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 30, 1997
GE CAPITAL MORTGAGE SERVICES, INC.
(as Seller and Servicer under the Pooling and
Servicing Agreement, dated as of July 1, 1997,
providing for the issuance of REMIC Multi-Class
Pass-Through Certificates, Series 1997-7)
GE Capital Mortgage Services, Inc.
(Exact name of registrant as specified in its charter)
New Jersey 33-5042 21-0627285
(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
Three Executive Campus
Cherry Hill, New Jersey 08002
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code (609) 661-6100
<PAGE>
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
General.
On July 30, 1997 GE Capital Mortgage Services, Inc. ("GECMSI")
offered to investors certain classes of its REMIC Multi-Class
Pass-Through Certificates, Series 1997-7 (the "Certificates")
evidencing beneficial ownership interests in a trust fund (the
"Trust Fund"). The assets of the Trust Fund consist primarily of
a pool ("Pool 1997-7") of conventional, one- to four-family
residential loans (the "Mortgage Loans"). Capitalized terms used
herein and not otherwise defined shall have the meanings assigned
to them in the Prospectus dated May 8, 1997 as supplemented by
the Prospectus Supplement dated July 28, 1997.
The original principal balance of each Class of the Certificates is as follows:
Class A1 $31,542,857.00
Class A2 $5,674,200.00
Class A3 $149,968,896.00
Class A4 $16,769,592.00
Class A5 $35,353,749.00
Class A6 $12,029,747.00
Class A7 $4,180,000.00
Class A8 $2,760,000.00
Class A9 $6,800,000.00
Class A10 $10,000,000.00
Class A11 $40,000,000.00
Class A12 $20,000,000.00
Class PO $281,981.71
Class M $5,253,699.00
Class B1 $3,502,466.00
Class B2 $2,626,849.00
Class B3 $1,751,233.00
Class B4 $525,369.00
Class B5 $1,225,865.25
Class R $100.00
Class S (1)
Total : $350,246,603.96
(1) The Class S Certificates are issued with an initial Notional
Principal Balance of $336,919,958.00 and shall bear interest at
the Strip Rate (as defined in the Pooling and Servicing
Agreement).
The initial Junior Percentage and initial Senior Percentage for
Pool 1997-7 are approximately 4.253% and 95.747%, respectively.
The initial Group I Senior Percentage and initial Group II Senior
Percentage are 75.745%, and 20.002%, respectively. The
"Bankruptcy Loss Amount," the "Fraud Loss Amount" and the
"Special Hazard Loss Amount" for Pool 1997-7 as of the initial
issuance of the Certificates are $100,000, $7,004,932 and
$3,502,466, respectively, representing approximately 0.03%,
2.00%, and 1.00%, respectively, of the aggregate Scheduled
Principal Balances of the Mortgage Loans as of July 1, 1997 (the
"Cut-off Date").
2
<PAGE>
Description of the Mortgage Pool and the Mortgaged Properties
Pool 1997-7
Pool 1997-7 consists primarily of fixed-rate, fully-amortizing
conventional Mortgage Loans evidenced by Mortgage Notes which
have original maturities of 20 to 30 years and an aggregate
outstanding Scheduled Principal Balance as of the Cut-off Date,
after deducting payments of principal due on or before such date
and prepayments of principal received before such date, of
$350,246,603.96.
The interest rates (the "Mortgage Rates") borne by the 1,230
Mortgage Loans conveyed by GECMSI to Pool 1997-7 range from
6.8750% to 10.5000% and the weighted average Mortgage Rate as of
the Cut-off Date is 8.1771% per annum (all weighted averages in
this filing are weighted by aggregate outstanding Scheduled
Principal Balance as of the Cut-off Date). At origination, the
principal balances of the Mortgage Loans in Pool 1997-7 ranged
from $36,000.00 to $744,000.00, and, as of the Cut-off Date, the
average outstanding Scheduled Principal Balance of the Mortgage
Loans in Pool 1997-7 is $284,753.34 after application of
principal payments due on or before the Cut-off Date and
prepayments of principal received before such date. The earliest
origination date of any Mortgage Loan in Pool 1997-7 is November
1991, and the latest scheduled maturity date of any such Mortgage
Loan is July 2027. The weighted average loan-to-value ratio of
the Mortgage Loans as of the Cut-off date in Pool 1997-7 is
79.3238%.
3
<PAGE>
The Mortgage Loans in Pool 1997-7 have the following
characteristics as of the Cut-off Date.
a) The following table sets forth information, as of the Cut-off
Date, with respect to the Mortgage Rates borne by the Mortgage
Loans in Pool 1997-7:
AGGREGATE % OF
BALANCES POOL BY
MORTGAGE # OF AS OF AGGREGATE
RATES LOANS CUT-OFF DATE BALANCE
-------- ----- ------------ ---------
6.8750% 1 $440,723.22 0.1258%
7.1250% 1 $257,394.00 0.0735%
7.3750% 3 $792,602.52 0.2263%
7.5000% 10 $2,750,587.86 0.7853%
7.6250% 19 $6,285,421.29 1.7946%
7.7500% 91 $26,260,071.71 7.4976%
7.8750% 139 $42,092,473.61 12.0180%
8.0000% 207 $62,368,545.73 17.8070%
8.1250% 181 $54,699,128.50 15.6172%
8.2500% 173 $50,053,915.36 14.2910%
8.3350% 1 $247,120.02 0.0706%
8.3750% 148 $42,622,905.69 12.1694%
8.5000% 93 $24,848,173.45 7.0945%
8.6250% 62 $17,156,308.71 4.8984%
8.7500% 24 $6,260,285.45 1.7874%
8.8750% 15 $3,870,590.27 1.1051%
8.9400% 1 $270,948.58 0.0774%
9.0000% 14 $2,662,074.41 0.7601%
9.1250% 6 $887,700.58 0.2535%
9.2500% 7 $900,503.42 0.2571%
9.3750% 9 $1,360,794.79 0.3885%
9.5000% 10 $1,523,820.58 0.4351%
9.6250% 4 $508,010.84 0.1450%
9.7500% 5 $720,302.27 0.2057%
9.8750% 1 $44,359.49 0.0127%
10.0000% 1 $44,960.01 0.0128%
10.1250% 2 $142,276.80 0.0406%
10.2500% 1 $129,640.72 0.0370%
10.5000% 1 $44,964.08 0.0128%
Total 1,230 $350,246,603.96 100.0000%
4
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b) The following table sets forth information, as of the Cut-off
Date, with respect to the original principal balances of the
Mortgage Loans in Pool 1997-7 :
AGGREGATE % OF
BALANCES POOL BY
ORIGINAL # OF AS OF AGGREGATE
BALANCES LOANS CUT-OFF DATE BALANCE
-------- ----- ------------ ---------
$ 0 - 214,600 103 $12,361,695.09 3.5294%
$214,601 - 250,000 368 $86,013,973.62 24.5582%
$250,001 - 300,000 376 $102,953,598.44 29.3947%
$300,001 - 350,000 172 $55,935,453.37 15.9703%
$350,001 - 400,000 91 $34,367,399.83 9.8123%
$400,001 - 450,000 48 $20,327,721.80 5.8038%
$450,001 - 600,000 62 $31,821,121.05 9.0853%
$600,001 - 650,000 9 $5,722,091.48 1.6337%
$650,001 - 1,000,000 1 $743,549.28 0.2123%
Total 1,230 $350,246,603.96 100.0000%
The largest outstanding Scheduled Principal Balance of any
Mortgage Loan, as of the Cut-off Date, in Pool 1997-7 is
$743,549.28.
The smallest outstanding Scheduled Principal Balance of any
Mortgage Loan, as of the Cut-off Date, in Pool 1997-7 is
$35,968.85.
c) The following table sets forth information, as of the Cut-off
Date, with respect to the years of origination of the
Mortgage Loans in Pool 1997-7:
AGGREGATE % OF
BALANCES POOL BY
YEAR OF # OF AS OF AGGREGATE
ORIGINATION LOANS CUT-OFF DATE BALANCE
----------- ----- ------------ ---------
1991 1 $219,675.13 0.0627%
1992 1 $179,729.45 0.0513%
1993 2 $687,843.24 0.1964%
1994 1 $239,642.67 0.0684%
1995 4 $976,774.04 0.2789%
1996 18 $4,915,325.30 1.4034%
1997 1,203 $343,027,614.13 97.9389%
Total 1,230 $350,246,603.96 100.0000%
5
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d) The following table sets forth information, as of the
Cut-off Date, with respect to the loan-to-value ratios of
the Mortgage Loans at origination in Pool 1997-7:
LOAN- AGGREGATE % OF
TO-VALUE BALANCES POOL BY
RATIO AT # OF AS OF AGGREGATE
ORIGINATION LOANS CUT-OFF DATE BALANCE
----------- ----- ------------ ---------
00.000 - 50.00 25 $7,944,224.48 2.2682%
50.001 - 60.00 35 $9,847,590.79 2.8116%
60.001 - 70.00 110 $33,536,728.56 9.5752%
70.001 - 75.00 135 $40,134,088.45 11.4588%
75.001 - 80.00 561 $164,056,203.35 46.8401%
80.001 - 85.00 27 $7,556,814.66 2.1576%
85.001 - 90.00 178 $48,567,894.02 13.8668%
90.001 - 95.00 159 $38,603,059.65 11.0217%
95.001 - 100.00 0 $0.00 0.0000%
Total 1,230 $350,246,603.96 100.0000%
e) The following table sets forth information, as of the Cut-off
Date, with respect to the type of Mortgaged Properties
securing the Mortgage Loans in Pool 1997-7:
AGGREGATE % OF
BALANCES POOL BY
TYPE OF # OF AS OF AGGREGATE
DWELLING LOANS CUT-OFF DATE BALANCE
- -------- ----- ------------ ---------
Single-family
detached 1,158 $332,707,211.72 94.9923%
Single-family
attached 22 $5,628,586.15 1.6070%
Condominium 42 $9,866,650.72 2.8171%
2 - 4 Family Units 8 $2,044,155.37 0.5836%
Total 1,230 $350,246,603.96 100.0000%
f) The following table sets forth information, as of the Cut-off
Date, with respect to the occupancy status of the Mortgaged
Properties securing the Mortgage Loans as represented by the
mortgagors at origination in Pool 1997-7:
AGGREGATE % OF
BALANCES POOL BY
# OF AS OF AGGREGATE
OCCUPANCY LOANS CUT-OFF DATE BALANCE
- --------- ----- ------------ ---------
Owner Occupied 1,202 $343,660,449.97 98.1195%
Vacation 20 $5,200,651.89 1.4849%
Investment 8 $1,385,502.10 0.3956%
Total 1,230 $350,246,603.96 100.0000%
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g) The following table sets forth information, as of the Cut-off
Date, with respect to the geographic distribution of the
Mortgaged Properties securing the Mortgage Loans in Pool
1997-7:
AGGREGATE % OF
BALANCES POOL BY
# OF AS OF AGGREGATE
STATE LOANS CUT-OFF DATE BALANCE
- ----- ----- ------------ ---------
Alaska 3 $1,092,129.64 0.3118%
Alabama 7 $1,769,756.69 0.5053%
Arkansas 2 $604,974.22 0.1727%
Arizona 26 $7,160,422.63 2.0444%
California 437 $128,287,568.04 36.6279%
Colorado 33 $9,707,211.09 2.7715%
Connecticut 16 $4,990,980.49 1.4250%
District of Columbia 4 $1,224,797.27 0.3497%
Delaware 2 $504,810.57 0.1441%
Florida 50 $10,872,579.58 3.1043%
Georgia 21 $6,965,478.47 1.9887%
Iowa 2 $778,556.87 0.2223%
Illinois 29 $9,155,144.42 2.6139%
Indiana 7 $2,095,295.23 0.5982%
Kentucky 3 $1,050,820.97 0.3000%
Louisiana 5 $1,862,369.98 0.5317%
Massachusetts 53 $14,721,252.65 4.2031%
Maryland 65 $17,809,021.73 5.0847%
Maine 2 $772,225.11 0.2205%
Michigan 12 $3,362,759.29 0.9601%
Minnesota 9 $2,472,707.53 0.7060%
Missouri 2 $519,524.08 0.1483%
Mississippi 1 $227,108.76 0.0648%
North Carolina 19 $5,187,675.52 1.4811%
New Hampshire 4 $1,470,377.39 0.4198%
New Jersey 79 $21,100,856.11 6.0246%
New Mexico 2 $408,681.39 0.1167%
Nevada 14 $4,614,394.79 1.3175%
New York 28 $7,861,675.00 2.2446%
Ohio 17 $4,271,448.70 1.2196%
Oklahoma 2 $510,383.26 0.1457%
Oregon 5 $1,608,916.80 0.4594%
Pennsylvania 36 $11,119,605.15 3.1748%
Rhode Island 1 $277,292.94 0.0792%
South Carolina 4 $956,960.17 0.2732%
Tennessee 12 $3,449,071.08 0.9848%
Texas 56 $16,114,206.10 4.6008%
Utah 6 $1,525,953.30 0.4357%
Virginia 107 $28,096,340.93 8.0219%
Vermont 1 $259,846.49 0.0742%
Washington 36 $10,622,625.94 3.0329%
Wisconsin 10 $2,782,797.59 0.7945%
Total 1,230 $350,246,603.96 100.0000%
7
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h) The following table sets forth information, as of the Cut-off
Date, with respect to the maturity dates of the Mortgage
Loans in Pool 1997-7:
AGGREGATE % OF
BALANCES POOL BY
YEAR OF # OF AS OF AGGREGATE
MATURITY LOANS CUT-OFF DATE BALANCE
-------- ----- ------------ ---------
2017 7 $2,077,063.18 0.5930%
2021 2 $494,454.46 0.1412%
2022 6 $1,071,114.16 0.3058%
2023 3 $890,782.81 0.2543%
2024 4 $1,178,575.57 0.3365%
2025 3 $705,825.46 0.2015%
2026 12 $3,328,406.59 0.9503%
2027 1,193 $340,500,381.73 97.2174%
Total 1,230 $350,246,603.96 100.0000%
The weighted average scheduled remaining term to maturity of the
Mortgage Loans in Pool 1997-7 calculated as of the Cut-off Date
is 358 months.
i) The following table sets forth information, as of the Cut-off
Date, with respect to the purpose of the Mortgage Loans in
Pool 1997-7:
AGGREGATE % OF
BALANCES POOL BY
PURPOSE # OF AS OF AGGREGATE
OF LOAN LOANS CUT-OFF DATE BALANCE
- ------- ----- ------------ ---------
Purchase 969 $275,215,588.91 78.5776%
Rate Term/Refinance 195 $58,259,932.53 16.6340%
Cash-out Refinance 66 $16,771,082.52 4.7884%
Total 1,230 $350,246,603.96 100.0000%
8
<PAGE>
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS AND
EXHIBITS.
1.1 The Underwriting Agreement, dated as of June 22,
1995, and the related Terms Agreement, dated as of July 28, 1997,
for the Series 1997-7 Certificates between GE Capital Mortgage
Services, Inc. and Credit Suisse First Boston Corporation.
4.1 The Pooling and Servicing Agreement for the Series
1997-7 Certificates, dated as of July 1, 1997, between GE Capital
Mortgage Services, Inc., as seller and servicer, and State Street
Bank and Trust Company, as trustee.
9
<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/ Syed W. Ali
------------------------
Name: Syed W. Ali
Title: Vice President
Dated as of July 30, 1997
10
<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:
------------------------
Name: Syed W. Ali
Title:Vice President
Dated as of July 30, 1997
11
<PAGE>
EXHIBIT INDEX
The exhibits are being filed herewith:
- -------------------------------------------------------------------------------
EXHIBIT NO. DESCRIPTION PAGE
- -------------------------------------------------------------------------------
1.1 The Underwriting Agreement,
dated as of June 22, 1995, and the
related Terms Agreement, dated as
of July 28, 1997, between GE
Capital Mortgage Services, Inc.
and Credit Suisse First Boston
Corporation.
The Pooling and Servicing
4.1 Agreement for the Series 1997-7
Certificates, dated as of July 1,
1997, between GE Capital
Mortgage Services, Inc., as seller
and servicer, and State Street
Bank and Trust Company, as
trustee.
- -------------------------------------------------------------------------------
12
<PAGE>
EXECUTION
GE CAPITAL MORTGAGE SERVICES, INC.
PASS-THROUGH CERTIFICATES
(Issuable in Series)
UNDERWRITING AGREEMENT
CS First Boston Corporation New York, New York
55 East 52nd Street June 22, 1994
New York, New York 10055
Ladies and Gentlemen:
GE Capital Mortgage Services, Inc., a corporation
organized and existing under the laws of the State of New Jersey
(the "Company"), may offer for sale to you (the "Underwriter")
from time to time its Pass-Through Certificates evidencing
interests in pools of mortgage loans (the "Certificates"). The
Certificates may be issued in various series, and within each
series, in one or more classes, in one or more offerings on terms
determined at the time of sale (each such series, a "Series" and
each such class, a "Class"). Each Series of the Certificates will
be issued under a separate Pooling and Servicing Agreement (each,
a "Pooling and Servicing Agreement") to be dated as of the
respective cut-off date (each, a "Cut-off Date") between the
Company, as seller and servicer, and State Street Bank and Trust
Company, as trustee (the "Trustee"). Capitalized terms used but
not defined herein shall have the meanings given to them in the
related Pooling and Servicing Agreement.
The Certificates issued under each Pooling and
Servicing Agreement will represent the entire beneficial
ownership interest in a trust fund (the "Trust Fund") established
by such Pooling and Servicing Agreement. The assets of each Trust
Fund will consist primarily of a pool of conventional, fixed
rate, first lien, fully amortizing, one- to four-family
residential mortgage loans (the "Mortgage Loans") having the
original terms to maturity specified in the related Terms
Agreement referred to hereinbelow. If so specified in the related
Terms Agreement, one or more elections may be made to treat the
assets of each Trust Fund as a real estate mortgage investment
conduit (each, a "REMIC") for federal income tax purposes.
<PAGE>
Whenever the Company determines to make an offering of
Certificates (each, a "Certificate Offering") pursuant to this
Agreement through you, it will enter into an agreement with you
(the "Terms Agreement") providing for the sale of specified
Classes of Offered Certificates (as defined below) to, and the
purchase and public offering thereof by, you. Each such
Certificate Offering which the Company elects to make pursuant to
this Agreement shall be governed by this Agreement, as
supplemented by the related Terms Agreement. Each Terms
Agreement, which shall be substantially in the form of Exhibit A
hereto, shall specify, among other things, the Classes of
Certificates to be purchased by the Underwriter (the "Offered
Certificates"), the principal balance or balances of the Offered
Certificates, each subject to any stated variance, and the price
or prices at which such Offered Certificates are to be purchased
by the Underwriter from the Company.
1. Representations and Warranties. (a) The Company
represents and warrants to and agrees with the Underwriter, as of
the date of the related Terms Agreement, that:
(i) The registration statement specified
in the related Terms Agreement, on Form S-3, including
a prospectus, has been filed with the Securities and
Exchange Commission (the "Commission") for the
registration under the Securities Act of 1933, as
amended (the "Act"), of pass-through certificates
issuable in series, which registration statement has
been declared effective by the Commission. Such
registration statement, as amended to the date of the
related Terms Agreement, including any documents
incorporated by reference therein pursuant to Item 12
of Form S-3 under the Act which were filed under the
Securities Exchange Act of 1934, as amended (the
"Exchange Act"), on or before the effective date of
the Registration Statement, is hereinafter called the
"Registration Statement," and such prospectus, as such
prospectus is supplemented by a prospectus supplement
relating to the Offered Certificates of the related
Series, each in the form first filed after the date of
the related Terms Agreement pursuant to Rule 424(b)
under the Act, including any documents incorporated by
reference therein pursuant to Item 12 of Form S-3
under the Act which were filed under the Exchange Act
on or before the date of such Prospectus Supplement
(other than any such incorporated documents that
relate to Collateral Term Sheets (as defined
herein))(such prospectus supplement, including such
incorporated documents (other than those that relate
to Collateral Term Sheets), in the form first filed
after the date of the related Terms Agreement pursuant
to Rule 424(b) is hereinafter called the "Prospectus
Supplement"), is
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<PAGE>
hereinafter called the "Prospectus". Any reference
herein to the terms "amend," "amendment" or
"supplement" with respect to the Registration
Statement, the Prospectus or the Prospectus Supplement
shall be deemed to refer to and include the filing of
any document under the Exchange Act after the
effective date of the Registration Statement or the
issue date of the Prospectus or Prospectus Supplement,
as the case may be, deemed to be incorporated therein
by reference pursuant to Item 12 of Form S-3 under the
Act.
(ii) The related Registration Statement,
at the time it became effective, and the prospectus
contained therein, and any amendments thereof and
supplements thereto filed prior to the date of the
related Terms Agreement, conformed in all material
respects to the requirements of the Act and the rules
and regulations of the Commission thereunder; on the
date of the related Terms Agreement and on each
Closing Date (as defined in Section 3 below), the
related Registration Statement and the related
Prospectus, and any amendments thereof and supplements
thereto, will conform in all material respects to the
requirements of the Act and the rules and regulations
of the Commission thereunder; such Registration
Statement, at the time it became effective, did not
contain any untrue statement of a material fact or
omit to state a material fact required to be stated
therein or necessary to make the statements therein
not misleading; such Prospectus, on the date of any
filing pursuant to Rule 424(b) and on each Closing
Date, will not include any untrue statement of a
material fact or omit to state a material fact
necessary to make the statements therein, in the light
of the circumstances under which they are made, not
misleading; and the Detailed Description referred to
in such Prospectus, on each Closing Date and the date
of any filing thereof under cover of Form 8-K, will
not include any untrue statement of a material fact or
omit to state any information which such Prospectus
states will be included in such Detailed Description;
provided, however, that the Company makes no
representations or warranties as to the information
contained in or omitted from (A) such Registration
Statement or such Prospectus (or any supplement
thereto) in reliance upon and in conformity with
written information furnished to the Company by or on
behalf of the Underwriter specifically for use in the
preparation thereof or (B) any Current Report (as
defined in Section 5(b) below), or in any amendment
thereof or supplement thereto, incorporated by
reference in such Registration Statement or such
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<PAGE>
Prospectus (or any amendment thereof or supplement
thereto).
(iii) The Certificates of the related
Series will conform to the description thereof
contained in the related Prospectus; will each, if
rated at the time of issuance in one of the two
highest rating categories by a nationally recognized
statistical rating organization, be when issued a
"mortgage related security" as such term is defined in
Section 3(a)(41) of the Exchange Act, and will each on
the related Closing Date be duly and validly
authorized, and, when validly executed, countersigned,
issued and delivered in accordance with the related
Pooling and Servicing Agreement and sold to you as
provided herein and in the related Terms Agreement,
will each be validly issued and outstanding and
entitled to the benefits of the related Pooling and
Servicing Agreement.
(iv) Neither the issuance nor sale of the
Certificates of the related Series nor the
consummation of any other of the transactions herein
contemplated, nor the fulfillment of the terms hereof
or of the related Terms Agreement, will conflict with
any statute, order or regulation applicable to the
Company of any court, regulatory body, administrative
agency or governmental body having jurisdiction over
the Company or with any organizational document of the
Company or any instrument or any agreement under which
the Company is bound or to which it is a party.
(v) This Agreement and the related Terms
Agreement have been duly authorized, executed and
delivered by the Company.
(vi) At or prior to the related Closing
Date, the Company will have entered into the related
Pooling and Servicing Agreement and, assuming the due
authorization, execution and delivery thereof by the
Trustee, such Pooling and Servicing Agreement (on such
Closing Date) will constitute the valid and binding
agreement of the Company enforceable in accordance
with its terms, subject as to enforceability, to
bankruptcy, insolvency, reorganization or other
similar laws affecting creditors' rights and to
general principles of equity (regardless of whether
the enforceability of such Pooling and Servicing
Agreement is considered in a proceeding in equity or
at law).
2. Purchase and Sale. Subject to the execution of
the Terms Agreement for a particular Certificate Offering and
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<PAGE>
subject to the terms and conditions and in reliance upon the
representations and warranties set forth in this Agreement and
such Terms Agreement, the Company agrees to sell to the
Underwriter, and the Underwriter agrees to purchase from the
Company, all, but not less than all, of the related Offered
Certificates at the purchase price therefor set forth in such
Terms Agreement (the "Purchase Price").
The parties hereto agree that settlement for all
securities sold pursuant to this Agreement shall take place on
the terms set forth herein and not as set forth in Rule 15c6-1(a)
of the Exchange Act.
3. Delivery and Payment. Delivery of and payment for
the Offered Certificates of a Series shall be made at the offices
of Cleary, Gottlieb, Steen & Hamilton, New York, New York, at
10:00 A.M., New York City time, on the Closing Date specified in
the related Terms Agreement, which date and time may be postponed
by agreement between the Underwriter and the Company (such date
and time being herein called the "Closing Date"). Delivery of
such Offered Certificates shall be made to the Underwriter
against payment by the Underwriter of the Purchase Price thereof
to or upon the order of the Company by wire transfer in federal
or other immediately available funds or by check payable in
federal funds, as the Company shall specify no later than five
full business days prior to such Closing Date. Unless delivery is
made through the facilities of The Depository Trust Company, the
Offered Certificates shall be registered in such names and in
such authorized denominations as the Underwriter may request not
less than two full business days in advance of each Closing Date.
The Company agrees to notify the Underwriter at least
two business days before each Closing Date of the exact principal
balance evidenced by the Offered Certificates and to have such
Offered Certificates available for inspection, checking and
packaging in New York, New York, no later than 12:00 noon on the
business day prior to such Closing Date.
4. Offering by the Underwriter. It is understood that
the Underwriter proposes to offer the Offered Certificates of the
related Series for sale to the public as set forth in the related
Prospectus.
5. Agreements. The Company agrees with the
Underwriter that:
(a) The Company will cause the Prospectus as
supplemented by a Prospectus Supplement relating to the
Offered Certificates to be filed pursuant to Rule 424 under
the Act and will promptly advise the Underwriter when such
Prospectus as so supplemented has been so filed, and prior
to the termination of the Certificate Offering to which such
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Prospectus relates also will promptly advise the
Underwriter (i) when any amendment to the related
Registration Statement specifically relating to such
Offered Certificates shall have become effective or any
further supplement to such Prospectus has been filed, (ii)
of any request by the Commission for any amendment of such
Registration Statement or Prospectus or for any additional
information, (iii) of the issuance by the Commission of any
stop order suspending the effectiveness of such
Registration Statement or the institution or threatening of
any proceeding for that purpose and (iv) of the receipt by
the Company of any written notification with respect to the
suspension of the qualification of such Offered
Certificates for sale in any jurisdiction or the initiation
or threatening of any proceeding for such purpose. The
Company will not file any amendment of the related
Registration Statement or supplement to the related
Prospectus (other than any amendment or supplement
specifically relating to one or more Series of pass-through
certificates other than the Series that includes the
related Offered Certificates) unless the Company has
furnished the Underwriter with a copy for its review prior
to filing. The Company will use its best efforts to prevent
the issuance of any such stop order and, if issued, to
obtain as soon as possible the withdrawal thereof.
(b) The Company will cause any Computational
Materials and any Structural Term Sheets (each as defined
in Section 8 below) with respect to the Offered
Certificates of a Series that are delivered by the
Underwriter to the Company pursuant to Section 8 to be
filed with the Commission on a Current Report on Form 8-K
(a "Current Report") pursuant to Rule 13a-11 under the
Exchange Act on the business day immediately following the
later of (i) the day on which such Computational Materials
and Structural Term Sheets are delivered to counsel for the
Company by the Underwriter prior to 10:30 a.m. and (ii) the
date on which this Agreement is executed and delivered. The
Company will cause one Collateral Term Sheet (as defined in
Section 9 below) with respect to the Offered Certificates
of a Series that is delivered by the Underwriter to the
Company in accordance with the provisions of Section 9 to
be filed with the Commission on a Current Report pursuant
to Rule 13a-11 under the Exchange Act on the business day
immediately following the day on which such Collateral Term
Sheet is delivered to counsel for the Company by the
Underwriter prior to 10:30 a.m. In addition, if at any time
prior to the availability of the related Prospectus
Supplement the Underwriter has delivered to any prospective
investor a Collateral Term Sheet that reflects, in the
reasonable judgment of the Underwriter and the Company, a
material change in the characteristics of the Mortgage
Loans for the
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related Series from those on which a Collateral Term Sheet
with respect to the related Series previously filed with
the Commission was based, the Company will cause any such
Collateral Term Sheet that is delivered by the Underwriter
to the Company in accordance with the provisions of Section
9 to be filed with the Commission on a Current Report on
the business day immediately following the day on which
such Collateral Term Sheet is delivered to counsel for the
Company by the Underwriter prior to 10:30 a.m. In each
case, the Company will promptly advise the Underwriter when
such Current Report has been so filed. Each such Current
Report shall be incorporated by reference in the related
Prospectus and the related Registration Statement.
Notwithstanding the five preceding sentences, the Company
shall have no obligation to file any materials provided by
the Underwriter pursuant to Sections 8 and 9 which, in the
reasonable determination of the Company after making
reasonable efforts to consult with the Underwriter, are not
required to be filed pursuant to the Kidder Letters or the
PSA Letter (each as defined in Section 8 below), or which
contain erroneous information or contain any untrue
statement of a material fact or, when read in conjunction
with the Prospectus and Prospectus Supplement, omit to
state a material fact required to be stated therein or
necessary to make the statements therein not misleading; it
being understood, however, that the Company shall have no
obligation to review or pass upon the accuracy or adequacy
of, or to correct, any Computational Materials, Structural
Term Sheets or Collateral Term Sheets provided by the
Underwriter to the Company pursuant to Section 8 or Section
9 hereof.
(c) If, at any time when a prospectus relating to
the Offered Certificates of a Series is required to be
delivered under the Act, any event occurs as a result of
which the related Prospectus as then amended or
supplemented would include any untrue statement of a
material fact or omit to state any material fact necessary
to make the statements therein in light of the
circumstances under which they were made not misleading, or
if it shall be necessary at any time to amend or supplement
the related Prospectus to comply with the Act or the rules
thereunder, the Company promptly will prepare and file with
the Commission, subject to paragraph (a) of this Section 5,
an amendment or supplement which will correct such
statement or omission or an amendment which will effect
such compliance; provided, however, that the Company will
not be required to file any such amendment or supplement
with respect to any Computational Materials, Structural
Term Sheets or Collateral Term Sheets incorporated by
reference in the Prospectus other than any amendments or
supplements of such Computational Materials or Structural
Term Sheets that are
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furnished to the Company by the Underwriter pursuant to
Section 8(d) hereof or any amendments or supplements of
such Collateral Term Sheets that are furnished to the
Company by the Underwriter pursuant to Section 9(d) hereof
which the Company determines to file in accordance
therewith.
(d) The Company will furnish to the Underwriter
and counsel for the Underwriter, without charge, as many
signed copies of the related Registration Statement
(including exhibits thereto) and, so long as delivery of a
prospectus by the Underwriter or dealer may be required by
the Act, as many copies of the related Prospectus and any
supplements thereto (other than exhibits to the related
Current Report) as the Underwriter may reasonably request.
(e) The Company will furnish such information,
execute such instruments and take such actions as may be
reasonably requested by the Underwriter to qualify the
Offered Certificates of a Series for sale under the laws of
such jurisdictions as the Underwriter may designate, to
maintain such qualifications in effect so long as required
for the distribution of such Offered Certificates and to
determine the legality of such Offered Certificates for
purchase by institutional investors; provided, however,
that the Company shall not be required to qualify to do
business in any jurisdiction where it is not qualified on
the date of the related Terms Agreement or to take any
action which would subject it to general or unlimited
service of process in any jurisdiction in which it is not,
on the date of the related Terms Agreement, subject to such
service of process.
(f) So long as the Offered Certificates of a
Series are outstanding, the Company will furnish to the
Underwriter copies of the annual independent public
accountants' servicing report furnished to the Trustee
pursuant to Section 3.13 of the related Pooling and
Servicing Agreement.
(g) Whether or not the transactions contemplated
hereby and by the related Terms Agreement shall be
consummated, the Company shall be responsible for the
payment of any costs and expenses for which details are
submitted, in connection with the performance of its
obligations under this Agreement and the related Terms
Agreement, including, without limitation, (a) the cost and
expenses of printing or otherwise reproducing the related
Registration Statement or Prospectus, this Agreement, the
related Terms Agreement, the related Pooling and Servicing
Agreement and the Offered Certificates, and (b) the cost of
delivering the related Offered Certificates to the office
of the Underwriter, insured to the satisfaction of the
Underwriter (it being understood that, except as provided in
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<PAGE>
this paragraph (g) and in Section 7 hereof, the Underwriter
will pay all its own costs and expenses, including the fees
of Brown & Wood, counsel for the Underwriter, transfer
taxes on resale of any Offered Certificates by it,
advertising expenses connected with any offers that it may
make, the fees of KPMG Peat Marwick with respect to its
letters furnished pursuant to Section 6(i) of the Agreement
and any letter furnished pursuant to the last sentence of
Section 6(h) hereof and any other costs and expenses
specified in the related Terms Agreement as "Additional
Expenses").
6. Conditions to the Obligations of the Underwriter.
The obligations of the Underwriter to purchase the Offered
Certificates of any Series shall be subject to the accuracy in
all material respects of the representations and warranties on
the part of the Company contained in this Agreement, as
supplemented by the related Terms Agreement, as of the respective
dates thereof and the related Closing Date, to the accuracy of
the statements of the Company made in any applicable officers'
certificates pursuant to the provisions hereof, to the
performance by the Company of its obligations under this
Agreement and such Terms Agreement and to the following
additional conditions applicable to the related Certificate
Offering:
(a) No stop order suspending the effectiveness of
the related Registration Statement shall have been issued
and no proceedings for that purpose shall have been
instituted or threatened.
(b) Cleary, Gottlieb, Steen & Hamilton, counsel
for the Company, shall have furnished to the Underwriter an
opinion, dated the related Closing Date, to the effect
that:
(i) this Agreement and the related Terms
Agreement have been duly executed and delivered by the
Company under the law of the State of New York;
(ii) the related Pooling and Servicing
Agreement has been duly executed and delivered by the
Company under the law of the State of New York and is
a legal, valid and binding agreement of the Company
enforceable against the Company in accordance with its
terms;
(iii) the Offered Certificates, when duly
executed and countersigned by the Trustee in
accordance with the related Pooling and Servicing
Agreement, will be validly issued and outstanding and
entitled to the benefits of such Pooling and Servicing
Agreement;
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(iv) the related Pooling and Servicing
Agreement is not required to be qualified under the
Trust Indenture Act of 1939, as amended, and the trust
created thereunder is not required to be registered
under the Investment Company Act of 1940, as amended;
(v) such counsel confirms that (based
solely upon telephonic confirmation from a
representative of the Commission) the related
Registration Statement is effective under the Act and,
to the best of such counsel's knowledge, no stop order
with respect thereto has been issued, and no
proceeding for that purpose has been instituted or
threatened, by the Commission; such Registration
Statement (except the financial statements and
schedules and other financial and statistical data
included therein and the documents incorporated by
reference therein, as to which such counsel need
express no view), at the time it became effective and
the related Prospectus (except the financial
statements and schedules and the other financial and
statistical data included therein, the documents
incorporated by reference therein and the information
included in the second sentence of the antepenultimate
paragraph, the first sentence of the penultimate
paragraph, and the last paragraph of the cover page of
such Prospectus Supplement and in the second and
fourth sentences of the first paragraph under the
heading "Plan of Distribution" therein, as to which
such counsel need express no view), as of the date of
the Prospectus Supplement, appeared on their face to
be appropriately responsive in all material respects
to the requirements of the Act and the rules and
regulations thereunder; and no information has come to
the attention of such counsel that causes it to
believe that (A) such Registration Statement (except
the financial statements and schedules and the other
financial and statistical data included therein and
the documents incorporated by reference therein, as to
which such counsel need express no view) at the time
it became effective, contained an untrue statement of
a material fact or omitted to state a material fact
required to be stated therein or necessary to make the
statements therein not misleading or (B) such
Prospectus or any amendment or supplement thereto
(except the financial statements and schedules and
statistical data included therein, the documents
incorporated by reference therein and the information
included in the second sentence of the antepenultimate
paragraph, the first sentence of the penultimate
paragraph, and the last paragraph of the cover page of
such Prospectus Supplement and in the second and fourth
sentences of the first paragraph under the heading
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<PAGE>
"Plan of Distribution" therein, as to which such
counsel need express no view), as of the date of the
Prospectus Supplement or at the related Closing Date,
contained or contains an untrue statement of a
material fact or omitted or omits to state a material
fact necessary in order to make the statements
therein, in the light of the circumstances under which
they were made, not misleading;
(vi) the statements set forth under the
heading "Description of the Certificates" in the
related Prospectus, insofar as such statements purport
to summarize certain provisions of the related Pooling
and Servicing Agreement and the related Offered
Certificates, provide a fair summary of such
provisions;
(vii) the statements set forth in the
related Prospectus under the headings "Certain Legal
Aspects of the Mortgage Loans and Contracts -- The
Mortgage Loans", "Certain Federal Income Tax
Consequences" (insofar as they relate specifically to
the purchase, ownership and disposition of the related
Offered Certificates) and "ERISA Considerations"
(insofar as they relate specifically to the purchase,
ownership and disposition of such Offered
Certificates), to the extent that they constitute
matters of law or legal conclusions, provide a fair
summary of such law or conclusions;
(viii) assuming compliance with all
provisions of the related Pooling and Servicing
Agreement, for federal income tax purposes, (A) if any
election is made to treat the assets of the Trust Fund
as a REMIC: the related Trust Fund (and any specified
subgrouping therein) will qualify as a REMIC pursuant
to Section 860D of the Internal Revenue Code of 1986,
as amended (the "Code"), each Class of Certificates of
the related Series, other than the related Residual
Class or Classes, will constitute a class of "regular
interests" in the related REMIC within the meaning of
the Code, and each Class of such Certificates
specified in the related Prospectus as a Class of
Residual Certificates will constitute the "residual
interest" in the related REMIC within the meaning of
the Code; (B) if no such REMIC election is made: the
Trust Fund will be treated as a "grantor trust"; and
(ix) assuming that some or all of the
Offered Certificates of the related Series shall be
rated at the time of issuance in one of the two
highest rating categories by a nationally recognized
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<PAGE>
statistical rating organization, each Offered
Certificate so rated will be at the time of issuance,
a "mortgage related security" as such term is defined
in Section 3(a)(41) of the Exchange Act.
Such opinion may express its reliance as to factual matters
on the representations and warranties made by, and on
certificates or other documents furnished by, officers of
the parties to this Agreement, the related Terms Agreement
or the related Pooling and Servicing Agreement. Such
opinion may assume the due authorization, execution and
delivery of the instruments and documents referred to
therein by the parties thereto other than the Company. Such
opinion may be qualified, insofar as it concerns the
enforceability of the documents referred to therein, to the
extent that such enforceability may be limited by
bankruptcy, insolvency, reorganization or other similar
laws affecting the enforcement of creditors' rights in
general and by general equity principles (regardless of
whether such enforcement is considered in a proceeding in
equity or at law). Such opinion may be further qualified as
expressing no opinion as to (x) the statements in the
related Prospectus under the heading "Certain Legal Aspects
of the Mortgage Loans and Contracts -- The Mortgage Loans"
except insofar as such statements relate to the laws of the
State of New York and the laws of the United States, and
(y) the statements in such Prospectus under the headings
"ERISA Considerations" and "Certain Federal Income Tax
Consequences" except insofar as such statements relate to
the laws of the United States. In addition, such opinion
may be qualified as an opinion only on the law of the State
of New York and the federal law of the United States of
America.
(c) The General Counsel for the Company shall
have furnished to the Underwriter an opinion, dated the
related Closing Date, to the effect that:
(i) The Company has been duly
incorporated and is validly existing as a corporation
in good standing under the laws of the State of New
Jersey, with corporate power to own its properties, to
conduct its business as described in the related
Prospectus and to enter into and perform its
obligations under this Agreement, the related Terms
Agreement, the related Pooling and Servicing Agreement
and the Certificates of the related Series;
(ii) The Company has full power and
authority to sell and service the related Mortgage
Loans as contemplated herein and in the related
Pooling and Servicing Agreement;
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<PAGE>
(iii) No consent, approval, authorization
or order of any court or governmental agency or body
is required for the consummation by the Company of the
transactions contemplated herein or in the related
Pooling and Servicing Agreement, except such as may be
required under the blue sky laws of any jurisdiction
and such other approvals as have been obtained;
(iv) Neither the issuance of the
Certificates of the related Series nor delivery of the
related Offered Certificates, nor the consummation of
any other of the transactions contemplated in this
Agreement, the related Terms Agreement or the related
Pooling and Servicing Agreement, nor the fulfillment
of the terms of the related Certificates, the related
Pooling and Servicing Agreement, this Agreement or the
related Terms Agreement will conflict with or violate
any term or provision of the articles of incorporation
or by-laws of the Company or any statute, order or
regulation applicable to the Company of any court,
regulatory body, administrative agency or governmental
body having jurisdiction over the Company and will not
conflict with, result in a breach or violation or the
acceleration of or constitute a default under the
terms of any indenture or other agreement or
instrument known to such counsel to which the Company
is a party or by which it is bound; and
(v) There are no actions, proceedings or
investigations pending or, to the best knowledge of
such counsel, threatened before any court,
administrative agency or other tribunal (i) asserting
the invalidity of this Agreement, the related Terms
Agreement, the related Pooling and Servicing Agreement
or the related Certificates, (ii) seeking to prevent
the issuance of the Certificates of the related Series
or the consummation by the Company of any of the
transactions contemplated by this Agreement, such
Terms Agreement or such Pooling and Servicing
Agreement, or (iii) which might materially and
adversely affect the performance by the Company of its
obligations under, or the validity or enforceability
of, this Agreement, such Terms Agreement, such Pooling
and Servicing Agreement or the related Certificates.
In rendering her opinion such counsel may rely as to
matters of fact, to the extent deemed proper and as stated
therein, on certificates of responsible officers of the
Company or public officials. In addition, such opinion may
be qualified as an opinion only on the laws of the State of
New Jersey.
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<PAGE>
(d) The Underwriter shall have received from
Brown & Wood, counsel for the Underwriter, such opinion or
opinions, dated the related Closing Date, with respect to
the issuance and sale of the Certificates of the related
Series, the related Registration Statement, the related
Prospectus and such other related matters as the
Underwriter may reasonably require, and the Company shall
have furnished to such counsel such documents as the
Underwriter may reasonably request for the purpose of
enabling them to pass upon such matters.
(e) The Company shall have furnished to the
Underwriter a certificate of the Company, signed by the
President or any Vice President and the Senior Vice
President-Finance or the principal financial or accounting
officer of the Company, dated the related Closing Date, to
the effect that the signers of such certificate have
carefully examined the related Registration Statement
(excluding any Current Reports and any other documents
incorporated by reference therein), the related Prospectus,
the Detailed Description referred to in such Prospectus
(excluding any related Current Report), this Agreement and
the related Terms Agreement and that:
(i) the representations and warranties of
the Company in this Agreement are true and correct in
all material respects on and as of the related Closing
Date with the same effect as if made on such Closing
Date, and the Company has complied with all the
agreements and satisfied all the conditions on its
part to be performed or satisfied at or prior to such
Closing Date;
(ii) no stop order suspending the
effectiveness of such Registration Statement has been
issued and no proceedings for that purpose have been
instituted or, to their knowledge, threatened; and
(iii) nothing has come to their attention
that would lead them to believe that such Registration
Statement (excluding any Current Report) contains any
untrue statement of a material fact or omits to state
any material fact required to be stated therein or
necessary to make the statements therein not
misleading, that the related Prospectus (excluding any
related Current Report) contains any untrue statement
of a material fact or omits to state a material fact
required to be stated therein or necessary to make the
statements therein, in the light of the circumstances
under which they were made, not misleading, or that
the Detailed Description referred to in such Prospectus
includes any untrue statement of a material fact or
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<PAGE>
omits to state any information which the Prospectus
states will be included in such Detailed Description.
(f) Peabody & Arnold, counsel for the Trustee,
shall have furnished to the Underwriter an opinion, dated
the related Closing Date, to the effect that:
(i) the Trustee has been duly
incorporated and is validly existing as a corporation
in good standing under the laws of the Commonwealth of
Massachusetts with corporate power to own its
properties and conduct its business as presently
conducted by it, to conduct business as a trustee and
to enter into and perform its obligations under the
related Pooling and Servicing Agreement;
(ii) the related Pooling and Servicing
Agreement has been duly authorized, executed and
delivered by the Trustee and constitutes the legal,
valid and binding agreement of the Trustee enforceable
against the Trustee in accordance with its terms,
subject to bankruptcy, insolvency, fraudulent
conveyance, reorganization or other similar laws
affecting the enforcement of creditors' rights
generally and to judicial discretion, and general
principles of equity (regardless of whether
enforcement is sought in a proceeding in equity or at
law);
(iii) the Trustee has duly accepted its
appointment as trustee under the related Pooling and
Servicing Agreement;
(iv) no consent, approval, authorization
or order of any Massachusetts or federal court or
government agency or body is required on the part of
the Trustee for the consummation of the transactions
contemplated in the related Pooling and Servicing
Agreement, except such as may be required under any
federal or state securities law; and
(v) the performance on the part of the
Trustee of any of the transactions contemplated in the
related Pooling and Servicing Agreement does not
conflict with or result in a breach or violation of
any term or provision of, or constitute a default
under, the Articles of Organization, as amended, or
By-Laws of the Trustee, or any Massachusetts or
federal statute or regulation applicable to the
Trustee, or to such counsel's knowledge, any indenture
or other agreement or instrument to which the Trustee
is a party or by which it is bound, or, to such
counsel's knowledge, any order of any state or federal
court, regulatory body,
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<PAGE>
administrative agency or governmental body having
jurisdiction over the Trustee.
In addition, such counsel shall furnish to the Underwriter
such opinions as to the treatment of the Trust Fund for
purposes of Massachusetts tax law as are reasonably
satisfactory to the Underwriter.
(g) KPMG Peat Marwick shall have furnished to the
Underwriter a letter, dated as of the date of the related
Terms Agreement, in form and substance satisfactory to the
Underwriter, stating in effect that they have performed
certain specified procedures as a result of which they have
determined that such information as the Underwriter may
reasonably request of an accounting, financial or
statistical nature (which is limited to accounting,
financial or statistical information derived from the
general accounting records of the Company) set forth in the
related Prospectus Supplement under the caption
"Delinquency and Foreclosure Experience of the Company"
agrees with the accounting records of the Company,
excluding any questions of legal interpretation.
(h) KPMG Peat Marwick shall have furnished to the
Underwriter a letter, dated as of the related Closing Date,
in form and substance satisfactory to the Underwriter,
stating in effect that they have performed certain
specified procedures as a result of which they have
determined that such information as the Underwriter may
reasonably request of an accounting, financial or
statistical nature (which is limited to accounting,
financial or statistical information derived from the
general accounting records of the Company and which is
obtained from an analysis of a sample of the Mortgage Loans
included in the related pool) set forth in the related
Prospectus Supplement under the caption "Description of the
Mortgage Pool and the Mortgaged Properties" or "Description
of the Mortgage Pools and the Mortgaged Properties", as the
case may be, and in the Detailed Description relating to
such Prospectus Supplement is mutually consistent and
agrees with the accounting records of the Company and,
where applicable, the related Mortgage Loan files of the
Company, excluding any questions of legal interpretation.
In addition, if applicable, such accountants shall have
furnished to the Underwriter a letter, dated as of the
related Closing Date, which shall include a statement or
statements to the effect that based upon the assumptions
and methodology agreed to by the Company (and which is
consistent with the manner in which any final PAC Balances,
TAC Balances, Scheduled Balances, Maximum and Minimum
Scheduled Balances or any other scheduled balances are to
be calculated as set forth in the related Prospectus), all
of which shall be described by
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<PAGE>
reference in such letter, such accountants shall have
verified the mathematical accuracy of any final PAC
Balances Table, TAC Balances Table, Scheduled Balances
Table, Maximum or Minimum Scheduled Balances Table or other
scheduled balances table attached as an exhibit to the
related Pooling and Servicing Agreement.
(i) KPMG Peat Marwick shall have furnished to the
Underwriter and the Company a letter or letters, dated as
of the date of the related Terms Agreement, in form and
substance satisfactory to the Underwriter and the Company,
including, without limitation, statements, if applicable,
to the effect that:
(i) based upon the assumptions and
methodology set forth in the related Prospectus, all
of which shall be described by reference in such
letter, they recomputed the percentages of initial
principal balance outstanding as of each of the
Distribution Dates (as defined in such Prospectus)
indicated and the weighted average lives of each Class
of Offered Certificates at each of the indicated
percentages of the applicable Prepayment Assumption,
and they compared the recomputed percentages and
weighted average lives to the corresponding
percentages and weighted average lives set forth in
the related tables and found them to be in agreement;
(ii) based upon the assumptions and
methodology set forth in such Prospectus, all of which
shall be described by reference in such letter, they
have verified the mathematical accuracy of any
Scheduled Final Distribution Dates for the Offered
Certificates, PAC Balances, TAC Balances, Scheduled
Balances, Maximum and Minimum Scheduled Balances or
any other scheduled balances set forth in such
Prospectus for each indicated Distribution Date, and
have verified the mathematical accuracy of any initial
Effective Ranges of any PAC Certificates, Scheduled
Certificates or other scheduled Certificates set forth
in such Prospectus; and
(iii) based upon the assumptions and
methodology set forth in such Prospectus, all of which
shall be described by reference in such letter, they
have verified the mathematical accuracy of the pre-tax
yields to maturity and, if applicable, aggregate cash
flows of any Class of Certificates for which such
pre-tax yields and, if applicable, aggregate cash
flows are set forth in such Prospectus at the
indicated percentages of the Prepayment Assumption
and, if
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<PAGE>
applicable, at the indicated values of COFI, LIBOR or
any other index, as applicable.
(j) The Offered Certificates of the related
Series shall have received the ratings specified in the
related Terms Agreement (the "Required Ratings").
(k) Prior to the related Closing Date, the
Company shall have furnished to the Underwriter such
further information, certificates and documents as the
Underwriter may reasonably request.
(l) If any Certificates of the related Series are
to be sold to any other underwriter and/or offered in
reliance upon an exemption from the registration
requirements of the Act, the sale at or prior to the
related Closing Date of such Certificates to the purchaser
thereof shall have occurred.
(m) Subsequent to the date of the related Terms
Agreement, there shall not have been any change, or any
development involving a prospective change, in or affecting
the business or properties of the Company which the
Underwriter concludes in its judgment, after consultation
with the Company, materially impairs the investment quality
of the Offered Certificates of the related Series so as to
make it impractical or inadvisable to proceed with the
public offering or the delivery of such Offered
Certificates as contemplated by the related Prospectus.
If any of the conditions specified in this Section 6
shall not have been fulfilled in all material respects with
respect to the particular Offered Certificates of a Series when
and as provided in this Agreement and the related Terms
Agreement, or if any of the opinions and certificates mentioned
above or elsewhere in this Agreement and the related Terms
Agreement shall not be in all material respects reasonably
satisfactory in form and substance to the Underwriter and its
counsel, this Agreement (with respect to the related Offered
Certificates) and the related Terms Agreement and all obligations
of the Underwriter hereunder (with respect to the related Offered
Certificates) and thereunder may be canceled at, or at any time
prior to, the related Closing Date by the Underwriter. Notice of
such cancellation shall be given to the Company in writing, or by
telephone or telegraph confirmed in writing.
7. Indemnification and Contribution. (a) The Company
agrees to indemnify and hold harmless the Underwriter and each
person who controls the Underwriter within the meaning of the Act
or the Exchange Act against any and all losses, claims, damages
or liabilities, joint or several, to which they or any of them
may become subject under the Act, the Exchange Act, or other
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Federal or state statutory law or regulation, at common law or
otherwise, insofar as such losses, claims, damages or liabilities
(or actions in respect thereof) arise out of or are based upon
any untrue statement or alleged untrue statement of a material
fact contained in the Registration Statement relating to the
Offered Certificates of the applicable Series as it became
effective or in any amendment or supplement thereof, or in such
Registration Statement or the related Prospectus, or in any
amendment thereof, or in the Detailed Description referred to in
such Prospectus or arise out of or are based upon the omission or
alleged omission (in the case of any Computational Materials and
ABS Term Sheets in respect of which the Company agrees to
indemnify the Underwriter, as set forth below, when such are read
in conjunction with the related Prospectus and Prospectus
Supplement) to state therein a material fact required to be
stated therein or necessary to make the statements therein not
misleading, and agrees to reimburse each such indemnified party
for any legal or other expenses reasonably incurred by them in
connection with investigating or defending any such loss, claim,
damage, liability or action; provided, however, that (i) the
Company will not be liable in any such case to the extent that
any such loss, claim, damage or liability arises out of or is
based upon any such untrue statement or alleged untrue statement
or omission or alleged omission made therein (A) in reliance upon
and in conformity with written information furnished to the
Company as herein stated by or on behalf of the Underwriter
specifically for use in connection with the preparation thereof
or (B) in any Current Report or any amendment or supplement
thereof, except to the extent that any untrue statement or
alleged untrue statement therein or omission therefrom results
(or is alleged to have resulted) directly from an error (a
"Mortgage Pool Error") in the information concerning the
characteristics of the Mortgage Loans furnished by the Company to
the Underwriter in writing or by electronic transmission that was
used in the preparation of either (x) any Computational Materials
or ABS Term Sheets (as defined in Section 9 below) (or amendments
or supplements thereof) included in such Current Report (or
amendment or supplement thereof) or (y) any written or electronic
materials furnished to prospective investors on which the
Computational Materials (or amendments or supplements) were
based, (ii) such indemnity with respect to any Corrected
Statement (as defined below) in such Prospectus (or supplement
thereto) shall not inure to the benefit of the Underwriter (or
any person controlling the Underwriter) from whom the person
asserting any loss, claim, damage or liability purchased the
Certificates of the related Series that are the subject thereof
if such person did not receive a copy of a supplement to such
Prospectus at or prior to the confirmation of the sale of such
Certificates and the untrue statement or omission of a material
fact contained in such Prospectus (or supplement thereto) was
corrected (a "Corrected Statement") in such other supplement and
such supplement was furnished by the Company to the Underwriter
- 19 -
<PAGE>
prior to the delivery of such confirmation, and (iii) such
indemnity with respect to any Mortgage Pool Error shall not inure
to the benefit of the Underwriter (or any person controlling the
Underwriter) from whom the person asserting any loss, claim,
damage or liability received any Computational Materials or ABS
Term Sheets (or any written or electronic materials on which the
Computational Materials are based) that were prepared on the
basis of such Mortgage Pool Error, if, prior to the time of
confirmation of the sale of the applicable Certificates to such
person, the Company notified the Underwriter in writing of the
Mortgage Pool Error or provided in written or electronic form
information superseding or correcting such Mortgage Pool Error
(in any such case, a "Corrected Mortgage Pool Error"), and the
Underwriter failed to notify such person thereof or to deliver to
such person corrected Computational Materials (or underlying
written or electronic materials) or ABS Term Sheets. This
indemnity agreement will be in addition to any liability which
the Company may otherwise have.
(b) The Underwriter agrees to indemnify and hold
harmless the Company, each of its directors, each of its officers
who signs the Registration Statement relating to the Offered
Certificates of the applicable Series, and each person who
controls the Company within the meaning of the Act or the
Exchange Act to the same extent as the foregoing indemnities from
the Company to the Underwriter, but only with reference to (A)
written information furnished to the Company by or on behalf of
the Underwriter specifically for use in the preparation of the
documents referred to in the foregoing indemnity with respect to
the related Series, or (B) any Computational Materials or ABS
Term Sheets (or amendments or supplements thereof) furnished to
the Company by the Underwriter pursuant to Section 8 and
incorporated by reference in such Registration Statement or the
related Prospectus or any amendment or supplement thereof (except
that no such indemnity shall be available for any losses, claims,
damages or liabilities, or actions in respect thereof, resulting
from any Mortgage Pool Error, other than a Corrected Mortgage
Pool Error). This indemnity agreement will be in addition to any
liability which the Underwriter may otherwise have. The Company
acknowledges that the statements set forth in the second sentence
of the ante-penultimate paragraph, the first sentence of the
penultimate paragraph, and in the last paragraph appearing on the
cover page of the related Prospectus Supplement as such
statements relate to such Offered Certificates and the second
sentence of the first paragraph under the heading "Plan of
Distribution" in such Prospectus Supplement as such statements
relate to such Offered Certificates constitute the only
information furnished in writing by or on behalf of the
Underwriter for inclusion in the related Prospectus (other than
any Computational Materials or ABS Term Sheets (or amendments or
supplements thereof) furnished to the Company by the
- 20 -
<PAGE>
Underwriter), and the Underwriter confirms that such statements
are correct.
(c) Promptly after receipt by an indemnified party
under Section 7 of notice of the commencement of any action, such
indemnified party will, if a claim in respect thereof is to be
made against the indemnifying party under this Section 7, notify
the indemnifying party in writing of the commencement thereof;
but the omission so to notify the indemnifying party will not
relieve it from any liability which it may have to any
indemnified party otherwise than under this Section 7. In case
any such action is brought against any indemnified party, and it
notifies the indemnifying party of the commencement thereof, the
indemnifying party will be entitled to participate therein, and
to the extent that it may elect by written notice delivered to
the indemnified party promptly after receiving the aforesaid
notice from such indemnified party, to assume the defense
thereof, with counsel satisfactory to such indemnified party;
provided, however, that if the defendants in any such action
include both the indemnified party and the indemnifying party and
the indemnified party shall have reasonably concluded that there
may be legal defenses available to it and/or other indemnified
parties which are different from or additional to those available
to the indemnifying party, the indemnified party or parties shall
have the right to select separate counsel to assert such legal
defenses and to otherwise participate in the defense of such
action on behalf of such indemnified party or parties. Upon
receipt of notice from the indemnifying party to such indemnified
party of its election so to assume the defense of such action and
approval by the indemnified party of counsel, the indemnifying
party will not be liable to such indemnified party under this
Section 7 for any legal or other expenses subsequently incurred
by such indemnified party in connection with the defense thereof
unless (i) the indemnified party shall have employed separate
counsel in connection with the assertion of legal defenses in
accordance with the proviso to the next preceding sentence (it
being understood, however, that the indemnifying party shall not
be liable for the expenses of more than one separate counsel
approved by the indemnified party in the case of subparagraph (a)
or (b), representing the indemnified parties under subparagraph
(a) or (b), who are parties to such action), (ii) the
indemnifying party shall not have employed counsel satisfactory
to the indemnified party to represent the indemnified party
within a reasonable time after notice of commencement of the
action or (iii) the indemnifying party has authorized the
employment of counsel for the indemnified party at the expense of
the indemnifying party; and except that, if clause (i) or (iii)
is applicable, such liability shall be only in respect of the
counsel referred to in such clause (i) or (iii).
(d) If the indemnification provided for in paragraph
(a) or (b) of this Section 7 is due in accordance with its terms
- 21 -
<PAGE>
but is for any reason held by a court to be unavailable from the
Company or the Underwriter, on grounds of policy or otherwise, or
if the indemnified party failed to give notice under paragraph
(c) of this Section 7 in respect of a claim otherwise subject to
indemnification in accordance with paragraph (a) or (b) of this
Section 7, the Company and the Underwriter shall contribute to
the aggregate losses, claims, damages and liabilities (including
legal and other expenses reasonably incurred in connection with
investigating or defending same) to which the Company and the
Underwriter may be subject, as follows:
(i) in the case of any losses, claims, damages and
liabilities (or actions in respect thereof) which do not
arise out of or are not based upon any untrue statement or
omission of a material fact in any Computational Materials
or ABS Term Sheets (or any amendments or supplements
thereof), in such proportion so that the Underwriter is
responsible for that portion represented by the difference
between the proceeds to the Company in respect of the
Offered Certificates appearing on the cover page of the
Prospectus Supplement for the related Series and the total
proceeds received by the Underwriter from the sale of such
Offered Certificates (the "Underwriting Discount"), and the
Company is responsible for the balance; provided, however,
that in no case shall the Underwriter be responsible under
this subparagraph (i) for any amount in excess of such
Underwriting Discount applicable to the Offered
Certificates purchased by the Underwriter pursuant to this
Agreement and the related Terms Agreement; and
(ii) in the case of any losses, claims, damages and
liabilities (or actions in respect thereof) which arise out
of or are based upon any untrue statement or omission of a
material fact in any Computational Materials or ABS Term
Sheets (or any amendments or supplements thereof) or in any
written or electronic materials on which the Computational
Materials are based, in such proportion as is appropriate
to reflect the relative fault of the Company on the one
hand and the Underwriter on the other in connection with
the statements or omissions which resulted in such losses,
claims, damages or liabilities (or actions in respect
thereof) as well as any other relevant equitable
considerations. The relative fault shall be determined by
reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission
or alleged omission to state a material fact in such
Computational Materials or ABS Term Sheets (or any
amendments or supplements thereof or such written or
electronic materials) results from information prepared by
the Company on the one hand or the Underwriter on the other
and the parties' relative intent, knowledge, access to
- 22 -
<PAGE>
information and opportunity to correct or prevent such
statement or omission.
Notwithstanding anything to the contrary in this Section 7(d), no
person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Act) shall be entitled to contribution
from any person who was not guilty of such fraudulent
misrepresentation. For purposes of this Section 7, each person
who controls the Underwriter within the meaning of either the Act
or the Exchange Act shall have the same rights to contribution as
the Underwriter, and each person who controls the Company within
the meaning of either the Act or the Exchange Act, each officer
of the Company who shall have signed the Registration Statement
and each director of the Company shall have the same rights to
contribution as the Company, subject in each case to the
immediately preceding sentence of this paragraph (d).
8. Computational Materials and Structural Term Sheets.
(a) Not later than 10:30 a.m., New York time, on the business day
before the date on which the Current Report relating to the
Offered Certificates of a Series is required to be filed by the
Company with the Commission pursuant to Section 5(b) hereof, the
Underwriter shall deliver to the Company five complete copies of
all materials provided by the Underwriter to prospective
investors in such Offered Certificates which constitute (i)
"Computational Materials" within the meaning of the no-action
letter dated May 20, 1994 issued by the Division of Corporation
Finance of the Commission to Kidder, Peabody Acceptance
Corporation I, Kidder, Peabody & Co. Incorporated, and Kidder
Structured Asset Corporation and the no-action letter dated May
27, 1994 issued by the Division of Corporation Finance of the
Commission to the Public Securities Association (together, the
"Kidder Letters"), the filing of which material is a condition of
the relief granted in such letter (such materials being the
"Computational Materials") and (ii) "Structural Term Sheets"
within the meaning of the no-action letter dated February 17,
1995 issued by the Division of Corporation Finance of the
Commission to the Public Securities Association (the "PSA
Letter"), the filing of which material is a condition of the
relief granted in such letter (such materials being the
"Structural Term Sheets"). Each delivery of Computational
Materials and Structural Term Sheets to the Company pursuant to
this paragraph (a) shall be effected by delivering four copies of
such materials to counsel for the Company on behalf of the
Company at the address specified in Section 3 hereof and one copy
of such materials to the Company.
(b) The Underwriter represents and warrants to and
agrees with the Company, as of the date of the related Terms
Agreement and as of the Closing Date, that:
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<PAGE>
(i) the Computational Materials furnished to the
Company pursuant to Section 8(a) constitute (either in
original, aggregated or consolidated form) all of the
materials furnished to prospective investors by the
Underwriter prior to the time of delivery thereof to
the Company that are required to be filed with the
Commission with respect to the related Offered
Certificates in accordance with the Kidder Letters,
and such Computational Materials comply with the
requirements of the Kidder Letters;
(ii) the Structural Term Sheets furnished to the
Company pursuant to Section 8(a) constitute all of the
materials furnished to prospective investors by the
Underwriter prior to the time of delivery thereof to
the Company that are required to be filed with the
Commission as "Structural Term Sheets" with respect to
the related Offered Certificates in accordance with
the PSA Letter, and such Structural Term Sheets comply
with the requirements of the PSA Letter;
(iii) on the date any such Computational Materials
or Structural Term Sheets with respect to such Offered
Certificates (or any written or electronic materials
furnished to prospective investors on which the
Computational Materials are based) were last furnished
to each prospective investor and on the date of
delivery thereof to the Company pursuant to Section
8(a) and on the related Closing Date, such
Computational Materials (or such other materials) or
Structural Term Sheets did not and will not include
any untrue statement of a material fact or, when read
in conjunction with the related Prospectus and
Prospectus Supplement, omit to state a material fact
required to be stated therein or necessary to make the
statements therein not misleading;
(iv) at the time any Computational Materials or
Structural Term Sheets (or any written or electronic
materials furnished to prospective investors on which
the Computational Materials or Structural Term Sheets
are based) with respect to such Offered Certificates
were furnished to a prospective investor and on the
date of the related Terms Agreement, the Underwriter
possessed, and on the date of delivery of such
materials to the Company pursuant to this Section 8
and on the related Closing Date, the Underwriter will
possess, the capability, knowledge, expertise,
resources and systems of internal control necessary to
ensure that such Computational Materials or Structural
Term Sheets conform to the representations and
warranties of the Underwriter contained in
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<PAGE>
subparagraphs (i), (ii) and (iii) above of this
paragraph (b); and
(v) all Computational Materials or Structural Term
Sheets (or underlying materials distributed to
prospective investors on which the Computational
Materials or Structural Term Sheets were based)
contained and will contain a legend, prominently
displayed on the first page thereof, to the effect
that the Company has not prepared, reviewed or
participated in the preparation of such Computational
Materials or Structural Term Sheets, is not
responsible for the accuracy thereof and has not
authorized the dissemination thereof.
Notwithstanding the foregoing, the Underwriter makes no
representation or warranty as to whether any Computational
Materials or Structural Term Sheets (or any written or electronic
materials on which the Computational Materials are based)
included or will include any untrue statement resulting directly
from any Mortgage Pool Error (except any Corrected Mortgage Pool
Error, with respect to materials prepared after the receipt by
the Underwriter from the Company of notice of such Corrected
Mortgage Pool Error or materials superseding or correcting such
Corrected Mortgage Pool Error).
(c) The Underwriter acknowledges and agrees that the
Company has not authorized and will not authorize the
distribution of any Computational Materials (or any written or
electronic materials on which the Computational Materials are
based) or Structural Term Sheets to any prospective investor, and
agrees that any Computational Materials or Structural Term Sheets
with respect to any Series of Certificates furnished to
prospective investors from and after the date hereof shall
include a disclaimer in the form set forth in paragraph (b)(v)
above. The Underwriter agrees that it will not represent to
prospective investors that any Computational Materials or
Structural Term Sheets were prepared or disseminated on behalf of
the Company.
(d) If, at any time when a prospectus relating to the
Offered Certificates of a Series is required to be delivered
under the Act, it shall be necessary to amend or supplement the
related Prospectus as a result of an untrue statement of a
material fact contained in any Computational Materials or
Structural Term Sheets provided by the Underwriter pursuant to
this Section 8 or the omission to state therein a material fact
required, when considered in conjunction with the related
Prospectus and Prospectus Supplement, to be stated therein or
necessary to make the statements therein, when read in
conjunction with the related Prospectus and Prospectus
Supplement, not misleading, or if it shall be necessary to amend
- 25 -
<PAGE>
or supplement any Current Report relating to any Computational
Materials or Structural Term Sheets to comply with the Act or the
rules thereunder, the Underwriter promptly will prepare and
furnish to the Company for filing with the Commission an
amendment or supplement which will correct such statement or
omission or an amendment which will effect such compliance. The
Underwriter represents and warrants to the Company, as of the
date of delivery of such amendment or supplement to the Company,
that such amendment or supplement will not include any untrue
statement of a material fact or, when read in conjunction with
the related Prospectus and Prospectus Supplement, omit to state a
material fact required to be stated therein or necessary to make
the statements therein not misleading. The Company shall have no
obligation to file such amendment or supplement if the Company
determines that (i) such amendment or supplement contains any
untrue statement of a material fact or, when read in conjunction
with the related Prospectus and Prospectus Supplement, omits to
state a material fact required to be stated therein or necessary
to make the statements therein not misleading; it being
understood, however, that the Company shall have no obligation to
review or pass upon the accuracy or adequacy of, or to correct,
any such amendment or supplement provided by the Underwriter to
the Company pursuant to this paragraph (e) or (ii) such filing is
not required under the Act.
9. Collateral Term Sheets. (a) Prior to the delivery
of any "Collateral Term Sheet" within the meaning of the PSA
Letter, the filing of which material is a condition of the relief
granted in such letter (such material being the "Collateral Term
Sheets"), to a prospective investor in any Offered Certificates,
the Underwriter shall, in order to facilitate the timely filing
of such material with the Commission, notify the Company and its
counsel by telephone of its intention to deliver such materials
and the approximate date on which the first such delivery of such
materials is expected to occur. Not later than 10:30 a.m., New
York time, on the business day immediately following the date on
which any Collateral Term Sheet was first delivered to a
prospective investor in such Offered Certificates, the
Underwriter shall deliver to the Company five complete copies of
all materials provided by the Underwriter to prospective
investors in such Offered Certificates which constitute
"Collateral Term Sheets." Each delivery of a Collateral Term
Sheet to the Company pursuant to this paragraph (a) shall be
effected by delivering four copies of such materials to counsel
for the Company on behalf of the Company at the address specified
in Section 3 hereof and one copy of such materials to the
Company. (Collateral Term Sheets and Structural Term Sheets are,
together, referred to herein as "ABS Term Sheets.") At the time
of each such delivery, the Underwriter shall indicate in writing
that the materials being delivered constitute Collateral Term
Sheets, and, if there has been any prior such delivery with
respect to the related Series, shall
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<PAGE>
indicate whether such materials differ in any material respect
from any Collateral Term Sheets previously delivered to the
Company with respect to such Series pursuant to this Section 9(a)
as a result of the occurrence of a material change in the
characteristics of the related Mortgage Loans.
(b) The Underwriter represents and warrants to and
agrees with the Company as of the date of the related Terms
Agreement and as of the Closing Date, that:
(i) The Collateral Term Sheets furnished to
the Company pursuant to Section 9(a) constitute all of the
materials furnished to prospective investors by the
Underwriter prior to time of delivery thereof to the
Company that are required to be filed with the Commission
as "Collateral Term Sheets" with respect to the related
Offered Certificates in accordance with the PSA Letter, and
such Collateral Term Sheets comply with the requirements of
the PSA Letter;
(ii) On the date any such Collateral Term
Sheets with respect to such Offered Certificates were last
furnished to each prospective investor and on the date of
delivery thereof to the Company pursuant to Section 9(a)
and on the related Closing Date, such Collateral Term
Sheets did not and will not include any untrue statement of
a material fact or, when read in conjunction with the
Prospectus and Prospectus Supplement, omit to state a
material fact required to be stated therein or necessary to
make the statements therein not misleading; and
(iii) the Underwriter has not represented to
any prospective investor that any Collateral Term Sheets
with respect to any Series were prepared or disseminated on
behalf of the Company, and, except as otherwise disclosed
by the Underwriter to the Company in writing prior to the
date hereof, all Collateral Term Sheets previously
furnished to prospective investors included a disclaimer to
the effect set forth in Section 8(c).
Notwithstanding the foregoing, the Underwriter makes no
representation or warranty as to whether any Collateral Term
Sheet included or will include any untrue statement or material
omission resulting directly from any Mortgage Pool Error (except
any Corrected Mortgage Pool Error, with respect to materials
prepared after the receipt by the Underwriter from the Company of
notice of such Corrected Mortgage Pool Error or materials
superseding or correcting such Corrected Mortgage Pool Error).
(c) The Underwriter acknowledges and agrees that any
Collateral Term Sheets with respect to any Series of Certificates
furnished to prospective investors from and after the date hereof
- 27 -
<PAGE>
shall include a disclaimer in form satisfactory to the Company to
the effect set forth in Section 8(c) hereof, and to the effect
that the information contained in such materials supersedes the
information contained in any prior Collateral Term Sheet with
respect to such Series of Offered Certificates and will be
superseded by the description of the related Mortgage Loans in
the related Prospectus Supplement and in the Detailed Description
relating to such Prospectus Supplement to be filed under cover of
Form 8-K. The Underwriter agrees that it will not represent to
prospective investors that any Collateral Term Sheets were
prepared or disseminated on behalf of the Company.
(d) If, at any time when a prospectus relating to the
Offered Certificates of a Series is required to be delivered
under the Act, it shall be necessary to amend or supplement the
related Prospectus as a result of an untrue statement of a
material fact contained in any Collateral Term Sheets provided by
the Underwriter pursuant to this Section 9 or the omission to
state therein a material fact required, when considered in
conjunction with the related Prospectus and Prospectus
Supplement, to be stated therein or necessary to make the
statements therein, when read in conjunction with the related
Prospectus and Prospectus Supplement, not misleading, or if it
shall be necessary to amend or supplement any Current Report
relating to any Collateral Term Sheets to comply with the Act or
the rules thereunder, the Underwriter promptly will prepare and
furnish to the Company for filing with the Commission an
amendment or supplement which will correct such statement or
omission or an amendment which will effect such compliance. The
Underwriter represents and warrants to the Company, as of the
date of delivery of such amendment or supplement to the Company,
that such amendment or supplement will not include any untrue
statement of a material fact or, when read in conjunction with
the related Prospectus and Prospectus Supplement, omit to state a
material fact required to be stated therein or necessary to make
the statements therein not misleading. The Company shall have no
obligation to file such amendment or supplement if the Company
determines that (i) such amendment or supplement contains any
untrue statement of a material fact or, when read in conjunction
with the related Prospectus and Prospectus Supplement, omits to
state a material fact required to be stated therein or necessary
to make the statements therein not misleading; it being
understood, however, that the Company shall have no obligation to
review or pass upon the accuracy or adequacy of, or to correct,
any such amendment or supplement provided by the Underwriter to
the Company pursuant to this paragraph (d) or (ii) such filing is
not required under the Act.
10. Termination. This Agreement (with respect to a
particular Certificate Offering) and the related Terms Agreement
shall be subject to termination in the absolute discretion of the
Underwriter, by notice given to the Company prior to delivery of
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<PAGE>
and payment for the related Offered Certificates, if prior to the
related Closing Date (i) trading in securities generally on the
New York Stock Exchange shall have been suspended or materially
limited, (ii) a general moratorium on commercial banking
activities in New York shall have been declared by either federal
or New York State authorities, or (iii) there shall have occurred
any outbreak or material escalation of hostilities or other
calamity or crisis the effect of which on the financial markets
of the United States is such as to make it, in the reasonable
judgment of the Underwriter, impracticable to market such Offered
Certificates.
11. Representations and Indemnities to Survive
Delivery. The agreements, representations, warranties,
indemnities and other statements of the Company or its officers
and of the Underwriter set forth in or made pursuant to this
Agreement and the related Terms Agreement will remain in full
force and effect, regardless of any investigation made by or on
behalf of the Underwriter or the Company or any of the officers,
directors or controlling persons referred to in Section 7 hereof,
and will survive delivery of and payment for the related Offered
Certificates. The provisions of Section 7 hereof shall survive
the termination or cancellation of this Agreement and the related
Terms Agreement.
12. Successors. This Agreement and the related Terms
Agreement will inure to the benefit of and be binding upon the
parties hereto and thereto and their respective successors and
the officers, directors and controlling persons referred to in
Section 7 hereof, and their successors and assigns, and no other
person will have any right or obligation hereunder or thereunder.
No purchaser of any Offered Certificate from the Underwriter
shall be deemed a successor or assign by reason of such purchase.
13. APPLICABLE LAW. THIS AGREEMENT AND THE RELATED
TERMS AGREEMENT WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS
MADE AND TO BE PERFORMED THEREIN.
14. Miscellaneous. This Agreement, as supplemented by
the related Terms Agreement, supersedes all prior and
contemporaneous agreements and understandings relating to the
subject matter hereof. This Agreement and the related Terms
Agreement or any term of each may not be changed, waived,
discharged or terminated except by an affirmative written
agreement made by the party against whom enforcement of the
change, waiver, discharge or termination is sought. The headings
in this Agreement and the related Terms Agreement are for
purposes of reference only and shall not limit or otherwise
affect the meaning hereof or thereof.
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<PAGE>
15. Notices. All communications hereunder will be in
writing and effective only on receipt, and, if sent to the
Underwriter, will be delivered to it at the address first above
written; or if sent to the Company, will be delivered to GE
Capital Mortgage Services, Inc., Three Executive Campus, Cherry
Hill, New Jersey 08002, Attention: General Counsel.
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<PAGE>
If the foregoing is in accordance with your
understanding of our agreement, please sign and return to the
undersigned a counterpart hereof, whereupon this letter and your
acceptance shall represent a binding agreement between the
Company and the Underwriter.
Very truly yours,
GE CAPITAL MORTGAGE SERVICES, INC.
By:_______________________________
Name:
Title:
The foregoing Agreement is
hereby confirmed and accepted
as of the date first above written.
CS FIRST BOSTON CORPORATION
By:_______________________________
Name:
Title:
<PAGE>
EXHIBIT A
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES ____-__
TERMS AGREEMENT
(to Underwriting Agreement,
dated June 24, 1994
between the Company and the Underwriter)
GE Capital Mortgage Services, Inc. New York, New York
Three Executive Campus [Date]
Cherry Hill, NJ 08034
CS First Boston Corporation (the "Underwriter")
agrees, subject to the terms and provisions herein and of the
captioned Underwriting Agreement (the "Underwriting Agreement"),
to purchase such Classes of Series ____-__ Certificates specified
in Section 2(a) hereof (the "Offered Certificates"). This letter
supplements and modifies the Underwriting Agreement solely as it
relates to the purchase and sale of the Offered Certificates
described below. The Series ____-__ Certificates are registered
with the Securities and Exchange Commission by means of an
effective Registration Statement (No. 33-___). Capitalized terms
used and not defined herein have the meanings given them in the
Underwriting Agreement.
Section 1. The Mortgage Pool: The Series ____-__
Certificates shall evidence the entire beneficial ownership
interest in a mortgage pool (the "Mortgage Pool") of
conventional, fixed rate, fully amortizing one- to four-family
residential mortgage loans (the "Mortgage Loans") having the
following characteristics as of ________ __, ____ (the "Cut-off
Date"):
(a) Aggregate Principal Amount of the Mortgage Pool:
$[ ] aggregate principal balance as of the Cutoff Date,
subject to [an upward or downward variance of up to [ ]%,
the precise aggregate principal balance to be determined by
the Company][a permitted variance such that the aggregate
Scheduled Principal Balance thereof will be not less than
$[ ] or greater than $[ ]].
(b) Original Terms to Maturity: The original term to
maturity of each Mortgage Loan included in the Mortgage Pool
shall be between ___ and ___ years.
A-1
<PAGE>
Section 2. The Certificates: The Offered
Certificates shall be issued as follows:
(a) Classes: The Offered Certificates shall be issued
with the following Class designations, interest rates and
principal balances, subject in the aggregate to the
variance referred to in Section 1(a)[and, as to any
particular Class, to an upward or downward variance of up
to [ ]%]:
Principal Interest Class Purchase
Class Balance Rate Price Percentage
- ----- ------- ---- ----------------
(b) The Offered Certificates shall have such other
characteristics as described in the related Prospectus.
Section 3. Purchase Price: The Purchase Price for each
Class of the Offered Certificates shall be the Class Purchase
Price Percentage therefor (as set forth in Section 2(a) above) of
the initial Class Certificates Principal Balance thereof plus
accrued interest at the rate of [ ]% per annum from and including
the Cut-off Date up to, but not including, _________ __, ____
(the "Closing Date").
Section 4. Required Ratings: The Offered
Certificates shall have received Required Ratings of at least
[ ] from [ ].
Section 5. Tax Treatment: [One or more elections
will be made to treat the assets of the Trust Fund as a REMIC.]
[The Trust Fund will be treated as a "grantor trust" for federal
income tax purposes.]
[Section 6. Additional Expenses:]*
_________________
* to be inserted if applicable.
A-2
<PAGE>
If the foregoing is in accordance with your
understanding of our agreement, please sign and return to the
undersigned a counterpart hereof, whereupon this letter and your
acceptance shall represent a binding agreement between the
Underwriter and the Company.
Very truly yours,
CS FIRST BOSTON CORPORATION
By:___________________________
Name:
Title:
The foregoing Agreement is
hereby confirmed and accepted
as of the date first above written.
GE CAPITAL MORTGAGE SERVICES, INC.
By:____________________________
Name:
Title:
A-3
<PAGE>
EXECUTION
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES 1997-7
TERMS AGREEMENT
(to Underwriting Agreement
dated June 22, 1995,
between the Company and the Underwriter)
GE Capital Mortgage Services, Inc. New York, New York
Three Executive Campus July 28, 1997
Cherry Hill, NJ 08002
Credit Suisse First Boston Corporation (the
"Underwriter") agrees, subject to the terms and provisions herein
and of the captioned Underwriting Agreement (the "Underwriting
Agreement"), to purchase the Classes of Series 1997-7
Certificates specified in Section 2(a) hereof (the "Offered
Certificates"). This Terms Agreement supplements and modifies the
Underwriting Agreement solely as it relates to the purchase and
sale of the Offered Certificates described below. The Series
1997-7 Certificates are registered with the Securities and
Exchange Commission by means of an effective Registration
Statement (No. 333-24935). Capitalized terms used and not defined
herein have the meanings given them in the Underwriting
Agreement.
Section 1. The Mortgage Pool: The Series 1997-7
Certificates shall evidence the entire beneficial ownership
interest in a mortgage pool (the "Mortgage Pool") of
conventional, fixed rate, fully amortizing one- to four-family
residential mortgage loans (the "Mortgage Loans") having the
following characteristics as of July 1, 1997 (the "Cut-off
Date"):
(a) Aggregate Principal Amount of the Mortgage Pool:
$350,246,603 aggregate principal balance as of the Cut-off
Date, subject to a permitted variance such that the
aggregate original Certificate Principal Balance will be
not less than $332,500,000 or greater than $367,500,000.
(b) Original Terms to Maturity: The original term to
maturity of substantially all of the Mortgage Loans included
in the Mortgage Pool shall be between 20 and 30 years.
<PAGE>
Section 2. The Certificates: The Offered Certificates
shall be issued as follows:
(a) Classes: The Offered Certificates shall be issued
with the following Class designations, interest rates and
principal balances, subject in the aggregate to the
variance referred to in Section 1(a):
Class
Purchase
Principal Interest Price
Class Balance Rate Percentage
----- ------- ---- ----------
Class A1 $31,542,857.00 9.000% 99.257800%
Class A2 5,674,200.00 7.200 99.257800
Class A3 149,968,896.00 7.150 99.257800
Class A4 16,769,592.00 7.125 99.257800
Class A5 35,353,749.00 8.000 99.257800
Class A6 12,029,747.00 7.125 99.257800
Class A7 4,180,000.00 7.500 99.257800
Class A8 2,760,000.00 7.500 99.257800
Class A9 6,800,000.00 7.500 99.257800
Class A10 10,000,000.00 8.000 99.257800
Class A11 40,000,000.00 7.500 99.257800
Class A12 20,000,000.00 7.250 99.257800
Class R 100.00 7.500 99.257800
Class M 5,253,699.00 7.500 98.170980
Class B1 3,502,466.00 7.500 97.218750
Class B2 2,626,849.00 7.500 96.531250
(b) The Offered Certificates shall have such other
characteristics as described in the related Prospectus.
Section 3. Purchase Price: The Purchase Price for each
Class of the Offered Certificates shall be the Class Purchase
Price Percentage therefor (as set forth in Section 2(a) above) of
the initial Class Certificate Principal Balance thereof plus
accrued interest at the initial interest rate per annum from and
including the Cut-off Date up to, but not including, July 30,
1997 (the "Closing Date").
Section 4. Required Ratings: The Offered Certificates,
other than the Class M, Class B1 and Class B2 Certificates, shall
have received Required Ratings of at least "AAA" and "Aaa" from
Fitch Investors Service, L.P. ("Fitch") and Moody's Investors
Service, respectively. The Class M, Class B1 and Class B2
Certificates shall have received Required Ratings of at least
"AA", "A" and "BBB", respectively, from Fitch.
Section 5. Tax Treatment: One or more elections will
be made to treat the assets of the Trust Fund as a REMIC.
2
<PAGE>
Section 6. Additional Expenses. The Underwriter will
pay all expenses (e.g., shipping, postage and courier costs)
associated with the delivery of the Prospectus to prospective
investors and investors, other than the costs of delivery to the
Underwriter's facilities, provided, that if courier services
(other than overnight delivery services utilized in the ordinary
course of business) are required to ensure that the Prospectus is
delivered to investors on the day immediately preceding the
Closing Date, the Company will pay such courier expenses.
3
<PAGE>
If the foregoing is in accordance with your
understanding of our agreement, please sign and return to the
undersigned a counterpart hereof, whereupon this letter and your
acceptance shall represent a binding agreement between the
Underwriter and the Company.
Very truly yours,
CREDIT SUISSE FIRST BOSTON
CORPORATION
By:__________________________
Name:
Title:
The foregoing Agreement is
hereby confirmed and accepted
as of the date hereof.
GE CAPITAL MORTGAGE SERVICES, INC.
By:___________________________
Name:
Title:
EXECUTION
- -----------------------------------------------------------------
GE CAPITAL MORTGAGE SERVICES, INC.,
Seller and Servicer
and
STATE STREET BANK AND TRUST COMPANY,
Trustee
--------------------------------------
POOLING AND SERVICING AGREEMENT
Dated as of July 1, 1997
--------------------------------------
REMIC Multi-Class Pass-Through Certificates,
Series 1997-7
- -----------------------------------------------------------------
<PAGE>
TABLE OF CONTENTS
ARTICLE I
DEFINITIONS
1.01. Definitions..................................... 1
ARTICLE II
CONVEYANCE OF MORTGAGE LOANS;
ORIGINAL ISSUANCE OF CERTIFICATES
2.01. Conveyance of Mortgage Loans.................... 41
2.02. Acceptance by Trustee........................... 44
2.03. Representations and Warranties of the
Company; Mortgage Loan Repurchase............... 45
2.04. Execution of Certificates....................... 51
2.05. Designations under the REMIC Provisions......... 51
ARTICLE III
ADMINISTRATION AND SERVICING
OF MORTGAGE LOANS
3.01. Company to Act as Servicer...................... 52
3.02. Collection of Certain Mortgage Loan
Payments; Mortgage Loan Payment Record;
Certificate Account............................. 58
3.03. Collection of Taxes, Assessments and Other
Items........................................... 61
3.04. Permitted Debits to the Mortgage Loan
Payment Record.................................. 61
3.05. Maintenance of the Primary Insurance
Policies........................................ 63
3.06. Maintenance of Hazard Insurance................. 64
3.07. Assumption and Modification Agreements.......... 64
3.08. Realization Upon Defaulted Mortgage Loans....... 65
3.09. Trustee to Cooperate; Release of Mortgage
Files........................................... 69
3.10. Servicing Compensation; Payment of Certain
Expenses by the Company......................... 70
3.11. Reports to the Trustee; Certificate
Account Statements.............................. 70
3.12. Annual Statement as to Compliance............... 71
3.13. Annual Independent Public Accountants'
Servicing Report................................ 71
3.14. Access to Certain Documentation and
Information Regarding the Mortgage Loans........ 71
3.15. Maintenance of Certain Servicing Policies....... 72
3.16. Optional Purchase of Defaulted Mortgage
Loans........................................... 72
i
<PAGE>
Section Page
ARTICLE IV
PAYMENTS AND STATEMENTS
4.01. Distributions................................... 72
4.02. Method of Distribution.......................... 77
4.03. Allocation of Losses............................ 78
4.04. Monthly Advances; Purchases of Defaulted
Mortgage Loans.................................. 80
4.05. Statements to Certificateholders................ 81
4.06. Servicer's Certificate.......................... 84
4.07. Reports of Foreclosures and Abandonments
of Mortgaged Property........................... 84
4.08. Reduction of Servicing Fees by
Compensating Interest Payments.................. 84
ARTICLE V
THE CERTIFICATES
5.01. The Certificates................................ 85
5.02. Registration of Transfer and Exchange of
Certificates.................................... 87
5.03. Mutilated, Destroyed, Lost or Stolen
Certificates.................................... 94
5.04. Persons Deemed Owners........................... 95
5.05. Access to List of Certificateholders'
Names and Addresses............................. 95
5.06. Representation of Certain
Certificateholders.............................. 95
5.07. Determination of COFI........................... 96
5.08. Determination of LIBOR.......................... 97
ARTICLE VI
THE COMPANY
6.01. Liability of the Company........................ 98
6.02. Merger or Consolidation of, or Assumption
of the Obligations of, the Company.............. 98
6.03. Assignment...................................... 99
6.04. Limitation on Liability of the Company
and Others...................................... 99
6.05. The Company Not to Resign.......................100
ARTICLE VII
DEFAULT
7.01. Events of Default...............................100
7.02. Trustee to Act; Appointment of Successor........102
7.03. Notification to Certificateholders..............103
ii
<PAGE>
Section Page
ARTICLE VIII
THE TRUSTEE
8.01. Duties of Trustee...............................103
8.02. Certain Matters Affecting the Trustee...........105
8.03. Trustee Not Liable for Certificates or
Mortgage Loans..................................106
8.04. Trustee May Own Certificates....................106
8.05. The Company to Pay Trustee's Fees and
Expenses........................................106
8.06. Eligibility Requirements for Trustee............107
8.07. Resignation or Removal of Trustee...............107
8.08. Successor Trustee...............................108
8.09. Merger or Consolidation of Trustee..............109
8.10. Appointment of Co-Trustee or Separate
Trustee.........................................109
8.11. Compliance with REMIC Provisions; Tax
Returns.........................................110
ARTICLE IX
TERMINATION
9.01. Termination upon Repurchase by the Company
or Liquidation of All Mortgage Loans............111
9.02. Additional Termination Requirements.............113
ARTICLE X
MISCELLANEOUS PROVISIONS
10.01. Amendment......................................113
10.02. Recordation of Agreement.......................115
10.03. Limitation on Rights of
Certificateholders.............................115
10.04. Governing Law..................................116
10.05. Notices........................................116
10.06. Notices to the Rating Agencies.................117
10.07. Severability of Provisions.....................117
10.08. Certificates Nonassessable and Fully
Paid...........................................117
iii
<PAGE>
Exhibits
--------
EXHIBIT A Forms of Certificates
EXHIBIT B Principal Balance Schedules
EXHIBIT C Mortgage Loans
EXHIBIT D Form of Servicer's Certificate
EXHIBIT E Form of Transfer Certificate as to
ERISA Matters for Definitive
ERISA-Restricted Certificates
EXHIBIT F Form of Residual Certificate
Transferee Affidavit
EXHIBIT G Form of Residual Certificate
Transferor Letter
EXHIBIT H Additional Servicer Compensation
EXHIBIT I Form of Investment Letter for
Definitive Restricted Certificates
EXHIBIT J Form of Distribution Date
Statement
EXHIBIT K Form of Special Servicing and
Collateral Fund Agreement
EXHIBIT L Form of Lost Note Affidavit and
Agreement
iv
<PAGE>
THIS POOLING AND SERVICING AGREEMENT, dated as of July
1, 1997, between GE CAPITAL MORTGAGE SERVICES, INC., a
corporation organized and existing under the laws of the State of
New Jersey, and STATE STREET BANK AND TRUST COMPANY, a
Massachusetts banking corporation, as Trustee.
W I T N E S S E T H T H A T :
In consideration of the mutual agreements herein
contained, GE Capital Mortgage Services, Inc. and State Street
Bank and Trust Company agree as follows:
ARTICLE I
DEFINITIONS
Section 1.01. Definitions. Whenever used in this
Agreement, the following words and phrases, unless the context
otherwise requires, shall have the following meanings:
Accretion Directed Certificate: Initially, any Class
A7 and Class A8 Certificate and after the Class Certificate
Principal Balance of each of the Class A7 and Class A8
Certificates has been reduced to zero, any remaining Group
I Senior Certificate other than a Class A9 Certificate.
Accretion Termination Date: The earlier to occur of
(i) the Distribution Date on which the Group I Senior
Certificate Principal Balance (excluding the Class
Certificate Principal Balance of the Class A9 Certificates)
has been reduced to zero and (ii) the Cross-Over Date.
Accrual Amount: As to any Class of Accrual
Certificates and any Accrual Component and each
Distribution Date through the related Accretion Termination
Date, the sum of (x) any amount of Accrued Certificate
Interest allocable to such Class or Component pursuant to
Section 4.01(a)(i) on such Distribution Date and (y) any
amount of Unpaid Class Interest Shortfall allocable to such
Class or Component pursuant to Section 4.01(a)(ii) on such
Distribution Date, to the extent that such amounts are
distributed to any Accretion Directed Certificates pursuant
to Section 4.01(e). As to any Class of Accrual Certificates
and any Accrual Component and each Distribution Date after
the related Accretion Termination Date, zero.
Accrual Certificates: The Class A9 Certificates.
Accrual Component: None.
<PAGE>
Accrued Certificate Interest: As to any Distribution
Date and any Class of Certificates (other than any Class of
Principal Only Certificates and any Class of Certificates
consisting of Specified Components), interest accrued
during the related Interest Accrual Period at the
applicable Certificate Interest Rate on the Class
Certificate Principal Balance (or, in the case of any Class
of Notional Certificates other than the Class S
Certificates, on the aggregate Notional Principal Balance)
thereof immediately prior to (or, in the case of the Class
S Certificates, on the aggregate Notional Principal Balance
thereof with respect to) such Distribution Date, calculated
on the basis of a 360-day year consisting of twelve 30-day
months. As to any Distribution Date and any Specified
Component (other than any Principal Only Component),
interest accrued during the related Interest Accrual Period
at the applicable Component Interest Rate on the Component
Principal Balance (or Notional Component Principal Balance)
thereof immediately prior to such Distribution Date,
calculated on the basis of a 360-day year consisting of
twelve 30-day months. As to any Distribution Date and any
Class of Certificates consisting of Specified Components,
the aggregate of Accrued Certificate Interest on such
Specified Components for such Distribution Date.
Accrued Certificate Interest on each Class of
Certificates (other than any Class of Principal Only
Certificates and any Class of Certificates consisting of
Specified Components) and any Specified Component (other
than any Principal Only Component) shall be reduced by such
Class's or Specified Component's share of the amount of any
Net Interest Shortfall and Interest Losses for such
Distribution Date. Any Net Interest Shortfall and Interest
Losses shall be allocated among the Classes of Certificates
(other than any Class of Principal Only Certificates and
any Class of Certificates consisting of Specified
Components) and among the Specified Components (other than
any Principal Only Component) in proportion to the
respective amounts of Accrued Certificate Interest that
would have resulted absent such shortfall or losses.
Adjusted Group I Senior Optimal Principal Amount: As to
any Distribution Date occurring on or after the Class A8
Final Distribution Date and on or prior to the Accretion
Termination Date, the Group I Senior Optimal Principal
Amount increased by an amount equal to the lesser of (i) the
Class A9 Accrual Amount (or, as to the Class A8 Final
Distribution Date, any remaining Class A9 Accrual Amount for
such date after application of such amount to the reduction
of the Class Certificate Principal Balance of the Class A8
Certificates to zero) and (ii) such portion of the Class A9
Accrual Amount (or, as to the Class A8 Final Distribution
2
<PAGE>
Date, any remaining Class A9 Accrual Amount for such date
after application of such amount to the reduction of the
Class Certificate Principal Balance of the Class A8
Certificates to zero) that, when added to the Group I
Senior Optimal Principal Amount for such Distribution Date,
shall not exceed the Group I Senior Certificate Principal
Balance (as reduced by the Class Certificate Principal
Balance of the Class A9 Certificates). As to any
Distribution Date occurring before the Class A8 Final
Distribution Date or after the Accretion Termination Date,
the Group I Senior Optimal Principal Amount.
Agreement: This Pooling and Servicing Agreement and
all amendments hereof and supplements hereto.
Allocable Share: (a) As to any Distribution Date and
amounts distributable pursuant to clauses (i) and (iii) of
the definition of Junior Optimal Principal Amount, and as
to each Class of Junior Certificates, the fraction,
expressed as a percentage, the numerator of which is the
Class Certificate Principal Balance of such Class and the
denominator of which is the aggregate Class Certificate
Principal Balance of the Junior Certificates.
(b) As to any Distribution Date and amounts
distributable pursuant to clauses (ii), (iv) and (v) of the
definition of Junior Optimal Principal Amount, and as to
the Class M Certificates and each Class of Class B
Certificates for which the related Prepayment Distribution
Trigger has been satisfied on such Distribution Date, the
fraction, expressed as a percentage, the numerator of which
is the Class Certificate Principal Balance of such Class
and the denominator of which is the aggregate Class
Certificate Principal Balance of all such Classes. As to
any Distribution Date and each Class of Class B
Certificates for which the related Prepayment Distribution
Trigger has not been satisfied on such Distribution Date,
0%.
Amortization Payment: As to any REO Mortgage Loan and
any month, the payment of principal and accrued interest
due in such month in accordance with the terms of the
related Mortgage Note as contemplated by Section 3.08(b).
Amount Held for Future Distribution: As to each
Distribution Date, the total of all amounts credited to the
Mortgage Loan Payment Record as of the preceding
Determination Date on account of (i) Principal Prepayments,
Insurance Proceeds and Liquidation Proceeds received
subsequent to the preceding Prepayment Period applicable to
such receipts, and (ii) monthly payments of principal and
interest due subsequent to the preceding Due Date.
3
<PAGE>
Anniversary Determination Date: The Determination Date
occurring in August of each year that the Certificates are
outstanding, commencing in August 1997.
Assumed Monthly Payment Reduction: As of any
Anniversary Determination Date and as to any Non-Primary
Residence Loan remaining in the Mortgage Pool whose
original principal balance was 80% or greater of the
Original Value thereof, the excess of (i) the Monthly
Payment thereof calculated on the assumption that the
Mortgage Rate thereon was equal to the weighted average (by
principal balance) of the Net Mortgage Rates of all
Outstanding Mortgage Loans (the "Weighted Average Rate") as
of such Anniversary Determination Date over (ii) the
Monthly Payment thereof calculated on the assumption that
the Net Mortgage Rate thereon was equal to the Weighted
Average Rate less 1.25% per annum.
Available Funds: As to each Distribution Date, an
amount equal to the sum of (i) all amounts credited to the
Mortgage Loan Payment Record pursuant to Section 3.02 as of
the preceding Determination Date, (ii) any Monthly Advance
and any Compensating Interest Payment for such Distribution
Date, (iii) the Purchase Price of any Defective Mortgage
Loans, Defaulted Mortgage Loans, and Modified Mortgage
Loans deposited in the Certificate Account on the Business
Day preceding such Distribution Date (including any amounts
deposited in the Certificate Account in connection with any
substitution of a Mortgage Loan as specified in Section
2.03(b)), and (iv) the purchase price of any defaulted
Mortgage Loan purchased under an agreement entered into
pursuant to Section 3.08(e) as of the end of the preceding
Prepayment Period less the sum of (x) the Amount Held for
Future Distribution, and (y) amounts permitted to be
debited from the Mortgage Loan Payment Record pursuant to
clauses (i) through (vii) and (ix) of Section 3.04.
Bankruptcy Coverage Termination Date: The Distribution
Date upon which the Bankruptcy Loss Amount has been reduced
to zero or a negative number (or the Cross-Over Date, if
earlier).
Bankruptcy Loss Amount: As of any Determination Date
prior to the first Anniversary Determination Date, the
Bankruptcy Loss Amount shall equal $100,000, as reduced by
the aggregate amount of Deficient Valuations and Debt
Service Reductions since the Cut-off Date. As of any
Determination Date after the first Anniversary
Determination Date, other than an Anniversary Determination
Date, the Bankruptcy Loss Amount shall equal the Bankruptcy
Loss Amount on the immediately preceding Anniversary
Determination Date as reduced by the aggregate amount of
4
<PAGE>
Deficient Valuations and Debt Service Reductions since such
preceding Anniversary Determination Date. As of any
Anniversary Determination Date, the Bankruptcy Loss Amount
shall equal the lesser of (x) the Bankruptcy Loss Amount as
of the preceding Determination Date as reduced by any
Deficient Valuations and Debt Service Reductions for the
preceding Distribution Date, and (y) the greater of (i) the
Fitch Formula Amount for such Anniversary Determination
Date and (ii) the Formula Amount for such Anniversary
Determination Date.
The Bankruptcy Loss Amount may be further reduced by
the Company (including accelerating the manner in which
such coverage is reduced) provided that prior to any such
reduction, the Company shall obtain written confirmation
from each Rating Agency that such reduction shall not
adversely affect the then-current rating assigned to the
related Classes of Certificates by such Rating Agency and
shall provide a copy of such written confirmation to the
Trustee.
BIF: The Bank Insurance Fund of the FDIC, or its
successor in interest.
Book-Entry Certificate: Any Certificate registered in
the name of the Depository or its nominee, ownership of
which is reflected on the books of the Depository or on the
books of a person maintaining an account with such
Depository (directly or as an indirect participant in
accordance with the rules of such Depository). As of the
Closing Date, each Class of Certificates, other than the
Class B3, Class B4, Class B5, Class PO, Class R and Class S
Certificates, constitutes a Class of Book-Entry
Certificates.
Book-Entry Nominee: As defined in Section 5.02(b).
Business Day: Any day other than a Saturday or a
Sunday, or a day on which banking institutions in New York
City or the city in which the Corporate Trust Office is
located are authorized or obligated by law or executive
order to be closed.
Buydown Funds: Funds contributed by the Mortgagor or
another source in order to reduce the interest payments
required from the Mortgagor for a specified period in
specified amounts.
Buydown Mortgage Loan: Any Mortgage Loan as to which
the Mortgagor pays less than the full monthly payment
specified in the Mortgage Note during the Buydown Period and
the difference between the amount paid by the Mortgagor and
5
<PAGE>
the amount specified in the Mortgage Note is paid from the
related Buydown Funds.
Buydown Period: The period during which Buydown Funds
are required to be applied to the related Buydown Mortgage
Loan.
Certificate: Any one of the certificates signed and
countersigned by the Trustee in substantially the forms
attached hereto as Exhibit A.
Certificate Account: The trust account or accounts
created and maintained with the Trustee pursuant to Section
3.02 and which must be an Eligible Account.
Certificate Interest Rate: With respect to any Class
of Certificates other than the Class S Certificates and as
of any Distribution Date, the per annum fixed rate
specified in Section 5.01(b). With respect to the Class S
Certificates and any Distribution Date, the Strip Rate for
such Distribution Date.
Certificate Owner: With respect to any Book-Entry
Certificate, the person who is the beneficial owner thereof.
Certificate Principal Balance: As to any Certificate
other than a Notional Certificate, and as of any
Distribution Date, the Initial Certificate Principal
Balance of such Certificate (plus, in the case of any
Accrual Certificate or Certificate which includes an
Accrual Component, its Percentage Interest of any related
Accrual Amount or Accrual Amounts for each previous
Distribution Date) less the sum of (i) all amounts
distributed with respect to such Certificate in reduction
of the Certificate Principal Balance thereof on previous
Distribution Dates pursuant to Section 4.01, (ii) any
Realized Losses allocated to such Certificate on previous
Distribution Dates pursuant to Section 4.03(b) and (c), and
(iii) in the case of a Subordinate Certificate, such
Certificate's Percentage Interest of the Subordinate
Certificate Writedown Amount allocated to such Certificate
on previous Distribution Dates. The Notional Certificates
are issued without Certificate Principal Balances.
Certificate Register and Certificate Registrar: The
register maintained and the registrar appointed pursuant to
Section 5.02.
Certificateholder or Holder: The person in whose name
a Certificate is registered in the Certificate Register,
except that, solely for the purposes of giving any consent
pursuant to this Agreement, a Certificate of any Class to
6
<PAGE>
the extent that the Company or any affiliate is the
Certificate Owner or Holder thereof (except to the extent
the Company or any affiliate thereof shall be the
Certificate Owner or Holder of all Certificates of such
Class), shall be deemed not to be outstanding and the
Percentage Interest (or Voting Rights) evidenced thereby
shall not be taken into account in determining whether the
requisite amount of Percentage Interests (or Voting Rights)
necessary to effect any such consent has been obtained;
provided, however, that in determining whether the Trustee
shall be protected in relying on such consent only the
Certificates that the Trustee knows to be so held shall be
so disregarded.
Class: All Certificates bearing the same class
designation.
Class A8 Final Distribution Date: The Distribution
Date on which the Class Certificate Principal Balance of
the Class A8 Certificates has been reduced to zero.
Class B Certificate: Any Class B1, Class B2, Class B3,
Class B4 or Class B5 Certificate.
Class Certificate Principal Balance: As to any Class
of Certificates, other than any Class of Notional
Certificates, and as of any date of determination, the
aggregate of the Certificate Principal Balances of all
Certificates of such Class. The Class Certificate Principal
Balance of each such Class of Certificates as of the
Closing Date is specified in Section 5.01(b).
Class Interest Shortfall: As to any Distribution Date
and any Class of Certificates (other than any Class of
Principal Only Certificates or any Class consisting of
Specified Components) or any Specified Component, any
amount by which the amount distributed to Holders of such
Class of Certificates or in respect of such Specified
Component (or added to the Class Certificate Principal
Balance of any Class of Accrual Certificates or to the
Component Principal Balance of any Accrual Component
constituting a Specified Component) on such Distribution
Date is less than the Accrued Certificate Interest thereon
or in respect thereof for such Distribution Date. As to any
Distribution Date and any Class of Certificates consisting
of Specified Components, the sum of the Class Interest
Shortfalls for such Components on such date.
Class PO Deferred Amount: As to any Distribution Date
on or prior to the Cross-Over Date, the aggregate of the
applicable PO Percentage of the principal portion of each
Realized Loss, other than any Excess Loss, to be allocated
7
<PAGE>
to the Class PO Certificates on such Distribution Date or
previously allocated to the Class PO Certificates and not
yet paid to the Holders of the Class PO Certificates
pursuant to Section 4.01(a)(iv).
Closing Date: July 30, 1997.
Code: The Internal Revenue Code of 1986, as it may be
amended from time to time, any successor statutes thereto,
and applicable U.S. Department of the Treasury temporary or
final regulations promulgated thereunder.
COFI: The monthly weighted average cost of funds for
savings institutions the home offices of which are located
in Arizona, California, or Nevada that are member
institutions of the Eleventh Federal Home Loan Bank
District, as computed from statistics tabulated and
published by the Federal Home Loan Bank of San Francisco in
its monthly Information Bulletin.
COFI Certificates: None.
COFI Determination Date: As to each Interest Accrual
Period for any COFI Certificates, the last Business Day of
the calendar month preceding the commencement of such
Interest Accrual Period.
Company: GE Capital Mortgage Services, Inc., a
corporation organized and existing under the laws of the
State of New Jersey, or its successor in interest or, if
any successor servicer is appointed as herein provided,
then such successor servicer.
Compensating Interest Payment: With respect to any
Distribution Date, an amount equal to the aggregate of the
Interest Shortfalls described in clauses (a) and (b) of the
definition thereof with respect to such Distribution Date;
provided, however, that such amount shall not exceed the
lesser of (i) an amount equal to the product of (x) the
Pool Scheduled Principal Balance with respect to such
Distribution Date and (y) one-twelfth of 0.125%, and (ii)
the aggregate of the Servicing Fees that the Company would
be entitled to retain on such Distribution Date (less any
portion thereof paid as servicing compensation to any
Primary Servicer) without giving effect to any Compensating
Interest Payment.
Component: None.
Component Certificate: None.
Component Interest Rate: None.
