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) February 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 February 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 $ 11,582,444.62
Series 1997-02 $ 18,800,491.22
Series 1997-03 $ 16,209,268.32
Series 1997-HE-1 $ 4,833,182.56
Series 1997-04 $ 9,664,130.05
Series 1997-05 $ 18,959,011.20
Series 1997-06 $ 13,662,872.86
Series 1997-HE-2 $ 4,711,897.06
Series 1997-07 $ 13,589,808.97
Series 1997-08 $ 24,570,687.97
Series 1997-10 $ 7,127,868.29
Series 1997-HE-3 $ 4,155,964.99
Series 1997-09 $ 42,418,978.69
Series 1997-11 $ 16,041,558.48
Series 1997-12 $ 21,752,687.10
Series 1997-13 $ 7,202,643.47
Series 1997-HE-4 $ 2,569,235.24
Series 1998-01 $ 5,378,953.10
Series 1998-02 $ 8,469,070.53
Series 1998-03 $ 6,207,080.37
Item 7. Financial Statements and Exhibits
- ------- ---------------------------------
Attached as Exhibits to Item 7 are the "Servicer's Certificate" and the
"Distribution Date Statement" filed as part of this Report.
Series Exhibit No. Description
------ ----------- -----------
Series 1997-01 99.1 Servicer's Certificate
99.2 Distribution Date Statement
Series 1997-02 99.3 Servicer's Certificate
99.4 Distribution Date Statement
Series 1997-03 99.5 Servicer's Certificate
99.6 Distribution Date Statement
Series 1997-HE-1 99.7 Servicer's Certificate
99.8 Distribution Date Statement
Series 1997-04 99.9 Servicer's Certificate
99.10 Distribution Date Statement
<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 Distribution Date Statement
Series 1998-02 99.37 Servicer's Certificate
99.38 Distribution Date Statement
Series 1998-03 99.39 Servicer's Certificate
99.40 Distribution Date Statement
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
------------------------------------------
Name: Karen Pickett
Title: Vice President, Investor Reporting
Dated as of: March 4, 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 Distribution Date Statement
99.37 Series 1998-02 Servicer's Certificate
99.38 Series 1998-02 Distribution Date Statement
99.39 Series 1998-03 Servicer's Certificate
99.40 Series 1998-03 Distribution Date Statement
Exhibit 99.1
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
February 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 ...................................$ 187,349.18
(b) Interest ....................................$ 1,675,399.78
(c) Total .......................................$ 1,862,748.96
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ...................................$ 187,349.18
(b) Interest ....................................$ 1,628,025.14
(c) Total .......................................$ 1,815,374.32
3. Aggregate Principal Prepayments in part received and applied in prior
month: ............................................$ 42,457.46
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ...................................$ 9,665,355.60
(b) Interest ....................................$ 59,257.24
(c) Total .......................................$ 9,724,612.84
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: .................$ 247,813,213.10
10. Available Funds: .................................$ 11,582,444.62
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: ....................$ 5,875.88
14. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 1-A1.......$ 0.00 $ 0.00 7.35000000%
Class 1-A2.......$ 119,283.07 $ 0.00 7.35000000%
Class 1-A3.......$ 349,816.95 $ 0.00 7.35000000%
Class 1-A4.......$ 398,305.00 $ 0.00 7.35000000%
Class 1-A5.......$ 58,630.25 $ 0.00 6.18750035%
Class 1-A6.......$ 14,391.09 $ 0.00 6.18749839%
Class 1-A7 ......$ 33,191.52 $ 0.00 2.81250014%
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........$ 27,896.63 $ 0.00 7.50000000%
Class 1-B1.......$ 23,248.23 $ 0.00 7.50000000%
Class 1-B2.......$ 20,452.99 $ 0.00 7.50000000%
Class 1-B3.......$ 8,373.33 $ 0.00 7.50000000%
Class 1-B4.......$ 5,578.09 $ 0.00 7.50000000%
Class 1-B5.......$ 7,441.14 $ 0.00 7.50000000%
Class 1-S........$ 80,371.02 $ 0.00 0.41554200%
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........ $ 2,020.56
16. Principal distributable:
Class 1-A1.....$ 0.00
Class 1-A2.....$ 1,486,324.25
Class 1-A3.....$ 5,269,695.06
Class 1-A4.....$ 2,230,981.84
Class 1-A5.....$ 898,700.12
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.....$ 669.78
Class 1-M......$ 3,243.46
Class 1-B1.....$ 2,703.01
Class 1-B2.....$ 2,378.01
Class 1-B3.....$ 973.54
Class 1-B4.....$ 648.55
Class 1-B5.....$ 865.18
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:..... 0.374200%
20. Draw Amount:
Class A9.................... $ 0.00
Class A10................... $ 0.00
21. Distributions of amounts in Reserve Fund to Senior Certificates (other
than the Class PO Certificates) and the Class S Certificates pursuant
to the second paragraph of Section 4.01(g):
Class A1 $ 0.00
Class A2 $ 0.00
Class A3 $ 0.00
Class A4 $ 0.00
Class A5 $ 0.00
Class A6 $ 0.00
Class A7 $ 0.00
Class A8 $ 0.00
Class A9 $ 0.00
Class A10 $ 0.00
Class A11 $ 0.00
Class A12 $ 0.00
Class A13 $ 0.00
Class A14 $ 0.00
Class A15 $ 0.00
Class R $ 0.00
Class RL $ 0.00
Class S $ 0.00
B. Other Amounts:
1. Senior Percentage for such Distribution Date:............. 94.213090%
2. Group I Senior Percentage for such Distribution Date: .... 94.213090%
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: ............ 5.786910%
8. Junior Prepayment Percentage for such Distribution Date: . 0.000000%
9. Subordinate Certificate Writedown Amount for such
Distribution Date: .......................................$ 0.00
10. Prepayment Distribution Triggers satisfied:
YES NO
--- --
Class 1-B1....... X
Class 1-B2....... X
Class 1-B3....... X
Class 1-B4....... X
Class 1-B5....... X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
--------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.2
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
February 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.....$ 68.98056574 Class 1-A14....$ 0.00000000
Class 1-A3.....$ 87.96900140 Class 1-A15....$ 0.00000000
Class 1-A4.....$ 28.02177753 Class 1-PO.....$ 1.08492751
Class 1-A5.....$ 61.20267774 Class 1-M......$ 0.72060875
Class 1-A6.....$ 0.00000000 Class 1-B1.....$ 0.72061050
Class 1-A7.....$ 0.00000000 Class 1-B2.....$ 0.72060909
Class 1-A8.....$ 0.00000000 Class 1-B3.....$ 0.72060696
Class 1-A9.....$ 0.00000000 Class 1-B4.....$ 0.72061111
Class 1-A10....$ 0.00000000 Class 1-B5.....$ 0.72061434
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.....$ 67.74855239 Class 1-A14....$ 0.00000000
Class 1-A3.....$ 86.39784896 Class 1-A15....$ 0.00000000
Class 1-A4.....$ 27.52130028 Class 1-PO.....$ 1.06555038
Class 1-A5.....$ 60.10957977 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.....$ 5.53594793 Class 1-A14....$ 6.25000000
Class 1-A3.....$ 5.83962590 Class 1-A15....$ 6.25000000
Class 1-A4.....$ 5.00282607 Class 1-M......$ 6.19787381
Class 1-A5.....$ 3.99279828 Class 1-B1.....$ 6.19787523
Class 1-A6.....$ 5.15624866 Class 1-B2.....$ 6.19787576
Class 1-A7.....$ 1.89937167 Class 1-B3.....$ 6.19787565
Class 1-A8.....$ 6.25000000 Class 1-B4.....$ 6.19787778
Class 1-A9.....$ 6.04166667 Class 1-B5.....$ 6.19777643
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......$ 0.26784165
4. Accrual Amount:
Class A13A $ 0.00
Class A13B $ 2,020.56
5. The amount of servicing compensation received by the Company during
the month preceding the month of distribution:.......$ 55,398.48
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:.........$ 247,813,213.10
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:................... 877
<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....................$ 17,988,462.38 $ 834.85
Class 1-A3....................$ 51,843,275.67 $ 865.44
Class 1-A4....................$ 62,798,406.00 $ 788.77
Class 1-A5....................$ 10,472,014.39 $ 713.16
Class 1-A6....................$ 2,791,000.00 $ 1,000.00
Class 1-A7....................$ 13,263,014.39 $ 758.97
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...................$ 325,310.38 $ 53.35
Class 1-A14...................$ 31,000,000.00 $ 1,000.00
Class 1-A15...................$ 2,500,000.00 $ 1,000.00
Class 1-PO....................$ 601,873.34 $ 974.93
Class 1-M.....................$ 4,460,217.67 $ 990.94
Class 1-B1....................$ 3,717,013.21 $ 990.94
Class 1-B2....................$ 3,270,099.60 $ 990.94
Class 1-B3....................$ 1,338,758.96 $ 990.94
Class 1-B4....................$ 891,845.34 $ 990.94
Class 1-B5....................$ 1,189,736.16 $ 990.94
Class 1-R.....................$ 100.00 $ 1,000.00
Class 1-RL....................$ 100.00 $ 1,000.00
Class 1-S.....................$ 222,226,679.20 $ 812.18
8. The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in lieu of
foreclosure or otherwise, of any REO Mortgage Loan:
book value........................................$ 0.00
unpaid principal balance..........................$ 0.00
number of related mortgage loans.................. 0
<PAGE>
9. The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the month
preceding the related Determination Date, were:
(a) delinquent
(1) 30-59 days
Number 9 Principal Balance $ 2,199,828.80
(2) 60-89 days
Number 1 Principal Balance $ 308,056.60
(3) 90 days or more
Number 0 Principal Balance $ 0.00
(b) in foreclosure
Number 5 Principal Balance $ 1,696,923.90
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: ........................ 0.374200%
1. Senior Percentage for such Distribution Date: ....... 94.21309000%
2. Group I Senior Percentage for such Distribution Date: 94.21309000%
3. Group II Senior Percentage for such Distribution Date: 0.00000000%
4. Senior Prepayment Percentage for such Distribution
Date:................................................100.00000000%
5. Group I Senior Prepayment Percentage for such
Distribution Date: ..................................100.00000000%
6. Group II Senior Prepayment Percentage for such
Distribution Date: .................................. 0.00000000%
7. Junior Percentage for such Distribution Date: ....... 5.78691000%
8. Junior Prepayment Percentage for such Distribution
Date:................................................ 0.00000000%
Exhibit 99.3
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
February 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 ...............$ 295,147.33 $ 261,479.66
(b) Interest ................$ 2,548,379.62 $ 475,974.60
(c) Total ...................$ 2,843,526.95 $ 737,454.26
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ...............$ 295,147.33 $ 261,479.66
(b) Interest ................$ 2,474,167.31 $ 461,665.90
(c) Total ...................$ 2,769,314.64 $ 723,145.56
3. Aggregate Principal Prepayments in part received and applied in the
applicable Prepayment Period:..$ 108,622.75 $ 30,814.25
4. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal ...............$ 13,228,439.78 $ 1,846,815.77
(b) Interest ................$ 82,909.81 $ 10,428.66
(c) Total ...................$ 13,311,349.59 $ 1,857,244.43
<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:.$382,203,685.95 $ 74,152,253.48
10. Available Funds: ................$ 16,189,286.98 $ 2,611,204.24
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: ..$ 4,527.84 $ 1,483.01
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......$ 291,380.88 $ 0.00 7.00000000%
Class 1-A5......$ 128,716.74 $ 0.00 7.50000000%
Class 1-A6......$ 95,041.66 $ 0.00 7.50000000%
Class 1-A7......$ 322,666.12 $ 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.....$ 127,183.30 $ 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.....$ 260,279.03 $ 0.00 7.50000000%
Class 1-A17.....$ 18,591.36 $ 0.00 7.50000000%
Class 1-S.......$ 89,472.11 $ 0.00 0.30937600%
Class 1-M.......$ 55,817.46 $ 0.00 7.50000000%
Class 1-B1......$ 27,905.63 $ 0.00 7.50000000%
Class 1-B2......$ 27,905.63 $ 0.00 7.50000000%
Class 1-B3......$ 13,955.86 $ 0.00 7.50000000%
Class 1-B4......$ 4,189.20 $ 0.00 7.50000000%
Class 1-B5......$ 9,770.80 $ 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......$ 65,662.27 $ 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......$ 133,482.39 $ 0.00 7.00000000%
Class 2-A6......$ 28,935.48 $ 0.00 7.00000000%
Class 2-A7......$ 50,666.96 $ 0.00 7.00000000%
Class 2-S.......$ 27,778.31 $ 0.00 0.47201800%
Class 2-M.......$ 5,068.19 $ 0.00 7.00000000%
Class 2-B1......$ 2,534.09 $ 0.00 7.00000000%
Class 2-B2......$ 2,534.09 $ 0.00 7.00000000%
Class 2-B3......$ 1,520.45 $ 0.00 7.00000000%
Class 2-B4......$ 1,013.62 $ 0.00 7.00000000%
Class 2-B5......$ 1,267.05 $ 0.00 7.00000000%
<PAGE>
15. Principal Distribution Amount:
Class 1-A1......$ 0.00 Class 2-A1....$ 453,347.45
Class 1-A2......$ 0.00 Class 2-A2....$ 0.00
Class 1-A3......$ 0.00 Class 2-A3....$ 0.00
Class 1-A4......$ 1,358,151.10 Class 2-A4....$ 0.00
Class 1-A5......$ 3,216,592.75 Class 2-A5....$ 293,510.50
Class 1-A6......$ 2,485,364.07 Class 2-A6....$ 1,353,831.36
Class 1-A7......$ 5,701,956.82 Class 2-A7....$ 29,767.53
Class 1-A8......$ 0.00 Class 2-PO....$ 464.51
Class 1-A9......$ 0.00 Class 2-M.....$ 2,977.57
Class 1-A10.....$ 0.00 Class 2-B1....$ 1,488.78
Class 1-A11.....$ 1,171,217.54 Class 2-B2....$ 1,488.78
Class 1-A12.....$ 0.00 Class 2-B3....$ 893.27
Class 1-A13.....$ 0.00 Class 2-B4....$ 595.51
Class 1-A14.....$ 0.00 Class 2-B5....$ 744.42
Class 1-A15.....$ 0.00
Class 1-A16.....$ 31,042.36
Class 1-A17.....$ 2,217.31
Class 1-PO......$ 3,773.47
Class 1-M.......$ 6,657.17
Class 1-B1......$ 3,328.21
Class 1-B2......$ 3,328.21
Class 1-B3......$ 1,664.48
Class 1-B4......$ 499.64
Class 1-B5......$ 1,165.34
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........................ 0.30937600%
Class 2-S........................ 0.47201800%
B. Other Amounts for such Distribution Date:
Pool 1 Pool 2
------ ------
1. Senior Percentage: ....................... 94.34490000% 96.86320000%
2. Group I Senior Percentage: ............... 83.04367610% 85.45979800%
3. Group II Senior Percentage: .............. 11.30122390% 11.40340200%
<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: ....................... 5.65510000% 3.13680000%
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
February 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.....$ 29.73940239
Class 1-A2.....$ 0.00000000 Class 2-A2.....$ 0.00000000
Class 1-A3.....$ 0.00000000 Class 2-A3.....$ 0.00000000
Class 1-A4.....$ 22.91269777 Class 2-A4.....$ 0.00000000
Class 1-A5.....$ 127.73858635 Class 2-A5.....$ 11.83557805
Class 1-A6.....$ 132.54976025 Class 2-A6.....$ 108.18713079
Class 1-A7.....$ 59.38457003 Class 2-A7.....$ 3.30750333
Class 1-A8.....$ 0.00000000 Class 2-PO.....$ 3.63520398
Class 1-A9.....$ 0.00000000 Class 2-M......$ 3.30743725
Class 1-A10....$ 0.00000000 Class 2-B1.....$ 3.30742982
Class 1-A11....$ 46.84870160 Class 2-B2.....$ 3.30742982
Class 1-A12....$ 0.00000000 Class 2-B3.....$ 3.30743968
Class 1-A13....$ 0.00000000 Class 2-B4.....$ 3.30741504
Class 1-A14....$ 0.00000000 Class 2-B5.....$ 3.30752961
Class 1-A15....$ 0.00000000
Class 1-A16....$ 0.73910381
Class 1-A17....$ 0.73910333
Class 1-PO.....$ 1.67560835
Class 1-M......$ 0.73911069
Class 1-B1.....$ 0.73910948
Class 1-B2.....$ 0.73910948
Class 1-B3.....$ 0.73911190
Class 1-B4.....$ 0.73911243
Class 1-B5.....$ 0.73911227
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....$ 26.20443717
Class 1-A2.....$ 0.00000000 Class 2-A2....$ 0.00000000
Class 1-A3.....$ 0.00000000 Class 2-A3....$ 0.00000000
Class 1-A4.....$ 22.44402213 Class 2-A4....$ 0.00000000
Class 1-A5.....$ 125.12571359 Class 2-A5....$ 10.42874559
Class 1-A6.....$ 129.83847568 Class 2-A6....$ 95.32749967
Class 1-A7.....$ 58.16986796 Class 2-A7....$ 2.91435793
Class 1-A8.....$ 0.00000000 Class 2-PO....$ 3.20310654
Class 1-A9.....$ 0.00000000 Class 2-B1....$ 0.00000000
Class 1-A10....$ 0.00000000 Class 2-B2....$ 0.00000000
Class 1-A11....$ 45.89041875 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....$ 0.72398556
Class 1-A17....$ 0.72398509
Class 1-PO.....$ 1.64133404
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....... $ 4.91574320 7.00000000%
Class 1-A5....... $ 5.11164940 7.50000000%
Class 1-A6....... $ 5.06877418 7.50000000%
Class 1-A7....... $ 3.36049349 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...... $ 5.08733200 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...... $ 6.19711976 7.50000000%
Class 1-A17...... $ 6.19712000 7.50000000%
Class 1-S........ $ 0.19867085 0.30937600%
Class 1-M........ $ 6.19712002 7.50000000%
Class 1-B1....... $ 6.19711970 7.50000000%
Class 1-B2....... $ 6.19711970 7.50000000%
Class 1-B3....... $ 6.19709591 7.50000000%
Class 1-B4....... $ 6.19704142 7.50000000%
Class 1-B5....... $ 6.19709112 7.50000000%
Class 1-R........ $ 0.00000000 7.50000000%
Class 1-RL....... $ 0.00000000 7.50000000%
Class 2-A1....... $ 4.30741734 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....... $ 5.38257147 7.00000000%
Class 2-A6....... $ 2.31228693 7.00000000%
Class 2-A7....... $ 5.62966222 7.00000000%
Class 2-S........ $ 0.30811962 0.47201800%
Class 2-M........ $ 5.62966460 7.00000000%
Class 2-B1....... $ 5.62965974 7.00000000%
Class 2-B2....... $ 5.62965974 7.00000000%
Class 2-B3....... $ 5.62964910 7.00000000%
Class 2-B4....... $ 5.62956463 7.00000000%
Class 2-B5....... $ 5.62962493 7.00000000%
iii) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:
Pool 1 Pool 2
------ ------
$ 79,938.16 $ 15,883.08
(b) The amounts below are for the aggregate of all certificates.
iv) The Pool Scheduled Principal Balances:$382,203,685.95 $ 74,152,253.48
Number of Mortgage Loans: 1,328 251
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........ $ 48,592,856.37 $ 819.79
Class 1-A5........ $ 17,378,085.14 $ 690.13
Class 1-A6........ $ 12,721,301.38 $ 678.45
Class 1-A7........ $ 86,299,914.25 $ 898.79
<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....... $ 19,178,111.23 $ 767.12
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....... $ 41,613,602.66 $ 990.80
Class 1-A17....... $ 2,972,400.19 $ 990.80
Class 1-PO........ $ 1,015,295.29 $ 969.21
Class 1-S......... $ 333,709,340.88 $ 2,003.06
Class 1-M......... $ 8,924,136.04 $ 990.80
Class 1-B1........ $ 4,461,572.63 $ 990.80
Class 1-B2........ $ 4,461,572.63 $ 990.80
Class 1-B3........ $ 2,231,281.71 $ 990.80
Class 1-B4........ $ 669,780.82 $ 990.80
Class 1-B5........ $ 1,562,170.61 $ 990.80
Class 1-R......... $ 0.00 $ 0.00
Class 1-RL........ $ 0.00 $ 0.00
Class 2-A1........ $ 10,803,040.94 $ 708.67
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........ $ 22,589,184.42 $ 910.89
Class 2-A6........ $ 3,606,537.39 $ 288.20
Class 2-A7........ $ 8,655,997.58 $ 961.78
Class 2-S......... $ 68,501,569.51 $ 812.93
Class 2-PO........ $ 122,392.05 $ 957.83
Class 2-M......... $ 865,854.75 $ 961.78
Class 2-B1........ $ 432,926.89 $ 961.78
Class 2-B2........ $ 432,926.89 $ 961.78
Class 2-B3........ $ 259,755.95 $ 961.78
Class 2-B4........ $ 173,170.95 $ 961.78
Class 2-B5........ $ 216,465.67 $ 961.78
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 11 $ 3,490,325.07
(2) 60-89 days 0 $ 0.00
(3) 90 days or more 4 $ 1,103,438.79
(4) in foreclosure 2 $ 809,177.68
Pool 2..............................
