separately identified), if any, as of such Distribution Date:
Aggregate Principal Balance Single Certificate Balance
--------------------------- --------------------------
Class 1-A1........$ 51,348,218.00 $ 1,000.00
Class 1-A2........$ 65,627,405.00 $ 1,000.00
Class 1-A3........$ 5,215,005.00 $ 1,000.00
Class 1-A4........$ 56,328,026.06 $ 950.28
Class 1-A5........$ 24,308,841.05 $ 965.36
Class 1-A6........$ 18,076,487.16 $ 964.06
Class 1-A7........$ 96,148,411.13 $ 1,001.36
<PAGE>
Class 1-A8........$ 6,076,589.86 $ 810.21
Class 1-A9........$ 1,215,317.97 $ 810.21
Class 1-A10.......$ 8,603,543.81 $ 901.61
Class 1-A11.......$ 24,096,571.86 $ 963.86
Class 1-A12.......$ 5,886,977.00 $ 1,000.00
Class 1-A13.......$ 1,752,000.00 $ 1,000.00
Class 1-A14.......$ 292,000.00 $ 1,000.00
Class 1-A15.......$ 6,338,749.98 $ 712.22
Class 1-A16.......$ 41,855,411.11 $ 996.56
Class 1-A17.......$ 2,989,672.23 $ 996.56
Class 1-PO........$ 1,031,841.73 $ 985.00
Class 1-S.........$ 390,379,518.74 $ 2,343.22
Class 1-M.........$ 8,975,992.49 $ 996.56
Class 1-B1........$ 4,487,497.97 $ 996.56
Class 1-B2........$ 4,487,497.97 $ 996.56
Class 1-B3........$ 2,244,247.26 $ 996.56
Class 1-B4........$ 673,672.79 $ 996.56
Class 1-B5........$ 1,571,248.07 $ 996.56
Class 1-R.........$ 0.00 $ 0.00
Class 1-RL........$ 0.00 $ 0.00
Class 2-A1........$ 13,664,976.20 $ 896.42
Class 2-A2........$ 13,163,000.00 $ 1,000.00
Class 2-A3........$ 12,831,000.00 $ 1,000.00
Class 2-A4........$ 1,856,714.00 $ 1,000.00
Class 2-A5........$ 24,253,331.05 $ 978.00
Class 2-A6........$ 11,031,267.69 $ 881.53
Class 2-A7........$ 8,860,886.14 $ 984.54
Class 2-S.........$ 80,575,973.67 $ 956.22
Class 2-PO........$ 125,538.34 $ 982.45
Class 2-M.........$ 886,349.57 $ 984.54
Class 2-B1........$ 443,174.30 $ 984.54
Class 2-B2........$ 443,174.30 $ 984.54
Class 2-B3........$ 265,904.39 $ 984.54
Class 2-B4........$ 177,269.91 $ 984.54
Class 2-B5........$ 221,589.41 $ 984.54
vi) The following pertains to any real estate acquired on behalf of
Certificateholders:
Pool 1 Pool 2
------ ------
Book Value.................$ 0.00 $ 0.00
Unpaid Principal Balance...$ 0.00 $ 0.00
The aggregate number of Mortgage Loans included in the Principal
Balance set forth above:... 0 0
<PAGE>
vii) Aggregate number and aggregate Principal Balances of delinquent
Mortgage Loans, as of the opening of business on the related
Determination Date:
Loans Principal Balance
Pool 1.......................
*(1) *30-59 days 10 $ 2,936,088.88
(2) 60-89 days 4 $ 1,431,908.30
(3) 90 days or more 1 $ 223,250.00
(4) in foreclosure 2 $ 546,650.00
Pool 2.......................
*(1) 30-59 days 2 $ 507,923.76
(2) 60-89 days 0 $ 0.00
(3) 90 days or more 0 $ 0.00
(4) in foreclosure 0 $ 0.00
viii)The aggregate number of replaced Mortgage Loans and Scheduled
Principal Balance:
Pool 1.................. 0 $ 0.00
Pool 2.................. 0 $ 0.00
ix) The aggregate number of modified Mortgage loans and Principal Balance:
Pool 1.................. 0 $ 0.00
Pool 2.................. 0 $ 0.00
x) Certificate Interest Rate of:
Class 1-A8 Certificates: 7.000000%
Class 1-A9 Certificates: 10.000000%
Class 1-S Certificates: 0.328644%
Class 2-S Certificates: 0.499346%
Pool 1 Pool 2
------ ------
xi) Senior Percentage ........................ 94.90450000% 97.18190000%
xii) Group I Senior Percentage ................ 84.72164779% 86.93716100%
xiii) Group II Senior Percentage ............... 10.18285221% 10.24473900%
xiv) Senior Prepayment Percentage .............100.00000000% 100.00000000%
xv) Group I Senior Prepayment Percentage.......100.00000000% 100.00000000%
xvi) Group II Senior Prepayment Percentage...... 0.00000000% 0.00000000%
xvii) Group I Scheduled Distribution Percentage.. 0.00000000% N/A
xviii) Group II Scheduled Distribution Percentage. 0.00000000% N/A
xviv) Junior Percentage ........................ 5.09550000% 2.81810000%
xvx) Junior Prepayment Percentage ............. 0.00000000% 0.00000000%
xvxi) Amount of distribution of Class 1-A7 Certificates allocable to
interest accrued on Components of Class 1-A7 Certificates:
Class 1-A7A Certificates: $ 263,556.60 7.50000000%
Class 1-A7B Certificates: $ 339,609.21 7.50000000%
Class 1-A7C Certificates: $ 83,807.31 7.50000000%
Class 1-A7D Certificates: $ 23,812.02 7.50000000%
<PAGE>
xvxii) Amount of distribution of Class 1-A5 Certificates allocable to
interest accrued on Components of Class 1-A5 Certificates:
Class 1-A5A Certificates: $ 5,712.50 7.50000000%
Class 1-A5B Certificates: $ 148,677.77 7.50000000%
* It has been the Company's experience that, with respect to the first
Distribution Date after the closing of a securitization containing a large
number of recently originated or acquired Mortgage Loans, the number of Mortgage
Loans 30-59 days delinquent may be inflated due to the borrowers sending monthly
payments to the wrong location or delays by the Company in inputting the
Mortgage Loans on its servicing system. It has also been the Company's
experience that for the majority of such Mortgage Loans the routing of
borrowers' monthly payments has corrected itself by the second Distribution
Date. However, the Company makes no assurances as to the level of delinquent
Mortgage Loans for future Distribution Dates.
Exhibit 99.5
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
JULY 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-3
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
(a) Principal ..................$ 311,707.52
(b) Interest ...................$ 2,942,380.59
(c) Total ......................$ 3,254,088.11
2. Aggregate Monthly Payments Received and Monthly Advances made
this month:
(a) Principal ..................$ 311,707.52
(b) Interest ...................$ 2,851,835.40
(c) Total ......................$ 3,163,542.92
3. Aggregate Principal Prepayments in part received and applied in
prior month: .....................$ 81,869.35
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ..................$ 1,162,618.06
(b) Interest ...................$ 7,929.62
(c) Total ......................$ 1,170,547.68
5. Aggregate Insurance Proceeds for prior month:
(a) Principal ..................$ 0.00
(b) Interest ...................$ 0.00
(c) Total ......................$ 0.00
<PAGE>
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal ..................$ 0.00
(b) Interest ...................$ 0.00
(c) Total ......................$ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage
Loans:
(a) Principal ..................$ 0.00
(b) Interest ...................$ 0.00
(c) Total ......................$ 0.00
8. Aggregate Purchase Prices ( and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal ..................$ 253,605.30
(b) Interest ...................$ 1,794.57
(c) Total ......................$ 255,399.87
9. Pool Scheduled Principal Balance: $ 437,841,109.77
10. Available Funds: .................$ 4,671,359.82
11. Realized Losses for prior month: ..$ 0.00
12. Aggregate Realized Losses:
(a) Deficient Valuations: .........$ 0.00
(b) Special Hazard Losses: ........$ 0.00
(c) Fraud Losses: .................$ 0.00
(d) Excess Bankruptcy Losses: .....$ 0.00
(e) Excess Special Hazard Losses: .$ 0.00
(f) Excess Fraud Losses: ..........$ 0.00
(g) Debt Service Reductions: ......$ 0.00
13. Compensating Interest Payment: ....$ 468.07
14. Accrued Certificate Interest, Unpaid Class Interest Shortfalls
and Pay-out Rate:
Class 3-A1........$ 200,918.79 $ 0.00 7.50000015%
Class 3-A2........$ 245,312.50 $ 0.00 7.50000000%
Class 3-A3........$ 34,009.95 $ 0.00 7.50000000%
Class 3-A4........$ 293,750.00 $ 0.00 7.50000000%
Class 3-A5........$ 265,832.71 $ 0.00 7.49999987%
Class 3-A6........$ 265,832.71 $ 0.00 7.50000004%
Class 3-A7 .......$ 372,856.86 $ 0.00 7.50000004%
Class 3-A8........$ 43,750.00 $ 0.00 7.50000000%
Class 3-A9........$ 213,750.00 $ 0.00 7.50000000%
<PAGE>
Class 3-A10.......$ 269,375.00 $ 0.00 7.50000000%
Class 3-A11.......$ 184,375.00 $ 0.00 7.50000000%
Class 3-A12.......$ 135,625.00 $ 0.00 7.50000000%
Class 3-A13.......$ 0.00 $ 0.00 0.00000000%
Class 3-A14.......$ 29,377.50 $ 0.00 7.50000069%
Class 3-A15.......$ 19,897.33 $ 0.00 7.49999953%
Class 3-M.........$ 34,764.87 $ 0.00 7.50000071%
Class 3-B1........$ 27,810.65 $ 0.00 7.50000110%
Class 3-B2........$ 27,810.65 $ 0.00 7.50000110%
Class 3-B3........$ 13,908.39 $ 0.00 7.49997223%
Class 3-B4........$ 4,172.49 $ 0.00 7.49992372%
Class 3-B5........$ 9,738.26 $ 0.00 7.49998392%
Class 3-S.........$ 118,509.05 $ 0.00 0.35240080%
Class 3-R.........$ 0.00 $ 0.00 0.00000000%
15. Accrual Amount:
Class 3-A13.......... $ 50,181.88
16. Principal distributable:
Class 3-A1........... $ 1,272,204.93
Class 3-A2........... $ 0.00
Class 3-A3........... $ 0.00
Class 3-A4........... $ 0.00
Class 3-A5........... $ 30,149.99
Class 3-A6........... $ 30,149.99
Class 3-A7........... $ 463,082.53
Class 3-A8........... $ 0.00
Class 3-A9........... $ 0.00
Class 3-A10.......... $ 0.00
Class 3-A11.......... $ 0.00
Class 3-A12.......... $ 0.00
Class 3-A13.......... $ 0.00
Class 3-A14.......... $ 50,181.88
Class 3-A15.......... $ 0.00
Class 3-PO........... $ 806.27
Class 3-M............ $ 3,942.93
Class 3-B1........... $ 3,154.20
Class 3-B2........... $ 3,154.20
Class 3-B3........... $ 1,577.46
Class 3-B4........... $ 473.24
