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Previous: ANGELES INCOME PROPERTIES LTD V, 10QSB, 1998-05-12 |
Next: LAS VEGAS DISCOUNT GOLF & TENNIS INC, 10KSB, 1998-05-12 |
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) April 27, 1998
GE CAPITAL MORTGAGE SERVICES, INC.
(as Seller and Servicer under Pooling and
Servicing Agreements each providing for the
issuance of a Series of Mortgage Pass-Through Certificates)
GE Capital Mortgage Services, Inc.
----------------------------------
(formerly known as Travelers Mortgage Services, Inc.)
(Exact name of registrant as specified in its charter)
New Jersey 33-5042 21-0627285
---------- ------- ----------
(State or Other (Commission (I.R.S. Employer
Jurisdiction of File Number) Identification No.)
Incorporation)
Three Executive Campus
Cherry Hill, New Jersey 08002
----------------------- -----
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including
area code (609) 661-6100
<PAGE>
Item 5. Other Events
- ------- ------------
On April 27, 1998 GE Capital Mortgage Services, Inc. ("GECMSI") passed
through to Certificateholders of Mortgage Pass-Through Certificates principal
and interest payments as required for the various Series of Mortgage
Pass-Through Certificates listed below and as detailed in Item 7, Financial
Statements, Pro Forma Financial Information and Exhibits, of this Report.
Series Distribution on Series
- ------ ----------------------
Series 1998-01 $4,943,021.11
-------------
Series 1998-02 $12,169,988.03
--------------
Series 1998-03 $6,398,931.30
-------------
Series 1998-04 $8,605,793.20
-------------
Series 1998-HE $2,377,646.46
-------------
Series 1998-05 $8,005,787.41
-------------
Series 1998-6A $2,027,567.88
-------------
Series 1998-6B $3,185,168.85
-------------
Series 1998-07 $3,877,921.64
<PAGE>
Item 7. Financial Statements and Exhibits
- ------- ---------------------------------
Attached as Exhibits to Item 7 are the "Servicer's Certificate" and the
"Distribution Date Statement" filed as part of this Report.
Series Exhibit No. Description
------ ----------- -----------
Series 1998-01 99.1 Servicer's Certificate
99.2 Monthly Statement
Series 1998-02 99.3 Servicer's Certificate
99.4 Monthly Statement
Series 1998-03 99.5 Servicer's Certificate
99.6 Monthly Statement
Series 1998-04 99.7 Servicer's Certificate
99.8 Monthly Statement
Series 1998-HE1 99.9 Servicer's Certificate
99.10 Distribution Date Statement
Series 1998-05 99.11 Servicer's Certificate
99.12 Monthly Statement
Series 1998-6A 99.13 Servicer's Certificate
99.14 Monthly Statement
Series 1998-6B 99.15 Servicer's Certificate
99.16 Monthly Statement
Series 1998-07 99.17 Servicer's Certificate
99.18 Monthly Statement
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
------------------------------------
Name: Karen Pickett
Title: Vice President, Investor Reporting
Dated as of : May 1, 1998
<PAGE>
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
- ----------- -----------
99.1 Series 1998-01 Servicer's Certificate
99.2 Series 1998-01 Monthly Statement
99.3 Series 1998-02 Servicer's Certificate
99.4 Series 1998-02 Monthly Statement
99.5 Series 1998-03 Servicer's Certificate
99.6 Series 1998-03 Monthly Statement
99.7 Series 1998-04 Servicer's Certificate
99.8 Series 1998-04 Monthly Statement
99.9 Series 1998-HE1 Servicer's Certificate
99.10 Series 1998-HE1 Distribution Date Statement
99.11 Series 1998-05 Servicer's Certificate
99.12 Series 1998-05 Monthly Statement
99.13 Series 1998-6A Servicer's Certificate
99.14 Series 1998-6A Monthly Statement
99.15 Series 1998-6B Servicer's Certificate
99.16 Series 1998-6B Monthly Statement
99.17 Series 1998-07 Servicer's Certificate
99.18 Series 1998-07 Monthly Statement
Exhibit 99.1
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
April, 1998
Series 1998-01, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1998
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate scheduled Monthly Payments:
(a) Principal $ 606,950.79
-----------------------
(b) Interest $ 1,163,022.56
-----------------------
(c) Total $ 1,769,973.35
-----------------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 239,531.52
-----------------------
(b) Interest $ 454,874.77
-----------------------
(c) Total $ 694,406.29
-----------------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 367,419.27
-----------------------
(b) Interest $ 708,147.79
-----------------------
(c) Total $ 1,075,567.06
-----------------------
4. Aggregate Principal Prepayments in part received in the applicable
Prepayment Period:
(a) Principal $ 82,416.98
-----------------------
5. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $ 3,180,619.29
-----------------------
(b) Interest $ 19,501.01
-----------------------
(c) Total $ 3,200,120.30
-----------------------
6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
-----------------------
(b) Interest $ 0.00
-----------------------
(c) Total $ 0.00
-----------------------
<PAGE>
7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
-----------------------
(b) Interest $ 0.00
-----------------------
(c) Total $ 0.00
-----------------------
8. Aggregate Deficient Valuations with respect to the Mortgage
Loans during the prior month: $ 0.00
-----------------------
9. Aggregate Debt Service Reductions with respect to the Mortgage Loans during
the prior month: $ 0.00
-----------------------
10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
-----------------------
(b) Interest $ 0.00
-----------------------
(c) Total $ 0.00
-----------------------
11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 0.00
-----------------------
(b) Interest $ 0.00
-----------------------
(c) Total $ 0.00
-----------------------
12. Pool Scheduled Principal Balance: $ 187,047,249.90
----------------------
13. Available Funds: $ 4,943,021.11
----------------------
14. Realized Losses for prior month: $ 0.00
----------------------
15. Aggregate Realized Losses
(a) Aggregate Realized Losses: $ 0.00
-----------------------
(b) Deficient Valuations: $ 0.00
-----------------------
(c) Debt Service Reductions: $ 0.00
-----------------------
(d) Bankruptcy Losses: $ 0.00
-----------------------
(e) Special Hazard Losses: $ 0.00
-----------------------
(f) Fraud Losses: $ 0.00
-----------------------
(g) Excess Bankruptcy Losses: $ 0.00
-----------------------
(h) Excess Special Hazard Losses: $ 0.00
-----------------------
(i) Excess Fraud Losses: $ 0.00
-----------------------
16. Non-Credit Losses: $ 0.00
-----------------------
17. Compensating Interest Payment: $ 3,883.67
-----------------------
18. Total interest payments: $ 1,073,034.06
-----------------------
<PAGE>
19. Interest
Unpaid Class
Accrued Certificate Interest Interest
Class Interest Shortfalls Payable Pay-out Rate
- ----- -------- ---------- ------- ------------
R $ 0.00 $ 0.00 $ 0.00 % 0.000000000
PO $ 0.00 $ 0.00 $ 0.00 % 0.000000000
A1 $ 335,850.87 $ 0.00 $ 335,850.87 % 6.749999994
A2 $ 563,463.52 $ 0.00 $ 563,463.52 % 6.749999991
A3 $ 148,539.79 $ 0.00 $ 148,539.79 % 6.750000071
M $ 8,393.13 $ 0.00 $ 8,393.13 % 6.749997512
B1 $ 5,595.41 $ 0.00 $ 5,595.41 % 6.749996713
B2 $ 2,797.69 $ 0.00 $ 2,797.69 % 6.749994315
B3 $ 4,476.34 $ 0.00 $ 4,476.34 % 6.750006343
B4 $ 1,678.62 $ 0.00 $ 1,678.62 % 6.750018397
B5 $ 2,238.69 $ 0.00 $ 2,238.69 % 6.750001244
20. Principal Distribution Amount: $ 3,869,987.05
------------------------
21. Principal Distribution Amount per Certificate:
Principal Distribution Accrual Amount
---------------------- --------------
Class R $ 0.00 $ 0.00
Class PO $ 619.46 $ 0.00
Class A1 $ 1,235,621.72 $ 0.00
Class A2 $ 2,535,572.39 $ 0.00
Class A3 $ 83,943.68 $ 0.00
Class SUP $ 0.00 $ 0.00
Class M $ 4,743.18 $ 0.00
Class B1 $ 3,162.11 $ 0.00
Class B2 $ 1,581.05 $ 0.00
Class B3 $ 2,529.69 $ 0.00
Class B4 $ 948.63 $ 0.00
Class B5 $ 1,265.14 $ 0.00
22. Additional distributions to the Class R Certificate pursuant to the
Agreement: $ 0.00
---------------------
23. Additional distributions to the Class RL Certificate pursuant to the
Agreement: $ 0.00
---------------------
24. Subordinate Certificate Writedown Amount: $ 0.00
---------------------
25. Unanticipated Recoveries: $ 0.00
---------------------
<PAGE>
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution
Triggers satisfied: Yes No
--- --
Class-B1 X
Class-B2 X
Class-B3 X
Class-B4 X
Class-B5 X
2. Base Servicing Fee amount: $ 44,733.39
-----------------------
3. Supplemental Servicing Fee amount: $ 66,867.72
-----------------------
4. Credit Losses for prior month: $ 0.00
-----------------------
Category A Category B Category C
5. Senior Percentage: % 97.653394 N/A N/A N/A
----------- ------- -------- --------
6. Group I Senior
Percentage: % N/A N/A N/A N/A
----------- ------- -------- --------
7. Group II Senior
Percentage: % N/A N/A N/A N/A
----------- ------- -------- --------
8. Senior Prepayment
Percentage: %100.000000 N/A N/A N/A
----------- ------- -------- --------
9. Group I Senior
Prepayment Percentage: % N/A N/A N/A N/A
----------- ------- -------- --------
10. Group II Senior
Prepayment Percentage: % N/A N/A N/A N/A
----------- ------- -------- --------
11. Junior Percentage: % 2.346606
-----------
12. Junior Prepayment
Percentage: % 0.000000
-----------
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
------------------------------------
Name: Karen Pickett
Title: Vice President
Investor Operations
Exhibit 99.2
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
April, 1998
Series 1998-01, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1998
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
Weighted average coupon % 7.440259
-------------------------
Weighted average maturity 173.76
-------------------------
A. Amount of distribution allocable to principal and interest:
The amounts below are for a Single Certificate of $1,000:
1.
Principal
Principal Per Prepayments Per Interest Per
Class Certificate Certificate Certificate Payout Rate
----- ----------- ----------- ----------- -----------
R $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
PO $ 3.95169625 $ 0.43391725 $ 0.00000000 % 0.00000000
A1 $ 19.71631913 $ 16.68778826 $ 5.35903734 % 6.74999999
A2 $ 23.85564739 $ 20.19129387 $ 5.30128310 % 6.74999999
A3 $ 3.15909568 $ 2.67384200 $ 5.59007431 % 6.75000007
M $ 3.15909780 $ 0.00000000 $ 5.59007216 % 6.74999751
B1 $ 3.15909307 $ 0.00000000 $ 5.59007148 % 6.74999671
B2 $ 3.15909886 $ 0.00000000 $ 5.59006943 % 6.74999432
B3 $ 3.15909162 $ 0.00000000 $ 5.59007949 % 6.75000634
B4 $ 3.15909886 $ 0.00000000 $ 5.59008942 % 6.75001840
B5 $ 3.15909234 $ 0.00000000 $ 5.59007574 % 6.75000124
2. Unanticipated Recoveries: $ 0.00
--------------
B. Accrual Amount
1.
Class Accrual Amount
N/A $ N/A
2. The amount of servicing compensation received by the Company during
the month preceding the month of distribution:
$ 44,733.39
-----------------
<PAGE>
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 187,047,249.90
-----------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 580
-----------------
3.
