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) October 29. 1998
GE CAPITAL MORTGAGE SERVICES, INC.
(as Seller and Servicer under the Pooling and
Servicing Agreement, dated as of October 1, 1998,
providing for the issuance of REMIC Multi-Class
Pass-Through Certificates, Series 1998-19)
GE Capital Mortgage Services, Inc.
(Exact name of registrant as specified in its charter)
New Jersey 33-5042 21-0627285
----------------------------------------------------------
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
Three Executive Campus
Cherry Hill, New Jersey 08002
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including area code (609) 661-6100
<PAGE>
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
General.
On October 29. 1998, GE Capital Mortgage Services, Inc.
("GECMSI") offered to investors certain classes of its REMIC
Multi-Class Pass-Through Certificates, Series 1998-19 (the
"Certificates") evidencing beneficial ownership interests in a
trust fund (the "Trust Fund"). The assets of the Trust Fund
consist primarily of a pool ("Pool 1998-19") of conventional,
one- to four-family residential loans (the "Mortgage Loans").
Capitalized terms used herein and not otherwise defined shall
have the meanings assigned to them in the Prospectus dated
October 22, 1998 as supplemented by the Prospectus Supplement
dated October 22, 1998.
The original principal balance of each Class of the Certificates
is as follows:
Class A1 $127,825,000.00
Class A2 $150,750,000.00
Class A3 $14,906,000.00
Class A4 $1,000,000.00
Class A5 $1,000,000.00
Class A6 $6,733,433.00
Class A7 $1,000,000.00
Class A8 $5,000,000.00
Class A9 $2,000,000.00
Class A10 $10,520,990.00
Class A11 $2,945,877.00
Class A12 $37,645,000.00
Class R $100.00
Class M $5,646,000.00
Class B1 $2,824,000.00
Class B2 $1,882,000.00
Class B3 $2,447,000.00
Class B4 $1,129,000.00
Class B5 $1,130,171.79
Class PO $67,341.27
---------------
Total : $376,451,913.06
The initial Junior Percentage and initial Senior Percentage for
Pool 1998-19 are approximately 4.00% and 96.00%, respectively.
The "Bankruptcy Loss Amount," the "Fraud Loss Amount" and the
"Special Hazard Loss Amount" for Pool 1998-19 as of the initial
issuance of the Certificates are $129,020.00, $3,764,519.00 and
$3,764,519.00, respectively, representing approximately .0300%,
1.0000%, and 1.0000%, respectively, of the aggregate Scheduled
Principal Balances of the Mortgage Loans as of October 1, 1998
(the "Cut-off Date").
2
<PAGE>
Description of the Mortgage Pool and the Mortgaged Properties
Pool 1998-19
Pool 1998-19 consists primarily of fixed-rate, fully-amortizing
conventional Mortgage Loans evidenced by Mortgage Notes which
have original maturities of 20 to 30 years and an aggregate
outstanding Scheduled Principal Balance as of the Cut-off Date,
after deducting payments of principal due on or before such date
and prepayments of principal received before such date, of
$376,451,913.06.
The interest rates (the "Mortgage Rates") borne by the 1,120
Mortgage Loans conveyed by GECMSI to Pool 1998-19 range from
6.3750% to 8.3750% and the weighted average Mortgage Rate as of
the Cut-off Date is 7.2752% per annum (all weighted averages in
this filing are weighted by aggregate outstanding Scheduled
Principal Balance as of the Cut-off Date). At origination, the
principal balances of the Mortgage Loans in Pool 1998-19 ranged
from $227,500.00 to $1,443,750.00, and, as of the Cut-off Date,
the average outstanding Scheduled Principal Balance of the
Mortgage Loans in Pool 1998-19 is $336,117.78, after application
of principal payments due on or before the Cut-off Date and
prepayments of principal received before such date. The earliest
origination date of any Mortgage Loan in Pool 1998-19 is March
1997, and the latest scheduled maturity date of any such Mortgage
Loan is October 2028. The weighted average loan-to-value ratio of
the Mortgage Loans as of the Cut-off Date in Pool 1998-19 is
74.5349%.
The Mortgage Loans in Pool 1998-19 have the following
characteristics as of the Cut-off Date.
a) The following table sets forth information, as of the Cut-off
Date, with respect to the Mortgage Rates borne by the Mortgage
Loans in Pool 1998-19:
AGGREGATE % OF
BALANCES POOL BY
MORTGAGE # OF AS OF AGGREGATE
RATES LOANS CUT-OFF DATE BALANCE
-------- ----- ------------ ---------
6.3750% 1 $244,473.36 0.0649%
6.5000% 3 $886,310.44 0.2354%
6.6250% 5 $1,334,286.86 0.3544%
6.7500% 28 $9,456,631.85 2.5120%
6.8750% 58 $18,807,496.56 4.9960%
7.0000% 97 $32,126,387.27 8.5340%
7.1250% 191 $62,601,297.51 16.6293%
7.2500% 259 $88,339,154.11 23.4664%
7.3750% 220 $74,597,084.14 19.8158%
7.5000% 144 $48,435,921.75 12.8664%
7.6250% 75 $26,866,578.57 7.1368%
7.7500% 22 $7,410,273.01 1.9685%
7.8750% 14 $4,418,419.79 1.1737%
8.0000% 1 $339,771.87 0.0903%
8.2500% 1 $308,000.00 0.0818%
8.3750% 1 $279,825.97 0.0743%
----- --------------- ---------
Total 1,120 $376,451,913.06 100.0000%
3
<PAGE>
b) The following table sets forth information, as of the Cut-off
Date, with respect to the original principal balances of the
Mortgage Loans in Pool 1998-19:
AGGREGATE % OF
BALANCES POOL BY
ORIGINAL # OF AS OF AGGREGATE
BALANCES LOANS CUT-OFF DATE BALANCE
-------- ----- ------------ ---------
$227,151 - 250,000 109 $26,682,479.33 7.0879%
$250,001 - 300,000 432 $118,788,971.11 31.5549%
$300,001 - 350,000 238 $76,983,519.22 20.4498%
$350,001 - 400,000 139 $52,206,287.24 13.8680%
$400,001 - 450,000 77 $32,652,564.02 8.6738%
$450,001 - 600,000 95 $47,910,066.81 12.7267%
$600,001 - 650,000 23 $14,647,862.03 3.8910%
$650,001 - 1,000,000+ 7 $6,580,163.30 1.7479%
----- --------------- ---------
Total 1,120 $376,451,913.06 100.0000%
The largest outstanding Scheduled Principal Balance of any
Mortgage Loan, as of the Cut-off Date, in Pool 1998-19 is
$1,443,750.00.
The smallest outstanding Scheduled Principal Balance of any
Mortgage Loan, as of the Cut-off Date, in Pool 1998-19 is
$226,923.34.
c) The following table sets forth information, as of the Cut-off
Date, with respect to the years of origination of the Mortgage
Loans in Pool 1998-19:
AGGREGATE % OF
BALANCES POOL BY
YEAR OF # OF AS OF AGGREGATE
ORIGINATION LOANS CUT-OFF DATE BALANCE
- ----------- ----- ------------ ---------
1997 2 $571,395.88 0.1518%
1998 1,118 $375,880,517.18 99.8482%
----- --------------- ---------
Total 1,120 $376,451,913.06 100.0000%
4
<PAGE>
d) The following table sets forth information, as of the Cut-off
Date, with respect to the loan-to-value ratios of the Mortgage
Loans at origination in Pool 1998-19:
LOAN- AGGREGATE % OF
TO-VALUE BALANCES POOL BY
RATIO AT # OF AS OF AGGREGATE
ORIGINATION LOANS CUT-OFF DATE BALANCE
----------- ----- ------------ ---------
00.000 - 50.00 40 $13,597,693.98 3.6121%
50.001 - 60.00 66 $25,217,287.84 6.6987%
60.001 - 70.00 154 $54,712,917.83 14.5338%
70.001 - 75.00 192 $67,890,022.36 18.0342%
75.001 - 80.00 541 $178,676,210.38 47.4632%
80.001 - 85.00 8 $2,222,697.97 0.5904%
85.001 - 90.00 70 $21,040,258.72 5.5891%
90.001 - 95.00 49 $13,094,823.98 3.4785%
----- --------------- ---------
Total 1,120 $376,451,913.06 100.0000%
e) The following table sets forth information, as of the Cut-off
Date, with respect to the type of Mortgaged Properties
securing the Mortgage Loans in Pool 1998-19:
AGGREGATE % OF
BALANCES POOL BY
TYPE OF # OF AS OF AGGREGATE
DWELLING LOANS CUT-OFF DATE BALANCE
- -------- ----- ------------ ---------
Single-family
detached 1,035 $347,035,130.44 92.1857%
Single-family
attached 31 $10,204,327.95 2.7107%
Condominium 37 $12,368,269.54 3.2855%
2 - 4 Family Units 11 $4,812,878.47 1.2785%
Co-op 6 $2,031,306.66 0.5396%
----- --------------- ---------
Total 1,120 $376,451,913.06 100.0000%
f) The following table sets forth information, as of the Cut-off
Date, with respect to the occupancy status of the Mortgaged
Properties securing the Mortgage Loans as represented by the
mortgagors at origination in Pool 1998-19:
AGGREGATE % OF
BALANCES POOL BY
# OF AS OF AGGREGATE
OCCUPANCY LOANS CUT-OFF DATE BALANCE
- --------- ----- ------------ ---------
Owner Occupied 1,102 $370,321,890.91 98.3716%
Vacation 17 $5,860,217.56 1.5567%
Investment 1 $269,804.59 0.0717%
----- --------------- ---------
Total 1,120 $376,451,913.06 100.0000%
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g) The following table sets forth information, as of the Cut-off
Date, with respect to the geographic distribution of the
Mortgaged Properties securing the Mortgage Loans in Pool
1998-19:
AGGREGATE % OF
BALANCES POOL BY
# OF AS OF AGGREGATE
STATE LOANS CUT-OFF DATE BALANCE
- ----- ----- ------------ ---------
Alabama 1 $425,333.35 0.1130%
Arizona 19 $6,607,410.66 1.7552%
Arkansas 2 $766,200.00 0.2035%
California 543 $185,209,563.19 49.1989%
Colorado 25 $8,515,606.12 2.2621%
Connecticut 23 $8,050,841.64 2.1386%
Delaware 1 $349,367.92 0.0928%
District Of Columbia 2 $627,684.45 0.1667%
Florida 25 $7,685,792.07 2.0416%
Georgia 22 $7,130,124.01 1.8940%
Hawaii 4 $1,505,500.17 0.3999%
Idaho 1 $379,405.33 0.1008%
Illinois 51 $16,844,173.67 4.4745%
Indiana 7 $2,451,851.16 0.6513%
Iowa 1 $252,000.00 0.0669%
Maine 2 $749,687.96 0.1991%
Maryland 35 $11,518,888.12 3.0599%
Massachusetts 71 $23,798,572.36 6.3218%
Michigan 16 $5,174,128.91 1.3744%
Minnesota 19 $5,590,330.45 1.4850%
Mississippi 1 $241,801.64 0.0642%
Missouri 1 $395,380.29 0.1050%
Nebraska 2 $697,007.53 0.1852%
Nevada 2 $869,848.40 0.2311%
New Hampshire 4 $1,163,684.99 0.3091%
New Jersey 37 $11,825,559.21 3.1413%
New Mexico 2 $707,778.95 0.1880%
New York 35 $12,913,843.95 3.4304%
North Carolina 11 $3,630,008.98 0.9643%
Ohio 6 $1,857,479.18 0.4934%
Oregon 18 $5,400,394.72 1.4346%
Pennsylvania 14 $4,299,603.11 1.1421%
Rhode Island 1 $270,000.00 0.0717%
South Carolina 6 $2,437,607.75 0.6475%
South Dakota 1 $350,000.00 0.0930%
Tennessee 10 $3,438,155.44 0.9133%
Texas 8 $2,720,180.94 0.7226%
Utah 5 $1,708,862.01 0.4539%
Vermont 1 $271,000.00 0.0720%
Virginia 35 $11,414,922.24 3.0322%
Washington 44 $14,385,540.59 3.8214%
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<PAGE>
Wisconsin 6 $1,820,791.60 0.4837%
----- --------------- ---------
Total 1,120 $376,451,913.06 100.0000%
h) The following table sets forth information, as of the Cut-off
Date, with respect to the maturity dates of the Mortgage Loans
in Pool 1998-19:
AGGREGATE % OF
BALANCES POOL BY
YEAR OF # OF AS OF AGGREGATE
MATURITY LOANS CUT-OFF DATE BALANCE
-------- ----- ------------ ---------
2018 6 $2,046,924.17 0.5437%
2023 7 $2,453,776.58 0.6518%
2027 2 $571,395.88 0.1518%
2028 1,105 $371,379,816.43 98.6527%
----- --------------- ---------
Total 1,120 $376,451,913.06 100.0000%
The weighted average scheduled remaining term to maturity of the
Mortgage Loans in Pool 1998-19 calculated as of the Cutoff Date
is 358 months.
i) The following table sets forth information, as of the Cut-off
Date, with respect to the purpose of the Mortgage Loans in
Pool 1998-19:
AGGREGATE % OF
BALANCES POOL BY
PURPOSE # OF AS OF AGGREGATE
OF LOAN LOANS CUT-OFF DATE BALANCE
- ------- ----- ------------ ---------
Purchase 507 $169,076,645.13 44.9132%
Rate Term/Refinance 436 $148,031,489.20 39.3228%
Cash-out Refinance 177 $59,343,778.73 15.7640%
----- --------------- ---------
Total 1,120 $376,451,913.06 100.0000%
7
<PAGE>
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS AND
EXHIBITS.
1.1 The Underwriting Agreement, dated as of April 24, 1995,
and the related Terms Agreement, dated as of October 22,
1998, for certain of the Series 1998-19 Certificates
between GE Capital Mortgage Services, Inc. and
PaineWebber Incorporated.
1.2 The Underwriting Agreement, dated as of October 23,
1995, and the related Terms Agreement, dated as of
October 22, 1998, for certain of the Series 1998-19
Certificates between GE Capital Mortgage Services, Inc.
and Salomon Smith Barney Inc.
4.1 The Pooling and Servicing Agreement for the Series
1998-19 Certificates, dated as of October 1, 1998,
between GE Capital Mortgage Services, Inc., as seller
and servicer, and State Street Bank and Trust Company,
as trustee.
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<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the
undersigned thereunto duly authorized.
GE Capital Mortgage Services, Inc.
By: /s/ Syed W. Ali
-------------------------------
Name: Syed W. Ali
Title: Vice President
Dated as of October 29, 1998
9
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the
undersigned thereunto duly authorized.
GE Capital Mortgage Services, Inc.
By:
-------------------------------
Name: Syed W. Ali
Title: Vice President
Dated as of October 29, 1998
10
<PAGE>
EXHIBIT INDEX
The exhibits are being filed herewith:
- ----------------------------------------------------------------
EXHIBIT NO. DESCRIPTION PAGE
- ----------------------------------------------------------------
1.1 The Underwriting Agreement, dated as
of April 24, 1995, and the related Terms
Agreement, dated as of October 22,
1998, for certain of the Series 1998-19
Certificates between GE Capital
Mortgage Services, Inc. and
PaineWebber Incorporated.
1.2 The Underwriting Agreement, dated as
of October 23, 1995, and the related
Terms Agreement, dated as of October
22, 1998, for certain of the Series 1998-
19 Certificates between GE Capital
Mortgage Services, Inc. and Salomon
Smith Barney Inc.
4.1 The Pooling and Servicing Agreement
for the Series 1998-19 Certificates, dated
as of October 1, 1998, between GE
Capital Mortgage Services, Inc., as seller
and servicer, and State Street Bank and
Trust Company, as trustee.
- -----------------------------------------------------------------
11
EXECUTION
GE CAPITAL MORTGAGE SERVICES, INC.
PASS-THROUGH CERTIFICATES
(Issuable in Series)
UNDERWRITING AGREEMENT
PaineWebber Incorporated New York, New York
1285 Avenue of the Americas April 24, 1995
New York, New York 10019
Ladies and Gentlemen:
GE Capital Mortgage Services, Inc., a corporation
organized and existing under the laws of the State of New Jersey
(the "Company"), may offer for sale to you (the "Underwriter")
from time to time its Pass-Through Certificates evidencing
interests in pools of mortgage loans (the "Certificates"). The
Certificates may be issued in various series, and within each
series, in one or more classes, in one or more offerings on terms
determined at the time of sale (each such series, a "Series" and
each such class, a "Class"). Each Series of the Certificates will
be issued under a separate Pooling and Servicing Agreement (each,
a "Pooling and Servicing Agreement") to be dated as of the
respective cut-off date (each, a "Cut-off Date") between the
Company, as seller and servicer, and State Street Bank and Trust
Company, as trustee (the "Trustee"). Capitalized terms used but
not defined herein shall have the meanings given to them in the
related Pooling and Servicing Agreement.
The Certificates issued under each Pooling and
Servicing Agreement will represent the entire beneficial
ownership interest in a trust fund (the "Trust Fund") established
by such Pooling and Servicing Agreement. The assets of each Trust
Fund will consist primarily of a pool of conventional, fixed
rate, first lien, fully amortizing, one- to four-family
residential mortgage loans (the "Mortgage Loans") having the
original terms to maturity specified in the related Terms
Agreement referred to hereinbelow. If so specified in the related
Terms Agreement, one or more elections may be made to treat the
assets of each Trust Fund as a real estate mortgage investment
conduit (each, a "REMIC") for federal income tax purposes.
Whenever the Company determines to make an offering of
Certificates (each, a "Certificate Offering") pursuant to this
<PAGE>
Agreement through you, it will enter into an agreement with you
(the "Terms Agreement") providing for the sale of specified
Classes of Offered Certificates (as defined below) to, and the
purchase and public offering thereof by, you. Each such
Certificate Offering which the Company elects to make pursuant to
this Agreement shall be governed by this Agreement, as
supplemented by the related Terms Agreement. Each Terms
Agreement, which shall be substantially in the form of Exhibit A
hereto, shall specify, among other things, the Classes of
Certificates to be purchased by the Underwriter (the "Offered
Certificates"), the principal balance or balances of the Offered
Certificates, each subject to any stated variance, and the price
or prices at which such Offered Certificates are to be purchased
by the Underwriter from the Company.
1. Representations and Warranties. (a) The Company
represents and warrants to and agrees with the Underwriter, as of
the date of the related Terms Agreement, that:
(i) The registration statement specified in
the related Terms Agreement, on Form S-3, including a
prospectus, has been filed with the Securities and
Exchange Commission (the "Commission") for the
registration under the Securities Act of 1933, as
amended (the "Act"), of pass-through certificates
issuable in series, which registration statement has
been declared effective by the Commission. Such
registration statement, as amended to the date of the
related Terms Agreement, including any documents
incorporated by reference therein pursuant to Item 12
of Form S-3 under the Act which were filed under the
Securities Exchange Act of 1934, as amended (the
"Exchange Act"), on or before the effective date of the
Registration Statement, is hereinafter called the
"Registration Statement," and such prospectus, as such
prospectus is supplemented by a prospectus supplement
relating to the Offered Certificates of the related
Series, each in the form first filed after the date of
the related Terms Agreement pursuant to Rule 424(b)
under the Act, including any documents incorporated by
reference therein pursuant to Item 12 of Form S-3 under
the Act which were filed under the Exchange Act on or
before the date of such Prospectus Supplement (other
than any such incorporated documents that relate to
Collateral Term Sheets (as defined herein)) (such
prospectus supplement, including such incorporated
documents (other than those that relate to Collateral
Term Sheets), in the form first filed after the date of
the related Terms Agreement pursuant to Rule 424(b) is
hereinafter called the "Prospectus Supplement"), is
hereinafter called the "Prospectus". Any reference
herein to the terms "amend," "amendment" or
2
<PAGE>
"supplement" with respect to the Registration
Statement, the Prospectus or the Prospectus Supplement
shall be deemed to refer to and include the filing of
any document under the Exchange Act after the effective
date of the Registration Statement or the issue date of
the Prospectus or Prospectus Supplement, as the case
may be, deemed to be incorporated therein by reference
pursuant to Item 12 of Form S-3 under the Act.
(ii) The related Registration Statement, at
the time it became effective, and the prospectus
contained therein, and any amendments thereof and
supplements thereto filed prior to the date of the
related Terms Agreement, conformed in all material
respects to the requirements of the Act and the rules
and regulations of the Commission thereunder; on the
date of the related Terms Agreement and on each Closing
Date (as defined in Section 3 below), the related
Registration Statement and the related Prospectus, and
any amendments thereof and supplements thereto, will
conform in all material respects to the requirements of
the Act and the rules and regulations of the Commission
thereunder; such Registration Statement, at the time it
became effective, did not contain any untrue statement
of a material fact or omit to state a material fact
required to be stated therein or necessary to make the
statements therein not misleading; such Prospectus, on
the date of any filing pursuant to Rule 424(b) and on
each Closing Date, will not include any untrue
statement of a material fact or omit to state a
material fact necessary to make the statements therein,
in the light of the circumstances under which they are
made, not misleading; and the Detailed Description
referred to in such Prospectus, on each Closing Date
and the date of any filing thereof under cover of Form
8-K, will not include any untrue statement of a
material fact or omit to state any information which
such Prospectus states will be included in such
Detailed Description; provided, however, that the
Company makes no representations or warranties as to
the information contained in or omitted from (A) such
Registration Statement or such Prospectus (or any
supplement thereto) in reliance upon and in conformity
with written information furnished to the Company by or
on behalf of the Underwriter specifically for use in
the preparation thereof or (B) any Current Report (as
defined in Section 5(b) below), or in any amendment
thereof or supplement thereto, incorporated by
reference in such Registration Statement or such
Prospectus (or any amendment thereof or supplement
thereto).
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<PAGE>
(iii) The Certificates of the related Series
will conform to the description thereof contained in
the related Prospectus; will each, if rated at the time
of issuance in one of the two highest rating categories
by a nationally recognized statistical rating
organization, be when issued a "mortgage related
security" as such term is defined in Section 3(a)(41)
of the Exchange Act, and will each on the related
Closing Date be duly and validly authorized, and, when
validly executed, countersigned, issued and delivered
in accordance with the related Pooling and Servicing
Agreement and sold to you as provided herein and in the
related Terms Agreement, will each be validly issued
and outstanding and entitled to the benefits of the
related Pooling and Servicing Agreement.
(iv) Neither the issuance nor sale of the
Certificates of the related Series nor the consummation
of any other of the transactions herein contemplated,
nor the fulfillment of the terms hereof or of the
related Terms Agreement, will conflict with any
statute, order or regulation applicable to the Company
of any court, regulatory body, administrative agency or
governmental body having jurisdiction over the Company
or with any organizational document of the Company or
any instrument or any agreement under which the Company
is bound or to which it is a party.
(v) This Agreement and the related
Terms Agreement have been duly authorized, executed and
delivered by the Company.
(vi) At or prior to the related Closing
Date, the Company will have entered into the related
Pooling and Servicing Agreement and, assuming the due
authorization, execution and delivery thereof by the
Trustee, such Pooling and Servicing Agreement (on such
Closing Date) will constitute the valid and binding
agreement of the Company enforceable in accordance with
its terms, subject as to enforceability, to bankruptcy,
insolvency, reorganization or other similar laws
affecting creditors' rights and to general principles
of equity (regardless of whether the enforceability of
such Pooling and Servicing Agreement is considered in a
proceeding in equity or at law).
2. Purchase and Sale. Subject to the execution of
the Terms Agreement for a particular Certificate Offering and
subject to the terms and conditions and in reliance upon the
representations and warranties set forth in this Agreement and
such Terms Agreement, the Company agrees to sell to the
4
<PAGE>
Underwriter, and the Underwriter agrees to purchase from the
Company, all, but not less than all, of the related Offered
Certificates at the purchase price therefor set forth in such
Terms Agreement (the "Purchase Price").
3. Delivery and Payment. Delivery of and payment for
the Offered Certificates of a Series shall be made at the offices
of Cleary, Gottlieb, Steen & Hamilton, New York, New York, at
10:00 A.M., New York City time, on the Closing Date specified in
the related Terms Agreement, which date and time may be postponed
by agreement between the Underwriter and the Company (such date
and time being herein called the "Closing Date"). Delivery of
such Offered Certificates shall be made to the Underwriter
against payment by the Underwriter of the Purchase Price thereof
to or upon the order of the Company by wire transfer in federal
or other immediately available funds or by check payable in
federal funds, as the Company shall specify no later than five
full business days prior to such Closing Date. Unless delivery is
made through the facilities of The Depository Trust Company, the
Offered Certificates shall be registered in such names and in
such authorized denominations as the Underwriter may request not
less than two full business days in advance of each Closing Date.
The Company agrees to notify the Underwriter at least
two business days before each Closing Date of the exact principal
balance evidenced by the Offered Certificates and to have such
Offered Certificates available for inspection, checking and
packaging in New York, New York, no later than 12:00 noon on the
business day prior to such Closing Date.
4. Offering by the Underwriter. It is understood that
the Underwriter proposes to offer the Offered Certificates of the
related Series for sale to the public as set forth in the related
Prospectus.
5. Agreements. The Company agrees with the
Underwriter that:
(a) The Company will cause the Prospectus as
supplemented by a Prospectus Supplement relating to the
Offered Certificates to be filed pursuant to Rule 424 under
the Act and will promptly advise the Underwriter when such
Prospectus as so supplemented has been so filed, and prior
to the termination of the Certificate Offering to which such
Prospectus relates also will promptly advise the Underwriter
(i) when any amendment to the related Registration Statement
specifically relating to such Offered Certificates shall
have become effective or any further supplement to such
Prospectus has been filed, (ii) of any request by the
Commission for any amendment of such Registration Statement
or Prospectus or for any additional information, (iii) of
the issuance by the Commission of any stop order suspending
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the effectiveness of such Registration Statement or the
institution or threatening of any proceeding for that
purpose and (iv) of the receipt by the Company of any
written notification with respect to the suspension of the
qualification of such Offered Certificates for sale in any
jurisdiction or the initiation or threatening of any
proceeding for such purpose. The Company will not file any
amendment of the related Registration Statement or
supplement to the related Prospectus (other than any
amendment or supplement specifically relating to one or more
Series of pass-through certificates other than the Series
that includes the related Offered Certificates) unless the
Company has furnished the Underwriter with a copy for its
review prior to filing. The Company will use its best
efforts to prevent the issuance of any such stop order and,
if issued, to obtain as soon as possible the withdrawal
thereof.
(b) The Company will cause any Computational
Materials and any Structural Term Sheets (each as defined in
Section 8 below) with respect to the Offered Certificates of
a Series that are delivered by the Underwriter to the
Company pursuant to Section 8 to be filed with the
Commission on a Current Report on Form 8-K (a "Current
Report") pursuant to Rule 13a-11 under the Exchange Act on
the business day immediately following the later of (i) the
day on which such Computational Materials and Structural
Term Sheets are delivered to counsel for the Company by the
Underwriter prior to 10:30 a.m. and (ii) the date on which
this Agreement is executed and delivered. The Company will
cause one Collateral Term Sheet (as defined in Section 9
below) with respect to the Offered Certificates of a Series
that is delivered by the Underwriter to the Company in
accordance with the provisions of Section 9 to be filed with
the Commission on a Current Report pursuant to Rule 13a-11
under the Exchange Act on the business day immediately
following the day on which such Collateral Term Sheet is
delivered to counsel for the Company by the Underwriter
prior to 10:30 a.m. In addition, if at any time prior to the
availability of the related Prospectus Supplement the
Underwriter has delivered to any prospective investor a
Collateral Term Sheet that reflects, in the reasonable
judgement of the Underwriter and the Company, a material
change in the characteristics of the Mortgage Loans for the
related Series from those on which a Collateral Term Sheet
with respect to the related Series previously filed with the
Commission was based, the Company will cause any such
Collateral Term Sheet that is delivered by the Underwriter
to the Company in accordance with the provisions of Section
9 to be filed with the Commission on a Current Report on the
business day immediately following the day on which such
Collateral Term Sheet is delivered to counsel for the
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Company by the Underwriter prior to 10:30 a.m. In each case,
the Company will promptly advise the Underwriter when such
Current Report has been so filed. Each such Current Report
shall be incorporated by reference in the related Prospectus
and the related Registration Statement. Notwithstanding the
five preceding sentences, the Company shall have no
obligation to file any materials provided by the Underwriter
pursuant to Sections 8 and 9 which, in the reasonable
determination of the Company after making reasonable efforts
to consult with the Underwriter, are not required to be
filed pursuant to the Kidder Letters or the PSA Letter (each
as defined in Section 8 below), or which contain erroneous
information or contain any untrue statement of a material
fact or, when read in conjunction with the Prospectus and
Prospectus Supplement, omit to state a material fact
required to be stated therein or necessary to make the
statements therein not misleading; it being understood,
however, that the Company shall have no obligation to review
or pass upon the accuracy or adequacy of, or to correct, any
Computational Materials, Structural Term Sheets or
Collateral Term Sheets provided by the Underwriter to the
Company pursuant to Section 8 or Section 9 hereof.
(c) If, at any time when a prospectus relating to
the Offered Certificates of a Series is required to be
delivered under the Act, any event occurs as a result of
which the related Prospectus as then amended or supplemented
would include any untrue statement of a material fact or
omit to state any material fact necessary to make the
statements therein in light of the circumstances under which
they were made not misleading, or if it shall be necessary
at any time to amend or supplement the related Prospectus to
comply with the Act or the rules thereunder, the Company
promptly will prepare and file with the Commission, subject
to paragraph (a) of this Section 5, an amendment or
supplement which will correct such statement or omission or
an amendment which will effect such compliance; provided,
however, that the Company will not be required to file any
such amendment or supplement with respect to any
Computational Materials, Structural Term Sheets or
Collateral Term Sheets incorporated by reference in the
Prospectus other than any amendments or supplements of such
Computational Materials or Structural Term Sheets that are
furnished to the Company by the Underwriter pursuant to
Section 8(e) hereof or any amendments or supplements of such
Collateral Term Sheets that are furnished to the Company by
the Underwriter pursuant to Section 9(d) hereof which the
Company determines to file in accordance therewith.
(d) The Company will furnish to the Underwriter
and counsel for the Underwriter, without charge, as many
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<PAGE>
signed copies of the related Registration Statement
(including exhibits thereto) and, so long as delivery of a
prospectus by the Underwriter or dealer may be required by
the Act, as many copies of the related Prospectus and any
supplements thereto (other than exhibits to the related
Current Report) as the Underwriter may reasonably request.
(e) The Company will furnish such information,
execute such instruments and take such actions as may be
reasonably requested by the Underwriter to qualify the
Offered Certificates of a Series for sale under the laws of
such jurisdictions as the Underwriter may designate, to
maintain such qualifications in effect so long as required
for the distribution of such Offered Certificates and to
determine the legality of such Offered Certificates for
purchase by institutional investors; provided, however, that
the Company shall not be required to qualify to do business
in any jurisdiction where it is not qualified on the date of
the related Terms Agreement or to take any action which
would subject it to general or unlimited service of process
in any jurisdiction in which it is not, on the date of the
related Terms Agreement, subject to such service of process.
(f) So long as the Offered Certificates of a
Series are outstanding, the Company will furnish to the
Underwriter copies of the annual independent public
accountants' servicing report furnished to the Trustee
pursuant to Section 3.13 of the related Pooling and
Servicing Agreement.
(g) Whether or not the transactions contemplated
hereby and by the related Terms Agreement shall be
consummated, the Company shall be responsible for the
payment of any costs and expenses for which details are
submitted, in connection with the performance of its
obligations under this Agreement and the related Terms
Agreement, including, without limitation, (a) the cost and
expenses of printing or otherwise reproducing the related
Registration Statement or Prospectus, this Agreement, the
related Terms Agreement, the related Pooling and Servicing
Agreement and the Offered Certificates, and (b) the cost of
delivering the related Offered Certificates to the office of
the Underwriter, insured to the satisfaction of the
Underwriter (it being understood that, except as provided in
this paragraph (f) and in Section 7 hereof, the Underwriter
will pay all its own costs and expenses, including the fees
of Brown & Wood, counsel for the Underwriter, transfer taxes
on resale of any Offered Certificates by it, advertising
expenses connected with any offers that it may make, the
fees of KPMG Peat Marwick with respect to its letters
furnished pursuant to Section 6(i) of the Agreement and any
letter furnished pursuant to the last sentence of Section
8
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6(h) hereof, the fees of any firm of public accountants
selected by the Underwriter with respect to their letter
furnished pursuant to Section 8(c) of the Agreement and any
other costs and expenses specified in the related Terms
Agreement as "Additional Expenses").
6. Conditions to the Obligations of the Underwriter.
The obligations of the Underwriter to purchase the Offered
Certificates of any Series shall be subject to the accuracy in
all material respects of the representations and warranties on
the part of the Company contained in this Agreement, as
supplemented by the related Terms Agreement, as of the respective
dates thereof and the related Closing Date, to the accuracy of
the statements of the Company made in any applicable officers'
certificates pursuant to the provisions hereof, to the
performance by the Company of its obligations under this
Agreement and such Terms Agreement and to the following
additional conditions applicable to the related Certificate
Offering:
(a) No stop order suspending the effectiveness of
the related Registration Statement shall have been issued
and no proceedings for that purpose shall have been
instituted or threatened.
(b) Cleary, Gottlieb, Steen & Hamilton, counsel
for the Company, shall have furnished to the Underwriter an
opinion, dated the related Closing Date, to the effect that:
(i) this Agreement and the related
Terms Agreement have been duly authorized, executed and
delivered by the Company;
(ii) the related Pooling and Servicing
Agreement has been duly authorized, executed and
delivered by the Company and is a legal, valid and
binding agreement of the Company enforceable against
the Company in accordance with its terms;
(iii) the issuance of the Certificates of the
related Series and sale of the related Offered
Certificates has been duly authorized by the Company
and the Certificates of such Series, when duly
countersigned by the Trustee in accordance with the
related Pooling and Servicing Agreement, will be
validly issued and outstanding and entitled to the
benefits of such Pooling and Servicing Agreement;
(iv) the related Pooling and Servicing
Agreement is not required to be qualified under the
Trust Indenture Act of 1939, as amended, and the trust
created thereunder is not required to be registered
9
<PAGE>
under the Investment Company Act of 1940, as amended;
(v) the related Registration Statement has
become effective under the Act, and, to the best of the
knowledge of such counsel, no stop order suspending the
effectiveness of such Registration Statement has been
issued and no proceedings for that purpose have been
instituted or are pending or contemplated by the
Commission under the Act; such Registration Statement
and the related Prospectus, and each amendment or
supplement thereto (except the financial statements and
schedules and other financial and statistical data
included therein and the documents incorporated by
reference therein) applicable to the related Offered
Certificates and the obligations of the Company
relating thereto, as of their respective effective or
issue dates, appeared on their face to be appropriately
responsive in all material respects to the requirements
of the Act and the rules and regulations thereunder;
and no information has come to the attention of such
counsel that causes it to believe that (A) such
Registration Statement (except any document
incorporated by reference therein), as of the date it
became effective, or such Registration Statement
(except as aforesaid, and except the financial
statements and schedules and statistical data included
therein and the documents incorporated by reference
therein) as of the date the most recent post-effective
amendment thereto, if any, became effective, contained
any untrue statement of a material fact or omitted to
state any material fact required to be stated therein
or necessary to make the statements therein not
misleading or (B) such Prospectus (except any document
incorporated by reference therein) or any amendment or
supplement thereto (except as aforesaid, and except the
financial statements and schedules and statistical data
included therein and the documents incorporated by
reference therein), as of their respective issue dates
or at the related Closing Date, contained or contains
any untrue statement of a material fact or omitted or
omits to state any material fact necessary in order to
make the statements therein, in light of the
circumstances under which they were made, not
misleading;
(vi) the statements set forth under the
heading "Description of the Certificates" in the
related Prospectus, insofar as such statements purport
to summarize certain provisions of the related Pooling
and Servicing Agreement and the related Offered
Certificates, provide a fair summary of such
provisions;
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<PAGE>
(vii) the statements in the related
Prospectus under the headings "Certain Legal Aspects of
the Mortgage Loans and Contracts -- The Mortgage
Loans", "Certain Federal Income Tax Consequences"
(insofar as they relate specifically to the purchase,
ownership and disposition of the related Offered
Certificates) and "ERISA Considerations" (insofar as
they relate specifically to the purchase, ownership and
disposition of such Offered Certificates), to the
extent that they constitute matters of law or legal
conclusions, provide a fair summary of such law or
conclusions;
(viii) assuming compliance with the provisions
of the related Pooling and Servicing Agreement, for
federal income tax purposes, (A) if any election is
made to treat the assets of the Trust Fund as a REMIC:
the related Trust Fund (and any specified subgrouping
therein) will qualify as a REMIC pursuant to Section
860D of the Internal Revenue Code of 1986, as amended
(the "Code"), each Class of Certificates of the related
Series, other than the related Residual Class or
Classes, will constitute a class of "regular interests"
in the related REMIC within the meaning of the Code,
and each Class of such Certificates specified in the
related Prospectus as a Class of Residual Certificates
will constitute the "residual interest" in the related
REMIC within the meaning of the Code; (B) if no such
REMIC election is made: the Trust Fund will be treated
as a "grantor trust"; and
(ix) assuming that some or all of the
Offered Certificates of the related Series shall be
rated at the time of issuance in one of the two highest
rating categories by a nationally recognized
statistical rating organization, each Offered
Certificate so rated will be at the time of issuance, a
"mortgage related security" as such term is defined in
Section 3(a)(41) of the Exchange Act.
Such opinion may express its reliance as to factual matters
on the representations and warranties made by, and on
certificates or other documents furnished by, officers of
the parties to this Agreement, the related Terms Agreement
or the related Pooling and Servicing Agreement. Such opinion
may assume the due authorization, execution and delivery of
the instruments and documents referred to therein by the
parties thereto other than the Company. Such opinion may be
qualified, insofar as it concerns the enforceability of the
documents referred to therein, to the extent that such
enforceability may be limited by bankruptcy, insolvency,
reorganization or other similar laws affecting the
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<PAGE>
enforcement of creditors' rights in general and by
general equity principles (regardless of whether such
enforcement is considered in a proceeding in equity or at
law). Such opinion may be further qualified as expressing no
opinion as to (x) the statements in the related Prospectus
under the heading "Certain Legal Aspects of the Mortgage
Loans and Contracts -- The Mortgage Loans" except insofar as
such statements relate to the laws of the State of New York
and the laws of the United States, and (y) the statements in
such Prospectus under the headings "ERISA Considerations"
and "Certain Federal Income Tax Consequences" except insofar
as such statements relate to the laws of the United States.
In addition, such opinion may be qualified as an opinion
only on the laws of the State of New York and the laws of
the United States.
(c) The General Counsel for the Company shall have
furnished to the Underwriter an opinion, dated the related
Closing Date, to the effect that:
(i) The Company has been duly incorporated
and is validly existing as a corporation in good
standing under the laws of the State of New Jersey,
with corporate power to own its properties, to conduct
its business as described in the related Prospectus and
to enter into and perform its obligations under this
Agreement, the related Terms Agreement, the related
Pooling and Servicing Agreement and the Certificates of
the related Series;
(ii) The Company has full power and
authority to sell and service the related Mortgage
Loans as contemplated herein and in the related Pooling
and Servicing Agreement;
(iii) No consent, approval, authorization or
order of any court or governmental agency or body is
required for the consummation by the Company of the
transactions contemplated herein or in the related
Pooling and Servicing Agreement, except such as may be
required under the blue sky laws of any jurisdiction
and such other approvals as have been obtained;
(iv) Neither the issuance of the
Certificates of the related Series nor delivery of the
related Offered Certificates, nor the consummation of
any other of the transactions contemplated in this
Agreement, the related Terms Agreement or the related
Pooling and Servicing Agreement, nor the fulfillment of
the terms of the related Certificates, the related
Pooling and Servicing Agreement, this Agreement or the
related Terms Agreement will conflict with or violate
12
<PAGE>
any term or provision of the articles of incorporation
or by-laws of the Company or any statute, order or
regulation applicable to the Company of any court,
regulatory body, administrative agency or governmental
body having jurisdiction over the Company and will not
conflict with, result in a breach or violation or the
acceleration of or constitute a default under the terms
of any indenture or other agreement or instrument known
to such counsel to which the Company is a party or by
which it is bound; and
(v) There are no actions, proceedings or
investigations pending or, to the best knowledge of
such counsel, threatened before any court,
administrative agency or other tribunal (i) asserting
the invalidity of this Agreement, the related Terms
Agreement, the related Pooling and Servicing Agreement
or the related Certificates, (ii) seeking to prevent
the issuance of the Certificates of the related Series
or the consummation by the Company of any of the
transactions contemplated by this Agreement, such Terms
Agreement or such Pooling and Servicing Agreement, or
(iii) which might materially and adversely affect the
performance by the Company of its obligations under, or
the validity or enforceability of, this Agreement, such
Terms Agreement, such Pooling and Servicing Agreement
or the related Certificates.
In rendering her opinion such counsel may rely as to matters
of fact, to the extent deemed proper and as stated therein,
on certificates of responsible officers of the Company or
public officials. In addition, such opinion may be qualified
as an opinion only on the laws of the State of New Jersey.
(d) The Underwriter shall have received from Brown
& Wood, counsel for the Underwriter, such opinion or
opinions, dated the related Closing Date, with respect to
the issuance and sale of the Certificates of the related
Series, the related Registration Statement, the related
Prospectus and such other related matters as the Underwriter
may reasonably require, and the Company shall have furnished
to such counsel such documents as the Underwriter may
reasonably request for the purpose of enabling them to pass
upon such matters.
(e) The Company shall have furnished to the
Underwriter a certificate of the Company, signed by the
President or any Vice President and the Senior Vice
President-Finance or the principal financial or accounting
officer of the Company, dated the related Closing Date, to
the effect that the signers of such certificate have
13
<PAGE>
carefully examined the related Registration Statement
(excluding any Current Reports and any other documents
incorporated by reference therein), the related Prospectus,
the Detailed Description referred to in such Prospectus
(excluding any related Current Report), this Agreement and
the related Terms Agreement and that:
(i) the representations and warranties of
the Company in this Agreement are true and correct in
all material respects on and as of the related Closing
Date with the same effect as if made on such Closing
Date, and the Company has complied with all the
agreements and satisfied all the conditions on its part
to be performed or satisfied at or prior to such
Closing Date;
(ii) no stop order suspending the
effectiveness of such Registration Statement has been
issued and no proceedings for that purpose have been
instituted or, to their knowledge, threatened; and
(iii) nothing has come to their attention
that would lead them to believe that such Registration
Statement (excluding any Current Report) contains any
untrue statement of a material fact or omits to state
any material fact required to be stated therein or
necessary to make the statements therein not
misleading, that the related Prospectus (excluding any
related Current Report) contains any untrue statement
of a material fact or omits to state a material fact
required to be stated therein or necessary to make the
statements therein, in the light of the circumstances
under which they were made, not misleading, or that the
Detailed Description referred to in such Prospectus
includes any untrue statement of a material fact or
omits to state any information which the Prospectus
states will be included in such Detailed Description.
(f) Peabody & Arnold, counsel for the Trustee,
shall have furnished to the Underwriter an opinion, dated
the related Closing Date, to the effect that:
(i) the Trustee has been duly incorporated
and is validly existing as a corporation in good
standing under the laws of the Commonwealth of
Massachusetts with corporate power to own its
properties and conduct its business as presently
conducted by it, to conduct business as a trustee and
to enter into and perform its obligations under the
related Pooling and Servicing Agreement;
(ii) the related Pooling and Servicing
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<PAGE>
Agreement has been duly authorized, executed and
delivered by the Trustee and constitutes the legal,
valid and binding agreement of the Trustee enforceable
against the Trustee in accordance with its terms,
subject to bankruptcy, insolvency, fraudulent
conveyance, reorganization or other similar laws
affecting the enforcement of creditors' rights
generally and to judicial discretion, and general
principles of equity (regardless of whether enforcement
is sought in a proceeding in equity or at law);
(iii) the Trustee has duly accepted its
appointment as trustee under the related Pooling and
Servicing Agreement;
(iv) no consent, approval, authorization or
order of any Massachusetts or federal court or
government agency or body is required on the part of
the Trustee for the consummation of the transactions
contemplated in the related Pooling and Servicing
Agreement, except such as may be required under any
federal or state securities law; and
(v) the performance on the part of the
Trustee of any of the transactions contemplated in the
related Pooling and Servicing Agreement does not
conflict with or result in a breach or violation of any
term or provision of, or constitute a default under,
the Articles of Organization, as amended, or By-Laws of
the Trustee, or any Massachusetts or federal statute or
regulation applicable to the Trustee, or to such
counsel's knowledge, any indenture or other agreement
or instrument to which the Trustee is a party or by
which it is bound, or, to such counsel's knowledge, any
order of any state or federal court, regulatory body,
administrative agency or governmental body having
jurisdiction over the Trustee.
In addition, such counsel shall furnish to the Underwriter
such opinions as to the treatment of the Trust Fund for
purposes of Massachusetts tax law as are reasonably
satisfactory to the Underwriter.
(g) KPMG Peat Marwick shall have furnished to the
Underwriter a letter, dated as of the date of the related
Terms Agreement, in form and substance satisfactory to the
Underwriter, stating in effect that they have performed
certain specified procedures as a result of which they have
determined that such information as the Underwriter may
reasonably request of an accounting, financial or
statistical nature (which is limited to accounting,
financial or statistical information derived from the
15
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general accounting records of the Company) set forth in the
related Prospectus Supplement under the caption "Delinquency
and Foreclosure Experience of the Company" agrees with the
accounting records of the Company, excluding any questions
of legal interpretation.
(h) KPMG Peat Marwick shall have furnished to the
Underwriter a letter, dated as of the related Closing Date,
in form and substance satisfactory to the Underwriter,
stating in effect that they have performed certain specified
procedures as a result of which they have determined that
such information as the Underwriter may reasonably request
of an accounting, financial or statistical nature (which is
limited to accounting, financial or statistical information
derived from the general accounting records of the Company
and which is obtained from an analysis of a sample of the
Mortgage Loans included in the related pool) set forth in
the related Prospectus Supplement under the caption
"Description of the Mortgage Pool and the Mortgaged
Properties" or "Description of the Mortgage Pools and the
Mortgaged Properties", as the case may be, and in the
Detailed Description relating to such Prospectus Supplement
is mutually consistent and agrees with the accounting
records of the Company and, where applicable, the related
Mortgage Loan files of the Company, excluding any questions
of legal interpretation. In addition, if applicable, such
accountants shall have furnished to the Underwriter a
letter, dated as of the related Closing Date, which shall
include a statement or statements to the effect that based
upon the assumptions and methodology agreed to by the
Company (and which is consistent with the manner in which
any final PAC Balances, TAC Balances, Scheduled Balances,
Maximum and Minimum Scheduled Balances or any other
scheduled balances are to be calculated as set forth in the
related Prospectus), all of which shall be described by
reference in such letter, such accountants shall have
verified the mathematical accuracy of any final PAC Balances
Table, TAC Balances Table, Scheduled Balances Table, Maximum
or Minimum Scheduled Balances Table or other scheduled
balances table attached as an exhibit to the related Pooling
and Servicing Agreement.
(i) KPMG Peat Marwick shall have furnished to the
Underwriter and the Company a letter or letters, dated as of
the date of the related Terms Agreement, in form and
substance satisfactory to the Underwriter and the Company,
including, without limitation, statements, if applicable, to
the effect that:
(i) based upon the assumptions and
methodology set forth in the related Prospectus, all of
which shall be described by reference in such letter,
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they recomputed the percentages of initial principal
balance outstanding as of each of the Distribution
Dates (as defined in such Prospectus) indicated and the
weighted average lives of each Class of Offered
Certificates at each of the indicated percentages of
the applicable Prepayment Assumption, and they compared
the recomputed percentages and weighted average lives
to the corresponding percentages and weighted average
lives set forth in the related tables and found them to
be in agreement;
(ii) based upon the assumptions and
methodology set forth in such Prospectus, all of which
shall be described by reference in such letter, they
have verified the mathematical accuracy of any
Scheduled Final Distribution Dates for the Offered
Certificates, PAC Balances, TAC Balances, Scheduled
Balances, Maximum and Minimum Scheduled Balances or any
other scheduled balances set forth in such Prospectus
for each indicated Distribution Date, and have verified
the mathematical accuracy of any initial Effective
Ranges of any PAC Certificates, Scheduled Certificates
or other scheduled Certificates set forth in such
Prospectus; and
(iii) based upon the assumptions and
methodology set forth in such Prospectus, all of which
shall be described by reference in such letter, they
have verified the mathematical accuracy of the pre-tax
yields to maturity and, if applicable, aggregate cash
flows of any Class of Certificates for which such
pre-tax yields and, if applicable, aggregate cash flows
are set forth in such Prospectus at the indicated
percentages of the Prepayment Assumption and, if
applicable, at the indicated values of COFI, LIBOR or
any other index, as applicable.
(j) The Offered Certificates of the related Series
shall have received the ratings specified in the related
Terms Agreement (the "Required Ratings").
(k) Prior to the related Closing Date, the Company
shall have furnished to the Underwriter such further
information, certificates and documents as the Underwriter
may reasonably request.
(l) If any Certificates of the related Series are
to be sold to any other underwriter and/or offered in
reliance upon an exemption from the registration
requirements of the Act, the sale at or prior to the related
Closing Date of such Certificates to the purchaser thereof
shall have occurred.
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(m) Subsequent to the date of the related Terms
Agreement, there shall not have been any change, or any
development involving a prospective change, in or affecting
the business or properties of the Company which the
Underwriter concludes in its judgment, after consultation
with the Company, materially impairs the investment quality
of the Offered Certificates of the related Series so as to
make it impractical or inadvisable to proceed with the
public offering or the delivery of such Offered Certificates
as contemplated by the related Prospectus.
If any of the conditions specified in this Section 6
shall not have been fulfilled in all material respects with
respect to the particular Offered Certificates of a Series when
and as provided in this Agreement and the related Terms
Agreement, or if any of the opinions and certificates mentioned
above or elsewhere in this Agreement and the related Terms
Agreement shall not be in all material respects reasonably
satisfactory in form and substance to the Underwriter and its
counsel, this Agreement (with respect to the related Offered
Certificates) and the related Terms Agreement and all obligations
of the Underwriter hereunder (with respect to the related Offered
Certificates) and thereunder may be canceled at, or at any time
prior to, the related Closing Date by the Underwriter. Notice of
such cancellation shall be given to the Company in writing, or by
telephone or telegraph confirmed in writing.
7. Indemnification and Contribution. (a) The Company
agrees to indemnify and hold harmless the Underwriter and each
person who controls the Underwriter within the meaning of the Act
or the Exchange Act against any and all losses, claims, damages
or liabilities, joint or several, to which they or any of them
may become subject under the Act, the Exchange Act, or other
Federal or state statutory law or regulation, at common law or
otherwise, insofar as such losses, claims, damages or liabilities
(or actions in respect thereof) arise out of or are based upon
any untrue statement or alleged untrue statement of a material
fact contained in the Registration Statement relating to the
Offered Certificates of the applicable Series as it became
effective or in any amendment or supplement thereof, or in such
Registration Statement or the related Prospectus, or in any
amendment thereof, or in the Detailed Description referred to in
such Prospectus or arise out of or are based upon the omission or
alleged omission (in the case of any Computational Materials and
ABS Term Sheets in respect of which the Company agrees to
indemnify the Underwriter, as set forth below, when such are read
in conjunction with the related Prospectus and Prospectus
Supplement) to state therein a material fact required to be
stated therein or necessary to make the statements therein not
misleading, and agrees to reimburse each such indemnified party
for any legal or other expenses reasonably incurred by them in
connection with investigating or defending any such loss, claim,
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<PAGE>
damage, liability or action; provided, however, that (i) the
Company will not be liable in any such case to the extent that
any such loss, claim, damage or liability arises out of or is
based upon any such untrue statement or alleged untrue statement
or omission or alleged omission made therein (A) in reliance upon
and in conformity with written information furnished to the
Company as herein stated by or on behalf of the Underwriter
specifically for use in connection with the preparation thereof
or (B) in any Current Report or any amendment or supplement
thereof, except to the extent that any untrue statement or
alleged untrue statement therein or omission therefrom results
(or is alleged to have resulted) directly from an error (a
"Mortgage Pool Error") in the information concerning the
characteristics of the Mortgage Loans furnished by the Company to
the Underwriter in writing or by electronic transmission that was
used in the preparation of either (x) any Computational Materials
or ABS Term Sheets (as defined in Section 9 below) (or amendments
or supplements thereof) included in such Current Report (or
amendment or supplement thereof) or (y) any written or electronic
materials furnished to prospective investors on which the
Computational Materials (or amendments or supplements) were
based, (ii) such indemnity with respect to any Corrected
Statement (as defined below) in such Prospectus (or supplement
thereto) shall not inure to the benefit of the Underwriter (or
any person controlling the Underwriter) from whom the person
asserting any loss, claim, damage or liability purchased the
Certificates of the related Series that are the subject thereof
if such person did not receive a copy of a supplement to such
Prospectus at or prior to the confirmation of the sale of such
Certificates and the untrue statement or omission of a material
fact contained in such Prospectus (or supplement thereto) was
corrected (a "Corrected Statement") in such other supplement and
such supplement was furnished by the Company to the Underwriter
prior to the delivery of such confirmation, and (iii) such
indemnity with respect to any Mortgage Pool Error shall not inure
to the benefit of the Underwriter (or any person controlling the
Underwriter) from whom the person asserting any loss, claim,
damage or liability received any Computational Materials or ABS
Term Sheets (or any written or electronic materials on which the
Computational Materials are based) that were prepared on the
basis of such Mortgage Pool Error, if, prior to the time of
confirmation of the sale of the applicable Certificates to such
person, the Company notified the Underwriter in writing of the
Mortgage Pool Error or provided in written or electronic form
information superseding or correcting such Mortgage Pool Error
(in any such case, a "Corrected Mortgage Pool Error"), and the
Underwriter failed to notify such person thereof or to deliver to
such person corrected Computational Materials (or underlying
written or electronic materials) or ABS Term Sheets. This
indemnity agreement will be in addition to any liability which
the Company may otherwise have.
19
<PAGE>
(b) The Underwriter agrees to indemnify and hold
harmless the Company, each of its directors, each of its officers
who signs the Registration Statement relating to the Offered
Certificates of the applicable Series, and each person who
controls the Company within the meaning of the Act or the
Exchange Act to the same extent as the foregoing indemnities from
the Company to the Underwriter, but only with reference to (A)
written information furnished to the Company by or on behalf of
the Underwriter specifically for use in the preparation of the
documents referred to in the foregoing indemnity with respect to
the related Series, or (B) any Computational Materials or ABS
Term Sheets (or amendments or supplements thereof) furnished to
the Company by the Underwriter pursuant to Section 8 and
incorporated by reference in such Registration Statement or the
related Prospectus or any amendment or supplement thereof (except
that no such indemnity shall be available for any losses, claims,
damages or liabilities, or actions in respect thereof, resulting
from any Mortgage Pool Error, other than a Corrected Mortgage
Pool Error). This indemnity agreement will be in addition to any
liability which the Underwriter may otherwise have. The Company
acknowledges that the statements set forth in the second sentence
of the ante-penultimate paragraph, the first sentence of the
penultimate paragraph, and in the last paragraph appearing on the
cover page of the related Prospectus Supplement as such
statements relate to such Offered Certificates and the second
sentence of the first paragraph under the heading "Plan of
Distribution" in such Prospectus Supplement as such statements
relate to such Offered Certificates constitute the only
information furnished in writing by or on behalf of the
Underwriter for inclusion in the related Prospectus (other than
any Computational Materials or ABS Term Sheets (or amendments or
supplements thereof) furnished to the Company by the
Underwriter), and the Underwriter confirms that such statements
are correct.
(c) Promptly after receipt by an indemnified party
under Section 7 of notice of the commencement of any action, such
indemnified party will, if a claim in respect thereof is to be
made against the indemnifying party under this Section 7, notify
the indemnifying party in writing of the commencement thereof;
but the omission so to notify the indemnifying party will not
relieve it from any liability which it may have to any
indemnified party otherwise than under this Section 7. In case
any such action is brought against any indemnified party, and it
notifies the indemnifying party of the commencement thereof, the
indemnifying party will be entitled to participate therein, and
to the extent that it may elect by written notice delivered to
the indemnified party promptly after receiving the aforesaid
notice from such indemnified party, to assume the defense
thereof, with counsel satisfactory to such indemnified party;
provided, however, that if the defendants in any such action
include both the indemnified party and the indemnifying party and
20
<PAGE>
the indemnified party shall have reasonably concluded that there
may be legal defenses available to it and/or other indemnified
parties which are different from or additional to those available
to the indemnifying party, the indemnified party or parties shall
have the right to select separate counsel to assert such legal
defenses and to otherwise participate in the defense of such
action on behalf of such indemnified party or parties. Upon
receipt of notice from the indemnifying party to such indemnified
party of its election so to assume the defense of such action and
approval by the indemnified party of counsel, the indemnifying
party will not be liable to such indemnified party under this
Section 7 for any legal or other expenses subsequently incurred
by such indemnified party in connection with the defense thereof
unless (i) the indemnified party shall have employed separate
counsel in connection with the assertion of legal defenses in
accordance with the proviso to the next preceding sentence (it
being understood, however, that the indemnifying party shall not
be liable for the expenses of more than one separate counsel
approved by the indemnified party in the case of subparagraph (a)
or (b), representing the indemnified parties under subparagraph
(a) or (b), who are parties to such action), (ii) the
indemnifying party shall not have employed counsel satisfactory
to the indemnified party to represent the indemnified party
within a reasonable time after notice of commencement of the
action or (iii) the indemnifying party has authorized the
employment of counsel for the indemnified party at the expense of
the indemnifying party; and except that, if clause (i) or (iii)
is applicable, such liability shall be only in respect of the
counsel referred to in such clause (i) or (iii).
(d) If the indemnification provided for in paragraph
(a) or (b) of this Section 7 is due in accordance with its terms
but is for any reason held by a court to be unavailable from the
Company or the Underwriter, on grounds of policy or otherwise, or
if the indemnified party failed to give notice under paragraph
(c) of this Section 7 in respect of a claim otherwise subject to
indemnification in accordance with paragraph (a) or (b) of this
Section 7, the Company and the Underwriter shall contribute to
the aggregate losses, claims, damages and liabilities (including
legal and other expenses reasonably incurred in connection with
investigating or defending same) to which the Company and the
Underwriter may be subject, as follows:
(i) in the case of any losses, claims, damages and
liabilities (or actions in respect thereof) which do not
arise out of or are not based upon any untrue statement or
omission of a material fact in any Computational Materials
or ABS Term Sheets (or any amendments or supplements
thereof), in such proportion so that the Underwriter is
responsible for that portion represented by the difference
between the proceeds to the Company in respect of the
Offered Certificates appearing on the cover page of the
21
<PAGE>
Prospectus Supplement for the related Series and the total
proceeds received by the Underwriter from the sale of such
Offered Certificates (the "Underwriting Discount"), and the
Company is responsible for the balance; provided, however,
that in no case shall the Underwriter be responsible under
this subparagraph (i) for any amount in excess of such
Underwriting Discount applicable to the Offered Certificates
purchased by the Underwriter pursuant to this Agreement and
the related Terms Agreement; and
(ii) in the case of any losses, claims, damages and
liabilities (or actions in respect thereof) which arise out
of or are based upon any untrue statement or omission of a
material fact in any Computational Materials or ABS Term
Sheets (or any amendments or supplements thereof) or in any
written or electronic materials on which the Computational
Materials are based, in such proportion as is appropriate to
reflect the relative fault of the Company on the one hand
and the Underwriter on the other in connection with the
statements or omissions which resulted in such losses,
claims, damages or liabilities (or actions in respect
thereof) as well as any other relevant equitable
considerations. The relative fault shall be determined by
reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission
or alleged omission to state a material fact in such
Computational Materials or ABS Term Sheets (or any
amendments or supplements thereof or such written or
electronic materials) results from information prepared by
the Company on the one hand or the Underwriter on the other
and the parties' relative intent, knowledge, access to
information and opportunity to correct or prevent such
statement or omission.
Notwithstanding anything to the contrary in this Section 7(d), no
person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Act) shall be entitled to contribution
from any person who was not guilty of such fraudulent
misrepresentation. For purposes of this Section 7, each person
who controls the Underwriter within the meaning of either the Act
or the Exchange Act shall have the same rights to contribution as
the Underwriter, and each person who controls the Company within
the meaning of either the Act or the Exchange Act, each officer
of the Company who shall have signed the Registration Statement
and each director of the Company shall have the same rights to
contribution as the Company, subject in each case to the
immediately preceding sentence of this paragraph (d).
8. Computational Materials and Structural Term
Sheets. (a) Not later than 10:30 a.m., New York time, on the
business day before the date on which the Current Report relating
to the Offered Certificates of a Series is required to be filed
22
<PAGE>
by the Company with the Commission pursuant to Section 5(b)
hereof, the Underwriter shall deliver to the Company five
complete copies of all materials provided by the Underwriter to
prospective investors in such Offered Certificates which
constitute (i) "Computational Materials" within the meaning of
the no-action letter dated May 20, 1994 issued by the Division of
Corporation Finance of the Commission to Kidder, Peabody
Acceptance Corporation I, Kidder, Peabody & Co. Incorporated, and
Kidder Structured Asset Corporation and the no-action letter
dated May 27, 1994 issued by the Division of Corporation Finance
of the Commission to the Public Securities Association (together,
the "Kidder Letters"), the filing of which material is a
condition of the relief granted in such letter (such materials
being the "Computational Materials"), and (ii) "Structural Term
Sheets" within the meaning of the no-action letter dated February
17, 1995 issued by the Division of Corporation Finance of the
Commission to the Public Securities Association (the "PSA
Letter"), the filing of which material is a condition of the
relief granted in such letter (such materials being the
"Structural Term Sheets"). Each delivery of Computational
Materials and Structural Term Sheets to the Company pursuant to
this paragraph (a) shall be effected by delivering four copies of
such materials to counsel for the Company on behalf of the
Company at the address specified in Section 3 hereof and one copy
of such materials to the Company.
(b) The Underwriter represents and warrants to and
agrees with the Company, as of the date of the related Terms
Agreement and as of the Closing Date, that:
(i) the Computational Materials furnished to the
Company pursuant to Section 8(a) constitute (either in
original, aggregated or consolidated form) all of the
materials furnished to prospective investors by the
Underwriter prior to the time of delivery thereof to
the Company that are required to be filed with the
Commission with respect to the related Offered
Certificates in accordance with the Kidder Letters, and
such Computational Materials comply with the
requirements of the Kidder Letters;
(ii) the Structural Term Sheets furnished to the
Company pursuant to Section 8(a) constitute all of the
materials furnished to prospective investors by the
Underwriter prior to the time of delivery thereof to
the Company that are required to be filed with the
Commission as "Structural Term Sheets" with respect to
the related Offered Certificates in accordance with the
PSA Letter, and such Structural Term Sheets comply with
the requirements of the PSA Letter;
(iii) on the date any such Computational Materials
23
<PAGE>
or Structural Term Sheets with respect to such Offered
Certificates (or any written or electronic materials
furnished to prospective investors on which the
Computational Materials are based) were last furnished
to each prospective investor and on the date of
delivery thereof to the Company pursuant to Section
8(a) and on the related Closing Date, such
Computational Materials (or such other materials) or
Structural Term Sheets did not and will not include any
untrue statement of a material fact or, when read in
conjunction with the related Prospectus and Prospectus
Supplement, omit to state a material fact required to
be stated therein or necessary to make the statements
therein not misleading;
(iv) the Underwriter has not represented to any
prospective investor that any Computational Materials
or Structural Term Sheets with respect to any Series
were prepared or disseminated on behalf of the Company,
and, except as otherwise disclosed by the Underwriter
to the Company in writing prior to the date hereof, all
Computational Materials and Structural Term Sheets
furnished to prospective investors (and all written and
electronic materials furnished to prospective investors
on which the Computational Materials are based)
included a disclaimer to the effect set forth in
Section 8(d); and
(v) at the time any Computational Materials (or any
written or electronic materials furnished to
prospective investors on which the Computational
Materials are based) with respect to such Offered
Certificates were furnished to a prospective investor
and on the date of the related Terms Agreement, the
Underwriter possessed, and on the date of delivery of
such materials to the Company pursuant to this Section
8 and on the related Closing Date, the Underwriter will
possess, the capability, knowledge, expertise,
resources and systems of internal control necessary to
ensure that such Computational Materials conform to the
representations and warranties of the Underwriter
contained in subparagraphs (i) and (iii) above of this
paragraph (b).
Notwithstanding the foregoing, the Underwriter makes no
representation or warranty as to whether any Computational
Materials or Structural Term Sheets (or any written or electronic
materials on which the Computational Materials are based)
included or will include any untrue statement resulting directly
from any Mortgage Pool Error (except any Corrected Mortgage Pool
Error, with respect to materials prepared after the receipt by
the Underwriter from the Company of notice of such Corrected
24
<PAGE>
Mortgage Pool Error or materials superseding or correcting such
Corrected Mortgage Pool Error).
(c) The Underwriter shall cause a firm of public
accountants to furnish to the Company a letter, dated as of the
date on which the Underwriter delivers any Computational
Materials (which term shall be deemed to include, for purposes of
this paragraph (c), calculated statistical information delivered
to prospective investors in the form of a Structural Term Sheet)
to the Company pursuant to Section 8(a), in form and substance
satisfactory to the Company, stating in effect that they have
verified the mathematical accuracy of any calculations performed
by the Underwriter and set forth in such Computational Materials.
(d) The Underwriter acknowledges and agrees that the
Company has not authorized and will not authorize the
distribution of any Computational Materials (or any written or
electronic materials on which the Computational Materials are
based) or Structural Term Sheets to any prospective investor, and
agrees that any Computational Materials or Structural Term Sheets
with respect to any Series of Certificates furnished to
prospective investors from and after the date hereof shall
include a disclaimer in form satisfactory to the Company to the
effect that such materials have been prepared and disseminated
solely by and on behalf of the Underwriter, and that the Company
has not reviewed or participated in the preparation or
dissemination of such materials and is not responsible for the
contents or accuracy thereof. The Underwriter agrees that it will
not represent to prospective investors that any Computational
Materials or Structural Term Sheets were prepared or disseminated
on behalf of the Company.
(e) If, at any time when a prospectus relating to the
Offered Certificates of a Series is required to be delivered
under the Act, it shall be necessary to amend or supplement the
related Prospectus as a result of an untrue statement of a
material fact contained in any Computational Materials or
Structural Term Sheets provided by the Underwriter pursuant to
this Section 8 or the omission to state therein a material fact
required, when considered in conjunction with the related
Prospectus and Prospectus Supplement, to be stated therein or
necessary to make the statements therein, when read in
conjunction with the related Prospectus and Prospectus
Supplement, not misleading, or if it shall be necessary to amend
or supplement any Current Report relating to any Computational
Materials or Structural Term Sheets to comply with the Act or the
rules thereunder, the Underwriter promptly will prepare and
furnish to the Company for filing with the Commission an
amendment or supplement which will correct such statement or
omission or an amendment which will effect such compliance. The
Underwriter represents and warrants to the Company, as of the
date of delivery of such amendment or supplement to the Company,
25
<PAGE>
that such amendment or supplement will not include any untrue
statement of a material fact or, when read in conjunction with
the related Prospectus and Prospectus Supplement, omit to state a
material fact required to be stated therein or necessary to make
the statements therein not misleading. The Company shall have no
obligation to file such amendment or supplement if the Company
determines that (i) such amendment or supplement contains any
untrue statement of a material fact or, when read in conjunction
with the related Prospectus and Prospectus Supplement, omits to
state a material fact required to be stated therein or necessary
to make the statements therein not misleading; it being
understood, however, that the Company shall have no obligation to
review or pass upon the accuracy or adequacy of, or to correct,
any such amendment or supplement provided by the Underwriter to
the Company pursuant to this paragraph (e) or (ii) such filing is
not required under the Act.
9. Collateral Term Sheets. (a) Prior to the delivery of
any "Collateral Term Sheet" within the meaning of the PSA Letter,
the filing of which material is a condition of the relief granted
in such letter (such material being the "Collateral Term
Sheets"), to a prospective investor in any Offered Certificates,
the Underwriter shall, in order to facilitate the timely filing
of such material with the Commission, notify the Company and its
counsel by telephone of its intention to deliver such materials
and the approximate date on which the first such delivery of such
materials is expected to occur. Not later than 10:30 a.m., New
York time, on the business day immediately following the date on
which any Collateral Term Sheet was first delivered to a
prospective investor in such Offered Certificates, the
Underwriter shall deliver to the Company five complete copies of
all materials provided by the Underwriter to prospective
investors in such Offered Certificates which constitute
"Collateral Term Sheets." Each delivery of a Collateral Term
Sheet to the Company pursuant to this paragraph (a) shall be
effected by delivering four copies of such materials to counsel
for the Company on behalf of the Company at the address specified
in Section 3 hereof and one copy of such materials to the
Company. (Collateral Term Sheets and Structural Term Sheets are,
together, referred to herein as "ABS Term Sheets.") At the time
of each such delivery, the Underwriter shall indicate in writing
that the materials being delivered constitute Collateral Term
Sheets, and, if there has been any prior such delivery with
respect to the related Series, shall indicate whether such
materials differ in any material respect from any Collateral Term
Sheets previously delivered to the Company with respect to such
Series pursuant to this Section 9(a) as a result of the
occurrence of a material change in the characteristics of the
related Mortgage Loans.
(b) The Underwriter represents and warrants to and
agrees with the Company as of the date of the related Terms
26
<PAGE>
Agreement and as of the Closing Date, that:
(i) The Collateral Term Sheets furnished to
the Company pursuant to Section 9(a) constitute all of the
materials furnished to prospective investors by the
Underwriter prior to time of delivery thereof to the Company
that are required to be filed with the Commission as
"Collateral Term Sheets" with respect to the related Offered
Certificates in accordance with the PSA Letter, and such
Collateral Term Sheets comply with the requirements of the
PSA Letter;
(ii) On the date any such Collateral Term
Sheets with respect to such Offered Certificates were last
furnished to each prospective investor and on the date of
delivery thereof to the Company pursuant to Section 9(a) and
on the related Closing Date, such Collateral Term Sheets did
not and will not include any untrue statement of a material
fact or, when read in conjunction with the Prospectus and
Prospectus Supplement, omit to state a material fact
required to be stated therein or necessary to make the
statements therein not misleading; and
(iii) the Underwriter has not represented to
any prospective investor that any Collateral Term Sheets
with respect to any Series were prepared or disseminated on
behalf of the Company, and, except as otherwise disclosed by
the Underwriter to the Company in writing prior to the date
hereof, all Collateral Term Sheets previously furnished to
prospective investors included a disclaimer to the effect
set forth in Section 8(d).
Notwithstanding the foregoing, the Underwriter makes no
representation or warranty as to whether any Collateral Term
Sheet included or will include any untrue statement or material
omission resulting directly from any Mortgage Pool Error (except
any Corrected Mortgage Pool Error, with respect to materials
prepared after the receipt by the Underwriter from the Company of
notice of such Corrected Mortgage Pool Error or materials
superseding or correcting such Corrected Mortgage Pool Error).
(c) The Underwriter acknowledges and agrees that any
Collateral Term Sheets with respect to any Series of Certificates
furnished to prospective investors from and after the date hereof
shall include a disclaimer in form satisfactory to the Company to
the effect set forth in Section 8(d) hereof, and to the effect
that the information contained in such materials supersedes the
information contained in any prior Collateral Term Sheet with
respect to such Series of Offered Certificates and will be
superseded by the description of the related Mortgage Loans in
the related Prospectus Supplement and in the Detailed Description
relating to such Prospectus Supplement to be filed under cover of
27
<PAGE>
Form 8-K. The Underwriter agrees that it will not represent to
prosective investors that any Collateral Term Sheets were
prepared or disseminated on behalf of the Company.
(d) If, at any time when a prospectus relating to the
Offered Certificates of a Series is required to be delivered
under the Act, it shall be necessary to amend or supplement the
related Prospectus as a result of an untrue statement of a
material fact contained in any Collateral Term Sheets provided by
the Underwriter pursuant to this Section 9 or the omission to
state therein a material fact required, when considered in
conjunction with the related Prospectus and Prospectus
Supplement, to be stated therein or necessary to make the
statements therein, when read in conjunction with the related
Prospectus and Prospectus Supplement, not misleading, or if it
shall be necessary to amend or supplement any Current Report
relating to any Collateral Term Sheets to comply with the Act or
the rules thereunder, the Underwriter promptly will prepare and
furnish to the Company for filing with the Commission an
amendment or supplement which will correct such statement or
omission or an amendment which will effect such compliance. The
Underwriter represents and warrants to the Company, as of the
date of delivery of such amendment or supplement to the Company,
that such amendment or supplement will not include any untrue
statement of a material fact or, when read in conjunction with
the related Prospectus and Prospectus Supplement, omit to state a
material fact required to be stated therein or necessary to make
the statements therein not misleading. The Company shall have no
obligation to file such amendment or supplement if the Company
determines that (i) such amendment or supplement contains any
untrue statement of a material fact or, when read in conjunction
with the related Prospectus and Prospectus Supplement, omits to
state a material fact required to be stated therein or necessary
to make the statements therein not misleading; it being
understood, however, that the Company shall have no obligation to
review or pass upon the accuracy or adequacy of, or to correct,
any such amendment or supplement provided by the Underwriter to
the Company pursuant to this paragraph (d) or (ii) such filing is
not required under the Act.
10. Termination. This Agreement (with respect to a
particular Certificate Offering) and the related Terms Agreement
shall be subject to termination in the absolute discretion of the
Underwriter, by notice given to the Company prior to delivery of
and payment for the related Offered Certificates, if prior to the
related Closing Date (i) trading in securities generally on the
New York Stock Exchange shall have been suspended or materially
limited, (ii) a general moratorium on commercial banking
activities in New York shall have been declared by either federal
or New York State authorities, or (iii) there shall have occurred
any outbreak or material escalation of hostilities or other
calamity or crisis the effect of which on the financial markets
28
<PAGE>
of the United States is such as to make it, in the reasonable
judgment of the Underwriter, impracticable to market such Offered
Certificates.