*(1) 30-59 days 5 $ 1,494,900.68
(2) 60-89 days 1 $ 237,462.96
(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: 0.309376%
Class 2-S Certificates: 0.472018%
Pool 1 Pool 2
xi) Senior Percentage ..................... 94.34490000% 96.86320000%
xii) Group I Senior Percentage ............. 83.04367610% 85.45979800%
xiii) Group II Senior Percentage ............ 11.30122390% 11.40340200%
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 ..................... 5.65510000% 3.13680000%
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: $ 218,045.90 7.50000000%
Class 1-A7B Certificates: $ 354,748.62 7.50000000%
Class 1-A7C Certificates: $ 83,807.31 7.50000000%
Class 1-A7D Certificates: $ 20,812.92 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: $ 123,004.24 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
February 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 ............................$ 297,236.80
(b) Interest .............................$ 2,590,174.95
(c) Total ................................$ 2,887,411.75
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ............................$ 297,236.80
(b) Interest .............................$ 2,520,372.20
(c) Total ................................$ 2,817,609.00
3. Aggregate Principal Prepayments in part received and applied in prior
month: ....................................$ 202,475.01
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ............................$ 13,111,513.14
(b) Interest .............................$ 77,671.17
(c) Total ................................$ 13,189,184.31
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: .........$ 386,692,684.43
10. Available Funds: ..........................$ 16,209,268.32
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: .............$ 9,887.39
14. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 3-A1.....$ 23,598.29 $ 0.00 7.50000131%
Class 3-A2.....$ 245,312.50 $ 0.00 7.50000000%
Class 3-A3.....$ 34,009.95 $ 0.00 7.50000000%
Class 3-A4.....$ 293,750.00 $ 0.00 7.50000000%
Class 3-A5.....$ 264,211.73 $ 0.00 7.50000000%
Class 3-A6.....$ 264,211.72 $ 0.00 7.49999988%
Class 3-A7 ....$ 308,312.21 $ 0.00 7.50000010%
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....$ 27,140.44 $ 0.00 7.49999900%
Class 3-A15....$ 19,897.33 $ 0.00 7.49999953%
Class 3-M......$ 34,552.88 $ 0.00 7.50000024%
Class 3-B1.....$ 27,641.06 $ 0.00 7.49999910%
Class 3-B2.....$ 27,641.06 $ 0.00 7.49999910%
Class 3-B3.....$ 13,823.63 $ 0.00 7.49999939%
Class 3-B4.....$ 4,147.09 $ 0.00 7.50000113%
Class 3-B5.....$ 9,679.05 $ 0.00 7.50011706%
Class 3-S......$ 100,820.49 $ 0.00 0.33146000%
Class 3-R......$ 0.00 $ 0.00 0.00000000%
15. Accrual Amount:
Class 3-A13.......... $ 52,418.94
16. Principal distributable:
Class 3-A1.....$ 3,775,725.74
Class 3-A2.....$ 8,173,371.26
Class 3-A3.....$ 0.00
Class 3-A4.....$ 0.00
Class 3-A5.....$ 31,382.20
Class 3-A6.....$ 31,382.19
Class 3-A7.....$ 1,581,979.67
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....$ 52,418.94
Class 3-A15....$ 0.00
Class 3-PO.....$ 3,429.46
Class 3-M......$ 4,104.08
Class 3-B1.....$ 3,283.11
Class 3-B2.....$ 3,283.11
Class 3-B3.....$ 1,641.92
Class 3-B4.....$ 492.58
Class 3-B5.....$ 1,149.63
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:..... 0.302200%
19. Other Amounts:
A. Senior Percentage for such Distribution Date: ......... 95.295389%
B. Group I Senior Percentage for such Distribution Date: . 74.134943%
C. Group II Senior Percentage for such Distribution Date: 21.160446%
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: ......... 4.704611%
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
February 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
$1,000:
1. The amount of such distribution allocable to principal:
Class 3-A1.....$ 103.17424973 Class 3-A13....$ 0.00000000
Class 3-A2.....$ 208.23875822 Class 3-A14....$ 10.81009727
Class 3-A3.....$ 0.00000000 Class 3-A15....$ 0.00000000
Class 3-A4.....$ 0.00000000 Class 3-PO.....$ 4.48304432
Class 3-A5.....$ 0.73628942 Class 3-M......$ 0.73628992
Class 3-A6.....$ 0.73628921 Class 3-B1.....$ 0.73628841
Class 3-A7.....$ 25.81711476 Class 3-B2.....$ 0.73628841
Class 3-A8.....$ 0.00000000 Class 3-B3.....$ 0.73628700
Class 3-A9.....$ 0.00000000 Class 3-B4.....$ 0.73629297
Class 3-A10....$ 0.00000000 Class 3-B5.....$ 0.73629083
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.....$ 101.02474142 Class 3-A13....$ 0.00000000
Class 3-A2.....$ 203.90036039 Class 3-A14....$ 10.58488222
Class 3-A3.....$ 0.00000000 Class 3-A15....$ 0.00000000
Class 3-A4.....$ 0.00000000 Class 3-PO.....$ 4.38964562
Class 3-A5.....$ 0.72094974 Class 3-M......$ 0.00000000
Class 3-A6.....$ 0.72094953 Class 3-B1.....$ 0.00000000
Class 3-A7.....$ 25.27924700 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.....$ 0.64483917 Class 3-A13....$ 0.00000000
Class 3-A2.....$ 6.25000000 Class 3-A14....$ 5.59703795
Class 3-A3.....$ 6.25000000 Class 3-A15....$ 6.24999961
Class 3-A4.....$ 6.25000000 Class 3-M......$ 6.19893793
Class 3-A5.....$ 6.19893770 Class 3-B1.....$ 6.19893698
Class 3-A6.....$ 6.19893761 Class 3-B2.....$ 6.19893698
Class 3-A7.....$ 5.03150063 Class 3-B3.....$ 6.19893722
Class 3-A8.....$ 6.25000000 Class 3-B4.....$ 6.19893871
Class 3-A9.....$ 6.25000000 Class 3-B5.....$ 6.19903424
Class 3-A10....$ 6.25000000 Class 3-R......$ 0.00000000
Class 3-A11....$ 6.25000000 Class 3-S......$ 0.22608617
Class 3-A12....$ 6.25000000
4. Accrual Amount:
Class A13 ............... $ 52,418.94
5. The amount of servicing compensation received by the Company during
the month preceding the month of distribution:.........$ 81,102.56
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:...........$386,692,684.43
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:..................... 1,380
<PAGE>
7. The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to (i) all distributions allocable to principal
made on such Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date:
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 3-A1...................$ 0.00 $ 0.00
Class 3-A2...................$ 31,076,628.74 $ 791.76
Class 3-A3...................$ 5,441,592.00 $ 1,000.00
Class 3-A4...................$ 47,000,000.00 $ 1,000.00
Class 3-A5...................$ 42,242,494.60 $ 991.09
Class 3-A6...................$ 42,242,493.67 $ 991.09
Class 3-A7...................$ 47,747,973.29 $ 779.22
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..................$ 8,439,448.96 $ 1,070.94
Class 3-A14..................$ 4,290,052.04 $ 884.72
Class 3-A15..................$ 3,183,573.00 $ 1,000.00
Class 3-PO...................$ 744,842.57 $ 973.67
Class 3-M....................$ 5,524,356.54 $ 991.09
Class 3-B1...................$ 4,419,287.02 $ 991.09
Class 3-B2...................$ 4,419,287.02 $ 991.09
Class 3-B3...................$ 2,210,139.06 $ 991.09
Class 3-B4...................$ 663,041.72 $ 991.09
Class 3-B5...................$ 1,547,474.20 $ 991.09
Class 3-R....................$ 0.00 $ 0.00
Class 3-S....................$ 351,666,884.29 $ 858.28
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 $ 3,100,012.17
(2) 60-89 days
Number 3 Principal Balance $ 1,052,402.52
(3) 90 days or more
Number 2 Principal Balance $ 866,042.16
(b) in foreclosure
Number 2 Principal Balance $ 440,992.51
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: ........................ 0.302200%
12. Senior Percentage for such Distribution Date: .......... 95.29538900%
13. Group I Senior Percentage for such Distribution Date: .. 74.13494300%
14. Group II Senior Percentage for such Distribution Date: . 21.16044600%
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: .......... 4.70461100%
19. Junior Prepayment Percentage for such Distribution Date: 0.00000000%
Exhibit 99.7
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
FEBRUARY 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: $ 1,664,076.00
(2) Aggregate Monthly Payments received and Monthly Advances made this
Month:
(a) Principal $ 301,393.61
(b) Interest $ 1,371,803.28
(c) Total $ 1,673,196.89
(3) Aggregate Principal Prepayments in part received on Self- Amortizing
Mortgage Loans and applied in the applicable Prepayment Period:
(a) Principal $ 88,805.40
(c) Total $ 88,805.40
(4) Aggregate Principal Prepayments in full received in the applicable
Prepayment period:
(a) Principal $ 3,125,182.97
(b) Interest $ 33,373.43
(c) Total $ 3,158,556.40
(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
(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: $ 173,332,169.50
(11) Available Funds: $ 4,833,182.56
(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: $ 3,932.23
(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 9.123%
Class B4 36157T5N7 9.123%
Class B5 36157T5P2 9.123%
Class S 36196HE4S 2.01%
(20) Accrued Certificate Interest and Pay-out Rate:
Class A1 36157T4B4 $ 280,129.05 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 $ 290,360.06 2.01%
Class M 36157T4J7 $ 33,424.04 7.500%
Class B1 36157T4K4 $ 24,310.63 7.500%
Class B2 36157T4L2 $ 15,197.22 7.500%
Class B3 36157T5M9 $ 9,613.28 9.123%
Class B4 36157T5N7 $ 2,952.76 9.123%
Class B5 36157T5P2 $ 13,314.01 9.123%
Total $ 1,317,800.58
(21) Principal distributable:
Class A1 36157T4B4 $ 3,489,172.49
Class A2 36157T4C2 $ 0.00
Class A3 36157T4D0 $ 0.00
Class A4 36157T4E8 $ 0.00
Class A5 36157T4F5 $ 0.00
Class M 36157T4J7 $ 9,298.95
Class B1 36157T4K4 $ 6,763.49
Class B2 36157T4L2 $ 4,228.04
Class B3 36157T5M9 $ 2,198.65
Class B4 36157T5N7 $ 675.32
Class B5 36157T5P2 $ 3,045.04
Class R1 36157T4G3 $ 0.00
Class R2 36157T4H1 $ 0.00
Total $ 3,515,381.98
(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: 91.303899%
(2) Senior Prepayment Percentage for such Distribution Date: 100.000000%
(3) Junior Percentage for such Distribution Date: 8.696101%
(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
FEBRUARY 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 $ 46.76234655
Class A2 36157T4C2 $ 0.00000000
Class A3 36157T4D0 $ 0.00000000
Class A4 36157T4E8 $ 0.00000000
Class A5 36157T4F5 $ 0.00000000
Class M 36157T4J7 $ 1.70967969
Class B1 36157T4K4 $ 1.70967969
Class B2 36157T4L2 $ 1.70967969
Class B3 36157T5M9 $ 1.70967969
Class B4 36157T5N7 $ 1.70967969
Class B5 36157T5P2 $ 1.70967969
Class R1 36157T4G3 $ 0.00000000
Class R2 36157T4H1 $ 0.00000000
(2) Aggregate Principal prepayments included in distribution:
Class A1 36157T4B4 $ 3,213,988.37
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 $ 3.75432618 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 $ 1.67516543 2.01%
Class M 36157T4J7 $ 6.14525494 7.500%
Class B1 36157T4K4 $ 6.14525494 7.500%
Class B2 36157T4L2 $ 6.14525494 7.500%
Class B3 36157T5M9 $ 7.47533064 9.123%
Class B4 36157T5N7 $ 7.47533064 9.123%
Class B5 36157T5P2 $ 7.47533064 9.123%
(4) Servicing Compensation: $ 78,901.04
The amounts below are for the aggregate of all Certificates:
(5) Pool Principal Balance; $ 173,332,169.50
number of Mortgage Loans: 2,796
(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 $ 46,908,857.14 $ 628.67864561
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 $ 5,338,547.71 $ 981.53111061
Class B1 36157T4K4 $ 3,882,937.07 $ 981.53111061
Class B2 36157T4L2 $ 2,427,326.44 $ 981.53111061
Class B3 36157T5M9 $ 1,262,249.01 $ 981.53111061
Class B4 36157T5N7 $ 387,704.79 $ 981.53111061
Class B5 36157T5P2 $ 1,748,165.80 $ 981.53111061
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 $ 2,432,899.80
38
Two Payments Delinquent $ 784,611.60
14
Three or more Payments Delinquent $ 836,691.37
18
TOTAL $ 4,054,202.77
70
In foreclosure $ 1,480,544.21
23
(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 9.123%
Class B4 36157T5N7 9.123%
Class B5 36157T5P2 9.123%
Class S 36197HE1S 2.01%
(12) Senior Percentage for such Distribution Date: 91.303899%
(13) Senior Prepayment Percentage for such Distribution Date: 100.000000%
(14) Junior Percentage for such Distribution Date: 8.696101%
(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 ....................................$ 234,673.60
(b) Interest .....................................$ 2,096,089.84
(c) Total ........................................$ 2,330,763.44
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ....................................$ 234,673.60
(b) Interest .....................................$ 2,036,015.26
(c) Total ........................................$ 2,270,688.86
3. Aggregate Principal Prepayments in part received and applied in prior
month: .............................................$ 82,576.36
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ....................................$ 7,267,330.33
(b) Interest .....................................$ 43,534.50
(c) Total ........................................$ 7,310,864.83
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: ...................$ 313,846,022.25
10. Available Funds:.....................................$ 9,664,130.05
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:.......................$ 4,758.93
15. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 4-A1.....$ 134,625.00 $ 0.00 7.50000000%
Class 4-A2.....$ 126,467.24 $ 0.00 7.49999991%
Class 4-A3.....$ 140,912.50 $ 0.00 7.50000000%
Class 4-A4.....$ 152,989.86 $ 0.00 7.50000013%
Class 4-A5.....$ 284,725.00 $ 0.00 7.50000000%
Class 4-A6.....$ 40,482.69 $ 0.00 7.49999990%
<PAGE>
Class 4-A7 ....$ 0.00 $ 0.00 0.00000000%
Class 4-A8 ....$ 295,829.97 $ 0.00 7.50000000%
Class 4-A9 ....$ 122,587.50 $ 0.00 7.50000000%
Class 4-A10 ...$ 215,693.75 $ 0.00 7.50000000%
Class 4-A11 ...$ 128,825.00 $ 0.00 7.50000000%
Class 4-A12 ...$ 203,450.00 $ 0.00 7.50000000%
Class 4-M......$ 27,226.49 $ 0.00 7.50000050%
Class 4-B1.....$ 21,779.95 $ 0.00 7.50000054%
Class 4-B2.....$ 21,779.94 $ 0.00 7.49999709%
Class 4-B3.....$ 10,893.08 $ 0.00 7.50000039%
Class 4-B4.....$ 3,266.63 $ 0.00 7.49988133%
Class 4-B5.....$ 7,620.93 $ 0.00 7.49995147%
Class 4-S......$ 74,289.42 $ 0.00 0.30516300%
Class 4-R......$ 0.00 $ 0.00 0.00000000%
16. Principal distributable:
Class 4-A1.....$ 0.00
Class 4-A2.....$ 2,798,455.45
Class 4-A3.....$ 0.00
Class 4-A4.....$ 918,267.93
Class 4-A5.....$ 0.00
Class 4-A6.....$ 66,104.81
Class 4-A7.....$ 0.00
Class 4-A8.....$ 3,856,483.17
Class 4-A9.....$ 0.00
Class 4-A10....$ 0.00
Class 4-A11....$ 0.00
Class 4-A12....$ 0.00
Class 4-PO.....$ 562.78
Class 4-M......$ 3,179.79
Class 4-B1.....$ 2,543.69
Class 4-B2.....$ 2,543.69
Class 4-B3.....$ 1,272.21
Class 4-B4.....$ 381.52
Class 4-B5.....$ 890.06
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:..... 0.277300%
19. Accrual Amount A7 Certificates:..................$ 66,104.81
<PAGE>
B. Other Amounts:
1. Senior Percentage for such Distribution Date: .......... 95.383785%
2. Group I Senior Percentage for such Distribution Date: .. 79.924822%
3. Group II Senior Percentage for such Distribution Date: . 15.458963%
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: .......... 4.616215%
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
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:
(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....$ 78.22814553 Class 4-PO.....$ 0.94783840
Class 4-A3....$ 0.00000000 Class 4-M......$ 0.72531706
Class 4-A4....$ 31.04668932 Class 4-B1.....$ 0.72531794
Class 4-A5....$ 0.00000000 Class 4-B2.....$ 0.72531794
Class 4-A6....$ 9.37125177 Class 4-B3.....$ 0.72531927
Class 4-A7....$ 0.00000000 Class 4-B4.....$ 0.72532319
Class 4-A8....$ 69.02971647 Class 4-B5.....$ 0.72532029
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....$ 75.91590732 Class 4-M.....$ 0.00000000
Class 4-A3....$ 0.00000000 Class 4-PO....$ 0.91982255
Class 4-A4....$ 30.12902291 Class 4-B1....$ 0.00000000
Class 4-A5....$ 0.00000000 Class 4-B2....$ 0.00000000
Class 4-A6....$ 9.09425982 Class 4-B3....$ 0.00000000
Class 4-A7....$ 0.00000000 Class 4-B4....$ 0.00000000
Class 4-A8....$ 66.98936198 Class 4-B5....$ 0.00000000
Class 4-A9....$ 0.00000000 Class 4-R.....$ 0.00000000
Class 4-A10...$ 0.00000000
Class 4-A11...$ 0.00000000
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 4-A1....$ 6.25000000 Class 4-A12...$ 6.25000000
Class 4-A2....$ 3.53527073 Class 4-M.....$ 6.21042199
Class 4-A3....$ 6.25000000 Class 4-PO....$ 0.00000000
Class 4-A4....$ 5.17259560 Class 4-B1....$ 6.21042201
Class 4-A5....$ 6.25000000 Class 4-B2....$ 6.21041916
Class 4-A6....$ 5.73896938 Class 4-B3....$ 6.21042189
Class 4-A7....$ 0.00000000 Class 4-B4....$ 6.21032319
Class 4-A8....$ 5.29525426 Class 4-B5....$ 6.21038485
Class 4-A9....$ 6.25000000 Class 4-R.....$ 0.00000000
Class 4-A10...$ 6.25000000 Class 4-S.....$ 0.21183123
Class 4-A11...$ 6.25000000
iv) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:.....$ 65,230.36
(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:.......$ 313,846,022.25
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:................. 1,136
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..................$ 17,436,303.18 $ 487.42
Class 4-A3..................$ 22,546,000.00 $ 1,000.00
Class 4-A4..................$ 23,560,109.25 $ 796.57
Class 4-A5..................$ 45,556,000.00 $ 1,000.00
Class 4-A6..................$ 6,411,125.68 $ 908.86
Class 4-A7..................$ 10,642,874.32 $ 1,064.29
Class 4-A8..................$ 43,476,312.06 $ 778.21
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..................$ 588,368.64 $ 990.93
Class 4-M...................$ 4,353,058.32 $ 992.94
Class 4-B1..................$ 3,482,248.06 $ 992.94
Class 4-B2..................$ 3,482,248.06 $ 992.94
Class 4-B3..................$ 1,741,620.50 $ 992.94
Class 4-B4..................$ 522,287.55 $ 992.94
Class 4-B5..................$ 1,218,466.63 $ 992.94
Class 4-R...................$ 0.00 $ 0.00
Class 4-S...................$ 284,573,381.10 $ 886.07
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 9 *Principal Balance $ 2,080,734.19
(2) 60-89 days
Number 2 Principal Balance $ 285,297.00
(3) 90 days or more
Number 0 Principal Balance $ 0.00
(b) in foreclosure
Number 0 Principal Balance $ 0.00
ix) The Scheduled Principal Balance of any Mortgage Loan replaced pursuant
to Section 2.03(b), and of any Modified Mortgage Loan purchased
pursuant to Section 3.01(c): .............. $ 0.00
