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) March 25, 1998
GE CAPITAL MORTGAGE SERVICES, INC.
(as Seller and Servicer under Pooling and
Servicing Agreements each providing for the
issuance of a Series of Mortgage Pass-Through Certificates)
GE Capital Mortgage Services, Inc.
----------------------------------
(formerly known as Travelers Mortgage Services, Inc.)
(Exact name of registrant as specified in its charter)
New Jersey 33-5042 21-0627285
---------- ------- ----------
(State or Other (Commission (I.R.S. Employer
Jurisdiction of File Number) Identification No.)
Incorporation)
Three Executive Campus
Cherry Hill, New Jersey 08002
----------------------- -----
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including
area code (609) 661-6100
<PAGE>
Item 5. Other Events
- ------- ------------
On March 25, 1998 GE Capital Mortgage Services, Inc. ("GECMSI") passed
through to Certificateholders of Mortgage Pass-Through Certificates principal
and interest payments as required for the various Series of Mortgage
Pass-Through Certificates listed below and as detailed in Item 7, Financial
Statements, Pro Forma Financial Information and Exhibits, of this Report.
Series Distribution on Series
------ ----------------------
Series 1997-01 $ 17,036,146.75
Series 1997-02 $ 24,337,215.68
Series 1997-03 $ 20,283,267.25
Series 1997-HE-1 $ 5,618,589.99
Series 1997-04 $ 15,272,421.29
Series 1997-05 $ 14,425,107.89
Series 1997-06 $ 20,847,614.49
Series 1997-HE-2 $ 7,769,379.51
Series 1997-07 $ 15,760,164.14
Series 1997-08 $ 16,460,029.53
Series 1997-10 $ 5,195,782.07
Series 1997-HE-3 $ 5,559,957.87
Series 1997-09 $ 28,233,070.67
Series 1997-11 $ 14,985,925.09
Series 1997-12 $ 21,186,533.08
Series 1997-13 $ 184,253,413.03
Series 1997-HE-4 $ 2,924,508.95
Series 1998-01 $ 6,121,725.68
Series 1998-02 $ 14,680,813.56
Series 1998-03 $ 4,416,765.45
Series 1998-04 $ 12,888,698.50
Item 7. Financial Statements and Exhibits
- ------- ---------------------------------
Attached as Exhibits to Item 7 are the "Servicer's Certificate" and the
"Distribution Date Statement" or "Monthly Statement" filed as part of this
Report.
Series Exhibit No. Description
------ ----------- -----------
Series 1997-01 99.1 Servicer's Certificate
99.2 Distribution Date Statement
Series 1997-02 99.3 Servicer's Certificate
99.4 Distribution Date Statement
Series 1997-03 99.5 Servicer's Certificate
99.6 Distribution Date Statement
Series 1997-HE-1 99.7 Servicer's Certificate
99.8 Distribution Date Statement
Series 1997-04 99.9 Servicer's Certificate
99.10 Distribution Date Statement
<PAGE>
Series 1997-05 99.11 Servicer's Certificate
99.12 Distribution Date Statement
Series 1997-06 99.13 Servicer's Certificate
99.14 Distribution Date Statement
Series 1997-HE-2 99.15 Servicer's Certificate
99.16 Distribution Date Statement
Series 1997-07 99.17 Servicer's Certificate
99.18 Distribution Date Statement
Series 1997-08 99.19 Servicer's Certificate
99.20 Distribution Date Statement
Series 1997-10 99.21 Servicer's Certificate
99.22 Distribution Date Statement
Series 1997-HE-3 99.23 Servicer's Certificate
99.24 Distribution Date Statement
Series 1997-9 99.25 Servicer's Certificate
99.26 Distribution Date Statement
Series 1997-11 99.27 Servicer's Certificate
99.28 Distribution Date Statement
Series 1997-12 99.29 Servicer's Certificate
99.30 Distribution Date Statement
Series 1997-13 99.31 Servicer's Certificate
99.32 Distribution Date Statement
Series 1997-HE-4 99.33 Servicer's Certificate
99.34 Distribution Date Statement
Series 1998-01 99.35 Servicer's Certificate
99.36 Monthly Statement
Series 1998-02 99.37 Servicer's Certificate
99.38 Monthly Statement
Series 1998-03 99.39 Servicer's Certificate
99.40 Monthly Statement
Series 1998-04 99.41 Servicer's Certificate
99.42 Monthly Statement
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
------------------------------------------
Name: Karen Pickett
Title: Vice President, Investor Reporting
Dated as of: March 30, 1998
<PAGE>
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
- ----------- -----------
99.1 Series 1997-01 Servicer's Certificate
99.2 Series 1997-01 Distribution Date Statement
99.3 Series 1997-02 Servicer's Certificate
99.4 Series 1997-02 Distribution Date Statement
99.5 Series 1997-03 Servicer's Certificate
99.6 Series 1997-03 Distribution Date Statement
99.7 Series 1997-HE-1 Servicer's Certificate
99.8 Series 1997-HE-1 Distribution Date Statement
99.9 Series 1997-04 Servicer's Certificate
99.10 Series 1997-04 Distribution Date Statement
99.11 Series 1997-05 Servicer's Certificate
99.12 Series 1997-05 Distribution Date Statement
99.13 Series 1997-06 Servicer's Certificate
99.14 Series 1997-06 Distribution Date Statement
99.15 Series 1997-HE-2 Servicer's Certificate
99.16 Series 1997-HE-2 Distribution Date Statement
99.17 Series 1997-07 Servicer's Certificate
99.18 Series 1997-07 Distribution Date Statement
99.19 Series 1997-08 Servicer's Certificate
99.20 Series 1997-08 Distribution Date Statement
99.21 Series 1997-10 Servicer's Certificate
99.22 Series 1997-10 Distribution Date Statement
99.23 Series 1997-HE-3 Servicer's Certificate
99.24 Series 1997-HE-3 Distribution Date Statement
99.25 Series 1997-09 Servicer's Certificate
99.26 Series 1997-09 Distribution Date Statement
99.27 Series 1997-11 Servicer's Certificate
99.28 Series 1997-11 Distribution Date Statement
99.29 Series 1997-12 Servicer's Certificate
99.30 Series 1997-12 Distribution Date Statement
99.31 Series 1997-13 Servicer's Certificate
99.32 Series 1997-13 Distribution Date Statement
99.33 Series 1997-HE-4 Servicer's Certificate
99.34 Series 1997-HE-4 Distribution Date Statement
99.35 Series 1998-01 Servicer's Certificate
99.36 Series 1998-01 Monthly Statement
99.37 Series 1998-02 Servicer's Certificate
99.38 Series 1998-02 Monthly Statement
99.39 Series 1998-03 Servicer's Certificate
99.40 Series 1998-03 Monthly Statement
99.41 Series 1998-04 Servicer's Certificate
99.42 Series 1998-04 Monthly Statement
Exhibit 99.1
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
March 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-1
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
(a) Principal ...................................$ 178,122.18
(b) Interest ....................................$ 1,569,282.29
(c) Total .......................................$ 1,747,404.47
$
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ...................................$ 178,122.18
(b) Interest ....................................$ 1,536,000.50
(c) Total .......................................$ 1,714,122.68
3. Aggregate Principal Prepayments in part received and applied in prior
month: ............................................$ 121,459.77
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ...................................$ 15,115,643.25
(b) Interest ....................................$ 84,921.05
(c) Total .......................................$ 15,200,564.30
5. Aggregate Insurance Proceeds for prior month:
(a) Principal ...................................$ 0.00
(b) Interest ....................................$ 0.00
(c) Total .......................................$ 0.00
<PAGE>
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal ...................................$ 0.00
(b) Interest ....................................$ 0.00
(c) Total .......................................$ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage Loans:
(a) Principal ...................................$ 0.00
(b) Interest ....................................$ 0.00
(c) Total .......................................$ 0.00
8. Aggregate Purchase Prices ( and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal ...................................$ 0.00
(b) Interest ....................................$ 0.00
(c) Total .......................................$ 0.00
9. Pool Scheduled Principal Balance: .................$ 232,397,987.90
10. Available Funds: .................................$ 17,036,146.75
11. Realized Losses for prior month: ..................$ 0.00
12. Aggregate Realized Losses:
(a) Deficient Valuations: .........................$ 0.00
(b) Special Hazard Losses: ........................$ 0.00
(c) Fraud Losses: .................................$ 0.00
(d) Excess Bankruptcy Losses: .....................$ 0.00
(e) Excess Special Hazard Losses: .................$ 0.00
(f) Excess Fraud Losses: ..........................$ 0.00
(g) Debt Service Reductions: ......................$ 0.00
13. Compensating Interest Payment: ....................$ 17,012.41
14. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 1-A1.......$ 0.00 $ 0.00 7.35000000%
Class 1-A2.......$ 110,179.33 $ 0.00 7.35000000%
Class 1-A3.......$ 317,540.06 $ 0.00 7.35000000%
Class 1-A4.......$ 384,640.24 $ 0.00 7.35000000%
Class 1-A5.......$ 53,996.32 $ 0.00 6.18749952%
Class 1-A6.......$ 14,391.09 $ 0.00 6.18749839%
Class 1-A7 ......$ 31,085.19 $ 0.00 2.81250000%
Class 1-A8.......$ 157,156.25 $ 0.00 7.50000000%
Class 1-A9.......$ 145,000.00 $ 0.00 7.25000000%
<PAGE>
Class 1-A10......$ 1,600.00 $ 0.00 0.08000000%
Class 1-A11......$ 3,400.00 $ 0.00 0.17000000%
Class 1-A12......$ 21,750.00 $ 0.00 7.50000000%
Class 1-A13......$ 0.00 $ 0.00 7.50000000%
Class 1-A14......$ 193,750.00 $ 0.00 7.50000000%
Class 1-A15......$ 15,625.00 $ 0.00 7.50000000%
Class 1-M........$ 27,876.36 $ 0.00 7.50000000%
Class 1-B1.......$ 23,231.33 $ 0.00 7.50000000%
Class 1-B2.......$ 20,438.12 $ 0.00 7.50000000%
Class 1-B3.......$ 8,367.24 $ 0.00 7.50000000%
Class 1-B4.......$ 5,574.03 $ 0.00 7.50000000%
Class 1-B5.......$ 7,435.76 $ 0.00 7.50000000%
Class 1-S........$ 75,850.78 $ 0.00 0.40958600%
Class 1-RL.......$ 0.63 $ 0.00 7.50000000%
Class 1-R........$ 0.63 $ 0.00 7.50000000%
15. Accrual Amount:
Class 1-A13A........ $ 0.00
Class 1-A13B........ $ 2,033.19
16. Principal distributable:
Class 1-A1.....$ 0.00
Class 1-A2.....$ 2,314,863.60
Class 1-A3.....$ 8,207,243.66
Class 1-A4.....$ 3,474,624.50
Class 1-A5.....$ 1,399,673.18
Class 1-A6.....$ 0.00
Class 1-A7.....$ 0.00
Class 1-A8.....$ 0.00
Class 1-A9.....$ 0.00
Class 1-A10....$ 0.00
Class 1-A11....$ 0.00
Class 1-A12....$ 0.00
Class 1-A13....$ 0.00
Class 1-A14....$ 0.00
Class 1-A15....$ 0.00
Class 1-PO.....$ 10,171.82
Class 1-M......$ 3,204.43
Class 1-B1.....$ 2,670.48
Class 1-B2.....$ 2,349.39
Class 1-B3.....$ 961.83
Class 1-B4.....$ 640.74
Class 1-B5.....$ 854.76
Class 1-R......$ 0.00
Class 1-RL.....$ 0.00
17. Additional distributions to the Class 1-R Certificate pursuant to
Section 4.01(b):................................$ 0.00
<PAGE>
18. Additional distributions to the Class 1-RL Certificate pursuant to
Section 4.01(b):................................$ 0.00
19. Certificate Interest Rates of:
Class 1-S Certificates:..... 0.367300%
20. Draw Amount:
Class A9.................... $ 0.00
Class A10................... $ 0.00
21. Distributions of amounts in Reserve Fund to Senior Certificates (other
than the Class PO Certificates) and the Class S Certificates pursuant
to the second paragraph of Section 4.01(g):
Class A1 $ 0.00
Class A2 $ 0.00
Class A3 $ 0.00
Class A4 $ 0.00
Class A5 $ 0.00
Class A6 $ 0.00
Class A7 $ 0.00
Class A8 $ 0.00
Class A9 $ 0.00
Class A10 $ 0.00
Class A11 $ 0.00
Class A12 $ 0.00
Class A13 $ 0.00
Class A14 $ 0.00
Class A15 $ 0.00
Class R $ 0.00
Class RL $ 0.00
Class S $ 0.00
B. Other Amounts:
1. Senior Percentage for such Distribution Date:............. 93.985846%
2. Group I Senior Percentage for such Distribution Date: .... 93.985846%
3. Group II Senior Percentage for such Distribution Date: ... 0.000000%
4. Senior Prepayment Percentage for such Distribution Date: . 100.000000%
5. Group I Senior Prepayment Percentage for such
Distribution Date: ....................................... 100.000000%
6. Group II Senior Prepayment Percentage for such
Distribution Date: ....................................... 0.000000%
7. Junior Percentage for such Distribution Date: ............ 6.014154%
8. Junior Prepayment Percentage for such Distribution Date: . 0.000000%
9. Subordinate Certificate Writedown Amount for such
Distribution Date: .......................................$ 0.00
<PAGE>
10. Prepayment Distribution Triggers satisfied:
YES NO
--- --
Class 1-B1....... X
Class 1-B2....... X
Class 1-B3....... X
Class 1-B4....... X
Class 1-B5....... X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
--------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.2
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
March 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-1
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
The amounts below (other than for Class R) are for a Single Certificate of
$1,000:
1. The amount of such distribution allocable to principal:
Class 1-A1.....$ 0.00000000 Class 1-A13....$ 0.00000000
Class 1-A2.....$ 107.43322040 Class 1-A14....$ 0.00000000
Class 1-A3.....$ 137.00660490 Class 1-A15....$ 0.00000000
Class 1-A4.....$ 43.64228924 Class 1-PO.....$ 16.47658541
Class 1-A5.....$ 95.31961182 Class 1-M......$ 0.71193735
Class 1-A6.....$ 0.00000000 Class 1-B1.....$ 0.71193815
Class 1-A7.....$ 0.00000000 Class 1-B2.....$ 0.71193636
Class 1-A8.....$ 0.00000000 Class 1-B3.....$ 0.71193930
Class 1-A9.....$ 0.00000000 Class 1-B4.....$ 0.71193333
Class 1-A10....$ 0.00000000 Class 1-B5.....$ 0.71193545
Class 1-A11....$ 0.00000000 Class 1-R......$ 0.00000000
Class 1-A12....$ 0.00000000 Class 1-RL.....$ 0.00000000
2. Principal Prepayments included in the above principal distribution
(including the Scheduled Principal Balances of all Defaulted Mortgage
Loans and Defective Mortgage Loans purchased pursuant to Section 2.02,
2.03 (b) or 3.16, respectively, and any amounts deposited pursuant to
Section 2.03(b) in connection with the substitution of any Mortgage
Loans pursuant to Section 2.02 or 2.03(a), the proceeds of which are
being distributed on such Distribution Date):
Class 1-A1.....$ 0.00000000 Class 1-A13....$ 0.00000000
Class 1-A2.....$ 106.26546899 Class 1-A14....$ 0.00000000
Class 1-A3.....$ 135.51740393 Class 1-A15....$ 0.00000000
Class 1-A4.....$ 43.16791693 Class 1-PO.....$ 16.29749224
Class 1-A5.....$ 94.28352996 Class 1-M......$ 0.00000000
Class 1-A6.....$ 0.00000000 Class 1-B1.....$ 0.00000000
Class 1-A7.....$ 0.00000000 Class 1-B2.....$ 0.00000000
Class 1-A8.....$ 0.00000000 Class 1-B3.....$ 0.00000000
<PAGE>
Class 1-A9.....$ 0.00000000 Class 1-B4.....$ 0.00000000
Class 1-A10....$ 0.00000000 Class 1-B5.....$ 0.00000000
Class 1-A11....$ 0.00000000 Class 1-R......$ 0.00000000
Class 1-A12....$ 0.00000000 Class 1-RL.....$ 0.00000000
3. The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 1-A1.....$ 0.00000000 Class 1-A13....$ 0.00000000
Class 1-A2.....$ 5.11344178 Class 1-A14....$ 6.25000000
Class 1-A3.....$ 5.30081564 Class 1-A15....$ 6.25000000
Class 1-A4.....$ 4.83119273 Class 1-M......$ 6.19337036
Class 1-A5.....$ 3.67722147 Class 1-B1.....$ 6.19336977
Class 1-A6.....$ 5.15624866 Class 1-B2.....$ 6.19336970
Class 1-A7.....$ 1.77883777 Class 1-B3.....$ 6.19336788
Class 1-A8.....$ 6.25000000 Class 1-B4.....$ 6.19336667
Class 1-A9.....$ 6.04166667 Class 1-B5.....$ 6.19329539
Class 1-A10....$ 0.06666667 Class 1-R......$ 6.30000000
Class 1-A11....$ 0.14166667 Class 1-RL.....$ 6.30000000
Class 1-A12....$ 6.25000000 Class 1-S......$ 0.25277766
4. Accrual Amount:
Class A13A $ 0.00
Class A13B $ 2,033.19
5. The amount of servicing compensation received by the Company during
the month preceding the month of distribution:.......$ 53,663.73
The amounts below are for the aggregate of all Certificates.
6. The Pool Scheduled Principal Balances of each Mortgage Pool on the
preceding Due Date after giving effect to all distributions allocable
to principal made on such Distribution Date:.........$ 232,397,987.90
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:................... 827
<PAGE>
7. The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to (i) all distributions allocable to principal
made on such Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date:
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 1-A1....................$ 0.00 $ 0.00
Class 1-A2....................$ 15,673,598.78 $ 727.41
Class 1-A3....................$ 43,636,032.01 $ 728.43
Class 1-A4....................$ 59,323,781.50 $ 745.12
Class 1-A5....................$ 9,072,341.21 $ 617.84
Class 1-A6....................$ 2,791,000.00 $ 1,000.00
Class 1-A7....................$ 11,863,341.21 $ 678.88
Class 1-A8....................$ 25,145,000.00 $ 1,000.00
Class 1-A9....................$ 24,000,000.00 $ 1,000.00
Class 1-A10...................$ 24,000,000.00 $ 1,000.00
Class 1-A11...................$ 24,000,000.00 $ 1,000.00
Class 1-A12...................$ 3,480,000.00 $ 1,000.00
Class 1-A13...................$ 327,343.57 $ 53.68
Class 1-A14...................$ 31,000,000.00 $ 1,000.00
Class 1-A15...................$ 2,500,000.00 $ 1,000.00
Class 1-PO....................$ 591,701.52 $ 958.45
Class 1-M.....................$ 4,457,013.24 $ 990.23
Class 1-B1....................$ 3,714,342.73 $ 990.23
Class 1-B2....................$ 3,267,750.21 $ 990.23
Class 1-B3....................$ 1,337,797.13 $ 990.23
Class 1-B4....................$ 891,204.60 $ 990.23
Class 1-B5....................$ 1,188,881.40 $ 990.23
Class 1-R.....................$ 100.00 $ 1,000.00
Class 1-RL....................$ 100.00 $ 1,000.00
Class 1-S.....................$ 207,361,155.33 $ 757.85
8. The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in lieu of
foreclosure or otherwise, of any REO Mortgage Loan:
book value........................................$ 0.00
unpaid principal balance..........................$ 0.00
number of related mortgage loans.................. 0
<PAGE>
9. The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the month
preceding the related Determination Date, were:
(a) delinquent
(1) 30-59 days
Number 12 Principal Balance $ 3,041,647.44
(2) 60-89 days
Number 0 Principal Balance $ 0.00
(3) 90 days or more
Number 1 Principal Balance $ 300,975.81
(b) in foreclosure
Number 4 Principal Balance $ 1,395,948.09
10. The Scheduled Principal Balance of any Mortgage Loan replaced pursuant
to Section 2.03(b), and of any Modified Mortgage Loan purchased
pursuant to Section 3.01(c): .............. $ 0.00
11. The Certificate Interest Rates, applicable to the Interest Accrual
Period relating to such Distribution Date:
Class 1-S: ........................ 0.367300%
1. Senior Percentage for such Distribution Date: ....... 93.98584600%
2. Group I Senior Percentage for such Distribution Date: 93.98584600%
3. Group II Senior Percentage for such Distribution Date: 0.00000000%
4. Senior Prepayment Percentage for such Distribution
Date:................................................100.00000000%
5. Group I Senior Prepayment Percentage for such
Distribution Date: ..................................100.00000000%
6. Group II Senior Prepayment Percentage for such
Distribution Date: .................................. 0.00000000%
7. Junior Percentage for such Distribution Date: ....... 6.01415400%
8. Junior Prepayment Percentage for such Distribution
Date:................................................ 0.00000000%
Exhibit 99.3
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
March 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-2
Pursuant to the Pooling and Servicing Agreement dated as of February 1,
1997 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company") and State Street Bank and Trust Company (the "Trustee"), governing
the Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
Pool 1 Pool 2
------ ------
(a) Principal ...............$ 286,832.28 $ 249,067.52
(b) Interest ................$ 2,433,700.04 $ 447,006.85
(c) Total ...................$ 2,720,532.32 $ 696,074.37
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ...............$ 286,832.28 $ 249,067.52
(b) Interest ................$ 2,377,738.43 $ 436,434.87
(c) Total ...................$ 2,664,570.71 $ 685,502.39
3. Aggregate Principal Prepayments in part received and applied in the
applicable Prepayment Period:..$ 309,231.66 $ 34,799.94
4. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal ...............$ 16,318,636.01 $ 4,212,410.34
(b) Interest ................$ 89,986.84 $ 22,077.79
(c) Total ...................$ 16,408,622.85 $ 4,234,488.13
<PAGE>
5. Aggregate Insurance Proceeds (including purchases of Mortgage Loans by
primary mortgage insurers) for prior month:
Pool 1 Pool 2
------ ------
(a) Principal ..................$ 0.00 $ 0.00
(b) Interest ...................$ 0.00 $ 0.00
(c) Total ......................$ 0.00 $ 0.00
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal ..................$ 0.00 $ 0.00
(b) Interest ...................$ 0.00 $ 0.00
(c) Total ......................$ 0.00 $ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage Loans:
(a) Principal ..................$ 0.00 $ 0.00
(b) Interest ...................$ 0.00 $ 0.00
(c) Total ......................$ 0.00 $ 0.00
8. Aggregate Purchase Prices (and subsitution adjustments) for Defective
Mortgage Loans:
(a) Principal ..................$ 0.00 $ 0.00
(b) Interest ...................$ 0.00 $ 0.00
(c) Total ......................$ 0.00 $ 0.00
9. Pool Scheduled Principal Balance:.$365,288,986.00 $ 69,655,975.68
10. Available Funds: ................$ 19,382,425.22 $ 4,954,790.46
11. Realized Losses for Prior Month: $ 0.00 $ 0.00
12. Aggregrate Realized Losses and Debt Service Reductions:
(a) Deficient Valuations ........$ 0.00 $ 0.00
(b) Special Hazard Losses .......$ 0.00 $ 0.00
(c) Fraud Losses ................$ 0.00 $ 0.00
(d) Excess Bankruptcy Losses ....$ 0.00 $ 0.00
(e) Excess Special Hazard Losses..$ 0.00 $ 0.00
(f) Excess Fraud Losses .........$ 0.00 $ 0.00
(g) Debt Service Reductions.......$ 0.00 $ 0.00
<PAGE>
13. Compensating Interest Payment: ..$ 19,208.75 $ 4,198.82
14. Accrued Certificate Interest, unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 1-A1......$ 278,136.18 $ 0.00 6.50000000%
Class 1-A2......$ 369,154.15 $ 0.00 6.75000000%
Class 1-A3......$ 32,593.78 $ 0.00 7.50000000%
Class 1-A4......$ 283,458.33 $ 0.00 7.00000000%
Class 1-A5......$ 108,613.03 $ 0.00 7.50000000%
Class 1-A6......$ 79,508.13 $ 0.00 7.50000000%
Class 1-A7......$ 286,463.00 $ 0.00 7.50000000%
Class 1-A8......$ 0.00 $ 0.00 6.93750000%
Class 1-A9......$ 0.00 $ 0.00 10.31250000%
Class 1-A10.....$ 0.00 $ 0.00 7.50000000%
Class 1-A11.....$ 119,863.20 $ 0.00 7.50000000%
Class 1-A12.....$ 36,793.61 $ 0.00 7.50000000%
Class 1-A13.....$ 11,315.00 $ 0.00 7.75000000%
Class 1-A14.....$ 1,460.00 $ 0.00 6.00000000%
Class 1-A15.....$ 0.00 $ 0.00 7.50000000%
Class 1-A16.....$ 260,085.02 $ 0.00 7.50000000%
Class 1-A17.....$ 18,577.50 $ 0.00 7.50000000%
Class 1-S.......$ 85,297.77 $ 0.00 0.30672600%
Class 1-M.......$ 55,775.85 $ 0.00 7.50000000%
Class 1-B1......$ 27,884.83 $ 0.00 7.50000000%
Class 1-B2......$ 27,884.83 $ 0.00 7.50000000%
Class 1-B3......$ 13,945.46 $ 0.00 7.50000000%
Class 1-B4......$ 4,186.08 $ 0.00 7.50000000%
Class 1-B5......$ 9,763.72 $ 0.00 7.50000000%
Class 1-R.......$ 0.00 $ 0.00 7.50000000%
Class 1-RL......$ 0.00 $ 0.00 7.50000000%
Class 2-A1......$ 63,017.74 $ 0.00 7.00000000%
Class 2-A2......$ 71,299.58 $ 0.00 6.50000000%
Class 2-A3......$ 69,501.25 $ 0.00 6.50000000%
Class 2-A4......$ 10,830.83 $ 0.00 7.00000000%
Class 2-A5......$ 131,770.24 $ 0.00 7.00000000%
Class 2-A6......$ 21,038.13 $ 0.00 7.00000000%
Class 2-A7......$ 50,493.32 $ 0.00 7.00000000%
Class 2-S.......$ 26,671.82 $ 0.00 0.46723300%
Class 2-M.......$ 5,050.82 $ 0.00 7.00000000%
Class 2-B1......$ 2,525.41 $ 0.00 7.00000000%
Class 2-B2......$ 2,525.41 $ 0.00 7.00000000%
Class 2-B3......$ 1,515.24 $ 0.00 7.00000000%
Class 2-B4......$ 1,010.16 $ 0.00 7.00000000%
Class 2-B5......$ 1,262.71 $ 0.00 7.00000000%
<PAGE>
15. Principal Distribution Amount:
Class 1-A1......$ 0.00 Class 2-A1....$ 467,595.88
Class 1-A2......$ 0.00 Class 2-A2....$ 0.00
Class 1-A3......$ 0.00 Class 2-A3....$ 0.00
Class 1-A4......$ 1,440,912.59 Class 2-A4....$ 0.00
Class 1-A5......$ 4,037,680.66 Class 2-A5....$ 384,559.00
Class 1-A6......$ 3,119,793.90 Class 2-A6....$ 3,606,537.39
Class 1-A7......$ 7,157,474.56 Class 2-A7....$ 29,070.76
Class 1-A8......$ 0.00 Class 2-PO....$ 517.98
Class 1-A9......$ 0.00 Class 2-M.....$ 2,907.93
Class 1-A10.....$ 0.00 Class 2-B1....$ 1,453.96
Class 1-A11.....$ 1,453,614.69 Class 2-B2....$ 1,453.96
Class 1-A12.....$ 0.00 Class 2-B3....$ 872.38
Class 1-A13.....$ 0.00 Class 2-B4....$ 581.59
Class 1-A14.....$ 0.00 Class 2-B5....$ 726.97
Class 1-A15.....$ 0.00
Class 1-A16.....$ 31,220.52
Class 1-A17.....$ 2,230.04
Class 1-PO......$ 12,000.31
Class 1-M.......$ 6,695.34
Class 1-B1......$ 3,347.30
Class 1-B2......$ 3,347.30
Class 1-B3......$ 1,674.02
Class 1-B4......$ 502.50
Class 1-B5......$ 1,172.03
Class 1-R.......$ 0.00
Class 1-RL......$ 0.00
16. Additional Distributions to the Class R Certificate pursuant to
Section 4.01 (c):........................ $ 0.00
17. Additional Distributions to the Class RL Certificate pursuant to
Section 2.05 (d):........................ $ 0.00
18. Certificate Interest Rate of:
Class 1-A8....................... 6.93750000%
Class 1-A9....................... 10.31250000%
Class 1-S........................ 0.30672600%
Class 2-S........................ 0.46723300%
B. Other Amounts for such Distribution Date:
Pool 1 Pool 2
------ ------
1. Senior Percentage: ....................... 94.14710000% 96.78360000%
2. Group I Senior Percentage: ............... 82.45053655% 85.09101800%
3. Group II Senior Percentage: .............. 11.69656345% 11.69258200%
<PAGE>
Pool 1 Pool 2
------ ------
4. Senior Prepayment Percentage: ............100.00000000% 100.00000000%
5. Group I Senior Prepayment Percentage: .....100.00000000% 100.00000000%
6. Group II Senior Prepayment Percent: ....... 0.00000000% 0.00000000%
7. Group I Scheduled Distribution Percent: ... 0.00000000% N/A
8. Group II Scheduled Distribution Percentage: 0.00000000% N/A
9. Junior Percentage: ....................... 5.85290000% 3.21640000%
10. Junior Prepayment Percentage: ............ 0.00000000% 0.00000000%
11. Subordinate Certificate Writedown: .......$ 0.00 $ 0.00
12. Prepayment Triggers satisfied:
YES NO
--- --
Class 1-B1...................... X
Class 1-B2...................... X
Class 1-B3...................... X
Class 1-B4...................... X
Class 1-B5...................... X
Class 2-B1...................... X
Class 2-B2...................... X
Class 2-B3...................... X
Class 2-B4...................... X
Class 2-B5...................... X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
---------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.4
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
REMIC Multi-Class Pass-Through Certificates
March 1998
Series 1997-2
Pursuant to the Pooling and Servicing Agreement dated as of February 1,
1997 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company") and State Street Bank and Trust Company (the "Trustee"), governing
the Certificates referred to above, the Company hereby certifies to the Trustee:
(a) The amounts below are for a Single Certificate of $1,000.
i) The amount of such distribution allocable to principal:
Class 1-A1.....$ 0.00000000 Class 2-A1.....$ 30.67409341
Class 1-A2.....$ 0.00000000 Class 2-A2.....$ 0.00000000
Class 1-A3.....$ 0.00000000 Class 2-A3.....$ 0.00000000
Class 1-A4.....$ 24.30892608 Class 2-A4.....$ 0.00000000
Class 1-A5.....$ 160.34594955 Class 2-A5.....$ 15.50703657
Class 1-A6.....$ 166.38525431 Class 2-A6.....$ 288.20497430
Class 1-A7.....$ 74.54345272 Class 2-A7.....$ 3.23008444
Class 1-A8.....$ 0.00000000 Class 2-PO.....$ 4.05365430
Class 1-A9.....$ 0.00000000 Class 2-M......$ 3.23008225
Class 1-A10....$ 0.00000000 Class 2-B1.....$ 3.23007473
Class 1-A11....$ 58.14458760 Class 2-B2.....$ 3.23007473
Class 1-A12....$ 0.00000000 Class 2-B3.....$ 3.23009194
Class 1-A13....$ 0.00000000 Class 2-B4.....$ 3.23010447
Class 1-A14....$ 0.00000000 Class 2-B5.....$ 3.22999758
Class 1-A15....$ 0.00000000
Class 1-A16....$ 0.74334571
Class 1-A17....$ 0.74334667
Class 1-PO.....$ 5.32873446
Class 1-M......$ 0.74334851
Class 1-B1.....$ 0.74334888
Class 1-B2.....$ 0.74334888
Class 1-B3.....$ 0.74334813
Class 1-B4.....$ 0.74334320
Class 1-B5.....$ 0.74335538
Class 1-R......$ 0.00000000
Class 1-RL.....$ 0.00000000
<PAGE>
Principal Prepayments included in the above principal distribution
(including amounts deposited pursuant to Section 3.17, Scheduled
Principal Balances of Defaulted Mortgage Loans, Designated Loans and
Defective Mortgage Loans which are being distributed on this
Distribution Date):
Class 1-A1.....$ 0.00000000 Class 2-A1....$ 29.02655265
Class 1-A2.....$ 0.00000000 Class 2-A2....$ 0.00000000
Class 1-A3.....$ 0.00000000 Class 2-A3....$ 0.00000000
Class 1-A4.....$ 23.92037684 Class 2-A4....$ 0.00000000
Class 1-A5.....$ 157.78301048 Class 2-A5....$ 14.67413584
Class 1-A6.....$ 163.72578415 Class 2-A6....$ 272.72515434
Class 1-A7.....$ 73.35196439 Class 2-A7....$ 3.05659290
Class 1-A8.....$ 0.00000000 Class 2-PO....$ 3.83592787
Class 1-A9.....$ 0.00000000 Class 2-B1....$ 0.00000000
Class 1-A10....$ 0.00000000 Class 2-B2....$ 0.00000000
Class 1-A11....$ 57.21521560 Class 2-B3....$ 0.00000000
Class 1-A12....$ 0.00000000 Class 2-B4....$ 0.00000000
Class 1-A13....$ 0.00000000 Class 2-B5....$ 0.00000000
Class 1-A14....$ 0.00000000
Class 1-A15....$ 0.00000000
Class 1-A16....$ 0.73146421
Class 1-A17....$ 0.73146516
Class 1-PO.....$ 5.24356098
Class 1-M......$ 0.00000000
Class 1-B1.....$ 0.00000000
Class 1-B2.....$ 0.00000000
Class 1-B3.....$ 0.00000000
Class 1-B4.....$ 0.00000000
Class 1-B5.....$ 0.00000000
Class 1-R......$ 0.00000000
Class 1-RL.....$ 0.00000000
ii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest; Pay-out Rate:
Class 1-A1....... $ 5.41666665 6.50000000%
Class 1-A2....... $ 5.62499995 6.75000000%
Class 1-A3....... $ 6.24999976 7.50000000%
Class 1-A4....... $ 4.78208577 7.00000000%
Class 1-A5....... $ 4.31328302 7.50000000%
Class 1-A6....... $ 4.24033794 7.50000000%
Class 1-A7....... $ 2.98344632 7.50000000%
Class 1-A8....... $ 0.00000000 6.93750000%
Class 1-A9....... $ 0.00000000 10.31250000%
Class 1-A10...... $ 0.00000000 7.50000000%
Class 1-A11...... $ 4.79452800 7.50000000%
Class 1-A12...... $ 6.25000064 7.50000000%
Class 1-A13...... $ 6.45833333 7.75000000%
Class 1-A14...... $ 5.00000000 6.00000000%
<PAGE>
Class 1-A15...... $ 0.00000000 7.50000000%
Class 1-A16...... $ 6.19250048 7.50000000%
Class 1-A17...... $ 6.19250000 7.50000000%
Class 1-S........ $ 0.18940182 0.30672600%
Class 1-M........ $ 6.19250028 7.50000000%
Class 1-B1....... $ 6.19250056 7.50000000%
Class 1-B2....... $ 6.19250056 7.50000000%
Class 1-B3....... $ 6.19247780 7.50000000%
Class 1-B4....... $ 6.19242604 7.50000000%
Class 1-B5....... $ 6.19260065 7.50000000%
Class 1-R........ $ 0.00000000 7.50000000%
Class 1-RL....... $ 0.00000000 7.50000000%
Class 2-A1....... $ 4.13393729 7.00000000%
Class 2-A2....... $ 5.41666641 6.50000000%
Class 2-A3....... $ 5.41666667 6.50000000%
Class 2-A4....... $ 5.83333244 7.00000000%
Class 2-A5....... $ 5.31353038 7.00000000%
Class 2-A6....... $ 1.68119530 7.00000000%
Class 2-A7....... $ 5.61036889 7.00000000%
Class 2-S........ $ 0.29584633 0.46723300%
Class 2-M........ $ 5.61037028 7.00000000%
Class 2-B1....... $ 5.61037651 7.00000000%
Class 2-B2....... $ 5.61037651 7.00000000%
Class 2-B3....... $ 5.61035845 7.00000000%
Class 2-B4....... $ 5.61034806 7.00000000%
Class 2-B5....... $ 5.61034189 7.00000000%
iii) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:
Pool 1 Pool 2
------ ------
$ 79,683.19 $ 15,816.82
(b) The amounts below are for the aggregate of all certificates.
iv) The Pool Scheduled Principal Balances:$365,288,986.00 $ 69,655,975.68
Number of Mortgage Loans: 1,273 238
v) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to all distributions allocable to principal made
on such Distribution Date and the allocation of Realized Losses
(separately identified), if any, as of such Distribution Date:
Aggregate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 1-A1........ $ 51,348,218.00 $ 1,000.00
Class 1-A2........ $ 65,627,405.00 $ 1,000.00
Class 1-A3........ $ 5,215,005.00 $ 1,000.00
Class 1-A4........ $ 47,151,943.78 $ 795.48
Class 1-A5........ $ 13,340,404.48 $ 529.78
Class 1-A6........ $ 9,601,507.48 $ 512.07
Class 1-A7........ $ 79,499,405.50 $ 827.97
<PAGE>
Class 1-A8........ $ 0.00 $ 0.00
Class 1-A9........ $ 0.00 $ 0.00
Class 1-A10....... $ 0.00 $ 0.00
Class 1-A11....... $ 17,724,496.54 $ 708.98
Class 1-A12....... $ 5,886,977.00 $ 1,000.00
Class 1-A13....... $ 1,752,000.00 $ 1,000.00
Class 1-A14....... $ 292,000.00 $ 1,000.00
Class 1-A15....... $ 0.00 $ 0.00
Class 1-A16....... $ 41,582,382.14 $ 990.06
Class 1-A17....... $ 2,970,170.15 $ 990.06
Class 1-PO........ $ 1,003,294.98 $ 957.75
Class 1-S......... $ 317,600,158.31 $ 1,906.37
Class 1-M......... $ 8,917,440.70 $ 990.06
Class 1-B1........ $ 4,458,225.33 $ 990.06
Class 1-B2........ $ 4,458,225.33 $ 990.06
Class 1-B3........ $ 2,229,607.69 $ 990.06
Class 1-B4........ $ 669,278.32 $ 990.06
Class 1-B5........ $ 1,560,998.58 $ 990.06
Class 1-R......... $ 0.00 $ 0.00
Class 1-RL........ $ 0.00 $ 0.00
Class 2-A1........ $ 10,335,445.06 $ 678.00
Class 2-A2........ $ 13,163,000.00 $ 1,000.00
Class 2-A3........ $ 12,831,000.00 $ 1,000.00
Class 2-A4........ $ 1,856,714.00 $ 1,000.00
Class 2-A5........ $ 22,204,625.42 $ 895.38
Class 2-A6........ $ 0.00 $ 0.00
Class 2-A7........ $ 8,626,926.82 $ 958.55
Class 2-S......... $ 64,029,267.98 $ 759.86
Class 2-PO........ $ 121,874.07 $ 953.77
Class 2-M......... $ 862,946.82 $ 958.55
Class 2-B1........ $ 431,472.93 $ 958.55
Class 2-B2........ $ 431,472.93 $ 958.55
Class 2-B3........ $ 258,883.57 $ 958.55
Class 2-B4........ $ 172,589.36 $ 958.55
Class 2-B5........ $ 215,738.70 $ 958.55
vi) The following pertains to any real estate acquired on behalf of
Certificateholders:
Pool 1 Pool 2
------ ------
Book Value..................................$ 0.00 $ 0.00
Unpaid Principal Balance....................$ 0.00 $ 0.00
The aggregate number of Mortgage Loans included in the Principal
Balance set forth above:.................... 0 0
<PAGE>
vii) Aggregate number and aggregate Principal Balances of delinquent
Mortgage Loans, as of the opening of business on the related
Determination Date:
Loans Principal Balance
----- -----------------
Pool 1..............................
