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)
September 24, 1998
GE CAPITAL MORTGAGE SERVICES, INC.
(as Seller and Servicer under the Pooling and
Servicing Agreement, dated as of September 1, 1998,
providing for the issuance of REMIC Multi-Class
Pass-Through Certificates, Series 1998-15)
GE Capital 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 File Number) Identification No.)
of incorporation)
Three Executive Campus
Cherry Hill, New Jersey 08002
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code
(609) 661-6100
--------------
<PAGE>
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
General.
On September 24, 1998, GE Capital Mortgage Services, Inc.
("GECMSI") offered to investors certain classes of its REMIC
Multi-Class Pass-Through Certificates, Series 1998-15 (the
"Certificates") evidencing beneficial ownership interests in a
trust fund (the "Trust Fund"). The assets of the Trust Fund
consist primarily of a pool ("Pool 1998-15") of conventional,
one- to four-family residential loans (the "Mortgage Loans").
Capitalized terms used herein and not otherwise defined shall
have the meanings assigned to them in the Prospectus dated May
26, 1998 as supplemented by the Prospectus Supplement dated
September 24, 1998.
The original principal balance of each Class of the Certificates
is as follows:
Class A-1 $261,327,000.00
Class A-2 $89,086,000.00
Class A-3 $30,235,235.00
Class A-4 $7,838,765.00
Class A-5 $1,500,000.00
Class A-6 $1,500,000.00
Class A-7 $2,000,000.00
Class A-8 $8,571,429.00
Class A-9 $5,000,000.00
Class A-10 $1,428,571.00
Class A-11 $47,500,000.00
Class R $100.00
Class M $8,804,571.00
Class B-1 $3,807,382.00
Class B-2 $2,141,652.00
Class B-3 $1,903,691.00
Class B-4 $951,845.00
Class B-5 $1,428,686.53
Class PO $897,870.75
---------------
Total : $475,922,798.28
The initial Junior Percentage and initial Senior Percentage for
Pool 1998-15 are approximately 4.00% and 96.00%, respectively.
The "Bankruptcy Loss Amount," the "Fraud Loss Amount" and the
"Special Hazard Loss Amount" for Pool 1998-15 as of the initial
issuance of the Certificates are $164,817.00, $4,759,237.00 and
$4,759,237.00, respectively, representing approximately 0.035%,
1.000%, and 1.000%, respectively, of the aggregate Scheduled
Principal Balances of the Mortgage Loans as of September 1, 1998
(the "Cut-off Date").
2
<PAGE>
Description of the Mortgage Pool and the Mortgaged Properties
Pool 1998-15
Pool 1998-15 consists primarily of fixed-rate, fully-amortizing
conventional Mortgage Loans evidenced by Mortgage Notes which
have original maturities of 20 to 30 years and an aggregate
outstanding Scheduled Principal Balance as of the Cut-off Date,
after deducting payments of principal due on or before such date
and prepayments of principal received before such date, of
$475,922,798.28.
The interest rates (the "Mortgage Rates") borne by the 1,382
Mortgage Loans conveyed by GECMSI to Pool 1998-15 range from
6.5000% to 8.6250% and the weighted average Mortgage Rate as of
the Cut-off Date is 7.3319% per annum (all weighted averages in
this filing are weighted by aggregate outstanding Scheduled
Principal Balance as of the Cut-off Date). At origination, the
principal balances of the Mortgage Loans in Pool 1998-15 ranged
from $227,500.00 to $1,435,000.00, and, as of the Cut-off Date,
the average outstanding Scheduled Principal Balance of the
Mortgage Loans in Pool 1998-15 is $344,372.50, after application
of principal payments due on or before the Cut-off Date and
prepayments of principal received before such date. The earliest
origination date of any Mortgage Loan in Pool 1998-15 is August
1996, and the latest scheduled maturity date of any such Mortgage
Loan is September 2028. The weighted average loan-to-value ratio
of the Mortgage Loans as of the Cut-off Date in Pool 1998-15 is
74.6269%.
3
<PAGE>
The Mortgage Loans in Pool 1998-15 have the following
characteristics as of the Cut-off Date.
a) The following table sets forth information, as of the Cut-off
Date, with respect to the Mortgage Rates borne by the Mortgage
Loans in Pool 1998-15:
AGGREGATE % OF
BALANCES POOL BY
MORTGAGE # OF AS OF AGGREGATE
RATES LOANS CUT-OFF DATE BALANCE
- -------- ----- ------------ ---------
6.5000% 1 $412,000.00 0.0866%
6.6250% 7 $2,422,112.65 0.5089%
6.6500% 1 $335,110.06 0.0704%
6.7500% 31 $10,888,291.84 2.2878%
6.8750% 66 $23,309,590.10 4.8978%
7.0000% 103 $33,154,575.10 6.9664%
7.1000% 3 $1,005,349.02 0.2112%
7.1250% 158 $55,240,318.45 11.6070%
7.2000% 1 $267,362.71 0.0562%
7.2500% 283 $99,617,907.61 20.9315%
7.3000% 3 $988,135.44 0.2076%
7.3500% 3 $1,228,301.75 0.2581%
7.3750% 228 $75,621,096.24 15.8894%
7.4000% 4 $1,118,338.20 0.2350%
7.4500% 4 $1,491,688.25 0.3134%
7.5000% 269 $92,809,135.64 19.5009%
7.5500% 6 $1,991,472.72 0.4184%
7.6000% 1 $406,106.17 0.0853%
7.6250% 105 $35,022,768.56 7.3589%
7.6500% 1 $295,057.06 0.0620%
7.7000% 1 $439,052.85 0.0923%
7.7500% 56 $19,990,925.27 4.2005%
7.8750% 30 $11,484,966.16 2.4132%
8.0000% 9 $3,326,378.32 0.6989%
8.1250% 1 $254,516.33 0.0535%
8.2500% 3 $1,400,172.52 0.2942%
8.3750% 1 $540,000.00 0.1135%
8.5000% 1 $256,188.11 0.0538%
8.6250% 2 $605,881.15 0.1273%
----- --------------- ---------
Total 1,382 $475,922,798.28 100.0000%
4
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b) The following table sets forth information, as of the Cut-off
Date, with respect to the original principal balances of the
Mortgage Loans in Pool 1998-15:
AGGREGATE % OF
BALANCES POOL BY
ORIGINAL # OF AS OF AGGREGATE
BALANCES LOANS CUT-OFF DATE BAL.
-------- ----- ------------ ---------
$227,151 - 250,000 165 $39,933,972.32 8.3909%
$250,001 - 300,000 467 $127,964,947.19 26.8877%
$300,001 - 350,000 283 $92,377,465.67 19.4102%
$350,001 - 400,000 185 $69,634,172.67 14.6314%
$400,001 - 450,000 109 $46,113,629.35 9.6893%
$450,001 - 600,000 132 $67,535,341.63 14.1904%
$600,001 - 650,000 18 $11,554,864.49 2.4279%
$650,001 - 1,000,000 + 23 $20,808,404.96 4.3722%
----- --------------- ---------
Total 1,382 $475,922,798.28 100.0000%
The largest outstanding Scheduled Principal Balance of any
Mortgage Loan, as of the Cut-off Date, in Pool 1998-15 is
$1,434,012.44.
The smallest outstanding Scheduled Principal Balance of any
Mortgage Loan, as of the Cut-off Date, in Pool 1998-15 is
$227,326.89.
c) The following table sets forth information, as of the Cut-off
Date, with respect to the years of origination of the Mortgage
Loans in Pool 1998-15:
AGGREGATE % OF
BALANCES POOL BY
YEAR OF # OF AS OF AGGREGATE
ORIGINATION LOANS CUT-OFF DATE BALANCE
- ----------- ----- ------------ ---------
1996 1 $513,750.00 0.1079%
1997 7 $2,505,763.33 0.5265%
1998 1,374 $472,903,284.95 99.3656%
----- --------------- ---------
Total 1,382 $475,922,798.28 100.0000%
5
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d) The following table sets forth information, as of the Cut-off
Date, with respect to the loan-to-value ratios of the Mortgage
Loans at origination in Pool 1998-15:
LOAN- AGGREGATE % OF
TO-VALUE BALANCES POOL BY
RATIO AT # OF AS OF AGGREGATE
ORIGINATION LOANS CUT-OFF DATE BALANCE
----------- ----- ------------ ---------
00.000 - 50.00 46 $18,597,983.19 3.9078%
50.001 - 60.00 97 $36,070,744.81 7.5791%
60.001 - 70.00 193 $76,804,864.63 16.1382%
70.001 - 75.00 197 $69,753,719.46 14.6565%
75.001 - 80.00 643 $214,710,451.18 45.1145%
80.001 - 85.00 15 $4,098,137.49 0.8611%
85.001 - 90.00 125 $37,959,839.11 7.9760%
90.001 - 95.00 66 $17,927,058.41 3.7668%
----- --------------- ---------
Total 1,382 $475,922,798.28 100.0000%
e) The following table sets forth information, as of the Cut-off
Date, with respect to the type of Mortgaged Properties
securing the Mortgage Loans in Pool 1998-15:
AGGREGATE % OF
BALANCES POOL BY
TYPE OF # OF AS OF AGGREGATE
DWELLING LOANS CUT-OFF DATE BALANCE
- -------- ----- ------------ ---------
Single-family
detatched 1,261 $434,881,571.92 91.3765%
Single-family
attched 59 $20,610,161.28 4.3306%
Condominium 51 $16,335,855.52 3.4325%
2 - 4 Family
Units 10 $3,700,495.45 0.7775%
Co-op 1 $394,714.11 0.0829%
----- --------------- ---------
Total 1,382 $475,922,798.28 100.0000%
f) The following table sets forth information, as of the Cut-off
Date, with respect to the occupancy status of the Mortgaged
Properties securing the Mortgage Loans as represented by the
mortgagors at origination in Pool 1998-15:
AGGREGATE % OF
BALANCES POOL BY
# OF AS OF AGGREGATE
OCCUPANCY LOANS CUT-OFF DATE BALANCE
- --------- ----- ------------ ---------
Owner Occupied 1,355 $467,618,073.84 98.2550%
Vacation 22 $6,870,237.45 1.4436%
Investment 5 $1,434,486.99 0.3014%
----- --------------- ---------
Total 1,382 $475,922,798.28 100.0000%
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g) The following table sets forth information, as of the Cut-off
Date, with respect to the geographic distribution of the
Mortgaged Properties securing the Mortgage Loans in Pool
1998-15:
AGGREGATE % OF
BALANCES POOL BY
# OF AS OF AGGREGATE
STATE LOANS CUT-OFF DATE BALANCE
- ----- ----- ------------ ---------
Alabama 10 $3,484,870.08 0.7322%
Alaska 1 $410,687.27 0.0863%
Arizona 14 $4,521,668.81 0.9501%
Arkansas 1 $232,000.00 0.0487%
California 645 $222,353,275.58 46.7206%
Colorado 33 $10,748,180.50 2.2584%
Connecticut 25 $9,953,837.07 2.0915%
District Of Columbia 10 $4,369,013.47 0.9180%
Florida 11 $3,413,628.01 0.7173%
Georgia 53 $18,394,732.46 3.8651%
Hawaii 2 $935,705.70 0.1966%
Idaho 1 $255,805.20 0.0537%
Illinois 53 $18,292,790.50 3.8436%
Indiana 10 $3,474,420.46 0.7300%
Iowa 2 $544,158.30 0.1143%
Kentucky 2 $539,213.55 0.1133%
Louisiana 1 $324,503.90 0.0682%
Maryland 58 $19,816,905.43 4.1639%
Massachusetts 87 $29,126,753.14 6.1201%
Michigan 16 $5,576,179.66 1.1717%
Minnesota 8 $2,726,596.69 0.5729%
Missouri 7 $2,273,948.36 0.4778%
Nebraska 3 $963,452.95 0.2024%
Nevada 8 $2,586,701.49 0.5435%
New Hampshire 1 $244,800.00 0.0514%
New Jersey 82 $28,449,595.43 5.9778%
New Mexico 4 $1,247,216.79 0.2621%
New York 37 $13,811,020.84 2.9019%
North Carolina 12 $3,426,588.52 0.7200%
Ohio 33 $10,638,975.86 2.2354%
Oklahoma 2 $609,339.29 0.1280%
Oregon 4 $1,473,030.92 0.3095%
Pennsylvania 33 $11,518,077.72 2.4202%
Rhode Island 3 $832,689.89 0.1750%
South Carolina 3 $1,130,072.11 0.2374%
Tennessee 3 $832,354.93 0.1749%
Texas 21 $8,085,990.82 1.6990%
Utah 2 $850,000.00 0.1786%
Vermont 2 $1,028,318.99 0.2161%
Virginia 62 $20,402,119.46 4.2869%
Washington 12 $4,339,543.57 0.9118%
7
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Wisconsin 5 $1,684,034.56 0.3538%
----- --------------- ---------
Total 1,382 $475,922,798.28 100.0000%
8
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h) The following table sets forth information, as of the Cut-off
Date, with respect to the maturity dates of the Mortgage Loans
in Pool 1998-15:
AGGREGATE % OF
BALANCES POOL BY
YEAR OF # OF AS OF AGGREGATE
MATURITY LOANS CUT-OFF DATE BALANCE
- -------- ----- ------------ ---------
2018 8 $2,259,218.41 0.4747%
2023 8 $2,256,431.81 0.4741%
2025 1 $254,516.33 0.0535%
2027 3 $881,082.39 0.1851%
2028 1,362 $470,271,549.34 98.8126%
----- --------------- ---------
Total 1,382 $475,922,798.28 100.0000%
The weighted average scheduled remaining term to maturity of the
Mortgage Loans in Pool 1998-15 calculated as of the Cut-off Date
is 358 months.
i) The following table sets forth information, as of the Cut-off
Date, with respect to the purpose of the Mortgage Loans in
Pool 1998-15:
AGGREGATE % OF
BALANCES POOL BY
PURPOSE # OF AS OF AGGREGATE
OF LOAN LOANS CUT-OFF DATE BALANCE
- ------- ----- ------------ ---------
Purchase 710 $241,629,732.26 50.7708%
Rate Term/Refinance 499 $174,563,871.24 36.6790%
Cash-out Refinance 173 $59,729,194.78 12.5502%
----- --------------- ---------
Total 1,382 $475,922,798.28 100.0000%
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ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
AND EXHIBITS.
1.1 The Underwriting Agreement, dated as of October 23, 1995,
and the related Terms Agreement, dated as of September
23, 1998, for certain of the Series 1998-15 Certificates
between GE Capital Mortgage Services, Inc. and Salomon
Smith Barney Inc.
1.2 The Underwriting Agreement, dated as of March 21, 1996,
and the related Terms Agreement, dated as of September
23, 1998, for certain of the Series 1998-15 Certificates
between GE Capital Mortgage Services, Inc. and
Donaldson, Lufkin & Jenrette Securities Corporation.
4.1 The Pooling and Servicing Agreement for the Series
1998-15 Certificates, dated as of September 1, 1998,
between GE Capital Mortgage Services, Inc., as seller
and servicer, and State Street Bank and Trust Company,
as trustee.
10
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the
undersigned thereunto duly authorized.
GE Capital Mortgage Services, Inc.
By: /s/ Syed W. Ali
-----------------------------
Name: Syed W. Ali
Title: Vice President
Dated as of September 24, 1998
11
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the
undersigned thereunto duly authorized.
GE Capital Mortgage Services, Inc.
By:
-----------------------------
Name: Syed W. Ali
Title: Vice President
Dated as of September 24, 1998
12
<PAGE>
EXHIBIT INDEX
The exhibits are being filed herewith:
- -----------------------------------------------------------------
EXHIBIT NO. DESCRIPTION PAGE
- -----------------------------------------------------------------
1.1 The Underwriting Agreement, dated as
of October 23, 1995, and the related Terms
Agreement, dated as of September 23,
1998, for certain of the Series 1998-15
Certificates between GE Capital
Mortgage Services, Inc. and Salomon
Smith Barney Inc.
1.2 The Underwriting Agreement, dated as
of March 21, 1996, and the related Terms
Agreement, dated as of September 23,
1998, for certain of the Series 1998-15
Certificates between GE Capital
Mortgage Services, Inc. and Donaldson,
Lufkin & Jenrette Securities Corporation.
4.1 The Pooling and Servicing Agreement
for the Series 1998-15 Certificates, dated
as of September 1, 1998, between GE
Capital Mortgage Services, Inc., as seller
and servicer, and State Street Bank and
Trust Company, as trustee.
- -----------------------------------------------------------------
13
EXECUTION
GE CAPITAL MORTGAGE SERVICES, INC.
PASS-THROUGH CERTIFICATES
(Issuable in Series)
UNDERWRITING AGREEMENT
Salomon Brothers Inc New York, New York
Seven World Trade Center October 23, 1995
New York, New York 10048
Ladies and Gentlemen:
GE Capital Mortgage Services, Inc., a corporation
organized and existing under the laws of the State of New Jersey
(the "Company"), may offer for sale to you (the "Underwriter")
from time to time its Pass-Through Certificates evidencing
interests in pools of mortgage loans (the "Certificates"). The
Certificates may be issued in various series, and within each
series, in one or more classes, in one or more offerings on terms
determined at the time of sale (each such series, a "Series" and
each such class, a "Class"). Each Series of the Certificates will
be issued under a separate Pooling and Servicing Agreement (each,
a "Pooling and Servicing Agreement") to be dated as of the
respective cut-off date (each, a "Cut-off Date") between the
Company, as seller and servicer, and State Street Bank and Trust
Company, as trustee (the "Trustee"). Capitalized terms used but
not defined herein shall have the meanings given to them in the
related Pooling and Servicing Agreement.
The Certificates issued under each Pooling and
Servicing Agreement will represent the entire beneficial
ownership interest in a trust fund (the "Trust Fund") established
by such Pooling and Servicing Agreement. The assets of each Trust
Fund will consist primarily of a pool of conventional, fixed
rate, first lien, fully amortizing, one- to four-family
residential mortgage loans (the "Mortgage Loans") having the
original terms to maturity specified in the related Terms
Agreement referred to hereinbelow. If so specified in the related
Terms Agreement, one or more elections may be made to treat the
assets of each Trust Fund as a real estate mortgage investment
conduit (each, a "REMIC") for federal income tax purposes.
<PAGE>
Whenever the Company determines to make an offering of
Certificates (each, a "Certificate Offering") pursuant to this
Agreement through you, it will enter into an agreement with you
(the "Terms Agreement") providing for the sale of specified
Classes of Offered Certificates (as defined below) to, and the
purchase and public offering thereof by, you. Each such
Certificate Offering which the Company elects to make pursuant to
this Agreement shall be governed by this Agreement, as
supplemented by the related Terms Agreement. Each Terms
Agreement, which shall be substantially in the form of Exhibit A
hereto, shall specify, among other things, the Classes of
Certificates to be purchased by the Underwriter (the "Offered
Certificates"), the principal balance or balances of the Offered
Certificates, each subject to any stated variance, and the price
or prices at which such Offered Certificates are to be purchased
by the Underwriter from the Company.
1. Representations and Warranties. (a) The Company
represents and warrants to and agrees with the Underwriter, as of
the date of the related Terms Agreement, that:
(i) The registration statement specified
in the related Terms Agreement, on Form S-3, including
a prospectus, has been filed with the Securities and
Exchange Commission (the "Commission") for the
registration under the Securities Act of 1933, as
amended (the "Act"), of pass-through certificates
issuable in series, which registration statement has
been declared effective by the Commission. Such
registration statement, as amended to the date of the
related Terms Agreement, including any documents
incorporated by reference therein pursuant to Item 12
of Form S-3 under the Act which were filed under the
Securities Exchange Act of 1934, as amended (the
"Exchange Act"), on or before the effective date of
the Registration Statement, is hereinafter called the
"Registration Statement," and such prospectus, as such
prospectus is supplemented by a prospectus supplement
relating to the Offered Certificates of the related
Series, each in the form first filed after the date of
the related Terms Agreement pursuant to Rule 424(b)
under the Act, including any documents incorporated by
reference therein pursuant to Item 12 of Form S-3
under the Act which were filed under the Exchange Act
on or before the date of such Prospectus Supplement
(other than any such incorporated documents that
relate to Collateral Term Sheets (as defined
herein))(such prospectus supplement, including such
incorporated documents (other than those that relate
to Collateral Term Sheets), in the form first filed
after the date of the related Terms Agreement pursuant
to Rule 424(b) is hereinafter called the "Prospectus
Supplement"), is
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<PAGE>
hereinafter called the "Prospectus". Any reference
herein to the terms "amend," "amendment" or
"supplement" with respect to the Registration
Statement, the Prospectus or the Prospectus Supplement
shall be deemed to refer to and include the filing of
any document under the Exchange Act after the
effective date of the Registration Statement or the
issue date of the Prospectus or Prospectus Supplement,
as the case may be, deemed to be incorporated therein
by reference pursuant to Item 12 of Form S-3 under the
Act.
(ii) The related Registration Statement,
at the time it became effective, and the prospectus
contained therein, and any amendments thereof and
supplements thereto filed prior to the date of the
related Terms Agreement, conformed in all material
respects to the requirements of the Act and the rules
and regulations of the Commission thereunder; on the
date of the related Terms Agreement and on each
Closing Date (as defined in Section 3 below), the
related Registration Statement and the related
Prospectus, and any amendments thereof and supplements
thereto, will conform in all material respects to the
requirements of the Act and the rules and regulations
of the Commission thereunder; such Registration
Statement, at the time it became effective, did not
contain any untrue statement of a material fact or
omit to state a material fact required to be stated
therein or necessary to make the statements therein
not misleading; such Prospectus, on the date of any
filing pursuant to Rule 424(b) and on each Closing
Date, will not include any untrue statement of a
material fact or omit to state a material fact
necessary to make the statements therein, in the light
of the circumstances under which they are made, not
misleading; and the Detailed Description referred to
in such Prospectus, on each Closing Date and the date
of any filing thereof under cover of Form 8-K, will
not include any untrue statement of a material fact or
omit to state any information which such Prospectus
states will be included in such Detailed Description;
provided, however, that the Company makes no
representations or warranties as to the information
contained in or omitted from (A) such Registration
Statement or such Prospectus (or any supplement
thereto) in reliance upon and in conformity with
written information furnished to the Company by or on
behalf of the Underwriter specifically for use in the
preparation thereof or (B) any Current Report (as
defined in Section 5(b) below), or in any amendment
thereof or supplement thereto, incorporated by
reference in such Registration Statement or such
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<PAGE>
Prospectus (or any amendment thereof or supplement
thereto).
(iii) The Certificates of the related
Series will conform to the description thereof
contained in the related Prospectus; will each, if
rated at the time of issuance in one of the two
highest rating categories by a nationally recognized
statistical rating organization, be when issued a
"mortgage related security" as such term is defined in
Section 3(a)(41) of the Exchange Act, and will each on
the related Closing Date be duly and validly
authorized, and, when validly executed, countersigned,
issued and delivered in accordance with the related
Pooling and Servicing Agreement and sold to you as
provided herein and in the related Terms Agreement,
will each be validly issued and outstanding and
entitled to the benefits of the related Pooling and
Servicing Agreement.
(iv) Neither the issuance nor sale of the
Certificates of the related Series nor the
consummation of any other of the transactions herein
contemplated, nor the fulfillment of the terms hereof
or of the related Terms Agreement, will conflict with
any statute, order or regulation applicable to the
Company of any court, regulatory body, administrative
agency or governmental body having jurisdiction over
the Company or with any organizational document of the
Company or any instrument or any agreement under which
the Company is bound or to which it is a party.
(v) This Agreement and the related Terms
Agreement have been duly authorized, executed and
delivered by the Company.
(vi) At or prior to the related Closing
Date, the Company will have entered into the related
Pooling and Servicing Agreement and, assuming the due
authorization, execution and delivery thereof by the
Trustee, such Pooling and Servicing Agreement (on such
Closing Date) will constitute the valid and binding
agreement of the Company enforceable in accordance
with its terms, subject as to enforceability, to
bankruptcy, insolvency, reorganization or other
similar laws affecting creditors' rights and to
general principles of equity (regardless of whether
the enforceability of such Pooling and Servicing
Agreement is considered in a proceeding in equity or
at law).
2. Purchase and Sale. Subject to the execution of
the Terms Agreement for a particular Certificate Offering and
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<PAGE>
subject to the terms and conditions and in reliance upon the
representations and warranties set forth in this Agreement and
such Terms Agreement, the Company agrees to sell to the
Underwriter, and the Underwriter agrees to purchase from the
Company, all, but not less than all, of the related Offered
Certificates at the purchase price therefor set forth in such
Terms Agreement (the "Purchase Price").
The parties hereto agree that settlement for all
securities sold pursuant to this Agreement and the applicable
Terms Agreement shall take place on the settlement date agreed
upon at the time of the related transaction and set forth as the
"Closing Date" in such Terms Agreement and not as set forth in
Rule 15c6-1(a) of the Exchange Act.
3. Delivery and Payment. Delivery of and payment for
the Offered Certificates of a Series shall be made at the offices
of Cleary, Gottlieb, Steen & Hamilton, New York, New York, at
10:00 A.M., New York City time, on the Closing Date specified in
the related Terms Agreement, which date and time may be postponed
by agreement between the Underwriter and the Company (such date
and time being herein called the "Closing Date"). Delivery of
such Offered Certificates shall be made to the Underwriter
against payment by the Underwriter of the Purchase Price thereof
to or upon the order of the Company by wire transfer in federal
or other immediately available funds or by check payable in
federal funds, as the Company shall specify no later than five
full business days prior to such Closing Date. Unless delivery is
made through the facilities of The Depository Trust Company, the
Offered Certificates shall be registered in such names and in
such authorized denominations as the Underwriter may request not
less than two full business days in advance of each Closing Date.
The Company agrees to notify the Underwriter at least
two business days before each Closing Date of the exact principal
balance evidenced by the Offered Certificates and to have such
Offered Certificates available for inspection, checking and
packaging in New York, New York, no later than 12:00 noon on the
business day prior to such Closing Date.
4. Offering by the Underwriter. It is understood that
the Underwriter proposes to offer the Offered Certificates of the
related Series for sale to the public as set forth in the related
Prospectus.
5. Agreements. The Company agrees with the
Underwriter that:
(a) The Company will cause the Prospectus as
supplemented by a Prospectus Supplement relating to the
Offered Certificates to be filed pursuant to Rule 424 under
the Act and will promptly advise the Underwriter when such
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Prospectus as so supplemented has been so filed, and prior
to the termination of the Certificate Offering to which
such Prospectus relates also will promptly advise the
Underwriter (i) when any amendment to the related
Registration Statement specifically relating to such
Offered Certificates shall have become effective or any
further supplement to such Prospectus has been filed, (ii)
of any request by the Commission for any amendment of such
Registration Statement or Prospectus or for any additional
information, (iii) of the issuance by the Commission of any
stop order suspending the effectiveness of such
Registration Statement or the institution or threatening of
any proceeding for that purpose and (iv) of the receipt by
the Company of any written notification with respect to the
suspension of the qualification of such Offered
Certificates for sale in any jurisdiction or the initiation
or threatening of any proceeding for such purpose. The
Company will not file any amendment of the related
Registration Statement or supplement to the related
Prospectus (other than any amendment or supplement
specifically relating to one or more Series of pass-through
certificates other than the Series that includes the
related Offered Certificates) unless the Company has
furnished the Underwriter with a copy for its review prior
to filing. The Company will use its best efforts to prevent
the issuance of any such stop order and, if issued, to
obtain as soon as possible the withdrawal thereof.
(b) The Company will cause any Computational
Materials and any Structural Term Sheets (each as defined
in Section 8 below) with respect to the Offered
Certificates of a Series that are delivered by the
Underwriter to the Company pursuant to Section 8 to be
filed with the Commission on a Current Report on Form 8-K
(a "Current Report") pursuant to Rule 13a-11 under the
Exchange Act on the business day immediately following the
later of (i) the day on which such Computational Materials
and Structural Term Sheets are delivered to counsel for the
Company by the Underwriter prior to 10:30 a.m. and (ii) the
date on which this Agreement is executed and delivered. The
Company will cause one Collateral Term Sheet (as defined in
Section 9 below) with respect to the Offered Certificates
of a Series that is delivered by the Underwriter to the
Company in accordance with the provisions of Section 9 to
be filed with the Commission on a Current Report pursuant
to Rule 13a-11 under the Exchange Act on the business day
immediately following the day on which such Collateral Term
Sheet is delivered to counsel for the Company by the
Underwriter prior to 10:30 a.m. In addition, if at any time
prior to the availability of the related Prospectus
Supplement the Underwriter has delivered to any prospective
investor a Collateral Term Sheet that reflects, in the
reasonable
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judgment of the Underwriter and the Company, a material
change in the characteristics of the Mortgage Loans for the
related Series from those on which a Collateral Term Sheet
with respect to the related Series previously filed with
the Commission was based, the Company will cause any such
Collateral Term Sheet that is delivered by the Underwriter
to the Company in accordance with the provisions of Section
9 to be filed with the Commission on a Current Report on
the business day immediately following the day on which
such Collateral Term Sheet is delivered to counsel for the
Company by the Underwriter prior to 10:30 a.m. In each
case, the Company will promptly advise the Underwriter when
such Current Report has been so filed. Each such Current
Report shall be incorporated by reference in the related
Prospectus and the related Registration Statement.
Notwithstanding the five preceding sentences, the Company
shall have no obligation to file any materials provided by
the Underwriter pursuant to Sections 8 and 9 which, in the
reasonable determination of the Company after making
reasonable efforts to consult with the Underwriter, are not
required to be filed pursuant to the Kidder Letters or the
PSA Letter (each as defined in Section 8 below), or which
contain erroneous information or contain any untrue
statement of a material fact or, when read in conjunction
with the Prospectus and Prospectus Supplement, omit to
state a material fact required to be stated therein or
necessary to make the statements therein not misleading; it
being understood, however, that the Company shall have no
obligation to review or pass upon the accuracy or adequacy
of, or to correct, any Computational Materials, Structural
Term Sheets or Collateral Term Sheets provided by the
Underwriter to the Company pursuant to Section 8 or Section
9 hereof.
(c) If, at any time when a prospectus relating to
the Offered Certificates of a Series is required to be
delivered under the Act, any event occurs as a result of
which the related Prospectus as then amended or
supplemented would include any untrue statement of a
material fact or omit to state any material fact necessary
to make the statements therein in light of the
circumstances under which they were made not misleading, or
if it shall be necessary at any time to amend or supplement
the related Prospectus to comply with the Act or the rules
thereunder, the Company promptly will prepare and file with
the Commission, subject to paragraph (a) of this Section 5,
an amendment or supplement which will correct such
statement or omission or an amendment which will effect
such compliance; provided, however, that the Company will
not be required to file any such amendment or supplement
with respect to any Computational Materials, Structural
Term Sheets or Collateral Term Sheets incorporated by
reference in the
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Prospectus other than any amendments or supplements of such
Computational Materials or Structural Term Sheets that are
furnished to the Company by the Underwriter pursuant to
Section 8(e) hereof or any amendments or supplements of
such Collateral Term Sheets that are furnished to the
Company by the Underwriter pursuant to Section 9(d) hereof
which the Company determines to file in accordance
therewith.
(d) The Company will furnish to the Underwriter
and counsel for the Underwriter, without charge, as many
signed copies of the related Registration Statement
(including exhibits thereto) and, so long as delivery of a
prospectus by the Underwriter or dealer may be required by
the Act, as many copies of the related Prospectus and any
supplements thereto (other than exhibits to the related
Current Report) as the Underwriter may reasonably request.
(e) The Company will furnish such information,
execute such instruments and take such actions as may be
reasonably requested by the Underwriter to qualify the
Offered Certificates of a Series for sale under the laws of
such jurisdictions as the Underwriter may designate, to
maintain such qualifications in effect so long as required
for the distribution of such Offered Certificates and to
determine the legality of such Offered Certificates for
purchase by institutional investors; provided, however,
that the Company shall not be required to qualify to do
business in any jurisdiction where it is not qualified on
the date of the related Terms Agreement or to take any
action which would subject it to general or unlimited
service of process in any jurisdiction in which it is not,
on the date of the related Terms Agreement, subject to such
service of process.
(f) So long as the Offered Certificates of a
Series are outstanding, the Company will furnish to the
Underwriter copies of the annual independent public
accountants' servicing report furnished to the Trustee
pursuant to Section 3.13 of the related Pooling and
Servicing Agreement.
(g) Whether or not the transactions contemplated
hereby and by the related Terms Agreement shall be
consummated, the Company shall be responsible for the
payment of any costs and expenses for which details are
submitted, in connection with the performance of its
obligations under this Agreement and the related Terms
Agreement, including, without limitation, (a) the cost and
expenses of printing or otherwise reproducing the related
Registration Statement or Prospectus, this Agreement, the
related Terms Agreement, the related Pooling and Servicing
Agreement and the Offered Certificates, and (b) the cost of
delivering the related Offered Certificates to the office
of
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<PAGE>
the Underwriter, insured to the satisfaction of the
Underwriter (it being understood that, except as provided
in this paragraph (f) and in Section 7 hereof, the
Underwriter will pay all its own costs and expenses,
including the fees of Brown & Wood, counsel for the
Underwriter, transfer taxes on resale of any Offered
Certificates by it, advertising expenses connected with any
offers that it may make, the fees of KPMG Peat Marwick with
respect to its letters furnished pursuant to Section 6(i)
of the Agreement and any letter furnished pursuant to the
last sentence of Section 6(h) hereof, the fees of any firm
of public accountants selected by the Underwriter with
respect to their letter furnished pursuant to Section 8(c)
of the Agreement and any other costs and expenses specified
in the related Terms Agreement as "Additional Expenses").
6. Conditions to the Obligations of the Underwriter.
The obligations of the Underwriter to purchase the Offered
Certificates of any Series shall be subject to the accuracy in
all material respects of the representations and warranties on
the part of the Company contained in this Agreement, as
supplemented by the related Terms Agreement, as of the respective
dates thereof and the related Closing Date, to the accuracy of
the statements of the Company made in any applicable officers'
certificates pursuant to the provisions hereof, to the
performance by the Company of its obligations under this
Agreement and such Terms Agreement and to the following
additional conditions applicable to the related Certificate
Offering:
(a) No stop order suspending the effectiveness of
the related Registration Statement shall have been issued
and no proceedings for that purpose shall have been
instituted or threatened.
(b) Cleary, Gottlieb, Steen & Hamilton, counsel
for the Company, shall have furnished to the Underwriter an
opinion, dated the related Closing Date, to the effect
that:
(i) this Agreement and the related Terms
Agreement have been duly executed and delivered by the
Company under the law of the State of New York;
(ii) the related Pooling and Servicing
Agreement has been duly executed and delivered by the
Company under the law of the State of New York and is
a legal, valid and binding agreement of the Company
enforceable against the Company in accordance with its
terms;
(iii) the Offered Certificates, when duly
executed and countersigned by the Trustee in accordance
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with the related Pooling and Servicing Agreement, will
be validly issued and outstanding and entitled to the
benefits of such Pooling and Servicing Agreement;
(iv) the related Pooling and Servicing
Agreement is not required to be qualified under the
Trust Indenture Act of 1939, as amended, and the trust
created thereunder is not required to be registered
under the Investment Company Act of 1940, as amended;
(v) such counsel confirms that (based
solely upon telephone confirmation from a
representative of the Commission) the related
Registration Statement is effective under the Act and,
to the best of such counsel's knowledge, no stop order
with respect thereto has been issued, and no
proceeding for that purpose has been instituted or
threatened by the Commission; such Registration
Statement (except the financial statements and
schedules and other financial and statistical data
included therein and the documents incorporated by
reference therein, as to which such counsel need
express no view), at the time it became effective and
the related Prospectus (except the financial
statements and schedules and the other financial and
statistical data included therein, the documents
incorporated by reference therein and the information
included in the second sentence of the antepenultimate
paragraph, the first sentence of the penultimate
paragraph, and the last paragraph of the cover page of
such Prospectus Supplement and in the second and
fourth sentences of the first paragraph under the
heading "Plan of Distribution" therein, as to which
such counsel need express no view), as of the date of
the Prospectus Supplement appeared on their face to be
appropriately responsive in all material respects to
the requirements of the Act and the rules and
regulations thereunder; and no information has come to
the attention of such counsel that causes it to
believe that (A) such Registration Statement (except
the financial statements and schedules and the other
financial and statistical data included therein and
the documents incorporated by reference therein, as to
which such counsel need express no view) at the time
it became effective, contained an untrue statement of
a material fact or omitted to state a material fact
required to be stated therein or necessary to make the
statements therein not misleading or (B) such
Prospectus or any amendment or supplement thereto
(except the financial statements and schedules and the
other financial and statistical data included therein,
the documents incorporated by reference therein and
the information included in the second sentence of the
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<PAGE>
antepenultimate paragraph, the first sentence of the
penultimate paragraph, and the last paragraph of the
cover page of such Prospectus Supplement and in the
second and fourth sentences of the first paragraph
under the heading "Plan of Distribution" therein, as
to which such counsel need express no view), as of the
date of the Prospectus Supplement, or at the related
Closing Date, contained or contains an untrue
statement of a material fact or omitted or omits to
state a material fact necessary in order to make the
statements therein, in the light of the circumstances
under which they were made, not misleading;
(vi) the statements set forth under the
heading "Description of the Certificates" in the
related Prospectus, insofar as such statements purport
to summarize certain provisions of the related Pooling
and Servicing Agreement and the related Offered
Certificates, provide a fair summary of such
provisions;
(vii) the statements set forth in in the
related Prospectus under the headings "Certain Legal
Aspects of the Mortgage Loans and Contracts -- The
Mortgage Loans", "Certain Federal Income Tax
Consequences" (insofar as they relate specifically to
the purchase, ownership and disposition of the related
Offered Certificates) and "ERISA Considerations"
(insofar as they relate specifically to the purchase,
ownership and disposition of such Offered
Certificates), to the extent that they constitute
matters of law or legal conclusions, provide a fair
summary of such law or conclusions;
(viii) assuming compliance with all
provisions of the related Pooling and Servicing
Agreement, for federal income tax purposes, (A) if any
election is made to treat the assets of the Trust Fund
as a REMIC: the related Trust Fund (and any specified
subgrouping therein) will qualify as a REMIC pursuant
to Section 860D of the Internal Revenue Code of 1986,
as amended (the "Code"), each Class of Certificates of
the related Series, other than the related Residual
Class or Classes, will constitute a class of "regular
interests" in the related REMIC within the meaning of
the Code, and each Class of such Certificates
specified in the related Prospectus as a Class of
Residual Certificates will constitute the "residual
interest" in the related REMIC within the meaning of
the Code; (B) if no such REMIC election is made: the
Trust Fund will be treated as a "grantor trust"; and
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<PAGE>
(ix) assuming that some or all of the
Offered Certificates of the related Series shall be
rated at the time of issuance in one of the two
highest rating categories by a nationally recognized
statistical rating organization, each Offered
Certificate so rated will be at the time of issuance,
a "mortgage related security" as such term is defined
in Section 3(a)(41) of the Exchange Act.
Such opinion may express its reliance as to factual matters
on the representations and warranties made by, and on
certificates or other documents furnished by, officers of
the parties to this Agreement, the related Terms Agreement
or the related Pooling and Servicing Agreement. Such
opinion may assume the due authorization, execution and
delivery of the instruments and documents referred to
therein by the parties thereto other than the Company. Such
opinion may be qualified, insofar as it concerns the
enforceability of the documents referred to therein, to the
extent that such enforceability may be limited by
bankruptcy, insolvency, reorganization or other similar
laws affecting the enforcement of creditors' rights in
general and by general equity principles (regardless of
whether such enforcement is considered in a proceeding in
equity or at law). Such opinion may be further qualified as
expressing no opinion as to (x) the statements in the
related Prospectus under the heading "Certain Legal Aspects
of the Mortgage Loans and Contracts -- The Mortgage Loans"
except insofar as such statements relate to the laws of the
State of New York and the laws of the United States, and
(y) the statements in such Prospectus under the headings
"ERISA Considerations" and "Certain Federal Income Tax
Consequences" except insofar as such statements relate to
the laws of the United States. In addition, such opinion
may be qualified as an opinion only on the law of the State
of New York and the federal law of the United States of
America.
(c) The General Counsel for the Company shall
have furnished to the Underwriter an opinion, dated the
related Closing Date, to the effect that:
(i) The Company has been duly
incorporated and is validly existing as a corporation
in good standing under the laws of the State of New
Jersey, with corporate power to own its properties, to
conduct its business as described in the related
Prospectus and to enter into and perform its
obligations under this Agreement, the related Terms
Agreement, the related Pooling and Servicing Agreement
and the Certificates of the related Series;
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<PAGE>
(ii) The Company has full power and
authority to sell and service the related Mortgage
Loans as contemplated herein and in the related
Pooling and Servicing Agreement;
(iii) No consent, approval, authorization
or order of any court or governmental agency or body
is required for the consummation by the Company of the
transactions contemplated herein or in the related
Pooling and Servicing Agreement, except such as may be
required under the blue sky laws of any jurisdiction
and such other approvals as have been obtained;
(iv) Neither the issuance of the
Certificates of the related Series nor delivery of the
related Offered Certificates, nor the consummation of
any other of the transactions contemplated in this
Agreement, the related Terms Agreement or the related
Pooling and Servicing Agreement, nor the fulfillment
of the terms of the related Certificates, the related
Pooling and Servicing Agreement, this Agreement or the
related Terms Agreement will conflict with or violate
any term or provision of the articles of incorporation
or by-laws of the Company or any statute, order or
regulation applicable to the Company of any court,
regulatory body, administrative agency or governmental
body having jurisdiction over the Company and will not
conflict with, result in a breach or violation or the
acceleration of or constitute a default under the
terms of any indenture or other agreement or
instrument known to such counsel to which the Company
is a party or by which it is bound; and
(v) There are no actions, proceedings or
investigations pending or, to the best knowledge of
such counsel, threatened before any court,
administrative agency or other tribunal (i) asserting
the invalidity of this Agreement, the related Terms
Agreement, the related Pooling and Servicing Agreement
or the related Certificates, (ii) seeking to prevent
the issuance of the Certificates of the related Series
or the consummation by the Company of any of the
transactions contemplated by this Agreement, such
Terms Agreement or such Pooling and Servicing
Agreement, or (iii) which might materially and
adversely affect the performance by the Company of its
obligations under, or the validity or enforceability
of, this Agreement, such Terms Agreement, such Pooling
and Servicing Agreement or the related Certificates.
In rendering her opinion such counsel may rely as to
matters of fact, to the extent deemed proper and as stated
therein,
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<PAGE>
on certificates of responsible officers of the Company or
public officials. In addition, such opinion may be
qualified as an opinion only on the laws of the State of
New Jersey.
(d) The Underwriter shall have received from
Brown & Wood, counsel for the Underwriter, such opinion or
opinions, dated the related Closing Date, with respect to
the issuance and sale of the Certificates of the related
Series, the related Registration Statement, the related
Prospectus and such other related matters as the
Underwriter may reasonably require, and the Company shall
have furnished to such counsel such documents as the
Underwriter may reasonably request for the purpose of
enabling them to pass upon such matters.
(e) The Company shall have furnished to the
Underwriter a certificate of the Company, signed by the
President or any Vice President and the Senior Vice
President-Finance or the principal financial or accounting
officer of the Company, dated the related Closing Date, to
the effect that the signers of such certificate have
carefully examined the related Registration Statement
(excluding any Current Reports and any other documents
incorporated by reference therein), the related Prospectus,
the Detailed Description referred to in such Prospectus
(excluding any related Current Report), this Agreement and
the related Terms Agreement and that:
(i) the representations and warranties of
the Company in this Agreement are true and correct in
all material respects on and as of the related Closing
Date with the same effect as if made on such Closing
Date, and the Company has complied with all the
agreements and satisfied all the conditions on its
part to be performed or satisfied at or prior to such
Closing Date;
(ii) no stop order suspending the
effectiveness of such Registration Statement has been
issued and no proceedings for that purpose have been
instituted or, to their knowledge, threatened; and
(iii) nothing has come to their attention
that would lead them to believe that such Registration
Statement (excluding any Current Report) contains any
untrue statement of a material fact or omits to state
any material fact required to be stated therein or
necessary to make the statements therein not
misleading, that the related Prospectus (excluding any
related Current Report) contains any untrue statement
of a material fact or omits to state a material fact
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<PAGE>
required to be stated therein or necessary to make the
statements therein, in the light of the circumstances
under which they were made, not misleading, or that
the Detailed Description referred to in such
Prospectus includes any untrue statement of a material
fact or omits to state any information which the
Prospectus states will be included in such Detailed
Description.
(f) Peabody & Arnold, counsel for the Trustee,
shall have furnished to the Underwriter an opinion, dated
the related Closing Date, to the effect that:
(i) the Trustee has been duly
incorporated and is validly existing as a corporation
in good standing under the laws of the Commonwealth of
Massachusetts with corporate power to own its
properties and conduct its business as presently
conducted by it, to conduct business as a trustee and
to enter into and perform its obligations under the
related Pooling and Servicing Agreement;
(ii) the related Pooling and Servicing
Agreement has been duly authorized, executed and
delivered by the Trustee and constitutes the legal,
valid and binding agreement of the Trustee enforceable
against the Trustee in accordance with its terms,
subject to bankruptcy, insolvency, fraudulent
conveyance, reorganization or other similar laws
affecting the enforcement of creditors' rights
generally and to judicial discretion, and general
principles of equity (regardless of whether
enforcement is sought in a proceeding in equity or at
law);
(iii) the Trustee has duly accepted its
appointment as trustee under the related Pooling and
Servicing Agreement;
(iv) no consent, approval, authorization
or order of any Massachusetts or federal court or
government agency or body is required on the part of
the Trustee for the consummation of the transactions
contemplated in the related Pooling and Servicing
Agreement, except such as may be required under any
federal or state securities law; and
(v) the performance on the part of the
Trustee of any of the transactions contemplated in the
related Pooling and Servicing Agreement does not
conflict with or result in a breach or violation of
any term or provision of, or constitute a default
under, the Articles of Organization, as amended, or
By-Laws of the Trustee, or any Massachusetts or
federal statute or
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<PAGE>
regulation applicable to the Trustee, or to such
counsel's knowledge, any indenture or other agreement
or instrument to which the Trustee is a party or by
which it is bound, or, to such counsel's knowledge,
any order of any state or federal court, regulatory
body, administrative agency or governmental body
having jurisdiction over the Trustee.
In addition, such counsel shall furnish to the Underwriter
such opinions as to the treatment of the Trust Fund for
purposes of Massachusetts tax law as are reasonably
satisfactory to the Underwriter.
(g) KPMG Peat Marwick LLP shall have furnished to
the Underwriter a letter, dated as of the date of the
related Terms Agreement, in form and substance satisfactory
to the Underwriter, stating in effect that they have
performed certain specified procedures as a result of which
they have determined that such information as the
Underwriter may reasonably request of an accounting,
financial or statistical nature (which is limited to
accounting, financial or statistical information derived
from the general accounting records of the Company) set
forth in the related Prospectus Supplement under the
caption "Delinquency and Foreclosure Experience of the
Company" agrees with the accounting records of the Company,
excluding any questions of legal interpretation.
(h) KPMG Peat Marwick LLP shall have furnished to
the Underwriter a letter, dated as of the related Closing
Date, in form and substance satisfactory to the
Underwriter, stating in effect that they have performed
certain specified procedures as a result of which they have
determined that such information as the Underwriter may
reasonably request of an accounting, financial or
statistical nature (which is limited to accounting,
financial or statistical information derived from the
general accounting records of the Company and which is
obtained from an analysis of a sample of the Mortgage Loans
included in the related pool) set forth in the related
Prospectus Supplement under the caption "Description of the
Mortgage Pool and the Mortgaged Properties" or "Description
of the Mortgage Pools and the Mortgaged Properties", as the
case may be, and in the Detailed Description relating to
such Prospectus Supplement is mutually consistent and
agrees with the accounting records of the Company and,
where applicable, the related Mortgage Loan files of the
Company, excluding any questions of legal interpretation.
In addition, if applicable, such accountants shall have
furnished to the Underwriter a letter, dated as of the
related Closing Date, which shall include a statement or
statements to the effect that based upon the assumptions
and methodology agreed to by the
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Company (and which is consistent with the manner in which
any final PAC Balances, TAC Balances, Scheduled Balances,
Maximum and Minimum Scheduled Balances or any other
scheduled balances are to be calculated as set forth in the
related Prospectus), all of which shall be described by
reference in such letter, such accountants shall have
verified the mathematical accuracy of any final PAC
Balances Table, TAC Balances Table, Scheduled Balances
Table, Maximum or Minimum Scheduled Balances Table or other
scheduled balances table attached as an exhibit to the
related Pooling and Servicing Agreement.
(i) KPMG Peat Marwick LLP shall have furnished to
the Underwriter and the Company a letter or letters, dated
as of the date of the related Terms Agreement, in form and
substance satisfactory to the Underwriter and the Company,
including, without limitation, statements, if applicable,
to the effect that:
(i) based upon the assumptions and
methodology set forth in the related Prospectus, all
of which shall be described by reference in such
letter, they recomputed the percentages of initial
principal balance outstanding as of each of the
Distribution Dates (as defined in such Prospectus)
indicated and the weighted average lives of each Class
of Offered Certificates at each of the indicated
percentages of the applicable Prepayment Assumption,
and they compared the recomputed percentages and
weighted average lives to the corresponding
percentages and weighted average lives set forth in
the related tables and found them to be in agreement;
(ii) based upon the assumptions and
methodology set forth in such Prospectus, all of which
shall be described by reference in such letter, they
have verified the mathematical accuracy of any
Scheduled Final Distribution Dates for the Offered
Certificates, PAC Balances, TAC Balances, Scheduled
Balances, Maximum and Minimum Scheduled Balances or
any other scheduled balances set forth in such
Prospectus for each indicated Distribution Date, and
have verified the mathematical accuracy of any initial
Effective Ranges of any PAC Certificates, Scheduled
Certificates or other scheduled Certificates set forth
in such Prospectus; and
(iii) based upon the assumptions and
methodology set forth in such Prospectus, all of which
shall be described by reference in such letter, they
have verified the mathematical accuracy of the pre-tax
yields to maturity and, if applicable, aggregate cash
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<PAGE>
flows of any Class of Certificates for which such
pre-tax yields and, if applicable, aggregate cash
flows are set forth in such Prospectus at the
indicated percentages of the Prepayment Assumption
and, if applicable, at the indicated values of COFI,
LIBOR or any other index, as applicable.
(j) The Offered Certificates of the related
Series shall have received the ratings specified in the
related Terms Agreement (the "Required Ratings").
(k) Prior to the related Closing Date, the
Company shall have furnished to the Underwriter such
further information, certificates and documents as the
Underwriter may reasonably request.
(l) If any Certificates of the related Series are
to be sold to any other underwriter and/or offered in
reliance upon an exemption from the registration
requirements of the Act, the sale at or prior to the
related Closing Date of such Certificates to the purchaser
thereof shall have occurred.
(m) Subsequent to the date of the related Terms
Agreement, there shall not have been any change, or any
development involving a prospective change, in or affecting
the business or properties of the Company which the
Underwriter concludes in its judgment, after consultation
with the Company, materially impairs the investment quality
of the Offered Certificates of the related Series so as to
make it impractical or inadvisable to proceed with the
public offering or the delivery of such Offered
Certificates as contemplated by the related Prospectus.
If any of the conditions specified in this Section 6
shall not have been fulfilled in all material respects with
respect to the particular Offered Certificates of a Series when
and as provided in this Agreement and the related Terms
Agreement, or if any of the opinions and certificates mentioned
above or elsewhere in this Agreement and the related Terms
Agreement shall not be in all material respects reasonably
satisfactory in form and substance to the Underwriter and its
counsel, this Agreement (with respect to the related Offered
Certificates) and the related Terms Agreement and all obligations
of the Underwriter hereunder (with respect to the related Offered
Certificates) and thereunder may be canceled at, or at any time
prior to, the related Closing Date by the Underwriter. Notice of
such cancellation shall be given to the Company in writing, or by
telephone or telegraph confirmed in writing.
7. Indemnification and Contribution. (a) The Company
agrees to indemnify and hold harmless the Underwriter and each
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person who controls the Underwriter within the meaning of the Act
or the Exchange Act against any and all losses, claims, damages
or liabilities, joint or several, to which they or any of them
may become subject under the Act, the Exchange Act, or other
Federal or state statutory law or regulation, at common law or
otherwise, insofar as such losses, claims, damages or liabilities
(or actions in respect thereof) arise out of or are based upon
any untrue statement or alleged untrue statement of a material
fact contained in the Registration Statement relating to the
Offered Certificates of the applicable Series as it became
effective or in any amendment or supplement thereof, or in such
Registration Statement or the related Prospectus, or in any
amendment thereof, or in the Detailed Description referred to in
such Prospectus or arise out of or are based upon the omission or
alleged omission (in the case of any Computational Materials or
ABS Term Sheets (in each case, as defined herein) in respect of
which the Company agrees to indemnify the Underwriter, as set
forth below, when such are read in conjunction with the related
Prospectus and Prospectus Supplement) to state therein a material
fact required to be stated therein or necessary to make the
statements therein not misleading, and agrees to reimburse each
such indemnified party for any legal or other expenses reasonably
incurred by them in connection with investigating or defending
any such loss, claim, damage, liability or action; provided,
however, that (i) the Company will not be liable in any such case
to the extent that any such loss, claim, damage or liability
arises out of or is based upon any such untrue statement or
alleged untrue statement or omission or alleged omission made
therein (A) in reliance upon and in conformity with written
information furnished to the Company as herein stated by or on
behalf of the Underwriter specifically for use in connection with
the preparation thereof or (B) in any Current Report or any
amendment or supplement thereof, except to the extent that any
untrue statement or alleged untrue statement therein or omission
therefrom results (or is alleged to have resulted) directly from
an error (a "Mortgage Pool Error") in the information concerning
the characteristics of the Mortgage Loans furnished by the
Company to the Underwriter in writing or by electronic
transmission that was used in the preparation of either (x) any
Computational Materials or ABS Term Sheets (or amendments or
supplements thereof) included in such Current Report (or
amendment or supplement thereof) or (y) any written or electronic
materials furnished to prospective investors on which the
Computational Materials (or amendments or supplements) were
based, (ii) such indemnity with respect to any Corrected
Statement (as defined below) in such Prospectus (or supplement
thereto) shall not inure to the benefit of the Underwriter (or
any person controlling the Underwriter) from whom the person
asserting any loss, claim, damage or liability purchased the
Certificates of the related Series that are the subject thereof
if such person did not receive a copy of a supplement to such
Prospectus at or prior to the confirmation of the sale of such
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<PAGE>
Certificates and the untrue statement or omission of a material
fact contained in such Prospectus (or supplement thereto) was
corrected (a "Corrected Statement") in such other supplement and
such supplement was furnished by the Company to the Underwriter
prior to the delivery of such confirmation, and (iii) such
indemnity with respect to any Mortgage Pool Error shall not inure
to the benefit of the Underwriter (or any person controlling the
Underwriter) from whom the person asserting any loss, claim,
damage or liability received any Computational Materials (or any
written or electronic materials on which the Computational
Materials are based) or ABS Term Sheets that were prepared on the
basis of such Mortgage Pool Error, if, prior to the time of
confirmation of the sale of the applicable Certificates to such
person, the Company notified the Underwriter in writing of the
Mortgage Pool Error or provided in written or electronic form
information superseding or correcting such Mortgage Pool Error
(in any such case, a "Corrected Mortgage Pool Error"), and the
Underwriter failed to notify such person thereof or to deliver to
such person corrected Computational Materials (or underlying
written or electronic materials) or ABS Term Sheets. This
indemnity agreement will be in addition to any liability which
the Company may otherwise have.
(b) The Underwriter agrees to indemnify and hold
harmless the Company, each of its directors, each of its officers
who signs the Registration Statement relating to the Offered
Certificates of the applicable Series, and each person who
controls the Company within the meaning of the Act or the
Exchange Act to the same extent as the foregoing indemnities from
the Company to the Underwriter, but only with reference to (A)
written information furnished to the Company by or on behalf of
the Underwriter specifically for use in the preparation of the
documents referred to in the foregoing indemnity with respect to
the related Series, or (B) any Computational Materials or ABS
Term Sheets (or amendments or supplements thereof) furnished to
the Company by the Underwriter pursuant to Section 8 and
incorporated by reference in such Registration Statement or the
related Prospectus or any amendment or supplement thereof (except
that no such indemnity shall be available for any losses, claims,
damages or liabilities, or actions in respect thereof, resulting
from any Mortgage Pool Error, other than a Corrected Mortgage
Pool Error). This indemnity agreement will be in addition to any
liability which the Underwriter may otherwise have. The Company
acknowledges that the statements set forth in the second sentence
of the ante-penultimate paragraph, the first sentence of the
penultimate paragraph, and in the last paragraph appearing on the
cover page of the related Prospectus Supplement as such
statements relate to such Offered Certificates and the second
sentence of the first paragraph under the heading "Plan of
Distribution" in such Prospectus Supplement as such statements
relate to such Offered Certificates constitute the only
information furnished in writing by or on behalf of the
- 20 -
<PAGE>
Underwriter for inclusion in the related Prospectus (other than
any Computational Materials or ABS Term Sheets (or amendments or
supplements thereof) furnished to the Company by the
Underwriter), and the Underwriter confirms that such statements
are correct.
(c) Promptly after receipt by an indemnified party
under Section 7 of notice of the commencement of any action, such
indemnified party will, if a claim in respect thereof is to be
made against the indemnifying party under this Section 7, notify
the indemnifying party in writing of the commencement thereof;
but the omission so to notify the indemnifying party will not
relieve it from any liability which it may have to any
indemnified party otherwise than under this Section 7. In case
any such action is brought against any indemnified party, and it
notifies the indemnifying party of the commencement thereof, the
indemnifying party will be entitled to participate therein, and
to the extent that it may elect by written notice delivered to
the indemnified party promptly after receiving the aforesaid
notice from such indemnified party, to assume the defense
thereof, with counsel satisfactory to such indemnified party;
provided, however, that if the defendants in any such action
include both the indemnified party and the indemnifying party and
the indemnified party shall have reasonably concluded that there
may be legal defenses available to it and/or other indemnified
parties which are different from or additional to those available
to the indemnifying party, the indemnified party or parties shall
have the right to select separate counsel to assert such legal
defenses and to otherwise participate in the defense of such
action on behalf of such indemnified party or parties. Upon
receipt of notice from the indemnifying party to such indemnified
party of its election so to assume the defense of such action and
approval by the indemnified party of counsel, the indemnifying
party will not be liable to such indemnified party under this
Section 7 for any legal or other expenses subsequently incurred
by such indemnified party in connection with the defense thereof
unless (i) the indemnified party shall have employed separate
counsel in connection with the assertion of legal defenses in
accordance with the proviso to the next preceding sentence (it
being understood, however, that the indemnifying party shall not
be liable for the expenses of more than one separate counsel
approved by the indemnified party in the case of subparagraph (a)
or (b), representing the indemnified parties under subparagraph
(a) or (b), who are parties to such action), (ii) the
indemnifying party shall not have employed counsel satisfactory
to the indemnified party to represent the indemnified party
within a reasonable time after notice of commencement of the
action or (iii) the indemnifying party has authorized the
employment of counsel for the indemnified party at the expense of
the indemnifying party; and except that, if clause (i) or (iii)
is applicable, such liability shall be only in respect of the
counsel referred to in such clause (i) or (iii).
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<PAGE>
(d) If the indemnification provided for in paragraph
(a) or (b) of this Section 7 is due in accordance with its terms
but is for any reason held by a court to be unavailable from the
Company or the Underwriter, on grounds of policy or otherwise, or
if the indemnified party failed to give notice under paragraph
(c) of this Section 7 in respect of a claim otherwise subject to
indemnification in accordance with paragraph (a) or (b) of this
Section 7, the Company and the Underwriter shall contribute to
the aggregate losses, claims, damages and liabilities (including
legal and other expenses reasonably incurred in connection with
investigating or defending same) to which the Company and the
Underwriter may be subject, as follows:
(i) in the case of any losses, claims, damages and
liabilities (or actions in respect thereof) which do not
arise out of or are not based upon any untrue statement or
omission of a material fact in any Computational Materials
or ABS Term Sheets (or any amendments or supplements
thereof), in such proportion so that the Underwriter is
responsible for that portion represented by the difference
between the proceeds to the Company in respect of the
Offered Certificates appearing on the cover page of the
Prospectus Supplement for the related Series and the total
proceeds received by the Underwriter from the sale of such
Offered Certificates (the "Underwriting Discount"), and the
Company is responsible for the balance; provided, however,
that in no case shall the Underwriter be responsible under
this subparagraph (i) for any amount in excess of such
Underwriting Discount applicable to the Offered
Certificates purchased by the Underwriter pursuant to this
Agreement and the related Terms Agreement; and
(ii) in the case of any losses, claims, damages and
liabilities (or actions in respect thereof) which arise out
of or are based upon any untrue statement or omission of a
material fact in any Computational Materials or ABS Term
Sheets (or any amendments or supplements thereof) or in any
written or electronic materials distributed to prospective
investors on which the Computational Materials are based,
in such proportion as is appropriate to reflect the
relative fault of the Company on the one hand and the
Underwriter on the other in connection with the statements
or omissions which resulted in such losses, claims, damages
or liabilities (or actions in respect thereof) as well as
any other relevant equitable considerations. The relative
fault shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a
material fact or the omission or alleged omission to state
a material fact in such Computational Materials or ABS Term
Sheets (or any amendments or supplements thereof or such
written or electronic materials) results from information
prepared by the Company on the one hand or the Underwriter
on the other
- 22 -
<PAGE>
and the parties' relative intent, knowledge, access to
information and opportunity to correct or prevent such
statement or omission.
Notwithstanding anything to the contrary in this Section 7(d), no
person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Act) shall be entitled to contribution
from any person who was not guilty of such fraudulent
misrepresentation. For purposes of this Section 7, each person
who controls the Underwriter within the meaning of either the Act
or the Exchange Act shall have the same rights to contribution as
the Underwriter, and each person who controls the Company within
the meaning of either the Act or the Exchange Act, each officer
of the Company who shall have signed the Registration Statement
and each director of the Company shall have the same rights to
contribution as the Company, subject in each case to the
immediately preceding sentence of this paragraph (d).
8. Computational Materials and Structural Term Sheets.
(a) Not later than 10:30 a.m., New York time, on the business day
before the date on which the Current Report relating to the
Offered Certificates of a Series is required to be filed by the
Company with the Commission pursuant to Section 5(b) hereof, the
Underwriter shall deliver to the Company five complete copies of
all materials provided by the Underwriter to prospective
investors in such Offered Certificates which constitute (i)
"Computational Materials" within the meaning of the no-action
letter dated May 20, 1994 issued by the Division of Corporation
Finance of the Commission to Kidder, Peabody Acceptance
Corporation I, Kidder, Peabody & Co. Incorporated, and Kidder
Structured Asset Corporation and the no-action letter dated May
27, 1994 issued by the Division of Corporation Finance of the
Commission to the Public Securities Association (together, the
"Kidder Letters"), the filing of which material is a condition of
the relief granted in such letter (such materials being the
"Computational Materials"), and (ii) "Structural Term Sheets"
within the meaning of the no-action letter dated February 17,
1995 issued by the Division of Corporation Finance of the
Commission to the Public Securities Association (the "PSA
Letter") and the filing of such material is a condition of the
relief granted in such letter (such materials being the
"Structural Term Sheets"). Each delivery of Computational
Materials and Structural Term Sheets to the Company pursuant to
this paragraph (a) shall be effected by delivering four copies of
such materials to counsel for the Company on behalf of the
Company at the address specified in Section 3 hereof and one copy
of such materials to the Company.
(b) The Underwriter represents and warrants to and
agrees with the Company, as of the date of the related Terms
Agreement and as of the Closing Date, that:
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<PAGE>
(i) the Computational Materials furnished to the
Company pursuant to Section 8(a) constitute (either in
original, aggregated or consolidated form) all of the
materials furnished to prospective investors by the
Underwriter prior to the time of delivery thereof to
the Company that are required to be filed with the
Commission with respect to the related Offered
Certificates in accordance with the Kidder Letters,
and such Computational Materials comply with the
requirements of the Kidder Letters;
(ii) the Structural Term Sheets furnished to the
Company pursuant to Section 8(a) constitute all of the
materials furnished to prospective investors by the
Underwriter prior to the time of delivery thereof to
the Company that are required to be filed with the
Commission as "Structural Term Sheets" with respect to
the related Offered Certificates in accordance with
the PSA Letter, and such Structural Term Sheets comply
with the requirements of the PSA Letter;
(iii) on the date any such Computational Materials
or Structural Term Sheets with respect to such Offered
Certificates (or any written or electronic materials
furnished to prospective investors on which the
Computational Materials are based) were last furnished
to each prospective investor and on the date of
delivery thereof to the Company pursuant to Section
8(a) and on the related Closing Date, such
Computational Materials (or such other materials) or
Structural Term Sheets did not and will not include
any untrue statement of a material fact or, when read
in conjunction with the related Prospectus and
Prospectus Supplement, omit to state a material fact
required to be stated therein or necessary to make the
statements therein not misleading;
(iv) the Underwriter has not represented to any
prospective investor that any Computational Materials
or Structural Term Sheets with respect to any Series
were prepared or disseminated on behalf of the
Company, and all Computational Materials and
Structural Term Sheets furnished to prospective
investors (and all written and electronic materials
furnished to prospective investors on which the
Computational Materials are based) included a
disclaimer to the effect set forth in Section 8(d);
and
(v) at the time any Computational Materials (or
any written or electronic materials furnished to
prospective investors on which the Computational
Materials are based) with respect to such Offered
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<PAGE>
Certificates were furnished to a prospective investor
and on the date of the related Terms Agreement, the
Underwriter possessed, and on the date of delivery of
such materials to the Company pursuant to this Section
8 and on the related Closing Date, the Underwriter
will possess, the capability, knowledge, expertise,
resources and systems of internal control necessary to
ensure that such Computational Materials conform to
the representations and warranties of the Underwriter
contained in subparagraphs (i) and (iii) above of this
paragraph (b).
Notwithstanding the foregoing, the Underwriter makes no
representation or warranty as to whether any Computational
Materials or Structural Term Sheets (or any written or electronic
materials on which the Computational Materials are based)
included or will include any untrue statement resulting directly
from any Mortgage Pool Error (except any Corrected Mortgage Pool
Error, with respect to materials prepared after the receipt by
the Underwriter from the Company of notice of such Corrected
Mortgage Pool Error or materials superseding or correcting such
Corrected Mortgage Pool Error).
(c) The Underwriter shall cause a firm of public
accountants to furnish to the Company a letter, dated as of the
date on which the Underwriter delivers any Computational
Materials (which term shall be deemed to include, for purposes of
this paragraph (c), calculated statistical information delivered
to prospective investors in the form of a Structural Term Sheet)
to the Company pursuant to Section 8(a), in form and substance
satisfactory to the Company, stating in effect that they have
verified the mathematical accuracy of any calculations performed
by the Underwriter and set forth in such Computational Materials.
(d) The Underwriter acknowledges and agrees that the
Company has not authorized and will not authorize the
distribution of any Computational Materials (or any written or
electronic materials on which the Computational Materials are
based) or Structural Term Sheets to any prospective investor, and
agrees that any Computational Materials or Structural Term Sheets
with respect to any Series of Certificates furnished to
prospective investors from and after October 11, 1995 included
and shall include a disclaimer in form satisfactory to the
Company to the effect that such materials have been prepared and
disseminated solely by and on behalf of the Underwriter, and that
the Company has not reviewed or participated in the preparation
or dissemination of such materials and is not responsible for the
contents or accuracy thereof. The Underwriter agrees that it will
not represent to prospective investors that any Computational
Materials or Structural Term Sheets were prepared or disseminated
on behalf of the Company.
- 25 -
<PAGE>
(e) If, at any time when a prospectus relating to the
Offered Certificates of a Series is required to be delivered
under the Act, it shall be necessary to amend or supplement the
related Prospectus as a result of an untrue statement of a
material fact contained in any Computational Materials or
Structural Term Sheets provided by the Underwriter pursuant to
this Section 8 or the omission to state therein a material fact
required, when considered in conjunction with the related
Prospectus and Prospectus Supplement, to be stated therein or
necessary to make the statements therein, when read in
conjunction with the related Prospectus and Prospectus
Supplement, not misleading, or if it shall be necessary to amend
or supplement any Current Report relating to any Computational
Materials or Structural Term Sheets to comply with the Act or the
rules thereunder, the Underwriter promptly will prepare and
furnish to the Company for filing with the Commission an
amendment or supplement which will correct such statement or
omission or an amendment which will effect such compliance. The
Underwriter represents and warrants to the Company, as of the
date of delivery of such amendment or supplement to the Company,
that such amendment or supplement will not include any untrue
statement of a material fact or, when read in conjunction with
the related Prospectus and Prospectus Supplement, omit to state a
material fact required to be stated therein or necessary to make
the statements therein not misleading; provided, however, the
Underwriter makes no representation or warranty as to whether any
such amendment or supplement will include any untrue statement
resulting directly from any Mortgage Pool Error (except any
Corrected Mortgage Pool Error, with respect to any such amendment
or supplement prepared after the receipt by the Underwriter from
the Company of notice of such Corrected Mortgage Pool Error or
materials superseding or correcting such Corrected Mortgage Pool
Error). The Company shall have no obligation to file such
amendment or supplement if the Company determines that (i) such
amendment or supplement contains any untrue statement of a
material fact or, when read in conjunction with the related
Prospectus and Prospectus Supplement, omits to state a material
fact required to be stated therein or necessary to make the
statements therein not misleading; it being understood, however,
that the Company shall have no obligation to review or pass upon
the accuracy or adequacy of, or to correct, any such amendment or
supplement provided by the Underwriter to the Company pursuant to
this paragraph (e) or (ii) such filing is not required under the
Act.
9. Collateral Term Sheets. (a) Prior to the delivery
of any "Collateral Term Sheet" within the meaning of the PSA
Letter, the filing of which material is a condition of the relief
granted in such letter (such material being the "Collateral Term
Sheets"), to a prospective investor in any Offered Certificates,
the Underwriter shall, in order to facilitate the timely filing
of such material with the
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<PAGE>
Commission, notify the Company and its counsel by telephone of
its intention to deliver such materials and the approximate date
on which the first such delivery of such materials is expected to
occur. Not later than 10:30 a.m., New York time, on the business
day immediately following the date on which any Collateral Term
Sheet was first delivered to a prospective investor in such
Offered Certificates, the Underwriter shall deliver to the
Company five complete copies of all materials provided by the
Underwriter to prospective investors in the Offered Certificates
which constitute "Collateral Term Sheets." Each delivery of a
Collateral Term Sheet to the Company pursuant to this paragraph
(a) shall be effected by delivering four copies of such materials
to counsel for the Company on behalf of the Company at the
address specified in Section 3 hereof and one copy of such
materials to the Company. (Collateral Term Sheets and Structural
Term Sheets are, together, referred to herein as "ABS Term
Sheets.") At the time of each such delivery, the Underwriter
shall indicate in writing that the materials being delivered
constitute Collateral Term Sheets, and, if there has been any
prior such delivery with respect to the related Series, shall
indicate whether such materials differ in any material respect
from any Collateral Term Sheets previously delivered to the
Company with respect to such Series pursuant to this Section 9(a)
as a result of the occurrence of a material change in the
characteristics of the related Mortgage Loans.
(b) The Underwriter represents and warrants to and
agrees with the Company as of the date of the related Terms
Agreement and as of the Closing Date, that:
(i) The Collateral Term Sheets furnished to
the Company pursuant to Section 9(a) constitute all of the
materials furnished to prospective investors by the
Underwriter prior to time of delivery thereof to the
Company that are required to be filed with the Commission
as "Collateral Term Sheets" with respect to the related
Offered Certificates in accordance with the PSA Letter, and
such Collateral Term Sheets comply with the requirements of
the PSA Letter;
(ii) On the date any such Collateral Term
Sheets with respect to such Offered Certificates were last
furnished to each prospective investor and on the date of
delivery thereof to the Company pursuant to Section 9(a)
and on the related Closing Date, such Collateral Term
Sheets did not and will not include any untrue statement of
a material fact or, when read in conjunction with the
Prospectus and Prospectus Supplement, omit to state a
material fact required to be stated therein or necessary to
make the statements therein not misleading; and
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<PAGE>
(iii) the Underwriter has not represented to
any prospective investor that any Collateral Term Sheets
with respect to any Series were prepared or disseminated on
behalf of the Company, and, except as otherwise disclosed
by the Underwriter to the Company in writing prior to the
date hereof, all Collateral Term Sheets previously
furnished to prospective investors included a disclaimer to
the effect set forth in Section 8(d).
Notwithstanding the foregoing, the Underwriter makes no
representation or warranty as to whether any Collateral Term
Sheet included or will include any untrue statement or material
omission resulting directly from any Mortgage Pool Error (except
any Corrected Mortgage Pool Error, with respect to materials
prepared after the receipt by the Underwriter from the Company of
notice of such Corrected Mortgage Pool Error or materials
superseding or correcting such Corrected Mortgage Pool Error).
(c) The Underwriter acknowledges and agrees that any
Collateral Term Sheets with respect to any Series of Certificates
furnished to prospective investors from and after the date hereof
shall include a disclaimer in form satisfactory to the Company to
the effect set forth in Section 8(d) hereof, and to the effect
that the information contained in such materials supersedes the
information contained in any prior Collateral Term Sheet with
respect to such Series of Offered Certificates and will be
superseded by the description of the related Mortgage Loans in
the related Prospectus Supplement and in the Detailed Description
relating to such Prospectus Supplement to be filed under cover of
Form 8-K. The Underwriter agrees that it will not represent to
prospective investors that any Collateral Term Sheets were
prepared or disseminated on behalf of the Company.
(d) If, at any time when a prospectus relating to the
Offered Certificates of a Series is required to be delivered
under the Act, it shall be necessary to amend or supplement the
related Prospectus as a result of an untrue statement of a
material fact contained in any Collateral Term Sheets provided by
the Underwriter pursuant to this Section 9 or the omission to
state therein a material fact required, when considered in
conjunction with the related Prospectus and Prospectus
Supplement, to be stated therein or necessary to make the
statements therein, when read in conjunction with the related
Prospectus and Prospectus Supplement, not misleading, or if it
shall be necessary to amend or supplement any Current Report
relating to any Collateral Term Sheets to comply with the Act or
the rules thereunder, the Underwriter promptly will prepare and
furnish to the Company for filing with the Commission an
amendment or supplement which will correct such statement or
omission or an amendment which will effect such compliance. The
Underwriter represents and warrants to the Company, as of the
date of delivery of such amendment or supplement to the Company,
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<PAGE>
that such amendment or supplement will not include any untrue
statement of a material fact or, when read in conjunction with
the related Prospectus and Prospectus Supplement, omit to state a
material fact required to be stated therein or necessary to make
the statements therein not misleading; provided, however, the
Underwriter makes no representation or warranty as to whether any
such amendment or supplement will include any untrue statement
resulting directly from any Mortgage Pool Error (except any
Corrected Mortgage Pool Error, with respect to any such amendment
or supplement prepared after the receipt by the Underwriter from
the Company of notice of such Corrected Mortgage Pool Error or
materials superseding or correcting such Corrected Mortgage Pool
Error). The Company shall have no obligation to file such
amendment or supplement if the Company determines that (i) such
amendment or supplement contains any untrue statement of a
material fact or, when read in conjunction with the related
Prospectus and Prospectus Supplement, omits to state a material
fact required to be stated therein or necessary to make the
statements therein not misleading; it being understood, however,
that the Company shall have no obligation to review or pass upon
the accuracy or adequacy of, or to correct, any such amendment or
supplement provided by the Underwriter to the Company pursuant to
this paragraph (d) or (ii) such filing is not required under the
Act.
10. Termination. This Agreement (with respect to a
particular Certificate Offering) and the related Terms Agreement
shall be subject to termination in the absolute discretion of the
Underwriter, by notice given to the Company prior to delivery of
and payment for the related Offered Certificates, if prior to the
related Closing Date (i) trading in securities generally on the
New York Stock Exchange shall have been suspended or materially
limited, (ii) a general moratorium on commercial banking
activities in New York shall have been declared by either federal
or New York State authorities, or (iii) there shall have occurred
any outbreak or material escalation of hostilities or other
calamity or crisis the effect of which on the financial markets
of the United States is such as to make it, in the reasonable
judgment of the Underwriter, impracticable to market such Offered
Certificates.
11. Representations and Indemnities to Survive
Delivery. The agreements, representations, warranties,
indemnities and other statements of the Company or its officers
and of the Underwriter set forth in or made pursuant to this
Agreement and the related Terms Agreement will remain in full
force and effect, regardless of any investigation made by or on
behalf of the Underwriter or the Company or any of the officers,
directors or controlling persons referred to in Section 7 hereof,
and will survive delivery of and payment for the related Offered
Certificates. The provisions of Section 7 hereof shall survive
- 29 -
<PAGE>
the termination or cancellation of this Agreement and the related
Terms Agreement.
12. Successors. This Agreement and the related Terms
Agreement will inure to the benefit of and be binding upon the
parties hereto and thereto and their respective successors and
the officers, directors and controlling persons referred to in
Section 7 hereof, and their successors and assigns, and no other
person will have any right or obligation hereunder or thereunder.
No purchaser of any Offered Certificate from the Underwriter
shall be deemed a successor or assign by reason of such purchase.
13. APPLICABLE LAW. THIS AGREEMENT AND THE RELATED
TERMS AGREEMENT WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS
MADE AND TO BE PERFORMED THEREIN.
14. Miscellaneous. This Agreement, as supplemented by
the related Terms Agreement, supersedes all prior and
contemporaneous agreements and understandings relating to the
subject matter hereof. This Agreement and the related Terms
Agreement or any term of each may not be changed, waived,
discharged or terminated except by an affirmative written
agreement made by the party against whom enforcement of the
change, waiver, discharge or termination is sought. The headings
in this Agreement and the related Terms Agreement are for
purposes of reference only and shall not limit or otherwise
affect the meaning hereof or thereof.
15. Notices. All communications hereunder will be in
writing and effective only on receipt, and, if sent to the
Underwriter, will be delivered to it at the address first above
written; or if sent to the Company, will be delivered to GE
Capital Mortgage Services, Inc., Three Executive Campus, Cherry
Hill, New Jersey 08002, Attention: General Counsel.
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<PAGE>
If the foregoing is in accordance with your
understanding of our agreement, please sign and return to the
undersigned a counterpart hereof, whereupon this letter and your
acceptance shall represent a binding agreement between the
Company and the Underwriter.
Very truly yours,
GE CAPITAL MORTGAGE SERVICES, INC.
By:
Name:
Title:
The foregoing Agreement is hereby confirmed and accepted as of
the date first above written.
SALOMON BROTHERS INC
By:
Name:
Title:
<PAGE>
EXHIBIT A
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES ____-__
TERMS AGREEMENT
(to Underwriting Agreement,
dated October 23, 1995
between the Company and the Underwriter)
GE Capital Mortgage Services, Inc. New York, New York
Three Executive Campus [Date]
Cherry Hill, NJ 08002
Salomon Brothers Inc (the "Underwriter") agrees,
subject to the terms and provisions herein and of the captioned
Underwriting Agreement (the "Underwriting Agreement"), to
purchase such Classes of Series ____-__ Certificates specified in
Section 2(a) hereof (the "Offered Certificates"). This letter
supplements and modifies the Underwriting Agreement solely as it
relates to the purchase and sale of the Offered Certificates
described below. The Series ____-__ Certificates are registered
with the Securities and Exchange Commission by means of an
effective Registration Statement (No. 33-___). Capitalized terms
used and not defined herein have the meanings given them in the
Underwriting Agreement.
Section 1. The Mortgage Pool: The Series ____-__
Certificates shall evidence the entire beneficial ownership
interest in a mortgage pool (the "Mortgage Pool") of
conventional, fixed rate, fully amortizing one- to four-family
residential mortgage loans (the "Mortgage Loans") having the
following characteristics as of ________ __, ____ (the "Cut-off
Date"):
(a) Aggregate Principal Amount of the Mortgage Pool:
$[ ] aggregate principal balance as of the Cutoff Date,
subject to [an upward or downward variance of up to [ ]%,
the precise aggregate principal balance to be determined by
the Company][a permitted variance such that the aggregate
Scheduled Principal Balance thereof will be not less than
$[ ] or greater than $[ ]].
(b) Original Terms to Maturity: The original term to
maturity of each Mortgage Loan included in the Mortgage Pool
shall be between ___ and ___ years.
A-1
<PAGE>
Section 2. The Certificates: The Offered
Certificates shall be issued as follows:
(a) Classes: The Offered Certificates shall be issued
with the following Class designations, interest rates and
principal balances, subject in the aggregate to the
variance referred to in Section 1(a)[and, as to any
particular Class, to an upward or downward variance of up
to [ ]%]:
Principal Interest Class Purchase
Class Balance Rate Price Percentage
(b) The Offered Certificates shall have such other
characteristics as described in the related Prospectus.
Section 3. Purchase Price: The Purchase Price for each
Class of the Offered Certificates shall be the Class Purchase
Price Percentage therefor (as set forth in Section 2(a) above) of
the initial Class Certificates Principal Balance thereof plus
accrued interest at the rate of [ ]% per annum from and including
the Cut-off Date up to, but not including, _________ __, ____
(the "Closing Date").
Section 4. Required Ratings: The Offered
Certificates shall have received Required Ratings of at least
[ ] from [ ].
Section 5. Tax Treatment: [One or more elections
will be made to treat the assets of the Trust Fund as a REMIC.]
[The Trust Fund will be treated as a "grantor trust" for federal
income tax purposes.]
[Section 6. Additional Expenses:]*
- --------
* to be inserted if applicable.
A-2
<PAGE>
If the foregoing is in accordance with your
understanding of our agreement, please sign and return to the
undersigned a counterpart hereof, whereupon this letter and your
acceptance shall represent a binding agreement between the
Underwriter and the Company.
Very truly yours,
SALOMON BROTHERS INC
By:
Name:
Title:
The foregoing Agreement is hereby confirmed and accepted as of
the date first above written.
GE CAPITAL MORTGAGE SERVICES, INC.
By:
Name:
Title:
A-3
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES 1998-15
TERMS AGREEMENT
(to Underwriting Agreement
dated October 23, 1995,
between the Company and the Underwriter)
GE Capital Mortgage Services, Inc. New York, New York
Three Executive Campus September 23, 1998
Cherry Hill, NJ 08002
Salomon Smith Barney Inc. (the "Underwriter") agrees,
subject to the terms and provisions herein and of the captioned
Underwriting Agreement (the "Underwriting Agreement"), to
purchase the Classes of Series 1998-15 Certificates specified in
Section 2(a) hereof (the "Offered Certificates"). This Terms
Agreement supplements and modifies the Underwriting Agreement
solely as it relates to the purchase and sale of the Offered
Certificates described below. The Series 1998-15 Certificates are
registered with the Securities and Exchange Commission by means
of an effective Registration Statement (No. 333-51151).
Capitalized terms used and not defined herein have the meanings
given them in the Underwriting Agreement.
Section 1. The Mortgage Pool: The Series 1998-15
Certificates shall evidence the entire beneficial ownership
interest in a mortgage pool (the "Mortgage Pool") of
conventional, fixed rate, fully amortizing, first lien one- to
four-family residential mortgage loans (the "Mortgage Loans")
having the following characteristics as of September 1, 1998 (the
"Cut-off Date"):
(a) Aggregate Principal Amount of the Mortgage Pool:
$475,922,798.28 aggregate principal balance as of the
Cut-off Date, subject to a permitted variance such that the
aggregate original Certificate Principal Balance will be
not less than $451,250,000 or greater than $498,750,000.
(b) Original Terms to Maturity: The original term to
maturity of substantially all of the Mortgage Loans
included in the Mortgage Pool shall be between 20 and 30
years.
Section 2. The Certificates: The Offered Certificates shall
be issued as follows:
<PAGE>
(a) Classes: The Offered Certificates shall be issued
with the following Class designations, interest rates and
principal balances, subject in the aggregate to the
variance referred to in Section 1(a):
Class
Purchase
Principal Interest Price
Class Balance Rate Percentage
- ----- --------- ------- ----------
Class A1 $261,327,000 6.750% 99.476560%
Class A2 89,086,000 6.750 99.476560
Class A3 30,235,235 (1) 99.476560
Class A4 7,838,765 (1) 99.476560
Class A5 1,500,000 6.750 99.476560
Class A6 1,500,000 6.750 99.476560
Class A7 2,000,000 6.750 99.476560
Class A8 8,571,429 6.500 99.476560
Class A9 5,000,000 7.000 99.476560
Class A10 1,428,571 7.375 99.476560
Class A11 47,500,000 6.750 99.476560
Class R 100 6.750 99.476560
- -------------
(1) The Class A3 and Class A4 Certificates will accrue interest
at the respective rate determined as set forth in the
Prospectus Supplement.
(b) The Offered Certificates shall have such other
characteristics as described in the related Prospectus.
Section 3. Purchase Price: The Purchase Price for each
Class of the Offered Certificates shall be the Class Purchase
Price Percentage therefor (as set forth in Section 2(a) above) of
the initial Class Certificate Principal Balance thereof plus
accrued interest at the initial interest rate per annum from and
including the Cut-off Date up to, but not including, September
24, 1998 (the "Closing Date").
Section 4. Required Ratings: The Offered Certificates
except for the Class A4 Certificates shall have received Required
Ratings of "AAA" from each of Fitch and S&P, and the Class A4
Certificates shall have received Required Ratings of "AAA" from
Fitch and "AAAr" from S&P.
Section 5. Tax Treatment: One or more elections will be
made to treat the assets of the Trust Fund as a REMIC.
2
<PAGE>
If the foregoing is in accordance with your
understanding of our agreement, please sign and return to the
undersigned a counterpart hereof, whereupon this letter and your
acceptance shall represent a binding agreement between the
Underwriter and the Company.
Very truly yours,
SALOMON SMITH BARNEY INC.
By:_______________________________
Name:
Title:
The foregoing Agreement is
hereby confirmed and accepted
as of the date hereof.
GE CAPITAL MORTGAGE SERVICES, INC.
By:______________________________
Name:
Title:
EXECUTION
GE CAPITAL MORTGAGE SERVICES, INC.
PASS-THROUGH CERTIFICATES
(Issuable in Series)
UNDERWRITING AGREEMENT
Donaldson, Lufkin & Jenrette New York, New York
Securities Corporation March 21, 1996
277 Park Avenue
New York, New York 10172
Ladies and Gentlemen:
GE Capital Mortgage Services, Inc., a corporation
organized and existing under the laws of the State of New Jersey
(the "Company"), may offer for sale to you (the "Underwriter")
from time to time its Pass-Through Certificates evidencing
interests in pools of mortgage loans (the "Certificates"). The
Certificates may be issued in various series, and within each
series, in one or more classes, in one or more offerings on terms
determined at the time of sale (each such series, a "Series" and
each such class, a "Class"). Each Series of the Certificates will
be issued under a separate Pooling and Servicing Agreement (each,
a "Pooling and Servicing Agreement") to be dated as of the
respective cut-off date (each, a "Cut-off Date") between the
Company, as seller and servicer, and State Street Bank and Trust
Company, as trustee (the "Trustee"). Capitalized terms used but
not defined herein shall have the meanings given to them in the
related Pooling and Servicing Agreement.
The Certificates issued under each Pooling and
Servicing Agreement will represent the entire beneficial
ownership interest in a trust fund (the "Trust Fund") established
by such Pooling and Servicing Agreement. The assets of each Trust
Fund will consist primarily of a pool of conventional, fixed
rate, first lien, fully amortizing, one- to four-family
residential mortgage loans (the "Mortgage Loans") having the
original terms to maturity specified in the related Terms
Agreement referred to hereinbelow. If so specified in the related
Terms Agreement, one or more elections may be made to treat the
assets of each Trust Fund as a real estate mortgage investment
conduit (each, a "REMIC") for federal income tax purposes.
<PAGE>
Whenever the Company determines to make an offering of
Certificates (each, a "Certificate Offering") pursuant to this
Agreement through you, it will enter into an agreement with you
(the "Terms Agreement") providing for the sale of specified
Classes of Offered Certificates (as defined below) to, and the
purchase and public offering thereof by, you. Each such
Certificate Offering which the Company elects to make pursuant to
this Agreement shall be governed by this Agreement, as
supplemented by the related Terms Agreement. Each Terms
Agreement, which shall be substantially in the form of Exhibit A
hereto, shall specify, among other things, the Classes of
Certificates to be purchased by the Underwriter (the "Offered
Certificates"), the principal balance or balances of the Offered
Certificates, each subject to any stated variance, and the price
or prices at which such Offered Certificates are to be purchased
by the Underwriter from the Company.
1. Representations and Warranties. (a) The Company
represents and warrants to and agrees with the Underwriter, as of
the date of the related Terms Agreement, that:
(i) The registration statement specified
in the related Terms Agreement, on Form S-3, including
a prospectus, has been filed with the Securities and
Exchange Commission (the "Commission") for the
registration under the Securities Act of 1933, as
amended (the "Act"), of pass-through certificates
issuable in series, which registration statement has
been declared effective by the Commission. Such
registration statement, as amended to the date of the
related Terms Agreement, including any documents
incorporated by reference therein pursuant to Item 12
of Form S-3 under the Act which were filed under the
Securities Exchange Act of 1934, as amended (the
"Exchange Act"), on or before the effective date of
the Registration Statement, is hereinafter called the
"Registration Statement," and such prospectus, as such
prospectus is supplemented by a prospectus supplement
relating to the Offered Certificates of the related
Series, each in the form first filed after the date of
the related Terms Agreement pursuant to Rule 424(b)
under the Act, including any documents incorporated by
reference therein pursuant to Item 12 of Form S-3
under the Act which were filed under the Exchange Act
on or before the date of such Prospectus Supplement
(other than any such incorporated documents that
relate to Collateral Term Sheets (as defined herein))
(such prospectus supplement, including such
incorporated documents (other than those that relate
to Collateral Term Sheets), in the form first filed
after the date of the related Terms Agreement pursuant
to Rule 424(b) is
- 2 -
<PAGE>
hereinafter called the "Prospectus Supplement"), is
hereinafter called the "Prospectus". Any reference
herein to the terms "amend," "amendment" or
"supplement" with respect to the Registration
Statement, the Prospectus or the Prospectus Supplement
shall be deemed to refer to and include the filing of
any document under the Exchange Act after the
effective date of the Registration Statement or the
issue date of the Prospectus or Prospectus Supplement,
as the case may be, deemed to be incorporated therein
by reference pursuant to Item 12 of Form S-3 under the
Act.
(ii) The related Registration Statement,
at the time it became effective, and the prospectus
contained therein, and any amendments thereof and
supplements thereto filed prior to the date of the
related Terms Agreement, conformed in all material
respects to the requirements of the Act and the rules
and regulations of the Commission thereunder; on the
date of the related Terms Agreement and on each
Closing Date (as defined in Section 3 below), the
related Registration Statement and the related
Prospectus, and any amendments thereof and supplements
thereto, will conform in all material respects to the
requirements of the Act and the rules and regulations
of the Commission thereunder; such Registration
Statement, at the time it became effective, did not
contain any untrue statement of a material fact or
omit to state a material fact required to be stated
therein or necessary to make the statements therein
not misleading; such Prospectus, on the date of any
filing pursuant to Rule 424(b) and on each Closing
Date, will not include any untrue statement of a
material fact or omit to state a material fact
necessary to make the statements therein, in the light
of the circumstances under which they are made, not
misleading; and the Detailed Description referred to
in such Prospectus, on each Closing Date and the date
of any filing thereof under cover of Form 8-K, will
not include any untrue statement of a material fact or
omit to state any information which such Prospectus
states will be included in such Detailed Description;
provided, however, that the Company makes no
representations or warranties as to the information
contained in or omitted from (A) such Registration
Statement or such Prospectus (or any supplement
thereto) in reliance upon and in conformity with
written information furnished to the Company by or on
behalf of the Underwriter specifically for use in the
preparation thereof or (B) any Current Report (as
defined in Section 5(b) below), or in any amendment
thereof or supplement thereto, incorporated by
reference in such Registration Statement or such
- 3 -
<PAGE>
Prospectus (or any amendment thereof or supplement
thereto).
(iii) The Certificates of the related
Series will conform to the description thereof
contained in the related Prospectus; will each, if
rated at the time of issuance in one of the two
highest rating categories by a nationally recognized
statistical rating organization, be when issued a
"mortgage related security" as such term is defined in
Section 3(a)(41) of the Exchange Act, and will each on
the related Closing Date be duly and validly
authorized, and, when validly executed, countersigned,
issued and delivered in accordance with the related
Pooling and Servicing Agreement and sold to you as
provided herein and in the related Terms Agreement,
will each be validly issued and outstanding and
entitled to the benefits of the related Pooling and
Servicing Agreement.
(iv) Neither the issuance nor sale of the
Certificates of the related Series nor the
consummation of any other of the transactions herein
contemplated, nor the fulfillment of the terms hereof
or of the related Terms Agreement, will conflict with
any statute, order or regulation applicable to the
Company of any court, regulatory body, administrative
agency or governmental body having jurisdiction over
the Company or with any organizational document of the
Company or any instrument or any agreement under which
the Company is bound or to which it is a party.
(v) This Agreement and the related Terms
Agreement have been duly authorized, executed and
delivered by the Company.
(vi) At or prior to the related Closing
Date, the Company will have entered into the related
Pooling and Servicing Agreement and, assuming the due
authorization, execution and delivery thereof by the
Trustee, such Pooling and Servicing Agreement (on such
Closing Date) will constitute the valid and binding
agreement of the Company enforceable in accordance
with its terms, subject as to enforceability, to
bankruptcy, insolvency, reorganization or other
similar laws affecting creditors' rights and to
general principles of equity (regardless of whether
the enforceability of such Pooling and Servicing
Agreement is considered in a proceeding in equity or
at law).
2. Purchase and Sale. Subject to the execution of
the Terms Agreement for a particular Certificate Offering and
- 4 -
<PAGE>
subject to the terms and conditions and in reliance upon the
representations and warranties set forth in this Agreement and
such Terms Agreement, the Company agrees to sell to the
Underwriter, and the Underwriter agrees to purchase from the
Company, all, but not less than all, of the related Offered
Certificates at the purchase price therefor set forth in such
Terms Agreement (the "Purchase Price").
The parties hereto agree that settlement for all
securities sold pursuant to this Agreement and the applicable
Terms Agreement shall take place on the settlement date agreed
upon at the time of the related transaction and set forth as the
"Closing Date" in such Terms Agreement and not as set forth in
Rule 15c6-1(a) of the Exchange Act.
3. Delivery and Payment. Delivery of and payment for
the Offered Certificates of a Series shall be made at the offices
of Cleary, Gottlieb, Steen & Hamilton, New York, New York, at
10:00 A.M., New York City time, on the Closing Date specified in
the related Terms Agreement, which date and time may be postponed
by agreement between the Underwriter and the Company (such date
and time being herein called the "Closing Date"). Delivery of
such Offered Certificates shall be made to the Underwriter
against payment by the Underwriter of the Purchase Price thereof
to or upon the order of the Company by wire transfer in federal
or other immediately available funds or by check payable in
federal funds, as the Company shall specify no later than five
full business days prior to such Closing Date. Unless delivery is
made through the facilities of The Depository Trust Company, the
Offered Certificates shall be registered in such names and in
such authorized denominations as the Underwriter may request not
less than two full business days in advance of each Closing Date.
The Company agrees to notify the Underwriter at least
two business days before each Closing Date of the exact principal
balance evidenced by the Offered Certificates and to have such
Offered Certificates available for inspection, checking and
packaging in New York, New York, no later than 12:00 noon on the
business day prior to such Closing Date.
4. Offering by the Underwriter. It is understood that
the Underwriter proposes to offer the Offered Certificates of the
related Series for sale to the public as set forth in the related
Prospectus.
5. Agreements. The Company agrees with the
Underwriter that:
(a) The Company will cause the Prospectus as
supplemented by a Prospectus Supplement relating to the
Offered Certificates to be filed pursuant to Rule 424 under
the Act and will promptly advise the Underwriter when such
- 5 -
<PAGE>
Prospectus as so supplemented has been so filed, and prior
to the termination of the Certificate Offering to which
such Prospectus relates also will promptly advise the
Underwriter (i) when any amendment to the related
Registration Statement specifically relating to such
Offered Certificates shall have become effective or any
further supplement to such Prospectus has been filed, (ii)
of any request by the Commission for any amendment of such
Registration Statement or Prospectus or for any additional
information, (iii) of the issuance by the Commission of any
stop order suspending the effectiveness of such
Registration Statement or the institution or threatening of
any proceeding for that purpose and (iv) of the receipt by
the Company of any written notification with respect to the
suspension of the qualification of such Offered
Certificates for sale in any jurisdiction or the initiation
or threatening of any proceeding for such purpose. The
Company will not file any amendment of the related
Registration Statement or supplement to the related
Prospectus (other than any amendment or supplement
specifically relating to one or more Series of pass-through
certificates other than the Series that includes the
related Offered Certificates) unless the Company has
furnished the Underwriter with a copy for its review prior
to filing. The Company will use its best efforts to prevent
the issuance of any such stop order and, if issued, to
obtain as soon as possible the withdrawal thereof.
(b) The Company will cause any Computational
Materials and any Structural Term Sheets (each as defined
in Section 8 below) with respect to the Offered
Certificates of a Series that are delivered by the
Underwriter to the Company pursuant to Section 8 to be
filed with the Commission on a Current Report on Form 8-K
(a "Current Report") pursuant to Rule 13a-11 under the
Exchange Act on the business day immediately following the
later of (i) the day on which such Computational Materials
and Structural Term Sheets are delivered to counsel for the
Company by the Underwriter prior to 10:30 a.m. and (ii) the
date on which this Agreement is executed and delivered. The
Company will cause one Collateral Term Sheet (as defined in
Section 9 below) with respect to the Offered Certificates
of a Series that is delivered by the Underwriter to the
Company in accordance with the provisions of Section 9 to
be filed with the Commission on a Current Report pursuant
to Rule 13a-11 under the Exchange Act on the business day
immediately following the day on which such Collateral Term
Sheet is delivered to counsel for the Company by the
Underwriter prior to 10:30 a.m. In addition, if at any time
prior to the availability of the related Prospectus
Supplement the Underwriter has delivered to any prospective
investor a Collateral Term Sheet that reflects, in the
reasonable
- 6 -
<PAGE>
judgment of the Underwriter and the Company, a material
change in the characteristics of the Mortgage Loans for the
related Series from those on which a Collateral Term Sheet
with respect to the related Series previously filed with
the Commission was based, the Company will cause any such
Collateral Term Sheet that is delivered by the Underwriter
to the Company in accordance with the provisions of Section
9 to be filed with the Commission on a Current Report on
the business day immediately following the day on which
such Collateral Term Sheet is delivered to counsel for the
Company by the Underwriter prior to 10:30 a.m. In each
case, the Company will promptly advise the Underwriter when
such Current Report has been so filed. Each such Current
Report shall be incorporated by reference in the related
Prospectus and the related Registration Statement.
Notwithstanding the five preceding sentences, the Company
shall have no obligation to file any materials provided by
the Underwriter pursuant to Sections 8 and 9 which, in the
reasonable determination of the Company after making
reasonable efforts to consult with the Underwriter, are not
required to be filed pursuant to the Kidder Letters or the
PSA Letter (each as defined in Section 8 below), or which
contain erroneous information or contain any untrue
statement of a material fact or, when read in conjunction
with the Prospectus and Prospectus Supplement, omit to
state a material fact required to be stated therein or
necessary to make the statements therein not misleading; it
being understood, however, that the Company shall have no
obligation to review or pass upon the accuracy or adequacy
of, or to correct, any Computational Materials, Structural
Term Sheets or Collateral Term Sheets provided by the
Underwriter to the Company pursuant to Section 8 or Section
9 hereof.
(c) If, at any time when a prospectus relating to
the Offered Certificates of a Series is required to be
delivered under the Act, any event occurs as a result of
which the related Prospectus as then amended or
supplemented would include any untrue statement of a
material fact or omit to state any material fact necessary
to make the statements therein in light of the
circumstances under which they were made not misleading, or
if it shall be necessary at any time to amend or supplement
the related Prospectus to comply with the Act or the rules
thereunder, the Company promptly will prepare and file with
the Commission, subject to paragraph (a) of this Section 5,
an amendment or supplement which will correct such
statement or omission or an amendment which will effect
such compliance; provided, however, that the Company will
not be required to file any such amendment or supplement
with respect to any Computational Materials, Structural
Term Sheets or Collateral Term Sheets incorporated by
reference in the
- 7 -
<PAGE>
Prospectus other than any amendments or supplements of such
Computational Materials or Structural Term Sheets that are
furnished to the Company by the Underwriter pursuant to
Section 8(d) hereof or any amendments or supplements of
such Collateral Term Sheets that are furnished to the
Company by the Underwriter pursuant to Section 9(d) hereof
which the Company determines to file in accordance
therewith.
(d) The Company will furnish to the Underwriter
and counsel for the Underwriter, without charge, as many
signed copies of the related Registration Statement
(including exhibits thereto) and, so long as delivery of a
prospectus by the Underwriter or dealer may be required by
the Act, as many copies of the related Prospectus and any
supplements thereto (other than exhibits to the related
Current Report) as the Underwriter may reasonably request.
(e) The Company will furnish such information,
execute such instruments and take such actions as may be
reasonably requested by the Underwriter to qualify the
Offered Certificates of a Series for sale under the laws of
such jurisdictions as the Underwriter may designate, to
maintain such qualifications in effect so long as required
for the distribution of such Offered Certificates and to
determine the legality of such Offered Certificates for
purchase by institutional investors; provided, however,
that the Company shall not be required to qualify to do
business in any jurisdiction where it is not qualified on
the date of the related Terms Agreement or to take any
action which would subject it to general or unlimited
service of process in any jurisdiction in which it is not,
on the date of the related Terms Agreement, subject to such
service of process.
(f) So long as the Offered Certificates of a
Series are outstanding, the Company will furnish to the
Underwriter copies of the annual independent public
accountants' servicing report furnished to the Trustee
pursuant to Section 3.13 of the related Pooling and
Servicing Agreement.
(g) Whether or not the transactions contemplated
hereby and by the related Terms Agreement shall be
consummated, the Company shall be responsible for the
payment of any costs and expenses for which details are
submitted, in connection with the performance of its
obligations under this Agreement and the related Terms
Agreement, including, without limitation, (a) the cost and
expenses of printing or otherwise reproducing the related
Registration Statement or Prospectus, this Agreement, the
related Terms Agreement, the related Pooling and Servicing
Agreement and the Offered Certificates, and (b) the cost of
delivering the related Offered Certificates to the office
of
- 8 -
<PAGE>
the Underwriter, insured to the satisfaction of the
Underwriter (it being understood that, except as provided
in this paragraph (f) and in Section 7 hereof, the
Underwriter will pay all its own costs and expenses,
including the fees of Brown & Wood, counsel for the
Underwriter, transfer taxes on resale of any Offered
Certificates by it, advertising expenses connected with any
offers that it may make, the fees of KPMG Peat Marwick LLP
with respect to its letters furnished pursuant to Section
6(i) of the Agreement and any letter furnished pursuant to
the last sentence of Section 6(h) hereof and any other
costs and expenses specified in the related Terms Agreement
as "Additional Expenses").
6. Conditions to the Obligations of the Underwriter.
The obligations of the Underwriter to purchase the Offered
Certificates of any Series shall be subject to the accuracy in
all material respects of the representations and warranties on
the part of the Company contained in this Agreement, as
supplemented by the related Terms Agreement, as of the respective
dates thereof and the related Closing Date, to the accuracy of
the statements of the Company made in any applicable officers'
certificates pursuant to the provisions hereof, to the
performance by the Company of its obligations under this
Agreement and such Terms Agreement and to the following
additional conditions applicable to the related Certificate
Offering:
(a) No stop order suspending the effectiveness of
the related Registration Statement shall have been issued
and no proceedings for that purpose shall have been
instituted or threatened.
(b) Cleary, Gottlieb, Steen & Hamilton, counsel
for the Company, shall have furnished to the Underwriter an
opinion, dated the related Closing Date, to the effect
that:
(i) this Agreement and the related Terms
Agreement have been duly executed and delivered by the
Company under the law of the State of New York;
(ii) the related Pooling and Servicing
Agreement has been duly executed and delivered by the
Company under the law of the State of New York and is
a legal, valid and binding agreement of the Company
enforceable against the Company in accordance with its
terms;
(iii) the Offered Certificates, when duly
executed and countersigned by the Trustee in
accordance with the related Pooling and Servicing
Agreement, will be validly issued and outstanding and
entitled to the benefits of such Pooling and Servicing
Agreement;
- 9 -
<PAGE>
(iv) the related Pooling and Servicing
Agreement is not required to be qualified under the
Trust Indenture Act of 1939, as amended, and the trust
created thereunder is not required to be registered
under the Investment Company Act of 1940, as amended;
(v) such counsel confirms that (based
solely upon telephone confirmation from a
representative of the Commission) the related
Registration Statement is effective under the Act and,
to the best of such counsel's knowledge, no stop order
with respect thereto has been issued, and no
proceeding for that purpose has been instituted or
threatened by the Commission; such Registration
Statement (except the financial statements and
schedules and other financial and statistical data
included therein and the documents incorporated by
reference therein, as to which such counsel need
express no view), at the time it became effective and
the related Prospectus (except the financial
statements and schedules and the other financial and
statistical data included therein, the documents
incorporated by reference therein and the information
included in the second sentence of the antepenultimate
paragraph, the first sentence of the penultimate
paragraph, and the last paragraph of the cover page of
such Prospectus Supplement and in the second and
fourth sentences of the first paragraph under the
heading "Plan of Distribution" therein, as to which
such counsel need express no view), as of the date of
the Prospectus Supplement appeared on their face to be
appropriately responsive in all material respects to
the requirements of the Act and the rules and
regulations thereunder; and no information has come to
the attention of such counsel that causes it to
believe that (A) such Registration Statement (except
the financial statements and schedules and the other
financial and statistical data included therein and
the documents incorporated by reference therein, as to
which such counsel need express no view) at the time
it became effective, contained an untrue statement of
a material fact or omitted to state a material fact
required to be stated therein or necessary to make the
statements therein not misleading or (B) such
Prospectus or any amendment or supplement thereto
(except the financial statements and schedules and the
other financial and statistical data included therein,
the documents incorporated by reference therein and
the information included in the second sentence of the
antepenultimate paragraph, the first sentence of the
penultimate paragraph, and the last paragraph of the
cover page of such Prospectus Supplement and in the
second and fourth sentences of the first paragraph
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<PAGE>
under the heading "Plan of Distribution" therein, as
to which such counsel need express no view), as of the
date of the Prospectus Supplement, or at the related
Closing Date, contained or contains an untrue
statement of a material fact or omitted or omits to
state a material fact necessary in order to make the
statements therein, in the light of the circumstances
under which they were made, not misleading;
(vi) the statements set forth under the
heading "Description of the Certificates" in the
related Prospectus, insofar as such statements purport
to summarize certain provisions of the related Pooling
and Servicing Agreement and the related Offered
Certificates, provide a fair summary of such
provisions;
(vii) the statements set forth in the
related Prospectus under the headings "Certain Legal
Aspects of the Mortgage Loans and Contracts -- The
Mortgage Loans", "Certain Federal Income Tax
Consequences" (insofar as they relate specifically to
the purchase, ownership and disposition of the related
Offered Certificates) and "ERISA Considerations"
(insofar as they relate specifically to the purchase,
ownership and disposition of such Offered
Certificates), to the extent that they constitute
matters of law or legal conclusions, provide a fair
summary of such law or conclusions;
(viii) assuming compliance with all
provisions of the related Pooling and Servicing
Agreement, for federal income tax purposes, (A) if any
election is made to treat the assets of the Trust Fund
as a REMIC: the related Trust Fund (and any specified
subgrouping therein) will qualify as a REMIC pursuant
to Section 860D of the Internal Revenue Code of 1986,
as amended (the "Code"), each Class of Certificates of
the related Series, other than the related Residual
Class or Classes, will constitute a class of "regular
interests" in the related REMIC within the meaning of
the Code, and each Class of such Certificates
specified in the related Prospectus as a Class of
Residual Certificates will constitute the "residual
interest" in the related REMIC within the meaning of
the Code; (B) if no such REMIC election is made: the
Trust Fund will be treated as a "grantor trust"; and
(ix) assuming that some or all of the
Offered Certificates of the related Series shall be
rated at the time of issuance in one of the two
highest rating categories by a nationally recognized
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<PAGE>
statistical rating organization, each Offered
Certificate so rated will be at the time of issuance,
a "mortgage related security" as such term is defined
in Section 3(a)(41) of the Exchange Act.
Such opinion may express its reliance as to factual matters
on the representations and warranties made by, and on
certificates or other documents furnished by, officers of
the parties to this Agreement, the related Terms Agreement
or the related Pooling and Servicing Agreement. Such
opinion may assume the due authorization, execution and
delivery of the instruments and documents referred to
therein by the parties thereto other than the Company. Such
opinion may be qualified, insofar as it concerns the
enforceability of the documents referred to therein, to the
extent that such enforceability may be limited by
bankruptcy, insolvency, reorganization or other similar
laws affecting the enforcement of creditors' rights in
general and by general equity principles (regardless of
whether such enforcement is considered in a proceeding in
equity or at law). Such opinion may be further qualified as
expressing no opinion as to (x) the statements in the
related Prospectus under the heading "Certain Legal Aspects
of the Mortgage Loans and Contracts -- The Mortgage Loans"
except insofar as such statements relate to the laws of the
State of New York and the laws of the United States, and
(y) the statements in such Prospectus under the headings
"ERISA Considerations" and "Certain Federal Income Tax
Consequences" except insofar as such statements relate to
the laws of the United States. In addition, such opinion
may be qualified as an opinion only on the laws of the
State of New York and the federal laws of the United States
of America.
(c) The General Counsel for the Company shall
have furnished to the Underwriter an opinion, dated the
related Closing Date, to the effect that:
(i) The Company has been duly
incorporated and is validly existing as a corporation
in good standing under the laws of the State of New
Jersey, with corporate power to own its properties, to
conduct its business as described in the related
Prospectus and to enter into and perform its
obligations under this Agreement, the related Terms
Agreement, the related Pooling and Servicing Agreement
and the Certificates of the related Series;
(ii) The Company has full power and
authority to sell and service the related Mortgage
Loans as contemplated herein and in the related
Pooling and Servicing Agreement;
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(iii) No consent, approval, authorization
or order of any court or governmental agency or body
is required for the consummation by the Company of the
transactions contemplated herein or in the related
Pooling and Servicing Agreement, except such as may be
required under the blue sky laws of any jurisdiction
and such other approvals as have been obtained;
(iv) Neither the issuance of the
Certificates of the related Series nor delivery of the
related Offered Certificates, nor the consummation of
any other of the transactions contemplated in this
Agreement, the related Terms Agreement or the related
Pooling and Servicing Agreement, nor the fulfillment
of the terms of the related Certificates, the related
Pooling and Servicing Agreement, this Agreement or the
related Terms Agreement will conflict with or violate
any term or provision of the articles of incorporation
or by-laws of the Company or any statute, order or
regulation applicable to the Company of any court,
regulatory body, administrative agency or governmental
body having jurisdiction over the Company and will not
conflict with, result in a breach or violation or the
acceleration of or constitute a default under the
terms of any indenture or other agreement or
instrument known to such counsel to which the Company
is a party or by which it is bound; and
(v) There are no actions, proceedings or
investigations pending or, to the best knowledge of
such counsel, threatened before any court,
administrative agency or other tribunal (i) asserting
the invalidity of this Agreement, the related Terms
Agreement, the related Pooling and Servicing Agreement
or the related Certificates, (ii) seeking to prevent
the issuance of the Certificates of the related Series
or the consummation by the Company of any of the
transactions contemplated by this Agreement, such
Terms Agreement or such Pooling and Servicing
Agreement, or (iii) which might materially and
adversely affect the performance by the Company of its
obligations under, or the validity or enforceability
of, this Agreement, such Terms Agreement, such Pooling
and Servicing Agreement or the related Certificates.
In rendering her opinion such counsel may rely as to
matters of fact, to the extent deemed proper and as stated
therein, on certificates of responsible officers of the
Company or public officials. In addition, such opinion may
be qualified as an opinion only on the laws of the State of
New Jersey.
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<PAGE>
(d) The Underwriter shall have received from
Brown & Wood, counsel for the Underwriter, such opinion or
opinions, dated the related Closing Date, with respect to
the issuance and sale of the Certificates of the related
Series, the related Registration Statement, the related
Prospectus and such other related matters as the
Underwriter may reasonably require, and the Company shall
have furnished to such counsel such documents as the
Underwriter may reasonably request for the purpose of
enabling them to pass upon such matters.
(e) The Company shall have furnished to the
Underwriter a certificate of the Company, signed by the
President or any Vice President and the Senior Vice
President-Finance or the principal financial or accounting
officer of the Company, dated the related Closing Date, to
the effect that the signers of such certificate have
carefully examined the related Registration Statement
(excluding any Current Reports and any other documents
incorporated by reference therein), the related Prospectus,
the Detailed Description referred to in such Prospectus
(excluding any related Current Report), this Agreement and
the related Terms Agreement and that:
(i) the representations and warranties of
the Company in this Agreement are true and correct in
all material respects on and as of the related Closing
Date with the same effect as if made on such Closing
Date, and the Company has complied with all the
agreements and satisfied all the conditions on its
part to be performed or satisfied at or prior to such
Closing Date;
(ii) no stop order suspending the
effectiveness of such Registration Statement has been
issued and no proceedings for that purpose have been
instituted or, to their knowledge, threatened; and
(iii) nothing has come to their attention
that would lead them to believe that such Registration
Statement (excluding any Current Report) contains any
untrue statement of a material fact or omits to state
any material fact required to be stated therein or
necessary to make the statements therein not
misleading, that the related Prospectus (excluding any
related Current Report) contains any untrue statement
of a material fact or omits to state a material fact
required to be stated therein or necessary to make the
statements therein, in the light of the circumstances
under which they were made, not misleading, or that
the Detailed Description referred to in such
Prospectus includes any untrue statement of a material
fact or
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<PAGE>
omits to state any information which the Prospectus
states will be included in such Detailed Description.
(f) Peabody & Arnold, counsel for the Trustee,
shall have furnished to the Underwriter an opinion, dated
the related Closing Date, to the effect that:
(i) the Trustee has been duly
incorporated and is validly existing as a corporation
in good standing under the laws of the Commonwealth of
Massachusetts with corporate power to own its
properties and conduct its business as presently
conducted by it, to conduct business as a trustee and
to enter into and perform its obligations under the
related Pooling and Servicing Agreement;
(ii) the related Pooling and Servicing
Agreement has been duly authorized, executed and
delivered by the Trustee and constitutes the legal,
valid and binding agreement of the Trustee enforceable
against the Trustee in accordance with its terms,
subject to bankruptcy, insolvency, fraudulent
conveyance, reorganization or other similar laws
affecting the enforcement of creditors' rights
generally and to judicial discretion, and general
principles of equity (regardless of whether
enforcement is sought in a proceeding in equity or at
law);
(iii) the Trustee has duly accepted its
appointment as trustee under the related Pooling and
Servicing Agreement;
(iv) no consent, approval, authorization
or order of any Massachusetts or federal court or
government agency or body is required on the part of
the Trustee for the consummation of the transactions
contemplated in the related Pooling and Servicing
Agreement, except such as may be required under any
federal or state securities law; and
(v) the performance on the part of the
Trustee of any of the transactions contemplated in the
related Pooling and Servicing Agreement does not
conflict with or result in a breach or violation of
any term or provision of, or constitute a default
under, the Articles of Organization, as amended, or
By-Laws of the Trustee, or any Massachusetts or
federal statute or regulation applicable to the
Trustee, or to such counsel's knowledge, any indenture
or other agreement or instrument to which the Trustee
is a party or by which it is bound, or, to such
counsel's knowledge, any order of any state or federal
court, regulatory body,
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<PAGE>
administrative agency or governmental body having
jurisdiction over the Trustee.
In addition, such counsel shall furnish to the Underwriter
such opinions as to the treatment of the Trust Fund for
purposes of Massachusetts tax law as are reasonably
satisfactory to the Underwriter.
(g) KPMG Peat Marwick LLP shall have furnished to
the Underwriter a letter, dated as of the date of the
related Terms Agreement, in form and substance satisfactory
to the Underwriter, stating in effect that they have
performed certain specified procedures as a result of which
they have determined that such information as the
Underwriter may reasonably request of an accounting,
financial or statistical nature (which is limited to
accounting, financial or statistical information derived
from the general accounting records of the Company) set
forth in the related Prospectus Supplement under the
caption "Delinquency and Foreclosure Experience of the
Company" agrees with the accounting records of the Company,
excluding any questions of legal interpretation.
(h) KPMG Peat Marwick LLP shall have furnished to
the Underwriter a letter, dated as of the related Closing
Date, in form and substance satisfactory to the
Underwriter, stating in effect that they have performed
certain specified procedures as a result of which they have
determined that such information as the Underwriter may
reasonably request of an accounting, financial or
statistical nature (which is limited to accounting,
financial or statistical information derived from the
general accounting records of the Company and which is
obtained from an analysis of a sample of the Mortgage Loans
included in the related pool) set forth in the related
Prospectus Supplement under the caption "Description of the
Mortgage Pool and the Mortgaged Properties" or "Description
of the Mortgage Pools and the Mortgaged Properties", as the
case may be, and in the Detailed Description relating to
such Prospectus Supplement is mutually consistent and
agrees with the accounting records of the Company and,
where applicable, the related Mortgage Loan files of the
Company, excluding any questions of legal interpretation.
In addition, if applicable, such accountants shall have
furnished to the Underwriter a letter, dated as of the
related Closing Date, which shall include a statement or
statements to the effect that based upon the assumptions
and methodology agreed to by the Company (and which is
consistent with the manner in which any final PAC Balances,
TAC Balances, Scheduled Balances, Maximum and Minimum
Scheduled Balances or any other scheduled balances are to
be calculated as set forth in the related Prospectus), all
of which shall be described by
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<PAGE>
reference in such letter, such accountants shall have
verified the mathematical accuracy of any final PAC
Balances Table, TAC Balances Table, Scheduled Balances
Table, Maximum or Minimum Scheduled Balances Table or other
scheduled balances table attached as an exhibit to the
related Pooling
and Servicing Agreement.
(i) KPMG Peat Marwick LLP shall have furnished to
the Underwriter and the Company a letter or letters, dated
as of the date of the related Terms Agreement, in form and
substance satisfactory to the Underwriter and the Company,
including, without limitation, statements, if applicable,
to the effect that:
(i) based upon the assumptions and
methodology set forth in the related Prospectus, all
of which shall be described by reference in such
letter, they recomputed the percentages of initial
principal balance outstanding as of each of the
Distribution Dates (as defined in such Prospectus)
indicated and the weighted average lives of each Class
of Offered Certificates at each of the indicated
percentages of the applicable Prepayment Assumption,
and they compared the recomputed percentages and
weighted average lives to the corresponding
percentages and weighted average lives set forth in
the related tables and found them to be in agreement;
(ii) based upon the assumptions and
methodology set forth in such Prospectus, all of which
shall be described by reference in such letter, they
have verified the mathematical accuracy of any
Scheduled Final Distribution Dates for the Offered
Certificates, PAC Balances, TAC Balances, Scheduled
Balances, Maximum and Minimum Scheduled Balances or
any other scheduled balances set forth in such
Prospectus for each indicated Distribution Date, and
have verified the mathematical accuracy of any initial
Effective Ranges of any PAC Certificates, Scheduled
Certificates or other scheduled Certificates set forth
in such Prospectus; and
(iii) based upon the assumptions and
methodology set forth in such Prospectus, all of which
shall be described by reference in such letter, they
have verified the mathematical accuracy of the pre-tax
yields to maturity and, if applicable, aggregate cash
flows of any Class of Certificates for which such
pre-tax yields and, if applicable, aggregate cash
flows are set forth in such Prospectus at the
indicated percentages of the Prepayment Assumption
and, if
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<PAGE>
applicable, at the indicated values of COFI, LIBOR or
any other index, as applicable.