11. Representations and Indemnities to Survive
Delivery. The agreements, representations, warranties,
indemnities and other statements of the Company or its officers
and of the Underwriter set forth in or made pursuant to this
Agreement and the related Terms Agreement will remain in full
force and effect, regardless of any investigation made by or on
behalf of the Underwriter or the Company or any of the officers,
directors or controlling persons referred to in Section 7 hereof,
and will survive delivery of and payment for the related Offered
Certificates. The provisions of Section 7 hereof shall survive
the termination or cancellation of this Agreement and the related
Terms Agreement.
12. Successors. This Agreement and the related Terms
Agreement will inure to the benefit of and be binding upon the
parties hereto and thereto and their respective successors and
the officers, directors and controlling persons referred to in
Section 7 hereof, and their successors and assigns, and no other
person will have any right or obligation hereunder or thereunder.
No purchaser of any Offered Certificate from the Underwriter
shall be deemed a successor or assign by reason of such purchase.
13. APPLICABLE LAW. THIS AGREEMENT AND THE RELATED
TERMS AGREEMENT WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS
MADE AND TO BE PERFORMED THEREIN.
14. Miscellaneous. This Agreement, as supplemented by
the related Terms Agreement, supersedes all prior and
contemporaneous agreements and understandings relating to the
subject matter hereof. This Agreement and the related Terms
Agreement or any term of each may not be changed, waived,
discharged or terminated except by an affirmative written
agreement made by the party against whom enforcement of the
change, waiver, discharge or termination is sought. The headings
in this Agreement and the related Terms Agreement are for
purposes of reference only and shall not limit or otherwise
affect the meaning hereof or thereof.
15. Notices. All communications hereunder will be in
writing and effective only on receipt, and, if sent to the
Underwriter, will be delivered to it at the address first above
written; or if sent to the Company, will be delivered to GE
Capital Mortgage Services, Inc., Three Executive Campus, Post
Office Box 5260, Cherry Hill, New Jersey 08002, Attention:
General Counsel.
If the foregoing is in accordance with your
29
<PAGE>
understanding of our agreement, please sign and return to the
undersigned a counterpart hereof, whereupon this letter and your
acceptance shall represent a binding agreement between the
Company and the Underwriter.
Very truly yours,
GE CAPITAL MORTGAGE SERVICES, INC.
By: ____________________________
Name:
Title:
The foregoing Agreement is hereby confirmed and accepted as of
the date first above written.
PAINEWEBBER INCORPORATED
By: _____________________________
Name:
Title:
30
<PAGE>
EXHIBIT A
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES ____-__
TERMS AGREEMENT
(to Underwriting Agreement,
dated April 24, 1995
between the Company and the Underwriter)
GE Capital Mortgage Services, Inc. New York, New York
Three Executive Campus [Date]
Cherry Hill, NJ 08034
PaineWebber Incorporated (the "Underwriter") agrees,
subject to the terms and provisions herein and of the captioned
Underwriting Agreement (the "Underwriting Agreement"), to
purchase such Classes of Series ____-__ Certificates specified in
Section 2(a) hereof (the "Offered Certificates"). This letter
supplements and modifies the Underwriting Agreement solely as it
relates to the purchase and sale of the Offered Certificates
described below. The Series ____-__ Certificates are registered
with the Securities and Exchange Commission by means of an
effective Registration Statement (No. 33-___). Capitalized terms
used and not defined herein have the meanings given them in the
Underwriting Agreement.
Section 1. The Mortgage Pool: The Series ____-__
Certificates shall evidence the entire beneficial ownership
interest in a mortgage pool (the "Mortgage Pool") of
conventional, fixed rate, fully amortizing one- to four-family
residential mortgage loans (the "Mortgage Loans") having the
following characteristics as of ________ __, ____ (the "Cut-off
Date"):
(a) Aggregate Principal Amount of the Mortgage Pool: $[
] aggregate principal balance as of the Cutoff Date, subject
to [an upward or downward variance of up to [ ]%, the
precise aggregate principal balance to be determined by the
Company][a permitted variance such that the aggregate
Scheduled Principal Balance thereof will be not less than $[
] or greater than $[ ]].
(b) Original Terms to Maturity: The original term to
maturity of each Mortgage Loan included in the Mortgage Pool
shall be between ___ and ___ years.
A - 1
<PAGE>
Section 2. The Certificates: The Offered
Certificates shall be issued as follows:
(a) Classes: The Offered Certificates shall be issued
with the following Class designations, interest rates and
principal balances, subject in the aggregate to the variance
referred to in Section 1(a)[and, as to any particular Class,
to an upward or downward variance of up to [ ]%]:
Class Principal Interest Class Purchase
Balance Rate Price Percentage
(b) The Offered Certificates shall have such other
characteristics as described in the related Prospectus.
Section 3. Purchase Price: The Purchase Price for each
Class of the Offered Certificates shall be the Class Purchase
Price Percentage therefor (as set forth in Section 2(a) above) of
the initial Class Certificates Principal Balance thereof plus
accrued interest at the rate of [ ]% per annum from and including
the Cut-off Date up to, but not including, _________ __, ____
(the "Closing Date").
Section 4. Required Ratings: The Offered
Certificates shall have received Required Ratings of at least
[ ] from [ ].
Section 5. Tax Treatment: [One or more elections
will be made to treat the assets of the Trust Fund as a REMIC.]
[The Trust Fund will be treated as a "grantor trust" for federal
income tax purposes.]
[Section 6. Additional Expenses:]*
- --------------
* to be inserted if applicable.
A - 2
<PAGE>
If the foregoing is in accordance with your
understanding of our agreement, please sign and return to the
undersigned a counterpart hereof, whereupon this letter and your
acceptance shall represent a binding agreement between the
Underwriter and the Company.
Very truly yours,
PAINEWEBBER INCORPORATED
By: ____________________________
Name:
Title:
The foregoing Agreement is hereby confirmed and accepted as of
the date first above written.
GE CAPITAL MORTGAGE SERVICES, INC.
By: ____________________________
Name:
Title:
A - 3
Execution
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES 1998-19
TERMS AGREEMENT
---------------
(to Underwriting Agreement,
dated April 24, 1995,
between the Company and the Underwriter)
GE Capital Mortgage Services, Inc. New York, New York
Three Executive Campus October 22, 1998
Cherry Hill, NJ 08002
PaineWebber Incorporated (the "Underwriter") agrees,
subject to the terms and provisions herein and of the captioned
Underwriting Agreement (the "Underwriting Agreement"), to
purchase the Classes of Series 1998-19 Certificates specified in
Section 2(a) hereof (the "Offered Certificates"). This Terms
Agreement supplements and modifies the Underwriting Agreement
solely as it relates to the purchase and sale of the Offered
Certificates described below. The Series 1998-19 Certificates are
registered with the Securities and Exchange Commission by means
of an effective Registration Statement (No. 333-51151).
Capitalized terms used and not defined herein have the meanings
given them in the Underwriting Agreement.
Section 1. The Mortgage Pool: The Series 1998-19
Certificates shall evidence the entire beneficial ownership
interest in a mortgage pool (the "Mortgage Pool") of
conventional, fixed-rate, first-lien, fully-amortizing, one- to
four-family residential mortgage loans (the "Mortgage Loans")
having the following characteristics as of October 1, 1998 (the
"Cut-off Date"):
(a) Aggregate Principal Amount of the Mortgage Pool:
$376,451,913 aggregate principal balance as of the Cut-off Date,
subject to a permitted variance such that the aggregate original
Certificate Principal Balance will be not less than $356,250,000
or greater than $393,750,000.
(b) Original Terms to Maturity: The original term to
maturity of substantially all of the Mortgage Loans included in
the Mortgage Pool shall be between 20 and 30 years.
<PAGE>
Section 2. The Certificates: The Offered Certificates shall
be issued as follows:
(a) Classes: The Offered Certificates shall be issued with
the following Class designations, interest rates and principal
balances, subject in the aggregate to the variance referred to in
Section 1(a):
Class
Principal Interest Purchase Price
Class Balance Rate Percentage
- ----- ------- ---- ----------
Class A1 $127,825,000 6.50% 99.5469%
Class A2 150,750,000 6.50% 99.5469%
Class A3 14,906,000 6.50% 99.5469%
Class A4 1,000,000 6.50% 99.5469%
Class A5 1,000,000 6.50% 99.5469%
Class A6 6,733,433 7.00% 99.5469%
Class A7 1,000,000 6.50% 99.5469%
Class A8 5,000,000 6.50% 99.5469%
Class A9 2,000,000 6.50% 99.5469%
Class A10 10,520,990 (1) 99.5469%
Class A11 2,945,877 (1) 99.5469%
Class A12 37,645,000 6.50% 99.5469%
Class R 100 6.50% 99.5469%
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(1) Interest will accrue on the Class A10 and Class A11
Certificates at the respective rates described in the
Prospectus.
(b) The Offered Certificates shall have such other
characteristics as described in the related Prospectus.
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Section 3. Purchase Price: The Purchase Price for each
Class of the Offered Certificates shall be the Class Purchase
Price Percentage therefor (as set forth in Section 2(a) above) of
the initial Class Certificate Principal Balance thereof plus
accrued interest at the initial interest rate per annum from and
including the Cut-off Date up to, but not including, October 29,
1998 (the "Closing Date").
Section 4. Required Ratings: The Offered Certificates,
other than the Class A11 Certificates, shall have received
Required Ratings of at least "AAA" from Fitch IBCA, Inc.
("Fitch") and Standard & Poor's Rating Services, a division of
The McGraw-Hill Companies, Inc. ("S&P"), respectively. The Class
A11 Certificates shall have received Required Ratings of at least
"AAA" by Fitch and "AAAr" by S&P.
Section 5. Tax Treatment: One or more elections will be
made to treat the assets of the Trust Fund as a REMIC.
Section 6. Additional Expenses: The Underwriter will pay
all expenses (e.g., shipping, postage and courier costs)
associated with the delivery of the Prospectus to prospective
investors and investors, other than the costs of delivery to the
Underwriter's facilities, provided, that if courier services
(other than overnight delivery services utilized in the ordinary
course of business) are required to ensure that the Prospectus is
delivered to investors on the day immediately preceding the
Closing Date, the Company will pay such courier expenses.
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If the foregoing is in accordance with your
understanding of our agreement, please sign and return to the
undersigned a counterpart hereof, whereupon this letter and your
acceptance shall represent a binding agreement between the
Underwriter and the Company.
Very truly yours,
PAINEWEBBER INCORPORATED
By:______________________________________
Name:
Title:
The foregoing Agreement is
hereby confirmed and accepted
as of the date hereof.
GE CAPITAL MORTGAGE SERVICES, INC.
By:______________________________________
Name:
Title:
EXECUTION
GE CAPITAL MORTGAGE SERVICES, INC.
PASS-THROUGH CERTIFICATES
(Issuable in Series)
UNDERWRITING AGREEMENT
Salomon Brothers Inc New York, New York
Seven World Trade Center October 23, 1995
New York, New York 10048
Ladies and Gentlemen:
GE Capital Mortgage Services, Inc., a corporation
organized and existing under the laws of the State of New Jersey
(the "Company"), may offer for sale to you (the "Underwriter")
from time to time its Pass-Through Certificates evidencing
interests in pools of mortgage loans (the "Certificates"). The
Certificates may be issued in various series, and within each
series, in one or more classes, in one or more offerings on terms
determined at the time of sale (each such series, a "Series" and
each such class, a "Class"). Each Series of the Certificates will
be issued under a separate Pooling and Servicing Agreement (each,
a "Pooling and Servicing Agreement") to be dated as of the
respective cut-off date (each, a "Cut-off Date") between the
Company, as seller and servicer, and State Street Bank and Trust
Company, as trustee (the "Trustee"). Capitalized terms used but
not defined herein shall have the meanings given to them in the
related Pooling and Servicing Agreement.
The Certificates issued under each Pooling and
Servicing Agreement will represent the entire beneficial
ownership interest in a trust fund (the "Trust Fund") established
by such Pooling and Servicing Agreement. The assets of each Trust
Fund will consist primarily of a pool of conventional, fixed
rate, first lien, fully amortizing, one- to four-family
residential mortgage loans (the "Mortgage Loans") having the
original terms to maturity specified in the related Terms
Agreement referred to hereinbelow. If so specified in the related
Terms Agreement, one or more elections may be made to treat the
assets of each Trust Fund as a real estate mortgage investment
conduit (each, a "REMIC") for federal income tax purposes.
<PAGE>
Whenever the Company determines to make an offering of
Certificates (each, a "Certificate Offering") pursuant to this
Agreement through you, it will enter into an agreement with you
(the "Terms Agreement") providing for the sale of specified
Classes of Offered Certificates (as defined below) to, and the
purchase and public offering thereof by, you. Each such
Certificate Offering which the Company elects to make pursuant to
this Agreement shall be governed by this Agreement, as
supplemented by the related Terms Agreement. Each Terms
Agreement, which shall be substantially in the form of Exhibit A
hereto, shall specify, among other things, the Classes of
Certificates to be purchased by the Underwriter (the "Offered
Certificates"), the principal balance or balances of the Offered
Certificates, each subject to any stated variance, and the price
or prices at which such Offered Certificates are to be purchased
by the Underwriter from the Company.
1. Representations and Warranties. (a) The Company
represents and warrants to and agrees with the Underwriter, as of
the date of the related Terms Agreement, that:
(i) The registration statement specified
in the related Terms Agreement, on Form S-3, including
a prospectus, has been filed with the Securities and
Exchange Commission (the "Commission") for the
registration under the Securities Act of 1933, as
amended (the "Act"), of pass-through certificates
issuable in series, which registration statement has
been declared effective by the Commission. Such
registration statement, as amended to the date of the
related Terms Agreement, including any documents
incorporated by reference therein pursuant to Item 12
of Form S-3 under the Act which were filed under the
Securities Exchange Act of 1934, as amended (the
"Exchange Act"), on or before the effective date of
the Registration Statement, is hereinafter called the
"Registration Statement," and such prospectus, as such
prospectus is supplemented by a prospectus supplement
relating to the Offered Certificates of the related
Series, each in the form first filed after the date of
the related Terms Agreement pursuant to Rule 424(b)
under the Act, including any documents incorporated by
reference therein pursuant to Item 12 of Form S-3
under the Act which were filed under the Exchange Act
on or before the date of such Prospectus Supplement
(other than any such incorporated documents that
relate to Collateral Term Sheets (as defined
herein))(such prospectus supplement, including such
incorporated documents (other than those that relate
to Collateral Term Sheets), in the form first filed
after the date of the related Terms Agreement pursuant
to Rule 424(b) is hereinafter called the "Prospectus
Supplement"), is
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hereinafter called the "Prospectus". Any reference
herein to the terms "amend," "amendment" or
"supplement" with respect to the Registration
Statement, the Prospectus or the Prospectus Supplement
shall be deemed to refer to and include the filing of
any document under the Exchange Act after the
effective date of the Registration Statement or the
issue date of the Prospectus or Prospectus Supplement,
as the case may be, deemed to be incorporated therein
by reference pursuant to Item 12 of Form S-3 under the
Act.
(ii) The related Registration Statement,
at the time it became effective, and the prospectus
contained therein, and any amendments thereof and
supplements thereto filed prior to the date of the
related Terms Agreement, conformed in all material
respects to the requirements of the Act and the rules
and regulations of the Commission thereunder; on the
date of the related Terms Agreement and on each
Closing Date (as defined in Section 3 below), the
related Registration Statement and the related
Prospectus, and any amendments thereof and supplements
thereto, will conform in all material respects to the
requirements of the Act and the rules and regulations
of the Commission thereunder; such Registration
Statement, at the time it became effective, did not
contain any untrue statement of a material fact or
omit to state a material fact required to be stated
therein or necessary to make the statements therein
not misleading; such Prospectus, on the date of any
filing pursuant to Rule 424(b) and on each Closing
Date, will not include any untrue statement of a
material fact or omit to state a material fact
necessary to make the statements therein, in the light
of the circumstances under which they are made, not
misleading; and the Detailed Description referred to
in such Prospectus, on each Closing Date and the date
of any filing thereof under cover of Form 8-K, will
not include any untrue statement of a material fact or
omit to state any information which such Prospectus
states will be included in such Detailed Description;
provided, however, that the Company makes no
representations or warranties as to the information
contained in or omitted from (A) such Registration
Statement or such Prospectus (or any supplement
thereto) in reliance upon and in conformity with
written information furnished to the Company by or on
behalf of the Underwriter specifically for use in the
preparation thereof or (B) any Current Report (as
defined in Section 5(b) below), or in any amendment
thereof or supplement thereto, incorporated by
reference in such Registration Statement or such
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Prospectus (or any amendment thereof or supplement
thereto).
(iii) The Certificates of the related
Series will conform to the description thereof
contained in the related Prospectus; will each, if
rated at the time of issuance in one of the two
highest rating categories by a nationally recognized
statistical rating organization, be when issued a
"mortgage related security" as such term is defined in
Section 3(a)(41) of the Exchange Act, and will each on
the related Closing Date be duly and validly
authorized, and, when validly executed, countersigned,
issued and delivered in accordance with the related
Pooling and Servicing Agreement and sold to you as
provided herein and in the related Terms Agreement,
will each be validly issued and outstanding and
entitled to the benefits of the related Pooling and
Servicing Agreement.
(iv) Neither the issuance nor sale of the
Certificates of the related Series nor the
consummation of any other of the transactions herein
contemplated, nor the fulfillment of the terms hereof
or of the related Terms Agreement, will conflict with
any statute, order or regulation applicable to the
Company of any court, regulatory body, administrative
agency or governmental body having jurisdiction over
the Company or with any organizational document of the
Company or any instrument or any agreement under which
the Company is bound or to which it is a party.
(v) This Agreement and the related Terms
Agreement have been duly authorized, executed and
delivered by the Company.
(vi) At or prior to the related Closing
Date, the Company will have entered into the related
Pooling and Servicing Agreement and, assuming the due
authorization, execution and delivery thereof by the
Trustee, such Pooling and Servicing Agreement (on such
Closing Date) will constitute the valid and binding
agreement of the Company enforceable in accordance
with its terms, subject as to enforceability, to
bankruptcy, insolvency, reorganization or other
similar laws affecting creditors' rights and to
general principles of equity (regardless of whether
the enforceability of such Pooling and Servicing
Agreement is considered in a proceeding in equity or
at law).
2. Purchase and Sale. Subject to the execution of
the Terms Agreement for a particular Certificate Offering and
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subject to the terms and conditions and in reliance upon the
representations and warranties set forth in this Agreement and
such Terms Agreement, the Company agrees to sell to the
Underwriter, and the Underwriter agrees to purchase from the
Company, all, but not less than all, of the related Offered
Certificates at the purchase price therefor set forth in such
Terms Agreement (the "Purchase Price").
The parties hereto agree that settlement for all
securities sold pursuant to this Agreement and the applicable
Terms Agreement shall take place on the settlement date agreed
upon at the time of the related transaction and set forth as the
"Closing Date" in such Terms Agreement and not as set forth in
Rule 15c6-1(a) of the Exchange Act.
3. Delivery and Payment. Delivery of and payment for
the Offered Certificates of a Series shall be made at the offices
of Cleary, Gottlieb, Steen & Hamilton, New York, New York, at
10:00 A.M., New York City time, on the Closing Date specified in
the related Terms Agreement, which date and time may be postponed
by agreement between the Underwriter and the Company (such date
and time being herein called the "Closing Date"). Delivery of
such Offered Certificates shall be made to the Underwriter
against payment by the Underwriter of the Purchase Price thereof
to or upon the order of the Company by wire transfer in federal
or other immediately available funds or by check payable in
federal funds, as the Company shall specify no later than five
full business days prior to such Closing Date. Unless delivery is
made through the facilities of The Depository Trust Company, the
Offered Certificates shall be registered in such names and in
such authorized denominations as the Underwriter may request not
less than two full business days in advance of each Closing Date.
The Company agrees to notify the Underwriter at least
two business days before each Closing Date of the exact principal
balance evidenced by the Offered Certificates and to have such
Offered Certificates available for inspection, checking and
packaging in New York, New York, no later than 12:00 noon on the
business day prior to such Closing Date.
4. Offering by the Underwriter. It is understood that
the Underwriter proposes to offer the Offered Certificates of the
related Series for sale to the public as set forth in the related
Prospectus.
5. Agreements. The Company agrees with the
Underwriter that:
(a) The Company will cause the Prospectus as
supplemented by a Prospectus Supplement relating to the
Offered Certificates to be filed pursuant to Rule 424 under
the Act and will promptly advise the Underwriter when such
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Prospectus as so supplemented has been so filed, and prior
to the termination of the Certificate Offering to which
such Prospectus relates also will promptly advise the
Underwriter (i) when any amendment to the related
Registration Statement specifically relating to such
Offered Certificates shall have become effective or any
further supplement to such Prospectus has been filed, (ii)
of any request by the Commission for any amendment of such
Registration Statement or Prospectus or for any additional
information, (iii) of the issuance by the Commission of any
stop order suspending the effectiveness of such
Registration Statement or the institution or threatening of
any proceeding for that purpose and (iv) of the receipt by
the Company of any written notification with respect to the
suspension of the qualification of such Offered
Certificates for sale in any jurisdiction or the initiation
or threatening of any proceeding for such purpose. The
Company will not file any amendment of the related
Registration Statement or supplement to the related
Prospectus (other than any amendment or supplement
specifically relating to one or more Series of pass-through
certificates other than the Series that includes the
related Offered Certificates) unless the Company has
furnished the Underwriter with a copy for its review prior
to filing. The Company will use its best efforts to prevent
the issuance of any such stop order and, if issued, to
obtain as soon as possible the withdrawal thereof.
(b) The Company will cause any Computational
Materials and any Structural Term Sheets (each as defined
in Section 8 below) with respect to the Offered
Certificates of a Series that are delivered by the
Underwriter to the Company pursuant to Section 8 to be
filed with the Commission on a Current Report on Form 8-K
(a "Current Report") pursuant to Rule 13a-11 under the
Exchange Act on the business day immediately following the
later of (i) the day on which such Computational Materials
and Structural Term Sheets are delivered to counsel for the
Company by the Underwriter prior to 10:30 a.m. and (ii) the
date on which this Agreement is executed and delivered. The
Company will cause one Collateral Term Sheet (as defined in
Section 9 below) with respect to the Offered Certificates
of a Series that is delivered by the Underwriter to the
Company in accordance with the provisions of Section 9 to
be filed with the Commission on a Current Report pursuant
to Rule 13a-11 under the Exchange Act on the business day
immediately following the day on which such Collateral Term
Sheet is delivered to counsel for the Company by the
Underwriter prior to 10:30 a.m. In addition, if at any time
prior to the availability of the related Prospectus
Supplement the Underwriter has delivered to any prospective
investor a Collateral Term Sheet that reflects, in the
reasonable
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judgment of the Underwriter and the Company, a material
change in the characteristics of the Mortgage Loans for the
related Series from those on which a Collateral Term Sheet
with respect to the related Series previously filed with
the Commission was based, the Company will cause any such
Collateral Term Sheet that is delivered by the Underwriter
to the Company in accordance with the provisions of Section
9 to be filed with the Commission on a Current Report on
the business day immediately following the day on which
such Collateral Term Sheet is delivered to counsel for the
Company by the Underwriter prior to 10:30 a.m. In each
case, the Company will promptly advise the Underwriter when
such Current Report has been so filed. Each such Current
Report shall be incorporated by reference in the related
Prospectus and the related Registration Statement.
Notwithstanding the five preceding sentences, the Company
shall have no obligation to file any materials provided by
the Underwriter pursuant to Sections 8 and 9 which, in the
reasonable determination of the Company after making
reasonable efforts to consult with the Underwriter, are not
required to be filed pursuant to the Kidder Letters or the
PSA Letter (each as defined in Section 8 below), or which
contain erroneous information or contain any untrue
statement of a material fact or, when read in conjunction
with the Prospectus and Prospectus Supplement, omit to
state a material fact required to be stated therein or
necessary to make the statements therein not misleading; it
being understood, however, that the Company shall have no
obligation to review or pass upon the accuracy or adequacy
of, or to correct, any Computational Materials, Structural
Term Sheets or Collateral Term Sheets provided by the
Underwriter to the Company pursuant to Section 8 or Section
9 hereof.
(c) If, at any time when a prospectus relating to
the Offered Certificates of a Series is required to be
delivered under the Act, any event occurs as a result of
which the related Prospectus as then amended or
supplemented would include any untrue statement of a
material fact or omit to state any material fact necessary
to make the statements therein in light of the
circumstances under which they were made not misleading, or
if it shall be necessary at any time to amend or supplement
the related Prospectus to comply with the Act or the rules
thereunder, the Company promptly will prepare and file with
the Commission, subject to paragraph (a) of this Section 5,
an amendment or supplement which will correct such
statement or omission or an amendment which will effect
such compliance; provided, however, that the Company will
not be required to file any such amendment or supplement
with respect to any Computational Materials, Structural
Term Sheets or Collateral Term Sheets incorporated by
reference in the
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Prospectus other than any amendments or supplements of such
Computational Materials or Structural Term Sheets that are
furnished to the Company by the Underwriter pursuant to
Section 8(e) hereof or any amendments or supplements of
such Collateral Term Sheets that are furnished to the
Company by the Underwriter pursuant to Section 9(d) hereof
which the Company determines to file in accordance
therewith.
(d) The Company will furnish to the Underwriter
and counsel for the Underwriter, without charge, as many
signed copies of the related Registration Statement
(including exhibits thereto) and, so long as delivery of a
prospectus by the Underwriter or dealer may be required by
the Act, as many copies of the related Prospectus and any
supplements thereto (other than exhibits to the related
Current Report) as the Underwriter may reasonably request.
(e) The Company will furnish such information,
execute such instruments and take such actions as may be
reasonably requested by the Underwriter to qualify the
Offered Certificates of a Series for sale under the laws of
such jurisdictions as the Underwriter may designate, to
maintain such qualifications in effect so long as required
for the distribution of such Offered Certificates and to
determine the legality of such Offered Certificates for
purchase by institutional investors; provided, however,
that the Company shall not be required to qualify to do
business in any jurisdiction where it is not qualified on
the date of the related Terms Agreement or to take any
action which would subject it to general or unlimited
service of process in any jurisdiction in which it is not,
on the date of the related Terms Agreement, subject to such
service of process.
(f) So long as the Offered Certificates of a
Series are outstanding, the Company will furnish to the
Underwriter copies of the annual independent public
accountants' servicing report furnished to the Trustee
pursuant to Section 3.13 of the related Pooling and
Servicing Agreement.
(g) Whether or not the transactions contemplated
hereby and by the related Terms Agreement shall be
consummated, the Company shall be responsible for the
payment of any costs and expenses for which details are
submitted, in connection with the performance of its
obligations under this Agreement and the related Terms
Agreement, including, without limitation, (a) the cost and
expenses of printing or otherwise reproducing the related
Registration Statement or Prospectus, this Agreement, the
related Terms Agreement, the related Pooling and Servicing
Agreement and the Offered Certificates, and (b) the cost of
delivering the related Offered Certificates to the office
of
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the Underwriter, insured to the satisfaction of the
Underwriter (it being understood that, except as provided
in this paragraph (f) and in Section 7 hereof, the
Underwriter will pay all its own costs and expenses,
including the fees of Brown & Wood, counsel for the
Underwriter, transfer taxes on resale of any Offered
Certificates by it, advertising expenses connected with any
offers that it may make, the fees of KPMG Peat Marwick with
respect to its letters furnished pursuant to Section 6(i)
of the Agreement and any letter furnished pursuant to the
last sentence of Section 6(h) hereof, the fees of any firm
of public accountants selected by the Underwriter with
respect to their letter furnished pursuant to Section 8(c)
of the Agreement and any other costs and expenses specified
in the related Terms Agreement as "Additional Expenses").
6. Conditions to the Obligations of the Underwriter.
The obligations of the Underwriter to purchase the Offered
Certificates of any Series shall be subject to the accuracy in
all material respects of the representations and warranties on
the part of the Company contained in this Agreement, as
supplemented by the related Terms Agreement, as of the respective
dates thereof and the related Closing Date, to the accuracy of
the statements of the Company made in any applicable officers'
certificates pursuant to the provisions hereof, to the
performance by the Company of its obligations under this
Agreement and such Terms Agreement and to the following
additional conditions applicable to the related Certificate
Offering:
(a) No stop order suspending the effectiveness of
the related Registration Statement shall have been issued
and no proceedings for that purpose shall have been
instituted or threatened.
(b) Cleary, Gottlieb, Steen & Hamilton, counsel
for the Company, shall have furnished to the Underwriter an
opinion, dated the related Closing Date, to the effect
that:
(i) this Agreement and the related Terms
Agreement have been duly executed and delivered by the
Company under the law of the State of New York;
(ii) the related Pooling and Servicing
Agreement has been duly executed and delivered by the
Company under the law of the State of New York and is
a legal, valid and binding agreement of the Company
enforceable against the Company in accordance with its
terms;
(iii) the Offered Certificates, when duly
executed and countersigned by the Trustee in accordance
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with the related Pooling and Servicing Agreement, will
be validly issued and outstanding and entitled to the
benefits of such Pooling and Servicing Agreement;
(iv) the related Pooling and Servicing
Agreement is not required to be qualified under the
Trust Indenture Act of 1939, as amended, and the trust
created thereunder is not required to be registered
under the Investment Company Act of 1940, as amended;
(v) such counsel confirms that (based
solely upon telephone confirmation from a
representative of the Commission) the related
Registration Statement is effective under the Act and,
to the best of such counsel's knowledge, no stop order
with respect thereto has been issued, and no
proceeding for that purpose has been instituted or
threatened by the Commission; such Registration
Statement (except the financial statements and
schedules and other financial and statistical data
included therein and the documents incorporated by
reference therein, as to which such counsel need
express no view), at the time it became effective and
the related Prospectus (except the financial
statements and schedules and the other financial and
statistical data included therein, the documents
incorporated by reference therein and the information
included in the second sentence of the antepenultimate
paragraph, the first sentence of the penultimate
paragraph, and the last paragraph of the cover page of
such Prospectus Supplement and in the second and
fourth sentences of the first paragraph under the
heading "Plan of Distribution" therein, as to which
such counsel need express no view), as of the date of
the Prospectus Supplement appeared on their face to be
appropriately responsive in all material respects to
the requirements of the Act and the rules and
regulations thereunder; and no information has come to
the attention of such counsel that causes it to
believe that (A) such Registration Statement (except
the financial statements and schedules and the other
financial and statistical data included therein and
the documents incorporated by reference therein, as to
which such counsel need express no view) at the time
it became effective, contained an untrue statement of
a material fact or omitted to state a material fact
required to be stated therein or necessary to make the
statements therein not misleading or (B) such
Prospectus or any amendment or supplement thereto
(except the financial statements and schedules and the
other financial and statistical data included therein,
the documents incorporated by reference therein and
the information included in the second sentence of the
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antepenultimate paragraph, the first sentence of the
penultimate paragraph, and the last paragraph of the
cover page of such Prospectus Supplement and in the
second and fourth sentences of the first paragraph
under the heading "Plan of Distribution" therein, as
to which such counsel need express no view), as of the
date of the Prospectus Supplement, or at the related
Closing Date, contained or contains an untrue
statement of a material fact or omitted or omits to
state a material fact necessary in order to make the
statements therein, in the light of the circumstances
under which they were made, not misleading;
(vi) the statements set forth under the
heading "Description of the Certificates" in the
related Prospectus, insofar as such statements purport
to summarize certain provisions of the related Pooling
and Servicing Agreement and the related Offered
Certificates, provide a fair summary of such
provisions;
(vii) the statements set forth in in the
related Prospectus under the headings "Certain Legal
Aspects of the Mortgage Loans and Contracts -- The
Mortgage Loans", "Certain Federal Income Tax
Consequences" (insofar as they relate specifically to
the purchase, ownership and disposition of the related
Offered Certificates) and "ERISA Considerations"
(insofar as they relate specifically to the purchase,
ownership and disposition of such Offered
Certificates), to the extent that they constitute
matters of law or legal conclusions, provide a fair
summary of such law or conclusions;
(viii) assuming compliance with all
provisions of the related Pooling and Servicing
Agreement, for federal income tax purposes, (A) if any
election is made to treat the assets of the Trust Fund
as a REMIC: the related Trust Fund (and any specified
subgrouping therein) will qualify as a REMIC pursuant
to Section 860D of the Internal Revenue Code of 1986,
as amended (the "Code"), each Class of Certificates of
the related Series, other than the related Residual
Class or Classes, will constitute a class of "regular
interests" in the related REMIC within the meaning of
the Code, and each Class of such Certificates
specified in the related Prospectus as a Class of
Residual Certificates will constitute the "residual
interest" in the related REMIC within the meaning of
the Code; (B) if no such REMIC election is made: the
Trust Fund will be treated as a "grantor trust"; and
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<PAGE>
(ix) assuming that some or all of the
Offered Certificates of the related Series shall be
rated at the time of issuance in one of the two
highest rating categories by a nationally recognized
statistical rating organization, each Offered
Certificate so rated will be at the time of issuance,
a "mortgage related security" as such term is defined
in Section 3(a)(41) of the Exchange Act.
Such opinion may express its reliance as to factual matters
on the representations and warranties made by, and on
certificates or other documents furnished by, officers of
the parties to this Agreement, the related Terms Agreement
or the related Pooling and Servicing Agreement. Such
opinion may assume the due authorization, execution and
delivery of the instruments and documents referred to
therein by the parties thereto other than the Company. Such
opinion may be qualified, insofar as it concerns the
enforceability of the documents referred to therein, to the
extent that such enforceability may be limited by
bankruptcy, insolvency, reorganization or other similar
laws affecting the enforcement of creditors' rights in
general and by general equity principles (regardless of
whether such enforcement is considered in a proceeding in
equity or at law). Such opinion may be further qualified as
expressing no opinion as to (x) the statements in the
related Prospectus under the heading "Certain Legal Aspects
of the Mortgage Loans and Contracts -- The Mortgage Loans"
except insofar as such statements relate to the laws of the
State of New York and the laws of the United States, and
(y) the statements in such Prospectus under the headings
"ERISA Considerations" and "Certain Federal Income Tax
Consequences" except insofar as such statements relate to
the laws of the United States. In addition, such opinion
may be qualified as an opinion only on the law of the State
of New York and the federal law of the United States of
America.
(c) The General Counsel for the Company shall
have furnished to the Underwriter an opinion, dated the
related Closing Date, to the effect that:
(i) The Company has been duly
incorporated and is validly existing as a corporation
in good standing under the laws of the State of New
Jersey, with corporate power to own its properties, to
conduct its business as described in the related
Prospectus and to enter into and perform its
obligations under this Agreement, the related Terms
Agreement, the related Pooling and Servicing Agreement
and the Certificates of the related Series;
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<PAGE>
(ii) The Company has full power and
authority to sell and service the related Mortgage
Loans as contemplated herein and in the related
Pooling and Servicing Agreement;
(iii) No consent, approval, authorization
or order of any court or governmental agency or body
is required for the consummation by the Company of the
transactions contemplated herein or in the related
Pooling and Servicing Agreement, except such as may be
required under the blue sky laws of any jurisdiction
and such other approvals as have been obtained;
(iv) Neither the issuance of the
Certificates of the related Series nor delivery of the
related Offered Certificates, nor the consummation of
any other of the transactions contemplated in this
Agreement, the related Terms Agreement or the related
Pooling and Servicing Agreement, nor the fulfillment
of the terms of the related Certificates, the related
Pooling and Servicing Agreement, this Agreement or the
related Terms Agreement will conflict with or violate
any term or provision of the articles of incorporation
or by-laws of the Company or any statute, order or
regulation applicable to the Company of any court,
regulatory body, administrative agency or governmental
body having jurisdiction over the Company and will not
conflict with, result in a breach or violation or the
acceleration of or constitute a default under the
terms of any indenture or other agreement or
instrument known to such counsel to which the Company
is a party or by which it is bound; and
(v) There are no actions, proceedings or
investigations pending or, to the best knowledge of
such counsel, threatened before any court,
administrative agency or other tribunal (i) asserting
the invalidity of this Agreement, the related Terms
Agreement, the related Pooling and Servicing Agreement
or the related Certificates, (ii) seeking to prevent
the issuance of the Certificates of the related Series
or the consummation by the Company of any of the
transactions contemplated by this Agreement, such
Terms Agreement or such Pooling and Servicing
Agreement, or (iii) which might materially and
adversely affect the performance by the Company of its
obligations under, or the validity or enforceability
of, this Agreement, such Terms Agreement, such Pooling
and Servicing Agreement or the related Certificates.
In rendering her opinion such counsel may rely as to
matters of fact, to the extent deemed proper and as stated
therein,
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<PAGE>
on certificates of responsible officers of the Company or
public officials. In addition, such opinion may be
qualified as an opinion only on the laws of the State of
New Jersey.
(d) The Underwriter shall have received from
Brown & Wood, counsel for the Underwriter, such opinion or
opinions, dated the related Closing Date, with respect to
the issuance and sale of the Certificates of the related
Series, the related Registration Statement, the related
Prospectus and such other related matters as the
Underwriter may reasonably require, and the Company shall
have furnished to such counsel such documents as the
Underwriter may reasonably request for the purpose of
enabling them to pass upon such matters.
(e) The Company shall have furnished to the
Underwriter a certificate of the Company, signed by the
President or any Vice President and the Senior Vice
President-Finance or the principal financial or accounting
officer of the Company, dated the related Closing Date, to
the effect that the signers of such certificate have
carefully examined the related Registration Statement
(excluding any Current Reports and any other documents
incorporated by reference therein), the related Prospectus,
the Detailed Description referred to in such Prospectus
(excluding any related Current Report), this Agreement and
the related Terms Agreement and that:
(i) the representations and warranties of
the Company in this Agreement are true and correct in
all material respects on and as of the related Closing
Date with the same effect as if made on such Closing
Date, and the Company has complied with all the
agreements and satisfied all the conditions on its
part to be performed or satisfied at or prior to such
Closing Date;
(ii) no stop order suspending the
effectiveness of such Registration Statement has been
issued and no proceedings for that purpose have been
instituted or, to their knowledge, threatened; and
(iii) nothing has come to their attention
that would lead them to believe that such Registration
Statement (excluding any Current Report) contains any
untrue statement of a material fact or omits to state
any material fact required to be stated therein or
necessary to make the statements therein not
misleading, that the related Prospectus (excluding any
related Current Report) contains any untrue statement
of a material fact or omits to state a material fact
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<PAGE>
required to be stated therein or necessary to make the
statements therein, in the light of the circumstances
under which they were made, not misleading, or that
the Detailed Description referred to in such
Prospectus includes any untrue statement of a material
fact or omits to state any information which the
Prospectus states will be included in such Detailed
Description.
(f) Peabody & Arnold, counsel for the Trustee,
shall have furnished to the Underwriter an opinion, dated
the related Closing Date, to the effect that:
(i) the Trustee has been duly
incorporated and is validly existing as a corporation
in good standing under the laws of the Commonwealth of
Massachusetts with corporate power to own its
properties and conduct its business as presently
conducted by it, to conduct business as a trustee and
to enter into and perform its obligations under the
related Pooling and Servicing Agreement;
(ii) the related Pooling and Servicing
Agreement has been duly authorized, executed and
delivered by the Trustee and constitutes the legal,
valid and binding agreement of the Trustee enforceable
against the Trustee in accordance with its terms,
subject to bankruptcy, insolvency, fraudulent
conveyance, reorganization or other similar laws
affecting the enforcement of creditors' rights
generally and to judicial discretion, and general
principles of equity (regardless of whether
enforcement is sought in a proceeding in equity or at
law);
(iii) the Trustee has duly accepted its
appointment as trustee under the related Pooling and
Servicing Agreement;
(iv) no consent, approval, authorization
or order of any Massachusetts or federal court or
government agency or body is required on the part of
the Trustee for the consummation of the transactions
contemplated in the related Pooling and Servicing
Agreement, except such as may be required under any
federal or state securities law; and
(v) the performance on the part of the
Trustee of any of the transactions contemplated in the
related Pooling and Servicing Agreement does not
conflict with or result in a breach or violation of
any term or provision of, or constitute a default
under, the Articles of Organization, as amended, or
By-Laws of the Trustee, or any Massachusetts or
federal statute or
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<PAGE>
regulation applicable to the Trustee, or to such
counsel's knowledge, any indenture or other agreement
or instrument to which the Trustee is a party or by
which it is bound, or, to such counsel's knowledge,
any order of any state or federal court, regulatory
body, administrative agency or governmental body
having jurisdiction over the Trustee.
In addition, such counsel shall furnish to the Underwriter
such opinions as to the treatment of the Trust Fund for
purposes of Massachusetts tax law as are reasonably
satisfactory to the Underwriter.
(g) KPMG Peat Marwick LLP shall have furnished to
the Underwriter a letter, dated as of the date of the
related Terms Agreement, in form and substance satisfactory
to the Underwriter, stating in effect that they have
performed certain specified procedures as a result of which
they have determined that such information as the
Underwriter may reasonably request of an accounting,
financial or statistical nature (which is limited to
accounting, financial or statistical information derived
from the general accounting records of the Company) set
forth in the related Prospectus Supplement under the
caption "Delinquency and Foreclosure Experience of the
Company" agrees with the accounting records of the Company,
excluding any questions of legal interpretation.
(h) KPMG Peat Marwick LLP shall have furnished to
the Underwriter a letter, dated as of the related Closing
Date, in form and substance satisfactory to the
Underwriter, stating in effect that they have performed
certain specified procedures as a result of which they have
determined that such information as the Underwriter may
reasonably request of an accounting, financial or
statistical nature (which is limited to accounting,
financial or statistical information derived from the
general accounting records of the Company and which is
obtained from an analysis of a sample of the Mortgage Loans
included in the related pool) set forth in the related
Prospectus Supplement under the caption "Description of the
Mortgage Pool and the Mortgaged Properties" or "Description
of the Mortgage Pools and the Mortgaged Properties", as the
case may be, and in the Detailed Description relating to
such Prospectus Supplement is mutually consistent and
agrees with the accounting records of the Company and,
where applicable, the related Mortgage Loan files of the
Company, excluding any questions of legal interpretation.
In addition, if applicable, such accountants shall have
furnished to the Underwriter a letter, dated as of the
related Closing Date, which shall include a statement or
statements to the effect that based upon the assumptions
and methodology agreed to by the
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<PAGE>
Company (and which is consistent with the manner in which
any final PAC Balances, TAC Balances, Scheduled Balances,
Maximum and Minimum Scheduled Balances or any other
scheduled balances are to be calculated as set forth in the
related Prospectus), all of which shall be described by
reference in such letter, such accountants shall have
verified the mathematical accuracy of any final PAC
Balances Table, TAC Balances Table, Scheduled Balances
Table, Maximum or Minimum Scheduled Balances Table or other
scheduled balances table attached as an exhibit to the
related Pooling and Servicing Agreement.
(i) KPMG Peat Marwick LLP shall have furnished to
the Underwriter and the Company a letter or letters, dated
as of the date of the related Terms Agreement, in form and
substance satisfactory to the Underwriter and the Company,
including, without limitation, statements, if applicable,
to the effect that:
(i) based upon the assumptions and
methodology set forth in the related Prospectus, all
of which shall be described by reference in such
letter, they recomputed the percentages of initial
principal balance outstanding as of each of the
Distribution Dates (as defined in such Prospectus)
indicated and the weighted average lives of each Class
of Offered Certificates at each of the indicated
percentages of the applicable Prepayment Assumption,
and they compared the recomputed percentages and
weighted average lives to the corresponding
percentages and weighted average lives set forth in
the related tables and found them to be in agreement;
(ii) based upon the assumptions and
methodology set forth in such Prospectus, all of which
shall be described by reference in such letter, they
have verified the mathematical accuracy of any
Scheduled Final Distribution Dates for the Offered
Certificates, PAC Balances, TAC Balances, Scheduled
Balances, Maximum and Minimum Scheduled Balances or
any other scheduled balances set forth in such
Prospectus for each indicated Distribution Date, and
have verified the mathematical accuracy of any initial
Effective Ranges of any PAC Certificates, Scheduled
Certificates or other scheduled Certificates set forth
in such Prospectus; and
(iii) based upon the assumptions and
methodology set forth in such Prospectus, all of which
shall be described by reference in such letter, they
have verified the mathematical accuracy of the pre-tax
yields to maturity and, if applicable, aggregate cash
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<PAGE>
flows of any Class of Certificates for which such
pre-tax yields and, if applicable, aggregate cash
flows are set forth in such Prospectus at the
indicated percentages of the Prepayment Assumption
and, if applicable, at the indicated values of COFI,
LIBOR or any other index, as applicable.
(j) The Offered Certificates of the related
Series shall have received the ratings specified in the
related Terms Agreement (the "Required Ratings").
(k) Prior to the related Closing Date, the
Company shall have furnished to the Underwriter such
further information, certificates and documents as the
Underwriter may reasonably request.
(l) If any Certificates of the related Series are
to be sold to any other underwriter and/or offered in
reliance upon an exemption from the registration
requirements of the Act, the sale at or prior to the
related Closing Date of such Certificates to the purchaser
thereof shall have occurred.
(m) Subsequent to the date of the related Terms
Agreement, there shall not have been any change, or any
development involving a prospective change, in or affecting
the business or properties of the Company which the
Underwriter concludes in its judgment, after consultation
with the Company, materially impairs the investment quality
of the Offered Certificates of the related Series so as to
make it impractical or inadvisable to proceed with the
public offering or the delivery of such Offered
Certificates as contemplated by the related Prospectus.
If any of the conditions specified in this Section 6
shall not have been fulfilled in all material respects with
respect to the particular Offered Certificates of a Series when
and as provided in this Agreement and the related Terms
Agreement, or if any of the opinions and certificates mentioned
above or elsewhere in this Agreement and the related Terms
Agreement shall not be in all material respects reasonably
satisfactory in form and substance to the Underwriter and its
counsel, this Agreement (with respect to the related Offered
Certificates) and the related Terms Agreement and all obligations
of the Underwriter hereunder (with respect to the related Offered
Certificates) and thereunder may be canceled at, or at any time
prior to, the related Closing Date by the Underwriter. Notice of
such cancellation shall be given to the Company in writing, or by
telephone or telegraph confirmed in writing.
7. Indemnification and Contribution. (a) The Company
agrees to indemnify and hold harmless the Underwriter and each
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<PAGE>
person who controls the Underwriter within the meaning of the Act
or the Exchange Act against any and all losses, claims, damages
or liabilities, joint or several, to which they or any of them
may become subject under the Act, the Exchange Act, or other
Federal or state statutory law or regulation, at common law or
otherwise, insofar as such losses, claims, damages or liabilities
(or actions in respect thereof) arise out of or are based upon
any untrue statement or alleged untrue statement of a material
fact contained in the Registration Statement relating to the
Offered Certificates of the applicable Series as it became
effective or in any amendment or supplement thereof, or in such
Registration Statement or the related Prospectus, or in any
amendment thereof, or in the Detailed Description referred to in
such Prospectus or arise out of or are based upon the omission or
alleged omission (in the case of any Computational Materials or
ABS Term Sheets (in each case, as defined herein) in respect of
which the Company agrees to indemnify the Underwriter, as set
forth below, when such are read in conjunction with the related
Prospectus and Prospectus Supplement) to state therein a material
fact required to be stated therein or necessary to make the
statements therein not misleading, and agrees to reimburse each
such indemnified party for any legal or other expenses reasonably
incurred by them in connection with investigating or defending
any such loss, claim, damage, liability or action; provided,
however, that (i) the Company will not be liable in any such case
to the extent that any such loss, claim, damage or liability
arises out of or is based upon any such untrue statement or
alleged untrue statement or omission or alleged omission made
therein (A) in reliance upon and in conformity with written
information furnished to the Company as herein stated by or on
behalf of the Underwriter specifically for use in connection with
the preparation thereof or (B) in any Current Report or any
amendment or supplement thereof, except to the extent that any
untrue statement or alleged untrue statement therein or omission
therefrom results (or is alleged to have resulted) directly from
an error (a "Mortgage Pool Error") in the information concerning
the characteristics of the Mortgage Loans furnished by the
Company to the Underwriter in writing or by electronic
transmission that was used in the preparation of either (x) any
Computational Materials or ABS Term Sheets (or amendments or
supplements thereof) included in such Current Report (or
amendment or supplement thereof) or (y) any written or electronic
materials furnished to prospective investors on which the
Computational Materials (or amendments or supplements) were
based, (ii) such indemnity with respect to any Corrected
Statement (as defined below) in such Prospectus (or supplement
thereto) shall not inure to the benefit of the Underwriter (or
any person controlling the Underwriter) from whom the person
asserting any loss, claim, damage or liability purchased the
Certificates of the related Series that are the subject thereof
if such person did not receive a copy of a supplement to such
Prospectus at or prior to the confirmation of the sale of such
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<PAGE>
Certificates and the untrue statement or omission of a material
fact contained in such Prospectus (or supplement thereto) was
corrected (a "Corrected Statement") in such other supplement and
such supplement was furnished by the Company to the Underwriter
prior to the delivery of such confirmation, and (iii) such
indemnity with respect to any Mortgage Pool Error shall not inure
to the benefit of the Underwriter (or any person controlling the
Underwriter) from whom the person asserting any loss, claim,
damage or liability received any Computational Materials (or any
written or electronic materials on which the Computational
Materials are based) or ABS Term Sheets that were prepared on the
basis of such Mortgage Pool Error, if, prior to the time of
confirmation of the sale of the applicable Certificates to such
person, the Company notified the Underwriter in writing of the
Mortgage Pool Error or provided in written or electronic form
information superseding or correcting such Mortgage Pool Error
(in any such case, a "Corrected Mortgage Pool Error"), and the
Underwriter failed to notify such person thereof or to deliver to
such person corrected Computational Materials (or underlying
written or electronic materials) or ABS Term Sheets. This
indemnity agreement will be in addition to any liability which
the Company may otherwise have.
(b) The Underwriter agrees to indemnify and hold
harmless the Company, each of its directors, each of its officers
who signs the Registration Statement relating to the Offered
Certificates of the applicable Series, and each person who
controls the Company within the meaning of the Act or the
Exchange Act to the same extent as the foregoing indemnities from
the Company to the Underwriter, but only with reference to (A)
written information furnished to the Company by or on behalf of
the Underwriter specifically for use in the preparation of the
documents referred to in the foregoing indemnity with respect to
the related Series, or (B) any Computational Materials or ABS
Term Sheets (or amendments or supplements thereof) furnished to
the Company by the Underwriter pursuant to Section 8 and
incorporated by reference in such Registration Statement or the
related Prospectus or any amendment or supplement thereof (except
that no such indemnity shall be available for any losses, claims,
damages or liabilities, or actions in respect thereof, resulting
from any Mortgage Pool Error, other than a Corrected Mortgage
Pool Error). This indemnity agreement will be in addition to any
liability which the Underwriter may otherwise have. The Company
acknowledges that the statements set forth in the second sentence
of the ante-penultimate paragraph, the first sentence of the
penultimate paragraph, and in the last paragraph appearing on the
cover page of the related Prospectus Supplement as such
statements relate to such Offered Certificates and the second
sentence of the first paragraph under the heading "Plan of
Distribution" in such Prospectus Supplement as such statements
relate to such Offered Certificates constitute the only
information furnished in writing by or on behalf of the
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<PAGE>
Underwriter for inclusion in the related Prospectus (other than
any Computational Materials or ABS Term Sheets (or amendments or
supplements thereof) furnished to the Company by the
Underwriter), and the Underwriter confirms that such statements
are correct.
(c) Promptly after receipt by an indemnified party
under Section 7 of notice of the commencement of any action, such
indemnified party will, if a claim in respect thereof is to be
made against the indemnifying party under this Section 7, notify
the indemnifying party in writing of the commencement thereof;
but the omission so to notify the indemnifying party will not
relieve it from any liability which it may have to any
indemnified party otherwise than under this Section 7. In case
any such action is brought against any indemnified party, and it
notifies the indemnifying party of the commencement thereof, the
indemnifying party will be entitled to participate therein, and
to the extent that it may elect by written notice delivered to
the indemnified party promptly after receiving the aforesaid
notice from such indemnified party, to assume the defense
thereof, with counsel satisfactory to such indemnified party;
provided, however, that if the defendants in any such action
include both the indemnified party and the indemnifying party and
the indemnified party shall have reasonably concluded that there
may be legal defenses available to it and/or other indemnified
parties which are different from or additional to those available
to the indemnifying party, the indemnified party or parties shall
have the right to select separate counsel to assert such legal
defenses and to otherwise participate in the defense of such
action on behalf of such indemnified party or parties. Upon
receipt of notice from the indemnifying party to such indemnified
party of its election so to assume the defense of such action and
approval by the indemnified party of counsel, the indemnifying
party will not be liable to such indemnified party under this
Section 7 for any legal or other expenses subsequently incurred
by such indemnified party in connection with the defense thereof
unless (i) the indemnified party shall have employed separate
counsel in connection with the assertion of legal defenses in
accordance with the proviso to the next preceding sentence (it
being understood, however, that the indemnifying party shall not
be liable for the expenses of more than one separate counsel
approved by the indemnified party in the case of subparagraph (a)
or (b), representing the indemnified parties under subparagraph
(a) or (b), who are parties to such action), (ii) the
indemnifying party shall not have employed counsel satisfactory
to the indemnified party to represent the indemnified party
within a reasonable time after notice of commencement of the
action or (iii) the indemnifying party has authorized the
employment of counsel for the indemnified party at the expense of
the indemnifying party; and except that, if clause (i) or (iii)
is applicable, such liability shall be only in respect of the
counsel referred to in such clause (i) or (iii).
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<PAGE>
(d) If the indemnification provided for in paragraph
(a) or (b) of this Section 7 is due in accordance with its terms
but is for any reason held by a court to be unavailable from the
Company or the Underwriter, on grounds of policy or otherwise, or
if the indemnified party failed to give notice under paragraph
(c) of this Section 7 in respect of a claim otherwise subject to
indemnification in accordance with paragraph (a) or (b) of this
Section 7, the Company and the Underwriter shall contribute to
the aggregate losses, claims, damages and liabilities (including
legal and other expenses reasonably incurred in connection with
investigating or defending same) to which the Company and the
Underwriter may be subject, as follows:
(i) in the case of any losses, claims, damages and
liabilities (or actions in respect thereof) which do not
arise out of or are not based upon any untrue statement or
omission of a material fact in any Computational Materials
or ABS Term Sheets (or any amendments or supplements
thereof), in such proportion so that the Underwriter is
responsible for that portion represented by the difference
between the proceeds to the Company in respect of the
Offered Certificates appearing on the cover page of the
Prospectus Supplement for the related Series and the total
proceeds received by the Underwriter from the sale of such
Offered Certificates (the "Underwriting Discount"), and the
Company is responsible for the balance; provided, however,
that in no case shall the Underwriter be responsible under
this subparagraph (i) for any amount in excess of such
Underwriting Discount applicable to the Offered
Certificates purchased by the Underwriter pursuant to this
Agreement and the related Terms Agreement; and
(ii) in the case of any losses, claims, damages and
liabilities (or actions in respect thereof) which arise out
of or are based upon any untrue statement or omission of a
material fact in any Computational Materials or ABS Term
Sheets (or any amendments or supplements thereof) or in any
written or electronic materials distributed to prospective
investors on which the Computational Materials are based,
in such proportion as is appropriate to reflect the
relative fault of the Company on the one hand and the
Underwriter on the other in connection with the statements
or omissions which resulted in such losses, claims, damages
or liabilities (or actions in respect thereof) as well as
any other relevant equitable considerations. The relative
fault shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a
material fact or the omission or alleged omission to state
a material fact in such Computational Materials or ABS Term
Sheets (or any amendments or supplements thereof or such
written or electronic materials) results from information
prepared by the Company on the one hand or the Underwriter
on the other
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<PAGE>
and the parties' relative intent, knowledge, access to
information and opportunity to correct or prevent such
statement or omission.
Notwithstanding anything to the contrary in this Section 7(d), no
person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Act) shall be entitled to contribution
from any person who was not guilty of such fraudulent
misrepresentation. For purposes of this Section 7, each person
who controls the Underwriter within the meaning of either the Act
or the Exchange Act shall have the same rights to contribution as
the Underwriter, and each person who controls the Company within
the meaning of either the Act or the Exchange Act, each officer
of the Company who shall have signed the Registration Statement
and each director of the Company shall have the same rights to
contribution as the Company, subject in each case to the
immediately preceding sentence of this paragraph (d).
8. Computational Materials and Structural Term Sheets.
(a) Not later than 10:30 a.m., New York time, on the business day
before the date on which the Current Report relating to the
Offered Certificates of a Series is required to be filed by the
Company with the Commission pursuant to Section 5(b) hereof, the
Underwriter shall deliver to the Company five complete copies of
all materials provided by the Underwriter to prospective
investors in such Offered Certificates which constitute (i)
"Computational Materials" within the meaning of the no-action
letter dated May 20, 1994 issued by the Division of Corporation
Finance of the Commission to Kidder, Peabody Acceptance
Corporation I, Kidder, Peabody & Co. Incorporated, and Kidder
Structured Asset Corporation and the no-action letter dated May
27, 1994 issued by the Division of Corporation Finance of the
Commission to the Public Securities Association (together, the
"Kidder Letters"), the filing of which material is a condition of
the relief granted in such letter (such materials being the
"Computational Materials"), and (ii) "Structural Term Sheets"
within the meaning of the no-action letter dated February 17,
1995 issued by the Division of Corporation Finance of the
Commission to the Public Securities Association (the "PSA
Letter") and the filing of such material is a condition of the
relief granted in such letter (such materials being the
"Structural Term Sheets"). Each delivery of Computational
Materials and Structural Term Sheets to the Company pursuant to
this paragraph (a) shall be effected by delivering four copies of
such materials to counsel for the Company on behalf of the
Company at the address specified in Section 3 hereof and one copy
of such materials to the Company.
(b) The Underwriter represents and warrants to and
agrees with the Company, as of the date of the related Terms
Agreement and as of the Closing Date, that:
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<PAGE>
(i) the Computational Materials furnished to the
Company pursuant to Section 8(a) constitute (either in
original, aggregated or consolidated form) all of the
materials furnished to prospective investors by the
Underwriter prior to the time of delivery thereof to
the Company that are required to be filed with the
Commission with respect to the related Offered
Certificates in accordance with the Kidder Letters,
and such Computational Materials comply with the
requirements of the Kidder Letters;
(ii) the Structural Term Sheets furnished to the
Company pursuant to Section 8(a) constitute all of the
materials furnished to prospective investors by the
Underwriter prior to the time of delivery thereof to
the Company that are required to be filed with the
Commission as "Structural Term Sheets" with respect to
the related Offered Certificates in accordance with
the PSA Letter, and such Structural Term Sheets comply
with the requirements of the PSA Letter;
(iii) on the date any such Computational Materials
or Structural Term Sheets with respect to such Offered
Certificates (or any written or electronic materials
furnished to prospective investors on which the
Computational Materials are based) were last furnished
to each prospective investor and on the date of
delivery thereof to the Company pursuant to Section
8(a) and on the related Closing Date, such
Computational Materials (or such other materials) or
Structural Term Sheets did not and will not include
any untrue statement of a material fact or, when read
in conjunction with the related Prospectus and
Prospectus Supplement, omit to state a material fact
required to be stated therein or necessary to make the
statements therein not misleading;
(iv) the Underwriter has not represented to any
prospective investor that any Computational Materials
or Structural Term Sheets with respect to any Series
were prepared or disseminated on behalf of the
Company, and all Computational Materials and
Structural Term Sheets furnished to prospective
investors (and all written and electronic materials
furnished to prospective investors on which the
Computational Materials are based) included a
disclaimer to the effect set forth in Section 8(d);
and
(v) at the time any Computational Materials (or
any written or electronic materials furnished to
prospective investors on which the Computational
Materials are based) with respect to such Offered
- 24 -
<PAGE>
Certificates were furnished to a prospective investor
and on the date of the related Terms Agreement, the
Underwriter possessed, and on the date of delivery of
such materials to the Company pursuant to this Section
8 and on the related Closing Date, the Underwriter
will possess, the capability, knowledge, expertise,
resources and systems of internal control necessary to
ensure that such Computational Materials conform to
the representations and warranties of the Underwriter
contained in subparagraphs (i) and (iii) above of this
paragraph (b).
Notwithstanding the foregoing, the Underwriter makes no
representation or warranty as to whether any Computational
Materials or Structural Term Sheets (or any written or electronic
materials on which the Computational Materials are based)
included or will include any untrue statement resulting directly
from any Mortgage Pool Error (except any Corrected Mortgage Pool
Error, with respect to materials prepared after the receipt by
the Underwriter from the Company of notice of such Corrected
Mortgage Pool Error or materials superseding or correcting such
Corrected Mortgage Pool Error).
(c) The Underwriter shall cause a firm of public
accountants to furnish to the Company a letter, dated as of the
date on which the Underwriter delivers any Computational
Materials (which term shall be deemed to include, for purposes of
this paragraph (c), calculated statistical information delivered
to prospective investors in the form of a Structural Term Sheet)
to the Company pursuant to Section 8(a), in form and substance
satisfactory to the Company, stating in effect that they have
verified the mathematical accuracy of any calculations performed
by the Underwriter and set forth in such Computational Materials.
(d) The Underwriter acknowledges and agrees that the
Company has not authorized and will not authorize the
distribution of any Computational Materials (or any written or
electronic materials on which the Computational Materials are
based) or Structural Term Sheets to any prospective investor, and
agrees that any Computational Materials or Structural Term Sheets
with respect to any Series of Certificates furnished to
prospective investors from and after October 11, 1995 included
and shall include a disclaimer in form satisfactory to the
Company to the effect that such materials have been prepared and
disseminated solely by and on behalf of the Underwriter, and that
the Company has not reviewed or participated in the preparation
or dissemination of such materials and is not responsible for the
contents or accuracy thereof. The Underwriter agrees that it will
not represent to prospective investors that any Computational
Materials or Structural Term Sheets were prepared or disseminated
on behalf of the Company.
- 25 -
<PAGE>
(e) If, at any time when a prospectus relating to the
Offered Certificates of a Series is required to be delivered
under the Act, it shall be necessary to amend or supplement the
related Prospectus as a result of an untrue statement of a
material fact contained in any Computational Materials or
Structural Term Sheets provided by the Underwriter pursuant to
this Section 8 or the omission to state therein a material fact
required, when considered in conjunction with the related
Prospectus and Prospectus Supplement, to be stated therein or
necessary to make the statements therein, when read in
conjunction with the related Prospectus and Prospectus
Supplement, not misleading, or if it shall be necessary to amend
or supplement any Current Report relating to any Computational
Materials or Structural Term Sheets to comply with the Act or the
rules thereunder, the Underwriter promptly will prepare and
furnish to the Company for filing with the Commission an
amendment or supplement which will correct such statement or
omission or an amendment which will effect such compliance. The
Underwriter represents and warrants to the Company, as of the
date of delivery of such amendment or supplement to the Company,
that such amendment or supplement will not include any untrue
statement of a material fact or, when read in conjunction with
the related Prospectus and Prospectus Supplement, omit to state a
material fact required to be stated therein or necessary to make
the statements therein not misleading; provided, however, the
Underwriter makes no representation or warranty as to whether any
such amendment or supplement will include any untrue statement
resulting directly from any Mortgage Pool Error (except any
Corrected Mortgage Pool Error, with respect to any such amendment
or supplement prepared after the receipt by the Underwriter from
the Company of notice of such Corrected Mortgage Pool Error or
materials superseding or correcting such Corrected Mortgage Pool
Error). The Company shall have no obligation to file such
amendment or supplement if the Company determines that (i) such
amendment or supplement contains any untrue statement of a
material fact or, when read in conjunction with the related
Prospectus and Prospectus Supplement, omits to state a material
fact required to be stated therein or necessary to make the
statements therein not misleading; it being understood, however,
that the Company shall have no obligation to review or pass upon
the accuracy or adequacy of, or to correct, any such amendment or
supplement provided by the Underwriter to the Company pursuant to
this paragraph (e) or (ii) such filing is not required under the
Act.
9. Collateral Term Sheets. (a) Prior to the delivery
of any "Collateral Term Sheet" within the meaning of the PSA
Letter, the filing of which material is a condition of the relief
granted in such letter (such material being the "Collateral Term
Sheets"), to a prospective investor in any Offered Certificates,
the Underwriter shall, in order to facilitate the timely filing
of such material with the
- 26 -
<PAGE>
Commission, notify the Company and its counsel by telephone of
its intention to deliver such materials and the approximate date
on which the first such delivery of such materials is expected to
occur. Not later than 10:30 a.m., New York time, on the business
day immediately following the date on which any Collateral Term
Sheet was first delivered to a prospective investor in such
Offered Certificates, the Underwriter shall deliver to the
Company five complete copies of all materials provided by the
Underwriter to prospective investors in the Offered Certificates
which constitute "Collateral Term Sheets." Each delivery of a
Collateral Term Sheet to the Company pursuant to this paragraph
(a) shall be effected by delivering four copies of such materials
to counsel for the Company on behalf of the Company at the
address specified in Section 3 hereof and one copy of such
materials to the Company. (Collateral Term Sheets and Structural
Term Sheets are, together, referred to herein as "ABS Term
Sheets.") At the time of each such delivery, the Underwriter
shall indicate in writing that the materials being delivered
constitute Collateral Term Sheets, and, if there has been any
prior such delivery with respect to the related Series, shall
indicate whether such materials differ in any material respect
from any Collateral Term Sheets previously delivered to the
Company with respect to such Series pursuant to this Section 9(a)
as a result of the occurrence of a material change in the
characteristics of the related Mortgage Loans.
(b) The Underwriter represents and warrants to and
agrees with the Company as of the date of the related Terms
Agreement and as of the Closing Date, that:
(i) The Collateral Term Sheets furnished to
the Company pursuant to Section 9(a) constitute all of the
materials furnished to prospective investors by the
Underwriter prior to time of delivery thereof to the
Company that are required to be filed with the Commission
as "Collateral Term Sheets" with respect to the related
Offered Certificates in accordance with the PSA Letter, and
such Collateral Term Sheets comply with the requirements of
the PSA Letter;
(ii) On the date any such Collateral Term
Sheets with respect to such Offered Certificates were last
furnished to each prospective investor and on the date of
delivery thereof to the Company pursuant to Section 9(a)
and on the related Closing Date, such Collateral Term
Sheets did not and will not include any untrue statement of
a material fact or, when read in conjunction with the
Prospectus and Prospectus Supplement, omit to state a
material fact required to be stated therein or necessary to
make the statements therein not misleading; and
- 27 -
<PAGE>
(iii) the Underwriter has not represented to
any prospective investor that any Collateral Term Sheets
with respect to any Series were prepared or disseminated on
behalf of the Company, and, except as otherwise disclosed
by the Underwriter to the Company in writing prior to the
date hereof, all Collateral Term Sheets previously
furnished to prospective investors included a disclaimer to
the effect set forth in Section 8(d).
Notwithstanding the foregoing, the Underwriter makes no
representation or warranty as to whether any Collateral Term
Sheet included or will include any untrue statement or material
omission resulting directly from any Mortgage Pool Error (except
any Corrected Mortgage Pool Error, with respect to materials
prepared after the receipt by the Underwriter from the Company of
notice of such Corrected Mortgage Pool Error or materials
superseding or correcting such Corrected Mortgage Pool Error).
(c) The Underwriter acknowledges and agrees that any
Collateral Term Sheets with respect to any Series of Certificates
furnished to prospective investors from and after the date hereof
shall include a disclaimer in form satisfactory to the Company to
the effect set forth in Section 8(d) hereof, and to the effect
that the information contained in such materials supersedes the
information contained in any prior Collateral Term Sheet with
respect to such Series of Offered Certificates and will be
superseded by the description of the related Mortgage Loans in
the related Prospectus Supplement and in the Detailed Description
relating to such Prospectus Supplement to be filed under cover of
Form 8-K. The Underwriter agrees that it will not represent to
prospective investors that any Collateral Term Sheets were
prepared or disseminated on behalf of the Company.
(d) If, at any time when a prospectus relating to the
Offered Certificates of a Series is required to be delivered
under the Act, it shall be necessary to amend or supplement the
related Prospectus as a result of an untrue statement of a
material fact contained in any Collateral Term Sheets provided by
the Underwriter pursuant to this Section 9 or the omission to
state therein a material fact required, when considered in
conjunction with the related Prospectus and Prospectus
Supplement, to be stated therein or necessary to make the
statements therein, when read in conjunction with the related
Prospectus and Prospectus Supplement, not misleading, or if it
shall be necessary to amend or supplement any Current Report
relating to any Collateral Term Sheets to comply with the Act or
the rules thereunder, the Underwriter promptly will prepare and
furnish to the Company for filing with the Commission an
amendment or supplement which will correct such statement or
omission or an amendment which will effect such compliance. The
Underwriter represents and warrants to the Company, as of the
date of delivery of such amendment or supplement to the Company,
- 28 -
<PAGE>
that such amendment or supplement will not include any untrue
statement of a material fact or, when read in conjunction with
the related Prospectus and Prospectus Supplement, omit to state a
material fact required to be stated therein or necessary to make
the statements therein not misleading; provided, however, the
Underwriter makes no representation or warranty as to whether any
such amendment or supplement will include any untrue statement
resulting directly from any Mortgage Pool Error (except any
Corrected Mortgage Pool Error, with respect to any such amendment
or supplement prepared after the receipt by the Underwriter from
the Company of notice of such Corrected Mortgage Pool Error or
materials superseding or correcting such Corrected Mortgage Pool
Error). The Company shall have no obligation to file such
amendment or supplement if the Company determines that (i) such
amendment or supplement contains any untrue statement of a
material fact or, when read in conjunction with the related
Prospectus and Prospectus Supplement, omits to state a material
fact required to be stated therein or necessary to make the
statements therein not misleading; it being understood, however,
that the Company shall have no obligation to review or pass upon
the accuracy or adequacy of, or to correct, any such amendment or
supplement provided by the Underwriter to the Company pursuant to
this paragraph (d) or (ii) such filing is not required under the
Act.
10. Termination. This Agreement (with respect to a
particular Certificate Offering) and the related Terms Agreement
shall be subject to termination in the absolute discretion of the
Underwriter, by notice given to the Company prior to delivery of
and payment for the related Offered Certificates, if prior to the
related Closing Date (i) trading in securities generally on the
New York Stock Exchange shall have been suspended or materially
limited, (ii) a general moratorium on commercial banking
activities in New York shall have been declared by either federal
or New York State authorities, or (iii) there shall have occurred
any outbreak or material escalation of hostilities or other
calamity or crisis the effect of which on the financial markets
of the United States is such as to make it, in the reasonable
judgment of the Underwriter, impracticable to market such Offered
Certificates.
11. Representations and Indemnities to Survive
Delivery. The agreements, representations, warranties,
indemnities and other statements of the Company or its officers
and of the Underwriter set forth in or made pursuant to this
Agreement and the related Terms Agreement will remain in full
force and effect, regardless of any investigation made by or on
behalf of the Underwriter or the Company or any of the officers,
directors or controlling persons referred to in Section 7 hereof,
and will survive delivery of and payment for the related Offered
Certificates. The provisions of Section 7 hereof shall survive
- 29 -
<PAGE>
the termination or cancellation of this Agreement and the related
Terms Agreement.
12. Successors. This Agreement and the related Terms
Agreement will inure to the benefit of and be binding upon the
parties hereto and thereto and their respective successors and
the officers, directors and controlling persons referred to in
Section 7 hereof, and their successors and assigns, and no other
person will have any right or obligation hereunder or thereunder.
No purchaser of any Offered Certificate from the Underwriter
shall be deemed a successor or assign by reason of such purchase.
13. APPLICABLE LAW. THIS AGREEMENT AND THE RELATED
TERMS AGREEMENT WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS
MADE AND TO BE PERFORMED THEREIN.
14. Miscellaneous. This Agreement, as supplemented by
the related Terms Agreement, supersedes all prior and
contemporaneous agreements and understandings relating to the
subject matter hereof. This Agreement and the related Terms
Agreement or any term of each may not be changed, waived,
discharged or terminated except by an affirmative written
agreement made by the party against whom enforcement of the
change, waiver, discharge or termination is sought. The headings
in this Agreement and the related Terms Agreement are for
purposes of reference only and shall not limit or otherwise
affect the meaning hereof or thereof.
15. Notices. All communications hereunder will be in
writing and effective only on receipt, and, if sent to the
Underwriter, will be delivered to it at the address first above
written; or if sent to the Company, will be delivered to GE
Capital Mortgage Services, Inc., Three Executive Campus, Cherry
Hill, New Jersey 08002, Attention: General Counsel.
- 30 -
<PAGE>
If the foregoing is in accordance with your
understanding of our agreement, please sign and return to the
undersigned a counterpart hereof, whereupon this letter and your
acceptance shall represent a binding agreement between the
Company and the Underwriter.
Very truly yours,
GE CAPITAL MORTGAGE SERVICES, INC.
By:
Name:
Title:
The foregoing Agreement is hereby confirmed and accepted as of
the date first above written.
SALOMON BROTHERS INC
By:
Name:
Title:
<PAGE>
EXHIBIT A
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES ____-__
TERMS AGREEMENT
(to Underwriting Agreement,
dated October 23, 1995
between the Company and the Underwriter)
GE Capital Mortgage Services, Inc. New York, New York
Three Executive Campus [Date]
Cherry Hill, NJ 08002
Salomon Brothers Inc (the "Underwriter") agrees,
subject to the terms and provisions herein and of the captioned
Underwriting Agreement (the "Underwriting Agreement"), to
purchase such Classes of Series ____-__ Certificates specified in
Section 2(a) hereof (the "Offered Certificates"). This letter
supplements and modifies the Underwriting Agreement solely as it
relates to the purchase and sale of the Offered Certificates
described below. The Series ____-__ Certificates are registered
with the Securities and Exchange Commission by means of an
effective Registration Statement (No. 33-___). Capitalized terms
used and not defined herein have the meanings given them in the
Underwriting Agreement.