Class 3-B5........... $ 1,104.49
Class 3-R............ $ 0.00
17. Additional distributions to the Class 3-R Certificate pursuant to
Section 4.01(b):..... $ 0.00
<PAGE>
18. Certificate Interest Rates of:
Class 3-S Certificates: 0.323500%
19. Other Amounts:
A. Senior Percentage for such Distribution Date: 95.690732%
B. Group I Senior Percentage for such Distribution
Date: ...................................... 76.308464%
C. Group II Senior Percentage for such Distribution
Date: ...................................... 19.382268%
D. Senior Prepayment Percentage for such
Distribution Date:.......................... 100.000000%
E. Group I Senior Prepayment Percentage for such
Distribution Date: ......................... 100.000000%
F. Group II Senior Prepayment Percentage for such
Distribution Date: ......................... 0.000000%
G. Junior Percentage for such Distribution Date: 4.309268%
H. Junior Prepayment Percentage for such
Distribution Date:.......................... 0.000000%
I. Subordinate Certificate Writedown Amount for such
Distribution Date: .........................$ 0.00
J. Prepayment Distribution Triggers satisfied:
YES NO
--- --
Class 3-B1....... X
Class 3-B2....... X
Class 3-B3....... X
Class 3-B4....... X
Class 3-B5....... X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
-----------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.6
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
JULY 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-3
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
The amounts below (other than for Class R) are for a Single Certificate of
$1,000:
1. The amount of such distribution allocable to principal:
Class 3-A1......$ 34.76385686 Class 3-A13.....$ 0.00000000
Class 3-A2......$ 0.00000000 Class 3-A14.....$ 10.34875952
Class 3-A3......$ 0.00000000 Class 3-A15.....$ 0.00000000
Class 3-A4......$ 0.00000000 Class 3-PO......$ 1.05396889
Class 3-A5......$ 0.70737930 Class 3-M.......$ 0.70737890
Class 3-A6......$ 0.70737932 Class 3-B1......$ 0.70737834
Class 3-A7......$ 7.55727463 Class 3-B2......$ 0.70737834
Class 3-A8......$ 0.00000000 Class 3-B3......$ 0.70738117
Class 3-A9......$ 0.00000000 Class 3-B4......$ 0.70738416
Class 3-A10.....$ 0.00000000 Class 3-B5......$ 0.70738051
Class 3-A11.....$ 0.00000000 Class 3-R.......$ 0.00000000
Class 3-A12.....$ 0.00000000
2. Principal Prepayments included in the above principal distribution
(including the Scheduled Principal Balances of all Defaulted Mortgage
Loans and Defective Mortgage Loans purchased pursuant to Section 2.02,
2.03 (b) or 3.16, respectively, and any amounts deposited pursuant to
Section 2.03(b) in connection with the substitution of any Mortgage
Loans pursuant to Section 2.02 or 2.03(a), the proceeds of which are
being distributed on such Distribution Date):
Class 3-A1......$ 28.99112831 Class 3-A13.....$ 0.00000000
Class 3-A2......$ 0.00000000 Class 3-A14.....$ 8.63029140
Class 3-A3......$ 0.00000000 Class 3-A15.....$ 0.00000000
Class 3-A4......$ 0.00000000 Class 3-PO......$ 0.87895159
Class 3-A5......$ 0.58991510 Class 3-M.......$ 0.00000000
Class 3-A6......$ 0.58991512 Class 3-B1......$ 0.00000000
Class 3-A7......$ 6.30234785 Class 3-B2......$ 0.00000000
Class 3-A8......$ 0.00000000 Class 3-B3......$ 0.00000000
<PAGE>
Class 3-A9......$ 0.00000000 Class 3-B4......$ 0.00000000
Class 3-A10.....$ 0.00000000 Class 3-B5......$ 0.00000000
Class 3-A11.....$ 0.00000000 Class 3-R.......$ 0.00000000
Class 3-A12.....$ 0.00000000
3. The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 3-A1......$ 5.49024131 Class 3-A13.....$ 0.00000000
Class 3-A2......$ 6.25000000 Class 3-A14.....$ 6.05837571
Class 3-A3......$ 6.25000000 Class 3-A15.....$ 6.24999961
Class 3-A4......$ 6.25000000 Class 3-M.......$ 6.23696986
Class 3-A5......$ 6.23696914 Class 3-B1......$ 6.23697017
Class 3-A6......$ 6.23696929 Class 3-B2......$ 6.23697017
Class 3-A7......$ 6.08483695 Class 3-B3......$ 6.23694619
Class 3-A8......$ 6.25000000 Class 3-B4......$ 6.23690583
Class 3-A9......$ 6.25000000 Class 3-B5......$ 6.23695581
Class 3-A10.....$ 6.25000000 Class 3-R.......$ 0.00000000
Class 3-A11.....$ 6.25000000 Class 3-S.......$ 0.26575210
Class 3-A12.....$ 6.25000000
4. Accrual Amount:
Class A13 $ 50,181.88
5. The amount of servicing compensation received by the Company during
the month preceding the month of distribution: $ 88,376.68
The amounts below are for the aggregate of all Certificates.
6. The Pool Scheduled Principal Balances of each Mortgage Pool on the
preceding Due Date after giving effect to all distributions allocable
to principal made on such Distribution Date: $ 437,841,109.77
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:......... 1,540
<PAGE>
7. The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to (i) all distributions allocable to principal
made on such Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date:
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 3-A1................$ 30,874,800.83 $ 843.67
Class 3-A2................$ 39,250,000.00 $ 1,000.00
Class 3-A3................$ 5,441,592.00 $ 1,000.00
Class 3-A4................$ 47,000,000.00 $ 1,000.00
Class 3-A5................$ 42,503,084.36 $ 997.21
Class 3-A6................$ 42,503,083.39 $ 997.21
Class 3-A7................$ 59,194,014.78 $ 966.02
Class 3-A8................$ 7,000,000.00 $ 1,000.00
Class 3-A9................$ 34,200,000.00 $ 1,000.00
Class 3-A10...............$ 43,100,000.00 $ 1,000.00
Class 3-A11...............$ 29,500,000.00 $ 1,000.00
Class 3-A12...............$ 21,700,000.00 $ 1,000.00
Class 3-A13...............$ 8,079,283.31 $ 1,025.23
Class 3-A14...............$ 4,650,217.69 $ 958.99
Class 3-A15...............$ 3,183,573.00 $ 1,000.00
Class 3-PO................$ 762,000.79 $ 996.10
Class 3-M.................$ 5,558,435.74 $ 997.21
Class 3-B1................$ 4,446,549.15 $ 997.21
Class 3-B2................$ 4,446,549.15 $ 997.21
Class 3-B3................$ 2,223,773.18 $ 997.21
Class 3-B4................$ 667,131.95 $ 997.21
Class 3-B5................$ 1,557,020.45 $ 997.21
Class 3-R.................$ 0.00 $ 0.00
Class 3-S.................$ 401,778,424.75 $ 980.58
8. The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in lieu of
foreclosure or otherwise, of any REO Mortgage Loan:
book value.......................................$ 0.00
unpaid principal balance.........................$ 0.00
number of related mortgage loans................. 0
<PAGE>
9. The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the month
preceding the related Determination Date, were:
(a) delinquent
(1) 30-59 days
Number 20 Principal Balance $ 6,203,797.42
(2) 60-89 days
Number 0 Principal Balance $ 0.00
(3) 90 days or more
Number 0 Principal Balance $ 0.00
(b) in foreclosure
Number 0 Principal Balance $ 0.00
10. The Scheduled Principal Balance of any Mortgage Loan replaced pursuant
to Section 2.03(b), and of any Modified Mortgage Loan purchased
pursuant to Section 3.01(c): .............. $ 0.00
11. The Certificate Interest Rates, applicable to the Interest Accrual
Period relating to such Distribution Date:
Class 3-S: ............................... 0.323500%
12. Senior Percentage for such Distribution Date: .......... 95.69073200%
13. Group I Senior Percentage for such Distribution Date: .. 76.30846400%
14. Group II Senior Percentage for such Distribution Date: . 19.38226800%
15. Senior Prepayment Percentage for such Distribution Date:100.00000000%
16. Group I Senior Prepayment Percentage for such
Distribution Date: .....................................100.00000000%
17. Group II Senior Prepayment Percentage for such
Distribution Date: ..................................... 0.00000000%
18. Junior Percentage for such Distribution Date: .......... 4.30926800%
19. Junior Prepayment Percentage for such Distribution Date: 0.00000000%
Exhibit 99.7
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
JULY 1997
Home Equity Loan Pass-Through Certificates
Series 1997-HE1
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company"),
and The First National Bank of Chicago (the "Trustee"), governing the
Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
(1) Aggregate Monthly Payments Due: $ 1,850,908.51
(2) Aggregate Monthly Payments received and Monthly Advances made
this Month:
(a) Principal $ 266,851.88
(b) Interest $ 1,555,482.97
(c) Total $ 1,822,334.85
(3) Aggregate Principal Prepayments in part received on Self-
Amortizing Mortgage Loans and applied in the applicable
Prepayment Period:
(a) Principal $ 73,919.91
(c) Total $ 73,919.91
(4) Aggregate Principal Prepayments in full received in the
applicable Prepayment period:
(a) Principal $ 1,871,916.18
(b) Interest $ 7,682.49
(c) Total $ 1,879,598.67
<PAGE>
(5) Aggregate Insurance Proceeds (inculding purchases of Mortgage
Loans by primary mortgage insurers)for prior month:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(6) Aggregate Liquidation Proceeds for prior month:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(7) Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(8) Aggregate Purchase Prices for (and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(9) Aggregate Purchase Prices for for Document Deficiencies per Sec.