*(1) *30-59 days 14 $ 4,168,579.80
(2) 60-89 days 0 $ 0.00
(3) 90 days or more 3 $ 857,061.28
(4) in foreclosure 3 $ 1,055,555.19
Pool 2..............................
*(1) 30-59 days 2 $ 539,422.67
(2) 60-89 days 1 $ 236,714.25
(3) 90 days or more 0 $ 0.00
(4) in foreclosure 0 $ 0.00
viii)The aggregate number of replaced Mortgage loans and Scheduled
Principal Balance:
Pool 1............................. 0 $ 0.00
Pool 2............................. 0 $ 0.00
ix) The aggregate number of modified Mortgage loans and Principal Balance:
Pool 1............................. 0 $ 0.00
Pool 2............................. 0 $ 0.00
x) Certificate Interest Rate of:
Class 1-A8 Certificates: 6.937500%
Class 1-A9 Certificates: 10.312500%
Class 1-S Certificates: 0.306726%
Class 2-S Certificates: 0.467233%
Pool 1 Pool 2
------ ------
xi) Senior Percentage ..................... 94.14710000% 96.78360000%
xii) Group I Senior Percentage ............. 82.45053655% 85.09101800%
xiii) Group II Senior Percentage ............ 11.69656345% 11.69258200%
xiv) Senior Prepayment Percentage .......... 100.00000000% 100.00000000%
xv) Group I Senior Prepayment Percentage .. 100.00000000% 100.00000000%
xvi) Group II Senior Prepayment Percentage . 0.00000000% 0.00000000%
xvii) Group I Scheduled Distribution Percentage 0.00000000% N/A
xviii) Group II Scheduled Distribution Percentage 0.00000000% N/A
xviv) Junior Percentage ..................... 5.85290000% 3.21640000%
xvx) Junior Prepayment Percentage .......... 0.00000000% 0.00000000%
xvxi)Amount of distribution of Class 1-A7 Certificates allocable to
interest accrued on Components of Class 1-A7 Certificates:
Class 1-A7A Certificates: $ 182,408.67 7.50000000%
Class 1-A7B Certificates: $ 356,965.80 7.50000000%
Class 1-A7C Certificates: $ 83,807.31 7.50000000%
Class 1-A7D Certificates: $ 20,247.02 7.50000000%
xvxii) Amount of distribution of Class 1-A5 Certificates allocable to
interest accrued on Components of Class 1-A5 Certificates:
Class 1-A5A Certificates: $ 5,712.50 7.50000000%
Class 1-A5B Certificates: $ 102,900.53 7.50000000%
* It has been the Company's experience that, with respect to the first
Distribution Date after the closing of a securitization containing a large
number of recently originated or acquired Mortgage Loans, the number of Mortgage
Loans 30-59 days delinquent may be inflated due to the borrowers sending monthly
payments to the wrong location or delays by the Company in inputting the
Mortgage Loans on its servicing system. It has also been the Company's
experience that for the majority of such Mortgage Loans the routing of
borrowers' monthly payments has corrected itself by the second Distribution
Date. However, the Company makes no assurances as to the level of delinquent
Mortgage Loans for future Distribution Dates.
Exhibit 99.5
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
March 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-3
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
(a) Principal ............................$ 286,629.76
(b) Interest .............................$ 2,469,780.24
(c) Total ................................$ 2,756,410.00
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ............................$ 286,629.76
(b) Interest .............................$ 2,412,612.77
(c) Total ................................$ 2,699,242.53
3. Aggregate Principal Prepayments in part received and applied in prior
month: ....................................$ 71,174.42
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ............................$ 17,416,931.33
(b) Interest .............................$ 95,918.97
(c) Total ................................$ 17,512,850.30
5. Aggregate Insurance Proceeds for prior month:
(a) Principal ............................$ 0.00
(b) Interest .............................$ 0.00
(c) Total ................................$ 0.00
<PAGE>
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal ............................$ 0.00
(b) Interest .............................$ 0.00
(c) Total ................................$ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage Loans:
(a) Principal ............................$ 0.00
(b) Interest .............................$ 0.00
(c) Total ................................$ 0.00
8. Aggregate Purchase Prices ( and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal ............................$ 0.00
(b) Interest .............................$ 0.00
(c) Total ................................$ 0.00
9. Pool Scheduled Principal Balance: .........$ 368,917,948.92
10. Available Funds: ..........................$ 20,283,267.25
11. Realized Losses for prior month: ...........$ 0.00
12. Aggregate Realized Losses:
(a) Deficient Valuations: ..................$ 0.00
(b) Special Hazard Losses: .................$ 0.00
(c) Fraud Losses: ..........................$ 0.00
(d) Excess Bankruptcy Losses: ..............$ 0.00
(e) Excess Special Hazard Losses: ..........$ 0.00
(f) Excess Fraud Losses: ...................$ 0.00
(g) Debt Service Reductions: ...............$ 0.00
13. Compensating Interest Payment: .............$ 18,756.81
14. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 3-A1.....$ 0.00 $ 0.00 0.00000000%
Class 3-A2.....$ 194,228.93 $ 0.00 7.50000001%
Class 3-A3.....$ 34,009.95 $ 0.00 7.50000000%
Class 3-A4.....$ 293,750.00 $ 0.00 7.50000000%
Class 3-A5.....$ 264,015.59 $ 0.00 7.49999996%
Class 3-A6.....$ 264,015.59 $ 0.00 7.50000013%
Class 3-A7 ....$ 298,424.83 $ 0.00 7.49999992%
Class 3-A8.....$ 43,750.00 $ 0.00 7.50000000%
Class 3-A9.....$ 213,750.00 $ 0.00 7.50000000%
<PAGE>
Class 3-A10....$ 269,375.00 $ 0.00 7.50000000%
Class 3-A11....$ 184,375.00 $ 0.00 7.50000000%
Class 3-A12....$ 135,625.00 $ 0.00 7.50000000%
Class 3-A13....$ 0.00 $ 0.00 0.00000000%
Class 3-A14....$ 26,812.83 $ 0.00 7.50000133%
Class 3-A15....$ 19,897.33 $ 0.00 7.49999953%
Class 3-M......$ 34,527.23 $ 0.00 7.50000035%
Class 3-B1.....$ 27,620.54 $ 0.00 7.49999895%
Class 3-B2.....$ 27,620.54 $ 0.00 7.49999895%
Class 3-B3.....$ 13,813.37 $ 0.00 7.50000048%
Class 3-B4.....$ 4,144.01 $ 0.00 7.49999864%
Class 3-B5.....$ 9,671.84 $ 0.00 7.50009790%
Class 3-S......$ 96,357.60 $ 0.00 0.32880300%
Class 3-R......$ 0.00 $ 0.00 0.00000000%
15. Accrual Amount:
Class 3-A13.......... $ 52,746.56
16. Principal distributable:
Class 3-A1.....$ 0.00
Class 3-A2.....$ 17,256,552.82
Class 3-A3.....$ 0.00
Class 3-A4.....$ 0.00
Class 3-A5.....$ 31,303.30
Class 3-A6.....$ 31,303.29
Class 3-A7.....$ 438,341.94
Class 3-A8.....$ 0.00
Class 3-A9.....$ 0.00
Class 3-A10....$ 0.00
Class 3-A11....$ 0.00
Class 3-A12....$ 0.00
Class 3-A13....$ 0.00
Class 3-A14....$ 52,746.56
Class 3-A15....$ 0.00
Class 3-PO.....$ 3,314.80
Class 3-M......$ 4,093.76
Class 3-B1.....$ 3,274.86
Class 3-B2.....$ 3,274.86
Class 3-B3.....$ 1,637.80
Class 3-B4.....$ 491.34
Class 3-B5.....$ 1,146.73
Class 3-R......$ 0.00
17. Additional distributions to the Class 3-R Certificate pursuant to
Section 4.01(b):...............................$ 0.00
<PAGE>
18. Certificate Interest Rates of:
Class 3-S Certificates:..... 0.299000%
19. Other Amounts:
A. Senior Percentage for such Distribution Date: ......... 95.133128%
B. Group I Senior Percentage for such Distribution Date: . 73.242868%
C. Group II Senior Percentage for such Distribution Date: 21.890260%
D. Senior Prepayment Percentage for such Distribution
Date:..................................................100.000000%
E. Group I Senior Prepayment Percentage for such
Distribution Date: ....................................100.000000%
F. Group II Senior Prepayment Percentage for such
Distribution Date: .................................... 0.000000%
G. Junior Percentage for such Distribution Date: ......... 4.866872%
H. Junior Prepayment Percentage for such Distribution Date: 0.000000%
I. Subordinate Certificate Writedown Amount for such
Distribution Date: .....................................$ 0.00
J. Prepayment Distribution Triggers satisfied:
YES NO
--- --
Class 3-B1....... X
Class 3-B2....... X
Class 3-B3....... X
Class 3-B4....... X
Class 3-B5....... X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
------------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.6
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
March 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-3
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
The amounts below (other than for Class R) are for a Single Certificate of
$1,000:
1. The amount of such distribution allocable to principal:
Class 3-A1.....$ 0.00000000 Class 3-A13....$ 0.00000000
Class 3-A2.....$ 439.65739669 Class 3-A14....$ 10.87766072
Class 3-A3.....$ 0.00000000 Class 3-A15....$ 0.00000000
Class 3-A4.....$ 0.00000000 Class 3-PO.....$ 4.33315896
Class 3-A5.....$ 0.73443827 Class 3-M......$ 0.73443846
Class 3-A6.....$ 0.73443805 Class 3-B1.....$ 0.73443821
Class 3-A7.....$ 7.15352061 Class 3-B2.....$ 0.73443821
Class 3-A8.....$ 0.00000000 Class 3-B3.....$ 0.73443946
Class 3-A9.....$ 0.00000000 Class 3-B4.....$ 0.73443946
Class 3-A10....$ 0.00000000 Class 3-B5.....$ 0.73443350
Class 3-A11....$ 0.00000000 Class 3-R......$ 0.00000000
Class 3-A12....$ 0.00000000
2. Principal Prepayments included in the above principal distribution
(including the Scheduled Principal Balances of all Defaulted Mortgage
Loans and Defective Mortgage Loans purchased pursuant to Section 2.02,
2.03 (b) or 3.16, respectively, and any amounts deposited pursuant to
Section 2.03(b) in connection with the substitution of any Mortgage
Loans pursuant to Section 2.02 or 2.03(a), the proceeds of which are
being distributed on such Distribution Date):
Class 3-A1.....$ 0.00000000 Class 3-A13....$ 0.00000000
Class 3-A2.....$ 432.90662872 Class 3-A14....$ 10.71063848
Class 3-A3.....$ 0.00000000 Class 3-A15....$ 0.00000000
Class 3-A4.....$ 0.00000000 Class 3-PO.....$ 4.26662499
Class 3-A5.....$ 0.72316126 Class 3-M......$ 0.00000000
Class 3-A6.....$ 0.72316104 Class 3-B1.....$ 0.00000000
Class 3-A7.....$ 7.04368109 Class 3-B2.....$ 0.00000000
Class 3-A8.....$ 0.00000000 Class 3-B3.....$ 0.00000000
<PAGE>
Class 3-A9.....$ 0.00000000 Class 3-B4.....$ 0.00000000
Class 3-A10....$ 0.00000000 Class 3-B5.....$ 0.00000000
Class 3-A11....$ 0.00000000 Class 3-R......$ 0.00000000
Class 3-A12....$ 0.00000000
3. The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 3-A1.....$ 0.00000000 Class 3-A13....$ 0.00000000
Class 3-A2.....$ 4.94850777 Class 3-A14....$ 5.52947657
Class 3-A3.....$ 6.25000000 Class 3-A15....$ 6.24999961
Class 3-A4.....$ 6.25000000 Class 3-M......$ 6.19433620
Class 3-A5.....$ 6.19433586 Class 3-B1.....$ 6.19433505
Class 3-A6.....$ 6.19433600 Class 3-B2.....$ 6.19433505
Class 3-A7.....$ 4.87014355 Class 3-B3.....$ 6.19433632
Class 3-A8.....$ 6.25000000 Class 3-B4.....$ 6.19433483
Class 3-A9.....$ 6.25000000 Class 3-B5.....$ 6.19441653
Class 3-A10....$ 6.25000000 Class 3-R......$ 0.00000000
Class 3-A11....$ 6.25000000 Class 3-S......$ 0.21607830
Class 3-A12....$ 6.25000000
4. Accrual Amount:
Class A13 ............... $ 52,746.56
5. The amount of servicing compensation received by the Company during
the month preceding the month of distribution:.........$ 79,360.86
The amounts below are for the aggregate of all Certificates.
6. The Pool Scheduled Principal Balances of each Mortgage Pool on the
preceding Due Date after giving effect to all distributions allocable
to principal made on such Distribution Date:...........$368,917,948.92
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:..................... 1,318
<PAGE>
7. The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to (i) all distributions allocable to principal
made on such Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date:
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 3-A1...................$ 0.00 $ 0.00
Class 3-A2...................$ 13,820,075.92 $ 352.10
Class 3-A3...................$ 5,441,592.00 $ 1,000.00
Class 3-A4...................$ 47,000,000.00 $ 1,000.00
Class 3-A5...................$ 42,211,191.30 $ 990.36
Class 3-A6...................$ 42,211,190.38 $ 990.36
Class 3-A7...................$ 47,309,631.35 $ 772.07
Class 3-A8...................$ 7,000,000.00 $ 1,000.00
Class 3-A9...................$ 34,200,000.00 $ 1,000.00
Class 3-A10..................$ 43,100,000.00 $ 1,000.00
Class 3-A11..................$ 29,500,000.00 $ 1,000.00
Class 3-A12..................$ 21,700,000.00 $ 1,000.00
Class 3-A13..................$ 8,492,195.52 $ 1,077.63
Class 3-A14..................$ 4,237,305.48 $ 873.84
Class 3-A15..................$ 3,183,573.00 $ 1,000.00
Class 3-PO...................$ 741,527.77 $ 969.34
Class 3-M....................$ 5,520,262.78 $ 990.36
Class 3-B1...................$ 4,416,012.16 $ 990.36
Class 3-B2...................$ 4,416,012.16 $ 990.36
Class 3-B3...................$ 2,208,501.26 $ 990.36
Class 3-B4...................$ 662,550.38 $ 990.36
Class 3-B5...................$ 1,546,327.46 $ 990.36
Class 3-R....................$ 0.00 $ 0.00
Class 3-S....................$ 334,155,791.41 $ 815.54
8. The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in lieu of
foreclosure or otherwise, of any REO Mortgage Loan:
book value......................................$ 0.00
unpaid principal balance........................$ 0.00
number of related mortgage loans................ 0
<PAGE>
9. The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the month
preceding the related Determination Date, were:
(a) delinquent
(1) 30-59 days
Number 11 Principal Balance $ 2,845,528.59
(2) 60-89 days
Number 3 Principal Balance $ 526,243.95
(3) 90 days or more
Number 3 Principal Balance $ 1,014,930.91
(b) in foreclosure
Number 2 Principal Balance $ 824,176.07
10. The Scheduled Principal Balance of any Mortgage Loan replaced pursuant
to Section 2.03(b), and of any Modified Mortgage Loan purchased
pursuant to Section 3.01(c): .............. $ 0.00
11. The Certificate Interest Rates, applicable to the Interest Accrual
Period relating to such Distribution Date:
Class 3-S: ........................ 0.299000%
12. Senior Percentage for such Distribution Date: .......... 95.13312800%
13. Group I Senior Percentage for such Distribution Date: .. 73.24286800%
14. Group II Senior Percentage for such Distribution Date: . 21.89026000%
15. Senior Prepayment Percentage for such Distribution Date: 100.00000000%
16. Group I Senior Prepayment Percentage for such
Distribution Date: ..................................... 100.00000000%
17. Group II Senior Prepayment Percentage for such
Distribution Date: ..................................... 0.00000000%
18. Junior Percentage for such Distribution Date: .......... 4.86687200%
19. Junior Prepayment Percentage for such Distribution Date: 0.00000000%
Exhibit 99.7
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
March 1998
Home Equity Loan Pass-Through Certificates
Series 1997-HE1
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company"),
and The First National Bank of Chicago (the "Trustee"), governing the
Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
(1) Aggregate Monthly Payments Due: $ 1,632,676.17
(2) Aggregate Monthly Payments received and Monthly Advances made this
Month:
(a) Principal $ 325,223.44
(b) Interest $ 1,329,286.25
(c) Total $ 1,654,509.69
(3) Aggregate Principal Prepayments in part received on Self- Amortizing
Mortgage Loans and applied in the applicable Prepayment Period:
(a) Principal $ 149,888.55
(c) Total $ 149,888.55
(4) Aggregate Principal Prepayments in full received in the applicable
Prepayment period:
(a) Principal $ 3,852,218.59
(b) Interest $ 38,269.35
(c) Total $ 3,890,487.94
(5) Aggregate Insurance Proceeds (inculding purchases of Mortgage Loans by
primary mortgage insurers) for prior month:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(6) Aggregate Liquidation Proceeds for prior month:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
<PAGE>
(7) Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(8) Aggregate Purchase Prices for (and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(9) Aggregate Purchase Prices for for Document Deficiencies per Sec. 2.02:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(10) Pool Principal Balance: $ 169,816,787.52
(11) Available Funds: $ 5,618,589.99
(12) Realized Losses for prior month: $ 0.00
(13) Aggregate Realized Losses: $ 0.00
(a) Deficient Valuations $ 0.00
(b) Special Hazard Losses $ 0.00
(c) Fraud Losses $ 0.00
(d) Excess Bankruptcy Losses $ 0.00
(e) Excess Special Hazard Losses $ 0.00
(f) Excess Fraud Losses $ 0.00
<PAGE>
(14) Compensating Interest Payment: $ 4,499.97
(15) Net Simple Interest Shortfall: $ 0.00
(16) Net Simple Interest Excess: $ 0.00
(17) Simple Interest Shortfall Payment: $ 0.00
(18) Unpaid Net Simple Interest Shortfall:
Class A1 36157T4B4 $ 0.00
Class A2 36157T4C2 $ 0.00
Class A3 36157T4D0 $ 0.00
Class A4 36157T4E8 $ 0.00
Class A5 36157T4F5 $ 0.00
Class S 36197HE1S $ 0.00
Class M 36157T4J7 $ 0.00
Class B1 36157T4K4 $ 0.00
Class B2 36157T4L2 $ 0.00
Class B3 36157T5M9 $ 0.00
Class B4 36157T5N7 $ 0.00
Class B5 36157T5P2 $ 0.00
(19) Class Certificate Interest Rate:
Class A4 36157T4E8 7.780%
Class M 36157T4J7 7.500%
Class B1 36157T4K4 7.500%
Class B2 36157T4L2 7.500%
Class B3 36157T5M9 9.125%
Class B4 36157T5N7 9.125%
Class B5 36157T5P2 9.125%
Class S 36196HE4S 2.00%
(20) Accrued Certificate Interest and Pay-out Rate:
Class A1 36157T4B4 $ 260,735.06 6.670%
Class A2 36157T4C2 $ 276,489.60 6.940%
Class A3 36157T4D0 $ 86,895.38 7.350%
Class A4 36157T4E8 $ 102,864.57 7.780%
Class A5 36157T4F5 $ 182,250.00 7.290%
Class S 36197HE1S $ 283,380.97 2.00%
Class M 36157T4J7 $ 33,365.92 7.500%
Class B1 36157T4K4 $ 24,268.36 7.500%
Class B2 36157T4L2 $ 15,170.79 7.500%
Class B3 36157T5M9 $ 9,597.94 9.125%
Class B4 36157T5N7 $ 2,948.04 9.125%
Class B5 36157T5P2 $ 13,292.77 9.125%
Total $ 1,291,259.40
(21) Principal distributable:
Class A1 36157T4B4 $ 4,298,513.56
Class A2 36157T4C2 $ 0.00
Class A3 36157T4D0 $ 0.00
Class A4 36157T4E8 $ 0.00
Class A5 36157T4F5 $ 0.00
Class M 36157T4J7 $ 10,224.08
Class B1 36157T4K4 $ 7,436.38
Class B2 36157T4L2 $ 4,648.68
Class B3 36157T5M9 $ 2,417.39
Class B4 36157T5N7 $ 742.51
Class B5 36157T5P2 $ 3,347.99
Class R1 36157T4G3 $ 0.00
Class R2 36157T4H1 $ 0.00
Total $ 4,327,330.58
(22) Additional distributions to the Class R1 Certificate pursuant to
Section 2.05 (d) : $ 0.00
(23) Additional distributions to the Class R2 Certificate pursuant to
Section 4.01 (b) : $ 0.00
<PAGE>
B. Other Amounts:
(1) Senior Percentage for such Distribution Date: 91.139315%
(2) Senior Prepayment Percentage for such Distribution Date: 100.000000%
(3) Junior Percentage for such Distribution Date: 8.860685%
(4) Junior Prepayment Percentage for such Distribution Date: 0.000000%
(5) Subordinate Certfificate Writedown Amount for such
Distribution Date: 0.000000%
(6) Prepayment Distribution Triggers satisfied:
Yes No
--- --
Class B1 X
Class B2 X
Class B3 X
Class B4 X
Class B5 X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
--------------------------------------
Name: Karen Pickett
Title: Vice President,
Investor Operations
Exhibit 99.8
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
MARCH 1998
Home Equity Loan Pass-Through Certificates
Series 1997-HE1
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company"),
and The First National Bank of Chicago (the "Trustee"), governing the
Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
The amounts below are for a Single Certificate of $1,000:
(1) Amount of distribution allocable to principal:
Class A1 36157T4B4 $ 57.60924151
Class A2 36157T4C2 $ 0.00000000
Class A3 36157T4D0 $ 0.00000000
Class A4 36157T4E8 $ 0.00000000
Class A5 36157T4F5 $ 0.00000000
Class M 36157T4J7 $ 1.87977248
Class B1 36157T4K4 $ 1.87977248
Class B2 36157T4L2 $ 1.87977248
Class B3 36157T5M9 $ 1.87977248
Class B4 36157T5N7 $ 1.87977248
Class B5 36157T5P2 $ 1.87977248
Class R1 36157T4G3 $ 0.00000000
Class R2 36157T4H1 $ 0.00000000
(2) Aggregate Principal prepayments included in distribution:
Class A1 36157T4B4 $ 4,002,107.14
Class A2 36157T4C2 $ 0.00
Class A3 36157T4D0 $ 0.00
Class A4 36157T4E8 $ 0.00
Class A5 36157T4F5 $ 0.00
Class M 36157T4J7 $ 0.00
Class B1 36157T4K4 $ 0.00
Class B2 36157T4L2 $ 0.00
Class B3 36157T5M9 $ 0.00
Class B4 36157T5N7 $ 0.00
Class B5 36157T5P2 $ 0.00
Class R1 36157T4G3 $ 0.00
Class R2 36157T4H1 $ 0.00
<PAGE>
(3) Amount of distribution allocable to interest Pay-out Rate:
Class A1 36157T4B4 $ 3.49440547 6.670%
Class A2 36157T4C2 $ 5.78333333 6.940%
Class A3 36157T4D0 $ 6.12500000 7.350%
Class A4 36157T4E8 $ 6.48333333 7.780%
Class A5 36157T4F5 $ 6.07500000 7.290%
Class S 36197HE1S $ 1.66874534 2.00%
Class M 36157T4J7 $ 6.13456944 7.500%
Class B1 36157T4K4 $ 6.13456944 7.500%
Class B2 36157T4L2 $ 6.13456944 7.500%
Class B3 36157T5M9 $ 7.46340388 9.125%
Class B4 36157T5N7 $ 7.46340388 9.125%
Class B5 36157T5P2 $ 7.46340388 9.125%
(4) Servicing Compensation: $ 85,651.33
The amounts below are for the aggregate of all Certificates:
(5) Pool Principal Balance; $ 169,816,787.52
number of Mortgage Loans: 2,729
(6) Class Certificate Principal Balance of each Class; Certificate
Principal Balance of Single Certificate of each class:
Single
Certificate
Class Cusip# Class Balance Balance
----- ------ ------------- -------
Class A1 36157T4B4 $ 42,610,343.59 $ 571.06940411
Class A2 36157T4C2 $ 47,808,000.00 $ 1,000.00000000
Class A3 36157T4D0 $ 14,187,000.00 $ 1,000.00000000
Class A4 36157T4E8 $ 15,866,000.00 $ 1,000.00000000
Class A5 36157T4F5 $ 30,000,000.00 $ 1,000.00000000
Class M 36157T4J7 $ 5,328,323.63 $ 979.65133813
Class B1 36157T4K4 $ 3,875,500.69 $ 979.65133813
Class B2 36157T4L2 $ 2,422,677.76 $ 979.65133813
Class B3 36157T5M9 $ 1,259,831.62 $ 979.65133813
Class B4 36157T5N7 $ 386,962.28 $ 979.65133813
Class B5 36157T5P2 $ 1,744,817.81 $ 979.65133813
Class R1 36157T4G3 $ 0.00 $ 0.00000000
Class R2 36157T4H1 $ 0.00 $ 0.00000000
<PAGE>
(7) Book value of real estate acquired on behalf of Certificate-
holders; $ 0.00
number of related Mortgage Loans: 0
(8) Aggregate Scheduled Principal Balance and number of delinquent
Mortgage Loans:
One Payment Delinquent $ 1,488,861.72
28
Two Payments Delinquent $ 1,136,892.47
19
Three or more Payments Delinquent $ 1,062,480.34
17
TOTAL $ 3,688,234.53
64
In foreclosure $ 1,786,411.85
30
(9) Aggregate Scheduled Principal Balance and number of replaced Mortgage
Loans: $ 0.00
0
(10) Unpaid Net Simple Interest Shortfall:
Class A1 36157T4B4 $ 0.00
Class A2 36157T4C2 $ 0.00
Class A3 36157T4D0 $ 0.00
Class A4 36157T4E8 $ 0.00
Class A5 36157T4F5 $ 0.00
Class S 36197HE1S $ 0.00
Class M 36157T4J7 $ 0.00
Class B1 36157T4K4 $ 0.00
Class B2 36157T4L2 $ 0.00
Class B3 36157T5M9 $ 0.00
Class B4 36157T5N7 $ 0.00
Class B5 36157T5P2 $ 0.00
(11) Class Certificate Interest Rate of:
Class A4 36157T4E8 7.290%
Class M 36157T4J7 7.500%
Class B1 36157T4K4 7.500%
Class B2 36157T4L2 7.500%
Class B3 36157T5M9 9.125%
Class B4 36157T5N7 9.125%
Class B5 36157T5P2 9.125%
Class S 36197HE1S 2.00%
(12) Senior Percentage for such Distribution Date: 91.139315%
(13) Senior Prepayment Percentage for such Distribution Date: 100.000000%
(14) Junior Percentage for such Distribution Date: 8.860685%
(15) Junior Prepayment Percentage for such Distribution Date: 0.000000%
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
--------------------------------------
Name: Karen Pickett
Title: Vice President,
Investor Operations
Exhibit 99.9
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
February 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-4
Pursuant to the Pooling and Servicing Agreement dated as of April 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
(a) Principal ....................................$ 227,472.82
(b) Interest .....................................$ 2,006,349.11
(c) Total ........................................$ 2,233,821.93
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ....................................$ 227,472.82
(b) Interest .....................................$ 1,956,318.33
(c) Total ........................................$ 2,183,791.15
3. Aggregate Principal Prepayments in part received and applied in prior
month: .............................................$ 107,258.60
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ....................................$ 12,684,600.03
(b) Interest .....................................$ 72,503.58
(c) Total ........................................$ 12,757,103.61
5. Aggregate Insurance Proceeds for prior month:
(a) Principal ....................................$ 0.00
(b) Interest .....................................$ 0.00
(c) Total ........................................$ 0.00
<PAGE>
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal ....................................$ 0.00
(b) Interest .....................................$ 0.00
(c) Total ........................................$ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage Loans:
(a) Principal .....................................$ 223,686.20
(b) Interest ......................................$ 567.90
(c) Total .........................................$ 224,254.10
8. Aggregate Purchase Prices ( and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal .....................................$ 0.00
(b) Interest ......................................$ 0.00
(c) Total .........................................$ 0.00
9. Pool Scheduled Principal Balance: ...................$ 300,603,004.60
10. Available Funds:.....................................$ 15,272,407.46
11. Realized Losses for prior month: ....................$ 0.00
12. Aggregate Realized Losses:
(a) Deficient Valuations: ...........................$ 0.00
(b) Special Hazard Losses: ..........................$ 0.00
(c) Fraud Losses: ...................................$ 0.00
(d) Excess Bankruptcy Losses: .......................$ 0.00
(e) Excess Special Hazard Losses: ...................$ 0.00
(f) Excess Fraud Losses: ............................$ 0.00
(g) Debt Service Reductions: ........................$ 0.00
13. Non-Credit Losses:...................................$ 0.00
14. Compensating Interest Payment:.......................$ 11,342.49
15. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 4-A1.....$ 134,599.11 $ 0.00 7.49855766%
Class 4-A2.....$ 108,955.93 $ 0.00 7.49855716%
Class 4-A3.....$ 140,885.40 $ 0.00 7.49855762%
Class 4-A4.....$ 147,222.36 $ 0.00 7.49855742%
Class 4-A5.....$ 284,670.25 $ 0.00 7.49855782%
Class 4-A6.....$ 40,061.83 $ 0.00 7.49855773%
<PAGE>
Class 4-A7 ....$ 66,505.17 $ 0.00 7.49855740%
Class 4-A8 ....$ 271,674.70 $ 0.00 7.49855783%
Class 4-A9 ....$ 122,563.93 $ 0.00 7.49855797%
Class 4-A10 ...$ 215,652.27 $ 0.00 7.49855768%
Class 4-A11 ...$ 128,800.23 $ 0.00 7.49855793%
Class 4-A12 ...$ 203,410.88 $ 0.00 7.49855788%
Class 4-M......$ 27,201.38 $ 0.00 7.49855701%
Class 4-B1.....$ 21,759.86 $ 0.00 7.49855598%
Class 4-B2.....$ 21,759.85 $ 0.00 7.49855253%
Class 4-B3.....$ 10,883.04 $ 0.00 7.49856125%
Class 4-B4.....$ 3,263.67 $ 0.00 7.49855898%
Class 4-B5.....$ 7,614.04 $ 0.00 7.49864442%
Class 4-S......$ 71,919.75 $ 0.00 0.30327400%
Class 4-R......$ 0.00 $ 0.00 0.00000000%
16. Principal distributable:
Class 4-A1.....$ 0.00
Class 4-A2.....$ 2,998,716.47
Class 4-A3.....$ 0.00
Class 4-A4.....$ 983,980.36
Class 4-A5.....$ 0.00
Class 4-A6.....$ 66,505.17
Class 4-A7.....$ 0.00
Class 4-A8.....$ 9,246,416.95
Class 4-A9.....$ 0.00
Class 4-A10....$ 0.00
Class 4-A11....$ 0.00
Class 4-A12....$ 0.00
Class 4-PO.....$ 3,179.53
Class 4-M......$ 3,154.32
Class 4-B1.....$ 2,523.31
Class 4-B2.....$ 2,523.31
Class 4-B3.....$ 1,262.01
Class 4-B4.....$ 378.46
Class 4-B5.....$ 882.93
Class 4-R......$ 0.00
17. Additional distributions to the Class 4-R Certificate pursuant to
Section 4.01(b): ...............................$ 0.00
18. Certificate Interest Rates of:
Class 4-S Certificates:..... 0.275000%
19. Accrual Amount A7 Certificates:..................$ 66,505.17
<PAGE>
B. Other Amounts:
1. Senior Percentage for such Distribution Date: .......... 95.275477%
2. Group I Senior Percentage for such Distribution Date: .. 80.673340%
3. Group II Senior Percentage for such Distribution Date: . 14.602137%
4. Senior Prepayment Percentage for such Distribution Date: 100.000000%
5. Group I Senior Prepayment Percentage for such
Distribution Date: ..................................... 100.000000%
6. Group II Senior Prepayment Percentage for such
Distribution Date: ..................................... 0.000000%
7. Junior Percentage for such Distribution Date: .......... 4.724523%
8. Junior Prepayment Percentage for such Distribution Date: 0.000000%
9. Subordinate Certificate Writedown Amount for such
Distribution Date: .....................................$ 0.00
10. Prepayment Distribution Triggers satisfied:
Yes No
--- --
Class 4-B1....... X
Class 4-B2....... X
Class 4-B3....... X
Class 4-B4....... X
Class 4-B5....... X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
-----------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.10
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
March 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-4
Pursuant to the Pooling and Servicing Agreement dated as of April 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
(a) The amounts below (other than for Class R) are for a Single Certificate of
$1,000:
i) The amount of such distribution allocable to principal:
Class 4-A1....$ 0.00000000 Class 4-A12....$ 0.00000000
Class 4-A2....$ 83.82625080 Class 4-PO.....$ 5.35498888
Class 4-A3....$ 0.00000000 Class 4-M......$ 0.71950730
Class 4-A4....$ 33.26843020 Class 4-B1.....$ 0.71950670
Class 4-A5....$ 0.00000000 Class 4-B2.....$ 0.71950670
Class 4-A6....$ 9.42800796 Class 4-B3.....$ 0.71950399
Class 4-A7....$ 0.00000000 Class 4-B4.....$ 0.71950570
Class 4-A8....$ 165.50766911 Class 4-B5.....$ 0.71950997
Class 4-A9....$ 0.00000000 Class 4-R......$ 0.00000000
Class 4-A10...$ 0.00000000
Class 4-A11...$ 0.00000000
ii) Principal Prepayments included in the above principal distribution
(including the Scheduled Principal Balances of all Defaulted Mortgage
Loans and Defective Mortgage Loans purchased pursuant to Section 2.02,
2.03 (b) or 3.16, respectively, and any amounts deposited pursuant to
Section 2.03(b) in connection with the substitution of any Mortgage
Loans pursuant to Section 2.02 or 2.03(a), the proceeds of which are
being distributed on such Distribution Date):
<PAGE>
Class 4-A1....$ 0.00000000 Class 4-A12...$ 0.00000000
Class 4-A2....$ 82.45315456 Class 4-M.....$ 0.00000000
Class 4-A3....$ 0.00000000 Class 4-PO....$ 5.26727274
Class 4-A4....$ 32.72348448 Class 4-B1....$ 0.00000000
Class 4-A5....$ 0.00000000 Class 4-B2....$ 0.00000000
Class 4-A6....$ 9.27357469 Class 4-B3....$ 0.00000000
Class 4-A7....$ 0.00000000 Class 4-B4....$ 0.00000000
Class 4-A8....$ 162.79660955 Class 4-B5....$ 0.00000000
Class 4-A9....$ 0.00000000 Class 4-R.....$ 0.00000000
Class 4-A10...$ 0.00000000
Class 4-A11...$ 0.00000000
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 4-A1....$ 6.24879805 Class 4-A12...$ 6.24879823
Class 4-A2....$ 3.04575881 Class 4-M.....$ 6.20469434
Class 4-A3....$ 6.24879801 Class 4-PO....$ 0.00000000
Class 4-A4....$ 4.97759611 Class 4-B1....$ 6.20469347
Class 4-A5....$ 6.24879818 Class 4-B2....$ 6.20469062
Class 4-A6....$ 5.67930678 Class 4-B3....$ 6.20469783
Class 4-A7....$ 6.65051700 Class 4-B4....$ 6.20469582
Class 4-A8....$ 4.86288328 Class 4-B5....$ 6.20477011
Class 4-A9....$ 6.24879831 Class 4-R.....$ 0.00000000
Class 4-A10...$ 6.24879806 Class 4-S.....$ 0.20507428
Class 4-A11...$ 6.24879827
iv) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:.....$ 65,093.78
(b) The amounts below are for the aggregate of all Certificates.