Beginning Aggregate Ending Aggregate Ending
Class Certificate Class Certificate Single Certificate
Class Principal Balance Principal Balance Balance Cusip
- ----- ----------------- ----------------- ------- -----
R $ 0.00 $ 0.00 $ 0.00 36157RCN3
PO $ 155,625.59 $ 155,006.13 $ 988.82 GEC9801PO
A1 $ 59,706,821.39 $ 58,471,199.67 $ 933.00 36157RCK9
A2 $ 100,171,292.58 $ 97,635,720.19 $ 918.59 36157RCL7
A3 $ 26,407,073.50 $ 26,323,129.82 $ 990.63 36157RCM5
SUP $ 178,468,932.01 $ 174,647,333.85 $ 930.69 GEC98001S
M $ 1,492,112.55 $ 1,487,369.37 $ 990.63 36157RCP8
B1 $ 994,740.04 $ 991,577.93 $ 990.63 36157RCQ6
B2 $ 497,367.53 $ 495,786.48 $ 990.63 36157RCR4
B3 $ 795,793.03 $ 793,263.34 $ 990.63 36157RCG8
B4 $ 298,420.52 $ 297,471.89 $ 990.63 36157RCH6
B5 $ 397,989.26 $ 396,724.12 $ 990.63 36157RCJ2
D. The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the
month preceding the related Determination Date, were delinquent:
1. 30-59 days
Number 6 Principal Balance $ 1,563,301.59
-------- ----------------
2. 60-89 days
Number 0 Principal Balance $ 0.00
-------- ----------------
3. 90 days or more
Number 0 Principal Balance $ 0.00
-------- ----------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
-------- ----------------
5. Real Estate Owned
Number 0 Principal Balance $ 0.00
-------- ----------------
6. The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to the Pooling And Servicing Agreement:
$ 0.00
---------------
E. Other Information:
1. Special Hazard Loss Amount: $ 2,621,837.00
--------------
2. Bankruptcy Loss Amount: $ 100,000.00
--------------
3. Fraud Loss Amount: $ 2,001,914.00
--------------
4. Certificate Interest Rate of the Class S
Certificate: % 0.44960915
--------------
Exhibit 99.3
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
April, 1998
Series 1998-02, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1998
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate scheduled Monthly Payments:
(a) Principal $ 314,827.74
--------------------
(b) Interest $ 2,721,127.42
--------------------
(c) Total $ 3,035,955.16
--------------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 285,200.44
--------------------
(b) Interest $ 2,468,436.19
--------------------
(c) Total $ 2,753,636.63
--------------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 29,627.30
--------------------
(b) Interest $ 252,691.23
--------------------
(c) Total $ 282,318.53
--------------------
4. Aggregate Principal Prepayments in part received in the applicable
Prepayment Period:
(a) Principal $ 81,970.92
--------------------
5. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $ 9,249,793.27
--------------------
(b) Interest $ 59,447.25
--------------------
(c) Total $ 9,309,240.52
--------------------
6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
--------------------
(b) Interest $ 0.00
--------------------
(c) Total $ 0.00
--------------------
<PAGE>
7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
--------------------
(b) Interest $ 0.00
--------------------
(c) Total $ 0.00
--------------------
8. Aggregate Deficient Valuations with respect to the Mortgage
Loans during the prior month: $ 0.00
--------------------
9. Aggregate Debt Service Reductions with respect to the Mortgage Loans
during the prior month: $ 0.00
--------------------
10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
--------------------
(b) Interest $ 0.00
--------------------
(c) Total $ 0.00
--------------------
11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 0.00
--------------------
(b) Interest $ 0.00
--------------------
(c) Total $ 0.00
--------------------
12. Pool Scheduled Principal Balance: $ 423,226,116.18
-------------------
13. Available Funds: $ 12,169,988.03
-------------------
14. Realized Losses for prior month: $ 0.00
------------------
15. Aggregate Realized Losses:
(a) Aggregate Realized Losses: $ 0.00
---------------------
(b) Deficient Valuations: $ 0.00
---------------------
(c) Debt Service Reductions: $ 0.00
---------------------
(d) Bankruptcy Losses: $ 0.00
---------------------
(e) Special Hazard Losses: $ 0.00
---------------------
(f) Fraud Losses: $ 0.00
---------------------
(g) Excess Bankruptcy Losses: $ 0.00
---------------------
(h) Excess Special Hazard Losses: $ 0.00
---------------------
(i) Excess Fraud Losses: $ 0.00
---------------------
16. Non-Credit Losses: $ 0.00
---------------------
17. Compensating Interest Payment: $ 8,001.75
---------------------
18. Total interest payments: $ 2,523,396.10
---------------------
<PAGE>
19. Interest
Unpaid Class
Accrued Certificate Interest Interest
Class Interest Shortfalls Payable Pay-out Rate
- ----- -------- ---------- ------- ------------
R $ 0.00 $ 0.00 $ 0.00 % 0.000000000
PO $ 0.00 $ 0.00 $ 0.00 % 0.000000000
A1 $ 113,897.57 $ 0.00 $ 113,897.57 % 6.999999790
A2 $ 21,583.33 $ 0.00 $ 21,583.33 % 6.999998919
A3 $ 140,934.04 $ 0.00 $ 140,934.04 % 6.999999868
A4 $ 143,272.50 $ 0.00 $ 143,272.50 % 7.000000000
A5 $ 198,686.24 $ 0.00 $ 198,686.24 % 6.999999853
A6 $ 351,524.10 $ 0.00 $ 351,524.10 % 7.000000092
A7 $ 57,166.67 $ 0.00 $ 57,166.67 % 7.000000408
A8 $ 5,736.48 $ 0.00 $ 5,736.48 % 7.250001488
A9 $ 27,495.56 $ 0.00 $ 27,495.56 % 6.949999034
A10 $ 19,250.00 $ 0.00 $ 19,250.00 % 7.000000000
A11 $ 128,377.21 $ 0.00 $ 128,377.21 % 6.999999919
A12 $ 1,203,871.82 $ 0.00 $ 1,203,871.82 % 7.000000019
M $ 45,953.13 $ 0.00 $ 45,953.13 % 6.999999394
B1 $ 26,258.93 $ 0.00 $ 26,258.93 % 6.999999016
B2 $ 13,129.47 $ 0.00 $ 13,129.47 % 7.000001697
B3 $ 13,129.47 $ 0.00 $ 13,129.47 % 7.000001697
B4 $ 3,937.68 $ 0.00 $ 3,937.68 % 7.000008681
B5 $ 9,191.90 $ 0.00 $ 9,191.90 % 7.000003357
20. Principal Distribution Amount: $ 9,646,591.93
----------------
21. Principal Distribution Amount per Certificate:
Principal Distribution Accrual Amount
---------------------- --------------
Class R $ 0.00 $ 0.00
Class PO $ 272.31 $ 0.00
Class A1 $ 682,438.84 $ 0.00
Class A2 $ 0.00 $ 0.00
Class A3 $ 637,280.12 $ 0.00
Class A4 $ 0.00 $ 0.00
Class A5 $ 0.00 $ 0.00
Class A6 $ 2,175,420.16 $ 0.00
Class A7 $ 0.00 $ 0.00
Class A8 $ 27,193.98 $ 0.00
Class A9 $ 135,970.04 $ 0.00
Class A10 $ 0.00 $ 0.00
Class A11 $ 16,004.17 $ 0.00
Class A12 $ 5,958,099.61 $ 0.00
Class SUP $ 0.00 $ 0.00
Class M $ 5,728.75 $ 0.00
Class B1 $ 3,273.57 $ 0.00
Class B2 $ 1,636.79 $ 0.00
Class B3 $ 1,636.79 $ 0.00
Class B4 $ 490.89 $ 0.00
Class B5 $ 1,145.91 $ 0.00
<PAGE>
22. Additional distributions to the Class R Certificate pursuant to the
Agreement: $ 0.00
--------------------
23. Additional distributions to the Class RL Certificate pursuant to the
Agreement: $ 0.00
--------------------
24. Subordinate Certificate Writedown Amount: $ 1.73
--------------------
25. Unanticipated Recoveries: $ 0.00
--------------------
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution
Triggers satisfied: Yes No
--- --
Class-B1 X
Class-B2 X
Class-B3 X
Class-B4 X
Class-B5 X
2. Base Servicing Fee amount: $ 97,806.24
--------------------
3. Supplemental Servicing Fee amount: $ 166,785.90
--------------------
4. Credit Losses for prior month: $ 0.00
--------------------
Category A Category B Category C
5. Senior Percentage: % 95.577366 N/A N/A N/A
---------- ------------ ----------- ------------
6. Group I Senior
Percentage: % N/A N/A N/A N/A
---------- ------------ ----------- ------------
7. Group II Senior
Percentage: % N/A N/A N/A N/A
---------- ------------ ----------- ------------
8. Senior Prepayment
Percentage: %100.000000 N/A N/A N/A
---------- ------------ ----------- ------------
9. Group I Senior
Prepayment
Percentage: % N/A N/A N/A N/A
---------- ------------ ----------- ------------
10. Group II Senior
Prepayment
Percentage: % N/A N/A N/A N/A
---------- ------------ ----------- ------------
<PAGE>
11. Junior Percentage: % 4.422634
----------
12. Junior Prepayment
Percentage: % 0.000000
----------
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
------------------------------------
Name: Karen Pickett
Title: Vice President,
Investor Operations
Exhibit 99.4
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
April, 1998
Series 1998-02, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1998
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
Weighted average coupon % 7.714633
-------------------------
Weighted average maturity 354.17
-------------------------
A. Amount of distribution allocable to principal and interest:
The amounts below are for a Single Certificate of $1,000:
1.
Principal
Principal Per Prepayments Per Interest Per
Class Certificate Certificate Certificate Payout Rate
----- ----------- ----------- ----------- -----------
R $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
PO $ 0.93553208 $ 0.08296831 $ 0.00000000 % 0.00000000
A1 $ 32.81993103 $ 31.79548614 $ 5.47757568 % 6.99999979
A2 $ 0.00000000 $ 0.00000000 $ 5.83333243 % 6.99999892
A3 $ 25.14487439 $ 24.35999998 $ 5.56077088 % 6.99999987
A4 $ 0.00000000 $ 0.00000000 $ 5.83333333 % 7.00000000
A5 $ 0.00000000 $ 0.00000000 $ 5.83333321 % 6.99999985
A6 $ 33.83123595 $ 32.77522456 $ 5.46675764 % 7.00000009
A7 $ 0.00000000 $ 0.00000000 $ 5.83333367 % 7.00000041
A8 $ 27.19400719 $ 26.34517635 $ 5.73648574 % 7.25000149
A9 $ 27.19400800 $ 26.34517200 $ 5.49911200 % 6.94999903
A10 $ 0.00000000 $ 0.00000000 $ 5.83333333 % 7.00000000
A11 $ 0.72617015 $ 0.70350321 $ 5.82496300 % 6.99999992
A12 $ 27.39986024 $ 26.54459839 $ 5.53631557 % 7.00000002
M $ 0.72616935 $ 0.00000000 $ 5.82496261 % 6.99999939
B1 $ 0.72616903 $ 0.00000000 $ 5.82496229 % 6.99999902
B2 $ 0.72617125 $ 0.00000000 $ 5.82496451 % 7.00000170
B3 $ 0.72617125 $ 0.00000000 $ 5.82496451 % 7.00000170
B4 $ 0.72616864 $ 0.00000000 $ 5.82497041 % 7.00000868
B5 $ 0.72617051 $ 0.00000000 $ 5.82496591 % 7.00000336
2. Unanticipated Recoveries: $ 0.00
-----------------------
B. Accrual Amount
1.
Class Accrual Amount
N/A $ N/A
<PAGE>
2. The amount of servicing compensation received by the Company during
the month preceding the month of distribution:
$ 97,806.24
-----------------------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 423,226,116.18
-----------------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above:
1,418
-----------------------
3.