Section 1. The Mortgage Pool: The Series ____-__
Certificates shall evidence the entire beneficial ownership
interest in a mortgage pool (the "Mortgage Pool") of
conventional, fixed rate, fully amortizing one- to four-family
residential mortgage loans (the "Mortgage Loans") having the
following characteristics as of ________ __, ____ (the "Cut-off
Date"):
(a) Aggregate Principal Amount of the Mortgage Pool:
$[ ] aggregate principal balance as of the Cutoff Date,
subject to [an upward or downward variance of up to [ ]%,
the precise aggregate principal balance to be determined by
the Company][a permitted variance such that the aggregate
Scheduled Principal Balance thereof will be not less than
$[ ] or greater than $[ ]].
(b) Original Terms to Maturity: The original term to
maturity of each Mortgage Loan included in the Mortgage Pool
shall be between ___ and ___ years.
A-1
<PAGE>
Section 2. The Certificates: The Offered
Certificates shall be issued as follows:
(a) Classes: The Offered Certificates shall be issued
with the following Class designations, interest rates and
principal balances, subject in the aggregate to the
variance referred to in Section 1(a)[and, as to any
particular Class, to an upward or downward variance of up
to [ ]%]:
Principal Interest Class Purchase
Class Balance Rate Price Percentage
(b) The Offered Certificates shall have such other
characteristics as described in the related Prospectus.
Section 3. Purchase Price: The Purchase Price for each
Class of the Offered Certificates shall be the Class Purchase
Price Percentage therefor (as set forth in Section 2(a) above) of
the initial Class Certificates Principal Balance thereof plus
accrued interest at the rate of [ ]% per annum from and including
the Cut-off Date up to, but not including, _________ __, ____
(the "Closing Date").
Section 4. Required Ratings: The Offered
Certificates shall have received Required Ratings of at least
[ ] from [ ].
Section 5. Tax Treatment: [One or more elections
will be made to treat the assets of the Trust Fund as a REMIC.]
[The Trust Fund will be treated as a "grantor trust" for federal
income tax purposes.]
[Section 6. Additional Expenses:]*
- --------
* to be inserted if applicable.
A-2
<PAGE>
If the foregoing is in accordance with your
understanding of our agreement, please sign and return to the
undersigned a counterpart hereof, whereupon this letter and your
acceptance shall represent a binding agreement between the
Underwriter and the Company.
Very truly yours,
SALOMON BROTHERS INC
By:
Name:
Title:
The foregoing Agreement is hereby confirmed and accepted as of
the date first above written.
GE CAPITAL MORTGAGE SERVICES, INC.
By:
Name:
Title:
A-3
Execution
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES 1998-19
TERMS AGREEMENT
---------------
(to Underwriting Agreement
dated October 23, 1995,
between the Company and the Underwriter)
GE Capital Mortgage Services, Inc. New York, New York
Three Executive Campus October 22, 1998
Cherry Hill, NJ 08002
Salomon Smith Barney Inc. (the "Underwriter") agrees,
subject to the terms and provisions herein and of the captioned
Underwriting Agreement (the "Underwriting Agreement"), to
purchase the Classes of Series 1998-19 Certificates specified in
Section 2(a) hereof (the "Offered Certificates"). This Terms
Agreement supplements and modifies the Underwriting Agreement
solely as it relates to the purchase and sale of the Offered
Certificates described below. The Series 1998-19 Certificates are
registered with the Securities and Exchange Commission by means
of an effective Registration Statement (No. 333-51151).
Capitalized terms used and not defined herein have the meanings
given them in the Underwriting Agreement.
Section 1. The Mortgage Pool: The Series 1998-19
Certificates shall evidence the entire beneficial ownership
interest in a mortgage pool (the "Mortgage Pool") of
conventional, fixed rate, fully amortizing, first lien one- to
four-family residential mortgage loans (the "Mortgage Loans")
having the following characteristics as of October 1, 1998 (the
"Cut-off Date"):
(a) Aggregate Principal Amount of the Mortgage Pool:
$376,451,913 aggregate principal balance as of the Cut-off Date,
subject to a permitted variance such that the aggregate original
Certificate Principal Balance will be not less than $356,250,000
or greater than $393,750,000.
(b) Original Terms to Maturity: The original term to
maturity of substantially all of the Mortgage Loans included in
the Mortgage Pool shall be between 20 and 30 years.
<PAGE>
Section 2. The Certificates: The Offered Certificates shall
be issued as follows:
(a) Classes: The Offered Certificates shall be issued with
the following Class designations, interest rates and principal
balances, subject in the aggregate to the variance referred to in
Section 1(a):
Class
Principal Interest Purchase Price
Class Balance Rate Percentage
- ----- ------- ---- ----------
Class M $5,646,000 6.50% 98.09485%
Class B1 2,824,000 6.50% 96.35413%
Class B2 1,882,000 6.50% 90.76311%
(b) The Offered Certificates shall have such other
characteristics as described in the related Prospectus.
Section 3. Purchase Price: The Purchase Price for each
Class of the Offered Certificates shall be the Class Purchase
Price Percentage therefor (as set forth in Section 2(a) above) of
the initial Class Certificate Principal Balance thereof plus
accrued interest at the initial interest rate per annum from and
including the Cut-off Date up to, but not including, October 29,
1998 (the "Closing Date").
Section 4. Required Ratings: The Class M, Class B1 and
Class B2 Certificates shall have received Required Ratings of
"AA," "A" and "BBB," respectively, from Standard & Poors Rating
Services, a division of The McGraw-Hill Companies, Inc.
Section 5. Tax Treatment: One or more elections will be
made to treat the assets of the Trust Fund as a REMIC.
Section 6. Additional Expenses: The Underwriter will pay
all expenses (e.g., shipping, postage and courier costs)
associated with the delivery of the Prospectus to prospective
investors and investors, other than the costs of delivery to the
Underwriter's facilities, provided, that if courier services
(other than overnight delivery services utilized in the ordinary
course of business) are required to ensure that the Prospectus is
delivered to investors on the day immediately preceding the
Closing Date, the Company will pay such courier expenses.
2
<PAGE>
If the foregoing is in accordance with your
understanding of our agreement, please sign and return to the
undersigned a counterpart hereof, whereupon this letter and your
acceptance shall represent a binding agreement between the
Underwriter and the Company.
Very truly yours,
SALOMON SMITH BARNEY INC.
By:______________________________
Name:
Title:
The foregoing Agreement is
hereby confirmed and accepted
as of the date hereof.
GE CAPITAL MORTGAGE SERVICES, INC.
By:_______________________________
Name:
Title:
EXECUTION
=================================================================
GE CAPITAL MORTGAGE SERVICES, INC.,
Seller and Servicer
and
STATE STREET BANK AND TRUST COMPANY,
Trustee
--------------------
POOLING AND SERVICING AGREEMENT
Dated as of October 1, 1998
--------------------
REMIC Multi-Class Pass-Through Certificates,
Series 1998-19
=================================================================
<PAGE>
TABLE OF CONTENTS
-----------------
Page
----
ARTICLE I
DEFINITIONS
Section 1.01. Definitions......................................1
ARTICLE II
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES
Section 2.01. Conveyance of Mortgage Loans.....................34
Section 2.02. Acceptance by Trustee............................37
Section 2.03. Representations and Warranties
of the Company; Mortgage Loan Repurchase.........38
Section 2.04. Execution of Certificates........................45
Section 2.06. Designations under the REMIC Provisions..........45
ARTICLE III
ADMINISTRATION AND SERVICING OF MORTGAGE LOANS
Section 3.01. Company to Act as Servicer.......................46
Section 3.02. Collection of Certain Mortgage Loan
Payments; Mortgage Loan Payment Record;
Certificate Account..............................49
Section 3.03. Collection of Taxes, Assessments
and Other Items..................................52
Section 3.04. Permitted Debits to the Mortgage
Loan Payment Record..............................52
Section 3.05. Maintenance of the Primary Insurance Policies....53
Section 3.06. Maintenance of Hazard Insurance..................54
Section 3.07. Assumption and Modification Agreements...........54
Section 3.08. Realization Upon Defaulted Mortgage Loans........55
Section 3.09. Trustee to Cooperate; Release of Mortgage Files..58
Section 3.10. Servicing Compensation; Payment of Certain
Expenses by the Company..........................59
Section 3.11. Reports to the Trustee; Certificate
Account Statements...............................59
Section 3.12. Annual Statement as to Compliance................59
Section 3.13. Annual Independent Public Accountants'
Servicing Report.................................60
Section 3.14. Access to Certain Documentation and
Information Regarding the Mortgage Loans.........60
Section 3.15. Maintenance of Certain Servicing Policies........60
Section 3.16. Optional Purchase of Defaulted Mortgage Loans....61
ARTICLE IV
PAYMENTS AND STATEMENTS
Section 4.01. Distributions....................................61
Section 4.02. Method of Distribution...........................65
<PAGE>
Section 4.03. Allocation of Losses.............................66
Section 4.04. Monthly Advances; Purchases of
Defaulted Mortgage Loans.........................68
Section 4.05. Statements to Certificateholders.................69
Section 4.06. Servicer's Certificate...........................71
Section 4.07. Reports of Foreclosures and Abandonments
of Mortgaged Property............................71
Section 4.08. Reduction of Base Servicing Fees by
Compensating Interest Payments...................71
Section 4.09. Surety Bond......................................71
ARTICLE V
THE CERTIFICATES
Section 5.01. The Certificates.................................71
Section 5.02. Registration of Transfer and
Exchange of Certificates.........................73
Section 5.03. Mutilated, Destroyed, Lost or
Stolen Certificates..............................78
Section 5.04. Persons Deemed Owners............................79
Section 5.05. Access to List of Certificateholders'
Names and Addresses..............................79
Section 5.06. Representation of Certain Certificateholders.....79
Section 5.07. Determination of COFI............................80
Section 5.08. Determination of LIBOR...........................80
ARTICLE VI
THE COMPANY
Section 6.01. Liability of the Company.........................82
Section 6.02. Merger or Consolidation of, or
Assumption of the Obligations of, the Company....82
Section 6.03. Assignment.......................................82
Section 6.04. Limitation on Liability of the
Company and Others...............................82
Section 6.05. The Company Not to Resign........................83
ARTICLE VII
DEFAULT
Section 7.01. Events of Default................................83
Section 7.02. Trustee to Act; Appointment of Successor.........84
Section 7.03. Notification to Certificateholders...............85
ARTICLE VIII
THE TRUSTEE
Section 8.01. Duties of Trustee................................85
Section 8.02. Certain Matters Affecting the Trustee............87
Section 8.03. Trustee Not Liable for Certificates
or Mortgage Loans................................88
Section 8.04. Trustee May Own Certificates.....................88
Section 8.05. The Company to Pay Trustee's
Fees and Expenses................................88
Section 8.06. Eligibility Requirements for Trustee.............89
ii
<PAGE>
Section 8.07. Resignation or Removal of Trustee................89
Section 8.08. Successor Trustee................................90
Section 8.09. Merger or Consolidation of Trustee...............90
Section 8.10. Appointment of Co-Trustee or Separate Trustee....90
Section 8.11. Compliance with REMIC Provisions; Tax Returns....91
ARTICLE IX
TERMINATION
Section 9.01. Termination upon Repurchase
by the Company or Liquidation
of All Mortgage Loans............................92
Section 9.02. Additional Termination Requirements..............93
ARTICLE X
MISCELLANEOUS PROVISIONS
Section 10.01. Amendment.......................................94
Section 10.02. Recordation of Agreement........................95
Section 10.03. Limitation on Rights of Certificateholders......95
Section 10.04. Governing Law...................................96
Section 10.05. Notices.........................................96
Section 10.06. Notices to the Rating Agencies..................96
Section 10.07. Severability of Provisions......................96
Section 10.08. Certificates Nonassessable and Fully Paid.......97
iii
<PAGE>
Exhibits
- --------
EXHIBIT A Forms of Certificates
EXHIBIT B Principal Balance Schedules
EXHIBIT C Mortgage Loans (including list of Cooperative Loans)
EXHIBIT D Form of Servicer's Certificate
EXHIBIT E Form of Transfer Certificate as to ERISA
Matters for Definitive ERISA-Restricted Certificates
EXHIBIT F Form of Residual Certificate Transferee Affidavit
EXHIBIT G Form of Residual Certificate Transferor Letter
EXHIBIT H Additional Servicer Compensation
EXHIBIT I Form of Investment Letter for Definitive
Restricted Certificates
EXHIBIT J Form of Distribution Date Statement
EXHIBIT K Form of Special Servicing and Collateral Fund Agreement
EXHIBIT L Form of Lost Note Affidavit and Agreement
EXHIBIT M Schedule of Designated Loans
EXHIBIT N Schedule of Pledged Asset Mortgage Loans
EXHIBIT O Senior Principal Priorities
iv
<PAGE>
THIS POOLING AND SERVICING AGREEMENT, dated as of
October 1, 1998, between GE CAPITAL MORTGAGE SERVICES, INC., a
corporation organized and existing under the laws of the State of
New Jersey, and STATE STREET BANK AND TRUST COMPANY, a
Massachusetts banking corporation, as Trustee.
W I T N E S S E T H T H A T :
- - - - - - - - - - - - - -
In consideration of the mutual agreements herein
contained, GE Capital Mortgage Services, Inc. and State Street
Bank and Trust Company agree as follows:
ARTICLE I
DEFINITIONS
Section 1.01. Definitions. Whenever used in this Agreement,
the following words and phrases, unless the context otherwise
requires, shall have the following meanings:
Accretion Directed Certificate: Any Class A7 or Class
A8 Certificate.
Accretion Directed Component: None.
Accretion Termination Date: As to the Accrual
Certificates, the earlier of (i) the Cross-Over Date; and
(ii) the Distribution Date on which the Class Certificate
Principal Balance of the Class A8 Certificates has been
reduced to zero.
Accrual Amount: As to any Class of Accrual
Certificates and any Accrual Component and each
Distribution Date through the related Accretion Termination
Date, the sum of (x) any amount of Accrued Certificate
Interest allocable to such Class or Component pursuant to
Section 4.01(a)(i) on such Distribution Date and (y) any
amount of Unpaid Class Interest Shortfall allocable to such
Class or Component pursuant to Section 4.01(a)(ii) on such
Distribution Date, to the extent that such amounts are
distributed to any Accretion Directed Certificates and any
Accretion Directed Components pursuant to Section 4.01(e).
As to any Class of Accrual Certificates and any Accrual
Component and each Distribution Date after the related
Accretion Termination Date, zero.
Accrual Certificates: Any Class A9 Certificate.
Accrual Component: None.
Accrued Certificate Interest: As to any Distribution
Date and any Class of Certificates (other than any Class of
Principal Only Certificates and any Class of Certificates
consisting of Specified Components), interest accrued
during the related Interest Accrual Period at the
applicable Certificate Interest Rate on the Class
Certificate Principal Balance (or, in the case of any Class
of Notional Certificates, on the aggregate Notional
Principal Balance) thereof immediately prior to such
Distribution Date, calculated on the basis of a 360-day
year consisting of twelve 30-day months. As to any
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Distribution Date and any Specified Component (other than
any Principal Only Component), interest accrued during the
related Interest Accrual Period at the applicable Component
Interest Rate on the Component Principal Balance (or
Notional Component Principal Balance) thereof immediately
prior to such Distribution Date, calculated on the basis of
a 360-day year consisting of twelve 30-day months. As to
any Distribution Date and any Class of Certificates
consisting of Specified Components, the aggregate of
Accrued Certificate Interest on such Specified Components
for such Distribution Date.
Accrued Certificate Interest on each Class of
Certificates (other than any Class of Principal Only
Certificates and any Class of Certificates consisting of
Specified Components) and any Specified Component (other
than any Principal Only Component) shall be reduced by such
Class's or Specified Component's share of the amount of any
Net Interest Shortfall and Certificate Interest Losses for
such Distribution Date. Any Net Interest Shortfall and
Certificate Interest Losses shall be allocated among (x)
the Classes of Certificates (other than any Class of
Principal Only Certificates and any Class of Certificates
consisting of Specified Components) and (y) the Specified
Components (other than any Principal Only Component) of any
Component Certificate in proportion to the respective
amounts of Accrued Certificate Interest that would have
resulted absent such shortfall or losses.
Additional Collateral: With respect to any Mortgage
100SM Loan, the marketable securities held from time to
time as security for the repayment of such Mortgage 100SM
Loan and any related collateral. With respect to any Parent
PowerSM Loan, the third-party guarantee for such Parent
PowerSM Loan, together with (i) any marketable securities
held from time to time as security for the performance of
such guarantee and any related collateral or (ii) any
mortgaged property securing the performance of such
guarantee, the related home equity line of credit loan and
any related collateral.
Agreement: This Pooling and Servicing Agreement and
all amendments hereof and supplements hereto.
Allocable Share: (a) As to any Distribution Date and
amounts distributable pursuant to clauses (i) and (iii) of
the definition of Junior Optimal Principal Amount, and as
to each Class of Junior Certificates, the fraction,
expressed as a percentage, the numerator of which is the
Class Certificate Principal Balance of such Class and the
denominator of which is the aggregate Class Certificate
Principal Balance of the Junior Certificates.
(b) As to any Distribution Date and amounts
distributable pursuant to clauses (ii), (iv) and (v) of the
definition of Junior Optimal Principal Amount, and as to
the Class M Certificates and each Class of Class B
Certificates for which the related Prepayment Distribution
Trigger has been satisfied on such Distribution Date, the
fraction, expressed as a percentage, the numerator of which
is the Class Certificate Principal Balance of such Class
and the denominator of which is the aggregate Class
Certificate Principal Balance of all such Classes. As to
any Distribution Date and each Class of Class B
Certificates for which the related Prepayment Distribution
Trigger has not been satisfied on such Distribution Date,
0%.
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Amortization Payment: As to any REO Mortgage Loan and
any month, the payment of principal and accrued interest
due in such month in accordance with the terms of the
related Mortgage Note as contemplated by Section 3.08(b).
Amount Held for Future Distribution: As to each
Distribution Date, the total of all amounts credited to the
Mortgage Loan Payment Record as of the preceding
Determination Date on account of (i) Principal Prepayments,
Insurance Proceeds and Liquidation Proceeds received
subsequent to the preceding Prepayment Period applicable to
such receipts, and (ii) monthly payments of principal and
interest due subsequent to the preceding Due Date.
Anniversary Determination Date: The Determination Date
occurring in November of each year that the Certificates
are outstanding, commencing in November 1999.
Assignment of Proprietary Lease: With respect to a
Cooperative Loan, the assignment of the related Proprietary
Lease from the Mortgagor to the originator of the
Cooperative Loan.
Assumed Monthly Payment Reduction: As of any
Anniversary Determination Date and as to any Non-Primary
Residence Loan remaining in the Mortgage Pool whose
original principal balance was 80% or greater of the
Original Value thereof, the excess of (i) the Monthly
Payment thereof calculated on the assumption that the
Mortgage Rate thereon was equal to the weighted average (by
principal balance) of the Remittance Rates of all
Outstanding Mortgage Loans (the "Weighted Average Rate") as
of such Anniversary Determination Date over (ii) the
Monthly Payment thereof calculated on the assumption that
the Remittance Rate thereon was equal to the Weighted
Average Rate less 1.25% per annum.
Available Funds: As to each Distribution Date, an
amount equal to the sum of (i) all amounts credited to the
Mortgage Loan Payment Record pursuant to Section 3.02 as of
the preceding Determination Date, (ii) any Monthly Advance
and any Compensating Interest Payment for such Distribution
Date, (iii) the Purchase Price of any Defective Mortgage
Loans and Defaulted Mortgage Loans deposited in the
Certificate Account on the Business Day preceding such
Distribution Date (including any amounts deposited in the
Certificate Account in connection with any substitution of
a Mortgage Loan as specified in Section 2.03(b)), and (iv)
the purchase price of any defaulted Mortgage Loan purchased
under an agreement entered into pursuant to Section 3.08(e)
as of the end of the preceding Prepayment Period less the
sum of (x) the Amount Held for Future Distribution, (y) the
amount of any Unanticipated Recovery credited to the
Mortgage Loan Payment Record pursuant to clause (vi) of
Section 3.02(b), and (z) amounts permitted to be debited
from the Mortgage Loan Payment Record pursuant to clauses
(i) through (vii) and (ix) of Section 3.04.
Bankruptcy Coverage Termination Date: The Distribution
Date upon which the Bankruptcy Loss Amount has been reduced
to zero or a negative number (or the Cross-Over Date, if
earlier).
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Bankruptcy Loss Amount: As of any Determination Date
prior to the first Anniversary Determination Date, the
Bankruptcy Loss Amount shall equal $129,020, as reduced by
the aggregate amount of Deficient Valuations and Debt
Service Reductions since the Cut-off Date. As of any
Determination Date after the first Anniversary
Determination Date, other than an Anniversary Determination
Date, the Bankruptcy Loss Amount shall equal the Bankruptcy
Loss Amount on the immediately preceding Anniversary
Determination Date as reduced by the aggregate amount of
Deficient Valuations and Debt Service Reductions since such
preceding Anniversary Determination Date. As of any
Anniversary Determination Date, the Bankruptcy Loss Amount
shall equal the lesser of (x) the Bankruptcy Loss Amount as
of the preceding Determination Date as reduced by any
Deficient Valuations and Debt Service Reductions for the
preceding Distribution Date, and (y) the greater of (i) the
Fitch Formula Amount for such Anniversary Determination
Date and (ii) the Formula Amount for such Anniversary
Determination Date.
The Bankruptcy Loss Amount may be further reduced by
the Company (including accelerating the manner in which
such coverage is reduced) provided that prior to any such
reduction, the Company shall obtain written confirmation
from each Rating Agency that such reduction shall not
adversely affect the then-current rating assigned to the
related Classes of Certificates by such Rating Agency and
shall provide a copy of such written confirmation to the
Trustee.
Base Servicing Fee: As to any Mortgage Loan and
Distribution Date, an amount equal to the product of (i)
the Scheduled Principal Balance of such Mortgage Loan as of
the Due Date in the preceding calendar month and (ii) the
Base Servicing Fee Rate for such Mortgage Loan. The Base
Servicing Fee for any Distribution Date is subject to
adjustment pursuant to Section 3.08(d) (with respect to a
Realized Loss) or the definition of Interest Loss (with
respect to the interest portion of a Debt Service
Reduction).
Base Servicing Fee Rate: As to any Mortgage Loan, the
per annum rate identified as such for such Mortgage Loan
and set forth in the Mortgage Loan Schedule.
BBA: The British Bankers' Association.
BIF: The Bank Insurance Fund of the FDIC, or its
successor in interest.
Book-Entry Certificate: Any Certificate registered in
the name of the Depository or its nominee, ownership of
which is reflected on the books of the Depository or on the
books of a person maintaining an account with such
Depository (directly or as an indirect participant in
accordance with the rules of such Depository). As of the
Closing Date, each Class of Certificates, other than the
Class B3, Class B4, Class B5, Class R and Class PO
Certificates, constitutes a Class of Book-Entry
Certificates.
Book-Entry Nominee: As defined in Section 5.02(b).
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Business Day: Any day other than a Saturday or a
Sunday, or a day on which banking institutions in New York
City or the city in which the Corporate Trust Office is
located are authorized or obligated by law or executive
order to be closed.
Buydown Funds: Funds contributed by the Mortgagor or
another source in order to reduce the interest payments
required from the Mortgagor for a specified period in
specified amounts.
Buydown Mortgage Loan: Any Mortgage Loan as to which
the Mortgagor pays less than the full monthly payment
specified in the Mortgage Note during the Buydown Period
and the difference between the amount paid by the Mortgagor
and the amount specified in the Mortgage Note is paid from
the related Buydown Funds.
Buydown Period: The period during which Buydown Funds
are required to be applied to the related Buydown Mortgage
Loan.
Certificate: Any one of the certificates signed and
countersigned by the Trustee in substantially the forms
attached hereto as Exhibit A.
Certificate Account: The trust account or accounts
created and maintained with the Trustee pursuant to Section
3.02 and which must be an Eligible Account.
Certificate Interest Loss: (i) On or prior to the
Cross-Over Date, any Interest Loss in respect of an Excess
Loss and (ii) after the Cross-Over Date, any Interest Loss,
in each case to the extent such Interest Loss is allocable
to the Certificates in accordance with Section 3.08(d)
(with respect to a Realized Loss) or the definition of
Interest Loss (with respect to the interest portion of a
Debt Service Reduction).
Certificate Interest Rate: With respect to any Class
of Certificates, other than any LIBOR Certificate, and as
of any Distribution Date, the per annum fixed rate
specified in Section 5.01(b). With respect to any Class of
LIBOR Certificates, the per annum variable rate at any time
at which interest accrues on the Certificates of such
Class, as determined pursuant to Section 5.01(e).
Certificate Owner: With respect to any Book-Entry
Certificate, the person who is the beneficial owner
thereof.
Certificate Principal Balance: As to any Certificate
other than a Notional Certificate, and as of any
Distribution Date, the Initial Certificate Principal
Balance of such Certificate (plus, in the case of any
Accrual Certificate, its Percentage Interest of any related
Accrual Amount for each previous Distribution Date) less
the sum of (i) all amounts distributed with respect to such
Certificate in reduction of the Certificate Principal
Balance thereof on previous Distribution Dates pursuant to
Section 4.01, (ii) any Realized Losses allocated to such
Certificate on previous Distribution Dates pursuant to
Section 4.03(b) and (c), and (iii) in the case of a
Subordinate Certificate, such Certificate's Percentage
Interest of the Subordinate Certificate Writedown Amount
allocated to such Certificate on previous Distribution
Dates. The Notional Certificates are issued without
Certificate Principal Balances.
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Certificate Register and Certificate Registrar: The
register maintained and the registrar appointed pursuant to
Section 5.02.
Certificateholder or Holder: The person in whose name
a Certificate is registered in the Certificate Register,
except that, solely for the purposes of giving any consent
pursuant to this Agreement, a Certificate of any Class to
the extent that the Company or any affiliate is the
Certificate Owner or Holder thereof (except to the extent
the Company or any affiliate thereof shall be the
Certificate Owner or Holder of all Certificates of such
Class), shall be deemed not to be outstanding and the
Percentage Interest (or Voting Rights) evidenced thereby
shall not be taken into account in determining whether the
requisite amount of Percentage Interests (or Voting Rights)
necessary to effect any such consent has been obtained;
provided, however, that in determining whether the Trustee
shall be protected in relying on such consent only the
Certificates that the Trustee knows to be so held shall be
so disregarded.
Class: All Certificates bearing the same class
designation.
Class B Certificate: Any Class B1, Class B2, Class B3,
Class B4 or Class B5 Certificate.
Class Certificate Principal Balance: As to any Class
of Certificates, other than any Class of Notional
Certificates, and as of any date of determination, the
aggregate of the Certificate Principal Balances of all
Certificates of such Class. The Class Certificate Principal
Balance of each such Class of Certificates as of the
Closing Date is specified in Section 5.01(b).
Class Interest Shortfall: As to any Distribution Date
and any Class of Certificates (other than any Class of
Principal Only Certificates or any Class consisting of
Specified Components) or any Specified Component, any
amount by which the amount distributed to Holders of such
Class of Certificates or in respect of such Specified
Component (or added to the Class Certificate Principal
Balance of any Class of Accrual Certificates or to the
Component Principal Balance of any Accrual Component
constituting a Specified Component) on such Distribution
Date is less than the Accrued Certificate Interest thereon
or in respect thereof for such Distribution Date. As to any
Distribution Date and any Class of Certificates consisting
of Specified Components, the sum of the Class Interest
Shortfalls for such Components on such date.
Class PO Deferred Amount: As to any Distribution Date
on or prior to the Cross-Over Date, the aggregate of the
applicable PO Percentage of the principal portion of each
Realized Loss, other than any Excess Loss, to be allocated
to the Class PO Certificates on such Distribution Date or
previously allocated to the Class PO Certificates and not
yet paid to the Holders of the Class PO Certificates
pursuant to Section 4.01(a)(iv).
Closing Date: October 29, 1998.
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Code: The Internal Revenue Code of 1986, as it may be
amended from time to time, any successor statutes thereto,
and applicable U.S. Department of the Treasury temporary or
final regulations promulgated thereunder.
COFI: The monthly weighted average cost of funds for
savings institutions the home offices of which are located
in Arizona, California, or Nevada that are member
institutions of the Eleventh Federal Home Loan Bank
District, as computed from statistics tabulated and
published by the Federal Home Loan Bank of San Francisco in
its monthly Information Bulletin.
COFI Certificates: None.
COFI Determination Date: As to each Interest Accrual
Period for any COFI Certificates, the last Business Day of
the calendar month preceding the commencement of such
Interest Accrual Period.
Company: GE Capital Mortgage Services, Inc., a
corporation organized and existing under the laws of the
State of New Jersey, or its successor in interest or, if
any successor servicer is appointed as herein provided,
then such successor servicer.
Compensating Interest Payment: With respect to any
Distribution Date, an amount equal to the aggregate of the
Interest Shortfalls described in clauses (a) and (b) of the
definition thereof with respect to such Distribution Date;
provided, however, that such amount shall not exceed the
lesser of (i) an amount equal to the product of (x) the
Pool Scheduled Principal Balance with respect to such
Distribution Date and (y) one-twelfth of 0.125%, and (ii)
the aggregate of the Base Servicing Fees that the Company
would be entitled to retain on such Distribution Date (less
any portion thereof paid as servicing compensation to any
Primary Servicer) without giving effect to any Compensating
Interest Payment.
Component: Any of the components of a Class of
Component Certificates having the designations and the
initial Component Principal Balances as follows:
Initial Component
Designation Principal Balance
----------- -----------------
N/A N/A
Component Certificate: None.
Component Interest Rate: None.
Component Principal Balance: As of any Distribution
Date, and with respect to any Component, other than any
Notional Component, the initial Component Principal Balance
thereof (as set forth, as applicable, in the definition of
Component) (plus, in the case of any Accrual Component, any
related Accrual Amount for each previous Distribution Date)
less the sum of (x) all amounts distributed in reduction
thereof on previous Distribution Dates pursuant to Section
4.01 and (y) the amount of all Realized Losses allocated
thereto pursuant to Section 4.03(d).
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Confirmatory Mortgage Note: With respect to any
Mortgage Loan, a note or other evidence of indebtedness
executed by the Mortgagor confirming its obligation under
the note or other evidence of indebtedness previously
executed by the Mortgagor upon the origination of the
related Mortgage Loan.
Cooperative: A private, cooperative housing
corporation organized in accordance with applicable state
laws which owns or leases land and all or part of a
building or buildings located in the relevant state,
including apartments, spaces used for commercial purposes
and common areas therein and whose board of directors
authorizes, among other things, the sale of Cooperative
Stock.
Cooperative Apartment: A dwelling unit in a
multi-dwelling building owned or leased by a Cooperative,
which unit the Mortgagor has an exclusive right to occupy
pursuant to the terms of one or more Proprietary Leases.
Cooperative Loans: Any of the Mortgage Loans made in
respect of a Cooperative Apartment, evidenced by a Mortgage
Note and secured by (i) a Security Agreement, (ii) the
related Cooperative Stock Certificate(s), (iii) an
assignment of the Proprietary Lease(s), (iv) financing
statements and (v) a stock power (or other similar
instrument), and in addition thereto, a recognition
agreement between the Cooperative and the originator of the
Cooperative Loan, each of which was transferred and
assigned to the Trustee pursuant to Section 2.01 and are
from time to time held as part of the Trust Fund. The
Mortgage Loans identified in Exhibit C hereto are
Cooperative Loans.
Cooperative Stock: With respect to a Cooperative Loan,
the single outstanding class of stock, partnership interest
or other ownership instrument in the related Cooperative.
Cooperative Stock Certificate: With respect to a
Cooperative Loan, the stock certificate(s) or other
instrument evidencing the related Cooperative Stock.
Corporate Trust Office: The principal office of the
Trustee at which at any particular time its corporate trust
business shall be administered, which office at the date of
the execution of this instrument is located at Two
International Place, Boston, Massachusetts 02110,
Attention: Corporate Trust Department.
Cross-Over Date: The first Distribution Date on which
the aggregate Class Certificate Principal Balance of the
Junior Certificates has been reduced to zero (giving effect
to all distributions on such Distribution Date).
Cut-off Date: October 1, 1998.
Debt Service Reduction: As to any Mortgage Loan and
any Determination Date, the excess of (a) the then current
Monthly Payment for such Mortgage Loan over (b) the amount
of the monthly payment of principal and interest required
to be paid by the Mortgagor as established by a court of
competent jurisdiction as a result of a proceeding
initiated by or against the related Mortgagor under the
Bankruptcy Code, as amended from time to time (11 U.S.C.).
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Defaulted Mortgage Loan: With respect to any
Determination Date, a Mortgage Loan as to which the related
Mortgagor has failed to make unexcused payment in full of a
total of three or more consecutive installments of
principal and interest, and as to which such delinquent
installments have not been paid, as of the close of
business on the last Business Day of the month next
preceding the month of such Determination Date.
Defective Mortgage Loan: Any Mortgage Loan which is
required to be purchased by the Company (or which the
Company may replace with a substitute Mortgage Loan)
pursuant to Section 2.02 or 2.03(a).
Deficient Valuation: As to any Mortgage Loan and any
Determination Date, the excess of (a) the then outstanding
indebtedness under such Mortgage Loan over (b) the
valuation by a court of competent jurisdiction of the
related Mortgaged Property as a result of a proceeding
initiated by or against the related Mortgagor under the
Bankruptcy Code, as amended from time to time (11 U.S.C.),
pursuant to which such Mortgagor retained such Mortgaged
Property.
Definitive Certificate: Any Certificate, other than a
Book-Entry Certificate, issued in definitive, fully
registered form.
Definitive Restricted Junior Certificate: Any
Restricted Junior Certificate that is in the form of a
Definitive Certificate.
Depository: The initial Depository shall be The
Depository Trust Company, the nominee of which is CEDE &
Co. The Depository shall at all times be a "clearing
corporation" as defined in Section 8-102(a)(5) of the
Uniform Commercial Code of the State of New York, as
amended, or any successor provisions thereto.
Depository Participant: A broker, dealer, bank or
other financial institution or other Person for which, from
time to time, the Depository effects book-entry transfers
and pledges of securities deposited with such Depository.
Designated Loan Closing Documents: With respect to any
Designated Loan, a Lost Note Affidavit substantially in the
form of Exhibit L, and an assignment of the related
Mortgage to the Trustee in recordable form (except for the
omission therein of recording information concerning such
Mortgage).
Designated Loans: The Mortgage Loans, if any, listed
on Exhibit M hereto.
Designated Telerate Page: The Dow Jones Telerate
Service page 3750 (or such other page as may replace page
3750 on that service or such other service as may be
nominated by the BBA for the purpose of displaying the
Interest Settlement Rates).
Determination Date: With respect to any Distribution
Date, the fifth Business Day prior thereto.
Discount Mortgage Loan: Any Mortgage Loan with a Net
Mortgage Rate less than 6.50% per annum.
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Disqualified Organization: Any of the following: (i)
the United States, any State or political subdivision
thereof, or any agency or instrumentality of any of the
foregoing (including but not limited to state pension
organizations); (ii) a foreign government, International
Organization or any agency or instrumentality of either of
the foregoing; (iii) an organization (except certain
farmers' cooperatives described in Code section 521) which
is exempt from tax imposed by Chapter 1 of the Code
(including the tax imposed by section 511 of the Code on
unrelated business taxable income); and (iv) a rural
electric and telephone cooperative described in Code
section 1381(a)(2)(C). The terms "United States," "State"
and "International Organization" shall have the meanings
set forth in Code section 7701 or successor provisions. A
corporation will not be treated as an instrumentality of
the United States or of any State or political subdivision
thereof for these purposes if all of its activities are
subject to tax and a majority of its board of directors is
not selected by such governmental unit.
Distribution Date: The 25th day of each calendar month
after the month of initial issuance of the Certificates,
or, if such 25th day is not a Business Day, the next
succeeding Business Day.
Distribution Date Statement: The statement referred to
in Section 4.05(a).
Document File: As defined in Section 2.01.
Due Date: The first day of the month of the related
Distribution Date.
Eligible Account: An account that is either (i)
maintained with a depository institution the debt
obligations of which have been rated by each Rating Agency
in one of its two highest long-term rating categories and
has been assigned by S&P its highest short-term rating,
(ii) an account or accounts the deposits in which are fully
insured by either the BIF or the SAIF, (iii) an account or
accounts, in a depository institution in which such
accounts are insured by the BIF or the SAIF (to the limits
established by the FDIC), the uninsured deposits in which
accounts are either invested in Permitted Investments or
are otherwise secured to the extent required by the Rating
Agencies such that, as evidenced by an Opinion of Counsel
delivered to the Trustee, the Certificateholders have a
claim with respect to the funds in such account or a
perfected first security interest against any collateral
(which shall be limited to Permitted Investments) securing
such funds that is superior to claims of any other
depositors or creditors of the depository institution with
which such account is maintained, (iv) a trust account
maintained with the corporate trust department of a federal
or state chartered depository institution or of a trust
company with trust powers and acting in its fiduciary
capacity for the benefit of the Trustee hereunder or (v)
such account as will not cause either Rating Agency to
downgrade or withdraw its then-current rating assigned to
the Certificates, as evidenced in writing by the Rating
Agencies.
ERISA: The Employee Retirement Income Security Act of
1974, as amended.
ERISA-Restricted Certificate: Any Junior Certificate.
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Event of Default: An event described in Section 7.01.
Excess Bankruptcy Loss: Any Deficient Valuation or
Debt Service Reduction, or portion thereof, (i) occurring
after the Bankruptcy Coverage Termination Date or (ii) if
on such date, in excess of the then-applicable Bankruptcy
Loss Amount.
Excess Fraud Loss: Any Fraud Loss, or portion thereof,
(i) occurring after the Fraud Coverage Termination Date or
(ii) if on such date, in excess of the then-applicable
Fraud Loss Amount.
Excess Loss: Any Excess Bankruptcy Loss, Excess Fraud
Loss or Excess Special Hazard Loss.
Excess Special Hazard Loss: Any Special Hazard Loss,
or portion thereof, (i) occurring after the Special Hazard
Termination Date or (ii) if on such date, in excess of the
then-applicable Special Hazard Loss Amount.
FDIC: The Federal Deposit Insurance Corporation, or
its successor in interest.
FHLMC: The Federal Home Loan Mortgage Corporation or
its successor in interest.
Financial Intermediary: A broker, dealer, bank or
other financial institution or other Person that clears
through or maintains a custodial relationship with a
Depository Participant.
Fitch: Fitch IBCA, Inc. and its successors.
Fitch Formula Amount: As to each Anniversary
Determination Date, the greater of (i) $50,000 and (ii) the
product of (x) the greatest Assumed Monthly Payment
Reduction for any Non-Primary Residence Loan whose original
principal balance was 80% or greater of the Original Value
thereof, (y) the weighted average remaining term to
maturity (expressed in months) of all the Non-Primary
Residence Loans remaining in the Mortgage Pool as of such
Anniversary Determination Date, and (z) the sum of (A) one
plus (B) the number of all remaining Non-Primary Residence
Loans divided by the total number of Outstanding Mortgage
Loans as of such Anniversary Determination Date.
FNMA: The Federal National Mortgage Association or its
successor in interest.
Formula Amount: As to each Anniversary Determination
Date, the greater of (i) $100,000 and (ii) the product of
(x) 0.06% and (y) the Scheduled Principal Balance of each
Mortgage Loan remaining in the Mortgage Pool whose original
principal balance was 75% or greater of the Original Value
thereof.
Fraud Coverage Termination Date: The Distribution Date
upon which the related Fraud Loss Amount has been reduced
to zero or a negative number (or the Cross-Over Date, if
earlier).
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Fraud Loss: Any Realized Loss attributable to fraud in
the origination of the related Mortgage Loan.
Fraud Loss Amount: As of any Distribution Date after
the Cut-off Date, (x) prior to the first anniversary of the
Cut-off Date, an amount equal to $3,764,519 minus the
aggregate amount of Fraud Losses that would have been
allocated to the Junior Certificates in accordance with
Section 4.03 in the absence of the Loss Allocation
Limitation since the Cut-off Date, and (y) from the first
to the fifth anniversary of the Cut-off Date, an amount
equal to (1) the lesser of (a) the Fraud Loss Amount as of
the most recent anniversary of the Cut-off Date and (b) 1%
(from the first to but excluding the third anniversaries of
the Cut-off Date) or 0.5% (from and including the third to
but excluding the fifth anniversaries of the Cut-off Date)
of the aggregate outstanding principal balance of all of
the Mortgage Loans as of the most recent anniversary of the
Cut-off Date minus (2) the Fraud Losses that would have
been allocated to the Junior Certificates in accordance
with Section 4.03 in the absence of the Loss Allocation
Limitation since the most recent anniversary of the Cut-off
Date. As of any Distribution Date on or after the fifth
anniversary of the Cut-off Date the Fraud Loss Amount shall
be zero.
Group I Final Distribution Date: The Distribution Date
on which the aggregate Certificate Principal Balance of the
Group I Senior Certificates is reduced to zero.
Group I Senior Certificate: Any Class A1, Class A2,
Class A3, Class A4, Class A5, Class A6, Class A7, Class A8,
Class A9, Class A10, Class A11 or Class R Certificate.
Group II Senior Certificate: Any Class A12
Certificate.
Group II Senior Percentage: With respect to any
Distribution Date, the percentage (carried to six decimal
places) obtained by dividing (x) the aggregate Certificate
Principal Balance of the Group II Senior Certificates
immediately preceding such Distribution Date, by (y) the
aggregate Certificate Principal Balance of all the
Certificates (other than the Class PO Certificates)
immediately preceding such Distribution Date.
Group II Senior Prepayment Distribution Percentage: 0%
through the Distribution Date in October 2003; 30%
thereafter through the Distribution Date in October 2004;
40% thereafter through the Distribution Date in October
2005; 60% thereafter through the Distribution Date in
October 2006; 80% thereafter through the Distribution Date
in October 2007; and 100% thereafter.
Group II Senior Principal Distribution Amount: With
respect to any Distribution Date, the sum of (a) the total
of the amounts described in clauses (i) and (iii) of the
definition of Senior Optimal Principal Amount (without
application of the Senior Percentage or the Senior
Prepayment Percentage) for such date multiplied by the
Group II Senior Scheduled Distribution Percentage for such
date and (b) the total of the amounts described in clauses
(ii), (iv) and (v) of the definition of Senior Optimal
Principal
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Amount (without application of the Senior Prepayment
Percentage) for such date multiplied by the product of (x)
the Group II Senior Percentage for such date and (y) the
Group II Senior Prepayment Distribution Percentage for such
date; provided, however, that (i) on the Group I Final
Distribution Date, the Group II Senior Principal
Distribution Amount will be increased by any portion of the
Senior Optimal Principal Amount remaining after
distributions of principal have been made on the Group I
Senior Certificates and (ii) following the Group I Final
Distribution Date, the Group II Senior Principal
Distribution Amount will equal the Senior Optimal Principal
Amount.
Group II Senior Scheduled Distribution Percentage:
With respect to any Distribution Date through the
Distribution Date in October 2003, 0%. The Group II Senior
Scheduled Distribution Percentage for any Distribution Date
after the Distribution Date in October 2003 will equal the
Group II Senior Percentage for such Distribution Date.
Notwithstanding the foregoing, on any Distribution Date
after the Group I Final Distribution Date, the Group II
Senior Scheduled Distribution Percentage will equal the
Senior Percentage.
Initial Certificate Principal Balance: With respect to
any Certificate, other than a Notional Certificate, the
Certificate Principal Balance of such Certificate or any
predecessor Certificate on the Closing Date.
Initial LIBOR Rate: 5.625%.
Insurance Proceeds: Proceeds paid pursuant to the
Primary Insurance Policies, if any, and amounts paid by any
insurer pursuant to any other insurance policy covering a
Mortgage Loan.
Insured Expenses: Expenses covered by the Primary
Insurance Policies, if any, or any other insurance policy
or policies applicable to the Mortgage Loans.
Interest Accrual Period: With respect to any
Distribution Date and any Class of Certificates (other than
any Class of Principal Only Certificates) or Component, the
one-month period ending on the last day of the month
preceding the month in which such Distribution Date occurs.
Interest Loss: (i) With respect to any Realized Loss,
the excess of accrued and unpaid interest due on the
related Mortgage Loan over the amount allocated to interest
thereon in accordance with Section 3.08(d), and (ii) with
respect to any Debt Service Reduction and any calendar
month, the reduction in the amount of interest due on the
related Mortgage Loan during such month as a result of the
relevant bankruptcy proceeding.
The amount of any Interest Loss described in clause
(i) of the preceding paragraph will be allocated among the
Base Servicing Fee, the Supplemental Servicing Fee and the
Certificates in accordance with Section 3.08(d). The amount
of any Interest Loss described in clause (ii) of the
preceding paragraph will be allocated among the Base
Servicing Fee, the Supplemental Servicing Fee and the
Certificates in proportion to the
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amount of interest that would have been allocated to the
Base Servicing Fee at the Base Servicing Fee Rate, the
Supplemental Servicing Fee at the Supplemental Servicing
Fee Rate and interest at the Remittance Rate, respectively,
in the absence of the Debt Service Reduction.
Interest Settlement Rate: With respect to any Interest
Accrual Period, the rate (expressed as a percentage per
annum) for one-month U.S. Dollar deposits reported by the
BBA at 11:00 a.m. London time on the related LIBOR
Determination Date and as it appears on the Designated
Telerate Page.
Interest Shortfall: With respect to any Distribution
Date and each Mortgage Loan that during the related
Prepayment Period was the subject of a Voluntary Principal
Prepayment or constitutes a Relief Act Mortgage Loan, an
amount determined as follows:
(A) partial principal prepayments: one month's
interest at the applicable Net Mortgage Rate on the
amount of such prepayment;
(B) principal prepayments in full received on or
after the sixteenth day of the month preceding the
month of such Distribution Date (or, in the case of
the first Distribution Date, on or after the Cut-off
Date) but on or before the last day of the month
preceding the month of such Distribution Date, the
difference between (i) one month's interest at the
applicable Net Mortgage Rate on the Scheduled
Principal Balance of such Mortgage Loan immediately
prior to such prepayment and (ii) the amount of
interest for the calendar month of such prepayment
(adjusted to the applicable Net Mortgage Rate)
received at the time of such prepayment;
(C) principal prepayments in full received by the
Company (or of which the Company receives notice, in
the case of a Mortgage Loan serviced by a Primary
Servicer) on or after the first day but on or before
the fifteenth day of the month of such Distribution
Date: none; and
(D) Relief Act Mortgage Loans: As to any Relief
Act Mortgage Loan, the excess of (i) 30 days' interest
(or, in the case of a Principal Prepayment in full,
interest to the date of prepayment) on the Scheduled
Principal Balance thereof (or, in the case of a
Principal Prepayment in part, on the amount so
prepaid) at the related Net Mortgage Rate over (ii) 30
days' interest (or, in the case of a Principal
Prepayment in full, interest to the date of
prepayment) on such Scheduled Principal Balance (or,
in the case of a Principal Prepayment in part, on the
amount so prepaid) at the Net Mortgage Rate required
to be paid by the Mortgagor as limited by application
of the Relief Act.
For purposes of the definitions of Net Interest
Shortfall and Supplemental Servicing Fee, the amount of any
Interest Shortfall shall be allocated between the
Certificates and the Supplemental Servicing Fee in
proportion to the amount of interest that would have been
allocated to the Certificates (at the Remittance Rate) and
the
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Supplemental Servicing Fee (at the Supplemental Servicing
Fee Rate), respectively, in the absence of such Interest
Shortfall.
Junior Certificate: Any Class M or Class B
Certificate.
Junior Optimal Principal Amount: As to any
Distribution Date, an amount equal to the sum of the
following (but in no event greater than the aggregate
Certificate Principal Balance of the Junior Certificates
immediately prior to such Distribution Date):
(i) the Junior Percentage of the applicable Non-PO
Percentage of the principal portion of each Monthly Payment
due on the related Due Date on each Outstanding Mortgage
Loan as of such Due Date as specified in the amortization
schedule at the time applicable thereto (after adjustment
for previous Principal Prepayments and the principal
portion of Debt Service Reductions subsequent to the
Bankruptcy Coverage Termination Date but before any
adjustment to such amortization schedule by reason of any
bankruptcy (other than as aforesaid) or similar proceeding
or any moratorium or similar waiver or grace period);
(ii) the Junior Prepayment Percentage of the
applicable Non-PO Percentage of all principal prepayments
in part received during the related Prepayment Period, and
100% of any Senior Optimal Principal Amount not distributed
to the Senior Certificates on such Distribution Date,
together with the Junior Prepayment Percentage of the
applicable Non-PO Percentage of the Scheduled Principal
Balance of each Mortgage Loan which was the subject of a
Voluntary Principal Prepayment in full during the related
Prepayment Period;
(iii) the excess, if any, of (x) the applicable
Non-PO Percentage of the sum of (A) all Net Liquidation
Proceeds allocable to principal received during the related
Prepayment Period (other than in respect of Mortgage Loans
described in clause (B)) and (B) the principal balance of
each Mortgage Loan that was purchased by an insurer from
the Trustee during the related Prepayment Period pursuant
to the related Primary Insurance Policy, over (y) the
amount distributable pursuant to clause (iii) of the
definition of Senior Optimal Principal Amount on such
Distribution Date;
(iv) the Junior Prepayment Percentage of the
applicable Non-PO Percentage of the Scheduled Principal
Balance of each Mortgage Loan which was purchased on such
Distribution Date pursuant to Section 2.02, 2.03(a) or
3.16; and
(v) the Junior Prepayment Percentage of the applicable
Non-PO Percentage of the Substitution Amount for any
Mortgage Loan substituted during the month of such
Distribution Date.
For purposes of clause (ii) above, a Voluntary
Principal Prepayment in full with respect to a Mortgage
Loan serviced by a Primary Servicer shall be deemed to have
been received when the Company, as servicer, receives
notice thereof.
After the Class Certificate Principal Balances of the
Junior Certificates have been reduced to zero, the Junior
Optimal Principal Amount shall be zero.
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<PAGE>
Junior Percentage: As to any Distribution Date, the
excess of 100% over the Senior Percentage for such
Distribution Date.
Junior Prepayment Percentage: As to any Distribution
Date, the excess of 100% over the Senior Prepayment
Percentage for such Distribution Date, except that (i)
after the aggregate Certificate Principal Balance of the
Senior Certificates other than the Class PO Certificates
has been reduced to zero, the Junior Prepayment Percentage
shall be 100%, and (ii) after the Cross-Over Date, the
Junior Prepayment Percentage shall be zero.
Latest Possible Maturity Date: October 25, 2030.
LIBOR: With respect to any Interest Accrual Period,
the per annum rate determined, pursuant to Section 5.08, on
the basis of the Interest Settlement Rate or as otherwise
provided in such Section.
LIBOR Certificate: Any Class A10 or Class A11
Certificate.
LIBOR Determination Date: The second London Banking
Day immediately preceding the commencement of each Interest
Accrual Period for any LIBOR Certificates.
Liquidated Mortgage Loan: Any defaulted Mortgage Loan
as to which the Company has determined that all amounts
which it expects to recover on behalf of the Trust Fund
from or on account of such Mortgage Loan have been
recovered, including any Mortgage Loan with respect to
which the Company determines not to foreclose upon the
related Mortgaged Property based on its belief that such
Mortgaged Property may be contaminated with or affected by
hazardous or toxic wastes, materials or substances.
Liquidation Expenses: Expenses which are incurred by
the Company in connection with the liquidation of any
defaulted Mortgage Loan and not recovered by the Company
under any Primary Insurance Policy for reasons other than
the Company's failure to comply with Section 3.05, such
expenses including, without limitation, legal fees and
expenses, and, regardless of when incurred, any
unreimbursed amount expended by the Company pursuant to
Section 3.03 or Section 3.06 respecting the related
Mortgage Loan and any related and unreimbursed Property
Protection Expenses.
Liquidation Proceeds: Cash (other than Insurance
Proceeds) received in connection with the liquidation of
any defaulted Mortgage Loan whether through judicial
foreclosure or otherwise.
Loan-to-Value Ratio: With respect to each Mortgage
Loan, the original principal amount of such Mortgage Loan,
divided by the Original Value of the related Mortgaged
Property.
London Banking Day: Any day on which banks are open
for dealing in foreign currency and exchange in London,
England.
Loss Allocation Limitation: As defined in Section
4.03(g).
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MLCC: Merrill Lynch Credit Corporation, or its
successor in interest.
Monthly Advance: With respect to any Distribution
Date, the aggregate of the advances required to be made by
the Company pursuant to Section 4.04(a) (or by the Trustee
pursuant to Section 4.04(b)) on such Distribution Date, the
amount of any such Monthly Advance being equal to (a) the
aggregate of payments of principal and interest (adjusted
to the related Remittance Rate) on the Mortgage Loans that
were due on the related Due Date, without regard to any
arrangements entered into by the Company with the related
Mortgagors pursuant to Section 3.02(a)(ii), and delinquent
as of the close of business on the Business Day next
preceding the related Determination Date, less (b) the
amount of any such payments which the Company or the
Trustee, as applicable, in its reasonable judgment believes
will not be ultimately recoverable by it either out of late
payments by the Mortgagor, Net Liquidation Proceeds,
Insurance Proceeds, REO Proceeds or otherwise. With respect
to any Mortgage Loan, the portion of any such advance or
advances made with respect thereto.
Monthly Payment: The scheduled monthly payment on a
Mortgage Loan for any month allocable to principal or
interest on such Mortgage Loan.
Moody's: Moody's Investors Service, Inc. and its
successors.
Mortgage: The mortgage or deed of trust creating a
first lien on a fee simple interest or leasehold estate in
real property securing a Mortgage Note.
Mortgage 100SM Loan: A Mortgage Loan identified on
Exhibit N hereof that has a Loan-to-Value Ratio at
origination in excess of 80.00% and that is secured by
Additional Collateral and does not have a Primary Insurance
Policy.
Mortgage File: The mortgage documents listed in
Section 2.01 pertaining to a particular Mortgage Loan and
any additional documents required to be added to such
documents pursuant to this Agreement.
Mortgage Loan Payment Record: The record maintained by
the Company pursuant to Section 3.02(b).
Mortgage Loan Schedule: As of any date of
determination, the schedule of Mortgage Loans included in
the Trust Fund. The initial schedule of Mortgage Loans as
of the Cut-off Date is attached hereto as Exhibit C.
Mortgage Loans: As of any date of determination, each
of the mortgage loans identified on the Mortgage Loan
Schedule (as amended pursuant to Section 2.03(b)) delivered
and assigned to the Trustee pursuant to Section 2.01 or
2.03(b), and not theretofore released from the Trust Fund
by the Trustee.
Mortgage Note: With respect to any Mortgage Loan, the
note or other evidence of indebtedness (which may consist
of a Confirmatory Mortgage Note) evidencing the
indebtedness of a Mortgagor under such Mortgage Loan.
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Mortgage Pool: The aggregate of the Mortgage Loans
identified in the Mortgage Loan Schedule.
Mortgage Rate: The per annum rate of interest borne by
a Mortgage Loan as set forth in the related Mortgage Note.
Mortgaged Property: The underlying real property
securing the Mortgage Loan, or with respect to a
Cooperative Loan, the related Proprietary Lease and
Cooperative Stock.
Mortgagor: With respect to any Mortgage Loan, each
obligor on the related Mortgage Note.
Net Interest Shortfall: With respect to any
Distribution Date, the excess, if any, of the aggregate
Interest Shortfalls allocable to the Certificates (as
determined in accordance with the definition of Interest
Shortfall) for such Distribution Date over any Compensating
Interest Payment for such date.
Net Liquidation Proceeds: As to any Liquidated
Mortgage Loan, the sum of (i) any Liquidation Proceeds
therefor less the related Liquidation Expenses, and (ii)
any Insurance Proceeds therefor, other than any such
Insurance Proceeds applied to the restoration of the
related Mortgaged Property.
Net Mortgage Rate: With respect to any Mortgage Loan,
the related Mortgage Rate less the applicable Base
Servicing Fee Rate.
Non-Book-Entry Certificate: Any Certificate other than
a Book-Entry Certificate.
Non-Credit Loss: Any Fraud Loss, Special Hazard Loss
or Deficient Valuation.
Non-Discount Mortgage Loan: Any Mortgage Loan with a
Net Mortgage Rate greater than or equal to 6.50% per annum.
Non-permitted Foreign Holder: As defined in Section
5.02(b).
Non-PO Percentage: As to any Discount Mortgage Loan, a
fraction (expressed as a percentage), the numerator of
which is the Net Mortgage Rate of such Discount Mortgage
Loan and the denominator of which is 6.50%. As to any
Non-Discount Mortgage Loan, 100%.
Non-Primary Residence Loan: Any Mortgage Loan secured
by a Mortgaged Property that is (on the basis of
representations made by the Mortgagors at origination) a
second home or investor-owned property.
Nonrecoverable Advance: All or any portion of any
Monthly Advance or Monthly Advances previously made by the
Company (or the Trustee) which, in the reasonable judgment
of the Company (or, as applicable, the Trustee) will not be
ultimately recoverable from related Net Liquidation
Proceeds, Insurance Proceeds, REO
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Proceeds or otherwise. The determination by the Company
that it has made a Nonrecoverable Advance or that any
advance, if made, would constitute a Nonrecoverable
Advance, shall be evidenced by an Officer's Certificate of
the Company delivered to the Trustee and detailing the
reasons for such determination.
Non-U.S. Person: As defined in Section 4.02(c).
Notional Certificate: None.
Notional Component: None.
Notional Component Balance: None.
Notional Principal Balance: As to any Distribution
Date and any Notional Certificate, such Notional
Certificate's Percentage Interest of the aggregate Notional
Principal Balance of the Notional Certificates of the same
Class for such Distribution Date.
Officer's Certificate: A certificate signed by the
President, a Senior Vice President or a Vice President of
the Company and delivered to the Trustee.
Opinion of Counsel: A written opinion of counsel, who
may be counsel for the Company; provided, however, that any
Opinion of Counsel with respect to the interpretation or
application of the REMIC Provisions or the status of an
account as an Eligible Account shall be the opinion of
independent counsel satisfactory to the Trustee.
Original Subordinate Principal Balance: As set forth
in the definition of Senior Prepayment Percentage.
Original Value: The value of the property underlying a
Mortgage Loan based, in the case of the purchase of the
underlying Mortgaged Property, on the lower of an appraisal
satisfactory to the Company or the sales price of such
property or, in the case of a refinancing, on an appraisal
satisfactory to the Company.
Outstanding Mortgage Loan: With respect to any Due
Date, a Mortgage Loan which, prior to such Due Date, was
not the subject of a Principal Prepayment in full, did not
become a Liquidated Mortgage Loan and was not purchased
pursuant to Section 2.02, 2.03(a) or 3.16 or replaced
pursuant to Section 2.03(b).
Outstanding Non-Discount Mortgage Loan: Any
Outstanding Mortgage Loan that is a Non-Discount Mortgage
Loan.
PAC Balance: As to any Distribution Date and any Class
of PAC Certificates and any PAC Component, the balance
designated as such for such Distribution Date and such
Class or Component as set forth in the Principal Balance
Schedules.
PAC Certificate: None.
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PAC Component: None.
Parent PowerSM Loan: A Mortgage Loan identified on
Exhibit N hereto that has a Loan-to-Value Ratio at
origination in excess of 80.00%, that is supported by
Additional Collateral and does not have a Primary Insurance
Policy.
Pay-out Rate: With respect to any Class of
Certificates (other than any Class of Principal Only
Certificates) and any Distribution Date, the rate at which
interest is distributed on such Class on such Distribution
Date and which is equal to a fraction (expressed as an
annualized percentage) the numerator of which is the
Accrued Certificate Interest for such Class and
Distribution Date, and the denominator of which is the
Class Certificate Principal Balance (or, in the case of the
Notional Certificates, the Notional Principal Balance) of
such Class immediately prior to such Distribution Date.
Percentage Interest: With respect to any Certificate,
the percentage interest in the undivided beneficial
ownership interest in the Trust Fund evidenced by
Certificates of the same Class as such Certificate. With
respect to any Certificate, the Percentage Interest
evidenced thereby shall equal the Initial Certificate
Principal Balance (or, in the case of a Notional
Certificate, the initial Notional Principal Balance)
thereof divided by the aggregate Initial Certificate
Principal Balance (or, in the case of a Notional
Certificate, the aggregate initial Notional Principal
Balance) of all Certificates of the same Class.
Permitted Investments: One or more of the following;
provided, however, that no such Permitted Investment may
mature later than the Business Day preceding the
Distribution Date after such investment except as otherwise
provided in Section 3.02(e) hereof, provided, further, that
such investments qualify as "cash flow investments" as
defined in section 860G(a)(6) of the Code:
(i) obligations of, or guaranteed as to timely receipt
of principal and interest by, the United States or any
agency or instrumentality thereof when such obligations are
backed by the full faith and credit of the United States;
(ii) repurchase agreements on obligations specified in
clause (i) provided that the unsecured obligations of the
party agreeing to repurchase such obligations are at the
time rated by each Rating Agency in the highest long-term
rating category;
(iii) federal funds, certificates of deposit, time
deposits and banker's acceptances, of any U.S. depository
institution or trust company incorporated under the laws of
the United States or any state provided that the debt
obligations of such depository institution or trust company
at the date of acquisition thereof have been rated by each
Rating Agency in the highest long-term rating category;
(iv) commercial paper of any corporation incorporated
under the laws of the United States or any state thereof
which on the date of acquisition has the highest short term
rating of each Rating Agency; and
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(v) other obligations or securities that are
acceptable to each Rating Agency as a Permitted Investment
hereunder and will not, as evidenced in writing, result in
a reduction or withdrawal in the then current rating of the
Certificates.
Notwithstanding the foregoing, Permitted Investments
shall not include "stripped securities" and investments
which contractually may return less than the purchase price
therefor.
Person: Any legal person, including any individual,
corporation, partnership, limited liability company, joint
venture, association, joint-stock company, trust,
unincorporated organization or government or any agency or
political subdivision thereof.
Plan: Any Person which is an employee benefit plan
subject to ERISA or a plan subject to section 4975 of the
Code.
Pledged Asset Loan-to-Value Ratio: With respect to any
Pledged Asset Mortgage Loan, (i) the original loan amount
less the portion of any required Additional Collateral
which is covered by the Surety Bond, divided by (ii) the
Original Value of the related Mortgaged Property.
Pledged Asset Mortgage Loan: Each Mortgage 100SM Loan
and Parent PowerSM Loan purchased from MLCC that is
supported by Additional Collateral and identified on
Exhibit N hereto.
Pledged Asset Mortgage Servicing Agreement: The
Amended and Restated Pledged Asset Mortgage Servicing
Agreement, dated as of June 2, 1998 between MLCC and the
Company.
PO Percentage: As to any Discount Mortgage Loan, a
fraction (expressed as a percentage), the numerator of
which is the excess of 6.50% over the Net Mortgage Rate of
such Discount Mortgage Loan and the denominator of which is
6.50%. As to any Non-Discount Mortgage Loan, 0%.
PO Principal Distribution Amount: As to any
Distribution Date, an amount equal to the sum of the
applicable PO Percentage of:
(i) the principal portion of each Monthly Payment
due on the related Due Date on each Outstanding Mortgage
Loan as of such Due Date as specified in the amortization
schedule at the time applicable thereto (after adjustments
for previous Principal Prepayments and the principal
portion of Debt Service Reductions subsequent to the
Bankruptcy Coverage Termination Date but before any
adjustment to such amortization schedule by reason of any
bankruptcy (except as aforesaid) or similar proceeding or
any moratorium or similar waiver or grace period);
(ii) all principal prepayments in part received during
the related Prepayment Period, together with the Scheduled
Principal Balance (as reduced by any Deficient Valuation
occurring on or prior to the Bankruptcy Coverage
Termination Date) of each
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Mortgage Loan which was the subject of a Voluntary
Principal Prepayment in full during the related Prepayment
Period;
(iii) the sum of (A) all Net Liquidation Proceeds
allocable to principal received in respect of each Mortgage
Loan that became a Liquidated Mortgage Loan during the
related Prepayment Period (other than Mortgage Loans
described in clause (B)) and (B) the principal balance of
each Mortgage Loan purchased by an insurer from the Trustee
pursuant to the related Primary Insurance Policy, in each
case during the related Prepayment Period;
(iv) the Scheduled Principal Balance (as reduced by
any Deficient Valuation occurring on or prior to the
Bankruptcy Coverage Termination Date) of each Mortgage Loan
which was purchased on such Distribution Date pursuant to
Section 2.02, 2.03(a) or 3.16; and
(v) the Substitution Amount for any Mortgage Loan
substituted during the month of such Distribution Date; for
purposes of this clause (v), the definition of
"Substitution Amount" shall be modified to reduce the
Scheduled Principal Balance of the Mortgage Loan that is
substituted for by any Deficient Valuation occurring on or
prior to the Bankruptcy Coverage Termination Date.
For purposes of clause (ii) above, a Voluntary
Principal Prepayment in full with respect to a Mortgage
Loan serviced by a Primary Servicer shall be deemed to have
been received when the Company, as servicer, receives
notice thereof.
Pool Scheduled Principal Balance: With respect to any
Distribution Date, the aggregate Scheduled Principal
Balance of all the Mortgage Loans that were Outstanding
Mortgage Loans on the Due Date in the month next preceding
the month of such Distribution Date (or, in the case of the
first Distribution Date, the Cut-off Date; or, if so
specified, such other date).
Prepayment Assumption: The assumed fixed schedule of
prepayments on a pool of new mortgage loans with such
schedule given as a monthly sequence of prepayment rates,
expressed as annualized percent values. These values start
at 0.2% per year in the first month, increase by 0.2% per
year in each succeeding month until month 30, ending at
6.0% per year. At such time, the rate remains constant at
6.0% per year for the balance of the remaining term.
Multiples of the Prepayment Assumption are calculated from
this prepayment rate series.
Prepayment Assumption Multiple: 275% of the Prepayment
Assumption.
Prepayment Distribution Trigger: As of any
Distribution Date and as to each Class of Class B
Certificates, the related Prepayment Distribution Trigger
is satisfied if (x) the fraction, expressed as a
percentage, the numerator of which is the aggregate Class
Certificate Principal Balance of such Class and each Class
subordinate thereto, if any, on such Distribution Date, and
the denominator of which is the Pool Scheduled Principal
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Balance for such Distribution Date, equals or exceeds (y)
such percentage calculated as of the Closing Date.
Prepayment Interest Excess: As to any Voluntary
Principal Prepayment in full received from the first day
through the fifteenth day of any calendar month (other than
the calendar month in which the Cut-off Date occurs), all
amounts paid in respect of interest on such Principal
Prepayment. For purposes of determining the amount of
Prepayment Interest Excess for any month, a Voluntary
Principal Prepayment in full with respect to a Mortgage
Loan serviced by a Primary Servicer shall be deemed to have
been received when the Company, as servicer, receives
notice thereof. All Prepayment Interest Excess shall be
retained by the Company, as servicer, as additional
servicing compensation.
Prepayment Period: With respect to any Distribution
Date and any Voluntary Principal Prepayment in part or
other Principal Prepayment other than a Voluntary Principal
Prepayment in full, the calendar month preceding the month
of such Distribution Date; with respect to any Distribution
Date and any Voluntary Principal Prepayment in full, the
period beginning on the sixteenth day of the calendar month
preceding the month of such Distribution Date (or, in the
case of the first Distribution Date, beginning on the
Cut-off Date) and ending on the fifteenth day of the month
in which such Distribution Date occurs.
Primary Insurance Policy: The certificate of private
mortgage insurance relating to a particular Mortgage Loan,
or an electronic screen print setting forth the information
contained in such certificate of private mortgage
insurance, including, without limitation, information
relating to the name of the mortgage insurance carrier, the
certificate number, the loan amount, the property address,
the effective date of coverage, the amount of coverage and
the expiration date of the policy. Each such policy covers
defaults by the Mortgagor, which coverage shall equal the
portion of the unpaid principal balance of the related
Mortgage Loan that exceeds 75% (or such lesser coverage
required or permitted by FNMA or FHLMC) of the Original
Value of the underlying Mortgaged Property.
Primary Servicer: Any servicer with which the Company
has entered into a servicing agreement, as described in
Section 3.01(f).
Principal Balance Schedules: Any principal balance
schedules attached hereto, if applicable, as Exhibit B,
setting forth the PAC Balances of any PAC Certificates and
PAC Components, the TAC Balances of any TAC Certificates
and TAC Components, and the Scheduled Balances of any
Scheduled Certificates and Scheduled Components.
Principal Only Certificate: Any Class PO Certificate.
Principal Only Component: None.
Principal Prepayment: Any payment or other recovery of
principal on a Mortgage Loan (including, for this purpose,
any refinancing permitted by Section 3.01 and any REO
Proceeds treated as such pursuant to Section 3.08(b)) which
is received in advance
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of its scheduled Due Date and is not accompanied by an
amount of interest representing scheduled interest for any
month subsequent to the month of prepayment.
Private Placement Memorandum: The private placement
memorandum relating to the Restricted Junior Certificates
dated October 22, 1998.
Prohibited Transaction Exemption: U.S. Department of
Labor Prohibited Transaction Exemption 90-36, 55 Fed. Reg.
25903, June 25, 1990.
Property Protection Expenses: With respect to any
Mortgage Loan, expenses paid or incurred by or for the
account of the Company in accordance with the related
Mortgage for (a) real estate property taxes and property
repair, replacement, protection and preservation expenses
and (b) similar expenses reasonably paid or incurred to
preserve or protect the value of such Mortgage to the
extent the Company is not reimbursed therefor pursuant to
the Primary Insurance Policy, if any, or any other
insurance policy with respect thereto.
Proprietary Lease: With respect to a Cooperative Loan,
the proprietary lease(s) or occupancy agreement with
respect to the Cooperative Apartment occupied by the
Mortgagor and relating to the related Cooperative Stock,
which lease or agreement confers an exclusive right to the
holder of such Cooperative Stock to occupy such apartment.
Purchase Price: With respect to any Mortgage Loan
required or permitted to be purchased hereunder from the
Trust Fund, an amount equal to 100% of the unpaid principal
balance thereof plus interest thereon at the applicable
Mortgage Rate from the date to which interest was last paid
to the first day of the month in which such purchase price
is to be distributed; provided, however, that if the
Company is the servicer hereunder, such purchase price
shall be net of unreimbursed Monthly Advances with respect
to such Mortgage Loan, and the interest component of the
Purchase Price may be computed on the basis of the
Remittance Rate for such Mortgage Loan.
QIB: A "qualified institutional buyer" as defined in
Rule 144A under the Securities Act of 1933, as amended.
Rating Agency: Any statistical credit rating agency,
or its successor, that rated any of the Certificates at the
request of the Company at the time of the initial issuance
of the Certificates. If such agency or a successor is no
longer in existence, "Rating Agency" shall be such
statistical credit rating agency, or other comparable
Person, designated by the Company, notice of which
designation shall be given to the Trustee. References
herein to the two highest long-term rating categories of a
Rating Agency shall mean such ratings without any
modifiers. As of the date of the initial issuance of the
Certificates, the Rating Agencies are Fitch and S&P; except
that for purposes of the Junior Certificates, other than
the Class B5 Certificates, S&P shall be the sole Rating
Agency. The Class B5 Certificates are issued without
ratings.
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Realized Loss: Any (i) Deficient Valuation or (ii) as
to any Liquidated Mortgage Loan, (x) the unpaid principal
balance of such Liquidated Mortgage Loan plus accrued and
unpaid interest thereon at the Net Mortgage Rate through
the last day of the month of such liquidation less (y) the
related Liquidation Proceeds and Insurance Proceeds (as
reduced by the related Liquidation Expenses).
Record Date: The last Business Day of the month
immediately preceding the month of the related Distribution
Date.
Reference Banks: As defined in Section 5.08.
Relief Act: The Soldiers' and Sailors' Civil Relief
Act of 1940, as amended.
Relief Act Mortgage Loan: Any Mortgage Loan as to
which the Monthly Payment thereof has been reduced due to
the application of the Relief Act.
REMIC: A "real estate mortgage investment conduit"
within the meaning of section 860D of the Code.
REMIC Provisions: Provisions of the federal income tax
law relating to real estate mortgage investment conduits,
which appear at sections 860A through 860G of Part IV of
Subchapter M of Chapter 1 of the Code, and related
provisions, and U.S. Office of the Treasury temporary or
final regulations promulgated thereunder, as the foregoing
may be in effect from time to time, as well as provisions
of applicable state laws.
Remittance Rate: With respect to any Mortgage Loan,
the related Mortgage Rate less the sum of the applicable
Base Servicing Fee Rate and the Supplemental Servicing Fee
Rate.
REO Mortgage Loan: Any Mortgage Loan which is not a
Liquidated Mortgage Loan and as to which the related
Mortgaged Property is held as part of the Trust Fund.
REO Proceeds: Proceeds, net of any related expenses of
the Company, received in respect of any REO Mortgage Loan
(including, without limitation, proceeds from the rental of
the related Mortgaged Property).
Required Surety Payment: With respect to any Pledged
Asset Mortgage Loan that becomes a Liquidated Mortgage
Loan, the lesser of (i) the principal portion of the
Realized Loss with respect to such Mortgage Loan and (ii)
the excess, if any, of (a) the amount of Additional
Collateral required at origination with respect to such
Mortgage Loan which is covered by the Surety Bond over (b)
the net proceeds realized by MLCC from the liquidation of
the related Additional Collateral.
Reserve Fund: None.
Reserve Interest Rate: As defined in Section 5.08.
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Residual Certificate: Any Class R Certificate.
Responsible Officer: When used with respect to the
Trustee, any officer or assistant officer assigned to and
working in the Corporate Trust Department of the Trustee
and, also, with respect to a particular matter, any other
officer to whom such matter is referred because of such
officer's knowledge of and familiarity with the particular
subject.
Restricted Certificate: Any Restricted Junior
Certificate or Class PO Certificate.
Restricted Junior Certificate: Any Class B3, Class B4
or Class B5 Certificate.
S&P: Standard & Poor's Ratings Services, a division of
The McGraw-Hill Companies, Inc., and its successors.
SAIF: The Savings Association Insurance Fund of the
FDIC, or its successor in interest.