(j) The Offered Certificates of the related
Series shall have received the ratings specified in the
related Terms Agreement (the "Required Ratings").
(k) Prior to the related Closing Date, the
Company shall have furnished to the Underwriter such
further information, certificates and documents as the
Underwriter may reasonably request.
(l) If any Certificates of the related Series are
to be sold to any other underwriter and/or offered in
reliance upon an exemption from the registration
requirements of the Act, the sale at or prior to the
related Closing Date of such Certificates to the purchaser
thereof shall have occurred.
(m) Subsequent to the date of the related Terms
Agreement, there shall not have been any change, or any
development involving a prospective change, in or affecting
the business or properties of the Company which the
Underwriter concludes in its judgment, after consultation
with the Company, materially impairs the investment quality
of the Offered Certificates of the related Series so as to
make it impractical or inadvisable to proceed with the
public offering or the delivery of such Offered
Certificates as contemplated by the related Prospectus.
If any of the conditions specified in this Section 6
shall not have been fulfilled in all material respects with
respect to the particular Offered Certificates of a Series when
and as provided in this Agreement and the related Terms
Agreement, or if any of the opinions and certificates mentioned
above or elsewhere in this Agreement and the related Terms
Agreement shall not be in all material respects reasonably
satisfactory in form and substance to the Underwriter and its
counsel, this Agreement (with respect to the related Offered
Certificates) and the related Terms Agreement and all obligations
of the Underwriter hereunder (with respect to the related Offered
Certificates) and thereunder may be canceled at, or at any time
prior to, the related Closing Date by the Underwriter. Notice of
such cancellation shall be given to the Company in writing, or by
telephone or telegraph confirmed in writing.
7. Indemnification and Contribution. (a) The Company
agrees to indemnify and hold harmless the Underwriter and each
person who controls the Underwriter within the meaning of the Act
or the Exchange Act against any and all losses, claims, damages
or liabilities, joint or several, to which they or any of them
may become subject under the Act, the Exchange Act, or other
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<PAGE>
Federal or state statutory law or regulation, at common law or
otherwise, insofar as such losses, claims, damages or liabilities
(or actions in respect thereof) arise out of or are based upon
any untrue statement or alleged untrue statement of a material
fact contained in the Registration Statement relating to the
Offered Certificates of the applicable Series as it became
effective or in any amendment or supplement thereof, or in such
Registration Statement or the related Prospectus, or in any
amendment thereof, or in the Detailed Description referred to in
such Prospectus or arise out of or are based upon the omission or
alleged omission (in the case of any Computational Materials and
ABS Term Sheets (as defined in Section 9 below) in respect of
which the Company agrees to indemnify the Underwriter, as set
forth below, when such are read in conjunction with the related
Prospectus and Prospectus Supplement) to state therein a material
fact required to be stated therein or necessary to make the
statements therein not misleading, and agrees to reimburse each
such indemnified party for any legal or other expenses reasonably
incurred by them in connection with investigating or defending
any such loss, claim, damage, liability or action; provided,
however, that (i) the Company will not be liable in any such case
to the extent that any such loss, claim, damage or liability
arises out of or is based upon any such untrue statement or
alleged untrue statement or omission or alleged omission made
therein (A) in reliance upon and in conformity with written
information furnished to the Company as herein stated by or on
behalf of the Underwriter specifically for use in connection with
the preparation thereof or (B) in any Current Report or any
amendment or supplement thereof, except to the extent that any
untrue statement or alleged untrue statement therein or omission
therefrom results (or is alleged to have resulted) directly from
an error (a "Mortgage Pool Error") in the information concerning
the characteristics of the Mortgage Loans furnished by the
Company to the Underwriter in writing or by electronic
transmission that was used in the preparation of either (x) any
Computational Materials or ABS Term Sheets (or amendments or
supplements thereof) included in such Current Report (or
amendment or supplement thereof) or (y) any written or electronic
materials furnished to prospective investors on which the
Computational Materials (or amendments or supplements) were
based, (ii) such indemnity with respect to any Corrected
Statement (as defined below) in such Prospectus (or supplement
thereto) shall not inure to the benefit of the Underwriter (or
any person controlling the Underwriter) from whom the person
asserting any loss, claim, damage or liability purchased the
Certificates of the related Series that are the subject thereof
if such person did not receive a copy of a supplement to such
Prospectus at or prior to the confirmation of the sale of such
Certificates and the untrue statement or omission of a material
fact contained in such Prospectus (or supplement thereto) was
corrected (a "Corrected Statement") in such other supplement and
such supplement was furnished by the Company to the Underwriter
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<PAGE>
prior to the delivery of such confirmation, and (iii) such
indemnity with respect to any Mortgage Pool Error shall not inure
to the benefit of the Underwriter (or any person controlling the
Underwriter) from whom the person asserting any loss, claim,
damage or liability received any Computational Materials or ABS
Term Sheets (or any written or electronic materials on which the
Computational Materials are based) that were prepared on the
basis of such Mortgage Pool Error, if, prior to the time of
confirmation of the sale of the applicable Certificates to such
person, the Company notified the Underwriter in writing of the
Mortgage Pool Error or provided in written or electronic form
information superseding or correcting such Mortgage Pool Error
(in any such case, a "Corrected Mortgage Pool Error"), and the
Underwriter failed to notify such person thereof or to deliver to
such person corrected Computational Materials (or underlying
written or electronic materials) or ABS Term Sheets. This
indemnity agreement will be in addition to any liability which
the Company may otherwise have.
(b) The Underwriter agrees to indemnify and hold
harmless the Company, each of its directors, each of its officers
who signs the Registration Statement relating to the Offered
Certificates of the applicable Series, and each person who
controls the Company within the meaning of the Act or the
Exchange Act to the same extent as the foregoing indemnities from
the Company to the Underwriter, but only with reference to (A)
written information furnished to the Company by or on behalf of
the Underwriter specifically for use in the preparation of the
documents referred to in the foregoing indemnity with respect to
the related Series, or (B) any Computational Materials or ABS
Term Sheets (or amendments or supplements thereof) furnished to
the Company by the Underwriter pursuant to Section 8 or Section 9
and incorporated by reference in such Registration Statement or
the related Prospectus or any amendment or supplement thereof
(except that no such indemnity shall be available for any losses,
claims, damages or liabilities, or actions in respect thereof
resulting from any Mortgage Pool Error, other than a Corrected
Mortgage Pool Error). This indemnity agreement will be in
addition to any liability which the Underwriter may otherwise
have. The Company acknowledges that the statements set forth in
the second sentence of the ante-penultimate paragraph, the first
sentence of the penultimate paragraph, and in the last paragraph
appearing on the cover page of the related Prospectus Supplement
as such statements relate to such Offered Certificates and the
second sentence of the first paragraph under the heading "Plan of
Distribution" in such Prospectus Supplement as such statements
relate to such Offered Certificates constitute the only
information furnished in writing by or on behalf of the
Underwriter for inclusion in the related Prospectus (other than
any Computational Materials or ABS Term Sheets (or amendments or
supplements thereof) furnished to the Company by the
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<PAGE>
Underwriter), and the Underwriter confirms that such statements
are correct.
(c) Promptly after receipt by an indemnified party
under Section 7 of notice of the commencement of any action, such
indemnified party will, if a claim in respect thereof is to be
made against the indemnifying party under this Section 7, notify
the indemnifying party in writing of the commencement thereof;
but the omission so to notify the indemnifying party will not
relieve it from any liability which it may have to any
indemnified party otherwise than under this Section 7. In case
any such action is brought against any indemnified party, and it
notifies the indemnifying party of the commencement thereof, the
indemnifying party will be entitled to participate therein, and
to the extent that it may elect by written notice delivered to
the indemnified party promptly after receiving the aforesaid
notice from such indemnified party, to assume the defense
thereof, with counsel satisfactory to such indemnified party;
provided, however, that if the defendants in any such action
include both the indemnified party and the indemnifying party and
the indemnified party shall have reasonably concluded that there
may be legal defenses available to it and/or other indemnified
parties which are different from or additional to those available
to the indemnifying party, the indemnified party or parties shall
have the right to select separate counsel to assert such legal
defenses and to otherwise participate in the defense of such
action on behalf of such indemnified party or parties. Upon
receipt of notice from the indemnifying party to such indemnified
party of its election so to assume the defense of such action and
approval by the indemnified party of counsel, the indemnifying
party will not be liable to such indemnified party under this
Section 7 for any legal or other expenses subsequently incurred
by such indemnified party in connection with the defense thereof
unless (i) the indemnified party shall have employed separate
counsel in connection with the assertion of legal defenses in
accordance with the proviso to the next preceding sentence (it
being understood, however, that the indemnifying party shall not
be liable for the expenses of more than one separate counsel
approved by the indemnified party in the case of subparagraph (a)
or (b), representing the indemnified parties under subparagraph
(a) or (b), who are parties to such action), (ii) the
indemnifying party shall not have employed counsel satisfactory
to the indemnified party to represent the indemnified party
within a reasonable time after notice of commencement of the
action or (iii) the indemnifying party has authorized the
employment of counsel for the indemnified party at the expense of
the indemnifying party; and except that, if clause (i) or (iii)
is applicable, such liability shall be only in respect of the
counsel referred to in such clause (i) or (iii).
(d) If the indemnification provided for in paragraph
(a) or (b) of this Section 7 is due in accordance with its terms
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<PAGE>
but is for any reason held by a court to be unavailable from the
Company or the Underwriter, on grounds of policy or otherwise, or
if the indemnified party failed to give notice under paragraph
(c) of this Section 7 in respect of a claim otherwise subject to
indemnification in accordance with paragraph (a) or (b) of this
Section 7, the Company and the Underwriter shall contribute to
the aggregate losses, claims, damages and liabilities (including
legal and other expenses reasonably incurred in connection with
investigating or defending same) to which the Company and the
Underwriter may be subject, as follows:
(i) in the case of any losses, claims, damages and
liabilities (or actions in respect thereof) which do not
arise out of or are not based upon any untrue statement or
omission of a material fact in any Computational Materials
or ABS Term Sheets (or any amendments or supplements
thereof), in such proportion so that the Underwriter is
responsible for that portion represented by the difference
between the proceeds to the Company in respect of the
Offered Certificates appearing on the cover page of the
Prospectus Supplement for the related Series and the total
proceeds received by the Underwriter from the sale of such
Offered Certificates (the "Underwriting Discount"), and the
Company is responsible for the balance; provided, however,
that in no case shall the Underwriter be responsible under
this subparagraph (i) for any amount in excess of such
Underwriting Discount applicable to the Offered
Certificates purchased by the Underwriter pursuant to this
Agreement and the related Terms Agreement; and
(ii) in the case of any losses, claims, damages and
liabilities (or actions in respect thereof) which arise out
of or are based upon any untrue statement or omission of a
material fact in any Computational Materials or ABS Term
Sheets (or any amendments or supplements thereof) or in any
written or electronic materials on which the Computational
Materials are based, in such proportion as is appropriate
to reflect the relative fault of the Company on the one
hand and the Underwriter on the other in connection with
the statements or omissions which resulted in such losses,
claims, damages or liabilities (or actions in respect
thereof) as well as any other relevant equitable
considerations. The relative fault shall be determined by
reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission
or alleged omission to state a material fact in such
Computational Materials or ABS Term Sheets (or any
amendments or supplements thereof or such written or
electronic materials) results from information prepared by
the Company on the one hand or the Underwriter on the other
and the parties' relative intent, knowledge, access to
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<PAGE>
information and opportunity to correct or prevent such
statement or omission.
Notwithstanding anything to the contrary in this Section 7(d), no
person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Act) shall be entitled to contribution
from any person who was not guilty of such fraudulent
misrepresentation. For purposes of this Section 7, each person
who controls the Underwriter within the meaning of either the Act
or the Exchange Act shall have the same rights to contribution as
the Underwriter, and each person who controls the Company within
the meaning of either the Act or the Exchange Act, each officer
of the Company who shall have signed the Registration Statement
and each director of the Company shall have the same rights to
contribution as the Company, subject in each case to the
immediately preceding sentence of this paragraph (d).
8. Computational Materials and Structural Term Sheets.
(a) Not later than 10:30 a.m., New York time, on the business day
before the date on which the Current Report relating to the
Offered Certificates of a Series is required to be filed by the
Company with the Commission pursuant to Section 5(b) hereof, the
Underwriter shall deliver to the Company five complete copies of
all materials provided by the Underwriter to prospective
investors in such Offered Certificates which constitute (i)
"Computational Materials" within the meaning of the no-action
letter dated May 20, 1994 issued by the Division of Corporation
Finance of the Commission to Kidder, Peabody Acceptance
Corporation I, Kidder, Peabody & Co. Incorporated, and Kidder
Structured Asset Corporation and the no-action letter dated May
27, 1994 issued by the Division of Corporation Finance of the
Commission to the Public Securities Association (together, the
"Kidder Letters"), the filing of which material is a condition of
the relief granted in such letter (such materials being the
"Computational Materials"), and (ii) "Structural Term Sheets"
within the meaning of the no-action letter dated February 17,
1995 issued by the Division of Corporation Finance of the
Commission to the Public Securities Association (the "PSA
Letter"), the filing of which material is a condition of the
relief granted in such letter (such materials being the
"Structural Term Sheets"). Each delivery of Computational
Materials and Structural Term Sheets to the Company pursuant to
this paragraph (a) shall be effected by delivering four copies of
such materials to counsel for the Company on behalf of the
Company at the address specified in Section 3 hereof and one copy
of such materials to the Company.
(b) The Underwriter represents and warrants to and
agrees with the Company, as of the date of the related Terms
Agreement and as of the Closing Date, that:
- 23 -
<PAGE>
(i) the Computational Materials furnished to the
Company pursuant to Section 8(a) constitute (either in
original, aggregated or consolidated form) all of the
materials furnished to prospective investors by the
Underwriter prior to the time of delivery thereof to
the Company that are required to be filed with the
Commission with respect to the related Offered
Certificates in accordance with the Kidder Letters,
and such Computational Materials comply with the
requirements of the Kidder Letters;
(ii) the Structural Term Sheets furnished to the
Company pursuant to Section 8(a) constitute all of the
materials furnished to prospective investors by the
Underwriter prior to the time of delivery thereof to
the Company that are required to be filed with the
Commission as "Structural Term Sheets" with respect to
the related Offered Certificates in accordance with
the PSA Letter, and such Structural Term Sheets comply
with the requirements of the PSA Letter;
(iii) on the date any such Computational Materials
or Structural Term Sheets with respect to such Offered
Certificates (or any written or electronic materials
furnished to prospective investors on which the
Computational Materials are based) were last furnished
to each prospective investor and on the date of
delivery thereof to the Company pursuant to Section
8(a) and on the related Closing Date, such
Computational Materials (or such other materials) or
Structural Term Sheets did not and will not include
any untrue statement of a material fact or, when read
in conjunction with the related Prospectus and
Prospectus Supplement, omit to state a material fact
required to be stated therein or necessary to make the
statements therein not misleading;
(iv) the Underwriter has not represented to any
prospective investor that any Computational Materials
or Structural Term Sheets with respect to any Series
were prepared or disseminated on behalf of the
Company, and, from and after January 26, 1996, all
Computational Materials and Structural Term Sheets
furnished to prospective investors (and all written
and electronic materials furnished to prospective
investors on which the Computational Materials are
based) included a disclaimer to the effect set forth
in Section 8(c); and
(v) at the time any Computational Materials (or
any written or electronic materials furnished to
prospective investors on which the Computational
Materials are based) with respect to such Offered
- 24 -
<PAGE>
Certificates were furnished to a prospective investor
and on the date of the related Terms Agreement, the
Underwriter possessed, and on the date of delivery of
such materials to the Company pursuant to this Section
8 and on the related Closing Date, the Underwriter
will possess, the capability, knowledge, expertise,
resources and systems of internal control necessary to
ensure that such Computational Materials conform to
the representations and warranties of the Underwriter
contained in subparagraphs (i) and (iii) above of this
paragraph (b).
Notwithstanding the foregoing, the Underwriter makes no
representation or warranty as to whether any Computational
Materials or Structural Term Sheets (or any written or electronic
materials on which the Computational Materials are based)
included or will include any untrue statement resulting directly
from any Mortgage Pool Error (except any Corrected Mortgage Pool
Error, with respect to materials prepared after the receipt by
the Underwriter from the Company of notice of such Corrected
Mortgage Pool Error or materials superseding or correcting such
Corrected Mortgage Pool Error).
(c) The Underwriter acknowledges and agrees that the
Company has not authorized and will not authorize the
distribution of any Computational Materials (or any written or
electronic materials on which the Computational Materials are
based) or Structural Term Sheets to any prospective investor, and
agrees that any Computational Materials or Structural Term Sheets
with respect to any Series of Certificates furnished to
prospective investors from and after the date hereof shall
include a disclaimer in form satisfactory to the Company to the
effect that such materials have been prepared and disseminated
solely by and on behalf of the Underwriter, and that the Company
has not reviewed or participated in the preparation or
dissemination of such materials and is not responsible for the
contents or accuracy thereof. The Underwriter agrees that it will
not represent to prospective investors that any Computational
Materials or Structural Term Sheets were prepared or disseminated
on behalf of the Company.
(d) If, at any time when a prospectus relating to the
Offered Certificates of a Series is required to be delivered
under the Act, it shall be necessary to amend or supplement the
related Prospectus as a result of an untrue statement of a
material fact contained in any Computational Materials or
Structural Term Sheets provided by the Underwriter pursuant to
this Section 8 or the omission to state therein a material fact
required, when considered in conjunction with the related
Prospectus and Prospectus Supplement, to be stated therein or
necessary to make the statements therein, when read in
conjunction with the related Prospectus and Prospectus
- 25 -
<PAGE>
Supplement, not misleading, or if it shall be necessary to amend
or supplement any Current Report relating to any Computational
Materials or Structural Term Sheets to comply with the Act or the
rules thereunder, the Underwriter promptly will prepare and
furnish to the Company for filing with the Commission an
amendment or supplement which will correct such statement or
omission or an amendment which will effect such compliance. The
Underwriter represents and warrants to the Company, as of the
date of delivery of such amendment or supplement to the Company,
that such amendment or supplement will not include any untrue
statement of a material fact or, when read in conjunction with
the related Prospectus and Prospectus Supplement, omit to state a
material fact required to be stated therein or necessary to make
the statements therein not misleading. The Company shall have no
obligation to file such amendment or supplement if the Company
determines that (i) such amendment or supplement contains any
untrue statement of a material fact or, when read in conjunction
with the related Prospectus and Prospectus Supplement, omits to
state a material fact required to be stated therein or necessary
to make the statements therein not misleading; it being
understood, however, that the Company shall have no obligation to
review or pass upon the accuracy or adequacy of, or to correct,
any such amendment or supplement provided by the Underwriter to
the Company pursuant to this paragraph (e) or (ii) such filing is
not required under the Act.
9. Collateral Term Sheets. (a) Prior to the delivery
of any "Collateral Term Sheet" within the meaning of the PSA
Letter, the filing of which material is a condition of the relief
granted in such letter (such material being the "Collateral Term
Sheets"), to a prospective investor in any Offered Certificates,
the Underwriter shall, in order to facilitate the timely filing
of such material with the Commission, notify the Company and its
counsel by telephone of its intention to deliver such materials
and the approximate date on which the first such delivery of such
materials is expected to occur. Not later than 10:30 a.m., New
York time, on the business day immediately following the date on
which any Collateral Term Sheet was first delivered to a
prospective investor in such Offered Certificates, the
Underwriter shall deliver to the Company five complete copies of
all materials provided by the Underwriter to prospective
investors in such Offered Certificates which constitute
"Collateral Term Sheets." Each delivery of a Collateral Term
Sheet to the Company pursuant to this paragraph (a) shall be
effected by delivering four copies of such materials to counsel
for the Company on behalf of the Company at the address specified
in Section 3 hereof and one copy of such materials to the
Company. (Collateral Term Sheets and Structural Term Sheets are,
together, referred to herein as "ABS Term Sheets.") At the time
of each such delivery, the Underwriter shall indicate in writing
that the materials being delivered constitute Collateral Term
Sheets, and, if there has been any
- 26 -
<PAGE>
prior such delivery with respect to the related Series, shall
indicate whether such materials differ in any material respect
from any Collateral Term Sheets previously delivered to the
Company with respect to such Series pursuant to this Section 9(a)
as a result of the occurrence of a material change in the
characteristics of the related Mortgage Loans.
(b) The Underwriter represents and warrants to and
agrees with the Company as of the date of the related Terms
Agreement and as of the Closing Date, that:
(i) The Collateral Term Sheets furnished to
the Company pursuant to Section 9(a) constitute all of the
materials furnished to prospective investors by the
Underwriter prior to time of delivery thereof to the
Company that are required to be filed with the Commission
as "Collateral Term Sheets" with respect to the related
Offered Certificates in accordance with the PSA Letter, and
such Collateral Term Sheets comply with the requirements of
the PSA Letter;
(ii) On the date any such Collateral Term
Sheets with respect to such Offered Certificates were last
furnished to each prospective investor and on the date of
delivery thereof to the Company pursuant to Section 9(a)
and on the related Closing Date, such Collateral Term
Sheets did not and will not include any untrue statement of
a material fact or, when read in conjunction with the
Prospectus and Prospectus Supplement, omit to state a
material fact required to be stated therein or necessary to
make the statements therein not misleading; and
(iii) the Underwriter has not represented to
any prospective investor that any Collateral Term Sheets
with respect to any Series were prepared or disseminated on
behalf of the Company, and, except as otherwise disclosed
by the Underwriter to the Company in writing prior to the
date hereof, all Collateral Term Sheets previously
furnished to prospective investors included a disclaimer to
the effect set forth in Section 8(c).
Notwithstanding the foregoing, the Underwriter makes no
representation or warranty as to whether any Collateral Term
Sheet included or will include any untrue statement or material
omission resulting directly from any Mortgage Pool Error (except
any Corrected Mortgage Pool Error, with respect to materials
prepared after the receipt by the Underwriter from the Company of
notice of such Corrected Mortgage Pool Error or materials
superseding or correcting such Corrected Mortgage Pool Error).
(c) The Underwriter acknowledges and agrees that any
Collateral Term Sheets with respect to any Series of Certificates
- 27 -
<PAGE>
furnished to prospective investors from and after the date hereof
shall include a disclaimer in form satisfactory to the Company to
the effect set forth in Section 8(c) hereof, and to the effect
that the information contained in such materials supersedes the
information contained in any prior Collateral Term Sheet with
respect to such Series of Offered Certificates and will be
superseded by the description of the related Mortgage Loans in
the related Prospectus Supplement and in the Detailed Description
relating to such Prospectus Supplement to be filed under cover of
Form 8-K. The Underwriter agrees that it will not represent to
prospective investors that any Collateral Term Sheets were
prepared or disseminated on behalf of the Company.
(d) If, at any time when a prospectus relating to the
Offered Certificates of a Series is required to be delivered
under the Act, it shall be necessary to amend or supplement the
related Prospectus as a result of an untrue statement of a
material fact contained in any Collateral Term Sheets provided by
the Underwriter pursuant to this Section 9 or the omission to
state therein a material fact required, when considered in
conjunction with the related Prospectus and Prospectus
Supplement, to be stated therein or necessary to make the
statements therein, when read in conjunction with the related
Prospectus and Prospectus Supplement, not misleading, or if it
shall be necessary to amend or supplement any Current Report
relating to any Collateral Term Sheets to comply with the Act or
the rules thereunder, the Underwriter promptly will prepare and
furnish to the Company for filing with the Commission an
amendment or supplement which will correct such statement or
omission or an amendment which will effect such compliance. The
Underwriter represents and warrants to the Company, as of the
date of delivery of such amendment or supplement to the Company,
that such amendment or supplement will not include any untrue
statement of a material fact or, when read in conjunction with
the related Prospectus and Prospectus Supplement, omit to state a
material fact required to be stated therein or necessary to make
the statements therein not misleading; provided, however, that
the Underwriter makes no representation or warranty as to whether
any such amendment or supplement will include any untrue
statement resulting directly from any Mortgage Pool Error (except
any Corrected Mortgage Pool Error, with respect to any such
amendment or supplement prepared after the receipt by the
Underwriter from the Company of notice of such Corrected Mortgage
Pool Error or materials superseding or correcting such Corrected
Mortgage Pool Error). The Company shall have no obligation to
file such amendment or supplement if the Company determines that
(i) such amendment or supplement contains any untrue statement of
a material fact or, when read in conjunction with the related
Prospectus and Prospectus Supplement, omits to state a material
fact required to be stated therein or necessary to make the
statements therein not misleading; it being understood, however,
that the Company shall have no obligation to review or pass upon
- 28 -
<PAGE>
the accuracy or adequacy of, or to correct, any such amendment or
supplement provided by the Underwriter to the Company pursuant to
this paragraph (d) or (ii) such filing is not required under the
Act.
10. Termination. This Agreement (with respect to a
particular Certificate Offering) and the related Terms Agreement
shall be subject to termination in the absolute discretion of the
Underwriter, by notice given to the Company prior to delivery of
and payment for the related Offered Certificates, if prior to the
related Closing Date (i) trading in securities generally on the
New York Stock Exchange shall have been suspended or materially
limited, (ii) a general moratorium on commercial banking
activities in New York shall have been declared by either federal
or New York State authorities, or (iii) there shall have occurred
any outbreak or material escalation of hostilities or other
calamity or crisis the effect of which on the financial markets
of the United States is such as to make it, in the reasonable
judgment of the Underwriter, impracticable to market such Offered
Certificates.
11. Representations and Indemnities to Survive
Delivery. The agreements, representations, warranties,
indemnities and other statements of the Company or its officers
and of the Underwriter set forth in or made pursuant to this
Agreement and the related Terms Agreement will remain in full
force and effect, regardless of any investigation made by or on
behalf of the Underwriter or the Company or any of the officers,
directors or controlling persons referred to in Section 7 hereof,
and will survive delivery of and payment for the related Offered
Certificates. The provisions of Section 7 hereof shall survive
the termination or cancellation of this Agreement and the related
Terms Agreement.
12. Successors. This Agreement and the related Terms
Agreement will inure to the benefit of and be binding upon the
parties hereto and thereto and their respective successors and
the officers, directors and controlling persons referred to in
Section 7 hereof, and their successors and assigns, and no other
person will have any right or obligation hereunder or thereunder.
No purchaser of any Offered Certificate from the Underwriter
shall be deemed a successor or assign by reason of such purchase.
13. APPLICABLE LAW. THIS AGREEMENT AND THE RELATED
TERMS AGREEMENT WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS
MADE AND TO BE PERFORMED THEREIN.
14. Miscellaneous. This Agreement, as supplemented by
the related Terms Agreement, supersedes all prior and
contemporaneous agreements and understandings relating to the
subject matter hereof. This Agreement and the related Terms
- 29 -
<PAGE>
Agreement or any term of each may not be changed, waived,
discharged or terminated except by an affirmative written
agreement made by the party against whom enforcement of the
change, waiver, discharge or termination is sought. The headings
in this Agreement and the related Terms Agreement are for
purposes of reference only and shall not limit or otherwise
affect the meaning hereof or thereof.
15. Notices. All communications hereunder will be in
writing and effective only on receipt, and, if sent to the
Underwriter, will be delivered to it at the address first above
written; or if sent to the Company, will be delivered to GE
Capital Mortgage Services, Inc., Three Executive Campus, Cherry
Hill, New Jersey 08002, Attention: General Counsel.
<PAGE>
If the foregoing is in accordance with your
understanding of our agreement, please sign and return to the
undersigned a counterpart hereof, whereupon this letter and your
acceptance shall represent a binding agreement between the
Company and the Underwriter.
Very truly yours,
GE CAPITAL MORTGAGE SERVICES, INC.
By:
Name:
Title:
The foregoing Agreement is hereby confirmed and accepted as of
the date first above written.
DONALDSON, LUFKIN & JENRETTE
SECURITIES CORPORATION
By:
Name:
Title:
- 31 -
<PAGE>
EXHIBIT A
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES ____-__
TERMS AGREEMENT
(to Underwriting Agreement,
dated March [ ], 1996
between the Company and the Underwriter)
GE Capital Mortgage Services, Inc. New York, New York
Three Executive Campus [Date]
Cherry Hill, NJ 08034
Donaldson, Lufkin & Jenrette Securities Corporation
(the "Underwriter") agrees, subject to the terms and provisions
herein and of the captioned Underwriting Agreement (the
"Underwriting Agreement"), to purchase such Classes of Series
____-__ Certificates specified in Section 2(a) hereof (the
"Offered Certificates"). This letter supplements and modifies the
Underwriting Agreement solely as it relates to the purchase and
sale of the Offered Certificates described below. The Series
____-__ Certificates are registered with the Securities and
Exchange Commission by means of an effective Registration
Statement (No. 33-___). Capitalized terms used and not defined
herein have the meanings given them in the Underwriting
Agreement.
Section 1. The Mortgage Pool: The Series ____-__
Certificates shall evidence the entire beneficial ownership
interest in a mortgage pool (the "Mortgage Pool") of
conventional, fixed rate, fully amortizing one- to four-family
residential mortgage loans (the "Mortgage Loans") having the
following characteristics as of ________ __, ____ (the "Cut-off
Date"):
(a) Aggregate Principal Amount of the Mortgage Pool:
$[ ] aggregate principal balance as of the Cutoff Date,
subject to [an upward or downward variance of up to [ ]%,
the precise aggregate principal balance to be determined by
the Company][a permitted variance such that the aggregate
Scheduled Principal Balance thereof will be not less than
$[ ] or greater than $[ ]].
(b) Original Terms to Maturity: The original term to
maturity of each Mortgage Loan included in the Mortgage Pool
shall be between ___ and ___ years.
A-1
<PAGE>
Section 2. The Certificates: The Offered
Certificates shall be issued as follows:
(a) Classes: The Offered Certificates shall be issued
with the following Class designations, interest rates and
principal balances, subject in the aggregate to the
variance referred to in Section 1(a)[and, as to any
particular Class, to an upward or downward variance of up
to [ ]%]:
Principal Interest Class Purchase
Class Balance Rate Price Percentage
(b) The Offered Certificates shall have such other
characteristics as described in the related Prospectus.
Section 3. Purchase Price: The Purchase Price for each
Class of the Offered Certificates shall be the Class Purchase
Price Percentage therefor (as set forth in Section 2(a) above) of
the initial Class Certificates Principal Balance thereof plus
accrued interest at the rate of [ ]% per annum from and including
the Cut-off Date up to, but not including, _________ __, ____
(the "Closing Date").
Section 4. Required Ratings: The Offered
Certificates shall have received Required Ratings of at least
[ ] from [ ].
Section 5. Tax Treatment: [One or more elections
will be made to treat the assets of the Trust Fund as a REMIC.]
[The Trust Fund will be treated as a "grantor trust" for federal
income tax purposes.]
[Section 6. Additional Expenses:]*
- --------
* to be inserted if applicable.
A-2
<PAGE>
If the foregoing is in accordance with your
understanding of our agreement, please sign and return to the
undersigned a counterpart hereof, whereupon this letter and your
acceptance shall represent a binding agreement between the
Underwriter and the Company.
Very truly yours,
DONALDSON, LUFKIN & JENRETTE
SECURITIES CORPORATION
By:
Name:
Title:
The foregoing Agreement is hereby confirmed and accepted as of
the date first above written.
GE CAPITAL MORTGAGE SERVICES, INC.
By:
Name:
Title:
A-3
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES 1998-15
TERMS AGREEMENT
(to Underwriting Agreement,
dated March 21, 1996,
between the Company and the Underwriter)
GE Capital Mortgage Services, Inc. New York, New York
Three Executive Campus September 23, 1998
Cherry Hill, NJ 08002
Donaldson, Lufkin & Jenrette Securities Corporation
(the "Underwriter") agrees, subject to the terms and provisions
herein and of the captioned Underwriting Agreement (the
"Underwriting Agreement"), to purchase the Classes of Series
1998-15 Certificates specified in Section 2(a) hereof (the
"Offered Certificates"). This Terms Agreement supplements and
modifies the Underwriting Agreement solely as it relates to the
purchase and sale of the Offered Certificates described below.
The Series 1998-15 Certificates are registered with the
Securities and Exchange Commission by means of an effective
Registration Statement (No. 333-51151). Capitalized terms used
and not defined herein have the meanings given them in the
Underwriting Agreement.
Section 1. The Mortgage Pool: The Series 1998-15
Certificates shall evidence the entire beneficial ownership
interest in a mortgage pool (the "Mortgage Pool") of
conventional, fixed-rate, first-lien, fully-amortizing, one- to
four-family residential mortgage loans (the "Mortgage Loans")
having the following characteristics as of September 1, 1998 (the
"Cut-off Date"):
(a) Aggregate Principal Amount of the Mortgage Pool:
$475,922,798.28 aggregate principal balance as of the
Cut-off Date, subject to a permitted variance such that the
aggregate original Certificate Principal Balance will be
not less than $451,250,000 or greater than $498,750,000.
(b) Original Terms to Maturity: The original term to
maturity of substantially all of the Mortgage Loans
included in the Mortgage Pool shall be between 20 and 30
years.
Section 2. The Certificates: The Offered Certificates shall
be issued as follows:
<PAGE>
(a) Classes: The Offered Certificates shall be issued
with the following Class designations, interest rates and
principal balances, subject in the aggregate to the
variance referred to in Section 1(a):
Class
Purchase
Principal Interest Price
Class Balance Rate Percentage
----- --------- -------- ----------
Class M $8,804,571 6.750% 99.580%
Class B1 3,807,382 6.750 98.750%
Class B2 2,141,652 6.750 96.800%
(b) The Offered Certificates shall have such other
characteristics as described in the related Prospectus.
Section 3. Purchase Price: The Purchase Price for each
Class of the Offered Certificates shall be the Class Purchase
Price Percentage therefor (as set forth in Section 2(a) above) of
the initial Class Certificate Principal Balance thereof plus
accrued interest at the initial interest rate per annum from and
including the Cut-off Date up to, but not including, September
24, 1998 (the "Closing Date").
Section 4. Required Ratings: The Class M, Class B1 and
Class B2 Certificates shall have received Required Ratings of at
least "AA," "A" and "BBB," respectively, from Fitch IBCA, Inc.
Section 5. Tax Treatment: One or more elections will be
made to treat the assets of the Trust Fund as a REMIC.
2
<PAGE>
If the foregoing is in accordance with your
understanding of our agreement, please sign and return to the
undersigned a counterpart hereof, whereupon this letter and your
acceptance shall represent a binding agreement between the
Underwriter and the Company.
Very truly yours,
DONALDSON, LUFKIN & JENRETTE
SECURITIES CORPORATION
By:_____________________________
Name:
Title:
The foregoing Agreement is
hereby confirmed and accepted
as of the date hereof.
GE CAPITAL MORTGAGE SERVICES, INC.
By:______________________________
Name:
Title:
Execution
=================================================================
GE CAPITAL MORTGAGE SERVICES, INC.,
Seller and Servicer
and
STATE STREET BANK AND TRUST COMPANY,
Trustee
--------------------------
POOLING AND SERVICING AGREEMENT
Dated as of September 1, 1998
--------------------------
REMIC Multi-Class Pass-Through Certificates,
Series 1998-15
=================================================================
<PAGE>
TABLE OF CONTENTS
Page
----
ARTICLE I
DEFINITIONS
Section 1.01. Definitions..................................1
ARTICLE II
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF
CERTIFICATES
Section 2.01. Conveyance of Mortgage Loans................33
Section 2.02. Acceptance by Trustee.......................37
Section 2.03. Representations and Warranties of
the Company; Mortgage Loan Repurchase.......38
Section 2.04. Execution of Certificates...................44
Section 2.05. Designations under the REMIC Provisions.....44
ARTICLE III
ADMINISTRATION AND SERVICING OF MORTGAGE LOANS
Section 3.01. Company to Act as Servicer..................44
Section 3.02. Collection of Certain Mortgage
Loan Payments; Mortgage Loan Payment
Record; Certificate Account.................48
Section 3.03. Collection of Taxes, Assessments and
Other Items.................................51
Section 3.04. Permitted Debits to the Mortgage Loan
Payment Record..............................51
Section 3.05. Maintenance of the Primary Insurance
Policies....................................52
Section 3.06. Maintenance of Hazard Insurance.............53
Section 3.07. Assumption and Modification Agreements......53
Section 3.08. Realization Upon Defaulted Mortgage
Loans.......................................54
Section 3.09. Trustee to Cooperate; Release of
Mortgage Files..............................57
Section 3.10. Servicing Compensation; Payment of
Certain Expenses by the Company.............57
Section 3.11. Reports to the Trustee; Certificate
Account Statements..........................58
Section 3.12. Annual Statement as to Compliance...........58
Section 3.13. Annual Independent Public Accountants'
Servicing Report............................58
Section 3.14. Access to Certain Documentation and
Information Regarding the Mortgage
Loans.......................................59
Section 3.15. Maintenance of Certain Servicing
Policies....................................59
Section 3.16. Optional Purchase of Defaulted
Mortgage Loans..............................59
<PAGE>
ARTICLE IV
PAYMENTS AND STATEMENTS
Section 4.01. Distributions...............................60
Section 4.02. Method of Distribution......................63
Section 4.03. Allocation of Losses........................64
Section 4.04. Monthly Advances; Purchases of
Defaulted Mortgage Loans....................66
Section 4.05. Statements to Certificateholders............67
Section 4.06. Servicer's Certificate......................69
Section 4.07. Reports of Foreclosures and
Abandonments of Mortgaged Property..........69
Section 4.08. Reduction of Base Servicing Fees
by Compensating Interest Payments...........69
Section 4.09. Surety Bond.................................69
ARTICLE V
THE CERTIFICATES
Section 5.01. The Certificates............................69
Section 5.02. Registration of Transfer and
Exchange of Certificates....................72
Section 5.03. Mutilated, Destroyed, Lost or
Stolen Certificates.........................77
Section 5.04. Persons Deemed Owners.......................78
Section 5.05. Access to List of Certificateholders'
Names and Addresses.........................78
Section 5.06. Representation of Certain
Certificateholders..........................78
Section 5.07. Determination of COFI.......................78
Section 5.08. Determination of LIBOR......................79
ARTICLE VI
THE COMPANY
Section 6.01. Liability of the Company....................80
Section 6.02. Merger or Consolidation of, or
Assumption of the Obligations of,
the Company.................................80
Section 6.03. Assignment..................................81
Section 6.04. Limitation on Liability of the
Company and Others..........................81
Section 6.05. The Company Not to Resign...................82
ARTICLE VII
DEFAULT
Section 7.01. Events of Default...........................82
Section 7.02. Trustee to Act; Appointment of Successor....83
Section 7.03. Notification to Certificateholders..........84
ii
<PAGE>
ARTICLE VIII
THE TRUSTEE
Section 8.01. Duties of Trustee...........................84
Section 8.02. Certain Matters Affecting the Trustee.......85
Section 8.03. Trustee Not Liable for Certificates
or Mortgage Loans...........................86
Section 8.04. Trustee May Own Certificates................87
Section 8.05. The Company to Pay Trustee's
Fees and Expenses...........................87
Section 8.06. Eligibility Requirements for Trustee........87
Section 8.07. Resignation or Removal of Trustee...........87
Section 8.08. Successor Trustee...........................88
Section 8.09. Merger or Consolidation of Trustee..........89
Section 8.10. Appointment of Co-Trustee or Separate
Trustee.....................................89
Section 8.11. Compliance with REMIC Provisions;
Tax Returns.................................90
ARTICLE IX
TERMINATION
Section 9.01. Termination upon Repurchase by the
Company or Liquidation of All
Mortgage Loans..............................90
Section 9.02. Additional Termination Requirements.........92
ARTICLE X
MISCELLANEOUS PROVISIONS
Section 10.01. Amendment..................................92
Section 10.02. Recordation of Agreement...................93
Section 10.03. Limitation on Rights of
Certificateholders.........................94
Section 10.04. Governing Law..............................94
Section 10.05. Notices....................................94
Section 10.06. Notices to the Rating Agencies.............95
Section 10.07. Severability of Provisions.................95
Section 10.08. Certificates Nonassessable
and Fully Paid.............................95
iii
<PAGE>
Exhibits
- --------
EXHIBIT A Forms of Certificates
EXHIBIT B Principal Balance Schedules
EXHIBIT C Mortgage Loans (including list of Cooperative
Loans)
EXHIBIT D Form of Servicer's Certificate
EXHIBIT E Form of Transfer Certificate as to ERISA Matters
for Definitive ERISA-Restricted Certificates
EXHIBIT F Form of Residual Certificate Transferee
Affidavit
EXHIBIT G Form of Residual Certificate Transferor Letter
EXHIBIT H Additional Servicer Compensation
EXHIBIT I Form of Investment Letter for Definitive
Restricted Certificates
EXHIBIT J Form of Distribution Date Statement
EXHIBIT K Form of Special Servicing and Collateral Fund
Agreement
EXHIBIT L Form of Lost Note Affidavit and Agreement
EXHIBIT M Schedule of Designated Loans
EXHIBIT N Schedule of Pledged Asset Mortgage Loans
EXHIBIT O Senior Principal Priorities
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THIS POOLING AND SERVICING AGREEMENT, dated as of
September 1, 1998, between GE CAPITAL MORTGAGE SERVICES, INC., a
corporation organized and existing under the laws of the State of
New Jersey, and STATE STREET BANK AND TRUST COMPANY, a
Massachusetts banking corporation, as Trustee.
W I T N E S S E T H T H A T :
- - - - - - - - - - - - - -
In consideration of the mutual agreements herein
contained, GE Capital Mortgage Services, Inc. and State Street
Bank and Trust Company agree as follows:
ARTICLE I
DEFINITIONS
Section 1.01. Definitions. Whenever used in this Agreement,
the following words and phrases, unless the context otherwise
requires, shall have the following meanings:
Accretion Directed Certificate: None.
Accretion Directed Component: None.
Accretion Termination Date: As to the Accrual
Certificates, the earlier of (i) the Cross-Over Date; and
(ii) the Distribution Date on which the Class Certificate
Principal Balance of each Class of Accretion Directed
Certificates has been reduced to zero.
Accrual Amount: As to any Class of Accrual
Certificates and any Accrual Component and each
Distribution Date through the related Accretion Termination
Date, the sum of (x) any amount of Accrued Certificate
Interest allocable to such Class or Component pursuant to
Section 4.01(a)(i) on such Distribution Date and (y) any
amount of Unpaid Class Interest Shortfall allocable to such
Class or Component pursuant to Section 4.01(a)(ii) on such
Distribution Date, to the extent that such amounts are
distributed to any Accretion Directed Certificates and any
Accretion Directed Components pursuant to Section 4.01(e).
As to any Class of Accrual Certificates and any Accrual
Component and each Distribution Date after the related
Accretion Termination Date, zero.
Accrual Certificates: None.
Accrual Component: None.
Accrued Certificate Interest: As to any Distribution
Date and any Class of Certificates (other than any Class of
Principal Only Certificates and any Class of Certificates
consisting of Specified Components), interest accrued
during the related Interest Accrual Period at the
applicable Certificate Interest Rate on the Class
Certificate Principal Balance (or, in the case of any Class
of Notional Certificates, on the aggregate Notional
Principal Balance) thereof immediately prior to such
Distribution Date, calculated on the basis of a 360-day
year consisting of twelve 30-day months. As to any
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Distribution Date and any Specified Component (other than
any Principal Only Component), interest accrued during the
related Interest Accrual Period at the applicable Component
Interest Rate on the Component Principal Balance (or
Notional Component Principal Balance) thereof immediately
prior to such Distribution Date, calculated on the basis of
a 360-day year consisting of twelve 30-day months. As to
any Distribution Date and any Class of Certificates
consisting of Specified Components, the aggregate of
Accrued Certificate Interest on such Specified Components
for such Distribution Date.
Accrued Certificate Interest on each Class of
Certificates (other than any Class of Principal Only
Certificates and any Class of Certificates consisting of
Specified Components) and any Specified Component (other
than any Principal Only Component) shall be reduced by such
Class's or Specified Component's share of the amount of any
Net Interest Shortfall and Certificate Interest Losses for
such Distribution Date. Any Net Interest Shortfall and
Certificate Interest Losses shall be allocated among (x)
the Classes of Certificates (other than any Class of
Principal Only Certificates and any Class of Certificates
consisting of Specified Components) and (y) the Specified
Components (other than any Principal Only Component) of any
Component Certificate in proportion to the respective
amounts of Accrued Certificate Interest that would have
resulted absent such shortfall or losses.
Additional Collateral: With respect to any Mortgage
100SM Loan, the marketable securities held from time to
time as security for the repayment of such Mortgage 100SM
Loan and any related collateral. With respect to any Parent
PowerSM Loan, the third-party guarantee for such Parent
PowerSM Loan, together with (i) any marketable securities
held from time to time as security for the performance of
such guarantee and any related collateral or (ii) any
mortgaged property securing the performance of such
guarantee, the related home equity line of credit loan and
any related collateral.
Agreement: This Pooling and Servicing Agreement and
all amendments hereof and supplements hereto.
Allocable Share: (a) As to any Distribution Date and
amounts distributable pursuant to clauses (i) and (iii) of
the definition of Junior Optimal Principal Amount, and as
to each Class of Junior Certificates, the fraction,
expressed as a percentage, the numerator of which is the
Class Certificate Principal Balance of such Class and the
denominator of which is the aggregate Class Certificate
Principal Balance of the Junior Certificates.
(b) As to any Distribution Date and amounts
distributable pursuant to clauses (ii), (iv) and (v) of the
definition of Junior Optimal Principal Amount, and as to
the Class M Certificates and each Class of Class B
Certificates for which the related Prepayment Distribution
Trigger has been satisfied on such Distribution Date, the
fraction, expressed as a percentage, the numerator of which
is the Class Certificate Principal Balance of such Class
and the denominator of which is the aggregate Class
Certificate Principal Balance of all such Classes. As to
any Distribution Date and each Class of Class B
Certificates for which the related Prepayment Distribution
Trigger has not been satisfied on such Distribution Date,
0%.
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Amortization Payment: As to any REO Mortgage Loan and
any month, the payment of principal and accrued interest
due in such month in accordance with the terms of the
related Mortgage Note as contemplated by Section 3.08(b).
Amount Held for Future Distribution: As to each
Distribution Date, the total of all amounts credited to the
Mortgage Loan Payment Record as of the preceding
Determination Date on account of (i) Principal Prepayments,
Insurance Proceeds and Liquidation Proceeds received
subsequent to the preceding Prepayment Period applicable to
such receipts, and (ii) monthly payments of principal and
interest due subsequent to the preceding Due Date.
Anniversary Determination Date: The Determination Date
occurring in October of each year that the Certificates are
outstanding, commencing in October 1999.
Assignment of Proprietary Lease: With respect to a
Cooperative Loan, the assignment of the related Proprietary
Lease from the Mortgagor to the originator of the
Cooperative Loan.
Assumed Monthly Payment Reduction: As of any
Anniversary Determination Date and as to any Non-Primary
Residence Loan remaining in the Mortgage Pool whose
original principal balance was 80% or greater of the
Original Value thereof, the excess of (i) the Monthly
Payment thereof calculated on the assumption that the
Mortgage Rate thereon was equal to the weighted average (by
principal balance) of the Remittance Rates of all
Outstanding Mortgage Loans (the "Weighted Average Rate") as
of such Anniversary Determination Date over (ii) the
Monthly Payment thereof calculated on the assumption that
the Remittance Rate thereon was equal to the Weighted
Average Rate less 1.25% per annum.
Available Funds: As to each Distribution Date, an
amount equal to the sum of (i) all amounts credited to the
Mortgage Loan Payment Record pursuant to Section 3.02 as of
the preceding Determination Date, (ii) any Monthly Advance
and any Compensating Interest Payment for such Distribution
Date, (iii) the Purchase Price of any Defective Mortgage
Loans and Defaulted Mortgage Loans deposited in the
Certificate Account on the Business Day preceding such
Distribution Date (including any amounts deposited in the
Certificate Account in connection with any substitution of
a Mortgage Loan as specified in Section 2.03(b)), and (iv)
the purchase price of any defaulted Mortgage Loan purchased
under an agreement entered into pursuant to Section 3.08(e)
as of the end of the preceding Prepayment Period less the
sum of (x) the Amount Held for Future Distribution, (y) the
amount of any Unanticipated Recovery credited to the
Mortgage Loan Payment Record pursuant to clause (vi) of
Section 3.02(b), and (z) amounts permitted to be debited
from the Mortgage Loan Payment Record pursuant to clauses
(i) through (vii) and (ix) of Section 3.04.
Bankruptcy Coverage Termination Date: The Distribution
Date upon which the Bankruptcy Loss Amount has been reduced
to zero or a negative number (or the Cross-Over Date, if
earlier).
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Bankruptcy Loss Amount: As of any Determination Date
prior to the first Anniversary Determination Date, the
Bankruptcy Loss Amount shall equal $164,817, as reduced by
the aggregate amount of Deficient Valuations and Debt
Service Reductions since the Cut-off Date. As of any
Determination Date after the first Anniversary
Determination Date, other than an Anniversary Determination
Date, the Bankruptcy Loss Amount shall equal the Bankruptcy
Loss Amount on the immediately preceding Anniversary
Determination Date as reduced by the aggregate amount of
Deficient Valuations and Debt Service Reductions since such
preceding Anniversary Determination Date. As of any
Anniversary Determination Date, the Bankruptcy Loss Amount
shall equal the lesser of (x) the Bankruptcy Loss Amount as
of the preceding Determination Date as reduced by any
Deficient Valuations and Debt Service Reductions for the
preceding Distribution Date, and (y) the greater of (i) the
Fitch Formula Amount for such Anniversary Determination
Date and (ii) the Formula Amount for such Anniversary
Determination Date.
The Bankruptcy Loss Amount may be further reduced by
the Company (including accelerating the manner in which
such coverage is reduced) provided that prior to any such
reduction, the Company shall obtain written confirmation
from each Rating Agency that such reduction shall not
adversely affect the then-current rating assigned to the
related Classes of Certificates by such Rating Agency and
shall provide a copy of such written confirmation to the
Trustee.
Base Servicing Fee: As to any Mortgage Loan and
Distribution Date, an amount equal to the product of (i)
the Scheduled Principal Balance of such Mortgage Loan as of
the Due Date in the preceding calendar month and (ii) the
Base Servicing Fee Rate for such Mortgage Loan. The Base
Servicing Fee for any Distribution Date is subject to
adjustment pursuant to Section 3.08(d) (with respect to a
Realized Loss) or the definition of Interest Loss (with
respect to the interest portion of a Debt Service
Reduction).
Base Servicing Fee Rate: As to any Mortgage Loan, the
per annum rate identified as such for such Mortgage Loan
and set forth in the Mortgage Loan Schedule.
BBA: The British Bankers' Association.
BIF: The Bank Insurance Fund of the FDIC, or its
successor in interest.
Book-Entry Certificate: Any Certificate registered in
the name of the Depository or its nominee, ownership of
which is reflected on the books of the Depository or on the
books of a person maintaining an account with such
Depository (directly or as an indirect participant in
accordance with the rules of such Depository). As of the
Closing Date, each Class of Certificates, other than the
Class B3, Class B4, Class B5, Class R and Class PO
Certificates, constitutes a Class of Book-Entry
Certificates.
Book-Entry Nominee: As defined in Section 5.02(b).
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Business Day: Any day other than a Saturday or a
Sunday, or a day on which banking institutions in New York
City or the city in which the Corporate Trust Office is
located are authorized or obligated by law or executive
order to be closed.
Buydown Funds: Funds contributed by the Mortgagor or
another source in order to reduce the interest payments
required from the Mortgagor for a specified period in
specified amounts.
Buydown Mortgage Loan: Any Mortgage Loan as to which
the Mortgagor pays less than the full monthly payment
specified in the Mortgage Note during the Buydown Period
and the difference between the amount paid by the Mortgagor
and the amount specified in the Mortgage Note is paid from
the related Buydown Funds.
Buydown Period: The period during which Buydown Funds
are required to be applied to the related Buydown Mortgage
Loan.
Certificate: Any one of the certificates signed and
countersigned by the Trustee in substantially the forms
attached hereto as Exhibit A.
Certificate Account: The trust account or accounts
created and maintained with the Trustee pursuant to Section
3.02 and which must be an Eligible Account.
Certificate Interest Loss: (i) On or prior to the
Cross-Over Date, any Interest Loss in respect of an Excess
Loss and (ii) after the Cross-Over Date, any Interest Loss,
in each case to the extent such Interest Loss is allocable
to the Certificates in accordance with Section 3.08(d)
(with respect to a Realized Loss) or the definition of
Interest Loss (with respect to the interest portion of a
Debt Service Reduction).
Certificate Interest Rate: With respect to any Class
of Certificates, other than the LIBOR Certificates, and as
of any Distribution Date, the per annum fixed rate
specified in Section 5.01(b). With respect to each Class of
LIBOR Certificates, the per annum variable rate at any time
at which interest accrues on the Certificates of such
Class, as determined pursuant to Section 5.01(e).
Certificate Owner: With respect to any Book-Entry
Certificate, the person who is the beneficial owner
thereof.
Certificate Principal Balance: As to any Certificate
other than a Notional Certificate, and as of any
Distribution Date, the Initial Certificate Principal
Balance of such Certificate (plus, in the case of any
Accrual Certificate, its Percentage Interest of any related
Accrual Amount for each previous Distribution Date) less
the sum of (i) all amounts distributed with respect to such
Certificate in reduction of the Certificate Principal
Balance thereof on previous Distribution Dates pursuant to
Section 4.01, (ii) any Realized Losses allocated to such
Certificate on previous Distribution Dates pursuant to
Section 4.03(b) and (c), and (iii) in the case of a
Subordinate Certificate, such Certificate's Percentage
Interest of the Subordinate Certificate Writedown Amount
allocated to such Certificate on previous Distribution
Dates. The Notional Certificates are issued without
Certificate Principal Balances.
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Certificate Register and Certificate Registrar: The
register maintained and the registrar appointed pursuant to
Section 5.02.
Certificateholder or Holder: The person in whose name
a Certificate is registered in the Certificate Register,
except that, solely for the purposes of giving any consent
pursuant to this Agreement, a Certificate of any Class to
the extent that the Company or any affiliate is the
Certificate Owner or Holder thereof (except to the extent
the Company or any affiliate thereof shall be the
Certificate Owner or Holder of all Certificates of such
Class), shall be deemed not to be outstanding and the
Percentage Interest (or Voting Rights) evidenced thereby
shall not be taken into account in determining whether the
requisite amount of Percentage Interests (or Voting Rights)
necessary to effect any such consent has been obtained;
provided, however, that in determining whether the Trustee
shall be protected in relying on such consent only the
Certificates that the Trustee knows to be so held shall be
so disregarded.
Class: All Certificates bearing the same class
designation.
Class B Certificate: Any Class B1, Class B2, Class B3,
Class B4 or Class B5 Certificate.
Class Certificate Principal Balance: As to any Class
of Certificates, other than any Class of Notional
Certificates, and as of any date of determination, the
aggregate of the Certificate Principal Balances of all
Certificates of such Class. The Class Certificate Principal
Balance of each such Class of Certificates as of the
Closing Date is specified in Section 5.01(b).
Class Interest Shortfall: As to any Distribution Date
and any Class of Certificates (other than any Class of
Principal Only Certificates or any Class consisting of
Specified Components) or any Specified Component, any
amount by which the amount distributed to Holders of such
Class of Certificates or in respect of such Specified
Component (or added to the Class Certificate Principal
Balance of any Class of Accrual Certificates or to the
Component Principal Balance of any Accrual Component
constituting a Specified Component) on such Distribution
Date is less than the Accrued Certificate Interest thereon
or in respect thereof for such Distribution Date. As to any
Distribution Date and any Class of Certificates consisting
of Specified Components, the sum of the Class Interest
Shortfalls for such Components on such date.
Class PO Deferred Amount: As to any Distribution Date
on or prior to the Cross-Over Date, the aggregate of the
applicable PO Percentage of the principal portion of each
Realized Loss, other than any Excess Loss, to be allocated
to the Class PO Certificates on such Distribution Date or
previously allocated to the Class PO Certificates and not
yet paid to the Holders of the Class PO Certificates
pursuant to Section 4.01(a)(iv).
Closing Date: September 24, 1998.
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Code: The Internal Revenue Code of 1986, as it may be
amended from time to time, any successor statutes thereto,
and applicable U.S. Department of the Treasury temporary or
final regulations promulgated thereunder.
COFI: The monthly weighted average cost of funds for
savings institutions the home offices of which are located
in Arizona, California, or Nevada that are member
institutions of the Eleventh Federal Home Loan Bank
District, as computed from statistics tabulated and
published by the Federal Home Loan Bank of San Francisco in
its monthly Information Bulletin.
COFI Certificates: None.
COFI Determination Date: As to each Interest Accrual
Period for any COFI Certificates, the last Business Day of
the calendar month preceding the commencement of such
Interest Accrual Period.
Company: GE Capital Mortgage Services, Inc., a
corporation organized and existing under the laws of the
State of New Jersey, or its successor in interest or, if
any successor servicer is appointed as herein provided,
then such successor servicer.
Compensating Interest Payment: With respect to any
Distribution Date, an amount equal to the aggregate of the
Interest Shortfalls described in clauses (a) and (b) of the
definition thereof with respect to such Distribution Date;
provided, however, that such amount shall not exceed the
lesser of (i) an amount equal to the product of (x) the
Pool Scheduled Principal Balance with respect to such
Distribution Date and (y) one-twelfth of 0.125%, and (ii)
the aggregate of the Base Servicing Fees that the Company
would be entitled to retain on such Distribution Date (less
any portion thereof paid as servicing compensation to any
Primary Servicer) without giving effect to any Compensating
Interest Payment.
Component: Any of the components of a Class of
Component Certificates having the designations and the
initial Component Principal Balances as follows:
Initial Component
Designation Principal Balance
----------- -----------------
N/A N/A
Component Certificate: None.
Component Interest Rate: None.
Component Principal Balance: As of any Distribution
Date, and with respect to any Component, other than any
Notional Component, the initial Component Principal Balance
thereof (as set forth, as applicable, in the definition of
Component) (plus, in the case of any Accrual Component, any
related Accrual Amount for each previous Distribution Date)
less the sum of (x) all amounts distributed in reduction
thereof on previous Distribution Dates pursuant to Section
4.01 and (y) the amount of all Realized Losses allocated
thereto pursuant to Section 4.03(d).
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Confirmatory Mortgage Note: With respect to any
Mortgage Loan, a note or other evidence of indebtedness
executed by the Mortgagor confirming its obligation under
the note or other evidence of indebtedness previously
executed by the Mortgagor upon the origination of the
related Mortgage Loan.
Cooperative: A private, cooperative housing
corporation organized in accordance with applicable state
laws which owns or leases land and all or part of a
building or buildings located in the relevant state,
including apartments, spaces used for commercial purposes
and common areas therein and whose board of directors
authorizes, among other things, the sale of Cooperative
Stock.
Cooperative Apartment: A dwelling unit in a
multi-dwelling building owned or leased by a Cooperative,
which unit the Mortgagor has an exclusive right to occupy
pursuant to the terms of one or more Proprietary Leases.
Cooperative Loans: Any of the Mortgage Loans made in
respect of a Cooperative Apartment, evidenced by a Mortgage
Note and secured by (i) a Security Agreement, (ii) the
related Cooperative Stock Certificate(s), (iii) an
assignment of the Proprietary Lease(s), (iv) financing
statements and (v) a stock power (or other similar
instrument), and in addition thereto, a recognition
agreement between the Cooperative and the originator of the
Cooperative Loan, each of which was transferred and
assigned to the Trustee pursuant to Section 2.01 and are
from time to time held as part of the Trust Fund. The
Mortgage Loans identified as such in Exhibit C hereto are
Cooperative Loans.
Cooperative Stock: With respect to a Cooperative Loan,
the single outstanding class of stock, partnership interest
or other ownership instrument in the related Cooperative.
Cooperative Stock Certificate: With respect to a
Cooperative Loan, the stock certificate(s) or other
instrument evidencing the related Cooperative Stock.
Corporate Trust Office: The principal office of the
Trustee at which at any particular time its corporate trust
business shall be administered, which office at the date of
the execution of this instrument is located at Two
International Place, Boston, Massachusetts 02110,
Attention: Corporate Trust Department.
Cross-Over Date: The first Distribution Date on which
the aggregate Class Certificate Principal Balance of the
Junior Certificates has been reduced to zero (giving effect
to all distributions on such Distribution Date).
Cut-off Date: September 1, 1998.
Debt Service Reduction: As to any Mortgage Loan and
any Determination Date, the excess of (a) the then current
Monthly Payment for such Mortgage Loan over (b) the amount
of the monthly payment of principal and interest required
to be paid by the Mortgagor as established by a court of
competent jurisdiction as a result of a proceeding
initiated by or against the related Mortgagor under the
Bankruptcy Code, as amended from time to time (11 U.S.C.).
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Defaulted Mortgage Loan: With respect to any
Determination Date, a Mortgage Loan as to which the related
Mortgagor has failed to make unexcused payment in full of a
total of three or more consecutive installments of
principal and interest, and as to which such delinquent
installments have not been paid, as of the close of
business on the last Business Day of the month next
preceding the month of such Determination Date.
Defective Mortgage Loan: Any Mortgage Loan which is
required to be purchased by the Company (or which the
Company may replace with a substitute Mortgage Loan)
pursuant to Section 2.02 or 2.03(a).
Deficient Valuation: As to any Mortgage Loan and any
Determination Date, the excess of (a) the then outstanding
indebtedness under such Mortgage Loan over (b) the
valuation by a court of competent jurisdiction of the
related Mortgaged Property as a result of a proceeding
initiated by or against the related Mortgagor under the
Bankruptcy Code, as amended from time to time (11 U.S.C.),
pursuant to which such Mortgagor retained such Mortgaged
Property.
Definitive Certificate: Any Certificate, other than a
Book-Entry Certificate, issued in definitive, fully
registered form.
Definitive Restricted Junior Certificate: Any
Restricted Junior Certificate that is in the form of a
Definitive Certificate.
Depository: The initial Depository shall be The
Depository Trust Company, the nominee of which is CEDE &
Co. The Depository shall at all times be a "clearing
corporation" as defined in Section 8-102(3) of the Uniform
Commercial Code of the State of New York, as amended, or
any successor provisions thereto.
Depository Participant: A broker, dealer, bank or
other financial institution or other Person for which, from
time to time, the Depository effects book-entry transfers
and pledges of securities deposited with such Depository.
Designated Loan Closing Documents: With respect to any
Designated Loan, a Lost Note Affidavit substantially in the
form of Exhibit L, and an assignment of the related
Mortgage to the Trustee in recordable form (except for the
omission therein of recording information concerning such
Mortgage).
Designated Loans: The Mortgage Loan listed in Exhibit
M hereto.
Designated Telerate Page: The Dow Jones Telerate
Service page 3750 (or such other page as may replace page
3750 on that service or such other service as may be
nominated by the BBA for the purpose of displaying the
Interest Settlement Rates).
Determination Date: With respect to any Distribution
Date, the fifth Business Day prior thereto.
Discount Mortgage Loan: Any Mortgage Loan with a Net
Mortgage Rate less than 6.75% per annum.
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Disqualified Organization: Any of the following: (i)
the United States, any State or political subdivision
thereof, or any agency or instrumentality of any of the
foregoing (including but not limited to state pension
organizations); (ii) a foreign government, International
Organization or any agency or instrumentality of either of
the foregoing; (iii) an organization (except certain
farmers' cooperatives described in Code section 521) which
is exempt from tax imposed by Chapter 1 of the Code
(including the tax imposed by section 511 of the Code on
unrelated business taxable income); and (iv) a rural
electric and telephone cooperative described in Code
section 1381(a)(2)(C). The terms "United States," "State"
and "International Organization" shall have the meanings
set forth in Code section 7701 or successor provisions. A
corporation will not be treated as an instrumentality of
the United States or of any State or political subdivision
thereof for these purposes if all of its activities are
subject to tax and a majority of its board of directors is
not selected by such governmental unit.
Distribution Date: The 25th day of each calendar month
after the month of initial issuance of the Certificates,
or, if such 25th day is not a Business Day, the next
succeeding Business Day.
Distribution Date Statement: The statement referred to
in Section 4.05(a).
Document File: As defined in Section 2.01.
Due Date: The first day of the month of the related
Distribution Date.
Eligible Account: An account that is either (i)
maintained with a depository institution the debt
obligations of which have been rated by each Rating Agency
in one of its two highest long-term rating categories and
has been assigned by S&P its highest short-term rating,
(ii) an account or accounts the deposits in which are fully
insured by either the BIF or the SAIF, (iii) an account or
accounts, in a depository institution in which such
accounts are insured by the BIF or the SAIF (to the limits
established by the FDIC), the uninsured deposits in which
accounts are either invested in Permitted Investments or
are otherwise secured to the extent required by the Rating
Agencies such that, as evidenced by an Opinion of Counsel
delivered to the Trustee, the Certificateholders have a
claim with respect to the funds in such account or a
perfected first security interest against any collateral
(which shall be limited to Permitted Investments) securing
such funds that is superior to claims of any other
depositors or creditors of the depository institution with
which such account is maintained, (iv) a trust account
maintained with the corporate trust department of a federal
or state chartered depository institution or of a trust
company with trust powers and acting in its fiduciary
capacity for the benefit of the Trustee hereunder or (v)
such account as will not cause either Rating Agency to
downgrade or withdraw its then-current rating assigned to
the Certificates, as evidenced in writing by the Rating
Agencies.
ERISA: The Employee Retirement Income Security Act of
1974, as amended.
ERISA-Restricted Certificate: Any Junior Certificate.
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Event of Default: An event described in Section 7.01.
Excess Bankruptcy Loss: Any Deficient Valuation or
Debt Service Reduction, or portion thereof, (i) occurring
after the Bankruptcy Coverage Termination Date or (ii) if
on such date, in excess of the then-applicable Bankruptcy
Loss Amount.
Excess Fraud Loss: Any Fraud Loss, or portion thereof,
(i) occurring after the Fraud Coverage Termination Date or
(ii) if on such date, in excess of the then-applicable
Fraud Loss Amount.
Excess Loss: Any Excess Bankruptcy Loss, Excess Fraud
Loss or Excess Special Hazard Loss.
Excess Special Hazard Loss: Any Special Hazard Loss,
or portion thereof, (i) occurring after the Special Hazard
Termination Date or (ii) if on such date, in excess of the
then-applicable Special Hazard Loss Amount.
FDIC: The Federal Deposit Insurance Corporation, or
its successor in interest.
FHLMC: The Federal Home Loan Mortgage Corporation or
its successor in interest.
Financial Intermediary: A broker, dealer, bank or
other financial institution or other Person that clears
through or maintains a custodial relationship with a
Depository Participant.
Fitch: Fitch IBCA, Inc. and its successors.
Fitch Formula Amount: As to each Anniversary
Determination Date, the greater of (i) $50,000 and (ii) the
product of (x) the greatest Assumed Monthly Payment
Reduction for any Non-Primary Residence Loan whose original
principal balance was 80% or greater of the Original Value
thereof, (y) the weighted average remaining term to
maturity (expressed in months) of all the Non-Primary
Residence Loans remaining in the Mortgage Pool as of such
Anniversary Determination Date, and (z) the sum of (A) one
plus (B) the number of all remaining Non-Primary Residence
Loans divided by the total number of Outstanding Mortgage
Loans as of such Anniversary Determination Date.
FNMA: The Federal National Mortgage Association or its
successor in interest.
Formula Amount: As to each Anniversary Determination
Date, the greater of (i) $100,000 and (ii) the product of
(x) 0.06% and (y) the Scheduled Principal Balance of each
Mortgage Loan remaining in the Mortgage Pool whose original
principal balance was 75% or greater of the Original Value
thereof.
Fraud Coverage Termination Date: The Distribution Date
upon which the related Fraud Loss Amount has been reduced
to zero or a negative number (or the Cross-Over Date, if
earlier).
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Fraud Loss: Any Realized Loss attributable to fraud in
the origination of the related Mortgage Loan.
Fraud Loss Amount: As of any Distribution Date after
the Cut-off Date, (x) prior to the first anniversary of the
Cut-off Date, an amount equal to $4,759,237 minus the
aggregate amount of Fraud Losses that would have been
allocated to the Junior Certificates in accordance with
Section 4.03 in the absence of the Loss Allocation
Limitation since the Cut-off Date, and (y) from the first
to the fifth anniversary of the Cut-off Date, an amount
equal to (1) the lesser of (a) the Fraud Loss Amount as of
the most recent anniversary of the Cut-off Date and (b) 1%
(from the first to but excluding the third anniversaries of
the Cut-off Date) or 0.5% (from and including the third to
but excluding the fifth anniversaries of the Cut-off Date)
of the aggregate outstanding principal balance of all of
the Mortgage Loans as of the most recent anniversary of the
Cut-off Date minus (2) the Fraud Losses that would have
been allocated to the Junior Certificates in accordance
with Section 4.03 in the absence of the Loss Allocation
Limitation since the most recent anniversary of the Cut-off
Date. On or after the fifth anniversary of the Cut-off Date
the Fraud Loss Amount shall be zero.
Group I Final Distribution Date: The Distribution Date
on which the aggregate Certificate Principal Balance of the
Group I Senior Certificates is reduced to zero.
Group I Senior Certificate: Any Class A1, Class A2,
Class A3, Class A4, Class A5, Class A6, Class A7, Class A8,
Class A9, Class A10 or Class R Certificate.
Group II Senior Certificate: Any Class A11
Certificate.
Group II Senior Distribution Percentage: 0% through
the Distribution Date in September 2003; 30% thereafter
through the Distribution Date in September 2004; 40%
thereafter through the Distribution Date in September 2005;
60% thereafter through the Distribution Date in September
2006; 80% thereafter through the Distribution Date in
September 2007; and 100% thereafter.
Group II Senior Percentage: With respect to any
Distribution Date, the percentage (carried to six decimal
places) obtained by dividing (x) the aggregate Certificate
Principal Balance of the Group II Senior Certificates
immediately preceding such Distribution Date by (y) the
aggregate Certificate Principal Balance of all the Senior
Certificates (other than the Class PO Certificates)
immediately preceding such Distribution Date.
Group II Senior Principal Distribution Amount: With
respect to any Distribution Date, the product of (a) the
Senior Optimal Principal Amount for such date multiplied by
(b) the Group II Senior Percentage for such date multiplied
by (c) the Group II Senior Distribution Percentage for such
date; provided, however, that (i) on the Group I Final
Distribution Date, the Group II Senior Principal
Distribution Amount will be increased by any portion of the
Senior Optimal Principal Amount remaining after
distributions of principal have been made on the Group I
Senior Certificates and (ii) following the Group
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I Final Distribution Date, the Group II Senior Principal
Distribution Amount will equal the Senior Optimal Principal
Amount.
Initial Certificate Principal Balance: With respect to
any Certificate, other than a Notional Certificate, the
Certificate Principal Balance of such Certificate or any
predecessor Certificate on the Closing Date.
Initial LIBOR Rate: 5.65625% per annum.
Insurance Proceeds: Proceeds paid pursuant to the
Primary Insurance Policies, if any, and amounts paid by any
insurer pursuant to any other insurance policy covering a
Mortgage Loan.
Insured Expenses: Expenses covered by the Primary
Insurance Policies, if any, or any other insurance policy
or policies applicable to the Mortgage Loans.
Interest Accrual Period: With respect to any
Distribution Date and any Class of Certificates (other than
any Class of Principal Only Certificates) or Component, the
one-month period ending on the last day of the month
preceding the month in which such Distribution Date occurs.
Interest Loss: (i) With respect to any Realized Loss,
the excess of accrued and unpaid interest due on the
related Mortgage Loan over the amount allocated to interest
thereon in accordance with Section 3.08(d), and (ii) with
respect to any Debt Service Reduction and any calendar
month, the reduction in the amount of interest due on the
related Mortgage Loan during such month as a result of the
relevant bankruptcy proceeding.
The amount of any Interest Loss described in clause
(i) of the preceding paragraph will be allocated among the
Base Servicing Fee, the Supplemental Servicing Fee and the
Certificates in accordance with Section 3.08(d). The amount
of any Interest Loss described in clause (ii) of the
preceding paragraph will be allocated among the Base
Servicing Fee, the Supplemental Servicing Fee and the
Certificates in proportion to the amount of interest that
would have been allocated to the Base Servicing Fee at the
Base Servicing Fee Rate, the Supplemental Servicing Fee at
the Supplemental Servicing Fee Rate and interest at the
Remittance Rate, respectively, in the absence of the Debt
Service Reduction.
Interest Settlement Rate: With respect to any Interest
Accrual Period, the rate (expressed as a percentage per
annum) for one-month U.S. Dollar deposits reported by the
BBA at 11:00 a.m. London time on the related LIBOR
Determination Date and as it appears on the Designated
Telerate Page.
Interest Shortfall: With respect to any Distribution
Date and each Mortgage Loan that during the related
Prepayment Period was the subject of a Voluntary Principal
Prepayment or constitutes a Relief Act Mortgage Loan, an
amount determined as follows:
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(A) partial principal prepayments: one month's
interest at the applicable Net Mortgage Rate on the
amount of such prepayment;
(B) principal prepayments in full received on or
after the sixteenth day of the month preceding the
month of such Distribution Date (or, in the case of
the first Distribution Date, on or after the Cut-off
Date) but on or before the last day of the month
preceding the month of such Distribution Date, the
difference between (i) one month's interest at the
applicable Net Mortgage Rate on the Scheduled
Principal Balance of such Mortgage Loan immediately
prior to such prepayment and (ii) the amount of
interest for the calendar month of such prepayment
(adjusted to the applicable Net Mortgage Rate)
received at the time of such prepayment;
(C) principal prepayments in full received by the
Company (or of which the Company receives notice, in
the case of a Mortgage Loan serviced by a Primary
Servicer) on or after the first day but on or before
the fifteenth day of the month of such Distribution
Date: none; and
(D) Relief Act Mortgage Loans: As to any Relief
Act Mortgage Loan, the excess of (i) 30 days' interest
(or, in the case of a Principal Prepayment in full,
interest to the date of prepayment) on the Scheduled
Principal Balance thereof (or, in the case of a
Principal Prepayment in part, on the amount so
prepaid) at the related Net Mortgage Rate over (ii) 30
days' interest (or, in the case of a Principal
Prepayment in full, interest to the date of
prepayment) on such Scheduled Principal Balance (or,
in the case of a Principal Prepayment in part, on the
amount so prepaid) at the Net Mortgage Rate required
to be paid by the Mortgagor as limited by application
of the Relief Act.
For purposes of the definitions of Net Interest
Shortfall and Supplemental Servicing Fee, the amount of any
Interest Shortfall shall be allocated between the
Certificates and the Supplemental Servicing Fee in
proportion to the amount of interest that would have been
allocated to the Certificates (at the Remittance Rate) and
the Supplemental Servicing Fee (at the Supplemental
Servicing Fee Rate), respectively, in the absence of such
Interest Shortfall.
Junior Certificate: Any Class M or Class B
Certificate.
Junior Optimal Principal Amount: As to any
Distribution Date, an amount equal to the sum of the
following (but in no event greater than the aggregate
Certificate Principal Balance of the Junior Certificates
immediately prior to such Distribution Date):
(i) the Junior Percentage of the applicable Non-PO
Percentage of the principal portion of each Monthly Payment
due on the related Due Date on each Outstanding Mortgage
Loan as of such Due Date as specified in the amortization
schedule at the time applicable thereto (after adjustment
for previous Principal Prepayments and the principal
portion of Debt Service Reductions subsequent to the
Bankruptcy Coverage Termination Date but before any
adjustment to such amortization
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<PAGE>
schedule by reason of any bankruptcy (other than as
aforesaid) or similar proceeding or any moratorium or
similar waiver or grace period);
(ii) the Junior Prepayment Percentage of the
applicable Non-PO Percentage of all principal prepayments
in part received during the related Prepayment Period, and
100% of any Senior Optimal Principal Amount not distributed
to the Senior Certificates on such Distribution Date,
together with the Junior Prepayment Percentage of the
applicable Non-PO Percentage of the Scheduled Principal
Balance of each Mortgage Loan which was the subject of a
Voluntary Principal Prepayment in full during the related
Prepayment Period;
(iii) the excess, if any, of (x) the applicable
Non-PO Percentage of the sum of (A) all Net Liquidation
Proceeds allocable to principal received during the related
Prepayment Period (other than in respect of Mortgage Loans
described in clause (B)) and (B) the principal balance of
each Mortgage Loan that was purchased by an insurer from
the Trustee during the related Prepayment Period pursuant
to the related Primary Insurance Policy, over (y) the
amount distributable pursuant to clause (iii) of the
definition of Senior Optimal Principal Amount on such
Distribution Date;
(iv) the Junior Prepayment Percentage of the
applicable Non-PO Percentage of the Scheduled Principal
Balance of each Mortgage Loan which was purchased on such
Distribution Date pursuant to Section 2.02, 2.03(a) or
3.16; and
(v) the Junior Prepayment Percentage of the applicable
Non-PO Percentage of the Substitution Amount for any
Mortgage Loan substituted during the month of such
Distribution Date.
For purposes of clause (ii) above, a Voluntary
Principal Prepayment in full with respect to a Mortgage
Loan serviced by a Primary Servicer shall be deemed to have
been received when the Company, as servicer, receives
notice thereof.
After the Class Certificate Principal Balances of the
Junior Certificates have been reduced to zero, the Junior
Optimal Principal Amount shall be zero.
Junior Percentage: As to any Distribution Date, the
excess of 100% over the Senior Percentage for such
Distribution Date.
Junior Prepayment Percentage: As to any Distribution
Date, the excess of 100% over the Senior Prepayment
Percentage for such Distribution Date, except that (i)
after the aggregate Certificate Principal Balance of the
Senior Certificates other than the Class PO Certificates
has been reduced to zero, the Junior Prepayment Percentage
shall be 100%, and (ii) after the Cross-Over Date, the
Junior Prepayment Percentage shall be zero.
Latest Possible Maturity Date: September 25, 2030.
LIBOR: With respect to any Interest Accrual Period,
the per annum rate determined, pursuant to Section 5.08, on
the basis of the Interest Settlement Rate or as otherwise
provided in such Section.
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LIBOR Certificate: Any Class A3 or Class A4
Certificate.
LIBOR Determination Date: The second London Banking
Day immediately preceding the commencement of each Interest
Accrual Period for any LIBOR Certificates.
Liquidated Mortgage Loan: Any defaulted Mortgage Loan
as to which the Company has determined that all amounts
which it expects to recover on behalf of the Trust Fund
from or on account of such Mortgage Loan have been
recovered, including any Mortgage Loan with respect to
which the Company determines not to foreclose upon the
related Mortgaged Property based on its belief that such
Mortgaged Property may be contaminated with or affected by
hazardous or toxic wastes, materials or substances.
Liquidation Expenses: Expenses which are incurred by
the Company in connection with the liquidation of any
defaulted Mortgage Loan and not recovered by the Company
under any Primary Insurance Policy for reasons other than
the Company's failure to comply with Section 3.05, such
expenses including, without limitation, legal fees and
expenses, and, regardless of when incurred, any
unreimbursed amount expended by the Company pursuant to
Section 3.03 or Section 3.06 respecting the related
Mortgage Loan and any related and unreimbursed Property
Protection Expenses.
Liquidation Proceeds: Cash (other than Insurance
Proceeds) received in connection with the liquidation of
any defaulted Mortgage Loan whether through judicial
foreclosure or otherwise.
Loan-to-Value Ratio: With respect to each Mortgage
Loan, the original principal amount of such Mortgage Loan,
divided by the Original Value of the related Mortgaged
Property.
London Banking Day: Any day on which banks are open
for dealing in foreign currency and exchange in London,
England.
Loss Allocation Limitation: As defined in Section
4.03(g).
MLCC: Merrill Lynch Credit Corporation, or its
successor in interest.
Monthly Advance: With respect to any Distribution
Date, the aggregate of the advances required to be made by
the Company pursuant to Section 4.04(a) (or by the Trustee
pursuant to Section 4.04(b)) on such Distribution Date, the
amount of any such Monthly Advance being equal to (a) the
aggregate of payments of principal and interest (adjusted
to the related Remittance Rate) on the Mortgage Loans that
were due on the related Due Date, without regard to any
arrangements entered into by the Company with the related
Mortgagors pursuant to Section 3.02(a)(ii), and delinquent
as of the close of business on the Business Day next
preceding the related Determination Date, less (b) the
amount of any such payments which the Company or the
Trustee, as applicable, in its reasonable judgment believes
will not be ultimately recoverable by it either out of late
payments by the Mortgagor, Net Liquidation Proceeds,
Insurance Proceeds, REO
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<PAGE>
Proceeds or otherwise. With respect to any Mortgage Loan,
the portion of any such advance or advances made with
respect thereto.
Monthly Payment: The scheduled monthly payment on a
Mortgage Loan for any month allocable to principal or
interest on such Mortgage Loan.
Moody's: Moody's Investors Service, Inc. and its
successors.
Mortgage: The mortgage or deed of trust creating a
first lien on a fee simple interest or leasehold estate in
real property securing a Mortgage Note.
Mortgage 100SM Loan: A Mortgage Loan identified on
Exhibit N hereof that has a Loan-to-Value Ratio at
origination in excess of 80.00% and that is secured by
Additional Collateral and does not have a Primary Insurance
Policy.
Mortgage File: The mortgage documents listed in
Section 2.01 pertaining to a particular Mortgage Loan and
any additional documents required to be added to such
documents pursuant to this Agreement.
Mortgage Loan Payment Record: The record maintained by
the Company pursuant to Section 3.02(b).
Mortgage Loan Schedule: As of any date of
determination, the schedule of Mortgage Loans included in
the Trust Fund. The initial schedule of Mortgage Loans as
of the Cut-off Date is attached hereto as Exhibit C.
Mortgage Loans: As of any date of determination, each
of the mortgage loans identified on the Mortgage Loan
Schedule (as amended pursuant to Section 2.03(b)) delivered
and assigned to the Trustee pursuant to Section 2.01 or
2.03(b), and not theretofore released from the Trust Fund
by the Trustee.
Mortgage Note: With respect to any Mortgage Loan, the
note or other evidence of indebtedness (which may consist
of a Confirmatory Mortgage Note) evidencing the
indebtedness of a Mortgagor under such Mortgage Loan.
Mortgage Pool: The aggregate of the Mortgage Loans
identified in the Mortgage Loan Schedule.
Mortgage Rate: The per annum rate of interest borne by
a Mortgage Loan as set forth in the related Mortgage Note.
Mortgaged Property: The underlying real property
securing the Mortgage Loan, or with respect to a
Cooperative Loan, the related Proprietary Lease and
Cooperative Stock.
Mortgagor: With respect to any Mortgage Loan, each
obligor on the related Mortgage Note.
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<PAGE>
Net Interest Shortfall: With respect to any
Distribution Date, the excess, if any, of the aggregate
Interest Shortfalls allocable to the Certificates (as
determined in accordance with the definition of Interest
Shortfall) for such Distribution Date over any Compensating
Interest Payment for such date.
Net Liquidation Proceeds: As to any Liquidated
Mortgage Loan, the sum of (i) any Liquidation Proceeds
therefor less the related Liquidation Expenses, and (ii)
any Insurance Proceeds therefor, other than any such
Insurance Proceeds applied to the restoration of the
related Mortgaged Property.
Net Mortgage Rate: With respect to any Mortgage Loan,
the related Mortgage Rate less the applicable Base
Servicing Fee Rate.
Non-Book-Entry Certificate: Any Certificate other than
a Book-Entry Certificate.
Non-Credit Loss: Any Fraud Loss, Special Hazard Loss
or Deficient Valuation.
Non-Discount Mortgage Loan: Any Mortgage Loan with a
Net Mortgage Rate greater than or equal to 6.75% per annum.
Non-permitted Foreign Holder: As defined in Section
5.02(b).
Non-PO Percentage: As to any Discount Mortgage Loan, a
fraction (expressed as a percentage), the numerator of
which is the Net Mortgage Rate of such Discount Mortgage
Loan and the denominator of which is 6.75%. As to any
Non-Discount Mortgage Loan, 100%.
Non-Primary Residence Loan: Any Mortgage Loan secured
by a Mortgaged Property that is (on the basis of
representations made by the Mortgagors at origination) a
second home or investor-owned property.
Nonrecoverable Advance: All or any portion of any
Monthly Advance or Monthly Advances previously made by the
Company (or the Trustee) which, in the reasonable judgment
of the Company (or, as applicable, the Trustee) will not be
ultimately recoverable from related Net Liquidation
Proceeds, Insurance Proceeds, REO Proceeds or otherwise.
The determination by the Company that it has made a
Nonrecoverable Advance or that any advance, if made, would
constitute a Nonrecoverable Advance, shall be evidenced by
an Officer's Certificate of the Company delivered to the
Trustee and detailing the reasons for such determination.
Non-U.S. Person: As defined in Section 4.02(c).
Notional Certificate: None.
Notional Component: None.
Notional Component Balance: None.
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Notional Principal Balance: None.
Officer's Certificate: A certificate signed by the
President, a Senior Vice President or a Vice President of
the Company and delivered to the Trustee.
Opinion of Counsel: A written opinion of counsel, who
may be counsel for the Company; provided, however, that any
Opinion of Counsel with respect to the interpretation or
application of the REMIC Provisions or the status of an
account as an Eligible Account shall be the opinion of
independent counsel satisfactory to the Trustee.
Original Subordinate Principal Balance: As set forth
in the definition of Senior Prepayment Percentage.
Original Value: The value of the property underlying a
Mortgage Loan based, in the case of the purchase of the
underlying Mortgaged Property, on the lower of an appraisal
satisfactory to the Company or the sales price of such
property or, in the case of a refinancing, on an appraisal
satisfactory to the Company.
Outstanding Mortgage Loan: With respect to any Due
Date, a Mortgage Loan which, prior to such Due Date, was
not the subject of a Principal Prepayment in full, did not
become a Liquidated Mortgage Loan and was not purchased
pursuant to Section 2.02, 2.03(a) or 3.16 or replaced
pursuant to Section 2.03(b).
Outstanding Non-Discount Mortgage Loan: Any
Outstanding Mortgage Loan that is a Non-Discount Mortgage
Loan.
PAC Balance: As to any Distribution Date and any Class
of PAC Certificates and any PAC Component, the balance
designated as such for such Distribution Date and such
Class or Component as set forth in the Principal Balance
Schedules.
PAC Certificate: None.
PAC Component: None.
Parent PowerSM Loan: A Mortgage Loan identified on
Exhibit N hereto that has a Loan-to-Value Ratio at
origination in excess of 80.00%, that is supported by
Additional Collateral and does not have a Primary Insurance
Policy.
Pay-out Rate: With respect to any Class of
Certificates (other than any Class of Principal Only
Certificates) and any Distribution Date, the rate at which
interest is distributed on such Class on such Distribution
Date and which is equal to a fraction (expressed as an
annualized percentage) the numerator of which is the
Accrued Certificate Interest for such Class and
Distribution Date, and the denominator of which is the
Class Certificate Principal Balance (or, in the case of the
Notional Certificates, the Notional Principal Balance) of
such Class immediately prior to such Distribution Date.
Percentage Interest: With respect to any Certificate,
the percentage interest in the undivided beneficial
ownership interest in the Trust Fund evidenced by
Certificates of the
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<PAGE>
same Class as such Certificate. With respect to any
Certificate, the Percentage Interest evidenced thereby
shall equal the Initial Certificate Principal Balance (or,
in the case of a Notional Certificate, the initial Notional
Principal Balance) thereof divided by the aggregate Initial
Certificate Principal Balance (or, in the case of a
Notional Certificate, the aggregate initial Notional
Principal Balance) of all Certificates of the same Class.
Permitted Investments: One or more of the following;
provided, however, that no such Permitted Investment may
mature later than the Business Day preceding the
Distribution Date after such investment except as otherwise
provided in Section 3.02(e) hereof, provided, further, that
such investments qualify as "cash flow investments" as
defined in section 860G(a)(6) of the Code:
(i) obligations of, or guaranteed as to timely receipt
of principal and interest by, the United States or any
agency or instrumentality thereof when such obligations are
backed by the full faith and credit of the United States;
(ii) repurchase agreements on obligations specified in
clause (i) provided that the unsecured obligations of the
party agreeing to repurchase such obligations are at the
time rated by each Rating Agency in the highest long-term
rating category;
(iii) federal funds, certificates of deposit, time
deposits and banker's acceptances, of any U.S. depository
institution or trust company incorporated under the laws of
the United States or any state provided that the debt
obligations of such depository institution or trust company
at the date of acquisition thereof have been rated by each
Rating Agency in the highest long-term rating category;
(iv) commercial paper of any corporation incorporated
under the laws of the United States or any state thereof
which on the date of acquisition has the highest short term
rating of each Rating Agency; and
(v) other obligations or securities that are
acceptable to each Rating Agency as a Permitted Investment
hereunder and will not, as evidenced in writing, result in
a reduction or withdrawal in the then current rating of the
Certificates.
Notwithstanding the foregoing, Permitted Investments
shall not include "stripped securities" and investments
which contractually may return less than the purchase price
therefor.
Person: Any legal person, including any individual,
corporation, partnership, limited liability company, joint
venture, association, joint-stock company, trust,
unincorporated organization or government or any agency or
political subdivision thereof.
Plan: Any Person which is an employee benefit plan
subject to ERISA or a plan subject to section 4975 of the
Code.
Pledged Asset Loan-to-Value Ratio: With respect to any
Pledged Asset Mortgage Loan, (i) the original loan amount
less the portion of any required Additional Collateral
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<PAGE>
which is covered by the Surety Bond, divided by (ii) the
Original Value of the related Mortgaged Property.
Pledged Asset Mortgage Loan: Each Mortgage 100SM Loan
and Parent PowerSM Loan purchased from MLCC that is
supported by Additional Collateral and identified on
Exhibit N hereto.
Pledged Asset Mortgage Servicing Agreement: The
Amended and Restated Pledged Asset Mortgage Servicing
Agreement, dated as of June 2, 1998, between MLCC and the
Company.
PO Percentage: As to any Discount Mortgage Loan, a
fraction (expressed as a percentage), the numerator of
which is the excess of 6.75% over the Net Mortgage Rate of
such Discount Mortgage Loan and the denominator of which is
6.75%. As to any Non-Discount Mortgage Loan, 0%.
PO Principal Distribution Amount: As to any
Distribution Date, an amount equal to the sum of the
applicable PO Percentage of:
(i) the principal portion of each Monthly Payment
due on the related Due Date on each Outstanding Mortgage
Loan as of such Due Date as specified in the amortization
schedule at the time applicable thereto (after adjustments
for previous Principal Prepayments and the principal
portion of Debt Service Reductions subsequent to the
Bankruptcy Coverage Termination Date but before any
adjustment to such amortization schedule by reason of any
bankruptcy (except as aforesaid) or similar proceeding or
any moratorium or similar waiver or grace period);
(ii) all principal prepayments in part received during
the related Prepayment Period, together with the Scheduled
Principal Balance (as reduced by any Deficient Valuation
occurring on or prior to the Bankruptcy Coverage
Termination Date) of each Mortgage Loan which was the
subject of a Voluntary Principal Prepayment in full during
the related Prepayment Period;
(iii) the sum of (A) all Net Liquidation Proceeds
allocable to principal received in respect of each Mortgage
Loan that became a Liquidated Mortgage Loan during the
related Prepayment Period (other than Mortgage Loans
described in clause (B)) and (B) the principal balance of
each Mortgage Loan purchased by an insurer from the Trustee
pursuant to the related Primary Insurance Policy, in each
case during the related Prepayment Period;
(iv) the Scheduled Principal Balance (as reduced by
any Deficient Valuation occurring on or prior to the
Bankruptcy Coverage Termination Date) of each Mortgage Loan
which was purchased on such Distribution Date pursuant to
Section 2.02, 2.03(a) or 3.16; and
(v) the Substitution Amount for any Mortgage Loan
substituted during the month of such Distribution Date; for
purposes of this clause (v), the definition of
"Substitution Amount" shall be modified to reduce the
Scheduled Principal Balance of
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the Mortgage Loan that is substituted for by any Deficient
Valuation occurring on or prior to the Bankruptcy Coverage
Termination Date.
For purposes of clause (ii) above, a Voluntary
Principal Prepayment in full with respect to a Mortgage Loan
serviced by a Primary Servicer shall be deemed to have been
received when the Company, as servicer, receives notice thereof.
Pool Scheduled Principal Balance: With respect to any
Distribution Date, the aggregate Scheduled Principal
Balance of all the Mortgage Loans that were Outstanding
Mortgage Loans on the Due Date in the month next preceding
the month of such Distribution Date (or, in the case of the
first Distribution Date, the Cut-off Date; or, if so
specified, such other date).
Prepayment Assumption: The assumed fixed schedule of
prepayments on a pool of new mortgage loans with such
schedule given as a monthly sequence of prepayment rates,
expressed as annualized percent values. These values start
at 0.2% per year in the first month, increase by 0.2% per
year in each succeeding month until month 30, ending at
6.0% per year. At such time, the rate remains constant at
6.0% per year for the balance of the remaining term.
Multiples of the Prepayment Assumption are calculated from
this prepayment rate series.
Prepayment Assumption Multiple: 275% of the Prepayment
Assumption.
Prepayment Distribution Trigger: As of any
Distribution Date and as to each Class of Class B
Certificates, the related Prepayment Distribution Trigger
is satisfied if (x) the fraction, expressed as a
percentage, the numerator of which is the aggregate Class
Certificate Principal Balance of such Class and each Class
subordinate thereto, if any, on such Distribution Date, and
the denominator of which is the Pool Scheduled Principal
Balance for such Distribution Date, equals or exceeds (y)
such percentage calculated as of the Closing Date.
Prepayment Interest Excess: As to any Voluntary
Principal Prepayment in full received from the first day
through the fifteenth day of any calendar month (other than
the calendar month in which the Cut-off Date occurs), all
amounts paid in respect of interest on such Principal
Prepayment. For purposes of determining the amount of
Prepayment Interest Excess for any month, a Voluntary
Principal Prepayment in full with respect to a Mortgage
Loan serviced by a Primary Servicer shall be deemed to have
been received when the Company, as servicer, receives
notice thereof. All Prepayment Interest Excess shall be
retained by the Company, as servicer, as additional
servicing compensation.
Prepayment Period: With respect to any Distribution
Date and any Voluntary Principal Prepayment in part or
other Principal Prepayment other than a Voluntary Principal
Prepayment in full, the calendar month preceding the month
of such Distribution Date; with respect to any Distribution
Date and any Voluntary Principal Prepayment in full, the
period beginning on the sixteenth day of the calendar month
preceding the month of such Distribution Date (or, in the
case of the first Distribution
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<PAGE>
Date, beginning on the Cut-off Date) and ending on the
fifteenth day of the month in which such Distribution Date
occurs.
Primary Insurance Policy: The certificate of private
mortgage insurance relating to a particular Mortgage Loan,
or an electronic screen print setting forth the information
contained in such certificate of private mortgage
insurance, including, without limitation, information
relating to the name of the mortgage insurance carrier, the
certificate number, the loan amount, the property address,
the effective date of coverage, the amount of coverage and
the expiration date of the policy. Each such policy covers
defaults by the Mortgagor, which coverage shall equal the
portion of the unpaid principal balance of the related
Mortgage Loan that exceeds 75% (or such lesser coverage
required or permitted by FNMA or FHLMC) of the Original
Value of the underlying Mortgaged Property.
Primary Servicer: Any servicer with which the Company
has entered into a servicing agreement, as described in
Section 3.01(f).
Principal Balance Schedules: Any principal balance
schedules attached hereto, if applicable, as Exhibit B,
setting forth the PAC Balances of any PAC Certificates and
PAC Components, the TAC Balances of any TAC Certificates
and TAC Components and the Scheduled Balances of any
Scheduled Certificates and Scheduled Components.
Principal Only Certificate: Any Class PO Certificate.
Principal Only Component: None.
Principal Prepayment: Any payment or other recovery of
principal on a Mortgage Loan (including, for this purpose,
any refinancing permitted by Section 3.01 and any REO
Proceeds treated as such pursuant to Section 3.08(b)) which
is received in advance of its scheduled Due Date and is not
accompanied by an amount of interest representing scheduled
interest for any month subsequent to the month of
prepayment.
Private Placement Memorandum: The private placement
memorandum relating to the Restricted Junior Certificates
dated September 23, 1998.
Prohibited Transaction Exemption: U.S. Department of
Labor Prohibited Transaction Exemption 89-89, 55 Fed. Reg.
42589, October 17, 1989.
Property Protection Expenses: With respect to any
Mortgage Loan, expenses paid or incurred by or for the
account of the Company in accordance with the related
Mortgage for (a) real estate property taxes and property
repair, replacement, protection and preservation expenses
and (b) similar expenses reasonably paid or incurred to
preserve or protect the value of such Mortgage to the
extent the Company is not reimbursed therefor pursuant to
the Primary Insurance Policy, if any, or any other
insurance policy with respect thereto.
Proprietary Lease: With respect to a Cooperative Loan,
the proprietary lease(s) or occupancy agreement with
respect to the Cooperative Apartment occupied by the
Mortgagor and relating to the related Cooperative Stock,
which lease or agreement
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confers an exclusive right to the holder of such
Cooperative Stock to occupy such apartment.
Purchase Price: With respect to any Mortgage Loan
required or permitted to be purchased hereunder from the
Trust Fund, an amount equal to 100% of the unpaid principal
balance thereof plus interest thereon at the applicable
Mortgage Rate from the date to which interest was last paid
to the first day of the month in which such purchase price
is to be distributed; provided, however, that if the
Company is the servicer hereunder, such purchase price
shall be net of unreimbursed Monthly Advances with respect
to such Mortgage Loan, and the interest component of the
Purchase Price may be computed on the basis of the
Remittance Rate for such Mortgage Loan.
QIB: A "qualified institutional buyer" as defined in
Rule 144A under the Securities Act of 1933, as amended.
Rating Agency: Any statistical credit rating agency,
or its successor, that rated any of the Certificates at the
request of the Company at the time of the initial issuance
of the Certificates. If such agency or a successor is no
longer in existence, "Rating Agency" shall be such
statistical credit rating agency, or other comparable
Person, designated by the Company, notice of which
designation shall be given to the Trustee. References
herein to the two highest long-term rating categories of a
Rating Agency shall mean such ratings without any
modifiers. As of the date of the initial issuance of the
Certificates, the Rating Agencies are Fitch and S&P; except
that for purposes of the Junior Certificates, other than
the Class B5 Certificates, Fitch shall be the sole Rating
Agency. The Class B5 Certificates are issued without
ratings.
Realized Loss: Any (i) Deficient Valuation or (ii) as
to any Liquidated Mortgage Loan, (x) the unpaid principal
balance of such Liquidated Mortgage Loan plus accrued and
unpaid interest thereon at the Net Mortgage Rate through
the last day of the month of such liquidation less (y) the
related Liquidation Proceeds and Insurance Proceeds (as
reduced by the related Liquidation Expenses).
Record Date: The last Business Day of the month
immediately preceding the month of the related Distribution
Date.
Reference Banks: As defined in Section 5.08.
Relief Act: The Soldiers' and Sailors' Civil Relief
Act of 1940, as amended.
Relief Act Mortgage Loan: Any Mortgage Loan as to
which the Monthly Payment thereof has been reduced due to
the application of the Relief Act.
REMIC: A "real estate mortgage investment conduit"
within the meaning of section 860D of the Code.
REMIC Provisions: Provisions of the federal income tax
law relating to real estate mortgage investment conduits,
which appear at sections 860A through 860G of Part IV of
Subchapter M of Chapter 1 of the Code, and related
provisions, and U.S.
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Office of the Treasury temporary or final regulations
promulgated thereunder, as the foregoing may be in effect
from time to time, as well as provisions of applicable
state laws.
Remittance Rate: With respect to any Mortgage Loan,
the related Mortgage Rate less the sum of the applicable
Base Servicing Fee Rate and the Supplemental Servicing Fee
Rate.
REO Mortgage Loan: Any Mortgage Loan which is not a
Liquidated Mortgage Loan and as to which the related
Mortgaged Property is held as part of the Trust Fund.
REO Proceeds: Proceeds, net of any related expenses of
the Company, received in respect of any REO Mortgage Loan
(including, without limitation, proceeds from the rental of
the related Mortgaged Property).
Required Surety Payment: With respect to any Pledged
Asset Mortgage Loan that becomes a Liquidated Mortgage
Loan, the lesser of (i) the principal portion of the
Realized Loss with respect to such Mortgage Loan and (ii)
the excess, if any, of (a) the amount of Additional
Collateral required at origination with respect to such
Mortgage Loan which is covered by the Surety Bond over (b)
the net proceeds realized by MLCC from the liquidation of
the related Additional Collateral.
Reserve Fund: None.
Reserve Interest Rate: As defined in Section 5.08.
Residual Certificate: Any Class R Certificate.
Responsible Officer: When used with respect to the
Trustee, any officer or assistant officer assigned to and
working in the Corporate Trust Department of the Trustee
and, also, with respect to a particular matter, any other
officer to whom such matter is referred because of such
officer's knowledge of and familiarity with the particular
subject.
Restricted Certificate: Any Restricted Junior
Certificate or Class PO Certificate.
Restricted Junior Certificate: Any Class B3, Class B4
or Class B5 Certificate.
S&P: Standard & Poor's Ratings Services, a division of
The McGraw-Hill Companies, Inc., and its successors.
SAIF: The Savings Association Insurance Fund of the
FDIC, or its successor in interest.
Scheduled Balance: As to any Distribution Date and any
Class of Scheduled Certificates and any Scheduled
Component, the balance designated as such for such
Distribution Date and such Class or Component as set forth
in the Principal Balance Schedules.
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Scheduled Certificate: None.
Scheduled Component: None.
Scheduled Principal Balance: As to any Mortgage Loan
and Distribution Date, the principal balance of such
Mortgage Loan as of the Due Date in the month next
preceding the month of such Distribution Date (or, if so
specified, such other date) as specified in the
amortization schedule at the time relating to such Mortgage
Loan (before any adjustment to such amortization schedule
by reason of any bankruptcy or similar proceeding or any
moratorium or similar waiver or grace period) after giving
effect to any previous Principal Prepayments, Deficient
Valuations incurred subsequent to the Bankruptcy Coverage
Termination Date, adjustments due to the application of the
Relief Act and the payment of principal due on such Due
Date, irrespective of any delinquency in payment by the
related Mortgagor. As to any Mortgage Loan and the Cut-off
Date, the "unpaid balance" thereof specified in the initial
Mortgage Loan Schedule.
Security Agreement: With respect to a Cooperative
Loan, the agreement creating a security interest in favor
of the originator in the related Cooperative Stock and
Proprietary Lease.
Senior Certificate: Any Certificate other than a
Junior Certificate.
Senior Certificate Principal Balance: As of any
Distribution Date, an amount equal to the sum of the
Certificate Principal Balances of the Senior Certificates
(other than any Class PO Certificates).
Senior Optimal Principal Amount: As to any
Distribution Date, an amount equal to the sum of:
(i) the Senior Percentage of the applicable Non-PO
Percentage of the principal portion of each Monthly Payment
due on the related Due Date on each Outstanding Mortgage
Loan as of such Due Date as specified in the amortization
schedule at the time applicable thereto (after adjustments
for previous Principal Prepayments and the principal
portion of Debt Service Reductions subsequent to the
Bankruptcy Coverage Termination Date but before any
adjustment to such amortization schedule by reason of any
bankruptcy (except as aforesaid) or similar proceeding or
any moratorium or similar waiver or grace period);
(ii) the Senior Prepayment Percentage of the
applicable Non-PO Percentage of all principal prepayments
in part received during the related Prepayment Period,
together with the Senior Prepayment Percentage of the
applicable Non-PO Percentage of the Scheduled Principal
Balance of each Mortgage Loan which was the subject of a
Voluntary Principal Prepayment in full during the related
Prepayment Period;
(iii) the lesser of (x) the Senior Percentage of the
applicable Non-PO Percentage of the sum of (A) the
Scheduled Principal Balance of each Mortgage Loan that
became a Liquidated Mortgage Loan (other than Mortgage
Loans described in clause (B)) during the related
Prepayment Period and (B) the Scheduled Principal Balance
of
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each Mortgage Loan that was purchased by an insurer from
the Trustee during the related Prepayment Period pursuant
to the related Primary Insurance Policy, as reduced in each
case by the Senior Percentage of the applicable Non-PO
Percentage of the principal portion of any Excess Losses
(other than Excess Bankruptcy Losses attributable to Debt
Service Reductions), and (y) the Senior Prepayment
Percentage of the applicable Non-PO Percentage of the sum
of (A) all Net Liquidation Proceeds allocable to principal
received in respect of each such Liquidated Mortgage Loan
(other than Mortgage Loans described in clause (B)) and (B)
the principal balance of each such Mortgage Loan purchased
by an insurer from the Trustee pursuant to the related
Primary Insurance Policy, in each case during the related
Prepayment Period;
(iv) the Senior Prepayment Percentage of the
applicable Non-PO Percentage of the Scheduled Principal
Balance of each Mortgage Loan which was purchased on such
Distribution Date pursuant to Section 2.02, 2.03(a) or
3.16; and
(v) the Senior Prepayment Percentage of the applicable
Non-PO Percentage of the Substitution Amount for any
Mortgage Loan substituted during the month of such
Distribution Date.
For purposes of clause (ii) above, a Voluntary
Principal Prepayment in full with respect to a Mortgage Loan
serviced by a Primary Servicer shall be deemed to have been
received when the Company, as servicer, receives notice thereof.
Senior Percentage: As to any Distribution Date, the
lesser of (i) 100% and (ii) the percentage (carried to ten
places rounded up) obtained by dividing the Senior
Certificate Principal Balance immediately prior to such
Distribution Date by an amount equal to the sum of the
Certificate Principal Balances of all the Certificates
other than any Class PO Certificates immediately prior to
such Distribution Date.
Senior Prepayment Percentage: For any Distribution
Date occurring prior to the fifth anniversary of the first
Distribution Date, 100%. For any Distribution Date
occurring on or after the fifth anniversary of the first
Distribution Date, an amount as follows:
(i) for any Distribution Date subsequent to September
2003 to and including the Distribution Date in September
2004, the Senior Percentage for such Distribution Date plus
70% of the Junior Percentage for such Distribution Date;
(ii) for any Distribution Date subsequent to September
2004 to and including the Distribution Date in September
2005, the Senior Percentage for such Distribution Date plus
60% of the Junior Percentage for such Distribution Date;
(iii) for any Distribution Date subsequent to
September 2005 to and including the Distribution Date in
September 2006, the Senior Percentage for such Distribution
Date plus 40% of the Junior Percentage for such
Distribution Date;
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<PAGE>
(iv) for any Distribution Date subsequent to September
2006 to and including the Distribution Date in September
2007, the Senior Percentage for such Distribution Date plus
20% of the Junior Percentage for such Distribution Date;
and
(v) for any Distribution Date thereafter, the Senior
Percentage for such Distribution Date.
Notwithstanding the foregoing, if on any Distribution
Date the Senior Percentage exceeds the Senior Percentage as
of the Closing Date, the Senior Prepayment Percentage for
such Distribution Date will equal 100%.
In addition, notwithstanding the foregoing, no
reduction of the Senior Prepayment Percentage below the
level in effect for the most recent prior period as set
forth in clauses (i) through (iv) above shall be effective
on any Distribution Date unless at least one of the
following two tests is satisfied:
Test I: If, as of the last day of the month preceding
such Distribution Date, (i) the aggregate Scheduled
Principal Balance of Mortgage Loans delinquent 60 days or
more (including for this purpose any Mortgage Loans in
foreclosure and REO Mortgage Loans) as a percentage of the
aggregate Class Certificate Principal Balance of the Junior
Certificates as of such date, does not exceed 50%, and (ii)
cumulative Realized Losses with respect to the Mortgage
Loans do not exceed (a) 30% of the aggregate Class
Certificate Principal Balance of the Junior Certificates as
of the Closing Date (the "Original Subordinate Principal
Balance") if such Distribution Date occurs between and
including October 2003 and September 2004, (b) 35% of the
Original Subordinate Principal Balance if such Distribution
Date occurs between and including October 2004 and
September 2005, (c) 40% of the Original Subordinate
Principal Balance if such Distribution Date occurs between
and including October 2005 and September 2006, (d) 45% of
the Original Subordinate Principal Balance if such
Distribution Date occurs between and including October 2006
and September 2007 and (e) 50% of the Original Subordinate
Principal Balance if such Distribution Date occurs during
or after October 2007; or
Test II: If, as of the last day of the month preceding
such Distribution Date, (i) the aggregate Scheduled
Principal Balance of Mortgage Loans delinquent 60 days or
more (including for this purpose any Mortgage Loans in
foreclosure and REO Mortgage Loans) averaged over the last
three months, as a percentage of the aggregate Scheduled
Principal Balance of Mortgage Loans averaged over the last
three months, does not exceed 4%, and (ii) cumulative
Realized Losses with respect to the Mortgage Loans do not
exceed (a) 10% of the Original Subordinate Principal
Balance if such Distribution Date occurs between and
including October 2003 and September 2004, (b) 15% of the
Original Subordinate Principal Balance if such Distribution
Date occurs between and including October 2004 and
September 2005, (c) 20% of the Original Subordinate
Principal Balance if such Distribution Date occurs between
and including October 2005 and September 2006, (d) 25% of
the Original Subordinate Principal Balance if such
Distribution Date occurs between and including October 2006
and September 2007, and
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(e) 30% of the Original Subordinate Principal Balance if
such Distribution Date occurs during or after October 2007.
Servicer's Certificate: A certificate, completed by
and executed on behalf of the Company by a Servicing
Officer in accordance with Section 4.06, substantially in
the form of Exhibit D hereto or in such other form as the
Company and the Trustee shall agree.
Servicing Fee: As to any Mortgage Loan and
Distribution Date, the sum of (a) the Base Servicing Fee
and (b) the Supplemental Servicing Fee.
Servicing Officer: Any officer of the Company involved
in, or responsible for, the administration and servicing of
the Mortgage Loans whose name appears on a list of
servicing officers attached to an Officer's Certificate
furnished to the Trustee by the Company, as such list may
from time to time be amended.
Single Certificate: A Certificate with an Initial
Certificate Principal Balance, or initial Notional
Principal Balance, of $1,000 or, in the case of a Class of
Certificates issued with an initial Class Certificate
Principal Balance or initial Notional Principal Balance of
less than $1,000, such lesser amount.
Special Hazard Loss: (i) A Realized Loss suffered by a
Mortgaged Property on account of direct physical loss,
exclusive of (a) any loss covered by a hazard policy or a
flood insurance policy required to be maintained in respect
of such Mortgaged Property under Section 3.06 and (b) any
loss caused by or resulting from:
(A) normal wear and tear;
(B) conversion or other dishonest act on the part
of the Trustee, the Company or any of their agents or
employees; or
(C) errors in design, faulty workmanship or
faulty materials, unless the collapse of the property or a
part thereof ensues;
or (ii) any Realized Loss suffered by the Trust Fund
arising from or related to the presence or suspected
presence of hazardous wastes or hazardous substances on a
Mortgaged Property unless such loss to a Mortgaged Property
is covered by a hazard policy or a flood insurance policy
required to be maintained in respect of such Mortgaged
Property under Section 3.06.
Special Hazard Loss Amount: As of any Distribution
Date, an amount equal to $4,759,237 minus the sum of (i)
the aggregate amount of Special Hazard Losses that would
have been allocated to the Junior Certificates in
accordance with Section 4.03 in the absence of the Loss
Allocation Limitation and (ii) the Adjustment Amount (as
defined below) as most recently calculated. On each
anniversary of the Cut-off Date, the "Adjustment Amount"
shall be equal to the amount, if any, by which the amount
calculated in accordance with the preceding sentence
(without giving effect to the deduction of the Adjustment
Amount for such anniversary) exceeds the lesser of (x) the
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greater of (A) the product of the Special Hazard Percentage
for such anniversary multiplied by the outstanding
principal balance of all the Mortgage Loans on the
Distribution Date immediately preceding such anniversary
and (B) twice the outstanding principal balance of the
Mortgage Loan which has the largest outstanding principal
balance on the Distribution Date immediately preceding such
anniversary, and (y) an amount calculated by the Company
and approved by each Rating Agency, which amount shall not
be less than $500,000.
Special Hazard Percentage: As of each anniversary of
the Cut-off Date, the greater of (i) 1.00% and (ii) the
largest percentage obtained by dividing (x) the aggregate
outstanding principal balance (as of the immediately
preceding Distribution Date) of the Mortgage Loans secured
by Mortgaged Properties located in a single, five-digit zip
code area in the State of California by (y) the outstanding
principal balance of all the Mortgage Loans as of the
immediately preceding Distribution Date.
Special Hazard Termination Date: The Distribution Date
upon which the Special Hazard Loss Amount has been reduced
to zero or a negative number (or the Cross-Over Date, if
earlier).
Specified Component: None.
Startup Day: As defined in Section 2.06(c).
Subordinate Certificates: As to any date of
determination, first, the Class B5 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero; second, the Class B4 Certificates until
the Class Certificate Principal Balance thereof has been
reduced to zero; third, the Class B3 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero; fourth, the Class B2 Certificates until
the Class Certificate Principal Balance thereof has been
reduced to zero; fifth, the Class B1 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero; and sixth, the Class M Certificates until
the Class Certificate Principal Balance thereof has been
reduced to zero.
Subordinate Certificate Writedown Amount: As to any
Distribution Date, first, any amount distributed to the
Class PO Certificates on such Distribution Date pursuant to
Section 4.01(a)(iv) and second, after giving effect to the
application of clause first above, the amount by which (i)
the sum of the Class Certificate Principal Balances of all
the Certificates (after giving effect to the distribution
of principal and the application of Realized Losses in
reduction of the Certificate Principal Balances of the
related Certificates on such Distribution Date) exceeds
(ii) the Pool Scheduled Principal Balance on the first day
of the month of such Distribution Date less any Deficient
Valuations occurring on or prior to the Bankruptcy Coverage
Termination Date.
Substitution Amount: With respect to any Mortgage Loan
substituted pursuant to Section 2.03(b), the excess of (x)
the Scheduled Principal Balance of the Mortgage Loan that
is substituted for, over (y) the Scheduled Principal
Balance of the related substitute Mortgage Loan, each
balance being determined as of the date of substitution.
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Supplemental Servicing Fee: As to any Mortgage Loan
and Distribution Date, an amount equal to the product of
(i) the Scheduled Principal Balance of such Mortgage Loan
as of the Due Date in the preceding calendar month and (ii)
the Supplemental Servicing Fee Rate for such Mortgage Loan.
The Supplemental Servicing Fee for any Distribution Date
shall be reduced by its allocable share of Interest
Shortfalls (as provided in the definition thereof) and any
Interest Losses (in accordance with Section 3.08(d)).
Supplemental Servicing Fee Rate: As to any Mortgage
Loan and Distribution Date, a fixed rate per annum equal to
the excess, if any, of the Net Mortgage Rate thereof over
6.75%.
Surety: Ambac Assurance Corporation, or its successors
in interest.
Surety Bond: The Limited Purpose Surety Bond (Policy
No. AB0039BE), dated February 28, 1996, issued by the
Surety for the benefit of certain beneficiaries, including
the Trustee for the benefit of the Holders of the
Certificates, but only to the extent that such Limited
Purpose Surety Bond covers any Pledged Asset Mortgage
Loans.
TAC Balance: As to any Distribution Date and any Class
of TAC Certificates and any TAC Component, the balance
designated as such for such Distribution Date and such
Class or Component as set forth in the Principal Balance
Schedules attached as Exhibit B hereto.
TAC Certificates: None.
TAC Component: None.
Trigger Event: Any one or more of the following: (i)
if the Company is not a wholly-owned direct or indirect
subsidiary of General Electric Company or if General
Electric Capital Corporation shall not own (directly or
indirectly) at least two-thirds of the voting shares of the
capital stock of the Company, (ii) if the long-term senior
unsecured rating of General Electric Capital Corporation is
downgraded or withdrawn by Fitch or S&P below their two
highest rating categories, (iii) if General Electric
Capital Corporation is no longer obligated pursuant to the
terms of the support agreement, dated as of October 1,
1990, between General Electric Capital Corporation and the
Company, to maintain the Company's net worth or liquidity
(as such terms are defined therein) at the levels specified
therein, or if such support agreement, including any
amendment thereto, has been breached, terminated or
otherwise held to be unenforceable and (iv) if such support
agreement, including any amendment thereto, is amended or
modified.
Trust Fund: The corpus of the trust created by this
Agreement evidenced by the Certificates and consisting of:
(i) the Mortgage Loans;
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(ii) all payments on or collections in respect of such
Mortgage Loans, except as otherwise described in the first
paragraph of Section 2.01, including the proceeds from the
liquidation of any Additional Collateral for any Pledged
Asset Mortgage Loan;
(iii) the obligation of the Company to deposit in the
Certificate Account the amounts required by Sections
3.02(d), 3.02(e) and 4.04(a), and the obligation of the
Trustee to deposit in the Certificate Account any amount
required pursuant to Section 4.04(b);
(iv) the obligation of the Company to purchase or
replace any Defective Mortgage Loan pursuant to Section
2.02 or 2.03;
(v) all property acquired by foreclosure or deed in
lieu of foreclosure with respect to any REO Mortgage Loan;
(vi) the proceeds of the Primary Insurance Policies,
if any, and the hazard insurance policies required by
Section 3.06, in each case, in respect of the Mortgage
Loans, and the Company's interest in the Surety Bond
transferred to the Trustee pursuant to Section 2.01;
(vii) the Certificate Account established pursuant to
Section 3.02(d);
(viii) the Eligible Account or Accounts, if any,
established pursuant to Section 3.02(e);
(ix) any collateral funds established to secure the
obligations of the Holder of the Class B4 and Class B5
Certificates, respectively, under any agreements entered
into between such holder and the Company pursuant to
Section 3.08(e); and
(x) all rights of the Company as assignee under any
security agreements, pledge agreements or guarantees
relating to the Additional Collateral supporting any
Pledged Asset Mortgage Loan.
Trustee: The institution executing this Agreement as
Trustee, or its successor in interest, or if any successor
trustee is appointed as herein provided, then such
successor trustee so appointed.
Unanticipated Recovery: As defined in Section 4.01(e)
herein.
Uninsured Cause: Any cause of damage to property
subject to a Mortgage such that the complete restoration of
the property is not fully reimbursable by the hazard
insurance policies required to be maintained pursuant to
Section 3.06.