Beginning Aggregate Ending Aggregate Ending
Class Certificate Class Certificate Single Certificate
Class Principal Balance Principal Balance Balance Cusip
- ----- ----------------- ----------------- ------- -----
R $ 0.00 $ 0.00 $ 0.00 36157RDE2
PO $ 290,519.51 $ 290,245.47 $ 997.15 GEC9802PO
A1 $ 19,525,298.30 $ 18,842,859.46 $ 906.19 36157RCS2
A2 $ 3,700,000.00 $ 3,700,000.00 $ 1,000.00 36157RCT0
A3 $ 24,160,121.60 $ 23,522,841.48 $ 928.13 36157RCU7
A4 $ 24,561,000.00 $ 24,561,000.00 $ 1,000.00 36157RCV5
A5 $ 34,060,499.00 $ 34,060,499.00 $ 1,000.00 36157RCW3
A6 $ 60,261,273.49 $ 58,085,853.33 $ 903.33 36157RCX1
A7 $ 9,800,000.00 $ 9,800,000.00 $ 1,000.00 36157RCY9
A8 $ 949,486.15 $ 922,292.17 $ 922.29 36157RCZ6
A9 $ 4,747,435.48 $ 4,611,465.44 $ 922.29 36157RDA0
A10 $ 3,300,000.00 $ 3,300,000.00 $ 1,000.00 36157RDB8
A11 $ 22,007,521.97 $ 21,991,517.80 $ 997.84 36157RDC6
A12 $ 206,378,025.72 $ 200,419,926.11 $ 921.68 36157RDD4
SUP $ 419,641,282.27 $ 410,007,494.99 $ 937.07 GEC98002S
M $ 7,877,680.11 $ 7,871,951.36 $ 997.84 36157RDF9
B1 $ 4,501,531.49 $ 4,498,257.92 $ 997.84 36157RDG7
B2 $ 2,250,765.74 $ 2,249,128.95 $ 997.84 36157RDH5
B3 $ 2,250,765.74 $ 2,249,128.95 $ 997.84 36157RDJ1
B4 $ 675,030.02 $ 674,539.13 $ 997.84 36157RDK8
B5 $ 1,575,753.53 $ 1,574,607.62 $ 997.84 36157RDL6
<PAGE>
D. The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the
month preceding the related Determination Date, were delinquent:
1. 30-59 days
Number 7 Principal Balance $ 1,787,131.44
-------- ----------------
2. 60-89 days
Number 1 Principal Balance $ 319,685.35
-------- ----------------
3. 90 days or more
Number 0 Principal Balance $ 0.00
-------- ----------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
-------- ----------------
5. Real Estate Owned
Number 0 Principal Balance $ 0.00
-------- ----------------
6. The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to the Pooling And Servicing Agreement:
$ 0.00
------------------
E. Other Information:
1. Special Hazard Loss Amount: $ 4,508,007.00
------------------
2. Bankruptcy Loss Amount: $ 173,734.00
------------------
3. Fraud Loss Amount: $ 4,508,007.00
------------------
4. Certificate Interest Rate of the Class S Certificate: % 0.47693849
------------------
Exhibit 99.5
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
April, 1998
Series 1998-03, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1998
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate scheduled Monthly Payments:
(a) Principal $ 228,356.10
------------------
(b) Interest $ 1,927,541.56
------------------
(c) Total $ 2,155,897.66
------------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 195,829.75
------------------
(b) Interest $ 1,656,037.04
------------------
(c) Total $ 1,851,866.79
------------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 32,526.35
------------------
(b) Interest $ 271,504.52
------------------
(c) Total $ 304,030.87
------------------
4. Aggregate Principal Prepayments in part received in the applicable
Prepayment Period:
(a) Principal $ 81,480.86
------------------
5. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $ 4,299,291.63
------------------
(b) Interest $ 27,341.70
------------------
(c) Total $ 4,326,633.33
------------------
6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
------------------
(b) Interest $ 0.00
------------------
(c) Total $ 0.00
------------------
<PAGE>
7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
------------------
(b) Interest $ 0.00
------------------
(c) Total $ 0.00
------------------
8. Aggregate Deficient Valuations with respect to the Mortgage
Loans during the prior month: $ 0.00
------------------
9. Aggregate Debt Service Reductions with respect to the Mortgage Loans
during the prior month: $ 0.00
------------------
10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
------------------
(b) Interest $ 0.00
------------------
(c) Total $ 0.00
------------------
11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 0.00
------------------
(b) Interest $ 0.00
------------------
(c) Total $ 0.00
------------------
12. Pool Scheduled Principal Balance: $ 302,332,969.73
-----------------
13. Available Funds: $ 6,398,931.30
-----------------
14. Realized Losses for prior month: $ 0.00
-----------------
15. Aggregate Realized Losses
(a) Aggregate Realized Losses: $ 0.00
------------------------
(b) Deficient Valuations: $ 0.00
------------------------
(c) Debt Service Reductions: $ 0.00
------------------------
(d) Bankruptcy Losses: $ 0.00
------------------------
(e) Special Hazard Losses: $ 0.00
------------------------
(f) Fraud Losses: $ 0.00
------------------------
(g) Excess Bankruptcy Losses: $ 0.00
------------------------
(h) Excess Special Hazard Losses: $ 0.00
------------------------
(i) Excess Fraud Losses: $ 0.00
------------------------
16. Non-Credit Losses: $ 0.00
------------------------
17. Compensating Interest Payment: $ 3,416.55
------------------------
18. Total interest payments: $ 1,789,802.71
------------------------
<PAGE>
19. Interest
Unpaid Class
Accrued Certificate Interest Interest
Class Interest Shortfalls Payable Pay-out Rate
- ----- -------- ---------- ------- ------------
R $ 0.00 $ 0.00 $ 0.00 % 0.000000000
PO $ 0.00 $ 0.00 $ 0.00 % 0.000000000
A1 $ 361,666.67 $ 0.00 $ 361,666.67 % 7.000000065
A2 $ 64,947.92 $ 0.00 $ 64,947.92 % 6.250000321
A3 $ 110,822.92 $ 0.00 $ 110,822.92 % 6.250000188
A4 $ 81,968.75 $ 0.00 $ 81,968.75 % 6.250000000
A5 $ 81,614.58 $ 0.00 $ 81,614.58 % 6.249999745
A6 $ 40,722.50 $ 0.00 $ 40,722.50 % 7.000000000
A7 $ 200,361.50 $ 0.00 $ 200,361.50 % 7.000000172
A8 $ 696,768.17 $ 0.00 $ 696,768.17 % 6.999999952
A9 $ 9,631.43 $ 0.00 $ 9,631.43 % 6.999997947
A10 $ 63,583.33 $ 0.00 $ 63,583.33 % 6.999999633
RL $ 0.00 $ 0.00 $ 0.00 % 0.000000000
M $ 31,995.54 $ 0.00 $ 31,995.54 % 7.000000631
B1 $ 18,284.00 $ 0.00 $ 18,284.00 % 7.000001474
B2 $ 9,144.91 $ 0.00 $ 9,144.91 % 6.999999630
B3 $ 9,144.91 $ 0.00 $ 9,144.91 % 6.999999630
B4 $ 2,743.47 $ 0.00 $ 2,743.47 % 6.999992005
B5 $ 6,402.11 $ 0.00 $ 6,402.11 % 6.999996948
20. Principal Distribution Amount: $ 4,609,128.59
---------------
21. Principal Distribution Amount per Certificate:
Principal Distribution Accrual Amount
---------------------- --------------
Class R $ 0.00 $ 0.00
Class PO $ 126.74 $ 0.00
Class A1 $ 0.00 $ 0.00
Class A2 $ 0.00 $ 0.00
Class A3 $ 0.00 $ 0.00
Class A4 $ 0.00 $ 0.00
Class A5 $ 0.00 $ 0.00
Class A6 $ 0.00 $ 0.00
Class A7 $ 658,392.34 $ 0.00
Class A8 $ 2,289,595.76 $ 0.00
Class A9 $ 1,651,102.77 $ 0.00
Class A10 $ 0.00 $ 0.00
Class SUP $ 0.00 $ 0.00
Class RL $ 0.00 $ 0.00
Class M $ 4,080.39 $ 0.00
Class B1 $ 2,331.76 $ 0.00
Class B2 $ 1,166.25 $ 0.00
Class B3 $ 1,166.25 $ 0.00
Class B4 $ 349.87 $ 0.00
Class B5 $ 816.46 $ 0.00
22. Additional distributions to the Class R Certificate pursuant to the
Agreement: $ 0.00
---------------
23. Additional distributions to the Class RL Certificate pursuant to the
Agreement: $ 0.00
---------------
24. Subordinate Certificate Writedown Amount: $ 0.08
---------------
25. Unanticipated Recoveries: $ 0.00
---------------
<PAGE>
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution
Triggers satisfied: Yes No
--- --
Class-B1 X
Class-B2 X
Class-B3 X
Class-B4 X
Class-B5 X
2. Base Servicing Fee amount: $ 69,125.87
-------------------
3. Supplemental Servicing Fee amount: $ 100,512.76
-------------------
4. Credit Losses for prior month: $ 0.00
-------------------
Category Category Category
A B C
5. Senior Percentage: % 95.657905 N/A N/A N/A
----------- --------- ------- -------
6. Group I Senior Percentage:
% N/A N/A N/A N/A
----------- --------- ------- -------
7. Group II Senior Percentage:
% N/A N/A N/A N/A
----------- --------- ------- -------
8. Senior Prepayment Percentage:
%100.000000 N/A N/A N/A
----------- --------- ------- -------
9. Group I Senior Prepayment
Percentage: % N/A N/A N/A N/A
----------- --------- ------- -------
10. Group II Senior Prepayment
Percentage: % N/A N/A N/A N/A
----------- --------- ------- -------
<PAGE>
11. Junior Percentage: % 4.342095
-----------
12. Junior Prepayment Percentage:
% 0.000000
-----------
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
------------------------------------
Name: Karen Pickett
Title: Vice President,
Investor Operations
Exhibit 99.6
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
April, 1998
Series 1998-03, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1998
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
Weighted average coupon % 7.648292
---------------------
Weighted average maturity 354.83
---------------------
A. Amount of distribution allocable to principal and interest:
The amounts below are for a Single Certificate of $1,000:
1.
Principal
Principal Per Prepayments Per Interest Per
Class Certificate Certificate Certificate Payout Rate
----- ----------- ----------- ----------- -----------
R $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
PO $ 1.05406732 $ 0.20018463 $ 0.00000000 % 0.00000000
A1 $ 0.00000000 $ 0.00000000 $ 5.83333339 % 7.00000006
A2 $ 0.00000000 $ 0.00000000 $ 5.20833360 % 6.25000032
A3 $ 0.00000000 $ 0.00000000 $ 5.20833349 % 6.25000019
A4 $ 0.00000000 $ 0.00000000 $ 5.20833333 % 6.25000000
A5 $ 0.00000000 $ 0.00000000 $ 5.20833312 % 6.24999974
A6 $ 0.00000000 $ 0.00000000 $ 5.83333333 % 7.00000000
A7 $ 19.07996464 $ 18.17414090 $ 5.80640160 % 7.00000017
A8 $ 19.07996467 $ 18.17414083 $ 5.80640142 % 6.99999995
A9 $ 208.87344019 $ 198.95714629 $ 1.21842804 % 6.99999795
A10 $ 0.00000000 $ 0.00000000 $ 5.83333303 % 6.99999963
RL $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
M $ 0.74283452 $ 0.00000000 $ 5.82478427 % 7.00000063
B1 $ 0.74283530 $ 0.00000000 $ 5.82478496 % 7.00000147
B2 $ 0.74283439 $ 0.00000000 $ 5.82478344 % 6.99999963
B3 $ 0.74283439 $ 0.00000000 $ 5.82478344 % 6.99999963
B4 $ 0.74282378 $ 0.00000000 $ 5.82477707 % 6.99999201
B5 $ 0.74283337 $ 0.00000000 $ 5.82478127 % 6.99999695
2. Unanticipated Recoveries: $ 0.00
-------------------
B. Accrual Amount
1. Class Accrual Amount
N/A $ N/A
<PAGE>
2. The amount of servicing compensation received by the Company during
the month preceding the month of distribution: $ 69,125.87
-----------------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 302,332,969.73
-----------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 1,007
-----------------
3.
Beginning Aggregate Ending Aggregate Ending
Class Certificate Class Certificate Single Certificate
Class Principal Balance Principal Balance Balance Cusip
- ----- ----------------- ----------------- ------- -----
R $ 0.00 $ 0.00 $ 0.00 36157RDX0
PO $ 118,776.60 $ 118,649.87 $ 986.78 GEC9803PO
A1 $ 62,000,000.00 $ 62,000,000.00 $ 1,000.00 36157RDM4
A2 $ 12,470,000.00 $ 12,470,000.00 $ 1,000.00 36157RDN2
A3 $ 21,278,000.00 $ 21,278,000.00 $ 1,000.00 36157RDP7
A4 $ 15,738,000.00 $ 15,738,000.00 $ 1,000.00 36157RDQ5
A5 $ 15,670,000.00 $ 15,670,000.00 $ 1,000.00 36157RDR3
A6 $ 6,981,000.00 $ 6,981,000.00 $ 1,000.00 36157RDS1
A7 $ 34,347,684.87 $ 33,689,292.53 $ 976.30 36157RDT9
A8 $ 119,445,972.82 $ 117,156,377.06 $ 976.30 36157RDU6
A9 $ 1,651,102.77 $ 0.00 $ 0.00 36157RDV4
A10 $ 10,900,000.00 $ 10,900,000.00 $ 1,000.00 36157RDW2
SUP $ 297,592,867.25 $ 292,992,830.18 $ 962.71 GEC98003S
RL $ 0.00 $ 0.00 $ 0.00 36157RDY8
M $ 5,484,949.22 $ 5,480,868.83 $ 997.79 36157RDZ5
B1 $ 3,134,399.34 $ 3,132,067.58 $ 997.79 36157REA9
B2 $ 1,567,698.94 $ 1,566,532.69 $ 997.79 36157REB7
B3 $ 1,567,698.94 $ 1,566,532.69 $ 997.79 36157REC5
B4 $ 470,309.68 $ 469,959.81 $ 997.79 36157RED3
B5 $ 1,097,505.05 $ 1,096,688.51 $ 997.79 36157REE1
D. The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the
month preceding the related Determination Date, were delinquent:
<PAGE>
1. 30-59 days
Number 11 Principal Balance $ 3,670,570.03
-------- --------------
2. 60-89 days
Number 2 Principal Balance $ 883,888.97
-------- --------------
3. 90 days or more
Number 0 Principal Balance $ 0.00
-------- --------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
-------- --------------
5. Real Estate Owned
Number 0 Principal Balance $ 0.00
-------- --------------
6. The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to the Pooling And Servicing Agreement:
$ 0.00
-------------
E. Other Information:
1. Special Hazard Loss Amount: $ 3,139,304.00