v) The Pool Scheduled Principal Balances of each Mortgage Pool on the
preceding Due Date after giving effect to all distributions allocable
to principal made on such Distribution Date:.......$ 300,603,004.60
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:................. 1,091
vi) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to (i) all distributions allocable to principal
made on such Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date:
<PAGE>
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 4-A1..................$ 21,540,000.00 $ 1,000.00
Class 4-A2..................$ 14,437,586.71 $ 403.59
Class 4-A3..................$ 22,546,000.00 $ 1,000.00
Class 4-A4..................$ 22,576,128.89 $ 763.30
Class 4-A5..................$ 45,556,000.00 $ 1,000.00
Class 4-A6..................$ 6,344,620.51 $ 899.44
Class 4-A7..................$ 10,709,379.49 $ 1,070.94
Class 4-A8..................$ 34,229,895.11 $ 612.70
Class 4-A9..................$ 19,614,000.00 $ 1,000.00
Class 4-A10.................$ 34,511,000.00 $ 1,000.00
Class 4-A11.................$ 20,612,000.00 $ 1,000.00
Class 4-A12.................$ 32,552,000.00 $ 1,000.00
Class 4-PO..................$ 585,189.11 $ 985.58
Class 4-M...................$ 4,349,904.00 $ 992.22
Class 4-B1..................$ 3,479,724.75 $ 992.22
Class 4-B2..................$ 3,479,724.75 $ 992.22
Class 4-B3..................$ 1,740,358.49 $ 992.22
Class 4-B4..................$ 521,909.09 $ 992.22
Class 4-B5..................$ 1,217,583.70 $ 992.22
Class 4-R...................$ 0.00 $ 0.00
Class 4-S...................$ 271,594,197.45 $ 845.66
vii) The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in lieu of
foreclosure or otherwise, of any REO Mortgage Loan:
book value......................................$ 0.00
unpaid principal balance........................$ 0.00
number of related mortgage loans................ 0
viii)The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the month
preceding the related Determination Date, were:
(a) delinquent
(1) 30-59 days
*Number 12 *Principal Balance $ 3,452,474.41
(2) 60-89 days
Number 2 Principal Balance $ 409,374.96
(3) 90 days or more
Number 1 Principal Balance $ 217,258.67
(b) in foreclosure
Number 0 Principal Balance $ 0.00
ix) The Scheduled Principal Balance of any Mortgage Loan replaced pursuant
to Section 2.03(b), and of any Modified Mortgage Loan purchased
pursuant to Section 3.01(c): .............. $ 0.00
x) The Certificate Interest Rates, applicable to the Interest Accrual
Period relating to such Distribution Date:
Class 4-S: ........................ 0.275000%
1. Senior Percentage for such Distribution Date: ....... 95.27547700%
2. Group I Senior Percentage for such Distribution Date: 80.67334000%
3. Group II Senior Percentage for such Distribution Date:14.60213700%
4. Senior Prepayment Percentage for such Distribution
Date:................................................100.00000000%
5. Group I Senior Prepayment Percentage for such
Distribution Date: ..................................100.00000000%
6. Group II Senior Prepayment Percentage for such
Distribution Date: .................................. 0.00000000%
7. Junior Percentage for such Distribution Date: ........ 4.72452300%
8. Junior Prepayment Percentage for such Distribution
Date: ................................................ 0.00000000%
Exhibit 99.11
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
March 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-5
Pursuant to the Pooling and Servicing Agreement dated as of May 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
(a) Principal .................................$ 305,722.76
(b) Interest ..................................$ 2,777,646.44
(c) Total .....................................$ 3,083,369.20
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal .................................$ 305,722.76
(b) Interest ..................................$ 2,700,001.58
(c) Total .....................................$ 3,005,724.34
3. Aggregate Principal Prepayments in part received and applied in prior
month: ..........................................$ 177,638.35
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal .................................$ 11,175,547.28
(b) Interest ..................................$ 66,197.92
(c) Total .....................................$ 11,241,745.20
<PAGE>
5. Aggregate Insurance Proceeds for prior month:
(a) Principal .................................$ 0.00
(b) Interest ..................................$ 0.00
(c) Total .....................................$ 0.00
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal .................................$ 0.00
(b) Interest ..................................$ 0.00
(c) Total .....................................$ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage Loans:
(a) Principal .................................$ 0.00
(b) Interest ..................................$ 0.00
(c) Total .....................................$ 0.00
8. Aggregate Purchase Prices ( and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal .................................$ 0.00
(b) Interest ..................................$ 0.00
(c) Total .....................................$ 0.00
9. Pool Scheduled Principal Balance: ..............$ 412,880,550.25
10. Available Funds: ...............................$ 14,425,107.89
11. Realized Losses for prior month: ................$ 0.00
12. Aggregate Realized Losses:
(a) Deficient Valuations: .......................$ 0.00
(b) Special Hazard Losses: ......................$ 0.00
(c) Fraud Losses: ...............................$ 0.00
(d) Excess Bankruptcy Losses: ...................$ 0.00
(e) Excess Special Hazard Losses: ...............$ 0.00
(f) Excess Fraud Losses: ........................$ 0.00
(g) Debt Service Reductions: ....................$ 0.00
13. Non-Credit Losses: ..............................$ 0.00
14. Compensating Interest Payment: ..................$ 7,955.73
<PAGE>
15. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 5-A1......$ 152,646.29 $ 0.00 7.50000003%
Class 5-A2......$ 1,257,410.70 $ 0.00 7.50000000%
Class 5-A3......$ 38,125.00 $ 0.00 7.50000000%
Class 5-A4......$ 12,187.50 $ 0.00 7.50000000%
Class 5-A5......$ 61,671.82 $ 0.00 7.50000000%
Class 5-A6......$ 998,250.24 $ 0.00 7.50000001%
Class 5-A7 .....$ 0.00 $ 0.00 0.00000000%
Class 5-PO1 ....$ 0.00 $ 0.00 0.00000000%
Class 5-PO2 ....$ 0.00 $ 0.00 0.00000000%
Class 5-M.......$ 45,612.86 $ 0.00 7.49999972%
Class 5-B1......$ 30,408.57 $ 0.00 7.49999887%
Class 5-B2......$ 22,806.43 $ 0.00 7.49999871%
Class 5-B3......$ 15,204.29 $ 0.00 7.50000142%
Class 5-B4......$ 4,561.30 $ 0.00 7.50002374%
Class 5-B5......$ 10,643.01 $ 0.00 7.49999934%
Class 5-S1......$ 42,162.09 $ 0.00 0.44373200%
Class 5-S2......$ 74,509.41 $ 0.00 0.31768100%
Class 5-R.......$ 0.00 $ 0.00 0.00000000%
16. Principal distributable:
Class 5-A1..... $ 1,215,069.05
Class 5-A2..... $ 0.00
Class 5-A3..... $ 0.00
Class 5-A4..... $ 0.00
Class 5-A5..... $ 7,104.01
Class 5-A6..... $ 10,417,570.39
Class 5-A7..... $ 0.00
Class 5-PO1.... $ 3,779.03
Class 5-PO2.... $ 499.09
Class 5-M...... $ 5,254.17
Class 5-B1..... $ 3,502.78
Class 5-B2..... $ 2,627.09
Class 5-B3..... $ 1,751.39
Class 5-B4..... $ 525.42
Class 5-B5..... $ 1,225.97
Class 5-R...... $ 0.00
17. Additional distributions to the Class 5-R Certificate pursuant to
Section 4.01(b):.....................................$ 0.00
18. Certificate Interest Rates of:
Class 5-S1 Certificates:..... 0.443732%
Class 5-S2 Certificates:..... 0.317681%
<PAGE>
19. Accrual Amount A7 Certificates:......................$ 0.00
B. Other Amounts:
1. Senior Percentage for such Distribution Date: ............ 95.122284%
2. Category A-Senior Percentage for such Distribution Date: . 9.987840%
3. Category B-Senior Percentage for such Distribution Date: . 85.134444%
4. Category A-Percentage for such Distribution Date: ........ 10.500000%
5. Category B-Percentage for such Distribution Date: ........ 89.500000%
6. Group I Senior Percentage for such Distribution Date: .... 45.336718%
7. Category A-Group I Senior Percentage for such
Distribution Date: ....................................... 7.660187%
8. Category B-Group I Senior Percentage for such
Distribution Date: ....................................... 37.676531%
9. Group II Senior Percentage for such Distribution Date: ... 49.785566%
10. Category A-Group II Senior Percentage for such
Distribution Date: ....................................... 2.327653%
11. Category B-Group II Senior Percentage for such
Distribution Date: ....................................... 47.457913%
12. Category B-Group I Scheduled Distribution Percentage:..... 85.134444%
13. Category B-Group II Scheduled Distribution Percentage:.... 0.000000%
14. Senior Prepayment Percentage for such Distribution Date: . 100.000000%
15. Category A-Senior Prepayment Percentage
for such Distribution Date: .............................. 10.500000%
16. Category B-Senior Prepayment Percentage
for such Distribution Date: .............................. 89.500000%
17. Group I Senior Prepayment Percentage for such
Distribution Date: ....................................... 100.000000%
<PAGE>
18. Category A-Group I Senior Prepayment Percentage for such
Distribution Date: ....................................... 10.500000%
19. Category B-Group I Senior Prepayment Percentage for such
Distribution Date: ....................................... 89.500000%
20. Group II Senior Prepayment Percentage for such
Distribution Date: ....................................... 0.000000%
21. Category A-Group II Senior Prepayment Percentage for such
Distribution Date: ....................................... 0.000000%
22. Category B-Group II Senior Prepayment Percentage for such
Distribution Date: ....................................... 0.000000%
23. Junior Percentage for such Distribution Date: ............ 4.877716%
24. Junior Prepayment Percentage for such Distribution Date: . 0.000000%
25. Subordinate Certificate Writedown Amount for such
Distribution Date: .......................................$ 0.00
26. Prepayment Distribution Triggers satisfied:
YES NO
--- --
Class 5-B1....... X
Class 5-B2....... X
Class 5-B3....... X
Class 5-B4....... X
Class 5-B5....... X
27. Category B Trigger satisfied:
YES NO
--- --
X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
-----------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.12
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
March 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-5
Pursuant to the Pooling and Servicing Agreement dated as of May 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
(a) The amounts below (other than for Class R) are for a Single Certificate of
$1,000:
i) The amount of such distribution allocable to principal:
Class 5-A1......$ 38.95757662 Class 5-M......$ 0.71520424
Class 5-A2......$ 0.00000000 Class 5-B1.....$ 0.71520424
Class 5-A3......$ 0.00000000 Class 5-B2.....$ 0.71520550
Class 5-A4......$ 0.00000000 Class 5-B3.....$ 0.71520424
Class 5-A5......$ 0.71520424 Class 5-B4.....$ 0.71520842
Class 5-A6......$ 50.21697123 Class 5-B5.....$ 0.71520181
Class 5-A7......$ 0.00000000 Class 5-R......$ 0.00000000
Class 5-PO1.....$ 27.86487787
Class 5-PO2.....$ 0.99890325
ii) Principal Prepayments included in the above principal distribution
(including the Scheduled Principal Balances of all Defaulted Mortgage
Loans and Defective Mortgage Loans purchased pursuant to Section 2.02,
2.03 (b) or 3.16, respectively, and any amounts deposited pursuant to
Section 2.03(b) in connection with the substitution of any Mortgage
Loans pursuant to Section 2.02 or 2.03(a), the proceeds of which are
being distributed on such Distribution Date):
Class 5-A1......$ 37.98452247 Class 5-M......$ 0.00000000
Class 5-A2......$ 0.00000000 Class 5-B1.....$ 0.00000000
Class 5-A3......$ 0.00000000 Class 5-B2.....$ 0.00000000
Class 5-A4......$ 0.00000000 Class 5-B3.....$ 0.00000000
Class 5-A5......$ 0.69734039 Class 5-B4.....$ 0.00000000
Class 5-A6......$ 48.96268807 Class 5-B5.....$ 0.00000000
Class 5-A7......$ 0.00000000 Class 5-R......$ 0.00000000
Class 5-PO1.....$ 27.16888912
Class 5-PO2.....$ 0.97395337
<PAGE>
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 5-A1......$ 4.89414946 Class 5-B1.....$ 6.20887930
Class 5-A2......$ 6.25000000 Class 5-B2.....$ 6.20887913
Class 5-A3......$ 6.25000000 Class 5-B3.....$ 6.20888134
Class 5-A4......$ 6.25000000 Class 5-B4.....$ 6.20889988
Class 5-A5......$ 6.20888022 Class 5-B5.....$ 6.20887952
Class 5-A6......$ 4.81197647 Class 5-R......$ 0.00000000
Class 5-A7......$ 0.00000000 Class 5-S1.....$ 0.42335981
Class 5-M.......$ 6.20887998 Class 5-S2.....$ 0.74816712
iv) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:.....$ 88,096.58
(b) The amounts below are for the aggregate of all Certificates.
v) The Pool Scheduled Principal Balances of each Mortgage Pool on the
preceding Due Date after giving effect to all distributions allocable
to principal made on such Distribution Date:.......$ 412,880,550.25
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:................. 1,572
vi) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to (i) all distributions allocable to principal
made on such Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date:
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 5-A1................$ 23,208,337.24 $ 744.11
Class 5-A2................$ 201,185,712.00 $ 1,000.00
Class 5-A3................$ 6,100,000.00 $ 1,000.00
Class 5-A4................$ 1,950,000.00 $ 1,000.00
Class 5-A5................$ 9,860,387.19 $ 992.71
Class 5-A6................$ 149,302,467.88 $ 719.70
Class 5-A7................$ 0.00 $ 0.00
Class 5-PO1...............$ 118,425.20 $ 873.21
Class 5-PO2...............$ 492,274.95 $ 985.26
Class 5-M.................$ 7,292,803.70 $ 992.71
Class 5-B1................$ 4,861,869.15 $ 992.71
Class 5-B2................$ 3,646,402.34 $ 992.71
Class 5-B3................$ 2,430,934.55 $ 992.71
Class 5-B4................$ 729,280.27 $ 992.71
<PAGE>
Class 5-B5................$ 1,701,655.78 $ 992.71
Class 5-R.................$ 0.00 $ 0.00
Class 5-S1................$ 112,716,042.14 $ 845.25
Class 5-S2................$ 271,343,309.66 $ 831.94
vii) The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in lieu of
foreclosure or otherwise, of any REO Mortgage Loan:
book value...................................$ 0.00
unpaid principal balance.....................$ 0.00
number of related mortgage loans............. 0
viii)The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the month
preceding the related Determination Date, were:
(a) delinquent
(1) 30-59 days
Number * 20 Principal Balance $* 4,718,262.64
(2) 60-89 days
Number 5 Principal Balance $ 1,412,099.26
(3) 90 days or more
Number 2 Principal Balance $ 492,004.23
(b) in foreclosure
Number 5 Principal Balance $ 1,186,508.48
ix) The Scheduled Principal Balance of any Mortgage Loan replaced pursuant
to Section 2.03(b), and of any Modified Mortgage Loan purchased
pursuant to Section 3.01(c): .......................$ 0.00
x) The Certificate Interest Rates, applicable to the Interest Accrual
Period relating to such Distribution Date:
Class 5-S1: ........................ 0.443732%
Class 5-S2: ........................ 0.317681%
1. Senior Percentage for such Distribution Date: .... 95.12228400%
2. Category A-Senior Percentage for such Distribution
Date:............................................. 9.98784000%
3. Category B-Senior Percentage for such Distribution
Date:............................................. 85.13444400%
4. Category A-Percentage for such Distribution Date: 10.50000000%
<PAGE>
5. Category B-Percentage for such Distribution Date: 89.50000000%
6. Group I Senior Percentage for such Distribution
Date: ............................................ 45.33671800%
7. Category A-Group I Senior Percentage for such
Distribution Date: ............................... 7.66018700%
8. Category B-Group I Senior Percentage for such
Distribution Date: ............................... 37.67653100%
9. Group II Senior Percentage for such Distribution
Date: ............................................ 49.78556600%
10. Category A-Group II Senior Percentage for such
Distribution Date: ............................... 2.32765300%
11. Category B-Group II Senior Percentage for such
Distribution Date: ............................... 47.45791300%
12. Category B-Group I Scheduled Distribution
Percentage:....................................... 85.13444400%
13. Category B-Group II Scheduled Distribution
Percentage:....................................... 0.00000000%
14. Senior Prepayment Percentage for such Distribution
Date:............................................. 100.00000000%
15. Category A-Senior Prepayment Percentage
for such Distribution Date: ...................... 10.50000000%
16. Category B-Senior Prepayment Percentage
for such Distribution Date: ...................... 89.50000000%
17. Group I Senior Prepayment Percentage for such
Distribution Date: ............................... 100.00000000%
18. Category A-Group I Senior Prepayment Percentage
for such Distribution Date: ...................... 10.50000000%
19. Category B-Group I Senior Prepayment Percentage
for such Distribution Date: ...................... 89.50000000%
20. Group II Senior Prepayment Percentage for such
Distribution Date: ............................... 0.00000000%
21. Category A-Group II Senior Prepayment Percentage
for such Distribution Date: ...................... 0.00000000%
22. Category B-Group II Senior Prepayment Percentage
for such Distribution Date: ...................... 0.00000000%
23. Junior Percentage for such Distribution Date: .... 4.87771600%
24. Junior Prepayment Percentage for such Distribution
Date:............................................. 0.00000000%
25. Subordinate Certificate Writedown Amount for such
Distribution Date: ...............................$ 0.00
* Due to a large servicing transfer in September 1997, the number of
Mortgage Loans 30-59 days delinquent may be inflated due to borrowers sending
monthly paymnets to the wrong location or delays by the Company loading the
Mortgage Loans on its servicing system. It has also been the Company's
experience that for the majority of such Mortgage Loans the routing of
borrowers' monthly payments has corrected itself by the second Distribution Date
after transfer. However, the Company makes no assurances as to the level of
delinquent Mortgage Loans for future Distribution Dates.
Exhibit 99.13
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
March 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-6
Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
(a) Principal ...............................$ 242,781.33
(b) Interest ................................$ 2,247,568.17
(c) Total ...................................$ 2,490,349.50
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ...............................$ 242,781.33
(b) Interest ................................$ 2,192,020.43
(c) Total ...................................$ 2,434,801.76
3. Aggregate Principal Prepayments in part received and applied in prior
month: ........................................$ 81,926.02
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ...............................$ 18,224,819.74
(b) Interest ................................$ 106,066.97
(c) Total ...................................$ 18,330,886.71
<PAGE>
5. Aggregate Insurance Proceeds (including purchases of Mortgage Loans by
primary mortgage insurers) for prior month:
(a) Principal ...............................$ 0.00
(b) Interest ................................$ 0.00
(c) Total ...................................$ 0.00
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal ...............................$ 0.00
(b) Interest ................................$ 0.00
(c) Total ...................................$ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage Loans:
(a) Principal ...............................$ 0.00
(b) Interest ................................$ 0.00
(c) Total ...................................$ 0.00
8. Aggregate Purchase Prices ( and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal ..............................$ 0.00
(b) Interest ...............................$ 0.00
(c) Total ..................................$ 0.00
9. Pool Scheduled Principal Balance: ............$ 332,419,998.65
10. Available Funds: .............................$ 20,847,614.49
11. Realized Losses for prior month: ..............$ 0.00
12. Aggregate Realized Losses and Debt Service Reductions:
(a) Deficient Valuations: ......................$ 0.00
(b) Special Hazard Losses: .....................$ 0.00
(c) Fraud Losses: ..............................$ 0.00
(d) Excess Bankruptcy Losses: ..................$ 0.00
(e) Excess Special Hazard Losses: ..............$ 0.00
(f) Excess Fraud Losses: .......................$ 0.00
(g) Debt Service Reductions: ...................$ 0.00
13. Compensating Interest Payment: ................$ 14,369.50
<PAGE>
14. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 6-A1.......$ 279,286.02 $ 0.00 7.50000003%
Class 6-A2.......$ 169,700.00 $ 0.00 7.50000000%
Class 6-A3.......$ 50,093.75 $ 0.00 7.50000000%
Class 6-A4.......$ 354,301.57 $ 0.00 7.49999999%
Class 6-A5.......$ 37,506.91 $ 0.00 7.50000075%
Class 6-A6.......$ 203,304.30 $ 0.00 7.49999986%
Class 6-A7 ......$ 12,043.75 $ 0.00 7.50000000%
Class 6-A8 ......$ 123,153.98 $ 0.00 7.49999983%
Class 6-A9 ......$ 23,006.03 $ 0.00 7.49999959%
Class 6-A10 .....$ 44,763.48 $ 0.00 7.50000052%
Class 6-A11 .....$ 0.00 $ 0.00 0.00000000%
Component A11A ..$ 0.00 $ 0.00 0.00000000%
Component A11B ..$ 0.00 $ 0.00 0.00000000%
Class 6-A12 .....$ 338.45 $ 0.00 7.49995984%
Class 6-A13 .....$ 89,406.25 $ 0.00 7.50000000%
Class 6-A14 .....$ 0.00 $ 0.00 0.00000000%
Class 6-A15 .....$ 55,017.96 $ 0.00 7.49999966%
Class 6-A16 .....$ 120,535.80 $ 0.00 7.15000010%
Class 6-A17 .....$ 402,982.18 $ 0.00 7.24999991%
Class 6-A18 .....$ 118,777.61 $ 0.00 8.99999984%
Class 6-PO ......$ 0.00 $ 0.00 0.00000000%
Class 6-M........$ 37,371.95 $ 0.00 7.50000055%
Class 6-B1.......$ 24,914.63 $ 0.00 7.50000019%
Class 6-B2.......$ 18,685.97 $ 0.00 7.49999982%
Class 6-B3.......$ 12,457.30 $ 0.00 7.49999300%
Class 6-B4.......$ 3,737.19 $ 0.00 7.49999674%
Class 6-B5.......$ 8,720.08 $ 0.00 7.49993856%
Class 6-S........$ 107,101.94 $ 0.00 0.38694198%
Class 6-R........$ 0.00 $ 0.00 0.00000000%
15. Accrual Amount:
Class A11A Component $ 0.00
Class A11B Component $ 0.00
Class A14 Component $ 880.30
16. Principal distributable:
Class 6-A1.....$ 4,017,731.17 Class 6-A14...$ 0.00
Class 6-A2.....$ 0.00 Class 6-A15...$ 0.00
Class 6-A3.....$ 0.00 Class 6-A16...$ 1,818,875.40
Class 6-A4.....$ 39,201.87 Class 6-A17...$ 5,997,092.99
Class 6-A5.....$ 0.00 Class 6-A18...$ 1,423,918.14
Class 6-A6.....$ 3,818,275.20 Class 6-PO....$ 936.26
Class 6-A7.....$ 0.00 Class 6-M.....$ 4,135.04
Class 6-A8.....$ 13,626.43 Class 6-B1....$ 2,756.69
<PAGE>
Class 6-A9.....$ 0.00 Class 6-B2....$ 2,067.52
Class 6-A10....$ 1,408,153.70 Class 6-B3....$ 1,378.35
Class 6-A11....$ 0.00 Class 6-B4....$ 413.50
Component-A11A.$ 0.00 Class 6-B5....$ 964.83
Component-A11B.$ 0.00 Class 6-R.....$ 0.00
Class 6-A12....$ 880.30
Class 6-A13....$ 0.00
17. Additional distributions to the Class 6-R Certificate pursuant to
Section 4.01(b):..................................$ 0.00
18. Certificate Interest Rates of:
Class 6-S Certificates:..... 0.386942%
B. Other Amounts:
1. Senior Percentage for such Distribution Date: ........... 95.167143%
2. Category A-Senior Percentage for such Distribution Date: 68.265030%
3. Category B-Senior Percentage for such Distribution Date: 19.672740%
4. Category C-Senior Percentage for such Distribution Date: 7.229372%
5. Category A-Percentage for such Distribution Date: ....... 71.731722%
6. Category B-Percentage for such Distribution Date: ....... 20.671778%
7. Category C-Percentage for such Distribution Date: ....... 7.596500%
8. Group I Senior Percentage for such Distribution Date: ... 69.239060%
9. Category A-Group I Senior Percentage for such
Distribution Date: ...................................... 52.094153%
10. Category B-Group I Senior Percentage for such
Distribution Date: ...................................... 14.051801%
11. Category C-Group I Senior Percentage for such
Distribution Date: ...................................... 3.093106%
12. Category C-Group I Scheduled Distribution Percentage for
such Distribution Date: ................................. 7.229372%
13. Group II Senior Percentage for such Distribution Date: .. 25.928083%
<PAGE>
14. Category A-Group II Senior Percentage for such
Distribution Date: ...................................... 16,170877%
15. Category B-Group II Senior Percentage for such
Distribution Date: ...................................... 5.620939%
16. Category C-Group II Senior Percentage for such
Distribution Date: ...................................... 4.136266%
17. Category C-Group II Scheduled Distribution Percentage
for such Distribution Date: ............................. 0.000000%
18. Senior Prepayment Percentage for such Distribution Date:. 100.000000%
19. Category A-Senior Prepayment Percentage
for such Distribution Date: ............................. 71.731722%
20. Category B-Senior Prepayment Percentage
for such Distribution Date: ............................. 20.671778%
21. Category C-Senior Prepayment Percentage
for such Distribution Date: ............................. 7.596500%
22. Group I Senior Prepayment Percentage for such
Distribution Date: ...................................... 100.000000%
23. Category A-Group I Senior Prepayment Percentage for such
Distribution Date: ...................................... 71.731722%
24. Category B-Group I Senior Prepayment Percentage for such
Distribution Date: ...................................... 20.671778%
25. Category C-Group I Senior Prepayment Percentage for such
Distribution Date: ...................................... 7.596500%
26. Group II Senior Prepayment Percentage for such
Distribution Date: ...................................... 0.000000%
27. Category A-Group II Senior Prepayment Percentage for such
Distribution Date: ...................................... 0.000000%
28. Category B-Group II Senior Prepayment Percentage for such
Distribution Date: ...................................... 0.000000%
29. Category C-Group II Senior Prepayment Percentage for such
Distribution Date: ...................................... 0.000000%
30. Junior Percentage for such Distribution Date: ........... 4.832857%
31. Junior Prepayment Percentage for such Distribution Date: 0.000000%
32. Subordinate Certificate Writedown Amount for such
Distribution Date: ......................................$ 0.00
33. Prepayment Distribution Triggers satisfied:
YES NO
--- --
Class 6-B1....... X
Class 6-B2....... X
Class 6-B3....... X
Class 6-B4....... X
Class 6-B5....... X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
------------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.14
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
March 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-6
Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
(a) The amounts below (other than for Class R) are for a Single Certificate of
$1,000:
i) The amount of such distribution allocable to principal:
Class 6-A1........$ 72.51221032 Class 6-A13....$ 0.00000000
Class 6-A2........$ 0.00000000 Class 6-A14....$ 0.00000000
Class 6-A3........$ 0.00000000 Class 6-A15....$ 0.00000000
Class 6-A4........$ 0.68775211 Class 6-A16....$ 72.51221031
Class 6-A5........$ 0.00000000 Class 6-A17....$ 72.51221036
Class 6-A6........$ 93.98595053 Class 6-A18....$ 72.51221028
Class 6-A7........$ 0.00000000 Class 6-PO.....$ 2.23803434
Class 6-A8........$ 0.68775198 Class 6-M......$ 0.68775255
Class 6-A9........$ 0.00000000 Class 6-B1.....$ 0.68775178
Class 6-A10.......$ 132.32088522 Class 6-B2.....$ 0.68775267
Class 6-A11.......$ 0.00000000 Class 6-B3.....$ 0.68775444
Component A11A....$ 0.00000000 Class 6-B4.....$ 0.68774647
Component A11B....$ 0.00000000 Class 6-B5.....$ 0.68774113
Class 6-A12.......$ 14.43114754 Class 6-R......$ 0.00000000
ii) Principal Prepayments included in the above principal distribution
(including the Scheduled Principal Balances of all Defaulted Mortgage
Loans and Defective Mortgage Loans purchased pursuant to Section 2.02,
2.03 (b) or 3.16, respectively, and any amounts deposited pursuant to
Section 2.03(b) in connection with the substitution of any Mortgage
Loans pursuant to Section 2.02 or 2.03(a), the proceeds of which are
being distributed on such Distribution Date):
Class 6-A1........$ 71.60837858 Class 6-A14....$ 0.00000000
Class 6-A2........$ 0.00000000 Class 6-A15....$ 0.00000000
Class 6-A3........$ 0.00000000 Class 6-A16....$ 71.60837857
Class 6-A4........$ 0.67917959 Class 6-A17....$ 71.60837861
<PAGE>
Class 6-A5........$ 0.00000000 Class 6-A18....$ 71.60837854
Class 6-A6........$ 92.81445837 Class 6-PO.....$ 2.21013826
Class 6-A7........$ 0.00000000 Class 6-M......$ 0.00000000
Class 6-A8........$ 0.67917946 Class 6-B1.....$ 0.00000000
Class 6-A9........$ 0.00000000 Class 6-B2.....$ 0.00000000
Class 6-A10.......$ 130.67156553 Class 6-B3.....$ 0.00000000
Class 6-A11.......$ 0.00000000 Class 6-B4.....$ 0.00000000
Component A11A....$ 0.00000000 Class 6-B5.....$ 0.00000000
Component A11B....$ 0.00000000 Class 6-R......$ 0.00000000
Class 6-A12.......$ 14.25126984
Class 6-A13.......$ 0.00000000
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 6-A1........$ 5.04056786 Class 6-A15....$ 6.24999972
Class 6-A2........$ 6.25000000 Class 6-A16....$ 4.80534141
Class 6-A3........$ 6.25000000 Class 6-A17....$ 4.87254886
Class 6-A4........$ 6.21581702 Class 6-A18....$ 6.04868130
Class 6-A5........$ 6.25000062 Class 6-M......$ 6.21581749
Class 6-A6........$ 5.00428777 Class 6-B1.....$ 6.21581718
Class 6-A7........$ 6.25000000 Class 6-B2.....$ 6.21581686
Class 6-A8........$ 6.21581689 Class 6-B3.....$ 6.21581124
Class 6-A9........$ 6.24999966 Class 6-B4.....$ 6.21581434
Class 6-A10.......$ 4.20631874 Class 6-B5.....$ 6.21576615
Class 6-A11.......$ 0.00000000 Class 6-R......$ 0.00000000
Component A11A....$ 0.00000000 Class 6-S......$ 0.53440564
Component A11B....$ 0.00000000
Class 6-A12.......$ 5.54836066
Class 6-A13.......$ 6.25000000
Class 6-A14.......$ 0.00000000
iv) Accrual Amount:
Class A11A Component $ 0.00
Class A11B Component $ 0.00
Class A14 Component $ 880.30
v) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:......$ 75,161.22
(b) The amounts below are for the aggregate of all Certificates.
vi) The Pool Scheduled Principal Balances of each Mortgage Pool on the
preceding Due Date after giving effect to all distributions allocable
to principal made on such Distribution Date:........$ 332,419,998.65
<PAGE>
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:.................. 1,140
vii) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to (i) all distributions allocable to principal
made on such Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date:
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 6-A1...................$ 40,668,031.86 $ 733.98
Class 6-A2...................$ 27,152,000.00 $ 1,000.00
Class 6-A3...................$ 8,015,000.00 $ 1,000.00
Class 6-A4...................$ 56,649,049.44 $ 993.84
Class 6-A5...................$ 6,001,105.00 $ 1,000.00
Class 6-A6...................$ 28,710,413.39 $ 706.70
Class 6-A7...................$ 1,927,000.00 $ 1,000.00
Class 6-A8...................$ 19,691,010.82 $ 993.84
Class 6-A9...................$ 3,680,965.00 $ 1,000.00
Class 6-A10..................$ 5,754,002.60 $ 540.69
Class 6-A11..................$ 0.00 $ 0.00
Component A11A...............$ 0.00 $ 0.00
Component A11B...............$ 0.00 $ 0.00
Class 6-A12..................$ 53,271.99 $ 873.31
Class 6-A13..................$ 14,305,000.00 $ 1,000.00
Class 6-A14..................$ 141,728.01 $ 1,057.67
Class 6-A15..................$ 8,802,874.00 $ 1,000.00
Class 6-A16..................$ 18,410,908.94 $ 733.98
Class 6-A17..................$ 60,703,406.56 $ 733.98
Class 6-A18..................$ 14,413,096.80 $ 733.98
Class 6-PO...................$ 410,897.89 $ 982.21
Class 6-M....................$ 5,975,376.52 $ 993.84
Class 6-B1...................$ 3,983,584.01 $ 993.84
Class 6-B2...................$ 2,987,687.75 $ 993.84
Class 6-B3...................$ 1,991,791.51 $ 993.84
Class 6-B4...................$ 597,537.16 $ 993.84
Class 6-B5...................$ 1,394,259.40 $ 993.84
Class 6-R....................$ 0.00 $ 0.00
Class 6-S....................$ 313,634,898.95 $ 821.94
viii)The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in lieu of
foreclosure or otherwise, of any REO Mortgage Loan:
book value.....................................$ 0.00
unpaid principal balance.......................$ 0.00
number of related mortgage loans............... 0
<PAGE>
ix) The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the month
preceding the related Determination Date, were:
(a) delinquent
(1) 30-59 days
Number 9 Principal Balance $ 2,309,535.39
(2) 60-89 days
Number 1 Principal Balance $ 115,487.03
(3) 90 days or more
Number 0 Principal Balance $ 0.00
(b) in foreclosure
Number 0 Principal Balance $ 0.00
x) The Scheduled Principal Balance of any Mortgage Loan and number of
replaced pursuant to Section 2.03(b), and of any Modified Mortgage
Loan purchased pursuant to Section 3.01(c): ..............