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Component Principal Balance: As of any Distribution
Date, and with respect to any Component, other than any
Notional Component, the initial Component Principal Balance
thereof (as set forth, as applicable, in the definition of
Component) (plus, in the case of any Accrual Component, any
related Accrual Amount for each previous Distribution Date)
less the sum of (x) all amounts distributed in reduction
thereof on previous Distribution Dates pursuant to Section
4.01 and (y) the amount of all Realized Losses allocated
thereto pursuant to Section 4.03(d).
Confirmatory Mortgage Note: With respect to any
Mortgage Loan, a note or other evidence of indebtedness
executed by the Mortgagor confirming its obligation under
the note or other evidence of indebtedness previously
executed by the Mortgagor upon the origination of the
related Mortgage Loan.
Corporate Trust Office: The principal office of the
Trustee at which at any particular time its corporate trust
business shall be administered, which office at the date of
the execution of this instrument is located at 225 Franklin
Street, Boston, Massachusetts 02110, Attention: Corporate
Trust Department.
Cross-Over Date: The first Distribution Date on which
the aggregate Class Certificate Principal Balance of the
Junior Certificates has been reduced to zero (giving effect
to all distributions on such Distribution Date).
Cut-off Date: July 1, 1997.
Debt Service Reduction: As to any Mortgage Loan and
any Determination Date, the excess of (a) the then current
Monthly Payment for such Mortgage Loan over (b) the amount
of the monthly payment of principal and interest required
to be paid by the Mortgagor as established by a court of
competent jurisdiction as a result of a proceeding
initiated by or against the related Mortgagor under the
Bankruptcy Code, as amended from time to time (11 U.S.C.).
Defaulted Mortgage Loan: With respect to any
Determination Date, a Mortgage Loan as to which the related
Mortgagor has failed to make unexcused payment in full of a
total of three or more consecutive installments of
principal and interest, and as to which such delinquent
installments have not been paid, as of the close of
business on the last Business Day of the month next
preceding the month of such Determination Date.
Defective Mortgage Loan: Any Mortgage Loan which is
required to be purchased by the Company (or which the
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Company may replace with a substitute Mortgage Loan)
pursuant to Section 2.02 or 2.03(a).
Deficient Valuation: As to any Mortgage Loan and any
Determination Date, the excess of (a) the then outstanding
indebtedness under such Mortgage Loan over (b) the
valuation by a court of competent jurisdiction of the
related Mortgaged Property as a result of a proceeding
initiated by or against the related Mortgagor under the
Bankruptcy Code, as amended from time to time (11 U.S.C.),
pursuant to which such Mortgagor retained such Mortgaged
Property.
Definitive Certificate: Any Certificate, other than a
Book-Entry Certificate, issued in definitive, fully
registered form.
Definitive Restricted Junior Certificate: Any
Restricted Junior Certificate that is in the form of a
Definitive Certificate.
Depository: The initial Depository shall be The
Depository Trust Company, the nominee of which is CEDE &
Co. The Depository shall at all times be a "clearing
corporation" as defined in Section 8-102(3) of the Uniform
Commercial Code of the State of New York, as amended, or
any successor provisions thereto.
Depository Participant: A broker, dealer, bank or
other financial institution or other Person for which, from
time to time, the Depository effects book-entry transfers
and pledges of securities deposited with such Depository.
Designated Loan Closing Documents: With respect to any
Designated Loan, a Lost Note Affidavit substantially in the
form of Exhibit L, and an assignment of the related
Mortgage to the Trustee in recordable form (except for the
omission therein of recording information concerning such
Mortgage).
Designated Loans: None.
Determination Date: With respect to any Distribution
Date, the fifth Business Day prior thereto.
Discount Mortgage Loan: Any Mortgage Loan with a Net
Mortgage Rate less than 7.50% per annum.
Disqualified Organization: Any of the following: (i)
the United States, any State or political subdivision
thereof, or any agency or instrumentality of any of the
foregoing (including but not limited to state pension
organizations); (ii) a foreign government, International
10
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Organization or any agency or instrumentality of either of
the foregoing; (iii) an organization (except certain
farmers' cooperatives described in Code section 521) which
is exempt from tax imposed by Chapter 1 of the Code
(including the tax imposed by section 511 of the Code on
unrelated business taxable income); and (iv) a rural
electric and telephone cooperative described in Code
section 1381(a)(2)(C). The terms "United States," "State"
and "International Organization" shall have the meanings
set forth in Code section 7701 or successor provisions. A
corporation will not be treated as an instrumentality of
the United States or of any State or political subdivision
thereof for these purposes if all of its activities are
subject to tax and a majority of its board of directors is
not selected by such governmental unit.
Distribution Date: The 25th day of each calendar month
after the month of initial issuance of the Certificates,
or, if such 25th day is not a Business Day, the next
succeeding Business Day.
Distribution Date Statement: The statement referred to
in Section 4.05(a).
Document File: As defined in Section 2.01.
Due Date: The first day of the month of the related
Distribution Date.
Eligible Account: An account that is either (i)
maintained with a depository institution the debt
obligations of which have been rated by each Rating Agency
in one of its two highest long-term rating categories and
has been assigned by Moody's its highest short-term rating,
(ii) an account or accounts the deposits in which are fully
insured by either the BIF or the SAIF, (iii) an account or
accounts, in a depository institution in which such
accounts are insured by the BIF or the SAIF (to the limits
established by the FDIC), the uninsured deposits in which
accounts are either invested in Permitted Investments or
are otherwise secured to the extent required by the Rating
Agencies such that, as evidenced by an Opinion of Counsel
delivered to the Trustee, the Certificateholders have a
claim with respect to the funds in such account or a
perfected first security interest against any collateral
(which shall be limited to Permitted Investments) securing
such funds that is superior to claims of any other
depositors or creditors of the depository institution with
which such account is maintained, (iv) a trust account
maintained with the corporate trust department of a federal
or state chartered depository institution or of a trust
company with trust powers and acting in its fiduciary
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<PAGE>
capacity for the benefit of the Trustee hereunder or (v)
such account as will not cause either Rating Agency to
downgrade or withdraw its then-current rating assigned to
the Certificates, as evidenced in writing by the Rating
Agencies.
ERISA: The Employee Retirement Income Security Act of
1974, as amended.
ERISA-Restricted Certificate: Any Junior Certificate
or Class S Certificate.
Event of Default: An event described in Section 7.01.
Excess Bankruptcy Loss: Any Deficient Valuation or
Debt Service Reduction, or portion thereof, (i) occurring
after the Bankruptcy Coverage Termination Date or (ii) if
on such date, in excess of the then-applicable Bankruptcy
Loss Amount.
Excess Fraud Loss: Any Fraud Loss, or portion thereof,
(i) occurring after the Fraud Coverage Termination Date or
(ii) if on such date, in excess of the then-applicable
Fraud Loss Amount.
Excess Loss: Any Excess Bankruptcy Loss, Excess Fraud
Loss or Excess Special Hazard Loss.
Excess Special Hazard Loss: Any Special Hazard Loss,
or portion thereof, (i) occurring after the Special Hazard
Termination Date or (ii) if on such date, in excess of the
then-applicable Special Hazard Loss Amount.
FDIC: The Federal Deposit Insurance Corporation, or
its successor in interest.
FHLMC: The Federal Home Loan Mortgage Corporation or
its successor in interest.
Financial Intermediary: A broker, dealer, bank or
other financial institution or other Person that clears
through or maintains a custodial relationship with a
Depository Participant.
Fitch: Fitch Investors Service, L.P. and its
successors.
Fitch Formula Amount: As to each Anniversary
Determination Date, the greater of (i) $50,000 and (ii) the
product of (x) the greatest Assumed Monthly Payment
Reduction for any Non-Primary Residence Loan whose original
principal balance was 80% or greater of the Original Value
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thereof, (y) the weighted average remaining term to
maturity (expressed in months) of all the Non-Primary
Residence Loans remaining in the Mortgage Pool as of such
Anniversary Determination Date, and (z) the sum of (A) one
plus (B) the number of all remaining Non-Primary Residence
Loans divided by the total number of Outstanding Mortgage
Loans as of such Anniversary Determination Date.
FNMA: The Federal National Mortgage Association or its
successor in interest.
Formula Amount: As to each Anniversary Determination
Date, the greater of (i) $100,000 and (ii) the product of
(x) 0.06% and (y) the Scheduled Principal Balance of each
Mortgage Loan remaining in the Mortgage Pool whose original
principal balance was 75% or greater of the Original Value
thereof.
Fraud Coverage Termination Date: The Distribution Date
upon which the related Fraud Loss Amount has been reduced
to zero or a negative number (or the Cross-Over Date, if
earlier).
Fraud Loss: Any Realized Loss attributable to fraud in
the origination of the related Mortgage Loan.
Fraud Loss Amount: As of any Distribution Date after
the Cut-off Date, (x) prior to the first anniversary of the
Cut-off Date, an amount equal to $7,004,932 minus the
aggregate amount of Fraud Losses that would have been
allocated to the Junior Certificates in accordance with
Section 4.03 in the absence of the Loss Allocation
Limitation since the Cut-off Date, and (y) from the first
through the fifth anniversary of the Cut-off Date, an
amount equal to (1) the lesser of (a) the Fraud Loss Amount
as of the most recent anniversary of the Cut-off Date and
(b) 1.00% of the aggregate outstanding principal balance of
all of the Mortgage Loans as of the most recent anniversary
of the Cut-off Date minus (2) the Fraud Losses that would
have been allocated to the Junior Certificates in
accordance with Section 4.03 in the absence of the Loss
Allocation Limitation since the most recent anniversary of
the Cut-off Date. After the fifth anniversary of the
Cut-off Date the Fraud Loss Amount shall be zero.
Group I Final Distribution Date: The first
Distribution Date on which the aggregate Certificate
Principal Balance of the Group I Senior Certificates has
been reduced to zero.
Group I Excess Amount: As set forth in the definition
of Group I Senior Optimal Principal Amount.
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Group I Scheduled Distribution Percentage: As to any
Distribution Date occurring during the periods set forth
below, as follows:
Group I Scheduled
Period (dates inclusive): Distribution Percentage:
August 1997 - July 2002 Senior Percentage
August 2002 - July 2003 Group I Senior Percentage
plus 70% of the Group II
Senior Percentage
August 2003 - July 2004 Group I Senior Percentage
plus 60% of the Group II
Senior Percentage
August 2004 - July 2005 Group I Senior Percentage
plus 40% of the Group II
Senior Percentage
August 2005 - July 2006 Group I Senior Percentage
plus 20% of the Group II
Senior Percentage
August 2006 - and thereafter Group I Senior Percentage;
provided, that the Group I Scheduled Distribution
Percentage on any Distribution Date after the Group I Final
Distribution Date shall equal zero.
Group I Senior Certificate: Any Class A1, Class A2,
Class A3, Class A4, Class A5, Class A6, Class A7, Class A8,
Class A9 or Class R Certificate.
Group I Senior Certificate Principal Balance: As to
any Distribution Date, an amount equal to the sum of the
Class Certificate Principal Balances of the Group I Senior
Certificates.
Group I Senior Optimal Principal Amount: As to any
Distribution Date, an amount equal to the sum of:
(i) the Group I Scheduled Distribution Percentage of
the applicable Non-PO Percentage of the principal
portion of each Monthly Payment due on the related
Due Date on each Outstanding Mortgage Loan as of
such Due Date as specified in the amortization
schedule at the time applicable thereto (after
adjustments for previous Principal Prepayments and
Debt Service Reductions subsequent to the
Bankruptcy Coverage Termination Date but before
any adjustment to such amortization schedule by
reason of any bankruptcy (except as aforesaid) or
similar proceeding or any moratorium or similar
waiver or grace period);
(ii) the Group I Senior Prepayment Percentage of the
applicable Non-PO Percentage of all principal
prepayments in part received during the related
Prepayment Period, together with the Group I
Senior Prepayment Percentage of the applicable
Non-PO Percentage of the Scheduled Principal
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Balance of each Mortgage Loan which was the
subject of a Voluntary Principal Prepayment in
full during the related Prepayment Period;
(iii) the lesser of (x) the Group I Scheduled
Distribution Percentage of the applicable Non-PO
Percentage of the sum of (A) the Scheduled
Principal Balance of each Mortgage Loan that
became a Liquidated Mortgage Loan (other than
Mortgage Loans described in clause (B)) during the
related Prepayment Period and (B) the Scheduled
Principal Balance of each Mortgage Loan that was
purchased by an insurer from the Trustee during
the related Prepayment Period pursuant to the
related Primary Insurance Policy, as reduced in
each case by the Group I Scheduled Distribution
Percentage of the applicable Non-PO Percentage of
the principal portion of any Excess Losses (other
than Excess Bankruptcy Losses attributable to Debt
Service Reductions), and (y) the Group I Senior
Prepayment Percentage of the applicable Non-PO
Percentage of the sum of (A) all Net Liquidation
Proceeds allocable to principal received in
respect of each such Liquidated Mortgage Loan
(other than Mortgage Loans described in clause
(B)) and (B) the principal balance of each such
Mortgage Loan purchased by an insurer from the
Trustee pursuant to the related Primary Insurance
Policy, in each case during the related Prepayment
Period;
(iv) the Group I Senior Prepayment Percentage of the
applicable Non-PO Percentage of the Scheduled
Principal Balance of each Mortgage Loan which was
purchased on such Distribution Date pursuant to
Section 2.02, 2.03(a) or 3.16; and
(v) the Group I Senior Prepayment Percentage of the
applicable Non-PO Percentage of the Substitution
Amount for any Mortgage Loan substituted during
the month of such Distribution Date.
For purposes of clause (ii) above, a Voluntary Principal
Prepayment in full with respect to a Mortgage Loan serviced
by a Primary Servicer shall be deemed to have been received
when the Company, as servicer, receives notice thereof.
If on the Group I Final Distribution Date, the Adjusted
Group I Senior Optimal Principal Amount exceeds the amount
necessary to reduce the Group I Senior Certificate Principal
Balance to zero, then the Group I Senior Optimal Principal
Amount shall be reduced by an amount equal to such excess
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<PAGE>
(the "Group I Excess Amount") and the Group II Senior
Optimal Principal Amount shall be increased by the Group I
Excess Amount.
Group I Senior Percentage: As to any Distribution
Date, the lesser of (i) 100% and (ii) the percentage
(carried to six places rounded up) obtained by dividing the
Group I Senior Certificate Principal Balance immediately
prior to such Distribution Date by an amount equal to the
sum of the Class Certificate Principal Balances of all the
Certificates other than the Class PO Certificates
immediately prior to such Distribution Date.
Group I Senior Prepayment Percentage: As to any
Distribution Date, the Senior Prepayment Percentage
multiplied by the Group I Scheduled Distribution Percentage
divided by the Senior Percentage (in each case, for such
Distribution Date).
Group II Scheduled Distribution Percentage: As to any
Distribution Date prior to August 2002, 0%. For any
Distribution Date occurring on or after August 2002, the
Senior Percentage minus the Group I Scheduled Distribution
Percentage for such Distribution Date; except that, on any
Distribution Date after the Group I Final Distribution
Date, the Group II Scheduled Distribution Percentage shall
equal the Senior Percentage.
Group II Senior Certificate: Any Class A10, Class
A11 or Class A12 Certificate.
Group II Senior Certificate Principal Balance: As of
any Distribution Date, an amount equal to sum of the Class
Certificate Principal Balance of the Group II Senior
Certificates.
Group II Senior Optimal Principal Amount: As to
any Distribution Date, an amount equal to the sum of:
(i) the Group II Scheduled Distribution Percentage of
the applicable Non-PO Percentage of the principal
portion of each Monthly Payment due on the related
Due Date on each Outstanding Mortgage Loan as of
such Due Date as specified in the amortization
schedule at the time applicable thereto (after
adjustments for previous Principal Prepayments and
Debt Service Reductions subsequent to the
Bankruptcy Coverage Termination Date but before
any adjustment to such amortization schedule by
reason of any bankruptcy (except as aforesaid) or
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<PAGE>
similar proceeding or any moratorium or similar
waiver or grace period);
(ii) the Group II Senior Prepayment Percentage of the
applicable Non-PO Percentage of all principal
prepayments in part received during the related
Prepayment Period, together with the Group II
Senior Prepayment Percentage of the Non-PO
Percentage of the Scheduled Principal Balance of
each Mortgage Loan which was the subject of a
Voluntary Principal Prepayment in full during the
related Prepayment Period;
(iii) the amount by which (a) the lesser of (x) the
Senior Percentage of the applicable Non-PO
Percentage of the sum of (A) the Scheduled
Principal Balance of each Mortgage Loan that
became a Liquidated Mortgage Loan (other than
Mortgage Loans described in clause (B)) during the
related Prepayment Period and (B) the Scheduled
Principal Balance of each Mortgage Loan that was
purchased by an insurer from the Trustee during
the related Prepayment Period pursuant to the
related Primary Insurance Policy, as reduced in
each case by the Senior Percentage of the
applicable Non-PO Percentage of the principal
portion of any Excess Losses (other than Excess
Bankruptcy Losses attributable to Debt Service
Reductions), and (y) the Senior Prepayment
Percentage of the applicable Non-PO Percentage of
the sum of (A) all Net Liquidation Proceeds
allocable to principal received in respect of each
such Liquidated Mortgage Loan (other than Mortgage
Loans described in clause (B)) and (B) the
principal balance of each such Mortgage Loan
purchased by an insurer from the Trustee pursuant
to the related Primary Insurance Policy, in each
case during the related Prepayment Period exceeds
(b) the amount distributable pursuant to clause
(iii) of the definition of Group I Senior Optimal
Principal Amount;
(iv) the Group II Senior Prepayment Percentage of the
applicable Non-PO Percentage of the Scheduled
Principal Balance of each Mortgage Loan which was
purchased on such Distribution Date pursuant to
Section 2.02, 2.03(a) or 3.16; and
(v) the Group II Senior Prepayment Percentage of the
applicable Non-PO Percentage of the Substitution
Amount for any Mortgage Loan substituted during
the month of such Distribution Date.
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<PAGE>
For purposes of clause (ii) above, a Voluntary Principal
Prepayment in full with respect to a Mortgage Loan serviced
by a Primary Servicer shall be deemed to have been received
when the Company, as servicer, receives notice thereof. On
the Group I Final Distribution Date, the Group II Senior
Optimal Principal Amount shall be increased by the Group I
Excess Amount, if any.
Group II Senior Percentage: As to any Distribution
Date, the Senior Percentage minus the Group I Senior
Percentage.
Group II Senior Prepayment Percentage: As to any
Distribution Date, the Senior Prepayment Percentage minus
the Group I Senior Prepayment Percentage. After the Group I
Final Distribution Date, the Group II Senior Prepayment
Percentage for any Distribution Date shall be the Senior
Prepayment Percentage for such Distribution Date.
Initial Certificate Principal Balance: With respect to
any Certificate, other than a Notional Certificate, the
Certificate Principal Balance of such Certificate or any
predecessor Certificate on the Closing Date.
Initial LIBOR Rate: None.
Insurance Proceeds: Proceeds paid pursuant to the
Primary Insurance Policies, if any, and amounts paid by any
insurer pursuant to any other insurance policy covering a
Mortgage Loan.
Insured Expenses: Expenses covered by the Primary
Insurance Policies, if any, or any other insurance policy or
policies applicable to the Mortgage Loans.
Interest Accrual Period: With respect to any
Distribution Date and any Class of Certificates (other than
any Class of Principal Only Certificates), or Component,
the one-month period ending on the last day of the month
preceding the month in which such Distribution Date occurs.
Interest Losses: The interest portion of (i) on or
prior to the Cross-Over Date, any Excess Losses and (ii)
after the Cross-Over Date, any Realized Losses and Debt
Service Reductions.
Interest Shortfall: With respect to any Distribution
Date and each Mortgage Loan that during the related
Prepayment Period was the subject of a Voluntary Principal
Prepayment or constitutes a Relief Act Mortgage Loan, an
amount determined as follows:
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(a) partial principal prepayments: one month's
interest at the applicable Net Mortgage Rate on the
amount of such prepayment;
(b) principal prepayments in full (including the
Purchase Price of any Modified Mortgage Loan purchased
pursuant to Section 3.01(c)) received on or after the
sixteenth day of the month preceding the month of such
Distribution Date (or, in the case of the first
Distribution Date, on or after the Cut-off Date) but
on or before the last day of the month preceding the
month of such Distribution Date, the difference
between (i) one month's interest at the applicable Net
Mortgage Rate on the Scheduled Principal Balance of
such Mortgage Loan immediately prior to such
prepayment and (ii) the amount of interest for the
calendar month of such prepayment (adjusted to the
applicable Net Mortgage Rate) received at the time of
such prepayment;
(c) principal prepayments in full (including the
Purchase Price of any Modified Mortgage Loan purchased
pursuant to Section 3.01(c)) received by the Company
(or of which the Company receives notice, in the case
of a Mortgage Loan serviced by a Primary Servicer) on
or after the first day but on or before the fifteenth
day of the month of such Distribution Date: none; and
(d) Relief Act Mortgage Loans: As to any Relief
Act Mortgage Loan, the excess of (i) 30 days' interest
(or, in the case of a Principal Prepayment in full,
interest to the date of prepayment) on the Scheduled
Principal Balance thereof (or, in the case of a
Principal Prepayment in part, on the amount so
prepaid) at the related Net Mortgage Rate over (ii) 30
days' interest (or, in the case of a Principal
Prepayment in full, interest to the date of
prepayment) on such Scheduled Principal Balance (or,
in the case of a Principal Prepayment in part, on the
amount so prepaid) at the Net Mortgage Rate required
to be paid by the Mortgagor as limited by application
of the Relief Act.
Junior Certificate: Any Class M or Class B
Certificate.
Junior Optimal Principal Amount: As to any
Distribution Date, an amount equal to the sum of the
following (but in no event greater than the aggregate
Certificate Principal Balance of the Junior Certificates
immediately prior to such Distribution Date):
(i) the Junior Percentage of the applicable Non-PO
Percentage of the principal portion of each
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Monthly Payment due on the related Due Date on
each Outstanding Mortgage Loan as of such Due
Date as specified in the amortization schedule at
the time applicable thereto (after adjustment for
previous Principal Prepayments and Debt Service
Reductions subsequent to the Bankruptcy Coverage
Termination Date but before any adjustment to
such amortization schedule by reason of any
bankruptcy (other than as aforesaid) or similar
proceeding or any moratorium or similar waiver or
grace period);
(ii) the Junior Prepayment Percentage of the applicable
Non-PO Percentage of all principal prepayments in
part received during the related Prepayment
Period, and 100% of any Senior Optimal Principal
Amount not distributed to the Senior Certificates
on such Distribution Date, together with the
Junior Prepayment Percentage of the applicable
Non-PO Percentage of the Scheduled Principal
Balance of each Mortgage Loan which was the
subject of a Voluntary Principal Prepayment in
full during the related Prepayment Period;
(iii) the excess, if any, of (x) the applicable Non-PO
Percentage of the sum of (A) all Net Liquidation
Proceeds allocable to principal received during
the related Prepayment Period (other than in
respect of Mortgage Loans described in clause (B))
and (B) the principal balance of each Mortgage
Loan that was purchased by an insurer from the
Trustee during the related Prepayment Period
pursuant to the related Primary Insurance Policy,
over (y) the amount distributable pursuant to
clause (iii) of each of the definitions of Group I
Senior Optimal Principal Amount and Group II
Senior Optimal Principal Amount on such
Distribution Date;
(iv) the Junior Prepayment Percentage of the
applicable Non-PO Percentage of the Scheduled
Principal Balance of each Mortgage Loan which was
purchased on such Distribution Date pursuant to
Section 2.02, 2.03(a) or 3.16; and
(v) the Junior Prepayment Percentage of the
applicable Non-PO Percentage of the Substitution
Amount for any Mortgage Loan substituted during
the month of such Distribution Date.
For purposes of clause (ii) above, a Voluntary Principal
Prepayment in full with respect to a Mortgage Loan serviced
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<PAGE>
by a Primary Servicer shall be deemed to have been received
when the Company, as servicer, receives notice thereof.
After the Class Certificate Principal Balances of the
Junior Certificates have been reduced to zero, the Junior
Optimal Principal Amount shall be zero.
Junior Percentage: As to any Distribution Date, the
excess of 100% over the Senior Percentage for such
Distribution Date.
Junior Prepayment Percentage: As to any Distribution
Date, the excess of 100% over the Senior Prepayment
Percentage for such Distribution Date, except that (i)
after the aggregate Certificate Principal Balance of the
Senior Certificates other than the Class PO Certificates
has been reduced to zero, the Junior Prepayment Percentage
shall be 100%, and (ii) after the Cross-Over Date, the
Junior Prepayment Percentage shall be zero.
Latest Possible Maturity Date: August 25, 2029.
LIBOR: The per annum rate determined, pursuant to
Section 5.08, on the basis of London interbank offered rate
quotations for one-month Eurodollar deposits, as such
quotations may appear on the display designated as page
"LIBO" on the Reuters Monitor Money Rates Service (or such
other page as may replace the LIBO page on the Reuters
Monitor Money Rates Service for the purpose of displaying
London interbank offered quotations of major banks).
LIBOR Certificates: None.
LIBOR Determination Date: The second London Business
Day immediately preceding the commencement of each Interest
Accrual Period for any LIBOR Certificates.
Liquidated Mortgage Loan: Any defaulted Mortgage Loan
as to which the Company has determined that all amounts
which it expects to recover on behalf of the Trust Fund
from or on account of such Mortgage Loan have been
recovered, including any Mortgage Loan with respect to
which the Company determines not to foreclose upon the
related Mortgaged Property based on its belief that such
Mortgaged Property may be contaminated with or affected by
hazardous or toxic wastes, materials or substances.
Liquidation Expenses: Expenses which are incurred by
the Company in connection with the liquidation of any
defaulted Mortgage Loan and not recovered by the Company
under any Primary Insurance Policy for reasons other than
the Company's failure to comply with Section 3.05, such
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expenses including, without limitation, legal fees and
expenses, and, regardless of when incurred, any
unreimbursed amount expended by the Company pursuant to
Section 3.03 or Section 3.06 respecting the related
Mortgage Loan and any related and unreimbursed Property
Protection Expenses.
Liquidation Proceeds: Cash (other than Insurance
Proceeds) received in connection with the liquidation of
any defaulted Mortgage Loan whether through judicial
foreclosure or otherwise.
London Business Day: Any day on which banks are open
for dealing in foreign currency and exchange in London,
England and New York City.
Loss Allocation Limitation: As defined in Section
4.03(g).
Modified Mortgage Loan: Any Mortgage Loan which the
Company has modified pursuant to Section 3.01(c).
Monthly Advance: With respect to any Distribution
Date, the aggregate of the advances required to be made by
the Company pursuant to Section 4.04(a) (or by the Trustee
pursuant to Section 4.04(b)) on such Distribution Date, the
amount of any such Monthly Advance being equal to (a) the
aggregate of payments of principal and interest (adjusted
to the related Net Mortgage Rate) on the Mortgage Loans
that were due on the related Due Date, without regard to
any arrangements entered into by the Company with the
related Mortgagors pursuant to Section 3.02(a)(ii), and
delinquent as of the close of business on the Business Day
next preceding the related Determination Date, less (b) the
amount of any such payments which the Company or the
Trustee, as applicable, in its reasonable judgment believes
will not be ultimately recoverable by it either out of late
payments by the Mortgagor, Net Liquidation Proceeds,
Insurance Proceeds, REO Proceeds or otherwise. With respect
to any Mortgage Loan, the portion of any such advance or
advances made with respect thereto.
Monthly Payment: The scheduled monthly payment on a
Mortgage Loan for any month allocable to principal or
interest on such Mortgage Loan.
Moody's: Moody's Investors Service, Inc. and its
successors.
Mortgage: The mortgage or deed of trust creating a
first lien on a fee simple interest in real property
securing a Mortgage Note.
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Mortgage File: The mortgage documents listed in
Section 2.01 pertaining to a particular Mortgage Loan and
any additional documents required to be added to such
documents pursuant to this Agreement.
Mortgage Loan Payment Record: The record maintained by
the Company pursuant to Section 3.02(b).
Mortgage Loan Schedule: As of any date of
determination, the schedule of Mortgage Loans included in
the Trust Fund. The initial schedule of Mortgage Loans as
of the Cut-off Date is attached hereto as Exhibit C.
Mortgage Loans: As of any date of determination, each
of the mortgage loans identified on the Mortgage Loan
Schedule (as amended pursuant to Section 2.03(b)) delivered
and assigned to the Trustee pursuant to Section 2.01 or
2.03(b), and not theretofore released from the Trust Fund
by the Trustee.
Mortgage Note: With respect to any Mortgage Loan, the
note or other evidence of indebtedness (which may consist
of a Confirmatory Mortgage Note) evidencing the
indebtedness of a Mortgagor under such Mortgage Loan.
Mortgage Pool: The aggregate of the Mortgage Loans
identified in the Mortgage Loan Schedule.
Mortgage Rate: The per annum rate of interest borne by
a Mortgage Loan as set forth in the related Mortgage Note.
Mortgaged Property: The property securing the Mortgage
Note.
Mortgagor: With respect to any Mortgage Loan, each
obligor on the related Mortgage Note.
Net Interest Shortfall: With respect to any
Distribution Date, the excess, if any, of the aggregate
Interest Shortfalls for such Distribution Date over any
Compensating Interest Payment for such date.
Net Liquidation Proceeds: As to any Liquidated
Mortgage Loan, the sum of (i) any Liquidation Proceeds
therefor less the related Liquidation Expenses, and (ii)
any Insurance Proceeds therefor, other than any such
Insurance Proceeds applied to the restoration of the
related Mortgaged Property.
Net Mortgage Rate: With respect to any Mortgage Loan,
the related Mortgage Rate less the applicable Servicing Fee
Rate.
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Non-Book-Entry Certificate: Any Certificate other than
a Book-Entry Certificate.
Non-Credit Loss: Any Fraud Loss, Special Hazard Loss
or Deficient Valuation.
Non-Discount Mortgage Loan: Any Mortgage Loan with a
Net Mortgage Rate greater than or equal to 7.50% per annum.
Non-permitted Foreign Holder: As defined in Section
5.02(b).
Non-PO Percentage: As to any Discount Mortgage Loan, a
fraction (expressed as a percentage), the numerator of
which is the Net Mortgage Rate of such Discount Mortgage
Loan and the denominator of which is 7.50%. As to any
Non-Discount Mortgage Loan, 100%.
Non-Primary Residence Loan: Any Mortgage Loan secured
by a Mortgaged Property that is (on the basis of
representations made by the Mortgagors at origination) a
second home or investor-owned property.
Nonrecoverable Advance: All or any portion of any
Monthly Advance or Monthly Advances previously made by the
Company (or the Trustee) which, in the reasonable judgment
of the Company (or, as applicable, the Trustee) will not be
ultimately recoverable from related Net Liquidation
Proceeds, Insurance Proceeds, REO Proceeds or otherwise.
The determination by the Company that it has made a
Nonrecoverable Advance or that any advance, if made, would
constitute a Nonrecoverable Advance, shall be evidenced by
an Officer's Certificate of the Company delivered to the
Trustee and detailing the reasons for such determination.
Non-U.S. Person: As defined in Section 4.02(c).
Notional Certificate: Any Class S Certificate.
Notional Component: None.
Notional Component Balance: None.
Notional Principal Balance: As to any Distribution
Date and the Class S Certificates, the aggregate Scheduled
Principal Balance of the Outstanding Non-Discount Mortgage
Loans as of the Due Date in the month preceding such
Distribution Date. As to any Distribution Date and any
Class S Certificate, such Certificate's Percentage Interest
of the aggregate Notional Principal Balance of the Class S
Certificates for such Distribution Date.
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<PAGE>
Officer's Certificate: A certificate signed by the
President, a Senior Vice President or a Vice President of
the Company and delivered to the Trustee.
Opinion of Counsel: A written opinion of counsel, who
may be counsel for the Company; provided, however, that any
Opinion of Counsel with respect to the interpretation or
application of the REMIC Provisions or the status of an
account as an Eligible Account shall be the opinion of
independent counsel satisfactory to the Trustee.
Original Subordinate Principal Balance: As set forth
in the definition of Senior Prepayment Percentage.
Original Value: The value of the property underlying a
Mortgage Loan based, in the case of the purchase of the
underlying Mortgaged Property, on the lower of an appraisal
satisfactory to the Company or the sales price of such
property or, in the case of a refinancing, on an appraisal
satisfactory to the Company.
Outstanding Mortgage Loan: With respect to any Due
Date, a Mortgage Loan which, prior to such Due Date, was
not the subject of a Principal Prepayment in full, did not
become a Liquidated Mortgage Loan and was not purchased
pursuant to Section 2.02, 2.03(a), 3.01(c) or 3.16 or
replaced pursuant to Section 2.03(b).
Outstanding Non-Discount Mortgage Loan: Any
Outstanding Mortgage Loan that is a Non-Discount Mortgage
Loan.
PAC Balance: As to any Distribution Date and any Class
of PAC Certificates and any PAC Component, the balance
designated as such for such Distribution Date and such
Class or Component as set forth in the Principal Balance
Schedules.
PAC Certificate: None.
PAC Component: None.
Pay-out Rate: With respect to any Class of
Certificates (other than any Class of Principal Only
Certificates) and any Distribution Date, the rate at which
interest is distributed on such Class on such Distribution
Date and which is equal to a fraction (expressed as an
annualized percentage) the numerator of which is the
Accrued Certificate Interest for such Class and
Distribution Date, and the denominator of which is the
Class Certificate Principal Balance (or, in the case of the
Notional
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<PAGE>
Certificates, the Notional Principal Balance) of such Class
immediately prior to such Distribution Date.
Percentage Interest: With respect to any Certificate,
the percentage interest in the undivided beneficial
ownership interest in the Trust Fund evidenced by
Certificates of the same Class as such Certificate. With
respect to any Certificate, the Percentage Interest
evidenced thereby shall equal the Initial Certificate
Principal Balance (or, in the case of a Notional
Certificate, the initial Notional Principal Balance)
thereof divided by the aggregate Initial Certificate
Principal Balance (or, in the case of a Notional
Certificate, the aggregate initial Notional Principal
Balance) of all Certificates of the same Class.
Permitted Investments: One or more of the following;
provided, however, that no such Permitted Investment may
mature later than the Business Day preceding the
Distribution Date after such investment except as otherwise
provided in Section 3.02(e) hereof, provided, further, that
such investments qualify as "cash flow investments" as
defined in section 860G(a)(6) of the Code:
(i) obligations of, or guaranteed as to timely
receipt of principal and interest by, the United
States or any agency or instrumentality thereof when
such obligations are backed by the full faith and
credit of the United States;
(ii) repurchase agreements on obligations
specified in clause (i) provided that the unsecured
obligations of the party agreeing to repurchase such
obligations are at the time rated by each Rating
Agency in the highest long-term rating category;
(iii) federal funds, certificates of deposit, time
deposits and banker's acceptances, of any U.S.
depository institution or trust company incorporated
under the laws of the United States or any state
provided that the debt obligations of such depository
institution or trust company at the date of
acquisition thereof have been rated by each Rating
Agency in the highest long-term rating category;
(iv) commercial paper of any corporation
incorporated under the laws of the United States or
any state thereof which on the date of acquisition has
the highest short term rating of each Rating Agency;
and
(v) other obligations or securities that are
acceptable to each Rating Agency as a Permitted
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<PAGE>
Investment hereunder and will not, as evidenced in
writing, result in a reduction or withdrawal in the
then current rating of the Certificates.
Notwithstanding the foregoing, Permitted Investments shall
not include "stripped securities" and investments which
contractually may return less than the purchase price
therefor.
Person: Any legal person, including any individual,
corporation, partnership, joint venture, association,
joint-stock company, trust, unincorporated organization or
government or any agency or political subdivision thereof.
Plan: Any Person which is an employee benefit plan
subject to ERISA or a plan subject to section 4975 of the
Code.
PO Percentage: As to any Discount Mortgage Loan, a
fraction (expressed as a percentage), the numerator of
which is the excess of 7.50% over the Net Mortgage Rate of
such Discount Mortgage Loan and the denominator of which is
7.50%. As to any Non-Discount Mortgage Loan, 0%.
PO Principal Distribution Amount: As to any
Distribution Date, an amount equal to the sum of the
applicable PO Percentage of:
(i) the principal portion of each Monthly Payment due
on the related Due Date on each Outstanding
Mortgage Loan as of such Due Date as specified in
the amortization schedule at the time applicable
thereto (after adjustments for previous Principal
Prepayments and Debt Service Reductions subsequent
to the Bankruptcy Coverage Termination Date but
before any adjustment to such amortization
schedule by reason of any bankruptcy (except as
aforesaid) or similar proceeding or any moratorium
or similar waiver or grace period);
(ii) all principal prepayments in part received during
the related Prepayment Period, together with the
Scheduled Principal Balance (as reduced by any
Deficient Valuation occurring on or prior to the
Bankruptcy Coverage Termination Date) of each
Mortgage Loan which was the subject of a Voluntary
Principal Prepayment in full during the related
Prepayment Period;
(iii) the sum of (A) all Net Liquidation Proceeds
allocable to principal received in respect of each
Mortgage Loan that became a Liquidated Mortgage
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<PAGE>
Loan during the related Prepayment Period (other
than Mortgage Loans described in clause (B)) and
(B) the principal balance of each Mortgage Loan
purchased by an insurer from the Trustee pursuant
to the related Primary Insurance Policy, in each
case during the related Prepayment Period;
(iv) the Scheduled Principal Balance (as reduced by
any Deficient Valuation occurring on or prior to
the Bankruptcy Coverage Termination Date) of each
Mortgage Loan which was purchased on such
Distribution Date pursuant to Section 2.02,
2.03(a) or 3.16; and
(v) the Substitution Amount for any Mortgage Loan
substituted during the month of such Distribution
Date; for purposes of this clause (v), the
definition of "Substitution Amount" shall be
modified to reduce the Scheduled Principal Balance
of the Mortgage Loan that is substituted for by
any Deficient Valuation occurring on or prior to
the Bankruptcy Coverage Termination Date.
For purposes of clause (ii) above, a Voluntary Principal
Prepayment in full with respect to a Mortgage Loan serviced
by a Primary Servicer shall be deemed to have been received
when the Company, as servicer, receives notice thereof.
Pool Scheduled Principal Balance: With respect to any
Distribution Date, the aggregate Scheduled Principal
Balance of all the Mortgage Loans that were Outstanding
Mortgage Loans on the Due Date in the month next preceding
the month of such Distribution Date (or, in the case of the
first Distribution Date, the Cut-off Date; or, if so
specified, such other date).
Prepayment Assumption: The assumed fixed schedule of
prepayments on a pool of new mortgage loans with such
schedule given as a monthly sequence of prepayment rates,
expressed as annualized percent values. These values start
at 0.2% per year in the first month, increase by 0.2% per
year in each succeeding month until month 30, ending at
6.0% per year. At such time, the rate remains constant at
6.0% per year for the balance of the remaining term.
Multiples of the Prepayment Assumption are calculated from
this prepayment rate series.
Prepayment Assumption Multiple: 245% of the Prepayment
Assumption.
Prepayment Distribution Trigger: As of any
Distribution Date and as to each Class of Class B
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<PAGE>
Certificates, the related Prepayment Distribution Trigger
is satisfied if (x) the fraction, expressed as a
percentage, the numerator of which is the aggregate Class
Certificate Principal Balance of such Class and each Class
subordinate thereto, if any, on such Distribution Date, and
the denominator of which is the Pool Scheduled Principal
Balance for such Distribution Date, equals or exceeds (y)
such percentage calculated as of the Closing Date.
Prepayment Interest Excess: As to any Voluntary
Principal Prepayment in full received from the first day
through the fifteenth day of any calendar month (other than
the calendar month in which the Cut-off Date occurs), all
amounts paid in respect of interest on such Principal
Prepayment. For purposes of determining the amount of
Prepayment Interest Excess for any month, a Voluntary
Principal Prepayment in full with respect to a Mortgage
Loan serviced by a Primary Servicer shall be deemed to have
been received when the Company, as servicer, receives
notice thereof. All Prepayment Interest Excess shall be
retained by the Company, as servicer, as additional
servicing compensation.
Prepayment Period: With respect to any Distribution
Date and any Voluntary Principal Prepayment in part or
other Principal Prepayment other than a Voluntary Principal
Prepayment in full, the calendar month preceding the month
of such Distribution Date; with respect to any Distribution
Date and any Voluntary Principal Prepayment in full, the
period beginning on the sixteenth day of the calendar month
preceding the month of such Distribution Date (or, in the
case of the first Distribution Date, beginning on the
Cutoff Date) and ending on the fifteenth day of the month
in which such Distribution Date occurs.
Primary Insurance Policy: The certificate of private
mortgage insurance relating to a particular Mortgage Loan,
or an electronic screen print setting forth the information
contained in such certificate of private mortgage
insurance, including, without limitation, information
relating to the name of the mortgage insurance carrier, the
certificate number, the loan amount, the property address,
the effective date of coverage, the amount of coverage and
the expiration date of the policy. Each such policy covers
defaults by the Mortgagor, which coverage shall equal the
portion of the unpaid principal balance of the related
Mortgage Loan that exceeds 75% (or such lesser coverage
required or permitted by FNMA or FHLMC) of the Original
Value of the underlying Mortgaged Property.
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<PAGE>
Primary Servicer: Any servicer with which the Company
has entered into a servicing agreement, as described in
Section 3.01(f).
Principal Balance Schedules: Any principal balance
schedules attached hereto, if applicable, as Exhibit B,
setting forth the PAC Balances of any PAC Certificates and
PAC Components, the TAC Balances of any TAC Certificates
and TAC Components, and the Scheduled Balances of any
Scheduled Certificates and Scheduled Components.
Principal Only Certificate: Any Class PO Certificate.
Principal Only Component: None.
Principal Prepayment: Any payment or other recovery of
principal on a Mortgage Loan (including, for this purpose,
any refinancing permitted by Section 3.01, any Purchase
Price of a Modified Mortgage Loan purchased pursuant to
Section 3.01(c) and any REO Proceeds treated as such
pursuant to Section 3.08(b)) which is received in advance
of its scheduled Due Date and is not accompanied by an
amount of interest representing scheduled interest for any
month subsequent to the month of prepayment.
Private Placement Memorandum: The private placement
memorandum relating to the Restricted Junior Certificates
dated July 28, 1997.
Prohibited Transaction Exemption: U.S. Department of
Labor Prohibited Transaction Exemption 89-90, 54 Fed. Reg.
42597, October 17, 1989.
Property Protection Expenses: With respect to any
Mortgage Loan, expenses paid or incurred by or for the
account of the Company in accordance with the related
Mortgage for (a) real estate property taxes and property
repair, replacement, protection and preservation expenses
and (b) similar expenses reasonably paid or incurred to
preserve or protect the value of such Mortgage to the
extent the Company is not reimbursed therefor pursuant to
the Primary Insurance Policy, if any, or any other
insurance policy with respect thereto.
Purchase Price: With respect to any Mortgage Loan
required or permitted to be purchased hereunder from the
Trust Fund, an amount equal to 100% of the unpaid principal
balance thereof plus interest thereon at the applicable
Mortgage Rate from the date to which interest was last paid
to the first day of the month in which such purchase price
is to be distributed; provided, however, that if the
Company is the servicer hereunder, such purchase price
shall be net
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<PAGE>
of unreimbursed Monthly Advances with respect to such
Mortgage Loan, and the interest component of the Purchase
Price may be computed on the basis of the Net Mortgage Rate
for such Mortgage Loan; and provided, further, that if such
Mortgage Loan is a Modified Mortgage Loan, the interest
component of the Purchase Price shall be computed (i) on
the basis of the applicable Mortgage Rate before giving
effect to the related modification and (ii) from the date
to which interest was last paid to the date on which such
Modified Mortgage Loan is assigned to the Company pursuant
to Section 3.01(c).
QIB: A "qualified institutional buyer" as defined in
Rule 144A under the Securities Act of 1933, as amended.
Rating Agency: Any statistical credit rating agency,
or its successor, that rated any of the Certificates at the
request of the Company at the time of the initial issuance
of the Certificates. If such agency or a successor is no
longer in existence, "Rating Agency" shall be such
statistical credit rating agency, or other comparable
Person, designated by the Company, notice of which
designation shall be given to the Trustee. References
herein to the two highest long-term rating categories of a
Rating Agency shall mean such ratings without any
modifiers. As of the date of the initial issuance of the
Certificates, the Rating Agencies are Fitch and Moody's;
except that for purposes of the Junior Certificates (other
than the Class B5 Certificates), Fitch shall be the sole
Rating Agency. The Class B5 Certificates are issued without
ratings.
Realized Loss: Any (i) Deficient Valuation or (ii) as
to any Liquidated Mortgage Loan, (x) the unpaid principal
balance of such Liquidated Mortgage Loan plus accrued and
unpaid interest thereon at the Net Mortgage Rate through
the last day of the month of such liquidation less (y) the
related Liquidation Proceeds and Insurance Proceeds (as
reduced by the related Liquidation Expenses).
Record Date: The last Business Day of the month
immediately preceding the month of the related Distribution
Date.
Reference Banks: As defined in Section 5.08.
Relief Act: The Soldiers' and Sailors' Civil Relief
Act of 1940, as amended.
Relief Act Mortgage Loan: Any Mortgage Loan as to
which the Monthly Payment thereof has been reduced due to
the application of the Relief Act.
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REMIC: A "real estate mortgage investment conduit"
within the meaning of section 860D of the Code.
REMIC Provisions: Provisions of the federal income tax
law relating to real estate mortgage investment conduits,
which appear at sections 860A through 860G of Part IV of
Subchapter M of Chapter 1 of the Code, and related
provisions, and U.S. Office of the Treasury temporary or
final regulations promulgated thereunder, as the foregoing
may be in effect from time to time, as well as provisions
of applicable state laws.
REO Mortgage Loan: Any Mortgage Loan which is not a
Liquidated Mortgage Loan and as to which the related
Mortgaged Property is held as part of the Trust Fund.
REO Proceeds: Proceeds, net of any related expenses of
the Company, received in respect of any REO Mortgage Loan
(including, without limitation, proceeds from the rental of
the related Mortgaged Property).
Reserve Fund: None.
Reserve Interest Rate: As defined in Section 5.08.
Residual Certificate: Any Class R Certificate.
Responsible Officer: When used with respect to the
Trustee, any officer or assistant officer assigned to and
working in the Corporate Trust Department of the Trustee
and, also, with respect to a particular matter, any other
officer to whom such matter is referred because of such
officer's knowledge of and familiarity with the particular
subject.
Restricted Certificate: Any Restricted Junior
Certificate, Class PO Certificate or Class S Certificate.
Restricted Junior Certificate: Any Class B3, Class B4
or Class B5 Certificate.
S&P: Standard & Poor's Rating Services, a division of
The McGraw-Hill Companies, Inc., and its successors.
SAIF: The Savings Association Insurance Fund of the
FDIC, or its successor in interest.
Scheduled Balance: As to any Distribution Date and any
Class of Scheduled Certificates and any Scheduled
Component, the balance designated as such for such
Distribution Date and such Class or Component as set forth
in the Principal Balance Schedules.
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<PAGE>
Scheduled Certificates: None.
Scheduled Component: None.
Scheduled Principal Balance: As to any Mortgage Loan
and Distribution Date, the principal balance of such
Mortgage Loan as of the Due Date in the month next
preceding the month of such Distribution Date (or, if so
specified, such other date) as specified in the
amortization schedule at the time relating to such Mortgage
Loan (before any adjustment to such amortization schedule
by reason of any bankruptcy or similar proceeding or any
moratorium or similar waiver or grace period) after giving
effect to any previous Principal Prepayments, Deficient
Valuations incurred subsequent to the Bankruptcy Coverage
Termination Date, adjustments due to the application of the
Relief Act and the payment of principal due on such Due
Date, irrespective of any delinquency in payment by the
related Mortgagor. As to any Mortgage Loan and the Cut-off
Date, the "unpaid balance" thereof specified in the initial
Mortgage Loan Schedule.
Senior Certificate: Any Certificate other than a
Junior Certificate or Class S Certificate.
Senior Certificate Principal Balance: As of any
Distribution Date, an amount equal to the sum of the
Certificate Principal Balances of the Senior Certificates
(other than any Class PO Certificates).
Senior Optimal Principal Amount: As to any
Distribution Date, an amount equal to the sum of the
Adjusted Group I Senior Optimal Principal Amount for
such date and the Group II Senior Optimal Principal
Amount for such date.
Senior Percentage: As to any Distribution Date, the
lesser of (i) 100% and (ii) the percentage (carried to six
places rounded up) obtained by dividing the Senior
Certificate Principal Balance immediately prior to such
Distribution Date by an amount equal to the sum of the
Certificate Principal Balances of all the Certificates
other than any Class PO Certificates immediately prior to
such Distribution Date.
Senior Prepayment Percentage: For any Distribution
Date occurring prior to the fifth anniversary of the first
Distribution Date, 100%. For any Distribution Date
occurring on or after the fifth anniversary of the first
Distribution Date, an amount as follows:
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(i) for any Distribution Date subsequent to July 2002
to and including the Distribution Date in July
2003, the Senior Percentage for such Distribution
Date plus 70% of the Junior Percentage for such
Distribution Date;
(ii) for any Distribution Date subsequent to July 2003
to and including the Distribution Date in July
2004, the Senior Percentage for such Distribution
Date plus 60% of the Junior Percentage for such
Distribution Date;
(iii) for any Distribution Date subsequent to July 2004
to and including the Distribution Date in July
2005, the Senior Percentage for such Distribution
Date plus 40% of the Junior Percentage for such
Distribution Date;
(iv) for any Distribution Date subsequent to July 2005
to and including the Distribution Date in July
2006, the Senior Percentage for such Distribution
Date plus 20% of the Junior Percentage for such
Distribution Date; and
(v) for any Distribution Date thereafter, the Senior
Percentage for such Distribution Date.
Notwithstanding the foregoing, (i) if on any Distribution
Date the Senior Percentage exceeds the Senior Percentage as
of the Closing Date, the Senior Prepayment Percentage for
such Distribution Date will equal 100%.
In addition, notwithstanding the foregoing, no reduction of
the Senior Prepayment Percentage below the level in effect
for the most recent prior period as set forth in clauses
(i) through (iv) above shall be effective on any
Distribution Date unless at least one of the following two
tests is satisfied:
Test I: If, as of the last day of the month
preceding such Distribution Date, (i) the aggregate
Scheduled Principal Balance of Mortgage Loans
delinquent 60 days or more (including for this purpose
any Mortgage Loans in foreclosure and REO Mortgage
Loans) as a percentage of the aggregate Class
Certificate Principal Balance of the Junior
Certificates as of such date, does not exceed 50%, and
(ii) cumulative Realized Losses with respect to the
Mortgage Loans do not exceed (a) 30% of the aggregate
Class Certificate Principal Balance of the Junior
Certificates as of the Closing Date (the "Original
Subordinate Principal Balance") if such Distribution
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<PAGE>
Date occurs between and including August 2002 and July
2003, (b) 35% of the Original Subordinate Principal
Balance if such Distribution Date occurs between and
including August 2003 and July 2004, (c) 40% of the
Original Subordinate Principal Balance if such
Distribution Date occurs between and including August
2004 and July 2005, (d) 45% of the Original
Subordinate Principal Balance if such Distribution
Date occurs between and including August 2005 and July
2006 and (e) 50% of the Original Subordinate Principal
Balance if such Distribution Date occurs during or
after April 2006; or
Test II: If, as of the last day of the month
preceding such Distribution Date, (i) the aggregate
Scheduled Principal Balance of Mortgage Loans
delinquent 60 days or more (including for this purpose
any Mortgage Loans in foreclosure and REO Mortgage
Loans) averaged over the last three months, as a
percentage of the aggregate Scheduled Principal
Balance of Mortgage Loans averaged over the last three
months, does not exceed 4%, and (ii) cumulative
Realized Losses with respect to the Mortgage Loans do
not exceed (a) 10% of the Original Subordinate
Principal Balance if such Distribution Date occurs
between and including August 2002 and July 2003, (b)
15% of the Original Subordinate Principal Balance if
such Distribution Date occurs between and including
August 2003 and July 2004, (c) 20% of the Original
Subordinate Principal Balance if such Distribution
Date occurs between and including August 2004 and July
2005, (d) 25% of the Original Subordinate Principal
Balance if such Distribution Date occurs between and
including August 2005 and July 2006, and (e) 30% of
the Original Subordinate Principal Balance if such
Distribution Date occurs during or after August 2006.
Servicer's Certificate: A certificate, completed by
and executed on behalf of the Company by a Servicing
Officer in accordance with Section 4.06, substantially in
the form of Exhibit D hereto or in such other form as the
Company and the Trustee shall agree.
Servicing Fee: As to any Mortgage Loan and
Distribution Date, an amount equal to the product of (i)
the Scheduled Principal Balance of such Mortgage Loan as of
the Due Date in the preceding calendar month and (ii) the
Servicing Fee Rate for such Mortgage Loan.
Servicing Fee Rate: As to any Mortgage Loan, the per
annum rate identified as such for such Mortgage Loan and set
forth in the Mortgage Loan Schedule.
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<PAGE>
Servicing Officer: Any officer of the Company involved
in, or responsible for, the administration and servicing of
the Mortgage Loans whose name appears on a list of
servicing officers attached to an Officer's Certificate
furnished to the Trustee by the Company, as such list may
from time to time be amended.
Single Certificate: A Certificate with an Initial
Certificate Principal Balance, or initial Notional
Principal Balance, of $1,000 or, in the case of a Class of
Certificates issued with an initial Class Certificate
Principal Balance or initial Notional Principal Balance of
less than $1,000, such lesser amount.
Special Hazard Loss: (i) A Realized Loss suffered by a
Mortgaged Property on account of direct physical loss,
exclusive of (a) any loss covered by a hazard policy or a
flood insurance policy required to be maintained in respect
of such Mortgaged Property under Section 3.06 and (b) any
loss caused by or resulting from:
(1) normal wear and tear;
(2) conversion or other dishonest act on the part of
the Trustee, the Company or any of their agents or
employees; or
(3) errors in design, faulty workmanship or faulty
materials, unless the collapse of the property or
a part thereof ensues;
or (ii) any Realized Loss suffered by the Trust Fund
arising from or related to the presence or suspected
presence of hazardous wastes or hazardous substances on a
Mortgaged Property unless such loss to a Mortgaged Property
is covered by a hazard policy or a flood insurance policy
required to be maintained in respect of such Mortgaged
Property under Section 3.06.
Special Hazard Loss Amount: As of any Distribution
Date, an amount equal to $3,502,466 minus the sum of (i)
the aggregate amount of Special Hazard Losses that would
have been allocated to the Junior Certificates in
accordance with Section 4.03 in the absence of the Loss
Allocation Limitation and (ii) the Adjustment Amount (as
defined below) as most recently calculated. On each
anniversary of the Cut-off Date, the "Adjustment Amount"
shall be equal to the amount, if any, by which the amount
calculated in accordance with the preceding sentence
(without giving effect to the deduction of the Adjustment
Amount for such anniversary) exceeds the lesser of (x) the
greater of (A) the product of the Special Hazard Percentage
for such anniversary
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<PAGE>
multiplied by the outstanding principal balance of all the
Mortgage Loans on the Distribution Date immediately
preceding such anniversary and (B) twice the outstanding
principal balance of the Mortgage Loan which has the
largest outstanding principal balance on the Distribution
Date immediately preceding such anniversary, and (y) an
amount calculated by the Company and approved by each
Rating Agency, which amount shall not be less than
$500,000.
Special Hazard Percentage: As of each anniversary of
the Cut-off Date, the greater of (i) 1.00% and (ii) the
largest percentage obtained by dividing (x) the aggregate
outstanding principal balance (as of the immediately
preceding Distribution Date) of the Mortgage Loans secured
by Mortgaged Properties located in a single, five-digit zip
code area in the State of California by (y) the outstanding
principal balance of all the Mortgage Loans as of the
immediately preceding Distribution Date.
Special Hazard Termination Date: The Distribution Date
upon which the Special Hazard Loss Amount has been reduced
to zero or a negative number (or the Cross-Over Date, if
earlier).
Specified Component: None.
Startup Day: As defined in Section 2.06(c).
Strip Rate: With respect to the Class S Certificates
and any Distribution Date, a variable rate per annum equal
to the excess of (x) the weighted average (by Scheduled
Principal Balance) carried to six decimal places, rounded
down, of the Net Mortgage Rates of the Outstanding
Non-Discount Mortgage Loans as of the Due Date in the
preceding calendar month (or the Cut-off Date, in the case
of the first Distribution Date) over (y) 7.50%; provided,
however, that such calculation shall not include any
Mortgage Loan that was the subject of a Voluntary Principal
Prepayment in full received by the Company (or of which the
Company received notice, in the case of a Mortgage Loan
serviced by a Primary Servicer) on or after the first day
but on or before the 15th day of such preceding calendar
month.
Subordinate Certificates: As to any date of
determination, first, the Class B5 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero; second, the Class B4 Certificates until
the Class Certificate Principal Balance thereof has been
reduced to zero; third, the Class B3 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero; fourth, the Class B2 Certificates until
the Class Certificate Principal Balance thereof has been
reduced to
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zero; fifth, the Class B1 Certificates until the Class
Certificate Principal Balance thereof has been reduced to
zero; and sixth, the Class M Certificates until the Class
Certificate Principal Balance thereof has been reduced to
zero.
Subordinate Certificate Writedown Amount: As to any
Distribution Date, first, any amount distributed to the
Class PO Certificates on such Distribution Date pursuant to
Section 4.01(a)(iv) and second, after giving effect to the
application of clause first above, the amount by which (i)
the sum of the Class Certificate Principal Balances of all
the Certificates (after giving effect to the distribution
of principal and the application of Realized Losses in
reduction of the Certificate Principal Balances of the
related Certificates on such Distribution Date) exceeds
(ii) the Pool Scheduled Principal Balance on the first day
of the month of such Distribution Date less any Deficient
Valuations occurring on or prior to the Bankruptcy Coverage
Termination Date.
Substitution Amount: With respect to any Mortgage Loan
substituted pursuant to Section 2.03(b), the excess of (x)
the Scheduled Principal Balance of the Mortgage Loan that
is substituted for, over (y) the Scheduled Principal
Balance of the related substitute Mortgage Loan, each
balance being determined as of the date of substitution.
TAC Balance: As to any Distribution Date and any Class
of TAC Certificates and any TAC Component, the balance
designated as such for such Distribution Date and such
Class or Component as set forth in the Principal Balance
Schedules.
TAC Certificates: None.
TAC Component: None.
Trigger Event: Any one or more of the following: (i)
if the Company is not a wholly-owned direct or indirect
subsidiary of General Electric Company or if General
Electric Capital Corporation shall not own (directly or
indirectly) at least two-thirds of the voting shares of the
capital stock of the Company, (ii) if the long-term senior
unsecured rating of General Electric Capital Corporation is
downgraded or withdrawn by Fitch or Moody's below their two
highest rating categories, (iii) if General Electric
Capital Corporation is no longer obligated pursuant to the
terms of the support agreement, dated as of October 1,
1990, between General Electric Capital Corporation and the
Company, to maintain the Company's net worth or liquidity
(as such terms are defined therein) at the levels specified
therein, or if
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such support agreement, including any amendment thereto,
has been breached, terminated or otherwise held to be
unenforceable and (iv) if such support agreement, including
any amendment thereto, is amended or modified.
Trust Fund: The corpus of the trust created by this
Agreement evidenced by the Certificates and consisting of:
(i) the Mortgage Loans;
(ii) all payments on or collections in respect of
such Mortgage Loans, except as otherwise described in
the first paragraph of Section 2.01;
(iii) the obligation of the Company to deposit in
the Certificate Account the amounts required by
Sections 3.02(d), 3.02(e) and 4.04(a), and the
obligation of the Trustee to deposit in the
Certificate Account any amount required pursuant to
Section 4.04(b);
(iv) the obligation of the Company to purchase or
replace any Defective Mortgage Loan pursuant to Section
2.02 or 2.03;
(v) the obligation of the Company to purchase any
Modified Mortgage Loan pursuant to Section 3.01(c);
(vi) all property acquired by foreclosure or deed
in lieu of foreclosure with respect to any REO Mortgage
Loan;
(vii) the proceeds of the Primary Insurance
Policies, if any, and the hazard insurance policies
required by Section 3.06, in each case, in respect of
the Mortgage Loans;
(viii) the Certificate Account established pursuant
to Section 3.02(d);
(ix) the Eligible Account or Accounts, if any,
established pursuant to Section 3.02(e); and
(x) any collateral funds established to secure
the obligations of the Holder of the Class B4 and
Class B5 Certificates, respectively, under any
agreements entered into between such holder and the
Company pursuant to Section 3.08(e).
Trustee: The institution executing this Agreement as
Trustee, or its successor in interest, or if any successor
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trustee is appointed as herein provided, then such successor
trustee so appointed.
Uninsured Cause: Any cause of damage to property
subject to a Mortgage such that the complete restoration of
the property is not fully reimbursable by the hazard
insurance policies required to be maintained pursuant to
Section 3.06.
Unpaid Class Interest Shortfall: As to any
Distribution Date and any Class of Certificates (other than
any Class of Principal Only Certificates and any Class
consisting of Specified Components) or any Specified
Component (other than any Principal Only Component), the
amount, if any, by which the aggregate of the Class
Interest Shortfalls for such Class or in respect of such
Specified Component for prior Distribution Dates is in
excess of the aggregate amounts distributed on prior
Distribution Dates to Holders of such Class of Certificates
or in respect of such Specified Component (or added to the
Class Certificate Principal Balance of any Class of Accrual
Certificates, or to the Component Principal Balance of any
Accrual Component constituting a Specified Component)
pursuant to Section 4.01(a)(ii), in the case of the Senior
Certificates and any Specified Component thereof (other
than any Principal Only Component), and the Class S
Certificates, Section 4.01(a)(vi), in the case of the Class
M Certificates, Section 4.01(a)(ix), in the case of the
Class B1 Certificates, Section 4.01(a)(xii), in the case of
the Class B2 Certificates, Section 4.01(a)(xv), in the case
of the Class B3 Certificates, Section 4.01(a)(xviii), in
the case of the Class B4 Certificates, and Section
4.01(a)(xxi), in the case of the Class B5 Certificates. As
to any Class of Certificates consisting of Specified
Components and any Distribution Date, the sum of the Unpaid
Class Interest Shortfalls for the Specified Components
thereof on such date.
Voluntary Principal Prepayment: With respect to any
Distribution Date, any prepayment of principal received from
the related Mortgagor on a Mortgage Loan (including the
Purchase Price of any Modified Mortgage Loan purchased
pursuant to Section 3.01(c)).
Voting Rights: The portion of the voting rights of all
the Certificates that is allocated to any Certificate for
purposes of the voting provisions of Section 10.01. At all
times during the term of this Agreement, 99% of all Voting
Rights shall be allocated to the Certificates other than
the Class S Certificates, and 1% of all Voting Rights shall
be allocated to the Class S Certificates. Voting Rights
allocated to the Class S Certificates shall be allocated
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among the Certificates of such Class in proportion to their
Notional Principal Balances. Voting Rights allocated to the
other Classes of Certificates shall be allocated among such
Classes (and among the Certificates within each such Class)
in proportion to their Class Certificate Principal Balances
(or Certificate Principal Balances), as the case may be.
ARTICLE II
CONVEYANCE OF MORTGAGE LOANS;
ORIGINAL ISSUANCE OF CERTIFICATES
Section 2.01. Conveyance of Mortgage Loans. The
Company, concurrently with the execution and delivery of this
Agreement, does hereby transfer, assign, set-over and otherwise
convey to the Trustee without recourse (except as provided
herein) all the right, title and interest of the Company in and
to the Mortgage Loans, including all interest and principal
received by the Company on or with respect to the Mortgage Loans
(other than payments of principal and interest due and payable on
the Mortgage Loans on or before, and all Principal Prepayments
received before, the Cut-off Date).
In connection with such transfer and assignment, the
Company does hereby deliver to the Trustee the following
documents or instruments with respect to each Mortgage Loan
(other than any Designated Loan) so transferred and assigned:
(i) The Mortgage Note, endorsed without recourse in
blank by the Company, including all intervening
endorsements showing a complete chain of endorsement from
the originator to the Company; provided, however, that if
such Mortgage Note is a Confirmatory Mortgage Note, such
Confirmatory Mortgage Note may be payable directly to the
Company or may show a complete chain of endorsement from
the named payee to the Company;
(ii) Any assumption and modification agreement; and
(iii) An assignment in recordable form (which may be
included in a blanket assignment or assignments) of the
Mortgage to the Trustee.
With respect to each Designated Loan, the Company does hereby
deliver to the Trustee the Designated Loan Closing Documents.
In instances where a completed assignment of the
Mortgage in recordable form cannot be delivered by the Company to
the Trustee prior to or concurrently with the execution and
delivery of this Agreement, due to a delay in connection with
recording of the Mortgage, the Company may, in lieu of delivering
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the completed assignment in recordable form, deliver to the
Trustee the assignment in such form, otherwise complete except
for recording information.
With respect to each Designated Loan, within 45 days
of the Closing Date the Company shall deliver to the Trustee
either (a) the documents referred to in clauses (i) and (ii) of
the second preceding paragraph, provided that if the Company
cannot locate such documents in the form initially executed by
the Mortgagor and the obligor under any assumption and
modification agreement, then it shall use reasonable efforts to
obtain, and may deliver, new documents executed by such parties
evidencing their obligations under the initial documents or (b)
an Opinion of Counsel satisfactory to the Trustee from counsel
admitted to practice in the jurisdiction in which the related
Mortgaged Property is located to the effect that the absence of
the original Mortgage Note or assumption and modification
agreement, as the case may be, will not preclude the Company as
servicer from initiating or prosecuting to completion any
foreclosure proceeding with respect to such Mortgaged Property.
If such documents are not so delivered within 45 days of the
Closing Date, the Company will use its best reasonable efforts
(and the Trustee will have no obligation to inquire as to such
efforts) to substitute another Mortgage Loan for such Designated
Loan on the next succeeding Distribution Date pursuant to Section
2.03(b). If the Company is unable to effect such substitution, it
shall repurchase such Designated Loan on such Distribution Date
pursuant to Section 2.03(a).
In connection with each Mortgage Loan transferred and
assigned to the Trustee, the Company shall deliver to the Trustee
the following documents or instruments as promptly as
practicable, but in any event within 30 days, after receipt by
the Company of all such documents and instruments for all of the
outstanding Mortgage Loans:
(i) the Mortgage with evidence of recording indicated
thereon;
(ii) a copy of the title insurance policy; and
(iii) with respect to any Mortgage that has been
assigned to the Company, the related recorded intervening
assignment or assignments of Mortgage, showing a complete
chain of assignment from the originator to the Company.
Pending such delivery, the Company shall retain in its files (a)
copies of the documents described in clauses (i) and (iii) of the
preceding sentence, without evidence of recording thereon, and
(b) title insurance binders with respect to the Mortgage Loans.
The Company shall also retain in its files evidence of any
primary mortgage insurance relating to the Mortgage Loans during
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the period when the related insurance is in force. Pending
delivery of the documents referred to in the second preceding
sentence, such evidence of primary mortgage insurance shall
include a copy of the relevant Primary Insurance Policy. (The
copies of the Mortgage, intervening assignments of Mortgage, if
any, title insurance binder and the Primary Insurance Policy, if
any, described in the second and third preceding sentences are
collectively referred to herein as the "Document File" with
respect to each Mortgage Loan.) The Company shall advise the
Trustee in writing if such delivery to the Trustee shall not have
occurred on or before the first anniversary of the Closing Date.
The Company shall promptly furnish to the Trustee the documents
included in the Document Files (other than any such documents
previously delivered to the Trustee as originals or copies)
either (a) upon the written request of the Trustee or (b) when
the Company or the Trustee obtains actual notice or knowledge of
a Trigger Event. The Trustee shall have no obligation to request
delivery of the Document Files unless a Responsible Officer of
the Trustee has actual notice or knowledge of the occurrence of a
Trigger Event.
In the case of Mortgage Loans which have been prepaid
in full after the Cut-off Date and prior to the date of execution
and delivery of this Agreement, the Company, in lieu of
delivering the above documents to the Trustee, herewith delivers
to the Trustee a certification of a Servicing Officer of the
nature set forth in Section 3.09.
The Company shall not be required to record the
assignments of the Mortgages to the Trustee unless the Company or
the Trustee obtains actual notice or knowledge of the occurrence
of any Trigger Event; provided, however, that such recording
shall not be required if the Company delivers to the Trustee a
letter from each Rating Agency to the effect that the failure to
take such action will not cause such Rating Agency to reduce or
withdraw its then current ratings of the Certificates. The party
obtaining actual notice or knowledge of any of such events shall
give the other party prompt written notice thereof. For purposes
of the foregoing (as well as for purposes of determining whether
the Company shall be required to deliver the Document Files to
the Trustee following the occurrence of a Trigger Event), the
Company shall be deemed to have knowledge of any such downgrading
referred to in the definition of Trigger Event if, in the
exercise of reasonable diligence, the Company has or should have
had knowledge thereof. As promptly as practicable subsequent to
the Company's delivery or receipt of such written notice, as the
case may be, the Company shall insert the recording information
in the assignments of the Mortgages to the Trustee and shall
cause the same to be recorded, at the Company's expense, in the
appropriate public office for real property records, except that
the Company need not cause to be so completed and recorded any
assignment which relates to a Mortgage Loan secured by property
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in a jurisdiction under the laws of which, on the basis of an
Opinion of Counsel reasonably satisfactory to the Trustee and
satisfactory to each Rating Agency (as evidenced in writing),
recordation of such assignment is not necessary to protect the
Trustee against discharge of such Mortgage Loan by the Company or
any valid assertion that any Person other than the Trustee has
title to or any rights in such Mortgage Loan. In the event that
the Company fails or refuses to record the assignment of
Mortgages in the circumstances provided above, the Trustee shall
record or cause to be recorded such assignment at the expense of
the Company. In connection with the recording of any such
assignment, the Company shall furnish such documents as may be
reasonably necessary to accomplish such recording.
Notwithstanding the foregoing, at any time the Company may
record, or cause to be recorded, the assignments of Mortgages at
the expense of the Company.
Section 2.02. Acceptance by Trustee. Subject to the
examination hereinafter provided, the Trustee acknowledges
receipt of the Mortgage Notes, the assignments of the Mortgages
to the Trustee, the assumption and modification agreements, if
any, and the Designated Loan Closing Documents, if any, delivered
pursuant to Section 2.01, and declares that the Trustee holds and
will hold such documents and each other document delivered to it
pursuant to Section 2.01 in trust, upon the trusts herein set
forth, for the use and benefit of all present and future
Certificateholders. The Trustee agrees, for the benefit of
Certificateholders, to review each Mortgage File within 45 days
after (i) the execution and delivery of this Agreement, in the
case of the Mortgage Notes, the assignments of the Mortgages to
the Trustee, the assumption and modification agreements, if any,
and the Designated Loan Closing Documents, if any, (ii) delivery
to the Trustee after the Closing Date of (x) the Mortgage Notes
and the assumption and modification agreements, if any, or (y) an
Opinion of Counsel described in the fourth paragraph of Section
2.01, as applicable, with respect to each Designated Loan, and
(iii) delivery of the recorded Mortgages, title insurance
policies and recorded intervening assignments of Mortgage, if
any, to ascertain that all required documents set forth in
Section 2.01 have been executed, received and recorded, if
applicable, and that such documents relate to the Mortgage Loans
identified in Exhibit C hereto. In performing such examination,
the Trustee may conclusively assume the due execution and
genuineness of any such document and the genuineness of any
signature thereon. It is understood that the scope of the
Trustee's examination of the Mortgage Files is limited solely to
confirming, after receipt of the documents listed in Section
2.01, that such documents have been executed, received and
recorded, if applicable, and relate to the Mortgage Loans
identified in Exhibit C to this Agreement. If in the course of
such review the Trustee finds (1) that any document required to
be delivered as aforesaid has not been delivered, or (2) any such
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document has been mutilated, defaced or physically altered
without the borrower's authorization or approval, or (3) based
upon its examination of such documents, the information with
respect to any Mortgage Loan set forth on Exhibit C is not
accurate, the Trustee shall promptly so notify the Company in
writing, which shall have a period of 60 days after receipt of
such notice to correct or cure any such defect. The Company
hereby covenants and agrees that, if any such material defect
cannot be corrected or cured, the Company will on a Distribution
Date which is not later than the first Distribution Date which is
more than ten days after the end of such 60-day period repurchase
the related Mortgage Loan from the Trustee at the Purchase Price
therefor or replace such Mortgage Loan pursuant to Section
2.03(b); provided, however, that if the defect (or breach
pursuant to Section 2.03(a)) is one that, had it been discovered
before the Startup Day, would have prevented the Mortgage Loan
from being a "qualified mortgage" within the meaning of the REMIC
Provisions, such defect or breach shall be cured, or the related
Mortgage Loan shall be repurchased or replaced, on a Distribution
Date which falls within 90 days of the date of discovery of such
defect or breach. The Purchase Price for the repurchased Mortgage
Loan, or any amount required in respect of a substitution
pursuant to Section 2.03(b), shall be deposited by the Company in
the Certificate Account pursuant to Section 3.02(d) on the
Business Day prior to the applicable Distribution Date and, upon
receipt by the Trustee of written notification of such deposit
signed by a Servicing Officer, the Trustee shall release or cause
to be released to the Company the related Mortgage File and shall
execute and deliver or cause to be executed and delivered such
instruments of transfer or assignment, in each case without
recourse, as shall be necessary to vest in the Company any
Mortgage Loan released pursuant hereto. It is understood and
agreed that the obligation of the Company to repurchase or
replace any Mortgage Loan as to which a material defect in a
constituent document exists shall constitute the sole remedy
respecting such defect available to Certificateholders or the
Trustee on behalf of Certificateholders.
Upon receipt by the Trustee of the Mortgage Note with
respect to a Designated Loan that is not defective in accordance
with the fifth sentence of the preceding paragraph, the related
Lost Note Affidavit delivered pursuant to Section 2.01 shall be
void and the Trustee shall return it to the Company.
Section 2.03. Representations and Warranties of the
Company; Mortgage Loan Repurchase. (a) The Company hereby
represents and warrants to the Trustee that:
(i) The information set forth in Exhibit C hereto was
true and correct in all material respects at the date or
dates respecting which such information is furnished;
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(ii) As of the date of the initial issuance of the
Certificates, each Mortgage is a valid and enforceable
first lien on the property securing the related Mortgage
Note subject only to (a) the lien of current real property
taxes and assessments, (b) covenants, conditions and
restrictions, rights of way, easements and other matters of
public record as of the date of recording of such Mortgage,
such exceptions appearing of record being acceptable to
mortgage lending institutions generally in the area wherein
the property subject to the Mortgage is located or
specifically reflected in the appraisal obtained in
connection with the origination of the related Mortgage
Loan obtained by the Company and (c) other matters to which
like properties are commonly subject which do not
materially interfere with the benefits of the security
intended to be provided by such Mortgage;
(iii) Immediately prior to the transfer and assignment
herein contemplated, the Company had good title to, and was
the sole owner of, each Mortgage Loan and all action had
been taken to obtain good record title to each related
Mortgage. Each Mortgage Loan has been transferred free and
clear of any liens, claims and encumbrances;
(iv) As of the date of the initial issuance of the
Certificates, no payment of principal of or interest on or
in respect of any Mortgage Loan is 30 or more days past due
and none of the Mortgage Loans have been past due 30 or
more days more than once during the preceding 12 months;
(v) As of the date of the initial issuance of the
Certificates, there is no mechanics' lien or claim for
work, labor or material affecting the premises subject to
any Mortgage which is or may be a lien prior to, or equal
or coordinate with, the lien of such Mortgage except those
which are insured against by the title insurance policy
referred to in (x) below;
(vi) As of the date of the initial issuance of the
Certificates, there is no delinquent tax or assessment lien
against the property subject to any Mortgage;
(vii) As of the date of the initial issuance of the
Certificates, there is no valid offset, defense or
counterclaim to any Mortgage Note or Mortgage, including
the obligation of the Mortgagor to pay the unpaid principal
and interest on such Mortgage Note;
(viii) As of the date of the initial issuance of the
Certificates, the physical property subject to any Mortgage
is free of material damage and is in good repair;
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(ix) Each Mortgage Loan at the time it was made
complied in all material respects with applicable state and
federal laws, including, without limitation, usury, equal
credit opportunity and disclosure laws;
(x) A lender's title insurance policy or binder, or
other assurance of title insurance customary in the
relevant jurisdiction therefor, in either case, in a form
acceptable to FNMA or FHLMC, was issued on the date of the
origination of each Mortgage Loan and each such policy or
binder is valid and remains in full force and effect;
(xi) The original principal amount of each Mortgage
Note was not more than 95.25% of the Original Value; as of
the Cut-off Date, no more than 27.25% of the Mortgage Loans
by Scheduled Principal Balance had original principal
amounts of more than 80% of the Original Value and each
Mortgage Note having an original principal amount in excess
of 80% of the Original Value is covered by a Primary
Insurance Policy so long as its then outstanding principal
amount exceeds 80% of the greater of (a) the Original Value
and (b) the then current value of the related Mortgaged
Property as evidenced by an appraisal thereof satisfactory
to the Company. Each Primary Insurance Policy is issued by
a private mortgage insurer acceptable to FNMA or FHLMC;
(xii) Each Mortgage Note is payable on the first day of
each month in self-amortizing monthly installments of
principal and interest, with interest payable in arrears,
over an original term of not more than thirty years. The
Mortgage Rate of each Mortgage Note of the related Mortgage
Loan was not less than 6.875% per annum and not greater
than 10.500% per annum. The Mortgage Rate of each Mortgage
Note is fixed for the life of the related Mortgage Loan;
(xiii) The improvements on the Mortgaged Properties are
insured against loss under a hazard insurance policy with
extended coverage and conforming to the requirements of
Section 3.06 hereof. As of the date of initial issuance of
the Certificates, all such insurance policies are in full
force and effect;
(xiv) As of the Cut-off Date, no more than 16.75% of the
Mortgage Loans by Scheduled Principal Balance had a
Scheduled Principal Balance of more than $400,000;
(xv) As of the Cut-off Date, no more than 1.00% of the
Mortgage Loans by Scheduled Principal Balance are secured
by Mortgaged Properties located in any one postal zip code
area;
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(xvi) As of the Cut-off Date, at least 98.00% of the
Mortgage Loans by Scheduled Principal Balance are secured
by Mortgaged Properties determined by the Company to be the
primary residence of the Mortgagor. The basis for such
determination is the making of a representation by the
Mortgagor at origination that he or she intends to occupy
the underlying property;
(xvii) As of the Cut-off Date, at least 94.75% of the
Mortgage Loans by Scheduled Principal Balance are secured
by one-family detached residences;
(xviii) As of the Cut-off Date, no more than 3.00% of the
Mortgage Loans by Scheduled Principal Balance are secured
by condominiums and, as of the Cut-off Date, no more than
1.00% of the Mortgage Loans by Scheduled Principal Balance
are secured by two- to four-family residential properties.
As to each condominium or related Mortgage Loan, (a) the
related condominium is in a project that is on the FNMA or
FHLMC approved list, (b) the related condominium is in a
project that, upon submission of appropriate application,
could be so approved by either FNMA or FHLMC, (c) the
related Mortgage Loan meets the requirements for purchase
by FNMA or FHLMC, (d) the related Mortgage Loan is of the
type that could be approved for purchase by FNMA or FHLMC
but for the principal balance of the related Mortgage Loan
or the pre-sale requirements or (e) the related Mortgage
Loan has been approved by a nationally recognized mortgage
pool insurance company for coverage under a mortgage pool
insurance policy issued by such insurer. As of the Cut-off
Date, no more than 0.25% of the Mortgage Loans by Scheduled
Principal Balance are secured by condominiums located in
any one postal zip code area;
(xix) No Mortgage Loan is secured by a leasehold
interest in the related Mortgaged Property, and each
Mortgagor holds fee title to the related Mortgaged
Property;
(xx) As of the Cut-off Date, no more than 1.25% of the
Mortgage Loans by Scheduled Principal Balance constituted
Buydown Mortgage Loans. The maximum Buydown Period for any
Buydown Mortgage Loan is three years, and the maximum
difference between the stated Mortgage Rate of any Buydown
Mortgage Loan and the rate paid by the related Mortgagor is
three percentage points. Each Buydown Mortgage Loan has
been fully funded;
(xxi) The original principal balances of the Mortgage
Loans range from $36,000 to $744,000;
(xxii) As of the Cut-off Date, no more than 1.50% of the
Mortgage Loans by Scheduled Principal Balance are secured by
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second homes, no more than 0.50% of the Mortgage Loans by
Scheduled Principal Balance are secured by investor-owned
properties;
(xxiii) All appraisals are on forms acceptable to either
FNMA or FHLMC, including information regarding three
comparable properties;
(xxiv) No selection procedures, other than those
necessary to comply with the representations and warranties
set forth herein or the description of the Mortgage Loans
made in any disclosure document delivered to prospective
investors in the Certificates, have been utilized in
selecting the Mortgage Loans from the Company's portfolio
which would be adverse to the interests of the
Certificateholders;
(xxv) To the best of the Company's knowledge, at
origination no improvement located on or being part of a
Mortgaged Property was in violation of any applicable
zoning and subdivision laws and ordinances;
(xxvi) None of the Mortgage Loans is a temporary
construction loan. With respect to any Mortgaged Property
which constitutes new construction, the related
construction has been completed substantially in accordance
with the specifications therefor and any incomplete aspect
of such construction shall not be material or interfere
with the habitability or legal occupancy of the Mortgaged
Property. Mortgage Loan amounts sufficient to effect any
such completion are in escrow for release upon or in
connection with such completion or a performance bond or
completion bond is in place to provide funds for this
purpose and such completion shall be accomplished within
120 days after weather conditions permit the commencement
thereof;
(xxvii) As of the Closing Date, each Mortgage Loan is a
"qualified mortgage" as defined in Section 860G(a)(3) of the
Code; and
(xxviii) As of the Closing Date, the Company possesses the
Document File with respect to each Mortgage Loan, and the
related Mortgages and intervening assignment or assignments
of Mortgages, if any, have been delivered to a title
insurance company for recording.
It is understood and agreed that the representations
and warranties set forth in this Section 2.03(a) shall survive
delivery of the respective Mortgage Files to the Trustee. Upon
discovery by either the Company or the Trustee of a breach of any
of the foregoing representations and warranties which materially
and adversely affects the interests of the Certificateholders in
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the related Mortgage Loan, the party discovering such breach
shall give prompt written notice to the other. Subject to the
following sentence, within 60 days of its discovery or its
receipt of notice of breach, or, with the prior written consent
of a Responsible Officer of the Trustee, such longer period
specified in such consent, the Company shall cure such breach in
all material respects or shall repurchase such Mortgage Loan from
the Trustee or replace such Mortgage Loan pursuant to Section
2.03(b). Any such repurchase by the Company shall be accomplished
in the manner set forth in Section 2.02, subject to the proviso
of the third-to-last sentence thereof, and at the Purchase Price.
It is understood and agreed that the obligation of the Company to
repurchase or replace any Mortgage Loan as to which a breach
occurred and is continuing shall constitute the sole remedy
respecting such breach available to Certificateholders or the
Trustee on behalf of Certificateholders and such obligation of
the Company to repurchase or replace any such Mortgage Loan shall
not be assumed by any Person which may succeed the Company as
servicer hereunder, but shall continue as an obligation of the
Company. Notwithstanding the preceding sentence, if a breach of
the representation and warranty of the Company contained in
Section 2.03(a)(ix) occurs as a result of a violation of the
federal Truth in Lending Act, 15 U.S.C. ss. 1601 et seq., as
amended ("TILA") or any state truth-in lending or similar
statute, and the Trustee or the Trust Fund is named as a
defendant in a TILA suit or a suit under any such statutes in
respect of such violation and liability in respect thereof is
imposed upon the Trustee or the Trust Fund as assignees of the
related Mortgage Loan pursuant to Section 1641 of TILA, or any
analogous provision of any such statute, the Company shall
indemnify the Trustee and the Trust Fund from, and hold them
harmless against, any and all losses, liabilities, damages,
claims or expenses (including reasonable attorneys' fees) to
which the Trustee and the Trust Fund, or either of them, become
subject pursuant to TILA or any such statute, insofar as such
losses, damages, claims or expenses (including reasonable
attorneys' fees) result from such violation. The Company's
obligations under the preceding sentence shall not impair or
derogate from the Company's obligations to the Trustee under
Section 8.05.
(b) If the Company is required to repurchase any
Mortgage Loan pursuant to Section 2.02 or 2.03(a), the Company
may, at its option, within the applicable time period specified
in such respective Sections, remove such Defective Mortgage Loan
from the terms of this Agreement and substitute one or more other
mortgage loans for such Defective Mortgage Loan, in lieu of
repurchasing such Defective Mortgage Loan, provided that no such
substitution shall occur more than two years after the Closing
Date. Any substitute Mortgage Loan shall (a) have a Scheduled
Principal Balance (together with that of any other Mortgage Loan
substituted for the same Defective Mortgage Loan) as of the first
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Distribution Date following the month of substitution not in
excess of the Scheduled Principal Balance of the Defective
Mortgage Loan as of such date (the amount of any difference, plus
one month's interest thereon at the respective Net Mortgage Rate,
to be deposited by the Company in the Certificate Account
pursuant to Section 2.02), (b) have a Mortgage Rate not less
than, and not more than one percentage point greater than, the
Mortgage Rate of the Defective Mortgage Loan, (c) have the same
Net Mortgage Rate as the Defective Mortgage Loan, (d) have a
remaining term to stated maturity not later than, and not more
than one year less than, the remaining term to stated maturity of
the Defective Mortgage Loan, (e) be, in the reasonable
determination of the Company, of the same type, quality and
character as the Defective Mortgage Loan as if the defect or
breach had not occurred, (f) have a ratio of its current
principal amount to its Original Value not greater than that of
the removed Mortgage Loan and (g) be, in the reasonable
determination of the Company, in compliance with the
representations and warranties contained in Section 2.03(a) as of
the date of substitution.
The Company shall amend the Mortgage Loan Schedule to
reflect the withdrawal of any Defective Mortgage Loan and the
substitution of a substitute Mortgage Loan therefor. Upon such
amendment the Company shall be deemed to have made as to such
substitute Mortgage Loan the representations and warranties set
forth in Section 2.03(a) as of the date of such substitution,
which shall be continuing as long as any Certificate shall be
outstanding or this Agreement has not been terminated, and the
remedies for breach of any such representation or warranty shall
be as set forth in Section 2.03(a). Upon such amendment, the
Trustee shall review the Mortgage File delivered to it relating
to the substitute Mortgage Loan, within the time and in the
manner and with the remedies specified in Section 2.02, except
that for purposes of this Section 2.03(b) (other than the
two-year period specified in the first sentence of the preceding
paragraph of this Section 2.03(b)), such time shall be measured
from the date of the applicable substitution.
Section 2.04. Execution of Certificates. The Trustee
has caused to be executed, countersigned and delivered to or upon
the order of the Company, in exchange for the Mortgage Loans, the
Certificates in authorized denominations evidencing the entire
ownership of the Trust Fund.
Section 2.05. Designations under the REMIC Provisions.
(a) The Company hereby designates the Classes of Certificates
identified in Section 5.01(b), other than the Residual
Certificates, as "regular interests," and the Class R Certificate
as the single class of "residual interests," in the REMIC
established hereunder for purposes of the REMIC Provisions.
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(b) The Closing Date will be the "Startup Day" for the
REMIC established hereunder for purposes of the REMIC Provisions.
(c) The "tax matters person" with respect to the REMIC
established hereunder for purposes of the REMIC Provisions shall
be (i) the Company, if the Company is the owner of a Class R
Certificate, or (ii) in any other case, the beneficial owner of
the Class R Certificate having the largest Percentage Interest of
such Class; provided, however, that such largest beneficial owner
and, to the extent relevant, each other holder of a Class R
Certificate, by its acceptance thereof irrevocably appoints the
Company as its agent and attorney-in-fact to act as "tax matters
person" with respect to the REMIC established hereunder for
purposes of the REMIC Provisions.
(d) The "latest possible maturity date" of the regular
interests in the REMIC established hereunder is the Latest
Possible Maturity Date for purposes of section 860G(a)(1) of the
Code.
(e) In no event shall the assets described in clause
(x) of the definition of the term Trust Fund constitute a part of
the REMIC established hereunder.
ARTICLE III
ADMINISTRATION AND SERVICING
OF MORTGAGE LOANS
Section 3.01. Company to Act as Servicer. (a) It is
intended that the REMIC established hereunder shall constitute,
and that the affairs of the REMIC shall be conducted so as to
qualify the Trust Fund (other than any collateral fund
established under the agreement referred to in Section 3.08(e)),
as a "real estate mortgage investment conduit" as defined in and
in accordance with the REMIC Provisions. In furtherance of such
intention, the Company covenants and agrees that it shall act as
agent (and the Company is hereby appointed to act as agent) on
behalf of the Trust Fund and the Holders of the Residual
Certificates and that in such capacity it shall:
(i) prepare and file, or cause to be prepared and
filed, in a timely manner, a U.S. Real Estate Mortgage
Investment Conduit Income Tax Return (Form 1066) and
prepare and file or cause to be prepared and filed with the
Internal Revenue Service and applicable state or local tax
authorities income tax or information returns for each
taxable year with respect to the REMIC established
hereunder, using the calendar year as the taxable year and
the accrual method of accounting, containing such
information and at the times and in the manner as may be
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required by the Code or state or local tax laws,
regulations, or rules, and shall furnish or cause to be
furnished to Certificateholders the schedules, statements
or information at such times and in such manner as may be
required thereby;
(ii) within thirty days of the Closing Date, shall
furnish or cause to be furnished to the Internal Revenue
Service, on Form 8811 or as otherwise may be required by
the Code, the name, title, address, and telephone number of
the person that the holders of the Certificates may contact
for tax information relating thereto (and the Company shall
act as the representative of the REMIC established
hereunder for this purpose), together with such additional
information as may be required by such Form, and shall
update such information at the time or times and in the
manner required by the Code;
(iii) make or cause to be made an election, on behalf of
the REMIC established hereunder, to be treated as a REMIC,
and make the appropriate designations, if applicable, in
accordance with Section 2.05 hereof on the federal tax
return of the Trust Fund for its first taxable year (and,
if necessary, under applicable state law);
(iv) prepare and forward, or cause to be prepared and
forwarded, to the Certificateholders and to the Internal
Revenue Service and, if necessary, state tax authorities,
all information returns or reports, or furnish or cause to
be furnished by telephone, mail, publication or other
appropriate method such information, as and when required
to be provided to them in accordance with the REMIC
Provisions, including without limitation, the calculation
of any original issue discount using the Prepayment
Assumption Multiple;
(v) provide information necessary for the computation
of tax imposed on the transfer of a Residual Certificate to
a Disqualified Organization, or an agent (including a
broker, nominee or other middleman) of a Disqualified
Organization, or a pass-through entity in which a
Disqualified Organization is the record holder of an
interest (the reasonable cost of computing and furnishing
such information may be charged to the Person liable for
such tax);
(vi) use its best reasonable efforts to conduct the
affairs of the REMIC established hereunder at all times
that any Certificates are outstanding so as to maintain the
status thereof as a REMIC under the REMIC Provisions;
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(vii) not knowingly or intentionally take any action or
omit to take any action that would cause the termination of
the REMIC status of the REMIC or that would subject the
Trust Fund to tax, except for taxes for which the Company
is required to indemnify the REMIC pursuant to Section
3.01(c);
(viii) exercise reasonable care not to allow the creation
of any "interests" in the REMIC within the meaning of
section 860D(a)(2) of the Code other than the interests
represented by the Classes of Certificates identified in
Section 5.01(b);
(ix) exercise reasonable care not to allow the
occurrence of any "prohibited transactions" within the
meaning of section 860F of the Code, unless (1) the Company
shall have provided an Opinion of Counsel to the Trustee
that such occurrence would not (a) result in a taxable
gain, (b) otherwise subject the Trust Fund to tax, or (c)
cause the REMIC established hereunder to fail to qualify as
a REMIC or (2) such "prohibited transactions" arise from
the modification, holding or purchase of a Modified
Mortgage Loan pursuant to Section 3.01(c);
(x) exercise reasonable care not to allow the Trust
Fund to receive income from the performance of services or
from assets not permitted under the REMIC Provisions to be
held by a REMIC, except such as may arise from the
modification, holding or purchase of a Modified Mortgage
Loan pursuant to Section 3.01(c);
(xi) pay the amount of any federal or state tax,
including prohibited transaction taxes, taxes on certain
contributions to the REMIC after the Startup Day, and taxes
on net income from foreclosure property, imposed on the
Trust Fund when and as the same shall be due and payable
(but such obligation shall not prevent the Company or any
other appropriate Person from contesting any such tax in
appropriate proceedings and shall not prevent the Company
from withholding payment of such tax, if permitted by law,
pending the outcome of such proceedings);
(xii) ensure that federal, state or local income tax or
information returns shall be signed by the Trustee or such
other person as may be required to sign such returns by the
Code or state or local laws, regulations or rules; and
(xiii) maintain such records relating to the REMIC
established hereunder, including but not limited to the
income, expenses, individual Mortgage Loans (including
Mortgaged Property), other assets and liabilities thereof,
and the fair market value and adjusted basis of the
property of each determined at such intervals as may be
required by
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the Code, as may be necessary to prepare the foregoing
returns, schedules, statements or information.
The Company shall be entitled to be reimbursed
pursuant to Section 3.04 for any federal income taxes paid by it
pursuant to clause (xi) of the preceding sentence, except to the
extent that such taxes are imposed as a result of the bad faith,
misfeasance or negligence of the Company in the performance of
its obligations hereunder. The Company shall not be entitled to
be reimbursed for any taxes paid pursuant to the indemnification
provisions of Section 3.01(c) (except as provided therein). With
respect to any reimbursement of prohibited transaction taxes, the
Company shall inform the Trustee of the circumstances under which
such taxes were incurred.
(b) The Company shall service and administer the
Mortgage Loans and shall have full power and authority, acting
alone or through one or more Primary Servicers, to do any and all
things in connection with such servicing and administration which
it may deem necessary or desirable. Without limiting the
generality of the foregoing, the Company shall continue, and is
hereby authorized and empowered by the Trustee, to execute and
deliver, or file, as appropriate, on behalf of itself, the
Certificateholders and the Trustee or any of them, any and all
continuation statements, termination statements, instruments of
satisfaction or cancellation, or of partial or full release or
discharge and all other comparable instruments, with respect to
the Mortgage Loans and with respect to the properties subject to
the Mortgages. Without limitation of the foregoing, if the
Company in its individual capacity agrees to refinance any
Mortgage Loan upon the request of the related Mortgagor, the
Company, as servicer hereunder, may execute an instrument of
assignment in customary form to the Company in its individual
capacity. In connection with any such refinancing, the Trustee
shall, upon certification of a Servicing Officer to the effect
that an amount equal to the principal balance of the related
Mortgage Loan together with accrued and unpaid interest thereon
at the applicable Net Mortgage Rate to the date of such
certification has been credited to the Mortgage Loan Payment
Record, release the related Mortgage File to the Company
whereupon the Company may cancel the related Mortgage Note. Upon
request by the Company after the execution and delivery of this
Agreement, the Trustee shall furnish the Company with any powers
of attorney and other documents necessary or appropriate to
enable the Company to carry out its servicing and administrative
duties hereunder. Except as otherwise provided herein, the
Company shall maintain servicing standards substantially
equivalent to those required for approval by FNMA or FHLMC. The
Company shall not agree to any modification of the material terms
of any Mortgage Loan except as provided in Section 3.01(c), the
second sentence of Section 3.02(a) and in Section 3.07. The Company
shall not release any portion of any Mortgaged Property from the
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lien of the related Mortgage unless the related Mortgage Loan
would be a "qualified mortgage" within the meaning of the REMIC
Provisions following such release.
(c) The Company may agree to a modification of any
Mortgage Loan (the "Relevant Mortgage Loan") upon the request of
the related Mortgagor, provided that (i) the modification is in
lieu of a refinancing and the Mortgage Rate on the Relevant
Mortgage Loan, as modified, is approximately a prevailing market
rate for newly-originated mortgage loans having similar terms,
(ii) the aggregate of the adjusted bases of all Modified Mortgage
Loans (including the Relevant Mortgage Loan) plus the aggregate
adjusted bases of any assets that are not qualified mortgages or
Permitted Investments under Code Section 860GA that are assets of
the REMIC established hereunder at all times on any day is less
than one percent of the aggregate of the adjusted bases of all
assets of the REMIC (including such Modified Mortgage Loans) on
such day, and (iii) the Company purchases the Relevant Mortgage
Loan from the Trust Fund as described below. Effective
immediately after such modification, and, in any event, on the
same Business Day on which the modification occurs, all right,
title and interest of the Trustee in and to the Modified Mortgage
Loan shall automatically be deemed transferred and assigned to
the Company and all benefits and burdens of ownership thereof,
including without limitation the right to accrued interest
thereon from and including the date of modification and the risk
of default thereon, shall pass to the Company. To confirm such
transfer and assignment, the Company, as servicer hereunder, as
soon as practicable shall execute an instrument of assignment of
the Modified Mortgage Loan without recourse in customary form to
the Company in its individual capacity. The Company shall
promptly deliver to the Trustee a certification of a Servicing
Officer to the effect that (i) an amount equal to the Purchase
Price of such Modified Mortgage Loan has been credited to the
Mortgage Loan Payment Record on the date of the transfer and
assignment of such Modified Mortgage Loan to the Company and (ii)
all requirements of the first paragraph of this subsection (c)
have been satisfied with respect to such Modified Mortgage Loan.
The Company shall deposit the Purchase Price for any
Modified Mortgage Loan in the Certificate Account pursuant to
Section 3.02(d) on the Business Day prior to the Distribution
Date on which such funds are considered Available Funds,
provided, however, that if the Company is required to deposit
funds in one or more Eligible Accounts on a daily basis pursuant
to Section 3.02(e), the Purchase Price for any Modified Mortgage
Loan shall be deposited therein within one Business Day after the
purchase of such Modified Mortgage Loan. Upon receipt by the
Trustee of written notification of any such deposit signed by a
Servicing Officer, the Trustee shall release to the Company the
related Mortgage File and shall execute and deliver such
instruments of transfer or assignment, in each case without
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recourse, as shall be necessary more fully to vest in the Company
any Modified Mortgage Loan previously transferred and assigned
pursuant hereto.
The Company covenants and agrees to indemnify the
Trust Fund against any and all liability for any "prohibited
transaction" taxes and any related interest, additions and
penalties imposed on the REMIC established hereunder as a result
of any modification of a Mortgage Loan effected pursuant to this
subsection (c), any holding of a Modified Mortgage Loan by the
REMIC or any purchase of a Modified Mortgage Loan by the Company
(but such obligation shall not prevent the Company or any other
appropriate Person from contesting any such tax in appropriate
proceedings and shall not prevent the Company from withholding
payment of such tax, if permitted by law, pending the outcome of
such proceedings). The Company shall have no right of
reimbursement for any amount paid pursuant to the foregoing
indemnification, except to the extent that the amount of any tax,
interest and penalties, together with interest thereon, is
refunded to the Trust Fund or the Company.
(d) The relationship of the Company (and of any
successor to the Company as servicer under this Agreement) to the
Trustee under this Agreement is intended by the parties to be
that of an independent contractor and not that of a joint
venturer, partner or agent.
(e) All costs incurred by the Company in effecting the
timely payment of taxes and assessments on the properties subject
to the Mortgage Loans shall not, for the purpose of calculating
monthly distributions to Certificateholders, be added to the
amount owing under the related Mortgage Loans, notwithstanding
that the terms of such Mortgage Loans so permit, and such costs
shall be recoverable by the Company to the extent permitted by
Section 3.04. The Company shall collect such amounts from the
Mortgagor and shall credit the Mortgage Loan Payment Record
accordingly.
(f) If the Company enters into a servicing agreement
with any servicer (a "Primary Servicer") pursuant to which such
Primary Servicer shall directly service certain Mortgage Loans
and the Company shall perform master servicing with respect
thereto, the Company shall not be released from its obligations
to the Trustee and Certificateholders with respect to the
servicing and administration of the Mortgage Loans in accordance
with the provisions of Article III hereof and such obligations
shall not be diminished by virtue of any such servicing agreement
or arrangement and the Company shall be obligated to the same
extent and under the same terms and conditions as if the Company
alone were servicing and administering the Mortgage Loans. Any
amounts received by a Primary Servicer in respect of a Mortgage
Loan shall be deemed to have been received by the Company whether
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or not actually received by it. Any servicing agreement that may
be entered into and any transactions or services relating to the
Mortgage Loans involving a Primary Servicer in its capacity as
such shall be deemed to be between the Company and the Primary
Servicer alone, and the Trustee and the Certificateholders shall
have no claims, obligations, duties or liabilities with respect
thereto. Notwithstanding the foregoing, in the event the Company
has been removed as the servicer hereunder pursuant to Section
6.04 or Section 7.01, the Trustee or any successor servicer
appointed pursuant to Section 7.02 shall succeed to all of the
Company's rights and interests (but not to any obligations or
liabilities of the Company arising prior to the date of
succession) under any servicing agreement with any Primary
Servicer in respect of the Mortgage Loans, subject to the
limitation on the Trustee's responsibilities under Section 7.02.
(g) In no event shall any collateral fund established
under the agreement referred to in Section 3.08(e) constitute an
asset of any REMIC established hereunder.
Section 3.02. Collection of Certain Mortgage Loan
Payments; Mortgage Loan Payment Record; Certificate Account. (a)
The Company shall make reasonable efforts to collect all payments
called for under the terms and provisions of the Mortgage Loans,
and shall, to the extent such procedures shall be consistent with
this Agreement, follow such collection procedures as it follows
with respect to mortgage loans comparable to the Mortgage Loans
in its servicing portfolio. Consistent with the foregoing, the
Company may in its discretion (i) waive any late payment charge
or any assumption fees or other fees which may be collected in
the ordinary course of servicing such Mortgage Loan and (ii) if a
default on the Mortgage Loan has occurred or is reasonably
foreseeable, arrange at any time prior to foreclosure with a
Mortgagor a schedule for the payment of due and unpaid principal
and interest for a period extending not longer than 125 days
after the date that such schedule is arranged. Any arrangement of
the sort described in clause (ii) above shall not affect the
amount or timing of the Company's obligation to make Monthly
Advances with respect to any Mortgage Loan which Monthly Advances
shall be made pursuant to the original amortization schedule
applicable to such Mortgage Loan.
(b) The Company shall establish and maintain a
Mortgage Loan Payment Record in which the following payments on
and collections in respect of each Mortgage Loan shall as
promptly as practicable be credited by the Company for the
account of the Holders of the Certificates:
(i) All payments on account of principal, including
Principal Prepayments (other than (A) payments of principal
due and payable on the Mortgage Loans on or before, and all
Principal Prepayments received before, the Cut-off Date,
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(B) in the case of a substitute Mortgage Loan, payments of
principal due and payable on such Mortgage Loan on or
before the Determination Date in the month of substitution,
and all Principal Prepayments received before the first day
of the month of substitution, and (C) in the case of a
replaced Mortgage Loan, payments of principal due and
payable on such Mortgage Loan after the Determination Date
in the month of substitution, and all Principal Prepayments
received in the month of substitution);
(ii) All payments (other than (A) those due and payable
on or before the Cut-off Date, (B) in the case of a
substitute Mortgage Loan, those due and payable on such
Mortgage Loan on or before the Determination Date in the
month of substitution, and (C) in the case of a replaced
Mortgage Loan, those due and payable on such Mortgage Loan
after the Determination Date in the month of substitution)
on account of interest at the applicable Net Mortgage Rate
on the Mortgage Loan received from the related Mortgagor,
including any Buydown Funds applied with respect to
interest at the applicable Net Mortgage Rate on any Buydown
Mortgage Loan;
(iii) All Liquidation Proceeds received by the Company
with respect to such Mortgage Loan and the Purchase Price
for any Mortgage Loan purchased by the Company pursuant to
Sections 2.02, 2.03, 3.01(c) and 3.16 (including any
amounts received in respect of a substitution of a Mortgage
Loan);
(iv) All Insurance Proceeds (including, for this
purpose, any amounts required to be credited by the Company
pursuant to the last sentence of Section 3.06) received by
the Company for the benefit of the Trust Fund, other than
proceeds to be applied to the restoration or repair of the
property subject to the related Mortgage or released, or to
be released, to the related Mortgagor in accordance with
the normal servicing procedures of the Company; and
(v) All REO Proceeds.
The foregoing requirements respecting credits to the Mortgage
Loan Payment Record are exclusive, it being understood that,
without limiting the generality of the foregoing, the Company
need not enter in the Mortgage Loan Payment Record collections,
Liquidation Proceeds or Insurance Proceeds in respect of Mortgage
Loans which have been previously released from the terms of this
Agreement, amounts representing fees or late charge penalties
payable by Mortgagors, or amounts received by the Company for the
account of Mortgagors for application towards the payment of
taxes, insurance premiums, assessments and similar items.
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(c) Subject to subsection (e) below, until the
Business Day prior to each Distribution Date on which amounts are
required to be deposited in the Certificate Account pursuant to
subsection (d) of this Section 3.02, the Company may retain and
commingle such amounts with its own funds and shall be entitled
to retain for its own account any gain or investment income
thereon, and any such investment income shall not be subject to
any claim of the Trustee or Certificateholders. To the extent
that the Company realizes any net loss on any such investments,
the Company shall deposit in the Certificate Account an amount
equal to such net loss at the time the Company is required to
deposit amounts in the Certificate Account pursuant to subsection
(d) of this section 3.02. Any such deposit shall not increase the
Company's obligation under said subsection (d).
(d) The Trustee shall establish and maintain with the
Trustee in its corporate trust department a single separate trust
account designated in the name of the Trustee for the benefit of
the Holders of the Certificates issued hereunder (the
"Certificate Account") into which the Company shall deposit, not
later than 11:00 a.m. New York time on the Business Day prior to
each Distribution Date, an amount in next day funds equal to the
Available Funds for such Distribution Date. If the Trustee does
not receive such deposit by 2:00 p.m. on such Business Day, it
shall give the Company written notice thereof.
(e) If the Company or a Responsible Officer of the
Trustee obtains actual notice of or knowledge of the occurrence
of any Trigger Event, the Company shall promptly establish, and
thereafter maintain, one or more Eligible Accounts in the name of
the Trustee and bearing a designation indicating that amounts
therein are held for the benefit of the Trustee and the
Certificateholders, into which the Company and any Primary
Servicer shall deposit within two Business Days after receipt,
all amounts otherwise required to be credited to the Mortgage
Loan Payment Record pursuant to Section 3.02(b); provided,
however, that such action shall not be required if the Company
delivers to the Trustee a letter from each Rating Agency to the
effect that the failure to take such action will not cause such
Rating Agency to withdraw or reduce its then current ratings of
the Certificates. All amounts so deposited shall be held in trust
for the benefit of Certificateholders. Amounts so deposited may
be invested at the written instruction of the Company in
Permitted Investments in the name of the Trustee maturing no
later than the Business Day preceding the Distribution Date
following the date of such investment; provided, however, that
any such Permitted Investment which is an obligation of State
Street Bank and Trust Company, in its individual capacity and not
in its capacity as Trustee, may mature on such Distribution Date;
and, provided further, that no such Permitted Investment shall be
sold before the maturity thereof if the sale thereof would result
in the realization of
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gain prior to maturity unless the Company has obtained an Opinion
of Counsel that such sale or disposition will not cause the Trust
Fund to be subject to the tax on prohibited transactions under
section 860F of the Code, or otherwise subject the Trust Fund to
tax or cause the REMIC established hereunder to fail to qualify
as a REMIC. The Trustee shall maintain physical possession of all
Permitted Investments, other than Permitted Investments
maintained in book-entry form. The Company, as servicer, shall be
entitled to retain for its own account any gain or other income
from Permitted Investments, and neither the Trustee nor
Cer-tificateholders shall have any right or claim with respect to
such income. The Company shall deposit an amount equal to any
loss realized on any Permitted Investment as soon as any such
loss is realized. If the provisions in this subsection (e) become
operable, references in this Agreement to the Mortgage Loan
Payment Record and credits and debits to such Record shall be
deemed to refer to Eligible Accounts and deposits to and
withdrawals from such Eligible Accounts. Any action which may be
necessary to establish the terms of an account pursuant to this
Section 3.02(e) may be taken by an amendment or supplement to
this Agreement or pursuant to a written order of the Company,
which amendment, supplement or order shall not require the
consent of Certificateholders, provided that the Company has
delivered to the Trustee a letter from each Rating Agency to the
effect that such amendment, supplement or order will not cause
such Rating Agency to withdraw or reduce its then current ratings
of the Certificates.