Scheduled Balance: As to any Distribution Date and any
Class of Scheduled Certificates and any Scheduled
Component, the balance designated as such for such
Distribution Date and such Class or Component as set forth
in the Principal Balance Schedules.
Scheduled Certificate: None.
Scheduled Component: None.
Scheduled Principal Balance: As to any Mortgage Loan
and Distribution Date, the principal balance of such
Mortgage Loan as of the Due Date in the month next
preceding the month of such Distribution Date (or, if so
specified, such other date) as specified in the
amortization schedule at the time relating to such Mortgage
Loan (before any adjustment to such amortization schedule
by reason of any bankruptcy or similar proceeding or any
moratorium or similar waiver or grace period) after giving
effect to any previous Principal Prepayments, Deficient
Valuations incurred subsequent to the Bankruptcy Coverage
Termination Date, adjustments due to the application of the
Relief Act and the payment of principal due on such Due
Date, irrespective of any delinquency in payment by the
related Mortgagor. As to any Mortgage Loan and the Cut-off
Date, the "unpaid balance" thereof specified in the initial
Mortgage Loan Schedule.
Security Agreement: With respect to a Cooperative
Loan, the agreement creating a security interest in favor
of the originator in the related Cooperative Stock and
Proprietary Lease.
Senior Certificate: Any Certificate other than a
Junior Certificate.
Senior Certificate Principal Balance: As of any
Distribution Date, an amount equal to the sum of the
Certificate Principal Balances of the Senior Certificates
(other than any Class PO Certificates).
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Senior Optimal Principal Amount: As to any
Distribution Date, an amount equal to the sum of:
(i) the Senior Percentage of the applicable Non-PO
Percentage of the principal portion of each Monthly Payment
due on the related Due Date on each Outstanding Mortgage
Loan as of such Due Date as specified in the amortization
schedule at the time applicable thereto (after adjustments
for previous Principal Prepayments and the principal
portion of Debt Service Reductions subsequent to the
Bankruptcy Coverage Termination Date but before any
adjustment to such amortization schedule by reason of any
bankruptcy (except as aforesaid) or similar proceeding or
any moratorium or similar waiver or grace period);
(ii) the Senior Prepayment Percentage of the
applicable Non-PO Percentage of all principal prepayments
in part received during the related Prepayment Period,
together with the Senior Prepayment Percentage of the
applicable Non-PO Percentage of the Scheduled Principal
Balance of each Mortgage Loan which was the subject of a
Voluntary Principal Prepayment in full during the related
Prepayment Period;
(iii) the lesser of (x) the Senior Percentage of the
applicable Non-PO Percentage of the sum of (A) the
Scheduled Principal Balance of each Mortgage Loan that
became a Liquidated Mortgage Loan (other than Mortgage
Loans described in clause (B)) during the related
Prepayment Period and (B) the Scheduled Principal Balance
of each Mortgage Loan that was purchased by an insurer from
the Trustee during the related Prepayment Period pursuant
to the related Primary Insurance Policy, as reduced in each
case by the Senior Percentage of the applicable Non-PO
Percentage of the principal portion of any Excess Losses
(other than Excess Bankruptcy Losses attributable to Debt
Service Reductions), and (y) the Senior Prepayment
Percentage of the applicable Non-PO Percentage of the sum
of (A) all Net Liquidation Proceeds allocable to principal
received in respect of each such Liquidated Mortgage Loan
(other than Mortgage Loans described in clause (B)) and (B)
the principal balance of each such Mortgage Loan purchased
by an insurer from the Trustee pursuant to the related
Primary Insurance Policy, in each case during the related
Prepayment Period;
(iv) the Senior Prepayment Percentage of the
applicable Non-PO Percentage of the Scheduled Principal
Balance of each Mortgage Loan which was purchased on such
Distribution Date pursuant to Section 2.02, 2.03(a) or
3.16; and
(v) the Senior Prepayment Percentage of the applicable
Non-PO Percentage of the Substitution Amount for any
Mortgage Loan substituted during the month of such
Distribution Date.
For purposes of clause (ii) above, a Voluntary
Principal Prepayment in full with respect to a Mortgage
Loan serviced by a Primary Servicer shall be deemed to have
been received when the Company, as servicer, receives
notice thereof.
Senior Percentage: As to any Distribution Date, the
lesser of (i) 100% and (ii) the percentage (carried to six
places rounded up) obtained by dividing the Senior
Certificate
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Principal Balance immediately prior to such Distribution
Date by an amount equal to the sum of the Certificate
Principal Balances of all the Certificates other than any
Class PO Certificates immediately prior to such
Distribution Date.
Senior Prepayment Percentage: For any Distribution
Date occurring prior to the fifth anniversary of the first
Distribution Date, 100%. For any Distribution Date
occurring on or after the fifth anniversary of the first
Distribution Date, an amount as follows:
(i) for any Distribution Date subsequent to October
2003 to and including the Distribution Date in October
2004, the Senior Percentage for such Distribution Date plus
70% of the Junior Percentage for such Distribution Date;
(ii) for any Distribution Date subsequent to October
2004 to and including the Distribution Date in October
2005, the Senior Percentage for such Distribution Date plus
60% of the Junior Percentage for such Distribution Date;
(iii) for any Distribution Date subsequent to October
2005 to and including the Distribution Date in October
2006, the Senior Percentage for such Distribution Date plus
40% of the Junior Percentage for such Distribution Date;
(iv) for any Distribution Date subsequent to October
2006 to and including the Distribution Date in October
2007, the Senior Percentage for such Distribution Date plus
20% of the Junior Percentage for such Distribution Date;
and
(v) for any Distribution Date thereafter, the Senior
Percentage for such Distribution Date.
Notwithstanding the foregoing, if on any Distribution
Date the Senior Percentage exceeds the Senior Percentage as
of the Closing Date, the Senior Prepayment Percentage for
such Distribution Date will equal 100%.
In addition, notwithstanding the foregoing, no
reduction of the Senior Prepayment Percentage below the
level in effect for the most recent prior period as set
forth in clauses (i) through (iv) above shall be effective
on any Distribution Date unless at least one of the
following two tests is satisfied:
Test I: If, as of the last day of the month preceding
such Distribution Date, (i) the aggregate Scheduled
Principal Balance of Mortgage Loans delinquent 60 days or
more (including for this purpose any Mortgage Loans in
foreclosure and REO Mortgage Loans) as a percentage of the
aggregate Class Certificate Principal Balance of the Junior
Certificates as of such date, does not exceed 50%, and (ii)
cumulative Realized Losses with respect to the Mortgage
Loans do not exceed (a) 30% of the aggregate Class
Certificate Principal Balance of the Junior Certificates as
of the Closing Date (the "Original Subordinate Principal
Balance") if such Distribution Date occurs between and
including November 2003 and October 2004, (b) 35% of the
Original Subordinate Principal Balance if such Distribution
Date occurs between and including November 2004 and October
2005, (c) 40% of the Original Subordinate Principal Balance
if such
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Distribution Date occurs between and including November
2005 and October 2006, (d) 45% of the Original Subordinate
Principal Balance if such Distribution Date occurs between
and including November 2006 and October 2007 and (e) 50% of
the Original Subordinate Principal Balance if such
Distribution Date occurs during or after November 2007; or
Test II: If, as of the last day of the month preceding
such Distribution Date, (i) the aggregate Scheduled
Principal Balance of Mortgage Loans delinquent 60 days or
more (including for this purpose any Mortgage Loans in
foreclosure and REO Mortgage Loans) averaged over the last
three months, as a percentage of the aggregate Scheduled
Principal Balance of Mortgage Loans averaged over the last
three months, does not exceed 4%, and (ii) cumulative
Realized Losses with respect to the Mortgage Loans do not
exceed (a) 10% of the Original Subordinate Principal
Balance if such Distribution Date occurs between and
including November 2003 and October 2004, (b) 15% of the
Original Subordinate Principal Balance if such Distribution
Date occurs between and including November 2004 and October
2005, (c) 20% of the Original Subordinate Principal Balance
if such Distribution Date occurs between and including
November 2005 and October 2006, (d) 25% of the Original
Subordinate Principal Balance if such Distribution Date
occurs between and including November 2006 and October
2007, and (e) 30% of the Original Subordinate Principal
Balance if such Distribution Date occurs during or after
November 2007.
Servicer's Certificate: A certificate, completed by
and executed on behalf of the Company by a Servicing
Officer in accordance with Section 4.06, substantially in
the form of Exhibit D hereto or in such other form as the
Company and the Trustee shall agree.
Servicing Fee: As to any Mortgage Loan and
Distribution Date, the sum of (a) the Base Servicing Fee
and (b) the Supplemental Servicing Fee.
Servicing Officer: Any officer of the Company involved
in, or responsible for, the administration and servicing of
the Mortgage Loans whose name appears on a list of
servicing officers attached to an Officer's Certificate
furnished to the Trustee by the Company, as such list may
from time to time be amended.
Single Certificate: A Certificate with an Initial
Certificate Principal Balance, or initial Notional
Principal Balance, of $1,000 or, in the case of a Class of
Certificates issued with an initial Class Certificate
Principal Balance or initial Notional Principal Balance of
less than $1,000, such lesser amount.
Special Hazard Loss: (i) A Realized Loss suffered by a
Mortgaged Property on account of direct physical loss,
exclusive of (a) any loss covered by a hazard policy or a
flood insurance policy required to be maintained in respect
of such Mortgaged Property under Section 3.06 and (b) any
loss caused by or resulting from:
(A) normal wear and tear;
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(B) conversion or other dishonest act on the part
of the Trustee, the Company or any of their agents or
employees; or
(C) errors in design, faulty workmanship or
faulty materials, unless the collapse of the property
or a part thereof ensues;
or (ii) any Realized Loss suffered by the Trust Fund
arising from or related to the presence or suspected
presence of hazardous wastes or hazardous substances on a
Mortgaged Property unless such loss to a Mortgaged Property
is covered by a hazard policy or a flood insurance policy
required to be maintained in respect of such Mortgaged
Property under Section 3.06.
Special Hazard Loss Amount: As of any Distribution
Date, an amount equal to $3,764,519 minus the sum of (i)
the aggregate amount of Special Hazard Losses that would
have been allocated to the Junior Certificates in
accordance with Section 4.03 in the absence of the Loss
Allocation Limitation and (ii) the Adjustment Amount (as
defined below) as most recently calculated. On each
anniversary of the Cut-off Date, the "Adjustment Amount"
shall be equal to the amount, if any, by which the amount
calculated in accordance with the preceding sentence
(without giving effect to the deduction of the Adjustment
Amount for such anniversary) exceeds the lesser of (x) the
greater of (A) the product of the Special Hazard Percentage
for such anniversary multiplied by the outstanding
principal balance of all the Mortgage Loans on the
Distribution Date immediately preceding such anniversary
and (B) twice the outstanding principal balance of the
Mortgage Loan which has the largest outstanding principal
balance on the Distribution Date immediately preceding such
anniversary, and (y) an amount calculated by the Company
and approved by each Rating Agency, which amount shall not
be less than $500,000.
Special Hazard Percentage: As of each anniversary of
the Cut-off Date, the greater of (i) 1.00% and (ii) the
largest percentage obtained by dividing (x) the aggregate
outstanding principal balance (as of the immediately
preceding Distribution Date) of the Mortgage Loans secured
by Mortgaged Properties located in a single, five-digit zip
code area in the State of California by (y) the outstanding
principal balance of all the Mortgage Loans as of the
immediately preceding Distribution Date.
Special Hazard Termination Date: The Distribution Date
upon which the Special Hazard Loss Amount has been reduced
to zero or a negative number (or the Cross-Over Date, if
earlier).
Specified Component: None.
Startup Day: As defined in Section 2.05(b).
Subordinate Certificates: As to any date of
determination, first, the Class B5 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero; second, the Class B4 Certificates until
the Class Certificate Principal Balance thereof has been
reduced to zero; third, the Class B3 Certificates until the
Class Certificate Principal
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Balance thereof has been reduced to zero; fourth, the Class
B2 Certificates until the Class Certificate Principal
Balance thereof has been reduced to zero; fifth, the Class
B1 Certificates until the Class Certificate Principal
Balance thereof has been reduced to zero; and sixth, the
Class M Certificates until the Class Certificate Principal
Balance thereof has been reduced to zero.
Subordinate Certificate Writedown Amount: As to any
Distribution Date, first, any amount distributed to the
Class PO Certificates on such Distribution Date pursuant to
Section 4.01(a)(iv) and second, after giving effect to the
application of clause first above, the amount by which (i)
the sum of the Class Certificate Principal Balances of all
the Certificates (after giving effect to the distribution
of principal and the application of Realized Losses in
reduction of the Certificate Principal Balances of the
related Certificates on such Distribution Date) exceeds
(ii) the Pool Scheduled Principal Balance on the first day
of the month of such Distribution Date less any Deficient
Valuations occurring on or prior to the Bankruptcy Coverage
Termination Date.
Substitution Amount: With respect to any Mortgage Loan
substituted pursuant to Section 2.03(b), the excess of (x)
the Scheduled Principal Balance of the Mortgage Loan that
is substituted for, over (y) the Scheduled Principal
Balance of the related substitute Mortgage Loan, each
balance being determined as of the date of substitution.
Supplemental Servicing Fee: As to any Mortgage Loan
and Distribution Date, an amount equal to the product of
(i) the Scheduled Principal Balance of such Mortgage Loan
as of the Due Date in the preceding calendar month and (ii)
the Supplemental Servicing Fee Rate for such Mortgage Loan.
The Supplemental Servicing Fee for any Distribution Date
shall be reduced by its allocable share of Interest
Shortfalls (as provided in the definition thereof) and any
Interest Losses (in accordance with Section 3.08(d)).
Supplemental Servicing Fee Rate: As to any Mortgage
Loan and Distribution Date, a fixed rate per annum equal to
the excess, if any, of the Net Mortgage Rate thereof over
6.50%.
Surety: Ambac Assurance Corporation, or its successors
in interest.
Surety Bond: The Limited Purpose Surety Bond (Policy
No. AB0039BE), dated February 28, 1996, issued by the
Surety for the benefit of certain beneficiaries, including
the Trustee for the benefit of the Holders of the
Certificates, but only to the extent that such Limited
Purpose Surety Bond covers any Pledged Asset Mortgage
Loans.
TAC Balance: As to any Distribution Date and any Class
of TAC Certificates and any TAC Component, the balance
designated as such for such Distribution Date and such
Class or Component as set forth in the Principal Balance
Schedules attached as Exhibit B hereto.
TAC Certificates: None.
TAC Component: None.
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Trigger Event: Any one or more of the following: (i)
if the Company is not a wholly-owned direct or indirect
subsidiary of General Electric Company or if General
Electric Capital Corporation shall not own (directly or
indirectly) at least two-thirds of the voting shares of the
capital stock of the Company, (ii) if the long-term senior
unsecured rating of General Electric Capital Corporation is
downgraded or withdrawn by Fitch or S&P below their two
highest rating categories, (iii) if General Electric
Capital Corporation is no longer obligated pursuant to the
terms of the support agreement, dated as of October 1,
1990, between General Electric Capital Corporation and the
Company, to maintain the Company's net worth or liquidity
(as such terms are defined therein) at the levels specified
therein, or if such support agreement, including any
amendment thereto, has been breached, terminated or
otherwise held to be unenforceable and (iv) if such support
agreement, including any amendment thereto, is amended or
modified.
Trust Fund: The corpus of the trust created by this
Agreement evidenced by the Certificates and consisting of:
(i) the Mortgage Loans;
(ii) all payments on or collections in respect of such
Mortgage Loans, except as otherwise described in the first
paragraph of Section 2.01, including the proceeds from the
liquidation of any Additional Collateral for any Pledged
Asset Mortgage Loan;
(iii) the obligation of the Company to deposit in the
Certificate Account the amounts required by Sections
3.02(d), 3.02(e) and 4.04(a), and the obligation of the
Trustee to deposit in the Certificate Account any amount
required pursuant to Section 4.04(b);
(iv) the obligation of the Company to purchase or
replace any Defective Mortgage Loan pursuant to Section
2.02 or 2.03;
(v) all property acquired by foreclosure or deed in
lieu of foreclosure with respect to any REO Mortgage Loan;
(vi) the proceeds of the Primary Insurance Policies,
if any, and the hazard insurance policies required by
Section 3.06, in each case, in respect of the Mortgage
Loans, and the Company's interest in the Surety Bond
transferred to the Trustee pursuant to Section 2.01;
(vii) the Certificate Account established pursuant to
Section 3.02(d);
(viii) the Eligible Account or Accounts, if any,
established pursuant to Section 3.02(e);
(ix) any collateral funds established to secure the
obligations of the Holder of the Class B4 and Class B5
Certificates, respectively, under any agreements entered
into between such holder and the Company pursuant to
Section 3.08(e) (which collateral funds will not constitute
a part of any REMIC established hereunder); and
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(x) all rights of the Company as assignee under any
security agreements, pledge agreements or guarantees
relating to the Additional Collateral supporting any
Pledged Asset Mortgage Loan.
Trustee: The institution executing this Agreement as
Trustee, or its successor in interest, or if any successor
trustee is appointed as herein provided, then such
successor trustee so appointed.
Unanticipated Recovery: As defined in Section 4.01(f)
herein.
Uninsured Cause: Any cause of damage to property
subject to a Mortgage such that the complete restoration of
the property is not fully reimbursable by the hazard
insurance policies required to be maintained pursuant to
Section 3.06.
Unpaid Class Interest Shortfall: As to any
Distribution Date and any Class of Certificates (other than
any Class of Principal Only Certificates and any Class
consisting of Specified Components) or any Specified
Component (other than any Principal Only Component), the
amount, if any, by which the aggregate of the Class
Interest Shortfalls for such Class or in respect of such
Specified Component for prior Distribution Dates is in
excess of the aggregate amounts distributed on prior
Distribution Dates to Holders of such Class of Certificates
or in respect of such Specified Component (or added to the
Class Certificate Principal Balance of any Class of Accrual
Certificates, or to the Component Principal Balance of any
Accrual Component constituting a Specified Component)
pursuant to Section 4.01(a)(ii), in the case of the Senior
Certificates (other than any Class of Principal Only
Certificates) and any Specified Component thereof (other
than any Principal Only Component), Section 4.01(a)(vi), in
the case of the Class M Certificates, Section 4.01(a)(ix),
in the case of the Class B1 Certificates, Section
4.01(a)(xii), in the case of the Class B2 Certificates,
Section 4.01(a)(xv), in the case of the Class B3
Certificates, Section 4.01(a)(xviii), in the case of the
Class B4 Certificates, and Section 4.01(a)(xxi), in the
case of the Class B5 Certificates. As to any Class of
Certificates consisting of Specified Components and any
Distribution Date, the sum of the Unpaid Class Interest
Shortfalls for the Specified Components thereof on such
date.
Voluntary Principal Prepayment: With respect to any
Distribution Date, any prepayment of principal received
from the related Mortgagor on a Mortgage Loan.
Voting Rights: The portion of the voting rights of all
the Certificates that is allocated to any Certificate for
purposes of the voting provisions of Section 10.01. Voting
Rights shall be allocated among the Classes (and among the
Certificates within each Class of Certificates) in
proportion to their Class Certificate Principal Balances
(or Certificate Principal Balances or Notional Principal
Balances), as the case may be.
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ARTICLE II
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES
Section 2.01. Conveyance of Mortgage Loans. (a) The
Company, concurrently with the execution and delivery of this
Agreement, does hereby transfer, assign, set-over and otherwise
convey to the Trustee without recourse (except as provided
herein) all the right, title and interest of the Company in and
to the Mortgage Loans, including all interest and principal
received by the Company on or with respect to the Mortgage Loans
(other than payments of principal and interest due and payable on
the Mortgage Loans on or before, and all Principal Prepayments
received before, the Cut-off Date).
In addition, with respect to any Pledged Asset
Mortgage Loan, the Company does hereby transfer, assign, set-over
and otherwise convey to the Trustee without recourse (except as
provided herein) (i) its rights as assignee under any security
agreements, pledge agreements or guarantees relating to the
Additional Collateral supporting any Pledged Asset Mortgage Loan,
(ii) its security interest in and to any Additional Collateral,
(iii) its right to receive payments in respect of any Pledged
Asset Mortgage Loan pursuant to the Pledged Asset Mortgage
Servicing Agreement, and (iv) its rights as beneficiary under the
Surety Bond in respect of any Pledged Asset Mortgage Loan.
(b) In connection with such transfer and assignment, the
Company does hereby deliver to the Trustee the following
documents or instruments with respect to:
(1) Each Mortgage Loan (other than any Cooperative Loan
or Designated Loan) so transferred and assigned:
(i) The Mortgage Note, endorsed without recourse
in blank by the Company, including all intervening
endorsements showing a complete chain of endorsement
from the originator to the Company; provided, however,
that if such Mortgage Note is a Confirmatory Mortgage
Note, such Confirmatory Mortgage Note may be payable
directly to the Company or may show a complete chain of
endorsement from the named payee to the Company;
(ii) Any assumption and modification agreement;
(iii) An assignment in recordable form (which may
be included in a blanket assignment or assignments) of
the Mortgage to the Trustee; and
(2) Each Cooperative Loan (other than a Designated
Loan) so transferred and assigned:
(i) The Mortgage Note, endorsed without recourse
in blank by the Company and showing an unbroken chain
of endorsements from the originator to the Company;
provided, however, that if such Mortgage Note is a
Confirmatory Mortgage Note, such Confirmatory Mortgage
Note may be payable directly to the Company or may show
a complete chain of endorsement from the named payee to
the Company;
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(ii) A counterpart of the Proprietary Lease and
the Assignment of Proprietary Lease executed in blank
or to the originator of the Cooperative Loan;
(iii) The related Cooperative Stock Certificate,
together with an undated stock power (or other similar
instrument) executed in blank;
(iv) A counterpart of the recognition agreement by
the Cooperative of the interests of the mortgagee with
respect to the related Cooperative Loan;
(v) The Security Agreement;
(vi) Copies of the original UCC-1 financing
statement, and any continuation statements, filed by
the originator of such Cooperative Loan as secured
party, each with evidence of recording thereof,
evidencing the interest of the originator in the
Cooperative Stock and the Proprietary Lease;
(vii) If applicable, copies of the UCC-3
assignments of the security interest described in
clause (vi) above, sent to the appropriate public
office for filing, showing an unbroken chain of title
from the originator to the Company, evidencing the
security interest of the originator in the Cooperative
Stock and the Proprietary Lease;
(viii) An executed assignment (which may be a
blanket assignment for all Cooperative Loans) of the
interest of the Company in the Security Agreement,
Assignment of Proprietary Lease and the recognition
agreement described in clause (iv) above, showing an
unbroken chain of title from the originator to the
Trustee; and
(ix) A UCC-3 assignment from the Company to the
Trustee of the security interest described in clause
(vi) above, in form suitable for filing, otherwise
complete except for filing information regarding the
original UCC-1 if unavailable (which may be included in
a blanket assignment to the Trustee).
In instances where a completed assignment of the
Mortgage in recordable form cannot be delivered by the Company to
the Trustee in accordance with Section 2.01(b)(1)(iii) prior to
or concurrently with the execution and delivery of this
Agreement, due to a delay in connection with recording of the
Mortgage, the Company may, in lieu of delivering the completed
assignment in recordable form, deliver to the Trustee the
assignment in such form, otherwise complete except for recording
information.
(3) With respect to each Designated Loan, the Company
does hereby deliver to the Trustee the Designated Loan
Closing Documents.
(c) In connection with each Mortgage Loan transferred and
assigned to the Trustee, the Company shall deliver to the Trustee
the following documents or instruments as promptly as
practicable, but in any event within 30 days, after receipt by
the Company of all such documents and instruments for all of the
outstanding Mortgage Loans:
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(i) the Mortgage with evidence of recording
indicated thereon (other than with respect to a
Cooperative Loan);
(ii) a copy of the title insurance policy (other
than with respect to a Cooperative Loan);
(iii) with respect to any Mortgage that has been
assigned to the Company, the related recorded
intervening assignment or assignments of Mortgage,
showing a complete chain of assignment from the
originator to the Company (other than with respect to a
Cooperative Loan); and
(iv) with respect to any Cooperative Loan that has
been assigned to the Company, the related filed
intervening UCC-3 financing statements (not previously
delivered pursuant to Section 2.01(b)(2)(vii)), showing
a complete chain of assignment from the named
originator to the Company.
Pending such delivery, the Company shall retain in its files (a)
copies of the documents described in clauses (i) and (iii) of the
preceding sentence, without evidence of recording thereon, and
(b) title insurance binders with respect to the Mortgage Loans
(other than with respect to a Cooperative Loan). The Company
shall also retain in its files evidence of any primary mortgage
insurance relating to the Mortgage Loans during the period when
the related insurance is in force. Such evidence shall consist,
for each Mortgage Loan, of a certificate of private mortgage
insurance relating to such Mortgage Loan or an electronic screen
print setting forth the information contained in such certificate
of private mortgage insurance, including, without limitation,
information relating to the name of the mortgage insurance
carrier, the certificate number, the loan amount, the property
address, the effective date of coverage, the amount of coverage
and the expiration date of the policy. (The copies of the
Mortgage, intervening assignments of Mortgage, if any, title
insurance binder and the Primary Insurance Policy, if any,
described in the second and third preceding sentences are
collectively referred to herein as the "Document File" with
respect to each Mortgage Loan.) The Company shall advise the
Trustee in writing if such delivery to the Trustee shall not have
occurred on or before the first anniversary of the Closing Date.
The Company shall promptly furnish to the Trustee the documents
included in the Document Files (other than any such documents
previously delivered to the Trustee as originals or copies)
either (a) upon the written request of the Trustee or (b) when
the Company or the Trustee obtains actual notice or knowledge of
a Trigger Event. The Trustee shall have no obligation to request
delivery of the Document Files unless a Responsible Officer of
the Trustee has actual notice or knowledge of the occurrence of a
Trigger Event.
In the case of Mortgage Loans which have been prepaid
in full after the Cut-off Date and prior to the date of execution
and delivery of this Agreement, the Company, in lieu of
delivering the above documents to the Trustee, herewith delivers
to the Trustee a certification of a Servicing Officer of the
nature set forth in Section 3.09.
(d) The Company shall not be required to record the
assignments of the Mortgages referred to in Section
2.01(b)(1)(iii) or file the UCC-3 assignments referred to in
Section 2.01(b)(2)(ix) to the Trustee unless the Company or the
Trustee obtains actual notice or knowledge of the occurrence of
any Trigger Event; provided, however, that such recording or
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filing shall not be required if the Company delivers to the
Trustee a letter from each Rating Agency to the effect that the
failure to take such action will not cause such Rating Agency to
reduce or withdraw its then current ratings of the Certificates.
The party obtaining actual notice or knowledge of any of such
events shall give the other party prompt written notice thereof.
For purposes of the foregoing (as well as for purposes of
determining whether the Company shall be required to deliver the
Document Files to the Trustee following the occurrence of a
Trigger Event), the Company shall be deemed to have knowledge of
any such downgrading referred to in the definition of Trigger
Event if, in the exercise of reasonable diligence, the Company
has or should have had knowledge thereof. As promptly as
practicable subsequent to the Company's delivery or receipt of
such written notice, as the case may be, the Company shall insert
the recording or filing information in the assignments of the
Mortgages or UCC-3 assignments to the Trustee and shall cause the
same to be recorded or filed, at the Company's expense, in the
appropriate public office for real property records or UCC
financing statements, except that the Company need not cause to
be so completed and recorded any assignment of mortgage which
relates to a Mortgage Loan secured by property in a jurisdiction
under the laws of which, on the basis of an Opinion of Counsel
reasonably satisfactory to the Trustee and satisfactory to each
Rating Agency (as evidenced in writing), recordation of such
assignment is not necessary to protect the Trustee against
discharge of such Mortgage Loan by the Company or any valid
assertion that any Person other than the Trustee has title to or
any rights in such Mortgage Loan. In the event that the Company
fails or refuses to record or file the assignment of Mortgages or
UCC-3 financing statement in the circumstances provided above,
the Trustee shall record or cause to be recorded or filed such
assignment or UCC-3 financing statement at the expense of the
Company. In connection with any such recording or filing, the
Company shall furnish such documents as may be reasonably
necessary to accomplish such recording or filing. Notwithstanding
the foregoing, at any time the Company may record or file, or
cause to be recorded or filed, the assignments of Mortgages or
UCC-3 financing statement at the expense of the Company.
Section 2.02. Acceptance by Trustee. Subject to the
examination hereinafter provided, the Trustee acknowledges
receipt of the Mortgage Notes, the assignments of the Mortgages
to the Trustee, the assumption and modification agreements, if
any, the documents specified in Section 2.01(b)(2) (subject to
any permitted delayed delivery of the documents described in
Section 2.01(c)(iv)), and the Designated Loan Closing Documents,
if any, delivered pursuant to Section 2.01, and declares that the
Trustee holds and will hold such documents and each other
document delivered to it pursuant to Section 2.01 in trust, upon
the trusts herein set forth, for the use and benefit of all
present and future Certificateholders. The Trustee agrees, for
the benefit of Certificateholders, to review each Mortgage File
within 45 days after (i) the execution and delivery of this
Agreement, in the case of the Mortgage Notes, the assignments of
the Mortgages to the Trustee, the assumption and modification
agreements, if any, the documents specified in Section 2.01(b)(2)
(subject to any permitted delayed delivery of the documents
described in Section 2.01(c)(iv)), and the Designated Loan
Closing Documents, if any, (ii) delivery to the Trustee after the
Closing Date of the Mortgage Notes and the assumption and
modification agreements, if any, with respect to each Designated
Loan, and (iii) delivery of the recorded Mortgages, title
insurance policies, recorded intervening assignments of Mortgage,
if any, and filed intervening UCC-3 financing statements, if any,
with respect to any Cooperative Loan to ascertain that all
required documents set forth in Section 2.01 have been executed,
received and
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recorded, if applicable, and that such documents relate to the
Mortgage Loans identified in Exhibit C hereto. In performing such
examination, the Trustee may conclusively assume the due
execution and genuineness of any such document and the
genuineness of any signature thereon. It is understood that the
scope of the Trustee's examination of the Mortgage Files is
limited solely to confirming, after receipt of the documents
listed in Section 2.01, that such documents have been executed,
received and recorded, if applicable, and relate to the Mortgage
Loans identified in Exhibit C to this Agreement. If in the course
of such review the Trustee finds (1) that any document required
to be delivered as aforesaid has not been delivered, or (2) any
such document has been mutilated, defaced or physically altered
without the borrower's authorization or approval, or (3) based
upon its examination of such documents, the information with
respect to any Mortgage Loan set forth on Exhibit C is not
accurate, the Trustee shall promptly so notify the Company in
writing, which shall have a period of 60 days after receipt of
such notice to correct or cure any such defect. The Company
hereby covenants and agrees that, if any such material defect
cannot be corrected or cured, the Company will on a Distribution
Date which is not later than the first Distribution Date which is
more than ten days after the end of such 60-day period repurchase
the related Mortgage Loan from the Trustee at the Purchase Price
therefor or replace such Mortgage Loan pursuant to Section
2.03(b); provided, however, that if the defect (or breach
pursuant to Section 2.03(a)) is one that, had it been discovered
before the Startup Day, would have prevented the Mortgage Loan
from being a "qualified mortgage" within the meaning of the REMIC
Provisions, such defect or breach shall be cured, or the related
Mortgage Loan shall be repurchased or replaced, on a Distribution
Date which falls within 90 days of the date of discovery of such
defect or breach. The Purchase Price for the repurchased Mortgage
Loan, or any amount required in respect of a substitution
pursuant to Section 2.03(b), shall be deposited by the Company in
the Certificate Account pursuant to Section 3.02(d) on the
Business Day prior to the applicable Distribution Date and, upon
receipt by the Trustee of written notification of such deposit
signed by a Servicing Officer, the Trustee shall release or cause
to be released to the Company the related Mortgage File and shall
execute and deliver or cause to be executed and delivered such
instruments of transfer or assignment, in each case without
recourse, as shall be necessary to vest in the Company any
Mortgage Loan released pursuant hereto. It is understood and
agreed that the obligation of the Company to repurchase or
replace any Mortgage Loan as to which a material defect in a
constituent document exists shall constitute the sole remedy
respecting such defect available to Certificateholders or the
Trustee on behalf of Certificateholders.
Upon receipt by the Trustee of the Mortgage Note with
respect to a Designated Loan that is not defective in accordance
with the fifth sentence of the preceding paragraph, the related
Lost Note Affidavit delivered pursuant to Section 2.01 shall be
void and the Trustee shall return it to the Company.
Section 2.03. Representations and Warranties of the
Company; Mortgage Loan Repurchase. (a) The Company hereby
represents and warrants to the Trustee that:
(i) The information set forth in Exhibit C hereto
was true and correct in all material respects at the
date or dates respecting which such information is
furnished;
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(ii) As of the date of the initial issuance of the
Certificates, other than with respect to Cooperative
Loans, each Mortgage is a valid and enforceable first
lien on the property securing the related Mortgage Note
subject only to (a) the lien of current real property
taxes and assessments, (b) covenants, conditions and
restrictions, rights of way, easements and other
matters of public record as of the date of recording of
such Mortgage, such exceptions appearing of record
being acceptable to mortgage lending institutions
generally in the area wherein the property subject to
the Mortgage is located or specifically reflected in
the appraisal obtained in connection with the
origination of the related Mortgage Loan obtained by
the Company and (c) other matters to which like
properties are commonly subject which do not materially
interfere with the benefits of the security intended to
be provided by such Mortgage;
(iii) Immediately prior to the transfer and
assignment herein contemplated, the Company had good
title to, and was the sole owner of, each Mortgage Loan
and all action had been taken to obtain good record
title to each related Mortgage. Each Mortgage Loan has
been transferred free and clear of any liens, claims
and encumbrances;
(iv) As of the date of the initial issuance of the
Certificates, no payment of principal of or interest on
or in respect of any Mortgage Loan is 30 or more days
past due and none of the Mortgage Loans have been past
due 30 or more days more than once during the preceding
12 months;
(v) As of the date of the initial issuance of the
Certificates, other than with respect to Cooperative
Loans, there is no mechanics' lien or claim for work,
labor or material affecting the premises subject to any
Mortgage which is or may be a lien prior to, or equal
or coordinate with, the lien of such Mortgage except
those which are insured against by the title insurance
policy referred to in (x) below;
(vi) As of the date of the initial issuance of the
Certificates, other than with respect to Cooperative
Loans, there is no delinquent tax or assessment lien
against the property subject to any Mortgage;
(vii) As of the date of the initial issuance of
the Certificates, there is no valid offset, defense or
counterclaim to any Mortgage Note or Mortgage,
including the obligation of the Mortgagor to pay the
unpaid principal and interest on such Mortgage Note;
(viii) As of the date of the initial issuance of
the Certificates, the physical property subject to any
Mortgage (or, in the case of a Cooperative Loan, the
related Cooperative Apartment) is free of material
damage and is in good repair;
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(ix) Each Mortgage Loan at the time it was made
complied in all material respects with applicable state
and federal laws, including, without limitation, usury,
equal credit opportunity and disclosure laws;
(x) Other than with respect to Cooperative Loans,
a lender's title insurance policy or binder, or other
assurance of title insurance customary in the relevant
jurisdiction therefor was issued on the date of the
origination of each Mortgage Loan and each such policy
or binder is valid and remains in full force and
effect;
(xi) None of the Mortgage Loans constitute
Pledged Asset Mortgage Loans. The Loan-to-Value Ratio
of each Mortgage Loan was not more than 95%. As of the
Cut-off Date, no more than 9.75% of the Mortgage Loans
by Scheduled Principal Balance had Loan-to-Value
Ratios of more than 80% and each such Mortgage Loan is
covered by a Primary Insurance Policy so long as its
then outstanding principal amount exceeds 80% of the
greater of (a) the Original Value and (b) the then
current value of the related Mortgaged Property as
evidenced by an appraisal thereof satisfactory to the
Company. Each Primary Insurance Policy is issued by a
private mortgage insurer acceptable to FNMA or FHLMC;
(xii) Each Mortgage Note is payable on the first
day of each month in self-amortizing monthly
installments of principal and interest, with interest
payable in arrears, over an original term of not more
than thirty years. The Mortgage Rate of each Mortgage
Note of the related Mortgage Loan was not less than
6.375% per annum and not greater than 8.375% per
annum. The Mortgage Rate of each Mortgage Note is
fixed for the life of the related Mortgage Loan;
(xiii) Other than with respect to Cooperative
Loans, the improvements on the Mortgaged Properties
are insured against loss under a hazard insurance
policy with extended coverage and conforming to the
requirements of Section 3.06 hereof. As of the date of
initial issuance of the Certificates, all such
insurance policies are in full force and effect;
(xiv) As of the Cut-off Date, (i) no more than
9.75% of the Mortgage Loans by Scheduled Principal
Balance had a Scheduled Principal Balance of more than
$500,000 and up to and including $750,000; (ii) no
more than 0.75% of the Mortgage Loans by Scheduled
Principal Balance had a Scheduled Principal Balance of
more than $750,000 and up to and including $1,000,000;
and (iii) no more than 0.80% of the Mortgage Loans by
Scheduled Principal Balance had a Scheduled Principal
Balance of more than $1,000,000;
(xv) As of the Cut-off Date, no more than 1.00%
of the Mortgage Loans by Scheduled Principal Balance
are secured by Mortgaged Properties located in any one
postal zip code area;
(xvi) As of the Cut-off Date, at least 98.25% of
the Mortgage Loans by Scheduled Principal Balance are
secured by Mortgaged Properties determined by
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the Company to be the primary residence of the
Mortgagor. The basis for such determination is the
making of a representation by the Mortgagor at
origination that he or she intends to occupy the
underlying property;
(xvii) As of the Cut-off Date, at least 92.00% of
the Mortgage Loans by Scheduled Principal Balance are
secured by one-family detached residences;
(xviii) As of the Cut-off Date, no more than
3.50% of the Mortgage Loans by Scheduled Principal
Balance are secured by condominiums and, as of the
Cut-off Date, no more than 1.50% of the Mortgage Loans
by Scheduled Principal Balance are secured by two- to
four-family residential properties. As to each
condominium or related Mortgage Loan, (a) the related
condominium is in a project that is on the FNMA or
FHLMC approved list, (b) the related condominium is in
a project that, upon submission of appropriate
application, could be so approved by either FNMA or
FHLMC, (c) the related Mortgage Loan meets the
requirements for purchase by FNMA or FHLMC, (d) the
related Mortgage Loan is of the type that could be
approved for purchase by FNMA or FHLMC but for the
principal balance of the related Mortgage Loan or the
pre-sale requirements or (e) the related Mortgage Loan
has been approved by a nationally recognized mortgage
pool insurance company for coverage under a mortgage
pool insurance policy issued by such insurer. As of
the Cut-off Date, no more than 0.50% of the Mortgage
Loans by Scheduled Principal Balance are secured by
condominiums located in any one postal zip code area;
(xix) Other than with respect to Cooperative
Loans, no Mortgage Loan is secured by a leasehold
interest in the related Mortgaged Property and each
Mortgagor holds fee title to the related Mortgaged
Property;
(xx) As of the Cut-off Date, none of the Mortgage
Loans constituted Buydown Mortgage Loans.
(xxi) The original principal balances of the
Mortgage Loans range from $227,500 to $1,443,750;
(xxii) As of the Cut-off Date, no more than 1.75%
of the Mortgage Loans by Scheduled Principal Balance
are secured by second homes and no more than 0.25% of
the Mortgage Loans by Scheduled Principal Balance are
secured by investor-owned properties;
(xxiii) All appraisals have been prepared
substantially in accordance with the description
contained under the caption "The Trust Fund - The
Mortgage Loans" in the Company's prospectus dated
October 22, 1998 accompanying the prospectus
supplement dated October 22, 1998, pursuant to which
certain Classes of Certificates were publicly offered;
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(xxiv) No selection procedures, other than those
necessary to comply with the representations and
warranties set forth herein or the description of the
Mortgage Loans made in any disclosure document
delivered to prospective investors in the
Certificates, have been utilized in selecting the
Mortgage Loans from the Company's portfolio which
would be adverse to the interests of the
Certificateholders;
(xxv) Other than with respect to Cooperative
Loans, to the best of the Company's knowledge, at
origination no improvement located on or being part of
a Mortgaged Property was in violation of any
applicable zoning and subdivision laws and ordinances;
(xxvi) None of the Mortgage Loans is a temporary
construction loan. With respect to any Mortgaged
Property which constitutes new construction, the
related construction has been completed substantially
in accordance with the specifications therefor and any
incomplete aspect of such construction shall not be
material or interfere with the habitability or legal
occupancy of the Mortgaged Property. Mortgage Loan
amounts sufficient to effect any such completion are
in escrow for release upon or in connection with such
completion or a performance bond or completion bond is
in place to provide funds for this purpose and such
completion shall be accomplished within 120 days after
weather conditions permit the commencement thereof;
(xxvii) As of the Closing Date, each Mortgage
Loan is a "qualified mortgage" as defined in Section
860G(a)(3) of the Code;
(xxviii) As of the Closing Date, the Company
possesses the Document File with respect to each
Mortgage Loan, and, other than with respect to
Cooperative Loans, the related Mortgages and
intervening assignment or assignments of Mortgages, if
any, have been delivered to a title insurance company
for recording;
(xxix) As of the Cut-Off Date, no more than 0.75%
of the Mortgage Loans, by Scheduled Principal Balance,
are Cooperative Loans. With respect to each
Cooperative Loan:
(A) The Security Agreement creates a first
lien in the stock ownership and leasehold rights
associated with the related Cooperative
Apartment;
(B) The lien created by the related Security
Agreement is a valid, enforceable and subsisting
first priority security interest in the related
Cooperative Stock securing the related Mortgage
Note, subject only to (a) liens of the
Cooperative for unpaid assessments representing
the Mortgagor's pro rata share of the
Cooperative's payments for its blanket mortgage,
current and future real property taxes, insurance
premiums, maintenance fees and other assessments
to which like collateral is commonly subject and
(b) other matters to which like collateral is
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commonly subject which do not materially
interfere with the benefits of the security
intended to be provided by the Security
Agreement. There are no liens against or security
interest in the Cooperative Stock relating to
such Cooperative Loan (except for unpaid
maintenance, assessments and other amounts owed
to the related Cooperative which individually or
in the aggregate do not have a material adverse
effect on such Cooperative Loan), which have
priority over the Trustee's security interest in
such Cooperative Stock;
(C) The Cooperative Stock that is pledged as
security for the Mortgage Loan is held by a
person as a "tenant-stockholder" within the
meaning of section 216 of the Code, the related
Cooperative that owns title to the related
cooperative apartment building is a "cooperative
housing corporation" within the meaning of
section 216 of the Code, and such Cooperative is
in material compliance with applicable federal,
state and local laws which, if not complied with,
could have a material adverse effect on the
Mortgaged Property; and
(D) There is no prohibition against pledging
the Cooperative Stock or assigning the
Proprietary Lease; and
(xxx) With respect to each Mortgage Loan
identified on Exhibit C as having been originated or
acquired under the Company's Enhanced Streamlined
Refinance program, the value of the related Mortgaged
Property, as of the date of such origination or
acquisition under the Company's Enhanced Streamlined
Refinance program, is no less than the value thereof
established at the time the mortgage loan that is the
subject of the refinancing was originated.
It is understood and agreed that the representations
and warranties set forth in this Section 2.03(a) shall survive
delivery of the respective Mortgage Files to the Trustee. Upon
discovery by either the Company or the Trustee of a breach of any
of the foregoing representations and warranties which materially
and adversely affects the interests of the Certificateholders in
the related Mortgage Loan, the party discovering such breach
shall give prompt written notice to the other. Subject to the
following sentence, within 60 days of its discovery or its
receipt of notice of breach, or, with the prior written consent
of a Responsible Officer of the Trustee, such longer period
specified in such consent, the Company shall cure such breach in
all material respects or shall repurchase such Mortgage Loan from
the Trustee or replace such Mortgage Loan pursuant to Section
2.03(b). Any such repurchase by the Company shall be accomplished
in the manner set forth in Section 2.02, subject to the proviso
of the third-to-last sentence thereof, and at the Purchase Price.
It is understood and agreed that the obligation of the Company to
repurchase or replace any Mortgage Loan as to which a breach
occurred and is continuing shall constitute the sole remedy
respecting such breach available to Certificateholders or the
Trustee on behalf of Certificateholders and such obligation of
the Company to repurchase or replace any such Mortgage Loan shall
not be assumed by any Person which may succeed the Company as
servicer hereunder, but shall continue as an obligation of the
Company. Notwithstanding the preceding sentence, if a breach of
the representation and warranty of the Company contained in
Section 2.03(a)(ix) occurs as a result of a violation of the
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federal Truth in Lending Act, 15 U.S.C. ss. 1601 et seq., as
amended ("TILA") or any state truth-in lending or similar
statute, and the Trustee or the Trust Fund is named as a
defendant in a TILA suit or a suit under any such statutes in
respect of such violation and liability in respect thereof is
imposed upon the Trustee or the Trust Fund as assignees of the
related Mortgage Loan pursuant to Section 1641 of TILA, or any
analogous provision of any such statute, the Company shall
indemnify the Trustee and the Trust Fund from, and hold them
harmless against, any and all losses, liabilities, damages,
claims or expenses (including reasonable attorneys' fees) to
which the Trustee and the Trust Fund, or either of them, become
subject pursuant to TILA or any such statute, insofar as such
losses, damages, claims or expenses (including reasonable
attorneys' fees) result from such violation. The Company's
obligations under the preceding sentence shall not impair or
derogate from the Company's obligations to the Trustee under
Section 8.05.
(b) If the Company is required to repurchase any Mortgage
Loan pursuant to Section 2.02 or 2.03(a), the Company may, at its
option, within the applicable time period specified in such
respective Sections, remove such Defective Mortgage Loan from the
terms of this Agreement and substitute one or more other mortgage
loans for such Defective Mortgage Loan, in lieu of repurchasing
such Defective Mortgage Loan, provided that no such substitution
shall occur more than two years after the Closing Date. Any
substitute Mortgage Loan shall (a) have a Scheduled Principal
Balance (together with that of any other Mortgage Loan
substituted for the same Defective Mortgage Loan) as of the first
Distribution Date following the month of substitution not in
excess of the Scheduled Principal Balance of the Defective
Mortgage Loan as of such date (the amount of any difference, plus
one month's interest thereon at the respective Remittance Rate,
to be deposited by the Company in the Certificate Account
pursuant to Section 2.02), (b) have a Mortgage Rate not less
than, and not more than one percentage point greater than, the
Mortgage Rate of the Defective Mortgage Loan, (c) have the same
Net Mortgage Rate as the Defective Mortgage Loan, (d) have a
remaining term to stated maturity not later than, and not more
than one year less than, the remaining term to stated maturity of
the Defective Mortgage Loan, (e) be, in the reasonable
determination of the Company, of the same type, quality and
character as the Defective Mortgage Loan as if the defect or
breach had not occurred, (f) have a ratio of its current
principal amount to its Original Value not greater than that of
the removed Mortgage Loan and (g) be, in the reasonable
determination of the Company, in compliance with the
representations and warranties contained in Section 2.03(a) as of
the date of substitution.
The Company shall amend the Mortgage Loan Schedule to
reflect the withdrawal of any Defective Mortgage Loan and the
substitution of a substitute Mortgage Loan therefor. Upon such
amendment the Company shall be deemed to have made as to such
substitute Mortgage Loan the representations and warranties set
forth in Section 2.03(a) as of the date of such substitution,
which shall be continuing as long as any Certificate shall be
outstanding or this Agreement has not been terminated, and the
remedies for breach of any such representation or warranty shall
be as set forth in Section 2.03(a). Upon such amendment, the
Trustee shall review the Mortgage File delivered to it relating
to the substitute Mortgage Loan, within the time and in the
manner and with the remedies specified in Section 2.02, except
that for purposes of this Section 2.03(b) (other than the
two-year period specified in the first sentence of the preceding
paragraph of this Section 2.03(b)), such time shall be measured
from the date of the applicable substitution.
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Section 2.04. Execution of Certificates. The Trustee has
caused to be executed, countersigned and delivered to or upon the
order of the Company, in exchange for the Mortgage Loans, the
Certificates in authorized denominations evidencing the entire
ownership of the Trust Fund.
Section 2.05. Designations under the REMIC Provisions. (a)
The Company hereby designates the Classes of Certificates
identified in Section 5.01(b), other than the Residual
Certificates, as "regular interests," and the Class R Certificate
as the single class of "residual interests," in the REMIC
established hereunder for purposes of the REMIC Provisions.
(b) The Closing Date will be the "Startup Day" for the
REMIC established hereunder for purposes of the REMIC Provisions.
(c) The "tax matters person" with respect to the REMIC
established hereunder for purposes of the REMIC Provisions shall
be (i) the Company, if the Company is the owner of a Class R
Certificate, or (ii) in any other case, the beneficial owner of
the Class R Certificate having the largest Percentage Interest of
such Class; provided, however, that such largest beneficial owner
and, to the extent relevant, each other holder of a Class R
Certificate, by its acceptance thereof irrevocably appoints the
Company as its agent and attorney-in-fact to act as "tax matters
person" with respect to the REMIC established hereunder for
purposes of the REMIC Provisions.
(d) The "latest possible maturity date" of the regular
interests in the REMIC established hereunder is the Latest
Possible Maturity Date for purposes of section 860G(a)(1) of the
Code.
(e) In the event that the Servicing Fee exceeds the amount
reasonable for such services (within the meaning of Treasury
Regulation 1.860D-1(b)(1)(ii)), the portion or portions of such
fee that can be measured as a fixed number of basis points on
some or all of the Mortgage Loans and can be treated as one or
more stripped coupons within the meaning of Treasury Regulation
1.860D-1(b)(2)(iii) shall be treated as such stripped coupons and
shall not be treated as a REMIC asset.
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ARTICLE III
ADMINISTRATION AND SERVICING OF MORTGAGE LOANS
Section 3.01. Company to Act as Servicer. (a) It is
intended that the REMIC established hereunder shall constitute,
and that the affairs of the REMIC shall be conducted so as to
qualify the Trust Fund (other than any collateral fund
established under the agreement referred to in Section 3.08(e)),
as a "real estate mortgage investment conduit" as defined in and
in accordance with the REMIC Provisions. In furtherance of such
intention, the Company covenants and agrees that it shall act as
agent (and the Company is hereby appointed to act as agent) on
behalf of the Trust Fund and the Holders of the Residual
Certificates and that in such capacity it shall:
(i) prepare and file, or cause to be prepared and
filed, in a timely manner, a U.S. Real Estate Mortgage
Investment Conduit Income Tax Return (Form 1066) and
prepare and file or cause to be prepared and filed
with the Internal Revenue Service and applicable state
or local tax authorities income tax or information
returns for each taxable year with respect to the
REMIC established hereunder, using the calendar year
as the taxable year and the accrual method of
accounting, containing such information and at the
times and in the manner as may be required by the Code
or state or local tax laws, regulations, or rules, and
shall furnish or cause to be furnished to
Certificateholders the schedules, statements or
information at such times and in such manner as may be
required thereby;
(ii) within thirty days of the Closing Date,
shall furnish or cause to be furnished to the Internal
Revenue Service, on Form 8811 or as otherwise may be
required by the Code, the name, title, address, and
telephone number of the person that the holders of the
Certificates may contact for tax information relating
thereto (and the Company shall act as the
representative of the REMIC established hereunder for
this purpose), together with such additional
information as may be required by such Form, and shall
update such information at the time or times and in
the manner required by the Code;
(iii) make or cause to be made an election, on
behalf of the REMIC established hereunder, to be
treated as a REMIC, and make the appropriate
designations, if applicable, in accordance with
Section 2.05(a) hereof on the federal tax return of
the Trust Fund for its first taxable year (and, if
necessary, under applicable state law);
(iv) prepare and forward, or cause to be prepared
and forwarded, to the Certificateholders and to the
Internal Revenue Service and, if necessary, state tax
authorities, all information returns or reports, or
furnish or cause to be furnished by telephone, mail,
publication or other appropriate method such
information, as and when required to be provided to
them in accordance with the REMIC Provisions,
including without limitation, the calculation of any
original issue discount using the Prepayment
Assumption Multiple;
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(v) provide information necessary for the
computation of tax imposed on the transfer of a
Residual Certificate to a Disqualified Organization,
or an agent (including a broker, nominee or other
middleman) of a Disqualified Organization, or a
pass-through entity in which a Disqualified
Organization is the record holder of an interest (the
reasonable cost of computing and furnishing such
information may be charged to the Person liable for
such tax);
(vi) use its best reasonable efforts to conduct
the affairs of the REMIC established hereunder at all
times that any Certificates are outstanding so as to
maintain the status thereof as a REMIC under the REMIC
Provisions;
(vii) not knowingly or intentionally take any
action or omit to take any action that would cause the
termination of the REMIC status of the REMIC or that
would subject the Trust Fund to tax;
(viii) exercise reasonable care not to allow the
creation of any "interests" in the REMIC within the
meaning of section 860D(a)(2) of the Code other than
the interests represented by the Classes of
Certificates identified in Section 5.01(b);
(ix) exercise reasonable care not to allow the
occurrence of any "prohibited transactions" within the
meaning of section 860F of the Code, unless the
Company shall have provided an Opinion of Counsel to
the Trustee that such occurrence would not (a) result
in a taxable gain, (b) otherwise subject the Trust
Fund to tax, or (c) cause the REMIC established
hereunder to fail to qualify as a REMIC;
(x) exercise reasonable care not to allow the
Trust Fund to receive income from the performance of
services or from assets not permitted under the REMIC
Provisions to be held by a REMIC;
(xi) pay the amount of any federal or state tax,
including prohibited transaction taxes, taxes on
certain contributions to the REMIC after the Startup
Day, and taxes on net income from foreclosure
property, imposed on the Trust Fund when and as the
same shall be due and payable (but such obligation
shall not prevent the Company or any other appropriate
Person from contesting any such tax in appropriate
proceedings and shall not prevent the Company from
withholding payment of such tax, if permitted by law,
pending the outcome of such proceedings);
(xii) ensure that federal, state or local income
tax or information returns shall be signed by the
Trustee or such other person as may be required to
sign such returns by the Code or state or local laws,
regulations or rules; and
(xiii) maintain such records relating to the
REMIC established hereunder, including but not limited
to the income, expenses, individual Mortgage Loans
(including Mortgaged Property), other assets and
liabilities thereof, and the
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fair market value and adjusted basis of the property
of each determined at such intervals as may be
required by the Code, as may be necessary to prepare
the foregoing returns, schedules, statements or
information.
The Company shall be entitled to be reimbursed
pursuant to Section 3.04 for any federal income taxes paid by it
pursuant to clause (xi) of the preceding sentence, except to the
extent that such taxes are imposed as a result of the bad faith,
misfeasance or negligence of the Company in the performance of
its obligations hereunder. With respect to any reimbursement of
prohibited transaction taxes, the Company shall inform the
Trustee of the circumstances under which such taxes were
incurred.
(b) The Company shall service and administer the Mortgage
Loans and shall have full power and authority, acting alone or
through one or more Primary Servicers, to do any and all things
in connection with such servicing and administration which it may
deem necessary or desirable. Without limiting the generality of
the foregoing, the Company shall continue, and is hereby
authorized and empowered by the Trustee, to execute and deliver,
or file, as appropriate, on behalf of itself, the
Certificateholders and the Trustee or any of them, any and all
continuation statements, termination statements, instruments of
satisfaction or cancellation, or of partial or full release or
discharge and all other comparable instruments, with respect to
the Mortgage Loans and with respect to the properties subject to
the Mortgages. Without limitation of the foregoing, if the
Company in its individual capacity agrees to refinance any
Mortgage Loan upon the request of the related Mortgagor, the
Company, as servicer hereunder, may execute an instrument of
assignment in customary form to the Company in its individual
capacity. In connection with any such refinancing, the Trustee
shall, upon certification of a Servicing Officer to the effect
that an amount equal to the principal balance of the related
Mortgage Loan together with accrued and unpaid interest thereon
at the applicable Remittance Rate to the date of such
certification has been credited to the Mortgage Loan Payment
Record, release the related Mortgage File to the Company
whereupon the Company may cancel the related Mortgage Note. Upon
request by the Company after the execution and delivery of this
Agreement, the Trustee shall furnish the Company with any powers
of attorney and other documents necessary or appropriate to
enable the Company to carry out its servicing and administrative
duties hereunder. Except as otherwise provided herein, the
Company shall maintain servicing standards substantially
equivalent to those required for approval by FNMA or FHLMC. The
Company shall not agree to any modification of the material terms
of any Mortgage Loan except as provided in the second sentence of
Section 3.02(a) and in Section 3.07. The Company shall not
release any portion of any Mortgaged Property from the lien of
the related Mortgage unless the related Mortgage Loan would be a
"qualified mortgage" within the meaning of the REMIC Provisions
following such release.
(c) [Intentionally Omitted.]
(d) The relationship of the Company (and of any successor
to the Company as servicer under this Agreement) to the Trustee
under this Agreement is intended by the parties to be that of an
independent contractor and not that of a joint venturer, partner
or agent.
(e) All costs incurred by the Company in effecting the
timely payment of taxes and assessments on the properties subject
to the Mortgage Loans shall not, for the purpose of
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calculating monthly distributions to Certificateholders, be added
to the amount owing under the related Mortgage Loans,
notwithstanding that the terms of such Mortgage Loans so permit,
and such costs shall be recoverable by the Company to the extent
permitted by Section 3.04. The Company shall collect such amounts
from the Mortgagor and shall credit the Mortgage Loan Payment
Record accordingly.
(f) If the Company enters into a servicing agreement with
any servicer (a "Primary Servicer") pursuant to which such
Primary Servicer shall directly service certain Mortgage Loans
and the Company shall perform master servicing with respect
thereto, the Company shall not be released from its obligations
to the Trustee and Certificateholders with respect to the
servicing and administration of the Mortgage Loans in accordance
with the provisions of Article III hereof and such obligations
shall not be diminished by virtue of any such servicing agreement
or arrangement and the Company shall be obligated to the same
extent and under the same terms and conditions as if the Company
alone were servicing and administering the Mortgage Loans. Any
amounts received by a Primary Servicer in respect of a Mortgage
Loan shall be deemed to have been received by the Company whether
or not actually received by it. Any servicing agreement that may
be entered into and any transactions or services relating to the
Mortgage Loans involving a Primary Servicer in its capacity as
such shall be deemed to be between the Company and the Primary
Servicer alone, and the Trustee and the Certificateholders shall
have no claims, obligations, duties or liabilities with respect
thereto. Notwithstanding the foregoing, in the event the Company
has been removed as the servicer hereunder pursuant to Section
6.04 or Section 7.01, the Trustee or any successor servicer
appointed pursuant to Section 7.02 shall succeed to all of the
Company's rights and interests (but not to any obligations or
liabilities of the Company arising prior to the date of
succession) under any servicing agreement with any Primary
Servicer in respect of the Mortgage Loans, subject to the
limitation on the Trustee's responsibilities under Section 7.02.
(g) In no event shall any collateral fund established under
the agreement referred to in Section 3.08(e) constitute an asset
of any REMIC established hereunder.
Section 3.02. Collection of Certain Mortgage Loan Payments;
Mortgage Loan Payment Record; Certificate Account. (a) The
Company shall make reasonable efforts to collect all payments
called for under the terms and provisions of the Mortgage Loans,
and shall, to the extent such procedures shall be consistent with
this Agreement, follow such collection procedures as it follows
with respect to mortgage loans comparable to the Mortgage Loans
in its servicing portfolio. Consistent with the foregoing, the
Company may in its discretion (i) waive any late payment charge
or any assumption fees or other fees which may be collected in
the ordinary course of servicing such Mortgage Loan and (ii) if a
default on the Mortgage Loan has occurred or is reasonably
foreseeable, arrange at any time prior to foreclosure with a
Mortgagor a schedule for the payment of due and unpaid principal
and interest for a period extending not longer than two years
after the date that such schedule is arranged. Any arrangement of
the sort described in clause (ii) above shall not affect the
amount or timing of the Company's obligation to make Monthly
Advances with respect to any Mortgage Loan which Monthly Advances
shall be made pursuant to the original amortization schedule
applicable to such Mortgage Loan.
(b) The Company shall establish and maintain a Mortgage
Loan Payment Record in which the following payments on and
collections in respect of each Mortgage Loan shall as
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promptly as practicable be credited by the Company for the
account of the Holders of the Certificates:
(i) All payments on account of principal,
including Principal Prepayments (other than (A)
payments of principal due and payable on the Mortgage
Loans on or before, and all Principal Prepayments
received before, the Cut-off Date, (B) in the case of
a substitute Mortgage Loan, payments of principal due
and payable on such Mortgage Loan on or before the
Determination Date in the month of substitution, and
all Principal Prepayments received before the first
day of the month of substitution, and (C) in the case
of a replaced Mortgage Loan, payments of principal due
and payable on such Mortgage Loan after the
Determination Date in the month of substitution, and
all Principal Prepayments received in the month of
substitution);
(ii) All payments (other than (A) those due and
payable on or before the Cut-off Date, (B) in the case
of a substitute Mortgage Loan, those due and payable
on such Mortgage Loan on or before the Determination
Date in the month of substitution, and (C) in the case
of a replaced Mortgage Loan, those due and payable on
such Mortgage Loan after the Determination Date in the
month of substitution) on account of interest at the
applicable Remittance Rate on the Mortgage Loan
received from the related Mortgagor, including any
Buydown Funds applied with respect to interest at the
applicable Remittance Rate on any Buydown Mortgage
Loan;
(iii) All Liquidation Proceeds received by the
Company with respect to such Mortgage Loan and the
Purchase Price for any Mortgage Loan purchased by the
Company pursuant to Sections 2.02, 2.03 and 3.16
(including any amounts received in respect of a
substitution of a Mortgage Loan);
(iv) All Insurance Proceeds (including, for this
purpose, any amounts required to be credited by the
Company pursuant to the last sentence of Section 3.06)
received by the Company for the benefit of the Trust
Fund, other than proceeds to be applied to the
restoration or repair of the property subject to the
related Mortgage or released, or to be released, to
the related Mortgagor in accordance with the normal
servicing procedures of the Company;
(v) All REO Proceeds;
(vi) All Unanticipated Recoveries; and
(vii) All amounts received by the Company with
respect to any Pledged Asset Mortgage Loan pursuant to
the liquidation of any Additional Collateral or
pursuant to any recovery under the Surety Bond in
accordance with Section 4.09.
The foregoing requirements respecting credits to the
Mortgage Loan Payment Record are exclusive, it being understood
that, without limiting the generality of the foregoing, the
Company need not enter in the Mortgage Loan Payment Record
collections, Liquidation
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Proceeds or Insurance Proceeds in respect of Mortgage Loans which
have been previously released from the terms of this Agreement,
amounts representing fees or late charge penalties payable by
Mortgagors, or amounts received by the Company for the account of
Mortgagors for application towards the payment of taxes,
insurance premiums, assessments and similar items.
(c) Subject to subsection (e) below, until the Business Day
prior to each Distribution Date on which amounts are required to
be transferred to the Certificate Account pursuant to subsection
(d) of this Section 3.02, the Company may retain and commingle
such amounts with its own funds and shall be entitled to retain
for its own account any gain or investment income thereon, and
any such investment income shall not be subject to any claim of
the Trustee or Certificateholders. To the extent that the Company
realizes any net loss on any such investments, the Company shall
deposit in the Certificate Account an amount equal to such net
loss at the time the Company is required to deposit amounts in
the Certificate Account pursuant to subsection (d) of this
section 3.02. Any such deposit shall not increase the Company's
obligation under said subsection (d).
(d) The Trustee shall establish and maintain with the
Trustee in its corporate trust department a single separate trust
account designated in the name of the Trustee for the benefit of
the Holders of the Certificates issued hereunder (the
"Certificate Account") into which the Company shall transfer, not
later than 11:00 a.m. New York time on the Business Day prior to
each Distribution Date, an amount in next day funds equal to the
sum of Available Funds for such Distribution Date and any
Unanticipated Recoveries received in the calendar month preceding
the month of such Distribution Date. If the Trustee does not
receive such transfer by 2:00 p.m. on such Business Day, it shall
give the Company written notice thereof.
(e) If the Company or a Responsible Officer of the Trustee
obtains actual notice of or knowledge of the occurrence of either
(x) any Trigger Event or (y) the downgrade by S&P of General
Electric Capital Corporation's short-term senior unsecured debt
rating below A-1+ then, notwithstanding subsection (c) above, the
Company shall promptly establish, and thereafter maintain, one or
more Eligible Accounts in the name of the Trustee and bearing a
designation indicating that amounts therein are held for the
benefit of the Trustee and the Certificateholders, into which the
Company and any Primary Servicer shall deposit within two
Business Days after receipt, all amounts otherwise required to be
credited to the Mortgage Loan Payment Record pursuant to Section
3.02(b); provided, however, that such action shall not be
required if the Company delivers to the Trustee a letter from
each Rating Agency to the effect that the failure to take such
action will not cause such Rating Agency to withdraw or reduce
its then current ratings of the Certificates. All amounts so
deposited shall be held in trust for the benefit of
Certificateholders. Amounts so deposited may be invested at the
written instruction of the Company in Permitted Investments in
the name of the Trustee maturing no later than the Business Day
preceding the Distribution Date following the date of such
investment; provided, however, that any such Permitted Investment
which is an obligation of State Street Bank and Trust Company, in
its individual capacity and not in its capacity as Trustee, may
mature on such Distribution Date; and, provided further, that no
such Permitted Investment shall be sold before the maturity
thereof if the sale thereof would result in the realization of
gain prior to maturity unless the Company has obtained an Opinion
of Counsel that such sale or disposition will not cause the Trust
Fund to be subject to the tax on prohibited transactions under
section 860F of the Code, or otherwise subject the Trust Fund to
tax or the REMIC established hereunder to fail to
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qualify as a REMIC. The Trustee shall maintain physical
possession of all Permitted Investments, other than Permitted
Investments maintained in book-entry form. The Company, as
servicer, shall be entitled to retain for its own account any
gain or other income from Permitted Investments, and neither the
Trustee nor Certificateholders shall have any right or claim with
respect to such income. The Company shall deposit an amount equal
to any loss realized on any Permitted Investment as soon as any
such loss is realized. If the provisions in this subsection (e)
become operable, references in this Agreement to the Mortgage
Loan Payment Record and credits and debits to such Record shall
be deemed to refer to Eligible Accounts and transfers to and
withdrawals from such Eligible Accounts. Any action which may be
necessary to establish the terms of an account pursuant to this
Section 3.02(e) may be taken by an amendment or supplement to
this Agreement or pursuant to a written order of the Company,
which amendment, supplement or order shall not require the
consent of Certificateholders, provided that the Company has
delivered to the Trustee a letter from each Rating Agency to the
effect that such amendment, supplement or order will not cause
such Rating Agency to withdraw or reduce its then current ratings
of the Certificates.
Section 3.03. Collection of Taxes, Assessments and Other
Items. Other than with respect to any Cooperative Loan, the
Company shall establish and maintain with one or more depository
institutions one or more accounts into which it shall deposit all
collections of taxes, assessments, private mortgage or hazard
insurance premiums or comparable items for the account of the
Mortgagors. As servicer, the Company shall effect the timely
payment of all such items for the account of Mortgagors.
Withdrawals from such account or accounts may be made only to
effect payment of taxes, assessments, private mortgage or
standard hazard insurance premiums or comparable items, to
reimburse the Company out of related collections for any payments
made regarding taxes and assessments or for any payments made
pursuant to Section 3.05 regarding premiums on Primary Insurance
Policies and Section 3.06 regarding premiums on standard hazard
insurance policies, to refund to any Mortgagors any sums
determined to be overages, or to pay interest owed to Mortgagors
to the extent required by law.
Section 3.04. Permitted Debits to the Mortgage Loan Payment
Record. The Company (or any successor servicer pursuant to
Section 7.02) may, from time to time, make debits to the Mortgage
Loan Payment Record for the following purposes:
(i) To reimburse the Company or the applicable
Primary Servicer for Liquidation Expenses theretofore
incurred in respect of any Mortgage Loan in an amount
not to exceed the amount of the related Liquidation
Proceeds credited to the Mortgage Loan Payment Record
pursuant to Section 3.02(b)(iii); provided that the
Company or the applicable Primary Servicer shall not
be entitled to reimbursement for Liquidation Expenses
incurred after the initiation of foreclosure
proceedings in respect of any Defaulted Mortgage Loan
that is repurchased pursuant to Section 3.16;
(ii) To reimburse the Company or the applicable
Primary Servicer for Insured Expenses and amounts
expended by it pursuant to Section 3.08 in good faith
in connection with the restoration of property damaged
by an Uninsured Cause, in an amount not to exceed the
amount of the related Insurance Proceeds and
Liquidation Proceeds (net of any debits pursuant to
clause (i) above) and
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amounts representing proceeds of other insurance
policies covering the property subject to the related
Mortgage credited to the Mortgage Loan Payment Record
pursuant to Section 3.02(b) (iii) and (iv);
(iii) To reimburse the Company to the extent
permitted by Sections 3.01(a) and 6.04;
(iv) To pay to the Company amounts received in
respect of any Defective Mortgage Loan or Defaulted
Mortgage Loan purchased by the Company to the extent
that the distribution of any such amounts on the
Distribution Date upon which the proceeds of such
purchase are distributed would make the total amount
distributed in respect of any such Mortgage Loan on
such Distribution Date greater than the Purchase Price
therefor, net of any unreimbursed Monthly Advances
made by the Company;
(v) To reimburse the Company (or the Trustee, as
applicable) for Monthly Advances theretofore made in
respect of any Mortgage Loan to the extent of late
payments, REO Proceeds, Insurance Proceeds and
Liquidation Proceeds in respect of such Mortgage Loan;
(vi) To reimburse the Company from any Mortgagor
payment of interest or other recovery with respect to
a particular Mortgage Loan, to the extent not
previously retained by the Company, for unpaid
Servicing Fees with respect to such Mortgage Loan,
subject to Section 3.08(d);
(vii) To reimburse the Company (or the Trustee,
as applicable) for any Nonrecoverable Advance (which
right of reimbursement of the Trustee pursuant to this
clause shall be prior to such right of the Company);
(viii) To make transfers of funds to the
Certificate Account pursuant to Section 3.02(d); and
(ix) To deduct any amount credited to the
Mortgage Loan Payment Record in error.
The Company shall keep and maintain separate
accounting records, on a Mortgage Loan by Mortgage Loan basis,
for the purpose of accounting for debits to the Mortgage Loan
Payment Record pursuant to clauses (i), (ii), (iv), (v) and (vi)
of this Section 3.04; provided, however, that it is understood
and agreed that the records of such accounting need not be
retained by the Company for a period longer than the five most
recent fiscal years.
Section 3.05. Maintenance of the Primary Insurance
Policies. (a) The Company shall not take any action which would
result in non-coverage under any applicable Primary Insurance
Policy of any loss which, but for the actions of the Company,
would have been covered thereunder. To the extent coverage is
available, the Company shall keep or cause to be kept in full
force and effect each such Primary Insurance Policy until the
principal balance of the related Mortgage Note is 80% or less of
the greater of (i) the related Original Value and (ii) the then
current value of the property underlying the related Mortgage
Note as evidenced by an appraisal
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thereof satisfactory to the Company; provided that no such
Primary Insurance Policy need be kept in effect if doing so would
violate applicable law. The Company shall not cancel or refuse to
renew any such Primary Insurance Policy applicable to a Mortgage
Loan that is in effect at the Closing Date and is required to be
kept in force hereunder unless the replacement Primary Insurance
Policy for such canceled or non-renewed policy is maintained with
an insurer whose claims-paying ability is acceptable to each
Rating Agency for mortgage pass-through certificates having
ratings equal to or better than the ratings then assigned to the
Certificates by such Rating Agency. The Company agrees to effect
the timely payment of the premium on each Primary Insurance
Policy, and such costs not otherwise recoverable shall be
recoverable by the Company from related Insurance Proceeds and
Liquidation Proceeds pursuant to Section 3.04.
(b) In connection with its activities as administrator and
servicer of the Mortgage Loans, the Company agrees to present, on
behalf of itself, the Trustee and the Certificateholders, claims
to the insurer under each Primary Insurance Policy and, in this
regard, to take such reasonable action as shall be necessary to
permit recovery under any Primary Insurance Policy respecting a
related defaulted Mortgage Loan. To the extent provided in
Section 3.02(b), any amounts collected by the Company under any
Primary Insurance Policy in respect of the Mortgage Loans
(including, without limitation, a Mortgage Loan purchased by a
related insurer) shall be credited to the Mortgage Loan Payment
Record.
Section 3.06. Maintenance of Hazard Insurance. The Company
shall cause to be maintained for each Mortgage Loan, other than a
Cooperative Loan, hazard insurance with a standard mortgagee
clause and with extended coverage in an amount which is at least
equal to the maximum insurable value of the improvements securing
such Mortgage Loan from time to time or the principal balance
owing on such Mortgage Loan from time to time, whichever is less.
The Company shall also maintain on property (other than
Cooperative Apartments) acquired upon foreclosure, or by deed in
lieu of foreclosure, hazard insurance with extended coverage in
an amount which is at least equal to the lesser of (i) the
maximum insurable value from time to time of the improvements
which are a part of such property or (ii) the unpaid principal
balance of such Mortgage Loan at the time of such foreclosure or
deed in lieu of foreclosure plus accrued interest and the
good-faith estimate of the Company of related Liquidation
Expenses to be incurred in connection therewith. To the extent
provided in Section 3.02(b)(iv), amounts collected by the Company
under any such policies in respect of the Mortgage Loans shall be
credited to the Mortgage Loan Payment Record. Such costs shall be
recoverable by the Company pursuant to Sections 3.03 and 3.04. In
cases in which property securing any Mortgage Loan other than a
Cooperative Loan is located in a federally designated flood area,
the hazard insurance to be maintained for such Mortgage Loan
shall include flood insurance. All such flood insurance shall be
in such amounts as are required under applicable guidelines of
FNMA. The Company shall be under no obligation to require that
any Mortgagor maintain earthquake or other additional insurance
and shall be under no obligation itself to maintain any such
additional insurance on property acquired in respect of a
Mortgage Loan, other than pursuant to such applicable laws and
regulations as shall at any time be in force and as shall require
such additional insurance. If the Company shall obtain and
maintain a blanket policy insuring against hazard losses on all
of the Mortgage Loans (whether or not including Cooperative
Loans), it shall conclusively be deemed to have satisfied its
obligations as set forth in the first sentence of this Section
3.06, it being understood and agreed that such policy may contain
a deductible clause, in which case the Company shall, in the
event that there shall not have been maintained on the
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related Mortgaged Property a policy complying with the first
sentence of this Section 3.06, and there shall have been a loss
which would have been covered by such policy, credit to the
Mortgage Loan Payment Record the amount not otherwise payable
under the blanket policy because of such deductible clause.