Unpaid Class Interest Shortfall: As to any
Distribution Date and any Class of Certificates (other than
any Class of Principal Only Certificates and any Class
consisting of Specified Components) or any Specified
Component (other than any Principal Only Component), the
amount, if any, by which the aggregate of the Class
Interest Shortfalls for such Class or in respect of such
Specified Component for prior Distribution Dates is
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in excess of the aggregate amounts distributed on prior
Distribution Dates to Holders of such Class of Certificates
or in respect of such Specified Component (or added to the
Class Certificate Principal Balance of any Class of Accrual
Certificates, or to the Component Principal Balance of any
Accrual Component constituting a Specified Component)
pursuant to Section 4.01(a)(ii), in the case of the Senior
Certificates (other than any Class of Principal Only
Certificates) and any Specified Component thereof (other
than any Principal Only Component), Section 4.01(a)(vi), in
the case of the Class M Certificates, Section 4.01(a)(ix),
in the case of the Class B1 Certificates, Section
4.01(a)(xii), in the case of the Class B2 Certificates,
Section 4.01(a)(xv), in the case of the Class B3
Certificates, Section 4.01(a)(xviii), in the case of the
Class B4 Certificates, and Section 4.01(a)(xxi), in the
case of the Class B5 Certificates. As to any Class of
Certificates consisting of Specified Components and any
Distribution Date, the sum of the Unpaid Class Interest
Shortfalls for the Specified Components thereof on such
date.
Voluntary Principal Prepayment: With respect to any
Distribution Date, any prepayment of principal received
from the related Mortgagor on a Mortgage Loan.
Voting Rights: The portion of the voting rights of all
the Certificates that is allocated to any Certificate for
purposes of the voting provisions of Section 10.01. At all
times during the term of this Agreement, 100% of all Voting
Rights shall be allocated among the Classes of Certificates
(and among the Certificates within each Class of
Certificates) in proportion to their Class Certificate
Principal Balances or Certificate Principal Balances, as
the case may be.
ARTICLE II
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES
Section 2.01. Conveyance of Mortgage Loans. (a) The
Company, concurrently with the execution and delivery of this
Agreement, does hereby transfer, assign, set-over and otherwise
convey to the Trustee without recourse (except as provided
herein) all the right, title and interest of the Company in and
to the Mortgage Loans, including all interest and principal
received by the Company on or with respect to the Mortgage Loans
(other than payments of principal and interest due and payable on
the Mortgage Loans on or before, and all Principal Prepayments
received before, the Cut-off Date).
In addition, with respect to any Pledged Asset
Mortgage Loan, the Company does hereby transfer, assign, set-over
and otherwise convey to the Trustee without recourse (except as
provided herein) (i) its rights as assignee under any security
agreements, pledge agreements or guarantees relating to the
Additional Collateral supporting any Pledged Asset Mortgage Loan,
(ii) its security interest in and to any Additional Collateral,
(iii) its right to receive payments in respect of any Pledged
Asset Mortgage Loan pursuant to the Pledged Asset Mortgage
Servicing Agreement, and (iv) its rights as beneficiary under the
Surety Bond in respect of any Pledged Asset Mortgage Loan.
(b) In connection with such transfer and assignment, the
Company does hereby deliver to the Trustee the following
documents or instruments with respect to:
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(1) Each Mortgage Loan (other than any Cooperative
Loan or Designated Loan) so transferred and assigned:
(i) The Mortgage Note, endorsed without recourse in
blank by the Company, including all intervening
endorsements showing a complete chain of endorsement from
the originator to the Company; provided, however, that if
such Mortgage Note is a Confirmatory Mortgage Note, such
Confirmatory Mortgage Note may be payable directly to the
Company or may show a complete chain of endorsement from
the named payee to the Company;
(ii) Any assumption and modification agreement;
(iii) An assignment in recordable form (which may be
included in a blanket assignment or assignments) of the
Mortgage to the Trustee; and
(2) Each Cooperative Loan (other than a Designated
Loan) so transferred and assigned:
(i) The Mortgage Note, endorsed without recourse in
blank by the Company and showing an unbroken chain of
endorsements from the originator to the Company; provided,
however, that if such Mortgage Note is a Confirmatory
Mortgage Note, such Confirmatory Mortgage Note may be
payable directly to the Company or may show a complete
chain of endorsement from the named payee to the Company;
(ii) A counterpart of the Proprietary Lease and the
Assignment of Proprietary Lease executed in blank or to the
originator of the Cooperative Loan;
(iii) The related Cooperative Stock Certificate,
together with an undated stock power (or other similar
instrument) executed in blank;
(iv) A counterpart of the recognition agreement by the
Cooperative of the interests of the mortgagee with respect
to the related Cooperative Loan;
(v) The Security Agreement;
(vi) Copies of the original UCC-1 financing statement,
and any continuation statements, filed by the originator of such
Cooperative Loan as secured party, each with evidence of
recording thereof, evidencing the interest of the originator in
the Cooperative Stock and the Proprietary Lease;
(vii) If applicable, copies of the UCC-3 assignments
of the security interest described in clause (vi) above,
sent to the appropriate public office for filing, showing
an unbroken chain of title from the originator to the
Company, evidencing the security interest of the originator
in the Cooperative Stock and the Proprietary Lease;
(viii) An executed assignment (which may be a blanket
assignment for all Cooperative Loans) of the interest of
the Company in the Security Agreement,
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Assignment of Proprietary Lease and the recognition
agreement described in clause (iv) above, showing an
unbroken chain of title from the originator to the Trustee;
and
(ix) A UCC-3 assignment from the Company to the
Trustee of the security interest described in clause (vi)
above, in form suitable for filing, otherwise complete
except for filing information regarding the original UCC-1
if unavailable (which may be included in a blanket
assignment to the Trustee).
In instances where a completed assignment of the
Mortgage in recordable form cannot be delivered by the Company to
the Trustee in accordance with Section 2.01(b)(1)(iii) prior to
or concurrently with the execution and delivery of this
Agreement, due to a delay in connection with recording of the
Mortgage, the Company may, in lieu of delivering the completed
assignment in recordable form, deliver to the Trustee the
assignment in such form, otherwise complete except for recording
information.
(3) With respect to each Designated Loan, the Company
does hereby deliver to the Trustee the Designated Loan
Closing Documents.
(c) In connection with each Mortgage Loan transferred and
assigned to the Trustee, the Company shall deliver to the Trustee
the following documents or instruments as promptly as
practicable, but in any event within 30 days, after receipt by
the Company of all such documents and instruments for all of the
outstanding Mortgage Loans:
(i) the Mortgage with evidence of recording indicated
thereon (other than with respect to a Cooperative Loan);
(ii) a copy of the title insurance policy (other than
with respect to a Cooperative Loan);
(iii) with respect to any Mortgage that has been
assigned to the Company, the related recorded intervening
assignment or assignments of Mortgage, showing a complete
chain of assignment from the originator to the Company
(other than with respect to a Cooperative Loan); and
(iv) with respect to any Cooperative Loan that has
been assigned to the Company, the related filed intervening
UCC-3 financing statements (not previously delivered
pursuant to Section 2.01(b)(2)(vii)), showing a complete
chain of assignment from the named originator to the
Company.
Pending such delivery, the Company shall retain in its files (a)
copies of the documents described in clauses (i) and (iii) of the
preceding sentence, without evidence of recording thereon, and
(b) title insurance binders with respect to the Mortgage Loans
(other than with respect to a Cooperative Loan). The Company
shall also retain in its files evidence of any primary mortgage
insurance relating to the Mortgage Loans during the period when
the related insurance is in force. Such evidence shall consist,
for each Mortgage Loan, of a certificate of private mortgage
insurance relating to such Mortgage Loan or an electronic screen
print setting forth the information contained in such certificate
of private mortgage insurance, including, without limitation,
information relating to the name of the mortgage insurance
carrier, the certificate
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number, the loan amount, the property address, the effective date
of coverage, the amount of coverage and the expiration date of
the policy. (The copies of the Mortgage, intervening assignments
of Mortgage, if any, title insurance binder and the Primary
Insurance Policy, if any, described in the second and third
preceding sentences are collectively referred to herein as the
"Document File" with respect to each Mortgage Loan.) The Company
shall advise the Trustee in writing if such delivery to the
Trustee shall not have occurred on or before the first
anniversary of the Closing Date. The Company shall promptly
furnish to the Trustee the documents included in the Document
Files (other than any such documents previously delivered to the
Trustee as originals or copies) either (a) upon the written
request of the Trustee or (b) when the Company or the Trustee
obtains actual notice or knowledge of a Trigger Event. The
Trustee shall have no obligation to request delivery of the
Document Files unless a Responsible Officer of the Trustee has
actual notice or knowledge of the occurrence of a Trigger Event.
In the case of Mortgage Loans which have been prepaid
in full after the Cut-off Date and prior to the date of execution
and delivery of this Agreement, the Company, in lieu of
delivering the above documents to the Trustee, herewith delivers
to the Trustee a certification of a Servicing Officer of the
nature set forth in Section 3.09.
(d) The Company shall not be required to record the
assignments of the Mortgages referred to in Section
2.01(b)(1)(iii) or file the UCC-3 assignments referred to in
Section 2.01(b)(2)(ix) to the Trustee unless the Company or the
Trustee obtains actual notice or knowledge of the occurrence of
any Trigger Event; provided, however, that such recording or
filing shall not be required if the Company delivers to the
Trustee a letter from each Rating Agency to the effect that the
failure to take such action will not cause such Rating Agency to
reduce or withdraw its then current ratings of the Certificates.
The party obtaining actual notice or knowledge of any of such
events shall give the other party prompt written notice thereof.
For purposes of the foregoing (as well as for purposes of
determining whether the Company shall be required to deliver the
Document Files to the Trustee following the occurrence of a
Trigger Event), the Company shall be deemed to have knowledge of
any such downgrading referred to in the definition of Trigger
Event if, in the exercise of reasonable diligence, the Company
has or should have had knowledge thereof. As promptly as
practicable subsequent to the Company's delivery or receipt of
such written notice, as the case may be, the Company shall insert
the recording or filing information in the assignments of the
Mortgages or UCC-3 assignments to the Trustee and shall cause the
same to be recorded or filed, at the Company's expense, in the
appropriate public office for real property records or UCC
financing statements, except that the Company need not cause to
be so completed and recorded any assignment of mortgage which
relates to a Mortgage Loan secured by property in a jurisdiction
under the laws of which, on the basis of an Opinion of Counsel
reasonably satisfactory to the Trustee and satisfactory to each
Rating Agency (as evidenced in writing), recordation of such
assignment is not necessary to protect the Trustee against
discharge of such Mortgage Loan by the Company or any valid
assertion that any Person other than the Trustee has title to or
any rights in such Mortgage Loan. In the event that the Company
fails or refuses to record or file the assignment of Mortgages or
UCC-3 financing statement in the circumstances provided above,
the Trustee shall record or cause to be recorded or filed such
assignment or UCC-3 financing statement at the expense of the
Company. In connection with any such recording or filing, the
Company shall furnish such documents as may be reasonably
necessary to accomplish such recording or filing. Notwithstanding
the foregoing, at any time the Company may record or file, or
cause to be
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recorded or filed, the assignments of Mortgages or
UCC-3 financing statement at the expense of the Company.
Section 2.02. Acceptance by Trustee. Subject to the
examination hereinafter provided, the Trustee acknowledges
receipt of the Mortgage Notes, the assignments of the Mortgages
to the Trustee, the assumption and modification agreements, if
any, the documents specified in Section 2.01(b)(2) (subject to
any permitted delayed delivery of the documents described in
Section 2.01(c)(iv)), and the Designated Loan Closing Documents,
if any, delivered pursuant to Section 2.01, and declares that the
Trustee holds and will hold such documents and each other
document delivered to it pursuant to Section 2.01 in trust, upon
the trusts herein set forth, for the use and benefit of all
present and future Certificateholders. The Trustee agrees, for
the benefit of Certificateholders, to review each Mortgage File
within 45 days after (i) the execution and delivery of this
Agreement, in the case of the Mortgage Notes, the assignments of
the Mortgages to the Trustee, the assumption and modification
agreements, if any, the documents specified in Section 2.01(b)(2)
(subject to any permitted delayed delivery of the documents
described in Section 2.01(c)(iv)), and the Designated Loan
Closing Documents, if any, (ii) delivery to the Trustee after the
Closing Date of the Mortgage Notes and the assumption and
modification agreements, if any, with respect to each Designated
Loan, and (iii) delivery of the recorded Mortgages, title
insurance policies, recorded intervening assignments of Mortgage,
if any, and filed intervening UC 3 financing statements, if any,
with respect to any Cooperative Loan to ascertain that all
required documents set forth in Section 2.01 have been executed,
received and recorded, if applicable, and that such documents
relate to the Mortgage Loans identified in Exhibit C hereto. In
performing such examination, the Trustee may conclusively assume
the due execution and genuineness of any such document and the
genuineness of any signature thereon. It is understood that the
scope of the Trustee's examination of the Mortgage Files is
limited solely to confirming, after receipt of the documents
listed in Section 2.01, that such documents have been executed,
received and recorded, if applicable, and relate to the Mortgage
Loans identified in Exhibit C to this Agreement. If in the course
of such review the Trustee finds (1) that any document required
to be delivered as aforesaid has not been delivered, or (2) any
such document has been mutilated, defaced or physically altered
without the borrower's authorization or approval, or (3) based
upon its examination of such documents, the information with
respect to any Mortgage Loan set forth on Exhibit C is not
accurate, the Trustee shall promptly so notify the Company in
writing, which shall have a period of 60 days after receipt of
such notice to correct or cure any such defect. The Company
hereby covenants and agrees that, if any such material defect
cannot be corrected or cured, the Company will on a Distribution
Date which is not later than the first Distribution Date which is
more than ten days after the end of such 60-day period repurchase
the related Mortgage Loan from the Trustee at the Purchase Price
therefor or replace such Mortgage Loan pursuant to Section
2.03(b); provided, however, that if the defect (or breach
pursuant to Section 2.03(a)) is one that, had it been discovered
before the Startup Day, would have prevented the Mortgage Loan
from being a "qualified mortgage" within the meaning of the REMIC
Provisions, such defect or breach shall be cured, or the related
Mortgage Loan shall be repurchased or replaced, on a Distribution
Date which falls within 90 days of the date of discovery of such
defect or breach. The Purchase Price for the repurchased Mortgage
Loan, or any amount required in respect of a substitution
pursuant to Section 2.03(b), shall be deposited by the Company in
the Certificate Account pursuant to Section 3.02(d) on the
Business Day prior to the applicable Distribution Date and, upon
receipt by the Trustee of written notification of
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such deposit signed by a Servicing Officer, the Trustee shall
release or cause to be released to the Company the related
Mortgage File and shall execute and deliver or cause to be
executed and delivered such instruments of transfer or
assignment, in each case without recourse, as shall be necessary
to vest in the Company any Mortgage Loan released pursuant
hereto. It is understood and agreed that the obligation of the
Company to repurchase or replace any Mortgage Loan as to which a
material defect in a constituent document exists shall constitute
the sole remedy respecting such defect available to
Certificateholders or the Trustee on behalf of
Certificateholders.
Upon receipt by the Trustee of the Mortgage Note with
respect to a Designated Loan that is not defective in accordance
with the fifth sentence of the preceding paragraph, the related
Lost Note Affidavit delivered pursuant to Section 2.01 shall be
void and the Trustee shall return it to the Company.
Section 2.03. Representations and Warranties of the
Company; Mortgage Loan Repurchase. (a) The Company hereby
represents and warrants to the Trustee that:
(i) The information set forth in Exhibit C hereto was
true and correct in all material respects at the date or
dates respecting which such information is furnished;
(ii) As of the date of the initial issuance of the
Certificates, other than with respect to Cooperative Loans,
each Mortgage is a valid and enforceable first lien on the
property securing the related Mortgage Note subject only to
(a) the lien of current real property taxes and
assessments, (b) covenants, conditions and restrictions,
rights of way, easements and other matters of public record
as of the date of recording of such Mortgage, such
exceptions appearing of record being acceptable to mortgage
lending institutions generally in the area wherein the
property subject to the Mortgage is located or specifically
reflected in the appraisal obtained in connection with the
origination of the related Mortgage Loan obtained by the
Company and (c) other matters to which like properties are
commonly subject which do not materially interfere with the
benefits of the security intended to be provided by such
Mortgage;
(iii) Immediately prior to the transfer and assignment
herein contemplated, the Company had good title to, and was
the sole owner of, each Mortgage Loan and all action had
been taken to obtain good record title to each related
Mortgage. Each Mortgage Loan has been transferred free and
clear of any liens, claims and encumbrances;
(iv) As of the date of the initial issuance of the
Certificates, no payment of principal of or interest on or
in respect of any Mortgage Loan is 30 or more days past due
and none of the Mortgage Loans have been past due 30 or
more days more than once during the preceding 12 months;
(v) As of the date of the initial issuance of the
Certificates, other than with respect to Cooperative Loans,
there is no mechanics' lien or claim for work, labor or
material affecting the premises subject to any Mortgage
which is or may be a lien prior to, or equal or coordinate
with, the lien of such Mortgage except those which are
insured against by the title insurance policy referred to
in (x) below;
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(vi) As of the date of the initial issuance of the
Certificates, other than with respect to Cooperative Loans,
there is no delinquent tax or assessment lien against the
property subject to any Mortgage;
(vii) As of the date of the initial issuance of the
Certificates, there is no valid offset, defense or
counterclaim to any Mortgage Note or Mortgage, including
the obligation of the Mortgagor to pay the unpaid principal
and interest on such Mortgage Note;
(viii) As of the date of the initial issuance of the
Certificates, the physical property subject to any Mortgage
(or, in the case of a Cooperative Loan, the related
Cooperative Apartment) is free of material damage and is in
good repair;
(ix) Each Mortgage Loan at the time it was made
complied in all material respects with applicable state and
federal laws, including, without limitation, usury, equal
credit opportunity and disclosure laws;
(x) Other than with respect to Cooperative Loans, a
lender's title insurance policy or binder, or other
assurance of title insurance customary in the relevant
jurisdiction therefor was issued on the date of the
origination of each Mortgage Loan and each such policy or
binder is valid and remains in full force and effect;
(xi) None of the Mortgage Loans constitute Pledged
Asset Mortgage Loans. The Loan-to-Value Ratio of each
Mortgage Loan was not more than 95.00%. As of the Cut-off
Date, no more than 12.75% of the Mortgage Loans by
Scheduled Principal Balance had Loan-to-Value Ratios of
more than 80% and each such Mortgage Loan is covered by a
Primary Insurance Policy so long as its then outstanding
principal amount exceeds 80% of the greater of (a) the
Original Value and (b) the then current value of the
related Mortgaged Property as evidenced by an appraisal
thereof satisfactory to the Company. Each Primary Insurance
Policy is issued by a private mortgage insurer acceptable
to FNMA or FHLMC;
(xii) Each Mortgage Note is payable on the first day
of each month in self-amortizing monthly installments of
principal and interest, with interest payable in arrears,
over an original term of not more than thirty years. The
Mortgage Rate of each Mortgage Note of the related Mortgage
Loan was not less than 6.500% per annum and not greater
than 8.625% per annum. The Mortgage Rate of each Mortgage
Note is fixed for the life of the related Mortgage Loan;
(xiii) Other than with respect to Cooperative Loans,
the improvements on the Mortgaged Properties are insured
against loss under a hazard insurance policy with extended
coverage and conforming to the requirements of Section 3.06
hereof. As of the date of initial issuance of the
Certificates, all such insurance policies are in full force
and effect;
(xiv) As of the Cut-off Date, (i) no more than 9.50%
of the Mortgage Loans by Scheduled Principal Balance had a
Scheduled Principal Balance of more than $500,000
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and up to and including $750,000; (ii) no more than 3.25%
of the Mortgage Loans by Scheduled Principal Balance
had a Scheduled Principal Balance of more than $750,000 and
up to and including $1,000,000; and (iii) no more than
1.00% of the Mortgage Loans by Scheduled Principal Balance
had a Scheduled Principal Balance of more than $1,000,000;
(xv) As of the Cut-off Date, no more than 0.75% of the
Mortgage Loans by Scheduled Principal Balance are secured
by Mortgaged Properties located in any one postal zip code
area;
(xvi) As of the Cut-off Date, at least 98.00% of the
Mortgage Loans by Scheduled Principal Balance are secured
by Mortgaged Properties determined by the Company to be the
primary residence of the Mortgagor. The basis for such
determination is the making of a representation by the
Mortgagor at origination that he or she intends to occupy
the underlying property;
(xvii) As of the Cut-off Date, at least 91.00% of the
Mortgage Loans by Scheduled Principal Balance are secured
by one-family detached residences;
(xviii) As of the Cut-off Date, no more than 3.50% of
the Mortgage Loans by Scheduled Principal Balance are
secured by condominiums and, as of the Cut-off Date, no
more than 1.00% of the Mortgage Loans by Scheduled
Principal Balance are secured by two- to four-family
residential properties. As to each condominium or related
Mortgage Loan, (a) the related condominium is in a project
that is on the FNMA or FHLMC approved list, (b) the related
condominium is in a project that, upon submission of
appropriate application, could be so approved by either
FNMA or FHLMC, (c) the related Mortgage Loan meets the
requirements for purchase by FNMA or FHLMC, (d) the related
Mortgage Loan is of the type that could be approved for
purchase by FNMA or FHLMC but for the principal balance of
the related Mortgage Loan or the pre-sale requirements or
(e) the related Mortgage Loan has been approved by a
nationally recognized mortgage pool insurance company for
coverage under a mortgage pool insurance policy issued by
such insurer. As of the Cut-off Date, no more than 0.50% of
the Mortgage Loans by Scheduled Principal Balance are
secured by condominiums located in any one postal zip code
area;
(xix) Other than with respect to Cooperative Loans, no
Mortgage Loan is secured by a leasehold interest in the
related Mortgaged Property and each Mortgagor holds fee
title to the related Mortgaged Property;
(xx) As of the Cut-off Date, none of the Mortgage
Loans by Scheduled Principal Balance constituted Buydown
Mortgage Loans.
(xxi) The original principal balances of the Mortgage
Loans range from $227,500 to $1,435,000;
(xxii) As of the Cut-off Date, no more than 1.50% of
the Mortgage Loans by Scheduled Principal Balance are
secured by second homes and no more than 0.50% of
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the Mortgage Loans by Scheduled Principal Balance are
secured by investor-owned properties;
(xxiii) All appraisals have been prepared
substantially in accordance with the description contained
under the caption "The Trust Fund - The Mortgage Loans" in
the prospectus dated May 26, 1998, included in the
registration statement on Form S-3 (file no. 333-51151)
filed by the Company with the Securities and Exchange
Commission with respect to the offer and sale of certain
Classes of the Certificates;
(xxiv) No selection procedures, other than those
necessary to comply with the representations and warranties
set forth herein or the description of the Mortgage Loans
made in any disclosure document delivered to prospective
investors in the Certificates, have been utilized in
selecting the Mortgage Loans from the Company's portfolio
which would be adverse to the interests of the
Certificateholders;
(xxv) Other than with respect to Cooperative Loans, to
the best of the Company's knowledge, at origination no
improvement located on or being part of a Mortgaged
Property was in violation of any applicable zoning and
subdivision laws and ordinances;
(xxvi) None of the Mortgage Loans is a temporary
construction loan. With respect to any Mortgaged Property
which constitutes new construction, the related
construction has been completed substantially in accordance
with the specifications therefor and any incomplete aspect
of such construction shall not be material or interfere
with the habitability or legal occupancy of the Mortgaged
Property. Mortgage Loan amounts sufficient to effect any
such completion are in escrow for release upon or in
connection with such completion or a performance bond or
completion bond is in place to provide funds for this
purpose and such completion shall be accomplished within
120 days after weather conditions permit the commencement
thereof;
(xxvii) As of the Closing Date, each Mortgage Loan is
a "qualified mortgage" as defined in Section 860G(a)(3) of
the Code;
(xxviii) As of the Closing Date, the Company possesses
the Document File with respect to each Mortgage Loan, and,
other than with respect to Cooperative Loans, the related
Mortgages and intervening assignment or assignments of
Mortgages, if any, have been delivered to a title insurance
company for recording;
(xxix) As of the Cut-Off Date, no more than 1.00% of
the Mortgage Loans, by Scheduled Principal Balance, are
Cooperative Loans. With respect to each Cooperative Loan:
(A) The Security Agreement creates a first
lien in the stock ownership and leasehold rights
associated with the related Cooperative
Apartment;
(B) The lien created by the related Security
Agreement is a valid, enforceable and subsisting
first priority security interest in the
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related Cooperative Stock securing the related
Mortgage Note, subject only to (a) liens of the
Cooperative for unpaid assessments representing
the Mortgagor's pro rata share of the
Cooperative's payments for its blanket mortgage,
current and future real property taxes, insurance
premiums, maintenance fees and other assessments
to which like collateral is commonly subject and
(b) other matters to which like collateral is
commonly subject which do not materially
interfere with the benefits of the security
intended to be provided by the Security
Agreement. There are no liens against or security
interest in the Cooperative Stock relating to
such Cooperative Loan (except for unpaid
maintenance, assessments and other amounts owed
to the related Cooperative which individually or
in the aggregate do not have a material adverse
effect on such Cooperative Loan), which have
priority over the Trustee's security interest in
such Cooperative Stock;
(C) The Cooperative Stock that is pledged as
security for the Mortgage Loan is held by a
person as a "tenant-stockholder" within the
meaning of section 216 of the Code, the related
Cooperative that owns title to the related
cooperative apartment building is a "cooperative
housing corporation" within the meaning of
section 216 of the Code, and such Cooperative is
in material compliance with applicable federal,
state and local laws which, if not complied with,
could have a material adverse effect on the
Mortgaged Property; and
(D) There is no prohibition against pledging
the Cooperative Stock or assigning the
Proprietary Lease; and
(xxx) With respect to each Mortgage Loan identified on
Exhibit C as having been originated or acquired under the
Company's Enhanced Streamlined Refinance program, the value
of the related Mortgaged Property, as of the date of such
origination or acquisition under the Company's Enhanced
Streamlined Refinance program, is no less than the value
thereof established at the time the mortgage loan that is
the subject of the refinancing was originated.
It is understood and agreed that the representations
and warranties set forth in this Section 2.03(a) shall survive
delivery of the respective Mortgage Files to the Trustee. Upon
discovery by either the Company or the Trustee of a breach of any
of the foregoing representations and warranties which materially
and adversely affects the interests of the Certificateholders in
the related Mortgage Loan, the party discovering such breach
shall give prompt written notice to the other. Subject to the
following sentence, within 60 days of its discovery or its
receipt of notice of breach, or, with the prior written consent
of a Responsible Officer of the Trustee, such longer period
specified in such consent, the Company shall cure such breach in
all material respects or shall repurchase such Mortgage Loan from
the Trustee or replace such Mortgage Loan pursuant to Section
2.03(b). Any such repurchase by the Company shall be accomplished
in the manner set forth in Section 2.02, subject to the proviso
of the third-to-last sentence thereof, and at the Purchase Price.
It is understood and agreed that the obligation of the Company to
repurchase or replace any Mortgage Loan as to which a breach
occurred and
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is continuing shall constitute the sole remedy respecting such
breach available to Certificateholders or the Trustee on behalf
of Certificateholders and such obligation of the Company to
repurchase or replace any such Mortgage Loan shall not be assumed
by any Person which may succeed the Company as servicer
hereunder, but shall continue as an obligation of the Company.
Notwithstanding the preceding sentence, if a breach of the
representation and warranty of the Company contained in Section
2.03(a)(ix) occurs as a result of a violation of the federal
Truth in Lending Act, 15 U.S.C. ss. 1601 et seq., as amended
("TILA") or any state truth-in lending or similar statute, and
the Trustee or the Trust Fund is named as a defendant in a TILA
suit or a suit under any such statutes in respect of such
violation and liability in respect thereof is imposed upon the
Trustee or the Trust Fund as assignees of the related Mortgage
Loan pursuant to Section 1641 of TILA, or any analogous provision
of any such statute, the Company shall indemnify the Trustee and
the Trust Fund from, and hold them harmless against, any and all
losses, liabilities, damages, claims or expenses (including
reasonable attorneys' fees) to which the Trustee and the Trust
Fund, or either of them, become subject pursuant to TILA or any
such statute, insofar as such losses, damages, claims or expenses
(including reasonable attorneys' fees) result from such
violation. The Company's obligations under the preceding sentence
shall not impair or derogate from the Company's obligations to
the Trustee under Section 8.05.
(b) If the Company is required to repurchase any Mortgage
Loan pursuant to Section 2.02 or 2.03(a), the Company may, at its
option, within the applicable time period specified in such
respective Sections, remove such Defective Mortgage Loan from the
terms of this Agreement and substitute one or more other mortgage
loans for such Defective Mortgage Loan, in lieu of repurchasing
such Defective Mortgage Loan, provided that no such substitution
shall occur more than two years after the Closing Date. Any
substitute Mortgage Loan shall (a) have a Scheduled Principal
Balance (together with that of any other Mortgage Loan
substituted for the same Defective Mortgage Loan) as of the first
Distribution Date following the month of substitution not in
excess of the Scheduled Principal Balance of the Defective
Mortgage Loan as of such date (the amount of any difference, plus
one month's interest thereon at the respective Remittance Rate,
to be deposited by the Company in the Certificate Account
pursuant to Section 2.02), (b) have a Mortgage Rate not less
than, and not more than one percentage point greater than, the
Mortgage Rate of the Defective Mortgage Loan, (c) have the same
Net Mortgage Rate as the Defective Mortgage Loan, (d) have a
remaining term to stated maturity not later than, and not more
than one year less than, the remaining term to stated maturity of
the Defective Mortgage Loan, (e) be, in the reasonable
determination of the Company, of the same type, quality and
character as the Defective Mortgage Loan as if the defect or
breach had not occurred, (f) have a ratio of its current
principal amount to its Original Value not greater than that of
the removed Mortgage Loan and (g) be, in the reasonable
determination of the Company, in compliance with the
representations and warranties contained in Section 2.03(a) as of
the date of substitution.
The Company shall amend the Mortgage Loan Schedule to
reflect the withdrawal of any Defective Mortgage Loan and the
substitution of a substitute Mortgage Loan therefor. Upon such
amendment the Company shall be deemed to have made as to such
substitute Mortgage Loan the representations and warranties set
forth in Section 2.03(a) as of the date of such substitution,
which shall be continuing as long as any Certificate shall be
outstanding or this Agreement has not been terminated, and the
remedies for breach of any such representation or warranty shall
be as set forth in Section 2.03(a). Upon such amendment, the
Trustee shall review
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the Mortgage File delivered to it relating to the substitute
Mortgage Loan, within the time and in the manner and with the
remedies specified in Section 2.02, except that for purposes of
this Section 2.03(b) (other than the two-year period specified in
the first sentence of the preceding paragraph of this Section
2.03(b)), such time shall be measured from the date of the
applicable substitution.
Section 2.04. Execution of Certificates. The Trustee has
caused to be executed, countersigned and delivered to or upon the
order of the Company, in exchange for the Mortgage Loans, the
Certificates in authorized denominations evidencing the entire
ownership of the Trust Fund.
Section 2.05. Designations under the REMIC Provisions. (a)
The Company hereby designates the Classes of Certificates
identified in Section 5.01(b), other than the Residual
Certificate, as "regular interests," and the Class R Certificate
as the single class of "residual interest," in the REMIC
established hereunder for purposes of the REMIC Provisions.
(b) The Closing Date will be the "Startup Day" for the
REMIC established hereunder for purposes of the REMIC Provisions.
(c) The "tax matters person" with respect to the REMIC
established hereunder for purposes of the REMIC Provisions shall
be (i) the Company, if the Company is the owner of a Class R
Certificate, or (ii) in any other case, the beneficial owner of
the Class R Certificate having the largest Percentage Interest of
such Class; provided, however, that such largest beneficial owner
and, to the extent relevant, each other holder of a Class R
Certificate, by its acceptance thereof irrevocably appoints the
Company as its agent and attorney-in-fact to act as "tax matters
person" with respect to the REMIC established hereunder for
purposes of the REMIC Provisions.
(d) The "latest possible maturity date" of the regular
interests in the REMIC established hereunder is the Latest
Possible Maturity Date for purposes of section 860G(a)(1) of the
Code.
(e) In no event shall the assets described in clause (ix)
of the definition of the term Trust Fund constitute a part of the
REMIC established hereunder.
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(f) In the event that the Servicing Fee exceeds the amount
reasonable for such services (within the meaning of Treasury
Regulation 1.860D-1(b)(1)(ii)), the portion or portions of such
fee that can be measured as a fixed number of basis points on
some or all of the Mortgage Loans and can be treated as one or
more stripped coupons within the meaning of Treasury Regulation
1.860D-1(b)(2)(iii) shall be treated as such stripped coupons and
shall not be treated as a REMIC asset.
ARTICLE III
ADMINISTRATION AND SERVICING OF MORTGAGE LOANS
Section 3.01. Company to Act as Servicer. (a) It is
intended that the REMIC established hereunder shall constitute,
and that the affairs of the REMIC shall be conducted so as to
qualify
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the Trust Fund (other than any collateral fund established under
the agreement referred to in Section 3.08(e)), as a "real estate
mortgage investment conduit" as defined in and in accordance with
the REMIC Provisions. In furtherance of such intention, the
Company covenants and agrees that it shall act as agent (and the
Company is hereby appointed to act as agent) on behalf of the
Trust Fund and the Holders of the Residual Certificates and that
in such capacity it shall:
(i) prepare and file, or cause to be prepared and
filed, in a timely manner, a U.S. Real Estate Mortgage
Investment Conduit Income Tax Return (Form 1066) and
prepare and file or cause to be prepared and filed with the
Internal Revenue Service and applicable state or local tax
authorities income tax or information returns for each
taxable year with respect to the REMIC established
hereunder, using the calendar year as the taxable year and
the accrual method of accounting, containing such
information and at the times and in the manner as may be
required by the Code or state or local tax laws,
regulations, or rules, and shall furnish or cause to be
furnished to Certificateholders the schedules, statements
or information at such times and in such manner as may be
required thereby;
(ii) within thirty days of the Closing Date, shall
furnish or cause to be furnished to the Internal Revenue
Service, on Form 8811 or as otherwise may be required by
the Code, the name, title, address, and telephone number of
the person that the holders of the Certificates may contact
for tax information relating thereto (and the Company shall
act as the representative of the REMIC established
hereunder for this purpose), together with such additional
information as may be required by such Form, and shall
update such information at the time or times and in the
manner required by the Code;
(iii) make or cause to be made an election, on behalf
of the REMIC established hereunder, to be treated as a
REMIC, and make the appropriate designations, if
applicable, in accordance with Section 2.05 hereof on the
federal tax return of the Trust Fund for its first taxable
year (and, if necessary, under applicable state law);
(iv) prepare and forward, or cause to be prepared and
forwarded, to the Certificateholders and to the Internal
Revenue Service and, if necessary, state tax authorities,
all information returns or reports, or furnish or cause to
be furnished by telephone, mail, publication or other
appropriate method such information, as and when required
to be provided to them in accordance with the REMIC
Provisions, including without limitation, the calculation
of any original issue discount using the Prepayment
Assumption Multiple;
(v) provide information necessary for the computation
of tax imposed on the transfer of a Residual Certificate to
a Disqualified Organization, or an agent (including a
broker, nominee or other middleman) of a Disqualified
Organization, or a pass-through entity in which a
Disqualified Organization is the record holder of an
interest (the reasonable cost of computing and furnishing
such information may be charged to the Person liable for
such tax);
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(vi) use its best reasonable efforts to conduct the
affairs of the REMIC established hereunder at all times
that any Certificates are outstanding so as to maintain the
status thereof as a REMIC under the REMIC Provisions;
(vii) not knowingly or intentionally take any action
or omit to take any action that would cause the termination
of the REMIC status of the REMIC or that would subject the
Trust Fund to tax, except for taxes for which the Company
is required to indemnify the REMIC pursuant to Section
3.01(c);
(viii) exercise reasonable care not to allow the
creation of any "interests" in the REMIC within the meaning
of section 860D(a)(2) of the Code other than the interests
represented by the Classes of Certificates identified in
Section 5.01(b);
(ix) exercise reasonable care not to allow the
occurrence of any "prohibited transactions" within the
meaning of section 860F of the Code, unless the Company
shall have provided an Opinion of Counsel to the Trustee
that such occurrence would not (a) result in a taxable
gain, (b) otherwise subject the Trust Fund to tax, or (c)
cause the REMIC established hereunder to fail to qualify as
a REMIC;
(x) exercise reasonable care not to allow the Trust
Fund to receive income from the performance of services or
from assets not permitted under the REMIC Provisions to be
held by a REMIC;
(xi) pay the amount of any federal or state tax,
including prohibited transaction taxes, taxes on certain
contributions to the REMIC after the Startup Day, and taxes
on net income from foreclosure property, imposed on the
Trust Fund when and as the same shall be due and payable
(but such obligation shall not prevent the Company or any
other appropriate Person from contesting any such tax in
appropriate proceedings and shall not prevent the Company
from withholding payment of such tax, if permitted by law,
pending the outcome of such proceedings);
(xii) ensure that federal, state or local income tax
or information returns shall be signed by the Trustee or
such other person as may be required to sign such returns
by the Code or state or local laws, regulations or rules;
and
(xiii) maintain such records relating to the REMIC
established hereunder, including but not limited to the
income, expenses, individual Mortgage Loans (including
Mortgaged Property), other assets and liabilities thereof,
and the fair market value and adjusted basis of the
property of each determined at such intervals as may be
required by the Code, as may be necessary to prepare the
foregoing returns, schedules, statements or information.
The Company shall be entitled to be reimbursed
pursuant to Section 3.04 for any federal income taxes paid by it
pursuant to clause (xi) of the preceding sentence, except to the
extent that such taxes are imposed as a result of the bad faith,
misfeasance or negligence of the Company in the performance of
its obligations hereunder. The Company shall not be entitled to
be reimbursed for any taxes paid pursuant to the indemnification
provisions of Section 3.01(c)
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(except as provided therein). With respect to any reimbursement
of prohibited transaction taxes, the Company shall inform the
Trustee of the circumstances under which such taxes were
incurred.
(b) The Company shall service and administer the Mortgage
Loans and shall have full power and authority, acting alone or
through one or more Primary Servicers, to do any and all things
in connection with such servicing and administration which it may
deem necessary or desirable. Without limiting the generality of
the foregoing, the Company shall continue, and is hereby
authorized and empowered by the Trustee, to execute and deliver,
or file, as appropriate, on behalf of itself, the
Certificateholders and the Trustee or any of them, any and all
continuation statements, termination statements, instruments of
satisfaction or cancellation, or of partial or full release or
discharge and all other comparable instruments, with respect to
the Mortgage Loans and with respect to the properties subject to
the Mortgages. Without limitation of the foregoing, if the
Company in its individual capacity agrees to refinance any
Mortgage Loan upon the request of the related Mortgagor, the
Company, as servicer hereunder, may execute an instrument of
assignment in customary form to the Company in its individual
capacity. In connection with any such refinancing, the Trustee
shall, upon certification of a Servicing Officer to the effect
that an amount equal to the principal balance of the related
Mortgage Loan together with accrued and unpaid interest thereon
at the applicable Remittance Rate to the date of such
certification has been credited to the Mortgage Loan Payment
Record, release the related Mortgage File to the Company
whereupon the Company may cancel the related Mortgage Note. Upon
request by the Company after the execution and delivery of this
Agreement, the Trustee shall furnish the Company with any powers
of attorney and other documents necessary or appropriate to
enable the Company to carry out its servicing and administrative
duties hereunder. Except as otherwise provided herein, the
Company shall maintain servicing standards substantially
equivalent to those required for approval by FNMA or FHLMC. The
Company shall not agree to any modification of the material terms
of any Mortgage Loan except as provided in the second sentence of
Section 3.02(a) and in Section 3.07. The Company shall not
release any portion of any Mortgaged Property from the lien of
the related Mortgage unless the related Mortgage Loan would be a
"qualified mortgage" within the meaning of the REMIC Provisions
following such release.
(c) [Intentionally Omitted.]
(d) The relationship of the Company (and of any successor
to the Company as servicer under this Agreement) to the Trustee
under this Agreement is intended by the parties to be that of an
independent contractor and not that of a joint venturer, partner
or agent.
(e) All costs incurred by the Company in effecting the
timely payment of taxes and assessments on the properties subject
to the Mortgage Loans shall not, for the purpose of calculating
monthly distributions to Certificateholders, be added to the
amount owing under the related Mortgage Loans, notwithstanding
that the terms of such Mortgage Loans so permit, and such costs
shall be recoverable by the Company to the extent permitted by
Section 3.04. The Company shall collect such amounts from the
Mortgagor and shall credit the Mortgage Loan Payment Record
accordingly.
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(f) If the Company enters into a servicing agreement with
any servicer (a "Primary Servicer") pursuant to which such
Primary Servicer shall directly service certain Mortgage Loans
and the Company shall perform master servicing with respect
thereto, the Company shall not be released from its obligations
to the Trustee and Certificateholders with respect to the
servicing and administration of the Mortgage Loans in accordance
with the provisions of Article III hereof and such obligations
shall not be diminished by virtue of any such servicing agreement
or arrangement and the Company shall be obligated to the same
extent and under the same terms and conditions as if the Company
alone were servicing and administering the Mortgage Loans. Any
amounts received by a Primary Servicer in respect of a Mortgage
Loan shall be deemed to have been received by the Company whether
or not actually received by it. Any servicing agreement that may
be entered into and any transactions or services relating to the
Mortgage Loans involving a Primary Servicer in its capacity as
such shall be deemed to be between the Company and the Primary
Servicer alone, and the Trustee and the Certificateholders shall
have no claims, obligations, duties or liabilities with respect
thereto. Notwithstanding the foregoing, in the event the Company
has been removed as the servicer hereunder pursuant to Section
6.04 or Section 7.01, the Trustee or any successor servicer
appointed pursuant to Section 7.02 shall succeed to all of the
Company's rights and interests (but not to any obligations or
liabilities of the Company arising prior to the date of
succession) under any servicing agreement with any Primary
Servicer in respect of the Mortgage Loans, subject to the
limitation on the Trustee's responsibilities under Section 7.02.
(g) In no event shall any collateral fund established under
the agreement referred to in Section 3.08(e) constitute an asset
of any REMIC established hereunder.
Section 3.02. Collection of Certain Mortgage Loan Payments;
Mortgage Loan Payment Record; Certificate Account. (a) The
Company shall make reasonable efforts to collect all payments
called for under the terms and provisions of the Mortgage Loans,
and shall, to the extent such procedures shall be consistent with
this Agreement, follow such collection procedures as it follows
with respect to mortgage loans comparable to the Mortgage Loans
in its servicing portfolio. Consistent with the foregoing, the
Company may in its discretion (i) waive any late payment charge
or any assumption fees or other fees which may be collected in
the ordinary course of servicing such Mortgage Loan and (ii) if a
default on the Mortgage Loan has occurred or is reasonably
foreseeable, arrange at any time prior to foreclosure with a
Mortgagor a schedule for the payment of due and unpaid principal
and interest for a period extending not longer than two years
after the date that such schedule is arranged. Any arrangement of
the sort described in clause (ii) above shall not affect the
amount or timing of the Company's obligation to make Monthly
Advances with respect to any Mortgage Loan which Monthly Advances
shall be made pursuant to the original amortization schedule
applicable to such Mortgage Loan.
(b) The Company shall establish and maintain a Mortgage
Loan Payment Record in which the following payments on and
collections in respect of each Mortgage Loan shall as promptly as
practicable be credited by the Company for the account of the
Holders of the Certificates:
(i) All payments on account of principal, including
Principal Prepayments (other than (A) payments of principal
due and payable on the Mortgage Loans on or before, and all
Principal Prepayments received before, the Cut-off Date,
(B) in the case of
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a substitute Mortgage Loan, payments of principal due and
payable on such Mortgage Loan on or before the
Determination Date in the month of substitution, and all
Principal Prepayments received before the first day of the
month of substitution, and (C in the case of a replaced
Mortgage Loan, payments of principal due and payable on
such Mortgage Loan after the Determination Date in the
month of substitution, and all Principal Prepayments
received in the month of substitution);
(ii) All payments (other than (A) those due and
payable on or before the Cut-off Date, (B) in the case of a
substitute Mortgage Loan, those due and payable on such
Mortgage Loan on or before the Determination Date in the
month of substitution, and (C) in the case of a replaced
Mortgage Loan, those due and payable on such Mortgage Loan
after the Determination Date in the month of substitution)
on account of interest at the applicable Remittance Rate on
the Mortgage Loan received from the related Mortgagor,
including any Buydown Funds applied with respect to
interest at the applicable Remittance Rate on any Buydown
Mortgage Loan;
(iii) All Liquidation Proceeds received by the Company
with respect to such Mortgage Loan and the Purchase Price
for any Mortgage Loan purchased by the Company pursuant to
Sections 2.02, 2.03 and 3.16 (including any amounts
received in respect of a substitution of a Mortgage Loan);
(iv) All Insurance Proceeds (including, for this
purpose, any amounts required to be credited by the Company
pursuant to the last sentence of Section 3.06) received by
the Company for the benefit of the Trust Fund, other than
proceeds to be applied to the restoration or repair of the
property subject to the related Mortgage or released, or to
be released, to the related Mortgagor in accordance with
the normal servicing procedures of the Company;
(v) All REO Proceeds;
(vi) All Unanticipated Recoveries; and
(vii) All amounts received by the Company with respect
to any Pledged Asset Mortgage Loan pursuant to the
liquidation of any Additional Collateral or pursuant to any
recovery under the Surety Bond in accordance with Section
4.09.
The foregoing requirements respecting credits to the
Mortgage Loan Payment Record are exclusive, it being understood
that, without limiting the generality of the foregoing, the
Company need not enter in the Mortgage Loan Payment Record
collections, Liquidation Proceeds or Insurance Proceeds in
respect of Mortgage Loans which have been previously released
from the terms of this Agreement, amounts representing fees or
late charge penalties payable by Mortgagors, or amounts received
by the Company for the account of Mortgagors for application
towards the payment of taxes, insurance premiums, assessments and
similar items.
(c) Subject to subsection (e) below, until the Business Day
prior to each Distribution Date on which amounts are required to
be transferred to the Certificate Account pursuant to subsection
(d) of this Section 3.02, the Company may retain and commingle
such amounts with
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its own funds and shall be entitled to retain for its own account
any gain or investment income thereon, and any such investment
income shall not be subject to any claim of the Trustee or
Certificateholders. To the extent that the Company realizes any
net loss on any such investments, the Company shall deposit in
the Certificate Account an amount equal to such net loss at the
time the Company is required to deposit amounts in the
Certificate Account pursuant to subsection (d) of this section
3.02. Any such deposit shall not increase the Company's
obligation under said subsection (d).
(d) The Trustee shall establish and maintain with the
Trustee in its corporate trust department a single separate trust
account designated in the name of the Trustee for the benefit of
the Holders of the Certificates issued hereunder (the
"Certificate Account") into which the Company shall transfer, not
later than 11:00 a.m. New York time on the Business Day prior to
each Distribution Date, an amount in next day funds equal to the
sum of Available Funds for such Distribution Date and any
Unanticipated Recoveries received in the calendar month preceding
the month of such Distribution Date. If the Trustee does not
receive such transfer by 2:00 p.m. on such Business Day, it shall
give the Company written notice thereof.
(e) If the Company or a Responsible Officer of the Trustee
obtains actual notice of or knowledge of the occurrence of either
(x) any Trigger Event or (y) the downgrade by S&P of General
Electric Capital Corporation's short-term senior unsecured debt
rating below A-1+ then, notwithstanding subsection (c) above, the
Company shall promptly establish, and thereafter maintain, one or
more Eligible Accounts in the name of the Trustee and bearing a
designation indicating that amounts therein are held for the
benefit of the Trustee and the Certificateholders, into which the
Company and any Primary Servicer shall deposit within two
Business Days after receipt, all amounts otherwise required to be
credited to the Mortgage Loan Payment Record pursuant to Section
3.02(b); provided, however, that such action shall not be
required if the Company delivers to the Trustee a letter from
each Rating Agency to the effect that the failure to take such
action will not cause such Rating Agency to withdraw or reduce
its then current ratings of the Certificates. All amounts so
deposited shall be held in trust for the benefit of
Certificateholders. Amounts so deposited may be invested at the
written instruction of the Company in Permitted Investments in
the name of the Trustee maturing no later than the Business Day
preceding the Distribution Date following the date of such
investment; provided, however, that any such Permitted Investment
which is an obligation of State Street Bank and Trust Company, in
its individual capacity and not in its capacity as Trustee, may
mature on such Distribution Date; and, provided further, that no
such Permitted Investment shall be sold before the maturity
thereof if the sale thereof would result in the realization of
gain prior to maturity unless the Company has obtained an Opinion
of Counsel that such sale or disposition will not cause the Trust
Fund to be subject to the tax on prohibited transactions under
section 860F of the Code, or otherwise subject the Trust Fund to
tax or cause the REMIC established hereunder to fail to qualify
as a REMIC. The Trustee shall maintain physical possession of all
Permitted Investments, other than Permitted Investments
maintained in book-entry form. The Company, as servicer, shall be
entitled to retain for its own account any gain or other income
from Permitted Investments, and neither the Trustee nor
Certificateholders shall have any right or claim with respect to
such income. The Company shall deposit an amount equal to any
loss realized on any Permitted Investment as soon as any such
loss is realized. If the provisions in this subsection (e) become
operable, references in this Agreement to the Mortgage Loan
Payment Record and credits and debits to such Record shall be
deemed to refer to Eligible Accounts and transfers to
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and withdrawals from such Eligible Accounts. Any action which may
be necessary to establish the terms of an account pursuant to
this Section 3.02(e) may be taken by an amendment or supplement
to this Agreement or pursuant to a written order of the Company,
which amendment, supplement or order shall not require the
consent of Certificateholders, provided that the Company has
delivered to the Trustee a letter from each Rating Agency to the
effect that such amendment, supplement or order will not cause
such Rating Agency to withdraw or reduce its then current ratings
of the Certificates.
Section 3.03. Collection of Taxes, Assessments and Other
Items. Other than with respect to any Cooperative Loan, the
Company shall establish and maintain with one or more depository
institutions one or more accounts into which it shall deposit all
collections of taxes, assessments, private mortgage or hazard
insurance premiums or comparable items for the account of the
Mortgagors. As servicer, the Company shall effect the timely
payment of all such items for the account of Mortgagors.
Withdrawals from such account or accounts may be made only to
effect payment of taxes, assessments, private mortgage or
standard hazard insurance premiums or comparable items, to
reimburse the Company out of related collections for any payments
made regarding taxes and assessments or for any payments made
pursuant to Section 3.05 regarding premiums on Primary Insurance
Policies and Section 3.06 regarding premiums on standard hazard
insurance policies, to refund to any Mortgagors any sums
determined to be overages, or to pay interest owed to Mortgagors
to the extent required by law.
Section 3.04. Permitted Debits to the Mortgage Loan Payment
Record. The Company (or any successor servicer pursuant to
Section 7.02) may, from time to time, make debits to the Mortgage
Loan Payment Record for the following purposes:
(i) To reimburse the Company or the applicable Primary
Servicer for Liquidation Expenses theretofore incurred in
respect of any Mortgage Loan in an amount not to exceed the
amount of the related Liquidation Proceeds credited to the
Mortgage Loan Payment Record pursuant to Section
3.02(b)(iii); provided that the Company or the applicable
Primary Servicer shall not be entitled to reimbursement for
Liquidation Expenses incurred after the initiation of
foreclosure proceedings in respect of any Defaulted
Mortgage Loan that is repurchased pursuant to Section 3.16;
(ii) To reimburse the Company or the applicable
Primary Servicer for Insured Expenses and amounts expended
by it pursuant to Section 3.08 in good faith in connection
with the restoration of property damaged by an Uninsured
Cause, in an amount not to exceed the amount of the related
Insurance Proceeds and Liquidation Proceeds (net of any
debits pursuant to clause (i) above) and amounts
representing proceeds of other insurance policies covering
the property subject to the related Mortgage credited to
the Mortgage Loan Payment Record pursuant to Section
3.02(b) (iii) and (iv);
(iii) To reimburse the Company to the extent permitted
by Sections 3.01(a) and 6.04;
(iv) To pay to the Company amounts received in respect
of any Defective Mortgage Loan or Defaulted Mortgage Loan
purchased by the Company to the extent that the
distribution of any such amounts on the Distribution Date
upon which the
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proceeds of such purchase are distributed would make the
total amount distributed in respect of any such Mortgage
Loan on such Distribution Date greater than the Purchase
Price therefor, net of any unreimbursed Monthly Advances
made by the Company;
(v) To reimburse the Company (or the Trustee, as
applicable) for Monthly Advances theretofore made in
respect of any Mortgage Loan to the extent of late
payments, REO Proceeds, Insurance Proceeds and Liquidation
Proceeds in respect of such Mortgage Loan;
(vi) To reimburse the Company from any Mortgagor
payment of interest or other recovery with respect to a
particular Mortgage Loan, to the extent not previously
retained by the Company, for unpaid Servicing Fees with
respect to such Mortgage Loan, subject to Section 3.08(d);
(vii) To reimburse the Company (or the Trustee, as
applicable) for any Nonrecoverable Advance (which right of
reimbursement of the Trustee pursuant to this clause shall
be prior to such right of the Company);
(viii) To make transfers of funds to the Certificate
Account pursuant to Section 3.02(d); and
(ix) To deduct any amount credited to the Mortgage
Loan Payment Record in error.
The Company shall keep and maintain separate
accounting records, on a Mortgage Loan by Mortgage Loan basis,
for the purpose of accounting for debits to the Mortgage Loan
Payment Record pursuant to clauses (i), (ii), (iv), (v) and (vi)
of this Section 3.04; provided, however, that it is understood
and agreed that the records of such accounting need not be
retained by the Company for a period longer than the five most
recent fiscal years.
Section 3.05. Maintenance of the Primary Insurance
Policies. (a) The Company shall not take any action which would
result in non-coverage under any applicable Primary Insurance
Policy of any loss which, but for the actions of the Company,
would have been covered thereunder. To the extent coverage is
available, the Company shall keep or cause to be kept in full
force and effect each such Primary Insurance Policy until the
principal balance of the related Mortgage Note is 80% or less of
the greater of (i) the related Original Value and (ii) the then
current value of the property underlying the related Mortgage
Note as evidenced by an appraisal thereof satisfactory to the
Company; provided that no such Primary Insurance Policy need be
kept in effect if doing so would violate applicable law. The
Company shall not cancel or refuse to renew any such Primary
Insurance Policy applicable to a Mortgage Loan that is in effect
at the Closing Date and is required to be kept in force hereunder
unless the replacement Primary Insurance Policy for such canceled
or non-renewed policy is maintained with an insurer whose
claims-paying ability is acceptable to each Rating Agency for
mortgage pass-through certificates having ratings equal to or
better than the ratings then assigned to the Certificates by such
Rating Agency. The Company agrees to effect the timely payment of
the premium on each Primary Insurance Policy, and such costs not
otherwise recoverable shall be recoverable by the Company from
related Insurance Proceeds and Liquidation Proceeds pursuant to
Section 3.04.
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(b) In connection with its activities as administrator and
servicer of the Mortgage Loans, the Company agrees to present, on
behalf of itself, the Trustee and the Certificateholders, claims
to the insurer under each Primary Insurance Policy and, in this
regard, to take such reasonable action as shall be necessary to
permit recovery under any Primary Insurance Policy respecting a
related defaulted Mortgage Loan. To the extent provided in
Section 3.02(b), any amounts collected by the Company under any
Primary Insurance Policy in respect of the Mortgage Loans
(including, without limitation, a Mortgage Loan purchased by a
related insurer) shall be credited to the Mortgage Loan Payment
Record.
Section 3.06. Maintenance of Hazard Insurance. The Company
shall cause to be maintained for each Mortgage Loan, other than a
Cooperative Loan, hazard insurance with a standard mortgagee
clause and with extended coverage in an amount which is at least
equal to the maximum insurable value of the improvements securing
such Mortgage Loan from time to time or the principal balance
owing on such Mortgage Loan from time to time, whichever is less.
The Company shall also maintain on property (other than
Cooperative Apartments) acquired upon foreclosure, or by deed in
lieu of foreclosure, hazard insurance with extended coverage in
an amount which is at least equal to the lesser of (i) the
maximum insurable value from time to time of the improvements
which are a part of such property or (ii) the unpaid principal
balance of such Mortgage Loan at the time of such foreclosure or
deed in lieu of foreclosure plus accrued interest and the
good-faith estimate of the Company of related Liquidation
Expenses to be incurred in connection therewith. To the extent
provided in Section 3.02(b)(iv), amounts collected by the Company
under any such policies in respect of the Mortgage Loans shall be
credited to the Mortgage Loan Payment Record. Such costs shall be
recoverable by the Company pursuant to Sections 3.03 and 3.04. In
cases in which property securing any Mortgage Loan other than a
Cooperative Loan is located in a federally designated flood area,
the hazard insurance to be maintained for such Mortgage Loan
shall include flood insurance. All such flood insurance shall be
in such amounts as are required under applicable guidelines of
FNMA. The Company shall be under no obligation to require that
any Mortgagor maintain earthquake or other additional insurance
and shall be under no obligation itself to maintain any such
additional insurance on property acquired in respect of a
Mortgage Loan, other than pursuant to such applicable laws and
regulations as shall at any time be in force and as shall require
such additional insurance. If the Company shall obtain and
maintain a blanket policy insuring against hazard losses on all
of the Mortgage Loans (whether or not including Cooperative
Loans), it shall conclusively be deemed to have satisfied its
obligations as set forth in the first sentence of this Section
3.06, it being understood and agreed that such policy may contain
a deductible clause, in which case the Company shall, in the
event that there shall not have been maintained on the related
Mortgaged Property a policy complying with the first sentence of
this Section 3.06, and there shall have been a loss which would
have been covered by such policy, credit to the Mortgage Loan
Payment Record the amount not otherwise payable under the blanket
policy because of such deductible clause.
Section 3.07. Assumption and Modification Agreements. (a)
In any case in which property subject to a Mortgage has been or
is about to be conveyed by the Mortgagor, the Company shall
exercise its right to accelerate the maturity of such Mortgage
Loan under any "due-on-sale" clause applicable thereto, unless in
the reasonable discretion of the Company, such exercise would
adversely affect or jeopardize coverage under the related Primary
Insurance Policy, if any; provided, however, that if the Company
is prevented, as provided in Section
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3.07(b), from enforcing any such clause, the Company is
authorized to make or enter into an assumption and modification
agreement from or with the Person to whom such property has been
or is about to be conveyed, pursuant to which such Person becomes
liable under the Mortgage Note and the Mortgagor remains liable
thereon. In connection with any such assumption and modification
agreement, the Company shall apply its then current underwriting
standards to such Person. The Company shall not make or enter
into any such assumption and modification agreement, however,
unless (to the extent practicable in the circumstances) it shall
have received confirmation of the continued effectiveness of any
applicable Primary Insurance Policy and hazard insurance policy.
The Company shall notify the Trustee that any assumption and
modification agreement has been completed by forwarding to the
Trustee the original copy thereof, which copy shall be added by
the Trustee to the related Mortgage File and shall, for all
purposes, be considered a part of such Mortgage File to the same
extent as all other documents and instruments constituting a part
thereof. In connection with any such agreement, the Mortgage
Rate, mortgage term and any other material term of such Mortgage
Loan shall not be changed. Any fee collected by the Company for
entering into any such agreement will be retained by the Company
as additional servicing compensation.
(b) Notwithstanding Section 3.07(a) or any other provision
of this Agreement, the Company shall not be deemed to be in
default, breach or any other violation of its obligations
hereunder by reason of any assumption of a Mortgage Loan, or
transfer of the property subject to a Mortgage without the
assumption thereof, by operation of law or any assumption or
transfer which the Company reasonably believes it may be
restricted by law from preventing, for any reason whatsoever.
Section 3.08. Realization Upon Defaulted Mortgage Loans.
(a) The Company shall foreclose upon or otherwise comparably
convert the ownership of properties securing such of the Mortgage
Loans as come into and continue in default and as to which no
satisfactory arrangements can be made for collection of
delinquent payments pursuant to Section 3.02. In connection with
such foreclosure or other conversion the Company shall,
consistent with Section 3.05, follow such practices and
procedures as it shall deem necessary or advisable and as shall
be normal and usual in its general mortgage servicing activities.
The foregoing is subject to the proviso that the Company shall
not be required to expend its own funds in connection with any
foreclosure or towards the restoration of any property unless it
shall determine (i) that such restoration or foreclosure will
increase the proceeds of liquidation of the Mortgage Loan to
Certificateholders after reimbursement to itself for such
expenses and (ii) that such expenses will be recoverable to it
either through Liquidation Proceeds or Insurance Proceeds.
Notwithstanding the foregoing, the Company shall not be entitled
to recover legal expenses incurred in connection with foreclosure
proceedings where the Mortgage Loan is reinstated and such
foreclosure proceedings are terminated prior to completion, other
than sums received from the Mortgagor for such expenses.
Notwithstanding anything to the contrary contained
herein, the Company shall be under no obligation to foreclose
upon or otherwise convert the ownership of any Mortgaged Property
which it believes may be contaminated with or affected by
hazardous or toxic wastes, materials or substances. The Company
may, but shall not be obligated to, make such determination on
the basis of a Phase I environmental assessment with respect to
the related Mortgaged Property. Neither the Trustee nor the
Company shall be liable to the Trust Fund or
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the Certificateholders if, based on the Company's belief that
such contamination or effect exists, the Company does not
foreclose upon or otherwise convert the ownership of a Mortgaged
Property. In addition, neither the Trustee nor the Company shall
be liable to the Trust Fund or the Certificateholders if, based
on the Company's belief that no such contamination or effect
exists, the Company forecloses upon a Mortgaged Property and the
Trustee or its nominee on behalf of the Trust Fund takes title to
such Mortgaged Property, and thereafter such Mortgaged Property
is determined to be so contaminated or affected.
(b) In the event that title to any Mortgaged Property is
acquired in foreclosure or by deed in lieu of foreclosure, the
deed or certificate of sale shall be issued to the Trustee, or to
its nominee on behalf of the Trust Fund. Notwithstanding any such
acquisition of title and cancellation of the related Mortgage
Loan, such Mortgage Loan shall (except for purposes of Section
9.01) be considered to be an Outstanding Mortgage Loan until such
time as the Mortgaged Property shall be sold and such Mortgage
Loan becomes a Liquidated Mortgage Loan. Consistent with the
foregoing, for purposes of all calculations hereunder so long as
such Mortgage Loan shall be considered to be an Outstanding
Mortgage Loan, it shall be assumed that the related Mortgage Note
and its amortization schedule in effect on and after such
acquisition of title (after giving effect to any previous
Principal Prepayments and Deficient Valuations incurred
subsequent to the related Bankruptcy Coverage Termination Date
and before any adjustment thereto by reason of any bankruptcy
(other than as aforesaid) or any similar proceeding or any
moratorium or similar waiver or grace period) remain in effect
(notwithstanding that the indebtedness evidenced by such Mortgage
Note shall have been discharged), subject to adjustment to
reflect the application of REO Proceeds received in any month.
REO Proceeds received in any month shall be applied to the
payment of the installments of principal due and interest accrued
on the related REO Mortgage Loan in accordance with the terms of
such Mortgage Note. REO Proceeds received in any month in excess
of the Amortization Payment for such month due on an REO Mortgage
Loan shall be treated as a Principal Prepayment received in
respect of such Mortgage Loan.
(c) In the event that the Trust Fund acquires any Mortgaged
Property as aforesaid or otherwise in connection with a default
or imminent default on a Mortgage Loan, the Company shall dispose
of such Mortgaged Property prior to the close of the third
calendar year after the year of its acquisition by the Trust Fund
unless (a) the Trustee shall have been supplied with an Opinion
of Counsel to the effect that the holding by the Trust Fund of
such Mortgaged Property subsequent to such period (and specifying
the period beyond such period for which the Mortgaged Property
may be held) will not result in the imposition of taxes on
"prohibited transactions" of the Trust Fund as defined in section
860F of the Code, or cause the REMIC established hereunder to
fail to qualify as a REMIC at any time that any Certificates are
outstanding, in which case the Trust Fund may continue to hold
such Mortgaged Property (subject to any conditions contained in
such Opinion of Counsel), or (b) the Trustee (at the Company's
expense) or the Company shall have applied for, not later than 61
days prior to the expiration of such period, an extension of such
period in the manner contemplated by section 856(e)(3) of the
Code, in which case such period shall be extended by the time
period permitted by section 856(e)(3) of the Code.
Notwithstanding any other provision of this Agreement, no
Mortgaged Property acquired by the Trust Fund shall be rented (or
allowed to continue to be rented) or otherwise used for the
production of income by or on behalf of the Trust Fund or sold in
such a manner or pursuant to any terms that would (i) cause such
Mortgaged Property to fail to
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qualify at any time as "foreclosure property" within the meaning
of section 860G(a)(8) of the Code, (ii) subject the Trust Fund to
the imposition of any federal or state income taxes on "net
income from foreclosure property" with respect to such Mortgaged
Property within the meaning of section 860G(c) of the Code, or
(iii) cause the sale of such Mortgaged Property to result in the
receipt by the Trust Fund of any income from non-permitted assets
as described in section 860F(a)(2)(B) of the Code, unless the
Company has agreed to indemnify and hold harmless the Trust Fund
with respect to the imposition of any such taxes.
(d) Any collection of Insurance Proceeds or Liquidation
Proceeds will be applied in the following order of priority:
first, to reimburse the Company for any related unreimbursed
Liquidation Expenses and to reimburse the Company or the Trustee,
as applicable, for any related unreimbursed Monthly Advances;
second, to accrued and unpaid interest on the Mortgage Loan at
the Mortgage Rate from the date to which interest was last paid
or advanced to the Due Date prior to the Distribution Date on
which such amounts are to be distributed; and third, as a
recovery of principal of the Mortgage Loan. If the amount so
allocated to interest is less than the full amount of accrued and
unpaid interest due on such Mortgage Loan, the amount of such
recovery will be allocated among the Base Servicing Fee at the
Base Servicing Fee Rate, the Supplemental Servicing Fee at the
Supplemental Servicing Fee Rate and interest at the Remittance
Rate in proportion to the amount of such accrued interest which
would have been allocated to each such category in the absence of
any shortfall. The resulting Interest Loss shall be allocated
among each such category in the same proportion as described in
the preceding sentence. The portion so allocated to interest at
the Remittance Rate shall be allocated to the Certificates for
purposes of making the allocation specified in the definition of
Certificate Interest Loss.
(e) Notwithstanding anything to the contrary contained
herein, the Company shall have the right to enter into an
agreement substantially in the form of Exhibit K hereto with any
Person that is the Holder of 100% of the Class B5 Certificates
(provided that such form may be revised to delete the option on
the part of such Person to purchase a defaulted Mortgage Loan as
set forth in Section 2.02(f) thereof). Prior to entering into any
such agreement with any Person, the Company shall obtain a
certification from such Person to the effect that (i) such Person
is not an "affiliate" (within the meaning of the Prohibited
Transaction Exemption) of the Trustee and (ii) such Person will
not purchase any Certificates if such purchase would cause such
Person to hold more than a ten percent interest in the Mortgage
Pool. It is understood that the right of the Company to be
reimbursed for Monthly Advances and Nonrecoverable Advances under
this Agreement shall not be affected in any way by the provisions
of any such agreement. The Trustee hereby agrees to perform such
obligations as may be expressly required of it pursuant to the
provisions of such agreement and to promptly notify each party to
such agreement if a Responsible Officer of the Trustee (with
direct responsibility for administration of this Agreement)
becomes aware of any discussions, plans or events that might lead
to the Trustee's becoming an "affiliate" (within the meaning of
the Prohibited Transaction Exemption) of any Person with which
the Company has entered into such agreement, provided that the
contents of any such notification shall be kept confidential by
the parties to such agreement. The Company agrees to promptly
notify the Trustee upon entering into any such agreement. In
addition, the Company shall provide the Trustee with such
information as may be necessary for the Trustee to perform its
obligations thereunder, including written instructions, clearly
identifying the source, amount and application of funds to be
deposited or withdrawn from the Collateral Fund (as
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defined in such agreement). The Trustee shall provide the Company
with such information concerning credits and debits to the
Collateral Fund on account of income, gains and losses realized
from Collateral Fund Permitted Investments (as defined in such
agreement), and costs associated with the purchase and sale
thereof, as the Company may request in order to prepare the
instructions described in the preceding sentence.
In addition, subject to the provisions of the
preceding paragraph, the Company shall have the right to enter
into an agreement substantially in the form of Exhibit K hereto
with the Person that is the Holder of 100% of the Class B4
Certificates, provided that (i) such Person is also the Holder of
100% of the Class B5 Certificates, (ii) such Person shall have no
rights under such agreement until the date on which the Class
Certificate Principal Balance of the Class B5 Certificates has
been reduced to zero, and (iii) any rights of such Person under
such agreement shall terminate in the event that such Person
transfers, directly or indirectly, the Class B4 Certificates to
any other Person.
Section 3.09. Trustee to Cooperate; Release of Mortgage
Files. Upon the payment in full of any Mortgage Loan, the Company
will immediately notify the Trustee by a certification (which
certification shall include a statement to the effect that all
amounts received in connection with such payment which are
required to be credited to the Mortgage Loan Payment Record
pursuant to Section 3.02 have been so credited) of a Servicing
Officer and shall request delivery to it of the Mortgage File. If
a Buydown Mortgage Loan is the subject of a Principal Prepayment
in full during the related Buydown Period, the related Buydown
Funds will be applied or returned to the Person entitled thereto
in accordance with the terms of such Buydown Mortgage Loan. Upon
receipt of such certification and request in form satisfactory to
the Trustee, the Trustee shall promptly, but in any event within
five Business Days, release the related Mortgage File to the
Company; provided, that the Trustee shall not be responsible for
any delay in the release of a Mortgage File resulting from acts
beyond its control, including without limitation, acts of God,
strikes, lockouts, riots, acts of war or terrorism, epidemics,
nationalization, governmental regulations imposed after the fact,
fire, communication line failures, computer viruses, power
failures, earthquakes or other disasters. Upon any such payment
in full, the Company is authorized to execute, pursuant to the
authorization contained in Section 3.01, an instrument of
satisfaction regarding such Mortgage, which instrument of
satisfaction shall be recorded by the Company if required by
applicable law and be delivered to the Person entitled thereto,
it being understood and agreed that no expenses incurred in
connection with such instrument of satisfaction shall be
reimbursed from amounts at the time credited to the Mortgage Loan
Payment Record. From time to time and as appropriate for the
servicing or foreclosure of any Mortgage Loan (including, without
limitation, collection under any Primary Insurance Policy), the
Trustee shall, upon request of the Company and delivery to the
Trustee of a receipt signed by a Servicing Officer, release the
related Mortgage File to the Company and shall execute such
documents as shall be necessary to the prosecution of any such
proceedings. Such receipt shall obligate the Company to return
the Mortgage File to the Trustee when the need therefor by the
Company no longer exists unless the Mortgage Loan shall be
liquidated, in which case, upon receipt of a certificate of a
Servicing Officer similar to that hereinabove specified, the
receipt shall be released by the Trustee to the Company.
Section 3.10. Servicing Compensation; Payment of Certain
Expenses by the Company. (a) As compensation for its activities
and obligations hereunder, the Company shall be entitled to
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withhold and pay to itself out of each payment received by it on
account of interest on each Mortgage Loan (including the portion
of any Buydown Funds applied to the related Buydown Mortgage Loan
for the applicable period) an amount equal to the Servicing Fee.
The aggregate of the Servicing Fees payable to the Company on any
Distribution Date shall be reduced by the amount of any
Compensating Interest Payment for such Distribution Date.
Additional servicing compensation in the form of Prepayment
Interest Excess, assumption fees, modification fees, late payment
charges, interest income or gain with respect to amounts
deposited in the Certificate Account and invested by the Company
or otherwise shall be retained by the Company, subject to Section
3.10(b), if applicable. The Company shall be required to pay all
expenses incurred by it in connection with its activities
hereunder (including payment of Trustee fees and all other fees
and expenses not expressly stated hereunder to be for the account
of the Certificateholders) and shall not be entitled to
reimbursement therefor except as provided in Sections 3.01, 3.03,
3.04 and 3.08.
(b) The Company may, as a condition to granting any request
by a Mortgagor for any consent, modification, waiver or amendment
or any other matter or thing, the granting of which is in the
Company's discretion pursuant to the terms of the instruments
evidencing or securing the related Mortgage Loan and is permitted
by other sections of this Agreement, require (to the extent
permitted by applicable law) that such Mortgagor pay to it a
reasonable or customary fee in accordance with the schedule set
forth as Exhibit H (which may be amended from time to time by
provision of a revised schedule of such fees to the Trustee,
whereupon such revised schedule shall be deemed to be Exhibit H
hereunder) for the additional services performed in connection
with such request, together with any related costs and expenses
incurred by it. Such fees shall be additional servicing
compensation to the Company.
Section 3.11. Reports to the Trustee; Certificate Account
Statements. Not later than 15 days after each Distribution Date,
the Company shall forward to the Trustee a statement, certified
by a Servicing Officer, setting forth the status of the Mortgage
Loan Payment Record as of the close of business on such
Distribution Date and showing, for the period covered by such
statement, the aggregate of credits to the Mortgage Loan Payment
Record for each category of credit specified in Section 3.02 and
each category of debit specified in Section 3.04.
Section 3.12. Annual Statement as to Compliance. The
Company will deliver to the Trustee, on or before March 31 of
each year, beginning with March 31, 1999, an Officer's
Certificate stating that (a) a review of the activities of the
Company during the preceding calendar year and of its performance
under this Agreement has been made under such Officer's
supervision and (b) to the best of such Officer's knowledge,
based on such review, the Company has fulfilled all its material
obligations under this Agreement throughout such year, or, if
there has been a default in the fulfillment of any such
obligation, specifying each such default known to such Officer
and the nature and status thereof.
Section 3.13. Annual Independent Public Accountants'
Servicing Report. On or before March 31 of each year, beginning
with March 31, 1999, the Company shall:
(a) furnish to a firm of independent public accountants
(which may also render other services to the Company) a statement
substantially to the effect that the Company has complied in all
material respects with the minimum servicing standards set forth
in the Uniform Single
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Attestation Program for Mortgage Bankers (the "Minimum Servicing
Standards") with respect to the mortgage loans in the Company's
servicing portfolio (which may exclude home equity loans) or, if
there has been material noncompliance with such servicing
standards, containing a description of such noncompliance; and
(b) at its expense cause such firm of independent public
accountants to furnish a report to the Trustee stating its
opinion as to the Company's assertion contained in the statement
delivered pursuant to Section 3.13(a), which opinion shall be
based on an examination conducted by such firm in accordance with
the standards established by the American Institute of Certified
Public Accountants, including examining, on a test basis,
evidence about the Company's compliance with the Minimum
Servicing Standards. Such opinion shall be to the effect that the
Company has complied in all material respects with the Minimum
Servicing Standards with respect to the mortgage loan portfolio
described in the Company's statement delivered pursuant to
Section 3.13(a) hereof or if there has been material
noncompliance with the Minimum Servicing Standards, shall contain
a description of such noncompliance in accordance with applicable
accounting standards. In rendering such report, such firm may
rely, as to matters relating to direct servicing of Mortgage
Loans by any primary servicer, upon comparable reports of
independent public accountants with respect to such primary
servicer.
Section 3.14. Access to Certain Documentation and
Information Regarding the Mortgage Loans. To the extent permitted
by applicable law, the Company shall provide to the Trustee,
Certificateholders which are regulated insurance entities and the
applicable insurance regulatory agencies thereof,
Certificateholders which are federally insured savings and loan
associations, the Office of Thrift Supervision, the FDIC and the
supervisory agents and examiners thereof access to the
documentation regarding the Mortgage Loans required by applicable
regulations of the Office of Thrift Supervision or of such
insurance regulatory agencies, as the case may be, such access
being afforded without charge but only upon reasonable request
and during normal business hours at the offices of the Company.
Nothing in this Section 3.14 shall derogate from the obligation
of the Company to observe any applicable law prohibiting
disclosure of information regarding the Mortgagors and the
failure of the Company to provide access as provided in this
Section 3.14 as a result of such obligation shall not constitute
a breach of this Section 3.14.
Section 3.15. Maintenance of Certain Servicing Policies.
The Company shall during the term of its service as servicer
maintain in force (i) a policy or policies of insurance covering
errors and omissions in the performance of its obligations as
servicer hereunder and (ii) a fidelity bond in respect of its
officers, employees or agents. Each such policy or policies and
bond shall, together, comply with the requirements from time to
time of FNMA for persons performing servicing for mortgage loans
purchased by such association.
Section 3.16. Optional Purchase of Defaulted Mortgage
Loans. The Company shall have the right, but not the obligation,
to purchase any Defaulted Mortgage Loan for a price equal to the
Purchase Price therefor. Any such purchase shall be accomplished
as provided in Section 4.04(a) hereof.
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ARTICLE IV
PAYMENTS AND STATEMENTS
Section 4.01. Distributions. (a) On each Distribution Date,
the Trustee shall withdraw the Available Funds from the
Certificate Account and shall make distributions to Holders of
the Certificates as of the preceding Record Date in the following
order of priority, to the extent of the remaining Available
Funds:
(i) to each Class of Senior Certificates (other than
any Class of Principal Only Certificates), the Accrued
Certificate Interest thereon for such Distribution Date;
provided, however, that any shortfall in available amounts
shall be allocated among such Classes in proportion to the
amount of Accrued Certificate Interest that would otherwise
be distributable thereto;
(ii) to each Class of Senior Certificates (other than
any Class of Principal Only Certificates), any related
Unpaid Class Interest Shortfall for such Distribution Date;
provided, however, that any shortfall in available amounts
shall be allocated among such Classes in proportion to the
Unpaid Class Interest Shortfall for each such Class on such
Distribution Date;
(iii) to the Classes of Senior Certificates in
reduction of the Class Certificate Principal Balances
thereof, as set forth in Exhibit O hereto without regard to
the use therein of the word "approximate" or any derivation
thereof; provided, however, that defined terms used in
Exhibit O shall have the meanings assigned thereto in
Article I hereof;
(iv) to the Class PO Certificates, any Class PO
Deferred Amount for such Distribution Date, up to an amount
not to exceed the Junior Optimal Principal Amount for such
Distribution Date, until the Class Certificate Principal
Balance of such Class has been reduced to zero; provided,
that any such amounts distributed to the Class PO
Certificates pursuant to this clause (iv) shall not reduce
the Class Certificate Principal Balance thereof;
(v) to the Class M Certificates, the Accrued
Certificate Interest thereon for such Distribution Date;
(vi) to the Class M Certificates, any Unpaid Class
Interest Shortfall therefor on such Distribution Date;
(vii) to the Class M Certificates, in reduction of the
Class Certificate Principal Balance thereof, such Class's
Allocable Share of the Junior Optimal Principal Amount on
such Distribution Date;
(viii) to the Class B1 Certificates, the Accrued
Certificate Interest thereon for such Distribution Date;
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(ix) to the Class B1 Certificates, any Unpaid Class
Interest Shortfall therefor on such Distribution Date;
(x) to the Class B1 Certificates, in reduction of the
Class Certificate Principal Balance thereof, such Class's
Allocable Share of the Junior Optimal Principal Amount on
such Distribution Date;
(xi) to the Class B2 Certificates, the Accrued
Certificate Interest thereon for such Distribution Date;
(xii) to the Class B2 Certificates, any Unpaid Class
Interest Shortfall therefor on such Distribution Date;
(xiii) to the Class B2 Certificates, in reduction of
the Class Certificate Principal Balance thereof, such
Class's Allocable Share of the Junior Optimal Principal
Amount on such Distribution Date;
(xiv) to the Class B3 Certificates, the Accrued
Certificate Interest thereon for such Distribution Date;
(xv) to the Class B3 Certificates, any Unpaid Class
Interest Shortfall therefor on such Distribution Date;
(xvi) to the Class B3 Certificates, in reduction of
the Class Certificate Principal Balance thereof, such
Class's Allocable Share of the Junior Optimal Principal
Amount on such Distribution Date;
(xvii) to the Class B4 Certificates, the Accrued
Certificate Interest thereon for such Distribution Date;
(xviii) to the Class B4 Certificates, any Unpaid Class
Interest Shortfall therefor on such Distribution Date;
(xix) to the Class B4 Certificates, in reduction of
the Class Certificate Principal Balance thereof, such
Class's Allocable Share of the Junior Optimal Principal
Amount on such Distribution Date;
(xx) to the Class B5 Certificates, the Accrued
Certificate Interest thereon for such Distribution Date;
(xxi) to the Class B5 Certificates, any Unpaid Class
Interest Shortfall therefor on such Distribution Date; and
(xxii) to the Class B5 Certificates, in reduction of
the Class Certificate Principal Balance thereof, such
Class's Allocable Share of the Junior Optimal Principal
Amount on such Distribution Date.
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Notwithstanding the foregoing, amounts otherwise distributable
pursuant to clauses (vii), (x), (xiii), (xvi), (xix) and (xxii)
on any Distribution Date shall be reduced, in inverse order of
priority, by any amount distributed pursuant to clause (iv) on
such date, such that such amount distributed pursuant to clause
(iv) on such date shall be applied first to reduce the amount
distributable pursuant to clause (xxii), and then, to the extent
of any excess, applied second, to reduce the amount distributable
pursuant to clause (xix), third, to reduce the amount
distributable pursuant to clause (xvi), fourth, to reduce the
amount distributable pursuant to clause (xiii), fifth, to reduce
the amount distributable pursuant to clause (x) and sixth, to
reduce the amount distributable pursuant to clause (vii).
(b) On each Distribution Date, the Trustee shall distribute
to the holder of the Class R Certificate any remaining Available
Funds for such Distribution Date after application of all amounts
described in clause (a) of this Section 4.01, together with any
Unanticipated Recoveries received by the Company in the calendar
month preceding the month of such Distribution Date and not
distributed on such Distribution Date to the holders of
outstanding Certificates of any other Class pursuant to Section
4.01(e). Any distributions pursuant to this clause (b) shall not
reduce the Class Certificate Principal Balance of the Class R
Certificate.
(c) If on any Distribution Date the Class Certificate
Principal Balances of the Junior Certificates have each been
reduced to zero, the amount distributable to the Senior
Certificates other than the Class PO Certificates pursuant to
Section 4.01(a)(iii) for such Distribution Date and each
succeeding Distribution Date shall be allocated among such
Classes of Senior Certificates, pro rata, on the basis of their
respective Class Certificate Principal Balances immediately prior
to such Distribution Date, regardless of the priorities and
amounts set forth in Section 4.01(a)(iii).
(d) If on any Distribution Date (i) the Class Certificate
Principal Balance of the Class M Certificates or any Class of
Class B Certificates for which the related Prepayment
Distribution Trigger was satisfied on such Distribution Date is
reduced to zero and (ii) amounts distributable pursuant to
clauses (ii), (iv) and (v) of the Junior Optimal Principal Amount
remain undistributed on such Distribution Date after all amounts
otherwise distributable on such date pursuant to clauses (iv)
through (xxii) of Section 4.01(a) have been distributed, such
amounts shall be distributed on such Distribution Date to the
remaining Classes of Junior Certificates in order of priority,
such that no such distribution shall be made to any Class of
Junior Certificates while a prior such Class is outstanding.
(e) In the event that in any calendar month the Company
recovers an amount (an "Unanticipated Recovery") in respect of
principal of a Mortgage Loan which had previously been allocated
as a Realized Loss to any Class of Certificates pursuant to
Section 4.03, on the Distribution Date in the next succeeding
calendar month the Trustee shall withdraw from the Certificate
Account and distribute to the holders of each outstanding Class
to which such Realized Loss had previously been allocated its
share (determined as described in the succeeding paragraph) of
such Unanticipated Recovery in an amount not to exceed the amount
of such Realized Loss previously allocated to such Class. When
the Class Certificate Principal Balance of a Class of
Certificates has been reduced to zero, the holders of such Class
shall not be entitled to any share of an Unanticipated Recovery,
and such Unanticipated Recovery shall be allocated among all
outstanding Classes of Certificates entitled thereto in
accordance with the preceding
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sentence, subject to the remainder of this subsection (e). In the
event that (i) any Unanticipated Recovery remains undistributed
in accordance with the preceding sentence or (ii) the amount of
an Unanticipated Recovery exceeds the amount of the Realized Loss
previously allocated to any outstanding Classes with respect to
the related Mortgage Loan, on the applicable Distribution Date
the Trustee shall distribute to the holders of all outstanding
Classes of the related Certificates to which Realized Losses had
previously been allocated and not reimbursed their pro rata share
(determined as described below) of such excess in an amount not
to exceed the aggregate amount of any Realized Loss previously
allocated to such Class with respect to any other Mortgage Loan
that has not been recovered in accordance with Section 4.01(e).
Any distributions made pursuant to this Section 4.01(e) shall not
reduce the Class Certificate Principal Balance of the related
Certificate.
For purposes of the preceding paragraph, the share of
an Unanticipated Recovery allocable to any Class of Certificates
with respect to a Mortgage Loan shall be (i) with respect to the
Class PO Certificates, based on the applicable PO Percentage of
the principal portion of the Realized Loss previously allocated
thereto with respect to such Mortgage Loan (or all Mortgage Loans
for purposes of the next to last sentence of the preceding
paragraph), and (ii) with respect to any other Class of
Certificates, based on its pro rata share (in proportion to the
Class Certificate Principal Balances thereof with respect to such
Distribution Date) of the applicable Non-PO Percentage of the
principal portion of any such Realized Loss previously allocated
with respect to such Mortgage Loan (or Loans); provided, however,
that (i) the share of an Unanticipated Recovery allocable to a
Class PO Certificate with respect to any Mortgage Loan (or Loans)
shall be reduced by the aggregate amount previously distributed
to such Class on account of the applicable Class PO Deferred
Amount in respect of such Mortgage Loan (or Loans) and (ii) the
amount by which the distributions to the Class PO Certificates
have been so reduced shall be distributed to the Classes of
Certificates described in clause (ii) of the preceding paragraph
in the same proportion as described in such clause (ii). For
purposes of the preceding sentence, any Class PO Deferred Amount
distributed to a Class PO Certificate on previous Distribution
Dates shall be deemed to have been allocated in respect of the
Mortgage Loans as to which the applicable PO Percentage of the
principal portion of Realized Losses has previously been
allocated to such Class on a pro rata basis (based on the amount
of Realized Losses so allocated).
Section 4.02. Method of Distribution. (a) All distributions
with respect to each Class of Certificates on each Distribution
Date shall be made pro rata among the outstanding Certificates of
such Class, based on the Percentage Interest in such Class
represented by each Certificate. Payments to the
Certificateholders on each Distribution Date will be made by the
Trustee to the Certificateholders of record on the related Record
Date (other than as provided in Section 9.01 respecting the final
distribution) by check or money order mailed to a
Certificateholder at the address appearing in the Certificate
Register, or upon written request by such Certificateholder to
the Trustee made not later than the applicable Record Date, by
wire transfer to a U.S. depository institution acceptable to the
Trustee, or by such other means of payment as such
Certificateholder and the Trustee shall agree.
(b) Each distribution with respect to a Book-Entry
Certificate shall be paid to the Depository, which shall credit
the amount of such distribution to the accounts of its Depository
Participants in accordance with its normal procedures. Each
Depository Participant shall be
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responsible for disbursing such distribution to the Certificate
Owners that it represents and to each Financial Intermediary for
which it acts as agent. Each Financial Intermediary shall be
responsible for disbursing funds to the Certificate Owners that
it represents. All such credits and disbursements with respect to
a Book-Entry Certificate are to be made by the Depository and the
Depository Participants in accordance with the provisions of the
applicable Certificates. Neither the Trustee nor the Company
shall have any responsibility therefor except as otherwise
provided by applicable law.
(c) The Trustee shall withhold or cause to be withheld such
amounts as it reasonably determines are required by the Code
(giving full effect to any exemptions from withholding and
related certifications required to be furnished by
Certificateholders or Certificate Owners and any reductions to
withholding by virtue of any bilateral tax treaties and any
applicable certification required to be furnished by
Certificateholders or Certificate Owners with respect thereto)
from distributions to be made to Non-U.S. Persons. If the Trustee
reasonably determines that a more accurate determination of the
amount required to be withheld for a distribution can be made
within a reasonable period after the scheduled date for such
distribution, it may hold such distribution in trust for a holder
of a Residual Certificate until such determination can be made.
For the purposes of this paragraph, a "Non-U.S. Person" is (i) an
individual other than a citizen or resident of the United States,
(ii) a partnership, corporation or entity treated as a
partnership or corporation for U.S. federal income tax purposes
not formed under the laws of the United States, any state thereof
or the District of Columbia (unless, in the case of a
partnership, Treasury regulations provide otherwise), (iii) any
estate, the income of which is not subject to U.S. federal income
taxation, regardless of source, and (iv) any trust, other than a
trust that a court within the United States is able to exercise
primary supervision over the administration of the trust and one
or more U.S. Persons have the authority to control all
substantial decisions of the trust.
Section 4.03. Allocation of Losses. (a) On or prior to each
Determination Date, the Company shall determine the amount of any
Realized Loss in respect of each Mortgage Loan that occurred
during the immediately preceding calendar month.
(b) With respect to any Distribution Date, the principal
portion of each Realized Loss (other than any Excess Loss) shall
be allocated as follows:
(i) the applicable PO Percentage of the principal
portion of any such Realized Loss shall be allocated to the
Class PO Certificates until the Class Certificate Principal
Balance thereof has been reduced to zero; and
(ii) the applicable Non-PO Percentage of the principal
portion of any such Realized Loss shall be allocated in the
following order of priority:
first, to the Class B5 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero;
second, to the Class B4 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero;
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third, to the Class B3 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero;
fourth, to the Class B2 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero;
fifth, to the Class B1 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero;
sixth, to the Class M Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero; and
seventh, to the Classes of Senior Certificates
other than the Class PO Certificates, pro rata, in
accordance with their Class Certificate Principal
Balances; provided, that any such loss allocated to
any Class of Accrual Certificates (and any Accrual
Component) shall be allocated (subject to Section
4.03(d)) on the basis of the lesser of (x) the Class
Certificate Principal Balance (or Component Principal
Balance) thereof immediately prior to the applicable
Distribution Date and (y) the Class Certificate
Principal Balance (or Component Principal Balance)
thereof on the Closing Date (as reduced by any
Realized Losses previously allocated thereto).
(c) With respect to any Distribution Date, the principal
portion of any Excess Loss (other than Excess Bankruptcy Losses
attributable to Debt Service Reductions) shall be allocated as
follows: (1) the PO Percentage of any such loss shall be
allocated to the Class PO Certificates, and (2) the Non-PO
Percentage of any such loss shall be allocated to each Class of
Certificates other than the Class PO Certificates, pro rata,
based on the respective Class Certificate Principal Balances
thereof; provided, that any such loss allocated to any Class of
Accrual Certificates (and any Accrual Component) shall be
allocated (subject to Section 4.03(d)) on the basis of the lesser
of (x) the Class Certificate Principal Balance (or Component
Principal Balance) thereof immediately prior to the applicable
Distribution Date and (y) the Class Certificate Principal Balance
(or Component Principal Balance) thereof on the Closing Date (as
reduced by any Realized Losses previously allocated thereto).
(d) Any Realized Losses allocated to a Class of
Certificates pursuant to Section 4.03(b) or (c) shall be
allocated among the Certificates of such Class in proportion to
their respective Certificate Principal Balances. In addition, any
Realized Losses allocated to any Class of Component Certificates
on a Distribution Date shall be allocated in reduction of the
Component Principal Balances of the related Components (other
than any Notional Component) in proportion to their respective
Component Principal Balances immediately prior to such
Distribution Date. Any allocation of Realized Losses pursuant to
this paragraph (d) shall be accomplished by reducing the
Certificate Principal Balance (or, in the case of any Component,
the Component Principal Balance) of the related Certificates (or
Components) on the related Distribution Date in accordance with
Section 4.03(e).
(e) Realized Losses allocated in accordance with this
Section 4.03 shall be allocated on the Distribution Date in the
month following the month in which such loss was incurred and,
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in the case of the principal portion thereof, after giving effect
to distributions made on such Distribution Date, except that the
aggregate amount of Realized Losses to be allocated to the Class
PO Certificates on such Distribution Date will be taken into
account in determining distributions in respect of any Class PO
Deferred Amount for such date.
(f) On each Distribution Date, the Company shall determine
the Subordinate Certificate Writedown Amount, if any. Any such
Subordinate Certificate Writedown Amount shall effect a
corresponding reduction in the Certificate Principal Balance of
the Subordinate Certificates, which reduction shall occur on such
Distribution Date after giving effect to distributions made on
such Distribution Date.
(g) Notwithstanding the foregoing, no such allocation of
any Realized Loss shall be made on a Distribution Date to a Class
of Certificates to the extent that such allocation would result
in the reduction of the aggregate Certificate Principal Balances
of all the Certificates as of such Distribution Date, after
giving effect to all distributions and prior allocations of
Realized Losses on such date, to an amount less than the
aggregate Scheduled Principal Balance of the Mortgage Loans as of
the first day of the month of such Distribution Date, less any
Deficient Valuations occurring on or prior to the Bankruptcy
Coverage Termination Date (such limitation, the "Loss Allocation
Limitation").
Section 4.04. Monthly Advances; Purchases of Defaulted
Mortgage Loans. (a) The Company shall be required to make Monthly
Advances in the manner and to the extent provided herein. Prior
to the close of business on each Determination Date, the Company
shall determine (i) the amount of the Monthly Advance which it is
required to make on the related Distribution Date and (ii)
whether it has elected to purchase any Defaulted Mortgage Loan or
Loans on such Distribution Date. If the Company so elects to
purchase any Defaulted Mortgage Loans (or is required to purchase
any Mortgage Loan pursuant to Section 2.02 or 2.03(a)), no
Monthly Advance shall be required with respect thereto for the
month in which such purchase occurs. The Company shall include
information as to each of such determinations in the Servicer's
Certificate furnished by it to the Trustee in accordance with
Section 4.06 and shall be obligated to transfer to the
Certificate Account pursuant to Section 3.02(d) on or before
11:00 a.m. New York time on the Business Day next preceding the
following Distribution Date in next-day funds the respective
amounts applicable to such determinations appearing in such
Servicer's Certificate. Upon receipt by the Trustee of written
notification signed by a Servicing Officer of any such deposit
relating to the purchase by the Company of such a Mortgage Loan,
the Trustee shall release to the Company the related Mortgage
File and shall execute and deliver such instruments of transfer
or assignment, in each case without recourse, as shall be
necessary to vest in the Company any Mortgage Loan released
pursuant hereto.
(b) In the event that the Company transfers or expects to
transfer less than the Available Funds required to be deposited
by it pursuant to Section 3.02(d), the Company shall so notify
the Trustee no later than 9:00 a.m. on the Business Day preceding
the related Distribution Date, and the amount so transferred, if
any, shall be deemed to have been transferred first pursuant to
clause (i) of the definition of Available Funds, second pursuant
to clause (iii) of the definition of Available Funds, and third
pursuant to clause (ii) of the definition of Available Funds.
Such notice shall specify each Mortgage Loan delinquent as of the
preceding Determination Date. In such event, the Trustee shall
make any Monthly Advance required to be
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made hereunder, in the manner and to the extent required;
provided, the Trustee shall not be so obligated if prohibited by
applicable law.
(c) In the event that the Company is succeeded hereunder as
servicer, the obligation to make Monthly Advances in the manner
and to the extent required by Section 4.04(a) shall be assumed by
the successor servicer (subject to Section 7.02).
Section 4.05. Statements to Certificateholders. Each month,
at least two Business Days prior to each Distribution Date, the
Company shall deliver to the Trustee for mailing to each
Certificateholder, and the Trustee shall mail to each
Certificateholder on such Distribution Date, a statement (each, a
"Distribution Date Statement") substantially in the form of
Exhibit J hereto, setting forth:
(i) The amount of such distribution to the
Certificateholders of each Class (and in respect of any
Component), other than any Notional Certificates (and any
Notional Component), allocable to principal, separately
identifying the aggregate amount of any Principal
Prepayments included therein (including, for this purpose,
the Scheduled Principal Balances of all Defaulted Mortgage
Loans and Defective Mortgage Loans purchased pursuant to
Section 2.02, 2.03(b) or 3.16, respectively, and any
amounts deposited pursuant to Section 2.03(b) in connection
with the substitution of any Mortgage Loans pursuant to
Section 2.02 or 2.03(a), the proceeds of which purchases or
substitutions are being distributed on such Distribution
Date);
(ii) The amount of such distribution to the
Certificateholders of each Class (other than any Class of
Principal Only Certificates) allocable to interest,
including any Accrual Amount added to the Class Certificate
Principal Balance or Component Principal Balance of any
Class of Accrual Certificates or any Accrual Components;
(iii) The amount of servicing compensation paid to the
Company during the month preceding the month of
distribution in respect of the Mortgage Loans and such
other customary information as the Company deems necessary
or desirable to enable Certificateholders to prepare their
tax returns;
(iv) The Pool Scheduled Principal Balance and the
aggregate number of the Mortgage Loans on the preceding Due
Date after giving effect to all distributions allocable to
principal made on such Distribution Date;
(v) The Class Certificate Principal Balance (or
Notional Principal Balance) of each Class, the Component
Principal Balance of each Component and the Certificate
Principal Balance (or Notional Principal Balance) of a
Single Certificate of each Class after giving effect to (i)
all distributions allocable to principal (or reductions in
the Notional Principal Balance, in the case of the Notional
Certificates, or the addition of any Accrual Amount, in the
case of any Class of Accrual Certificates) made on such
Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Certificate Writedown Amount for
such Distribution Date;
(vi) The Pay-out Rate applicable to each Class of
Certificates;
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(vii) The book value and unpaid principal balance of
any real estate acquired on behalf of Certificateholders
through foreclosure, or grant of a deed in lieu of
foreclosure or otherwise, of any REO Mortgage Loan, and the
number of the related Mortgage Loans;
(viii) The aggregate Scheduled Principal Balances and
number of Mortgage Loans which, as of the close of business
on the last day of the month preceding the related
Distribution Date, were (a) delinquent as to a total of (x)
30-59 days, (y) 60-89 days and (z) 90 days or more, and (b)
in foreclosure;
(ix) The Scheduled Principal Balance of any Mortgage
Loan replaced pursuant to Section 2.03(b);
(x) The Certificate Interest Rates of any LIBOR
Certificates and any COFI Certificates applicable to the
Interest Accrual Period relating to such Distribution Date
and such Class;
(xi) The Senior Percentage, the Group II Senior
Percentage and the Junior Percentage for such Distribution
Date;
(xii) The Senior Prepayment Percentage, the Group II
Senior Distribution Percentage and the Junior Prepayment
Percentage for such Distribution Date; and
(xiii) The amount of such distribution to the
Certificateholders of each Class allocable to Unanticipated
Recoveries.
In the case of information furnished pursuant to
clauses (i) through (iii) above, the amounts shall be expressed
as a dollar amount per Single Certificate.
In connection with any proposed transfer of a
Certificate that is purported to be made in reliance on Rule 144A
under the Securities Act, the Company shall be responsible for
furnishing such information as may be required thereunder to a
proposed transferee. In furtherance of the Company's obligations
hereunder, the Company hereby instructs the Trustee, at the
Company's expense and on its behalf, and the Trustee agrees, to
promptly make available to the proposed transferee, upon request
of the holder, (i) all statements furnished to Certificateholders
pursuant to this Section 4.05(a) on previous Distribution Dates,
(ii) all certificates furnished to the Trustee pursuant to
Section 4.06 in prior months, (iii) Officer's Certificates
furnished to the Trustee pursuant to Section 3.12 for the two
years preceding such request, (iv) reports of independent
accountants furnished to the Trustee pursuant to Section 3.13 for
the two years preceding such request, (v) a copy of the Private
Placement Memorandum relating to such Certificate, together with
any amendments or supplements thereto issued by the Company
(which copy shall be furnished to the Trustee by the Company),
and (vi) the Company's Current Report on Form 8-K, dated the
Closing Date, relating to the Mortgage Loans; provided, however,
that the Trustee shall in no event be required to make available
such statements or certificates pursuant to clauses (i) and (ii)
above relating to Distribution Dates occurring more than
twenty-four months preceding the month in which such request was
received; provided, further, however, that notwithstanding the
Trustee's agreement as aforesaid
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to provide such materials to a proposed transferee, the Trustee
does not assume, and shall not thereby be deemed to have assumed,
any responsibility for compliance by the Company with Rule 144A
(subject to the Trustee's agreement set forth in the second
sentence of this paragraph) and shall be entitled to include a
notice with such statements or certificates to the effect that
such materials have not been prepared or assembled by the Trustee
and that the Trustee assumes no responsibility for the adequacy,
sufficiency or contents thereof. In connection with any such
proposed transfer, the Company shall make available to the
proposed holder, at the request of the related transferor, such
additional information, if any, as may be required to be
delivered pursuant to Rule 144A(d)(4).
Section 4.06. Servicer's Certificate. Each month, not later
than the second Business Day next preceding each Distribution
Date, the Company shall deliver to the Trustee a completed
Servicer's Certificate.
Section 4.07. Reports of Foreclosures and Abandonments of
Mortgaged Property. The Trustee (or the Company on behalf of the
Trustee) shall, in each year beginning after 1998, make the
reports of foreclosures and abandonments of any Mortgaged
Property as required by section 6050J of the Code. In order to
facilitate this reporting process, the Company, on or before
January 15th of each year, shall provide to the Trustee reports
relating to each instance occurring during the previous calendar
year in which the Company (i) on behalf of the Trustee acquires
an interest in a Mortgaged Property through foreclosure or other
comparable conversion in full or partial satisfaction of a
Mortgage Loan, or (ii) knows or has reason to know that a
Mortgaged Property has been abandoned. Reports from the Company
shall be in form and substance sufficient to meet the reporting
requirements imposed by section 6050J of the Code.
Section 4.08. Reduction of Base Servicing Fees by
Compensating Interest Payments. The aggregate amount of the Base
Servicing Fees subject to retention by the Company as servicer in
respect of any Distribution Date shall be reduced by the amount
of any Compensating Interest Payment for such Distribution Date.
Section 4.09. Surety Bond. (a) If a Required Surety Payment
is payable pursuant to the Surety Bond with respect to any
Pledged Asset Mortgage Loan, the Company shall so notify the
Trustee as soon as reasonably practicable and shall, on behalf of
the Trustee for the benefit of the Certificateholders, promptly
complete the notice in the form of Attachment 1 to the Surety
Bond and shall promptly submit such notice to the Surety as a
claim for a Required Surety Payment.
(b) Upon receipt of a Required Surety Payment from the
Surety on behalf of the Certificateholders, the Company shall
promptly credit the Mortgage Loan Payment Record and shall
distribute such Required Surety Payment, or the proceeds thereof,
in accordance with the provisions of Section 4.01.
ARTICLE V
THE CERTIFICATES
Section 5.01. The Certificates. (a) The Certificates shall
be substantially in the forms set forth in Exhibit A hereto, as
applicable, and shall, on original issue, be executed by the
Trustee,
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not in its individual capacity but solely as Trustee, and
countersigned and delivered by the Trustee to or upon the order
of the Company as provided in Article II.
(b) The Certificates shall be issued in an aggregate
Initial Certificate Principal Balance of $475,922,798.28. Such
aggregate original principal balance shall be divided among the
Classes having the designations, Class Certificate Principal
Balances, Certificate Interest Rates and minimum denominations as
follows:
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Initial Class
Certificate Certificate
Principal Interest Minimum
Designation Balance Rate Denominations
- ----------- ------------- ----------- -------------
Class A1 $261,327,000.00 6.750% 25,000
Class A2 89,086,000.00 6.750 25,000
Class A3 30,235,235.00 (1) 25,000
Class A4 7,838,765.00 (1) 25,000
Class A5 1,500,000.00 6.750 1,000
Class A6 1,500,000.00 6.750 1,000
Class A7 2,000,000.00 6.750 1,000
Class A8 8,571,429.00 6.500 1,000
Class A9 5,000,000.00 7.000 1,000
Class A10 1,428,571.00 7.375 1,000
Class A11 47,500,000.00 6.750 25,000
Class PO 897,870.75 0.000 250,000
Class M 8,804,571.00 6.750 100,000
Class B1 3,807,382.00 6.750 100,000
Class B2 2,141,652.00 6.750 100,000
Class B3 1,903,691.00 6.750 250,000
Class B4 951,845.00 6.750 250,000
Class B5 1,428,686.53 6.750 250,000
Class R 100.00 6.750 100
- ----------------------.
(1) The Certificate Interest Rates of the Class A3 and Class A4
Certificates for each Interest Accrual Period shall be
determined as provided in Section 5.01(e).
(c) The Certificates shall be issuable in registered form
only. The Book-Entry Certificates will be evidenced by one or
more certificates, beneficial ownership of which will be held in
the minimum dollar denominations in Certificate Principal Balance
or Notional Principal Balance, as applicable, specified in
Section 5.01(b), and integral multiples of $1,000 in excess
thereof. The Non-Book-Entry Certificates other than the Residual
Certificate shall each be issued in the minimum dollar
denominations in Certificate Principal Balance or Notional
Principal Balance, as applicable, specified in Section 5.01(b),
and integral multiples of $1,000 in excess thereof (and, if
necessary, in the amount of the remaining Class Certificate
Principal Balance or Notional Principal Balance, as applicable,
of each Class, in the case of one Certificate of such Class). The
Residual Certificate shall be issued as a single certificate
evidencing the entire Class Certificate Principal Balance of such
Class and having a Percentage Interest of 100%. If necessary, one
Certificate of each Class of Book-Entry Certificates may evidence
an additional amount equal to the remainder of the Class
Certificate Principal Balance (or Notional Principal Balance) of
such Class.
(d) The Certificates shall be executed by manual or
facsimile signature on behalf of the Trustee by an authorized
officer under its seal, which may be in facsimile form and be
imprinted or otherwise reproduced thereon. Certificates bearing
the manual or facsimile
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signatures of individuals who were, at the time when such
signatures were affixed, authorized to sign on behalf of the
Trustee shall bind the Trustee, notwithstanding that such
individuals or any of them have ceased to be so authorized prior
to the authentication and delivery of such Certificates or did
not hold such offices at the date of such Certificate. No
Certificate shall be entitled to any benefit under this
Agreement, or be valid for any purpose, unless such Certificate
shall have been manually countersigned by the Trustee
substantially in the forms set forth in Exhibit A hereto, and
such countersignature upon any Certificate shall be conclusive
evidence, and the only evidence, that such Certificate has been
duly executed and delivered hereunder. All Certificates issued on
the Closing Date shall be dated the Closing Date; all
Certificates issued thereafter shall be dated the date of their
countersignature.
(e) During the first Interest Accrual Period, the
Certificate Interest Rate of the Class A3 Certificates shall be
6.45625% per annum. For each subsequent Interest Accrual Period,
the Certificate Interest Rate of the Class A3 Certificates shall
be a per annum rate equal to 0.800% plus LIBOR, subject to a
maximum rate of 8.500%.
During the first Interest Accrual Period, the
Certificate Interest Rate of the Class A4 Certificates shall be
7.88304% per annum. For each subsequent Interest Accrual Period,
the Certificate Interest Rate of the Class A4 Certificates shall
be a per annum rate equal to (i) 29.69999915% less (ii) the
product of 3.85714275% and LIBOR, subject to a minimum rate of
0.00%.
Section 5.02. Registration of Transfer and Exchange of
Certificates. (a) The Trustee shall cause to be kept at an office
or agency in the city in which the Corporate Trust Office of the
Trustee is located or in the City of New York, New York a
Certificate Register in which, subject to such reasonable
regulations as it may prescribe, the Trustee shall provide for
the registration of Certificates and of transfers and exchanges
of Certificates as herein provided. The Trustee shall initially
serve as Certificate Registrar for the purpose of registering
Certificates and transfers and exchanges of Certificates as
herein provided.
Subject to Sections 5.02(b) and 5.02(c), upon
surrender for registration of transfer of any Certificate at the
Corporate Trust Office, the Trustee shall execute, authenticate
and deliver, in the name of the designated transferee or
transferees, one or more new Certificates of the same Class in
authorized denominations of a like Percentage Interest.
At the option of a Certificateholder, Certificates may
be exchanged for other Certificates of authorized denominations
of a like Class and Percentage Interest, upon surrender of the
Certificates to be exchanged at any such office or agency.
Whenever any Certificates are so surrendered for exchange the
Trustee shall execute, countersign and deliver the Certificates
which the Certificateholder making the exchange is entitled to
receive. Every Certificate presented or surrendered for
registration of transfer or exchange shall be accompanied by a
written instrument of transfer in form satisfactory to the
Trustee and the Certificate Registrar duly executed by the Holder
thereof or his attorney duly authorized in writing.
No service charge shall be made for any registration
of transfer or exchange of Certificates, but the Trustee may
require payment of a sum sufficient to cover any tax or
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governmental charge that may be imposed in connection with any
transfer or exchange of Certificates.
All Certificates surrendered for registration of
transfer and exchange shall be canceled and subsequently
destroyed by the Trustee and a certificate of destruction shall
be delivered by the Trustee to the Company.
(b) No legal or beneficial interest in all or any portion
of the Residual Certificates may be transferred directly or
indirectly to (i) Disqualified Organization or an agent of a
Disqualified Organization (including a broker, nominee, or
middleman), (ii) an entity that holds REMIC residual securities
as nominee to facilitate the clearance and settlement of such
securities through electronic book-entry changes in accounts of
participating organizations (a "Book-Entry Nominee"), or (iii) an
individual, corporation, partnership or other person unless such
transferee (A) is not a Non-U.S. Person or (B) is a Non-U.S.
Person that holds a Residual Certificate in connection with the
conduct of a trade or business within the United States and has
furnished the transferor and the Trustee with an effective
Internal Revenue Service Form 4224 or (C) is a Non-U.S. Person
that has delivered to both the transferor and the Trustee an
opinion of a nationally recognized tax counsel to the effect that
the transfer of a Residual Certificate to it is in accordance
with the requirements of the Code and the regulations promulgated
thereunder and that such transfer of a Residual Certificate will
not be disregarded for federal income tax purposes (any such
person who is not covered by clause (A), (B) or (C) above being
referred to herein as a "Non-permitted Foreign Holder"), and any
such purported transfer shall be void and have no effect. The
Trustee shall not execute, and shall not authenticate and
deliver, a Residual Certificate in connection with any transfer
thereof unless the transferor shall have provided to the Trustee
an affidavit, substantially in the form attached as Exhibit F
hereto, signed by the transferee, to the effect that the
transferee is not such a Disqualified Organization, an agent
(including a broker, nominee, or middleman) for any entity as to
which the transferee has not received a substantially similar
affidavit, a Book-Entry Nominee or a Non-permitted Foreign
Holder, which affidavit shall contain the consent of the
transferee to any such amendments of this Agreement as may be
required to further effectuate the foregoing restrictions on
transfer of the Residual Certificates to Disqualified
Organizations, Book-Entry Nominees or Non-permitted Foreign
Holders, and an agreement by the Transferee that it will not
transfer a Residual Certificate without providing to the Trustee
an affidavit substantially in the form attached as Exhibit F
hereto and a letter substantially in the form attached as Exhibit
G hereto. Such affidavit shall also contain the statement of the
transferee that (i) it does not have the intention to impede the
assessment or collection of any federal, state or local taxes
legally required to be paid with respect to the Residual
Certificates and (ii) it understands that it may incur tax
liabilities in excess of cash flows generated by a Residual
Certificate and that it intends to pay taxes associated with
holding a Residual Certificate as they become due.
The affidavit described in the preceding paragraph, if
not executed in connection with the initial issuance of the
Residual Certificates, shall be accompanied by a written
statement in the form attached as Exhibit G hereto, signed by the
transferor, to the effect that as of the time of the transfer,
the transferor has (i) no actual knowledge that the transferee is
a Disqualified Organization, Book-Entry Nominee or Non-permitted
Foreign Holder, (ii) no reason to believe that the transferee has
the intention to impede the assessment or collection of any
federal, state or local taxes legally required to be paid with
respect to a Residual Certificate, and (iii) conducted a
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reasonable investigation and found that the transferee had
historically paid its debts as they came due and found no
significant evidence to indicate that the transferee will not
continue to pay its debts as they become due. The Residual
Certificates shall bear a legend referring to the foregoing
restrictions contained in this paragraph and the preceding
paragraph.
Upon notice to the Company that any legal or
beneficial interest in any portion of the Residual Certificates
has been transferred, directly or indirectly, to a Disqualified
Organization or agent thereof (including a broker, nominee, or
middleman) in contravention of the foregoing restrictions, (i)
such transferee shall be deemed to hold the Residual Certificate
in constructive trust for the last transferor who was not a
Disqualified Organization or agent thereof, and such transferor
shall be restored as the owner of such Residual Certificate as
completely as if such transfer had never occurred, provided that
the Company may, but is not required to, recover any
distributions made to such transferee with respect to the
Residual Certificate and return such recovery to the transferor,
and (ii) the Company agrees to furnish to the Internal Revenue
Service and to any transferor of the Residual Certificate or such
agent (within 60 days of the request therefor by the transferor
or agent) such information necessary to the application of
section 860E(e) of the Code as may be required by the Code,
including but not limited to the present value of the total
anticipated excess inclusions with respect to the Residual
Certificate (or portion thereof) for periods after such transfer.
At the election of the Company, the cost to the Company of
computing and furnishing such information may be charged to the
transferor or such agent referred to above; however, the Company
shall in no event be excused from furnishing such information.
The restrictions on transfers of the Residual
Certificates set forth in the preceding three paragraphs shall
cease to apply to transfers (and the applicable portions of the
legend to the Residual Certificates may be deleted) after
delivery to the Trustee of an Opinion of Counsel to the effect
that the elimination of such restrictions will not cause the
REMIC established hereunder to fail to qualify as a REMIC at any
time that the Certificates are outstanding.
No transfer of a Restricted Certificate shall be made
unless such transfer is made pursuant to an effective
registration statement under the Securities Act of 1933, as
amended (the "Act"), and any applicable state securities laws, in
each case as evidenced by an Officer's Certificate, or is exempt
from the registration requirements of the Act and any applicable
state securities laws. In the event of such registration, any
restrictive legends set forth in the form of the relevant
Restricted Certificate in Exhibit A hereto with respect to the
Act and state securities law restrictions shall be removed by the
Trustee upon request of the Holder thereof and automatically upon
exchange or registration of transfer thereof. As a condition to
any transfer that is to be made in reliance upon an exemption
from the Act and such laws of a (i) Class PO Certificate or (ii)
Restricted Junior Certificate to any person other than a QIB (as
certified by the proposed transferee in the form of assignment
attached to the related Certificate), either (x) the Trustee
shall require the transferee to execute an investment letter in
the form substantially as set forth in Exhibit I hereto or in
such other form as may be acceptable to the Trustee, certifying
as to the facts surrounding such transfer, or (y) in lieu of such
investment letter, the Trustee may accept a written Opinion of
Counsel (in form and substance acceptable to the Trustee) that
such proposed transfer may be made pursuant to an exemption from
the Act. As an additional condition to any transfer of a
Restricted Certificate, either (i) the transferor and the
transferee shall complete the form of assignment attached to the
Certificate proposed to be transferred, or
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(ii) the Trustee shall have received the above-referenced Opinion
of Counsel. The holder of any Restricted Certificate desiring to
effect the transfer thereof to a person other than a QIB shall,
and hereby agrees to, comply with any applicable conditions set
forth in the preceding two sentences and indemnify the Trustee
and the Company against any liability that may result if the
transfer thereof is not so exempt or is not made in accordance
with such federal and state laws. Such agreement to so indemnify
the Trustee and the Company shall survive the termination of this
Agreement. Notwithstanding the foregoing, no Opinion of Counsel
or investment letter shall be required upon the original issuance
of (i) the Restricted Junior Certificates to the Initial
Purchaser (as defined in the Private Placement Memorandum) or its
nominee and (ii) the Class PO Certificates to the Company or upon
any subsequent transfer of any Class PO Certificate by the
Company, provided that if any Restricted Junior Certificates are,
at the request of the Initial Purchaser, registered in the name
of its nominee, the Initial Purchaser shall be deemed to
acknowledge and agree with the Company and the Trustee that no
transfer of a beneficial interest in such Certificates will be
made without registering such Certificates in the name of the
transferee, which shall be a Person other than such nominee. Any
opinion or letter required pursuant to this paragraph shall not
be at the expense of the Trust Fund or the Trustee.
(c) (i) No transfer of an ERISA-Restricted Certificate in
the form of a Definitive Certificate shall be made to any Person
unless the Trustee has received (A) a certificate (substantially
in the form of Exhibit E or such other form as is acceptable to
the Company and the Trustee) from such transferee to the effect
that such transferee (i) is not a Plan or a Person that is using
the assets of a Plan to acquire such ERISA-Restricted Certificate
or (ii) is an insurance company investing assets of its general
account and the exemptions provided by Section III(a) of
Department of Labor Prohibited Transaction Class Exemption 95-60,
60 Fed. Reg. 35925 (July 12, 1995) (the "Exemptions") apply to
the transferee's acquisition and holding of any ERISA-Restricted
Certificate or (B) an opinion of counsel satisfactory to the
Trustee and the Company to the effect that the purchase and
holding of such a Certificate will not constitute or result in
the assets of the Trust Fund being deemed to be "plan assets"
subject to the prohibited transactions provisions of ERISA or
Section 4975 of the Code and will not subject the Trustee or the
Company to any obligation in addition to those undertaken in the
Agreement; provided, however, that the Trustee will not require
such certificate or opinion in the event that, as a result of a
change of law or otherwise, counsel satisfactory to the Trustee
has rendered an opinion to the effect that the purchase and
holding of an ERISA-Restricted Certificate by a Plan or a Person
that is purchasing or holding such a Certificate with the assets
of a Plan will not constitute or result in a prohibited
transaction under ERISA or Section 4975 of the Code. The
preparation and delivery of the certificate and opinions referred
to above shall not be an expense of the Trust Fund, the Trustee
or the Company. Notwithstanding the foregoing, no opinion or
certificate shall be required for the initial issuance of the
ERISA-Restricted Certificates.
(ii) No transfer of a Residual Certificate shall be
made to any Person unless the Trustee has received a
certification (substantially in the form of paragraph 4 of
Exhibit F) from such transferee to the effect that, among
other things, such transferee is not a Plan or a Person
that is using the assets of a Plan to acquire any such
Certificate. The preparation and delivery of such
certificate shall not be an expense of the Trust Fund, the
Trustee or the Company.
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(d) Subject to Section 8.01(i) hereof, the Trustee may
conclusively rely upon any certificate, affidavit or opinion
delivered pursuant to Section 5.02(b) or (c). Any certificate or
affidavit required to be delivered by a transferee under this
Section 5.02 may be executed and delivered in the name of such
transferee by its attorney-in-fact duly authorized in writing in
form and substance satisfactory to the Trustee.
(e) Except as to any additional Certificate of any Class of
Book-Entry Certificates held in physical certificated form
pursuant to Section 5.02(g) or any Restricted Junior Certificate
of any Class of Book-Entry Certificates that is transferred to an
entity other than a QIB, the Book-Entry Certificates shall,
subject to Section 5.02(f), at all times remain registered in the
name of the Depository or its nominee and at all times: (i)
registration thereof may not be transferred by the Trustee except
to another Depository; (ii) the Depository shall maintain
book-entry records with respect to the Certificate Owners and
with respect to ownership and transfers of such Certificates;
(iii) ownership and transfers of registration of the Certificates
issued in book-entry form on the books of the Depository shall be
governed by applicable rules established by the Depository and
the rights of Certificate Owners with respect to Book-Entry
Certificates shall be governed by applicable law and agreements
between such Certificate Owners and the Depository, Depository
Participants, and indirect participating firms; (iv) the
Depository may collect its usual and customary fees, charges and
expenses from its Depository Participants; (v) the Trustee shall
deal with the Depository, Depository Participants and indirect
participating firms as authorized representatives of the
Certificate Owners of the Certificates issued in book-entry form
for all purposes including the making of payments due on the
Book-Entry Certificates and exercising the rights of Holders
under this Agreement, and requests and directions for and votes
of such representatives shall not be deemed to be inconsistent if
they are made with respect to different Certificate Owners; (vi)
the Trustee may rely and shall be fully protected in relying upon
information furnished by the Depository with respect to its
Depository Participants and furnished by the Depository
Participants with respect to indirect participating firms and
persons shown on the books of such indirect participating firms
as direct or indirect Certificate Owners; (vii) Certificate
Owners shall not be entitled to certificates for the Book-Entry
Certificates and (viii) the Trustee may establish a reasonable
record date in connection with solicitations of consents from or
voting by Certificateholders and give notice to the Depository of
such record date.