Section 3.03. Collection of Taxes, Assessments and
Other Items. The Company shall establish and maintain with one or
more depository institutions one or more accounts into which it
shall deposit all collections of taxes, assessments, private
mortgage or hazard insurance premiums or comparable items for the
account of the Mortgagors. As servicer, the Company shall effect
the timely payment of all such items for the account of
Mortgagors. Withdrawals from such account or accounts may be made
only to effect payment of taxes, assessments, private mortgage or
standard hazard insurance premiums or comparable items, to
reimburse the Company out of related collections for any payments
made regarding taxes and assessments or for any payments made
pursuant to Section 3.05 regarding premiums on Primary Insurance
Policies and Section 3.06 regarding premiums on standard hazard
insurance policies, to refund to any Mortgagors any sums
determined to be overages, or to pay interest owed to Mortgagors
to the extent required by law.
Section 3.04. Permitted Debits to the Mortgage Loan
Payment Record. The Company (or any successor servicer pursuant
to Section 7.02) may, from time to time, make debits to the
Mortgage Loan Payment Record for the following purposes:
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(i) To reimburse the Company or the applicable Primary
Servicer for Liquidation Expenses theretofore incurred in
respect of any Mortgage Loan in an amount not to exceed the
amount of the related Liquidation Proceeds credited to the
Mortgage Loan Payment Record pursuant to Section
3.02(b)(iii); provided that the Company or the applicable
Primary Servicer shall not be entitled to reimbursement for
Liquidation Expenses incurred after the initiation of
foreclosure proceedings in respect of any Defaulted
Mortgage Loan that is repurchased pursuant to Section 3.16;
(ii) To reimburse the Company or the applicable Primary
Servicer for Insured Expenses and amounts expended by it
pursuant to Section 3.08 in good faith in connection with
the restoration of property damaged by an Uninsured Cause,
in an amount not to exceed the amount of the related
Insurance Proceeds and Liquidation Proceeds (net of any
debits pursuant to clause (i) above) and amounts
representing proceeds of other insurance policies covering
the property subject to the related Mortgage credited to
the Mortgage Loan Payment Record pursuant to Section
3.02(b) (iii) and (iv);
(iii) To reimburse the Company to the extent permitted
by Sections 3.01(a) and 6.04;
(iv) To pay to the Company amounts received in respect
of any Defective Mortgage Loan, Defaulted Mortgage Loan, or
Modified Mortgage Loan purchased by the Company to the
extent that the distribution of any such amounts on the
Distribution Date upon which the proceeds of such purchase
are distributed would make the total amount distributed in
respect of any such Mortgage Loan on such Distribution Date
greater than the Purchase Price therefor, net of any
unreimbursed Monthly Advances made by the Company;
(v) To reimburse the Company (or the Trustee, as
applicable) for Monthly Advances theretofore made in
respect of any Mortgage Loan to the extent of late
payments, REO Proceeds, Insurance Proceeds and Liquidation
Proceeds in respect of such Mortgage Loan;
(vi) To reimburse the Company from any Mortgagor
payment of interest or other recovery with respect to a
particular Mortgage Loan, to the extent not previously
retained by the Company, for unpaid Servicing Fees with
respect to such Mortgage Loan, subject to Section 3.08(d);
(vii) To reimburse the Company (or the Trustee, as
applicable) for any Nonrecoverable Advance (which right of
reimbursement of the Trustee pursuant to this clause shall
be prior to such right of the Company);
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(viii) To make deposits into the Certificate Account
pursuant to Section 3.02(d); and
(ix) to deduct any amount credited to the Mortgage Loan
Payment Record in error.
The Company shall keep and maintain separate
accounting records, on a Mortgage Loan by Mortgage Loan basis,
for the purpose of accounting for debits to the Mortgage Loan
Payment Record pursuant to clauses (i), (ii), (iv), (v) and (vi)
of this Section 3.04; provided, however, that it is understood
and agreed that the records of such accounting need not be
retained by the Company for a period longer than the five most
recent fiscal years.
Section 3.05. Maintenance of the Primary Insurance
Policies. (a) The Company shall not take any action which would
result in non-coverage under any applicable Primary Insurance
Policy of any loss which, but for the actions of the Company,
would have been covered thereunder. To the extent coverage is
available, the Company shall keep or cause to be kept in full
force and effect each such Primary Insurance Policy until the
principal balance of the related Mortgage Note is 80% or less of
the greater of (i) the related Original Value and (ii) the then
current value of the property underlying the related Mortgage
Note as evidenced by an appraisal thereof satisfactory to the
Company; provided that no such Primary Insurance Policy need be
kept in effect if doing so would violate applicable law. The
Company shall not cancel or refuse to renew any such Primary
Insurance Policy applicable to a Mortgage Loan that is in effect
at the Closing Date and is required to be kept in force hereunder
unless the replacement Primary Insurance Policy for such canceled
or non-renewed policy is maintained with an insurer whose
claims-paying ability is acceptable to each Rating Agency for
mortgage pass-through certificates having ratings equal to or
better than the ratings then assigned to the Certificates by such
Rating Agency. The Company agrees to effect the timely payment of
the premium on each Primary Insurance Policy, and such costs not
otherwise recoverable shall be recoverable by the Company from
related Insurance Proceeds and Liquidation Proceeds pursuant to
Section 3.04.
(b) In connection with its activities as administrator
and servicer of the Mortgage Loans, the Company agrees to
present, on behalf of itself, the Trustee and the
Certificateholders, claims to the insurer under each Primary
Insurance Policy and, in this regard, to take such reasonable
action as shall be necessary to permit recovery under any Primary
Insurance Policy respecting a related defaulted Mortgage Loan. To
the extent provided in Section 3.02(b), any amounts collected by
the Company under any Primary Insurance Policy in respect of the
Mortgage Loans (including, without limitation, a Mortgage
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Loan purchased by a related insurer) shall be credited to the
Mortgage Loan Payment Record.
Section 3.06. Maintenance of Hazard Insurance. The
Company shall cause to be maintained for each Mortgage Loan
hazard insurance with a standard mortgagee clause and with
extended coverage in an amount which is at least equal to the
maximum insurable value of the improvements securing such
Mortgage Loan from time to time or the principal balance owing on
such Mortgage Loan from time to time, whichever is less. The
Company shall also maintain on property acquired upon
foreclosure, or by deed in lieu of foreclosure, hazard insurance
with extended coverage in an amount which is at least equal to
the lesser of (i) the maximum insurable value from time to time
of the improvements which are a part of such property or (ii) the
unpaid principal balance of such Mortgage Loan at the time of
such foreclosure or deed in lieu of foreclosure plus accrued
interest and the good-faith estimate of the Company of related
Liquidation Expenses to be incurred in connection therewith. To
the extent provided in Section 3.02(b)(iv), amounts collected by
the Company under any such policies in respect of the Mortgage
Loans shall be credited to the Mortgage Loan Payment Record. Such
costs shall be recoverable by the Company pursuant to Sections
3.03 and 3.04. In cases in which property securing any Mortgage
Loan is located in a federally designated flood area, the hazard
insurance to be maintained for such Mortgage Loan shall include
flood insurance. All such flood insurance shall be in such
amounts as are required under applicable guidelines of FNMA. The
Company shall be under no obligation to require that any
Mortgagor maintain earthquake or other additional insurance and
shall be under no obligation itself to maintain any such
additional insurance on property acquired in respect of a
Mortgage Loan, other than pursuant to such applicable laws and
regulations as shall at any time be in force and as shall require
such additional insurance. If the Company shall obtain and
maintain a blanket policy insuring against hazard losses on all
of the Mortgage Loans, it shall conclusively be deemed to have
satisfied its obligations as set forth in the first sentence of
this Section 3.06, it being understood and agreed that such
policy may contain a deductible clause, in which case the Company
shall, in the event that there shall not have been maintained on
the related Mortgaged Property a policy complying with the first
sentence of this Section 3.06, and there shall have been a loss
which would have been covered by such policy, credit to the
Mortgage Loan Payment Record the amount not otherwise payable
under the blanket policy because of such deductible clause.
Section 3.07. Assumption and Modification Agreements.
(a) In any case in which property subject to a Mortgage has been
or is about to be conveyed by the Mortgagor, the Company shall
exercise its right to accelerate the maturity of such Mortgage
Loan under any "due-on-sale" clause applicable thereto, unless in
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the reasonable discretion of the Company, such exercise would
adversely affect or jeopardize coverage under the related Primary
Insurance Policy, if any; provided, however, that if the Company
is prevented, as provided in Section 3.07(b), from enforcing any
such clause, the Company is authorized to make or enter into an
assumption and modification agreement from or with the Person to
whom such property has been or is about to be conveyed, pursuant
to which such Person becomes liable under the Mortgage Note and
the Mortgagor remains liable thereon. In connection with any such
assumption and modification agreement, the Company shall apply
its then current underwriting standards to such Person. The
Company shall not make or enter into any such assumption and
modification agreement, however, unless (to the extent
practicable in the circumstances) it shall have received
confirmation of the continued effectiveness of any applicable
Primary Insurance Policy and hazard insurance policy. The Company
shall notify the Trustee that any assumption and modification
agreement has been completed by forwarding to the Trustee the
original copy thereof, which copy shall be added by the Trustee
to the related Mortgage File and shall, for all purposes, be
considered a part of such Mortgage File to the same extent as all
other documents and instruments constituting a part thereof. In
connection with any such agreement, the Mortgage Rate, mortgage
term and any other material term of such Mortgage Loan shall not
be changed. Any fee collected by the Company for entering into
any such agreement will be retained by the Company as additional
servicing compensation.
(b) Notwithstanding Section 3.07(a) or any other
provision of this Agreement, the Company shall not be deemed to
be in default, breach or any other violation of its obligations
hereunder by reason of any assumption of a Mortgage Loan, or
transfer of the property subject to a Mortgage without the
assumption thereof, by operation of law or any assumption or
transfer which the Company reasonably believes it may be
restricted by law from preventing, for any reason whatsoever.
Section 3.08. Realization Upon Defaulted Mortgage
Loans. (a) The Company shall foreclose upon or otherwise
comparably convert the ownership of properties securing such of
the Mortgage Loans as come into and continue in default and as to
which no satisfactory arrangements can be made for collection of
delinquent payments pursuant to Section 3.02. In connection with
such foreclosure or other conversion the Company shall,
consistent with Section 3.05, follow such practices and
procedures as it shall deem necessary or advisable and as shall
be normal and usual in its general mortgage servicing activities.
The foregoing is subject to the proviso that the Company shall
not be required to expend its own funds in connection with any
foreclosure or towards the restoration of any property unless it
shall determine (i) that such restoration or foreclosure will
increase the proceeds of liquidation of the Mortgage Loan to
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Certificateholders after reimbursement to itself for such
expenses and (ii) that such expenses will be recoverable to it
either through Liquidation Proceeds or Insurance Proceeds.
Notwithstanding the foregoing, the Company shall not be entitled
to recover legal expenses incurred in connection with foreclosure
proceedings where the Mortgage Loan is reinstated and such
foreclosure proceedings are terminated prior to completion, other
than sums received from the Mortgagor for such expenses.
Notwithstanding anything to the contrary contained
herein, the Company shall be under no obligation to foreclose
upon or otherwise convert the ownership of any Mortgaged Property
which it believes may be contaminated with or affected by
hazardous or toxic wastes, materials or substances. The Company
may, but shall not be obligated to, make such determination on
the basis of a Phase I environmental assessment with respect to
the related Mortgaged Property. Neither the Trustee nor the
Company shall be liable to the Trust Fund or the
Certificateholders if, based on the Company's belief that such
contamination or effect exists, the Company does not foreclose
upon or otherwise convert the ownership of a Mortgaged Property.
In addition, neither the Trustee nor the Company shall be liable
to the Trust Fund or the Certificateholders if, based on the
Company's belief that no such contamination or effect exists, the
Company forecloses upon a Mortgaged Property and the Trustee or
its nominee on behalf of the Trust Fund takes title to such
Mortgaged Property, and thereafter such Mortgaged Property is
determined to be so contaminated or affected.
(b) In the event that title to any Mortgaged Property
is acquired in foreclosure or by deed in lieu of foreclosure, the
deed or certificate of sale shall be issued to the Trustee, or to
its nominee on behalf of the Trust Fund. Notwithstanding any such
acquisition of title and cancellation of the related Mortgage
Loan, such Mortgage Loan shall (except for purposes of Section
9.01) be considered to be an Outstanding Mortgage Loan until such
time as the Mortgaged Property shall be sold and such Mortgage
Loan becomes a Liquidated Mortgage Loan. Consistent with the
foregoing, for purposes of all calculations hereunder so long as
such Mortgage Loan shall be considered to be an Outstanding
Mortgage Loan, it shall be assumed that the related Mortgage Note
and its amortization schedule in effect on and after such
acquisition of title (after giving effect to any previous
Principal Prepayments and Deficient Valuations incurred
subsequent to the related Bankruptcy Coverage Termination Date
and before any adjustment thereto by reason of any bankruptcy
(other than as aforesaid) or any similar proceeding or any
moratorium or similar waiver or grace period) remain in effect
(notwithstanding that the indebtedness evidenced by such Mortgage
Note shall have been discharged), subject to adjustment to
reflect the application of REO Proceeds received in any month.
REO Proceeds received in any month shall be applied to the
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payment of the installments of principal due and interest accrued
on the related REO Mortgage Loan in accordance with the terms of
such Mortgage Note. REO Proceeds received in any month in excess
of the Amortization Payment for such month due on an REO Mortgage
Loan shall be treated as a Principal Prepayment received in
respect of such Mortgage Loan.
(c) In the event that the Trust Fund acquires any
Mortgaged Property as aforesaid or otherwise in connection with a
default or imminent default on a Mortgage Loan, the Company shall
dispose of such Mortgaged Property prior to two years after its
acquisition by the Trust Fund unless (a) the Trustee shall have
been supplied with an Opinion of Counsel to the effect that the
holding by the Trust Fund of such Mortgaged Property subsequent
to such two-year period (and specifying the period beyond such
two-year period for which the Mortgaged Property may be held)
will not result in the imposition of taxes on "prohibited
transactions" of the Trust Fund as defined in section 860F of the
Code, or cause the REMIC established hereunder to fail to qualify
as a REMIC at any time that any Certificates are outstanding, in
which case the Trust Fund may continue to hold such Mortgaged
Property (subject to any conditions contained in such Opinion of
Counsel), or (b) the Trustee (at the Company's expense) or the
Company shall have applied for, not later than 61 days prior to
the expiration of such two-year period, an extension of such
two-year period in the manner contemplated by section 856(e)(3)
of the Code, in which case the two-year period shall be extended
by the applicable period. Notwithstanding any other provision of
this Agreement, no Mortgaged Property acquired by the Trust Fund
shall be rented (or allowed to continue to be rented) or
otherwise used for the production of income by or on behalf of
the Trust Fund or sold in such a manner or pursuant to any terms
that would (i) cause such Mortgaged Property to fail to qualify
at any time as "foreclosure property" within the meaning of
section 860G(a)(8) of the Code, (ii) subject the Trust Fund to
the imposition of any federal or state income taxes on "net
income from foreclosure property" with respect to such Mortgaged
Property within the meaning of section 860G(c) of the Code, or
(iii) cause the sale of such Mortgaged Property to result in the
receipt by the Trust Fund of any income from non-permitted assets
as described in section 860F(a)(2)(B) of the Code, unless the
Company has agreed to indemnify and hold harmless the Trust Fund
with respect to the imposition of any such taxes.
(d) Any collection of Insurance Proceeds or
Liquidation Proceeds will be applied in the following order of
priority: first, to reimburse the Company for any related
unreimbursed Liquidation Expenses and to reimburse the Company or
the Trustee, as applicable, for any related unreimbursed Monthly
Advances; second, to accrued and unpaid interest on the Mortgage
Loan at the Mortgage Rate from the date to which interest was
last paid or advanced to the Due Date prior to the Distribution
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Date on which such amounts are to be distributed; and third, as a
recovery of principal of the Mortgage Loan. If the amount so
allocated to interest is less than the full amount of accrued and
unpaid interest due on such Mortgage Loan, the amount of such
recovery will be allocated between the Servicing Fee and interest
at the Net Mortgage Rate in proportion to the amount of such
accrued interest which would have been allocated to each such
category in the absence of any shortfall.
(e) Notwithstanding anything to the contrary contained
herein, the Company shall have the right to enter into an
agreement substantially in the form of Exhibit K hereto with any
Person that is the Holder of 100% of the Class B5 Certificates
(provided that such form may be revised to delete the option on
the part of such Person to purchase a defaulted Mortgage Loan as
set forth in Section 2.02(f) thereof). Prior to entering into any
such agreement with any Person, the Company shall obtain a
certification from such Person to the effect that (i) such Person
is not an "affiliate" (within the meaning of the Prohibited
Transaction Exemption) of the Trustee and (ii) such Person will
not purchase any Certificates if such purchase would cause such
Person to hold more than a ten percent interest in the Mortgage
Pool. It is understood that the right of the Company to be
reimbursed for Monthly Advances and Nonrecoverable Advances under
this Agreement shall not be affected in any way by the provisions
of any such agreement. The Trustee hereby agrees to perform such
obligations as may be expressly required of it pursuant to the
provisions of such agreement and to promptly notify each party to
such agreement if a Responsible Officer of the Trustee (with
direct responsibility for administration of this Agreement)
becomes aware of any discussions, plans or events that might lead
to the Trustee's becoming an "affiliate" (within the meaning of
the Prohibited Transaction Exemption) of any Person with which
the Company has entered into such agreement, provided that the
contents of any such notification shall be kept confidential by
the parties to such agreement. The Company agrees to promptly
notify the Trustee upon entering into any such agreement. In
addition, the Company shall provide the Trustee with such
information as may be necessary for the Trustee to perform its
obligations thereunder, including written instructions, clearly
identifying the source, amount and application of funds to be
deposited or withdrawn from the Collateral Fund (as defined in
such agreement). The Trustee shall provide the Company with such
information concerning credits and debits to the Collateral Fund
on account of income, gains and losses realized from Collateral
Fund Permitted Investments (as defined in such agreement), and
costs associated with the purchase and sale thereof, as the
Company may request in order to prepare the instructions
described in the preceding sentence.
In addition, subject to the provisions of the preceding
paragraph, the Company shall have the right to enter into an
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agreement substantially in the form of Exhibit K hereto with any
Person that is the Holder of 100% of the Class B4 Certificates,
provided that (i) such Person is also the Holder of 100% of the
Class B5 Certificates, (ii) such Person shall have no rights
under such agreement until the date on which the Class
Certificate Principal Balance of the Class B5 Certificates has
been reduced to zero, and (iii) any rights of such Person under
such Agreement shall terminate in the event that such Person
transfers, directly or indirectly, the Class B4 Certificates to
any other Person.
Section 3.09. Trustee to Cooperate; Release of
Mortgage Files. Upon the payment in full of any Mortgage Loan,
the Company will immediately notify the Trustee by a
certification (which certification shall include a statement to
the effect that all amounts received in connection with such
payment which are required to be credited to the Mortgage Loan
Payment Record pursuant to Section 3.02 have been so credited) of
a Servicing Officer and shall request delivery to it of the
Mortgage File. If a Buydown Mortgage Loan is the subject of a
Principal Prepayment in full during the related Buydown Period,
the related Buydown Funds will be applied or returned to the
Person entitled thereto in accordance with the terms of such
Buydown Mortgage Loan. Upon receipt of such certification and
request in form satisfactory to the Trustee, the Trustee shall
promptly, but in any event within five Business Days, release the
related Mortgage File to the Company; provided, that the Trustee
shall not be responsible for any delay in the release of a
Mortgage File resulting from acts beyond its control, including
without limitation, acts of God, strikes, lockouts, riots, acts
of war or terrorism, epidemics, nationalization, governmental
regulations imposed after the fact, fire, communication line
failures, computer viruses, power failures, earthquakes or other
disasters. Upon any such payment in full, the Company is
authorized to execute, pursuant to the authorization contained in
Section 3.01, an instrument of satisfaction regarding such
Mortgage, which instrument of satisfaction shall be recorded by
the Company if required by applicable law and be delivered to the
Person entitled thereto, it being understood and agreed that no
expenses incurred in connection with such instrument of
satisfaction shall be reimbursed from amounts at the time
credited to the Mortgage Loan Payment Record. From time to time
and as appropriate for the servicing or foreclosure of any
Mortgage Loan (including, without limitation, collection under
any Primary Insurance Policy), the Trustee shall, upon request of
the Company and delivery to the Trustee of a receipt signed by a
Servicing Officer, release the related Mortgage File to the
Company and shall execute such documents as shall be necessary to
the prosecution of any such proceedings. Such receipt shall
obligate the Company to return the Mortgage File to the Trustee
when the need therefor by the Company no longer exists unless the
Mortgage Loan shall be liquidated, in which case, upon receipt of
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a certificate of a Servicing Officer similar to that hereinabove
specified, the receipt shall be released by the Trustee to the
Company.
Section 3.10. Servicing Compensation; Payment of
Certain Expenses by the Company. (a) As compensation for its
activities and obligations hereunder, the Company shall be
entitled to withhold and pay to itself out of each payment
received by it on account of interest on each Mortgage Loan
(including the portion of any Buydown Funds applied to the
related Buydown Mortgage Loan for the applicable period) an
amount equal to the Servicing Fee. The aggregate of the Servicing
Fees payable to the Company on any Distribution Date shall be
reduced by the amount of any Compensating Interest Payment for
such Distribution Date. Additional servicing compensation in the
form of Prepayment Interest Excess, assumption fees, modification
fees, late payment charges, interest income or gain with respect
to amounts deposited in the Certificate Account and invested by
the Company or otherwise shall be retained by the Company,
subject to Section 3.10(b), if applicable. The Company shall be
required to pay all expenses incurred by it in connection with
its activities hereunder (including payment of Trustee fees and
all other fees and expenses not expressly stated hereunder to be
for the account of the Certificateholders) and shall not be
entitled to reimbursement therefor except as provided in Sections
3.01, 3.03, 3.04 and 3.08.
(b) The Company may, as a condition to granting any
request by a Mortgagor for any consent, modification, waiver or
amendment or any other matter or thing, the granting of which is
in the Company's discretion pursuant to the terms of the
instruments evidencing or securing the related Mortgage Loan and
is permitted by other sections of this Agreement, require (to the
extent permitted by applicable law) that such Mortgagor pay to it
a reasonable or customary fee in accordance with the schedule set
forth as Exhibit H (which may be amended from time to time by
provision of a revised schedule of such fees to the Trustee,
whereupon such revised schedule shall be deemed to be Exhibit H
hereunder) for the additional services performed in connection
with such request, together with any related costs and expenses
incurred by it. Such fees shall be additional servicing
compensation to the Company.
Section 3.11. Reports to the Trustee; Certificate
Account Statements. Not later than 15 days after each
Distribution Date, the Company shall forward to the Trustee a
statement, certified by a Servicing Officer, setting forth the
status of the Mortgage Loan Payment Record as of the close of
business on such Distribution Date and showing, for the period
covered by such statement, the aggregate of credits to the
Mortgage Loan Payment Record for each category of credit
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specified in Section 3.02 and each category of debit specified in
Section 3.04.
Section 3.12. Annual Statement as to Compliance. The
Company will deliver to the Trustee, on or before March 31 of
each year, beginning with March 31, 1998, an Officer's
Certificate stating that (a) a review of the activities of the
Company during the preceding calendar year and of its performance
under this Agreement has been made under such Officer's
supervision and (b) to the best of such Officer's knowledge,
based on such review, the Company has fulfilled all its material
obligations under this Agreement throughout such year, or, if
there has been a default in the fulfillment of any such
obligation, specifying each such default known to such Officer
and the nature and status thereof.
Section 3.13. Annual Independent Public Accountants'
Servicing Report. On or before March 31 of each year, beginning
with March 31, 1998, the Company at its expense shall cause a
firm of independent public accountants (who may also render other
services to the Company) to furnish a report to the Trustee to
the effect that such firm has examined certain documents and
records relating to the servicing of mortgage loans under pooling
and servicing agreements (including this Agreement) substantially
similar to this Agreement (which agreements shall be described in
a schedule to such statement), and that such examination, which
has been conducted substantially in compliance with the Uniform
Single Attestation Program for Mortgage Bankers has disclosed no
items of noncompliance with the provisions of this Agreement
which, in the opinion of such firm, are material, except for such
items of noncompliance as shall be set forth in such report. For
purposes of such report, such firm may conclusively presume that
any pooling and servicing agreement which governs certificates
offered under a common registration statement under the
Securities Act of 1933 with the Certificates is similar to this
Agreement, unless such other pooling and servicing agreement
expressly states otherwise. In rendering such report, such firm
may rely, as to matters relating to direct servicing of Mortgage
Loans by any Primary Servicer, upon comparable reports of
independent public accountants with respect to such Primary
Servicer.
Section 3.14. Access to Certain Documentation and
Information Regarding the Mortgage Loans. To the extent permitted
by applicable law, the Company shall provide to the Trustee,
Certificateholders which are regulated insurance entities and the
applicable insurance regulatory agencies thereof,
Certificateholders which are federally insured savings and loan
associations, the Office of Thrift Supervision, the FDIC and the
supervisory agents and examiners thereof access to the
documentation regarding the Mortgage Loans required by applicable
regulations of the Office of Thrift Supervision or of such
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insurance regulatory agencies, as the case may be, such access
being afforded without charge but only upon reasonable request
and during normal business hours at the offices of the Company.
Nothing in this Section 3.14 shall derogate from the obligation
of the Company to observe any applicable law prohibiting
disclosure of information regarding the Mortgagors and the
failure of the Company to provide access as provided in this
Section 3.14 as a result of such obligation shall not constitute
a breach of this Section 3.14.
Section 3.15. Maintenance of Certain Servicing
Policies. The Company shall during the term of its service as
servicer maintain in force (i) a policy or policies of insurance
covering errors and omissions in the performance of its
obligations as servicer hereunder and (ii) a fidelity bond in
respect of its officers, employees or agents. Each such policy or
policies and bond shall, together, comply with the requirements
from time to time of FNMA for persons performing servicing for
mortgage loans purchased by such association.
Section 3.16. Optional Purchase of Defaulted Mortgage
Loans. The Company shall have the right, but not the obligation,
to purchase any Defaulted Mortgage Loan for a price equal to the
Purchase Price therefor. Any such purchase shall be accomplished
as provided in Section 4.04(a) hereof.
ARTICLE IV
PAYMENTS AND STATEMENTS
Section 4.01. Distributions. (a) On each Distribution
Date, the Trustee shall withdraw the Available Funds from the
Certificate Account and shall make distributions to Holders of
the Certificates as of the preceding Record Date in the following
order of priority, to the extent of the remaining Available
Funds:
(i) to each Class of Senior Certificates (other than
any Class of Principal Only Certificates) and the Class S
Certificates, the Accrued Certificate Interest thereon for
such Distribution Date; provided, however, that Accrued
Certificate Interest on the Class A9 Certificates for such
Distribution Date shall be applied in the manner provided
in Section 4.01(e); and provided further, that any
shortfall in available amounts shall be allocated among
such Classes in proportion to the amount of Accrued
Certificate Interest that would otherwise be distributable
thereon or added to the Certificate Principal Balance
thereof;
(ii) to each Class of Senior Certificates (other than
any Class of Principal Only Certificates) and the Class S
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Certificates, any related Unpaid Class Interest Shortfall
for such Distribution Date; provided, however, that any
Unpaid Class Interest Shortfall for the Class A9
Certificates for such Distribution Date shall be applied in
the manner provided in Section 4.01(e); and provided
further, that any shortfall in available amounts shall be
allocated among such Classes in proportion to the Unpaid
Class Interest Shortfall for each such Class on such
Distribution Date;
(iii) to the Classes of Senior Certificates, in
reduction of the Class Certificate Principal Balances
thereof, concurrently as follows:
(A) to the Group I Senior Certificates, the
Adjusted Group I Senior Optimal Principal Amount for
such Distribution Date, in the following order of
priority:
first, until the Class Certificate Principal
Balances of the Class R, Class A1, Class A2 and
Class A3 Certificates have been reduced to zero,
to the Class R, Class A1, Class A2, Class A3,
Class A4 and Class A5 Certificates, concurrently,
as follows:
(a) to the Class A1 Certificates,
approximately 14.28571422% of the Adjusted
Group I Senior Optimal Principal Amount,
until the Class Certificate Principal
Balance thereof has been reduced to zero;
(b) to the Class A2 Certificates,
approximately 2.56983696% of the Adjusted
Group I Senior Optimal Principal Amount,
until the Class Certificate Principal
Balance thereof has been reduced to zero;
(c) sequentially, to the Class R and
Class A3 Certificates, in that order,
approximately 67.92074094% of the Adjusted
Group I Senior Optimal Principal Amount,
until the Class Certificate Principal
Balance of each such Class has been reduced
to zero, such that no distribution will be
made to the Class A3 Certificates until the
Class Certificate Principal Balance of the
Class R Certificates has been reduced to
zero;
(d) to the Class A4 Certificates,
approximately 5.13967437% of the Adjusted
Group I Senior Optimal Principal Amount, in
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reduction of the Class Certificate Principal
Balance thereof; and
(e) to the Class A5 Certificates,
approximately 10.08403351% of the Adjusted
Group I Senior Optimal Principal Amount, in
reduction of the Class Certificate Principal
Balance thereof;
second, concurrently, to the Class A4 and Class
A5 Certificates, 57.14285865% and 42.85714135%,
respectively, of the remaining Adjusted Group I
Senior Optimal Principal Amount until the Class
Certificate Principal Balance of the Class A4
Certificates has been reduced to zero;
third, pro rata, to the Class A5 and Class A6
Certificates until the Class Certificate
Principal Balances thereof have been reduced to
zero;
fourth, sequentially, to the Class A7, Class A8
and Class A9 Certificates, in that order, until
the Class Certificate Principal Balance of each
such Class has been reduced to zero, such that no
amounts pursuant to this clause shall be
distributed to any such Class unless the Class
Certificate Principal Balance of each Class
having a lower class designation has been reduced
to zero; and
(B) concurrently, to the Group II Senior
Certificates, in proportion to the Class Certificate
Principal Balances thereof, the Group II Senior
Optimal Principal Amount for such Distribution Date,
until the Class Certificate Principal Balances thereof
have been reduced to zero; and
(C) to the Class PO Certificates, the PO
Principal Distribution Amount for such Distribution
Date, until the Class Certificate Principal Balance
thereof has been reduced to zero.
(iv) to the Class PO Certificates, any Class PO
Deferred Amount for such Distribution Date, up to an amount
not to exceed the Junior Optimal Principal Amount for such
Distribution Date, until the Class Certificate Principal
Balance of such Class has been reduced to zero; provided,
that any such amounts distributed to the Class PO
Certificates pursuant to this clause (iv) shall not reduce
the Class Certificate Principal Balance thereof;
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(v) to the Class M Certificates, the Accrued
Certificate Interest thereon for such Distribution Date;
(vi) to the Class M Certificates, any Unpaid Class
Interest Shortfall therefor on such Distribution Date;
(vii) to the Class M Certificates, in reduction of the
Class Certificate Principal Balance thereof, such Class's
Allocable Share of the Junior Optimal Principal Amount on
such Distribution Date;
(viii) to the Class B1 Certificates, the Accrued
Certificate Interest thereon for such Distribution Date;
(ix) to the Class B1 Certificates, any Unpaid Class
Interest Shortfall therefor on such Distribution Date;
(x) to the Class B1 Certificates, in reduction of the
Class Certificate Principal Balance thereof, such Class's
Allocable Share of the Junior Optimal Principal Amount on
such Distribution Date;
(xi) to the Class B2 Certificates, the Accrued
Certificate Interest thereon for such Distribution Date;
(xii) to the Class B2 Certificates, any Unpaid Class
Interest Shortfall therefor on such Distribution Date;
(xiii) to the Class B2 Certificates, in reduction of the
Class Certificate Principal Balance thereof, such Class's
Allocable Share of the Junior Optimal Principal Amount on
such Distribution Date;
(xiv) to the Class B3 Certificates, the Accrued
Certificate Interest thereon for such Distribution Date;
(xv) to the Class B3 Certificates, any Unpaid Class
Interest Shortfall therefor on such Distribution Date;
(xvi) to the Class B3 Certificates, in reduction of the
Class Certificate Principal Balance thereof, such Class's
Allocable Share of the Junior Optimal Principal Amount on
such Distribution Date;
(xvii) to the Class B4 Certificates, the Accrued
Certificate Interest thereon for such Distribution Date;
(xviii) to the Class B4 Certificates, any Unpaid Class
Interest Shortfall therefor on such Distribution Date;
(xix) to the Class B4 Certificates, in reduction of the
Class Certificate Principal Balance thereof, such Class's
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Allocable Share of the Junior Optimal Principal Amount on
such Distribution Date;
(xx) to the Class B5 Certificates, the Accrued
Certificate Interest thereon for such Distribution Date;
(xxi) to the Class B5 Certificates, any Unpaid Class
Interest Shortfall therefor on such Distribution Date; and
(xxii) to the Class B5 Certificates, in reduction of the
Class Certificate Principal Balance thereof, such Class's
Allocable Share of the Junior Optimal Principal Amount on
such Distribution Date.
Notwithstanding the foregoing, amounts otherwise distributable
pursuant to clauses (vii), (x), (xiii), (xvi), (xix) and (xxii)
on any Distribution Date shall be reduced, in inverse order of
priority, by any amount distributed pursuant to clause (iv) on
such date, such that such amount distributed pursuant to clause
(iv) on such date shall be applied first to reduce the amount
distributable pursuant to clause (xxii), and then, to the extent
of any excess, applied second, to reduce the amount distributable
pursuant to clause (xix), third, to reduce the amount
distributable pursuant to clause (xvi), fourth, to reduce the
amount distributable pursuant to clause (xiii), fifth, to reduce
the amount distributable pursuant to clause (x) and sixth, to
reduce the amount distributable pursuant to clause (vii).
(b) On each Distribution Date, the Trustee shall
distribute to the holder of the Class R Certificate any remaining
Available Funds for such Distribution Date after application of
all amounts described in clause (a) of this Section 4.01. Any
distributions pursuant to this clause (b) shall not reduce the
Class Certificate Principal Balance of the Class R Certificate.
(c) If on any Distribution Date the Class Certificate
Principal Balances of the Junior Certificates have each been
reduced to zero, the amount distributable to the Senior
Certificates other than the Class PO Certificates pursuant to
Sections 4.01(a)(iii)(A) and (B) for such Distribution Date and
each succeeding Distribution Date shall be allocated among such
Classes of Senior Certificates, pro rata, on the basis of their
respective Class Certificate Principal Balances immediately prior
to such Distribution Date, regardless of the priorities and
amounts set forth in Sections 4.01(a)(iii)(A) and (B).
(d) If on any Distribution Date (i) the Class
Certificate Principal Balance of the Class M Certificates or any
Class of Class B Certificates for which the related Prepayment
Distribution Trigger was satisfied on such Distribution Date is
reduced to zero and (ii) amounts distributable pursuant to
clauses (ii), (iv) and (v) of the Junior Optimal Principal Amount
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remain undistributed on such Distribution Date after all amounts
otherwise distributable on such date pursuant to clauses (iv)
through (xxii) of Section 4.01(a) have been distributed, such
amounts shall be distributed on such Distribution Date to the
remaining Classes of Junior Certificates in order of priority,
such that no such distribution shall be made to any Class of
Junior Certificates while a prior such Class is outstanding.
(e) On each Distribution Date through the Accretion
Termination Date, amounts allocable to the Class A9 Certificates
pursuant to clauses (a)(i) and (a)(ii) of this Section 4.01 shall
not be distributable to the Class A9 Certificates pursuant to
such clauses but shall instead be (i) added to the Class
Certificate Principal Balance thereof to the extent of the
Accrual Amount for such Distribution Date, and (ii) distributed
to the following Classes of Certificates, in the following order
of priority:
first, before any amounts are distributed pursuant to
Section 4.01(a)(iii), to the Class A7 Certificates, in
reduction of the Class Certificate Principal Balance
thereof, until the Class Certificate Principal Balance
thereof has been reduced to zero;
second, before any amounts are distributed pursuant to
Section 4.01(a)(iii), to the Class A8 Certificates, in
reduction of the Class Certificate Principal Balance
thereof, until the Class Certificate Principal Balance
thereof has been reduced to zero; and
third, to increase the Group I Senior Optimal
Principal Amount for such Distribution Date, as
contemplated in the definition of Adjusted Group I Senior
Optimal Principal Amount, such increase to be applied in
reduction of the respective Class Certificate Principal
Balances of the remaining Group I Senior Certificates
(other than the Class A9 Certificates) pursuant to Section
4.01(a)(iii), until the Certificate Principal Balance of
each remaining Class of Group I Senior Certificates (other
than the Class A9 Certificates) has been reduced to zero;
and
fourth, to the Class A9 Certificates, as Accrued
Certificate Interest thereon.
On each Distribution Date occurring after the Accretion
Termination Date, amounts allocable to the Class A9 Certificates
pursuant to clauses (a)(i) and (a)(ii) of this Section 4.01 shall
be distributable on such Distribution Date pursuant to such
clauses to Holders of the Class A9 Certificates as Accrued
Certificate Interest.
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Section 4.02. Method of Distribution. (a) All
distributions with respect to each Class of Certificates on each
Distribution Date shall be made pro rata among the outstanding
Certificates of such Class, based on the Percentage Interest in
such Class represented by each Certificate. Payments to the
Certificateholders on each Distribution Date will be made by the
Trustee to the Certificateholders of record on the related Record
Date (other than as provided in Section 9.01 respecting the final
distribution) by check or money order mailed to a
Certificateholder at the address appearing in the Certificate
Register, or upon written request by such Certificateholder to
the Trustee made not later than the applicable Record Date, by
wire transfer to a U.S. depository institution acceptable to the
Trustee, or by such other means of payment as such
Certificateholder and the Trustee shall agree.
(b) Each distribution with respect to a Book-Entry
Certificate shall be paid to the Depository, which shall credit
the amount of such distribution to the accounts of its Depository
Participants in accordance with its normal procedures. Each
Depository Participant shall be responsible for disbursing such
distribution to the Certificate Owners that it represents and to
each Financial Intermediary for which it acts as agent. Each
Financial Intermediary shall be responsible for disbursing funds
to the Certificate Owners that it represents. All such credits
and disbursements with respect to a Book-Entry Certificate are to
be made by the Depository and the Depository Participants in
accordance with the provisions of the applicable Certificates.
Neither the Trustee nor the Company shall have any responsibility
therefor except as otherwise provided by applicable law.
(c) The Trustee shall withhold or cause to be withheld
such amounts as it reasonably determines are required by the Code
(giving full effect to any exemptions from withholding and
related certifications required to be furnished by
Certificateholders or Certificate Owners and any reductions to
withholding by virtue of any bilateral tax treaties and any
applicable certification required to be furnished by
Certificateholders or Certificate Owners with respect thereto)
from distributions to be made to Non-U.S. Persons. If the Trustee
reasonably determines that a more accurate determination of the
amount required to be withheld for a distribution can be made
within a reasonable period after the scheduled date for such
distribution, it may hold such distribution in trust for a holder
of a Residual Certificate until such determination can be made.
For the purposes of this paragraph, a "Non-U.S. Person" is an
individual, corporation, partnership or other person other than a
citizen or resident of the United States, a corporation,
partnership or other entity created or organized in or under the
laws of the United States or any political subdivision thereof,
or an estate or trust that is subject to U.S. federal income tax
regardless of the source of its income.
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Section 4.03. Allocation of Losses. (a) On or prior to
each Determination Date, the Company shall determine the amount
of any Realized Loss in respect of each Mortgage Loan that
occurred during the immediately preceding calendar month.
(b) With respect to any Distribution Date, the
principal portion of each Realized Loss (other than any Excess
Loss) shall be allocated as follows:
(i) the applicable PO Percentage of the principal
portion of any such Realized Loss shall be allocated to the
Class PO Certificates until the Class Certificate Principal
Balance thereof has been reduced to zero; and
(ii) the applicable Non-PO Percentage of the principal
portion of any such Realized Loss shall be allocated in the
following order of priority:
first, to the Class B5 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero;
second, to the Class B4 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero;
third, to the Class B3 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero;
fourth, to the Class B2 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero;
fifth, to the Class B1 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero;
sixth, to the Class M Certificates until the Class
Certificate Principal Balance thereof has been reduced
to zero; and
seventh, to the Classes of Senior Certificates
other than the Class PO Certificates, pro rata, in
accordance with their Class Certificate Principal
Balances; provided, that any such loss allocated to
any Class of Accrual Certificates (and any Accrual
Component) shall be allocated (subject to Section
4.03(d)) on the basis of the lesser of (x) the Class
Certificate Principal Balance (or Component Principal
Balance) thereof immediately prior to the applicable
Distribution Date and (y) the Class Certificate
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Principal Balance (or Component Principal Balance)
thereof on the Closing Date (as reduced by any
Realized Losses previously allocated thereto).
(c) With respect to any Distribution Date, the
principal portion of any Excess Loss (other than Excess
Bankruptcy Losses attributable to Debt Service Reductions) shall
be allocated as follows: (1) the PO Percentage of any such loss
shall be allocated to the Class PO Certificates, and (2) the
Non-PO Percentage of any such loss shall be allocated to each
Class of Certificates other than the Class PO Certificates, pro
rata, based on the respective Class Certificate Principal
Balances thereof; provided, that any such loss allocated to any
Class of Accrual Certificates (and any Accrual Component) shall
be allocated (subject to Section 4.03(d)) on the basis of the
lesser of (x) the Class Certificate Principal Balance (or
Component Principal Balance) thereof immediately prior to the
applicable Distribution Date and (y) the Class Certificate
Principal Balance (or Component Principal Balance) thereof on the
Closing Date (as reduced by any Realized Losses previously
allocated thereto).
(d) Any Realized Losses allocated to a Class of
Certificates pursuant to Section 4.03(b) or (c) shall be
allocated among the Certificates of such Class in proportion to
their respective Certificate Principal Balances. In addition, any
Realized Losses allocated to any Class of Component Certificates
on a Distribution Date shall be allocated in reduction of the
Component Principal Balances of the related Components (other
than any Notional Component) in proportion to their respective
Component Principal Balances immediately prior to such
Distribution Date. Any allocation of Realized Losses pursuant to
this paragraph (d) shall be accomplished by reducing the
Certificate Principal Balance (or, in the case of any Component,
the Component Principal Balance) of the related Certificates (or
Components) on the related Distribution Date in accordance with
Section 4.03(e).
(e) Realized Losses allocated in accordance with this
Section 4.03 shall be allocated on the Distribution Date in the
month following the month in which such loss was incurred and, in
the case of the principal portion thereof, after giving effect to
distributions made on such Distribution Date, except that the
aggregate amount of Realized Losses to be allocated to the Class
PO Certificates on such Distribution Date will be taken into
account in determining distributions in respect of any Class PO
Deferred Amount for such date.
(f) On each Distribution Date, the Company shall
determine the Subordinate Certificate Writedown Amount, if any.
Any such Subordinate Certificate Writedown Amount shall effect a
corresponding reduction in the Certificate Principal Balance of
the Subordinate Certificates, which reduction shall occur on such
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Distribution Date after giving effect to distributions made on
such Distribution Date.
(g) Notwithstanding the foregoing, no such allocation
of any Realized Loss shall be made on a Distribution Date to a
Class of Certificates to the extent that such allocation would
result in the reduction of the aggregate Certificate Principal
Balances of all the Certificates as of such Distribution Date,
after giving effect to all distributions and prior allocations of
Realized Losses on such date, to an amount less than the
aggregate Scheduled Principal Balance of the Mortgage Loans as of
the first day of the month of such Distribution Date, less any
Deficient Valuations occurring on or prior to the Bankruptcy
Coverage Termination Date (such limitation, the "Loss Allocation
Limitation").
Section 4.04. Monthly Advances; Purchases of Defaulted
Mortgage Loans. (a) The Company shall be required to make Monthly
Advances in the manner and to the extent provided herein. Prior
to the close of business on each Determination Date, the Company
shall determine (i) the amount of the Monthly Advance which it is
required to make on the related Distribution Date and (ii)
whether it has elected to purchase any Defaulted Mortgage Loan or
Loans on such Distribution Date. If the Company so elects to
purchase any Defaulted Mortgage Loans (or is required to purchase
any Mortgage Loan pursuant to Section 2.02 or 2.03(a) or purchase
any Modified Mortgage Loan pursuant to Section 3.01(c)), no
Monthly Advance shall be required with respect thereto for the
month in which such purchase occurs (or, in the case of a
purchase of a Modified Mortgage Loan, in the month in which the
Purchase Price thereof is required to be deposited in the
Certificate Account). The Company shall include information as to
each of such determinations in the Servicer's Certificate
furnished by it to the Trustee in accordance with Section 4.06
and shall be obligated to deposit in the Certificate Account
pursuant to Section 3.02(d) on or before 11:00 a.m. New York time
on the Business Day next preceding the following Distribution
Date the respective amounts applicable to such determinations
appearing in such Servicer's Certificate. Upon receipt by the
Trustee of written notification signed by a Servicing Officer of
any such deposit relating to the purchase by the Company of such
a Mortgage Loan, the Trustee shall release to the Company the
related Mortgage File and shall execute and deliver such
instruments of transfer or assignment, in each case without
recourse, as shall be necessary to vest in the Company any
Mortgage Loan released pursuant hereto.
(b) In the event that the Company deposits or expects
to deposit less than the Available Funds required to be deposited
by it pursuant to Section 3.02(d), the Company shall so notify
the Trustee no later than 9:00 a.m. on the Business Day preceding
the related Distribution Date, and the amount so deposited, if
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any, shall be deemed to have been deposited first pursuant to
clause (i) of the definition of Available Funds, second pursuant
to clause (iii) of the definition of Available Funds, and third
pursuant to clause (ii) of the definition of Available Funds.
Such notice shall specify each Mortgage Loan delinquent as of the
preceding Determination Date. In such event, the Trustee shall
make any Monthly Advance required to be made hereunder, in the
manner and to the extent required; provided, the Trustee shall
not be so obligated if prohibited by applicable law.
(c) In the event that the Company is succeeded
hereunder as servicer, the obligation to make Monthly Advances in
the manner and to the extent required by Section 4.04(a) shall be
assumed by the successor servicer (subject to Section 7.02).
Section 4.05. Statements to Certificateholders. (a)
Each month, at least two Business Days prior to each Distribution
Date, the Company shall deliver to the Trustee for mailing to
each Certificateholder, and the Trustee shall mail to each
Certificateholder on such Distribution Date, a statement (each, a
"Distribution Date Statement") substantially in the form of
Exhibit J hereto, setting forth:
(i) The amount of such distribution to the
Certificateholders of each Class (and in respect of any
Component), other than any Notional Certificates (and any
Notional Component), allocable to principal, separately
identifying the aggregate amount of any Principal
Prepay-ments included therein (including, for this purpose,
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 purchases or
substitutions are being distributed on such Distribution
Date);
(ii) The amount of such distribution to the
Certificateholders of each Class (other than any Class of
Principal Only Certificates) allocable to interest,
including any Accrual Amount added to the Class Certificate
Principal Balance or Component Principal Balance of any
Class of Accrual Certificates or any Accrual Components;
(iii) The amount of servicing compensation paid to the
Company during the month preceding the month of
distribution in respect of the Mortgage Loans and such
other customary information as the Company deems necessary
or desirable to enable Certificateholders to prepare their
tax returns;
(iv) The Pool Scheduled Principal Balance and the
aggregate number of the Mortgage Loans on the preceding Due
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Date after giving effect to all distributions allocable to
principal made on such Distribution Date;
(v) The Class Certificate Principal Balance (or
Notional Principal Balance) of each Class, the Component
Principal Balance of each Component and the Certificate
Principal Balance (or Notional Principal Balance) of a
Single Certificate of each Class after giving effect to (i)
all distributions allocable to principal (or reductions in
the Notional Principal Balance, in the case of the Notional
Certificates, or the addition of any Accrual Amount, in the
case of any Class of Accrual Certificates) made on such
Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Certificate Writedown Amount for
such Distribution Date;
(vi) The Pay-out Rate applicable to each Class of
Certificates;
(vii) The book value and unpaid principal balance of 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, and the
number of the related Mortgage Loans;
(viii) The aggregate Scheduled Principal Balances and
number of Mortgage Loans which, as of the close of business
on the last day of the month preceding the related
Distribution Date, were (a) delinquent as to a total of (x)
30-59 days, (y) 60-89 days and (z) 90 days or more, and (b)
in foreclosure;
(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);
(x) The Certificate Interest Rates of any LIBOR
Certificates, any COFI Certificates and the Class S
Certificates applicable to the Interest Accrual Period
relating to such Distribution Date and such Class;
(xi) The Senior Percentage, Group I Senior Percentage,
Group II Senior Percentage and Junior Percentage for such
Distribution Date; and
(xii) The Senior Prepayment Percentage, Group I Senior
Prepayment Percentage, Group II Senior Prepayment
Percentage and Junior Prepayment Percentage for such
Distribution Date.
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In the case of information furnished pursuant to
clauses (i) through (iii) above, the amounts shall be expressed
as a dollar amount per Single Certificate.
In connection with any proposed transfer of a
Certificate that is purported to be made in reliance on Rule 144A
under the Securities Act, the Company shall be responsible for
furnishing such information as may be required thereunder to a
proposed transferee. In furtherance of the Company's obligations
hereunder, the Company hereby instructs the Trustee, at the
Company's expense and on its behalf, and the Trustee agrees, to
promptly make available to the proposed transferee, upon request
of the holder, (i) all statements furnished to Certificateholders
pursuant to this Section 4.05(a) on previous Distribution Dates,
(ii) all certificates furnished to the Trustee pursuant to
Section 4.06 in prior months, (iii) Officer's Certificates
furnished to the Trustee pursuant to Section 3.12 for the two
years preceding such request, (iv) reports of independent
accountants furnished to the Trustee pursuant to Section 3.13 for
the two years preceding such request, (v) a copy of the Private
Placement Memorandum relating to such Certificate, together with
any amendments or supplements thereto issued by the Company
(which copy shall be furnished to the Trustee by the Company),
and (vi) the Company's Current Report on Form 8-K, dated the
Closing Date, relating to the Mortgage Loans; provided, however,
that the Trustee shall in no event be required to make available
such statements or certificates pursuant to clauses (i) and (ii)
above relating to Distribution Dates occurring more than
twenty-four months preceding the month in which such request was
received; provided, further, however, that notwithstanding the
Trustee's agreement as aforesaid to provide such materials to a
proposed transferee, the Trustee does not assume, and shall not
thereby be deemed to have assumed, any responsibility for
compliance by the Company with Rule 144A (subject to the
Trustee's agreement set forth in the second sentence of this
paragraph) and shall be entitled to include a notice with such
statements or certificates to the effect that such materials have
not been prepared or assembled by the Trustee and that the
Trustee assumes no responsibility for the adequacy, sufficiency
or contents thereof. In connection with any such proposed
transfer, the Company shall make available to the proposed
holder, at the request of the related transferor, such additional
information, if any, as may be required to be delivered pursuant
to Rule 144A(d)(4).
(b) On or prior to January 20th of each year,
commencing in 1998, the Company shall furnish to the Trustee for
mailing to each Person who at any time during the previous
calendar year was a Certificateholder a statement containing
information required to be provided pursuant to the Code.
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Section 4.06. Servicer's Certificate. Each month, not
later than the second Business Day next preceding each
Distribution Date, the Company shall deliver to the Trustee a
completed Servicer's Certificate.
Section 4.07. Reports of Foreclosures and Abandonments
of Mortgaged Property. The Trustee (or the Company on behalf of
the Trustee) shall, in each year beginning after 1997, make the
reports of foreclosures and abandonments of any Mortgaged
Property as required by section 6050J of the Code. In order to
facilitate this reporting process, the Company, on or before
January 15th of each year, shall provide to the Trustee reports
relating to each instance occurring during the previous calendar
year in which the Company (i) on behalf of the Trustee acquires
an interest in a Mortgaged Property through foreclosure or other
comparable conversion in full or partial satisfaction of a
Mortgage Loan, or (ii) knows or has reason to know that a
Mortgaged Property has been abandoned. Reports from the Company
shall be in form and substance sufficient to meet the reporting
requirements imposed by section 6050J of the Code.
Section 4.08. Reduction of Servicing Fees by
Compensating Interest Payments. The aggregate amount of the
Servicing Fees subject to retention by the Company as servicer in
respect of any Distribution Date shall be reduced by the amount
of any Compensating Interest Payment for such Distribution Date.
ARTICLE V
THE CERTIFICATES
Section 5.01. The Certificates. (a) The Certificates
shall be substantially in the forms set forth in Exhibit A
hereto, as applicable, and shall, on original issue, be executed
by the Trustee, not in its individual capacity but solely as
Trustee, and countersigned and delivered by the Trustee to or
upon the order of the Company as provided in Article II.
(b) The Certificates shall be issued in an aggregate
Initial Certificate Principal Balance of $350,246,603.96. Such
aggregate original principal balance shall be divided among the
Classes having the designations, Class Certificate Principal
Balances, Certificate Interest Rates and minimum denominations as
follows:
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Initial
Class
Certificate Certificate
Principal Interest Minimum
Designation Balance Rate Denominations
- ----------- ------- ---- -------------
Class A1 $31,542,857.00 9.000% $25,000
Class A2 5,674,200.00 7.200 25,000
Class A3 149,968,896.00 7.150 25,000
Class A4 16,769,592.00 7.125 25,000
Class A5 35,353,749.00 8.000 25,000
Class A6 12,029,747.00 7.125 25,000
Class A7 4,180,000.00 7.500 25,000
Class A8 2,760,000.00 7.500 25,000
Class A9 6,800,000.00 7.500 25,000
Class A10 10,000,000.00 8.000 25,000
Class A11 40,000,000.00 7.500 25,000
Class A12 20,000,000.00 7.250 25,000
Class PO 281,981.71 0.000 250,000
Class M 5,253,699.00 7.500 100,000
Class B1 3,502,466.00 7.500 100,000
Class B2 2,626,849.00 7.500 100,000
Class B3 1,751,233.00 7.500 250,000
Class B4 525,369.00 7.500 250,000
Class B5 1,225,865.25 7.500 250,000
Class S (1) (1) 12,500,000
Class R 100.00 7.150 100
(1) The Class S Certificates are issued with an initial
Notional Principal Balance of $336,919,958 and shall bear
interest at the Strip Rate.
(c) The Certificates shall be issuable in registered
form only. The Book-Entry Certificates will be evidenced by one
or more certificates, beneficial ownership of which will be held
in the minimum dollar denominations in Certificate Principal
Balance or Notional Principal Balance, as applicable, specified
in Section 5.01(b), and integral multiples of $1,000 in excess
thereof. The Non-Book-Entry Certificates other than the Residual
Certificate shall each be issued in the minimum dollar
denominations in Certificate Principal Balance or Notional
Principal Balance, as applicable, specified in Section 5.01(b),
and integral multiples of $1,000 (or $1,000,000 in the case of
the Class S Certificates) in excess thereof (and, if necessary,
in the amount of the remaining Class Certificate Principal
Balance or Notional Principal Balance, as applicable, of each
Class, in the case of one Certificate of such Class). The
Residual Certificate shall be issued as a single certificate
evidencing the entire Class Certificate Principal Balance of such
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Class and having a Percentage Interest of 100%. If necessary, one
Certificate of each Class of Book-Entry Certificates and the
Class S Certificates may evidence an additional amount equal to
the remainder of the Class Certificate Principal Balance (or
Notional Principal Balance) of such Class.
(d) The Certificates shall be executed by manual or
facsimile signature on behalf of the Trustee by an authorized
officer under its seal, which may be in facsimile form and be
imprinted or otherwise reproduced thereon. Certificates bearing
the manual or facsimile signatures of individuals who were, at
the time when such signatures were affixed, authorized to sign on
behalf of the Trustee shall bind the Trustee, notwithstanding
that such individuals or any of them have ceased to be so
authorized prior to the authentication and delivery of such
Certificates or did not hold such offices at the date of such
Certificate. No Certificate shall be entitled to any benefit
under this Agreement, or be valid for any purpose, unless such
Certificate shall have been manually countersigned by the Trustee
substantially in the forms set forth in Exhibit A hereto, and
such countersignature upon any Certificate shall be conclusive
evidence, and the only evidence, that such Certificate has been
duly executed and delivered hereunder. All Certificates issued on
the Closing Date shall be dated the Closing Date; all
Certificates issued thereafter shall be dated the date of their
countersignature.
(e) The Strip Rate for each Interest Accrual Period
shall be determined by the Company and included in the Servicer's
Certificate for the related Distribution Date.
Section 5.02. Registration of Transfer and Exchange of
Certificates. (a) The Trustee shall cause to be kept at an office
or agency in the city in which the Corporate Trust Office of the
Trustee is located or in the City of New York, New York a
Certificate Register in which, subject to such reasonable
regulations as it may prescribe, the Trustee shall provide for
the registration of Certificates and of transfers and exchanges
of Certificates as herein provided. The Trustee shall initially
serve as Certificate Registrar for the purpose of registering
Certificates and transfers and exchanges of Certificates as
herein provided.
Subject to Sections 5.02(b) and 5.02(c), upon
surrender for registration of transfer of any Certificate at the
Corporate Trust Office, the Trustee shall execute, authenticate
and deliver, in the name of the designated transferee or
transferees, one or more new Certificates of the same Class in
authorized denominations of a like Percentage Interest.
At the option of a Certificateholder, Certificates may
be exchanged for other Certificates of authorized denominations
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of a like Class and Percentage Interest, upon surrender of the
Certificates to be exchanged at any such office or agency.
Whenever any Certificates are so surrendered for exchange the
Trustee shall execute, countersign and deliver the Certificates
which the Certificateholder making the exchange is entitled to
receive. Every Certificate presented or surrendered for
registration of transfer or exchange shall be accompanied by a
written instrument of transfer in form satisfactory to the
Trustee and the Certificate Registrar duly executed by the Holder
thereof or his attorney duly authorized in writing.
No service charge shall be made for any registration
of transfer or exchange of Certificates, but the Trustee may
require payment of a sum sufficient to cover any tax or
governmental charge that may be imposed in connection with any
transfer or exchange of Certificates.
All Certificates surrendered for registration of
transfer and exchange shall be canceled and subsequently
destroyed by the Trustee and a certificate of destruction shall
be delivered by the Trustee to the Company.
(b) No legal or beneficial interest in all or any
portion of the Residual Certificates may be transferred directly
or indirectly to (i) a Disqualified Organization or an agent of a
Disqualified Organization (including a broker, nominee, or
middleman), (ii) an entity that holds REMIC residual securities
as nominee to facilitate the clearance and settlement of such
securities through electronic book-entry changes in accounts of
participating organizations (a "Book-Entry Nominee"), or (iii) an
individual, corporation, partnership or other person unless such
transferee (A) is not a Non-U.S. Person or (B) is a Non-U.S.
Person that holds a Residual Certificate in connection with the
conduct of a trade or business within the United States and has
furnished the transferor and the Trustee with an effective
Internal Revenue Service Form 4224 or (C) is a Non-U.S. Person
that has delivered to both the transferor and the Trustee an
opinion of a nationally recognized tax counsel to the effect that
the transfer of a Residual Certificate to it is in accordance
with the requirements of the Code and the regulations promulgated
thereunder and that such transfer of a Residual Certificate will
not be disregarded for federal income tax purposes (any such
person who is not covered by clause (A), (B) or (C) above being
referred to herein as a "Non-permitted Foreign Holder"), and any
such purported transfer shall be void and have no effect. The
Trustee shall not execute, and shall not authenticate and
deliver, a Residual Certificate in connection with any transfer
thereof unless the transferor shall have provided to the Trustee
an affidavit, substantially in the form attached as Exhibit F
hereto, signed by the transferee, to the effect that the
transferee is not such a Disqualified Organization, an agent
(including a broker, nominee, or middleman) for any entity as to
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which the transferee has not received a substantially similar
affidavit, a Book-Entry Nominee or a Non-permitted Foreign
Holder, which affidavit shall contain the consent of the
transferee to any such amendments of this Agreement as may be
required to further effectuate the foregoing restrictions on
transfer of the Residual Certificates to Disqualified
Organizations, Book-Entry Nominees or Non-permitted Foreign
Holders, and an agreement by the Transferee that it will not
transfer a Residual Certificate without providing to the Trustee
an affidavit substantially in the form attached as Exhibit F
hereto and a letter substantially in the form attached as Exhibit
G hereto. Such affidavit shall also contain the statement of the
transferee that (i) it does not have the intention to impede the
assessment or collection of any federal, state or local taxes
legally required to be paid with respect to the Residual
Certificates and (ii) it understands that it may incur tax
liabilities in excess of cash flows generated by a Residual
Certificate and that it intends to pay taxes associated with
holding a Residual Certificate as they become due.
The affidavit described in the preceding paragraph, if
not executed in connection with the initial issuance of the
Residual Certificates, shall be accompanied by a written
statement in the form attached as Exhibit G hereto, signed by the
transferor, to the effect that as of the time of the transfer,
the transferor has (i) no actual knowledge that the transferee is
a Disqualified Organization, Book-Entry Nominee or Non-permitted
Foreign Holder, (ii) no reason to believe that the transferee has
the intention to impede the assessment or collection of any
federal, state or local taxes legally required to be paid with
respect to a Residual Certificate, and (iii) conducted a
reasonable investigation and found that the transferee had
historically paid its debts as they came due and found no
significant evidence to indicate that the transferee will not
continue to pay its debts as they become due. The Residual
Certificates shall bear a legend referring to the foregoing
restrictions contained in this paragraph and the preceding
paragraph.
Upon notice to the Company that any legal or
beneficial interest in any portion of the Residual Certificates
has been transferred, directly or indirectly, to a Disqualified
Organization or agent thereof (including a broker, nominee, or
middleman) in contravention of the foregoing restrictions, (i)
such transferee shall be deemed to hold the Residual Certificate
in constructive trust for the last transferor who was not a
Disqualified Organization or agent thereof, and such transferor
shall be restored as the owner of such Residual Certificate as
completely as if such transfer had never occurred, provided that
the Company may, but is not required to, recover any
distributions made to such transferee with respect to the
Residual Certificate and return such recovery to the transferor,
and (ii) the Company agrees to furnish to the Internal Revenue
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Service and to any transferor of the Residual Certificate or such
agent (within 60 days of the request therefor by the transferor
or agent) such information necessary to the application of
section 860E(e) of the Code as may be required by the Code,
including but not limited to the present value of the total
anticipated excess inclusions with respect to the Residual
Certificate (or portion thereof) for periods after such transfer.
At the election of the Company, the cost to the Company of
computing and furnishing such information may be charged to the
transferor or such agent referred to above; however, the Company
shall in no event be excused from furnishing such information.
The restrictions on transfers of the Residual
Certificates set forth in the preceding three paragraphs shall
cease to apply to transfers (and the applicable portions of the
legend to the Residual Certificates may be deleted) after
delivery to the Trustee of an Opinion of Counsel to the effect
that the elimination of such restrictions will not cause the
REMIC established hereunder to fail to qualify as a REMIC at any
time that the Certificates are outstanding.
No transfer of a Restricted Certificate shall be made
unless such transfer is made pursuant to an effective
registration statement under the Securities Act of 1933, as
amended (the "Act"), and any applicable state securities laws, in
each case as evidenced by an Officer's Certificate, or is exempt
from the registration requirements of the Act and any applicable
state securities laws. In the event of such registration, any
restrictive legends set forth in the form of the relevant
Restricted Certificate in Exhibit A hereto with respect to the
Act and state securities law restrictions shall be removed by the
Trustee upon request of the Holder thereof and automatically upon
exchange or registration of transfer thereof. As a condition to
any transfer that is to be made in reliance upon an exemption
from the Act and such laws of a (i) Class S Certificate or (ii)
Restricted Junior Certificate to any person other than a QIB (as
certified by the proposed transferee in the form of assignment
attached to the related Certificate), either (x) the Trustee
shall require the transferee to execute an investment letter in
the form substantially as set forth in Exhibit I hereto or in
such other form as may be acceptable to the Trustee, certifying
as to the facts surrounding such transfer, or (y) in lieu of such
investment letter, the Trustee may accept a written Opinion of
Counsel (in form and substance acceptable to the Trustee) that
such proposed transfer may be made pursuant to an exemption from
the Act. As an additional condition to any transfer of a
Restricted Certificate, either (i) the transferor and the
transferee shall complete the form of assignment attached to the
Certificate proposed to be transferred, or (ii) the Trustee shall
have received the above-referenced Opinion of Counsel. The holder
of any Restricted Certificate desiring to effect the transfer
thereof to a person other than a QIB shall, and hereby
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agrees to, comply with any applicable conditions set forth in the
preceding two sentences and indemnify the Trustee and the Company
against any liability that may result if the transfer thereof is
not so exempt or is not made in accordance with such federal and
state laws. Such agreement to so indemnify the Trustee and the
Company shall survive the termination of this Agreement.
Notwithstanding the foregoing, no Opinion of Counsel or
investment letter shall be required upon the original issuance of
(i) the Restricted Junior Certificates to the Initial Purchaser
(as defined in the Private Placement Memorandum) or its nominee
and (ii) the Class S Certificates to the Company or upon any
subsequent transfer of any Class S Certificate by the Company,
provided that if any Restricted Junior Certificates are, at the
request of the Initial Purchaser, registered in the name of its
nominee, the Initial Purchaser shall be deemed to acknowledge and
agree with the Company and the Trustee that no transfer of a
beneficial interest in such Certificates will be made without
registering such Certificates in the name of the transferee,
which shall be a Person other than such nominee. Any opinion or
letter required pursuant to this paragraph shall not be at the
expense of the Trust Fund or the Trustee.
(c) (i) No transfer of an ERISA-Restricted Certificate
in the form of a Definitive Certificate shall be made to any
Person unless the Trustee has received (A) a certificate
(substantially in the form of Exhibit E or such other form as is
acceptable to the Company and the Trustee) from such transferee
to the effect that such transferee (i) is not a Plan or a Person
that is using the assets of a Plan to acquire such
ERISA-Restricted Certificate or (ii) is an insurance company
investing assets of its general account and the exemptions
provided by Section III(a) of Department of Labor Prohibited
Transaction Class Exemption 95-60, 60 Fed. Reg. 35925 (July 12,
1995) (the "Exemptions") apply to the transferee's acquisition
and holding of any ERISA-Restricted Certificate or (B) an opinion
of counsel satisfactory to the Trustee and the Company to the
effect that the purchase and holding of such a Certificate will
not constitute or result in the assets of the Trust Fund being
deemed to be "plan assets" subject to the prohibited transactions
provisions of ERISA or Section 4975 of the Code and will not
subject the Trustee or the Company to any obligation in addition
to those undertaken in the Agreement; provided, however, that the
Trustee will not require such certificate or opinion in the event
that, as a result of a change of law or otherwise, counsel
satisfactory to the Trustee has rendered an opinion to the effect
that the purchase and holding of an ERISA-Restricted Certificate
by a Plan or a Person that is purchasing or holding such a
Certificate with the assets of a Plan will not constitute or
result in a prohibited transaction under ERISA or Section 4975 of
the Code. The preparation and delivery of the certificate and
opinions referred to above shall not be an expense of the Trust
Fund, the Trustee or the Company. Notwithstanding the foregoing,
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no opinion or certificate shall be required for the initial
issuance of the ERISA-Restricted Certificates.
(ii) No transfer of a Residual Certificate shall be
made to any Person unless the Trustee has received a
certification (substantially in the form of paragraph 4 of
Exhibit F) from such transferee to the effect that, among other
things, such transferee is not a Plan or a Person that is using
the assets of a Plan to acquire any such Certificate. The
preparation and delivery of such certificate shall not be an
expense of the Trust Fund, the Trustee or the Company.
(d) Subject to Section 8.01(i) hereof, the Trustee may
conclusively rely upon any certificate, affidavit or opinion
delivered pursuant to Section 5.02(b) or (c). Any certificate or
affidavit required to be delivered by a transferee under this
Section 5.02 may be executed and delivered in the name of such
transferee by its attorney-in-fact duly authorized in writing in
form and substance satisfactory to the Trustee.
(e) Except as to any additional Certificate of any
Class of Book-Entry Certificates held in physical certificated
form pursuant to Section 5.02(g) or any Restricted Junior
Certificate of any Class of Book-Entry Certificates that is
transferred to an entity other than a QIB, the Book-Entry
Certificates shall, subject to Section 5.02(f), at all times
remain registered in the name of the Depository or its nominee
and at all times: (i) registration thereof may not be transferred
by the Trustee except to another Depository; (ii) the Depository
shall maintain book-entry records with respect to the Certificate
Owners and with respect to ownership and transfers of such
Certificates; (iii) ownership and transfers of registration of
the Certificates issued in book-entry form on the books of the
Depository shall be governed by applicable rules established by
the Depository and the rights of Certificate Owners with respect
to Book-Entry Certificates shall be governed by applicable law
and agreements between such Certificate Owners and the
Depository, Depository Participants, and indirect participating
firms; (iv) the Depository may collect its usual and customary
fees, charges and expenses from its Depository Participants; (v)
the Trustee shall deal with the Depository, Depository
Participants and indirect participating firms as authorized
representatives of the Certificate Owners of the Certificates
issued in book-entry form for all purposes including the making
of payments due on the Book-Entry Certificates and exercising the
rights of Holders under this Agreement, and requests and
directions for and votes of such representatives shall not be
deemed to be inconsistent if they are made with respect to
different Certificate Owners; (vi) the Trustee may rely and shall
be fully protected in relying upon information furnished by the
Depository with respect to its Depository Participants and
furnished by the Depository Participants with respect to indirect
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participating firms and persons shown on the books of such
indirect participating firms as direct or indirect Certificate
Owners; (vii) Certificate Owners shall not be entitled to
certificates for the Book-Entry Certificates and (viii) the
Trustee may establish a reasonable record date in connection with
solicitations of consents from or voting by Certificateholders
and give notice to the Depository of such record date.
All transfers by Certificate Owners of Book-Entry
Certificates shall be made in accordance with the procedures
established by the Depository Participant or brokerage firm
representing such Certificate Owner. Each Depository Participant
shall only transfer Book-Entry Certificates of Certificate Owners
it represents or of brokerage firms for which it acts as agent in
accordance with the Depository's normal procedures. Except as
provided herein, the Trustee shall have no duty to monitor or
restrict the transfer of Certificates or interests therein, and
shall have no liability for any transfer, including any transfer
made through the book-entry facilities of the Depository or
between or among Depository Participants or Certificate Owners,
made in violation of applicable restrictions set forth herein,
except in the event of the failure of the Trustee to perform its
duties and fulfill its obligations under this Agreement.
(f) If (x)(i) the Company or the Depository advises
the Trustee in writing that the Depository is no longer willing,
qualified or able to properly discharge its responsibilities as
Depository, and (ii) the Trustee or the Company is unable to
locate a qualified successor, (y) the Company at its option
advises the Trustee in writing that it elects to terminate the
book-entry system through the Depository or (z) after the
occurrence of an Event of Default, Certificate Owners
representing not less than 51% of the aggregate Voting Rights
allocated to the Book-Entry Certificates together advise the
Trustee and the Depository through the Depository Participants in
writing that the continuation of a book-entry system through the
Depository is no longer in the best interests of the Certificate
Owners, the Trustee shall notify all Certificate Owners, through
the Depository, of the occurrence of any such event and of the
availability of Definitive Certificates to Certificate Owners
requesting the same. Upon surrender to the Trustee of such
Certificates by the Depository, accompanied by registration
instructions from the Depository for registration, the Trustee
shall issue the Definitive Certificates. Neither the Company nor
the Trustee shall be liable for any delay in delivery of such
instructions and may conclusively rely on, and shall be protected
in relying on, such instructions. Upon the issuance of Definitive
Certificates all references herein to obligations imposed upon or
to be performed by the Depository shall be deemed to be imposed
upon and performed by the Trustee, to the extent applicable
with respect to such Definitive Certificates and the
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Trustee shall recognize the Holders of the Definitive
Certificates as Certificateholders hereunder.
(g) On or prior to the Closing Date, there shall be
delivered to the Depository one certificate for each Class of
Book-Entry Certificates registered in the name of the
Depository's nominee, Cede & Co. The face amount of each such
Certificate shall represent 100% of the initial Class Certificate
Principal Balance thereof, except for such amount that does not
constitute an acceptable denomination to the Depository. An
additional Certificate of each Class of Book-Entry Certificates
may be issued evidencing such remainder and, if so issued, will
be held in physical certificated form by the Holders thereof.
Each Certificate issued in book-entry form shall bear the
following legend:
"Unless this Certificate is presented by an authorized
representative of The Depository Trust Company, a New York
corporation ("DTC"), to Issuer or its agent for registration of
transfer, exchange, or payment, and any certificate issued is
registered in the name of Cede & Co. or in such other name as
requested by an authorized representative of DTC (and any payment
is made to Cede & Co. or to such other entity as is requested by
an authorized representative of DTC), ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has
an interest herein."
Section 5.03. Mutilated, Destroyed, Lost or Stolen
Certificates. If (a) any mutilated Certificate is surrendered to
the Certificate Registrar, or the Certificate Registrar receives
evidence to its satisfaction of the destruction, loss or theft of
any Certificate and (b) there is delivered to the Company, the
Certificate Registrar and the Trustee such security or indemnity
as may be required by them to save each of them harmless, then,
in the absence of notice to the Certificate Registrar or the
Trustee that such Certificate has been acquired by a bona fide
purchaser, the Trustee shall execute, countersign and deliver, in
exchange for or in lieu of any such mutilated, destroyed, lost or
stolen Certificate, a new Certificate of like tenor, Class and
Percentage Interest. In connection with the issuance of any new
Certificate under this Section 5.03, the Trustee may require the
payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in relation thereto and
any other expenses (including the fees and expenses of the
Trustee and the Certificate Registrar) connected therewith. Any
duplicate Certificate issued pursuant to this Section 5.03 shall
constitute complete and indefeasible evidence of ownership in the
Trust Fund, as if originally issued, whether or not the lost,
stolen or destroyed Certificate shall be found at any time.
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Section 5.04. Persons Deemed Owners. Prior to due
presentation of a Certificate for registration of transfer, the
Company, the Trustee, the Certificate Registrar and any agent of
the Company, the Trustee or the Certificate Registrar may treat
the person in whose name any Certificate is registered as the
owner of such Certificate for the purpose of receiving
distributions pursuant to Section 4.01 and for all other purposes
whatsoever, and neither the Company, the Trustee, the Certificate
Registrar nor any agent of the Company, the Trustee or the
Certificate Registrar shall be affected by any notice to the
contrary.
Section 5.05. Access to List of Certificateholders'
Names and Addresses. The Certificate Registrar will furnish or
cause to be furnished to the Company, within 15 days after
receipt by the Certificate Registrar of request therefor from the
Company in writing, a list, in such form as the Company may
reasonably require, of the names and addresses of the
Certificateholders as of the most recent Record Date for payment
of distributions to Certificateholders. If three or more
Certificateholders (hereinafter referred to as "applicants")
apply in writing to the Trustee, and such application states that
the applicants desire to communicate with other
Certificateholders with respect to their rights under this
Agreement or under the Certificates and is accompanied by a copy
of the communication which such applicants propose to transmit,
then the Trustee shall, within five Business Days after the
receipt of such application, afford such applicants access during
normal business hours to the most recent list of
Certificateholders held by the Trustee. If such list is as of a
date more than 90 days prior to the date of receipt of such
applicants' request, the Trustee shall promptly request from the
Certificate Registrar a current list as provided above, and shall
afford such applicants access to such list promptly upon receipt.
Every Certificateholder, by receiving and holding a Certificate,
agrees with the Certificate Registrar and the Trustee that
neither the Certificate Registrar nor the Trustee shall be held
accountable by reason of the disclosure of any such information
as to the names and addresses of the Certificateholders
hereunder, regardless of the source from which such information
was derived.
Section 5.06. Representation of Certain
Certificateholders. The fiduciary of any Plan which becomes a
Holder of a Certificate, by virtue of its acceptance of such
Certificate, will be deemed to have represented and warranted to
the Trustee and the Company that such Plan is an "accredited
investor" as defined in Rule 501(a)(1) of Regulation D
promulgated by the Securities and Exchange Commission under the
Securities Act of 1933.
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Section 5.07. Determination of COFI. (a) If the
outstanding Certificates include any COFI Certificates, then on
each COFI Determination Date the Trustee shall determine the
value of COFI on the basis of the most recently available
Information Bulletin referred to in the definition of "COFI". The
establishment of COFI by the Trustee and the Trustee's subsequent
calculation of the rates of interest applicable to the COFI
Certificates for each Interest Accrual Period shall (in the
absence of manifest error) be final and binding. During each
Interest Accrual Period, the Certificate Interest Rate for the
COFI Certificates for the current and immediately preceding
Interest Accrual Period shall be made available by the Trustee to
Certificate Owners and Certificateholders at the following
telephone number: (617) 664-5500.
(b) The failure by the Federal Home Loan Bank of San
Francisco to publish COFI for a period of 65 calendar days will
constitute an "Alternative Rate Event" for purposes hereof. Upon
the occurrence of an Alternative Rate Event, the Company will
calculate the Certificate Interest Rates for the COFI
Certificates for the subsequent Interest Accrual Periods by
using, in place of COFI, (i) the replacement index, if any,
published or designated by the Federal Home Loan Bank of San
Francisco or (ii) if no replacement index is so published or
designated, an alternative index to be selected by the Company
that has performed, or that the Company expects to perform, in a
manner substantially similar to COFI. At the time an alternative
index is first selected by the Company, the Company shall
determine the average number of basis points, if any, by which
the alternative index differed from COFI for such period as the
Company, in its sole discretion, reasonably determines to reflect
fairly the long-term difference between COFI and the alternative
index, and shall adjust the alternative index by such average.
The Company shall select a particular index as an alternative
only if it receives an Opinion of Counsel to the effect that the
selection of such index will not cause any REMIC established
hereunder to fail to qualify as a REMIC for federal income tax
purposes. In the absence of manifest error, the selection of any
alternative index as provided by this Section 5.07(b) shall be
final and binding for each subsequent Interest Accrual Period.
Upon the occurrence of an Alternative Rate Event, the Trustee
shall have no responsibility for the determination of any
alternative index or the calculation of the Certificate Interest
Rates for the COFI Certificates.
(c) If at any time after the occurrence of an
Alternative Rate Event the Federal Home Loan Bank of San
Francisco resumes publication of COFI, the Certificate Interest
Rates for the COFI Certificates for each Interest Accrual Period
commencing thereafter will be calculated by reference to COFI.
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Section 5.08. Determination of LIBOR. (a) If the
outstanding Certificates include any LIBOR Certificates, then on
each LIBOR Determination Date the Trustee shall determine LIBOR
on the basis of the offered LIBOR quotations of the Reference
Banks as of 11:00 a.m. London time on such LIBOR Determination
Date as follows:
(i) If on any LIBOR Determination Date two or more of
the Reference Banks provide such offered quotations, LIBOR
for the next Interest Accrual Period will be the arithmetic
mean of such offered quotations (rounding such arithmetic
mean upwards if necessary to the nearest whole multiple of
1/16%);
(ii) If on any LIBOR Determination Date only one or
none of the Reference Banks provides such offered
quotations, LIBOR for the next Interest Accrual Period will
be whichever is the higher of (x) LIBOR as determined on
the previous LIBOR Determination Date or (y) the Reserve
Interest Rate. The "Reserve Interest Rate" will be either
(A) the rate per annum which the Trustee determines to be
the arithmetic mean (rounding such arithmetic mean upwards
if necessary to the nearest whole multiple of 1/16%) of the
one-month Eurodollar lending rates that New York City banks
selected by the Trustee are quoting, on the relevant LIBOR
Determination Date, to the principal London offices of
leading banks in the London interbank market or (B) in the
event that the Trustee can determine no such arithmetic
mean, the lowest one-month Eurodollar lending rate that the
New York City banks selected by the Trustee are quoting on
such LIBOR Determination Date to leading European banks;
and
(iii) If on any LIBOR Determination Date the Trustee is
required but is unable to determine the Reserve Interest
Rate in the manner provided in paragraph (ii) above, LIBOR
for the next Interest Accrual Period will be LIBOR as
determined on the previous LIBOR Determination Date, or, in
the case of the first LIBOR Determination Date, the Initial
LIBOR Rate.
(b) The establishment of LIBOR by the Trustee and the
Trustee's subsequent calculation of the Certificate Interest
Rates applicable to the LIBOR Certificates for the relevant
Interest Accrual Period, in the absence of manifest error, will
be final and binding. In all cases, the Trustee may conclusively
rely on quotations of LIBOR for the Reference Banks as such
quotations appear on the display designated "LIBO" on the Reuters
Monitor Money Rates Service.
(c) Within five Business Days of the Trustee's
calculation of the Certificate Interest Rates of the LIBOR
Certificates, the Trustee shall furnish to the Company by
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telecopy (or by such other means as the Trustee and the Company
may agree from time to time) such Certificate Interest Rates.
(d) The Trustee shall provide to Certificateholders
who inquire of it by telephone the Certificate Interest Rates of
the LIBOR Certificates for the current and immediately preceding
Interest Accrual Period.
(e) As used herein, "Reference Banks" shall mean no
more than four leading banks engaged in transactions in
Eurodollar deposits in the international Eurocurrency market (i)
with an established place of business in London, England, (ii)
whose quotations appear on the "Reuters Screen LIBO Page" (as
described in the definition of LIBOR hereof) on the applicable
LIBOR Determination Date and (iii) which have been designated as
such by the Trustee and are able and willing to provide such
quotations to the Trustee on each LIBOR Determination Date. The
Reference Banks initially shall be: Barclay's plc, Bank of Tokyo,
National Westminster Bank and Trust Company and Bankers Trust
Company. If any of the initial Reference Banks should be removed
from the Reuters Screen LIBO Page or in any other way fail to
meet the qualifications of a Reference Bank, the Trustee, after
consultation with the Company, shall use its best efforts to
designate alternate Reference Banks.
ARTICLE VI
THE COMPANY
Section 6.01. Liability of the Company. The Company
shall be liable in accordance herewith only to the extent of the
obligations specifically imposed upon and undertaken by the
Company herein.
Section 6.02. Merger or Consolidation of, or
Assumption of the Obligations of, the Company. Any corporation
into which the Company may be merged or consolidated, or any
corporation resulting from any merger, conversion or
consolidation to which the Company shall be a party, or any
corporation succeeding to the business of the Company, or any
corporation, more than 50% of the voting stock of which is,
directly or indirectly, owned by General Electric Company, or any
limited partnership, the sole general partner of which is either
the Company or a corporation, more than 50% of the voting stock
of which is owned, directly or indirectly, by General Electric
Company, which executes an agreement of assumption to perform
every obligation of the Company hereunder, shall be the successor
of the Company hereunder, without the execution or filing of any
paper or any further act on the part of any of the parties
hereto, anything herein to the contrary notwithstanding.
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Section 6.03. Assignment. The Company may assign its
rights and delegate its duties and obligations as servicer under
this Agreement; provided, that (i) the purchaser or transferee
accepting such assignment or delegation is qualified to service
mortgage loans for FNMA or FHLMC, is reasonably satisfactory to
the Trustee and executes and delivers to the Trustee an
agreement, in form and substance reasonably satisfactory to the
Trustee, which contains an assumption by such purchaser or
transferee of the due and punctual performance and observance of
each covenant and condition to be performed or observed by the
Company as servicer hereunder from and after the date of such
agreement and (ii) each Rating Agency's rating of any Classes of
Certificates in effect immediately prior to such assignment or
delegation would not be qualified, downgraded or withdrawn as a
result thereof. In the case of any such assignment or delegation,
the Company will be released from its obligations as servicer
hereunder except for liabilities and obligations as servicer
incurred prior to such assignment or delegation.
Section 6.04. Limitation on Liability of the Company
and Others. Neither the Company nor any of the directors or
officers or employees or agents of the Company shall be under any
liability to the Trust Fund or the Certificateholders for any
action taken or for refraining from the taking of any action by
the Company pursuant to this Agreement, or for errors in
judgment; provided, however, that this provision shall not
protect the Company or any such person against any liability
which would otherwise be imposed by reason of willful
misfeasance, bad faith or gross negligence in the performance of
duties of the Company or by reason of reckless disregard of
obligations and duties of the Company hereunder. The Company and
any director or officer or employee or agent of the Company may
rely in good faith on any document of any kind prima facie
properly executed and submitted by any Person respecting any
matters arising hereunder. The Company and any director or
officer or employee or agent of the Company shall be indemnified
by the Trust Fund and held harmless against any loss, liability
or expense incurred in connection with any legal action relating
to this Agreement or the Certificates, other than any loss,
liability or expense related to any specific Mortgage Loan or
Mortgage Loans (except as any such loss, liability or expense
shall be otherwise reimbursable pursuant to this Agreement) and
any loss, liability or expense incurred by reason of willful
misfeasance, bad faith or gross negligence in the performance of
duties hereunder or by reason of reckless disregard of
obligations and duties hereunder. The Company shall be under no
obligation to appear in, prosecute or defend any legal action
which is not incidental to its duties to service the Mortgage
Loans in accordance with this Agreement and which in its opinion
may involve it in any expense or liability; provided, however,
that the Company may in its sole discretion undertake any such
action which it may deem necessary or desirable in respect of
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this Agreement, and the rights and duties of the parties hereto
and the interests of the Certificateholders hereunder. In such
event, the legal expenses and costs of such action and any
liability resulting therefrom shall be expenses, costs and
liabilities of the Trust Fund and the Company shall be entitled
to be reimbursed therefor from amounts credited to the Mortgage
Loan Payment Record as provided by Section 3.04.
Section 6.05. The Company Not to Resign. Subject to
the provisions of Sections 6.02 and 6.03, the Company shall not
resign from the obligations and duties hereby imposed on it
except upon determination that the performance of its duties
hereunder is no longer permissible under applicable law. Any such
determination permitting the resignation of the Company shall be
evidenced by an Opinion of Counsel to such effect delivered to
the Trustee. No such resignation shall become effective until the
Trustee or a successor servicer shall have assumed the
responsibilities and obligations of the Company in accordance
with Section 7.02.
ARTICLE VII
DEFAULT
Section 7.01. Events of Default. If any one of the
following events ("Events of Default") shall occur and be
continuing:
(i) Any failure by the Company to make any payment to
the Trustee of funds pursuant to Section 3.02(d) out of
which distributions to Certificateholders of any Class are
required to be made under the terms of the Certificates and
this Agreement which failure continues unremedied for a
period of three Business Days after the date upon which
written notice of such failure shall have been given to the
Company by the Trustee or to the Company and the Trustee by
Holders of Certificates of each Class affected thereby
evidencing, as to each such Class, Percentage Interests
aggregating not less than 25%; or
(ii) Failure on the part of the Company duly to observe
or perform in any material respect any other covenants or
agreements of the Company set forth in the Certificates or
in this Agreement, which covenants and agreements (A)
materially affect the rights of Certificateholders and (B)
continue unremedied for a period of 60 days after the date
on which written notice of such failure, requiring the same
to be remedied, shall have been given to the Company by the
Trustee, or to the Company and the Trustee by the Holders of
Certificates of each Class affected thereby evidencing, as
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to each such Class, Percentage Interests aggregating not
less than 25%; or
(iii) The entry of a decree or order by a court or
agency or supervisory authority having jurisdiction in the
premises for the appointment of a conservator, receiver or
liquidator in any insolvency, readjustment of debt,
marshalling of assets and liabilities or similar
proceedings of or relating to the Company, or for the
winding up or liquidation of the Company's affairs, and the
continuance of any such decree or order unstayed and in
effect for a period of 60 consecutive days; or
(iv) The consent by the Company to the appointment of a
conservator or receiver or liquidator in any insolvency,
readjustment of debt, marshalling of assets and liabilities
or similar proceedings of or relating to the Company or of
or relating to substantially all of its property; or the
Company shall admit in writing its inability to pay its
debts generally as they become due, file a petition to take
advantage of any applicable insolvency or reorganization
statute, make an assignment for the benefit of its
creditors, or voluntarily suspend payment of its
obligations;
then, and in each and every such case, so long as an Event of
Default shall not have been remedied by the Company, either the
Trustee, or the Holders of Certificates of each Class affected
thereby evidencing, as to each such Class, Percentage Interests
aggregating not less than 51%, by notice then given in writing to
the Company (and to the Trustee if given by the
Certificateholders) may terminate all of the rights and
obligations of the Company as servicer under this Agreement. On
or after the receipt by the Company of such written notice, all
authority and power of the Company under this Agreement, whether
with respect to the Certificates or the Mortgage Loans or
otherwise, shall pass to and be vested in the Trustee pursuant to
and under this Section 7.01; and, without limitation, the Trustee
is hereby authorized and empowered to execute and deliver, on
behalf of the Company, as attorney-in-fact or otherwise, any and
all documents and other instruments, and to do or accomplish all
other acts or things necessary or appropriate to effect the
purposes of such notice of termination, whether to complete the
transfer and endorsement of the Mortgage Loans and related
documents, or otherwise, including, without limitation, the
recordation of the assignments of the Mortgage Loans to it. The
Company agrees to cooperate with the Trustee in effecting the
termination of the responsibilities and rights of the Company
hereunder, including, without limitation, the transfer to the
Trustee for the administration by it of all cash amounts that
shall at the time be held by the Company and that have been or
should have been credited by it to the Mortgage Loan Payment
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Record, or that have been deposited by the Company in the
Certificate Account or are thereafter received by the Company
with respect to the Mortgage Loans. In addition to any other
amounts which are then, or, notwithstanding the termination of
its activities as servicer, may become, payable to the Company
under this Agreement, the Company shall be entitled to receive
out of any delinquent payment on account of interest on a
Mortgage Loan, due during the period prior to the notice pursuant
to this Section 7.01 which terminates the obligation and rights
of the Company hereunder and received after such notice, that
portion of such payment which it would have been entitled to
retain pursuant to Section 3.04(vi) if such notice had not been
given.
Section 7.02. Trustee to Act; Appointment of
Successor. (a) On and after the time the Company receives a
notice of termination pursuant to Section 7.01, the Trustee shall
be the successor in all respects to the Company in its capacity
as servicer under this Agreement and the transactions set forth
or provided for herein and shall succeed to all the rights of and
be subject to all the responsibilities, duties and liabilities
relating thereto placed on the Company in its capacity as
servicer by the terms and provisions hereof; provided, however,
that the responsibilities and duties of the Company pursuant to
Sections 2.02 and 2.03(a) and, if the Trustee is prohibited by
law or regulation from making Monthly Advances, the
responsibility to make Monthly Advances pursuant to Section 4.04,
shall not be the responsibilities, duties or obligations of the
Trustee; and provided further, that any failure of the Trustee to
perform such duties and responsibilities that is caused by the
Company's failure to cooperate with the Trustee as required by
Section 7.01 shall not be considered a default by the Trustee
hereunder. As compensation therefor, the Trustee shall, except as
provided in Section 7.01, be entitled to such compensation as the
Company would have been entitled to hereunder if no such notice
of termination had been given. Notwithstanding the above, the
Trustee may, if it shall be unwilling so to act, or shall, if it
is legally unable so to act, appoint, or petition a court of
competent jurisdiction to appoint, any established housing and
home finance institution approved to service mortgage loans for
either FNMA or FHLMC, having a net worth of not less than
$10,000,000, as the successor to the Company hereunder in the
assumption of all or any part of the responsibilities, duties or
liabilities of the Company hereunder. Pending appointment of a
successor to the Company pursuant to this Article VII, unless the
Trustee is prohibited by law from so acting, the Trustee shall
act in such capacity as hereinabove provided. In connection with
such appointment and assumption, the Trustee may make such
arrangements for the compensation of such successor out of
payments on Mortgage Loans as it and such successor shall agree;
provided, however, that no such compensation shall be in excess
of that permitted the Company hereunder. The Trustee and such
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successor shall take such action, consistent with this Agreement,
as shall be necessary to effectuate any such succession.
(b) Any successor, including the Trustee, to the
Company as servicer pursuant to this Article VII shall during the
term of its service as servicer maintain in force (i) a policy or
policies of insurance covering errors and omissions in the
performance of its obligations as servicer hereunder, and (ii) a
fidelity bond in respect of its officers, employees and agents to
the same extent as the Company is so required pursuant to Section
3.15.
Section 7.03. Notification to Certificateholders. Upon
any termination or appointment of a successor to the Company
pursuant to this Article VII, the Trustee shall give prompt
written notice thereof to Certificateholders at their respective
addresses appearing in the Certificate Register.
ARTICLE VIII
THE TRUSTEE
Section 8.01. Duties of Trustee. The Trustee, prior to
the occurrence of an Event of Default and after the curing of all
Events of Default which may have occurred, undertakes to perform
such duties and only such duties as are specifically set forth in
this Agreement. If an Event of Default has occurred (which has
not been cured), the Trustee shall exercise such of the rights
and powers vested in it by this Agreement, and use the same
degree of care and skill in their exercise, as a prudent person
would exercise or use under the circumstances in the conduct of
his or her own affairs.
The Trustee, upon receipt of all resolutions,
certificates, statements, opinions, reports, documents, orders or
other instruments furnished to the Trustee which are specifically
required to be furnished pursuant to any provision of this
Agreement, shall examine them to determine whether they conform
to the requirements of this Agreement.
No provision of this Agreement shall be construed to
relieve the Trustee from liability for its own negligent action,
its own negligent failure to act or its own misconduct; provided,
however, that:
(i) Prior to the occurrence of an Event of Default,
and after the curing of all such Events of Default which
may have occurred, the duties and obligations of the
Trustee shall be determined solely by the express
provisions of this Agreement, the Trustee shall not be
liable except for the performance of such duties and
obligations as are specifically set forth in this
Agreement, no implied
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covenants or obligations shall be read into this Agreement
against the Trustee and, in the absence of bad faith on the
part of the Trustee, the Trustee may conclusively rely, as
to the truth of the statements and the correctness of the
opinions expressed therein, upon any certificates or
opinions furnished to the Trustee and conforming to the
requirements of this Agreement;
(ii) The Trustee shall not be personally liable for an
error of judgment made in good faith by a Responsible
Officer of the Trustee, unless it shall be proved that the
Trustee was negligent in performing its duties in
accordance with the terms of this Agreement;
(iii) The Trustee shall not be personally liable with
respect to any action taken, suffered or omitted to be
taken by it in good faith in accordance with the direction
of the Holders of Certificates of each Class affected
thereby evidencing, as to each such Class, Percentage
Interests aggregating not less than 25%, relating to the
time, method and place of conducting any proceeding for any
remedy available to the Trustee, or exercising any trust or
power conferred upon the Trustee, under this Agreement; and
(iv) The Trustee shall not be charged with knowledge of
(A) any failure by the Company to comply with the
obligations of the Company referred to in clauses (i) and
(ii) of Section 7.01, (B) the rating downgrade referred to
in the definition of "Trigger Event" or (C) any failure by
the Company to comply with the obligations of the Company
to record the assignments of Mortgages referred to in
Section 2.01 unless a Responsible Officer of the Trustee at
the Corporate Trust Office obtains actual knowledge of such
failures, occurrence or downgrade or the Trustee receives
written notice of such failures, occurrence or downgrade
from the Company or the Holders of Certificates of each
Class affected thereby evidencing, as to each such Class,
Percentage Interests aggregating not less than 25%.
Subject to any obligation of the Trustee to make
Monthly Advances as provided herein, the Trustee shall not be
required to expend or risk its own funds or otherwise incur
financial liability in the performance of any of its duties
hereunder, or in the exercise of any of its rights or powers, if
there is reasonable ground for believing that the repayment of
such funds or adequate indemnity against such risk or liability
is not reasonably assured to it, and none of the provisions
contained in this Agreement shall in any event require the
Trustee to perform, or be responsible for the manner of
performance of, any of the obligations of the Company under this
Agreement, except during such time, if any, as the Trustee shall
be the successor to, and be vested with the rights, duties,
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powers and privileges of, the Company in accordance with the
terms of this Agreement.
Section 8.02. Certain Matters Affecting the Trustee.
Except as otherwise provided in Section 8.01:
(i) The Trustee may conclusively rely and shall be
protected in acting or refraining from acting upon any
resolution, Officer's Certificate, certificate of auditors
or any other certificate, statement, instrument, opinion,
report, notice, request, consent, order, appraisal, bond or
other paper or document believed by it to be genuine and to
have been signed or presented by the proper party or
parties;
(ii) The Trustee may consult with counsel and any
Opinion of Counsel shall be full and complete authorization
and protection in respect of any action taken or suffered
or omitted by it hereunder in good faith and in accordance
with such Opinion of Counsel;
(iii) The Trustee shall be under no obligation to
exercise any of the rights or powers vested in it by this
Agreement, or to institute, conduct or defend any
litigation hereunder or in relation hereto, at the request,
order or direction of any of the Certificateholders,
pursuant to the provisions of this Agreement, unless such
Certificateholders shall have offered to the Trustee
reasonable security or indemnity against the costs,
expenses and liabilities which may be incurred therein or
thereby; nothing contained herein shall, however, relieve
the Trustee of the obligations, upon the occurrence of an
Event of Default (which has not been cured), to exercise
such of the rights and powers vested in it by this
Agreement, and to use the same degree of care and skill in
their exercise as a prudent person would exercise or use
under the circumstances in the conduct of his or her own
affairs;
(iv) The Trustee shall not be personally liable for any
action taken, suffered or omitted by it in good faith and
believed by it to be authorized or within the discretion or
rights or powers conferred upon it by this Agreement;
(v) Prior to the occurrence of an Event of Default and
after the curing of all Events of Default which may have
occurred, the Trustee shall not be bound to make any
investigation into the facts or matters stated in any
resolution, certificate, statement, instrument, opinion,
report, notice, request, consent, order, approval, bond or
other paper or documents, unless requested in writing so to
do by Holders of Certificates of each Class affected thereby
evidencing, as to each such Class, Percentage Interests
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aggregating not less than 25%; provided, however, that if
the payment within a reasonable time to the Trustee of the
costs, expenses or liabilities likely to be incurred by it
in the making of such investigation is, in the opinion of
the Trustee, not reasonably assured to the Trustee by the
security afforded to it by the terms of this Agreement, the
Trustee may require reasonable indemnity against such cost,
expense or liability as a condition to such proceeding. The
reasonable expense of every such investigation shall be
paid by the Company or, if paid by the Trustee, shall be
reimbursed by the Company upon demand. Nothing in this
clause (v) shall derogate from the obligation of the
Company to observe any applicable law prohibiting
disclosure of information regarding the Mortgagors; and
(vi) The Trustee may execute any of the trusts or
powers hereunder or perform any duties hereunder either
directly or by or through agents or attorneys or a
custodian.
Section 8.03. Trustee Not Liable for Certificates or
Mortgage Loans. The recitals contained herein and in the
Certificates (other than the signature and countersignature of
the Trustee on the Certificates) shall be taken as the statements
of the Company, and the Trustee assumes no responsibility for the
correctness of the same. The Trustee makes no representations as
to the validity or sufficiency of this Agreement or of the
Certificates (other than the signature and countersignature of
the Trustee on the Certificates) or of any Mortgage Loan or
related document. The Trustee shall not be accountable for the
use or application by the Company of any of the Certificates or
of the proceeds of such Certificates, or for the use or
application of any funds paid to the Company in respect of the
Mortgage Loans or deposited in or withdrawn from the Certificate
Account by the Company.
Section 8.04. Trustee May Own Certificates. The
Trustee in its individual or any other capacity may become the
owner or pledgee of Certificates with the same rights as it would
have if it were not Trustee.
Section 8.05. The Company to Pay Trustee's Fees and
Expenses. The Company covenants and agrees to pay to the Trustee
from time to time, and the Trustee shall be entitled to,
reasonable compensation (which shall not be limited by any
provision of law in regard to the compensation of a trustee of an
express trust) for all services rendered by it in the execution
of the trusts hereby created and in the exercise and performance
of any of the powers and duties hereunder of the Trustee, and the
Company will pay or reimburse the Trustee upon its request for
all reasonable expenses, disbursements and advances (including
any Monthly Advances of the Trustee not previously reimbursed
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thereto pursuant to Section 3.04) incurred or made by the Trustee
in accordance with any of the provisions of this Agreement
(including the reasonable compensation and the expenses and
disbursements of its counsel and of all persons not regularly in
its employ) except any such expense, disbursement or advance as
may arise from its negligence or bad faith or which is the
responsibility of Certificateholders hereunder. In addition, the
Company covenants and agrees to indemnify the Trustee from, and
hold it harmless against, any and all losses, liabilities,
damages, claims or expenses other than those resulting from the
negligence or bad faith of the Trustee. From time to time, the
Trustee may request that the Company debit the Mortgage Loan
Payment Record pursuant to Section 3.04 to reimburse the Trustee
for any Monthly Advances and Nonrecoverable Advances.
Section 8.06. Eligibility Requirements for Trustee.
The Trustee hereunder shall at all times be a corporation having
its principal office either in the State of New York or in the
same state as that in which the initial Trustee under this
Agreement has its principal office and organized and doing
business under the laws of such State or the United States of
America, authorized under such laws to exercise corporate trust
powers, having a combined capital and surplus of at least
$50,000,000 and subject to supervision or examination by federal
or state authority. If such corporation publishes reports of
condition at least annually, pursuant to law or to the
requirements of the aforesaid supervising or examining authority,
then for the purposes of this Section 8.06, the combined capital
and surplus of such corporation shall be deemed to be its
combined capital and surplus as set forth in its most recent
report of condition so published. The Trustee shall not be an
affiliate of the Company. In case at any time the Trustee shall
cease to be eligible in accordance with the provisions of this
Section 8.06, the Trustee shall resign immediately in the manner
and with the effect specified in Section 8.07.
Section 8.07. Resignation or Removal of Trustee. The
Trustee may at any time resign and be discharged from the trusts
hereby created by giving written notice thereof to the Company.
Upon receiving such notice of resignation, the Company shall
promptly appoint a successor Trustee by written instrument, in
duplicate, one copy of which instrument shall be delivered to the
resigning Trustee and one copy to the successor Trustee. If no
successor Trustee shall have been so appointed and having
accepted appointment within 30 days after the giving of such
notice of resignation, the resigning Trustee may petition any
court of competent jurisdiction for the appointment of a
successor Trustee.
If the conditions in any of the following clauses (i),
(ii) or (iii) shall occur at any time, the Company may remove the
Trustee: (i) the Trustee shall cease to be eligible in
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accordance with the provisions of Section 8.06 and shall fail to
resign after written request therefor by the Company; (ii) the
Trustee shall be legally unable to act, or shall be adjudged a
bankrupt or insolvent, or a receiver of the Trustee or of its
property shall be appointed, or any public officer shall take
charge or control of the Trustee or of its property or affairs
for the purpose of rehabilitation, conservation or liquidation;
or (iii) the replacement of the Trustee with a successor Trustee
will enable the Company to avoid (and should, based on the
information included in the notice referred to below, result in
the avoidance of) a downgrading of the ratings assigned to the
Certificates by the Rating Agencies (whether or not other actions
could avoid such downgrading) and no Event of Default, as
provided by Section 7.01 hereof, shall have occurred or be
continuing; provided, however, that no action shall be taken
pursuant to this clause (iii) unless reasonable notice shall have
been provided to the Trustee, which notice shall set forth the
basis for any rating downgrade as contemplated by the Rating
Agencies and shall also indicate the manner in which such
proposed action is intended to avoid such downgrade. If it
removes the Trustee under the authority of the immediately
preceding sentence, the Company shall promptly appoint a
successor trustee by written instrument, in duplicate, one copy
of which instrument shall be delivered to the Trustee so removed
and one copy to the successor trustee.
Any resignation or removal of the Trustee and
appointment of a successor Trustee pursuant to any of the
provisions of this Section 8.07 shall not become effective until
acceptance of appointment by the successor Trustee as provided in
Section 8.08.
Section 8.08. Successor Trustee. Any successor Trustee
appointed as provided in Section 8.07 shall execute, acknowledge
and deliver to the Company and to its predecessor Trustee an
instrument accepting such appointment hereunder, and thereupon
the resignation or removal of the predecessor Trustee shall
become effective and such successor Trustee, without any further
act, deed or conveyance, shall become fully vested with all the
rights, powers, duties and obligations of its predecessor
hereunder, with like effect as if originally named as Trustee.
The predecessor Trustee shall deliver to the successor Trustee
all Mortgage Files and related documents and statements held by
it hereunder; and the Company and the predecessor Trustee shall
execute and deliver such instruments and do such other things as
may reasonably be required for fully and certainly vesting and
confirming in the successor Trustee all such rights, powers,
duties and obligations.
No successor Trustee shall accept appointment as
provided in this Section 8.08 unless at the time of such
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acceptance such successor Trustee shall be eligible under the
provisions of Section 8.06.
Upon acceptance of appointment by a successor Trustee
as provided in this Section 8.08, the Company shall mail notice
of the succession of such Trustee hereunder to all holders of
Certificates at their addresses as shown in the Certificate
Register. If the Company fails to mail such notice within 10 days
after acceptance of appointment by the successor Trustee, the
successor Trustee shall cause such notice to be mailed at the
expense of the Company.
Section 8.09. Merger or Consolidation of Trustee. Any
corporation into which the Trustee may be merged or converted or
with which it may be consolidated, or any corporation resulting
from any merger, conversion or consolidation to which the Trustee
shall be a party, or any corporation succeeding to the corporate
trust business of the Trustee, shall be the successor of the
Trustee hereunder, provided that such corporation shall be
eligible under the provisions of Section 8.06, without the
execution or filing of any paper or any further act on the part
of any of the parties hereto, anything herein to the contrary
notwithstanding.
Section 8.10. Appointment of Co-Trustee or Separate
Trustee. Notwithstanding any other provisions of this Agreement,
at any time, for the purpose of meeting any legal requirements of
any jurisdiction in which any part of the Trust Fund or property
securing any Mortgage Note may at the time be located, the
Company and the Trustee acting jointly shall have the power and
shall execute and deliver all instruments to appoint one or more
Persons approved by the Trustee to act as co-trustee or
co-trustees, jointly with the Trustee, of all or any part of the
Trust Fund, or separate trustee or separate trustees of any part
of the Trust Fund, and to vest in such Person or Persons, in such
capacity and for the benefit of the Certificateholders, such
title to the Trust Fund, or any part thereof, and, subject to the
other provisions of this Section 8.10, such powers, duties,
obligations, rights and trusts as the Company and the Trustee may
consider necessary or desirable. If the Company shall not have
joined in such appointment within 15 days after the receipt by it
of a request so to do, or in case an Event of Default shall have
occurred and be continuing, the Trustee alone shall have the
power to make such appointment. No co-trustee or separate trustee
hereunder shall be required to meet the terms of eligibility as a
successor trustee under Section 8.06 and no notice to
Certificateholders of the appointment of any co-trustee or
separate trustee shall be required under Section 8.08.