-------------
2. Bankruptcy Loss Amount: $ 123,439.00
-------------
3. Fraud Loss Amount: $ 3,139,304.00
-------------
4. Certificate Interest Rate of the Class S Certificate: % 0.40530310
-----------
F. Ending Notional Component Balances (if applicable):
Ending Notional
Class Balance
Class A7_1 $ 0.00
Class A7_2 $ 0.00
Class A8_1 $ 0.00
Class A8_2 $ 0.00
Ending Component Principal Balances (if applicable):
Ending Component
Class Balance
Class A7_1 $ 5,894,747.86
Class A7_2 $ 27,794,544.67
Class A8_1 $ 20,499,311.51
Class A8_2 $ 96,657,065.55
Exhibit 99.7
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
April, 1998
Series 1998-04, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of February 1,
1998 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company") and State Street Bank (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate scheduled Monthly Payments:
(a) Principal $ 447,187.09
--------------
(b) Interest $ 3,695,540.68
--------------
(c) Total $ 4,142,727.77
--------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 381,540.15
--------------
(b) Interest $ 3,175,602.66
--------------
(c) Total $ 3,557,142.81
--------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 65,646.94
--------------
(b) Interest $ 519,938.02
--------------
(c) Total $ 585,584.96
--------------
4. Aggregate Principal Prepayments in part received in the applicable
Prepayment Period:
(a) Principal $ 339,824.73
--------------
5. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $ 4,490,521.25
--------------
(b) Interest $ 29,765.98
--------------
(c) Total $ 4,520,287.23
--------------
6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
--------------
(b) Interest $ 0.00
--------------
(c) Total $ 0.00
--------------
<PAGE>
7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
--------------
(b) Interest $ 0.00
--------------
(c) Total $ 0.00
--------------
8. Aggregate Deficient Valuations with respect to the Mortgage
Loans during the prior month: $ 0.00
--------------
9. Aggregate Debt Service Reductions with respect to the Mortgage Loans
during the prior month: $ 0.00
---------------
10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 0.00
---------------
11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 0.00
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 0.00
---------------
12. Pool Scheduled Principal Balance: $ 586,629,626.67
---------------
13. Available Funds: $ 8,605,793.20
---------------
14. Realized Losses for prior month: $ 0.00
---------------
15. Aggregate Realized Losses
(a) Aggregate Realized Losses: $ 0.00
------------------------
(b) Deficient Valuations: $ 0.00
------------------------
(c) Debt Service Reductions: $ 0.00
------------------------
(d) Bankruptcy Losses: $ 0.00
------------------------
(e) Special Hazard Losses: $ 0.00
------------------------
(f) Fraud Losses: $ 0.00
------------------------
(g) Excess Bankruptcy Losses: $ 0.00
------------------------
(h) Excess Special Hazard Losses: $ 0.00
------------------------
(i) Excess Fraud Losses: $ 0.00
------------------------
16. Non-Credit Losses: $ 0.00
------------------------
17. Compensating Interest Payment: $ 4,870.58
------------------------
18. Total interest payments: $ 3,328,260.12
------------------------
<PAGE>
19. Interest
Unpaid Class
Accrued Certificate Interest Interest
Class Interest Shortfalls Payable Pay-out Rate
- ----- -------- ---------- ------- ------------
R $ 0.00 $ 0.00 $ 0.00 % 0.000000000
PO $ 0.00 $ 0.00 $ 0.00 % 0.000000000
A1 $ 570,678.30 $ 0.00 $ 570,678.30 % 6.500000013
A2 $ 475,279.69 $ 0.00 $ 475,279.69 % 6.999999970
A3 $ 101,604.82 $ 0.00 $ 101,604.82 % 6.199999695
A4 $ 37,692.06 $ 0.00 $ 37,692.06 % 10.733318383
A5 $ 924,714.12 $ 0.00 $ 924,714.12 % 6.749999974
A6 $ 539,572.63 $ 0.00 $ 539,572.63 % 6.550000061
A7 $ 201,824.88 $ 0.00 $ 201,824.88 % 7.350000182
A8 $ 338,295.12 $ 0.00 $ 338,295.12 % 6.749999963
M $ 62,543.03 $ 0.00 $ 62,543.03 % 6.749999562
B1 $ 30,425.58 $ 0.00 $ 30,425.58 % 6.749999713
B2 $ 15,209.98 $ 0.00 $ 15,209.98 % 6.749999886
B3 $ 13,523.73 $ 0.00 $ 13,523.73 % 6.750000159
B4 $ 6,760.74 $ 0.00 $ 6,760.74 % 6.749999345
B5 $ 10,135.38 $ 0.00 $ 10,135.38 % 6.750002110
20. Principal Distribution Amount: $ 5,277,533.08
---------------
21. Principal Distribution Amount per Certificate:
Principal Distribution Accrual Amount
---------------------- --------------
Class R $ 0.00 $ 0.00
Class PO $ 2,010.32 $ 0.00
Class A1 $ 1,476,508.99 $ 0.00
Class A2 $ 206,385.49 $ 0.00
Class A3 $ 1,045,984.06 $ 0.00
Class A4 $ 224,139.44 $ 0.00
Class A5 $ 2,303,890.38 $ 0.00
Class A6 $ 0.00 $ 0.00
Class A7 $ 0.00 $ 0.00
Class A8 $ 0.00 $ 0.00
Class SUP $ 0.00 $ 0.00
Class M $ 8,399.81 $ 0.00
Class B1 $ 4,086.29 $ 0.00
Class B2 $ 2,042.77 $ 0.00
Class B3 $ 1,816.30 $ 0.00
Class B4 $ 908.00 $ 0.00
Class B5 $ 1,361.23 $ 0.00
22. Additional distributions to the Class R Certificate pursuant to the
Agreement: $ 0.06
-------------
<PAGE>
23. Additional distributions to the Class RL Certificate pursuant to the
Agreement: $ 0.00
-------------
24. Subordinate Certificate Writedown Amount: $ 0.16
-------------
25. Unanticipated Recoveries: $ 0.00
-------------
26. The Certificate Interest Rate applicable to the Interest Accrual Period
relating to such Distribution Date applicable to any floating index
certificate.
Class Certificate Interest
Rates
Class A3 % 6.19999969
Class A4 % 10.73331838
Class A6 % 6.55000006
Class A7 % 7.35000018
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution
Triggers satisfied: Yes No
--- --
Class-B1 X
Class-B2 X
Class-B3 X
Class-B4 X
Class-B5 X
2. Base Servicing Fee amount: $ 129,321.65
--------------------
3. Supplemental Servicing Fee amount: $ 268,357.32
--------------------
4. Credit Losses for prior month: $ 0.00
--------------------
Category Category Category
A B C
5. Senior Percentage: % 95.835709 N/A N/A N/A
----------- ------ ------- ------
6. Group I Senior Percentage: % N/A N/A N/A N/A
----------- ------ ------- ------
7. Group II Senior Percentage: % N/A N/A N/A N/A
----------- ------ ------- ------
8. Senior Prepayment Percentage:%100.000000 N/A N/A N/A
----------- ------ ------- ------
9. Group I Senior Prepayment
Percentage: % N/A N/A N/A N/A
----------- ------ ------- ------
<PAGE>
10. Group II Senior Prepayment
Percentage: % N/A N/A N/A N/A
----------- ------ ------- ------
11. Junior Percentage: % 4.164291
-----------
12. Junior Prepayment Percentage:% 0.000000
-----------
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
------------------------------------
Name: Karen Pickett
Title: Vice President,
Investor Operations
Exhibit 99.8
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
April, 1998
Series 1998-04, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of February 1,
1998 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company") and State Street Bank (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
Weighted average coupon % 7.552091
---------------------
Weighted average maturity 355.64
---------------------
A. Amount of distribution allocable to principal and interest:
The amounts below are for a Single Certificate of $1,000:
1.
Principal
Principal Per Prepayments Per Interest Per
Class Certificate Certificate Certificate Payout Rate
----- ----------- ----------- ----------- -----------
R $ 0.00000000 $ 0.00000000 $ 0.60000000 % 0.00000000
PO $ 9.27748652 $ 8.41490992 $ 0.00000000 % 0.00000000
A1 $13.66872173 $ 12.55485674 $ 5.28303108 % 6.50000001
A2 $ 2.52756130 $ 2.32159012 $ 5.82065410 % 6.99999997
A3 $48.17095238 $ 44.24549830 $ 4.67923091 % 6.19999969
A4 $48.17095207 $ 44.24549753 $ 8.10059317 % 10.73331838
A5 $13.66872170 $ 12.55485672 $ 5.48622455 % 6.74999997
A6 $ 0.00000000 $ 0.00000000 $ 5.45833338 % 6.55000006
A7 $ 0.00000000 $ 0.00000000 $ 6.12500015 % 7.35000018
A8 $ 0.00000000 $ 0.00000000 $ 5.62499997 % 6.74999996
M $ 0.75490339 $ 0.00000000 $ 5.62083491 % 6.74999956
B1 $ 0.75490301 $ 0.00000000 $ 5.62083503 % 6.74999971
B2 $ 0.75490392 $ 0.00000000 $ 5.62083518 % 6.74999989
B3 $ 0.75490441 $ 0.00000000 $ 5.62083541 % 6.75000016
B4 $ 0.75490522 $ 0.00000000 $ 5.62083472 % 6.74999934
B5 $ 0.75490529 $ 0.00000000 $ 5.62083702 % 6.75000211
2. Unanticipated Recoveries: $ 0.00
-------------
B. Accrual Amount
1. Class Accrual Amount
N/A $ N/A
2. The amount of servicing compensation received by the Company during
the month preceding the month of distribution:
$ 129,321.65
-------------------
<PAGE>
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 586,629,626.67
-------------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 1,923
-------------------
3.
Beginning Aggregate Ending Aggregate Ending
Class Certificate Class Certificate Single Certificate
Class Principal Balance Principal Balance Balance Cusip
- ----- ----------------- ----------------- ------- -----
R $ 0.00 $ 0.00 $ 0.00 36157REP6
PO $ 216,472.53 $ 214,462.05 $ 989.73 GEC9804PO
A1 $ 105,355,993.63 $ 103,879,484.64 $ 961.66 36157REF8
A2 $ 81,476,518.63 $ 81,270,133.14 $ 995.30 36157REG6
A3 $ 19,665,450.00 $ 18,619,465.94 $ 857.49 36157REH4
A4 $ 4,214,025.00 $ 3,989,885.56 $ 857.49 36157REJ0
A5 $ 164,393,621.96 $ 162,089,731.58 $ 961.66 36157REK7
A6 $ 98,853,000.00 $ 98,853,000.00 $ 1,000.00 36157REL5
A7 $ 32,951,000.00 $ 32,951,000.00 $ 1,000.00 36157REM3
A8 $ 60,141,355.00 $ 60,141,355.00 $ 1,000.00 36157REN1
SUP $ 578,686,622.76 $ 573,737,604.99 $ 975.45 GEC98004S
M $ 11,118,761.61 $ 11,110,361.80 $ 998.50 36157REQ4
B1 $ 5,408,992.23 $ 5,404,905.94 $ 998.50 36157RER2
B2 $ 2,703,996.49 $ 2,701,953.72 $ 998.50 36157RES0
B3 $ 2,404,218.61 $ 2,402,402.31 $ 998.50 36157RET8
B4 $ 1,201,909.45 $ 1,201,001.45 $ 998.50 36157REU5
B5 $ 1,801,844.77 $ 1,800,483.54 $ 998.50 36157REV3
D. The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the
month preceding the related Determination Date, were delinquent:
<PAGE>
1. 30-59 days
Number 20 Principal Balance $ 6,662,364.66
-------- -----------------
2. 60-89 days
Number 0 Principal Balance $ 0.00
-------- -----------------
3. 90 days or more
Number 0 Principal Balance $ 0.00
-------- -----------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
-------- -----------------
5. Real Estate Owned
Number 0 Principal Balance $ 0.00
-------- -----------------
6. The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to the Pooling And Servicing Agreement: $ 0.00
---------------
7. The Certificate Interest Rate applicable to the Interest Accrual
Period relating to such Distribution Date applicable to any floating
index certificate:
Certificate Interest
Class Rates
A3 % 6.19999969
A4 % 10.73331838
A6 % 6.55000006
A7 % 7.35000018
E. Other Information:
1. Special Hazard Loss Amount: $ 0.00
-----------
2. Bankruptcy Loss Amount: $ 0.00
-----------
3. Fraud Loss Amount: $ 0.00
-----------
4. Certificate Interest Rate of the Class S Certificate:%0.55648216
-----------
Exhibit 99.9
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
APRIL 1998
Home Equity Loan Pass-Through Certificates
Series 1998-HE1
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1998
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company"),
and The First National Bank of Chicago (the "Trustee"), governing the
Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
(1) Aggregate Monthly Payments Due: $ 2,045,944.57
(2) Aggregate Monthly Payments
received and Monthly Advances
made this Month:
(a) Principal $ 243,903.51
(b) Interest $ 1,208,655.59
(c) Total $ 1,452,559.10
(3) Aggregate Principal Prepayments in part received on Self-
Amortizing Mortgage Loans and applied in the applicable
Prepayment Period:
(a) Principal $ 35,673.24
(c) Total $ 35,673.24
(4) Aggregate Principal Prepayments in full received in the
applicable Prepayment period:
(a) Principal $ 944,621.86
(b) Interest $ 8,527.08
(c) Total $ 953,148.94
(5) Aggregate Insurance Proceeds (inculding purchases of Mortgage
Loans by primary mortgage insurers) for
prior month:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(6) Aggregate Liquidation Proceeds for prior month:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
<PAGE>
(7) Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(8) Aggregate Purchase Prices for (and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(9) Aggregate Purchase Prices for for Document Deficiencies per Sec.