$ 0.00 $ 0.00
xi) The Scheduled Principal Balance of any Mortgage Loan and number of any
Modified Mortgage Loan purchased pursuant to Section 3.01(c):
$ 0.00 $ 0.00
xii) The Certificate Interest Rates, applicable to the Interest Accrual
Period relating to such Distribution Date:
Class 6-S: ........................ 0.386942%
xiii) Senior Percentage for such Distribution Date:........... 95.16714300%
xiv) Category A-Senior Percentage for such Distribution Date: 68.26503000%
xv) Category B-Senior Percentage for such Distribution Date: 19.67274000%
xvi) Category C-Senior Percentage for such Distribution Date: 7.22937200%
xvii) Category A-Percentage for such Distribution Date: ...... 71.73172200%
xviii)Category B-Percentage for such Distribution Date: ...... 20.67177800%
xix) Category C-Percentage for such Distribution Date: ...... 7.59650000%
xx) Group I Senior Percentage for such Distribution Date: .. 69.23906000%
xxi) Category A-Group I Senior Percentage for such
Distribution Date: ..................................... 52.09415300%
<PAGE>
xxii) Category B-Group I Senior Percentage for such
Distribution Date: ..................................... 14.05180100%
xxiii) Category C-Group I Senior Percentage for such
Distribution Date: ..................................... 3.09310600%
xxiv) Category C-Group I Scheduled Distribution Percentage
for such Distribution Date: ............................ 7.22937200%
xxv) Group II Senior Percentage for such Distribution Date: . 25.92808300%
xxvi) Category A-Group II Senior Percentage for such
Distribution Date: ..................................... 16.17087700%
xxvii) Category B-Group II Senior Percentage for such
Distribution Date: ..................................... 5.62093900%
xxviii) Category C-Group II Senior Percentage for such
Distribution Date: ..................................... 4.13626600%
xxix) Category C-Group II Scheduled Distribution Percentage
for such Distribution Date: ............................ 0.00000000%
xxx) Senior Prepayment Percentage for such Distribution Date:100.00000000%
xxxi) Category A-Senior Prepayment Percentage
for such Distribution Date: ............................ 71.73172200%
xxxii) Category B-Senior Prepayment Percentage
for such Distribution Date: ............................ 20.67177800%
xxxiii) Category C-Senior Prepayment Percentage
for such Distribution Date: ............................ 7.59650000%
xxxiv) Group I Senior Prepayment Percentage for such
Distribution Date: .....................................100.00000000%
xxxv) Category A-Group I Senior Prepayment Percentage for such
Distribution Date: ..................................... 71.73172200%
xxxvi) Category B-Group I Senior Prepayment Percentage for such
Distribution Date: ..................................... 20.67177800%
xxxvii) Category C-Group I Senior Prepayment Percentage for such
Distribution Date: ..................................... 7.59650000%
xxxviii) Group II Senior Prepayment Percentage for such
Distribution Date: ..................................... 0.00000000%
xxxix) Category A-Group II Senior Prepayment Percentage for such
Distribution Date: ..................................... 0.00000000%
xxxx) Category B-Group II Senior Prepayment Percentage for such
Distribution Date: ..................................... 0.00000000%
xxxxi) Category C-Group II Senior Prepayment Percentage for such
Distribution Date: ..................................... 0.00000000%
xxxxii) Junior Percentage for such Distribution Date: .......... 4.83285700%
xxxxiii)Junior Prepayment Percentage for such Distribution Date: 0.00000000%
Exhibit 99.15
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
MARCH 1998
Home Equity Loan Pass-Through Certificates
Series 1997-HE2
Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company"),
and The First National Bank of Chicago (the "Trustee"), governing the
Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
(1) Aggregate Monthly Payments Due: $ 2,138,736.60
(2) Aggregate Monthly Payments received and Monthly Advances made this
Month:
(a) Principal $ 298,180.39
(b) Interest $ 1,779,639.75
(c) Total $ 2,077,820.14
(3) Aggregate Principal Prepayments in part received on Self- Amortizing
Mortgage Loans and applied in the applicable Prepayment Period:
(a) Principal $ 169,855.91
(c) Total $ 169,855.91
(4) Aggregate Principal Prepayments in full received in the applicable
Prepayment period:
(a) Principal $ 5,562,169.02
(b) Interest $ 60,662.96
(c) Total $ 5,622,831.98
(5) Aggregate Insurance Proceeds (inculding purchases of Mortgage Loans by
primary mortgage insurers) for prior month:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(6) Aggregate Liquidation Proceeds for prior month:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(7) Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(8) Aggregate Purchase Prices for (and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
<PAGE>
(9) Aggregate Purchase Prices for for Document Deficiencies per Sec. 2.02:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(10) Pool Principal Balance: $ 225,769,776.14
(11) Available Funds: $ 7,769,379.51
(12) Realized Losses for prior month: $ 0.00
(13) Aggregate Realized Losses: $ 0.00
(a) Deficient Valuations $ 0.00
(b) Special Hazard Losses $ 0.00
(c) Fraud Losses $ 0.00
(d) Excess Bankruptcy Losses $ 0.00
(e) Excess Special Hazard Losses $ 0.00
(f) Excess Fraud Losses $ 0.00
(14) Compensating Interest Payment: $ 6,131.51
(15) Net Simple Interest Shortfall: $ (0.00)
(16) Net Simple Interest Excess: $ 0.00
(17) Simple Interest Shortfall Payment: $ (0.00)
(18) Unpaid Net Simple Interest Shortfall:
Class A1 36157RAA3 $ 0.00
Class A2 36157RAB1 $ 0.00
Class A3 36157RAC9 $ 0.00
Class A4 36157RAD7 $ 0.00
Class A5 36157RAE5 $ 0.00
Class A6 36157RAF2 $ 0.00
Class A7 36157RAG0 $ 0.00
Class S 36197HE2S $ 0.00
Class M 36157RAH8 $ 0.00
Class B1 36157RAJ4 $ 0.00
Class B2 36157RAK1 $ 0.00
Class B3 36157RAL9 $ 0.00
Class B4 36157RAM7 $ 0.00
Class B5 36157RAN5 $ 0.00
(19) Class Certificate Interest Rate:
Class M 36157RAH8 7.410%
Class B1 36157RAJ4 7.585%
Class B2 36157RAK1 7.925%
Class B3 36157RAL9 9.244%
Class B4 36157RAM7 9.244%
Class B5 36157RAN5 9.244%
Class S 36197HE2S 2.17%
(20) Accrued Certificate Interest and Pay-out Rate:
Class A1 36157RAA3 $ 271,556.20 6.740%
Class A2 36157RAB1 $ 236,637.08 6.745%
Class A3 36157RAC9 $ 125,259.17 6.895%
Class A4 36157RAD7 $ 178,770.00 7.080%
Class A5 36157RAE5 $ 82,028.75 7.185%
Class A6 36157RAF2 $ 169,316.94 7.485%
Class A7 36157RAG0 $ 133,072.80 7.120%
Class S 36197HE2S $ 408,451.01 2.17%
Class M 36157RAH8 $ 37,323.53 7.410%
Class B1 36157RAJ4 $ 38,204.99 7.585%
Class B2 36157RAK1 $ 11,977.87 7.925%
Class B3 36157RAL9 $ 18,625.95 9.244%
Class B4 36157RAM7 $ 13,971.37 9.244%
Class B5 36157RAN5 $ 13,978.54 9.244%
Total $ 1,739,174.20
<PAGE>
(21) Principal distributable:
Class A1 36157RAA3 $ 6,003,858.80
Class A2 36157RAB1 $ 0.00
Class A3 36157RAC9 $ 0.00
Class A4 36157RAD7 $ 0.00
Class A5 36157RAE5 $ 0.00
Class A6 36157RAF2 $ 0.00
Class A7 36157RAG0 $ 0.00
Class M 36157RAH8 $ 7,982.87
Class B1 36157RAJ4 $ 7,982.87
Class B2 36157RAK1 $ 2,395.38
Class B3 36157RAL9 $ 3,193.41
Class B4 36157RAM7 $ 2,395.38
Class B5 36157RAN5 $ 2,396.61
Class R1 36157RAP0 $ 0.00
Class R2 36157RAQ8 $ 0.00
Total $ 6,030,205.32
(22) Additional distributions to the Class R1 Certificate pursuant to
Section 2.05 (d) : $ 0.00
(23) Additional distributions to the Class R2 Certificate pursuant to
Section 4.01 (b) : $ 0.00
B. Other Amounts:
(1) Senior Percentage for such Distribution Date: 91.164233%
(2) Senior Prepayment Percentage for such Distribution Date: 100.00%
(3) Junior Percentage for such Distribution Date: 8.835767%
(4) Junior Prepayment Percentage for such Distribution
Date: 0.00%
(5) Subordinate Certfificate Writedown Amount for such
Distribution Date: $ 0.00
(6) Prepayment Distribution Triggers satisfied:
Yes No
--- --
Class B1 X
Class B2 X
Class B3 X
Class B4 X
Class B5 X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
------------------------------------
Name: Karen Pickett
Title: Vice President,
Investor Operations
Exhibit 99.16
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
MARCH 1998
Home Equity Loan Pass-Through Certificates
Series 1997-HE2
Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company"),
and The First National Bank of Chicago (the "Trustee"), governing the
Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
The amounts below are for a Single Certificate of $1,000:
(1) Amount of distribution allocable to principal:
Class A1 36157RAA3 $ 89.87812569
Class A2 36157RAB1 $ 0.00000000
Class A3 36157RAC9 $ 0.00000000
Class A4 36157RAD7 $ 0.00000000
Class A5 36157RAE5 $ 0.00000000
Class A6 36157RAF2 $ 0.00000000
Class A7 36157RAG0 $ 0.00000000
Class M 36157RAH8 $ 1.30609759
Class B1 36157RAJ4 $ 1.30609759
Class B2 36157RAK1 $ 1.30609759
Class B3 36157RAL9 $ 1.30609759
Class B4 36157RAM7 $ 1.30609759
Class B5 36157RAN5 $ 1.30609759
Class R1 36157RAP0 $ 0.00000000
Class R2 36157RAQ8 $ 0.00000000
(2) Aggregate Principal prepayments included in distribution:
Class A1 36157RAA3 $ 5,732,024.93
Class A2 36157RAB1 $ 0.00
Class A3 36157RAC9 $ 0.00
Class A4 36157RAD7 $ 0.00
Class A5 36157RAE5 $ 0.00
Class A6 36157RAF2 $ 0.00
Class A7 36157RAG0 $ 0.00
Class M 36157RAH8 $ 0.00
Class B1 36157RAJ4 $ 0.00
Class B2 36157RAK1 $ 0.00
Class B3 36157RAL9 $ 0.00
Class B4 36157RAM7 $ 0.00
Class B5 36157RAN5 $ 0.00
Class R1 36157RAP0 $ 0.00
Class R2 36157RAQ8 $ 0.00
(3) Amount of distribution allocable to interest Pay-out Rate:
Class A1 36157RAA3 $ 4.06521259 6.740%
Class A2 36157RAB1 $ 5.62083333 6.745%
Class A3 36157RAC9 $ 5.74583333 6.895%
Class A4 36157RAD7 $ 5.90000000 7.080%
Class A5 36157RAE5 $ 5.98750000 7.185%
Class A6 36157RAF2 $ 6.23750000 7.485%
Class A7 36157RAG0 $ 5.93333333 7.120%
Class S 36197HE2S $ 1.80914833 2.17%
Class M 36157RAH8 $ 6.10659778 7.410%
Class B1 36157RAJ4 $ 6.25081567 7.585%
Class B2 36157RAK1 $ 6.53101044 7.925%
Class B3 36157RAL9 $ 7.61797661 9.244%
Class B4 36157RAM7 $ 7.61797661 9.244%
Class B5 36157RAN5 $ 7.61797661 9.244%
<PAGE>
(4) Servicing Compensation: $ 121,479.30
The amounts below are for the aggregate of all Certificates:
(5) Pool Principal Balance; $ 225,769,776.14
number of Mortgage Loans: 3,178
(6) Class Certificate Principal Balance of each Class; Certificate
Principal Balance of Single Certificate of each class:
Single
Certificate
Class Cusip# Class Balance Balance
----- ------ ------------- -------
Class A1 36157RAA3 $ 42,344,426.21 $ 633.89859600
Class A2 36157RAB1 $ 42,100,000.00 $ 1,000.00000000
Class A3 36157RAC9 $ 21,800,000.00 $ 1,000.00000000
Class A4 36157RAD7 $ 30,300,000.00 $ 1,000.00000000
Class A5 36157RAE5 $ 13,700,000.00 $ 1,000.00000000
Class A6 36157RAF2 $ 27,145,000.00 $ 1,000.00000000
Class A7 36157RAG0 $ 22,428,000.00 $ 1,000.00000000
Class M 36157RAH8 $ 6,036,312.78 $ 987.61661918
Class B1 36157RAJ4 $ 6,036,312.78 $ 987.61661918
Class B2 36157RAK1 $ 1,811,288.88 $ 987.61661918
Class B3 36157RAL9 $ 2,414,722.63 $ 987.61661918
Class B4 36157RAM7 $ 1,811,288.88 $ 987.61661918
Class B5 36157RAN5 $ 1,812,218.66 $ 987.61661918
Class R1 36157RAP0 $ 0.00 $ 0.00000000
Class R2 36157RAQ8 $ 0.00 $ 0.00000000
(7) Book value of real estate acquired on behalf of Certificate-
holders; $ 69,476.56
number of related Mortgage Loans: 1
(8) Aggregate Scheduled Principal Balance and number of delinquent
Mortgage Loans:
One Payment Delinquent $ 2,917,920.46
33
Two Payments Delinquent $ 1,110,000.27
16
Three or more Payments Delinquent $ 168,087.28
3
TOTAL $ 4,196,008.01
52
In foreclosure $ 2,405,651.27
32
(9) Aggregate Scheduled Principal Balance and number of replaced Mortgage
Loans: $ 0.00
0
(10) Unpaid Net Simple Interest Shortfall:
Class A1 36157RAA3 $ 0.00
Class A2 36157RAB1 $ 0.00
Class A3 36157RAC9 $ 0.00
Class A4 36157RAD7 $ 0.00
Class A5 36157RAE5 $ 0.00
Class A6 36157RAF2 $ 0.00
Class A7 36157RAG0 $ 0.00
Class S 36197HE2S $ 0.00
Class M 36157RAH8 $ 0.00
Class B1 36157RAJ4 $ 0.00
Class B2 36157RAK1 $ 0.00
Class B3 36157RAL9 $ 0.00
Class B4 36157RAM7 $ 0.00
Class B5 36157RAN5 $ 0.00
<PAGE>
(11) Class Certificate Interest Rate of:
Class M 36157RAH8 7.410%
Class B1 36157RAJ4 7.585%
Class B2 36157RAK1 7.925%
Class B3 36157RAL9 9.244%
Class B4 36157RAM7 9.244%
Class B5 36157RAN5 9.244%
Class S 36197HE2S 2.17%
(12) Senior Percentage for such Distribution Date: 91.164233%
(13) Senior Prepayment Percentage for such Distribution
Date: 100.000000%
(14) Junior Percentage for such Distribution Date: 8.835767%
(15) Junior Prepayment Percentage for such Distribution
Date: 0.000000%
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
----------------------------------------
Name: Karen Pickett
Title: Vice President,
Investor Operations
Exhibit 99.17
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
March 1998
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 ................................$ 214,670.94
(b) Interest .................................$ 2,012,631.20
(c) Total ....................................$ 2,227,302.14
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ................................$ 214,670.94
(b) Interest .................................$ 1,964,659.77
(c) Total ....................................$ 2,179,330.71
3. Aggregate Principal Prepayments in part received and applied in prior
month: .........................................$ 140,443.65
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ................................$ 13,366,611.69
(b) Interest .................................$ 73,778.09
(c) Total ....................................$ 13,440,389.78
<PAGE>
5. Aggregate Insurance Proceeds for prior month:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage Loans:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
8. Aggregate Purchase Prices ( and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
9. Pool Scheduled Principal Balance: .............$ 295,589,548.14
10. Available Funds: ..............................$ 15,760,164.14
11. Realized Losses for prior month: ...............$ 0.00
12. Aggregate Realized Losses:
(a) Deficient Valuations: ......................$ 0.00
(b) Special Hazard Losses: .....................$ 0.00
(c) Fraud Losses: ..............................$ 0.00
(d) Excess Bankruptcy Losses: ..................$ 0.00
(e) Excess Special Hazard Losses: ..............$ 0.00
(f) Excess Fraud Losses: .......................$ 0.00
(g) Debt Service Reductions: ...................$ 0.00
13. Non-Credit Losses: .............................$ 0.00
14. Compensating Interest Payment: .................$ 15,356.02
15. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 7-A1......$ 192,796.80 $ 0.00 9.00000003%
Class 7-A2......$ 27,745.56 $ 0.00 7.20000125%
Class 7-A3......$ 728,222.02 $ 0.00 7.14999996%
Class 7-A4......$ 87,101.40 $ 0.00 7.12499965%
Class 7-A5......$ 208,225.23 $ 0.00 8.00000012%
Class 7-A6......$ 71,426.62 $ 0.00 7.12499972%
Class 7-A7......$ 24,230.40 $ 0.00 7.50000116%
Class 7-A8......$ 17,250.00 $ 0.00 7.50000000%
Class 7-A9......$ 0.00 $ 0.00 0.00000000%
Class 7-A10.....$ 66,666.67 $ 0.00 8.00000040%
Class 7-A11.....$ 250,000.00 $ 0.00 7.50000000%
Class 7-A12.....$ 120,833.33 $ 0.00 7.24999980%
Class 7-M.......$ 32,680.20 $ 0.00 7.49999887%
Class 7-B1......$ 21,786.80 $ 0.00 7.49999888%
Class 7-B2......$ 16,340.10 $ 0.00 7.50000026%
Class 7-B3......$ 10,893.40 $ 0.00 7.49999884%
Class 7-B4......$ 3,268.01 $ 0.00 7.49998881%
Class 7-B5......$ 7,625.38 $ 0.00 7.49998580%
Class 7-S.......$ 106,951.34 $ 0.00 0.43260600%
Class 7-R.......$ 0.00 $ 0.00 0.00000000%
<PAGE>
16. Accrual Amount:
Class 7-A9.................... $ 44,394.6
17. Principal distributable:
Class 7-A1......$ 1,958,741.42 Class 7-A11....$ 0.00
Class 7-A2......$ 352,355.23 Class 7-A12....$ 0.00
Class 7-A3......$ 9,312,741.83 Class 7-PO.....$ 256.50
Class 7-A4......$ 704,710.52 Class 7-M......$ 3,628.16
Class 7-A5......$ 1,382,640.99 Class 7-B1.....$ 2,418.77
Class 7-A6......$ 0.00 Class 7-B2.....$ 1,814.08
Class 7-A7......$ 44,394.60 Class 7-B3.....$ 1,209.39
Class 7-A8......$ 0.00 Class 7-B4.....$ 362.82
Class 7-A9......$ 0.00 Class 7-B5.....$ 846.57
Class 7-A10.....$ 0.00 Class 7-R......$ 0.00
18. Additional distributions to the Class 7-R Certificate:
pursuant to Section 4.01(b): ........................$ 0.00
pursuant to Section 2.05(d): ........................$ 0.00
19. Certificate Interest Rate of:
Class 7-S Certificates:.......... 0.432606%
B. Other Amounts:
1. Senior Percentage for such Distribution Date: ........... 95.206100%
2. Senior Prepayment Percentage for such Distribution Date: 100.000000%
3. Junior Percentage for such Distribution Date: ........... 4.793900%
4. Junior Prepayment Percentage for such Distribution Date: 0.000000%
5. Subordinate Certificate Writedown Amount for such
Distribution Date: ......................................$ 0.00
6. Prepayment Distribution Triggers satisfied:
YES NO
--- --
Class 7-B1........ X
Class 7-B2........ X
Class 7-B3........ X
Class 7-B4........ X
Class 7-B5........ X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
--------------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.18
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
March 1998
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) The amounts below are for a Single Certificate of $1,000:
i) The amount of such distribution allocable to principal:
Class 7-A1....$ 62.09778081 Class 7-A11....$ 0.00000000
Class 7-A2....$ 62.09778119 Class 7-A12....$ 0.00000000
Class 7-A3....$ 62.09782214 Class 7-PO.....$ 0.90963347
Class 7-A4....$ 42.02311660 Class 7-M......$ 0.69059152
Class 7-A5....$ 39.10875166 Class 7-B1.....$ 0.69059057
Class 7-A6....$ 0.00000000 Class 7-B2.....$ 0.69059166
Class 7-A7....$ 10.62071770 Class 7-B3.....$ 0.69059343
Class 7-A8....$ 0.00000000 Class 7-B4.....$ 0.69060032
Class 7-A9....$ 0.00000000 Class 7-B5.....$ 0.69058977
Class 7-A10...$ 0.00000000 Class 7-R......$ 0.00000000
ii) Principal Prepayments included in the above principal distribution
(including the Scheduled Principal Balances of all Defaulted Mortgage
Loans and Defective Mortgage Loans purchased pursuant to Section 2.02,
2.03(b) or 3.16, respectively, and any amounts deposited pursuant to
Section 2.03(b) in connection with the substitution of any Mortgage
Loans pursuant to Section 2.02 or 2.03(a), the proceeds of which are
being distributed on such Distribution Date):
Class 7-A1....$ 61.17211357 Class 7-A8.....$ 0.00000000
Class 7-A2....$ 61.17211395 Class 7-A9.....$ 0.00000000
Class 7-A3....$ 61.17215429 Class 7-10.....$ 0.00000000
Class 7-A4....$ 41.39669450 Class 7-11.....$ 0.00000000
Class 7-A5....$ 38.52577285 Class 7-12.....$ 0.00000000
Class 7-A6....$ 0.00000000 Class 7-PO.....$ 0.89607392
Class 7-A7....$ 10.46239883 Class 7-M......$ 0.00000000
<PAGE>
Class 7-B1....$ 0.00000000 Class 7-B4.....$ 0.00000000
Class 7-B2....$ 0.00000000 Class 7-B5.....$ 0.00000000
Class 7-B3....$ 0.00000000 Class 7-R......$ 0.00000000
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest; Pay-out Rate:
Class 7-A1....$ 6.11221742 Class 7-M.....$ 6.22041727
Class 7-A2....$ 4.88977477 Class 7-B1....$ 6.22041727
Class 7-A3....$ 4.85582037 Class 7-B2....$ 6.22041846
Class 7-A4....$ 5.19400830 Class 7-B3....$ 6.22041727
Class 7-A5....$ 5.88976377 Class 7-B4....$ 6.22040889
Class 7-A6....$ 5.93749977 Class 7-B5....$ 6.22040636
Class 7-A7....$ 5.79674641 Class 7-R.....$ 0.00000000
Class 7-A8....$ 6.25000000 Class 7-S.....$ 0.31743844
Class 7-A9....$ 0.00000000
Class 7-A10...$ 6.66666700
Class 7-A11...$ 6.25000000
Class 7-A12...$ 6.04166650
iv) Accrual Amount:
Class 7-A9........... $ 44,394.60
v) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:........$ 0.19687545
(b) The amounts below are for the aggregate of all Certificates.
vi) The Pool Scheduled Principal Balances of each Mortgage Pool on the
preceding Due Date after giving effect to all distributions allocable
to principal made on such Distribution Date:..........$ 295,589,548.14
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:.................... 1,062
vii) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to (i) all distributions allocable to principal
made on such Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date:
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 7-A1........ $ 23,747,498.50 $ 752.86
Class 7-A2........ $ 4,271,903.97 $ 752.86
Class 7-A3........ $ 112,906,339.09 $ 752.87
Class 7-A4........ $ 13,964,999.68 $ 832.76
Class 7-A5........ $ 29,851,143.04 $ 844.36
<PAGE>
Class 7-A6........ $ 12,029,747.00 $ 1,000.00
Class 7-A7........ $ 3,832,468.80 $ 916.86
Class 7-A8........ $ 2,760,000.00 $ 1,000.00
Class 7-A9........ $ 7,147,531.20 $ 1,051.11
Class 7-A10....... $ 10,000,000.00 $ 1,000.00
Class 7-A11....... $ 40,000,000.00 $ 1,000.00
Class 7-A12....... $ 20,000,000.00 $ 1,000.00
Class 7-PO....... $ 273,169.67 $ 968.75
Class 7-M......... $ 5,225,204.63 $ 994.58
Class 7-B1........ $ 3,483,469.75 $ 994.58
Class 7-B2........ $ 2,612,601.83 $ 994.58
Class 7-B3........ $ 1,741,734.88 $ 994.58
Class 7-B4........ $ 522,519.56 $ 994.58
Class 7-B5........ $ 1,219,216.54 $ 994.58
Class 7-S......... $ 282,960,425.62 $ 839.84
Class 7-R......... $ 0.00 $ 0.00
viii)The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in lieu of
foreclosure or otherwise, of any REO Mortgage Loan:
book value........................................$ 0.00
unpaid principal balance..........................$ 0.00
number of related mortgage loans.................. 0
ix) The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the month
preceding the related Determination Date, were:
(a) delinquent
(1) 30-59 days
Number 7 Principal Balance $ 1,660,377.79
(2) 60-89 days
Number 3 Principal Balance $ 691,307.43
(3) 90 days or more
Number 1 Principal Balance $ 243,618.23
(b) in foreclosure
Number 1 Principal Balance $ 224,462.87
x) The Scheduled Principal Balance of any Mortgage Loan replaced pursuant
to Section 2.03(b), and of any Modified Mortgage Loan purchased
pursuant to Section 3.01(c): ........................$ 0.00
xi) The Senior Percentage for such Distribution Date: ... 95.206100%
The Junior Percentage for such Distribution Date: ... 4.793900%
xii) The Senior Prepayment Percentage for such Distribution
Date:................................................ 100.000000%
The Junior Prepayment Percentage for such Distribution
Date: ............................................... 0.000000%
Exhibit 99.19
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
March 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-8
Pursuant to the Pooling and Servicing Agreement dated as of September 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 ................................$ 325,927.30
(b) Interest .................................$ 2,851,607.11
(c) Total ....................................$ 3,177,534.41
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ................................$ 325,927.30
(b) Interest .................................$ 2,773,213.14
(c) Total ....................................$ 3,099,140.44
3. Aggregate Principal Prepayments in part received and applied in prior
month: .........................................$ 130,497.45
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ................................$ 13,158,834.29
(b) Interest .................................$ 71,557.35
(c) Total ....................................$ 13,230,391.64
5. Aggregate Insurance Proceeds (including purchases of Mortgage Loans by
primary mortgage insurers) for prior month:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage Loans:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
8. Aggregate Purchase Prices ( and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
<PAGE>
9. Pool Scheduled Principal Balance: .............$ 437,392,806.59
10. Available Funds: ..............................$ 16,460,029.53
11. Realized Losses for prior month: ...............$ 0.00
12. Aggregate Realized Losses and Debt Service Reductions:
(a) Deficient Valuations: .......................$ 0.00
(b) Special Hazard Losses: ......................$ 0.00
(c) Fraud Losses: ...............................$ 0.00
(d) Excess Bankruptcy Losses: ...................$ 0.00
(e) Excess Special Hazard Losses: ...............$ 0.00
(f) Excess Fraud Losses: ........................$ 0.00
(g) Debt Service Reductions: ....................$ 0.00
13. Compensating Interest Payment: .................$ 13,920.83
14. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 8-A1........$ 111,755.62 $ 0.00 7.25000020%
Class 8-A2........$ 71,193.41 $ 0.00 7.24999968%
Class 8-A3........$ 164,767.50 $ 0.00 6.75000000%
Class 8-A4........$ 73,861.88 $ 0.00 6.75000046%
Class 8-A5........$ 104,917.50 $ 0.00 6.75000000%
Class 8-A6........$ 132,324.58 $ 0.00 7.24999982%
Class 8-A7 .......$ 590,245.51 $ 0.00 7.25000005%
Class 8-A8 .......$ 290,110.92 $ 0.00 7.25000002%
Class 8-A9 .......$ 0.00 $ 0.00 0.00000000%
Class 8-A10 ......$ 0.00 $ 0.00 0.00000000%
Class 8-A11 ......$ 130,373.12 $ 0.00 7.24999972%
Class 8-A12 ......$ 25,447.91 $ 0.00 7.24999887%
Class 8-A13 ......$ 179,570.42 $ 0.00 7.25000013%
Class 8-A14 ......$ 33,233.34 $ 0.00 6.84999960%
Class 8-A15 ......$ 10,430.90 $ 0.00 8.90713903%
Class 8-A16 ......$ 394,850.02 $ 0.00 7.25000009%
Class 8-A17 ......$ 178,125.00 $ 0.00 7.12500000%
Class 8-A18 ......$ 1,625.00 $ 0.00 0.06500000%
Class 8-A19 ......$ 1,500.00 $ 0.00 0.06000000%
Class 8-M.........$ 46,766.02 $ 0.00 7.24999979%
Class 8-B1........$ 28,662.85 $ 0.00 7.24999970%
Class 8-B2........$ 22,630.43 $ 0.00 7.24998785%
Class 8-B3........$ 15,086.94 $ 0.00 7.24998148%
Class 8-B4........$ 4,525.45 $ 0.00 7.24993341%
Class 8-B5........$ 10,559.91 $ 0.00 7.24998043%
Class 8-R.........$ 0.25 $ 0.00 7.14455823%
Class 8-RL........$ 0.25 $ 0.00 7.14455823%
Class 8-S.........$ 122,695.53 $ 0.00 0.34764098%
15. Accrual Amount:
Class A9 Certificate $ 26,468.40
Class A10 Certificate $ 73,041.83
<PAGE>
16. Principal distributable:
Class 8-A1.....$ 13,365.27 Class 8-A15...$ 1,405,286.25
Class 8-A2.....$ 391,225.59 Class 8-A16...$ 3,389,994.11
Class 8-A3.....$ 0.00 Class 8-A17...$ 0.00
Class 8-A4.....$ 0.00 Class 8-A18...$ 0.00
Class 8-A5.....$ 0.00 Class 8-A19...$ 0.00
Class 8-A6.....$ 0.00 Class 8-PO....$ 444.15
Class 8-A7.....$ 787,870.84 Class 8-M.....$ 5,592.93
Class 8-A8.....$ 1,889,343.66 Class 8-B1....$ 3,427.90
Class 8-A9.....$ 0.00 Class 8-B2....$ 2,706.46
Class 8-A10....$ 0.00 Class 8-B3....$ 1,804.31
Class 8-A11....$ 0.00 Class 8-B4....$ 541.22
Class 8-A12....$ 0.00 Class 8-B5....$ 1,262.90
Class 8-A13....$ 0.00 Class 8-R.....$ 2.18
Class 8-A14....$ 5,821,899.32 Class 8-RL....$ 2.18
17. Additional distributions to the Class 8-R Certificate pursuant to
Sections 2.05(c) and 4.01(b):....................$ 0.00
18. Additional distributions to the Class 8-RL Certificate pursuant to
Sections 2.05(d):................................$ 0.00
19. Certificate Interest Rates of:
Class A14 Certificates:... 6.850000%
Class A15 Certificates:... 8.907139%
Class S Certificates:..... 0.347641%
20. Draw Amount:
Class A9 Certificate $ 0.00
21. Distributions of amounts in Reserve Fund to Senior Certificates (other
than the Class PO Certificates) and the Class S Certificates pursuant
to the second paragraph of Section 4.01 (g): :
Class A1 Certificates:....$ 0.00
Class A2 Certificates:....$ 0.00
Class A3 Certificates:....$ 0.00
Class A4 Certificates:....$ 0.00
Class A5 Certificates:....$ 0.00
Class A6 Certificates:....$ 0.00
Class A7 Certificates:....$ 0.00
Class A8 Certificates:....$ 0.00
Class A9 Certificates:....$ 0.00
Class A10 Certificates:...$ 0.00
Class A11 Certificates:...$ 0.00
Class A12 Certificates:...$ 0.00
Class A13 Certificates:...$ 0.00
Class A14 Certificates:...$ 0.00
Class A15 Certificates:...$ 0.00
Class A16 Certificates:...$ 0.00
Class A17 Certificates:...$ 0.00
Class A18 Certificates:...$ 0.00
Class A19 Certificates:...$ 0.00
Class R Certificates:.....$ 0.00
Class RL Certificates:....$ 0.00
Class S Certificates:.....$ 0.00
<PAGE>
B. Other Amounts:
1. Senior Percentage for such Distribution Date: ............. 95.289191%
2. Category B-Group I Senior Percentage for such Distribution
Date: ..................................................... 88.873788%
3. Category B-Group II Senior Percentage for such Distribution
Date: ..................................................... 11.000000%
4. Senior Prepayment Percentage for such Distribution Date:... 100.000000%
5. Category B-Group I Senior Prepayment Percentage for
such Distribution Date: ................................... 100.000000%
6. Junior Percentage for such Distribution Date: ............. 4.710809%
7. Junior Prepayment Percentage for such Distribution Date: .. 0.000000%
8. Subordinate Certificate Writedown Amount for such
Distribution Date: ........................................$ 0.00
9. Prepayment Distribution Triggers satisfied:
YES NO
--- --
Class 8-B1....... X
Class 8-B2....... X
Class 8-B3....... X
Class 8-B4....... X
Class 8-B5....... X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
-----------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.20
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
March 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-8
Pursuant to the Pooling and Servicing Agreement dated as of September 1,
1997 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company") and State Street Bank and Trust Company (the "Trustee"), governing
the Certificates referred to above, the Company hereby certifies to the Trustee:
(a) The amounts below (other than for Class R) are for a Single Certificate of
$1,000:
i) The amount of such distribution allocable to principal:
Class 8-A1.....$ 0.71999515 Class 8-A15.....$ 207.63001603
Class 8-A2.....$ 29.32945423 Class 8-A16.....$ 43.56036732
Class 8-A3.....$ 0.00000000 Class 8-A17.....$ 0.00000000
Class 8-A4.....$ 0.00000000 Class 8-A18.....$ 0.00000000
Class 8-A5.....$ 0.00000000 Class 8-A19.....$ 0.00000000
Class 8-A6.....$ 0.00000000 Class 8-PO......$ 0.96281741
Class 8-A7.....$ 7.91082636 Class 8-M.......$ 0.71999614
Class 8-A8.....$ 34.35170291 Class 8-B1......$ 0.71999580
Class 8-A9.....$ 0.00000000 Class 8-B2......$ 0.71999468
Class 8-A10....$ 0.00000000 Class 8-B3......$ 0.71999601
Class 8-A11....$ 0.00000000 Class 8-B4......$ 0.71999468
Class 8-A12....$ 0.00000000 Class 8-B5......$ 0.71999383
Class 8-A13....$ 0.00000000 Class 8-R.......$ 43.60000000
Class 8-A14....$ 207.63001503 Class 8-RL......$ 0.00000435
ii) Principal Prepayments included in the above principal distribution
(including the Scheduled Principal Balances of all Defaulted Mortgage
Loans and Defective Mortgage Loans purchased pursuant to Section 2.02,
2.03 (b) or 3.16, respectively, and any amounts deposited pursuant to
Section 2.03(b) in connection with the substitution of any Mortgage
Loans pursuant to Section 2.02 or 2.03(a), the proceeds of which are
being distributed on such Distribution Date):
Class 8-A1.....$ 0.70355208 Class 8-A14.....$ 202.88821370
Class 8-A2.....$ 28.65963563 Class 8-A15.....$ 202.88821468
Class 8-A3.....$ 0.00000000 Class 8-A16.....$ 42.56554676
Class 8-A4.....$ 0.00000000 Class 8-A17.....$ 0.00000000
<PAGE>
Class 8-A5.....$ 0.00000000 Class 8-A18.....$ 0.00000000
Class 8-A6.....$ 0.00000000 Class 8-A19.....$ 0.00000000
Class 8-A7.....$ 7.73016093 Class 8-PO......$ 0.94082883
Class 8-A8.....$ 33.56718748 Class 8-M.......$ 0.00000000
Class 8-A9.....$ 0.00000000 Class 8-B1......$ 0.00000000
Class 8-A10....$ 0.00000000 Class 8-B2......$ 0.00000000
Class 8-A11....$ 0.00000000 Class 8-B3......$ 0.00000000
Class 8-A12....$ 0.00000000 Class 8-B4......$ 0.00000000
Class 8-A13....$ 0.00000000 Class 8-B5......$ 0.00000000
Class 8-R.......$ 42.60427432
Class 8-RL......$ 0.00000425
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 8-A1.....$ 6.02034262 Class 8-A15.....$ 1.54115785
Class 8-A2.....$ 5.33723742 Class 8-A16.....$ 5.07369964
Class 8-A3.....$ 5.62500000 Class 8-A17.....$ 5.93750000
Class 8-A4.....$ 5.62500038 Class 8-A18.....$ 0.05416667
Class 8-A5.....$ 5.62500000 Class 8-A19.....$ 0.05000000
Class 8-A6.....$ 6.04166651 Class 8-M.......$ 6.02034243
Class 8-A7.....$ 5.92651676 Class 8-B1......$ 6.02034237
Class 8-A8.....$ 5.27474400 Class 8-B2......$ 6.02033254
Class 8-A9.....$ 0.00000000 Class 8-B3......$ 6.02032721
Class 8-A10....$ 0.00000000 Class 8-B4......$ 6.02028735
Class 8-A11....$ 6.04166643 Class 8-B5......$ 6.02032627
Class 8-A12....$ 6.04166790 Class 8-R.......$ 5.00000000
Class 8-A13....$ 6.04166678 Class 8-RL......$ 5.00000000
Class 8-A14....$ 1.18522127 Class 8-S.......$ 0.48965782
iv) Accrual Amount:
Class 8-A9 Certificates $ 26,468.40
Class 8-A10 Certificates $ 73,041.83
v) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:.....$ 92,706.87
(b) The amounts below are for the aggregate of all Certificates.