2.02:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(10) Pool Principal Balance: $ 193,702,711.16
(11) Available Funds: $ 3,694,087.24
(12) Realized Losses for prior month: $ 0.00
<PAGE>
(13) Aggregate Realized Losses:
(a) Deficient Valuations $ 0.00
(b) Special Hazard Losses $ 0.00
(c) Fraud Losses $ 0.00
(d) Excess Bankruptcy Losses $ 0.00
(e) Excess Special Hazard Losses $ 0.00
(f) Excess Fraud Losses $ 0.00
(14) Compensating Interest Payment: $ 1,872.58
(15) Net Simple Interest Shortfall: 0.00
(16) Net Simple Interest Excess: $ 0.00
(17) Simple Interest Shortfall Payment: $ 0.00
(18) Unpaid Net Simple Interest Shortfall:
Class A1 36157T4B4 $ 0.00
Class A2 36157T4C2 $ 0.00
Class A3 36157T4D0 $ 0.00
Class A4 36157T4E8 $ 0.00
Class A5 36157T4F5 $ 0.00
Class S 36197HE1S $ 0.00
Class M 36157T4J7 $ 0.00
Class B1 36157T4K4 $ 0.00
Class B2 36157T4L2 $ 0.00
Class B3 36157T5M9 $ 0.00
Class B4 36157T5N7 $ 0.00
Class B5 36157T5P2 $ 0.00
(19) Class Certificate Interest Rate:
Class A4 6157T4E8 7.780%
Class M 6157T4J7 7.50%
Class B1 6157T4K4 7.50%
Class B2 6157T4L2 7.50%
Class B3 6157T5M9 9.177%
Class B4 6157T5N7 9.177%
Class B5 6157T5P2 9.177%
Class S 6196HE4S 2.11%
<PAGE>
(20) Accrued Certificate Interest and Pay-out Rate:
Class A1 36157T4B4 $ 392,543.16 6.670%
Class A2 36157T4C2 $ 276,489.60 6.940%
Class A3 36157T4D0 $ 86,895.38 7.350%
Class A4 36157T4E8 $ 102,864.57 7.780%
Class A5 36157T4F5 $ 182,250.00 7.290%
Class S 36197HE1S $ 340,431.95 2.11%
Class M 36157T4J7 $ 33,748.04 7.500%
Class B1 36157T4K4 $ 24,546.29 7.500%
Class B2 36157T4L2 $ 15,344.53 7.500%
Class B3 36157T5M9 $ 9,763.98 9.177%
Class B4 36157T5N7 $ 2,999.05 9.177%
Class B5 36157T5P2 $ 13,522.73 9.177%
TOTAL $ 1,481,399.27
(21) Principal distributable:
Class A1 36157T4B4 $ 2,191,721.36
Class A2 36157T4C2 $ 0.00
Class A3 36157T4D0 $ 0.00
Class A4 36157T4E8 $ 0.00
Class A5 36157T4F5 $ 0.00
Class M 36157T4J7 $ 7,438.80
Class B1 36157T4K4 $ 5,410.54
Class B2 36157T4L2 $ 3,382.27
Class B3 36157T5M9 $ 1,758.83
Class B4 36157T5N7 $ 540.23
Class B5 36157T5P2 $ 2,435.92
Class R1 36157T4G3 $ 0.00
Class R2 36157T4H1 $ 0.00
TOTAL $ 2,212,687.96
(22) Additional distributions to the Class R1 Certificate pursuant to
Section 2.05 (d) : $ 0.00
(23) Additional distributions to the Class R2 Certificate pursuant to
Section 4.01 (b) : $ 0.00
B. Other Amounts:
(1) Senior Percentage for such Distribution Date: 92.142984%
<PAGE>
(2) Senior Prepayment Percentage for such Distribution
Date: 100.00%
(3) Junior Percentage for such Distribution Date: 7.857016%
(4) Junior Prepayment Percentage for such Distribution
Date: 0.00%
(5) Subordinate Certfificate Writedown Amount for such
Distribution Date: 0.00%
(6) Prepayment Distribution Triggers satisfied:
Yes No
--- --
Class B1 X
Class B2 X
Class B3 X
Class B4 X
Class B5 X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
-----------------------------------
Name: Karen Pickett
Title: Vice President,
Investor Operations
Exhibit 99.8
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
JULY 1997
Home Equity Loan Pass-Through Certificates
Series 1997-HE1
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company"),
and The First National Bank of Chicago (the "Trustee"), governing the
Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
The amounts below are for a Single Certificate of $1,000:
(1) Amount of distribution allocable to principal:
Class A1 36157T4B4 $ 29.37373670
Class A2 36157T4C2 $ 0.00
Class A3 36157T4D0 $ 0.00
Class A4 36157T4E8 $ 0.00
Class A5 36157T4F5 $ 0.00
Class M 36157T4J7 $ 1.36767868
Class B1 36157T4K4 $ 1.36767868
Class B2 36157T4L2 $ 1.36767868
Class B3 36157T5M9 $ 1.36767868
Class B4 36157T5N7 $ 1.36767868
Class B5 36157T5P2 $ 1.36767868
Class R1 36157T4G3 $ 0.00
Class R2 36157T4H1 $ 0.00
(2) Aggregate Principal prepayments included in distribution:
<PAGE>
Class A1 36157T4B4 $ 1,945,836.09
Class A2 36157T4C2 $ 0.00
Class A3 36157T4D0 $ 0.00
Class A4 36157T4E8 $ 0.00
Class A5 36157T4F5 $ 0.00
Class M 36157T4J7 $ 0.00
Class B1 36157T4K4 $ 0.00
Class B2 36157T4L2 $ 0.00
Class B3 36157T5M9 $ 0.00
Class B4 36157T5N7 $ 0.00
Class B5 36157T5P2 $ 0.00
Class R1 36157T4G3 $ 0.00
Class R2 36157T4H1 $ 0.00
(3) Amount of distribution allocable to interest Pay-out Rate:
Class A1 36157T4B4 $ 5.26091483 6.670%
Class A2 36157T4C2 $ 5.78333333 6.940%
Class A3 36157T4D0 $ 6.12500000 7.350%
Class A4 36157T4E8 $ 6.48333333 7.780%
Class A5 36157T4F5 $ 6.07500000 7.290%
Class S 36197HE1S $ 1.75749709 2.11%
Class M 36157T4J7 $ 6.20482486 7.500%
Class B1 36157T4K4 $ 6.20482486 7.500%
Class B2 36157T4L2 $ 6.20482486 7.500%
Class B3 36157T5M9 $ 7.59251988 9.177%
Class B4 36157T5N7 $ 7.59251988 9.177%
Class B5 36157T5P2 $ 7.59251988 9.177%
(4) Servicing Compensation: $ 81,766.19
The amounts below are for the aggregate of all Certificates:
(5) Pool Principal Balance: $ 193,702,711.16
number of Mortgage Loans: 3,105
(6) Class Certificate Principal Balance of each Class; Certificate
Principal Balance of Single Certificate of each class:
<PAGE>
Single
Certificate
Class Cusip# Class Balance Balance
----- ------ ------------- -------
Class A1 36157T4B4 $ 68,430,736.24 $ 917.11768731
Class A2 36157T4C2 $ 47,808,000.00 $ 1,000.00000000
Class A3 36157T4D0 $ 14,187,000.00 $ 1,000.00000000
Class A4 36157T4E8 $ 15,866,000.00 $ 1,000.00000000
Class A5 36157T4F5 $ 30,000,000.00 $ 1,000.00000000
Class M 36157T4J7 $ 5,392,247.98 $ 991.40429925
Class B1 36157T4K4 $ 3,921,995.41 $ 991.40429925
Class B2 36157T4L2 $ 2,451,742.83 $ 991.40429925
Class B3 36157T5M9 $ 1,274,945.93 $ 991.40429925
Class B4 36157T5N7 $ 391,604.70 $ 991.40429925
Class B5 36157T5P2 $ 1,765,750.54 $ 991.40429925
Class R1 36157T4G3 $ 0.00 $ 0.00000000
Class R2 36157T4H1 $ 0.00 $ 0.00000000
(7) Book value of real estate acquired on behalf of
Certificateholders; $ 0.00000000
number of related Mortgage Loans: 0
(8) Aggregate Scheduled Principal Balance and number of delinquent
Mortgage Loans:
One Payment Delinquent $ 2,940,931.37
50
Two Payments Delinquent $ 375,000.70
9
Three or more Payments Delinquent $ 0.00
0
TOTAL $ 3,315,932.07
59
In foreclosure $ 140,533.00
2
<PAGE>
(9) Aggregate Scheduled Principal Balance; $ 0.00
and number of replaced Mortgage Loans: 0
(10) Unpaid Net Simple Interest Shortfall:
Class A1 36157T4B4 $ 0.00
Class A2 36157T4C2 $ 0.00
Class A3 36157T4D0 $ 0.00
Class A4 36157T4E8 $ 0.00
Class A5 36157T4F5 $ 0.00
Class S 36197HE1S $ 0.00
Class M 36157T4J7 $ 0.00
Class B1 36157T4K4 $ 0.00
Class B2 36157T4L2 $ 0.00
Class B3 36157T5M9 $ 0.00
Class B4 36157T5N7 $ 0.00
Class B5 36157T5P2 $ 0.00
(11) Class Certificate Interest Rate of:
Class A4 36157T4E8 7.290%
Class M 36157T4J7 7.500%
Class B1 36157T4K4 7.500%
Class B2 36157T4L2 7.500%
Class B3 36157T5M9 9.177%
Class B4 36157T5N7 9.177%
Class B5 36157T5P2 9.177%
Class S 36197HE1S 2.110%
(12) Senior Percentage for such Distribution Date: 92.142984%
(13) Senior Prepayment Percentage for such Distribution Date: 100.00%
(14) Junior Percentage for such Distribution Date: 7.857016%
(15) Junior Prepayment Percentage for such Distribution Date: 0.00%
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
--------------------------------------
Name: Karen Pickett
Title: Vice President,
Investor Operations
Exhibit 99.9
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
JULY 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-4
Pursuant to the Pooling and Servicing Agreement dated as of April 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
(a) Principal .....................$ 241,494.76
(b) Interest ......................$ 2,323,682.84
(c) Total .........................$ 2,565,177.60
2. Aggregate Monthly Payments Received and Monthly Advances made
this month:
(a) Principal .....................$ 241,494.76
(b) Interest ......................$ 2,252,349.34
(c) Total .........................$ 2,493,844.10
3. Aggregate Principal Prepayments in part received and applied in
prior month: ........................$ 121,115.41
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal .....................$ 768,775.28
(b) Interest ......................$ 4,538.99
(c) Total .........................$ 773,314.27
5. Aggregate Insurance Proceeds for prior month:
(a) Principal .....................$ 0.00
(b) Interest ......................$ 0.00
(c) Total .........................$ 0.00
<PAGE>
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal .....................$ 0.00
(b) Interest ......................$ 0.00
(c) Total .........................$ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage
Loans:
(a) Principal .....................$ 0.00
(b) Interest ......................$ 0.00
(c) Total .........................$ 0.00
8. Aggregate Purchase Prices ( and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal .....................$ 0.00
(b) Interest ......................$ 0.00
(c) Total .........................$ 0.00
9. Pool Scheduled Principal Balance: ...$ 347,082,570.29
10. Available Funds: ....................$ 3,388,273.78
11. Realized Losses for prior month: .....$ 0.00
12. Aggregate Realized Losses:
(a) Deficient Valuations: ............$ 0.00
(b) Special Hazard Losses: ...........$ 0.00
(c) Fraud Losses: ....................$ 0.00
(d) Excess Bankruptcy Losses: ........$ 0.00
(e) Excess Special Hazard Losses: ....$ 0.00