2.02:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(10) Pool Principal Balance $ 154,857,894.46
(11) Available Funds: $ 2,377,646.46
(12) Realized Losses for prior month: $ 0.00
(13) Aggregate Realized Losses: $ 0.00
(a) Deficient Valuations $ 0.00
(b) Special Hazard Losses $ 0.00
(c) Fraud Losses $ 0.00
(d) Excess Bankruptcy Losses $ 0.00
(e) Excess Special Hazard Losses $ 0.00
(f) Excess Fraud Losses $ 0.00
(14) Compensating Interest Payment: $ 492.42
(15) Net Simple Interest Shortfall: $ (0.00)
<PAGE>
(16) Net Simple Interest Excess: $ 0.00
(17) Simple Interest Shortfall Payment: $ (0.00)
(18) Unpaid Net Simple Interest Shortfall:
Class A1 36158GAV0 $ 0.00
Class A2 36158GAW8 $ 0.00
Class A3 36158GAX6 $ 0.00
Class A4 36158GAY4 $ 0.00
Class A5 36158GAZ1 $ 0.00
Class A6 36158GBA5 $ 0.00
Class A7 36158GBB3 $ 0.00
Class S 36198HE1 $ 0.00
Class M 36158GBE7 $ 0.00
Class B1 36158GBF4 $ 0.00
Class B2 36158GBC2 $ 0.00
Class B3 36157REZ4 $ 0.00
Class B4 36157RFA8 $ 0.00
Class B5 36157RFB6 $ 0.00
(19) Class Certificate Interest Rate:
Class M 36158GBE7 6.950%
Class B1 36158GBF4 7.240%
Class B2 36158GBC2 7.590%
Class B3 36157REZ4 8.938%
Class B4 36157RFA8 8.938%
Class B5 36157RFB6 8.938%
Class S 36198HE1 2.340%
(20) Accrued Certificate Interest and Pay-out Rate:
Class A1 36158GAV0 $ 242,512.50 6.525%
Class A2 36158GAW8 $ 102,768.33 6.260%
Class A3 36158GAX6 $ 117,105.00 6.330%
Class A4 36158GAY4 $ 56,886.67 6.440%
Class A5 36158GAZ1 $ 70,197.50 6.530%
Class A6 36158GBA5 $ 103,348.17 6.940%
Class A7 36158GBB3 $ 76,540.21 6.465%
Class S 36198HE1 $ 301,985.99 2.340%
Class M 36158GBE7 $ 22,425.33 6.950%
Class B1 36158GBF4 $ 21,026.17 7.240%
Class B2 36158GBC2 $ 9,797.43 7.590%
Class B3 36157REZ4 $ 11,537.67 8.938%
Class B4 36157RFA8 $ 8,655.11 8.938%
Class B5 36157RFB6 $ 8,661.78 8.938%
Total $ 1,153,447.85
(21) Principal distributable:
Class A1 36158GAV0 $ 1,203,070.08
Class A2 36158GAW8 $ 0.00
Class A3 36158GAX6 $ 0.00
Class A4 36158GAY4 $ 0.00
Class A5 36158GAZ1 $ 0.00
Class A6 36158GBA5 $ 0.00
Class A7 36158GBB3 $ 0.00
Class M 36158GBE7 $ 6,098.46
Class B1 36158GBF4 $ 5,488.93
Class B2 36158GBC2 $ 2,439.70
Class B3 36157REZ4 $ 2,439.70
Class B4 36157RFA8 $ 1,830.17
Class B5 36157RFB6 $ 1,831.58
Class R1 36158GBC1 $ 500.00
Class R2 36158GBD9 $ 500.00
Total $ 1,224,198.61
<PAGE>
(22) Additional distributions to the Class R1 Certificate pursuant to
Section 2.05 (d) : $ 0.00
(23) Additional distributions to the Class R2 Certificate pursuant to
Section 4.01 (b) : $ 0.00
B. Other Amounts:
1) Senior Percentage for such Distribution Date: 91.747341%
2) Senior Prepayment Percentage for such Distribution
Date: 100.000000%
3) Junior Percentage for such Distribution Date: 8.252659%
4) Junior Prepayment Percentage for such Distribution
Date: 0.000000%
5) Subordinate Certfificate Writedown Amount for such
Distribution Date: $ 0.00
6) Prepayment Distribution Triggers saisfied:
Yes No
--- --
Class B1 X
Class B2 X
Class B3 X
Class B4 X
Class B5 X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
----------------------------------------
Name: Karen Pickett
Title: Vice President,
Investor Operations
Exhibit 99.10
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
APRIL 1998
Home Equity Loan Pass-Through Certificates,
Series 1998-HE1
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1998
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company"),
and The First National Bank of Chicago (the "Trustee"), governing the
Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
The amounts below are for a Single Certificate of $1,000:
(1) Amount of distribution allocable to principal:
Class A1 36158GAV0 $ 26.97466557
Class A2 36158GAW8 $ 0.00000000
Class A3 36158GAX6 $ 0.00000000
Class A4 36158GAY4 $ 0.00000000
Class A5 36158GAZ1 $ 0.00000000
Class A6 36158GBA5 $ 0.00000000
Class A7 36158GBB3 $ 0.00000000
Class M 36158GBE7 $ 1.57501502
Class B1 36158GBF4 $ 1.57501502
Class B2 36158GBC2 $ 1.57501502
Class B3 36157REZ4 $ 1.57501502
Class B4 36157RFA8 $ 1.57501502
Class B5 36157RFB6 $ 1.57501502
Class R1 36158GBC1 $ 500.00000000
Class R2 36158GBD9 $ 500.00000000
(2) Aggregate Principal prepayments included in distribution:
Class A1 36158GAV0 $ 980,295.10
Class A2 36158GAW8 $ 0.00
Class A3 36158GAX6 $ 0.00
Class A4 36158GAY4 $ 0.00
Class A5 36158GAZ1 $ 0.00
Class A6 36158GBA5 $ 0.00
Class A7 36158GBB3 $ 0.00
Class M 36158GBE7 $ 0.00
Class B1 36158GBF4 $ 0.00
Class B2 36158GBC2 $ 0.00
Class B3 36157REZ4 $ 0.00
Class B4 36157RFA8 $ 0.00
Class B5 36157RFB6 $ 0.00
Class R1 36158GBC1 $ 0.00
Class R2 36158GBD9 $ 0.00
(3) Amount of distribution allocable to interest Pay-out Rate:
Class A1 36158GAV0 $ 5.43750000 6.525%
Class A2 36158GAW8 $ 5.21666667 6.260%
Class A3 36158GAX6 $ 5.27500000 6.330%
Class A4 36158GAY4 $ 5.36666667 6.440%
Class A5 36158GAZ1 $ 5.44166667 6.530%
Class A6 36158GBA5 $ 5.78333333 6.940%
Class A7 36158GBB3 $ 5.38750000 6.465%
Class S 36198HE1 $ 1.95008454 2.340%
Class M 36158GBE7 $ 5.79166667 6.950%
Class B1 36158GBF4 $ 6.03333333 7.240%
Class B2 36158GBC2 $ 6.32500000 7.590%
Class B3 36157REZ4 $ 7.44846333 8.938%
Class B4 36157RFA8 $ 7.44846333 8.938%
Class B5 36157RFB6 $ 7.44846333 8.938%
<PAGE>
(4) Servicing Compensation: $ 70,179.33
The amounts below are for the aggregate of all Certificates:
(5) Pool Principal Balance; 154,857,894.46
number of Mortgage Loans: 2,246
(6) Class Certificate Principal Balance of each Class; Certificate
Principal Balance of Single Certificate of each class:
Single
Certificate
Class Cusip# Class Balance Balance
----- ------ ------------- -------
Class A1 36158GAV0 $ 43,396,929.92 $ 973.02533443
Class A2 36158GAW8 $ 19,700,000.00 $ 1,000.00000000
Class A3 36158GAX6 $ 22,200,000.00 $ 1,000.00000000
Class A4 36158GAY4 $ 10,600,000.00 $ 1,000.00000000
Class A5 36158GAZ1 $ 12,900,000.00 $ 1,000.00000000
Class A6 36158GBA5 $ 17,870,000.00 $ 1,000.00000000
Class A7 36158GBB3 $ 14,207,000.00 $ 1,000.00000000
Class M 36158GBE7 $ 3,865,901.54 $ 998.42498498
Class B1 36158GBF4 $ 3,479,511.07 $ 998.42498498
Class B2 36158GBC2 $ 1,546,560.30 $ 998.42498498
Class B3 36157REZ4 $ 1,546,560.30 $ 998.42498498
Class B4 36157RFA8 $ 1,160,169.83 $ 998.42498498
Class B5 36157RFB6 $ 1,161,062.88 $ 998.42498498
Class R1 36158GBC1 $ 0.00 $ 0.00000000
Class R2 36158GBD9 $ 0.00 $ 0.00000000
(7) Book value of real estate acquired on behalf of Certificate-
holders; $ 0.00
number of related Mortgage Loans: 0
<PAGE>
(8) Aggregate Scheduled Principal Balance and number of delinquent
Mortgage Loans:
One Payment Delinquent $ 0.00
0
Two Payments Delinquent $ 0.00
0
Three or more Payments Delinquent $ 0.00
0
TOTAL $ 0.00
0
In foreclosure $ 0.00
0
(9) Aggregate Scheduled Principal Balance and number of replaced
Mortgage Loans: $ 0.00
0
(10) Unpaid Net Simple Interest Shortfall:
Class A1 36157NFF6 $ 0.00
Class A2 36157NFG4 $ 0.00
Class A3 36157NFH2 $ 0.00
Class A4 36157NFJ8 $ 0.00
Class A5 36157NFK5 $ 0.00
Class A6 36157NFL3 $ 0.00
Class A7 36157NFM1 $ 0.00
Class S 36197HE4 $ 0.00
Class M 36157NFQ2 $ 0.00
Class B1 36157NFR0 $ 0.00
Class B2 36157NFS8 $ 0.00
Class B3 36157NFT6 $ 0.00
Class B4 36157NFU3 $ 0.00
Class B5 36157NFV1 $ 0.00
(11) Class Certificate Interest Rate of:
Class M 36157NFQ2 6.950%
Class B1 36157NFR0 7.240%
Class B2 36157NFS8 7.590%
Class B3 36157NFT6 8.938%
Class B4 36157NFU3 8.938%
Class B5 36157NFV1 8.938%
Class S 36197HE4 2.340%
(12) Senior Percentage for such Distribution Date: 91.747341%
(13) Senior Prepayment Percentage for such Distribution
Date: 100.000000%
(14) Junior Percentage for such Distribution Date: 8.252659%
(15) Junior Prepayment Percentage for such Distribution
Date: 0.000000%
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
----------------------------------------
Name: Karen Pickett
Title: Vice President,
Investor Operations
Exhibit 99.11
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
April, 1998
Series 1998-05, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1998
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate scheduled Monthly Payments:
(a) Principal $ 337,785.66
------------------------
(b) Interest $ 2,749,572.64
------------------------
(c) Total $ 3,087,358.30
------------------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 292,390.10
------------------------
(b) Interest $ 2,413,952.71
------------------------
(c) Total $ 2,706,342.81
------------------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 45,395.56
------------------------
(b) Interest $ 335,619.93
------------------------
(c) Total $ 381,015.49
------------------------
4. Aggregate Principal Prepayments in part received in the applicable
Prepayment Period:
(a) Principal $ 365,602.40
------------------------
5. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $ 4,807,349.78
------------------------
(b) Interest $ 17,640.14
------------------------
(c) Total $ 4,824,989.92
------------------------
6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
------------------------
(b) Interest $ 0.00
------------------------
(c) Total $ 0.00
------------------------
<PAGE>
7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
------------------------
(b) Interest $ 0.00
------------------------
(c) Total $ 0.00
------------------------
8. Aggregate Deficient Valuations with respect to the Mortgage
Loans during the prior month: $ 0.00
------------------------
9. Aggregate Debt Service Reductions with respect to the Mortgage Loans
during the prior month: $ 0.00
------------------------
10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
------------------------
(b) Interest $ 0.00
------------------------
(c) Total $ 0.00
------------------------
11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 0.00
------------------------
(b) Interest $ 0.00
------------------------
(c) Total $ 0.00
------------------------
12. Pool Scheduled Principal Balance: $ 438,396,257.11
-----------------------
13. Available Funds: $ 8,005,787.41
-----------------------
14. Realized Losses for prior month: $ 0.00
-----------------------
15. Aggregate Realized Losses:
(a) Aggregate Realized Losses: $ 0.00
------------------------
(b) Deficient Valuations: $ 0.00
------------------------
(c) Debt Service Reductions: $ 0.00
------------------------
(d) Bankruptcy Losses: $ 0.00
------------------------
(e) Special Hazard Losses: $ 0.00
------------------------
(f) Fraud Losses: $ 0.00
------------------------
(g) Excess Bankruptcy Losses: $ 0.00
------------------------
(h) Excess Special Hazard Losses: $ 0.00
------------------------
(i) Excess Fraud Losses: $ 0.00
------------------------
16. Non-Credit Losses: $ 0.00
------------------------
17. Compensating Interest Payment: $ 8,755.93
------------------------
18. Total interest payments: $ 2,495,049.58
------------------------
<PAGE>
19. Interest
Unpaid Class
Accrued Certificate Interest Interest
Class Interest Shortfalls Payable Pay-out Rate
- ----- -------- ---------- ------- ------------
R $ 0.56 $ 0.00 $ 0.56 % 6.720000000
PO $ 0.00 $ 0.00 $ 0.00 % 0.000000000
A1 $ 1,965,938.51 $ 0.00 $ 1,965,938.51 % 6.749999991
A2 $ 71,055.00 $ 0.00 $ 71,055.00 % 6.750000000
A3 $ 239,517.05 $ 0.00 $ 239,517.05 % 6.749999982
A4 $ 118,659.38 $ 0.00 $ 118,659.38 % 6.750000284
M $ 46,194.07 $ 0.00 $ 46,194.07 % 6.750000091
B1 $ 19,975.82 $ 0.00 $ 19,975.82 % 6.750001690
B2 $ 11,236.39 $ 0.00 $ 11,236.39 % 6.749998123
B3 $ 9,987.91 $ 0.00 $ 9,987.91 % 6.750001690
B4 $ 4,993.95 $ 0.00 $ 4,993.95 % 6.750002534
B5 $ 7,490.94 $ 0.00 $ 7,490.94 % 6.749999273
20. Principal Distribution Amount: $ 5,510,737.83
------------------------
21. Principal Distribution Amount per Certificate:
Principal Distribution Accrual Amount
---------------------- --------------
Class R $ 100.00 $ 0.00
Class PO $ 441.54 $ 0.00
Class A1 $ 5,496,688.00 $ 0.00
Class A2 $ 0.00 $ 0.00
Class A3 $ 0.00 $ 0.00
Class A4 $ 0.00 $ 0.00
Class SUP $ 0.00 $ 0.00
Class M $ 6,247.59 $ 0.00
Class B1 $ 2,701.66 $ 0.00
Class B2 $ 1,519.68 $ 0.00
Class B3 $ 1,350.83 $ 0.00
Class B4 $ 675.41 $ 0.00
Class B5 $ 1,013.12 $ 0.00
22. Additional distributions to the Class R Certificate pursuant to
the Agreement: $ 0.00
-----------------------
23. Additional distributions to the Class RL Certificate pursuant to the
Agreement: $ 0.00
-----------------------
24. Subordinate Certificate Writedown Amount: $ 0.00
-----------------------
25. Unanticipated Recoveries: $ 0.00
-----------------------
<PAGE>
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution Triggers satisfied:
Yes No
--- --
Class-B1 X
Class-B2 X
Class-B3 X
Class-B4 X
Class-B5 X
2. Base Servicing Fee amount: $ 33,432.83
-----------------------
3. Supplemental Servicing Fee amount: $ 193,291.91
-----------------------
4. Credit Losses for prior month: $ 0.00
-----------------------
Category Category Category
A B C
5. Senior Percentage: % N/A N/A N/A N/A
------- ------ ------- ------
6. Group I Senior Percentage:
% N/A N/A N/A N/A
------- ------ ------- ------
7. Group II Senior Percentage:
% N/A N/A N/A N/A
------- ------ ------- ------
8. Senior Prepayment Percentage:
% N/A N/A N/A N/A
------- ------ ------- ------
9. Group I Senior Prepayment
Percentage: % N/A N/A N/A N/A
------- ------ ------- ------
10. Group II Senior Prepayment
Percentage: % N/A N/A N/A N/A
------- ------ ------- ------
11. Junior Percentage: % N/A
-------
12. Junior Prepayment Percentage:
% N/A
-------
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
------------------------------------
Name: Karen Pickett
Title: Vice President,
Investor Operations
Exhibit 99.12
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
April, 1998
Series 1998-05, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1998
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
Weighted average coupon % 7.523019
-------------------------
Weighted average maturity 355.45
-------------------------
A. Amount of distribution allocable to principal and interest:
The amounts below are for a Single Certificate of $1,000:
1.