Section 3.07. Assumption and Modification Agreements. (a)
In any case in which property subject to a Mortgage has been or
is about to be conveyed by the Mortgagor, the Company shall
exercise its right to accelerate the maturity of such Mortgage
Loan under any "due-on-sale" clause applicable thereto, unless in
the reasonable discretion of the Company, such exercise would
adversely affect or jeopardize coverage under the related Primary
Insurance Policy, if any; provided, however, that if the Company
is prevented, as provided in Section 3.07(b), from enforcing any
such clause, the Company is authorized to make or enter into an
assumption and modification agreement from or with the Person to
whom such property has been or is about to be conveyed, pursuant
to which such Person becomes liable under the Mortgage Note and
the Mortgagor remains liable thereon. In connection with any such
assumption and modification agreement, the Company shall apply
its then current underwriting standards to such Person. The
Company shall not make or enter into any such assumption and
modification agreement, however, unless (to the extent
practicable in the circumstances) it shall have received
confirmation of the continued effectiveness of any applicable
Primary Insurance Policy and hazard insurance policy. The Company
shall notify the Trustee that any assumption and modification
agreement has been completed by forwarding to the Trustee the
original copy thereof, which copy shall be added by the Trustee
to the related Mortgage File and shall, for all purposes, be
considered a part of such Mortgage File to the same extent as all
other documents and instruments constituting a part thereof. In
connection with any such agreement, the Mortgage Rate, mortgage
term and any other material term of such Mortgage Loan shall not
be changed. Any fee collected by the Company for entering into
any such agreement will be retained by the Company as additional
servicing compensation.
(b) Notwithstanding Section 3.07(a) or any other provision
of this Agreement, the Company shall not be deemed to be in
default, breach or any other violation of its obligations
hereunder by reason of any assumption of a Mortgage Loan, or
transfer of the property subject to a Mortgage without the
assumption thereof, by operation of law or any assumption or
transfer which the Company reasonably believes it may be
restricted by law from preventing, for any reason whatsoever.
Section 3.08. Realization Upon Defaulted Mortgage Loans.
(a) The Company shall foreclose upon or otherwise comparably
convert the ownership of properties securing such of the Mortgage
Loans as come into and continue in default and as to which no
satisfactory arrangements can be made for collection of
delinquent payments pursuant to Section 3.02. In connection with
such foreclosure or other conversion the Company shall,
consistent with Section 3.05, follow such practices and
procedures as it shall deem necessary or advisable and as shall
be normal and usual in its general mortgage servicing activities.
The foregoing is subject to the proviso that the Company shall
not be required to expend its own funds in connection with any
foreclosure or towards the restoration of any property unless it
shall determine (i) that such restoration or foreclosure will
increase the proceeds of liquidation of the Mortgage Loan to
Certificateholders after reimbursement to itself for such
expenses and (ii) that such expenses will be recoverable to it
either through Liquidation Proceeds or Insurance Proceeds.
Notwithstanding
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the foregoing, the Company shall not be entitled to recover legal
expenses incurred in connection with foreclosure proceedings
where the Mortgage Loan is reinstated and such foreclosure
proceedings are terminated prior to completion, other than sums
received from the Mortgagor for such expenses.
Notwithstanding anything to the contrary contained
herein, the Company shall be under no obligation to foreclose
upon or otherwise convert the ownership of any Mortgaged Property
which it believes may be contaminated with or affected by
hazardous or toxic wastes, materials or substances. The Company
may, but shall not be obligated to, make such determination on
the basis of a Phase I environmental assessment with respect to
the related Mortgaged Property. Neither the Trustee nor the
Company shall be liable to the Trust Fund or the
Certificateholders if, based on the Company's belief that such
contamination or effect exists, the Company does not foreclose
upon or otherwise convert the ownership of a Mortgaged Property.
In addition, neither the Trustee nor the Company shall be liable
to the Trust Fund or the Certificateholders if, based on the
Company's belief that no such contamination or effect exists, the
Company forecloses upon a Mortgaged Property and the Trustee or
its nominee on behalf of the Trust Fund takes title to such
Mortgaged Property, and thereafter such Mortgaged Property is
determined to be so contaminated or affected.
(b) In the event that title to any Mortgaged Property is
acquired in foreclosure or by deed in lieu of foreclosure, the
deed or certificate of sale shall be issued to the Trustee, or to
its nominee on behalf of the Trust Fund. Notwithstanding any such
acquisition of title and cancellation of the related Mortgage
Loan, such Mortgage Loan shall (except for purposes of Section
9.01) be considered to be an Outstanding Mortgage Loan until such
time as the Mortgaged Property shall be sold and such Mortgage
Loan becomes a Liquidated Mortgage Loan. Consistent with the
foregoing, for purposes of all calculations hereunder so long as
such Mortgage Loan shall be considered to be an Outstanding
Mortgage Loan, it shall be assumed that the related Mortgage Note
and its amortization schedule in effect on and after such
acquisition of title (after giving effect to any previous
Principal Prepayments and Deficient Valuations incurred
subsequent to the related Bankruptcy Coverage Termination Date
and before any adjustment thereto by reason of any bankruptcy
(other than as aforesaid) or any similar proceeding or any
moratorium or similar waiver or grace period) remain in effect
(notwithstanding that the indebtedness evidenced by such Mortgage
Note shall have been discharged), subject to adjustment to
reflect the application of REO Proceeds received in any month.
REO Proceeds received in any month shall be applied to the
payment of the installments of principal due and interest accrued
on the related REO Mortgage Loan in accordance with the terms of
such Mortgage Note. REO Proceeds received in any month in excess
of the Amortization Payment for such month due on an REO Mortgage
Loan shall be treated as a Principal Prepayment received in
respect of such Mortgage Loan.
(c) In the event that the Trust Fund acquires any Mortgaged
Property as aforesaid or otherwise in connection with a default
or imminent default on a Mortgage Loan, the Company shall dispose
of such Mortgaged Property prior to the close of the third
calendar year after the year of its acquisition by the Trust Fund
unless (a) the Trustee shall have been supplied with an Opinion
of Counsel to the effect that the holding by the Trust Fund of
such Mortgaged Property subsequent to such period (and specifying
the period beyond such period for which the Mortgaged Property
may be held) will not result in the imposition of taxes on
"prohibited
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transactions" of the Trust Fund as defined in section 860F of the
Code, or cause the REMIC established hereunder to fail to qualify
as a REMIC at any time that any Certificates are outstanding, in
which case the Trust Fund may continue to hold such Mortgaged
Property (subject to any conditions contained in such Opinion of
Counsel), or (b) the Trustee (at the Company's expense) or the
Company shall have applied for, not later than 61 days prior to
the expiration of such period, an extension of such period in the
manner contemplated by section 856(e)(3) of the Code, in which
case such period shall be extended by the time period permitted
by section 856(e)(3) of the Code. Notwithstanding any other
provision of this Agreement, no Mortgaged Property acquired by
the Trust Fund shall be rented (or allowed to continue to be
rented) or otherwise used for the production of income by or on
behalf of the Trust Fund or sold in such a manner or pursuant to
any terms that would (i) cause such Mortgaged Property to fail to
qualify at any time as "foreclosure property" within the meaning
of section 860G(a)(8) of the Code, (ii) subject the Trust Fund to
the imposition of any federal or state income taxes on "net
income from foreclosure property" with respect to such Mortgaged
Property within the meaning of section 860G(c) of the Code, or
(iii) cause the sale of such Mortgaged Property to result in the
receipt by the Trust Fund of any income from non-permitted assets
as described in section 860F(a)(2)(B) of the Code, unless the
Company has agreed to indemnify and hold harmless the Trust Fund
with respect to the imposition of any such taxes.
(d) Any collection of Insurance Proceeds or Liquidation
Proceeds will be applied in the following order of priority:
first, to reimburse the Company for any related unreimbursed
Liquidation Expenses and to reimburse the Company or the Trustee,
as applicable, for any related unreimbursed Monthly Advances;
second, to accrued and unpaid interest on the Mortgage Loan at
the Mortgage Rate from the date to which interest was last paid
or advanced to the Due Date prior to the Distribution Date on
which such amounts are to be distributed; and third, as a
recovery of principal of the Mortgage Loan. If the amount so
allocated to interest is less than the full amount of accrued and
unpaid interest due on such Mortgage Loan, the amount of such
recovery will be allocated among the Base Servicing Fee at the
Base Servicing Fee Rate, the Supplemental Servicing Fee at the
Supplemental Servicing Fee Rate and interest at the Remittance
Rate in proportion to the amount of such accrued interest which
would have been allocated to each such category in the absence of
any shortfall. The resulting Interest Loss shall be allocated
among each such category in the same proportion as described in
the preceding sentence. The portion so allocated to interest at
the Remittance Rate shall be allocated to the Certificates for
purposes of making the allocation specified in the definition of
Certificate Interest Loss.
(e) Notwithstanding anything to the contrary contained
herein, the Company shall have the right to enter into an
agreement substantially in the form of Exhibit K hereto with any
Person that is the Holder of 100% of the Class B5 Certificates
(provided that such form may be revised to delete the option on
the part of such Person to purchase a defaulted Mortgage Loan as
set forth in Section 2.02(f) thereof). Prior to entering into any
such agreement with any Person, the Company shall obtain a
certification from such Person to the effect that (i) such Person
is not an "affiliate" (within the meaning of the Prohibited
Transaction Exemption) of the Trustee and (ii) such Person will
not purchase any Certificates if such purchase would cause such
Person to hold more than a ten percent interest in the Mortgage
Pool. It is understood that the right of the Company to be
reimbursed for Monthly Advances and Nonrecoverable Advances under
this Agreement shall not be affected in any way by the provisions
of any such agreement. The
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Trustee hereby agrees to perform such obligations as may be
expressly required of it pursuant to the provisions of such
agreement and to promptly notify each party to such agreement if
a Responsible Officer of the Trustee (with direct responsibility
for administration of this Agreement) becomes aware of any
discussions, plans or events that might lead to the Trustee's
becoming an "affiliate" (within the meaning of the Prohibited
Transaction Exemption) of any Person with which the Company has
entered into such agreement, provided that the contents of any
such notification shall be kept confidential by the parties to
such agreement. The Company agrees to promptly notify the Trustee
upon entering into any such agreement. In addition, the Company
shall provide the Trustee with such information as may be
necessary for the Trustee to perform its obligations thereunder,
including written instructions, clearly identifying the source,
amount and application of funds to be deposited or withdrawn from
the Collateral Fund (as defined in such agreement). The Trustee
shall provide the Company with such information concerning
credits and debits to the Collateral Fund on account of income,
gains and losses realized from Collateral Fund Permitted
Investments (as defined in such agreement), and costs associated
with the purchase and sale thereof, as the Company may request in
order to prepare the instructions described in the preceding
sentence.
In addition, subject to the provisions of the
preceding paragraph, the Company shall have the right to enter
into an agreement substantially in the form of Exhibit K hereto
with the Person that is the Holder of 100% of the Class B4
Certificates, provided that (i) such Person is also the Holder of
100% of the Class B5 Certificates, (ii) such Person shall have no
rights under such agreement until the date on which the Class
Certificate Principal Balance of the Class B5 Certificates has
been reduced to zero, and (iii) any rights of such Person under
such agreement shall terminate in the event that such Person
transfers, directly or indirectly, the Class B4 Certificates to
any other Person.
Section 3.09. Trustee to Cooperate; Release of Mortgage
Files. Upon the payment in full of any Mortgage Loan, the Company
will immediately notify the Trustee by a certification (which
certification shall include a statement to the effect that all
amounts received in connection with such payment which are
required to be credited to the Mortgage Loan Payment Record
pursuant to Section 3.02 have been so credited) of a Servicing
Officer and shall request delivery to it of the Mortgage File. If
a Buydown Mortgage Loan is the subject of a Principal Prepayment
in full during the related Buydown Period, the related Buydown
Funds will be applied or returned to the Person entitled thereto
in accordance with the terms of such Buydown Mortgage Loan. Upon
receipt of such certification and request in form satisfactory to
the Trustee, the Trustee shall promptly, but in any event within
five Business Days, release the related Mortgage File to the
Company; provided, that the Trustee shall not be responsible for
any delay in the release of a Mortgage File resulting from acts
beyond its control, including without limitation, acts of God,
strikes, lockouts, riots, acts of war or terrorism, epidemics,
nationalization, governmental regulations imposed after the fact,
fire, communication line failures, computer viruses, power
failures, earthquakes or other disasters. Upon any such payment
in full, the Company is authorized to execute, pursuant to the
authorization contained in Section 3.01, an instrument of
satisfaction regarding such Mortgage, which instrument of
satisfaction shall be recorded by the Company if required by
applicable law and be delivered to the Person entitled thereto,
it being understood and agreed that no expenses incurred in
connection with such instrument of satisfaction shall be
reimbursed from amounts at the time credited to the Mortgage Loan
Payment Record. From time to time and as appropriate for the
servicing or foreclosure of
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any Mortgage Loan (including, without limitation, collection
under any Primary Insurance Policy), the Trustee shall, upon
request of the Company and delivery to the Trustee of a receipt
signed by a Servicing Officer, release the related Mortgage File
to the Company and shall execute such documents as shall be
necessary to the prosecution of any such proceedings. Such
receipt shall obligate the Company to return the Mortgage File to
the Trustee when the need therefor by the Company no longer
exists unless the Mortgage Loan shall be liquidated, in which
case, upon receipt of a certificate of a Servicing Officer
similar to that hereinabove specified, the receipt shall be
released by the Trustee to the Company.
Section 3.10. Servicing Compensation; Payment of Certain
Expenses by the Company. (a) As compensation for its activities
and obligations hereunder, the Company shall be entitled to
withhold and pay to itself out of each payment received by it on
account of interest on each Mortgage Loan (including the portion
of any Buydown Funds applied to the related Buydown Mortgage Loan
for the applicable period) an amount equal to the Servicing Fee.
The aggregate of the Servicing Fees payable to the Company on any
Distribution Date shall be reduced by the amount of any
Compensating Interest Payment for such Distribution Date.
Additional servicing compensation in the form of Prepayment
Interest Excess, assumption fees, modification fees, late payment
charges, interest income or gain with respect to amounts
deposited in the Certificate Account and invested by the Company
or otherwise shall be retained by the Company, subject to Section
3.10(b), if applicable. The Company shall be required to pay all
expenses incurred by it in connection with its activities
hereunder (including payment of Trustee fees and all other fees
and expenses not expressly stated hereunder to be for the account
of the Certificateholders) and shall not be entitled to
reimbursement therefor except as provided in Sections 3.01, 3.03,
3.04 and 3.08.
(b) The Company may, as a condition to granting any request
by a Mortgagor for any consent, modification, waiver or amendment
or any other matter or thing, the granting of which is in the
Company's discretion pursuant to the terms of the instruments
evidencing or securing the related Mortgage Loan and is permitted
by other sections of this Agreement, require (to the extent
permitted by applicable law) that such Mortgagor pay to it a
reasonable or customary fee in accordance with the schedule set
forth as Exhibit H (which may be amended from time to time by
provision of a revised schedule of such fees to the Trustee,
whereupon such revised schedule shall be deemed to be Exhibit H
hereunder) for the additional services performed in connection
with such request, together with any related costs and expenses
incurred by it. Such fees shall be additional servicing
compensation to the Company.
Section 3.11. Reports to the Trustee; Certificate Account
Statements. Not later than 15 days after each Distribution Date,
the Company shall forward to the Trustee a statement, certified
by a Servicing Officer, setting forth the status of the Mortgage
Loan Payment Record as of the close of business on such
Distribution Date and showing, for the period covered by such
statement, the aggregate of credits to the Mortgage Loan Payment
Record for each category of credit specified in Section 3.02 and
each category of debit specified in Section 3.04.
Section 3.12. Annual Statement as to Compliance. The
Company will deliver to the Trustee, on or before March 31 of
each year, beginning with March 31, 2000, an Officer's
Certificate stating that (a) a review of the activities of the
Company during the preceding calendar year and of its performance
under this Agreement has been made under such Officer's
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supervision and (b) to the best of such Officer's knowledge,
based on such review, the Company has fulfilled all its material
obligations under this Agreement throughout such year, or, if
there has been a default in the fulfillment of any such
obligation, specifying each such default known to such Officer
and the nature and status thereof.
Section 3.13. Annual Independent Public Accountants'
Servicing Report. On or before March 31 of each year, beginning
with March 31, 2000, the Company shall:
(a) furnish to a firm of independent public accountants
(which may also render other services to the Company) a statement
substantially to the effect that the Company has complied in all
material respects with the minimum servicing standards set forth
in the Uniform Single Attestation Program for Mortgage Bankers
(the "Minimum Servicing Standards") with respect to the mortgage
loans in the Company's servicing portfolio (which may exclude
home equity loans) or, if there has been material noncompliance
with such servicing standards, containing a description of such
noncompliance; and
(b) at its expense cause such firm of independent public
accountants to furnish a report to the Trustee stating its
opinion as to the Company's assertion contained in the statement
delivered pursuant to Section 3.13(a), which opinion shall be
based on an examination conducted by such firm in accordance with
the standards established by the American Institute of Certified
Public Accountants, including examining, on a test basis,
evidence about the Company's compliance with the Minimum
Servicing Standards. Such opinion shall be to the effect that the
Company has complied in all material respects with the Minimum
Servicing Standards with respect to the mortgage loan portfolio
described in the Company's statement delivered pursuant to
Section 3.13(a) hereof or if there has been material
noncompliance with the Minimum Servicing Standards, shall contain
a description of such noncompliance in accordance with applicable
accounting standards. In rendering such report, such firm may
rely, as to matters relating to direct servicing of Mortgage
Loans by any primary servicer, upon comparable reports of
independent public accountants with respect to such primary
servicer.
Section 3.14. Access to Certain Documentation and
Information Regarding the Mortgage Loans. To the extent permitted
by applicable law, the Company shall provide to the Trustee,
Certificateholders which are regulated insurance entities and the
applicable insurance regulatory agencies thereof,
Certificateholders which are federally insured savings and loan
associations, the Office of Thrift Supervision, the FDIC and the
supervisory agents and examiners thereof access to the
documentation regarding the Mortgage Loans required by applicable
regulations of the Office of Thrift Supervision or of such
insurance regulatory agencies, as the case may be, such access
being afforded without charge but only upon reasonable request
and during normal business hours at the offices of the Company.
Nothing in this Section 3.14 shall derogate from the obligation
of the Company to observe any applicable law prohibiting
disclosure of information regarding the Mortgagors and the
failure of the Company to provide access as provided in this
Section 3.14 as a result of such obligation shall not constitute
a breach of this Section 3.14.
Section 3.15. Maintenance of Certain Servicing Policies.
The Company shall during the term of its service as servicer
maintain in force (i) a policy or policies of insurance covering
errors and omissions in the performance of its obligations as
servicer hereunder and (ii) a fidelity
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bond in respect of its officers, employees or agents. Each such
policy or policies and bond shall, together, comply with the
requirements from time to time of FNMA for persons performing
servicing for mortgage loans purchased by such association.
Section 3.16. Optional Purchase of Defaulted Mortgage
Loans. The Company shall have the right, but not the obligation,
to purchase any Defaulted Mortgage Loan for a price equal to the
Purchase Price therefor. Any such purchase shall be accomplished
as provided in Section 4.04(a) hereof.
ARTICLE IV
PAYMENTS AND STATEMENTS
Section 4.01. Distributions. (a) On each Distribution Date,
the Trustee shall withdraw the Available Funds from the
Certificate Account and shall make distributions to Holders of
the Certificates as of the preceding Record Date in the following
order of priority, to the extent of the remaining Available
Funds:
(i) to each Class of Senior Certificates (other
than any Class of Principal Only Certificates), the
Accrued Certificate Interest thereon for such
Distribution Date; provided, however, that Accrued
Certificate Interest on the Class A9 Certificates for
such Distribution Date shall be applied in the manner
provided in Section 4.01(e); and provided further,
that any shortfall in available amounts shall be
allocated among such Classes in proportion to the
amount of Accrued Certificate Interest that would
otherwise be distributable thereto (or added to the
balance thereof);
(ii) to each Class of Senior Certificates (other
than any Class of Principal Only Certificates), any
related Unpaid Class Interest Shortfall for such
Distribution Date; provided, however, that any Unpaid
Class Interest Shortfall for the Class A9 Certificates
for such Distribution Date shall be applied in the
manner provided in Section 4.01(e); and provided
further, that any shortfall in available amounts shall
be allocated among such Classes in proportion to the
Unpaid Class Interest Shortfall for each such Class on
such Distribution Date;
(iii) to the Classes of Senior Certificates in
reduction of the Class Certificate Principal Balances
thereof, as set forth in Exhibit O hereto without
regard to the use therein of the word "approximate" or
any derivation thereof; provided, however, that
defined terms used in Exhibit O shall have the
meanings assigned thereto in Article I hereof or, in
the case of the term "Group I Senior Principal
Distribution Amount," as defined in Exhibit O;
(iv) to the Class PO Certificates, any Class PO
Deferred Amount for such Distribution Date, up to an
amount not to exceed the Junior Optimal Principal
Amount for such Distribution Date, until the Class
Certificate Principal Balance of such Class has been
reduced to zero; provided, that any such amounts
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distributed to the Class PO Certificates pursuant to
this clause (iv) shall not reduce the Class
Certificate Principal Balance thereof;
(v) to the Class M Certificates, the Accrued
Certificate Interest thereon for such Distribution
Date;
(vi) to the Class M Certificates, any Unpaid
Class Interest Shortfall therefor on such Distribution
Date;
(vii) to the Class M Certificates, in reduction
of the Class Certificate Principal Balance thereof,
such Class's Allocable Share of the Junior Optimal
Principal Amount on such Distribution Date;
(viii) to the Class B1 Certificates, the Accrued
Certificate Interest thereon for such Distribution
Date;
(ix) to the Class B1 Certificates, any Unpaid
Class Interest Shortfall therefor on such Distribution
Date;
(x) to the Class B1 Certificates, in reduction of
the Class Certificate Principal Balance thereof, such
Class's Allocable Share of the Junior Optimal
Principal Amount on such Distribution Date;
(xi) to the Class B2 Certificates, the Accrued
Certificate Interest thereon for such Distribution
Date;
(xii) to the Class B2 Certificates, any Unpaid
Class Interest Shortfall therefor on such Distribution
Date;
(xiii) to the Class B2 Certificates, in reduction
of the Class Certificate Principal Balance thereof,
such Class's Allocable Share of the Junior Optimal
Principal Amount on such Distribution Date;
(xiv) to the Class B3 Certificates, the Accrued
Certificate Interest thereon for such Distribution
Date;
(xv) to the Class B3 Certificates, any Unpaid
Class Interest Shortfall therefor on such Distribution
Date;
(xvi) to the Class B3 Certificates, in reduction
of the Class Certificate Principal Balance thereof,
such Class's Allocable Share of the Junior Optimal
Principal Amount on such Distribution Date;
(xvii) to the Class B4 Certificates, the Accrued
Certificate Interest thereon for such Distribution
Date;
(xviii) to the Class B4 Certificates, any Unpaid
Class Interest Shortfall therefor on such Distribution
Date;
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(xix) to the Class B4 Certificates, in reduction
of the Class Certificate Principal Balance thereof,
such Class's Allocable Share of the Junior Optimal
Principal Amount on such Distribution Date;
(xx) to the Class B5 Certificates, the Accrued
Certificate Interest thereon for such Distribution
Date;
(xxi) to the Class B5 Certificates, any Unpaid
Class Interest Shortfall therefor on such Distribution
Date; and
(xxii) to the Class B5 Certificates, in reduction
of the Class Certificate Principal Balance thereof,
such Class's Allocable Share of the Junior Optimal
Principal Amount on such Distribution Date.
Notwithstanding the foregoing, amounts otherwise distributable
pursuant to clauses (vii), (x), (xiii), (xvi), (xix) and (xxii)
on any Distribution Date shall be reduced, in inverse order of
priority, by any amount distributed pursuant to clause (iv) on
such date, such that such amount distributed pursuant to clause
(iv) on such date shall be applied first to reduce the amount
distributable pursuant to clause (xxii), and then, to the extent
of any excess, applied second, to reduce the amount distributable
pursuant to clause (xix), third, to reduce the amount
distributable pursuant to clause (xvi), fourth, to reduce the
amount distributable pursuant to clause (xiii), fifth, to reduce
the amount distributable pursuant to clause (x) and sixth, to
reduce the amount distributable pursuant to clause (vii).
(b) On each Distribution Date, the Trustee shall distribute
to the holder of the Class R Certificate any remaining Available
Funds for such Distribution Date after application of all amounts
described in clause (a) of this Section 4.01, together with any
Unanticipated Recoveries received by the Company in the calendar
month preceding the month of such Distribution Date and not
distributed on such Distribution Date to the holders of
outstanding Certificates of any other Class pursuant to Section
4.01(f). Any distributions pursuant to this clause (b) shall not
reduce the Class Certificate Principal Balance of the Class R
Certificate.
(c) If on any Distribution Date the Class Certificate
Principal Balances of the Junior Certificates have each been
reduced to zero, the amount distributable to the Senior
Certificates other than the Class PO Certificates pursuant to
Section 4.01(a)(iii) for such Distribution Date and each
succeeding Distribution Date shall be allocated among such
Classes of Senior Certificates, pro rata, on the basis of their
respective Class Certificate Principal Balances immediately prior
to such Distribution Date, regardless of the priorities and
amounts set forth in Section 4.01(a)(iii).
(d) If on any Distribution Date (i) the Class Certificate
Principal Balance of the Class M Certificates or any Class of
Class B Certificates for which the related Prepayment
Distribution Trigger was satisfied on such Distribution Date is
reduced to zero and (ii) amounts distributable pursuant to
clauses (ii), (iv) and (v) of the Junior Optimal Principal Amount
remain undistributed on such Distribution Date after all amounts
otherwise distributable on such date pursuant to clauses (iv)
through (xxii) of Section 4.01(a) have been distributed, such
amounts shall be distributed on such Distribution Date to the
remaining Classes of Junior Certificates in order of
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priority, such that no such distribution shall be made to any
Class of Junior Certificates while a prior such Class is
outstanding.
(e) On each Distribution Date through the Accretion
Termination Date, all or a portion of the amounts allocable to
the Class A9 Certificates pursuant to clauses (a)(i) and (a)(ii)
of this Section 4.01 shall not be distributable to the Class A9
Certificates pursuant to such clauses but shall instead be (i)
added to the Class Certificate Principal Balance thereof to the
extent of the Accrual Amount for such Distribution Date, and (ii)
distributed to the following Classes of Certificates, before any
distributions are made pursuant to Section 4.01(a)(iii), in the
following order of priority:
first, to the Class A7 Certificates, until the Class
Certificate Principal Balance thereof has been reduced to
zero;
second, to the Class A8 Certificates, until the Class
Certificate Principal Balance thereof has been reduced to
zero; and
third, to the Class A9 Certificates, as Accrued
Certificate Interest thereon.
On each Distribution Date occurring after the
Accretion Termination Date, amounts allocable to the Class A9
Certificates pursuant to clauses (a)(i) and (a)(ii) of this
Section 4.01 shall be distributable on such Distribution Date
pursuant to such clauses to Holders of the Class A9 Certificates
as Accrued Certificate Interest.
(f) In the event that in any calendar month the Company
recovers an amount (an "Unanticipated Recovery") in respect of
principal of a Mortgage Loan which had previously been allocated
as a Realized Loss to any Class of Certificates pursuant to
Section 4.03, on the Distribution Date in the next succeeding
calendar month the Trustee shall withdraw from the Certificate
Account and distribute to the holders of each outstanding Class
to which such Realized Loss had previously been allocated its
share (determined as described in the succeeding paragraph) of
such Unanticipated Recovery in an amount not to exceed the amount
of such Realized Loss previously allocated to such Class. When
the Class Certificate Principal Balance of a Class of
Certificates has been reduced to zero, the holders of such Class
shall not be entitled to any share of an Unanticipated Recovery,
and such Unanticipated Recovery shall be allocated among all
outstanding Classes of Certificates entitled thereto in
accordance with the preceding sentence, subject to the remainder
of this subsection (f). In the event that (i) any Unanticipated
Recovery remains undistributed in accordance with the preceding
sentence or (ii) the amount of an Unanticipated Recovery exceeds
the amount of the Realized Loss previously allocated to any
outstanding Classes with respect to the related Mortgage Loan, on
the applicable Distribution Date the Trustee shall distribute to
the holders of all outstanding Classes of the related
Certificates to which Realized Losses had previously been
allocated and not reimbursed their pro rata share (determined as
described below) of such excess in an amount not to exceed the
aggregate amount of any Realized Loss previously allocated to
such Class with respect to any other Mortgage Loan that has not
been recovered in accordance with this subsection (f). Any
distributions made pursuant to this subsection (f) shall not
reduce the Class Certificate Principal Balance of the related
Certificate.
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For purposes of the preceding paragraph, the share of
an Unanticipated Recovery allocable to any Class of Certificates
with respect to a Mortgage Loan shall be (i) with respect to the
Class PO Certificates, based on the applicable PO Percentage of
the principal portion of the Realized Loss previously allocated
thereto with respect to such Mortgage Loan (or all Mortgage Loans
for purposes of the next to last sentence of the preceding
paragraph), and (ii) with respect to any other Class of
Certificates, based on its pro rata share (in proportion to the
Class Certificate Principal Balances thereof with respect to such
Distribution Date) of the applicable Non-PO Percentage of the
principal portion of any such Realized Loss previously allocated
with respect to such Mortgage Loan (or Loans); provided, however,
that (i) the share of an Unanticipated Recovery allocable to a
Class PO Certificate with respect to any Mortgage Loan (or Loans)
shall be reduced by the aggregate amount previously distributed
to such Class on account of the applicable Class PO Deferred
Amount in respect of such Mortgage Loan (or Loans) and (ii) the
amount by which the distributions to the Class PO Certificates
have been so reduced shall be distributed to the Classes of
Certificates described in clause (ii) of the preceding paragraph
in the same proportion as described in such clause (ii). For
purposes of the preceding sentence, any Class PO Deferred Amount
distributed to a Class PO Certificate on previous Distribution
Dates shall be deemed to have been allocated in respect of the
Mortgage Loans as to which the applicable PO Percentage of the
principal portion of Realized Losses has previously been
allocated to such Class on a pro rata basis (based on the amount
of Realized Losses so allocated).
Section 4.02. Method of Distribution. (a) All distributions
with respect to each Class of Certificates on each Distribution
Date shall be made pro rata among the outstanding Certificates of
such Class, based on the Percentage Interest in such Class
represented by each Certificate. Payments to the
Certificateholders on each Distribution Date will be made by the
Trustee to the Certificateholders of record on the related Record
Date (other than as provided in Section 9.01 respecting the final
distribution) by check or money order mailed to a
Certificateholder at the address appearing in the Certificate
Register, or upon written request by such Certificateholder to
the Trustee made not later than the applicable Record Date, by
wire transfer to a U.S. depository institution acceptable to the
Trustee, or by such other means of payment as such
Certificateholder and the Trustee shall agree.
(b) Each distribution with respect to a Book-Entry
Certificate shall be paid to the Depository, which shall credit
the amount of such distribution to the accounts of its Depository
Participants in accordance with its normal procedures. Each
Depository Participant shall be responsible for disbursing such
distribution to the Certificate Owners that it represents and to
each Financial Intermediary for which it acts as agent. Each
Financial Intermediary shall be responsible for disbursing funds
to the Certificate Owners that it represents. All such credits
and disbursements with respect to a Book-Entry Certificate are to
be made by the Depository and the Depository Participants in
accordance with the provisions of the applicable Certificates.
Neither the Trustee nor the Company shall have any responsibility
therefor except as otherwise provided by applicable law.
(c) The Trustee shall withhold or cause to be withheld such
amounts as it reasonably determines are required by the Code
(giving full effect to any exemptions from withholding and
related certifications required to be furnished by
Certificateholders or Certificate Owners and any reductions to
withholding by virtue of any bilateral tax treaties and any
applicable certification
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required to be furnished by Certificateholders or Certificate
Owners with respect thereto) from distributions to be made to
Non-U.S. Persons. If the Trustee reasonably determines that a
more accurate determination of the amount required to be withheld
for a distribution can be made within a reasonable period after
the scheduled date for such distribution, it may hold such
distribution in trust for a holder of a Residual Certificate
until such determination can be made. For the purposes of this
paragraph, a "Non-U.S. Person" is (i) an individual other than a
citizen or resident of the United States, (ii) a partnership,
corporation or entity treated as a partnership or corporation for
U.S. federal income tax purposes not formed under the laws of the
United States, any state thereof or the District of Columbia
(unless, in the case of a partnership, Treasury regulations
provide otherwise), (iii) any estate, the income of which is not
subject to U.S. federal income taxation, regardless of source,
and (iv) any trust, other than a trust that a court within the
United States is able to exercise primary supervision over the
administration of the trust and one or more U.S. Persons have the
authority to control all substantial decisions of the trust.
Section 4.03. Allocation of Losses. (a) On or prior to each
Determination Date, the Company shall determine the amount of any
Realized Loss in respect of each Mortgage Loan that occurred
during the immediately preceding calendar month.
(b) With respect to any Distribution Date, the principal
portion of each Realized Loss (other than any Excess Loss) shall
be allocated as follows:
(i) the applicable PO Percentage of the principal
portion of any such Realized Loss shall be allocated
to the Class PO Certificates until the Class
Certificate Principal Balance thereof has been reduced
to zero; and
(ii) the applicable Non-PO Percentage of the
principal portion of any such Realized Loss shall be
allocated in the following order of priority:
first, to the Class B5 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero;
second, to the Class B4 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero;
third, to the Class B3 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero;
fourth, to the Class B2 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero;
fifth, to the Class B1 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero;
sixth, to the Class M Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero; and
seventh, to the Classes of Senior Certificates
other than the Class PO Certificates, pro rata, in
accordance with their Class Certificate Principal
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Balances; provided, that any such loss allocated to
any Class of Accrual Certificates (and any Accrual
Component) shall be allocated (subject to Section
4.03(d)) on the basis of the lesser of (x) the Class
Certificate Principal Balance (or Component Principal
Balance) thereof immediately prior to the applicable
Distribution Date and (y) the Class Certificate
Principal Balance (or Component Principal Balance)
thereof on the Closing Date (as reduced by any
Realized Losses previously allocated thereto).
(c) With respect to any Distribution Date, the principal
portion of any Excess Loss (other than Excess Bankruptcy Losses
attributable to Debt Service Reductions) shall be allocated as
follows: (1) the PO Percentage of any such loss shall be
allocated to the Class PO Certificates, and (2) the Non-PO
Percentage of any such loss shall be allocated to each Class of
Certificates other than the Class PO Certificates, pro rata,
based on the respective Class Certificate Principal Balances
thereof; provided, that any such loss allocated to any Class of
Accrual Certificates (and any Accrual Component) shall be
allocated (subject to Section 4.03(d)) on the basis of the lesser
of (x) the Class Certificate Principal Balance (or Component
Principal Balance) thereof immediately prior to the applicable
Distribution Date and (y) the Class Certificate Principal Balance
(or Component Principal Balance) thereof on the Closing Date (as
reduced by any Realized Losses previously allocated thereto).
(d) Any Realized Losses allocated to a Class of
Certificates pursuant to Section 4.03(b) or (c) shall be
allocated among the Certificates of such Class in proportion to
their respective Certificate Principal Balances. In addition, any
Realized Losses allocated to any Class of Component Certificates
on a Distribution Date shall be allocated in reduction of the
Component Principal Balances of the related Components (other
than any Notional Component) in proportion to their respective
Component Principal Balances immediately prior to such
Distribution Date. Any allocation of Realized Losses pursuant to
this paragraph (d) shall be accomplished by reducing the
Certificate Principal Balance (or, in the case of any Component,
the Component Principal Balance) of the related Certificates (or
Components) on the related Distribution Date in accordance with
Section 4.03(e).
(e) Realized Losses allocated in accordance with this
Section 4.03 shall be allocated on the Distribution Date in the
month following the month in which such loss was incurred and, in
the case of the principal portion thereof, after giving effect to
distributions made on such Distribution Date, except that the
aggregate amount of Realized Losses to be allocated to the Class
PO Certificates on such Distribution Date will be taken into
account in determining distributions in respect of any Class PO
Deferred Amount for such date.
(f) On each Distribution Date, the Company shall determine
the Subordinate Certificate Writedown Amount, if any. Any such
Subordinate Certificate Writedown Amount shall effect a
corresponding reduction in the Certificate Principal Balance of
the Subordinate Certificates, which reduction shall occur on such
Distribution Date after giving effect to distributions made on
such Distribution Date.
(g) Notwithstanding the foregoing, no such allocation of
any Realized Loss shall be made on a Distribution Date to a Class
of Certificates to the extent that such allocation would result
in the reduction of the aggregate Certificate Principal Balances
of all the Certificates as of
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such Distribution Date, after giving effect to all distributions
and prior allocations of Realized Losses on such date, to an
amount less than the aggregate Scheduled Principal Balance of the
Mortgage Loans as of the first day of the month of such
Distribution Date, less any Deficient Valuations occurring on or
prior to the Bankruptcy Coverage Termination Date (such
limitation, the "Loss Allocation Limitation").
Section 4.04. Monthly Advances; Purchases of Defaulted
Mortgage Loans. (a) The Company shall be required to make Monthly
Advances in the manner and to the extent provided herein. Prior
to the close of business on each Determination Date, the Company
shall determine (i) the amount of the Monthly Advance which it is
required to make on the related Distribution Date and (ii)
whether it has elected to purchase any Defaulted Mortgage Loan or
Loans on such Distribution Date. If the Company so elects to
purchase any Defaulted Mortgage Loans (or is required to purchase
any Mortgage Loan pursuant to Section 2.02 or 2.03(a)), no
Monthly Advance shall be required with respect thereto for the
month in which such purchase occurs. The Company shall include
information as to each of such determinations in the Servicer's
Certificate furnished by it to the Trustee in accordance with
Section 4.06 and shall be obligated to transfer to the
Certificate Account pursuant to Section 3.02(d) on or before
11:00 a.m. New York time on the Business Day next preceding the
following Distribution Date in next-day funds the respective
amounts applicable to such determinations appearing in such
Servicer's Certificate. Upon receipt by the Trustee of written
notification signed by a Servicing Officer of any such deposit
relating to the purchase by the Company of such a Mortgage Loan,
the Trustee shall release to the Company the related Mortgage
File and shall execute and deliver such instruments of transfer
or assignment, in each case without recourse, as shall be
necessary to vest in the Company any Mortgage Loan released
pursuant hereto.
(b) In the event that the Company transfers or expects to
transfer less than the Available Funds required to be deposited
by it pursuant to Section 3.02(d), the Company shall so notify
the Trustee no later than 9:00 a.m. on the Business Day preceding
the related Distribution Date, and the amount so transferred, if
any, shall be deemed to have been transferred first pursuant to
clause (i) of the definition of Available Funds, second pursuant
to clause (iii) of the definition of Available Funds, and third
pursuant to clause (ii) of the definition of Available Funds.
Such notice shall specify each Mortgage Loan delinquent as of the
preceding Determination Date. In such event, the Trustee shall
make any Monthly Advance required to be made hereunder, in the
manner and to the extent required; provided, the Trustee shall
not be so obligated if prohibited by applicable law.
(c) In the event that the Company is succeeded hereunder as
servicer, the obligation to make Monthly Advances in the manner
and to the extent required by Section 4.04(a) shall be assumed by
the successor servicer (subject to Section 7.02).
Section 4.05. Statements to Certificateholders. Each month,
at least two Business Days prior to each Distribution Date, the
Company shall deliver to the Trustee for mailing to each
Certificateholder, and the Trustee shall mail to each
Certificateholder on such Distribution Date, a statement (each, a
"Distribution Date Statement") substantially in the form of
Exhibit J hereto, setting forth:
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(i) The amount of such distribution to the
Certificateholders of each Class (and in respect of
any Component), other than any Notional Certificates
(and any Notional Component), allocable to principal,
separately identifying the aggregate amount of any
Principal Prepayments included therein (including, for
this purpose, the Scheduled Principal Balances of all
Defaulted Mortgage Loans and Defective Mortgage Loans
purchased pursuant to Section 2.02, 2.03(b) or 3.16,
respectively, and any amounts deposited pursuant to
Section 2.03(b) in connection with the substitution of
any Mortgage Loans pursuant to Section 2.02 or
2.03(a), the proceeds of which purchases or
substitutions are being distributed on such
Distribution Date);
(ii) The amount of such distribution to the
Certificateholders of each Class (other than any Class
of Principal Only Certificates) allocable to interest,
including any Accrual Amount added to the Class
Certificate Principal Balance or Component Principal
Balance of any Class of Accrual Certificates or any
Accrual Components;
(iii) The amount of servicing compensation paid
to the Company during the month preceding the month of
distribution in respect of the Mortgage Loans and such
other customary information as the Company deems
necessary or desirable to enable Certificateholders to
prepare their tax returns;
(iv) The Pool Scheduled Principal Balance and the
aggregate number of the Mortgage Loans on the
preceding Due Date after giving effect to all
distributions allocable to principal made on such
Distribution Date;
(v) The Class Certificate Principal Balance (or
Notional Principal Balance) of each Class, the
Component Principal Balance of each Component and the
Certificate Principal Balance (or Notional Principal
Balance) of a Single Certificate of each Class after
giving effect to (i) all distributions allocable to
principal (or reductions in the Notional Principal
Balance, in the case of the Notional Certificates, or
the addition of any Accrual Amount, in the case of any
Class of Accrual Certificates) made on such
Distribution Date and (ii) the allocation of any
Realized Losses and any Subordinate Certificate
Writedown Amount for such Distribution Date;
(vi) The Pay-out Rate applicable to each Class of
Certificates;
(vii) The book value and unpaid principal balance
of any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a
deed in lieu of foreclosure or otherwise, of any REO
Mortgage Loan, and the number of the related Mortgage
Loans;
(viii) The aggregate Scheduled Principal Balances
and number of Mortgage Loans which, as of the close of
business on the last day of the month preceding the
related Distribution Date, were (a) delinquent as to a
total of (x) 30-59 days, (y) 60-89 days and (z) 90
days or more, and (b) in foreclosure;
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(ix) The Scheduled Principal Balance of any
Mortgage Loan replaced pursuant to Section 2.03(b);
(x) The Certificate Interest Rates of any LIBOR
Certificates and any COFI Certificates applicable to
the Interest Accrual Period relating to such
Distribution Date and such Class;
(xi) The Senior Percentage, the Group II Senior
Percentage, the Group II Senior Scheduled Distribution
Percentage and the Junior Percentage for such
Distribution Date;
(xii) The Senior Prepayment Percentage, the Group
II Senior Prepayment Distribution Percentage and the
Junior Prepayment Percentage for such Distribution
Date; and
(xiii) The amount of such distribution to the
Certificateholders of each Class allocable to
Unanticipated Recoveries.
In the case of information furnished pursuant to
clauses (i) through (iii) above, the amounts shall be expressed
as a dollar amount per Single Certificate.
In connection with any proposed transfer of a
Certificate that is purported to be made in reliance on Rule 144A
under the Securities Act, the Company shall be responsible for
furnishing such information as may be required thereunder to a
proposed transferee. In furtherance of the Company's obligations
hereunder, the Company hereby instructs the Trustee, at the
Company's expense and on its behalf, and the Trustee agrees, to
promptly make available to the proposed transferee, upon request
of the holder, (i) all statements furnished to Certificateholders
pursuant to this Section 4.05(a) on previous Distribution Dates,
(ii) all certificates furnished to the Trustee pursuant to
Section 4.06 in prior months, (iii) Officer's Certificates
furnished to the Trustee pursuant to Section 3.12 for the two
years preceding such request, (iv) reports of independent
accountants furnished to the Trustee pursuant to Section 3.13 for
the two years preceding such request, (v) a copy of the Private
Placement Memorandum relating to such Certificate, together with
any amendments or supplements thereto issued by the Company
(which copy shall be furnished to the Trustee by the Company),
and (vi) the Company's Current Report on Form 8-K, dated the
Closing Date, relating to the Mortgage Loans; provided, however,
that the Trustee shall in no event be required to make available
such statements or certificates pursuant to clauses (i) and (ii)
above relating to Distribution Dates occurring more than
twenty-four months preceding the month in which such request was
received; provided, further, however, that notwithstanding the
Trustee's agreement as aforesaid to provide such materials to a
proposed transferee, the Trustee does not assume, and shall not
thereby be deemed to have assumed, any responsibility for
compliance by the Company with Rule 144A (subject to the
Trustee's agreement set forth in the second sentence of this
paragraph) and shall be entitled to include a notice with such
statements or certificates to the effect that such materials have
not been prepared or assembled by the Trustee and that the
Trustee assumes no responsibility for the adequacy, sufficiency
or contents thereof. In connection with any such proposed
transfer, the Company shall make available to the proposed
holder, at the request of the
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related transferor, such additional information, if any, as may
be required to be delivered pursuant to Rule 144A(d)(4).
Section 4.06. Servicer's Certificate. Each month, not later
than the second Business Day next preceding each Distribution
Date, the Company shall deliver to the Trustee a completed
Servicer's Certificate.
Section 4.07. Reports of Foreclosures and Abandonments of
Mortgaged Property. The Trustee (or the Company on behalf of the
Trustee) shall, in each year beginning after 1998, make the
reports of foreclosures and abandonments of any Mortgaged
Property as required by section 6050J of the Code. In order to
facilitate this reporting process, the Company, on or before
January 15th of each year, shall provide to the Trustee reports
relating to each instance occurring during the previous calendar
year in which the Company (i) on behalf of the Trustee acquires
an interest in a Mortgaged Property through foreclosure or other
comparable conversion in full or partial satisfaction of a
Mortgage Loan, or (ii) knows or has reason to know that a
Mortgaged Property has been abandoned. Reports from the Company
shall be in form and substance sufficient to meet the reporting
requirements imposed by section 6050J of the Code.
Section 4.08. Reduction of Base Servicing Fees by
Compensating Interest Payments. The aggregate amount of the Base
Servicing Fees subject to retention by the Company as servicer in
respect of any Distribution Date shall be reduced by the amount
of any Compensating Interest Payment for such Distribution Date.
Section 4.09. Surety Bond. (a) If a Required Surety Payment
is payable pursuant to the Surety Bond with respect to any
Pledged Asset Mortgage Loan, the Company shall so notify the
Trustee as soon as reasonably practicable and shall, on behalf of
the Trustee for the benefit of the Certificateholders, promptly
complete the notice in the form of Attachment 1 to the Surety
Bond and shall promptly submit such notice to the Surety as a
claim for a Required Surety Payment.
(b) Upon receipt of a Required Surety Payment from the
Surety on behalf of the Certificateholders, the Company shall
promptly credit the Mortgage Loan Payment Record and shall
distribute such Required Surety Payment, or the proceeds thereof,
in accordance with the provisions of Section 4.01.
ARTICLE V
THE CERTIFICATES
Section 5.01. The Certificates. (a) The Certificates shall
be substantially in the forms set forth in Exhibit A hereto, as
applicable, and shall, on original issue, be executed by the
Trustee, not in its individual capacity but solely as Trustee,
and countersigned and delivered by the Trustee to or upon the
order of the Company as provided in Article II.
(b) The Certificates shall be issued in an aggregate
Initial Certificate Principal Balance of $376,451,913.06. Such
aggregate original principal balance shall be divided among the
Classes having the designations, Class Certificate Principal
Balances, Certificate Interest Rates and minimum denominations as
follows:
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Initial Class
Certificate Certificate
Principal Interest Minimum
Designation Balance Rate Denominations
- ----------- -------------- ----------- -------------
Class A1 $127,825,000.00 6.50% $ 25,000
Class A2 150,750,000.00 6.50 25,000
Class A3 14,906,000.00 6.50 1,000
Class A4 1,000,000.00 6.50 1,000
Class A5 1,000,000.00 6.50 1,000
Class A6 6,733,433.00 7.00 1,000
Class A7 1,000,000.00 6.50 1,000
Class A8 5,000,000.00 6.50 1,000
Class A9 2,000,000.00 6.50 1,000
Class A10 10,520,990.00 (1) 25,000
Class A11 2,945,877.00 (1) 25,000
Class A12 37,645,000.00 6.50 25,000
Class PO 67,341.27 0.00 (2)
Class M 5,646,000.00 6.50 100,000
Class B1 2,824,000.00 6.50 100,000
Class B2 1,882,000.00 6.50 100,000
Class B3 2,447,000.00 6.50 250,000
Class B4 1,129,000.00 6.50 250,000
Class B5 1,130,171.79 6.50 250,000
Class R 100.00 6.50 100
- ----------------------.
(1) The Certificate Interest Rates of the Class A10 and Class
A11 Certificates for each Interest Accrual Period shall be
determined as provided in Section 5.01(e).
(2) The Class PO Certificates will be issued as a single
Certificate evidencing the entire Class Certificate
Principal Balance of such Class.
(c) The Certificates shall be issuable in registered form
only. The Book-Entry Certificates will be evidenced by one or
more certificates, beneficial ownership of which will be held in
the minimum dollar denominations in Certificate Principal Balance
or Notional Principal Balance, as applicable, specified in
Section 5.01(b), and integral multiples of $1,000 in excess
thereof. The Non-Book-Entry Certificates other than the Residual
Certificate shall each be issued in the minimum dollar
denominations in Certificate Principal Balance or Notional
Principal Balance, as applicable, specified in Section 5.01(b),
and integral multiples of $1,000 in excess thereof (and, if
necessary, in the amount of the remaining Class Certificate
Principal Balance or Notional Principal Balance, as applicable,
of each Class, in the case of one Certificate of such Class). The
Residual Certificate shall be issued as a single certificate
evidencing the entire Class Certificate Principal Balance of such
Class and having a Percentage Interest of 100%. If necessary, one
Certificate of each Class of Book-Entry Certificates may evidence
an additional amount equal to the remainder of the Class
Certificate Principal Balance (or Notional Principal Balance) of
such Class.
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(d) The Certificates shall be executed by manual or
facsimile signature on behalf of the Trustee by an authorized
officer under its seal, which may be in facsimile form and be
imprinted or otherwise reproduced thereon. Certificates bearing
the manual or facsimile signatures of individuals who were, at
the time when such signatures were affixed, authorized to sign on
behalf of the Trustee shall bind the Trustee, notwithstanding
that such individuals or any of them have ceased to be so
authorized prior to the authentication and delivery of such
Certificates or did not hold such offices at the date of such
Certificate. No Certificate shall be entitled to any benefit
under this Agreement, or be valid for any purpose, unless such
Certificate shall have been manually countersigned by the Trustee
substantially in the forms set forth in Exhibit A hereto, and
such countersignature upon any Certificate shall be conclusive
evidence, and the only evidence, that such Certificate has been
duly executed and delivered hereunder. All Certificates issued on
the Closing Date shall be dated the Closing Date; all
Certificates issued thereafter shall be dated the date of their
countersignature.
(e) During the first Interest Accrual Period, the
Certificate Interest Rate of the Class A10 Certificates shall be
6.725% per annum. For each subsequent Interest Accrual Period,
the Certificate Interest Rate of the Class A10 Certificates shall
be a per annum rate equal to the lesser of (i) 1.100% plus LIBOR
and (ii) 8.000%, subject to a minimum rate of 1.100%.
During the first Interest Accrual Period, the
Certificate Interest Rate of the Class A11 Certificates shall be
4.553570% per annum. For each subsequent Interest Accrual Period,
the Certificate Interest Rate of the Class A11 Certificates shall
be a per annum rate equal to the lesser of (i) 24.642858% minus
the product of 3.571429 and LIBOR, and (ii) 24.642858%, subject
to a minimum rate of 0.00%.
Section 5.02. Registration of Transfer and Exchange of
Certificates. (a) The Trustee shall cause to be kept at an office
or agency in the city in which the Corporate Trust Office of the
Trustee is located or in the City of New York, New York a
Certificate Register in which, subject to such reasonable
regulations as it may prescribe, the Trustee shall provide for
the registration of Certificates and of transfers and exchanges
of Certificates as herein provided. The Trustee shall initially
serve as Certificate Registrar for the purpose of registering
Certificates and transfers and exchanges of Certificates as
herein provided.
Subject to Sections 5.02(b) and 5.02(c), upon
surrender for registration of transfer of any Certificate at the
Corporate Trust Office, the Trustee shall execute, authenticate
and deliver, in the name of the designated transferee or
transferees, one or more new Certificates of the same Class in
authorized denominations of a like Percentage Interest.
At the option of a Certificateholder, Certificates may
be exchanged for other Certificates of authorized denominations
of a like Class and Percentage Interest, upon surrender of the
Certificates to be exchanged at any such office or agency.
Whenever any Certificates are so surrendered for exchange the
Trustee shall execute, countersign and deliver the Certificates
which the Certificateholder making the exchange is entitled to
receive. Every Certificate presented or surrendered for
registration of transfer or exchange shall be accompanied by a
written instrument of transfer in form satisfactory to the
Trustee and the Certificate Registrar duly executed by the Holder
thereof or his attorney duly authorized in writing.
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No service charge shall be made for any registration
of transfer or exchange of Certificates, but the Trustee may
require payment of a sum sufficient to cover any tax or
governmental charge that may be imposed in connection with any
transfer or exchange of Certificates.
All Certificates surrendered for registration of
transfer and exchange shall be canceled and subsequently
destroyed by the Trustee and a certificate of destruction shall
be delivered by the Trustee to the Company.
(b) No legal or beneficial interest in all or any portion
of the Residual Certificates may be transferred directly or
indirectly to (i) Disqualified Organization or an agent of a
Disqualified Organization (including a broker, nominee, or
middleman), (ii) an entity that holds REMIC residual securities
as nominee to facilitate the clearance and settlement of such
securities through electronic book-entry changes in accounts of
participating organizations (a "Book-Entry Nominee"), or (iii) an
individual, corporation, partnership or other person unless such
transferee (A) is not a Non-U.S. Person or (B) is a Non-U.S.
Person that holds a Residual Certificate in connection with the
conduct of a trade or business within the United States and has
furnished the transferor and the Trustee with an effective
Internal Revenue Service Form 4224 or (C) is a Non-U.S. Person
that has delivered to both the transferor and the Trustee an
opinion of a nationally recognized tax counsel to the effect that
the transfer of a Residual Certificate to it is in accordance
with the requirements of the Code and the regulations promulgated
thereunder and that such transfer of a Residual Certificate will
not be disregarded for federal income tax purposes (any such
person who is not covered by clause (A), (B) or (C) above being
referred to herein as a "Non-permitted Foreign Holder"), and any
such purported transfer shall be void and have no effect. The
Trustee shall not execute, and shall not authenticate and
deliver, a Residual Certificate in connection with any transfer
thereof unless the transferor shall have provided to the Trustee
an affidavit, substantially in the form attached as Exhibit F
hereto, signed by the transferee, to the effect that the
transferee is not such a Disqualified Organization, an agent
(including a broker, nominee, or middleman) for any entity as to
which the transferee has not received a substantially similar
affidavit, a Book-Entry Nominee or a Non-permitted Foreign
Holder, which affidavit shall contain the consent of the
transferee to any such amendments of this Agreement as may be
required to further effectuate the foregoing restrictions on
transfer of the Residual Certificates to Disqualified
Organizations, Book-Entry Nominees or Non-permitted Foreign
Holders, and an agreement by the Transferee that it will not
transfer a Residual Certificate without providing to the Trustee
an affidavit substantially in the form attached as Exhibit F
hereto and a letter substantially in the form attached as Exhibit
G hereto. Such affidavit shall also contain the statement of the
transferee that (i) it does not have the intention to impede the
assessment or collection of any federal, state or local taxes
legally required to be paid with respect to the Residual
Certificates and (ii) it understands that it may incur tax
liabilities in excess of cash flows generated by a Residual
Certificate and that it intends to pay taxes associated with
holding a Residual Certificate as they become due.
The affidavit described in the preceding paragraph, if
not executed in connection with the initial issuance of the
Residual Certificates, shall be accompanied by a written
statement in the form attached as Exhibit G hereto, signed by the
transferor, to the effect that as of the time of the transfer,
the transferor has (i) no actual knowledge that the transferee is
a Disqualified Organization, Book-Entry Nominee or Non-permitted
Foreign Holder, (ii) no reason to believe that
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the transferee has the intention to impede the assessment or
collection of any federal, state or local taxes legally required
to be paid with respect to a Residual Certificate, and (iii)
conducted a reasonable investigation and found that the
transferee had historically paid its debts as they came due and
found no significant evidence to indicate that the transferee
will not continue to pay its debts as they become due. The
Residual Certificates shall bear a legend referring to the
foregoing restrictions contained in this paragraph and the
preceding paragraph.
Upon notice to the Company that any legal or
beneficial interest in any portion of the Residual Certificates
has been transferred, directly or indirectly, to a Disqualified
Organization or agent thereof (including a broker, nominee, or
middleman) in contravention of the foregoing restrictions, (i)
such transferee shall be deemed to hold the Residual Certificate
in constructive trust for the last transferor who was not a
Disqualified Organization or agent thereof, and such transferor
shall be restored as the owner of such Residual Certificate as
completely as if such transfer had never occurred, provided that
the Company may, but is not required to, recover any
distributions made to such transferee with respect to the
Residual Certificate and return such recovery to the transferor,
and (ii) the Company agrees to furnish to the Internal Revenue
Service and to any transferor of the Residual Certificate or such
agent (within 60 days of the request therefor by the transferor
or agent) such information necessary to the application of
section 860E(e) of the Code as may be required by the Code,
including but not limited to the present value of the total
anticipated excess inclusions with respect to the Residual
Certificate (or portion thereof) for periods after such transfer.
At the election of the Company, the cost to the Company of
computing and furnishing such information may be charged to the
transferor or such agent referred to above; however, the Company
shall in no event be excused from furnishing such information.
The restrictions on transfers of the Residual
Certificates set forth in the preceding three paragraphs shall
cease to apply to transfers (and the applicable portions of the
legend to the Residual Certificates may be deleted) after
delivery to the Trustee of an Opinion of Counsel to the effect
that the elimination of such restrictions will not cause the
REMIC established hereunder to fail to qualify as a REMIC at any
time that the Certificates are outstanding.
No transfer of a Restricted Certificate shall be made
unless such transfer is made pursuant to an effective
registration statement under the Securities Act of 1933, as
amended (the "Act"), and any applicable state securities laws, in
each case as evidenced by an Officer's Certificate, or is exempt
from the registration requirements of the Act and any applicable
state securities laws. In the event of such registration, any
restrictive legends set forth in the form of the relevant
Restricted Certificate in Exhibit A hereto with respect to the
Act and state securities law restrictions shall be removed by the
Trustee upon request of the Holder thereof and automatically upon
exchange or registration of transfer thereof. As a condition to
any transfer that is to be made in reliance upon an exemption
from the Act and such laws of a (i) Class PO Certificate or (ii)
Restricted Junior Certificate to any person other than a QIB (as
certified by the proposed transferee in the form of assignment
attached to the related Certificate), either (x) the Trustee
shall require the transferee to execute an investment letter in
the form substantially as set forth in Exhibit I hereto or in
such other form as may be acceptable to the Trustee, certifying
as to the facts surrounding such transfer, or (y) in lieu of such
investment letter, the Trustee may accept a written Opinion of
Counsel (in form and substance acceptable to the Trustee) that
such proposed transfer may be made pursuant to an exemption from
the Act. As an additional
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condition to any transfer of a Restricted Certificate, either (i)
the transferor and the transferee shall complete the form of
assignment attached to the Certificate proposed to be
transferred, or (ii) the Trustee shall have received the
above-referenced Opinion of Counsel. The holder of any Restricted
Certificate desiring to effect the transfer thereof to a person
other than a QIB shall, and hereby agrees to, comply with any
applicable conditions set forth in the preceding two sentences
and indemnify the Trustee and the Company against any liability
that may result if the transfer thereof is not so exempt or is
not made in accordance with such federal and state laws. Such
agreement to so indemnify the Trustee and the Company shall
survive the termination of this Agreement. Notwithstanding the
foregoing, no Opinion of Counsel or investment letter shall be
required upon the original issuance of (i) the Restricted Junior
Certificates to the Initial Purchaser (as defined in the Private
Placement Memorandum) or its nominee and (ii) the Class PO
Certificates to the Company or upon any subsequent transfer of
any Class PO Certificate by the Company, provided that if any
Restricted Junior Certificates are, at the request of the Initial
Purchaser, registered in the name of its nominee, the Initial
Purchaser shall be deemed to acknowledge and agree with the
Company and the Trustee that no transfer of a beneficial interest
in such Certificates will be made without registering such
Certificates in the name of the transferee, which shall be a
Person other than such nominee. Any opinion or letter required
pursuant to this paragraph shall not be at the expense of the
Trust Fund or the Trustee.
(c) (i) No transfer of an ERISA-Restricted Certificate in
the form of a Definitive Certificate shall be made to any Person
unless the Trustee has received (A) a certificate (substantially
in the form of Exhibit E or such other form as is acceptable to
the Company and the Trustee) from such transferee to the effect
that such transferee (i) is not a Plan or a Person that is using
the assets of a Plan to acquire such ERISA-Restricted Certificate
or (ii) is an insurance company investing assets of its general
account and the exemptions provided by Section III(a) of
Department of Labor Prohibited Transaction Class Exemption 95-60,
60 Fed. Reg. 35925 (July 12, 1995) (the "Exemptions") apply to
the transferee's acquisition and holding of any ERISA-Restricted
Certificate or (B) an opinion of counsel satisfactory to the
Trustee and the Company to the effect that the purchase and
holding of such a Certificate will not constitute or result in
the assets of the Trust Fund being deemed to be "plan assets"
subject to the prohibited transactions provisions of ERISA or
Section 4975 of the Code and will not subject the Trustee or the
Company to any obligation in addition to those undertaken in the
Agreement; provided, however, that the Trustee will not require
such certificate or opinion in the event that, as a result of a
change of law or otherwise, counsel satisfactory to the Trustee
has rendered an opinion to the effect that the purchase and
holding of an ERISA-Restricted Certificate by a Plan or a Person
that is purchasing or holding such a Certificate with the assets
of a Plan will not constitute or result in a prohibited
transaction under ERISA or Section 4975 of the Code. The
preparation and delivery of the certificate and opinions referred
to above shall not be an expense of the Trust Fund, the Trustee
or the Company. Notwithstanding the foregoing, no opinion or
certificate shall be required for the initial issuance of the
ERISA-Restricted Certificates.
(ii) No transfer of a Residual Certificate shall
be made to any Person unless the Trustee has received
a certification (substantially in the form of
paragraph 4 of Exhibit F) from such transferee to the
effect that, among other things, such transferee is
not a Plan or a Person that is using the assets of a
Plan to acquire any such Certificate. The preparation
and delivery of such certificate shall not be an
expense of the Trust Fund, the Trustee or the Company.
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(d) Subject to Section 8.01(i) hereof, the Trustee may
conclusively rely upon any certificate, affidavit or opinion
delivered pursuant to Section 5.02(b) or (c). Any certificate or
affidavit required to be delivered by a transferee under this
Section 5.02 may be executed and delivered in the name of such
transferee by its attorney-in-fact duly authorized in writing in
form and substance satisfactory to the Trustee.
(e) Except as to any additional Certificate of any Class of
Book-Entry Certificates held in physical certificated form
pursuant to Section 5.02(g) or any Restricted Junior Certificate
of any Class of Book-Entry Certificates that is transferred to an
entity other than a QIB, the Book-Entry Certificates shall,
subject to Section 5.02(f), at all times remain registered in the
name of the Depository or its nominee and at all times: (i)
registration thereof may not be transferred by the Trustee except
to another Depository; (ii) the Depository shall maintain
book-entry records with respect to the Certificate Owners and
with respect to ownership and transfers of such Certificates;
(iii) ownership and transfers of registration of the Certificates
issued in book-entry form on the books of the Depository shall be
governed by applicable rules established by the Depository and
the rights of Certificate Owners with respect to Book-Entry
Certificates shall be governed by applicable law and agreements
between such Certificate Owners and the Depository, Depository
Participants, and indirect participating firms; (iv) the
Depository may collect its usual and customary fees, charges and
expenses from its Depository Participants; (v) the Trustee shall
deal with the Depository, Depository Participants and indirect
participating firms as authorized representatives of the
Certificate Owners of the Certificates issued in book-entry form
for all purposes including the making of payments due on the
Book-Entry Certificates and exercising the rights of Holders
under this Agreement, and requests and directions for and votes
of such representatives shall not be deemed to be inconsistent if
they are made with respect to different Certificate Owners; (vi)
the Trustee may rely and shall be fully protected in relying upon
information furnished by the Depository with respect to its
Depository Participants and furnished by the Depository
Participants with respect to indirect participating firms and
persons shown on the books of such indirect participating firms
as direct or indirect Certificate Owners; (vii) Certificate
Owners shall not be entitled to certificates for the Book-Entry
Certificates and (viii) the Trustee may establish a reasonable
record date in connection with solicitations of consents from or
voting by Certificateholders and give notice to the Depository of
such record date.
All transfers by Certificate Owners of Book-Entry
Certificates shall be made in accordance with the procedures
established by the Depository Participant or brokerage firm
representing such Certificate Owner. Each Depository Participant
shall only transfer Book-Entry Certificates of Certificate Owners
it represents or of brokerage firms for which it acts as agent in
accordance with the Depository's normal procedures. Except as
provided herein, the Trustee shall have no duty to monitor or
restrict the transfer of Certificates or interests therein, and
shall have no liability for any transfer, including any transfer
made through the book-entry facilities of the Depository or
between or among Depository Participants or Certificate Owners,
made in violation of applicable restrictions set forth herein,
except in the event of the failure of the Trustee to perform its
duties and fulfill its obligations under this Agreement.
(f) If (x)(i) the Company or the Depository advises the
Trustee in writing that the Depository is no longer willing,
qualified or able to properly discharge its responsibilities as
Depository, and (ii) the Trustee or the Company is unable to
locate a qualified successor, (y) the
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Company at its option advises the Trustee in writing that it
elects to terminate the book-entry system through the Depository
or (z) after the occurrence of an Event of Default, Certificate
Owners representing not less than 51% of the aggregate Voting
Rights allocated to the Book-Entry Certificates together advise
the Trustee and the Depository through the Depository
Participants in writing that the continuation of a book-entry
system through the Depository is no longer in the best interests
of the Certificate Owners, the Trustee shall notify all
Certificate Owners, through the Depository, of the occurrence of
any such event and of the availability of Definitive Certificates
to Certificate Owners requesting the same. Upon surrender to the
Trustee of such Certificates by the Depository, accompanied by
registration instructions from the Depository for registration,
the Trustee shall issue the Definitive Certificates. Neither the
Company nor the Trustee shall be liable for any delay in delivery
of such instructions and may conclusively rely on, and shall be
protected in relying on, such instructions. Upon the issuance of
Definitive Certificates all references herein to obligations
imposed upon or to be performed by the Depository shall be deemed
to be imposed upon and performed by the Trustee, to the extent
applicable with respect to such Definitive Certificates and the
Trustee shall recognize the Holders of the Definitive
Certificates as Certificateholders hereunder.
(g) On or prior to the Closing Date, there shall be
delivered to the Depository (or to State Street Bank and Trust
Company acting as custodian for the Depository pursuant to the
Depository's procedures) one certificate for each Class of
Book-Entry Certificates registered in the name of the
Depository's nominee, Cede & Co. The face amount of each such
Certificate shall represent 100% of the initial Class Certificate
Principal Balance thereof, except for such amount that does not
constitute an acceptable denomination to the Depository. An
additional Certificate of each Class of Book-Entry Certificates
may be issued evidencing such remainder and, if so issued, will
be held in physical certificated form by the Holders thereof.
Each Certificate issued in book-entry form shall bear the
following legend:
"Unless this Certificate is presented by an authorized
representative of The Depository Trust Company, a New York
corporation ("DTC"), to Issuer or its agent for registration of
transfer, exchange, or payment, and any certificate issued is
registered in the name of Cede & Co. or in such other name as
requested by an authorized representative of DTC (and any payment
is made to Cede & Co. or to such other entity as is requested by
an authorized representative of DTC), ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has
an interest herein."
Section 5.03. Mutilated, Destroyed, Lost or Stolen
Certificates. If (a) any mutilated Certificate is surrendered to
the Certificate Registrar, or the Certificate Registrar receives
evidence to its satisfaction of the destruction, loss or theft of
any Certificate and (b) there is delivered to the Company, the
Certificate Registrar and the Trustee such security or indemnity
as may be required by them to save each of them harmless, then,
in the absence of notice to the Certificate Registrar or the
Trustee that such Certificate has been acquired by a bona fide
purchaser, the Trustee shall execute, countersign and deliver, in
exchange for or in lieu of any such mutilated, destroyed, lost or
stolen Certificate, a new Certificate of like tenor, Class and
Percentage Interest. In connection with the issuance of any new
Certificate under this Section 5.03, the Trustee may require the
payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in relation thereto and
any other expenses (including
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the fees and expenses of the Trustee and the Certificate
Registrar) connected therewith. Any duplicate Certificate issued
pursuant to this Section 5.03 shall constitute complete and
indefeasible evidence of ownership in the Trust Fund, as if
originally issued, whether or not the lost, stolen or destroyed
Certificate shall be found at any time.
Section 5.04. Persons Deemed Owners. Prior to due
presentation of a Certificate for registration of transfer, the
Company, the Trustee, the Certificate Registrar and any agent of
the Company, the Trustee or the Certificate Registrar may treat
the person in whose name any Certificate is registered as the
owner of such Certificate for the purpose of receiving
distributions pursuant to Section 4.01 and for all other purposes
whatsoever, and neither the Company, the Trustee, the Certificate
Registrar nor any agent of the Company, the Trustee or the
Certificate Registrar shall be affected by any notice to the
contrary.
Section 5.05. Access to List of Certificateholders' Names
and Addresses. The Certificate Registrar will furnish or cause to
be furnished to the Company, within 15 days after receipt by the
Certificate Registrar of request therefor from the Company in
writing, a list, in such form as the Company may reasonably
require, of the names and addresses of the Certificateholders as
of the most recent Record Date for payment of distributions to
Certificateholders. If three or more Certificateholders
(hereinafter referred to as "applicants") apply in writing to the
Trustee, and such application states that the applicants desire
to communicate with other Certificateholders with respect to
their rights under this Agreement or under the Certificates and
is accompanied by a copy of the communication which such
applicants propose to transmit, then the Trustee shall, within
five Business Days after the receipt of such application, afford
such applicants access during normal business hours to the most
recent list of Certificateholders held by the Trustee. If such
list is as of a date more than 90 days prior to the date of
receipt of such applicants' request, the Trustee shall promptly
request from the Certificate Registrar a current list as provided
above, and shall afford such applicants access to such list
promptly upon receipt. Every Certificateholder, by receiving and
holding a Certificate, agrees with the Certificate Registrar and
the Trustee that neither the Certificate Registrar nor the
Trustee shall be held accountable by reason of the disclosure of
any such information as to the names and addresses of the
Certificateholders hereunder, regardless of the source from which
such information was derived.
Section 5.06. Representation of Certain Certificateholders.
The fiduciary of any Plan which becomes a Holder of a
Certificate, by virtue of its acceptance of such Certificate,
will be deemed to have represented and warranted to the Trustee
and the Company that such Plan is an "accredited investor" as
defined in Rule 501(a)(1) of Regulation D promulgated by the
Securities and Exchange Commission under the Securities Act of
1933.
Section 5.07. Determination of COFI. (a) If the outstanding
Certificates include any COFI Certificates, then on each COFI
Determination Date the Trustee shall determine the value of COFI
on the basis of the most recently available Information Bulletin
referred to in the definition of "COFI". The establishment of
COFI by the Trustee and the Trustee's subsequent calculation of
the rates of interest applicable to the COFI Certificates for
each Interest Accrual Period shall (in the absence of manifest
error) be final and binding. During each Interest Accrual Period,
the Certificate Interest Rate for the COFI Certificates for the
current and immediately
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preceding Interest Accrual Period shall be made available by the
Trustee to Certificate Owners and Certificateholders at the
following telephone number: (617) 664-5500.
(b) The failure by the Federal Home Loan Bank of San
Francisco to publish COFI for a period of 65 calendar days will
constitute an "Alternative Rate Event" for purposes hereof. Upon
the occurrence of an Alternative Rate Event, the Company will
calculate the Certificate Interest Rates for the COFI
Certificates for the subsequent Interest Accrual Periods by
using, in place of COFI, (i) the replacement index, if any,
published or designated by the Federal Home Loan Bank of San
Francisco or (ii) if no replacement index is so published or
designated, an alternative index to be selected by the Company
that has performed, or that the Company expects to perform, in a
manner substantially similar to COFI. At the time an alternative
index is first selected by the Company, the Company shall
determine the average number of basis points, if any, by which
the alternative index differed from COFI for such period as the
Company, in its sole discretion, reasonably determines to reflect
fairly the long-term difference between COFI and the alternative
index, and shall adjust the alternative index by such average.
The Company shall select a particular index as an alternative
only if it receives an Opinion of Counsel to the effect that the
selection of such index will not cause any REMIC established
hereunder to fail to qualify as a REMIC for federal income tax
purposes. In the absence of manifest error, the selection of any
alternative index as provided by this Section 5.07(b) shall be
final and binding for each subsequent Interest Accrual Period.
Upon the occurrence of an Alternative Rate Event, the Trustee
shall have no responsibility for the determination of any
alternative index or the calculation of the Certificate Interest
Rates for the COFI Certificates.
(c) If at any time after the occurrence of an Alternative
Rate Event the Federal Home Loan Bank of San Francisco resumes
publication of COFI, the Certificate Interest Rates for the COFI
Certificates for each Interest Accrual Period commencing
thereafter will be calculated by reference to COFI.