All transfers by Certificate Owners of Book-Entry
Certificates shall be made in accordance with the procedures
established by the Depository Participant or brokerage firm
representing such Certificate Owner. Each Depository Participant
shall only transfer Book-Entry Certificates of Certificate Owners
it represents or of brokerage firms for which it acts as agent in
accordance with the Depository's normal procedures. Except as
provided herein, the Trustee shall have no duty to monitor or
restrict the transfer of Certificates or interests therein, and
shall have no liability for any transfer, including any transfer
made through the book-entry facilities of the Depository or
between or among Depository Participants or Certificate Owners,
made in violation of applicable restrictions set forth herein,
except in the event of the failure of the Trustee to perform its
duties and fulfill its obligations under this Agreement.
(f) If (x)(i) the Company or the Depository advises the
Trustee in writing that the Depository is no longer willing,
qualified or able to properly discharge its responsibilities as
Depository, and (ii) the Trustee or the Company is unable to
locate a qualified successor, (y) the
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Company at its option advises the Trustee in writing that it
elects to terminate the book-entry system through the Depository
or (z) after the occurrence of an Event of Default, Certificate
Owners representing not less than 51% of the aggregate Voting
Rights allocated to the Book-Entry Certificates together advise
the Trustee and the Depository through the Depository
Participants in writing that the continuation of a book-entry
system through the Depository is no longer in the best interests
of the Certificate Owners, the Trustee shall notify all
Certificate Owners, through the Depository, of the occurrence of
any such event and of the availability of Definitive Certificates
to Certificate Owners requesting the same. Upon surrender to the
Trustee of such Certificates by the Depository, accompanied by
registration instructions from the Depository for registration,
the Trustee shall issue the Definitive Certificates. Neither the
Company nor the Trustee shall be liable for any delay in delivery
of such instructions and may conclusively rely on, and shall be
protected in relying on, such instructions. Upon the issuance of
Definitive Certificates all references herein to obligations
imposed upon or to be performed by the Depository shall be deemed
to be imposed upon and performed by the Trustee, to the extent
applicable with respect to such Definitive Certificates and the
Trustee shall recognize the Holders of the Definitive
Certificates as Certificateholders hereunder.
(g) On or prior to the Closing Date, there shall be
delivered to the Depository (or to State Street Bank and Trust
Company acting as custodian for the Depository pursuant to the
Depository's procedures) one certificate for each Class of
Book-Entry Certificates registered in the name of the
Depository's nominee, Cede & Co. The face amount of each such
Certificate shall represent 100% of the initial Class Certificate
Principal Balance thereof, except for such amount that does not
constitute an acceptable denomination to the Depository. An
additional Certificate of each Class of Book-Entry Certificates
may be issued evidencing such remainder and, if so issued, will
be held in physical certificated form by the Holders thereof.
Each Certificate issued in book-entry form shall bear the
following legend:
"Unless this Certificate is presented by an authorized
representative of The Depository Trust Company, a New York
corporation ("DTC"), to Issuer or its agent for registration of
transfer, exchange, or payment, and any certificate issued is
registered in the name of Cede & Co. or in such other name as
requested by an authorized representative of DTC (and any payment
is made to Cede & Co. or to such other entity as is requested by
an authorized representative of DTC), ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has
an interest herein."
Section 5.03. Mutilated, Destroyed, Lost or Stolen
Certificates. If (a) any mutilated Certificate is surrendered to
the Certificate Registrar, or the Certificate Registrar receives
evidence to its satisfaction of the destruction, loss or theft of
any Certificate and (b) there is delivered to the Company, the
Certificate Registrar and the Trustee such security or indemnity
as may be required by them to save each of them harmless, then,
in the absence of notice to the Certificate Registrar or the
Trustee that such Certificate has been acquired by a bona fide
purchaser, the Trustee shall execute, countersign and deliver, in
exchange for or in lieu of any such mutilated, destroyed, lost or
stolen Certificate, a new Certificate of like tenor, Class and
Percentage Interest. In connection with the issuance of any new
Certificate under this Section 5.03, the Trustee may require the
payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in relation thereto and
any other expenses (including
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the fees and expenses of the Trustee and the Certificate
Registrar) connected therewith. Any duplicate Certificate issued
pursuant to this Section 5.03 shall constitute complete and
indefeasible evidence of ownership in the Trust Fund, as if
originally issued, whether or not the lost, stolen or destroyed
Certificate shall be found at any time.
Section 5.04. Persons Deemed Owners. Prior to due
presentation of a Certificate for registration of transfer, the
Company, the Trustee, the Certificate Registrar and any agent of
the Company, the Trustee or the Certificate Registrar may treat
the person in whose name any Certificate is registered as the
owner of such Certificate for the purpose of receiving
distributions pursuant to Section 4.01 and for all other purposes
whatsoever, and neither the Company, the Trustee, the Certificate
Registrar nor any agent of the Company, the Trustee or the
Certificate Registrar shall be affected by any notice to the
contrary.
Section 5.05. Access to List of Certificateholders' Names
and Addresses. The Certificate Registrar will furnish or cause to
be furnished to the Company, within 15 days after receipt by the
Certificate Registrar of request therefor from the Company in
writing, a list, in such form as the Company may reasonably
require, of the names and addresses of the Certificateholders as
of the most recent Record Date for payment of distributions to
Certificateholders. If three or more Certificateholders
(hereinafter referred to as "applicants") apply in writing to the
Trustee, and such application states that the applicants desire
to communicate with other Certificateholders with respect to
their rights under this Agreement or under the Certificates and
is accompanied by a copy of the communication which such
applicants propose to transmit, then the Trustee shall, within
five Business Days after the receipt of such application, afford
such applicants access during normal business hours to the most
recent list of Certificateholders held by the Trustee. If such
list is as of a date more than 90 days prior to the date of
receipt of such applicants' request, the Trustee shall promptly
request from the Certificate Registrar a current list as provided
above, and shall afford such applicants access to such list
promptly upon receipt. Every Certificateholder, by receiving and
holding a Certificate, agrees with the Certificate Registrar and
the Trustee that neither the Certificate Registrar nor the
Trustee shall be held accountable by reason of the disclosure of
any such information as to the names and addresses of the
Certificateholders hereunder, regardless of the source from which
such information was derived.
Section 5.06. Representation of Certain Certificateholders.
The fiduciary of any Plan which becomes a Holder of a
Certificate, by virtue of its acceptance of such Certificate,
will be deemed to have represented and warranted to the Trustee
and the Company that such Plan is an "accredited investor" as
defined in Rule 501(a)(1) of Regulation D promulgated by the
Securities and Exchange Commission under the Securities Act of
1933.
Section 5.07. Determination of COFI. (a) If the outstanding
Certificates include any COFI Certificates, then on each COFI
Determination Date the Trustee shall determine the value of COFI
on the basis of the most recently available Information Bulletin
referred to in the definition of "COFI". The establishment of
COFI by the Trustee and the Trustee's subsequent calculation of
the rates of interest applicable to the COFI Certificates for
each Interest Accrual Period shall (in the absence of manifest
error) be final and binding. During each Interest Accrual Period,
the Certificate Interest Rate for the COFI Certificates for the
current and immediately
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preceding Interest Accrual Period shall be made available by the
Trustee to Certificate Owners and Certificateholders at the
following telephone number: (617) 664-5500.
(b) The failure by the Federal Home Loan Bank of San
Francisco to publish COFI for a period of 65 calendar days will
constitute an "Alternative Rate Event" for purposes hereof. Upon
the occurrence of an Alternative Rate Event, the Company will
calculate the Certificate Interest Rates for the COFI
Certificates for the subsequent Interest Accrual Periods by
using, in place of COFI, (i) the replacement index, if any,
published or designated by the Federal Home Loan Bank of San
Francisco or (ii) if no replacement index is so published or
designated, an alternative index to be selected by the Company
that has performed, or that the Company expects to perform, in a
manner substantially similar to COFI. At the time an alternative
index is first selected by the Company, the Company shall
determine the average number of basis points, if any, by which
the alternative index differed from COFI for such period as the
Company, in its sole discretion, reasonably determines to reflect
fairly the long-term difference between COFI and the alternative
index, and shall adjust the alternative index by such average.
The Company shall select a particular index as an alternative
only if it receives an Opinion of Counsel to the effect that the
selection of such index will not cause any REMIC established
hereunder to fail to qualify as a REMIC for federal income tax
purposes. In the absence of manifest error, the selection of any
alternative index as provided by this Section 5.07(b) shall be
final and binding for each subsequent Interest Accrual Period.
Upon the occurrence of an Alternative Rate Event, the Trustee
shall have no responsibility for the determination of any
alternative index or the calculation of the Certificate Interest
Rates for the COFI Certificates.
(c) If at any time after the occurrence of an Alternative
Rate Event the Federal Home Loan Bank of San Francisco resumes
publication of COFI, the Certificate Interest Rates for the COFI
Certificates for each Interest Accrual Period commencing
thereafter will be calculated by reference to COFI.
Section 5.08. Determination of LIBOR. (a) If the
outstanding Certificates include any LIBOR Certificates, then on
each LIBOR Determination Date the Trustee shall determine LIBOR
for the related Interest Accrual Period as such rate equal to the
Interest Settlement Rate. If such rate does not appear on the
Designated Telerate Page as of 11:00 a.m., London time, on the
applicable LIBOR Determination Date:
(i) The Trustee will request the principal London
office of each Reference Bank (as defined in Section
5.08(e)) to provide such bank's offered quotation
(expressed as a percentage per annum) to prime banks in the
London interbank market for one-month U.S. Dollar deposits
as of 11:00 a.m., London time, on the applicable LIBOR
Determination Date.
(ii) If on any LIBOR Determination Date, two or more
of the Reference Banks provide such offered quotations,
LIBOR for the next Interest Accrual Period will be the
arithmetic mean of such offered quotations (rounding such
arithmetic mean upwards, if necessary, to the nearest whole
multiple of 1/16%). If on any LIBOR Determination Date only
one or none of the Reference Banks provide such offered
quotations, LIBOR for the next Interest Accrual Period will
be the rate per annum the Trustee determines to be the
arithmetic mean (rounding such arithmetic mean upwards, if
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necessary, to the nearest whole multiple of 1/16%) of the
one-month Eurodollar lending rate that three major banks in
New York City selected by the Trustee are quoting as of
approximately 11:00 a.m., New York City time, on the first
day of the applicable Interest Accrual Period.
(iii) If on any LIBOR Determination Date the Trustee
is required but unable to determine LIBOR in the manner
provided in subparagraph (ii) of this Section 5.08(a),
LIBOR for the next Interest Accrual Period will be LIBOR as
determined on the previous LIBOR Determination Date, or, in
the case of the first LIBOR Determination Date, the Initial
LIBOR Rate.
(b) The establishment of LIBOR by the Trustee and the
Trustee's subsequent calculation of the Certificate Interest
Rates applicable to the LIBOR Certificates for the relevant
Interest Accrual Period, in the absence of manifest error, will
be final and binding.
(c) Within five Business Days of the Trustee's calculation
of the Certificate Interest Rates of the LIBOR Certificates, the
Trustee shall furnish to the Company by telecopy (or by such
other means as the Trustee and the Company may agree from time to
time) such Certificate Interest Rates.
(d) The Trustee shall provide to Certificateholders who
inquire of it by telephone the Certificate Interest Rates of the
LIBOR Certificates for the current and immediately preceding
Interest Accrual Period.
(e) As used herein, "Reference Banks" shall mean no more
than four leading banks engaged in transactions in Eurodollar
deposits in the international Eurocurrency market (i) with an
established place of business in London, England, (ii) whose
quotations appear on the display designated "LIBO" on the Reuters
Monitor Money Rates Service (the "Reuters Screen LIBO Page") on
the applicable LIBOR Determination Date and (iii) which have been
designated as such by the Trustee and are able and willing to
provide such quotations to the Trustee on each LIBOR
Determination Date. The Reference Banks initially shall be:
Barclay's plc, Bank of Tokyo, National Westminster Bank and Trust
Company and Bankers Trust Company. If any of the initial
Reference Banks should be removed from the Reuters Screen LIBO
Page or in any other way fail to meet the qualifications of a
Reference Bank, or if such page is no longer published, the
Trustee, after consultation with the Company, shall use its best
efforts to designate alternate Reference Banks.
ARTICLE VI
THE COMPANY
Section 6.01. Liability of the Company. The Company shall
be liable in accordance herewith only to the extent of the
obligations specifically imposed upon and undertaken by the
Company herein.
Section 6.02. Merger or Consolidation of, or Assumption of
the Obligations of, the Company. Any corporation into which the
Company may be merged or consolidated, or any
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corporation resulting from any merger, conversion or
consolidation to which the Company shall be a party, or any
corporation succeeding to the business of the Company, or any
corporation, more than 50% of the voting stock of which is,
directly or indirectly, owned by General Electric Company, or any
limited partnership, the sole general partner of which is either
the Company or a corporation, more than 50% of the voting stock
of which is owned, directly or indirectly, by General Electric
Company, which executes an agreement of assumption to perform
every obligation of the Company hereunder, shall be the successor
of the Company hereunder, without the execution or filing of any
paper or any further act on the part of any of the parties
hereto, anything herein to the contrary notwithstanding.
Section 6.03. Assignment. The Company may assign its rights
and delegate its duties and obligations as servicer under this
Agreement; provided, that (i) the purchaser or transferee
accepting such assignment or delegation is qualified to service
mortgage loans for FNMA or FHLMC, is reasonably satisfactory to
the Trustee and executes and delivers to the Trustee an
agreement, in form and substance reasonably satisfactory to the
Trustee, which contains an assumption by such purchaser or
transferee of the due and punctual performance and observance of
each covenant and condition to be performed or observed by the
Company as servicer hereunder from and after the date of such
agreement and (ii) each Rating Agency's rating of any Classes of
Certificates in effect immediately prior to such assignment or
delegation would not be qualified, downgraded or withdrawn as a
result thereof. In the case of any such assignment or delegation,
the Company will be released from its obligations as servicer
hereunder except for liabilities and obligations as servicer
incurred prior to such assignment or delegation.
Section 6.04. Limitation on Liability of the Company and
Others. Neither the Company nor any of the directors or officers
or employees or agents of the Company shall be under any
liability to the Trust Fund or the Certificateholders for any
action taken or for refraining from the taking of any action by
the Company pursuant to this Agreement, or for errors in
judgment; provided, however, that this provision shall not
protect the Company or any such person against any liability
which would otherwise be imposed by reason of willful
misfeasance, bad faith or gross negligence in the performance of
duties of the Company or by reason of reckless disregard of
obligations and duties of the Company hereunder. The Company and
any director or officer or employee or agent of the Company may
rely in good faith on any document of any kind prima facie
properly executed and submitted by any Person respecting any
matters arising hereunder. The Company and any director or
officer or employee or agent of the Company shall be indemnified
by the Trust Fund and held harmless against any loss, liability
or expense incurred in connection with any legal action relating
to this Agreement or the Certificates, other than any loss,
liability or expense related to any specific Mortgage Loan or
Mortgage Loans (except as any such loss, liability or expense
shall be otherwise reimbursable pursuant to this Agreement) and
any loss, liability or expense incurred by reason of willful
misfeasance, bad faith or gross negligence in the performance of
duties hereunder or by reason of reckless disregard of
obligations and duties hereunder. The Company shall be under no
obligation to appear in, prosecute or defend any legal action
which is not incidental to its duties to service the Mortgage
Loans in accordance with this Agreement and which in its opinion
may involve it in any expense or liability; provided, however,
that the Company may in its sole discretion undertake any such
action which it may deem necessary or desirable in respect of
this Agreement, and the rights and duties of the parties hereto
and the interests of the Certificateholders hereunder. In such
event, the legal expenses and costs of such action and any
liability resulting therefrom shall be
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expenses, costs and liabilities of the Trust Fund and the Company
shall be entitled to be reimbursed therefor from amounts credited
to the Mortgage Loan Payment Record as provided by Section 3.04.
Section 6.05. The Company Not to Resign. Subject to the
provisions of Sections 6.02 and 6.03, the Company shall not
resign from the obligations and duties hereby imposed on it
except upon determination that the performance of its duties
hereunder is no longer permissible under applicable law. Any such
determination permitting the resignation of the Company shall be
evidenced by an Opinion of Counsel to such effect delivered to
the Trustee. No such resignation shall become effective until the
Trustee or a successor servicer shall have assumed the
responsibilities and obligations of the Company in accordance
with Section 7.02.
ARTICLE VII
DEFAULT
Section 7.01. Events of Default. If any one of the
following events ("Events of Default") shall occur and be
continuing:
(i) Any failure by the Company to make any payment to
the Trustee of funds pursuant to Section 3.02(d) out of
which distributions to Certificateholders of any Class are
required to be made under the terms of the Certificates and
this Agreement which failure continues unremedied for a
period of three Business Days after the date upon which
written notice of such failure shall have been given to the
Company by the Trustee or to the Company and the Trustee by
Holders of Certificates of each Class affected thereby
evidencing, as to each such Class, Percentage Interests
aggregating not less than 25%; or
(ii) Failure on the part of the Company duly to
observe or perform in any material respect any other
covenants or agreements of the Company set forth in the
Certificates or in this Agreement, which covenants and
agreements (A) materially affect the rights of
Certificateholders and (B) continue unremedied for a period
of 60 days after the date on which written notice of such
failure, requiring the same to be remedied, shall have been
given to the Company by the Trustee, or to the Company and
the Trustee by the Holders of Certificates of each Class
affected thereby evidencing, as to each such Class,
Percentage Interests aggregating not less than 25%; or
(iii) The entry of a decree or order by a court or
agency or supervisory authority having jurisdiction in the
premises for the appointment of a conservator, receiver or
liquidator in any insolvency, readjustment of debt,
marshalling of assets and liabilities or similar
proceedings of or relating to the Company, or for the
winding up or liquidation of the Company's affairs, and the
continuance of any such decree or order unstayed and in
effect for a period of 60 consecutive days; or
(iv) The consent by the Company to the appointment of
a conservator or receiver or liquidator in any insolvency,
readjustment of debt, marshalling of assets and liabilities
or similar proceedings of or relating to the Company or of
or relating to
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substantially all of its property; or the Company shall
admit in writing its inability to pay its debts generally
as they become due, file a petition to take advantage of
any applicable insolvency or reorganization statute, make
an assignment for the benefit of its creditors, or
voluntarily suspend payment of its obligations;
then, and in each and every such case, so long as an Event of
Default shall not have been remedied by the Company, either the
Trustee, or the Holders of Certificates of each Class affected
thereby evidencing, as to each such Class, Percentage Interests
aggregating not less than 51%, by notice then given in writing to
the Company (and to the Trustee if given by the
Certificateholders) may terminate all of the rights and
obligations of the Company as servicer under this Agreement. On
or after the receipt by the Company of such written notice, all
authority and power of the Company under this Agreement, whether
with respect to the Certificates or the Mortgage Loans or
otherwise, shall pass to and be vested in the Trustee pursuant to
and under this Section 7.01; and, without limitation, the Trustee
is hereby authorized and empowered to execute and deliver, on
behalf of the Company, as attorney-in-fact or otherwise, any and
all documents and other instruments, and to do or accomplish all
other acts or things necessary or appropriate to effect the
purposes of such notice of termination, whether to complete the
transfer and endorsement of the Mortgage Loans and related
documents, or otherwise, including, without limitation, the
recordation of the assignments of the Mortgage Loans to it. The
Company agrees to cooperate with the Trustee in effecting the
termination of the responsibilities and rights of the Company
hereunder, including, without limitation, the transfer to the
Trustee for the administration by it of all cash amounts that
shall at the time be held by the Company and that have been or
should have been credited by it to the Mortgage Loan Payment
Record, or that have been deposited by the Company in the
Certificate Account or are thereafter received by the Company
with respect to the Mortgage Loans. In addition to any other
amounts which are then, or, notwithstanding the termination of
its activities as servicer, may become, payable to the Company
under this Agreement, the Company shall be entitled to receive
out of any delinquent payment on account of interest on a
Mortgage Loan, due during the period prior to the notice pursuant
to this Section 7.01 which terminates the obligation and rights
of the Company hereunder and received after such notice, that
portion of such payment which it would have been entitled to
retain pursuant to Section 3.04(vi) if such notice had not been
given.
Section 7.02. Trustee to Act; Appointment of Successor. (a)
On and after the time the Company receives a notice of
termination pursuant to Section 7.01, the Trustee shall be the
successor in all respects to the Company in its capacity as
servicer under this Agreement and the transactions set forth or
provided for herein and shall succeed to all the rights of and be
subject to all the responsibilities, duties and liabilities
relating thereto placed on the Company in its capacity as
servicer by the terms and provisions hereof; provided, however,
that the responsibilities and duties of the Company pursuant to
Sections 2.02 and 2.03(a) and, if the Trustee is prohibited by
law or regulation from making Monthly Advances, the
responsibility to make Monthly Advances pursuant to Section 4.04,
shall not be the responsibilities, duties or obligations of the
Trustee; and provided further, that any failure of the Trustee to
perform such duties and responsibilities that is caused by the
Company's failure to cooperate with the Trustee as required by
Section 7.01 shall not be considered a default by the Trustee
hereunder. As compensation therefor, the Trustee shall, except as
provided in Section 7.01, be entitled to such compensation as the
Company would have been entitled to hereunder if no such notice
of termination had been given. Notwithstanding the above, the
Trustee may, if it shall be unwilling
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so to act, or shall, if it is legally unable so to act, appoint,
or petition a court of competent jurisdiction to appoint, any
established housing and home finance institution approved to
service mortgage loans for either FNMA or FHLMC, having a net
worth of not less than $10,000,000, as the successor to the
Company hereunder in the assumption of all or any part of the
responsibilities, duties or liabilities of the Company hereunder.
Pending appointment of a successor to the Company pursuant to
this Article VII, unless the Trustee is prohibited by law from so
acting, the Trustee shall act in such capacity as hereinabove
provided. In connection with such appointment and assumption, the
Trustee may make such arrangements for the compensation of such
successor out of payments on Mortgage Loans as it and such
successor shall agree; provided, however, that no such
compensation shall be in excess of that permitted the Company
hereunder. The Trustee and such successor shall take such action,
consistent with this Agreement, as shall be necessary to
effectuate any such succession.
(b) Any successor, including the Trustee, to the Company as
servicer pursuant to this Article VII shall during the term of
its service as servicer maintain in force (i) a policy or
policies of insurance covering errors and omissions in the
performance of its obligations as servicer hereunder, and (ii) a
fidelity bond in respect of its officers, employees and agents to
the same extent as the Company is so required pursuant to Section
3.15.
Section 7.03. Notification to Certificateholders. Upon any
termination or appointment of a successor to the Company pursuant
to this Article VII, the Trustee shall give prompt written notice
thereof to Certificateholders at their respective addresses
appearing in the Certificate Register.
ARTICLE VIII
THE TRUSTEE
Section 8.01. Duties of Trustee. The Trustee, prior to the
occurrence of an Event of Default and after the curing of all
Events of Default which may have occurred, undertakes to perform
such duties and only such duties as are specifically set forth in
this Agreement. If an Event of Default has occurred (which has
not been cured), the Trustee shall exercise such of the rights
and powers vested in it by this Agreement, and use the same
degree of care and skill in their exercise, as a prudent person
would exercise or use under the circumstances in the conduct of
his or her own affairs.
The Trustee, upon receipt of all resolutions,
certificates, statements, opinions, reports, documents, orders or
other instruments furnished to the Trustee which are specifically
required to be furnished pursuant to any provision of this
Agreement, shall examine them to determine whether they conform
to the requirements of this Agreement.
No provision of this Agreement shall be construed to
relieve the Trustee from liability for its own negligent action,
its own negligent failure to act or its own misconduct; provided,
however, that:
(i) Prior to the occurrence of an Event of Default,
and after the curing of all such Events of Default which
may have occurred, the duties and obligations of the
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Trustee shall be determined solely by the express
provisions of this Agreement, the Trustee shall not be
liable except for the performance of such duties and
obligations as are specifically set forth in this
Agreement, no implied covenants or obligations shall be
read into this Agreement against the Trustee and, in the
absence of bad faith on the part of the Trustee, the
Trustee may conclusively rely, as to the truth of the
statements and the correctness of the opinions expressed
therein, upon any certificates or opinions furnished to the
Trustee and conforming to the requirements of this
Agreement;
(ii) The Trustee shall not be personally liable for an
error of judgment made in good faith by a Responsible
Officer of the Trustee, unless it shall be proved that the
Trustee was negligent in performing its duties in
accordance with the terms of this Agreement;
(iii) The Trustee shall not be personally liable with
respect to any action taken, suffered or omitted to be
taken by it in good faith in accordance with the direction
of the Holders of Certificates of each Class affected
thereby evidencing, as to each such Class, Percentage
Interests aggregating not less than 25%, relating to the
time, method and place of conducting any proceeding for any
remedy available to the Trustee, or exercising any trust or
power conferred upon the Trustee, under this Agreement; and
(iv) The Trustee shall not be charged with knowledge
of (A) any failure by the Company to comply with the
obligations of the Company referred to in clauses (i) and
(ii) of Section 7.01, (B) the rating downgrade referred to
in the definition of "Trigger Event" or (C) any failure by
the Company to comply with the obligations of the Company
to record the assignments of Mortgages referred to in
Section 2.01 unless a Responsible Officer of the Trustee at
the Corporate Trust Office obtains actual knowledge of such
failures, occurrence or downgrade or the Trustee receives
written notice of such failures, occurrence or downgrade
from the Company or the Holders of Certificates of each
Class affected thereby evidencing, as to each such Class,
Percentage Interests aggregating not less than 25%.
Subject to any obligation of the Trustee to make
Monthly Advances as provided herein, the Trustee shall not be
required to expend or risk its own funds or otherwise incur
financial liability in the performance of any of its duties
hereunder, or in the exercise of any of its rights or powers, if
there is reasonable ground for believing that the repayment of
such funds or adequate indemnity against such risk or liability
is not reasonably assured to it, and none of the provisions
contained in this Agreement shall in any event require the
Trustee to perform, or be responsible for the manner of
performance of, any of the obligations of the Company under this
Agreement, except during such time, if any, as the Trustee shall
be the successor to, and be vested with the rights, duties,
powers and privileges of, the Company in accordance with the
terms of this Agreement.
Section 8.02. Certain Matters Affecting the Trustee. Except
as otherwise provided in Section 8.01:
(i) The Trustee may conclusively rely and shall be
protected in acting or refraining from acting upon any
resolution, Officer's Certificate, certificate of auditors
or
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any other certificate, statement, instrument, opinion,
report, notice, request, consent, order, appraisal, bond or
other paper or document believed by it to be genuine and to
have been signed or presented by the proper party or
parties;
(ii) The Trustee may consult with counsel and any
Opinion of Counsel shall be full and complete authorization
and protection in respect of any action taken or suffered
or omitted by it hereunder in good faith and in accordance
with such Opinion of Counsel;
(iii) The Trustee shall be under no obligation to
exercise any of the rights or powers vested in it by this
Agreement, or to institute, conduct or defend any
litigation hereunder or in relation hereto, at the request,
order or direction of any of the Certificateholders,
pursuant to the provisions of this Agreement, unless such
Certificateholders shall have offered to the Trustee
reasonable security or indemnity against the costs,
expenses and liabilities which may be incurred therein or
thereby; nothing contained herein shall, however, relieve
the Trustee of the obligations, upon the occurrence of an
Event of Default (which has not been cured), to exercise
such of the rights and powers vested in it by this
Agreement, and to use the same degree of care and skill in
their exercise as a prudent person would exercise or use
under the circumstances in the conduct of his or her own
affairs;
(iv) The Trustee shall not be personally liable for
any action taken, suffered or omitted by it in good faith
and believed by it to be authorized or within the
discretion or rights or powers conferred upon it by this
Agreement;
(v) Prior to the occurrence of an Event of Default and
after the curing of all Events of Default which may have
occurred, the Trustee shall not be bound to make any
investigation into the facts or matters stated in any
resolution, certificate, statement, instrument, opinion,
report, notice, request, consent, order, approval, bond or
other paper or documents, unless requested in writing so to
do by Holders of Certificates of each Class affected
thereby evidencing, as to each such Class, Percentage
Interests aggregating not less than 25%; provided, however,
that if the payment within a reasonable time to the Trustee
of the costs, expenses or liabilities likely to be incurred
by it in the making of such investigation is, in the
opinion of the Trustee, not reasonably assured to the
Trustee by the security afforded to it by the terms of this
Agreement, the Trustee may require reasonable indemnity
against such cost, expense or liability as a condition to
such proceeding. The reasonable expense of every such
investigation shall be paid by the Company or, if paid by
the Trustee, shall be reimbursed by the Company upon
demand. Nothing in this clause (v) shall derogate from the
obligation of the Company to observe any applicable law
prohibiting disclosure of information regarding the
Mortgagors; and
(vi) The Trustee may execute any of the trusts or
powers hereunder or perform any duties hereunder either
directly or by or through agents or attorneys or a
custodian.
Section 8.03. Trustee Not Liable for Certificates or
Mortgage Loans. The recitals contained herein and in the
Certificates (other than the signature and countersignature of
the Trustee on the Certificates) shall be taken as the statements
of the Company, and the Trustee
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assumes no responsibility for the correctness of the same. The
Trustee makes no representations as to the validity or
sufficiency of this Agreement or of the Certificates (other than
the signature and countersignature of the Trustee on the
Certificates) or of any Mortgage Loan or related document. The
Trustee shall not be accountable for the use or application by
the Company of any of the Certificates or of the proceeds of such
Certificates, or for the use or application of any funds paid to
the Company in respect of the Mortgage Loans or deposited in or
withdrawn from the Certificate Account by the Company.
Section 8.04. Trustee May Own Certificates. The Trustee in
its individual or any other capacity may become the owner or
pledgee of Certificates with the same rights as it would have if
it were not Trustee.
Section 8.05. The Company to Pay Trustee's Fees and
Expenses. The Company covenants and agrees to pay to the Trustee
from time to time, and the Trustee shall be entitled to,
reasonable compensation (which shall not be limited by any
provision of law in regard to the compensation of a trustee of an
express trust) for all services rendered by it in the execution
of the trusts hereby created and in the exercise and performance
of any of the powers and duties hereunder of the Trustee, and the
Company will pay or reimburse the Trustee upon its request for
all reasonable expenses, disbursements and advances (including
any Monthly Advances of the Trustee not previously reimbursed
thereto pursuant to Section 3.04) incurred or made by the Trustee
in accordance with any of the provisions of this Agreement
(including the reasonable compensation and the expenses and
disbursements of its counsel and of all persons not regularly in
its employ) except any such expense, disbursement or advance as
may arise from its negligence or bad faith or which is the
responsibility of Certificateholders hereunder. In addition, the
Company covenants and agrees to indemnify the Trustee from, and
hold it harmless against, any and all losses, liabilities,
damages, claims or expenses other than those resulting from the
negligence or bad faith of the Trustee. From time to time, the
Trustee may request that the Company debit the Mortgage Loan
Payment Record pursuant to Section 3.04 to reimburse the Trustee
for any Monthly Advances and Nonrecoverable Advances.
Section 8.06. Eligibility Requirements for Trustee. The
Trustee hereunder shall at all times be a corporation having its
principal office either in the State of New York or in the same
state as that in which the initial Trustee under this Agreement
has its principal office and organized and doing business under
the laws of such State or the United States of America,
authorized under such laws to exercise corporate trust powers,
having a combined capital and surplus of at least $50,000,000 and
subject to supervision or examination by federal or state
authority. If such corporation publishes reports of condition at
least annually, pursuant to law or to the requirements of the
aforesaid supervising or examining authority, then for the
purposes of this Section 8.06, the combined capital and surplus
of such corporation shall be deemed to be its combined capital
and surplus as set forth in its most recent report of condition
so published. The Trustee shall not be an affiliate of the
Company. In case at any time the Trustee shall cease to be
eligible in accordance with the provisions of this Section 8.06,
the Trustee shall resign immediately in the manner and with the
effect specified in Section 8.07.
Section 8.07. Resignation or Removal of Trustee. The
Trustee may at any time resign and be discharged from the trusts
hereby created by giving written notice thereof to the Company.
Upon receiving such notice of resignation, the Company shall
promptly appoint a
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successor Trustee by written instrument, in duplicate, one copy
of which instrument shall be delivered to the resigning Trustee
and one copy to the successor Trustee. If no successor Trustee
shall have been so appointed and having accepted appointment
within 30 days after the giving of such notice of resignation,
the resigning Trustee may petition any court of competent
jurisdiction for the appointment of a successor Trustee.
If the conditions in any of the following clauses (i),
(ii) or (iii) shall occur at any time, the Company may remove the
Trustee: (i) the Trustee shall cease to be eligible in accordance
with the provisions of Section 8.06 and shall fail to resign
after written request therefor by the Company; (ii) the Trustee
shall be legally unable to act, or shall be adjudged a bankrupt
or insolvent, or a receiver of the Trustee or of its property
shall be appointed, or any public officer shall take charge or
control of the Trustee or of its property or affairs for the
purpose of rehabilitation, conservation or liquidation; or (iii)
the replacement of the Trustee with a successor Trustee will
enable the Company to avoid (and should, based on the information
included in the notice referred to below, result in the avoidance
of) a downgrading of the ratings assigned to the Certificates by
the Rating Agencies (whether or not other actions could avoid
such downgrading) and no Event of Default, as provided by Section
7.01 hereof, shall have occurred or be continuing; provided,
however, that no action shall be taken pursuant to this clause
(iii) unless reasonable notice shall have been provided to the
Trustee, which notice shall set forth the basis for any rating
downgrade as contemplated by the Rating Agencies and shall also
indicate the manner in which such proposed action is intended to
avoid such downgrade. If it removes the Trustee under the
authority of the immediately preceding sentence, the Company
shall promptly appoint a successor trustee by written instrument,
in duplicate, one copy of which instrument shall be delivered to
the Trustee so removed and one copy to the successor trustee.
Any resignation or removal of the Trustee and
appointment of a successor Trustee pursuant to any of the
provisions of this Section 8.07 shall not become effective until
acceptance of appointment by the successor Trustee as provided in
Section 8.08.
Section 8.08. Successor Trustee. Any successor Trustee
appointed as provided in Section 8.07 shall execute, acknowledge
and deliver to the Company and to its predecessor Trustee an
instrument accepting such appointment hereunder, and thereupon
the resignation or removal of the predecessor Trustee shall
become effective and such successor Trustee, without any further
act, deed or conveyance, shall become fully vested with all the
rights, powers, duties and obligations of its predecessor
hereunder, with like effect as if originally named as Trustee.
The predecessor Trustee shall deliver to the successor Trustee
all Mortgage Files and related documents and statements held by
it hereunder; and the Company and the predecessor Trustee shall
execute and deliver such instruments and do such other things as
may reasonably be required for fully and certainly vesting and
confirming in the successor Trustee all such rights, powers,
duties and obligations.
No successor Trustee shall accept appointment as
provided in this Section 8.08 unless at the time of such
acceptance such successor Trustee shall be eligible under the
provisions of Section 8.06.
Upon acceptance of appointment by a successor Trustee
as provided in this Section 8.08, the Company shall mail notice
of the succession of such Trustee hereunder to all
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holders of Certificates at their addresses as shown in the
Certificate Register. If the Company fails to mail such notice
within 10 days after acceptance of appointment by the successor
Trustee, the successor Trustee shall cause such notice to be
mailed at the expense of the Company.
Section 8.09. Merger or Consolidation of Trustee. Any
corporation into which the Trustee may be merged or converted or
with which it may be consolidated, or any corporation resulting
from any merger, conversion or consolidation to which the Trustee
shall be a party, or any corporation succeeding to the corporate
trust business of the Trustee, shall be the successor of the
Trustee hereunder, provided that such corporation shall be
eligible under the provisions of Section 8.06, without the
execution or filing of any paper or any further act on the part
of any of the parties hereto, anything herein to the contrary
notwithstanding.
Section 8.10. Appointment of Co-Trustee or Separate
Trustee. Notwithstanding any other provisions of this Agreement,
at any time, for the purpose of meeting any legal requirements of
any jurisdiction in which any part of the Trust Fund or property
securing any Mortgage Note may at the time be located, the
Company and the Trustee acting jointly shall have the power and
shall execute and deliver all instruments to appoint one or more
Persons approved by the Trustee to act as co-trustee or
co-trustees, jointly with the Trustee, of all or any part of the
Trust Fund, or separate trustee or separate trustees of any part
of the Trust Fund, and to vest in such Person or Persons, in such
capacity and for the benefit of the Certificateholders, such
title to the Trust Fund, or any part thereof, and, subject to the
other provisions of this Section 8.10, such powers, duties,
obligations, rights and trusts as the Company and the Trustee may
consider necessary or desirable. If the Company shall not have
joined in such appointment within 15 days after the receipt by it
of a request so to do, or in case an Event of Default shall have
occurred and be continuing, the Trustee alone shall have the
power to make such appointment. No co-trustee or separate trustee
hereunder shall be required to meet the terms of eligibility as a
successor trustee under Section 8.06 and no notice to
Certificateholders of the appointment of any co-trustee or
separate trustee shall be required under Section 8.08.
Every separate trustee and co-trustee shall, to the
extent permitted by law, be appointed and act subject to the
following provisions and conditions:
(i) All rights, powers, duties and obligations
conferred or imposed upon the Trustee shall be conferred or
imposed upon and exercised or performed by the Trustee and
such separate trustee or co-trustee jointly (it being
understood that such separate trustee or co-trustee is not
authorized to act separately without the Trustee joining in
such act), except to the extent that under any law of any
jurisdiction in which any particular act or acts are to be
performed (whether as Trustee hereunder or as successor to
the Company hereunder), the Trustee shall be incompetent or
unqualified to perform such act or acts, in which event
such rights, powers, duties and obligations (including the
holding of title to the Trust Fund or any portion thereof
in any such jurisdiction) shall be exercised and performed
singly by such separate trustee or co-trustee, but solely
at the direction of the Trustee;
(ii) No trustee hereunder shall be held personally
liable by reason of any act or omission of any other
trustee hereunder; and
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(iii) The Company and the Trustee acting jointly may
at any time accept the resignation of or remove any
separate trustee or co-trustee.
Any notice, request or other writing given to the
Trustee shall be deemed to have been given to each of the then
separate trustees and co-trustees, as effectively as if given to
each of them. Every instrument appointing any separate trustee or
co-trustee shall refer to this Agreement and the conditions of
this Article VIII. Each separate trustee and co-trustee, upon its
acceptance of the trusts conferred, shall be vested with the
estates or property specified in its instrument of appointment,
either jointly with the Trustee or separately, as may be provided
therein, subject to all the provisions of this Agreement,
specifically including every provision of this Agreement relating
to the conduct of, affecting the liability of, or affording
protection to, the Trustee. Every such instrument shall be filed
with the Trustee and a copy thereof given to the Company.
Any separate trustee or co-trustee may, at any time,
constitute the Trustee, its agent or attorney-in-fact, with full
power and authority, to the extent not prohibited by law, to do
any lawful act under or in respect of this Agreement on its
behalf and in its name. If any separate trustee or co-trustee
shall die, become incapable of acting, resign or be removed, all
of its estates, properties, rights, remedies and trusts shall
vest in and be exercised by the Trustee, to the extent permitted
by law, without the appointment of a new or successor trustee.
Section 8.11. Compliance with REMIC Provisions; Tax
Returns. The Trustee shall at all times act in such a manner in
the performance of its duties hereunder as shall be necessary to
prevent the REMIC from failing to qualify as a REMIC and to
prevent the imposition of a tax on the Trust Fund or the REMIC
established hereunder. The Trustee, upon request, will furnish
the Company with all such information within its possession as
may be reasonably required in connection with the preparation of
all tax returns of the Trust Fund and any Reserve Fund, and
shall, upon request, execute such returns.
ARTICLE IX
TERMINATION
Section 9.01. Termination upon Repurchase by the Company or
Liquidation of All Mortgage Loans. Subject to Section 9.02, the
respective obligations and responsibilities of the Company and
the Trustee created hereby (other than the obligation of the
Trustee to make certain payments to Certificateholders after the
final Distribution Date and the obligation of the Trustee to send
certain notices as hereinafter set forth) shall terminate upon
the last action required to be taken by the Trustee on the final
Distribution Date pursuant to this Article IX following the
earlier of (a) the repurchase by the Company of all Mortgage
Loans and all REO Mortgage Loans remaining in the Trust Fund at a
price equal to the sum of (x) 100% of the unpaid principal
balance of each Mortgage Loan (other than any REO Mortgage Loans
described in the following clause) plus accrued and unpaid
interest thereon at the applicable Remittance Rate (less any
amounts constituting previously unreimbursed Monthly Advances) to
the first day of the month in which such purchase price is to be
distributed to Certificateholders and (y) the appraised value of
any REO Mortgage Loan (less the good faith estimate of the
Company of Liquidation Expenses to be incurred in connection with
its disposal thereof), such appraisal to be
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conducted by an appraiser mutually agreed upon by the Company and
the Trustee, and (b) the later of the final payment or other
liquidation (or any Monthly Advance with respect thereto) of the
last Mortgage Loan remaining in the Trust Fund or the disposition
of all property acquired upon foreclosure or by deed in lieu of
foreclosure of any Mortgage Loan; provided, however, that in no
event shall the Trust Fund created hereby continue beyond the
expiration of 21 years from the death of the last survivor of the
descendants of Joseph P. Kennedy, the late ambassador of the
United States of America to the Court of St. James's, living on
the date of this Agreement. The right of the Company to
repurchase all Mortgage Loans pursuant to clause (a) above shall
be conditioned upon the aggregate of the Scheduled Principal
Balance of the Outstanding Mortgage Loans, at the time of any
such repurchase, aggregating less than 10 percent of the
aggregate of the Scheduled Principal Balance of the Mortgage
Loans as of the Cut-off Date.
Notice of any termination, specifying the Distribution
Date upon which the Certificateholders may surrender their
Certificates to the Trustee for payment of the final distribution
and cancellation, shall be given promptly by the Trustee by
letter to Certificateholders mailed not earlier than the 15th day
and not later than the 25th day of the month next preceding the
month of such final distribution specifying (A) the Distribution
Date upon which final payment of the Certificates will be made
upon presentation and surrender of the Certificates at the office
of the Trustee therein designated, (B) the amount of any such
final payment and (C) that the Record Date otherwise applicable
to such Distribution Date is not applicable, payments being made
only upon presentation and surrender of the Certificates at the
office of the Trustee therein specified. The Trustee shall give
such notice to the Certificate Registrar at the time such notice
is given to Certificateholders. In the event such notice is given
in connection with the exercise by the Company of its right of
repurchase, the Company shall deposit in the Certificate Account
not later than 11:00 a.m. on the Business Day prior to the final
Distribution Date in next-day funds an amount equal to the price
described above. Upon presentation and surrender of the
Certificates, the Trustee shall cause to be distributed to
Certificateholders an amount equal to the price calculated as
above provided, any such repurchase being in lieu of the
distribution otherwise required to be made on the Distribution
Date upon which the repurchase is effected. Upon certification to
the Trustee by a Servicing Officer following such final deposit,
the Trustee shall promptly release to the Company the Mortgage
Files for the repurchased Mortgage Loans.
On the final Distribution Date, the Trustee shall
distribute amounts on deposit in the Certificate Account in
accordance with the applicable priorities provided by Section
4.01. Distributions on each Certificate shall be made on the
final Distribution Date in the manner specified in Section 4.02
but only upon presentation and surrender of the Certificates.
In the event that all of the Certificateholders shall
not surrender their Certificates for cancellation within six
months after the date specified in the above-mentioned written
notice, the Trustee shall give a second written notice to the
remaining Certificateholders to surrender their Certificates for
cancellation and receive the final distribution with respect
thereto. If within one year after the second notice all the
Certificates shall not have been surrendered for cancellation,
the Trustee may take appropriate steps, or may appoint an agent
to take appropriate steps, to contact the remaining
Certificateholders concerning surrender of their Certificates,
and the cost thereof shall be paid out of the funds and other
assets which remain subject hereto.
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Section 9.02. Additional Termination Requirements. (a) In
the event the Company exercises its purchase option as provided
in Section 9.01, the Trust Fund and the REMIC established
hereunder shall be terminated in accordance with the following
additional requirements, unless the Trustee has been supplied
with an Opinion of Counsel to the effect that the failure to
comply with the requirements of this Section 9.02 will not (i)
result in the imposition of taxes on "prohibited transactions" of
such REMIC as defined in section 860F of the Code, or (ii) cause
the Trust Fund to fail to qualify as a REMIC at any time that any
Certificates are outstanding:
(i) Within 90 days prior to the final Distribution
Date set forth in the notice given by the Trustee under
Section 9.01, the Company shall prepare and the Trustee
shall execute and adopt a plan of complete liquidation for
such REMIC within the meaning of section 860F(a)(4)(A)(i)
of the Code, which shall be evidenced by such notice; and
(ii) Within 90 days after the time of adoption of such
a plan of complete liquidation, the Trustee shall sell all
of the assets of the Trust Fund to the Company for cash in
accordance with Section 9.01.
(b) By their acceptance of the Residual Certificates, the
Holders thereof hereby authorize the Trustee to adopt such a plan
of complete liquidation which authorization shall be binding on
all successor Holders of the Residual Certificates.
(c) On the final federal income tax return for the REMIC
established hereunder, the Trustee will attach a statement
specifying the date of the adoption of the plan of liquidation.
ARTICLE X
MISCELLANEOUS PROVISIONS
Section 10.01. Amendment. This Agreement may be amended
from time to time by the Company and the Trustee, without the
consent of any of the Certificateholders, to cure any ambiguity,
to correct or supplement any provisions herein or therein which
may be defective or inconsistent with any other provisions
herein, or to surrender any right or power herein conferred upon
the Company, or to add any other provisions with respect to
matters or questions arising under this Agreement, which shall
not be materially inconsistent with the provisions of this
Agreement; provided, however, that such action shall not, as
evidenced by an Opinion of Counsel, adversely affect in any
material respect the interests of any Certificateholder.
Notwithstanding the foregoing, without the consent of the
Certificateholders, the Trustee and the Company may at any time
and from time to time amend this Agreement to modify, eliminate
or add to any of its provisions to such extent as shall be
necessary or appropriate to maintain the qualification of the
Trust Fund as a REMIC under the Code or to avoid or minimize the
risk of the imposition of any tax on the Trust Fund pursuant to
the Code that would be a claim against the Trust Fund at any time
prior to the final redemption of the Certificates, provided that
the Trustee has obtained an opinion of independent counsel (which
opinion also shall be addressed
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to the Company) to the effect that such action is necessary or
appropriate to maintain such qualification or to avoid or
minimize the risk of the imposition of such a tax.
This Agreement may also be amended from time to time
by the Company and the Trustee with the consent of Holders of
Certificates evidencing (i) not less than 66% of the Voting
Rights of all the Certificates or (ii) Percentage Interests
aggregating not less than 66% of each Class affected by such
amendment, for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of
this Agreement, or of modifying in any manner the rights of the
Holders of Certificates; provided, however, that no such
amendment shall (a) reduce in any manner the amount of, or delay
the timing of, collections of payments on the Mortgage Loans or
distributions which are required to be made on any Certificate
without the consent of the Holder of such Certificate, (b)
adversely affect in any material respects the interests of the
Holders of any Class of Certificates in any manner other than as
described in (a), without the consent of the Holders of
Certificates evidencing Percentage Interests aggregating not less
than 66% of such Class, or (c) reduce the aforesaid percentages
of Certificates of any Class required to consent to any such
amendment, without the consent of the Holders of all Certificates
of such Class then outstanding. For purposes of this paragraph,
references to "Holder" or "Holders" shall be deemed to include,
in the case of any Class of Book-Entry Certificates, the related
Certificate Owners.
Notwithstanding any contrary provision of this
Agreement, the Trustee shall not consent to any amendment to this
Agreement unless it shall have first received an Opinion of
Counsel to the effect that such amendment will not subject the
Trust Fund to tax or cause the Trust Fund to fail to qualify as a
REMIC at any time that any Certificates are outstanding.
Promptly after the execution of any such amendment or
consent the Trustee shall furnish written notification of the
substance of such amendment to each Certificateholder.
It shall not be necessary for the consent of
Certificateholders under this Section 10.01 to approve the
particular form of any proposed amendment, but it shall be
sufficient if such consent shall approve the substance thereof.
The manner of obtaining such consents and of evidencing the
authorization of the execution thereof by Certificateholders
shall be subject to such reasonable requirements as the Trustee
may prescribe.
Section 10.02. Recordation of Agreement. This Agreement is
subject to recordation in all appropriate public offices for real
property records in all the counties or other comparable
jurisdictions in which any or all of the properties subject to
the Mortgages are situated, and in any other appropriate public
recording office or elsewhere, such recordation to be effected by
the Company and at its expense on direction by the Trustee, but
only upon direction of the Trustee accompanied by an Opinion of
Counsel to the effect that such recordation materially and
beneficially affects the interests of Certificateholders.
For the purpose of facilitating the recordation of
this Agreement as herein provided and for other purposes, this
Agreement may be executed simultaneously in any number of
counterparts, each of which counterparts shall be deemed to be an
original, and such counterparts shall constitute but one and the
same instrument.
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Section 10.03. Limitation on Rights of Certificateholders.
The death or incapacity of any Certificateholder shall not
operate to terminate this Agreement or the Trust Fund, nor
entitle such Certificateholder's legal representatives or heirs
to claim an accounting or to take any action or commence any
proceeding in any court for a partition or winding up of the
Trust Fund, nor otherwise affect the rights, obligations and
liabilities of the parties hereto or any of them.
No Certificateholder shall have any right to vote
(except as provided in Section 10.01) or in any manner otherwise
control the operation and management of the Trust Fund, or the
obligations of the parties hereto, nor shall anything herein set
forth, or contained in the terms of the Certificates, be
construed so as to constitute the Certificateholders from time to
time as partners or members of an association; nor shall any
Certificateholder be under any liability to any third person by
reason of any action taken by the parties to this Agreement
pursuant to any provision hereof.
No Certificateholder shall have any right by virtue or
by availing itself of any provisions of this Agreement to
institute any suit, action or proceeding in equity or at law upon
or under or with respect to this Agreement, unless such Holder
previously shall have given to the Trustee a written notice of
default and of the continuance thereof, as hereinbefore provided,
and unless also the Holders of Certificates of each Class
affected thereby evidencing, as to each such Class, Percentage
Interests aggregating not less than 25% shall have made written
request upon the Trustee to institute such action, suit or
proceeding in its own name as Trustee hereunder and shall have
offered to the Trustee such reasonable indemnity as it may
require against the costs, expenses and liabilities to be
incurred therein or thereby, and the Trustee, for 60 days after
its receipt of such notice, request and offer of indemnity, shall
have neglected or refused to institute any such action, suit or
proceeding; it being understood and intended, and being expressly
covenanted by each Certificateholder with every other
Certificateholder and the Trustee, that no one or more Holders of
Certificates shall have any right in any manner whatever by
virtue or by availing itself or themselves of any provisions of
this Agreement to affect, disturb or prejudice the rights of the
Holders of any other of the Certificates, or to obtain or seek to
obtain priority over or preference to any other such Holder, or
to enforce any right under this Agreement, except in the manner
herein provided and for the equal, ratable and common benefit of
all Certificateholders. For the protection and enforcement of the
provisions of this Section 10.03, each and every
Certificateholder and the Trustee shall be entitled to such
relief as can be given either at law or in equity.
Section 10.04. Governing Law. THIS AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK
AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER
SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.
Section 10.05. Notices. All demands, notices and
communications hereunder shall be in writing and shall be deemed
to have been duly given if personally delivered at or mailed by
certified mail, return receipt requested, (a) in the case of the
Company, to GE Capital Mortgage Services, Inc., 3 Executive
Campus, Cherry Hill, New Jersey 08002, Attention: General
Counsel, (b) in the case of the Trustee, to State Street Bank and
Trust Company, Corporate Trust Department, 225 Franklin Street,
Boston, Massachusetts 02110, (c) in the case of Fitch, to Fitch
IBCA, Inc., One State Street Plaza, New York, New York 10004,
Attention: Structured Finance
94
<PAGE>
Surveillance, and (d) in the case of S&P, Standard and Poor's
Ratings Services, 26 Broadway, 10th Floor, New York, New York
10004, Attention: Residential Mortgage Surveillance, or, as to
each such Person, at such other address as shall be designated by
such Person in a written notice to each other named Person. Any
notice required or permitted to be mailed to a Certificateholder
shall be given by first class mail, postage prepaid, at the
address of such Holder as shown in the Certificate Register. Any
notice so mailed within the time prescribed in this Agreement
shall be conclusively presumed to have been duly given, whether
or not the Certificateholder receives such notice.
Section 10.06. Notices to the Rating Agencies. The Company
shall deliver written notice of the following events to each
Rating Agency promptly following the occurrence thereof: material
amendment to this Agreement; any Event of Default; any Trigger
Event; change in or termination of the Trustee; removal of the
Company or any successor servicer as servicer; repurchase or
replacement of any Defective Mortgage Loan pursuant to Section
2.03; and final payment to Certificateholders. In addition, the
Company shall deliver copies of the following documents to each
Rating Agency at the time such documents are required to be
delivered pursuant to this Agreement: monthly statements to
Certificateholders pursuant to Section 4.05, annual report of
independent accountants pursuant to Section 3.13 and annual
servicer compliance report pursuant to Section 3.12.
Notwithstanding the foregoing, the failure to deliver such
notices or copies shall not constitute an Event of Default under
this Agreement.
Section 10.07. Severability of Provisions. If any one or
more of the covenants, agreements, provisions or terms of this
Agreement shall be for any reason whatsoever held invalid, then
to the extent permitted by law such covenants, agreements,
provisions or terms shall be deemed severable from the remaining
covenants, agreements, provisions or terms of this Agreement and
shall in no way affect the validity or enforceability of the
other provisions of this Agreement or of the Certificates or the
rights of the Holders thereof.
Section 10.08. Certificates Nonassessable and Fully Paid.
It is the intention of the Trustee that Certificateholders shall
not be personally liable for obligations of the Trust Fund, that
the beneficial ownership interests represented by the
Certificates shall be nonassessable for any losses or expenses of
the Trust Fund or for any reason whatsoever, and that
Certificates upon execution, countersignature and delivery
thereof by the Trustee are and shall be deemed fully paid.
* * *
95
<PAGE>
IN WITNESS WHEREOF, the Company and the Trustee have
caused this Agreement to be duly executed by their respective
officers and their respective seals, duly attested, to be
hereunto affixed, all as of the day and year first above written.
GE CAPITAL MORTGAGE SERVICES, INC.
By:_______________________________
Name:
Title:
[SEAL]
Attest:
By:__________________________
Name:
Title:
STATE STREET BANK AND
TRUST COMPANY,
as Trustee
By:_______________________________
Name:
Title:
[SEAL]
Attest:
By:__________________________
Name:
Title:
<PAGE>
State of New Jersey )
) ss.:
County of Camden )
On the day of September, 1998 before me, a notary
public in and for the State of New Jersey, personally appeared
_______________________, known to me who, being by me duly sworn,
did depose and say that he/she resides at ___________________
_________________________________________________________; that
he/she is a(n) _________________________ of GE Capital Mortgage
Services, Inc., a corporation formed under the laws of the State
of New Jersey, one of the parties that executed the foregoing
instrument; that he/she knows the seal of said corporation; that
the seal affixed to said instrument is such corporate seal; that
it was so affixed by order of the Board of Directors of said
corporation; and that he/she signed his/her name thereto by like
order.
_____________________________
Notary Public
[Notarial Seal]
<PAGE>
The Commonwealth of Massachusetts )
) ss.:
County of Suffolk )
On the day of September, 1998 before me, a notary
public in and for the Commonwealth of Massachusetts, personally
appeared ____________________, known to me who, being by me duly
sworn, did depose and say that he/she resides at ________________
_____________________________________________________________;
that he/she is a(n) __________________________________ of State
Street Bank and Trust Company, one of the parties that executed
the foregoing instrument; that he/she knows the seal of said
Bank; that the seal affixed to said instrument is such corporate
seal; that it was so affixed by order of the Board of Directors
of said Bank; and that he/she signed his/her name thereto by
order of the Board of Directors of said Bank.
_____________________________
Notary Public
[Notarial Seal]
<PAGE>
EXHIBIT A
FORMS OF CERTIFICATES
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-15
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A-1 Certificate
Principal Balance:
Class A-1 $261,327,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RRP2
October 26, 1998
2
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A-1 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
3
<PAGE>
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-15, issued in nineteen Classes (Class
A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class
A-7, Class A-8, Class A-9, Class A-10, Class A-11, Class R, Class
PO, Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
The Certificates are limited in right of payment to
certain payments on and collections in respect of the Mortgage
Loans, all as more specifically set forth in the Agreement. The
Certificateholder, by its acceptance of this Certificate, agrees
that it will look solely to the funds on deposit in the
Certificate Account for payment hereunder and that the Trustee in
its individual capacity is not personally liable to the
Certificateholders for any amount payable under this Certificate
or the Agreement or, except as expressly provided in the
Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain
exceptions therein provided, certain losses on the Mortgage Loans
resulting from defaults by Mortgagors will be borne by the
Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the
Holders of the other Classes of the Certificates.
This Certificate does not purport to summarize the
Agreement and reference is made to the Agreement for the
interests, rights and limitations of rights, benefits,
obligations and duties evidenced hereby, and the rights, duties
and immunities of the Trustee.
The Agreement permits, with certain exceptions therein
provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the
Certificateholders under the Agreement at any time by the Company
and the Trustee with the consent of the Holders of Certificates
evidencing not less than 66% of all the Voting Rights as defined
in the Agreement. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and
upon all future Holders of this Certificate and of any
4
<PAGE>
Certificate issued upon the transfer hereof or in exchange
herefor or in lieu hereof whether or not notation of such consent
is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the
consent of the Holders of any of the Certificates.
No transfer of any Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate which is in the form of a
Definitive Certificate shall be made to any Person unless the
Trustee has received (i) a certificate from such transferee to
the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Internal Revenue Code of 1986, as amended ("Section 4975") (a
"Plan") or a Person that is using the assets of a Plan to acquire
such Certificate or (y) is an insurance company investing assets
of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Exemption
95-60, 60 Fed. Reg. 35925 (July 12, 1995) (the "Exemption")
applies to such transferee's acquisition and holding of such
Certificate, or (ii) an opinion of counsel satisfactory to the
Trustee, which opinion shall not be an expense of the Trustee or
the Company, to the effect that the purchase and holding of such
Certificate will not constitute or result in the assets of the
Trust Fund being deemed to be "plan assets" and subject to the
prohibited transaction provisions of ERISA or Section 4975 and
will not subject the Trustee or the Company to any obligation in
addition to those undertaken in the Agreement; provided, however,
that the Trustee will not require such certificate or opinion in
the event that, as a result of a change of law or otherwise,
counsel satisfactory to the Trustee has rendered an opinion to
the effect that the purchase and holding of a Class M, Class B1,
Class B2, Class B3, Class B4 or Class B5 Certificate by a Plan or
a Person that is purchasing or holding such Certificate with the
assets of a Plan will not constitute or result in a prohibited
transaction under ERISA or Section 4975.
No transfer of any Class R Certificate shall be made
to any Person unless the Trustee has received a certificate from
such transferee to the effect that, among other things, such
transferee (x) is not an employee benefit plan subject to ERISA
or a Plan or a Person that is using the assets of a Plan to
acquire any such Class R Certificate or (y) is an insurance
company investing assets of its general account and the Exemption
5
<PAGE>
applies to such transferee's acquisition and holding of any such
Class R Certificate.
As provided in the Agreement, and subject to certain
limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register of the Trustee upon
surrender of this Certificate for registration of transfer at the
office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the
City of New York, accompanied by a written instrument of transfer
in form satisfactory to the Company, the Trustee, and the
Certificate Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and thereupon one
or more new Certificates of the same Class of authorized
denominations evidencing the same aggregate Percentage Interest
will be issued to the designated transferee or transferees.
The Certificates are issuable only as registered
Certificates without coupons in denominations specified in the
Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Certificates are exchangeable for
new Certificates of the same Class of authorized denominations
evidencing the same aggregate Percentage Interest as requested by
the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may require
payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any
agent of the Trustee or the Certificate Registrar may treat the
Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate
Registrar nor any such agent shall be affected by any notice to
the contrary.
The obligations and responsibilities created by the
Agreement, and the Trust Fund created thereby shall terminate
upon payment to the Certificateholders, or provision therefor, in
accordance with the Agreement following the earlier of (a) the
repurchase by the Company of all Mortgage Loans and all property
acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than a Mortgage
6
<PAGE>
Loan described in clause (y)) plus accrued and unpaid interest
thereon at the rate provided for in the Agreement (less any
amounts representing previously unreimbursed Monthly Advances)
and (y) the appraised value of any property acquired in respect
of a Mortgage Loan determined as provided in the Agreement, and
(b) the later of the final payment or other liquidation (or any
Monthly Advance with respect thereto) of the last Mortgage Loan
remaining in the Trust Fund and the disposition of all property
acquired upon foreclosure or by deed in lieu of foreclosure of
any Mortgage Loan. The right of the Company to repurchase all the
Mortgage Loans and property in respect of Mortgage Loans is
subject to the Pool Scheduled Principal Balance at the time of
repurchase being less than 10 percent of the Pool Scheduled
Principal Balance as of the Cut-off Date. The Company's exercise
of such right will result in early retirement of the
Certificates.
Unless this Certificate has been countersigned by the
Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any
purpose.
7
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:____________________________
Name:
Title:
Countersigned:
By_______________________
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:___________________
8
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s),
assign(s) and transfer(s) unto
Please insert social security
or other identifying number of assignee
_________________________________________________________________
_________________________________________________________________
(Please print or typewrite name and address
including postal zip code of assignee)
_________________________________________________________________
this Certificate evidencing a Percentage Interest in certain
distributions with respect to the Trust Fund and hereby
authorizes the transfer of registration of such interest to
assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to
issue a new Certificate of like Class and Percentage Interest, to
the above named assignee and deliver such Certificate to the
following address:
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
Dated:
______________________________________
Signature by or on behalf of assignor
___________________________
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company
or broker of the signatory who is a member of a signature
guarantee medallion program.
9
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
10
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-15
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A-2 Certificate
Principal Balance:
Class A-2 $89,086,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RRQ0
October 26, 1998
11
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A-2 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
12
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
13
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-15
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A-3 Certificate
Principal Balance:
Class A-3 $30,235,235
Certificate Interest Initial Certificate Principal
Rate per annum: variable Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RRR8
October 26, 1998
14
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A-3 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
15
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
16
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-15
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A-4 Certificate
Principal Balance:
Class A-4 $7,838,765
Certificate Interest Initial Certificate Principal
Rate per annum: variable Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RRS6
October 26, 1998
17
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A-4 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
18
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
19
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-15
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A-5 Certificate
Principal Balance:
Class A-5 $1,500,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RRT4
October 26, 1998
20
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A-5 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
21
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
22
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-15
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A-6 Certificate
Principal Balance:
Class A-6 $1,500,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RRU1
October 26, 1998
23
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A-6 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
24
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
25
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-15
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A-7 Certificate
Principal Balance:
Class A-7 $2,000,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RRV9
October 26, 1998
26
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A-7 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
27
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
28
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-15
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A-8 Certificate
Principal Balance:
Class A-8 $8,571,429
Certificate Interest Initial Certificate Principal
Rate per annum: 6.50% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RRW7
October 26, 1998
29
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A-8 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
30
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
31
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-15
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A-9 Certificate
Principal Balance:
Class A-9 $5,000,000
Certificate Interest Initial Certificate Principal
Rate per annum: 7.00% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RRX5
October 26, 1998
32
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A-9 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
33
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
34
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-15
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A-10 Certificate
Principal Balance:
Class A-10 $1,428,571
Certificate Interest Initial Certificate Principal
Rate per annum: 7.375% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RRY3
October 26, 1998
35
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A-10 Certificates,
both as specified above) in certain distributions with respect to
the Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
36
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
37
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-15
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A-11 Certificate
Principal Balance:
Class A-11 $47,500,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RRZ0
October 26, 1998
38
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A-11 Certificates,
both as specified above) in certain distributions with respect to
the Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
39
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS THE
"RESIDUAL INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN
SECTIONS 860G(a)(2) AND 860D OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED (THE "CODE"). A TRANSFEREE OF THIS CERTIFICATE,
BY ACCEPTANCE HEREOF, IS DEEMED TO HAVE ACCEPTED THIS CERTIFICATE
SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFERABILITY AS SET FORTH
IN THE AGREEMENT, AND SHALL BE REQUIRED TO FURNISH AN AFFIDAVIT
TO THE TRANSFEROR AND THE TRUSTEE TO THE EFFECT THAT IT IS NOT A
DISQUALIFIED ORGANIZATION, AS SUCH TERM IS DEFINED IN CODE
SECTION 860E(e)(5), AN AGENT (INCLUDING A BROKER, NOMINEE OR
OTHER MIDDLEMAN) FOR SUCH DISQUALIFIED ORGANIZATION, OR AN ENTITY
THAT HOLDS REMIC RESIDUAL SECURITIES AS NOMINEE TO FACILITATE THE
CLEARANCE AND SETTLEMENT OF SUCH SECURITIES THROUGH BOOK-ENTRY
CHANGES IN ACCOUNTS OF PARTICIPATING ORGANIZATIONS (A "BOOK-ENTRY
NOMINEE") AND TO HAVE AGREED TO SUCH AMENDMENTS TO THE AGREEMENT
AS MAY BE REQUIRED TO FURTHER EFFECTUATE THE RESTRICTIONS ON
TRANSFERS TO DISQUALIFIED ORGANIZATIONS, AGENTS THEREOF OR BOOK-
ENTRY NOMINEES.
THE HOLDER OF THIS CLASS R CERTIFICATE, BY ACCEPTANCE HEREOF, IS
DEEMED TO HAVE IRREVOCABLY APPOINTED THE COMPANY (AS DEFINED
HEREIN) AS ITS AGENT AND ATTORNEY-IN-FACT TO ACT AS "TAX MATTERS
PERSON" OF THE REMIC TO PERFORM THE FUNCTIONS OF A "TAX MATTERS
PARTNER" FOR PURPOSES OF SUBCHAPTER C OF CHAPTER 63 OF SUBTITLE F
OF THE CODE, WITH RESPECT TO THE TRUST FUND.
40
<PAGE>
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
DISQUALIFIED ORGANIZATION, BOOK-ENTRY NOMINEE OR NON-PERMITTED
FOREIGN HOLDER, AS DEFINED IN THE AGREEMENT OR TO ANY EMPLOYEE
BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY
ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO SECTION
4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED ("SECTION
4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS OF A PLAN
TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED HEREIN. THE
TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN OTHER
RESTRICTIONS AS SET FORTH HEREIN.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-15
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class R Certificate
Principal Balance:
Class R $100
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RSA4
October 26, 1998
41
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class R Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
42
<PAGE>
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-15, issued in nineteen Classes (Class
A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class
A-7, Class A-8, Class A-9, Class A-10, Class A-11, Class R, Class
PO, Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
The Certificates are limited in right of payment to
certain payments on and collections in respect of the Mortgage
Loans, all as more specifically set forth in the Agreement. The
Certificateholder, by its acceptance of this Certificate, agrees
that it will look solely to the funds on deposit in the
Certificate Account for payment hereunder and that the Trustee in
its individual capacity is not personally liable to the
Certificateholders for any amount payable under this Certificate
or the Agreement or, except as expressly provided in the
Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain
exceptions therein provided, certain losses on the Mortgage Loans
resulting from defaults by Mortgagors will be borne by the
Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the
Holders of the other Classes of the Certificates.
This Certificate does not purport to summarize the
Agreement and reference is made to the Agreement for the
interests, rights and limitations of rights, benefits,
obligations and duties evidenced hereby, and the rights, duties
and immunities of the Trustee.
The Agreement permits, with certain exceptions therein
provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the
Certificateholders under the Agreement at any time by the Company
and the Trustee with the consent of the Holders of Certificates
evidencing not less than 66% of all the Voting Rights as defined
in the Agreement. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and
upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange
43
<PAGE>
herefor or in lieu hereof whether or not notation of such consent
is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the
consent of the Holders of any of the Certificates.
No transfer of any Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate which is in the form of a
Definitive Certificate shall be made to any Person unless the
Trustee has received (i) a certificate from such transferee to
the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Internal Revenue Code of 1986, as amended ("Section 4975") (a
"Plan") or a Person that is using the assets of a Plan to acquire
such Certificate or (y) is an insurance company investing assets
of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Exemption
95-60, 60 Fed. Reg. 35925 (July 12, 1995) (the "Exemption")
applies to such transferee's acquisition and holding of such
Certificate, or (ii) an opinion of counsel satisfactory to the
Trustee, which opinion shall not be an expense of the Trustee or
the Company, to the effect that the purchase and holding of such
Certificate will not constitute or result in the assets of the
Trust Fund being deemed to be "plan assets" and subject to the
prohibited transaction provisions of ERISA or Section 4975 and
will not subject the Trustee or the Company to any obligation in
addition to those undertaken in the Agreement; provided, however,
that the Trustee will not require such certificate or opinion in
the event that, as a result of a change of law or otherwise,
counsel satisfactory to the Trustee has rendered an opinion to
the effect that the purchase and holding of a Class M, Class B1,
Class B2, Class B3, Class B4 or Class B5 Certificate by a Plan or
a Person that is purchasing or holding such Certificate with the
assets of a Plan will not constitute or result in a prohibited
transaction under ERISA or Section 4975.
No transfer of any Class R Certificate shall be made
to any Person unless the Trustee has received a certificate from
such transferee to the effect that, among other things, such
transferee (x) is not an employee benefit plan subject to ERISA
or a Plan or a Person that is using the assets of a Plan to
acquire any such Class R Certificate or (y) is an insurance
company investing assets of its general account and the Exemption
applies to such transferee's acquisition and holding of any such
Class R Certificate.
44
<PAGE>
As provided in the Agreement, and subject to certain
limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register of the Trustee upon
surrender of this Certificate for registration of transfer at the
office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the
City of New York, accompanied by a written instrument of transfer
in form satisfactory to the Company, the Trustee, and the
Certificate Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and thereupon one
or more new Certificates of the same Class of authorized
denominations evidencing the same aggregate Percentage Interest
will be issued to the designated transferee or transferees.
The Certificates are issuable only as registered
Certificates without coupons in denominations specified in the
Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Certificates are exchangeable for
new Certificates of the same Class of authorized denominations
evidencing the same aggregate Percentage Interest as requested by
the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may require
payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any
agent of the Trustee or the Certificate Registrar may treat the
Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate
Registrar nor any such agent shall be affected by any notice to
the contrary.
The obligations and responsibilities created by the
Agreement, and the Trust Fund created thereby shall terminate
upon payment to the Certificateholders, or provision therefor, in
accordance with the Agreement following the earlier of (a) the
repurchase by the Company of all Mortgage Loans and all property
acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than a Mortgage
Loan described in clause (y)) plus accrued and unpaid interest
thereon at the rate provided for in the Agreement (less any
amounts representing previously unreimbursed Monthly Advances)
and (y) the appraised value of any property acquired in respect
45
<PAGE>
of a Mortgage Loan determined as provided in the Agreement, and
(b) the later of the final payment or other liquidation (or any
Monthly Advance with respect thereto) of the last Mortgage Loan
remaining in the Trust Fund and the disposition of all property
acquired upon foreclosure or by deed in lieu of foreclosure of
any Mortgage Loan. The right of the Company to repurchase all the
Mortgage Loans and property in respect of Mortgage Loans is
subject to the Pool Scheduled Principal Balance at the time of
repurchase being less than 10 percent of the Pool Scheduled
Principal Balance as of the Cut-off Date. The Company's exercise
of such right will result in early retirement of the
Certificates.
Unless this Certificate has been countersigned by the
Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any
purpose.
46
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:___________________________
Name:
Title:
Countersigned:
By ______________________
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:___________________
47
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s),
assign(s) and transfer(s) unto
Please insert social security
or other identifying number of assignee
_________________________________________________________________
_________________________________________________________________
(Please print or typewrite name and address
including postal zip code of assignee)
_________________________________________________________________
this Certificate evidencing a Percentage Interest in certain
distributions with respect to the Trust Fund and hereby
authorizes the transfer of registration of such interest to
assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to
issue a new Certificate of like Class and Percentage Interest, to
the above named assignee and deliver such Certificate to the
following address:
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
Dated:___________________
_____________________________________
Signature by or on behalf of assignor
______________________
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust
company or broker of the signatory who is a member of a
signature guarantee medallion program.
48
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS
OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED
HEREIN. THE TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN
OTHER RESTRICTIONS AS SET FORTH HEREIN.
49
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-15
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class M Certificate
Principal Balance:
Class M $8,804,571
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RSB2
October 26, 1998
50
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class M Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
51
<PAGE>
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-15, issued in nineteen Classes (Class
A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class
A-7, Class A-8, Class A-9, Class A-10, Class A-11, Class R, Class
PO, Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
The Certificates are limited in right of payment to
certain payments on and collections in respect of the Mortgage
Loans, all as more specifically set forth in the Agreement. The
Certificateholder, by its acceptance of this Certificate, agrees
that it will look solely to the funds on deposit in the
Certificate Account for payment hereunder and that the Trustee in
its individual capacity is not personally liable to the
Certificateholders for any amount payable under this Certificate
or the Agreement or, except as expressly provided in the
Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain
exceptions therein provided, certain losses on the Mortgage Loans
resulting from defaults by Mortgagors will be borne by the
Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the
Holders of the other Classes of the Certificates.
This Certificate does not purport to summarize the
Agreement and reference is made to the Agreement for the
interests, rights and limitations of rights, benefits,
obligations and duties evidenced hereby, and the rights, duties
and immunities of the Trustee.
The Agreement permits, with certain exceptions therein
provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the
Certificateholders under the Agreement at any time by the Company
and the Trustee with the consent of the Holders of Certificates
evidencing not less than 66% of all the Voting Rights as defined
in the Agreement. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and
upon all future Holders of this Certificate and of any
52
<PAGE>
Certificate issued upon the transfer hereof or in exchange
herefor or in lieu hereof whether or not notation of such consent
is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the
consent of the Holders of any of the Certificates.
No transfer of any Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate which is in the form of a
Definitive Certificate shall be made to any Person unless the
Trustee has received (i) a certificate from such transferee to
the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Internal Revenue Code of 1986, as amended ("Section 4975") (a
"Plan") or a Person that is using the assets of a Plan to acquire
such Certificate or (y) is an insurance company investing assets
of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Exemption
95-60, 60 Fed. Reg. 35925 (July 12, 1995) (the "Exemption")
applies to such transferee's acquisition and holding of such
Certificate, or (ii) an opinion of counsel satisfactory to the
Trustee, which opinion shall not be an expense of the Trustee or
the Company, to the effect that the purchase and holding of such
Certificate will not constitute or result in the assets of the
Trust Fund being deemed to be "plan assets" and subject to the
prohibited transaction provisions of ERISA or Section 4975 and
will not subject the Trustee or the Company to any obligation in
addition to those undertaken in the Agreement; provided, however,
that the Trustee will not require such certificate or opinion in
the event that, as a result of a change of law or otherwise,
counsel satisfactory to the Trustee has rendered an opinion to
the effect that the purchase and holding of a Class M, Class B1,
Class B2, Class B3, Class B4 or Class B5 Certificate by a Plan or
a Person that is purchasing or holding such Certificate with the
assets of a Plan will not constitute or result in a prohibited
transaction under ERISA or Section 4975.
No transfer of any Class R Certificate shall be made
to any Person unless the Trustee has received a certificate from
such transferee to the effect that, among other things, such
transferee (x) is not an employee benefit plan subject to ERISA
or a Plan or a Person that is using the assets of a Plan to
acquire any such Class R Certificate or (y) is an insurance
company investing assets of its general account and the Exemption
53
<PAGE>
applies to such transferee's acquisition and holding of any such
Class R Certificate.
As provided in the Agreement, and subject to certain
limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register of the Trustee upon
surrender of this Certificate for registration of transfer at the
office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the
City of New York, accompanied by a written instrument of transfer
in form satisfactory to the Company, the Trustee, and the
Certificate Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and thereupon one
or more new Certificates of the same Class of authorized
denominations evidencing the same aggregate Percentage Interest
will be issued to the designated transferee or transferees.
The Certificates are issuable only as registered
Certificates without coupons in denominations specified in the
Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Certificates are exchangeable for
new Certificates of the same Class of authorized denominations
evidencing the same aggregate Percentage Interest as requested by
the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may require
payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any
agent of the Trustee or the Certificate Registrar may treat the
Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate
Registrar nor any such agent shall be affected by any notice to
the contrary.
The obligations and responsibilities created by the
Agreement, and the Trust Fund created thereby shall terminate
upon payment to the Certificateholders, or provision therefor, in
accordance with the Agreement following the earlier of (a) the
repurchase by the Company of all Mortgage Loans and all property
acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than a Mortgage
54
<PAGE>
Loan described in clause (y)) plus accrued and unpaid interest
thereon at the rate provided for in the Agreement (less any
amounts representing previously unreimbursed Monthly Advances)
and (y) the appraised value of any property acquired in respect
of a Mortgage Loan determined as provided in the Agreement, and
(b) the later of the final payment or other liquidation (or any
Monthly Advance with respect thereto) of the last Mortgage Loan
remaining in the Trust Fund and the disposition of all property
acquired upon foreclosure or by deed in lieu of foreclosure of
any Mortgage Loan. The right of the Company to repurchase all the
Mortgage Loans and property in respect of Mortgage Loans is
subject to the Pool Scheduled Principal Balance at the time of
repurchase being less than 10 percent of the Pool Scheduled
Principal Balance as of the Cut-off Date. The Company's exercise
of such right will result in early retirement of the
Certificates.
Unless this Certificate has been countersigned by the
Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any
purpose.
55
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:___________________________
Name:
Title:
Countersigned:
By_______________________
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:___________________
56
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s),
assign(s) and transfer(s) unto
Please insert social security
or other identifying number of assignee
_________________________________________________________________
_________________________________________________________________
(Please print or typewrite name and address
including postal zip code of assignee)
_________________________________________________________________
this Certificate evidencing a Percentage Interest in certain
distributions with respect to the Trust Fund and hereby
authorizes the transfer of registration of such interest to
assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to
issue a new Certificate of like Class and Percentage Interest, to
the above named assignee and deliver such Certificate to the
following address:
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
Dated:__________________
_______________________________________
Signature by or on behalf of assignor
_____________________________
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company
or broker of the signatory who is a member of a signature
guarantee medallion program.
57
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO
CERTAIN CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN
THE AGREEMENT REFERRED TO HEREIN.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS
OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED
HEREIN. THE TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN
OTHER RESTRICTIONS AS SET FORTH HEREIN.
58
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-15
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B1 Certificate
Principal Balance:
Class B1 $3,807,382
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RSC0
October 26, 1998
59
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class B-1 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
60
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO
CERTAIN CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN
THE AGREEMENT REFERRED TO HEREIN.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS
OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED
HEREIN. THE TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN
OTHER RESTRICTIONS AS SET FORTH HEREIN.
61
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-15
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B2 Certificate
Principal Balance:
Class B2 $2,141,652
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RSD8
October 26, 1998
62
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class B-2 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
63
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO
CERTAIN CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN
THE AGREEMENT REFERRED TO HEREIN.
THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR
THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES ("BLUE SKY
LAWS"), AND SUCH CERTIFICATE MAY NOT BE OFFERED, RESOLD, PLEDGED
OR OTHERWISE TRANSFERRED EXCEPT (A) TO A PERSON WHOM THE SELLER
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A UNDER THE SECURITIES ACT IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (B) PURSUANT TO AN
EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (C) TO AN INSTITUTIONAL
ACCREDITED INVESTOR AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7)
OF REGULATION D UNDER THE SECURITIES ACT, IN EACH CASE IN A
TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND IN ACCORDANCE WITH ANY APPLICABLE BLUE SKY
LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF THE
EXEMPTION PROVIDED BY RULE 144 FOR RESALES OF THIS CERTIFICATE.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS
OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED
HEREIN. THE TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN
OTHER RESTRICTIONS AS SET FORTH HEREIN.
64
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-15
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B3 Certificate
Principal Balance:
Class B3 $1,903,691.00
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RSR7
October 26, 1998
65
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class B3 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
66
<PAGE>
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-15, issued in nineteen Classes (Class
A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class
A-7, Class A-8, Class A-9, Class A-10, Class A-11, Class R, Class
PO, Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
The Certificates are limited in right of payment to
certain payments on and collections in respect of the Mortgage
Loans, all as more specifically set forth in the Agreement. The
Certificateholder, by its acceptance of this Certificate, agrees
that it will look solely to the funds on deposit in the
Certificate Account for payment hereunder and that the Trustee in
its individual capacity is not personally liable to the
Certificateholders for any amount payable under this Certificate
or the Agreement or, except as expressly provided in the
Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain
exceptions therein provided, certain losses on the Mortgage Loans
resulting from defaults by Mortgagors will be borne by the
Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the
Holders of the other Classes of the Certificates.
This Certificate does not purport to summarize the
Agreement and reference is made to the Agreement for the
interests, rights and limitations of rights, benefits,
obligations and duties evidenced hereby, and the rights, duties
and immunities of the Trustee.
The Agreement permits, with certain exceptions therein
provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the
Certificateholders under the Agreement at any time by the Company
and the Trustee with the consent of the Holders of Certificates
evidencing not less than 66% of all the Voting Rights as defined
in the Agreement. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and
upon all future Holders of this Certificate and of any
67
<PAGE>
Certificate issued upon the transfer hereof or in exchange
herefor or in lieu hereof whether or not notation of such consent
is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the
consent of the Holders of any of the Certificates.
No transfer of any Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate which is in the form of a
Definitive Certificate shall be made to any Person unless the
Trustee has received (i) a certificate from such transferee to
the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Internal Revenue Code of 1986, as amended ("Section 4975") (a
"Plan") or a Person that is using the assets of a Plan to acquire
such Certificate or (y) is an insurance company investing assets
of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Exemption
95-60, 60 Fed. Reg. 35925 (July 12, 1995) (the "Exemption")
applies to such transferee's acquisition and holding of such
Certificate, or (ii) an opinion of counsel satisfactory to the
Trustee, which opinion shall not be an expense of the Trustee or
the Company, to the effect that the purchase and holding of such
Certificate will not constitute or result in the assets of the
Trust Fund being deemed to be "plan assets" and subject to the
prohibited transaction provisions of ERISA or Section 4975 and
will not subject the Trustee or the Company to any obligation in
addition to those undertaken in the Agreement; provided, however,
that the Trustee will not require such certificate or opinion in
the event that, as a result of a change of law or otherwise,
counsel satisfactory to the Trustee has rendered an opinion to
the effect that the purchase and holding of a Class M, Class B1,
Class B2, Class B3, Class B4 or Class B5 Certificate by a Plan or
a Person that is purchasing or holding such Certificate with the
assets of a Plan will not constitute or result in a prohibited
transaction under ERISA or Section 4975.
No transfer of any Class R Certificate shall be made
to any Person unless the Trustee has received a certificate from
such transferee to the effect that, among other things, such
transferee (x) is not an employee benefit plan subject to ERISA
or a Plan or a Person that is using the assets of a Plan to
acquire any such Class R Certificate or (y) is an insurance
company investing assets of its general account and the Exemption
68
<PAGE>
applies to such transferee's acquisition and holding of any such
Class R Certificate.
As provided in the Agreement, and subject to certain
limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register of the Trustee upon
surrender of this Certificate for registration of transfer at the
office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the
City of New York, accompanied by a written instrument of transfer
in form satisfactory to the Company, the Trustee, and the
Certificate Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and thereupon one
or more new Certificates of the same Class of authorized
denominations evidencing the same aggregate Percentage Interest
will be issued to the designated transferee or transferees.
The Certificates are issuable only as registered
Certificates without coupons in denominations specified in the
Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Certificates are exchangeable for
new Certificates of the same Class of authorized denominations
evidencing the same aggregate Percentage Interest as requested by
the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may require
payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any
agent of the Trustee or the Certificate Registrar may treat the
Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate
Registrar nor any such agent shall be affected by any notice to
the contrary.
The obligations and responsibilities created by the
Agreement, and the Trust Fund created thereby shall terminate
upon payment to the Certificateholders, or provision therefor, in
accordance with the Agreement following the earlier of (a) the
repurchase by the Company of all Mortgage Loans and all property
acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than a Mortgage
69
<PAGE>
Loan described in clause (y)) plus accrued and unpaid interest
thereon at the rate provided for in the Agreement (less any
amounts representing previously unreimbursed Monthly Advances)
and (y) the appraised value of any property acquired in respect
of a Mortgage Loan determined as provided in the Agreement, and
(b) the later of the final payment or other liquidation (or any
Monthly Advance with respect thereto) of the last Mortgage Loan
remaining in the Trust Fund and the disposition of all property
acquired upon foreclosure or by deed in lieu of foreclosure of
any Mortgage Loan. The right of the Company to repurchase all the
Mortgage Loans and property in respect of Mortgage Loans is
subject to the Pool Scheduled Principal Balance at the time of
repurchase being less than 10 percent of the Pool Scheduled
Principal Balance as of the Cut-off Date. The Company's exercise
of such right will result in early retirement of the
Certificates.
Unless this Certificate has been countersigned by the
Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any
purpose.
70
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:____________________________
Name:
Title:
Countersigned:
By_______________________
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:___________________
71
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s),
assign(s) and transfer(s) unto
Please insert social security
or other identifying number of assignee
_________________________________________________________________
_________________________________________________________________
(Please print or typewrite name and address
including postal zip code of assignee)
_________________________________________________________________
this Certificate evidencing a Percentage Interest in certain
distributions with respect to the Trust Fund and hereby
authorizes the transfer of registration of such interest to
assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to
issue a new Certificate of like Class and Percentage Interest, to
the above named assignee and deliver such Certificate to the
following address:
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
Dated:___________________
_______________________________________
Signature by or on behalf of assignor
___________________________
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company
or broker of the signatory who is a member of a signature
guarantee medallion program.
72
<PAGE>
In connection with any transfer of this Certificate,
the undersigned registered holder hereof confirms that without
utilizing any general solicitation or general advertising:
(Check One) -
|_| (a) This Certificate is being transferred by the
undersigned to a person whom the undersigned
reasonably believes is a "qualified
institutional buyer" (as defined in Rule 144A
under the Securities Act of 1933, as amended)
pursuant to the exemption from registration
under the Securities Act of 1933, as amended,
provided by Rule 144A thereunder.
|_| (b) This Certificate is being transferred by the
undersigned to an institutional "accredited
investor" (as defined in Rule 501(a)(1), (2),
(3) or (7) of Regulation D under the
Securities Act of 1933, as amended) and that
the undersigned has been advised by the
prospective purchaser that it intends to hold
this Certificate for investment and not for
distribution or resale.
Dated_________________________
(Signature)
If none of the foregoing boxes is checked, the Trustee shall not
be obligated to register this Certificate in the name of any
person other than the registered holder thereof unless and until
the conditions to any such transfer of registration set forth
herein, and in the Pooling and Servicing Agreement have been
satisfied.
TO BE COMPLETED BY PURCHASER IF (a) ABOVE IS CHECKED:
The undersigned represents and warrants that (i) it is
a "qualified institutional buyer" (as defined in Rule 144A under
the Securities Act of 1933, as amended) and acknowledges that it
has received such information as the undersigned has requested
73
<PAGE>
pursuant to Rule 144A or has determined not to request such
information and that it is aware that the registered holder is
relying upon the undersigned's foregoing representations in order
to claim the exemption from registration provided by Rule 144A,
and (ii) the undersigned (x) is not an employee benefit plan
subject to the Employee Retirement Income Security Act of 1974,
as amended, or a plan subject to Section 4975 of the Internal
Revenue Code of 1986, as amended, and is not using the assets of
any such employee benefit or other plan to acquire this
Certificate or (y) is an insurance company investing assets of
its general account and the exemptions provided by Section III(a)
of Department of Labor Prohibited Transaction Exemption 95-60, 60
Fed. Reg. 35925 (July 12, 1995), apply to the acquisition and
holding by the undersigned of this Certificate.
Dated_________________________
(Signature)
TO BE COMPLETED BY PURCHASER IF (b) ABOVE IS CHECKED:
The undersigned represents and warrants that (i) it is
an institutional "accredited investor" (as defined in Rule
501(a)(1), (2), (3) or (7) of Regulation D under the Securities
Act of 1933, as amended), and (ii) the undersigned (x) is not an
employee benefit plan subject to the Employee Retirement Income
Security Act of 1974, as amended, or a plan subject to Section
4975 of the Internal Revenue Code of 1986, as amended, and is not
using the assets of any such employee benefit or other plan to
acquire this Certificate or (y) is an insurance company investing
assets of its general account and the exemptions provided by
Section III(a) of Department of Labor Prohibited Transaction
Exemption 95-60, 60 Fed. Reg. 35925 (July 12, 1995), apply to the
acquisition and holding by the undersigned of this Certificate.
Dated_________________________
(Signature)
74
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO
CERTAIN CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN
THE AGREEMENT REFERRED TO HEREIN.
THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR
THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES ("BLUE SKY
LAWS"), AND SUCH CERTIFICATE MAY NOT BE OFFERED, RESOLD, PLEDGED
OR OTHERWISE TRANSFERRED EXCEPT (A) TO A PERSON WHOM THE SELLER
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A UNDER THE SECURITIES ACT IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (B) PURSUANT TO AN
EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (C) TO AN INSTITUTIONAL
ACCREDITED INVESTOR AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7)
OF REGULATION D UNDER THE SECURITIES ACT, IN EACH CASE IN A
TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND IN ACCORDANCE WITH ANY APPLICABLE BLUE SKY
LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF THE
EXEMPTION PROVIDED BY RULE 144 FOR RESALES OF THIS CERTIFICATE.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS
OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED
HEREIN. THE TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN
OTHER RESTRICTIONS AS SET FORTH HEREIN.
75
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-15
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B4 Certificate
Principal Balance:
Class B4 $951,845.00
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RSS5
October 26, 1998
76
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class B4 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
77
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO
CERTAIN CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN
THE AGREEMENT REFERRED TO HEREIN.
THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR
THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES ("BLUE SKY
LAWS"), AND SUCH CERTIFICATE MAY NOT BE OFFERED, RESOLD, PLEDGED
OR OTHERWISE TRANSFERRED EXCEPT (A) TO A PERSON WHOM THE SELLER
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A UNDER THE SECURITIES ACT IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (B) PURSUANT TO AN
EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (C) TO AN INSTITUTIONAL
ACCREDITED INVESTOR AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7)
OF REGULATION D UNDER THE SECURITIES ACT, IN EACH CASE IN A
TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND IN ACCORDANCE WITH ANY APPLICABLE BLUE SKY
LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF THE
EXEMPTION PROVIDED BY RULE 144 FOR RESALES OF THIS CERTIFICATE.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS
OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED
HEREIN. THE TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN
OTHER RESTRICTIONS AS SET FORTH HEREIN.
78
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-15
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B5 Certificate
Principal Balance:
Class B5 $1,428,686.53
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RST3
October 26, 1998
79
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class B5 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the Trustee by
check or money order mailed to the Person entitled thereto at the
address appearing in the Certificate Register or, upon written
request by the Certificateholder, by such other means of payment
as such Person and the Trustee shall agree. Except as otherwise
provided in the Agreement, the final distribution on
80
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "SECURITIES ACT"). ANY RESALE OR
TRANSFER OF THIS CERTIFICATE WITHOUT REGISTRATION THEREOF UNDER
THE SECURITIES ACT MAY ONLY BE MADE IN A TRANSACTION EXEMPT FROM
THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
ACCORDANCE WITH SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
81
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-15
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class PO Certificate
Principal Balance:
Class PO $897,870.75
Certificate Interest Initial Certificate Principal
Rate per annum: Balance of this Certificate:
non-interest bearing $
Cut-off Date:
September 1, 1998
First Distribution Date:
October 26, 1998
82
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class PO Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
83
<PAGE>
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-15, issued in nineteen Classes (Class
A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class
A-7, Class A-8, Class A-9, Class A-10, Class A-11, Class R, Class
PO, Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
The Certificates are limited in right of payment to
certain payments on and collections in respect of the Mortgage
Loans, all as more specifically set forth in the Agreement. The
Certificateholder, by its acceptance of this Certificate, agrees
that it will look solely to the funds on deposit in the
Certificate Account for payment hereunder and that the Trustee in
its individual capacity is not personally liable to the
Certificateholders for any amount payable under this Certificate
or the Agreement or, except as expressly provided in the
Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain
exceptions therein provided, certain losses on the Mortgage Loans
resulting from defaults by Mortgagors will be borne by the
Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the
Holders of the other Classes of the Certificates.
This Certificate does not purport to summarize the
Agreement and reference is made to the Agreement for the
interests, rights and limitations of rights, benefits,
obligations and duties evidenced hereby, and the rights, duties
and immunities of the Trustee.
The Agreement permits, with certain exceptions therein
provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the
Certificateholders under the Agreement at any time by the Company
and the Trustee with the consent of the Holders of Certificates
evidencing not less than 66% of all the Voting Rights as defined
in the Agreement. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and
upon all future Holders of this Certificate and of any
84
<PAGE>
Certificate issued upon the transfer hereof or in exchange
herefor or in lieu hereof whether or not notation of such consent
is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the
consent of the Holders of any of the Certificates.
No transfer of any Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate which is in the form of a
Definitive Certificate shall be made to any Person unless the
Trustee has received (i) a certificate from such transferee to
the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Internal Revenue Code of 1986, as amended ("Section 4975") (a
"Plan") or a Person that is using the assets of a Plan to acquire
such Certificate or (y) is an insurance company investing assets
of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Class
Exemption 95-60, 60 Fed. Reg. 35925 (July 12, 1995) (the
"Exemption") applies to such transferee's acquisition and holding
of such Certificate, or (ii) an opinion of counsel satisfactory
to the Trustee, which opinion shall not be an expense of the
Trustee or the Company, to the effect that the purchase and
holding of such Certificate will not constitute or result in the
assets of the Trust Fund being deemed to be "plan assets" and
subject to the prohibited transaction provisions of ERISA or
Section 4975 and will not subject the Trustee or the Company to
any obligation in addition to those undertaken in the Agreement;
provided, however, that the Trustee will not require such
certificate or opinion in the event that, as a result of a change
of law or otherwise, counsel satisfactory to the Trustee has
rendered an opinion to the effect that the purchase and holding
of a Class M, Class B1, Class B2, Class B3, Class B4 or Class B5
Certificate by a Plan or a Person that is purchasing or holding
such Certificate with the assets of a Plan will not constitute or
result in a prohibited transaction under ERISA or Section 4975.
No transfer of any Class R Certificate shall be made
to any Person unless the Trustee has received a certificate from
such transferee to the effect that, among other things, such
transferee (x) is not an employee benefit plan subject to ERISA
or a Plan or a Person that is using the assets of a Plan to
acquire any such Class R Certificate or (y) is an insurance
company investing assets of its general account and the Exemption
85
<PAGE>
applies to such transferee's acquisition and holding of any such
Class R Certificate.
As provided in the Agreement, and subject to certain
limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register of the Trustee upon
surrender of this Certificate for registration of transfer at the
office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the
City of New York, accompanied by a written instrument of transfer
in form satisfactory to the Company, the Trustee, and the
Certificate Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and thereupon one
or more new Certificates of the same Class of authorized
denominations evidencing the same aggregate Percentage Interest
will be issued to the designated transferee or transferees.
The Certificates are issuable only as registered
Certificates without coupons in denominations specified in the
Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Certificates are exchangeable for
new Certificates of the same Class of authorized denominations
evidencing the same aggregate Percentage Interest as requested by
the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may require
payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any
agent of the Trustee or the Certificate Registrar may treat the
Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate
Registrar nor any such agent shall be affected by any notice to
the contrary.
The obligations and responsibilities created by the
Agreement, and the Trust Fund created thereby shall terminate
upon payment to the Certificateholders, or provision therefor, in
accordance with the Agreement following the earlier of (a) the
repurchase by the Company of all Mortgage Loans and all property
acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than a Mortgage
86
<PAGE>
Loan described in clause (y)) plus accrued and unpaid interest
thereon at the rate provided for in the Agreement (less any
amounts representing previously unreimbursed Monthly Advances)
and (y) the appraised value of any property acquired in respect
of a Mortgage Loan determined as provided in the Agreement, and
(b) the later of the final payment or other liquidation (or any
Monthly Advance with respect thereto) of the last Mortgage Loan
remaining in the Trust Fund and the disposition of all property
acquired upon foreclosure or by deed in lieu of foreclosure of
any Mortgage Loan. The right of the Company to repurchase all the
Mortgage Loans and property in respect of Mortgage Loans is
subject to the Pool Scheduled Principal Balance at the time of
repurchase being less than 10 percent of the Pool Scheduled
Principal Balance as of the Cut-off Date. The Company's exercise
of such right will result in early retirement of the
Certificates.
Unless this Certificate has been countersigned by the
Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any
purpose.
87
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:__________________________
Name:
Title:
Countersigned:
By______________________
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:__________________
88
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s),
assign(s) and transfer(s) unto
Please insert social security
or other identifying number of assignee
_________________________________________________________________
_________________________________________________________________
(Please print or typewrite name and address
including postal zip code of assignee)
this Certificate evidencing a Percentage Interest in certain
distributions with respect to the Trust Fund and hereby
authorizes the transfer of registration of such interest to
assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to
issue a new Certificate of like Class and Percentage Interest, to
the above named assignee and deliver such Certificate to the
following address:
_________________________________________________________________
_________________________________________________________________
_________________________________________________________________
Dated:__________________
________________________________________
Signature by or on behalf of assignor
___________________________
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company
or broker of the signatory who is a member of a signature
guarantee medallion program.
89
<PAGE>
EXHIBIT B
PRINCIPAL BALANCE SCHEDULES
<PAGE>
EXHIBIT C
MORTGAGE LOANS
[Each Mortgage Loan shall be identified by loan
number, address of the Mortgaged Property and name of the
Mortgagor. The following details shall be set forth as to each
Mortgage Loan: (i) the principal balance at the time of its
origination, (ii) the Scheduled Principal Balance as of the
Cut-off Date, (iii) the interest rate borne by the Mortgage Note,
(iv) the scheduled monthly level payment of principal and
interest, (v) the Loan-To-Value ratio, (vi) the maturity date of
the Mortgage Note and (vii) the Base Servicing Fee Rate for such
Mortgage Loan. Cooperative Loans and Enhanced Streamlined
Refinance program loans shall be designated as such.]
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 1
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007678519 MORTGAGORS: PATEL DUSHYANT
PATEL MANDAKINI
REGION CODE ADDRESS : 18440 FARMINGHAM WAY
03 CITY : CUPERTINO
STATE/ZIP : CA 95014
MORTGAGE AMOUNT : 372,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 369,971.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,562.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.35000 MATURITY DATE : 02/01/28
CURRENT INT RATE: 7.35000 PRODUCT CODE : 002
LTV : 53.14200
----------------------------------------------------------------
0 0007678576 MORTGAGORS: VAN DER LINDEN SCOTT
VAN DER LINDEN DIANA
REGION CODE ADDRESS : 20901 SHADOW ROCK LANE
03 CITY : TRABUCO CANYON
STATE/ZIP : CA 92679
MORTGAGE AMOUNT : 246,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,197.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,655.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.10000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.10000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007678600 MORTGAGORS: WANGAARD JOHN
REGION CODE ADDRESS : 112 LONGFIELD PLACE
03 CITY : MORAGA
STATE/ZIP : CA 94556
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,411.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,809.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.45000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.45000 PRODUCT CODE : 002
LTV : 74.28500
----------------------------------------------------------------
0 0007678659 MORTGAGORS: CHASE MICHAEL
BALISTRERI DONNA
REGION CODE ADDRESS : 15714 ALTA VISTA WAY
03 CITY : SAN JOSE
STATE/ZIP : CA 95127
MORTGAGE AMOUNT : 484,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 482,599.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,334.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.35000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.35000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007678683 MORTGAGORS: JONES TERRY
JONES DOROTHY
REGION CODE ADDRESS : 1021 NORTH AVENUE
03 CITY : ESCONDIDO
STATE/ZIP : CA 92026
MORTGAGE AMOUNT : 239,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,367.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,685.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.55000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.55000 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,602,300.00
P & I AMT: 11,048.21
UPB AMT: 1,596,547.63
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 2
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007678709 MORTGAGORS: JOHNSON PHILIP
SUN-JOHNSON TE-LING
REGION CODE ADDRESS : 13905 PIERCE ROAD
03 CITY : SARATOGA
STATE/ZIP : CA 95070
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 648,543.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,544.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 68.42100
----------------------------------------------------------------
0 0007678741 MORTGAGORS: RAVAYI SHAHRYAR
RAVAYI SIMA
REGION CODE ADDRESS : 1810 AUSTIN AVENUE
03 CITY : LOS ALTOS
STATE/ZIP : CA 94024
MORTGAGE AMOUNT : 435,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 434,025.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,041.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 62.14200
----------------------------------------------------------------
0 0007678766 MORTGAGORS: ANDERSON STEVEN
ANDERSON TERESA
REGION CODE ADDRESS : 622 VIA TREPADORA
03 CITY : SANTA BARBARA
STATE/ZIP : CA 93110
MORTGAGE AMOUNT : 376,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 375,730.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,594.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.35000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.35000 PRODUCT CODE : 002
LTV : 48.28200
----------------------------------------------------------------
0 0007678774 MORTGAGORS: ESPARZA ANGELITA
REGION CODE ADDRESS : 829 N 17TH STREET
03 CITY : SAN JOSE
STATE/ZIP : CA 95112
MORTGAGE AMOUNT : 242,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,529.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,651.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007678790 MORTGAGORS: VON ELTEN PETER
VON ELTEN KAREN
REGION CODE ADDRESS : 1385 SHADOW ROCK DRIVE
03 CITY : AUBURN
STATE/ZIP : CA 95602
MORTGAGE AMOUNT : 407,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 406,106.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,873.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.60000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.60000 PRODUCT CODE : 002
LTV : 76.79200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,110,700.00
P & I AMT: 14,706.44
UPB AMT: 2,105,935.70
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 3
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007678816 MORTGAGORS: VATANI MEHDI
VATANI DEBORAH
REGION CODE ADDRESS : 2853 SYCAMORE WAY
03 CITY : SANTA CLARA
STATE/ZIP : CA 95051
MORTGAGE AMOUNT : 382,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 381,152.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,684.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.55000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.55000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007678865 MORTGAGORS: BROSNAN TIMOTHY
BROSNAN JENNIFER
REGION CODE ADDRESS : 501 CATALINA DRIVE
03 CITY : NEWPORT BEACH
STATE/ZIP : CA 92663
MORTGAGE AMOUNT : 355,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 354,204.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,482.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 64.54500
----------------------------------------------------------------
0 0007678873 MORTGAGORS: STEPHENS RICHARD
STEPHENS CAMILLE
REGION CODE ADDRESS : 3001 FIRESIDE DRIVE
03 CITY : SAN JOSE
STATE/ZIP : CA 95128
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,343.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,079.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.55000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.55000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007678915 MORTGAGORS: FRAINES LUDWIG
FRAINES NANCY
REGION CODE ADDRESS : 3824 MADISON ROAD
03 CITY : LA CANADA-FLINTRIDGE
STATE/ZIP : CA 91011
MORTGAGE AMOUNT : 359,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 356,611.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,461.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.30000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.30000 PRODUCT CODE : 002
LTV : 59.83300
----------------------------------------------------------------
0 0007678949 MORTGAGORS: MOORE KEVIN
MOORE ANGELYN
REGION CODE ADDRESS : 720 VALLE VISTA DRIVE
03 CITY : SIERRA MADRE
STATE/ZIP : CA 91024
MORTGAGE AMOUNT : 387,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 385,828.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,692.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.45000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.45000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,779,000.00
P & I AMT: 12,400.07
UPB AMT: 1,773,140.57
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 4
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007678956 MORTGAGORS: GRANISH DAVID
CAMERON E.
REGION CODE ADDRESS : 3128 HARMONY PLACE
03 CITY : LA CRESCENTA
STATE/ZIP : CA 91214
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,281.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,111.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.30000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.30000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007678964 MORTGAGORS: ISOLA DOMENIC
ISOLA JULI
REGION CODE ADDRESS : 205 SOUTH CALLE SEVILLE
03 CITY : SAN CLEMENTE
STATE/ZIP : CA 92672
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,467.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,686.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.55000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.55000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007678972 MORTGAGORS: MCCURDY BEVERLY
REGION CODE ADDRESS : 10 RINCON VISTA ROAD
03 CITY : SANTA BARBARA
STATE/ZIP : CA 93103
MORTGAGE AMOUNT : 335,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 334,234.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,319.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.40000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.40000 PRODUCT CODE : 002
LTV : 43.79000
----------------------------------------------------------------
0 0007678998 MORTGAGORS: IVES PETER
IVES ANNEMARIE
REGION CODE ADDRESS : 602 SOUTH BROADWAY A
03 CITY : REDONDO BEACH
STATE/ZIP : CA 90277
MORTGAGE AMOUNT : 262,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,364.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,760.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.10000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.10000 PRODUCT CODE : 002
LTV : 68.94700
----------------------------------------------------------------
0 0007679004 MORTGAGORS: DIEBOLD THOMAS
DIEBOLD DIANA
REGION CODE ADDRESS : 16801 EDWIN JONES COURT
03 CITY : MORGAN HILL
STATE/ZIP : CA 95037
MORTGAGE AMOUNT : 336,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,110.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,157.01 OUTSIDE CONV DATE :
LIFETIME RATE : 6.65000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 6.65000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,481,000.00
P & I AMT: 10,035.12
UPB AMT: 1,477,458.60
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 5
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007679020 MORTGAGORS: MORGAN TIMOTHY
MORGAN JEANNE
REGION CODE ADDRESS : 213 SAN CLEMENTE STREET
03 CITY : SANTA BARBARA
STATE/ZIP : CA 93109
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,362.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,819.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.20000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.20000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007679053 MORTGAGORS: GALLAGHER MARY
REGION CODE ADDRESS : 72 CAMELLIA AVE
03 CITY : SAN FRANCISCO
STATE/ZIP : CA 94112
MORTGAGE AMOUNT : 232,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 231,968.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,609.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.40000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.40000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007679178 MORTGAGORS: MCCALL JAMES
MCCALL DEBRA
REGION CODE ADDRESS : 276 RAMONA ROAD
03 CITY : DANVILLE
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 253,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,932.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,772.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 73.47800
----------------------------------------------------------------
0 0007679194 MORTGAGORS: LOWE RANDOLPH
REGION CODE ADDRESS : 185 CORWIN STREET
03 CITY : SAN FRANCISCO
STATE/ZIP : CA 94114
MORTGAGE AMOUNT : 503,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 502,412.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,432.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007679202 MORTGAGORS: SUSSEL LORI
LATHROP JOHN-CHARLES
REGION CODE ADDRESS : 2095 15TH AVENUE
03 CITY : SAN FRANCISCO
STATE/ZIP : CA 94116
MORTGAGE AMOUNT : 276,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,768.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,913.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.40000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.40000 PRODUCT CODE : 002
LTV : 70.87100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,533,600.00
P & I AMT: 10,547.92
UPB AMT: 1,530,444.24
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 6
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007679251 MORTGAGORS: SANTHA IMRE
SANTHA THERESA
REGION CODE ADDRESS : 1446 CALLE YUCCA
03 CITY : THOUSAND OAKS
STATE/ZIP : CA 91360
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,272.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,304.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.55000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.55000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007679269 MORTGAGORS: DADDARIO STEVE
DADDARIO DAWN
REGION CODE ADDRESS : 6331 CESSNA CT
03 CITY : SAN JOSE
STATE/ZIP : CA 95123
MORTGAGE AMOUNT : 281,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,232.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,955.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.45000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.45000 PRODUCT CODE : 002
LTV : 70.25000
----------------------------------------------------------------
0 0007679319 MORTGAGORS: NORMAN BRENT
NORMAN KAREN
REGION CODE ADDRESS : 550 GREY GHOST COURT
03 CITY : MORGAN HILL
STATE/ZIP : CA 95037
MORTGAGE AMOUNT : 440,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 439,052.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,137.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.70000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.70000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007679343 MORTGAGORS: SCALES FRANK
SCALES ROSALIE
REGION CODE ADDRESS : 747 BELL RUSSELL WAY
03 CITY : SACRAMENTO
STATE/ZIP : CA 95831
MORTGAGE AMOUNT : 295,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,057.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,098.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.65000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.65000 PRODUCT CODE : 002
LTV : 79.91800
----------------------------------------------------------------
0 0007679368 MORTGAGORS: ALOSI ANTHONY
ALOSI PHILIP
REGION CODE ADDRESS : 17745 CASA LANE
03 CITY : MORGAN HILL
STATE/ZIP : CA 95037
MORTGAGE AMOUNT : 277,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 276,366.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,917.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.40000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.40000 PRODUCT CODE : 002
LTV : 69.77300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,621,700.00
P & I AMT: 11,412.83
UPB AMT: 1,617,981.29
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 7
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007679376 MORTGAGORS: RIOS JAVIER
RIOS IRMA
REGION CODE ADDRESS : 26980 ABBEY GLEN DRIVE
03 CITY : YORBA LINDA
STATE/ZIP : CA 92887
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 498,787.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,360.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.10000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.10000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007679384 MORTGAGORS: DOOR THOMAS
DOOR JOYCE
REGION CODE ADDRESS : 3128 MONTEREY STREET
03 CITY : SAN MATEO
STATE/ZIP : CA 94403
MORTGAGE AMOUNT : 348,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 347,220.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,433.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.09000
----------------------------------------------------------------
0 0007679426 MORTGAGORS: BUSTOS ALBERTO
BUSTOS BERNADETTE
REGION CODE ADDRESS : 291 MORAGA WAY
03 CITY : SAN JOSE
STATE/ZIP : CA 95119
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,390.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,901.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 77.71400
----------------------------------------------------------------
0 0007679434 MORTGAGORS: SELIGMAN CYNTHIA
CHANDLER CYRIL
REGION CODE ADDRESS : 648 CHELHAM WAY
03 CITY : SANTA BARBARA
STATE/ZIP : CA 93108
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,242.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,228.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.30000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.30000 PRODUCT CODE : 002
LTV : 75.58100
----------------------------------------------------------------
0 0007679459 MORTGAGORS: COAKLEY CHRISTOPHER
COAKLEY PATRICIA
REGION CODE ADDRESS : 20073 BEATTY RIDGE ROAD
03 CITY : LOS GATOS
STATE/ZIP : CA 95033
MORTGAGE AMOUNT : 410,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 408,829.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,796.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 78.84600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,855,000.00
P & I AMT: 12,720.34
UPB AMT: 1,850,469.76
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 8
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007679681 MORTGAGORS: CHEN GRACE
REGION CODE ADDRESS : 1868 CAMPBELL AVENUE
03 CITY : CAMPBELL
STATE/ZIP : CA 95008
MORTGAGE AMOUNT : 510,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 508,868.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,583.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.55000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.55000 PRODUCT CODE : 002
LTV : 54.25500
----------------------------------------------------------------
0 0007680754 MORTGAGORS: JONES GERALD
REGION CODE ADDRESS : 40995 THUNDERBIRD ROAD
03 CITY : RANCHO MIRAGE
STATE/ZIP : CA 92270
MORTGAGE AMOUNT : 567,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 566,215.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,948.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.45000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.45000 PRODUCT CODE : 002
LTV : 37.09100
----------------------------------------------------------------
0 0007683733 MORTGAGORS: KRZYSKO MARK
KRZYSKO NINA
REGION CODE ADDRESS : 4520 TULIP WAY
01 CITY : ELLICOTT CITY
STATE/ZIP : MD 21043
MORTGAGE AMOUNT : 260,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,300.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,801.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.98600
----------------------------------------------------------------
0 0007683790 MORTGAGORS: ANTHONY BASCOM
ANTHONY MARIETTA
REGION CODE ADDRESS : 9412 WINTERSET DRIVE
01 CITY : POTOMAC
STATE/ZIP : MD 20854
MORTGAGE AMOUNT : 318,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 318,013.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,199.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.83300
----------------------------------------------------------------
0 0007683980 MORTGAGORS: JONES MARTIN
JONES VALERIE
REGION CODE ADDRESS : 1409 STEPNEY ROAD
01 CITY : ANNAPOLIS
STATE/ZIP : MD 21401
MORTGAGE AMOUNT : 299,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 298,576.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,142.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.73300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,955,900.00
P & I AMT: 13,675.97
UPB AMT: 1,951,975.69
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 9
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007684574 MORTGAGORS: ZINN MATTHEW
ZINN LENORE
REGION CODE ADDRESS : 5014 WARREN STREET, N.W.