(f) Excess Fraud Losses: .............$ 0.00
(g) Debt Service Reductions: .........$ 0.00
13. Non-Credit Losses: ...................$ 0.00
14. Compensating Interest Payment: .......$ 1,347.40
15. Accrued Certificate Interest, Unpaid Class Interest Shortfalls
and Pay-out Rate:
Class 4-A1....$ 134,625.00 $ 0.00 7.50000000%
Class 4-A2....$ 216,963.07 $ 0.00 7.49999999%
Class 4-A3....$ 140,912.50 $ 0.00 7.50000000%
Class 4-A4....$ 182,684.60 $ 0.00 7.49999995%
Class 4-A5....$ 284,725.00 $ 0.00 7.50000000%
Class 4-A6....$ 43,303.81 $ 0.00 7.50000025%
<PAGE>
Class 4-A7 ...$ 0.00 $ 0.00 0.00000000%
Class 4-A8 ...$ 342,549.31 $ 0.00 7.50000010%
Class 4-A9 ...$ 122,587.50 $ 0.00 7.50000000%
Class 4-A10 ..$ 215,693.75 $ 0.00 7.50000000%
Class 4-A11 ..$ 128,825.00 $ 0.00 7.50000000%
Class 4-A12 ..$ 203,450.00 $ 0.00 7.50000000%
Class 4-M.....$ 27,362.54 $ 0.00 7.49999962%
Class 4-B1....$ 21,888.78 $ 0.00 7.49999835%
Class 4-B2....$ 21,888.75 $ 0.00 7.49998807%
Class 4-B3....$ 10,947.48 $ 0.00 7.49997731%
Class 4-B4....$ 3,283.00 $ 0.00 7.49998715%
Class 4-B5....$ 7,659.03 $ 0.00 7.49996873%
Class 4-S.....$ 84,255.52 $ 0.00 0.31721842%
Class 4-R.....$ 0.00 $ 0.00 0.00000000%
16. Principal distributable:
Class 4-A1..... $ 0.00
Class 4-A2..... $ 843,690.92
Class 4-A3..... $ 0.00
Class 4-A4..... $ 276,843.54
Class 4-A5..... $ 0.00
Class 4-A6..... $ 63,283.69
Class 4-A7..... $ 0.00
Class 4-A8..... $ 0.00
Class 4-A9..... $ 0.00
Class 4-A10.... $ 0.00
Class 4-A11.... $ 0.00
Class 4-A12.... $ 0.00
Class 4-PO..... $ 529.90
Class 4-M...... $ 3,035.71
Class 4-B1..... $ 2,428.43
Class 4-B2..... $ 2,428.43
Class 4-B3..... $ 1,214.56
Class 4-B4..... $ 364.23
Class 4-B5..... $ 849.73
Class 4-R...... $ 0.00
17. Additional distributions to the Class 4-R Certificate pursuant to
Section 4.01(b):...... $ 0.00
18. Certificate Interest Rates of:
Class 4-S Certificates:..... 0.290400%
19. Accrual Amount A7 Certificates: $ 63,283.69
<PAGE>
B. Other Amounts:
1. Senior Percentage for such Distribution Date: ...... 95.718113%
2. Group I Senior Percentage for such Distribution Date: 79.299702%
3. Group II Senior Percentage for such Distribution Date: 16.418411%
4. Senior Prepayment Percentage for such Distribution
Date: .............................................. 100.000000%
5. Group I Senior Prepayment Percentage for such
Distribution Date: ................................. 100.000000%
6. Group II Senior Prepayment Percentage for such
Distribution Date: ................................. 0.000000%
7. Junior Percentage for such Distribution Date: ...... 4.281887%
8. Junior Prepayment Percentage for such Distribution Date:0.000000%
9. Subordinate Certificate Writedown Amount for such
Distribution Date: .................................$ 0.00
10. Prepayment Distribution Triggers satisfied:
Yes No
--- --
Class 4-B1....... X
Class 4-B2....... X
Class 4-B3....... X
Class 4-B4....... X
Class 4-B5....... X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
-----------------------------------
Name: Karen Pickett
Title: Vice-President
Investor Operations
Exhibit 99.10
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
JULY 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-4
Pursuant to the Pooling and Servicing Agreement dated as of April 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
(a) The amounts below (other than for Class R) are for a Single
Certificate of $1,000:
i) The amount of such distribution allocable to principal:
Class 4-A1.....$ 0.00000000 Class 4-A12....$ 0.00000000
Class 4-A2.....$ 23.58457272 Class 4-PO.....$ 0.89246165
Class 4-A3.....$ 0.00000000 Class 4-M......$ 0.69245210
Class 4-A4.....$ 9.36009534 Class 4-B1.....$ 0.69245224
Class 4-A5.....$ 0.00000000 Class 4-B2.....$ 0.69245224
Class 4-A6.....$ 8.97131982 Class 4-B3.....$ 0.69245154
Class 4-A7.....$ 0.00000000 Class 4-B4.....$ 0.69245247
Class 4-A8.....$ 0.00000000 Class 4-B5.....$ 0.69245490
Class 4-A9.....$ 0.00000000 Class 4-R......$ 0.00000000
Class 4-A10....$ 0.00000000
Class 4-A11....$ 0.00000000
ii) Principal Prepayments included in the above principal
distribution (including the Scheduled Principal Balances of all
Defaulted Mortgage Loans and Defective Mortgage Loans purchased
pursuant to Section 2.02, 2.03 (b) or 3.16, respectively, and any
amounts deposited pursuant to Section 2.03(b) in connection with
the substitution of any Mortgage Loans pursuant to Section 2.02
or 2.03(a), the proceeds of which are being distributed on such
Distribution Date):
<PAGE>
Class 4-A1.....$ 0.00000000 Class 4-A12.....$ 0.00000000
Class 4-A2.....$ 18.72121918 Class 4-M.......$ 0.00000000
Class 4-A3.....$ 0.00000000 Class 4-PO......$ 0.70842794
Class 4-A4.....$ 7.42995850 Class 4-B1......$ 0.00000000
Class 4-A5.....$ 0.00000000 Class 4-B2......$ 0.00000000
Class 4-A6.....$ 7.12135203 Class 4-B3......$ 0.00000000
Class 4-A7.....$ 0.00000000 Class 4-B4......$ 0.00000000
Class 4-A8.....$ 0.00000000 Class 4-B5......$ 0.00000000
Class 4-A9.....$ 0.00000000 Class 4-R.......$ 0.00000000
Class 4-A10....$ 0.00000000
Class 4-A11....$ 0.00000000
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 4-A1..... 6.25000000 Class 4-A12..... 6.25000000
Class 4-A2..... 6.06499511 Class 4-M....... 6.24145529
Class 4-A3..... 6.25000000 Class 4-PO...... 0.00000000
Class 4-A4..... 6.17657639 Class 4-B1...... 6.24145423
Class 4-A5..... 6.25000000 Class 4-B2...... 6.24144568
Class 4-A6..... 6.13890133 Class 4-B3...... 6.24143672
Class 4-A7..... 0.00000000 Class 4-B4...... 6.24144487
Class 4-A8..... 6.13151431 Class 4-B5...... 6.24143299
Class 4-A9..... 6.25000000 Class 4-R....... 0.00000000
Class 4-A10.... 6.25000000 Class 4-S....... 0.24024888
Class 4-A11.... 6.25000000
iv) The amount of servicing compensation received by the Company
during the month preceding the month of distribution:
$ 73,546.57
(b) The amounts below are for the aggregate of all Certificates.
v) The Pool Scheduled Principal Balances of each Mortgage Pool on
the preceding Due Date after giving effect to all distributions
allocable to principal made on such Distribution Date:
$ 347,082,570.29
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:........... 1,237
vi) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each
Class after giving effect to (i) all distributions allocable to
principal made on such Distribution Date and (ii) the allocation
of any Realized Losses and any Subordinate Writedown Certificate
Amount for such Distribution Date:
<PAGE>
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 4-A1................$ 21,540,000.00 $ 1,000.00
Class 4-A2................$ 33,870,400.34 $ 946.81
Class 4-A3................$ 22,546,000.00 $ 1,000.00
Class 4-A4................$ 28,952,692.67 $ 978.89
Class 4-A5................$ 45,556,000.00 $ 1,000.00
Class 4-A6................$ 6,865,325.68 $ 973.25
Class 4-A7................$ 10,188,674.32 $ 1,018.87
Class 4-A8................$ 54,807,888.84 $ 981.04
Class 4-A9................$ 19,614,000.00 $ 1,000.00
Class 4-A10...............$ 34,511,000.00 $ 1,000.00
Class 4-A11...............$ 20,612,000.00 $ 1,000.00
Class 4-A12...............$ 32,552,000.00 $ 1,000.00
Class 4-PO................$ 592,158.86 $ 997.32
Class 4-M.................$ 4,374,970.91 $ 997.94
Class 4-B1................$ 3,499,777.14 $ 997.94
Class 4-B2................$ 3,499,777.14 $ 997.94
Class 4-B3................$ 1,750,387.54 $ 997.94
Class 4-B4................$ 524,916.67 $ 997.94
Class 4-B5................$ 1,224,600.18 $ 997.94
Class 4-R.................$ 0.00 $ 0.00
Class 4-S.................$ 317,623,671.28 $ 988.98
vii) The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in
lieu of foreclosure or otherwise, of any REO Mortgage Loan:
book value............................... $ 0.00
unpaid principal balance................. $ 0.00
number of related mortgage loans......... 0
viii)The aggregate number and aggregate Principal Balances of
Mortgage Loans which, as of the close of business on the last day
of the month preceding the related Determination Date, were:
(a) delinquent
(1) 30-59 days
*Number 18 *Principal Balance $ 4,707,704.44
(2) 60-89 days
Number 4 Principal Balance $ 1,144,090.46
(3) 90 days or more
Number 1 Principal Balance $ 263,000.00
(b) in foreclosure
Number 0 Principal Balance $ 0.00
<PAGE>
ix) The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to Section 2.03(b), and of any Modified Mortgage Loan
purchased pursuant to Section 3.01(c): ........$ 0.00
x) The Certificate Interest Rates, applicable to the Interest
Accrual Period relating to such Distribution Date:
Class 4-S: ....................... 0.290400%
1. Senior Percentage for such Distribution Date: .. 95.71811300%
2. Group I Senior Percentage for such Distribution
Date: .......................................... 79.29970200%
3. Group II Senior Percentage for such Distribution
Date: .......................................... 16.41841100%
4. Senior Prepayment Percentage for such Distribution
Date:...........................................100.00000000%
5. Group I Senior Prepayment Percentage for such
Distribution Date: .............................100.00000000%
6. Group II Senior Prepayment Percentage for such
Distribution Date: ............................. 0.00000000%
7. Junior Percentage for such Distribution Date: .. 4.28188700%