Every separate trustee and co-trustee shall, to the
extent permitted by law, be appointed and act subject to the
following provisions and conditions:
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(i) All rights, powers, duties and obligations
conferred or imposed upon the Trustee shall be conferred or
imposed upon and exercised or performed by the Trustee and
such separate trustee or co-trustee jointly (it being
understood that such separate trustee or co-trustee is not
authorized to act separately without the Trustee joining in
such act), except to the extent that under any law of any
jurisdiction in which any particular act or acts are to be
performed (whether as Trustee hereunder or as successor to
the Company hereunder), the Trustee shall be incompetent or
unqualified to perform such act or acts, in which event
such rights, powers, duties and obligations (including the
holding of title to the Trust Fund or any portion thereof
in any such jurisdiction) shall be exercised and performed
singly by such separate trustee or co-trustee, but solely
at the direction of the Trustee;
(ii) No trustee hereunder shall be held personally
liable by reason of any act or omission of any other trustee
hereunder; and
(iii) The Company and the Trustee acting jointly may at
any time accept the resignation of or remove any separate
trustee or co-trustee.
Any notice, request or other writing given to the
Trustee shall be deemed to have been given to each of the then
separate trustees and co-trustees, as effectively as if given to
each of them. Every instrument appointing any separate trustee or
co-trustee shall refer to this Agreement and the conditions of
this Article VIII. Each separate trustee and co-trustee, upon its
acceptance of the trusts conferred, shall be vested with the
estates or property specified in its instrument of appointment,
either jointly with the Trustee or separately, as may be provided
therein, subject to all the provisions of this Agreement,
specifically including every provision of this Agreement relating
to the conduct of, affecting the liability of, or affording
protection to, the Trustee. Every such instrument shall be filed
with the Trustee and a copy thereof given to the Company.
Any separate trustee or co-trustee may, at any time,
constitute the Trustee, its agent or attorney-in-fact, with full
power and authority, to the extent not prohibited by law, to do
any lawful act under or in respect of this Agreement on its
behalf and in its name. If any separate trustee or co-trustee
shall die, become incapable of acting, resign or be removed, all
of its estates, properties, rights, remedies and trusts shall
vest in and be exercised by the Trustee, to the extent permitted
by law, without the appointment of a new or successor trustee.
Section 8.11. Compliance with REMIC Provisions; Tax
Returns. The Trustee shall at all times act in such a manner in
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the performance of its duties hereunder as shall be necessary to
prevent the Trust Fund from failing to qualify as a REMIC and to
prevent the imposition of a tax on the Trust Fund or the REMIC
established hereunder. The Trustee, upon request, will furnish
the Company with all such information within its possession as
may be reasonably required in connection with the preparation of
all tax returns of the Trust Fund and any Reserve Fund, and
shall, upon request, execute such returns.
ARTICLE IX
TERMINATION
Section 9.01. Termination upon Repurchase by the
Company or Liquidation of All Mortgage Loans. Subject to Section
9.02, the respective obligations and responsibilities of the
Company and the Trustee created hereby (other than the obligation
of the Trustee to make certain payments to Certificateholders
after the final Distribution Date and the obligation of the
Trustee to send certain notices as hereinafter set forth) shall
terminate upon the last action required to be taken by the
Trustee on the final Distribution Date pursuant to this Article
IX following the earlier of (a) the repurchase by the Company of
all Mortgage Loans and all REO Mortgage Loans remaining in the
Trust Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than any REO
Mortgage Loans described in the following clause) plus accrued
and unpaid interest thereon at the applicable Net Mortgage Rate
(less any amounts constituting previously unreimbursed Monthly
Advances) to the first day of the month in which such purchase
price is to be distributed to Certificateholders and (y) the
appraised value of any REO Mortgage Loan (less the good faith
estimate of the Company of Liquidation Expenses to be incurred in
connection with its disposal thereof), such appraisal to be
conducted by an appraiser mutually agreed upon by the Company and
the Trustee, and (b) the later of the final payment or other
liquidation (or any Monthly Advance with respect thereto) of the
last Mortgage Loan remaining in the Trust Fund or the disposition
of all property acquired upon foreclosure or by deed in lieu of
foreclosure of any Mortgage Loan; provided, however, that in no
event shall the Trust Fund created hereby continue beyond the
expiration of 21 years from the death of the last survivor of the
descendants of Joseph P. Kennedy, the late ambassador of the
United States of America to the Court of St. James's, living on
the date of this Agreement. The right of the Company to
repurchase all Mortgage Loans pursuant to clause (a) above shall
be conditioned upon the aggregate of the Scheduled Principal
Balance of the Outstanding Mortgage Loans, at the time of any
such repurchase, aggregating less than 10 percent of the
aggregate of the Scheduled Principal Balance of the Mortgage
Loans as of the Cut-off Date.
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Notice of any termination, specifying the Distribution
Date upon which the Certificateholders may surrender their
Certificates to the Trustee for payment of the final distribution
and cancellation, shall be given promptly by the Trustee by
letter to Certificateholders mailed not earlier than the 15th day
and not later than the 25th day of the month next preceding the
month of such final distribution specifying (A) the Distribution
Date upon which final payment of the Certificates will be made
upon presentation and surrender of the Certificates at the office
of the Trustee therein designated, (B) the amount of any such
final payment and (C) that the Record Date otherwise applicable
to such Distribution Date is not applicable, payments being made
only upon presentation and surrender of the Certificates at the
office of the Trustee therein specified. The Trustee shall give
such notice to the Certificate Registrar at the time such notice
is given to Certificateholders. In the event such notice is given
in connection with the exercise by the Company of its right of
repurchase, the Company shall deposit in the Certificate Account
not later than 11:00 a.m. on the Business Day prior to the final
Distribution Date in next-day funds an amount equal to the price
described above. Upon presentation and surrender of the
Certificates, the Trustee shall cause to be distributed to
Certificateholders an amount equal to the price calculated as
above provided, any such repurchase being in lieu of the
distribution otherwise required to be made on the Distribution
Date upon which the repurchase is effected. Upon certification to
the Trustee by a Servicing Officer following such final deposit,
the Trustee shall promptly release to the Company the Mortgage
Files for the repurchased Mortgage Loans.
On the final Distribution Date, the Trustee shall
distribute amounts on deposit in the Certificate Account in
accordance with the applicable priorities provided by Section
4.01. Distributions on each Certificate shall be made on the
final Distribution Date in the manner specified in Section 4.02
but only upon presentation and surrender of the Certificates.
In the event that all of the Certificateholders shall
not surrender their Certificates for cancellation within six
months after the date specified in the above-mentioned written
notice, the Trustee shall give a second written notice to the
remaining Certificateholders to surrender their Certificates for
cancellation and receive the final distribution with respect
thereto. If within one year after the second notice all the
Certificates shall not have been surrendered for cancellation,
the Trustee may take appropriate steps, or may appoint an agent
to take appropriate steps, to contact the remaining
Certificateholders concerning surrender of their Certificates,
and the cost thereof shall be paid out of the funds and other
assets which remain subject hereto.
112
<PAGE>
Section 9.02. Additional Termination Requirements. (a)
In the event the Company exercises its purchase option as
provided in Section 9.01, the Trust Fund and the REMIC
established hereunder shall be terminated in accordance with the
following additional requirements, unless the Trustee has been
supplied with an Opinion of Counsel to the effect that the
failure to comply with the requirements of this Section 9.02 will
not (i) result in the imposition of taxes on "prohibited
transactions" of such REMIC as defined in section 860F of the
Code, or (ii) cause the Trust Fund to fail to qualify as a REMIC
at any time that any Certificates are outstanding:
(i) Within 90 days prior to the final Distribution
Date set forth in the notice given by the Trustee under
Section 9.01, the Company shall prepare and the Trustee
shall execute and adopt a plan of complete liquidation for
such REMIC within the meaning of section 860F(a)(4)(A)(i)
of the Code, which shall be evidenced by such notice; and
(ii) Within 90 days after the time of adoption of such
a plan of complete liquidation, the Trustee shall sell all
of the assets of the Trust Fund to the Company for cash in
accordance with Section 9.01.
(b) By their acceptance of the Residual Certificates,
the Holders thereof hereby authorize the Trustee to adopt such a
plan of complete liquidation which authorization shall be binding
on all successor Holders of the Residual Certificates.
(c) On the final federal income tax return for the
REMIC established hereunder, the Trustee will attach a statement
specifying the date of the adoption of the plan of liquidation.
ARTICLE X
MISCELLANEOUS PROVISIONS
Section 10.01. Amendment. This Agreement may be
amended from time to time by the Company and the Trustee, without
the consent of any of the Certificateholders, to cure any
ambiguity, to correct or supplement any provisions herein or
therein which may be defective or inconsistent with any other
provisions herein, or to add any other provisions with respect to
matters or questions arising under this Agreement, which shall
not be materially inconsistent with the provisions of this
Agreement; provided, however, that such action shall not, as
evidenced by an Opinion of Counsel, adversely affect in any
material respect the interests of any Certificateholder.
Notwithstanding the foregoing, without the consent of the
Certificateholders, the Trustee and the Company may at any time
and from time to time amend this Agreement to modify, eliminate
113
<PAGE>
or add to any of its provisions to such extent as shall be
necessary or appropriate to maintain the qualification of the
Trust Fund as a REMIC under the Code or to avoid or minimize the
risk of the imposition of any tax on the Trust Fund pursuant to
the Code that would be a claim against the Trust Fund at any time
prior to the final redemption of the Certificates, provided that
the Trustee has obtained an opinion of independent counsel (which
opinion also shall be addressed to the Company) to the effect
that such action is necessary or appropriate to maintain such
qualification or to avoid or minimize the risk of the imposition
of such a tax.
This Agreement may also be amended from time to time
by the Company and the Trustee with the consent of Holders of
Certificates evidencing (i) not less than 66% of the Voting
Rights of all the Certificates or (ii) Percentage Interests
aggregating not less than 66% of each Class affected by such
amendment, for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of
this Agreement, or of modifying in any manner the rights of the
Holders of Certificates; provided, however, that no such
amendment shall (a) reduce in any manner the amount of, or delay
the timing of, collections of payments on the Mortgage Loans or
distributions which are required to be made on any Certificate
without the consent of the Holder of such Certificate, (b)
adversely affect in any material respects the interests of the
Holders of any Class of Certificates in any manner other than as
described in (a), without the consent of the Holders of
Certificates evidencing Percentage Interests aggregating not less
than 66% of such Class, or (c) reduce the aforesaid percentages
of Certificates of any Class required to consent to any such
amendment, without the consent of the Holders of all Certificates
of such Class then outstanding. For purposes of this paragraph,
references to "Holder" or "Holders" shall be deemed to include,
in the case of any Class of Book-Entry Certificates, the related
Certificate Owners.
Notwithstanding any contrary provision of this
Agreement, the Trustee shall not consent to any amendment to this
Agreement unless it shall have first received an Opinion of
Counsel to the effect that such amendment will not subject the
Trust Fund to tax or cause the Trust Fund to fail to qualify as a
REMIC at any time that any Certificates are outstanding.
Promptly after the execution of any such amendment or
consent the Trustee shall furnish written notification of the
substance of such amendment to each Certificateholder.
It shall not be necessary for the consent of
Certificateholders under this Section 10.01 to approve the
particular form of any proposed amendment, but it shall be
sufficient if such consent shall approve the substance thereof.
114
<PAGE>
The manner of obtaining such consents and of evidencing the
authorization of the execution thereof by Certificateholders
shall be subject to such reasonable requirements as the Trustee
may prescribe.
Section 10.02. Recordation of Agreement. This
Agreement is subject to recordation in all appropriate public
offices for real property records in all the counties or other
comparable jurisdictions in which any or all of the properties
subject to the Mortgages are situated, and in any other
appropriate public recording office or elsewhere, such
recordation to be effected by the Company and at its expense on
direction by the Trustee, but only upon direction of the Trustee
accompanied by an Opinion of Counsel to the effect that such
recordation materially and beneficially affects the interests of
Certificateholders.
For the purpose of facilitating the recordation of
this Agreement as herein provided and for other purposes, this
Agreement may be executed simultaneously in any number of
counterparts, each of which counterparts shall be deemed to be an
original, and such counterparts shall constitute but one and the
same instrument.
Section 10.03. Limitation on Rights of
Certificateholders. The death or incapacity of any
Certificateholder shall not operate to terminate this Agreement
or the Trust Fund, nor entitle such Certificateholder's legal
representatives or heirs to claim an accounting or to take any
action or commence any proceeding in any court for a partition or
winding up of the Trust Fund, nor otherwise affect the rights,
obligations and liabilities of the parties hereto or any of them.
No Certificateholder shall have any right to vote
(except as provided in Section 10.01) or in any manner otherwise
control the operation and management of the Trust Fund, or the
obligations of the parties hereto, nor shall anything herein set
forth, or contained in the terms of the Certificates, be
construed so as to constitute the Certificateholders from time to
time as partners or members of an association; nor shall any
Certificateholder be under any liability to any third person by
reason of any action taken by the parties to this Agreement
pursuant to any provision hereof.
No Certificateholder shall have any right by virtue or
by availing itself of any provisions of this Agreement to
institute any suit, action or proceeding in equity or at law upon
or under or with respect to this Agreement, unless such Holder
previously shall have given to the Trustee a written notice of
default and of the continuance thereof, as hereinbefore provided,
and unless also the Holders of Certificates of each Class
affected thereby evidencing, as to each such Class, Percentage
115
<PAGE>
Interests aggregating not less than 25% shall have made written
request upon the Trustee to institute such action, suit or
proceeding in its own name as Trustee hereunder and shall have
offered to the Trustee such reasonable indemnity as it may
require against the costs, expenses and liabilities to be
incurred therein or thereby, and the Trustee, for 60 days after
its receipt of such notice, request and offer of indemnity, shall
have neglected or refused to institute any such action, suit or
proceeding; it being understood and intended, and being expressly
covenanted by each Certificateholder with every other
Certificateholder and the Trustee, that no one or more Holders of
Certificates shall have any right in any manner whatever by
virtue or by availing itself or themselves of any provisions of
this Agreement to affect, disturb or prejudice the rights of the
Holders of any other of the Certificates, or to obtain or seek to
obtain priority over or preference to any other such Holder, or
to enforce any right under this Agreement, except in the manner
herein provided and for the equal, ratable and common benefit of
all Certificateholders. For the protection and enforcement of the
provisions of this Section 10.03, each and every
Certificateholder and the Trustee shall be entitled to such
relief as can be given either at law or in equity.
Section 10.04. Governing Law. THIS AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK
AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER
SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.
Section 10.05. Notices. All demands, notices and
communications hereunder shall be in writing and shall be deemed
to have been duly given if personally delivered at or mailed by
certified mail, return receipt requested, (a) in the case of the
Company, to GE Capital Mortgage Services, Inc., 3 Executive
Campus, Cherry Hill, New Jersey 08002, Attention: General
Counsel, (b) in the case of the Trustee, to State Street Bank and
Trust Company, Corporate Trust Department, 225 Franklin Street,
Boston, Massachusetts 02110, (c) in the case of Fitch, to Fitch
Investors Service, L.P., One State Street Plaza, New York, New
York 10004, Attention: Structured Finance Surveillance, and (d)
in the case of Moody's, to Moody's Investors Service, Inc., 99
Church Street, New York, New York 10007, Attention:
Mortgage-Backed Securities, or, as to each such Person, at such
other address as shall be designated by such Person in a written
notice to each other named Person. Any notice required or
permitted to be mailed to a Certificateholder shall be given by
first class mail, postage prepaid, at the address of such Holder
as shown in the Certificate Register. Any notice so mailed within
the time prescribed in this Agreement shall be conclusively
presumed to have been duly given, whether or not the
Certificateholder receives such notice.
116
<PAGE>
Section 10.06. Notices to the Rating Agencies. The
Company shall deliver written notice of the following events to
each Rating Agency promptly following the occurrence thereof:
material amendment to this Agreement; any Event of Default; any
Trigger Event; change in or termination of the Trustee; removal
of the Company or any successor servicer as servicer; repurchase
or replacement of any Defective Mortgage Loan pursuant to Section
2.03; and final payment to Certificateholders. In addition, the
Company shall deliver copies of the following documents to each
Rating Agency at the time such documents are required to be
delivered pursuant to this Agreement: monthly statements to
Certificateholders pursuant to Section 4.05, annual report of
independent accountants pursuant to Section 3.13 and annual
servicer compliance report pursuant to Section 3.12.
Notwithstanding the foregoing, the failure to deliver such
notices or copies shall not constitute an Event of Default under
this Agreement.
Section 10.07. Severability of Provisions. If any one
or more of the covenants, agreements, provisions or terms of this
Agreement shall be for any reason whatsoever held invalid, then
to the extent permitted by law such covenants, agreements,
provisions or terms shall be deemed severable from the remaining
covenants, agreements, provisions or terms of this Agreement and
shall in no way affect the validity or enforceability of the
other provisions of this Agreement or of the Certificates or the
rights of the Holders thereof.
Section 10.08. Certificates Nonassessable and Fully
Paid. It is the intention of the Trustee that Certificateholders
shall not be personally liable for obligations of the Trust Fund,
that the beneficial ownership interests represented by the
Certificates shall be nonassessable for any losses or expenses of
the Trust Fund or for any reason whatsoever, and that
Certificates upon execution, countersignature and delivery
thereof by the Trustee are and shall be deemed fully paid.
* * *
117
<PAGE>
IN WITNESS WHEREOF, the Company and the Trustee have
caused this Agreement to be duly executed by their respective
officers and their respective seals, duly attested, to be
hereunto affixed, all as of the day and year first above written.
GE CAPITAL MORTGAGE
SERVICES, INC.
By:_________________________
Name:
Title:
[SEAL]
Attest:
By:_________________________
Name:
Title:
STATE STREET BANK AND
TRUST COMPANY,
as Trustee
By:_________________________
Name:
Title:
[SEAL]
Attest:
By:_________________________
Name:
Title:
<PAGE>
State of New Jersey )
) ss.:
County of Camden )
On the day of July, 1997 before me, a notary
public in and for the State of New Jersey, personally appeared
_______________________, known to me who, being by me duly sworn,
did depose and say that he/she resides at
_______________________________________________________________;
that he/she is a(n) _________________________ of GE Capital
Mortgage Services, Inc., a corporation formed under the laws of
the State of New Jersey, one of the parties that executed the
foregoing instrument; that he/she knows the seal of said
corporation; that the seal affixed to said instrument is such
corporate seal; that it was so affixed by order of the Board of
Directors of said corporation; and that he/she signed his/her
name thereto by like order.
________________________________
Notary Public
[Notarial Seal]
<PAGE>
The Commonwealth of Massachusetts )
) ss.:
County of Suffolk )
On the day of July, 1997 before me, a notary public in
and for the Commonwealth of Massachusetts, personally appeared
____________________, known to me who, being by me duly sworn,
did depose and say that he/she resides at
_______________________________________________________________;
that he/she is a(n) __________________________________ of State
Street Bank and Trust Company, one of the parties that executed
the foregoing instrument; that he/she knows the seal of said
Bank; that the seal affixed to said instrument is such corporate
seal; that it was so affixed by order of the Board of Directors
of said Bank; and that he/she signed his/her name thereto by
order of the Board of Directors of said Bank.
________________________________
Notary Public
[Notarial Seal]
<PAGE>
EXHIBIT A
FORMS OF CERTIFICATES
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS
DISTRIBUTABLE AS SET FORTH IN THE AGREEMENT (AS DEFINED HEREIN).
ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE
PRINCIPAL BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF GE
CAPITAL MORTGAGE SERVICES, INC. OR THE TRUSTEE (AS DEFINED
HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1997-7
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A1 Certificate
Principal Balance:
Class A1 $31,542,857.00
Certificate Interest Initial Certificate Principal
Rate per annum: 9.00% Balance of this Certificate:
$
Cut-off Date:
July 1, 1997
First Distribution Date: CUSIP: 36157T7D7
August 25, 1997
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A1 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of July 1, 1997 (the "Agreement") between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in August 1997, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on
<PAGE>
this Certificate will be made in the applicable manner described
above, after due notice by the Trustee of the pendency of such
distribution and only upon presentation and surrender of this
Certificate at the office or agency maintained for that purpose
by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1997-7, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class M, Class B1, Class B2, Class B3, Class B4, Class B5, Class
PO and Class S, herein called the "Certificates").
The Certificates are limited in right of payment to
certain payments on and collections in respect of the Mortgage
Loans, all as more specifically set forth in the Agreement. The
Certificateholder, by its acceptance of this Certificate, agrees
that it will look solely to the funds on deposit in the
Certificate Account for payment hereunder and that the Trustee in
its individual capacity is not personally liable to the
Certificateholders for any amount payable under this Certificate
or the Agreement or, except as expressly provided in the
Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain
exceptions therein provided, certain losses on the Mortgage Loans
resulting from defaults by Mortgagors will be borne by the
Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the
Holders of the other Classes of the Certificates.
This Certificate does not purport to summarize the
Agreement and reference is made to the Agreement for the
interests, rights and limitations of rights, benefits,
obligations and duties evidenced hereby, and the rights, duties
and immunities of the Trustee.
The Agreement permits, with certain exceptions therein
provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the
Certificateholders under the Agreement at any time by the Company
and the Trustee with the consent of the Holders of Certificates
<PAGE>
evidencing not less than 66% of all the Voting Rights as defined
in the Agreement. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and
upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange
herefor or in lieu hereof whether or not notation of such consent
is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the
consent of the Holders of any of the Certificates.
No transfer of any Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate which is in the form of a
Definitive Certificate shall be made to any Person unless the
Trustee has received (i) a certificate from such transferee to
the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Internal Revenue Code of 1986, as amended ("Section 4975") (a
"Plan") or a Person that is using the assets of a Plan to acquire
such Certificate or (y) is an insurance company investing assets
of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Exemption
95-60, 60 Fed. Reg. 35925 (July 12, 1995) (the "Exemption")
applies to such transferee's acquisition and holding of such
Certificate, or (ii) an opinion of counsel satisfactory to the
Trustee, which opinion shall not be an expense of the Trustee or
the Company, to the effect that the purchase and holding of such
Certificate will not constitute or result in the assets of the
Trust Fund being deemed to be "plan assets" and subject to the
prohibited transaction provisions of ERISA or Section 4975 and
will not subject the Trustee or the Company to any obligation in
addition to those undertaken in the Agreement; provided, however,
that the Trustee will not require such certificate or opinion in
the event that, as a result of a change of law or otherwise,
counsel satisfactory to the Trustee has rendered an opinion to
the effect that the purchase and holding of a Class M, Class B1,
Class B2, Class B3, Class B4 or Class B5 Certificate by a Plan or
a Person that is purchasing or holding such Certificate with the
assets of a Plan will not constitute or result in a prohibited
transaction under ERISA or Section 4975.
No transfer of any Class R Certificate shall be made
to any Person unless the Trustee has received a certificate from
such
<PAGE>
transferee to the effect that, among other things, such transferee
(x) is not an employee benefit plan subject to ERISA or a Plan or
a Person that is using the assets of a Plan to acquire any such
Class R Certificate or (y) is an insurance company investing
assets of its general account and the Exemption applies to such
transferee's acquisition and holding of any such Class R
Certificate.
As provided in the Agreement, and subject to certain
limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register of the Trustee upon
surrender of this Certificate for registration of transfer at the
office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the
City of New York, accompanied by a written instrument of transfer
in form satisfactory to the Company, the Trustee, and the
Certificate Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and thereupon one
or more new Certificates of the same Class of authorized
denominations evidencing the same aggregate Percentage Interest
will be issued to the designated transferee or transferees.
The Certificates are issuable only as registered
Certificates without coupons in denominations specified in the
Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Certificates are exchangeable for
new Certificates of the same Class of authorized denominations
evidencing the same aggregate Percentage Interest as requested by
the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may require
payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any
agent of the Trustee or the Certificate Registrar may treat the
Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate
Registrar nor any such agent shall be affected by any notice to
the contrary.
<PAGE>
The obligations and responsibilities created by the
Agreement, and the Trust Fund created thereby shall terminate
upon payment to the Certificateholders, or provision therefor, in
accordance with the Agreement following the earlier of (a) the
repurchase by the Company of all Mortgage Loans and all property
acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than a Mortgage
Loan described in clause (y)) plus accrued and unpaid interest
thereon at the rate provided for in the Agreement (less any
amounts representing previously unreimbursed Monthly Advances)
and (y) the appraised value of any property acquired in respect
of a Mortgage Loan determined as provided in the Agreement, and
(b) the later of the final payment or other liquidation (or any
Monthly Advance with respect thereto) of the last Mortgage Loan
remaining in the Trust Fund and the disposition of all property
acquired upon foreclosure or by deed in lieu of foreclosure of
any Mortgage Loan. The right of the Company to repurchase all the
Mortgage Loans and property in respect of Mortgage Loans is
subject to the Pool Scheduled Principal Balance at the time of
repurchase being less than 10 percent of the Pool Scheduled
Principal Balance as of the Cut-off Date. The Company's exercise
of such right will result in early retirement of the
Certificates.
Unless this Certificate has been countersigned by the
Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any
purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:__________________________
Name:
Title:
Countersigned:
By________________________
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:___________________
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s),
assign(s) and transfer(s) unto
Please insert social security
or other identifying number of assignee
_________________________________________________________________
_________________________________________________________________
(Please print or typewrite name and address
including postal zip code of assignee)
_________________________________________________________________
this Certificate evidencing a Percentage Interest in certain
distributions with respect to the Trust Fund and hereby
authorizes the transfer of registration of such interest to
assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to
issue a new Certificate of like Class and Percentage Interest, to
the above named assignee and deliver such Certificate to the
following address:
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
Dated:
_________________________
______________________________________
Signature by or on behalf of assignor
_______________________________
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company
or broker of the signatory who is a member of a signature
guarantee medallion program.
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1997-7
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A2 Certificate
Principal Balance:
Class A2 $5,674,200.00
Certificate Interest Initial Certificate Principal
Rate per annum: 7.20% Balance of this Certificate:
$
Cut-off Date:
July 1, 1997
First Distribution Date: CUSIP: 36157T7E5
August 25, 1997
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A2 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of July 1, 1997 (the "Agreement") between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in August 1997, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1997-7
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A3 Certificate
Principal Balance:
Class A3 $149,968,896.00
Certificate Interest Initial Certificate Principal
Rate per annum: 7.15% Balance of this Certificate:
$
Cut-off Date:
July 1, 1997
First Distribution Date: CUSIP: 36157T7F2
August 25, 1997
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A3 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of July 1, 1997 (the "Agreement") between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in August 1997, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1997-7
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A4 Certificate
Principal Balance:
Class A4 $16,769,592.00
Certificate Interest Initial Certificate Principal
Rate per annum: 7.125% Balance of this Certificate:
$
Cut-off Date:
July 1, 1997
First Distribution Date: CUSIP: 36157T7G0
August 25, 1997
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A4 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of July 1, 1997 (the "Agreement") between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in August 1997, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1997-7
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A5 Certificate
Principal Balance:
Class A5 $35,353,749.00
Certificate Interest Initial Certificate Principal
Rate per annum: 8.00% Balance of this Certificate:
$
Cut-off Date:
July 1, 1997
First Distribution Date: CUSIP: 36157T7H8
August 25, 1997
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A5 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of July 1, 1997 (the "Agreement") between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in August 1997, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1997-7
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A6 Certificate
Principal Balance:
Class A6 $12,029,747.00
Certificate Interest Initial Certificate Principal
Rate per annum: 7.125% Balance of this Certificate:
$
Cut-off Date:
July 1, 1997
First Distribution Date: CUSIP: 36157T7J4
August 25, 1997
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A6 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of July 1, 1997 (the "Agreement") between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in August 1997, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1997-7
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A7 Certificate
Principal Balance:
Class A7 $4,180,000.00
Certificate Interest Initial Certificate Principal
Rate per annum: 7.50% Balance of this Certificate:
$
Cut-off Date:
July 1, 1997
First Distribution Date: CUSIP: 36157T7K1
August 25, 1997
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A7 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of July 1, 1997 (the "Agreement") between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in August 1997, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1997-7
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A8 Certificate
Principal Balance:
Class A8 $2,760,000.00
Certificate Interest Initial Certificate Principal
Rate per annum: 7.50% Balance of this Certificate:
$
Cut-off Date:
July 1, 1997
First Distribution Date: CUSIP: 36157T7L9
August 25, 1997
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A8 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of July 1, 1997 (the "Agreement") between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in August 1997, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1997-7
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A9 Certificate
Principal Balance:
Class A9 $6,800,000.00
Certificate Interest Initial Certificate Principal
Rate per annum: 7.50% Balance of this Certificate:
$
Cut-off Date:
July 1, 1997
First Distribution Date: CUSIP: 36157T7M7
August 25, 1997
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A9 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of July 1, 1997 (the "Agreement") between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in August 1997, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1997-7
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A10 Certificate
Principal Balance:
Class A10 $10,000,000.00
Certificate Interest Initial Certificate Principal
Rate per annum: 8.00% Balance of this Certificate:
$
Cut-off Date:
July 1, 1997
First Distribution Date: CUSIP: 36157T7N5
August 25, 1997
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A10 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of July 1, 1997 (the "Agreement") between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in August 1997, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1997-7
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A11 Certificate
Principal Balance:
Class A11 $40,000,000.00
Certificate Interest Initial Certificate Principal
Rate per annum: 7.50% Balance of this Certificate:
$
Cut-off Date:
July 1, 1997
First Distribution Date: CUSIP: 36157T7P0
August 25, 1997
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A11 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of July 1, 1997 (the "Agreement") between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in August 1997, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1997-7
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A12 Certificate
Principal Balance:
Class A12 $20,000,000.00
Certificate Interest Initial Certificate Principal
Rate per annum: 7.25% Balance of this Certificate:
$
Cut-off Date:
July 1, 1997
First Distribution Date: CUSIP: 36157T7Q8
August 25, 1997
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A12 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of July 1, 1997 (the "Agreement") between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in August 1997, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO
CERTAIN CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN THE
AGREEMENT REFERRED TO HEREIN.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE
IS DISTRIBUTABLE AS SET FORTH IN THE AGREEMENT (AS DEFINED
HEREIN). ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE
PRINCIPAL BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF GE
CAPITAL MORTGAGE SERVICES, INC. OR THE TRUSTEE (AS DEFINED
HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS
OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED
HEREIN. THE TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN
OTHER RESTRICTIONS AS SET FORTH HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1997-7
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class M Certificate
Principal Balance:
Class M $5,253,699.00
Certificate Interest Initial Certificate Principal
Rate per annum: 7.50% Balance of this Certificate:
$
Cut-off Date:
July 1, 1997
First Distribution Date: CUSIP: 36157T7T2
August 25, 1997
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class M Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of July 1, 1997 (the "Agreement") between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in August 1997, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on
<PAGE>
this Certificate will be made in the applicable manner described
above, after due notice by the Trustee of the pendency of such
distribution and only upon presentation and surrender of this
Certificate at the office or agency maintained for that purpose
by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1997-7, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class M, Class B1, Class B2, Class B3, Class B4, Class B5, Class
PO and Class S, herein called the "Certificates").
The Certificates are limited in right of payment to
certain payments on and collections in respect of the Mortgage
Loans, all as more specifically set forth in the Agreement. The
Certificateholder, by its acceptance of this Certificate, agrees
that it will look solely to the funds on deposit in the
Certificate Account for payment hereunder and that the Trustee in
its individual capacity is not personally liable to the
Certificateholders for any amount payable under this Certificate
or the Agreement or, except as expressly provided in the
Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain
exceptions therein provided, certain losses on the Mortgage Loans
resulting from defaults by Mortgagors will be borne by the
Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the
Holders of the other Classes of the Certificates.
This Certificate does not purport to summarize the
Agreement and reference is made to the Agreement for the
interests, rights and limitations of rights, benefits,
obligations and duties evidenced hereby, and the rights, duties
and immunities of the Trustee.
The Agreement permits, with certain exceptions therein
provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the
Certificateholders under the Agreement at any time by the Company
and the Trustee with the consent of the Holders of Certificates
<PAGE>
evidencing not less than 66% of all the Voting Rights as defined
in the Agreement. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and
upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange
herefor or in lieu hereof whether or not notation of such consent
is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the
consent of the Holders of any of the Certificates.
No transfer of any Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate which is in the form of a
Definitive Certificate shall be made to any Person unless the
Trustee has received (i) a certificate from such transferee to
the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Internal Revenue Code of 1986, as amended ("Section 4975") (a
"Plan") or a Person that is using the assets of a Plan to acquire
such Certificate or (y) is an insurance company investing assets
of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Exemption
95-60, 60 Fed. Reg. 35925 (July 12, 1995) (the "Exemption")
applies to such transferee's acquisition and holding of such
Certificate, or (ii) an opinion of counsel satisfactory to the
Trustee, which opinion shall not be an expense of the Trustee or
the Company, to the effect that the purchase and holding of such
Certificate will not constitute or result in the assets of the
Trust Fund being deemed to be "plan assets" and subject to the
prohibited transaction provisions of ERISA or Section 4975 and
will not subject the Trustee or the Company to any obligation in
addition to those undertaken in the Agreement; provided, however,
that the Trustee will not require such certificate or opinion in
the event that, as a result of a change of law or otherwise,
counsel satisfactory to the Trustee has rendered an opinion to
the effect that the purchase and holding of a Class M, Class B1,
Class B2, Class B3, Class B4 or Class B5 Certificate by a Plan or
a Person that is purchasing or holding such Certificate with the
assets of a Plan will not constitute or result in a prohibited
transaction under ERISA or Section 4975.
No transfer of any Class R Certificate shall be made
to any Person unless the Trustee has received a certificate from
such
<PAGE>
transferee to the effect that, among other things, such transferee
(x) is not an employee benefit plan subject to ERISA or a Plan or
a Person that is using the assets of a Plan to acquire any such
Class R Certificate or (y) is an insurance company investing
assets of its general account and the Exemption applies to such
transferee's acquisition and holding of any such Class R
Certificate.
As provided in the Agreement, and subject to certain
limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register of the Trustee upon
surrender of this Certificate for registration of transfer at the
office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the
City of New York, accompanied by a written instrument of transfer
in form satisfactory to the Company, the Trustee, and the
Certificate Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and thereupon one
or more new Certificates of the same Class of authorized
denominations evidencing the same aggregate Percentage Interest
will be issued to the designated transferee or transferees.
The Certificates are issuable only as registered
Certificates without coupons in denominations specified in the
Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Certificates are exchangeable for
new Certificates of the same Class of authorized denominations
evidencing the same aggregate Percentage Interest as requested by
the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may require
payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any
agent of the Trustee or the Certificate Registrar may treat the
Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate
Registrar nor any such agent shall be affected by any notice to
the contrary.
<PAGE>
The obligations and responsibilities created by the
Agreement, and the Trust Fund created thereby shall terminate
upon payment to the Certificateholders, or provision therefor, in
accordance with the Agreement following the earlier of (a) the
repurchase by the Company of all Mortgage Loans and all property
acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than a Mortgage
Loan described in clause (y)) plus accrued and unpaid interest
thereon at the rate provided for in the Agreement (less any
amounts representing previously unreimbursed Monthly Advances)
and (y) the appraised value of any property acquired in respect
of a Mortgage Loan determined as provided in the Agreement, and
(b) the later of the final payment or other liquidation (or any
Monthly Advance with respect thereto) of the last Mortgage Loan
remaining in the Trust Fund and the disposition of all property
acquired upon foreclosure or by deed in lieu of foreclosure of
any Mortgage Loan. The right of the Company to repurchase all the
Mortgage Loans and property in respect of Mortgage Loans is
subject to the Pool Scheduled Principal Balance at the time of
repurchase being less than 10 percent of the Pool Scheduled
Principal Balance as of the Cut-off Date. The Company's exercise
of such right will result in early retirement of the
Certificates.
Unless this Certificate has been countersigned by the
Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any
purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:___________________________
Name:
Title:
Countersigned:
By____________________________
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:________________________
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s),
assign(s) and transfer(s) unto
Please insert social security
or other identifying number of assignee
_________________________________________________________________
_________________________________________________________________
(Please print or typewrite name and address
including postal zip code of assignee)
_________________________________________________________________
this Certificate evidencing a Percentage Interest in certain
distributions with respect to the Trust Fund and hereby
authorizes the transfer of registration of such interest to
assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to
issue a new Certificate of like Class and Percentage Interest, to
the above named assignee and deliver such Certificate to the
following address:
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
Dated:
_________________________
______________________________________
Signature by or on behalf of assignor
_______________________________
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company
or broker of the signatory who is a member of a signature
guarantee medallion program.
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO
CERTAIN CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN THE
AGREEMENT REFERRED TO HEREIN.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS
DISTRIBUTABLE AS SET FORTH IN THE AGREEMENT (AS DEFINED HEREIN).
ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE
PRINCIPAL BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF GE
CAPITAL MORTGAGE SERVICES, INC. OR THE TRUSTEE (AS DEFINED
HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS
OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED
HEREIN. THE TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN
OTHER RESTRICTIONS AS SET FORTH HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1997-7
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B1 Certificate
Principal Balance:
Class B1 $3,502,466.00
Certificate Interest Initial Certificate Principal
Rate per annum: 7.50% Balance of this Certificate:
$
Cut-off Date:
July 1, 1997
First Distribution Date: CUSIP: 36157T7U9
August 25, 1997
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class B1 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of July 1, 1997 (the "Agreement") between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in August 1997, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO
CERTAIN CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN THE
AGREEMENT REFERRED TO HEREIN.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS
DISTRIBUTABLE AS SET FORTH IN THE AGREEMENT (AS DEFINED HEREIN).
ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE
PRINCIPAL BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF GE
CAPITAL MORTGAGE SERVICES, INC. OR THE TRUSTEE (AS DEFINED
HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS
OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED
HEREIN. THE TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN
OTHER RESTRICTIONS AS SET FORTH HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1997-7
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B2 Certificate
Principal Balance:
Class B2 $2,626,849.00
Certificate Interest Initial Certificate Principal
Rate per annum: 7.50% Balance of this Certificate:
$
Cut-off Date:
July 1, 1997
First Distribution Date: CUSIP: 36157T7V7
August 25, 1997
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class B2 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of July 1, 1997 (the "Agreement") between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in August 1997, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO
CERTAIN CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN THE
AGREEMENT REFERRED TO HEREIN.
THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR
THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES ("BLUE SKY
LAWS"), AND SUCH CERTIFICATE MAY NOT BE OFFERED, RESOLD, PLEDGED
OR OTHERWISE TRANSFERRED EXCEPT (A) TO A PERSON WHOM THE SELLER
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A UNDER THE SECURITIES ACT IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (B) PURSUANT TO AN
EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (C) TO AN INSTITUTIONAL
ACCREDITED INVESTOR AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7)
OF REGULATION D UNDER THE SECURITIES ACT, IN EACH CASE IN A
TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND IN ACCORDANCE WITH ANY APPLICABLE BLUE SKY
LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF THE
EXEMPTION PROVIDED BY RULE 144 FOR RESALES OF THIS CERTIFICATE.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS
DISTRIBUTABLE AS SET FORTH IN THE AGREEMENT (AS DEFINED HEREIN).
ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE
PRINCIPAL BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF GE
CAPITAL MORTGAGE SERVICES, INC. OR THE TRUSTEE (AS DEFINED
HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
<PAGE>
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS
OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED
HEREIN. THE TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN
OTHER RESTRICTIONS AS SET FORTH HEREIN.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1997-7
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B3 Certificate
Principal Balance:
Class B3 $1,751,233.00
Certificate Interest Initial Certificate Principal
Rate per annum: 7.50% Balance of this Certificate:
$
Cut-off Date:
July 1, 1997
First Distribution Date: CUSIP: 36157T7W5
August 25, 1997
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class B3 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of July 1, 1997 (the "Agreement") between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in August 1997, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on
<PAGE>
this Certificate will be made in the applicable manner described
above, after due notice by the Trustee of the pendency of such
distribution and only upon presentation and surrender of this
Certificate at the office or agency maintained for that purpose
by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1997-7, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class M, Class B1, Class B2, Class B3, Class B4, Class B5, Class
PO and Class S, herein called the "Certificates").
The Certificates are limited in right of payment to
certain payments on and collections in respect of the Mortgage
Loans, all as more specifically set forth in the Agreement. The
Certificateholder, by its acceptance of this Certificate, agrees
that it will look solely to the funds on deposit in the
Certificate Account for payment hereunder and that the Trustee in
its individual capacity is not personally liable to the
Certificateholders for any amount payable under this Certificate
or the Agreement or, except as expressly provided in the
Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain
exceptions therein provided, certain losses on the Mortgage Loans
resulting from defaults by Mortgagors will be borne by the
Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the
Holders of the other Classes of the Certificates.
This Certificate does not purport to summarize the
Agreement and reference is made to the Agreement for the
interests, rights and limitations of rights, benefits,
obligations and duties evidenced hereby, and the rights, duties
and immunities of the Trustee.
The Agreement permits, with certain exceptions therein
provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the
Certificateholders under the Agreement at any time by the Company
and the Trustee with the consent of the Holders of Certificates
<PAGE>
evidencing not less than 66% of all the Voting Rights as defined
in the Agreement. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and
upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange
herefor or in lieu hereof whether or not notation of such consent
is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the
consent of the Holders of any of the Certificates.
No transfer of any Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate which is in the form of a
Definitive Certificate shall be made to any Person unless the
Trustee has received (i) a certificate from such transferee to
the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Internal Revenue Code of 1986, as amended ("Section 4975") (a
"Plan") or a Person that is using the assets of a Plan to acquire
such Certificate or (y) is an insurance company investing assets
of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Exemption
95-60, 60 Fed. Reg. 35925 (July 12, 1995) (the "Exemption")
applies to such transferee's acquisition and holding of such
Certificate, or (ii) an opinion of counsel satisfactory to the
Trustee, which opinion shall not be an expense of the Trustee or
the Company, to the effect that the purchase and holding of such
Certificate will not constitute or result in the assets of the
Trust Fund being deemed to be "plan assets" and subject to the
prohibited transaction provisions of ERISA or Section 4975 and
will not subject the Trustee or the Company to any obligation in
addition to those undertaken in the Agreement; provided, however,
that the Trustee will not require such certificate or opinion in
the event that, as a result of a change of law or otherwise,
counsel satisfactory to the Trustee has rendered an opinion to
the effect that the purchase and holding of a Class M, Class B1,
Class B2, Class B3, Class B4 or Class B5 Certificate by a Plan or
a Person that is purchasing or holding such Certificate with the
assets of a Plan will not constitute or result in a prohibited
transaction under ERISA or Section 4975.
No transfer of any Class R Certificate shall be made
to any Person unless the Trustee has received a certificate from
such
<PAGE>
transferee to the effect that, among other things, such transferee
(x) is not an employee benefit plan subject to ERISA or a Plan or
a Person that is using the assets of a Plan to acquire any such
Class R Certificate or (y) is an insurance company investing
assets of its general account and the Exemption applies to such
transferee's acquisition and holding of any such Class R
Certificate.
As provided in the Agreement, and subject to certain
limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register of the Trustee upon
surrender of this Certificate for registration of transfer at the
office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the
City of New York, accompanied by a written instrument of transfer
in form satisfactory to the Company, the Trustee, and the
Certificate Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and thereupon one
or more new Certificates of the same Class of authorized
denominations evidencing the same aggregate Percentage Interest
will be issued to the designated transferee or transferees.
The Certificates are issuable only as registered
Certificates without coupons in denominations specified in the
Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Certificates are exchangeable for
new Certificates of the same Class of authorized denominations
evidencing the same aggregate Percentage Interest as requested by
the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may require
payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any
agent of the Trustee or the Certificate Registrar may treat the
Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate
Registrar nor any such agent shall be affected by any notice to
the contrary.
<PAGE>
The obligations and responsibilities created by the
Agreement, and the Trust Fund created thereby shall terminate
upon payment to the Certificateholders, or provision therefor, in
accordance with the Agreement following the earlier of (a) the
repurchase by the Company of all Mortgage Loans and all property
acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than a Mortgage
Loan described in clause (y)) plus accrued and unpaid interest
thereon at the rate provided for in the Agreement (less any
amounts representing previously unreimbursed Monthly Advances)
and (y) the appraised value of any property acquired in respect
of a Mortgage Loan determined as provided in the Agreement, and
(b) the later of the final payment or other liquidation (or any
Monthly Advance with respect thereto) of the last Mortgage Loan
remaining in the Trust Fund and the disposition of all property
acquired upon foreclosure or by deed in lieu of foreclosure of
any Mortgage Loan. The right of the Company to repurchase all the
Mortgage Loans and property in respect of Mortgage Loans is
subject to the Pool Scheduled Principal Balance at the time of
repurchase being less than 10 percent of the Pool Scheduled
Principal Balance as of the Cut-off Date. The Company's exercise
of such right will result in early retirement of the
Certificates.
Unless this Certificate has been countersigned by the
Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any
purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:___________________________
Name:
Title:
Countersigned:
By___________________________
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:_______________________
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s),
assign(s) and transfer(s) unto
Please insert social security
or other identifying number of assignee
_________________________________________________________________
_________________________________________________________________
(Please print or typewrite name and address
including postal zip code of assignee)
_________________________________________________________________
this Certificate evidencing a Percentage Interest in certain
distributions with respect to the Trust Fund and hereby
authorizes the transfer of registration of such interest to
assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to
issue a new Certificate of like Class and Percentage Interest, to
the above named assignee and deliver such Certificate to the
following address:
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
Dated:
_________________________
______________________________________
Signature by or on behalf of assignor
_______________________________
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company
or broker of the signatory who is a member of a signature
guarantee medallion program.
<PAGE>
In connection with any transfer of this Certificate,
the undersigned registered holder hereof confirms that without
utilizing any general solicitation or general advertising:
(Check One) -
|_| (a) This Certificate is being transferred by the
undersigned to a person whom the undersigned
reasonably believes is a "qualified
institutional buyer" (as defined in Rule 144A
under the Securities Act of 1933, as amended)
pursuant to the exemption from registration
under the Securities Act of 1933, as amended,
provided by Rule 144A thereunder.
|_| (b) This Certificate is being transferred by the
undersigned to an institutional "accredited
investor" (as defined in Rule 501(a)(1), (2),
(3) or (7) of Regulation D under the
Securities Act of 1933, as amended) and that
the undersigned has been advised by the
prospective purchaser that it intends to hold
this Certificate for investment and not for
distribution or resale.
Dated______________________ _________________________________
(Signature)
If none of the foregoing boxes is checked, the Trustee shall not
be obligated to register this Certificate in the name of any
person other than the registered holder thereof unless and until
the conditions to any such transfer of registration set forth
herein, and in the Pooling and Servicing Agreement have been
satisfied.
TO BE COMPLETED BY PURCHASER IF (a) ABOVE IS CHECKED:
The undersigned represents and warrants that (i) it is
a "qualified institutional buyer" (as defined in Rule 144A under
the
<PAGE>
Securities Act of 1933, as amended) and acknowledges that it has
received such information as the undersigned has requested
pursuant to Rule 144A or has determined not to request such
information and that it is aware that the registered holder is
relying upon the undersigned's foregoing representations in order
to claim the exemption from registration provided by Rule 144A,
and (ii) the undersigned (x) is not an employee benefit plan
subject to the Employee Retirement Income Security Act of 1974,
as amended, or a plan subject to Section 4975 of the Internal
Revenue Code of 1986, as amended, and is not using the assets of
any such employee benefit or other plan to acquire this
Certificate or (y) is an insurance company investing assets of
its general account and the exemptions provided by Section III(a)
of Department of Labor Prohibited Transaction Exemption 95-60, 60
Fed. Reg. 35925 (July 12, 1995), apply to the acquisition and
holding by the undersigned of this Certificate.
Dated______________________ _________________________________
(Signature)
TO BE COMPLETED BY PURCHASER IF (b) ABOVE IS CHECKED:
The undersigned represents and warrants that (i) it is
an institutional "accredited investor" (as defined in Rule
501(a)(1), (2), (3) or (7) of Regulation D under the Securities
Act of 1933, as amended), and (ii) the undersigned (x) is not an
employee benefit plan subject to the Employee Retirement Income
Security Act of 1974, as amended, or a plan subject to Section
4975 of the Internal Revenue Code of 1986, as amended, and is not
using the assets of any such employee benefit or other plan to
acquire this Certificate or (y) is an insurance company investing
assets of its general account and the exemptions provided by
Section III(a) of Department of Labor Prohibited Transaction
Exemption 95-60, 60 Fed. Reg. 35925 (July 12, 1995), apply to the
acquisition and holding by the undersigned of this Certificate.
Dated______________________ _________________________________
(Signature)
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO
CERTAIN CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN THE
AGREEMENT REFERRED TO HEREIN.
THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR
THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES ("BLUE SKY
LAWS"), AND SUCH CERTIFICATE MAY NOT BE OFFERED, RESOLD, PLEDGED
OR OTHERWISE TRANSFERRED EXCEPT (A) TO A PERSON WHOM THE SELLER
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A UNDER THE SECURITIES ACT IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (B) PURSUANT TO AN
EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (C) TO AN INSTITUTIONAL
ACCREDITED INVESTOR AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7)
OF REGULATION D UNDER THE SECURITIES ACT, IN EACH CASE IN A
TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND IN ACCORDANCE WITH ANY APPLICABLE BLUE SKY
LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF THE
EXEMPTION PROVIDED BY RULE 144 FOR RESALES OF THIS CERTIFICATE.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS
DISTRIBUTABLE AS SET FORTH IN THE AGREEMENT (AS DEFINED HEREIN).
ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE
PRINCIPAL BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF GE
CAPITAL MORTGAGE SERVICES, INC. OR THE TRUSTEE (AS DEFINED
HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
<PAGE>
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS
OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED
HEREIN. THE TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN
OTHER RESTRICTIONS AS SET FORTH HEREIN.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1997-7
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B4 Certificate
Principal Balance:
Class B4 $525,369.00
Certificate Interest Initial Certificate Principal
Rate per annum: 7.50% Balance of this Certificate:
$
Cut-off Date:
July 1, 1997
First Distribution Date: CUSIP: 36157T7X3
August 25, 1997
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class B4 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of July 1, 1997 (the "Agreement") between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in August 1997, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO
CERTAIN CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN THE
AGREEMENT REFERRED TO HEREIN.
THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR
THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES ("BLUE SKY
LAWS"), AND SUCH CERTIFICATE MAY NOT BE OFFERED, RESOLD, PLEDGED
OR OTHERWISE TRANSFERRED EXCEPT (A) TO A PERSON WHOM THE SELLER
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A UNDER THE SECURITIES ACT IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (B) PURSUANT TO AN
EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (C) TO AN INSTITUTIONAL
ACCREDITED INVESTOR AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7)
OF REGULATION D UNDER THE SECURITIES ACT, IN EACH CASE IN A
TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND IN ACCORDANCE WITH ANY APPLICABLE BLUE SKY
LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF THE
EXEMPTION PROVIDED BY RULE 144 FOR RESALES OF THIS CERTIFICATE.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS
DISTRIBUTABLE AS SET FORTH IN THE AGREEMENT (AS DEFINED HEREIN).
ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE
PRINCIPAL BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF GE
CAPITAL MORTGAGE SERVICES, INC. OR THE TRUSTEE (AS DEFINED
HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
<PAGE>
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS
OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED
HEREIN. THE TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN
OTHER RESTRICTIONS AS SET FORTH HEREIN.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1997-7
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B5 Certificate
Principal Balance:
Class B5 $1,225,865.25
Certificate Interest Initial Certificate Principal
Rate per annum: 7.50% Balance of this Certificate:
$
Cut-off Date:
July 1, 1997
First Distribution Date: CUSIP: 36157T7Y1
August 25, 1997
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class B5 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of July 1, 1997 (the "Agreement") between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in August 1997, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A
"RESIDUAL INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS
860G(a)(2) AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS
AMENDED (THE "CODE"). A TRANSFEREE OF THIS CERTIFICATE, BY
ACCEPTANCE HEREOF, IS DEEMED TO HAVE ACCEPTED THIS CERTIFICATE
SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFERABILITY AS SET FORTH
IN THE AGREEMENT, AND SHALL BE REQUIRED TO FURNISH AN AFFIDAVIT
TO THE TRANSFEROR AND THE TRUSTEE TO THE EFFECT THAT IT IS NOT A
DISQUALIFIED ORGANIZATION, AS SUCH TERM IS DEFINED IN CODE
SECTION 860E(e)(5), AN AGENT (INCLUDING A BROKER, NOMINEE OR
OTHER MIDDLEMAN) FOR SUCH DISQUALIFIED ORGANIZATION, OR AN ENTITY
THAT HOLDS REMIC RESIDUAL SECURITIES AS NOMINEE TO FACILITATE THE
CLEARANCE AND SETTLEMENT OF SUCH SECURITIES THROUGH BOOK-ENTRY
CHANGES IN ACCOUNTS OF PARTICIPATING ORGANIZATIONS (A "BOOK-ENTRY
NOMINEE") AND TO HAVE AGREED TO SUCH AMENDMENTS TO THE AGREEMENT
AS MAY BE REQUIRED TO FURTHER EFFECTUATE THE RESTRICTIONS ON
TRANSFERS TO DISQUALIFIED ORGANIZATIONS, AGENTS THEREOF OR
BOOK-ENTRY NOMINEES.
THE HOLDER OF THIS CLASS R CERTIFICATE, BY ACCEPTANCE HEREOF, IS
DEEMED TO HAVE IRREVOCABLY APPOINTED THE COMPANY AS ITS AGENT AND
ATTORNEY-IN-FACT TO ACT AS "TAX MATTERS PERSON" OF THE REMIC TO
PERFORM THE FUNCTIONS OF A "TAX MATTERS PARTNER" FOR PURPOSES OF
SUBCHAPTER C OF CHAPTER 63 OF SUBTITLE F OF THE CODE, WITH
RESPECT TO THE TRUST FUND.
<PAGE>
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
DISQUALIFIED ORGANIZATION, BOOK-ENTRY NOMINEE OR NON-PERMITTED
FOREIGN HOLDER, AS DEFINED IN THE AGREEMENT OR TO ANY EMPLOYEE
BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY
ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO SECTION
4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED ("SECTION
4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS OF A PLAN
TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED HEREIN. THE
TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN OTHER
RESTRICTIONS AS SET FORTH HEREIN.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1997-7
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class R Certificate
Principal Balance:
Class R $100.00
Certificate Interest Initial Certificate Principal
Rate per annum: 7.15% Balance of this Certificate:
$
Cut-off Date:
July 1, 1997
First Distribution Date: CUSIP: 36157T7R6
August 25, 1997
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class R Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of July 1, 1997 (the "Agreement") between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in August 1997, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on
<PAGE>
this Certificate will be made in the applicable manner described
above, after due notice by the Trustee of the pendency of such
distribution and only upon presentation and surrender of this
Certificate at the office or agency maintained for that purpose
by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1997-7, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class M, Class B1, Class B2, Class B3, Class B4, Class B5, Class
PO and Class S, herein called the "Certificates").
The Certificates are limited in right of payment to
certain payments on and collections in respect of the Mortgage
Loans, all as more specifically set forth in the Agreement. The
Certificateholder, by its acceptance of this Certificate, agrees
that it will look solely to the funds on deposit in the
Certificate Account for payment hereunder and that the Trustee in
its individual capacity is not personally liable to the
Certificateholders for any amount payable under this Certificate
or the Agreement or, except as expressly provided in the
Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain
exceptions therein provided, certain losses on the Mortgage Loans
resulting from defaults by Mortgagors will be borne by the
Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the
Holders of the other Classes of the Certificates.
This Certificate does not purport to summarize the
Agreement and reference is made to the Agreement for the
interests, rights and limitations of rights, benefits,
obligations and duties evidenced hereby, and the rights, duties
and immunities of the Trustee.
The Agreement permits, with certain exceptions therein
provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the
Certificateholders under the Agreement at any time by the Company
and the Trustee with the consent of the Holders of Certificates
<PAGE>
evidencing not less than 66% of all the Voting Rights as defined
in the Agreement. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and
upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange
herefor or in lieu hereof whether or not notation of such consent
is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the
consent of the Holders of any of the Certificates.
No transfer of any Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate which is in the form of a
Definitive Certificate shall be made to any Person unless the
Trustee has received (i) a certificate from such transferee to
the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Internal Revenue Code of 1986, as amended ("Section 4975") (a
"Plan") or a Person that is using the assets of a Plan to acquire
such Certificate or (y) is an insurance company investing assets
of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Exemption
95-60, 60 Fed. Reg. 35925 (July 12, 1995) (the "Exemption")
applies to such transferee's acquisition and holding of such
Certificate, or (ii) an opinion of counsel satisfactory to the
Trustee, which opinion shall not be an expense of the Trustee or
the Company, to the effect that the purchase and holding of such
Certificate will not constitute or result in the assets of the
Trust Fund being deemed to be "plan assets" and subject to the
prohibited transaction provisions of ERISA or Section 4975 and
will not subject the Trustee or the Company to any obligation in
addition to those undertaken in the Agreement; provided, however,
that the Trustee will not require such certificate or opinion in
the event that, as a result of a change of law or otherwise,
counsel satisfactory to the Trustee has rendered an opinion to
the effect that the purchase and holding of a Class M, Class B1,
Class B2, Class B3, Class B4 or Class B5 Certificate by a Plan or
a Person that is purchasing or holding such Certificate with the
assets of a Plan will not constitute or result in a prohibited
transaction under ERISA or Section 4975.
No transfer of any Class R Certificate shall be made
to any Person unless the Trustee has received a certificate from
such
<PAGE>
transferee to the effect that, among other things, such transferee
(x) is not an employee benefit plan subject to ERISA or a Plan or
a Person that is using the assets of a Plan to acquire any such
Class R Certificate or (y) is an insurance company investing
assets of its general account and the Exemption applies to such
transferee's acquisition and holding of any such Class R
Certificate.
As provided in the Agreement, and subject to certain
limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register of the Trustee upon
surrender of this Certificate for registration of transfer at the
office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the
City of New York, accompanied by a written instrument of transfer
in form satisfactory to the Company, the Trustee, and the
Certificate Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and thereupon one
or more new Certificates of the same Class of authorized
denominations evidencing the same aggregate Percentage Interest
will be issued to the designated transferee or transferees.
The Certificates are issuable only as registered
Certificates without coupons in denominations specified in the
Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Certificates are exchangeable for
new Certificates of the same Class of authorized denominations
evidencing the same aggregate Percentage Interest as requested by
the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may require
payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any
agent of the Trustee or the Certificate Registrar may treat the
Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate
Registrar nor any such agent shall be affected by any notice to
the contrary.
<PAGE>
The obligations and responsibilities created by the
Agreement, and the Trust Fund created thereby shall terminate
upon payment to the Certificateholders, or provision therefor, in
accordance with the Agreement following the earlier of (a) the
repurchase by the Company of all Mortgage Loans and all property
acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than a Mortgage
Loan described in clause (y)) plus accrued and unpaid interest
thereon at the rate provided for in the Agreement (less any
amounts representing previously unreimbursed Monthly Advances)
and (y) the appraised value of any property acquired in respect
of a Mortgage Loan determined as provided in the Agreement, and
(b) the later of the final payment or other liquidation (or any
Monthly Advance with respect thereto) of the last Mortgage Loan
remaining in the Trust Fund and the disposition of all property
acquired upon foreclosure or by deed in lieu of foreclosure of
any Mortgage Loan. The right of the Company to repurchase all the
Mortgage Loans and property in respect of Mortgage Loans is
subject to the Pool Scheduled Principal Balance at the time of
repurchase being less than 10 percent of the Pool Scheduled
Principal Balance as of the Cut-off Date. The Company's exercise
of such right will result in early retirement of the
Certificates.
Unless this Certificate has been countersigned by the
Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any
purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:____________________________
Name:
Title:
Countersigned:
By____________________________
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:________________________
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s),
assign(s) and transfer(s) unto
Please insert social security
or other identifying number of assignee
_________________________________________________________________
_________________________________________________________________
(Please print or typewrite name and address
including postal zip code of assignee)
_________________________________________________________________
this Certificate evidencing a Percentage Interest in certain
distributions with respect to the Trust Fund and hereby
authorizes the transfer of registration of such interest to
assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to
issue a new Certificate of like Class and Percentage Interest, to
the above named assignee and deliver such Certificate to the
following address:
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
Dated:
_________________________
_____________________________________
Signature by or on behalf of assignor
______________________________
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust
company or broker of the signatory who is a member of a
signature guarantee medallion program.
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS
DISTRIBUTABLE AS SET FORTH IN THE AGREEMENT (AS DEFINED HEREIN).
ACCORDINGLY, THE CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE INITIAL CERTIFICATE
PRINCIPAL BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS
CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF GE
CAPITAL MORTGAGE SERVICES, INC. OR THE TRUSTEE (AS DEFINED
HEREIN).
THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "ACT"). ANY RESALE OR TRANSFER OF THIS
CERTIFICATE WITHOUT REGISTRATION THEREOF UNDER THE ACT MAY ONLY
BE MADE IN A TRANSACTION EXEMPT FROM THE REGISTRATION
REQUIREMENTS OF THE ACT AND IN ACCORDANCE WITH SECTION 5.02 OF
THE AGREEMENT REFERRED TO HEREIN.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1997-7
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class PO Certificate
Principal Balance:
Class PO $281,981.71
Certificate Interest Initial Certificate Principal
Rate per annum: Balance of this Certificate:
non-interest bearing $
Cut-off Date:
July 1, 1997
First Distribution Date: CUSIP: 36157T7S4
August 25, 1997
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class PO Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of July 1, 1997 (the "Agreement") between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in August 1997, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on
<PAGE>
this Certificate will be made in the applicable manner described
above, after due notice by the Trustee of the pendency of such
distribution and only upon presentation and surrender of this
Certificate at the office or agency maintained for that purpose
by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1997-7, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class M, Class B1, Class B2, Class B3, Class B4, Class B5, Class
PO and Class S, herein called the "Certificates").
The Certificates are limited in right of payment to
certain payments on and collections in respect of the Mortgage
Loans, all as more specifically set forth in the Agreement. The
Certificateholder, by its acceptance of this Certificate, agrees
that it will look solely to the funds on deposit in the
Certificate Account for payment hereunder and that the Trustee in
its individual capacity is not personally liable to the
Certificateholders for any amount payable under this Certificate
or the Agreement or, except as expressly provided in the
Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain
exceptions therein provided, certain losses on the Mortgage Loans
resulting from defaults by Mortgagors will be borne by the
Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the
Holders of the other Classes of the Certificates.
This Certificate does not purport to summarize the
Agreement and reference is made to the Agreement for the
interests, rights and limitations of rights, benefits,
obligations and duties evidenced hereby, and the rights, duties
and immunities of the Trustee.
The Agreement permits, with certain exceptions therein
provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the
Certificateholders under the Agreement at any time by the Company
and the Trustee with the consent of the Holders of Certificates
<PAGE>
evidencing not less than 66% of all the Voting Rights as defined
in the Agreement. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and
upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange
herefor or in lieu hereof whether or not notation of such consent
is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the
consent of the Holders of any of the Certificates.
No transfer of any Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate which is in the form of a
Definitive Certificate shall be made to any Person unless the
Trustee has received (i) a certificate from such transferee to
the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Internal Revenue Code of 1986, as amended ("Section 4975") (a
"Plan") or a Person that is using the assets of a Plan to acquire
such Certificate or (y) is an insurance company investing assets
of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Class
Exemption 95-60, 60 Fed. Reg. 35925 (July 12, 1995) (the
"Exemption") applies to such transferee's acquisition and holding
of such Certificate, or (ii) an opinion of counsel satisfactory
to the Trustee, which opinion shall not be an expense of the
Trustee or the Company, to the effect that the purchase and
holding of such Certificate will not constitute or result in the
assets of the Trust Fund being deemed to be "plan assets" and
subject to the prohibited transaction provisions of ERISA or
Section 4975 and will not subject the Trustee or the Company to
any obligation in addition to those undertaken in the Agreement;
provided, however, that the Trustee will not require such
certificate or opinion in the event that, as a result of a change
of law or otherwise, counsel satisfactory to the Trustee has
rendered an opinion to the effect that the purchase and holding
of a Class M, Class B1, Class B2, Class B3, Class B4 or Class B5
Certificate by a Plan or a Person that is purchasing or holding
such Certificate with the assets of a Plan will not constitute or
result in a prohibited transaction under ERISA or Section 4975.
No transfer of any Class R Certificate shall be made
to any Person unless the Trustee has received a certificate from
such
<PAGE>
transferee to the effect that, among other things, such transferee
(x) is not an employee benefit plan subject to ERISA or a Plan or
a Person that is using the assets of a Plan to acquire any such
Class R Certificate or (y) is an insurance company investing
assets of its general account and the Exemption applies to such
transferee's acquisition and holding of any such Class R
Certificate.
As provided in the Agreement, and subject to certain
limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register of the Trustee upon
surrender of this Certificate for registration of transfer at the
office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the
City of New York, accompanied by a written instrument of transfer
in form satisfactory to the Company, the Trustee, and the
Certificate Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and thereupon one
or more new Certificates of the same Class of authorized
denominations evidencing the same aggregate Percentage Interest
will be issued to the designated transferee or transferees.
The Certificates are issuable only as registered
Certificates without coupons in denominations specified in the
Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Certificates are exchangeable for
new Certificates of the same Class of authorized denominations
evidencing the same aggregate Percentage Interest as requested by
the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may require
payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any
agent of the Trustee or the Certificate Registrar may treat the
Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate
Registrar nor any such agent shall be affected by any notice to
the contrary.
<PAGE>
The obligations and responsibilities created by the
Agreement, and the Trust Fund created thereby shall terminate
upon payment to the Certificateholders, or provision therefor, in
accordance with the Agreement following the earlier of (a) the
repurchase by the Company of all Mortgage Loans and all property
acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than a Mortgage
Loan described in clause (y)) plus accrued and unpaid interest
thereon at the rate provided for in the Agreement (less any
amounts representing previously unreimbursed Monthly Advances)
and (y) the appraised value of any property acquired in respect
of a Mortgage Loan determined as provided in the Agreement, and
(b) the later of the final payment or other liquidation (or any
Monthly Advance with respect thereto) of the last Mortgage Loan
remaining in the Trust Fund and the disposition of all property
acquired upon foreclosure or by deed in lieu of foreclosure of
any Mortgage Loan. The right of the Company to repurchase all the
Mortgage Loans and property in respect of Mortgage Loans is
subject to the Pool Scheduled Principal Balance at the time of
repurchase being less than 10 percent of the Pool Scheduled
Principal Balance as of the Cut-off Date. The Company's exercise
of such right will result in early retirement of the
Certificates.
Unless this Certificate has been countersigned by the
Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any
purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:________________________
Name:
Title:
Countersigned:
By__________________________
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:____________________
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s),
assign(s) and transfer(s) unto
Please insert social security
or other identifying number of assignee
_________________________________________________________________
_________________________________________________________________
(Please print or typewrite name and address
including postal zip code of assignee)
_________________________________________________________________
this Certificate evidencing a Percentage Interest in certain
distributions with respect to the Trust Fund and hereby
authorizes the transfer of registration of such interest to
assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to
issue a new Certificate of like Class and Percentage Interest, to
the above named assignee and deliver such Certificate to the
following address:
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
Dated:
_________________________
_____________________________________
Signature by or on behalf of assignor
______________________________
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust
company or broker of the signatory who is a member of a
signature guarantee medallion program.
<PAGE>
PRINCIPAL WILL NOT BE DISTRIBUTABLE IN RESPECT OF THIS
CERTIFICATE. INTEREST IS CALCULATED ON THIS CERTIFICATE BASED ON
THE CLASS S NOTIONAL PRINCIPAL BALANCE, WHICH, AS OF ANY
DISTRIBUTION DATE, IS EQUAL TO THE POOL SCHEDULED PRINCIPAL
BALANCE AS SET FORTH IN THE AGREEMENT (AS DEFINED HEREIN).
CONSEQUENTLY, THE NOTIONAL PRINCIPAL BALANCE OF THIS CERTIFICATE
AT ANY TIME MAY BE LESS THAN THE INITIAL NOTIONAL PRINCIPAL
BALANCE OF THIS CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE
DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL
MORTGAGE SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
[THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE "ACT"). ANY RESALE OR TRANSFER OF
THIS CERTIFICATE WITHOUT REGISTRATION THEREOF UNDER THE ACT MAY
ONLY BE MADE IN A TRANSACTION EXEMPT FROM THE REGISTRATION
REQUIREMENTS OF THE ACT AND IN ACCORDANCE WITH SECTION 5.02 OF
THE AGREEMENT REFERRED TO HEREIN.]1
[THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR
THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES ("BLUE SKY
LAWS"), AND SUCH CERTIFICATE MAY NOT BE OFFERED, RESOLD, PLEDGED
OR OTHERWISE TRANSFERRED EXCEPT (A) TO A PERSON WHOM THE SELLER
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A UNDER THE SECURITIES ACT IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (B) PURSUANT TO AN
EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (C) TO AN INSTITUTIONAL
ACCREDITED INVESTOR AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7)
OF REGULATION D UNDER THE SECURITIES ACT, IN EACH CASE IN A
TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND IN ACCORDANCE WITH ANY APPLICABLE BLUE SKY
LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF THE
EXEMPTION PROVIDED BY RULE 144 FOR RESALES OF THIS CERTIFICATE.]2
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
- --------
1 To be included in Class S Certificate issued to the
Company.
2 To be included only in Class S Certificate issued
upon resale by the Company, unless such Certificate has
been registered under the Act.
<PAGE>
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
DISQUALIFIED ORGANIZATION, BOOK-ENTRY NOMINEE OR NON-PERMITTED
FOREIGN HOLDER, AS DEFINED IN THE AGREEMENT OR TO ANY EMPLOYEE
BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY
ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO SECTION
4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED ("SECTION
4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS OF A PLAN
TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED HEREIN. THE
TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN OTHER
RESTRICTIONS AS SET FORTH HEREIN.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1997-7
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class S Notional
Principal Balance:
Class S $336,919,958.00
Certificate Interest Initial Notional Principal
Rate per annum: variable Balance of this Certificate:
$
Cut-off Date:
July 1, 1997
First Distribution Date:
August 25, 1997
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Notional
Principal Balance of this Certificate by the aggregate initial
Notional Principal Balance of all Class S Certificates, both as
specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of July 1, 1997 (the "Agreement") between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in August 1997, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
<PAGE>
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1997-7, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class M, Class B1, Class B2, Class B3, Class B4, Class B5, Class
PO and Class S, herein called the "Certificates").
The Certificates are limited in right of payment to
certain payments on and collections in respect of the Mortgage
Loans, all as more specifically set forth in the Agreement. The
Certificateholder, by its acceptance of this Certificate, agrees
that it will look solely to the funds on deposit in the
Certificate Account for payment hereunder and that the Trustee in
its individual capacity is not personally liable to the
Certificateholders for any amount payable under this Certificate
or the Agreement or, except as expressly provided in the
Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain
exceptions therein provided, certain losses on the Mortgage Loans
resulting from defaults by Mortgagors will be borne by the
Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the
Holders of the other Classes of the Certificates.
This Certificate does not purport to summarize the
Agreement and reference is made to the Agreement for the
interests, rights and limitations of rights, benefits,
obligations and duties evidenced hereby, and the rights, duties
and immunities of the Trustee.
The Agreement permits, with certain exceptions therein
provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the
Certificateholders under the Agreement at any time by the Company
and the Trustee with the consent of the Holders of Certificates
evidencing not less than 66% of all the Voting Rights as defined
in the Agreement. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and
upon all future Holders of this Certificate and of any
<PAGE>
Certificate issued upon the transfer hereof or in exchange
herefor or in lieu hereof whether or not notation of such consent
is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the
consent of the Holders of any of the Certificates.
No transfer of any Class S Certificate which is in the
form of a Definitive Certificate shall be made to any Person
unless the Trustee has received (i) a certificate from such
transferee to the effect that such transferee (x) is not an
employee benefit plan subject to the Employee Retirement Income
Security Act of 1974, as amended ("ERISA") or a plan subject to
Section 4975 of the Internal Revenue Code of 1986, as amended
("Section 4975") (a "Plan") or a Person that is using the assets
of a Plan to acquire such Certificate or (y) is an insurance
company investing assets of its general account and the exemption
provided by Section III(a) of Department of Labor Prohibited
Transaction Exemption 95-60, 60 Fed. Reg. 35925 (July 12, 1995)
(the "Exemption") applies to such transferee's acquisition and
holding of such Certificate, or (ii) an opinion of counsel
satisfactory to the Trustee, which opinion shall not be an
expense of the Trustee or the Company, to the effect that the
purchase and holding of such Certificate will not constitute or
result in the assets of the Trust Fund being deemed to be "plan
assets" and subject to the prohibited transaction provisions of
ERISA or Section 4975 and will not subject the Trustee or the
Company to any obligation in addition to those undertaken in the
Agreement; provided, however, that the Trustee will not require
such certificate or opinion in the event that, as a result of a
change of law or otherwise, counsel satisfactory to the Trustee
has rendered an opinion to the effect that the purchase and
holding of a Class S Certificate by a Plan or a Person that is
purchasing or holding such Certificate with the assets of a Plan
will not constitute or result in a prohibited transaction under
ERISA or Section 4975.
As provided in the Agreement, and subject to certain
limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register of the Trustee upon
surrender of this Certificate for registration of transfer at the
office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the
City of New York, accompanied by a written instrument of transfer
in form satisfactory to the Company, the Trustee, and the
Certificate Registrar duly executed by the Holder hereof or such
<PAGE>
Holder's attorney duly authorized in writing, and thereupon one
or more new Certificates of the same Class of authorized
denominations evidencing the same aggregate Percentage Interest
will be issued to the designated transferee or transferees. The
Certificates are issuable only as registered Certificates without
coupons in denominations specified in the Agreement. As provided
in the Agreement and subject to certain limitations therein set
forth, Certificates are exchangeable for new Certificates of the
same Class of authorized denominations evidencing the same
aggregate Percentage Interest as requested by the Holder
surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may require
payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any
agent of the Trustee or the Certificate Registrar may treat the
Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate
Registrar nor any such agent shall be affected by any notice to
the contrary.
The obligations and responsibilities created by the
Agreement, and the Trust Fund created thereby shall terminate
upon payment to the Certificateholders, or provision therefor, in
accordance with the Agreement following the earlier of (a) the
repurchase by the Company of all Mortgage Loans and all property
acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than a Mortgage
Loan described in clause (y)) plus accrued and unpaid interest
thereon at the rate provided for in the Agreement (less any
amounts representing previously unreimbursed Monthly Advances)
and (y) the appraised value of any property acquired in respect
of a Mortgage Loan determined as provided in the Agreement, and
(b) the later of the final payment or other liquidation (or any
Monthly Advance with respect thereto) of the last Mortgage Loan
remaining in the Trust Fund and the disposition of all property
acquired upon foreclosure or by deed in lieu of foreclosure of
any Mortgage Loan. The right of the Company to repurchase all the
Mortgage Loans and property in respect of Mortgage Loans is
subject to the Pool Scheduled Principal Balance at the time of
repurchase being less than 10 percent of the Pool Scheduled
<PAGE>
Principal Balance as of the Cut-off Date. The Company's exercise
of such right will result in early retirement of the
Certificates.
Unless this Certificate has been countersigned by the
Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any
purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL) By:___________________________
Name:
Title:
Countersigned:
By______________________
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:_________________
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s),
assign(s) and transfer(s) unto
Please insert social security
or other identifying number of assignee
_________________________________________________________________
_________________________________________________________________
(Please print or typewrite name and address
including postal zip code of assignee)
_________________________________________________________________
this Certificate evidencing a Percentage Interest in certain
distributions with respect to the Trust Fund and hereby
authorizes the transfer of registration of such interest to
assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to
issue a new Certificate of like Class and Percentage Interest, to
the above named assignee and deliver such Certificate to the
following address:
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
Dated:
_________________________
_____________________________________
Signature by or on behalf of assignor
______________________________
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust
company or broker of the signatory who is a member of a
signature guarantee medallion program.
<PAGE>
[In connection with any transfer of this Certificate,
the undersigned registered holder hereof confirms that without
utilizing any general solicitation or general advertising:
(Check One) -
|_| (a) This Certificate is being transferred by the
undersigned to a person whom the undersigned
reasonably believes is a "qualified
institutional buyer" (as defined in Rule 144A
under the Securities Act of 1933, as amended)
pursuant to the exemption from registration
under the Securities Act of 1933, as amended,
provided by Rule 144A thereunder.
|_| (b) This Certificate is being transferred by the
undersigned to an institutional "accredited
investor" (as defined in Rule 501(a)(1), (2),
(3) or (7) of Regulation D under the
Securities Act of 1933, as amended) and that
the undersigned has been advised by the
prospective purchaser that it intends to hold
this Certificate for investment and not for
distribution or resale.
Dated______________________ _________________________________
(Signature)
If none of the foregoing boxes is checked, the Trustee shall not
be obligated to register this Certificate in the name of any
person other than the registered holder thereof unless and until
the conditions to any such transfer of registration set forth
herein, and in the Pooling and Servicing Agreement have been
satisfied.
TO BE COMPLETED BY PURCHASER IF (a) ABOVE IS CHECKED:
The undersigned represents and warrants that (i) it is
a "qualified institutional buyer" (as defined in Rule 144A under
the
<PAGE>
Securities Act of 1933, as amended) and acknowledges that it has
received such information as the undersigned has requested
pursuant to Rule 144A or has determined not to request such
information and that it is aware that the registered holder is
relying upon the undersigned's foregoing representations in order
to claim the exemption from registration provided by Rule 144A,
and (ii) the undersigned (x) is not an employee benefit plan
subject to the Employee Retirement Income Security Act of 1974,
as amended, or a plan subject to Section 4975 of the Internal
Revenue Code of 1986, as amended, and is not using the assets of
any such employee benefit or other plan to acquire this
Certificate or (y) is an insurance company investing assets of
its general account and the exemptions provided by Section III(a)
of Department of Labor Prohibited Transaction Exemption 95-60, 60
Fed. Reg. 35925 (July 12, 1995), apply to the acquisition and
holding by the undersigned of this Certificate.
Dated______________________ _________________________________
(Signature)
<PAGE>
TO BE COMPLETED BY PURCHASER IF (b) ABOVE IS CHECKED:
The undersigned represents and warrants that (i) it is
an institutional "accredited investor" (as defined in Rule
501(a)(1), (2), (3) or (7) of Regulation D under the Securities
Act of 1933, as amended), and (ii) the undersigned (x) is not an
employee benefit plan subject to the Employee Retirement Income
Security Act of 1974, as amended, or a plan subject to Section
4975 of the Internal Revenue Code of 1986, as amended, and is not
using the assets of any such employee benefit or other plan to
acquire this Certificate or (y) is an insurance company investing
assets of its general account and the exemptions provided by
Section III(a) of Department of Labor Prohibited Transaction
Exemption 95-60, 60 Fed. Reg. 35925 (July 12, 1995), apply to the
acquisition and holding by the undersigned of this Certificate.
Dated______________________ _________________________________
(Signature)]3
__________
3 To be included only in Class S Certificate issued upon
resale by the Company, unless such Certificate has been
registered under the Act.
<PAGE>
EXHIBIT B
PRINCIPAL BALANCE SCHEDULES
[Not Applicable]
<PAGE>
EXHIBIT C
MORTGAGE LOANS
[Each Mortgage Loan shall be identified by loan
number, address of the Mortgaged Property and name of the
Mortgagor. The following details shall be set forth as to each
Mortgage Loan: (i) the principal balance at the time of its
origination, (ii) the Scheduled Principal Balance as of the
Cut-off Date, (iii) the interest rate borne by the Mortgage Note,
(iv) the scheduled monthly level payment of principal and
interest, (v) the loan-to-value ratio, (vi) the maturity date of
the Mortgage Note and (vii) the Servicing Fee Rate for such
Mortgage Loan.]
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 1
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0004886503 MORTGAGORS: POLLACK CARY
POLLACK GRACIELLA
REGION CODE ADDRESS : 72 YALE STREET
01 CITY : NORTH HEMPSTEAD
STATE/ZIP : NY 11577
MORTGAGE AMOUNT : 248,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 219,675.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,089.53 OUTSIDE CONV DATE :
LIFETIME RATE : 9.50000 MATURITY DATE : 12/01/21
CURRENT INT RATE: 9.50000 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0006620439 MORTGAGORS: LOMBARDI STEPHEN
REGION CODE ADDRESS : 15 MARLIN AVENUE
01 CITY : MILL VALLEY
STATE/ZIP : CA 94941
MORTGAGE AMOUNT : 460,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 440,723.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,021.87 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 11/01/23
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 76.66666
----------------------------------------------------------------
0 0007194947 MORTGAGORS: GRAY DAVID
GRAY JENNIFER
REGION CODE ADDRESS : 1341 CONEJO WAY
01 CITY : WALNUT CREEK
STATE/ZIP : CA 94596
MORTGAGE AMOUNT : 245,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,762.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,783.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/25
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 94.99800
----------------------------------------------------------------
0 0007364334 MORTGAGORS: WILSON MARK
WILSON NICOLE
REGION CODE ADDRESS : 951 S. CREEKVIEW LANE
01 CITY : ANAHEIM
STATE/ZIP : CA 92808
MORTGAGE AMOUNT : 258,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,636.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,942.78 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 02/01/26
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 94.99700
----------------------------------------------------------------
0 0007518616 MORTGAGORS: WOLSLAGER GERARD
DEBNY CAROL
REGION CODE ADDRESS : N9519 NORTH SHORE
01 CITY : BEAVER DAM
STATE/ZIP : WI 53096
MORTGAGE AMOUNT : 62,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 62,648.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 467.04 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 01/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 89.98500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,275,950.00
P & I AMT: 9,304.53
UPB AMT: 1,220,446.76
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 2
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007538622 MORTGAGORS: JACKSON DOUGLAS
JACKSON TAMARA
REGION CODE ADDRESS : 103 WEST NORTH STREET
00 CITY : ARCANUM
STATE/ZIP : OH 45304
MORTGAGE AMOUNT : 62,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 62,520.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 474.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 03/01/22
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 70.96045
----------------------------------------------------------------
0 0007550171 MORTGAGORS: ANDERSON GLENN
ANDERSON JOAN
REGION CODE ADDRESS : 18 LAMPTON ROAD
00 CITY : CHARLESTON
STATE/ZIP : SC 29407
MORTGAGE AMOUNT : 122,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 122,243.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 919.56 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007563729 MORTGAGORS: MCGRATH CHARLES
MCGRATH CAROL
REGION CODE ADDRESS : 57 WILLOW DRIVE
00 CITY : GRETNA
STATE/ZIP : LA 70053
MORTGAGE AMOUNT : 95,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 94,872.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 697.08 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 73.64340
----------------------------------------------------------------
0 0007571136 MORTGAGORS: JOHNSON KATHLEEN
REGION CODE ADDRESS : 1593 GALLERY AVENUE
00 CITY : VIRGINIA BEACH
STATE/ZIP : VA 23454
MORTGAGE AMOUNT : 68,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 68,256.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 513.12 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 83.29200
----------------------------------------------------------------
0 0007573496 MORTGAGORS: BROWN MICHAEL
BROWN DENISE
REGION CODE ADDRESS : 214 SOUTH DUNTON AVENUE
00 CITY : ARLINGTON HEIGHTS
STATE/ZIP : IL 60005
MORTGAGE AMOUNT : 215,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 215,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,577.60 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.04400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 563,500.00
P & I AMT: 4,181.71
UPB AMT: 562,892.71
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 3
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007574965 MORTGAGORS: GOODWIN RICHARD
GOODWIN HEIDI
REGION CODE ADDRESS : 14 OAK STREET
00 CITY : GARNERVILLE
STATE/ZIP : NY 10923
MORTGAGE AMOUNT : 124,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 124,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 888.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 72.94100
----------------------------------------------------------------
0 0007577141 MORTGAGORS: CURREY EDWIN
ROSSON-CURREY ELISE
REGION CODE ADDRESS : 4294 BIG RANCH ROAD
00 CITY : NAPA
STATE/ZIP : CA 94558
MORTGAGE AMOUNT : 468,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 468,650.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,993.21 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/17
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 58.58100
----------------------------------------------------------------
0 0007577703 MORTGAGORS: HELLWIG JAMES
HELLWIG RITA
REGION CODE ADDRESS : 1333 PURSELL AVE
00 CITY : DAYTON
STATE/ZIP : OH 45420
MORTGAGE AMOUNT : 58,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 58,365.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 454.23 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007580368 MORTGAGORS: BUDICA ROBERT
BUDICA FERESHTEH
REGION CODE ADDRESS : 1349 WRIGHTSTOWN ROAD
00 CITY : NEWTOWN -WRIGHTSTOWN TOWN
STATE/ZIP : PA 18940
MORTGAGE AMOUNT : 530,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 530,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,985.47 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 73.17200
----------------------------------------------------------------
0 0007582067 MORTGAGORS: KUHN STEVEN
KUHN MARYELLEN
REGION CODE ADDRESS : 112 ORCHARD DRIVE
00 CITY : OCEANPORT
STATE/ZIP : NJ 07757
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 380,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,821.49 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 78.35000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,561,550.00
P & I AMT: 12,142.76
UPB AMT: 1,561,515.52
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 4
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007582216 MORTGAGORS: HARMAN ANDREW
HARMAN THERESA
REGION CODE ADDRESS : 85 BOBOLINK LANE
00 CITY : LEVITTOWN
STATE/ZIP : NY 11756
MORTGAGE AMOUNT : 108,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 108,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 783.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 69.67742
----------------------------------------------------------------
0 0007582810 MORTGAGORS: MULLEN JAMES
MULLEN VERONICA
REGION CODE ADDRESS : 63 ASHBROOK PLACE
00 CITY : CITY OF MORAGA
STATE/ZIP : CA 94556
MORTGAGE AMOUNT : 407,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 407,700.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,885.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 76.49100
----------------------------------------------------------------
0 0007583503 MORTGAGORS: TAVENNER MARION
REGION CODE ADDRESS : 14284 MULBERRY DRIVE
00 CITY : LOS GATOS
STATE/ZIP : CA 95030
MORTGAGE AMOUNT : 230,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 230,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,730.92 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 74.32200
----------------------------------------------------------------
0 0007584451 MORTGAGORS: DELONG GARRETT
DELONG PATRICIA
REGION CODE ADDRESS : 9312 MONTICELLO DRIVE
00 CITY : GRANBURY
STATE/ZIP : TX 76049
MORTGAGE AMOUNT : 85,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 85,842.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 630.31 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 65.61208
----------------------------------------------------------------
0 0007584493 MORTGAGORS: POLUDNIAK STEPHEN
POLUDNIAK MONICA
REGION CODE ADDRESS : 6701 E SUNNYVALE ROAD
00 CITY : PARADISE VALLEY
STATE/ZIP : AZ 85253
MORTGAGE AMOUNT : 254,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,911.23 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,086,400.00
P & I AMT: 7,941.22
UPB AMT: 1,086,342.36
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 5
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007585201 MORTGAGORS: MANAHAN PAUL
MANAHAN DONNA
REGION CODE ADDRESS : 2472 EMERALD LANE
00 CITY : LINDENHURST
STATE/ZIP : IL 60046
MORTGAGE AMOUNT : 276,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 276,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,073.50 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007586233 MORTGAGORS: BRESCIA FRANK
LAMPARD MICHELLE
REGION CODE ADDRESS : 116 WELDON ROAD
00 CITY : TOWNSHIP OF MANCHESTER
STATE/ZIP : NJ 08733
MORTGAGE AMOUNT : 96,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 95,941.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 738.16 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007586597 MORTGAGORS: COUCH CRAIG
COOK CHARLES
REGION CODE ADDRESS : 12708 CEDAR STREET
00 CITY : AUSTIN
STATE/ZIP : TX 78732
MORTGAGE AMOUNT : 334,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 334,700.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,543.97 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 78.75200
----------------------------------------------------------------
0 0007586613 MORTGAGORS: WARE DOUGLAS
WARE ROBERTA
REGION CODE ADDRESS : 10301 ALLENDALE DRIVE
00 CITY : ARVADA
STATE/ZIP : CO 80004
MORTGAGE AMOUNT : 73,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 73,655.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 566.69 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 58.49206
----------------------------------------------------------------
0 0007586761 MORTGAGORS: HARPER JAMES
HARPER JANYCE
REGION CODE ADDRESS : 4648 JARVIS AVENUE
00 CITY : SAN JOSE
STATE/ZIP : CA 95118
MORTGAGE AMOUNT : 230,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 230,850.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,967.00 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/17
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 82.44600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,011,250.00
P & I AMT: 7,889.32
UPB AMT: 1,011,147.19
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 6
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007588619 MORTGAGORS: NASTASI RICHARD
NASTASI MARY
REGION CODE ADDRESS : 24 TIMBER RIDGE DRIVE
00 CITY : COMMACK
STATE/ZIP : NY 11725
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,819.12 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 72.05800
----------------------------------------------------------------
0 0007588759 MORTGAGORS: MORTON ROBERT
REGION CODE ADDRESS : 981 MILLER AVENUE
00 CITY : BERKELEY
STATE/ZIP : CA 94708
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,834.42 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 56.17900
----------------------------------------------------------------
0 0007589153 MORTGAGORS: DISANTO PETER
DISANTO AMY
REGION CODE ADDRESS : 23 CENTRE STREET
00 CITY : DOVER
STATE/ZIP : MA 02030
MORTGAGE AMOUNT : 200,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 200,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,485.00 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 57.97100
----------------------------------------------------------------
0 0007596018 MORTGAGORS: BECKER JOSEPH
REGION CODE ADDRESS : 200 THOMAS LANE
00 CITY : PETALUMA
STATE/ZIP : CA 94952
MORTGAGE AMOUNT : 205,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 205,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,522.12 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 60.83000
----------------------------------------------------------------
0 0007596463 MORTGAGORS: BRECHT DAVID
BRECHT TERRI
REGION CODE ADDRESS : 2019 WEATHERBY LANE
00 CITY : FRESNO
STATE/ZIP : TX 77545
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,019.60 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,172,000.00
P & I AMT: 8,680.26
UPB AMT: 1,172,000.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 7
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007596646 MORTGAGORS: SCHOENBACHLER ROBERT
SCHOENBACHLER DENISE
REGION CODE ADDRESS : 6728 134TH COURT NE
00 CITY : CITY OF REDMOND
STATE/ZIP : WA 98052
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 500,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,668.83 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 78.74000
----------------------------------------------------------------
0 0007598675 MORTGAGORS: MURPHY KEVIN
MURPHY TONYA
REGION CODE ADDRESS : 405 62ND STREET
00 CITY : NEWPORT BEACH
STATE/ZIP : CA 92663
MORTGAGE AMOUNT : 221,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 221,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,567.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.98500
----------------------------------------------------------------
0 0007599251 MORTGAGORS: YOUNG JILL
REGION CODE ADDRESS : 4610 VIA CABEZA
00 CITY : CITY OF YORBA LINDA
STATE/ZIP : CA 92686
MORTGAGE AMOUNT : 224,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 224,100.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,663.94 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007599350 MORTGAGORS: CHRISTIAN CRAIG
CHRISTIAN RENEE
REGION CODE ADDRESS : 3379 W 3600 SOUTH
00 CITY : WEST HAVEN
STATE/ZIP : UT 84315
MORTGAGE AMOUNT : 84,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 84,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 632.57 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 70.16600
----------------------------------------------------------------
0 0007600299 MORTGAGORS: WARNER STEPHEN
WARNER KAREN
REGION CODE ADDRESS : 25985 CAMINO LARGO
00 CITY : MISSION VIEJO
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 220,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 220,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,658.80 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 76.13793
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,250,500.00
P & I AMT: 9,191.20
UPB AMT: 1,250,500.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 8
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007602055 MORTGAGORS: SCHERMERHORN JR RICHARD
SCHERMERHORN BETH
REGION CODE ADDRESS : 9 MASTERS COMMON NORTH
01 CITY : QUEENSBURY
STATE/ZIP : NY 12804
MORTGAGE AMOUNT : 264,022.68 OPTION TO CONVERT :
UNPAID BALANCE : 262,837.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,091.69 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 09/01/24
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 68.57730
----------------------------------------------------------------
0 0007602063 MORTGAGORS: ZINK MICHAEL
ZINK EILEEN
REGION CODE ADDRESS : 10 WAYCROSS ROAD
01 CITY : FAIRPORT
STATE/ZIP : NY 14450
MORTGAGE AMOUNT : 203,816.17 OPTION TO CONVERT :
UNPAID BALANCE : 202,939.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,637.76 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 04/01/23
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 81.52646
----------------------------------------------------------------
0 0007602071 MORTGAGORS: LEONARD JOHN
REGION CODE ADDRESS : 32 MEADOW COURT
01 CITY : BRIDGEHAMPTON
STATE/ZIP : NY 11932
MORTGAGE AMOUNT : 256,696.33 OPTION TO CONVERT :
UNPAID BALANCE : 256,070.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,998.56 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/24
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 73.34100
----------------------------------------------------------------
0 0007602089 MORTGAGORS: BAJOREK EDWARD
REGION CODE ADDRESS : 2510 REBA DRIVE
01 CITY : HOUSTON
STATE/ZIP : TX 77019
MORTGAGE AMOUNT : 280,783.70 OPTION TO CONVERT :
UNPAID BALANCE : 274,779.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,297.97 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 10/01/21
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 64.54700
----------------------------------------------------------------
0 0007602097 MORTGAGORS: ROBINSON DENNIS
ROBINSON JANET
REGION CODE ADDRESS : 14 GRIZZLY
01 CITY : EDGEWOOD
STATE/ZIP : NM 87015
MORTGAGE AMOUNT : 135,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 135,701.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,045.34 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 73.11100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,141,268.88
P & I AMT: 9,071.32
UPB AMT: 1,132,328.35
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 9
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007602105 MORTGAGORS: COLEMAN GEORGE
COLEMAN MARLA
REGION CODE ADDRESS : 0197 ALPEN ROSE PL 8701
01 CITY : KEYSTONE
STATE/ZIP : CO 80435
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,552.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,629.44 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 77.77700
----------------------------------------------------------------
0 0007602113 MORTGAGORS: CARUTHERS JOHN
CARUTHERS FLORA
REGION CODE ADDRESS : 0106 SPRING BEAUTY
01 CITY : SILVERTHORNE
STATE/ZIP : CO 80498
MORTGAGE AMOUNT : 250,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,095.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,925.36 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007602121 MORTGAGORS: ZIMMERMAN MARCIA
PAYNE KEITH
REGION CODE ADDRESS : 790 GOTHIC RD.
01 CITY : MT CRESTED BUTTE
STATE/ZIP : CO 81225
MORTGAGE AMOUNT : 386,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 385,802.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,973.78 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 03/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 77.35000
----------------------------------------------------------------
0 0007602139 MORTGAGORS: RIDDLE JOHNSON ANITA
JOHNSON JOHNNIE
REGION CODE ADDRESS : 2642 WHITE OAK DRIVE
01 CITY : ANN ARBOR
STATE/ZIP : MI 48103
MORTGAGE AMOUNT : 319,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 318,090.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,285.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 03/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.98295
----------------------------------------------------------------
0 0007602147 MORTGAGORS: WASHINGTON KEITH
WASHINGTON CHERYL
REGION CODE ADDRESS : 9830 HINDEL COURT
01 CITY : BOYNTON BEACH
STATE/ZIP : FL 33437
MORTGAGE AMOUNT : 130,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 129,841.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 999.59 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 56.03400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,436,150.00
P & I AMT: 10,813.53
UPB AMT: 1,433,382.98
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 10
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007602154 MORTGAGORS: STEKLENSKI EDWARD
STEKLENSKI PAMELA
REGION CODE ADDRESS : 7330 EAST REDBIRD ROAD
01 CITY : SCOTTSDALE
STATE/ZIP : AZ 85255
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,113.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,158.61 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 79.94800
----------------------------------------------------------------
0 0007602162 MORTGAGORS: HOFFMAN PAUL
HOFFMAN SHARON
REGION CODE ADDRESS : 1961 WEST HEMLOCK WAY
01 CITY : CHANDLER
STATE/ZIP : AZ 85248
MORTGAGE AMOUNT : 345,215.00 OPTION TO CONVERT :
UNPAID BALANCE : 344,599.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,685.05 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 79.99900
----------------------------------------------------------------
0 0007602188 MORTGAGORS: FERRIS GLENN
REGION CODE ADDRESS : 2909 W 100TH AVENUE
01 CITY : ANCHORAGE
STATE/ZIP : AK 99515
MORTGAGE AMOUNT : 463,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 462,641.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,439.62 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 85.00000
----------------------------------------------------------------
0 0007602196 MORTGAGORS: MEHNER WILLIAM
MEHNER BONNIE
REGION CODE ADDRESS : 2923 MCCOLLIE AVENUE
01 CITY : ANCHORAGE
STATE/ZIP : AK 99517
MORTGAGE AMOUNT : 572,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 570,861.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,297.25 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 76.77800
----------------------------------------------------------------
0 0007602204 MORTGAGORS: PETERSON BRIAN
REGION CODE ADDRESS : NHN AGOSTINO MINE ROAD
01 CITY : GIRDWOOD
STATE/ZIP : AK 99587
MORTGAGE AMOUNT : 84,316.00 OPTION TO CONVERT :
UNPAID BALANCE : 58,626.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 648.32 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 74.99900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,748,781.00
P & I AMT: 13,228.85
UPB AMT: 1,719,842.16
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 11
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007602212 MORTGAGORS: TORNEROS ERNESTO
TORNEROS GLORIA
REGION CODE ADDRESS : 2931 AGUA VISTA DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95132
MORTGAGE AMOUNT : 276,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,551.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,127.97 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 12/01/26
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007602220 MORTGAGORS: JOHNSON ROBERT
JOHNSON SHARON
REGION CODE ADDRESS : 6019 NORTHSTAR
01 CITY : GAYLORD
STATE/ZIP : MI 49735
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,606.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,227.50 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007602238 MORTGAGORS: RENNEBOHM RICK
REGION CODE ADDRESS : 1582 SCENIC HEIGHTS ROAD
01 CITY : OAK HARBOR
STATE/ZIP : WA 98277
MORTGAGE AMOUNT : 247,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,183.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,859.39 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007602246 MORTGAGORS: CLARK DAVID
CLARK CHERYL
REGION CODE ADDRESS : 127 HARTWELL AVENUE
01 CITY : LITTLETON
STATE/ZIP : MA 01460
MORTGAGE AMOUNT : 230,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 229,989.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,712.20 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007602253 MORTGAGORS: HOLDER JAMES
VANDENBERG CAROL
REGION CODE ADDRESS : 5210 CLIPPER COVE ROAD
01 CITY : MIDLOTHIAN
STATE/ZIP : VA 23112
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,569.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,262.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 74.28500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,366,850.00
P & I AMT: 10,189.28
UPB AMT: 1,363,899.57
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 12
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007602261 MORTGAGORS: PETRUCCI MICHAEL
PETRUCCI VICKI JO
REGION CODE ADDRESS : 10 CHERRY CIRCLE
01 CITY : GLEN MILLS
STATE/ZIP : PA 19342
MORTGAGE AMOUNT : 263,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,936.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,909.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 79.95700
----------------------------------------------------------------
0 0007602279 MORTGAGORS: GELLI SATISH
GELLI BHAVANA
REGION CODE ADDRESS : 54 VILLAGE ROAD
01 CITY : SOUTH BRUNSWICK
STATE/ZIP : NJ 08824
MORTGAGE AMOUNT : 224,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 223,668.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,683.59 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 75.12600
----------------------------------------------------------------
0 0007602287 MORTGAGORS: YALAMANCHI RAJESWARA
YALAMANCHI USHA
REGION CODE ADDRESS : 8 VILLAGE ROAD
01 CITY : SOUTH BRUNSWICK
STATE/ZIP : NJ 08824
MORTGAGE AMOUNT : 249,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,869.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,873.29 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 79.41000
----------------------------------------------------------------
0 0007602295 MORTGAGORS: GUTHRIE PAUL
REGION CODE ADDRESS : 1097 HOWARD STREET,#306
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94103
MORTGAGE AMOUNT : 274,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,472.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,058.48 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007602303 MORTGAGORS: OUTLAND GENE
OUTLAND GLORIA
REGION CODE ADDRESS : 774 TYNER WAY
01 CITY : INCLINE VILLAGE
STATE/ZIP : NV 89451
MORTGAGE AMOUNT : 542,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 541,787.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,028.05 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,553,250.00
P & I AMT: 11,552.52
UPB AMT: 1,550,734.53
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 13
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007602329 MORTGAGORS: LANDIS CLETUS
LANDIS CAROL
REGION CODE ADDRESS : 6072 VERA CRUZ ROAD
01 CITY : EMMAUS
STATE/ZIP : PA 18049
MORTGAGE AMOUNT : 342,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 342,221.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,605.15 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007602337 MORTGAGORS: STAS MICHAEL
STAS SHARON
REGION CODE ADDRESS : 2 JACOBUS LANE
01 CITY : READINGTON
STATE/ZIP : NJ 08870
MORTGAGE AMOUNT : 217,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 216,390.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,649.36 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 42.30000
----------------------------------------------------------------
0 0007602352 MORTGAGORS: POPP HEINZ
POPP ADELE
REGION CODE ADDRESS : 137 137TH ST
01 CITY : BELLE HARBOR
STATE/ZIP : NY 11694
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,681.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,756.34 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 65.78947
----------------------------------------------------------------
0 0007602360 MORTGAGORS: SHAW H.
SHAW DONNA
REGION CODE ADDRESS : 1973 SEAVIEW AVE.
01 CITY : DEL MAR
STATE/ZIP : CA 92014
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,759.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,537.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 37.23400
----------------------------------------------------------------
0 0007602378 MORTGAGORS: MAXWELL JOHN
MAXWELL BEATRICE
REGION CODE ADDRESS : 1506 BRANCH OWL PLACE
01 CITY : SANTA ROSA
STATE/ZIP : CA 95409
MORTGAGE AMOUNT : 259,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,249.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,904.86 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.98600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,669,350.00
P & I AMT: 12,453.46
UPB AMT: 1,667,301.85
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 14
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007602386 MORTGAGORS: BALIAN SARONNE
REGION CODE ADDRESS : 349 SQUIRREL RIDGE WAY
01 CITY : DANVILLE
STATE/ZIP : CA 94506
MORTGAGE AMOUNT : 307,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,306.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,311.65 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 84.81800
----------------------------------------------------------------
0 0007602394 MORTGAGORS: DONOHUE JEANINE
DONOHUE VINCENT
REGION CODE ADDRESS : 2240 GREEN STREET, #1
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94123
MORTGAGE AMOUNT : 262,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,940.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,880.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007602402 MORTGAGORS: MEEHLEIS RICK
MEEHLEIS MICHELLE
REGION CODE ADDRESS : 6113 NORMANDY COURT
01 CITY : FT. COLLINS
STATE/ZIP : CO 80525
MORTGAGE AMOUNT : 328,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,867.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,467.92 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007602410 MORTGAGORS: GAULDEN ELMA
REGION CODE ADDRESS : 1117 REMMINGTON TRACE
01 CITY : ANTIOCH
STATE/ZIP : TN 37013
MORTGAGE AMOUNT : 126,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 126,075.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 915.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 94.96000
----------------------------------------------------------------
0 0007602428 MORTGAGORS: VELIKANOV IGOR
VELIKANOV GALINA
REGION CODE ADDRESS : 930 N LA JOLLA AVENUE
01 CITY : WEST HOLLYWOOD
STATE/ZIP : CA 90046
MORTGAGE AMOUNT : 231,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 231,157.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,762.99 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 65.70800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,256,900.00
P & I AMT: 9,338.56
UPB AMT: 1,254,346.84
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 15
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007602436 MORTGAGORS: AIELLO MARK
AIELLO CHRISTINE
REGION CODE ADDRESS : 912 OLD COUNTY ROAD
01 CITY : SEVERNA PARK
STATE/ZIP : MD 21146
MORTGAGE AMOUNT : 441,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 440,590.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,199.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 78.78571
----------------------------------------------------------------
0 0007602444 MORTGAGORS: MILLER GORDON
REGION CODE ADDRESS : 571 YOUNG AVE.