x) The Certificate Interest Rates, applicable to the Interest Accrual
Period relating to such Distribution Date:
Class 4-S: ........................ 0.277300%
1. Senior Percentage for such Distribution Date: ....... 95.38378500%
2. Group I Senior Percentage for such Distribution Date: 79.92482200%
3. Group II Senior Percentage for such Distribution Date:15.45896300%
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: ........ 4.61621500%
8. Junior Prepayment Percentage for such Distribution
Date: ................................................ 0.00000000%
Exhibit 99.11
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
February 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 .................................$ 310,533.45
(b) Interest ..................................$ 2,856,721.46
(c) Total .....................................$ 3,167,254.91
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal .................................$ 310,533.45
(b) Interest ..................................$ 2,772,900.23
(c) Total .....................................$ 3,083,433.68
3. Aggregate Principal Prepayments in part received and applied in prior
month: ..........................................$ 130,150.18
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal .................................$ 15,646,238.38
(b) Interest ..................................$ 99,188.96
(c) Total .....................................$ 15,745,427.34
<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: ..............$ 424,539,458.64
10. Available Funds: ...............................$ 18,959,011.20
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: ..................$ 4,725.30
<PAGE>
15. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 5-A1......$ 163,148.37 $ 0.00 7.49999991%
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......$ 61,715.30 $ 0.00 7.49999975%
Class 5-A6......$ 1,088,138.63 $ 0.00 7.50000003%
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.......$ 45,645.02 $ 0.00 7.49999978%
Class 5-B1......$ 30,430.01 $ 0.00 7.49999894%
Class 5-B2......$ 22,822.51 $ 0.00 7.49999877%
Class 5-B3......$ 15,215.01 $ 0.00 7.50000148%
Class 5-B4......$ 4,564.50 $ 0.00 7.49999754%
Class 5-B5......$ 10,650.46 $ 0.00 7.49996131%
Class 5-S1......$ 44,557.99 $ 0.00 0.44660500%
Class 5-S2......$ 77,478.19 $ 0.00 0.31910500%
Class 5-R.......$ 0.00 $ 0.00 0.00000000%
16. Principal distributable:
Class 5-A1..... $ 1,680,333.24
Class 5-A2..... $ 0.00
Class 5-A3..... $ 0.00
Class 5-A4..... $ 0.00
Class 5-A5..... $ 6,957.13
Class 5-A6..... $ 14,382,141.78
Class 5-A7..... $ 0.00
Class 5-PO1.... $ 97.38
Class 5-PO2.... $ 2,813.45
Class 5-M...... $ 5,145.54
Class 5-B1..... $ 3,430.36
Class 5-B2..... $ 2,572.77
Class 5-B3..... $ 1,715.18
Class 5-B4..... $ 514.55
Class 5-B5..... $ 1,200.64
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:..... 0.446605%
Class 5-S2 Certificates:..... 0.319105
<PAGE>
19. Accrual Amount A7 Certificates:......................$ 0.00
B. Other Amounts:
1. Senior Percentage for such Distribution Date: ............ 95.297270%
2. Category A-Senior Percentage for such Distribution Date: . 10.006213%
3. Category B-Senior Percentage for such Distribution Date: . 85.291057%
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: .... 47.329977%
7. Category A-Group I Senior Percentage for such
Distribution Date: ....................................... 7.762064%
8. Category B-Group I Senior Percentage for such
Distribution Date: ....................................... 39.567914%
9. Group II Senior Percentage for such Distribution Date: ... 47.967293%
10. Category A-Group II Senior Percentage for such
Distribution Date: ....................................... 2.244149%
11. Category B-Group II Senior Percentage for such
Distribution Date: ....................................... 45.723143%
12. Category B-Group I Scheduled Distribution Percentage:..... 85.291057%
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: ............ 4.702730%
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
February 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
$1,000:
i) The amount of such distribution allocable to principal:
Class 5-A1......$ 53.87488961 Class 5-M......$ 0.70041739
Class 5-A2......$ 0.00000000 Class 5-B1.....$ 0.70041739
Class 5-A3......$ 0.00000000 Class 5-B2.....$ 0.70041729
Class 5-A4......$ 0.00000000 Class 5-B3.....$ 0.70041739
Class 5-A5......$ 0.70041693 Class 5-B4.....$ 0.70041204
Class 5-A6......$ 69.32783490 Class 5-B5.....$ 0.70042489
Class 5-A7......$ 0.00000000 Class 5-R......$ 0.00000000
Class 5-PO1.....$ 0.71803659
Class 5-PO2.....$ 5.63097705
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......$ 52.88284310 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......$ 0.68751953 Class 5-B4.....$ 0.00000000
Class 5-A6......$ 68.05123949 Class 5-B5.....$ 0.00000000
Class 5-A7......$ 0.00000000 Class 5-R......$ 0.00000000
Class 5-PO1.....$ 0.70481474
Class 5-PO2.....$ 5.52728884
<PAGE>
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 5-A1......$ 5.23086743 Class 5-B1.....$ 6.21325696
Class 5-A2......$ 6.25000000 Class 5-B2.....$ 6.21325679
Class 5-A3......$ 6.25000000 Class 5-B3.....$ 6.21325900
Class 5-A4......$ 6.25000000 Class 5-B4.....$ 6.21325576
Class 5-A5......$ 6.21325762 Class 5-B5.....$ 6.21322567
Class 5-A6......$ 5.24527546 Class 5-R......$ 0.00000000
Class 5-A7......$ 0.00000000 Class 5-S1.....$ 0.44741762
Class 5-M.......$ 6.21325764 Class 5-S2.....$ 0.77797737
iv) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:.....$ 89,385.98
(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:.......$ 424,539,458.64
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:................. 1,612
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................$ 24,423,406.29 $ 783.06
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................$ 9,867,491.20 $ 993.42
Class 5-A6................$ 159,720,038.27 $ 769.92
Class 5-A7................$ 0.00 $ 0.00
Class 5-PO1...............$ 122,204.23 $ 901.08
Class 5-PO2...............$ 492,774.04 $ 986.26
Class 5-M.................$ 7,298,057.87 $ 993.42
Class 5-B1................$ 4,865,371.93 $ 993.42
Class 5-B2................$ 3,649,029.43 $ 993.42
Class 5-B3................$ 2,432,685.94 $ 993.42
Class 5-B4................$ 729,805.69 $ 993.42
<PAGE>
Class 5-B5................$ 1,702,881.75 $ 993.42
Class 5-R.................$ 0.00 $ 0.00
Class 5-S1................$ 114,020,436.12 $ 855.03
Class 5-S2................$ 281,449,946.28 $ 862.93
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 * 19 Principal Balance $* 5,549,774.20
(2) 60-89 days
Number 2 Principal Balance $ 209,700.88
(3) 90 days or more
Number 1 Principal Balance $ 231,071.89
(b) in foreclosure
Number 5 Principal Balance $ 1,280,168.60
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: ........................ 0.446605%
Class 5-S2: ........................ 0.319105%
1. Senior Percentage for such Distribution Date: .... 95.29727000%
2. Category A-Senior Percentage for such Distribution
Date:............................................. 10.00621300%
3. Category B-Senior Percentage for such Distribution
Date:............................................. 85.29105700%
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: ............................................ 47.32997700%
7. Category A-Group I Senior Percentage for such
Distribution Date: ............................... 7.76206400%
8. Category B-Group I Senior Percentage for such
Distribution Date: ............................... 39.56791400%
9. Group II Senior Percentage for such Distribution
Date: ............................................ 47.96729300%
10. Category A-Group II Senior Percentage for such
Distribution Date: ............................... 2.24414900%
11. Category B-Group II Senior Percentage for such
Distribution Date: ............................... 45.72314300%
12. Category B-Group I Scheduled Distribution
Percentage:....................................... 85.29105700%
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: .... 4.70273000%
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
February 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 ...............................$ 253,327.07
(b) Interest ................................$ 2,373,774.62
(c) Total ...................................$ 2,627,101.69
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ...............................$ 253,327.07
(b) Interest ................................$ 2,304,372.86
(c) Total ...................................$ 2,557,699.93
3. Aggregate Principal Prepayments in part received and applied in prior
month: ........................................$ 78,942.57
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ...............................$ 10,957,900.56
(b) Interest ................................$ 68,329.80
(c) Total ...................................$ 11,026,230.36
<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: ............$ 350,969,525.74
10. Available Funds: .............................$ 13,662,872.86
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: ................$ 4,632.44
<PAGE>
14. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 6-A1.......$ 294,533.21 $ 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.......$ 354,549.44 $ 0.00 7.49999994%
Class 6-A5.......$ 37,506.91 $ 0.00 7.50000075%
Class 6-A6.......$ 217,788.67 $ 0.00 7.49999983%
Class 6-A7 ......$ 12,043.75 $ 0.00 7.50000000%
Class 6-A8 ......$ 123,240.14 $ 0.00 7.49999986%
Class 6-A9 ......$ 23,006.03 $ 0.00 7.49999959%
Class 6-A10 .....$ 50,117.88 $ 0.00 7.49999996%
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 .....$ 343.92 $ 0.00 7.50001090%
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 .....$ 127,116.26 $ 0.00 7.14999975%
Class 6-A17 .....$ 424,982.38 $ 0.00 7.25000006%
Class 6-A18 .....$ 125,262.09 $ 0.00 8.99999980%
Class 6-PO ......$ 0.00 $ 0.00 0.00000000%
Class 6-M........$ 37,398.09 $ 0.00 7.49999941%
Class 6-B1.......$ 24,932.06 $ 0.00 7.50000004%
Class 6-B2.......$ 18,699.04 $ 0.00 7.49999867%
Class 6-B3.......$ 12,466.02 $ 0.00 7.49999586%
Class 6-B4.......$ 3,739.81 $ 0.00 7.50000765%
Class 6-B5.......$ 8,726.22 $ 0.00 7.49997244%
Class 6-S........$ 111,157.95 $ 0.00 0.38842700%
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 $ 874.83
16. Principal distributable:
Class 6-A1.....$ 2,439,550.38 Class 6-A14...$ 0.00
Class 6-A2.....$ 0.00 Class 6-A15...$ 0.00
Class 6-A3.....$ 0.00 Class 6-A16...$ 1,104,413.90
Class 6-A4.....$ 39,659.56 Class 6-A17...$ 3,641,411.00
Class 6-A5.....$ 0.00 Class 6-A18...$ 864,597.43
Class 6-A6.....$ 2,317,499.40 Class 6-PO....$ 695.75
Class 6-A7.....$ 0.00 Class 6-M.....$ 4,183.31
Class 6-A8.....$ 13,785.52 Class 6-B1....$ 2,788.88
<PAGE>
Class 6-A9.....$ 0.00 Class 6-B2....$ 2,091.66
Class 6-A10....$ 856,704.54 Class 6-B3....$ 1,394.44
Class 6-A11....$ 0.00 Class 6-B4....$ 418.33
Component-A11A.$ 0.00 Class 6-B5....$ 976.11
Component-A11B.$ 0.00 Class 6-R.....$ 0.00
Class 6-A12....$ 874.83
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:..... 0.388427%
B. Other Amounts:
1. Senior Percentage for such Distribution Date: ........... 95.314650%
2. Category A-Senior Percentage for such Distribution Date: 68.370840%
3. Category B-Senior Percentage for such Distribution Date: 19.703233%
4. Category C-Senior Percentage for such Distribution Date: 7.240578%
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: ... 70.180742%
9. Category A-Group I Senior Percentage for such
Distribution Date: ...................................... 52.693527%
10. Category B-Group I Senior Percentage for such
Distribution Date: ...................................... 14.253854%
11. Category C-Group I Senior Percentage for such
Distribution Date: ...................................... 3.233361%
12. Category C-Group I Scheduled Distribution Percentage for
such Distribution Date: ................................. 7.240578%
13. Group II Senior Percentage for such Distribution Date: .. 25.133908%
<PAGE>
14. Category A-Group II Senior Percentage for such
Distribution Date: ...................................... 15.677313%
15. Category B-Group II Senior Percentage for such
Distribution Date: ...................................... 5.449379%
16. Category C-Group II Senior Percentage for such
Distribution Date: ...................................... 4.007217%
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: ........... 4.685350%
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
February 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
$1,000:
i) The amount of such distribution allocable to principal:
Class 6-A1........$ 44.02912558 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........$ 0.69578175 Class 6-A16....$ 44.02912535
Class 6-A5........$ 0.00000000 Class 6-A17....$ 44.02912559
Class 6-A6........$ 57.04470541 Class 6-A18....$ 44.02912561
Class 6-A7........$ 0.00000000 Class 6-PO.....$ 1.66311963
Class 6-A8........$ 0.69578156 Class 6-M......$ 0.69578097
Class 6-A9........$ 0.00000000 Class 6-B1.....$ 0.69578269
Class 6-A10.......$ 80.50250701 Class 6-B2.....$ 0.69578274
Class 6-A11.......$ 0.00000000 Class 6-B3.....$ 0.69578286
Component A11A....$ 0.00000000 Class 6-B4.....$ 0.69577988
Component A11B....$ 0.00000000 Class 6-B5.....$ 0.69578163
Class 6-A12.......$ 14.34147541 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........$ 43.08644027 Class 6-A14....$ 0.00000000
Class 6-A2........$ 0.00000000 Class 6-A15....$ 0.00000000
Class 6-A3........$ 0.00000000 Class 6-A16....$ 43.08644005
Class 6-A4........$ 0.68088472 Class 6-A17....$ 43.08644028
<PAGE>
Class 6-A5........$ 0.00000000 Class 6-A18....$ 43.08644030
Class 6-A6........$ 55.82335011 Class 6-PO.....$ 1.62751142
Class 6-A7........$ 0.00000000 Class 6-M......$ 0.00000000
Class 6-A8........$ 0.68088453 Class 6-B1.....$ 0.00000000
Class 6-A9........$ 0.00000000 Class 6-B2.....$ 0.00000000
Class 6-A10.......$ 78.77890860 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.......$ 14.03441734
Class 6-A13.......$ 0.00000000
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 6-A1........$ 5.31574990 Class 6-A15....$ 6.24999972
Class 6-A2........$ 6.25000000 Class 6-A16....$ 5.06768137
Class 6-A3........$ 6.25000000 Class 6-A17....$ 5.13855826
Class 6-A4........$ 6.22016561 Class 6-A18....$ 6.37889971
Class 6-A5........$ 6.25000062 Class 6-M......$ 6.22016518
Class 6-A6........$ 5.36081715 Class 6-B1.....$ 6.22016569
Class 6-A7........$ 6.25000000 Class 6-B2.....$ 6.22016455
Class 6-A8........$ 6.22016555 Class 6-B3.....$ 6.22016225
Class 6-A9........$ 6.24999966 Class 6-B4.....$ 6.22017201
Class 6-A10.......$ 4.70945909 Class 6-B5.....$ 6.22014281
Class 6-A11.......$ 0.00000000 Class 6-R......$ 0.00000000
Component A11A....$ 0.00000000 Class 6-S......$ 0.55464388
Component A11B....$ 0.00000000
Class 6-A12.......$ 5.63803279
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 $ 874.83
v) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:......$ 72,925.78
(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:........$ 350,969,525.74
<PAGE>
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:.................. 1,195
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...................$ 44,685,763.03 $ 806.49
Class 6-A2...................$ 27,152,000.00 $ 1,000.00
Class 6-A3...................$ 8,015,000.00 $ 1,000.00
Class 6-A4...................$ 56,688,251.31 $ 994.53
Class 6-A5...................$ 6,001,105.00 $ 1,000.00
Class 6-A6...................$ 32,528,688.59 $ 800.69
Class 6-A7...................$ 1,927,000.00 $ 1,000.00
Class 6-A8...................$ 19,704,637.25 $ 994.53
Class 6-A9...................$ 3,680,965.00 $ 1,000.00
Class 6-A10..................$ 7,162,156.30 $ 673.01
Class 6-A11..................$ 0.00 $ 0.00
Component A11A...............$ 0.00 $ 0.00
Component A11B...............$ 0.00 $ 0.00
Class 6-A12..................$ 54,152.29 $ 887.74
Class 6-A13..................$ 14,305,000.00 $ 1,000.00
Class 6-A14..................$ 140,847.71 $ 1,051.10
Class 6-A15..................$ 8,802,874.00 $ 1,000.00
Class 6-A16..................$ 20,229,784.34 $ 806.49
Class 6-A17..................$ 66,700,499.55 $ 806.49
Class 6-A18..................$ 15,837,014.94 $ 806.49
Class 6-PO...................$ 411,834.15 $ 984.45
Class 6-M....................$ 5,979,511.56 $ 994.53
Class 6-B1...................$ 3,986,340.70 $ 994.53
Class 6-B2...................$ 2,989,755.27 $ 994.53
Class 6-B3...................$ 1,993,169.86 $ 994.53
Class 6-B4...................$ 597,950.66 $ 994.53
Class 6-B5...................$ 1,395,224.23 $ 994.53
Class 6-R....................$ 0.00 $ 0.00
Class 6-S....................$ 332,148,831.22 $ 870.46
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 8 Principal Balance $ 1,795,445.81
(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
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: ........................ 0.388427%
xiii) Senior Percentage for such Distribution Date:........... 95.31465000%
xiv) Category A-Senior Percentage for such Distribution Date: 68.37084000%
xv) Category B-Senior Percentage for such Distribution Date: 19.70323300%
xvi) Category C-Senior Percentage for such Distribution Date: 7.24057800%
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: .. 70.18074200%
xxi) Category A-Group I Senior Percentage for such
Distribution Date: ..................................... 52.69352700%
<PAGE>
xxii) Category B-Group I Senior Percentage for such
Distribution Date: ..................................... 14.25385400%
xxiii) Category C-Group I Senior Percentage for such
Distribution Date: ..................................... 3.23336100%
xxiv) Category C-Group I Scheduled Distribution Percentage
for such Distribution Date: ............................ 7.24057800%
xxv) Group II Senior Percentage for such Distribution Date: . 25.13390800%
xxvi) Category A-Group II Senior Percentage for such
Distribution Date: ..................................... 15.67731300%
xxvii) Category B-Group II Senior Percentage for such
Distribution Date: ..................................... 5.44937900%
xxviii) Category C-Group II Senior Percentage for such