8. Junior Prepayment Percentage for such Distribution
Date: ......................................... 0.00000000%
Exhibit 99.11
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
JULY 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-5
Pursuant to the Pooling and Servicing Agreement dated as of May 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
(a) Principal ...........................$ 328,842.48
(b) Interest ............................$ 3,283,787.43
(c) Total ...............................$ 3,612,629.91
2. Aggregate Monthly Payments Received and Monthly Advances made
this month:
(a) Principal ......................... $ 328,842.48
(b) Interest .......................... $ 3,182,456.50
(c) Total ............................. $ 3,511,298.98
3. Aggregate Principal Prepayments in part received and applied in
prior month: ............................ $ 91,280.65
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ......................... $ 785,745.61
(b) Interest .......................... $ 5,312.13
(c) Total ............................. $ 791,057.74
<PAGE>
5. Aggregate Insurance Proceeds for prior month:
(a) Principal ......................... $ 0.00
(b) Interest .......................... $ 0.00
(c) Total ............................. $ 0.00
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal ......................... $ 0.00
(b) Interest .......................... $ 0.00
(c) Total ............................. $ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage
Loans:
(a) Principal ......................... $ 0.00
(b) Interest ...........................$ 0.00
(c) Total ............................. $ 0.00
8. Aggregate Purchase Prices ( and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal ......................... $ 0.00
(b) Interest .......................... $ 0.00
(c) Total ............................. $ 0.00
9. Pool Scheduled Principal Balance: ........$ 486,523,834.03
10. Available Funds: ........................$ 4,393,637.37
11. Realized Losses for prior month: .........$ 0.00
12. Aggregate Realized Losses:
(a) Deficient Valuations: ................$ 0.00
(b) Special Hazard Losses: ...............$ 0.00
(c) Fraud Losses: ........................$ 0.00
(d) Excess Bankruptcy Losses: ............$ 0.00
(e) Excess Special Hazard Losses: ........$ 0.00
(f) Excess Fraud Losses: .................$ 0.00
(g) Debt Service Reductions: .............$ 0.00
13. Non-Credit Losses: .......................$ 0.00
14. Compensating Interest Payment: ...........$ 793.84
<PAGE>
15. Accrued Certificate Interest, Unpaid Class Interest Shortfalls
and Pay-out Rate:
Class 5-A1...$ 193,654.15 $ 0.00 7.49999988%
Class 5-A2...$ 1,257,410.70 $ 0.00 7.50000000%
Class 5-A3...$ 38,125.00 $ 0.00 7.50000000%
Class 5-A4...$ 12,187.50 $ 0.00 7.50000000%
Class 5-A5...$ 62,038.86 $ 0.00 7.50000023%
Class 5-A6...$ 1,296,159.78 $ 0.00 7.50000003%
Class 5-A7 ..$ 54,762.25 $ 0.00 7.50000055%
Class 5-PO1 .$ 0.00 $ 0.00 0.00000000%
Class 5-PO2 .$ 0.00 $ 0.00 0.00000000%
Class 5-M....$ 45,884.33 $ 0.00 7.50000076%
Class 5-B1...$ 30,589.55 $ 0.00 7.49999994%
Class 5-B2...$ 22,942.17 $ 0.00 7.50000137%
Class 5-B3...$ 15,294.77 $ 0.00 7.49999749%
Class 5-B4...$ 4,588.40 $ 0.00 7.49994780%
Class 5-B5...$ 10,706.32 $ 0.00 7.49997706%
Class 5-S1...$ 51,156.93 $ 0.00 0.46306885%
Class 5-S2...$ 92,267.92 $ 0.00 0.34074867%
Class 5-R....$ 0.00 $ 0.00 0.00000000%
16. Principal distributable:
Class 5-A1..... $ 118,390.05
Class 5-A2..... $ 0.00
Class 5-A3..... $ 0.00
Class 5-A4..... $ 0.00
Class 5-A5..... $ 6,690.98
Class 5-A6..... $ 0.00
Class 5-A7..... $ 1,066,166.83
Class 5-PO1.... $ 105.27
Class 5-PO2.... $ 494.33
Class 5-M...... $ 4,948.69
Class 5-B1..... $ 3,299.13
Class 5-B2..... $ 2,474.34
Class 5-B3..... $ 1,649.56
Class 5-B4..... $ 494.87
Class 5-B5..... $ 1,154.69
Class 5-R...... $ 0.00
17. Additional distributions to the Class 5-R Certificate pursuant to
Section 4.01(b): ......................$ 0.00
18. Certificate Interest Rates of:
Class 5-S1 Certificates:..... 0.463069%
Class 5-S2 Certificates:..... 0.340749%
<PAGE>
19. Accrual Amount A7 Certificates:........$ 0.00
B. Other Amounts:
1. Senior Percentage for such Distribution Date: ...... 95.729602%
2. Category A-Senior Percentage for such Distribution Date:10.051608%
3. Category B-Senior Percentage for such Distribution Date:85.677994%
4. Category A-Percentage for such Distribution Date: ......10.500000%
5. Category B-Percentage for such Distribution Date: ......89.500000%
6. Group I Senior Percentage for such Distribution Date: ..52.388586%
7. Category A-Group I Senior Percentage for such
Distribution Date: ..................................... 8.013768%
8. Category B-Group I Senior Percentage for such
Distribution Date: .....................................44.374818%
9. Group II Senior Percentage for such Distribution Date: .43.341016%
10. Category A-Group II Senior Percentage for such
Distribution Date: .................................... 2.037840%
11. Category B-Group II Senior Percentage for such
Distribution Date: ....................................41.303176%
12. Category B-Group I Scheduled Distribution Percentage:..85.677994%
13. Category B-Group II Scheduled Distribution Percentage:. 0.000000%
14. Senior Prepayment Percentage for such Distribution
Date:.................................................100.000000%
15. Category A-Senior Prepayment Percentage
for such Distribution Date: .......................... 10.500000%
16. Category B-Senior Prepayment Percentage
for such Distribution Date: .......................... 89.500000%
17. Group I Senior Prepayment Percentage for such
Distribution Date: ...................................100.000000%
<PAGE>
18. Category A-Group I Senior Prepayment Percentage for such
Distribution Date: .................................. 10.500000%
19. Category B-Group I Senior Prepayment Percentage for such
Distribution Date: .................................. 89.500000%
20. Group II Senior Prepayment Percentage for such
Distribution Date: .................................. 0.000000%
21. Category A-Group II Senior Prepayment Percentage for such
Distribution Date: ................................... 0.000000%
22. Category B-Group II Senior Prepayment Percentage for such
Distribution Date: ................................... 0.000000%
23. Junior Percentage for such Distribution Date: ........ 4.270398%
24. Junior Prepayment Percentage for such Distribution Date:0.000000%
25. Subordinate Certificate Writedown Amount for such
Distribution Date: ...............................$ 0.00
26. Prepayment Distribution Triggers satisfied:
YES NO
--- --
Class 5-B1....... X
Class 5-B2....... X
Class 5-B3....... X
Class 5-B4....... X
Class 5-B5....... X
27. Category B Trigger satisfied:
YES NO
--- --
X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
-----------------------------------
Name: Karen Pickett
Title: Vice-President
Investor Operations
Exhibit 99.12
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
JULY 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-5
Pursuant to the Pooling and Servicing Agreement dated as of May 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
(a) The amounts below (other than for Class R) are for a Single Certificate
of $1,000:
i) The amount of such distribution allocable to principal:
Class 5-A1....$ 3.79582497 Class 5-M....$ 0.67362192
Class 5-A2....$ 0.00000000 Class 5-B1...$ 0.67362260
Class 5-A3....$ 0.00000000 Class 5-B2...$ 0.67362047
Class 5-A4....$ 0.00000000 Class 5-B3...$ 0.67362056
Class 5-A5....$ 0.67362198 Class 5-B4...$ 0.67362337
Class 5-A6....$ 0.00000000 Class 5-B5...$ 0.67361875
Class 5-A7....$ 101.53969810 Class 5-R....$ 0.00000000
Class 5-PO1...$ 0.77621392
Class 5-PO2...$ 0.98937635
ii) Principal Prepayments included in the above principal
distribution (including the Scheduled Principal Balances of all
Defaulted Mortgage Loans and Defective Mortgage Loans purchased
pursuant to Section 2.02, 2.03 (b) or 3.16, respectively, and any
amounts deposited pursuant to Section 2.03(b) in connection with
the substitution of any Mortgage Loans pursuant to Section 2.02
or 2.03(a), the proceeds of which are being distributed on such
Distribution Date):
Class 5-A1....$ 2.79317472 Class 5-M....$ 0.00000000
Class 5-A2....$ 0.00000000 Class 5-B1...$ 0.00000000
Class 5-A3....$ 0.00000000 Class 5-B2...$ 0.00000000
Class 5-A4....$ 0.00000000 Class 5-B3...$ 0.00000000
Class 5-A5....$ 0.49568774 Class 5-B4...$ 0.00000000
Class 5-A6....$ 0.00000000 Class 5-B5...$ 0.00000000
Class 5-A7....$ 74.71843942 Class 5-R....$ 0.00000000
Class 5-PO1...$ 0.57118047
Class 5-PO2...$ 0.72803700
<PAGE>
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 5-A1.... 6.20894457 Class 5-B1... 6.24583214
Class 5-A2.... 6.25000000 Class 5-B2... 6.24583333
Class 5-A3.... 6.25000000 Class 5-B3... 6.24583010
Class 5-A4.... 6.25000000 Class 5-B4... 6.24578875
Class 5-A5.... 6.24583239 Class 5-B5... 6.24581307
Class 5-A6.... 6.24802290 Class 5-R.... 0.00000000
Class 5-A7.... 5.21545238 Class 5-S1... 0.51367916
Class 5-M..... 6.24583282 Class 5-S2... 0.92648469
iv) The amount of servicing compensation received by the Company
during the month preceding the month of distribution:
$ 73,382.40
(b) The amounts below are for the aggregate of all Certificates.