Principal
Principal Per Prepayments Per Interest Per
Class Certificate Certificate Certificate Payout Rate
----- ----------- ----------- ----------- -----------
R $ 1,000.0000000 $ 941.10000000 $ 5.60000000 % 6.72000000
PO $ 1.28869379 $ 0.30070689 $ 0.00000000 % 0.00000000
A1 $ 15.72728231 $ 14.80043601 $ 5.62499999 % 6.74999999
A2 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
A3 $ 0.00000000 $ 0.00000000 $ 5.62499999 % 6.74999998
A4 $ 0.00000000 $ 0.00000000 $ 5.62500024 % 6.75000028
M $ 0.76076202 $ 0.00000000 $ 5.62500008 % 6.75000009
B1 $ 0.76076183 $ 0.00000000 $ 5.62500141 % 6.75000169
B2 $ 0.76076014 $ 0.00000000 $ 5.62499844 % 6.74999812
B3 $ 0.76076183 $ 0.00000000 $ 5.62500141 % 6.75000169
B4 $ 0.76075705 $ 0.00000000 $ 5.62500211 % 6.75000253
B5 $ 0.76075891 $ 0.00000000 $ 5.62499939 % 6.74999927
2. Unanticipated Recoveries: $ 0.00
-----------------------
B. Accrual Amount
1.
Class Accrual Amount
N/A $ N/A
2. The amount of servicing compensation received by the Company during
the month preceding the month of distribution:
$ 33,432.83
-------------------------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 438,396,257.11
-------------------------
<PAGE>
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 1,405
-------------------------
3.
Beginning Aggregate Ending Aggregate Ending
Class Certificate Class Certificate Single Certificate
Class Principal Balance Principal Balance Balance Cusip
- ----- ----------------- ----------------- ------- -----
R $ 100.00 $ 0.00 $ 0.00 36158GAK4
PO $ 342,626.00 $ 342,184.46 $ 998.71 GEC9805PO
A1 $ 349,500,180.00 $ 344,003,492.00 $ 984.27 36158GAF5
A2 $ 12,632,000.00 $ 12,632,000.00 $ 1,000.00 36158GAG3
A3 $ 42,580,809.00 $ 42,580,809.00 $ 1,000.00 36158GAH1
A4 $ 21,095,000.00 $ 21,095,000.00 $ 1,000.00 36158GAJ7
SUP $ 427,635,050.23 $ 422,143,172.23 $ 987.16 GEC98005S
M $ 8,212,279.00 $ 8,206,031.41 $ 999.24 36158GAL2
B1 $ 3,551,256.00 $ 3,548,554.34 $ 999.24 36158GAM0
B2 $ 1,997,581.00 $ 1,996,061.32 $ 999.24 36158GAN8
B3 $ 1,775,628.00 $ 1,774,277.17 $ 999.24 36157REW1
B4 $ 887,813.00 $ 887,137.59 $ 999.24 36157REX9
B5 $ 1,331,722.81 $ 1,330,709.69 $ 999.24 36157REYY
D. The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the
month preceding the related Determination Date, were delinquent:
1. 30-59 days
Number 30 Principal Balance $ 10,879,241.95
-------- ------------------
2. 60-89 days
Number 0 Principal Balance $ 0.00
-------- ------------------
3. 90 days or more
Number 0 Principal Balance $ 0.00
-------- ------------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
-------- ------------------
5. Real Estate Owned
Number 0 Principal Balance $ 0.00
-------- ------------------
6. The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to the Pooling And Servicing Agreement:
$ 0.00
------------------
E. Other Information:
1. Special Hazard Loss Amount: $ 0.00
-------------------
2. Bankruptcy Loss Amount: $ 0.00
-------------------
3. Fraud Loss Amount: $ 0.00
-------------------
4. Certificate Interest Rate of the Class S Certificate: % 0.54240243
-------------------
*It has been the Company's experience that, with respect to the first
Distribution Date after the closing of a securitization containing a large
number of recently originated or acquired Mortgage Loans, the number of Mortgage
Loans 30-59 days delinquent may be inflated due to the borrowers sending monthly
payments to the wrong location or delays by the Company in inputting the
Mortgage Loans on its servicing system. It has also been the Company's
experience that for the majority of such Mortgage Loans the routing of
borrowers' monthly payments has corrected itself by the second Distribution
Date. However, the Company makes no assurances as to the level of delinquent
Mortgage Loans for future Distribution Dates.
Exhibit 99.13
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
April, 1998
Series 1998-6A, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1998
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate scheduled Monthly Payments:
(a) Principal $ 154,509.78
--------------
(b) Interest $ 1,254,487.37
--------------
(c) Total $ 1,408,997.15
--------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 125,967.41
--------------
(b) Interest $ 1,025,282.34
--------------
(c) Total $ 1,151,249.75
--------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 28,542.37
--------------
(b) Interest $ 229,205.03
--------------
(c) Total $ 257,747.40
--------------
4. Aggregate Principal Prepayments in part received in the applicable
Prepayment Period:
(a) Principal $ 29,966.99
--------------
5. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $ 703,086.55
--------------
(b) Interest $ 0.00
--------------
(c) Total $ 703,086.55
--------------
6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
--------------
(b) Interest $ 0.00
--------------
(c) Total $ 0.00
--------------
<PAGE>
7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
--------------
(b) Interest $ 0.00
--------------
(c) Total $ 0.00
--------------
8. Aggregate Deficient Valuations with respect to the Mortgage
Loans during the prior month: $ 0.00
--------------
9. Aggregate Debt Service Reductions with respect to the Mortgage Loans
during the prior month: $ 0.00
--------------
10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
--------------
(b) Interest $ 0.00
--------------
(c) Total $ 0.00
--------------
11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 0.00
--------------
(b) Interest $ 0.00
--------------
(c) Total $ 0.00
--------------
12. Pool Scheduled Principal Balance: $ 201,961,788.23
---------------
13. Available Funds: $ 2,027,567.88
---------------
14. Realized Losses for prior month: $ 0.00
---------------
15. Aggregate Realized Losses
(a) Aggregate Realized Losses: $ 0.00
---------------------
(b) Deficient Valuations: $ 0.00
---------------------
(c) Debt Service Reductions: $ 0.00
---------------------
(d) Bankruptcy Losses: $ 0.00
---------------------
(e) Special Hazard Losses: $ 0.00
---------------------
(f) Fraud Losses: $ 0.00
---------------------
(g) Excess Bankruptcy Losses: $ 0.00
---------------------
(h) Excess Special Hazard Losses: $ 0.00
---------------------
(i) Excess Fraud Losses: $ 0.00
---------------------
16. Non-Credit Losses: $ 0.00
---------------------
17. Compensating Interest Payment: $ 1,587.83
---------------------
18. Total interest payments: $ 1,140,004.00
---------------------
<PAGE>
19. Interest
Unpaid Class
Accrued Certificate Interest Interest
Class Interest Shortfalls Payable Pay-out Rate
- ----- -------- ---------- ------- ------------
1PO $ 0.00 $ 0.00 $ 0.00 % 0.000000000
1A1 $ 726,390.00 $ 0.00 $ 726,390.00 % 6.750000000
1A2 $ 182,835.00 $ 0.00 $ 182,835.00 % 6.750000000
1A3 $ 43,101.31 $ 0.00 $ 43,101.31 % 6.425000093
1A4 $ 17,274.07 $ 0.00 $ 17,274.07 % 7.725001957
1A5 $ 23,062.50 $ 0.00 $ 23,062.50 % 6.750000000
1A6 $ 101,700.00 $ 0.00 $ 101,700.00 % 6.750000000
1R $ 0.56 $ 0.00 $ 0.56 % 6.720000000
1M $ 21,110.63 $ 0.00 $ 21,110.63 % 6.750001599
1B1 $ 9,129.38 $ 0.00 $ 9,129.38 % 6.750003697
1B2 $ 5,135.63 $ 0.00 $ 5,135.63 % 6.750006572
1B3 $ 4,561.88 $ 0.00 $ 4,561.88 % 6.750007398
1B4 $ 2,282.06 $ 0.00 $ 2,282.06 % 6.749992605
1B5 $ 3,421.60 $ 0.00 $ 3,421.60 % 6.750004932
20. Principal Distribution Amount: $ 887,563.31
--------------------
21. Principal Distribution Amount per Certificate:
Principal Distribution Accrual Amount
---------------------- --------------
Class 1PO $ 160.93 $ 0.00
Class 1A1 $ 881,122.75 $ 0.00
Class 1A2 $ 0.00 $ 0.00
Class 1A3 $ 0.00 $ 0.00
Class 1A4 $ 0.00 $ 0.00
Class 1A5 $ 0.00 $ 0.00
Class 1A6 $ 0.00 $ 0.00
Class SUP1 $ 0.00 $ 0.00
Class 1R $ 100.00 $ 0.00
Class 1M $ 2,858.30 $ 0.00
Class 1B1 $ 1,236.08 $ 0.00
Class 1B2 $ 695.34 $ 0.00
Class 1B3 $ 617.66 $ 0.00
Class 1B4 $ 308.98 $ 0.00
Class 1B5 $ 463.27 $ 0.00
22. Additional distributions to the Class R Certificate pursuant to
the Agreement: $ 0.00
-----------------------
23. Additional distributions to the Class RL Certificate pursuant to
the Agreement: $ 0.00
----------------------
24. Subordinate Certificate Writedown Amount: $ 0.00
----------------------
25. Unanticipated Recoveries: $ 0.00
----------------------
26. The Certificate Interest Rate applicable to the Interest Accrual Period
relating to such Distribution Date applicable to any floating index
certificate.