Distribution Date: ..................................... 4.00721700%
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: .......... 4.68535000%
xxxxiii)Junior Prepayment Percentage for such Distribution Date: 0.00000000%
Exhibit 99.15
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
FEBRUARY 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: $ 2,171,527.45
(2) Aggregate Monthly Payments received and Monthly Advances made this
Month:
(a) Principal $ 333,348.30
(b) Interest $ 1,838,399.25
(c) Total $ 2,171,747.55
(3) Aggregate Principal Prepayments in part received on Self- Amortizing
Mortgage Loans and applied in the applicable Prepayment Period:
(a) Principal $ 46,677.41
(c) Total $ 46,677.41
(4) Aggregate Principal Prepayments in full received in the applicable
Prepayment period:
(a) Principal $ 2,570,001.16
(b) Interest $ 33,548.80
(c) Total $ 2,603,549.96
(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: $ 228,719,803.01
(11) Available Funds: $ 4,711,897.06
(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: $ 1,624.49
(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 $ 287,961.98 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 $ 414,546.29 2.17%
Class M 36157RAH8 $ 37,378.00 7.410%
Class B1 36157RAJ4 $ 38,260.75 7.585%
Class B2 36157RAK1 $ 11,995.36 7.925%
Class B3 36157RAL9 $ 18,652.83 9.244%
Class B4 36157RAM7 $ 13,991.53 9.244%
Class B5 36157RAN5 $ 13,998.71 9.244%
Total $ 1,761,870.19
(21) Principal distributable:
Class A1 36157RAA3 $ 2,920,910.45
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 $ 8,822.13
Class B1 36157RAJ4 $ 8,822.13
Class B2 36157RAK1 $ 2,647.22
Class B3 36157RAL9 $ 3,529.14
Class B4 36157RAM7 $ 2,647.22
Class B5 36157RAN5 $ 2,648.58
Class R1 36157RAP0 $ 0.00
Class R2 36157RAQ8 $ 0.00
Total $ 2,950,026.87
<PAGE>
(22) Additional distributions to the Class R1 Certificate pursuant to
Section 2.05 (d) : $ 0.00
(23) Additional distributions to the Class R2 Certificate pursuant to
Section 4.01 (b) : $ 0.00
B. Other Amounts:
(1) Senior Percentage for such Distribution Date: 91.265467%
(2) Senior Prepayment Percentage for such Distribution Date: 100.00%
(3) Junior Percentage for such Distribution Date: 8.734533%
(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
FEBRUARY 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 $ 43.72620436
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 $ 1.44341181
Class B1 36157RAJ4 $ 1.44341181
Class B2 36157RAK1 $ 1.44341181
Class B3 36157RAL9 $ 1.44341181
Class B4 36157RAM7 $ 1.44341181
Class B5 36157RAN5 $ 1.44341181
Class R1 36157RAP0 $ 0.00000000
Class R2 36157RAQ8 $ 0.00000000
(2) Aggregate Principal prepayments included in distribution:
Class A1 36157RAA3 $ 2,616,678.57
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 $ 4.31080810 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 $ 1.81246348 2.17%
Class M 36157RAH8 $ 6.11551084 7.410%
Class B1 36157RAJ4 $ 6.25993924 7.585%
Class B2 36157RAK1 $ 6.54054297 7.925%
Class B3 36157RAL9 $ 7.62897021 9.244%
Class B4 36157RAM7 $ 7.62897021 9.244%
Class B5 36157RAN5 $ 7.62897021 9.244%
(4) Servicing Compensation: $ 107,738.23
The amounts below are for the aggregate of all Certificates:
(5) Pool Principal Balance; $ 228,719,803.01
number of Mortgage Loans: 3,237
<PAGE>
(6) Class Certificate Principal Balance of each Class; Certificate
Principal Balance of Single Certificate of each class:
Single
Certificate
Class Cusip# Class Balance Balance
----- ------ ------------- -------
Class A1 36157RAA3 $ 48,348,285.01 $ 723.77672168
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 $ 6,044,295.64 $ 988.92271677
Class B1 36157RAJ4 $ 6,044,295.64 $ 988.92271677
Class B2 36157RAK1 $ 1,813,684.26 $ 988.92271677
Class B3 36157RAL9 $ 2,417,916.04 $ 988.92271677
Class B4 36157RAM7 $ 1,813,684.26 $ 988.92271677
Class B5 36157RAN5 $ 1,814,615.27 $ 988.92271677
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; $ 68,956.65
number of related Mortgage Loans: 1
(8) Aggregate Scheduled Principal Balance and number of delinquent
Mortgage Loans:
One Payment Delinquent $ 2,585,937.84
34
Two Payments Delinquent $ 659,712.10
11
Three or more Payments Delinquent $ 812,771.89
10
TOTAL $ 4,058,421.83
55
In foreclosure $ 1,346,320.04
23
<PAGE>
(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
(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: 91.265467%
(13) Senior Prepayment Percentage for such Distribution
Date: 100.000000%
(14) Junior Percentage for such Distribution Date: 8.734533%
(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
February 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 ................................$ 221,647.53
(b) Interest .................................$ 2,106,212.39
(c) Total ....................................$ 2,327,859.92
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ................................$ 221,647.53
(b) Interest .................................$ 2,043,075.53
(c) Total ....................................$ 2,264,723.06
3. Aggregate Principal Prepayments in part received and applied in prior
month: .........................................$ 303,396.59
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ................................$ 10,950,524.03
(b) Interest .................................$ 71,165.29
(c) Total ....................................$ 11,021,689.32
<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: .............$ 309,311,274.42
10. Available Funds: ..............................$ 13,589,808.97
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: .................$ 3,180.62
<PAGE>
15. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 7-A1......$ 205,073.65 $ 0.00 8.99999986%
Class 7-A2......$ 29,512.33 $ 0.00 7.20000051%
Class 7-A3......$ 774,593.52 $ 0.00 7.15000004%
Class 7-A4......$ 90,598.14 $ 0.00 7.12499982%
Class 7-A5......$ 215,928.35 $ 0.00 7.99999997%
Class 7-A6......$ 71,426.62 $ 0.00 7.12499972%
Class 7-A7......$ 24,506.14 $ 0.00 7.50000027%
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.......$ 32,702.78 $ 0.00 7.49999613%
Class 7-B1......$ 21,801.84 $ 0.00 7.49999155%
Class 7-B2......$ 16,351.39 $ 0.00 7.49999753%
Class 7-B3......$ 10,900.92 $ 0.00 7.49999153%
Class 7-B4......$ 3,270.26 $ 0.00 7.49996775%
Class 7-B5......$ 7,630.66 $ 0.00 7.49999416%
Class 7-S.......$ 111,075.36 $ 0.00 0.43341400%
Class 7-R.......$ 0.00 $ 0.00 0.00000000%
16. Accrual Amount:
Class 7-A9.................... $ 44,118.86
17. Principal distributable:
Class 7-A1......$ 1,636,913.83 Class 7-A11....$ 0.00
Class 7-A2......$ 294,462.12 Class 7-A12....$ 0.00
Class 7-A3......$ 7,782,628.05 Class 7-PO.....$ 6,929.60
Class 7-A4......$ 588,924.29 Class 7-M......$ 3,614.71
Class 7-A5......$ 1,155,468.58 Class 7-B1.....$ 2,409.81
Class 7-A6......$ 0.00 Class 7-B2.....$ 1,807.35
Class 7-A7......$ 44,118.86 Class 7-B3.....$ 1,204.90
Class 7-A8......$ 0.00 Class 7-B4.....$ 361.47
Class 7-A9......$ 0.00 Class 7-B5.....$ 843.44
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:.......... 0.433414%
B. Other Amounts:
1. Senior Percentage for such Distribution Date: ........... 95.374400%
2. Senior Prepayment Percentage for such Distribution Date: 100.000000%
3. Junior Percentage for such Distribution Date: ........... 4.625600%
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
February 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 $1,000:
i) The amount of such distribution allocable to principal:
Class 7-A1....$ 51.89491332 Class 7-A11....$ 0.00000000
Class 7-A2....$ 51.89491382 Class 7-A12....$ 0.00000000
Class 7-A3....$ 51.89494794 Class 7-PO.....$ 24.57464351
Class 7-A4....$ 35.11858190 Class 7-M......$ 0.68803142
Class 7-A5....$ 32.68305661 Class 7-B1.....$ 0.68803237
Class 7-A6....$ 0.00000000 Class 7-B2.....$ 0.68802965
Class 7-A7....$ 10.55475120 Class 7-B3.....$ 0.68802952
Class 7-A8....$ 0.00000000 Class 7-B4.....$ 0.68803070
Class 7-A9....$ 0.00000000 Class 7-B5.....$ 0.68803647
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....$ 50.93803796 Class 7-A8.....$ 0.00000000
Class 7-A2....$ 50.93803845 Class 7-A9.....$ 0.00000000
Class 7-A3....$ 50.93807194 Class 7-10.....$ 0.00000000
Class 7-A4....$ 34.47104048 Class 7-11.....$ 0.00000000
Class 7-A5....$ 32.08042314 Class 7-12.....$ 0.00000000
Class 7-A6....$ 0.00000000 Class 7-PO.....$ 24.12151873
Class 7-A7....$ 10.36013518 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....$ 6.50142915 Class 7-M.....$ 6.22471520
Class 7-A2....$ 5.20114377 Class 7-B1....$ 6.22471139
Class 7-A3....$ 5.16502782 Class 7-B2....$ 6.22471638
Class 7-A4....$ 5.40252500 Class 7-B3....$ 6.22471139
Class 7-A5....$ 6.10765070 Class 7-B4....$ 6.22469160
Class 7-A6....$ 5.93749977 Class 7-B5....$ 6.22471352
Class 7-A7....$ 5.86271292 Class 7-R.....$ 0.00000000
Class 7-A8....$ 6.25000000 Class 7-S.....$ 0.32967878
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........... $ 44,118.86
v) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:........$ 0.19847987
(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:..........$ 309,311,274.42
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:.................... 1,106
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........ $ 25,706,239.92 $ 814.96
Class 7-A2........ $ 4,624,259.20 $ 814.96
Class 7-A3........ $ 122,219,080.92 $ 814.96
Class 7-A4........ $ 14,669,710.20 $ 874.78
Class 7-A5........ $ 31,233,784.03 $ 883.46
<PAGE>
Class 7-A6........ $ 12,029,747.00 $ 1,000.00
Class 7-A7........ $ 3,876,863.40 $ 927.48
Class 7-A8........ $ 2,760,000.00 $ 1,000.00
Class 7-A9........ $ 7,103,136.60 $ 1,044.58
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....... $ 273,426.17 $ 969.66
Class 7-M......... $ 5,228,832.79 $ 995.27
Class 7-B1........ $ 3,485,888.52 $ 995.27
Class 7-B2........ $ 2,614,415.91 $ 995.27
Class 7-B3........ $ 1,742,944.27 $ 995.27
Class 7-B4........ $ 522,882.38 $ 995.27
Class 7-B5........ $ 1,220,063.11 $ 995.27
Class 7-S......... $ 296,670,905.85 $ 880.54
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 10 Principal Balance $ 2,353,318.24
(2) 60-89 days
Number 3 Principal Balance $ 859,933.16
(3) 90 days or more
Number 0 Principal Balance $ 0.00
(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: ... 95.374400%
The Junior Percentage for such Distribution Date: ... 4.625600%
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
February 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 ................................$ 332,481.05
(b) Interest .................................$ 2,942,151.10
(c) Total ....................................$ 3,274,632.15
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ................................$ 332,481.05
(b) Interest .................................$ 2,858,514.29
(c) Total ....................................$ 3,190,995.34
3. Aggregate Principal Prepayments in part received and applied in prior
month: .........................................$ 82,839.68
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ................................$ 21,171,134.05
(b) Interest .................................$ 125,718.90
(c) Total ....................................$ 21,296,852.95
<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: .............$ 451,008,065.63
10. Available Funds: ..............................$ 24,570,687.97
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: .................$ 11,599.51
<PAGE>
14. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 8-A1........$ 111,834.28 $ 0.00 7.24999994%
Class 8-A2........$ 73,396.06 $ 0.00 7.25000008%
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 .......$ 593,472.22 $ 0.00 7.25000005%
Class 8-A8 .......$ 308,139.55 $ 0.00 7.25000005%
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 ......$ 91,862.26 $ 0.00 6.97500032%
Class 8-A15 ......$ 26,669.69 $ 0.00 8.38928540%
Class 8-A16 ......$ 427,368.62 $ 0.00 7.25000008%
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.........$ 46,798.94 $ 0.00 7.25000005%
Class 8-B1........$ 28,683.03 $ 0.00 7.25000081%
Class 8-B2........$ 22,646.38 $ 0.00 7.24999446%
Class 8-B3........$ 15,097.59 $ 0.00 7.24999608%
Class 8-B4........$ 4,528.67 $ 0.00 7.24998874%
Class 8-B5........$ 10,567.36 $ 0.00 7.24999207%
Class 8-R.........$ 0.27 $ 0.00 7.12871287%
Class 8-RL........$ 0.27 $ 0.00 7.12871287%
Class 8-S.........$ 131,742.46 $ 0.00 0.35519098%
15. Accrual Amount:
Class A9 Certificate $ 26,309.45
Class A10 Certificate $ 72,603.18
16. Principal distributable:
Class 8-A1.....$ 13,020.25 Class 8-A15...$ 2,409,535.45
Class 8-A2.....$ 364,575.90 Class 8-A16...$ 5,382,389.01
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....$ 415.35
Class 8-A7.....$ 534,076.07 Class 8-M.....$ 5,448.54
Class 8-A8.....$ 2,984,048.91 Class 8-B1....$ 3,339.41
Class 8-A9.....$ 0.00 Class 8-B2....$ 2,636.59
Class 8-A10....$ 0.00 Class 8-B3....$ 1,757.73
Class 8-A11....$ 0.00 Class 8-B4....$ 527.25
<PAGE>
Class 8-A12....$ 0.00 Class 8-B5....$ 1,230.30
Class 8-A13....$ 0.00 Class 8-R.....$ 3.46
Class 8-A14....$ 9,982,359.73 Class 8-RL....$ 3.46
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:... 6.975000%
Class A15 Certificates:... 8.389285%
Class S Certificates:..... 0.355191%
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
B. Other Amounts:
1. Senior Percentage for such Distribution Date: ............. 95.501405%
2. Category B-Group I Senior Percentage for such Distribution
Date: ..................................................... 89.398614%
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: ............. 4.498595%
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
February 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
$1,000:
i) The amount of such distribution allocable to principal:
Class 8-A1.....$ 0.70140872 Class 8-A15.....$ 356.00710113
Class 8-A2.....$ 27.33157658 Class 8-A16.....$ 69.16202056
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......$ 0.90038548
Class 8-A7.....$ 5.36253258 Class 8-M.......$ 0.70140834
Class 8-A8.....$ 54.25543473 Class 8-B1......$ 0.70140937
Class 8-A9.....$ 0.00000000 Class 8-B2......$ 0.70140729
Class 8-A10....$ 0.00000000 Class 8-B3......$ 0.70140862
Class 8-A11....$ 0.00000000 Class 8-B4......$ 0.70141014
Class 8-A12....$ 0.00000000 Class 8-B5......$ 0.70140819
Class 8-A13....$ 0.00000000 Class 8-R.......$ 69.20000000
Class 8-A14....$ 356.00710127 Class 8-RL......$ 0.00000690
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.....$ 0.69108371 Class 8-A14.....$ 350.76653599
Class 8-A2.....$ 26.92924497 Class 8-A15.....$ 350.76653585
Class 8-A3.....$ 0.00000000 Class 8-A16.....$ 68.14392827
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.....$ 5.28359398 Class 8-PO......$ 0.88713145
Class 8-A8.....$ 53.45677328 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.......$ 68.18134864
Class 8-RL......$ 0.00000680
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 8-A1.....$ 6.02458008 Class 8-A15.....$ 3.94042720
Class 8-A2.....$ 5.50236599 Class 8-A16.....$ 5.49155351
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.......$ 6.02458033
Class 8-A7.....$ 5.95891540 Class 8-B1......$ 6.02458097
Class 8-A8.....$ 5.60253727 Class 8-B2......$ 6.02457569
Class 8-A9.....$ 0.00000000 Class 8-B3......$ 6.02457702
Class 8-A10....$ 0.00000000 Class 8-B4......$ 6.02457097
Class 8-A11....$ 6.04166643 Class 8-B5......$ 6.02457360
Class 8-A12....$ 6.04166790 Class 8-R.......$ 5.40000000
Class 8-A13....$ 6.04166678 Class 8-RL......$ 5.40000000
Class 8-A14....$ 3.27614089 Class 8-S.......$ 0.52576264
iv) Accrual Amount:
Class 8-A9 Certificates $ 26,309.45
Class 8-A10 Certificates $ 72,603.18
v) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:.....$ 96,709.48
(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:.......$ 451,008,065.63
<PAGE>
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:................. 1,504
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..................$ 18,497,481.42 $ 996.47
Class 8-A2..................$ 11,783,737.35 $ 883.40
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..................$ 97,695,807.93 $ 980.94
Class 8-A8..................$ 48,018,359.04 $ 873.06
Class 8-A9..................$ 4,380,976.72 $ 1,030.58
Class 8-A10.................$ 12,089,681.91 $ 1,030.58
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.................$ 5,821,899.32 $ 207.63
Class 8-A15.................$ 1,405,286.25 $ 207.63
Class 8-A16.................$ 65,354,485.26 $ 839.78
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..................$ 457,701.08 $ 992.19
Class 8-M...................$ 7,740,582.85 $ 996.47
Class 8-B1..................$ 4,744,196.06 $ 996.47
Class 8-B2..................$ 3,745,732.62 $ 996.47
Class 8-B3..................$ 2,497,155.07 $ 996.47
Class 8-B4..................$ 749,046.88 $ 996.47
Class 8-B5..................$ 1,747,851.89 $ 996.47
Class 8-R...................$ 41.99 $ 839.80
Class 8-RL..................$ 41.99 $ 839.80
Class 8-S...................$ 423,524,973.35 $ 894.51
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 6 Principal Balance $ 1,405,537.67
(2) 60-89 days
Number 1 Principal Balance $ 217,537.91
(3) 90 days or more
Number 1 Principal Balance $ 344,523.58
(b) 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 8-A14 Certificates: .............6.975000%
Class 8-A15 Certificates: .............8.389285%
Class 8-S Certificates: ...............0.355191%
xiii) Senior Percentage for such Distribution Date:......... 95.50140500%
xiv) Category B Group I Senior Percentage for such Distribution
Date:.................................................. 89.39861400%
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: ........ 4.49859500%
xix) Junior Prepayment Percentage for such Distribution Date: 0.00000000%
Exhibit 99.21
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
February 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 ................................$ 455,352.39
(b) Interest .................................$ 898,064.52
(c) Total ....................................$ 1,353,416.91
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ................................$ 455,352.39
(b) Interest .................................$ 871,346.86