01 CITY : BATAVIA
STATE/ZIP : IL 60510
MORTGAGE AMOUNT : 224,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 223,365.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,682.84 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 77.77700
----------------------------------------------------------------
0 0007602451 MORTGAGORS: VAN WECHEL ERICK
VAN WECHEL CHERIE
REGION CODE ADDRESS : 1959 QUIET RANCH ROAD
01 CITY : FALLBROOK
STATE/ZIP : CA 92028
MORTGAGE AMOUNT : 246,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,630.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,826.55 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 84.53600
----------------------------------------------------------------
0 0007602469 MORTGAGORS: GERTSMAN KEVIN
GERTSMAN TERESA
REGION CODE ADDRESS : 6 COFFEEBERRY COURT
01 CITY : COTO DE CAZA
STATE/ZIP : CA 92679
MORTGAGE AMOUNT : 227,990.00 OPTION TO CONVERT :
UNPAID BALANCE : 227,705.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,732.89 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 94.99900
----------------------------------------------------------------
0 0007602477 MORTGAGORS: FELLBERG MICHAEL
FELLBERG DEBORAH
REGION CODE ADDRESS : 236 CHESTERFIELD AVENUE
01 CITY : BIRMINGHAM
STATE/ZIP : MI 48009
MORTGAGE AMOUNT : 241,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,282.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,793.88 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,380,790.00
P & I AMT: 10,235.17
UPB AMT: 1,378,575.22
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 16
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007602485 MORTGAGORS: CLAIR ELAINE
REGION CODE ADDRESS : 18978 GLENGARRY DRIVE
01 CITY : LIVONIA
STATE/ZIP : MI 48152
MORTGAGE AMOUNT : 221,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 221,330.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,667.07 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 79.98327
----------------------------------------------------------------
0 0007602493 MORTGAGORS: KAUN WALLACE
SLATE KAUN LUCKY
REGION CODE ADDRESS : 22777 SPYGLASS HILL
01 CITY : SOUTH LYON
STATE/ZIP : MI 48178
MORTGAGE AMOUNT : 248,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,464.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,825.61 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007602519 MORTGAGORS: COLEMAN MILTON
COLEMAN CYNTHIA
REGION CODE ADDRESS : 531 SAINT JOHN PLACE
01 CITY : INGLEWOOD
STATE/ZIP : CA 92060
MORTGAGE AMOUNT : 335,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 334,303.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,428.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 04/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 79.76190
----------------------------------------------------------------
0 0007602527 MORTGAGORS: DANSBY LINDA
REGION CODE ADDRESS : 1490 CROSSING WAY
01 CITY : AUBURN
STATE/ZIP : AL 36830
MORTGAGE AMOUNT : 254,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,503.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,151.12 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 04/01/17
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007602535 MORTGAGORS: PASCH THOMAS
PASCH MARCIA
REGION CODE ADDRESS : 1200 SEVEREN COURT
01 CITY : AMBLER
STATE/ZIP : PA 19002
MORTGAGE AMOUNT : 373,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 372,961.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,774.72 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 79.99100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,434,200.00
P & I AMT: 10,847.51
UPB AMT: 1,429,563.63
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 17
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007602543 MORTGAGORS: AVERA JOHN
AVERA MARY
REGION CODE ADDRESS : 2802 FOREST LODGE ROAD
01 CITY : PEBBLE BEACH
STATE/ZIP : CA 93953
MORTGAGE AMOUNT : 428,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 427,216.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,290.95 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007602550 MORTGAGORS: WRIGHT COURTNEY
WRIGHT LAURENCE
REGION CODE ADDRESS : 2707 HIGHLAND AVENUE
01 CITY : EVANSTON
STATE/ZIP : IL 60201
MORTGAGE AMOUNT : 424,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 423,162.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,148.19 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007602568 MORTGAGORS: GILBERT JAMES
GILBERT LAURINE
REGION CODE ADDRESS : 84 MENDHAM ROAD
01 CITY : BERNARDSVILLE
STATE/ZIP : NJ 07924
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,407.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,227.50 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007602576 MORTGAGORS: LEWIS DONALD
LEWIS SUSAN
REGION CODE ADDRESS : 5460 ALHAMBRA VALLEY ROAD
01 CITY : MARTINEZ
STATE/ZIP : CA 94553
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,275.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,435.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007602584 MORTGAGORS: MCALLISTER MARVIN
MCALLISTER PATRICIA
REGION CODE ADDRESS : 5508 LINCOLN ROAD
01 CITY : MARTINSVILLE
STATE/ZIP : IN 46151
MORTGAGE AMOUNT : 265,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,173.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,967.62 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 73.61100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,757,000.00
P & I AMT: 13,070.07
UPB AMT: 1,753,234.93
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 18
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007602592 MORTGAGORS: BAKER NEIL
BAKER LOUISE
REGION CODE ADDRESS : 12452 BAJA PANORAMA
01 CITY : SANTA ANA
STATE/ZIP : CA 92705
MORTGAGE AMOUNT : 266,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,041.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,954.75 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007602600 MORTGAGORS: WEISSING MATTHEW
WEISSING JANICE
REGION CODE ADDRESS : 2880 NE 32ND STREET
01 CITY : LIGHTHOUSE POINT
STATE/ZIP : FL 33064
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,290.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,568.18 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 78.65100
----------------------------------------------------------------
0 0007602618 MORTGAGORS: THOMPSON LAWRENCE
THOMPSON MARTHA
REGION CODE ADDRESS : 626 HWY 24,B626
01 CITY : MINTURN
STATE/ZIP : CO 81645
MORTGAGE AMOUNT : 223,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 222,906.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,657.26 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007602626 MORTGAGORS: VELAZQUEZ FERNANDO
VELAZQUEZ SARA
REGION CODE ADDRESS : 14871 ELIJO WAY
01 CITY : JAMUL
STATE/ZIP : CA 91935
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,335.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,235.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007602634 MORTGAGORS: CASTELLANOS LUIS
CASTELLANOS SHERRY
REGION CODE ADDRESS : 8260 NW 157 TERRACE
01 CITY : MIAMI
STATE/ZIP : FL 33016
MORTGAGE AMOUNT : 297,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,934.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,488.41 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 04/01/17
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.33300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,449,100.00
P & I AMT: 10,903.81
UPB AMT: 1,441,508.70
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 19
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007602642 MORTGAGORS: MARTIN WILLIAM
CONNELLY PATRICIA
REGION CODE ADDRESS : 11 RIVERVIEW STREET
01 CITY : ESSEX
STATE/ZIP : CT 06426
MORTGAGE AMOUNT : 332,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,541.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,407.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007602659 MORTGAGORS: TAYLOR BRETT
TAYLOR KAREN
REGION CODE ADDRESS : 701 HILLENKAMP DRIVE
01 CITY : SAINT CHARLES
STATE/ZIP : MO 63304
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,392.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,201.30 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 60.00000
----------------------------------------------------------------
0 0007602675 MORTGAGORS: DERUITER HENRY
DERUITER KATHLEEN
REGION CODE ADDRESS : 874 ALISAL ROAD
01 CITY : SOLVANG
STATE/ZIP : CA 93463
MORTGAGE AMOUNT : 380,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 379,916.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,859.70 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 69.20900
----------------------------------------------------------------
0 0007602683 MORTGAGORS: GEORGE ANNAMMA
GEORGE W G
REGION CODE ADDRESS : 5 ALMA ROAD
01 CITY : WALPOLE
STATE/ZIP : MA 02081
MORTGAGE AMOUNT : 274,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,675.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,131.15 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 94.97400
----------------------------------------------------------------
0 0007602691 MORTGAGORS: COHEN HOWARD
COHEN JENNIFER
REGION CODE ADDRESS : 1513 POWNAL DRIVE
01 CITY : YARDLEY
STATE/ZIP : PA 19067
MORTGAGE AMOUNT : 236,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,437.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,801.00 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 79.99500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,523,600.00
P & I AMT: 11,400.39
UPB AMT: 1,520,962.89
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 20
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007602709 MORTGAGORS: D'HEDOUVILLE PHILLIP
D'HEDOUVILLE MARY
REGION CODE ADDRESS : 210 E HAWS COURT
01 CITY : GALLOWAY
STATE/ZIP : NJ 08201
MORTGAGE AMOUNT : 230,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 230,126.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,792.03 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007602717 MORTGAGORS: DALTON JAMES
REGION CODE ADDRESS : 1039 SPROUL ROAD
01 CITY : BRYN MAWR
STATE/ZIP : PA 19010
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,464.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,333.37 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007602725 MORTGAGORS: REYNOLDS BRUCE
REYNOLDS MICHELLE
REGION CODE ADDRESS : 1753 CHARITY DRIVE
01 CITY : BRENTWOOD
STATE/ZIP : TN 37027
MORTGAGE AMOUNT : 424,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 422,818.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,189.13 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 76.48600
----------------------------------------------------------------
0 0007602733 MORTGAGORS: LARUS STEVEN
LARUS CORINNE
REGION CODE ADDRESS : 12712 LAKESTONE DRIVE
01 CITY : MIDLOTHIAN
STATE/ZIP : VA 23113
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 348,517.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,629.44 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0007602741 MORTGAGORS: RYAN ANDREW
PROMISEL-RYAN SHELLEY
REGION CODE ADDRESS : 230 SUNRIDGE STREET
01 CITY : LOS ANGELES
STATE/ZIP : CA 90293
MORTGAGE AMOUNT : 352,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 351,085.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,582.86 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,656,900.00
P & I AMT: 12,526.83
UPB AMT: 1,652,013.47
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 21
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007602758 MORTGAGORS: OSTROY BRUCE
OSTROY KIMBERLY
REGION CODE ADDRESS : 600 PATTEN AVE.
01 CITY : OCEANSIDE
STATE/ZIP : NY 11572
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,698.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,906.91 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007602766 MORTGAGORS: SAHNI MANMEET
SAHNI SANGEETA
REGION CODE ADDRESS : 11942 MALLOT PLACE
01 CITY : LOS ANGELES
STATE/ZIP : CA 91344
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,702.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,883.84 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 61.25000
----------------------------------------------------------------
0 0007602774 MORTGAGORS: HAITE MARY
REGION CODE ADDRESS : 66 AYRAULT ST
01 CITY : NEWPORT
STATE/ZIP : RI 02840
MORTGAGE AMOUNT : 278,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,292.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,352.89 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 04/01/17
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 79.62800
----------------------------------------------------------------
0 0007602782 MORTGAGORS: STOFFA MAUREEN
HEANEY JOSEPH
REGION CODE ADDRESS : 12911 KINGS ROW LANE
01 CITY : ST.LOUIS
STATE/ZIP : MO 63146
MORTGAGE AMOUNT : 220,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 220,132.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,694.69 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007602808 MORTGAGORS: SLOSBURG STANLEY
SLOSBURG ELEANOR
REGION CODE ADDRESS : 8 CREEKSIDE DRIVE
01 CITY : RANCHO MIRAGE
STATE/ZIP : CA 92270
MORTGAGE AMOUNT : 371,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 370,774.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,789.08 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,363,350.00
P & I AMT: 10,627.41
UPB AMT: 1,360,600.40
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 22
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007602816 MORTGAGORS: SHARPLESS SUSAN
SHARPLESS GERALD
REGION CODE ADDRESS : 4 CORNING COURT
01 CITY : DURHAM
STATE/ZIP : NC 27705
MORTGAGE AMOUNT : 236,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,139.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,755.64 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 94.99700
----------------------------------------------------------------
0 0007602832 MORTGAGORS: FLANAGAN PATRICK
FLANAGAN PAMELA
REGION CODE ADDRESS : 1276 WELLINGTON TERRACE
01 CITY : MAITLAND
STATE/ZIP : FL 32751
MORTGAGE AMOUNT : 229,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 229,220.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,764.66 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 69.65000
----------------------------------------------------------------
0 0007602840 MORTGAGORS: BAILEY KYLE
BAILEY DESIREE
REGION CODE ADDRESS : 6134 S LA CIENEGA BLVD.
01 CITY : LOS ANGELES
STATE/ZIP : CA 90056
MORTGAGE AMOUNT : 217,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 217,184.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,672.78 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007602857 MORTGAGORS: WIGGINS DONALD
WIGGINS KAREN
REGION CODE ADDRESS : 1328 STONEHAVEN DRIVE
01 CITY : WEST LINN
STATE/ZIP : OR 97068
MORTGAGE AMOUNT : 274,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,631.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,010.52 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.88300
----------------------------------------------------------------
0 0007602865 MORTGAGORS: FREDERICKSON JOHN
FREDERICKSON CAROL
REGION CODE ADDRESS : 1389 EMERAUDE GLEN
01 CITY : ESCONDIDO
STATE/ZIP : CA 92029
MORTGAGE AMOUNT : 314,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 313,997.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,361.99 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,271,900.00
P & I AMT: 9,565.59
UPB AMT: 1,270,174.02
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 23
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007602873 MORTGAGORS: MAGNESS JAY
MAGNESS DEBORAH
REGION CODE ADDRESS : 7 ROCKROSE COURT
01 CITY : COTO DE CAZA
STATE/ZIP : CA 92679
MORTGAGE AMOUNT : 231,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 231,503.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,741.44 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007602881 MORTGAGORS: CONNOLLY TOD
CONNOLLY LISA
REGION CODE ADDRESS : 43334 PONDVIEW DRIVE
01 CITY : STERLING HEIGHTS
STATE/ZIP : MI 48314
MORTGAGE AMOUNT : 224,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 223,734.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,742.25 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 78.59600
----------------------------------------------------------------
0 0007602899 MORTGAGORS: HARRISON JAMES
HARRISON SANDRA
REGION CODE ADDRESS : 1403 WEST AMANDA LANE
01 CITY : TEMPE
STATE/ZIP : AZ 85284
MORTGAGE AMOUNT : 202,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 202,253.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,557.05 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 72.97200
----------------------------------------------------------------
0 0007602907 MORTGAGORS: HARCOURT ERIC
HARCOURT AMY
REGION CODE ADDRESS : 889 PRESTONWOOD DRIVE
01 CITY : EDWARDSVILLE
STATE/ZIP : IL 62025
MORTGAGE AMOUNT : 225,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 225,332.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,754.70 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 94.98900
----------------------------------------------------------------
0 0007602915 MORTGAGORS: BREY STEPHEN
BREY JENNIFER
REGION CODE ADDRESS : 21705 OCEAN AVENUE
01 CITY : TORRANCE
STATE/ZIP : CA 90503
MORTGAGE AMOUNT : 258,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,085.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,986.88 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,142,300.00
P & I AMT: 8,782.32
UPB AMT: 1,140,910.13
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 24
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007602923 MORTGAGORS: DOZIER MICHAEL
DOZIER LEAH
REGION CODE ADDRESS : 5149 TRACE CROSSINGS DRIVE
01 CITY : BIRMINGHAM
STATE/ZIP : AL 35244
MORTGAGE AMOUNT : 286,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,851.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,200.64 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 89.98500
----------------------------------------------------------------
0 0007602931 MORTGAGORS: AGUILAR NEPHTALI
AGUILAR OLIVIA
REGION CODE ADDRESS : 1041 SUMMERSONG COURT
01 CITY : SAN JOSE
STATE/ZIP : CA 95132
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,749.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,761.04 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007602949 MORTGAGORS: ATHY ROBERT
ATHY PATRICIA
REGION CODE ADDRESS : 3406 WHITTIER STREET
01 CITY : SAN DIEGO
STATE/ZIP : CA 92106
MORTGAGE AMOUNT : 251,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,845.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,909.69 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007603673 MORTGAGORS: SHOLDER BRIAN
SHOLDER JANET
REGION CODE ADDRESS : 29191 HIDDEN VILLAGE DRIVE
00 CITY : EVERGREEN
STATE/ZIP : CO 80439
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 500,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,625.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 41.66600
----------------------------------------------------------------
0 0009940669 MORTGAGORS: MAYHUGH GILBERT
MAYHUGH TERESA
REGION CODE ADDRESS : 14122 FEATHER LANE
00 CITY : NOKESVILLE
STATE/ZIP : VA 22123
MORTGAGE AMOUNT : 188,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 179,729.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,426.59 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 11/01/22
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 89.00943
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,466,150.00
P & I AMT: 10,923.31
UPB AMT: 1,453,176.61
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 25
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030287627 MORTGAGORS: PASHA WILLIAM
PASHA DEBORAH
REGION CODE ADDRESS : 4300 WYNFIELD DRIVE
01 CITY : OWINGS MILL
STATE/ZIP : MD 21117
MORTGAGE AMOUNT : 246,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,729.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,048.60 OUTSIDE CONV DATE :
LIFETIME RATE : 9.37500 MATURITY DATE : 05/01/25
CURRENT INT RATE: 9.37500 PRODUCT CODE : 002
LTV : 94.99016
----------------------------------------------------------------
0 0030514533 MORTGAGORS: ROMAN DANIEL
ROMAN SHERI
REGION CODE ADDRESS : 5936 N STAFFORD ROAD
01 CITY : INDIANAPOLIS
STATE/ZIP : IN 46208
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,738.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,969.99 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030585517 MORTGAGORS: RAWLS REGINALD
REGION CODE ADDRESS : 29 SWEETBRIAR LANE
01 CITY : GLEN MILLS
STATE/ZIP : PA 19342
MORTGAGE AMOUNT : 480,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 479,669.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,480.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030601934 MORTGAGORS: PAUL CLIFFORD
PAUL DENISE
REGION CODE ADDRESS : 6125 E. ANDERSON DRIVE
01 CITY : PHOENIX
STATE/ZIP : AZ 85254
MORTGAGE AMOUNT : 364,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 363,496.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,737.62 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 88.36200
----------------------------------------------------------------
0 0030636831 MORTGAGORS: REISMAN JOEL
REISMAN ARLENE
REGION CODE ADDRESS : 7 CRAGMERE OVAL
01 CITY : NEW CITY
STATE/ZIP : NY 10956
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 328,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,522.04 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,818,700.00
P & I AMT: 13,758.59
UPB AMT: 1,813,633.65
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 26
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030637029 MORTGAGORS: TAGG JAY
TAGG SHALLON
REGION CODE ADDRESS : 17912 W INTERURBAN BLVD
01 CITY : SNOHOMISH
STATE/ZIP : WA 98290
MORTGAGE AMOUNT : 228,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 228,214.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,736.77 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 87.88400
----------------------------------------------------------------
0 0030638522 MORTGAGORS: SPRADLIN WILLIAM
SPRADLIN LINDA
REGION CODE ADDRESS : 15300 BLACKHAWK DRIVE
01 CITY : FT. MYERS
STATE/ZIP : FL 33912
MORTGAGE AMOUNT : 297,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,820.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,283.68 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 85.34400
----------------------------------------------------------------
0 0030639876 MORTGAGORS: FRYER DOUGLAS
FRYER KATHLEEN
REGION CODE ADDRESS : 1904 36TH AVENUE WEST
01 CITY : SEATTLE
STATE/ZIP : WA 98199
MORTGAGE AMOUNT : 364,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 361,368.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,766.67 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 10/01/26
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 63.85900
----------------------------------------------------------------
0 0030663652 MORTGAGORS: HERVAS MIGUEL
HERVAS IRMA
REGION CODE ADDRESS : 6365 N.W. 113TH COURT
01 CITY : MIAMI
STATE/ZIP : FL 33178
MORTGAGE AMOUNT : 296,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,801.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,173.41 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 89.78478
----------------------------------------------------------------
0 0030686505 MORTGAGORS: ARCHULETA JOSEPH
ARCHULETA PAMELA
REGION CODE ADDRESS : 25289 N. GOLD RIDGE DRIVE
01 CITY : CASTRO VALLEY
STATE/ZIP : CA 94552
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,551.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,356.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 65.39300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,510,700.00
P & I AMT: 11,317.01
UPB AMT: 1,506,755.97
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 27
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030690176 MORTGAGORS: SNYDER STEVEN
REGION CODE ADDRESS : 210 WENNER WAY
01 CITY : UPPER DUBLIN TOWNSHIP
STATE/ZIP : PA 19034
MORTGAGE AMOUNT : 256,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,136.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,837.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030692438 MORTGAGORS: WATERS WILLIAM
WATERS SHARON
REGION CODE ADDRESS : 15309 JOHNSTONE LANE
01 CITY : BOWIE
STATE/ZIP : MD 20721
MORTGAGE AMOUNT : 220,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 220,150.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,692.77 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 94.99200
----------------------------------------------------------------
0 0030699094 MORTGAGORS: GRANDAW PETER
GRANDAW MONIQUE
REGION CODE ADDRESS : 4303 MOUNTAIN GLENN COURT
01 CITY : REDDING
STATE/ZIP : CA 96001
MORTGAGE AMOUNT : 265,274.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,117.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,063.28 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 89.99900
----------------------------------------------------------------
0 0030720833 MORTGAGORS: DUCKWORTH SCOTT
DUCKWORTH SHEILA
REGION CODE ADDRESS : 4 EVERGREEN LANE
01 CITY : MONROE
STATE/ZIP : CT 06468
MORTGAGE AMOUNT : 264,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,899.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,943.01 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 02/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030743256 MORTGAGORS: GALLAGHER JAMES
GALLAGHER MARY
REGION CODE ADDRESS : 581 S HEILBRON DRIVE
01 CITY : MEDIA
STATE/ZIP : PA 19063
MORTGAGE AMOUNT : 415,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 415,114.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,011.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,422,124.00
P & I AMT: 10,548.60
UPB AMT: 1,420,417.96
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 28
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030744262 MORTGAGORS: MARSHALL ARLAN
REGION CODE ADDRESS : 33 DELANO PARK
01 CITY : CAPE ELIZABETH
STATE/ZIP : ME 04107
MORTGAGE AMOUNT : 425,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 423,727.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,305.61 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 02/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 34.13600
----------------------------------------------------------------
0 0030757272 MORTGAGORS: KAY BRIAN
KAY ROBIN
REGION CODE ADDRESS : 805 AUTUMN HILL
01 CITY : WEST DUNDEE
STATE/ZIP : IL 60118
MORTGAGE AMOUNT : 235,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,685.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.98300
----------------------------------------------------------------
0 0030761274 MORTGAGORS: SABEAN TIMOTHY
REGION CODE ADDRESS : 430 FREEDOM VIEW ROAD
01 CITY : VALLEY FORGE
STATE/ZIP : PA 19481
MORTGAGE AMOUNT : 487,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 487,159.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,621.90 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 73.90900
----------------------------------------------------------------
0 0030765861 MORTGAGORS: STEADMAN RANDY
STEADMAN DEBRA
REGION CODE ADDRESS : 17307 NE 26TH COURT
01 CITY : REDMOND
STATE/ZIP : WA 98052
MORTGAGE AMOUNT : 327,160.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,160.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,429.16 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 79.99000
----------------------------------------------------------------
0 0030770168 MORTGAGORS: BRULLO ROBERT
BRULLO KATHLEEN
REGION CODE ADDRESS : 13877 OZARK AVENUE COURT NORTH
01 CITY : MAY TOWNSHIP
STATE/ZIP : MN 55082
MORTGAGE AMOUNT : 395,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 395,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,932.87 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 79.31700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,870,260.00
P & I AMT: 13,975.26
UPB AMT: 1,868,346.89
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 29
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030770788 MORTGAGORS: ONODERA JOLIE
YAMADA GARY
REGION CODE ADDRESS : 25 LAKE HARBOR CT
01 CITY : SACRAMENTO
STATE/ZIP : CA 95831
MORTGAGE AMOUNT : 222,985.26 OPTION TO CONVERT :
UNPAID BALANCE : 221,333.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,781.32 OUTSIDE CONV DATE :
LIFETIME RATE : 8.87500 MATURITY DATE : 12/01/25
CURRENT INT RATE: 8.87500 PRODUCT CODE : 002
LTV : 79.63700
----------------------------------------------------------------
0 0030771240 MORTGAGORS: PORTER CALVIN
PORTER PAULA
REGION CODE ADDRESS : #12 TANGLEWOOD
01 CITY : MAGNOLIA
STATE/ZIP : AR 71753
MORTGAGE AMOUNT : 306,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 305,170.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,245.32 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 03/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 85.00000
----------------------------------------------------------------
0 0030771562 MORTGAGORS: WARREN ANTHONY
WARREN KATRINA
REGION CODE ADDRESS : 422 BELMONT PARK DRIVE
01 CITY : MUNROE FALLS
STATE/ZIP : OH 44262
MORTGAGE AMOUNT : 108,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 107,510.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 801.90 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 03/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 54.00000
----------------------------------------------------------------
0 0030778823 MORTGAGORS: NILES DAVID
NILES KARIN
REGION CODE ADDRESS : 3923 ANTONE ROAD
01 CITY : SANTA BARBARA
STATE/ZIP : CA 93110
MORTGAGE AMOUNT : 410,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 409,120.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,972.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 04/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 78.09500
----------------------------------------------------------------
0 0030779243 MORTGAGORS: HUGHES JEFFREY
HUGHES ANNA
REGION CODE ADDRESS : 3302 PALATINO WAY
01 CITY : SAN JOSE
STATE/ZIP : CA 95135
MORTGAGE AMOUNT : 302,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 301,743.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,221.11 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,349,685.26
P & I AMT: 10,022.43
UPB AMT: 1,344,878.32
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 30
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030779961 MORTGAGORS: WRIGHT MICHAEL
WRIGHT DIANE
REGION CODE ADDRESS : 2009 CERCA VIEJO WAY
01 CITY : AUSTIN
STATE/ZIP : TX 78746
MORTGAGE AMOUNT : 372,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 371,226.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,697.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 04/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030780068 MORTGAGORS: BLUMENTHAL MARK
REGION CODE ADDRESS : 715 SOUTH BRIGHTON COURT
01 CITY : ATLANTA
STATE/ZIP : GA 30327
MORTGAGE AMOUNT : 575,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 574,594.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,119.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 57.50000
----------------------------------------------------------------
0 0030781017 MORTGAGORS: HOGAN KATHLEEN
WAKAKUWA JASON
REGION CODE ADDRESS : 15 NOKOMIS WAY
01 CITY : NATICK
STATE/ZIP : MA 01760
MORTGAGE AMOUNT : 420,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 420,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,081.82 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030781652 MORTGAGORS: PERSHING STEPHEN
BROWN SARITA
REGION CODE ADDRESS : 614 CRESTWOOD DRIVE
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22302
MORTGAGE AMOUNT : 236,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,674.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,711.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030784466 MORTGAGORS: GARRETSON RON
GARRETSON JULIE
REGION CODE ADDRESS : 1826 EAST CYPRESS TREE DRIVE
01 CITY : GILBERT
STATE/ZIP : AZ 85234
MORTGAGE AMOUNT : 275,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,195.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,996.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/26
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 55.07000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,878,350.00
P & I AMT: 13,606.10
UPB AMT: 1,874,690.96
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 31
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030789390 MORTGAGORS: HONE RAYMOND
HONE SUSAN
REGION CODE ADDRESS : 15 WHITETAIL LANE
01 CITY : BERNARDS TOWNSHIP
STATE/ZIP : NJ 07920
MORTGAGE AMOUNT : 346,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 345,298.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,538.83 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.97300
----------------------------------------------------------------
0 0030790067 MORTGAGORS: SANCHEZ ROBERTO
REGION CODE ADDRESS : 8995 SW 52ND AVENUE
01 CITY : MIAMI
STATE/ZIP : FL 33156
MORTGAGE AMOUNT : 595,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 593,910.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,575.04 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0030790646 MORTGAGORS: BARKOURAS KENT
REGION CODE ADDRESS : 1906 IRVINE AVE
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92660
MORTGAGE AMOUNT : 319,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,136.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,488.15 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 03/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 89.98500
----------------------------------------------------------------
0 0030794291 MORTGAGORS: SINGH CHARAN
SINGH ANITA
REGION CODE ADDRESS : 4216 CHIMAY WAY
01 CITY : SAN JOSE
STATE/ZIP : CA 95148
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,811.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,223.75 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030794689 MORTGAGORS: CONE HENRY
TARBY JANNI
REGION CODE ADDRESS : 5131 RICHLAND DRIVE
01 CITY : RALEIGH
STATE/ZIP : NC 27612
MORTGAGE AMOUNT : 375,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 375,194.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,756.75 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 85.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,932,600.00
P & I AMT: 14,582.52
UPB AMT: 1,929,351.55
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 32
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030794697 MORTGAGORS: CARMICHAEL ALAN
CARMICHAEL REGINA
REGION CODE ADDRESS : 2703 CORNELL COVE
01 CITY : LAGO VISTA
STATE/ZIP : TX 78645
MORTGAGE AMOUNT : 275,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,596.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,073.12 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 88.44500
----------------------------------------------------------------
0 0030795355 MORTGAGORS: FRANKLIN DAVID
FRANKLIN LISA
REGION CODE ADDRESS : 610 PERIMETER DR
01 CITY : DOWNINGTOWN
STATE/ZIP : PA 19335
MORTGAGE AMOUNT : 224,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 223,614.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,604.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 94.56584
----------------------------------------------------------------
0 0030795538 MORTGAGORS: ANDERSON SCOTT
HARTMAN-ANDERSON L.
REGION CODE ADDRESS : 2237 LINCOLNWOOD
01 CITY : EVANSTON
STATE/ZIP : IL 60201
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,854.58 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030796130 MORTGAGORS: IVEY ANTHONY
IVEY DONNA
REGION CODE ADDRESS : 9512 YARDARM LANE
01 CITY : BURKE
STATE/ZIP : VA 22015
MORTGAGE AMOUNT : 237,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,782.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,704.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 94.99000
----------------------------------------------------------------
0 0030797070 MORTGAGORS: GREENWALD DAVID
GREENWALD HELINA
REGION CODE ADDRESS : 4 SADDLE ROCK TERRACE
01 CITY : GREAT NECK
STATE/ZIP : NY 11023
MORTGAGE AMOUNT : 400,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,788.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,970.36 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 62.50700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,381,950.00
P & I AMT: 10,207.53
UPB AMT: 1,380,781.48
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 33
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030797575 MORTGAGORS: MOBERLY WILLIAM
MOBERLY CATHERINE
REGION CODE ADDRESS : 3305 OAK RUN COURT
01 CITY : FALLS CHURCH
STATE/ZIP : VA 22042
MORTGAGE AMOUNT : 254,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,624.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,847.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030797773 MORTGAGORS: STEFICEK GARY
DIAZ LISA
REGION CODE ADDRESS : 146 IRVING AVENUE
01 CITY : SOUTH ORANGE
STATE/ZIP : NJ 07079
MORTGAGE AMOUNT : 382,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 381,811.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,873.60 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030797955 MORTGAGORS: IVERSON PAUL
IVERSON BRANDYE
REGION CODE ADDRESS : 27 CRESTVIEW DRIVE
01 CITY : LAS FLORES
STATE/ZIP : CA 92688
MORTGAGE AMOUNT : 282,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,219.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,121.58 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 89.98800
----------------------------------------------------------------
0 0030798219 MORTGAGORS: BERGHOLZ HARVEY
BERGHOLZ KATHRYN
REGION CODE ADDRESS : 1324 LAURIE LANE
01 CITY : BURR RIDGE
STATE/ZIP : IL 60521
MORTGAGE AMOUNT : 425,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 424,707.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,081.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 79.43900
----------------------------------------------------------------
0 0030798268 MORTGAGORS: BURTON RONALD
BURTON KAREN
REGION CODE ADDRESS : 4801 OLD TIMBER RIDGE ROAD
01 CITY : MARIETTA
STATE/ZIP : GA 30068
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,516.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,537.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 65.42000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,694,700.00
P & I AMT: 12,461.96
UPB AMT: 1,692,880.73
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 34
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030799522 MORTGAGORS: PICKERING JOEL
PICKERING JEANNE
REGION CODE ADDRESS : 7 BONNIE WAY
01 CITY : MIDDLEBOROUGH
STATE/ZIP : MA 02346
MORTGAGE AMOUNT : 174,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 174,346.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,377.42 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/22
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 79.77100
----------------------------------------------------------------
0 0030801120 MORTGAGORS: WHEATLEY JOHN
WHEATLEY LYNN
REGION CODE ADDRESS : 1500 MYERS PARK DRIVE
01 CITY : CHARLOTTE
STATE/ZIP : NC 28207
MORTGAGE AMOUNT : 426,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 425,136.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,125.84 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030801534 MORTGAGORS: SHAPIRO ADAM
SHAPIRO JEAN
REGION CODE ADDRESS : 9 ELLA ROAD
01 CITY : SPARTA
STATE/ZIP : NJ 07871
MORTGAGE AMOUNT : 263,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,026.86 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030803365 MORTGAGORS: SCHNEIDER JOSEPH
SCHNEIDER LORETTA
REGION CODE ADDRESS : 12 PHEASANT RUN
01 CITY : KINNELON
STATE/ZIP : NJ 07405
MORTGAGE AMOUNT : 382,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 382,274.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,975.05 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030803654 MORTGAGORS: BURGER GERALD
BURGER VICKI
REGION CODE ADDRESS : 18131 W. CLIFTON ROAD
01 CITY : LAKEWOOD
STATE/ZIP : OH 44107
MORTGAGE AMOUNT : 390,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 389,744.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,895.74 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 73.30827
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,636,800.00
P & I AMT: 12,400.91
UPB AMT: 1,635,101.87
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 35
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030804405 MORTGAGORS: MERCER JOHN
MERCER BARBARA
REGION CODE ADDRESS : 22609 CANYON RIDGE
01 CITY : CASTRO VALLEY
STATE/ZIP : CA 94552
MORTGAGE AMOUNT : 289,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 288,610.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,120.58 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.83400
----------------------------------------------------------------
0 0030805634 MORTGAGORS: BLOOM WILLIAM
REGION CODE ADDRESS : 7819 W PORT AU PRINCE LANE
01 CITY : PEORIA
STATE/ZIP : AZ 85381
MORTGAGE AMOUNT : 221,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 221,162.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,645.37 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 94.99925
----------------------------------------------------------------
0 0030806004 MORTGAGORS: DANIEL MICHAEL
REGION CODE ADDRESS : 271 PROSPECT AVENUE
01 CITY : LONG BEACH
STATE/ZIP : CA 90803
MORTGAGE AMOUNT : 297,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,119.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,235.02 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 85.00000
----------------------------------------------------------------
0 0030806236 MORTGAGORS: MORRIS WILLIAM
MORRIS ELLEN
REGION CODE ADDRESS : 2222 CHILTON ROAD
01 CITY : HOUSTON
STATE/ZIP : TX 77019
MORTGAGE AMOUNT : 440,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 440,056.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,235.54 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0030806699 MORTGAGORS: NAGARKATTI ARJUN
AMLADI SUCHITRA
REGION CODE ADDRESS : 2268 RUTLAND PLACE
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91362
MORTGAGE AMOUNT : 271,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,213.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,967.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 79.98137
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,520,450.00
P & I AMT: 11,204.35
UPB AMT: 1,518,162.03
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 36
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030806947 MORTGAGORS: KUEHN JACOB
KUEHN TRACY
REGION CODE ADDRESS : 301 GREENRIDGE RD
01 CITY : FRANKLIN LAKES
STATE/ZIP : NJ 07417
MORTGAGE AMOUNT : 432,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 431,724.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,245.47 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030807119 MORTGAGORS: LEVY DAVID
LEVY MAUREEN
REGION CODE ADDRESS : 2704 FRANKLIN STREET
01 CITY : LA CRESCENTA
STATE/ZIP : CA 91214
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,558.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,406.75 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030808091 MORTGAGORS: JOHNSON DAVID
JOHNSON JULIE
REGION CODE ADDRESS : 3985 GREYSTONE DRIVE NE
01 CITY : CEDAR RAPIDS
STATE/ZIP : IA 52411
MORTGAGE AMOUNT : 436,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 436,556.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,205.46 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 77.31800
----------------------------------------------------------------
0 0030808208 MORTGAGORS: HEALY JOHN
HEALY BARBARA
REGION CODE ADDRESS : 877 CORNWALL AVENUE
01 CITY : CHESHIRE
STATE/ZIP : CT 06410
MORTGAGE AMOUNT : 254,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,700.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,824.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030808463 MORTGAGORS: WARD ANNE
YOUNG DARRYL
REGION CODE ADDRESS : 1505 W JACKSON BLVD
01 CITY : CHICAGO
STATE/ZIP : IL 60607
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,752.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,507.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 64.22018
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,801,550.00
P & I AMT: 13,189.84
UPB AMT: 1,800,292.74
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 37
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030808844 MORTGAGORS: WANG HAICHI
REGION CODE ADDRESS : 1267 CASTLEMONT AVENUE
01 CITY : SAN JOSE
STATE/ZIP : CA 95128
MORTGAGE AMOUNT : 232,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 231,840.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,682.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030808943 MORTGAGORS: ELKIN DAVID
ELKIN LESLIE
REGION CODE ADDRESS : 112 FORREST VALLEY COURT
01 CITY : NASHVILLE
STATE/ZIP : TN 37209
MORTGAGE AMOUNT : 247,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,923.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,858.63 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 89.99600
----------------------------------------------------------------
0 0030808968 MORTGAGORS: KHORRAM HOMAYOUN
KHORRAM THERESA
REGION CODE ADDRESS : 13243 WHISPER CREEK DRIVE
01 CITY : CHARLOTTE
STATE/ZIP : NC 28277
MORTGAGE AMOUNT : 291,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,167.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,164.75 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 94.99900
----------------------------------------------------------------
0 0030809263 MORTGAGORS: HALPERN MARC
HALPERN KRISTAN
REGION CODE ADDRESS : 41 DELMAR AVENUE
01 CITY : GLEN ROCK
STATE/ZIP : NJ 07452
MORTGAGE AMOUNT : 253,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,949.96 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 88.98200
----------------------------------------------------------------
0 0030809834 MORTGAGORS: HASKELL JAMES
WALSH PATRICIA
REGION CODE ADDRESS : 255 MAY COURT
01 CITY : ENCINITAS
STATE/ZIP : CA 92007
MORTGAGE AMOUNT : 232,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 231,848.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,722.60 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,256,550.00
P & I AMT: 9,378.11
UPB AMT: 1,255,379.33
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 38
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030810089 MORTGAGORS: ACKLEY SHERMAN
SIMMONS DEBORAH
REGION CODE ADDRESS : 34896 SCENIC LANE
01 CITY : ROUND HILL
STATE/ZIP : VA 20141
MORTGAGE AMOUNT : 219,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 218,732.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,570.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030810188 MORTGAGORS: HOFFMAN STEPHEN
HODGES BARBARA
REGION CODE ADDRESS : 13650 HUNTER HILL PLACE
01 CITY : BRYANTOWN
STATE/ZIP : MD 20617
MORTGAGE AMOUNT : 258,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,571.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,876.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030810212 MORTGAGORS: BREEZE DAVID
BREEZE HILARY
REGION CODE ADDRESS : 434 & 436 WEST 5TH STREET
01 CITY : SAN DIMAS
STATE/ZIP : CA 91773
MORTGAGE AMOUNT : 270,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,826.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,010.31 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030810295 MORTGAGORS: WHITTAKER MICHAEL
WHITTAKER KATHLEEN
REGION CODE ADDRESS : 1748 FIELD CLIFFE DRIVE
01 CITY : RICHFIELD
STATE/ZIP : WI 53076
MORTGAGE AMOUNT : 278,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,313.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,043.54 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 77.36100
----------------------------------------------------------------
0 0030810543 MORTGAGORS: YOUNG TIMOTHY
YOUNG JULIA
REGION CODE ADDRESS : 30936 MARSBEN LANE
01 CITY : FORT BRAGG
STATE/ZIP : CA 95437
MORTGAGE AMOUNT : 401,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 401,262.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,122.83 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 77.96100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,428,700.00
P & I AMT: 10,623.18
UPB AMT: 1,424,707.31
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 39
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030810618 MORTGAGORS: LEAHY JOHN
LEAHY LYN
REGION CODE ADDRESS : 9 FIELDSTONE LANE
01 CITY : BEVERLY
STATE/ZIP : MA 01915
MORTGAGE AMOUNT : 230,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 229,845.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,687.66 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 88.46100
----------------------------------------------------------------
0 0030811251 MORTGAGORS: FUNARI MARK
ANDERSON ERIKA
REGION CODE ADDRESS : 201 BINGHAM ROAD
01 CITY : CARLISLE
STATE/ZIP : MA 01741
MORTGAGE AMOUNT : 395,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 395,327.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,868.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030811368 MORTGAGORS: ZIPPERSTEIN DANIELLA
ZIPPERSTEIN EDDIE
REGION CODE ADDRESS : 6655 N TOWER CIRCLE DRIVE
01 CITY : LINCOLNWOOD
STATE/ZIP : IL 60645
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,751.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,040.29 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 70.79600
----------------------------------------------------------------
0 0030812564 MORTGAGORS: MARTIN KUDRT
TOSO ANDREA
REGION CODE ADDRESS : 5310 PARKFORD CIRCLE
01 CITY : GRANITE BAY
STATE/ZIP : CA 95746
MORTGAGE AMOUNT : 242,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,449.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,843.94 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 94.97300
----------------------------------------------------------------
0 0030812804 MORTGAGORS: HITCHCOCK WILLIAM
HITCHCOCK DEBRA
REGION CODE ADDRESS : 9661 CLIPPER COVE COURT
01 CITY : ELK GROVE
STATE/ZIP : CA 95758
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,838.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,976.19 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 89.98000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,528,200.00
P & I AMT: 11,416.45
UPB AMT: 1,527,212.41
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 40
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030813752 MORTGAGORS: FARIDNIYA SHAHRIYAR
FARIDNIYA BARBARA
REGION CODE ADDRESS : 4132 BAYBERRY CIRCLE
01 CITY : EL DORADO HILLS
STATE/ZIP : CA 95762
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,831.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,776.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 90.51900
----------------------------------------------------------------
0 0030813802 MORTGAGORS: MCREYNOLDS BLAND
REGION CODE ADDRESS : 188 ROYAL GEORGE CIRCLE
01 CITY : MCQUEENEY
STATE/ZIP : TX 78123
MORTGAGE AMOUNT : 266,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,838.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,045.31 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0030814099 MORTGAGORS: EDWARDS BURKE
EDWARDS TRACY
REGION CODE ADDRESS : 1411 RED BUD TRAIL
01 CITY : AUSTIN
STATE/ZIP : TX 78746
MORTGAGE AMOUNT : 504,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 502,841.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,881.10 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 79.99461
----------------------------------------------------------------
0 0030814230 MORTGAGORS: REYNOLDS IAN
REYNOLDS LISA MAE
REGION CODE ADDRESS : 70 PARK STREET,UNIT #18-H
01 CITY : DUXBURY
STATE/ZIP : MA 02332
MORTGAGE AMOUNT : 148,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 147,820.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,137.99 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 75.89743
----------------------------------------------------------------
0 0030814974 MORTGAGORS: BRADY BRIAN
BRADY CATHY
REGION CODE ADDRESS : 4348 FIR AVENUE
01 CITY : SEAL BEACH
STATE/ZIP : CA 90740
MORTGAGE AMOUNT : 297,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,600.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,179.28 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,460,750.00
P & I AMT: 11,020.11
UPB AMT: 1,457,932.29
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 41
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030815146 MORTGAGORS: ANDREWS ERMA
BRUTSCHER MARTIN
REGION CODE ADDRESS : 19 HENDERSON HILL COURT
01 CITY : MONKTON
STATE/ZIP : MD 21111
MORTGAGE AMOUNT : 294,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,302.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,160.94 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030815229 MORTGAGORS: BROCATO ANTHONY
REGION CODE ADDRESS : 1 CLARK STREET
01 CITY : SMITHTOWN
STATE/ZIP : NY 11787
MORTGAGE AMOUNT : 200,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 199,881.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,555.58 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 86.95600
----------------------------------------------------------------
0 0030816003 MORTGAGORS: BURNETT BRANDON
BURNETT FELECIA
REGION CODE ADDRESS : 2602 POWDER MILL LANE
01 CITY : VIENNA
STATE/ZIP : VA 22181
MORTGAGE AMOUNT : 362,460.00 OPTION TO CONVERT :
UNPAID BALANCE : 362,234.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,754.96 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030816516 MORTGAGORS: MALKIEWICZ CARL
MALKIEWICZ LINDA
REGION CODE ADDRESS : 1705 WIND HAVEN COURT
01 CITY : CEDAR HILL
STATE/ZIP : TX 75104
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,838.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,976.19 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 68.42105
----------------------------------------------------------------
0 0030816821 MORTGAGORS: ORENSTEIN VIKKI
SHER DANIEL
REGION CODE ADDRESS : 16435 40TH AVENUE NORTH
01 CITY : PLYMOUTH
STATE/ZIP : MN 55446
MORTGAGE AMOUNT : 241,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,946.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,811.30 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,358,060.00
P & I AMT: 10,258.97
UPB AMT: 1,357,203.67
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 42
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030816839 MORTGAGORS: DUBE ANNE
DUBE NELSON
REGION CODE ADDRESS : 6645 CLUB VALLEY COURT
01 CITY : SUWANEE
STATE/ZIP : GA 30174
MORTGAGE AMOUNT : 237,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,850.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,786.89 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 79.99100
----------------------------------------------------------------
0 0030817118 MORTGAGORS: PAOLINO MATTHEW
PAOLINO LORI
REGION CODE ADDRESS : 202 RADNOR CHESTER ROAD AKA 198
01 CITY : VILLANOVA
STATE/ZIP : PA 19085
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,808.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,253.80 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 45.80100
----------------------------------------------------------------
0 0030817308 MORTGAGORS: SIDLER JEFFREY
SIDLER PATRICE
REGION CODE ADDRESS : 25 WINDSOR
01 CITY : OAKBROOK
STATE/ZIP : IL 60521
MORTGAGE AMOUNT : 348,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 348,533.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,650.76 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030818009 MORTGAGORS: MUNESES JEFFREY
MUNESES KERRY
REGION CODE ADDRESS : 2805 ROLLING FORK WAY
01 CITY : GLENWOOD
STATE/ZIP : MD 21738
MORTGAGE AMOUNT : 265,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,996.49 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 79.99200
----------------------------------------------------------------
0 0030818421 MORTGAGORS: MILLER JOHN
REGION CODE ADDRESS : 16086 WOODLAKE COURT
01 CITY : GRASS VALLEY
STATE/ZIP : CA 95949
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,563.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,660.25 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 56.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,502,350.00
P & I AMT: 11,348.19
UPB AMT: 1,501,505.31
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 43
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030818769 MORTGAGORS: LINMAN MARK
LINMAN TERESA
REGION CODE ADDRESS : 11316 ROLLING HILLS DR
01 CITY : EL CAJON
STATE/ZIP : CA 92020
MORTGAGE AMOUNT : 283,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,314.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,104.98 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030818926 MORTGAGORS: BAXTER TERRY
BAXTER PATRICIA
REGION CODE ADDRESS : SPRING HILL LANE
01 CITY : LYME
STATE/ZIP : NH 03768
MORTGAGE AMOUNT : 626,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 625,860.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,759.96 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030819262 MORTGAGORS: HOSBACH II EDWARD
REGION CODE ADDRESS : 804 PAULINE DRIVE
01 CITY : COLDWATER
STATE/ZIP : OH 45828
MORTGAGE AMOUNT : 281,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,139.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,114.82 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 78.19444
----------------------------------------------------------------
0 0030819429 MORTGAGORS: JACKSON RONALD
LORD-JACKSON KAREN
REGION CODE ADDRESS : 13 OAKKNOLL CIRCLE
01 CITY : NEWARK
STATE/ZIP : DE 19711
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,827.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,755.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 70.92300
----------------------------------------------------------------
0 0030819569 MORTGAGORS: MAGRINI THOMAS
MAGRINI DOONNA
REGION CODE ADDRESS : 8405 FEDERAL FOREST COURT
01 CITY : FREDERICKSBURG
STATE/ZIP : VA 22407
MORTGAGE AMOUNT : 233,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,201.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,754.21 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,669,750.00
P & I AMT: 12,489.18
UPB AMT: 1,668,343.31
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 44
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030819742 MORTGAGORS: MCPHERSON DOUGLAS
MCPHERSON JULIEANNE
REGION CODE ADDRESS : 1806 EDGEHILL DRIVE
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22307
MORTGAGE AMOUNT : 368,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 367,746.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,668.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030819973 MORTGAGORS: WONG WILLIAM
WONG ELISA
REGION CODE ADDRESS : 9 OVERHILL ROAD
01 CITY : WAYNE
STATE/ZIP : NJ 07470
MORTGAGE AMOUNT : 440,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 439,689.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,152.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030820476 MORTGAGORS: NADOLNY JOHN
NADOLNY ANN KATHLEEN
REGION CODE ADDRESS : 134 MOORFIELD TURN
01 CITY : HOCKESSIN
STATE/ZIP : DE 19707
MORTGAGE AMOUNT : 260,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,983.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,001.49 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030820559 MORTGAGORS: KEMP PATRICK
KEMP AMY
REGION CODE ADDRESS : 6801 HAVILAND MILL RD.
01 CITY : CLARKSVILLE
STATE/ZIP : MD 21029
MORTGAGE AMOUNT : 237,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,180.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,742.70 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030820898 MORTGAGORS: PATEL BHARATKUMAR
REGION CODE ADDRESS : 21 MEDBURY ROAD
01 CITY : NORTH ATTLEBORO
STATE/ZIP : MA 02760
MORTGAGE AMOUNT : 224,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 223,845.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,624.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,529,800.00
P & I AMT: 11,188.83
UPB AMT: 1,528,445.72
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 45
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030821086 MORTGAGORS: DEL ROSARIO ROMEO
DEL ROSARIO ELIZABETH
REGION CODE ADDRESS : 590 SERRANO LANE
01 CITY : CHULA VISTA
STATE/ZIP : CA 91910
MORTGAGE AMOUNT : 235,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,214.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,851.50 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 94.99800
----------------------------------------------------------------
0 0030821235 MORTGAGORS: ARDIZZONE KEITH
ARDIZZONE ALLISON
REGION CODE ADDRESS : 107 BARNYARD LANE
01 CITY : ROSLYN HEIGHTS
STATE/ZIP : NY 11577
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,551.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,356.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 63.72500
----------------------------------------------------------------
0 0030821946 MORTGAGORS: ORAM JEFFREY
ORAM KATHRYN
REGION CODE ADDRESS : 15 ORCHARD STREET
01 CITY : MENDHAM
STATE/ZIP : NJ 07945
MORTGAGE AMOUNT : 175,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 175,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,318.47 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030822258 MORTGAGORS: ABDELSAYED NAGI
ABDELSAYED NASREN
REGION CODE ADDRESS : 200 SOUTH PROSPECT AVENUE
01 CITY : REDONDO BEACH
STATE/ZIP : CA 90277
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 378,969.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,788.31 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 75.39600
----------------------------------------------------------------
0 0030822332 MORTGAGORS: BABTKIS EDWARD
BABTKIS DEBRA
REGION CODE ADDRESS : 11272 VISTA DEL LAGO
01 CITY : SANTA ANA
STATE/ZIP : CA 92705
MORTGAGE AMOUNT : 600,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 599,251.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,560.43 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 60.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,715,850.00
P & I AMT: 12,875.19
UPB AMT: 1,713,487.15
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 46
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030822498 MORTGAGORS: STERBINSKY CHRISTINE
STERBINSKY WILLIAM
REGION CODE ADDRESS : 47568 GRIFFITH PLACE
01 CITY : STERLING
STATE/ZIP : VA 20165
MORTGAGE AMOUNT : 314,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 313,778.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,249.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.37800
----------------------------------------------------------------
0 0030822829 MORTGAGORS: RYAN JOHN
RYAN FRANCINE
REGION CODE ADDRESS : 43 STAG LANE
01 CITY : GREENWICH
STATE/ZIP : CT 06830
MORTGAGE AMOUNT : 450,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 449,690.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,262.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 42.45200
----------------------------------------------------------------
0 0030822894 MORTGAGORS: CHHENG LAURENT
CHHENG COLETTE
REGION CODE ADDRESS : 11717 RIVES AVENUE
01 CITY : DOWNEY
STATE/ZIP : CA 90241
MORTGAGE AMOUNT : 346,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 346,284.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,633.66 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030823140 MORTGAGORS: MULCAHY MICHAEL
MULCAHY MARY
REGION CODE ADDRESS : 340 E CENTRAL AVENUE T/O ORANGETOWN
01 CITY : PEARL RIVER
STATE/ZIP : NY 10965
MORTGAGE AMOUNT : 228,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 227,769.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,797.67 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/22
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 79.58100
----------------------------------------------------------------
0 0030823504 MORTGAGORS: DAHARI ZION
DAHARI DYAN
REGION CODE ADDRESS : 276 BAL BAY DR
01 CITY : BAL HARBOUR
STATE/ZIP : FL 33154
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 649,563.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,769.47 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 44.82700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,988,500.00
P & I AMT: 14,713.15
UPB AMT: 1,987,087.01
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 47
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030823538 MORTGAGORS: LAUZIER BERNARD
MC GILL NANCY
REGION CODE ADDRESS : 67 WHISPERING WOODS
01 CITY : GUILFORD
STATE/ZIP : CT 06437
MORTGAGE AMOUNT : 271,390.58 OPTION TO CONVERT :
UNPAID BALANCE : 270,948.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,191.12 OUTSIDE CONV DATE :
LIFETIME RATE : 8.94000 MATURITY DATE : 02/01/24
CURRENT INT RATE: 8.94000 PRODUCT CODE : 002
LTV : 73.34800
----------------------------------------------------------------
0 0030823546 MORTGAGORS: HOUSTON JEFFREY
HOUSTON KAREN
REGION CODE ADDRESS : 5 CRESCENT BLUFF AVENUE
01 CITY : BRANFORD
STATE/ZIP : CT 06405
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,787.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,413.12 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 84.41500
----------------------------------------------------------------
0 0030823876 MORTGAGORS: PINKUS SCOTT
REGION CODE ADDRESS : 3512 MEADOW LARK DRIVE
01 CITY : HUNTINGTON VALLEY
STATE/ZIP : PA 19006
MORTGAGE AMOUNT : 382,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 381,984.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,806.65 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030823959 MORTGAGORS: LINDHEIM JERRY
LINDHEIM CAROLYN
REGION CODE ADDRESS : 729 SUSSEX ROAD
01 CITY : LOWER MERION
STATE/ZIP : PA 19096
MORTGAGE AMOUNT : 249,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,344.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,896.38 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 77.96875
----------------------------------------------------------------
0 0030824585 MORTGAGORS: KING MARK
KING ROBIN
REGION CODE ADDRESS : 23 RAYMOND AVENUE
01 CITY : PEMBROKE
STATE/ZIP : MA 02359
MORTGAGE AMOUNT : 118,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 117,775.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 960.13 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 05/01/22
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 79.19400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,346,390.58
P & I AMT: 10,267.40
UPB AMT: 1,344,841.08
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 48
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030824981 MORTGAGORS: CHIOVAROU JOSEPH
REGION CODE ADDRESS : 64 WARREN STREET
01 CITY : CHARLESTON
STATE/ZIP : SC 29403
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,539.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,704.56 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030825145 MORTGAGORS: LOFTUS PETER
BRUNETTA LESLIE
REGION CODE ADDRESS : 29 ROBERTS ROAD, UNIT #29
01 CITY : CAMBRIDGE
STATE/ZIP : MA 02138
MORTGAGE AMOUNT : 260,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,959.30 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030825533 MORTGAGORS: WOOMER MATTHEW
WOOMER PATTI
REGION CODE ADDRESS : 1665 DELONG RD
01 CITY : LEXINGTON
STATE/ZIP : KY 40515
MORTGAGE AMOUNT : 435,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 434,736.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,344.78 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 48.33300
----------------------------------------------------------------
0 0030825764 MORTGAGORS: BOUVET JAMES
REGION CODE ADDRESS : 421 27TH STREET
01 CITY : MANHATTAN BEACH
STATE/ZIP : CA 90266
MORTGAGE AMOUNT : 292,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,106.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,146.26 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 74.52200
----------------------------------------------------------------
0 0030825798 MORTGAGORS: MOLLICK JOHN
WOODHAMS SUZANNE
REGION CODE ADDRESS : 3201 WESTMINSTER AVENUE
01 CITY : UNIVERSITY PARK
STATE/ZIP : TX 75205
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,813.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,280.22 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 73.17000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,648,300.00
P & I AMT: 12,435.12
UPB AMT: 1,646,995.47
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 49
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030825848 MORTGAGORS: BOSWORTH D.
BOSWORTH ELIZABETH
REGION CODE ADDRESS : 40 SPOTTSWOOD LANE
01 CITY : NEWPORT NEWS
STATE/ZIP : VA 23606
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,764.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,673.00 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030825939 MORTGAGORS: DEPALMA GEORGE
DEPALMA ANNE
REGION CODE ADDRESS : 2838 HILL ROAD
01 CITY : VIENNA
STATE/ZIP : VA 22181
MORTGAGE AMOUNT : 271,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,851.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,180.53 OUTSIDE CONV DATE :
LIFETIME RATE : 9.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 9.00000 PRODUCT CODE : 002
LTV : 72.65400
----------------------------------------------------------------
0 0030826101 MORTGAGORS: FORTINO JR VINCENT
FORTINO TINA
REGION CODE ADDRESS : 442 ASHTON DRIVE
01 CITY : KING OF PRUSSIA
STATE/ZIP : PA 19406
MORTGAGE AMOUNT : 223,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 223,296.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,620.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 89.92313
----------------------------------------------------------------
0 0030826937 MORTGAGORS: ANDERSON TERRY
ANDERSON JANE
REGION CODE ADDRESS : 10835 MOORE DRIVE
01 CITY : MANASSAS
STATE/ZIP : VA 20111
MORTGAGE AMOUNT : 283,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,818.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,078.02 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 89.97760
----------------------------------------------------------------
0 0030827026 MORTGAGORS: CORLESS PETER
CORLESS KERI
REGION CODE ADDRESS : 32 SUNSET ROAD
01 CITY : WELLESLEY
STATE/ZIP : MA 02181
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,216.71 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 58.76200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,422,650.00
P & I AMT: 10,768.43
UPB AMT: 1,421,731.38
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 50
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030827752 MORTGAGORS: MORGAN O. FORREST
MORGAN MARIE
REGION CODE ADDRESS : 5600 STONEACRE PLACE
01 CITY : GLEN ALLEN
STATE/ZIP : VA 26060
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,804.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,142.60 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 76.39300
----------------------------------------------------------------
0 0030827786 MORTGAGORS: DECAMARA PAUL
REGION CODE ADDRESS : 92 NORTH MAPLE AVENUE
01 CITY : BASKING RIDGE
STATE/ZIP : NJ 07920
MORTGAGE AMOUNT : 282,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,223.22 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030827950 MORTGAGORS: MILLS RICHARD
MILLS NOHEMI
REGION CODE ADDRESS : 175 WATERFRONT DRIVE
01 CITY : MONTGOMERY
STATE/ZIP : TX 77356
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,658.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,915.03 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 05/01/26
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 58.82353
----------------------------------------------------------------
0 0030828081 MORTGAGORS: CIEMIAN ALAN
CIEMIAN MAUREEN
REGION CODE ADDRESS : 5510 BOULDER CANYON DRIVE
01 CITY : CASTRO VALLEY
STATE/ZIP : CA 94552
MORTGAGE AMOUNT : 288,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 288,216.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,166.66 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
0 0030828164 MORTGAGORS: OBENSTINE ROBERT
OBENSTINE RUTH
REGION CODE ADDRESS : 305 KENT STREET
01 CITY : FALLS CHURCH
STATE/ZIP : VA 22046
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,231.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,854.58 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 02/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 84.13793
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,357,000.00
P & I AMT: 10,302.09
UPB AMT: 1,355,509.52
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 51
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030828339 MORTGAGORS: CARMAN JOHN
DANOS DESPINA
REGION CODE ADDRESS : 247 SUMMER ROAD
01 CITY : READINGTON
STATE/ZIP : NJ 08870
MORTGAGE AMOUNT : 250,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,032.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,835.88 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 89.67700
----------------------------------------------------------------
0 0030828370 MORTGAGORS: KILEY THOMAS
KILEY LESLEE
REGION CODE ADDRESS : 3 TROY LANE
01 CITY : NEWTON
STATE/ZIP : MA 02168
MORTGAGE AMOUNT : 393,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 393,049.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,954.74 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030828875 MORTGAGORS: FRANKS ROBERT
FRANKS LINDA
REGION CODE ADDRESS : 9589 LAGERSFIELD CIRCLE
01 CITY : VIENNA
STATE/ZIP : VA 22181
MORTGAGE AMOUNT : 290,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,381.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,339.04 OUTSIDE CONV DATE :
LIFETIME RATE : 9.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.00000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030828883 MORTGAGORS: JACK BARBARA
REGION CODE ADDRESS : 101 OLD ACADEMY ROAD
01 CITY : FAIRFIELD
STATE/ZIP : CT 06430
MORTGAGE AMOUNT : 744,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 743,549.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 5,720.72 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 015
LTV : 80.00000
----------------------------------------------------------------
0 0030829543 MORTGAGORS: HUBER BRIAN
HUBER KATHLEEN
REGION CODE ADDRESS : 1706 JUMPER COURT
01 CITY : VIENNA
STATE/ZIP : VA 22182
MORTGAGE AMOUNT : 241,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,429.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,730.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,919,800.00
P & I AMT: 14,581.24
UPB AMT: 1,918,441.30
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 52
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030829568 MORTGAGORS: KEEGAN JOHN
KEEGAN PATRICIA
REGION CODE ADDRESS : 29 CORONET TERRACE
01 CITY : BURLINGTON
STATE/ZIP : NJ 08016
MORTGAGE AMOUNT : 217,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 217,777.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,733.72 OUTSIDE CONV DATE :
LIFETIME RATE : 8.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.87500 PRODUCT CODE : 002
LTV : 94.16000
----------------------------------------------------------------
0 0030829667 MORTGAGORS: BRANDISE JOHN
BRANDISE LAURA
REGION CODE ADDRESS : 2111 DONLON COURT
01 CITY : HENDERSON
STATE/ZIP : NV 89012
MORTGAGE AMOUNT : 274,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,374.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,136.59 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 94.53300
----------------------------------------------------------------
0 0030829741 MORTGAGORS: BROWN PETER
BROWN SUSAN
REGION CODE ADDRESS : 1430 HOLLYWOOD AVENUE
01 CITY : GLENVIEW
STATE/ZIP : IL 60025
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,764.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,672.99 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 61.53800
----------------------------------------------------------------
0 0030829949 MORTGAGORS: ZUBOWSKI ROBERT
REGION CODE ADDRESS : 53 OLD CROWN ROAD
01 CITY : OLD TAPPAN
STATE/ZIP : NJ 07675
MORTGAGE AMOUNT : 508,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 508,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,955.06 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030830145 MORTGAGORS: JUSTI HENRY
JUSTI MELINDA
REGION CODE ADDRESS : 243 105 STREET
01 CITY : STONE HARBOR
STATE/ZIP : NJ 08247
MORTGAGE AMOUNT : 292,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,322.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,249.07 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,653,600.00
P & I AMT: 12,747.43
UPB AMT: 1,652,739.61
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 53
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030830657 MORTGAGORS: MALLORY GLYNN
MALLORY LINDA
REGION CODE ADDRESS : 19221 HEATHER FOREST
01 CITY : SAN ANTONIO
STATE/ZIP : TX 78258
MORTGAGE AMOUNT : 234,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,858.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,799.26 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 76.72100
----------------------------------------------------------------
0 0030830822 MORTGAGORS: EDMONDS SHIRLEY
REGION CODE ADDRESS : 6003 SOUEID STREET
01 CITY : UPPER MARLBORO
STATE/ZIP : MD 20722
MORTGAGE AMOUNT : 214,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 214,464.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,727.53 OUTSIDE CONV DATE :
LIFETIME RATE : 9.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.00000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030831044 MORTGAGORS: JACOBS CHRISTOPHER
JACOBS ELLEN
REGION CODE ADDRESS : 11 MILLER STREET
01 CITY : WALLINGTON
STATE/ZIP : NJ 07057
MORTGAGE AMOUNT : 160,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 159,903.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,230.27 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 94.11700
----------------------------------------------------------------
0 0030831689 MORTGAGORS: VASQUEZ JOHN
REGION CODE ADDRESS : 108 PENGILLY DRIVE
01 CITY : NEW ROCHELLE
STATE/ZIP : NY 10804
MORTGAGE AMOUNT : 286,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,476.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,204.09 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030831788 MORTGAGORS: HAILEY ROSALIE
REGION CODE ADDRESS : 72 BROOK ROAD
01 CITY : WESTON
STATE/ZIP : MA 02193
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,781.99 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 62.33700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,135,350.00
P & I AMT: 8,743.14
UPB AMT: 1,134,702.21
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 54
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030832588 MORTGAGORS: RUSSELL JEFFREY
RUSSELL MELINDA
REGION CODE ADDRESS : 6284 WEYMOUTH DRIVE
01 CITY : SARASOTA
STATE/ZIP : FL 34238
MORTGAGE AMOUNT : 224,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 224,470.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,766.93 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 94.96500
----------------------------------------------------------------
0 0030832836 MORTGAGORS: FOWLER DOUGLAS
FOWLER SHANNON
REGION CODE ADDRESS : 10041 CLYDE CIRCLE
01 CITY : HIGHLAND RANCH
STATE/ZIP : CO 80126
MORTGAGE AMOUNT : 224,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 224,355.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,668.02 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 94.96900
----------------------------------------------------------------
0 0030832927 MORTGAGORS: DEBARD MICHAEL
DEBARD TRACEY
REGION CODE ADDRESS : 150 SOUTH LAKE DRIVE
01 CITY : MIDDLETOWN
STATE/ZIP : NJ 07701
MORTGAGE AMOUNT : 229,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 228,864.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,781.14 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030832943 MORTGAGORS: MCGARR PAUL
MCGARR CRISTINA
REGION CODE ADDRESS : 1414 PRESTON AVE
01 CITY : AUSTIN
STATE/ZIP : TX 78703
MORTGAGE AMOUNT : 214,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 214,555.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,575.39 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 73.02700
----------------------------------------------------------------
0 0030832984 MORTGAGORS: RILEY LESTER
RILEY MADELON
REGION CODE ADDRESS : 12731 NORTH 116TH STREET
01 CITY : SCOTTSDALE
STATE/ZIP : AZ 85259
MORTGAGE AMOUNT : 344,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 343,780.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,584.36 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 46.48600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,236,950.00
P & I AMT: 9,375.84
UPB AMT: 1,236,027.26
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 55
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030833131 MORTGAGORS: DOI BRADLEY
DOI LORI
REGION CODE ADDRESS : 1516 C. POINT DRIVE
01 CITY : FRISCO
STATE/ZIP : CO 80443
MORTGAGE AMOUNT : 264,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,593.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,059.20 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 79.99600
----------------------------------------------------------------
0 0030833180 MORTGAGORS: FURSMAN JAMES
REGION CODE ADDRESS : 16915 MAPLEWILD AVENUE SOUTHWEST
01 CITY : BURIEN
STATE/ZIP : WA 98166
MORTGAGE AMOUNT : 247,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,855.63 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030833743 MORTGAGORS: COTTER WILLIAM
EDWARDS-COTTER ANNE
REGION CODE ADDRESS : 585 GENEVA NATIONAL AVE N
01 CITY : LAKE GENEVA
STATE/ZIP : WI 53147
MORTGAGE AMOUNT : 225,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 225,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,750.03 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030833800 MORTGAGORS: SHICK JEFFREY
GEIS ADRIENNE
REGION CODE ADDRESS : 951 POWHATTAM STREET
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22314
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,827.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030833826 MORTGAGORS: PERCIVAL DONALD
MCGOWAN-PERCIVAL GWEN
REGION CODE ADDRESS : 7 GARRETSON DRIVE
01 CITY : FRANKLIN PARK
STATE/ZIP : NJ 08823
MORTGAGE AMOUNT : 239,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,816.58 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 67.39700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,227,750.00
P & I AMT: 9,308.61
UPB AMT: 1,227,593.69
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 56
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030833941 MORTGAGORS: CREPEAU RICHARD
CREPEAU ZAYDA
REGION CODE ADDRESS : 4 LAMBERT DRIVE
01 CITY : SPARTA
STATE/ZIP : NJ 07871
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,528.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,627.26 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/17
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 63.82900
----------------------------------------------------------------
0 0030834139 MORTGAGORS: VON SAUERS JOSEPH
VON SAUERS JUNE
REGION CODE ADDRESS : 200 HARBOR DRIVE #601
01 CITY : SAN DIEGO
STATE/ZIP : CA 92101
MORTGAGE AMOUNT : 217,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 217,650.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,579.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030834337 MORTGAGORS: JACKMAN MERL
JACKMAN DEBORAH
REGION CODE ADDRESS : 10513 INDIGO BROOM LOOP
01 CITY : AUSTIN
STATE/ZIP : TX 78733
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,796.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,146.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030834378 MORTGAGORS: DICKSON KEVIN
REGION CODE ADDRESS : 616 EDITH WAY
01 CITY : LONG BEACH
STATE/ZIP : CA 90807
MORTGAGE AMOUNT : 432,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 431,447.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,245.47 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030835003 MORTGAGORS: WILD PETER
WILD GIANNINA
REGION CODE ADDRESS : 131 SUMMIT AVENUE
01 CITY : UPPER MONTCLAIR
STATE/ZIP : NJ 07043
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,280.22 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 72.28900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,545,800.00
P & I AMT: 11,878.37
UPB AMT: 1,544,422.55
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 57
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030835045 MORTGAGORS: BUTLER DAVID
BUTLER JELENA
REGION CODE ADDRESS : 1309 BROW ESTATES DRIVE
01 CITY : SIGNAL MOUNTAIN
STATE/ZIP : TN 37377
MORTGAGE AMOUNT : 317,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 317,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,326.03 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 60.15180
----------------------------------------------------------------
0 0030835060 MORTGAGORS: COLE ROGER
COLE MARY
REGION CODE ADDRESS : 8654 SOUTHWIND DRIVE
01 CITY : MEMPHIS
STATE/ZIP : TN 38125
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,823.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,004.74 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 67.51600
----------------------------------------------------------------
0 0030835110 MORTGAGORS: EWANICH THOMAS
EWANICH KAREN
REGION CODE ADDRESS : LOT 4 WINSTANLEY WAY
01 CITY : HANOVER
STATE/ZIP : MA 02339
MORTGAGE AMOUNT : 220,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 220,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,652.79 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 61.28100
----------------------------------------------------------------
0 0030835235 MORTGAGORS: YOUNG DONALD
YOUNG CAROLINE
REGION CODE ADDRESS : 7 DANA STREET
01 CITY : BROOKLINE
STATE/ZIP : MA 02146
MORTGAGE AMOUNT : 302,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 301,812.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,295.42 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 54.90900
----------------------------------------------------------------
0 0030835748 MORTGAGORS: HARTMAN ERIC
THOMAS CAROLE
REGION CODE ADDRESS : 2 RANCOCAS LANE
01 CITY : MEDFORD
STATE/ZIP : NJ 08055
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,793.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,260.00 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,417,000.00
P & I AMT: 10,538.98
UPB AMT: 1,416,429.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 58
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030835847 MORTGAGORS: KENNEDY PATRICK
REGION CODE ADDRESS : 9 MOSSDALE ROAD
01 CITY : JAMAICA PLAIN
STATE/ZIP : MA 02130
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,907.79 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030835854 MORTGAGORS: WASSER CAROLINE
REGION CODE ADDRESS : 23840 NICOLE WAY
01 CITY : YORBA LINDA
STATE/ZIP : CA 92687
MORTGAGE AMOUNT : 234,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,249.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,762.10 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 94.34800
----------------------------------------------------------------
0 0030835870 MORTGAGORS: TAPPER MICHAEL
TAPPER BONNIE
REGION CODE ADDRESS : 8029 LISMORE CIRCLE
01 CITY : EDEN PRAIRIE
STATE/ZIP : MN 55347
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,846.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,803.04 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 92.68100
----------------------------------------------------------------
0 0030836001 MORTGAGORS: LA FAVE MICHAEL
LA FAVE SHERRY
REGION CODE ADDRESS : 1722 W 600 SOUTH
01 CITY : NEW PALESTINE
STATE/ZIP : IN 46130
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,818.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,306.75 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 66.66600
----------------------------------------------------------------
0 0030836027 MORTGAGORS: BURGGRAAFF EDWARD
BURGGRAAFF RAMONA
REGION CODE ADDRESS : 17516 WEST GAGES LAKE ROAD
01 CITY : GAGES LAKE
STATE/ZIP : IL 60030
MORTGAGE AMOUNT : 364,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 361,349.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,932.85 OUTSIDE CONV DATE :
LIFETIME RATE : 9.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.00000 PRODUCT CODE : 002
LTV : 89.77832
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,399,050.00
P & I AMT: 10,712.53
UPB AMT: 1,395,264.41
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 59
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030836118 MORTGAGORS: KADOMATSU GARY
KADOMATSU MARILYN
REGION CODE ADDRESS : 675 ROMEO COURT
01 CITY : PLEASANTON
STATE/ZIP : CA 94566
MORTGAGE AMOUNT : 330,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 329,296.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,364.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 48.52900
----------------------------------------------------------------
0 0030836340 MORTGAGORS: GRANT BARRY
GRANT CRISLYN
REGION CODE ADDRESS : 10927 EAST TIERRA DRIVE
01 CITY : SCOTTSDALE
STATE/ZIP : AZ 85259
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,822.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,019.59 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030836662 MORTGAGORS: BURT JAMES
BURT CYNTHIA
REGION CODE ADDRESS : 20736 EDGEBROOK COURT
01 CITY : ASHBURN
STATE/ZIP : VA 20147
MORTGAGE AMOUNT : 237,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,742.69 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030836837 MORTGAGORS: SCHROEDER WILLIAM
SCHROEDER KELLY
REGION CODE ADDRESS : LOT 23 REDHILL
01 CITY : HOLLYWOOD
STATE/ZIP : MD 20636
MORTGAGE AMOUNT : 237,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,352.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,805.18 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030836852 MORTGAGORS: LYNCH FRANK
LYNCH NANCY
REGION CODE ADDRESS : 1200 TOTTENHAM COURT
01 CITY : RESTON
STATE/ZIP : VA 20194
MORTGAGE AMOUNT : 386,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 386,533.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,804.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,463,800.00
P & I AMT: 10,736.20
UPB AMT: 1,462,504.98
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 60
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030837116 MORTGAGORS: BENJOAR STEVEN
BENJOAR BETHANY
REGION CODE ADDRESS : 13415 QUEENSTOWN LANE
01 CITY : GERMANTOWN
STATE/ZIP : MD 20874
MORTGAGE AMOUNT : 228,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 227,850.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,692.90 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 79.85989
----------------------------------------------------------------
0 0030837207 MORTGAGORS: HANSON DAVID
JOHNSON JOLENE
REGION CODE ADDRESS : 17517 AMELIA DRIVE
01 CITY : BATON ROUGE
STATE/ZIP : LA 70810
MORTGAGE AMOUNT : 428,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 428,050.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,140.88 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.99800
----------------------------------------------------------------
0 0030837249 MORTGAGORS: GIBBONS PATRICIA
KAFKA PAUL
REGION CODE ADDRESS : 1 FAIRMONT AVENUE
01 CITY : SOMERVILLE
STATE/ZIP : MA 02144
MORTGAGE AMOUNT : 254,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,841.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030837595 MORTGAGORS: WELSH FRANK
WELSH EUN
REGION CODE ADDRESS : 11401 HAVENNER ROAD
01 CITY : FAIRFAX STATION
STATE/ZIP : VA 22039
MORTGAGE AMOUNT : 290,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,200.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,105.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030837777 MORTGAGORS: ANAN JAMES
COHEN ELINOR
REGION CODE ADDRESS : 8 LARKSPUR PLACE
01 CITY : LIVINGSTON
STATE/ZIP : NJ 07039
MORTGAGE AMOUNT : 267,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,916.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 89.16600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,467,950.00
P & I AMT: 10,697.46
UPB AMT: 1,467,601.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 61
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030837785 MORTGAGORS: ABRAHAM ROBERT
ABRAHAM MICHELLE
REGION CODE ADDRESS : 38 TROWBRIDGE CIRCLE
01 CITY : ROWLEY
STATE/ZIP : MA 01969
MORTGAGE AMOUNT : 315,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 315,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,423.62 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030837793 MORTGAGORS: SAMUEL GERHARD
REGION CODE ADDRESS : 619 5TH AVENUE WEST #203
01 CITY : SEATTLE
STATE/ZIP : WA 98119
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,865.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,909.55 OUTSIDE CONV DATE :
LIFETIME RATE : 8.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030837926 MORTGAGORS: EDWARDS CALVIN
EDWARDS DONNA
REGION CODE ADDRESS : 7858 MEADOWGATE DRIVE
01 CITY : MANASSAS
STATE/ZIP : VA 20112
MORTGAGE AMOUNT : 243,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,150.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,763.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 79.96300
----------------------------------------------------------------
0 0030837959 MORTGAGORS: MARINO JOHN
MARINO CHRISTINE
REGION CODE ADDRESS : 15705 EAGLEVIEW DR.
01 CITY : CHARLOTTE
STATE/ZIP : NC 28278
MORTGAGE AMOUNT : 367,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 366,730.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,758.65 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030838098 MORTGAGORS: NIEMYER JOHN
NIEMYER ELIZABETH
REGION CODE ADDRESS : 9237 ENGLISH MEADOW WAY
01 CITY : GAITHERSBURG
STATE/ZIP : MD 20882
MORTGAGE AMOUNT : 251,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,802.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,417,150.00
P & I AMT: 10,657.33
UPB AMT: 1,416,545.54
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 62
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030838171 MORTGAGORS: FRANCO RIGOBERTO
FRANCO ANA
REGION CODE ADDRESS : 9533 SW 125 TERRACE
01 CITY : MIAMI
STATE/ZIP : FL 33176
MORTGAGE AMOUNT : 328,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 328,595.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,499.12 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 84.99900
----------------------------------------------------------------
0 0030838270 MORTGAGORS: EBERHARD PETER
EBERHARD KATHERINE
REGION CODE ADDRESS : 681 SOUTH MONROE WAY
01 CITY : DENVER
STATE/ZIP : CO 80209
MORTGAGE AMOUNT : 287,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,675.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,213.32 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030838346 MORTGAGORS: CIPOLLONE CLAUDIO
CIPOLLONE SILVANA
REGION CODE ADDRESS : 17 TODD LANE
01 CITY : STAMFORD
STATE/ZIP : CT 06905
MORTGAGE AMOUNT : 220,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 220,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,637.21 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030839302 MORTGAGORS: REIMERS GERARD
REIMERS ANNA
REGION CODE ADDRESS : 21 OGDEN ROAD
01 CITY : BELLEVILLE
STATE/ZIP : NJ 07109
MORTGAGE AMOUNT : 140,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 139,829.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,076.48 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030839401 MORTGAGORS: DONATELLO STEVEN
REGION CODE ADDRESS : 4501 NORTH FREDERICK AVENUE
01 CITY : SHOREWOOD
STATE/ZIP : WI 53211
MORTGAGE AMOUNT : 221,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 221,712.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,686.23 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,199,000.00
P & I AMT: 9,112.36
UPB AMT: 1,198,313.13
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 63
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030839476 MORTGAGORS: SHELL DONALD
SHELL ROBIN
REGION CODE ADDRESS : 11412 KEDLESTON ROAD
01 CITY : GLENN DALE
STATE/ZIP : MD 20769
MORTGAGE AMOUNT : 294,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,297.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,135.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030839484 MORTGAGORS: THOMAS RICHARD
BAIN-THOMAS KAY
REGION CODE ADDRESS : 1626 39TH AVENUE
01 CITY : SEATTLE
STATE/ZIP : WA 98122
MORTGAGE AMOUNT : 446,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 445,649.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,274.43 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030839534 MORTGAGORS: WILLIS CAROL
WILLIS JOYCE
REGION CODE ADDRESS : 2001 GATEWOOD PLACE
01 CITY : SILVER SPRING
STATE/ZIP : MD 20903
MORTGAGE AMOUNT : 229,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 229,248.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,846.61 OUTSIDE CONV DATE :
LIFETIME RATE : 9.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030839609 MORTGAGORS: MURPHY SEAN
HOGARTH JOANNE
REGION CODE ADDRESS : 12858 WILLIAMS MEADOW COURT
01 CITY : HERNDON
STATE/ZIP : VA 22071
MORTGAGE AMOUNT : 321,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 321,078.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,329.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030839625 MORTGAGORS: REEDE SARTORIUS
HALLOWAY DEENA
REGION CODE ADDRESS : 18 PACER DRIVE
01 CITY : NEWBURGH
STATE/ZIP : NY 12550
MORTGAGE AMOUNT : 116,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 116,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 904.57 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 94.93800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,407,850.00
P & I AMT: 10,490.59
UPB AMT: 1,406,573.69
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 64
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030839724 MORTGAGORS: MONASTERSKY GLENN
MONASTERSKY KERRY
REGION CODE ADDRESS : 62 JEAN STREET
01 CITY : RAMSEY
STATE/ZIP : NJ 07446
MORTGAGE AMOUNT : 261,375.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,195.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,895.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 85.00000
----------------------------------------------------------------
0 0030839765 MORTGAGORS: DURON ROBERT
DURON PATRICIA
REGION CODE ADDRESS : 2008 REDDENSON DRIVE
01 CITY : CARROLLTON
STATE/ZIP : TX 75010
MORTGAGE AMOUNT : 117,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 117,556.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 905.02 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 94.97600
----------------------------------------------------------------
0 0030839773 MORTGAGORS: HUNTER GRAHAM
HUNTER PATTI
REGION CODE ADDRESS : 21428 SE 34TH PL
01 CITY : ISSAQUAH
STATE/ZIP : WA 98029
MORTGAGE AMOUNT : 294,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,176.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,289.43 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 77.47000
----------------------------------------------------------------
0 0030839823 MORTGAGORS: GRANT DONALD
GRANT NANCY
REGION CODE ADDRESS : 1404 STRATFIELD ROAD
01 CITY : FAIRFIELD
STATE/ZIP : CT 06430
MORTGAGE AMOUNT : 228,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 227,861.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,753.12 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030839831 MORTGAGORS: KIEL RICHARD
KIEL DEBORAH
REGION CODE ADDRESS : 30 OAK TAVERN CIRCLE
01 CITY : BRANCHBURG
STATE/ZIP : NJ 08876
MORTGAGE AMOUNT : 285,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,927.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,192.17 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 79.98600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,186,525.00
P & I AMT: 9,034.90
UPB AMT: 1,185,717.36
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 65
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030839880 MORTGAGORS: BERNARD BILL
REGION CODE ADDRESS : 4901 MT. HOREB PIKE
01 CITY : LEXINGTON
STATE/ZIP : KY 40511
MORTGAGE AMOUNT : 266,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,084.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,023.70 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030839922 MORTGAGORS: SHELTON ANNE
SHELTON EDWARD
REGION CODE ADDRESS : 1410 ANDREW JOHNSON HWY
01 CITY : KNOXVILLE
STATE/ZIP : TN 37924
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,820.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,189.01 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 88.61500
----------------------------------------------------------------
0 0030840029 MORTGAGORS: KUTTY KRISHNAN
KUTTY GEETHA
REGION CODE ADDRESS : 5100 ALTA VISTA RD
01 CITY : BETHESDA
STATE/ZIP : MD 20814
MORTGAGE AMOUNT : 253,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,884.46 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 89.99000
----------------------------------------------------------------
0 0030840144 MORTGAGORS: PARVIN BAHARAK
REGION CODE ADDRESS : 13475 BLACK HILLS ROAD
01 CITY : SAN DIEGO
STATE/ZIP : CA 92129
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,848.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,854.58 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 93.84600
----------------------------------------------------------------
0 0030840706 MORTGAGORS: HUTCHIN NANCY
REGION CODE ADDRESS : 10307 CHESHIRE TERRACE
01 CITY : BETHESDA
STATE/ZIP : MD 20814
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,843.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,915.38 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,304,050.00
P & I AMT: 9,867.13
UPB AMT: 1,303,397.20
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 66
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030840896 MORTGAGORS: STALEY MARK
STALEY SALENA
REGION CODE ADDRESS : 8330 EPINARD COURT
01 CITY : ANNANDALE
STATE/ZIP : VA 22003
MORTGAGE AMOUNT : 247,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,830.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,790.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030840938 MORTGAGORS: BROWN JAMES
BROWN DONNA
REGION CODE ADDRESS : 4779 WELLINGTON
01 CITY : LONG GROVE
STATE/ZIP : IL 60047
MORTGAGE AMOUNT : 550,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 550,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,083.73 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 73.74900
----------------------------------------------------------------
0 0030841035 MORTGAGORS: BRACKEN FRANK
BRACKEN DEBRA
REGION CODE ADDRESS : 2306 WOODLAWN BLVD
01 CITY : AUSTIN
STATE/ZIP : TX 78703
MORTGAGE AMOUNT : 506,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 506,160.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,716.52 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 68.77121
----------------------------------------------------------------
0 0030841068 MORTGAGORS: GENTILE JOSEPH
WARD KARYN
REGION CODE ADDRESS : 3 EUREKA TERRACE
01 CITY : STAMFORD
STATE/ZIP : CT 06902
MORTGAGE AMOUNT : 385,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 385,341.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,829.40 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030841209 MORTGAGORS: GROSSMAN DAVID
GARCIA CEZANNE
REGION CODE ADDRESS : 951 21ST AVENUE EAST
01 CITY : SEATTLE
STATE/ZIP : WA 98112
MORTGAGE AMOUNT : 380,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 380,557.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,860.82 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,069,900.00
P & I AMT: 15,281.40
UPB AMT: 2,068,888.61
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 67
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030841274 MORTGAGORS: ALSTON LESLIE
ALSTON MONICA
REGION CODE ADDRESS : 401 WALNUT HILL ROAD
01 CITY : WEST CHESTER
STATE/ZIP : PA 19382
MORTGAGE AMOUNT : 228,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 228,818.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,801.15 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030841621 MORTGAGORS: BARON JOHN
REGION CODE ADDRESS : 8828 COUNTRY ROAD #612
01 CITY : MANSFIELD
STATE/ZIP : TX 76063
MORTGAGE AMOUNT : 256,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,344.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,972.26 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030841787 MORTGAGORS: JUHL GREGORY
JUHL SUZANNE
REGION CODE ADDRESS : 209 MOCKINGBIRD GARDENS DRIVE
01 CITY : LOUISVILLE
STATE/ZIP : KY 40207
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,660.26 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 50.00000
----------------------------------------------------------------
0 0030841944 MORTGAGORS: LE TRONG
TRAN DU HUONG
REGION CODE ADDRESS : 6750 POSITANO LANE
01 CITY : SAN JOSE
STATE/ZIP : CA 95138
MORTGAGE AMOUNT : 274,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,820.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,034.45 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 79.99100
----------------------------------------------------------------
0 0030842009 MORTGAGORS: BLAIR MARTIN
BLAIR ROSALIND
REGION CODE ADDRESS : 15401 S 31ST PLACE
01 CITY : PHOENIX
STATE/ZIP : AZ 85048
MORTGAGE AMOUNT : 291,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,823.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.54 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 77.80748
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,400,450.00
P & I AMT: 10,705.66
UPB AMT: 1,399,807.36
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 68
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030842025 MORTGAGORS: HUMES DAVID
HUMES JACQUELINE
REGION CODE ADDRESS : 309 NORTHEAST 52ND STREET
01 CITY : SEATTLE
STATE/ZIP : WA 98105
MORTGAGE AMOUNT : 244,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,643.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,839.10 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030842082 MORTGAGORS: FRIEL GREGORY
FRIEL ELISE
REGION CODE ADDRESS : LOT 2 CARBONE LANE
01 CITY : COHASSET
STATE/ZIP : MA 02025
MORTGAGE AMOUNT : 395,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 395,900.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,974.26 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 89.99700
----------------------------------------------------------------
0 0030842108 MORTGAGORS: PERLIN BRIAN
PERLIN MIRELLA
REGION CODE ADDRESS : 6350 SW 134 DRIVE
01 CITY : MIAMI
STATE/ZIP : FL 33156
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,802.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,328.93 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 78.88000
----------------------------------------------------------------
0 0030842116 MORTGAGORS: MC GRATH RICHARD
MC GRATH MARGARET
REGION CODE ADDRESS : 4977 DANA COURT
01 CITY : LIVERMORE
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 238,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,094.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,791.02 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 89.97900
----------------------------------------------------------------
0 0030842132 MORTGAGORS: LYMPANY RICHARD
LYMPANY STEPHANIE
REGION CODE ADDRESS : 34724 FLORENCELL AVENUE
01 CITY : ACTON
STATE/ZIP : CA 93510
MORTGAGE AMOUNT : 234,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,850.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,757.96 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,423,100.00
P & I AMT: 10,691.27
UPB AMT: 1,422,291.92
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 69
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030842447 MORTGAGORS: WARD JAMES
WARD VIVIENNE
REGION CODE ADDRESS : 7 ARICIA LANE
01 CITY : BEVERLY
STATE/ZIP : MA 01915
MORTGAGE AMOUNT : 224,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 224,299.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,646.93 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.98930
----------------------------------------------------------------
0 0030842462 MORTGAGORS: HAESE GLENN
REGION CODE ADDRESS : 45 PENZANCE ROAD
01 CITY : ROCKPORT
STATE/ZIP : MA 01966
MORTGAGE AMOUNT : 468,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 468,473.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,645.89 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030842579 MORTGAGORS: HUBBERT JR JOHN
HUBBERT JOAN
REGION CODE ADDRESS : LOT #30 1340 TROON LANE
01 CITY : WEST CHESTER
STATE/ZIP : PA 19380
MORTGAGE AMOUNT : 224,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 223,863.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,683.97 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 89.98500
----------------------------------------------------------------
0 0030842652 MORTGAGORS: GALDIERI FRANK
GALDIERI KRISTEN
REGION CODE ADDRESS : 10 DOE HILL ROAD
01 CITY : MORRIS TWP
STATE/ZIP : NJ 07960
MORTGAGE AMOUNT : 234,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,778.57 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030842876 MORTGAGORS: LYNCH KAREN
REGION CODE ADDRESS : 500 WEST 43RD STREET #24B
01 CITY : NEW YORK
STATE/ZIP : NY 10036
MORTGAGE AMOUNT : 222,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 221,862.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,687.36 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,373,350.00
P & I AMT: 10,442.72
UPB AMT: 1,372,497.81
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 70
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030843114 MORTGAGORS: FERGUSON GARY
YOUNG GERMAINE
REGION CODE ADDRESS : 9413 FERRY LANDING COURT
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22309
MORTGAGE AMOUNT : 318,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 318,191.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,364.12 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030843130 MORTGAGORS: ROCCIA DAVID
ROCCIA MICHELLE
REGION CODE ADDRESS : LOT #4 GREEN MEADOW DRIVE
01 CITY : LYNNFIELD
STATE/ZIP : MA 01940
MORTGAGE AMOUNT : 344,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 344,596.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,681.82 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030843213 MORTGAGORS: WARD ROBERT
MONSON MARY
REGION CODE ADDRESS : 12901 CHIPTALPA PLACE NE
01 CITY : ALBUQUERQUE
STATE/ZIP : NM 87111
MORTGAGE AMOUNT : 273,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,980.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,076.14 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 79.99800
----------------------------------------------------------------
0 0030843221 MORTGAGORS: LASTRELLA AMANDO
LASTRELLA LEA
REGION CODE ADDRESS : 616 SERRANO LANE
01 CITY : CHULA VISTA
STATE/ZIP : CA 91910
MORTGAGE AMOUNT : 270,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,150.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,101.20 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 89.99300
----------------------------------------------------------------
0 0030843478 MORTGAGORS: COOPER JAMES
COOPER KIMBERLY
REGION CODE ADDRESS : 4805 HIGH OAKS BLVD
01 CITY : TOLEDO
STATE/ZIP : OH 43623
MORTGAGE AMOUNT : 403,480.00 OPTION TO CONVERT :
UNPAID BALANCE : 403,216.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,995.83 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 79.11300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,609,980.00
P & I AMT: 12,219.11
UPB AMT: 1,609,134.43
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 71
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030843528 MORTGAGORS: PETROVSKY MARY
CRANDELL KEVIN
REGION CODE ADDRESS : 113 BUXTON CIRCLE
01 CITY : PLEASANT HILL
STATE/ZIP : CA 94523
MORTGAGE AMOUNT : 258,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,139.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,963.27 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030843841 MORTGAGORS: PEACE PAUL
PEACE KAREN
REGION CODE ADDRESS : 5306 VALLEY VIEW CREEK COURT
01 CITY : SPRING
STATE/ZIP : TX 77379
MORTGAGE AMOUNT : 258,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,724.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,099.17 OUTSIDE CONV DATE :
LIFETIME RATE : 9.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030843866 MORTGAGORS: WILLIAMS MICHAEL
WILLIAMS DEBORAH
REGION CODE ADDRESS : 5307 WAPAKONETA ROAD
01 CITY : BETHSEDA
STATE/ZIP : MD 20816
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,804.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,142.60 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030843882 MORTGAGORS: CHIAPARAS E.
CHIAPARAS SUSAN
REGION CODE ADDRESS : 6443 MUSTER COURT
01 CITY : CENTREVILLE
STATE/ZIP : VA 20120
MORTGAGE AMOUNT : 234,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,250.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,718.85 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
0 0030843890 MORTGAGORS: STERLING JOHN
STERLING EILEEN
REGION CODE ADDRESS : 5600 N . KNOX AVENUE
01 CITY : CHICAGO
STATE/ZIP : IL 60646
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,818.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,306.75 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 74.07400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,342,550.00
P & I AMT: 10,230.64
UPB AMT: 1,341,736.12
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 72
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030843932 MORTGAGORS: MILAM STEVEN
MILAM PAIGE
REGION CODE ADDRESS : 2382 FABERT COVE
01 CITY : COLLIERVILLE
STATE/ZIP : TN 38017
MORTGAGE AMOUNT : 334,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 334,697.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,575.09 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 76.98850
----------------------------------------------------------------
0 0030843940 MORTGAGORS: ROBINSON CHARLES
WILSON SUSAN
REGION CODE ADDRESS : 339 CREEDON CIRCLE
01 CITY : ALAMEDA
STATE/ZIP : CA 94502
MORTGAGE AMOUNT : 344,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 343,780.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,584.36 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030843957 MORTGAGORS: BOGAN,III JAMES
BOGAN JANE
REGION CODE ADDRESS : 2143 STARFIRE DRIVE
01 CITY : ATLANTA
STATE/ZIP : GA 30345
MORTGAGE AMOUNT : 297,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,110.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,233.52 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 94.98400
----------------------------------------------------------------
0 0030843965 MORTGAGORS: CARSON TIMOTHY
CARSON KATHY
REGION CODE ADDRESS : 2001 HICKORY COURT
01 CITY : HOLLISTER
STATE/ZIP : CA 95023
MORTGAGE AMOUNT : 247,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,142.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,035.30 OUTSIDE CONV DATE :
LIFETIME RATE : 9.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.25000 PRODUCT CODE : 002
LTV : 94.99600
----------------------------------------------------------------
0 0030843981 MORTGAGORS: GOEBEL MONICA
GOEBEL GARY
REGION CODE ADDRESS : 3015 EAST ACOMA DRIVE
01 CITY : PHOENIX
STATE/ZIP : AZ 85032
MORTGAGE AMOUNT : 239,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,592.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,802.29 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,463,500.00
P & I AMT: 11,230.56
UPB AMT: 1,462,323.66
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 73
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030844005 MORTGAGORS: DELGADO CELYNA
REGION CODE ADDRESS : 5409 FREDERICKSBURG ROAD
01 CITY : SAN ANTONIO
STATE/ZIP : TX 78229
MORTGAGE AMOUNT : 308,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 308,354.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,319.54 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030844096 MORTGAGORS: KADY THOMAS
FENSTER-KADY JEANNE
REGION CODE ADDRESS : 95 STALLION CIRCLE
01 CITY : TWP OF NORTHAMPTON
STATE/ZIP : PA 19053
MORTGAGE AMOUNT : 354,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 354,100.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,629.19 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 94.99000
----------------------------------------------------------------
0 0030844393 MORTGAGORS: DAYRIT DANILO
DAYRIT SUSAN
REGION CODE ADDRESS : 2664 RIVER ROAD
01 CITY : VIRGINIA BEACH
STATE/ZIP : VA 23454
MORTGAGE AMOUNT : 249,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,841.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,870.65 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030844435 MORTGAGORS: ECHEVERRI JOHN
MONTOYA CLAUDIA
REGION CODE ADDRESS : 10914 LAMPLIGHTER LANE
01 CITY : POTOMAC
STATE/ZIP : MD 20854
MORTGAGE AMOUNT : 406,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 405,847.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,086.65 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 79.90100
----------------------------------------------------------------
0 0030844518 MORTGAGORS: WEISMAN CHRISTIAN
WEISMAN JEAN
REGION CODE ADDRESS : 8363 AVELEY MANOR LANE
01 CITY : EASTON
STATE/ZIP : MD 21601
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,795.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,404.06 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 79.60100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,637,950.00
P & I AMT: 12,310.09
UPB AMT: 1,636,939.64
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 74
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030845002 MORTGAGORS: OSTROFF JONATHAN
OSTROFF LISA
REGION CODE ADDRESS : 110 STREAMSIDE CIRCLE
01 CITY : BRECKENRIDGE
STATE/ZIP : CO 80424
MORTGAGE AMOUNT : 276,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 276,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,122.21 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030845036 MORTGAGORS: FORREST BRENT
FORREST MARILYN
REGION CODE ADDRESS : 14036 MINT TRAIL DRIVE
01 CITY : SAN ANTONIO
STATE/ZIP : TX 78232
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,836.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,923.24 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030845119 MORTGAGORS: STASULIS DENIS
STASULIS LOIS
REGION CODE ADDRESS : 9820 FOX REST LANE
01 CITY : VIENNA
STATE/ZIP : VA 22181
MORTGAGE AMOUNT : 318,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 318,551.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,422.74 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030845135 MORTGAGORS: GUTTENDORF RICHARD
GUTTENDORF MARY
REGION CODE ADDRESS : 1735 ELK FOREST ROAD
01 CITY : ELKTON
STATE/ZIP : MD 21921
MORTGAGE AMOUNT : 398,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 398,170.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,134.22 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030845192 MORTGAGORS: PIGG THOMAS
PIGG MARGARET
REGION CODE ADDRESS : 1207 STRATHMORE DRIVE
01 CITY : SOUTHLAKE
STATE/ZIP : TX 76092
MORTGAGE AMOUNT : 407,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 407,346.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,098.05 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,656,750.00
P & I AMT: 12,700.46
UPB AMT: 1,655,906.07
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 75
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030845234 MORTGAGORS: GYORGY JERRY
GYORGY SUZANNE
REGION CODE ADDRESS : 519 ASHLEY WAY
01 CITY : PEACHTREE CITY
STATE/ZIP : GA 30269
MORTGAGE AMOUNT : 286,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,652.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,199.09 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 60.52900
----------------------------------------------------------------
0 0030845259 MORTGAGORS: MISHRA BRAJENDRA
MISHRA DEEPA
REGION CODE ADDRESS : 193 LOVELAND WAY
01 CITY : GOLDEN
STATE/ZIP : CO 80401
MORTGAGE AMOUNT : 276,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,655.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.80 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030845887 MORTGAGORS: CONNALLY NATHANIEL
CONNALLY PATRICIA
REGION CODE ADDRESS : 3193 NORTH POLLARD STREET
01 CITY : ARLINGTON
STATE/ZIP : VA 22207
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,832.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,052.20 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030845895 MORTGAGORS: HELPERT ROBERT
HELPERT SUSAN
REGION CODE ADDRESS : 1119 SPRINGMONT CIRCLE
01 CITY : BRYN MAWR
STATE/ZIP : PA 19010
MORTGAGE AMOUNT : 432,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 432,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,207.59 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030845994 MORTGAGORS: DOLAN GLENN
DOLAN (STACK) LISA
REGION CODE ADDRESS : 71 CLINTON AVENUE
01 CITY : MILLBURN
STATE/ZIP : NJ 07041
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,976.19 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 72.82900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,524,000.00
P & I AMT: 11,532.87
UPB AMT: 1,523,140.14
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 76
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030846034 MORTGAGORS: CROUCH VAN
KENNEDY-CROUCH LAURA
REGION CODE ADDRESS : 11014 BLACKBIRD DRIVE
01 CITY : HUNTSVILLE
STATE/ZIP : AL 35803
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,900.80 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030846059 MORTGAGORS: STRINGHAM RONALD
STRINGHAM JANE
REGION CODE ADDRESS : 116 WOODCLIFF BLVD.
01 CITY : MARLBORO
STATE/ZIP : NJ 07751
MORTGAGE AMOUNT : 180,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 179,890.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,384.05 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030846133 MORTGAGORS: BOOG TOM
BOOG ARLENE
REGION CODE ADDRESS : 27480 WESTOVER WAY
01 CITY : VALENCIA
STATE/ZIP : CA 91354
MORTGAGE AMOUNT : 219,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 219,766.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,690.85 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 94.98900
----------------------------------------------------------------
0 0030846299 MORTGAGORS: SMITH CHRISTOPHER
BERTINI VANESSA
REGION CODE ADDRESS : 9010 VIA MONTOYA
01 CITY : SCOTTSDALE
STATE/ZIP : AZ 85255
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,644.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,218.71 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 05/01/26
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 76.71200
----------------------------------------------------------------
0 0030846323 MORTGAGORS: BURNHAM ARCHIE
BURNHAM LESIA
REGION CODE ADDRESS : MICHAEL ROAD
01 CITY : MONROE
STATE/ZIP : GA 30656
MORTGAGE AMOUNT : 372,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 371,756.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,762.09 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,307,900.00
P & I AMT: 9,956.50
UPB AMT: 1,307,059.02
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 77
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030846356 MORTGAGORS: MESSNER DOUGLAS
MESSNER MARY
REGION CODE ADDRESS : 776 TROUN WAY
01 CITY : LIVERMORE
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 342,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 342,650.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,544.17 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
0 0030846372 MORTGAGORS: GINCH BRIAN
GINCH SUZANNE
REGION CODE ADDRESS : 5523 ASHLEIGH ROAD
01 CITY : FAIRFAX
STATE/ZIP : VA 22030
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,812.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,972.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030846448 MORTGAGORS: KASPUTIS DAVID
KASPUTIS NANCY
REGION CODE ADDRESS : 92 HIDDEN POINT
01 CITY : HENDERSONVILLE
STATE/ZIP : TN 37075
MORTGAGE AMOUNT : 262,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,328.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,949.06 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 89.89726
----------------------------------------------------------------
0 0030846471 MORTGAGORS: JONES LINDA
REGION CODE ADDRESS : 3421 MOUNT VERNON AVE
01 CITY : HOUSTON
STATE/ZIP : TX 77006
MORTGAGE AMOUNT : 319,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 316,874.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,456.68 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/26
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 82.34536
----------------------------------------------------------------
0 0030846505 MORTGAGORS: MACK FREDERICK
MACK JOAN
REGION CODE ADDRESS : 7310 HAMBLETON DRIVE
01 CITY : ST MICHAEL'S
STATE/ZIP : MD 21663
MORTGAGE AMOUNT : 265,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,677.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,037.63 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 36.05400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,461,650.00
P & I AMT: 10,959.73
UPB AMT: 1,458,342.86
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 78
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030846588 MORTGAGORS: O'BRIEN SHARON
REGION CODE ADDRESS : 5334 279TH AVENUE N.E.
01 CITY : REDMOND
STATE/ZIP : WA 98053
MORTGAGE AMOUNT : 247,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,442.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,860.14 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030846596 MORTGAGORS: HUNT KERRY
HUNT LOUISE
REGION CODE ADDRESS : 14132 TATTERSHALL PL
01 CITY : GERMANTOWN
STATE/ZIP : MD 20874
MORTGAGE AMOUNT : 249,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,650.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,897.52 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 79.99800
----------------------------------------------------------------
0 0030846604 MORTGAGORS: ECKES MARTIN
ECKES RISA
REGION CODE ADDRESS : 14123 TATTERSHALL PLACE
01 CITY : GERMANTOWN
STATE/ZIP : MD 20874
MORTGAGE AMOUNT : 235,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,953.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,786.93 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 79.97800
----------------------------------------------------------------
0 0030846612 MORTGAGORS: DAILEY DON
DAILEY DEBORAH
REGION CODE ADDRESS : 804 GRANDVIEW DRIVE
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22305
MORTGAGE AMOUNT : 225,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 224,845.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,631.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 70.53291
----------------------------------------------------------------
0 0030846661 MORTGAGORS: BROWNING HUGH
BROWNING WANDA
REGION CODE ADDRESS : 7823 TRAFALGAR PLACE
01 CITY : WARRENTON
STATE/ZIP : VA 20186
MORTGAGE AMOUNT : 245,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,447.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,866.74 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 65.49300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,202,950.00
P & I AMT: 9,042.74
UPB AMT: 1,202,338.47
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 79
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030846703 MORTGAGORS: BACH MATT
BACH NANCY
REGION CODE ADDRESS : 7 WOODS END RD
01 CITY : RUMSON
STATE/ZIP : NJ 07760
MORTGAGE AMOUNT : 452,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 451,688.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,277.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030846760 MORTGAGORS: MILLER STEVEN
MILLER LEE
REGION CODE ADDRESS : 266 MCKINLEY PARK LANE
01 CITY : LOUISVILLE
STATE/ZIP : CO 80027
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,822.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,166.21 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 61.54400
----------------------------------------------------------------
0 0030846810 MORTGAGORS: SOMMER JOHN
SOMMER JENSIN
REGION CODE ADDRESS : 2007 COMMONWEALTH AVENUE
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22301
MORTGAGE AMOUNT : 231,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 231,900.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,661.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0030846893 MORTGAGORS: FRYER THOMAS
FRYER ELIZABETH
REGION CODE ADDRESS : 3109 CAMERON MILLS DRIVE
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22302
MORTGAGE AMOUNT : 224,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 223,845.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,624.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030846950 MORTGAGORS: CLANCY TERRENCE
CLANCY CAROL
REGION CODE ADDRESS : 2870 BURR STREET
01 CITY : FAIRFIELD
STATE/ZIP : CT 06430
MORTGAGE AMOUNT : 236,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,776.75 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 48.76200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,429,400.00
P & I AMT: 10,505.79
UPB AMT: 1,428,757.63
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 80
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030846984 MORTGAGORS: YEGANEGI BAHMAN
YEGANEGI ANNA
REGION CODE ADDRESS : 25 W 576 JEROME AVENUE
01 CITY : WHEATON
STATE/ZIP : IL 60187
MORTGAGE AMOUNT : 276,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 276,299.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,224.38 OUTSIDE CONV DATE :
LIFETIME RATE : 9.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 9.00000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030846992 MORTGAGORS: WILSON DOUGLAS
WILSON CHRISTINA
REGION CODE ADDRESS : 10324 N.E. 201ST
01 CITY : BOTHELL
STATE/ZIP : WA 98011
MORTGAGE AMOUNT : 231,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 231,052.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,736.93 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030847016 MORTGAGORS: ORR ROBERT
ORR LISA
REGION CODE ADDRESS : 4720 192ND DRIVE N.E.
01 CITY : REDWOOD
STATE/ZIP : WA 98053
MORTGAGE AMOUNT : 220,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 219,859.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,652.79 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 61.11200
----------------------------------------------------------------
0 0030847032 MORTGAGORS: KRAMER DAVID
SELIG-MARKENSON SARI
REGION CODE ADDRESS : 121 WEST RAVINE BAYE ROAD
01 CITY : BAYSIDE
STATE/ZIP : WI 53217
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,878.17 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 66.66600
----------------------------------------------------------------
0 0030847206 MORTGAGORS: SMITH ROBERT
SMITH MELINA
REGION CODE ADDRESS : LOT 26, 45 AUTUMN ROAD
01 CITY : WRENTHAM
STATE/ZIP : MA 02093
MORTGAGE AMOUNT : 236,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,849.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,772.99 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,213,650.00
P & I AMT: 9,265.26
UPB AMT: 1,213,060.79
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 81
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030847420 MORTGAGORS: JUST GEORGE
JUST LAURA
REGION CODE ADDRESS : 2718 JENNY JAE LANE
01 CITY : CRYSTAL LAKE
STATE/ZIP : IL 60012
MORTGAGE AMOUNT : 427,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 427,227.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,211.67 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030847693 MORTGAGORS: VERKOWITZ CHARLENE
REGION CODE ADDRESS : 122 SHRUB HOLLOW ROAD NORTH
01 CITY : SEARINGTOWN
STATE/ZIP : NY 11576
MORTGAGE AMOUNT : 353,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 353,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,749.49 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0030847792 MORTGAGORS: GARRITY JAMES
REGION CODE ADDRESS : 5209 CAMMACK DR.