<PAGE>
Certificate Interest
Class Rates
----- -----
Class 1A3 % 6.42500009
Class 1A4 % 7.72500196
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution
Triggers satisfied: Yes No
--- --
Class-1B1 X
Class-1B2 X
Class-1B3 X
Class-1B4 X
Class-1B5 X
2. Base Servicing Fee amount: $ 12,196.40
-----------------------
3. Supplemental Servicing Fee amount: $ 75,135.33
-----------------------
4. Credit Losses for prior month: $ 0.00
-----------------------
Category Category Category
A B C
5. Senior Percentage: % N/A N/A N/A N/A
------ ------- ------ ------
6. Group I Senior Percentage:
% N/A N/A N/A N/A
------ ------- ------ ------
7. Group II Senior Percentage:
% N/A N/A N/A N/A
------ ------- ------ ------
8. Senior Prepayment Percentage:
% N/A N/A N/A N/A
------ ------- ------ ------
9. Group I Senior Prepayment
Percentage: % N/A N/A N/A N/A
------ ------- ------ ------
10. Group II Senior Prepayment
Percentage: % N/A N/A N/A N/A
------ ------- ------ ------
11. Junior Percentage: % N/A
------
12. Junior Prepayment Percentage:
% N/A
------
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
------------------------------------
Name: Karen Pickett
Title: Vice President,
Investor Operations
Exhibit 99.14
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
April, 1998
Series 1998-6A, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1998
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
Weighted average coupon % 7.448117
----------------
Weighted average maturity 356.84
----------------
A. Amount of distribution allocable to principal and interest:
The amounts below are for a Single Certificate of $1,000:
1. Principal
Principal Per Prepayments Per Interest Per
Class Certificate Certificate Certificate Payout Rate
----- ----------- ----------- ----------- -----------
1PO $ 0.88487741 $ 0.01913486 $ 0.00000000 % 0.00000000
1A1 $ 6.82321545 $ 5.67592987 $ 5.62500000 % 6.75000000
1A2 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
1A3 $ 0.00000000 $ 0.00000000 $ 5.35416674 % 6.42500009
1A4 $ 0.00000000 $ 0.00000000 $ 6.43750163 % 7.72500196
1A5 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
1A6 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
1R $1,000.00000000 $ 831.90000000 $ 5.60000000 % 6.72000000
1M $ 0.76160405 $ 0.00000000 $ 5.62500133 % 6.75000160
1B1 $ 0.76160197 $ 0.00000000 $ 5.62500308 % 6.75000370
1B2 $ 0.76159912 $ 0.00000000 $ 5.62500548 % 6.75000657
1B3 $ 0.76160296 $ 0.00000000 $ 5.62500617 % 6.75000740
1B4 $ 0.76159724 $ 0.00000000 $ 5.62499384 % 6.74999261
1B5 $ 0.76160149 $ 0.00000000 $ 5.62500411 % 6.75000493
2. Unanticipated Recoveries: $ 0.00
-------------
B. Accrual Amount
1.
Class Accrual Amount
N/A $ N/A
2. The amount of servicing compensation received by the Company during
the month preceding the month of distribution:
$ 12,196.40
-----------------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 201,961,788.23
-----------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 649
-----------------
3.
Beginning Aggregate Ending Aggregate Ending
Class Certificate Class Certificate Single Certificate
Class Principal Balance Principal Balance Balance Cusip
- ----- ----------------- ----------------- ------- -----
1PO $ 181,867.00 $ 181,706.07 $ 999.12 GEC986PO1
1A1 $ 129,136,000.00 $ 128,254,877.25 $ 993.18 36158GBH0
1A2 $ 32,504,000.00 $ 32,504,000.00 $ 1,000.00 36158GBJ6
1A3 $ 8,050,050.00 $ 8,050,050.00 $ 1,000.00 36158GBK3
1A4 $ 2,683,350.00 $ 2,683,350.00 $ 1,000.00 36158GBL1
1A5 $ 4,100,000.00 $ 4,100,000.00 $ 1,000.00 36158GBM9
1A6 $ 18,080,000.00 $ 18,080,000.00 $ 1,000.00 36158GBN7
SUP1 $ 194,430,335.02 $ 193,550,339.60 $ 995.47
1R $ 100.00 $ 0.00 $ 0.00 36158GCD8
1M $ 3,753,000.00 $ 3,750,141.70 $ 999.24 36158GBP2
1B1 $ 1,623,000.00 $ 1,621,763.92 $ 999.24 36158GBQ0
1B2 $ 913,000.00 $ 912,304.66 $ 999.24 36158GBR8
1B3 $ 811,000.00 $ 810,382.34 $ 999.24 36158GCE6
1B4 $ 405,700.00 $ 405,391.02 $ 999.24 36158GCF3
1B5 $ 608,284.00 $ 607,820.73 $ 999.24 36158GCG1
<PAGE>
D. The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the
month preceding the related Determination Date, were delinquent:
1. 30-59 days
Number 4 Principal Balance $ 1,391,450.00
-------- --------------
2. 60-89 days
Number 0 Principal Balance $ 0.00
-------- --------------
3. 90 days or more
Number 0 Principal Balance $ 0.00
-------- --------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
-------- --------------
5. Real Estate Owned
Number 0 Principal Balance $ 0.00
-------- --------------
6. The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to the Pooling And Servicing Agreement:
$ 0.00
--------------
7. The Certificate Interest Rate applicable to the Interest Accrual
Period relating to such Distribution Date applicable to any floating
index certificate:
Certificate Interest
Class Rates
1A3 % 6.42500009
1A4 % 7.72500196
E. Other Information:
1. Special Hazard Loss Amount: $ 0.00
---------
2. Bankruptcy Loss Amount: $ 0.00
---------
3. Fraud Loss Amount: $ 0.00
---------
4. Certificate Interest Rate of the Class S Certificate: %0.46372597
---------
*It has been the Company's experience that, with respect to the first
Distribution Date after the closing of a securitization containing a large
number of recently originated or acquired Mortgage Loans, the number of Mortgage
Loans 30-59 days delinquent may be inflated due to the borrowers sending monthly
payments to the wrong location or delays by the Company in inputting the
Mortgage Loans on its servicing system. It has also been the Company's
experience that for the majority of such Mortgage Loans the routing of
borrowers' monthly payments has corrected itself by the second Distribution
Date. However, the Company makes no assurances as to the level of delinquent
Mortgage Loans for future Distribution Dates.
Exhibit 99.15
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
April, 1998
Series 1998-6B, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1998
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate scheduled Monthly Payments:
(a) Principal $ 249,014.04
--------------
(b) Interest $ 2,023,171.04
--------------
(c) Total $ 2,272,185.08
--------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 220,678.67
--------------
(b) Interest $ 1,793,978.57
--------------
(c) Total $ 2,014,657.24
--------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 28,335.37
--------------
(b) Interest $ 229,192.47
--------------
(c) Total $ 257,527.84
--------------
4. Aggregate Principal Prepayments in part received in the applicable
Prepayment Period:
(a) Principal $ 29,952.88
--------------
5. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $ 1,071,233.74
--------------
(b) Interest $ 5,355.21
--------------
(c) Total $ 1,076,588.95
--------------
6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
--------------
(b) Interest $ 0.00
--------------
(c) Total $ 0.00
--------------
<PAGE>
7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
--------------
(b) Interest $ 0.00
--------------
(c) Total $ 0.00
--------------
8. Aggregate Deficient Valuations with respect to the Mortgage
Loans during the prior month: $ 0.00
--------------
9. Aggregate Debt Service Reductions with respect to the Mortgage Loans
during the prior month: $ 0.00
--------------
10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
--------------
(b) Interest $ 0.00
--------------
(c) Total $ 0.00
--------------
11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 0.00
--------------
(b) Interest $ 0.00
--------------
(c) Total $ 0.00
--------------
12. Pool Scheduled Principal Balance: $ 325,038,214.40
---------------
13. Available Funds: $ 3,185,168.85
---------------
14. Realized Losses for prior month: $ 0.00
---------------
15. Aggregate Realized Losses
(a) Aggregate Realized Losses: $ 0.00
-----------------------
(b) Deficient Valuations: $ 0.00
-----------------------
(c) Debt Service Reductions: $ 0.00
-----------------------
(d) Bankruptcy Losses: $ 0.00
-----------------------
(e) Special Hazard Losses: $ 0.00
-----------------------
(f) Fraud Losses: $ 0.00
-----------------------
(g) Excess Bankruptcy Losses: $ 0.00
-----------------------
(h) Excess Special Hazard Losses: $ 0.00
-----------------------
(i) Excess Fraud Losses: $ 0.00
-----------------------
16. Non-Credit Losses: $ 0.00
-----------------------
17. Compensating Interest Payment: $ 1,574.14
-----------------------
18. Total interest payments: $ 1,834,968.18
-----------------------
<PAGE>
19. Interest
Unpaid Class
Accrued Certificate Interest Interest
Class Interest Shortfalls Payable Pay-out Rate
- ----- -------- ---------- ------- ------------
2PO $ 0.00 $ 0.00 $ 0.00 % 0.000000000
2A1 $ 18,281.25 $ 0.00 $ 18,281.25 % 6.750000000
2A2 $ 451,096.88 $ 0.00 $ 451,096.88 % 6.750000075
2A3 $ 708,750.00 $ 0.00 $ 708,750.00 % 6.750000000
2A4 $ 123,238.13 $ 0.00 $ 123,238.13 % 6.750000274
2A5 $ 90,759.38 $ 0.00 $ 90,759.38 % 6.750000372
2A6 $ 133,206.31 $ 0.00 $ 133,206.31 % 6.424999879
2A7 $ 53,386.19 $ 0.00 $ 53,386.19 % 7.725000362
2A8 $ 182,812.50 $ 0.00 $ 182,812.50 % 6.750000000
2M $ 33,963.75 $ 0.00 $ 33,963.75 % 6.750000000
2B1 $ 14,686.88 $ 0.00 $ 14,686.88 % 6.750002298
2B2 $ 8,263.13 $ 0.00 $ 8,263.13 % 6.750004084
2B3 $ 7,343.44 $ 0.00 $ 7,343.44 % 6.750002298
2B4 $ 3,671.72 $ 0.00 $ 3,671.72 % 6.750002298
2B5 $ 5,508.52 $ 0.00 $ 5,508.52 % 6.749995550
20. Principal Distribution Amount: $ 1,350,200.67
---------------
21. Principal Distribution Amount per Certificate:
Principal Distribution Accrual Amount
---------------------- --------------
Class 2PO $ 153.62 $ 0.00
Class 2A1 $ 136,229.30 $ 0.00
Class 2A2 $ 521,601.35 $ 0.00
Class 2A3 $ 682,256.52 $ 0.00
Class 2A4 $ 0.00 $ 0.00
Class 2A5 $ 0.00 $ 0.00
Class 2A6 $ 0.00 $ 0.00
Class 2A7 $ 0.00 $ 0.00
Class 2A8 $ 0.00 $ 0.00
Class SUP2 $ 0.00 $ 0.00
Class 2M $ 4,606.30 $ 0.00
Class 2B1 $ 1,991.89 $ 0.00
Class 2B2 $ 1,120.68 $ 0.00
Class 2B3 $ 995.95 $ 0.00
Class 2B4 $ 497.97 $ 0.00
Class 2B5 $ 747.09 $ 0.00
22. Additional distributions to the Class R Certificate pursuant to the
Agreement: $ 0.00
-------------------
23. Additional distributions to the Class RL Certificate pursuant to the
Agreement: $ 0.00
------------------
<PAGE>
24. Subordinate Certificate Writedown Amount: $ 0.00
------------------
25. Unanticipated Recoveries: $ 0.00
------------------
26. The Certificate Interest Rate applicable to the Interest Accrual Period
relating to such Distribution Date applicable to any floating index
certificate. Certificate Interest
Class Rates
----- -----
Class 2A6 % 6.42499988
Class 2A7 % 7.72500036
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution
Triggers satisfied: Yes No
--- --
Class-2B1 X
Class-2B2 X
Class-2B3 X
Class-2B4 X
Class-2B5 X
2. Base Servicing Fee amount: $ 20,326.39
-------------------
3. Supplemental Servicing Fee amount: $ 125,302.00
-------------------
4. Credit Losses for prior month: $ 0.00
-------------------
Category Category Category
A B C
5. Senior Percentage: % N/A N/A N/A N/A
----- ------- ------ -------
6. Group I Senior Percentage:
% N/A N/A N/A N/A
----- ------- ------ -------
7. Group II Senior Percentage:
% N/A N/A N/A N/A
----- ------- ------ -------
8. Senior Prepayment Percentage:
% N/A N/A N/A N/A
----- ------- ------ -------
9. Group I Senior Prepayment
Percentage: % N/A N/A N/A N/A
----- ------- ------ -------
10. Group II Senior Prepayment
Percentage: % N/A N/A N/A N/A
----- ------- ------ -------
11. Junior Percentage: % N/A
-----
12. Junior Prepayment Percentage:
% N/A
-----
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
------------------------------------
Name: Karen Pickett
Vice President,
Investor Operations
Exhibit 99.16
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
April, 1998
Series 1998-6B, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1998
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
Weighted average coupon % 7.464352
------------
Weighted average maturity 356.48
------------
A. Amount of distribution allocable to principal and interest:
The amounts below are for a Single Certificate of $1,000:
1. Principal
Principal Per Prepayments Per Interest Per
Class Certificate Certificate Certificate Payout Rate
----- ----------- ----------- ----------- -----------
2PO $ 0.89380469 $ 0.03054599 $ 0.00000000 % 0.00000000
2A1 $ 41.91670769 $ 34.44395077 $ 5.62500000 % 6.75000000
2A2 $ 6.50416298 $ 5.34462485 $ 5.62500006 % 6.75000007
2A3 $ 5.41473429 $ 4.44941540 $ 5.62500000 % 6.75000000
2A4 $ 0.00000000 $ 0.00000000 $ 5.62500023 % 6.75000027