Section 5.08. Determination of LIBOR. (a) If the
outstanding Certificates include any LIBOR Certificates, then on
each LIBOR Determination Date the Trustee shall determine LIBOR
for the related Interest Accrual Period as such rate equal to the
Interest Settlement Rate. If such rate does not appear on the
Designated Telerate Page as of 11:00 a.m., London time, on the
applicable LIBOR Determination Date:
(i) The Trustee will request the principal London
office of each Reference Bank (as defined in Section
5.08(e)) to provide such bank's offered quotation
(expressed as a percentage per annum) to prime banks
in the London interbank market for one-month U.S.
Dollar deposits as of 11:00 a.m., London time, on the
applicable LIBOR Determination Date.
(ii) If on any LIBOR Determination Date, two or
more of the Reference Banks provide such offered
quotations, LIBOR for the next Interest Accrual Period
will be the arithmetic mean of such offered quotations
(rounding such arithmetic mean upwards, if necessary,
to the nearest whole multiple of 1/16%). If on any
LIBOR Determination Date only one or none of the
Reference Banks provide such offered quotations, LIBOR
for the next Interest Accrual Period will be the rate
per annum the Trustee determines to be the arithmetic
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mean (rounding such arithmetic mean upwards, if
necessary, to the nearest whole multiple of 1/16%) of
the one-month Eurodollar lending rate that three major
banks in New York City selected by the Trustee are
quoting as of approximately 11:00 a.m., New York City
time, on the first day of the applicable Interest
Accrual Period.
(iii) If on any LIBOR Determination Date the
Trustee is required but unable to determine LIBOR in
the manner provided in subparagraph (ii) of this
Section 5.08(a), LIBOR for the next Interest Accrual
Period will be LIBOR as determined on the previous
LIBOR Determination Date, or, in the case of the first
LIBOR Determination Date, the Initial LIBOR Rate.
(b) The establishment of LIBOR by the Trustee and the
Trustee's subsequent calculation of the Certificate Interest
Rates applicable to the LIBOR Certificates for the relevant
Interest Accrual Period, in the absence of manifest error, will
be final and binding.
(c) Within five Business Days of the Trustee's calculation
of the Certificate Interest Rates of the LIBOR Certificates, the
Trustee shall furnish to the Company by telecopy (or by such
other means as the Trustee and the Company may agree from time to
time) such Certificate Interest Rates.
(d) The Trustee shall provide to Certificateholders who
inquire of it by telephone the Certificate Interest Rates of the
LIBOR Certificates for the current and immediately preceding
Interest Accrual Period.
(e) As used herein, "Reference Banks" shall mean no more
than four leading banks engaged in transactions in Eurodollar
deposits in the international Eurocurrency market (i) with an
established place of business in London, England, (ii) whose
quotations appear on the display designated "LIBO" on the Reuters
Monitor Money Rates Service (the "Reuters Screen LIBO Page") on
the applicable LIBOR Determination Date and (iii) which have been
designated as such by the Trustee and are able and willing to
provide such quotations to the Trustee on each LIBOR
Determination Date. The Reference Banks initially shall be:
Barclay's plc, Bank of Tokyo, National Westminster Bank and Trust
Company and Bankers Trust Company. If any of the initial
Reference Banks should be removed from the Reuters Screen LIBO
Page or in any other way fail to meet the qualifications of a
Reference Bank, or if such page is no longer published, the
Trustee, after consultation with the Company, shall use its best
efforts to designate alternate Reference Banks.
ARTICLE VI
THE COMPANY
Section 6.01. Liability of the Company. The Company shall
be liable in accordance herewith only to the extent of the
obligations specifically imposed upon and undertaken by the
Company herein.
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Section 6.02. Merger or Consolidation of, or Assumption of
the Obligations of, the Company. Any corporation into which the
Company may be merged or consolidated, or any corporation
resulting from any merger, conversion or consolidation to which
the Company shall be a party, or any corporation succeeding to
the business of the Company, or any corporation, more than 50% of
the voting stock of which is, directly or indirectly, owned by
General Electric Company, or any limited partnership, the sole
general partner of which is either the Company or a corporation,
more than 50% of the voting stock of which is owned, directly or
indirectly, by General Electric Company, which executes an
agreement of assumption to perform every obligation of the
Company hereunder, shall be the successor of the Company
hereunder, without the execution or filing of any paper or any
further act on the part of any of the parties hereto, anything
herein to the contrary notwithstanding.
Section 6.03. Assignment. The Company may assign its rights
and delegate its duties and obligations as servicer under this
Agreement; provided, that (i) the purchaser or transferee
accepting such assignment or delegation is qualified to service
mortgage loans for FNMA or FHLMC, is reasonably satisfactory to
the Trustee and executes and delivers to the Trustee an
agreement, in form and substance reasonably satisfactory to the
Trustee, which contains an assumption by such purchaser or
transferee of the due and punctual performance and observance of
each covenant and condition to be performed or observed by the
Company as servicer hereunder from and after the date of such
agreement and (ii) each Rating Agency's rating of any Classes of
Certificates in effect immediately prior to such assignment or
delegation would not be qualified, downgraded or withdrawn as a
result thereof. In the case of any such assignment or delegation,
the Company will be released from its obligations as servicer
hereunder except for liabilities and obligations as servicer
incurred prior to such assignment or delegation.
Section 6.04. Limitation on Liability of the Company and
Others. Neither the Company nor any of the directors or officers
or employees or agents of the Company shall be under any
liability to the Trust Fund or the Certificateholders for any
action taken or for refraining from the taking of any action by
the Company pursuant to this Agreement, or for errors in
judgment; provided, however, that this provision shall not
protect the Company or any such person against any liability
which would otherwise be imposed by reason of willful
misfeasance, bad faith or gross negligence in the performance of
duties of the Company or by reason of reckless disregard of
obligations and duties of the Company hereunder. The Company and
any director or officer or employee or agent of the Company may
rely in good faith on any document of any kind prima facie
properly executed and submitted by any Person respecting any
matters arising hereunder. The Company and any director or
officer or employee or agent of the Company shall be indemnified
by the Trust Fund and held harmless against any loss, liability
or expense incurred in connection with any legal action relating
to this Agreement or the Certificates, other than any loss,
liability or expense related to any specific Mortgage Loan or
Mortgage Loans (except as any such loss, liability or expense
shall be otherwise reimbursable pursuant to this Agreement) and
any loss, liability or expense incurred by reason of willful
misfeasance, bad faith or gross negligence in the performance of
duties hereunder or by reason of reckless disregard of
obligations and duties hereunder. The Company shall be under no
obligation to appear in, prosecute or defend any legal action
which is not incidental to its duties to service the Mortgage
Loans in accordance with this Agreement and which in its opinion
may involve it in any expense or liability; provided, however,
that the Company may in its sole discretion undertake any such
action which it may deem necessary or desirable in respect of
this Agreement, and the rights and
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duties of the parties hereto and the interests of the
Certificateholders hereunder. In such event, the legal expenses
and costs of such action and any liability resulting therefrom
shall be expenses, costs and liabilities of the Trust Fund and
the Company shall be entitled to be reimbursed therefor from
amounts credited to the Mortgage Loan Payment Record as provided
by Section 3.04.
Section 6.05. The Company Not to Resign. Subject to the
provisions of Sections 6.02 and 6.03, the Company shall not
resign from the obligations and duties hereby imposed on it
except upon determination that the performance of its duties
hereunder is no longer permissible under applicable law. Any such
determination permitting the resignation of the Company shall be
evidenced by an Opinion of Counsel to such effect delivered to
the Trustee. No such resignation shall become effective until the
Trustee or a successor servicer shall have assumed the
responsibilities and obligations of the Company in accordance
with Section 7.02.
ARTICLE VII
DEFAULT
Section 7.01. Events of Default. If any one of the
following events ("Events of Default") shall occur and be
continuing:
(i) Any failure by the Company to make any
payment to the Trustee of funds pursuant to Section
3.02(d) out of which distributions to
Certificateholders of any Class are required to be
made under the terms of the Certificates and this
Agreement which failure continues unremedied for a
period of three Business Days after the date upon
which written notice of such failure shall have been
given to the Company by the Trustee or to the Company
and the Trustee by Holders of Certificates of each
Class affected thereby evidencing, as to each such
Class, Percentage Interests aggregating not less than
25%; or
(ii) Failure on the part of the Company duly to
observe or perform in any material respect any other
covenants or agreements of the Company set forth in
the Certificates or in this Agreement, which covenants
and agreements (A) materially affect the rights of
Certificateholders and (B) continue unremedied for a
period of 60 days after the date on which written
notice of such failure, requiring the same to be
remedied, shall have been given to the Company by the
Trustee, or to the Company and the Trustee by the
Holders of Certificates of each Class affected thereby
evidencing, as to each such Class, Percentage
Interests aggregating not less than 25%; or
(iii) The entry of a decree or order by a court
or agency or supervisory authority having jurisdiction
in the premises for the appointment of a conservator,
receiver or liquidator in any insolvency, readjustment
of debt, marshalling of assets and liabilities or
similar proceedings of or relating to the Company, or
for the winding up or liquidation of the Company's
affairs, and the continuance of any such decree or
order unstayed and in effect for a period of 60
consecutive days; or
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(iv) The consent by the Company to the
appointment of a conservator or receiver or liquidator
in any insolvency, readjustment of debt, marshalling
of assets and liabilities or similar proceedings of or
relating to the Company or of or relating to
substantially all of its property; or the Company
shall admit in writing its inability to pay its debts
generally as they become due, file a petition to take
advantage of any applicable insolvency or
reorganization statute, make an assignment for the
benefit of its creditors, or voluntarily suspend
payment of its obligations;
then, and in each and every such case, so long as an Event of
Default shall not have been remedied by the Company, either the
Trustee, or the Holders of Certificates of each Class affected
thereby evidencing, as to each such Class, Percentage Interests
aggregating not less than 51%, by notice then given in writing to
the Company (and to the Trustee if given by the
Certificateholders) may terminate all of the rights and
obligations of the Company as servicer under this Agreement. On
or after the receipt by the Company of such written notice, all
authority and power of the Company under this Agreement, whether
with respect to the Certificates or the Mortgage Loans or
otherwise, shall pass to and be vested in the Trustee pursuant to
and under this Section 7.01; and, without limitation, the Trustee
is hereby authorized and empowered to execute and deliver, on
behalf of the Company, as attorney-in-fact or otherwise, any and
all documents and other instruments, and to do or accomplish all
other acts or things necessary or appropriate to effect the
purposes of such notice of termination, whether to complete the
transfer and endorsement of the Mortgage Loans and related
documents, or otherwise, including, without limitation, the
recordation of the assignments of the Mortgage Loans to it. The
Company agrees to cooperate with the Trustee in effecting the
termination of the responsibilities and rights of the Company
hereunder, including, without limitation, the transfer to the
Trustee for the administration by it of all cash amounts that
shall at the time be held by the Company and that have been or
should have been credited by it to the Mortgage Loan Payment
Record, or that have been deposited by the Company in the
Certificate Account or are thereafter received by the Company
with respect to the Mortgage Loans. In addition to any other
amounts which are then, or, notwithstanding the termination of
its activities as servicer, may become, payable to the Company
under this Agreement, the Company shall be entitled to receive
out of any delinquent payment on account of interest on a
Mortgage Loan, due during the period prior to the notice pursuant
to this Section 7.01 which terminates the obligation and rights
of the Company hereunder and received after such notice, that
portion of such payment which it would have been entitled to
retain pursuant to Section 3.04(vi) if such notice had not been
given.
Section 7.02. Trustee to Act; Appointment of Successor. (a)
On and after the time the Company receives a notice of
termination pursuant to Section 7.01, the Trustee shall be the
successor in all respects to the Company in its capacity as
servicer under this Agreement and the transactions set forth or
provided for herein and shall succeed to all the rights of and be
subject to all the responsibilities, duties and liabilities
relating thereto placed on the Company in its capacity as
servicer by the terms and provisions hereof; provided, however,
that the responsibilities and duties of the Company pursuant to
Sections 2.02 and 2.03(a) and, if the Trustee is prohibited by
law or regulation from making Monthly Advances, the
responsibility to make Monthly Advances pursuant to Section 4.04,
shall not be the responsibilities, duties or obligations of the
Trustee; and provided further, that any failure of the Trustee to
perform such duties and responsibilities that is caused by the
Company's failure to cooperate with the Trustee
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as required by Section 7.01 shall not be considered a default by
the Trustee hereunder. As compensation therefor, the Trustee
shall, except as provided in Section 7.01, be entitled to such
compensation as the Company would have been entitled to hereunder
if no such notice of termination had been given. Notwithstanding
the above, the Trustee may, if it shall be unwilling so to act,
or shall, if it is legally unable so to act, appoint, or petition
a court of competent jurisdiction to appoint, any established
housing and home finance institution approved to service mortgage
loans for either FNMA or FHLMC, having a net worth of not less
than $10,000,000, as the successor to the Company hereunder in
the assumption of all or any part of the responsibilities, duties
or liabilities of the Company hereunder. Pending appointment of a
successor to the Company pursuant to this Article VII, unless the
Trustee is prohibited by law from so acting, the Trustee shall
act in such capacity as hereinabove provided. In connection with
such appointment and assumption, the Trustee may make such
arrangements for the compensation of such successor out of
payments on Mortgage Loans as it and such successor shall agree;
provided, however, that no such compensation shall be in excess
of that permitted the Company hereunder. The Trustee and such
successor shall take such action, consistent with this Agreement,
as shall be necessary to effectuate any such succession.
(b) Any successor, including the Trustee, to the Company as
servicer pursuant to this Article VII shall during the term of
its service as servicer maintain in force (i) a policy or
policies of insurance covering errors and omissions in the
performance of its obligations as servicer hereunder, and (ii) a
fidelity bond in respect of its officers, employees and agents to
the same extent as the Company is so required pursuant to Section
3.15.
Section 7.03. Notification to Certificateholders. Upon any
termination or appointment of a successor to the Company pursuant
to this Article VII, the Trustee shall give prompt written notice
thereof to Certificateholders at their respective addresses
appearing in the Certificate Register.
ARTICLE VIII
THE TRUSTEE
Section 8.01. Duties of Trustee. The Trustee, prior to the
occurrence of an Event of Default and after the curing of all
Events of Default which may have occurred, undertakes to perform
such duties and only such duties as are specifically set forth in
this Agreement. If an Event of Default has occurred (which has
not been cured), the Trustee shall exercise such of the rights
and powers vested in it by this Agreement, and use the same
degree of care and skill in their exercise, as a prudent person
would exercise or use under the circumstances in the conduct of
his or her own affairs.
The Trustee, upon receipt of all resolutions,
certificates, statements, opinions, reports, documents, orders or
other instruments furnished to the Trustee which are specifically
required to be furnished pursuant to any provision of this
Agreement, shall examine them to determine whether they conform
to the requirements of this Agreement.
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No provision of this Agreement shall be construed to
relieve the Trustee from liability for its own negligent action,
its own negligent failure to act or its own misconduct; provided,
however, that:
(i) Prior to the occurrence of an Event of
Default, and after the curing of all such Events of
Default which may have occurred, the duties and
obligations of the Trustee shall be determined solely
by the express provisions of this Agreement, the
Trustee shall not be liable except for the performance
of such duties and obligations as are specifically set
forth in this Agreement, no implied covenants or
obligations shall be read into this Agreement against
the Trustee and, in the absence of bad faith on the
part of the Trustee, the Trustee may conclusively
rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon
any certificates or opinions furnished to the Trustee
and conforming to the requirements of this Agreement;
(ii) The Trustee shall not be personally liable
for an error of judgment made in good faith by a
Responsible Officer of the Trustee, unless it shall be
proved that the Trustee was negligent in performing
its duties in accordance with the terms of this
Agreement;
(iii) The Trustee shall not be personally liable
with respect to any action taken, suffered or omitted
to be taken by it in good faith in accordance with the
direction of the Holders of Certificates of each Class
affected thereby evidencing, as to each such Class,
Percentage Interests aggregating not less than 25%,
relating to the time, method and place of conducting
any proceeding for any remedy available to the
Trustee, or exercising any trust or power conferred
upon the Trustee, under this Agreement; and
(iv) The Trustee shall not be charged with
knowledge of (A) any failure by the Company to comply
with the obligations of the Company referred to in
clauses (i) and (ii) of Section 7.01, (B) the rating
downgrade referred to in the definition of "Trigger
Event" or (C) any failure by the Company to comply
with the obligations of the Company to record the
assignments of Mortgages referred to in Section 2.01
unless a Responsible Officer of the Trustee at the
Corporate Trust Office obtains actual knowledge of
such failures, occurrence or downgrade or the Trustee
receives written notice of such failures, occurrence
or downgrade from the Company or the Holders of
Certificates of each Class affected thereby
evidencing, as to each such Class, Percentage
Interests aggregating not less than 25%.
Subject to any obligation of the Trustee to make
Monthly Advances as provided herein, the Trustee shall not be
required to expend or risk its own funds or otherwise incur
financial liability in the performance of any of its duties
hereunder, or in the exercise of any of its rights or powers, if
there is reasonable ground for believing that the repayment of
such funds or adequate indemnity against such risk or liability
is not reasonably assured to it, and none of the provisions
contained in this Agreement shall in any event require the
Trustee to perform, or be responsible for the manner of
performance of, any of the obligations of the Company under
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this Agreement, except during such time, if any, as the Trustee
shall be the successor to, and be vested with the rights, duties,
powers and privileges of, the Company in accordance with the
terms of this Agreement.
Section 8.02. Certain Matters Affecting the Trustee. Except
as otherwise provided in Section 8.01:
(i) The Trustee may conclusively rely and shall
be protected in acting or refraining from acting upon
any resolution, Officer's Certificate, certificate of
auditors or any other certificate, statement,
instrument, opinion, report, notice, request, consent,
order, appraisal, bond or other paper or document
believed by it to be genuine and to have been signed
or presented by the proper party or parties;
(ii) The Trustee may consult with counsel and any
Opinion of Counsel shall be full and complete
authorization and protection in respect of any action
taken or suffered or omitted by it hereunder in good
faith and in accordance with such Opinion of Counsel;
(iii) The Trustee shall be under no obligation to
exercise any of the rights or powers vested in it by
this Agreement, or to institute, conduct or defend any
litigation hereunder or in relation hereto, at the
request, order or direction of any of the
Certificateholders, pursuant to the provisions of this
Agreement, unless such Certificateholders shall have
offered to the Trustee reasonable security or
indemnity against the costs, expenses and liabilities
which may be incurred therein or thereby; nothing
contained herein shall, however, relieve the Trustee
of the obligations, upon the occurrence of an Event of
Default (which has not been cured), to exercise such
of the rights and powers vested in it by this
Agreement, and to use the same degree of care and
skill in their exercise as a prudent person would
exercise or use under the circumstances in the conduct
of his or her own affairs;
(iv) The Trustee shall not be personally liable
for any action taken, suffered or omitted by it in
good faith and believed by it to be authorized or
within the discretion or rights or powers conferred
upon it by this Agreement;
(v) Prior to the occurrence of an Event of
Default and after the curing of all Events of Default
which may have occurred, the Trustee shall not be
bound to make any investigation into the facts or
matters stated in any resolution, certificate,
statement, instrument, opinion, report, notice,
request, consent, order, approval, bond or other paper
or documents, unless requested in writing so to do by
Holders of Certificates of each Class affected thereby
evidencing, as to each such Class, Percentage
Interests aggregating not less than 25%; provided,
however, that if the payment within a reasonable time
to the Trustee of the costs, expenses or liabilities
likely to be incurred by it in the making of such
investigation is, in the opinion of the Trustee, not
reasonably assured to the Trustee by the security
afforded to it by the terms of this Agreement, the
Trustee may require reasonable indemnity against such
cost, expense or liability as a
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condition to such proceeding. The reasonable expense
of every such investigation shall be paid by the
Company or, if paid by the Trustee, shall be
reimbursed by the Company upon demand. Nothing in this
clause (v) shall derogate from the obligation of the
Company to observe any applicable law prohibiting
disclosure of information regarding the Mortgagors;
and
(vi) The Trustee may execute any of the trusts or
powers hereunder or perform any duties hereunder
either directly or by or through agents or attorneys
or a custodian.
Section 8.03. Trustee Not Liable for Certificates or
Mortgage Loans. The recitals contained herein and in the
Certificates (other than the signature and countersignature of
the Trustee on the Certificates) shall be taken as the statements
of the Company, and the Trustee assumes no responsibility for the
correctness of the same. The Trustee makes no representations as
to the validity or sufficiency of this Agreement or of the
Certificates (other than the signature and countersignature of
the Trustee on the Certificates) or of any Mortgage Loan or
related document. The Trustee shall not be accountable for the
use or application by the Company of any of the Certificates or
of the proceeds of such Certificates, or for the use or
application of any funds paid to the Company in respect of the
Mortgage Loans or deposited in or withdrawn from the Certificate
Account by the Company.
Section 8.04. Trustee May Own Certificates. The Trustee in
its individual or any other capacity may become the owner or
pledgee of Certificates with the same rights as it would have if
it were not Trustee.
Section 8.05. The Company to Pay Trustee's Fees and
Expenses. The Company covenants and agrees to pay to the Trustee
from time to time, and the Trustee shall be entitled to,
reasonable compensation (which shall not be limited by any
provision of law in regard to the compensation of a trustee of an
express trust) for all services rendered by it in the execution
of the trusts hereby created and in the exercise and performance
of any of the powers and duties hereunder of the Trustee, and the
Company will pay or reimburse the Trustee upon its request for
all reasonable expenses, disbursements and advances (including
any Monthly Advances of the Trustee not previously reimbursed
thereto pursuant to Section 3.04) incurred or made by the Trustee
in accordance with any of the provisions of this Agreement
(including the reasonable compensation and the expenses and
disbursements of its counsel and of all persons not regularly in
its employ) except any such expense, disbursement or advance as
may arise from its negligence or bad faith or which is the
responsibility of Certificateholders hereunder. In addition, the
Company covenants and agrees to indemnify the Trustee from, and
hold it harmless against, any and all losses, liabilities,
damages, claims or expenses other than those resulting from the
negligence or bad faith of the Trustee. From time to time, the
Trustee may request that the Company debit the Mortgage Loan
Payment Record pursuant to Section 3.04 to reimburse the Trustee
for any Monthly Advances and Nonrecoverable Advances.
Section 8.06. Eligibility Requirements for Trustee. The
Trustee hereunder shall at all times be a corporation having its
principal office either in the State of New York or in the same
state as that in which the initial Trustee under this Agreement
has its principal office and organized and doing business under
the laws of such State or the United States of America,
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authorized under such laws to exercise corporate trust powers,
having a combined capital and surplus of at least $50,000,000 and
subject to supervision or examination by federal or state
authority. If such corporation publishes reports of condition at
least annually, pursuant to law or to the requirements of the
aforesaid supervising or examining authority, then for the
purposes of this Section 8.06, the combined capital and surplus
of such corporation shall be deemed to be its combined capital
and surplus as set forth in its most recent report of condition
so published. The Trustee shall not be an affiliate of the
Company. In case at any time the Trustee shall cease to be
eligible in accordance with the provisions of this Section 8.06,
the Trustee shall resign immediately in the manner and with the
effect specified in Section 8.07.
Section 8.07. Resignation or Removal of Trustee. The
Trustee may at any time resign and be discharged from the trusts
hereby created by giving written notice thereof to the Company.
Upon receiving such notice of resignation, the Company shall
promptly appoint a successor Trustee by written instrument, in
duplicate, one copy of which instrument shall be delivered to the
resigning Trustee and one copy to the successor Trustee. If no
successor Trustee shall have been so appointed and having
accepted appointment within 30 days after the giving of such
notice of resignation, the resigning Trustee may petition any
court of competent jurisdiction for the appointment of a
successor Trustee.
If the conditions in any of the following clauses (i),
(ii) or (iii) shall occur at any time, the Company may remove the
Trustee: (i) the Trustee shall cease to be eligible in accordance
with the provisions of Section 8.06 and shall fail to resign
after written request therefor by the Company; (ii) the Trustee
shall be legally unable to act, or shall be adjudged a bankrupt
or insolvent, or a receiver of the Trustee or of its property
shall be appointed, or any public officer shall take charge or
control of the Trustee or of its property or affairs for the
purpose of rehabilitation, conservation or liquidation; or (iii)
the replacement of the Trustee with a successor Trustee will
enable the Company to avoid (and should, based on the information
included in the notice referred to below, result in the avoidance
of) a downgrading of the ratings assigned to the Certificates by
the Rating Agencies (whether or not other actions could avoid
such downgrading) and no Event of Default, as provided by Section
7.01 hereof, shall have occurred or be continuing; provided,
however, that no action shall be taken pursuant to this clause
(iii) unless reasonable notice shall have been provided to the
Trustee, which notice shall set forth the basis for any rating
downgrade as contemplated by the Rating Agencies and shall also
indicate the manner in which such proposed action is intended to
avoid such downgrade. If it removes the Trustee under the
authority of the immediately preceding sentence, the Company
shall promptly appoint a successor trustee by written instrument,
in duplicate, one copy of which instrument shall be delivered to
the Trustee so removed and one copy to the successor trustee.
Any resignation or removal of the Trustee and
appointment of a successor Trustee pursuant to any of the
provisions of this Section 8.07 shall not become effective until
acceptance of appointment by the successor Trustee as provided in
Section 8.08.
Section 8.08. Successor Trustee. Any successor Trustee
appointed as provided in Section 8.07 shall execute, acknowledge
and deliver to the Company and to its predecessor Trustee an
instrument accepting such appointment hereunder, and thereupon
the resignation or removal of the predecessor Trustee shall
become effective and such successor Trustee, without any further
act, deed or conveyance, shall become fully vested with all the
rights, powers, duties
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and obligations of its predecessor hereunder, with like effect as
if originally named as Trustee. The predecessor Trustee shall
deliver to the successor Trustee all Mortgage Files and related
documents and statements held by it hereunder; and the Company
and the predecessor Trustee shall execute and deliver such
instruments and do such other things as may reasonably be
required for fully and certainly vesting and confirming in the
successor Trustee all such rights, powers, duties and
obligations.
No successor Trustee shall accept appointment as
provided in this Section 8.08 unless at the time of such
acceptance such successor Trustee shall be eligible under the
provisions of Section 8.06.
Upon acceptance of appointment by a successor Trustee
as provided in this Section 8.08, the Company shall mail notice
of the succession of such Trustee hereunder to all holders of
Certificates at their addresses as shown in the Certificate
Register. If the Company fails to mail such notice within 10 days
after acceptance of appointment by the successor Trustee, the
successor Trustee shall cause such notice to be mailed at the
expense of the Company.
Section 8.09. Merger or Consolidation of Trustee. Any
corporation into which the Trustee may be merged or converted or
with which it may be consolidated, or any corporation resulting
from any merger, conversion or consolidation to which the Trustee
shall be a party, or any corporation succeeding to the corporate
trust business of the Trustee, shall be the successor of the
Trustee hereunder, provided that such corporation shall be
eligible under the provisions of Section 8.06, without the
execution or filing of any paper or any further act on the part
of any of the parties hereto, anything herein to the contrary
notwithstanding.
Section 8.10. Appointment of Co-Trustee or Separate
Trustee. Notwithstanding any other provisions of this Agreement,
at any time, for the purpose of meeting any legal requirements of
any jurisdiction in which any part of the Trust Fund or property
securing any Mortgage Note may at the time be located, the
Company and the Trustee acting jointly shall have the power and
shall execute and deliver all instruments to appoint one or more
Persons approved by the Trustee to act as co-trustee or
co-trustees, jointly with the Trustee, of all or any part of the
Trust Fund, or separate trustee or separate trustees of any part
of the Trust Fund, and to vest in such Person or Persons, in such
capacity and for the benefit of the Certificateholders, such
title to the Trust Fund, or any part thereof, and, subject to the
other provisions of this Section 8.10, such powers, duties,
obligations, rights and trusts as the Company and the Trustee may
consider necessary or desirable. If the Company shall not have
joined in such appointment within 15 days after the receipt by it
of a request so to do, or in case an Event of Default shall have
occurred and be continuing, the Trustee alone shall have the
power to make such appointment. No co-trustee or separate trustee
hereunder shall be required to meet the terms of eligibility as a
successor trustee under Section 8.06 and no notice to
Certificateholders of the appointment of any co-trustee or
separate trustee shall be required under Section 8.08.
Every separate trustee and co-trustee shall, to the
extent permitted by law, be appointed and act subject to the
following provisions and conditions:
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(i) All rights, powers, duties and obligations
conferred or imposed upon the Trustee shall be
conferred or imposed upon and exercised or performed
by the Trustee and such separate trustee or co-trustee
jointly (it being understood that such separate
trustee or co-trustee is not authorized to act
separately without the Trustee joining in such act),
except to the extent that under any law of any
jurisdiction in which any particular act or acts are
to be performed (whether as Trustee hereunder or as
successor to the Company hereunder), the Trustee shall
be incompetent or unqualified to perform such act or
acts, in which event such rights, powers, duties and
obligations (including the holding of title to the
Trust Fund or any portion thereof in any such
jurisdiction) shall be exercised and performed singly
by such separate trustee or co-trustee, but solely at
the direction of the Trustee;
(ii) No trustee hereunder shall be held
personally liable by reason of any act or omission of
any other trustee hereunder; and
(iii) The Company and the Trustee acting jointly
may at any time accept the resignation of or remove
any separate trustee or co-trustee.
Any notice, request or other writing given to the
Trustee shall be deemed to have been given to each of the then
separate trustees and co-trustees, as effectively as if given to
each of them. Every instrument appointing any separate trustee or
co-trustee shall refer to this Agreement and the conditions of
this Article VIII. Each separate trustee and co-trustee, upon its
acceptance of the trusts conferred, shall be vested with the
estates or property specified in its instrument of appointment,
either jointly with the Trustee or separately, as may be provided
therein, subject to all the provisions of this Agreement,
specifically including every provision of this Agreement relating
to the conduct of, affecting the liability of, or affording
protection to, the Trustee. Every such instrument shall be filed
with the Trustee and a copy thereof given to the Company.
Any separate trustee or co-trustee may, at any time,
constitute the Trustee, its agent or attorney-in-fact, with full
power and authority, to the extent not prohibited by law, to do
any lawful act under or in respect of this Agreement on its
behalf and in its name. If any separate trustee or co-trustee
shall die, become incapable of acting, resign or be removed, all
of its estates, properties, rights, remedies and trusts shall
vest in and be exercised by the Trustee, to the extent permitted
by law, without the appointment of a new or successor trustee.
Section 8.11. Compliance with REMIC Provisions; Tax
Returns. The Trustee shall at all times act in such a manner in
the performance of its duties hereunder as shall be necessary to
prevent the Trust Fund from failing to qualify as a REMIC and to
prevent the imposition of a tax on the Trust Fund or the REMIC
established hereunder. The Trustee, upon request, will furnish
the Company with all such information within its possession as
may be reasonably required in connection with the preparation of
all tax returns of the Trust Fund and any Reserve Fund, and
shall, upon request, execute such returns.
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ARTICLE IX
TERMINATION
Section 9.01. Termination upon Repurchase by the Company or
Liquidation of All Mortgage Loans. Subject to Section 9.02, the
respective obligations and responsibilities of the Company and
the Trustee created hereby (other than the obligation of the
Trustee to make certain payments to Certificateholders after the
final Distribution Date and the obligation of the Trustee to send
certain notices as hereinafter set forth) shall terminate upon
the last action required to be taken by the Trustee on the final
Distribution Date pursuant to this Article IX following the
earlier of (a) the repurchase by the Company of all Mortgage
Loans and all REO Mortgage Loans remaining in the Trust Fund at a
price equal to the sum of (x) 100% of the unpaid principal
balance of each Mortgage Loan (other than any REO Mortgage Loans
described in the following clause) plus accrued and unpaid
interest thereon at the applicable Remittance Rate (less any
amounts constituting previously unreimbursed Monthly Advances) to
the first day of the month in which such purchase price is to be
distributed to Certificateholders and (y) the appraised value of
any REO Mortgage Loan (less the good faith estimate of the
Company of Liquidation Expenses to be incurred in connection with
its disposal thereof), such appraisal to be conducted by an
appraiser mutually agreed upon by the Company and the Trustee,
and (b) the later of the final payment or other liquidation (or
any Monthly Advance with respect thereto) of the last Mortgage
Loan remaining in the Trust Fund or the disposition of all
property acquired upon foreclosure or by deed in lieu of
foreclosure of any Mortgage Loan; provided, however, that in no
event shall the Trust Fund created hereby continue beyond the
expiration of 21 years from the death of the last survivor of the
descendants of Joseph P. Kennedy, the late ambassador of the
United States of America to the Court of St. James's, living on
the date of this Agreement. The right of the Company to
repurchase all Mortgage Loans pursuant to clause (a) above shall
be conditioned upon the aggregate of the Scheduled Principal
Balance of the Outstanding Mortgage Loans, at the time of any
such repurchase, aggregating less than 10 percent of the
aggregate of the Scheduled Principal Balance of the Mortgage
Loans as of the Cut-off Date.
Notice of any termination, specifying the Distribution
Date upon which the Certificateholders may surrender their
Certificates to the Trustee for payment of the final distribution
and cancellation, shall be given promptly by the Trustee by
letter to Certificateholders mailed not earlier than the 15th day
and not later than the 25th day of the month next preceding the
month of such final distribution specifying (A) the Distribution
Date upon which final payment of the Certificates will be made
upon presentation and surrender of the Certificates at the office
of the Trustee therein designated, (B) the amount of any such
final payment and (C) that the Record Date otherwise applicable
to such Distribution Date is not applicable, payments being made
only upon presentation and surrender of the Certificates at the
office of the Trustee therein specified. The Trustee shall give
such notice to the Certificate Registrar at the time such notice
is given to Certificateholders. In the event such notice is given
in connection with the exercise by the Company of its right of
repurchase, the Company shall deposit in the Certificate Account
not later than 11:00 a.m. on the Business Day prior to the final
Distribution Date in next-day funds an amount equal to the price
described above. Upon presentation and surrender of the
Certificates, the Trustee shall cause to be distributed to
Certificateholders an amount equal to the price calculated as
above provided, any such repurchase being in lieu of the
distribution otherwise required to be made on the Distribution
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Date upon which the repurchase is effected. Upon certification to
the Trustee by a Servicing Officer following such final deposit,
the Trustee shall promptly release to the Company the Mortgage
Files for the repurchased Mortgage Loans.
On the final Distribution Date, the Trustee shall
distribute amounts on deposit in the Certificate Account in
accordance with the applicable priorities provided by Section
4.01. Distributions on each Certificate shall be made on the
final Distribution Date in the manner specified in Section 4.02
but only upon presentation and surrender of the Certificates.
In the event that all of the Certificateholders shall
not surrender their Certificates for cancellation within six
months after the date specified in the above-mentioned written
notice, the Trustee shall give a second written notice to the
remaining Certificateholders to surrender their Certificates for
cancellation and receive the final distribution with respect
thereto. If within one year after the second notice all the
Certificates shall not have been surrendered for cancellation,
the Trustee may take appropriate steps, or may appoint an agent
to take appropriate steps, to contact the remaining
Certificateholders concerning surrender of their Certificates,
and the cost thereof shall be paid out of the funds and other
assets which remain subject hereto.
Section 9.02. Additional Termination Requirements. (a) In
the event the Company exercises its purchase option as provided
in Section 9.01, the Trust Fund and the REMIC established
hereunder shall be terminated in accordance with the following
additional requirements, unless the Trustee has been supplied
with an Opinion of Counsel to the effect that the failure to
comply with the requirements of this Section 9.02 will not (i)
result in the imposition of taxes on "prohibited transactions" of
such REMIC as defined in section 860F of the Code, or (ii) cause
the Trust Fund to fail to qualify as a REMIC at any time that any
Certificates are outstanding:
(i) Within 90 days prior to the final
Distribution Date set forth in the notice given by the
Trustee under Section 9.01, the Company shall prepare
and the Trustee shall execute and adopt a plan of
complete liquidation for such REMIC within the meaning
of section 860F(a)(4)(A)(i) of the Code, which shall
be evidenced by such notice; and
(ii) Within 90 days after the time of adoption of
such a plan of complete liquidation, the Trustee shall
sell all of the assets of the Trust Fund to the
Company for cash in accordance with Section 9.01.
(b) By their acceptance of the Residual Certificates, the
Holders thereof hereby authorize the Trustee to adopt such a plan
of complete liquidation which authorization shall be binding on
all successor Holders of the Residual Certificates.
(c) On the final federal income tax return for the REMIC
established hereunder, the Trustee will attach a statement
specifying the date of the adoption of the plan of liquidation.
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ARTICLE X
MISCELLANEOUS PROVISIONS
Section 10.01. Amendment. This Agreement may be amended
from time to time by the Company and the Trustee, without the
consent of any of the Certificateholders, to cure any ambiguity,
to correct or supplement any provisions herein or therein which
may be defective or inconsistent with any other provisions
herein, or to surrender any right or power herein conferred upon
the Company, or to add any other provisions with respect to
matters or questions arising under this Agreement, which shall
not be materially inconsistent with the provisions of this
Agreement; provided, however, that such action shall not, as
evidenced by an Opinion of Counsel, adversely affect in any
material respect the interests of any Certificateholder.
Notwithstanding the foregoing, without the consent of the
Certificateholders, the Trustee and the Company may at any time
and from time to time amend this Agreement to modify, eliminate
or add to any of its provisions to such extent as shall be
necessary or appropriate to maintain the qualification of the
Trust Fund as a REMIC under the Code or to avoid or minimize the
risk of the imposition of any tax on the Trust Fund pursuant to
the Code that would be a claim against the Trust Fund at any time
prior to the final redemption of the Certificates, provided that
the Trustee has obtained an opinion of independent counsel (which
opinion also shall be addressed to the Company) to the effect
that such action is necessary or appropriate to maintain such
qualification or to avoid or minimize the risk of the imposition
of such a tax.
This Agreement may also be amended from time to time
by the Company and the Trustee with the consent of Holders of
Certificates evidencing (i) not less than 66% of the Voting
Rights of all the Certificates or (ii) Percentage Interests
aggregating not less than 66% of each Class affected by such
amendment, for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of
this Agreement, or of modifying in any manner the rights of the
Holders of Certificates; provided, however, that no such
amendment shall (a) reduce in any manner the amount of, or delay
the timing of, collections of payments on the Mortgage Loans or
distributions which are required to be made on any Certificate
without the consent of the Holder of such Certificate, (b)
adversely affect in any material respects the interests of the
Holders of any Class of Certificates in any manner other than as
described in (a), without the consent of the Holders of
Certificates evidencing Percentage Interests aggregating not less
than 66% of such Class, or (c) reduce the aforesaid percentages
of Certificates of any Class required to consent to any such
amendment, without the consent of the Holders of all Certificates
of such Class then outstanding. For purposes of this paragraph,
references to "Holder" or "Holders" shall be deemed to include,
in the case of any Class of Book-Entry Certificates, the related
Certificate Owners.
Notwithstanding any contrary provision of this
Agreement, the Trustee shall not consent to any amendment to this
Agreement unless it shall have first received an Opinion of
Counsel to the effect that such amendment will not subject the
Trust Fund to tax or cause the Trust Fund to fail to qualify as a
REMIC at any time that any Certificates are outstanding.
Promptly after the execution of any such amendment or
consent the Trustee shall furnish written notification of the
substance of such amendment to each Certificateholder.
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It shall not be necessary for the consent of
Certificateholders under this Section 10.01 to approve the
particular form of any proposed amendment, but it shall be
sufficient if such consent shall approve the substance thereof.
The manner of obtaining such consents and of evidencing the
authorization of the execution thereof by Certificateholders
shall be subject to such reasonable requirements as the Trustee
may prescribe.
Section 10.02. Recordation of Agreement. This Agreement is
subject to recordation in all appropriate public offices for real
property records in all the counties or other comparable
jurisdictions in which any or all of the properties subject to
the Mortgages are situated, and in any other appropriate public
recording office or elsewhere, such recordation to be effected by
the Company and at its expense on direction by the Trustee, but
only upon direction of the Trustee accompanied by an Opinion of
Counsel to the effect that such recordation materially and
beneficially affects the interests of Certificateholders.
For the purpose of facilitating the recordation of
this Agreement as herein provided and for other purposes, this
Agreement may be executed simultaneously in any number of
counterparts, each of which counterparts shall be deemed to be an
original, and such counterparts shall constitute but one and the
same instrument.
Section 10.03. Limitation on Rights of Certificateholders.
The death or incapacity of any Certificateholder shall not
operate to terminate this Agreement or the Trust Fund, nor
entitle such Certificateholder's legal representatives or heirs
to claim an accounting or to take any action or commence any
proceeding in any court for a partition or winding up of the
Trust Fund, nor otherwise affect the rights, obligations and
liabilities of the parties hereto or any of them.
No Certificateholder shall have any right to vote
(except as provided in Section 10.01) or in any manner otherwise
control the operation and management of the Trust Fund, or the
obligations of the parties hereto, nor shall anything herein set
forth, or contained in the terms of the Certificates, be
construed so as to constitute the Certificateholders from time to
time as partners or members of an association; nor shall any
Certificateholder be under any liability to any third person by
reason of any action taken by the parties to this Agreement
pursuant to any provision hereof.
No Certificateholder shall have any right by virtue or
by availing itself of any provisions of this Agreement to
institute any suit, action or proceeding in equity or at law upon
or under or with respect to this Agreement, unless such Holder
previously shall have given to the Trustee a written notice of
default and of the continuance thereof, as hereinbefore provided,
and unless also the Holders of Certificates of each Class
affected thereby evidencing, as to each such Class, Percentage
Interests aggregating not less than 25% shall have made written
request upon the Trustee to institute such action, suit or
proceeding in its own name as Trustee hereunder and shall have
offered to the Trustee such reasonable indemnity as it may
require against the costs, expenses and liabilities to be
incurred therein or thereby, and the Trustee, for 60 days after
its receipt of such notice, request and offer of indemnity, shall
have neglected or refused to institute any such action, suit or
proceeding; it being understood and intended, and being expressly
covenanted by each Certificateholder with every other
Certificateholder and the Trustee, that no one or more Holders of
Certificates shall have any right in any manner whatever by
virtue or by availing itself or themselves of any provisions of
this Agreement to affect, disturb or prejudice
95
<PAGE>
the rights of the Holders of any other of the Certificates, or to
obtain or seek to obtain priority over or preference to any other
such Holder, or to enforce any right under this Agreement, except
in the manner herein provided and for the equal, ratable and
common benefit of all Certificateholders. For the protection and
enforcement of the provisions of this Section 10.03, each and
every Certificateholder and the Trustee shall be entitled to such
relief as can be given either at law or in equity.
Section 10.04. Governing Law. THIS AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK
AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER
SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.
Section 10.05. Notices. All demands, notices and
communications hereunder shall be in writing and shall be deemed
to have been duly given if personally delivered at or mailed by
certified mail, return receipt requested, (a) in the case of the
Company, to GE Capital Mortgage Services, Inc., 3 Executive
Campus, Cherry Hill, New Jersey 08002, Attention: General
Counsel, (b) in the case of the Trustee, to State Street Bank and
Trust Company, Corporate Trust Department, 225 Franklin Street,
Boston, Massachusetts 02110, (c) in the case of Fitch, to Fitch
IBCA, Inc., One State Street Plaza, New York, New York 10004,
Attention: Structured Finance Surveillance, and (d) in the case
of S&P, Standard and Poor's Ratings Services, 26 Broadway, 10th
Floor, New York, New York 10004, Attention: Residential Mortgage
Surveillance, or, as to each such Person, at such other address
as shall be designated by such Person in a written notice to each
other named Person. Any notice required or permitted to be mailed
to a Certificateholder shall be given by first class mail,
postage prepaid, at the address of such Holder as shown in the
Certificate Register. Any notice so mailed within the time
prescribed in this Agreement shall be conclusively presumed to
have been duly given, whether or not the Certificateholder
receives such notice.
Section 10.06. Notices to the Rating Agencies. The Company
shall deliver written notice of the following events to each
Rating Agency promptly following the occurrence thereof: material
amendment to this Agreement; any Event of Default; any Trigger
Event; change in or termination of the Trustee; removal of the
Company or any successor servicer as servicer; repurchase or
replacement of any Defective Mortgage Loan pursuant to Section
2.03; and final payment to Certificateholders. In addition, the
Company shall deliver copies of the following documents to each
Rating Agency at the time such documents are required to be
delivered pursuant to this Agreement: monthly statements to
Certificateholders pursuant to Section 4.05, annual report of
independent accountants pursuant to Section 3.13 and annual
servicer compliance report pursuant to Section 3.12.
Notwithstanding the foregoing, the failure to deliver such
notices or copies shall not constitute an Event of Default under
this Agreement.
Section 10.07. Severability of Provisions. If any one or
more of the covenants, agreements, provisions or terms of this
Agreement shall be for any reason whatsoever held invalid, then
to the extent permitted by law such covenants, agreements,
provisions or terms shall be deemed severable from the remaining
covenants, agreements, provisions or terms of this Agreement and
shall in no way affect the validity or enforceability of the
other provisions of this Agreement or of the Certificates or the
rights of the Holders thereof.
96
<PAGE>
Section 10.08. Certificates Nonassessable and Fully Paid.
It is the intention of the Trustee that Certificateholders shall
not be personally liable for obligations of the Trust Fund, that
the beneficial ownership interests represented by the
Certificates shall be nonassessable for any losses or expenses of
the Trust Fund or for any reason whatsoever, and that
Certificates upon execution, countersignature and delivery
thereof by the Trustee are and shall be deemed fully paid.
* * *
97
<PAGE>
IN WITNESS WHEREOF, the Company and the Trustee have
caused this Agreement to be duly executed by their respective
officers and their respective seals, duly attested, to be
hereunto affixed, all as of the day and year first above written.
GE CAPITAL MORTGAGE SERVICES, INC.
By:_______________________________
Name:
Title:
[SEAL]
Attest:
By:____________________________
Name:
Title:
STATE STREET BANK AND
TRUST COMPANY,
as Trustee
By:_______________________________
Name:
Title:
[SEAL]
Attest:
By:____________________________
Name:
Title:
<PAGE>
State of New Jersey )
) ss.:
County of Camden )
On the day of October, 1998 before me, a notary public
in and for the State of New Jersey, personally appeared
_______________________, known to me who, being by me duly sworn,
did depose and say that he/she resides at ____________________
___________________________________; that he/she is a(n)
_________________________ of GE Capital Mortgage Services, Inc.,
a corporation formed under the laws of the State of New Jersey,
one of the parties that executed the foregoing instrument; that
he/she knows the seal of said corporation; that the seal affixed
to said instrument is such corporate seal; that it was so affixed
by order of the Board of Directors of said corporation; and that
he/she signed his/her name thereto by like order.
_____________________________
Notary Public
[Notarial Seal]
<PAGE>
The Commonwealth of Massachusetts )
) ss.:
County of Suffolk )
On the day of October, 1998 before me, a notary public
in and for the Commonwealth of Massachusetts, personally appeared
____________________, known to me who, being by me duly sworn,
did depose and say that he/she resides at __________________
_____________________________________________________________;
that he/she is a(n) __________________________________ of State
Street Bank and Trust Company, one of the parties that executed
the foregoing instrument; that he/she knows the seal of said
Bank; that the seal affixed to said instrument is such corporate
seal; that it was so affixed by order of the Board of Directors
of said Bank; and that he/she signed his/her name thereto by
order of the Board of Directors of said Bank.
_____________________________
Notary Public
[Notarial Seal]
<PAGE>
EXHIBIT A
FORMS OF CERTIFICATES
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-19
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A1 Certificate
Principal Balance:
Class A1 $127,825,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.50% Balance of this Certificate:
$
Cut-off Date:
October 1, 1998
First Distribution Date: CUSIP: 36157RTX3
November 25, 1998
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A1 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of October 1, 1998 (the "Agreement"), between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in November 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-19, issued in twenty Classes (Class A1,
Class A2, Class A3, Class A4, Class A5, Class A6, Class A7, Class
A8, Class A9, Class A10, Class A11, Class A12, Class R, Class PO,
Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
<PAGE>
The Certificates are limited in right of payment to
certain payments on and collections in respect of the Mortgage
Loans, all as more specifically set forth in the Agreement. The
Certificateholder, by its acceptance of this Certificate, agrees
that it will look solely to the funds on deposit in the
Certificate Account for payment hereunder and that the Trustee in
its individual capacity is not personally liable to the
Certificateholders for any amount payable under this Certificate
or the Agreement or, except as expressly provided in the
Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain
exceptions therein provided, certain losses on the Mortgage Loans
resulting from defaults by Mortgagors will be borne by the
Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the
Holders of the other Classes of the Certificates.
This Certificate does not purport to summarize the
Agreement and reference is made to the Agreement for the
interests, rights and limitations of rights, benefits,
obligations and duties evidenced hereby, and the rights, duties
and immunities of the Trustee.
The Agreement permits, with certain exceptions therein
provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the
Certificateholders under the Agreement at any time by the Company
and the Trustee with the consent of the Holders of Certificates
evidencing not less than 66% of all the Voting Rights as defined
in the Agreement. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and
upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange
herefor or in lieu hereof whether or not notation of such consent
is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the
consent of the Holders of any of the Certificates.
No transfer of any Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate which is in the form of a
Definitive Certificate shall be made to any Person unless the
Trustee has received (i) a certificate from such transferee to
the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Internal Revenue Code of 1986, as amended ("Section 4975") (a
"Plan") or a Person that is using the assets of a Plan to acquire
such Certificate or (y) is an insurance company investing assets
of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Exemption
95-60, 60 Fed. Reg. 35925 (July 12, 1995) (the "Exemption")
applies to such transferee's acquisition and holding of such
Certificate, or (ii) an opinion of counsel satisfactory to the
Trustee, which opinion shall not be an expense of the Trustee or
the Company, to the effect that the purchase and holding of such
Certificate will not constitute or result in the assets of the
Trust Fund being deemed to be "plan assets" and subject to the
prohibited transaction provisions of ERISA or Section 4975 and
will not subject the Trustee or the Company to any obligation in
addition to those undertaken in the Agreement; provided, however,
that the
<PAGE>
Trustee will not require such certificate or opinion in the event
that, as a result of a change of law or otherwise, counsel
satisfactory to the Trustee has rendered an opinion to the effect
that the purchase and holding of a Class M, Class B1, Class B2,
Class B3, Class B4 or Class B5 Certificate by a Plan or a Person
that is purchasing or holding such Certificate with the assets of
a Plan will not constitute or result in a prohibited transaction
under ERISA or Section 4975.
No transfer of any Class R Certificate shall be made
to any Person unless the Trustee has received a certificate from
such transferee to the effect that, among other things, such
transferee (x) is not an employee benefit plan subject to ERISA
or a Plan or a Person that is using the assets of a Plan to
acquire any such Class R Certificate or (y) is an insurance
company investing assets of its general account and the Exemption
applies to such transferee's acquisition and holding of any such
Class R Certificate.
As provided in the Agreement, and subject to certain
limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register of the Trustee upon
surrender of this Certificate for registration of transfer at the
office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the
City of New York, accompanied by a written instrument of transfer
in form satisfactory to the Company, the Trustee, and the
Certificate Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and thereupon one
or more new Certificates of the same Class of authorized
denominations evidencing the same aggregate Percentage Interest
will be issued to the designated transferee or transferees.
The Certificates are issuable only as registered
Certificates without coupons in denominations specified in the
Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Certificates are exchangeable for
new Certificates of the same Class of authorized denominations
evidencing the same aggregate Percentage Interest as requested by
the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may require
payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any
agent of the Trustee or the Certificate Registrar may treat the
Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate
Registrar nor any such agent shall be affected by any notice to
the contrary.
The obligations and responsibilities created by the
Agreement, and the Trust Fund created thereby shall terminate
upon payment to the Certificateholders, or provision therefor, in
accordance with the Agreement following the earlier of (a) the
repurchase by the Company of all Mortgage Loans and all property
acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than a Mortgage
Loan described in clause (y)) plus
<PAGE>
accrued and unpaid interest thereon at the rate provided for in
the Agreement (less any amounts representing previously
unreimbursed Monthly Advances) and (y) the appraised value of any
property acquired in respect of a Mortgage Loan determined as
provided in the Agreement, and (b) the later of the final payment
or other liquidation (or any Monthly Advance with respect
thereto) of the last Mortgage Loan remaining in the Trust Fund
and the disposition of all property acquired upon foreclosure or
by deed in lieu of foreclosure of any Mortgage Loan. The right of
the Company to repurchase all the Mortgage Loans and property in
respect of Mortgage Loans is subject to the Pool Scheduled
Principal Balance at the time of repurchase being less than 10
percent of the Pool Scheduled Principal Balance as of the Cut-off
Date. The Company's exercise of such right will result in early
retirement of the Certificates.
Unless this Certificate has been countersigned by the
Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any
purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:___________________________
Name:
Title:
Countersigned:
By_______________________
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:___________________
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s),
assign(s) and transfer(s) unto
Please insert social security
or other identifying number of assignee
_____________________________________________________________
_____________________________________________________________
(Please print or typewrite name and address
including postal zip code of assignee)
_____________________________________________________________
this Certificate evidencing a Percentage Interest in certain
distributions with respect to the Trust Fund and hereby
authorizes the transfer of registration of such interest to
assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to
issue a new Certificate of like Class and Percentage Interest, to
the above named assignee and deliver such Certificate to the
following address:
_____________________________________________________________
_____________________________________________________________
_____________________________________________________________
Dated:___________________
_____________________________________
Signature by or on behalf of assignor
_________________________
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company
or broker of the signatory who is a member of a signature
guarantee medallion program.
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-19
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A2 Certificate
Principal Balance:
Class A2 $150,750,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.50% Balance of this Certificate:
$
Cut-off Date:
October 1, 1998
First Distribution Date: CUSIP: 36157RTY1
November 25, 1998
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A2 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of October 1, 1998 (the "Agreement"), between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in November 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-19, issued in twenty Classes (Class A1,
Class A2, Class A3, Class A4, Class A5, Class A6, Class A7, Class
A8, Class A9, Class A10, Class A11, Class A12, Class R, Class PO,
Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-19
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A3 Certificate
Principal Balance:
Class A3 $14,906,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.50% Balance of this Certificate:
$
Cut-off Date:
October 1, 1998
First Distribution Date: CUSIP: 36157RTZ8
November 25, 1998
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A3 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of October 1, 1998 (the "Agreement"), between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in November 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-19, issued in twenty Classes (Class A1,
Class A2, Class A3, Class A4, Class A5, Class A6, Class A7, Class
A8, Class A9, Class A10, Class A11, Class A12, Class R, Class PO,
Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-19
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A4 Certificate
Principal Balance:
Class A4 $1,000,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.50% Balance of this Certificate:
$
Cut-off Date:
October 1, 1998
First Distribution Date: CUSIP: 36157RUA1
November 25, 1998
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A4 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of October 1, 1998 (the "Agreement"), between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in November 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-19, issued in twenty Classes (Class A1,
Class A2, Class A3, Class A4, Class A5, Class A6, Class A7, Class
A8, Class A9, Class A10, Class A11, Class A12, Class R, Class PO,
Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-19
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A5 Certificate
Principal Balance:
Class A5 $1,000,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.50% Balance of this Certificate:
$
Cut-off Date:
October 1, 1998
First Distribution Date: CUSIP: 36157RUB9
November 25, 1998
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A5 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of October 1, 1998 (the "Agreement"), between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in November 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-19, issued in twenty Classes (Class A1,
Class A2, Class A3, Class A4, Class A5, Class A6, Class A7, Class
A8, Class A9, Class A10, Class A11, Class A12, Class R, Class PO,
Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-19
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A6 Certificate
Principal Balance:
Class A6 $6,733,433
Certificate Interest Initial Certificate Principal
Rate per annum: 7.00% Balance of this Certificate:
$
Cut-off Date:
October 1, 1998
First Distribution Date: CUSIP: 36157RUC7
November 25, 1998
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A6 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of October 1, 1998 (the "Agreement"), between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in November 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-19, issued in twenty Classes (Class A1,
Class A2, Class A3, Class A4, Class A5, Class A6, Class A7, Class
A8, Class A9, Class A10, Class A11, Class A12, Class R, Class PO,
Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-19
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A7 Certificate
Principal Balance:
Class A7 $1,000,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.50% Balance of this Certificate:
$
Cut-off Date:
October 1, 1998
First Distribution Date: CUSIP: 36157RUD5
November 25, 1998
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A7 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of October 1, 1998 (the "Agreement"), between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in November 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-19, issued in twenty Classes (Class A1,
Class A2, Class A3, Class A4, Class A5, Class A6, Class A7, Class
A8, Class A9, Class A10, Class A11, Class A12, Class R, Class PO,
Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-19
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A8 Certificate
Principal Balance:
Class A8 $5,000,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.50% Balance of this Certificate:
$
Cut-off Date:
October 1, 1998
First Distribution Date: CUSIP: 36157RUE3
November 25, 1998
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A8 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of October 1, 1998 (the "Agreement"), between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in November 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-19, issued in twenty Classes (Class A1,
Class A2, Class A3, Class A4, Class A5, Class A6, Class A7, Class
A8, Class A9, Class A10, Class A11, Class A12, Class R, Class PO,
Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-19
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A9 Certificate
Principal Balance:
Class A9 $2,000,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.50% Balance of this Certificate:
$
Cut-off Date:
October 1, 1998
First Distribution Date: CUSIP: 36157RUF0
November 25, 1998
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A9 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of October 1, 1998 (the "Agreement"), between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in November 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-19, issued in twenty Classes (Class A1,
Class A2, Class A3, Class A4, Class A5, Class A6, Class A7, Class
A8, Class A9, Class A10, Class A11, Class A12, Class R, Class PO,
Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-19
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A10 Certificate
Principal Balance:
Class A10 $10,520,990
Certificate Interest Initial Certificate Principal
Rate per annum: variable Balance of this Certificate:
$
Cut-off Date:
October 1, 1998
First Distribution Date: CUSIP: 36157RUG8
November 25, 1998
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A10 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of October 1, 1998 (the "Agreement"), between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in November 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-19, issued in twenty Classes (Class A1,
Class A2, Class A3, Class A4, Class A5, Class A6, Class A7, Class
A8, Class A9, Class A10, Class A11, Class A12, Class R, Class PO,
Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-19
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A11 Certificate
Principal Balance:
Class A11 $2,945,877
Certificate Interest Initial Certificate Principal
Rate per annum: variable Balance of this Certificate:
$
Cut-off Date:
October 1, 1998
First Distribution Date: CUSIP: 36157RUH6
November 25, 1998
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A11 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of October 1, 1998 (the "Agreement"), between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in November 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-19, issued in twenty Classes (Class A1,
Class A2, Class A3, Class A4, Class A5, Class A6, Class A7, Class
A8, Class A9, Class A10, Class A11, Class A12, Class R, Class PO,
Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-19
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A12 Certificate
Principal Balance:
Class A12 $37,645,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.50% Balance of this Certificate:
$
Cut-off Date:
October 1, 1998
First Distribution Date: CUSIP: 36157RUJ2
November 25, 1998
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A12 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of October 1, 1998 (the "Agreement"), between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in November 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-19, issued in twenty Classes (Class A1,
Class A2, Class A3, Class A4, Class A5, Class A6, Class A7, Class
A8, Class A9, Class A10, Class A11, Class A12, Class R, Class PO,
Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS THE
"RESIDUAL INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN
SECTIONS 860G(a)(2) AND 860D OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED (THE "CODE"). A TRANSFEREE OF THIS CERTIFICATE,
BY ACCEPTANCE HEREOF, IS DEEMED TO HAVE ACCEPTED THIS CERTIFICATE
SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFERABILITY AS SET FORTH
IN THE AGREEMENT, AND SHALL BE REQUIRED TO FURNISH AN AFFIDAVIT
TO THE TRANSFEROR AND THE TRUSTEE TO THE EFFECT THAT IT IS NOT A
DISQUALIFIED ORGANIZATION, AS SUCH TERM IS DEFINED IN CODE
SECTION 860E(e)(5), AN AGENT (INCLUDING A BROKER, NOMINEE OR
OTHER MIDDLEMAN) FOR SUCH DISQUALIFIED ORGANIZATION, OR AN ENTITY
THAT HOLDS REMIC RESIDUAL SECURITIES AS NOMINEE TO FACILITATE THE
CLEARANCE AND SETTLEMENT OF SUCH SECURITIES THROUGH BOOK-ENTRY
CHANGES IN ACCOUNTS OF PARTICIPATING ORGANIZATIONS (A "BOOK-ENTRY
NOMINEE") AND TO HAVE AGREED TO SUCH AMENDMENTS TO THE AGREEMENT
AS MAY BE REQUIRED TO FURTHER EFFECTUATE THE RESTRICTIONS ON
TRANSFERS TO DISQUALIFIED ORGANIZATIONS, AGENTS THEREOF OR
BOOK-ENTRY NOMINEES.
THE HOLDER OF THIS CLASS R CERTIFICATE, BY ACCEPTANCE HEREOF, IS
DEEMED TO HAVE IRREVOCABLY APPOINTED THE COMPANY (AS DEFINED
HEREIN) AS ITS AGENT AND ATTORNEY-IN-FACT TO ACT AS "TAX MATTERS
PERSON" OF THE REMIC TO PERFORM THE FUNCTIONS OF A "TAX MATTERS
PARTNER" FOR PURPOSES OF SUBCHAPTER C OF CHAPTER 63 OF SUBTITLE F
OF THE CODE, WITH RESPECT TO THE TRUST FUND.
<PAGE>
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
DISQUALIFIED ORGANIZATION, BOOK-ENTRY NOMINEE OR NON-PERMITTED
FOREIGN HOLDER, AS DEFINED IN THE AGREEMENT OR TO ANY EMPLOYEE
BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY
ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO SECTION
4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED ("SECTION
4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS OF A PLAN
TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED HEREIN. THE
TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN OTHER
RESTRICTIONS AS SET FORTH HEREIN.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-19
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class R Certificate
Principal Balance:
Class R $100.00
Certificate Interest Initial Certificate Principal
Rate per annum: 6.50% Balance of this Certificate:
$
Cut-off Date:
October 1, 1998
First Distribution Date: CUSIP:36157RUK9
November 25, 1998
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class R Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of October 1, 1998 (the "Agreement"), between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in November 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-19, issued in twenty Classes (Class A1,
Class A2, Class A3, Class A4, Class A5, Class A6, Class A7, Class
A8, Class A9, Class A10, Class A11, Class A12, Class R, Class PO,
Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
<PAGE>
The Certificates are limited in right of payment to
certain payments on and collections in respect of the Mortgage
Loans, all as more specifically set forth in the Agreement. The
Certificateholder, by its acceptance of this Certificate, agrees
that it will look solely to the funds on deposit in the
Certificate Account for payment hereunder and that the Trustee in
its individual capacity is not personally liable to the
Certificateholders for any amount payable under this Certificate
or the Agreement or, except as expressly provided in the
Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain
exceptions therein provided, certain losses on the Mortgage Loans
resulting from defaults by Mortgagors will be borne by the
Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the
Holders of the other Classes of the Certificates.
This Certificate does not purport to summarize the
Agreement and reference is made to the Agreement for the
interests, rights and limitations of rights, benefits,
obligations and duties evidenced hereby, and the rights, duties
and immunities of the Trustee.
The Agreement permits, with certain exceptions therein
provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the
Certificateholders under the Agreement at any time by the Company
and the Trustee with the consent of the Holders of Certificates
evidencing not less than 66% of all the Voting Rights as defined
in the Agreement. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and
upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange
herefor or in lieu hereof whether or not notation of such consent
is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the
consent of the Holders of any of the Certificates.
No transfer of any Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate which is in the form of a
Definitive Certificate shall be made to any Person unless the
Trustee has received (i) a certificate from such transferee to
the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Internal Revenue Code of 1986, as amended ("Section 4975") (a
"Plan") or a Person that is using the assets of a Plan to acquire
such Certificate or (y) is an insurance company investing assets
of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Exemption
95-60, 60 Fed. Reg. 35925 (July 12, 1995) (the "Exemption")
applies to such transferee's acquisition and holding of such
Certificate, or (ii) an opinion of counsel satisfactory to the
Trustee, which opinion shall not be an expense of the Trustee or
the Company, to the effect that the purchase and holding of such
Certificate will not constitute or result in the assets of the
Trust Fund being deemed to be "plan assets" and subject to the
prohibited transaction provisions of ERISA or Section 4975 and
will not subject the Trustee or the Company to any obligation in
addition to those undertaken in the Agreement; provided, however,
that the
<PAGE>
Trustee will not require such certificate or opinion in the event
that, as a result of a change of law or otherwise, counsel
satisfactory to the Trustee has rendered an opinion to the effect
that the purchase and holding of a Class M, Class B1, Class B2,
Class B3, Class B4 or Class B5 Certificate by a Plan or a Person
that is purchasing or holding such Certificate with the assets of
a Plan will not constitute or result in a prohibited transaction
under ERISA or Section 4975.
No transfer of any Class R Certificate shall be made
to any Person unless the Trustee has received a certificate from
such transferee to the effect that, among other things, such
transferee (x) is not an employee benefit plan subject to ERISA
or a Plan or a Person that is using the assets of a Plan to
acquire any such Class R Certificate or (y) is an insurance
company investing assets of its general account and the Exemption
applies to such transferee's acquisition and holding of any such
Class R Certificate.
As provided in the Agreement, and subject to certain
limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register of the Trustee upon
surrender of this Certificate for registration of transfer at the
office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the
City of New York, accompanied by a written instrument of transfer
in form satisfactory to the Company, the Trustee, and the
Certificate Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and thereupon one
or more new Certificates of the same Class of authorized
denominations evidencing the same aggregate Percentage Interest
will be issued to the designated transferee or transferees.
The Certificates are issuable only as registered
Certificates without coupons in denominations specified in the
Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Certificates are exchangeable for
new Certificates of the same Class of authorized denominations
evidencing the same aggregate Percentage Interest as requested by
the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may require
payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any
agent of the Trustee or the Certificate Registrar may treat the
Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate
Registrar nor any such agent shall be affected by any notice to
the contrary.
The obligations and responsibilities created by the
Agreement, and the Trust Fund created thereby shall terminate
upon payment to the Certificateholders, or provision therefor, in
accordance with the Agreement following the earlier of (a) the
repurchase by the Company of all Mortgage Loans and all property
acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than a Mortgage
Loan described in clause (y)) plus
<PAGE>
accrued and unpaid interest thereon at the rate provided for in
the Agreement (less any amounts representing previously
unreimbursed Monthly Advances) and (y) the appraised value of any
property acquired in respect of a Mortgage Loan determined as
provided in the Agreement, and (b) the later of the final payment
or other liquidation (or any Monthly Advance with respect
thereto) of the last Mortgage Loan remaining in the Trust Fund
and the disposition of all property acquired upon foreclosure or
by deed in lieu of foreclosure of any Mortgage Loan. The right of
the Company to repurchase all the Mortgage Loans and property in
respect of Mortgage Loans is subject to the Pool Scheduled
Principal Balance at the time of repurchase being less than 10
percent of the Pool Scheduled Principal Balance as of the Cut-off
Date. The Company's exercise of such right will result in early
retirement of the Certificates.
Unless this Certificate has been countersigned by the
Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any
purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:___________________________
Name:
Title:
Countersigned:
By_______________________
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:___________________
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s),
assign(s) and transfer(s) unto
Please insert social security
or other identifying number of assignee
_____________________________________________________________
_____________________________________________________________
(Please print or typewrite name and address
including postal zip code of assignee)
_____________________________________________________________
this Certificate evidencing a Percentage Interest in certain
distributions with respect to the Trust Fund and hereby
authorizes the transfer of registration of such interest to
assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to
issue a new Certificate of like Class and Percentage Interest, to
the above named assignee and deliver such Certificate to the
following address:
_____________________________________________________________
_____________________________________________________________
_____________________________________________________________
Dated:___________________
_____________________________________
Signature by or on behalf of assignor
_________________________
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company
or broker of the signatory who is a member of a signature
guarantee medallion program.
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "SECURITIES ACT"). ANY RESALE OR
TRANSFER OF THIS CERTIFICATE WITHOUT REGISTRATION THEREOF UNDER
THE SECURITIES ACT MAY ONLY BE MADE IN A TRANSACTION EXEMPT FROM
THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
ACCORDANCE WITH SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-19
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class PO Certificate
Principal Balance:
Class PO $67,341.27
Certificate Interest Initial Certificate Principal
Rate per annum: Balance of this Certificate:
non-interest bearing $
Cut-off Date:
October 1, 1998
First Distribution Date:
November 25, 1998
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class PO Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of October 1, 1998 (the "Agreement"), between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in November 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-19, issued in twenty Classes (Class A1,
Class A2, Class A3, Class A4, Class A5, Class A6, Class A7, Class
A8, Class A9, Class A10, Class A11, Class A12, Class R, Class PO,
Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
<PAGE>
The Certificates are limited in right of payment to
certain payments on and collections in respect of the Mortgage
Loans, all as more specifically set forth in the Agreement. The
Certificateholder, by its acceptance of this Certificate, agrees
that it will look solely to the funds on deposit in the
Certificate Account for payment hereunder and that the Trustee in
its individual capacity is not personally liable to the
Certificateholders for any amount payable under this Certificate
or the Agreement or, except as expressly provided in the
Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain
exceptions therein provided, certain losses on the Mortgage Loans
resulting from defaults by Mortgagors will be borne by the
Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the
Holders of the other Classes of the Certificates.
This Certificate does not purport to summarize the
Agreement and reference is made to the Agreement for the
interests, rights and limitations of rights, benefits,
obligations and duties evidenced hereby, and the rights, duties
and immunities of the Trustee.
The Agreement permits, with certain exceptions therein
provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the
Certificateholders under the Agreement at any time by the Company
and the Trustee with the consent of the Holders of Certificates
evidencing not less than 66% of all the Voting Rights as defined
in the Agreement. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and
upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange
herefor or in lieu hereof whether or not notation of such consent
is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the
consent of the Holders of any of the Certificates.
No transfer of any Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate which is in the form of a
Definitive Certificate shall be made to any Person unless the
Trustee has received (i) a certificate from such transferee to
the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Internal Revenue Code of 1986, as amended ("Section 4975") (a
"Plan") or a Person that is using the assets of a Plan to acquire
such Certificate or (y) is an insurance company investing assets
of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Class
Exemption 95-60, 60 Fed. Reg. 35925 (July 12, 1995) (the
"Exemption") applies to such transferee's acquisition and holding
of such Certificate, or (ii) an opinion of counsel satisfactory
to the Trustee, which opinion shall not be an expense of the
Trustee or the Company, to the effect that the purchase and
holding of such Certificate will not constitute or result in the
assets of the Trust Fund being deemed to be "plan assets" and
subject to the prohibited transaction provisions of ERISA or
Section 4975 and will not subject the Trustee or the Company to
any obligation in addition to those undertaken in the Agreement;
provided, however, that the
<PAGE>
Trustee will not require such certificate or opinion in the event
that, as a result of a change of law or otherwise, counsel
satisfactory to the Trustee has rendered an opinion to the effect
that the purchase and holding of a Class M, Class B1, Class B2,
Class B3, Class B4 or Class B5 Certificate by a Plan or a Person
that is purchasing or holding such Certificate with the assets of
a Plan will not constitute or result in a prohibited transaction
under ERISA or Section 4975.
No transfer of any Class R Certificate shall be made
to any Person unless the Trustee has received a certificate from
such transferee to the effect that, among other things, such
transferee (x) is not an employee benefit plan subject to ERISA
or a Plan or a Person that is using the assets of a Plan to
acquire any such Class R Certificate or (y) is an insurance
company investing assets of its general account and the Exemption
applies to such transferee's acquisition and holding of any such
Class R Certificate.
As provided in the Agreement, and subject to certain
limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register of the Trustee upon
surrender of this Certificate for registration of transfer at the
office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the
City of New York, accompanied by a written instrument of transfer
in form satisfactory to the Company, the Trustee, and the
Certificate Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and thereupon one
or more new Certificates of the same Class of authorized
denominations evidencing the same aggregate Percentage Interest
will be issued to the designated transferee or transferees.
The Certificates are issuable only as registered
Certificates without coupons in denominations specified in the
Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Certificates are exchangeable for
new Certificates of the same Class of authorized denominations
evidencing the same aggregate Percentage Interest as requested by
the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may require
payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any
agent of the Trustee or the Certificate Registrar may treat the
Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate
Registrar nor any such agent shall be affected by any notice to
the contrary.
The obligations and responsibilities created by the
Agreement, and the Trust Fund created thereby shall terminate
upon payment to the Certificateholders, or provision therefor, in
accordance with the Agreement following the earlier of (a) the
repurchase by the Company of all Mortgage Loans and all property
acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than a Mortgage
Loan described in clause (y)) plus
<PAGE>
accrued and unpaid interest thereon at the rate provided for in
the Agreement (less any amounts representing previously
unreimbursed Monthly Advances) and (y) the appraised value of any
property acquired in respect of a Mortgage Loan determined as
provided in the Agreement, and (b) the later of the final payment
or other liquidation (or any Monthly Advance with respect
thereto) of the last Mortgage Loan remaining in the Trust Fund
and the disposition of all property acquired upon foreclosure or
by deed in lieu of foreclosure of any Mortgage Loan. The right of
the Company to repurchase all the Mortgage Loans and property in
respect of Mortgage Loans is subject to the Pool Scheduled
Principal Balance at the time of repurchase being less than 10
percent of the Pool Scheduled Principal Balance as of the Cut-off
Date. The Company's exercise of such right will result in early
retirement of the Certificates.
Unless this Certificate has been countersigned by the
Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any
purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:___________________________
Name:
Title:
Countersigned:
By_______________________
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:___________________
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s),
assign(s) and transfer(s) unto
Please insert social security
or other identifying number of assignee
_____________________________________________________________
_____________________________________________________________
(Please print or typewrite name and address
including postal zip code of assignee)
_____________________________________________________________
this Certificate evidencing a Percentage Interest in certain
distributions with respect to the Trust Fund and hereby
authorizes the transfer of registration of such interest to
assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to
issue a new Certificate of like Class and Percentage Interest, to
the above named assignee and deliver such Certificate to the
following address:
_____________________________________________________________
_____________________________________________________________
_____________________________________________________________
Dated:___________________
_____________________________________
Signature by or on behalf of assignor
_________________________
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company
or broker of the signatory who is a member of a signature
guarantee medallion program.