01 CITY : BETHESDA
STATE/ZIP : MD 20816
MORTGAGE AMOUNT : 560,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 559,614.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,060.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030847859 MORTGAGORS: FISCHER KEVIN
MOONEY FRANCES
REGION CODE ADDRESS : 1635 DEMPSEY STREET
01 CITY : MCLEAN
STATE/ZIP : VA 22101
MORTGAGE AMOUNT : 295,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,906.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,191.11 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 79.75600
----------------------------------------------------------------
0 0030847867 MORTGAGORS: GROSSMAN WALTER
GROSSMAN VERED
REGION CODE ADDRESS : 11123 ROBERT CARTER ROAD
01 CITY : FAIRFAX STATION
STATE/ZIP : VA 22039
MORTGAGE AMOUNT : 258,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,217.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,851.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,894,500.00
P & I AMT: 14,063.87
UPB AMT: 1,893,466.58
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 82
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030847875 MORTGAGORS: HWANG SEONG
LEE BYOUNG
REGION CODE ADDRESS : 6126 S JERICHO COURT
01 CITY : AURORA
STATE/ZIP : CO 80015
MORTGAGE AMOUNT : 244,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,205.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,900.53 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 89.98200
----------------------------------------------------------------
0 0030847909 MORTGAGORS: HERBERT SCOTT
HERBERT YVETTE
REGION CODE ADDRESS : 961 CLINTON PLACE
01 CITY : PLEASANTON
STATE/ZIP : CA 94566
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,838.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,976.19 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030847917 MORTGAGORS: ALCARAZ ALFONZO
ALCARAZ MARIA
REGION CODE ADDRESS : 663 CANYON DRIVE
01 CITY : CHULA VISTA
STATE/ZIP : CA 91913
MORTGAGE AMOUNT : 242,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,079.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,735.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 94.26000
----------------------------------------------------------------
0 0030848014 MORTGAGORS: JENNINGS KELLY
JENNINGS KEVIN
REGION CODE ADDRESS : 6171 DAFFODIL LANE
01 CITY : NORCROSS
STATE/ZIP : GA 30092
MORTGAGE AMOUNT : 344,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 344,580.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,590.37 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030848055 MORTGAGORS: WHITE NEIL
WHITE DEBORAH
REGION CODE ADDRESS : 133 CROSS TIMBERS
01 CITY : COPPELL
STATE/ZIP : TX 75019
MORTGAGE AMOUNT : 238,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,443.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,771.60 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 94.98785
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,330,000.00
P & I AMT: 9,974.20
UPB AMT: 1,329,147.20
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 83
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030848063 MORTGAGORS: NADLER MARTIN
NADLER IRENE
REGION CODE ADDRESS : LOT 5.2 WINHALL HOLLOW ROAD
01 CITY : WINHALL
STATE/ZIP : VT 05155
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,846.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,022.26 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 68.24100
----------------------------------------------------------------
0 0030848097 MORTGAGORS: DUPLACK CURTIS
DUPLACK DONNA
REGION CODE ADDRESS : 1075 LIGHTHOUSE ROAD
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 241,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,253.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,856.16 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 89.99000
----------------------------------------------------------------
0 0030848113 MORTGAGORS: MATSON THOMAS
MATSON CATHY
REGION CODE ADDRESS : 17900 SE 332ND STREET
01 CITY : AUBURN
STATE/ZIP : WA 98092
MORTGAGE AMOUNT : 359,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 358,871.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,697.80 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030848170 MORTGAGORS: BROWN ANDREW
BROWN SANDRA
REGION CODE ADDRESS : 2036 218TH PLACE NE
01 CITY : REDMOND
STATE/ZIP : WA 98053
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,827.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030848188 MORTGAGORS: BEACH KATHLEEN
WESTMORELAND PHILLIP
REGION CODE ADDRESS : 2380 MASSACHETTS AVENUE
01 CITY : LEXINGTON
STATE/ZIP : MA 02173
MORTGAGE AMOUNT : 567,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 566,629.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,209.96 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,679,500.00
P & I AMT: 12,613.35
UPB AMT: 1,678,600.36
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 84
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030848303 MORTGAGORS: BORING JON
BORING CHRISSIE
REGION CODE ADDRESS : 2615 HOLLINGSWORTH HILL AVENUE
01 CITY : LAKELAND
STATE/ZIP : FL 33803
MORTGAGE AMOUNT : 232,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 232,605.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,769.07 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030848337 MORTGAGORS: SHERRIS DAVID
REGION CODE ADDRESS : 37 NEILLAN CRESCENT
01 CITY : JAMAICA PLAIN
STATE/ZIP : MA 02130
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,761.04 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 71.64100
----------------------------------------------------------------
0 0030848436 MORTGAGORS: CRUISE TIMOTHY
CRUISE KATHLEEN
REGION CODE ADDRESS : 2910 CAMERON DRIVE
01 CITY : ROCKLIN
STATE/ZIP : CA 95765
MORTGAGE AMOUNT : 214,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 214,605.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,575.76 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 89.98700
----------------------------------------------------------------
0 0030848667 MORTGAGORS: SHERWOOD ROBERT
SHERWOOD SARRI
REGION CODE ADDRESS : 33 SETH LOW MOUNTAIN ROAD
01 CITY : RIDGEFIELD
STATE/ZIP : CT 06877
MORTGAGE AMOUNT : 230,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 230,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,748.17 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 60.20900
----------------------------------------------------------------
0 0030848816 MORTGAGORS: QUEEN PAULANNE
REGION CODE ADDRESS : 66 PHEASANT RUN
01 CITY : OLD TAPPAN
STATE/ZIP : NJ 07675
MORTGAGE AMOUNT : 263,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,685.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,005.46 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 89.99100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,181,350.00
P & I AMT: 8,859.50
UPB AMT: 1,180,897.23
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 85
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030849038 MORTGAGORS: HALCROW DOUGLAS
HALCROW EILEEN
REGION CODE ADDRESS : 19851 HIGH CREST CIRCLE
01 CITY : SANTA ANA
STATE/ZIP : CA 92705
MORTGAGE AMOUNT : 295,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,811.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,216.24 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 67.81600
----------------------------------------------------------------
0 0030849053 MORTGAGORS: STREETMAN STEVEN
STREETMAN VICKI
REGION CODE ADDRESS : 5149 VIA PLAYA LOS SANTOS
01 CITY : SAN DIEGO
STATE/ZIP : CA 92124
MORTGAGE AMOUNT : 266,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,059.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,001.37 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030849129 MORTGAGORS: MEYER J.
MEYER ANNE
REGION CODE ADDRESS : 278 BAYVIEW ROAD
01 CITY : BAY VILLAGE
STATE/ZIP : OH 44140
MORTGAGE AMOUNT : 152,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 151,907.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,168.75 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030849145 MORTGAGORS: TENORIO DARYK
ILANO-TENORIO BLESILDA
REGION CODE ADDRESS : 256 DEL MEDIO AVENUE
01 CITY : MOUNTAIN VIEW
STATE/ZIP : CA 94040
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,957.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 63.75400
----------------------------------------------------------------
0 0030849293 MORTGAGORS: PARTEN ROBERT
PARTEN CYNTHIA
REGION CODE ADDRESS : 1705 GRAYBAR LANE
01 CITY : NASHVILLE
STATE/ZIP : TN 37215
MORTGAGE AMOUNT : 218,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 218,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,599.61 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 58.91800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,201,400.00
P & I AMT: 8,943.66
UPB AMT: 1,200,778.90
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 86
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030849301 MORTGAGORS: FINNERAN DAVID
FINNERAN DIANNE
REGION CODE ADDRESS : 38 S. TANNERY ROAD
01 CITY : WESTMINISTER
STATE/ZIP : MD 21157
MORTGAGE AMOUNT : 147,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 146,906.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,104.36 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0030849335 MORTGAGORS: TRACY JOHN
TRACY PATRICIA
REGION CODE ADDRESS : 39505 COTTAGE GROVE LN
01 CITY : LOVETTSVILLE
STATE/ZIP : VA 20180
MORTGAGE AMOUNT : 160,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 160,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,160.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030849434 MORTGAGORS: WHITE WILLIAM
WHITE KIMBERLY
REGION CODE ADDRESS : 6655 KNIGHTS BRIDGE
01 CITY : CANTON
STATE/ZIP : OH 44718
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,803.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,313.91 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030849608 MORTGAGORS: DUFFY THOMAS
DUFFY JOYCE
REGION CODE ADDRESS : 6122 152ND PLACE SE
01 CITY : SNOHOMISH
STATE/ZIP : WA 98290
MORTGAGE AMOUNT : 234,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,200.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,760.60 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 79.98500
----------------------------------------------------------------
0 0030849699 MORTGAGORS: WILLIAMSON WARREN
WILLIAMS MARY
REGION CODE ADDRESS : 4525 E. 6TH AVE.
01 CITY : DENVER
STATE/ZIP : CO 80220
MORTGAGE AMOUNT : 267,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,834.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,029.40 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 68.81400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,116,350.00
P & I AMT: 8,368.39
UPB AMT: 1,115,744.46
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 87
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030849723 MORTGAGORS: ELKO VINCENT
ELKO LUCILLE
REGION CODE ADDRESS : 9617 OLD OREGON INLET ROAD
01 CITY : NAGS HEAD
STATE/ZIP : NC 27959
MORTGAGE AMOUNT : 239,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,414.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,837.71 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 03/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 68.48100
----------------------------------------------------------------
0 0030849749 MORTGAGORS: LINEBACK CHARLES
REGION CODE ADDRESS : 11846 NORTH RIVER GLEN DRIVE
01 CITY : FISHERS
STATE/ZIP : IN 46038
MORTGAGE AMOUNT : 295,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,811.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,216.24 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 78.66600
----------------------------------------------------------------
0 0030849772 MORTGAGORS: YASSA SABRY
SIDRACK GENEVIA
REGION CODE ADDRESS : 1530 ARCHER COURT
01 CITY : CAMPBELL
STATE/ZIP : CA 95008
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,829.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,930.50 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 74.28571
----------------------------------------------------------------
0 0030849863 MORTGAGORS: GREENE MATTHEW
REGION CODE ADDRESS : 18 INDIAN PIPE DRIVE
01 CITY : QUOGUE
STATE/ZIP : NY 11959
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,757.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,075.66 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 83.85744
----------------------------------------------------------------
0 0030849897 MORTGAGORS: HART DAVID
HART KAREN
REGION CODE ADDRESS : 2200 LIGHTWOOD ROAD
01 CITY : DEATSVILLE
STATE/ZIP : AL 36022
MORTGAGE AMOUNT : 216,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 215,858.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,603.80 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 78.54500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,410,000.00
P & I AMT: 10,663.91
UPB AMT: 1,408,672.83
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 88
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030850036 MORTGAGORS: HENRY EDGAR
HENRY OLIVE
REGION CODE ADDRESS : 10011 HIGHLAND VIEW
01 CITY : FORT WASHINGTON
STATE/ZIP : MD 20744
MORTGAGE AMOUNT : 224,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 224,103.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,665.05 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 94.98200
----------------------------------------------------------------
0 0030850077 MORTGAGORS: HILE CHARLES
HILE SONIA
REGION CODE ADDRESS : 5870 RIDGECREST AVENUE'
01 CITY : WARRENTON
STATE/ZIP : VA 20187
MORTGAGE AMOUNT : 226,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 226,472.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,802.93 OUTSIDE CONV DATE :
LIFETIME RATE : 8.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.87500 PRODUCT CODE : 002
LTV : 77.60200
----------------------------------------------------------------
0 0030850085 MORTGAGORS: OYLER THEODORE
RAGAINS-OYLER LESA
REGION CODE ADDRESS : 1325 EAST RACE STREET
01 CITY : DENVER
STATE/ZIP : CO 80206
MORTGAGE AMOUNT : 464,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 463,688.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,404.67 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030850093 MORTGAGORS: MICHELS PETER
MICHELS SUSAN
REGION CODE ADDRESS : 3306 YABA AVENUE
01 CITY : SAN JOSE
STATE/ZIP : CA 95117
MORTGAGE AMOUNT : 337,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 337,384.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,536.28 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030850226 MORTGAGORS: PARKER HARRY
CREDLE EDWARD
REGION CODE ADDRESS : 228 W OCEANVIEW AVENUE
01 CITY : NORFOLK
STATE/ZIP : VA 23503
MORTGAGE AMOUNT : 229,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 229,353.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,724.16 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 89.12600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,481,950.00
P & I AMT: 11,133.09
UPB AMT: 1,481,003.30
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 89
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030850499 MORTGAGORS: CONABLE SAMUEL
CONABLE LORI
REGION CODE ADDRESS : 3601 FLAMINGO AVENUE
01 CITY : SARASOTA
STATE/ZIP : FL 34242
MORTGAGE AMOUNT : 258,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,589.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,966.69 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030850549 MORTGAGORS: COCKRELL DONALD
REGION CODE ADDRESS : 6125 HIDDEN VALLEY DRIVE
01 CITY : ROANOKE
STATE/ZIP : VA 24018
MORTGAGE AMOUNT : 236,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,731.69 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030850572 MORTGAGORS: MELSON JAMES
MELSON VERONICA
REGION CODE ADDRESS : 898 N OHIO STREET
01 CITY : ARLINGTON
STATE/ZIP : VA 22205
MORTGAGE AMOUNT : 175,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 175,482.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,288.50 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030850655 MORTGAGORS: KNICKERBOCKER HEIDI
MC CARTHY JEAN
REGION CODE ADDRESS : 3310 NW 68TH STREET
01 CITY : SEATTLE
STATE/ZIP : WA 98117
MORTGAGE AMOUNT : 319,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,740.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,375.62 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
0 0030850929 MORTGAGORS: ZWEIER NANCY
REGION CODE ADDRESS : 792 HAMPTON COURT
01 CITY : SAGAMORE HILLS
STATE/ZIP : OH 44067
MORTGAGE AMOUNT : 106,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 105,935.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 815.05 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 56.83600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,096,300.00
P & I AMT: 8,177.55
UPB AMT: 1,095,747.83
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 90
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030850945 MORTGAGORS: KALOGEROPOULOS MICHAEL
KALOGEROPOULOS PENELOPE
REGION CODE ADDRESS : 1198 MEADOW GREEN LANE
01 CITY : MCLEAN
STATE/ZIP : VA 22102
MORTGAGE AMOUNT : 396,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 396,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,836.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030850960 MORTGAGORS: CHERTOS CYNTHIA
DODGE WILLIAM
REGION CODE ADDRESS : 7112 EXFAIR RD.
01 CITY : BETHESDA
STATE/ZIP : MD 20814
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,821.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,103.55 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 64.36700
----------------------------------------------------------------
0 0030851372 MORTGAGORS: PHELPS MICHAEL
PHELPS VICTORY
REGION CODE ADDRESS : 8733 EARLY TIMES LANE
01 CITY : WILTON
STATE/ZIP : CA 95693
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,806.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,283.85 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030851547 MORTGAGORS: WINSTON STUART
WINSTON NANCY
REGION CODE ADDRESS : 3055 COTTONTAIL CT
01 CITY : ANN ARBOR
STATE/ZIP : MI 48103
MORTGAGE AMOUNT : 343,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 343,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,516.81 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 62.36300
----------------------------------------------------------------
0 0030851638 MORTGAGORS: STICKLAND ALFRED
STICKLAND DEBORAH
REGION CODE ADDRESS : 50 GASTON STREET
01 CITY : METHUEN
STATE/ZIP : MA 01844
MORTGAGE AMOUNT : 64,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 64,427.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 513.19 OUTSIDE CONV DATE :
LIFETIME RATE : 8.87500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.87500 PRODUCT CODE : 002
LTV : 94.99200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,387,500.00
P & I AMT: 10,254.39
UPB AMT: 1,387,055.01
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 91
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030851935 MORTGAGORS: MCCORMICK ROBERT
MCCORMICK VALERIE
REGION CODE ADDRESS : 2651 CAPELLA WAY
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91362
MORTGAGE AMOUNT : 277,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,477.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,110.34 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0030852057 MORTGAGORS: MARKEY ALVIN
MARKEY DEBORAH
REGION CODE ADDRESS : 12202 HIGHLANDER COURT
01 CITY : LAUREL
STATE/ZIP : MD 20708
MORTGAGE AMOUNT : 235,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,203.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,788.84 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 79.99000
----------------------------------------------------------------
0 0030852081 MORTGAGORS: SILVIA RICHARD
SILVIA TERRY
REGION CODE ADDRESS : 822 DARLINGTON ROAD
01 CITY : MAHWAH
STATE/ZIP : NJ 07430
MORTGAGE AMOUNT : 329,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 329,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,622.45 OUTSIDE CONV DATE :
LIFETIME RATE : 8.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.87500 PRODUCT CODE : 002
LTV : 89.98000
----------------------------------------------------------------
0 0030852131 MORTGAGORS: GOLD JEFFREY
GOLD LESLIE
REGION CODE ADDRESS : 4804 BLACKHORSE ROAD
01 CITY : RANCHO PALOS VERDES
STATE/ZIP : CA 90275
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,776.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,356.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 72.38300
----------------------------------------------------------------
0 0030852230 MORTGAGORS: CLARKE WOODY
GROSS DIANNE
REGION CODE ADDRESS : 2000 HAELING PLACE
01 CITY : EL DORADO HILLS
STATE/ZIP : CA 95762
MORTGAGE AMOUNT : 328,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 328,195.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,496.08 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 94.99000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,496,000.00
P & I AMT: 11,374.19
UPB AMT: 1,495,253.35
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 92
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030852271 MORTGAGORS: HANES STEVEN
HANES ELIZABETH
REGION CODE ADDRESS : 14181 WILLIAMSBURG DRIVE
01 CITY : CARMEL
STATE/ZIP : IN 46033
MORTGAGE AMOUNT : 230,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 230,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,748.17 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030852313 MORTGAGORS: FROEHLICH CHARLES
FROEHLICH GAIL
REGION CODE ADDRESS : 7811 VALLEYFIELD DRIVE
01 CITY : SPRINGFIELD
STATE/ZIP : VA 22153
MORTGAGE AMOUNT : 289,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,405.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,124.99 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030852347 MORTGAGORS: LAVINS DAVID
LAVINS SUZANNE
REGION CODE ADDRESS : 10 FOX CHASE ROAD
01 CITY : MALVERN
STATE/ZIP : PA 19355
MORTGAGE AMOUNT : 344,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 343,796.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,675.60 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030852438 MORTGAGORS: COPE BENSON
HAYSLIP GRETCHEN
REGION CODE ADDRESS : 9514 27TH AVENUE NORTHWEST
01 CITY : SEATTLE
STATE/ZIP : WA 98117
MORTGAGE AMOUNT : 239,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,047.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,797.03 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030852446 MORTGAGORS: MCDERMOTT MICHAEL
MCCARTHY SUSAN
REGION CODE ADDRESS : 11 PARMENTER ROAD
01 CITY : SUDBURY
STATE/ZIP : MA 01776
MORTGAGE AMOUNT : 253,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,838.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,356,400.00
P & I AMT: 10,184.57
UPB AMT: 1,355,850.05
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 93
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030852586 MORTGAGORS: MILLWARD DONALD
REGION CODE ADDRESS : 1665 S.W. 4TH AVENUE
01 CITY : BOCA RATON
STATE/ZIP : FL 33432
MORTGAGE AMOUNT : 399,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 398,605.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,355.01 OUTSIDE CONV DATE :
LIFETIME RATE : 9.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.50000 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0030852651 MORTGAGORS: CORREA NESTOR
DEPALMA ELIZABETH
REGION CODE ADDRESS : 13 MEADOW RIDGE LANE
01 CITY : LAFAYETTE TOWNSHIP
STATE/ZIP : NJ 07822
MORTGAGE AMOUNT : 223,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 223,554.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,800.75 OUTSIDE CONV DATE :
LIFETIME RATE : 9.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.00000 PRODUCT CODE : 002
LTV : 79.99456
----------------------------------------------------------------
0 0030852685 MORTGAGORS: PRAT LAZARO
REGION CODE ADDRESS : 9898 NW 126TH TERRACE
01 CITY : HIALEAH GARDENS
STATE/ZIP : FL 33016
MORTGAGE AMOUNT : 96,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 96,099.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 791.41 OUTSIDE CONV DATE :
LIFETIME RATE : 9.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030852719 MORTGAGORS: OLIVEIRA MANUEL
OLIVEIRA MARIA
REGION CODE ADDRESS : 128 MAGAZINE STREET
01 CITY : NEWARK
STATE/ZIP : NJ 07105
MORTGAGE AMOUNT : 119,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 118,862.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 936.17 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0030852735 MORTGAGORS: MOTTOLA LINDA
REGION CODE ADDRESS : 3657 ROANOKE STREET
01 CITY : SEAFORD
STATE/ZIP : NY 11783
MORTGAGE AMOUNT : 140,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 140,107.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,166.53 OUTSIDE CONV DATE :
LIFETIME RATE : 9.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 978,250.00
P & I AMT: 8,049.87
UPB AMT: 977,230.76
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 94
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030852867 MORTGAGORS: FIDALGO JOSEPH
REGION CODE ADDRESS : 25 OVINGTON AVENUE
01 CITY : EDISON
STATE/ZIP : NJ 08817
MORTGAGE AMOUNT : 78,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 78,651.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 598.56 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0030852875 MORTGAGORS: RUTAN SCOTT
RUTAN JANICE
REGION CODE ADDRESS : 1711 LAKEFIELD NORTH COURT
01 CITY : WELLINGTON
STATE/ZIP : FL 33414
MORTGAGE AMOUNT : 100,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 99,898.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 831.75 OUTSIDE CONV DATE :
LIFETIME RATE : 9.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.37500 PRODUCT CODE : 002
LTV : 60.34300
----------------------------------------------------------------
0 0030852883 MORTGAGORS: CHAMBERLAIN GARY
REGION CODE ADDRESS : 114 NIPPIN TRAIL W
01 CITY : NOKOMIS
STATE/ZIP : FL 34275
MORTGAGE AMOUNT : 59,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 59,437.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 490.31 OUTSIDE CONV DATE :
LIFETIME RATE : 9.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.25000 PRODUCT CODE : 002
LTV : 59.60000
----------------------------------------------------------------
0 0030853295 MORTGAGORS: MCGILL THOMAS
LANPHERE VICTORIA
REGION CODE ADDRESS : 13402 157TH STREET COURT EAST
01 CITY : PUYALLUP
STATE/ZIP : WA 98374
MORTGAGE AMOUNT : 218,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 218,314.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,660.38 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 94.99800
----------------------------------------------------------------
0 0030853311 MORTGAGORS: BHATIA SUDHIR
BHATIA SHARMILA
REGION CODE ADDRESS : 137 LAS LOMAS WAY
01 CITY : WALNUT CREEK
STATE/ZIP : CA 94598
MORTGAGE AMOUNT : 295,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,271.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,271.75 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 752,250.00
P & I AMT: 5,852.75
UPB AMT: 751,572.82
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 95
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030853345 MORTGAGORS: ARNE ROBERT
ARNE JOELLE
REGION CODE ADDRESS : 925 FOXBERRY FARMS RD.
01 CITY : MEDINA
STATE/ZIP : MN 55340
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,788.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,584.25 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 89.02100
----------------------------------------------------------------
0 0030853402 MORTGAGORS: PATEL RAMCHANDRA
PATEL RANJAN
REGION CODE ADDRESS : 102 HOPKINS AVENUE
01 CITY : JERSEY CITY
STATE/ZIP : NJ 07306
MORTGAGE AMOUNT : 96,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 95,894.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 772.44 OUTSIDE CONV DATE :
LIFETIME RATE : 9.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030853410 MORTGAGORS: CHURCHILL BRUCE
REGION CODE ADDRESS : 4127 SAPPHIRE TERRACE
01 CITY : WESTON
STATE/ZIP : FL 33331
MORTGAGE AMOUNT : 90,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 90,810.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 764.34 OUTSIDE CONV DATE :
LIFETIME RATE : 9.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.50000 PRODUCT CODE : 002
LTV : 69.97600
----------------------------------------------------------------
0 0030853428 MORTGAGORS: WEBSTER MONICA
REGION CODE ADDRESS : 690 S.E. 23 AVENUE, UNIT #5
01 CITY : POMPANO BEACH
STATE/ZIP : FL 33062
MORTGAGE AMOUNT : 80,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 79,920.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 672.68 OUTSIDE CONV DATE :
LIFETIME RATE : 9.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030853436 MORTGAGORS: PERRON DAVE
PERRON CAROL
REGION CODE ADDRESS : 4607 OPEL TERRACE
01 CITY : PORT CHARLOTTE
STATE/ZIP : FL 33981
MORTGAGE AMOUNT : 96,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 95,897.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 781.09 OUTSIDE CONV DATE :
LIFETIME RATE : 9.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 702,900.00
P & I AMT: 5,574.80
UPB AMT: 702,312.04
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 96
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030853444 MORTGAGORS: HERMANN WALTER
HERMANN EVELYN
REGION CODE ADDRESS : 17719 DRACENA CIRCLE
01 CITY : NORTH FORT MYERS
STATE/ZIP : FL 33917
MORTGAGE AMOUNT : 112,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 111,889.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 941.76 OUTSIDE CONV DATE :
LIFETIME RATE : 9.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030853451 MORTGAGORS: CLARK SCOTT
CLARK KATHLEEN
REGION CODE ADDRESS : 870 WILAMETTE COURT
01 CITY : TRACY
STATE/ZIP : CA 95376
MORTGAGE AMOUNT : 165,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 165,432.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,377.38 OUTSIDE CONV DATE :
LIFETIME RATE : 9.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.37500 PRODUCT CODE : 002
LTV : 79.61500
----------------------------------------------------------------
0 0030853477 MORTGAGORS: GOGGIN CHRISTOPHER
GOGGIN CHRISTINE
REGION CODE ADDRESS : 637 WILD DUNES CIRCLE
01 CITY : WILMINGTON
STATE/ZIP : NC 28405
MORTGAGE AMOUNT : 205,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 205,368.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,635.85 OUTSIDE CONV DATE :
LIFETIME RATE : 8.87500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030853493 MORTGAGORS: OGLESBY JERRY
OGLESBY BRENDA
REGION CODE ADDRESS : 399 DARCY DRIVE
01 CITY : CLARKSVILLE
STATE/ZIP : VA 23927
MORTGAGE AMOUNT : 78,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 77,914.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 627.61 OUTSIDE CONV DATE :
LIFETIME RATE : 9.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.00000 PRODUCT CODE : 002
LTV : 62.40000
----------------------------------------------------------------
0 0030853501 MORTGAGORS: SOTO EDUARDO
SANTISTEBAN LAURA
REGION CODE ADDRESS : 3461 SW 154TH COURT
01 CITY : MIAMI
STATE/ZIP : FL 33185
MORTGAGE AMOUNT : 113,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 113,734.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 946.95 OUTSIDE CONV DATE :
LIFETIME RATE : 9.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.37500 PRODUCT CODE : 002
LTV : 79.98100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 675,050.00
P & I AMT: 5,529.55
UPB AMT: 674,339.09
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 97
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030853519 MORTGAGORS: HEADD THOMAS
REGION CODE ADDRESS : 1500 NE 43 STREET
01 CITY : FT LAUDERDALE
STATE/ZIP : FL 33344
MORTGAGE AMOUNT : 135,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 134,855.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,098.40 OUTSIDE CONV DATE :
LIFETIME RATE : 9.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030853568 MORTGAGORS: PAINTER FLOYD
PAINTER TANA
REGION CODE ADDRESS : 969 SILER ROAD
01 CITY : WINCHESTER
STATE/ZIP : VA 22603
MORTGAGE AMOUNT : 129,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 129,640.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,162.69 OUTSIDE CONV DATE :
LIFETIME RATE : 10.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 10.25000 PRODUCT CODE : 002
LTV : 78.63600
----------------------------------------------------------------
0 0030853634 MORTGAGORS: SMITH DAMON
COLEMAN ERICKA
REGION CODE ADDRESS : 18464 SALMON MINE ROAD
01 CITY : NEVADA
STATE/ZIP : CA 95959
MORTGAGE AMOUNT : 101,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 101,397.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 844.23 OUTSIDE CONV DATE :
LIFETIME RATE : 9.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.37500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0030853709 MORTGAGORS: LIN LILLIE
REGION CODE ADDRESS : 1913 APPLEWOOD DRIVE
01 CITY : HAGERTOWN
STATE/ZIP : MD 21740
MORTGAGE AMOUNT : 194,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 193,786.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,560.97 OUTSIDE CONV DATE :
LIFETIME RATE : 9.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.00000 PRODUCT CODE : 002
LTV : 79.18300
----------------------------------------------------------------
0 0030853717 MORTGAGORS: NORDT KENNETH
REGION CODE ADDRESS : 1310 LANCEWOOD PLACE
01 CITY : DELRAY
STATE/ZIP : FL 33333
MORTGAGE AMOUNT : 106,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 106,307.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 943.58 OUTSIDE CONV DATE :
LIFETIME RATE : 10.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 10.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 666,650.00
P & I AMT: 5,609.87
UPB AMT: 665,987.91
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 98
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030853766 MORTGAGORS: DIMINNI SILVANO
DIMINNI MARIE
REGION CODE ADDRESS : 304-306 BERKSHIRE AVENUE
01 CITY : PATERSON
STATE/ZIP : NJ 07510
MORTGAGE AMOUNT : 81,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 80,922.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 688.49 OUTSIDE CONV DATE :
LIFETIME RATE : 9.62500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030854384 MORTGAGORS: BOND ALAN
BOND SHEILA
REGION CODE ADDRESS : 871 MACEWEN DRIVE
01 CITY : OSPREY
STATE/ZIP : FL 34229
MORTGAGE AMOUNT : 616,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 615,654.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,901.18 OUTSIDE CONV DATE :
LIFETIME RATE : 8.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030854483 MORTGAGORS: VICK JOHN
VICK CATHERINE
REGION CODE ADDRESS : 40820 250TH AVENUE SE
01 CITY : ENUMCLAW
STATE/ZIP : WA 98022
MORTGAGE AMOUNT : 297,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,805.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,205.22 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030854558 MORTGAGORS: KORTGE CHRIS
REGION CODE ADDRESS : 6432 WILLIAMS RIDGE WAY
01 CITY : AUSTIN
STATE/ZIP : TX 78731
MORTGAGE AMOUNT : 305,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 305,360.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,322.40 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0030854681 MORTGAGORS: BUCKLEY EUGENE
BUCKLEY SUSAN
REGION CODE ADDRESS : 20465 SWAN CREEK COURT
01 CITY : STERLING
STATE/ZIP : VA 20165
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 312,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,235.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.90500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,611,550.00
P & I AMT: 12,352.50
UPB AMT: 1,610,742.55
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 99
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030854764 MORTGAGORS: SALZER BRADLEY
REGION CODE ADDRESS : 3322 JEAN CIRCLE
01 CITY : TAMPA
STATE/ZIP : FL 33692
MORTGAGE AMOUNT : 308,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 308,008.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,342.54 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030854988 MORTGAGORS: TRAN ANH
REGION CODE ADDRESS : 700 HELLYER AVENUE
01 CITY : SAN JOSE
STATE/ZIP : CA 95111
MORTGAGE AMOUNT : 174,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 173,883.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,276.76 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.81600
----------------------------------------------------------------
0 0030855134 MORTGAGORS: O'REILLY PATRICK
O'REILLY MARGARET
REGION CODE ADDRESS : 266 RIDGEBURY ROAD
01 CITY : RIDGEFIELD
STATE/ZIP : CT 06877
MORTGAGE AMOUNT : 225,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 225,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,670.62 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 52.94100
----------------------------------------------------------------
0 0030855209 MORTGAGORS: WATKINS WILLIAM
WATKINS ALETHA
REGION CODE ADDRESS : 7700 ELAINE COURT
01 CITY : PORT TOBACCO
STATE/ZIP : MD 20677
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,815.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,337.50 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030855225 MORTGAGORS: WHITE ALAN
WHITE PATRICIA
REGION CODE ADDRESS : 13 PICKMAN DRIVE UNIT 33
01 CITY : BEDFORD
STATE/ZIP : MA 01730
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,076.07 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,281,200.00
P & I AMT: 9,703.49
UPB AMT: 1,280,707.51
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 100
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030855241 MORTGAGORS: ALBANO RONALDO
ALBANO IMELDA
REGION CODE ADDRESS : 3260 POMERADO DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95135
MORTGAGE AMOUNT : 279,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,476.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,125.54 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 89.99600
----------------------------------------------------------------
0 0030855381 MORTGAGORS: KULESZKA ANDREW
KULESZKA MELINDA
REGION CODE ADDRESS : 16 HALL ROAD
01 CITY : STONEHAM
STATE/ZIP : MA 02180
MORTGAGE AMOUNT : 224,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 223,860.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,702.56 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030855522 MORTGAGORS: TAFT JAMES
TAFT EVELINA
REGION CODE ADDRESS : 2257 NORTH WISTERIA LANE
01 CITY : ORANGE
STATE/ZIP : CA 92867
MORTGAGE AMOUNT : 288,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 288,620.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,195.09 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030855589 MORTGAGORS: LEBRON-BERGES ALFONSO
LEBRON NYVIS DEL TORO
REGION CODE ADDRESS : 315 CAMBERLY CIRCLE
01 CITY : LAFAYETTE
STATE/ZIP : LA 70508
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,840.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,811.70 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030855605 MORTGAGORS: HELLER KENNETH
HELLER GINGER
REGION CODE ADDRESS : 5521 17TH ST N
01 CITY : ARLINGTON
STATE/ZIP : VA 22205
MORTGAGE AMOUNT : 228,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 228,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,653.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 79.44200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,264,450.00
P & I AMT: 9,488.05
UPB AMT: 1,263,797.82
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 101
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030855639 MORTGAGORS: HALL DAVID
HALL KATHERINE
REGION CODE ADDRESS : 2310 VIA CLAVEL
01 CITY : SAN CLEMENTE
STATE/ZIP : CA 92631
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,013.40 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030855704 MORTGAGORS: SAGAR STEPHAN
SEMONOFF SUSAN
REGION CODE ADDRESS : 2597 DERBYSHIRE
01 CITY : CLEVELAND HEIGHTS
STATE/ZIP : OH 44106
MORTGAGE AMOUNT : 285,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,196.02 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030855753 MORTGAGORS: DUDZINSKI WALTER
DUDZINSKI LESLIE
REGION CODE ADDRESS : 10 WHITETAIL WAY
01 CITY : CLINTON TWP
STATE/ZIP : NJ 08801
MORTGAGE AMOUNT : 404,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 404,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,070.70 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030855894 MORTGAGORS: PULLARA FRANK
PULLARA PATRICIA
REGION CODE ADDRESS : 2 MIDDLE CANYON ROAD
01 CITY : CARMEL VALLEY
STATE/ZIP : CA 93924
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,787.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,691.20 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 63.63600
----------------------------------------------------------------
0 0030855902 MORTGAGORS: HELMS FRED
HELMS ALMA
REGION CODE ADDRESS : 6 SARATOGA
01 CITY : DOVE CANYON
STATE/ZIP : CA 92679
MORTGAGE AMOUNT : 296,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,440.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,125.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 85.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,604,250.00
P & I AMT: 12,096.56
UPB AMT: 1,603,828.60
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 102
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030855928 MORTGAGORS: CHOATE HERBERT
CHOATE KATRINA
REGION CODE ADDRESS : 7863 EAST ALTA SIERRA CIRLE
01 CITY : SCOTTSDALE
STATE/ZIP : AZ 85262
MORTGAGE AMOUNT : 301,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 301,900.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,241.60 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 88.40900
----------------------------------------------------------------
0 0030856017 MORTGAGORS: KEEVER KIRK
MANDEVILLE MARY
REGION CODE ADDRESS : 1226 WYNDECROFTE PLACE
01 CITY : CHARLOTTE
STATE/ZIP : NC 28209
MORTGAGE AMOUNT : 297,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,614.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,263.50 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 94.99500
----------------------------------------------------------------
0 0030856058 MORTGAGORS: THOMSEN GARY
THOMSEN MARIEL
REGION CODE ADDRESS : 989 WANDER WAY
01 CITY : INCLINE VILLAGE
STATE/ZIP : NV 89451
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 400,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,969.99 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030856116 MORTGAGORS: EVANS PHILIP
REGION CODE ADDRESS : 722 LAST ARROW DRIVE
01 CITY : HOUSTON
STATE/ZIP : TX 77079
MORTGAGE AMOUNT : 233,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,562.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,817.70 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030856157 MORTGAGORS: THOMAS MICHAEL
THOMAS MARY
REGION CODE ADDRESS : 3925 PATTY LANE
01 CITY : BETHANY
STATE/ZIP : OK 73008
MORTGAGE AMOUNT : 220,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 219,873.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,730.75 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,453,400.00
P & I AMT: 11,023.54
UPB AMT: 1,452,950.34
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 103
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030856199 MORTGAGORS: COCHRAN DONALD
COCHRAN LENORA
REGION CODE ADDRESS : 113 NORTH CARVER STREET
01 CITY : RALEIGH
STATE/ZIP : NC 27610
MORTGAGE AMOUNT : 45,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 44,964.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 411.63 OUTSIDE CONV DATE :
LIFETIME RATE : 10.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 10.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030856207 MORTGAGORS: HUGEL ROBERT
MASON LINDA
REGION CODE ADDRESS : 2834 HARRISON STREET
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94110
MORTGAGE AMOUNT : 254,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,233.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,888.92 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030856355 MORTGAGORS: HEFNER GEORGE
HEFNER ANNE
REGION CODE ADDRESS : 2 LEDGEWOOD DRIVE
01 CITY : LAS FLORES
STATE/ZIP : CA 92688
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,796.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,230.65 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 89.96700
----------------------------------------------------------------
0 0030856363 MORTGAGORS: JAWADI M.
JAWADI JAMEELA
REGION CODE ADDRESS : 717 CHESTERFIELD
01 CITY : NAPERVILLE
STATE/ZIP : IL 60540
MORTGAGE AMOUNT : 330,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 330,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,569.04 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030856488 MORTGAGORS: HENSON RONALD
REGION CODE ADDRESS : 511 QUEEN ST.
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22314
MORTGAGE AMOUNT : 460,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 459,691.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,375.32 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,393,700.00
P & I AMT: 10,475.56
UPB AMT: 1,392,985.03
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 104
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030856496 MORTGAGORS: BROWN DAVID
LEASURE-BROWN SHARON
REGION CODE ADDRESS : 2254 PALMER CIRCLE
01 CITY : FAIRFIELD
STATE/ZIP : CA 94533
MORTGAGE AMOUNT : 236,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,291.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,734.99 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 94.99646
----------------------------------------------------------------
0 0030856520 MORTGAGORS: BOESEN DANIEL
BOESEN JOANNE
REGION CODE ADDRESS : 1911 BURTON DRIVE
01 CITY : BARTLETT
STATE/ZIP : IL 60103
MORTGAGE AMOUNT : 252,107.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,965.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,005.88 OUTSIDE CONV DATE :
LIFETIME RATE : 8.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.87500 PRODUCT CODE : 002
LTV : 94.99900
----------------------------------------------------------------
0 0030856710 MORTGAGORS: KHALAF RAMIZ
KHALAF ANDREE
REGION CODE ADDRESS : 510 DORRINGTON BLVD
01 CITY : METAIRIE
STATE/ZIP : LA 70005
MORTGAGE AMOUNT : 496,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 496,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,726.29 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 71.88400
----------------------------------------------------------------
0 0030856868 MORTGAGORS: NWAKIBU VALENTINE
OFFURUM-NWAKIBU CATENA
REGION CODE ADDRESS : 20713 DELTA DRIVE
01 CITY : LAYTONSVILLE
STATE/ZIP : MD 20882
MORTGAGE AMOUNT : 348,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 347,866.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,554.24 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 89.99700
----------------------------------------------------------------
0 0030857106 MORTGAGORS: PETITTI MICHAEL
PETITTI ANITA
REGION CODE ADDRESS : 12221 SOUTH 35TH STREET
01 CITY : PHOENIX
STATE/ZIP : AZ 85044
MORTGAGE AMOUNT : 248,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,033.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,821.21 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 85.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,580,857.00
P & I AMT: 11,842.61
UPB AMT: 1,580,156.89
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 105
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030857304 MORTGAGORS: WILSON Z.
WILSON LINDA
REGION CODE ADDRESS : 5617 ST ALBANS WAY
01 CITY : BALTIMORE
STATE/ZIP : MD 21212
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,028.42 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030857387 MORTGAGORS: CYWINSKI RICHARD
CYWINSKI DONNA
REGION CODE ADDRESS : 17745 EAST JAMISON AVENUE
01 CITY : AURORA
STATE/ZIP : CO 80016
MORTGAGE AMOUNT : 271,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,966.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030857429 MORTGAGORS: CREMER WILLIAM
CREMER ROBIN
REGION CODE ADDRESS : 13559 EAST BLOOMFIELD DRIVE
01 CITY : SCOTTSDALE
STATE/ZIP : AZ 85259
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,844.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,900.19 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 36.76400
----------------------------------------------------------------
0 0030857452 MORTGAGORS: TZANNES ALEXIS
BARRETT ERIN
REGION CODE ADDRESS : 72 GRASSLAND STREET
01 CITY : LEXINGTON
STATE/ZIP : MA 02173
MORTGAGE AMOUNT : 223,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 223,057.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,676.83 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030857569 MORTGAGORS: BUTTINO LOUIS
BUTTINO CYNTHIA
REGION CODE ADDRESS : 2838 STONE MILL COURT
01 CITY : BEAVERCREEK
STATE/ZIP : OH 45434
MORTGAGE AMOUNT : 332,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,788.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,494.21 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,346,400.00
P & I AMT: 10,066.04
UPB AMT: 1,345,890.56
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 106
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030857577 MORTGAGORS: THOMAS SAMUEL
REGION CODE ADDRESS : 25324 BORMANN DRIVE
01 CITY : NEW BRAUNFELS
STATE/ZIP : TX 78132
MORTGAGE AMOUNT : 251,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,589.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,891.32 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030857767 MORTGAGORS: HACALA CHARLES
HACALA ELIZABETH
REGION CODE ADDRESS : 423 CONCORD ROAD
01 CITY : BEDFORD
STATE/ZIP : MA 01730
MORTGAGE AMOUNT : 299,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,193.96 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 74.93700
----------------------------------------------------------------
0 0030857890 MORTGAGORS: RINKER DELITHA
REGION CODE ADDRESS : 5 SWEET GUM COURT
01 CITY : COLUMBIA
STATE/ZIP : SC 29223
MORTGAGE AMOUNT : 227,999.00 OPTION TO CONVERT :
UNPAID BALANCE : 227,849.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,692.89 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 60.79900
----------------------------------------------------------------
0 0030857932 MORTGAGORS: CHEN WEIMIN
CHEN PEGGY
REGION CODE ADDRESS : 28701 KING ARTHUR COURT
01 CITY : RANCHO PALOS VERDES
STATE/ZIP : CA 90275
MORTGAGE AMOUNT : 488,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 487,680.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,623.39 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030857965 MORTGAGORS: LEONARD JEFFREY
LEONARD LISA
REGION CODE ADDRESS : 19 DITZHAZY COURT
01 CITY : ROSEVILLE
STATE/ZIP : CA 95678
MORTGAGE AMOUNT : 222,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 222,415.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,711.22 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 93.41400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,489,299.00
P & I AMT: 11,112.78
UPB AMT: 1,488,535.27
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 107
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030858021 MORTGAGORS: WELHAM MARK
INTARTAGLIA ROSALIE
REGION CODE ADDRESS : 111 PHOENIXVILLE PIKE
01 CITY : MALVERN
STATE/ZIP : PA 19355
MORTGAGE AMOUNT : 233,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,019.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,671.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 89.98100
----------------------------------------------------------------
0 0030858088 MORTGAGORS: MARKS LEE
MARKS MARGARET
REGION CODE ADDRESS : 728 EAST GREEN LANE
01 CITY : WOODSTOCK
STATE/ZIP : GA 30189
MORTGAGE AMOUNT : 280,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,161.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,057.11 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
0 0030858179 MORTGAGORS: HAYGOOD JACK
HAYGOOD DONNA
REGION CODE ADDRESS : 5200 WHISPER DRIVE
01 CITY : CORAL SPRINGS
STATE/ZIP : FL 33067
MORTGAGE AMOUNT : 408,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 408,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,065.17 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030858195 MORTGAGORS: DEJEAN III BAPTISTE
KLEINE TERI
REGION CODE ADDRESS : 10 FELICITY TRACE PLACE
01 CITY : THE WOODLANDS
STATE/ZIP : TX 77382
MORTGAGE AMOUNT : 191,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 191,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,419.66 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030858237 MORTGAGORS: PAK EDWARD
KIM HUI
REGION CODE ADDRESS : 19834 GLEN BRAE DRIVE
01 CITY : SARATOGA
STATE/ZIP : CA 95070
MORTGAGE AMOUNT : 634,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 634,100.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,763.79 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 74.99700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,747,000.00
P & I AMT: 12,977.48
UPB AMT: 1,746,481.43
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 108
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030858245 MORTGAGORS: JACKSON PHILIP
JACKSON SHERRY
REGION CODE ADDRESS : 6420 NORTH EAST DAVIS ST.
01 CITY : PORTLAND
STATE/ZIP : OR 97213
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,839.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,819.12 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 64.47300
----------------------------------------------------------------
0 0030858294 MORTGAGORS: CHOPPIN SAMUEL
HENRY-CHOPPIN MARY
REGION CODE ADDRESS : 4906 MAYMANOR CIRCLE
01 CITY : NASHVILLE
STATE/ZIP : TN 37205
MORTGAGE AMOUNT : 415,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 414,735.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,117.76 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 74.10700
----------------------------------------------------------------
0 0030858443 MORTGAGORS: NEWCOMB JULIE
NEWCOMB RICHARD
REGION CODE ADDRESS : 2625 BURRIER LANE
01 CITY : TUSTIN
STATE/ZIP : CA 92680
MORTGAGE AMOUNT : 261,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,833.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,960.81 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 92.22614
----------------------------------------------------------------
0 0030858500 MORTGAGORS: SLEETE JEFFREY
SLEETE DENISE
REGION CODE ADDRESS : 13815 CRIPPLEGATE ROAD
01 CITY : PHOENIX
STATE/ZIP : MD 21131
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,805.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,127.92 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 85.29400
----------------------------------------------------------------
0 0030858542 MORTGAGORS: RYAN MARY
NERADKA JEFFREY
REGION CODE ADDRESS : 2539 NO.UPLAND STREET
01 CITY : ARLINGTON
STATE/ZIP : VA 22207
MORTGAGE AMOUNT : 225,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 225,444.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,635.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,436,600.00
P & I AMT: 10,661.37
UPB AMT: 1,435,658.83
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 109
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030858609 MORTGAGORS: MCINERNEY MICHAEL
MCINERNEY AMADA
REGION CODE ADDRESS : 880 CREEK WOOD CIRCLE
01 CITY : FAIRVIEW
STATE/ZIP : TX 75069
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,824.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,989.90 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030858641 MORTGAGORS: EIBSEN DONALD
EIBEN LAURA
REGION CODE ADDRESS : 3131 EAST 7TH AVENUE
01 CITY : DENVER
STATE/ZIP : CO 80206
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 379,757.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,854.81 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030858757 MORTGAGORS: POLLARD GARRY
POLLARD DARCY
REGION CODE ADDRESS : 820 RIDGE DRIVE
01 CITY : CONCORD
STATE/ZIP : CA 94518
MORTGAGE AMOUNT : 348,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 347,760.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,523.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030858765 MORTGAGORS: BOSSELAIT ROBERT
BOSSELAIT PAMELA
REGION CODE ADDRESS : 466 W ANGUS WAY
01 CITY : HIGHLANDS RANCH
STATE/ZIP : CO 80126
MORTGAGE AMOUNT : 254,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,129.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,865.97 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.98800
----------------------------------------------------------------
0 0030858849 MORTGAGORS: GEBHART ANN
REGION CODE ADDRESS : 8801 WANDERING TRAIL DRIVE
01 CITY : POTOMAC
STATE/ZIP : MD 20854
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,976.19 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 76.47000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,510,300.00
P & I AMT: 11,210.12
UPB AMT: 1,509,472.23
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 110
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030858864 MORTGAGORS: BENT COREY
REGION CODE ADDRESS : 3009 S HILL STREET
01 CITY : ARLINGTON
STATE/ZIP : VA 22202
MORTGAGE AMOUNT : 239,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,981.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,713.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.99600
----------------------------------------------------------------
0 0030859003 MORTGAGORS: RYAN GREGORY
RYAN MAUREEN
REGION CODE ADDRESS : 3 DONALD ROAD
01 CITY : BURLINGTON
STATE/ZIP : MA 01803
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,844.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,900.18 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 73.52900
----------------------------------------------------------------
0 0030859110 MORTGAGORS: KULKARNI KRISHNA
KULKARNI RAMA
REGION CODE ADDRESS : 1467 PETAL WAY
01 CITY : SAN JOSE
STATE/ZIP : CA 95129
MORTGAGE AMOUNT : 354,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 354,162.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,600.47 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030859136 MORTGAGORS: BELL LORRIE
BELL RANDY
REGION CODE ADDRESS : 216 RODEO COURT
01 CITY : SAN DIMAS
STATE/ZIP : CA 91773
MORTGAGE AMOUNT : 228,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 227,861.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,753.13 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030859177 MORTGAGORS: WAISHAMPAYAN ANAND
WAISHAMPAYAN VARSHA
REGION CODE ADDRESS : 7 ROBIN CIRCLE
01 CITY : PRINCETON
STATE/ZIP : NJ 08550
MORTGAGE AMOUNT : 346,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 346,284.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,633.66 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,418,050.00
P & I AMT: 10,600.74
UPB AMT: 1,417,134.51
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 111
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030859201 MORTGAGORS: MUSIAL BART
SCHNEIDER-MUSIAL DEBRA
REGION CODE ADDRESS : 2600 NORTHWEST 27TH AVENUE
01 CITY : BOCA RATON
STATE/ZIP : FL 33434
MORTGAGE AMOUNT : 235,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,765.48 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 71.75500
----------------------------------------------------------------
0 0030859235 MORTGAGORS: DUFFNEY JIM
DUFFNEY COLLEEN
REGION CODE ADDRESS : 5 RIVERSIDE DRIVE
01 CITY : RUMSON
STATE/ZIP : NJ 07760
MORTGAGE AMOUNT : 328,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 328,268.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,353.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030859326 MORTGAGORS: WEISZ JOHN
WEISZ VIRGINIA
REGION CODE ADDRESS : 771 WESTHOLME AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90024
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 649,563.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,769.47 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 74.28571
----------------------------------------------------------------
0 0030859342 MORTGAGORS: GOLDEN BARRY
GOLDEN CATHRYN
REGION CODE ADDRESS : 4716 CAMINITO CALMOSO
01 CITY : SAN DIEGO
STATE/ZIP : CA 92130
MORTGAGE AMOUNT : 205,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 205,104.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,543.85 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 79.96900
----------------------------------------------------------------
0 0030859391 MORTGAGORS: KITLAS PAUL
REGION CODE ADDRESS : 33901 AVENIDA CALITA
01 CITY : SAN JUAN CAPISTRANO
STATE/ZIP : CA 92675
MORTGAGE AMOUNT : 233,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,754.96 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 79.86300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,652,600.00
P & I AMT: 12,187.18
UPB AMT: 1,651,536.18
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 112
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030859490 MORTGAGORS: KRAUSE RICHARD
KRAUSE CHRISTINE
REGION CODE ADDRESS : 56 LAWRENCE ROAD
01 CITY : RANDOLPH
STATE/ZIP : NJ 07869
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,847.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,862.18 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 74.80900
----------------------------------------------------------------
0 0030859706 MORTGAGORS: WITTENBERG ERIC
WITTENBERG JANET
REGION CODE ADDRESS : LOT 17 MC AFEE FARMS
01 CITY : BEDFORD
STATE/ZIP : NH 03110
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,816.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,074.05 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 12/01/26
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 79.53500
----------------------------------------------------------------
0 0030860019 MORTGAGORS: MIQUELON MARK
MIQUELON LINDA
REGION CODE ADDRESS : 12065 CALLE CORVO
01 CITY : COLORADO SPRINGS
STATE/ZIP : CO 80926
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,846.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,803.04 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030860126 MORTGAGORS: JOHNSON JIMMY
JOHNSON MIMI
REGION CODE ADDRESS : 2715 CORTE AMATISTA
01 CITY : SAN CLEMENTE
STATE/ZIP : CA 92673
MORTGAGE AMOUNT : 550,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 550,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,035.71 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 71.42800
----------------------------------------------------------------
0 0030860134 MORTGAGORS: PATEL MANOJ
PATEL ANILA
REGION CODE ADDRESS : 5085 CARTILLA AVENUE
01 CITY : ALTO LOMA
STATE/ZIP : CA 92031
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,823.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,791.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 60.97500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,560,000.00
P & I AMT: 11,566.02
UPB AMT: 1,559,334.80
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 113
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030860209 MORTGAGORS: HANDY MARK
SEHAM GRETEL
REGION CODE ADDRESS : 35 CORNELL DRIVE
01 CITY : EAST BRUNSWICK
STATE/ZIP : NJ 08816
MORTGAGE AMOUNT : 228,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 228,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,718.53 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 89.99800
----------------------------------------------------------------
0 0030860399 MORTGAGORS: MOSER DOROTHY
RANDOLPH NANCY
REGION CODE ADDRESS : 7500 OVERLOOKED PLACE
01 CITY : ANNADALE
STATE/ZIP : VA 22003
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,846.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,803.04 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030860472 MORTGAGORS: FINLEY ELIZABETH
HOWARD RONALD
REGION CODE ADDRESS : 3385 CRAZY HORSE DRIVE
01 CITY : SIMI VALLEY
STATE/ZIP : CA 93063
MORTGAGE AMOUNT : 260,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,633.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,959.30 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030860738 MORTGAGORS: MARTIN FRANK
MARTIN RUTH
REGION CODE ADDRESS : 730 POPES VALLEY DRIVE
01 CITY : COLORADO SPRINGS
STATE/ZIP : CO 80919
MORTGAGE AMOUNT : 262,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,636.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,997.47 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030860761 MORTGAGORS: EPPERSON G
EPPERSON KATHERINE
REGION CODE ADDRESS : 1 MASTERS COURT
01 CITY : POTOMAC
STATE/ZIP : MD 20854
MORTGAGE AMOUNT : 370,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 369,745.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,682.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 71.15300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,362,350.00
P & I AMT: 10,161.10
UPB AMT: 1,361,612.68
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 114
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030860936 MORTGAGORS: MC GILVRAY MICHAEL
MC GILVRAY MARY
REGION CODE ADDRESS : 2880 KERRY DRIVE
01 CITY : SIMI VALLEY
STATE/ZIP : CA 93063
MORTGAGE AMOUNT : 228,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 228,807.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,740.19 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030861058 MORTGAGORS: HOLIDAY ALBERT
HOLIDAY CATHERINE
REGION CODE ADDRESS : 2615 D. AVE
01 CITY : ANACORTES
STATE/ZIP : WA 98221
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,798.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,286.90 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030861108 MORTGAGORS: PARKER CULVER
PARKER ELISA
REGION CODE ADDRESS : 63 TUNA PUNA LANE
01 CITY : CORONADO
STATE/ZIP : CA 92118
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,771.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,494.80 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030861116 MORTGAGORS: VAUGHT B
VAUGHT MAJORIE
REGION CODE ADDRESS : 2401 KETTERING PLACE
01 CITY : EL DORADO HILLS
STATE/ZIP : CA 95762
MORTGAGE AMOUNT : 288,660.00 OPTION TO CONVERT :
UNPAID BALANCE : 288,660.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,018.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.99900
----------------------------------------------------------------
0 0030861199 MORTGAGORS: FOOTE MORRIS
FOOTE CHERYL
REGION CODE ADDRESS : 5402 BACKLICK WOODS COURT
01 CITY : SPRINGFIELD
STATE/ZIP : VA 22151
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,777.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,524.49 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 79.13200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,505,610.00
P & I AMT: 11,064.74
UPB AMT: 1,504,815.67
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 115
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030861264 MORTGAGORS: SMITH ROBERT
SMITH JILL
REGION CODE ADDRESS : 6800 TURTLE CREEK BOULEVARD
01 CITY : UNIVERSITY PARK
STATE/ZIP : TX 75205
MORTGAGE AMOUNT : 600,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 600,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,402.59 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 52.17300
----------------------------------------------------------------
0 0030861363 MORTGAGORS: BLUM JOHN
REGION CODE ADDRESS : 9811 SCHEER COURT
01 CITY : HARRISBURG
STATE/ZIP : NC 28075
MORTGAGE AMOUNT : 262,240.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,068.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,947.13 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030861462 MORTGAGORS: RUSSELL JAMES
RUSSELL T.
REGION CODE ADDRESS : 3623 AMBER HILLS DRIVE
01 CITY : DALLAS
STATE/ZIP : TX 75287
MORTGAGE AMOUNT : 221,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 221,751.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,628.23 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 94.99600
----------------------------------------------------------------
0 0030861603 MORTGAGORS: LEWIS R.
ZUNICH KATHRYN
REGION CODE ADDRESS : 3112 N. PEARY STREET
01 CITY : ARLINGTON
STATE/ZIP : VA 22207
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,103.55 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030861652 MORTGAGORS: MC NEAL DONALD
LARSON MICHELLE
REGION CODE ADDRESS : 15 VIRGIL WALK
01 CITY : LONG BEACH
STATE/ZIP : CA 90032
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,803.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,227.50 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 52.17300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,664,140.00
P & I AMT: 12,309.00
UPB AMT: 1,663,623.30
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 116
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030861728 MORTGAGORS: VASUDEVAN SRINIVASAN
VASUDEVAN UMA
REGION CODE ADDRESS : 1222 NORTH CALLE VISTASO
01 CITY : SAN DIMAS
STATE/ZIP : CA 91773
MORTGAGE AMOUNT : 238,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,339.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,750.03 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030861793 MORTGAGORS: JEONG KWANG
WON JONG
REGION CODE ADDRESS : 949 SOUTH HIGHLAND AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90036
MORTGAGE AMOUNT : 285,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,127.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,193.72 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030861827 MORTGAGORS: FRAHM ROBERT
REGION CODE ADDRESS : 3923 ARNOLD STREET
01 CITY : HOUSTON
STATE/ZIP : TX 77005
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,832.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,834.42 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 69.44400
----------------------------------------------------------------
0 0030861868 MORTGAGORS: COX LELAND
COX CYNTHIA
REGION CODE ADDRESS : 1725 MACKENZIE DRIVE
01 CITY : CEDAR RAPIDS
STATE/ZIP : IA 52328
MORTGAGE AMOUNT : 342,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 342,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,539.35 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030861900 MORTGAGORS: VAUGHN DONALD
VAUGHN REBECCA
REGION CODE ADDRESS : 724 TOWNE LAKE DRIVE
01 CITY : MONTGOMERY
STATE/ZIP : AL 36117
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,838.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,761.04 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,355,800.00
P & I AMT: 10,078.56
UPB AMT: 1,355,138.33
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 117
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030861942 MORTGAGORS: MOSMAN KEVIN
MOSMAN CARLA
REGION CODE ADDRESS : 3101 NORTH OAKLAND STREET
01 CITY : ARLINGTON
STATE/ZIP : VA 22207
MORTGAGE AMOUNT : 234,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,834.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,676.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030862015 MORTGAGORS: BUCHMAN GEORGE
BUCHMAN CHRISTIE
REGION CODE ADDRESS : 5874 WINTEROAKS PLACE
01 CITY : FREDERICK
STATE/ZIP : MD 21701
MORTGAGE AMOUNT : 254,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,046.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,954.58 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0030862031 MORTGAGORS: CORBETT CHRISTOPHER
CORBETT REBECCA
REGION CODE ADDRESS : 7 BEECHDALE ROAD
01 CITY : BALTIMORE
STATE/ZIP : MD 21210
MORTGAGE AMOUNT : 223,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 223,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,658.74 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 79.98500
----------------------------------------------------------------
0 0030862049 MORTGAGORS: WHEELER JEFFREY
WHEELER CYNTHIA
REGION CODE ADDRESS : 1383 CROWN TERRACE
01 CITY : MARIETTA
STATE/ZIP : GA 30062
MORTGAGE AMOUNT : 227,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 227,347.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,669.32 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 89.99200
----------------------------------------------------------------
0 0030862056 MORTGAGORS: PEEL L.
PEEL DENISE
REGION CODE ADDRESS : 10400 MASTERS TERRACE
01 CITY : POTOMAC
STATE/ZIP : MD 20854
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,647.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,582.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,439,100.00
P & I AMT: 10,541.11
UPB AMT: 1,438,275.30
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 118
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030862106 MORTGAGORS: LABRUM JEFFREY
LABRUM YVONNE
REGION CODE ADDRESS : 1103 EAST KAEL STREET
01 CITY : MESA
STATE/ZIP : AZ 85023
MORTGAGE AMOUNT : 216,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 216,250.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,586.77 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 94.98400
----------------------------------------------------------------
0 0030862239 MORTGAGORS: BJORNSON TORLEIF
BJORNSON CELESTE
REGION CODE ADDRESS : 7030 DANIEL COURT
01 CITY : GILROY
STATE/ZIP : CA 95020
MORTGAGE AMOUNT : 286,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,012.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,125.03 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030862361 MORTGAGORS: GERVAIS LAWRENCE
GERVAIS SUSAN
REGION CODE ADDRESS : 1908 ELMORE AVENUE
01 CITY : DOWNERS GROVE
STATE/ZIP : IL 60515
MORTGAGE AMOUNT : 382,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 382,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,873.60 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030862403 MORTGAGORS: JOHNSON KERRY
JOHNSON LISA
REGION CODE ADDRESS : 530 COTTONWOOD PL.
01 CITY : FAIRVIEW
STATE/ZIP : TX 75069
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,972.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030862668 MORTGAGORS: SCHOOLEY DAN
SCHOOLEY PEGGY
REGION CODE ADDRESS : 370 STERNS ROAD
01 CITY : MARLBOROUGH
STATE/ZIP : MA 01752
MORTGAGE AMOUNT : 280,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,060.41 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,437,750.00
P & I AMT: 10,618.00
UPB AMT: 1,437,562.78
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 119
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030862684 MORTGAGORS: KOZIN MARC
KOZIN DONNA
REGION CODE ADDRESS : 40 ROBINSON ROAD
01 CITY : LEXINGTON
STATE/ZIP : MA 02173
MORTGAGE AMOUNT : 585,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 584,587.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,191.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 74.52200
----------------------------------------------------------------
0 0030862734 MORTGAGORS: DANGERFIELD H.
ROOT LAURIE
REGION CODE ADDRESS : 67 RUTHERFORD CIRCLE
01 CITY : STERLING
STATE/ZIP : VA 20165
MORTGAGE AMOUNT : 233,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,435.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,673.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030862742 MORTGAGORS: LEWULLIS ROBERT
LEWULLIS SANDRA
REGION CODE ADDRESS : 4014 WOOD DRIVE
01 CITY : WALNUTPORT
STATE/ZIP : PA 18088
MORTGAGE AMOUNT : 120,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 120,315.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 862.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 92.68600
----------------------------------------------------------------
0 0030862759 MORTGAGORS: GLASGOW ROBERT
GLASGOW BRONWYN
REGION CODE ADDRESS : 46958 FAIRHILLS COURT
01 CITY : STERLING
STATE/ZIP : VA 20165
MORTGAGE AMOUNT : 231,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 231,459.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,780.81 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030862767 MORTGAGORS: FOSTER PARRAN
REGION CODE ADDRESS : 8650 COURTNEY DRIVE
01 CITY : WALDORF
STATE/ZIP : MD 20603
MORTGAGE AMOUNT : 230,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 230,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,687.66 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 73.01500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,400,600.00
P & I AMT: 10,195.59
UPB AMT: 1,399,796.94
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 120
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030862783 MORTGAGORS: SLAVKIN STEVEN
SLAVKIN NANCY
REGION CODE ADDRESS : 524 DRYAD ROAD
01 CITY : LOS ANGELES
STATE/ZIP : CA 90402
MORTGAGE AMOUNT : 416,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 415,720.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,052.47 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030862809 MORTGAGORS: GARCIA PAUL
GARCIA BLANCA
REGION CODE ADDRESS : 315 BOX OAK
01 CITY : SAN ANTONIO
STATE/ZIP : TX 78230
MORTGAGE AMOUNT : 437,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 437,663.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,251.77 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
0 0030862866 MORTGAGORS: KRUM KEVIN
KRUM KATHLEEN
REGION CODE ADDRESS : 50 CONIFER DR.
01 CITY : EVERGREEN
STATE/ZIP : CO 80439
MORTGAGE AMOUNT : 242,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,754.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 71.81000
----------------------------------------------------------------
0 0030862916 MORTGAGORS: NOYES PHILIP
REGION CODE ADDRESS : 1205 W CONWAY DRIVE
01 CITY : ATLANTA
STATE/ZIP : GA 30327
MORTGAGE AMOUNT : 600,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 599,597.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,402.59 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 70.58800
----------------------------------------------------------------
0 0030862957 MORTGAGORS: CAMPANERO GREGORY
CAMPANERO ROBERTA
REGION CODE ADDRESS : 16 HALBRIGHT COURT
01 CITY : TIMONIUM
STATE/ZIP : MD 21093
MORTGAGE AMOUNT : 243,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,846.98 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,938,950.00
P & I AMT: 14,308.48
UPB AMT: 1,937,981.79
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 121
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030862973 MORTGAGORS: KUO TERRY
TRAN ANH
REGION CODE ADDRESS : 29 WHISPERING PINES
01 CITY : IRVINE
STATE/ZIP : CA 92720
MORTGAGE AMOUNT : 242,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,437.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,780.12 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 89.88500
----------------------------------------------------------------
0 0030862999 MORTGAGORS: DUTTON WARD
DUTTON LORI
REGION CODE ADDRESS : 9 SEGADA
01 CITY : RANCHO SANTA MARGARITA
STATE/ZIP : CA 92688
MORTGAGE AMOUNT : 286,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,197.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,051.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030863294 MORTGAGORS: GIORDANO ANNETTE
CONKLING PETER
REGION CODE ADDRESS : 112 WOODCLIFF BOULEVARD
01 CITY : MARLBORO
STATE/ZIP : NJ 07751
MORTGAGE AMOUNT : 256,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,927.00 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 89.91600
----------------------------------------------------------------
0 0030863351 MORTGAGORS: ABKEMEIER LAURIE
ABKEMEIER KURT
REGION CODE ADDRESS : 46 ROWAN ROAD
01 CITY : SUMMIT
STATE/ZIP : NJ 07901
MORTGAGE AMOUNT : 584,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 584,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,438.82 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030863591 MORTGAGORS: TAYLOR TERRY
TAYLOR SUSAN
REGION CODE ADDRESS : 4812 CRANBROOK DRIVE WEST
01 CITY : COLLEYVILLE
STATE/ZIP : TX 76034
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,758.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,641.56 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,729,500.00
P & I AMT: 12,839.30
UPB AMT: 1,728,893.52
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 122
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030863641 MORTGAGORS: CHOE JONG
REGION CODE ADDRESS : 11663 MONOGRAM AVENUE
01 CITY : GRANADA HILLS
STATE/ZIP : CA 91344
MORTGAGE AMOUNT : 168,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 167,995.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,277.68 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 94.97100
----------------------------------------------------------------
0 0030863740 MORTGAGORS: HARTMAN JOHN
HARTMAN ANGELA
REGION CODE ADDRESS : 7846 JOHN WAYNE LANE
01 CITY : VACAVILLE
STATE/ZIP : CA 95688
MORTGAGE AMOUNT : 239,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,017.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,652.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030863799 MORTGAGORS: MEEKS DEREK
MEEKS LISA
REGION CODE ADDRESS : 53 PHEASANT RIDGE DRIVE
01 CITY : HENDERSON
STATE/ZIP : NV 89014
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 315,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,478.11 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030863815 MORTGAGORS: VOGT THOMAS
VOGT SUSAN
REGION CODE ADDRESS : 9725 GAVIN STONE AVENUE
01 CITY : LAS VEGAS
STATE/ZIP : NV 89128
MORTGAGE AMOUNT : 393,772.00 OPTION TO CONVERT :
UNPAID BALANCE : 393,501.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,855.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 89.99900
----------------------------------------------------------------
0 0030864003 MORTGAGORS: ANDERSON G
ANDERSON CHRISTINE
REGION CODE ADDRESS : 162 OLD GANNETT ROAD
01 CITY : SCITUATE
STATE/ZIP : MA 02066
MORTGAGE AMOUNT : 230,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 230,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,647.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 77.96600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,346,072.00
P & I AMT: 9,910.76
UPB AMT: 1,345,514.51
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 123
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030864060 MORTGAGORS: TELANDER THOMAS
REGION CODE ADDRESS : 4817 94 STREET W
01 CITY : BLOOMINGTON
STATE/ZIP : MN 55437
MORTGAGE AMOUNT : 263,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,954.26 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030864144 MORTGAGORS: CUNLIFFE STEPHEN
CUNLIFFE ROBIN
REGION CODE ADDRESS : 5572 LINEA DEL CIELO
01 CITY : RANCHO SANTA FE
STATE/ZIP : CA 92067
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 649,595.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,940.47 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 69.89200
----------------------------------------------------------------
0 0030864169 MORTGAGORS: NEWMAN RICHARD
NEWMAN LILLIAN
REGION CODE ADDRESS : 12130 EAST MOUNTAIN VIEW ROAD
01 CITY : SCOTTSDALE
STATE/ZIP : AZ 85259
MORTGAGE AMOUNT : 251,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,585.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,869.24 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030864367 MORTGAGORS: ARMSTRONG DAVID
ARMSTRONG KAREN
REGION CODE ADDRESS : 3 BLUE FOX COURT
01 CITY : LITTLETON
STATE/ZIP : CO 80127
MORTGAGE AMOUNT : 390,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 390,344.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,900.20 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030864375 MORTGAGORS: EVANS CHRISTOPHER
REGION CODE ADDRESS : 1617 AUBURN AVENUE
01 CITY : ROCKVILLE
STATE/ZIP : MD 20850
MORTGAGE AMOUNT : 232,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 232,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,682.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,787,550.00
P & I AMT: 13,346.34
UPB AMT: 1,786,725.80
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 124
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030864656 MORTGAGORS: AKKOR DENIZ ZIYA
AKKOR AYSE GUL
REGION CODE ADDRESS : 6704 DONEGAN COURT
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22315
MORTGAGE AMOUNT : 293,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,793.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,099.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.18900
----------------------------------------------------------------
0 0030864664 MORTGAGORS: PROCTOR JAMES
PROCTOR LORI
REGION CODE ADDRESS : 918 ALKIRE LAKE DRIVE
01 CITY : SUGAR LAND
STATE/ZIP : TX 77478
MORTGAGE AMOUNT : 440,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 439,726.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,344.32 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030865158 MORTGAGORS: GURROLA RAFAEL
GURROLA DORA
REGION CODE ADDRESS : 554 BALSAM AVENUE
01 CITY : SUNNYVALE
STATE/ZIP : CA 94086
MORTGAGE AMOUNT : 229,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 229,900.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,808.62 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030865448 MORTGAGORS: BRANDES BENJAMIN
BRANDES ROBIN
REGION CODE ADDRESS : 12 THORNY LEA ROAD
01 CITY : SHARON
STATE/ZIP : MA 02067
MORTGAGE AMOUNT : 321,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 321,572.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,305.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.99800
----------------------------------------------------------------
0 0030865505 MORTGAGORS: CHIPPS JON
REGION CODE ADDRESS : 411 GRENELEFE COURT
01 CITY : HOLLAND
STATE/ZIP : OH 43528
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,832.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,834.42 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 62.50000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,534,700.00
P & I AMT: 11,391.86
UPB AMT: 1,533,824.84
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 125
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030865554 MORTGAGORS: CUMMINGS L.M.
CUMMINGS SHARON
REGION CODE ADDRESS : 2815 CORTE ESMERALDA
01 CITY : SAN CLEMENTE
STATE/ZIP : CA 92673
MORTGAGE AMOUNT : 440,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 439,712.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,266.99 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030865588 MORTGAGORS: MC BRIDE MICHAEL
MC BRIDE LINDA
REGION CODE ADDRESS : 5203 CROWN AVENUE
01 CITY : LA CANADA
STATE/ZIP : CA 91011
MORTGAGE AMOUNT : 273,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,984.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030865901 MORTGAGORS: BREWER RAYMOND
BREWER PATRICIA
REGION CODE ADDRESS : 9614 PIPECREEK STREET
01 CITY : SAN ANTONIO
STATE/ZIP : TX 78251
MORTGAGE AMOUNT : 309,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,502.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,326.68 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 94.99200
----------------------------------------------------------------
0 0030865992 MORTGAGORS: LASLEY JUDY
LASLEY MICHAEL
REGION CODE ADDRESS : 6402 WOOD POINTE DRIVE
01 CITY : GLENN DALE
STATE/ZIP : MD 20769
MORTGAGE AMOUNT : 227,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 227,105.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,707.25 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 89.85700
----------------------------------------------------------------
0 0030866107 MORTGAGORS: NOEL MARCELLA
REGION CODE ADDRESS : 6257 HARBIN DRIVE
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22310
MORTGAGE AMOUNT : 217,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 217,404.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,596.30 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,468,250.00
P & I AMT: 10,882.10
UPB AMT: 1,467,473.81
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 126
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030866156 MORTGAGORS: MAGARELLI PAUL
MAGARELLI JUDITH
REGION CODE ADDRESS : 10300 NORTH TOMAHAWK ROAD
01 CITY : PARKER
STATE/ZIP : CO 80134
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,793.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,175.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 89.74400
----------------------------------------------------------------
0 0030866198 MORTGAGORS: FITZGERALD JOHN
FITZGERALD KIMBERLY
REGION CODE ADDRESS : 468 W. HONEY CREEK ROAD
01 CITY : TOWN OF EAST TROU
STATE/ZIP : WI 53105
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,083.90 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030866214 MORTGAGORS: MCGOWAN MICHAEL
MCGOWAN RACHEL
REGION CODE ADDRESS : 5 MERRIMACK RIVER ROAD
01 CITY : GROVELAND
STATE/ZIP : MA 01834
MORTGAGE AMOUNT : 232,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 232,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,682.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030866388 MORTGAGORS: CHEN ERIC
CHEN SAMANTHA
REGION CODE ADDRESS : 12255 SARAGLEN DRIVE
01 CITY : SARATOGA
STATE/ZIP : CA 95070
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,419.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,831.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 68.96551
----------------------------------------------------------------
0 0030866412 MORTGAGORS: SELEZNOW ERIC
SELEZNOW MADELINE
REGION CODE ADDRESS : 13400 FAIRLAND PARK DRIVE
01 CITY : SILVER SPRING
STATE/ZIP : MD 20904
MORTGAGE AMOUNT : 308,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 308,492.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,265.14 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,524,700.00
P & I AMT: 11,037.59
UPB AMT: 1,523,705.54
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 127
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030866560 MORTGAGORS: PUGSLEY KENNETH
HENSON-PUGSLEY SINDIE
REGION CODE ADDRESS : 1342 DISCOVERY BAY BLVD
01 CITY : DISCOVERY BAY
STATE/ZIP : CA 94514
MORTGAGE AMOUNT : 274,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,379.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,086.78 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030866677 MORTGAGORS: BOLINE GLEN
BOLINE KATHRYN
REGION CODE ADDRESS : 8825 NORTH FLINT WAY
01 CITY : PARK CITY
STATE/ZIP : UT 84098
MORTGAGE AMOUNT : 265,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,826.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,967.62 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 54.08100
----------------------------------------------------------------
0 0030866693 MORTGAGORS: WILLCUTTS MICHAEL
WILLCUTTS KAREN
REGION CODE ADDRESS : 2222 CLEAR SPRING DRIVE N.
01 CITY : IRVING
STATE/ZIP : TX 75063
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,788.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,584.25 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030866735 MORTGAGORS: HARPER JAMES
HARPER JUDY
REGION CODE ADDRESS : 820 HIGHLAND BEND COVE
01 CITY : ALPHARETTA
STATE/ZIP : GA 30202
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,822.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,937.14 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 77.87600
----------------------------------------------------------------
0 0030866859 MORTGAGORS: CODOMO LAURI
CODOMO MIKE
REGION CODE ADDRESS : 5226 NW VILLAGE PARK DR
01 CITY : ISSAQUAH
STATE/ZIP : WA 98027
MORTGAGE AMOUNT : 281,590.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,016.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,165.18 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 10/01/26
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 79.99716
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,425,140.00
P & I AMT: 10,740.97
UPB AMT: 1,423,833.72
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 128
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030867089 MORTGAGORS: WILSON NORMAN
WILSON JOAN
REGION CODE ADDRESS : 11280 W JEWELL DRIVE
01 CITY : LAKEWOOD
STATE/ZIP : CO 80227
MORTGAGE AMOUNT : 217,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 217,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,612.71 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030867097 MORTGAGORS: BARTLEY GEORGE
BARTLEY EVA
REGION CODE ADDRESS : 112 GRANBERRY WAY
01 CITY : MADISON
STATE/ZIP : MS 39110
MORTGAGE AMOUNT : 227,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 227,108.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,727.26 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030867196 MORTGAGORS: WYLLIE ROBERT
WYLLIE JAYNE
REGION CODE ADDRESS : 10143 EAST RISING SUN PLACE
01 CITY : GOLD CANYON
STATE/ZIP : AZ 85219
MORTGAGE AMOUNT : 220,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 220,350.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,655.42 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 94.98800
----------------------------------------------------------------
0 0030867212 MORTGAGORS: DANIELS JEFFREY
DANIELS SHARON
REGION CODE ADDRESS : 11050 STEWART MILL ROAD
01 CITY : OAKTON
STATE/ZIP : VA 22124
MORTGAGE AMOUNT : 225,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 225,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,670.62 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030867345 MORTGAGORS: SATO SCOTT
SATO SIMONE
REGION CODE ADDRESS : 723-725 BALBOA COURT
01 CITY : SAN DIEGO
STATE/ZIP : CA 92109
MORTGAGE AMOUNT : 385,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 384,954.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,893.88 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,275,000.00
P & I AMT: 9,559.89
UPB AMT: 1,274,613.13
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 129
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030867386 MORTGAGORS: KEGEL MARK
KEGEL PATRICIA
REGION CODE ADDRESS : 1 AUBURN STREET
01 CITY : CONCORD
STATE/ZIP : NH 03301
MORTGAGE AMOUNT : 292,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,318.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,223.21 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030867451 MORTGAGORS: CHASE PETER
ATMAN BECKY
REGION CODE ADDRESS : 952 REDDINGTON COURT
01 CITY : WALNUT CREEK
STATE/ZIP : CA 94596
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,893.37 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 76.11900
----------------------------------------------------------------
0 0030867576 MORTGAGORS: ROTHWELL J
ROTHWELL LOU ANN
REGION CODE ADDRESS : 6905 W. GRANDADA DRIVE
01 CITY : PALMSDALE
STATE/ZIP : CA 93551
MORTGAGE AMOUNT : 233,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,700.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,714.81 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030867618 MORTGAGORS: FLEWELLING JERRY
FLEWELLING DONNA
REGION CODE ADDRESS : 3021 MARNA AVENUE
01 CITY : LONG BEACH
STATE/ZIP : CA 90808
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,836.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,076.07 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030867634 MORTGAGORS: LOPEZ HECTOR
LOPEZ NORMA
REGION CODE ADDRESS : 3272 POMERADO DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95135
MORTGAGE AMOUNT : 274,835.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,672.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,137.64 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 94.98850
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,326,035.00
P & I AMT: 10,045.10
UPB AMT: 1,325,527.37
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 130
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030867675 MORTGAGORS: MINAHAN MARK
MINAHAN BRENDA
REGION CODE ADDRESS : 8013 VILLEFRANCHE
01 CITY : CORPUS CHRISTI
STATE/ZIP : TX 78414
MORTGAGE AMOUNT : 227,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 227,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,669.31 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 69.46500
----------------------------------------------------------------
0 0030867808 MORTGAGORS: ADAMS MARY
VISSER PIET
REGION CODE ADDRESS : 5265 LAWTON AVE.
01 CITY : OAKLAND
STATE/ZIP : CA 94618
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,831.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,776.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 56.98300
----------------------------------------------------------------
0 0030867857 MORTGAGORS: CORBALIS LEO
CORBALIS BARBARA
REGION CODE ADDRESS : 4952 NEW WORLD DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95136
MORTGAGE AMOUNT : 238,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,705.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 73.00600
----------------------------------------------------------------
0 0030867907 MORTGAGORS: DEL NIDO PEDRO
DEL NIDO MARTHA
REGION CODE ADDRESS : 9 HERITAGE DRIVE
01 CITY : LEXINGTON
STATE/ZIP : MA 02173
MORTGAGE AMOUNT : 474,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 474,700.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,566.26 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 71.16900
----------------------------------------------------------------
0 0030867972 MORTGAGORS: HEWITT STANLEY
HEWITT DEBORAH
REGION CODE ADDRESS : 167 NORTH TAYLOR POINT DRIVE
01 CITY : THE WOODLANDS
STATE/ZIP : TX 77382
MORTGAGE AMOUNT : 325,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 325,100.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,385.47 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.99500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,510,300.00
P & I AMT: 11,102.52
UPB AMT: 1,510,131.38
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 131
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030867980 MORTGAGORS: CUTLER ROBIN
NGUYEN HOAN
REGION CODE ADDRESS : 621 SALT LAKE DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95133
MORTGAGE AMOUNT : 248,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,888.02 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030868004 MORTGAGORS: DENNY KEVIN
THOMAS CHARLES
REGION CODE ADDRESS : 203 SILVER FOX LANE
01 CITY : DOWNINGTOWN
STATE/ZIP : PA 19335
MORTGAGE AMOUNT : 224,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 224,649.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,649.50 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030868178 MORTGAGORS: THOMPSON JEFFREY
THOMPSON MELANIE
REGION CODE ADDRESS : SMOTHERS RD
01 CITY : WESTERVILLE
STATE/ZIP : OH 43082
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,834.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,998.10 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/26
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 66.39656
----------------------------------------------------------------
0 0030868186 MORTGAGORS: BERNDT EUGENE
MCGUIGAN COLLEEN
REGION CODE ADDRESS : 1701 MONTAFIA LANE
01 CITY : VIENNA
STATE/ZIP : VA 22182
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,752.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,610.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030868244 MORTGAGORS: DALTNER JOHN
DALTNER CECILIA
REGION CODE ADDRESS : 3325 HARNESS CREEK
01 CITY : ANNAPOLIS
STATE/ZIP : MD 21403
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,771.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,598.74 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 57.37700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,438,200.00
P & I AMT: 10,744.61
UPB AMT: 1,437,407.17
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 132
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030868301 MORTGAGORS: SHOHAN NAOMI
REGION CODE ADDRESS : 1378 APPLETON WAY
01 CITY : LOS ANGELES
STATE/ZIP : CA 90291
MORTGAGE AMOUNT : 262,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,819.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,899.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 68.49600
----------------------------------------------------------------
0 0030868368 MORTGAGORS: WILDFEUER HERBERT
WILDFEUER MARIA
REGION CODE ADDRESS : 3107 LUCINDA LANE
01 CITY : SANTA BARBARA
STATE/ZIP : CA 93105
MORTGAGE AMOUNT : 282,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,069.22 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 75.20000
----------------------------------------------------------------
0 0030868418 MORTGAGORS: PHELPS DAVID
PHELPS ALISON
REGION CODE ADDRESS : 9910 JULLIARD DR
01 CITY : BETHESDA
STATE/ZIP : MD 20817
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,817.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,995.84 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030868632 MORTGAGORS: CASTILLO CERAFIN
CASTILLO DIANE
REGION CODE ADDRESS : 1732 MORGAN STREET
01 CITY : MOUNTAIN VIEW
STATE/ZIP : CA 94043
MORTGAGE AMOUNT : 232,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 231,848.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,722.59 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030868657 MORTGAGORS: LOWENHAR EDWARD
LOWENHAR SANDRA
REGION CODE ADDRESS : 29 LIVINGSTON DRIVE
01 CITY : MONTGOMERY TOWNSDHIP
STATE/ZIP : NJ 08502
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,846.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,022.26 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 89.65500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,308,000.00
P & I AMT: 9,709.60
UPB AMT: 1,307,331.91
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 133
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030868707 MORTGAGORS: VON KOCH TASSILO
VON KOCH ANITA
REGION CODE ADDRESS : 28 SANTA CLARA
01 CITY : SAN CLEMENTE
STATE/ZIP : CA 92672
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,847.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,937.66 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030868715 MORTGAGORS: SELCHOW STEVEN
SELCHOW KATHRYN
REGION CODE ADDRESS : 13710 DUNBAR WAY
01 CITY : APPLE VALLEY
STATE/ZIP : MN 55124
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,019.60 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030868723 MORTGAGORS: LARKIN JOHN
LARKIN ALISON
REGION CODE ADDRESS : 3225 SO SHORE DRIVE
01 CITY : DELAVAN
STATE/ZIP : WI 53115
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,280.22 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 47.43000
----------------------------------------------------------------
0 0030868731 MORTGAGORS: GRUBER KELLY
GRUBER TOSCA
REGION CODE ADDRESS : 8301 TYNDALE COVE
01 CITY : AUSTIN
STATE/ZIP : TX 78733
MORTGAGE AMOUNT : 495,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 495,517.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,638.38 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.99774
----------------------------------------------------------------
0 0030868749 MORTGAGORS: HEUBUSCH JOHN
REGION CODE ADDRESS : 1014 WILHELM DRIVE
01 CITY : GREAT FALLS
STATE/ZIP : VA 22066
MORTGAGE AMOUNT : 396,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 395,734.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,905.71 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,715,850.00
P & I AMT: 12,781.57
UPB AMT: 1,715,098.92
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 134
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030868764 MORTGAGORS: TREIBER LAWRENCE
TREIBER VENIS
REGION CODE ADDRESS : 4617 EAST 100TH STREET
01 CITY : TULSA
STATE/ZIP : OK 74137
MORTGAGE AMOUNT : 290,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,509.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,158.44 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030868806 MORTGAGORS: BANGHART ALLAN
CHRISTOPHERSON RUTH
REGION CODE ADDRESS : 15 CHARISMA DRIVE
01 CITY : CAMP HILL
STATE/ZIP : PA 17011
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,838.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,761.04 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030868814 MORTGAGORS: BENSON RAY
BENSON JODI
REGION CODE ADDRESS : 10935 ALTA VIEW DRIVE
01 CITY : LOS ANGELES
STATE/ZIP : CA 91604
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,760.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,435.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030868954 MORTGAGORS: SHAH DINESH
SHAH NEENA
REGION CODE ADDRESS : 2549 GINGER WREN ROAD
01 CITY : PEPPER PIKE
STATE/ZIP : OH 44124
MORTGAGE AMOUNT : 516,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 515,662.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,831.29 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030869036 MORTGAGORS: BOTTEMANNE A.
DEBOLT MELISSA
REGION CODE ADDRESS : 12 BLOSSOM WAY
01 CITY : SCOTTS VALLEY
STATE/ZIP : CA 95066
MORTGAGE AMOUNT : 432,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 431,687.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,057.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,818,700.00
P & I AMT: 13,244.25
UPB AMT: 1,817,458.61
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 135
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030869069 MORTGAGORS: ANDERSON WILLIAM
ANDERSON CATHERINE
REGION CODE ADDRESS : 10825 SPLIT RAIL DRIVE
01 CITY : MANASSAS
STATE/ZIP : VA 20112
MORTGAGE AMOUNT : 236,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,083.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,692.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030869077 MORTGAGORS: DOWLING TWILA
REGION CODE ADDRESS : 304 LINCOLN STREET
01 CITY : BERKELEY HEIGHTS
STATE/ZIP : NJ 07922
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,067.40 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 78.02000
----------------------------------------------------------------
0 0030869085 MORTGAGORS: DORAN JAMES
DORAN MICHELLE
REGION CODE ADDRESS : 14 HASTINGS DRIVE
01 CITY : CARTERSVILLE
STATE/ZIP : GA 30120
MORTGAGE AMOUNT : 271,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,426.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,040.44 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 94.98600
----------------------------------------------------------------
0 0030869168 MORTGAGORS: MCGINNIS CECIL
MCGINNIS KAY
REGION CODE ADDRESS : 17241 EAST DORADO PLACE
01 CITY : AURORA
STATE/ZIP : CO 80015
MORTGAGE AMOUNT : 248,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,649.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,913.06 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 87.29800
----------------------------------------------------------------
0 0030869200 MORTGAGORS: THOMPSON DAVID
THOMPSON KAREN
REGION CODE ADDRESS : 1120 CURRY LANE
01 CITY : KEY WEST
STATE/ZIP : FL 33040
MORTGAGE AMOUNT : 260,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,900.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,006.10 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 89.99600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,289,550.00
P & I AMT: 9,719.52
UPB AMT: 1,289,059.34
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 136
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030869218 MORTGAGORS: MC GRATH KATHLEEN
REGION CODE ADDRESS : 1365 CORDILLERAS AVENUE
01 CITY : SAN CARLOS
STATE/ZIP : CA 94070
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,826.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,043.45 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030869267 MORTGAGORS: I CHIAN-SHAN
YAN QI-YI
REGION CODE ADDRESS : 1132 MASSACHUSETTES AVENUE
01 CITY : LEXINGTON
STATE/ZIP : MA 02173
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,848.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 66.57900
----------------------------------------------------------------
0 0030869333 MORTGAGORS: BELANGER JOSEPH
BELANGER HELEN
REGION CODE ADDRESS : 4601 BIT & SPUR RD
01 CITY : MOBILE
STATE/ZIP : AL 36608
MORTGAGE AMOUNT : 286,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,803.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,073.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 67.29400
----------------------------------------------------------------
0 0030869341 MORTGAGORS: POTTIE GREGORY
REGION CODE ADDRESS : 12548 BROOKLAKE STREET
01 CITY : LOS ANGELES
STATE/ZIP : CA 90066
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,835.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,871.09 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030869416 MORTGAGORS: DELLA SALA LAURA
REGION CODE ADDRESS : 519 CALIFORNIA AVENUE #301
01 CITY : SANTA MONICA
STATE/ZIP : CA 90403
MORTGAGE AMOUNT : 221,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 221,455.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,645.37 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,286,600.00
P & I AMT: 9,482.54
UPB AMT: 1,285,919.94
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 137
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030869564 MORTGAGORS: LA FEVER JOHN
LA FEVER CHRISTINE
REGION CODE ADDRESS : 710 RIVIERA DRIVE
01 CITY : HOLLISTER
STATE/ZIP : CA 95023
MORTGAGE AMOUNT : 183,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 183,423.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,330.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 89.97900
----------------------------------------------------------------
0 0030869770 MORTGAGORS: DONALDSON ROBERT
DONALDSON JENNY
REGION CODE ADDRESS : 11682 SCRIPPS CREEK
01 CITY : SAN DIEGO
STATE/ZIP : CA 92131
MORTGAGE AMOUNT : 257,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,923.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,864.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 79.97900
----------------------------------------------------------------
0 0030869788 MORTGAGORS: FAUST RICHARD
FAUST CATHERINE
REGION CODE ADDRESS : 8784 CLASSIC DRIVE
01 CITY : MEMPHIS
STATE/ZIP : TN 38125
MORTGAGE AMOUNT : 326,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 325,786.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,420.54 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 79.90100
----------------------------------------------------------------
0 0030869796 MORTGAGORS: SPARKS GARY
SPARKS TRUDY
REGION CODE ADDRESS : 32681 DEERHOLLOW CIRCLE
01 CITY : TRABUCO CANYON
STATE/ZIP : CA 92679
MORTGAGE AMOUNT : 222,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 222,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,634.47 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 74.25000
----------------------------------------------------------------
0 0030869846 MORTGAGORS: ADLAM EDWIN
ADLAM PATRICIA
REGION CODE ADDRESS : 11652 SOUTH WARPAINT DRIVE
01 CITY : PHOENIX
STATE/ZIP : AZ 85044
MORTGAGE AMOUNT : 266,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,471.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,956.59 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,256,050.00
P & I AMT: 9,206.63
UPB AMT: 1,255,354.56
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 138
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030869861 MORTGAGORS: SELINGER CHAIM
SELINGER MAY
REGION CODE ADDRESS : 963 FALMOUTH STREET
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91364
MORTGAGE AMOUNT : 235,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,046.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,746.35 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030869879 MORTGAGORS: LEBAHN GREG
LEBAHN DIANNE
REGION CODE ADDRESS : 615 MELLO OAK
01 CITY : SAN ANTONIO
STATE/ZIP : TX 78258
MORTGAGE AMOUNT : 157,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 157,491.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,142.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030870000 MORTGAGORS: OSUNA BERNARDO
REGION CODE ADDRESS : 22330 MEYLER STREET #50
01 CITY : TORRANCE
STATE/ZIP : CA 90502
MORTGAGE AMOUNT : 247,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,846.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,877.38 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030870091 MORTGAGORS: DONIGER SHEPARD
TILLEM-DONIGER LESLIE
REGION CODE ADDRESS : 4 THE SPUR
01 CITY : ROSLYN ESTATES
STATE/ZIP : NY 11576
MORTGAGE AMOUNT : 525,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 524,690.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,083.40 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 69.07800
----------------------------------------------------------------
0 0030870117 MORTGAGORS: KENNEDY STEPHEN
KENNEDY KELLY
REGION CODE ADDRESS : 3418 E DENNY WAY
01 CITY : SEATTLE
STATE/ZIP : WA 98122
MORTGAGE AMOUNT : 279,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,412.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,051.61 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,444,400.00
P & I AMT: 10,901.45
UPB AMT: 1,443,486.60
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 139
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030870257 MORTGAGORS: BROVER HOWARD
GIRAMS SHEILA
REGION CODE ADDRESS : 205 KENILWORTH ROAD
01 CITY : RIDGEWOOD
STATE/ZIP : NJ 07450
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,871.10 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 65.38400
----------------------------------------------------------------
0 0030870646 MORTGAGORS: MOREL MARK
REGION CODE ADDRESS : 135 BOLLING ROAD
01 CITY : ATLANTA
STATE/ZIP : GA 30305
MORTGAGE AMOUNT : 371,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 371,350.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,726.67 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030870661 MORTGAGORS: MEYER KEITH
MEYER JONI
REGION CODE ADDRESS : 2256 BIG BEND DR.
01 CITY : CARROLLTON
STATE/ZIP : TX 75007
MORTGAGE AMOUNT : 86,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 86,793.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 644.86 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030870703 MORTGAGORS: ALVAREZ DAVID
ALVAREZ TERESA
REGION CODE ADDRESS : 933 HEMLOCK AVENUE
01 CITY : S.SAN FRANCISCO
STATE/ZIP : CA 94080
MORTGAGE AMOUNT : 229,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 229,900.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,707.00 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030870935 MORTGAGORS: SANDOVAL ALFONSO
REGION CODE ADDRESS : 2231 COUNTRY CLUB DRIVE
01 CITY : GLENDORA
STATE/ZIP : CA 91741
MORTGAGE AMOUNT : 240,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,200.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,826.83 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,183,700.00
P & I AMT: 8,776.46
UPB AMT: 1,183,244.46
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 140
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030870968 MORTGAGORS: SMITH EDWIN
SMITH ALMA
REGION CODE ADDRESS : 154 LOCKSLEY ROAD
01 CITY : THORNBURY TOWNSHIP
STATE/ZIP : PA 19342
MORTGAGE AMOUNT : 102,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 101,946.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 848.80 OUTSIDE CONV DATE :
LIFETIME RATE : 9.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.37500 PRODUCT CODE : 002
LTV : 65.00000
----------------------------------------------------------------
0 0030871024 MORTGAGORS: HOPPER PATRICIA
REGION CODE ADDRESS : 2244 COPPERSMITH SQUARE
01 CITY : RESTON
STATE/ZIP : VA 20191
MORTGAGE AMOUNT : 90,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 90,857.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 756.48 OUTSIDE CONV DATE :
LIFETIME RATE : 9.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.37500 PRODUCT CODE : 002
LTV : 79.08600
----------------------------------------------------------------
0 0030871065 MORTGAGORS: SHIFFMAN GARY
COLANTINO-SHIFFMAN VIVIAN
REGION CODE ADDRESS : 598 ELM AVENUE
01 CITY : RIDGEFIELD
STATE/ZIP : NJ 07657
MORTGAGE AMOUNT : 176,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 175,807.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,416.14 OUTSIDE CONV DATE :
LIFETIME RATE : 9.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030871107 MORTGAGORS: KIM CHIK
KIM PAN
REGION CODE ADDRESS : 4216 HOPSON DRIVE
01 CITY : RALEIGH
STATE/ZIP : NC 27604
MORTGAGE AMOUNT : 106,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 106,486.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 867.33 OUTSIDE CONV DATE :
LIFETIME RATE : 9.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030871305 MORTGAGORS: FIGUOLINO THOMAS
FIGUOLINO CAROLYNE
REGION CODE ADDRESS : 8352 S. PENINSULA DRIVE
01 CITY : LITTLETON
STATE/ZIP : CO 80120
MORTGAGE AMOUNT : 125,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 124,918.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 928.13 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 39.87700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 600,600.00
P & I AMT: 4,816.88
UPB AMT: 600,015.63
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 141
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030871313 MORTGAGORS: AQUINO KATHLEEN
REGION CODE ADDRESS : 282 HAMILTON PLACE
01 CITY : HACKENSACK
STATE/ZIP : NJ 07601
MORTGAGE AMOUNT : 85,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 84,920.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 730.28 OUTSIDE CONV DATE :
LIFETIME RATE : 9.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.75000 PRODUCT CODE : 002
LTV : 50.00000
----------------------------------------------------------------
0 0030871339 MORTGAGORS: REYNOLDS MAVIS
REGION CODE ADDRESS : 1580 NE 154TH STREET
01 CITY : NORTH MIAMI BEACH
STATE/ZIP : FL 33162
MORTGAGE AMOUNT : 52,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 51,951.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 446.76 OUTSIDE CONV DATE :
LIFETIME RATE : 9.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.75000 PRODUCT CODE : 002
LTV : 74.28500
----------------------------------------------------------------
0 0030871453 MORTGAGORS: PILOT EUGENE
OWENDOFF JUDITH
REGION CODE ADDRESS : 161 WOODLAND MANOR DRIVE
01 CITY : TINTON FALLS
STATE/ZIP : NJ 07724
MORTGAGE AMOUNT : 184,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 183,823.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,563.98 OUTSIDE CONV DATE :
LIFETIME RATE : 9.62500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030871487 MORTGAGORS: HARTMAN PETER
HARTMAN SUNDRA
REGION CODE ADDRESS : 30206 HILLSIDE TERRACE
01 CITY : SAN JUAN CAPISTRANO
STATE/ZIP : CA 92675
MORTGAGE AMOUNT : 381,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 381,323.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,700.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030871495 MORTGAGORS: CANNOSA JOAQUIM
TRIGO CHRISTINA
REGION CODE ADDRESS : 435 CLARK PLACE
01 CITY : UNION
STATE/ZIP : NJ 07083
MORTGAGE AMOUNT : 122,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 121,862.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 970.69 OUTSIDE CONV DATE :
LIFETIME RATE : 8.87500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.87500 PRODUCT CODE : 002
LTV : 70.93000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 824,600.00
P & I AMT: 6,412.65
UPB AMT: 823,881.16
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 142
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030871503 MORTGAGORS: BELL YVONNE
REGION CODE ADDRESS : 88 LAKELAND DRIVE
01 CITY : BRICK TOWNSHIP
STATE/ZIP : NJ 08724
MORTGAGE AMOUNT : 45,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 44,950.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 362.08 OUTSIDE CONV DATE :
LIFETIME RATE : 9.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.00000 PRODUCT CODE : 002
LTV : 50.00000
----------------------------------------------------------------
0 0030871628 MORTGAGORS: SINGH BALBIR
REGION CODE ADDRESS : 11 MSGR WOJTYCHA DRIVE
01 CITY : JERSEY CITY
STATE/ZIP : NJ 07306
MORTGAGE AMOUNT : 180,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 180,357.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,469.01 OUTSIDE CONV DATE :
LIFETIME RATE : 9.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.12500 PRODUCT CODE : 002
LTV : 79.99500
----------------------------------------------------------------
0 0030871677 MORTGAGORS: KNITTLE MELVIN
KNITTLE SHARON
REGION CODE ADDRESS : 1513 PLACER AVENUE
01 CITY : MODESTO
STATE/ZIP : CA 95358
MORTGAGE AMOUNT : 67,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 66,926.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 539.10 OUTSIDE CONV DATE :
LIFETIME RATE : 9.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.00000 PRODUCT CODE : 002
LTV : 78.82300
----------------------------------------------------------------
0 0030871891 MORTGAGORS: PEREZ JOSEPH
PEREZ DIANA
REGION CODE ADDRESS : 897 SOUTH COTTONTAIL LANE
01 CITY : ANAHEIM HILLS
STATE/ZIP : CA 92808
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,817.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,995.84 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030871982 MORTGAGORS: NANAK LUDOVIT
REGION CODE ADDRESS : 3411 BEACON STREET
01 CITY : POMPANO BEACH
STATE/ZIP : FL 33062
MORTGAGE AMOUNT : 232,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 231,782.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,993.24 OUTSIDE CONV DATE :
LIFETIME RATE : 9.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 796,550.00
P & I AMT: 6,359.27
UPB AMT: 795,834.43
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 143
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030872048 MORTGAGORS: ROBICHAUD ROGER
RYDER LOUISE
REGION CODE ADDRESS : 38 POPLAR STREET
01 CITY : BELMONT
STATE/ZIP : MA 02178
MORTGAGE AMOUNT : 255,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,939.71 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030872188 MORTGAGORS: THOMPSON WILLETA
REGION CODE ADDRESS : 3755 WEST 59TH PLACE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90043
MORTGAGE AMOUNT : 129,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 127,709.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,061.25 OUTSIDE CONV DATE :
LIFETIME RATE : 9.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.25000 PRODUCT CODE : 002
LTV : 75.88200
----------------------------------------------------------------
0 0030872196 MORTGAGORS: HAYCRAFT JAMES
REGION CODE ADDRESS : 4746 NW 49TH COURT
01 CITY : TAMARAC
STATE/ZIP : FL 33319
MORTGAGE AMOUNT : 50,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 49,942.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 393.35 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 66.66600
----------------------------------------------------------------
0 0030872220 MORTGAGORS: PEREZ-TORRES JUAN
REGION CODE ADDRESS : 10309 SW 4TH STREET
01 CITY : SWEETWATER
STATE/ZIP : FL 33174
MORTGAGE AMOUNT : 112,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 112,379.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 915.34 OUTSIDE CONV DATE :
LIFETIME RATE : 9.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030872279 MORTGAGORS: AUERBACH ROY
AUERBACH JOSEPHINE
REGION CODE ADDRESS : 9520 RED BIRD LANE
01 CITY : ALPHARETTA
STATE/ZIP : GA 30202
MORTGAGE AMOUNT : 294,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,552.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,162.78 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 841,450.00
P & I AMT: 6,472.43
UPB AMT: 839,783.74
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 144
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030872436 MORTGAGORS: JOSEPH MICHAEL
JOSEPH SUSAN
REGION CODE ADDRESS : 17160 WILD WAY
01 CITY : LOS GATOS
STATE/ZIP : CA 95030
MORTGAGE AMOUNT : 375,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 374,748.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,751.62 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 73.52900
----------------------------------------------------------------
0 0030872550 MORTGAGORS: WATKINS ANNA
REGION CODE ADDRESS : 2658 NAPLES STREET
01 CITY : HAYWARD
STATE/ZIP : CA 94545
MORTGAGE AMOUNT : 132,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 131,862.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,085.93 OUTSIDE CONV DATE :
LIFETIME RATE : 9.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030872576 MORTGAGORS: PAPPAS LANDA
REGION CODE ADDRESS : 7570 NW 47TH AVENUE
01 CITY : COCONUT CREEK
STATE/ZIP : FL 33073
MORTGAGE AMOUNT : 125,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 125,475.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,056.11 OUTSIDE CONV DATE :
LIFETIME RATE : 9.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030872584 MORTGAGORS: MECKFESSEL ROBERT
MECKFESSEL PATRICIA
REGION CODE ADDRESS : 600 RAINBOW DRIVE
01 CITY : DALLAS
STATE/ZIP : TX 75208
MORTGAGE AMOUNT : 237,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,356.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,826.17 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030872600 MORTGAGORS: WHITE CHERYL
REGION CODE ADDRESS : 4843 KIPLING DRIVE
01 CITY : CARMICHAEL
STATE/ZIP : CA 95608
MORTGAGE AMOUNT : 305,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 304,690.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,536.84 OUTSIDE CONV DATE :
LIFETIME RATE : 9.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.37500 PRODUCT CODE : 002
LTV : 78.20500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,175,100.00
P & I AMT: 9,256.67
UPB AMT: 1,174,133.80
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 145
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030872618 MORTGAGORS: GAINEY JERRY
GAINEY MARGARET
REGION CODE ADDRESS : 1525 MARSHBURN ROAD
01 CITY : WENDELL
STATE/ZIP : NC 27591
MORTGAGE AMOUNT : 247,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,746.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,122.11 OUTSIDE CONV DATE :
LIFETIME RATE : 9.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.75000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030872709 MORTGAGORS: ROSTOKER MARTIN
ROSTOKER SHARON
REGION CODE ADDRESS : 4215 NORTH HARVARD AVENUE
01 CITY : ARLINGTON HEIGHTS
STATE/ZIP : IL 60004
MORTGAGE AMOUNT : 266,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,825.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,975.05 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030872758 MORTGAGORS: DEANE GREGORY
DEANE PATRICE
REGION CODE ADDRESS : 8974 NORTH CHEYENNE WAY
01 CITY : PARK CITY
STATE/ZIP : UT 84098
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,783.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,554.31 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 69.95800
----------------------------------------------------------------
0 0030872766 MORTGAGORS: MC KINNEY JOHN
MC KINNEY JODI
REGION CODE ADDRESS : 4247 MOSS POINT LANE
01 CITY : SPRINGFIELD
STATE/ZIP : OH 45504
MORTGAGE AMOUNT : 254,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,911.23 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030872808 MORTGAGORS: DADRAS THOMAS
REGION CODE ADDRESS : 3985 MANDEVILLE CANYON ROAD
01 CITY : LOS ANGELES
STATE/ZIP : CA 90049
MORTGAGE AMOUNT : 409,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 409,325.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,005.50 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,517,000.00
P & I AMT: 11,568.20
UPB AMT: 1,516,080.69
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 146
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030872816 MORTGAGORS: GALLATIN LARRY
MACKEY KRISTI
REGION CODE ADDRESS : 6907 AQUEDUCT TERRACE
01 CITY : ODESSA
STATE/ZIP : FL 33556
MORTGAGE AMOUNT : 229,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 229,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,704.04 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030872873 MORTGAGORS: TRAN DIEU-CHAU
DUONG QUI
REGION CODE ADDRESS : 12728 SANDY CREST COURT
01 CITY : SAN DIEGO
STATE/ZIP : CA 92130
MORTGAGE AMOUNT : 296,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,700.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,178.55 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 73.87400
----------------------------------------------------------------
0 0030872899 MORTGAGORS: FRIEDBERG JASON
FRIEDBERG JANENE
REGION CODE ADDRESS : 410 MIRAMONTE DRIVE
01 CITY : SANTA BARBARA
STATE/ZIP : CA 93109
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,821.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,885.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 77.61100
----------------------------------------------------------------
0 0030872972 MORTGAGORS: PANICO JOHN
PANICO REGINA
REGION CODE ADDRESS : 4735 N.W. 57 LANE
01 CITY : CORAL SPRINGS
STATE/ZIP : FL 33067
MORTGAGE AMOUNT : 168,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 168,337.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,432.23 OUTSIDE CONV DATE :
LIFETIME RATE : 9.62500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.62500 PRODUCT CODE : 002
LTV : 79.98400
----------------------------------------------------------------
0 0030873129 MORTGAGORS: SMOOT EDDIE
SMOOT BETTY
REGION CODE ADDRESS : 6326 ALDERMAN DR.