01 CITY : WASHINGTON
STATE/ZIP : DC 20016
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,217.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,410.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 51.28200
----------------------------------------------------------------
0 0007687700 MORTGAGORS: HUDSON EARNEST
KINGSBERG-HUDSO LINDA
REGION CODE ADDRESS : 5711 HOBACK GLEN ROAD
02 CITY : HIDDEN HILLS
STATE/ZIP : CA 91302
MORTGAGE AMOUNT : 875,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 873,135.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 6,268.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 015
LTV : 70.00000
----------------------------------------------------------------
0 0007687833 MORTGAGORS: LARSEN DONALD
HOVANESSIAN LINDA
REGION CODE ADDRESS : 5110 EARL DRIVE
02 CITY : LA CANADA FLINTRIDGE AREA
STATE/ZIP : CA 91011
MORTGAGE AMOUNT : 752,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 750,880.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 5,258.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007687932 MORTGAGORS: JONAS MARTIN
JONAS LINDA
REGION CODE ADDRESS : 389 CHARLES STREET
02 CITY : E. WILLISTO
STATE/ZIP : NY 11596
MORTGAGE AMOUNT : 255,721.20 OPTION TO CONVERT :
UNPAID BALANCE : 254,516.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,942.39 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 10/01/25
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 69.67800
----------------------------------------------------------------
0 0007687981 MORTGAGORS: TERUYA STEVEN
TERUYA GLADYS
REGION CODE ADDRESS : 95087 WAIKALANI DR
02 CITY : MILILANI
STATE/ZIP : HI 96789
MORTGAGE AMOUNT : 317,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 315,705.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,216.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 59.81100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,699,721.20
P & I AMT: 19,096.49
UPB AMT: 2,693,455.19
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 10
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007687999 MORTGAGORS: OLINGER ALLEN
OLINGER DEBORAH
REGION CODE ADDRESS : 16 MORRIS DRIVE
02 CITY : PRINCETON
STATE/ZIP : NJ 08540
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 376,226.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,433.19 OUTSIDE CONV DATE :
LIFETIME RATE : 6.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007688005 MORTGAGORS: IODICE ARTHUR
IODICE CINDY
REGION CODE ADDRESS : 6333 SW 104 STREET
02 CITY : VILLAGE OF PINECREST
STATE/ZIP : FL 33156
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,797.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,896.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/27
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007688021 MORTGAGORS: CALFIN CARL
CALFIN MARSHA
REGION CODE ADDRESS : 6190 KELTY WAY
02 CITY : LAKE WORTH
STATE/ZIP : FL 33467
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 317,496.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,320.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 10/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007688047 MORTGAGORS: WEINGARTEN BENJAMIN
WEINGARTEN SUSAN
REGION CODE ADDRESS : 37 RHODE ISLAND
02 CITY : IRVINE
STATE/ZIP : CA 92606
MORTGAGE AMOUNT : 286,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,766.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,926.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.80200
----------------------------------------------------------------
0 0007688070 MORTGAGORS: HERDRICH WILLIAM
HERDRICH MICHELLE
REGION CODE ADDRESS : 12 LAS BALAS
02 CITY : RANCHO SANTA MARGARITA
STATE/ZIP : CA 92688
MORTGAGE AMOUNT : 297,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,317.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,051.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 94.88700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,551,000.00
P & I AMT: 10,628.46
UPB AMT: 1,540,605.11
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 11
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007688096 MORTGAGORS: EWERT PAUL
REGION CODE ADDRESS : 5800 MCCALL DRIVE
02 CITY : PLANO
STATE/ZIP : TX 75093
MORTGAGE AMOUNT : 532,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 530,596.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,633.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 04/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.74500
----------------------------------------------------------------
0 0007688104 MORTGAGORS: CALLAS G
CALLAS DEBORAH
REGION CODE ADDRESS : 3125 DENTON PLACE
02 CITY : ROSWELL
STATE/ZIP : GA 30075
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,788.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,021.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 12/01/27
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 70.47200
----------------------------------------------------------------
0 0007688195 MORTGAGORS: MARTIN RONNIE
MARTIN LEESA
REGION CODE ADDRESS : 2864 NE 26TH PLACE
02 CITY : FT LAUDERDALE
STATE/ZIP : FL 33306
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,644.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,789.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 02/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007688252 MORTGAGORS: LANGSTON AMELIA
HORAN MARY
REGION CODE ADDRESS : 1278 N MORNINGSIDE DR
02 CITY : ATLANTA
STATE/ZIP : GA 30306
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,462.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,773.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 02/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007688310 MORTGAGORS: STAAV JACK
STAAV SIMA
REGION CODE ADDRESS : 5123 VIA ANGELINA
02 CITY : YORBA LINDA
STATE/ZIP : CA 92886
MORTGAGE AMOUNT : 265,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,376.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,807.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 73.61111
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,613,700.00
P & I AMT: 11,026.54
UPB AMT: 1,605,869.54
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 12
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007688344 MORTGAGORS: FOWLER THOMAS
FOWLER PAULA
REGION CODE ADDRESS : 5445 REDSTONE TERRACE
02 CITY : DUNWOODY
STATE/ZIP : GA 30338
MORTGAGE AMOUNT : 271,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,508.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,854.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 03/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007688377 MORTGAGORS: PRIGMORE JAMES
PRIGMORE VALERIE
REGION CODE ADDRESS : 3126 LOMITA COURT
02 CITY : FAIRFIELD
STATE/ZIP : CA 94533
MORTGAGE AMOUNT : 341,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,896.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,297.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.77700
----------------------------------------------------------------
0 0007688468 MORTGAGORS: LANGSTAFF GARY
LANGSTAFF CLAUDIA
REGION CODE ADDRESS : 29950 EMERALD MEADOWS DRIVE
02 CITY : STEAMBOAT SPRINGS
STATE/ZIP : CO 80477
MORTGAGE AMOUNT : 829,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 827,238.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 6,083.28 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 8.00000 PRODUCT CODE : 015
LTV : 46.05800
----------------------------------------------------------------
0 0007688625 MORTGAGORS: TADEWALDT GORDON
REGION CODE ADDRESS : 9200 BOWEN CENTERS ROAD
02 CITY : YREKA
STATE/ZIP : CA 96097
MORTGAGE AMOUNT : 432,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 430,768.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,094.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007688724 MORTGAGORS: CHAMBERS DONALD
SIPLER MARIAN
REGION CODE ADDRESS : 12411 NW 19 PLACE
02 CITY : CORAL SPRINGS
STATE/ZIP : FL 33071
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,363.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,985.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,157,850.00
P & I AMT: 15,315.51
UPB AMT: 2,151,775.86
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 13
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007688732 MORTGAGORS: CUMPTON DAVID
CUMPTON SHERRY
REGION CODE ADDRESS : 8208 EAST COUNTY DRIVE
02 CITY : EL CAJON
STATE/ZIP : CA 92021
MORTGAGE AMOUNT : 250,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,725.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,728.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 94.98500
----------------------------------------------------------------
0 0007688740 MORTGAGORS: HENDERSON FREDERICK
HENDERSON KAREN
REGION CODE ADDRESS : 2582 KENT RIDGE CT
02 CITY : BLOOMFIELD
STATE/ZIP : MI 48301
MORTGAGE AMOUNT : 982,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 980,705.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 7,040.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 015
LTV : 75.02300
----------------------------------------------------------------
0 0007688781 MORTGAGORS: CHRISTON RONALD
CHRISTON LESLIE
REGION CODE ADDRESS : 6409 STONEBROOK CIRCLE
02 CITY : PLANO
STATE/ZIP : TX 75093
MORTGAGE AMOUNT : 484,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 482,549.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,384.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.82700
----------------------------------------------------------------
0 0007688831 MORTGAGORS: PARKER JOHN
PARKER DELORES
REGION CODE ADDRESS : 505 BALBOA DRIVE
02 CITY : IRVING
STATE/ZIP : TX 75062
MORTGAGE AMOUNT : 233,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 232,600.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,631.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 94.99100
----------------------------------------------------------------
0 0007688989 MORTGAGORS: FIERMAN LAWRENCE
REGION CODE ADDRESS : 36 CONCORD SQUARE, B,
02 CITY : BOSTON
STATE/ZIP : MA 02118
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,411.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,705.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 56.81800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,200,400.00
P & I AMT: 15,490.58
UPB AMT: 2,194,992.62
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 14
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007689078 MORTGAGORS: WHITLEY SCOTT
WHITLEY CATHIE
REGION CODE ADDRESS : 618 RADNOR VALLEY DRIVE
02 CITY : VILLANOVA
STATE/ZIP : PA 19085
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,393.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,823.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007689102 MORTGAGORS: GALLARDO VICTOR
GALLARDO CHRISTINE
REGION CODE ADDRESS : 505 & 507 SHELDON STREET
02 CITY : EL SEGUNDO
STATE/ZIP : CA 90245
MORTGAGE AMOUNT : 316,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 315,717.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,105.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 73.60400
----------------------------------------------------------------
0 0007689185 MORTGAGORS: ALFRED STEPHEN
HUNGATE RITA
REGION CODE ADDRESS : 955 MANCHESTER PLACE
02 CITY : ATLANTA
STATE/ZIP : GA 30328
MORTGAGE AMOUNT : 396,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 395,020.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,634.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007689276 MORTGAGORS: BECK JAMES
BECK DENISE
REGION CODE ADDRESS : 4112 RUSKIN STREET
02 CITY : HOUSTON
STATE/ZIP : TX 77005
MORTGAGE AMOUNT : 341,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,501.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,672.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 06/01/18
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.45800
----------------------------------------------------------------
0 0007689284 MORTGAGORS: LEON ALEXANDER
LEON JACQUE
REGION CODE ADDRESS : 4540 SHADY OAK WAY
02 CITY : FAIR OAKS
STATE/ZIP : CA 95628
MORTGAGE AMOUNT : 362,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 361,188.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,531.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 89.38200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,679,950.00
P & I AMT: 11,767.78
UPB AMT: 1,674,821.97
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 15
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007689292 MORTGAGORS: STARRETT CYNTHIA
REGION CODE ADDRESS : 2004 SE 26TH TERRACE
02 CITY : FORT LAUDERDALE
STATE/ZIP : FL 33316
MORTGAGE AMOUNT : 253,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,231.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,774.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007689326 MORTGAGORS: ANDRION MICHAEL
ANDRION DIANE
REGION CODE ADDRESS : 4151 REGAL COURT
02 CITY : SAN JOSE
STATE/ZIP : CA 95132
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,424.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,934.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007689557 MORTGAGORS: PETERSON H
PETERSON JOYCE
REGION CODE ADDRESS : 14002 EL CAMINO REAL
02 CITY : ATASCADERO
STATE/ZIP : CA 93422
MORTGAGE AMOUNT : 252,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,229.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,785.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 76.42400
----------------------------------------------------------------
0 0007689805 MORTGAGORS: LITWIN SANDRA
REGION CODE ADDRESS : 23966 WANIGAN WAY
02 CITY : LAGUNA NIGUEL
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,582.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,042.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/18
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 69.18900
----------------------------------------------------------------
0 0007689920 MORTGAGORS: HOHLT RICHARD
REGION CODE ADDRESS : 7901 KENT ROAD
02 CITY : ALEXANDRIA
STATE/ZIP : VA 22308
MORTGAGE AMOUNT : 600,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 598,655.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,195.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 60.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,632,000.00
P & I AMT: 11,732.08
UPB AMT: 1,627,124.61
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 16
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007689979 MORTGAGORS: GLEASON TERRENCE
GLEASON LISA
REGION CODE ADDRESS : 2120 EAGLE DRIVE
02 CITY : LAKE HAVASU
STATE/ZIP : AZ 86406
MORTGAGE AMOUNT : 295,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,313.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,967.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 94.99000
----------------------------------------------------------------
0 0007689987 MORTGAGORS: THOMPSON M
REGION CODE ADDRESS : 335 HILLSIDE DRIVE NW
02 CITY : ATLANTA
STATE/ZIP : GA 30342
MORTGAGE AMOUNT : 383,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 382,996.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,618.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99500
----------------------------------------------------------------
0 0007690035 MORTGAGORS: MARINKOVSKI SLAVKO
MARINKOVSKI POLIKSENA
REGION CODE ADDRESS : 7089 WARNER ROAD
02 CITY : SALINE
STATE/ZIP : MI 48176
MORTGAGE AMOUNT : 262,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,638.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,899.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 74.85714
----------------------------------------------------------------
0 0007690043 MORTGAGORS: HESTON JENNIFER
HESTON RONALD
REGION CODE ADDRESS : 7102 MONTICELLO PARKWAY
02 CITY : COLLEYVILLE
STATE/ZIP : TX 76034
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,642.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,678.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007690274 MORTGAGORS: RUIZ ALFONSO
RUIZ AMELIA
REGION CODE ADDRESS : 4037 DREXWL
02 CITY : TROY
STATE/ZIP : MI 48084
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,607.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,059.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,465,700.00
P & I AMT: 10,223.86
UPB AMT: 1,463,198.43
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 17
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007690597 MORTGAGORS: GAGE CHARLES
GAGE GALE
REGION CODE ADDRESS : 38 SILVERCREST DRIVE
02 CITY : TINTON FALL
STATE/ZIP : NJ 07724
MORTGAGE AMOUNT : 257,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,957.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,777.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.98500
----------------------------------------------------------------
0 0007690605 MORTGAGORS: MOREAU RICHARD
MOREAU L
REGION CODE ADDRESS : 31595 NORTH RIVER RD
02 CITY : HARRISON TWP
STATE/ZIP : MI 48045
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,610.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,896.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 65.36500
----------------------------------------------------------------
0 0007690621 MORTGAGORS: GAUSS STEVEN
GOLD-GAUSS ALISON
REGION CODE ADDRESS : 402 DAVENPORT LOOP
02 CITY : BRECKENRIDGE
STATE/ZIP : CO 80424
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,422.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 55.65200
----------------------------------------------------------------
0 0007690639 MORTGAGORS: CIANI-SMITH JUDITH
SMITH MARION
REGION CODE ADDRESS : 100 STIRLING WAY
02 CITY : INVERNESS
STATE/ZIP : CA 94937
MORTGAGE AMOUNT : 420,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 418,894.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,759.11 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0007693849 MORTGAGORS: STOCKFISCH THOMAS
EBNER GAIL
REGION CODE ADDRESS : 2336 CANYON RD
01 CITY : ESCONDIDO
STATE/ZIP : CA 92026
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,189.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,935.06 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 89.88700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,665,350.00
P & I AMT: 11,606.01
UPB AMT: 1,662,074.77
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 18
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007693872 MORTGAGORS: FADA ROBERT
FADA KAREN
REGION CODE ADDRESS : 8124 CAMPDEN LAKES BLVD
01 CITY : DUBLIN
STATE/ZIP : OH 43017
MORTGAGE AMOUNT : 432,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 430,787.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,058.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 94.99700
----------------------------------------------------------------
0 0007693880 MORTGAGORS: JONES SULKOUS
JONES LOLA
REGION CODE ADDRESS : 105 FLAG CREEK RD
01 CITY : YORKTOWN
STATE/ZIP : VA 23692
MORTGAGE AMOUNT : 302,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 301,527.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,060.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 70.23200
----------------------------------------------------------------
0 0007693906 MORTGAGORS: DUMAS ELLIS
CASTERLINE BARBARA
REGION CODE ADDRESS : 6357 N POWDERHORN RD
01 CITY : MECHANICSBURG
STATE/ZIP : PA 17055
MORTGAGE AMOUNT : 322,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 321,478.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,252.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 89.50000
----------------------------------------------------------------
0 0007693914 MORTGAGORS: STRICKLAND KENNETH
REGION CODE ADDRESS : 118 WOODS END
01 CITY : HUNTSVILLE
STATE/ZIP : AL 35806
MORTGAGE AMOUNT : 277,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 276,776.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,914.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007693930 MORTGAGORS: HOLMBERG PETER
HOLMBERG MARILYN
REGION CODE ADDRESS : 794 STOCKBRIDGE RD
01 CITY : CHARLOTTE
STATE/ZIP : VT 05445
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,695.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,762.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 55.67100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,733,450.00
P & I AMT: 12,048.35
UPB AMT: 1,730,265.16
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 19
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007693948 MORTGAGORS: HEIM RONALD
GRIFFITH RENEE
REGION CODE ADDRESS : 5187 SILVER MOUNTAIN WY
01 CITY : RANCHO CUCAMONGA
STATE/ZIP : CA 91737
MORTGAGE AMOUNT : 247,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,473.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,769.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007693955 MORTGAGORS: BURROWS REX
GRAWUNDER GRETCHEN
REGION CODE ADDRESS : 289 VIRGINIA PL
01 CITY : COSTA MESA
STATE/ZIP : CA 92627
MORTGAGE AMOUNT : 280,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,286.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,937.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 76.84900
----------------------------------------------------------------
0 0007693963 MORTGAGORS: HANSON KIM
HANSON SARA
REGION CODE ADDRESS : 1886 FALCON RIDGE DR
01 CITY : PETALUMA
STATE/ZIP : CA 94954
MORTGAGE AMOUNT : 291,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,020.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,939.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.98600
----------------------------------------------------------------
0 0007693971 MORTGAGORS: WEAVER REGINA
REGION CODE ADDRESS : 19864 JOHN DR
01 CITY : CASTRO VALLEY
STATE/ZIP : CA 94546
MORTGAGE AMOUNT : 248,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,410.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,717.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.98100
----------------------------------------------------------------
0 0007693989 MORTGAGORS: DAVIS RICHARD
DAVIS LIZABETH
REGION CODE ADDRESS : 17207 AMARILLO ROAD
01 CITY : RAMONA
STATE/ZIP : CA 92065
MORTGAGE AMOUNT : 361,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 360,191.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,524.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.89300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,428,600.00
P & I AMT: 9,887.44
UPB AMT: 1,426,382.95
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 20
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007693997 MORTGAGORS: CONTRA BENJAMIN
CONTRA ANITA
REGION CODE ADDRESS : 5756 BROOKSTONE DR
01 CITY : CINCINNATI
STATE/ZIP : OH 45230
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,523.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.01200
----------------------------------------------------------------
0 0007694003 MORTGAGORS: HERRIN GARY
HERRIN LOIS
REGION CODE ADDRESS : 3401 OAKLEAF LN
01 CITY : RICHARDSON
STATE/ZIP : TX 75082
MORTGAGE AMOUNT : 322,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 321,508.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,223.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.99900
----------------------------------------------------------------
0 0007694011 MORTGAGORS: SPERDUTI ARMAND
SPERDUTI NANCY
REGION CODE ADDRESS : 5030 N POST TR
01 CITY : TUCSON
STATE/ZIP : AZ 85750
MORTGAGE AMOUNT : 246,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,142.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,744.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 74.69600
----------------------------------------------------------------
0 0007694037 MORTGAGORS: PRICE DAVID
PRICE CHERYL
REGION CODE ADDRESS : 2167 LORDS LNDG
01 CITY : VA BEACH
STATE/ZIP : VA 23454
MORTGAGE AMOUNT : 274,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,285.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,872.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007694052 MORTGAGORS: FLIEGEL TODD
PARKER LISA
REGION CODE ADDRESS : 705 FRANKLIN TURNPIKE
01 CITY : ALLENDALE
STATE/ZIP : NJ 07401
MORTGAGE AMOUNT : 251,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,700.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,778.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 94.99000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,414,250.00
P & I AMT: 9,857.11
UPB AMT: 1,412,160.84
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 21
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007694060 MORTGAGORS: D'ALIA FRANK
D'ALIA SARAH
REGION CODE ADDRESS : 30 GREY AVENUE
01 CITY : ALLENDALE
STATE/ZIP : NJ 07401
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,752.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,507.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 89.74300
----------------------------------------------------------------
0 0007694078 MORTGAGORS: STEWART THEODORE
REGION CODE ADDRESS : 36 TENAFLY ROAD
01 CITY : TENAFLY
STATE/ZIP : NJ 07670
MORTGAGE AMOUNT : 322,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 321,983.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,364.19 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007694094 MORTGAGORS: BENES LARRY
BENES STACIE
REGION CODE ADDRESS : 4022 WARREN ST NW
01 CITY : WASHINGTON
STATE/ZIP : DC 20016
MORTGAGE AMOUNT : 282,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,265.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,198.04 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 76.37800
----------------------------------------------------------------
0 0007694110 MORTGAGORS: LEAO BEN
RANGEL-LEAO ANA MARIE
REGION CODE ADDRESS : 2805 STRATHMORE DRIVE
01 CITY : ALPHARETTA
STATE/ZIP : GA 30041
MORTGAGE AMOUNT : 381,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 381,086.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,735.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007694136 MORTGAGORS: SHAHINIAN JOHN
REGION CODE ADDRESS : 1909 BENHURST PL
01 CITY : MAITLAND
STATE/ZIP : FL 32751
MORTGAGE AMOUNT : 313,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 312,743.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,082.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 78.64300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,649,700.00
P & I AMT: 11,888.06
UPB AMT: 1,647,831.46
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 22
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007694144 MORTGAGORS: HANLON CARL
HANLON MARY
REGION CODE ADDRESS : 8724 EWING DRIVE
01 CITY : BETHESDA
STATE/ZIP : MD 20817
MORTGAGE AMOUNT : 259,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,804.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,790.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007694151 MORTGAGORS: MORGANSTEIN STEVEN
MORGANSTEIN PHYLANNE
REGION CODE ADDRESS : 5856 FOX ST
01 CITY : HARRISBURG
STATE/ZIP : PA 17112
MORTGAGE AMOUNT : 254,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,311.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,759.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007694169 MORTGAGORS: ROSENFELD LAURENCE
ROSENFELD JUDITH
REGION CODE ADDRESS : 9924 POTOMAC MANOR DR
01 CITY : POTOMAC
STATE/ZIP : MD 20854
MORTGAGE AMOUNT : 875,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 874,350.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 6,118.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 015
LTV : 70.00000
----------------------------------------------------------------
0 0007694177 MORTGAGORS: HART EVERETT
HART PATRICIA
REGION CODE ADDRESS : 13529 HADDONFIELD LN
01 CITY : DARNESTOWN
STATE/ZIP : MD 20878
MORTGAGE AMOUNT : 403,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 402,520.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,648.74 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.05800
----------------------------------------------------------------
0 0007694185 MORTGAGORS: SELWOOD JAMES
SELWOOD JULIA
REGION CODE ADDRESS : 13016 MEADOW VIEW DR
01 CITY : DARNESTOWN
STATE/ZIP : MD 20878
MORTGAGE AMOUNT : 282,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,885.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,948.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 81.76800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,074,200.00
P & I AMT: 14,264.65
UPB AMT: 2,071,872.04
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 23
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007694193 MORTGAGORS: HARTUNG JOHN
HARTUNG KATHLEEN
REGION CODE ADDRESS : 30176 HILLSIDE TER
01 CITY : SAN JUAN CAPISTRANO
STATE/ZIP : CA 92675
MORTGAGE AMOUNT : 365,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 364,161.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,520.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 49.32400
----------------------------------------------------------------
0 0007694201 MORTGAGORS: PICAZO JOSE
PICAZO TERRI
REGION CODE ADDRESS : 155 LAKEN CT
01 CITY : WATSONVILLE
STATE/ZIP : CA 95076
MORTGAGE AMOUNT : 256,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,188.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,972.27 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007694219 MORTGAGORS: BLANCHARD ROGER
BLANCHARD SHERIE
REGION CODE ADDRESS : 6248 SUNSTONE AVE
01 CITY : RANCHO CUCAMONGA
STATE/ZIP : CA 91701
MORTGAGE AMOUNT : 235,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,406.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,567.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 89.58100
----------------------------------------------------------------
0 0007694227 MORTGAGORS: JEPPSSON JORGEN
REGION CODE ADDRESS : 564 S BUNKER HILL RD
01 CITY : COLFOX
STATE/ZIP : NC 27235
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,358.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,694.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 70.17500
----------------------------------------------------------------
0 0007694235 MORTGAGORS: LEUNG TAK
REGION CODE ADDRESS : 454 SANDHURST DR
01 CITY : MILPITAS
STATE/ZIP : CA 95035
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,612.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,817.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,517,100.00
P & I AMT: 10,573.54
UPB AMT: 1,514,727.84
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 24
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007694243 MORTGAGORS: SKEELS DAVID
SKEELS JENNIFER
REGION CODE ADDRESS : 6530 COTTON CREEK COURT
01 CITY : INDIANAPOLIS
STATE/ZIP : IN 46278
MORTGAGE AMOUNT : 332,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,493.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,293.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.80700
----------------------------------------------------------------
0 0007694250 MORTGAGORS: FARMER MICHAEL
FARMER ROBERTA
REGION CODE ADDRESS : 12233 BRIDGEWATER ROAD
01 CITY : INDIANAPOLIS
STATE/ZIP : IN 46256
MORTGAGE AMOUNT : 393,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 392,400.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,714.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 65.50000
----------------------------------------------------------------
0 0007694268 MORTGAGORS: LEE SUN
REGION CODE ADDRESS : 108 PALISADES DRIVE
01 CITY : FREEHOLD
STATE/ZIP : NJ 07728
MORTGAGE AMOUNT : 374,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 374,241.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,620.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.99100
----------------------------------------------------------------
0 0007694276 MORTGAGORS: LORA DOUGLAS
LORA JONI
REGION CODE ADDRESS : 191 MAPLE DRIVE
01 CITY : LOS ALAMOS
STATE/ZIP : NM 87544
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,627.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,685.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 59.51200
----------------------------------------------------------------
0 0007694292 MORTGAGORS: KENNICOTT MICHAEL
KENNICOTT KARLA
REGION CODE ADDRESS : 219 N. EL RANCHO ROAD
01 CITY : SANTA FE
STATE/ZIP : NM 87501
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,633.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,657.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,583,800.00
P & I AMT: 10,970.95
UPB AMT: 1,581,396.37
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 25
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007694318 MORTGAGORS: NAIFEH DANNY
REGION CODE ADDRESS : 256 JOLENE CT
01 CITY : PARAMUS
STATE/ZIP : NJ 07652
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,758.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,272.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 65.00000
----------------------------------------------------------------
0 0007694326 MORTGAGORS: CHASE RANDALL
CHASE PAMELA
REGION CODE ADDRESS : 2970 KING JAMES DR.
01 CITY : BEAVERCREEK
STATE/ZIP : OH 45432
MORTGAGE AMOUNT : 245,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,134.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,716.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0007694334 MORTGAGORS: MILLER EILEEN
REGION CODE ADDRESS : 1 EVES LN
01 CITY : HADDONFIELD
STATE/ZIP : NJ 08033
MORTGAGE AMOUNT : 333,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 332,649.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,389.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007694342 MORTGAGORS: COTTRELL RONALD
COTTRELL CHERYL
REGION CODE ADDRESS : 93 YAPLES ORCHARD DR
01 CITY : CHILLICOTHE
STATE/ZIP : OH 45601
MORTGAGE AMOUNT : 259,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,596.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,788.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 88.24500
----------------------------------------------------------------
0 0007694367 MORTGAGORS: HODSON PETER
LORD CATHERINE
REGION CODE ADDRESS : 300 LANTERN WAY
01 CITY : SEWELL
STATE/ZIP : NJ 08080
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,255.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,496.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.49200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,663,100.00
P & I AMT: 11,663.92
UPB AMT: 1,660,394.60
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 26
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007694383 MORTGAGORS: HERRMANN KEVIN
HERRMANN TERESA
REGION CODE ADDRESS : 3201 CLYMER DR
01 CITY : PLANO
STATE/ZIP : TX 75025
MORTGAGE AMOUNT : 260,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,002.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,797.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 72.27700
----------------------------------------------------------------
0 0007694391 MORTGAGORS: SIMPSON JAMES
SIMPSON MARY
REGION CODE ADDRESS : 13207 HUGHES CR
01 CITY : DALLAS
STATE/ZIP : TX 75240
MORTGAGE AMOUNT : 255,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,990.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,697.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 72.91400
----------------------------------------------------------------
0 0007694409 MORTGAGORS: SHAYON DIANA
REGION CODE ADDRESS : 1108 WAVERLY RD
01 CITY : GLADWYNE
STATE/ZIP : PA 19035
MORTGAGE AMOUNT : 638,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 637,450.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,138.06 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 73.84200
----------------------------------------------------------------
0 0007694417 MORTGAGORS: THOMPSON SHARRON
REGION CODE ADDRESS : 177 SADDLEBROOK DRIVE
01 CITY : JACKSON
STATE/ZIP : TN 38305
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,811.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,712.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 84.93100
----------------------------------------------------------------
0 0007694425 MORTGAGORS: JOHNSON BILLY
JOHNSON D'ANN
REGION CODE ADDRESS : 1383 DOE VALLEY DRIVE
01 CITY : LITHONIA
STATE/ZIP : GA 30058
MORTGAGE AMOUNT : 270,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,299.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,891.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 84.53100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,671,900.00
P & I AMT: 11,237.32
UPB AMT: 1,670,554.05
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 27
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007694433 MORTGAGORS: NEW SHERRI
REGION CODE ADDRESS : 1752 MILLSIDE DRIVE
01 CITY : SMYRNA
STATE/ZIP : GA 30080
MORTGAGE AMOUNT : 257,355.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,008.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,888.38 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 94.81600
----------------------------------------------------------------
0 0007694441 MORTGAGORS: SEELIG ROBERT
SEELIG DOROTHY
REGION CODE ADDRESS : 520 S URBANA LISBON RD
01 CITY : SOUTH VIENNA
STATE/ZIP : OH 45369
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,790.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,899.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 72.36800
----------------------------------------------------------------
0 0007694466 MORTGAGORS: FULCHIERO RANDALL
FULCHIERO CHRYSA
REGION CODE ADDRESS : 1324 WOODSTOCK DR
01 CITY : DAYTON
STATE/ZIP : OH 45419
MORTGAGE AMOUNT : 292,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,264.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,046.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.10100
----------------------------------------------------------------
0 0007694474 MORTGAGORS: MCCARTHY RICHARD
MCCARTHY JEAN
REGION CODE ADDRESS : 4432 NORTH LANE
01 CITY : DEL MAR
STATE/ZIP : CA 92014
MORTGAGE AMOUNT : 649,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 648,033.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,537.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.17100
----------------------------------------------------------------
0 0007694482 MORTGAGORS: HOWE MARGARET
REGION CODE ADDRESS : 425 SANTA DOMINGA
01 CITY : SOLANA BEACH
STATE/ZIP : CA 92075
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,563.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,206.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 41.06600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,782,055.00
P & I AMT: 12,578.81
UPB AMT: 1,779,660.92
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 28
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007694490 MORTGAGORS: DURAN THOMAS
DURAN WENDY
REGION CODE ADDRESS : 1221 PLEIADES DR
01 CITY : VISTA
STATE/ZIP : CA 92084
MORTGAGE AMOUNT : 336,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,731.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,263.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007694508 MORTGAGORS: BLOOM ALLEN
BLOOM SUSAN
REGION CODE ADDRESS : 9901 MERIDEN ROAD
01 CITY : POTOMAC
STATE/ZIP : MD 20854
MORTGAGE AMOUNT : 649,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 648,982.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,544.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 49.99600
----------------------------------------------------------------
0 0007694516 MORTGAGORS: MURPHY JAMES
MURPHY LISA
REGION CODE ADDRESS : 617 HAMPSHIRE CT
01 CITY : CARMEL
STATE/ZIP : IN 46032
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,777.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007694524 MORTGAGORS: BOTT CHRISTOPHER
BOTT CHRISTINE
REGION CODE ADDRESS : 8670 THE 5TH GREEN
01 CITY : ATLANTA
STATE/ZIP : GA 30350
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,629.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,943.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007694532 MORTGAGORS: FURR BRYAN
FURR TAYLOR
REGION CODE ADDRESS : 1404 CRAVENS CREEK LN SW
01 CITY : ROANOKE
STATE/ZIP : VA 24018
MORTGAGE AMOUNT : 236,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,208.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,650.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.19400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,789,950.00
P & I AMT: 12,499.24
UPB AMT: 1,787,329.18
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 29
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007694540 MORTGAGORS: CHRISTEN KIMBERLY
VIVIER JEAN-LUC
REGION CODE ADDRESS : 3330 DENT PL NW
01 CITY : WASHINGTON
STATE/ZIP : DC 20007
MORTGAGE AMOUNT : 411,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 411,459.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,949.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007694557 MORTGAGORS: ARENTZ RICHARD
MULLINAX JEFFERY
REGION CODE ADDRESS : 3629 WINDOM PL NW
01 CITY : WASHINGTON
STATE/ZIP : DC 20008
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,571.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,013.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007694565 MORTGAGORS: FORREST DAVID
FORREST AUDREY
REGION CODE ADDRESS : 1564 QUEENS CT
01 CITY : WESTLAKE
STATE/ZIP : OH 44145
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,490.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,062.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 53.44800
----------------------------------------------------------------
0 0007694573 MORTGAGORS: NEZAR ABDELHAMID
NEZAR MIROSLAVA
REGION CODE ADDRESS : 2023 MADRILLON CREEK COURT
01 CITY : VIENNA
STATE/ZIP : VA 22182
MORTGAGE AMOUNT : 308,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 308,292.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,054.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007694599 MORTGAGORS: DAVIS SCOTT
DAVIS LISA
REGION CODE ADDRESS : 9623 CULVER ST.
01 CITY : KENSINGTON
STATE/ZIP : MD 20895
MORTGAGE AMOUNT : 269,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,579.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,835.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.72200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,587,550.00
P & I AMT: 10,915.53
UPB AMT: 1,585,392.18
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 30
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007694607 MORTGAGORS: IACIOFANO JOSEPH
IACIOFANO JULIE ANNE
REGION CODE ADDRESS : 21 BRIDLE DRIVE
01 CITY : LINCOLN
STATE/ZIP : RI 02865
MORTGAGE AMOUNT : 330,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 328,573.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,140.38 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 04/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 77.46400
----------------------------------------------------------------
0 0007694615 MORTGAGORS: SCHULTZ CATHERINE
REGION CODE ADDRESS : 806 VILLA RIDGE RD
01 CITY : FALLS CHURCH
STATE/ZIP : VA 22046
MORTGAGE AMOUNT : 324,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 323,616.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,520.04 OUTSIDE CONV DATE :
LIFETIME RATE : 8.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 8.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007694631 MORTGAGORS: DURSO DOMENICO
REGION CODE ADDRESS : 575 FOREST AVENUE
01 CITY : PARAMUS
STATE/ZIP : NJ 07652
MORTGAGE AMOUNT : 280,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,871.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,056.38 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007694649 MORTGAGORS: GABLE DAVID
GABLE JACKLYN
REGION CODE ADDRESS : 4316 OWENSBROOKE COURT
01 CITY : WEST RIVER
STATE/ZIP : MD 20778
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,750.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,182.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007694656 MORTGAGORS: BADGETT DWAYNE
BADGETT TUJUANA
REGION CODE ADDRESS : 13 CHATEAU CIR
01 CITY : MOUNT LAUREL
STATE/ZIP : NJ 08054
MORTGAGE AMOUNT : 252,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,101.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,809.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 94.99000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,506,800.00
P & I AMT: 10,709.07
UPB AMT: 1,503,912.70
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 31
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007694664 MORTGAGORS: SANQUIST BURTON
SANQUIST CINDY
REGION CODE ADDRESS : 21008 GOLF ESTATES DR
01 CITY : LAYTONSVILLE
STATE/ZIP : MD 20882
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,374.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,728.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.66900
----------------------------------------------------------------
0 0007694672 MORTGAGORS: MAJOROS MARK
MAJOROS MARY
REGION CODE ADDRESS : 12022 CREEKBEND DRIVE
01 CITY : RESTON
STATE/ZIP : VA 20914
MORTGAGE AMOUNT : 355,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 354,444.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,421.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 76.34400
----------------------------------------------------------------
0 0007694680 MORTGAGORS: COHEN MERRILL
COHEN SANDRA
REGION CODE ADDRESS : 10105 GARDEN WAY
01 CITY : POTOMAC
STATE/ZIP : MD 20854
MORTGAGE AMOUNT : 435,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 435,125.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,824.65 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 54.43700
----------------------------------------------------------------
0 0007694698 MORTGAGORS: DAVIS THOMAS
DAVIS KAREN
REGION CODE ADDRESS : 2719 SYCAMORE RIDGE CT
01 CITY : BEAVERCREEK
STATE/ZIP : OH 45431
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,818.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,706.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 77.46000
----------------------------------------------------------------
0 0007694706 MORTGAGORS: MOODY JIM
MOODY JANICE
REGION CODE ADDRESS : 5400 CHRISTY DR
01 CITY : BETHESDA
STATE/ZIP : MD 20816
MORTGAGE AMOUNT : 295,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,669.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,018.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,730,400.00
P & I AMT: 11,699.74
UPB AMT: 1,728,431.60
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 32
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007694714 MORTGAGORS: ARMSTRONG BRIAN
ARMSTRONG ROSEMARIE
REGION CODE ADDRESS : 16 ARROWHEAD WAY
01 CITY : ENGLISHTOWN
STATE/ZIP : NJ 07726
MORTGAGE AMOUNT : 253,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,466.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,795.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007694722 MORTGAGORS: HAYES JOHN
HAYES BARBARA
REGION CODE ADDRESS : 1947 CAMARGUE DR
01 CITY : ZIONSVILLE
STATE/ZIP : IN 46077
MORTGAGE AMOUNT : 348,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 348,541.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,438.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007694730 MORTGAGORS: SOKOL BEVERLEE
REGION CODE ADDRESS : 2455 BRYDEN RD
01 CITY : BEXLEY
STATE/ZIP : OH 43209
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,543.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,991.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007694755 MORTGAGORS: KALLENBERGER PRENTISS
KALLENBERGER MOLLY ANNE
REGION CODE ADDRESS : 108 SHANNON DRIVE
01 CITY : LAFAYETTE
STATE/ZIP : LA 70503
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,503.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,244.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 61.90400
----------------------------------------------------------------
0 0007694763 MORTGAGORS: CARPENTER GARY
CARPENTER ANDREA
REGION CODE ADDRESS : 29019 ANGEL FIRE DRIVE
01 CITY : FAIR OAKS RANCH
STATE/ZIP : TX 78015
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,593.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,773.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,479,450.00
P & I AMT: 10,244.51
UPB AMT: 1,477,647.61
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 33
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007694771 MORTGAGORS: MC DANIEL DONALD
DISNEY CAROL
REGION CODE ADDRESS : 42 BUCKINGHAM ROAD
01 CITY : NORTH ANDOVER
STATE/ZIP : MA 01845
MORTGAGE AMOUNT : 261,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,611.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,824.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 89.69000
----------------------------------------------------------------
0 0007694789 MORTGAGORS: ROBERTS JEFFREY
REGION CODE ADDRESS : 2740 NORTHSIDE DR
01 CITY : ATLANTA
STATE/ZIP : GA 30305
MORTGAGE AMOUNT : 476,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 475,664.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,410.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007694805 MORTGAGORS: MILLHAM PATRICK
ARIDA-MILLHAM HEIDI
REGION CODE ADDRESS : 3134 DRAWFIELD LN
01 CITY : HUNTINGTOWN
STATE/ZIP : MD 20639
MORTGAGE AMOUNT : 299,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,038.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,143.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007694821 MORTGAGORS: ROITMAN KAREN
REGION CODE ADDRESS : 1204 BOYCE AVE
01 CITY : TOWSON
STATE/ZIP : MD 21204
MORTGAGE AMOUNT : 266,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,983.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,817.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007694839 MORTGAGORS: HYERS ROBERT
HYERS DENISE
REGION CODE ADDRESS : 584A PINEWOOD DRIVE
01 CITY : ANNAPOLIS
STATE/ZIP : MD 21401
MORTGAGE AMOUNT : 232,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 231,679.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,682.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,534,650.00
P & I AMT: 10,878.44
UPB AMT: 1,532,976.94
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 34
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007694847 MORTGAGORS: BUCHTA CHRISTINE
REGION CODE ADDRESS : 9 CHICASAW DR
01 CITY : OAKLAND
STATE/ZIP : NJ 07436
MORTGAGE AMOUNT : 238,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,809.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,603.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 85.00000
----------------------------------------------------------------
0 0007694854 MORTGAGORS: WANKEL MARY
REGION CODE ADDRESS : 20939 SUNNY ACRES ROAD
01 CITY : GAITHERSBURG
STATE/ZIP : MD 20879
MORTGAGE AMOUNT : 305,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 304,921.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,083.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.48700
----------------------------------------------------------------
0 0007694862 MORTGAGORS: ROST JAMES
ROST DEBORAH
REGION CODE ADDRESS : 14836 POPLAR HILL ROAD
01 CITY : DARNESTOWN
STATE/ZIP : MD 20874
MORTGAGE AMOUNT : 382,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 381,801.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,608.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 76.48000
----------------------------------------------------------------
0 0007694870 MORTGAGORS: GORDON GEORGE
MARTIN LORI
REGION CODE ADDRESS : LOT 49 MILL POND CIR
01 CITY : MILFORD
STATE/ZIP : MA 01757
MORTGAGE AMOUNT : 251,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,524.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,761.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 89.99600
----------------------------------------------------------------
0 0007694888 MORTGAGORS: GIBLEY JOSEPH
GIBLEY TRACY
REGION CODE ADDRESS : 1 SAWMILL RD
01 CITY : GLEN MILLS
STATE/ZIP : PA 19342
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,561.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,708.02 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.01600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,437,700.00
P & I AMT: 9,764.83
UPB AMT: 1,435,619.01
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 35
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007694896 MORTGAGORS: LEITCH JOHN
REGION CODE ADDRESS : 9 BALMORAL LN
01 CITY : SCOTCH PLAINS
STATE/ZIP : NJ 07076
MORTGAGE AMOUNT : 249,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,069.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,618.26 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 76.88750
----------------------------------------------------------------
0 0007694904 MORTGAGORS: KRAUSS WILLIAM
KRAUSS CATHERINE
REGION CODE ADDRESS : 3 RENSHAW DR
01 CITY : MONTVILLE
STATE/ZIP : NJ 07045
MORTGAGE AMOUNT : 464,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 463,625.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,286.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.77600
----------------------------------------------------------------
0 0007694920 MORTGAGORS: UNGEMACH RAYMOND
UNGEMACH DEBORAH
REGION CODE ADDRESS : 2 AMATO CT
01 CITY : LONG VALLEY
STATE/ZIP : NJ 07853
MORTGAGE AMOUNT : 393,640.00 OPTION TO CONVERT :
UNPAID BALANCE : 393,068.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,786.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.99800
----------------------------------------------------------------
0 0007694938 MORTGAGORS: ZIEMAN MATTHEW
ZIEMAN LINDA
REGION CODE ADDRESS : 18 LENAPE COURT
01 CITY : MT. LAUREL
STATE/ZIP : NJ 08054
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,481.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,945.80 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 76.49200
----------------------------------------------------------------
0 0007694946 MORTGAGORS: MOY GARRY
MOY RITA
REGION CODE ADDRESS : 5 MURRAY ROAD
01 CITY : MOORESTOWN
STATE/ZIP : NJ 08057
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,781.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,708.02 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.50100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,667,440.00
P & I AMT: 11,344.53
UPB AMT: 1,665,026.47
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 36
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007694961 MORTGAGORS: PARULKAR BHALCHANDRA
PARULKAR SMITA
REGION CODE ADDRESS : 19 CASTLE ROAD
01 CITY : NORTHBOROUGH
STATE/ZIP : MA 01532
MORTGAGE AMOUNT : 329,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 329,109.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,304.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007694979 MORTGAGORS: BRYSON-RUSSO SUSAN
RUSSO CHARLIE
REGION CODE ADDRESS : 11 ROBIN ROAD
01 CITY : NORFOLK
STATE/ZIP : MA 02056
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,560.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,179.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/18
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007694987 MORTGAGORS: OSHEROFF WILLIAM
REGION CODE ADDRESS : 11 BENEDEK RD
01 CITY : LAWRENCE
STATE/ZIP : NJ 08532
MORTGAGE AMOUNT : 496,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 495,261.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,468.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007694995 MORTGAGORS: DANLER GARY
DANLER KATHLEEN
REGION CODE ADDRESS : 3302 HIDDEN RIVER VIEW RD
01 CITY : ANNAPOLIS
STATE/ZIP : MD 21403
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 398,740.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,728.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 52.45900
----------------------------------------------------------------
0 0007695026 MORTGAGORS: BUONAVITA STEVEN
BUONAVITA VITINA
REGION CODE ADDRESS : 149 CHUCKANUTT DRIVE
01 CITY : OAKLAND
STATE/ZIP : NJ 07436
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,356.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,729.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 78.78700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,753,600.00
P & I AMT: 12,410.75
UPB AMT: 1,749,028.31
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 37
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007695034 MORTGAGORS: MANETTA ROBERT
MANETTA BEATRIZ
REGION CODE ADDRESS : 311 WHITENACK RD
01 CITY : FAR HILLS
STATE/ZIP : NJ 07931
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,255.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,496.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 47.61900
----------------------------------------------------------------
0 0007695059 MORTGAGORS: STOUDT CHARLOTTE
REGION CODE ADDRESS : 46 EAST 25TH STREET
01 CITY : AVALON
STATE/ZIP : NJ 08202
MORTGAGE AMOUNT : 352,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,856.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,644.46 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007695067 MORTGAGORS: WASSON ARTHUR
WASSON KATHLEEN
REGION CODE ADDRESS : 6 MARBLEHEAD DR
01 CITY : PRINCETON JUNCTION
STATE/ZIP : NJ 08550
MORTGAGE AMOUNT : 261,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,238.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,896.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007695075 MORTGAGORS: PORCELLI DAVID
PORCELLI KATHY
REGION CODE ADDRESS : 372 HIGHLAND AVE
01 CITY : RIDGEWOOD
STATE/ZIP : NJ 07450
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,255.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,496.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 62.50000
----------------------------------------------------------------
0 0007695109 MORTGAGORS: LEDDY LEE
LEDDY MARY
REGION CODE ADDRESS : 2206 MUELLER LA
01 CITY : WALL TWP
STATE/ZIP : NJ 07719
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,740.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,447.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 67.30700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,963,600.00
P & I AMT: 13,980.67
UPB AMT: 1,960,346.19
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 38
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007695125 MORTGAGORS: HEARTFIELD MAURICE
HEARTFIELD LINDA
REGION CODE ADDRESS : 5133 WESTPATH WAY
01 CITY : BETHESDA
STATE/ZIP : MD 20816
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,685.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,046.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 05/01/23
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 52.83000
----------------------------------------------------------------
0 0007695133 MORTGAGORS: WALLACE ROBERT
WALLACE SHARON
REGION CODE ADDRESS : 30 HIGHPOINT DR
01 CITY : MEDFORD
STATE/ZIP : NJ 08055
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,578.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,052.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 86.82600
----------------------------------------------------------------
0 0007695166 MORTGAGORS: MONGAN PAUL
SCHIFFER DOMINIQUE
REGION CODE ADDRESS : 122 TREEHAVEN STREET
01 CITY : GAITERSBURG
STATE/ZIP : MD 20878
MORTGAGE AMOUNT : 416,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 415,348.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,837.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007695174 MORTGAGORS: VATES THOMAS
VATES MOLLY
REGION CODE ADDRESS : 43 CRAWFORD ROAD
01 CITY : MIDDLETOWN
STATE/ZIP : NJ 07748
MORTGAGE AMOUNT : 278,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,593.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,949.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007695182 MORTGAGORS: PU HAI
WU YIHUI
REGION CODE ADDRESS : 17 FLETCHER DR
01 CITY : MONTVILLE
STATE/ZIP : NJ 07045
MORTGAGE AMOUNT : 359,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 358,195.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,510.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 69.70800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,623,800.00
P & I AMT: 11,396.55
UPB AMT: 1,620,401.22
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 39
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007695190 MORTGAGORS: CHENG CHARLES
REGION CODE ADDRESS : 2 HAMILTON DR
01 CITY : WEST WINDSOR
STATE/ZIP : NJ 08550
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,564.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,123.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 93.75000
----------------------------------------------------------------
0 0007695208 MORTGAGORS: BURGOS FREDDY
BURGOS KAROL
REGION CODE ADDRESS : 27 SCHOOL STREET
01 CITY : DUXBURY
STATE/ZIP : MA 02332
MORTGAGE AMOUNT : 246,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,567.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,811.67 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 94.99800
----------------------------------------------------------------
0 0007695232 MORTGAGORS: KHOURI PHILIPPE
KHOURI RANDA
REGION CODE ADDRESS : 121 MT. LUCAS RD
01 CITY : PRINCETON
STATE/ZIP : NJ 08540
MORTGAGE AMOUNT : 375,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 374,413.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,558.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.78700
----------------------------------------------------------------
0 0007695240 MORTGAGORS: DELVY LINDA
DELVY DONALD
REGION CODE ADDRESS : 1316 SUNNY AYR WAY
01 CITY : LANSDALE
STATE/ZIP : PA 19446
MORTGAGE AMOUNT : 296,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,670.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,095.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007695265 MORTGAGORS: KOOLS CAROLYN
KOOLS KEVIN
REGION CODE ADDRESS : 73 STONEY LEA RD
01 CITY : DEDHAM
STATE/ZIP : MA 02026
MORTGAGE AMOUNT : 299,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,190.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,095.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,517,700.00
P & I AMT: 10,684.56
UPB AMT: 1,515,405.57
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 40
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007695273 MORTGAGORS: FAY ERIC
THOMPSON CHERYL
REGION CODE ADDRESS : 1106 BROOKSIDE AVE
01 CITY : OCEAN
STATE/ZIP : NJ 07712
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,634.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,783.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007695281 MORTGAGORS: BLACKBURN THOMAS
DURANT MARIA
REGION CODE ADDRESS : 357 COMMERCIAL STREET
01 CITY : BOSTON
STATE/ZIP : MA 02115
MORTGAGE AMOUNT : 249,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,228.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,745.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007695299 MORTGAGORS: SADACCA ELYO
SADACCA CAROLINE
REGION CODE ADDRESS : 10416 SNOW POINT DRIVE
01 CITY : BETHESDA
STATE/ZIP : MD 20814
MORTGAGE AMOUNT : 364,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 354,401.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,545.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007695315 MORTGAGORS: LESSER HARRY
LESSER JOANN
REGION CODE ADDRESS : 10525 HENDERSON ROAD
01 CITY : FAIRFAX STATION
STATE/ZIP : VA 22039
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,436.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,455.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007695323 MORTGAGORS: ANNUNZIATA FRANK
ANNUNZIATA DONNA
REGION CODE ADDRESS : 18 FORMAN CT
01 CITY : FREEHOLD
STATE/ZIP : NJ 07728
MORTGAGE AMOUNT : 305,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 304,498.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,029.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 66.63700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,530,600.00
P & I AMT: 10,559.06
UPB AMT: 1,519,199.32
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 41
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007695331 MORTGAGORS: ROSEN HARRY
MEISLIN ANN
REGION CODE ADDRESS : 11525 FLINTS GROVE LANE
01 CITY : GAITHERSBURG
STATE/ZIP : MD 20878
MORTGAGE AMOUNT : 269,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,134.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,748.63 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007695349 MORTGAGORS: MUNACO MARIE
MUNACO ANTHONY
REGION CODE ADDRESS : 8 CURLEW PL
01 CITY : OYSTER BAY
STATE/ZIP : NY 11771
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,810.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,789.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007695364 MORTGAGORS: SUKUMAR MINAKSHI
SUKUMAR PRABHA
REGION CODE ADDRESS : 15616 COPPERFIELD LANE
01 CITY : GERMANTOWN
STATE/ZIP : MD 20874
MORTGAGE AMOUNT : 401,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 401,270.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,671.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007695380 MORTGAGORS: JONES DANIEL
JONES RENATE
REGION CODE ADDRESS : 359 STONEHENGE SW
01 CITY : GRANDVILLE
STATE/ZIP : MI 49418
MORTGAGE AMOUNT : 311,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 310,401.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,201.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 74.93900
----------------------------------------------------------------
0 0007695406 MORTGAGORS: ROGERS PHILLIP
ROGERS KORRINE
REGION CODE ADDRESS : 6303 GLENSTONE
01 CITY : GRAND RAPIDS
STATE/ZIP : MI 49546
MORTGAGE AMOUNT : 256,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,937.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,836.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 65.05000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,494,500.00
P & I AMT: 10,247.89
UPB AMT: 1,492,553.93
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 42
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007695414 MORTGAGORS: HUTTENHOFF MICKEY
SUMMERS RONNIE
REGION CODE ADDRESS : 15505 BAKER RD WEST
01 CITY : MANHATTAN
STATE/ZIP : IL 60442
MORTGAGE AMOUNT : 274,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,122.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,919.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.89300
----------------------------------------------------------------
0 0007695422 MORTGAGORS: BREITENBUCHER BRIAN
BREITENBUCHER ANGELA
REGION CODE ADDRESS : 1304 W. 62ND ST.
01 CITY : LAGRANGE
STATE/ZIP : IL 60525
MORTGAGE AMOUNT : 261,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,019.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,824.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 04/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007695448 MORTGAGORS: SKEKLOFF JON
SKEKLOFF SHERRI
REGION CODE ADDRESS : 14612 CREEK EDGE
01 CITY : HOLLAND
STATE/ZIP : MI 49424
MORTGAGE AMOUNT : 271,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,596.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,894.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.24600
----------------------------------------------------------------
0 0007695455 MORTGAGORS: SWISCHUK JAMES
BAHR-SWISCHUK SYLVIA
REGION CODE ADDRESS : 3311 KNOXVILLE
01 CITY : PEORIA
STATE/ZIP : IL 61602
MORTGAGE AMOUNT : 259,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,614.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,810.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 76.17600
----------------------------------------------------------------
0 0007695463 MORTGAGORS: STEVENS PAUL
STEVENS ANNA
REGION CODE ADDRESS : 2424 HIGHMEADOW
01 CITY : NAPERVILLE
STATE/ZIP : IL 60564
MORTGAGE AMOUNT : 253,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,450.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,625.75 OUTSIDE CONV DATE :
LIFETIME RATE : 6.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.62500 PRODUCT CODE : 002
LTV : 79.71800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,319,450.00
P & I AMT: 9,076.25
UPB AMT: 1,313,803.35
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 43
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007695513 MORTGAGORS: PEAPER BRIAN
PEAPER VICTORIA
REGION CODE ADDRESS : 107 RIVER DR
01 CITY : TEQUESTA
STATE/ZIP : FL 33469
MORTGAGE AMOUNT : 479,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 478,853.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,391.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007695521 MORTGAGORS: MERCURI ALDRIC
REGION CODE ADDRESS : 2510 EAST LAKE BLUFF BLVD.
01 CITY : SHOREWOOD
STATE/ZIP : WI 53211
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 308,874.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,194.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.60900
----------------------------------------------------------------
0 0007695539 MORTGAGORS: CASLER JANET
CASLER PETER
REGION CODE ADDRESS : 19 FENNO ROAD
01 CITY : NEWTON
STATE/ZIP : MA 02159
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,531.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,896.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 55.28600
----------------------------------------------------------------
0 0007695562 MORTGAGORS: SUTTERLIN JOHN
SUTTERLIN JANICE
REGION CODE ADDRESS : 12 WHITEBRIDGE LANE
01 CITY : FRANKFORT
STATE/ZIP : KY 40601
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,640.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,885.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 74.49800
----------------------------------------------------------------
0 0007695570 MORTGAGORS: DOLHANCRYK JAMES
DOLHANCRYK JOSEPHINE
REGION CODE ADDRESS : 22 CHERRYDALE ROAD LOT 73
01 CITY : GLEN MILLS
STATE/ZIP : PA 19342
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,783.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,568.77 OUTSIDE CONV DATE :
LIFETIME RATE : 6.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.62500 PRODUCT CODE : 002
LTV : 76.94100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,579,200.00
P & I AMT: 10,936.00
UPB AMT: 1,576,683.90
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 44
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007695588 MORTGAGORS: CARLETON CHRISTOPHER
CARLETON MICHELLE
REGION CODE ADDRESS : 25 BIRCH TREE RD
01 CITY : FOXBORO
STATE/ZIP : MA 02035
MORTGAGE AMOUNT : 291,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,420.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,942.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
0 0007695596 MORTGAGORS: KASHUBA DAVID
REGION CODE ADDRESS : 708 NIGHTHAWK WAY
01 CITY : N PALM BEACH
STATE/ZIP : FL 33408
MORTGAGE AMOUNT : 314,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,315.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,282.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 74.05800
----------------------------------------------------------------
0 0007695604 MORTGAGORS: BETTI ANTHONY
BETTI MARIASSUNTA
REGION CODE ADDRESS : 3639 LAKEWOOD
01 CITY : CHICAGO
STATE/ZIP : IL 60613
MORTGAGE AMOUNT : 367,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 366,666.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,599.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007695612 MORTGAGORS: HACKL TIMOTHY
HACKL ROBIN
REGION CODE ADDRESS : 1548 RACHEL DRIVE
01 CITY : BUFFALO GROVE
STATE/ZIP : IL 60089
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,648.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,776.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007695620 MORTGAGORS: EISEN ELLEN
COHEN JOSHUA
REGION CODE ADDRESS : 57 ORCHARD STREET
01 CITY : CAMBRIDGE
STATE/ZIP : MA 02140
MORTGAGE AMOUNT : 324,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 323,765.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,293.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 52.68200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,545,850.00
P & I AMT: 10,893.17
UPB AMT: 1,543,816.50
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 45
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007695638 MORTGAGORS: MCBRIDE JAMES
MCBRIDE ANTOINETTE
REGION CODE ADDRESS : 33 SUNDEW ROAD
01 CITY : SAVANNAH
STATE/ZIP : GA 31411
MORTGAGE AMOUNT : 448,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 446,795.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,056.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007695646 MORTGAGORS: RUBENSTEIN DAVID
REGION CODE ADDRESS : 6170 OLD HICKORY POINT NW
01 CITY : ATLANTA
STATE/ZIP : GA 30328
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,608.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,705.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 51.54600
----------------------------------------------------------------
0 0007695653 MORTGAGORS: ASKEW ANTHONY
REGION CODE ADDRESS : 211 TOWNSEND PL
01 CITY : ATLANTA
STATE/ZIP : GA 30327
MORTGAGE AMOUNT : 420,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 419,434.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,081.82 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007695661 MORTGAGORS: BOSWELL CARTER
COOPER-BOSWELL RIFKA
REGION CODE ADDRESS : 16128 MOUNTAIN BLUEBIRD WAY
01 CITY : MORRISON
STATE/ZIP : CO 80465
MORTGAGE AMOUNT : 241,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,459.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,800.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/23
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 45.21500
----------------------------------------------------------------
0 0007695679 MORTGAGORS: BOSHES ROGER
HANRAHAN-BOSHES MEREDITH
REGION CODE ADDRESS : 15 ELLIS STREET
01 CITY : MEDWAY
STATE/ZIP : MA 02053
MORTGAGE AMOUNT : 293,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 293,383.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,104.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 77.31500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,652,800.00
P & I AMT: 11,748.85
UPB AMT: 1,649,682.86
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 46
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007695695 MORTGAGORS: THEBAUD EDWARD
REGION CODE ADDRESS : 5035 WALNUT CREEK TRAIL
01 CITY : ALPHARETTA
STATE/ZIP : GA 30005
MORTGAGE AMOUNT : 241,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,658.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,726.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.53700
----------------------------------------------------------------
0 0007695703 MORTGAGORS: GANCI PAUL
GANCI LISA
REGION CODE ADDRESS : 22 BRADLEY ROAD
01 CITY : ANDOVER
STATE/ZIP : MA 01810
MORTGAGE AMOUNT : 253,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,632.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,790.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 69.31500
----------------------------------------------------------------
0 0007695752 MORTGAGORS: MC GLOIN WILLIAM
REGION CODE ADDRESS : 4732 TALLEYBROOK DRIVE
01 CITY : KENNESAW
STATE/ZIP : GA 30152
MORTGAGE AMOUNT : 375,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 374,700.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,526.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.75700
----------------------------------------------------------------
0 0007695760 MORTGAGORS: MARTIN DAVID
FINNERTY-MARTIN ELIZABETH
REGION CODE ADDRESS : 1495 N DECATUR ROAD
01 CITY : ATLANTA
STATE/ZIP : GA 30306
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,569.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,875.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 70.51200
----------------------------------------------------------------
0 0007695778 MORTGAGORS: SAMSON ROBERT
SAMSON CAROL
REGION CODE ADDRESS : 11 HENRY ST
01 CITY : WINCHESTER
STATE/ZIP : MA 01890
MORTGAGE AMOUNT : 270,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,107.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,914.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 69.35800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,414,500.00
P & I AMT: 9,834.31
UPB AMT: 1,412,668.28
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 47
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007695786 MORTGAGORS: JACQUEMARD BRUCE
JACQUEMARD NANA
REGION CODE ADDRESS : 7808 BROCKWAY DRIVE
01 CITY : BOULDER
STATE/ZIP : CO 80303
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,511.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,128.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007695794 MORTGAGORS: COONEY JAMES
COONEY LINDA
REGION CODE ADDRESS : 6271 SOUTH BILLINGS WAY
01 CITY : ENGLEWOOD
STATE/ZIP : CO 80111
MORTGAGE AMOUNT : 318,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 317,451.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,169.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99800
----------------------------------------------------------------
0 0007695802 MORTGAGORS: WOLK JOEL
DOLGIN MARCIA
REGION CODE ADDRESS : 80 CANTON STREET
01 CITY : SHARON
STATE/ZIP : MA 02067
MORTGAGE AMOUNT : 252,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,317.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,787.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 66.62200
----------------------------------------------------------------
0 0007695836 MORTGAGORS: MORROW JOE
MORROW CYNTHIA
REGION CODE ADDRESS : 10601 WEST VASSAR PLACE
01 CITY : LAKEWOOD
STATE/ZIP : CO 80227
MORTGAGE AMOUNT : 293,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,929.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,976.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 89.96800
----------------------------------------------------------------
0 0007695844 MORTGAGORS: JAGGAR ALISON
REGION CODE ADDRESS : 5139 SUGARLOAF ROAD
01 CITY : BOULDER
STATE/ZIP : CO 80302
MORTGAGE AMOUNT : 301,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 301,314.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,057.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 66.27400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,477,500.00
P & I AMT: 10,119.06
UPB AMT: 1,475,524.78
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 48
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007695869 MORTGAGORS: DEPEW JOHN
DEPEW KELLY
REGION CODE ADDRESS : 2707 SUGARBERRY LN
01 CITY : MIDLOTHIAN
STATE/ZIP : VA 23113
MORTGAGE AMOUNT : 297,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,568.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,102.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007695877 MORTGAGORS: CAMPAGNOLA JOSEPH
CAMPAGNOLA MARTHA
REGION CODE ADDRESS : 2853 EAST NICHOLS CIRCLE
01 CITY : LITTLETON
STATE/ZIP : CO 80122
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,773.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,978.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 70.73100
----------------------------------------------------------------
0 0007695885 MORTGAGORS: ARGANESE THOMAS
ARGANESE MARY
REGION CODE ADDRESS : 9679 EAST PRENTICE CIRCLE
01 CITY : ENGLEWOOD
STATE/ZIP : CO 80111
MORTGAGE AMOUNT : 495,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 494,613.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,376.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 47.14200
----------------------------------------------------------------
0 0007695893 MORTGAGORS: HENRY JANET
HENRY MARION
REGION CODE ADDRESS : 1601 SE 13TH ST
01 CITY : FORT LAUDERDALE
STATE/ZIP : FL 33316
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,782.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,832.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007695919 MORTGAGORS: SAWYER KENNETH
SAWYER JANET
REGION CODE ADDRESS : 345 STEELE STREET
01 CITY : DENVER
STATE/ZIP : CO 80206
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,687.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,728.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.88700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,754,000.00
P & I AMT: 12,018.48
UPB AMT: 1,752,426.76
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 49
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007695927 MORTGAGORS: FLEMING KATE
KELLER CONSTANCE
REGION CODE ADDRESS : 10320 WATERLEAF COURT
01 CITY : MEQUON
STATE/ZIP : WI 53092
MORTGAGE AMOUNT : 335,625.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,363.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,289.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007695935 MORTGAGORS: AGATUCCI ANTHONY
AGATUCCI PATRICIA
REGION CODE ADDRESS : 4809 BLACKWOLF ROAD
01 CITY : SPRINGFIELD
STATE/ZIP : IL 62707
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 379,703.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,592.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 63.12200
----------------------------------------------------------------
0 0007695943 MORTGAGORS: MCNAMARA TIMOTHY
HOBLITZELLE WENDY
REGION CODE ADDRESS : 2004 20TH AVENUE SOUTH
01 CITY : NASHVILLE
STATE/ZIP : TN 37212
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,781.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,910.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007695950 MORTGAGORS: DEWEY ALLEN
DEWEY JUDITH
REGION CODE ADDRESS : 7 VANDORA PLACE
01 CITY : DURHAM
STATE/ZIP : NC 27705
MORTGAGE AMOUNT : 252,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,697.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,703.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007695968 MORTGAGORS: BOHANNON JEFFERY
BOHANNON DEBORAH
REGION CODE ADDRESS : 1086 BLUE HERON ROAD
01 CITY : NASHVILLE
STATE/ZIP : TN 37221
MORTGAGE AMOUNT : 305,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 304,762.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,080.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.61900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,553,525.00
P & I AMT: 10,576.41
UPB AMT: 1,552,308.14
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 50
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007695976 MORTGAGORS: CORN RONALD
CORN DEANNE
REGION CODE ADDRESS : 19 CARRIAGE PINES CT
01 CITY : THE WOODLANDS
STATE/ZIP : TX 77381
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,792.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,751.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.28500
----------------------------------------------------------------
0 0007695984 MORTGAGORS: RETTENMAIER DAVID
RETTENMAIER REBECCA
REGION CODE ADDRESS : 9076 CUMMINGS FARM LANE
01 CITY : CINCINNATI
STATE/ZIP : OH 45249
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,789.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,841.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 60.13300
----------------------------------------------------------------
0 0007696008 MORTGAGORS: CLOPTON CLAUDIA
CARLEY KATHERINE
REGION CODE ADDRESS : 460 LAFEYETTE STREET
01 CITY : DENVER
STATE/ZIP : CO 80218
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,797.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,773.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 62.65000
----------------------------------------------------------------
0 0007696016 MORTGAGORS: LAFIANDRA CATALDO
LAFIANDRA CATHERINE
REGION CODE ADDRESS : 958 BYRNWYCK ROAD
01 CITY : ATLANTA
STATE/ZIP : GA 30319
MORTGAGE AMOUNT : 332,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,759.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,349.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007696024 MORTGAGORS: METZGER ANDREW
METZGER KATHLEEN
REGION CODE ADDRESS : 2676 ROCHESTER ROAD
01 CITY : SHAKER HEIGHTS
STATE/ZIP : OH 44122
MORTGAGE AMOUNT : 265,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,084.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,811.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,387,500.00
P & I AMT: 9,528.27
UPB AMT: 1,386,222.83
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 51
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007696032 MORTGAGORS: FOLEY STEPHEN
FOLEY REGINA
REGION CODE ADDRESS : 223 CURWEN ROAD
01 CITY : ROSEMONT
STATE/ZIP : PA 19010
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,687.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,728.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.07200
----------------------------------------------------------------
0 0007696040 MORTGAGORS: BRENMAN JEFFREY
HANCOCK VIRGINIA
REGION CODE ADDRESS : 1000 SOUTH FRANKLIN STREET
01 CITY : DENVER
STATE/ZIP : CO 80209
MORTGAGE AMOUNT : 345,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 344,446.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,324.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 53.73800
----------------------------------------------------------------
0 0007696057 MORTGAGORS: DEVENS JOHN
DEVENS CAROL
REGION CODE ADDRESS : 9628 E MAPLEWOOD CIRCLE
01 CITY : ENGLEWOOD
STATE/ZIP : CO 80111
MORTGAGE AMOUNT : 355,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 354,430.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,391.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 76.34400
----------------------------------------------------------------
0 0007696065 MORTGAGORS: HAWTHORNE DAVID
HAWTHORNE DENISE
REGION CODE ADDRESS : 213 DEER LANE
01 CITY : SLEEPY HOLLOW
STATE/ZIP : IL 60118
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,794.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,864.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.24800
----------------------------------------------------------------
0 0007696073 MORTGAGORS: BARONE NICHOLAS
BARONE JANET
REGION CODE ADDRESS : 1117 GREENLEA DRIVE
01 CITY : APEX
STATE/ZIP : NC 27502
MORTGAGE AMOUNT : 256,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,599.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,751.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,626,800.00
P & I AMT: 11,061.41
UPB AMT: 1,624,959.30
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 52
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007696081 MORTGAGORS: WASCHKIES JOHN
WASCHKIES KATHY
REGION CODE ADDRESS : 595 WATBORO HILL DRIVE
01 CITY : ALPHARETTA
STATE/ZIP : GA 30201
MORTGAGE AMOUNT : 269,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,284.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,815.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 73.83561
----------------------------------------------------------------
0 0007696099 MORTGAGORS: HARDESTY MICHAEL
NOPPENBERGER SHERI
REGION CODE ADDRESS : 25 WATCH POINT DRIVE
01 CITY : FT. THOMAS
STATE/ZIP : KY 41075
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,572.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,933.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007696107 MORTGAGORS: SELLERS SANDRA
SELLERS MICHAEL
REGION CODE ADDRESS : 2665 WOODLAND COURT
01 CITY : WEST DES MOINES
STATE/ZIP : IA 50266
MORTGAGE AMOUNT : 272,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,565.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,769.38 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 74.99600
----------------------------------------------------------------
0 0007696115 MORTGAGORS: JOHNSON GWENDOLYN
REGION CODE ADDRESS : 362 KINTNERS ROAD
01 CITY : KINTNERSVILLE
STATE/ZIP : PA 18930
MORTGAGE AMOUNT : 290,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,277.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,057.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007696131 MORTGAGORS: WILLIAMS JOE
WILLIAMS AMY
REGION CODE ADDRESS : 693 COURTENAY DRIVE
01 CITY : ATLANTA
STATE/ZIP : GA 30306
MORTGAGE AMOUNT : 284,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,506.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,065.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 94.99800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,397,900.00
P & I AMT: 9,642.25
UPB AMT: 1,396,206.63
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 53
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007696156 MORTGAGORS: DRAKE ROY
CURTIS-DRAKE LYN
REGION CODE ADDRESS : 9686 EAST MAPLEWOOD CIRCLE
01 CITY : ENGLEWOOD
STATE/ZIP : CO 80111
MORTGAGE AMOUNT : 302,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 302,319.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,089.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 69.46300
----------------------------------------------------------------
0 0007696180 MORTGAGORS: RUOCCO JOSEPH
RUOCCO MARY
REGION CODE ADDRESS : 6300 AVALON DRIVE
01 CITY : BETHESDA
STATE/ZIP : MD 20816
MORTGAGE AMOUNT : 318,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 318,151.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,172.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007696206 MORTGAGORS: CAMILLO GREGORY
CAMILLO VALERIE
REGION CODE ADDRESS : 2324 ABINGTON ROAD
01 CITY : COLUMBUS
STATE/ZIP : OH 43221
MORTGAGE AMOUNT : 412,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 411,678.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,810.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007696214 MORTGAGORS: HE HONGYU
CAI XIN
REGION CODE ADDRESS : 19 HYACINTH DRIVE
01 CITY : WESTFORD
STATE/ZIP : MA 01886
MORTGAGE AMOUNT : 247,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,211.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,708.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.80600
----------------------------------------------------------------
0 0007696222 MORTGAGORS: WASHINGTON KEITH
REGION CODE ADDRESS : 1170 E. CLUB LANE
01 CITY : ATLANTA
STATE/ZIP : GA 30319
MORTGAGE AMOUNT : 492,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 491,616.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,356.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,772,350.00
P & I AMT: 12,137.31
UPB AMT: 1,770,977.93
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 54
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007696248 MORTGAGORS: FAKHRZAD ALI
FAKHRZAD TOMMA
REGION CODE ADDRESS : 1039 KEYSTONE TRAIL DR
01 CITY : CHESTERFIELD
STATE/ZIP : MO 63005
MORTGAGE AMOUNT : 289,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 288,774.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,971.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 78.10800
----------------------------------------------------------------
0 0007696263 MORTGAGORS: KRAUS SUSAN
REGION CODE ADDRESS : 10244 LYLEWOOD
01 CITY : LADUE
STATE/ZIP : MO 63124
MORTGAGE AMOUNT : 250,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,209.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,729.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031019631 MORTGAGORS: KENNEY JOHN
GOLDBERG ALISON
REGION CODE ADDRESS : 11 BIG WOODS DRIVE
01 CITY : GLEN MILLS
STATE/ZIP : PA 19342
MORTGAGE AMOUNT : 247,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,812.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,705.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 94.82600
----------------------------------------------------------------
0 0031151426 MORTGAGORS: THOMAS DAVID
REGION CODE ADDRESS : 443 CAPTAINS WALK
01 CITY : HILTON HEAD
STATE/ZIP : SC 29928
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,318.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,010.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 01/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031165293 MORTGAGORS: SHIREY THOMAS
SHIREY SUSAN
REGION CODE ADDRESS : 1937 MISTY WOODS DRIVE
01 CITY : DULUTH
STATE/ZIP : GA 30397
MORTGAGE AMOUNT : 279,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,976.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,881.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 78.10800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,349,600.00
P & I AMT: 9,298.08
UPB AMT: 1,347,091.22
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 55
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031191885 MORTGAGORS: BUCHAN ROBERT
BUCHAN LORINDA
REGION CODE ADDRESS : 2453 RUE LE CHARLENE
01 CITY : RANCHO PALOS VERDES
STATE/ZIP : CA 92075
MORTGAGE AMOUNT : 488,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 487,637.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,412.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 70.72400
----------------------------------------------------------------
0 0031200207 MORTGAGORS: ZAMPI MICHAEL
ZAMPI CHRISTINE
REGION CODE ADDRESS : 24 MIDDLETON LANE
01 CITY : NEW GARDEN TWP.
STATE/ZIP : PA 19350
MORTGAGE AMOUNT : 348,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 345,899.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,344.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 02/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031211741 MORTGAGORS: NOVAK GERARD
NOVAK GILDA
REGION CODE ADDRESS : 51 BAILLY DRIVE
01 CITY : BURLINGTON
STATE/ZIP : NJ 08016
MORTGAGE AMOUNT : 235,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,829.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,663.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 88.39100
----------------------------------------------------------------
0 0031224520 MORTGAGORS: MCCANN JAMES
MCCANN CHABIDAI
REGION CODE ADDRESS : 2 SLEEPY HOLLOW DRIVE
01 CITY : JEFFERSON
STATE/ZIP : NJ 07438
MORTGAGE AMOUNT : 236,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,820.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,630.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.89100
----------------------------------------------------------------
0 0031327133 MORTGAGORS: GUPTA YOGENDRA
GUPTA PADMA
REGION CODE ADDRESS : 13500 STONEBRIDGE TERRACE
01 CITY : GERMANTOWN
STATE/ZIP : MD 20874
MORTGAGE AMOUNT : 276,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,578.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,906.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,583,000.00
P & I AMT: 10,956.30
UPB AMT: 1,579,766.22
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 56
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031349269 MORTGAGORS: MCGEADY THOMAS
REGION CODE ADDRESS : 47808 SAULTY DRIVE
01 CITY : STERLING
STATE/ZIP : VA 20165
MORTGAGE AMOUNT : 305,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 304,215.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,163.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 04/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031380173 MORTGAGORS: WELLS JOSEPH
WELLS LORRAINE
REGION CODE ADDRESS : 2511 AMHERST AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90064
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,977.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,901.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 04/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 77.27272
----------------------------------------------------------------
0 0031383268 MORTGAGORS: MILLER WALTER
REGION CODE ADDRESS : 3428 CAMINO CORTE
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 334,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 334,900.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,370.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 72.03600
----------------------------------------------------------------
0 0031395320 MORTGAGORS: HEERBOTH WESLEY
HEERBOTH TERRI
REGION CODE ADDRESS : 608 EAGLE CREEK POINTE
01 CITY : DULUTH
STATE/ZIP : GA 30097
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,785.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,177.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 86.99300
----------------------------------------------------------------
0 0031403306 MORTGAGORS: LATHAM AL
LATHAM DEBORAH
REGION CODE ADDRESS : 469 HARRISON STREET
01 CITY : DENVER
STATE/ZIP : CO 80206
MORTGAGE AMOUNT : 337,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 337,097.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,360.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,554,100.00
P & I AMT: 10,973.75
UPB AMT: 1,550,975.60
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 57
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031404080 MORTGAGORS: SELLERS RONALD
SELLERS GEORGE
REGION CODE ADDRESS : 53 LONG MEADOW ROAD
01 CITY : BEDFORD
STATE/ZIP : NY 10506
MORTGAGE AMOUNT : 1,000,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 999,219.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 6,821.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 015
LTV : 71.42800
----------------------------------------------------------------
0 0031409048 MORTGAGORS: SHALLENBERGER JUDY
REGION CODE ADDRESS : 2262 WILLOWBEND ROAD
01 CITY : GENOA
STATE/ZIP : NV 89411
MORTGAGE AMOUNT : 425,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 424,850.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,938.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 62.11600
----------------------------------------------------------------
0 0031413271 MORTGAGORS: MONAHAN DANIEL
MONAHAN DARLENE
REGION CODE ADDRESS : 1430 DEWING LANE
01 CITY : WALNUT CREEK
STATE/ZIP : CA 94595
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,099.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,805.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 04/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031431927 MORTGAGORS: VELASCO PAUL
VELASCO MADELINE
REGION CODE ADDRESS : 15 VIEWCREST CICRLE
01 CITY : SOUTH SAN FRANSICO
STATE/ZIP : CA 94080
MORTGAGE AMOUNT : 265,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,153.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,855.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 72.62400
----------------------------------------------------------------
0 0031441165 MORTGAGORS: FORLENZA ROBERT
VELASQUEZ SANDRA
REGION CODE ADDRESS : 9 OVERLOOK DRIVE
01 CITY : PORT WASHINGTON
STATE/ZIP : NY 11050
MORTGAGE AMOUNT : 375,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 374,714.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,590.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 70.88800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,317,850.00
P & I AMT: 16,011.37
UPB AMT: 2,315,037.21
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 58
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031464506 MORTGAGORS: KRASNEY MICHAEL
KRASNEY KATHERINE
REGION CODE ADDRESS : 6117 TROTTER RIDGE COURT
01 CITY : COLUMBIA
STATE/ZIP : MD 21044
MORTGAGE AMOUNT : 270,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,167.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,753.81 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 79.99500
----------------------------------------------------------------
0 0031464845 MORTGAGORS: FOWLIE THOMAS
FOWLIE VALERIE
REGION CODE ADDRESS : 32 KINGSWOOD COURT
01 CITY : BELLE MEADE
STATE/ZIP : NJ 08502
MORTGAGE AMOUNT : 369,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 368,173.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,580.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031481211 MORTGAGORS: TOMLINSON MATTHEW
TOMLINSON DENISE
REGION CODE ADDRESS : 60 CREST ROAD
01 CITY : NEW PROVIDENCE
STATE/ZIP : NJ 07974
MORTGAGE AMOUNT : 339,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,119.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,432.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 94.99300
----------------------------------------------------------------
0 0031493059 MORTGAGORS: BURMAN MELVIN
BURMAN JOAN
REGION CODE ADDRESS : 36 OLYMPIC OAKS DRIVE
01 CITY : LAFAYETTE
STATE/ZIP : CA 94549
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 398,740.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,728.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.22000
----------------------------------------------------------------
0 0031498066 MORTGAGORS: WIEGERS SUSAN
GOLDSTEIN BARRY
REGION CODE ADDRESS : 76 OVERHILL RD.
01 CITY : BALA CYNWYD
STATE/ZIP : PA 19004
MORTGAGE AMOUNT : 440,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 440,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,890.49 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,819,000.00
P & I AMT: 12,386.06
UPB AMT: 1,816,200.01
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 59
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031525934 MORTGAGORS: FITZPATRICK JAMES
FITZPATRICK CHRISTINA
REGION CODE ADDRESS : 34 HAMPSHIRE DRIVE
01 CITY : IVYLAND
STATE/ZIP : PA 18974
MORTGAGE AMOUNT : 336,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,474.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,292.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 55.67500
----------------------------------------------------------------
0 0031528698 MORTGAGORS: CAPLAN MITCHELL
CAPLAN CYNTHIA
REGION CODE ADDRESS : 8024 SUMMER MILL COURT
01 CITY : BETHESDA
STATE/ZIP : MD 20817
MORTGAGE AMOUNT : 777,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 775,658.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 5,435.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 015
LTV : 67.60000
----------------------------------------------------------------
0 0031531064 MORTGAGORS: ADKISSON RICHARD
ADKISSON BETH
REGION CODE ADDRESS : 1042 SOUTH WINDY RIDGE COURT
01 CITY : ANAHEIM
STATE/ZIP : CA 92808
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,782.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,123.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031539588 MORTGAGORS: GREEN LESLIE
BOHI BARBARA
REGION CODE ADDRESS : 19 LANAPE TRAIL
01 CITY : MONTCLAIR
STATE/ZIP : NJ 07042
MORTGAGE AMOUNT : 394,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 393,812.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,757.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031540727 MORTGAGORS: STINNETT DONALD
STINNETT RAYRAI
REGION CODE ADDRESS : 10712 MARRIOTTSVILLE RD
01 CITY : RANDALLSTOWN
STATE/ZIP : MD 21133
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,948.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,079,800.00
P & I AMT: 14,557.54
UPB AMT: 2,076,728.15
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 60
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031544471 MORTGAGORS: VOLOK GREGORY
VOLOK EILEEN
REGION CODE ADDRESS : 3431 CENTRAL AVENUE
01 CITY : OCEAN CITY
STATE/ZIP : NJ 08226
MORTGAGE AMOUNT : 254,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,456.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,799.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0031549371 MORTGAGORS: TRIBBY LOWELL
TRIBBY CHRISTI-LE
REGION CODE ADDRESS : 14261 CLUBHOUSE ROAD
01 CITY : GAINESVILLE
STATE/ZIP : VA 20155
MORTGAGE AMOUNT : 279,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,700.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,837.43 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.96800
----------------------------------------------------------------
0 0031549918 MORTGAGORS: ARENA JOSEPH
ARENA LOUISE
REGION CODE ADDRESS : 25979 SARAZEN DRIVE
01 CITY : SOUTH RIDING
STATE/ZIP : VA 20152
MORTGAGE AMOUNT : 249,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,679.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031550866 MORTGAGORS: GARSON STAFFORD
GARSON STEFANIA
REGION CODE ADDRESS : 13 HALLOCK PLACE
01 CITY : ARMONK
STATE/ZIP : NY 10504
MORTGAGE AMOUNT : 950,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 947,763.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 6,480.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 015
LTV : 59.37500
----------------------------------------------------------------
0 0031555857 MORTGAGORS: NICHOLSON BRUCE
NICHOLSON KIMBERLY
REGION CODE ADDRESS : 5 TRAILWOOD
01 CITY : IRVINE
STATE/ZIP : CA 92620
MORTGAGE AMOUNT : 410,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 408,598.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,729.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 04/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.99100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,143,500.00
P & I AMT: 14,526.64
UPB AMT: 2,138,818.92
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 61
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031557366 MORTGAGORS: SKOUGE JOHN
REGION CODE ADDRESS : 23 MANSEL DRIVE
01 CITY : REISTERSTOWN
STATE/ZIP : MD 21136
MORTGAGE AMOUNT : 427,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 427,266.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,916.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.98800
----------------------------------------------------------------
0 0031559347 MORTGAGORS: FERNOW KATHY
REGION CODE ADDRESS : 5520 RUNNING SPRING WAY
01 CITY : YORBA LINDA
STATE/ZIP : CA 92887
MORTGAGE AMOUNT : 249,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,788.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,681.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031565062 MORTGAGORS: RIELA JOSEPH
RIELA PATRICE
REGION CODE ADDRESS : 1 ELI WHITNEY DRIVE
01 CITY : WESTBOROUGH
STATE/ZIP : MA 01581
MORTGAGE AMOUNT : 245,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,767.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,719.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.99600
----------------------------------------------------------------
0 0031571664 MORTGAGORS: NEWTON STEVEN
NEWTON SHARON
REGION CODE ADDRESS : 1094 FREMONT AVENUE
01 CITY : LOS ALTOS
STATE/ZIP : CA 94024
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 650,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,379.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 61.03200
----------------------------------------------------------------
0 0031572977 MORTGAGORS: SMITH BRADLEY
SMITH JENNIFER
REGION CODE ADDRESS : 78790 CITRUS STREET
01 CITY : LA QUINTA
STATE/ZIP : CA 92253
MORTGAGE AMOUNT : 545,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 544,574.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,717.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 69.87100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,118,150.00
P & I AMT: 14,415.36
UPB AMT: 2,115,397.22
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 62
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031578271 MORTGAGORS: MATEY CHRISTOPHER
MATEY LAURL
REGION CODE ADDRESS : 15517 SWEETBIRCH COURT
01 CITY : ROCKVILLE
STATE/ZIP : MD 20853
MORTGAGE AMOUNT : 241,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,231.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,668.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031582034 MORTGAGORS: FARRINGTON HAROLD
FARRINGTON KAMI
REGION CODE ADDRESS : 12734 HEATHERFORD PLACE
01 CITY : FAIRFAX
STATE/ZIP : VA 22030
MORTGAGE AMOUNT : 343,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 342,635.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,283.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031588064 MORTGAGORS: NEIMAND MICHAEL
NEIMAND DIANE
REGION CODE ADDRESS : 17074 KNAPP STREET
01 CITY : NORTHRIDGE AREA
STATE/ZIP : CA 91325
MORTGAGE AMOUNT : 295,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,198.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,041.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031589526 MORTGAGORS: ANDERSEN ROBERT
JOHNSON N.
REGION CODE ADDRESS : 15908 YATES STREET
01 CITY : OMAHA
STATE/ZIP : NE 68116
MORTGAGE AMOUNT : 324,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,172.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,271.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 89.96600
----------------------------------------------------------------
0 0031589658 MORTGAGORS: EXNER A
LADISH-EXNER MARGARET
REGION CODE ADDRESS : W278 N2977 ROCKY POINT ROAD
01 CITY : PEWAUKEE
STATE/ZIP : WI 53072
MORTGAGE AMOUNT : 364,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 363,736.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,576.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 32.50000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,569,350.00
P & I AMT: 10,842.10
UPB AMT: 1,566,974.23
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 63
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031589781 MORTGAGORS: ERK MICHAEL
ERK MARY
REGION CODE ADDRESS : LOT 51 PIPIT LANE
01 CITY : LEONARDTOWN
STATE/ZIP : MD 20650
MORTGAGE AMOUNT : 264,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,691.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,825.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 85.00000
----------------------------------------------------------------
0 0031590136 MORTGAGORS: FISCHOFF SETH
FISCHOFF DEBRA
REGION CODE ADDRESS : 160 WEST 86TH ST. #3A
01 CITY : NEW YORK
STATE/ZIP : NY 10024
MORTGAGE AMOUNT : 513,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 513,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,592.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031590342 MORTGAGORS: HORNGRAD DOUGLAS
HORNGRAD MARY
REGION CODE ADDRESS : 11 MARSH DRIVE
01 CITY : MILL VALLEY
STATE/ZIP : CA 94941
MORTGAGE AMOUNT : 550,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 548,351.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,845.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 63.43700
----------------------------------------------------------------
0 0031592439 MORTGAGORS: BLUME ROBERT
BLUME ANNE
REGION CODE ADDRESS : 56 WINDSOR GATE DRIVE
01 CITY : NORTH HILLS
STATE/ZIP : NY 11040
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,811.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,840.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031592926 MORTGAGORS: BOVBJERG DANA
BOVBJERG MARGARET
REGION CODE ADDRESS : 190 BOULEVARD AVENUE
01 CITY : PELHAM
STATE/ZIP : NY 10803
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,713.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,328.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 60.86900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,938,100.00
P & I AMT: 13,432.53
UPB AMT: 1,935,317.88
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 64
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031598881 MORTGAGORS: FAGENSON LESLIE
SCHERER DAVID
REGION CODE ADDRESS : 20 HILLSIDE AVENUE
01 CITY : MILLBURN
STATE/ZIP : NJ 07041
MORTGAGE AMOUNT : 804,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 799,798.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 6,040.18 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 01/01/28
CURRENT INT RATE: 8.25000 PRODUCT CODE : 015
LTV : 80.00000
----------------------------------------------------------------
0 0031599996 MORTGAGORS: DECARLO KENNETH
DECARLO TRACY
REGION CODE ADDRESS : 55 BARRINTON LANE
01 CITY : CHESTER SPRINGS
STATE/ZIP : PA 19425
MORTGAGE AMOUNT : 302,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 302,439.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,963.31 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031602907 MORTGAGORS: GARRISON KEVIN
GARRISON MARGUERITE
REGION CODE ADDRESS : 8915 DAY LILY COURT
01 CITY : FAIRFAX
STATE/ZIP : VA 22031
MORTGAGE AMOUNT : 365,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 365,033.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,402.07 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.99200
----------------------------------------------------------------
0 0031604135 MORTGAGORS: MARKWALTER JOHN
MARKWALTER JUANITA
REGION CODE ADDRESS : 525 ARDEN AT ARGONNE
01 CITY : ATLANTA
STATE/ZIP : GA 30305
MORTGAGE AMOUNT : 648,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 648,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,261.83 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031604689 MORTGAGORS: ANASTASIO ERNEST
ANASTASIO SUSAN
REGION CODE ADDRESS : 679 OLD COUNTRY LANE
01 CITY : RICHMOND
STATE/ZIP : VT 05477
MORTGAGE AMOUNT : 630,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 628,623.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,459.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 78.75000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,751,100.00
P & I AMT: 19,126.49
UPB AMT: 2,744,645.10
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 65
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031605967 MORTGAGORS: LEE JOHN
LEE ANNIE
REGION CODE ADDRESS : 4692 WILCOX AVENUE
01 CITY : SANTA CLARITA
STATE/ZIP : CA 95054
MORTGAGE AMOUNT : 242,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,801.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,610.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.34400
----------------------------------------------------------------
0 0031608938 MORTGAGORS: KIRBY GREGORY
KIRBY DOREEN
REGION CODE ADDRESS : 2414 SWAINWOOD DRIVE
01 CITY : GLENVIEW
STATE/ZIP : IL 60025
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,810.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,783.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 91.39700
----------------------------------------------------------------
0 0031614712 MORTGAGORS: LEVY CYNTHIA
REGION CODE ADDRESS : 11361 MORNING GATE DRIVE
01 CITY : ROCKVILLE
STATE/ZIP : MD 20852
MORTGAGE AMOUNT : 257,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,623.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,798.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031619505 MORTGAGORS: WILLIAMSON THOMAS
WILLIAMSON JANICE
REGION CODE ADDRESS : 14 STIRLING DRIVE
01 CITY : DANVILLE
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,410.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,299.25 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 57.61300
----------------------------------------------------------------
0 0031619638 MORTGAGORS: SCHAEFER SANDRA
REGION CODE ADDRESS : 12964 SW 147TH PLACE
01 CITY : TIGARD
STATE/ZIP : OR 97223
MORTGAGE AMOUNT : 236,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,970.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,631.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.76100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,340,350.00
P & I AMT: 9,121.70
UPB AMT: 1,338,616.71
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 66
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031620123 MORTGAGORS: BARAJAS ALBERTO
BARAJAS BLANCA
REGION CODE ADDRESS : 3276 NORWOOD AVENUE
01 CITY : SAN JOSE
STATE/ZIP : CA 95148
MORTGAGE AMOUNT : 257,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,799.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,753.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 71.38800
----------------------------------------------------------------
0 0031623127 MORTGAGORS: ORTLOFF DEAN
ORTLOFF JOAN
REGION CODE ADDRESS : 422 LESTER POINTE
01 CITY : WACONIA
STATE/ZIP : MN 55387
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,779.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,002.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.37800
----------------------------------------------------------------
0 0031624471 MORTGAGORS: PRATT AARON
PRATT KRISTEN
REGION CODE ADDRESS : 2271 VALLEY BROOK WAY
01 CITY : ATLANTA
STATE/ZIP : GA 30319
MORTGAGE AMOUNT : 327,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,230.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.98000
----------------------------------------------------------------
0 0031624695 MORTGAGORS: LABYORTEAUX PATRICK
ALBANESE TINA
REGION CODE ADDRESS : 10417 RAVENWOOD COURT
01 CITY : LOS ANGELES
STATE/ZIP : CA 90077
MORTGAGE AMOUNT : 375,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 374,692.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,494.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 55.55500
----------------------------------------------------------------
0 0031625270 MORTGAGORS: BACKMAN STEPHEN
BACKMAN JOY
REGION CODE ADDRESS : 205 S. ELMWOOD,
01 CITY : OAK PARK,
STATE/ZIP : IL 60302
MORTGAGE AMOUNT : 345,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 344,743.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,412.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,594,000.00
P & I AMT: 10,894.05
UPB AMT: 1,593,015.42
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 67
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031625510 MORTGAGORS: VAN SICKLE ROBERT
VAN SICKLE THERESA
REGION CODE ADDRESS : 443 EASTGATE ROAD
01 CITY : RIDGEWOOD
STATE/ZIP : NJ 07450
MORTGAGE AMOUNT : 272,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,042.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,880.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031626450 MORTGAGORS: BRUEN DAVID
BRUEN JANE
REGION CODE ADDRESS : 13628 CALBADOS PLACE
01 CITY : SAN DIEGO
STATE/ZIP : CA 92128
MORTGAGE AMOUNT : 335,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 334,888.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,286.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.98100
----------------------------------------------------------------
0 0031627367 MORTGAGORS: PAVLOVICH JACINDA
REGION CODE ADDRESS : 33555 VIA CORVALIAN
01 CITY : DANA POINT
STATE/ZIP : CA 92629
MORTGAGE AMOUNT : 253,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,203.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,730.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031628910 MORTGAGORS: LATTA DOUGLAS
REGION CODE ADDRESS : 16734 KNOLLWOOD DRIVE
01 CITY : (GRANADA HILLS AREA) LOS
STATE/ZIP : CA 91344
MORTGAGE AMOUNT : 336,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,756.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,378.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.05800
----------------------------------------------------------------
0 0031630072 MORTGAGORS: MCLOUGHLIN GEORGE
MCLOUGHLIN MEREDITH
REGION CODE ADDRESS : 684 ANDOVER ROAD
01 CITY : NEWTOWN SQUARE
STATE/ZIP : PA 19073
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,762.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,517,000.00
P & I AMT: 10,512.36
UPB AMT: 1,515,653.85
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 68
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031630551 MORTGAGORS: KAGASOFF BARRY
KAGASOFF ELISE
REGION CODE ADDRESS : 4425 LIBBIT AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 91436
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 649,529.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,600.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 69.14800
----------------------------------------------------------------
0 0031632268 MORTGAGORS: BURNHAM ROBERT
BURNHAM PATRICIA
REGION CODE ADDRESS : 3322 FISHERMANS WAY
01 CITY : BUMPASS
STATE/ZIP : VA 23024
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,598.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,684.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 78.12500
----------------------------------------------------------------
0 0031635170 MORTGAGORS: MARTINEZ TIMOTHY
MARTINEZ LISA
REGION CODE ADDRESS : 28079 W. MAIN STREET
01 CITY : WAUCONDA
STATE/ZIP : IL 60084
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,527.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,773.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.22200
----------------------------------------------------------------
0 0031635279 MORTGAGORS: DEPETRO JOHN
DEPETRO KRISTEN
REGION CODE ADDRESS : 302 OAKLAND BEACH
01 CITY : WESTCHESTER
STATE/ZIP : NY 10580
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,465.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,417.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 76.08600
----------------------------------------------------------------
0 0031636913 MORTGAGORS: HOLM STEWART
HOLM THERESA
REGION CODE ADDRESS : 7770 LANDOWNE DRIVE
01 CITY : DUNWOODY
STATE/ZIP : GA 30350
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,505.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,075.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,818,000.00
P & I AMT: 12,551.04
UPB AMT: 1,814,627.55
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 69
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031637176 MORTGAGORS: HOLLON GARY
HOFFMAN EILEEN
REGION CODE ADDRESS : 1742 GLENNEYRE STREET
01 CITY : LAGUNA BEACH,
STATE/ZIP : CA 92651
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,744.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,075.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 74.28500
----------------------------------------------------------------
0 0031638091 MORTGAGORS: GOZASHTI FARZAD
ZIETER JOHN
REGION CODE ADDRESS : 60 JEWELL STREET
01 CITY : SAN RAFAEL
STATE/ZIP : CA 94901
MORTGAGE AMOUNT : 278,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,361.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,920.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 69.50000
----------------------------------------------------------------
0 0031638273 MORTGAGORS: LERNER BRUCE
LERNER RHONDA
REGION CODE ADDRESS : 22 MARBLEHEAD DRIVE
01 CITY : WEST WINDSOR TOWNSHIP
STATE/ZIP : NJ 08550
MORTGAGE AMOUNT : 327,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,362.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,318.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031638653 MORTGAGORS: QUARVE GARY
QUARVE CAROLYN
REGION CODE ADDRESS : 8 ATHENA TERRACE
01 CITY : PORTSMOUTH
STATE/ZIP : RI 02871
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,808.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,868.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031639040 MORTGAGORS: O'BRIEN JANET
O'BRIEN MARTIN
REGION CODE ADDRESS : 64 WESTCOTT ROAD
01 CITY : PRINCETON
STATE/ZIP : NJ 08540
MORTGAGE AMOUNT : 375,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 375,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,590.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 55.55500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,556,600.00
P & I AMT: 10,773.16
UPB AMT: 1,555,277.55
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 70
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031639081 MORTGAGORS: TANG THOAI
REGION CODE ADDRESS : 7730 EAST AUTRY DRIVE
01 CITY : ANAHEIM
STATE/ZIP : CA 92808
MORTGAGE AMOUNT : 419,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 419,305.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,008.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.98000
----------------------------------------------------------------
0 0031639669 MORTGAGORS: CARO VINCENT
FURIO JOANNE
REGION CODE ADDRESS : 17 INWOOD LANE EAST
01 CITY : CORTLANDT
STATE/ZIP : NY 10566
MORTGAGE AMOUNT : 292,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,282.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,045.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031641301 MORTGAGORS: WALTER JEFFREY
WALTER KATHERINE
REGION CODE ADDRESS : 131 TAYLOR ROAD
01 CITY : TIBURON
STATE/ZIP : CA 94920
MORTGAGE AMOUNT : 550,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 549,581.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,798.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 44.00000
----------------------------------------------------------------
0 0031643364 MORTGAGORS: HAMLIN GREGG
HAMLIN KAREN
REGION CODE ADDRESS : 22 KNOWLTON DRIVE
01 CITY : ACTON
STATE/ZIP : MA 01720
MORTGAGE AMOUNT : 369,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 369,289.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,428.01 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031643828 MORTGAGORS: KROLL MARC
KROLL KIM
REGION CODE ADDRESS : 7330 HYANNIS DRIVE
01 CITY : LOS ANGELES
STATE/ZIP : CA 91307
MORTGAGE AMOUNT : 339,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 338,885.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,313.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 85.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,971,150.00
P & I AMT: 13,593.75
UPB AMT: 1,969,344.69
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 71
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031643950 MORTGAGORS: BUCKLEY ALAN
BUCKLEY ELAINE
REGION CODE ADDRESS : 101 HIXON ROAD
01 CITY : READINGTON
STATE/ZIP : NJ 08870
MORTGAGE AMOUNT : 341,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 341,390.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,390.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 89.99700
----------------------------------------------------------------
0 0031644057 MORTGAGORS: BEARSE AMANDA
REGION CODE ADDRESS : 732 PATTERSON PLACE
01 CITY : PACIFIC PALISADES
STATE/ZIP : CA 90272
MORTGAGE AMOUNT : 1,046,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 1,045,779.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 7,587.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 015
LTV : 70.00000
----------------------------------------------------------------
0 0031644735 MORTGAGORS: CANINO MARK
CANINO ANDREA
REGION CODE ADDRESS : 210 W RITTENHOUSE SQ #1706
01 CITY : PHILADELPHIA
STATE/ZIP : PA 19103
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 500,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,538.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 68.49300
----------------------------------------------------------------
0 0031645435 MORTGAGORS: MILLER WILLIAM
REGION CODE ADDRESS : 43 FISKE ROAD
01 CITY : WELLESLEY
STATE/ZIP : MA 02181
MORTGAGE AMOUNT : 375,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 375,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,622.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 52.08300
----------------------------------------------------------------
0 0031645674 MORTGAGORS: BLAKE ALAN
BLAKE PENDRYL
REGION CODE ADDRESS : 2412 WESLEY AVENUE
01 CITY : OCEAN CITY
STATE/ZIP : NJ 08226
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,753.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,406.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 62.96200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,603,400.00
P & I AMT: 18,546.01
UPB AMT: 2,601,924.65
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 72
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031646060 MORTGAGORS: KOZOL EDWARD
REGION CODE ADDRESS : 9112 W 175TH ST
01 CITY : TINLEY PARK
STATE/ZIP : IL 60477
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,814.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,685.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031646169 MORTGAGORS: WILSON KEITH
WILSON RYIVA
REGION CODE ADDRESS : 2705 ROCKY TRAIL ROAD
01 CITY : DIAMOND BAR
STATE/ZIP : CA 91765
MORTGAGE AMOUNT : 955,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 954,255.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 6,514.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 015
LTV : 69.70800
----------------------------------------------------------------
0 0031646185 MORTGAGORS: HOOD J
HOOD ALEXIS
REGION CODE ADDRESS : 25728 N-E 39TH WAY
01 CITY : REDMOND
STATE/ZIP : WA 98053
MORTGAGE AMOUNT : 376,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 375,411.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,564.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031646474 MORTGAGORS: CHAMBERLAIN NEIL
CHAMBERLAIN SHIRLEY
REGION CODE ADDRESS : 10505 SOUTH MORADA DRIVE
01 CITY : ORANGE
STATE/ZIP : CA 92869
MORTGAGE AMOUNT : 768,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 767,415.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 5,304.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 015
LTV : 64.00000
----------------------------------------------------------------
0 0031647589 MORTGAGORS: WEST DAVID
WEST SHARON
REGION CODE ADDRESS : 4768 CANARY DRIVE
01 CITY : PLEASANTON
STATE/ZIP : CA 94566
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,467.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,319.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,683,000.00
P & I AMT: 18,388.81
UPB AMT: 2,680,364.48
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 73
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031649361 MORTGAGORS: ARMSTRONG BENJAMIN
REGION CODE ADDRESS : 1550 HAWTHORNE LANE
01 CITY : HIGHLAND PARK
STATE/ZIP : IL 60035
MORTGAGE AMOUNT : 1,100,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 1,099,223.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 7,880.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 015
LTV : 68.75000
----------------------------------------------------------------
0 0031649577 MORTGAGORS: BOEHM RICHARD
BOEHM NANCY
REGION CODE ADDRESS : 701 FRONT STREET
01 CITY : LISLE
STATE/ZIP : IL 60532
MORTGAGE AMOUNT : 461,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 460,657.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,223.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.95900
----------------------------------------------------------------
0 0031649791 MORTGAGORS: ORTIZ CHRISTINE
ORTIZ LAWRENCE
REGION CODE ADDRESS : 20371 EAST CRESTLINE DRIVE
01 CITY : WALNUT AREA
STATE/ZIP : CA 91789
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,804.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,643.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031649882 MORTGAGORS: PRINCE KEVIN
PRINCE MARY
REGION CODE ADDRESS : 3082 LUVAN BLVD
01 CITY : GEORGETOWN
STATE/ZIP : SC 29440
MORTGAGE AMOUNT : 523,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 523,020.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,662.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.99800
----------------------------------------------------------------
0 0031650260 MORTGAGORS: VOLPE MICHAEL
REGION CODE ADDRESS : 19 WHISPERING WAY
01 CITY : WARREN
STATE/ZIP : NJ 07059
MORTGAGE AMOUNT : 570,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 569,555.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,888.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.03700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,898,800.00
P & I AMT: 20,298.69
UPB AMT: 2,896,261.81
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 74
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031650948 MORTGAGORS: RAHM DAVID
REGION CODE ADDRESS : 3601 BAYVIEW DRIVE
01 CITY : MANHATTAN BEACH
STATE/ZIP : CA 90266
MORTGAGE AMOUNT : 714,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 713,188.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 5,116.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 015
LTV : 58.30200
----------------------------------------------------------------
0 0031652126 MORTGAGORS: MCGINNIS KEVIN
MCGINNIS KAREN
REGION CODE ADDRESS : 300 WESTOVER DRIVE
01 CITY : MOORESTOWN
STATE/ZIP : NJ 08057
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,766.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,896.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031652571 MORTGAGORS: HINDUJA NARESH
HINDUJA DISHA
REGION CODE ADDRESS : 1 MATTAWANG DRIVE
01 CITY : FRANKLIN PARK
STATE/ZIP : NJ 08873
MORTGAGE AMOUNT : 286,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,609.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,884.41 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 85.94400
----------------------------------------------------------------
0 0031653264 MORTGAGORS: DERDERIAN MICHAEL
DERDERIAN HEATHER
REGION CODE ADDRESS : 63 THORNFIELD WAY
01 CITY : SAUNDERSTOWN
STATE/ZIP : RI 02874
MORTGAGE AMOUNT : 240,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,307.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,620.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 60.12500
----------------------------------------------------------------
0 0031653819 MORTGAGORS: DALE MARC
DALE VALORIE
REGION CODE ADDRESS : 1724 THURSTON DRIVE
01 CITY : LAGUNA BEACH
STATE/ZIP : CA 92651
MORTGAGE AMOUNT : 415,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 413,037.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,866.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 61.48100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,941,550.00
P & I AMT: 13,383.75
UPB AMT: 1,937,909.23
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 75
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031653827 MORTGAGORS: ISLAMI IRADJ
ISLAMI FRIDA
REGION CODE ADDRESS : 4411 ALONZO AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 91316
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,740.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 72.00000
----------------------------------------------------------------
0 0031654643 MORTGAGORS: SQUASSI PAUL
SQUASSI EVA
REGION CODE ADDRESS : 15 PENBROOK CT
01 CITY : SHREWSBURY
STATE/ZIP : NJ 07702
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,944.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.02500
----------------------------------------------------------------
0 0031655012 MORTGAGORS: PENNIAL DAVID
PENNIAL JANE
REGION CODE ADDRESS : 857 VALLEY CREST STREET
01 CITY : LA CANADA FLINTRIDGE
STATE/ZIP : CA 91011
MORTGAGE AMOUNT : 860,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 858,654.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 5,866.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 015
LTV : 66.15300
----------------------------------------------------------------
0 0031655277 MORTGAGORS: PALUMBO FRANK
REGION CODE ADDRESS : 3 INDIAN HILL (FKA 620 CALEDONIA RD
01 CITY : DIX HILLS
STATE/ZIP : NY 11746
MORTGAGE AMOUNT : 367,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 366,727.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,566.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 64.72600
----------------------------------------------------------------
0 0031655442 MORTGAGORS: KWON O.
KWON MYUNG
REGION CODE ADDRESS : 5035 OCEANVIEW BOULEVARD
01 CITY : LA CANADA-FLINTRIDGE
STATE/ZIP : CA 91011
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,741.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,968.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,049,000.00
P & I AMT: 14,085.97
UPB AMT: 2,045,122.80
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 76
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031655707 MORTGAGORS: MCLAMB RITCHIE
MCLAMB JANET
REGION CODE ADDRESS : 1508 MIDHURST COURT
01 CITY : RALEIGH
STATE/ZIP : NC 27614
MORTGAGE AMOUNT : 262,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,589.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,787.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 92.25300
----------------------------------------------------------------
0 0031655871 MORTGAGORS: VIENNA RICHARD
REGION CODE ADDRESS : 9627 ALCOSTA BOULEVARD
01 CITY : SAN RAMON
STATE/ZIP : CA 94583
MORTGAGE AMOUNT : 270,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,299.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,891.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.40500
----------------------------------------------------------------
0 0031655905 MORTGAGORS: LOSER JEFFREY
LOSER LOIS
REGION CODE ADDRESS : 2558 DAVIDSONVILLE ROAD
01 CITY : GAMBRILLS
STATE/ZIP : MD 21054
MORTGAGE AMOUNT : 351,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,202.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,545.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031656069 MORTGAGORS: NOTARO PAT
NOTARO STELLA
REGION CODE ADDRESS : 3574 LANGE RANCH PARKWAY
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91362
MORTGAGE AMOUNT : 375,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 374,949.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,528.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 89.99800
----------------------------------------------------------------
0 0031656788 MORTGAGORS: SERINO BRIAN
REGION CODE ADDRESS : 5 DRUMMOND COURT
01 CITY : DANVERS
STATE/ZIP : MA 01923
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,784.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,819.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 66.66600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,528,750.00
P & I AMT: 10,570.86
UPB AMT: 1,526,826.05
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 77
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031656879 MORTGAGORS: FORGUES JORGE
THOMAE-FORGUES MARIA
REGION CODE ADDRESS : 43756 MC COLLOUGH COURT
01 CITY : ASHBURN
STATE/ZIP : VA 20147
MORTGAGE AMOUNT : 307,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,591.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,022.36 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.99800
----------------------------------------------------------------
0 0031656945 MORTGAGORS: TURLEY JONATHAN
TURLEY LESLIE
REGION CODE ADDRESS : 720 SOUTH OVERLOOK DRIVE
01 CITY : ALEXANDRIA
STATE/ZIP : PA 22305
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,783.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,968.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 77.02700
----------------------------------------------------------------
0 0031657109 MORTGAGORS: NAVARRO CARL
NAVARRO THERESA
REGION CODE ADDRESS : 25820 CLEAR SPRINGS COURT
01 CITY : CASTRO VALLEY
STATE/ZIP : CA 94552
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,995.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 78.51500
----------------------------------------------------------------
0 0031657182 MORTGAGORS: HERZLINGER DAVID
SPUDICK JEANNE
REGION CODE ADDRESS : 1 SEAHAVEN
01 CITY : NEWPORT COAST
STATE/ZIP : CA 92657
MORTGAGE AMOUNT : 711,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 710,985.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 5,035.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 015
LTV : 38.45900
----------------------------------------------------------------
0 0031657463 MORTGAGORS: MILLER MICHAEL
MILLER SUSAN
REGION CODE ADDRESS : 1355 IDYLBERRY ROAD
01 CITY : SAN RAFAEL
STATE/ZIP : CA 94903
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,733.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,417.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,954,350.00
P & I AMT: 13,440.02
UPB AMT: 1,953,093.20
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 78
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031657737 MORTGAGORS: JACKSON WILLIE
JACKSON MARCIA
REGION CODE ADDRESS : 3432 CAMINO CORTE
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 416,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 416,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,873.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031657836 MORTGAGORS: DAVIS MARK
DAVIS MICHELE
REGION CODE ADDRESS : 21 GRANDBRIAR
01 CITY : ALISO VIEJO
STATE/ZIP : CA 92656
MORTGAGE AMOUNT : 265,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,392.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,811.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031657992 MORTGAGORS: KANNEY JOHN
KANNEY PATTI
REGION CODE ADDRESS : 160 HUNTINGTON PLACE
01 CITY : WAYNESBORO
STATE/ZIP : VA 22980
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,777.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,016.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031658065 MORTGAGORS: LEONARD ANDREW
LEONARD MILDRED
REGION CODE ADDRESS : 13929 CLARENDON POINTE
01 CITY : HUNTERSVILLE
STATE/ZIP : NC 28078
MORTGAGE AMOUNT : 270,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,199.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,890.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031658768 MORTGAGORS: LAYTON GRANT
LAYTON EILEEN
REGION CODE ADDRESS : 3448 CAMINO ALEGRE
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 332,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 332,029.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,382.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 75.56800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,576,500.00
P & I AMT: 10,974.62
UPB AMT: 1,575,399.04
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 79
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031658818 MORTGAGORS: SHINAGAWA ROBERT
SHINAGAWA EMILY
REGION CODE ADDRESS : 7969 PASEO ESMERADO
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 537,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 537,087.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,624.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 69.99700
----------------------------------------------------------------
0 0031659048 MORTGAGORS: MCMAHON MICHAEL
MCMAHON LINDA
REGION CODE ADDRESS : 211 DAVIS HILL ROAD
01 CITY : WESTON
STATE/ZIP : CT 06883
MORTGAGE AMOUNT : 550,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 550,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,751.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 58.51000
----------------------------------------------------------------
0 0031659345 MORTGAGORS: PAPPALARDO DAN
REGION CODE ADDRESS : 1327 MALTMAN AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90026
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,804.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,643.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031660020 MORTGAGORS: SWINNEY ROGER
SWINNEY CHRISTINE
REGION CODE ADDRESS : 7735 SOUTH BISCAY STREET
01 CITY : AURORA
STATE/ZIP : CO 80016
MORTGAGE AMOUNT : 405,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 405,375.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,733.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 72.44600
----------------------------------------------------------------
0 0031660665 MORTGAGORS: BERECK BRIAN
BERECK KATHLEEN
REGION CODE ADDRESS : 54 FRANKLIN STREET
01 CITY : NORTHPORT
STATE/ZIP : NY 11768
MORTGAGE AMOUNT : 294,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 293,781.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,055.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,031,650.00
P & I AMT: 13,809.09
UPB AMT: 2,030,049.30
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 80
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031661275 MORTGAGORS: WILKERSON CHRISTOPHER
WILKERSON MITZY
REGION CODE ADDRESS : 1080 VIA CORDOVA
01 CITY : SAN PEDRO AREA
STATE/ZIP : CA 90732
MORTGAGE AMOUNT : 333,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 333,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,276.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031661440 MORTGAGORS: GUMP JAMIESON
GUMP CHERYL
REGION CODE ADDRESS : 21514 GOLDEN AUTUMN PLACE
01 CITY : ASHBURN
STATE/ZIP : VA 20148
MORTGAGE AMOUNT : 256,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,589.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,708.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031661507 MORTGAGORS: BETT CHRISTOPHER
BETT CLAIRE
REGION CODE ADDRESS : 92 CLINTON STREET
01 CITY : HOPKINTON
STATE/ZIP : MA 01748
MORTGAGE AMOUNT : 230,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 229,578.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,835.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/18
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.71700
----------------------------------------------------------------
0 0031661556 MORTGAGORS: GOLD KENNETH
GOLD SHEILA
REGION CODE ADDRESS : 4641 TRILLIUM TRAIL
01 CITY : ALLISON PARK
STATE/ZIP : PA 15101
MORTGAGE AMOUNT : 258,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,404.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,787.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 94.62500
----------------------------------------------------------------
0 0031661606 MORTGAGORS: MEANLEY WILLIAM
MEANLEY PATRICIA
REGION CODE ADDRESS : 1610 LOS ALTOS ROAD
01 CITY : SAN DIEGO
STATE/ZIP : CA 92109
MORTGAGE AMOUNT : 480,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 479,616.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,233.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,559,350.00
P & I AMT: 10,841.90
UPB AMT: 1,557,938.80
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 81
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031661671 MORTGAGORS: YASS DAVID
YASS KARA
REGION CODE ADDRESS : 32 WARNOCK DRIVE
01 CITY : WESTPORT
STATE/ZIP : CT 06880
MORTGAGE AMOUNT : 415,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 414,676.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,831.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 69.16600
----------------------------------------------------------------
0 0031661713 MORTGAGORS: SMITH DAVID
SMITH DONNA
REGION CODE ADDRESS : 8 VOSE LANE
01 CITY : WALPOLE
STATE/ZIP : MA 02081
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,609.48 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 77.77700
----------------------------------------------------------------
0 0031661770 MORTGAGORS: BOULDIN PHILIP
BOULDIN ELIZABETH
REGION CODE ADDRESS : 84 BRENTWOOD CIRCLE
01 CITY : NORTH ANDOVER
STATE/ZIP : MA 01845
MORTGAGE AMOUNT : 286,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,975.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.44400
----------------------------------------------------------------
0 0031661861 MORTGAGORS: MACLEAN ALEXANDER
REGION CODE ADDRESS : 53 WINTER STREET
01 CITY : LINCOLN
STATE/ZIP : MA 01773
MORTGAGE AMOUNT : 258,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,900.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,788.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 66.38400
----------------------------------------------------------------
0 0031661986 MORTGAGORS: ASAY MARK
ASAY KRISTIN
REGION CODE ADDRESS : 1409 WILDROSE DRIVE
01 CITY : LONGMONT
STATE/ZIP : CO 80503
MORTGAGE AMOUNT : 254,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,460.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,760.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 86.98842
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,459,750.00
P & I AMT: 9,964.20
UPB AMT: 1,459,037.22
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 82
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031662109 MORTGAGORS: FEINGOLD BRIAN
FEINFOLD KAREN
REGION CODE ADDRESS : 66 DIANA'S TRAIL
01 CITY : ROSLYN
STATE/ZIP : NY 11576
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,687.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,728.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.11700
----------------------------------------------------------------
0 0031662117 MORTGAGORS: MATIAS CONNIE
LUNDE CRAIG
REGION CODE ADDRESS : 4263 257TH PLACE SOUTHEAST
01 CITY : ISSAQUAH
STATE/ZIP : WA 98029
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,803.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,719.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031662257 MORTGAGORS: BURNES GORDON
TAPSON SUZANNE
REGION CODE ADDRESS : 72 PINCKNEY STREET UNIT #4
01 CITY : BOSTON
STATE/ZIP : MA 02114
MORTGAGE AMOUNT : 425,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 425,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,935.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 60.71400
----------------------------------------------------------------
0 0031662307 MORTGAGORS: TARCZANIN DONALD
TARCZANIN SUSAN
REGION CODE ADDRESS : 126 OLD MILL ROAD
01 CITY : AVON
STATE/ZIP : CT 06001
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,387.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 78.12500
----------------------------------------------------------------
0 0031662372 MORTGAGORS: WARNER ANDREW
WARNER ANN
REGION CODE ADDRESS : 101 HARTWELL ROAD
01 CITY : CARLISLE
STATE/ZIP : MA 01741
MORTGAGE AMOUNT : 460,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 459,641.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,138.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 73.60000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,887,000.00
P & I AMT: 12,908.80
UPB AMT: 1,886,132.53
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 83
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031662398 MORTGAGORS: NEEB MARK
REGION CODE ADDRESS : 5006 WEATHERHILL ROAD SW
01 CITY : ROCHESTER
STATE/ZIP : MN 55902
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,756.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,210.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031662406 MORTGAGORS: CUTLIFF CHRIS
REGION CODE ADDRESS : 3223 VIA SOLANA
01 CITY : ESCONDIDO
STATE/ZIP : CA 92029
MORTGAGE AMOUNT : 323,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 322,618.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,259.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031662422 MORTGAGORS: CLAGUE LAWRENCE
CLAGUE LAURA
REGION CODE ADDRESS : 370 PARK RANCH GLEN
01 CITY : ESCONDIDO
STATE/ZIP : CA 92025
MORTGAGE AMOUNT : 352,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 352,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,371.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 70.40000
----------------------------------------------------------------
0 0031662497 MORTGAGORS: MONTMINY THOMAS
MONTMINY THERESA
REGION CODE ADDRESS : 28 INDEPENDENCE DRIVE
01 CITY : WALPOLE
STATE/ZIP : MA 02081
MORTGAGE AMOUNT : 394,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 394,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,687.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.04700
----------------------------------------------------------------
0 0031662885 MORTGAGORS: MANUS DEBORAH
MANUS PETER
REGION CODE ADDRESS : 9 FELSDALE CLOSE
01 CITY : WINCHESTER
STATE/ZIP : MA 01890
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 340,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,377.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 66.66600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,729,100.00
P & I AMT: 11,905.92
UPB AMT: 1,728,375.45
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 84
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031663636 MORTGAGORS: THOMASMA REIN
FERREIRA ANDRIANA
REGION CODE ADDRESS : 431 2ND STREET
01 CITY : HERMOSA BEACH
STATE/ZIP : CA 90254
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,804.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,705.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 69.44400
----------------------------------------------------------------
0 0031663644 MORTGAGORS: CAPLAN MARSHALL
CAPLAN LESLIE
REGION CODE ADDRESS : 2802 RINGE LANE #A
01 CITY : REDONDO BEACH
STATE/ZIP : CA 90278
MORTGAGE AMOUNT : 348,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 347,700.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,257.12 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031663792 MORTGAGORS: LIBENSON MARK
MUTO LISA
REGION CODE ADDRESS : 62 STANDISH ROAD
01 CITY : WELLESLEY
STATE/ZIP : MA 02181
MORTGAGE AMOUNT : 382,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 382,208.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,641.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031664113 MORTGAGORS: BERUBE BRIAN
WOLFF SUSAN
REGION CODE ADDRESS : 7 OLD FARM ROAD
01 CITY : DOVER
STATE/ZIP : MA 02030
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,905.10 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 50.43400
----------------------------------------------------------------
0 0031664295 MORTGAGORS: KENNEDY BARBARA
KENNEDY TERRENCE
REGION CODE ADDRESS : 14 WRIGHT FARM ROAD
01 CITY : CONCORD
STATE/ZIP : MA 01742
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 380,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,496.33 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 74.50900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,650,500.00
P & I AMT: 11,005.83
UPB AMT: 1,649,714.30
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 85
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031664519 MORTGAGORS: VISPERAS VICTOR
VISPERAS JENNIFER
REGION CODE ADDRESS : 182 WOODBOROUGH WAY
01 CITY : SAN RAMON
STATE/ZIP : CA 94583
MORTGAGE AMOUNT : 362,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 362,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,441.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99000
----------------------------------------------------------------
0 0031664634 MORTGAGORS: BILLINGSLEY KEVIN
CHA CHRISTINE
REGION CODE ADDRESS : 1824 FEDERAL AVENUE EAST
01 CITY : SEATTLE
STATE/ZIP : WA 98102
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,687.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,728.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031665193 MORTGAGORS: FREEDMAN MICHAEL
FREEDMAN CHERYL
REGION CODE ADDRESS : 7 CEDAR DRIVE
01 CITY : TUXEDO
STATE/ZIP : NY 10987
MORTGAGE AMOUNT : 354,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 353,737.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,475.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 87.08500
----------------------------------------------------------------
0 0031665417 MORTGAGORS: BOUGHRUM RICHARD
BOUGHRUM ALISON
REGION CODE ADDRESS : 28 OLD TOM NEVERS ROAD
01 CITY : NANTUCKET
STATE/ZIP : MA 02554
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,530.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,046.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 62.50000
----------------------------------------------------------------
0 0031665482 MORTGAGORS: SHACKELFORD DOUGLAS
SHACKELFORD MARY
REGION CODE ADDRESS : 5312 43RD STREET N.W.