vi) The Pool Scheduled Principal Balances of each Mortgage Pool on the
preceding Due Date after giving effect to all distributions allocable
to principal made on such Distribution Date:.......$ 437,392,806.59
<PAGE>
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:................. 1,459
vii) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to (i) all distributions allocable to principal
made on such Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date:
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 8-A1..................$ 18,484,116.15 $ 995.75
Class 8-A2..................$ 11,392,511.76 $ 854.08
Class 8-A3..................$ 29,292,000.00 $ 1,000.00
Class 8-A4..................$ 13,131,000.00 $ 1,000.00
Class 8-A5..................$ 18,652,000.00 $ 1,000.00
Class 8-A6..................$ 21,902,000.00 $ 1,000.00
Class 8-A7..................$ 96,907,937.09 $ 973.03
Class 8-A8..................$ 46,129,015.38 $ 838.71
Class 8-A9..................$ 4,407,445.12 $ 1,036.80
Class 8-A10.................$ 12,162,723.74 $ 1,036.80
Class 8-A11.................$ 21,579,000.00 $ 1,000.00
Class 8-A12.................$ 4,212,068.52 $ 1,000.00
Class 8-A13.................$ 29,722,000.00 $ 1,000.00
Class 8-A14.................$ 0.00 $ 0.00
Class 8-A15.................$ 0.00 $ 0.00
Class 8-A16.................$ 61,964,491.15 $ 796.22
Class 8-A17.................$ 30,000,000.00 $ 1,000.00
Class 8-A18.................$ 30,000,000.00 $ 1,000.00
Class 8-A19.................$ 30,000,000.00 $ 1,000.00
Class 8-PO..................$ 457,256.93 $ 991.23
Class 8-M...................$ 7,734,989.92 $ 995.75
Class 8-B1..................$ 4,740,768.16 $ 995.75
Class 8-B2..................$ 3,743,026.16 $ 995.75
Class 8-B3..................$ 2,495,350.76 $ 995.75
Class 8-B4..................$ 748,505.66 $ 995.75
Class 8-B5..................$ 1,746,588.99 $ 995.75
Class 8-R...................$ 39.81 $ 796.20
Class 8-RL..................$ 39.81 $ 796.20
Class 8-S...................$ 409,935,515.98 $ 865.80
viii)The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in lieu of
foreclosure or otherwise, of any REO Mortgage Loan:
book value............................................$ 0.00
unpaid principal balance..............................$ 0.00
number of related mortgage loans...................... 0
<PAGE>
ix) The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the month
preceding the related Determination Date, were:
(a) delinquent
(1) 30-59 days
Number 9 Principal Balance $ 2,385,478.72
(2) 60-89 days
Number 0 Principal Balance $ 0.00
(3) 90 days or more
Number 1 Principal Balance $ 344,283.03
(b) foreclosure
Number 1 Principal Balance $ 217,537.91
x) The Scheduled Principal Balance of any Mortgage Loan and number of
replaced pursuant to Section 2.03(b), and of any Modified Mortgage
Loan purchased pursuant to Section 3.01(c):...$ 0.00 $ 0.00
xi) The Scheduled Principal Balance of any Mortgage Loan and number of any
Modified Mortgage Loan purchased pursuant to Section 3.01(c):
$ 0.00 $ 0.00
xii) The Certificate Interest Rates, applicable to the Interest Accrual
Period relating to such Distribution Date:
Class 8-A14 Certificates: .............6.850000%
Class 8-A15 Certificates: .............8.907139%
Class 8-S Certificates: ...............0.347641%
xiii) Senior Percentage for such Distribution Date:......... 95.28919100%
xiv) Category B Group I Senior Percentage for such Distribution
Date:.................................................. 88.87378800%
xv) Category B Group II Senior Percentage for such Distribution
Date: ................................................. 11.00000000%
xvi) Senior Prepayment Percentage for such Distribution Date: 100.00000000%
xvii)Category B Group I Senior Prepayment Percentage for
such Distribution Date: ............................... 100.00000000%
xviii)Junior Percentage for such Distribution Date: ........ 4.71080900%
xix) Junior Prepayment Percentage for such Distribution Date: 0.00000000%
Exhibit 99.21
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
March 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-10
Pursuant to the Pooling and Servicing Agreement dated as of September 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 ................................$ 445,863.07
(b) Interest .................................$ 869,965.47
(c) Total ....................................$ 1,315,828.54
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ................................$ 445,863.07
(b) Interest .................................$ 846,951.33
(c) Total ....................................$ 1,292,814.40
3. Aggregate Principal Prepayments in part received and applied in prior
month: .........................................$ 69,109.14
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ................................$ 3,817,247.78
(b) Interest .................................$ 16,610.75
(c) Total ....................................$ 3,833,858.53
5. Aggregate Insurance Proceeds (including purchases of Mortgage Loans by
primary mortgage insurers) for prior month:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage Loans:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
<PAGE>
8. Aggregate Purchase Prices ( and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
9. Pool Scheduled Principal Balance: .............$ 136,367,420.41
10. Available Funds: ..............................$ 5,195,782.07
11. Realized Losses for prior month: ...............$ 0.00
12. Aggregate Realized Losses and Debt Service Reductions:
(a) Deficient Valuations: ......................$ 0.00
(b) Special Hazard Losses: .....................$ 0.00
(c) Fraud Losses: ..............................$ 0.00
(d) Excess Bankruptcy Losses: ..................$ 0.00
(e) Excess Special Hazard Losses: ..............$ 0.00
(f) Excess Fraud Losses: .......................$ 0.00
(g) Debt Service Reductions: ...................$ 0.00
13. Compensating Interest Payment: .................$ 6,083.25
14. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 10-A1......$ 254,632.97 $ 0.00 6.74999991%
Class 10-A2......$ 87,893.57 $ 0.00 6.74999964%
Class 10-A3......$ 141,138.95 $ 0.00 6.74999978%
Class 10-A4......$ 56,546.67 $ 0.00 6.74999955%
Class 10-A5......$ 114,020.69 $ 0.00 6.74999996%
Class 10-A6......$ 113,538.74 $ 0.00 6.75000000%
Class 10-M.......$ 8,590.17 $ 0.00 6.74999613%
Class 10-B1......$ 4,292.32 $ 0.00 6.75000284%
Class 10-B2......$ 4,292.32 $ 0.00 6.75000284%
Class 10-B3......$ 2,575.39 $ 0.00 6.74999736%
Class 10-B4......$ 1,716.93 $ 0.00 6.75001061%
Class 10-B5......$ 2,149.50 $ 0.00 6.74991527%
Class 10-S.......$ 72,173.86 $ 0.00 0.61853998%
Class 10-R.......$ 0.00 $ 0.00 0.00000000%
15. Principal distributable:
Class 10-A1.......$ 1,432,365.66 Class 10-M....$ 4,839.34
Class 10-A2.......$ 1,427,590.92 Class 10-B1...$ 2,418.11
Class 10-A3.......$ 1,394,962.23 Class 10-B2...$ 2,418.11
Class 10-A4.......$ 0.00 Class 10-B3...$ 1,450.87
Class 10-A5.......$ 0.00 Class 10-B4...$ 967.24
Class 10-A6.......$ 63,962.88 Class 10-B5...$ 1,210.95
Class 10-PO.......$ 33.68 Class 10-R....$ 0.00
16. Additional distributions to the Class 10-R Certificate pursuant to
Section 4.01(b):..................................$ 0.00
17. Certificate Interest Rates of:
Class 10-S Certificates:..... 0.618540%
<PAGE>
B. Other Amounts:
1. Senior Percentage for such Distribution Date: ........... 97.015794%
2. Category A-Senior Percentage for such Distribution Date: 32.175480%
3. Category B-Senior Percentage for such Distribution Date: 64.840314%
4. Category A-Percentage for such Distribution Date: ....... 33.165198%
5. Category B-Percentage for such Distribution Date: ....... 66.834802%
6. Cat. B Group I Senior Percentage for such Distribution Date: 50.493533%
7. Cat. B Group II Senior Percentage for such Distribution Date:14.346781%
8. Senior Prepayment Percentage for such Distribution Date: . 100.000000%
9. Junior Percentage for such Distribution Date: ............ 2.984206%
10. Junior Prepayment Percentage for such Distribution Date: . 0.000000%
11. Class A6 Percentage:...................................... 22.126329%
12. Class A6 Prepayment Distribution Percentage:.............. 0.000000%
13. Subordinate Certificate Writedown Amount for such
Distribution Date: .......................................$ 0.00
14. Prepayment Distribution Triggers satisfied:
YES NO
--- --
Class 10-B1....... X
Class 10-B2....... X
Class 10-B3....... X
Class 10-B4....... X
Class 10-B5....... X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
-----------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.22
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
March 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-10
Pursuant to the Pooling and Servicing Agreement dated as of September 1,
1997 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company") and State Street Bank and Trust Company (the "Trustee"), governing
the Certificates referred to above, the Company hereby certifies to the Trustee:
(a) The amounts below (other than for Class R) are for a Single Certificate of
$1,000:
i) The amount of such distribution allocable to principal:
Class 10-A1.....$ 28.64731320 Class 10-M.......$ 3.12014184
Class 10-A2.....$ 70.36280349 Class 10-B1......$ 3.12014194
Class 10-A3.....$ 47.05039433 Class 10-B2......$ 3.12014194
Class 10-A4.....$ 0.00000000 Class 10-B3......$ 3.12015054
Class 10-A5.....$ 0.00000000 Class 10-B4......$ 3.12012903
Class 10-A6.....$ 3.12014049 Class 10-B5......$ 3.12013578
Class 10-PO.....$ 3.93701708 Class 10-R.......$ 0.00000000
ii) Principal Prepayments included in the above principal distribution
(including the Scheduled Principal Balances of all Defaulted Mortgage
Loans and Defective Mortgage Loans purchased pursuant to Section 2.02,
2.03 (b) or 3.16, respectively, and any amounts deposited pursuant to
Section 2.03(b) in connection with the substitution of any Mortgage
Loans pursuant to Section 2.02 or 2.03(a), the proceeds of which are
being distributed on such Distribution Date):
Class 10-A1.....$ 25.77815823 Class 10-M.......$ 0.00000000
Class 10-A2.....$ 63.31565787 Class 10-B1......$ 0.00000000
Class 10-A3.....$ 42.33808948 Class 10-B2......$ 0.00000000
Class 10-A4.....$ 0.00000000 Class 10-B3......$ 0.00000000
Class 10-A5.....$ 0.00000000 Class 10-B4......$ 0.00000000
Class 10-A6.....$ 2.80764464 Class 10-B5......$ 0.00000000
Class 10-PO.....$ 3.54270743 Class 10-R.......$ 0.00000000
<PAGE>
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 10-A1.....$ 5.09265940 Class 10-B1......$ 5.53847742
Class 10-A2.....$ 4.33207994 Class 10-B2......$ 5.53847742
Class 10-A3.....$ 4.76044663 Class 10-B3......$ 5.53847312
Class 10-A4.....$ 5.62499963 Class 10-B4......$ 5.53848387
Class 10-A5.....$ 5.62499997 Class 10-B5......$ 5.53840527
Class 10-A6.....$ 5.53847512 Class 10-R.......$ 0.00000000
Class 10-M......$ 5.53847195 Class 10-S.......$ 0.00000000
iv) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:.....$ 30,861.41
(b) The amounts below are for the aggregate of all Certificates.
v) The Pool Scheduled Principal Balances of each Mortgage Pool on the
preceding Due Date after giving effect to all distributions allocable
to principal made on such Distribution Date:.......$ 136,367,420.41
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:................. 447
vi) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to (i) all distributions allocable to principal
made on such Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date:
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 10-A1..............$ 43,835,718.47 $ 876.71
Class 10-A2..............$ 14,197,933.46 $ 699.78
Class 10-A3..............$ 23,696,407.49 $ 799.25
Class 10-A4..............$ 10,052,742.00 $ 1,000.00
Class 10-A5..............$ 20,270,345.00 $ 1,000.00
Class 10-A6..............$ 20,120,702.02 $ 981.50
Class 10-PO..............$ 8,359.86 $ 977.22
Class 10-M...............$ 1,522,302.87 $ 981.50
Class 10-B1..............$ 760,660.68 $ 981.50
Class 10-B2..............$ 760,660.68 $ 981.50
Class 10-B3..............$ 456,396.42 $ 981.50
Class 10-B4..............$ 304,264.28 $ 981.50
Class 10-B5..............$ 380,927.18 $ 981.50
Class 10-R...............$ 0.00 $ 0.00
Class 10-S...............$ 135,691,576.16 $ 879.16
<PAGE>
vii) The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in lieu of
foreclosure or otherwise, of any REO Mortgage Loan:
book value........................................$ 0.00
unpaid principal balance..........................$ 0.00
number of related mortgage loans.................. 0
viii)The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the month
preceding the related Determination Date, were:
(a) delinquent
(1) 30-59 days
Number 1 Principal Balance $ 98,415.70
(2) 60-89 days
Number 0 Principal Balance $ 0.00
(3) 90 days or more
Number 0 Principal Balance $ 0.00
(b) in foreclosure
Number 0 Principal Balance $ 0.00
ix) The Scheduled Principal Balance of any Mortgage Loan and number of
replaced pursuant to Section 2.03(b), and of any Modified Mortgage
Loan purchased pursuant to Section 3.01(c): $ 0.00 $ 0.00
x) The Scheduled Principal Balance of any Mortgage Loan and number of any
Modified Mortgage Loan purchased pursuant to Section 3.01(c):
$ 0.00 $ 0.00
xi) The Certificate Interest Rates, applicable to the Interest Accrual
Period relating to such Distribution Date:
Class 6-S: ........................ 0.618540%
xii) Senior Percentage for such Distribution Date: ............97.01579400%
xiii)Category A-Senior Percentage for such Distribution Date: .32.17548000%
xiv) Category B-Senior Percentage for such Distribution Date: .64.84031400%
xv) Category A-Percentage for such Distribution Date: ........33.165198%
xvi) Category B-Percentage for such Distribution Date: ........66.834802%
xvii) Senior Prepayment Percentage for such Distribution Date: 100.00000000%
xviii) Cat. B. Group I Senior Percentage for such Distribution
Date:.................................................... 50.493533%
xix) Cat. B Group II Senior Percentage for such Distribution
Date:.................................................... 14.346781%
xx) Class A6 Percentage...................................... 22.12632900%
xxi) Class A6 Prepayment Distribution Percentage:............. 0.00000000%
xxii) Junior Percentage for such Distribution Date: ............ 2.98420600%
xxii) Junior Prepayment Percentage for such Distribution Date: 0.00000000%
Exhibit 99.23
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
MARCH 1998
Home Equity Loan Pass-Through Certificates
Series 1997-HE3
Pursuant to the Pooling and Servicing Agreement dated as of September 1,
1997 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company"), and The First National Bank of Chicago (the "Trustee"), governing
the Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
(1) Aggregate Monthly Payments Due: $ 2,171,595.48
(2) Aggregate Monthly Payments received and Monthly Advances made this
Month:
(a) Principal $ 351,524.15
(b) Interest $ 1,782,597.77
(c) Total $ 2,134,121.92
(3) Aggregate Principal Prepayments in part received on Self- Amortizing
Mortgage Loans and applied in the applicable Prepayment Period:
(a) Principal $ 61,819.48
(c) Total $ 61,819.48
(4) Aggregate Principal Prepayments in full received in the applicable
Prepayment period:
(a) Principal $ 3,427,912.06
(b) Interest $ 36,806.00
(c) Total $ 3,464,718.06
<PAGE>
(5) Aggregate Insurance Proceeds (inculding purchases of Mortgage Loans by
primary mortgage insurers) for prior month:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(6) Aggregate Liquidation Proceeds for prior month:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(7) Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(8) Aggregate Purchase Prices for (and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(9) Aggregate Purchase Prices for for Document Deficiencies per Sec. 2.02:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(10) Pool Principal Balance: $ 225,865,836.30
(11) Available Funds: $ 5,559,957.87
(12) Realized Losses for prior month: $ 0.00
<PAGE>
(13) Aggregate Realized Losses: $ 0.00
(a) Deficient Valuations $ 0.00
(b) Special Hazard Losses $ 0.00
(c) Fraud Losses $ 0.00
(d) Excess Bankruptcy Losses $ 0.00
(e) Excess Special Hazard Losses $ 0.00
(f) Excess Fraud Losses $ 0.00
(14) Compensating Interest Payment: $ 2,463.61
(15) Net Simple Interest Shortfall: $ (0.00)
(16) Net Simple Interest Excess: $ 0.00
(17) Simple Interest Shortfall Payment: $ (0.00)
(18) Unpaid Net Simple Interest Shortfall:
Class A1 36157NBK9 $ 0.00
Class A2 36157NBL7 $ 0.00
Class A3 36157NBM5 $ 0.00
Class A4 36157NBN3 $ 0.00
Class A5 36157NBP8 $ 0.00
Class A6 36157NBQ6 $ 0.00
Class S 36197HE3S $ 0.00
Class M 36157NBT0 $ 0.00
Class B1 36157NBU7 $ 0.00
Class B2 36157NBV5 $ 0.00
Class B3 36157NBW3 $ 0.00
Class B4 36157NBX1 $ 0.00
Class B5 36157NBY9 $ 0.00
(19) Class Certificate Interest Rate:
Class M 36157NBT0 7.200%
Class B1 36157NBU7 7.250%
Class B2 36157NBV5 7.600%
Class B3 36157NBW3 9.131%
Class B4 36157NBX1 9.131%
Class B5 36157NBY9 9.131%
Class S 36197HE3S 2.38%
<PAGE>
(20) Accrued Certificate Interest and Pay-out Rate:
Class A1 36157NBK9 $ 361,171.82 6.530%
Class A2 36157NBL7 $ 69,983.33 6.460%
Class A3 36157NBM5 $ 293,400.00 6.520%
Class A4 36157NBN3 $ 149,227.23 6.790%
Class A5 36157NBP8 $ 135,552.08 7.150%
Class A6 36157NBQ6 $ 134,400.00 6.720%
Class S 36197HE3S $ 448,288.27 2.38%
Class M 36157NBT0 $ 35,219.73 7.200%
Class B1 36157NBU7 $ 31,915.48 7.250%
Class B2 36157NBV5 $ 14,868.04 7.600%
Class B3 36157NBW3 $ 17,871.25 9.131%
Class B4 36157NBX1 $ 13,401.55 9.131%
Class B5 36157NBY9 $ 13,403.39 9.131%
Total $ 1,718,702.18
(21) Principal distributable:
Class A1 36157NBK9 $ 3,811,107.36
Class A2 36157NBL7 $ 0.00
Class A3 36157NBM5 $ 0.00
Class A4 36157NBN3 $ 0.00
Class A5 36157NBP8 $ 0.00
Class A6 36157NBQ6 $ 0.00
Class M 36157NBT0 $ 9,135.65
Class B1 36157NBU7 $ 8,221.47
Class B2 36157NBV5 $ 3,653.64
Class B3 36157NBW3 $ 3,655.19
Class B4 36157NBX1 $ 2,741.00
Class B5 36157NBY9 $ 2,741.38
Class R1 36157NBR4 $ 0.00
Class R2 36157NBS2 $ 0.00
Total $ 3,841,255.69
(22) Additional distributions to the Class R1 Certificate pursuant to
Section 2.05 (d) : $ 0.00
(23) Additional distributions to the Class R2 Certificate pursuant to
Section 4.01 (b) : $ 0.00
B. Other Amounts:
(1) Senior Percentage for such Distribution Date: 91.423541%
(2) Senior Prepayment Percentage for such Distribution Date: 100.000000%
(3) Junior Percentage for such Distribution Date: 8.576459%
(4) Junior Prepayment Percentage for such Distribution Date: 0.000000%
(5) Subordinate Certfificate Writedown Amount for such
Distribution Date: $ 0.00
(6) Prepayment Distribution Triggers satisfied:
Yes No
--- --
Class B1 X
Class B2 X
Class B3 X
Class B4 X
Class B5 X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
-----------------------------------
Name: Karen Pickett
Title: Vice President,
Investor Operations
Exhibit 99.24
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
MARCH 1998
Home Equity Loan Pass-Through Certificates
Series 1997-HE3
Pursuant to the Pooling and Servicing Agreement dated as of September 1,
1997 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company"), and The First National Bank of Chicago (the "Trustee"), governing
the Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
The amounts below are for a Single Certificate of $1,000:
(1) Amount of distribution allocable to principal:
Class A1 36157NBK9 $ 49.49490083
Class A2 36157NBL7 $ 0.00000000
Class A3 36157NBM5 $ 0.00000000
Class A4 36157NBN3 $ 0.00000000
Class A5 36157NBP8 $ 0.00000000
Class A6 36157NBQ6 $ 0.00000000
Class M 36157NBT0 $ 1.54422726
Class B1 36157NBU7 $ 1.54422726
Class B2 36157NBV5 $ 1.54422726
Class B3 36157NBW3 $ 1.54422726
Class B4 36157NBX1 $ 1.54422726
Class B5 36157NBY9 $ 1.54422726
Class R1 36157NBR4 $ 0.00000000
Class R2 36157NBS2 $ 0.00000000
(2) Aggregate Principal prepayments included in distribution:
Class A1 36157NBK9 $ 3,489,731.54
Class A2 36157NBL7 $ 0.00
Class A3 36157NBM5 $ 0.00
Class A4 36157NBN3 $ 0.00
Class A5 36157NBP8 $ 0.00
Class A6 36157NBQ6 $ 0.00
Class M 36157NBT0 $ 0.00
Class B1 36157NBU7 $ 0.00
Class B2 36157NBV5 $ 0.00
Class B3 36157NBW3 4 0.00
Class B4 36157NBX1 $ 0.00
Class B5 36157NBY9 $ 0.00
Class R1 36157NBR4 $ 0.00
Class R2 36157NBS2 $ 0.00
<PAGE>
(3) Amount of distribution allocable to interest Pay-out Rate:
Class A1 36157NBK9 $ 4.69054313 6.530%
Class A2 36157NBL7 $ 5.38333333 6.460%
Class A3 36157NBM5 $ 5.43333333 6.520%
Class A4 36157NBN3 $ 5.65833333 6.790%
Class A5 36157NBP8 $ 5.95833333 7.150%
Class A6 36157NBQ6 $ 5.60000000 6.720%
Class S 36197HE3S $ 1.98475466 2.38%
Class M 36157NBT0 $ 5.95330105 7.200%
Class B1 36157NBU7 $ 5.99464342 7.250%
Class B2 36157NBV5 $ 6.28404000 7.600%
Class B3 36157NBW3 $ 7.55016905 9.131%
Class B4 36157NBX1 $ 7.55016905 9.131%
Class B5 36157NBY9 $ 7.55016905 9.131%
(4) Servicing Compensation: $ 116,266.31
The amounts below are for the aggregate of all Certificates:
(5) Pool Principal Balance; $ 225,865,836.30
number of Mortgage Loans: 3,581
(6) Class Certificate Principal Balance of each Class; Certificate
Principal Balance of Single Certificate of each class:
Single
Certificate
Class Cusip# Class Balance Balance
----- ------ ------------- -------
Class A1 36157NBK9 $ 62,560,437.09 $ 812.47320892
Class A2 36157NBL7 $ 13,000,000.00 $ 1,000.00000000
Class A3 36157NBM5 $ 54,000,000.00 $ 1,000.00000000
Class A4 36157NBN3 $ 26,373,000.00 $ 1,000.00000000
Class A5 36157NBP8 $ 22,750,000.00 $ 1,000.00000000
Class A6 36157NBQ6 $ 24,000,000.00 $ 1,000.00000000
Class M 36157NBT0 $ 5,860,819.19 $ 990.67261499
Class B1 36157NBU7 $ 5,274,341.00 $ 990.67261499
Class B2 36157NBV5 $ 2,343,931.41 $ 990.67261499
Class B3 36157NBW3 $ 2,344,922.08 $ 990.67261499
Class B4 36157NBX1 $ 1,758,443.89 $ 990.67261499
Class B5 36157NBY9 $ 1,758,685.95 $ 990.67261499
Class R1 36157NBR4 $ 0.00 $ 0.00000000
Class R2 36157NBS2 $ 0.00 $ 0.00000000
<PAGE>
(7) Book value of real estate acquired on behalf of Certificate-
holders; $ 0.00
number of related Mortgage Loans: 0
(8) Aggregate Scheduled Principal Balance and number of delinquent
Mortgage Loans:
One Payment Delinquent $ 1,138,771.82
21
Two Payments Delinquent $ 241,816.35
4
Three or more Payments Delinquent $ 355,935.68
6
TOTAL $ 1,736,523.85
31
In foreclosure $ 932,490.76
16
(9) Aggregate Scheduled Principal Balance and number of replaced Mortgage
Loans: $ 0.00
0
(10) Unpaid Net Simple Interest Shortfall:
Class A1 36157NBK9 $ 0.00
Class A2 36157NBL7 $ 0.00
Class A3 36157NBM5 $ 0.00
Class A4 36157NBN3 $ 0.00
Class A5 36157NBP8 $ 0.00
Class A6 36157NBQ6 $ 0.00
Class S 36197HE3S $ 0.00
Class M 36157NBT0 $ 0.00
Class B1 36157NBU7 $ 0.00
Class B2 36157NBV5 $ 0.00
Class B3 36157NBW3 $ 0.00
Class B4 36157NBX1 $ 0.00
Class B5 36157NBY9 $ 0.00
(11) Class Certificate Interest Rate of:
Class M 36157NBT0 7.200%
Class B1 36157NBU7 7.250%
Class B2 36157NBV5 7.600%
Class B3 36157NBW3 9.131%
Class B4 36157NBX1 9.131%
Class B5 36157NBY9 9.131%
Class S 36197HE3S 2.38%
(12) Senior Percentage for such Distribution Date: 91.423541%
(13) Senior Prepayment Percentage for such Distribution Date:100.000000%
(14) Junior Percentage for such Distribution Date: 8.576459%
(15) Junior Prepayment Percentage for such Distribution Date: 0.000000%
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
------------------------------------
Name: Karen Pickett
Title: Vice President,
Investor Operations
Exhibit 99.25
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
March 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-9
Pursuant to the Pooling and Servicing Agreement dated as of October 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
Pool 1 Pool 2
------ ------
(a) Principal .....................$ 329,441.31 $ 243,363.40
(b) Interest ......................$ 2,909,579.92 $ 2,067,722.74
(c) Total .........................$ 3,239,021.23 $ 2,311,086.14
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal .....................$ 329,441.31 $ 243,363.40
(b) Interest ......................$ 2,827,870.32 $ 2,011,014.52
(c) Total .........................$ 3,157,311.63 $ 2,254,377.92
3. Aggregate Principal Prepayments in part received and applied in the
applicable Prepayment Period:........$ 80,097.07 $ 58,078.70
4. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal .....................$ 13,864,272.95 $ 8,453,058.86
(b) Interest ......................$ 76,836.93 $ 43,499.41
(c) Total .........................$ 13,941,109.88 $ 8,496,558.27
<PAGE>
5. Aggregate Insurance Proceeds (including purchases of Mortgage Loans by
primary mortgage insurers) for prior month:
Pool 1 Pool 2
------ ------
(a) Principal .....................$ 0.00 $ 0.00
(b) Interest ......................$ 0.00 $ 0.00
(c) Total .........................$ 0.00 $ 0.00
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal .....................$ 0.00 $ 0.00
(b) Interest ......................$ 0.00 $ 0.00
(c) Total .........................$ 0.00 $ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage Loans:
(a) Principal .....................$ 0.00 $ 0.00
(b) Interest ......................$ 0.00 $ 0.00
(c) Total .........................$ 0.00 $ 0.00
8. Aggregate Purchase Prices (and subsitution adjustments) for Defective
Mortgage Loans:
(a) Principal .....................$ 244,264.29 $ 0.00
(b) Interest ......................$ 1,272.91 $ 0.00
(c) Total .........................$ 245,537.20 $ 0.00
9. Pool Scheduled Principal Balance.....$ 445,281,046.00 $320,730,401.70
10. Available Funds: ...................$ 17,424,055.78 $ 10,809,014.89
11. Realized Losses for Prior Month:.$ 0.00 $ 0.00
12. Aggregrate Realized Losses and Debt Service Reductions:
(a) Deficient Valuations ...........$ 0.00 $ 0.00
(b) Special Hazard Losses ..........$ 0.00 $ 0.00
(c) Fraud Losses ...................$ 0.00 $ 0.00
(d) Excess Bankruptcy Losses .......$ 0.00 $ 0.00
(e) Excess Special Hazard Losses ...$ 0.00 $ 0.00
(f) Excess Fraud Losses ............$ 0.00 $ 0.00
(g) Debt Service Reductions..........$ 0.00 $ 0.00
<PAGE>
13. Compensating Interest Payment: ....$ 12,728.79 $ 11,555.98
14. Accrued Certificate Interest, unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 1-A1....$ 106,628.63 $ 0.00 6.74999998%
Class 1-A2....$ 91,068.75 $ 0.00 6.75000000%
Class 1-A3....$ 104,366.25 $ 0.00 6.75000000%
Class 1-A4....$ 79,689.38 $ 0.00 6.75000042%
Class 1-A5....$ 76,185.00 $ 0.00 6.75000000%
Class 1-A6....$ 355,902.61 $ 0.00 6.99999991%
Class 1-A7....$ 0.00 $ 0.00 0.00000000%
Class 1-A8....$ 33,449.13 $ 0.00 7.00000026%
Class 1-A9....$ 208,490.87 $ 0.00 7.00000015%
Class 1-A10...$ 43,916.69 $ 0.00 6.99999949%
Class 1-A11...$ 126,596.64 $ 0.00 2.11879384%
Class 1-A12...$ 120,761.56 $ 0.00 7.25000012%
Class 1-A13...$ 303,318.51 $ 0.00 7.25000009%
Class 1-A14...$ 251,534.70 $ 0.00 7.24999993%
Class 1-A15...$ 162,097.92 $ 0.00 7.25000015%
Class 1-A16...$ 100,170.83 $ 0.00 7.24999976%
Class 1-A17...$ 121,926.87 $ 0.00 7.24999970%
Class 1-PO....$ 0.00 $ 0.00 0.00000000%
Class 1-S.....$ 128,126.00 $ 0.00 0.33645400%
Class 1-M.....$ 46,798.49 $ 0.00 7.24999961%
Class 1-B1....$ 28,682.75 $ 0.00 7.24999932%
Class 1-B2....$ 22,643.17 $ 0.00 7.25000045%
Class 1-B3....$ 15,094.49 $ 0.00 7.25002320%
Class 1-B4....$ 4,528.68 $ 0.00 7.25007410%
Class 1-B5....$ 10,574.50 $ 0.00 7.25004776%
Class 1-R.....$ 0.00 $ 0.00 0.00000000%
Class 1-RL....$ 0.00 $ 0.00 0.00000000%
Class 2-A1....$ 204,006.90 $ 0.00 6.99999985%
Class 2-A2....$ 102,003.45 $ 0.00 6.99999985%
Class 2-A3....$ 414,544.01 $ 0.00 6.99999996%
Class 2-A4....$ 123,410.00 $ 0.00 7.00000000%
Class 2-A5....$ 58,496.67 $ 0.00 7.00000040%
Class 2-A6....$ 116,666.67 $ 0.00 7.00000020%
Class 2-A7....$ 576,776.63 $ 0.00 6.99999999%
Class 2-A8....$ 65,566.67 $ 0.00 7.00000036%
Class 2-A9....$ 84,939.17 $ 0.00 7.00000027%
Class 2-A10...$ 87,838.33 $ 0.00 6.99999973%
Class 2-S.....$ 133,561.21 $ 0.00 0.50280800%
Class 2-PO....$ 0.00 $ 0.00 0.00000000%
Class 2-M.....$ 31,621.24 $ 0.00 6.99999897%
Class 2-B1....$ 19,380.45 $ 0.00 6.99998866%
Class 2-B2....$ 15,300.27 $ 0.00 7.00001967%
Class 2-B3....$ 10,199.20 $ 0.00 7.00001239%
Class 2-B4....$ 3,059.48 $ 0.00 7.00003718%
Class 2-B5....$ 7,143.58 $ 0.00 7.00001843%
<PAGE>
15. Principal Distribution Amount:
Class 1-A1....$ 444,087.55 Class 2-A1....$ 25,829.36
Class 1-A2....$ 0.00 Class 2-A2....$ 12,914.68
Class 1-A3....$ 0.00 Class 2-A3....$ 4,345,843.57
Class 1-A4....$ 0.00 Class 2-A4....$ 0.00
Class 1-A5....$ 0.00 Class 2-A5....$ 0.00
Class 1-A6....$ 8,218,261.48 Class 2-A6....$ 0.00
Class 1-A7....$ 0.00 Class 2-A7....$ 4,358,758.25
Class 1-A8....$ 61,019.58 Class 2-A8....$ 0.00
Class 1-A9....$ 25,608.19 Class 2-A9....$ 0.00
Class 1-A10...$ 5,394.13 Class 2-A10...$ 0.00
Class 1-A11...$ 310,775.67 Class 2-PO....$ 177.47
Class 1-A12...$ 14,321.24 Class 2-M.....$ 4,003.57
Class 1-A13...$ 5,562,305.65 Class 2-B1....$ 2,453.77
Class 1-A14...$ 224,496.78 Class 2-B2....$ 1,937.17
Class 1-A15...$ 0.00 Class 2-B3....$ 1,291.32
Class 1-A16...$ 0.00 Class 2-B4....$ 387.36
Class 1-A17...$ 0.00 Class 2-B5....$ 904.44
Class 1-PO....$ 15.26
Class 1-M.....$ 5,549.88
Class 1-B1....$ 3,401.52
Class 1-B2....$ 2,685.28
Class 1-B3....$ 1,790.07
Class 1-B4....$ 537.06
Class 1-B5....$ 1,254.02
Class 1-R.....$ 0.00
Class 1-RL....$ 0.00
16. Accrual Amount:
Class 1-A7 $ 0.00
Class 1-A11C $ 312,742.13
Class 1-A11D $ 50,685.61
17. Additional Distributions to the Class R Certificate pursuant to
Section 4.01 (c):................................. $ 0.00
18. Additional Distributions to the Class RL Certificate pursuant to
Section 2.05 (d):................................. $ 0.00
<PAGE>
19. Distribution Allocable to Unanticipated Recoveries:
Class 1-A1 $ 0.00 Class 2-A1 $ 0.00
Class 1-A2 $ 0.00 Class 2-A2 $ 0.00
Class 1-A3 $ 0.00 Class 2-A3 $ 0.00
Class 1-A4 $ 0.00 Class 2-A4 $ 0.00
Class 1-A5 $ 0.00 Class 2-A5 $ 0.00
Class 1-A6 $ 0.00 Class 2-A6 $ 0.00
Class 1-A7 $ 0.00 Class 2-A7 $ 0.00
Class 1-A8 $ 0.00 Class 2-A8 $ 0.00
Class 1-A9 $ 0.00 Class 2-A9 $ 0.00
Class 1-A10 $ 0.00 Class 2-A10 $ 0.00
Class 1-A11 $ 0.00 Class 2-PO $ 0.00
Class 1-A12 $ 0.00 Class 2-M $ 0.00
Class 1-A13 $ 0.00 Class 2-B1 $ 0.00
Class 1-A14 $ 0.00 Class 2-B2 $ 0.00
Class 1-A15 $ 0.00 Class 2-B3 $ 0.00
Class 1-A16 $ 0.00 Class 2-B4 $ 0.00
Class 1-A17 $ 0.00 Class 2-B5 $ 0.00
Class 1-PO $ 0.00
Class 1-M $ 0.00
Class 1-B1 $ 0.00
Class 1-B2 $ 0.00
Class 1-B3 $ 0.00
Class 1-B4 $ 0.00
Class 1-B5 $ 0.00
Class 1-R $ 0.00
Class 1-RL $ 0.00
20. Certificate Interest Rate of:
Class 1-A11A......................0.00000000%
Class 1-A11B......................0.00000000%
Class 1-S.........................0.33645400%
Class 2-S.........................0.50280800%
B. Other Amounts for such Distribution Date:
Pool 1 Pool 2
------ ------
1. Senior Percentage: .........................95.38053800% 95.48639800%
2. Pool 1 Category A Group II Senior Percentage:21.68765300% N/A
3. Class 1-A12 Percentage.......................11.39463800% N/A
4. Class 2-A1 Percentage........................ N/A 11.12209700%
5. Class 2-A2 Percentage........................ N/A 5.56104900%
6. Senior Prepayment Percentage: .............100.00000000% 100.00000000%
7. Junior Percentage: ..........................4.61946200% 4.51360200%
8. Junior Prepayment Percentage: ...............0.00000000% 0.00000000%
9. Subordinate Certificate Writedown: ..........$ 0.00 $ 0.00
10. Prepayment Triggers satisfied:
YES NO
--- --
Class 1-B1................X
Class 1-B2................X
Class 1-B3................X
Class 1-B4................X
Class 1-B5................X
Class 2-B1................X
Class 2-B2................X
Class 2-B3................X
Class 2-B4................X
Class 2-B5................X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
--------------------------------------
Name: Karen Pickett
Vice-President,
Investor Operations
Exhibit 99.26
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
REMIC Multi-Class Pass-Through Certificates
March 1998
Series 1997-9
Pursuant to the Pooling and Servicing Agreement dated as of October 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
(a) The amounts below are for a Single Certificate of $1,000.