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22315
MORTGAGE AMOUNT : 247,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,825.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,769.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.99500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,201,900.00
P & I AMT: 8,969.54
UPB AMT: 1,201,185.42
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 147
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030873137 MORTGAGORS: CARSON CRAIG
CARSON RITA
REGION CODE ADDRESS : 4250 DALLAS COURT
01 CITY : FREMONT
STATE/ZIP : CA 94536
MORTGAGE AMOUNT : 221,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 221,516.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,666.31 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 94.98900
----------------------------------------------------------------
0 0030873202 MORTGAGORS: WIDAWSKI THOMAS
KOWAL TERESA
REGION CODE ADDRESS : 5640 N. 115TH STREET
01 CITY : LONGMONT
STATE/ZIP : CO 80501
MORTGAGE AMOUNT : 283,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,214.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,104.24 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 71.74600
----------------------------------------------------------------
0 0030873285 MORTGAGORS: RECINOS DAVID
REGION CODE ADDRESS : 3136 NORTH NAOMI STREET
01 CITY : BURBANK
STATE/ZIP : CA 91504
MORTGAGE AMOUNT : 247,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,803.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,928.53 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030873327 MORTGAGORS: SCHRANZ JENNIFER
COUNTS DAVID
REGION CODE ADDRESS : 1221 SUGAR BERRY LANE
01 CITY : COLLEGEVILLE
STATE/ZIP : PA 19426
MORTGAGE AMOUNT : 245,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,885.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,798.10 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 92.80200
----------------------------------------------------------------
0 0030873426 MORTGAGORS: VONG KIM
VONG SOPHANNA
REGION CODE ADDRESS : 4908 23RD AVENUE W
01 CITY : EVERETT
STATE/ZIP : WA 98203
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,803.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,227.50 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,298,200.00
P & I AMT: 9,724.68
UPB AMT: 1,297,223.71
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 148
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030873517 MORTGAGORS: MC MANUS CHARLES
MC MANUS SHARON
REGION CODE ADDRESS : 13453 LORE PINES LANE
01 CITY : SOLOMONS ISLAND
STATE/ZIP : MD 20688
MORTGAGE AMOUNT : 235,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,196.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,747.47 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 88.31000
----------------------------------------------------------------
0 0030873640 MORTGAGORS: HURT JERRY
HURT SLAVCA
REGION CODE ADDRESS : 1525 BONNIE JEAN LANE
01 CITY : LA HABRA HEIGHTS
STATE/ZIP : CA 90631
MORTGAGE AMOUNT : 303,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,711.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,309.86 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
0 0030873673 MORTGAGORS: HERRMANN ROBERT
HERRMANN SUSAN
REGION CODE ADDRESS : 10 CROSSBOW LANE
01 CITY : MONROE
STATE/ZIP : CT 06468
MORTGAGE AMOUNT : 282,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,200.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,023.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030873772 MORTGAGORS: NELSON BRUCE
NELSON DONALD
REGION CODE ADDRESS : 7 CASSIS
01 CITY : DANA POINT
STATE/ZIP : CA 92629
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,854.58 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 65.06600
----------------------------------------------------------------
0 0030873780 MORTGAGORS: REIMONENQ ALDEN
LACKEY DARRICK
REGION CODE ADDRESS : 3331 WISCONSIN STREET
01 CITY : OAKLAND
STATE/ZIP : CA 94602
MORTGAGE AMOUNT : 247,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,855.63 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 78.41200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,312,650.00
P & I AMT: 9,790.69
UPB AMT: 1,312,107.83
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 149
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030873863 MORTGAGORS: MCDERMID ROY
MCDERMID SELMA
REGION CODE ADDRESS : 11615 VIA TAVITO
01 CITY : SAN DIEGO
STATE/ZIP : CA 92128
MORTGAGE AMOUNT : 254,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,842.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,930.58 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 84.94900
----------------------------------------------------------------
0 0030873905 MORTGAGORS: MANKARIOUS RONALD
REGION CODE ADDRESS : 2314 KEATS PLACE
01 CITY : CARLSBAD
STATE/ZIP : CA 92008
MORTGAGE AMOUNT : 251,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,846.16 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 89.98569
----------------------------------------------------------------
0 0030874044 MORTGAGORS: STOKES HENRY
DICKINSON KIM
REGION CODE ADDRESS : 11 CURTIS STREET
01 CITY : SCITUATE
STATE/ZIP : MA 02066
MORTGAGE AMOUNT : 220,875.00 OPTION TO CONVERT :
UNPAID BALANCE : 220,747.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,737.62 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030874069 MORTGAGORS: HUSZARIK RONALD
HUSZARIK BEVERLY
REGION CODE ADDRESS : 5647 KIRKRIDGE TRAIL
01 CITY : OAKLAND TWSP
STATE/ZIP : MI 48306
MORTGAGE AMOUNT : 435,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 435,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,154.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 69.82300
----------------------------------------------------------------
0 0030874333 MORTGAGORS: GILHOOLEY DENNIS
GILHOOLEY CAROL
REGION CODE ADDRESS : 1N 591 AUGUSTA COURT
01 CITY : WINFIELD
STATE/ZIP : IL 60190
MORTGAGE AMOUNT : 281,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,574.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,141.51 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 89.98800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,443,225.00
P & I AMT: 10,809.93
UPB AMT: 1,442,764.93
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 150
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030874432 MORTGAGORS: WINGERSON DANE
WINGERSON BARBARA
REGION CODE ADDRESS : 8917 SE 74TH PL
01 CITY : MERCER ISLAND
STATE/ZIP : WA 98040
MORTGAGE AMOUNT : 410,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 410,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,044.24 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 75.92500
----------------------------------------------------------------
0 0030874457 MORTGAGORS: DUFFIELD ANNE
REGION CODE ADDRESS : 3030 MCKINNEY AVE #1101
01 CITY : DALLAS
STATE/ZIP : TX 75204
MORTGAGE AMOUNT : 228,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 228,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,692.90 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030874531 MORTGAGORS: ROSE RICHARD
ROSE LINDA
REGION CODE ADDRESS : 1861 THREE MILE DRIVE
01 CITY : RENO
STATE/ZIP : NV 89509
MORTGAGE AMOUNT : 317,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 316,842.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,354.09 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 74.99700
----------------------------------------------------------------
0 0030874721 MORTGAGORS: PECK JOHN
PECK SONYA
REGION CODE ADDRESS : 33225 DONNA LANE
01 CITY : AGUA DULCE
STATE/ZIP : CA 91350
MORTGAGE AMOUNT : 297,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,305.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,208.93 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 62.63100
----------------------------------------------------------------
0 0030874820 MORTGAGORS: CARMASSI STEPHEN
CARMASSI MARIA
REGION CODE ADDRESS : 4376 MANSFIELD DRIVE
01 CITY : DANVILLE
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,537.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 72.91600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,602,550.00
P & I AMT: 11,837.90
UPB AMT: 1,602,147.99
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 151
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030874945 MORTGAGORS: HOEPFNER PATRICK
IGNACIO-HOEPFNER ILUMINADA
REGION CODE ADDRESS : 4707 RIPPLING POND DRIVE
01 CITY : FAIRFAX
STATE/ZIP : VA 22033
MORTGAGE AMOUNT : 297,825.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,639.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,263.69 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030874994 MORTGAGORS: HOWE GEORGE
HOWE CHRISTINE
REGION CODE ADDRESS : 2509 HINTON STREET
01 CITY : RALEIGH
STATE/ZIP : NC 27612
MORTGAGE AMOUNT : 261,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,778.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,944.98 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 79.98700
----------------------------------------------------------------
0 0030875009 MORTGAGORS: MC DONALD PATRICK
MC DONALD CHERI
REGION CODE ADDRESS : 3249 FUTURA POINT
01 CITY : THOUSAN OAKS
STATE/ZIP : CA 91362
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,617.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,083.90 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 76.75600
----------------------------------------------------------------
0 0030875140 MORTGAGORS: WANT DAMIAN
GLAVINOVICH MIKEL
REGION CODE ADDRESS : 722 ELVIRA AVENUE #A
01 CITY : REDONDO BEACH
STATE/ZIP : CA 90277
MORTGAGE AMOUNT : 305,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 305,344.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,242.02 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030875413 MORTGAGORS: MORA EFREN
REGION CODE ADDRESS : 17809 NE 240TH CIRCLE
01 CITY : BATTLE GROUND
STATE/ZIP : WA 98604
MORTGAGE AMOUNT : 230,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 230,717.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,816.10 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,380,175.00
P & I AMT: 10,350.69
UPB AMT: 1,379,098.27
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 152
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030875579 MORTGAGORS: CAMACHO VICTOR
CAMACHO PATTY
REGION CODE ADDRESS : 3709 LOTUS DRIVE
01 CITY : SAN DIEGO
STATE/ZIP : CA 92106
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,836.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,242.10 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 73.07600
----------------------------------------------------------------
0 0030875637 MORTGAGORS: DEHOOGH GREG
HAND NANCY
REGION CODE ADDRESS : 24771 MEDOCINO COURT
01 CITY : LAGUNA HILLS
STATE/ZIP : CA 92653
MORTGAGE AMOUNT : 246,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,788.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030875645 MORTGAGORS: CABAGNOT FERRE
CABAGNOT ADELITA
REGION CODE ADDRESS : 8374 EAST QUIET CANYON COURT
01 CITY : ANAHEIM
STATE/ZIP : CA 92808
MORTGAGE AMOUNT : 236,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,706.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,821.17 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 89.37730
----------------------------------------------------------------
0 0030875744 MORTGAGORS: BROWN CHARLYNE
REGION CODE ADDRESS : 225 LOCUST LANE
01 CITY : DENVER
STATE/ZIP : CO 80224
MORTGAGE AMOUNT : 225,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 224,849.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,650.98 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030875751 MORTGAGORS: RODRIGUEZ EUGENIO
RODRIGUEZ ANN
REGION CODE ADDRESS : 10 OVERHILL ROAD
01 CITY : WAYNE
STATE/ZIP : NJ 07470
MORTGAGE AMOUNT : 418,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 417,740.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,177.11 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 89.50700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,411,450.00
P & I AMT: 10,679.38
UPB AMT: 1,410,731.75
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 153
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030876031 MORTGAGORS: GREGORY DIANE
REGION CODE ADDRESS : 1125 SHETLAND COURT
01 CITY : RALEIGH
STATE/ZIP : NC 27609
MORTGAGE AMOUNT : 75,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 74,927.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 637.49 OUTSIDE CONV DATE :
LIFETIME RATE : 9.62500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.62500 PRODUCT CODE : 002
LTV : 70.75400
----------------------------------------------------------------
0 0030876056 MORTGAGORS: LOKE TAI
REGION CODE ADDRESS : 7035 BRADLEY CIRCLE
01 CITY : ANNANDALE
STATE/ZIP : VA 22003
MORTGAGE AMOUNT : 140,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 140,645.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,132.91 OUTSIDE CONV DATE :
LIFETIME RATE : 9.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030876080 MORTGAGORS: CHALHOUB CHERYL
REGION CODE ADDRESS : 12 SENECA LANE
01 CITY : PLYMOUTH
STATE/ZIP : MA 02360
MORTGAGE AMOUNT : 105,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 104,901.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 902.11 OUTSIDE CONV DATE :
LIFETIME RATE : 9.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.75000 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0030876247 MORTGAGORS: KATZ GREGORY
KATZ RAYLENE
REGION CODE ADDRESS : 26361 HOUSTON TRAIL
01 CITY : LAGUNA HILLS
STATE/ZIP : CA 92653
MORTGAGE AMOUNT : 377,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 377,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,770.70 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030876338 MORTGAGORS: COOK GERARD
COOK LINDA
REGION CODE ADDRESS : 60 COVENTRY COURT
01 CITY : LAKE BLUFF
STATE/ZIP : IL 60044
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 325,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,384.74 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 52.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,023,400.00
P & I AMT: 7,827.95
UPB AMT: 1,023,075.09
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 154
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030876437 MORTGAGORS: FULLER REX
FULLER SARAH
REGION CODE ADDRESS : 5900 SHIRL COURT
01 CITY : CHESAPEAKE BEACH
STATE/ZIP : MD 20732
MORTGAGE AMOUNT : 282,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,110.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,071.42 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 78.85400
----------------------------------------------------------------
0 0030876510 MORTGAGORS: ZHU KAINING
LIU XIAO
REGION CODE ADDRESS : 19904 MARIPOSA CREEK WAY
01 CITY : NORTHRIDGE AREA
STATE/ZIP : CA 91326
MORTGAGE AMOUNT : 270,275.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,089.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,959.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030876742 MORTGAGORS: SWANSON RONALD
SWANSON PATRICIA
REGION CODE ADDRESS : 14 JOHNSON LANE
01 CITY : KEANSBURG
STATE/ZIP : NJ 07734
MORTGAGE AMOUNT : 94,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 94,401.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 777.43 OUTSIDE CONV DATE :
LIFETIME RATE : 9.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030876767 MORTGAGORS: LYNN ROGER
LYNN MARY
REGION CODE ADDRESS : 1429 WEAVER DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95125
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,757.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,075.66 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 69.56500
----------------------------------------------------------------
0 0030876833 MORTGAGORS: DAVIS DON
REGION CODE ADDRESS : 3026 EAST DURAN AVENUE
01 CITY : VISALIA
STATE/ZIP : CA 93292
MORTGAGE AMOUNT : 100,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 99,901.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 840.85 OUTSIDE CONV DATE :
LIFETIME RATE : 9.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,147,075.00
P & I AMT: 8,725.04
UPB AMT: 1,146,260.14
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 155
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030876858 MORTGAGORS: HUNTER MAC GREGOR
HUNTER ELIZABETH
REGION CODE ADDRESS : 533 OSBORNE STREET
01 CITY : VISTA
STATE/ZIP : CA 92084
MORTGAGE AMOUNT : 278,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,276.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,116.43 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 78.43600
----------------------------------------------------------------
0 0030876874 MORTGAGORS: BERKE MICHAEL
BERKE LAUREEN
REGION CODE ADDRESS : 24 MOLLY PITCHER DRIVE
01 CITY : MANALAPAN
STATE/ZIP : NJ 07726
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,004.74 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 71.41700
----------------------------------------------------------------
0 0030876882 MORTGAGORS: WALSH GERARD
MCENTEE AISLING
REGION CODE ADDRESS : 49 WAYNE STREET
01 CITY : JERSEY CITY
STATE/ZIP : NJ 07302
MORTGAGE AMOUNT : 144,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 143,850.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,184.65 OUTSIDE CONV DATE :
LIFETIME RATE : 9.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030877104 MORTGAGORS: VIOLETTE JAMES
VIOLETTE DEBRA
REGION CODE ADDRESS : 28322 LA CALETA
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 244,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,647.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,860.66 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030877161 MORTGAGORS: FIELDS JONATHON
MAXWELL MICHELLE
REGION CODE ADDRESS : 12748 STANWOOD AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90066
MORTGAGE AMOUNT : 290,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,214.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,181.68 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,227,650.00
P & I AMT: 9,348.16
UPB AMT: 1,226,989.70
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 156
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030877179 MORTGAGORS: ASKIN RICHARD
ASKIN HEIDI
REGION CODE ADDRESS : 9 KAYETON ROAD
01 CITY : ALLENDALE
STATE/ZIP : NJ 07401
MORTGAGE AMOUNT : 249,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,870.65 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 89.24700
----------------------------------------------------------------
0 0030877187 MORTGAGORS: KURTZ STEVEN
REGION CODE ADDRESS : 9425 CHURCH HILL
01 CITY : LAS VEGAS
STATE/ZIP : NV 89117
MORTGAGE AMOUNT : 293,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 293,362.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,205.34 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030877864 MORTGAGORS: ZELNICK JAY
MITERMAN GAIL
REGION CODE ADDRESS : 2 KING GEORGE ROAD
01 CITY : GREEN BROOK
STATE/ZIP : NJ 07059
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,885.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030877955 MORTGAGORS: MOORE TERRENCE
MOORE KAREN
REGION CODE ADDRESS : 3601 SERENDIPITY HILLS TRAIL
01 CITY : CORINTH
STATE/ZIP : TX 76205
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,764.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,672.99 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030877971 MORTGAGORS: WRIGHT REBECCA
REGION CODE ADDRESS : 4521 LOWELL STREET NW
01 CITY : WASHINGTON
STATE/ZIP : DC 20016
MORTGAGE AMOUNT : 442,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 442,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,166.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 71.86900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,604,550.00
P & I AMT: 11,800.71
UPB AMT: 1,604,127.33
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 157
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030878011 MORTGAGORS: GUIRGUIS RAAFAT
GURIGUIS NADIA
REGION CODE ADDRESS : 11632 PARSIPPANY TERRACE
01 CITY : N POTOMAC
STATE/ZIP : MD 20878
MORTGAGE AMOUNT : 258,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,222.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,873.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030878128 MORTGAGORS: SARKAR ASHOKE
SARKAR NAMITA
REGION CODE ADDRESS : 13023 BROADMORE ROAD
01 CITY : SILVER SPRING
STATE/ZIP : MD 20904
MORTGAGE AMOUNT : 234,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,757.96 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 78.00000
----------------------------------------------------------------
0 0030878151 MORTGAGORS: ARDON ALFREDO
REGION CODE ADDRESS : 3111 OAKLAND SHORES DR, UNIT F206
01 CITY : FT LAUDERDALE
STATE/ZIP : FL 33309
MORTGAGE AMOUNT : 36,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 35,968.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 319.26 OUTSIDE CONV DATE :
LIFETIME RATE : 10.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 10.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030878177 MORTGAGORS: SMITH CHERYL
REGION CODE ADDRESS : 2917 BAUERNWOOD AVE
01 CITY : BALTIMORE
STATE/ZIP : MD 21234
MORTGAGE AMOUNT : 58,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 58,425.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 439.49 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030878193 MORTGAGORS: CASTRO MELANIO
CASTRO LIZ
REGION CODE ADDRESS : 3522 MARSH CREEK WAY
01 CITY : ELK GROVE
STATE/ZIP : CA 95758
MORTGAGE AMOUNT : 256,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,303.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,268.49 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 06/01/17
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 94.99200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 843,600.00
P & I AMT: 6,658.78
UPB AMT: 842,919.44
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 158
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030878219 MORTGAGORS: KINGCADE PAULETTE
REGION CODE ADDRESS : 21461 POPLAR STREET
01 CITY : WILLITS
STATE/ZIP : CA 95490
MORTGAGE AMOUNT : 45,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 44,960.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 394.91 OUTSIDE CONV DATE :
LIFETIME RATE : 10.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 10.00000 PRODUCT CODE : 002
LTV : 58.44155
----------------------------------------------------------------
0 0030878235 MORTGAGORS: SONG HO
SONG SUSAN
REGION CODE ADDRESS : 11870 KILLIMORE AVENUE
01 CITY : NORTHRIDGE
STATE/ZIP : CA 91326
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,856.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,966.76 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 88.65200
----------------------------------------------------------------
0 0030878250 MORTGAGORS: LAGE RODOLFO
REGION CODE ADDRESS : 210 NW 151 STREET
01 CITY : MIAMI
STATE/ZIP : FL 33169
MORTGAGE AMOUNT : 55,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 55,145.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 464.15 OUTSIDE CONV DATE :
LIFETIME RATE : 9.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030878284 MORTGAGORS: DUCOS RAFAEL
REGION CODE ADDRESS : 130 N.W. 16TH AVENUE
01 CITY : MIAMI
STATE/ZIP : FL 33125
MORTGAGE AMOUNT : 78,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 78,322.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 659.23 OUTSIDE CONV DATE :
LIFETIME RATE : 9.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030878300 MORTGAGORS: WAGNER ELIZABETH
MARSHALL KIMBERLY
REGION CODE ADDRESS : 285 ORIZABA AVE
01 CITY : LONG BEACH
STATE/ZIP : CA 90803
MORTGAGE AMOUNT : 227,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 226,901.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,685.84 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 655,650.00
P & I AMT: 5,170.89
UPB AMT: 655,185.70
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 159
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030878441 MORTGAGORS: MASHEK KEVIN
MASHEK DIANE
REGION CODE ADDRESS : 12560 THOMAS CREEK ROAD
01 CITY : RENO
STATE/ZIP : NV 89511
MORTGAGE AMOUNT : 220,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 219,856.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,633.50 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030878524 MORTGAGORS: HOLLIDAY ROSEMARY
REGION CODE ADDRESS : 11900 SKI RUN ROAD
01 CITY : TRUCKEE
STATE/ZIP : CA 96161
MORTGAGE AMOUNT : 228,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 227,868.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,793.68 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030878888 MORTGAGORS: WALL PATRICK
WALL ANNABELLE
REGION CODE ADDRESS : 1871 SIERRA MADRE VILLA AVENUE
01 CITY : PASADENA
STATE/ZIP : CA 91107
MORTGAGE AMOUNT : 405,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 404,735.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,007.12 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 73.63600
----------------------------------------------------------------
0 0030878979 MORTGAGORS: LAMORTE-SHBAT MICHELE
SHBAT BISHARA
REGION CODE ADDRESS : 6516 SUMMERTON WAY
01 CITY : SPRINGFIELD
STATE/ZIP : VA 22150
MORTGAGE AMOUNT : 269,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,900.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,881.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030879134 MORTGAGORS: KANDES MARTIN
KANDES SARA
REGION CODE ADDRESS : 5127 WESTPORT COURT
01 CITY : UNION CITY
STATE/ZIP : CA 94587
MORTGAGE AMOUNT : 239,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,339.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,757.37 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 74.96000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,361,600.00
P & I AMT: 10,073.26
UPB AMT: 1,360,699.56
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 160
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030879175 MORTGAGORS: HOPSON DANIEL
HOPSON OFELIA
REGION CODE ADDRESS : 968 PAMELA PLACE
01 CITY : PLEASANTON
STATE/ZIP : CA 94566
MORTGAGE AMOUNT : 492,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 492,050.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,653.46 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 79.99500
----------------------------------------------------------------
0 0030879225 MORTGAGORS: LEROUX DAVID
LEROUX ALICIA
REGION CODE ADDRESS : 10291 SHAWNS GROVE PLACE
01 CITY : MECHANICSVILLE
STATE/ZIP : VA 23116
MORTGAGE AMOUNT : 237,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,340.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,742.70 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030879233 MORTGAGORS: BUCKLEY STEVEN
BUCKLEY VICKI
REGION CODE ADDRESS : 5804 ASCOT GLEN DRIVE
01 CITY : GLEN ALLEN
STATE/ZIP : VA 23060
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,891.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030879324 MORTGAGORS: LOMASNEY DAVID
LOMASNEY MARGARET
REGION CODE ADDRESS : 6230 EAST REDMONT DR.
01 CITY : MESA
STATE/ZIP : AZ 85215
MORTGAGE AMOUNT : 342,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 341,787.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,599.45 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030879332 MORTGAGORS: SAVASO MICHAEL
SAVASO LORETTA
REGION CODE ADDRESS : 5615 EAST CALLE CANADA
01 CITY : ANAHEIM
STATE/ZIP : CA 92807
MORTGAGE AMOUNT : 221,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 221,651.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,627.49 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 89.97900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,557,350.00
P & I AMT: 11,514.43
UPB AMT: 1,556,829.24
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 161
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030879365 MORTGAGORS: TORRES ANGEL
REGION CODE ADDRESS : 1451 NW 167TH AVENUE
01 CITY : PEMBROKE PINES
STATE/ZIP : FL 33028
MORTGAGE AMOUNT : 243,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,952.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,869.23 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 94.96400
----------------------------------------------------------------
0 0030879456 MORTGAGORS: KONDRACKE MORTON
KONDRACKE MILLICENT
REGION CODE ADDRESS : 2230 CALIFORNIA ST NW5CE
01 CITY : WASHINGTON
STATE/ZIP : DC 20008
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 328,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,378.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030879498 MORTGAGORS: NUSSER DAN
REGION CODE ADDRESS : 6949 SANDTRACK ROAD
01 CITY : RIVERSIDE
STATE/ZIP : CA 92506
MORTGAGE AMOUNT : 256,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,340.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,949.59 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030879688 MORTGAGORS: MCKEAN DANIEL
PRATT CHRISTOPHER
REGION CODE ADDRESS : 616 S THIRTEENTH STREET
01 CITY : SAN JOSE
STATE/ZIP : CA 95112
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,829.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,798.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030879720 MORTGAGORS: MICHELSEN JIMMY
MICHELSEN ELIZABETH
REGION CODE ADDRESS : 749 BAYLOR DR
01 CITY : SANTA CLARA
STATE/ZIP : VA 95051
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,846.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,803.04 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 71.64100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,315,600.00
P & I AMT: 9,798.26
UPB AMT: 1,314,969.59
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 162
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030879811 MORTGAGORS: STEL DAVID
STEL SUSAN
REGION CODE ADDRESS : 1455 EAST COVINA HILLS ROAD
01 CITY : COVINA
STATE/ZIP : CA 91724
MORTGAGE AMOUNT : 412,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 412,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,919.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030879969 MORTGAGORS: VAN WAGONER JAN
VAN WAGONER DEBORAH
REGION CODE ADDRESS : 2908 BEVERLY DR
01 CITY : PLANO
STATE/ZIP : TX 75093
MORTGAGE AMOUNT : 306,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 306,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,248.26 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030880090 MORTGAGORS: WILSON JOHN
WILSON JENNIE
REGION CODE ADDRESS : 5129 CIRCLE VISTA AVENUE
01 CITY : LA CRESCENTA AREA
STATE/ZIP : CA 91214
MORTGAGE AMOUNT : 242,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,099.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,841.27 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030880272 MORTGAGORS: HERNANDEZ RAFAEL
LARA LIZBETH
REGION CODE ADDRESS : 5460 WEST 21ST COURT #211
01 CITY : HIALEAH
STATE/ZIP : FL 33016
MORTGAGE AMOUNT : 44,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 44,359.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 385.55 OUTSIDE CONV DATE :
LIFETIME RATE : 9.87500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 9.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030880454 MORTGAGORS: QUIGLEY RICHARD
QUIGLEY KATHLEEN
REGION CODE ADDRESS : 5619 CENTRAL AVENUE
01 CITY : OCEAN CITY
STATE/ZIP : NJ 08226
MORTGAGE AMOUNT : 324,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,462.63 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,329,550.00
P & I AMT: 9,857.36
UPB AMT: 1,329,358.92
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 163
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030880553 MORTGAGORS: TATE THOMAS
TATE BETTY
REGION CODE ADDRESS : 1126 ALLSTON COURT
01 CITY : SAN JOSE
STATE/ZIP : CA 95120
MORTGAGE AMOUNT : 235,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,838.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,703.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 55.29400
----------------------------------------------------------------
0 0030880637 MORTGAGORS: BRODSKY ROBERT
BRODSKY LAURA
REGION CODE ADDRESS : 36 DIAMOND CREST COURT
01 CITY : BALTIMORE,COUNTY OF BALTI
STATE/ZIP : MD 21209
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,968.42 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030880736 MORTGAGORS: THOMPSON JEFFREY
THOMPSON MARIANNE
REGION CODE ADDRESS : 1249 CHERRY AVE NE
01 CITY : BAINBRIDGE ISLAND
STATE/ZIP : WA 98110
MORTGAGE AMOUNT : 287,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,130.97 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 77.56700
----------------------------------------------------------------
0 0030880850 MORTGAGORS: CLARK CHRISTOPHER
CLARK LAUREN
REGION CODE ADDRESS : 1865 KRPAN DRIVE
01 CITY : ROSEVILLE
STATE/ZIP : CA 95747
MORTGAGE AMOUNT : 343,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 343,686.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,613.89 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 79.91600
----------------------------------------------------------------
0 0030880892 MORTGAGORS: BORRERO ESTEBAN
BORRERO CHRISTINE
REGION CODE ADDRESS : 25312 HERRING CREEK DRIVE
01 CITY : SOUTH RIDING
STATE/ZIP : VA 20152
MORTGAGE AMOUNT : 247,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,860.14 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 89.91900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,369,500.00
P & I AMT: 10,277.34
UPB AMT: 1,369,124.52
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 164
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030881098 MORTGAGORS: VOIVODA JEFFREY
VOIVODA MELISSA
REGION CODE ADDRESS : 43328 DOVETAIL PLACE
01 CITY : ASHBURN
STATE/ZIP : VA 20147
MORTGAGE AMOUNT : 223,920.00 OPTION TO CONVERT :
UNPAID BALANCE : 223,920.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,604.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030881155 MORTGAGORS: PINEDA JOSEPH
PINEDA MARILYN
REGION CODE ADDRESS : 3 BETH DRIVE
01 CITY : LOWER GWYNEDD TOWNSHIP
STATE/ZIP : PA 19002
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,824.17 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030881213 MORTGAGORS: LEHTINEN NANCY
LOFARO GREGORY
REGION CODE ADDRESS : 34 CRONISER DRIVE
01 CITY : HOPEWELL JUNCTION
STATE/ZIP : NY 12533
MORTGAGE AMOUNT : 221,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 221,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,664.06 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 79.90800
----------------------------------------------------------------
0 0030881304 MORTGAGORS: SALAMA GUY
SALAMA CHANTAL
REGION CODE ADDRESS : 1561 SOUTH BEVERLY DRIVE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90035
MORTGAGE AMOUNT : 236,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,250.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,712.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030881445 MORTGAGORS: MEITES SAMUEL
REGION CODE ADDRESS : 263 CLASSON AVENUE UNIT#BA
01 CITY : BROOKLYN
STATE/ZIP : NY 11205
MORTGAGE AMOUNT : 225,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 224,867.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,750.03 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,146,670.00
P & I AMT: 8,555.44
UPB AMT: 1,146,537.16
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 165
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030881452 MORTGAGORS: NAJJAR JOSEPH
REGION CODE ADDRESS : 86 PENINSULA DRIVE
01 CITY : BABYLON
STATE/ZIP : NY 11702
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,837.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,060.69 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030881460 MORTGAGORS: NECHES ROBERT
NECHES ANNA-LENA
REGION CODE ADDRESS : 4350 VIA DOLCE UNIT 308
01 CITY : LOS ANGELES
STATE/ZIP : CA 90292
MORTGAGE AMOUNT : 236,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,690.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,752.30 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030881502 MORTGAGORS: CLARKSON E.
CLARKSON PATRICIA
REGION CODE ADDRESS : 643 DORAL DRIVE
01 CITY : DANVILLE
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 200,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 199,878.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,537.83 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030881510 MORTGAGORS: MOHRLOCK WILLIAM
REGION CODE ADDRESS : 5774 BAKEWELL STREET
01 CITY : SAN DIEGO
STATE/ZIP : CA 92117
MORTGAGE AMOUNT : 146,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 146,250.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,098.73 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030881643 MORTGAGORS: DYER JAY
REGION CODE ADDRESS : 3307 DERONDA DRIVE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90068
MORTGAGE AMOUNT : 311,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,001.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,337.95 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,161,450.00
P & I AMT: 8,787.50
UPB AMT: 1,160,658.22
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 166
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030881726 MORTGAGORS: DOWNS MATTHEW
DOWNS STELLA
REGION CODE ADDRESS : 1535 MATHIAS PLACE
01 CITY : ROHNERT PARK
STATE/ZIP : CA 94928
MORTGAGE AMOUNT : 246,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,800.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,892.30 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 94.99800
----------------------------------------------------------------
0 0030881734 MORTGAGORS: JOHNSON ANDREW
JOHNSON TINA
REGION CODE ADDRESS : 307 WHITEHORSE COURT, SW
01 CITY : LEESBURG
STATE/ZIP : VA 20175
MORTGAGE AMOUNT : 235,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,481.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,686.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 94.99725
----------------------------------------------------------------
0 0030881759 MORTGAGORS: LIEPSHUTZ JANE
REGION CODE ADDRESS : 121 N. ALMONT DR UNIT 102
01 CITY : BEVERLY HILLS
STATE/ZIP : CA 90211
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,621.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,138.40 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030882203 MORTGAGORS: RICHINS LYLE
RICHINS LASTAR
REGION CODE ADDRESS : 820 EAST ST. JAMES LANE
01 CITY : ST GEORGE
STATE/ZIP : UT 84790
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,280.22 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 49.18000
----------------------------------------------------------------
0 0030882310 MORTGAGORS: GORDON JOSEPH
GORDON MONICA
REGION CODE ADDRESS : 585 CALLE DEL SOL
01 CITY : SCOTTS VALLEY
STATE/ZIP : CA 95066
MORTGAGE AMOUNT : 367,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 367,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,726.45 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,436,650.00
P & I AMT: 10,723.45
UPB AMT: 1,435,103.75
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 167
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030882377 MORTGAGORS: MC CORMICK LESTER
MC CORMICK JOAN
REGION CODE ADDRESS : 15446 EAST ACACIA WAY
01 CITY : FOUNTAIN HILLS
STATE/ZIP : AZ 85268
MORTGAGE AMOUNT : 307,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,518.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,393.26 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 89.97300
----------------------------------------------------------------
0 0030882583 MORTGAGORS: MCCART PERRY
MCCART CHARLENE
REGION CODE ADDRESS : 1602 NORTH ROEBEN DRIVE
01 CITY : VISALIA
STATE/ZIP : CA 93291
MORTGAGE AMOUNT : 228,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 228,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,613.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030882708 MORTGAGORS: BUNSIS MICHAEL
REGION CODE ADDRESS : 42 CANDLEWOOD PATH
01 CITY : DIX HILLS
STATE/ZIP : NY 11746
MORTGAGE AMOUNT : 265,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,822.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,944.48 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 70.66600
----------------------------------------------------------------
0 0030882724 MORTGAGORS: CALDWELL JOHN
REGION CODE ADDRESS : 5622 VANDERBILT AVE
01 CITY : DALLAS
STATE/ZIP : TX 75206
MORTGAGE AMOUNT : 182,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 182,783.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,374.07 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 79.98200
----------------------------------------------------------------
0 0030882773 MORTGAGORS: COBLE KEITH
COBLE VICKI
REGION CODE ADDRESS : 7078 QUITO COURT
01 CITY : CAMARILLO
STATE/ZIP : CA 93012
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,738.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,969.99 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 74.07400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,383,600.00
P & I AMT: 10,295.57
UPB AMT: 1,382,862.23
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 168
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030883359 MORTGAGORS: WATSON ANTHONY
WATSON NADINE
REGION CODE ADDRESS : 3230 HERITAGE POINT COURT
01 CITY : SAN JOSE
STATE/ZIP : CA 95148
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,832.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,900.80 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030883367 MORTGAGORS: GEHRIS GREGORY
GEHRIS SUSAN
REGION CODE ADDRESS : 16152 PITMAN LANE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92647
MORTGAGE AMOUNT : 230,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 229,849.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,707.75 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 92.00000
----------------------------------------------------------------
0 0030883383 MORTGAGORS: DUNG JORDAN
DUNG JAMIE
REGION CODE ADDRESS : 3546 AMBRA WAY
01 CITY : SAN JOSE
STATE/ZIP : CA 95132
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,771.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,598.75 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 57.85100
----------------------------------------------------------------
0 0030883409 MORTGAGORS: STEWART KATHLEEN
REGION CODE ADDRESS : 33836 GRANADA DRIVE
01 CITY : DANA POINT
STATE/ZIP : CA 92629
MORTGAGE AMOUNT : 255,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,235.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,919.49 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 51.10000
----------------------------------------------------------------
0 0030883425 MORTGAGORS: VANDEWALLE CHRIS
GREENLEAVES NEIL
REGION CODE ADDRESS : 963 LA MESA TERRACE #A
01 CITY : SUNNYVALE
STATE/ZIP : CA 94086
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,672.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,923.25 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,347,500.00
P & I AMT: 10,050.04
UPB AMT: 1,346,360.85
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 169
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030883433 MORTGAGORS: OCON ANDRES
REGION CODE ADDRESS : 313 SOUTH VIA MONTANA
01 CITY : BURBANK
STATE/ZIP : CA 91501
MORTGAGE AMOUNT : 320,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 320,195.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,407.06 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030883441 MORTGAGORS: GAYLORD BOB
GAYLORD ALISON
REGION CODE ADDRESS : 41050 AVENIDA LA CRESTA
01 CITY : MURRIETA
STATE/ZIP : CA 92562
MORTGAGE AMOUNT : 598,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 598,018.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,495.58 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030883664 MORTGAGORS: ANDL RUDOLF
ANDL CHRIS
REGION CODE ADDRESS : 2252 RUTLAND PLACE
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91362
MORTGAGE AMOUNT : 227,960.00 OPTION TO CONVERT :
UNPAID BALANCE : 221,288.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,672.69 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030883680 MORTGAGORS: AU JOSEPH
AU FAN
REGION CODE ADDRESS : 111 AMBER VALLEY DRIVE
01 CITY : ORINDA
STATE/ZIP : CA 94563
MORTGAGE AMOUNT : 512,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 511,665.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,801.59 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030883714 MORTGAGORS: CHIAPPETTA JOHN
CHIAPPETTA MARY
REGION CODE ADDRESS : 5530 AVENIDA DEL TREN
01 CITY : YORBA LINDA
STATE/ZIP : CA 92887
MORTGAGE AMOUNT : 278,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,217.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,067.12 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,937,160.00
P & I AMT: 14,444.04
UPB AMT: 1,929,385.97
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 170
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030883748 MORTGAGORS: BAISDEN MARVIN
BAISDEN ROXANNE
REGION CODE ADDRESS : 5900 VIA PASA
01 CITY : YORBA LINDA
STATE/ZIP : CA 92887
MORTGAGE AMOUNT : 298,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 298,618.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,297.52 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030883771 MORTGAGORS: AHUJA RATAN
AHUJA PURNIMA
REGION CODE ADDRESS : 716 CAMINO TIERRA SANTA
01 CITY : CAMARILLO
STATE/ZIP : CA 93010
MORTGAGE AMOUNT : 486,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 485,362.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,608.54 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030883797 MORTGAGORS: GRASEL TIMOTHY
GRASEL BETH
REGION CODE ADDRESS : 3858 HUNTERCREST COURT
01 CITY : MOORPARK
STATE/ZIP : CA 93021
MORTGAGE AMOUNT : 319,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 318,780.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,370.06 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030883813 MORTGAGORS: HIATT KENNETH
HIATT IRMA
REGION CODE ADDRESS : 339 VIA NAVONA
01 CITY : MORGAN HILL
STATE/ZIP : CA 95037
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,645.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,004.75 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 72.97200
----------------------------------------------------------------
0 0030883946 MORTGAGORS: MEIER JOHN
MEIER KELLY
REGION CODE ADDRESS : LOT 5 5TH STREET NW
01 CITY : HICKORY
STATE/ZIP : NC 28601
MORTGAGE AMOUNT : 408,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 407,719.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,958.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 76.26100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,782,000.00
P & I AMT: 13,239.15
UPB AMT: 1,780,126.75
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 171
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030883953 MORTGAGORS: CHURNEY STEVEN
CHURNEY MARY
REGION CODE ADDRESS : 25271 ROMERA PLACE
01 CITY : LAKE FOREST
STATE/ZIP : CA 92630
MORTGAGE AMOUNT : 222,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 222,604.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,653.92 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030884019 MORTGAGORS: VELEZ JOSE
REGION CODE ADDRESS : 2466 TAYLOR ST # 4C
01 CITY : HOLLYWOOD
STATE/ZIP : FL 33020
MORTGAGE AMOUNT : 38,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 38,104.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 296.73 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 94.90000
----------------------------------------------------------------
0 0030884100 MORTGAGORS: PETERKA LARRY
PETERKA PAULA
REGION CODE ADDRESS : 1515 SEVERN CHAPEL ROAD
01 CITY : CROWNSVILLE
STATE/ZIP : MD 21032
MORTGAGE AMOUNT : 223,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 222,892.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,599.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030884118 MORTGAGORS: SHADDOX RICHARD
DOWNING ANNE
REGION CODE ADDRESS : 1 SAINT JOHN
01 CITY : DANA POINT
STATE/ZIP : CA 92629
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,761.03 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 76.19000
----------------------------------------------------------------
0 0030884290 MORTGAGORS: MIGLIORE SALVATORE
MIGLIORE CHRISTINE
REGION CODE ADDRESS : 15500 SWEETBIRCH COURT
01 CITY : ROCKVILLE
STATE/ZIP : MD 20853
MORTGAGE AMOUNT : 280,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,525.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,133.53 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 94.99100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,004,850.00
P & I AMT: 7,444.61
UPB AMT: 1,004,127.15
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 172
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030884423 MORTGAGORS: DALLUGE CHARLES
DALLUGE SABINE
REGION CODE ADDRESS : 2308 ARDEN ST
01 CITY : DUNN LORING
STATE/ZIP : VA 22027
MORTGAGE AMOUNT : 266,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,021.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,953.29 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.94500
----------------------------------------------------------------
0 0030884449 MORTGAGORS: NORTHAM THOMAS
NORTHAM STEPHANIE
REGION CODE ADDRESS : 3249 ARBOR DRIVE
01 CITY : PLEASANTON
STATE/ZIP : CA 94566
MORTGAGE AMOUNT : 362,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 361,763.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,687.84 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030884548 MORTGAGORS: HAGENBUCH ALAN
HAGENBUCH JOANN
REGION CODE ADDRESS : 545 TULLAMORE WAY
01 CITY : ALPHARETTA
STATE/ZIP : GA 30201
MORTGAGE AMOUNT : 385,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 384,760.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,926.28 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 77.00000
----------------------------------------------------------------
0 0030884571 MORTGAGORS: FIGUEROA WILLIAM
FIGUEROA ROWENA
REGION CODE ADDRESS : 32 AMBROSE VALLEY LANE
01 CITY : PISCATAWAY
STATE/ZIP : NJ 08854
MORTGAGE AMOUNT : 265,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,073.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,235.84 OUTSIDE CONV DATE :
LIFETIME RATE : 9.50000 MATURITY DATE : 10/01/26
CURRENT INT RATE: 9.50000 PRODUCT CODE : 002
LTV : 94.99800
----------------------------------------------------------------
0 0030884662 MORTGAGORS: ZAHEDI FIROOZ
REGION CODE ADDRESS : 1326 NORTH WEATHERLY DRIVE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90069
MORTGAGE AMOUNT : 474,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 474,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,480.98 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,753,500.00
P & I AMT: 13,284.23
UPB AMT: 1,751,018.96
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 173
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030884837 MORTGAGORS: NARROD STEVE
NARROD SHARON
REGION CODE ADDRESS : 1139 BOB-O-LINK
01 CITY : HIGHLAND PARK
STATE/ZIP : IL 60035
MORTGAGE AMOUNT : 225,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 225,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,770.08 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 74.50300
----------------------------------------------------------------
0 0030885370 MORTGAGORS: OSBORNE STEVE
OSBORNE DEBORAH
REGION CODE ADDRESS : 620 CREEKMORE COURT
01 CITY : WALNUT CREEK
STATE/ZIP : CA 94598
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,017.85 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 71.42800
----------------------------------------------------------------
0 0030885511 MORTGAGORS: DEEGAN THOMAS
DEEGAN HIROKO
REGION CODE ADDRESS : 3122 WHITE PEACH PLACE
01 CITY : FAIRFAX
STATE/ZIP : VA 22031
MORTGAGE AMOUNT : 275,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,450.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,973.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 84.99400
----------------------------------------------------------------
0 0030885586 MORTGAGORS: FERRIS ERIC
FERRIS JENNIFER
REGION CODE ADDRESS : 2207 MALCOLM AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90064
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,857.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,951.02 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030885701 MORTGAGORS: MC VAY BREATHITT
REGION CODE ADDRESS : 28329 MEADOW MESA LANE
01 CITY : ESCONDIDO
STATE/ZIP : CA 92026
MORTGAGE AMOUNT : 389,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 389,475.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,065.77 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 89.58620
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,413,150.00
P & I AMT: 10,778.08
UPB AMT: 1,412,783.10
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 174
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030885727 MORTGAGORS: BOILEAU MICHEL
BOILEAU MARIAN
REGION CODE ADDRESS : 19445 TAM LAKE COURT
01 CITY : BEND
STATE/ZIP : OR 97702
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 500,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,668.82 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 78.18600
----------------------------------------------------------------
0 0030885735 MORTGAGORS: ROBINSON RUSSELL
ROBINSON KIMBERLY
REGION CODE ADDRESS : 2554 JOSHUA COURT
01 CITY : OXNARD
STATE/ZIP : CA 93030
MORTGAGE AMOUNT : 223,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 223,717.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,741.08 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 89.54000
----------------------------------------------------------------
0 0030885750 MORTGAGORS: FU KAI
FU TAI
REGION CODE ADDRESS : 32391 WINCHESTER DRIVE
01 CITY : UNION CITY
STATE/ZIP : CA 94587
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,798.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,201.30 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030885768 MORTGAGORS: WAYLAND RANDY
WAYLAND MARY
REGION CODE ADDRESS : 13034 SEAGROVE STREET
01 CITY : SAN DIEGO
STATE/ZIP : CA 92130
MORTGAGE AMOUNT : 377,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 376,846.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,767.03 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.99800
----------------------------------------------------------------
0 0030885776 MORTGAGORS: WALLACE STEVEN
WALLACE JANET
REGION CODE ADDRESS : 412 WEST DESEO AVENUE
01 CITY : CAMARILLO
STATE/ZIP : CA 93010
MORTGAGE AMOUNT : 372,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 371,756.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,762.09 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,772,950.00
P & I AMT: 13,140.32
UPB AMT: 1,772,120.17
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 175
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030885784 MORTGAGORS: DAVIDSON MARK
DAVIDSON SUZANNE
REGION CODE ADDRESS : 4640 DORINDA ROAD
01 CITY : YORBA LINDA
STATE/ZIP : CA 92887
MORTGAGE AMOUNT : 231,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 231,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,696.47 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030885818 MORTGAGORS: MANGOSING ALEX
ALVAREZ NANCY
REGION CODE ADDRESS : 10 CALAVERA
01 CITY : IRVINE
STATE/ZIP : CA 92606
MORTGAGE AMOUNT : 285,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,608.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.10 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 84.98900
----------------------------------------------------------------
0 0030885842 MORTGAGORS: LAWTON JOSEPH
LAWTON MARY
REGION CODE ADDRESS : 2396 OLD RANCH ROAD
01 CITY : ESCONDIDO
STATE/ZIP : CA 92027
MORTGAGE AMOUNT : 232,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 232,055.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,764.89 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 79.98300
----------------------------------------------------------------
0 0030885891 MORTGAGORS: KIM DAVID
KIM MICHELLE
REGION CODE ADDRESS : 1554 HEMMINGWAY ROAD
01 CITY : SAN JOSE
STATE/ZIP : CA 95132
MORTGAGE AMOUNT : 333,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 333,087.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,503.98 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
0 0030886030 MORTGAGORS: PURVIS JOHN
PURVIS STEPHANIE
REGION CODE ADDRESS : 13947 SOUTH SPRINGS DRIVE
01 CITY : CLIFTON
STATE/ZIP : VA 22024
MORTGAGE AMOUNT : 232,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 231,832.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,642.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,314,500.00
P & I AMT: 9,704.53
UPB AMT: 1,313,783.44
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 176
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030886154 MORTGAGORS: LI SHIH-HAO
CHENG LILY
REGION CODE ADDRESS : 5099 FOREST VIEW DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95129
MORTGAGE AMOUNT : 318,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 318,202.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,420.07 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030886162 MORTGAGORS: LEAL MICHAEL
MADRID-LEAL MICHELLE
REGION CODE ADDRESS : 24 VEGA COURT
01 CITY : PACIFICA
STATE/ZIP : CA 94044
MORTGAGE AMOUNT : 226,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 226,259.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,720.80 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030886246 MORTGAGORS: NISSENBAUM BEVERLY
REGION CODE ADDRESS : 3734 CHESAPEAKE STREET NW
01 CITY : WASHINGTON
STATE/ZIP : DC 20016
MORTGAGE AMOUNT : 223,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 222,956.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,657.63 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030886253 MORTGAGORS: JORDON GREGORY
KENSHAW JOHNANNA
REGION CODE ADDRESS : 14526 MAC CLINTOCK DRIVE
01 CITY : GLENWOOD
STATE/ZIP : MD 21738
MORTGAGE AMOUNT : 256,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,323.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,859.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030886279 MORTGAGORS: KUHM FREDERICK
TUTTLE-KUHM JANE
REGION CODE ADDRESS : 4764 33RD STREET N
01 CITY : ARLINGTON
STATE/ZIP : VA 22207
MORTGAGE AMOUNT : 270,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,366.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,939.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,295,300.00
P & I AMT: 9,598.00
UPB AMT: 1,294,108.35
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 177
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030886295 MORTGAGORS: HERRLEIN EILEEN
REGION CODE ADDRESS : 519 NORTH JEFFERSON STREET
01 CITY : ARLINGTON
STATE/ZIP : VA 22205
MORTGAGE AMOUNT : 239,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,551.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,698.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0030886329 MORTGAGORS: SAG NIKOLAI
KHAYLO ELLONA
REGION CODE ADDRESS : 4-20 KENNETH AVENUE
01 CITY : FAIRLAWN
STATE/ZIP : NJ 07410
MORTGAGE AMOUNT : 225,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 224,867.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,750.03 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030886378 MORTGAGORS: TILCHIN MICHAEL
GREER LINDA
REGION CODE ADDRESS : 9616 MILLWOOD ROAD
01 CITY : BETHESDA
STATE/ZIP : MD 20817
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,571.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,247.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 76.54300
----------------------------------------------------------------
0 0030886386 MORTGAGORS: ZLOTNIKOFF STUART
ZLOTNIKOFF RAYMONDE
REGION CODE ADDRESS : 11512 TURNBRIDGE LANE
01 CITY : RESTON
STATE/ZIP : VA 20194
MORTGAGE AMOUNT : 292,125.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,769.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,246.19 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030886436 MORTGAGORS: DEMADIS GREGORY
DEMADIS BEVERLY
REGION CODE ADDRESS : 5 SCARBOROUGH ROAD
01 CITY : SIMSBURY
STATE/ZIP : CT 06070
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,616.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,253.80 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 65.06674
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,367,025.00
P & I AMT: 10,195.74
UPB AMT: 1,365,376.58
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 178
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030886444 MORTGAGORS: TOENSHOFF DONALD
REGION CODE ADDRESS : 6802 SPOUT LANE
01 CITY : FAIRFAX STATION
STATE/ZIP : VA 22039
MORTGAGE AMOUNT : 290,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,967.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,030.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030886469 MORTGAGORS: QUINN STEPHEN
QUINN CLAUDIA
REGION CODE ADDRESS : 1366 HUNTERSFIELD CLOSE
01 CITY : KESWICK
STATE/ZIP : VA 22947
MORTGAGE AMOUNT : 284,195.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,782.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,011.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030886550 MORTGAGORS: CIARROCCA PETER
CIARROCCA JENNIFER
REGION CODE ADDRESS : 3705 CENTER WAY
01 CITY : FAIRFAX
STATE/ZIP : VA 22033
MORTGAGE AMOUNT : 280,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,381.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,963.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030886584 MORTGAGORS: BAGCHI PRABIR
BAGCHI ALAKANANDA
REGION CODE ADDRESS : 10209 EISENHOWER LANE
01 CITY : GREAT FALLS
STATE/ZIP : VA 22066
MORTGAGE AMOUNT : 320,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 320,378.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,381.94 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030886592 MORTGAGORS: WIDJAJA HASAN
TAN TEN TZE
REGION CODE ADDRESS : 10400 LINDSAY AVENUE
01 CITY : CUPERTINO
STATE/ZIP : CA 95014
MORTGAGE AMOUNT : 235,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,724.35 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 55.29400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,411,195.00
P & I AMT: 10,111.73
UPB AMT: 1,409,510.67
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 179
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030886600 MORTGAGORS: ROZIN ALEXANDER
ROZIN ELENA
REGION CODE ADDRESS : 23 FINISTERRA
01 CITY : IRVINE
STATE/ZIP : CA 92614
MORTGAGE AMOUNT : 244,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,774.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 78.96700
----------------------------------------------------------------
0 0030886659 MORTGAGORS: BECK JOHN
BECK MARY
REGION CODE ADDRESS : 16 VIOLA TERRACE
01 CITY : WASHINGTON TOWNSHIP
STATE/ZIP : NJ 07675
MORTGAGE AMOUNT : 273,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,408.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,080.70 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030886709 MORTGAGORS: BOEHM SCOTT
BOEHM ANN
REGION CODE ADDRESS : 3801 MOORE PLACE
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22305
MORTGAGE AMOUNT : 281,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,790.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,112.19 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 94.99100
----------------------------------------------------------------
0 0030886808 MORTGAGORS: BOGGS ROBERT
BOGGS CAROLYN
REGION CODE ADDRESS : 8608 OAK BROOK LANE
01 CITY : FAIRFAX STATION
STATE/ZIP : VA 22039
MORTGAGE AMOUNT : 295,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,070.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,091.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.76900
----------------------------------------------------------------
0 0030886832 MORTGAGORS: STAYMAN DOUGLAS
REGION CODE ADDRESS : 4815 STONY FORD DRIVE
01 CITY : DALLAS
STATE/ZIP : TX 75287
MORTGAGE AMOUNT : 278,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,067.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,066.00 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,373,450.00
P & I AMT: 10,125.40
UPB AMT: 1,372,137.57
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 180
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030886840 MORTGAGORS: HADJY PANDER
HADJY DEBORAH
REGION CODE ADDRESS : 10109 GREENWICH WOOD DRIVE
01 CITY : NOKESVILLE
STATE/ZIP : VA 20181
MORTGAGE AMOUNT : 239,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,824.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,652.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030886899 MORTGAGORS: COMBS DONALD
COMBS SUSAN
REGION CODE ADDRESS : 103 FAITH DRIVE
01 CITY : HAMPSTEAD
STATE/ZIP : NH 03841
MORTGAGE AMOUNT : 277,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,381.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,134.12 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 89.95300
----------------------------------------------------------------
0 0030886931 MORTGAGORS: DWYER BARRY
DWYER ELIZABETH
REGION CODE ADDRESS : 44161 BRISTOW CIRCLE
01 CITY : ASHBURN
STATE/ZIP : VA 20147
MORTGAGE AMOUNT : 241,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,306.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,731.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 94.99000
----------------------------------------------------------------
0 0030886949 MORTGAGORS: ASAUD JEFFREY
REGION CODE ADDRESS : 4192 MORNING STAR DRIVE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92649
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,825.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,907.79 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 50.98039
----------------------------------------------------------------
0 0030886956 MORTGAGORS: DYE MICHAEL
REGION CODE ADDRESS : 4280 DOVE POINT
01 CITY : DULUTH,
STATE/ZIP : GA 30136
MORTGAGE AMOUNT : 249,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,305.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,810.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 84.99000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,268,150.00
P & I AMT: 9,236.08
UPB AMT: 1,266,643.86
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 181
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030886980 MORTGAGORS: PARK CRAIG
PARK PATRICIA
REGION CODE ADDRESS : 20784 RAINSBORO DRIVE
01 CITY : ASHBURN
STATE/ZIP : VA 20147
MORTGAGE AMOUNT : 228,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 228,176.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,637.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 94.98100
----------------------------------------------------------------
0 0030887129 MORTGAGORS: MEISNER DAVID
MEISNER NANCY
REGION CODE ADDRESS : 17972 FERNPOINT CIRCLE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92647
MORTGAGE AMOUNT : 304,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 304,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,205.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030887285 MORTGAGORS: ROE SAUL
HULTMAN LORETTA
REGION CODE ADDRESS : 735 LA MIRADA AVENUE
01 CITY : SAN MARINO
STATE/ZIP : CA 91108
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,970.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 49.74300
----------------------------------------------------------------
0 0030887327 MORTGAGORS: O'LEARY KATHLEEN
REGION CODE ADDRESS : 30642 MIDDLECREEK CIRCLE
01 CITY : DAPHNE
STATE/ZIP : AL 36526
MORTGAGE AMOUNT : 234,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,900.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,679.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030887335 MORTGAGORS: PERRY SARAH
MATSUDA PAUL
REGION CODE ADDRESS : 220 HAZEL AVENUE
01 CITY : MILL VALLEY
STATE/ZIP : CA 94941
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 379,731.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,722.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 60.99500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,422,100.00
P & I AMT: 10,214.47
UPB AMT: 1,421,008.64
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 182
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030887343 MORTGAGORS: MEEHAN WILLIAM
MULHERIN KATHLEEN
REGION CODE ADDRESS : 118-120 HOFFMAN AVENUE
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94114
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,647.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,582.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030887376 MORTGAGORS: YOUNG EDDIE
YOUNG DARLENE
REGION CODE ADDRESS : 22 PISA COURT
01 CITY : SOUTH SAN FRANCISCO
STATE/ZIP : CA 94080
MORTGAGE AMOUNT : 381,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 380,731.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,729.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.88250
----------------------------------------------------------------
0 0030887392 MORTGAGORS: DAVIES ROSS
DAVIES ALISON
REGION CODE ADDRESS : 1020 ALICANTE DRIVE
01 CITY : DANVILLE
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,813.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,891.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030887426 MORTGAGORS: WILLIAMSON WESLEY
WILLIAMSON JONI
REGION CODE ADDRESS : 1863 NASH DRIVE
01 CITY : SAN MATEO
STATE/ZIP : CA 94401
MORTGAGE AMOUNT : 247,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,333.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,816.07 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030887491 MORTGAGORS: THAYNE PAUL
THAYNE JUDI
REGION CODE ADDRESS : 1442 INWOOD COURT
01 CITY : CAMPBELL
STATE/ZIP : CA 95008
MORTGAGE AMOUNT : 252,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,734.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,877.78 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,645,400.00
P & I AMT: 11,896.77
UPB AMT: 1,644,260.36
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 183
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030887517 MORTGAGORS: WILLIAMS JEFF
WILLIAMS CHRISTINE
REGION CODE ADDRESS : 24683 VIA BUENA SUERTE
01 CITY : YORBA LINDA
STATE/ZIP : CA 92887
MORTGAGE AMOUNT : 233,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,547.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,735.22 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030887541 MORTGAGORS: WAGNER DANIEL
WAGNER MEELING
REGION CODE ADDRESS : 25427 VERNE COURT
01 CITY : STEVENSON RANCH
STATE/ZIP : CA 91831
MORTGAGE AMOUNT : 240,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,805.30 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 79.99200
----------------------------------------------------------------
0 0030887558 MORTGAGORS: DEY ARMISTEAD
DEY MARY
REGION CODE ADDRESS : 1371 EMORY PLACE
01 CITY : NORFOLK
STATE/ZIP : VA 23509
MORTGAGE AMOUNT : 335,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 334,748.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,459.58 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030887566 MORTGAGORS: GIESE MARVIN
GIESE CLAUDIA
REGION CODE ADDRESS : 2321 GUN AND ROD CIRCLE
01 CITY : BRENHAM
STATE/ZIP : TX 77833
MORTGAGE AMOUNT : 243,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,841.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,804.27 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030887731 MORTGAGORS: KELLER HAPPY
KELLER PATRICIA
REGION CODE ADDRESS : 2392 OLD RANCH ROAD
01 CITY : ESCONDIDO
STATE/ZIP : CA 92027
MORTGAGE AMOUNT : 226,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 226,317.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,722.33 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 79.96600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,278,800.00
P & I AMT: 9,526.70
UPB AMT: 1,277,754.16
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 184
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030887749 MORTGAGORS: PAZ HUGO
PAZ ELIZABETH
REGION CODE ADDRESS : 48881 CRESTVIEW COMMON
01 CITY : FREMONT
STATE/ZIP : CA 94539
MORTGAGE AMOUNT : 492,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 491,669.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,610.13 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030887780 MORTGAGORS: SWEET JAMES
SWEET NURY
REGION CODE ADDRESS : 3 HOLLYLEAF
01 CITY : ALISO VIEJO
STATE/ZIP : CA 92656
MORTGAGE AMOUNT : 240,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,015.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,869.03 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 94.98300
----------------------------------------------------------------
0 0030887830 MORTGAGORS: SMITH KENNETH
CLAEYS MARY
REGION CODE ADDRESS : 1912 FM 3048
01 CITY : JOSHUA
STATE/ZIP : TX 76058
MORTGAGE AMOUNT : 138,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 138,663.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,054.61 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030887863 MORTGAGORS: BERNATH RHODA
REGION CODE ADDRESS : 3598 SW 175 AVENUE
01 CITY : MIRAMAR
STATE/ZIP : FL 33029
MORTGAGE AMOUNT : 266,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,051.08 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 89.99900
----------------------------------------------------------------
0 0030887871 MORTGAGORS: BELL JOHN
BELL JULIANNE
REGION CODE ADDRESS : 18040 S. SHILOHLANE
01 CITY : OREGON CITY
STATE/ZIP : OR 97045
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,820.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,189.01 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,425,800.00
P & I AMT: 10,773.86
UPB AMT: 1,424,919.85
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 185
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030887889 MORTGAGORS: CARTER LESLIE
BAILEY MARK .
REGION CODE ADDRESS : 4909 BAYWAY DRIVE WEST
01 CITY : TAMPA
STATE/ZIP : FL 33629
MORTGAGE AMOUNT : 301,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 301,412.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,292.38 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030887905 MORTGAGORS: O' CONNELL DAVID
BURNS KERENA
REGION CODE ADDRESS : 19812 SCENIC BAY LANE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92648
MORTGAGE AMOUNT : 360,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,838.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,706.82 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 89.98501
----------------------------------------------------------------
0 0030887921 MORTGAGORS: EDDY ROBERT
EDDY VICTORIA
REGION CODE ADDRESS : 6755 GENTRY OAKS PLACE
01 CITY : SAN JOSE
STATE/ZIP : CA 95138
MORTGAGE AMOUNT : 257,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,385.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,934.89 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0030887947 MORTGAGORS: CATENACCI HENRY
CATENACCI KATHARINA
REGION CODE ADDRESS : 3 KIRKVIEW CIRCLE
01 CITY : WESTFIELD
STATE/ZIP : NJ 07090
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 360,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,832.13 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030888176 MORTGAGORS: CHAMBERS ERIC
CHAMBERS MARY
REGION CODE ADDRESS : 7120 CHARDEN COURT
01 CITY : CLARKSVILLE
STATE/ZIP : MD 21029
MORTGAGE AMOUNT : 318,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 317,910.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,308.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 79.84880
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,597,800.00
P & I AMT: 12,074.48
UPB AMT: 1,596,547.60
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 186
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030888309 MORTGAGORS: HERSHFIELD DAVID
HERSHFIELD EDITH
REGION CODE ADDRESS : 123 BRIAR PLACE
01 CITY : DANVILLE
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,814.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,108.70 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030888440 MORTGAGORS: JOHNSON STEVE
CHAN LORITA
REGION CODE ADDRESS : 1650 RAMONA AVENUE
01 CITY : GLENDALE
STATE/ZIP : CA 91208
MORTGAGE AMOUNT : 305,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 305,754.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,298.50 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 89.98500
----------------------------------------------------------------
0 0030888507 MORTGAGORS: PRINCE EDWARD
PRINCE ILENE
REGION CODE ADDRESS : 8130 CREIGHTON AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90045
MORTGAGE AMOUNT : 236,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,690.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,752.30 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030888572 MORTGAGORS: SITTON MICHAEL
SITTON CYNTHIA
REGION CODE ADDRESS : 70 ROCKROSE
01 CITY : ALISO VIEJO
STATE/ZIP : CA 92656
MORTGAGE AMOUNT : 256,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,329.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,950.73 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 84.98600
----------------------------------------------------------------
0 0030888606 MORTGAGORS: WESTENKIRCHNER DAVID
WESTENKIRCHNER ROBBY
REGION CODE ADDRESS : 9180 MALLARD POINT
01 CITY : ZIONSVILLE
STATE/ZIP : IN 46077
MORTGAGE AMOUNT : 327,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 326,337.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,399.42 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 72.66600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,409,600.00
P & I AMT: 10,509.65
UPB AMT: 1,407,926.50
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 187
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030888622 MORTGAGORS: STEPHENSON FIONA
STEPHENSON OLIVER
REGION CODE ADDRESS : 23 CONCORD ROAD
01 CITY : WAYLAND
STATE/ZIP : MA 01778
MORTGAGE AMOUNT : 274,125.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,755.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,011.43 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 85.00000
----------------------------------------------------------------
0 0030888630 MORTGAGORS: SETHNESS CLIFFORD
SETHNESS MARIA
REGION CODE ADDRESS : 6814 EAST MERCER WAY
01 CITY : MERCER ISLAND
STATE/ZIP : WA 98040
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 358,461.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,641.55 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030888648 MORTGAGORS: SIKES KINSLEY
REGION CODE ADDRESS : 2010 BROOK FOREST CT
01 CITY : ALPHARETTA
STATE/ZIP : GA 30202
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,995.84 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030888655 MORTGAGORS: PENNINGTON GLEN
PENNINGTON KATE
REGION CODE ADDRESS : 155 AKENSIDE ROAD
01 CITY : RIVERSIDE
STATE/ZIP : IL 60546
MORTGAGE AMOUNT : 309,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 308,972.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,441.04 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/22
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030888663 MORTGAGORS: CARLIN PATRICK
CARLIN DIANA
REGION CODE ADDRESS : 3417 KINGSWOOD FOREST LANE
01 CITY : BEAVERCREEK
STATE/ZIP : OH 45440
MORTGAGE AMOUNT : 223,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 223,564.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,642.90 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.99200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,439,625.00
P & I AMT: 10,732.76
UPB AMT: 1,436,754.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 188
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030888689 MORTGAGORS: SAGER DENNIS
SAGER JUDITH
REGION CODE ADDRESS : 9825 AQUILA ROAD
01 CITY : BLOOMINGTON
STATE/ZIP : MN 55438
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,650.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,128.20 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 74.46808
----------------------------------------------------------------
0 0030888697 MORTGAGORS: ZIMMERMAN ERROL
ZIMMERMAN CAROL
REGION CODE ADDRESS : 46437 MORNINGSTON ROAD
01 CITY : CANTON
STATE/ZIP : MI 48188
MORTGAGE AMOUNT : 291,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,337.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,186.19 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 88.18100
----------------------------------------------------------------
0 0030888713 MORTGAGORS: FERGUSON BARRINGTON
FERGUSON MARVA
REGION CODE ADDRESS : 4839 KENSINGTON CIRCLE
01 CITY : CORAL SPRINGS
STATE/ZIP : FL 33076
MORTGAGE AMOUNT : 233,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 230,243.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,770.97 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 89.98900
----------------------------------------------------------------
0 0030888739 MORTGAGORS: RALLIS MICHAEL
RALLIS DEBRA
REGION CODE ADDRESS : 2519 NORTH LUMINA AVE
01 CITY : WRIGHTSVILLE BEACH
STATE/ZIP : NC 28480
MORTGAGE AMOUNT : 454,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 453,056.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,291.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 04/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 66.76400
----------------------------------------------------------------
0 0030888952 MORTGAGORS: GORDAN ALLAN
MONK NANCY
REGION CODE ADDRESS : 12271 CHIANTI DRIVE
01 CITY : ROSSMOOR
STATE/ZIP : CA 90720
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,751.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,040.29 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,658,000.00
P & I AMT: 12,417.47
UPB AMT: 1,653,039.98
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 189
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030889117 MORTGAGORS: WELSH JEFFREY
WELSH CYNTHIA
REGION CODE ADDRESS : 23 PASTORA
01 CITY : FOOTHILL RANCH (AREA
STATE/ZIP : CA 92610
MORTGAGE AMOUNT : 224,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 224,067.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,743.81 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030889125 MORTGAGORS: WESTLAND JOHN
NELSON-WESTLAND ELIZABETH
REGION CODE ADDRESS : 31505 PASEO CHRISTINA
01 CITY : SAN JUAN CAPISTRANO
STATE/ZIP : CA 92675
MORTGAGE AMOUNT : 370,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 369,787.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,910.80 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030889133 MORTGAGORS: AHRENS SCOTT
D'ADDARIO AHRENS JULIE
REGION CODE ADDRESS : 1970 FALCON RIDGE DRIVE
01 CITY : PETALUMA
STATE/ZIP : CA 94954
MORTGAGE AMOUNT : 269,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,768.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,980.80 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 89.99833
----------------------------------------------------------------
0 0030889141 MORTGAGORS: BEITEL BRADLEY
BEITEL LYNDA
REGION CODE ADDRESS : 14998 DONNER PASS ROAD
01 CITY : TRUCKEE
STATE/ZIP : CA 96161
MORTGAGE AMOUNT : 316,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 315,803.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,401.83 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 63.20000
----------------------------------------------------------------
0 0030889257 MORTGAGORS: NGUYEN MINH
NGUYEN HIEN
REGION CODE ADDRESS : 2375 LASS DRIVE
01 CITY : SANTA CLARA
STATE/ZIP : CA 95054
MORTGAGE AMOUNT : 283,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,114.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,103.49 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 79.97967
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,463,450.00
P & I AMT: 11,140.73
UPB AMT: 1,462,541.90
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 190
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030889307 MORTGAGORS: KEMP K
KEMP ELIZABETH
REGION CODE ADDRESS : 1563 MARIPOSA AVENUE
01 CITY : PALO ALTO
STATE/ZIP : CA 94306
MORTGAGE AMOUNT : 348,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 347,754.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,493.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030889315 MORTGAGORS: CHEN JAMES
XIAO-FENG MA DAWN
REGION CODE ADDRESS : 1678 CANYON VIEW DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95132
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,790.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,464.15 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030889349 MORTGAGORS: O'KEEFE DONALD
O'KEEFE AMY
REGION CODE ADDRESS : 7029 HERRINGTON AVE NE
01 CITY : ROCKFORD
STATE/ZIP : MI 49306
MORTGAGE AMOUNT : 234,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,250.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,760.97 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030889356 MORTGAGORS: STORBECK CHRIS
STORBECK JANET
REGION CODE ADDRESS : 213 PALISADES
01 CITY : PEACHTREE CITY
STATE/ZIP : GA 30269
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,474.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,466.50 OUTSIDE CONV DATE :
LIFETIME RATE : 8.87500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.87500 PRODUCT CODE : 002
LTV : 79.48700
----------------------------------------------------------------
0 0030889372 MORTGAGORS: PRICE THOMAS
PRICE CYNTHIA
REGION CODE ADDRESS : N68 W30699 SWALLOW LANE
01 CITY : MERTON
STATE/ZIP : WI 53029
MORTGAGE AMOUNT : 262,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,841.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,014.55 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 77.05800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,482,400.00
P & I AMT: 11,199.28
UPB AMT: 1,481,111.81
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 191
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030889398 MORTGAGORS: STALLONE FRANK
STALLONE CHRISTINA
REGION CODE ADDRESS : 38 WELLINGTON ROAD
01 CITY : GARDEN CITY
STATE/ZIP : NY 11530
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,752.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,610.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 78.26000
----------------------------------------------------------------
0 0030889513 MORTGAGORS: BLAKE WARREN
BLAKE DORIS
REGION CODE ADDRESS : 4102 DRUMMOND STREET
01 CITY : HOUSTON
STATE/ZIP : TX 77025
MORTGAGE AMOUNT : 224,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 223,853.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,663.20 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030889596 MORTGAGORS: NOTARIANNI MARGARET
REGION CODE ADDRESS : 294 ADAMS DRIVE
01 CITY : WAYNE
STATE/ZIP : PA 19087
MORTGAGE AMOUNT : 242,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,056.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,736.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030889604 MORTGAGORS: GAETA STEVEN
GAETA KIM
REGION CODE ADDRESS : 1060 FOX CREEK DRIVE
01 CITY : SARASOTA
STATE/ZIP : FL 34240
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,004.75 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030889661 MORTGAGORS: MAO HSINHUI
CHEN SHIN
REGION CODE ADDRESS : 5752 TAN OAK DRIVE
01 CITY : FREMONT
STATE/ZIP : CA 94555
MORTGAGE AMOUNT : 230,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 229,845.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,687.66 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 69.06900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,326,400.00
P & I AMT: 9,702.45
UPB AMT: 1,325,508.10
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 192
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030889687 MORTGAGORS: KRUPA JOSEPH
KRUPA MICHELLE
REGION CODE ADDRESS : 102 GAZEBO COURT
01 CITY : WILMINGTON
STATE/ZIP : NC 28403
MORTGAGE AMOUNT : 293,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,529.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,228.92 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 94.29200
----------------------------------------------------------------
0 0030889695 MORTGAGORS: LUCIANO LEONARDO
LUCIANO ZURINA
REGION CODE ADDRESS : 18403 SPRINGWOOD DRIVE
01 CITY : GRAYSLAKE
STATE/ZIP : IL 60030
MORTGAGE AMOUNT : 258,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,185.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,987.64 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 94.99400
----------------------------------------------------------------
0 0030889729 MORTGAGORS: OLSON TIMOTHY
OLSON TERESA
REGION CODE ADDRESS : 1090 S. BLUE LAKE AVENUE
01 CITY : DELAND
STATE/ZIP : FL 32724
MORTGAGE AMOUNT : 235,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,675.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,703.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 94.96800
----------------------------------------------------------------
0 0030889752 MORTGAGORS: COBB GREGORY
COBB SHEILA
REGION CODE ADDRESS : 4710 STONEBRIDGE COURT
01 CITY : COLUMBUS
STATE/ZIP : IN 47201
MORTGAGE AMOUNT : 281,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,416.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,037.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 04/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 73.96600
----------------------------------------------------------------
0 0030889810 MORTGAGORS: CRANNEY TOM
KAUFMAN-CRANNEY MARY
REGION CODE ADDRESS : 9714 MARMOUNT DR NW
01 CITY : SEATTLE
STATE/ZIP : WA 98117
MORTGAGE AMOUNT : 324,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,362.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,383.27 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,392,550.00
P & I AMT: 10,341.20
UPB AMT: 1,390,169.36
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 193
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030889836 MORTGAGORS: DACANAY LOREN
WELLMAN PEGGY
REGION CODE ADDRESS : 881 CENTURY WAY
01 CITY : DANVILLE
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 279,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,000.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030889869 MORTGAGORS: PATTERSON MYRON
PATTERSON DIANA
REGION CODE ADDRESS : N101 W14676 RAINTREE DRIVE
01 CITY : GERMANTOWN
STATE/ZIP : WI 53022
MORTGAGE AMOUNT : 251,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,702.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,952.25 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 89.96400
----------------------------------------------------------------
0 0030889877 MORTGAGORS: POWELL JEFFREY
POWELL BARBARA
REGION CODE ADDRESS : 627 WASHINGTONIA DR.
01 CITY : SAN MARCOS
STATE/ZIP : CA 92069
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,893.19 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030889893 MORTGAGORS: KAPINOS STEVEN
KAPINOS DEBORAH
REGION CODE ADDRESS : 17515 WHITESTONE DRIVE
01 CITY : TALL TIMBERS
STATE/ZIP : MD 20690
MORTGAGE AMOUNT : 271,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,331.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,063.60 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
0 0030889935 MORTGAGORS: BERGMANN MICHAEL
REGION CODE ADDRESS : 25436 LAKE RD
01 CITY : BAY VILLAGE
STATE/ZIP : OH 44140
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,621.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,138.40 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,341,700.00
P & I AMT: 10,047.66
UPB AMT: 1,340,855.72
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 194
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030889968 MORTGAGORS: STARK RONALD
STARK JILL
REGION CODE ADDRESS : 32696 WOODSIDE DRIVE
01 CITY : EVERGREEN
STATE/ZIP : CO 80439
MORTGAGE AMOUNT : 415,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 414,441.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,045.12 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 61.02900
----------------------------------------------------------------
0 0030889984 MORTGAGORS: NANNERY WILLIAM
NANNERY MAURA
REGION CODE ADDRESS : 40 ABBEY LANE
01 CITY : CANTON
STATE/ZIP : MA 02021
MORTGAGE AMOUNT : 261,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,970.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,918.79 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 76.68600
----------------------------------------------------------------
0 0030890008 MORTGAGORS: CLARK RICHARD
CLARK TERESA
REGION CODE ADDRESS : 72890 SOMERA RD
01 CITY : PALM DESERT
STATE/ZIP : CA 92260
MORTGAGE AMOUNT : 223,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 223,100.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,638.13 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030890149 MORTGAGORS: GRIMES DENNIS
GRIMES LORA
REGION CODE ADDRESS : 123 SERRES DRIVE
01 CITY : SONOMA
STATE/ZIP : CA 95476
MORTGAGE AMOUNT : 230,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 229,848.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,707.75 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030890248 MORTGAGORS: HANEY PETER
HANEY HELEN
REGION CODE ADDRESS : 200 CHIMNEY ROCK ROAD
01 CITY : HOUSTON
STATE/ZIP : TX 77024
MORTGAGE AMOUNT : 254,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,079.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,865.60 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.99056
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,384,000.00
P & I AMT: 10,175.39
UPB AMT: 1,382,439.70
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 195
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030890255 MORTGAGORS: PATTERSON C.
PATTERSON SUSAN
REGION CODE ADDRESS : 154 EAGLES CLUB DRIVE
01 CITY : STOCKBRIDGE
STATE/ZIP : GA 30281
MORTGAGE AMOUNT : 267,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,433.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,033.95 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030890289 MORTGAGORS: MCKAY JAMES
MCKAY MARCIA
REGION CODE ADDRESS : 8601 IRON GATE COURT
01 CITY : FORT WORTH
STATE/ZIP : TX 76179
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,836.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,790.39 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030890396 MORTGAGORS: ELZEN WALTER
ELZEN JONNA
REGION CODE ADDRESS : 508 SAGEWOOD DRIVE
01 CITY : COLLIERVILLE
STATE/ZIP : TN 38017
MORTGAGE AMOUNT : 223,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 223,061.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,696.48 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 94.97800
----------------------------------------------------------------
0 0030890677 MORTGAGORS: ASLESON GILBERT
ASLESON ELLEN
REGION CODE ADDRESS : 6792 LAZY RIVER WAY
01 CITY : SAN JOSE
STATE/ZIP : CA 95120
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,777.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 54.54500
----------------------------------------------------------------
0 0030890693 MORTGAGORS: BRAND HAL
BRAND PATRICIA
REGION CODE ADDRESS : 23372 VIA ALONDRA
01 CITY : COTO DE CAZA AREA
STATE/ZIP : CA 92679
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,795.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,404.05 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,354,800.00
P & I AMT: 10,022.51
UPB AMT: 1,353,904.54
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 196
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030890719 MORTGAGORS: WURTELE MORTON
WURTELE ZIVIA
REGION CODE ADDRESS : 1317 SHATTUCK AVE
01 CITY : BERKELEY
STATE/ZIP : CA 94709
MORTGAGE AMOUNT : 485,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 485,265.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,520.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 74.99613
----------------------------------------------------------------
0 0030890735 MORTGAGORS: FERRO EMANUEL
REGION CODE ADDRESS : 206 GRAND VIEW STREET
01 CITY : LAGUNA BEACH
STATE/ZIP : CA 92651
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,841.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,084.48 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030890750 MORTGAGORS: RUSSELL DAVID
RUSSELL GLENYCE
REGION CODE ADDRESS : 12570 PATHOS LANE
01 CITY : SAN DIEGO
STATE/ZIP : CA 92129
MORTGAGE AMOUNT : 294,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,326.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,290.59 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030890784 MORTGAGORS: BARCLAY PAUL
BARCLAY JOAN
REGION CODE ADDRESS : LOT 2 # 1 CARTER RD
01 CITY : SHREWSBURY
STATE/ZIP : MA 01545
MORTGAGE AMOUNT : 227,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 227,743.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,652.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 94.99700
----------------------------------------------------------------
0 0030890792 MORTGAGORS: POST JOHN
POST JANE
REGION CODE ADDRESS : 13073 ELDER BERRY COURT
01 CITY : APPLE VALLEY
STATE/ZIP : MN 55124
MORTGAGE AMOUNT : 219,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 219,163.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,666.84 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 94.91900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,495,300.00
P & I AMT: 11,215.28
UPB AMT: 1,494,340.54
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 197
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030890826 MORTGAGORS: BESS CHRIS
BESS YVETTE
REGION CODE ADDRESS : 2209 CALLE DE PLATA
01 CITY : SAN DIMAS
STATE/ZIP : CA 91773
MORTGAGE AMOUNT : 283,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,032.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,202.70 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 94.99800
----------------------------------------------------------------
0 0030890875 MORTGAGORS: WOLK STEVEN
WOLK LINDA
REGION CODE ADDRESS : 33 NORTH FINLEY AVNUE
01 CITY : BERNARDS TOWNSHIP
STATE/ZIP : NJ 07920
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,158.61 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030890982 MORTGAGORS: MOORE LUCY
REGION CODE ADDRESS : 798 SYLVANER DRIVE
01 CITY : PLEASANTON
STATE/ZIP : CA 94566
MORTGAGE AMOUNT : 243,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,831.21 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 72.76100
----------------------------------------------------------------
0 0030891071 MORTGAGORS: CASIPLE ESTELITA
EVASCO ESPERANZA
REGION CODE ADDRESS : 123 WOODCLIFF BLVD
01 CITY : MORGANVILLE
STATE/ZIP : NJ 07751
MORTGAGE AMOUNT : 244,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,815.41 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 94.76700
----------------------------------------------------------------
0 0030891246 MORTGAGORS: HULSEY JOHN
HULSEY CINDY
REGION CODE ADDRESS : 3230 DUNLOP DRIVE
01 CITY : GAINESVILLE
STATE/ZIP : GA 30501
MORTGAGE AMOUNT : 464,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 463,704.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,485.88 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 60.81200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,519,450.00
P & I AMT: 11,493.81
UPB AMT: 1,518,986.92
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 198
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030891337 MORTGAGORS: PEGLOW STEVEN
PEGLOW MONA
REGION CODE ADDRESS : 460 LAMONT WAY
01 CITY : DANVILLE
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 348,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 347,760.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,523.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030891428 MORTGAGORS: MILAZZO VINCENT
MILAZZO CONSUELO
REGION CODE ADDRESS : 6475 VINEYARD DRIVE
01 CITY : HOLLISTER
STATE/ZIP : CA 95023
MORTGAGE AMOUNT : 390,756.00 OPTION TO CONVERT :
UNPAID BALANCE : 388,718.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,052.78 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 12/01/24
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 78.15120
----------------------------------------------------------------
0 0030891519 MORTGAGORS: KRASHANOFF LEONID
KRASHANOFF LAURIE
REGION CODE ADDRESS : 1105 BUTTERFIELD RD
01 CITY : SAN ANSELMO
STATE/ZIP : CA 94960
MORTGAGE AMOUNT : 374,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 374,354.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,781.39 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 79.70200
----------------------------------------------------------------
0 0030891527 MORTGAGORS: GONNELLA THOMAS
GONNELLA ARLENE
REGION CODE ADDRESS : 90 FOREST DRIVE
01 CITY : MILLBURN
STATE/ZIP : NJ 07078
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 648,715.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,826.24 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 67.35700
----------------------------------------------------------------
0 0030891766 MORTGAGORS: CANDLEINO ANTHONY
VANNOTE EUGENE
REGION CODE ADDRESS : 1537 KNOTTINGHAM KNOLL DRIVE
01 CITY : JACKSONVILLE
STATE/ZIP : FL 32225
MORTGAGE AMOUNT : 243,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,740.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,006,356.00
P & I AMT: 14,924.53
UPB AMT: 2,002,549.93
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 199
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030891840 MORTGAGORS: CORRALES DANIEL
REGION CODE ADDRESS : 16801 GREENVIEW LANE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92649
MORTGAGE AMOUNT : 229,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 228,846.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,680.32 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 69.60400
----------------------------------------------------------------
0 0030892038 MORTGAGORS: BALAN CYRUS
BALAN MARYBEL
REGION CODE ADDRESS : 10941 MEANDERVIEW DRIVE
01 CITY : MANASSAS
STATE/ZIP : VA 20111
MORTGAGE AMOUNT : 238,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,062.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,707.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.76000
----------------------------------------------------------------
0 0030892046 MORTGAGORS: MOSS DAVID
MOSS MONA
REGION CODE ADDRESS : 5 STONEHOUSE DRIVE
01 CITY : READINGTON TOWNSHIP
STATE/ZIP : NJ 08889
MORTGAGE AMOUNT : 240,728.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,558.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,724.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030892079 MORTGAGORS: BOGERT ARTHUR
BOGERT MARYANN
REGION CODE ADDRESS : 749 SHEARER STREET
01 CITY : NORTH WALES
STATE/ZIP : PA 19454
MORTGAGE AMOUNT : 222,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 222,642.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,596.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030892095 MORTGAGORS: SCHWARTZ STEVEN
SCHWARTZ FRANCINE
REGION CODE ADDRESS : 208 HAZELTINE CIRCLE
01 CITY : WHITPAIN TOWNSHIP
STATE/ZIP : PA 19422
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,592.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,063.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 87.93893
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,218,928.00
P & I AMT: 8,772.29
UPB AMT: 1,217,701.74
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 200
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030892145 MORTGAGORS: SCOTT MICHAEL
SCOTT ELIZABETH
REGION CODE ADDRESS : 204 RIDGEWOOD COURT N.E.
01 CITY : VIENNA
STATE/ZIP : VA 22180
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,771.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,494.80 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030892186 MORTGAGORS: GLACOMIN JON
GLACOMIN NANETTE
REGION CODE ADDRESS : 1N 559 TURNBERRY LANE
01 CITY : WINFIELD
STATE/ZIP : IL 60190
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,823.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,004.75 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 83.07600
----------------------------------------------------------------
0 0030892202 MORTGAGORS: WALDBEESSER TERRY
REGION CODE ADDRESS : 8901 LINTON LANE
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22308
MORTGAGE AMOUNT : 292,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,106.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,146.27 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030892301 MORTGAGORS: DYE CHARLES
ROCKEY NANCY
REGION CODE ADDRESS : 10782 CARILLON COURT
01 CITY : SAN DIEGO
STATE/ZIP : CA 92131
MORTGAGE AMOUNT : 242,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,736.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,782.32 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 12/01/26
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 89.99600
----------------------------------------------------------------
0 0030892327 MORTGAGORS: BISHOP WAYMAN
BISHOP BARBARA
REGION CODE ADDRESS : 6240 STUBBS BRIDGE RD
01 CITY : SPOTSYLVANIA
STATE/ZIP : VA 22553
MORTGAGE AMOUNT : 337,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 337,273.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,476.46 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,482,900.00
P & I AMT: 10,904.60
UPB AMT: 1,480,710.95
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 201
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030892368 MORTGAGORS: KEPPLE ALAN
LUCAS CAROL
REGION CODE ADDRESS : 3800 DENSMORE COURT
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22309
MORTGAGE AMOUNT : 298,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 298,589.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,140.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030892392 MORTGAGORS: HUFFMAN HALDON
HUFFMAN BETTY
REGION CODE ADDRESS : 4296 CLUB COURSE DR
01 CITY : N. CHARLESTON
STATE/ZIP : SC 29420
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,327.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,819.74 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 03/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 62.00000
----------------------------------------------------------------
0 0030892434 MORTGAGORS: NELSON GARY
NELSON MARY
REGION CODE ADDRESS : 9106 OCTAVIA COURT
01 CITY : SPRINGFIELD
STATE/ZIP : VA 22153
MORTGAGE AMOUNT : 234,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,996.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,738.56 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 94.98900
----------------------------------------------------------------
0 0030892442 MORTGAGORS: TOENNIES PETER
TOENNIES NANCY
REGION CODE ADDRESS : 130 F AVENUE
01 CITY : CORONADO
STATE/ZIP : CA 92118
MORTGAGE AMOUNT : 333,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 333,526.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,448.94 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030892459 MORTGAGORS: DI MUZIO PAUL
DI MUZIO CARLA
REGION CODE ADDRESS : 1510 ANNA MARIE CIRCLE
01 CITY : UPPER DUBLIN TOWNSHIP
STATE/ZIP : PA 19002
MORTGAGE AMOUNT : 345,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 345,356.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,475.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,460,300.00
P & I AMT: 10,623.80
UPB AMT: 1,458,795.76
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 202
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030892467 MORTGAGORS: PEYTON ARTHUR
PEYTON DANA
REGION CODE ADDRESS : 15811 HUNTON LANE
01 CITY : HAYMARKET
STATE/ZIP : VA 20169
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,782.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,206.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030892475 MORTGAGORS: DARNELL WILLIAM
ANZAR UZMA
REGION CODE ADDRESS : 1509 N. HERNDON STREET
01 CITY : ARLINGTON
STATE/ZIP : VA 22201
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,553.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,149.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.15500
----------------------------------------------------------------
0 0030892483 MORTGAGORS: LAND JAMES
LAND HELENE
REGION CODE ADDRESS : 1390 LE BOUTILLIER
01 CITY : TREDYFFRIN TOWNSHIP
STATE/ZIP : PA 19355
MORTGAGE AMOUNT : 462,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 461,745.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,312.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030892491 MORTGAGORS: FENERTY D.O. WILLIAM
FENERTY KATHLEEN
REGION CODE ADDRESS : 1721 ASPENWOOD LANE
01 CITY : HUNTINGDON BEACH
STATE/ZIP : CA 92648
MORTGAGE AMOUNT : 272,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,334.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,095.29 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 75.90500
----------------------------------------------------------------
0 0030892509 MORTGAGORS: GRAY DANIEL
GRAY PAULINA
REGION CODE ADDRESS : 4651 MADERA DR
01 CITY : LA VERNE
STATE/ZIP : CA 91750
MORTGAGE AMOUNT : 243,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,845.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,825.58 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,585,900.00
P & I AMT: 11,589.35
UPB AMT: 1,584,260.77
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 203
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030892517 MORTGAGORS: YAFFE JOSEPH
YAFFE KATHARINE
REGION CODE ADDRESS : 810 SPIRIT
01 CITY : COSTA MESA
STATE/ZIP : CA 92626
MORTGAGE AMOUNT : 275,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,764.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,024.83 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 94.98500
----------------------------------------------------------------
0 0030892988 MORTGAGORS: SNYDER CHRISTOPHER
SNYDER KIMBERLY
REGION CODE ADDRESS : 1509 CAMDEN AVENUE
01 CITY : SALISBURY
STATE/ZIP : MD 21801
MORTGAGE AMOUNT : 247,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,857.89 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 88.32100
----------------------------------------------------------------
0 0030893267 MORTGAGORS: PATTERSON SCOTT
PATTERSON TONI
REGION CODE ADDRESS : 16109 WEST 65TH PLACE
01 CITY : ARVADA
STATE/ZIP : CO 80007
MORTGAGE AMOUNT : 218,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 218,450.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,602.91 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 94.97800
----------------------------------------------------------------
0 0030893358 MORTGAGORS: LUJAN JANICE
REGION CODE ADDRESS : 11661 ARROYO AVE
01 CITY : SANTA ANA
STATE/ZIP : CA 92705
MORTGAGE AMOUNT : 332,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,813.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,641.55 OUTSIDE CONV DATE :
LIFETIME RATE : 8.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030893390 MORTGAGORS: STANFORD PAUL
STANFORD JANIS
REGION CODE ADDRESS : 20362 MOONCREST CIRCLE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92646
MORTGAGE AMOUNT : 226,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 226,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,660.51 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.99200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,300,000.00
P & I AMT: 9,787.69
UPB AMT: 1,299,628.71
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 204
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030893408 MORTGAGORS: KORNFELD GREGG
KORNFELD LISA
REGION CODE ADDRESS : 72 CYPRESS AVENUE
01 CITY : MILL VALLEY
STATE/ZIP : CA 94941
MORTGAGE AMOUNT : 474,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 474,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,439.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030893416 MORTGAGORS: HOMA WILLIAM
HOMA CAROLYN
REGION CODE ADDRESS : 4 ROCK CREST DRIVE
01 CITY : CAPE ELIZABETH
STATE/ZIP : ME 04107
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 348,497.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,507.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 62.35000
----------------------------------------------------------------
0 0030893481 MORTGAGORS: SOLL EDWARD
SOLL KAREN
REGION CODE ADDRESS : 434 LAKESHORE PARKWAY
01 CITY : NEW ORLEANS
STATE/ZIP : LA 70124
MORTGAGE AMOUNT : 600,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 599,607.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,454.98 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030893515 MORTGAGORS: GOLDMAN HOWARD
GOLDMAN AMY
REGION CODE ADDRESS : 15 CEDAR SPRINGS
01 CITY : NEEDHAM
STATE/ZIP : MA 02181
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,569.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,348.05 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 49.23000
----------------------------------------------------------------
0 0030893523 MORTGAGORS: CHANCELLOR DAVID
PHELPS-CHANCELLOR VICKI
REGION CODE ADDRESS : 18900 CRAGGY MEADOWS CT
01 CITY : DAVIDSON
STATE/ZIP : NC 28036
MORTGAGE AMOUNT : 332,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 332,208.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,413.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 04/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 77.06000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,077,300.00
P & I AMT: 15,163.97
UPB AMT: 2,074,282.70
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 205
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030893549 MORTGAGORS: LAUZIER MARIJEAN
REGION CODE ADDRESS : 60 ORCHARD STREET
01 CITY : JAMAICA PLAN
STATE/ZIP : MA 02130
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,696.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,922.28 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 75.75700
----------------------------------------------------------------
0 0030893556 MORTGAGORS: TROST PHILIP
TROST JANET
REGION CODE ADDRESS : 143 SOUTH 1320 EAST
01 CITY : LINDON
STATE/ZIP : UT 84042
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,840.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,811.69 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 71.97600
----------------------------------------------------------------
0 0030893572 MORTGAGORS: WYNMORE EVAN
WYNMORE JULIE
REGION CODE ADDRESS : 113 BOLTON PLACE
01 CITY : CHAPEL HILL
STATE/ZIP : NC 27516
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,424.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,934.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030893606 MORTGAGORS: ANDERSON LARRY
ANDERSON CAROLINE
REGION CODE ADDRESS : 17100 RAYMER STREET
01 CITY : NORTHRIDGE
STATE/ZIP : CA 91325
MORTGAGE AMOUNT : 240,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,887.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,805.67 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030893614 MORTGAGORS: FUSS SARA
REGION CODE ADDRESS : 295 MONROE STREET
01 CITY : DENVER
STATE/ZIP : CO 80206
MORTGAGE AMOUNT : 444,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 443,702.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,257.91 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,448,350.00
P & I AMT: 10,731.86
UPB AMT: 1,446,550.16
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 206
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030893630 MORTGAGORS: SELVA RICHARD
SELVA CYNTHIA
REGION CODE ADDRESS : 43169 VINTNERS PLACE DRIVE
01 CITY : STERLING HEIGHT
STATE/ZIP : MI 48314
MORTGAGE AMOUNT : 238,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,848.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,788.02 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 84.95600
----------------------------------------------------------------
0 0030893655 MORTGAGORS: DE ANGELIS WILLIAM
DE ANGELIS CYNTHIA
REGION CODE ADDRESS : 14 PICKERING DRIVE
01 CITY : WASHINGTON TOWNSHIP
STATE/ZIP : NJ 08691
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,571.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,247.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 77.79700
----------------------------------------------------------------
0 0030893705 MORTGAGORS: VO PHAN
REGION CODE ADDRESS : 3673 THRUSH TERRACE
01 CITY : FREMONT
STATE/ZIP : CA 94555
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,830.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,719.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030893713 MORTGAGORS: LUCAS KATHERINE
REGION CODE ADDRESS : 2931 GRANITE CREEK ROAD
01 CITY : SCOTTS VALLEY
STATE/ZIP : CA 95066
MORTGAGE AMOUNT : 265,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,971.33 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030893721 MORTGAGORS: DUGAN JAMES
DUGAN CHRISTINE
REGION CODE ADDRESS : 1733 CLOCKTOWER DRIVE
01 CITY : EAST GOSHEN TOWNSHIP
STATE/ZIP : PA 19380
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,823.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,791.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 69.63700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,303,500.00
P & I AMT: 9,517.49
UPB AMT: 1,302,574.31
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 207
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030893887 MORTGAGORS: RENEHAN MICHAEL
CLARK VIRGINIA
REGION CODE ADDRESS : 2328 ORCHID CREST BLVD.
01 CITY : WALL TOWNSHIP
STATE/ZIP : NJ 08736
MORTGAGE AMOUNT : 252,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,896.95 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 77.69200
----------------------------------------------------------------
0 0030894257 MORTGAGORS: WALLER MARSHALL
GRANDY SUSAN
REGION CODE ADDRESS : 6164 AVALON COURT
01 CITY : LONG BEACH
STATE/ZIP : CA 90803
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 320,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030894315 MORTGAGORS: GRAY LAWRENCE
GRAY JEANNE
REGION CODE ADDRESS : 12310 LEITH COURT
01 CITY : WOODBRIDGE
STATE/ZIP : VA 22192
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,642.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,678.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030894331 MORTGAGORS: KLEIN RUDOLF
KLEIN PATRICIA
REGION CODE ADDRESS : 12201 HOWLAND PARK DR
01 CITY : PLYMOUTH
STATE/ZIP : MI 48170
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,814.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,957.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 69.76700
----------------------------------------------------------------
0 0030894703 MORTGAGORS: ZUBER JOHN
ZUBER DANA
REGION CODE ADDRESS : 6 WHISPERING WAY
01 CITY : WARREN TOWNSHIP
STATE/ZIP : NJ 07059
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 500,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,625.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 70.92100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,582,500.00
P & I AMT: 11,395.59
UPB AMT: 1,581,956.86
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 208
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030894760 MORTGAGORS: BUCHHOLZ TIMOTHY
BUCHOLZ MONICA
REGION CODE ADDRESS : 21603 AWBREY PLACE
01 CITY : ASHBURN
STATE/ZIP : VA 20148
MORTGAGE AMOUNT : 264,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,925.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,893.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 94.99800
----------------------------------------------------------------
0 0030894869 MORTGAGORS: WEISGLASS STEPHEN
WEISGLASS LESLIE B.
REGION CODE ADDRESS : ONE CLUBWAY LANE
01 CITY : HARTSDALE
STATE/ZIP : NY 10530
MORTGAGE AMOUNT : 588,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 587,188.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,263.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030895064 MORTGAGORS: ANDERSON GREGORY
ANDERSON KAREN
REGION CODE ADDRESS : 14814 CHESTNUT COURT
01 CITY : GLENELG
STATE/ZIP : MD 21737
MORTGAGE AMOUNT : 254,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,640.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,819.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 44.56100
----------------------------------------------------------------
0 0030895114 MORTGAGORS: ROBEY THOMAS
ROBEY JILL
REGION CODE ADDRESS : 1021 CLIFTON ROAD
01 CITY : ATLANTA
STATE/ZIP : GA 30307
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,480.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,812.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 04/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 60.24000
----------------------------------------------------------------
0 0030895478 MORTGAGORS: BAUM JOHN
SATERSMOEN LAURA
REGION CODE ADDRESS : 1813 SAN JOSE AVENUE
01 CITY : ALAMEDA
STATE/ZIP : CA 94501
MORTGAGE AMOUNT : 229,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 229,042.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,661.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,585,500.00
P & I AMT: 11,451.11
UPB AMT: 1,583,276.77
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 209
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030895502 MORTGAGORS: FRITZLEY SCOTT
FRITZLEY KATHLEEN
REGION CODE ADDRESS : 4463 POINSETTIA STREET
01 CITY : SAN LUIS OBISPO
STATE/ZIP : CA 93401
MORTGAGE AMOUNT : 276,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,828.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.80 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 84.27400
----------------------------------------------------------------
0 0030895536 MORTGAGORS: PEREZ J
PEREZ MARYELENA
REGION CODE ADDRESS : 31882 LA SUBIDA DRIVE
01 CITY : TRABUCO CANYON AREA
STATE/ZIP : CA 92679
MORTGAGE AMOUNT : 263,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,840.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,022.24 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 93.92800
----------------------------------------------------------------
0 0030895627 MORTGAGORS: MANNION DAVID
MANNION KELLI
REGION CODE ADDRESS : 5405 SUNSTONE AVENUE
01 CITY : RANCHO CUCAMONGA
STATE/ZIP : CA 91701
MORTGAGE AMOUNT : 279,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,112.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,049.41 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030895726 MORTGAGORS: SOLIS ALEJANDRO
SOLIS STACEY
REGION CODE ADDRESS : 6100 HENRY HOUSE COURT
01 CITY : FAIRFAX STATION
STATE/ZIP : VA 22039
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,828.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,871.10 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 78.46100
----------------------------------------------------------------
0 0030895817 MORTGAGORS: RODRIGO JUAN
REGION CODE ADDRESS : 1030 NATALIE COURT
01 CITY : AUBURN
STATE/ZIP : CA 95603
MORTGAGE AMOUNT : 232,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 232,612.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,810.31 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,306,050.00
P & I AMT: 9,850.86
UPB AMT: 1,305,223.20
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 210
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030895833 MORTGAGORS: CARLE SCOTT
CARLE S.
REGION CODE ADDRESS : 23 IVIERS DRIVE
01 CITY : LITTLE ROCK
STATE/ZIP : AR 72211
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,803.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,227.50 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 89.02000
----------------------------------------------------------------
0 0030895957 MORTGAGORS: CACKA EVAN
CACKA LISA
REGION CODE ADDRESS : 19633 89 PL NE
01 CITY : BOTHELL
STATE/ZIP : WA 98011
MORTGAGE AMOUNT : 247,960.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,797.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,841.10 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030895973 MORTGAGORS: MACKENZIE DAVID
REGION CODE ADDRESS : 23 EAGLES DRIVE
01 CITY : BOULDER
STATE/ZIP : CO 80302
MORTGAGE AMOUNT : 495,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 494,366.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,718.77 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 59.56600
----------------------------------------------------------------
0 0030895999 MORTGAGORS: GENETTE JOHN
GENETTE ANDREA
REGION CODE ADDRESS : 5895 EAST CAREFREE MOUNTAIN DRIVE
01 CITY : CAREFREE
STATE/ZIP : AZ 85377
MORTGAGE AMOUNT : 311,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 310,536.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,229.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 76.83900
----------------------------------------------------------------
0 0030896039 MORTGAGORS: HILGER STUART
HILGER DENISE
REGION CODE ADDRESS : 13 JAMIE LANE
01 CITY : HOPKINTON
STATE/ZIP : MA 01748
MORTGAGE AMOUNT : 328,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,810.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,381.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,682,660.00
P & I AMT: 12,398.69
UPB AMT: 1,644,315.02
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 211
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030896054 MORTGAGORS: LYNALL STANLEY
LYNALL MARY
REGION CODE ADDRESS : 10707 NORTH GRAND OAK COURT
01 CITY : PEORIA
STATE/ZIP : IL 61615
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,777.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,524.49 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030896088 MORTGAGORS: SAWALQAH HABES
SAWALQAH ANGELA
REGION CODE ADDRESS : 1513 W. CARIBBEAN LANE
01 CITY : PHOENIX
STATE/ZIP : AZ 85023
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,776.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,356.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 65.00000
----------------------------------------------------------------
0 0030896112 MORTGAGORS: OLSON CARL
OLSON PATRICIA
REGION CODE ADDRESS : 9910 W. COREY LANE
01 CITY : MEQUON
STATE/ZIP : WI 53092
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 648,579.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,600.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 04/01/27
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 69.25900
----------------------------------------------------------------
0 0030896245 MORTGAGORS: BRASS ROBERT
BRASS FAYE
REGION CODE ADDRESS : 720 CURTIS AVE
01 CITY : ALBANY
STATE/ZIP : CA 94706
MORTGAGE AMOUNT : 232,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 232,601.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,748.57 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030896252 MORTGAGORS: RASMUSSEN DANIEL
RASMUSSEN MICHELLE
REGION CODE ADDRESS : 13030 FORESTVIEW CIRCLE
01 CITY : DAYTON
STATE/ZIP : MN 55327
MORTGAGE AMOUNT : 223,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 223,111.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,696.86 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,771,000.00
P & I AMT: 12,927.06
UPB AMT: 1,768,846.41
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 212
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030896310 MORTGAGORS: FEINBERG GREGORY
FEINBERG JILL
REGION CODE ADDRESS : 2781 AUTUMN RIDGE DR
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91362
MORTGAGE AMOUNT : 378,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 378,702.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,813.69 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 89.98200
----------------------------------------------------------------
0 0030896344 MORTGAGORS: CHEN RAYMOND
HSIAO LISA
REGION CODE ADDRESS : 5318 YORKTOWN ROAD
01 CITY : BETHESDA
STATE/ZIP : MD 20816
MORTGAGE AMOUNT : 233,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,043.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,711.14 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 94.98900
----------------------------------------------------------------
0 0030896369 MORTGAGORS: BRIER JAMES
BRIER KIMBERLY
REGION CODE ADDRESS : 5805 KILLARNEY CIRCLE
01 CITY : SAN JOSE
STATE/ZIP : CA 95138
MORTGAGE AMOUNT : 436,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 435,721.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,275.52 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030897425 MORTGAGORS: HERMISTON TERRY
HERMISTON MICHELLE
REGION CODE ADDRESS : 9 SEAMAST PASSAGE
01 CITY : CORTE MADERA
STATE/ZIP : CA 94925
MORTGAGE AMOUNT : 257,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,394.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,735.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030897466 MORTGAGORS: BUTLER JUDITH
BROWN WENDY
REGION CODE ADDRESS : 1027 MERCED STREET
01 CITY : BERKELEY
STATE/ZIP : CA 94707
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,731.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,935.06 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 62.50000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,705,750.00
P & I AMT: 12,470.91
UPB AMT: 1,704,593.24
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 213
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030897813 MORTGAGORS: MORIARTY DONALD
MORIARTY APRIL
REGION CODE ADDRESS : 14 RIVER RUN SUNDANCE
01 CITY : PROVO
STATE/ZIP : UT 84604
MORTGAGE AMOUNT : 293,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 293,303.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,153.60 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 74.58700
----------------------------------------------------------------
0 0030897821 MORTGAGORS: TORCHIA TIMOTHY
TORCHIA MARILYN
REGION CODE ADDRESS : 729 URSULA AVENUE
01 CITY : PACIFICA
STATE/ZIP : CA 94044
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,804.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,142.59 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030897839 MORTGAGORS: SRINIVAS SAMPATH
REGION CODE ADDRESS : 3443 GEORGETOWN PLACE
01 CITY : SANTA CLARA
STATE/ZIP : CA 95051
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,622.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,054.55 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030897847 MORTGAGORS: WARNER DAVID
REGION CODE ADDRESS : 2105 9TH AVENUE
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94116
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,689.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,800.36 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 68.49315
----------------------------------------------------------------
0 0030897854 MORTGAGORS: WILKE PETER
WILKE ANNE
REGION CODE ADDRESS : 5 HIGH BLUFF
01 CITY : LAGUNA NIGUEL
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 336,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,768.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,436.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,701,500.00
P & I AMT: 12,587.33
UPB AMT: 1,700,188.13
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 214
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030897870 MORTGAGORS: GROVE ROBERT
GROVE CHERYL
REGION CODE ADDRESS : 119 EL GRANADA BOULEVARD
01 CITY : EL GRANADA
STATE/ZIP : CA 94018
MORTGAGE AMOUNT : 364,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 363,743.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,607.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 78.61700
----------------------------------------------------------------
0 0030897888 MORTGAGORS: LUFKIN DANIEL
BOUBA JANICE
REGION CODE ADDRESS : 36743 MONTECITO DRIVE
01 CITY : FREMONT
STATE/ZIP : CA 94536
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,644.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,937.14 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030897896 MORTGAGORS: NAST THOMAS
NAST LUANNE
REGION CODE ADDRESS : 116 NORTH SADDLEBOW ROAD
01 CITY : BELLE CANYON
STATE/ZIP : CA 91307
MORTGAGE AMOUNT : 455,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 454,694.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,338.63 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 64.08400
----------------------------------------------------------------
0 0030897904 MORTGAGORS: BATA AMER
BATA MARAM
REGION CODE ADDRESS : 2441 EAST AVENIDA OTONO
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91362
MORTGAGE AMOUNT : 251,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,581.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,847.26 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030897912 MORTGAGORS: YORE LAWRENCE
BIDONDO-YORE MARIE
REGION CODE ADDRESS : 709 CLOYDEN SQUARE
01 CITY : PALOS VERDE ESTATES
STATE/ZIP : CA 90274
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,760.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,175.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 53.75400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,649,750.00
P & I AMT: 11,906.40
UPB AMT: 1,648,423.71
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 215
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030897920 MORTGAGORS: HANSEN GALE
QUIROZ EVANGELINE
REGION CODE ADDRESS : 850 5TH AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90004
MORTGAGE AMOUNT : 228,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 227,854.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,712.89 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030897946 MORTGAGORS: BALDERRAMA ANTHONY
FOSTER MELANIE
REGION CODE ADDRESS : 8149 KENYON AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90045
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,832.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,900.80 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 75.96400
----------------------------------------------------------------
0 0030897961 MORTGAGORS: ELIOPULOS MARTIN
ELIOPULOS ANDREA
REGION CODE ADDRESS : 110811 MELTON COURT
01 CITY : SAN DIEGO
STATE/ZIP : CA 92131
MORTGAGE AMOUNT : 235,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,337.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,707.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 94.99700
----------------------------------------------------------------
0 0030897987 MORTGAGORS: CASTILLO GARRETT
CASTILLO VICTORIA
REGION CODE ADDRESS : 4233 FARMDALE AVENUE
01 CITY : STUDIO CITY
STATE/ZIP : CA 91604
MORTGAGE AMOUNT : 262,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,046.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,925.40 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030898241 MORTGAGORS: AUCHMOODY BLAKE
AUCHMOODY KELLY
REGION CODE ADDRESS : 45 ROCKLEDGE DRIVE
01 CITY : STAMFORD
STATE/ZIP : CT 06907
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,843.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,840.60 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 68.05500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,226,900.00
P & I AMT: 9,087.23
UPB AMT: 1,225,915.54
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 216
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030898266 MORTGAGORS: MCGOWAN TIMOTHY
MCGOWAN IVY
REGION CODE ADDRESS : 4 GREAT WOODS LANE
01 CITY : CHARLESTOWN TOWNSHIP
STATE/ZIP : PA 19355
MORTGAGE AMOUNT : 418,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 418,304.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,998.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0030898480 MORTGAGORS: FETCHET F
FETCHET CATHERINE
REGION CODE ADDRESS : 4120 LAURELVIEW DRIVE
01 CITY : MOORPARK
STATE/ZIP : CA 93021
MORTGAGE AMOUNT : 352,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 352,580.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,681.53 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 79.98900
----------------------------------------------------------------
0 0030898498 MORTGAGORS: LITTRELL I
LENIHAN CYNTHIA
REGION CODE ADDRESS : 10618 MELVIN AVE
01 CITY : NORTHRIDGE
STATE/ZIP : CA 91326
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,569.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,177.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030898621 MORTGAGORS: ROACH MICHAEL
ROACH CHRISTINE
REGION CODE ADDRESS : 5634 BELLEZA DR.