01 CITY : WASHINGTON
STATE/ZIP : DC 20015
MORTGAGE AMOUNT : 394,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 394,492.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,693.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,811,200.00
P & I AMT: 12,385.25
UPB AMT: 1,809,847.79
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 86
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031665516 MORTGAGORS: SUTHERLAND DEAN
GOLDBERG BEVERLY
REGION CODE ADDRESS : 4 REDWOOD CIRCLE
01 CITY : BOXFORD
STATE/ZIP : MA 01921
MORTGAGE AMOUNT : 295,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,137.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,016.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 92.37500
----------------------------------------------------------------
0 0031665565 MORTGAGORS: TESORIERO E
REINGOLD MICHAEL
REGION CODE ADDRESS : 11 DURHAM ST #4
01 CITY : BOSTON
STATE/ZIP : MA 02115
MORTGAGE AMOUNT : 261,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,802.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 59.31800
----------------------------------------------------------------
0 0031665961 MORTGAGORS: GRANAGHAN THOMAS
GRANAGHAN PATRICIA
REGION CODE ADDRESS : 54 MATTAWANG DRIVE
01 CITY : SOMERSET
STATE/ZIP : NJ 08873
MORTGAGE AMOUNT : 272,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,987.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,856.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 78.26500
----------------------------------------------------------------
0 0031665979 MORTGAGORS: BURKART RANDOLPH
BURKART PAMELA
REGION CODE ADDRESS : 45 VAIL TERRACE
01 CITY : BRANCHBURG TWP
STATE/ZIP : NJ 08876
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,572.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,933.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031666019 MORTGAGORS: BOONE MARK
BOONE FRANCESCA
REGION CODE ADDRESS : 28 PARKVIEW ROAD
01 CITY : CRANBURY
STATE/ZIP : NJ 08512
MORTGAGE AMOUNT : 324,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,316.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,271.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,433,600.00
P & I AMT: 9,881.02
UPB AMT: 1,432,014.01
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 87
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031666100 MORTGAGORS: NITTING FREDERICK
NITTING MICHELLE
REGION CODE ADDRESS : 23 SANDY HILL ROAD
01 CITY : CHATHAM
STATE/ZIP : NJ 07928
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,737.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,049.62 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 73.41100
----------------------------------------------------------------
0 0031666290 MORTGAGORS: NICOLETTI SUSAN
NICOLETTI CARMINE
REGION CODE ADDRESS : 20 CARLTON ROAD
01 CITY : GREAT NECK
STATE/ZIP : NY 11021
MORTGAGE AMOUNT : 450,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 449,612.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,918.69 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 70.86600
----------------------------------------------------------------
0 0031666340 MORTGAGORS: EVERETT WILLIAM
EVERETT ROSE MARY
REGION CODE ADDRESS : 260 SILVER ROAD
01 CITY : EASTON
STATE/ZIP : CT 06612
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,732.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,517.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031666514 MORTGAGORS: PEEPLES VIRENIA
REGION CODE ADDRESS : 28310 FOOTHILL DRIVE
01 CITY : AGOURA HILLS
STATE/ZIP : CA 91301
MORTGAGE AMOUNT : 435,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 435,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,004.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.37900
----------------------------------------------------------------
0 0031666761 MORTGAGORS: GASH JOHN
GASH LISA
REGION CODE ADDRESS : 3353 EDINBURGH DRIVE
01 CITY : LIVERMORE
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 415,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 414,834.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,867.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,972,150.00
P & I AMT: 13,357.26
UPB AMT: 1,970,917.37
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 88
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031666795 MORTGAGORS: YRIARTE KEVIN
YRIARTE GEANENE
REGION CODE ADDRESS : 20694 EAST RANCHO SAN JOSE
01 CITY : COVINA
STATE/ZIP : CA 91724
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,828.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031667066 MORTGAGORS: PIVEC MARY
PIVEC HOWARD
REGION CODE ADDRESS : 1050 STONINGTON DRIVE
01 CITY : ARNOLD
STATE/ZIP : MD 21012
MORTGAGE AMOUNT : 367,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 366,453.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,566.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.89700
----------------------------------------------------------------
0 0031667629 MORTGAGORS: ILARRAZA JOSE
ILARRAZA CARMEN
REGION CODE ADDRESS : 216 WOODCLIFF BLVD
01 CITY : MORGANVILLE
STATE/ZIP : NJ 07751
MORTGAGE AMOUNT : 227,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 227,700.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,572.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.11400
----------------------------------------------------------------
0 0031667678 MORTGAGORS: SARABI RON
REGION CODE ADDRESS : 16532 GRIMAND LANE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92649
MORTGAGE AMOUNT : 748,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 748,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 5,230.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 015
LTV : 55.40700
----------------------------------------------------------------
0 0031667686 MORTGAGORS: LOPINTO ROSARIO
LOPINTO MARIA
REGION CODE ADDRESS : 11 NORWOOD COURT
01 CITY : MORRIS TOWNSHIP
STATE/ZIP : NJ 07960
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,777.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,944.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 68.67400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,895,700.00
P & I AMT: 13,141.35
UPB AMT: 1,894,931.24
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 89
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031668452 MORTGAGORS: MEYERSON MATTHEW
MEYERSON SANDRA
REGION CODE ADDRESS : 307 INDEPENDENCE ROAD
01 CITY : CONCORD
STATE/ZIP : MA 01742
MORTGAGE AMOUNT : 439,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 439,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,069.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 50.08500
----------------------------------------------------------------
0 0031668759 MORTGAGORS: KEANE STEVEN
KEANE BROOKE
REGION CODE ADDRESS : 13 QUINTREE LANE
01 CITY : MELVILLE
STATE/ZIP : NY 11747
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,019.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031668791 MORTGAGORS: WALSH MICHAEL
WALSH CYNTHIA
REGION CODE ADDRESS : 98 FIELDSTONE ROAD
01 CITY : STAMFORD
STATE/ZIP : CT 06902
MORTGAGE AMOUNT : 326,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 325,712.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,087.41 OUTSIDE CONV DATE :
LIFETIME RATE : 6.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031668866 MORTGAGORS: DAY TIMOTHY
SENTNER-DAY NANCY
REGION CODE ADDRESS : 45 VAN HOUTEN FIELDS
01 CITY : WEST NYACK
STATE/ZIP : NY 10994
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,784.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,621.50 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 64.10200
----------------------------------------------------------------
0 0031668890 MORTGAGORS: KAUFMAN ANDREW
KAUFMAN KELLY
REGION CODE ADDRESS : 42 SLOCUM CRESCENT
01 CITY : FOREST HILLS
STATE/ZIP : NY 11375
MORTGAGE AMOUNT : 324,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,635,000.00
P & I AMT: 11,035.49
UPB AMT: 1,634,497.13
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 90
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031668908 MORTGAGORS: LINDER BARBARA
LINDER JEFFREY
REGION CODE ADDRESS : 86 ONDERDONK AVENUE
01 CITY : MANHATTAN
STATE/ZIP : NY 11030
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,771.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,072.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 70.42200
----------------------------------------------------------------
0 0031668973 MORTGAGORS: REN ROSANNE
REGION CODE ADDRESS : 1326 2ND STREET,
01 CITY : MANHATTAN BEACH,
STATE/ZIP : CA 90266
MORTGAGE AMOUNT : 335,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 334,925.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,230.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031669013 MORTGAGORS: CHUN LAURENCE
CHUN TALIN
REGION CODE ADDRESS : 2313 HUNTINGTON LANE NO.A
01 CITY : REDONDO BEACH
STATE/ZIP : CA 90278
MORTGAGE AMOUNT : 268,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,995.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,852.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031669930 MORTGAGORS: BLAKE THOMAS
BLAKE JACQUIE
REGION CODE ADDRESS : 2563 PEPPERDALE DRIVE
01 CITY : ROWLAND HEIGHTS
STATE/ZIP : CA 91748
MORTGAGE AMOUNT : 251,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,208.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,736.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 76.18100
----------------------------------------------------------------
0 0031670714 MORTGAGORS: DEVEREUX JOHN
DEVEREUX ROBIN
REGION CODE ADDRESS : 194 PINE STREET
01 CITY : MEDFIELD
STATE/ZIP : MA 02052
MORTGAGE AMOUNT : 450,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 450,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,031.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 64.28500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,604,800.00
P & I AMT: 10,922.63
UPB AMT: 1,603,901.56
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 91
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031670789 MORTGAGORS: WALKER BRUCE
CORT ALICE
REGION CODE ADDRESS : 85 COLUMBINE ROAD
01 CITY : MILTON
STATE/ZIP : MA 02186
MORTGAGE AMOUNT : 544,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 544,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,711.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031670961 MORTGAGORS: WILSEY WALTER
REGION CODE ADDRESS : 7700 ISLAND CREEK COURT
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22315
MORTGAGE AMOUNT : 260,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,646.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,779.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.86500
----------------------------------------------------------------
0 0031670995 MORTGAGORS: BAIME DAVID
BAIME STACY
REGION CODE ADDRESS : 17 LORFFLER LANE
01 CITY : MEDFIELD
STATE/ZIP : MA 02052
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,899.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 53.92100
----------------------------------------------------------------
0 0031671027 MORTGAGORS: LIAZOS ANDREW
LIAZOS MARGARET
REGION CODE ADDRESS : 34 LONG DRIVE
01 CITY : WESTBORO
STATE/ZIP : MA 01581
MORTGAGE AMOUNT : 335,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,637.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,291.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99500
----------------------------------------------------------------
0 0031671092 MORTGAGORS: WIDAWSKI THOMAS
BILLITTERI-WIDAWSKI TERESAMARIA
REGION CODE ADDRESS : 5460 N. 115TH STREET
01 CITY : LONGMONT
STATE/ZIP : CO 80501
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,754.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,995.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 66.66600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,715,750.00
P & I AMT: 11,677.21
UPB AMT: 1,715,038.56
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 92
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031671167 MORTGAGORS: HAMED JOSEPH
HAMED JENNIFER
REGION CODE ADDRESS : 2100 FOX TRAIL COURT
01 CITY : REISTERSTOWN
STATE/ZIP : MD 21136
MORTGAGE AMOUNT : 302,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 302,669.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,092.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.97500
----------------------------------------------------------------
0 0031671217 MORTGAGORS: LOWRY WILLIAM
LOWRY ELAINE
REGION CODE ADDRESS : 22 AUTUMN COURT
01 CITY : UPPER SADDLE RIVER
STATE/ZIP : NJ 07458
MORTGAGE AMOUNT : 647,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 646,592.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,197.41 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 68.12100
----------------------------------------------------------------
0 0031671258 MORTGAGORS: DEMONT MARK
REGION CODE ADDRESS : 101 WACHUSETT ROAD
01 CITY : NEEDHAM
STATE/ZIP : MA 02194
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,066.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 89.84600
----------------------------------------------------------------
0 0031671498 MORTGAGORS: FRANZBLAU HOWARD
FRANZBLAU SUZANNE
REGION CODE ADDRESS : 8 RUSTIC DRIVE
01 CITY : PENNINGTON
STATE/ZIP : NJ 08534
MORTGAGE AMOUNT : 600,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 600,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,093.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 69.44444
----------------------------------------------------------------
0 0031671548 MORTGAGORS: CALDWELL JOHN
CALDWELL EILEEN
REGION CODE ADDRESS : 1 VIA DI NOLA
01 CITY : LAGUNA NIGUEL
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,772.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,229.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 56.25000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,157,050.00
P & I AMT: 14,678.84
UPB AMT: 2,156,034.33
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 93
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031671688 MORTGAGORS: COCKRUM CHRISTOPHER
MARASA BRENDA
REGION CODE ADDRESS : 260 SYCAMORE RIDGE STREET
01 CITY : SIMI VALLEY
STATE/ZIP : CA 93065
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,779.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,151.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031672041 MORTGAGORS: HAMEL PETER
HAMEL JAYNE
REGION CODE ADDRESS : 8 BRIDLE PATH
01 CITY : WAYLAND
STATE/ZIP : MA 01778
MORTGAGE AMOUNT : 592,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 592,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,142.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 73.13500
----------------------------------------------------------------
0 0031672223 MORTGAGORS: HALVORSON MICHAEL
HALVORSON DIANA
REGION CODE ADDRESS : 25115 SE 133RD WAY
01 CITY : ISSAQUAH
STATE/ZIP : WA 98027
MORTGAGE AMOUNT : 355,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 355,222.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,425.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031672264 MORTGAGORS: HOLT NICHOLAS
HOLT ANNE
REGION CODE ADDRESS : 1039-36TH AVENUE EAST
01 CITY : SEATTLE
STATE/ZIP : WA 98112
MORTGAGE AMOUNT : 460,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 459,667.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,255.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 46.00000
----------------------------------------------------------------
0 0031672322 MORTGAGORS: BEVILACQUA PAUL
BEVILACQUA GINA
REGION CODE ADDRESS : 833 CORDILLERAS AVENUE
01 CITY : SAN CARLOS
STATE/ZIP : CA 94070
MORTGAGE AMOUNT : 258,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,303.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,785.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 49.90300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,970,400.00
P & I AMT: 13,760.23
UPB AMT: 1,969,373.02
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 94
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031672629 MORTGAGORS: ARNOLD STEPHEN
ARNOLD LORIE
REGION CODE ADDRESS : 12610 ARENA COURT
01 CITY : RANCHO CUCAMONGA
STATE/ZIP : CA 91739
MORTGAGE AMOUNT : 321,515.00 OPTION TO CONVERT :
UNPAID BALANCE : 321,024.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,220.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 94.99900
----------------------------------------------------------------
0 0031673072 MORTGAGORS: BERO CYNTHIA
FARRELL SHAWN
REGION CODE ADDRESS : 53 MILLBROOK ROAD
01 CITY : MEDFIELD
STATE/ZIP : MA 02052
MORTGAGE AMOUNT : 253,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,107.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,749.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 67.54600
----------------------------------------------------------------
0 0031673783 MORTGAGORS: CARBINE KEITH
BLOOMGREN MICHELE
REGION CODE ADDRESS : 4249 PEACH SLOPE RD
01 CITY : MOORPARK
STATE/ZIP : CA 93021
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,800.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031674039 MORTGAGORS: KARLESSES GEORGE
KARLESSES KATHLEENE
REGION CODE ADDRESS : 1202 BRECKENRIDGE COURT
01 CITY : RIVA
STATE/ZIP : MD 21140
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,824.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,776.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031674229 MORTGAGORS: JORDAN KENNETH
JORDAN GEORGINA
REGION CODE ADDRESS : 1125 PAULLUS DRIVE
01 CITY : HOLLISTER
STATE/ZIP : CA 95023
MORTGAGE AMOUNT : 432,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 431,372.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,057.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,518,815.00
P & I AMT: 10,605.44
UPB AMT: 1,517,329.08
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 95
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031674278 MORTGAGORS: BEAUBIEN RONALD
BEAUBIEN VICKI
REGION CODE ADDRESS : 732 MARGARITA AVENUE
01 CITY : CORONADO
STATE/ZIP : CA 92118
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 649,505.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,489.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 46.42800
----------------------------------------------------------------
0 0031674658 MORTGAGORS: STEBBINS WILLIAM
REGION CODE ADDRESS : 5627 GLENSTONE WAY
01 CITY : SAN DIEGO
STATE/ZIP : CA 92121
MORTGAGE AMOUNT : 254,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,315.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,801.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 72.71400
----------------------------------------------------------------
0 0031674674 MORTGAGORS: ELLIOTT GARY
ELLIOTT LISA
REGION CODE ADDRESS : 10 CARDINAL LANE
01 CITY : WESTPORT
STATE/ZIP : CT 06880
MORTGAGE AMOUNT : 505,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 505,095.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,405.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 69.72400
----------------------------------------------------------------
0 0031674963 MORTGAGORS: NAVA MARY
NAVA FRANCISCO
REGION CODE ADDRESS : 4101 BECKLEY COURT
01 CITY : COLLEYVILLE
STATE/ZIP : TX 76034
MORTGAGE AMOUNT : 228,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 227,813.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,516.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 60.00000
----------------------------------------------------------------
0 0031675218 MORTGAGORS: SCHRUBEN THOMAS
SCHRUBEN ANN
REGION CODE ADDRESS : 15 WIEUCA TRACE
01 CITY : ATLANTA
STATE/ZIP : GA 30342
MORTGAGE AMOUNT : 368,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 367,719.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,541.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,006,000.00
P & I AMT: 13,754.96
UPB AMT: 2,004,450.05
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 96
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031675887 MORTGAGORS: RICHARDSON ROBERT
RICHARDSON GAIL
REGION CODE ADDRESS : 606 PORTLEDGE DRIVE
01 CITY : RADNOR
STATE/ZIP : PA 19010
MORTGAGE AMOUNT : 566,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 566,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,813.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 77.53400
----------------------------------------------------------------
0 0031676489 MORTGAGORS: FELLOWS DANIEL
FELLOWS KATHERINE
REGION CODE ADDRESS : 3012 MECHUM BANKS DRIVE
01 CITY : CHARLOTTESVILLE
STATE/ZIP : VA 22901
MORTGAGE AMOUNT : 378,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 377,997.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,548.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 69.99000
----------------------------------------------------------------
0 0031676760 MORTGAGORS: GOULD JEFFREY
GOULD CHRISTINE
REGION CODE ADDRESS : 7 PRAIRIE DUNES COURT
01 CITY : SKILLMAN
STATE/ZIP : NJ 08558
MORTGAGE AMOUNT : 439,879.00 OPTION TO CONVERT :
UNPAID BALANCE : 439,879.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,075.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.99900
----------------------------------------------------------------
0 0031677032 MORTGAGORS: PUGA KATHLEEN
REGION CODE ADDRESS : 6669 COWBOY STREET
01 CITY : SIMI VALLEY
STATE/ZIP : CA 93063
MORTGAGE AMOUNT : 256,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,749.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031677099 MORTGAGORS: PISKIN SCOTT
PISKIN MICHELE
REGION CODE ADDRESS : 90 WEDGEMERE ROAD
01 CITY : STAMFORD
STATE/ZIP : CT 06905
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 379,696.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,560.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,020,679.00
P & I AMT: 13,747.54
UPB AMT: 2,020,072.60
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 97
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031677750 MORTGAGORS: BOWEN JAMES
BOWEN LORI
REGION CODE ADDRESS : 625 EAST JUNIPER LANE
01 CITY : MEQUON
STATE/ZIP : WI 53092
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,760.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,175.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 41.44700
----------------------------------------------------------------
0 0031677883 MORTGAGORS: WISENTANER RICHARD
WISENTANER JACALYN
REGION CODE ADDRESS : 325 WOODWARD STREET
01 CITY : NEWTON
STATE/ZIP : MA 02468
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 400,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,762.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 74.07400
----------------------------------------------------------------
0 0031678394 MORTGAGORS: MARTIN REED
MARTIN JANE
REGION CODE ADDRESS : 1149 MANOR DRIVE
01 CITY : SONOMA
STATE/ZIP : CA 95476
MORTGAGE AMOUNT : 404,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 403,676.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,721.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031678485 MORTGAGORS: QUINTON JOHN
QUINTON LESLIE
REGION CODE ADDRESS : 33451 DOSINIA DRIVE
01 CITY : DANA POINT
STATE/ZIP : CA 92629
MORTGAGE AMOUNT : 365,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 365,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,520.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 63.47800
----------------------------------------------------------------
0 0031678626 MORTGAGORS: FREEDMAN MARK
FREEDMAN PHYLLIS
REGION CODE ADDRESS : 3 WHISTLER WAY
01 CITY : MARLBORO TWP
STATE/ZIP : NJ 07746
MORTGAGE AMOUNT : 300,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,050.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,046.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 57.15200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,784,050.00
P & I AMT: 12,228.01
UPB AMT: 1,783,487.23
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 98
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031678741 MORTGAGORS: SUTER KENNETH
SUTER NICOLE
REGION CODE ADDRESS : 8 FARM BROOK COURT
01 CITY : PERRY HALL
STATE/ZIP : MD 21128
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,762.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 88.88800
----------------------------------------------------------------
0 0031679509 MORTGAGORS: KENNEY JOSEPH
KENNEY DARRAH
REGION CODE ADDRESS : 33 WARD AVENUE
01 CITY : RUMSON
STATE/ZIP : NJ 07760
MORTGAGE AMOUNT : 470,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 470,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,206.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031679533 MORTGAGORS: TROUTMAN GARY
TROUTMAN JACQUELINE
REGION CODE ADDRESS : 4 SAINT KITTS WAY
01 CITY : CORONADO
STATE/ZIP : CA 92118
MORTGAGE AMOUNT : 313,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 313,329.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,034.01 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031679772 MORTGAGORS: MARCUS JEFFREY
BARRETT TERRI
REGION CODE ADDRESS : 901 BLUE SPRING DRIVE
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91361
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,740.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,189.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 71.03800
----------------------------------------------------------------
0 0031679905 MORTGAGORS: FEHRING-WHITE PATRICIA
REGION CODE ADDRESS : 66 SUMMERHILL ROAD
01 CITY : WAYNE
STATE/ZIP : NJ 07470
MORTGAGE AMOUNT : 359,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,452.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,788,100.00
P & I AMT: 12,119.75
UPB AMT: 1,787,332.60
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 99
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031679954 MORTGAGORS: CALEB PAUL
CALEB KELLY
REGION CODE ADDRESS : 27 RAPOSA
01 CITY : RANCHO SANTA MARGARITA
STATE/ZIP : CA 92688
MORTGAGE AMOUNT : 242,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,070.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,693.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031679988 MORTGAGORS: SANBURG GLORIA
REGION CODE ADDRESS : 9337 DOHENY ROAD
01 CITY : BEVERLY HILLS AREA
STATE/ZIP : CA 90210
MORTGAGE AMOUNT : 560,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 559,563.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,820.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.96600
----------------------------------------------------------------
0 0031680135 MORTGAGORS: MARTIN JOHNNY
MARTIN CYNTHIA
REGION CODE ADDRESS : 5290 TRACTOR LANE
01 CITY : FAIRFAX
STATE/ZIP : VA 22030
MORTGAGE AMOUNT : 278,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,171.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,852.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.88000
----------------------------------------------------------------
0 0031680168 MORTGAGORS: KAROLL CRAIG
KAROLL JAN
REGION CODE ADDRESS : 2612 WIMBLEDON POINT DRIVE
01 CITY : VIRGINIA BEACH
STATE/ZIP : VA 23454
MORTGAGE AMOUNT : 317,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 316,746.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,135.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.25000
----------------------------------------------------------------
0 0031680176 MORTGAGORS: DIPIETRO MICHAEL
KATES SUSAN
REGION CODE ADDRESS : 21 GROUSE TRAIL
01 CITY : CHADDS FORD
STATE/ZIP : PA 19317
MORTGAGE AMOUNT : 303,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 302,763.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,066.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 70.46500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,700,650.00
P & I AMT: 11,568.93
UPB AMT: 1,699,315.28
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 100
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031680192 MORTGAGORS: MORABITO JOHN
MORABITO KATHLEEN
REGION CODE ADDRESS : 8 SOUTH WINDS LANE
01 CITY : MALVERN
STATE/ZIP : PA 19355
MORTGAGE AMOUNT : 326,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 325,477.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,196.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 58.73800
----------------------------------------------------------------
0 0031680457 MORTGAGORS: GRUNDBERG JAMES
GRUNDERRG DONNA
REGION CODE ADDRESS : 3419 CAMINO CORTE
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 333,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 333,169.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,190.53 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.77200
----------------------------------------------------------------
0 0031680572 MORTGAGORS: YEAGER MARK
JANSEN KATHRIN
REGION CODE ADDRESS : 3117 HOLICONG ROAD
01 CITY : DOYLESTOWN
STATE/ZIP : PA 18901
MORTGAGE AMOUNT : 412,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 411,636.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,638.08 OUTSIDE CONV DATE :
LIFETIME RATE : 6.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031680903 MORTGAGORS: SUEHIRO LLOYD
SUEHIRO SEIKO
REGION CODE ADDRESS : 1290 SOUTH GRANDRIDGE AVENUE
01 CITY : MONTEREY PARK
STATE/ZIP : CA 91754
MORTGAGE AMOUNT : 239,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,603.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,595.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 68.51400
----------------------------------------------------------------
0 0031681166 MORTGAGORS: FIRST LEE
REGION CODE ADDRESS : 8 ETZEL ROAD
01 CITY : BRANFORD
STATE/ZIP : CT 06405
MORTGAGE AMOUNT : 364,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 363,736.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,576.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 69.33300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,675,250.00
P & I AMT: 11,196.70
UPB AMT: 1,673,623.41
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 101
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031681299 MORTGAGORS: MARKMAN PETER
MARKMAN JANIS
REGION CODE ADDRESS : 63 GRANITE STREET
01 CITY : MEDFIELD
STATE/ZIP : MA 02052
MORTGAGE AMOUNT : 443,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 443,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,061.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031681331 MORTGAGORS: PEDEN DAVID
PEDEN JULIE
REGION CODE ADDRESS : 12819 ELMFIELD LANE
01 CITY : POWAY
STATE/ZIP : CA 92064
MORTGAGE AMOUNT : 275,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,800.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,947.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.76800
----------------------------------------------------------------
0 0031682297 MORTGAGORS: UNSINGER HAROLD
UNSINGER KRISTINE
REGION CODE ADDRESS : 4598 SHERBOURNE DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95124
MORTGAGE AMOUNT : 266,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,792.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,814.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031682446 MORTGAGORS: PHILLIPS DAVID
PHILLIPS JEANNE
REGION CODE ADDRESS : 5536 CARUTH BLVD
01 CITY : DALLAS
STATE/ZIP : TX 75209
MORTGAGE AMOUNT : 314,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,716.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,202.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.52700
----------------------------------------------------------------
0 0031682594 MORTGAGORS: MATTOX ARTHUR
MATTOX NANCY
REGION CODE ADDRESS : 57 EAST SQUARE LANE
01 CITY : RICHMOND
STATE/ZIP : VA 23233
MORTGAGE AMOUNT : 352,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 351,732.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,431.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.22200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,651,350.00
P & I AMT: 11,456.88
UPB AMT: 1,650,241.27
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 102
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031683980 MORTGAGORS: SCHLICHT LAUREN
REGION CODE ADDRESS : 453 BRISTOL AVE
01 CITY : ENCINITAS
STATE/ZIP : CA 92007
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,765.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,046.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031684178 MORTGAGORS: PARKER JANET
REGION CODE ADDRESS : 908 HITCHING POST LANE
01 CITY : BIRMINGHAM
STATE/ZIP : AL 35210
MORTGAGE AMOUNT : 463,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 463,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,119.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.43700
----------------------------------------------------------------
0 0031684210 MORTGAGORS: UHLIK FELIX
UHLIK NANCY
REGION CODE ADDRESS : 6635 ROYAL OAK COURT
01 CITY : TUCKER
STATE/ZIP : GA 30084
MORTGAGE AMOUNT : 231,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 231,423.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,599.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031684376 MORTGAGORS: NEPIL RICHARD
NEPIL LAUREN
REGION CODE ADDRESS : 5061 RIGATTI CIRCLE
01 CITY : PLEASONTON
STATE/ZIP : CA 94588
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,769.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,019.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031684905 MORTGAGORS: KIRSTEIN RICK
LEONIDA CLARA
REGION CODE ADDRESS : 5831 CAMINO DE LA COSTA
01 CITY : LA JOLLA
STATE/ZIP : CA 92037
MORTGAGE AMOUNT : 475,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 475,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,240.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.86800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,765,600.00
P & I AMT: 12,025.04
UPB AMT: 1,764,958.82
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 103
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031684921 MORTGAGORS: ROBERTS NEAL
REGION CODE ADDRESS : 11 PHILHOWER ROAD
01 CITY : CALIFON
STATE/ZIP : NJ 07830
MORTGAGE AMOUNT : 319,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,257.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 73.16513
----------------------------------------------------------------
0 0031685084 MORTGAGORS: NICHOLS JAMES
REGION CODE ADDRESS : 305 TEMPEST DRIVE
01 CITY : PEACHTREE CITY
STATE/ZIP : GA 30269
MORTGAGE AMOUNT : 325,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 325,046.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,219.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
0 0031685316 MORTGAGORS: GRAUBERGER JAMES
GRAUBERGER CHERYL
REGION CODE ADDRESS : 812 ROSEWOOD AVENUE
01 CITY : WINNETKA
STATE/ZIP : IL 60093
MORTGAGE AMOUNT : 468,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 468,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,232.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031685951 MORTGAGORS: COLE MARCUS
SCHOFIELD CHRISTINE
REGION CODE ADDRESS : 16901 ESCALON DRIVE,
01 CITY : ENCINO
STATE/ZIP : CA 91436
MORTGAGE AMOUNT : 412,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 411,686.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,845.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031686124 MORTGAGORS: WILCOX STEVEN
REGION CODE ADDRESS : 36 CANTERBURY DRIVE
01 CITY : SUDBURY
STATE/ZIP : MA 01776
MORTGAGE AMOUNT : 600,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 600,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,195.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 72.72700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,124,300.00
P & I AMT: 14,750.22
UPB AMT: 2,123,732.73
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 104
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031686231 MORTGAGORS: LORANGER THOMAS
LORANGER ELIZABETH
REGION CODE ADDRESS : 2616 N. KEY BOULEVARD
01 CITY : ARLINGTON
STATE/ZIP : VA 22201
MORTGAGE AMOUNT : 313,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 313,250.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,163.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.48100
----------------------------------------------------------------
0 0031686264 MORTGAGORS: ANDERSON TRACY
ANDERSON DAVID
REGION CODE ADDRESS : 9 EVERETT PAINE BLVD.
01 CITY : MARBLEHEAD
STATE/ZIP : MA 01945
MORTGAGE AMOUNT : 257,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,775.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.58800
----------------------------------------------------------------
0 0031686512 MORTGAGORS: FISHER JAMES
FISHER SUZANNE
REGION CODE ADDRESS : 4542 FABLE COURT
01 CITY : SANTA ROSA
STATE/ZIP : CA 95405
MORTGAGE AMOUNT : 477,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 475,660.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,298.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 04/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 72.34800
----------------------------------------------------------------
0 0031686538 MORTGAGORS: ANDERSON WAYNE
LAU MARY
REGION CODE ADDRESS : 1910 JUDITH PLACE
01 CITY : CONCORD
STATE/ZIP : CA 94521
MORTGAGE AMOUNT : 398,909.00 OPTION TO CONVERT :
UNPAID BALANCE : 398,015.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,789.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.78100
----------------------------------------------------------------
0 0031686603 MORTGAGORS: WILLARDSON THOMAS
WILLARDSON VALERIE
REGION CODE ADDRESS : 13363 CAMINITO MENDIOLA
01 CITY : RANCHO SANTA FE
STATE/ZIP : CA 92067
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,600.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,368.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 52.13700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,946,659.00
P & I AMT: 13,394.41
UPB AMT: 1,943,526.14
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 105
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031686835 MORTGAGORS: MANGAT H.S.
MANGAT I.P.
REGION CODE ADDRESS : 47285 GALINDO DRIVE
01 CITY : FREMONT
STATE/ZIP : CA 94539
MORTGAGE AMOUNT : 595,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 593,345.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,314.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 74.37500
----------------------------------------------------------------
0 0031686843 MORTGAGORS: SPARKES JAMES
SPARKES DORAE
REGION CODE ADDRESS : 1515 JUARCEYS COURT
01 CITY : SAN JOSE
STATE/ZIP : CA 95120
MORTGAGE AMOUNT : 455,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 453,670.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,220.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.40600
----------------------------------------------------------------
0 0031688443 MORTGAGORS: SHIN JOO
SHIN YOUNG
REGION CODE ADDRESS : 21408 RUNNING RIVER COURT
01 CITY : DIAMOND BAR
STATE/ZIP : CA 91765
MORTGAGE AMOUNT : 241,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,016.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,665.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.66500
----------------------------------------------------------------
0 0031688534 MORTGAGORS: LING MARK
LING VIRGINIA
REGION CODE ADDRESS : 393 MILL CREEK BEND NE
01 CITY : ATLANTA
STATE/ZIP : GA 30307
MORTGAGE AMOUNT : 428,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 427,674.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,956.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031688542 MORTGAGORS: KREVOLIN LARRY
KREVOLIN DEBORAH
REGION CODE ADDRESS : 1814 COUNTRY CLUB DRIVE
01 CITY : CHERRY HILL
STATE/ZIP : NJ 08003
MORTGAGE AMOUNT : 298,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 298,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,982.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 85.14200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,017,200.00
P & I AMT: 14,139.25
UPB AMT: 2,013,706.78
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 106
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031688674 MORTGAGORS: SINGH BRAJENDRA
SINGH MAYA
REGION CODE ADDRESS : 1609 WOODGLEN LANE
01 CITY : ALTADENA
STATE/ZIP : CA 91001
MORTGAGE AMOUNT : 302,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 301,752.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,009.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 66.81400
----------------------------------------------------------------
0 0031688856 MORTGAGORS: WONG STANLEY
WONG EVELYN
REGION CODE ADDRESS : 15 RESERVOIR ROAD
01 CITY : BROOKLINE
STATE/ZIP : MA 02467
MORTGAGE AMOUNT : 428,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 428,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,956.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031688864 MORTGAGORS: GRANNER NIKKI
REGION CODE ADDRESS : 57 FULTON STREET #12
01 CITY : BOSTON
STATE/ZIP : MA 02109
MORTGAGE AMOUNT : 258,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,803.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.87600
----------------------------------------------------------------
0 0031689482 MORTGAGORS: MALLARD LYNWOOD
MALLARD LAURA
REGION CODE ADDRESS : 1826 MEREDITH DRIVE
01 CITY : ATLANTA
STATE/ZIP : GA 30309
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 320,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,155.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031689607 MORTGAGORS: RUBANO ROBERT
BENTIVEGNA JULIEANN
REGION CODE ADDRESS : 26 JENNINGS CIRCLE
01 CITY : PEABODY
STATE/ZIP : MA 01960
MORTGAGE AMOUNT : 348,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 348,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,315.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,656,000.00
P & I AMT: 11,240.43
UPB AMT: 1,655,752.46
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 107
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031689946 MORTGAGORS: CAREFOOT THOMAS
CAREFOOT BRIDGET
REGION CODE ADDRESS : 2102 TWIN EAGLES DRIVE
01 CITY : TRAVERSE CITY
STATE/ZIP : MI 49686
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,079.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,292.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 74.41800
----------------------------------------------------------------
0 0031690621 MORTGAGORS: HABER MICHAEL
HABER LISA
REGION CODE ADDRESS : 35 LADY GODIVA WAY
01 CITY : NEW CITY
STATE/ZIP : NY 10956
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,046.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 62.82700
----------------------------------------------------------------
0 0031690845 MORTGAGORS: CUTHBERTSON MARK
PFEIFFENBERGER MICHELLE
REGION CODE ADDRESS : 75 SALEM RIDGE DRIVE
01 CITY : HUNTINGTON
STATE/ZIP : NY 11743
MORTGAGE AMOUNT : 360,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 360,489.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,340.14 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031690860 MORTGAGORS: SHEEHAN DAVID
SHEEHAN LISA
REGION CODE ADDRESS : 84 DELAWARE ROAD
01 CITY : EASTON
STATE/ZIP : CT 06612
MORTGAGE AMOUNT : 273,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,787.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,862.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 60.66600
----------------------------------------------------------------
0 0031691231 MORTGAGORS: JAMALI PARVIN
REGION CODE ADDRESS : 7617 PEPITA WAY
01 CITY : LA JOLLA
STATE/ZIP : CA 92037
MORTGAGE AMOUNT : 495,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 494,641.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,503.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.96700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,748,800.00
P & I AMT: 12,045.11
UPB AMT: 1,746,997.55
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 108
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031691819 MORTGAGORS: PERL TIMOTHY
PERL MONICA
REGION CODE ADDRESS : 75 LILAC LANE
01 CITY : PARAMUS
STATE/ZIP : NJ 07652
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,875.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 65.94700
----------------------------------------------------------------
0 0031691959 MORTGAGORS: LAMERS GABRIELE
REGION CODE ADDRESS : 108 LINCOLN STREET UNIT #6B
01 CITY : BOSTON
STATE/ZIP : MA 02111
MORTGAGE AMOUNT : 258,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,809.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031692247 MORTGAGORS: MACGILLIS DAVID
MACGILLIS DEBORAH
REGION CODE ADDRESS : 85 NORTH FRANKLIN TURNPIKE
01 CITY : HOHOKUS
STATE/ZIP : NJ 07423
MORTGAGE AMOUNT : 294,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,057.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031692403 MORTGAGORS: LUFF GERALD
LUFF ALISON
REGION CODE ADDRESS : 327 COUNTRYVIEW DRIVE
01 CITY : MILL VALLEY
STATE/ZIP : CA 94941
MORTGAGE AMOUNT : 333,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 332,740.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,271.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031692478 MORTGAGORS: PATKAR SHEKHAR
PATKAR GAYATRI
REGION CODE ADDRESS : 577 CROYDEN COURT
01 CITY : SUNNYVALE
STATE/ZIP : CA 94087
MORTGAGE AMOUNT : 428,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 427,400.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,956.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,589,050.00
P & I AMT: 10,970.74
UPB AMT: 1,588,190.36
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 109
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031693518 MORTGAGORS: BAEHR KENNETH
BAEHR MARTHA
REGION CODE ADDRESS : 481 E ILLINOIS ROAD
01 CITY : LAKE FOREST
STATE/ZIP : IL 60045
MORTGAGE AMOUNT : 405,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 405,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,762.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 58.90900
----------------------------------------------------------------
0 0031693716 MORTGAGORS: DREXINGER BERNARD
JACKSON-DREXINGER KAREN
REGION CODE ADDRESS : 700 LEADS GARDEN TERRACE
01 CITY : ALPHARETTA
STATE/ZIP : GA 30022
MORTGAGE AMOUNT : 282,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,902.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031694375 MORTGAGORS: TALLY DAVID
TALLY KIMBERLY
REGION CODE ADDRESS : 2652 COLERIDGE DRIVE
01 CITY : LOS ALAMITOS
STATE/ZIP : CA 90720
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,795.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,922.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 71.61400
----------------------------------------------------------------
0 0031694573 MORTGAGORS: AXELROD ROBERT
WISE CHRISTY
REGION CODE ADDRESS : 2610 TILDEN PLACE NW
01 CITY : WASHINGTON
STATE/ZIP : DC 20008
MORTGAGE AMOUNT : 986,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 985,380.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 6,727.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 015
LTV : 70.43900
----------------------------------------------------------------
0 0031694599 MORTGAGORS: FOWLER JAMES
FOWLER LYNNETTE
REGION CODE ADDRESS : 1915 BERYL
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92660
MORTGAGE AMOUNT : 307,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 306,766.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,120.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 68.98800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,255,550.00
P & I AMT: 15,435.90
UPB AMT: 2,254,343.02
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 110
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031694656 MORTGAGORS: BROWN ROBERT
REGION CODE ADDRESS : 4417 SHADE ROAD
01 CITY : LA MESA
STATE/ZIP : CA 91941
MORTGAGE AMOUNT : 238,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,718.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,650.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 88.48100
----------------------------------------------------------------
0 0031694680 MORTGAGORS: DASH LAWRENCE
DASH CAREN
REGION CODE ADDRESS : 613 WAYFIELD ROAD
01 CITY : WYNNEWOOD
STATE/ZIP : PA 19096
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,804.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,705.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 70.42200
----------------------------------------------------------------
0 0031694789 MORTGAGORS: BENDER KENNETH
BENDER CHERYL
REGION CODE ADDRESS : 5389 VISTA DEL DIOS
01 CITY : SAN DIEGO
STATE/ZIP : CA 92130
MORTGAGE AMOUNT : 540,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 539,578.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,683.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.14200
----------------------------------------------------------------
0 0031694847 MORTGAGORS: MOSER PERCIVAL
MOSER SARAH
REGION CODE ADDRESS : 301 CAVERSHAM ROAD
01 CITY : BRYN MAWR
STATE/ZIP : PA 19010
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,619.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,453.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 45.45400
----------------------------------------------------------------
0 0031694854 MORTGAGORS: GUTHRIE PHILLIP
GUTHRIE ANQUINETTE
REGION CODE ADDRESS : 742 MASTERS DRIVE
01 CITY : STONE MOUNTAIN
STATE/ZIP : GA 30087
MORTGAGE AMOUNT : 236,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,810.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,867.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/18
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.76200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,765,150.00
P & I AMT: 12,359.86
UPB AMT: 1,763,531.56
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 111
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031694953 MORTGAGORS: MAYSE MARK
MAYSE CHERIE
REGION CODE ADDRESS : 10757 INSPIRATION CIRCLE
01 CITY : DUBLIN,
STATE/ZIP : CA 94568
MORTGAGE AMOUNT : 332,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 332,550.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,212.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 75.48900
----------------------------------------------------------------
0 0031694979 MORTGAGORS: SMITH JANEEN
SMITH STEVEN
REGION CODE ADDRESS : 100 FRANCISCAN DRIVE
01 CITY : DANVILLE
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 324,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 323,740.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,182.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031695018 MORTGAGORS: WOOD BARRY
WOOD DEBORAH
REGION CODE ADDRESS : 10934 SUNRAY PL
01 CITY : LA MESA
STATE/ZIP : CA 91941
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,564.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,992.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/18
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 74.24200
----------------------------------------------------------------
0 0031695034 MORTGAGORS: WEINSTEIN PERRY
WIENSTEIN AMY
REGION CODE ADDRESS : 2848 SHANNON RD,
01 CITY : NORTHBROOK,
STATE/ZIP : IL 60062
MORTGAGE AMOUNT : 412,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 412,477.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,816.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031695562 MORTGAGORS: STOECKER STEPHEN
STOECKER PATRICIA
REGION CODE ADDRESS : 28591 MALABAR ROAD
01 CITY : TRABUCO CANYON AREA
STATE/ZIP : CA 92679
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,741.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,023.35 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,622,350.00
P & I AMT: 11,227.17
UPB AMT: 1,621,074.39
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 112
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031695596 MORTGAGORS: BACICA KAREN
REGION CODE ADDRESS : 1420 HOFFMAN LANE
01 CITY : CAMPBELL
STATE/ZIP : CA 95008
MORTGAGE AMOUNT : 266,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,581.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,775.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031695604 MORTGAGORS: WOODHAM PHILLIP
WOODHAM LISA
REGION CODE ADDRESS : 7120 POLLO HILL
01 CITY : CUMMING
STATE/ZIP : GA 30040
MORTGAGE AMOUNT : 314,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,198.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,118.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031695729 MORTGAGORS: POST CHRIS
GHIDOSSI JANA
REGION CODE ADDRESS : 30 WHITING FARM ROAD
01 CITY : BRANFORD
STATE/ZIP : CT 06405
MORTGAGE AMOUNT : 271,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,282.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,829.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031696461 MORTGAGORS: JENSEN KENNETH
JENSEN PRISCILLA
REGION CODE ADDRESS : 6602 BYRNES DRIVE
01 CITY : MC LEAN
STATE/ZIP : VA 22101
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,803.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,719.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031696594 MORTGAGORS: TERPENING ROBERT
TERPENING CHRISTINE
REGION CODE ADDRESS : 2032 CALLE YUCCA
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91360
MORTGAGE AMOUNT : 327,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,203.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.75600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,431,750.00
P & I AMT: 9,644.84
UPB AMT: 1,430,866.13
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 113
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031696768 MORTGAGORS: SPOONER MICHAEL
SPOONER MELINDA
REGION CODE ADDRESS : 6662 CATAMARAN DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95119
MORTGAGE AMOUNT : 250,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,204.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,708.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031696800 MORTGAGORS: SARMADI BIJAN
MODABBERI NOVIN
REGION CODE ADDRESS : 4525 TENANGO DRIVE
01 CITY : WOODLAND HILLS
STATE/ZIP : CA 91364
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,771.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,072.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 60.00000
----------------------------------------------------------------
0 0031696826 MORTGAGORS: RYTER ANDREA
RYTER ALAN
REGION CODE ADDRESS : 5 AZALEA ROAD
01 CITY : SHARON
STATE/ZIP : MA 02067
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,664.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 76.25000
----------------------------------------------------------------
0 0031697030 MORTGAGORS: SISON ALFREDO
SISON AURORA
REGION CODE ADDRESS : 42-100 ALEKA PLACE
01 CITY : KAILUA
STATE/ZIP : HI 96734
MORTGAGE AMOUNT : 620,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 620,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,282.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 77.98700
----------------------------------------------------------------
0 0031697048 MORTGAGORS: LI VICTOR
REGION CODE ADDRESS : 21 PARKRIDGE CIRCLE
01 CITY : SOUTH SAN FRANCISCO
STATE/ZIP : CA 94080
MORTGAGE AMOUNT : 369,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 369,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,519.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,783,700.00
P & I AMT: 12,246.18
UPB AMT: 1,783,276.38
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 114
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031697097 MORTGAGORS: AUSTIN KEVIN
REGION CODE ADDRESS : 1993 ROOSEVELT AVENUE
01 CITY : ALTADENA
STATE/ZIP : CA 91001
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,778.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031697162 MORTGAGORS: WILLIAMS CYNTHIA
REGION CODE ADDRESS : 1122 10TH STREET
01 CITY : HERMOSA BEACH
STATE/ZIP : CA 90254
MORTGAGE AMOUNT : 327,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 326,951.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,259.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031697196 MORTGAGORS: HOULT ROBERT
HOULT CHRISTIN
REGION CODE ADDRESS : 2655 BRIDLE LANE
01 CITY : WALNUT CREEK
STATE/ZIP : CA 94596
MORTGAGE AMOUNT : 399,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,757.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031697246 MORTGAGORS: EIKENBERRY STEPHEN
EIKENBERRY KAREN
REGION CODE ADDRESS : 7008 LA CUESTA COURT
01 CITY : SAN BUENAVENTURA
STATE/ZIP : CA 93003
MORTGAGE AMOUNT : 336,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,717.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,207.28 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 75.50561
----------------------------------------------------------------
0 0031697386 MORTGAGORS: LEVINSON STEVEN
REGION CODE ADDRESS : 154 LOMBARD STREET,UNIT #50
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94111
MORTGAGE AMOUNT : 332,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,741.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,264.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,658,400.00
P & I AMT: 11,267.80
UPB AMT: 1,657,609.75
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 115
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031697394 MORTGAGORS: SKAIR DANIEL
LOUBE JHOANNE
REGION CODE ADDRESS : 2721 BUSH STREET
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94115
MORTGAGE AMOUNT : 336,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 336,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,292.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031697493 MORTGAGORS: HARRIS WALTER
HARRIS RANDE-LEIGH
REGION CODE ADDRESS : 28842 JAEGER DRIVE
01 CITY : LAGUNA NIGUEL
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 289,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 288,774.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,971.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 78.53200
----------------------------------------------------------------
0 0031697600 MORTGAGORS: GOLDBERG ARTHUR
GOLDBERG JUDITH
REGION CODE ADDRESS : 624 SAND HILL CIRCLE
01 CITY : MENLO PARK
STATE/ZIP : CA 94025
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,794.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,609.48 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 38.88800
----------------------------------------------------------------
0 0031697659 MORTGAGORS: MCCRAE JOHN
MCCRAE DEIRDRE
REGION CODE ADDRESS : 196 MAIN STREET
01 CITY : WENHAM
STATE/ZIP : MA 01984
MORTGAGE AMOUNT : 246,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,812.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,699.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031697808 MORTGAGORS: GERLACH WILLIAM
REGION CODE ADDRESS : 228 BERKELEY ROAD
01 CITY : DEVON
STATE/ZIP : PA 19333
MORTGAGE AMOUNT : 408,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 408,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,852.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.46100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,524,000.00
P & I AMT: 10,424.94
UPB AMT: 1,523,381.54
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 116
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031697824 MORTGAGORS: ALBERT ARTHUR
SENNISH BRONWEN
REGION CODE ADDRESS : 707 HAVERFORD AVENUE
01 CITY : PACIFIC PALISADES
STATE/ZIP : CA 90272
MORTGAGE AMOUNT : 382,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 381,709.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,638.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 57.01400
----------------------------------------------------------------
0 0031697956 MORTGAGORS: ELSHAMA ADHAM
ELSHAMA ANNE
REGION CODE ADDRESS : 151 GRATON ROAD
01 CITY : WESTFORD
STATE/ZIP : MA 01886
MORTGAGE AMOUNT : 234,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,466.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,600.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031697972 MORTGAGORS: STEVENS MICHAEL
STEVENS JENNIFER
REGION CODE ADDRESS : 10588 BRADBURY ROAD
01 CITY : LOS ANGELES
STATE/ZIP : CA 90064
MORTGAGE AMOUNT : 384,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 383,677.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,522.61 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 71.11100
----------------------------------------------------------------
0 0031698079 MORTGAGORS: DAVIS PATRICK
DAVIS DEBORAH
REGION CODE ADDRESS : 6739 NEWINGTON ROAD
01 CITY : LORTON
STATE/ZIP : VA 22079
MORTGAGE AMOUNT : 275,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,985.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,877.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031698087 MORTGAGORS: SHUTE DAVID
SHUTE JENNIFER
REGION CODE ADDRESS : 8 WEDGEWOOD DRIVE
01 CITY : ANDOVER
STATE/ZIP : MA 01810
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,708.02 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 74.39700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,535,850.00
P & I AMT: 10,347.09
UPB AMT: 1,534,838.99
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 117
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031698327 MORTGAGORS: PRAMUK JOSEPH
PRAMUK JULIEANNA
REGION CODE ADDRESS : 1108 CLARK STREET
01 CITY : NAPA
STATE/ZIP : CA 94558
MORTGAGE AMOUNT : 355,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 354,694.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,302.52 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 49.71900
----------------------------------------------------------------
0 0031698434 MORTGAGORS: ROMANO DAVID
ROMANO YOLANDA
REGION CODE ADDRESS : 24255 ABBEYWOOD DRIVE
01 CITY : WEST HILLS,
STATE/ZIP : CA 91307
MORTGAGE AMOUNT : 371,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 370,703.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,499.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 68.70300
----------------------------------------------------------------
0 0031698459 MORTGAGORS: WALJI KARIM
REGION CODE ADDRESS : 1134 FOX HOLLOW COURT
01 CITY : MILIPITAS
STATE/ZIP : CA 95035
MORTGAGE AMOUNT : 277,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,012.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031698590 MORTGAGORS: GOLD MICHAEL
GOLD THERESE
REGION CODE ADDRESS : 36 WEST MAPLE ROAD
01 CITY : GREENLAWN
STATE/ZIP : NY 11740
MORTGAGE AMOUNT : 259,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,900.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,772.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031699150 MORTGAGORS: BORDEN EDWARD
BORDEN ANN
REGION CODE ADDRESS : 1147 SILVERHILL COURT
01 CITY : LAFAYETTE
STATE/ZIP : CA 94549
MORTGAGE AMOUNT : 369,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 368,712.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,517.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 58.11000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,632,400.00
P & I AMT: 11,104.30
UPB AMT: 1,631,509.82
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 118
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031699275 MORTGAGORS: PETERS JOHN
PETERS JOANN
REGION CODE ADDRESS : 8080 COBBLE COURT
01 CITY : GRANITE BAY
STATE/ZIP : CA 95746
MORTGAGE AMOUNT : 345,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 344,486.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,412.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.73600
----------------------------------------------------------------
0 0031699549 MORTGAGORS: HEUMANN STEVEN
GAUDET KATHLEEN
REGION CODE ADDRESS : 1718 S. HOLT AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90035
MORTGAGE AMOUNT : 280,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,580.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,915.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031699713 MORTGAGORS: COLLINS BRUCE
COLLINS DIANE
REGION CODE ADDRESS : 5753 LILAC BLOSSOM LANE
01 CITY : SAN JOSE
STATE/ZIP : CA 95124
MORTGAGE AMOUNT : 248,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,520.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,760.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 71.05700
----------------------------------------------------------------
0 0031699721 MORTGAGORS: HOLMAN WILLIAM
HOLMAN LINDA
REGION CODE ADDRESS : 29 FAIRWAY DRIVE
01 CITY : BIRMINGHAM
STATE/ZIP : AL 35213
MORTGAGE AMOUNT : 562,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 562,050.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,789.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031699788 MORTGAGORS: KERN ROCHELLE
REGION CODE ADDRESS : 3764 MAPLEWOOD AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90066
MORTGAGE AMOUNT : 287,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,325.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,961.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,724,550.00
P & I AMT: 11,839.40
UPB AMT: 1,722,963.10
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 119
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031700156 MORTGAGORS: LEONI CHARLES
LEONI NANCY
REGION CODE ADDRESS : 319 JESTER COURT
01 CITY : PETALUMA
STATE/ZIP : CA 94954
MORTGAGE AMOUNT : 411,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 410,894.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,875.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031700313 MORTGAGORS: ATKINS DALE
ATKINS JERRILU
REGION CODE ADDRESS : 952 UTICA CIRCLE
01 CITY : BOULDER
STATE/ZIP : CO 80304
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,795.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,663.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 64.10200
----------------------------------------------------------------
0 0031700339 MORTGAGORS: TESSEM JOHN
TESSEM ERIKA
REGION CODE ADDRESS : 16031 NORTHEAST 44TH COURT
01 CITY : REDMOND
STATE/ZIP : WA 98052
MORTGAGE AMOUNT : 427,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 426,758.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,877.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 89.99800
----------------------------------------------------------------
0 0031700396 MORTGAGORS: FINE REBECCA
CECONI PHILIP
REGION CODE ADDRESS : 3519 WOOLMAN DRIVE
01 CITY : HAYMARKET
STATE/ZIP : VA 20169
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,769.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,019.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.89400
----------------------------------------------------------------
0 0031700404 MORTGAGORS: YU NICHOLAS
REGION CODE ADDRESS : 11616 CANDY ROSE WAY
01 CITY : SAN DIEGO
STATE/ZIP : CA 92131
MORTGAGE AMOUNT : 318,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 318,080.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,148.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.98900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,703,150.00
P & I AMT: 11,583.29
UPB AMT: 1,701,297.93
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 120
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031700586 MORTGAGORS: MCLAUGHLIN MICHEAL
REGION CODE ADDRESS : 12705 HOLMES POINT DRIVE NORTHEAST
01 CITY : KIRKLAND
STATE/ZIP : GA 98034
MORTGAGE AMOUNT : 997,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 996,759.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 6,974.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 015
LTV : 70.00000
----------------------------------------------------------------
0 0031700594 MORTGAGORS: GRAIS ADAM
GRAIS STEPHANIE
REGION CODE ADDRESS : 1836 N WILMOT AVENUE
01 CITY : CHICAGO
STATE/ZIP : IL 60647
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,933.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.77200
----------------------------------------------------------------
0 0031700677 MORTGAGORS: COOGAN LAWRENCE
COOGAN SHARON
REGION CODE ADDRESS : 13513 CRISTALLINA WAY
01 CITY : TRUCKEE
STATE/ZIP : CA 96161
MORTGAGE AMOUNT : 263,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,004.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,840.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031701055 MORTGAGORS: SHIRK W. BRUCE
SHIRK NORMA
REGION CODE ADDRESS : 4360 WESTOVER PLACE, N.W.
01 CITY : WASHINGTON
STATE/ZIP : DC 20016
MORTGAGE AMOUNT : 345,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 345,330.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,357.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031701089 MORTGAGORS: MORICI MARTIN
REGION CODE ADDRESS : 1715 SWEETBRIAR DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95125
MORTGAGE AMOUNT : 470,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 469,651.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,286.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 67.14200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,356,300.00
P & I AMT: 16,392.80
UPB AMT: 2,354,745.98
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 121
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031701147 MORTGAGORS: DUGAN DENNIS
DUGAN KAREN
REGION CODE ADDRESS : 4 B WEST 87TH STREET
01 CITY : LONG BEACH TWP
STATE/ZIP : NJ 08008
MORTGAGE AMOUNT : 272,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,265.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,767.43 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 78.98500
----------------------------------------------------------------
0 0031701204 MORTGAGORS: MURPHREE HENRY
MURPHREE DOROTHY
REGION CODE ADDRESS : 467 RIDGE ROAD
01 CITY : WATCHUNG
STATE/ZIP : NJ 07060
MORTGAGE AMOUNT : 355,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 355,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,421.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 44.37500
----------------------------------------------------------------
0 0031701337 MORTGAGORS: LEEPER CHAS
LEEPER STEPHANIE
REGION CODE ADDRESS : 7003 SEASHORE DRIVE
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92663
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,523.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,929.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 75.71800
----------------------------------------------------------------
0 0031701527 MORTGAGORS: NUESA WILSON
NUESA MYRA
REGION CODE ADDRESS : 6 DANSFIELD CT
01 CITY : UPPER SADDLE RIVER
STATE/ZIP : NJ 07548
MORTGAGE AMOUNT : 816,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 816,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 5,705.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 015
LTV : 80.00000
----------------------------------------------------------------
0 0031701550 MORTGAGORS: MCREYNOLDS TIMOTHY
MCREYNOLDS JEANNETTE
REGION CODE ADDRESS : 18401 SHADOW RIDGE DRIVE
01 CITY : OMAHA
STATE/ZIP : NE 68130
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 400,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,728.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,133,500.00
P & I AMT: 14,552.85
UPB AMT: 2,132,788.57
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 122
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031701576 MORTGAGORS: BAYLER JAMES
BAYLER JOY
REGION CODE ADDRESS : 18677 MARTHA AVE
01 CITY : SARATOGA
STATE/ZIP : CA 95070
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,747.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,049.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031701899 MORTGAGORS: AHMED MAGED
YOUSSEF GLORIA
REGION CODE ADDRESS : 384 DEMOTT AVENUE
01 CITY : ROCKVILLE CENTRE
STATE/ZIP : NY 11570
MORTGAGE AMOUNT : 299,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,477.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,095.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031701915 MORTGAGORS: FOSTER MICHAEL
FOSTER JOANNE
REGION CODE ADDRESS : 322 SOUTWOOD CIRCLE
01 CITY : SYOSSET
STATE/ZIP : NY 11791
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,823.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,727.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031701980 MORTGAGORS: LUTHER DAVID
LUTHER GERALDINE
REGION CODE ADDRESS : 157 GREENFIELD HILL ROAD
01 CITY : FAIRFIELD
STATE/ZIP : CT 06430
MORTGAGE AMOUNT : 1,000,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 1,000,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 6,821.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 015
LTV : 66.66600
----------------------------------------------------------------
0 0031701998 MORTGAGORS: QUINN KEVIN
QUINN ELIZABETH
REGION CODE ADDRESS : 7 CARRIAGE LANE
01 CITY : MEDFIELD
STATE/ZIP : MA 02052
MORTGAGE AMOUNT : 412,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 412,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,604.12 OUTSIDE CONV DATE :
LIFETIME RATE : 6.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,263,700.00
P & I AMT: 15,297.58
UPB AMT: 2,263,048.52
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 123
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031702145 MORTGAGORS: HOLDRIDGE JOHN
HOLDRIDGE KELLYE
REGION CODE ADDRESS : 1179 WHITEHALL POINTE
01 CITY : DUNWOODY
STATE/ZIP : GA 30338
MORTGAGE AMOUNT : 450,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 450,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,033.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
0 0031702285 MORTGAGORS: SNYDER GREGORY
SNYDER BERNADETTE
REGION CODE ADDRESS : 705 CALLE CUMBRE
01 CITY : SAN CLEMENTE
STATE/ZIP : CA 92673
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,768.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,349.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031702582 MORTGAGORS: TABIB FEREYDOON
TABIB FREDA
REGION CODE ADDRESS : 508 10TH STREET
01 CITY : SANTA MONICA
STATE/ZIP : CA 90402
MORTGAGE AMOUNT : 525,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 524,590.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,581.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 56.75600
----------------------------------------------------------------
0 0031702848 MORTGAGORS: CATTARUSA DON
CATTARUSA LORI
REGION CODE ADDRESS : 1650 AMHURST WAY
01 CITY : CONCORD
STATE/ZIP : CA 94518
MORTGAGE AMOUNT : 237,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,616.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 94.98900
----------------------------------------------------------------
0 0031702921 MORTGAGORS: ORLANDO CARL
ORLANDO BARBARA
REGION CODE ADDRESS : 2645 WALNUT COURT
01 CITY : SOQUEL
STATE/ZIP : CA 95073
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,684.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 76.68700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,790,300.00
P & I AMT: 12,266.09
UPB AMT: 1,789,658.94
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 124
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031703333 MORTGAGORS: HANSON MARK
HANSON LISA
REGION CODE ADDRESS : 1184 FLOYD STREET NE
01 CITY : COVINGTON
STATE/ZIP : GA 30014
MORTGAGE AMOUNT : 407,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 406,666.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,707.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.80300
----------------------------------------------------------------
0 0031703457 MORTGAGORS: HUCKABEY MARK
HUCKABEY KIMBERLY
REGION CODE ADDRESS : 2992 SPARROW DRIVE
01 CITY : FULLERTON
STATE/ZIP : CA 92835
MORTGAGE AMOUNT : 277,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,822.98 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 77.08300
----------------------------------------------------------------
0 0031703465 MORTGAGORS: GEORGALLAS PETE
GEORGALLAS DONNA
REGION CODE ADDRESS : 16515 HARBOUR TOWN DRIVE
01 CITY : SILVER SPRING
STATE/ZIP : MD 20905
MORTGAGE AMOUNT : 339,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,371.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,259.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 73.50600
----------------------------------------------------------------
0 0031703523 MORTGAGORS: HERRERA MARK
REGION CODE ADDRESS : 15055 COLOMBET AVENUE
01 CITY : SAN MARTIN
STATE/ZIP : CA 95046
MORTGAGE AMOUNT : 231,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 230,978.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,616.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 51.25277
----------------------------------------------------------------
0 0031703572 MORTGAGORS: SCHABERG RICHARD
PARSONS-SCHABERG SARA
REGION CODE ADDRESS : 5312 BLACKSTONE ROAD
01 CITY : BETHESDA
STATE/ZIP : MD 20816
MORTGAGE AMOUNT : 420,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 419,672.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,865.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 78.35800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,675,300.00
P & I AMT: 11,271.83
UPB AMT: 1,674,188.80
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 125
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031703580 MORTGAGORS: CONE DONALD
CONE JEANNETTE
REGION CODE ADDRESS : 12096 DAPPLE WAY
01 CITY : SAN DIEGO
STATE/ZIP : CA 92128
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,751.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 72.22200
----------------------------------------------------------------
0 0031703606 MORTGAGORS: MARTHENS DARRIN
RAYMOND MICHELE
REGION CODE ADDRESS : 13307 JONATHAN PARK PLACE
01 CITY : POWAY
STATE/ZIP : CA 92064
MORTGAGE AMOUNT : 275,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,195.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,925.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 94.99800
----------------------------------------------------------------
0 0031703630 MORTGAGORS: BATISTA CESAR
REGION CODE ADDRESS : 2525 PROVIDENCE HILLS DRIVE
01 CITY : MATTHEWS
STATE/ZIP : NC 28105
MORTGAGE AMOUNT : 261,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,091.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,760.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99100
----------------------------------------------------------------
0 0031704430 MORTGAGORS: ELVIDGE RONALD
REGION CODE ADDRESS : 255 TIM COURT
01 CITY : DANVILLE
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 556,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 556,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,792.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031704455 MORTGAGORS: PAULEY LINDA
PAULEY BILLY
REGION CODE ADDRESS : 13312 EAST VILLA PARK STREET,
01 CITY : CHANDLER,
STATE/ZIP : AZ 85249
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,758.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,114.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.59900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,662,700.00
P & I AMT: 11,345.40
UPB AMT: 1,662,044.82
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 126
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031704596 MORTGAGORS: BUCK ROBERT
BUCK CHRISTINE
REGION CODE ADDRESS : 5 S STONINGTON ROAD
01 CITY : LAGUNA BEACH
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 338,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 338,229.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,280.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 72.02100
----------------------------------------------------------------
0 0031704711 MORTGAGORS: SHIELDS LEROY
SHIELDS CHARLSIE
REGION CODE ADDRESS : 4960 LAKEPOINTE CIRCLE
01 CITY : SANTA ROSA
STATE/ZIP : CA 95403
MORTGAGE AMOUNT : 246,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,812.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,699.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 47.30700
----------------------------------------------------------------
0 0031704752 MORTGAGORS: SANDMAN JERRY
SANDMAN PATRICIA
REGION CODE ADDRESS : 5908 LAKELAND COURT
01 CITY : DAVENSPORT
STATE/ZIP : IA 52807
MORTGAGE AMOUNT : 271,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,593.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,877.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031704836 MORTGAGORS: JACOBSON STUART
COOPER SUZANNE
REGION CODE ADDRESS : 8 BARRYMEADE DRIVE
01 CITY : LEXINGTON
STATE/ZIP : MA 02173
MORTGAGE AMOUNT : 326,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 326,145.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,226.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031704893 MORTGAGORS: FRIEDES JONATHAN
REGION CODE ADDRESS : 38 CONCORD SQUARE
01 CITY : BOSTON
STATE/ZIP : MA 02118
MORTGAGE AMOUNT : 470,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 470,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,087.57 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 65.73400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,652,700.00
P & I AMT: 11,171.05
UPB AMT: 1,651,780.68
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 127
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031704935 MORTGAGORS: WOOD ARMANDO
WOOD NANCY
REGION CODE ADDRESS : 10 ENCANTO DRIVE
01 CITY : ROLLING HILLS ESTATES
STATE/ZIP : CA 90274
MORTGAGE AMOUNT : 450,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 450,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,031.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031705023 MORTGAGORS: AGUSTIN RODOLFO
AGUSTIN AILEEN
REGION CODE ADDRESS : 2160 SUNSPRITE DRIVE
01 CITY : UNION CITY
STATE/ZIP : CA 94587
MORTGAGE AMOUNT : 368,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 367,769.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,542.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.98700
----------------------------------------------------------------
0 0031705189 MORTGAGORS: TARAN OLEG
YEVTUSHENKO VALERIE
REGION CODE ADDRESS : 338 KIRKHAM STREET
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94122
MORTGAGE AMOUNT : 496,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 495,631.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,468.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031705205 MORTGAGORS: KENDALL GEORGE
KENDALL DONNA
REGION CODE ADDRESS : 9 OLDE FARMS ROAD
01 CITY : BOXFORD
STATE/ZIP : MA 01921
MORTGAGE AMOUNT : 313,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 313,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,242.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 78.25000
----------------------------------------------------------------
0 0031705254 MORTGAGORS: ALPER GORDON
ALPER SHARON
REGION CODE ADDRESS : 314 RIDGEWAY
01 CITY : MAMMOTH LAKES
STATE/ZIP : CA 93546
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,773.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,978.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 52.72700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,917,050.00
P & I AMT: 13,262.56
UPB AMT: 1,916,175.60
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 128
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031705262 MORTGAGORS: YICK ROBERT
YICK WENDY
REGION CODE ADDRESS : 239 WEST 23RD AVENUE
01 CITY : SAN MATEO
STATE/ZIP : CA 94403
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,720.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,358.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 63.63600
----------------------------------------------------------------
0 0031705676 MORTGAGORS: ABRIL JESUS
ABRIL PATRICIA
REGION CODE ADDRESS : 6638 WEST 98TH DRIVE
01 CITY : WESTMINSTER
STATE/ZIP : CO 80021
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,817.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,657.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.98600
----------------------------------------------------------------
0 0031705692 MORTGAGORS: GOWER WILLIAM
GOWER GLORIA
REGION CODE ADDRESS : 9123 BRIARGLEN ROAD
01 CITY : EDEN PRAIRIE
STATE/ZIP : MN 55347
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,785.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,875.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 94.89600
----------------------------------------------------------------
0 0031705841 MORTGAGORS: BENTON CHRISTOBEL
ALBERTS GREGORY
REGION CODE ADDRESS : 20640 MIRACLE DRIVE
01 CITY : GAITHERSBURG
STATE/ZIP : MD 20882
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,769.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,738.24 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031706161 MORTGAGORS: FELLOWS CHRISTOPHER
BASSAM CRAIG
REGION CODE ADDRESS : 1380 PONUS RIDGE ROAD
01 CITY : NEW CANAAN
STATE/ZIP : CT 06840
MORTGAGE AMOUNT : 483,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 483,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,418.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,616,000.00
P & I AMT: 11,048.49
UPB AMT: 1,615,092.24
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 129
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031706682 MORTGAGORS: BOSKOVICH PHILIP
BOSKOVICH INGE
REGION CODE ADDRESS : 1514 OUTLOOK CIRCLE
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91362
MORTGAGE AMOUNT : 412,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 411,662.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,741.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 29.42800
----------------------------------------------------------------
0 0031707029 MORTGAGORS: FLESCHMAN SANFORD
FLESCHMAN MARIA
REGION CODE ADDRESS : 24191 VISTA D'ORO
01 CITY : DANA POINT
STATE/ZIP : CA 92629
MORTGAGE AMOUNT : 332,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,753.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,321.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031707052 MORTGAGORS: ROWEN ALAN
ROWEN MARGARET
REGION CODE ADDRESS : 22 BRIDGETOWN BEND
01 CITY : CORONADO
STATE/ZIP : CA 92118
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,758.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,114.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 67.09900
----------------------------------------------------------------
0 0031707557 MORTGAGORS: SCHWARTZ DAVID
LUNG-SCHWARTZ JOANN
REGION CODE ADDRESS : 13814 ALBERS STREET
01 CITY : SHERMAN OAKS AREA
STATE/ZIP : CA 91401
MORTGAGE AMOUNT : 262,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,795.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,787.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.05800
----------------------------------------------------------------
0 0031707615 MORTGAGORS: ERINGER ROBERT
ERINGER ELIZABETH
REGION CODE ADDRESS : 4640 HAWTHORNE LANE NW
01 CITY : WASHINGTON
STATE/ZIP : DC 20016
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 650,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,600.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 41.93500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,966,000.00
P & I AMT: 13,565.16
UPB AMT: 1,964,969.67
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 130
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031707797 MORTGAGORS: DRAKE RICAHARD
DRAKE AUDREY
REGION CODE ADDRESS : 27473 CLARKSON COURT
01 CITY : VALENCIA
STATE/ZIP : CA 91354
MORTGAGE AMOUNT : 335,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,256.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.76100
----------------------------------------------------------------
0 0031707813 MORTGAGORS: DOCKERY THOMAS
DOCKERY CAROL
REGION CODE ADDRESS : 1319 CHELSEA DRIVE
01 CITY : LOS ALTOS
STATE/ZIP : CA 94024
MORTGAGE AMOUNT : 600,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 599,543.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,144.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031707987 MORTGAGORS: O'SULLIVAN IAN
RICHARDSON GINA
REGION CODE ADDRESS : 28 TURNBERRY DRIVE
01 CITY : MANALAPAN
STATE/ZIP : NJ 07726
MORTGAGE AMOUNT : 233,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,703.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,536.56 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 84.98400
----------------------------------------------------------------
0 0031708043 MORTGAGORS: HOUSE BARRY
HOUSE ELAINE
REGION CODE ADDRESS : 19 CR 385
01 CITY : WYNNE
STATE/ZIP : AR 72396
MORTGAGE AMOUNT : 232,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 232,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,582.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031708209 MORTGAGORS: LANDINO ROBERT
BELOTE DOUGLAS
REGION CODE ADDRESS : 25 MADISON ROAD
01 CITY : WELLESLEY
STATE/ZIP : MA 02181
MORTGAGE AMOUNT : 410,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 410,850.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,802.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,811,750.00
P & I AMT: 12,322.95
UPB AMT: 1,811,096.94
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 131
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031709322 MORTGAGORS: ANDERSON ROBERT
ANDERSON MONICA
REGION CODE ADDRESS : 2746 TREETOPS WAY
01 CITY : SANTA ROSA
STATE/ZIP : CA 95404
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 500,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,326.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 78.86400
----------------------------------------------------------------
0 0031709611 MORTGAGORS: ANDREWS BRIAN
ANDREWS KATHLEEN
REGION CODE ADDRESS : 9376 COLBERT COURT
01 CITY : FAIRFAX
STATE/ZIP : VA 22032
MORTGAGE AMOUNT : 369,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 369,197.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,458.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031709678 MORTGAGORS: CHO CHRISTOPHER
REGION CODE ADDRESS : 20588 EAST OAK MEADOW LANE
01 CITY : DIAMOND BAR AREA
STATE/ZIP : CA 91765
MORTGAGE AMOUNT : 295,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,786.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,088.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.72900
----------------------------------------------------------------
0 0031709801 MORTGAGORS: WATERS VALERIE
WATERS SHAWN
REGION CODE ADDRESS : 4452 MATTOS DR
01 CITY : FREMONT
STATE/ZIP : CA 94536
MORTGAGE AMOUNT : 258,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,743.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031709884 MORTGAGORS: STERN ARON
WELLS-STERN BARBARA
REGION CODE ADDRESS : 3482 CORTE CLARITA
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,762.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 64.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,743,300.00
P & I AMT: 11,853.87
UPB AMT: 1,742,546.12
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 132
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031710098 MORTGAGORS: ARTHUR GERALD
ARTHUR SOPHIA
REGION CODE ADDRESS : 13913 HUXLEY COVE COURT
01 CITY : SILVER SPRING
STATE/ZIP : MD 20906
MORTGAGE AMOUNT : 239,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,063.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,632.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031710106 MORTGAGORS: STEINBERG EVAN
STEINBERG MARY
REGION CODE ADDRESS : 328 AUBURN AVENUE
01 CITY : SIERRA MADRE
STATE/ZIP : CA 91024
MORTGAGE AMOUNT : 284,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,383.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,965.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.69100
----------------------------------------------------------------
0 0031710155 MORTGAGORS: SHERRY RICHARD
SHERRY PATTI
REGION CODE ADDRESS : 4301 GREGG ROAD
01 CITY : BROOKEVILLE
STATE/ZIP : MD 20833
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 304,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,022.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031710171 MORTGAGORS: GARAY LORENZO
GARAY LAURIE
REGION CODE ADDRESS : 5419 170TH PLACE SE
01 CITY : BELLVUE
STATE/ZIP : WA 98006
MORTGAGE AMOUNT : 257,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,794.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,731.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 47.11200
----------------------------------------------------------------
0 0031710197 MORTGAGORS: STEINBERG DANIEL
STEINBERG ROBYN
REGION CODE ADDRESS : 65 WESTGATE ROAD
01 CITY : NEWTON
STATE/ZIP : MA 02159
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 310,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,010.66 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 57.94300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,394,850.00
P & I AMT: 9,362.42
UPB AMT: 1,394,241.28
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 133
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031710239 MORTGAGORS: WILDER FAITH
REGION CODE ADDRESS : 3752 W LAWTON STREET
01 CITY : SEATTLE
STATE/ZIP : WA 98199
MORTGAGE AMOUNT : 396,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 395,691.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,701.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031710403 MORTGAGORS: SPOWART GREGORY
SPOWART LESLEY
REGION CODE ADDRESS : 25872 PASEO REAL
01 CITY : MONTEREY
STATE/ZIP : CA 93940
MORTGAGE AMOUNT : 562,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 562,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,648.36 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 73.05100
----------------------------------------------------------------
0 0031710619 MORTGAGORS: TSAI WENCHIN
ISAI JINA
REGION CODE ADDRESS : 815 N. ZIEGLER WAY
01 CITY : PLACENTIA
STATE/ZIP : CA 92870
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,781.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,708.01 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 71.23200
----------------------------------------------------------------
0 0031710882 MORTGAGORS: GREGORY MALCOLM
PALEJOWSKA-GREGORY ANNA
REGION CODE ADDRESS : 1007 SOUTH CATALINA AVENUE #210
01 CITY : REDONDO BEACH
STATE/ZIP : CA 90277
MORTGAGE AMOUNT : 282,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,774.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,899.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031711203 MORTGAGORS: RODEMS CHUCK
RODEMS KAREN
REGION CODE ADDRESS : 2 GREENVALE
01 CITY : RANCHO SANTA MARGARITA
STATE/ZIP : CA 92688
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,791.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,120.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,796,500.00
P & I AMT: 12,078.26
UPB AMT: 1,795,538.23
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 134
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031711476 MORTGAGORS: LUM DONALD
LUM STEPHANIE
REGION CODE ADDRESS : 5125 CLAYTON ROAD
01 CITY : SUISUN CITY
STATE/ZIP : CA 94585
MORTGAGE AMOUNT : 316,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 316,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,360.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/23
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 70.22200
----------------------------------------------------------------
0 0031711724 MORTGAGORS: GROSSMAN NEIL
GROSSMAN ETHYL
REGION CODE ADDRESS : 3535 RUNNYMEADE DRIVE
01 CITY : NEWTOWN SQUARE
STATE/ZIP : PA 19073
MORTGAGE AMOUNT : 447,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 447,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,091.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031711757 MORTGAGORS: HSHIEH FWU-IUAN
HSHIEH MAN-LING
REGION CODE ADDRESS : 20768 SEVILLA LANE
01 CITY : SARATOGA
STATE/ZIP : CA 95070
MORTGAGE AMOUNT : 560,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 559,614.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,060.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 59.89300
----------------------------------------------------------------
0 0031711880 MORTGAGORS: FERNANDEZ HENRY
REGION CODE ADDRESS : 211 COLONIAL HOMES DRIVE #2505
01 CITY : ATLANTA
STATE/ZIP : GA 30309
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,799.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,623.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031711922 MORTGAGORS: MCILMAIL GLENN
MCILMAIL DEBORAH
REGION CODE ADDRESS : 28 THOMAS FARM LANE
01 CITY : LONG VALLEY
STATE/ZIP : NJ 07853
MORTGAGE AMOUNT : 338,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 338,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,392.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 73.47800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,905,600.00
P & I AMT: 13,528.51
UPB AMT: 1,905,014.60
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 135
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031712045 MORTGAGORS: MOLDOVAN MIHAI
MOLDOVAN DANA
REGION CODE ADDRESS : 2794 QUEENS WAY
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91362
MORTGAGE AMOUNT : 356,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 355,722.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,428.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031712094 MORTGAGORS: MCALPINE STUART
MCALPINE CELIA
REGION CODE ADDRESS : 1002 PENNSYLVANIA AVENUE SE
01 CITY : WASHINGTON
STATE/ZIP : DC 20003
MORTGAGE AMOUNT : 247,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,297.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,646.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031712136 MORTGAGORS: MCKENNA JAMES
MCKENNA ANGELICA
REGION CODE ADDRESS : 20 SKYVIEW TERRACE
01 CITY : LONG HILL TOWNSHIP
STATE/ZIP : NJ 07946
MORTGAGE AMOUNT : 352,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 352,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,371.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031712540 MORTGAGORS: MONTI DAVID
MONTI MADDALENA
REGION CODE ADDRESS : 57 HIDDEN VALLEY DRIVE
01 CITY : ROCKY HILL
STATE/ZIP : CT 06067
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 340,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,233.56 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 87.17900
----------------------------------------------------------------
0 0031712565 MORTGAGORS: LENNON DANIEL
LENNON JEANNE
REGION CODE ADDRESS : 13 ROCKLEDGE TERRACE
01 CITY : POMPTON PLAINS
STATE/ZIP : NJ 07444
MORTGAGE AMOUNT : 361,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 361,118.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,465.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.95500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,656,900.00
P & I AMT: 11,145.61
UPB AMT: 1,656,137.48
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 136
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031712714 MORTGAGORS: BAE JOON
BAE SEUNG
REGION CODE ADDRESS : 2223 LENORE DRIVE
01 CITY : GLENDALE
STATE/ZIP : CA 91206
MORTGAGE AMOUNT : 341,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 340,846.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,385.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031712763 MORTGAGORS: MORTON WILLIAM
MORTON KELLY
REGION CODE ADDRESS : 4909 LONG POINT COURT
01 CITY : RALEIGH
STATE/ZIP : NC 27604
MORTGAGE AMOUNT : 239,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,213.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,633.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031712821 MORTGAGORS: ZAKHAREVICH MICHAEL
ZAKHAREVICH SOFIA
REGION CODE ADDRESS : 1040 CONTINENTALS WAY #12
01 CITY : BELMONT
STATE/ZIP : CA 94002
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,775.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,964.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 64.00000
----------------------------------------------------------------
0 0031713100 MORTGAGORS: AMENDT BRIAN
AMENDT CLAUDIA
REGION CODE ADDRESS : 3093 PAVAN DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95148
MORTGAGE AMOUNT : 242,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,061.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,652.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031713308 MORTGAGORS: GARCIA THOMAS
GARCIA KATHLEEN
REGION CODE ADDRESS : 4841 DANBURY CIRCLE
01 CITY : EL DORADO HILLS
STATE/ZIP : CA 95762
MORTGAGE AMOUNT : 282,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,185.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,950.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.98600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,393,150.00
P & I AMT: 9,585.88
UPB AMT: 1,392,081.55
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 137
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031713373 MORTGAGORS: WASILESKU RAINER
WASILESKU JORDANNA
REGION CODE ADDRESS : 6053 RIDGEMOOR DRIVE
01 CITY : SAN DIEGO
STATE/ZIP : CA 92120
MORTGAGE AMOUNT : 420,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 419,688.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,936.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 89.36100
----------------------------------------------------------------
0 0031713423 MORTGAGORS: TURNER STEPHEN
TURNER SANDRA
REGION CODE ADDRESS : 61 LENAPE ROAD,
01 CITY : RICHBORO,
STATE/ZIP : PA 18954
MORTGAGE AMOUNT : 276,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 276,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,792.08 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031713720 MORTGAGORS: PRAHL WALTER
SHORE SARAH
REGION CODE ADDRESS : 37 MEADOWBROOK ROAD
01 CITY : BOROUGH OF CHATHAM
STATE/ZIP : NJ 07928
MORTGAGE AMOUNT : 372,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 372,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,569.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031713738 MORTGAGORS: GUREVITCH ARNOLD
GUREVITCH CAMILLE
REGION CODE ADDRESS : 2586 GREENVALLEY ROAD
01 CITY : LOS ANGELES
STATE/ZIP : CA 90046
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,995.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 52.17300
----------------------------------------------------------------
0 0031713944 MORTGAGORS: PAOLUCCI FRANK
REGION CODE ADDRESS : 410 WARWICK ROAD
01 CITY : HADDONFIELD
STATE/ZIP : NJ 08033
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,777.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 42.97900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,668,300.00
P & I AMT: 11,391.66
UPB AMT: 1,667,765.65
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 138
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031714223 MORTGAGORS: SKROBISZ ZBIGNIEW
SKROBISZ MARIA
REGION CODE ADDRESS : 24595 WEST MIDDLE FORK
01 CITY : DEER PARK
STATE/ZIP : IL 60010
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,046.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.07400
----------------------------------------------------------------
0 0031714439 MORTGAGORS: KIUCHI RAYMOND
REGION CODE ADDRESS : 173 ARCHER DRIVE
01 CITY : SANTA CRUZ
STATE/ZIP : CA 95060
MORTGAGE AMOUNT : 324,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,293.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031714512 MORTGAGORS: BAGLEY BRIAN
BAGLEY KATHERINE
REGION CODE ADDRESS : 145 LUCINDA STREET
01 CITY : SCOTTS VALLEY
STATE/ZIP : CA 95066
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,759.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,101.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 78.17200
----------------------------------------------------------------
0 0031714603 MORTGAGORS: LANCASTER CAMERON
LANCASTER CHERYL
REGION CODE ADDRESS : 212 NORTH IRENA #B
01 CITY : REDONDO BEACH
STATE/ZIP : CA 90277
MORTGAGE AMOUNT : 337,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 337,230.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,273.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031714629 MORTGAGORS: NUTTER GUY
REGION CODE ADDRESS : 457 LINCOLN BOULEVARD
01 CITY : SANTA MONICA
STATE/ZIP : CA 90402
MORTGAGE AMOUNT : 420,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 420,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,794.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 56.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,689,500.00
P & I AMT: 11,508.95
UPB AMT: 1,688,989.84
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 139
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031714694 MORTGAGORS: KELLEY KEVIN
KELLEY PATRICIA
REGION CODE ADDRESS : 2925 HERMOSITA DRIVE
01 CITY : GLENDALE
STATE/ZIP : CA 91208
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,762.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031714744 MORTGAGORS: FALL MARK
FALL JANE
REGION CODE ADDRESS : 456 DAROCA AVE
01 CITY : SAN GABRIEL
STATE/ZIP : CA 91775
MORTGAGE AMOUNT : 256,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,294.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,728.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031714785 MORTGAGORS: BISHOP RICHARD
BISHOP A.
REGION CODE ADDRESS : 9705 MILL RACE ESTATES DRIVE
01 CITY : VIENNA
STATE/ZIP : VA 22182
MORTGAGE AMOUNT : 560,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 559,552.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,772.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031714835 MORTGAGORS: BARKER THOMAS
BARKER ROBIN
REGION CODE ADDRESS : 1235 CHARLES STREET
01 CITY : PASADENA
STATE/ZIP : CA 91103
MORTGAGE AMOUNT : 480,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 479,586.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,113.28 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031714876 MORTGAGORS: ERIKSSON ERIK
ERIKSSON EILEEN
REGION CODE ADDRESS : 2209 DUSTAN ROAD
01 CITY : HOUSTON
STATE/ZIP : TX 77005
MORTGAGE AMOUNT : 416,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 416,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,767.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 77.03700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,032,500.00
P & I AMT: 13,619.34
UPB AMT: 2,031,196.29
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 140
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031714934 MORTGAGORS: INGRAM ARTHUR
INGRAM DIANE
REGION CODE ADDRESS : 2711 FAIRVIEW ROAD
01 CITY : RALEIGH
STATE/ZIP : NC 27608
MORTGAGE AMOUNT : 410,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 410,188.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,872.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 65.72800
----------------------------------------------------------------
0 0031714991 MORTGAGORS: BALDE EDEN
BALDE NOLANDO
REGION CODE ADDRESS : 36121 CRYSTAL SPRINGS DRIVE
01 CITY : NEWARK
STATE/ZIP : CA 94560
MORTGAGE AMOUNT : 318,158.00 OPTION TO CONVERT :
UNPAID BALANCE : 317,672.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,197.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.99900
----------------------------------------------------------------
0 0031715170 MORTGAGORS: MARSHALL PAUL
MARSHALL SALLY
REGION CODE ADDRESS : 4 GARY COURT
01 CITY : FLANDERS
STATE/ZIP : NJ 07836
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,799.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,887.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.41100
----------------------------------------------------------------
0 0031715337 MORTGAGORS: MOORE JEFFREY
PETERSON-MOORE LILLIAN
REGION CODE ADDRESS : 137-137A ELODIA CIRCLE
01 CITY : NAPA
STATE/ZIP : CA 94558
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 360,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,425.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031715444 MORTGAGORS: HERRITT JAMES
HERRITT CHERYL
REGION CODE ADDRESS : 2017 LAKE HEATHER DRIVE
01 CITY : BIRMINGHAM
STATE/ZIP : AL 35242
MORTGAGE AMOUNT : 441,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 441,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,050.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,800,558.00
P & I AMT: 12,433.12
UPB AMT: 1,799,260.29
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 141
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031715600 MORTGAGORS: PORTEUS MEGAN
REGION CODE ADDRESS : 2033 COMMODORE ROAD
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92660
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,619.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,453.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031715634 MORTGAGORS: LABITZKE GEOFF
LABITZKE ROBIN
REGION CODE ADDRESS : 420 EVANS AVENUE
01 CITY : SONOMA
STATE/ZIP : CA 95476
MORTGAGE AMOUNT : 390,160.00 OPTION TO CONVERT :
UNPAID BALANCE : 389,863.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,694.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031715873 MORTGAGORS: HIGGINS SUSAN
HIGGINS JOSEPH
REGION CODE ADDRESS : 1568 SHRADER STREET
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94117
MORTGAGE AMOUNT : 385,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 385,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,593.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 71.96260
----------------------------------------------------------------
0 0031715881 MORTGAGORS: ANDERSON CARL
ANDERSON PAULA
REGION CODE ADDRESS : 1378 HAMBLEN WAY
01 CITY : COOL
STATE/ZIP : CA 95614
MORTGAGE AMOUNT : 238,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,323.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,667.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031715956 MORTGAGORS: SHAW GREG
GRACE MELODIE
REGION CODE ADDRESS : 318 NORTH WINNIPEG PLACE
01 CITY : LONG BEACH
STATE/ZIP : CA 90814
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,777.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,944.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,798,660.00
P & I AMT: 12,353.77
UPB AMT: 1,797,583.34
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 142
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031716095 MORTGAGORS: KNOLL JEFFREY
KNOLL YANIRA
REGION CODE ADDRESS : 23006 PEACOCK COURT
01 CITY : CALABASAS
STATE/ZIP : CA 91302
MORTGAGE AMOUNT : 397,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 396,666.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,608.01 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 69.04300
----------------------------------------------------------------
0 0031716343 MORTGAGORS: JACKSON J
JACKSON KANDI
REGION CODE ADDRESS : 4220 OCEAN DRIVE
01 CITY : MANHATTAN BEACH
STATE/ZIP : CA 90266
MORTGAGE AMOUNT : 392,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 386,581.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,674.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 63.74000
----------------------------------------------------------------
0 0031716590 MORTGAGORS: DOYLE TODD
DOYLE LAURIE
REGION CODE ADDRESS : 4728 PLUMMER COURT
01 CITY : SAN DIEGO
STATE/ZIP : CA 92130
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 379,375.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,528.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 50.66600
----------------------------------------------------------------
0 0031716699 MORTGAGORS: ROONEY WILLIAM
ROONEY SUSAN
REGION CODE ADDRESS : 12835 PARAPET WAY
01 CITY : OAK HILL
STATE/ZIP : VA 20171
MORTGAGE AMOUNT : 505,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 505,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,317.49 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 78.48100
----------------------------------------------------------------
0 0031716905 MORTGAGORS: MC NEIL BRIAN
MC NEIL SHARON
REGION CODE ADDRESS : 26981 ESCONDIDO LANE
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92691
MORTGAGE AMOUNT : 266,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,859.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 67.34100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,940,000.00
P & I AMT: 12,987.70
UPB AMT: 1,933,623.07
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 143
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031716970 MORTGAGORS: RAND MARK
REGION CODE ADDRESS : 6508 SUDBURY ROAD
01 CITY : PLANO
STATE/ZIP : TX 75024
MORTGAGE AMOUNT : 1,435,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 1,434,012.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 10,404.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 015
LTV : 70.00000
----------------------------------------------------------------
0 0031717010 MORTGAGORS: WILSON KIMBERLY
REGION CODE ADDRESS : 373 LAKE FORREST LANE
01 CITY : ATLANTA
STATE/ZIP : GA 30342
MORTGAGE AMOUNT : 241,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,685.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.15384
----------------------------------------------------------------
0 0031717077 MORTGAGORS: FRYE EDWARD
FRYE HELEN
REGION CODE ADDRESS : UNIT 172 THE OAKS CONDOMINIUM
01 CITY : FAIRFIELD
STATE/ZIP : CT 06430
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,771.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,072.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 60.97500
----------------------------------------------------------------
0 0031717093 MORTGAGORS: CHO BRIAN
CHO HELEN
REGION CODE ADDRESS : 2900 EAST CHEVY CHASE DR.
01 CITY : GLENDALE
STATE/ZIP : CA 91206
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,720.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,358.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 64.81400
----------------------------------------------------------------
0 0031717119 MORTGAGORS: STEVENS DAVID
REGION CODE ADDRESS : 2630 BAYSIDE LANE
01 CITY : SAN DIEGO
STATE/ZIP : CA 92109
MORTGAGE AMOUNT : 261,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,896.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 52.32000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,587,600.00
P & I AMT: 18,416.68
UPB AMT: 2,586,104.28
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 144
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031717390 MORTGAGORS: MAGID RONALD
PFEFFERMAN NAOMI
REGION CODE ADDRESS : 10607 WELLWORTH AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90024
MORTGAGE AMOUNT : 365,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 365,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,397.79 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 60.83300
----------------------------------------------------------------
0 0031717416 MORTGAGORS: WOOSTER MARK
WOOSTER KATHERINE
REGION CODE ADDRESS : 15989 CROWN VALLEY ROAD
01 CITY : POWAY
STATE/ZIP : CA 92064
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,447.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 55.55500
----------------------------------------------------------------
0 0031717846 MORTGAGORS: MAKARIAN VAHIK
REGION CODE ADDRESS : 815 EAST OLIVE AVENUE
01 CITY : BURBANK
STATE/ZIP : CA 91501
MORTGAGE AMOUNT : 262,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,300.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,813.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031718190 MORTGAGORS: BIGGER JAMES
BIGGER JENNIFER
REGION CODE ADDRESS : 730 NORTH POND COURT
01 CITY : LAFAYETTE
STATE/ZIP : CA 94549
MORTGAGE AMOUNT : 327,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 326,850.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,260.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.98800
----------------------------------------------------------------
0 0031718596 MORTGAGORS: IKER MARTIN
IKER CYNTHIA
REGION CODE ADDRESS : 7417 DARNOCH WAY
01 CITY : WEST HILLS
STATE/ZIP : CA 91307
MORTGAGE AMOUNT : 370,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 369,391.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,461.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.92100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,674,850.00
P & I AMT: 11,380.62
UPB AMT: 1,673,542.20
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 145
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031718638 MORTGAGORS: LIU BYRON
LIU PAMELA
REGION CODE ADDRESS : 8268 REGENCY DRIVE
01 CITY : PLEASANTON
STATE/ZIP : CA 94588
MORTGAGE AMOUNT : 584,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 582,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,885.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031719016 MORTGAGORS: WIDNEY DOUGLAS
REGION CODE ADDRESS : 1619 KING STREET
01 CITY : SANTA CRUZ
STATE/ZIP : CA 95060
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,970.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 75.34200
----------------------------------------------------------------
0 0031719057 MORTGAGORS: LEWIS JOHN
REGION CODE ADDRESS : 9218 FIELDWOOD LANE
01 CITY : FAIR OAKS
STATE/ZIP : CA 95628
MORTGAGE AMOUNT : 283,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,036.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,979.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 04/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031719321 MORTGAGORS: CUNNINGHAM ROBERT
REGION CODE ADDRESS : 1183 BIG BASIN ROAD
01 CITY : LIVERMORE
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 228,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 227,651.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,574.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.98000
----------------------------------------------------------------
0 0031719479 MORTGAGORS: GEOZIAN JACK
REGION CODE ADDRESS : 2660 CHARL PLACE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90046
MORTGAGE AMOUNT : 318,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 317,269.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,196.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 63.60000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,688,100.00
P & I AMT: 11,606.07
UPB AMT: 1,684,757.81
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 146
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031719529 MORTGAGORS: HIGASHI KENT
HIGASHI DIANA
REGION CODE ADDRESS : 3310 N RANCHO EL ENCINO DRIVE
01 CITY : COVINA
STATE/ZIP : CA 91724
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,555.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,937.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031719750 MORTGAGORS: KARAKOS CHRISTOPHER
KARAKOS JOYCE
REGION CODE ADDRESS : 177 KONNER AVENUE
01 CITY : MONTVILLE
STATE/ZIP : NJ 07045
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 340,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,319.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.06900
----------------------------------------------------------------
0 0031719784 MORTGAGORS: ASKINS ROBERT
ASKINS JAMIE
REGION CODE ADDRESS : 118 THOMAS WOODS CT
01 CITY : HUNTSVILLE
STATE/ZIP : AL 35806
MORTGAGE AMOUNT : 256,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,194.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,727.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 94.99800
----------------------------------------------------------------
0 0031719933 MORTGAGORS: WIENER HAROLD
CAPLAN HANNAH
REGION CODE ADDRESS : 419 NEW CASTLE COURT
01 CITY : MORGANVILLE
STATE/ZIP : NJ 07751
MORTGAGE AMOUNT : 273,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,450.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,935.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 94.06734
----------------------------------------------------------------
0 0031720238 MORTGAGORS: SCHIELDGE MARK
SCHIELDGE JAMI
REGION CODE ADDRESS : 5110 VISTA MONTANA
01 CITY : YORBA LINDA
STATE/ZIP : CA 92886
MORTGAGE AMOUNT : 251,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,293.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,673.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 75.07400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,405,350.00
P & I AMT: 9,592.92
UPB AMT: 1,404,494.35
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 147
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031720246 MORTGAGORS: CURRIER JAMES
CURRIER JANET
REGION CODE ADDRESS : 45593 CAMINO RUBI
01 CITY : TEMECULA
STATE/ZIP : CA 92592
MORTGAGE AMOUNT : 270,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,388.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,845.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 94.98900
----------------------------------------------------------------
0 0031720329 MORTGAGORS: PHILLIPS ROBERT
PHILLIPS MICHELLE
REGION CODE ADDRESS : 541 WALTER AVENUE
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91320
MORTGAGE AMOUNT : 261,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,690.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,764.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0031720550 MORTGAGORS: ASCHBRENNER GENE
ASCHBRENNER NINA
REGION CODE ADDRESS : 515 CAMINO DE ORCHIDIA
01 CITY : ENCINITAS
STATE/ZIP : CA 92024
MORTGAGE AMOUNT : 480,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 479,620.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,315.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 58.18100
----------------------------------------------------------------
0 0031720576 MORTGAGORS: WILCOX THEODORE
WILCOX LENORE
REGION CODE ADDRESS : 130 SIXTH AVENUE
01 CITY : SANTA CRUZ
STATE/ZIP : CA 95062
MORTGAGE AMOUNT : 519,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 519,592.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,770.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 79.99800
----------------------------------------------------------------
0 0031720667 MORTGAGORS: BAUMAN RICHARD
REGION CODE ADDRESS : 1201 ALVIRA STREET
01 CITY : LOS ANGELES
STATE/ZIP : CA 90035
MORTGAGE AMOUNT : 443,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 442,845.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,985.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,975,650.00
P & I AMT: 13,681.62
UPB AMT: 1,974,137.21
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 148
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031720691 MORTGAGORS: MESA SCOTT
MESA KERRI
REGION CODE ADDRESS : 451 SHEPHERD AVENUE
01 CITY : SAN JOSE
STATE/ZIP : CA 95125
MORTGAGE AMOUNT : 314,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 313,748.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,115.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 77.33900
----------------------------------------------------------------
0 0031720725 MORTGAGORS: THOMAS G
THOMAS LAURA
REGION CODE ADDRESS : 758 MILLBROOK LANE
01 CITY : HAVERFORD
STATE/ZIP : PA 19041
MORTGAGE AMOUNT : 283,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,931.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031720824 MORTGAGORS: LAKE JOHN
LAKE BARBARA
REGION CODE ADDRESS : 16 MEADOWOOD DRIVE
01 CITY : LARKSPUR
STATE/ZIP : CA 94939
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,358.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 44.87100
----------------------------------------------------------------
0 0031720931 MORTGAGORS: HARMS MICHAEL
HARMS EVELYN
REGION CODE ADDRESS : 1837 SEADRIFT DRIVE
01 CITY : CORONA DEL MAR
STATE/ZIP : CA 92625
MORTGAGE AMOUNT : 503,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 503,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,560.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 68.90400
----------------------------------------------------------------
0 0031721186 MORTGAGORS: BOYD CRAIG
BOYD MARY JO
REGION CODE ADDRESS : 386 FAIRVIEW AVENUE
01 CITY : WINNETKA
STATE/ZIP : IL 60093
MORTGAGE AMOUNT : 530,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 530,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,615.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.64700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,980,200.00
P & I AMT: 13,581.17
UPB AMT: 1,979,948.90
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 149
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031721269 MORTGAGORS: KRONSBURG MICHEAL
REGION CODE ADDRESS : 2032 PRIMROSE AVENUE
01 CITY : SOUTH PASADENA
STATE/ZIP : CA 91030
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 304,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,048.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031722358 MORTGAGORS: QUINN JANNIE
GYORFFY LASZLO
REGION CODE ADDRESS : 5228 BELA DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95129
MORTGAGE AMOUNT : 488,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 487,619.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,329.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031722572 MORTGAGORS: LEONG MING
LEONG SOEISNA
REGION CODE ADDRESS : 16435 W. MOZART WAY
01 CITY : LOS GATOS
STATE/ZIP : CA 95032
MORTGAGE AMOUNT : 450,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 449,621.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,956.18 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 69.23000
----------------------------------------------------------------
0 0031722671 MORTGAGORS: TATE LAURENCE
TATE MARIANN
REGION CODE ADDRESS : 3171 FERNCREEK LANE
01 CITY : ESCONDIDO
STATE/ZIP : CA 92027
MORTGAGE AMOUNT : 268,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,550.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,879.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.99100
----------------------------------------------------------------
0 0031722713 MORTGAGORS: KNIPPLEBERG KIMBERLY
FETZER TERRY
REGION CODE ADDRESS : 1534 SLEEPING INDIAN ROAD
01 CITY : FALLBROOK
STATE/ZIP : CA 92028
MORTGAGE AMOUNT : 285,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,365.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,900.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,796,350.00
P & I AMT: 12,112.54
UPB AMT: 1,795,157.71
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 150
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031722861 MORTGAGORS: WEINER DAVID
REGION CODE ADDRESS : 8815 WONDERLAND AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90046
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,978.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 69.37700
----------------------------------------------------------------
0 0031722978 MORTGAGORS: MC ELLIS JAMES
MC ELLIS PATRICIA
REGION CODE ADDRESS : 9714 BOTHWELL ROAD
01 CITY : NORTHRIDGE
STATE/ZIP : CA 91324
MORTGAGE AMOUNT : 345,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 345,309.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,270.35 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031722994 MORTGAGORS: ROBERTS JAMES
ROBERTS CAROL
REGION CODE ADDRESS : 848 EAST MOUNTAIN VIEW AVENUE
01 CITY : GLENDORA
STATE/ZIP : CA 91741
MORTGAGE AMOUNT : 249,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,850.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,768.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031723026 MORTGAGORS: GARCIA MICHAEL
GARCIA LINDA
REGION CODE ADDRESS : 640 EAST HILLSIDE
01 CITY : BARRINGTON
STATE/ZIP : IL 60010
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 328,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 71.61572
----------------------------------------------------------------
0 0031723489 MORTGAGORS: PARK JI
PARK HEA
REGION CODE ADDRESS : 235 S TOWER DRIVE #202
01 CITY : BEVERLY HILLS
STATE/ZIP : CA 90211
MORTGAGE AMOUNT : 266,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,792.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,814.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,479,450.00
P & I AMT: 10,069.22
UPB AMT: 1,478,952.14
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 151
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031723661 MORTGAGORS: WILSON JONATHAN
REGION CODE ADDRESS : 4604 MYSTIC DRIVE
01 CITY : ATLANTA
STATE/ZIP : GA 30342
MORTGAGE AMOUNT : 274,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,656.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,895.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031724289 MORTGAGORS: MUELLER SCOTT
MUELLER LYNN
REGION CODE ADDRESS : 21 SPRING LANE
01 CITY : BARRINGTON HILLS
STATE/ZIP : IL 60010
MORTGAGE AMOUNT : 464,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 463,326.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,284.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031724297 MORTGAGORS: ANDERSON TIMOTHY
ANDERSON KATHERINE
REGION CODE ADDRESS : 12529 ANAND BROOK DRIVE
01 CITY : ORLAND PARK
STATE/ZIP : IL 60462
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,404.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,796.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.28600
----------------------------------------------------------------
0 0031724321 MORTGAGORS: ZORN RANDY
ZORN MICHELLE
REGION CODE ADDRESS : 4415 WEST 233RD STREET
01 CITY : TORRANCE
STATE/ZIP : CA 90505
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,787.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,855.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031724339 MORTGAGORS: SMOLLEN JOHN
SMOLLEN ELEANOR
REGION CODE ADDRESS : 3527 NORTH JANSSEN AVENUE
01 CITY : CHICAGO
STATE/ZIP : IL 60657
MORTGAGE AMOUNT : 404,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 403,893.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,830.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,815,300.00
P & I AMT: 12,662.87
UPB AMT: 1,812,068.28
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 152
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031724479 MORTGAGORS: RUEHL MICHAEL
RUEHL BRENDA
REGION CODE ADDRESS : 875 W GOODRICH PLACE
01 CITY : PALATINE
STATE/ZIP : IL 60067
MORTGAGE AMOUNT : 267,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,401.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,866.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.40000
----------------------------------------------------------------
0 0031724503 MORTGAGORS: SKELTON PATRICK
SKELTON MARGARET
REGION CODE ADDRESS : 200 S. PARK ROAD
01 CITY : LAGRANGE
STATE/ZIP : IL 60525
MORTGAGE AMOUNT : 375,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 374,455.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,654.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 57.87000
----------------------------------------------------------------
0 0031724511 MORTGAGORS: DEFORGE MICHAEL
DEFORGE LAURA
REGION CODE ADDRESS : 2314 WEST MELROSE
01 CITY : CHICAGO
STATE/ZIP : IL 60618
MORTGAGE AMOUNT : 330,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 329,409.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,310.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031724529 MORTGAGORS: MABBUN PABLO
REGION CODE ADDRESS : 2215 DELORE DR.
01 CITY : MCHENRY
STATE/ZIP : IL 60050
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,255.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,496.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 64.51600
----------------------------------------------------------------
0 0031724594 MORTGAGORS: DORR IDA
DORR ROBERT
REGION CODE ADDRESS : 10767 INSPIRATION CIRCLE
01 CITY : DUBLIN
STATE/ZIP : CA 94568
MORTGAGE AMOUNT : 440,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 440,250.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,003.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,912,650.00
P & I AMT: 13,330.69
UPB AMT: 1,909,772.75
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 153
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031724685 MORTGAGORS: BIRD CHRISTOPHER
REGION CODE ADDRESS : 13233 GLASGOW PLACE
01 CITY : HAWTHORNE
STATE/ZIP : CA 90250
MORTGAGE AMOUNT : 237,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,409.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,600.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031724875 MORTGAGORS: FREDRICKSON ROBERT
FREDRICKSON SUSAN
REGION CODE ADDRESS : 3080 VALLEYWOOD COURT
01 CITY : SAN JOSE
STATE/ZIP : CA 95148
MORTGAGE AMOUNT : 281,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,041.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,966.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 72.11538
----------------------------------------------------------------
0 0031725013 MORTGAGORS: CASEY SHAWN
CASEY LINDA
REGION CODE ADDRESS : 90 CARLTON DRIVE
01 CITY : DEL REY OAKS
STATE/ZIP : CA 93940
MORTGAGE AMOUNT : 313,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 313,255.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,138.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 76.46300
----------------------------------------------------------------
0 0031725476 MORTGAGORS: STEADMAN RANDY
STEADMAN DEBRA
REGION CODE ADDRESS : 17307 NE 26TH COURT
01 CITY : REDMOND
STATE/ZIP : WA 98052
MORTGAGE AMOUNT : 372,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 371,730.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,633.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031725526 MORTGAGORS: PATCH BENJAMIN
PATCH ELLEN
REGION CODE ADDRESS : 63 OLD NORWALK ROAD
01 CITY : NEW CANAAN
STATE/ZIP : CT 06840
MORTGAGE AMOUNT : 480,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 480,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,233.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,684,350.00
P & I AMT: 11,572.77
UPB AMT: 1,683,437.44
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 154
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031725856 MORTGAGORS: MCCRANN LAWRENCE
REGION CODE ADDRESS : 10 HALLACHER DRIVE
01 CITY : NORTHPORT
STATE/ZIP : NY 11768
MORTGAGE AMOUNT : 385,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 385,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,782.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/23
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 68.14100
----------------------------------------------------------------
0 0031726029 MORTGAGORS: JETER VICTOR
JETER BONNIE
REGION CODE ADDRESS : 2216 HUNTINGTON LANE B
01 CITY : REDONDO BEACH
STATE/ZIP : CA 90278
MORTGAGE AMOUNT : 329,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 329,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,137.78 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031726284 MORTGAGORS: BAIM GARY
BAIM LINDA
REGION CODE ADDRESS : 17156 BALLINGER STREET
01 CITY : NORTHRIDGE
STATE/ZIP : CA 91325
MORTGAGE AMOUNT : 376,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 375,713.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,596.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031726540 MORTGAGORS: MATHEWS JOHN
MATHEWS DETRA
REGION CODE ADDRESS : 875 SOUTH SWALLOW WAY
01 CITY : ANAHEIM
STATE/ZIP : CA 92807
MORTGAGE AMOUNT : 352,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 351,711.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,341.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031726573 MORTGAGORS: COX MICHAEL
COX PATRICIA
REGION CODE ADDRESS : 10341 GLENVIEW AVENUE
01 CITY : CUPERTINO
STATE/ZIP : CA 95014
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,072.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 48.38700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,742,600.00
P & I AMT: 11,931.43
UPB AMT: 1,742,025.35
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 155
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031726623 MORTGAGORS: HILL BARTON
HILL N.