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO CERTAIN
CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN THE AGREEMENT
REFERRED TO HEREIN.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS
OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED
HEREIN. THE TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN
OTHER RESTRICTIONS AS SET FORTH HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-19
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class M Certificate
Principal Balance:
Class M $5,646,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.50% Balance of this Certificate:
$
Cut-off Date:
October 1, 1998
First Distribution Date: CUSIP: 36157RUL7
November 25, 1998
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class M Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of October 1, 1998 (the "Agreement"), between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in November 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-19, issued in twenty Classes (Class A1,
Class A2, Class A3, Class A4, Class A5, Class A6, Class A7, Class
A8, Class A9, Class A10, Class A11, Class A12, Class R, Class PO,
Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
<PAGE>
The Certificates are limited in right of payment to
certain payments on and collections in respect of the Mortgage
Loans, all as more specifically set forth in the Agreement. The
Certificateholder, by its acceptance of this Certificate, agrees
that it will look solely to the funds on deposit in the
Certificate Account for payment hereunder and that the Trustee in
its individual capacity is not personally liable to the
Certificateholders for any amount payable under this Certificate
or the Agreement or, except as expressly provided in the
Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain
exceptions therein provided, certain losses on the Mortgage Loans
resulting from defaults by Mortgagors will be borne by the
Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the
Holders of the other Classes of the Certificates.
This Certificate does not purport to summarize the
Agreement and reference is made to the Agreement for the
interests, rights and limitations of rights, benefits,
obligations and duties evidenced hereby, and the rights, duties
and immunities of the Trustee.
The Agreement permits, with certain exceptions therein
provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the
Certificateholders under the Agreement at any time by the Company
and the Trustee with the consent of the Holders of Certificates
evidencing not less than 66% of all the Voting Rights as defined
in the Agreement. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and
upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange
herefor or in lieu hereof whether or not notation of such consent
is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the
consent of the Holders of any of the Certificates.
No transfer of any Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate which is in the form of a
Definitive Certificate shall be made to any Person unless the
Trustee has received (i) a certificate from such transferee to
the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Internal Revenue Code of 1986, as amended ("Section 4975") (a
"Plan") or a Person that is using the assets of a Plan to acquire
such Certificate or (y) is an insurance company investing assets
of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Exemption
95-60, 60 Fed. Reg. 35925 (July 12, 1995) (the "Exemption")
applies to such transferee's acquisition and holding of such
Certificate, or (ii) an opinion of counsel satisfactory to the
Trustee, which opinion shall not be an expense of the Trustee or
the Company, to the effect that the purchase and holding of such
Certificate will not constitute or result in the assets of the
Trust Fund being deemed to be "plan assets" and subject to the
prohibited transaction provisions of ERISA or Section 4975 and
will not subject the Trustee or the Company to any obligation in
addition to those undertaken in the Agreement; provided, however,
that the
<PAGE>
Trustee will not require such certificate or opinion in the event
that, as a result of a change of law or otherwise, counsel
satisfactory to the Trustee has rendered an opinion to the effect
that the purchase and holding of a Class M, Class B1, Class B2,
Class B3, Class B4 or Class B5 Certificate by a Plan or a Person
that is purchasing or holding such Certificate with the assets of
a Plan will not constitute or result in a prohibited transaction
under ERISA or Section 4975.
No transfer of any Class R Certificate shall be made
to any Person unless the Trustee has received a certificate from
such transferee to the effect that, among other things, such
transferee (x) is not an employee benefit plan subject to ERISA
or a Plan or a Person that is using the assets of a Plan to
acquire any such Class R Certificate or (y) is an insurance
company investing assets of its general account and the Exemption
applies to such transferee's acquisition and holding of any such
Class R Certificate.
As provided in the Agreement, and subject to certain
limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register of the Trustee upon
surrender of this Certificate for registration of transfer at the
office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the
City of New York, accompanied by a written instrument of transfer
in form satisfactory to the Company, the Trustee, and the
Certificate Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and thereupon one
or more new Certificates of the same Class of authorized
denominations evidencing the same aggregate Percentage Interest
will be issued to the designated transferee or transferees.
The Certificates are issuable only as registered
Certificates without coupons in denominations specified in the
Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Certificates are exchangeable for
new Certificates of the same Class of authorized denominations
evidencing the same aggregate Percentage Interest as requested by
the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may require
payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any
agent of the Trustee or the Certificate Registrar may treat the
Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate
Registrar nor any such agent shall be affected by any notice to
the contrary.
The obligations and responsibilities created by the
Agreement, and the Trust Fund created thereby shall terminate
upon payment to the Certificateholders, or provision therefor, in
accordance with the Agreement following the earlier of (a) the
repurchase by the Company of all Mortgage Loans and all property
acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than a Mortgage
Loan described in clause (y)) plus
<PAGE>
accrued and unpaid interest thereon at the rate provided for in
the Agreement (less any amounts representing previously
unreimbursed Monthly Advances) and (y) the appraised value of any
property acquired in respect of a Mortgage Loan determined as
provided in the Agreement, and (b) the later of the final payment
or other liquidation (or any Monthly Advance with respect
thereto) of the last Mortgage Loan remaining in the Trust Fund
and the disposition of all property acquired upon foreclosure or
by deed in lieu of foreclosure of any Mortgage Loan. The right of
the Company to repurchase all the Mortgage Loans and property in
respect of Mortgage Loans is subject to the Pool Scheduled
Principal Balance at the time of repurchase being less than 10
percent of the Pool Scheduled Principal Balance as of the Cut-off
Date. The Company's exercise of such right will result in early
retirement of the Certificates.
Unless this Certificate has been countersigned by the
Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any
purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:___________________________
Name:
Title:
Countersigned:
By_______________________
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:___________________
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s),
assign(s) and transfer(s) unto
Please insert social security
or other identifying number of assignee
_____________________________________________________________
_____________________________________________________________
(Please print or typewrite name and address
including postal zip code of assignee)
_____________________________________________________________
this Certificate evidencing a Percentage Interest in certain
distributions with respect to the Trust Fund and hereby
authorizes the transfer of registration of such interest to
assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to
issue a new Certificate of like Class and Percentage Interest, to
the above named assignee and deliver such Certificate to the
following address:
_____________________________________________________________
_____________________________________________________________
_____________________________________________________________
Dated:___________________
_____________________________________
Signature by or on behalf of assignor
_________________________
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company
or broker of the signatory who is a member of a signature
guarantee medallion program.
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO CERTAIN
CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN THE AGREEMENT
REFERRED TO HEREIN.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS
OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED
HEREIN. THE TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN
OTHER RESTRICTIONS AS SET FORTH HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-19
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B1 Certificate
Principal Balance:
Class B1 $2,824,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.50% Balance of this Certificate:
$
Cut-off Date:
October 1, 1998
First Distribution Date: CUSIP: 36157RUM5
November 25, 1998
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class B1 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of October 1, 1998 (the "Agreement"), between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in November 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-19, issued in twenty Classes (Class A1,
Class A2, Class A3, Class A4, Class A5, Class A6, Class A7, Class
A8, Class A9, Class A10, Class A11, Class A12, Class R, Class PO,
Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO CERTAIN
CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN THE AGREEMENT
REFERRED TO HEREIN.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS
OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED
HEREIN. THE TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN
OTHER RESTRICTIONS AS SET FORTH HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-19
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B2 Certificate
Principal Balance:
Class B2 $1,882,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.50% Balance of this Certificate:
$
Cut-off Date:
October 1, 1998
First Distribution Date: CUSIP: 36157RUN3
November 25, 1998
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class B2 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of October 1, 1998 (the "Agreement"), between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in November 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-19, issued in twenty Classes (Class A1,
Class A2, Class A3, Class A4, Class A5, Class A6, Class A7, Class
A8, Class A9, Class A10, Class A11, Class A12, Class R, Class PO,
Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO CERTAIN
CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN THE AGREEMENT
REFERRED TO HEREIN.
THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR
THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES ("BLUE SKY
LAWS"), AND SUCH CERTIFICATE MAY NOT BE OFFERED, RESOLD, PLEDGED
OR OTHERWISE TRANSFERRED EXCEPT (A) TO A PERSON WHOM THE SELLER
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A UNDER THE SECURITIES ACT IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (B) PURSUANT TO AN
EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (C) TO AN INSTITUTIONAL
ACCREDITED INVESTOR AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7)
OF REGULATION D UNDER THE SECURITIES ACT, IN EACH CASE IN A
TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND IN ACCORDANCE WITH ANY APPLICABLE BLUE SKY
LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF THE
EXEMPTION PROVIDED BY RULE 144 FOR RESALES OF THIS CERTIFICATE.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS OF A
PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED HEREIN. THE
<PAGE>
TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN OTHER
RESTRICTIONS AS SET FORTH HEREIN.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-19
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B3 Certificate
Principal Balance:
Class B3 $2,447,000.00
Certificate Interest Initial Certificate Principal
Rate per annum: 6.50% Balance of this Certificate:
$
Cut-off Date:
October 1, 1998
First Distribution Date: CUSIP:36157RVG7
November 25, 1998
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class B3 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of October 1, 1998 (the "Agreement"), between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in November 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-19, issued in twenty Classes (Class A1,
Class A2, Class A3, Class A4, Class A5, Class A6, Class A7, Class
A8, Class A9, Class A10, Class A11, Class A12, Class R, Class PO,
Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
<PAGE>
The Certificates are limited in right of payment to
certain payments on and collections in respect of the Mortgage
Loans, all as more specifically set forth in the Agreement. The
Certificateholder, by its acceptance of this Certificate, agrees
that it will look solely to the funds on deposit in the
Certificate Account for payment hereunder and that the Trustee in
its individual capacity is not personally liable to the
Certificateholders for any amount payable under this Certificate
or the Agreement or, except as expressly provided in the
Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain
exceptions therein provided, certain losses on the Mortgage Loans
resulting from defaults by Mortgagors will be borne by the
Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the
Holders of the other Classes of the Certificates.
This Certificate does not purport to summarize the
Agreement and reference is made to the Agreement for the
interests, rights and limitations of rights, benefits,
obligations and duties evidenced hereby, and the rights, duties
and immunities of the Trustee.
The Agreement permits, with certain exceptions therein
provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the
Certificateholders under the Agreement at any time by the Company
and the Trustee with the consent of the Holders of Certificates
evidencing not less than 66% of all the Voting Rights as defined
in the Agreement. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and
upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange
herefor or in lieu hereof whether or not notation of such consent
is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the
consent of the Holders of any of the Certificates.
No transfer of any Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate which is in the form of a
Definitive Certificate shall be made to any Person unless the
Trustee has received (i) a certificate from such transferee to
the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Internal Revenue Code of 1986, as amended ("Section 4975") (a
"Plan") or a Person that is using the assets of a Plan to acquire
such Certificate or (y) is an insurance company investing assets
of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Exemption
95-60, 60 Fed. Reg. 35925 (July 12, 1995) (the "Exemption")
applies to such transferee's acquisition and holding of such
Certificate, or (ii) an opinion of counsel satisfactory to the
Trustee, which opinion shall not be an expense of the Trustee or
the Company, to the effect that the purchase and holding of such
Certificate will not constitute or result in the assets of the
Trust Fund being deemed to be "plan assets" and subject to the
prohibited transaction provisions of ERISA or Section 4975 and
will not subject the Trustee or the Company to any obligation in
addition to those undertaken in the Agreement; provided, however,
that the
<PAGE>
Trustee will not require such certificate or opinion in the event
that, as a result of a change of law or otherwise, counsel
satisfactory to the Trustee has rendered an opinion to the effect
that the purchase and holding of a Class M, Class B1, Class B2,
Class B3, Class B4 or Class B5 Certificate by a Plan or a Person
that is purchasing or holding such Certificate with the assets of
a Plan will not constitute or result in a prohibited transaction
under ERISA or Section 4975.
No transfer of any Class R Certificate shall be made
to any Person unless the Trustee has received a certificate from
such transferee to the effect that, among other things, such
transferee (x) is not an employee benefit plan subject to ERISA
or a Plan or a Person that is using the assets of a Plan to
acquire any such Class R Certificate or (y) is an insurance
company investing assets of its general account and the Exemption
applies to such transferee's acquisition and holding of any such
Class R Certificate.
As provided in the Agreement, and subject to certain
limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register of the Trustee upon
surrender of this Certificate for registration of transfer at the
office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the
City of New York, accompanied by a written instrument of transfer
in form satisfactory to the Company, the Trustee, and the
Certificate Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and thereupon one
or more new Certificates of the same Class of authorized
denominations evidencing the same aggregate Percentage Interest
will be issued to the designated transferee or transferees.
The Certificates are issuable only as registered
Certificates without coupons in denominations specified in the
Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Certificates are exchangeable for
new Certificates of the same Class of authorized denominations
evidencing the same aggregate Percentage Interest as requested by
the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may require
payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any
agent of the Trustee or the Certificate Registrar may treat the
Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate
Registrar nor any such agent shall be affected by any notice to
the contrary.
The obligations and responsibilities created by the
Agreement, and the Trust Fund created thereby shall terminate
upon payment to the Certificateholders, or provision therefor, in
accordance with the Agreement following the earlier of (a) the
repurchase by the Company of all Mortgage Loans and all property
acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than a Mortgage
Loan described in clause (y)) plus
<PAGE>
accrued and unpaid interest thereon at the rate provided for in
the Agreement (less any amounts representing previously
unreimbursed Monthly Advances) and (y) the appraised value of any
property acquired in respect of a Mortgage Loan determined as
provided in the Agreement, and (b) the later of the final payment
or other liquidation (or any Monthly Advance with respect
thereto) of the last Mortgage Loan remaining in the Trust Fund
and the disposition of all property acquired upon foreclosure or
by deed in lieu of foreclosure of any Mortgage Loan. The right of
the Company to repurchase all the Mortgage Loans and property in
respect of Mortgage Loans is subject to the Pool Scheduled
Principal Balance at the time of repurchase being less than 10
percent of the Pool Scheduled Principal Balance as of the Cut-off
Date. The Company's exercise of such right will result in early
retirement of the Certificates.
Unless this Certificate has been countersigned by the
Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any
purpose.
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:___________________________
Name:
Title:
Countersigned:
By_______________________
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:___________________
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s),
assign(s) and transfer(s) unto
Please insert social security
or other identifying number of assignee
_____________________________________________________________
_____________________________________________________________
(Please print or typewrite name and address
including postal zip code of assignee)
_____________________________________________________________
this Certificate evidencing a Percentage Interest in certain
distributions with respect to the Trust Fund and hereby
authorizes the transfer of registration of such interest to
assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to
issue a new Certificate of like Class and Percentage Interest, to
the above named assignee and deliver such Certificate to the
following address:
_____________________________________________________________
_____________________________________________________________
_____________________________________________________________
Dated:___________________
_____________________________________
Signature by or on behalf of assignor
_________________________
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company
or broker of the signatory who is a member of a signature
guarantee medallion program.
<PAGE>
In connection with any transfer of this Certificate,
the undersigned registered holder hereof confirms that without
utilizing any general solicitation or general advertising:
(Check One) -
|_| (a) This Certificate is being transferred by
the undersigned to a person whom the
undersigned reasonably believes is a
"qualified institutional buyer" (as defined
in Rule 144A under the Securities Act of
1933, as amended) pursuant to the exemption
from registration under the Securities Act
of 1933, as amended, provided by Rule 144A
thereunder.
|_| (b) This Certificate is being transferred by
the undersigned to an institutional
"accredited investor" (as defined in Rule
501(a)(1), (2), (3) or (7) of Regulation D
under the Securities Act of 1933, as
amended) and that the undersigned has been
advised by the prospective purchaser that it
intends to hold this Certificate for
investment and not for distribution or
resale.
Dated
- ---------------------------- -----------------------------------
(Signature)
If none of the foregoing boxes is checked, the Trustee shall not
be obligated to register this Certificate in the name of any
person other than the registered holder thereof unless and until
the conditions to any such transfer of registration set forth
herein, and in the Pooling and Servicing Agreement have been
satisfied.
TO BE COMPLETED BY PURCHASER IF (a) ABOVE IS CHECKED:
The undersigned represents and warrants that (i) it is
a "qualified institutional buyer" (as defined in Rule 144A under
the Securities Act of 1933, as amended) and acknowledges that it
has received such information as the undersigned has requested
pursuant to Rule 144A or has determined not to request such
information and that it is aware that the registered holder is
relying upon the undersigned's foregoing representations in order
to claim the exemption from registration provided by Rule 144A,
and (ii) the undersigned (x) is not an employee benefit plan
subject to the Employee Retirement Income Security Act of 1974,
as amended, or a plan subject to Section 4975 of the Internal
Revenue Code of 1986, as amended, and is not using the assets of
any such employee benefit or other plan to acquire this
Certificate or (y) is an insurance company investing assets of
its general account and the exemptions
<PAGE>
provided by Section III(a) of Department of Labor Prohibited
Transaction Exemption 95-60, 60 Fed. Reg. 35925 (July 12, 1995),
apply to the acquisition and holding by the undersigned of this
Certificate.
Dated
- ---------------------------- -----------------------------------
(Signature)
TO BE COMPLETED BY PURCHASER IF (b) ABOVE IS CHECKED:
The undersigned represents and warrants that (i) it is
an institutional "accredited investor" (as defined in Rule
501(a)(1), (2), (3) or (7) of Regulation D under the Securities
Act of 1933, as amended), and (ii) the undersigned (x) is not an
employee benefit plan subject to the Employee Retirement Income
Security Act of 1974, as amended, or a plan subject to Section
4975 of the Internal Revenue Code of 1986, as amended, and is not
using the assets of any such employee benefit or other plan to
acquire this Certificate or (y) is an insurance company investing
assets of its general account and the exemptions provided by
Section III(a) of Department of Labor Prohibited Transaction
Exemption 95-60, 60 Fed. Reg. 35925 (July 12, 1995), apply to the
acquisition and holding by the undersigned of this Certificate.
Dated
- ---------------------------- -----------------------------------
(Signature)
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO CERTAIN
CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN THE AGREEMENT
REFERRED TO HEREIN.
THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR
THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES ("BLUE SKY
LAWS"), AND SUCH CERTIFICATE MAY NOT BE OFFERED, RESOLD, PLEDGED
OR OTHERWISE TRANSFERRED EXCEPT (A) TO A PERSON WHOM THE SELLER
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A UNDER THE SECURITIES ACT IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (B) PURSUANT TO AN
EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (C) TO AN INSTITUTIONAL
ACCREDITED INVESTOR AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7)
OF REGULATION D UNDER THE SECURITIES ACT, IN EACH CASE IN A
TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND IN ACCORDANCE WITH ANY APPLICABLE BLUE SKY
LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF THE
EXEMPTION PROVIDED BY RULE 144 FOR RESALES OF THIS CERTIFICATE.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS OF A
PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED HEREIN. THE
<PAGE>
TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN OTHER
RESTRICTIONS AS SET FORTH HEREIN.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-19
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B4 Certificate
Principal Balance:
Class B4 $1,129,000.00
Certificate Interest Initial Certificate Principal
Rate per annum: 6.50% Balance of this Certificate:
$
Cut-off Date:
October 1, 1998
First Distribution Date: CUSIP:36157RVH5
November 25, 1998
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class B4 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of October 1, 1998 (the "Agreement"), between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in November 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-19, issued in twenty Classes (Class A1,
Class A2, Class A3, Class A4, Class A5, Class A6, Class A7, Class
A8, Class A9, Class A10, Class A11, Class A12, Class R, Class PO,
Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO CERTAIN
CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN THE AGREEMENT
REFERRED TO HEREIN.
THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR
THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES ("BLUE SKY
LAWS"), AND SUCH CERTIFICATE MAY NOT BE OFFERED, RESOLD, PLEDGED
OR OTHERWISE TRANSFERRED EXCEPT (A) TO A PERSON WHOM THE SELLER
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A UNDER THE SECURITIES ACT IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (B) PURSUANT TO AN
EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (C) TO AN INSTITUTIONAL
ACCREDITED INVESTOR AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7)
OF REGULATION D UNDER THE SECURITIES ACT, IN EACH CASE IN A
TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND IN ACCORDANCE WITH ANY APPLICABLE BLUE SKY
LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF THE
EXEMPTION PROVIDED BY RULE 144 FOR RESALES OF THIS CERTIFICATE.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS OF A
PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED HEREIN. THE
<PAGE>
TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN OTHER
RESTRICTIONS AS SET FORTH HEREIN.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-19
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B5 Certificate
Principal Balance:
Class B5 $1,130,171.79
Certificate Interest Initial Certificate Principal
Rate per annum: 6.50% Balance of this Certificate:
$
Cut-off Date:
October 1, 1998
First Distribution Date: CUSIP:36157RVJ1
November 25, 1998
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class B5 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of October 1, 1998 (the "Agreement"), between the Company and
State Street Bank and Trust Company, as trustee (the "Trustee"),
a summary of certain of the pertinent provisions of which is set
forth herein below. To the extent not defined herein, the terms
used herein have the meanings assigned in the Agreement. This
Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement
the Holder of this Certificate by virtue of the acceptance hereof
assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in November 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-19, issued in twenty Classes (Class A1,
Class A2, Class A3, Class A4, Class A5, Class A6, Class A7, Class
A8, Class A9, Class A10, Class A11, Class A12, Class R, Class PO,
Class M, Class B1, Class B2, Class B3, Class B4 and Class B5,
herein called the "Certificates").<PAGE>
EXHIBIT B
PRINCIPAL BALANCE SCHEDULES
<PAGE>
EXHIBIT C
MORTGAGE LOANS
[Each Mortgage Loan shall be identified by loan
number, address of the Mortgaged Property and name of the
Mortgagor. The following details shall be set forth as to each
Mortgage Loan: (i) the principal balance at the time of its
origination, (ii) the Scheduled Principal Balance as of the
Cut-off Date, (iii) the interest rate borne by the Mortgage Note,
(iv) the scheduled monthly level payment of principal and
interest, (v) the Loan-To-Value ratio, (vi) the maturity date of
the Mortgage Note and (vii) the Base Servicing Fee Rate for such
Mortgage Loan. Cooperative Loans and Enhanced Streamlined
Refinance program loans shall be designated as such.]
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 1
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007698988 MORTGAGORS: WEINGER LEAH
REGION CODE ADDRESS : 3496 SPRINGHILL COURT
02 CITY : LAFAYETTE
STATE/ZIP : CA 94549
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,452.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,387.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 66.03700
----------------------------------------------------------------
0 0007699036 MORTGAGORS: KAHN ANDREW
SCHNEIDER JANET
REGION CODE ADDRESS : 2403 WOOLSEY STREET,
02 CITY : BERKELEY,
STATE/ZIP : CA 94705
MORTGAGE AMOUNT : 293,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,310.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,998.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 73.25000
----------------------------------------------------------------
0 0007699093 MORTGAGORS: PATEL MUKESH
PATEL BHAMINI
REGION CODE ADDRESS : 1863 CAPE HATTERAS WAY
02 CITY : SAN JOSE
STATE/ZIP : CA 95133
MORTGAGE AMOUNT : 319,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,183.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,236.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
0 0007699119 MORTGAGORS: LEONARD JOHN
LEONARD ELIZABETH
REGION CODE ADDRESS : 3440 CAMINO ALEGRE
02 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 331,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 330,220.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,258.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 76.97600
----------------------------------------------------------------
0 0007699127 MORTGAGORS: EVANS MARK
EVANS DEBORAH
REGION CODE ADDRESS : 79 OAKRIDGE COURT
02 CITY : DANVILLE
STATE/ZIP : CA 94506
MORTGAGE AMOUNT : 405,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 404,411.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,866.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,698,900.00
P & I AMT: 11,747.75 UPB AMT: 1,695,578.28
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 2
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007699143 MORTGAGORS: ALLEN DENISE
ALLEN WALTER
REGION CODE ADDRESS : 12455 SKYLINE BOULEVARD,
02 CITY : OAKLAND,
STATE/ZIP : CA 94619
MORTGAGE AMOUNT : 495,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 494,225.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,376.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007699184 MORTGAGORS: DIAZ RONALDO
DIAZ MARIE
REGION CODE ADDRESS : 12060 WOODED VISTA LANE
02 CITY : SAN DIEGO,
STATE/ZIP : CA 92128
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,352.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,875.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 76.38800
----------------------------------------------------------------
0 0007699200 MORTGAGORS: KHOURY ISSAM
KHOURY IRIS
REGION CODE ADDRESS : 14226 VIA BARODA
02 CITY : RANCHO SANTA FE
STATE/ZIP : CA 92067
MORTGAGE AMOUNT : 524,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 522,854.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,708.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007699218 MORTGAGORS: SULLIVAN WILLIAM
REGION CODE ADDRESS : 315 CRESTMONT DRIVE,
02 CITY : OAKLAND,
STATE/ZIP : CA 94619
MORTGAGE AMOUNT : 249,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,967.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,639.69 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007699226 MORTGAGORS: GIRAUD STEPHEN
KING LAURA
REGION CODE ADDRESS : 1613 ANDOVER WAY
02 CITY : PETALUMA
STATE/ZIP : CA 94954
MORTGAGE AMOUNT : 248,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,111.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,695.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 71.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,792,100.00
P & I AMT: 12,296.49
UPB AMT: 1,788,511.32
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 3
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007699267 MORTGAGORS: ARCIBAL CATHERINE
ARCIBAL MARIO
REGION CODE ADDRESS : 3832 STONE POINTE WAY
02 CITY : PLEASANTON
STATE/ZIP : CA 94588
MORTGAGE AMOUNT : 268,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,141.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,948.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
0 0007699283 MORTGAGORS: KUNZE KAREN
KUNZE LOWELL
REGION CODE ADDRESS : 8509 ROBERTA DRIVE
02 CITY : EL CERRITO
STATE/ZIP : CA 94530
MORTGAGE AMOUNT : 274,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,571.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,869.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007699291 MORTGAGORS: RILEY RICHARD
RILEY NORMA
REGION CODE ADDRESS : 3 ARBELLA
02 CITY : NEWPORT COAST
STATE/ZIP : CA 92657
MORTGAGE AMOUNT : 483,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 482,348.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,419.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
0 0007699309 MORTGAGORS: SCHNEIDER THOMAS
SCHNEIDER VALERIE
REGION CODE ADDRESS : 986 CRELLIN ROAD
02 CITY : PLEASANTON
STATE/ZIP : CA 94566
MORTGAGE AMOUNT : 283,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,589.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,003.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 76.48600
----------------------------------------------------------------
0 0007699317 MORTGAGORS: LAND DANIEL
LAND MARTHA
REGION CODE ADDRESS : 90 DORNOCH WAY
02 CITY : COTO DE CAZA
STATE/ZIP : CA 92679
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,598.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,684.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.75700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,558,750.00
P & I AMT: 10,923.78
UPB AMT: 1,556,249.37
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 4
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007699341 MORTGAGORS: ROZUNKO GREG
ROZUNKO RENEE
REGION CODE ADDRESS : 2011 CALLE DE LOS ALAMOS
02 CITY : SAN CLEMENTE
STATE/ZIP : CA 92672
MORTGAGE AMOUNT : 318,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 318,251.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,174.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007699358 MORTGAGORS: LOFTIN THOMAS
LOFTIN SUZANNE
REGION CODE ADDRESS : 2120 CAMINO DEL VECINO
02 CITY : ALPINE
STATE/ZIP : CA 91901
MORTGAGE AMOUNT : 348,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 347,441.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,344.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007699366 MORTGAGORS: VAN RIPER DOUGLAS
VAN RIPER JANET
REGION CODE ADDRESS : 28864 CRESTRIDGE ROAD
02 CITY : RANCHO PALOS VERDES
STATE/ZIP : CA 90275
MORTGAGE AMOUNT : 386,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 385,995.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,637.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 67.23400
----------------------------------------------------------------
0 0007699374 MORTGAGORS: ARENTSEN ERIC
ARENTSEN MELINDA
REGION CODE ADDRESS : 2908 ALMA AVENUE
02 CITY : MANHATTAN BEACH
STATE/ZIP : CA 90266
MORTGAGE AMOUNT : 453,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 452,739.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,134.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 64.82800
----------------------------------------------------------------
0 0007699382 MORTGAGORS: AMSTER BARRY
AMSTER JAYE
REGION CODE ADDRESS : 28941 GLEN RIDGE,
02 CITY : MISSION VIEJO,
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 298,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,955.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,086.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 48.44100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,805,550.00
P & I AMT: 12,377.01
UPB AMT: 1,802,382.98
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 5
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007699390 MORTGAGORS: WHETSTONE EARL
WHETSTONE VALERIE
REGION CODE ADDRESS : 814 INTREPID LANE
02 CITY : REDWOOD CITY
STATE/ZIP : CA 94065
MORTGAGE AMOUNT : 360,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 360,221.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,430.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007699408 MORTGAGORS: BARAD HUNTLEY
MUTRUX TIRZAH
REGION CODE ADDRESS : 125 KENSINGTON WAY,
02 CITY : SAN FRANCISCO,
STATE/ZIP : CA 94127
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,410.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,299.25 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 68.09300
----------------------------------------------------------------
0 0007699416 MORTGAGORS: LAI TUE
NGUYEN TUONG
REGION CODE ADDRESS : 2620 MOSSWOOD DRIVE
02 CITY : SAN JOSE
STATE/ZIP : CA 95132
MORTGAGE AMOUNT : 250,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,008.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,708.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007699424 MORTGAGORS: PALANIAPPAN THEIVANAI
PERIYANNAN ALAGU
REGION CODE ADDRESS : 34113 FINNIGAN TERRACE
02 CITY : FREEMONT
STATE/ZIP : CA 94555
MORTGAGE AMOUNT : 280,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,371.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,939.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007699432 MORTGAGORS: OKEY MARK
OKEY STEPHANIE
REGION CODE ADDRESS : 400 HOLMWOOD DRIVE
02 CITY : NEWPORT BEACH
STATE/ZIP : CA 92663
MORTGAGE AMOUNT : 543,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 542,288.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,801.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 64.72600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,785,700.00
P & I AMT: 12,179.25
UPB AMT: 1,782,299.32
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 6
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007699457 MORTGAGORS: BUCCHIANERI HAROLD
BUCCHIANERI RENEE
REGION CODE ADDRESS : 454 PIONEER TRAIL PLACE,
02 CITY : PLEASANTON,
STATE/ZIP : CA 94566
MORTGAGE AMOUNT : 467,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 466,213.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,067.86 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 71.84600
----------------------------------------------------------------
0 0007699465 MORTGAGORS: BRAINARD CRISS
BRAINARD SHAUNA
REGION CODE ADDRESS : 1725 TOPAZ TERRACE
02 CITY : EL CAJON
STATE/ZIP : CA 92019
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,535.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,349.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 72.88800
----------------------------------------------------------------
0 0007699473 MORTGAGORS: WHITE JACK
WHITE MARY
REGION CODE ADDRESS : 424 SEA RIDGE DRIVE,
02 CITY : SAN DIEGO,
STATE/ZIP : CA 92037
MORTGAGE AMOUNT : 356,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 355,782.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,521.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 57.46700
----------------------------------------------------------------
0 0007699481 MORTGAGORS: MANNERS SCOTT
MANNERS ANN
REGION CODE ADDRESS : 4833 CARPRNTER AVENUE
02 CITY : VALLEY VILLAGE
STATE/ZIP : CA 91607
MORTGAGE AMOUNT : 450,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 449,329.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,146.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 76.27100
----------------------------------------------------------------
0 0007699499 MORTGAGORS: ORGILL RAYMOND
ORGILL ALLISON
REGION CODE ADDRESS : 2119 CAMINO LAUREL,
02 CITY : SAN CLEMENTE,
STATE/ZIP : CA 92673
MORTGAGE AMOUNT : 281,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,995.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,968.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.29500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,882,800.00
P & I AMT: 13,054.32
UPB AMT: 1,879,856.47
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 7
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007699507 MORTGAGORS: AVILA EULOGIO
AVILA MANUELA
REGION CODE ADDRESS : 4436 YERBA BUENA AVENUE
02 CITY : SAN JOSE
STATE/ZIP : CA 95121
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,553.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,256.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007699515 MORTGAGORS: POEHLMAN DAVID
HUFF MICHAEL
REGION CODE ADDRESS : 649 TORRANCE STREET,
02 CITY : SAN DIEGO,
STATE/ZIP : CA 92103
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,463.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,517.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.22600
----------------------------------------------------------------
0 0007699523 MORTGAGORS: WLODARKIEWICZ JAN
WLODARKIEWICZ MARLENE
REGION CODE ADDRESS : 20840-20840 1/2 PACIFIC COAST HIGHW
02 CITY : MALIBU
STATE/ZIP : CA 90265
MORTGAGE AMOUNT : 382,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 380,616.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,675.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 38.26000
----------------------------------------------------------------
0 0007699531 MORTGAGORS: KINDEL GEOFFREY
KINDEL VICTORIA
REGION CODE ADDRESS : 1677 BURGUNDY ROAD
02 CITY : ENCINITAS
STATE/ZIP : CA 92024
MORTGAGE AMOUNT : 253,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,793.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,772.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 73.47800
----------------------------------------------------------------
0 0007699564 MORTGAGORS: STABLER ROBERT
STABLER SUSAN
REGION CODE ADDRESS : 3367 LAS HUERTAS
02 CITY : LAFAYETTE
STATE/ZIP : CA 94549
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,342.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,661.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 57.14200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,711,100.00
P & I AMT: 11,882.78
UPB AMT: 1,706,770.01
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 8
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007699598 MORTGAGORS: GREENBERG BARTLEY
GREENBERG KAREN
REGION CODE ADDRESS : 208 EAST UTICA AVENUE
02 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92648
MORTGAGE AMOUNT : 281,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,948.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,968.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.32300
----------------------------------------------------------------
0 0007699606 MORTGAGORS: RITCHIE DENISE
RITCHIE RYAN
REGION CODE ADDRESS : 30402 LE PORT,
02 CITY : LAGUNA NIGUEL,
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 483,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 482,780.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,380.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.91700
----------------------------------------------------------------
0 0007699614 MORTGAGORS: LIU RONGZHI
SUN HONGMIN
REGION CODE ADDRESS : 805 RIM ROAD
02 CITY : PASADENA
STATE/ZIP : CA 91107
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,636.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,769.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 76.92300
----------------------------------------------------------------
0 0007699622 MORTGAGORS: SPARKS RICHARD
SPARKS SUSAN
REGION CODE ADDRESS : 5928 BEAUMONT AVENUE
02 CITY : LA JOLLA
STATE/ZIP : CA 92037
MORTGAGE AMOUNT : 442,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 441,325.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,052.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 60.54700
----------------------------------------------------------------
0 0007699630 MORTGAGORS: LARKINS TERRY
LARKINS TRUDY
REGION CODE ADDRESS : 37 SEGADA
02 CITY : RANCHO SANTA MARGARITA
STATE/ZIP : CA 92688
MORTGAGE AMOUNT : 359,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 358,465.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,510.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 76.38200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,816,100.00
P & I AMT: 12,682.13
UPB AMT: 1,813,156.08
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 9
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007699648 MORTGAGORS: STANKO RONALD
STANKO ROSEMARY
REGION CODE ADDRESS : 17591 WAYNE AVENUE,
02 CITY : IRVINE,
STATE/ZIP : CA 92614
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,630.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,734.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 69.85900
----------------------------------------------------------------
0 0007699655 MORTGAGORS: FITZPATRICK HENYR
FITZPATRICK SHARON
REGION CODE ADDRESS : 25618 PACIFIC CIRCLE,
02 CITY : MISSION VIEJO,
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,622.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,840.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 60.46500
----------------------------------------------------------------
0 0007699663 MORTGAGORS: JACOBS GREGORY
BARR-JACOBS BEVELYN
REGION CODE ADDRESS : 1127 3RD STREET
02 CITY : MANHATTAN BEACH
STATE/ZIP : CA 90266
MORTGAGE AMOUNT : 297,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,356.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,082.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 66.92100
----------------------------------------------------------------
0 0007699713 MORTGAGORS: SOSINE TOM
SOSINE CINDY
REGION CODE ADDRESS : 4317 MONTEREY COURT
02 CITY : BYRON,
STATE/ZIP : CA 94514
MORTGAGE AMOUNT : 301,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,765.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,053.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.32000
----------------------------------------------------------------
0 0007699721 MORTGAGORS: ELDREDGE EDWARD
ELDREDGE MARY
REGION CODE ADDRESS : 328 VIA DEL NORTE,
02 CITY : LA JOLLA,
STATE/ZIP : CA 92037
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,503.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,244.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 33.33300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,431,800.00
P & I AMT: 9,954.61
UPB AMT: 1,429,878.86
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 10
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007699739 MORTGAGORS: COBB FREDDIE
COBB BELINDA
REGION CODE ADDRESS : 2471 ELKINS WAY
02 CITY : SAN JOSE
STATE/ZIP : CA 95121
MORTGAGE AMOUNT : 242,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,051.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,611.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007699754 MORTGAGORS: CHANCES MICHAEL
CHANCE TIFFANY
REGION CODE ADDRESS : 537 SOUTH TUMBLEWEED ROAD
02 CITY : ANAHEIM
STATE/ZIP : CA 92807
MORTGAGE AMOUNT : 250,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,127.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,751.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.02200
----------------------------------------------------------------
0 0007699903 MORTGAGORS: ALIMAGHAM RUSSELL
ALIMAGHAM SONIA
REGION CODE ADDRESS : 1938 PORT BISHOP PLACE
02 CITY : NEW PORT BEACH
STATE/ZIP : CA 92660
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,255.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,496.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 67.56700
----------------------------------------------------------------
0 0007700008 MORTGAGORS: ASHTON MICHAEL
ASHTON JILL
REGION CODE ADDRESS : 27521 ALMENDRA
02 CITY : MISSION VIEJO
STATE/ZIP : CA 92691
MORTGAGE AMOUNT : 253,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,641.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,812.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 74.41100
----------------------------------------------------------------
0 0007700024 MORTGAGORS: FELDMAN JOSHUA
REGION CODE ADDRESS : 47 EAGLE STREET
02 CITY : SAN FRANCISCO
STATE/ZIP : CA 94114
MORTGAGE AMOUNT : 323,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 323,018.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,261.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 71.88800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,569,250.00
P & I AMT: 10,933.78
UPB AMT: 1,567,094.04
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 11
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007700057 MORTGAGORS: GOSS RONALD
GOSS VALERIE
REGION CODE ADDRESS : 7532 WEST 83RD STREET
02 CITY : PLAYA DEL REY AREA
STATE/ZIP : CA 90293
MORTGAGE AMOUNT : 366,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 365,481.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,622.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 63.10300
----------------------------------------------------------------
0 0007700065 MORTGAGORS: HOOVER DONALD
HOOVER ANN
REGION CODE ADDRESS : 10940 PATINA COURT
02 CITY : SAN DIEGO
STATE/ZIP : CA 92131
MORTGAGE AMOUNT : 293,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 293,262.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,053.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.37800
----------------------------------------------------------------
0 0007700099 MORTGAGORS: LIFTON RON
LIFTON LEONORA
REGION CODE ADDRESS : 10290 COLBY AVENUE
02 CITY : CUPERTINO
STATE/ZIP : CA 95014
MORTGAGE AMOUNT : 384,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 383,627.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,686.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 76.07900
----------------------------------------------------------------
0 0007700115 MORTGAGORS: MORGAN DAVID
MORGAN ARLENE
REGION CODE ADDRESS : 1976 CHARDONNAY COURT
02 CITY : LIVERMORE
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 589,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 588,626.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,972.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.95660
----------------------------------------------------------------
0 0007700131 MORTGAGORS: OLSEN CHARLES
OLSEN PATRICIA
REGION CODE ADDRESS : 25742 SAXON WAY
02 CITY : LAKE FOREST
STATE/ZIP : CA 92630
MORTGAGE AMOUNT : 292,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,030.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,970.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,926,000.00
P & I AMT: 13,304.93
UPB AMT: 1,923,029.41
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 12
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007700156 MORTGAGORS: RAVANBACH NOZAR
RAVANBACH FARAH
REGION CODE ADDRESS : 8601 NORTH LA JOLLA SCENIC DRIVE
02 CITY : LA JOLLA
STATE/ZIP : CA 92037
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,374.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,728.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.20700
----------------------------------------------------------------
0 0007700164 MORTGAGORS: VICK JONATHAN
MONTGOMERY LAEL
REGION CODE ADDRESS : 13678 MCNALLY ROAD
02 CITY : VALLEY CENTER
STATE/ZIP : CA 92082
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,389.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,182.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007700180 MORTGAGORS: BEISSINGER STEVEN
SILVER-BEISSINGER WHENDEE
REGION CODE ADDRESS : 1851 CAPISTRANO AVENUE
02 CITY : BERKELEY
STATE/ZIP : CA 94707
MORTGAGE AMOUNT : 364,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 363,401.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,421.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007700198 MORTGAGORS: CHIEM CHESTER
CHIEM LYNN
REGION CODE ADDRESS : 725 RANGER CIRCLE
02 CITY : FOSTER CITY
STATE/ZIP : CA 94404
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,526.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,141.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 66.66600
----------------------------------------------------------------
0 0007700248 MORTGAGORS: HERNANDEZ CARLOS
HERNANDEZ LANA
REGION CODE ADDRESS : 8420 FAIROAKS ROAD
02 CITY : TRACY
STATE/ZIP : CA 95376
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,602.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,670.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 65.26300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,642,000.00
P & I AMT: 11,145.31
UPB AMT: 1,639,293.87
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 13
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007700271 MORTGAGORS: MONTOYA KLAUS
MONTOYA ANTOINETTE
REGION CODE ADDRESS : 2795 VINTAGE COURT
02 CITY : LIVERMORE
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 382,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 381,916.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,641.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007700305 MORTGAGORS: PETTY DWAYNE
ROBERT-PETTY JENNIFER
REGION CODE ADDRESS : 336 CYPRESS AVENUE
02 CITY : SAN BRUNO
STATE/ZIP : CA 94066
MORTGAGE AMOUNT : 256,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,388.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,730.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007700321 MORTGAGORS: RICH DANA
REGION CODE ADDRESS : 1609 QUESADA WAY
02 CITY : BURLINGAME
STATE/ZIP : CA 94010
MORTGAGE AMOUNT : 435,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 434,335.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,004.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007700339 MORTGAGORS: ROGERS ALAN
ROGERS TRESA
REGION CODE ADDRESS : 5805 SALISBURY LANE
02 CITY : SAN LUIS OBISPO
STATE/ZIP : CA 93401
MORTGAGE AMOUNT : 349,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,052.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,384.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007700354 MORTGAGORS: SCHWEIKHARDT PETER
BERNSTEIN LAURIE
REGION CODE ADDRESS : 116 ST ELMO WAY
02 CITY : SAN FRANCISCO
STATE/ZIP : CA 94127
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,518.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,021.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 34.88300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,723,900.00
P & I AMT: 11,782.44
UPB AMT: 1,721,211.78
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 14
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007700396 MORTGAGORS: BELL DOUGLAS
BELL CHERYL
REGION CODE ADDRESS : 10535 BRUNO DRIVE
02 CITY : TUSTIN
STATE/ZIP : CA 92782
MORTGAGE AMOUNT : 273,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,332.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,890.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007700412 MORTGAGORS: BRICKER DAVID
BRICKER SAMANTHA
REGION CODE ADDRESS : 454 SOUTH CITRUS AVENUE
02 CITY : LOS ANGELES
STATE/ZIP : CA 90036
MORTGAGE AMOUNT : 298,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,545.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,058.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.21800
----------------------------------------------------------------
0 0007700420 MORTGAGORS: CARLSON DONALD
CARLSON JULIE
REGION CODE ADDRESS : 4250 CALLE MAR DE BALLENAS
02 CITY : SAN DIEGO
STATE/ZIP : CA 92130
MORTGAGE AMOUNT : 273,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,271.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,867.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007700438 MORTGAGORS: CARPER TIMOTHY
CARPER JODELLE
REGION CODE ADDRESS : 2846 BOWLING GREEN DRIVE
02 CITY : WALNUT CREEK
STATE/ZIP : CA 94598
MORTGAGE AMOUNT : 277,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 276,389.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,913.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 65.95200
----------------------------------------------------------------
0 0007700446 MORTGAGORS: FORD JEFFREY
FORD IMELDA
REGION CODE ADDRESS : 28402 RANCHO GRANDE
02 CITY : LAGUNA NIGUEL
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 298,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,063.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,134.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 73.58000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,420,450.00
P & I AMT: 9,864.14
UPB AMT: 1,417,601.60
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 15
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007700461 MORTGAGORS: MCCAULEY GREG
MCCAULEY SUSAN
REGION CODE ADDRESS : 2365 ROYAL OAKS DRIVE
02 CITY : ALAMO
STATE/ZIP : CA 94507
MORTGAGE AMOUNT : 424,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 423,352.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,928.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007701188 MORTGAGORS: HARRISON BENJAMIN
REGION CODE ADDRESS : 3424 BANKS MOUNTAIN PLACE
02 CITY : GAINESVILLE
STATE/ZIP : GA 30506
MORTGAGE AMOUNT : 294,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 293,539.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,005.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 73.50000
----------------------------------------------------------------
0 0007701394 MORTGAGORS: ALLEN GARY
ALLEN MELFORD
REGION CODE ADDRESS : 7854 TANIA'S COURT
02 CITY : APTOS
STATE/ZIP : CA 95003
MORTGAGE AMOUNT : 276,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,962.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,929.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007701535 MORTGAGORS: CLARK ALAN
CLARK CYNTHIA
REGION CODE ADDRESS : 1662 CALL OF THE WILD COURT
02 CITY : LIVERMORE
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 464,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 463,309.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,244.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.94000
----------------------------------------------------------------
0 0007701550 MORTGAGORS: HORN JERRY
HORN DONNA
REGION CODE ADDRESS : 18528 BENTLEY LANE
02 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92648
MORTGAGE AMOUNT : 360,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 360,385.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,462.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,818,950.00
P & I AMT: 12,570.59
UPB AMT: 1,815,549.90
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 16
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007701642 MORTGAGORS: BACHOFNER MARK
BACHOFNER DESIREE
REGION CODE ADDRESS : 22558 CANYON RIDGE PLACE
02 CITY : CASTRO VALLEY
STATE/ZIP : CA 94552
MORTGAGE AMOUNT : 339,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,418.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,319.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 84.98900
----------------------------------------------------------------
0 0007701667 MORTGAGORS: SHELTON MICHAEL
SHELTON BETH
REGION CODE ADDRESS : 3746 KENSINGTON COURT
02 CITY : SANTA ROSA
STATE/ZIP : CA 95404
MORTGAGE AMOUNT : 318,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 317,850.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,065.14 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007701675 MORTGAGORS: REYNOLDS DANIEL
REYNOLDS MICHELLE
REGION CODE ADDRESS : 620 CRESTMONT DRIVE
02 CITY : SANTA ROSA
STATE/ZIP : CA 95409
MORTGAGE AMOUNT : 300,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,363.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,129.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007701758 MORTGAGORS: RAMUDO ARTURO
RAMUDO SHIRLEY
REGION CODE ADDRESS : 9810 VILLAGE CENTER DRIVE
02 CITY : GRANITE BAY
STATE/ZIP : CA 95746
MORTGAGE AMOUNT : 268,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,090.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,854.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 74.58333
----------------------------------------------------------------
0 0007701766 MORTGAGORS: ROBLEE MARTIN
ROBLEE MONICA
REGION CODE ADDRESS : 2687 NORTH BENTLEY STREET
02 CITY : ORANGE
STATE/ZIP : CA 92867
MORTGAGE AMOUNT : 259,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,503.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,795.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,487,550.00
P & I AMT: 10,162.79
UPB AMT: 1,485,224.79
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 17
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007702038 MORTGAGORS: ZIKA MICHAEL
WOOD-ZIKA ANNMARIE
REGION CODE ADDRESS : 5647 BOBBY DRIVE
02 CITY : LIVERMORE
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 247,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,822.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,707.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007702046 MORTGAGORS: ENOMOTO RONALD
ENOMOTO NANCY
REGION CODE ADDRESS : 9 COUNTRY LANES
02 CITY : SCOTTS VALLEY
STATE/ZIP : CA 95066
MORTGAGE AMOUNT : 351,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,650.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,395.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007702053 MORTGAGORS: DEAN DAVID
WYDNER CATHERINE
REGION CODE ADDRESS : 31 EVIREL PLACE
02 CITY : OAKLAND
STATE/ZIP : CA 94611
MORTGAGE AMOUNT : 264,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,818.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,851.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007702061 MORTGAGORS: CONNELL JULIE
BROOKS VICTORIA
REGION CODE ADDRESS : 2296 LANTANA AVENUE
02 CITY : SAN JOSE
STATE/ZIP : CA 95130
MORTGAGE AMOUNT : 329,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 329,209.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,305.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 77.57600
----------------------------------------------------------------
0 0007702079 MORTGAGORS: HEINRICH KURT
REGION CODE ADDRESS : 1110 WILMINGTON AVENUE
02 CITY : SAN JOSE
STATE/ZIP : CA 95129
MORTGAGE AMOUNT : 258,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,606.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,781.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 64.50000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,450,900.00
P & I AMT: 10,041.95
UPB AMT: 1,448,106.45
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 18
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007702095 MORTGAGORS: DUGGAN DONALD
DUGGAN SALLY
REGION CODE ADDRESS : 2610 WARRING STREET
02 CITY : BERKELEY
STATE/ZIP : CA 94704
MORTGAGE AMOUNT : 455,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 454,505.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,143.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007702103 MORTGAGORS: DERNER DOUG
DERNER MARY
REGION CODE ADDRESS : 3743 KENSINGTON COURT
02 CITY : SANTA ROSA
STATE/ZIP : CA 95404
MORTGAGE AMOUNT : 333,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 333,327.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,277.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
0 0007702111 MORTGAGORS: HADDAD TIMOTHY
HUMPHRY VICTORIA
REGION CODE ADDRESS : 4655 SONOMA MOUNTAIN ROAD
02 CITY : SANTA ROSA
STATE/ZIP : CA 95404
MORTGAGE AMOUNT : 413,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 413,285.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,788.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 89.98900
----------------------------------------------------------------
0 0007702129 MORTGAGORS: WEBER LEONARD
WEBER KRISTIE
REGION CODE ADDRESS : 290 LOS SANTOS DRIVE
02 CITY : BODEGA BAY
STATE/ZIP : CA 94923
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,531.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,967.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007702145 MORTGAGORS: WEISE GEORGE
YEHLE CYNTHIA
REGION CODE ADDRESS : 1227 BEATTIE LANE
02 CITY : SEBASTOPOL
STATE/ZIP : CA 95472
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,126.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,256.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 65.62500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,810,000.00
P & I AMT: 12,434.23
UPB AMT: 1,806,776.61
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 19
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007702152 MORTGAGORS: STOTLER JAMES
STOTLER ALICEMARIE
REGION CODE ADDRESS : 432 EAST COLEMAN PLACE
02 CITY : PLACENTIA
STATE/ZIP : CA 92870
MORTGAGE AMOUNT : 328,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,911.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,296.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007702160 MORTGAGORS: LEFEBVRE CHANNING
LEFEBVRE JENNIFER
REGION CODE ADDRESS : 2127 ARALIA STREET
02 CITY : NEWPORT BEACH
STATE/ZIP : CA 92660
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,550.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,886.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 60.47500
----------------------------------------------------------------
0 0007702178 MORTGAGORS: WILLETT MICHAEL
WILLETT SUE
REGION CODE ADDRESS : 23689 RIDGEWAY
02 CITY : MISSION VIEJO
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 344,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 343,448.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,317.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007702186 MORTGAGORS: HEYMAN STEVEN
HEYMAN CATHERINE
REGION CODE ADDRESS : 17755 APPALOOSA COURT
02 CITY : YORBA LINDA
STATE/ZIP : CA 92886
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,534.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,953.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007702202 MORTGAGORS: RUBIN ALAN
RUBIN ANNE
REGION CODE ADDRESS : 1 OAKDALE
02 CITY : IRVINE
STATE/ZIP : CA 92604
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,535.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,181.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,554,400.00
P & I AMT: 10,635.59
UPB AMT: 1,551,980.13
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 20
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007702210 MORTGAGORS: HARSTAD TERRENCE
HARSTAD KAREN
REGION CODE ADDRESS : 20907 GARTEL DRIVE
02 CITY : WALNUT
STATE/ZIP : CA 91789
MORTGAGE AMOUNT : 600,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 599,106.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,195.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 70.58800
----------------------------------------------------------------
0 0007702236 MORTGAGORS: KRIPALANI MICHEL
REGION CODE ADDRESS : 2475 MONTGOMERY AVENUE
02 CITY : CARDIFF
STATE/ZIP : CA 92007
MORTGAGE AMOUNT : 276,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,557.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,859.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 65.87100
----------------------------------------------------------------
0 0007702301 MORTGAGORS: FOSTER EILEEN
JOHNSON CRAIG
REGION CODE ADDRESS : 1955-1957 TURK STREET
02 CITY : SAN FRANCISCO
STATE/ZIP : CA 94115
MORTGAGE AMOUNT : 343,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 343,313.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,463.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 73.93548
----------------------------------------------------------------
0 0007702335 MORTGAGORS: BRISENO JOE
BRISENO MARTHA
REGION CODE ADDRESS : 1070 SEA ISLAND COURT
02 CITY : BRENTWOOD
STATE/ZIP : CA 94513
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,618.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,789.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007702343 MORTGAGORS: SRIVASTAVA INDRESH
SRIVASTAVA RANJANA
REGION CODE ADDRESS : 848 LEEDS COURT
02 CITY : BENICIA
STATE/ZIP : CA 94510
MORTGAGE AMOUNT : 248,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,579.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,740.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.99600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,724,750.00
P & I AMT: 12,048.48
UPB AMT: 1,722,175.20
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 21
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007702368 MORTGAGORS: MCCUEN JEFF
LOGAN-MCCUEN ELIZABETH
REGION CODE ADDRESS : 7889 CASTILIAN ROAD
02 CITY : DUBLIN
STATE/ZIP : CA 94568
MORTGAGE AMOUNT : 337,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 336,958.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,273.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007702376 MORTGAGORS: HOLE DAVID
HOLE VICKI
REGION CODE ADDRESS : 656 TAMALPAIS AVENUE
02 CITY : NOVATO
STATE/ZIP : CA 94947
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,389.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,762.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007702434 MORTGAGORS: WINKELSTEIN CHARLES
WINKELSTEIN DENISE
REGION CODE ADDRESS : 304 ARLINGTON LANE
02 CITY : SAN MATEO
STATE/ZIP : CA 94402
MORTGAGE AMOUNT : 377,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 376,410.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,571.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 41.88800
----------------------------------------------------------------
0 0007702442 MORTGAGORS: NOLEN JAMES
NOLEN PAULA
REGION CODE ADDRESS : 3065 ASPEN DRIVE
02 CITY : PENRYN
STATE/ZIP : CA 95663
MORTGAGE AMOUNT : 318,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 315,424.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,250.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 74.82353
----------------------------------------------------------------
0 0007702467 MORTGAGORS: BARBER RICHARD
BARBER BEVERLY
REGION CODE ADDRESS : 11196 LAKESHORE SOUTH
02 CITY : AUBURN
STATE/ZIP : CA 95602
MORTGAGE AMOUNT : 454,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 453,289.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,097.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 68.78700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,886,500.00
P & I AMT: 12,956.20
UPB AMT: 1,881,471.66
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 22
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007702509 MORTGAGORS: GLEDHILL JAMES
GLEDHILL CANDACE
REGION CODE ADDRESS : 21805 D'BAGLIO WAY
02 CITY : YORBA LINDA
STATE/ZIP : CA 92887
MORTGAGE AMOUNT : 287,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,460.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,988.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
0 0007702525 MORTGAGORS: AUERBACH GARY
REGION CODE ADDRESS : 826 WOODLAWN AVENUE
02 CITY : VENICE AREA
STATE/ZIP : CA 90291
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,605.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,719.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007702533 MORTGAGORS: DERUSH DAVID
DERUSH PATRICIA
REGION CODE ADDRESS : 6361 NEWBURY DRIVE
02 CITY : HUNTINGTON
STATE/ZIP : CA 92647
MORTGAGE AMOUNT : 358,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 357,892.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,567.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.64444
----------------------------------------------------------------
0 0007702541 MORTGAGORS: LIEDAHL ROBERT
LIEDAHL CATHERINE
REGION CODE ADDRESS : 21731 EXTON WAY
02 CITY : LAKE FOREST
STATE/ZIP : CA 92630
MORTGAGE AMOUNT : 332,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 325,629.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,264.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007702558 MORTGAGORS: ARONSON SAMUEL
ARONSON MARTINE
REGION CODE ADDRESS : 18822 SALT LAKE PLACE
02 CITY : NORTHRIDGE AREA
STATE/ZIP : CA 91326
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,555.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,937.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,514,300.00
P & I AMT: 10,477.40
UPB AMT: 1,506,144.15
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 23
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007702566 MORTGAGORS: FROST RAYMOND
FROST PATRICIA
REGION CODE ADDRESS : 19161 EAST LOMITA AVENUE
02 CITY : ORANGE AREA
STATE/ZIP : CA 92869
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,588.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,663.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 62.50000
----------------------------------------------------------------
0 0007702582 MORTGAGORS: KROTINGER JONATHAN
REGION CODE ADDRESS : 119-121 9TH AVENUE
02 CITY : SAN FRANCISCO
STATE/ZIP : CA 94118
MORTGAGE AMOUNT : 587,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 587,041.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,007.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 78.33300
----------------------------------------------------------------
0 0007702590 MORTGAGORS: MOHAJER FRED
MOHAJER FERI
REGION CODE ADDRESS : 17 LYON
02 CITY : NEWPORT COAST AREA
STATE/ZIP : CA 92657
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,456.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,043.09 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 55.55555
----------------------------------------------------------------
0 0007702608 MORTGAGORS: KRONK DAVID
KRONK KATHLEEN
REGION CODE ADDRESS : 11 NEWCASTLE LANE
02 CITY : LAGUNA NIGUEL
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 645,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 643,990.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,400.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007702624 MORTGAGORS: KONG LAWRENCE
KONG JENNY
REGION CODE ADDRESS : 2419 COSTA DEL SOL
02 CITY : LA VERNE
STATE/ZIP : CA 91750
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,236.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,453.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,297,500.00
P & I AMT: 15,567.56
UPB AMT: 2,294,314.08
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 24
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007702632 MORTGAGORS: BIRMINGHAM PAUL
DEL POZZO RAE
REGION CODE ADDRESS : 17159 AVENIDA DE SANTA YNEZ
02 CITY : PACIFIC PALISADES AREA
STATE/ZIP : CA 90272
MORTGAGE AMOUNT : 492,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 491,210.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,314.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007702640 MORTGAGORS: COLLYER ROBERT
COLLYER MARYANN
REGION CODE ADDRESS : 21062 LEASURE LANE
02 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92646
MORTGAGE AMOUNT : 296,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,217.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,049.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007702657 MORTGAGORS: STRACHAN IAN
STRACHAN BARRI
REGION CODE ADDRESS : 2966 EAST SHAMROCK AVENUE
02 CITY : BREA
STATE/ZIP : CA 92821
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,511.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,210.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007702764 MORTGAGORS: WILSON FRANCIS
WILSON BONITA
REGION CODE ADDRESS : 7927 BRESSINGHAM DRIVE
02 CITY : FAIRFAX STATION
STATE/ZIP : VA 22039
MORTGAGE AMOUNT : 294,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 293,879.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,885.08 OUTSIDE CONV DATE :
LIFETIME RATE : 6.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007702772 MORTGAGORS: STETSON SEAN
STETSON LESLIE
REGION CODE ADDRESS : 16 WISWALL STREET
02 CITY : NEWTON AKA WEST NEWTON
STATE/ZIP : MA 02465
MORTGAGE AMOUNT : 323,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 322,568.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,149.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,726,300.00
P & I AMT: 11,609.48
UPB AMT: 1,723,387.88
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 25
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007702780 MORTGAGORS: SOOD RAVI
SOOD SAVITA
REGION CODE ADDRESS : 7735 ISLAND CREEK COURT
02 CITY : ALEXANDRIA
STATE/ZIP : VA 22315
MORTGAGE AMOUNT : 249,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,790.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,635.76 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 71.86100
----------------------------------------------------------------
0 0007702798 MORTGAGORS: KOCIEMBA ROBERT
REGION CODE ADDRESS : 780 SAINT GEORGE BARBER ROAD
02 CITY : DAVIDSONVILLE
STATE/ZIP : MA 21035
MORTGAGE AMOUNT : 259,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,813.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,703.09 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 85.00000
----------------------------------------------------------------
0 0007702806 MORTGAGORS: DEARBORN DIANNA
REGION CODE ADDRESS : 130 PINERIDGE ROAD
02 CITY : SANTA CRUZ
STATE/ZIP : CA 95060
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,486.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,155.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007702814 MORTGAGORS: WALTER TODD
WALTER ELAINE
REGION CODE ADDRESS : 1927 MONTEMAR WAY
02 CITY : SAN JOSE
STATE/ZIP : CA 95125
MORTGAGE AMOUNT : 372,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 371,373.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,443.78 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007702822 MORTGAGORS: JOHNSON KENNETH
JOHNSON SUSAN
REGION CODE ADDRESS : 985 OLD ORCHARD ROAD
02 CITY : CAMPBELL
STATE/ZIP : CA 95008
MORTGAGE AMOUNT : 428,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 427,362.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,992.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,628,250.00
P & I AMT: 10,931.17
UPB AMT: 1,625,826.53
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 26
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007702830 MORTGAGORS: LEACH RAYFORD
LEACH JOANNE
REGION CODE ADDRESS : 3227 DOLORES DRIVE
02 CITY : SAN RAMON
STATE/ZIP : CA 94583
MORTGAGE AMOUNT : 293,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 293,073.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,077.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 77.23600
----------------------------------------------------------------
0 0007702855 MORTGAGORS: BAILEY JOHN
BAILEY CAROL
REGION CODE ADDRESS : 230 ORCHARD BEND TRAIL
02 CITY : ALPHARETTA
STATE/ZIP : GA 30004
MORTGAGE AMOUNT : 239,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,644.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,671.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.36000
----------------------------------------------------------------
0 0007702871 MORTGAGORS: CAVALLO ROBERT
REGION CODE ADDRESS : 236 LINDSEY PLACE
02 CITY : MARIETTA
STATE/ZIP : GA 30067
MORTGAGE AMOUNT : 335,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 334,462.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,256.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99000
----------------------------------------------------------------
0 0007702889 MORTGAGORS: SHAW DAVID
SHAW JANIS
REGION CODE ADDRESS : 5190 WILD GINGER COVE
02 CITY : NORCROSS
STATE/ZIP : GA 30092
MORTGAGE AMOUNT : 246,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,202.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,660.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 68.44400
----------------------------------------------------------------
0 0007702897 MORTGAGORS: DAVIS MICHAEL
DAVIS CAROLYN
REGION CODE ADDRESS : 4714 OAKLEIGH MANOR DRIVE
02 CITY : POWDER SPRINGS
STATE/ZIP : GA 30127
MORTGAGE AMOUNT : 261,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,751.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,803.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 94.99800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,375,050.00
P & I AMT: 9,469.22
UPB AMT: 1,373,134.87
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 27
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007702905 MORTGAGORS: MECKLER JEFFREY
PACHECO MARIA
REGION CODE ADDRESS : 521 MONTGOMERY ROAD
02 CITY : SEBASTOPOL
STATE/ZIP : CA 95472
MORTGAGE AMOUNT : 273,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,893.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,910.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 89.90100
----------------------------------------------------------------
0 0007702913 MORTGAGORS: FREY MARK
FREY LINDSAY
REGION CODE ADDRESS : 5710 FAWN DRIVE
02 CITY : SANTA ROSA
STATE/ZIP : CA 95409
MORTGAGE AMOUNT : 295,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,159.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,066.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007702939 MORTGAGORS: COSTANTINO TAMMY
TRAVERSO CRAIG
REGION CODE ADDRESS : 26751 STRAFFORD
02 CITY : MISSION VIEJO
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 278,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,953.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,875.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007702954 MORTGAGORS: HARVEY ROBERT
HARVEY LINDA
REGION CODE ADDRESS : 5592 LITTLER DRIVE
02 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92649
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,354.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,981.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007702988 MORTGAGORS: ALDRIDGE WILLIAM
ALDRIDGE INGRID
REGION CODE ADDRESS : 6379 RIVER TIDE DRIVE
02 CITY : MEMPHIS
STATE/ZIP : TN 38120
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,440.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,262.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 73.91300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,467,300.00
P & I AMT: 10,097.34
UPB AMT: 1,464,802.25
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 28
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007703002 MORTGAGORS: NAVARRO ANTHONY
NAVARRO ELIZABETH
REGION CODE ADDRESS : 8520 WILD GAME LANE
02 CITY : OWINGS
STATE/ZIP : MD 20736
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,808.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,671.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 67.12300
----------------------------------------------------------------
0 0007703010 MORTGAGORS: CUNNINGHAM H
CUNNINGHAM SUSAN
REGION CODE ADDRESS : 410 JACKSON STREET NORTH
02 CITY : ARLINGTON
STATE/ZIP : VA 22201
MORTGAGE AMOUNT : 369,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 368,729.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,521.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007703028 MORTGAGORS: TANGUAY NORMAND
AZAR PETER
REGION CODE ADDRESS : 136 WEST NEWTON STREET
02 CITY : BOSTON
STATE/ZIP : MA 02118
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,342.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,661.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 58.39416
----------------------------------------------------------------
0 0007703036 MORTGAGORS: MAHOWALD WARD
MAHOWALD DEANNA
REGION CODE ADDRESS : 1520 JUSTINE COURT
02 CITY : LIVERMORE
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 294,475.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,025.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,033.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.99800
----------------------------------------------------------------
0 0007703044 MORTGAGORS: MCALLISTER CLARKE
MCALLISTER GINA
REGION CODE ADDRESS : 2255 BAILEY HILL ROAD
02 CITY : EUGENE
STATE/ZIP : OR 97405
MORTGAGE AMOUNT : 291,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,732.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,961.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,600,275.00
P & I AMT: 10,849.62
UPB AMT: 1,597,639.33
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 29
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007703069 MORTGAGORS: PIVO GARY
FREEDHEIM CARRIE
REGION CODE ADDRESS : 5310 N. CORTE PUESTA DEL SOL
02 CITY : TUCSON
STATE/ZIP : AZ 85718
MORTGAGE AMOUNT : 464,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 463,237.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,087.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007703077 MORTGAGORS: BARBOUR JAMES
REGION CODE ADDRESS : 9612 CROSSPOINT DRIVE
02 CITY : FAIRFAX STATION
STATE/ZIP : VA 22039
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,566.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,961.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007703085 MORTGAGORS: CRAMER ROBERT
CRAMER MARLENA
REGION CODE ADDRESS : 1851 RIVER RIDGE CIRCLE
02 CITY : NAPERVILLE
STATE/ZIP : IL 60565
MORTGAGE AMOUNT : 326,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 325,526.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,307.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.51200
----------------------------------------------------------------
0 0007703101 MORTGAGORS: SOLTERO RICHARD
REGION CODE ADDRESS : 5700 PASO BONITO
02 CITY : PRESCOTT
STATE/ZIP : AZ 86301
MORTGAGE AMOUNT : 395,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 394,411.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,761.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 68.69500
----------------------------------------------------------------
0 0007703135 MORTGAGORS: SUMMERS TIMOTHY
SUMMERS CARMEL
REGION CODE ADDRESS : 1425 SUN TREE COURT
02 CITY : NAPERVILLE
STATE/ZIP : IL 60564
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,542.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,920.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 77.65600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,754,000.00
P & I AMT: 12,037.94
UPB AMT: 1,751,284.52
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 30
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007703143 MORTGAGORS: REPELLA THEODORE
REPELLA RAE
REGION CODE ADDRESS : 416 WEST OCOTILLO ROAD
02 CITY : PHOENIX
STATE/ZIP : AZ 85013
MORTGAGE AMOUNT : 239,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,334.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,655.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.90000
----------------------------------------------------------------
0 0007703150 MORTGAGORS: NIXON WILLIE
NIXON SARAH
REGION CODE ADDRESS : 2012 KINLEYS WAY
02 CITY : RALEIGH
STATE/ZIP : NC 27614
MORTGAGE AMOUNT : 239,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,644.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,671.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 88.84700
----------------------------------------------------------------
0 0007703168 MORTGAGORS: ERWIN JOAN
REGION CODE ADDRESS : 117 COLGETT DRIVE
02 CITY : OAKLAND
STATE/ZIP : CA 94619
MORTGAGE AMOUNT : 316,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 315,505.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,155.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007703176 MORTGAGORS: DOUGLAS WELDON
REGION CODE ADDRESS : 16820 EAST JACKLIN DRIVE
02 CITY : FOUNTAIN HILLS
STATE/ZIP : AZ 85268
MORTGAGE AMOUNT : 269,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,477.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,841.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.96500
----------------------------------------------------------------
0 0007703184 MORTGAGORS: PIJEWSKI JOHN
BICKNELL ELIZABETH
REGION CODE ADDRESS : 5 WESTWOOD ROAD
02 CITY : SOMERVILLE
STATE/ZIP : MA 02143
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,486.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,155.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,384,600.00
P & I AMT: 9,479.46
UPB AMT: 1,382,448.02
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 31
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007703192 MORTGAGORS: FELL JEFF
FELL LINDA
REGION CODE ADDRESS : 713 CAMELOT PARKWAY
02 CITY : EL CAJON
STATE/ZIP : CA 92019
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,229.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,997.07 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007703200 MORTGAGORS: CAVARRA DONALD
CAVARRA DIANE
REGION CODE ADDRESS : 6609 SOUTH HELENA STREET
02 CITY : FOXFIELD
STATE/ZIP : CO 80016
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,600.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,739.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.85700
----------------------------------------------------------------
0 0007703226 MORTGAGORS: URY FREDERIC
URY DEBBY
REGION CODE ADDRESS : 17 ELLERY LANE
02 CITY : WESTPORT
STATE/ZIP : CT 06880
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,758.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,114.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 55.85500
----------------------------------------------------------------
0 0007703234 MORTGAGORS: BERGER CLINTON
BERGER BRENDA
REGION CODE ADDRESS : 14140 COUNTRY HILLS DRIVE
02 CITY : BRIGHTON
STATE/ZIP : CO 80601
MORTGAGE AMOUNT : 272,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,137.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,883.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007703242 MORTGAGORS: CAPUA JOSEPH
CAPUA ELLEN
REGION CODE ADDRESS : 10 MICHAEL DRIVE
02 CITY : BURLINGTON
STATE/ZIP : MA 01803
MORTGAGE AMOUNT : 481,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 480,882.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,367.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,623,250.00
P & I AMT: 11,101.92
UPB AMT: 1,620,608.95
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 32
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007703259 MORTGAGORS: SITARAS GUS
SITARAS JUDY
REGION CODE ADDRESS : 5733 HAMPTON DRIVE
02 CITY : LONG GROVE
STATE/ZIP : IL 60047
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,593.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,773.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 64.19700
----------------------------------------------------------------
0 0007703267 MORTGAGORS: SMITH BRADFORD
SMITH SHARON
REGION CODE ADDRESS : 4801 S. BUTTERFIELD PLACE
02 CITY : BATTLEFIELD
STATE/ZIP : MO 65619
MORTGAGE AMOUNT : 396,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 395,380.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,701.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007703275 MORTGAGORS: MILLER PHILLIP
MILLER TERRI
REGION CODE ADDRESS : 12800 SW MORNINGSTAR DRIVE
02 CITY : TIGARD
STATE/ZIP : OR 97223
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,627.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,685.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007703283 MORTGAGORS: MILROY JOHN
MILROY DALY
REGION CODE ADDRESS : 3504 CHELAN DRIVE
02 CITY : WEST LINN
STATE/ZIP : OR 97068
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,612.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,817.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 73.23900
----------------------------------------------------------------
0 0007703291 MORTGAGORS: JACKSON KEVIN
JACKSON MIRIAM
REGION CODE ADDRESS : 8220 NORTH CHARLES DRIVE
02 CITY : PARADISE VALLEY
STATE/ZIP : AZ 85253
MORTGAGE AMOUNT : 318,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 317,489.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,142.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.82300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,478,000.00
P & I AMT: 10,120.72
UPB AMT: 1,475,703.69
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 33
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007703309 MORTGAGORS: HOLLANDER BRADLEY
MCCORMICK VICTORIA
REGION CODE ADDRESS : 1010 SOUTH 90TH STREET
02 CITY : OMAHA
STATE/ZIP : NE 68114
MORTGAGE AMOUNT : 273,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,672.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,863.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 94.99100
----------------------------------------------------------------
0 0007703317 MORTGAGORS: CHRISTIANSEN JOHNI
CHRISTIANSEN PATRICIA
REGION CODE ADDRESS : 10707 REGENCY FOREST DRIVE
02 CITY : VIENNA
STATE/ZIP : VA 22181
MORTGAGE AMOUNT : 562,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 561,512.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,932.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.76500
----------------------------------------------------------------
0 0007703325 MORTGAGORS: GUYTON KIT
GUYTON MARY
REGION CODE ADDRESS : 28635 SW SANDALWOOD DRIVE
02 CITY : WILSONVILLE
STATE/ZIP : OR 97070
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,624.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,637.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007703333 MORTGAGORS: DEUTSCH CHARLES
DEUTSCH ANN
REGION CODE ADDRESS : 8327 TURNBERRY COURT
02 CITY : POTOMAC
STATE/ZIP : MD 20854
MORTGAGE AMOUNT : 337,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 337,586.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,304.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 63.14900
----------------------------------------------------------------
0 0007703341 MORTGAGORS: ZIMMERMAN MICHAEL
ZIMMERMAN MELISSA
REGION CODE ADDRESS : 805 PETIT CHALET COURT
02 CITY : LAS VEGAS
STATE/ZIP : NV 89128
MORTGAGE AMOUNT : 480,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 479,248.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,274.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,893,300.00
P & I AMT: 13,011.49
UPB AMT: 1,890,644.99
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 34
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007703358 MORTGAGORS: CUBBAGE CHRISTOPHER
REGION CODE ADDRESS : 2865 WHITE SALMON COURT
02 CITY : WEST LINN
STATE/ZIP : OR 97068
MORTGAGE AMOUNT : 324,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,265.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,160.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 89.99700
----------------------------------------------------------------
0 0007703366 MORTGAGORS: MOELLENBERG DALVA
MOELLENBERG TERI
REGION CODE ADDRESS : 13625 SOUTH 32ND STREET
02 CITY : PHOENIX
STATE/ZIP : AZ 85044
MORTGAGE AMOUNT : 541,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 540,132.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,644.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 77.28500
----------------------------------------------------------------
0 0007703382 MORTGAGORS: HOLDER NICHOLAS
HOLDER MARY
REGION CODE ADDRESS : 102 NORTH MAIN STREET
02 CITY : SHERBORN
STATE/ZIP : MA 01770
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,476.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,036.48 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 77.30600
----------------------------------------------------------------
0 0007703390 MORTGAGORS: PODDAR JAYITA
KUNDU KUNAL
REGION CODE ADDRESS : 475 MILAN DRIVE #109
02 CITY : SAN JOSE
STATE/ZIP : CA 95134
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,572.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,933.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007703408 MORTGAGORS: MITTMAN BRUCE
MITTMAN ELLEN
REGION CODE ADDRESS : 14 LONGMEADOW ROAD
02 CITY : NEWTON
STATE/ZIP : GA 02159
MORTGAGE AMOUNT : 373,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 372,716.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,576.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 55.92200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,828,800.00
P & I AMT: 12,352.33
UPB AMT: 1,826,163.58
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 35
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007703416 MORTGAGORS: SHUMAKER GARY
SHUMAKER ELEANOR
REGION CODE ADDRESS : 9706 FLINTRIDGE COURT
02 CITY : FAIRFAX
STATE/ZIP : VA 22032
MORTGAGE AMOUNT : 286,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,552.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,951.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.44444
----------------------------------------------------------------
0 0007703424 MORTGAGORS: HOFFNER JOHN
HOFFNER JEAN
REGION CODE ADDRESS : 4343 QUAIL RUN LANE
02 CITY : DANVILLE
STATE/ZIP : CA 94506
MORTGAGE AMOUNT : 419,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 419,276.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,829.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 69.99750
----------------------------------------------------------------
0 0007703432 MORTGAGORS: SALAVERRY PHILIP
BECKER BARRIE
REGION CODE ADDRESS : 1411 EDITH STREET
02 CITY : BERKELEY
STATE/ZIP : CA 94710
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,413.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,072.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007703440 MORTGAGORS: TERBORG JAMES
ARIAN CAROL
REGION CODE ADDRESS : 2755 E 40TH AVENUE
02 CITY : EUGENE
STATE/ZIP : OR 97405
MORTGAGE AMOUNT : 263,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,077.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,775.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 57.28200
----------------------------------------------------------------
0 0007703465 MORTGAGORS: COX LEWIS
COX LINDA
REGION CODE ADDRESS : 2223 HARVARD COURT
02 CITY : LONGMONT
STATE/ZIP : CO 80503
MORTGAGE AMOUNT : 243,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,610.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,637.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.76900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,512,450.00
P & I AMT: 10,264.74
UPB AMT: 1,509,929.54
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 36
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007703473 MORTGAGORS: HAIRSTON BRIAN
HAIRSTON LAURA
REGION CODE ADDRESS : 2702 SCENIC MEADOW COURT
02 CITY : SAN JOSE
STATE/ZIP : CA 95135
MORTGAGE AMOUNT : 540,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 539,910.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,597.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
0 0007703481 MORTGAGORS: MERSIOVSKY JOHN
MERSIOVSKY LYNDA
REGION CODE ADDRESS : 12041 DEER RUN
02 CITY : RALEIGH
STATE/ZIP : NC 27614
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,589.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,724.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007703499 MORTGAGORS: MEED PAUL
MEED SUSAN
REGION CODE ADDRESS : 47795 BLACKHOUSE POINT PLACE
02 CITY : STERLING
STATE/ZIP : VA 20165
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,566.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,961.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 72.82000
----------------------------------------------------------------
0 0007703507 MORTGAGORS: MCMANUS JULIE
MCMANUS JAMES
REGION CODE ADDRESS : 2539 EAST MISSOURI AVENUE
02 CITY : PHOENIX
STATE/ZIP : AZ 85016
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,785.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,875.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 73.33300
----------------------------------------------------------------
0 0007703515 MORTGAGORS: CRAIG CEDRIC
CRAIG LYNDA
REGION CODE ADDRESS : 79 MILANO COURT
02 CITY : DANVILLE
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 412,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 411,355.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,810.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,767,800.00
P & I AMT: 11,970.76
UPB AMT: 1,765,207.38
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 37
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007703523 MORTGAGORS: KOENIG DARREN
KOENIG HEATHER
REGION CODE ADDRESS : 1122 SOUTH 22ND STREET
02 CITY : ARLINGTON
STATE/ZIP : VA 22202
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,564.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,634.47 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007703531 MORTGAGORS: AUDAS TIFFANY
RUSSO JANET
REGION CODE ADDRESS : 16592 EAST CRESTLINE PLACE
02 CITY : AURORA
STATE/ZIP : CO 80015
MORTGAGE AMOUNT : 243,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,287.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,703.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 94.99000
----------------------------------------------------------------
0 0007703549 MORTGAGORS: RAVELLA JOHN
ROSSI PAULA
REGION CODE ADDRESS : 291 ARUNDEL ROAD
02 CITY : SAN CARLOS
STATE/ZIP : CA 94070
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,766.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,202.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 64.94800
----------------------------------------------------------------
0 0007703556 MORTGAGORS: BERNARDI TONY
REGION CODE ADDRESS : 5457 WHITLEY PARK TERRACE
02 CITY : BETHESDA
STATE/ZIP : MD 20814
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,607.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,059.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007703564 MORTGAGORS: FARRINGTON PAUL
REGION CODE ADDRESS : 96 ARGILLA ROAD
02 CITY : IPSWICH
STATE/ZIP : MA 01938
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,547.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,829.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 75.34200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,369,650.00
P & I AMT: 9,429.43
UPB AMT: 1,367,773.93
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 38
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007703572 MORTGAGORS: SOWLE GREGORY
REGION CODE ADDRESS : 732 PORTSWOOD DRIVE
02 CITY : SAN JOSE
STATE/ZIP : CA 95120
MORTGAGE AMOUNT : 336,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,487.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,320.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007703598 MORTGAGORS: MERUCCI MICHAEL
MERUCCI PAULA
REGION CODE ADDRESS : 2401 POMONA LANE
02 CITY : WILMETTE
STATE/ZIP : IL 60091
MORTGAGE AMOUNT : 335,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 334,462.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,256.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 50.18700
----------------------------------------------------------------
0 0007703606 MORTGAGORS: BOLDT KENNETH
BOLDT LILLY
REGION CODE ADDRESS : 7921 WEST 104TH PLACE
02 CITY : BROOMFIELD
STATE/ZIP : CO 80021
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,629.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,804.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007703614 MORTGAGORS: HILL HAL
HILL LIESA
REGION CODE ADDRESS : 102 FAIRY TRAIL
02 CITY : LOOK MOUNTAIN
STATE/ZIP : TN 37350
MORTGAGE AMOUNT : 346,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 345,444.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,331.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 89.87000
----------------------------------------------------------------
0 0007703622 MORTGAGORS: SMITH LAWRENCE
REGION CODE ADDRESS : 9160 VALLEY GROVE LANE
02 CITY : SOUTHHAVEN
STATE/ZIP : MS 38671
MORTGAGE AMOUNT : 242,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,801.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,610.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 78.06400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,514,000.00
P & I AMT: 10,323.62
UPB AMT: 1,511,826.02
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 39
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007703630 MORTGAGORS: BILLS JOHN
BILLS SUSAN
REGION CODE ADDRESS : 4198 LOCH MEADE POINTE
02 CITY : LAKELAND
STATE/ZIP : TN 38002
MORTGAGE AMOUNT : 420,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 419,342.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,865.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007703648 MORTGAGORS: MAGDOVITZ EARL
MAGDOVITZ BARBARA
REGION CODE ADDRESS : 9385 OLD PLANTATION COVE
02 CITY : GERMANTOWN
STATE/ZIP : TN 38139
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,752.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,244.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 72.22200
----------------------------------------------------------------
0 0007703655 MORTGAGORS: WEST B.