(c) Total ....................................$ 1,326,699.25
3. Aggregate Principal Prepayments in part received and applied in prior
month: .........................................$ 101,530.55
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ................................$ 5,668,392.87
(b) Interest .................................$ 31,245.62
(c) Total ....................................$ 5,699,638.49
<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: .............$ 140,699,640.40
10. Available Funds: ..............................$ 7,127,868.29
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: .................$ 5,094.32
<PAGE>
14. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 10-A1......$ 266,222.08 $ 0.00 6.75000009%
Class 10-A2......$ 99,527.27 $ 0.00 6.75000009%
Class 10-A3......$ 152,506.75 $ 0.00 6.74999993%
Class 10-A4......$ 56,546.67 $ 0.00 6.74999955%
Class 10-A5......$ 114,020.69 $ 0.00 6.74999996%
Class 10-A6......$ 113,891.71 $ 0.00 6.74999979%
Class 10-M.......$ 8,616.88 $ 0.00 6.74999968%
Class 10-B1......$ 4,305.66 $ 0.00 6.74999636%
Class 10-B2......$ 4,305.66 $ 0.00 6.74999636%
Class 10-B3......$ 2,583.40 $ 0.00 6.75000663%
Class 10-B4......$ 1,722.26 $ 0.00 6.74998050%
Class 10-B5......$ 2,156.24 $ 0.00 6.75009554%
Class 10-S.......$ 76,187.21 $ 0.00 0.62515300%
Class 10-R.......$ 0.00 $ 0.00 0.00000000%
15. Principal distributable:
Class 10-A1.......$ 2,060,285.05 Class 10-M....$ 4,747.64
Class 10-A2.......$ 2,068,212.27 Class 10-B1...$ 2,372.29
Class 10-A3.......$ 2,020,941.67 Class 10-B2...$ 2,372.29
Class 10-A4.......$ 0.00 Class 10-B3...$ 1,423.37
Class 10-A5.......$ 0.00 Class 10-B4...$ 948.92
Class 10-A6.......$ 62,750.83 Class 10-B5...$ 1,188.00
Class 10-PO.......$ 33.48 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:..... 0.625153%
B. Other Amounts:
1. Senior Percentage for such Distribution Date: ........... 97.133358%
2. Category A-Senior Percentage for such Distribution Date: 32.214471%
3. Category B-Senior Percentage for such Distribution Date: 64.918888%
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: 51.137306%
7. Cat. B Group II Senior Percentage for such Distribution Date:13.781582%
8. Senior Prepayment Percentage for such Distribution Date: . 100.000000%
9. Junior Percentage for such Distribution Date: ............ 2.866642%
10. Junior Prepayment Percentage for such Distribution Date: . 0.000000%
11. Class A6 Percentage:...................................... 21.228924%
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
February 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
$1,000:
i) The amount of such distribution allocable to principal:
Class 10-A1.....$ 41.20570100 Class 10-M.......$ 3.06101870
Class 10-A2.....$ 101.93761496 Class 10-B1......$ 3.06101935
Class 10-A3.....$ 68.16392619 Class 10-B2......$ 3.06101935
Class 10-A4.....$ 0.00000000 Class 10-B3......$ 3.06101075
Class 10-A5.....$ 0.00000000 Class 10-B4......$ 3.06103226
Class 10-A6.....$ 3.06101610 Class 10-B5......$ 3.06100277
Class 10-PO.....$ 3.91363812 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.....$ 38.27192417 Class 10-M.......$ 0.00000000
Class 10-A2.....$ 94.67982767 Class 10-B1......$ 0.00000000
Class 10-A3.....$ 63.31076892 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.....$ 2.84307689 Class 10-B5......$ 0.00000000
Class 10-PO.....$ 3.63499365 Class 10-R.......$ 0.00000000
<PAGE>
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 10-A1.....$ 5.32444160 Class 10-B1......$ 5.55569032
Class 10-A2.....$ 4.90547932 Class 10-B2......$ 5.55569032
Class 10-A3.....$ 5.14386882 Class 10-B3......$ 5.55569892
Class 10-A4.....$ 5.62499963 Class 10-B4......$ 5.55567742
Class 10-A5.....$ 5.62499997 Class 10-B5......$ 5.55577156
Class 10-A6.....$ 5.55569317 Class 10-R.......$ 0.00000000
Class 10-M......$ 5.55569310 Class 10-S.......$ 0.00000000
iv) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:.....$ 30,998.79
(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:.......$ 140,699,640.40
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:................. 458
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..............$ 45,268,084.13 $ 905.36
Class 10-A2..............$ 15,625,524.38 $ 770.15
Class 10-A3..............$ 25,091,369.72 $ 846.30
Class 10-A4..............$ 10,052,742.00 $ 1,000.00
Class 10-A5..............$ 20,270,345.00 $ 1,000.00
Class 10-A6..............$ 20,184,664.90 $ 984.62
Class 10-PO..............$ 8,393.54 $ 981.16
Class 10-M...............$ 1,527,142.21 $ 984.62
Class 10-B1..............$ 763,078.79 $ 984.62
Class 10-B2..............$ 763,078.79 $ 984.62
Class 10-B3..............$ 457,847.29 $ 984.62
Class 10-B4..............$ 305,231.52 $ 984.62
Class 10-B5..............$ 382,138.13 $ 984.62
Class 10-R...............$ 0.00 $ 0.00
Class 10-S...............$ 140,021,074.17 $ 907.22
<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 $ 342,460.47
(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: ........................ 0.625153%
xii) Senior Percentage for such Distribution Date: ............97.13335800%
xiii)Category A-Senior Percentage for such Distribution Date: .32.21447100%
xiv) Category B-Senior Percentage for such Distribution Date: .64.91888800%
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:.................................................... 51.137306%
xix) Cat. B Group II Senior Percentage for such Distribution
Date:.................................................... 13.781582%
xx) Class A6 Percentage...................................... 21.22892400%
xxi) Class A6 Prepayment Distribution Percentage:............. 0.00000000%
xxii) Junior Percentage for such Distribution Date: ............ 2.86664200%
xxii) Junior Prepayment Percentage for such Distribution Date: 0.00000000%
Exhibit 99.23
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
FEBRUARY 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: $ 2,197,549.75
(2) Aggregate Monthly Payments received and Monthly Advances made this
Month:
(a) Principal $ 370,015.95
(b) Interest $ 1,829,660.50
(c) Total $ 2,199,676.45
(3) Aggregate Principal Prepayments in part received on Self- Amortizing
Mortgage Loans and applied in the applicable Prepayment Period:
(a) Principal $ 308,633.95
(c) Total $ 308,633.95
(4) Aggregate Principal Prepayments in full received in the applicable
Prepayment period:
(a) Principal $ 1,739,800.39
(b) Interest $ 17,135.06
(c) Total $ 1,756,935.45
<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: $ 228,284,286.59
(11) Available Funds: $ 4,155,964.99
(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: $ 3,454.88
(15) Net Simple Interest Shortfall: $ 0.00
(16) Net Simple Interest Excess: $ 2,189.31
(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 9.133%
Class B4 36157NBX1 9.133%
Class B5 36157NBY9 9.133%
Class S 36197HE3S 2.39%
<PAGE>
(20) Accrued Certificate Interest and Pay-out Rate:
Class A1 36157NBK9 $ 374,161.09 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 $ 453,895.31 2.39%
Class M 36157NBT0 $ 35,276.91 7.200%
Class B1 36157NBU7 $ 31,967.30 7.250%
Class B2 36157NBV5 $ 14,892.18 7.600%
Class B3 36157NBW3 $ 17,904.48 9.133%
Class B4 36157NBX1 $ 13,426.47 9.133%
Class B5 36157NBY9 $ 13,428.32 9.133%
Total $ 1,737,514.70
(21) Principal distributable:
Class A1 36157NBK9 $ 2,387,001.24
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 $ 9,529.80
Class B1 36157NBU7 $ 8,576.17
Class B2 36157NBV5 $ 3,811.27
Class B3 36157NBW3 $ 3,812.89
Class B4 36157NBX1 $ 2,859.26
Class B5 36157NBY9 $ 2,859.66
Class R1 36157NBR4 $ 0.00
Class R2 36157NBS2 $ 0.00
Total $ 2,418,450.29
(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: 91.500624%
(2) Senior Prepayment Percentage for such Distribution Date: 100.000000%
(3) Junior Percentage for such Distribution Date: 8.499376%
(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
FEBRUARY 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 $ 31.00001612
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 $ 1.61085156
Class B1 36157NBU7 $ 1.61085156
Class B2 36157NBV5 $ 1.61085156
Class B3 36157NBW3 $ 1.61085156
Class B4 36157NBX1 $ 1.61085156
Class B5 36157NBY9 $ 1.61085156
Class R1 36157NBR4 $ 0.00000000
Class R2 36157NBS2 $ 0.00000000
(2) Aggregate Principal prepayments included in distribution:
Class A1 36157NBK9 $ 2,048,434.34
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 $ 4.85923488 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 $ 1.98828978 2.39%
Class M 36157NBT0 $ 5.96296616 7.200%
Class B1 36157NBU7 $ 6.00437565 7.250%
Class B2 36157NBV5 $ 6.29424206 7.600%
Class B3 36157NBW3 $ 7.56420975 9.133%
Class B4 36157NBX1 $ 7.56420975 9.133%
Class B5 36157NBY9 $ 7.56420975 9.133%
(4) Servicing Compensation: $ 103,271.09
The amounts below are for the aggregate of all Certificates:
(5) Pool Principal Balance; $ 228,284,286.59
number of Mortgage Loans: 3,638
(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 $ 66,371,544.45 $ 861.96810975
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 $ 5,869,954.84 $ 992.21684225
Class B1 36157NBU7 $ 5,282,562.47 $ 992.21684225
Class B2 36157NBV5 $ 2,347,585.05 $ 992.21684225
Class B3 36157NBW3 $ 2,348,577.27 $ 992.21684225
Class B4 36157NBX1 $ 1,761,184.89 $ 992.21684225
Class B5 36157NBY9 $ 1,761,427.33 $ 992.21684225
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 $ 2,030,198.31
37
Two Payments Delinquent $ 1,255,425.27
19
Three or more Payments Delinquent $ 209,130.37
5
TOTAL $ 3,494,753.95
61
In foreclosure $ 157,623.92
4
(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 9.133%
Class B4 36157NBX1 9.133%
Class B5 36157NBY9 9.133%
Class S 36197HE3S 2.39%
(12) Senior Percentage for such Distribution Date: 91.500624%
(13) Senior Prepayment Percentage for such Distribution Date:100.000000%
(14) Junior Percentage for such Distribution Date: 8.499376%
(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
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 .....................$ 339,421.46 $ 246,703.38
(b) Interest ......................$ 3,005,970.50 $ 2,126,915.77
(c) Total .........................$ 3,345,391.96 $ 2,373,619.15
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal .....................$ 339,421.46 $ 246,703.38
(b) Interest ......................$ 2,924,110.53 $ 2,064,177.83
(c) Total .........................$ 3,263,531.99 $ 2,310,881.21
3. Aggregate Principal Prepayments in part received and applied in the
applicable Prepayment Period:........$ 474,867.35 $ 232,894.18
4. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal .....................$ 24,609,633.50 $ 11,316,152.82
(b) Interest ......................$ 145,089.83 $ 65,927.81
(c) Total .........................$ 24,754,723.33 $ 11,382,080.63
<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.....$ 459,799,121.62 $329,484,902.66
10. Available Funds: ...................$ 28,493,122.67 $ 13,925,856.02
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: ....$ 15,952.71 $ 7,406.62
14. Accrued Certificate Interest, unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 1-A1....$ 108,853.11 $ 0.00 6.75000019%
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....$ 436,872.02 $ 0.00 7.00000000%
Class 1-A7....$ 0.00 $ 0.00 0.00000000%
Class 1-A8....$ 33,801.97 $ 0.00 6.99999902%
Class 1-A9....$ 208,636.81 $ 0.00 7.00000000%
Class 1-A10...$ 43,947.44 $ 0.00 7.00000079%
Class 1-A11...$ 133,031.29 $ 0.00 2.22081462%
Class 1-A12...$ 120,846.09 $ 0.00 7.24999991%
Class 1-A13...$ 363,461.23 $ 0.00 7.25000005%
Class 1-A14...$ 252,712.49 $ 0.00 7.25000014%
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.....$ 137,743.54 $ 0.00 0.34264800%
Class 1-M.....$ 46,831.25 $ 0.00 7.24999975%
Class 1-B1....$ 28,702.83 $ 0.00 7.24999982%
Class 1-B2....$ 22,659.02 $ 0.00 7.25000035%
Class 1-B3....$ 15,105.01 $ 0.00 7.25000103%
Class 1-B4....$ 4,531.80 $ 0.00 7.24999395%
Class 1-B5....$ 10,581.88 $ 0.00 7.25003256%
Class 1-R.....$ 0.00 $ 0.00 0.00000000%
Class 1-RL....$ 0.00 $ 0.00 0.00000000%
Class 2-A1....$ 204,154.47 $ 0.00 6.99999999%
Class 2-A2....$ 102,077.24 $ 0.00 7.00000034%
Class 2-A3....$ 448,768.85 $ 0.00 7.00000002%
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....$ 611,075.25 $ 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.....$ 140,345.59 $ 0.00 0.50950976%
Class 2-PO....$ 0.00 $ 0.00 0.00000000%
Class 2-M.....$ 31,644.12 $ 0.00 7.00000055%
Class 2-B1....$ 19,394.47 $ 0.00 6.99998917%
Class 2-B2....$ 15,311.26 $ 0.00 6.99998434%
Class 2-B3....$ 10,206.53 $ 0.00 6.99997983%
Class 2-B4....$ 3,061.65 $ 0.00 6.99993873%
Class 2-B5....$ 7,148.70 $ 0.00 6.99997235%
<PAGE>
15. Principal Distribution Amount:
Class 1-A1....$ 395,462.51 Class 2-A1....$ 25,296.99
Class 1-A2....$ 0.00 Class 2-A2....$ 12,648.50
Class 1-A3....$ 0.00 Class 2-A3....$ 5,867,114.86
Class 1-A4....$ 0.00 Class 2-A4....$ 0.00
Class 1-A5....$ 0.00 Class 2-A5....$ 0.00
Class 1-A6....$ 13,880,469.54 Class 2-A6....$ 0.00
Class 1-A7....$ 699,635.36 Class 2-A7....$ 5,879,763.36
Class 1-A8....$ 60,487.88 Class 2-A8....$ 0.00
Class 1-A9....$ 25,019.03 Class 2-A9....$ 0.00
Class 1-A10...$ 5,270.03 Class 2-A10...$ 0.00
Class 1-A11...$ 544,480.25 Class 2-PO....$ 175.31
Class 1-A12...$ 13,991.75 Class 2-M.....$ 3,921.06
Class 1-A13...$ 9,954,657.29 Class 2-B1....$ 2,403.19
Class 1-A14...$ 194,943.35 Class 2-B2....$ 1,897.24
Class 1-A15...$ 0.00 Class 2-B3....$ 1,264.71
Class 1-A16...$ 0.00 Class 2-B4....$ 379.38
Class 1-A17...$ 0.00 Class 2-B5....$ 885.78
Class 1-PO....$ 15.18
Class 1-M.....$ 5,422.20
Class 1-B1....$ 3,323.26
Class 1-B2....$ 2,623.50
Class 1-B3....$ 1,748.88
Class 1-B4....$ 524.70
Class 1-B5....$ 1,225.18
Class 1-R.....$ 0.00
Class 1-RL....$ 0.00
16. Accrual Amount:
Class 1-A7 $ 4,057.54
Class 1-A11C $ 310,928.38
Class 1-A11D $ 50,391.66
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.........................0.34264800%
Class 2-S.........................0.50950900%
B. Other Amounts for such Distribution Date:
Pool 1 Pool 2
1. Senior Percentage: .........................95.61952500% 95.63933000%
2. Pool 1 Category A Group II Senior Percentage:20.56564700% N/A
3. Class 1-A12 Percentage.......................10.77813300% N/A
4. Class 2-A1 Percentage........................ N/A 10.72807100%
5. Class 2-A2 Percentage........................ N/A 5.36403500%
6. Senior Prepayment Percentage: .............100.00000000% 100.00000000%
7. Junior Percentage: ..........................4.38047500% 4.36067000%
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
February 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 $1,000.
1) The amount of such distribution allocable to principal:
Class 1-A1......$ 19.53383601 Class 2-A1.....$ 0.72124622
Class 1-A2......$ 0.00000000 Class 2-A2.....$ 0.72124651
Class 1-A3......$ 0.00000000 Class 2-A3.....$ 71.93177049
Class 1-A4......$ 0.00000000 Class 2-A4.....$ 0.00000000
Class 1-A5......$ 0.00000000 Class 2-A5.....$ 0.00000000
Class 1-A6......$181.15987392 Class 2-A6.....$ 0.00000000
Class 1-A7......$ 86.74479337 Class 2-A7.....$ 53.73229057
Class 1-A8......$ 10.12349456 Class 2-A8.....$ 0.00000000
Class 1-A9......$ 0.69801719 Class 2-A9.....$ 0.00000000
Class 1-A10.....$ 0.69801722 Class 2-A10....$ 0.00000000
Class 1-A11.....$ 7.65241138 Class 2-PO.....$ 0.97669721
Class 1-A12.....$ 0.69801696 Class 2-M......$ 0.72124713
Class 1-A13.....$150.67974404 Class 2-B1.....$ 0.72124550
Class 1-A14.....$ 4.61568249 Class 2-B2.....$ 0.72124691
Class 1-A15.....$ 0.00000000 Class 2-B3.....$ 0.72124893
Class 1-A16.....$ 0.00000000 Class 2-B4.....$ 0.72125475
Class 1-A17.....$ 0.00000000 Class 2-B5.....$ 0.72122481
Class 1-PO......$ 0.92281486
Class 1-M.......$ 0.69801751
Class 1-B1......$ 0.69801722
Class 1-B2......$ 0.69801783
Class 1-B3......$ 0.69801636
Class 1-B4......$ 0.69801783
Class 1-B5......$ 0.69801631
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.....$ 19.28432733 Class 2-A1.....$ 0.70680587
Class 1-A2.....$ 0.00000000 Class 2-A2.....$ 0.70680616
Class 1-A3.....$ 0.00000000 Class 2-A3.....$ 70.49159679
Class 1-A4.....$ 0.00000000 Class 2-A4.....$ 0.00000000
Class 1-A5.....$ 0.00000000 Class 2-A5.....$ 0.00000000
Class 1-A6.....$ 178.84589112 Class 2-A6.....$ 0.00000000
Class 1-A7.....$ 85.63678885 Class 2-A7.....$ 52.65649568
Class 1-A8.....$ 9.99418561 Class 2-A8.....$ 0.00000000
Class 1-A9.....$ 0.68910131 Class 2-A9.....$ 0.00000000
Class 1-A10....$ 0.68910134 Class 2-A10....$ 0.00000000
Class 1-A11....$ 7.55466596 Class 2-PO.....$ 0.95714238
Class 1-A12....$ 0.68910108 Class 2-M......$ 0.00000000
Class 1-A13....$ 148.75508860 Class 2-B1.....$ 0.00000000
Class 1-A14....$ 4.55672567 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.....$ 0.91102760
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.....$ 5.37678982 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.....$ 5.70180136 7.00000000%
Class 1-A7.....$ 0.00000000 7.00000000%
Class 1-A8.....$ 5.65723347 7.00000000%
Class 1-A9.....$ 5.82085233 7.00000000%
Class 1-A10....$ 5.82085298 7.00000000%
Class 1-A11....$ 1.86969161 0.00000000%
Class 1-A12....$ 6.02873984 7.25000000%
Class 1-A13....$ 5.50157012 7.25000000%
Class 1-A14....$ 5.98348502 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......$ 0.39273144 0.34264800%
Class 1-M......$ 6.02873970 7.25000000%
Class 1-B1.....$ 6.02873976 7.25000000%
Class 1-B2.....$ 6.02874019 7.25000000%
Class 1-B3.....$ 6.02874077 7.25000000%
Class 1-B4.....$ 6.02873487 7.25000000%
Class 1-B5.....$ 6.02876704 7.25000000%
Class 1-R......$ 0.00000000 7.25000000%
Class 1-RL.....$ 0.00000000 7.25000000%
Class 2-A1.....$ 5.82067828 7.00000000%
Class 2-A2.....$ 5.82067857 7.00000000%
Class 2-A3.....$ 5.50197818 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.....$ 5.58431877 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......$ 0.28004288 0.50950900%
Class 2-PO.....$ 0.00000000 0.00000000%
Class 2-M......$ 5.82067875 7.00000000%
Class 2-B1.....$ 5.82066927 7.00000000%
Class 2-B2.....$ 5.82066527 7.00000000%
Class 2-B3.....$ 5.82066153 7.00000000%
Class 2-B4.....$ 5.82062738 7.00000000%
Class 2-B5.....$ 5.82065499 7.00000000%
4) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:
Pool 1 Pool 2
------ ------
$ 101,529.56 $ 69,321.69
(b) The amounts below are for the aggregate of all certificates.