REGION CODE ADDRESS : 2231 PINE STREET
01 CITY : BAKERSFIELD
STATE/ZIP : CA 93301
MORTGAGE AMOUNT : 413,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 412,685.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,852.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 77.92400
----------------------------------------------------------------
0 0031726698 MORTGAGORS: ERLE STEVE
REGION CODE ADDRESS : 2536 CANYON DRIVE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90068
MORTGAGE AMOUNT : 450,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 449,666.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,146.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031726706 MORTGAGORS: RAFAELOFF FARZANEH
REGION CODE ADDRESS : 464 SOUTH HAMEL ROAD
01 CITY : LOS ANGELES
STATE/ZIP : CA 90048
MORTGAGE AMOUNT : 525,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 524,590.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,581.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0031726797 MORTGAGORS: MANTLE GREGORY
MANTLE MARY
REGION CODE ADDRESS : 8145 E. WHISPERING WIND DRIVE
01 CITY : SCOTTSDALE
STATE/ZIP : AZ 85255
MORTGAGE AMOUNT : 440,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 440,550.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,042.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031726813 MORTGAGORS: LACY HAROLD
LACY LYNNE
REGION CODE ADDRESS : 3291 BACCARAT STREET
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91360
MORTGAGE AMOUNT : 303,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 302,769.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,092.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.31900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,131,550.00
P & I AMT: 14,715.91
UPB AMT: 2,130,261.66
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 156
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031726854 MORTGAGORS: HAHN BRENT
HAHN BOBBI
REGION CODE ADDRESS : 1533 NORMAN AVENUE
01 CITY : SAN JOSE
STATE/ZIP : CA 95125
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,041.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031726953 MORTGAGORS: MARRA ANTHONY
MARRA DANNIELLE
REGION CODE ADDRESS : 263 AVENIDA DE MONACO
01 CITY : CARDIFF
STATE/ZIP : CA 92007
MORTGAGE AMOUNT : 389,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 389,196.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,657.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.12900
----------------------------------------------------------------
0 0031726979 MORTGAGORS: TALLEUR WAYNE
TALLUER JANICE
REGION CODE ADDRESS : 18682 LOCKSLEY STREET
01 CITY : SAN DIEGO
STATE/ZIP : CA 92128
MORTGAGE AMOUNT : 308,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 308,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,132.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031727183 MORTGAGORS: RASINSKI EDWARD
RASINSKI LISA
REGION CODE ADDRESS : 228 MONROE AVENUE
01 CITY : MONTGOMERY TOWNSHIP
STATE/ZIP : NJ 08502
MORTGAGE AMOUNT : 408,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 407,681.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,783.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 84.38400
----------------------------------------------------------------
0 0031727308 MORTGAGORS: JACKSON IVAN
JACKSON BEVERLY
REGION CODE ADDRESS : 6 BELLE OAK ROAD
01 CITY : DOTHAN
STATE/ZIP : AL 36303
MORTGAGE AMOUNT : 382,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 382,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,573.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 59.46400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,780,300.00
P & I AMT: 12,188.48
UPB AMT: 1,779,677.87
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 157
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031727563 MORTGAGORS: KETTERER TODD
KETTERER LISE
REGION CODE ADDRESS : 10 OSPREY AVENUE
01 CITY : ALISO VIEJO
STATE/ZIP : CA 92656
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,800.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,746.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031727670 MORTGAGORS: TODD KNOX
KAPLAN CAROLYN
REGION CODE ADDRESS : 1125 OXFORD ROAD
01 CITY : ATLANTA
STATE/ZIP : GA 30306
MORTGAGE AMOUNT : 420,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 420,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,794.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031727852 MORTGAGORS: SEALS DANIEL
SEALS DIANE
REGION CODE ADDRESS : 1433 KEEL DRIVE
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92625
MORTGAGE AMOUNT : 480,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 479,625.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,274.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031727910 MORTGAGORS: CLEMENT PETER
REGION CODE ADDRESS : 519 ROSE LANE
01 CITY : HAVERFORD
STATE/ZIP : PA 19041
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,786.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,933.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 57.73100
----------------------------------------------------------------
0 0031727951 MORTGAGORS: MC CLAREN GAVIN
MC CLAREN NORA
REGION CODE ADDRESS : 1382 CALLE CHRISTOPHER
01 CITY : ENCINITAS
STATE/ZIP : CA 92024
MORTGAGE AMOUNT : 269,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,885.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,705,600.00
P & I AMT: 11,634.07
UPB AMT: 1,704,812.78
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 158
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031728082 MORTGAGORS: BUEHLER KNUTE
BUEHLER PATRICIA
REGION CODE ADDRESS : 1122 NW FOXWOOD
01 CITY : BEND
STATE/ZIP : OR 97701
MORTGAGE AMOUNT : 561,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 561,700.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,784.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
0 0031728132 MORTGAGORS: SHAHNAZAROV ANDREI
REGION CODE ADDRESS : 806 RIVERBANK ROAD
01 CITY : STAMFORD
STATE/ZIP : CT 06903
MORTGAGE AMOUNT : 412,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 411,678.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,810.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031728538 MORTGAGORS: SCHMIDT MARTIN
SCHMIDT DONNA
REGION CODE ADDRESS : 4623 BLACKFOOT AVE
01 CITY : SAN DIEGO
STATE/ZIP : CA 92117
MORTGAGE AMOUNT : 276,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,789.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,906.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031728546 MORTGAGORS: DEVERAUX DANNY
DEVERAUX SALLY
REGION CODE ADDRESS : 5800 IMPALA TRAIL
01 CITY : SANTA MARIA
STATE/ZIP : CA 93455
MORTGAGE AMOUNT : 306,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 306,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,064.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031728553 MORTGAGORS: BOECK WILLIAM
BOECK MARIE
REGION CODE ADDRESS : 6568 WEST 81ST STREET
01 CITY : LOS ANGELES
STATE/ZIP : CA 90045
MORTGAGE AMOUNT : 232,160.00 OPTION TO CONVERT :
UNPAID BALANCE : 232,160.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,683.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,788,260.00
P & I AMT: 12,248.72
UPB AMT: 1,787,728.58
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 159
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031728579 MORTGAGORS: NEVINS GREGORY
REGION CODE ADDRESS : 3811-3813 18TH STREET
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94114
MORTGAGE AMOUNT : 295,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,062.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 62.76500
----------------------------------------------------------------
0 0031728637 MORTGAGORS: WARGO WILLIAM
BARNETT LYNNE
REGION CODE ADDRESS : 636 GEORGINE ROAD
01 CITY : FALLBROOK
STATE/ZIP : CA 92028
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,792.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,957.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031728645 MORTGAGORS: YATES CHARLES
REGION CODE ADDRESS : 745 PINELEAF COURT
01 CITY : ALPHARETTA
STATE/ZIP : GA 30022
MORTGAGE AMOUNT : 637,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 636,603.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,346.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
0 0031728702 MORTGAGORS: WALKER SCOTT
WALKER KIMBERLY
REGION CODE ADDRESS : 640 LANINI DRIVE
01 CITY : HOLLISTER
STATE/ZIP : CA 95023
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,782.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,123.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031728868 MORTGAGORS: BAGLAY ROMAN
KULIKOVA LARISA
REGION CODE ADDRESS : 6606 DEVONSHIRE DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95129
MORTGAGE AMOUNT : 404,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 403,700.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,824.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.81400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,916,100.00
P & I AMT: 13,314.85
UPB AMT: 1,914,878.23
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 160
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031729213 MORTGAGORS: NATIVIDAD FRANK
NATIVIDAD LILLY
REGION CODE ADDRESS : 824 ADELITA STREET
01 CITY : MONTEBELLO
STATE/ZIP : CA 90640
MORTGAGE AMOUNT : 261,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,065.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,871.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031729437 MORTGAGORS: YOKIM SCOTT
YOKIM SHERRY
REGION CODE ADDRESS : 10501 WARWICK AVENUE
01 CITY : FAIRFAX
STATE/ZIP : VA 22030
MORTGAGE AMOUNT : 286,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,951.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 93.77000
----------------------------------------------------------------
0 0031729825 MORTGAGORS: GOMEZ FRANK
GONZALEZ-GOMEZ LILIA
REGION CODE ADDRESS : 20938 BLACK STALLION PLACE
01 CITY : LOS ANGELES COUNTY
STATE/ZIP : CA 91724
MORTGAGE AMOUNT : 290,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,215.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,984.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99000
----------------------------------------------------------------
0 0031729908 MORTGAGORS: HANSEN TIMOTHY
HERRERA VERONICA
REGION CODE ADDRESS : 772 SADDLEBACK CIRCLE
01 CITY : LIVERMORE,
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 254,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,296.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,714.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 94.98200
----------------------------------------------------------------
0 0031730161 MORTGAGORS: RUGINIS ALGIS
RUGINIS CINDY
REGION CODE ADDRESS : 2684 FOX RIVER LANE
01 CITY : NAPERVILLE
STATE/ZIP : IL 60565
MORTGAGE AMOUNT : 235,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,592.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,626.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 04/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 62.80000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,328,150.00
P & I AMT: 9,148.28
UPB AMT: 1,326,170.02
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 161
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031730401 MORTGAGORS: BROOKS GARY
BROOKS SHIREEN
REGION CODE ADDRESS : 14750 SUNRISE HILLS ROAD
01 CITY : RIVERSIDE
STATE/ZIP : CA 92508
MORTGAGE AMOUNT : 267,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,866.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 71.20000
----------------------------------------------------------------
0 0031730450 MORTGAGORS: MCCARTER WILLIAM
MCCARTER DENISE
REGION CODE ADDRESS : 37099 OAK GLEN ROAD
01 CITY : YUCAIPA
STATE/ZIP : CA 92399
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,017.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 78.08200
----------------------------------------------------------------
0 0031730542 MORTGAGORS: LACURTO JOSEPH
ANDERSON PHYLLIS
REGION CODE ADDRESS : 6408 LITTLE LEIGH WAY
01 CITY : CABIN JOHN
STATE/ZIP : MD 20818
MORTGAGE AMOUNT : 414,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 414,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,862.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031731086 MORTGAGORS: YOO HO
REGION CODE ADDRESS : 2704 SOUTH GEORGE LANE
01 CITY : DIAMOND BAR
STATE/ZIP : CA 91789
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,813.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,891.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031731243 MORTGAGORS: HESCHONG ERIC
REGION CODE ADDRESS : 13457 MAGNOLIA BOULEVARD
01 CITY : SHERMAN OAKS
STATE/ZIP : CA 91423
MORTGAGE AMOUNT : 278,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,899.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.77000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,508,800.00
P & I AMT: 10,536.78
UPB AMT: 1,508,613.67
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 162
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031731276 MORTGAGORS: HILL DAVID
HILL JANICE
REGION CODE ADDRESS : 74 RAPHAEL DRIVE
01 CITY : IRWIN
STATE/ZIP : PA 15642
MORTGAGE AMOUNT : 236,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,650.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,554.63 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 89.99500
----------------------------------------------------------------
0 0031731300 MORTGAGORS: OMOHUNDRO WILLIAM
OMOHUNDRO JIN JA
REGION CODE ADDRESS : 3030 COUNTRY LANE
01 CITY : WILMETTE
STATE/ZIP : IL 60091
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,841.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 49.09000
----------------------------------------------------------------
0 0031731359 MORTGAGORS: HANCOCK JOHN
HANCOCK VIRGINIA
REGION CODE ADDRESS : 88 NORTH COVE ROAD
01 CITY : OLD SAYBROOK
STATE/ZIP : CT 06475
MORTGAGE AMOUNT : 398,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 398,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,647.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 74.74100
----------------------------------------------------------------
0 0031731433 MORTGAGORS: LINK ROBERT
LINK RUTH
REGION CODE ADDRESS : 14608 SUMMIT OAKS DRIVE
01 CITY : BURNSVILLE
STATE/ZIP : MN 55337
MORTGAGE AMOUNT : 287,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,120.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,935.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 94.99100
----------------------------------------------------------------
0 0031731581 MORTGAGORS: DRISCOLL EDMUND
DRISCOLL JANICE
REGION CODE ADDRESS : 3206 NAVY LANE
01 CITY : HERNDON
STATE/ZIP : VA 20171
MORTGAGE AMOUNT : 450,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 450,302.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,885.89 OUTSIDE CONV DATE :
LIFETIME RATE : 6.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.62500 PRODUCT CODE : 002
LTV : 79.99600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,642,700.00
P & I AMT: 10,866.25
UPB AMT: 1,642,072.55
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 163
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031732084 MORTGAGORS: CRAIG ANDREW
CRAIG MARILYN
REGION CODE ADDRESS : 4635 SW DOGWOOD DRIVE
01 CITY : LAKE OSWEGO
STATE/ZIP : OR 97035
MORTGAGE AMOUNT : 345,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 343,360.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,353.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 03/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 63.88800
----------------------------------------------------------------
0 0031732092 MORTGAGORS: ALTSHULER MAURICE
ALTSHULER LA VERNE
REGION CODE ADDRESS : 17591 LA BRISA
01 CITY : SAN DIEGO
STATE/ZIP : CA 90267
MORTGAGE AMOUNT : 515,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 514,588.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,469.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 68.12100
----------------------------------------------------------------
0 0031732258 MORTGAGORS: THOMPSON JESSE
THOMPSON KRISTIE
REGION CODE ADDRESS : 122 DEERTRAIL CIRCLE
01 CITY : ARROYO GRANDE
STATE/ZIP : CA 93420
MORTGAGE AMOUNT : 262,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,813.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031732704 MORTGAGORS: HASKELL JOSEPHINE
HASKELL RICHARD
REGION CODE ADDRESS : 1634 SOUTH MAYFLOWER AVENUE
01 CITY : ARCADIA
STATE/ZIP : CA 91006
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,799.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,887.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.79200
----------------------------------------------------------------
0 0031732753 MORTGAGORS: HOPE ROBERT
HOPE APRIL
REGION CODE ADDRESS : 264 AVENIDA DE LA VEREDA
01 CITY : OJAI AREA
STATE/ZIP : CA 93023
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,796.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,717.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,647,500.00
P & I AMT: 11,242.05
UPB AMT: 1,645,044.46
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 164
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031732837 MORTGAGORS: GREEN MICHAEL
LARSON EVA
REGION CODE ADDRESS : 84 NORTH SUNNYVISTA AVENUE
01 CITY : AGOURA AREA
STATE/ZIP : CA 91301
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,910.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031733272 MORTGAGORS: REUTER ELLEN
REGION CODE ADDRESS : 1063 REDMOND AVENUE
01 CITY : SAN JOSE
STATE/ZIP : CA 95120
MORTGAGE AMOUNT : 265,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,852.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 77.94100
----------------------------------------------------------------
0 0031733645 MORTGAGORS: KING MARTIN
KING ELLEN
REGION CODE ADDRESS : 1277 N. NORMAN PLACE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90049
MORTGAGE AMOUNT : 850,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 850,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 5,943.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 015
LTV : 73.91300
----------------------------------------------------------------
0 0031734163 MORTGAGORS: ROGERS LEE
ROGERS JULIE
REGION CODE ADDRESS : 1129 CAPITOL DRIVE #12, SAN PEDRO A
01 CITY : LOS ANGELES
STATE/ZIP : CA 90732
MORTGAGE AMOUNT : 234,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,617.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.99500
----------------------------------------------------------------
0 0031734296 MORTGAGORS: SMITH EDWARD
SMITH LINDA
REGION CODE ADDRESS : 2520 VICTORIA CIRCLE
01 CITY : ALPINE
STATE/ZIP : CA 91901
MORTGAGE AMOUNT : 249,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,783.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 88.92800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,878,200.00
P & I AMT: 13,107.77
UPB AMT: 1,878,200.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 165
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031734312 MORTGAGORS: DEMOTT MICHAEL
DEMOTT DEBORAH
REGION CODE ADDRESS : 2288 WEST VIEW STREET
01 CITY : FALLBROOK
STATE/ZIP : CA 92028
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,795.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031734387 MORTGAGORS: SHENOY ARAVIND
SHENOY BEENA
REGION CODE ADDRESS : 11906 SHOSHONE AVENUE
01 CITY : GRANADA HILLS AREA
STATE/ZIP : CA 91344
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,760.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,021.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 69.76700
----------------------------------------------------------------
0 0031734395 MORTGAGORS: LARKIN JOSEPH
REGION CODE ADDRESS : 43 THE FAIRWAYS
01 CITY : IPSWICH
STATE/ZIP : MA 01938
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 400,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,762.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031734536 MORTGAGORS: HENDRICK CHRISTA
KETTLE CELIA
REGION CODE ADDRESS : 3244 CHESHIRE DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95118
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,793.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,676.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031734551 MORTGAGORS: WELLS MICHAEL
WELLS CINDY
REGION CODE ADDRESS : 28057 CROCO PLACE
01 CITY : SANTA CLARITA
STATE/ZIP : CA 91351
MORTGAGE AMOUNT : 265,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,788.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,785.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 72.60200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,477,000.00
P & I AMT: 10,041.53
UPB AMT: 1,476,341.62
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 166
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031734569 MORTGAGORS: BEAVERS KAREN
REGION CODE ADDRESS : 1698 MOROCCO DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95125
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,992.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 68.67400
----------------------------------------------------------------
0 0031734577 MORTGAGORS: ZITO TERRENCE
ZITO BARBARA
REGION CODE ADDRESS : 166 17 MILE DRIVE
01 CITY : PACIFIC GROVE
STATE/ZIP : CA 93950
MORTGAGE AMOUNT : 348,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 347,728.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,373.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 60.00000
----------------------------------------------------------------
0 0031734593 MORTGAGORS: MERLO MICHAEL
MERLO LYNNETTE
REGION CODE ADDRESS : 23032 WEYMOUTH PLACE
01 CITY : VALENCIA AREA
STATE/ZIP : CA 91354
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,765.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,046.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.94900
----------------------------------------------------------------
0 0031734916 MORTGAGORS: JONES MICHAEL
JONES ROBERTA
REGION CODE ADDRESS : 29 ISLAND PARK
01 CITY : MONKEY ISLAND
STATE/ZIP : OK 74331
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,762.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031734965 MORTGAGORS: KIM JAMES
REGION CODE ADDRESS : 2063 W 245TH STREET
01 CITY : LOMITA
STATE/ZIP : CA 90717
MORTGAGE AMOUNT : 236,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,833.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,690.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,489,000.00
P & I AMT: 10,341.48
UPB AMT: 1,488,090.44
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 167
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031734999 MORTGAGORS: FEDER DAVID
FEDER JENNIE
REGION CODE ADDRESS : 7732 QUITASOL STREET
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 279,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,900.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,933.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
0 0031735061 MORTGAGORS: KELLY FRANK
KELLY BRIGITTE
REGION CODE ADDRESS : 809 GREENRIDGE ROAD
01 CITY : CORONA
STATE/ZIP : CA 91720
MORTGAGE AMOUNT : 235,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,466.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,607.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.99400
----------------------------------------------------------------
0 0031735137 MORTGAGORS: SCHULTZ JEFFREY
REGION CODE ADDRESS : 5 BYRON NELSON COURT
01 CITY : NEWNAN
STATE/ZIP : GA 30265
MORTGAGE AMOUNT : 238,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,664.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 83.80200
----------------------------------------------------------------
0 0031735194 MORTGAGORS: DAMPF RICHARD
DAMPF VANESSA
REGION CODE ADDRESS : 30 KENSETT AVENUE
01 CITY : NORWALK
STATE/ZIP : CT 06851
MORTGAGE AMOUNT : 444,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 443,653.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,028.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031735251 MORTGAGORS: BARKIN JAMES
BARKIN WENDY
REGION CODE ADDRESS : 5115 WILD GINGER COVE
01 CITY : NORCROSS
STATE/ZIP : GA 30092
MORTGAGE AMOUNT : 321,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 321,342.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,166.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,519,150.00
P & I AMT: 10,400.42
UPB AMT: 1,518,362.63
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 168
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031735269 MORTGAGORS: GESING ROBERT
GESING CHERYL
REGION CODE ADDRESS : 205 PARADISE VALLEY DRIVE
01 CITY : ALEXANDRIA
STATE/ZIP : OH 43001
MORTGAGE AMOUNT : 465,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 464,272.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,172.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 69.40200
----------------------------------------------------------------
0 0031735319 MORTGAGORS: SMITH LOVENA
REGION CODE ADDRESS : 13710 HIGHLAND ROAD
01 CITY : CLARKSVILLE
STATE/ZIP : MD 21029
MORTGAGE AMOUNT : 262,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,057.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,724.44 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031735335 MORTGAGORS: KROENCKE DAVID
KROENCKE LISA
REGION CODE ADDRESS : 4221 COLGATE AVENUE
01 CITY : UNIVERSITY PARK
STATE/ZIP : TX 75225
MORTGAGE AMOUNT : 519,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 518,584.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,496.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031735418 MORTGAGORS: HUBBARD CHARLES
HUBBARD ROSEMARIE
REGION CODE ADDRESS : 13706 LOST CREEK ROAD
01 CITY : TOMBALL
STATE/ZIP : TX 77375
MORTGAGE AMOUNT : 347,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 346,293.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,281.51 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 78.93100
----------------------------------------------------------------
0 0031735491 MORTGAGORS: CARRERA IVAN
CARRERA YOLANDA
REGION CODE ADDRESS : 18302 WICKHAM ROAD
01 CITY : OLNEY
STATE/ZIP : MD 20832
MORTGAGE AMOUNT : 376,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 375,069.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,501.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,969,800.00
P & I AMT: 13,176.21
UPB AMT: 1,966,278.83
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 169
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031735517 MORTGAGORS: KANG CHONG
KANG IN
REGION CODE ADDRESS : 2858 CONGRESS ROAD
01 CITY : PEBBLE BEACH
STATE/ZIP : CA 93953
MORTGAGE AMOUNT : 480,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 480,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,315.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 60.75900
----------------------------------------------------------------
0 0031735558 MORTGAGORS: PRATUCH VINCENT
PRATUCH PATRICIA
REGION CODE ADDRESS : 6292 RED FOX ESTATES COURT
01 CITY : SPRINGFIELD
STATE/ZIP : VA 22152
MORTGAGE AMOUNT : 281,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,372.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,178.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 06/01/18
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 72.00881
----------------------------------------------------------------
0 0031735814 MORTGAGORS: SCHWARTZ DAVID
SCHWARTZ ESTHER
REGION CODE ADDRESS : 100 RODEO DRIVE
01 CITY : OYSTER BAY COVE
STATE/ZIP : NY 11791
MORTGAGE AMOUNT : 370,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 369,696.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,461.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 30.20400
----------------------------------------------------------------
0 0031735921 MORTGAGORS: PAZZI CHARLES
PAZZI KAREN
REGION CODE ADDRESS : 16255 SHAKE RIDGE ROAD
01 CITY : SUTTER CREEK
STATE/ZIP : CA 95685
MORTGAGE AMOUNT : 276,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 276,639.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,912.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 74.82400
----------------------------------------------------------------
0 0031736267 MORTGAGORS: CARRILLO MARCO
HEDGES-CARRILLO MARY
REGION CODE ADDRESS : 8021 WINSFORD AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90045
MORTGAGE AMOUNT : 256,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,299.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,749.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,664,350.00
P & I AMT: 11,617.36
UPB AMT: 1,662,008.22
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 170
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031736549 MORTGAGORS: PRATT HENRY
STALL DEBORAH
REGION CODE ADDRESS : 5642 WEST GARY DRIVE
01 CITY : CHANDLER
STATE/ZIP : AZ 85226
MORTGAGE AMOUNT : 256,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,299.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,749.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031736622 MORTGAGORS: LUCE JOHN
LUCE RAE
REGION CODE ADDRESS : 734 OAKDALE AVENUE
01 CITY : MONROVIA
STATE/ZIP : CA 91016
MORTGAGE AMOUNT : 238,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,318.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,647.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031736697 MORTGAGORS: IVERSON JAMES
IVERSON ETHEL
REGION CODE ADDRESS : 7915 ROYAL ST.EAST UNIT 4
01 CITY : PARK CITY
STATE/ZIP : UT 84060
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 500,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,410.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 25.00000
----------------------------------------------------------------
0 0031736820 MORTGAGORS: SOTTILE SCOTT
REGION CODE ADDRESS : 86 LOCKWOOD RD
01 CITY : RIVERSIDE
STATE/ZIP : CT 06878
MORTGAGE AMOUNT : 511,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 511,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,529.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0031736846 MORTGAGORS: KANESHIRO ALAN
REGION CODE ADDRESS : 2825 PLAZA DEL AMO NO.180
01 CITY : TORRANCE
STATE/ZIP : CA 90503
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,740.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 69.56500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,746,000.00
P & I AMT: 12,077.46
UPB AMT: 1,745,618.42
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 171
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031736952 MORTGAGORS: GARNER WILLIAM
GARNER ANGELA
REGION CODE ADDRESS : 104 HUNTLY LANE
01 CITY : MOORESVILLE
STATE/ZIP : NC 28115
MORTGAGE AMOUNT : 240,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,357.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,620.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 94.98700
----------------------------------------------------------------
0 0031737067 MORTGAGORS: MASTERSON MARK
REGION CODE ADDRESS : 302 18TH STREET
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92648
MORTGAGE AMOUNT : 416,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 416,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,908.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.63600
----------------------------------------------------------------
0 0031737208 MORTGAGORS: YOUT WILLIAM
REGION CODE ADDRESS : 6 LONGVIEW DRIVE
01 CITY : BOW
STATE/ZIP : NH 03304
MORTGAGE AMOUNT : 244,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,649.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031737364 MORTGAGORS: TAM STEPHEN
TAM PATRICIA
REGION CODE ADDRESS : 6286 SIERRA SIENA ROAD
01 CITY : IRVINE
STATE/ZIP : CA 92612
MORTGAGE AMOUNT : 355,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 355,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,391.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.53100
----------------------------------------------------------------
0 0031737547 MORTGAGORS: FORTES CESAR
REGION CODE ADDRESS : 9795 LA CIENEGA STREET
01 CITY : LAS VEGAS
STATE/ZIP : NV 89123
MORTGAGE AMOUNT : 292,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,727.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,023.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.99300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,549,300.00
P & I AMT: 10,593.65
UPB AMT: 1,548,884.73
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 172
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031737737 MORTGAGORS: FAVIS ARMANDO
FAVIS TERESA
REGION CODE ADDRESS : 3261 LAC BLEU COURT
01 CITY : SAN JOSE
STATE/ZIP : CA 95148
MORTGAGE AMOUNT : 271,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,134.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,992.17 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031737893 MORTGAGORS: STORMS VERNON
STORMS JEANNETTE
REGION CODE ADDRESS : 241 MYRTLE STREET
01 CITY : HALF MOON BAY
STATE/ZIP : CA 94019
MORTGAGE AMOUNT : 265,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,595.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,830.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 65.43200
----------------------------------------------------------------
0 0031737935 MORTGAGORS: OPDYKE THOMAS
OPDYKE SOPHIE
REGION CODE ADDRESS : 25 SILVER BIRCH DRIVE
01 CITY : NEW ROCHELLE
STATE/ZIP : NY 10801
MORTGAGE AMOUNT : 383,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 382,391.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,679.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031738131 MORTGAGORS: DEANGELO CAESER
REGION CODE ADDRESS : 10568 BRADBURY ROAD
01 CITY : LOS ANGELES
STATE/ZIP : CA 90064
MORTGAGE AMOUNT : 414,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 414,176.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,827.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.08600
----------------------------------------------------------------
0 0031738461 MORTGAGORS: COOK EARL
COOK DIANE
REGION CODE ADDRESS : 1203 BAYLISS DRIVE
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22302
MORTGAGE AMOUNT : 287,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,402.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,867.31 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,622,150.00
P & I AMT: 11,197.13
UPB AMT: 1,619,700.81
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 173
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031738628 MORTGAGORS: MILLER JAMES
MILLER MARILYN
REGION CODE ADDRESS : 4 S. 160 BARKEI LANE
01 CITY : NAPERVILLE
STATE/ZIP : IL 60563
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,792.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,957.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 56.00000
----------------------------------------------------------------
0 0031738743 MORTGAGORS: DAVIS JOSEPH
DAVIS SUSAN
REGION CODE ADDRESS : 3103 CANTER WAY
01 CITY : DULUTH
STATE/ZIP : GA 30097
MORTGAGE AMOUNT : 309,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 308,541.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,056.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 89.98600
----------------------------------------------------------------
0 0031738776 MORTGAGORS: MOYER THOMAS
MOYER SHARON
REGION CODE ADDRESS : 25020 WOODFIELD SCHOOL ROAD
01 CITY : GAITHERSBURG
STATE/ZIP : MD 20882
MORTGAGE AMOUNT : 247,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,143.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,647.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031738859 MORTGAGORS: FARWELL STEVEN
FARWELL CHRISTINE
REGION CODE ADDRESS : 277 ROCHESTER STREET
01 CITY : COSTA MESA
STATE/ZIP : CA 92627
MORTGAGE AMOUNT : 246,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,657.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 65.95100
----------------------------------------------------------------
0 0031739204 MORTGAGORS: FUTTERMAN ALAN
FUTTERMAN STACEY
REGION CODE ADDRESS : 5766 CHANDLER COURT
01 CITY : SAN JOSE
STATE/ZIP : CA 95123
MORTGAGE AMOUNT : 249,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,723.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,332,250.00
P & I AMT: 9,042.49
UPB AMT: 1,331,077.95
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 174
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031739238 MORTGAGORS: RICHARDS DOUG
RICHARDS KELLY
REGION CODE ADDRESS : 13503 PENFIELD POINT
01 CITY : SAN DIEGO
STATE/ZIP : CA 92130
MORTGAGE AMOUNT : 544,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 544,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,573.69 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031739261 MORTGAGORS: GULA ROBERT
GULA SHELLEY
REGION CODE ADDRESS : 18 INWOOD ROAD
01 CITY : MILLBURN
STATE/ZIP : NJ 07078
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,777.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 73.17000
----------------------------------------------------------------
0 0031739501 MORTGAGORS: NOVAK PAUL
NOVAK CAROLINE
REGION CODE ADDRESS : 3262 PARK VISTA DRIVE
01 CITY : GLENDALE
STATE/ZIP : CA 91214
MORTGAGE AMOUNT : 329,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 328,736.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,216.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 77.41100
----------------------------------------------------------------
0 0031739550 MORTGAGORS: MCCORRY DANIEL
MCCORRY ROBIN
REGION CODE ADDRESS : 6511 STONEDALE LANE
01 CITY : CLIFTON
STATE/ZIP : VA 20124
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,784.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,621.50 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031739683 MORTGAGORS: TRIBBETT HEIDI
REGION CODE ADDRESS : 751 PARK DRIVE
01 CITY : ATLANTA
STATE/ZIP : GA 30306
MORTGAGE AMOUNT : 249,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,681.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,672,600.00
P & I AMT: 11,190.98
UPB AMT: 1,671,899.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 175
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031739865 MORTGAGORS: LAWSON MARY
LAWSON TIMOTHY
REGION CODE ADDRESS : 1242 TOWNES ROAD
01 CITY : CHARLOTTE
STATE/ZIP : NC 28209
MORTGAGE AMOUNT : 288,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 288,524.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,969.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031739881 MORTGAGORS: NORRIS DAVID
NORRIS ANNE
REGION CODE ADDRESS : 2405 ALTARIDGE CIRCLE
01 CITY : BIRMINGHAM
STATE/ZIP : AL 35243
MORTGAGE AMOUNT : 301,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,517.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,027.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 70.32700
----------------------------------------------------------------
0 0031739899 MORTGAGORS: ROSEN RALPH
ROSEN MARY
REGION CODE ADDRESS : 42 GROGANS POINT ROAD
01 CITY : WOODLANDS
STATE/ZIP : TX 77380
MORTGAGE AMOUNT : 324,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,146.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,212.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031739907 MORTGAGORS: YOMTOOB ISAAC
YOMTOOB SHOHREH
REGION CODE ADDRESS : 3704 WATER CREST DRIVE
01 CITY : PLANO
STATE/ZIP : TX 75093
MORTGAGE AMOUNT : 335,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 334,738.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,285.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.45600
----------------------------------------------------------------
0 0031739956 MORTGAGORS: KENTON MICHAEL
KENTON CINDY
REGION CODE ADDRESS : 19185 SEVENTH STREET
01 CITY : EAST SONOMA
STATE/ZIP : CA 95476
MORTGAGE AMOUNT : 615,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 615,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,143.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 72.86700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,864,150.00
P & I AMT: 12,639.31
UPB AMT: 1,862,927.53
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 176
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031740327 MORTGAGORS: PISANO CRESCENZO
PISANO STACY
REGION CODE ADDRESS : 707 MIRAMAR DRIVE
01 CITY : FULLERTON
STATE/ZIP : CA 92831
MORTGAGE AMOUNT : 356,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 355,829.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,459.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 77.07700
----------------------------------------------------------------
0 0031740558 MORTGAGORS: HOWLAND DAVID
HOWLAND LORI
REGION CODE ADDRESS : 61295 MOUNTAIN BREEZES COURT
01 CITY : BEND
STATE/ZIP : OR 97702
MORTGAGE AMOUNT : 332,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 332,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,236.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 76.32100
----------------------------------------------------------------
0 0031740749 MORTGAGORS: RATNER CHARLES
REINISCH FLORENCE
REGION CODE ADDRESS : 931 REGAL ROAD
01 CITY : BERKELEY
STATE/ZIP : CA 94708
MORTGAGE AMOUNT : 318,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 318,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,172.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031740988 MORTGAGORS: CLAPP SUSAN
REGION CODE ADDRESS : 3131 ALTA LAGUNA BOULEVARD
01 CITY : LAGUNA BEACH
STATE/ZIP : CA 92651
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 340,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,290.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 58.62000
----------------------------------------------------------------
0 0031741002 MORTGAGORS: FOUHY DAVID
BILLINGS-FOUHY ELIZABETH
REGION CODE ADDRESS : 78 SCHOOL STREET
01 CITY : LEXINGTON
STATE/ZIP : MA 02421
MORTGAGE AMOUNT : 261,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,802.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 94.94300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,607,500.00
P & I AMT: 10,961.60
UPB AMT: 1,607,229.03
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 177
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031741127 MORTGAGORS: HANSEN LESLIE
HANSEN SUSAN
REGION CODE ADDRESS : 2895 HAY LOFT WAY
01 CITY : MORGAN HILL
STATE/ZIP : CA 95037
MORTGAGE AMOUNT : 388,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 387,689.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,614.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031741515 MORTGAGORS: CHAN JULIO
CHAN MARIA
REGION CODE ADDRESS : 1715 MISSION STREET
01 CITY : SOUTH PASADENA
STATE/ZIP : CA 91030
MORTGAGE AMOUNT : 236,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,670.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 76.62300
----------------------------------------------------------------
0 0031741572 MORTGAGORS: HERNANDEZ ALBERT
HERNANDEZ RAE
REGION CODE ADDRESS : 6 MARIPOSA
01 CITY : DOVE CANYON
STATE/ZIP : CA 92679
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,789.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,985.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.88800
----------------------------------------------------------------
0 0031741598 MORTGAGORS: CRANE SOHEILA
CRANE JOHN
REGION CODE ADDRESS : 1833 PENINSULA PLACE
01 CITY : COSTA MESA
STATE/ZIP : CA 92627
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,821.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,678.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031741606 MORTGAGORS: MAC DOUGALL MICHAEL
MAC DOUGALL GRETCHEN
REGION CODE ADDRESS : 132 MATHESON DRIVE
01 CITY : MARLBORO
STATE/ZIP : MA 01752
MORTGAGE AMOUNT : 297,825.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,592.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,031.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,445,825.00
P & I AMT: 9,980.02
UPB AMT: 1,444,893.49
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 178
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031741630 MORTGAGORS: ALBERTSON JAMES
ALBERTSON MANYA
REGION CODE ADDRESS : 69 BLACKBURN ROAD
01 CITY : SUMMIT
STATE/ZIP : NJ 07901
MORTGAGE AMOUNT : 417,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 415,471.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,951.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 04/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 69.50000
----------------------------------------------------------------
0 0031741747 MORTGAGORS: FOX KENNETH
REGION CODE ADDRESS : 2845 EAST FEATHERHILL DRIVE
01 CITY : ORANGE
STATE/ZIP : CA 92867
MORTGAGE AMOUNT : 287,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,572.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,006.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0031741788 MORTGAGORS: LA MARCA ANDREW
LA MARCA MARSHA
REGION CODE ADDRESS : 125 STAGECOACH RD.
01 CITY : BELL CANYON AREA
STATE/ZIP : CA 91307
MORTGAGE AMOUNT : 588,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 588,302.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,066.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031741820 MORTGAGORS: MIKSAK ANTHONY
BARTLETT JOSELYN
REGION CODE ADDRESS : 44002 FERN CREEK ROAD
01 CITY : CASPAR
STATE/ZIP : CA 95420
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,920.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,896.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 04/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031741952 MORTGAGORS: ELLIOTT THOMAS
ELLIOTT CHERYL
REGION CODE ADDRESS : 3151 W VAWTER SCHOOL ROAD
01 CITY : COLUMBIA
STATE/ZIP : MO 65203
MORTGAGE AMOUNT : 346,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 346,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,393.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,907,250.00
P & I AMT: 13,314.68
UPB AMT: 1,903,766.79
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 179
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031742059 MORTGAGORS: NICKOLSON JON
NICKOLSON DIANE
REGION CODE ADDRESS : 2524 HEATHERMOOR ROAD
01 CITY : BIRMINGHAM
STATE/ZIP : AL 35223
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,618.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,664.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031742109 MORTGAGORS: KOLLMER CHIRSTOPHER
KOLLMER THERESA
REGION CODE ADDRESS : 160 STANLEY DR.
01 CITY : GLASTONBURY
STATE/ZIP : CT 06033
MORTGAGE AMOUNT : 238,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,997.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,566.78 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031742117 MORTGAGORS: FINN MICHAEL
FINN ELLEN
REGION CODE ADDRESS : 8737 RIDGE ROAD
01 CITY : BETHESDA
STATE/ZIP : MD 20817
MORTGAGE AMOUNT : 399,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 398,856.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,589.20 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031742265 MORTGAGORS: SAAD CARLOS
REGION CODE ADDRESS : 17051-A 6TH STREET
01 CITY : SUNSET BEACH AREA
STATE/ZIP : CA 90742
MORTGAGE AMOUNT : 449,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 449,557.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,107.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.98000
----------------------------------------------------------------
0 0031742406 MORTGAGORS: CAIRNS GLENN
CAIRNS GILLIAN
REGION CODE ADDRESS : 7111 BIRDVIEW AVENUE
01 CITY : MALIBU
STATE/ZIP : CA 90265
MORTGAGE AMOUNT : 283,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,933.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 10.50000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,615,100.00
P & I AMT: 10,861.81
UPB AMT: 1,613,529.67
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 180
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031742414 MORTGAGORS: LATHAM PATRICK
LATHAM MICHELLE
REGION CODE ADDRESS : 1753 MEANDER DRIVE
01 CITY : SIMI VALLEY
STATE/ZIP : CA 93065
MORTGAGE AMOUNT : 282,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,295.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,999.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 89.68200
----------------------------------------------------------------
0 0031742422 MORTGAGORS: MACAT JULIO
PERKINS ELIZABETH
REGION CODE ADDRESS : 135 SOUTH WILTON DRIVE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90004
MORTGAGE AMOUNT : 467,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 466,826.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,147.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031742539 MORTGAGORS: VON KLAN GEORGE
REGION CODE ADDRESS : 11 LYNN DRIVE
01 CITY : NAPA
STATE/ZIP : CA 94558
MORTGAGE AMOUNT : 275,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,926.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031742745 MORTGAGORS: GRANICH MARK
GRANICH PATRICIA
REGION CODE ADDRESS : 2699 OYLMPIA DRIVE
01 CITY : CARLSBAD
STATE/ZIP : CA 92008
MORTGAGE AMOUNT : 234,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,616.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.86300
----------------------------------------------------------------
0 0031742836 MORTGAGORS: CALDERON DENNIS
CALDERON MARLENE
REGION CODE ADDRESS : 12778 VIA TERCETO
01 CITY : SAN DIEGO
STATE/ZIP : CA 92130
MORTGAGE AMOUNT : 232,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 232,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,627.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 93.47300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,491,950.00
P & I AMT: 10,317.08
UPB AMT: 1,491,371.91
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 181
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031742992 MORTGAGORS: CHAMBERS LARRY
JOHNSON KAREN
REGION CODE ADDRESS : 1118 NORTH SIGNAL STREET
01 CITY : OJAI
STATE/ZIP : CA 93023
MORTGAGE AMOUNT : 348,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 348,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,373.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031743214 MORTGAGORS: CAREY DIANE
REGION CODE ADDRESS : 170 WESTPORT #98
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92660
MORTGAGE AMOUNT : 286,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,776.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,951.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.44400
----------------------------------------------------------------
0 0031743271 MORTGAGORS: BASTIAENS GASTON
REGION CODE ADDRESS : 28 MCCALL ROAD
01 CITY : WINCHESTER
STATE/ZIP : MA 01890
MORTGAGE AMOUNT : 636,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 636,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,178.07 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031743453 MORTGAGORS: RODRIGUEZ VICTOR
RODRIGUEZ STELLA
REGION CODE ADDRESS : 3230 KNIGHTSWOOD WAY
01 CITY : SAN JOSE
STATE/ZIP : CA 95148
MORTGAGE AMOUNT : 259,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,797.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,766.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 57.55500
----------------------------------------------------------------
0 0031743461 MORTGAGORS: ROLLINS RAYMOND
ROLLINS CHRISTINE
REGION CODE ADDRESS : 9101 WHITE CHIMNEY LANE
01 CITY : GREAT FALLS
STATE/ZIP : VA 22066
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,516.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,816.07 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 60.21500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,809,000.00
P & I AMT: 12,085.99
UPB AMT: 1,808,091.34
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 182
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031743503 MORTGAGORS: PICK LEONARD
PICK PATRICIA
REGION CODE ADDRESS : 1017 TURKEY RUN
01 CITY : MCLEAN
STATE/ZIP : VA 22101
MORTGAGE AMOUNT : 373,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 371,527.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,544.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 04/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 51.80500
----------------------------------------------------------------
0 0031744022 MORTGAGORS: DONAHUE RICHARD
DONAHUE DEBRA
REGION CODE ADDRESS : 68 COMMONWEALTH AVE UNIT 3,
01 CITY : BOSTON
STATE/ZIP : MA 02116
MORTGAGE AMOUNT : 470,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 470,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,286.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 50.00000
----------------------------------------------------------------
0 0031744089 MORTGAGORS: BUKOSKY BRIAN
BUKOSKY DEBORAH
REGION CODE ADDRESS : 4 ELKADER
01 CITY : DOVE CANYON AREA
STATE/ZIP : CA 92679
MORTGAGE AMOUNT : 464,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 464,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,204.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031744204 MORTGAGORS: CORTES VICTOR
CORTES ROCHELE
REGION CODE ADDRESS : 4826 EAST STETSON LANE
01 CITY : ORANGE
STATE/ZIP : CA 92869
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,687.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,728.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 88.23200
----------------------------------------------------------------
0 0031744451 MORTGAGORS: KENEWELL LYDIA
JACOBS DEBORAH
REGION CODE ADDRESS : 356 LAGUNA TERRACE
01 CITY : SIMI VALLEY
STATE/ZIP : CA 93065
MORTGAGE AMOUNT : 488,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 488,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,329.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,195,000.00
P & I AMT: 15,093.29
UPB AMT: 2,193,215.39
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 183
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031744964 MORTGAGORS: LUECKER GARY
LUECKER ANGELA
REGION CODE ADDRESS : 11637 CYPRESS CANYON ROAD
01 CITY : SAN DIEGO
STATE/ZIP : CA 92131
MORTGAGE AMOUNT : 338,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 338,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,279.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0031745060 MORTGAGORS: CHINEN GERALD
AZADA MARY
REGION CODE ADDRESS : 25531 CONLEY DOWNS DRIVE
01 CITY : CASTRO VALLEY
STATE/ZIP : CA 94552
MORTGAGE AMOUNT : 247,115.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,115.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,644.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 89.99900
----------------------------------------------------------------
0 0031745565 MORTGAGORS: KUNTZ PHILIP
GARDNER MARIANNE
REGION CODE ADDRESS : 2709 S. JOYCE STREET
01 CITY : ARLINGTON
STATE/ZIP : VA 22202
MORTGAGE AMOUNT : 315,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 315,653.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,154.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
0 0031745599 MORTGAGORS: WILLISSON EDWARD
WILLISSON LAURIE
REGION CODE ADDRESS : 139 OLD MILL ROAD
01 CITY : FAIRHOPE
STATE/ZIP : AL 36532
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,796.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,717.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.02200
----------------------------------------------------------------
0 0031745680 MORTGAGORS: WAGENER MARK
WAGENER KAREN
REGION CODE ADDRESS : 8965 COVEY COURT
01 CITY : ELK GROVE
STATE/ZIP : CA 95624
MORTGAGE AMOUNT : 248,720.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,521.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,675.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.72600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,405,035.00
P & I AMT: 9,471.91
UPB AMT: 1,404,385.75
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 184
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031745938 MORTGAGORS: MATHEU VICTOR
MATHEU JANE
REGION CODE ADDRESS : 259 JETER STREET
01 CITY : REDWOOD CITY
STATE/ZIP : CA 94062
MORTGAGE AMOUNT : 332,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 332,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,270.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031746167 MORTGAGORS: NUNN PATRICIA
REGION CODE ADDRESS : 605 18TH STREET
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92648
MORTGAGE AMOUNT : 279,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,550.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,907.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 76.69400
----------------------------------------------------------------
0 0031746787 MORTGAGORS: LEA JOHN
LEA BECKY
REGION CODE ADDRESS : 42 DITZHAZY COURT
01 CITY : ROSEVILLE
STATE/ZIP : CA 95678
MORTGAGE AMOUNT : 239,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,322.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,674.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 94.99700
----------------------------------------------------------------
0 0031746894 MORTGAGORS: GRABENSTEIN ALAN
GRABENSTEIN JUDITH
REGION CODE ADDRESS : 148 ALTA VISTA WAY
01 CITY : DANVILLE
STATE/ZIP : CA 94506
MORTGAGE AMOUNT : 405,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 405,391.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,802.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 68.18487
----------------------------------------------------------------
0 0031747041 MORTGAGORS: THOMAS STEVE
REGION CODE ADDRESS : 249 MESA DRIVE
01 CITY : CARAMARILLO
STATE/ZIP : CA 93010
MORTGAGE AMOUNT : 238,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,407.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,705.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.86500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,495,550.00
P & I AMT: 10,359.05
UPB AMT: 1,494,470.57
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 185
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031747165 MORTGAGORS: PENG SIDNEY
PENG BEVERLY
REGION CODE ADDRESS : 13709 SAFE HARBOR COURT
01 CITY : ROCKVILLE
STATE/ZIP : MD 20850
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,112.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,299.26 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 69.00400
----------------------------------------------------------------
0 0031747199 MORTGAGORS: WALLSHEIN WAYNE
WALLSHEIN CORINNE
REGION CODE ADDRESS : 6291 COLUMBUS HALL COURT
01 CITY : MCLEAN
STATE/ZIP : VA 22101
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,438.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,358.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 55.45700
----------------------------------------------------------------
0 0031747363 MORTGAGORS: GREENLEAF KRISTIE
REGION CODE ADDRESS : 341 AVENUE E
01 CITY : REDONDO BEACH
STATE/ZIP : CA 90277
MORTGAGE AMOUNT : 405,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 405,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,831.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031747470 MORTGAGORS: ZDY FRANK
ZDY LYNDA
REGION CODE ADDRESS : 3943 TAMBOR ROAD
01 CITY : SAN DIEGO
STATE/ZIP : CA 92124
MORTGAGE AMOUNT : 255,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,945.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,830.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 88.10300
----------------------------------------------------------------
0 0031747546 MORTGAGORS: COPLIN SHERWIN
COPLIN CHERYL
REGION CODE ADDRESS : 8 SKYTOP DRIVE
01 CITY : NORWALK
STATE/ZIP : CT 06855
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,596.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,041.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 61.29000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,645,500.00
P & I AMT: 11,361.30
UPB AMT: 1,643,092.78
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 186
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031747629 MORTGAGORS: NUNEZ CIRILO
NUNEZ PERLITA
REGION CODE ADDRESS : 1 DEAUVILLE
01 CITY : IRVINE
STATE/ZIP : CA 92606
MORTGAGE AMOUNT : 332,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,505.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,321.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031747637 MORTGAGORS: STERNECK ROGER
STERNECK JERI
REGION CODE ADDRESS : 2949 WINDING LANE
01 CITY : WESTLAKE VILLAGE
STATE/ZIP : CA 91361
MORTGAGE AMOUNT : 258,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,662.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,832.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 94.99000
----------------------------------------------------------------
0 0031747694 MORTGAGORS: MCCARTHY TODD
MCCARTHY LISE
REGION CODE ADDRESS : 1922 ROSSWOOD DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95124
MORTGAGE AMOUNT : 286,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,192.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,027.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031747884 MORTGAGORS: BLAIR MARC
BLAIR DEBORAH
REGION CODE ADDRESS : 418 AVENUE E
01 CITY : REDONDO BEACH
STATE/ZIP : CA 90277
MORTGAGE AMOUNT : 364,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 364,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,483.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031747934 MORTGAGORS: O'ROURKE JOHN
O'ROURKE MICHELLE
REGION CODE ADDRESS : 544 WEST MUNCIE AVENUE
01 CITY : CLOVIS
STATE/ZIP : CA 93611
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,763.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,916.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,529,250.00
P & I AMT: 10,579.83
UPB AMT: 1,528,124.97
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 187
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031748395 MORTGAGORS: LARSON KARL
LARSON WENDY
REGION CODE ADDRESS : 5547 SUNNY OAKS DR.
01 CITY : SAN JOSE
STATE/ZIP : CA 95123
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,751.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031748429 MORTGAGORS: SCANLON KEVIN
SCANLON KATHERINE
REGION CODE ADDRESS : 3005 LEGER COURT
01 CITY : PLEASANTON
STATE/ZIP : CA 94588
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,021.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031748544 MORTGAGORS: GIOVANISCI STEPHEN
GIOVANISCI CATHERINE
REGION CODE ADDRESS : 6310 KITTY'S LANE
01 CITY : LOS ANGELES
STATE/ZIP : CA 91042
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,538.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,873.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031748551 MORTGAGORS: SWEIDAN MALIK
REGION CODE ADDRESS : 5909 SOUTHRIDGE COURT
01 CITY : SAN JOSE
STATE/ZIP : CA 95138
MORTGAGE AMOUNT : 255,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,838.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,828.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 82.32258
----------------------------------------------------------------
0 0031748593 MORTGAGORS: LOUDON WILLIAM
PAYNE MARIANNE
REGION CODE ADDRESS : 97 HILLCREST DRIVE
01 CITY : ORINDA
STATE/ZIP : CA 94563
MORTGAGE AMOUNT : 282,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,790.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,971.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,365,200.00
P & I AMT: 9,446.80
UPB AMT: 1,364,168.31
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 188
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031748676 MORTGAGORS: CORREIA JOHN
CORREIA CHRISTINE
REGION CODE ADDRESS : 12440 CURRY COURT
01 CITY : SARATOGA
STATE/ZIP : CA 95070
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,782.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,123.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 42.85700
----------------------------------------------------------------
0 0031748692 MORTGAGORS: CUMMING NEVILLE
CUMMING LOIS
REGION CODE ADDRESS : 1978 MARGOT PLACE
01 CITY : SAN JOSE
STATE/ZIP : CA 95125
MORTGAGE AMOUNT : 368,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 368,676.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,579.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 89.98700
----------------------------------------------------------------
0 0031748718 MORTGAGORS: KEIF ANDREW
REGION CODE ADDRESS : 302 EAST 16TH STREET #E
01 CITY : COSTA MESA
STATE/ZIP : CA 92626
MORTGAGE AMOUNT : 231,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 231,028.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,616.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031749013 MORTGAGORS: MYER PAUL
MYER ANN
REGION CODE ADDRESS : 25702 LA CIMA
01 CITY : LAGUNA NIGUEL
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 283,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,930.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.56400
----------------------------------------------------------------
0 0031749161 MORTGAGORS: HARDIN JAMES
HARDIN LINDA
REGION CODE ADDRESS : 13202 KILBY LANDING COURT
01 CITY : CLIFTON
STATE/ZIP : VA 22024
MORTGAGE AMOUNT : 372,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 371,867.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,540.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,555,600.00
P & I AMT: 10,791.04
UPB AMT: 1,554,354.62
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 189
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031749310 MORTGAGORS: SANTOS RAYMOND
SANTOS REMEDIOS
REGION CODE ADDRESS : 12471 BROWNING AVENUE
01 CITY : SANTA ANA
STATE/ZIP : CA 92705
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,782.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,123.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 66.66600
----------------------------------------------------------------
0 0031749377 MORTGAGORS: GOLL TIMOTHY
GOLL MARY
REGION CODE ADDRESS : 200 FORESAIL COURT
01 CITY : FOSTER CITY
STATE/ZIP : CA 94404
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 360,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,486.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 67.28900
----------------------------------------------------------------
0 0031749419 MORTGAGORS: OAKS HAROLD
OAKS LINDA
REGION CODE ADDRESS : 908 EADINGTON DRIVE
01 CITY : BREA
STATE/ZIP : CA 92821
MORTGAGE AMOUNT : 231,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 231,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,596.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031749609 MORTGAGORS: MENGO MARC
MENGO TERRIE
REGION CODE ADDRESS : 243 VISTA BELLA DR.
01 CITY : SANTA CRUZ
STATE/ZIP : CA 95060
MORTGAGE AMOUNT : 302,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 302,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,060.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.56700
----------------------------------------------------------------
0 0031749641 MORTGAGORS: HOTTEL DOUGLAS
HOTTEL LINDA
REGION CODE ADDRESS : 378 WILLOW ROAD
01 CITY : GUILFORD
STATE/ZIP : CT 06437
MORTGAGE AMOUNT : 279,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,856.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,472,200.00
P & I AMT: 10,123.05
UPB AMT: 1,471,982.86
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 190
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031750128 MORTGAGORS: FRYE STUART
FRYE MEREDITH
REGION CODE ADDRESS : 1806 BUTTONSHELL LANE
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92660
MORTGAGE AMOUNT : 417,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 417,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,880.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031750367 MORTGAGORS: HICKS STORMY
HICKS ELIZABETH
REGION CODE ADDRESS : 498 DUNSTON
01 CITY : BLOOMFIELD HILLS
STATE/ZIP : MI 48304
MORTGAGE AMOUNT : 413,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 412,415.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,958.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 68.83300
----------------------------------------------------------------
0 0031750409 MORTGAGORS: HENDERSON BARTON
HENDERSON JANE
REGION CODE ADDRESS : 48 PRENTISS LANE
01 CITY : BELMONT
STATE/ZIP : MA 02178
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,103.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,796.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 55.17200
----------------------------------------------------------------
0 0031750425 MORTGAGORS: PALACIOS ROBERT
PALACIOS LISA
REGION CODE ADDRESS : 26 W 120 PHEASANT COURT
01 CITY : WHEATON
STATE/ZIP : IL 60188
MORTGAGE AMOUNT : 268,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,894.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,878.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
0 0031750466 MORTGAGORS: BEATTY JEFFREY
BEATTY NANCY
REGION CODE ADDRESS : 1540 EAST NIGHTHAWK WAY
01 CITY : PHOENIX
STATE/ZIP : AZ 85048
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,588.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,789.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.75000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,754,700.00
P & I AMT: 12,304.55
UPB AMT: 1,750,002.52
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 191
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031750474 MORTGAGORS: PAPESH MARK
PAPESH JILL
REGION CODE ADDRESS : 2414 CIMARRON COURT
01 CITY : NAPERVILLE
STATE/ZIP : IL 60565
MORTGAGE AMOUNT : 270,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,378.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,913.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031750490 MORTGAGORS: HURST GREGORY
HURST DONNA
REGION CODE ADDRESS : 63 MAIN STREET
01 CITY : WESTFORD
STATE/ZIP : MA 01886
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,065.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,804.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 04/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 57.96700
----------------------------------------------------------------
0 0031750516 MORTGAGORS: SMITH RICHARD
REGION CODE ADDRESS : 10669 N 75TH PLACE
01 CITY : SCOTTSDALE
STATE/ZIP : AZ 85260
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,553.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 72.28900
----------------------------------------------------------------
0 0031750524 MORTGAGORS: FIGLIA ANNE
REGION CODE ADDRESS : 411 CASA DEL MAR DRIVE
01 CITY : HALF MOON BAY
STATE/ZIP : CA 94019
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,044.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031750557 MORTGAGORS: JAROCH GREGORY
CHRISTIE JAROCH KATHLEEN
REGION CODE ADDRESS : 1461 MINARD LANE
01 CITY : GREEN OAKS
STATE/ZIP : IL 60048
MORTGAGE AMOUNT : 482,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 481,417.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,453.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 73.60300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,603,500.00
P & I AMT: 11,314.61
UPB AMT: 1,600,414.94
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 192
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031750573 MORTGAGORS: DALE GREG
DALE JOANNA
REGION CODE ADDRESS : 7832 N KANSAS AVE
01 CITY : KANSAS CITY
STATE/ZIP : MO 64119
MORTGAGE AMOUNT : 259,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,223.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,810.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.00000
----------------------------------------------------------------
0 0031750581 MORTGAGORS: LEBLANC PAUL
LEBLANC ELIZABETH
REGION CODE ADDRESS : 10 PRESTON ROAD
01 CITY : LEXINGTON
STATE/ZIP : MA 02173
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,366.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,052.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 72.31900
----------------------------------------------------------------
0 0031750599 MORTGAGORS: DOYLE HELEN
REGION CODE ADDRESS : 5 CHANNING CIRCLE
01 CITY : CAMBRIDGE
STATE/ZIP : MA 02138
MORTGAGE AMOUNT : 572,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 570,750.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,048.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 61.17600
----------------------------------------------------------------
0 0031750607 MORTGAGORS: HILLER DAVID
HILLER ROCHELLE
REGION CODE ADDRESS : 8101 EAST DARTMOUTH AVENUE #65
01 CITY : DENVER
STATE/ZIP : CO 80231
MORTGAGE AMOUNT : 285,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,644.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,996.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.13100
----------------------------------------------------------------
0 0031750656 MORTGAGORS: COOKE DENNIS
COOKE FRANCES
REGION CODE ADDRESS : 11 HASTINGS ROAD
01 CITY : LEXINGTON
STATE/ZIP : MA 02173
MORTGAGE AMOUNT : 347,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 345,738.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,456.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 69.40000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,753,500.00
P & I AMT: 12,364.46
UPB AMT: 1,748,723.36
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 193
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031750680 MORTGAGORS: FOLKERTS KIRK
FOLKERTS MANDY
REGION CODE ADDRESS : 13103 SPRINGMINT COURT
01 CITY : CYPRESS
STATE/ZIP : TX 77429
MORTGAGE AMOUNT : 344,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 343,724.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,317.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031750698 MORTGAGORS: SIESFELD GERALD
THOMAS ANNE
REGION CODE ADDRESS : 70 NORTH STREET
01 CITY : LEXINGTON
STATE/ZIP : MA 02173
MORTGAGE AMOUNT : 368,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 367,405.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,573.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.87600
----------------------------------------------------------------
0 0031750706 MORTGAGORS: KALECKAS RICHARD
PUTNAM-KALECKAS ANN
REGION CODE ADDRESS : 1207 WILLOWGATE
01 CITY : ST CHARLES
STATE/ZIP : IL 60174
MORTGAGE AMOUNT : 324,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 323,759.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,265.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.34800
----------------------------------------------------------------
0 0031750714 MORTGAGORS: CARTER JEFFREY
CARTER SHARON
REGION CODE ADDRESS : 18 NORTH MILL STREET
01 CITY : HOPKINTON
STATE/ZIP : MA 01748
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,642.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,678.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031750722 MORTGAGORS: THOMPSON WILLIAM
THOMPSON TERESA
REGION CODE ADDRESS : RT 1 BOX 198
01 CITY : ATKINSON
STATE/ZIP : NE 68713
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,280.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,678.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,516,000.00
P & I AMT: 10,512.38
UPB AMT: 1,513,813.36
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 194
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031750771 MORTGAGORS: CAMERON GORDON
CAMERON CATHIE
REGION CODE ADDRESS : 261 EAST VINEDO LANE
01 CITY : TEMPE
STATE/ZIP : AZ 85284
MORTGAGE AMOUNT : 277,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,094.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,938.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.99800
----------------------------------------------------------------
0 0031750789 MORTGAGORS: RULA J
RULA HEIDI
REGION CODE ADDRESS : 3622 EAST KACHINA DRIVE
01 CITY : PHOENIX
STATE/ZIP : AZ 85044
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,404.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,796.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 68.37600
----------------------------------------------------------------
0 0031750805 MORTGAGORS: HODGE PATRICK
SACKETT-HODGE LYNN
REGION CODE ADDRESS : 45466 FOUNTAIN VIEW DRIVE
01 CITY : CANTON
STATE/ZIP : MI 48188
MORTGAGE AMOUNT : 237,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,513.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,703.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.99600
----------------------------------------------------------------
0 0031750821 MORTGAGORS: FOSTER GREG
FOSTER MARGARET
REGION CODE ADDRESS : 10125 QUARRY HILL PL
01 CITY : PARKER
STATE/ZIP : CO 80134
MORTGAGE AMOUNT : 266,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,202.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,859.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 73.88800
----------------------------------------------------------------
0 0031750847 MORTGAGORS: RADER JAMES
REGION CODE ADDRESS : 1615 WEST SILVERHEELS DRIVE
01 CITY : LARKSPUR
STATE/ZIP : CO 80118
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,612.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,817.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 68.42100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,441,150.00
P & I AMT: 10,117.65
UPB AMT: 1,438,827.59
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 195
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031750854 MORTGAGORS: FUHR ANDREW
FUHR KELLY
REGION CODE ADDRESS : 619 N SPRING ST
01 CITY : LAGRANGE PARK
STATE/ZIP : IL 60526
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,350.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,027.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 87.87800
----------------------------------------------------------------
0 0031750920 MORTGAGORS: XIAO DAVID
REGION CODE ADDRESS : 328 E.COLORADO STREET
01 CITY : ARCADIA
STATE/ZIP : CA 91006
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,788.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,149.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 78.53400
----------------------------------------------------------------
0 0031750961 MORTGAGORS: MILES RODNEY
MILES DAWN
REGION CODE ADDRESS : 2108 BANBURY LN
01 CITY : OKLAHOMA CITY
STATE/ZIP : OK 73170
MORTGAGE AMOUNT : 290,227.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,576.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,029.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 70.78700
----------------------------------------------------------------
0 0031751001 MORTGAGORS: SHVEDOFF VLADIMIR
REGION CODE ADDRESS : 1233 WEYBURN LANE
01 CITY : SAN JOSE
STATE/ZIP : CA 95129
MORTGAGE AMOUNT : 440,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 439,648.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,964.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031751050 MORTGAGORS: PENROSE MICHAEL
PENROSE CAROLYN
REGION CODE ADDRESS : 1070 PESCADOR DRIVE
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92660
MORTGAGE AMOUNT : 440,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 439,673.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,076.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 64.89600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,760,227.00
P & I AMT: 12,247.19
UPB AMT: 1,758,036.92
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 196
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031751092 MORTGAGORS: ASHRAF BULAND
ASHRAF ZEBA
REGION CODE ADDRESS : 9 STEEPLE CHASE DRIVE
01 CITY : CARMEL
STATE/ZIP : IN 46032
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 348,951.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,447.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.54500
----------------------------------------------------------------
0 0031751100 MORTGAGORS: BROWN-MOORE SHELLIE
MOORE SIMON
REGION CODE ADDRESS : 28541 SUNUP CIRCLE
01 CITY : ELIZABETH
STATE/ZIP : CO 80107
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,196.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,013.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031751142 MORTGAGORS: DELANEY WARD
DELANEY BETSY
REGION CODE ADDRESS : 574 SOUTH ONTARIO STREET
01 CITY : VERNON HILLS
STATE/ZIP : IL 60061
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,575.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,992.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 77.67400
----------------------------------------------------------------
0 0031751191 MORTGAGORS: WORTMANN JOHN
WORTMANN ANNE
REGION CODE ADDRESS : 104 VIA YELLA
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92663
MORTGAGE AMOUNT : 565,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 564,525.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,711.65 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 61.08100
----------------------------------------------------------------
0 0031751209 MORTGAGORS: PEACOCK JOEL
LEFEVRE LESLEY
REGION CODE ADDRESS : 7773 SOUTH ELM COURT
01 CITY : LITTLETON
STATE/ZIP : CO 80122
MORTGAGE AMOUNT : 263,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,308.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,845.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,751,900.00
P & I AMT: 12,010.63
UPB AMT: 1,748,557.82
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 197
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031751233 MORTGAGORS: MACABALITAW RUBEN
MACABALITAW HENEDINA
REGION CODE ADDRESS : 1546 SPYGLASS CIRCLE
01 CITY : CHESTERTON
STATE/ZIP : IN 46304
MORTGAGE AMOUNT : 372,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 371,446.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,601.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 72.94100
----------------------------------------------------------------
0 0031751241 MORTGAGORS: BRICKMAN MICHAEL
BRICKMAN BARBARA
REGION CODE ADDRESS : 130 RIVER OAKS LANE
01 CITY : BASALT
STATE/ZIP : CO 81621
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,255.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,496.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 71.42800
----------------------------------------------------------------
0 0031751274 MORTGAGORS: HYMAN EARLE
HYMAN GAIL
REGION CODE ADDRESS : 22305 DUNMORE DRIVE
01 CITY : CALABASAS
STATE/ZIP : CA 91302
MORTGAGE AMOUNT : 527,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 526,808.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,686.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031751324 MORTGAGORS: CHAVEZ ROGER
HULST CARMEN
REGION CODE ADDRESS : 38 SANDIA MOUNTAIN RANCH DRIVE
01 CITY : TIJERAS
STATE/ZIP : NM 87059
MORTGAGE AMOUNT : 265,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,355.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,853.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.44600
----------------------------------------------------------------
0 0031751340 MORTGAGORS: MAJOR MARK
MAJOR LINDA
REGION CODE ADDRESS : 1641 KIMBERLY WOODS
01 CITY : EL CAJON
STATE/ZIP : CA 92020
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,773.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,773.71 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 72.97200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,934,350.00
P & I AMT: 13,411.09
UPB AMT: 1,931,639.02
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 198
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031751357 MORTGAGORS: PRICE MARK
PRICE VALLI
REGION CODE ADDRESS : 1145 TWIN PEAKS CIRCLE
01 CITY : LONGMONT
STATE/ZIP : CO 80503
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,635.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,713.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 64.72900
----------------------------------------------------------------
0 0031751365 MORTGAGORS: GWIN THOMAS
GWIN AGNES
REGION CODE ADDRESS : 3711 NORTH HERMOSA PLACE
01 CITY : FULLERTON
STATE/ZIP : CA 92835
MORTGAGE AMOUNT : 415,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 414,651.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,726.26 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 59.28500
----------------------------------------------------------------
0 0031751506 MORTGAGORS: SEYMOUR PATRICK
SEYMOUR TRUDY
REGION CODE ADDRESS : 23530 SUMMIT DRIVE
01 CITY : CALABASAS
STATE/ZIP : CA 91302
MORTGAGE AMOUNT : 246,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,212.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,701.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031751688 MORTGAGORS: GAARN PETER
PORT-GAARN NANCY
REGION CODE ADDRESS : 4379 NICKER COURT
01 CITY : SOQUEL
STATE/ZIP : CA 95073
MORTGAGE AMOUNT : 440,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 439,648.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,964.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 59.86300
----------------------------------------------------------------
0 0031751829 MORTGAGORS: HARLAND JOHN
HARLAND CYNTHIA
REGION CODE ADDRESS : 2705 FAIRBROOK DRIVE
01 CITY : MOUNTAIN VIEW
STATE/ZIP : CA 94040
MORTGAGE AMOUNT : 430,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 429,638.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,824.80 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 55.98900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,776,400.00
P & I AMT: 11,930.33
UPB AMT: 1,774,785.92
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 199
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031751845 MORTGAGORS: SLATER RONALD
REGION CODE ADDRESS : 6640 KENTWOOD BLUFFS DRIVE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90045
MORTGAGE AMOUNT : 496,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 496,402.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,347.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031752066 MORTGAGORS: SMITH DONALD
SMITH JANET
REGION CODE ADDRESS : 19 SHANA LANE
01 CITY : GLENWOOD SPRINGS
STATE/ZIP : CO 81601
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,593.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,773.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031752074 MORTGAGORS: BUDIL KIMBERLY
SLONE DALE
REGION CODE ADDRESS : 525 ALDEN LANE
01 CITY : LIVERMORE
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 435,565.00 OPTION TO CONVERT :
UNPAID BALANCE : 435,225.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,971.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99900
----------------------------------------------------------------
0 0031752082 MORTGAGORS: IGLINSKI MICHAEL
IGLINSKI PEGGY
REGION CODE ADDRESS : 9617 CAMDEN HILLS AVENUE
01 CITY : LAS VEGAS
STATE/ZIP : NV 89128
MORTGAGE AMOUNT : 352,636.00 OPTION TO CONVERT :
UNPAID BALANCE : 352,354.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,375.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.80000
----------------------------------------------------------------
0 0031752322 MORTGAGORS: MEADE RICHARD
MEADE KAREN
REGION CODE ADDRESS : 1131 SOUTH VERDUGA ROAD
01 CITY : TURLOCK
STATE/ZIP : CA 95380
MORTGAGE AMOUNT : 320,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 320,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,161.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,865,801.00
P & I AMT: 12,629.10
UPB AMT: 1,864,375.04
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 200
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031752546 MORTGAGORS: SADOWSKY STEPHEN
STRATTON MARIA
REGION CODE ADDRESS : 3700 LOWRY ROAD
01 CITY : LOS ANGELES
STATE/ZIP : CA 90027
MORTGAGE AMOUNT : 565,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 564,559.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,854.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 70.62500
----------------------------------------------------------------
0 0031752553 MORTGAGORS: NICKERSON NANCY
BARSOCCHINI PETER
REGION CODE ADDRESS : 4322 PONCA AVENUE
01 CITY : TOLUCA LAKE
STATE/ZIP : CA 91602
MORTGAGE AMOUNT : 540,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 539,578.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,683.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 60.00000
----------------------------------------------------------------
0 0031752850 MORTGAGORS: NGUYEN HIEU
LE SUSAN
REGION CODE ADDRESS : 2192 ROSE ARBOR COURT
01 CITY : SAN JOSE
STATE/ZIP : CA 95133
MORTGAGE AMOUNT : 321,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 320,773.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,299.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 89.88000
----------------------------------------------------------------
0 0031752868 MORTGAGORS: BOGARD DARYL
REGION CODE ADDRESS : 19 BLESSING
01 CITY : IRVINE
STATE/ZIP : CA 92612
MORTGAGE AMOUNT : 472,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 471,640.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,259.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 69.00500
----------------------------------------------------------------
0 0031752975 MORTGAGORS: STANSBURY JON
STANSBURY SUSAN
REGION CODE ADDRESS : 122 LIBERTY STREET
01 CITY : SANTA CRUZ
STATE/ZIP : CA 95060
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,705.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 76.92300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,148,000.00
P & I AMT: 14,803.17
UPB AMT: 2,146,552.27
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 201
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031753023 MORTGAGORS: CATO MICHAEL
REGION CODE ADDRESS : 3891 GLENHURST DRIVE
01 CITY : SMYRNA
STATE/ZIP : GA 30080
MORTGAGE AMOUNT : 330,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 328,992.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,279.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 68.04100
----------------------------------------------------------------
0 0031753049 MORTGAGORS: RITSICK JOHN
REGION CODE ADDRESS : 444 LANGLEY OAKS DRIVE
01 CITY : MARIETTA
STATE/ZIP : GA 30067
MORTGAGE AMOUNT : 349,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 348,947.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,471.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 60.73000
----------------------------------------------------------------
0 0031753106 MORTGAGORS: ALEXANDER JOHN
ALEXANDER SALLY
REGION CODE ADDRESS : 17049 WEST 68TH PLACE
01 CITY : ARVADA
STATE/ZIP : CO 80007
MORTGAGE AMOUNT : 263,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,425.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,861.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 76.23100
----------------------------------------------------------------
0 0031753114 MORTGAGORS: CHANNON ROBERT
JELLINEK LESLIE
REGION CODE ADDRESS : 1320 EAST MADISON PARK
01 CITY : CHICAGO
STATE/ZIP : IL 60615
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,569.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,013.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031753163 MORTGAGORS: CORY MATTHEW
DOWNES CAROL
REGION CODE ADDRESS : 786 ELM AVENUE
01 CITY : SAN BRUNO
STATE/ZIP : CA 94066
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,815.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,804.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.68700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,485,200.00
P & I AMT: 10,430.96
UPB AMT: 1,482,750.59
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 202
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031753171 MORTGAGORS: AQUINO CHRISTOPHER
AQUINO CONNIE
REGION CODE ADDRESS : 1382 BING DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95129
MORTGAGE AMOUNT : 388,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 387,726.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,779.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031753205 MORTGAGORS: MISKOVIC EDWARD
MISKOVIC SUSAN
REGION CODE ADDRESS : 6911 DEERWOOD COURT
01 CITY : LIVERMORE
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,812.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,762.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031753213 MORTGAGORS: HUBBARD GREGORY
HUBBARD MARCIA
REGION CODE ADDRESS : 10048 RALEIGH STREET
01 CITY : WESTMINSTER
STATE/ZIP : CO 80030
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,746.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,477.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.18500
----------------------------------------------------------------
0 0031753247 MORTGAGORS: RAMAS ELIZAR
RAMAS CARMELITA
REGION CODE ADDRESS : 4561 FELLOWS STREET
01 CITY : UNION CITY
STATE/ZIP : CA 94587
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,829.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,798.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031753254 MORTGAGORS: CASELDINE ROBERT
CASELDINE MARSHA
REGION CODE ADDRESS : 2251 NORTH 32ND STREET #25
01 CITY : MESA
STATE/ZIP : AZ 85213
MORTGAGE AMOUNT : 335,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 334,748.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,345.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 72.93400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,573,500.00
P & I AMT: 11,163.01
UPB AMT: 1,571,863.50
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 203
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031753270 MORTGAGORS: STANBARY KEITH
STANBARY NANCY
REGION CODE ADDRESS : 6N297 N MILLER LANE
01 CITY : ST. CHARLES
STATE/ZIP : IL 60175
MORTGAGE AMOUNT : 273,712.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,508.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,913.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031753304 MORTGAGORS: ARNOLD JOHN
ARNOLD SARAH
REGION CODE ADDRESS : 923 BUCKINGHAM CIRCLE, NW.
01 CITY : ATLANTA
STATE/ZIP : GA 30327
MORTGAGE AMOUNT : 243,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,616.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 55.22700
----------------------------------------------------------------
0 0031753411 MORTGAGORS: PEARSON ANTONY
MARTIN ANN
REGION CODE ADDRESS : 2961 BREAKWATER DRIVE
01 CITY : LONGMONT
STATE/ZIP : CO 80501
MORTGAGE AMOUNT : 382,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 381,944.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,707.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031753445 MORTGAGORS: MELLING GARY
MELLING ELIZABETH
REGION CODE ADDRESS : 7587 UNION COURT
01 CITY : ARVADA
STATE/ZIP : CO 80005
MORTGAGE AMOUNT : 282,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,000.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,023.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031753478 MORTGAGORS: ZIEREIS WILLIAM
ZIEREIS NANCY
REGION CODE ADDRESS : 14004 EAST FAIR AVENUE
01 CITY : ENGLEWOOD
STATE/ZIP : CO 80111
MORTGAGE AMOUNT : 267,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,915.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,893.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 64.92700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,449,112.00
P & I AMT: 10,154.33
UPB AMT: 1,447,368.98
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 204
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031753494 MORTGAGORS: STEWART JAMES
REGION CODE ADDRESS : 4695 WESTCHESTER COURT
01 CITY : DULUTH
STATE/ZIP : GA 30136
MORTGAGE AMOUNT : 317,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 316,781.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,298.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 77.31700
----------------------------------------------------------------
0 0031753510 MORTGAGORS: ELLEGAARD ERIC
ELLEGAARD JOAN
REGION CODE ADDRESS : 29702 TERACINA
01 CITY : LAGUNA NIGUEL
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,777.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 77.92200
----------------------------------------------------------------
0 0031753569 MORTGAGORS: RICHARDS MARK
RICHARDS IVY
REGION CODE ADDRESS : 8620 WOODWREN LANE
01 CITY : FAIRFAX
STATE/ZIP : VA 22039
MORTGAGE AMOUNT : 383,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 383,593.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,586.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.98900
----------------------------------------------------------------
0 0031753619 MORTGAGORS: LU LING
REGION CODE ADDRESS : 1884 FUMAI PLACE
01 CITY : SAN JOSE
STATE/ZIP : CA 95131
MORTGAGE AMOUNT : 306,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 305,274.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,010.54 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
0 0031753676 MORTGAGORS: SWANSON C. DAVID
SWANSON GILLIAN
REGION CODE ADDRESS : 2158 REDCLIFF STREET
01 CITY : LOS ANGELES
STATE/ZIP : CA 90039
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,746.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,477.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 61.94600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,656,950.00
P & I AMT: 11,470.34
UPB AMT: 1,655,173.07
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 205
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031753791 MORTGAGORS: NAKATA MICHAEL
NAKATA CLARISSA
REGION CODE ADDRESS : 237 SAINT JOSEPH AVENUE
01 CITY : LONG BEACH
STATE/ZIP : CA 90803
MORTGAGE AMOUNT : 453,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 452,674.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,286.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 78.83400
----------------------------------------------------------------
0 0031753817 MORTGAGORS: PALMER JACK
REGION CODE ADDRESS : 18842 SAGINAW DRIVE
01 CITY : IRVINE
STATE/ZIP : CA 92612
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,782.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,123.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 77.92200
----------------------------------------------------------------
0 0031753874 MORTGAGORS: WOLL ADA
REGION CODE ADDRESS : 2367 VILLANDRY COURT
01 CITY : HENDERSON
STATE/ZIP : NV 89014
MORTGAGE AMOUNT : 347,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 346,742.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,426.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 67.37800
----------------------------------------------------------------
0 0031753908 MORTGAGORS: ZUTTER ALAIN
ZUTTER RENEE
REGION CODE ADDRESS : 18 LAUREL GLENN TERRACE
01 CITY : SAN RAFAEL
STATE/ZIP : CA 94903
MORTGAGE AMOUNT : 345,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 345,343.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,416.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031753916 MORTGAGORS: KENNEDY PATRICK
REGION CODE ADDRESS : 723 WESTMOUNT DRIVE #301
01 CITY : WEST HOLLYWOOD
STATE/ZIP : CA 90069
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,812.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,762.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,697,900.00
P & I AMT: 12,014.90
UPB AMT: 1,696,355.87
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 206
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031753932 MORTGAGORS: CHAMBERS TIMOTHY
CHAMBERS PENNY
REGION CODE ADDRESS : 28920 GREYSTONE
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,783.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,041.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031753957 MORTGAGORS: HAMILTON GARY
HAMILTON ALLYSON
REGION CODE ADDRESS : 41 WEST BRANCH DRIVE
01 CITY : HEBRON
STATE/ZIP : CT 06248
MORTGAGE AMOUNT : 239,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,822.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,671.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 83.85900
----------------------------------------------------------------
0 0031753965 MORTGAGORS: WIEZEL EDWARD
WIEZEL WENDY
REGION CODE ADDRESS : 13227 TREECREST STREET
01 CITY : POWAY
STATE/ZIP : CA 92064
MORTGAGE AMOUNT : 249,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,564.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,746.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031753973 MORTGAGORS: NADELBERG JON
NADELBERG CARYN
REGION CODE ADDRESS : 435 WEST 26TH AVENUE
01 CITY : SAN MATEO
STATE/ZIP : CA 94403
MORTGAGE AMOUNT : 333,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 333,520.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,419.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031754054 MORTGAGORS: NASH PHILIP
NASH KATHLEEN
REGION CODE ADDRESS : 145 SEARIDGE COURT
01 CITY : PISMO BEACH
STATE/ZIP : CA 93449
MORTGAGE AMOUNT : 245,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,700.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,696.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.75000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,360,200.00
P & I AMT: 9,576.04
UPB AMT: 1,359,390.87
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 207
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031754450 MORTGAGORS: ALCHIMISTI GERALD
REGION CODE ADDRESS : 426 HILL WAY
01 CITY : SAN CARLOS
STATE/ZIP : CA 94070
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,934.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 78.94700
----------------------------------------------------------------
0 0031754500 MORTGAGORS: COLMERY BENJAMIN
ADAMS CHARLIE
REGION CODE ADDRESS : 5171 ARBOR VALLEY DR
01 CITY : ANN ARBOR
STATE/ZIP : MI 48105
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,463.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,517.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 76.92300
----------------------------------------------------------------
0 0031754526 MORTGAGORS: LONIEWSKI EDWARD
LONIEWSKI MELISSA
REGION CODE ADDRESS : 3931 PEPPERIDGE TRAIL
01 CITY : BRIGHTON TWP
STATE/ZIP : MI 48116
MORTGAGE AMOUNT : 363,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 362,759.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,544.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.24700
----------------------------------------------------------------
0 0031754534 MORTGAGORS: WILSON KEVIN
WILSON KATHERINE
REGION CODE ADDRESS : 7031 BRADSTOCK COURT
01 CITY : BIRMINGHAM
STATE/ZIP : AL 35242
MORTGAGE AMOUNT : 305,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 304,316.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,132.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 76.63300
----------------------------------------------------------------
0 0031754567 MORTGAGORS: MARTINEZ RAUL
MARTINEZ NANCY
REGION CODE ADDRESS : 456 SCHOONER WAY
01 CITY : SEAL BEACH
STATE/ZIP : CA 90704
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,428.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,855.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,570,850.00
P & I AMT: 10,983.72
UPB AMT: 1,567,969.35
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 208
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031754609 MORTGAGORS: CHRESAIDOS GEORGE
CHRESAIDOS KAY
REGION CODE ADDRESS : 400 NORTH DOWNEY LANE
01 CITY : PLACENTIA
STATE/ZIP : CA 92870
MORTGAGE AMOUNT : 295,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,270.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,962.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 74.68300
----------------------------------------------------------------
0 0031754617 MORTGAGORS: BERNSTEIN ROBERT
REGION CODE ADDRESS : 2224 WILDWOOD COURT
01 CITY : FULLERTON
STATE/ZIP : CA 92831
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,605.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,925.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031754666 MORTGAGORS: NASTALA CHET
NASTALA CARLA
REGION CODE ADDRESS : 8024 WINDERMERE DRIVE
01 CITY : FAIR OAKS RANCH
STATE/ZIP : TX 78015
MORTGAGE AMOUNT : 267,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,181.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,825.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031754724 MORTGAGORS: BISHOP KAREN
REGION CODE ADDRESS : 7854 BLERIOT AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90045
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,585.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,676.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031754807 MORTGAGORS: ABRUZZESE DEREK
NEWMARK MEREL
REGION CODE ADDRESS : 31 AUTUMN LANE
01 CITY : READING
STATE/ZIP : MA 01867
MORTGAGE AMOUNT : 338,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 338,108.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,194.86 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,425,000.00
P & I AMT: 9,584.76
UPB AMT: 1,422,750.90
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 209
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031754856 MORTGAGORS: MION RONALD
MION GLENDA
REGION CODE ADDRESS : 1100 LOS CABALLITOS
01 CITY : DEL MAR
STATE/ZIP : CA 92014
MORTGAGE AMOUNT : 420,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 419,358.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,900.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 61.31300
----------------------------------------------------------------
0 0031754906 MORTGAGORS: OLDFIELD ROBERT
OLDFIELD DENISE
REGION CODE ADDRESS : 10818 CHERRY HILL DRIVE
01 CITY : GLEN ALLEN
STATE/ZIP : VA 23060
MORTGAGE AMOUNT : 382,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 381,916.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,641.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 69.54500
----------------------------------------------------------------
0 0031754948 MORTGAGORS: REYNOLDS KENNETH
REYNOLDS SUSAN
REGION CODE ADDRESS : 1100 SW FOUNTAIN CIR
01 CITY : LEE'S SUMMIT
STATE/ZIP : MO 64081
MORTGAGE AMOUNT : 332,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,840.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,265.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 73.80000
----------------------------------------------------------------
0 0031755036 MORTGAGORS: DALY MATTHEW
DALY SHARI
REGION CODE ADDRESS : 6218 OAK PARK AVENUE
01 CITY : LAS VEGAS
STATE/ZIP : NV 89118
MORTGAGE AMOUNT : 351,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,739.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,454.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031755119 MORTGAGORS: MCMAHON ANTHONY
MCMAHON VIVIAN
REGION CODE ADDRESS : 2664 SURREY DRIVE
01 CITY : COVINA AREA
STATE/ZIP : CA 91724
MORTGAGE AMOUNT : 286,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,132.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,977.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.98800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,771,950.00
P & I AMT: 12,240.18
UPB AMT: 1,769,987.50
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 210
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031755135 MORTGAGORS: SOLLIDAY ROBERT
REGION CODE ADDRESS : 211 WEST LINGER LANE
01 CITY : PHOENIX
STATE/ZIP : AZ 85021
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,778.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,937.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031755242 MORTGAGORS: SAID SAID
TADROS SUZAN
REGION CODE ADDRESS : 6980 GRIZZLY COURT
01 CITY : MANASSAS
STATE/ZIP : VA 20112
MORTGAGE AMOUNT : 278,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,114.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,900.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
0 0031755283 MORTGAGORS: MERICKEL LAURA
MERICKEL THOMAS
REGION CODE ADDRESS : 5083 ALAMEDA STREET
01 CITY : SHOREVIEW
STATE/ZIP : MN 55126
MORTGAGE AMOUNT : 366,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 366,427.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,564.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.45200
----------------------------------------------------------------
0 0031755390 MORTGAGORS: RAKESTRAW STANLEY
RAKESTRAW PAMELA
REGION CODE ADDRESS : 1705 CAMBRIDGE AVENUE
01 CITY : FLOSSMOOR
STATE/ZIP : IL 60422
MORTGAGE AMOUNT : 592,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 591,887.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,040.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 65.45300
----------------------------------------------------------------
0 0031755564 MORTGAGORS: PACOMA-ALAIMO E
PACOMA JOSELIA
REGION CODE ADDRESS : 1261 SIERRA VILLAGE PLACE
01 CITY : SAN JOSE
STATE/ZIP : CA 95132
MORTGAGE AMOUNT : 242,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,250.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,693.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,763,850.00
P & I AMT: 12,136.35
UPB AMT: 1,762,458.28
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 211
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031755655 MORTGAGORS: BOEHL ANDREW
BOEHL MELODY
REGION CODE ADDRESS : 3570 LUNEMAN ROAD
01 CITY : PLACERVILLE
STATE/ZIP : CA 95667
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,726.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,486.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031755721 MORTGAGORS: GOULD WILLIAM
GOULD SUSAN
REGION CODE ADDRESS : 83 WHITNEY ROAD
01 CITY : MILLBURN TOWNSHIP
STATE/ZIP : NJ 07078
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,417.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 77.95100
----------------------------------------------------------------
0 0031755770 MORTGAGORS: YORDANOFF B
LUECK CAROLYN
REGION CODE ADDRESS : 2019 NORTH MOHAWK #3
01 CITY : CHICAGO
STATE/ZIP : IL 60614
MORTGAGE AMOUNT : 425,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 425,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,899.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 54.83800
----------------------------------------------------------------
0 0031755838 MORTGAGORS: SPEARMAN REGGIE
SPEARMAN LETITIA
REGION CODE ADDRESS : 6144 S. KINGS ROAD
01 CITY : LOS ANGELES
STATE/ZIP : CA 90056
MORTGAGE AMOUNT : 318,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 318,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,120.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 74.12700
----------------------------------------------------------------
0 0031756034 MORTGAGORS: CORNISH KEVIN
CORNISH TRACY
REGION CODE ADDRESS : 5850 GOLD CREEK DRIVE
01 CITY : CASTRO VALLEY
STATE/ZIP : CA 94552
MORTGAGE AMOUNT : 293,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 293,550.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,002.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 68.90800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,747,300.00
P & I AMT: 11,926.23
UPB AMT: 1,747,026.07
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 212
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031756810 MORTGAGORS: DONNELLY GEORGE
SMITH BETHANY
REGION CODE ADDRESS : 23 COTTAGE STREET
01 CITY : WELLSLEY
STATE/ZIP : MA 02482
MORTGAGE AMOUNT : 450,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 450,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,031.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031756984 MORTGAGORS: LUDWICK ARTHUR
REGION CODE ADDRESS : 5522 WEST SAINT FRANCIS CIRCLE
01 CITY : LOOMIS
STATE/ZIP : CA 95650
MORTGAGE AMOUNT : 365,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 364,722.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,520.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 68.22400
----------------------------------------------------------------
0 0031757214 MORTGAGORS: GHARIOS KHALIL
GHARIOS NANCY
REGION CODE ADDRESS : 4556 WHITEWOOD AVENUE
01 CITY : LONG BEACH
STATE/ZIP : CA 90808
MORTGAGE AMOUNT : 233,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 232,734.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,721.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/23
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 67.53600
----------------------------------------------------------------
0 0031757222 MORTGAGORS: MUSSALLAM JOSEPH
MUSSALLAM JANAF
REGION CODE ADDRESS : 157 SUSSEX COURT
01 CITY : SAN RAMON
STATE/ZIP : CA 94583
MORTGAGE AMOUNT : 286,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,187.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,002.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 65.46200
----------------------------------------------------------------
0 0031757479 MORTGAGORS: TRAFICANTE EMILY
MCLEOD ROBERT
REGION CODE ADDRESS : 7116 TATLER ROAD
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 250,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,104.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,707.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,584,700.00
P & I AMT: 10,984.59
UPB AMT: 1,583,748.86
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 213
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031757495 MORTGAGORS: JOHNSTONE JEFFREY
JOHNSTONE KELLY
REGION CODE ADDRESS : 1043 VISTA MADERA LANE
01 CITY : EL CAJON
STATE/ZIP : CA 92019
MORTGAGE AMOUNT : 319,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 318,763.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,230.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.95200
----------------------------------------------------------------
0 0031757529 MORTGAGORS: DARCY VALERIE
REGION CODE ADDRESS : 12 WEST CENTRAL AVENUE
01 CITY : LOS GATOS
STATE/ZIP : CA 95030
MORTGAGE AMOUNT : 422,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 422,222.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,777.50 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0031757545 MORTGAGORS: BERGER JEFF
HASKI MARY JEAN
REGION CODE ADDRESS : 925 LINDEN AVENUE
01 CITY : BURLINGAME
STATE/ZIP : CA 94010
MORTGAGE AMOUNT : 286,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,776.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,951.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 78.35616
----------------------------------------------------------------
0 0031757578 MORTGAGORS: WETHERED WALTER
REGION CODE ADDRESS : 4395 GARRITY BLVD
01 CITY : NAMPA
STATE/ZIP : ID 83687
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,805.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,768.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031757610 MORTGAGORS: HOLT J C
HOLT SHERYL
REGION CODE ADDRESS : 1640 CASA GRANDE STREET
01 CITY : PASADENA
STATE/ZIP : CA 91104
MORTGAGE AMOUNT : 345,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 344,724.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,324.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.19300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,628,800.00
P & I AMT: 11,051.49
UPB AMT: 1,627,291.74
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 214
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031757628 MORTGAGORS: GOYETTE DANIEL
GOYETTE CATHERINE
REGION CODE ADDRESS : 72 WEST CARTER AVENUE
01 CITY : SIERRA MADRE
STATE/ZIP : CA 91024
MORTGAGE AMOUNT : 247,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,316.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,730.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031757644 MORTGAGORS: OLSON THOMAS
OLSON BEVERLY
REGION CODE ADDRESS : 32642 COPPERCREST DRIVE
01 CITY : TRABUCO CANYON
STATE/ZIP : CA 92679
MORTGAGE AMOUNT : 241,925.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,721.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,589.28 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 61.24600
----------------------------------------------------------------
0 0031757651 MORTGAGORS: LEMESH RUSSELL
LEMESH CYNTHIA
REGION CODE ADDRESS : 41 CREEKSIDE DRIVE
01 CITY : SAN RAFAEL
STATE/ZIP : CA 94903
MORTGAGE AMOUNT : 346,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 345,743.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,419.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.40800
----------------------------------------------------------------
0 0031757677 MORTGAGORS: COPELAND PAUL
COPELAND KATHLEEN
REGION CODE ADDRESS : 49 WEST ORANGE GROVE AVENUE
01 CITY : ARCADIA
STATE/ZIP : CA 91006
MORTGAGE AMOUNT : 345,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 344,743.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,412.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 69.00000
----------------------------------------------------------------
0 0031757693 MORTGAGORS: KATZMANN STEVEN
KATZMANN SUSAN
REGION CODE ADDRESS : 21850 HEATHER RIDGE DRIVE
01 CITY : YORBA LINDA
STATE/ZIP : CA 92887
MORTGAGE AMOUNT : 392,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 391,670.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,575.17 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,572,425.00
P & I AMT: 10,726.60
UPB AMT: 1,571,195.89
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 215
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031757719 MORTGAGORS: MATHESON MARK
REGION CODE ADDRESS : 4246 TRIAS STREET
01 CITY : SAN DIEGO
STATE/ZIP : CA 92103
MORTGAGE AMOUNT : 385,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 384,714.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,691.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0031757735 MORTGAGORS: MICHAELI DAVID
REGION CODE ADDRESS : 1932 IDAHO AVENUE
01 CITY : SANTA MONICA
STATE/ZIP : CA 90403
MORTGAGE AMOUNT : 227,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 227,326.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,571.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 63.19400
----------------------------------------------------------------
0 0031757750 MORTGAGORS: HOLTHE DONALD
MCKAY-HOLTHE KAREN
REGION CODE ADDRESS : 18975 SOUTH MESA DRIVE
01 CITY : VILLA PARK
STATE/ZIP : CA 92861
MORTGAGE AMOUNT : 302,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 301,746.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,983.93 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 69.42500
----------------------------------------------------------------
0 0031757776 MORTGAGORS: WELLING BRENT
WELLING SHEREEN
REGION CODE ADDRESS : 1074 OAK HILL ROAD
01 CITY : LAFAYETTE
STATE/ZIP : CA 94549
MORTGAGE AMOUNT : 355,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 354,709.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,361.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 63.96300
----------------------------------------------------------------
0 0031757784 MORTGAGORS: MCHOLLAND GARY
MCHOLLAND KIMBERLY
REGION CODE ADDRESS : 39336 SPANISH BAY PLACE
01 CITY : DAVIS
STATE/ZIP : CA 95616
MORTGAGE AMOUNT : 487,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 487,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,367.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,757,000.00
P & I AMT: 11,976.07
UPB AMT: 1,755,996.44
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 216
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031757800 MORTGAGORS: O HARA MICHAEL
O HARA HELEN
REGION CODE ADDRESS : 2050 FALLEN LEAF LANE
01 CITY : LOS ALTOS
STATE/ZIP : CA 94024
MORTGAGE AMOUNT : 475,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 474,600.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,120.42 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 67.85700
----------------------------------------------------------------
0 0031757818 MORTGAGORS: TREVINO EDUARDO
TREVINO NANCY
REGION CODE ADDRESS : 7 POSSUM RUN
01 CITY : IRVINE
STATE/ZIP : CA 92614
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,720.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,740.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 76.36300
----------------------------------------------------------------
0 0031757842 MORTGAGORS: GHASSEMI HOSSEIN
GHASSEMI SHAHRZAD
REGION CODE ADDRESS : 21931 WOODLAND CREST DRIVE
01 CITY : WOODLAND HILLS
STATE/ZIP : CA 91364
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,726.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,387.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.26800
----------------------------------------------------------------
0 0031757859 MORTGAGORS: SASS ALLAN
SASS EVELYN
REGION CODE ADDRESS : 538 WEST STEVENS ROAD
01 CITY : PALM SPRINGS
STATE/ZIP : CA 92262
MORTGAGE AMOUNT : 497,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 496,602.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,348.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 58.47000
----------------------------------------------------------------
0 0031757867 MORTGAGORS: O'SHAUGHNESSY WILLIAM
O'SHAUGHNESSY EVELYN
REGION CODE ADDRESS : 212 ARBOR LANE
01 CITY : SAN MATEO
STATE/ZIP : CA 94403
MORTGAGE AMOUNT : 354,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 353,709.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,355.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 56.54900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,928,000.00
P & I AMT: 12,952.11
UPB AMT: 1,923,360.68
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 217
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031757875 MORTGAGORS: BRADBERRY MARK
FENWICK STACY
REGION CODE ADDRESS : 28371 CAMINO DIMORA
01 CITY : SAN JUAN CAPISTRANO
STATE/ZIP : CA 92675
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,726.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,486.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.26000
----------------------------------------------------------------
0 0031758071 MORTGAGORS: WAGAN STEVEN
KINARD LAUREL
REGION CODE ADDRESS : 610 NEW HAVEN DRIVE
01 CITY : SUWANEE
STATE/ZIP : GA 30024
MORTGAGE AMOUNT : 266,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,797.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.98500
----------------------------------------------------------------
0 0031758188 MORTGAGORS: THOMAS JOHN
THOMAS SUSAN
REGION CODE ADDRESS : 4359 HANNA HILLS DR
01 CITY : DUBLIN
STATE/ZIP : OH 43016
MORTGAGE AMOUNT : 327,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,524.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,376.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031758204 MORTGAGORS: FERRY STEPHEN
FERRY ELIZABETH
REGION CODE ADDRESS : 11560 HOLLY BRIAR LANE
01 CITY : GREAT FALLS
STATE/ZIP : VA 22066
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,595.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,901.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 59.78000
----------------------------------------------------------------
0 0031758220 MORTGAGORS: FITZHUGH GARY
REGION CODE ADDRESS : 898 COACHWAY
01 CITY : ANNAPOLIS
STATE/ZIP : MD 21401
MORTGAGE AMOUNT : 400,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,583.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,866.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 75.50000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,626,650.00
P & I AMT: 11,428.60
UPB AMT: 1,625,178.83
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 218
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031758238 MORTGAGORS: YORCK D.
YORCK FRANCINE
REGION CODE ADDRESS : 5556 CAMINITO EXQUISITO
01 CITY : SAN DIEGO
STATE/ZIP : CA 92130
MORTGAGE AMOUNT : 292,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,758.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,921.52 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031758261 MORTGAGORS: BARRATT WARREN
BARRATT LISA
REGION CODE ADDRESS : 1419 EVIE LANE
01 CITY : WEST CHESTER
STATE/ZIP : PA 19382
MORTGAGE AMOUNT : 380,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 379,559.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,497.65 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 77.80200
----------------------------------------------------------------
0 0031758279 MORTGAGORS: BANET THOMAS
BANET SUSAN
REGION CODE ADDRESS : 10558 FOX FOREST DRIVE
01 CITY : GREAT FALLS
STATE/ZIP : VA 22066
MORTGAGE AMOUNT : 355,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 354,401.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,332.10 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 56.35100
----------------------------------------------------------------
0 0031758329 MORTGAGORS: PARRISH DOUGLAS
BRASIER MARILYN
REGION CODE ADDRESS : 9430 LAKESIDE DR
01 CITY : VIENNA
STATE/ZIP : VA 22182
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,663.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,627.72 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 71.71600
----------------------------------------------------------------
0 0031758378 MORTGAGORS: NEERMAN DAIVD
NEERMAN MARGARET
REGION CODE ADDRESS : 6131 BROOK DRIVE
01 CITY : FALLS CHURCH
STATE/ZIP : VA 22044
MORTGAGE AMOUNT : 266,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,212.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,886.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 74.46900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,694,300.00
P & I AMT: 11,265.97
UPB AMT: 1,691,596.49
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 219
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031758394 MORTGAGORS: TAAPKEN TODD
TAAPKEN LISA
REGION CODE ADDRESS : 568 MARAGA WAY
01 CITY : ORINDA
STATE/ZIP : CA 94553
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,731.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,182.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031758402 MORTGAGORS: KENNY DALE
KENNY PHYLLIS
REGION CODE ADDRESS : 1789 WARBLER PLACE
01 CITY : ORANGE
STATE/ZIP : CA 92867
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,642.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,678.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031758477 MORTGAGORS: STOCKWELL GORDON
REGION CODE ADDRESS : 22181 WAYSIDE
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 410,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 409,248.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,271.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/18
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 74.54500
----------------------------------------------------------------
0 0031758527 MORTGAGORS: SHIRLEY KENNETH
SHIRLEY LUZ
REGION CODE ADDRESS : 20214 BARNARD AVENUE
01 CITY : WALNUT
STATE/ZIP : CA 91789
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,812.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,762.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 77.06400
----------------------------------------------------------------
0 0031759509 MORTGAGORS: GERBER ROBERT
GERBER ELIZABETH
REGION CODE ADDRESS : 1335 NORTH BALDWIN AVENUE
01 CITY : ARCADIA
STATE/ZIP : CA 91006
MORTGAGE AMOUNT : 384,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 383,707.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,652.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,614,000.00
P & I AMT: 11,546.19
UPB AMT: 1,612,142.70
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 220
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031759525 MORTGAGORS: BRADBURY WILLIAM
BRADBURY CYNTHIA
REGION CODE ADDRESS : 160 ALDER STREET
01 CITY : CORONADO
STATE/ZIP : CA 92118
MORTGAGE AMOUNT : 341,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 340,933.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,327.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 65.61500
----------------------------------------------------------------
0 0031759541 MORTGAGORS: CHAIM NISSIM
CHAIM SHARLET
REGION CODE ADDRESS : 146 NORTH CERSON ROAD
01 CITY : BEVERLY HILLS
STATE/ZIP : CA 90211
MORTGAGE AMOUNT : 370,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 369,681.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,399.81 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 31.62300
----------------------------------------------------------------
0 0031759830 MORTGAGORS: HENRY ROBERT
HENRY JANET
REGION CODE ADDRESS : 1780 BOWLING GREEN DRIVE
01 CITY : LAKE FOREST
STATE/ZIP : IL 60045
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,328.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 64.22000
----------------------------------------------------------------
0 0031759962 MORTGAGORS: MOEGLEIN CAROLYN
MOEGLEIN MARK
REGION CODE ADDRESS : 635 FONTES DRIVE
01 CITY : FREMONT
STATE/ZIP : CA 94539
MORTGAGE AMOUNT : 471,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 470,641.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,253.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.50000
----------------------------------------------------------------
0 0031759996 MORTGAGORS: MANHA ANNE
MANHA JIM
REGION CODE ADDRESS : 100 TRIPOLI COURT
01 CITY : SAN RAMON
STATE/ZIP : CA 94583
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,809.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,726.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 67.56756
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,782,200.00
P & I AMT: 12,035.73
UPB AMT: 1,781,066.65
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 221
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031760044 MORTGAGORS: RICHARDSON JEFF
RICHARDSON PENNY
REGION CODE ADDRESS : 808 PIEDMONT WAY
01 CITY : REDWOOD CITY
STATE/ZIP : CA 94062
MORTGAGE AMOUNT : 390,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 389,703.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,693.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 59.09000
----------------------------------------------------------------
0 0031760085 MORTGAGORS: DODSON J
DODSON SHARON
REGION CODE ADDRESS : 11 CUTTING COURT
01 CITY : WALNUT CREEK
STATE/ZIP : CA 94596
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,766.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,202.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031760119 MORTGAGORS: NELSON JAMES
NELSON JANE
REGION CODE ADDRESS : 221 HIDDEN VALLEY LANE
01 CITY : VACAVILLE
STATE/ZIP : CA 95688
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 379,717.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,657.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031760127 MORTGAGORS: O'HENLEY RICHARD
O'HENLEY NICOLE
REGION CODE ADDRESS : 12 GREENVALE STREET
01 CITY : RANCHO SANTA MARGARITA
STATE/ZIP : CA 92688
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,769.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031760135 MORTGAGORS: DENT KENNETH
DENT ADRIENNE
REGION CODE ADDRESS : 1229 NOE STREET
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94114
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,769.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,167.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 70.45400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,639,000.00
P & I AMT: 11,489.91
UPB AMT: 1,637,957.39
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 222
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031760176 MORTGAGORS: GILBERT SHELDON
GILBERT SUZANNE
REGION CODE ADDRESS : 7281 CASTLE DRIVE
01 CITY : DUBLIN
STATE/ZIP : CA 94568
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,811.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,840.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 77.61100
----------------------------------------------------------------
0 0031760234 MORTGAGORS: TICHENOR BYRAM
TICHENOR ALISON
REGION CODE ADDRESS : 8028 YUCCA SPRINGS DRIVE
01 CITY : LAS VEGAS
STATE/ZIP : NV 89129
MORTGAGE AMOUNT : 273,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,797.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,908.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 69.11392
----------------------------------------------------------------
0 0031760242 MORTGAGORS: MYLCHREEST IAIN
MYLCHREEST LINDA
REGION CODE ADDRESS : 6310 BLACKBERRY COURT
01 CITY : GILROY
STATE/ZIP : CA 95020
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,539.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,862.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 68.29200
----------------------------------------------------------------
0 0031760309 MORTGAGORS: UKANWA ALEXANDER
UKANWA MARIA
REGION CODE ADDRESS : 593 EL INVIERNO DRIVE,
01 CITY : GILROY,
STATE/ZIP : CA 95020
MORTGAGE AMOUNT : 280,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,170.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,865.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.98600
----------------------------------------------------------------
0 0031760325 MORTGAGORS: PRYOR JON
PRYOR LAURIE
REGION CODE ADDRESS : 14180 STONEGATE LANE
01 CITY : MINNETONKA
STATE/ZIP : MN 55345
MORTGAGE AMOUNT : 439,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 439,123.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,072.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.75400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,532,850.00
P & I AMT: 10,550.18
UPB AMT: 1,531,442.86
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 223
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031760341 MORTGAGORS: JONASSON AXEL
REGION CODE ADDRESS : 6351 BLACKBERRY COURT
01 CITY : GILROY
STATE/ZIP : CA 95020
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,376.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,676.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.97100
----------------------------------------------------------------
0 0031760408 MORTGAGORS: COFIELD DAVID
COFIELD CHARLOTTE
REGION CODE ADDRESS : 330 OAKWOOD CIRCLE
01 CITY : MARTINEZ
STATE/ZIP : CA 94553
MORTGAGE AMOUNT : 243,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,110.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,659.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 94.97700
----------------------------------------------------------------
0 0031760465 MORTGAGORS: AUERBACH BRUCE
AUERBACH DEBORAH
REGION CODE ADDRESS : 2 STODDARD COURT
01 CITY : SPARKS
STATE/ZIP : MD 21152
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,726.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,387.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 73.68400
----------------------------------------------------------------
0 0031760481 MORTGAGORS: MARTI STEPHAN
MARTI CAROLINA
REGION CODE ADDRESS : 34 FIELD ROAD
01 CITY : RIVERSIDE
STATE/ZIP : CT 06878
MORTGAGE AMOUNT : 492,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 491,596.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,273.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031760523 MORTGAGORS: ROLAND PAUL
ROLAND LYNDA
REGION CODE ADDRESS : 28943 233RD AVENUE SOUTHEAST
01 CITY : KENT
STATE/ZIP : WA 98042
MORTGAGE AMOUNT : 244,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,576.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,691.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.97061
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,582,250.00
P & I AMT: 10,689.03
UPB AMT: 1,580,386.61
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 224
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031760598 MORTGAGORS: PETERS THOMAS
REGION CODE ADDRESS : 5560 STONELEIGH DRIVE
01 CITY : SUWANEE
STATE/ZIP : GA 30024
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,328.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 61.51142
----------------------------------------------------------------
0 0031760630 MORTGAGORS: HUNT FORREST
REGION CODE ADDRESS : 1710 NEW HAMPTON LANE
01 CITY : WOODSTOCK
STATE/ZIP : MD 21163
MORTGAGE AMOUNT : 353,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 352,924.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,409.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.98800
----------------------------------------------------------------
0 0031760655 MORTGAGORS: WALKER DAVID
WALKER DONNA
REGION CODE ADDRESS : 2 KOSHARI
01 CITY : SANTE FE
STATE/ZIP : NM 87501
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,600.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,368.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 69.44400
----------------------------------------------------------------
0 0031760713 MORTGAGORS: KOBAYASHI WESLEY
KOBAYASHI NANCY
REGION CODE ADDRESS : 48 CRESTVIEW
01 CITY : LAS FLORES AREA
STATE/ZIP : CA 92688
MORTGAGE AMOUNT : 405,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 405,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,762.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 73.63600
----------------------------------------------------------------
0 0031760903 MORTGAGORS: TINDALL JOHN
REGION CODE ADDRESS : 11464 DISCOVERY HEIGHTS CIRCLE
01 CITY : ANCHORAGE
STATE/ZIP : AK 99516
MORTGAGE AMOUNT : 411,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 410,687.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,838.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 74.72700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,019,200.00
P & I AMT: 13,708.08
UPB AMT: 2,018,211.90
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 225
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031760978 MORTGAGORS: LEE N
LEE BRENDA
REGION CODE ADDRESS : 103 ACACIA COURT
01 CITY : WILLIAMSBURG
STATE/ZIP : VA 23185
MORTGAGE AMOUNT : 357,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 356,721.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,435.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 68.91800
----------------------------------------------------------------
0 0031761042 MORTGAGORS: FRATKIN LOUIS
FRATKIN JO ANN
REGION CODE ADDRESS : 2816 QUEENS WAY
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91362
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,764.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,300.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.26829
----------------------------------------------------------------
0 0031761125 MORTGAGORS: SCHAFER HAROLD
SCHAFER DONNA
REGION CODE ADDRESS : 101 IDLEWOOD ROAD
01 CITY : KENTFIELD
STATE/ZIP : CA 94904
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,695.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,762.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 44.44400
----------------------------------------------------------------
0 0031761398 MORTGAGORS: HEALY JAMES
HEALY LAURA
REGION CODE ADDRESS : 7831 COWAN AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90045
MORTGAGE AMOUNT : 352,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 352,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,401.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031761521 MORTGAGORS: HEPNER LINDA
REGION CODE ADDRESS : 1561 REEVES STREET
01 CITY : LOS ANGELES
STATE/ZIP : CA 90035
MORTGAGE AMOUNT : 519,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 519,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,496.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 51.90000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,953,000.00
P & I AMT: 13,396.26
UPB AMT: 1,952,181.92
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 226
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031761760 MORTGAGORS: CHANDRA GOPINATH
GOPINATH SRIDEVI
REGION CODE ADDRESS : 2440 HERITAGE WAY
01 CITY : UNION CITY
STATE/ZIP : CA 94587
MORTGAGE AMOUNT : 353,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 352,881.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,439.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.82500
----------------------------------------------------------------
0 0031761984 MORTGAGORS: KUHLMANN HORST
KUHLMANN WIEBKE
REGION CODE ADDRESS : 1435 SAN ADREAS ROAD
01 CITY : LE SELVA BEACH
STATE/ZIP : CA 95076
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 304,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,048.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 17.37100
----------------------------------------------------------------
0 0031762107 MORTGAGORS: BREEN MICHAEL
BREEN VIRGINIA
REGION CODE ADDRESS : 870 KNIGHT STREET
01 CITY : SONOMA
STATE/ZIP : CA 95476
MORTGAGE AMOUNT : 251,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,804.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,712.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 71.71400
----------------------------------------------------------------
0 0031762115 MORTGAGORS: CASEY SEAN
CASEY THERESA
REGION CODE ADDRESS : 1411 GLENWOOD AVENUE
01 CITY : SAN JOSE
STATE/ZIP : CA 95125
MORTGAGE AMOUNT : 311,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 310,745.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,069.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 42.83700
----------------------------------------------------------------
0 0031762123 MORTGAGORS: BARRETT RICHARD
LAHAR DEVON
REGION CODE ADDRESS : 6128 HANSEN DRIVE
01 CITY : PLEASANTON
STATE/ZIP : CA 94566
MORTGAGE AMOUNT : 344,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 343,724.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,317.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 77.47700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,563,150.00
P & I AMT: 10,586.17
UPB AMT: 1,562,155.46
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 227
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031762131 MORTGAGORS: RICH JOHN
RICH PATRICIA
REGION CODE ADDRESS : 4644 WILLOW CREST AVENUE
01 CITY : NORTH HOLLYWOOD AREA
STATE/ZIP : CA 91602
MORTGAGE AMOUNT : 249,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,741.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.32800
----------------------------------------------------------------
0 0031762149 MORTGAGORS: BREWER DENNY
BREWER DEBORAH
REGION CODE ADDRESS : 173 ROSARIO COURT
01 CITY : SAN RAMON
STATE/ZIP : CA 94583
MORTGAGE AMOUNT : 260,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,101.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,797.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031762214 MORTGAGORS: DE LA VEGA MARK
DE LA VEGA MARY
REGION CODE ADDRESS : 3427 WOODSTOCK LANE
01 CITY : MOUNTAIN VIEW
STATE/ZIP : CA 94040
MORTGAGE AMOUNT : 494,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 494,323.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,416.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 69.67600
----------------------------------------------------------------
0 0031762248 MORTGAGORS: PALASZCZUK JOHN
PALASZCZUK RITA
REGION CODE ADDRESS : 903 LEONA LANE
01 CITY : HERNDON
STATE/ZIP : VA 20171
MORTGAGE AMOUNT : 348,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 348,267.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,409.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.94600
----------------------------------------------------------------
0 0031762313 MORTGAGORS: SERINE EDWARD
SERINE DONNA
REGION CODE ADDRESS : LOT 2 HANNAH DR
01 CITY : WATERFORD
STATE/ZIP : VA 20197
MORTGAGE AMOUNT : 471,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 471,163.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,137.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 78.59100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,824,350.00
P & I AMT: 12,501.96
UPB AMT: 1,822,856.53
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 228
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031762339 MORTGAGORS: COYLE THOMAS
DENNIS KARAN
REGION CODE ADDRESS : 27 ORANGEGROVE
01 CITY : IRVINE
STATE/ZIP : CA 92604
MORTGAGE AMOUNT : 234,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,671.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,622.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.98000
----------------------------------------------------------------
0 0031762362 MORTGAGORS: BUJOK KAREL
REGION CODE ADDRESS : 3764 COOLHEIGHTS DRIVE
01 CITY : RANCHO PALOS VERDES
STATE/ZIP : CA 90275
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,720.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,358.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 58.62600
----------------------------------------------------------------
0 0031762388 MORTGAGORS: MAYNARD DENNIS
REGION CODE ADDRESS : 44189 BEAR HOLLOW AVENUE
01 CITY : SUGARLOAF
STATE/ZIP : CA 92350
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,809.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,726.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 67.56700
----------------------------------------------------------------
0 0031762396 MORTGAGORS: GOLDSMITH JEFFREY
LUMER JACQUELINE
REGION CODE ADDRESS : 516 COLE STREET
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94117
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,726.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,387.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 58.06700
----------------------------------------------------------------
0 0031762420 MORTGAGORS: LARSON CAROL
REGION CODE ADDRESS : 880 SUNRISE DRIVE,
01 CITY : GILROY,
STATE/ZIP : CA 95020
MORTGAGE AMOUNT : 235,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,812.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,583.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 58.02400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,419,850.00
P & I AMT: 9,677.63
UPB AMT: 1,418,740.20
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 229
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031762438 MORTGAGORS: O'BRIEN EVAN
O'BRIEN EVA
REGION CODE ADDRESS : 636 MONTGOMERY SCHOOL LANE
01 CITY : WYNNEWOOD
STATE/ZIP : PA 19096
MORTGAGE AMOUNT : 600,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 598,988.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,941.58 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 71.42800
----------------------------------------------------------------
0 0031762453 MORTGAGORS: GARDNER DONALD
GARDNER KATHRYN
REGION CODE ADDRESS : 1432 EAST WALNUT AVENUE
01 CITY : EL SEGUNDO
STATE/ZIP : CA 90245
MORTGAGE AMOUNT : 310,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 310,638.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,042.40 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 51.81600
----------------------------------------------------------------
0 0031762487 MORTGAGORS: YOO MOON
REGION CODE ADDRESS : 19 KINGFISHER COURT
01 CITY : TRABUCO CANYON
STATE/ZIP : CA 92679
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,781.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,708.02 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 60.46500
----------------------------------------------------------------
0 0031762560 MORTGAGORS: PERCZ LAURENCE
PERCZ CYNTHIA
REGION CODE ADDRESS : 1037 VIA NOGALES
01 CITY : PALOS VERDES ESTATES
STATE/ZIP : CA 90274
MORTGAGE AMOUNT : 423,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 422,661.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,849.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 68.66800
----------------------------------------------------------------
0 0031762628 MORTGAGORS: ROHRBACHER LARRY
ROHRBACHER KAREN
REGION CODE ADDRESS : 2152 SUNSPRITE DRIVE
01 CITY : UNION CITY
STATE/ZIP : CA 94587
MORTGAGE AMOUNT : 341,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 340,846.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,385.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.98600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,935,000.00
P & I AMT: 12,926.86
UPB AMT: 1,932,917.91
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 230
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031762636 MORTGAGORS: JOHNSON CHARLES
REGION CODE ADDRESS : 241 APTOS BEACH DRIVE
01 CITY : APTOS
STATE/ZIP : CA 95003
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 380,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,528.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031762693 MORTGAGORS: BYERRUM JAMES
BYERRUM KAY
REGION CODE ADDRESS : 1242 SALVADOR DRIVE EAST
01 CITY : PLACENTIA
STATE/ZIP : CA 92870
MORTGAGE AMOUNT : 245,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,403.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,654.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031762701 MORTGAGORS: KIEMA SAMUEL
KIEMA JEDIDAH
REGION CODE ADDRESS : 1334 EAST PALM DRIVE
01 CITY : COVINA
STATE/ZIP : CA 91724
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,821.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,885.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 93.52500
----------------------------------------------------------------
0 0031762719 MORTGAGORS: MCCULLOCH MIKE
MCCULLOCH LISA
REGION CODE ADDRESS : 12078 SEPIA COURT
01 CITY : SAN DIEGO
STATE/ZIP : CA 92128
MORTGAGE AMOUNT : 266,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,741.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,821.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031762735 MORTGAGORS: WOODWARD BARBARA
NEVIN JACK
REGION CODE ADDRESS : 288 POMONA AVENUE
01 CITY : LONG BEACH
STATE/ZIP : CA 90803
MORTGAGE AMOUNT : 279,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,976.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,881.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,431,750.00
P & I AMT: 9,770.10
UPB AMT: 1,430,943.12
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 231
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031762743 MORTGAGORS: PEARCE KENNETH
PEARCE BEVERLY
REGION CODE ADDRESS : 321 16TH STREET
01 CITY : SEAL BEACH
STATE/ZIP : CA 90740
MORTGAGE AMOUNT : 283,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,289.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,982.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031762768 MORTGAGORS: LOUGHRY HOWARD
REGION CODE ADDRESS : 3734 MANOR DRIVE
01 CITY : LAKEWOOD
STATE/ZIP : CA 90712
MORTGAGE AMOUNT : 490,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 489,662.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,552.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 65.33300
----------------------------------------------------------------
0 0031762784 MORTGAGORS: SCOTT MARK
REGION CODE ADDRESS : 5228 EL MIRADOR DRIVE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90008
MORTGAGE AMOUNT : 235,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,812.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,583.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 78.33300
----------------------------------------------------------------
0 0031762800 MORTGAGORS: GUYSE MARY
REGION CODE ADDRESS : 7264 LEEDHOM DRIVE
01 CITY : HIGHLAND
STATE/ZIP : CA 92346
MORTGAGE AMOUNT : 243,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,019.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,700.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031762925 MORTGAGORS: NOVAK JAMES
NOVAK CATHLEEN
REGION CODE ADDRESS : 126 GETCHELL STREET
01 CITY : SANTA CRUZ
STATE/ZIP : CA 95060
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 400,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,728.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 50.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,651,700.00
P & I AMT: 11,547.56
UPB AMT: 1,650,783.97
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 232
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031762982 MORTGAGORS: BOWEN MICHAEL
BOWEN LINDA
REGION CODE ADDRESS : 107 BROOKWOOD DRIVE
01 CITY : SANTA CRUZ
STATE/ZIP : CA 95065
MORTGAGE AMOUNT : 342,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 342,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,423.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 78.17300
----------------------------------------------------------------
0 0031763089 MORTGAGORS: RATY ANSSI
REGION CODE ADDRESS : 405 LAFAYETTE PARK
01 CITY : SOUTHLAKE
STATE/ZIP : TX 76092
MORTGAGE AMOUNT : 378,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 378,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,483.20 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031763121 MORTGAGORS: LAMAGNA LORI
ZARATE GUSTAVO
REGION CODE ADDRESS : 1954 MAGELLAN DRIVE
01 CITY : OAKLAND
STATE/ZIP : CA 94611
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,789.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031763618 MORTGAGORS: BLACKBURN JAMES
BLACKBURN SUSAN
REGION CODE ADDRESS : 33112 SEAWATCH
01 CITY : DANA POINT
STATE/ZIP : CA 92629
MORTGAGE AMOUNT : 332,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 332,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,181.01 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031763626 MORTGAGORS: SCHREIBER NANCY
REGION CODE ADDRESS : 2227 21ST STREET
01 CITY : SANTA MONICA
STATE/ZIP : CA 90405
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,756.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,210.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 59.81300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,628,400.00
P & I AMT: 11,087.86
UPB AMT: 1,628,156.50
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 233
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031763733 MORTGAGORS: TKALCEVIC NANCY
REGION CODE ADDRESS : 125 MASSOL AVENUE
01 CITY : LOS GATOS
STATE/ZIP : CA 95030
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 500,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,368.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 59.88000
----------------------------------------------------------------
0 0031763774 MORTGAGORS: DUPONT CATHLEEN
REGION CODE ADDRESS : 20011 CROWN REEF LANE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92646
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,643.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031763899 MORTGAGORS: LEUCK STEVEN
LEUCK SUSAN
REGION CODE ADDRESS : 961 BROMMER STREET
01 CITY : SANTA CRUZ
STATE/ZIP : CA 95062
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,783.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 72.43200
----------------------------------------------------------------
0 0031763915 MORTGAGORS: CANDIA MARION
REGION CODE ADDRESS : 342 SOUTH SMOKERIDGE TERRACE
01 CITY : ANAHEIM
STATE/ZIP : CA 92807
MORTGAGE AMOUNT : 273,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,386.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,866.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031763923 MORTGAGORS: HIPPELY KEITH
REGION CODE ADDRESS : 514 HARKNESS STREET
01 CITY : MANHATTAN BEACH
STATE/ZIP : CA 90266
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,782.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,832.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.52000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,557,600.00
P & I AMT: 10,494.44
UPB AMT: 1,557,169.04
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 234
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031763931 MORTGAGORS: PELLE JOHN
PELLE CHRISTINE
REGION CODE ADDRESS : 1925 GILMAN CIRCLE
01 CITY : PLACENTIA
STATE/ZIP : CA 92870
MORTGAGE AMOUNT : 236,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,815.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,609.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031763998 MORTGAGORS: BAUDENDISTEL ALLEN
PHELAN MARY
REGION CODE ADDRESS : 2931 DEVONDALE PLACE
01 CITY : FRONTENAC
STATE/ZIP : MO 63131
MORTGAGE AMOUNT : 399,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 398,696.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,755.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 58.93600
----------------------------------------------------------------
0 0031764004 MORTGAGORS: RIES KEVIN
RIES BARBARA
REGION CODE ADDRESS : 4619 MCDONALD DR OVERLOOK
01 CITY : STILLWATER
STATE/ZIP : MN 55082
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,603.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,469.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 02/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 60.97561
----------------------------------------------------------------
0 0031764012 MORTGAGORS: EIGLES JACK
EIGLES ADRIENNE
REGION CODE ADDRESS : 15331 HIGHCROFT ROAD
01 CITY : CHESTERFIELD
STATE/ZIP : MO 63017
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,703.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,796.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 61.53800
----------------------------------------------------------------
0 0031764020 MORTGAGORS: FRUSH TIMOTHY
FRUSH NALINI
REGION CODE ADDRESS : 39 LIQUIDAMBER COURT
01 CITY : DANVILLE
STATE/ZIP : CA 94506
MORTGAGE AMOUNT : 396,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 396,298.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,739.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 66.10000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,931,600.00
P & I AMT: 13,371.29
UPB AMT: 1,930,117.09
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 235
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031764038 MORTGAGORS: ROGERS GARY
ROGERS CATHY
REGION CODE ADDRESS : 8073 SILVER KING DRIVE
01 CITY : LAS VEGAS
STATE/ZIP : NV 89129
MORTGAGE AMOUNT : 282,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,990.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,973.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 70.55000
----------------------------------------------------------------
0 0031764061 MORTGAGORS: HARTWIG JEFFREY
HARTWIG LAUREL
REGION CODE ADDRESS : 14 MOUNT RAINIER COURT
01 CITY : SAN RAFAEL
STATE/ZIP : CA 94903
MORTGAGE AMOUNT : 273,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,792.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,885.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 58.70900
----------------------------------------------------------------
0 0031764087 MORTGAGORS: ANDERSON KEVIN
ANDERSON CAROL
REGION CODE ADDRESS : 188 CREST VIEW DRIVE
01 CITY : ORINDA
STATE/ZIP : CA 94563
MORTGAGE AMOUNT : 371,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 371,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,594.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 68.70300
----------------------------------------------------------------
0 0031764095 MORTGAGORS: FEUERMAN ERIC
FEUERMAN JONI
REGION CODE ADDRESS : 29666 QUAIL RUN DRIVE
01 CITY : AGOURA HILLS
STATE/ZIP : CA 91301
MORTGAGE AMOUNT : 363,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 362,702.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,415.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 75.62500
----------------------------------------------------------------
0 0031764103 MORTGAGORS: PERKINS JANET
REGION CODE ADDRESS : 408 TOTHERO PLACE
01 CITY : FREMONT
STATE/ZIP : CA 94536
MORTGAGE AMOUNT : 306,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 306,272.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,143.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 67.36200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,595,700.00
P & I AMT: 11,010.95
UPB AMT: 1,594,757.82
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 236
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031764145 MORTGAGORS: NASH SHANNON
MODER MICHELLE
REGION CODE ADDRESS : 4812 RIVER AVENUE
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92663
MORTGAGE AMOUNT : 373,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 373,208.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,547.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031764293 MORTGAGORS: LIN JOHN
LIN JIAN
REGION CODE ADDRESS : 1788 FUMIA COURT
01 CITY : SAN JOSE
STATE/ZIP : CA 95131
MORTGAGE AMOUNT : 333,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 332,940.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,273.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031764319 MORTGAGORS: DEWDNEY NOLAN
ZHENG LILI
REGION CODE ADDRESS : 1770 FUMIA COURT
01 CITY : SAN JOSE
STATE/ZIP : CA 95131
MORTGAGE AMOUNT : 331,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,291.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.97900
----------------------------------------------------------------
0 0031764327 MORTGAGORS: LONG JOSEPH
LONG SHERI
REGION CODE ADDRESS : 13149 MORNING GLORY DRIVE
01 CITY : LAKESIDE
STATE/ZIP : CA 92040
MORTGAGE AMOUNT : 247,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,684.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 85.59100
----------------------------------------------------------------
0 0031764392 MORTGAGORS: GALLI THOMAS
GALLI CYNTHIA
REGION CODE ADDRESS : 3631 N. PEARY STREET
01 CITY : ARLINGTON
STATE/ZIP : VA 22207
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,358.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,694.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.07400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,685,500.00
P & I AMT: 11,492.48
UPB AMT: 1,684,307.03
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 237
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031764947 MORTGAGORS: CLESCERI MICHELLE
REGION CODE ADDRESS : 417 WEST SUNNY HILLS ROAD,
01 CITY : FULLERTON,
STATE/ZIP : CA 92835
MORTGAGE AMOUNT : 306,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 306,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,113.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 68.76400
----------------------------------------------------------------
0 0031764962 MORTGAGORS: STORM CHARLES
REGION CODE ADDRESS : 1005 ROLLING WOODS WAY
01 CITY : CONCORD
STATE/ZIP : CA 94521
MORTGAGE AMOUNT : 343,920.00 OPTION TO CONVERT :
UNPAID BALANCE : 343,651.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,346.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031764988 MORTGAGORS: LEMONT DAVID
LEMONT JAMIE
REGION CODE ADDRESS : 19 HICKORY LANE
01 CITY : BOXFORD
STATE/ZIP : MA 01921
MORTGAGE AMOUNT : 425,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 424,382.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,008.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.88700
----------------------------------------------------------------
0 0031765001 MORTGAGORS: PALOMINO EDUARDO
PALOMINO LETICIA
REGION CODE ADDRESS : 16642 MOUNT DARWIN CIRCLE
01 CITY : FOUNTIAN VALLEY
STATE/ZIP : CA 92708
MORTGAGE AMOUNT : 265,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,302.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,856.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031765043 MORTGAGORS: HEILEMANN MICHAEL
HEILEMANN DANUTA
REGION CODE ADDRESS : 1610 PALISADES DRIVE
01 CITY : PACIFIC PALISADES AREA
STATE/ZIP : CA 90272
MORTGAGE AMOUNT : 298,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,778.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,083.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,638,420.00
P & I AMT: 11,407.82
UPB AMT: 1,637,116.34
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 238
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031765449 MORTGAGORS: PATON DAVID
PATON KIM
REGION CODE ADDRESS : 10002 WALDGROVE PLACE
01 CITY : SAN DIEGO
STATE/ZIP : CA 92131
MORTGAGE AMOUNT : 302,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 301,781.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,137.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.68300
----------------------------------------------------------------
0 0031765472 MORTGAGORS: ANIXTER FREDRICK
ANIXTER SUZANNA
REGION CODE ADDRESS : 413 POCONO MANOR PLACE
01 CITY : SAN RAMON
STATE/ZIP : CA 94583
MORTGAGE AMOUNT : 302,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 302,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,037.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031765597 MORTGAGORS: CLAYTON ROSEMARIE
REGION CODE ADDRESS : 5301 SUMMIT DRIVE
01 CITY : FAIRFAX
STATE/ZIP : VA 22030
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,781.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,910.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.54500
----------------------------------------------------------------
0 0031765605 MORTGAGORS: STANGEL CHRISTOPHER
STANGEL BEBORAH
REGION CODE ADDRESS : 119 GLEN COURT
01 CITY : DANVILLE
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 421,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 421,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,838.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0031765621 MORTGAGORS: SELLERS ROBERT
SELLERS THERESA
REGION CODE ADDRESS : 5212 ROKEFIELD WAY
01 CITY : NORCROSS
STATE/ZIP : GA 30092
MORTGAGE AMOUNT : 255,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,700.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 75.17600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,561,300.00
P & I AMT: 10,623.85
UPB AMT: 1,560,862.99
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 239
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031765712 MORTGAGORS: HESS BRADLEY
KLABUNDE CARRIE
REGION CODE ADDRESS : 301 SILVER KING LANE
01 CITY : ROCKVILLE
STATE/ZIP : MD 20850
MORTGAGE AMOUNT : 314,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 313,783.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,091.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.99500
----------------------------------------------------------------
0 0031765746 MORTGAGORS: FULLER THOMAS
FULLER KATHRYN
REGION CODE ADDRESS : 8753 CENTER ROAD
01 CITY : SPRINGFIELD
STATE/ZIP : VA 22152
MORTGAGE AMOUNT : 388,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 388,134.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,619.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99800
----------------------------------------------------------------
0 0031765787 MORTGAGORS: REED JAMES
REED CHONG
REGION CODE ADDRESS : 6291 RED FOX ESTATES COURT
01 CITY : SPRINGFIELD
STATE/ZIP : VA 22152
MORTGAGE AMOUNT : 312,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 312,287.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,053.24 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.99100
----------------------------------------------------------------
0 0031765795 MORTGAGORS: SYRKES DELENCY
REGION CODE ADDRESS : 7201 COURTHOUSE ROAD
01 CITY : SPOTSYLVANIA
STATE/ZIP : VA 22553
MORTGAGE AMOUNT : 242,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,796.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,589.77 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 59.02439
----------------------------------------------------------------
0 0031765860 MORTGAGORS: MASON WILLY
OTVOS KIMBERLY
REGION CODE ADDRESS : 5942 CROSSMONT CIRCLE
01 CITY : SAN JOSE
STATE/ZIP : CA 95120
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,687.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,728.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.66900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,657,700.00
P & I AMT: 11,082.53
UPB AMT: 1,655,689.50
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 240
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031765894 MORTGAGORS: KERMODE ROBERT
KERMODE MARY
REGION CODE ADDRESS : 172 HOLIDAY WAY
01 CITY : MAMMOTH LAKES
STATE/ZIP : CA 93546
MORTGAGE AMOUNT : 298,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,767.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,032.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 66.22200
----------------------------------------------------------------
0 0031765910 MORTGAGORS: WOFFORD JOSEPH
WOFFORD MERCEDES
REGION CODE ADDRESS : 3872 FORESTWOOD DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95121
MORTGAGE AMOUNT : 263,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,603.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,908.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031767049 MORTGAGORS: JOHNSON CURTIS
CURTIS CAROL
REGION CODE ADDRESS : 17342 SERENE DRIVE
01 CITY : MORGAN HILL
STATE/ZIP : CA 95037
MORTGAGE AMOUNT : 391,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 391,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,635.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031767122 MORTGAGORS: ADAMS RICHARD
ADAMS KRISTINE
REGION CODE ADDRESS : 4483 THICKET TRACE
01 CITY : ZIONSVILLE
STATE/ZIP : IN 46077
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,542.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,072.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 66.66600
----------------------------------------------------------------
0 0031767130 MORTGAGORS: MOORE WILLIAM
MOORE CAROLYN
REGION CODE ADDRESS : 11700 FALL CREEK RD
01 CITY : INDIANAPOLIS
STATE/ZIP : IN 46256
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,271.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,272.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 54.16600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,577,350.00
P & I AMT: 10,920.98
UPB AMT: 1,575,384.57
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 241
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031767148 MORTGAGORS: REGINALD JOHN
REGINALD CAROL
REGION CODE ADDRESS : SUBLOT 140 BERWIN DRIVE
01 CITY : STOW
STATE/ZIP : OH 44224
MORTGAGE AMOUNT : 298,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,987.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,163.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 89.90600
----------------------------------------------------------------
0 0031767155 MORTGAGORS: ROWLAND KEITH
ROWLAND SHARI
REGION CODE ADDRESS : 906 LOGGERS CIRCLE
01 CITY : ROCHESTER
STATE/ZIP : MI 48307
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,431.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,840.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 78.35800
----------------------------------------------------------------
0 0031767189 MORTGAGORS: WOODFORD TERRY
WOODFORD ELLEN
REGION CODE ADDRESS : 720 GREENLEAF VILLAGE DRIVE
01 CITY : SPRINGBORO
STATE/ZIP : OH 45066
MORTGAGE AMOUNT : 293,730.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,937.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,003.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 88.20700
----------------------------------------------------------------
0 0031767197 MORTGAGORS: GARMAN JON
GARMAN BARBARA
REGION CODE ADDRESS : 300 CANDLEBERRY ROAD
01 CITY : WALNUT CREEK
STATE/ZIP : CA 94598
MORTGAGE AMOUNT : 279,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,792.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,950.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 77.50000
----------------------------------------------------------------
0 0031767239 MORTGAGORS: ARMSTRONG L.