01 CITY : PLEASANTON
STATE/ZIP : CA 94588
MORTGAGE AMOUNT : 233,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,700.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,735.22 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030898720 MORTGAGORS: MOORE ROBERT
MOORE MEGAN
REGION CODE ADDRESS : 10 AMBER SKY DRIVE
01 CITY : RANCHO PALOS VERDES
STATE/ZIP : CA 90275
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 400,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,831.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 67.79600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,709,100.00
P & I AMT: 12,424.72
UPB AMT: 1,708,154.76
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 217
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030898787 MORTGAGORS: DRAPER JAMES
REGION CODE ADDRESS : 544 21ST AVENUE
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94121
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,807.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,030.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 66.98500
----------------------------------------------------------------
0 0030898985 MORTGAGORS: WU ADAM
WU THU-HA
REGION CODE ADDRESS : 3550 INDIAN RIDGE CIRCLE
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91362
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,785.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,348.05 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 73.10743
----------------------------------------------------------------
0 0030899025 MORTGAGORS: HILL JAMES
HILL TERESA
REGION CODE ADDRESS : 10 RANGE ROAD
01 CITY : NAHANT
STATE/ZIP : MA 01908
MORTGAGE AMOUNT : 286,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,730.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,231.48 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030899033 MORTGAGORS: CHIEN TEHSHIH
TONG PENNY
REGION CODE ADDRESS : 13220 MCDOLE AVENUE
01 CITY : SARATOGA
STATE/ZIP : CA 95070
MORTGAGE AMOUNT : 336,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,774.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,465.45 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030899090 MORTGAGORS: BRENNAN JOHN
WHEELER KATHLEEN
REGION CODE ADDRESS : 680 BELDEN DRIVE
01 CITY : LOS ALTOS
STATE/ZIP : CA 94022
MORTGAGE AMOUNT : 600,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 600,456.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,461.30 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 62.58800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,823,750.00
P & I AMT: 13,536.48
UPB AMT: 1,822,554.70
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 218
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030899124 MORTGAGORS: ALAMEDA ANTONE
ALAMEDA CATHY
REGION CODE ADDRESS : 775 FLINT ROAD
01 CITY : SAN JUAN BAUTISTA
STATE/ZIP : CA 95045
MORTGAGE AMOUNT : 260,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,225.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,910.72 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0030899140 MORTGAGORS: ORSOLINI GREGORY
ROADY SUSANNE
REGION CODE ADDRESS : 1711 BUENA AVENUE
01 CITY : BERKELEY
STATE/ZIP : CA 94703
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,818.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,914.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030899249 MORTGAGORS: BARRY JOSEPH
BARRY SUSAN
REGION CODE ADDRESS : 1464 PASEO DE ORO
01 CITY : PACIFIC PALISADES
STATE/ZIP : CA 90272
MORTGAGE AMOUNT : 470,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 469,676.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,407.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 68.61300
----------------------------------------------------------------
0 0030899264 MORTGAGORS: DE GUZMAN SANTOS CIRILO
DEL MUNDO SANTOS BERNADETH
REGION CODE ADDRESS : 2325 ERIN PLACE
01 CITY : SOUTH SAN FRANCISCO
STATE/ZIP : CA 94080
MORTGAGE AMOUNT : 233,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 232,843.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,709.67 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 89.96100
----------------------------------------------------------------
0 0030899298 MORTGAGORS: ALLMENDINGER KLAUS
ALLMENDINGER SONJA
REGION CODE ADDRESS : 10941 RIMPAU ROAD
01 CITY : MURRIETA
STATE/ZIP : CA 92562
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,582.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,274.68 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 72.09300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,537,400.00
P & I AMT: 11,217.08
UPB AMT: 1,536,146.40
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 219
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030899322 MORTGAGORS: LUDWIG STEVEN
LUDWIG NORMA
REGION CODE ADDRESS : 301 22ND STREET
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92648
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,805.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,127.92 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 74.35800
----------------------------------------------------------------
0 0030899330 MORTGAGORS: BERTOLINA JAMES
BERTOLINA NELLY
REGION CODE ADDRESS : 3713 HIGHTIDE DRIVE
01 CITY : RANCHO PALOS VERDES
STATE/ZIP : CA 90275
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,815.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,017.86 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 54.02700
----------------------------------------------------------------
0 0030899363 MORTGAGORS: SILBERGELD DANIEL
SILBERGELD MARNIE
REGION CODE ADDRESS : 5717 60TH AVE N.E.
01 CITY : SEATTLE
STATE/ZIP : WA 98105
MORTGAGE AMOUNT : 399,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 398,932.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,929.19 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030899389 MORTGAGORS: FETZER MICHAEL
REGION CODE ADDRESS : 410 TALA SHORES DR
01 CITY : PORT LUDLOW
STATE/ZIP : WA 98365
MORTGAGE AMOUNT : 220,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 220,359.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,656.54 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030899405 MORTGAGORS: DAVIS TIMOTHY
DAVIS MARTINE
REGION CODE ADDRESS : 7821 176TH STREET SOUTHEAST
01 CITY : SNOHOMISH
STATE/ZIP : WA 98290
MORTGAGE AMOUNT : 223,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 223,050.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,637.76 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,407,900.00
P & I AMT: 10,369.27
UPB AMT: 1,406,962.65
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 220
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030899413 MORTGAGORS: WELCH SUSAN
REGION CODE ADDRESS : 1611 EAST ROY STREET
01 CITY : SEATTLE
STATE/ZIP : WA 98112
MORTGAGE AMOUNT : 299,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 298,966.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,221.55 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030899447 MORTGAGORS: LEMMERMAN ALAN
LEMMERMAN BARBARA
REGION CODE ADDRESS : 247 DRIFTWOOD RD
01 CITY : CORONA DEL MAR
STATE/ZIP : CA 92625
MORTGAGE AMOUNT : 600,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 599,627.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,560.44 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 46.15300
----------------------------------------------------------------
0 0030899488 MORTGAGORS: HOWELLS III JONAH
HOWELLS KIMBERLY
REGION CODE ADDRESS : 9324 EDENSBURY CT
01 CITY : ELK GROVE
STATE/ZIP : CA 95758
MORTGAGE AMOUNT : 251,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,601.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,958.09 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030899496 MORTGAGORS: SPITZBERG MARK
TANGEMAN DEBORAH
REGION CODE ADDRESS : 810 MEGAN COURT
01 CITY : COSTA MESA
STATE/ZIP : CA 92626
MORTGAGE AMOUNT : 282,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,410.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,073.62 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 94.98900
----------------------------------------------------------------
0 0030899504 MORTGAGORS: COSTELLO RONALD
COSTELLO KRISTEN
REGION CODE ADDRESS : 8402 E. SUTTON DRIVE
01 CITY : SCOTTSDALE
STATE/ZIP : AZ 85260
MORTGAGE AMOUNT : 246,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,834.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,805.06 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,679,550.00
P & I AMT: 12,618.76
UPB AMT: 1,678,440.37
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 221
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030900070 MORTGAGORS: LYDICK PAUL
LYDICK PATRICIA
REGION CODE ADDRESS : 1122 COUNTRY CLUB DRIVE
01 CITY : OJAI
STATE/ZIP : CA 93023
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,822.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,937.14 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 41.25000
----------------------------------------------------------------
0 0030900161 MORTGAGORS: KOLLET ROBERT
CARSON MEAKEE
REGION CODE ADDRESS : 108 SPOT CLUB ROAD
01 CITY : ARNOLD
STATE/ZIP : MD 21012
MORTGAGE AMOUNT : 308,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 308,043.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,261.83 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030900393 MORTGAGORS: CHNG NAI-SIEW
CHNG SUSAN
REGION CODE ADDRESS : 44253 LUPINE PLACE
01 CITY : FREMONT
STATE/ZIP : CA 94539
MORTGAGE AMOUNT : 362,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 362,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,656.23 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 75.41600
----------------------------------------------------------------
0 0030900443 MORTGAGORS: ORTIZ TIMOTEO
ORTIZ LYDIA
REGION CODE ADDRESS : 630 GOLDEN WEST DRIVE
01 CITY : REDLANDS
STATE/ZIP : CA 92373
MORTGAGE AMOUNT : 266,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,838.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,045.31 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 94.66100
----------------------------------------------------------------
0 0030900484 MORTGAGORS: TONEY LAURENCE
HOPP JENNIFER
REGION CODE ADDRESS : 619 LONGRIDGE ROAD
01 CITY : OAKLAND
STATE/ZIP : CA 94610
MORTGAGE AMOUNT : 237,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,722.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,437,850.00
P & I AMT: 10,623.27
UPB AMT: 1,437,304.89
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 222
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030900492 MORTGAGORS: TAM DANNY
ZOU SHIRLEY
REGION CODE ADDRESS : 2063 ARROWOOD LANE
01 CITY : SAN JOSE
STATE/ZIP : CA 95130
MORTGAGE AMOUNT : 277,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,036.93 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030900500 MORTGAGORS: PITTS STEVEN
PITTS JUDY
REGION CODE ADDRESS : 7686 BUCKEYE COURT
01 CITY : DUBLIN
STATE/ZIP : CA 94568
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,812.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 63.07300
----------------------------------------------------------------
0 0030900526 MORTGAGORS: OCZKUS MARK
OCZKUS LORI
REGION CODE ADDRESS : 3 TOTERDELL COURT
01 CITY : ORINDA
STATE/ZIP : CA 94563
MORTGAGE AMOUNT : 384,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 384,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,784.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030900542 MORTGAGORS: ZHELEZNYAK ALEXANDER
ZHELEZNYAK IZABELLA
REGION CODE ADDRESS : 26 LENOX ROAD
01 CITY : KENSINGTON
STATE/ZIP : CA 94707
MORTGAGE AMOUNT : 313,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 313,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,328.47 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030900559 MORTGAGORS: ENAD STEVE
ENAD TERESITA
REGION CODE ADDRESS : 2648 REGGIO COURT
01 CITY : MERCED
STATE/ZIP : CA 95340
MORTGAGE AMOUNT : 353,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 353,741.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,752.99 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 89.98700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,579,150.00
P & I AMT: 11,715.33
UPB AMT: 1,578,941.03
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 223
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030900575 MORTGAGORS: TASHJIAN LESLIE
REGION CODE ADDRESS : 1200-1202 SOUTH GENESEE AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90019
MORTGAGE AMOUNT : 286,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,173.81 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 77.29700
----------------------------------------------------------------
0 0030900583 MORTGAGORS: LUU ARTHUR
LUU LISA
REGION CODE ADDRESS : 3277 POMERADO DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95135
MORTGAGE AMOUNT : 243,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,150.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,805.38 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 79.99600
----------------------------------------------------------------
0 0030900591 MORTGAGORS: KOZIEL TADD
KOZIEL JENNIFER
REGION CODE ADDRESS : 1038 SPRINGFIELD DRIVE
01 CITY : CAMPBELL
STATE/ZIP : CA 95008
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,839.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,893.20 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030900609 MORTGAGORS: SUKHIJA PARAMJIT
SUKHIJA KARANJIT
REGION CODE ADDRESS : 9850 ENCINO AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 91304
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,761.04 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 77.41900
----------------------------------------------------------------
0 0030900617 MORTGAGORS: KILLMASTER GREGORY
REGION CODE ADDRESS : 29 PARK DRIVE
01 CITY : SAN ANSELMO
STATE/ZIP : CA 94960
MORTGAGE AMOUNT : 253,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,905.21 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,274,750.00
P & I AMT: 9,538.64
UPB AMT: 1,274,589.30
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 224
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030900625 MORTGAGORS: LO TAK
LEUNG LAI
REGION CODE ADDRESS : 331 POPLAR AVENUE
01 CITY : MILLBRAE
STATE/ZIP : CA 94030
MORTGAGE AMOUNT : 330,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 330,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,450.24 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 77.46478
----------------------------------------------------------------
0 0030900633 MORTGAGORS: HANSON WILLIAM
HANSON JULIE
REGION CODE ADDRESS : 16401 NORMANDY LANE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92647
MORTGAGE AMOUNT : 253,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,425.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,838.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030900674 MORTGAGORS: GUZIKOWSKI ROBERT
GUZIKOWSKI ROBIN
REGION CODE ADDRESS : 3144 HAWKCREST CIRCLE
01 CITY : SAN JOSE
STATE/ZIP : CA 95135
MORTGAGE AMOUNT : 328,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 328,174.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,381.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
0 0030902092 MORTGAGORS: CZARNECKI JOSEPH
REGION CODE ADDRESS : 21803 OCEAN VISTA DRIVE
01 CITY : LAGUNA BEACH
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 265,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,967.62 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 84.12600
----------------------------------------------------------------
0 0030902100 MORTGAGORS: MCKILLIPS DOUGLAS
MCKILLIPS LISA
REGION CODE ADDRESS : 15200 SW SCHOLLS DRIVE
01 CITY : SHERWOOD
STATE/ZIP : OR 97140
MORTGAGE AMOUNT : 302,625.00 OPTION TO CONVERT :
UNPAID BALANCE : 302,625.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,246.98 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,479,625.00
P & I AMT: 10,884.75
UPB AMT: 1,479,224.47
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 225
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030902209 MORTGAGORS: CHAN NORMAN
CHAN KAM
REGION CODE ADDRESS : 310 RAMONA AVENUE
01 CITY : PIEDMONT
STATE/ZIP : CA 94611
MORTGAGE AMOUNT : 396,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 395,727.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,871.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030903298 MORTGAGORS: DEMMEL JAMES
YELICK KATHERINE
REGION CODE ADDRESS : 416 KENTUCKY AVENUE
01 CITY : BERKELEY
STATE/ZIP : CA 94708
MORTGAGE AMOUNT : 383,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 382,979.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,745.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030903363 MORTGAGORS: WRIGHT RONALD
GODEKEN-WRIGHT SHELLY
REGION CODE ADDRESS : 692 TUMBLEWEED CIRCLE
01 CITY : INCLINE VILLAGE
STATE/ZIP : NV 89451
MORTGAGE AMOUNT : 276,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 276,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,025.19 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030903397 MORTGAGORS: SMITH ALISON
VOSS RICHARD
REGION CODE ADDRESS : 49 RHINESTONE TERRACE
01 CITY : SAN RAFAEL
STATE/ZIP : CA 94903
MORTGAGE AMOUNT : 495,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 495,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,676.85 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030903405 MORTGAGORS: MC EVOY M.
REGION CODE ADDRESS : 306 7TH STREET
01 CITY : PETALUMA
STATE/ZIP : CA 94952
MORTGAGE AMOUNT : 239,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,737.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,790,050.00
P & I AMT: 13,056.24
UPB AMT: 1,789,506.98
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 226
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030903678 MORTGAGORS: GOMEZ ROGER
RAYA-GOMEZ MARY
REGION CODE ADDRESS : 2232 CALLE DE PLATA
01 CITY : SAN DIMAS
STATE/ZIP : CA 91773
MORTGAGE AMOUNT : 290,475.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,294.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,207.82 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 94.99900
----------------------------------------------------------------
0 0030903959 MORTGAGORS: HUSTER ERICK
HUSTER KAREN
REGION CODE ADDRESS : 1 CHADWICK CT
01 CITY : PARK RIDGE
STATE/ZIP : NJ 07675
MORTGAGE AMOUNT : 286,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,224.48 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 75.26300
----------------------------------------------------------------
0 0030904015 MORTGAGORS: HEARD WILLIAM
HEARD SHARON
REGION CODE ADDRESS : 1424 WEST SECOND STREET
01 CITY : SAN PEDRO
STATE/ZIP : CA 90732
MORTGAGE AMOUNT : 235,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,811.56 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 89.24242
----------------------------------------------------------------
0 0030904189 MORTGAGORS: PETERSON JOSEPH
PETERSON ALMA
REGION CODE ADDRESS : 10045 EDGEWATER TERRACE
01 CITY : FORT WASHINGTON
STATE/ZIP : MD 20744
MORTGAGE AMOUNT : 267,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,415.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,940.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 94.99636
----------------------------------------------------------------
0 0030905384 MORTGAGORS: LEONESIO JOHN
REGION CODE ADDRESS : 20805 N 74TH WAY
01 CITY : SCOTTSDALE
STATE/ZIP : AZ 85255
MORTGAGE AMOUNT : 275,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,650.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,070.87 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 94.98200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,355,325.00
P & I AMT: 10,255.02
UPB AMT: 1,354,960.29
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 227
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030905392 MORTGAGORS: ELSMORE TIMOTHY
ELSMORE DIANE
REGION CODE ADDRESS : 100 SANTA MARIA DRIVE
01 CITY : NOVATO
STATE/ZIP : CA 94947
MORTGAGE AMOUNT : 319,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,342.18 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030905426 MORTGAGORS: TARVER DAMON
TARVER CHRISTINE
REGION CODE ADDRESS : 4173 MACKIN WOODS LANE
01 CITY : SAN JOSE
STATE/ZIP : CA 95135
MORTGAGE AMOUNT : 345,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 345,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,507.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 79.98797
----------------------------------------------------------------
0 0030905467 MORTGAGORS: AKBULUT SELMAN
REGION CODE ADDRESS : 48 SENIOR AVENUE
01 CITY : BERKELEY
STATE/ZIP : CA 94708
MORTGAGE AMOUNT : 306,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 306,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,218.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 72.68400
----------------------------------------------------------------
0 0030905640 MORTGAGORS: DONALDSON JUDITH
REGION CODE ADDRESS : 502 SUNSET DRIVE
01 CITY : CAPITOLA
STATE/ZIP : CA 95010
MORTGAGE AMOUNT : 214,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 214,650.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,556.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 68.14200
----------------------------------------------------------------
0 0030905830 MORTGAGORS: DE MELLO JUSTIN
TACANG BRIAN
REGION CODE ADDRESS : 2916 FRYE STREET
01 CITY : OAKLAND
STATE/ZIP : CA 94602
MORTGAGE AMOUNT : 274,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,110.67 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,460,150.00
P & I AMT: 10,735.21
UPB AMT: 1,460,150.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 228
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030905855 MORTGAGORS: SCHARLAU SCOTT
SCHARLAU CAROL
REGION CODE ADDRESS : 890 WEST MCKINLEY AVENUE
01 CITY : SUNNYVALE
STATE/ZIP : CA 94086
MORTGAGE AMOUNT : 291,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,828.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,263.37 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 76.98400
----------------------------------------------------------------
0 0030905889 MORTGAGORS: ROBINSON GREGORY
REGION CODE ADDRESS : 16024 REDONDO DRIVE
01 CITY : TRACY
STATE/ZIP : CA 95376
MORTGAGE AMOUNT : 237,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,805.17 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030905905 MORTGAGORS: DUMAS LISA
DUMAS ELAINE
REGION CODE ADDRESS : 1328 KENTFIELD AVENUE
01 CITY : REDWOOD CITY
STATE/ZIP : CA 94061
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 315,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,283.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 74.11700
----------------------------------------------------------------
0 0030905947 MORTGAGORS: LEWIS L.
LEWIS DIANNE
REGION CODE ADDRESS : 13762 KNIGHT COURT
01 CITY : GAINESVILLE
STATE/ZIP : VA 20155
MORTGAGE AMOUNT : 231,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 231,790.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,681.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 79.98500
----------------------------------------------------------------
0 0030905954 MORTGAGORS: HO WINSTON
BERNABE-HO CRISTINA
REGION CODE ADDRESS : 36 PICKERING DRIVE
01 CITY : WASHINGTON TOWNSHIP
STATE/ZIP : NJ 08691
MORTGAGE AMOUNT : 274,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,320.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,038.15 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 88.54838
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,349,950.00
P & I AMT: 10,072.46
UPB AMT: 1,349,439.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 229
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030905988 MORTGAGORS: RADOI SAKUN
RADOI MIRCEA
REGION CODE ADDRESS : 32416 WESTPORT COURT
01 CITY : UNION CITY
STATE/ZIP : CA 94587
MORTGAGE AMOUNT : 247,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,984.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,813.50 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.99600
----------------------------------------------------------------
0 0030906002 MORTGAGORS: BOLLING CHISTOPHER
BOLLING HOLLY
REGION CODE ADDRESS : 23 MILANO COURT
01 CITY : SCOTTS VALLEY
STATE/ZIP : CA 95066
MORTGAGE AMOUNT : 224,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 224,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,669.13 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030906085 MORTGAGORS: KIRBY STEPHEN
KIRBY SHERRI
REGION CODE ADDRESS : 1009 CRESTBROOK DRIVE
01 CITY : RIVERSIDE
STATE/ZIP : CA 92506
MORTGAGE AMOUNT : 220,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 220,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,614.28 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030906929 MORTGAGORS: MC GARRIGLE THOMAS
MC GARRIGLE ELLEN
REGION CODE ADDRESS : 1390 EAVES SPRING ROAD
01 CITY : TREDYFFRIN TWSP
STATE/ZIP : PA 19355
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,664.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,668.82 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 71.04400
----------------------------------------------------------------
0 0030906952 MORTGAGORS: KAHN DAVID
REGION CODE ADDRESS : 633 RED ROME LANE
01 CITY : BRENTWOOD
STATE/ZIP : CA 94513
MORTGAGE AMOUNT : 230,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 230,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,687.66 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.33700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,421,950.00
P & I AMT: 10,453.39
UPB AMT: 1,421,448.68
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 230
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030906960 MORTGAGORS: WARREN CHRISTOPHER
REGION CODE ADDRESS : 545 MC INTOSH TERRACE
01 CITY : BRENTWOOD
STATE/ZIP : CA 94513
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,827.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,812.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 76.92300
----------------------------------------------------------------
0 0030907026 MORTGAGORS: AIVAZIS MICHAEL
AIVAZIS KERI
REGION CODE ADDRESS : 1500 MORADA PLACE
01 CITY : ALTADENA
STATE/ZIP : CA 91001
MORTGAGE AMOUNT : 266,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,900.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,028.63 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 94.98220
----------------------------------------------------------------
0 0030907034 MORTGAGORS: COON PEGGY
REGION CODE ADDRESS : 149 KAVENISH DRIVE EAST
01 CITY : RANCHO MIRAGE
STATE/ZIP : CA 92270
MORTGAGE AMOUNT : 215,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 215,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,540.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.25900
----------------------------------------------------------------
0 0030907042 MORTGAGORS: THOMSON JULIAN
THOMSON LISA
REGION CODE ADDRESS : 2515 WEST PHOTO VIEW ROAD
01 CITY : NEW RIVER
STATE/ZIP : AZ 85027
MORTGAGE AMOUNT : 232,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 232,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,763.37 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030907083 MORTGAGORS: RINEER JOHN
RINEER DAWN
REGION CODE ADDRESS : 2737 CAMPBELL DRIVE
01 CITY : AUBURN
STATE/ZIP : CA 95602
MORTGAGE AMOUNT : 311,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,422.82 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 76.91300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,275,400.00
P & I AMT: 9,567.78
UPB AMT: 1,275,227.96
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 231
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030907174 MORTGAGORS: HAMPTON EARL
HAMPTON JANET
REGION CODE ADDRESS : 10273 ROCKFISH VALLEY HWY
01 CITY : AFTON
STATE/ZIP : VA 22920
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,827.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,748.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030907190 MORTGAGORS: WATT ALEXANDER
WATT MEREDITH
REGION CODE ADDRESS : 18218 SMOKESIGNAL DR
01 CITY : SAN DIEGO
STATE/ZIP : CA 92127
MORTGAGE AMOUNT : 230,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 230,229.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,611.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030907273 MORTGAGORS: DEZENDORF PETER
DEZENDORF ANITA
REGION CODE ADDRESS : 20525 GLEEDSVILLE RD
01 CITY : LEESBURG
STATE/ZIP : VA 20175
MORTGAGE AMOUNT : 236,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,829.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,670.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030907398 MORTGAGORS: GILBERT JOHN
NICHOLS-GILBERT LAURA
REGION CODE ADDRESS : 14826 BAY OAKS BLVD
01 CITY : HOUSTON
STATE/ZIP : TX 77059
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,553.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 73.81000
----------------------------------------------------------------
0 0030907406 MORTGAGORS: GEURTS DENNIS
HUGHES JO
REGION CODE ADDRESS : 321 KINGSWOOD LANE
01 CITY : DANVILLE
STATE/ZIP : CA 94506
MORTGAGE AMOUNT : 432,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 431,702.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,132.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,442,400.00
P & I AMT: 10,259.40
UPB AMT: 1,441,141.97
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 232
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030907430 MORTGAGORS: STUBLAREC JAMES
STUBLAREC CHRISTINE
REGION CODE ADDRESS : 26182 PALMETTO PLACE
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 313,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 313,450.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,299.99 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 72.22300
----------------------------------------------------------------
0 0030907455 MORTGAGORS: PATZER ERIC
BRIGGS JANET
REGION CODE ADDRESS : 350 CERVANTES ROAD
01 CITY : PORTOLA VALLEY
STATE/ZIP : CA 94028
MORTGAGE AMOUNT : 550,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 549,621.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,987.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 66.66600
----------------------------------------------------------------
0 0030907471 MORTGAGORS: FOSBINDER JOHN
FOSBINDER KRISTI
REGION CODE ADDRESS : 5039 LA JARA COURT
01 CITY : LAKEWOOD
STATE/ZIP : CA 90712
MORTGAGE AMOUNT : 284,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,235.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,087.57 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 94.99100
----------------------------------------------------------------
0 0030907505 MORTGAGORS: DELANEY MICHAEL
DELANEY JOCELYN
REGION CODE ADDRESS : 26 SANTA CRUZ AISLE
01 CITY : IRVINE
STATE/ZIP : CA 92606
MORTGAGE AMOUNT : 259,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,906.33 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 89.98100
----------------------------------------------------------------
0 0030907521 MORTGAGORS: MICHEL JAMES
MICHEL FRANCES
REGION CODE ADDRESS : 26332 SOUCI PLACE
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 321,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 321,389.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,387.88 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,729,350.00
P & I AMT: 12,669.66
UPB AMT: 1,728,497.06
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 233
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030907547 MORTGAGORS: DORSEY DON
DORSEY DONNA
REGION CODE ADDRESS : 20076 STITES DRIVE
01 CITY : TOPANGA
STATE/ZIP : CA 90290
MORTGAGE AMOUNT : 383,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 383,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,877.36 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 78.64400
----------------------------------------------------------------
0 0030907562 MORTGAGORS: RIVERA FRANCISCA
REGION CODE ADDRESS : 1336 OLD STONE WAY
01 CITY : SAN JOSE
STATE/ZIP : CA 95132
MORTGAGE AMOUNT : 269,640.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,640.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,978.53 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.99900
----------------------------------------------------------------
0 0030907687 MORTGAGORS: ESPINOSA MANUEL
ESPINOSA OFELIA
REGION CODE ADDRESS : 2919 MITTON DR
01 CITY : SAN JOSE
STATE/ZIP : CA 95148
MORTGAGE AMOUNT : 236,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,837.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,711.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030907695 MORTGAGORS: CAMPBELL WILLIAM
CAMPBELL SHERYL
REGION CODE ADDRESS : 4223 NIAGARA AVE
01 CITY : SAN DIEGO
STATE/ZIP : CA 92107
MORTGAGE AMOUNT : 234,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,668.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,676.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030907737 MORTGAGORS: HURLEY THOMAS
HURLEY EDITHA
REGION CODE ADDRESS : 28 SURREY RD
01 CITY : NEWTON
STATE/ZIP : MA 02158
MORTGAGE AMOUNT : 265,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,875.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 70.66600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,387,640.00
P & I AMT: 10,119.13
UPB AMT: 1,387,146.19
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 234
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030907752 MORTGAGORS: ALTHOUSE RONALD
ALTHOUSE DEBRA
REGION CODE ADDRESS : 2856 CALLE GUADALAJARA
01 CITY : SAN CLEMENTE
STATE/ZIP : CA 92673
MORTGAGE AMOUNT : 326,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 326,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,423.52 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030907778 MORTGAGORS: SCHULTZ ERIC
REGION CODE ADDRESS : 401 SEAWARD RD # 1
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92625
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,769.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030907802 MORTGAGORS: CHAVEZ JESSE
CHAVEZ SHIRLEY
REGION CODE ADDRESS : 220 MIRAFLORES ROAD
01 CITY : SCOTTS VALLEY
STATE/ZIP : CA 95066
MORTGAGE AMOUNT : 266,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,928.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030907828 MORTGAGORS: LANDAVAZO LETICIA
LANDAVAZO MATTHEW
REGION CODE ADDRESS : 120 WILLIAMS CT
01 CITY : FREMONT
STATE/ZIP : CA 94536
MORTGAGE AMOUNT : 230,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 229,509.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,647.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 59.12500
----------------------------------------------------------------
0 0030907844 MORTGAGORS: HOLMES CHARLES
HOLMES LINDA
REGION CODE ADDRESS : 2671 SPENCER LANE
01 CITY : HAYWARD
STATE/ZIP : CA 94542
MORTGAGE AMOUNT : 234,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,475.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,636.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 04/01/27
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,300,400.00
P & I AMT: 9,405.29
UPB AMT: 1,299,385.57
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 235
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030907869 MORTGAGORS: DEARY JOHN
DEARY SANDRA
REGION CODE ADDRESS : 2857 LEWIS RIVER RD
01 CITY : WOODLAND
STATE/ZIP : WA 98674
MORTGAGE AMOUNT : 322,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 321,795.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,282.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 04/01/27
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 65.81600
----------------------------------------------------------------
0 0030908479 MORTGAGORS: BLEDSOE GARY
BLEDSOE LESLIE
REGION CODE ADDRESS : 1413 DANBURY DRIVE
01 CITY : MANSFIELD
STATE/ZIP : TX 76063
MORTGAGE AMOUNT : 306,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 306,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,218.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030908529 MORTGAGORS: NATHANSON ADAM
LEUNG DONNA
REGION CODE ADDRESS : 1827 OAKLAND AVENUE
01 CITY : PIEDMONT
STATE/ZIP : CA 94611
MORTGAGE AMOUNT : 367,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 367,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,726.45 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030908651 MORTGAGORS: NYE BRADLEY
NYE ROBIN
REGION CODE ADDRESS : 10336 VICKSBURG DRIVE
01 CITY : CUPERTINO
STATE/ZIP : CA 95014
MORTGAGE AMOUNT : 356,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 356,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,643.29 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030908669 MORTGAGORS: GLEESON RONALD
GLEESON PAOLA
REGION CODE ADDRESS : 124 ELM AVENUE
01 CITY : SAN BRUNO
STATE/ZIP : CA 94066
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,013.39 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,619,700.00
P & I AMT: 11,884.49
UPB AMT: 1,618,995.28
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 236
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030908677 MORTGAGORS: HOWARD CHARLES
HOWARD PAMELA
REGION CODE ADDRESS : 4015 LOVALL VALLEY LOOP RD
01 CITY : NAPA
STATE/ZIP : CA 94558
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,801.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,522.04 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030908768 MORTGAGORS: VENDEGNA THOMAS
CEKADA GAYLE
REGION CODE ADDRESS : 982 ROSADA COURT
01 CITY : CAMARILLO AREA
STATE/ZIP : CA 93010
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,280.22 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 89.55200
----------------------------------------------------------------
0 0030908834 MORTGAGORS: BERG ERIC
BERG MARY
REGION CODE ADDRESS : 183 CALLE LA MESA
01 CITY : MORAGA
STATE/ZIP : CA 94556
MORTGAGE AMOUNT : 314,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,279.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030908883 MORTGAGORS: MCCLUSKIE ROBERT
RAND CAROL
REGION CODE ADDRESS : 5201 NAHANT STREET
01 CITY : BETHESDA
STATE/ZIP : MD 20816
MORTGAGE AMOUNT : 257,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,863.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 77.87800
----------------------------------------------------------------
0 0030908891 MORTGAGORS: POLLACK MICHAEL
POLLACK DEBORAH
REGION CODE ADDRESS : 1284 TRESSLER DRIVE
01 CITY : UPPER DUBLIN TOWNSHIP
STATE/ZIP : PA 19034
MORTGAGE AMOUNT : 345,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 344,535.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,531.49 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 74.67500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,544,400.00
P & I AMT: 11,476.80
UPB AMT: 1,543,736.77
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 237
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030908917 MORTGAGORS: YEARY DAVID
YEARY ANNETTE
REGION CODE ADDRESS : 5 ANDORRA COURT
01 CITY : PACIFICA
STATE/ZIP : CA 94044
MORTGAGE AMOUNT : 311,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 310,991.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,283.48 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030908958 MORTGAGORS: FERREYRA JULIO
FERREYRA ELSA
REGION CODE ADDRESS : 10 ROGERS STREET UNIT 201
01 CITY : CAMBRIDGE
STATE/ZIP : MA 02143
MORTGAGE AMOUNT : 273,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,641.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,027.02 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 75.31000
----------------------------------------------------------------
0 0030908966 MORTGAGORS: KELLY PATRICK
KELLY DIANE
REGION CODE ADDRESS : 5425 LINDA LANE
01 CITY : SANTA ROSA
STATE/ZIP : CA 95404
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,832.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,834.41 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 69.44400
----------------------------------------------------------------
0 0030908974 MORTGAGORS: PIACENTINI JOSEPH
SPURGIN ELIZABETH
REGION CODE ADDRESS : 5612 33RD STREET NW
01 CITY : WASHINGTON
STATE/ZIP : DC 20015
MORTGAGE AMOUNT : 232,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 231,840.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,682.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030908982 MORTGAGORS: WEBER MARK
REGION CODE ADDRESS : 121 KNOLLWOOD DRIVE
01 CITY : NEW PROVIDENCE
STATE/ZIP : NJ 07974
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,834.41 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,316,200.00
P & I AMT: 9,661.48
UPB AMT: 1,315,305.42
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 238
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030909022 MORTGAGORS: OTA ALAN
OTA LEYLA
REGION CODE ADDRESS : 1103 SOUTH DANIEL WAY
01 CITY : SAN JOSE
STATE/ZIP : CA 95128
MORTGAGE AMOUNT : 298,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 298,008.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,215.61 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030909030 MORTGAGORS: OLNEY JOHN
OLNEY KIRSTEN
REGION CODE ADDRESS : 3497 VERDE VISTA DRIVE
01 CITY : SANTA ROSA
STATE/ZIP : CA 95404
MORTGAGE AMOUNT : 319,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 318,770.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,342.18 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030909048 MORTGAGORS: MCDONOUGH JAMES
MCDONOUGH TINA
REGION CODE ADDRESS : 5286 WIKIUP DRIVE
01 CITY : SANTA ROSA
STATE/ZIP : CA 95403
MORTGAGE AMOUNT : 227,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 227,447.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,670.05 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030909055 MORTGAGORS: ESHLEMAN JAMES
ESHLEMAN SUSAN
REGION CODE ADDRESS : 11703 FALLSWOOD TERRACE
01 CITY : LUTHERVILLE
STATE/ZIP : MD 21093
MORTGAGE AMOUNT : 348,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 347,778.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,614.41 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030910244 MORTGAGORS: HARDY ERIC
HARDY LISA
REGION CODE ADDRESS : 4614 SKARLATOS PLACE
01 CITY : CASTRO VALLEY
STATE/ZIP : CA 94546
MORTGAGE AMOUNT : 328,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 328,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,412.62 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,522,000.00
P & I AMT: 11,254.87
UPB AMT: 1,520,803.88
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 239
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030910277 MORTGAGORS: WILLIAMS ALAN
LEE KATHLEEN
REGION CODE ADDRESS : 18774 DUNDEE AVENUE
01 CITY : SARATOGA
STATE/ZIP : CA 95070
MORTGAGE AMOUNT : 391,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 391,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,904.65 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030910335 MORTGAGORS: CHOW CARL
CHOW JOANN
REGION CODE ADDRESS : 46457 PASEO PADRE PARKWAY
01 CITY : FREMONT
STATE/ZIP : CA 94539
MORTGAGE AMOUNT : 477,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 477,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,541.71 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 79.50000
----------------------------------------------------------------
0 0030910624 MORTGAGORS: REEDY TIMOTHY
REEDY LAURA
REGION CODE ADDRESS : 1318 VALLEY OAK WAY
01 CITY : BEL AIR
STATE/ZIP : MD 21014
MORTGAGE AMOUNT : 261,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,150.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,939.04 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 79.99600
----------------------------------------------------------------
0 0030910855 MORTGAGORS: RIKER DEBRA
RIKER JAN
REGION CODE ADDRESS : 1375 HOPI TRAIL
01 CITY : SANTA ROSA
STATE/ZIP : CA 95404
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,829.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,930.49 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030910921 MORTGAGORS: BOOKMAN MATTHEW
BOOKMAN LINDA
REGION CODE ADDRESS : 936 SCHIELE AVENUE
01 CITY : SAN JOSE
STATE/ZIP : CA 95126
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,820.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,189.01 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,677,350.00
P & I AMT: 12,504.90
UPB AMT: 1,677,000.92
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 240
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030911028 MORTGAGORS: STARENKO CHRISTOPHER
STARENKO LISA
REGION CODE ADDRESS : 22-24 COLUMBIA TERRACE
01 CITY : WEEHAWKEN
STATE/ZIP : NJ 07087
MORTGAGE AMOUNT : 234,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,700.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,757.96 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0030911051 MORTGAGORS: MCNAMARA GINGER
REGION CODE ADDRESS : 4139 MOLLER DRIVE
01 CITY : PLEASANTON
STATE/ZIP : CA 94566
MORTGAGE AMOUNT : 228,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 227,700.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,692.89 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030911077 MORTGAGORS: O'KELLY SEAMUS
REMAR ELIZABETH
REGION CODE ADDRESS : 16 FRENCH ROAD
01 CITY : SUDBURY
STATE/ZIP : MA 01776
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,801.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,343.95 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030911481 MORTGAGORS: OCHS MICHAEL
OCHS JANET
REGION CODE ADDRESS : 1620 NORTH SHAFFER STREET
01 CITY : ORANGE
STATE/ZIP : CA 92867
MORTGAGE AMOUNT : 220,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 220,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,636.46 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030911804 MORTGAGORS: MCCANNE STEVEN
MCCANNE DEANA
REGION CODE ADDRESS : 1206 PERALTA AVENUE
01 CITY : BERKELEY
STATE/ZIP : CA 94706
MORTGAGE AMOUNT : 254,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,797.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,248,400.00
P & I AMT: 9,229.06
UPB AMT: 1,247,602.32
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 241
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030912257 MORTGAGORS: MC CRACKEN NEIL
MC CRACKEN JANET
REGION CODE ADDRESS : 4809 JACQUES ST
01 CITY : TORRANCE
STATE/ZIP : CA 90503
MORTGAGE AMOUNT : 235,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,853.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,786.17 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 78.33300
----------------------------------------------------------------
0 0030912273 MORTGAGORS: HARRIS STEVEN
HARRIS KAREN
REGION CODE ADDRESS : 47000 KENTWELL PLACE
01 CITY : STERLING
STATE/ZIP : VA 20165
MORTGAGE AMOUNT : 256,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,111.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,040.04 OUTSIDE CONV DATE :
LIFETIME RATE : 8.87500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.87500 PRODUCT CODE : 002
LTV : 94.99800
----------------------------------------------------------------
0 0030912281 MORTGAGORS: OSBORNE RONALD
OSBORNE LINDA
REGION CODE ADDRESS : 4430 TIMBERLINE DR
01 CITY : CARSON CITY
STATE/ZIP : NV 89703
MORTGAGE AMOUNT : 332,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,803.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,582.27 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 77.57000
----------------------------------------------------------------
0 0030912323 MORTGAGORS: KEEFE ALLEN
KEEFE GINA
REGION CODE ADDRESS : 102 SIMS WAY
01 CITY : PLACENTIA
STATE/ZIP : CA 92870
MORTGAGE AMOUNT : 232,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 232,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,848.29 OUTSIDE CONV DATE :
LIFETIME RATE : 8.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.87500 PRODUCT CODE : 002
LTV : 94.98500
----------------------------------------------------------------
0 0030912349 MORTGAGORS: HOCK EDWARD
HOCK KIMBERLY
REGION CODE ADDRESS : 19809 MADRIGAL DRIVE
01 CITY : GERMANTOWN
STATE/ZIP : MD 20876
MORTGAGE AMOUNT : 246,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,561.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,962.86 OUTSIDE CONV DATE :
LIFETIME RATE : 8.87500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.87500 PRODUCT CODE : 002
LTV : 94.98800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,302,400.00
P & I AMT: 10,219.63
UPB AMT: 1,301,631.05
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 242
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030912372 MORTGAGORS: STAHLY LARRY
STAHLY GLORIA
REGION CODE ADDRESS : 9699 ORTANO LANE
01 CITY : CYPRESS
STATE/ZIP : CA 90630
MORTGAGE AMOUNT : 272,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,630.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,073.48 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 69.99300
----------------------------------------------------------------
0 0030912406 MORTGAGORS: VAN HORN JOHN
VAN HORN TERRY
REGION CODE ADDRESS : 825 KELLY ANN DRIVE
01 CITY : PALATINE
STATE/ZIP : IL 60067
MORTGAGE AMOUNT : 277,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 276,854.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,106.93 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030912430 MORTGAGORS: MACK MICHAEL
MACK JODY
REGION CODE ADDRESS : 9729 GAUIN STONE AVENUE
01 CITY : LAS VEGAS
STATE/ZIP : NV 89128
MORTGAGE AMOUNT : 361,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 360,672.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,808.60 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 89.99100
----------------------------------------------------------------
0 0030912489 MORTGAGORS: SEPEDE GARREN
SEPEDE JANET
REGION CODE ADDRESS : 8624 TRIRNON LANE
01 CITY : LAS VEGAS
STATE/ZIP : NV 89128
MORTGAGE AMOUNT : 237,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,711.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,822.33 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 89.99000
----------------------------------------------------------------
0 0030912497 MORTGAGORS: BEEKHOF PETER
BEEKHOF LINDA
REGION CODE ADDRESS : 1000 TILLMAN LANE
01 CITY : GARNERVILLE
STATE/ZIP : NV 89410
MORTGAGE AMOUNT : 395,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 394,643.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,108.26 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 71.83600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,543,200.00
P & I AMT: 11,919.60
UPB AMT: 1,541,512.23
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 243
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030912505 MORTGAGORS: PIXTON DENNIS
PIXTON SANDRA
REGION CODE ADDRESS : 4252 NW 66TH ST
01 CITY : COCONUT CREEK
STATE/ZIP : FL 33073
MORTGAGE AMOUNT : 220,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 220,694.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,738.22 OUTSIDE CONV DATE :
LIFETIME RATE : 8.75000 MATURITY DATE : 05/01/27
CURRENT INT RATE: 8.75000 PRODUCT CODE : 002
LTV : 89.99300
----------------------------------------------------------------
0 0030912513 MORTGAGORS: HOFFARD RONALD
HOFFARD CONNIE
REGION CODE ADDRESS : 1147 ACAPULCO CIRCLE
01 CITY : CORONA
STATE/ZIP : CA 91720
MORTGAGE AMOUNT : 228,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 227,858.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,732.97 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0030912596 MORTGAGORS: PARKS ROGER
PARKS CYNTHIA
REGION CODE ADDRESS : 394 ELM AVENUE
01 CITY : LARKSPUR
STATE/ZIP : CA 94939
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,005.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 34.14600
----------------------------------------------------------------
0 0030912612 MORTGAGORS: MIDDLETON SEAN
HSU JENNIFER
REGION CODE ADDRESS : 5235 RIO GRANDE DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95136
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,059.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030913917 MORTGAGORS: KORBIN WILLIAM
KORBIN MAURA
REGION CODE ADDRESS : 4385 SUNNY HILL DR.
01 CITY : CARLSBAD
STATE/ZIP : CA 92008
MORTGAGE AMOUNT : 229,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 229,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,660.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 74.11000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,241,950.00
P & I AMT: 9,196.75
UPB AMT: 1,241,553.10
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 244
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030914055 MORTGAGORS: PARSONS KEVIN
PARSONS SHERRI
REGION CODE ADDRESS : 8054 LOTTIE AVE.
01 CITY : LAS VEGAS
STATE/ZIP : NV 89129
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,838.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,976.19 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 74.28500
----------------------------------------------------------------
0 0030914105 MORTGAGORS: DES FORGES PAUL
DES FORGES MERYL
REGION CODE ADDRESS : 2375 OLD RANCH ROAD
01 CITY : ESCONDIDO
STATE/ZIP : CA 92027
MORTGAGE AMOUNT : 277,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,727.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,112.25 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 94.99900
----------------------------------------------------------------
0 0030914121 MORTGAGORS: MARSHALL TERRY
MARSHALL LYNNE
REGION CODE ADDRESS : 96000 OVERSEAS HWY #W-35
01 CITY : KEY LARGO
STATE/ZIP : FL 33037
MORTGAGE AMOUNT : 236,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,110.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,837.53 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 06/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030914246 MORTGAGORS: OUBORG PETER
KOSSOW AMY
REGION CODE ADDRESS : 507 MORAGA AVENUE
01 CITY : PIEDMONT
STATE/ZIP : CA 94611
MORTGAGE AMOUNT : 345,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 345,950.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,448.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 89.97300
----------------------------------------------------------------
0 0030914253 MORTGAGORS: NELSON STEPHEN
NELSON SUZANNE
REGION CODE ADDRESS : 4535 DARROW COURT
01 CITY : FREMONT
STATE/ZIP : CA 94536
MORTGAGE AMOUNT : 311,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,337.94 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 74.98790
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,431,300.00
P & I AMT: 10,712.52
UPB AMT: 1,430,826.17
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 245
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030914279 MORTGAGORS: MESSERSCHMIDT LARRY
MESSERSCHMIDT JUDITH
REGION CODE ADDRESS : 30216 RAINBOW CREST DRIVE
01 CITY : AGOURA HILLS
STATE/ZIP : CA 91301
MORTGAGE AMOUNT : 260,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,934.95 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 86.86660
----------------------------------------------------------------
0 0030915193 MORTGAGORS: FLYNN DOUGLAS
FLYNN JACQUELINE
REGION CODE ADDRESS : 404 GRANELLI AVENUE
01 CITY : HALF MOON BAY
STATE/ZIP : CA 94019
MORTGAGE AMOUNT : 224,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 224,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,742.25 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 77.24138
----------------------------------------------------------------
0 0030915300 MORTGAGORS: ARNOLD GLENN
ARNOLD HEATHER
REGION CODE ADDRESS : 12780 SANDY CREST COURT
01 CITY : SAN DIEGO
STATE/ZIP : CA 92130
MORTGAGE AMOUNT : 282,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,995.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 64.84200
----------------------------------------------------------------
0 0030915326 MORTGAGORS: ROBERTSON THOMAS
ROBERTSON JOY
REGION CODE ADDRESS : 710 OAK POINT DRIVE
01 CITY : AGOURA
STATE/ZIP : CA 91301
MORTGAGE AMOUNT : 309,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,218.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0030915342 MORTGAGORS: GRIMES ARTHUR
GRIMES JAN
REGION CODE ADDRESS : 27 COSTA DEL SOL
01 CITY : DANA POINT
STATE/ZIP : CA 92629
MORTGAGE AMOUNT : 307,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,199.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.95000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,383,200.00
P & I AMT: 10,090.58
UPB AMT: 1,383,200.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 07/01/97
P.O. BOX 5260 TMS AG0004970730 00 01
PAGE: 246
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0030915383 MORTGAGORS: RILEY ERIC
SINAI JULIE
REGION CODE ADDRESS : 1661 TACOMA AVENUE
01 CITY : BERKELEY
STATE/ZIP : CA 94707
MORTGAGE AMOUNT : 216,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 216,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,566.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0030915524 MORTGAGORS: VILBIG RICHARD
VILBIG VALERIE
REGION CODE ADDRESS : 409 RANCHO RIO AVENUE
01 CITY : BEN LOMOND
STATE/ZIP : CA 95005
MORTGAGE AMOUNT : 237,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,739.02 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/27
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.00000
----------------------------------------------------------------
0 0030915862 MORTGAGORS: ACKLEY PEGGY
MOSHER FRED
REGION CODE ADDRESS : 35 WOLFE GLEN WAY
01 CITY : KENTFIELD
STATE/ZIP : CA 94904
MORTGAGE AMOUNT : 505,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 505,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,661.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 60.47904
----------------------------------------------------------------
0 0030916720 MORTGAGORS: WORTMAN GARY
EVERY JOY
REGION CODE ADDRESS : 11809 TRIPLE CROWN ROAD
01 CITY : RESTON
STATE/ZIP : VA 20191
MORTGAGE AMOUNT : 263,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,908.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0889111514 MORTGAGORS: DE GUILME ROBERT
KELLY GILEAN
REGION CODE ADDRESS : 1433 BAY RIDGE PARKWAY/75TH STREET
00 CITY : BROOKLYN
STATE/ZIP : NY 11228
MORTGAGE AMOUNT : 258,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,120.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,940.32 OUTSIDE CONV DATE :
LIFETIME RATE : 8.33500 MATURITY DATE : 07/01/23
CURRENT INT RATE: 8.33500 PRODUCT CODE : 002
LTV : 72.98444
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,479,200.00
P & I AMT: 10,815.48
UPB AMT: 1,468,320.02
0 TOTAL NUM OF LOANS: 1230
LOAN AMT: 350,690,401.72
P & I AMT: 2,619,946.80
UPB AMT: 350,246,603.96
<PAGE>
EXHIBIT D
FORM OF SERVICER'S CERTIFICATE
________________, ______
(month) (year)
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC Multi-Class Pass-Through Certificates,
Series 1997-7
Pursuant to the Pooling and Servicing Agreement dated
as of July 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 $________
(b) Interest $________
(c) Total $________
(2) Aggregate Monthly Payments
received and Monthly Advances
made this Month:
(a) Principal $________
(b) Interest $________
(c) Total $________
(3) Aggregate Principal Prepayments
in part received and applied
in the applicable Prepayment
Period:
(a) Principal $________
(b) Interest $________
(c) Total $________
<PAGE>
(4) Aggregate Principal Prepayments
in full received in
the applicable Prepayment
Period:
(a) Principal $________
(b) Interest $________
(c) Total $________
(5) Aggregate Insurance Proceeds
(including purchases of
Mortgage Loans by primary
mortgage insurers) for
prior month:
(a) Principal $________
(b) Interest $________
(c) Total $________
(6) Aggregate Liquidation
Proceeds for prior month:
(a) Principal $________
(b) Interest $________
(c) Total $________
(7) Aggregate Purchase Prices for
Defaulted and Modified
Mortgage Loans:
(a) Principal $________
(b) Interest $________
(c) Total $________
(8) Aggregate Purchase Prices
(and substitution adjustments)
for Defective Mortgage Loans:
(a) Principal $________
(b) Interest $________
(c) Total $________
(9) Pool Scheduled Principal
Balance: $________
(10) Available Funds: $________
(11) Realized Losses for
prior month: $________
<PAGE>
(12) Aggregate Realized
Losses and Debt
Service Reductions:
(a) Deficient Valuations $________
(b) Special Hazard
Losses $________
(c) Fraud Losses $________
(d) Excess Bankruptcy
Losses $________
(e) Excess Special
Hazard Losses $________
(f) Excess Fraud
Losses $________
(g) Debt Service
Reductions $________
(13) Compensating Interest Payment: $________
(14) Accrued Certificate Interest,
Unpaid Class Interest Shortfalls
and Pay-out Rate:
Class A1 $__________ $__________ ____%
Class A2 $__________ $__________ ____%
Class A3 $__________ $__________ ____%
Class A4 $__________ $__________ ____%
Class A5 $__________ $__________ ____%
Class A6 $__________ $__________ ____%
Class A7 $__________ $__________ ____%
Class A8 $__________ $__________ ____%
Class A9 $__________ $__________ ____%
Class A10 $__________ $__________ ____%
Class A11 $__________ $__________ ____%
Class A12 $__________ $__________ ____%
Class M $__________ $__________ ____%
Class B1 $__________ $__________ ____%
Class B2 $__________ $__________ ____%
Class B3 $__________ $__________ ____%
Class B4 $__________ $__________ ____%
Class B5 $__________ $__________ ____%
Class R $__________ $__________ ____%
Class S $__________ $__________ ____%
(15) Accrual Amount
Class A9 $__________
<PAGE>
(16) Principal distribu-
table:
Class A1 $__________
Class A2 $__________
Class A3 $__________
Class A4 $__________
Class A5 $__________
Class A6 $__________
Class A7 $__________
Class A8 $__________
Class A9 $__________
Class A10 $__________
Class A11 $__________
Class A12 $__________
Class PO $__________
Class M $__________
Class B1 $__________
Class B2 $__________
Class B3 $__________
Class B4 $__________
Class B5 $__________
Class R $__________
(17) Additional distributions to
the Class R Certificate
pursuant to Section 4.01(b): $_____________
(18) Certificate Interest Rate of:
Class S Certificates _____________%
<PAGE>
B. Other Amounts:
1. Senior Percentage for such
Distribution Date: _____________%
2. Group I Senior Percentage
for such Distribution Date: _____________%
3. Group II Senior Percentage
for such Distribution Date: _____________%
4. Senior Prepayment Percentage
for such Distribution Date: _____________%
5. Group I Senior Prepayment
Percentage for such
Distribution Date: _____________%
6. Group II Senior Prepayment
Percentage for such
Distribution Date: _____________%
7. Junior Percentage
for such Distribution Date: _____________%
8. Junior Prepayment Percentage
for such Distribution Date: _____________%
9. Subordinate Certificate
Writedown Amount for
such Distribution Date: $_____________
10. Prepayment Distribution
Triggers satisfied: Yes No
Class B1 ______ ______
Class B2 ______ ______
Class B3 ______ ______
Class B4 ______ ______
Class B5 ______ ______
Capitalized terms used in this Certificate shall have the same
meanings as in the Agreement.
<PAGE>
EXHIBIT E
FORM OF TRANSFER CERTIFICATE AS TO ERISA MATTERS FOR
DEFINITIVE ERISA-RESTRICTED CERTIFICATES
State Street Bank and Trust Company
Corporate Trust Department
225 Franklin Street
Boston, Massachusetts 02110
[NAME OF OFFICER] ______________________ hereby certifies
that:
1. That he [she] is [title of officer] _________________ of
[name of Investor] _______________________________________ (the
"Investor"), a ________________________ [description of type of
entity] duly organized and existing under the laws of the [State
of ____________] [United States], on behalf of which he [she]
makes this affidavit.
2. The Investor (i) is not, and on ________________ [insert
date of transfer of Certificate to Investor] will not be, and on
such date will not be investing the funds of, an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Code or (ii) is an insurance company investing assets of its
general account and the exemptions provided by Section III(a) of
Department of Labor Prohibited Transaction Class Exemption 95-60,
60 Fed. Reg. 35925 (July 12, 1995) (the "Exemptions") apply to
the Investor's acquisition and holding or any ERISA-Restricted
Certificate.
3. The Investor hereby acknowledges that under the terms of
the Pooling and Servicing Agreement (the "Agreement") between
State Street Bank and Trust Company, as Trustee and GE Capital
Mortgage Services, Inc., dated as of July 1, 1997, no transfer of
any ERISA-Restricted Certificate shall be permitted to be made to
any person unless the Trustee has received (i) a certificate from
such transferee to the effect that (x) such transferee is not an
employee benefit plan subject to ERISA or a plan subject to
Section 4975 of the Code (a "Plan") and is not using the assets
of any such employee benefit or other plan to acquire any such
Certificate or (y) such transferee is an insurance company
investing assets of its general account and the Exemptions apply
to such transferee's acquisition and holding of any such
Certificate or (ii) an opinion of counsel satisfactory to the
Trustee to the effect that the purchase and holding of any such
Certificate will not constitute or result in the assets of the
Trust Fund created by the Agreement being deemed to be "plan
assets" and subject to the prohibited transaction provisions of
ERISA or Section 4975 of the Code and will not subject the
<PAGE>
Trustee or the Company to any obligation in addition to those
undertaken in the Agreement (provided, however, that the Trustee
will not require such certificate or opinion in the event that,
as a result of change of law or otherwise, counsel satisfactory
to the Trustee has rendered an opinion to the effect that the
purchase and holding of any such Certificate by a Plan or a
Person that is purchasing or holding any such Certificate with
the assets of a Plan will not constitute or result in a
prohibited transaction under ERISA or Section 4975 of the Code).
[4. The ERISA-Restricted Certificates shall be registered
in the name of ______________________________________________ as
nominee for the Investor.]
IN WITNESS WHEREOF, the Investor has caused this instrument
to be executed on its behalf, pursuant to authority of its Board
of Directors, by its [title of officer] __________________ and
its corporate seal to be hereunder attached, attested by its
[Assistant] Secretary, this ____ day of _________, 199_.
________________________________
[name of Investor]
By:_____________________________
Name:
Title:
The undersigned hereby
acknowledges that it is holding
and will hold the ERISA-Restricted
Certificates at the exclusive
direction of and as nominee of
the Investor named above.
_______________________________
[name of nominee]
By:____________________________
Name:
Title:
<PAGE>
EXHIBIT F
FORM OF RESIDUAL CERTIFICATE TRANSFEREE AFFIDAVIT
STATE OF )
) ss.:
COUNTY OF )
[NAME OF OFFICER], _________________ being first duly
sworn, deposes and says:
1. That he [she] is [title of officer] ___________
_____________ of [name of Purchaser] ________________________
_________________ (the "Purchaser"), a _______________________
[description of type of entity] duly organized and existing under
the laws of the [State of __________] [United States], on behalf
of which he [she] makes this affidavit.
2. That the Purchaser's Taxpayer Identification
Number is [ ].
3. That the Purchaser is not a "disqualified
organization" within the meaning of Section 860E(e)(5) of the
Internal Revenue Code of 1986, as amended (the "Code") and will
not be a "disqualified organization" as of [date of transfer],
and that the Purchaser is not acquiring a Residual Certificate
(as defined below) for the account of, or as agent (including a
broker, nominee, or other middleman) for, any person or entity
from which it has not received an affidavit substantially in the
form of this affidavit. For these purposes, a "disqualified
organization" means the United States, any state or political
subdivision thereof, any foreign government, any international
organization, any agency or instrumentality of any of the
foregoing (other than an instrumentality if all of its activities
are subject to tax and a majority of its board of directors is
not selected by such governmental entity), any cooperative
organization furnishing electric energy or providing telephone
service to persons in rural areas as described in Code Section
1381(a)(2)(C), or any organization (other than a farmers'
cooperative described in Code Section 521) that is exempt from
federal income tax unless such organization is subject to the tax
on unrelated business income imposed by Code Section 511. As used
herein, "Residual Certificate" means any Certificate designated
as a "Class R Certificate" of GE Capital Mortgage Services,
Inc.'s REMIC Multi-Class Pass-Through Certificates, Series
1997-7.
4. That the Purchaser is not, and on __________
[insert date of transfer of Residual Certificate to Purchaser]
will not be, and is not and on such date will not be investing
<PAGE>
the assets of, an employee benefit plan subject to the Employee
Retirement Income Security Act of 1974, as amended ("ERISA"), or
a plan subject to Code Section 4975 or a person or entity that is
using the assets of any employee benefit plan or other plan to
acquire a Residual Certificate.
5. That the Purchaser hereby acknowledges that under
the terms of the Pooling and Servicing Agreement (the
"Agreement") between State Street Bank and Trust Company, as
Trustee, and GE Capital Mortgage Services, Inc. dated as of July
1, 1997, no transfer of the Residual Certificates shall be
permitted to be made to any person unless the Trustee has
received a certificate from such transferee to the effect that
such transferee is not an employee benefit plan subject to ERISA
or a plan subject to Section 4975 of the Code and is not using
the assets of any employee benefit plan or other plan to acquire
Residual Certificates.
6. That the Purchaser does not hold REMIC residual
securities as nominee to facilitate the clearance and settlement
of such securities through electronic book-entry changes in
accounts of participating organizations (such entity, a
"Book-Entry Nominee").
7. That the Purchaser does not have the intention to
impede the assessment or collection of any federal, state or
local taxes legally required to be paid with respect to such
Residual Certificate.
8. That the Purchaser will not transfer a Residual
Certificate to any person or entity (i) as to which the Purchaser
has actual knowledge that the requirements set forth in paragraph
3, paragraph 6 or paragraph 10 hereof are not satisfied or that
the Purchaser has reason to believe does not satisfy the
requirements set forth in paragraph 7 hereof, and (ii) without
obtaining from the prospective Purchaser an affidavit
substantially in this form and providing to the Trustee a written
statement substantially in the form of Exhibit G to the
Agreement.
9. That the Purchaser understands that, as the holder
of a Residual Certificate, the Purchaser may incur tax
liabilities in excess of any cash flows generated by the interest
and that it intends to pay taxes associated with holding such
Residual Certificate as they become due.
10. That the Purchaser (i) is not a Non-U.S. Person or
(ii) is a Non-U.S. Person that holds a Residual Certificate in
connection with the conduct of a trade or business within the
United States and has furnished the transferor and the Trustee
with an effective Internal Revenue Service Form 4224 or successor
form at the time and in the manner required by the Code or (iii)
<PAGE>
is a Non-U.S. Person that has delivered to both the transferor
and the Trustee an opinion of a nationally recognized tax counsel
to the effect that the transfer of such Residual Certificate to
it is in accordance with the requirements of the Code and the
regulations promulgated thereunder and that such transfer of a
Residual Certificate will not be disregarded for federal income
tax purposes. "Non-U.S. Person" means an individual, corporation,
partnership or other person other than a citizen or resident of
the United States, a corporation, partnership or other entity
created or organized in or under the laws of the United States or
any political subdivision thereof, or an estate or trust that is
subject to U.S. federal income tax regardless of the source of
its income.
11. That the Purchaser agrees to such amendments of
the Pooling and Servicing Agreement as may be required to further
effectuate the restrictions on transfer of any Residual
Certificate to such a "disqualified organization," an agent
thereof, a Book-Entry Nominee, or a person that does not satisfy
the requirements of paragraph 7 and paragraph 10 hereof.
12. That the Purchaser consents to the designation of
the Company as its agent to act as "tax matters person" of the
Trust Fund, as applicable, pursuant to the Pooling and Servicing
Agreement.
<PAGE>
IN WITNESS WHEREOF, the Purchaser has caused this
instrument to be executed on its behalf, pursuant to authority of
its Board of Directors, by its [title of officer] this _____ day
of __________, 19__.
_________________________________
[name of Purchaser]
By:______________________________
Name:
Title:
Personally appeared before me the above-named [name of
officer] ________________, known or proved to me to be the same
person who executed the foregoing instrument and to be the [title
of officer] _________________ of the Purchaser, and acknowledged
to me that he [she] executed the same as his [her] free act and
deed and the free act and deed of the Purchaser.
Subscribed and sworn before me this _____ day of
__________, 19__.
NOTARY PUBLIC
______________________________
COUNTY OF_____________________
STATE OF______________________
My commission expires the _____ day of __________, 19__.
<PAGE>
EXHIBIT G
[LETTER FROM TRANSFEROR OF RESIDUAL CERTIFICATE]
___________________
Date
State Street Bank and Trust Company
Corporate Trust Department
225 Franklin Street
8th Floor
Boston, Massachusetts 02110
Re: GE Capital Mortgage Services, Inc.
REMIC Multi-Class Pass-Through
Certificates, Series 1997-7
Ladies and Gentlemen:
_______________________ (the "Transferor") has
reviewed the attached affidavit of _____________________________
(the "Transferee"), and has no actual knowledge that such
affidavit is not true and has no reason to believe that the
information contained in paragraph 7 thereof is not true, and has
no reason to believe that the Transferee has the intention to
impede the assessment or collection of any federal, state or
local taxes legally required to be paid with respect to a
Residual Certificate. In addition, the Transferor has conducted a
reasonable investigation at the time of the transfer and found
that the Transferee had historically paid its debts as they came
due and found no significant evidence to indicate that the
Transferee will not continue to pay its debts as they become due.
Very truly yours,
_____________________________
Name:
Title:
<PAGE>
EXHIBIT H
ADDITIONAL SERVICER COMPENSATION
QUALIFIED ADMINISTRATIVE EXPENSES
(Conventional, Non-Conforming Loans)
Assumption Fees $550 - $800
Late Charges Per Loan Documents
Appraisal/Inspection Fees Reasonable and Customary
Charges
Partial Release Fees $300
Easements $150
Insufficient Funds Charges $15
Document Requests
(copies of loan file documents,
additional pay-off quotations,
amortization schedules, payment
histories) $0
Modification Fees Reasonable and Customary
Charges
<PAGE>
EXHIBIT I
FORM OF INVESTMENT LETTER FOR
DEFINITIVE RESTRICTED CERTIFICATES
_________________
Date
State Street Bank and Trust Company
Corporate Trust Department
225 Franklin Street
8th Floor
Boston, Massachusetts 02110
Re: GE Capital Mortgage Services, Inc.
REMIC Multi-Class Pass Through
Certificates, Series 1997-7
Ladies and Gentlemen:
1. The undersigned, a [title of officer] _______________ of
[name of Investor] _________________________________________ (the
"Investor"), a ____________________________ [description of type
of entity] duly organized and existing under the laws of the
[State of __________________] [United States], hereby certifies
as follows:
2. The Investor hereby acknowledges that under the terms of
the Pooling and Servicing Agreement between State Street Bank and
Trust Company, as Trustee, and GE Capital Mortgage Services, Inc.
(the "Company"), dated as of July 1, 1997 (the "Agreement"), no
transfer of a Restricted Certificate may be made unless such
transfer is exempt from the registration requirements of the
Securities Act of 1933, as amended (the "Securities Act"), and
any applicable state securities laws, or is made in accordance
with the Securities Act and such laws.
3. The Investor understands that (a) the Restricted
Certificates have not been and will not be registered or
qualified under the Securities Act, or the securities laws of any
state, (b) neither the Company nor the Trustee is required, and
neither intends, to so register or qualify the Restricted
Certificates, (c) the Restricted Certificates cannot be resold
unless (i) they are registered and qualified under the Securities
Act and the applicable state securities laws or (ii) such sale is
exempt from the requirements of the Securities Act, (d) the
Agreement contains restrictions regarding the transfer of the
Restricted Certificates and (e) the Restricted Certificates will
bear a legend to the foregoing effect.
<PAGE>
4. The Investor is acquiring the Restricted Certificates
for its own account for investment only and not with a view to or
for sale or other transfer in connection with any distribution of
the Restricted Certificates in any manner that would violate the
Securities Act or any applicable state securities laws.
5. The investor (a) is a substantial, sophisticated
institutional investor having such knowledge and experience in
financial and business matters, and in particular in such matters
related to securities similar to the Restricted Certificates,
such that it is capable of evaluating the merits and risks of
investment in the Restricted Certificates, (b) is able to bear
the economic risks of such an investment and (c) is an
"accredited investor" within the meaning of Rule 501(a)(1), (2),
(3) or (7) promulgated pursuant to the Securities Act.
6. The Investor will not authorize nor has it authorized
any person to (a) offer, pledge, sell, dispose of or otherwise
transfer any Restricted Certificate, any interest in any
Restricted Certificate or any other similar security to any
person in any manner, (b) solicit any offer to buy or to accept a
pledge, disposition or other transfer of any Restricted
Certificate, any interest in any Restricted Certificate or any
other similar security from any person in any manner, (c)
otherwise approach or negotiate with respect to any Restricted
Certificate, any interest in any Restricted Certificate or any
other similar security with any person in any manner, (d) make
any general solicitation by means of general advertising or in
any other manner, or (e) take any other action that would
constitute a distribution of any Restricted Certificate under the
Securities Act, that would render the disposition of any
Restricted Certificate a violation of Section 5 of the Securities
Act or any state securities law, or that could require
registration or qualification pursuant thereto. Neither the
Investor nor anyone acting on its behalf has offered the
Restricted Certificates for sale or made any general solicitation
by means of general advertising or in any other manner with
respect to the Restricted Certificates. The Investor will not
sell or otherwise transfer any of the Restricted Certificates,
except in compliance with the provisions of the Agreement.
7. If an Investor in a Restricted Certificate sells or
otherwise transfers any such Certificate to a transferee other
than a "qualified institutional buyer" under Rule 144A of the
Securities Act, such Investor will obtain (a) from any subsequent
purchaser the same certifications, representations, warranties
and covenants contained in the foregoing paragraphs and in this
paragraph or (b) an opinion of counsel in form and substance
satisfactory to the Trustee pursuant to the Agreement.
8. The Investor hereby indemnifies the Trustee and the
Company against any liability that may result if the Investor's
<PAGE>
transfer of a Restricted Certificate (or any portion thereof) is
not exempt from the registration requirements of the Securities
Act and any applicable state securities laws or is not made in
accordance with such federal and state laws. Such indemnification
of the Trustee and the Company shall survive the termination of
the Agreement.
[9. The Restricted Certificates shall be registered in the
name of _____________________________ as nominee for the
Investor.]
IN WITNESS WHEREOF, the Investor has caused this
instrument to be executed on its behalf, pursuant to authority of
its Board of Directors, by its [title of officer] _____________
this _____ day of __________, 19__.
_________________________________
[name of Investor]
By:______________________________
Name:
Title:
The undersigned hereby acknowledges that it is holding and
will hold the Restricted Certificates at the exclusive direction
of and as nominee of the Investor named above.
_____________________________
[name of nominee]
By:__________________________
Name:
Title:
<PAGE>
EXHIBIT J
FORM OF DISTRIBUTION DATE STATEMENT
________________, ______
(month) (year)
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC Multi-Class Pass-Through Certificates,
Series 1997-7
Pursuant to the Pooling and Servicing Agreement dated
as of July 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:
The amounts below are for a Single Certificate of
$1,000:
(1) Amount of distribution
allocable to principal:
Class A1 $__________
Class A2 $__________
Class A3 $__________
Class A4 $__________
Class A5 $__________
Class A6 $__________
Class A7 $__________
Class A8 $__________
Class A9 $__________
Class A10 $__________
Class A11 $__________
Class A12 $__________
Class PO $__________
Class M $__________
Class B1 $__________
Class B2 $__________
Class B3 $__________
Class B4 $__________
Class B5 $__________
Class R $__________
(2) Aggregate principal prepayments
included in distribution:
<PAGE>
Class A1 $__________
Class A2 $__________
Class A3 $__________
Class A4 $__________
Class A5 $__________
Class A6 $__________
Class A7 $__________
Class A8 $__________
Class A9 $__________
Class A10 $__________
Class A11 $__________
Class A12 $__________
Class PO $__________
Class M $__________
Class B1 $__________
Class B2 $__________
Class B3 $__________
Class B4 $__________
Class B5 $__________
Class R $__________
(3) Amount of distribution
allocable to interest;
Pay-out Rate:
Class A1 $__________ ____%
Class A2 $__________ ____%
Class A3 $__________ ____%
Class A4 $__________ ____%
Class A5 $__________ ____%
Class A6 $__________ ____%
Class A7 $__________ ____%
Class A8 $__________ ____%
Class A9 $__________ ____%
Class A10 $__________ ____%
Class A11 $__________ ____%
Class A12 $__________ ____%
Class M $__________ ____%
Class B1 $__________ ____%
Class B2 $__________ ____%
Class B3 $__________ ____%
Class B4 $__________ ____%
Class B5 $__________ ____%
Class R $__________ ____%
Class S $__________ ____%
(4) Accrual Amount
Class A9 $__________
(5) Servicing Compensation: $__________
2
<PAGE>
The amounts below are for the aggregate of all
Certificates:
(6) Pool Scheduled Principal
Balance; number of
Mortgage Loans: $__________ __________
(7) Class Certificate Principal
Balance (or Notional Principal
Balance) of each Class;
Certificate Principal Balance
(or Notional Principal Balance)
of Single Certificate of each
Class:
Single
Certificate
Class Balance Balance
Class A1 $__________ $__________
Class A2 $__________ $__________
Class A3 $__________ $__________
Class A4 $__________ $__________
Class A5 $__________ $__________
Class A6 $__________ $__________
Class A7 $__________ $__________
Class A8 $__________ $__________
Class A9 $__________ $__________
Class A10 $__________ $__________
Class A11 $__________ $__________
Class A12 $__________ $__________
Class PO $__________ $__________
Class M $__________ $__________
Class B1 $__________ $__________
Class B2 $__________ $__________
Class B3 $__________ $__________
Class B4 $__________ $__________
Class B5 $__________ $__________
Class R $__________ $__________
Class S $__________ $__________
(8) Book value of real
estate acquired on
behalf of Certificate-
holders; number of
related Mortgage Loans:
$__________ __________
(9) Aggregate Scheduled Principal
3
<PAGE>
Balance and number of
delinquent Mortgage Loans:
30-59 days delinquent $__________ __________
60-89 days delinquent $__________ __________
90 or more days delinquent $__________ __________
In foreclosure $__________ __________
(10) Aggregate Scheduled
Principal Balance and
number of replaced
Mortgage Loans: $__________ __________
(11) Aggregate Scheduled
Principal Balance and
number of modified
Mortgage Loans: $__________ __________
(12) Certificate Interest Rate of:
Class S Certificates __________%
(13) Senior Percentage for such
Distribution Date: __________%
(14) Group I Senior Percentage
for such Distribution Date: __________%
(15) Group II Senior Percentage
for such Distribution Date: __________%
(16) Senior Prepayment Percentage
for such Distribution Date: __________%
4
<PAGE>
(17) Group I Senior Prepayment
Percentage for such
Distribution Date: __________%
(18) Group II Senior Prepayment
Percentage for such
Distribution Date: __________%
(19) Junior Percentage for
such Distribution Date: __________%
(20) Junior Prepayment Percentage
for such Distribution Date: __________%
Capitalized terms used in this Statement shall have the same
meanings as in the Agreement.
5
<PAGE>
EXHIBIT K
FORM OF SPECIAL SERVICING
AND COLLATERAL FUND AGREEMENT
This SPECIAL SERVICING AND COLLATERAL FUND AGREEMENT (the
"Agreement") is made and entered into as of ____________________,
199_, between GE Capital Mortgage Services, Inc. (the "Company")
and _____________________________ (the "Purchaser").
PRELIMINARY STATEMENT
___________________________ or an affiliate thereof is the
holder of the entire interest in REMIC Multi-Class Pass-Through
Certificates, Series 199_-__, Class B_ (the "Class B_
Certificates"). The Class B_ Certificates were issued pursuant to
a Pooling and Servicing Agreement (the "Pooling and Servicing
Agreement") dated as of ________ 1, 199_ between the Company (in
its capacity as servicer thereunder, the "Servicer") and State
Street Bank and Trust Company as Trustee.
____________________________ or an affiliate thereof
intends to resell all of the Class B_ Certificates directly to
the Purchaser on or promptly after the date hereof.
In connection with such sale, the parties hereto have
agreed that the Company, as Servicer, will engage in certain
special servicing procedures relating to foreclosures for the
benefit of the Purchaser, and that the Purchaser will deposit
funds in a collateral fund to cover any losses attributable to
such procedures as well as all advances and costs in connection
therewith, as set forth herein.
[The parties hereto have further agreed that the Purchaser
will have no rights, and the Company will have no obligations
under this Agreement until the Class Certificate Principal
Balance of the REMIC Multi-Class Pass-Through Certificates,
Series 199_-__, Class B5 (the "Class B5 Certificates") has been
reduced to zero, and any Special Servicing and Collateral Fund
Agreement in respect of such Class between the Company and the
Purchaser has been terminated.]
In consideration of the mutual agreements herein contained,
the receipt and sufficiency of which are hereby acknowledged, the
Company and the Purchaser agree that the following provisions
shall become effective and shall be binding on and enforceable by
the Company and the Purchaser upon the acquisition by the
Purchaser of the Class B_ Certificates.
<PAGE>
ARTICLE I
DEFINITIONS
Section 1.01. Defined Terms. Whenever used in this
Agreement, the following words and phrases, unless the context
otherwise requires, shall have the following meanings:
Business Day: Any day other than (i) a Saturday or a Sunday
of (ii) a day on which banking institutions in New York City or
Boston, Massachusetts are required or authorized by law or
executive order to be closed.
Collateral Fund: The fund established and maintained
pursuant to Section 3.01 hereof.
Collateral Fund Permitted Investments: Either (i)
obligations of, or obligations fully guaranteed as to principal
and interest by, the United States, or any agency or
instrumentality thereof, provided such obligations are backed by
the full faith and credit of the United States, (ii) repurchase
agreements on obligations specified in clause (i) provided that
the unsecured obligations of the party agreeing to repurchase
such obligations are at the time rated by each Rating Agency in
the highest long-term rating category, (iii) federal funds,
certificates of deposit, time deposits and banker's acceptances
of any U.S. depository institution or trust company incorporated
under the laws of the United States or any state provided that
the debt obligations of such depository institution or trust
company at the date of acquisition thereof have been rated by
each Rating Agency in the highest long-term rating category, (iv)
commercial paper of any corporation incorporated under the laws
of the United States or any state thereof which on the date of
acquisition has the highest short term rating of each Rating
Agency, and (v) other obligations or securities that are
acceptable to each Rating Agency as a Collateral Fund Permitted
Investment hereunder and will not, as evidenced in writing,
result in a reduction or withdrawal in the then current rating of
the Certificates and, for each of the preceding clauses, the
maturity thereof shall be not later than the earlier to occur of
(A) 30 days from the date of the related investment and (B) the
Business Day preceding the next succeeding Distribution Date.
Commencement of Foreclosure: The first official action
required under local law in order to commence foreclosure
proceedings or to schedule a trustee's sale under a deed of
trust, including (i) in the case of a mortgage, any filing or
service of process necessary to commence an action to foreclose,
or (ii) in the case of a deed of trust, the posting, publishing,
filing or delivery of a notice of sale, but not including in
2
<PAGE>
either case (x) any notice of default, notice of intent to
foreclose or sell or any other action prerequisite to the actions
specified in (i) or (ii) above and, upon the consent of the
Purchaser which will be deemed given unless expressly withheld
within two Business Days of notification, (y) the acceptance of a
deed-in-lieu of foreclosure (whether in connection with a sale of
the related property or otherwise) or (z) initiation and
completion of a short pay-off.
Current Appraisal: With respect to any Mortgage Loan as to
which the Purchaser has made an Election to Delay Foreclosure, an
appraisal of the related Mortgaged Property obtained by the
Purchaser as nearly contemporaneously as practicable to the time
of the Purchaser's election, prepared based on the Company's
customary requirements for such appraisals.
Election to Delay Foreclosure: Any election by the
Purchaser to delay the Commencement of Foreclosure, made in
accordance with Section 2.02(b).
Election to Foreclose: Any election by the Purchaser to
proceed with the Commencement of Foreclosure, made in accordance
with Section 2.03(a).
Required Collateral Fund Balance: As of any date of
determination, an amount equal to the aggregate of all amounts
previously required to be deposited in the Collateral Fund
pursuant to Section 2.02(d) (after adjustments for all
withdrawals and deposits prior to such date pursuant to Section
2.02(e)) and Section 2.03(b) (after adjustment for all
withdrawals and deposits prior to such date pursuant to Section
2.03(c)) and Section 3.02, reduced by all withdrawals therefrom
prior to such date pursuant to Section 2.02(g) and Section
2.03(d).
Section 1.02. Definitions Incorporated by Reference. All
capitalized terms not otherwise defined in this Agreement shall
have the meanings assigned in the Pooling and Servicing
Agreement.
3
<PAGE>
ARTICLE II
SPECIAL SERVICING PROCEDURES
Section 2.01. Reports and Notices.
(a) In connection with the performance of its duties under
the Pooling and Servicing Agreement relating to the realization
upon defaulted Mortgage Loans, the Company as Servicer shall
provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution
Date (or included in or with the monthly statements to
Certificateholders pursuant to the Pooling and Servicing
Agreement), the Company, as Servicer, shall provide to the
Purchaser a report, using the same methodology and
calculations in its standard servicing reports, indicating
for the Trust Fund the number of Mortgage Loans that are
(A) thirty days, (B) sixty days, (C) ninety days or more
delinquent or (D) in foreclosure, and indicating for each
such Mortgage Loan the loan number and outstanding
principal balance.
(ii) Prior to the Commencement of Foreclosure in
connection with any Mortgage Loan, the Company shall
provide the Purchaser with a notice (sent by facsimile
transmission) of such proposed and imminent foreclosure,
stating the loan number and the aggregate amount owing
under the Mortgage Loan. Such notice may be provided to the
Purchaser in the form of a copy of a referral letter from
the Company to an attorney requesting the institution of
foreclosure or a copy of a request to foreclose received by
the Company from the related primary servicer which has
been approved by the Company.
(b) If requested by the Purchaser, the Company shall make
its servicing personnel available (during their normal business
hours) to respond to reasonable inquiries, in writing by
facsimile transmission, by the Purchaser in connection with any
Mortgage Loan identified in a report under subsection (a)(i) or
(a)(ii) which has been given to the Purchaser, provided, that (1)
the Company shall only be required to provide information that is
readily accessible to its servicing personnel and is
non-confidential and (2) the Company shall respond within five
Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company shall provide
to the Purchaser such information as the Purchaser may reasonably
request concerning each Mortgage Loan that is at least sixty days
delinquent and each Mortgage Loan which has become real estate
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owned, through the final liquidation thereof, provided, that the
Company shall only be required to provide information that is
readily accessible to its servicing personnel and is
non-confidential.
Section 2.02. Purchaser's Election to Delay Foreclosure
Proceedings.
(a) The Purchaser shall be deemed to direct the Company
that in the event that the Company does not receive written
notice of the Purchaser's election pursuant to subsection (b)
below within 24 hours (exclusive of any intervening non-Business
Days) of transmission of the notice provided by the Company under
Section 2.01(a)(ii) subject to extension as set forth in Section
2.02(b), the Company may proceed with the Commencement of
Foreclosure in respect of such Mortgage Loan in accordance with
its normal foreclosure policies without further notice to the
Purchaser. Any foreclosure that has been initiated may be
discontinued (i) without notice to the Purchaser if the Mortgage
Loan has been brought current or if a refinancing or prepayment
occurs with respect to the Mortgage Loan (including by means of a
short payoff approved by the Company) or (ii) with notice to the
Purchaser if the Company has reached the terms of a forbearance
agreement with the borrower. In such latter case the Company may
complete such forbearance agreement unless instructed otherwise
by the Purchaser within two Business Days of notification.
(b) In connection with any Mortgage Loan with respect to
which a notice under Section 2.01(a)(ii) has been given to the
Purchaser, the Purchaser may elect to instruct the Company to
delay the Commencement of Foreclosure until such time as the
Purchaser determines that the Company may proceed with the
Commencement of Foreclosure. Such election must be evidenced by
written notice received within 24 hours (exclusive of any
intervening non-Business Days) of transmission of the notice
provided by the Company under Section 2.01(a)(ii). The Purchaser
shall send a copy of such notice of election to each Rating
Agency as soon as practicable thereafter. Such 24-hour period
shall be extended for no longer than an additional four Business
Days after the receipt of the information if the Purchaser
requests additional information related to such foreclosure
within such 24-hour period; provided, however, that the Purchaser
will have at least one Business Day to make such election
following its receipt of any requested additional information.
Any such additional information shall (i) not be confidential in
nature and (ii) be obtainable by the Company from existing
reports, certificates or statements or otherwise be readily
accessible to its servicing personnel. The Purchaser agrees that
it has no right to deal with the mortgagor. However, if the
Company's normal foreclosure policies include acceptance of a
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deed-in-lieu of foreclosure or short payoff, the Purchaser will
be notified and given two Business Days to respond.
(c) With respect to any Mortgage Loan as to which the
Purchaser has made an Election to Delay Foreclosure, the
Purchaser shall obtain a Current Appraisal as soon as
practicable, and shall provide the Company with a copy of such
Current Appraisal.
(d) Within two Business Days of making any Election to
Delay Foreclosure, the Purchaser shall remit by wire transfer to
the Trustee, for deposit in the Collateral Fund, an amount, as
calculated by the Company, equal to the sum of (i) 125% of the
greater of the Scheduled Principal Balance of the Mortgage Loan
and the value shown in the Current Appraisal referred to in
subsection (c) above (or, if such Current Appraisal has not yet
been obtained, the Company's estimate thereof, in which case the
required deposit under this subsection shall be adjusted upon
obtaining such Current Appraisal), and (ii) three months'
interest on the Mortgage Loan at the applicable Mortgage Rate. If
any Election to Delay Foreclosure extends for a period in excess
of three months (such excess period being referred to herein as
the "Excess Period"), the Purchaser shall remit by wire transfer
in advance to the Trustee for deposit in the Collateral Fund the
amount of each additional month's interest, as calculated by the
Company, equal to interest on the Mortgage Loan as the applicable
Mortgage Rate for the Excess Period. The terms of this Agreement
will no longer apply to the servicing of any Mortgage Loan upon
the failure of the Purchaser to deposit the above amounts
relating to the Mortgage Loan within two Business Days of (i) the
Election to Delay Foreclosure or (ii) the beginning of the
related Excess Period, as the case may be.
(e) With respect to any Mortgage Loan as to which the
Purchaser has made an Election to Delay Foreclosure, the Company
or the Trustee may withdraw from the Collateral Fund from time to
time amounts necessary to reimburse the Company for all related
Monthly Advances and Liquidation Expenses thereafter made by the
Company as Servicer in accordance with the Pooling and Servicing
Agreement. To the extent that the amount of any such Liquidation
Expense is determined by the Company based on estimated costs,
and the actual costs are subsequently determined to be higher,
the Company or the Trustee may withdraw the additional amount
from the Collateral Fund to reimburse the Company. In the event
that the Mortgage Loan is brought current by the mortgagor, the
amounts so withdrawn from the Collateral Fund shall be
redeposited therein as and to the extent that reimbursement
therefor from amounts paid by the mortgagor is not prohibited
pursuant to the Pooling and Servicing Agreement as of the date
hereof. Except as provided in the preceding sentence, amounts
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withdrawn from the Collateral Fund to cover Monthly Advances and
Liquidation Expenses shall not be redeposited therein or
otherwise reimbursed to the Purchaser. If and when any such
Mortgage Loan is brought current by the mortgagor, all amounts
remaining in the Collateral Fund in respect of such Mortgage Loan
(after adjustment for all previous withdrawals and deposits
pursuant to this subsection and after reimbursement to the
Servicer for all related Monthly Advances) shall be released to
the Purchaser.
(f) With respect to any Mortgage Loan as to which the
Purchaser has made an Election to Delay Foreclosure, the Company
shall continue to service the Mortgage Loan in accordance with
its customary procedures (other than the delay in Commencement of
Foreclosure as provided herein). If and when, following such
election, the Purchaser shall notify the Company that it believes
that it is appropriate to do so, the Company shall proceed with
the Commencement of Foreclosure; provided that, in any event, if
the Mortgage Loan is not brought current by the mortgagor by the
time the loan becomes 6 months delinquent, the Purchaser's
election shall no longer be effective, unless the Purchaser shall
have purchased the related Mortgage Loan promptly following (and
in any event not later than the third Business Day after) the end
of such 6-month period in the manner provided in the following
two sentences, and the Company shall be entitled to proceed with
the Commencement of Foreclosure. Any purchase of such Mortgage
Loan by the Purchaser pursuant to the preceding sentence shall be
at a purchase price equal to the unpaid principal balance of the
Mortgage Loan plus accrued interest at the Mortgage Rate from the
date last paid by the mortgagor. Such purchase price shall be
deposited by the Purchaser into the Collateral Fund in
immediately available funds on the Business Day which is the date
of purchase and the Purchaser shall instruct the Trustee (with
notice to the Company) to withdraw such amount therefrom on such
Business Day and remit the same to the Trust Fund for application
as Liquidation Proceeds pursuant to the Pooling and Servicing
Agreement. Following such withdrawal, all amounts remaining in
the Collateral Fund in respect of such Mortgage Loan (after
adjustment for all previous withdrawals and deposits pursuant to
this Agreement and after reimbursement to the Servicer for all
related Monthly Advances) shall be released to the Purchaser.
(g) Upon the occurrence of a liquidation with respect to
any Mortgage Loan as to which the Purchaser made an Election to
Delay Foreclosure and as to which the Company proceeded with the
Commencement of Foreclosure in accordance with subsection (f)
above, the Company shall calculate the amount, if any, by which
the value shown on the Current Appraisal obtained under
subsection (c) exceeds the actual sales price obtained for the
related Mortgaged Property (net of Liquidation Expenses and
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unreimbursed Monthly Advances related to the extended foreclosure
period), and the Company or the Trustee shall withdraw the amount
of such excess from the Collateral Fund and shall remit the same
to the Trust Fund for application as additional Liquidation
Proceeds pursuant to the Pooling and Servicing Agreement. After
making such withdrawal, all amounts remaining in the Collateral
Fund in respect of such Mortgage Loan (after adjustment for all
withdrawals and deposits pursuant to subsection (e) and after
reimbursement to the Servicer for all related Monthly Advances)
shall be released to the Purchaser.
Section 2.03. Purchaser's Election to Commence Foreclosure
Proceedings.
(a) In connection with any Mortgage Loan identified in a
report under Section 2.01(a)(i)(B), the Purchaser may elect to
instruct the Company to proceed with the Commencement of
Foreclosure as soon as practicable. Such election must be
evidenced by written notice received by the Company by 5:00 p.m.,
New York City time, on the third Business Day following the
delivery of such report under Section 2.01(a)(i).
(b) Within two Business Days of making any Election to
Foreclose, the Purchaser shall remit to the Trustee, for deposit
in the Collateral Fund, an amount, as calculated by the Company,
equal to 125% of the current Scheduled Principal Balance of the
Mortgage Loan and three months' interest on the Mortgage Loan at
the applicable Mortgage Rate. If and when any such Mortgage Loan
is brought current by the mortgagor, all amounts in the
Collateral Fund in respect of such Mortgage Loan (after
adjustment for all withdrawals and deposits pursuant to
subsection (c) below) shall be released to the Purchaser. The
terms of this Agreement will no longer apply to the servicing of
any Mortgage Loan upon the failure of the Purchaser to deposit
the above amounts relating to the Mortgage Loan within two
Business Days of the Election to Foreclose.
(c) With respect to any Mortgage Loan as to which the
Purchaser has made an Election to Foreclose, the Company shall
continue to service the Mortgage Loan in accordance with its
customary procedures. In connection therewith, the Company shall
have the same rights to make withdrawals for Monthly Advances and
Liquidation Expenses from the Collateral Fund as are provided
under Section 2.02(e), and the Company shall make reimbursements
thereto to the limited extent provided under such subsection. The
Company shall not be required to proceed with the Commencement of
Foreclosure if (i) the same is stayed as a result of the
mortgagor's bankruptcy or is otherwise barred by applicable law,
or to the extent that all legal conditions precedent thereto have
not yet been complied with, or (ii) the
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Company believes there is a breach of representations or
warranties by the Company, which may result in a repurchase or
substitution of such Mortgage Loan, or (iii) the Company has or
expects to have the right under the Pooling and Servicing
Agreement to purchase the defaulted Mortgage Loan and intends to
exercise such right or (iv) the Company reasonably believes the
Mortgaged Property may be contaminated with or affected by
hazardous wastes or hazardous substances (and the Company
supplies the Purchaser with information supporting such belief)
or (v) the same is prohibited by or is otherwise inconsistent
with the provisions of the Pooling and Servicing Agreement. Any
foreclosure that has been initiated may be discontinued (i)
without notice to the Purchaser if the Mortgage Loan has been
brought current or if a refinancing or prepayment occurs with
respect to the Mortgage Loan (including by means of a short
payoff approved by the Purchaser) or (ii) with notice to the
Purchaser if the Company has reached the terms of a forbearance
agreement unless instructed otherwise by the Purchaser within two
Business Days of notification.
(d) Upon the occurrence of a liquidation with respect to
any Mortgage Loan as to which the Purchaser made an Election to
Foreclose and as to which the Company proceeded with the
Commencement of Foreclosure in accordance with subsection (c)
above, the Company shall calculate the amount, if any, by which
the Scheduled Principal Balance of the Mortgage Loan at the time
of liquidation (plus all unreimbursed Monthly Advances and
Liquidation Expenses in connection therewith other than those
previously paid from the Collateral Fund) exceeds the actual
sales price obtained for the related Mortgaged Property, and the
Company or the Trustee shall withdraw the amount of such excess
from the Collateral Fund and shall remit the same to the Trust
Fund for application as additional Liquidation Proceeds pursuant
to the Pooling and Servicing Agreement. After making such
withdrawal, all amounts remaining in the Collateral Fund (after
adjustment for all withdrawals and deposits pursuant to
subsection (c) above and after reimbursement to the Servicer for
all related Monthly Advances) in respect of such Mortgage Loan
shall be released to the Purchaser.
Section 2.04. Termination.
(a) With respect to all Mortgage Loans included in the
Trust Fund, the Purchaser's right to make any Election to Delay
Foreclosure or any Election to Foreclose and the Company's
obligations under Section 2.01 shall terminate on the earliest to
occur of the following: (i) at such time as the Class Certificate
Principal Balance of the Class B_ Certificates has been reduced
to zero, (ii) if the greater of (x) 43% (or such lower or higher
percentage that represents the Company's actual
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loss experience with respect to the Mortgage Loans in the related
pool) of the aggregate principal balance of all Mortgage Loans
that are in foreclosure or are more than 90 days delinquent on a
contractual basis and the aggregate book value of REO properties
or (y) the aggregate amount that the Company estimates through
its normal servicing practices will be required to be withdrawn
from the Collateral Fund with respect to Mortgage Loans as to
which the Purchaser has made an Election to Delay Foreclosure or
an Election to Foreclose exceeds (z) the then-current Class
Certificate Principal Balance of the Class B_ Certificates, or
(iii) upon any transfer by the Purchaser of any interest (other
than the minority interest therein, but only if the transferee
provides written acknowledgment to the Company of the Purchaser's
right hereunder and that such transferee will have no rights
hereunder) in the Class B_ Certificates [or in the Class B5
Certificates] (whether or not such transfer is registered under
the Pooling and Servicing Agreement), including any such transfer
in connection with a termination of the Trust Fund. Unless
earlier terminated as set forth herein, this Agreement and the
respective rights, obligations and responsibilities of the
Purchaser and the Company hereunder shall terminate immediately
upon (x) the later to occur of (i) the final liquidation of the
last Mortgage Loan as to which the Purchaser made any Election to
Delay Foreclosure or any Election to Foreclose and the withdrawal
of all remaining amounts in the Collateral Fund as provided
herein and (ii) ten (10) Business Days' notice or (y) the
occurrence of any event that results in the Purchaser becoming an
"affiliate" of the Trustee within the meaning of the Prohibited
Transaction Exemption (as defined in the Pooling and Servicing
Agreement).
(b) The Purchaser's rights pursuant to Section 2.02 or 2.03
of this Agreement shall terminate with respect to a Mortgage Loan
as to which the Purchaser has exercised its rights under Section
2.02 or 2.03 hereof, upon Purchaser's failure to deposit any
amounts required pursuant to Section 2.02(d) or 2.03(b) after one
Business Day's notice of such failure.
Section 2.05. Notification. The Purchaser shall promptly
notify the Trustee and the Company if such Purchaser becomes
aware of any discussions, plans or events that might lead to such
Person's becoming an "affiliate" (within the meaning of the
Prohibited Transaction Exemption) of the Trustee, provided that
the contents of any such notification shall be kept confidential
by the parties to this Agreement.
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ARTICLE III
COLLATERAL FUND; SECURITY INTEREST
Section 3.01. Collateral Fund. Upon payment by the
Purchaser of the initial amount required to be deposited in the
Collateral Fund pursuant to Article II, the Company shall request
the Trustee to establish and maintain with the Trustee a
segregated account entitled "REMIC Multi-Class Pass-Through
Certificates 199_-__ Collateral Fund, for the benefit of GE
Capital Mortgage Services, Inc. and State Street Bank and Trust
Company on behalf of Certificateholders, as secured parties" (the
"Collateral Fund"). Amounts held in the Collateral Fund shall
continue to be the property of the Purchaser, subject to the
first priority security interest granted hereunder for the
benefit of such secured parties, until withdrawn from the
Collateral Fund pursuant to the Section 2.02 or 2.03 hereof.
Upon the termination of this Agreement and the liquidation
of all Mortgage Loans as to which the Purchaser has made any
Election to Delay Foreclosure or any Election to Foreclose
pursuant to Section 2.04 hereof, the Company shall distribute to
the Purchaser all amounts remaining in the Collateral Fund
together with any investment earnings thereon (after giving
effect to all withdrawals therefrom permitted under this
Agreement).
The Purchaser shall not take or direct the Company or the
Trustee to take any action contrary to any provision of the
Pooling and Servicing Agreement. In no event shall the Purchaser
(i) take or cause the Trustee or the Company to take any action
that could cause any REMIC established under the Pooling and
Servicing Agreement to fail to qualify as a REMIC or cause the
imposition on any such REMIC of any "prohibited transaction" or
"prohibited contribution" taxes or (ii) cause the Trustee or the
Company to fail to take any action necessary to maintain the
status of any such REMIC as a REMIC.
Section 3.02. Collateral Fund Permitted Investments. The
Company shall, at the written direction of the Purchaser, direct
the Trustee to invest the funds in the Collateral Fund in the
name of the Trustee in Collateral Fund Permitted Investments.
Such direction shall not be changed more frequently then
quarterly. In the absence of any direction, the Company shall
direct the Trustee select such investments in accordance with the
definition of Collateral Fund Permitted Investments in its
discretion.
All income and gain realized from any investment as well as
any interest earned on deposits in the Collateral Fund (net of
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any losses on such investments) and any payments of principal
made in respect of any Collateral Fund Permitted Investment shall
be deposited in the Collateral Fund upon receipt. All costs and
realized losses associated with the purchase and sale of
Collateral Fund Permitted Investments shall be borne by the
Purchaser and the amount of net realized losses shall be promptly
deposited by the Purchaser in the Collateral Fund. The Company
shall periodically (but not more frequently than monthly) direct
the Trustee to distribute to the Purchaser upon request an amount
of cash, to the extent cash is available therefor in the
Collateral Fund, equal to the amount by which the balance of the
Collateral Fund, after giving effect to all other distributions
to be made from the Collateral Fund on such date, exceeds the
Required Collateral Fund Balance. Any amounts so distributed
shall be released from the lien and security interest of this
Agreement.
Section 3.03. Grant of Security Interest. In order to
secure the obligations of the Purchaser hereunder to the Company
and the Trustee for the benefit of Certificateholders (other than
its obligations under Section 4.10), the Purchaser hereby grants
to the Company and to the Trustee for the benefit of the
Certificateholders a security interest in and lien on all of the
Purchaser's right, title and interest, whether now owned or
hereafter acquired, in and to: (1) the Collateral Fund, (2) all
amounts deposited in the Collateral Fund and Collateral Fund
Permitted Investments in which such amounts are invested (and the
distributions and proceeds of such investments) and (3) all cash
and non-cash proceeds of any of the foregoing, including proceeds
of the voluntary or involuntary conversion thereof (all of the
foregoing collectively, the "Collateral").
The Purchaser acknowledges the lien on and security
interest in the Collateral for the benefit of the Company and the
Trustee on behalf of the Certificateholders. The Purchaser shall
take all actions requested by the Company or the Trustee as may
be reasonably necessary to perfect the security interest created
under this Agreement in the Collateral and cause it to be prior
to all other security interests and liens, including the
execution and delivery to the Company or at its direction the
Trustee for filing of appropriate financing statements in
accordance with applicable law.
Section 3.04. Collateral Shortfalls. In the event that
amounts on deposit in the Collateral Fund at any time are
insufficient to cover any withdrawals therefrom that the Company
or the Trustee is then entitled to make hereunder, the Purchaser
shall be obligated to pay such amounts to the Company or the
Trustee immediately upon demand. Such obligation shall
constitute a general corporate obligation of the Purchaser. The
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failure to pay such amounts within two Business Days of such
demand (except for amounts to cover interest on a Mortgage Loan
pursuant to Sections 2.02(d) and 2.03(b)), shall cause an
immediate termination of the Purchaser's right to make any
Election to Delay Foreclosure or Election to Foreclose and the
Company's obligations under this Agreement with respect to all
Mortgage Loans to which such insufficiencies relate, without the
necessity of any further notice or demand on the part of the
Company.
ARTICLE IV
MISCELLANEOUS PROVISIONS
Section 4.01. Amendment. This Agreement may be amended from
time to time by the Company and the Purchaser by written
agreement signed by the Company and the Purchaser provided that
no such amendment shall have a material adverse effect on the
holders of other Classes of Certificates.
Section 4.02. Counterparts. This Agreement may be executed
simultaneously in any number of counterparts, each of which
counterparts shall be deemed to be an original, and such
counterparts shall constitute but one and the same instrument.
Section 4.03. Governing Law. This Agreement shall be
construed in accordance with the laws of the State of New York
and the obligations, rights and remedies of the parties hereunder
shall be determined in accordance with such laws.
Section 4.04. Notices. All demands, notices and direction
hereunder shall be in writing or by telecopy and shall be deemed
effective upon receipt to:
(a) in the case of the Company, with respect to notices
pursuant to Sections 2.02 and 2.03 hereto,
GE Capital Mortgage Services, Inc.
2000 West Loop South
Suite 1917
Houston, Texas 77027
Attention: Mark Pendergrass
Telephone: (713) 964-4207
Facsimile: (713) 964-4100
with respect to all other notices pursuant to this Agreement,
GE Capital Mortgage Services, Inc.
Three Executive Campus
Cherry Hill, New Jersey 08002
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Attention: General Counsel
Telephone: (609) 661-6515
Facsimile: (609) 661-6875
or such other address as may hereafter be furnished in writing by
the Company, or
(b) in the case of the Purchaser, with respect to notices
pursuant to Section 2.01,
________________________________
________________________________
________________________________
Attention:______________________
Telephone:______________________
Facsimile:______________________
with respect to all other notices pursuant to this
Agreement,
________________________________
________________________________
________________________________
Attention:______________________
Telephone:______________________
Facsimile:______________________
or such other address as may hereafter be furnished in writing by
the Purchaser, or
(c) in the case of the Trustee,
State Street Bank and Trust Company
Corporate Trust Department
Two International Place, Fifth Floor
Boston, Massachusetts 02110
Attention: Karen Beard
Telephone: (617) 664-5465
Facsimile: (617) 664-5367
Section 4.05. Severability of Provisions. If any one or
more of the covenants, agreements, provisions or terms of this
Agreement shall be for any reason whatsoever, including
regulatory, held invalid, then such covenants, agreements,
provisions or terms shall be deemed severable from the remaining
covenants, agreements, provisions or terms of this Agreement and
shall in no way affect the validity or enforceability of the
other provisions of this Agreement.
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Section 4.06. Successor and Assigns. The provisions of this
Agreement shall be binding upon and inure to the benefit of the
parties hereto and the respective successors and assigns of the
parties hereto; provided, however, that the rights under this
Agreement cannot be assigned by the Purchaser without the consent
of the Company.
Section 4.07. Article and Section Headings. The article
and section headings herein are for convenience of reference only
and shall not limit or otherwise affect the meaning hereof.
Section 4.08. Third Party Beneficiaries. The Trustee on
behalf of Certificateholders is the intended third party
beneficiary of this Agreement.
Section 4.09. Confidentiality. The Purchaser agrees that
all information supplied by or on behalf of the Company pursuant
to Section 2.01 or 2.02, including individual account
information, is the property of the Company and the Purchaser
agrees to use such information solely for the purposes set forth
in this Agreement and to hold such information confidential and
not to disclose such information.
Section 4.10. Indemnification. The Purchaser agrees to
indemnify and hold harmless the Company against any and all
losses, claims, damages or liabilities to which it may be
subject, insofar as such losses, claims, damages or liabilities
(or actions in respect thereof) arise out of or are based upon
actions taken by the Company in accordance with the provisions of
this Agreement and which actions conflict or are alleged to
conflict with the Company's obligations under the Pooling and
Servicing Agreement. The Purchaser hereby agrees to reimburse the
Company on demand for the reasonable legal or other expenses
incurred by it in connection with investigating or defending any
such loss, claim, damage, liability or action.
[Section 4.11. Delayed Effectiveness. The Purchaser agrees
that, notwithstanding any other provision of this Agreement, the
Purchaser shall have no rights hereunder, and the Company shall
have no obligations hereunder, until the Class Certificate
Principal Balance of the Class B5 Certificates has been reduced
to zero and any Special Servicing and Collateral Fund Agreement
between the Company and the Purchaser relating to such Class B5
Certificates has been terminated.]
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IN WITNESS WHEREOF, the Company and the Purchaser have
caused their names to be signed hereto by their respective
officers thereunto duly authorized, all as of the day and year
first above written.
GE CAPITAL MORTGAGE SERVICES, INC.
By:______________________________
Name:
Title:
[PURCHASER]
By:______________________________
Name:
Title:
Acknowledged and agreed to:
STATE STREET BANK AND TRUST COMPANY
By:______________________________
Name:
Title:
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EXHIBIT L
FORM OF LOST NOTE AFFIDAVIT AND AGREEMENT
State of New Jersey )
) ss.
County of Camden )
GE Capital Mortgage Services, Inc. (the "Company") by
its undersigned authorized representative, being duly sworn,
hereby certifies as follows:
1. Pursuant to a Pooling and Servicing Agreement dated
as of ________ 1, 199_ (the "Agreement"), between the Company, as
seller, and State Street Bank and Trust Company, as trustee
(together with its successors, the "Trustee"), relating to the
Company's REMIC Multi-Class Pass-Through Certificates, Series
199_-__, the Company has assigned all of its right, title and
interest in the mortgage loan(s) described below (the "Designated
Loan(s)") to the Trustee.
(a) Loan Number: ______________________
Maker:_____________________________
Original Principal
Amount:____________________________
Maturity Date:_____________________
[(b) Loan Number:_______________________
Maker:_____________________________
Original Principal
Amount:____________________________
Maturity Date:_____________________
2. The Company has provided to the Trustee certain
representations and warranties in Section 2.03 of the Agreement
as to the ownership, assignment and enforceability of the
Designated Loan(s) and the related promissory notes or other
instruments evidencing the Designated Loan(s).
3. [The Designated Loan] [Each of the Designated
Loans] is evidenced by a promissory note, executed by its
[respective] maker as indicated above (the "Mortgage Notes(s)").
4. The Company is the current holder of the
indebtedness evidenced by the Mortgage Note(s), the indebtedness
evidenced by the Mortgage Note(s) has not been pledged or
<PAGE>
otherwise hypothecated, and the Company has not granted to any
person (other than the Trustee pursuant to the Agreement) any
interest in the indebtedness evidenced by the Mortgage Note(s).
5. After diligent search, the Company has been unable
to locate the Mortgage Note(s) and believes [it] [them] to be
lost. [A true and correct photocopy] [[True and correct
photocopies] of the Mortgage Note(s) [is] [are] attached hereto
as Exhibit A.]
6. If at any time the Company locates [any of] the
Mortgage Note(s), it shall endorse such Mortgage Note(s) for
transfer to the Trustee, without recourse, and shall promptly
deliver the Mortgage Note(s), as endorsed, to the Trustee.
7. In the event that the unavailability of any
Mortgage Note to the Trustee results in a breach of any
representations or warranties of the Company set forth in the
Agreement, the Trustee shall have the rights and remedies (if
any) set forth in the Agreement, subject to the provisions
thereof. In addition, the Company covenants and agrees to
indemnify the Trustee and the Trust Fund from and hold them
harmless against any and all losses, liabilities, damages, claims
or expenses (other than those resulting from negligence or bad
faith of the Trustee) arising from the Company's failure to have
delivered any Mortgage Note to the Trustee, including without
limitation any thereof arising from any action to enforce the
indebtedness evidenced by such Mortgage Note or any claim by any
third party who is the holder of such indebtedness by virtue of
possession of such Mortgage Note.
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This affidavit is given in connection with the
Company's execution of the Agreement. The Trustee's rights and
remedies set forth herein and in the Agreement shall constitute
the sole and exclusive remedies of the Trustee or its successors
and assigns arising out of or relating to the absence or loss of
the Mortgage Note(s) or the Company's failure to deliver the
same.
GE CAPITAL MORTGAGE SERVICES, INC.
By:________________________________
Name:
Title:
Sworn to before me this
____ day of ________, 199_
______________________________
Notary Public
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