5) The Pool Scheduled Principal Balances: $459,799,121.62 $329,484,902.66
Number of Mortgage Loans: 1,106 1,518
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........ $ 18,956,200.94 $ 936.34
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........ $ 61,011,876.75 $ 796.29
Class 1-A7........ $ 0.00 $ 0.00
Class 1-A8........ $ 5,734,136.36 $ 959.69
Class 1-A9........ $ 35,741,291.24 $ 997.16
Class 1-A10....... $ 7,528,575.98 $ 997.16
Class 1-A11....... $ 71,699,268.38 $ 1,007.70
Class 1-A12....... $ 19,988,119.94 $ 997.16
Class 1-A13....... $ 50,204,442.42 $ 759.92
Class 1-A14....... $ 41,633,330.06 $ 985.75
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........ $ 16,389.42 $ 996.34
Class 1-S......... $ 456,975,396.38 $ 917.03
Class 1-M......... $ 7,745,957.38 $ 997.16
Class 1-B1........ $ 4,747,490.10 $ 997.16
Class 1-B2........ $ 3,747,834.80 $ 997.16
Class 1-B3........ $ 2,498,390.35 $ 997.16
Class 1-B4........ $ 749,566.96 $ 997.16
Class 1-B5........ $ 1,750,250.54 $ 997.16
Class 1-R........ $ 0.00 $ 0.00
Class 1-RL........ $ 0.00 $ 0.00
Class 2-A1........ $ 34,972,612.19 $ 997.11
Class 2-A2........ $ 17,486,306.08 $ 997.11
Class 2-A3........ $ 71,064,687.82 $ 871.26
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........ $ 98,875,993.90 $ 903.58
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......... $ 318,756,759.06 $ 937.63
Class 2-PO........ $ 178,732.39 $ 995.76
Class 2-M......... $ 5,420,784.80 $ 997.11
Class 2-B1........ $ 3,322,368.24 $ 997.11
Class 2-B2........ $ 2,622,896.06 $ 997.11
Class 2-B3........ $ 1,748,431.19 $ 997.11
Class 2-B4........ $ 524,479.50 $ 997.11
Class 2-B5........ $ 1,224,610.49 $ 997.11
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 7 $ 2,513,414.91
(2) 60-89 days 0 $ 0.00
(3) 90 days or more 0 $ 0.00
(4) in foreclosure 0 $ 0.00
Pool 2................................................
*(1) 30-59 days 7 $ 2,133,065.21
(2) 60-89 days 1 $ 296,650.81
(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: 0.342648%
Class 2-S Certificates: 0.509509%
Pool 1 Pool 2
------ ------
12) Senior Percentage: ........................ 95.61952500% 95.63933000%
13) Pool 1 Category A Group II Senior Percentage 20.56564700% N/A
14) Class 1-A12 Percentage...................... 10.77813300% N/A
15) Class 2-A1 Percentage....................... N/A 10.72807100%
16) Class 2-A2 Percentage....................... N/A 5.364035%
17) Senior Prepayment Percentage................100.00000000% 100.00000000%
20) Junior Percentage ......................... 4.38047500% 4.36067000%
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
February 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-11
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 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 .....................$ 351,360.04
(b) Interest ......................$ 3,108,303.19
(c) Total .........................$ 3,459,663.23
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal .....................$ 351,360.04
(b) Interest ......................$ 3,013,891.29
(c) Total .........................$ 3,365,251.33
3. Aggregate Principal Prepayments in part received and applied in the
applicable prepayment period:.......$ 97,156.26
4. Aggregate Principal Prepayments in full in prior month:
(a) Principal .....................$ 12,506,620.01
(b) Interest ......................$ 72,530.88
(c) Total .........................$ 12,579,150.89
5. Aggregate Insurance Proceeds for prior month:
(a) Principal .....................$ 0.00
(b) Interest ......................$ 0.00
(c) Total .........................$ 0.00
6. Aggregate Liquidation Proceeds for the 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 subsitution adjustments) for Defective
Mortgage Loans:
(a) Principal .....................$ 0.00
(b) Interest ......................$ 0.00
(c) Total .........................$ 0.00
9. Pool Scheduled Principal Balance.....$ 479,406,107.13
10. Available Funds: ....................$ 16,041,558.78
11. Realized Losses for Prior Month: ....$ 0.00
12. Aggregrate 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 Loss .........$ 0.00
(e) Excess Special Hazard Losses ...$ 0.00
(f) Excess Fraud Losses ....... $ 0.00
(g) Debt Service Reductions $ 0.00
<PAGE>
13. Compensating Interest Payment: ......$ 8,738.74
14. Accrued Certificate Interest, unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 1-A1......$ 1,620,826.68 $ 0.00 6.99999999%
Class 1-A2......$ 175,245.00 $ 0.00 7.00000000%
Class 1-A3......$ 274,919.17 $ 0.00 7.00000008%
Class 1-A4......$ 92,376.67 $ 0.00 7.00000025%
Class 1-A5......$ 584,167.50 $ 0.00 7.00000000%
Class 1-PO......$ 0.00 $ 0.00 0.00000000%
Class 1-M.......$ 45,219.38 $ 0.00 7.00000048%
Class 1-B1......$ 27,715.29 $ 0.00 7.00000003%
Class 1-B2......$ 21,878.65 $ 0.00 6.99999917%
Class 1-B3......$ 14,585.77 $ 0.00 7.00000080%
Class 1-B4......$ 4,374.76 $ 0.00 7.00031118%
Class 1-B5......$ 10,214.82 $ 0.00 6.99992353%
Class 1-R.......$ 0.00 $ 0.00 0.00000000%
Class 1-S.......$ 214,898.78 $ 0.00 0.53025900%
15. Principal Distribution Amount:
Class 1-A1......$ 12,939,882.08
Class 1-A2......$ 0.00
Class 1-A3......$ 0.00
Class 1-A4......$ 0.00
Class 1-A5......$ 0.00
Class 1-PO......$ 86.56
Class 1-M.......$ 5,531.74
Class 1-B1......$ 3,390.44
Class 1-B2......$ 2,676.44
Class 1-B3......$ 1,784.29
Class 1-B4......$ 535.15
Class 1-B5......$ 1,249.61
Class 1-R.......$ 0.00
16. Additional Distributions to the Class R Certificate pursuant to
Section 4.01 (c):........................ $ 0.00
17. Certificate Interest Rate of:
Class 1-S................................ 0.53025900%
18. Distributions Allocable to Unanticipated Recoveries:
Class 1-A1....$ 0.00
Class 1-A2....$ 0.00
Class 1-A3....$ 0.00
Class 1-A4....$ 0.00
Class A5-1....$ 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
B. Other Amounts for such Distribution Date:
1. Senior Percentage: .................. 95.68213200%
2. Senior Prepayment Percentage: ....... 100.00000000%
3. Junior Percentage: .................. 4.31786800%
4. Junior Prepayment Percentage: ....... 0.00000000%
5. Class A5 Percentage:.................. 0.00000000%
6. Class A5 Prepayment Percentage:....... 0.00000000%
7. Class A5 Schedule Percentage:......... 0.00000000%
8. Subordinate Certificate Writedown: .. 0.00000000%
<PAGE>
9. 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
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 99.28
GE CAPITAL MORTGAGE SERVICES, INC.
February 1998
DISTRIBUTION DATE STATEMENT
REMIC Multi-Class Pass-Through Certificates
Series 1997-11
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 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...........$45.19993321
Class 1-A2...........$ 0.00000000
Class 1-A3...........$ 0.00000000
Class 1-A4...........$ 0.00000000
Class 1-A5...........$ 0.00000000
Class 1-PO...........$ 0.86354847
Class 1-M............$ 0.71257761
Class 1-B1...........$ 0.71257671
Class 1-B2...........$ 0.71257721
Class 1-B3...........$ 0.71257588
Class 1-B4...........$ 0.71258322
Class 1-B5...........$ 0.71258064
Class 1-R............$ 0.00000000
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........$ 44.02559709 Class 1-M..........$ 0.00000000
Class 1-A2........$ 0.00000000 Class 1-B1.........$ 0.00000000
Class 1-A3........$ 0.00000000 Class 1-B2.........$ 0.00000000
Class 1-A4........$ 0.00000000 Class 1-B3.........$ 0.00000000
Class 1-A5........$ 0.00000000 Class 1-B4.........$ 0.00000000
Class 1-PO........$ 0.84111268 Class 1-B5.........$ 0.00000000
Class 1-R..........$ 0.00000000
<PAGE>
3) The amount of such distribution to the Certificateholders of each
class, allocable to Interest
Class 1-A1.......$ 5.66166347
Class 1-A2.......$ 5.83333333
Class 1-A3.......$ 5.83333340
Class 1-A4.......$ 5.83333354
Class 1-A5.......$ 5.83333333
Class 1-PO.......$ 0.00000000
Class 1-M........$ 5.82498776
Class 1-B1.......$ 5.82498739
Class 1-B2.......$ 5.82498669
Class 1-B3.......$ 5.82498802
Class 1-B4.......$ 5.82524634
Class 1-B5.......$ 5.82492373
Class 1-R........$ 0.00000000
Class 1-S........$ 0.00000000
4) Amount of distribution allocable to Unanticipated Recoveries:
Class 1-A1.........$ 0.00
Class 1-A2.........$ 0.00
Class 1-A3.........$ 0.00
Class 1-A4.........$ 0.00
Class 1-A5.........$ 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
5) The amount of servicing compensation received by the Company during
the month preceding the month of distribution: .......$ 99,568.44
(b) The amounts below are for the aggregate of all certificates.
6) The Pool Scheduled Principal Balances: $ 479,406,107.13
Number of Mortgage Loans: 1,603
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 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.......$ 264,916,120.80 $ 925.37
Class 1-A2.......$ 30,042,000.00 $ 1,000.00
Class 1-A3.......$ 47,129,000.00 $ 1,000.00
Class 1-A4.......$ 15,836,000.00 $ 1,000.00
Class 1-A5.......$ 100,143,000.00 $ 1,000.00
Class 1-PO.......$ 99,968.03 $ 997.31
Class 1-M........$ 7,746,361.44 $ 997.86
Class 1-B1.......$ 4,747,802.11 $ 997.86
Class 1-B2.......$ 3,747,949.72 $ 997.86
Class 1-B3.......$ 2,498,633.14 $ 997.86
Class 1-B4.......$ 749,390.37 $ 997.86
Class 1-B5.......$ 1,749,881.52 $ 997.86
Class 1-R........$ 0.00 $ 0.00
Class 1-S........$ 473,375,677.02 $ 956.76
8) The following pertains to any real estate acquired on behalf of
Certificateholders:
Book Value...............................$ 0.00
Unpaid Principal Balance.................$ 0.00
<PAGE>
9) The aggregate number of Mortgage Loans included in the Principal
Balance set forth above:.....................$ 0.00
10) Aggregate number and aggregate Principal Balances of delinquent
Mortgage Loans, as of the opening of business on the related
Determination Date:
Loans Principal Balance
----- -----------------
*(1) *30-59 days 9 $ 3,068,977.17
(2) 60-89 days 1 $ 283,799.56
(3) 90 days or more 0 $ 0.00
(4) in foreclosure 0 $ 0.00
11) The aggregate number of replaced Mortgage loans and Scheduled
Principal Balance: $ 0.00
0
12) Aggregate Scheduled Principal Balance and number of modified loans:
$ 0.00
0
13) Certificate Interest Rate of:
Class 1-S Certificates: 0.000000%
14) Senior Percentage: ............................ 95.68213200%
15) Senior Prepayment Percentage: ........... 100.00000000%
16) Class A5 Percentage:............................ 0.00000000%
17) Class A5 Scheduled Distribution Percentage
for Distribution Date:.......................... 0.00000000%
18) Class A5 Prepayment Distribution Percentage
for Distribution Date:........................ 0.00000000%
19) Junior Percentage: ............................. 4.31786800%
20) Junior Prepayment Percentage: ................. 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 99.29
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
February 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-12
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 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 ................................$ 455,217.73
(b) Interest .................................$ 4,001,646.00
(c) Total ....................................$ 4,456,863.73
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ................................$ 455,217.73
(b) Interest .................................$ 3,874,619.30
(c) Total ....................................$ 4,329,837.03
3. Aggregate Principal Prepayments in part received and applied in prior
month: .........................................$ 104,472.35
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ................................$ 16,892,905.98
(b) Interest .................................$ 100,676.22
(c) Total ....................................$ 16,993,582.20
<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 ................................$ 322,944.17
(b) Interest .................................$ 1,851.35
(c) Total ....................................$ 324,795.52
9. Pool Scheduled Principal Balance: ..............$ 620,544,954.55
10. Available Funds: ..............................$ 21,752,687.10
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: .................$ 7,178.47
<PAGE>
14. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 12-A1....$ 1,784,129.36 $ 0.00 7.00000001%
Class 12-A2....$ 863,252.77 $ 0.00 6.99999996%
Class 12-A3....$ 97,030.58 $ 0.00 7.00000030%
Class 12-A4....$ 100,083.19 $ 0.00 6.99999971%
Class 12-A5....$ 362,420.64 $ 0.00 7.00000006%
Class 12-A6....$ 360,352.56 $ 0.00 6.99999997%
Class 12-M.....$ 52,637.11 $ 0.00 7.00000034%
Class 12-B1....$ 35,718.04 $ 0.00 7.00000088%
Class 12-B2....$ 28,198.45 $ 0.00 7.00000114%
Class 12-B3....$ 18,798.96 $ 0.00 6.99999865%
Class 12-B4....$ 5,639.69 $ 0.00 7.00000405%
Class 12-B5....$ 13,159.36 $ 0.00 7.00003452%
Class 12-S.....$ 255,726.16 $ 0.00 0.49512300%
Class 12-R.....$ 0.00 $ 0.00 0.00000000%
15. Principal distributable:
Class 12-A1.....$ 11,109,512.68 Class 12-M....$ 6,434.29
Class 12-A2.....$ 6,602,747.45 Class 12-B1...$ 4,366.12
Class 12-A3.....$ 0.00 Class 12-B2...$ 3,446.94
Class 12-A4.....$ 0.00 Class 12-B3...$ 2,297.96
Class 12-A5.....$ 0.00 Class 12-B4...$ 689.39
Class 12-A6.....$ 44,048.99 Class 12-B5...$ 1,608.57
Class 12-PO.....$ 387.84 Class 12-R....$ 0.00
16. Additional distributions to the Class 12-R Certificate pursuant to
Section 4.01(b): ..............................$ 0.00
17. Certificate Interest Rates of:
Class 12-S Certificates:..... 0.495123%
18. Distributions Allocable to Unanticipated Recoveries:
Class 12- A1.....$ 0.00 Class 12- M.....$ 0.00
Class 12- A2.....$ 0.00 Class 12- B1....$ 0.00
Class 12- A3.....$ 0.00 Class 12- B2....$ 0.00
Class 12- A4.....$ 0.00 Class 12- B3....$ 0.00
Class 12- A5.....$ 0.00 Class 12- B4....$ 0.00
Class 12- A6.....$ 0.00 Class 12- B5....$ 0.00
Class 12- PO.....$ 0.00 Class 12- R.....$ 0.00
B. Other Amounts:
1. Senior Percentage for such Distribution Date: ............ 95.857723%
2. Senior Prepayment Percentage for such Distribution Date: . 100.000000%
3. Junior Percentage for such Distribution Date: ............ 4.142277%
4. Junior Prepayment Percentage for such Distribution Date: . 0.000000%
5. Class A6 Percentage:...................................... 9.683199%
6. Class A6 Prepayment Distribution Percentage: ............. 0.000000%
7. Subordinate Certificate Writedown Amount for such
Distribution Date: .......................................$ 0.00
8. Prepayment Distribution Triggers satisfied:
YES NO
--- --
Class 12-B1....... X
Class 12-B2....... X
Class 12-B3....... X
Class 12-B4....... X
Class 12-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 99.30
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
February 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-12
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 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
$1,000:
1) The amount of such distribution allocable to principal:
Class 12-A1.......$ 35.83713768 Class 12-M......$ 0.71254627
Class 12-A2.......$ 43.88600675 Class 12-B1.....$ 0.71254543
Class 12-A3.......$ 0.00000000 Class 12-B2.....$ 0.71254618
Class 12-A4.......$ 0.00000000 Class 12-B3.....$ 0.71254618
Class 12-A5.......$ 0.00000000 Class 12-B4.....$ 0.71254854
Class 12-A6.......$ 0.71254582 Class 12-B5.....$ 0.71254418
Class 12-PO.......$ 1.06829364 Class 12-R......$ 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 12-A1.......$ 34.95643269 Class 12-M......$ 0.00000000
Class 12-A2.......$ 42.80749915 Class 12-B1.....$ 0.00000000
Class 12-A3.......$ 0.00000000 Class 12-B2.....$ 0.00000000
Class 12-A4.......$ 0.00000000 Class 12-B3.....$ 0.00000000
Class 12-A5.......$ 0.00000000 Class 12-B4.....$ 0.00000000
Class 12-A6.......$ 0.69503486 Class 12-B5.....$ 0.00000000
Class 12-PO.......$ 1.04204011 Class 12-R......$ 0.00000000
<PAGE>
3) The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 12-A1.......$ 5.75525600 Class 12-B1.....$ 5.82914035
Class 12-A2.......$ 5.73772012 Class 12-B2.....$ 5.82914057
Class 12-A3.......$ 5.83333358 Class 12-B3.....$ 5.82913850
Class 12-A4.......$ 5.83333309 Class 12-B4.....$ 5.82914298
Class 12-A5.......$ 5.83333339 Class 12-B5.....$ 5.82916839
Class 12-A6.......$ 5.82913960 Class 12-R......$ 0.00000000
Class 12-M........$ 5.82913990 Class 12-S......$ 0.00000000
4) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:..... $ 131,652.60
(b) The amounts below are for the aggregate of all Certificates.
5) 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:........$ 620,544,954.55
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:.................. 2,040
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 (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 12-A1............$ 294,741,234.33 $ 950.78
Class 12-A2............$ 141,383,442.52 $ 939.72
Class 12-A3............$ 16,633,813.00 $ 1,000.00
Class 12-A4............$ 17,157,119.00 $ 1,000.00
Class 12-A5............$ 62,129,252.00 $ 1,000.00
Class 12-A6............$ 61,730,675.81 $ 998.57
Class 12-PO............$ 362,283.94 $ 997.90
Class 12-M.............$ 9,017,069.84 $ 998.57
Class 12-B1............$ 6,118,725.68 $ 998.57
Class 12-B2............$ 4,830,572.27 $ 998.57
Class 12-B3............$ 3,220,381.52 $ 998.57
Class 12-B4............$ 966,114.05 $ 998.57
Class 12-B5............$ 2,254,270.59 $ 998.57
Class 12-R.............$ 0.00 $ 0.00
Class 12-S.............$ 602,032,797.40 $ 961.03
<PAGE>
7) 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
8) 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 24 Principal Balance $ 6,653,439.93
(2) 60-89 days
Number 2 Principal Balance $ 470,261.81
(3) 90 days or more
Number 0 Principal Balance $ 0.00
(b) in foreclosure
Number 0 Principal Balance $ 0.00
9) 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
10) 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
11) The Certificate Interest Rates, applicable to the Interest Accrual
Period relating to such Distribution Date:
Class 12-S: ........................ 0.495123%
12) Senior Percentage for such Distribution Date: ........... 95.85772300%
13) Senior Prepayment Percentage for such Distribution Date: 100.00000000%
14) Class A6 Percentage...................................... 9.68319900%
15) Class A6 Prepayment Distribution Percentage for such .... 0.000000%
Distribution Date:
16) Junior Percentage for such Distribution Date: ........... 4.14227700%
17) Junior Prepayment Percentage for such Distribution Date: 0.00000000%
Capitalized terms used in this Statement shall have the same meanings as
in the Agreement.