ARMSTRONG JANICE
REGION CODE ADDRESS : 6543 GRANTS WALK LANE
01 CITY : DAYTON
STATE/ZIP : OH 45459
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 298,502.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,995.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 03/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 59.40500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,431,130.00
P & I AMT: 9,954.35
UPB AMT: 1,427,653.11
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 242
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031767247 MORTGAGORS: YOST JERALD
YOST MARGARET
REGION CODE ADDRESS : 520 NORTH STATE ROUTE 201
01 CITY : CASSTOWN
STATE/ZIP : OH 45312
MORTGAGE AMOUNT : 244,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,609.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,669.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 85.00000
----------------------------------------------------------------
0 0031767270 MORTGAGORS: FARWELL LEN
FARWELL KAREN
REGION CODE ADDRESS : 3076 BRINISEY CIRCLE
01 CITY : BELLBROOK
STATE/ZIP : OH 45305
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,382.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,896.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 03/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 56.21300
----------------------------------------------------------------
0 0031767288 MORTGAGORS: MARTIN WILLIAM
MARTIN NORINE
REGION CODE ADDRESS : 12506 GLENDURGAN DRIVE
01 CITY : CARMEL
STATE/ZIP : IN 46032
MORTGAGE AMOUNT : 308,886.00 OPTION TO CONVERT :
UNPAID BALANCE : 308,650.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,133.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 92.20400
----------------------------------------------------------------
0 0031767304 MORTGAGORS: ROBINSON ROOSEVELT
ROBINSON MICKIE
REGION CODE ADDRESS : 4300 SOUTHERN BLVD
01 CITY : KETTERING
STATE/ZIP : OH 45429
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,519.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,175.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0031767338 MORTGAGORS: DUFFY RICHARD
DUFFY PAMELA
REGION CODE ADDRESS : 1717 FRANKLIN ST SE
01 CITY : E GRAND RAPIDS
STATE/ZIP : MI 49506
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,439.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,748.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 68.77500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,403,686.00
P & I AMT: 9,623.16
UPB AMT: 1,400,601.70
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 243
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031767353 MORTGAGORS: MILLER CHRISTOPHER
MILLER CHERYLL
REGION CODE ADDRESS : 594 MEADOWRIDGE WAY
01 CITY : HUDSON
STATE/ZIP : OH 44236
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,737.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,049.62 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 89.14200
----------------------------------------------------------------
0 0031767387 MORTGAGORS: KEEP DAVID
DOWNES KATHARINE
REGION CODE ADDRESS : 2427 ROXBORO
01 CITY : CLEVELAND HTS
STATE/ZIP : OH 44106
MORTGAGE AMOUNT : 311,125.00 OPTION TO CONVERT :
UNPAID BALANCE : 310,684.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,228.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031767460 MORTGAGORS: GARNER HILTON
REGION CODE ADDRESS : 4236 LAKE GROVE ROAD
01 CITY : PETOSKEY
STATE/ZIP : MI 49770
MORTGAGE AMOUNT : 403,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 400,646.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,681.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 02/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 67.16600
----------------------------------------------------------------
0 0031767478 MORTGAGORS: ADAMS MARK
ADAMS RITA
REGION CODE ADDRESS : 6589 STILLCREST WAY
01 CITY : DAYTON
STATE/ZIP : OH 45414
MORTGAGE AMOUNT : 294,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 293,279.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,960.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 03/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031767502 MORTGAGORS: CZAJA MICHAEL
CZAJA KELLIE
REGION CODE ADDRESS : 9805 LOST LAKE TRAIL
01 CITY : AUBURN
STATE/ZIP : OH 44023
MORTGAGE AMOUNT : 259,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,792.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,744.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 73.16300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,579,875.00
P & I AMT: 10,665.65
UPB AMT: 1,575,141.02
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 244
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031767676 MORTGAGORS: ALIRES RICHARD
ALIRES BILLYE
REGION CODE ADDRESS : 41921 SADDLEBROOK PLACE
01 CITY : LEESBURG
STATE/ZIP : VA 20716
MORTGAGE AMOUNT : 357,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 355,981.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,500.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 03/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.99200
----------------------------------------------------------------
0 0031767825 MORTGAGORS: GEOCARIS THOMAS
REGION CODE ADDRESS : 1764 FUMIA COURT
01 CITY : SAN JOSE
STATE/ZIP : CA 95131
MORTGAGE AMOUNT : 359,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,950.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,425.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99100
----------------------------------------------------------------
0 0031767833 MORTGAGORS: MIGNOSA GEORGE
WILLIAMS-MIGNOSA NANCY
REGION CODE ADDRESS : 5513 MILLIGAN DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95124
MORTGAGE AMOUNT : 259,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,807.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,810.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 68.15700
----------------------------------------------------------------
0 0031767981 MORTGAGORS: KALLISH WILLIAM
KALLISH GRACE
REGION CODE ADDRESS : 2618 SUNNYSIDE RIDGE ROAD
01 CITY : RANCHO PALOS VERDES
STATE/ZIP : CA 90275
MORTGAGE AMOUNT : 504,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 503,606.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,438.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031768062 MORTGAGORS: THURMAN CHRISTOPHER
THURMAN DIANE
REGION CODE ADDRESS : 1906 MATZEN RANCH CIRCLE
01 CITY : PETALUMA
STATE/ZIP : CA 94954
MORTGAGE AMOUNT : 344,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 344,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,231.18 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,824,550.00
P & I AMT: 12,405.78
UPB AMT: 1,822,346.37
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 245
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031768070 MORTGAGORS: LIMJOCO VICTOR
LIMJOCO CYNTHIA
REGION CODE ADDRESS : 2152 BOWERS AVENUE
01 CITY : SANTA CLARA
STATE/ZIP : CA 95051
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,910.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031768518 MORTGAGORS: HUETTEMAN LAURENCE
HUETTEMAN NANCY
REGION CODE ADDRESS : 3525 NORTH OAKLY AVENUE
01 CITY : CHICAGO
STATE/ZIP : IL 60618
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,238.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,377.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031768534 MORTGAGORS: MCQUALITY JAMES
MCQUALITY DAWN
REGION CODE ADDRESS : 1705 FOX MEAD CIRCLE
01 CITY : MONTGOMERY
STATE/ZIP : IL 60538
MORTGAGE AMOUNT : 239,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,850.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,653.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.66100
----------------------------------------------------------------
0 0031768542 MORTGAGORS: MICHAELS DANIEL
MICHAELS KRISTIN
REGION CODE ADDRESS : 41 SOUTH BRUNER
01 CITY : HINSDALE
STATE/ZIP : IL 60521
MORTGAGE AMOUNT : 478,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 477,328.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,345.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031768567 MORTGAGORS: CARTER DIANE
CARTER KEITH
REGION CODE ADDRESS : 4471 BORREGO SPRINGS WAY
01 CITY : LAS VEGAS
STATE/ZIP : NV 89129
MORTGAGE AMOUNT : 264,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,826.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 70.53300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,602,300.00
P & I AMT: 11,112.79
UPB AMT: 1,599,916.58
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 246
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031768575 MORTGAGORS: VOGEL WILLIAM
VOGEL SUSANNE
REGION CODE ADDRESS : 207 SCOTTSWOOD ROAD
01 CITY : RIVERSIDE
STATE/ZIP : IL 60546
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,364.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,841.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.38600
----------------------------------------------------------------
0 0031768591 MORTGAGORS: MANGAN MOLLY
REGION CODE ADDRESS : 1818 WEST LELAND AVENUE
01 CITY : CHICAGO
STATE/ZIP : IL 60640
MORTGAGE AMOUNT : 251,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,589.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,712.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.96400
----------------------------------------------------------------
0 0031768609 MORTGAGORS: BERTHRONG E.
REGION CODE ADDRESS : 172 GOLDEN HIND PASSAGE
01 CITY : CORTE MADERA
STATE/ZIP : CA 94925
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,052.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 69.87900
----------------------------------------------------------------
0 0031768617 MORTGAGORS: ADAMS TODD
ADAMS CAROL
REGION CODE ADDRESS : 2817 ROYAL ASHDOWN COURT
01 CITY : ST CHARLES
STATE/ZIP : IL 60174
MORTGAGE AMOUNT : 273,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,137.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,867.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.98600
----------------------------------------------------------------
0 0031768625 MORTGAGORS: CARPENTER STUART
CARPENTER JANET
REGION CODE ADDRESS : 2225 BIG WOODS DRIVE
01 CITY : BATAVIA
STATE/ZIP : IL 60510
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,577.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,841.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 88.52400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,354,700.00
P & I AMT: 9,315.75
UPB AMT: 1,351,668.83
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 247
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031768641 MORTGAGORS: MURPHY DAVID
MURPHY VICTORIA
REGION CODE ADDRESS : 2836 CANTERBURY DRIVE
01 CITY : NORTHBROOK
STATE/ZIP : IL 60062
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,569.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,875.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 67.90100
----------------------------------------------------------------
0 0031768849 MORTGAGORS: JONES ROBERT
JONES BEVERLY
REGION CODE ADDRESS : 2260 THISTLEPATCH ROAD
01 CITY : NEWCASTLE
STATE/ZIP : CA 95658
MORTGAGE AMOUNT : 394,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 393,721.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,822.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 77.25400
----------------------------------------------------------------
0 0031768930 MORTGAGORS: TURK RAYMOND
TURK KATHY
REGION CODE ADDRESS : 7710 BRAYTON TRAIL
01 CITY : BAINBRIDGE TOWNSHIP
STATE/ZIP : OH 44023
MORTGAGE AMOUNT : 386,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 385,425.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,698.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031768963 MORTGAGORS: HART JOHN
HART SANDRA
REGION CODE ADDRESS : 1570 ADELAIDE COURT
01 CITY : WESTLAKE
STATE/ZIP : OH 44145
MORTGAGE AMOUNT : 540,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 538,728.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,683.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031769037 MORTGAGORS: BRANDT WILLIAM
REGION CODE ADDRESS : 2855 S. 875TH EAST
01 CITY : ZIONSVILLE
STATE/ZIP : IN 46077
MORTGAGE AMOUNT : 450,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 449,346.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,185.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,045,000.00
P & I AMT: 14,266.46
UPB AMT: 2,041,791.92
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 248
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031769045 MORTGAGORS: BROSKO JOHN
BROSKO MARION
REGION CODE ADDRESS : S/L 18 PEPPERMILL CHASE
01 CITY : BAINBRIDGE TOWNSHIP
STATE/ZIP : OH 44023
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,517.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,878.17 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 71.42800
----------------------------------------------------------------
0 0031769086 MORTGAGORS: DEMPSEY CHRISTOPHER
DEMPSEY LISA
REGION CODE ADDRESS : 2234 GEORGIA DRIVE
01 CITY : WESTLAKE
STATE/ZIP : OH 44145
MORTGAGE AMOUNT : 256,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,028.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,706.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.99000
----------------------------------------------------------------
0 0031769128 MORTGAGORS: NOBLE MARK
NOBLE LAURA
REGION CODE ADDRESS : 31141 HUNTINGTON WOODS PARKWAY
01 CITY : BAY VILLAGE
STATE/ZIP : OH 44140
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,628.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,496.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031769151 MORTGAGORS: KOOS TIMOTHY
REGION CODE ADDRESS : 18106 CLIFTON RD
01 CITY : LAKEWOOD
STATE/ZIP : OH 44107
MORTGAGE AMOUNT : 247,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,418.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,684.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031769169 MORTGAGORS: BOLAND RICHARD
BOLAND JOANN
REGION CODE ADDRESS : 11435 SADDLEWOOD LANE
01 CITY : CONCORD
STATE/ZIP : OH 44077
MORTGAGE AMOUNT : 410,576.00 OPTION TO CONVERT :
UNPAID BALANCE : 409,864.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,870.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,664,026.00
P & I AMT: 11,636.21
UPB AMT: 1,661,457.60
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 249
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031769201 MORTGAGORS: COREY STEVEN
COREY KATHRYN
REGION CODE ADDRESS : 1437 COLA DRIVE
01 CITY : MCLEAN
STATE/ZIP : VA 22101
MORTGAGE AMOUNT : 262,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,351.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,743.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031769227 MORTGAGORS: KEMP CARL
KEMP MARTHA
REGION CODE ADDRESS : 8100 BANNERWOOD COURT
01 CITY : ANNANDALE
STATE/ZIP : VA 22003
MORTGAGE AMOUNT : 341,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 341,124.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,244.73 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.99600
----------------------------------------------------------------
0 0031769292 MORTGAGORS: MILBRANDT MICHAEL
MILBRANDT TAYLOR
REGION CODE ADDRESS : 6417 WOODSIDE VIEW DRIVE
01 CITY : DUNKIRK
STATE/ZIP : MD 20754
MORTGAGE AMOUNT : 235,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,402.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,549.04 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.93200
----------------------------------------------------------------
0 0031769482 MORTGAGORS: CORBIN BRET
CORBIN JULIE
REGION CODE ADDRESS : 2137 SUNSPRITE DRIVE
01 CITY : UNION CITY
STATE/ZIP : CA 94587
MORTGAGE AMOUNT : 302,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 302,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,088.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.98000
----------------------------------------------------------------
0 0031769516 MORTGAGORS: YEE ALBERT
YEE ANGELA
REGION CODE ADDRESS : 2140 SUNSPRITE DRIVE
01 CITY : UNION CITY
STATE/ZIP : CA 94587
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,747.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,970.79 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 74.21800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,441,900.00
P & I AMT: 9,596.27
UPB AMT: 1,440,026.65
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 250
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031769656 MORTGAGORS: LEVIN RICHARD
LEVIN TANYA
REGION CODE ADDRESS : 587 CUMBERLAND
01 CITY : MILFORD
STATE/ZIP : MI 48381
MORTGAGE AMOUNT : 345,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 344,932.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,416.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031769672 MORTGAGORS: THOMPSON JAMES
THOMPSON SUZANNE
REGION CODE ADDRESS : 4110 EAST JORDAN AVENUE
01 CITY : ORANGE
STATE/ZIP : CA 92869
MORTGAGE AMOUNT : 242,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,250.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,693.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031770514 MORTGAGORS: GREGUSKA DANIEL
GREGUSKA LISA
REGION CODE ADDRESS : 7612 NORTH MOCKINGBIRD LANE
01 CITY : PARADISE VALLEY
STATE/ZIP : AZ 85253
MORTGAGE AMOUNT : 564,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 563,160.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,943.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 40.28500
----------------------------------------------------------------
0 0031770522 MORTGAGORS: BRENNER CHRISTOPHER
BRENNER BRANKA
REGION CODE ADDRESS : 712 S ASHLAND
01 CITY : LA GRANGE
STATE/ZIP : IL 60525
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,789.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,985.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031770589 MORTGAGORS: COLUZZI PAUL
REGION CODE ADDRESS : 31 TRAILWOOD
01 CITY : IRVINE
STATE/ZIP : CA 92620
MORTGAGE AMOUNT : 456,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 456,134.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,075.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,892,350.00
P & I AMT: 13,115.21
UPB AMT: 1,890,266.60
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 251
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031770613 MORTGAGORS: JACKSON TARYLL
REGION CODE ADDRESS : 21645 MEDINA ESTATES DRIVE
01 CITY : (WOODLAND HILLS AREA), LO
STATE/ZIP : CA 91364
MORTGAGE AMOUNT : 393,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 393,000.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,716.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031770704 MORTGAGORS: AMICO GARY
HEALY SARAH
REGION CODE ADDRESS : 3114 DONA ELENA PLACE
01 CITY : (STUDIO CITY AREA), LOS A
STATE/ZIP : CA 91604
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,619.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,453.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031770712 MORTGAGORS: STILL ROGER
CONTRERAS-STILL FELICIDAD
REGION CODE ADDRESS : 2926 EAST CHEVY CHASE DRIVE
01 CITY : GLENDALE
STATE/ZIP : CA 91206
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,772.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,991.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031770746 MORTGAGORS: AVOLIO RANDAL
AVOLIO SUSAN
REGION CODE ADDRESS : 2740 BAGLEY AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90034
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 328,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031770795 MORTGAGORS: REYNER WILLIAM
REYNER DEBORAH
REGION CODE ADDRESS : 2148 SHEPPERD ROAD
01 CITY : MONKTON
STATE/ZIP : MD 21111
MORTGAGE AMOUNT : 262,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,099.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,813.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,775,800.00
P & I AMT: 12,212.34
UPB AMT: 1,774,491.75
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 252
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031770829 MORTGAGORS: MOON JUSTIN
MOON SANDRA
REGION CODE ADDRESS : 1090 VIOLET WAY
01 CITY : GILROY
STATE/ZIP : CA 95020
MORTGAGE AMOUNT : 259,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,597.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,772.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031770894 MORTGAGORS: PARRIS SCOTT
PARRIS JUDY
REGION CODE ADDRESS : 353 RED MAPLE DRIVE
01 CITY : DANVILLE
STATE/ZIP : CA 94506
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 380,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,722.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 56.29600
----------------------------------------------------------------
0 0031771082 MORTGAGORS: LIM JOHNSON
REGION CODE ADDRESS : 1551 MISSION SPRINGS CIR.
01 CITY : SAN JOSE
STATE/ZIP : CA 95131
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,762.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,321.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031771280 MORTGAGORS: JACK HARRISON
JACK CAROL
REGION CODE ADDRESS : 101 MONTE VISTA DRIVE
01 CITY : WOODLAND
STATE/ZIP : CA 95695
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031771298 MORTGAGORS: NORMANDIN JAMES
NORMANDIN MARGARET
REGION CODE ADDRESS : 478 ESTHER STREET
01 CITY : COSTA MESA
STATE/ZIP : CA 92627
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,852.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 67.07300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,542,800.00
P & I AMT: 10,766.61
UPB AMT: 1,542,359.93
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 253
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031771488 MORTGAGORS: WOBLESKY ADAM
WOBLESKY KAREN
REGION CODE ADDRESS : 1255 HIGH STREET
01 CITY : SANTA CRUZ
STATE/ZIP : CA 95060
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 288,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,964.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031772536 MORTGAGORS: YOUNG FRANK
YOUNG NANCY
REGION CODE ADDRESS : 3951 MYRA AVENUE
01 CITY : LOS ALAMITOS
STATE/ZIP : CA 90720
MORTGAGE AMOUNT : 318,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 318,513.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,228.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031772551 MORTGAGORS: ROMELT STEVEN
REGION CODE ADDRESS : 1554-1556 POWELL STREET
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94133
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,719.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,455.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 76.59500
----------------------------------------------------------------
0 0031772577 MORTGAGORS: OH DON
OH MYUNG
REGION CODE ADDRESS : 1 OLYMPUS
01 CITY : IRVINE
STATE/ZIP : CA 92612
MORTGAGE AMOUNT : 590,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 590,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,024.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 62.76500
----------------------------------------------------------------
0 0031772585 MORTGAGORS: JACKNOW STEVE
JACKNOW VERONICA
REGION CODE ADDRESS : 2070 BLACKWOOD DRIVE
01 CITY : WALNUT CREEK
STATE/ZIP : CA 94596
MORTGAGE AMOUNT : 405,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 404,699.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,831.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.70000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,961,750.00
P & I AMT: 13,505.93
UPB AMT: 1,960,932.03
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 254
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031772601 MORTGAGORS: HICKS JEFFREY
HICKS DYNA
REGION CODE ADDRESS : 4825 REDWOOD RETREAT ROAD
01 CITY : GILROY
STATE/ZIP : CA 95020
MORTGAGE AMOUNT : 435,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 435,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,041.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.38900
----------------------------------------------------------------
0 0031772718 MORTGAGORS: GERGEL DANIEL
KELLER-GERGEL CONNIE
REGION CODE ADDRESS : 1621 RIDGEWOOD ROAD
01 CITY : WADSWORTH
STATE/ZIP : OH 44281
MORTGAGE AMOUNT : 495,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 494,632.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,461.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 73.88000
----------------------------------------------------------------
0 0031772742 MORTGAGORS: SLATTERY MARY-LYNN
ROWLAND NANCY
REGION CODE ADDRESS : 12055 BROADWAY TERRACE
01 CITY : OAKLAND
STATE/ZIP : CA 94611
MORTGAGE AMOUNT : 432,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 432,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,947.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031772759 MORTGAGORS: HUYNH THANH
HUYNH MY CHAU
REGION CODE ADDRESS : 2127-2129 JUDAH STREET
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94116
MORTGAGE AMOUNT : 384,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 384,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,587.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031772791 MORTGAGORS: BJURSTEN PETER
BJURSTEN REBECCA
REGION CODE ADDRESS : 54 SONORA WAY
01 CITY : CORTE MADERA
STATE/ZIP : CA 94925
MORTGAGE AMOUNT : 366,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 366,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,559.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,112,000.00
P & I AMT: 14,595.92
UPB AMT: 2,111,632.63
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 255
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031772817 MORTGAGORS: STEARNS LELAND
DORENG-STEARNS ANNETTE
REGION CODE ADDRESS : 592 BLUEBIRD CANYON DRIVE
01 CITY : LAGUNA BEACH
STATE/ZIP : CA 92651
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 340,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,319.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031772890 MORTGAGORS: BRUGGE PARKER
BRUGGE SILVIA
REGION CODE ADDRESS : 10316 DUNN MEADOW ROAD
01 CITY : VIENNA
STATE/ZIP : VA 22182
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,768.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,181.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031772924 MORTGAGORS: NEWMAN LEBO
NEWMAN MERRILL
REGION CODE ADDRESS : 2540 BENNETT RIDGE ROAD
01 CITY : SANTA ROSA
STATE/ZIP : CA 95404
MORTGAGE AMOUNT : 435,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 435,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,008.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031772965 MORTGAGORS: JONES RONALD
GRIJALVA ARMANDO
REGION CODE ADDRESS : 1320 NORTH PALM STREET
01 CITY : LA HABRA
STATE/ZIP : CA 90631
MORTGAGE AMOUNT : 289,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,976.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031772999 MORTGAGORS: KAWANAMI MARK
KAWANAMI GINGER
REGION CODE ADDRESS : 27 TRAILWOOD
01 CITY : IRVINE
STATE/ZIP : CA 92620
MORTGAGE AMOUNT : 420,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 419,922.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,866.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,797,650.00
P & I AMT: 12,353.33
UPB AMT: 1,797,090.61
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 256
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031773013 MORTGAGORS: BANDY AMY
BANDY EUGENE
REGION CODE ADDRESS : 29 TRAILWOOD
01 CITY : IRVINE
STATE/ZIP : CA 92620
MORTGAGE AMOUNT : 422,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 422,262.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,847.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99200
----------------------------------------------------------------
0 0031773054 MORTGAGORS: FERRANTE PETER
FERRANTE LOUISE
REGION CODE ADDRESS : 923 SNOW DRIVE
01 CITY : MARTINEZ
STATE/ZIP : CA 94553
MORTGAGE AMOUNT : 392,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 392,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,707.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031773393 MORTGAGORS: BEAL DAVID
BEAL CHERYL
REGION CODE ADDRESS : 101 BROWNING STREET
01 CITY : UPLAND
STATE/ZIP : CA 91784
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,741.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,348.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031773419 MORTGAGORS: ZWAHLEN DONALD
ZWAHLEN GWENYTH
REGION CODE ADDRESS : 572 GRANITE HILLS STREET
01 CITY : SIMI VALLEY
STATE/ZIP : CA 93065
MORTGAGE AMOUNT : 303,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,950.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,230.28 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
0 0031774557 MORTGAGORS: BRODSKY BART
GEIS JANET
REGION CODE ADDRESS : 60 ARLINGTON COURT
01 CITY : KENSINGTON
STATE/ZIP : CA 94707
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,782.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,123.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,758,550.00
P & I AMT: 12,256.55
UPB AMT: 1,757,736.20
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 257
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031774698 MORTGAGORS: OWENS MICHAEL
OWENS DEBORAH
REGION CODE ADDRESS : 98 WEST BOULDER CREEK ROAD;
01 CITY : SIMI VALLEY,
STATE/ZIP : CA 93065
MORTGAGE AMOUNT : 300,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,103.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,998.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.98900
----------------------------------------------------------------
0 0031774730 MORTGAGORS: JOHANSSON BENGT
JOHANSSON MONICA
REGION CODE ADDRESS : 7 ALEJO
01 CITY : IRVINE
STATE/ZIP : CA 92612
MORTGAGE AMOUNT : 298,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 298,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,013.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031774920 MORTGAGORS: FLOM GERALD
FLOM SYBIL
REGION CODE ADDRESS : 1047 EAST OCEAN AVENUE
01 CITY : SEAL BEACH
STATE/ZIP : CA 90740
MORTGAGE AMOUNT : 323,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 323,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,234.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 76.11700
----------------------------------------------------------------
0 0031776255 MORTGAGORS: GIFFIN PHILIP
GIFFIN KAREN
REGION CODE ADDRESS : 507 VIA DE LA PAZ
01 CITY : PACIFIC PALISADES
STATE/ZIP : CA 90272
MORTGAGE AMOUNT : 494,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 494,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,328.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 55.88200
----------------------------------------------------------------
0 0031776297 MORTGAGORS: TYSON NORA
TYSON WAYNE
REGION CODE ADDRESS : 2 CHANTERAINE CLOSE
01 CITY : WILLIAMSBURG
STATE/ZIP : VA 23185
MORTGAGE AMOUNT : 251,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,756.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,667,850.00
P & I AMT: 11,330.26
UPB AMT: 1,667,603.80
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 258
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031776339 MORTGAGORS: JACOBS MARK
JACOBS LAURI
REGION CODE ADDRESS : 554 GRANITE HILLS STREET
01 CITY : SIMI VALLEY
STATE/ZIP : CA 93065
MORTGAGE AMOUNT : 290,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,932.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.98300
----------------------------------------------------------------
0 0031776362 MORTGAGORS: LARIOS DANIEL
LARIOS DEBRA
REGION CODE ADDRESS : 2461 WEST MENLO AVENUE
01 CITY : FRESNO
STATE/ZIP : CA 93711
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,691.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031776438 MORTGAGORS: ASAY BRIAN
ASAY MARIA
REGION CODE ADDRESS : 31037 6TH PLACE SOUTHWEST
01 CITY : FEDERAL WAY
STATE/ZIP : WA 98023
MORTGAGE AMOUNT : 249,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,450.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,680.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 94.99200
----------------------------------------------------------------
0 0031776982 MORTGAGORS: STUCKER CHARLES
STUCKER SHERRY
REGION CODE ADDRESS : 20411 S.W. CYPRESS STREET
01 CITY : NEWPORT BEACH (AREA)
STATE/ZIP : CA 92660
MORTGAGE AMOUNT : 248,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,674.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0031777675 MORTGAGORS: HYATT KENNETH
HYATT SHIRLEY
REGION CODE ADDRESS : 817 HAUSER BOULEVARD
01 CITY : LOS ANGELES
STATE/ZIP : CA 90036
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,762.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,288,350.00
P & I AMT: 8,740.65
UPB AMT: 1,288,350.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 259
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031778301 MORTGAGORS: ZUHORSKI JEAN
REGION CODE ADDRESS : 9643 DALE AVENUE
01 CITY : SHADOW HILLS
STATE/ZIP : CA 91040
MORTGAGE AMOUNT : 261,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,065.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,871.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031778335 MORTGAGORS: DRIGGERS MICHAEL
DRIGGERS HENDRIKA
REGION CODE ADDRESS : 12002 OLYMPIC CLUB DRIVE
01 CITY : CHARLOTTE
STATE/ZIP : NC 28277
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,768.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,181.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 61.17600
----------------------------------------------------------------
0 0031778343 MORTGAGORS: ZUHORSKI PAUL
REGION CODE ADDRESS : 303 AUBURN AVENUE
01 CITY : SANTA CRUZ
STATE/ZIP : CA 95060
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,799.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,887.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031778376 MORTGAGORS: TUBACH DAVID
TUBACH DONNA
REGION CODE ADDRESS : 5300 WINFIELD ROAD
01 CITY : FAIRFAX
STATE/ZIP : VA 22030
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,740.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,447.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 51.47000
----------------------------------------------------------------
0 0031778434 MORTGAGORS: JUNCKER CARL
JUNCKER DEBORAH
REGION CODE ADDRESS : 11087 E DESERT VISTA DRIVE
01 CITY : SCOTTSDALE
STATE/ZIP : AZ 85255
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,777.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 69.48400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,493,250.00
P & I AMT: 10,485.97
UPB AMT: 1,492,151.27
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 260
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031778483 MORTGAGORS: PEREIRA JEFFREY
JONCA-PEREIRA PATRICIA
REGION CODE ADDRESS : 2333 NORTH LINWOOD STREET
01 CITY : SANTA ANA
STATE/ZIP : CA 92705
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,678.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031778939 MORTGAGORS: MAGPANTAY ARISTEDES
MAGPANTAY DOLORES
REGION CODE ADDRESS : 20100 PINGREE WAY
01 CITY : YORBA LINDA
STATE/ZIP : CA 92887
MORTGAGE AMOUNT : 254,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,734.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.93700
----------------------------------------------------------------
0 0031778947 MORTGAGORS: MCGEE MICHAEL
MCGEE JOHN
REGION CODE ADDRESS : 121&123 SANTA ANA AVENUE
01 CITY : LONG BEACH
STATE/ZIP : CA 90803
MORTGAGE AMOUNT : 330,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 330,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,307.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.51800
----------------------------------------------------------------
0 0031779077 MORTGAGORS: NGUYEN HOWARD
VU NGUYEN
REGION CODE ADDRESS : 1752 FUMIA COURT
01 CITY : SAN JOSE
STATE/ZIP : CA 95131
MORTGAGE AMOUNT : 347,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 347,550.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,400.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.99200
----------------------------------------------------------------
0 0031779101 MORTGAGORS: PUJJI MANDEEPAK
PUJJI MANJIT
REGION CODE ADDRESS : 1746 FUMIA COURT
01 CITY : SAN JOSE
STATE/ZIP : CA 95131
MORTGAGE AMOUNT : 314,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,173.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.97700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,486,500.00
P & I AMT: 10,293.98
UPB AMT: 1,486,500.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 261
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031780174 MORTGAGORS: BARTON ROBERT
BARTON TERRY
REGION CODE ADDRESS : 1028 TOWLSTON RD
01 CITY : MCLEAN
STATE/ZIP : VA 22102
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,750.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,022.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 78.96100
----------------------------------------------------------------
0 0031780182 MORTGAGORS: MENDOZA GEORGE
MENDOZA JO MARIE
REGION CODE ADDRESS : 122 BISCAY BAY
01 CITY : ALAMEDA
STATE/ZIP : CA 94502
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,793.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,091.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031781818 MORTGAGORS: TAGHIOFF MOSES
TAGHIOFF NAFISA
REGION CODE ADDRESS : 12338 CANTURA ST
01 CITY : STUDIO CITY
STATE/ZIP : CA 91604
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,969.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 74.74700
----------------------------------------------------------------
0 0031781966 MORTGAGORS: YOURDESKY DAVID
MARTIN VIRGINIA
REGION CODE ADDRESS : 678 BAUER PLACE
01 CITY : VISTA
STATE/ZIP : CA 92083
MORTGAGE AMOUNT : 242,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,070.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,693.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031782014 MORTGAGORS: HALTHORE MUKUND
HALTHORE MALA
REGION CODE ADDRESS : 10701 LIMERICK AVE
01 CITY : LOS ANGELES
STATE/ZIP : CA 91311
MORTGAGE AMOUNT : 326,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 326,045.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,225.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.88900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,460,550.00
P & I AMT: 10,003.53
UPB AMT: 1,459,660.39
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 262
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031782048 MORTGAGORS: WANG JAMES
WANG SUSAN
REGION CODE ADDRESS : 22251 BIRCHLEAF
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,103.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,796.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031782071 MORTGAGORS: FORTUNE STEPHEN
FORTUNE CYNTHIA
REGION CODE ADDRESS : 18520 EAST STONEGATE LANE
01 CITY : ROWLAND HEIGHTS AREA
STATE/ZIP : CA 91748
MORTGAGE AMOUNT : 367,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 366,727.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,566.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.78200
----------------------------------------------------------------
0 0031782105 MORTGAGORS: TANG DUC
TIEU VAN
REGION CODE ADDRESS : 3166 SALEM DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95127
MORTGAGE AMOUNT : 342,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 342,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,450.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.90600
----------------------------------------------------------------
0 0031783368 MORTGAGORS: MORGAN CARL
MORGAN EVELYN
REGION CODE ADDRESS : 4318 CARTESIAN CIRCLE,
01 CITY : PALOS VERDES PENINSULA,
STATE/ZIP : CA 90274
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 500,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,496.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.74000
----------------------------------------------------------------
0 0031783376 MORTGAGORS: PECK STEPHEN
PECK KAREN
REGION CODE ADDRESS : 321 NORTH SUMMIT DRIVE
01 CITY : SENECA
STATE/ZIP : SC 29672
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,733.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,162.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.26800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,934,000.00
P & I AMT: 13,471.42
UPB AMT: 1,932,565.07
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 263
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031784713 MORTGAGORS: STEVENS BRADLEY
STEVENS RALENE
REGION CODE ADDRESS : 918 EAST CHELSEA DRIVE
01 CITY : FRESNO
STATE/ZIP : CA 93720
MORTGAGE AMOUNT : 366,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 366,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,499.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031784770 MORTGAGORS: DOYLE DANEIL
DOYLE PAULINE
REGION CODE ADDRESS : 10335 NORTH ARCHIE AVE
01 CITY : FRESNO
STATE/ZIP : CA 93720
MORTGAGE AMOUNT : 412,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 412,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,779.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031785397 MORTGAGORS: KIPPER STEVEN
KIPPER NANCY
REGION CODE ADDRESS : 3202 CLUB DRIVE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90064
MORTGAGE AMOUNT : 425,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 424,700.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,044.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 56.66600
----------------------------------------------------------------
0 0031786528 MORTGAGORS: EPPENBACH DONALD
EPPENBACH L
REGION CODE ADDRESS : 131 CYPRESS LANE
01 CITY : WATSONVILLE
STATE/ZIP : CA 95076
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,726.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.36990
----------------------------------------------------------------
0 0031786536 MORTGAGORS: ANDERSON JOHN
ANDERSON DIANA
REGION CODE ADDRESS : 19501 MANZANITA DRIVE
01 CITY : LOS GATOS
STATE/ZIP : CA 95033
MORTGAGE AMOUNT : 256,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,708.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,710,700.00
P & I AMT: 11,758.53
UPB AMT: 1,710,400.04
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 264
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031787252 MORTGAGORS: THURSBY KEITH
BONKER-THURSBY DAWN
REGION CODE ADDRESS : 14 SARATOGA
01 CITY : IRVINE
STATE/ZIP : CA 92620
MORTGAGE AMOUNT : 234,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,100.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,596.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 84.20800
----------------------------------------------------------------
0 0031787443 MORTGAGORS: ARELLANO BOB
ARELLANO REOLA
REGION CODE ADDRESS : 20642 PORTER RANCH ROAD
01 CITY : TRABUCO CANYON
STATE/ZIP : CA 92679
MORTGAGE AMOUNT : 257,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,863.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 76.71600
----------------------------------------------------------------
0 0031787468 MORTGAGORS: HICHBORN GEOFFREY
HICHBORN KATHERINE
REGION CODE ADDRESS : 7319 EAST GROVEWOOD LANE
01 CITY : ORANGE
STATE/ZIP : CA 92869
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 360,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,305.12 OUTSIDE CONV DATE :
LIFETIME RATE : 6.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070218466 MORTGAGORS: SCHOENHOLT HELENE
SCHOENHOLT DONALD
REGION CODE ADDRESS : 7 WILBER DRIVE
01 CITY : GREAT NECK
STATE/ZIP : NY 11021
MORTGAGE AMOUNT : 327,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,261.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 43.66667
----------------------------------------------------------------
0 0070244322 MORTGAGORS: LOWELL DORIAN
REGION CODE ADDRESS : 605 PARK AVE #5-F
01 CITY : NEW YORK
STATE/ZIP : NY 10021
MORTGAGE AMOUNT : 395,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 394,714.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,795.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 54.48000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,573,600.00
P & I AMT: 10,823.28
UPB AMT: 1,573,314.11
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 265
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070246103 MORTGAGORS: LOVELESS JOHN
LOVELESS ELLEN
REGION CODE ADDRESS : 42 WEST CIRCLE ROAD
01 CITY : Bedford
STATE/ZIP : NY 10506
MORTGAGE AMOUNT : 346,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 346,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,305.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0070256763 MORTGAGORS: REYNOLDS GERALD
REYNOLDS JAN
REGION CODE ADDRESS : 95 OLD STRATTON CHASE
01 CITY : ATLANTA
STATE/ZIP : GA 30328
MORTGAGE AMOUNT : 488,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 488,700.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,417.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 57.49412
----------------------------------------------------------------
0 0070261979 MORTGAGORS: PLOTKIN GERALD
REGION CODE ADDRESS : 50 JANET ROAD
01 CITY : NEWTON
STATE/ZIP : MA 02159
MORTGAGE AMOUNT : 269,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,799.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,882.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 48.94545
----------------------------------------------------------------
0 0070267372 MORTGAGORS: MULIERI PETER
MULIERI ANNE
REGION CODE ADDRESS : 24 HARVARD DRIVE
01 CITY : HINGHAM
STATE/ZIP : MA 02043
MORTGAGE AMOUNT : 268,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,552.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,983.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/23
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 67.10000
----------------------------------------------------------------
0 0070271184 MORTGAGORS: GILL FREDRIC
GILL MARSHA
REGION CODE ADDRESS : 332 DERBYSHIRE LANE
01 CITY : RIVA
STATE/ZIP : MD 21140
MORTGAGE AMOUNT : 404,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 404,100.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,825.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 68.49153
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,776,900.00
P & I AMT: 12,413.60
UPB AMT: 1,775,651.39
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 266
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070281282 MORTGAGORS: PAINE LEWIS
REGION CODE ADDRESS : 90 SEARS ROAD
01 CITY : WAYLAND
STATE/ZIP : MA 01778
MORTGAGE AMOUNT : 450,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 449,657.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,108.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0070284088 MORTGAGORS: SILVERMAN WILLIAM
SILVERMAN ARLENE
REGION CODE ADDRESS : 88 WINDING WAY
01 CITY : WOODCLIFF L
STATE/ZIP : NJ 07675
MORTGAGE AMOUNT : 324,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 64.80000
----------------------------------------------------------------
0 0070285085 MORTGAGORS: NORTON JEFFREY
NORTON KATE
REGION CODE ADDRESS : 340 NORTH FAIRFIELD ROAD
01 CITY : DEVON
STATE/ZIP : PA 19333
MORTGAGE AMOUNT : 252,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,845.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/23
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.37313
----------------------------------------------------------------
0 0070290796 MORTGAGORS: GARSKE PETER
GARSKE DIANE
REGION CODE ADDRESS : 4623 WOODDALE AVE SOUTH
01 CITY : EDINA
STATE/ZIP : MN 55424
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,726.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 51.75983
----------------------------------------------------------------
0 0070294301 MORTGAGORS: MARZORATI GERALD
MUNDY BARBARA
REGION CODE ADDRESS : 25 BENEDICT PLACE
01 CITY : Pelham
STATE/ZIP : NY 10803
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,680.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,694.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.07000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,676,500.00
P & I AMT: 11,612.86
UPB AMT: 1,675,837.71
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 267
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070304183 MORTGAGORS: EHRENREICH ROBERT
EHRENREICH MONA
REGION CODE ADDRESS : 3166 COLBY AVE.
01 CITY : Los Angeles
STATE/ZIP : CA 90066
MORTGAGE AMOUNT : 510,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 510,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,479.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0070305529 MORTGAGORS: PALLA MOHAMMAD
PALLA ANILA
REGION CODE ADDRESS : 2430 GLEN DUFF WAY
01 CITY : San Jose
STATE/ZIP : CA 95148
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,798.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,901.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070308853 MORTGAGORS: HUGHES CRAIG
HUGHES SHEILA
REGION CODE ADDRESS : 5916 RIDGEMOOR DRIVE
01 CITY : San Diego
STATE/ZIP : CA 92120
MORTGAGE AMOUNT : 295,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,987.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 49.17000
----------------------------------------------------------------
0 0070309836 MORTGAGORS: DIBLE JENNIFER
WARREN STEVEN
REGION CODE ADDRESS : 3575 MUIRWOOD DR
01 CITY : Brookfield
STATE/ZIP : WI 53045
MORTGAGE AMOUNT : 361,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 361,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,403.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 75.27000
----------------------------------------------------------------
0 0070310792 MORTGAGORS: NEU CARLOS
NEU JUDITH
REGION CODE ADDRESS : 14 LONGFELLOW ROAD
01 CITY : CAMBRIDGE
STATE/ZIP : MA 02138
MORTGAGE AMOUNT : 283,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,049.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/23
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 37.05882
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,721,800.00
P & I AMT: 11,821.33
UPB AMT: 1,721,598.14
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 268
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070311642 MORTGAGORS: SMITH THOMAS
SMITH ANNETTE
REGION CODE ADDRESS : 26471 SUMMER GREENS DRIVE
01 CITY : BONITA SPRI
STATE/ZIP : FL 34135
MORTGAGE AMOUNT : 317,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 317,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,165.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.35000
----------------------------------------------------------------
0 0070311998 MORTGAGORS: BURCH JACQUELINE
REGION CODE ADDRESS : 11615 TERRYHILL PLACE
01 CITY : Los Angeles
STATE/ZIP : CA 90049
MORTGAGE AMOUNT : 338,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 338,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,277.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 52.81000
----------------------------------------------------------------
0 0070312426 MORTGAGORS: KARP ERIKA
REGION CODE ADDRESS : 160 WEST 86TH STREET #9A
01 CITY : New York
STATE/ZIP : NY 10024
MORTGAGE AMOUNT : 600,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 600,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,144.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 60.61000
----------------------------------------------------------------
0 0070313499 MORTGAGORS: GLYNN DENNIS
GLYNN LINDA
REGION CODE ADDRESS : 221 LANDINGS BOULEVARD
01 CITY : FORT LAUDER
STATE/ZIP : FL 33327
MORTGAGE AMOUNT : 344,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 344,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,346.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 83.90244
----------------------------------------------------------------
0 0070315890 MORTGAGORS: EVANS GEORGE
BEDARD PATRICIA
REGION CODE ADDRESS : 14 LAUREL LANE
01 CITY : CHAPPAQUA
STATE/ZIP : NY 10514
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,726.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 52.63000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,849,400.00
P & I AMT: 12,659.83
UPB AMT: 1,849,400.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 269
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070316344 MORTGAGORS: REID WILBERT
REID DIANE
REGION CODE ADDRESS : 10236 RAINIER AVE. S.
01 CITY : Seattle
STATE/ZIP : WA 98178
MORTGAGE AMOUNT : 552,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 552,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,770.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 63.10000
----------------------------------------------------------------
0 0070316526 MORTGAGORS: ADKINS PAUL
REGION CODE ADDRESS : 1823 Stanford Ave.
01 CITY : Redondo Beach
STATE/ZIP : CA 90278
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,875.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 65.79000
----------------------------------------------------------------
0 0070316823 MORTGAGORS: GEORGE SCOTT
GEORGE IRMA
REGION CODE ADDRESS : 114 RUSSELL DRIVE
01 CITY : WALNUT CREE
STATE/ZIP : CA 94598
MORTGAGE AMOUNT : 271,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,875.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.72464
----------------------------------------------------------------
0 0070318217 MORTGAGORS: SISMANIS LEO
SISMANIS MARNIE
REGION CODE ADDRESS : 17445 VIA CUATRO CAMINOS
01 CITY : Rancho Santa Fe
STATE/ZIP : CA 92067
MORTGAGE AMOUNT : 540,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 540,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,104.39 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 64.29000
----------------------------------------------------------------
0 0070318902 MORTGAGORS: GRABER TERRY
GRABER LORI
REGION CODE ADDRESS : 3900 LITTLE DARBY
01 CITY : LONDON
STATE/ZIP : OH 43140
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,712.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,887,350.00
P & I AMT: 13,339.84
UPB AMT: 1,887,350.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 270
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070319264 MORTGAGORS: SHARAKAN ERIC.D.
SHARAKAN TRACY
REGION CODE ADDRESS : 2035 MAIN STREET
01 CITY : Concord
STATE/ZIP : MA 01742
MORTGAGE AMOUNT : 247,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,002.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,665.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070320148 MORTGAGORS: ROTH MICHAEL
WEIL KARI
REGION CODE ADDRESS : 2526 CALIFORNIA AVENUE
01 CITY : Santa Monica
STATE/ZIP : CA 90403
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 308,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,127.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 57.04000
----------------------------------------------------------------
0 0070323159 MORTGAGORS: HEMOND DENNIS
HEMOND DIANE
REGION CODE ADDRESS : 303 WESTON ROAD
01 CITY : WELLESLEY
STATE/ZIP : MA 02181
MORTGAGE AMOUNT : 274,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,919.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0070324181 MORTGAGORS: MASSA DOMINIC
LISS AMY
REGION CODE ADDRESS : 88 STANDISH ROAD
01 CITY : Needham
STATE/ZIP : MA 02192
MORTGAGE AMOUNT : 337,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 336,709.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,185.78 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 76.77000
----------------------------------------------------------------
0 0070327622 MORTGAGORS: BAGLEY PETER
BAGLEY ADRIENNE
REGION CODE ADDRESS : 270 GLEN ROAD
01 CITY : Weston
STATE/ZIP : MA 02193
MORTGAGE AMOUNT : 375,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 375,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,590.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,541,700.00
P & I AMT: 10,487.86
UPB AMT: 1,541,212.17
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 271
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070328729 MORTGAGORS: PALGON MICHAEL
PALGON MONELLE
REGION CODE ADDRESS : 9 BROKAW LANE
01 CITY : Great Neck
STATE/ZIP : NY 11021
MORTGAGE AMOUNT : 398,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 398,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,619.83 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070330238 MORTGAGORS: MARTOCCI BARBARA
REGION CODE ADDRESS : 27 NORTH DR
01 CITY : Plandome
STATE/ZIP : NY 11030
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,771.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,072.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 41.38000
----------------------------------------------------------------
0 0070330717 MORTGAGORS: MARTIN PHILLIP
MARTIN JASMIN
REGION CODE ADDRESS : 3873 WOODCREEK LANE
01 CITY : San Jose
STATE/ZIP : CA 95117
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,978.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.50000
----------------------------------------------------------------
0 0070330915 MORTGAGORS: NORTON ROBERT
NORTON PAMELA
REGION CODE ADDRESS : 92 BROOK STREET
01 CITY : WELLESLEY
STATE/ZIP : MA 02181
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,712.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 51.13402
----------------------------------------------------------------
0 0070331954 MORTGAGORS: AMBURGEY KAREN
REGION CODE ADDRESS : 63 HILLSIDE DRIVE
01 CITY : Wayland
STATE/ZIP : MA 01778
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,744.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,155.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,556,800.00
P & I AMT: 10,538.94
UPB AMT: 1,556,315.82
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 272
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070333919 MORTGAGORS: CONTE THOMAS
CONTE CATHERINE
REGION CODE ADDRESS : 1001 WEST LADY DIANA COURT
01 CITY : APEX
STATE/ZIP : NC 27502
MORTGAGE AMOUNT : 235,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,603.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 88.67925
----------------------------------------------------------------
0 0070335146 MORTGAGORS: NG STEVEN
NG PATRICIA
REGION CODE ADDRESS : 12 DALTON ROAD
01 CITY : CONCORD
STATE/ZIP : MA 01742
MORTGAGE AMOUNT : 262,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,350.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,745.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 74.95714
----------------------------------------------------------------
0 0070336334 MORTGAGORS: MCKAY APRIL
REGION CODE ADDRESS : 822 CRESTMORE PLACE
01 CITY : Venice
STATE/ZIP : CA 90291
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,002.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.38000
----------------------------------------------------------------
0 0070341029 MORTGAGORS: PAPPAS JOHN
PAPPAS SHELLEY
REGION CODE ADDRESS : 11431 EAST TERRA DRIVE
01 CITY : SCOTTSDALE
STATE/ZIP : AZ 85259
MORTGAGE AMOUNT : 262,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,746.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 65.62500
----------------------------------------------------------------
0 0070342852 MORTGAGORS: GOLDBLATT MARK
KAUFFMAN CAROL
REGION CODE ADDRESS : 8 SHORT HILL ROAD
01 CITY : LINCOLN
STATE/ZIP : MA 01773
MORTGAGE AMOUNT : 477,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 477,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,253.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 65.79000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,526,850.00
P & I AMT: 10,351.89
UPB AMT: 1,526,850.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 273
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070342936 MORTGAGORS: BASTIANICH TANYA
BASTIANICH LIDIA
REGION CODE ADDRESS : 324 MANOR RD
01 CITY : DOUGLASTON
STATE/ZIP : NY 11363
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,748.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 67.57000
----------------------------------------------------------------
0 0070344635 MORTGAGORS: SCOTT GENE
REGION CODE ADDRESS : 3958 HAMPSTEAD ROAD
01 CITY : La Canada Flintridge
STATE/ZIP : CA 91011
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 400,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,661.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070345756 MORTGAGORS: DAVIS DARRIN
HAYDE DAVIS KELLI
REGION CODE ADDRESS : 107 COBBLESTONE LANE
01 CITY : SAN RAMON
STATE/ZIP : CA 94583
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,852.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 70.51282
----------------------------------------------------------------
0 0070346044 MORTGAGORS: LUMSDEN THOMAS
LUMSDEN LUANN
REGION CODE ADDRESS : 6304 KENT POINT ROAD
01 CITY : STEVENSVILL
STATE/ZIP : MD 21666
MORTGAGE AMOUNT : 283,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,250.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,908.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 73.57143
----------------------------------------------------------------
0 0070348925 MORTGAGORS: SULLIVAN NEIL
SULLIVAN DEBORAH
REGION CODE ADDRESS : 65 HIGH RIDGE RD
01 CITY : Trumbull
STATE/ZIP : CT 06611
MORTGAGE AMOUNT : 262,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,743.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 83.17000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,470,250.00
P & I AMT: 9,913.38
UPB AMT: 1,470,250.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 274
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070349881 MORTGAGORS: MACHADO MICHAEL
MACHADO DIANA
REGION CODE ADDRESS : 3078 PINE VALLEY ROAD
01 CITY : San Ramon
STATE/ZIP : CA 94583
MORTGAGE AMOUNT : 261,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,784.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070355318 MORTGAGORS: JULIAN JAMES
JULIAN LESLIE
REGION CODE ADDRESS : 231 MORRIS RANCH ROAD
01 CITY : Danville
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 400,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,728.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 70.18000
----------------------------------------------------------------
0 0070355698 MORTGAGORS: GREENE NEIL
REGION CODE ADDRESS : 37 COUNTRY MEADOW RD.
01 CITY : Rolling Hills Estate
STATE/ZIP : CA 90274
MORTGAGE AMOUNT : 641,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 641,250.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,266.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0070355805 MORTGAGORS: TOM RICHARD
AHN BARBABA
REGION CODE ADDRESS : 1640 VIA CAMPO VERDE
01 CITY : San Jose
STATE/ZIP : CA 95120
MORTGAGE AMOUNT : 387,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 387,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,672.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 76.63000
----------------------------------------------------------------
0 0070362744 MORTGAGORS: MEHREZ DIANE
REGION CODE ADDRESS : 502 NORTH LINDEN DRIVE
01 CITY : Beverly Hills
STATE/ZIP : CA 90210
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 650,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,379.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 47.62000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,339,850.00
P & I AMT: 15,831.61
UPB AMT: 2,339,850.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 275
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070363130 MORTGAGORS: FOREMAN JEFFREY
FOREMAN ROSEMARY
REGION CODE ADDRESS : 322 W. PROSPECT AVENUE
01 CITY : Danville
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 442,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 442,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,980.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070365622 MORTGAGORS: KELLEHER WILLIAM
KELLEHER LISA
REGION CODE ADDRESS : 4622 CHATSWORTH WAY
01 CITY : Ellicott City
STATE/ZIP : MD 21043
MORTGAGE AMOUNT : 249,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,700.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0070366752 MORTGAGORS: MCMANUS MICHAEL
MCMANUS DIANE
REGION CODE ADDRESS : 3 STILLWELL DRIVE
01 CITY : HOLMDEL
STATE/ZIP : NJ 07730
MORTGAGE AMOUNT : 314,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,065.38 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070372123 MORTGAGORS: WEPMAN BARRY
DONOVAN MOLLY
REGION CODE ADDRESS : 2408 CHAIN BRIDGE ROAD NW
01 CITY : WASHINGTON
STATE/ZIP : DC 20016
MORTGAGE AMOUNT : 266,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,837.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.07692
----------------------------------------------------------------
0 0070376652 MORTGAGORS: SCHMOCK JONATHAN
SCHMOCK ERIN
REGION CODE ADDRESS : 2645 DESMOND EST.DR.
01 CITY : Los Angeles
STATE/ZIP : CA 90048
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 380,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,624.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 63.33000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,652,100.00
P & I AMT: 11,208.35
UPB AMT: 1,652,100.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 276
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070378823 MORTGAGORS: BARBA MARIA
REGION CODE ADDRESS : 6802 NORTH LOWELL AVE.
01 CITY : Lincolnwood
STATE/ZIP : IL 60646
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,840.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 78.79000
----------------------------------------------------------------
0 0070379714 MORTGAGORS: ZIEGELE CHRISTOPHER
ZIEGELE JOJI
REGION CODE ADDRESS : 2957 ALVIENA DRIVE
01 CITY : San Jose
STATE/ZIP : CA 95123
MORTGAGE AMOUNT : 267,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,869.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 72.83000
----------------------------------------------------------------
0 0070381959 MORTGAGORS: FRANKEN DONALD
FRANKEN PAMELA
REGION CODE ADDRESS : 1023 BOUNARY PLACE
01 CITY : Manhattan Beach
STATE/ZIP : CA 90266
MORTGAGE AMOUNT : 305,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 305,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,080.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 60.40000
----------------------------------------------------------------
0 0070382171 MORTGAGORS: CHUNG CHI
CHUNG BONNIE
REGION CODE ADDRESS : 23935 JABIL LANE
01 CITY : Los Altos Hills
STATE/ZIP : CA 94024
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 650,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,544.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 61.21000
----------------------------------------------------------------
0 0070383013 MORTGAGORS: DIVON RONEN
DIVON YAEL
REGION CODE ADDRESS : 87 HAMPSHIRE ROAD
01 CITY : Great Neck
STATE/ZIP : NY 11023
MORTGAGE AMOUNT : 313,125.00 OPTION TO CONVERT :
UNPAID BALANCE : 313,125.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,189.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,795,425.00
P & I AMT: 12,524.21
UPB AMT: 1,795,425.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981530 01 02 03
PAGE: 277
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070385851 MORTGAGORS: FORSBERG PAUL
FORSBERG JOCELYN
REGION CODE ADDRESS : 960 TUDOR COURT
01 CITY : Lake Zurich
STATE/ZIP : IL 60047
MORTGAGE AMOUNT : 300,195.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,195.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,099.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 92.37000
----------------------------------------------------------------
0 0070398730 MORTGAGORS: KEY CYNTHIA
REGION CODE ADDRESS : 1955 DEER VALLEY DRIVE #302
01 CITY : Park City
STATE/ZIP : UT 84060
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,417.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 66.29000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 2
LOAN AMT: 650,195.00
P & I AMT: 4,516.37
UPB AMT: 650,195.00
0 TOTAL NUM OF LOANS: 1382
LOAN AMT: 476,430,004.20
P & I AMT: 3,280,464.06
UPB AMT: 475,922,798.28
<PAGE>
EXHIBIT C - SUPPLEMENT
SCHEDULE OF COOPERATIVE LOANS
SERIES 1998-15
CUT-OFF DATE
LOAN NO. PRINCIPAL BALANCE BORROWER NAME
70244322 $394,714.11 Lowell
<PAGE>
EXHIBIT D
FORM OF SERVICER'S CERTIFICATE
________________, ______
(month) (year)
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC Multi-Class Pass-Through Certificates,
Series 1998-15
Pursuant to the Pooling and Servicing Agreement dated
as of September 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 $________
(b) Interest $________
(c) Total $________
(2) Aggregate Monthly Payments
received and Monthly Advances
made this Month:
(a) Principal $________
(b) Interest $________
(c) Total $________
(3) Aggregate Principal Prepayments
in part received and applied in
the applicable Prepayment Period:
(a) Principal $________
(b) Interest $________
(c) Total $________
(4) Aggregate Principal Prepayments
in full received in the
applicable Prepayment Period:
(a) Principal $________
(b) Interest $________
(c) Total $________
<PAGE>
(5) Aggregate Insurance Proceeds
(including purchases of Mortgage
Loans by primary mortgage
insurers) for prior month:
(a) Principal $________
(b) Interest $________
(c) Total $________
(6) Aggregate Liquidation
Proceeds for prior month:
(a) Principal $________
(b) Interest $________
(c) Total $________
(7) Aggregate Purchase Prices
for Defaulted and Modified
Mortgage Loans:
(a) Principal $________
(b) Interest $________
(c) Total $________
(8) Aggregate Purchase Prices
(and substitution adjustments)
for Defective Mortgage Loans:
(a) Principal $________
(b) Interest $________
(c) Total $________
(9) Pool Scheduled Principal
Balance: $________
(10) Available Funds: $________
(11) Realized Losses for prior
month: $________
(12) Aggregate Realized Losses
and Debt Service Reductions:
(a) Deficient Valuations $________
(b) Special Hazard Losses $________
(c) Fraud Losses $________
(d) Excess Bankruptcy Losses $________
(e) Excess Special Hazard Losses $________
(f) Excess Fraud Losses $________
(g) Debt Service Reductions $________
(13) Compensating Interest Payment: $________
D-2
<PAGE>
(14) Accrued Certificate Interest, Unpaid Class
Interest Shortfalls and Pay-out Rate:
Class A1 $__________ $__________ ____%
Class A2 $__________ $__________ ____%
Class A3 $__________ $__________ ____%
Class A4 $__________ $__________ ____%
Class A5 $__________ $__________ ____%
Class A6 $__________ $__________ ____%
Class A7 $__________ $__________ ____%
Class A8 $__________ $__________ ____%
Class A9 $__________ $__________ ____%
Class A10 $__________ $__________ ____%
Class A11 $__________ $__________ ____%
Class M $__________ $__________ ____%
Class B1 $__________ $__________ ____%
Class B2 $__________ $__________ ____%
Class B3 $__________ $__________ ____%
Class B4 $__________ $__________ ____%
Class B5 $__________ $__________ ____%
Class R $__________ $__________ ____%
(15) Principal distributable:
Class A1 $__________
Class A2 $__________
Class A3 $__________
Class A4 $__________
Class A5 $__________
Class A6 $__________
Class A7 $__________
Class A8 $__________
Class A9 $__________
Class A10 $__________
Class A11 $__________
Class PO $__________
Class M $__________
Class B1 $__________
Class B2 $__________
Class B3 $__________
Class B4 $__________
Class B5 $__________
Class R $__________
D-3
<PAGE>
(16) Additional distributions to the Class R
Certificate pursuant to Section 4.01(b):
Class R $__________
(17) Distributions Allocable to Unanticipated
Recoveries:
Class A1 __________
Class A2 __________
Class A3 __________
Class A4 __________
Class A5 __________
Class A6 __________
Class A7 __________
Class A8 __________
Class A9 __________
Class A10 __________
Class A11 __________
Class PO __________
Class M __________
Class B1 __________
Class B2 __________
Class B3 __________
Class B4 __________
Class B5 __________
Class R __________
B. Other Amounts:
1. Senior Percentage for such
Distribution Date: _____________%
2. Senior Prepayment Percentage
for such Distribution Date: _____________%
3. Junior Percentage for such
Distribution Date: _____________%
4. Junior Prepayment Percentage
for such Distribution Date: _____________%
5. Group II Senior Percentage
for such Distribution Date: _____________%
D-4
<PAGE>
6. Group II Senior Distribution
Percentage for such Distribution
Date: _____________%
7. Subordinate Certificate
Writedown Amount for such
Distribution Date: $_____________
8. Prepayment Distribution
Triggers satisfied: Yes No
Class B1 _____ _____
Class B2 _____ _____
Class B3 _____ _____
Class B4 _____ _____
Class B5 _____ _____
9. Base Servicing Fee: $___________
10. Supplemental Servicing Fee: $___________
Capitalized terms used in this Certificate shall have
the same meanings as in the Agreement.
D-5
<PAGE>
EXHIBIT E
FORM OF TRANSFER CERTIFICATE AS TO ERISA MATTERS FOR
DEFINITIVE ERISA-RESTRICTED CERTIFICATES
State Street Bank and Trust Company
Corporate Trust Department
225 Franklin Street
Boston, Massachusetts 02110
[NAME OF OFFICER] ______________________ hereby certifies that:
1. That he [she] is [title of officer] ___________________
of [name of Investor] _______________________________________
(the "Investor"), a __________ ______________________
[description of type of entity] duly organized and existing under
the laws of the [State of ____________] [United States], on
behalf of which he [she] makes this affidavit.
2. The Investor (i) is not, and on ________________ [insert
date of transfer of Certificate to Investor] will not be, and on
such date will not be investing the funds of, an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Code or (ii) is an insurance company investing assets of its
general account and the exemptions provided by Section III(a) of
Department of Labor Prohibited Transaction Class Exemption 95-60,
60 Fed. Reg. 35925 (July 12, 1995) (the "Exemptions") apply to
the Investor's acquisition and holding or any ERISA-Restricted
Certificate.
3. The Investor hereby acknowledges that under the terms of
the Pooling and Servicing Agreement (the "Agreement") between
State Street Bank and Trust Company, as Trustee and GE Capital
Mortgage Services, Inc., dated as of September 1, 1998, no
transfer of any ERISA-Restricted Certificate shall be permitted
to be made to any person unless the Trustee has received (i) a
certificate from such transferee to the effect that (x) such
transferee is not an employee benefit plan subject to ERISA or a
plan subject to Section 4975 of the Code (a "Plan") and is not
using the assets of any such employee benefit or other plan to
acquire any such Certificate or (y) such transferee is an
insurance company investing assets of its general account and the
Exemptions apply to such transferee's acquisition and holding of
any such Certificate or (ii) an opinion of counsel satisfactory
to the Trustee to the effect that the purchase and holding of any
such Certificate will not constitute or result in the assets of
the Trust Fund created by the Agreement being deemed to be "plan
assets" and subject to the prohibited transaction provisions of
ERISA or Section 4975 of the Code and will not subject the
Trustee or the Company to any obligation in addition to those
undertaken in the Agreement (provided, however, that the Trustee
<PAGE>
will not require such certificate or opinion in the event that,
as a result of change of law or otherwise, counsel satisfactory
to the Trustee has rendered an opinion to the effect that the
purchase and holding of any such Certificate by a Plan or a
Person that is purchasing or holding any such Certificate with
the assets of a Plan will not constitute or result in a
prohibited transaction under ERISA or Section 4975 of the Code).
[4. The ERISA-Restricted Certificates shall be registered
in the name of ______________________________________________ as
nominee for the Investor.]
IN WITNESS WHEREOF, the Investor has caused this instrument to be
executed on its behalf, pursuant to authority of its Board of
Directors, by its [title of officer] __________________ and its
corporate seal to be hereunder attached, attested by its
[Assistant] Secretary, this ____ day of _________, 199_.
_________________________________
[name of Investor]
By:______________________________
Name:
Title:
The undersigned hereby
acknowledges that it is holding
and will hold the ERISA-Restricted
Certificates at the exclusive
direction of and as nominee of
the Investor named above.
_______________________________
[name of nominee]
By:____________________________
Name:
Title:
E-2
<PAGE>
EXHIBIT F
FORM OF RESIDUAL CERTIFICATE TRANSFEREE AFFIDAVIT
STATE OF )
) ss.:
COUNTY OF )
[NAME OF OFFICER], _________________ being first duly sworn,
deposes and says:
1. That he [she] is [title of officer] ____________________
of [name of Purchaser] _________________________________________
(the "Purchaser"), a _________________ ____________________
[description of type of entity] duly organized and existing under
the laws of the [State of __________] [United States], on behalf
of which he [she] makes this affidavit.
2. That the Purchaser's Taxpayer Identification Number is
[ ].
3. That the Purchaser is not a "disqualified organization"
within the meaning of Section 860E(e)(5) of the Internal Revenue
Code of 1986, as amended (the "Code") and will not be a
"disqualified organization" as of [date of transfer], and that
the Purchaser is not acquiring a Residual Certificate (as defined
below) for the account of, or as agent (including a broker,
nominee, or other middleman) for, any person or entity from which
it has not received an affidavit substantially in the form of
this affidavit. For these purposes, a "disqualified organization"
means the United States, any state or political subdivision
thereof, any foreign government, any international organization,
any agency or instrumentality of any of the foregoing (other than
an instrumentality if all of its activities are subject to tax
and a majority of its board of directors is not selected by such
governmental entity), any cooperative organization furnishing
electric energy or providing telephone service to persons in
rural areas as described in Code Section 1381(a)(2)(C), or any
organization (other than a farmers' cooperative described in Code
Section 521) that is exempt from federal income tax unless such
organization is subject to the tax on unrelated business income
imposed by Code Section 511. As used herein, "Residual
Certificate" means any Certificate designated as a "Class R
Certificate" of GE Capital Mortgage Services, Inc.'s REMIC
Multi-Class Pass-Through Certificates, Series 1998-15.
4. That the Purchaser is not, and on __________ [insert
date of transfer of Residual Certificate to Purchaser] will not
be, and is not and on such date will not be investing the assets
of, an employee benefit plan subject to the Employee Retirement
Income Security Act of 1974, as amended ("ERISA"), or a plan
subject to Code Section 4975 or a person or entity that is using
the assets of any employee benefit plan or other plan to acquire
a Residual Certificate.
<PAGE>
5. That the Purchaser hereby acknowledges that under the
terms of the Pooling and Servicing Agreement (the "Agreement")
between State Street Bank and Trust Company, as Trustee, and GE
Capital Mortgage Services, Inc., dated as of September 1, 1998,
no transfer of the Residual Certificates shall be permitted to be
made to any person unless the Trustee has received a certificate
from such transferee to the effect that such transferee is not an
employee benefit plan subject to ERISA or a plan subject to
Section 4975 of the Code and is not using the assets of any
employee benefit plan or other plan to acquire Residual
Certificates.
6. That the Purchaser does not hold REMIC residual
securities as nominee to facilitate the clearance and settlement
of such securities through electronic book-entry changes in
accounts of participating organizations (such entity, a
"Book-Entry Nominee").
7. That the Purchaser does not have the intention to impede
the assessment or collection of any federal, state or local taxes
legally required to be paid with respect to such Residual
Certificate.
8. That the Purchaser will not transfer a Residual
Certificate to any person or entity (i) as to which the Purchaser
has actual knowledge that the requirements set forth in paragraph
3, paragraph 6 or paragraph 10 hereof are not satisfied or that
the Purchaser has reason to believe does not satisfy the
requirements set forth in paragraph 7 hereof, and (ii) without
obtaining from the prospective Purchaser an affidavit
substantially in this form and providing to the Trustee a written
statement substantially in the form of Exhibit G to the
Agreement.
9. That the Purchaser understands that, as the holder of a
Residual Certificate, the Purchaser may incur tax liabilities in
excess of any cash flows generated by the interest and that it
intends to pay taxes associated with holding such Residual
Certificate as they become due.
10. That the Purchaser (i) is not a Non-U.S. Person or (ii)
is a Non-U.S. Person that holds a Residual Certificate in
connection with the conduct of a trade or business within the
United States and has furnished the transferor and the Trustee
with an effective Internal Revenue Service Form 4224 or successor
form at the time and in the manner required by the Code or (iii)
is a Non-U.S. Person that has delivered to both the transferor
and the Trustee an opinion of a nationally recognized tax counsel
to the effect that the transfer of such Residual Certificate to
it is in accordance with the requirements of the Code and the
regulations promulgated thereunder and that such transfer of a
Residual Certificate will not be disregarded for federal income
tax purposes. "Non-U.S. Person" means an individual, corporation,
partnership or other person other than a citizen or resident of
the United States, a corporation, partnership or other entity
created or organized in or under the laws of the United States or
any political subdivision thereof, or an estate or trust that is
subject to U.S. federal income tax regardless of the source of
its income.
11. That the Purchaser agrees to such amendments of the
Pooling and Servicing Agreement as may be required to further
effectuate the restrictions on transfer of any Residual
F-2
<PAGE>
Certificate to such a "disqualified organization," an agent
thereof, a Book-Entry Nominee, or a person that does not satisfy
the requirements of paragraph 7 and paragraph 10 hereof.
12. That the Purchaser consents to the designation of the
Company as its agent to act as "tax matters person" of the Trust
Fund, pursuant to the Pooling and Servicing Agreement.
F-3
<PAGE>
IN WITNESS WHEREOF, the Purchaser has caused this
instrument to be executed on its behalf, pursuant to authority of
its Board of Directors, by its [title of officer] this _____ day
of __________, 19__.
_________________________________
[name of Purchaser]
By:______________________________
Name:
Title:
Personally appeared before me the above-named [name of officer]
________________, known or proved to me to be the same person who
executed the foregoing instrument and to be the [title of
officer] _________________ of the Purchaser, and acknowledged to
me that he [she] executed the same as his [her] free act and deed
and the free act and deed of the Purchaser.
Subscribed and sworn before me this _____ day of __________,
19__.
NOTARY PUBLIC
______________________________
COUNTY OF_____________________
STATE OF______________________
My commission expires the _____ day of __________, 19__.
F-4
<PAGE>
EXHIBIT G
[LETTER FROM TRANSFEROR OF RESIDUAL CERTIFICATE]
____________________
Date
State Street Bank and Trust Company
Corporate Trust Department
225 Franklin Street
8th Floor
Boston, Massachusetts 02110
Re: GE Capital Mortgage Services, Inc.
REMIC Multi-Class Pass-Through
Certificates, Series 1998-15
Ladies and Gentlemen:
_______________________ (the "Transferor") has
reviewed the attached affidavit of _____________________________
(the "Transferee"), and has no actual knowledge that such
affidavit is not true and has no reason to believe that the
information contained in paragraph 7 thereof is not true, and has
no reason to believe that the Transferee has the intention to
impede the assessment or collection of any federal, state or
local taxes legally required to be paid with respect to a
Residual Certificate. In addition, the Transferor has conducted a
reasonable investigation at the time of the transfer and found
that the Transferee had historically paid its debts as they came
due and found no significant evidence to indicate that the
Transferee will not continue to pay its debts as they become due.
Very truly yours,
_______________________________
Name:
Title:
<PAGE>
EXHIBIT H
ADDITIONAL SERVICER COMPENSATION
QUALIFIED ADMINISTRATIVE EXPENSES
(Conventional, Non-Conforming Loans)
Assumption Fees $550 - $800
Late Charges Per Loan Documents
Appraisal/Inspection Fees Reasonable and
Customary Charges
Partial Release Fees $300
Easements $150
Insufficient Funds Charges $15
Document Requests (copies of loan
file documents, additional pay-off
quotations, amortization schedules,
payment histories) $0
Modification Fees Reasonable and
Customary Charges
<PAGE>
EXHIBIT I
FORM OF INVESTMENT LETTER FOR
DEFINITIVE RESTRICTED CERTIFICATES
______________________
Date
State Street Bank and Trust Company
Corporate Trust Department
225 Franklin Street
8th Floor
Boston, Massachusetts 02110
Re: GE Capital Mortgage Services, Inc.
REMIC Multi-Class Pass Through
Certificates, Series 1998-15
Ladies and Gentlemen:
1. The undersigned, a [title of officer] _____________
of [name of Investor] _________________________________________
(the "Investor"), a _________________________ [description of
type of entity] duly organized and existing under the laws of the
[State of __________________] [United States], hereby certifies
as follows:
2. The Investor hereby acknowledges that under the
terms of the Pooling and Servicing Agreement between State Street
Bank and Trust Company, as Trustee, and GE Capital Mortgage
Services, Inc. (the "Company"), dated as of September 1, 1998
(the "Agreement"), no transfer of a Restricted Certificate may be
made unless such transfer is exempt from the registration
requirements of the Securities Act of 1933, as amended (the
"Securities Act"), and any applicable state securities laws, or
is made in accordance with the Securities Act and such laws.
3. The Investor understands that (a) the Restricted
Certificates have not been and will not be registered or
qualified under the Securities Act, or the securities laws of any
state, (b) neither the Company nor the Trustee is required, and
neither intends, to so register or qualify the Restricted
Certificates, (c) the Restricted Certificates cannot be resold
unless (i) they are registered and qualified under the Securities
Act and the applicable state securities laws or (ii) such sale is
exempt from the requirements of the Securities Act, (d) the
Agreement contains restrictions regarding the transfer of the
Restricted Certificates and (e) the Restricted Certificates will
bear a legend to the foregoing effect.
<PAGE>
4. The Investor is acquiring the Restricted
Certificates for its own account for investment only and not with
a view to or for sale or other transfer in connection with any
distribution of the Restricted Certificates in any manner that
would violate the Securities Act or any applicable state
securities laws.
5. The Investor (a) is a substantial, sophisticated
institutional investor having such knowledge and experience in
financial and business matters, and in particular in such matters
related to securities similar to the Restricted Certificates,
such that it is capable of evaluating the merits and risks of
investment in the Restricted Certificates, (b) is able to bear
the economic risks of such an investment and (c) is an
"accredited investor" within the meaning of Rule 501(a)(1), (2),
(3) or (7) promulgated pursuant to the Securities Act.
6. The Investor will not authorize nor has it
authorized any person to (a) offer, pledge, sell, dispose of or
otherwise transfer any Restricted Certificate, any interest in
any Restricted Certificate or any other similar security to any
person in any manner, (b) solicit any offer to buy or to accept a
pledge, disposition or other transfer of any Restricted
Certificate, any interest in any Restricted Certificate or any
other similar security from any person in any manner, (c)
otherwise approach or negotiate with respect to any Restricted
Certificate, any interest in any Restricted Certificate or any
other similar security with any person in any manner, (d) make
any general solicitation by means of general advertising or in
any other manner, or (e) take any other action that would
constitute a distribution of any Restricted Certificate under the
Securities Act, that would render the disposition of any
Restricted Certificate a violation of Section 5 of the Securities
Act or any state securities law, or that could require
registration or qualification pursuant thereto. Neither the
Investor nor anyone acting on its behalf has offered the
Restricted Certificates for sale or made any general solicitation
by means of general advertising or in any other manner with
respect to the Restricted Certificates. The Investor will not
sell or otherwise transfer any of the Restricted Certificates,
except in compliance with the provisions of the Agreement.
7. If an Investor in a Restricted Certificate sells or
otherwise transfers any such Certificate to a transferee other
than a "qualified institutional buyer" under Rule 144A of the
Securities Act, such Investor will obtain (a) from any subsequent
purchaser the same certifications, representations, warranties
and covenants contained in the foregoing paragraphs and in this
paragraph or (b) an opinion of counsel in form and substance
satisfactory to the Trustee pursuant to the Agreement.
8. The Investor hereby indemnifies the Trustee and the
Company against any liability that may result if the Investor's
transfer of a Restricted Certificate (or any portion thereof) is
not exempt from the registration requirements of the Securities
Act and any applicable state securities laws or is not made in
accordance with such federal and state laws. Such indemnification
of the Trustee and the Company shall survive the termination of
the Agreement.
[9. The Restricted Certificates shall be registered in
the name of _____________________________ as nominee for the
Investor.]
I-2
<PAGE>
IN WITNESS WHEREOF, the Investor has caused this
instrument to be executed on its behalf, pursuant to authority of
its Board of Directors, by its [title of officer] _____________
this _____ day of __________, 19__.
_________________________________
[name of Investor]
By:______________________________
Name:
Title:
The undersigned hereby acknowledges that it is holding and
will hold the Restricted Certificates at the exclusive direction
of and as nominee of the Investor named above.
_____________________________
[name of nominee]
By:__________________________
Name:
Title:
I-3
<PAGE>
EXHIBIT J
FORM OF DISTRIBUTION DATE STATEMENT
_________________, ______
(month) (year)
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC Multi-Class Pass-Through Certificates,
Series 1998-15
Pursuant to the Pooling and Servicing Agreement dated
as of September 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:
The amounts below are for a Single Certificate of
$1,000:
(1) Amount of distribution allocable to principal:
Class A1 $__________
Class A2 $__________
Class A3 $__________
Class A4 $__________
Class A5 $__________
Class A6 $__________
Class A7 $__________
Class A8 $__________
Class A9 $__________
Class A10 $__________
Class A11 $__________
Class PO $__________
Class M $__________
Class B1 $__________
Class B2 $__________
Class B3 $__________
Class B4 $__________
Class B5 $__________
Class R $__________
(2) Aggregate principal prepayments included in
distribution:
Class A1 $__________
Class A2 $__________
<PAGE>
Class A3 $__________
Class A4 $__________
Class A5 $__________
Class A6 $__________
Class A7 $__________
Class A8 $__________
Class A9 $__________
Class A10 $__________
Class A11 $__________
Class PO $__________
Class M $__________
Class B1 $__________
Class B2 $__________
Class B3 $__________
Class B4 $__________
Class B5 $__________
Class R $__________
(3) Amount of distribution allocable to interest;
Pay-out Rate:
Class A1 $__________ ____%
Class A2 $__________ ____%
Class A3 $__________ ____%
Class A4 $__________ ____%
Class A5 $__________ ____%
Class A6 $__________ ____%
Class A7 $__________ ____%
Class A8 $__________ ____%
Class A9 $__________ ____%
Class A10 $__________ ____%
Class A11 $__________ ____%
Class M $__________ ____%
Class B1 $__________ ____%
Class B2 $__________ ____%
Class B3 $__________ ____%
Class B4 $__________ ____%
Class B5 $__________ ____%
Class R $__________ ____%
(4) Amount of distribution allocable to Unanticipated
Recoveries:
Class A1 $__________ ____%
Class A2 $__________ ____%
Class A3 $__________ ____%
J-2
<PAGE>
Class A4 $__________ ____%
Class A5 $__________ ____%
Class A6 $__________ ____%
Class A7 $__________ ____%
Class A8 $__________ ____%
Class A9 $__________ ____%
Class A10 $__________ ____%
Class A11 $__________ ____%
Class PO $__________ ____%
Class M $__________ ____%
Class B1 $__________ ____%
Class B2 $__________ ____%
Class B3 $__________ ____%
Class B4 $__________ ____%
Class B5 $__________ ____%
Class R $__________ ____%
(5) Servicing Compensation: $__________
The amounts below are for the aggregate of all
Certificates:
(6) Pool Scheduled Principal
Balance; number of
Mortgage Loans: $__________ __________
(7) Class Certificate Principal
Balance (or Notional Principal
Balance) of each Class;
Certificate Principal Balance
(or Notional Principal Balance)
of Single Certificate of each
Class:
Single
Certificate
Class Balance Balance
Class A1 $__________ $__________
Class A2 $__________ $__________
Class A3 $__________ $__________
Class A4 $__________ $__________
Class A5 $__________ $__________
Class A6 $__________ $__________
Class A7 $__________ $__________
Class A8 $__________ $__________
Class A9 $__________ $__________
J-3
<PAGE>
Class A10 $__________ $__________
Class A11 $__________ $__________
Class PO $__________ $__________
Class M $__________ $__________
Class B1 $__________ $__________
Class B2 $__________ $__________
Class B3 $__________ $__________
Class B4 $__________ $__________
Class B5 $__________ $__________
Class R $__________ $__________
(8) Book value of real estate
acquired on behalf of
Certificate-holders;
number of related
Mortgage Loans: $__________ __________
(9) Aggregate Scheduled Principal
Balance and number of delinquent
Mortgage Loans:
30-59 days delinquent $__________ __________
60-89 days delinquent $__________ __________
90 or more days delinquent $__________ __________
In foreclosure $__________ __________
(10) Aggregate Scheduled
Principal Balance and
number of replaced
Mortgage Loans: $__________ __________
(11) Aggregate Scheduled
Principal Balance and
number of modified
Mortgage Loans: $__________ __________
(12) Senior Percentage for
such Distribution Date: __________%
(13) Senior Prepayment
Percentage for such
Distribution Date: __________%
(14) Group II Senior
Percentage for such
Distribution Date: __________%
(15) Group II Senior
Distribution Percentage
for such Distribution
Date: __________%
J-4
<PAGE>
(16) Junior Percentage for
such Distribution Date: __________%
(17) Junior Prepayment
Percentage for such
Distribution Date: __________%
Capitalized terms used in this Statement shall have
the same meanings as in the Agreement.
J-5
<PAGE>
EXHIBIT K
FORM OF SPECIAL SERVICING
AND COLLATERAL FUND AGREEMENT
This SPECIAL SERVICING AND COLLATERAL FUND AGREEMENT
(the "Agreement") is made and entered into as of
____________________, 199_, between GE Capital Mortgage Services,
Inc. (the "Company") and _____________________________ (the
"Purchaser").
PRELIMINARY STATEMENT
___________________________ or an affiliate thereof is
the holder of the entire interest in REMIC Multi-Class
Pass-Through Certificates, Series 199_-__, Class B_ (the "Class
B_ Certificates"). The Class B_ Certificates were issued pursuant
to a Pooling and Servicing Agreement (the "Pooling and Servicing
Agreement") dated as of ________ 1, 199_ between the Company (in
its capacity as servicer thereunder, the "Servicer") and State
Street Bank and Trust Company as Trustee.
____________________________ or an affiliate thereof
intends to resell all of the Class B_ Certificates directly to
the Purchaser on or promptly after the date hereof.
In connection with such sale, the parties hereto have
agreed that the Company, as Servicer, will engage in certain
special servicing procedures relating to foreclosures for the
benefit of the Purchaser, and that the Purchaser will deposit
funds in a collateral fund to cover any losses attributable to
such procedures as well as all advances and costs in connection
therewith, as set forth herein.
[The parties hereto have further agreed that the
Purchaser will have no rights, and the Company will have no
obligations under this Agreement until the Class Certificate
Principal Balance of the REMIC Multi-Class Pass-Through
Certificates, Series 199_-__, Class B5 (the "Class B5
Certificates") has been reduced to zero, and any Special
Servicing and Collateral Fund Agreement in respect of such Class
between the Company and the Purchaser has been terminated.]
In consideration of the mutual agreements herein
contained, the receipt and sufficiency of which are hereby
acknowledged, the Company and the Purchaser agree that the
following provisions shall become effective and shall be binding
on and enforceable by the Company and the Purchaser upon the
acquisition by the Purchaser of the Class B_ Certificates.
<PAGE>
ARTICLE I
DEFINITIONS
Section 1.01. Defined Terms. Whenever used in this
Agreement, the following words and phrases, unless the context
otherwise requires, shall have the following meanings:
Business Day: Any day other than (i) a Saturday or a
Sunday of (ii) a day on which banking institutions in New York
City or Boston, Massachusetts are required or authorized by law
or executive order to be closed.
Collateral Fund: The fund established and maintained
pursuant to Section 3.01 hereof.
Collateral Fund Permitted Investments: Either (i)
obligations of, or obligations fully guaranteed as to principal
and interest by, the United States, or any agency or
instrumentality thereof, provided such obligations are backed by
the full faith and credit of the United States, (ii) repurchase
agreements on obligations specified in clause (i) provided that
the unsecured obligations of the party agreeing to repurchase
such obligations are at the time rated by each Rating Agency in
the highest long-term rating category, (iii) federal funds,
certificates of deposit, time deposits and banker's acceptances
of any U.S. depository institution or trust company incorporated
under the laws of the United States or any state provided that
the debt obligations of such depository institution or trust
company at the date of acquisition thereof have been rated by
each Rating Agency in the highest long-term rating category, (iv)
commercial paper of any corporation incorporated under the laws
of the United States or any state thereof which on the date of
acquisition has the highest short term rating of each Rating
Agency, and (v) other obligations or securities that are
acceptable to each Rating Agency as a Collateral Fund Permitted
Investment hereunder and will not, as evidenced in writing,
result in a reduction or withdrawal in the then current rating of
the Certificates and, for each of the preceding clauses, the
maturity thereof shall be not later than the earlier to occur of
(A) 30 days from the date of the related investment and (B) the
Business Day preceding the next succeeding Distribution Date.
Commencement of Foreclosure: The first official action
required under local law in order to commence foreclosure
proceedings or to schedule a trustee's sale under a deed of
trust, including (i) in the case of a mortgage, any filing or
service of process necessary to commence an action to foreclose,
or (ii) in the case of a deed of trust, the posting, publishing,
filing or delivery of a notice of sale, but not including in
either case (x) any notice of default, notice of intent to
foreclose or sell or any other action prerequisite to the actions
specified in (i) or (ii) above and, upon the consent of the
Purchaser which will be deemed given unless expressly withheld
within two Business Days of notification, (y) the acceptance of a
deed-in-lieu of foreclosure (whether in connection with a sale of
the related property or otherwise) or (z) initiation and
completion of a short pay-off.
Current Appraisal: With respect to any Mortgage Loan
as to which the Purchaser has made an Election to Delay
Foreclosure, an appraisal of the related Mortgaged Property
K-2
<PAGE>
obtained by the Purchaser as nearly contemporaneously as
practicable to the time of the Purchaser's election, prepared
based on the Company's customary requirements for such
appraisals.
Election to Delay Foreclosure: Any election by the
Purchaser to delay the Commencement of Foreclosure, made in
accordance with Section 2.02(b).
Election to Foreclose: Any election by the Purchaser
to proceed with the Commencement of Foreclosure, made in
accordance with Section 2.03(a).
Required Collateral Fund Balance: As of any date of
determination, an amount equal to the aggregate of all amounts
previously required to be deposited in the Collateral Fund
pursuant to Section 2.02(d) (after adjustments for all
withdrawals and deposits prior to such date pursuant to Section
2.02(e)) and Section 2.03(b) (after adjustment for all
withdrawals and deposits prior to such date pursuant to Section
2.03(c)) and Section 3.02, reduced by all withdrawals therefrom
prior to such date pursuant to Section 2.02(g) and Section
2.03(d).
Section 1.02. Definitions Incorporated by Reference. All
capitalized terms not otherwise defined in this Agreement shall
have the meanings assigned in the Pooling and Servicing
Agreement.
ARTICLE II
SPECIAL SERVICING PROCEDURES
Section 2.01. Reports and Notices.
(a) In connection with the performance of its duties under
the Pooling and Servicing Agreement relating to the realization
upon defaulted Mortgage Loans, the Company as Servicer shall
provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each
Distribution Date (or included in or with the monthly
statements to Certificateholders pursuant to the Pooling
and Servicing Agreement), the Company, as Servicer, shall
provide to the Purchaser a report, using the same
methodology and calculations in its standard servicing
reports, indicating for the Trust Fund the number of
Mortgage Loans that are (A) thirty days, (B) sixty days,
(C) ninety days or more delinquent or (D) in foreclosure,
and indicating for each such Mortgage Loan the loan number
and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in
connection with any Mortgage Loan, the Company shall
provide the Purchaser with a notice (sent by facsimile
transmission) of such proposed and imminent foreclosure,
stating the loan number and the aggregate amount owing
under the Mortgage Loan. Such notice may be provided to the
Purchaser in the form of a copy of a referral letter from
the Company to an attorney
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requesting the institution of foreclosure or a copy of a
request to foreclose received by the Company from the
related primary servicer which has been approved by the
Company.
(b) If requested by the Purchaser, the Company shall make
its servicing personnel available (during their normal business
hours) to respond to reasonable inquiries, in writing by
facsimile transmission, by the Purchaser in connection with any
Mortgage Loan identified in a report under subsection (a)(i) or
(a)(ii) which has been given to the Purchaser, provided, that (1)
the Company shall only be required to provide information that is
readily accessible to its servicing personnel and is non-
confidential and (2) the Company shall respond within five
Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company shall provide
to the Purchaser such information as the Purchaser may reasonably
request concerning each Mortgage Loan that is at least sixty days
delinquent and each Mortgage Loan which has become real estate
owned, through the final liquidation thereof, provided, that the
Company shall only be required to provide information that is
readily accessible to its servicing personnel and is
non-confidential.
Section 2.02. Purchaser's Election to Delay Foreclosure
Proceedings.
(a) The Purchaser shall be deemed to direct the Company
that in the event that the Company does not receive written
notice of the Purchaser's election pursuant to subsection (b)
below within 24 hours (exclusive of any intervening non-Business
Days) of transmission of the notice provided by the Company under
Section 2.01(a)(ii) subject to extension as set forth in Section
2.02(b), the Company may proceed with the Commencement of
Foreclosure in respect of such Mortgage Loan in accordance with
its normal foreclosure policies without further notice to the
Purchaser. Any foreclosure that has been initiated may be
discontinued (i) without notice to the Purchaser if the Mortgage
Loan has been brought current or if a refinancing or prepayment
occurs with respect to the Mortgage Loan (including by means of a
short payoff approved by the Company) or (ii) with notice to the
Purchaser if the Company has reached the terms of a forbearance
agreement with the borrower. In such latter case the Company may
complete such forbearance agreement unless instructed otherwise
by the Purchaser within two Business Days of notification.
(b) In connection with any Mortgage Loan with respect to
which a notice under Section 2.01(a)(ii) has been given to the
Purchaser, the Purchaser may elect to instruct the Company to
delay the Commencement of Foreclosure until such time as the
Purchaser determines that the Company may proceed with the
Commencement of Foreclosure. Such election must be evidenced by
written notice received within 24 hours (exclusive of any
intervening non-Business Days) of transmission of the notice
provided by the Company under Section 2.01(a)(ii). The Purchaser
shall send a copy of such notice of election to each Rating
Agency as soon as practicable thereafter. Such 24-hour period
shall be extended for no longer than an additional four Business
Days after the receipt of the information if the Purchaser
requests additional information related to such foreclosure
within such 24-hour period; provided, however, that the Purchaser
will have at least one Business Day to make such election
following its receipt of any requested additional information.
Any such additional information shall (i) not be confidential in
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<PAGE>
nature and (ii) be obtainable by the Company from existing
reports, certificates or statements or otherwise be readily
accessible to its servicing personnel. The Purchaser agrees that
it has no right to deal with the mortgagor. However, if the
Company's normal foreclosure policies include acceptance of a
deed-in-lieu of foreclosure or short payoff, the Purchaser will
be notified and given two Business Days to respond.
(c) With respect to any Mortgage Loan as to which the
Purchaser has made an Election to Delay Foreclosure, the
Purchaser shall obtain a Current Appraisal as soon as
practicable, and shall provide the Company with a copy of such
Current Appraisal.
(d) Within two Business Days of making any Election to
Delay Foreclosure, the Purchaser shall remit by wire transfer to
the Trustee, for deposit in the Collateral Fund, an amount, as
calculated by the Company, equal to the sum of (i) 125% of the
greater of the Scheduled Principal Balance of the Mortgage Loan
and the value shown in the Current Appraisal referred to in
subsection (c) above (or, if such Current Appraisal has not yet
been obtained, the Company's estimate thereof, in which case the
required deposit under this subsection shall be adjusted upon
obtaining such Current Appraisal), and (ii) three months'
interest on the Mortgage Loan at the applicable Mortgage Rate. If
any Election to Delay Foreclosure extends for a period in excess
of three months (such excess period being referred to herein as
the "Excess Period"), the Purchaser shall remit by wire transfer
in advance to the Trustee for deposit in the Collateral Fund the
amount of each additional month's interest, as calculated by the
Company, equal to interest on the Mortgage Loan as the applicable
Mortgage Rate for the Excess Period. The terms of this Agreement
will no longer apply to the servicing of any Mortgage Loan upon
the failure of the Purchaser to deposit the above amounts
relating to the Mortgage Loan within two Business Days of (i) the
Election to Delay Foreclosure or (ii) the beginning of the
related Excess Period, as the case may be.
(e) With respect to any Mortgage Loan as to which the
Purchaser has made an Election to Delay Foreclosure, the Company
or the Trustee may withdraw from the Collateral Fund from time to
time amounts necessary to reimburse the Company for all related
Monthly Advances and Liquidation Expenses thereafter made by the
Company as Servicer in accordance with the Pooling and Servicing
Agreement. To the extent that the amount of any such Liquidation
Expense is determined by the Company based on estimated costs,
and the actual costs are subsequently determined to be higher,
the Company or the Trustee may withdraw the additional amount
from the Collateral Fund to reimburse the Company. In the event
that the Mortgage Loan is brought current by the mortgagor, the
amounts so withdrawn from the Collateral Fund shall be
redeposited therein as and to the extent that reimbursement
therefor from amounts paid by the mortgagor is not prohibited
pursuant to the Pooling and Servicing Agreement as of the date
hereof. Except as provided in the preceding sentence, amounts
withdrawn from the Collateral Fund to cover Monthly Advances and
Liquidation Expenses shall not be redeposited therein or
otherwise reimbursed to the Purchaser. If and when any such
Mortgage Loan is brought current by the mortgagor, all amounts
remaining in the Collateral Fund in respect of such Mortgage Loan
(after adjustment for all previous withdrawals and deposits
pursuant to this
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<PAGE>
subsection and after reimbursement to the Servicer for all
related Monthly Advances) shall be released to the Purchaser.
(f) With respect to any Mortgage Loan as to which the
Purchaser has made an Election to Delay Foreclosure, the Company
shall continue to service the Mortgage Loan in accordance with
its customary procedures (other than the delay in Commencement of
Foreclosure as provided herein). If and when, following such
election, the Purchaser shall notify the Company that it believes
that it is appropriate to do so, the Company shall proceed with
the Commencement of Foreclosure; provided that, in any event, if
the Mortgage Loan is not brought current by the mortgagor by the
time the loan becomes 6 months delinquent, the Purchaser's
election shall no longer be effective, unless the Purchaser shall
have purchased the related Mortgage Loan promptly following (and
in any event not later than the third Business Day after) the end
of such 6-month period in the manner provided in the following
two sentences, and the Company shall be entitled to proceed with
the Commencement of Foreclosure. Any purchase of such Mortgage
Loan by the Purchaser pursuant to the preceding sentence shall be
at a purchase price equal to the unpaid principal balance of the
Mortgage Loan plus accrued interest at the Mortgage Rate from the
date last paid by the mortgagor. Such purchase price shall be
deposited by the Purchaser into the Collateral Fund in
immediately available funds on the Business Day which is the date
of purchase and the Purchaser shall instruct the Trustee (with
notice to the Company) to withdraw such amount therefrom on such
Business Day and remit the same to the Trust Fund for application
as Liquidation Proceeds pursuant to the Pooling and Servicing
Agreement. Following such withdrawal, all amounts remaining in
the Collateral Fund in respect of such Mortgage Loan (after
adjustment for all previous withdrawals and deposits pursuant to
this Agreement and after reimbursement to the Servicer for all
related Monthly Advances) shall be released to the Purchaser.
(g) Upon the occurrence of a liquidation with respect to
any Mortgage Loan as to which the Purchaser made an Election to
Delay Foreclosure and as to which the Company proceeded with the
Commencement of Foreclosure in accordance with subsection (f)
above, the Company shall calculate the amount, if any, by which
the value shown on the Current Appraisal obtained under
subsection (c) exceeds the actual sales price obtained for the
related Mortgaged Property (net of Liquidation Expenses and
unreimbursed Monthly Advances related to the extended foreclosure
period), and the Company or the Trustee shall withdraw the amount
of such excess from the Collateral Fund and shall remit the same
to the Trust Fund for application as additional Liquidation
Proceeds pursuant to the Pooling and Servicing Agreement. After
making such withdrawal, all amounts remaining in the Collateral
Fund in respect of such Mortgage Loan (after adjustment for all
withdrawals and deposits pursuant to subsection (e) and after
reimbursement to the Servicer for all related Monthly Advances)
shall be released to the Purchaser.
Section 2.03. Purchaser's Election to Commence Foreclosure
Proceedings.
(a) In connection with any Mortgage Loan identified in a
report under Section 2.01(a)(i)(B), the Purchaser may elect to
instruct the Company to proceed with the
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<PAGE>
Commencement of Foreclosure as soon as practicable. Such election
must be evidenced by written notice received by the Company by
5:00 p.m., New York City time, on the third Business Day
following the delivery of such report under Section 2.01(a)(i).
(b) Within two Business Days of making any Election to
Foreclose, the Purchaser shall remit to the Trustee, for deposit
in the Collateral Fund, an amount, as calculated by the Company,
equal to 125% of the current Scheduled Principal Balance of the
Mortgage Loan and three months' interest on the Mortgage Loan at
the applicable Mortgage Rate. If and when any such Mortgage Loan
is brought current by the mortgagor, all amounts in the
Collateral Fund in respect of such Mortgage Loan (after
adjustment for all withdrawals and deposits pursuant to
subsection (c) below) shall be released to the Purchaser. The
terms of this Agreement will no longer apply to the servicing of
any Mortgage Loan upon the failure of the Purchaser to deposit
the above amounts relating to the Mortgage Loan within two
Business Days of the Election to Foreclose.
(c) With respect to any Mortgage Loan as to which the
Purchaser has made an Election to Foreclose, the Company shall
continue to service the Mortgage Loan in accordance with its
customary procedures. In connection therewith, the Company shall
have the same rights to make withdrawals for Monthly Advances and
Liquidation Expenses from the Collateral Fund as are provided
under Section 2.02(e), and the Company shall make reimbursements
thereto to the limited extent provided under such subsection. The
Company shall not be required to proceed with the Commencement of
Foreclosure if (i) the same is stayed as a result of the
mortgagor's bankruptcy or is otherwise barred by applicable law,
or to the extent that all legal conditions precedent thereto have
not yet been complied with, or (ii) the Company believes there is
a breach of representations or warranties by the Company, which
may result in a repurchase or substitution of such Mortgage Loan,
or (iii) the Company has or expects to have the right under the
Pooling and Servicing Agreement to purchase the defaulted
Mortgage Loan and intends to exercise such right or (iv) the
Company reasonably believes the Mortgaged Property may be
contaminated with or affected by hazardous wastes or hazardous
substances (and the Company supplies the Purchaser with
information supporting such belief) or (v) the same is prohibited
by or is otherwise inconsistent with the provisions of the
Pooling and Servicing Agreement. Any foreclosure that has been
initiated may be discontinued (i) without notice to the Purchaser
if the Mortgage Loan has been brought current or if a refinancing
or prepayment occurs with respect to the Mortgage Loan (including
by means of a short payoff approved by the Purchaser) or (ii)
with notice to the Purchaser if the Company has reached the terms
of a forbearance agreement unless instructed otherwise by the
Purchaser within two Business Days of notification.
(d) Upon the occurrence of a liquidation with respect to
any Mortgage Loan as to which the Purchaser made an Election to
Foreclose and as to which the Company proceeded with the
Commencement of Foreclosure in accordance with subsection (c)
above, the Company shall calculate the amount, if any, by which
the Scheduled Principal Balance of the Mortgage Loan at the time
of liquidation (plus all unreimbursed Monthly Advances and
Liquidation Expenses in connection therewith other than those
previously paid from the Collateral Fund) exceeds the actual
sales price obtained for the related Mortgaged Property, and the
Company or the Trustee
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<PAGE>
shall withdraw the amount of such excess from the Collateral Fund
and shall remit the same to the Trust Fund for application as
additional Liquidation Proceeds pursuant to the Pooling and
Servicing Agreement. After making such withdrawal, all amounts
remaining in the Collateral Fund (after adjustment for all
withdrawals and deposits pursuant to subsection (c) above and
after reimbursement to the Servicer for all related Monthly
Advances) in respect of such Mortgage Loan shall be released to
the Purchaser.
Section 2.04. Termination.
(a) With respect to all Mortgage Loans included in the
Trust Fund, the Purchaser's right to make any Election to Delay
Foreclosure or any Election to Foreclose and the Company's
obligations under Section 2.01 shall terminate on the earliest to
occur of the following: (i) at such time as the Class Certificate
Principal Balance of the Class B_ Certificates has been reduced
to zero, (ii) if the greater of (x) 43% (or such lower or higher
percentage that represents the Company's actual loss experience
with respect to the Mortgage Loans in the related pool) of the
aggregate principal balance of all Mortgage Loans that are in
foreclosure or are more than 90 days delinquent on a contractual
basis and the aggregate book value of REO properties or (y) the
aggregate amount that the Company estimates through its normal
servicing practices will be required to be withdrawn from the
Collateral Fund with respect to Mortgage Loans as to which the
Purchaser has made an Election to Delay Foreclosure or an
Election to Foreclose exceeds (z) the then-current Class
Certificate Principal Balance of the Class B_ Certificates, or
(iii) upon any transfer by the Purchaser of any interest (other
than the minority interest therein, but only if the transferee
provides written acknowledgment to the Company of the Purchaser's
right hereunder and that such transferee will have no rights
hereunder) in the Class B_ Certificates [or in the Class B5
Certificates] (whether or not such transfer is registered under
the Pooling and Servicing Agreement), including any such transfer
in connection with a termination of the Trust Fund. Unless
earlier terminated as set forth herein, this Agreement and the
respective rights, obligations and responsibilities of the
Purchaser and the Company hereunder shall terminate immediately
upon (x) the later to occur of (i) the final liquidation of the
last Mortgage Loan as to which the Purchaser made any Election to
Delay Foreclosure or any Election to Foreclose and the withdrawal
of all remaining amounts in the Collateral Fund as provided
herein and (ii) ten (10) Business Days' notice or (y) the
occurrence of any event that results in the Purchaser becoming an
"affiliate" of the Trustee within the meaning of the Prohibited
Transaction Exemption (as defined in the Pooling and Servicing
Agreement).
(b) The Purchaser's rights pursuant to Section 2.02 or 2.03
of this Agreement shall terminate with respect to a Mortgage Loan
as to which the Purchaser has exercised its rights under Section
2.02 or 2.03 hereof, upon Purchaser's failure to deposit any
amounts required pursuant to Section 2.02(d) or 2.03(b) after one
Business Day's notice of such failure.
Section 2.05. Notification. The Purchaser shall promptly
notify the Trustee and the Company if such Purchaser becomes
aware of any discussions, plans or events that might lead to such
Person's becoming an "affiliate" (within the meaning of the
Prohibited Transaction
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<PAGE>
Exemption) of the Trustee, provided that the contents of any such
notification shall be kept confidential by the parties to this
Agreement.
ARTICLE III
COLLATERAL FUND; SECURITY INTEREST
Section 3.01. Collateral Fund. Upon payment by the
Purchaser of the initial amount required to be deposited in the
Collateral Fund pursuant to Article II, the Company shall request
the Trustee to establish and maintain with the Trustee a
segregated account entitled "REMIC Multi-Class Pass-Through
Certificates 199_-__ Collateral Fund, for the benefit of GE
Capital Mortgage Services, Inc. and State Street Bank and Trust
Company on behalf of Certificateholders, as secured parties" (the
"Collateral Fund"). Amounts held in the Collateral Fund shall
continue to be the property of the Purchaser, subject to the
first priority security interest granted hereunder for the
benefit of such secured parties, until withdrawn from the
Collateral Fund pursuant to the Section 2.02 or 2.03 hereof.
Upon the termination of this Agreement and the
liquidation of all Mortgage Loans as to which the Purchaser has
made any Election to Delay Foreclosure or any Election to
Foreclose pursuant to Section 2.04 hereof, the Company shall
distribute to the Purchaser all amounts remaining in the
Collateral Fund together with any investment earnings thereon
(after giving effect to all withdrawals therefrom permitted under
this Agreement).
The Purchaser shall not take or direct the Company or
the Trustee to take any action contrary to any provision of the
Pooling and Servicing Agreement. In no event shall the Purchaser
(i) take or cause the Trustee or the Company to take any action
that could cause any REMIC established under the Pooling and
Servicing Agreement to fail to qualify as a REMIC or cause the
imposition on any such REMIC of any "prohibited transaction" or
"prohibited contribution" taxes or (ii) cause the Trustee or the
Company to fail to take any action necessary to maintain the
status of any such REMIC as a REMIC.
Section 3.02. Collateral Fund Permitted Investments. The
Company shall, at the written direction of the Purchaser, direct
the Trustee to invest the funds in the Collateral Fund in the
name of the Trustee in Collateral Fund Permitted Investments.
Such direction shall not be changed more frequently then
quarterly. In the absence of any direction, the Company shall
direct the Trustee select such investments in accordance with the
definition of Collateral Fund Permitted Investments in its
discretion
All income and gain realized from any investment as
well as any interest earned on deposits in the Collateral Fund
(net of any losses on such investments) and any payments of
principal made in respect of any Collateral Fund Permitted
Investment shall be deposited in the Collateral Fund upon
receipt. All costs and realized losses associated with the
purchase and sale of Collateral Fund Permitted Investments shall
be borne by the Purchaser and the amount of net realized losses
shall be promptly deposited by the Purchaser in the Collateral
Fund. The Company shall periodically (but not more frequently
than monthly) direct the Trustee to
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<PAGE>
distribute to the Purchaser upon request an amount of cash, to
the extent cash is available therefor in the Collateral Fund,
equal to the amount by which the balance of the Collateral Fund,
after giving effect to all other distributions to be made from
the Collateral Fund on such date, exceeds the Required Collateral
Fund Balance. Any amounts so distributed shall be released from
the lien and security interest of this Agreement.
Section 3.03. Grant of Security Interest. In order to
secure the obligations of the Purchaser hereunder to the Company
and the Trustee for the benefit of Certificateholders (other than
its obligations under Section 4.10), the Purchaser hereby grants
to the Company and to the Trustee for the benefit of the
Certificateholders a security interest in and lien on all of the
Purchaser's right, title and interest, whether now owned or
hereafter acquired, in and to: (1) the Collateral Fund, (2) all
amounts deposited in the Collateral Fund and Collateral Fund
Permitted Investments in which such amounts are invested (and the
distributions and proceeds of such investments) and (3) all cash
and non-cash proceeds of any of the foregoing, including proceeds
of the voluntary or involuntary conversion thereof (all of the
foregoing collectively, the "Collateral").
The Purchaser acknowledges the lien on and security
interest in the Collateral for the benefit of the Company and the
Trustee on behalf of the Certificateholders. The Purchaser shall
take all actions requested by the Company or the Trustee as may
be reasonably necessary to perfect the security interest created
under this Agreement in the Collateral and cause it to be prior
to all other security interests and liens, including the
execution and delivery to the Company or at its direction the
Trustee for filing of appropriate financing statements in
accordance with applicable law.
Section 3.04. Collateral Shortfalls. In the event that
amounts on deposit in the Collateral Fund at any time are
insufficient to cover any withdrawals therefrom that the Company
or the Trustee is then entitled to make hereunder, the Purchaser
shall be obligated to pay such amounts to the Company or the
Trustee immediately upon demand. Such obligation shall constitute
a general corporate obligation of the Purchaser. The failure to
pay such amounts within two Business Days of such demand (except
for amounts to cover interest on a Mortgage Loan pursuant to
Sections 2.02(d) and 2.03(b)), shall cause an immediate
termination of the Purchaser's right to make any Election to
Delay Foreclosure or Election to Foreclose and the Company's
obligations under this Agreement with respect to all Mortgage
Loans to which such insufficiencies relate, without the necessity
of any further notice or demand on the part of the Company.
ARTICLE IV
MISCELLANEOUS PROVISIONS
Section 4.01. Amendment. This Agreement may be amended from
time to time by the Company and the Purchaser by written
agreement signed by the Company and the Purchaser provided that
no such amendment shall have a material adverse effect on the
holders of other Classes of Certificates.
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<PAGE>
Section 4.02. Counterparts. This Agreement may be executed
simultaneously in any number of counterparts, each of which
counterparts shall be deemed to be an original, and such
counterparts shall constitute but one and the same instrument.
Section 4.03. Governing Law. This Agreement shall be
construed in accordance with the laws of the State of New York
and the obligations, rights and remedies of the parties hereunder
shall be determined in accordance with such laws.
Section 4.04. Notices. All demands, notices and direction
hereunder shall be in writing or by telecopy and shall be deemed
effective upon receipt to:
(a) in the case of the Company, with respect to notices
pursuant to Sections 2.02 and 2.03 hereto,
GE Capital Mortgage Services, Inc.
2000 West Loop South
Suite 1917
Houston, Texas 77027
Attention: Mark Pendergrass
Telephone: (713) 964-4207
Facsimile: (713) 964-4100
with respect to all other notices pursuant to this
Agreement,
GE Capital Mortgage Services, Inc.
Three Executive Campus
Cherry Hill, New Jersey 08002
Attention: General Counsel
Telephone: (609) 661-6515
Facsimile: (609) 661-6875
or such other address as may hereafter be furnished in
writing by the Company, or
(b) in the case of the Purchaser, with respect to notices
pursuant to Section 2.01,
________________________________
________________________________
________________________________
Attention:______________________
Telephone:______________________
Facsimile:______________________
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<PAGE>
with respect to all other notices pursuant to this
Agreement,
________________________________
________________________________
________________________________
Attention:______________________
Telephone:______________________
Facsimile:______________________
or such other address as may hereafter be furnished in
writing by the Purchaser, or
(c) in the case of the Trustee,
State Street Bank and Trust Company
Corporate Trust Department
Two International Place, Fifth Floor
Boston, Massachusetts 02110
Attention: Karen Beard
Telephone: (617) 664-5465
Facsimile: (617) 664-5367
Section 4.05. Severability of Provisions. If any one or
more of the covenants, agreements, provisions or terms of this
Agreement shall be for any reason whatsoever, including
regulatory, held invalid, then such covenants, agreements,
provisions or terms shall be deemed severable from the remaining
covenants, agreements, provisions or terms of this Agreement and
shall in no way affect the validity or enforceability of the
other provisions of this Agreement.
Section 4.06. Successor and Assigns. The provisions of this
Agreement shall be binding upon and inure to the benefit of the
parties hereto and the respective successors and assigns of the
parties hereto; provided, however, that the rights under this
Agreement cannot be assigned by the Purchaser without the consent
of the Company.
Section 4.07. Article and Section Headings. The article and
section headings herein are for convenience of reference only and
shall not limit or otherwise affect the meaning hereof.
Section 4.08. Third Party Beneficiaries. The Trustee on
behalf of Certificateholders is the intended third party
beneficiary of this Agreement.
Section 4.09. Confidentiality. The Purchaser agrees that
all information supplied by or on behalf of the Company pursuant
to Section 2.01 or 2.02, including individual account
information, is the property of the Company and the Purchaser
agrees to use such information solely for the purposes set forth
in this Agreement and to hold such information confidential and
not to disclose such information.
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<PAGE>
Section 4.10. Indemnification. The Purchaser agrees to
indemnify and hold harmless the Company against any and all
losses, claims, damages or liabilities to which it may be
subject, insofar as such losses, claims, damages or liabilities
(or actions in respect thereof) arise out of or are based upon
actions taken by the Company in accordance with the provisions of
this Agreement and which actions conflict or are alleged to
conflict with the Company's obligations under the Pooling and
Servicing Agreement. The Purchaser hereby agrees to reimburse the
Company on demand for the reasonable legal or other expenses
incurred by it in connection with investigating or defending any
such loss, claim, damage, liability or action.
[Section 4.11. Delayed Effectiveness. The Purchaser agrees
that, notwithstanding any other provision of this Agreement, the
Purchaser shall have no rights hereunder, and the Company shall
have no obligations hereunder, until the Class Certificate
Principal Balance of the Class B5 Certificates has been reduced
to zero and any Special Servicing and Collateral Fund Agreement
between the Company and the Purchaser relating to such Class B5
Certificates has been terminated.]
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<PAGE>
IN WITNESS WHEREOF, the Company and the Purchaser have
caused their names to be signed hereto by their respective
officers thereunto duly authorized, all as of the day and year
first above written.
GE CAPITAL MORTGAGE SERVICES, INC.
By:_______________________________
Name:
Title:
[PURCHASER]
By:_______________________________
Name:
Title:
Acknowledged and agreed to:
STATE STREET BANK AND TRUST COMPANY
By:________________________________
Name:
Title:
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<PAGE>
EXHIBIT L
FORM OF LOST NOTE AFFIDAVIT AND AGREEMENT
I, _________________________________________, being
duly sworn, do hereby state under oath that:
1. I am a duly elected ______________________ of GE Capital
Mortgage Services, Inc. (the "Company") and am duly authorized to
make this affidavit.
2. This affidavit is being delivered in connection with the
transfer of the Mortgage Loan described in Paragraph 3 hereof by
the Company pursuant to the Pooling and Servicing Agreement dated
as of [date] between the Company, Seller and Servicer, and State
Street Bank and Trust Company, Trustee, relating to the Company's
REMIC Multi-Class Pass-Through Certificates, Series [____]
("Agreement"). Such Mortgage Loan constitutes a Designated Loan.
3. The Company is the payee under the following described
Mortgage Note ("Mortgage Note") which evidences the obligation of
the borrower(s) to repay the Mortgage Loan:
Loan Number: ___________________________________
Mortgage Note Date:_____________________________
Borrower(s): ___________________________________
Original Payee (if not the Company): ___________
Original Amount:________________________________
Mortgage Rate: _________________________________
Address of Mortgaged Property: _________________
________________________________________________
4. The Company is the lawful owner of the Mortgage Note and
has not cancelled, altered, assigned or hypothecated the Mortgage
Note.
5. A thorough and diligent search for the executed original
Mortgage Note was undertaken and was unsuccessful.
6. Attached hereto is a true and correct copy of the
Mortgage Note.
7. The Mortgage Note has not been endorsed by the Company
in any manner inconsistent with its transfer of the Mortgage Loan
under the Agreement.
8. Without limiting the generality of the rights and
remedies of the Trustee contained in the Agreement, the Company
hereby confirms and agrees that in the event the inability to
produce the executed original Mortgage Note results in a breach
of the representations and warranties appearing in Agreement
subsections 2.03(a)(ii) (the validity and enforceability of the
<PAGE>
lien created by the Mortgage Loan) or (x) (no valid offset,
defense or counterclaim to any Mortgage Note or Mortgage), the
Company shall repurchase the Mortgage Loan at the Purchase Price
and otherwise in accordance with Section 2.03(b) of the
Agreement. In addition, the Company covenants and agrees to
indemnify the Trustee and the Trust Fund from and hold them
harmless against any and all losses, liabilities, damages, claims
or expenses (other than those resulting from negligence or bad
faith of the Trustee) arising from the Company's failure to have
delivered the Mortgage Note to the Trustee, including without
limitation any such losses, liabilities, damages, claims or
expenses arising from any action to enforce the indebtedness
evidenced by the Mortgage Note or any claim by any third party
who is the holder of such indebtedness by virtue of possession of
the Mortgage Note.
9. In the event that the Company locates the executed
original Mortgage Note, it shall promptly provide the Mortgage
Note to the Trustee.
10. Capitalized terms not otherwise defined herein shall
have the meanings given them in the Agreement.
Date: _______________________
_____________________________
(signature)
_____________________________
(print name)
_____________________________
(print title)
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<PAGE>
State of New Jersey )
)ss:
)
On this ____________________day of _____________,
199__, before me appeared ____________________________, to me
personally known, who acknowledged the execution of the foregoing
and who, having been duly sworn states that he/she is a/the
______________________________of GE Capital Mortgage Services,
Inc., that any representations therein contained are true, that
this Lost Note Affidavit was signed and sealed on behalf of GE
Capital Mortgage Services, Inc. and that this Lost Note Affidavit
is the free act and deed of GE Capital Mortgage Services, Inc.
____________________________
(Notary Public)
[Notarial Seal]
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<PAGE>
EXHIBIT M
SCHEDULE OF DESIGNATED LOANS
SERIES 1998-15
LOAN NO. ORIGINAL AMOUNT BORROWER NAME
31380173 $272,000.00 Wells
PERCENTAGE OF POOL: LESS THAN 0.06%
<PAGE>
EXHIBIT N
SCHEDULE OF PLEDGED ASSET MORTGAGE LOANS
None
<PAGE>
EXHIBIT O
SENIOR PRINCIPAL PRIORITIES
<PAGE>
third, to the Senior Certificates, in reduction of the
Class Certificate Principal Balances thereof, to the extent of
remaining Available Funds, concurrently as follows:
(a) to the Class A11 Certificates (the "Group II
Senior Certificates"), the Group II Senior Principal
Distribution Amount (as defined herein) for such
Distribution Date, until the Class Certificate Principal
Balance thereof has been reduced to zero;
(b) to the Class Al, Class A2, Class A3, Class
A4, Class A5, Class A6, Class A7, Class A8, Class A9, Class
A10 and Class R Certificates (together, the "Group I Senior
Certificates"), the Senior Optimal Principal Amount for
such Distribution Date less the Group II Senior Principal
Distribution Amount for such Distribution Date, in the
following order of priority:
(i) to the Class R Certificates, until the
Class Certificate Principal Balance thereof has been
reduced to zero;
(ii) concurrently, to the Class Al and Class
A2 Certificates, approximately 80.0992478253% and
19.9007521747%, respectively, of the remaining amount
set forth in clause (b) until the Class Certificate
Principal Balance of the Class Al Certificates has
been reduced to zero;
(iii) to the Class A2, Class A5, Class A6,
Class A7, Class A8, Class A9 and Class A10
Certificates, the remaining amount set forth in clause
(b), concurrently, as follows:
(A) to the Class A2 Certificates,
approximately 54.7091193188% of the amount
described in clause (b)(iii) above, until the
Class Certificate Principal Balance thereof has
been reduced to zero;
(B) to the Class A5, Class A6 and Class
A7 Certificates, approximately 11.3227201703% of
the amount described in clause (b)(iii) above, in
the following order of priority:
(I) to the Class A5 Certificates,
until the Class Certificate Principal
Balance thereof has been reduced to zero;
(II) to the Class A6 Certificates,
until the Class Certificate Principal
Balance thereof has been reduced to zero;
and
(III) to the Class A7
Certificates, until the Class Certificate
Principal Balance thereof has been reduced
to zero; and
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<PAGE>
(C) to the Class A8 Certificates,
approximately 19.4103784053% of the amount
described in clause (b)(iii) above, until the
Class Certificate Principal Balance thereof has
been reduced to zero;
(D) to the Class A9 Certificates,
approximately 11.3227201703% of the amount
described in clause (b)(iii) above, until the
Class Certificate Principal Balance thereof has
been reduced to zero; and
(E) to the Class A10 Certificates,
approximately 3.2350619353% of the amount
described in clause (b)(iii) above, until the
Class Certificate Principal Balance thereof has
been reduced to zero; and
(iv) pro rata, to the Class A3 and Class A4
Certificates, until the Class Certificate Principal
Balances thereof have each been reduced to zero; and
(c) to the Class PO Certificates, the Class PO
Principal Distribution Amount for such Distribution Date
until the Class Certificate Principal Balance thereof has
been reduced to zero.
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