1) The amount of such distribution allocable to principal:
Class 1-A1......$ 21.93566560 Class 2-A1.....$ 0.73642470
Class 1-A2......$ 0.00000000 Class 2-A2.....$ 0.73642470
Class 1-A3......$ 0.00000000 Class 2-A3.....$ 53.28074015
Class 1-A4......$ 0.00000000 Class 2-A4.....$ 0.00000000
Class 1-A5......$ 0.00000000 Class 2-A5.....$ 0.00000000
Class 1-A6......$107.26000365 Class 2-A6.....$ 0.00000000
Class 1-A7......$ 0.00000000 Class 2-A7.....$ 39.83256646
Class 1-A8......$ 10.21248201 Class 2-A8.....$ 0.00000000
Class 1-A9......$ 0.71445443 Class 2-A9.....$ 0.00000000
Class 1-A10.....$ 0.71445430 Class 2-A10....$ 0.00000000
Class 1-A11.....$ 4.36780448 Class 2-PO.....$ 0.98873113
Class 1-A12.....$ 0.71445448 Class 2-M......$ 0.73642417
Class 1-A13.....$ 84.19443957 Class 2-B1.....$ 0.73642557
Class 1-A14.....$ 5.31542039 Class 2-B2.....$ 0.73642653
Class 1-A15.....$ 0.00000000 Class 2-B3.....$ 0.73642429
Class 1-A16.....$ 0.00000000 Class 2-B4.....$ 0.73642586
Class 1-A17.....$ 0.00000000 Class 2-B5.....$ 0.73641826
Class 1-PO......$ 0.92767818
Class 1-M.......$ 0.71445417
Class 1-B1......$ 0.71445495
Class 1-B2......$ 0.71445523
Class 1-B3......$ 0.71445620
Class 1-B4......$ 0.71446056
Class 1-B5......$ 0.71444719
Class 1-R.......$ 0.00000000
Class 1-RL......$ 0.00000000
<PAGE>
2) Principal Prepayments included in the above principal distribution
(including amounts deposited pursuant to Section 3.17, Scheduled
Principal Balances of Defaulted Mortgage Loans, Designated Loans and
Defective Mortgage Loans which are being distributed on this
Distribution Date):
Class 1-A1.....$ 21.46040056 Class 2-A1.....$ 0.71685197
Class 1-A2.....$ 0.00000000 Class 2-A2.....$ 0.71685197
Class 1-A3.....$ 0.00000000 Class 2-A3.....$ 51.86464218
Class 1-A4.....$ 0.00000000 Class 2-A4.....$ 0.00000000
Class 1-A5.....$ 0.00000000 Class 2-A5.....$ 0.00000000
Class 1-A6.....$ 104.93607464 Class 2-A6.....$ 0.00000000
Class 1-A7.....$ 0.00000000 Class 2-A7.....$ 38.77389467
Class 1-A8.....$ 9.99121516 Class 2-A8.....$ 0.00000000
Class 1-A9.....$ 0.69897484 Class 2-A9.....$ 0.00000000
Class 1-A10....$ 0.69897471 Class 2-A10....$ 0.00000000
Class 1-A11....$ 4.27317025 Class 2-PO.....$ 0.96245259
Class 1-A12....$ 0.69897488 Class 2-M......$ 0.00000000
Class 1-A13....$ 82.37025633 Class 2-B1.....$ 0.00000000
Class 1-A14....$ 5.20025482 Class 2-B2.....$ 0.00000000
Class 1-A15....$ 0.00000000 Class 2-B3.....$ 0.00000000
Class 1-A16....$ 0.00000000 Class 2-B4.....$ 0.00000000
Class 1-A17....$ 0.00000000 Class 2-B5.....$ 0.00000000
Class 1-PO.....$ 0.90757881
Class 1-M......$ 0.00000000
Class 1-B1.....$ 0.00000000
Class 1-B2.....$ 0.00000000
Class 1-B3.....$ 0.00000000
Class 1-B4.....$ 0.00000000
Class 1-B5.....$ 0.00000000
Class 1-R......$ 0.00000000
Class 1-RL.....$ 0.00000000
3) The amount of such distribution to the Certificateholders of each
class, allocable to Interest; Pay-out Rate:
Class 1-A1.....$ 5.26691183 6.75000000%
Class 1-A2.....$ 5.62500000 6.75000000%
Class 1-A3.....$ 5.62500000 6.75000000%
Class 1-A4.....$ 5.62500035 6.75000000%
Class 1-A5.....$ 5.62500000 6.75000000%
Class 1-A6.....$ 4.64503537 7.00000000%
Class 1-A7.....$ 0.00000000 7.00000000%
Class 1-A8.....$ 5.59818075 7.00000000%
Class 1-A9.....$ 5.81678068 7.00000000%
Class 1-A10....$ 5.81678013 7.00000000%
Class 1-A11....$ 1.77925566 0.00000000%
Class 1-A12....$ 6.02452282 7.25000000%
Class 1-A13....$ 4.59121335 7.25000000%
Class 1-A14....$ 5.95559844 7.25000000%
<PAGE>
Class 1-A15....$ 6.04166679 7.25000000%
Class 1-A16....$ 6.04166647 7.25000000%
Class 1-A17....$ 6.04166642 7.25000000%
Class 1-S......$ 0.36531011 0.33645400%
Class 1-M......$ 6.02452240 7.25000000%
Class 1-B1.....$ 6.02452216 7.25000000%
Class 1-B2.....$ 6.02452308 7.25000000%
Class 1-B3.....$ 6.02454201 7.25000000%
Class 1-B4.....$ 6.02458428 7.25000000%
Class 1-B5.....$ 6.02456246 7.25000000%
Class 1-R......$ 0.00000000 7.25000000%
Class 1-RL.....$ 0.00000000 7.25000000%
Class 2-A1.....$ 5.81647089 7.00000000%
Class 2-A2.....$ 5.81647089 7.00000000%
Class 2-A3.....$ 5.08237614 7.00000000%
Class 2-A4.....$ 5.83333333 7.00000000%
Class 2-A5.....$ 5.83333367 7.00000000%
Class 2-A6.....$ 5.83333350 7.00000000%
Class 2-A7.....$ 5.27088040 7.00000000%
Class 2-A8.....$ 5.83333363 7.00000000%
Class 2-A9.....$ 5.83333356 7.00000000%
Class 2-A10....$ 5.83333311 7.00000000%
Class 2-S......$ 0.26650546 0.50280800%
Class 2-PO.....$ 0.00000000 0.00000000%
Class 2-M......$ 5.81647016 7.00000000%
Class 2-B1.....$ 5.81646158 7.00000000%
Class 2-B2.....$ 5.81648736 7.00000000%
Class 2-B3.....$ 5.81648132 7.00000000%
Class 2-B4.....$ 5.81650190 7.00000000%
Class 2-B5.....$ 5.81648616 7.00000000%
4) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:
Pool 1 Pool 2
------ ------
$ 97,308.90 $ 69,405.68
(b) The amounts below are for the aggregate of all certificates.
5) The Pool Scheduled Principal Balances: $445,281,046.00 $320,730,401.70
Number of Mortgage Loans: 1,079 1,471
6) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to all distributions allocable to principal made
on such Distribution Date and the allocation of Realized Losses
(separately identified), if any, as of such Distribution Date:
Aggregate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 1-A1........ $ 18,512,113.39 $ 914.40
Class 1-A2........ $ 16,190,000.00 $ 1,000.00
Class 1-A3........ $ 18,554,000.00 $ 1,000.00
Class 1-A4........ $ 14,167,000.00 $ 1,000.00
Class 1-A5........ $ 13,544,000.00 $ 1,000.00
<PAGE>
Class 1-A6........ $ 52,793,615.27 $ 689.03
Class 1-A7........ $ 0.00 $ 0.00
Class 1-A8........ $ 5,673,116.78 $ 949.48
Class 1-A9........ $ 35,715,683.05 $ 996.45
Class 1-A10....... $ 7,523,181.85 $ 996.45
Class 1-A11....... $ 71,751,920.45 $ 1,008.44
Class 1-A12....... $ 19,973,798.70 $ 996.45
Class 1-A13....... $ 44,642,136.77 $ 675.73
Class 1-A14....... $ 41,408,833.28 $ 980.44
Class 1-A15....... $ 26,830,000.00 $ 1,000.00
Class 1-A16....... $ 16,580,000.00 $ 1,000.00
Class 1-A17....... $ 20,181,000.00 $ 1,000.00
Class 1-PO........ $ 16,374.16 $ 995.41
Class 1-S......... $ 442,459,987.90 $ 887.90
Class 1-M......... $ 7,740,407.50 $ 996.45
Class 1-B1........ $ 4,744,088.58 $ 996.45
Class 1-B2........ $ 3,745,149.52 $ 996.45
Class 1-B3........ $ 2,496,600.28 $ 996.45
Class 1-B4........ $ 749,029.90 $ 996.45
Class 1-B5........ $ 1,748,996.52 $ 996.45
Class 1-R........ $ 0.00 $ 0.00
Class 1-RL........ $ 0.00 $ 0.00
Class 2-A1........ $ 34,946,782.83 $ 996.37
Class 2-A2........ $ 17,473,391.40 $ 996.37
Class 2-A3........ $ 66,718,844.25 $ 817.98
Class 2-A4........ $ 21,156,000.00 $ 1,000.00
Class 2-A5........ $ 10,028,000.00 $ 1,000.00
Class 2-A6........ $ 20,000,000.00 $ 1,000.00
Class 2-A7........ $ 94,517,235.65 $ 863.75
Class 2-A8........ $ 11,240,000.00 $ 1,000.00
Class 2-A9........ $ 14,561,000.00 $ 1,000.00
Class 2-A10....... $ 15,058,000.00 $ 1,000.00
Class 2-S......... $ 310,012,195.73 $ 911.91
Class 2-PO........ $ 178,554.92 $ 994.78
Class 2-M......... $ 5,416,781.23 $ 996.37
Class 2-B1........ $ 3,319,914.47 $ 996.37
Class 2-B2........ $ 2,620,958.89 $ 996.37
Class 2-B3........ $ 1,747,139.87 $ 996.37
Class 2-B4........ $ 524,092.14 $ 996.37
Class 2-B5........ $ 1,223,706.05 $ 996.37
7) The following pertains to any real estate acquired on behalf of
Certificateholders:
Pool 1 Pool 2
------ ------
Book Value...............................$ 0.00 $ 0.00
Unpaid Principal Balance.................$ 0.00 $ 0.00
The aggregate number of Mortgage Loans included in the Principal
Balance set forth above:................. 0 0
<PAGE>
8) Aggregate number and aggregate Principal Balances of delinquent
Mortgage Loans, as of the opening of business on the related
Determination Date:
Loans Principal Balance
----- -----------------
Pool 1...............................................
*(1) *30-59 days 3 $ 718,507.25
(2) 60-89 days 1 $ 231,505.58
(3) 90 days or more 0 $ 0.00
(4) in foreclosure 0 $ 0.00
Pool 2................................................
*(1) 30-59 days 7 $ 2,007,869.72
(2) 60-89 days 2 $ 598,522.99
(3) 90 days or more 0 $ 0.00
(4) in foreclosure 0 $ 0.00
9) The aggregate number of replaced Mortgage loans and Scheduled
Principal Balance:
Pool 1.......................................0 $ 0.00
Pool 2.......................................0 $ 0.00
10) The aggregate number of modified Mortgage loans and Principal
Balance:
Pool 1.......................................0 $ 0.00
Pool 2.......................................0 $ 0.00
11) Certificate Interest Rate of:
Class 1-A11A Certificates: 0.000000%
Class 1-A11B Certificates: 0.000000%
Class 1-S Certificates: 0.336454%
Class 2-S Certificates: 0.502808%
Pool 1 Pool 2
------ ------
12) Senior Percentage: ........................ 95.38053800% 95.48639800%
13) Pool 1 Category A Group II Senior Percentage 21.68765300% N/A
14) Class 1-A12 Percentage...................... 11.39463800% N/A
15) Class 2-A1 Percentage....................... N/A 11.12209700%
16) Class 2-A2 Percentage....................... N/A 5.561049%
17) Senior Prepayment Percentage................100.00000000% 100.00000000%
20) Junior Percentage ......................... 4.61946200% 4.51360200%
21) Junior Prepayment Percentage .............. 0.00000000% 0.00000000%
* It has been the Company's experience that, with respect to the first
Distribution Date after the closing of a securitization containing a large
number of recently originated or acquired Mortgage Loans, the number of Mortgage
Loans 30-59 days delinquent may be inflated due to the borrowers sending monthly
payments to the wrong location or delays by the Company in inputting the
Mortgage Loans on its servicing system. It has also been the Company's
experience that for the majority of such Mortgage Loans the routing of
borrowers' monthly payments has corrected itself by the second Distribution
Date. However, the Company makes no assurances as to the level of delinquent
Mortgage Loans for future Distribution Dates.
Exhibit 99.27
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
March, 1998
Series 1997-11, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of November 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (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 $ 345,791.65
-------------------------------
(b) Interest $ 3,029,070.95
-------------------------------
(c) Total $ 3,374,862.60
-------------------------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 325,463.37
-------------------------------
(b) Interest $ 2,848,979.44
-------------------------------
(c) Total $ 3,174,442.81
-------------------------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 20,328.28
-------------------------------
(b) Interest $ 180,091.51
-------------------------------
(c) Total $ 200,419.79
-------------------------------
4. Aggregate Principal Prepayments in part received in the applicable
Prepayment Period:
(a) Principal $ 98,858.41
-------------------------------
5. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $ 11,538,172.79
-------------------------------
(b) Interest $ 73,835.68
-------------------------------
(c) Total $ 11,612,008.47
-------------------------------
6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
-------------------------------
(b) Interest $ 0.00
-------------------------------
(c) Total $ 0.00
-------------------------------
<PAGE>
7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
-------------------------------
(b) Interest $ 0.00
-------------------------------
(c) Total $ 0.00
-------------------------------
8. Aggregate Deficient Valuations with respect to the Mortgage Loans
during the prior month: $ 0.00
-------------------------------
9. Aggregate Debt Service Reductions with respect to the Mortgage Loans
during the prior month: $ 0.00
-------------------------------
10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
-------------------------------
(b) Interest $ 0.00
-------------------------------
(c) Total $ 0.00
-------------------------------
11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 0.00
-------------------------------
(b) Interest $ 0.00
-------------------------------
(c) Total $ 0.00
-------------------------------
12. Pool Scheduled Principal Balance: $ 467,423,284.28
------------------------------
13. Available Funds: $ 14,985,925.09
------------------------------
14. Realized Losses for prior month: $ 0.00
------------------------------
15. Aggregate Realized Losses:
(a) Aggregate Realized Losses: $ 0.00
-------------------------------
(b) Deficient Valuations: $ 0.00
-------------------------------
(c) Debt Service Reductions: $ 0.00
-------------------------------
(d) Bankruptcy Losses: $ 0.00
-------------------------------
(e) Special Hazard Losses: $ 0.00
-------------------------------
(f) Fraud Losses: $ 0.00
-------------------------------
(g) Excess Bankruptcy Losses: $ 0.00
-------------------------------
(h) Excess Special Hazard Losses: $ 0.00
-------------------------------
(i) Excess Fraud Losses: $ 0.00
-------------------------------
16. Non-Credit Losses: $ 0.00
-------------------------------
17. Compensating Interest Payment: $ 9,493.77
-------------------------------
18. Total interest payments: $ 3,003,102.25
-------------------------------
<PAGE>
19. Interest:
Unpaid Class
Accrued Certificate Interest Accrual
Class Interest Shortfalls Pay-out Rate Amount
- ----- -------- ---------- ------------ ------
R $ 0.00 $ 0.00 0.000000000% $ 0.00
PO $ 0.00 $ 0.00 0.000000000% $ 0.00
A1 $ 1,545,344.04 $ 0.00 7.000000007% $ 0.00
A2 $ 175,245.00 $ 0.00 7.000000000% $ 0.00
A3 $ 274,919.17 $ 0.00 7.000000085% $ 0.00
A4 $ 92,376.67 $ 0.00 7.000000253% $ 0.00
A5 $ 584,167.50 $ 0.00 7.000000000% $ 0.00
S $ 207,149.77 $ 0.00 0.525121454% $ 0.00
M $ 45,187.11 $ 0.00 7.000000248% $ 0.00
B1 $ 27,695.51 $ 0.00 6.999999431% $ 0.00
B2 $ 21,863.04 $ 0.00 7.000000008% $ 0.00
B3 $ 14,575.36 $ 0.00 7.000000008% $ 0.00
B4 $ 4,371.44 $ 0.00 6.999993782% $ 0.00
B5 $ 10,207.64 $ 0.00 6.999998971% $ 0.00
20. Principal Distribution Amount: $ 11,982,822.84
-----------------------------
21. Principal Distribution Amount per Certificate:
Principal Distribution
----------------------
Class R $ 0.00
Class PO $ 93.10
Class A1 $ 11,209,324.07
Class A2 $ 758,085.94
Class A3 $ 0.00
Class A4 $ 0.00
Class A5 $ 0.00
Class S $ 0.00
Class M $ 5,587.20
Class B1 $ 3,424.44
Class B2 $ 2,703.27
Class B3 $ 1,802.18
Class B4 $ 540.51
Class B5 $ 1,262.13
22. Additional distributions to the Class R Certificate pursuant to the
Agreement: $ 0.00
-----------------------
23. Additional distributions to the Class RL Certificate pursuant to the
Agreement: $ 0.00
-----------------------
24. Subordinate Certificate Writedown Amount:
$ 0.00
-----------------------
<PAGE>
25. Unanticipated Recoveries: $ 0.00
-----------------------
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution Triggers satisfied:
Yes No
--- --
Class-B1 X
Class-B2 X
Class-B3 X
Class-B4 X
Class-B5 X
2. Base Servicing Fee amount: $ 99,917.49
-----------------------------
3. Supplemental Servicing Fee amount: $ N/A
-----------------------------
4. Credit Losses for prior month: $ 0.00
-----------------------------
Category A Category B Category C
5. Senior Percentage: 95.568590% N/A N/A N/A
------------ ---- -------- ------------
6. Group I Senior N/A % N/A N/A N/A
Percentage: ------------ ---- -------- ------------
7. Group II Senior N/A % N/A N/A N/A
Percentage: ------------ ---- -------- ------------
8. Senior Prepayment 100.000000% N/A N/A N/A
Percentage: ------------ ---- -------- ------------
9. Group I Senior
Prepayment N/A % N/A N/A N/A
Percentage: ------------ ---- -------- ------------
10. Group II Senior
Prepayment N/A % N/A N/A N/A
Percentage: ------------ ---- -------- ------------
11. Junior Percentage: 4.431410%
------------
12. Junior Prepayment 0.000000%
Percentage: ------------
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
-------------------------------
Karen Pickett
Vice President,
Investor Operations
Exhibit 99.28
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
March, 1998
Series 1997-11, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of November 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
Weighted average coupon % 7.774373
-------------------------
Weighted average maturity 353.73
-------------------------
A. Amount of distribution allocable to principal and interest:
The amounts below are for a Single Certificate of $1,000:
1.
Principal
Principal Per Prepayments Per Interest Per
Class Certificate Certificate Certificate Payout Rate
----- ----------- ----------- ----------- -----------
R $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
PO $ 0.92884508 $ 0.09358289 $ 0.00000000 % 0.00000000
A1 $ 39.15497036 $ 38.07400631 $ 5.39799721 % 7.00000000
A2 $ 25.23420345 $ 24.53755476 $ 5.83333333 % 7.00000000
A3 $ 0.00000000 $ 0.00000000 $ 5.83333340 % 7.00000000
A4 $ 0.00000000 $ 0.00000000 $ 5.83333354 % 7.00000000
A5 $ 0.00000000 $ 0.00000000 $ 5.83333333 % 7.00000000
S $ 0.00000000 $ 0.00000000 $ 0.41867837 % 0.52512145
M $ 0.71972176 $ 0.00000000 $ 5.82083086 % 7.00000000
B1 $ 0.71972257 $ 0.00000000 $ 5.82083018 % 7.00000000
B2 $ 0.71972045 $ 0.00000000 $ 5.82083067 % 7.00000000
B3 $ 0.71972045 $ 0.00000000 $ 5.82083067 % 7.00000000
B4 $ 0.71972037 $ 0.00000000 $ 5.82082557 % 7.00000000
B5 $ 0.71972012 $ 0.00000000 $ 5.82082982 % 7.00000000
2. Unanticipated Recoveries: $ 0.00
-----------------------
B. Accrual Amount
1.
Accrual Amount
Class
N/A $ N/A
2. The amount of servicing compensation received by the Company
during the month preceding the month of distribution:
$ 99,917.49
-------------------------
<PAGE>
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance:
$ 467,423,284.28
-------------------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 1,569
-------------------------
3.
Beginning Aggregate Class Ending Aggregate Ending
Certificate Principal Class Certificate Single Certificate
Class Balance Principal Balance Balance Cusip
- ----- ------- ----------------- ------- -----
R $ 0.00 $ 0.00 $ 0.00 36157NER1
PO $ 99,967.48 $ 99,874.38 $ 996.43 GEC9711PO
A1 $ 264,916,120.87 $ 253,706,796.80 $ 886.22 36157NEH3
A2 $ 30,042,000.00 $ 29,283,914.06 $ 974.77 36157NEJ9
A3 $ 47,129,000.00 $ 47,129,000.00 $ 1,000.00 36157NEK6
A4 $ 15,836,000.00 $ 15,836,000.00 $ 1,000.00 36157NEL4
A5 $ 100,143,000.00 $ 100,143,000.00 $ 1,000.00 36157NEM2
S $ 473,375,677.02 $ 461,398,581.53 $ 932.55 GEC97011S
M $ 7,746,361.44 $ 7,740,774.25 $ 997.14 36157NEN0
B1 $ 4,747,802.10 $ 4,744,377.67 $ 997.14 36157NEP5
B2 $ 3,747,949.71 $ 3,745,246.44 $ 997.14 36157NEQ3
B3 $ 2,498,633.14 $ 2,496,830.96 $ 997.14 36157NES9
B4 $ 749,390.38 $ 748,849.86 $ 997.14 36157NET7
B5 $ 1,749,881.40 $ 1,748,619.27 $ 997.14 36157NEU4
D. The aggregate number and aggregate Principal Balances of Mortgage Loans
which, as of the close of business on the last day of the month preceding
the related Determination Date, were delinquent:
1. 30-59 days
Number 11 Principal Balance $ 3,871,162.15
---- -----------------
2. 60-89 days
Number 1 Principal Balance $ 247,372.61
---- -----------------
3. 90 days or more
Number 1 Principal Balance $ 283,799.56
---- -----------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
---- -----------------
5. Real Estate Owned
Number 0 Principal Balance $ 0.00
---- -----------------
6. The Scheduled Principal Balance of any Mortgage Loan replaced pursuant
to the Pooling And Servicing Agreement: $ 0.00
-----------------
E. Other Information:
1. Special Hazard Loss Amount: $ 5,008,170.00
---------------------
2. Bankruptcy Loss Amount: $ 200,645.00
---------------------
3. Fraud Loss Amount: $ 5,008,170.00
---------------------
4. Certificate Interest Rate of the Class
S Certificate: % 0.52512145
--------------
Exhibit 99.29
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
March, 1998
Series 1997-12, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of December 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (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 $ 447,330.47
-------------------------------
(b) Interest $ 3,887,055.32
-------------------------------
(c) Total $ 4,334,385.79
-------------------------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 387,744.53
-------------------------------
(b) Interest $ 3,382,489.65
-------------------------------
(c) Total $ 3,770,234.18
-------------------------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 59,585.94
-------------------------------
(b) Interest $ 504,565.67
-------------------------------
(c) Total $ 564,151.61
-------------------------------
4. Aggregate Principal Prepayments in part received in the
applicable Prepayment Period:
(a) Principal $ 158,953.53
-------------------------------
5. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $ 16,715,668.87
-------------------------------
(b) Interest $ 106,949.98
-------------------------------
(c) Total $ 16,822,618.85
-------------------------------
6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
-------------------------------
(b) Interest $ 0.00
-------------------------------
(c) Total $ 0.00
-------------------------------
<PAGE>
7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
-------------------------------
(b) Interest $ 0.00
-------------------------------
(c) Total $ 0.00
-------------------------------
8. Aggregate Deficient Valuations with respect to the Mortgage
Loans during the prior month: $ 0.00
-------------------------------
9. Aggregate Debt Service Reductions with respect to the Mortgage Loans
during the prior month: $ 0.00
-------------------------------
10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
-------------------------------
(b) Interest $ 0.00
-------------------------------
(c) Total $ 0.00
-------------------------------
11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 0.00
-------------------------------
(b) Interest $ 0.00
-------------------------------
(c) Total $ 0.00
-------------------------------
12. Pool Scheduled Principal Balance: $ 603,223,001.68
------------------------------
13. Available Funds: $ 21,186,533.08
------------------------------
14. Realized Losses for prior month: $ 0.00
------------------------------
15. Aggregate Realized Losses
(a) Aggregate Realized Losses: $ 0.00
-------------------------------
(b) Deficient Valuations: $ 0.00
-------------------------------
(c) Debt Service Reductions: $ 0.00
-------------------------------
(d) Bankruptcy Losses: $ 0.00
-------------------------------
(e) Special Hazard Losses: $ 0.00
-------------------------------
(f) Fraud Losses: $ 0.00
-------------------------------
(g) Excess Bankruptcy Losses: $ 0.00
-------------------------------
(h) Excess Special Hazard Losses:$ 0.00
-------------------------------
(i) Excess Fraud Losses: $ 0.00
-------------------------------
16. Non-Credit Losses: $ 0.00
-------------------------------
17. Compensating Interest Payment: $ 11,891.59
-------------------------------
18. Total interest payments: $ 3,864,580.21
-------------------------------
<PAGE>
19. Interest
Accrued Unpaid Class
Certificate Interest Accrual
Class Interest Shortfalls Pay-out Rate Amount
- ----- -------- ---------- ------------ ------
R $ 0.00 $ 0.00 % 0.000000000 $ 0.00
PO $ 0.00 $ 0.00 % 0.000000000 $ 0.00
A1 $ 1,719,323.87 $ 0.00 % 7.000000012 $ 0.00
A2 $ 824,736.75 $ 0.00 % 7.000000016 $ 0.00
A3 $ 97,030.58 $ 0.00 % 7.000000301 $ 0.00
A4 $ 100,083.19 $ 0.00 % 6.999999709 $ 0.00
A5 $ 362,420.64 $ 0.00 % 7.000000064 $ 0.00
A6 $ 360,095.61 $ 0.00 % 7.000000023 $ 0.00
S $ 246,847.96 $ 0.00 % 0.492028928 $ 0.00
M $ 52,599.57 $ 0.00 % 6.999999459 $ 0.00
B1 $ 35,692.57 $ 0.00 % 7.000000693 $ 0.00
B2 $ 28,178.34 $ 0.00 % 7.000000437 $ 0.00
B3 $ 18,785.57 $ 0.00 % 6.999999823 $ 0.00
B4 $ 5,635.67 $ 0.00 % 6.999998603 $ 0.00
B5 $ 13,149.89 $ 0.00 % 6.999998128 $ 0.00
20. Principal Distribution Amount: $ 17,321,952.87
-----------------------------
21. Principal Distribution Amount per Certificate:
Principal Distribution
----------------------
Class R $ 0.00
Class PO $ 373.72
Class A1 $ 10,824,623.31
Class A2 $ 6,433,428.37
Class A3 $ 0.00
Class A4 $ 0.00
Class A5 $ 0.00
Class A6 $ 44,493.89
Class S $ 0.00
Class M $ 6,499.27
Class B1 $ 4,410.22
Class B2 $ 3,481.75
Class B3 $ 2,321.17
Class B4 $ 696.35
Class B5 $ 1,624.82
22. Additional distributions to the Class R Certificate pursuant to the
Agreement: $ 0.00
-----------------------
23. Additional distributions to the Class RL Certificate pursuant to the
Agreement: $ 0.00
-----------------------
<PAGE>
24. Subordinate Certificate Writedown Amount: $ 0.00
----------------------
25. Unanticipated Recoveries: $ 0.00
----------------------
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution
Triggers satisfied: Yes No
Class-B1 X
Class-B2 X
Class-B3 X
Class-B4 X
Class-B5 X
2. Base Servicing Fee amount: $ 131,030.55
-----------------------------
3. Supplemental Servicing Fee amount: $ N/A
-----------------------------
4. Credit Losses for prior month: $ 0.00
-----------------------------
Category A Category B Category C
5. Senior Percentage: % 95.742039 N/A N/A N/A
----------- -------- ------- --------
6. Group I Senior
Percentage:
% N/A N/A N/A N/A
----------- -------- ------- --------
7. Group II Senior
Percentage:
% N/A N/A N/A N/A
----------- -------- ------- --------
8. Senior Prepayment
Percentage:
% 100.000000 N/A N/A N/A
----------- -------- ------- --------
9. Group I Senior
Prepayment Percentage: % N/A N/A N/A N/A
----------- -------- ------- --------
10. Group II Senior
Prepayment Percentage: % N/A N/A N/A N/A
----------- -------- ------- --------
11. Junior Percentage: % 4.257961
-----------
12. Junior Prepayment
Percentage:
% 0.000000
-----------
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
----------------------
Karen Pickett
Vice President,
Investor Operations
Exhibit 99.30
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
March, 1998
Series 1997-12, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of December 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
Weighted average coupon % 7.732406
-------------
Weighted average maturity 354.35
-------------
A. Amount of distribution allocable to principal and interest:
The amounts below are for a Single Certificate of $1,000:
1.