Exhibit 99.31
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
February 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-13
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 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 ................................$ 609,478.24
(b) Interest .................................$ 1,204,063.31
(c) Total ....................................$ 1,813,541.55
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ................................$ 609,478.24
(b) Interest .................................$ 1,164,686.32
(c) Total ....................................$ 1,774,164.56
3. Aggregate Principal Prepayments in part received and applied in prior
month: .........................................$ 184,168.66
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ................................$ 5,214,911.75
(b) Interest .................................$ 29,398.50
(c) Total ....................................$ 5,244,310.25
<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: ..............$ 192,099,141.81
10. Available Funds: ..............................$ 7,202,643.47
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: .................$ 3,186.41
<PAGE>
14. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 13-A1........$ 788,020.83 $ 0.00 6.75000000%
Class 13-A2........$ 77,652.84 $ 0.00 6.75000000%
Class 13-A3........$ 218,870.40 $ 0.00 6.75000000%
Class 13-M.........$ 11,253.07 $ 0.00 6.75000000%
Class 13-B1....... $ 2,813.27 $ 0.00 6.75000000%
Class 13-B2........$ 5,626.53 $ 0.00 6.75000000%
Class 13-B3........$ 3,938.58 $ 0.00 6.75000000%
Class 13-B4........$ 2,250.61 $ 0.00 6.75000000%
Class 13-B5........$ 2,250.55 $ 0.00 6.75000000%
Class 13-S.........$ 81,408.14 $ 0.00 0.52522800%
Class 13-R.........$ 0.00 $ 0.00 6.75000000%
15. Principal distributable:
Class 13-A1.....$ 5,872,447.28
Class 13-A2.....$ 0.00
Class 13-A3.....$ 119,690.87
Class 13-PO.....$ 1,035.94
Class 13-M......$ 6,153.82
Class 13-B1.....$ 1,538.46
Class 13-B2.....$ 3,076.91
Class 13-B3.....$ 2,153.84
Class 13-B4.....$ 1,230.76
Class 13-B5.....$ 1,230.77
Class 13-R......$ 0.00
16. Additional distributions to the Class 13-R Certificate pursuant to
Section 4.01(b): ...............................$ 0.00
17. Certificate Interest Rates of:
Class 13-S Certificates:..... 0.493100%
18. Distributions Allocable to Unanticipated Recoveries:
Class 13-A1.....$ 0.00
Class 13-A2.....$ 0.00
Class 13-A3.....$ 0.00
Class 13-PO.....$ 0.00
Class 13-M......$ 0.00
Class 13-B1.....$ 0.00
Class 13-B2.....$ 0.00
Class 13-B3.....$ 0.00
Class 13-B4.....$ 0.00
Class 13-B5.....$ 0.00
Class 13-R......$ 0.00
B. Other Amounts:
1. Senior Percentage for such Distribution Date: ........... 97.471621%
2. Senior Prepayment Percentage for such Distribution Date: 100.000000%
3. Junior Percentage for such Distribution Date: ........... 2.528379%
4. Junior Prepayment Percentage for such Distribution Date: 0.000000%
5. Class A3 Percentage: .................................... 19.670618%
6. Class A3 Prepayment Distribution Percentage: ............ 0.000000%
7. Subordinate Certificate Writedown Amount for such
Distribution Date: ......................................$ 0.00
8. Prepayment Distribution Triggers satisfied:
YES NO
--- --
Class 13-B1....... X
Class 13-B2....... X
Class 13-B3....... X
Class 13-B4....... X
Class 13-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 99.32
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
February 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-13
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 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
$1,000:
i) The amount of such distribution allocable to principal:
Class 13-A1.....$ 41.20369127 Class 13-B3....$ 3.06653188
Class 13-A2.....$ 0.00000000 Class 13-B4....$ 3.06651983
Class 13-A3.....$ 3.06653118 Class 13-B5....$ 3.06653779
Class 13-PO.....$ 3.45698834 Class 13-R.....$ 0.00000000
Class 13-M......$ 3.06652980
Class 13-B1.....$ 3.06653671
Class 13-B2.....$ 3.06652980
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 13-A1.....$ 37.11923585 Class 13-B3....$ 0.00000000
Class 13-A2.....$ 0.00000000 Class 13-B4....$ 0.00000000
Class 13-A3.....$ 2.76255089 Class 13-B5....$ 0.00000000
Class 13-PO.....$ 3.11430266 Class 13-R.....$ 0.00000000
Class 13-M......$ 0.00000000
Class 13-B1.....$ 0.00000000
Class 13-B2.....$ 0.00000000
<PAGE>
iii) The amount of distribution allocable to interest; Pay-out Rate:
Class 13-A1.....$ 5.52910319 6.75000000%
Class 13-A2.....$ 5.62500014 6.75000000%
Class 13-A3.....$ 5.60755307 6.75000000%
Class 13-M......$ 5.60755343 6.75000000%
Class 13-B1.....$ 5.60755283 6.75000000%
Class 13-B2.....$ 5.60754845 6.75000000%
Class 13-B3.....$ 5.60755727 6.75000000%
Class 13-B4.....$ 5.60754347 6.75000000%
Class 13-B5.....$ 5.60738126 6.75000000%
Class 13-R......$ 0.00000000 6.75000000%
Class 13-S......$ 0.00000000 N/A
iv) The amount of distribution allocable to Unanticipated Recoveries:
Class 13-A1.....$ N/A N/A
Class 13-A2.....$ N/A N/A
Class 13-A3.....$ N/A N/A
Class 13-PO.....$ N/A N/A
Class 13-M......$ N/A N/A
Class 13-B1.....$ N/A N/A
Class 13-B2.....$ N/A N/A
Class 13-B3.....$ N/A N/A
Class 13-B4.....$ N/A N/A
Class 13-B5.....$ N/A N/A
Class 13-R......$ N/A N/A
v) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:.........$ 42,580.87
(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:......$192,099,141.81
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:..................... 608
<PAGE>
vii) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to (i) all distributions allocable to principal
made on such Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date:
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 13-A1...............$ 134,220,145.10 $ 941.75
Class 13-A2...............$ 13,804,949.00 $ 1,000.00
Class 13-A3...............$ 38,790,601.94 $ 993.83
Class 13-PO...............$ 297,464.37 $ 992.65
Class 13-M................$ 1,994,391.80 $ 993.83
Class 13-B1...............$ 498,598.44 $ 993.83
Class 13-B2...............$ 997,195.90 $ 993.83
Class 13-B3...............$ 698,037.63 $ 993.83
Class 13-B4...............$ 398,878.36 $ 993.83
Class 13-B5...............$ 398,879.27 $ 993.83
Class 13-R................$ 0.00 $ 0.00
Class 13-S................$ 180,029,163.88 $ 897.12
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 $ 1,979,519.60
(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
x) The Scheduled Principal Balance of any Mortgage Loan replaced pursuant
to Section 2.03(b):................................$ 0.00
xi) The Scheduled Principal Balance, of any Modified Mortgage Loan
purchased pursuant to Section 3.01(c): ............$ 0.00
xii) The Certificate Interest Rates, applicable to the Interest Accrual
Period relating to such Distribution Date:
Class 13-S: ........................ 0.493100%
1. Senior Percentage for such Distribution Date: ...... 97.47162100%
2. Senior Prepayment Percentage for such Distribution
Date: .............................................. 100.00000000%
3. Class A3 Percentage for such Distribution Date: .... 19.67061800%
4. Class A3 Prepayment Percentage for such Distribution
Date: .............................................. 0.00000000%
5. Junior Percentage for such Distribution Date: ...... 2.52837900%
6. Junior Prepayment Percentage for such Distribution
Date: .............................................. 0.00000000%
Exhibit 99.33
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
FEBRUARY 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: $ 1,728,103.00
(2) Aggregate Monthly Payments received and Monthly Advances made this
Month:
(a) Principal $ 273,782.20
(b) Interest $ 1,452,853.59
(c) Total $ 1,726,635.79
(3) Aggregate Principal Prepayments in part received on Self- Amortizing
Mortgage Loans and applied in the applicable Prepayment Period:
(a) Principal $ 48,537.33
(c) Total $ 48,537.33
(4) Aggregate Principal Prepayments in full received in the applicable
Prepayment period:
(a) Principal $ 863,270.83
(b) Interest $ 7,952.64
(c) Total $ 871,223.47
(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: $ 185,053,089.38
(11) Available Funds: $ 2,569,235.24
(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: $ 1,143.05
(15) Net Simple Interest Shortfall: $ 0.00
(16) Net Simple Interest Excess: $ 251.64
(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
(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%
<PAGE>
(20) Accrued Certificate Interest and Pay-out Rate:
Class A1 36157NFF6 $ 317,623.06 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 $ 324,100.20 2.10%
Class M 36157NFQ2 $ 27,624.73 7.135%
Class B1 36157NFR0 $ 25,544.19 7.330%
Class B2 36157NFS8 $ 11,888.74 7.675%
Class B3 36157NFT6 $ 13,898.47 8.972%
Class B4 36157NFU3 $ 10,420.12 8.972%
Class B5 36157NFV1 $ 10,423.56 8.972%
Total $ 1,383,644.88
(21) Principal distributable:
Class A1 36157NFF6 $ 1,162,905.09
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 $ 6,873.76
Class B1 36157NFR0 $ 6,186.97
Class B2 36157NFS8 $ 2,750.09
Class B3 36157NFT6 $ 2,750.09
Class B4 36157NFU3 $ 2,061.83
Class B5 36157NFV1 $ 2,062.51
Class R1 36157NFN9 $ 0.00
Class R2 36157NFP4 $ 0.00
Total $ 1,185,590.36
(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: 91.714120%
2) Senior Prepayment Percentage for such Distribution Date: 100.000000%
3) Junior Percentage for such Distribution Date: 8.285880%
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
FEBRUARY 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 $ 20.43769938
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 $ 1.47695708
Class B1 36157NFR0 $ 1.47695708
Class B2 36157NFS8 $ 1.47695708
Class B3 36157NFT6 $ 1.47695708
Class B4 36157NFU3 $ 1.47695708
Class B5 36157NFV1 $ 1.47695708
Class R1 36157NFN9 $ 0.00000000
Class R2 36157NFP4 $ 0.00000000
(2) Aggregate Principal prepayments included in distribution:
Class A1 36157NFF6 $ 911,808.16
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 $ 5.58212752 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 $ 1.75139035 2.10%
Class M 36157NFQ2 $ 5.93569719 7.135%
Class B1 36157NFR0 $ 6.09792017 7.330%
Class B2 36157NFS8 $ 6.38493005 7.675%
Class B3 36157NFT6 $ 7.46426941 8.972%
Class B4 36157NFU3 $ 7.46426941 8.972%
Class B5 36157NFV1 $ 7.46426941 8.972%
(4) Servicing Compensation: $ 80,249.34
The amounts below are for the aggregate of all Certificates:
<PAGE>
(5) Pool Principal Balance; $ 185,053,089.40
number of Mortgage Loans: 2,811
(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 $ 54,682,906.97 $ 961.03527196
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 $ 4,639,192.35 $ 996.81829568
Class B1 36157NFR0 $ 4,175,671.84 $ 996.81829568
Class B2 36157NFS8 $ 1,856,075.67 $ 996.81829568
Class B3 36157NFT6 $ 1,856,075.67 $ 996.81829568
Class B4 36157NFU3 $ 1,391,558.34 $ 996.81829568
Class B5 36157NFV1 $ 1,392,018.18 $ 996.81829568
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 $ 611,602.72
11
Two Payments Delinquent $ 166,277.21
3
Three or more Payments Delinquent $ 0.00
0
TOTAL $ 777,879.93
14
In foreclosure $ 0.00
0
<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: 91.714120%
(13) Senior Prepayment Percentage for such Distribution
Date: 100.000000%
(14) Junior Percentage for such Distribution Date: 8.285880%
(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
February 1998
REMIC Multi-Class Pass-Through Certificates
Series 1998-01
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 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 ...............................$ 620,209.55
(b) Interest ................................$ 1,219,273.93
(c) Total ...................................$ 1,839,483.48
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ...............................$ 620,209.55
(b) Interest ................................$ 1,171,683.43
(c) Total ...................................$ 1,791,892.98
3. Aggregate Principal Prepayments in part received and applied in prior
month: ........................................$ 81,685.49
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ...............................$ 3,551,863.00
(b) Interest ................................$ 20,129.05
(c) Total ...................................$ 3,571,992.05
<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: ............$ 195,937,691.74
10. Available Funds: .............................$ 5,378,953.10
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: ................$ 4,036.83
<PAGE>
14. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 01-A1.....$ 352,518.75 $ 0.00 6.75000000%
Class 01-A2.....$ 597,870.79 $ 0.00 6.75000000%
Class 01-A3.....$ 149,467.84 $ 0.00 6.75000000%
Class 01-PO.....$ 0.00 $ 0.00 0.00000000%
Class 01-M......$ 8,445.57 $ 0.00 6.74999900%
Class 01-B1.....$ 5,630.37 $ 0.00 6.74999800%
Class 01-B2.....$ 2,815.17 $ 0.00 6.74999600%
Class 01-B3.....$ 4,504.30 $ 0.00 6.74999500%
Class 01-B4.....$ 1,689.07 $ 0.00 6.74986800%
Class 01-B5.....$ 2,252.64 $ 0.00 6.74989100%
Class 01-R......$ 0.56 $ 0.00 6.72000000%
15. Principal distributable:
Class 01-A1.....$ 1,358,732.04
Class 01-A2.....$ 2,798,095.17
Class 01-A3.....$ 82,314.58
Class 01-PO.....$ 562.60
Class 01-M......$ 4,651.13
Class 01-B1.....$ 3,100.75
Class 01-B2.....$ 1,550.37
Class 01-B3.....$ 2,480.60
Class 01-B4.....$ 930.22
Class 01-B5.....$ 1,240.56
Class 01-R......$ 100.00
16. Additional distributions to the Class 01-R Certificate pursuant to
Section 4.01(b): ............................$ 0.00
17. Distributions Allocable to Unanticipated Recoveries:
Class 01-A1.....$ 0.00
Class 01-A2.....$ 0.00
Class 01-A3.....$ 0.00
Class 01-PO.....$ 0.00
Class 01-M......$ 0.00
Class 01-B1.....$ 0.00
Class 01-B2.....$ 0.00
Class 01-B3.....$ 0.00
Class 01-B4.....$ 0.00
Class 01-B5.....$ 0.00
Class 01-R......$ 0.00
B. Other Amounts:
1. Senior Percentage for such Distribution Date: .......... 97.748195%
2. Senior Prepayment Percentage for such Distribution Date: 100.000000%
3. Junior Percentage for such Distribution Date: ......... 2.251805%
4. Junior Prepayment Percentage for such Distribution Date: 0.000000%
5. Class A3 Percentage for such Distribution Date: ...... 13.283726%
6. Class A3 Prepayment Percentage for such Distribution Date: 0.000000%
7. Subordinate Certificate Writedown Amount for such
Distribution Date: ..................................... $ 0.00
8. Prepayment Distribution Triggers satisfied:
YES NO
--- --
Class 12-B1....... X
Class 12-B2....... X
Class 12-B3....... X
Class 12-B4....... X
Class 12-B5....... X
9. Base Servicing Fee:..................................... $ 29,089.30
10. Supplemental Servicing Fee:............................. $ 66,617.42
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 99.36
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
February 1998
REMIC Multi-Class Pass-Through Certificates
Series 1998-1
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 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
$1,000:
1) The amount of such distribution allocable to principal:
Class 01-A1.....$ 21.68074102 Class 01-B3.....$ 3.09778774
Class 01-A2.....$ 26.32556342 Class 01-B4.....$ 3.09779043
Class 01-A3.....$ 3.09778698 Class 01-B5.....$ 3.09771535
Class 01-PO.....$ 3.58894887 Class 01-R......$ 1,000.00000000
Class 01-M......$ 3.09778978
Class 01-B1.....$ 3.09779161
Class 01-B2.....$ 3.09779709
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 01-A1.....$ 18.58057977 Class 01-B3.....$ 0.00000000
Class 01-A2.....$ 22.56123214 Class 01-B4.....$ 0.00000000
Class 01-A3.....$ 2.65482983 Class 01-B5.....$ 0.00000000
Class 01-PO.....$ 3.07575976 Class 01-R......$ 857.00851994
Class 01-M......$ 0.00000000
Class 01-B1.....$ 0.00000000
Class 01-B2.....$ 0.00000000
3) The amount of such distribution to the Certificateholders of each
class, allocable to Interest; Pay-out Rate:
Class 01-A1.....$ 5.62500000 Class 01-B4.....$ 5.62488969
Class 01-A2.....$ 5.62500002 Class 01-B5.....$ 5.62490931
Class 01-A3.....$ 5.62500009 Class 01-R......$ 5.60000000
Class 01-M......$ 5.62499875
Class 01-B1.....$ 5.62499813
Class 01-B2.....$ 5.62499625
Class 01-B3.....$ 5.62499610
4) The amount of such distribution allocable to Unanticipated Recoveries:
Class 01-A1................$ 0.00
Class 01-A2................$ 0.00
Class 01-A3................$ 0.00
Class 01-PO................$ 0.00
Class 01-M.................$ 0.00
Class 01-B1................$ 0.00
Class 01-B2................$ 0.00
Class 01-B3................$ 0.00
Class 01-B4................$ 0.00
Class 01-B5................$ 0.00
Class 01-R.................$ 0.00
5) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:.......$ 29,089.30
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:....$ 195,937,691.74
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:................... 601
<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 01-A1...............$ 61,311,267.96 $ 978.32
Class 01-A2...............$ 103,490,044.83 $ 973.67
Class 01-A3...............$ 26,489,745.42 $ 996.90
Class 01-PO...............$ 156,196.39 $ 996.41
Class 01-M................$ 1,496,783.87 $ 996.90
Class 01-B1...............$ 997,854.25 $ 996.90
Class 01-B2...............$ 498,924.63 $ 996.90
Class 01-B3...............$ 798,284.40 $ 996.90
Class 01-B4...............$ 299,354.78 $ 996.90
Class 01-B5...............$ 399,235.23 $ 996.90
Class 01-R................$ 0.00 $ 0.00
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
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 6 Principal Balance $ 1,814,323.22
(2) 60-89 days
Number 0 Principal Balance $ 0.00
(3) 90 days or more
Number 0 Principal Balance $ 0.00
(b) in foreclosure
Number 0 Principal Balance $ 0.00
10) Aggregate Scheduled Principal and number of replaced Mortgage
Loans:.............................................$ 0.00
11) 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
12) Senior Percentage for such Distribution Date: ......... 97.74819500%
13) Senior Prepayment Percentage for such Distribution
Date: ................................................ 100.00000000%
14) Class A3 Percentagee for such Distribution Date: ....... 13.28372589%
15) Class A3 Prepayment Percentage for such Distribution
Date: ................................................. 0.00000000%
16) Junior Percentage for such Distribution Date: .......... 2.25180500%
17) Junior Prepayment Percentage for such Distribution
Date: ................................................. 0.00000000%
Exhibit 99.37
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
February 1998