2A5 $ 0.00000000 $ 0.00000000 $ 5.62500031 % 6.75000037
2A6 $ 0.00000000 $ 0.00000000 $ 5.35416657 % 6.42499988
2A7 $ 0.00000000 $ 0.00000000 $ 6.43750030 % 7.72500036
2A8 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
2M $ 0.76288506 $ 0.00000000 $ 5.62500000 % 6.75000000
2B1 $ 0.76288395 $ 0.00000000 $ 5.62500191 % 6.75000230
2B2 $ 0.76288632 $ 0.00000000 $ 5.62500340 % 6.75000408
2B3 $ 0.76288778 $ 0.00000000 $ 5.62500191 % 6.75000230
2B4 $ 0.76288012 $ 0.00000000 $ 5.62500191 % 6.75000230
2B5 $ 0.76288703 $ 0.00000000 $ 5.62499629 % 6.74999555
2. Unanticipated Recoveries: $ 0.00
---------------
B. Accrual Amount
1. Class Accrual Amount
N/A $ N/A
2. The amount of servicing compensation received by the Company during
the month preceding the month of distribution: $ 20,326.39
---------------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 325,038,214.40
---------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 1,034
---------------
<PAGE>
3. Beginning Aggregate Ending Aggregate Ending
Class Certificate Class Certificate Single Certificate
Class Principal Balance Principal Balance Balance Cusip
- ----- ----------------- ----------------- ------- -----
2PO $ 171,872.00 $ 171,718.38 $ 999.11 GEC986PO2
2A1 $ 3,250,000.00 $ 3,113,770.70 $ 958.08 36158GBS6
2A2 $ 80,195,000.00 $ 79,673,398.65 $ 993.50 36158GBT4
2A3 $ 126,000,000.00 $ 125,317,743.48 $ 994.59 36158GBU1
2A4 $ 21,909,000.00 $ 21,909,000.00 $ 1,000.00 36158GBV9
2A5 $ 16,135,000.00 $ 16,135,000.00 $ 1,000.00 36158GBW7
2A6 $ 24,879,000.00 $ 24,879,000.00 $ 1,000.00 36158GBX5
2A7 $ 8,293,000.00 $ 8,293,000.00 $ 1,000.00 36158GBY3
2A8 $ 32,500,000.00 $ 32,500,000.00 $ 1,000.00 36158GBZ0
SUP2 $ 316,868,622.90 $ 315,526,945.32 $ 995.77
2M $ 6,038,000.00 $ 6,033,393.70 $ 999.24 36158GCA4
2B1 $ 2,611,000.00 $ 2,609,008.11 $ 999.24 36158GCB2
2B2 $ 1,469,000.00 $ 1,467,879.32 $ 999.24 36158GCC0
2B3 $ 1,305,500.00 $ 1,304,504.05 $ 999.24 36158GCH9
2B4 $ 652,750.00 $ 652,252.03 $ 999.24 36158GCJ5
2B5 $ 979,293.09 $ 978,546.00 $ 999.24 36158GCK2
D. The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the
month preceding the related Determination Date, were delinquent:
1. 30-59 days
Number 1 Principal Balance $ 392,000.00
-------- ------------------
2. 60-89 days
Number 0 Principal Balance $ 0.00
-------- ------------------
3. 90 days or more
Number 0 Principal Balance $ 0.00
-------- ------------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
-------- ------------------
5. Real Estate Owned
Number 0 Principal Balance $ 0.00
-------- ------------------
6. The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to the Pooling And Servicing Agreement:
$ 0.00
------------------
7. The Certificate Interest Rate applicable to the Interest Accrual
Period relating to such Distribution Date applicable to any floating
index certificate:
Certificate Interest
Class Rates
----- -----
2A6 % 6.42499988
2A7 % 7.72500036
<PAGE>
E. Other Information:
1. Special Hazard Loss Amount: $ 0.00
---------------
2. Bankruptcy Loss Amount: $ 0.00
---------------
3. Fraud Loss Amount: $ 0.00
---------------
4. Certificate Interest Rate of the Class S Certificate: % 0.47452558
------------------
*It has been the Company's experience that, with respect to the first
Distribution Date after the closing of a securitization containing a large
number of recently originated or acquired Mortgage Loans, the number of Mortgage
Loans 30-59 days delinquent may be inflated due to the borrowers sending monthly
payments to the wrong location or delays by the Company in inputting the
Mortgage Loans on its servicing system. It has also been the Company's
experience that for the majority of such Mortgage Loans the routing of
borrowers' monthly payments has corrected itself by the second Distribution
Date. However, the Company makes no assurances as to the level of delinquent
Mortgage Loans for future Distribution Dates.
Exhibit 99.17
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
April, 1998
Series 1998-07, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1998
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate scheduled Monthly Payments:
(a) Principal $ 544,388.59
---------------
(b) Interest $ 1,026,036.96
---------------
(c) Total $ 1,570,425.55
---------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 369,891.74
---------------
(b) Interest $ 699,640.53
---------------
(c) Total $ 1,069,532.27
---------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 174,496.85
---------------
(b) Interest $ 326,396.43
---------------
(c) Total $ 500,893.28
---------------
4. Aggregate Principal Prepayments in part received in the applicable
Prepayment Period:
(a) Principal $ 241,587.39
---------------
5. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $ 1,869,119.88
---------------
(b) Interest $ 11,452.69
---------------
(c) Total $ 1,880,572.57
---------------
6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 0.00
---------------
<PAGE>
7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 0.00
---------------
8. Aggregate Deficient Valuations with respect to the Mortgage
Loans during the prior month: $ 0.00
---------------
9. Aggregate Debt Service Reductions with respect to the Mortgage Loans
during the prior month: $ 0.00
---------------
10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 0.00
---------------
11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 287,016.52
---------------
(b) Interest $ 1,761.92
---------------
(c) Total $ 288,778.44
---------------
12. Pool Scheduled Principal Balance: $ 170,115,633.67
---------------
13. Available Funds: $ 3,877,921.64
---------------
14. Realized Losses for prior month: $ 0.00
---------------
15. Aggregate Realized Losses (a) Aggregate Realized Losses: $ 0.00
--------
(b) Deficient Valuations: $ 0.00
--------
(c) Debt Service Reductions: $ 0.00
--------
(d) Bankruptcy Losses: $ 0.00
--------
(e) Special Hazard Losses: $ 0.00
--------
(f) Fraud Losses: $ 0.00
--------
(g) Excess Bankruptcy Losses: $ 0.00
--------
(h) Excess Special Hazard Losses:$ 0.00
--------
(i) Excess Fraud Losses: $ 0.00
--------
16. Non-Credit Losses: $ 0.00
--------------
17. Compensating Interest Payment: $ 1,692.66
--------------
18. Total interest payments: $ 935,809.25
--------------
<PAGE>
19. Interest
Unpaid Class
Accrued Certificate Interest Interest
Class Interest Shortfalls Payable Pay-out Rate
- ----- -------- ---------- ------- ------------
R $ 0.54 $ 0.00 $ 0.54 % 6.480000000
PO $ 0.00 $ 0.00 $ 0.00 % 0.000000000
A $ 914,712.50 $ 0.00 $ 914,712.50 % 6.500000000
M $ 9,378.75 $ 0.00 $ 9,378.75 % 6.500002021
B1 $ 2,343.49 $ 0.00 $ 2,343.49 % 6.500004623
B2 $ 2,343.49 $ 0.00 $ 2,343.49 % 6.500004623
B3 $ 3,749.58 $ 0.00 $ 3,749.58 % 6.500001445
B4 $ 1,874.79 $ 0.00 $ 1,874.79 % 6.500001445
B5 $ 1,406.11 $ 0.00 $ 1,406.11 % 6.500015736
20. Principal Distribution Amount: $ 2,942,112.39
--------------
21. Principal Distribution Amount per Certificate:
Principal Distribution Accrual Amount
---------------------- --------------
Class R $ 100.00 $ 0.00
Class PO $ 1,046.68 $ 0.00
Class A $ 2,928,715.57 $ 0.00
Class SUP $ 0.00 $ 0.00
Class M $ 5,446.05 $ 0.00
Class B1 $ 1,360.82 $ 0.00
Class B2 $ 1,360.82 $ 0.00
Class B3 $ 2,177.30 $ 0.00
Class B4 $ 1,088.65 $ 0.00
Class B5 $ 816.50 $ 0.00
22. Additional distributions to the Class R Certificate pursuant to the
Agreement:
$ 0.00
-----------------------
23. Additional distributions to the Class RL Certificate pursuant to the
Agreement:
$ 0.00
-----------------------
24. Subordinate Certificate Writedown Amount: $ 0.00
-----------------------
25. Unanticipated Recoveries: $ 0.00
-----------------------
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution
Triggers satisfied: Yes No
--- --
Class-B1 X
Class-B2 X
Class-B3 X
Class-B4 X
Class-B5 X
<PAGE>
2. Base Servicing Fee amount: $ 12,921.57
------------------
3. Supplemental Servicing Fee amount: $ 65,595.98
------------------
4. Credit Losses for prior month: $ 0.00
------------------
Category Category Category
A B C
5. Senior Percentage: % N/A N/A N/A N/A
------ ------ ------ -------
6. Group I Senior Percentage:
% N/A N/A N/A N/A
------ ------ ------ -------
7. Group II Senior Percentage:
% N/A N/A N/A N/A
------ ------ ------ -------
8. Senior Prepayment Percentage:
% N/A N/A N/A N/A
------ ------ ------ -------
9. Group I Senior Prepayment
Percentage: % N/A N/A N/A N/A
------ ------ ------ -------
10. Group II Senior Prepayment
Percentage: % N/A N/A N/A N/A
------ ------ ------ -------
11. Junior Percentage: % N/A
------
12. Junior Prepayment Percentage:
% N/A
------
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
-------------------------------
Name: Karen Pickett
Title: Vice President,
Investor Operations
Exhibit 99.18
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
April, 1998
Series 1998-07, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1998
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
Weighted average coupon % 7.207047
-----------
Weighted average maturity 176.38
-----------
A. Amount of distribution allocable to principal and interest:
The amounts below are for a Single Certificate of $1,000:
1.
Principal
Principal Per Prepayments Per Interest Per
Class Certificate Certificate Certificate Payout Rate
----- ----------- ----------- ----------- -----------
R $1,000.00000000 $ 818.60000000 $ 5.40000000 % 6.48000000
PO $ 3.57273785 $ 0.21606824 $ 0.00000000 % 0.00000000
A $ 17.34301871 $ 14.19777717 $ 5.41666667 % 6.50000000
M $ 3.14534951 $ 0.00000000 $ 5.41666835 % 6.50000202
B1 $ 3.14535738 $ 0.00000000 $ 5.41667052 % 6.50000462
B2 $ 3.14535738 $ 0.00000000 $ 5.41667052 % 6.50000462
B3 $ 3.14534187 $ 0.00000000 $ 5.41666787 % 6.50000144
B4 $ 3.14534187 $ 0.00000000 $ 5.41666787 % 6.50000144
B5 $ 3.14535779 $ 0.00000000 $ 5.41667978 % 6.50001574
2. Unanticipated Recoveries: $ 0.00
---------------
B. Accrual Amount
1. Class Accrual Amount
N/A $ N/A
2. The amount of servicing compensation received by the Company during
the month preceding the month of distribution: $ 12,921.57
---------------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 170,115,633.67
---------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 510
---------------
<PAGE>
3.
Beginning Aggregate Ending Aggregate Ending
Class Certificate Class Certificate Single Certificate
Class Principal Balance Principal Balance Balance Cusip
- ----- ----------------- ----------------- ------- -----
R $ 100.00 $ 0.00 $ 0.00 36158GAB4
PO $ 292,963.00 $ 291,916.32 $ 996.43 GEC9807PO
A $ 168,870,000.00 $ 165,941,284.43 $ 982.66 36158GAA6
SUP $ 162,715,111.00 $ 159,808,566.44 $ 982.14
M $ 1,731,461.00 $ 1,726,014.95 $ 996.85 36158GAC2
B1 $ 432,644.00 $ 431,283.18 $ 996.85 36158GAD0
B2 $ 432,644.00 $ 431,283.18 $ 996.85 36158GAE8
B3 $ 692,230.00 $ 690,052.70 $ 996.85 36158GAP3
B4 $ 346,115.00 $ 345,026.35 $ 996.85 36158GAQ1
B5 $ 259,588.91 $ 258,772.41 $ 996.85 36158GAR9
D. The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the
month preceding the related Determination Date, were delinquent:
1. 30-59 days
Number 5 Principal Balance $ 1,303,241.94
-------- ---------------
2. 60-89 days
Number 0 Principal Balance $ 0.00
-------- ---------------
3. 90 days or more
Number 0 Principal Balance $ 0.00
-------- ---------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
-------- ---------------
5. Real Estate Owned
Number 0 Principal Balance $ 0.00
-------- ---------------
6. The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to the Pooling And Servicing Agreement: $ 0.00
---------------
E. Other Information:
1. Special Hazard Loss Amount: $ 0.00
-------
2. Bankruptcy Loss Amount: $ 0.00
-------
3. Fraud Loss Amount: $ 0.00
-------
4. Certificate Interest Rate of the Class S Certificate: % 0.48376070
----------
*It has been the Company's experience that, with respect to the first
Distribution Date after the closing of a securitization containing a large
number of recently originated or acquired Mortgage Loans, the number of Mortgage
Loans 30-59 days delinquent may be inflated due to the borrowers sending monthly
payments to the wrong location or delays by the Company in inputting the
Mortgage Loans on its servicing system. It has also been the Company's
experience that for the majority of such Mortgage Loans the routing of
borrowers' monthly payments has corrected itself by the second Distribution
Date. However, the Company makes no assurances as to the level of delinquent
Mortgage Loans for future Distribution Dates.
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