Principal
Principal Per Prepayments Per Interest Per
Class Certificate Certificate Certificate Payout Rate
----- ----------- ----------- ----------- -----------
R $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
PO $ 1.02940123 $ 0.15155104 $ 0.00000000 % 0.00000000
A1 $ 34.91813971 $ 34.05444010 $ 5.54620603 % 7.00000000
A2 $ 42.76060580 $ 41.70292288 $ 5.48171846 % 7.00000000
A3 $ 0.00000000 $ 0.00000000 $ 5.83333358 % 7.00000000
A4 $ 0.00000000 $ 0.00000000 $ 5.83333309 % 7.00000000
A5 $ 0.00000000 $ 0.00000000 $ 5.83333339 % 7.00000000
A6 $ 0.71974262 $ 0.70193973 $ 5.82498312 % 7.00000000
S $ 0.00000000 $ 0.00000000 $ 0.39404374 % 0.49202893
M $ 0.71974229 $ 0.00000000 $ 5.82498265 % 7.00000000
B1 $ 0.71974250 $ 0.00000000 $ 5.82498368 % 7.00000000
B2 $ 0.71974205 $ 0.00000000 $ 5.82498346 % 7.00000000
B3 $ 0.71974264 $ 0.00000000 $ 5.82498295 % 7.00000000
B4 $ 0.71974160 $ 0.00000000 $ 5.82498191 % 7.00000000
B5 $ 0.71974340 $ 0.00000000 $ 5.82498154 % 7.00000000
2. Unanticipated Recoveries: $ 0.00
-----------------------
B. Accrual Amount
1.
Accrual
Class Amount
N/A $ N/A
2. The amount of servicing compensation received by the Company
during the month preceding the month of distribution:
$ 131,030.55
-------------------------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance:
$ 603,223,001.68
-------------------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 1,990
-------------------------
3.
Beginning Aggregate Ending Aggregate Ending
Class Certificate Class Certificate Single Certificate
Class Principal Balance Principal Balance Balance Cusip
----- ----------------- ----------------- ------- -----
R $ 0.00 $ 0.00 $ 0.00 36157RCC7
PO $ 362,283.68 $ 361,909.96 $ 996.87 GEC9712PO
A1 $ 294,741,234.34 $ 283,916,611.03 $ 915.86 36157RBT1
A2 $ 141,383,442.53 $ 134,950,014.16 $ 896.96 36157RBU8
A3 $ 16,633,813.00 $ 16,633,813.00 $ 1,000.00 36157RBV6
A4 $ 17,157,119.00 $ 17,157,119.00 $ 1,000.00 36157RBW4
A5 $ 62,129,252.00 $ 62,129,252.00 $ 1,000.00 36157RBX2
A6 $ 61,730,675.80 $ 61,686,181.91 $ 997.85 36157RBY0
<PAGE>
S $ 602,032,797.40 $ 584,730,379.71 $ 933.41 GEC97012S
M $ 9,017,069.84 $ 9,010,570.57 $ 997.85 36157RBZ7
B1 $ 6,118,725.68 $ 6,114,315.46 $ 997.85 36157RCA1
B2 $ 4,830,572.27 $ 4,827,090.52 $ 997.85 36157RCB9
B3 $ 3,220,383.51 $ 3,218,062.34 $ 997.85 36157RCD5
B4 $ 966,115.05 $ 965,418.70 $ 997.85 36157RCE3
B5 $ 2,254,267.46 $ 2,252,642.64 $ 997.85 36157RCF0
D. The aggregate number and aggregate Principal Balances of Mortgage Loans
which, as of the close of business on the last day of the month preceding
the related Determination Date, were delinquent:
1. 30-59 days
Number 19 Principal Balance $ 5,245,387.90
-------- ------------------
2. 60-89 days
Number 3 Principal Balance $ 903,054.12
-------- ------------------
3. 90 days or more
Number 0 Principal Balance $ 0.00
-------- ------------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
-------- ------------------
5. Real Estate Owned
Number 0 Principal Balance $ 0.00
-------- -------------------
6. The Scheduled Principal Balance of any Mortgage Loan replaced pursuant
to the Pooling And Servicing Agreement: $ 0.00
--------------------------
E. Other Information:
1. Special Hazard Loss Amount: $ 6,449,997.00
----------------------
2. Bankruptcy Loss Amount: $ 243,977.00
----------------------
3. Fraud Loss Amount: $ 6,449,997.00
----------------------
4. Certificate Interest Rate of the Class S
Certificate: % 0.49202893
----------------------
Exhibit 99.31
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
March, 1998
Series 1997-13, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of December 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (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 $ 593,479.12
-----------------------------
(b) Interest $ 1,153,430.69
-----------------------------
(c) Total $ 1,746,909.81
-----------------------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 399,458.84
-----------------------------
(b) Interest $ 780,131.85
-----------------------------
(c) Total $ 1,179,590.69
-----------------------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 194,020.28
-----------------------------
(b) Interest $ 373,298.84
-----------------------------
(c) Total $ 567,319.12
-----------------------------
4. Aggregate Principal Prepayments in part received in the
applicable Prepayment Period:
(a) Principal $ 222,058.06
-----------------------------
5. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $ 7,030,191.60
-----------------------------
(b) Interest $ 41,534.83
-----------------------------
(c) Total $ 7,071,726.43
-----------------------------
6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
-----------------------------
(b) Interest $ 0.00
-----------------------------
(c) Total $ 0.00
-----------------------------
<PAGE>
7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
-----------------------------
(b) Interest $ 0.00
-----------------------------
(c) Total $ 0.00
-----------------------------
8. Aggregate Deficient Valuations with respect to the Mortgage
Loans during the prior month: $ 0.00
-----------------------------
9. Aggregate Debt Service Reductions with respect to the Mortgage Loans
during the prior month: $ 0.00
-----------------------------
10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
-----------------------------
(b) Interest $ 0.00
-----------------------------
(c) Total $ 0.00
-----------------------------
11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 0.00
-----------------------------
(b) Interest $ 0.00
-----------------------------
(c) Total $ 0.00
-----------------------------
12. Pool Scheduled Principal Balance: $ 184,253,413.03
----------------------------
13. Available Funds: $ 9,002,902.12
----------------------------
14. Realized Losses for prior month: $ 0.00
----------------------------
15. Aggregate Realized Losses:
(a) Aggregate Realized Losses: $ 0.00
-----------------------------
(b) Deficient Valuations: $ 0.00
-----------------------------
(c) Debt Service Reductions: $ 0.00
-----------------------------
(d) Bankruptcy Losses: $ 0.00
-----------------------------
(e) Special Hazard Losses: $ 0.00
-----------------------------
(f) Fraud Losses: $ 0.00
-----------------------------
(g) Excess Bankruptcy Losses: $ 0.00
-----------------------------
(h) Excess Special Hazard Losses: $ 0.00
-----------------------------
(i) Excess Fraud Losses: $ 0.00
-----------------------------
16. Non-Credit Losses: $ 0.00
-----------------------------
17. Compensating Interest Payment: $ 6,582.00
-----------------------------
18. Total interest payments: $ 1,157,173.35
-----------------------------
<PAGE>
19. Interest
Unpaid Class
Accrued Interest Accrual
Class Certificate Interest Shortfalls Pay-out Rate Amount
- ----- -------------------- ---------- ------------ ------
R $ 0.00 $ 0.00 % 0.000000000 $ 0.00
PO $ 0.00 $ 0.00 % 0.000000000 $ 0.00
A1 $ 754,988.32 $ 0.00 % 6.750000042 $ 0.00
A2 $ 77,652.84 $ 0.00 % 6.750000163 $ 0.00
A3 $ 218,197.14 $ 0.00 % 6.750000135 $ 0.00
S $ 78,288.90 $ 0.00 % 0.521841450 $ 0.00
M $ 11,218.45 $ 0.00 % 6.749997668 $ 0.00
B1 $ 2,804.62 $ 0.00 % 6.750008950 $ 0.00
B2 $ 5,609.23 $ 0.00 % 6.750003685 $ 0.00
B3 $ 3,926.46 $ 0.00 % 6.749997131 $ 0.00
B4 $ 2,243.69 $ 0.00 % 6.749997668 $ 0.00
B5 $ 2,243.70 $ 0.00 % 6.750012353 $ 0.00
20. Principal Distribution Amount: $ 7,845,728.77
-----------------------
21. Principal Distribution Amount per Certificate:
Principal Distribution
----------------------
Class R $ 0.00
Class PO $ 1,390.49
Class A1 $ 7,709,113.98
Class A2 $ 0.00
Class A3 $ 119,822.80
Class S $ 0.00
Class M $ 6,160.60
Class B1 $ 1,540.15
Class B2 $ 3,080.30
Class B3 $ 2,156.21
Class B4 $ 1,232.12
Class B5 $ 1,232.12
22. Additional distributions to the Class R Certificate pursuant to
the Agreement: $ 0.00
-----------------------
23. Additional distributions to the Class RL Certificate pursuant to the
Agreement: $ 0.00
-----------------------
24. Subordinate Certificate Writedown Amount: $ 0.00
-----------------------
25. Unanticipated Recoveries: $ 0.00
-----------------------
<PAGE>
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution
Triggers satisfied: Yes No
Class-B1 X
Class-B2 X
Class-B3 X
Class-B4 X
Class-B5 X
2. Base Servicing Fee amount: $ 42,964.97
-----------------------
3. Supplemental Servicing Fee amount: $ N/A
-----------------------
4. Credit Losses for prior month: $ 0.00
-----------------------
Category A Category B Category C
5. Senior Percentage: % 97.400450 N/A N/A N/A
----------- -------- --------- -------
6. Group I Senior
Percentage:
% N/A N/A N/A N/A
----------- -------- --------- -------
7. Group II Senior
Percentage:
% N/A N/A N/A N/A
----------- -------- --------- -------
8. Senior Prepayment
Percentage:
% 100.000000 N/A N/A N/A
----------- -------- --------- -------
9. Group I Senior
Prepayment Percentage:% N/A N/A N/A N/A
------------ -------- --------- -------
10. Group II Senior
Prepayment Percentage:% N/A N/A N/A N/A
------------ -------- --------- -------
11. Junior Percentage: % 2.599550
------------
12. Junior Prepayment
Percentage:
% 0.000000
------------
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
----------------------
Karen Pickett
Vice President,
Investor Operations
Exhibit 99.32
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
March, 1998
Series 1997-13, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of December 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
Weighted average coupon % 7.493258
------------------
Weighted average maturity 174.00
------------------
A. Amount of distribution allocable to principal and interest:
The amounts below are for a Single Certificate of $1,000:
1.
Principal
Principal Per Prepayments Per Interest Per
Class Certificate Certificate Certificate Payout Rate
----- ----------- ----------- ----------- -----------
R $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
PO $ 4.64014817 $ 1.26798258 $ 0.00000000 % 0.00000000
A1 $ 54.09055838 $ 50.10356985 $ 5.29733247 % 6.75000000
A2 $ 0.00000000 $ 0.00000000 $ 5.62500014 % 6.75000000
A3 $ 3.06991128 $ 2.84362962 $ 5.59030386 % 6.75000000
S $ 0.00000000 $ 0.00000000 $ 0.41529016 % 0.52184145
M $ 3.06990836 $ 0.00000000 $ 5.59030183 % 6.75000000
B1 $ 3.06990530 $ 0.00000000 $ 5.59031121 % 6.75000000
B2 $ 3.06990836 $ 0.00000000 $ 5.59030681 % 6.75000000
B3 $ 3.06990617 $ 0.00000000 $ 5.59030141 % 6.75000000
B4 $ 3.06990836 $ 0.00000000 $ 5.59030183 % 6.75000000
B5 $ 3.06990140 $ 0.00000000 $ 5.59031407 % 6.75000000
2. Unanticipated Recoveries: $ 0.00
-----------------------
B. Accrual Amount
1.
Accrual Amount
Class
N/A $ N/A
2. The amount of servicing compensation received by the Company
during the month preceding the month of distribution:
$ 42,964.97
-------------------------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance:
$ 184,253,413.03
-------------------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 592
-------------------------
<PAGE>
3.
Beginning Aggregate Ending Aggregate Ending
Class Certificate Class Certificate Single Certificate
Class Principal Balance Principal Balance Balance Cusip
- ----- ----------------- ----------------- ------- -----
R $ 0.00 $ 0.00 $ 0.00 36157NFB5
PO $ 297,463.88 $ 296,073.39 $ 988.01 GEC9713PO
A1 $ 134,220,144.94 $ 126,511,030.96 $ 887.66 36157NEV2
A2 $ 13,804,949.00 $ 13,804,949.00 $ 1,000.00 36157NEW0
A3 $ 38,790,601.89 $ 38,670,779.09 $ 990.76 36157NEX8
S $ 180,029,163.88 $ 172,232,507.75 $ 913.62 GEC97013S
M $ 1,994,391.80 $ 1,988,231.19 $ 990.76 36157NEY6
B1 $ 498,598.45 $ 497,058.29 $ 990.76 36157NEZ3
B2 $ 997,195.90 $ 994,115.60 $ 990.76 36157NFA7
B3 $ 698,037.63 $ 695,881.41 $ 990.76 36157NFC3
B4 $ 398,878.36 $ 397,646.24 $ 990.76 36157NFD1
B5 $ 398,879.27 $ 397,647.14 $ 990.76 36157NFE9
D. The aggregate number and aggregate Principal Balances of Mortgage Loans
which, as of the close of business on the last day of the month preceding
the related Determination Date, were delinquent:
1. 30-59 days
Number 2 Principal Balance $ 828,008.40
-------- ----------------
2. 60-89 days
Number 0 Principal Balance $ 0.00
-------- ----------------
3. 90 days or more
Number 0 Principal Balance $ 0.00
-------- ----------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
-------- ----------------
5. Real Estate Owned
Number 0 Principal Balance $ 0.00
-------- ----------------
6. The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to the Pooling And Servicing Agreement:
$ 0.00
----------------
E. Other Information:
1. Special Hazard Loss Amount: $ 2,030,000.00
------------------
2. Bankruptcy Loss Amount: $ 100,000.00
------------------
3. Fraud Loss Amount: $ 2,006,754.00
------------------
4. Certificate Interest Rate of the Class S
Certificate: % 0.52184145
------------------
Exhibit 99.33
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
March 1998
Home Equity Loan Pass-Through Certificates
Series 1997-HE4
Pursuant to the Pooling and Servicing Agreement dated as of December 1,
1997 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company"), and The First National Bank of Chicago (the "Trustee"), governing
the Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
(1) Aggregate Monthly Payments Due: $ 1,717,097.42
(2) Aggregate Monthly Payments received and Monthly Advances made this
Month:
(a) Principal $ 242,344.78
(b) Interest $ 1,442,076.61
(c) Total $ 1,684,421.39
(3) Aggregate Principal Prepayments in part received on Self- Amortizing
Mortgage Loans and applied in the applicable Prepayment Period:
(a) Principal $ 41,079.41
(c) Total $ 41,079.41
(4) Aggregate Principal Prepayments in full received in the applicable
Prepayment period:
(a) Principal $ 1,266,442.46
(b) Interest $ 11,377.94
(c) Total $ 1,277,820.40
(5) Aggregate Insurance Proceeds (inculding purchases of Mortgage Loans by
primary mortgage insurers) for prior month:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(6) Aggregate Liquidation Proceeds for prior month:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(7) Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
<PAGE>
(8) Aggregate Purchase Prices for (and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(9) Aggregate Purchase Prices for for Document Deficiencies per Sec. 2.02:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(10) Pool Principal Balance: $ 183,867,499.02
(11) Available Funds: $ 2,924,508.95
(12) Realized Losses for prior month: $ 0.00
(13) Aggregate Realized Losses: $ 0.00
(a) Deficient Valuations $ 0.00
(b) Special Hazard Losses $ 0.00
(c) Fraud Losses $ 0.00
(d) Excess Bankruptcy Losses $ 0.00
(e) Excess Special Hazard Losses $ 0.00
(f) Excess Fraud Losses $ 0.00
(14) Compensating Interest Payment: $ 1,953.74
(15) Net Simple Interest Shortfall: $ (0.00)
(16) Net Simple Interest Excess: $ 0.00
(17) Simple Interest Shortfall Payment: $ (0.00)
(18) Unpaid Net Simple Interest Shortfall:
Class A1 36157NFF6 $ 0.00
Class A2 36157NFG4 $ 0.00
Class A3 36157NFH2 $ 0.00
Class A4 36157NFJ8 $ 0.00
Class A5 36157NFK5 $ 0.00
Class A6 36157NFL3 $ 0.00
Class A7 36157NFM1 $ 0.00
Class S 36197HE4 $ 0.00
Class M 36157NFQ2 $ 0.00
Class B1 36157NFR0 $ 0.00
Class B2 36157NFS8 $ 0.00
Class B3 36157NFT6 $ 0.00
Class B4 36157NFU3 $ 0.00
Class B5 36157NFV1 $ 0.00
<PAGE>
(19) Class Certificate Interest Rate:
Class M 36157NFQ2 7.135%
Class B1 36157NFR0 7.330%
Class B2 36157NFS8 7.675%
Class B3 36157NFT6 8.972%
Class B4 36157NFU3 8.972%
Class B5 36157NFV1 8.972%
Class S 36197HE4 2.10%
(20) Accrued Certificate Interest and Pay-out Rate:
Class A1 36157NFF6 $ 311,009.03 6.825%
Class A2 36157NFG4 $ 109,416.67 6.565%
Class A3 36157NFH2 $ 164,750.00 6.590%
Class A4 36157NFJ8 $ 56,375.00 6.765%
Class A5 36157NFK5 $ 75,933.33 6.800%
Class A6 36157NFL3 $ 139,880.73 7.170%
Class A7 36157NFM1 $ 95,766.09 6.735%
Class S 36197HE4 $ 321,862.77 2.10%
Class M 36157NFQ2 $ 27,583.86 7.135%
Class B1 36157NFR0 $ 25,506.40 7.330%
Class B2 36157NFS8 $ 11,871.15 7.675%
Class B3 36157NFT6 $ 13,876.52 8.972%
Class B4 36157NFU3 $ 10,403.66 8.972%
Class B5 36157NFV1 $ 10,407.10 8.972%
Total $ 1,374,642.30
(21) Principal distributable:
Class A1 36157NFF6 $ 1,592,686.67
Class A2 36157NFG4 $ 0.00
Class A3 36157NFH2 $ 0.00
Class A4 36157NFJ8 $ 0.00
Class A5 36157NFK5 $ 0.00
Class A6 36157NFL3 $ 0.00
Class A7 36157NFM1 $ 0.00
Class M 36157NFQ2 $ 6,114.64
Class B1 36157NFR0 $ 5,503.70
Class B2 36157NFS8 $ 2,446.38
Class B3 36157NFT6 $ 2,446.38
Class B4 36157NFU3 $ 1,834.13
Class B5 36157NFV1 $ 1,834.74
Class R1 36157NFN9 $ 0.00
Class R2 36157NFP4 $ 0.00
Total $ 1,549,866.65
(22) Additional distributions to the Class R1 Certificate pursuant to
Section 2.05 (d) : $ 0.00
(23) Additional distributions to the Class R2 Certificate pursuant to
Section 4.01 (b) : $ 0.00
<PAGE>
B. Other Amounts:
1) Senior Percentage for such Distribution Date: 91.673030%
2) Senior Prepayment Percentage for such Distribution Date: 100.000000%
3) Junior Percentage for such Distribution Date: 8.326970%
4) Junior Prepayment Percentage for such Distribution Date: 0.000000%
5) Subordinate Certfificate Writedown Amount for such
Distribution Date: 0.000000%
6) Prepayment Distribution Triggers satisfied:
Yes No
--- --
Class B1 X
Class B2 X
Class B3 X
Class B4 X
Class B5 X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
----------------------------------------
Name: Karen Pickett
Title: Vice President,
Investor Operations
Exhibit 99.34
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
March 1998
Home Equity Loan Pass-Through Certificates
Series 1997-HE4
Pursuant to the Pooling and Servicing Agreement dated as of December 1,
1997 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company"), and The First National Bank of Chicago (the "Trustee"), governing
the Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
The amounts below are for a Single Certificate of $1,000:
(1) Amount of distribution allocable to principal:
Class A1 36157NFF6 $ 26.88377280
Class A2 36157NFG4 $ 0.00000000
Class A3 36157NFH2 $ 0.00000000
Class A4 36157NFJ8 $ 0.00000000
Class A5 36157NFK5 $ 0.00000000
Class A6 36157NFL3 $ 0.00000000
Class A7 36157NFM1 $ 0.00000000
Class M 36157NFQ2 $ 1.31384672
Class B1 36157NFR0 $ 1.31384672
Class B2 36157NFS8 $ 1.31384672
Class B3 36157NFT6 $ 1.31384672
Class B4 36157NFU3 $ 1.31384672
Class B5 36157NFV1 $ 1.31384672
Class R1 36157NFN9 $ 0.00000000
Class R2 36157NFP4 $ 0.00000000
(2) Aggregate Principal prepayments included in distribution:
Class A1 36157NFF6 $ 1,307,521.87
Class A2 36157NFG4 $ 0.00
Class A3 36157NFH2 $ 0.00
Class A4 36157NFJ8 $ 0.00
Class A5 36157NFK5 $ 0.00
Class A6 36157NFL3 $ 0.00
Class A7 36157NFM1 $ 0.00
Class M 36157NFQ2 $ 0.00
Class B1 36157NFR0 $ 0.00
Class B2 36157NFS8 $ 0.00
Class B3 36157NFT6 $ 0.00
Class B4 36157NFU3 $ 0.00
Class B5 36157NFV1 $ 0.00
Class R1 36157NFN9 $ 0.00
Class R2 36157NFP4 $ 0.00
(3) Amount of distribution allocable to interest Pay-out Rate:
Class A1 36157NFF6 $ 5.46588811 6.825%
Class A2 36157NFG4 $ 5.47083333 6.565%
Class A3 36157NFH2 $ 5.49166667 6.590%
Class A4 36157NFJ8 $ 5.63750000 6.765%
Class A5 36157NFK5 $ 5.66666667 6.800%
Class A6 36157NFL3 $ 5.97500000 7.170%
Class A7 36157NFM1 $ 5.61250000 6.735%
Class S 36197HE4 $ 1.75051476 2.10%
Class M 36157NFQ2 $ 5.92691545 7.135%
Class B1 36157NFR0 $ 6.08889842 7.330%
Class B2 36157NFS8 $ 6.37548368 7.675%
Class B3 36157NFT6 $ 7.45247857 8.972%
Class B4 36157NFU3 $ 7.45247857 8.972%
Class B5 36157NFV1 $ 7.45247857 8.972%
(4) Servicing Compensation: $ 78,328.29
The amounts below are for the aggregate of all Certificates:
<PAGE>
(5) Pool Principal Balance; $ 183,867,499.02
number of Mortgage Loans: 2,792
(6) Class Certificate Principal Balance of each Class; Certificate
Principal Balance of Single Certificate of each class:
Single
Certificate
Class Cusip# Class Balance Balance
----- ------ ------------- -------
Class A1 36157NFF6 $ 53,153,220.30 $ 934.15149916
Class A2 36157NFG4 $ 20,000,000.00 $ 1,000.00000000
Class A3 36157NFH2 $ 30,000,000.00 $ 1,000.00000000
Class A4 36157NFJ8 $ 10,000,000.00 $ 1,000.00000000
Class A5 36157NFK5 $ 13,400,000.00 $ 1,000.00000000
Class A6 36157NFL3 $ 23,411,000.00 $ 1,000.00000000
Class A7 36157NFM1 $ 17,063,000.00 $ 1,000.00000000
Class M 36157NFQ2 $ 4,633,077.71 $ 995.50444896
Class B1 36157NFR0 $ 4,170,168.14 $ 995.50444896
Class B2 36157NFS8 $ 1,853,629.28 $ 995.50444896
Class B3 36157NFT6 $ 1,853,629.28 $ 995.50444896
Class B4 36157NFU3 $ 1,389,724.21 $ 995.50444896
Class B5 36157NFV1 $ 1,390,183.45 $ 995.50444896
Class R1 36157NFN9 $ 0.00 $ 0.00000000
Class R2 36157NFP4 $ 0.00 $ 0.00000000
(7) Book value of real estate acquired on behalf of Certificate-
holders; $ 0.00
number of related Mortgage Loans: 0
(8) Aggregate Scheduled Principal Balance and number of delinquent
Mortgage Loans:
One Payment Delinquent $ 672,701.31
13
Two Payments Delinquent $ 160,898.98
2
Three or more Payments Delinquent $ 0.00
0
TOTAL $ 833,600.29
15
In foreclosure $ 124,911.34
1
<PAGE>
(9) Aggregate Scheduled Principal Balance and number of replaced Mortgage
Loans: $ 0.00
0
(10) Unpaid Net Simple Interest Shortfall:
Class A1 36157NFF6 $ 0.00
Class A2 36157NFG4 $ 0.00
Class A3 36157NFH2 $ 0.00
Class A4 36157NFJ8 $ 0.00
Class A5 36157NFK5 $ 0.00
Class A6 36157NFL3 $ 0.00
Class A7 36157NFM1 $ 0.00
Class S 36197HE4 $ 0.00
Class M 36157NFQ2 $ 0.00
Class B1 36157NFR0 $ 0.00
Class B2 36157NFS8 $ 0.00
Class B3 36157NFT6 $ 0.00
Class B4 36157NFU3 $ 0.00
Class B5 36157NFV1 $ 0.00
(11) Class Certificate Interest Rate of:
Class M 36157NFQ2 7.135%
Class B1 36157NFR0 7.330%
Class B2 36157NFS8 7.675%
Class B3 36157NFT6 8.972%
Class B4 36157NFU3 8.972%
Class B5 36157NFV1 8.972%
Class S 36197HE4 2.10%
(12) Senior Percentage for such Distribution Date: 91.673030%
(13) Senior Prepayment Percentage for such Distribution
Date: 100.000000%
(14) Junior Percentage for such Distribution Date: 8.326970%
(15) Junior Prepayment Percentage for such Distribution Date: 0.000000%
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
------------------------------------
Name: Karen Pickett
Title: Vice President,
Investor Operations
Exhibit 99.35
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
March, 1998
Series 1998-01, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1998 (the
"Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (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 $ 611,562.94
-------------------------------
(b) Interest $ 1,188,762.85
-------------------------------
(c) Total $ 1,800,325.79
-------------------------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 233,131.71
-------------------------------
(b) Interest $ 447,128.67
-------------------------------
(c) Total $ 680,260.38
-------------------------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 378,431.23
-------------------------------
(b) Interest $ 741,634.18
-------------------------------
(c) Total $ 1,120,065.41
-------------------------------
4. Aggregate Principal Prepayments in part received in the
applicable Prepayment Period:
(a) Principal $ 255,537.70
-------------------------------
5. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $ 4,153,354.14
-------------------------------
(b) Interest $ 22,136.36
-------------------------------
(c) Total $ 4,175,490.50
-------------------------------
6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
-------------------------------
(b) Interest $ 0.00
-------------------------------
(c) Total $ 0.00
-------------------------------
<PAGE>
7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
-------------------------------
(b) Interest $ 0.00
-------------------------------
(c) Total $ 0.00
-------------------------------
8. Aggregate Deficient Valuations with respect to the Mortgage
Loans during the prior month: $ 0.00
-------------------------------
9. Aggregate Debt Service Reductions with respect to the Mortgage Loans
during the prior month: $ 0.00
-------------------------------
10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
-------------------------------
(b) Interest $ 0.00
-------------------------------
(c) Total $ 0.00
-------------------------------
11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 0.00
-------------------------------
(b) Interest $ 0.00
-------------------------------
(c) Total $ 0.00
-------------------------------
12. Pool Scheduled Principal Balance: $ 190,917,236.96
------------------------------
13. Available Funds: $ 6,121,725.68
------------------------------
14. Realized Losses for prior month: $ 0.00
------------------------------
15. Aggregate Realized Losses:
(a) Aggregate Realized Losses: $ 0.00
-------------------------------
(b) Deficient Valuations: $ 0.00
-------------------------------
(c) Debt Service Reductions: $ 0.00
-------------------------------
(d) Bankruptcy Losses: $ 0.00
-------------------------------
(e) Special Hazard Losses: $ 0.00
-------------------------------
(f) Fraud Losses: $ 0.00
-------------------------------
(g) Excess Bankruptcy Losses: $ 0.00
-------------------------------
(h) Excess Special Hazard Losses:$ 0.00
-------------------------------
(i) Excess Fraud Losses: $ 0.00
-------------------------------
16. Non-Credit Losses: $ 0.00
-------------------------------
17. Compensating Interest Payment: $ 3,279.31
-------------------------------
18. Total interest payments: $ 1,101,270.89
-------------------------------
<PAGE>
19. Interest
Unpaid Class
Accrued Certificate Interest Accrual
Class Interest Shortfalls Pay-out Rate Amount
- ----- -------- ---------- ------------ ------
R $ 0.00 $ 0.00 % 0.000000000 $ 0.00
PO $ 0.00 $ 0.00 % 0.000000000 $ 0.00
A1 $ 344,875.88 $ 0.00 % 6.749999954 $ 0.00
A2 $ 582,131.50 $ 0.00 % 6.749999974 $ 0.00
A3 $ 149,004.82 $ 0.00 % 6.750000091 $ 0.00
M $ 8,419.41 $ 0.00 % 6.750000586 $ 0.00
B1 $ 5,612.93 $ 0.00 % 6.749999812 $ 0.00
B2 $ 2,806.45 $ 0.00 % 6.749997354 $ 0.00
B3 $ 4,490.35 $ 0.00 % 6.750000376 $ 0.00
B4 $ 1,683.87 $ 0.00 % 6.749997445 $ 0.00
B5 $ 2,245.70 $ 0.00 % 6.750006011 $ 0.00
20. Principal Distribution Amount: $ 5,020,454.79
------------------------
21. Principal Distribution Amount per Certificate:
Principal Distribution
----------------------
Class R $ 0.00
Class PO $ 569.82
Class A1 $ 1,604,446.57
Class A2 $ 3,318,752.25
Class A3 $ 82,671.92
Class SUP $ 0.00
Class M $ 4,671.32
Class B1 $ 3,114.21
Class B2 $ 1,557.10
Class B3 $ 2,491.37
Class B4 $ 934.26
Class B5 $ 1,245.97
22. Additional distributions to the Class R Certificate pursuant to the
Agreement:
$ 0.00
-----------------------
23. Additional distributions to the Class RL Certificate pursuant to the
Agreement: $ 0.00
-----------------------
24. Subordinate Certificate Writedown Amount: $ 0.00
-----------------------
25. Unanticipated Recoveries: $ 0.00
-----------------------
<PAGE>
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution
Triggers satisfied: Yes No
Class-B1 X
Class-B2 X
Class-B3 X
Class-B4 X
Class-B5 X
2. Base Servicing Fee amount: $ 44,541.00
----------------
3. Supplemental Servicing Fee amount: $ 69,163.39
----------------
4. Credit Losses for prior month: $ 0.00
----------------
Category A Category B Category C
5. Senior Percentage: % 97.706404 N/A N/A N/A
----------- -------- ------- -------
6. Group I Senior
Percentage:
% N/A N/A N/A N/A
----------- -------- ------- -------
7. Group II Senior
Percentage:
% N/A N/A N/A N/A
----------- -------- ------- -------
8. Senior Prepayment
Percentage:
%100.000000 N/A N/A N/A
----------- -------- ------- -------
9. Group I Senior Prepayment
Percentage: % N/A N/A N/A N/A
----------- -------- ------- -------
10. Group II Senior
Prepayment Percentage: % N/A N/A N/A N/A
----------- -------- ------- -------
11. Junior Percentage: % 2.293596
-----------
12. Junior Prepayment
Percentage:
% 0.000000
-----------
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
----------------------
Karen Pickett
Vice President,
Investor Operations
Exhibit 99.36
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
March, 1998
Series 1998-01, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1998 (the
"Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
Weighted average coupon % 7.443649
------------------
Weighted average maturity 174.76
------------------
A. Amount of distribution allocable to principal and interest:
The amounts below are for a Single Certificate of $1,000:
1.
Principal
Principal Per Prepayments Per Interest Per
Class Certificate Certificate Certificate Payout Rate
----- ----------- ----------- ----------- -----------
R $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
PO $ 3.63502979 $ 0.13976958 $ 0.00000000 % 0.00000000
A1 $ 25.60150902 $ 22.54826967 $ 5.50304580 % 6.75000000
A2 $ 31.22410694 $ 27.50031584 $ 5.47691869 % 6.75000000
A3 $ 3.11123488 $ 2.74018875 $ 5.60757502 % 6.75000000
M $ 3.11123692 $ 0.00000000 $ 5.60757542 % 6.75000000
B1 $ 3.11123877 $ 0.00000000 $ 5.60757477 % 6.75000000
B2 $ 3.11124432 $ 0.00000000 $ 5.60757281 % 6.75000000
B3 $ 3.11123738 $ 0.00000000 $ 5.60757526 % 6.75000000
B4 $ 3.11124432 $ 0.00000000 $ 5.60757281 % 6.75000000
B5 $ 3.11122428 $ 0.00000000 $ 5.60757992 % 6.75000000
2. Unanticipated Recoveries: $ 0.00
---------------
B. Accrual Amount
1.
Accrual Amount
Class
N/A $ N/A
2. The amount of servicing compensation received by the Company
during the month preceding the month of distribution:
$ 44,541.00
------------------------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 190,917,236.96
------------------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 588
------------------------
<PAGE>
3.