REMIC Multi-Class Pass-Through Certificates
Series 1998-2
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 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 ................................$ 324,184.95
(b) Interest .................................$ 2,865,283.26
(c) Total ....................................$ 3,189,468.21
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ................................$ 324,184.95
(b) Interest .................................$ 2,768,078.68
(c) Total ....................................$ 3,092,263.63
3. Aggregate Principal Prepayments in part received and applied in prior
month: .........................................$ 86,291.66
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ................................$ 5,430,621.16
(b) Interest .................................$ 31,823.15
(c) Total ....................................$ 5,462,444.31
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: ..............$ 444,959,620.29
10. Available Funds: ......................$ 8,469,070.53
11. Realized Losses for prior month: ...............$ 0.00
12. Aggregate Realized Losses:
(a) Deficient Valuations: ......................$ 0.00
(b) Special Hazard Losses: .....................$ 0.00
(c) Fraud Losses: ..............................$ 0.00
(d) Excess Bankruptcy Losses: ..................$ 0.00
(e) Excess Special Hazard Losses: ..............$ 0.00
(f) Excess Fraud Losses: .......................$ 0.00
(g) Debt Service Reductions: ...................$ 0.00
13. Compensating Interest Payment:...................$ 2,620.70
<PAGE>
14. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 2-A1........$ 121,294.99 $ 0.00 6.99999995%
Class 2-A2........$ 21,583.33 $ 0.00 6.99999892%
Class 2-A3........$ 147,841.95 $ 0.00 6.99999980%
Class 2-A4........$ 143,272.50 $ 0.00 7.00000000%
Class 2-A5........$ 198,686.24 $ 0.00 6.99999985%
Class 2-A6........$ 375,095.69 $ 0.00 6.99999992%
Class 2-A7........$ 57,166.67 $ 0.00 7.00000041%
Class 2-A8........$ 6,041.66 $ 0.00 7.24999925%
Class 2-A9........$ 28,958.33 $ 0.00 6.94999920%
Class 2-A10.......$ 19,250.00 $ 0.00 7.00000000%
Class 2-A11.......$ 128,561.69 $ 0.00 7.00000027%
Class 2-A12.......$ 1,268,458.33 $ 0.00 6.99999998%
Class 2-M.........$ 46,019.15 $ 0.00 6.99999746%
Class 2-B1........$ 26,296.65 $ 0.00 6.99999556%
Class 2-B2........$ 13,148.31 $ 0.00 6.99998758%
Class 2-B3........$ 13,148.31 $ 0.00 6.99998758%
Class 2-B4........$ 3,943.31 $ 0.00 6.99995858%
Class 2-B5........$ 9,205.07 $ 0.00 6.99997418%
Class 2-R.........$ 0.58 $ 0.00 6.96000000%
15. Principal distributable:
Class 2-A1........$ 412,784.51 Class 2-A11......$ 15,847.31
Class 2-A2........$ 0.00 Class 2-A12......$ 3,604,307.37
Class 2-A3........$ 385,469.51 Class 2-PO.......$ 269.31
Class 2-A4........$ 0.00 Class 2-M........$ 5,672.55
Class 2-A5........$ 0.00 Class 2-B1.......$ 3,241.46
Class 2-A6........$ 1,310,268.87 Class 2-B2.......$ 1,620.73
Class 2-A7........$ 0.00 Class 2-B3.......$ 1,620.73
Class 2-A8........$ 16,379.10 Class 2-B4.......$ 486.07
Class 2-A9........$ 81,895.59 Class 2-B5.......$ 1,134.67
Class 2-A10.......$ 0.00 Class 2-R........$ 100.00
16. Additional distributions to the Class 2-R Certificate pursuant to
Section 4.01(b): ....................................$ 0.00
17. Distributions Allocable to Unanticipated Recoveries:
Class 2-A1........$ 0.00 Class 2-A11....$ 0.00
Class 2-A2........$ 0.00 Class 2-A12....$ 0.00
Class 2-A3........$ 0.00 Class 2-PO.....$ 0.00
Class 2-A4........$ 0.00 Class 2-M......$ 0.00
<PAGE>
Class 2-A5........$ 0.00 Class 2-B1.....$ 0.00
Class 2-A6........$ 0.00 Class 2-B2.....$ 0.00
Class 2-A7........$ 0.00 Class 2-B3.....$ 0.00
Class 2-A8........$ 0.00 Class 2-B4.....$ 0.00
Class 2-A9........$ 0.00 Class 2-B5.....$ 0.00
Class 2-A10.......$ 0.00 Class 2-R......$ 0.00
B. Other Amounts:
1. Senior Percentage for such Distribution Date: .............. 95.747300%
2. Senior Prepayment Percentage for such Distribution Date: ...100.000000%
3. Junior Percentage for such Distribution Date: .............. 4.252700%
4. Junior Prepayment Percentage for such Distribution Date: ... 0.000000%
5. Class A5 Percentage for such Distribution Date: ............ 10.450912%
6. Class A5 Principal Distribution Percentage for such
Distribution Date:.......................................... 0.000000%
7. Class A11 Percentage for such Distribution Date:............ 20.901823%
8. Class A11 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 2-B1........ X
Class 2-B2........ X
Class 2-B3........ X
Class 2-B4........ X
Class 2-B5........ X
11. Base Servicing Fee:.................................$ 32,632.83
12. Supplemental Servicing Fee:.........................$ 171,929.07
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 99.38
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
February 1998
REMIC Multi-Class Pass-Through Certificates
Series 1998-2
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 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 $1,000:
1) The amount of such distribution allocable to principal:
Class 2-A1....$ 19.85168246 Class 2-A11....$ 0.71905282
Class 2-A2....$ 0.00000000 Class 2-A12....$ 16.57533856
Class 2-A3....$ 15.20929667 Class 2-PO.....$ 1.22930369
Class 2-A4....$ 0.00000000 Class 2-M......$ 0.71904551
Class 2-A5....$ 0.00000000 Class 2-B1.....$ 0.71904614
Class 2-A6....$ 20.37676037 Class 2-B2.....$ 0.71904614
Class 2-A7....$ 0.00000000 Class 2-B3.....$ 0.71904614
Class 2-A8....$ 16.37911638 Class 2-B4.....$ 0.71903846
Class 2-A9....$ 16.37911800 Class 2-B5.....$ 0.71904765
Class 2-A10...$ 0.00000000 Class 2-R......$ 1,000.00000000
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 2-A1....$ 18.79422649 Class 2-A8.....$ 15.50663646
Class 2-A2....$ 0.00000000 Class 2-A9.....$ 15.50663799
Class 2-A3....$ 14.39913050 Class 2-10.....$ 0.00000000
Class 2-A4....$ 0.00000000 Class 2-11.....$ 0.68075044
Class 2-A5....$ 0.00000000 Class 2-12.....$ 15.69240631
Class 2-A6....$ 19.29133464 Class 2-PO.....$ 1.16382135
Class 2-A7....$ 0.00000000 Class 2-M......$ 0.00000000
<PAGE>
Class 2-B1....$ 0.00000000 Class 2-B4.....$ 0.00000000
Class 2-B2....$ 0.00000000 Class 2-B5.....$ 0.00000000
Class 2-B3....$ 0.00000000 Class 2-R......$ 946.73217400
3) The amount of such distribution to the Certificateholders of each
class, allocable to Interest; Pay-out Rate:
Class 2-A1....$ 5.83333329 Class 2-M......$ 5.83333122
Class 2-A2....$ 5.83333243 Class 2-B1.....$ 5.83332964
Class 2-A3....$ 5.83333317 Class 2-B2.....$ 5.83332298
Class 2-A4....$ 5.83333333 Class 2-B3.....$ 5.83332298
Class 2-A5....$ 5.83333321 Class 2-B4.....$ 5.83329882
Class 2-A6....$ 5.83333327 Class 2-B5.....$ 5.83331182
Class 2-A7....$ 5.83333367 Class 2-R......$ 5.80000000
Class 2-A8....$ 6.04166604
Class 2-A9....$ 5.79166600
Class 2-A10...$ 5.83333333
Class 2-A11...$ 5.83333356
Class 2-A12...$ 5.83333332
4) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:....$ 32,632.83
(b) The amounts below are for the aggregate of all Certificates.
5) 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:......$ 444,959,620.29
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:............ 1,474
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 (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 2-A1........ $ 20,380,642.49 $ 980.15
Class 2-A2........ $ 3,700,000.00 $ 1,000.00
Class 2-A3........ $ 24,958,865.49 $ 984.79
Class 2-A4........ $ 24,561,000.00 $ 1,000.00
Class 2-A5........ $ 34,060,499.00 $ 1,000.00
<PAGE>
Class 2-A6........ $ 62,991,850.13 $ 979.62
Class 2-A7........ $ 9,800,000.00 $ 1,000.00
Class 2-A8........ $ 983,619.90 $ 983.62
Class 2-A9........ $ 4,918,104.41 $ 983.62
Class 2-A10....... $ 3,300,000.00 $ 1,000.00
Class 2-A11....... $ 22,023,298.69 $ 999.28
Class 2-A12....... $ 213,845,692.63 $ 983.42
Class 2-PO....... $ 290,805.93 $ 1,327.42
Class 2-M......... $ 7,883,327.45 $ 999.28
Class 2-B1........ $ 4,504,758.54 $ 999.28
Class 2-B2........ $ 2,252,379.27 $ 999.28
Class 2-B3........ $ 2,252,379.27 $ 999.28
Class 2-B4........ $ 675,513.93 $ 999.28
Class 2-B5........ $ 1,576,883.15 $ 999.28
Class 2-R......... $ 0.00 $ 0.00
7) 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
8) 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 15 Principal Balance $ 4,142,861.65
(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
9) Aggregate Scheduled Principal Balance and number of replaced loans:
$ 0.00
0
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 Senior Percentage for such Distribution Date: ......... 95.747300%
12) The Senior Prepayment Percentage for such Distribution
Date: .....................................................100.000000%
13) Class A5 Percentage for such Distribution Date:............ 10.450912%
14) Class A5 Principal Distribution Percentage for such
Distribution Date:......................................... 0.000000%
15) Class A11 Percentage for such Distribution Date:........... 20.901823%
16) Class A11 Prepayment Distribution Percentage
for such Distribution Date:................................ 0.000000%
17) The Junior Percentage for such Distribution Date; .......... 4.252700%
18) The Junior Prepayment Percentage for such Distribution Date: 0.000000%
Capitalized terms used in this Statement shall have the same meanings as in
the Agreement.
Exhibit 99.39
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
February 1998
REMIC Multi-Class Pass-Through Certificates
Series 1998-3
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 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 ......................................$ 227,654.81
(b) Interest .......................................$ 1,974,780.73
(c) Total ..........................................$ 2,202,435.54
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ......................................$ 227,654.81
(b) Interest .......................................$ 1,907,528.83
(c) Total ..........................................$ 2,135,183.64
3. Aggregate Principal Prepayments in part received and applied in the
applicable Prepayment Period:.........................$ 39,991.73
4. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal ......................................$ 4,108,874.80
(b) Interest .......................................$ 23,513.07
(c) Total ..........................................$ 4,132,387.87
<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 subsitution adjustments) for Defective
Mortgage Loans:
(a) Principal ......................................$ 0.00
(b) Interest .......................................$ 0.00
(c) Total ..........................................$ 0.00
9. Pool Scheduled Principal Balance......................$ 309,553,833.69
10. Available Funds: .....................................$ 6,207,080.37
11. Realized Losses for Prior Month: .....................$ 0.00
12. Aggregrate 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
<PAGE>
13. Compensating Interest Payment: .......................$ 2,537.80
14. Accrued Certificate Interest, unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 3-A1.......$ 361,666.67 $ 0.00 7.00000006%
Class 3-A2.......$ 64,947.92 $ 0.00 6.25000032%
Class 3-A3.......$ 110,822.92 $ 0.00 6.25000019%
Class 3-A4.......$ 81,968.75 $ 0.00 6.25000000%
Class 3-A5.......$ 81,614.58 $ 0.00 6.24999974%
Class 3-A6.......$ 40,722.50 $ 0.00 7.00000000%
Class 3-A7.......$ 201,290.83 $ 0.00 6.99999988%
Class 3-A8.......$ 700,000.00 $ 0.00 7.00000000%
Class 3-A9.......$ 46,111.33 $ 0.00 6.99999949%
Class 3-A10......$ 63,583.33 $ 0.00 6.99999963%
Class 3-M........$ 32,042.50 $ 0.00 7.00000000%
Class 3-B1.......$ 18,310.83 $ 0.00 6.99999873%
Class 3-B2.......$ 9,158.33 $ 0.00 6.99999745%
Class 3-B3.......$ 9,158.33 $ 0.00 6.99999745%
Class 3-B4.......$ 2,747.50 $ 0.00 7.00000000%
Class 3-B5.......$ 6,411.55 $ 0.00 7.00004399%
Class 3-R........$ 0.58 $ 0.00 6.96000000%
Class 3-RL.......$ 0.58 $ 0.00 6.96000000%
15. Accrued Amount for Class A9 Certificates: $ 46,111.33
16. Principal Distribution Amount:
Class 3-A1.............$ 0.00
Class 3-A2.............$ 0.00
Class 3-A3.............$ 0.00
Class 3-A4.............$ 0.00
Class 3-A5.............$ 0.00
Class 3-A6.............$ 0.00
Class 3-A7.............$ 73,686.17
Class 3-A8.............$ 256,247.72
Class 3-A9.............$ 4,036,585.78
Class 3-A10............$ 0.00
Class 3-PO.............$ 126.93
Class 3-M..............$ 3,983.13
Class 3-B1.............$ 2,276.18
Class 3-B2.............$ 1,138.45
Class 3-B3.............$ 1,138.45
Class 3-B4.............$ 341.54
Class 3-B5.............$ 796.99
Class 3-R..............$ 100.00
Class 3-RL.............$ 100.00
<PAGE>
17. Additional distributions to the Class R Certificate pursuant to
Sections 2.05 (c) and 4.01 (b): $ 0.00
18. Additional distributions to the Class RL Certificate pursuant to
Sections 2.05 (d): $ 0.00
B. Other Amounts for such Distribution Date:
1. Senior Percentage for such Distribution Date:........... 95.74834700%
2. Senior Prepayment Percentage for such Distribution Date: 100.00000000%
3. Junior Percentage for such Distribution Date:........... 4.25165300%
4. Junior Prepayment Percentage for such Distribution Date: 0.00000000%
5. Subordinate Certificate Writedown Amount for
such Distribution Date:.................................$ 0.00
6. Prepayment Triggers satisfied:
YES NO
--- --
Class 3-B1.............. X
Class 3-B2.............. X
Class 3-B3.............. X
Class 3-B4.............. X
Class 3-B5.............. X
7. Base Servicing Fee:....................................$ 22,243.34
8. Supplemental Servicing Fee:...........................$ 100,482.87
YES NO
--- --
9. The Occurance of a Jump Trigger
Date:........................... X
Capitalized term 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 99.40
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
REMIC Multi-Class Pass-Through Certificates
JANUARY 1998
Series 1998-3
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 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 $1,000.
1) The amount of such distribution allocable to principal:
Class 3-A1........$ 0.00000000
Class 3-A2........$ 0.00000000
Class 3-A3........$ 0.00000000
Class 3-A4........$ 0.00000000
Class 3-A5........$ 0.00000000
Class 3-A6........$ 0.00000000
Class 3-A7........$ 2.13539768
Class 3-A8........$ 2.13539768
Class 3-A9........$ 510.64995751
Class 3-A10.......$ 0.00000000
Class 3-PO........$ 1.05564680
Class 3-M.........$ 0.72512835
Class 3-B1........$ 0.72512902
Class 3-B2........$ 0.72512739
Class 3-B3........$ 0.72512739
Class 3-B4........$ 0.72513800
Class 3-B5........$ 0.72511913
Class 3-R.........$ 1000.00000000
Class 3-RL........$ 1000.00000000
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 3-A1.....$ 0.00000000
Class 3-A2.....$ 0.00000000
Class 3-A3.....$ 0.00000000
Class 3-A4.....$ 0.00000000
Class 3-A5.....$ 0.00000000
Class 3-A6.....$ 0.00000000
Class 3-A7.....$ 2.02880494
Class 3-A8.....$ 2.02880494
Class 3-A9.....$ 485.15982111
Class 3-A10....$ 0.00000000
Class 3-PO.....$ 1.00295203
Class 3-M......$ 0.00000000
Class 3-B1.....$ 0.00000000
Class 3-B2.....$ 0.00000000
Class 3-B3.....$ 0.00000000
Class 3-B4.....$ 0.00000000
Class 3-B5.....$ 0.00000000
Class 3-R......$ 950.08295599
Class 3-RL.....$ 950.08295599
3) The amount of such distribution to the Certificateholders of each
class, allocable to Interest; Pay-out Rate:
Class 3-A1.......$ 5.83333339 7.00000000%
Class 3-A2.......$ 5.20833360 6.25000000%
Class 3-A3.......$ 5.20833349 6.25000000%
Class 3-A4.......$ 5.20833333 6.25000000%
Class 3-A5.......$ 5.20833312 6.25000000%
Class 3-A6.......$ 0.00000000 7.00000000%
Class 3-A7.......$ 5.83333324 7.00000000%
Class 3-A8.......$ 5.83333333 7.00000000%
Class 3-A9.......$ 5.83333291 7.00000000%
Class 3-A10......$ 5.83333303 7.00000000%
Class 3-M........$ 5.83333333 7.00000000%
Class 3-B1.......$ 5.83333227 7.00000000%
Class 3-B2.......$ 5.83333121 7.00000000%
Class 3-B3.......$ 5.83333121 7.00000000%
Class 3-B4.......$ 5.83333333 7.00000000%
Class 3-B5.......$ 5.83336999 7.00000000%
Class 3-R........$ 5.80000000 7.00000000%
Class 3-RL.......$ 5.80000000 7.00000000%
<PAGE>
4) Accrual amounts for Class A9 Certificate:...........$ 46,111.33
5) Servicing Compensation:..........................$ 22,243.34
(b) The amounts below are for the aggregate of all certificates.
6) The Pool Scheduled Principal Balances: ............$ 309,553,833.69
Number of Mortgage Loans: 1,027
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 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 3-A1....... $ 62,000,000.00 $ 1,000.00
Class 3-A2....... $ 12,470,000.00 $ 1,000.00
Class 3-A3....... $ 21,278,000.00 $ 1,000.00
Class 3-A4....... $ 15,738,000.00 $ 1,000.00
Class 3-A5....... $ 15,670,000.00 $ 1,000.00
Class 3-A6....... $ 6,981,000.00 $ 0.00
Class 3-A7....... $ 34,433,313.83 $ 997.86
Class 3-A8....... $ 119,743,752.28 $ 997.86
Class 3-A9....... $ 3,868,214.22 $ 489.35
Class 3-A10...... $ 10,900,000.00 $ 1,000.00
Class 3-PO....... $ 120,112.15 $ 998.94
Class 3-M........ $ 5,489,016.87 $ 999.27
Class 3-B1....... $ 3,136,723.82 $ 999.27
Class 3-B2....... $ 1,568,861.55 $ 999.27
Class 3-B3....... $ 1,568,861.55 $ 999.27
Class 3-B4....... $ 470,658.46 $ 999.27
Class 3-B5....... $ 1,098,318.96 $ 999.27
Class 3-R........ $ 0.00 $ 0.00
Class 3-RL....... $ 0.00 $ 0.00
8) The following pertains to any real estate acquired on behalf of
Certificateholders:
Book Value....................................$ 0.00
Unpaid Principal Balance......................$ 0.00
The aggregate number of Mortgage Loans included in the Principal
Balance set forth above:...................... 0
<PAGE>
9) Aggregate number and aggregate Principal Balances of delinquent
Mortgage Loans, as of the opening of business on the related
Determination Date:
Loans Principal Balance
----- -----------------
*(1) *30-59 days 1 $ 230,000.00
(2) 60-89 days 0 $ 0.00
(3) 90 days or more 0 $ 0.00
(4) in foreclosure 0 $ 0.00
10) The Aggregate Scheduled Principal Balance and number of replaced
Mortgage Loans:.................. $ 0.00
0
11) The Aggregate Scheduled Principal Balance and number of modified
Mortgage Loans:.................. $ 0.00
0
12) Senior Percentage for such Distribution Date:........... 95.748347%
13) Senior Prepayment Percentage for such Distribution Date: 100.000000%
14) Junior Percentage for such Distribution Date:........... 4.251653%
15) Junior Prepayment Percentage for such Distribution Date: 0.000000%
YES NO
--- --
16) The occurance of a Jump Trigger Date:...... X
* 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.