v) The Pool Scheduled Principal Balances of each Mortgage Pool on
the preceding Due Date after giving effect to all distributions
allocable to principal made on such Distribution Date:
$ 486,523,834.03
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above: 1,801
vi) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each
Class after giving effect to (i) all distributions allocable to
principal made on such Distribution Date and (ii) the allocation
of any Realized Losses and any Subordinate Writedown Certificate
Amount for such Distribution Date:
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 5-A1.........$ 30,866,274.43 $ 989.64
Class 5-A2.........$ 201,185,712.00 $ 1,000.00
Class 5-A3.........$ 6,100,000.00 $ 1,000.00
Class 5-A4.........$ 1,950,000.00 $ 1,000.00
Class 5-A5.........$ 9,919,526.31 $ 998.66
Class 5-A6.........$ 207,385,564.00 $ 999.68
Class 5-A7.........$ 7,695,792.53 $ 732.93
Class 5-PO1........$ 135,409.20 $ 998.45
Class 5-PO2........$ 498,680.64 $ 998.08
Class 5-M..........$ 7,336,543.37 $ 998.66
Class 5-B1.........$ 4,891,028.91 $ 998.66
Class 5-B2.........$ 3,668,272.19 $ 998.66
Class 5-B3.........$ 2,445,514.46 $ 998.66
Class 5-B4.........$ 733,654.24 $ 998.66
<PAGE>
Class 5-B5.........$ 1,711,861.75 $ 998.66
Class 5-R..........$ 0.00 $ 0.00
Class 5-S1.........$ 131,945,136.89 $ 989.44
Class 5-S2.........$ 324,379,124.07 $ 994.55
vii) The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in
lieu of foreclosure or otherwise, of any REO Mortgage Loan:
book value..................................$ 0.00
unpaid principal balance....................$ 0.00
number of related mortgage loans............ 0
viii)The aggregate number and aggregate Principal Balances of
Mortgage Loans which, as of the close of business on the last day
of the month preceding the related Determination Date, were:
(a) delinquent
(1) 30-59 days
Number 43 Principal Balance $ 12,326,776.98
(2) 60-89 days
Number 1 Principal Balance $ 272,800.00
(3) 90 days or more
Number 0 Principal Balance $ 0.00
(b) in foreclosure
Number 0 Principal Balance $ 0.00
ix) The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to Section 2.03(b), and of any Modified Mortgage Loan
purchased pursuant to Section 3.01(c): .........$ 0.00
x) The Certificate Interest Rates, applicable to the Interest
Accrual Period relating to such Distribution Date:
Class 5-S1: ......................0.463069%
Class 5-S2: ......................0.340749%
1. Senior Percentage for such Distribution Date: 95.72960200%
2. Category A-Senior Percentage for such Distribution
Date: ....................................... 10.05160800%
3. Category B-Senior Percentage for such Distribution
Date: ....................................... 85.67799400%
4. Category A-Percentage for such Distribution
Date: ....................................... 10.50000000%
<PAGE>
5. Category B-Percentage for such Distribution
Date: ....................................... 89.50000000%
6. Group I Senior Percentage for such Distribution
Date: ....................................... 52.38858600%
7. Category A-Group I Senior Percentage for such
Distribution Date: .......................... 8.01376800%
8. Category B-Group I Senior Percentage for such
Distribution Date: ......................... 44.37481800%
9. Group II Senior Percentage for such Distribution
Date: ....................................... 43.34101600%
10. Category A-Group II Senior Percentage for such
Distribution Date: ......................... 2.03784000%
11. Category B-Group II Senior Percentage for such
Distribution Date: ......................... 41.30317600%
12. Category B-Group I Scheduled Distribution
Percentage:................................. 85.67799400%
13. Category B-Group II Scheduled Distribution
Percentage:................................. 0.00000000%
14. Senior Prepayment Percentage for such Distribution
Date:....................................... 100.00000000%
15. Category A-Senior Prepayment Percentage
for such Distribution Date: ................ 10.50000000%
16. Category B-Senior Prepayment Percentage for
such Distribution Date: .................... 89.50000000%
17. Group I Senior Prepayment Percentage for such
Distribution Date: ......................... 100.00000000%
18. Category A-Group I Senior Prepayment Percentage for such
Distribution Date: ......................... 10.50000000%
19. Category B-Group I Senior Prepayment Percentage for such
Distribution Date: ......................... 89.50000000%
20. Group II Senior Prepayment Percentage for such
Distribution Date: ......................... 0.00000000%
21. Category A-Group II Senior Prepayment Percentage for such
Distribution Date: ......................... 0.00000000%
22. Category B-Group II Senior Prepayment Percentage for such
Distribution Date: ......................... 0.00000000%
23. Junior Percentage for such Distribution Date: 4.27039800%
<PAGE>
24. Junior Prepayment Percentage for such Distribution
Date: ....................................... 0.00000000%
25. Subordinate Certificate Writedown Amount for such
Distribution Date: .......................... 0.00000000%
Exhibit 99.13
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
JULY 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-6
Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
(a) Principal .........................$ 268,398.98
(b) Interest ..........................$ 2,704,461.81
(c) Total .............................$ 2,972,860.79
2. Aggregate Monthly Payments Received and Monthly Advances made
this month:
(a) Principal .........................$ 268,398.98
(b) Interest ..........................$ 2,624,090.85
(c) Total .............................$ 2,892,489.83
3. Aggregate Principal Prepayments in part received and applied in
prior month:.............................$ 138,031.92
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal .........................$ 1,609,448.71
(b) Interest ..........................$ 7,188.87
(c) Total .............................$ 1,616,637.58
<PAGE>
5. Aggregate Insurance Proceeds (including purchases of Mortgage
Loans by primary mortgage insurers) for prior month:
(a) Principal .........................$ 0.00
(b) Interest ..........................$ 0.00
(c) Total .............................$ 0.00
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal .........................$ 0.00
(b) Interest ..........................$ 0.00
(c) Total .............................$ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage
Loans:
(a) Principal .........................$ 0.00
(b) Interest ..........................$ 0.00
(c) Total .............................$ 0.00
8. Aggregate Purchase Prices ( and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal .........................$ 0.00
(b) Interest ..........................$ 0.00
(c) Total .............................$ 0.00
9. Pool Scheduled Principal Balance: .......$ 398,810,508.76
10. Available Funds: .......................$ 4,647,159.33
11. Realized Losses for prior month: ........$ 0.00
12. Aggregate Realized Losses and Debt Service Reductions:
(a) Deficient Valuations: ...............$ 0.00
(b) Special Hazard Losses: ..............$ 0.00
(c) Fraud Losses: .......................$ 0.00
(d) Excess Bankruptcy Losses: ...........$ 0.00
(e) Excess Special Hazard Losses: .......$ 0.00
(f) Excess Fraud Losses: ................$ 0.00
(g) Debt Service Reductions: ............$ 0.00
13. Compensating Interest Payment: ..........$ 862.10
<PAGE>
14. Accrued Certificate Interest, Unpaid Class Interest Shortfalls
and Pay-out Rate:
Class 6-A1......$ 346,297.81 $ 0.00 7.49999995%
Class 6-A2......$ 169,700.00 $ 0.00 7.50000000%
Class 6-A3......$ 50,093.75 $ 0.00 7.50000000%
Class 6-A4......$ 356,250.00 $ 0.00 7.50000000%
Class 6-A5......$ 37,506.91 $ 0.00 7.50000075%
Class 6-A6......$ 253,912.63 $ 0.00 7.49999996%
Class 6-A7 .....$ 12,043.75 $ 0.00 7.50000000%
Class 6-A8 .....$ 123,831.25 $ 0.00 7.50000000%
Class 6-A9 .....$ 23,006.03 $ 0.00 7.49999959%
Class 6-A10 ....$ 66,512.26 $ 0.00 7.50000042%
Class 6-A11 ....$ 0.00 $ 0.00 0.00000000%
Component A11A .$ 0.00 $ 0.00 0.00000000%
Component A11B .$ 0.00 $ 0.00 0.00000000%
Class 6-A12 ....$ 381.25 $ 0.00 7.50000000%
Class 6-A13 ....$ 89,406.25 $ 0.00 7.50000000%
Class 6-A14 ....$ 0.00 $ 0.00 0.00000000%
Class 6-A15 ....$ 55,017.96 $ 0.00 7.49999966%
Class 6-A16 ....$ 149,457.12 $ 0.00 7.15000013%
Class 6-A17 ....$ 499,673.59 $ 0.00 7.24999993%
Class 6-A18 ....$ 147,277.07 $ 0.00 8.99999985%
Class 6-PO .....$ 0.00 $ 0.00 0.00000000%
Class 6-M.......$ 37,577.47 $ 0.00 7.50000025%
Class 6-B1......$ 25,051.64 $ 0.00 7.49999888%
Class 6-B2......$ 18,788.72 $ 0.00 7.49999551%
Class 6-B3......$ 12,525.80 $ 0.00 7.49998877%
Class 6-B4......$ 3,757.72 $ 0.00 7.49995260%
Class 6-B5......$ 8,768.09 $ 0.00 7.49998583%
Class 6-S.......$ 128,729.52 $ 0.00 0.40483346%
Class 6-R.......$ 0.63 $ 0.00 7.56000000%
15. Accrual Amount:
Class A11A Component $ 1,875.00
Class A11B Component $ 13,000.00
Class A14 Component $ 837.50
16. Principal distributable:
Class 6-A1......$ 424,059.11 Class 6-A14..$ 0.00
Class 6-A2......$ 0.00 Class 6-A15..$ 0.00
Class 6-A3......$ 0.00 Class 6-A16..$ 191,976.68
Class 6-A4......$ 38,159.97 Class 6-A17..$ 632,974.63
Class 6-A5......$ 0.00 Class 6-A18..$ 150,290.15
Class 6-A6..... $ 105,129.65 Class 6-PO...$ 395.83
Class 6-A7..... $ 0.00 Class 6-M....$ 4,025.14
Class 6-A8..... $ 13,264.27 Class 6-B1...$ 2,683.42
<PAGE>
Class 6-A9..... $ 0.00 Class 6-B2...$ 2,012.57
Class 6-A10.....$ 44,196.00 Class 6-B3...$ 1,341.71
Class 6-A11.....$ 418,803.77 Class 6-B4...$ 402.51
Component-A11A..$ 109,918.88 Class 6-B5...$ 939.20
Component-A11B..$ 308,884.89 Class 6-R....$ 100.00
Class 6-A12.....$ 837.50
Class 6-A13.....$ 0.00
17. Additional distributions to the Class 6-R Certificate pursuant to
Section 4.01(b): .........................$ 0.00
18. Certificate Interest Rates of:
Class 6-S Certificates:..... 0.404833%
B. Other Amounts:
1. Senior Percentage for such Distribution Date: .........95.745560%
2. Category A-Senior Percentage for such Distribution
Date: .................................................68.679938%
3. Category B-Senior Percentage for such Distribution
Date: .................................................19.792309%
4. Category C-Senior Percentage for such Distribution
Date: ................................................. 7.273312%
5. Category A-Percentage for such Distribution Date: .....71.731722%
6. Category B-Percentage for such Distribution Date: .....20.671778%
7. Category C-Percentage for such Distribution Date: ..... 7.596500%
8. Group I Senior Percentage for such Distribution Date: .72.940573%
9. Category A-Group I Senior Percentage for such
Distribution Date: ....................................54.444460%
10. Category B-Group I Senior Percentage for such
Distribution Date: ...................................14.844107%
11. Category C-Group I Senior Percentage for such
Distribution Date: ................................... 3.652006%
12. Category C-Group I Scheduled Distribution Percentage for such
Distribution Date: ................................... 7.273312%
13. Group II Senior Percentage for such Distribution Date:22.804987%
<PAGE>
14. Category A-Group II Senior Percentage for such
Distribution Date: ...................................14.235478%
15. Category B-Group II Senior Percentage for such
Distribution Date: ................................... 4.948202%
16. Category C-Group II Senior Percentage for such
Distribution Date: ................................... 3.621306%
17. Category C-Group II Scheduled Distribution Percentage for such
Distribution Date: ................................... 0.000000%
18. Senior Prepayment Percentage for such Distribution
Date: ...............................................100.000000%
19. Category A-Senior Prepayment Percentage
for such Distribution Date: ......................... 71.731722%
20. Category B-Senior Prepayment Percentage
for such Distribution Date: ......................... 20.671778%
21. Category C-Senior Prepayment Percentage
for such Distribution Date: ......................... 7.596500%
22. Group I Senior Prepayment Percentage for such
Distribution Date: ..................................100.000000%
23. Category A-Group I Senior Prepayment Percentage for such
Distribution Date: .................................. 71.731722%
24. Category B-Group I Senior Prepayment Percentage for such
Distribution Date: ................................. 20.671778%