Beginning Aggregate Ending Aggregate Ending
Class Certificate Class Certificate Single Certificate
Class Principal Balance Principal Balance Balance Cusip
- ----- ----------------- ----------------- ------- -----
R $ 0.00 $ 0.00 $ 0.00 36157RCN3
PO $ 156,195.40 $ 155,625.58 $ 992.78 GEC9801PO
A1 $ 61,311,267.97 $ 59,706,821.40 $ 952.72 36157RCK9
A2 $ 103,490,044.84 $ 100,171,292.59 $ 942.45 36157RCL7
A3 $ 26,489,745.42 $ 26,407,073.50 $ 993.79 36157RCM5
SUP $ 183,444,542.42 $ 178,468,932.01 $ 951.05 GEC98001S
M $ 1,496,783.87 $ 1,492,112.56 $ 993.79 36157RCP8
B1 $ 997,854.25 $ 994,740.05 $ 993.79 36157RCQ6
B2 $ 498,924.64 $ 497,367.54 $ 993.79 36157RCR4
B3 $ 798,284.40 $ 795,793.03 $ 993.79 36157RCG8
B4 $ 299,354.78 $ 298,420.52 $ 993.79 36157RCH6
B5 $ 399,235.20 $ 397,989.23 $ 993.79 36157RCJ2
D. The aggregate number and aggregate Principal Balances of Mortgage Loans
which, as of the close of business on the last day of the month preceding
the related Determination Date, were delinquent:
1. 30-59 days
Number 3 Principal Balance $ 903,997.42
-------- ---------------
2. 60-89 days
Number 0 Principal Balance $ 0.00
-------- ---------------
3. 90 days or more
Number 0 Principal Balance $ 0.00
-------- ---------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
-------- ---------------
5. Real Estate Owned
Number 0 Principal Balance $ 0.00
-------- ---------------
6. The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to the Pooling And Servicing Agreement:
$ 0.00
---------------
E. Other Information:
1. Special Hazard Loss Amount: $ 2,621,837.00
--------------
2. Bankruptcy Loss Amount: $ 100,000.00
--------------
3. Fraud Loss Amount: $ 2,001,914.00
--------------
4. Certificate Interest Rate of the Class S
Certificate: % 0.00000000
--------------
Exhibit 99.37
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
March, 1998
Series 1998-02, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1998 (the
"Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (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 $ 318,791.66
--------------------------
(b) Interest $ 2,785,131.78
--------------------------
(c) Total $ 3,103,923.44
--------------------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 287,214.28
--------------------------
(b) Interest $ 2,513,762.05
--------------------------
(c) Total $ 2,800,976.33
--------------------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 31,577.38
--------------------------
(b) Interest $ 271,369.73
--------------------------
(c) Total $ 302,947.11
--------------------------
4. Aggregate Principal Prepayments in part received in the
applicable Prepayment Period:
(a) Principal $ 87,339.89
--------------------------
5. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $ 11,680,780.63
--------------------------
(b) Interest $ 74,851.97
--------------------------
(c) Total $ 11,755,632.60
--------------------------
6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
--------------------------
(b) Interest $ 0.00
--------------------------
(c) Total $ 0.00
--------------------------
<PAGE>
7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
--------------------------
(b) Interest $ 0.00
--------------------------
(c) Total $ 0.00
--------------------------
8. Aggregate Deficient Valuations with respect to the Mortgage
Loans during the prior month: $ 0.00
--- ----------------------
9. Aggregate Debt Service Reductions with respect to the Mortgage Loans
during the prior month: $ 0.00
--------------------------
10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
--------------------------
(b) Interest $ 0.00
--------------------------
(c) Total $ 0.00
--------------------------
11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 0.00
--------------------------
(b) Interest $ 0.00
--------------------------
(c) Total $ 0.00
--------------------------
12. Pool Scheduled Principal Balance: $ 432,872,708.11
-------------------------
13. Available Funds: $ 14,680,813.56
-------------------------
14. Realized Losses for prior month: $ 0.00
-------------------------
15. Aggregate Realized Losses:
(a) Aggregate Realized Losses: $ 0.00
------------------------
(b) Deficient Valuations: $ 0.00
------------------------
(c) Debt Service Reductions: $ 0.00
------------------------
(d) Bankruptcy Losses: $ 0.00
------------------------
(e) Special Hazard Losses: $ 0.00
------------------------
(f) Fraud Losses: $ 0.00
------------------------
(g) Excess Bankruptcy Losses: $ 0.00
------------------------
(h) Excess Special Hazard Losses: $ 0.00
------------------------
(i) Excess Fraud Losses: $ 0.00
------------------------
16. Non-Credit Losses: $ 0.00
------------------------
17. Compensating Interest Payment: $ 9,486.73
------------------------
18. Total interest payments: $ 2,593,901.37
------------------------
<PAGE>
19. Interest
Unpaid Class
Accrued Certificate Interest Accrual
Class Interest Shortfalls Pay-out Rate Amount
- ----- -------- ---------- ------------ ------
R $ 0.00 $ 0.00 % 0.000000000 $ 0.00
PO $ 0.00 $ 0.00 % 0.000000000 $ 0.00
A1 $ 118,887.08 $ 0.00 % 6.999999937 $ 0.00
A2 $ 21,583.33 $ 0.00 % 6.999998919 $ 0.00
A3 $ 145,593.38 $ 0.00 % 6.999999908 $ 0.00
A4 $ 143,272.50 $ 0.00 % 7.000000000 $ 0.00
A5 $ 198,686.24 $ 0.00 % 6.999999853 $ 0.00
A6 $ 367,452.46 $ 0.00 % 6.999999982 $ 0.00
A7 $ 57,166.67 $ 0.00 % 7.000000408 $ 0.00
A8 $ 5,942.70 $ 0.00 % 7.249995654 $ 0.00
A9 $ 28,484.02 $ 0.00 % 6.949999636 $ 0.00
A10 $ 19,250.00 $ 0.00 % 7.000000000 $ 0.00
A11 $ 128,469.24 $ 0.00 % 6.999999868 $ 0.00
A12 $ 1,247,433.21 $ 0.00 % 7.000000022 $ 0.00
M $ 45,986.08 $ 0.00 % 7.000000533 $ 0.00
B1 $ 26,277.76 $ 0.00 % 7.000000539 $ 0.00
B2 $ 13,138.88 $ 0.00 % 7.000000524 $ 0.00
B3 $ 13,138.88 $ 0.00 % 7.000000524 $ 0.00
B4 $ 3,940.50 $ 0.00 % 7.000003790 $ 0.00
B5 $ 9,198.48 $ 0.00 % 6.999996208 $ 0.00
20. Principal Distribution Amount: $ 12,086,912.19
--------------------------
21. Principal Distribution Amount per Certificate:
Principal Distribution
----------------------
Class R $ 0.00
Class PO $ 286.18
Class A1 $ 855,344.19
Class A2 $ 0.00
Class A3 $ 798,743.89
Class A4 $ 0.00
Class A5 $ 0.00
Class A6 $ 2,730,576.64
Class A7 $ 0.00
Class A8 $ 34,133.75
Class A9 $ 170,668.93
Class A10 $ 0.00
Class A11 $ 15,776.72
Class A12 $ 7,467,666.91
Class SUP $ 0.00
Class M $ 5,647.34
Class B1 $ 3,227.05
Class B2 $ 1,613.53
Class B3 $ 1,613.53
Class B4 $ 483.91
Class B5 $ 1,129.62
<PAGE>
22. Additional distributions to the Class R Certificate pursuant to the
Agreement: $ 0.00
-----------------------
23. Additional distributions to the Class RL Certificate pursuant to the
Agreement: $ 0.00
-----------------------
24. Subordinate Certificate Writedown Amount: $ 0.00
-----------------------
25. Unanticipated Recoveries: $ 0.00
-----------------------
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution
Triggers satisfied: Yes No
Class-B1 X
Class-B2 X
Class-B3 X
Class-B4 X
Class-B5 X
2. Base Servicing Fee amount: $ 93,061.88
-------------------------
3. Supplemental Servicing Fee amount: $ 173,664.53
-------------------------
4. Credit Losses for prior month: $ 0.00
-------------------------
Category A Category B Category C
5. Senior Percentage: % 95.694494 N/A N/A N/A
----------- -------- --------- --------
6. Group I Senior
Percentage: % N/A N/A N/A N/A
----------- -------- --------- --------
7. Group II Senior
Percentage: % N/A N/A N/A N/A
----------- -------- --------- --------
8. Senior Prepayment
Percentage: % 100.000000 N/A N/A N/A
----------- -------- --------- --------
9. Group I Senior
Prepayment
Percentage: % N/A N/A N/A N/A
----------- -------- --------- --------
10. Group II Senior
Prepayment
Percentage: % N/A N/A N/A N/A
----------- -------- --------- --------
11. Junior Percentage: % 4.305506
-----------
12. Junior Prepayment
Percentage:
% 0.000000
-----------
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
----------------------
Karen Pickett
Vice President,
Investor Operations
Exhibit 99.38
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
March, 1998
Series 1998-02, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1998 (the
"Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
Weighted average coupon % 7.721251
-------------------
Weighted average maturity 355.20
-------------------
A. Amount of distribution allocable to principal and interest:
The amounts below are for a Single Certificate of $1,000:
1.
Principal
Principal Per Prepayments Per Interest Per
Class Certificate Certificate Certificate Payout Rate
----- ----------- ----------- ----------- -----------
R $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
PO $ 0.98318303 $ 0.13601306 $ 0.00000000 % 0.00000000
A1 $ 41.13531598 $ 40.09668680 $ 5.71753180 % 7.00000000
A2 $ 0.00000000 $ 0.00000000 $ 5.83333243 % 7.00000000
A3 $ 31.51567757 $ 30.71993524 $ 5.74461236 % 7.00000000
A4 $ 0.00000000 $ 0.00000000 $ 5.83333333 % 7.00000000
A5 $ 0.00000000 $ 0.00000000 $ 5.83333321 % 7.00000000
A6 $ 42.46480027 $ 41.39260232 $ 5.71446891 % 7.00000000
A7 $ 0.00000000 $ 0.00000000 $ 5.83333367 % 7.00000000
A8 $ 34.13378413 $ 33.27193327 $ 5.94270594 % 7.25000000
A9 $ 34.13378600 $ 33.27193800 $ 5.69680400 % 6.95000000
A10 $ 0.00000000 $ 0.00000000 $ 5.83333333 % 7.00000000
A11 $ 0.71584988 $ 0.69777522 $ 5.82913875 % 7.00000000
A12 $ 34.34199545 $ 33.47489106 $ 5.73664387 % 7.00000000
M $ 0.71584992 $ 0.00000000 $ 5.82913931 % 7.00000000
B1 $ 0.71584960 $ 0.00000000 $ 5.82913931 % 7.00000000
B2 $ 0.71585182 $ 0.00000000 $ 5.82913931 % 7.00000000
B3 $ 0.71585182 $ 0.00000000 $ 5.82913931 % 7.00000000
B4 $ 0.71584320 $ 0.00000000 $ 5.82914201 % 7.00000000
B5 $ 0.71584743 $ 0.00000000 $ 5.82913569 % 7.00000000
2. Unanticipated Recoveries: $ 0.00
---------------------
<PAGE>
B. Accrual Amount
1.
Accrual Amount
Class
N/A $ N/A
2. The amount of servicing compensation received by the Company
during the month preceding the month of distribution:
$ 93,061.88
----------------------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 432,872,708.11
----------------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 1,445
----------------------
3.
Beginning Aggregate Ending Aggregate Ending
Class Certificate Class Certificate Single Certificate
Class Principal Balance Principal Balance Balance Cusip
- ----- ----------------- ----------------- ------- -----
R $ 0.00 $ 0.00 $ 0.00 36157RDE2
PO $ 290,803.69 $ 290,517.51 $ 998.08 GEC9802PO
A1 $ 20,380,642.47 $ 19,525,298.28 $ 939.01 36157RCS2
A2 $ 3,700,000.00 $ 3,700,000.00 $ 1,000.00 36157RCT0
A3 $ 24,958,865.47 $ 24,160,121.58 $ 953.28 36157RCU7
A4 $ 24,561,000.00 $ 24,561,000.00 $ 1,000.00 36157RCV5
A5 $ 34,060,499.00 $ 34,060,499.00 $ 1,000.00 36157RCW3
A6 $ 62,991,850.45 $ 60,261,273.81 $ 937.16 36157RCX1
A7 $ 9,800,000.00 $ 9,800,000.00 $ 1,000.00 36157RCY9
A8 $ 983,619.90 $ 949,486.15 $ 949.49 36157RCZ6
A9 $ 4,918,104.43 $ 4,747,435.50 $ 949.49 36157RDA0
A10 $ 3,300,000.00 $ 3,300,000.00 $ 1,000.00 36157RDB8
A11 $ 22,023,298.70 $ 22,007,521.98 $ 998.57 36157RDC6
A12 $ 213,845,692.46 $ 206,378,025.55 $ 949.08 36157RDD4
SUP $ 431,715,139.34 $ 419,641,282.27 $ 959.08 GEC98002S
M $ 7,883,327.40 $ 7,877,680.06 $ 998.57 36157RDF9
B1 $ 4,504,758.51 $ 4,501,531.46 $ 998.57 36157RDG7
B2 $ 2,252,379.26 $ 2,250,765.73 $ 998.57 36157RDH5
B3 $ 2,252,379.26 $ 2,250,765.73 $ 998.57 36157RDJ1
B4 $ 675,513.92 $ 675,030.01 $ 998.57 36157RDK8
B5 $ 1,576,883.14 $ 1,575,753.52 $ 998.57 36157RDL6
D. The aggregate number and aggregate Principal Balances of Mortgage Loans
which, as of the close of business on the last day of the month preceding
the related Determination Date, were delinquent:
1. 30-59 days
Number 14 Principal Balance $ 3,807,842.50
-------- ------------------
2. 60-89 days
Number 2 Principal Balance $ 568,621.86
-------- ------------------
3. 90 days or more
Number 0 Principal Balance $ 0.00
-------- ------------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
-------- ------------------
5. Real Estate Owned
Number 0 Principal Balance $ 0.00
-------- ------------------
<PAGE>
6. The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to the Pooling And Servicing Agreement:
$ 0.00
---------------------
E. Other Information:
1. Special Hazard Loss Amount: $ 4,508,007.00
---------------------
2. Bankruptcy Loss Amount: $ 173,734.00
---------------------
3. Fraud Loss Amount: $ 4,508,007.00
---------------------
4. Certificate Interest Rate of the Class S
Certificate: % 0.00000000
---------------------
Exhibit 99.39
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
March, 1998
Series 1998-03, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1998 (the
"Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (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 $ 229,408.54
-----------------------
(b) Interest $ 1,957,779.27
-----------------------
(c) Total $ 2,187,187.81
-----------------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 193,427.28
-----------------------
(b) Interest $ 1,651,548.77
-----------------------
(c) Total $ 1,844,976.05
-----------------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 35,981.26
-----------------------
(b) Interest $ 306,230.50
-----------------------
(c) Total $ 342,211.76
-----------------------
4. Aggregate Principal Prepayments in part received in the
applicable Prepayment Period:
(a) Principal $ 276,801.06
-----------------------
5. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $ 2,105,525.77
-----------------------
(b) Interest $ 13,230.68
-----------------------
(c) Total $ 2,118,756.45
-----------------------
6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
-----------------------
(b) Interest $ 0.00
-----------------------
(c) Total $ 0.00
-----------------------
<PAGE>
7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
-----------------------
(b) Interest $ 0.00
-----------------------
(c) Total $ 0.00
-----------------------
8. Aggregate Deficient Valuations with respect to the Mortgage
Loans during the prior month: $ 0.00
-----------------------
9. Aggregate Debt Service Reductions with respect to the Mortgage Loans
during the prior month: $ 0.00
-----------------------
10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
-----------------------
(b) Interest $ 0.00
-----------------------
(c) Total $ 0.00
-----------------------
11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 0.00
-----------------------
(b) Interest $ 0.00
-----------------------
(c) Total $ 0.00
-----------------------
12. Pool Scheduled Principal Balance: $ 306,942,098.32
----------------------
13. Available Funds: $ 4,416,765.45
----------------------
14. Realized Losses for prior month: $ 0.00
----------------------
15. Aggregate Realized Losses:
(a) Aggregate Realized Losses: $ 0.00
-----------------------
(b) Deficient Valuations: $ 0.00
-----------------------
(c) Debt Service Reductions: $ 0.00
-----------------------
(d) Bankruptcy Losses: $ 0.00
-----------------------
(e) Special Hazard Losses: $ 0.00
-----------------------
(f) Fraud Losses: $ 0.00
-----------------------
(g) Excess Bankruptcy Losses: $ 0.00
-----------------------
(h) Excess Special Hazard Losses: $ 0.00
-----------------------
(i) Excess Fraud Losses: $ 0.00
-----------------------
16. Non-Credit Losses: $ 0.00
-----------------------
17. Compensating Interest Payment: $ 2,355.31
-----------------------
18. Total interest payments: $ 1,805,030.07
-----------------------
<PAGE>
19. Interest
Unpaid Class
Accrued Certificate Interest Accrual
Class Interest Shortfalls Pay-out Rate Amount
- ----- -------- ---------- ------------ ------
R $ 0.00 $ 0.00 % 0.000000000 $ 0.00
PO $ 0.00 $ 0.00 % 0.000000000 $ 0.00
A1 $ 361,666.67 $ 0.00 % 7.000000065 $ 0.00
A2 $ 64,947.92 $ 0.00 % 6.250000321 $ 0.00
A3 $ 110,822.92 $ 0.00 % 6.250000188 $ 0.00
A4 $ 81,968.75 $ 0.00 % 6.250000000 $ 0.00
A5 $ 81,614.58 $ 0.00 % 6.249999745 $ 0.00
A6 $ 40,722.50 $ 0.00 % 7.000000000 $ 0.00
A7 $ 200,861.00 $ 0.00 % 7.000000093 $ 0.00
A8 $ 698,505.22 $ 0.00 % 6.999999984 $ 0.00
A9 $ 22,564.58 $ 0.00 % 6.999999374 $ 0.00
A10 $ 63,583.33 $ 0.00 % 6.999999633 $ 0.00
RL $ 0.00 $ 0.00 % 0.000000000 $ 0.00
M $ 32,019.27 $ 0.00 % 7.000001077 $ 0.00
B1 $ 18,297.56 $ 0.00 % 7.000001677 $ 0.00
B2 $ 9,151.69 $ 0.00 % 6.999998183 $ 0.00
B3 $ 9,151.69 $ 0.00 % 6.999998183 $ 0.00
B4 $ 2,745.51 $ 0.00 % 7.000005907 $ 0.00
B5 $ 6,406.86 $ 0.00 % 6.999999408 $ 0.00
20. Principal Distribution Amount: $ 2,611,735.38
---------------------------
21. Principal Distribution Amount per Certificate:
Principal Distribution
----------------------
Class R $ 0.00
Class PO $ 1,335.47
Class A1 $ 0.00
Class A2 $ 0.00
Class A3 $ 0.00
Class A4 $ 0.00
Class A5 $ 0.00
Class A6 $ 0.00
Class A7 $ 85,628.96
Class A8 $ 297,779.46
Class A9 $ 2,217,111.45
Class A10 $ 0.00
Class SUP $ 0.00
Class RL $ 0.00
Class M $ 4,067.65
Class B1 $ 2,324.48
Class B2 $ 1,162.61
Class B3 $ 1,162.61
Class B4 $ 348.78
Class B5 $ 813.91
<PAGE>
22. Additional distributions to the Class R Certificate pursuant to the
Agreement: $ 0.00
-----------------------
23. Additional distributions to the Class RL Certificate pursuant to the
Agreement: $ 0.00
-----------------------
24. Subordinate Certificate Writedown Amount: $ 0.00
-----------------------
25. Unanticipated Recoveries: $ 0.00
-----------------------
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution
Triggers satisfied: Yes No
Class-B1 X
Class-B2 X
Class-B3 X
Class-B4 X
Class-B5 X
2. Base Servicing Fee amount: $ 61,124.80
-------------------------
3. Supplemental Servicing Fee amount: $ 101,726.83
-------------------------
4. Credit Losses for prior month: $ 0.00
-------------------------
Category A Category B Category C
5. Senior Percentage: % 95.691342 N/A N/A N/A
----------- ------ --------- ----------
6. Group I Senior
Percentage:
% N/A N/A N/A N/A
----------- ------ --------- ----------
7. Group II Senior
Percentage:
% N/A N/A N/A N/A
----------- ------ --------- ----------
8. Senior Prepayment
Percentage:
% 100.000000 N/A N/A N/A
----------- ------ --------- ----------
9. Group I Senior
Prepayment
Percentage: % N/A N/A N/A N/A
----------- ------ --------- ----------
10. Group II Senior
Prepayment
Percentage: % N/A N/A N/A N/A
----------- ------ --------- ----------
11. Junior Percentage: % 4.308658
-----------
12. Junior Prepayment
Percentage:
% 0.000000
-----------
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
----------------------
Karen Pickett
Vice President,
Investor Operations
Exhibit 99.40
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
March, 1998
Series 1998-03, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1998 (the
"Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
Weighted average coupon % 7.649699
-------------------------
Weighted average maturity 355.87
-------------------------
A. Amount of distribution allocable to principal and interest:
The amounts below are for a Single Certificate of $1,000:
1.
Principal
Principal Per Prepayments Per Interest Per
Class Certificate Certificate Certificate Payout Rate
----- ----------- ----------- ----------- -----------
R $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
PO $ 11.10679563 $ 10.25906736 $ 0.00000000 % 0.00000000
A1 $ 0.00000000 $ 0.00000000 $ 5.83333339 % 7.00000000
A2 $ 0.00000000 $ 0.00000000 $ 5.20833360 % 6.25000000
A3 $ 0.00000000 $ 0.00000000 $ 5.20833349 % 6.25000000
A4 $ 0.00000000 $ 0.00000000 $ 5.20833333 % 6.25000000
A5 $ 0.00000000 $ 0.00000000 $ 5.20833312 % 6.25000000
A6 $ 0.00000000 $ 0.00000000 $ 5.83333333 % 7.00000000
A7 $ 2.48149535 $ 2.27211204 $ 5.82087692 % 7.00000000
A8 $ 2.48149550 $ 2.27211192 $ 5.82087683 % 7.00000000
A9 $280.47660282 $ 256.81055814 $ 2.85454154 % 7.00000000
A10 $ 0.00000000 $ 0.00000000 $ 5.83333303 % 7.00000000
RL $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
M $ 0.74051520 $ 0.00000000 $ 5.82910431 % 7.00000000
B1 $ 0.74051609 $ 0.00000000 $ 5.82910481 % 7.00000000
B2 $ 0.74051592 $ 0.00000000 $ 5.82910191 % 7.00000000
B3 $ 0.74051592 $ 0.00000000 $ 5.82910191 % 7.00000000
B4 $ 0.74050955 $ 0.00000000 $ 5.82910828 % 7.00000000
B5 $ 0.74051332 $ 0.00000000 $ 5.82910293 % 7.00000000
2. Unanticipated Recoveries: $ 0.00
-----------------------
B. Accrual Amount
1.
Accrual Amount
Class
N/A $ N/A
2. The amount of servicing compensation received by the Company
during the month preceding the month of distribution:
$ 61,124.80
-----------------------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 306,942,098.32
------------------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 1,021
------------------------
<PAGE>
3.
Beginning Aggregate Ending Aggregate Ending
Class Certificate Class Certificate Single Certificate
Class Principal Balance Principal Balance Balance Cusip
- ----- ----------------- ----------------- ------- -----
R $ 0.00 $ 0.00 $ 0.00 36157RDX0
PO $ 120,112.06 $ 118,776.59 $ 987.84 GEC9803PO
A1 $ 62,000,000.00 $ 62,000,000.00 $ 1,000.00 36157RDM4
A2 $ 12,470,000.00 $ 12,470,000.00 $ 1,000.00 36157RDN2
A3 $ 21,278,000.00 $ 21,278,000.00 $ 1,000.00 36157RDP7
A4 $ 15,738,000.00 $ 15,738,000.00 $ 1,000.00 36157RDQ5
A5 $ 15,670,000.00 $ 15,670,000.00 $ 1,000.00 36157RDR3
A6 $ 6,981,000.00 $ 6,981,000.00 $ 1,000.00 36157RDS1
A7 $ 34,433,313.83 $ 34,347,684.87 $ 995.38 36157RDT9
A8 $ 119,743,752.28 $ 119,445,972.82 $ 995.38 36157RDU6
A9 $ 3,868,214.06 $ 1,651,102.62 $ 208.87 36157RDV4
A10 $ 10,900,000.00 $ 10,900,000.00 $ 1,000.00 36157RDW2
SUP $ 299,975,631.90 $ 297,592,867.25 $ 977.82 GEC98003S
RL $ 0.00 $ 0.00 $ 0.00 36157RDY8
M $ 5,489,016.87 $ 5,484,949.22 $ 998.53 36157RDZ5
B1 $ 3,136,723.82 $ 3,134,399.35 $ 998.53 36157REA9
B2 $ 1,568,861.55 $ 1,567,698.94 $ 998.53 36157REB7
B3 $ 1,568,861.55 $ 1,567,698.94 $ 998.53 36157REC5
B4 $ 470,658.46 $ 470,309.68 $ 998.53 36157RED3
B5 $ 1,098,318.95 $ 1,097,505.04 $ 998.53 36157REE1
<PAGE>
D. The aggregate number and aggregate Principal Balances of Mortgage Loans
which, as of the close of business on the last day of the month preceding
the related Determination Date, were delinquent:
1. 30-59 days
Number 18 Principal Balance $ 5,766,961.99
-------- -----------------
2. 60-89 days
Number 0 Principal Balance $ 0.00
-------- -----------------
3. 90 days or more
Number 0 Principal Balance $ 0.00
-------- -----------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
-------- -----------------
5. Real Estate Owned
Number 0 Principal Balance $ 0.00
-------- -----------------
6. The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to the Pooling And Servicing Agreement:
$ 0.00
-------------
E. Other Information:
1. Special Hazard Loss Amount: $ 3,139,304.00
--------------
2. Bankruptcy Loss Amount: $ 123,439.00
--------------
3. Fraud Loss Amount: $ 3,139,304.00
--------------
4. Certificate Interest Rate of the Class S
Certificate: % 0.00000000
--------------
F. Ending Notional Principal Balances (if applicable):
Ending Notional Balance
Class
Class A7-1 $ 0.00
Class A7-2 $ 0.00
Class A8-1 $ 0.00
Class A8-2 $ 0.00
Ending Component Principal Balances (if applicable):
Ending Component Balance
Class
Class A7-1 $ 5,992,256.05
Class A7-2 $ 28,355,428.82
Class A8-1 $ 20,838,401.64
Class A8-2 $ 98,607,571.18
Exhibit 99.41
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
March, 1998
Series 1998-04, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of February 1, 1998
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (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 $ 445,311.81
---------------------------
(b) Interest $ 3,728,104.69
---------------------------
(c) Total $ 4,173,416.50
---------------------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 378,077.67
---------------------------
(b) Interest $ 3,176,210.91
---------------------------
(c) Total $ 3,554,288.58
---------------------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 67,234.14
---------------------------
(b) Interest $ 551,893.78
---------------------------
(c) Total $ 619,127.92
---------------------------
4. Aggregate Principal Prepayments in part received in the
applicable Prepayment Period:
(a) Principal $ 205,351.19
---------------------------
5. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $ 8,531,783.85
---------------------------
(b) Interest $ 19,724.31
---------------------------
(c) Total $ 8,551,508.16
---------------------------
6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
---------------------------
(b) Interest $ 0.00
---------------------------
(c) Total $ 0.00
---------------------------
<PAGE>
7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
---------------------------
(b) Interest $ 0.00
---------------------------
(c) Total $ 0.00
---------------------------
8. Aggregate Deficient Valuations with respect to the Mortgage
Loans during the prior month: $ 0.00
---------------------------
9. Aggregate Debt Service Reductions with respect to the Mortgage Loans
during the prior month: $ 0.00
---------------------------
10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
---------------------------
(b) Interest $ 0.00
---------------------------
(c) Total $ 0.00
---------------------------
11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 324,516.09
---------------------------
(b) Interest $ 1,633.85
---------------------------
(c) Total $ 326,149.94
---------------------------
12. Pool Scheduled Principal Balance: $ 591,907,159.74
--------------------------
13. Available Funds: $ 12,888,698.50
--------------------------
14. Realized Losses for prior month: $ 0.00
--------------------------
15. Aggregate Realized Losses:
(a) Aggregate Realized Losses: $ 0.00
---------------------------
(b) Deficient Valuations: $ 0.00
---------------------------
(c) Debt Service Reductions: $ 0.00
---------------------------
(d) Bankruptcy Losses: $ 0.00
---------------------------
(e) Special Hazard Losses: $ 0.00
---------------------------
(f) Fraud Losses: $ 0.00
---------------------------
(g) Excess Bankruptcy Losses: $ 0.00
---------------------------
(h) Excess Special Hazard Losses: $ 0.00
---------------------------
(i) Excess Fraud Losses: $ 0.00
---------------------------
16. Non-Credit Losses: $ 0.00
---------------------------
17. Compensating Interest Payment: $ 3,146.30
---------------------------
18. Total interest payments: $ 3,381,735.57
---------------------------
<PAGE>
19. Interest
Unpaid Class
Accrued Certificate Interest Accrual
Class Interest Shortfalls Pay-out Rate Amount
- ----- -------- ---------- ------------ ------
R $ 0.56 $ 0.00 % 6.720000000 $ 0.00
PO $ 0.00 $ 0.00 % 0.000000000 $ 0.00
A1 $ 585,113.75 $ 0.00 % 6.500000000 $ 0.00
A2 $ 476,315.00 $ 0.00 % 7.000000000 $ 0.00
A3 $ 109,644.48 $ 0.00 % 6.059379939 $ 0.00
A4 $ 44,163.02 $ 0.00 % 11.389560284 $ 0.00
A5 $ 948,105.00 $ 0.00 % 6.750000000 $ 0.00
A6 $ 527,988.70 $ 0.00 % 6.409379988 $ 0.00
A7 $ 213,408.80 $ 0.00 % 7.771860035 $ 0.00
A8 $ 338,295.12 $ 0.00 % 6.749999963 $ 0.00
M $ 62,589.38 $ 0.00 % 6.750000539 $ 0.00
B1 $ 30,448.13 $ 0.00 % 6.750001108 $ 0.00
B2 $ 15,221.25 $ 0.00 % 6.750000000 $ 0.00
B3 $ 13,533.75 $ 0.00 % 6.750000000 $ 0.00
B4 $ 6,765.75 $ 0.00 % 6.750000000 $ 0.00
B5 $ 10,142.89 $ 0.00 % 6.750002263 $ 0.00
20. Principal Distribution Amount: $ 9,506,962.93
--------------------------
21. Principal Distribution Amount per Certificate:
Principal Distribution
----------------------
Class R $ 100.00
Class PO $ 215.47
Class A1 $ 2,665,006.37
Class A2 $ 177,481.37
Class A3 $ 2,048,550.00
Class A4 $ 438,975.00
Class A5 $ 4,158,378.04
Class A6 $ 0.00
Class A7 $ 0.00
Class A8 $ 0.00
Class SUP $ 0.00
Class M $ 8,238.39
Class B1 $ 4,007.77
Class B2 $ 2,003.51
Class B3 $ 1,781.39
Class B4 $ 890.55
Class B5 $ 1,335.07
22. Additional distributions to the Class R Certificate pursuant to the
Agreement: $ 0.00
-----------------------
<PAGE>
23. Additional distributions to the Class RL Certificate pursuant to the
Agreement: $ 0.00
-----------------------
24. Subordinate Certificate Writedown Amount: $ 0.00
-----------------------
25. Unanticipated Recoveries: $ 0.00
-----------------------
26. The Certificate Interest Rate applicable to the Interest Accrual Period
relating to such Distribution Date applicable to any floating index
certificate.
Class Certificate Interest
Rates
Class A3 % 6.05937994
Class A4 % 11.38956028
Class A6 % 6.40937999
Class A7 % 7.77186003
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution
Triggers satisfied: Yes No
Class-B1 X
Class-B2 X
Class-B3 X
Class-B4 X
Class-B5 X
2. Base Servicing Fee amount: $ 43,578.23
-----------------------------
3. Supplemental Servicing Fee amount: $ 274301.65
-----------------------------
4. Credit Losses for prior month: $ 0.00
-----------------------------
Category A Category B Category C
5. Senior Percentage: % 95.898522 N/A N/A N/A
----------- -------- ---------- ---------
6. Group I Senior
Percentage: % N/A N/A N/A N/A
----------- -------- ---------- ---------
7. Group II Senior
Percentage: % N/A N/A N/A N/A
----------- -------- ---------- ---------
8. Senior Prepayment
Percentage: %100.000000 N/A N/A N/A
----------- -------- ---------- ---------
9. Group I Senior
Prepayment
Percentage: % N/A N/A N/A N/A
----------- -------- ---------- ---------
<PAGE>
10. Group II Senior
Prepayment
Percentage: % N/A N/A N/A N/A
----------- -------- ---------- ---------
11. Junior Percentage: % 4.101478
-----------
12. Junior Prepayment
Percentage: % 0.000000
-----------
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
----------------------
Karen Pickett
Vice-President,
Investor Operations
Exhibit 99.42
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
March, 1998
Series 1998-04, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of February 1, 1998
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
Weighted average coupon % 7.553229
-------------------------
Weighted average maturity 356.64
-------------------------
A. Amount of distribution allocable to principal and interest:
The amounts below are for a Single Certificate of $1,000:
1.
Principal
Principal Per Prepayments Per Interest Per
Class Certificate Certificate Certificate Payout Rate
----- ----------- ----------- ----------- -----------
R $ 1000.000000 $ 955.00000000 $ 5.60000000 % 6.72000000
PO $ 0.99437901 $ 0.13000258 $ 0.00000000 % 0.00000000
A1 $ 24.67118773 $ 23.56128142 $ 5.41666667 % 6.50000000
A2 $ 2.17357839 $ 2.07579359 $ 5.83333333 % 7.00000000
A3 $ 94.34235977 $ 90.09808971 $ 5.04948328 % 6.059379939
A4 $ 94.34235977 $ 90.09808940 $ 9.49130024 % 11.389560284
A5 $ 24.67118776 $ 23.56128138 $ 5.62500000 % 6.75000000
A6 $ 0.00000000 $ 0.00000000 $ 5.34114999 % 6.409379988
A7 $ 0.00000000 $ 0.00000000 $ 6.47655003 % 7.771860035
A8 $ 0.00000000 $ 0.00000000 $ 5.62499997 % 6.75000000
M $ 0.74039633 $ 0.00000000 $ 5.62500045 % 6.75000000
B1 $ 0.74039719 $ 0.00000000 $ 5.62500092 % 6.75000000
B2 $ 0.74039542 $ 0.00000000 $ 5.62500000 % 6.75000000
B3 $ 0.74039485 $ 0.00000000 $ 5.62500000 % 6.75000000
B4 $ 0.74039741 $ 0.00000000 $ 5.62500000 % 6.75000000
B5 $ 0.74039759 $ 0.00000000 $ 5.62500189 % 6.75000000
2. Unanticipated Recoveries: $ 0.00
-----------------------
B. Accrual Amount
1.
Accrual Amount
Class
N/A $ N/A
2. The amount of servicing compensation received by the Company
during the month preceding the month of distribution:
$ 43,578.23
----------------------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 591,907,159.74
----------------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 1,936
-----------------------
<PAGE>
3.
Beginning Aggregate Ending Aggregate Ending
Class Certificate Class Certificate Single Certificate
Class Principal Balance Principal Balance Balance Cusip
R $ 100.00 $ 0.00 $ 0.00
PO $ 216,688.00 $ 216,472.37 $ 999.00
A1 $ 108,021,000.00 $ 105,355,993.63 $ 975.33
A2 $ 81,654,000.00 $ 81,476,518.63 $ 997.83
A3 $ 21,714,000.00 $ 19,665,450.00 $ 905.66
A4 $ 4,653,000.00 $ 4,214,025.00 $ 905.66
A5 $ 168,552,000.00 $ 164,393,621.96 $ 975.33
A6 $ 98,853,000.00 $ 98,853,000.00 $ 1,000.00
A7 $ 32,951,000.00 $ 32,951,000.00 $ 1,000.00
A8 $ 60,141,355.00 $ 60,141,355.00 $ 1,000.00
SUP $ 588,180,274.72 $ 578,686,622.76 $ 983.86
M $ 11,127,000.00 $ 11,118,761.61 $ 999.26
B1 $ 5,413,000.00 $ 5,408,992.23 $ 999.26
B2 $ 2,706,000.00 $ 2,703,996.49 $ 999.26
B3 $ 2,406,000.00 $ 2,404,218.61 $ 999.26
B4 $ 1,202,800.00 $ 1,201,909.45 $ 999.26
B5 $ 1,803,179.84 $ 1,801,844.77 $ 999.26
D. The aggregate number and aggregate Principal Balances of Mortgage Loans
which, as of the close of business on the last day of the month preceding
the related Determination Date, were delinquent:
1. 30-59 days
Number 15 Principal Balance $ 4,839,852.86
-------- --------------
2. 60-89 days
Number 0 Principal Balance $ 0.00
-------- --------------
3. 90 days or more
Number 0 Principal Balance $ 0.00
-------- --------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
-------- --------------
5. Real Estate Owned
Number 0 Principal Balance $ 0.00
-------- --------------
6. The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to the Pooling And Servicing Agreement:
$ 0.00
---------------------
7. The Certificate Interest Rate applicable to the Interest Accrual
Period relating to such Distribution Date applicable to any
floating index certificate:
Certificate Interest
Class Rates
----- -----
A3 % 6.05937994
A4 % 11.38956028
A6 % 6.40937999
A7 % 7.77186003
E. Other Information:
1. Special Hazard Loss Amount: $ 0.00
--------------------
2. Bankruptcy Loss Amount: $ 0.00
--------------------
3. Fraud Loss Amount: $ 0.00
--------------------
4. Certificate Interest Rate of the Class S
Certificate: % 0.0000000
--------------------