25. Category C-Group I Senior Prepayment Percentage for such
Distribution Date: ................................. 7.596500%
26. Group II Senior Prepayment Percentage for such
Distribution Date: ................................. 0.000000%
27. Category A-Group II Senior Prepayment Percentage for such
Distribution Date: ................................. 0.000000%
28. Category B-Group II Senior Prepayment Percentage for such
Distribution Date: ................................. 0.000000%
29. Category C-Group II Senior Prepayment Percentage for such
Distribution Date: ................................. 0.000000%
30. Junior Percentage for such Distribution Date: ...... 4.254440%
31. Junior Prepayment Percentage for such Distribution
Date: .............................................. 0.000000%
<PAGE>
32. Subordinate Certificate Writedown Amount for such
Distribution Date: .................................$ 0.00
33. Prepayment Distribution Triggers satisfied:
YES NO
--- --
Class 6-B1....... X
Class 6-B2....... X
Class 6-B3....... X
Class 6-B4....... X
Class 6-B5....... X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
-----------------------------------
Name: Karen Pickett
Title: Vice-President
Investor Operations
Exhibit 99.14
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
JULY 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-6
Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
(a) The amounts below (other than for Class R) are for a Single Certificate
of $1,000:
i) The amount of such distribution allocable to principal:
Class 6-A1......$ 7.65343973 Class 6-A13.....$ 0.00000000
Class 6-A2......$ 0.00000000 Class 6-A14.....$ 0.00000000
Class 6-A3......$ 0.00000000 Class 6-A15.....$ 0.00000000
Class 6-A4......$ 0.66947316 Class 6-A16.....$ 7.65343981
Class 6-A5......$ 0.00000000 Class 6-A17.....$ 7.65343969
Class 6-A6......$ 2.58774173 Class 6-A18.....$ 7.65343923
Class 6-A7......$ 0.00000000 Class 6-PO......$ 0.94619137
Class 6-A8......$ 0.66947307 Class 6-M.......$ 0.66947365
Class 6-A9......$ 0.00000000 Class 6-B1......$ 0.66947204
Class 6-A10.....$ 4.15299398 Class 6-B2......$ 0.66947376
Class 6-A11.....$ 175.96797059 Class 6-B3......$ 0.66947221
Component A11A..$ 366.40000000 Class 6-B4......$ 0.66946755
Component A11B..$ 148.50000000 Class 6-B5......$ 0.66947179
Class 6-A12.....$ 13.72950820 Class 6-R.......$ 1000.00000000
ii) Principal Prepayments included in the above principal
distribution (including the Scheduled Principal Balances of all
Defaulted Mortgage Loans and Defective Mortgage Loans purchased
pursuant to Section 2.02, 2.03 (b) or 3.16, respectively, and any
amounts deposited pursuant to Section 2.03(b) in connection with
the substitution of any Mortgage Loans pursuant to Section 2.02
or 2.03(a), the proceeds of which are being distributed on such
Distribution Date)
Class 6-A1......$ 6.67218963 Class 6-A14....$ 0.00000000
Class 6-A2......$ 0.00000000 Class 6-A15....$ 0.00000000
Class 6-A3......$ 0.00000000 Class 6-A16....$ 6.67218970
Class 6-A4......$ 0.58363978 Class 6-A17....$ 6.67218960
<PAGE>
Class 6-A5......$ 0.00000000 Class 6-A18....$ 6.67218920
Class 6-A6......$ 2.25596649 Class 6-PO.....$ 0.82487985
Class 6-A7......$ 0.00000000 Class 6-M......$ 0.00000000
Class 6-A8......$ 0.58363970 Class 6-B1.....$ 0.00000000
Class 6-A9......$ 0.00000000 Class 6-B2.....$ 0.00000000
Class 6-A10.....$ 3.62053722 Class 6-B3.....$ 0.00000000
Class 6-A11.....$ 153.40705756 Class 6-B4.....$ 0.00000000
Component A11A..$ 319.42373207 Class 6-B5.....$ 0.00000000
Component A11B..$ 129.46076477 Class 6-R......$ 871.78966177
Class 6-A12.....$ 11.96924331
Class 6-A13.....$ 0.00000000
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 6-A1...... 6.24999995 Class 6-A15.... 6.24999972
Class 6-A2...... 6.25000000 Class 6-A16.... 5.95833344
Class 6-A3...... 6.25000000 Class 6-A17.... 6.04166661
Class 6-A4...... 6.25000000 Class 6-A18.... 7.49999987
Class 6-A5...... 6.25000062 Class 6-M...... 6.25000021
Class 6-A6...... 6.24999997 Class 6-B1..... 6.24999906
Class 6-A7...... 6.25000000 Class 6-B2..... 6.24999626
Class 6-A8...... 6.25000000 Class 6-B3..... 6.24999064
Class 6-A9...... 6.24999966 Class 6-B4..... 6.24996050
Class 6-A10..... 6.25000035 Class 6-B5..... 6.24998819
Class 6-A11..... 0.00000000 Class 6-R...... 6.30000000
Component A11A.. 0.00000000 Class 6-S...... 0.64232060
Component A11B.. 0.00000000
Class 6-A12..... 6.25000000
Class 6-A13..... 6.25000000
Class 6-A14..... 0.00000000
iv) Accrual Amount:
Class A11A Component $ 1,875.00
Class A11B Component $ 13,000.00
Class A14 Component $ 837.50
v) The amount of servicing compensation received by the Company
during the month preceding the month of distribution:
$ 18,142.76
(b) The amounts below are for the aggregate of all Certificates.
vi) The Pool Scheduled Principal Balances of each Mortgage Pool on
the preceding Due Date after giving effect to all distributions
allocable to principal made on such Distribution Date:
$ 398,810,508.76
<PAGE>
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:..... 1,340
vii) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each
Class after giving effect to (i) all distributions allocable to
principal made on such Distribution Date and (ii) the allocation
of any Realized Losses and any Subordinate Writedown Certificate
Amount for such Distribution Date:
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 6-A1.....$ 54,983,590.89 $ 992.35
Class 6-A2.....$ 27,152,000.00 $ 1,000.00
Class 6-A3.....$ 8,015,000.00 $ 1,000.00
Class 6-A4.....$ 56,961,840.03 $ 999.33
Class 6-A5.....$ 6,001,105.00 $ 1,000.00
Class 6-A6.....$ 40,520,891.35 $ 997.41
Class 6-A7.....$ 1,927,000.00 $ 1,000.00
Class 6-A8.....$ 19,799,735.73 $ 999.33
Class 6-A9.....$ 3,680,965.00 $ 1,000.00
Class 6-A10....$ 10,597,765.00 $ 995.85
Class 6-A11....$ 1,976,071.23 $ 830.28
Component A11A.$ 191,956.12 $ 639.85
Component A11B.$ 1,784,115.11 $ 857.75
Class 6-A12....$ 60,162.50 $ 986.27
Class 6-A13....$ 14,305,000.00 $ 1,000.00
Class 6-A14....$ 134,837.50 $ 1,006.25
Class 6-A15....$ 8,802,874.00 $ 1,000.00
Class 6-A16....$ 24,891,735.32 $ 992.35
Class 6-A17....$ 82,071,620.37 $ 992.35
Class 6-A18....$ 19,486,652.85 $ 992.35
Class 6-PO.....$ 417,944.49 $ 999.05
Class 6-M......$ 6,008,369.86 $ 999.33
Class 6-B1.....$ 4,005,579.58 $ 999.33
Class 6-B2.....$ 3,004,184.43 $ 999.33
Class 6-B3.....$ 2,002,789.29 $ 999.33
Class 6-B4.....$ 600,836.49 $ 999.33
Class 6-B5.....$ 1,401,957.85 $ 999.33
Class 6-R......$ 0.00 $ 0.00
Class 6-S......$ 379,579,402.19 $ 994.76
viii)The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in
lieu of foreclosure or otherwise, of any REO Mortgage Loan:
book value...................................$ 0.00
unpaid principal balance.....................$ 0.00
number of related mortgage loans............. 0
<PAGE>
ix) The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the
month preceding the related Determination Date, were:
(a) delinquent
(1) 30-59 days
Number 30 Principal Balance $ 9,156,772.49
(2) 60-89 days
Number 0 Principal Balance $ 0.00
(3) 90 days or more
Number 0 Principal Balance $ 0.00
(b) in foreclosure
Number 0 Principal Balance $ 0.00
v) The Scheduled Principal Balance of any Mortgage Loan and number
of replaced pursuant to Section 2.03(b), and of any Modified
Mortgage Loan purchased pursuant to Section 3.01(c):
$ 0.00 $ 0.00
vi) The Scheduled Principal Balance of any Mortgage Loan and number
of any Modified Mortgage Loan purchased pursuant to Section
3.01(c): $ 0.00 $ 0.00
vii) The Certificate Interest Rates, applicable to the Interest
Accrual Period relating to such Distribution Date:
Class 6-S:.............. 0.404833%
13. Senior Percentage for such Distribution Date: 95.74556000%
14. Category A-Senior Percentage for such Distribution
Date: ...................................... 68.67993800%
15. Category B-Senior Percentage for such Distribution
Date: ...................................... 19.79230900%
16. Category C-Senior Percentage for such Distribution
Date: ...................................... 7.27331200%
17. Category A-Percentage for such Distribution
Date: ...................................... 71.73172200%
18. Category B-Percentage for such Distribution
Date: ...................................... 20.67177800%
19. Category C-Percentage for such Distribution
Date: ...................................... 7.59650000%
20. Group I Senior Percentage for such Distribution
Date: ...................................... 72.94057300%
21. Category A-Group I Senior Percentage for such
Distribution Date: ......................... 54.44446000%
<PAGE>
22. Category B-Group I Senior Percentage for such
Distribution Date: ......................... 14.84410700%
23. Category C-Group I Senior Percentage for such
Distribution Date: ......................... 3.65200600%
24. Category C-Group I Scheduled Distribution Percentage for such
Distribution Date: ......................... 7.27331200%
25. Group II Senior Percentage for such Distribution
Date: ...................................... 22.80498700%
26. Category A-Group II Senior Percentage for such
Distribution Date: ......................... 14.23547800%
27. Category B-Group II Senior Percentage for such
Distribution Date: ......................... 4.94820200%
28. Category C-Group II Senior Percentage for such
Distribution Date: ......................... 3.62130600%
29. Category C-Group II Scheduled Distribution Percentage for
such Distribution Date: .................... 0.00000000%
30. Senior Prepayment Percentage for such Distribution
Date: ...................................... 100.00000000%
31. Category A-Senior Prepayment Percentage
for such Distribution Date: ................ 71.73172200%
32. Category B-Senior Prepayment Percentage
for such Distribution Date: ................ 20.67177800%
33. Category C-Senior Prepayment Percentage
for such Distribution Date: ................ 7.59650000%
34. Group I Senior Prepayment Percentage for such
Distribution Date: .......................... 100.00000000%
35. Category A-Group I Senior Prepayment Percentage for such
Distribution Date: .......................... 71.73172200%
36. Category B-Group I Senior Prepayment Percentage for such
Distribution Date: .......................... 20.67177800%
37. Category C-Group I Senior Prepayment Percentage for such
Distribution Date: .......................... 7.59650000%
38. Group II Senior Prepayment Percentage for such
Distribution Date: .......................... 0.00000000%
39. Category A-Group II Senior Prepayment Percentage for such
Distribution Date: .......................... 0.00000000%
40. Category B-Group II Senior Prepayment Percentage for such
Distribution Date: .......................... 0.00000000%
<PAGE>
41. Category C-Group II Senior Prepayment Percentage for such
Distribution Date: ........................... 0.00000000%
42. Junior Percentage for such Distribution Date: 4.25444000%
43. Junior Prepayment Percentage for such Distribution
Date: ....................................... 0.00000000%
Exhibit 99.15
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
JULY 1997
Home Equity Loan Pass-Through Certificates
Series 1997-HE2
Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company"),
and The First National Bank of Chicago (the "Trustee"), governing the
Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
(1) Aggregate Monthly Payments Due: $ 3,706.212.52
(2) Aggregate Monthly Payments received and Monthly Advances made
this Month:
(a) Principal $ 485,447.77
(b) Interest $ 1,981,829.82
(c) Total $ 2,467,277.59
(3) Aggregate Principal Prepayments in part received on Self-
Amortizing Mortgage Loans and applied in the applicable
Prepayment Period:
(a) Principal $ 69,219.49
(c) Total $ 69,219.49
(4) Aggregate Principal Prepayments in full received in the
applicable Prepayment period:
(a) Principal $ 239,030.26
(b) Interest $ 3,079.89
(c) Total $ 242,110.15
<PAGE>
(5) Aggregate Insurance Proceeds (inculding purchases of Mortgage
Loans by primary mortgage insurers) for prior month:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(6) Aggregate Liquidation Proceeds for prior month:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(7) Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(8) Aggregate Purchase Prices for (and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal $ 64,749.30
(b) Interest $ 344.16
(c) Total $ 65,093.46
(9) Aggregate Purchase Prices for for Document Deficiencies per Sec.
2.02:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(10) Pool Principal Balance: $ 244,445,941.44
(11) Available Funds: $ 2,744,763.46
<PAGE>
(12) Realized Losses for prior month: $ 0.00
(13) Aggregate Realized Losses:
(a) Deficient Valuations $ 0.00
(b) Special Hazard Losses $ 0.00
(c) Fraud Losses $ 0.00
(d) Excess Bankruptcy Losses $ 0.00
(e) Excess Special Hazard Losses $ 0.00
(f) Excess Fraud Losses $ 0.00
(14) Compensating Interest Payment: $ 2,845.53
(15) Net Simple Interest Shortfall: $ 0.00
(16) Net Simple Interest Excess: $ 0.00
(17) Simple Interest Shortfall Payment: $ 0.00
(18) Unpaid Net Simple Interest Shortfall:
Class A1 36157RAA3 $ 0.00
Class A2 36157RAB1 $ 0.00
Class A3 36157RAC9 $ 0.00
Class A4 36157RAD7 $ 0.00
Class A5 36157RAE5 $ 0.00
Class A6 36157RAF2 $ 0.00
Class A7 36157RAG0 $ 0.00
Class S 36197HE2S $ 0.00
Class M 36157RAH8 $ 0.00
Class B1 36157RAJ4 $ 0.00
Class B2 36157RAK1 $ 0.00
Class B3 36157RAL9 $ 0.00
Class B4 36157RAM7 $ 0.00
Class B5 36157RAN5 $ 0.00
<PAGE>
(19) Class Certificate Interest Rate:
Class M 36157RAH8 7.410%
Class B1 36157RAJ4 7.585%
Class B2 36157RAK1 7.925%
Class B3 36157RAL9 9.260%
Class B4 36157RAM7 9.260%
Class B5 36157RAN5 9.260%
Class S 36197HE2S 2.210%
(20) Accrued Certificate Interest and Pay-out Rate:
Class A1 36157RAA3 $ 375,193.33 6.740%
Class A2 36157RAB1 $ 236,637.08 6.745%
Class A3 36157RAC9 $ 125,259.17 6.895%
Class A4 36157RAD7 $ 178,770.00 7.080%
Class A5 36157RAE5 $ 82,028.75 7.185%
Class A6 36157RAF2 $ 169,316.94 7.485%
Class A7 36157RAG0 $ 133,072.80 7.120%
Class S 36197HE2S $ 450,372.38 2.210%
Class M 36157RAH8 $ 37,741.60 7.410%
Class B1 36157RAJ4 $ 38,632.93 7.585%
Class B2 36157RAK1 $ 12,112.04 7.925%
Class B3 36157RAL9 $ 18,867.40 9.260%
Class B4 36157RAM7 $ 14,152.48 9.260%
Class B5 36157RAN5 $ 14,159.74 9.260%
TOTAL $ 1,886,316.64
(21) Principal distributable:
Class A1 36157RAA3 $ 817,387.15
Class A2 36157RAB1 $ 0.00
Class A3 36157RAC9 $ 0.00
Class A4 36157RAD7 $ 0.00
Class A5 36157RAE5 $ 0.00
Class A6 36157RAF2 $ 0.00
Class A7 36157RAG0 $ 0.00
Class M 36157RAH8 $ 12,137.89
Class B1 36157RAJ4 $ 12,137.89
Class B2 36157RAK1 $ 3,642.16
Class B3 36157RAL9 $ 4,855.55
Class B4 36157RAM7 $ 3,642.16
Class B5 36157RAN5 $ 3,644.03
Class R1 36157RAP0 $ 500.00
Class R2 36157RAQ8 $ 500.00
TOTAL $ 858,446.82
<PAGE>
(22) Additional distributions to the Class R1 Certificate pursuant to
Section 2.05 (d): $ 0.00
(23) Additional distributions to the Class R2 Certificate pursuant to
Section 4.01 (b): $ 0.00
B. Other Amounts:
(1) Senior Percentage for such Distribution Date: 91.747893%
(2) Senior Prepayment Percentage for such Distribution
Date: 100.000000%
(3) Junior Percentage for such Distribution Date: 8.252107%
(4) Junior Prepayment Percentage for such Distribution
Date: 0.000000%
(5) Subordinate Certfificate Writedown Amount for such Distribution
Date: $ 0.00
(6) Prepayment Distribution Triggers satisfied:
Yes No
--- --
Class B1 X
Class B2 X
Class B3 X
Class B4 X
Class B5 X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
----------------------------------------
Name: Karen Pickett
Title: Vice President,
Investor Operations
Exhibit 99.16
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
JULY 1997
Home Equity Loan Pass-Through Certificates
Series 1997-HE2
Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company"),
and The First National Bank of Chicago (the "Trustee"), governing the
Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
The amounts below are for a Single Certificate of $1,000:
(1) Amount of distribution allocable to principal:
Class A1 36157RAA3 $ 12.23633457
Class A2 36157RAB1 $ 0.00000000
Class A3 36157RAC9 $ 0.00000000
Class A4 36157RAD7 $ 0.00000000
Class A5 36157RAE5 $ 0.00000000
Class A6 36157RAF2 $ 0.00000000
Class A7 36157RAG0 $ 0.00000000
Class M 36157RAH8 $ 1.98591053
Class B1 36157RAJ4 $ 1.98591053
Class B2 36157RAK1 $ 1.98591053
Class B3 36157RAL9 $ 1.98591053
Class B4 36157RAM7 $ 1.98591053
Class B5 36157RAN5 $ 1.98591053
Class R1 36157RAP0 $ 500.00000000
Class R2 36157RAQ8 $ 500.00000000
(2) Aggregate Principal prepayments included in distribution:
<PAGE>
Class A1 36157RAA3 $ 372,999.05
Class A2 36157RAB1 $ 0.00
Class A3 36157RAC9 $ 0.00
Class A4 36157RAD7 $ 0.00
Class A5 36157RAE5 $ 0.00
Class A6 36157RAF2 $ 0.00
Class A7 36157RAG0 $ 0.00
Class M 36157RAH8 $ 0.00
Class B1 36157RAJ4 $ 0.00
Class B2 36157RAK1 $ 0.00
Class B3 36157RAL9 $ 0.00
Class B4 36157RAM7 $ 0.00
Class B5 36157RAN5 $ 0.00
Class R1 36157RAP0 $ 0.00
Class R2 36157RAQ8 $ 0.00
(3) Amount of distribution allocable to interest Pay-out Rate:
Class A1 36157RAA3 $ 5.61666667 6.740%
Class A2 36157RAB1 $ 5.62083333 6.745%
Class A3 36157RAC9 $ 5.74583333 6.895%
Class A4 36157RAD7 $ 5.90000000 7.080%
Class A5 36157RAE5 $ 5.98750000 7.185%
Class A6 36157RAF2 $ 6.23750000 7.485%
Class A7 36157RAG0 $ 5.93333333 7.120%
Class S 36197HE2S $ 1.84242118 2.210%
Class M 36157RAH8 $ 6.17500000 7.410%
Class B1 36157RAJ4 $ 6.32083333 7.585%
Class B2 36157RAK1 $ 6.60416667 7.925%
Class B3 36157RAL9 $ 7.71672667 9.260%
Class B4 36157RAM7 $ 7.71672667 9.260%
Class B5 36157RAN5 $ 7.71672667 9.260%
(4) Servicing Compensation: $ 100,527.75
The amounts below are for the aggregate of all Certificates:
(5) Pool Principal Balance; $ 244,445,941.44
number of Mortgage Loans: 3,461
<PAGE>
(6) Class Certificate Principal Balance of each Class; Certificate
Principal Balance of Single Certificate of each class:
Single
Certificate
Class Cusip# Class Balance Balance
----- ------ ------------- -------
Class A1 36157RAA3 $ 65,982,612.85 $ 987.76366543
Class A2 36157RAB1 $ 42,100,000.00 $1,000.00000000
Class A3 36157RAC9 $ 21,800,000.00 $1,000.00000000
Class A4 36157RAD7 $ 30,300,000.00 $1,000.00000000
Class A5 36157RAE5 $ 13,700,000.00 $1,000.00000000
Class A6 36157RAF2 $ 27,145,000.00 $1,000.00000000
Class A7 36157RAG0 $ 22,428,000.00 $1,000.00000000
Class M 36157RAH8 $ 6,099,862.11 $ 998.01408947
Class B1 36157RAJ4 $ 6,099,862.11 $ 998.01408947
Class B2 36157RAK1 $ 1,830,357.84 $ 998.01408947
Class B3 36157RAL9 $ 2,440,144.45 $ 998.01408947
Class B4 36157RAM7 $ 1,830,357.84 $ 998.01408947
Class B5 36157RAN5 $ 1,831,297.41 $ 998.01408947
Class R1 36157RAP0 $ 0.00 $ 0.00000000
Class R2 36157RAQ8 $ 0.00 $ 0.00000000
(7) Book value of real estate acquired on behalf of
Certificateholders; $ 0.00
number of related Mortgage Loans: 0
(8) Aggregate Scheduled Principal Balance and number of delinquent
Mortgage Loans:
One Payment Delinquent $ 1,391,183.00
20
Two Payments Delinquent $ 105,349.29
1
Three or more Payments Delinquent $ 0.00
0
TOTAL $ 1,496,532.29
21
In foreclosure $ 0.00
0
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(9) Aggregate Scheduled Principal Balance; $ 0.00
and number of replaced Mortgage Loans: 0
(10) Unpaid Net Simple Interest Shortfall:
Class A1 36157RAA3 $ 0.00
Class A2 36157RAB1 $ 0.00
Class A3 36157RAC9 $ 0.00
Class A4 36157RAD7 $ 0.00
Class A5 36157RAE5 $ 0.00
Class A6 36157RAF2 $ 0.00
Class A7 36157RAG0 $ 0.00
Class S 36197HE2S $ 0.00
Class M 36157RAH8 $ 0.00
Class B1 36157RAJ4 $ 0.00
Class B2 36157RAK1 $ 0.00
Class B3 36157RAL9 $ 0.00
Class B4 36157RAM7 $ 0.oo
Class B5 36157RAN5 $ 0.00
(11) Class Certificate Interest Rate of:
Class M 36157RAH8 7.410%
Class B1 36157RAJ4 7.585%
Class B2 36157RAK1 7.925%
Class B3 36157RAL9 9.260%
Class B4 36157RAM7 9.260%
Class B5 36157RAN5 9.260%
Class S 36197HE2S 2.210%
(12) Senior Percentage for such Distribution Date: 91.747893%
(13) Senior Prepayment Percentage for such Distribution Date: 100.000000%
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(14) Junior Percentage for such Distribution Date: 8.252107%
(15) Junior Prepayment Percentage for such Distribution Date: 0.000000%
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
---------------------------------------
Name: Karen Pickett
Title: Vice President,
Investor Operations