WEST KATHRYN
REGION CODE ADDRESS : 4529 SHADY GROVE RD
02 CITY : MEMPHIS
STATE/ZIP : TN 38117
MORTGAGE AMOUNT : 239,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,816.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,611.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007703705 MORTGAGORS: FISCHER CHARLES
EVANS WILLIAM
REGION CODE ADDRESS : 500 WEST 43RD STREET UNIT #38A
02 CITY : NEW YORK
STATE/ZIP : NY 10036
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,022.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,934.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 57.44600
----------------------------------------------------------------
0 0007703721 MORTGAGORS: MCNALLY JOHN
MCNALLY DIANE
REGION CODE ADDRESS : LOT 3, 39 WATERFORD DRIVE
02 CITY : HANOVER
STATE/ZIP : MA 02339
MORTGAGE AMOUNT : 310,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,976.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,039.77 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,564,700.00
P & I AMT: 10,695.47
UPB AMT: 1,561,911.23
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 40
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007703739 MORTGAGORS: ANDERSON CARL
CAFORIO CARLA
REGION CODE ADDRESS : 15 GILMORE ROAD
02 CITY : SOUTHBOROUGH
STATE/ZIP : MA 01772
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,343.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,066.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007703747 MORTGAGORS: SANDERS SANDRA
FISCHER TIMOTHY
REGION CODE ADDRESS : 21126 PRESTANCIA DRIVE
02 CITY : MOKENA
STATE/ZIP : IL 60448
MORTGAGE AMOUNT : 293,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,787.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,073.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.18900
----------------------------------------------------------------
0 0007703754 MORTGAGORS: BROWER THOMAS
BROWER DEBORAH
REGION CODE ADDRESS : 4248 CREEKSIDE PASS
02 CITY : ZIONSVILE
STATE/ZIP : IN 46077
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,515.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,272.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 56.52100
----------------------------------------------------------------
0 0007703762 MORTGAGORS: JAKOBER DAVID
JAKOBER AMY
REGION CODE ADDRESS : 5068 ROCKY MOUNTAIN DR
02 CITY : CASTLE ROCK
STATE/ZIP : CO 80104
MORTGAGE AMOUNT : 254,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,680.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,777.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007703770 MORTGAGORS: HAINING BRECK
DENG LI
REGION CODE ADDRESS : 20207 54TH PLACE NORTHEAST
02 CITY : LAKE FOREST PARK
STATE/ZIP : WA 98155
MORTGAGE AMOUNT : 273,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,171.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,866.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,437,850.00
P & I AMT: 10,057.23
UPB AMT: 1,434,497.87
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 41
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007703788 MORTGAGORS: JAMISON JAMEY
JAMISON ANN
REGION CODE ADDRESS : 1960 S ROUTT CT
02 CITY : LAKEWOOD
STATE/ZIP : CO 80227
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,366.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,052.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 67.44100
----------------------------------------------------------------
0 0007703796 MORTGAGORS: HAMM KENNETH
HAMM BRIGITTE
REGION CODE ADDRESS : 13200 67TH AVENUE NE
02 CITY : KIRKLAND
STATE/ZIP : WA 98034
MORTGAGE AMOUNT : 262,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,395.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,791.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 68.74300
----------------------------------------------------------------
0 0007703804 MORTGAGORS: HENNING PAUL
PATTERSON ADELE
REGION CODE ADDRESS : 360 OLD POST ROAD
02 CITY : FAIRFIELD
STATE/ZIP : CT 06430
MORTGAGE AMOUNT : 298,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,521.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,007.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.50000
----------------------------------------------------------------
0 0007703812 MORTGAGORS: ROGERS PATRICK
REGION CODE ADDRESS : 12420 SUNRISE DRIVE NORTHEAST
02 CITY : BAINBRIDGE ISLAND
STATE/ZIP : WA 98110
MORTGAGE AMOUNT : 367,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 366,425.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,503.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 66.72700
----------------------------------------------------------------
0 0007703820 MORTGAGORS: LASH STEPHEN
DUVALL EMILY
REGION CODE ADDRESS : 4979 ARBOR COURT
02 CITY : W BLOOMFIELD TWSP
STATE/ZIP : MI 48324
MORTGAGE AMOUNT : 276,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,534.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,813.13 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,493,600.00
P & I AMT: 10,168.39
UPB AMT: 1,491,244.01
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 42
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007703838 MORTGAGORS: SENAL JONATHAN
REGION CODE ADDRESS : 3752 NORTH WAYNE
02 CITY : CHICAGO
STATE/ZIP : IL 60613
MORTGAGE AMOUNT : 352,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 352,531.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,436.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 72.00000
----------------------------------------------------------------
0 0007703846 MORTGAGORS: LEGACKI LYNN
REGION CODE ADDRESS : 20 JOY STREET, UNIT #4
02 CITY : BOSTON
STATE/ZIP : MA 02114
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,348.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,819.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 91.52500
----------------------------------------------------------------
0 0007703853 MORTGAGORS: SNOW TODD
SNOW SHERI
REGION CODE ADDRESS : 26 BUCKHILL ROAD A/K/A LOT 7
02 CITY : NORTHBOROUGH
STATE/ZIP : MA 01532
MORTGAGE AMOUNT : 283,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,377.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,984.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.97700
----------------------------------------------------------------
0 0007703861 MORTGAGORS: BURGER ARTHUR
BURGER CAROL
REGION CODE ADDRESS : 4407 VACATION LANE
02 CITY : ARLINGTON
STATE/ZIP : VA 22207
MORTGAGE AMOUNT : 316,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 315,517.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,182.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007703879 MORTGAGORS: POGOFSKY SCOTT
POGOFSKY SARIT
REGION CODE ADDRESS : 1430 COUNTRY LANE
02 CITY : DEERFIELD
STATE/ZIP : IL 60015
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,611.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,691.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 47.69200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,470,600.00
P & I AMT: 10,114.45
UPB AMT: 1,468,386.90
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 43
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007703895 MORTGAGORS: SANDERS WILLIAM
REGION CODE ADDRESS : 1619 W PIERCE
02 CITY : CHICAGO
STATE/ZIP : IL 60622
MORTGAGE AMOUNT : 327,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,399.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,264.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.99500
----------------------------------------------------------------
0 0007703903 MORTGAGORS: SANDOR DONALD
SANDOR ELIZABETH
REGION CODE ADDRESS : 23 TALMADGE HILL ROAD
02 CITY : NEW CANAAN
STATE/ZIP : CT 06840
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,793.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,017.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007703929 MORTGAGORS: DIETZ JANICE
DIETZ ANDREW
REGION CODE ADDRESS : 3221 WEST ANDREWS DRIVE
02 CITY : ATLANTA
STATE/ZIP : GA 30305
MORTGAGE AMOUNT : 485,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 483,829.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,267.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 57.05800
----------------------------------------------------------------
0 0007703937 MORTGAGORS: KARGILIS JOHN
KARGILIS KIKUNO
REGION CODE ADDRESS : 17407 DEERPATH DR
02 CITY : NORTHVILLE
STATE/ZIP : MI 48167
MORTGAGE AMOUNT : 241,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,641.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,685.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 61.32300
----------------------------------------------------------------
0 0007703945 MORTGAGORS: SARGENT RODNEY
SARGENT LAURIE
REGION CODE ADDRESS : 1755 268TH PLACE SOUTHEAST
02 CITY : ISSAQUAH
STATE/ZIP : WA 98029
MORTGAGE AMOUNT : 345,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 344,187.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,353.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 78.40900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,683,900.00
P & I AMT: 11,588.08
UPB AMT: 1,680,851.59
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 44
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007703952 MORTGAGORS: LONDON JEFFREY
LONDON ELLEN
REGION CODE ADDRESS : 1185 ROBBIE CT
02 CITY : DEERFIELD
STATE/ZIP : IL 60015
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,340.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,910.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 64.66500
----------------------------------------------------------------
0 0007703960 MORTGAGORS: BUCHANAN WILLIAM
BUCHANAN BARBARA
REGION CODE ADDRESS : 815 SOUTH LUMINA AVENUE
02 CITY : WRIGHTSVILLE BEACH
STATE/ZIP : NC 28480
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 648,886.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,379.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.71200
----------------------------------------------------------------
0 0007703978 MORTGAGORS: MAIKI CELESTINE
MAIKI VIMLA
REGION CODE ADDRESS : 12193 EAST COLUMBINE DRIVE
02 CITY : SCOTTSDALE
STATE/ZIP : AZ 85259
MORTGAGE AMOUNT : 406,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 405,847.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,738.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 70.69500
----------------------------------------------------------------
0 0007703986 MORTGAGORS: MINGUS WILLIAM
MINGUS ROBERTA
REGION CODE ADDRESS : 29 W 531 MEADOW LANE
02 CITY : WARRENVILLE
STATE/ZIP : IL 60555
MORTGAGE AMOUNT : 326,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 325,251.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,251.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 77.61900
----------------------------------------------------------------
0 0007704000 MORTGAGORS: HEURLIN BRUCE
REGION CODE ADDRESS : 6067 NORTH MOON CREST DRIVE
02 CITY : TUCSON
STATE/ZIP : AZ 85718
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,592.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,649.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,910,500.00
P & I AMT: 12,929.48
UPB AMT: 1,906,918.34
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 45
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007704018 MORTGAGORS: SWANSON LARRY
SWANSON DIANE
REGION CODE ADDRESS : 22800 FOREST CIRCLE
02 CITY : NEW MARKET TOWNSHIP
STATE/ZIP : MN 55044
MORTGAGE AMOUNT : 243,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,738.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,699.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 64.82600
----------------------------------------------------------------
0 0007704026 MORTGAGORS: MACEK EDWARD
MACEK LINDA
REGION CODE ADDRESS : 4793 WILDFLOWER COURT
02 CITY : ANN ARBOR
STATE/ZIP : MI 48108
MORTGAGE AMOUNT : 365,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 364,364.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,554.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.41300
----------------------------------------------------------------
0 0007704042 MORTGAGORS: MCCLUSKEY JAMES
REGION CODE ADDRESS : 6515 E. LAFAYETTE BLVD.
02 CITY : SCOTTSDALE
STATE/ZIP : AZ 85251
MORTGAGE AMOUNT : 283,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,832.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,933.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 61.63043
----------------------------------------------------------------
0 0007704059 MORTGAGORS: WILLIAMS CRAIG
WILLIAMS MARY
REGION CODE ADDRESS : 4875 EAST CALLE DEL MEDIO
02 CITY : PHOENIX
STATE/ZIP : AZ 85018
MORTGAGE AMOUNT : 473,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 472,631.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,226.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 78.83300
----------------------------------------------------------------
0 0007704067 MORTGAGORS: STOWERS DAVID
FELDMAN REBECCA
REGION CODE ADDRESS : 19 OLMSTEAD RD
02 CITY : MORRISTOWN
STATE/ZIP : NJ 07960
MORTGAGE AMOUNT : 348,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 347,413.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,286.11 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,712,900.00
P & I AMT: 11,700.80
UPB AMT: 1,709,980.07
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 46
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007704083 MORTGAGORS: DURENBERGER LOUIS
DURENBERGER JILL
REGION CODE ADDRESS : 13226 GLENHAVEN AVENUE
02 CITY : APPLE VALLEY
STATE/ZIP : MN 55124
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,803.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,719.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007704091 MORTGAGORS: LINVILLE RICHARD
LINVILLE SHARON
REGION CODE ADDRESS : 2084 EAST BEAR MOUNTAIN DRIVE
02 CITY : DRAPER
STATE/ZIP : UT 84020
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,582.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,751.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 52.00000
----------------------------------------------------------------
0 0007704109 MORTGAGORS: GLISMANN JOHN
REGION CODE ADDRESS : 0681 SOPRIS MOUNTAIN ROAD
02 CITY : BASALT
STATE/ZIP : CO 81621
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 649,032.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,544.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 50.00000
----------------------------------------------------------------
0 0007704117 MORTGAGORS: QUINCY CHRISTOPHER
QUINCY PAMELA
REGION CODE ADDRESS : 41 COUNTRYSIDE LANE
02 CITY : MILTON
STATE/ZIP : MA 02186
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,561.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,910.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 63.34800
----------------------------------------------------------------
0 0007704125 MORTGAGORS: LEE BRIAN
LEE DONNA
REGION CODE ADDRESS : 7 MCLEAN DRIVE
02 CITY : SUDBURY
STATE/ZIP : MA 01776
MORTGAGE AMOUNT : 382,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 381,601.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,607.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 69.61700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,824,200.00
P & I AMT: 12,533.01
UPB AMT: 1,821,582.28
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 47
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007704133 MORTGAGORS: BOMSTEAD CHRISTINE
BOMSTEAD CARL
REGION CODE ADDRESS : 18823 NE 103RD STREET
02 CITY : REDMOND
STATE/ZIP : WA 98052
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,408.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,395.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 78.26000
----------------------------------------------------------------
0 0007704141 MORTGAGORS: DONOVAN BRIAN
DONOVAN BRENDA
REGION CODE ADDRESS : W304 N5354 EVELYN COURT
02 CITY : HARTLAND
STATE/ZIP : WI 53029
MORTGAGE AMOUNT : 242,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,811.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,650.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 76.82500
----------------------------------------------------------------
0 0007704166 MORTGAGORS: JACOBS MARK
JACOBS PATRICIA
REGION CODE ADDRESS : 8725 COVENTRY
02 CITY : INDIANAPOLIS
STATE/ZIP : IN 46260
MORTGAGE AMOUNT : 245,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,049.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,717.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007704174 MORTGAGORS: FORSYTH SEAN
FORSYTH SHERIDAN
REGION CODE ADDRESS : 1191 FRANKLYN STREET
02 CITY : COROLLA
STATE/ZIP : NC 27927
MORTGAGE AMOUNT : 463,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 462,275.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,158.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 73.49200
----------------------------------------------------------------
0 0007704190 MORTGAGORS: KNUTSON MARK
KNUTSON DONNA
REGION CODE ADDRESS : 3001 RIDGELAND AVENUE
02 CITY : LISLE
STATE/ZIP : IL 60532
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,365.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,773.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.75400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,570,600.00
P & I AMT: 10,695.37
UPB AMT: 1,567,909.93
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 48
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007704208 MORTGAGORS: HUNT JAMES
HUNT TAMMY
REGION CODE ADDRESS : 6222 INGLESIDE DRIVE
02 CITY : WILMINGTON
STATE/ZIP : NC 28409
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,523.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,929.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.45200
----------------------------------------------------------------
0 0007704216 MORTGAGORS: BASTEN CHRISTOPHER
BASTEN MARY
REGION CODE ADDRESS : 3844 CHARLES
02 CITY : NORTHBROOK
STATE/ZIP : IL 60062
MORTGAGE AMOUNT : 289,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 288,774.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,971.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 85.00000
----------------------------------------------------------------
0 0007704224 MORTGAGORS: PAYNE STEPHEN
PAYNE JANE
REGION CODE ADDRESS : 11 BARRINGER ROAD
02 CITY : DARIEN
STATE/ZIP : CT 06820
MORTGAGE AMOUNT : 548,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 547,163.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,784.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007704232 MORTGAGORS: WEINHARDT W.
REGION CODE ADDRESS : 2997 WOODCREEK WAY
02 CITY : BLOOMFIELD
STATE/ZIP : MI 48304
MORTGAGE AMOUNT : 395,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 394,317.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,561.96 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 69.91100
----------------------------------------------------------------
0 0007704240 MORTGAGORS: LIU JEAN
LITTLEHALES JAMES
REGION CODE ADDRESS : 31 LANTERN CIRCLE
02 CITY : STAMFORD
STATE/ZIP : CT 06905
MORTGAGE AMOUNT : 253,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,386.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,665.97 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,775,600.00
P & I AMT: 11,913.70
UPB AMT: 1,773,166.06
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 49
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007704257 MORTGAGORS: NAVIN-CHANDRA DUNDEE
REGION CODE ADDRESS : 7 GOODNOW LANE
02 CITY : FRAMINGHAM
STATE/ZIP : MA 01702
MORTGAGE AMOUNT : 295,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,159.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,062.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.64100
----------------------------------------------------------------
0 0007704265 MORTGAGORS: ECKEL JEFFREY
ECKEL WENDY
REGION CODE ADDRESS : 481 OLD ORCHARD CIRCLE
02 CITY : MILLERSVILLE
STATE/ZIP : MD 21108
MORTGAGE AMOUNT : 306,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 305,778.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,165.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.97900
----------------------------------------------------------------
0 0007704273 MORTGAGORS: MCDONALD ROGER
MCDONALD EVELYN
REGION CODE ADDRESS : 3329 EVERGREEN POINT ROAD
02 CITY : BELLEVUE
STATE/ZIP : WA 98004
MORTGAGE AMOUNT : 415,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 414,382.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,901.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 27.21300
----------------------------------------------------------------
0 0007704281 MORTGAGORS: KENNEALLY KEVIN
KENNEALLY ANNEMARIE
REGION CODE ADDRESS : 21 CHARLES STREET
02 CITY : HINGHAM
STATE/ZIP : MA 02043
MORTGAGE AMOUNT : 333,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 332,491.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,299.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 70.85100
----------------------------------------------------------------
0 0007704299 MORTGAGORS: FARBER NEIL
FARBER LISA
REGION CODE ADDRESS : 3606 WEST CANDLEWICK COURT
02 CITY : MEQUON
STATE/ZIP : WI 53092
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,759.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,101.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,657,000.00
P & I AMT: 11,531.31
UPB AMT: 1,652,571.60
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 50
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007704307 MORTGAGORS: GELDER RALPH
GELDER GENEVIEVE
REGION CODE ADDRESS : 1153 TROON DR.
02 CITY : DESTIN
STATE/ZIP : FL 32541
MORTGAGE AMOUNT : 268,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,379.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,833.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007704315 MORTGAGORS: TRACHTENBERG NEIL
TRACHTENBERG PEGGY
REGION CODE ADDRESS : 8610 NORTH SENDERO TRES M.
02 CITY : PARADISE VALLEY
STATE/ZIP : AZ 85253
MORTGAGE AMOUNT : 412,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 411,322.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,741.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 46.81800
----------------------------------------------------------------
0 0007704323 MORTGAGORS: POTTER KEVIN
POTTER CATHY
REGION CODE ADDRESS : 5850 HIGH FALL ROAD
02 CITY : INDIANAPOLIS
STATE/ZIP : IN 46226
MORTGAGE AMOUNT : 435,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 434,335.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,004.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007704331 MORTGAGORS: CEBRIAN CORNELL
CABASCO-CEBRIAN TERESITA
REGION CODE ADDRESS : 6301 SEWARD PARK AVENUE SOUTH
02 CITY : SEATTLE
STATE/ZIP : WA 98118
MORTGAGE AMOUNT : 258,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,543.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,743.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007704349 MORTGAGORS: HOWARD JOHN
HOWARD JEWEL
REGION CODE ADDRESS : 13500 BUCKEYE DRIVE
02 CITY : NORTHPORT
STATE/ZIP : AL 35476
MORTGAGE AMOUNT : 426,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 425,333.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,906.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 53.25000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,800,550.00
P & I AMT: 12,228.50
UPB AMT: 1,797,914.33
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 51
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007704356 MORTGAGORS: LEWTON CURTIS
LEWTON BARBARA
REGION CODE ADDRESS : 47500 EAST 144TH AVENUE
02 CITY : BENNETT
STATE/ZIP : CO 80102
MORTGAGE AMOUNT : 416,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 415,364.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,873.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007704364 MORTGAGORS: VAN BEBBER MARK
VAN BEBBER JENNIFER
REGION CODE ADDRESS : 21508 SOUTHEAST 32ND STREET
02 CITY : ISSAQUAH
STATE/ZIP : WA 98029
MORTGAGE AMOUNT : 281,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,046.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,990.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007704372 MORTGAGORS: GHOSTLAW GLEN
GHOSTLAW DEIRDRE
REGION CODE ADDRESS : 32 HAMMER HOOK DRIVE
02 CITY : HANOVER
STATE/ZIP : MA 02339
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,784.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,681.74 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007704380 MORTGAGORS: KAUFMAN VAIL
KAUFMAN PATRICIA
REGION CODE ADDRESS : 14646 TRIADELPHIA ROAD
02 CITY : GLENELG
STATE/ZIP : MD 21737
MORTGAGE AMOUNT : 304,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,986.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,000.35 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 76.12500
----------------------------------------------------------------
0 0007704398 MORTGAGORS: XU ZHENG
DAY ERIC
REGION CODE ADDRESS : 190 LANGLEY ROAD
02 CITY : NEWTON
STATE/ZIP : MA 02459
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,737.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,128.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,577,750.00
P & I AMT: 10,674.94
UPB AMT: 1,575,920.94
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 52
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007704406 MORTGAGORS: NEEDHAM THOMAS
ROBINSON DONNA
REGION CODE ADDRESS : 54 JUNIPER ROAD
02 CITY : ANDOVER
STATE/ZIP : MA 01810
MORTGAGE AMOUNT : 277,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,165.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,893.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007704414 MORTGAGORS: ROSLUND LESLIE
ROSLUND CAROLYN
REGION CODE ADDRESS : 26329 MARDINGDALE LAND
02 CITY : EASTON
STATE/ZIP : MD 21601
MORTGAGE AMOUNT : 279,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,040.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,859.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 68.92700
----------------------------------------------------------------
0 0007704422 MORTGAGORS: DIROSA RANDY
PICONE SAMUEL
REGION CODE ADDRESS : 19005 YASKO
02 CITY : NEW BUFFALO RD
STATE/ZIP : MI 49117
MORTGAGE AMOUNT : 296,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,256.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,972.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 70.59500
----------------------------------------------------------------
0 0007704430 MORTGAGORS: GOSSETT CRAIG
GOSSETT SANDRA
REGION CODE ADDRESS : 1406 WOODSBORO
02 CITY : ROYAL OAK
STATE/ZIP : MI 48067
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,809.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,726.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 62.50000
----------------------------------------------------------------
0 0007704448 MORTGAGORS: HALLIDAY BRIAN
BRUCATO CYNTHIA
REGION CODE ADDRESS : 6109 SHERMAN CIRCLE
02 CITY : EDINA
STATE/ZIP : MN 55436
MORTGAGE AMOUNT : 277,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,378.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,870.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,381,200.00
P & I AMT: 9,322.81
UPB AMT: 1,379,650.73
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 53
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007704455 MORTGAGORS: BOTTINI JOHN
BOTTINI TANYA
REGION CODE ADDRESS : 24 DARTMOUTH DRIVE
02 CITY : FRAMINGHAM
STATE/ZIP : MA 01701
MORTGAGE AMOUNT : 305,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 305,033.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,110.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.98500
----------------------------------------------------------------
0 0007704463 MORTGAGORS: GRIFFIN DAVID
GRIFFIN KATHY
REGION CODE ADDRESS : 25 DEL PRETE DRIVE
02 CITY : HINGHAM
STATE/ZIP : MA 02043
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,452.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,387.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 63.63600
----------------------------------------------------------------
0 0007704471 MORTGAGORS: HICKS DAVID
BLACK REBECCA
REGION CODE ADDRESS : 6234 CHATNAM DRIVE SOUTH
02 CITY : SEATTLE
STATE/ZIP : WA 98118
MORTGAGE AMOUNT : 295,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,769.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,012.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 76.22700
----------------------------------------------------------------
0 0007704489 MORTGAGORS: SCHRAGER JEFFREY
SCHRAGER LISA
REGION CODE ADDRESS : 304 S 92ND STREET
02 CITY : OMAHA
STATE/ZIP : NE 68114
MORTGAGE AMOUNT : 425,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 424,334.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,899.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 65.38460
----------------------------------------------------------------
0 0007704497 MORTGAGORS: THOMPSON DAVID
THOMPSON PATRICIA
REGION CODE ADDRESS : 348 SUMMER STREET
02 CITY : MANCHESTER-BY-THE-SEA
STATE/ZIP : MA 01944
MORTGAGE AMOUNT : 311,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 310,522.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,534.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/18
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 66.31900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,687,200.00
P & I AMT: 11,944.22
UPB AMT: 1,684,113.03
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 54
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007704513 MORTGAGORS: HAY ROBERT
HAY ANN
REGION CODE ADDRESS : 12587 LAKE COVENTRY DRIVE
02 CITY : BEALTON
STATE/ZIP : VA 22186
MORTGAGE AMOUNT : 395,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 394,426.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,795.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 87.77700
----------------------------------------------------------------
0 0007704521 MORTGAGORS: DOUSE MARION
SOWINSKA-DOUSE ANNA
REGION CODE ADDRESS : 67 ARELL COURT
02 CITY : ALEXANDRIA
STATE/ZIP : VA 22304
MORTGAGE AMOUNT : 261,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,815.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,869.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 93.21400
----------------------------------------------------------------
0 0007704539 MORTGAGORS: BUDZYNSKI THOMAS
BUDZYNSKI JAN
REGION CODE ADDRESS : 21501 LAKE GEORGE BOULEVARD N.W.
02 CITY : OAK GROVE
STATE/ZIP : MN 55303
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,726.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,387.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 70.71900
----------------------------------------------------------------
0 0007704547 MORTGAGORS: STONE ANDREW
STONE ROSEANNE
REGION CODE ADDRESS : 3839 STONE ROAD, RR#2
02 CITY : SPRINGFIELD
STATE/ZIP : IL 62707
MORTGAGE AMOUNT : 283,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,979.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,931.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 76.23100
----------------------------------------------------------------
0 0007704562 MORTGAGORS: SACKS SCOTT
SACKS CELESTE
REGION CODE ADDRESS : 424 MALLARD LANE
02 CITY : WESTON
STATE/ZIP : FL 33327
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,358.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,046.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,589,200.00
P & I AMT: 11,031.70
UPB AMT: 1,587,307.19
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 55
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007704570 MORTGAGORS: HENSON WILLIAM
REGION CODE ADDRESS : 1231 5TH AVENUE NORTH UNIT 401
02 CITY : SEATTLE
STATE/ZIP : WA 98108
MORTGAGE AMOUNT : 495,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 494,813.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,378.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007704588 MORTGAGORS: HIATT JOHN
HIATT DAWN
REGION CODE ADDRESS : 10548 CHESTNUT HILL COURT
02 CITY : FISHERS
STATE/ZIP : IN 46038
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 276,643.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,933.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.54500
----------------------------------------------------------------
0 0007704596 MORTGAGORS: DANE FRANCIS
DANE MARGI
REGION CODE ADDRESS : 795 SOUTHWEST MENEFEE LANE
02 CITY : PORTLAND
STATE/ZIP : OR 97201
MORTGAGE AMOUNT : 337,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 337,084.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,331.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007704604 MORTGAGORS: ROSENTHAL LINDA
HOLFORD JOHN
REGION CODE ADDRESS : 10905 TIMBERMILL COURT
02 CITY : OAKTON
STATE/ZIP : VA 22124
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,750.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,182.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.41800
----------------------------------------------------------------
0 0007704612 MORTGAGORS: COLVILLE DAVID
COLVILLE RONNI
REGION CODE ADDRESS : 57 JEFFERSON DRIVE
02 CITY : RIDGEFIELD
STATE/ZIP : CT 06877
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,572.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,933.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.68400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,712,800.00
P & I AMT: 11,760.61
UPB AMT: 1,707,865.22
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 56
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007704620 MORTGAGORS: ANDRY JO
REGION CODE ADDRESS : 16 CRAIG LANE
02 CITY : SUDBURY
STATE/ZIP : MA 01776
MORTGAGE AMOUNT : 422,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 421,670.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,878.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 69.18000
----------------------------------------------------------------
0 0007704638 MORTGAGORS: CHAO BENJAMIN
REGION CODE ADDRESS : 4578 WINTERGREEN DRIVE
02 CITY : TROY
STATE/ZIP : MI 48098
MORTGAGE AMOUNT : 353,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 352,433.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,378.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 78.44400
----------------------------------------------------------------
0 0007704646 MORTGAGORS: VON DER LUFT HANS
VON DER LUFT STEPHANIE
REGION CODE ADDRESS : 56 SCHOOL STREET
02 CITY : HINGHAM
STATE/ZIP : MA 02043
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,771.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,072.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 66.66600
----------------------------------------------------------------
0 0007704653 MORTGAGORS: GOULEMAS JASON
GOULEMAS LISA
REGION CODE ADDRESS : 4 BIRCH TREE DRIVE
02 CITY : GEORGETOWN
STATE/ZIP : MA 01833
MORTGAGE AMOUNT : 351,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,450.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,394.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007704661 MORTGAGORS: ROE FRANK
LIVINGSTON KELLY
REGION CODE ADDRESS : 110 CHERRY STREET
02 CITY : NEWTON
STATE/ZIP : MA 02165
MORTGAGE AMOUNT : 247,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,622.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,705.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.93500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,673,000.00
P & I AMT: 11,429.45
UPB AMT: 1,670,949.93
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 57
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007704687 MORTGAGORS: STILLWAGON JOSEPH
REGION CODE ADDRESS : 105 TEMPLE HOLLOW CIR
02 CITY : NASHVILLE
STATE/ZIP : TN 37221
MORTGAGE AMOUNT : 244,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,473.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,526.61 OUTSIDE CONV DATE :
LIFETIME RATE : 6.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.37500 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0007704703 MORTGAGORS: LINDBERG DAVID
LINDBERG REBECCA
REGION CODE ADDRESS : 4629 ARDEN AVENUE SOUTH
02 CITY : EDINA
STATE/ZIP : MN 55424
MORTGAGE AMOUNT : 335,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 334,381.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,228.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 77.01100
----------------------------------------------------------------
0 0007704711 MORTGAGORS: THOMAS TERRY
REGION CODE ADDRESS : 11018 LAKESIDE AVE NE
02 CITY : SEATTLE
STATE/ZIP : WA 98125
MORTGAGE AMOUNT : 246,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,615.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,678.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.87000
----------------------------------------------------------------
0 0007704729 MORTGAGORS: LINARD HOMER
LINARD LAURIE
REGION CODE ADDRESS : 4553 OAK POINTE
02 CITY : BRIGHTON
STATE/ZIP : MI 48116
MORTGAGE AMOUNT : 487,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 486,218.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,281.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 70.07100
----------------------------------------------------------------
0 0007704737 MORTGAGORS: CZARNECKI JOHN
CZARNECKI HEATHER
REGION CODE ADDRESS : 108 HAWKINS CIRCLE
02 CITY : WHEATON
STATE/ZIP : IL 60187
MORTGAGE AMOUNT : 314,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 313,761.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,168.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 71.68949
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,626,700.00
P & I AMT: 10,883.26
UPB AMT: 1,624,449.37
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 58
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007704745 MORTGAGORS: PRESS ERIC
PRESS KATY
REGION CODE ADDRESS : 14133 DOWNING ST
02 CITY : BRIGHTON
STATE/ZIP : CO 80601
MORTGAGE AMOUNT : 267,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,296.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,847.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.67600
----------------------------------------------------------------
0 0007704752 MORTGAGORS: WOLF THOMAS
REGION CODE ADDRESS : 5751 EAST NASSAU PLACE
02 CITY : ENGLEWOOD
STATE/ZIP : CO 80111
MORTGAGE AMOUNT : 265,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,574.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,785.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.64700
----------------------------------------------------------------
0 0007704760 MORTGAGORS: DEENY JON
DEENY JENNIFER
REGION CODE ADDRESS : 17518 SOUTHEAST 46TH STREET
02 CITY : BELLEVUE
STATE/ZIP : WA 98006
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,499.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,182.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 59.53400
----------------------------------------------------------------
0 0007704778 MORTGAGORS: CZARNECKI JOSEPH
REGION CODE ADDRESS : 303 TEROMI TRAIL
02 CITY : MILFORD TWP
STATE/ZIP : MI 48381
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,561.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,910.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007704786 MORTGAGORS: COTT GARY
COTT ALEXANDRA
REGION CODE ADDRESS : 16 CHARTER OAK DRIVE
02 CITY : WILTON
STATE/ZIP : CT 06897
MORTGAGE AMOUNT : 362,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 361,717.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,469.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 57.00700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,494,500.00
P & I AMT: 10,195.45
UPB AMT: 1,492,650.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 59
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007704794 MORTGAGORS: METELL JOSEPH
PETRELLI NICHOLAS
REGION CODE ADDRESS : 21 LINDEN HEIGHTS
02 CITY : NORWALK
STATE/ZIP : CT 06861
MORTGAGE AMOUNT : 249,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,805.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,698.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.32800
----------------------------------------------------------------
0 0007704802 MORTGAGORS: BRANDENBURG ERIC
BRANDENBURG JUANITA
REGION CODE ADDRESS : 14450 NORTHEAST REX HILL COURT
02 CITY : NEWBERG
STATE/ZIP : OR 97132
MORTGAGE AMOUNT : 337,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 336,945.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,245.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007704810 MORTGAGORS: JENNINGS JERRY
JENNINGS PAULA
REGION CODE ADDRESS : 416 NATCHEZ TRACE
02 CITY : SPRINGFIELD
STATE/ZIP : IL 62707
MORTGAGE AMOUNT : 317,071.00 OPTION TO CONVERT :
UNPAID BALANCE : 316,823.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,162.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 69.68500
----------------------------------------------------------------
0 0007704828 MORTGAGORS: KAMOWSKI DAVID
MC GEADY MARY
REGION CODE ADDRESS : 205 BIRCHWOOD DRIVE
02 CITY : BARRINGTON
STATE/ZIP : IL 60010
MORTGAGE AMOUNT : 286,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,151.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,955.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 71.65000
----------------------------------------------------------------
0 0007704836 MORTGAGORS: SKINNER GREGORY
SITES KAREN
REGION CODE ADDRESS : 10998 WHITEHAWK STREET
02 CITY : PLANTATION
STATE/ZIP : FL 33324
MORTGAGE AMOUNT : 317,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 317,115.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,193.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.98300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,507,771.00
P & I AMT: 10,255.70
UPB AMT: 1,505,841.17
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 60
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007704844 MORTGAGORS: LEMIEUX LOIS
REGION CODE ADDRESS : 1035 WEST HILL DRIVE
02 CITY : GATES MILLS
STATE/ZIP : OH 44040
MORTGAGE AMOUNT : 420,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 419,358.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,900.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007704851 MORTGAGORS: PLASTER GARY
PLASTER BEVERLY
REGION CODE ADDRESS : 995 MAPLEWOOD ROAD
02 CITY : LAKE FOREST
STATE/ZIP : IL 60045
MORTGAGE AMOUNT : 441,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 441,219.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,864.21 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007704869 MORTGAGORS: BRAVOS CHRISTOPHER
BRAVOS ATHENA
REGION CODE ADDRESS : 310 N. LINCOLN AVE
02 CITY : PARK RIDGE
STATE/ZIP : IL 60068
MORTGAGE AMOUNT : 258,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,803.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,781.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 65.98400
----------------------------------------------------------------
0 0007704877 MORTGAGORS: VIDAS SCOTT
VIDAS BRIGITTE
REGION CODE ADDRESS : 1700 BRANT CIRCLE
02 CITY : EAGAN
STATE/ZIP : MN 55122
MORTGAGE AMOUNT : 277,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,278.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,869.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.00000
----------------------------------------------------------------
0 0007704893 MORTGAGORS: SIEGEL LAWRENCE
SIEGEL ELENA
REGION CODE ADDRESS : 8052 GRAND AVENUE
02 CITY : BAINBRIDGE ISLAND
STATE/ZIP : WA 98110
MORTGAGE AMOUNT : 317,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 317,015.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,192.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 42.33300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,714,600.00
P & I AMT: 11,609.45
UPB AMT: 1,712,675.76
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 61
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007704901 MORTGAGORS: ARON BARRY
REGION CODE ADDRESS : 219 MASSBURY STREET
02 CITY : GAITHERSBURG
STATE/ZIP : MD 20878
MORTGAGE AMOUNT : 388,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 387,362.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,581.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007704919 MORTGAGORS: FANUCCHI CHARLES
FANUCCHI DENISE
REGION CODE ADDRESS : 2069 CHESHIRE
02 CITY : HOFFMAN ESTATES
STATE/ZIP : IL 60192
MORTGAGE AMOUNT : 257,838.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,444.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,780.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 69.12500
----------------------------------------------------------------
0 0007704927 MORTGAGORS: BURKHART JOHN
BURKHART WENDY
REGION CODE ADDRESS : 4125 PINTAIL LANE
02 CITY : COLORADO SPRINGS
STATE/ZIP : CO 80918
MORTGAGE AMOUNT : 331,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 330,741.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,258.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.56700
----------------------------------------------------------------
0 0007704935 MORTGAGORS: GRIMM JEFFREY
WEBB CHRISTINE
REGION CODE ADDRESS : 13193 NW MASON HILL ROAD
02 CITY : HILLSBORO
STATE/ZIP : OR 97124
MORTGAGE AMOUNT : 332,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,741.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,264.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007704968 MORTGAGORS: WARD DANIEL
WARD LISA
REGION CODE ADDRESS : 4 ROYAL BIRKDALE
02 CITY : SPRINGBORO
STATE/ZIP : OH 45066
MORTGAGE AMOUNT : 271,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,019.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,738.44 OUTSIDE CONV DATE :
LIFETIME RATE : 6.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.62500 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,580,338.00
P & I AMT: 10,623.48
UPB AMT: 1,578,308.77
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 62
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007704976 MORTGAGORS: RUSSELL STEVEN
RUSSELL ANNE
REGION CODE ADDRESS : 7868 S. ARMADILLO TRAIL
02 CITY : EVERGREEN
STATE/ZIP : CO 80439
MORTGAGE AMOUNT : 319,920.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,664.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,155.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007704984 MORTGAGORS: PUGH GUY
REGION CODE ADDRESS : 25 PETER PARLEY ROAD
02 CITY : JAMAICA PLAIN
STATE/ZIP : MA 02130
MORTGAGE AMOUNT : 269,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,905.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,904.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007704992 MORTGAGORS: DUMPH EDWARD
DUMPH BETTY
REGION CODE ADDRESS : 1452 WELD COUNTY ROAD 41
02 CITY : HUDSON
STATE/ZIP : CO 80642
MORTGAGE AMOUNT : 424,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 423,288.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,892.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 76.81100
----------------------------------------------------------------
0 0007705007 MORTGAGORS: SHAEFFER ALAN
LYNCH SUSAN
REGION CODE ADDRESS : 5305 HAMPDEN LAND
02 CITY : BETHESDA
STATE/ZIP : MD 20814
MORTGAGE AMOUNT : 460,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 459,641.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,138.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 65.71428
----------------------------------------------------------------
0 0007705015 MORTGAGORS: WOLFSON LYN
REGION CODE ADDRESS : 1624 WEST ERIE STREET
02 CITY : CHICAGO
STATE/ZIP : IL 60622
MORTGAGE AMOUNT : 289,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 288,785.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,020.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.06400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,762,020.00
P & I AMT: 12,111.21
UPB AMT: 1,760,284.19
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 63
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007705023 MORTGAGORS: WILKINSON JEFFREY
WILKINSON LESA
REGION CODE ADDRESS : 772 EEAST FOREST SIDE CIRCLE
02 CITY : MURRAY
STATE/ZIP : UT 84107
MORTGAGE AMOUNT : 450,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 449,278.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,031.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 72.81500
----------------------------------------------------------------
0 0007705049 MORTGAGORS: VOLKMANN DONALD
VOLKMANN CHRISTINA
REGION CODE ADDRESS : 3644 LOVEJOY COURT NORTHEAST
02 CITY : OLYMPIA
STATE/ZIP : WA 98506
MORTGAGE AMOUNT : 620,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 619,991.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,128.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.55100
----------------------------------------------------------------
0 0007705056 MORTGAGORS: DIAMOND JONATHON
DIAMOND PAMELA
REGION CODE ADDRESS : 7860 S.E. 62ND STREET
02 CITY : MERCER ISLAND
STATE/ZIP : WA 98040
MORTGAGE AMOUNT : 533,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 532,186.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,681.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 74.54545
----------------------------------------------------------------
0 0007705064 MORTGAGORS: PRAKASH DIVYA
PRAKASH MONISHA
REGION CODE ADDRESS : 10 FIREBRICK ROAD
02 CITY : SHARON
STATE/ZIP : MA 02067
MORTGAGE AMOUNT : 300,160.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,690.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,047.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007705072 MORTGAGORS: BATHE DAVID
BATHE BETH
REGION CODE ADDRESS : 230 MOORE AVENUE S.E.
02 CITY : VIENNA
STATE/ZIP : VA 22180
MORTGAGE AMOUNT : 344,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 344,286.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,410.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.15000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,248,460.00
P & I AMT: 15,299.76
UPB AMT: 2,245,432.78
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 64
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007705080 MORTGAGORS: PAVLIK MICHAEL
PAVLIK JULIE
REGION CODE ADDRESS : 6635 N PRAYING MONK ROAD
02 CITY : PARADISE VALLEY
STATE/ZIP : AZ 85253
MORTGAGE AMOUNT : 264,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,899.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,824.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 58.81960
----------------------------------------------------------------
0 0007705106 MORTGAGORS: LARSON TIMOTHY
O'DONNELL KATHLEEN
REGION CODE ADDRESS : 4600 COLFAX AVENUE SOUTH
02 CITY : MINNEAPOLIS
STATE/ZIP : MN 55409
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,776.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,886.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007705122 MORTGAGORS: O'DONNELL TIMOTHY
O'DONNELL BILLIE
REGION CODE ADDRESS : 16944-81ST PLACE NORTH
02 CITY : MAPLE GROVE
STATE/ZIP : MN 55311
MORTGAGE AMOUNT : 262,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,594.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,792.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007705130 MORTGAGORS: SWARTZWELTER JAY
SWARTZWELTER DIANA
REGION CODE ADDRESS : 8324 GREENWOOD DRIVE
02 CITY : NIWOT
STATE/ZIP : CO 80503
MORTGAGE AMOUNT : 574,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 574,151.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,919.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 76.61300
----------------------------------------------------------------
0 0007705148 MORTGAGORS: SALFI PAUL
SALFI AMY
REGION CODE ADDRESS : 5111 NEWPORT AVENUE
02 CITY : BETHESDA
STATE/ZIP : MD 20816
MORTGAGE AMOUNT : 245,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,303.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,653.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.96742
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,627,000.00
P & I AMT: 11,077.01
UPB AMT: 1,625,725.56
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 65
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007705155 MORTGAGORS: LOKEN TIMOTHY
LOKEN JULIE
REGION CODE ADDRESS : 5235 N. ARM DRIVE
02 CITY : MINNETRISTA
STATE/ZIP : MN 55364
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,494.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,122.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 71.59000
----------------------------------------------------------------
0 0007705163 MORTGAGORS: NIEDERGERKE THOMAS
NIEDERGERKE DEBORAH
REGION CODE ADDRESS : 5103 NORTHEAST 44TH STREET
02 CITY : SEATTLE
STATE/ZIP : WA 98105
MORTGAGE AMOUNT : 332,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,747.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,293.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007705171 MORTGAGORS: MILINOVICH MICHAEL
MILINOVICH MARTHA
REGION CODE ADDRESS : 20626 NORTH 83RD PLACE
02 CITY : SCOTTSDALE
STATE/ZIP : AZ 85255
MORTGAGE AMOUNT : 402,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 401,678.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,708.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.93700
----------------------------------------------------------------
0 0007705189 MORTGAGORS: WHITCOMB KYLE
WHITCOMB DEBORAH
REGION CODE ADDRESS : 1390 LUDLOW RD
02 CITY : XENIA
STATE/ZIP : OH 45385
MORTGAGE AMOUNT : 297,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,768.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,026.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.20000
----------------------------------------------------------------
0 0007705197 MORTGAGORS: INFELISE PHILLIP
ALBRITTON PHYLLIS
REGION CODE ADDRESS : 27567 MOUNTAIN PARK ROAD
02 CITY : EVERGREEN
STATE/ZIP : CO 80439
MORTGAGE AMOUNT : 258,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,103.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,784.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 64.57500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,604,300.00
P & I AMT: 10,933.67
UPB AMT: 1,602,792.40
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 66
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007705213 MORTGAGORS: WADE JOHN
WADE ELIZABETH
REGION CODE ADDRESS : 19535 NORTHEAST 188TH STREET
02 CITY : WOODINVILLE
STATE/ZIP : WA 98072
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,823.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,727.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007705221 MORTGAGORS: MONROE WILLIAM
MONROE DONNA
REGION CODE ADDRESS : 6217 OLD MILITARY RD
02 CITY : WILMINGTON
STATE/ZIP : NC 28409
MORTGAGE AMOUNT : 322,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 322,254.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,227.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007705239 MORTGAGORS: YAHKIND ALEXANDER
YAHKIND VERONICA
REGION CODE ADDRESS : 4078 MARLWOOD DRIVE
02 CITY : WEST BLOOMFIELD
STATE/ZIP : MI 48323
MORTGAGE AMOUNT : 268,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,896.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,851.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 66.03400
----------------------------------------------------------------
0 0007705247 MORTGAGORS: GALVIN DAN
GALVIN SANDRA
REGION CODE ADDRESS : 715 MARINER
02 CITY : AUSTIN
STATE/ZIP : TX 78734
MORTGAGE AMOUNT : 344,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 343,434.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,288.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007705254 MORTGAGORS: REED DONALD
REED GALE
REGION CODE ADDRESS : 2210 ENCANTO DRIVE NORTHEAST
02 CITY : PHOENIX
STATE/ZIP : AZ 85007
MORTGAGE AMOUNT : 322,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 322,510.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,256.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 73.35200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,501,350.00
P & I AMT: 10,351.50
UPB AMT: 1,499,918.87
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 67
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007705262 MORTGAGORS: NIEMIEC EDWARD
NIEMIEC SUZANNE
REGION CODE ADDRESS : 420 FOX COURT
02 CITY : ST CHARLES
STATE/ZIP : IL 60174
MORTGAGE AMOUNT : 283,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,979.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,931.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007705270 MORTGAGORS: CLARK DAVID
CLARK CYNDI
REGION CODE ADDRESS : 1836 STONEBRIDGE
02 CITY : ANN ARBOR
STATE/ZIP : MI 48104
MORTGAGE AMOUNT : 420,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 419,672.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,865.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007705288 MORTGAGORS: JUNEAU DAVID
JUNEAU DEBORAH
REGION CODE ADDRESS : 35 TAVERN CIRCLE
02 CITY : SUDBURY
STATE/ZIP : MA 01776
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,748.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,893.91 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 47.09600
----------------------------------------------------------------
0 0007705296 MORTGAGORS: MOSHIER CHRISTOPHER
MOSHIER NANCY
REGION CODE ADDRESS : 523 ARGYLE BLVD.
02 CITY : BIRMINGHAM
STATE/ZIP : MI 48009
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,775.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,194.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 61.63021
----------------------------------------------------------------
0 0007705304 MORTGAGORS: BERSON RICHARD
BERSON DJAMILA
REGION CODE ADDRESS : 18120 NW 16TH STREET
02 CITY : PEMBROKE PINES
STATE/ZIP : FL 33029
MORTGAGE AMOUNT : 240,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,354.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,601.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,545,950.00
P & I AMT: 10,486.85
UPB AMT: 1,544,529.81
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 68
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007705312 MORTGAGORS: SWAN CYNTHIA
GAGE ROBERT
REGION CODE ADDRESS : 4284 GADWALL COURT
02 CITY : EAGAN
STATE/ZIP : MN 55122
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,803.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,719.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007705320 MORTGAGORS: CHECK JOEL
CHECK LAUREL
REGION CODE ADDRESS : 47544 SE 137TH STREET
02 CITY : NORTH BEND
STATE/ZIP : WA 98045
MORTGAGE AMOUNT : 291,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,076.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,063.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 74.74300
----------------------------------------------------------------
0 0007705338 MORTGAGORS: O'TOOLE MICHAEL
MCDANIEL MINDY
REGION CODE ADDRESS : 5654 SOUTH JACKPINE ROAD
02 CITY : EVERGREEN
STATE/ZIP : CO 80440
MORTGAGE AMOUNT : 346,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 345,716.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,301.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 72.08300
----------------------------------------------------------------
0 0007705346 MORTGAGORS: ADAMS A.
ADAMS PAMELA
REGION CODE ADDRESS : 1619 HARBOR AVENUE SOUTHWEST UNIT 4
02 CITY : SEATTLE
STATE/ZIP : WA 98126
MORTGAGE AMOUNT : 484,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 483,631.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,342.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007705361 MORTGAGORS: FOLEY KEVIN
FOLEY ELIZABETH
REGION CODE ADDRESS : 6349 OISIN COURT
02 CITY : DUBLIN
STATE/ZIP : OH 43017
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,804.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,705.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,623,500.00
P & I AMT: 11,132.56
UPB AMT: 1,622,033.19
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 69
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007705379 MORTGAGORS: PHELAN JOHN
PHELAN ANNE
REGION CODE ADDRESS : 5806 WINDSONA CIRCLE
02 CITY : FITCHBURG
STATE/ZIP : WI 53711
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,726.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,486.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 76.59574
----------------------------------------------------------------
0 0007705387 MORTGAGORS: EHLERT KURT
EHLERT LORI
REGION CODE ADDRESS : 1585 BARRINGTON WOODS DRIVE
02 CITY : BROOKFIELD
STATE/ZIP : WI 53045
MORTGAGE AMOUNT : 289,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 288,774.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,971.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.17800
----------------------------------------------------------------
0 0007705395 MORTGAGORS: WAGNER CLYDE
WAGNER DEBRA
REGION CODE ADDRESS : 8650 136TH STREET NORTH
02 CITY : HUGO
STATE/ZIP : MN 55038
MORTGAGE AMOUNT : 286,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,776.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,951.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.26300
----------------------------------------------------------------
0 0007705403 MORTGAGORS: GRAVES RONALD
GRAVES RHONDA
REGION CODE ADDRESS : 1181 O'RYAN TRAIL NORTH
02 CITY : WEST LAKELAND TOWNSHIP
STATE/ZIP : MN 55082
MORTGAGE AMOUNT : 263,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,694.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,800.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0007705411 MORTGAGORS: GROTH KARI-LU
JANSA MARK
REGION CODE ADDRESS : 14731 COPPERFIELD PLACE
02 CITY : MINNETONKA
STATE/ZIP : MN 55391
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,750.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,102.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,510,900.00
P & I AMT: 10,311.22
UPB AMT: 1,509,722.14
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 70
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007705445 MORTGAGORS: BLECK PATRICK
REGION CODE ADDRESS : 4021 39TH AVENUE SOUTHWEST
02 CITY : SEATTLE
STATE/ZIP : WA 98116
MORTGAGE AMOUNT : 260,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,902.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,796.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007705452 MORTGAGORS: KELLEY GAIL
NOSTE JOAN
REGION CODE ADDRESS : 5629 94TH PLACE SOUTHWEST
02 CITY : MUKILTEO
STATE/ZIP : WA 98275
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,772.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,920.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 77.02700
----------------------------------------------------------------
0 0007705460 MORTGAGORS: CAMASTRAL BRIAN
CAMASTRAL LYNN
REGION CODE ADDRESS : 2005 GREENWOOD
02 CITY : WILMETTE
STATE/ZIP : IL 60091
MORTGAGE AMOUNT : 392,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 391,662.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,542.51 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007705494 MORTGAGORS: NORRIS TIMOTHY
NORRIS AMANDA
REGION CODE ADDRESS : 5941 WOODTHRUSH LANE
02 CITY : WEST CHESTER
STATE/ZIP : OH 45069
MORTGAGE AMOUNT : 277,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 276,789.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,913.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.14200
----------------------------------------------------------------
0 0007705502 MORTGAGORS: SMITH ROBERT
SMITH NATALIE
REGION CODE ADDRESS : 11908 PINEY GLEN LANE
02 CITY : POTOMAC
STATE/ZIP : MD 20854
MORTGAGE AMOUNT : 447,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 446,642.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,011.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.96400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,661,100.00
P & I AMT: 11,183.75
UPB AMT: 1,659,768.43
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 71
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007705536 MORTGAGORS: AUSTIN KEVIN
AUSTIN ALICIA
REGION CODE ADDRESS : 1518 148TH PLACE S.E.
02 CITY : MILL CREEK
STATE/ZIP : WA 98012
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,762.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,073.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007705544 MORTGAGORS: DEMUTH ROBERT
DEMUTH BRENDA
REGION CODE ADDRESS : 7538 CROWN POINT DRIVE
02 CITY : HUDSON
STATE/ZIP : OH 44236
MORTGAGE AMOUNT : 344,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 343,738.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,375.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007705551 MORTGAGORS: GARDENER JAMES
GARDENER MARILYN
REGION CODE ADDRESS : 2603 TROTTERS RUN
02 CITY : BLOOMINGTON
STATE/ZIP : IN 47401
MORTGAGE AMOUNT : 258,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,543.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,743.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007705577 MORTGAGORS: POPE FREDERICK
REGION CODE ADDRESS : 1184 EAGLE DRIVE
02 CITY : AVON
STATE/ZIP : CO 81620
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,752.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,088.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 37.80400
----------------------------------------------------------------
0 0007705585 MORTGAGORS: MILLER ROBERT
MILLER DEBRA
REGION CODE ADDRESS : 1901 KING EDWARD AVENUE
02 CITY : ST CHARLES
STATE/ZIP : IL 60174
MORTGAGE AMOUNT : 327,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,444.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,235.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,544,450.00
P & I AMT: 10,517.02
UPB AMT: 1,543,240.64
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 72
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007705593 MORTGAGORS: MULCAHY PATRICK
MULCAHY KATHRYN
REGION CODE ADDRESS : 20685 BARTLETT COURT
02 CITY : BROOKFIELD
STATE/ZIP : WI 53045
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,762.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007706195 MORTGAGORS: MESTEL ZELIG
MESTEL RITA
REGION CODE ADDRESS : 4598 HAZLETON LANE
02 CITY : LAKE WORTH
STATE/ZIP : FL 33467
MORTGAGE AMOUNT : 236,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,416.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,570.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.19400
----------------------------------------------------------------
0 0007706278 MORTGAGORS: SASTRY HIMAMSHU
SASTRY SHOBHA
REGION CODE ADDRESS : 2887 WILD GINGER CT
02 CITY : WINTER PARK
STATE/ZIP : FL 32792
MORTGAGE AMOUNT : 305,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 304,281.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,080.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.75400
----------------------------------------------------------------
0 0007706401 MORTGAGORS: MAYSE KENNETH
MAYSE SHELLY
REGION CODE ADDRESS : 10124 FOXHURST COURT
02 CITY : ORLANDO
STATE/ZIP : FL 32836
MORTGAGE AMOUNT : 242,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,042.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,675.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 94.99200
----------------------------------------------------------------
0 0031200835 MORTGAGORS: LANZANO JAMES
LANZANO REBECCA
REGION CODE ADDRESS : BLUE HERON ROAD
01 CITY : BLOOMING GROVE
STATE/ZIP : NY 10914
MORTGAGE AMOUNT : 350,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,833.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,418.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 93.48400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,453,700.00
P & I AMT: 9,981.88
UPB AMT: 1,451,337.07
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 73
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031329832 MORTGAGORS: DIONISIO ARNEL
DIONISIO EDWINA
REGION CODE ADDRESS : 25836 CLEAR SPRINGS COURT
01 CITY : CASTRO VALLEY
STATE/ZIP : CA 94552
MORTGAGE AMOUNT : 288,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 288,463.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,920.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.98300
----------------------------------------------------------------
0 0031549538 MORTGAGORS: NOBLE FRED
NOBLE MARION
REGION CODE ADDRESS : 3433 CAMINO CORTE
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,123.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 67.24900
----------------------------------------------------------------
0 0031550700 MORTGAGORS: STEWART GREGORY
STEWART MARY
REGION CODE ADDRESS : 107 BROWNING CIRCLE
01 CITY : NORTH WALES
STATE/ZIP : PA 19454
MORTGAGE AMOUNT : 273,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,947.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,909.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 94.99300
----------------------------------------------------------------
0 0031608169 MORTGAGORS: MANDANIS STEFAN
MANDANIS MELODIE
REGION CODE ADDRESS : 15010 WHITETAIL WAY
01 CITY : DARNESTOWN
STATE/ZIP : MD 20878
MORTGAGE AMOUNT : 313,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 313,311.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,165.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.99800
----------------------------------------------------------------
0 0031616964 MORTGAGORS: FINKELSTEIN SUSAN
REGION CODE ADDRESS : 1140 STURGES HIGHWAY
01 CITY : FAIRFIELD
STATE/ZIP : CT 06430
MORTGAGE AMOUNT : 625,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 625,158.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,481.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,801,000.00
P & I AMT: 12,601.52
UPB AMT: 1,799,880.50
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 74
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031640766 MORTGAGORS: THIENEL ANDREAS
THIENEL SANDRA
REGION CODE ADDRESS : 58 WOODLAND DRIVE
01 CITY : OYSTER BAY COVE
STATE/ZIP : NY 11771
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 649,505.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,489.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 76.47000
----------------------------------------------------------------
0 0031643471 MORTGAGORS: LOBL RICHARD
REGION CODE ADDRESS : 114-114 1/2 AMETHYST AVENUE
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92662
MORTGAGE AMOUNT : 520,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 519,244.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,680.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 61.17600
----------------------------------------------------------------
0 0031650864 MORTGAGORS: APGAR DAVID
MOELLER ANN
REGION CODE ADDRESS : 2804 DUMBARTON STREET NW
01 CITY : WASHINGTON
STATE/ZIP : DC 20007
MORTGAGE AMOUNT : 372,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 371,079.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,474.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031656382 MORTGAGORS: LEWIS PAUL
LEWIS MARI
REGION CODE ADDRESS : 6706 DESCO DRIVE
01 CITY : DALLAS
STATE/ZIP : TX 75225
MORTGAGE AMOUNT : 630,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 628,952.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,354.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.49500
----------------------------------------------------------------
0 0031656812 MORTGAGORS: RUMBLE BARRY
RUMBLE KATHLEEN
REGION CODE ADDRESS : 815 DANDY LOOP RD
01 CITY : YORKTOWN
STATE/ZIP : VA 23692
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,542.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,072.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.02000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,472,400.00
P & I AMT: 17,070.90
UPB AMT: 2,468,324.27
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 75
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031657364 MORTGAGORS: KLOTZ MICHAEL
KLOTZ TERRY
REGION CODE ADDRESS : 6 WINSLOW ROAD
01 CITY : WHITE PLAINS
STATE/ZIP : NY 10606
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,768.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,953.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 66.66600
----------------------------------------------------------------
0 0031657521 MORTGAGORS: BENNETT MAURICE
BENNETT SAMANTHA
REGION CODE ADDRESS : 127-129 27TH STREET
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94110
MORTGAGE AMOUNT : 410,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 409,680.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,796.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 71.92900
----------------------------------------------------------------
0 0031658131 MORTGAGORS: HURLEY THOMAS
HURLEY DIANE
REGION CODE ADDRESS : 75 PARKVIEW DRIVE
01 CITY : TOWNSHIP OF ROXBURY
STATE/ZIP : NJ 07886
MORTGAGE AMOUNT : 264,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,928.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,894.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 92.97000
----------------------------------------------------------------
0 0031660004 MORTGAGORS: CLIFTON RANDY
CLIFTON MARY ANN
REGION CODE ADDRESS : 140 OMALLEY ROAD
01 CITY : MARLBORO
STATE/ZIP : MA 01752
MORTGAGE AMOUNT : 265,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,794.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,785.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 77.48500
----------------------------------------------------------------
0 0031660236 MORTGAGORS: PALMITER JAMES
PALMITER SUSAN
REGION CODE ADDRESS : 24 SPRING HOLLOW DRIVE
01 CITY : HOPEWELL
STATE/ZIP : NJ 08525
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,463.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,517.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.78900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,589,500.00
P & I AMT: 10,948.14
UPB AMT: 1,582,634.57
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 76
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031660772 MORTGAGORS: CHATTERJEE RANENDRA
CHATTERJEE RUPA
REGION CODE ADDRESS : 410 HIGHLAND STREET
01 CITY : MILTON
STATE/ZIP : MA 02186
MORTGAGE AMOUNT : 415,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 415,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,795.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.45400
----------------------------------------------------------------
0 0031662067 MORTGAGORS: SUHRE NEIL
SUHRE LAUREN
REGION CODE ADDRESS : 704 PEACH TREE DRIVE
01 CITY : WEST CHESTER
STATE/ZIP : PA 19380
MORTGAGE AMOUNT : 331,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 330,855.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,204.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.85500
----------------------------------------------------------------
0 0031662091 MORTGAGORS: PUMPHREY W.
PUMPHREY JOANNA
REGION CODE ADDRESS : 3406 CASILEAR ROAD
01 CITY : FALLS CHURCH
STATE/ZIP : VA 22042
MORTGAGE AMOUNT : 273,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,751.89 OUTSIDE CONV DATE :
LIFETIME RATE : 6.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031664857 MORTGAGORS: SILK MICHAEL
SILK EILEEN
REGION CODE ADDRESS : 225 WILLOWGATE RISE
01 CITY : HOLLISTON
STATE/ZIP : MA 01746
MORTGAGE AMOUNT : 276,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 276,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,929.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.42400
----------------------------------------------------------------
0 0031666118 MORTGAGORS: BIRD LARRY
BIRD SUSAN
REGION CODE ADDRESS : 333 AVONDALE LANE
01 CITY : LIVERMORE
STATE/ZIP : CA 96550
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 298,813.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 64.51600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,596,000.00
P & I AMT: 10,780.13
UPB AMT: 1,594,268.78
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 77
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031666837 MORTGAGORS: MISDOM KEITH
MISDOM JANINE
REGION CODE ADDRESS : 88 WELLINGTON DRIVE
01 CITY : TINTON FALLS
STATE/ZIP : NJ 07724
MORTGAGE AMOUNT : 293,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,771.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,998.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.98700
----------------------------------------------------------------
0 0031666910 MORTGAGORS: DODICK-SPERBER SUE
DODICK-SPERBER LAURENCE
REGION CODE ADDRESS : 28 CAYUGA ROAD
01 CITY : SCARSDALE
STATE/ZIP : NY 10583
MORTGAGE AMOUNT : 606,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 605,527.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,133.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.14200
----------------------------------------------------------------
0 0031667025 MORTGAGORS: AKS RICHARD
AKS NANCY
REGION CODE ADDRESS : 155 BREWSTER ROAD
01 CITY : SCARSDALE
STATE/ZIP : NY 10583
MORTGAGE AMOUNT : 575,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 574,551.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,922.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 73.71700
----------------------------------------------------------------
0 0031667751 MORTGAGORS: GROSS SYLVIA
PEINADO ALEJANDRO
REGION CODE ADDRESS : 26 LYNWOOD ROAD
01 CITY : SCARSDALE
STATE/ZIP : NY 10583
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,762.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,929.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 61.83368
----------------------------------------------------------------
0 0031670839 MORTGAGORS: MOORE KATHRYN
MOORE RANDALL
REGION CODE ADDRESS : 43 HIGH ROCK ROAD
01 CITY : WAYLAND
STATE/ZIP : MA 01778
MORTGAGE AMOUNT : 441,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 440,664.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,045.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.45900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,205,000.00
P & I AMT: 15,030.54
UPB AMT: 2,203,276.86
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 78
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031673148 MORTGAGORS: BALWANI ANIL
REGION CODE ADDRESS : 3 WYNCREST ROAD
01 CITY : MARLBORO
STATE/ZIP : NJ 07746
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,814.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,748.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 86.50500
----------------------------------------------------------------
0 0031675390 MORTGAGORS: HALPERN JAY
REGION CODE ADDRESS : 22 CHAGALL DRIVE
01 CITY : MARLBORO
STATE/ZIP : NJ 07746
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,733.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,417.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 77.77700
----------------------------------------------------------------
0 0031675432 MORTGAGORS: FRANKE MICHAEL
REGION CODE ADDRESS : 130 PINE KNOLL DRIVE
01 CITY : CHESNEE
STATE/ZIP : SC 29323
MORTGAGE AMOUNT : 425,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 424,684.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,971.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 73.91300
----------------------------------------------------------------
0 0031677503 MORTGAGORS: PERLOV LARRY
PERLOV DELIA
REGION CODE ADDRESS : 4 CARDINAL DRIVE
01 CITY : WESTWOOD
STATE/ZIP : MA 02090
MORTGAGE AMOUNT : 329,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 329,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,300.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 64.61100
----------------------------------------------------------------
0 0031677651 MORTGAGORS: LANGSTON ROBERT
LANGSTON SUE
REGION CODE ADDRESS : 5243 WOODFIELD DRIVE
01 CITY : CARMEL
STATE/ZIP : IN 46033
MORTGAGE AMOUNT : 644,474.00 OPTION TO CONVERT :
UNPAID BALANCE : 643,983.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,451.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 58.58800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,998,474.00
P & I AMT: 13,888.72
UPB AMT: 1,997,216.32
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 79
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031678857 MORTGAGORS: HERBER HARRY
HERBER MICHELLE
REGION CODE ADDRESS : 172 CENTURY LANE
01 CITY : ARROYO GRANDE
STATE/ZIP : CA 93420
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 71.42800
----------------------------------------------------------------
0 0031679467 MORTGAGORS: HARTZ JAMES
DICKSON-HARTZ ALEXANDRA
REGION CODE ADDRESS : 510 PRINCE STREET
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22314
MORTGAGE AMOUNT : 550,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 549,570.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,751.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 62.85700
----------------------------------------------------------------
0 0031680804 MORTGAGORS: DELANEY BRIAN
DELANEY KATHLEEN
REGION CODE ADDRESS : 8 APPLE LANE
01 CITY : TEWKSBURY
STATE/ZIP : NJ 08858
MORTGAGE AMOUNT : 428,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 427,666.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,919.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031684087 MORTGAGORS: SHAW THOMAS
SCHICK JEFFREY
REGION CODE ADDRESS : 3289 MOUNTAIN VIEW AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90066
MORTGAGE AMOUNT : 402,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 401,212.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,674.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 64.32000
----------------------------------------------------------------
0 0031684343 MORTGAGORS: CARDARELLI JULIO
CARDARELLI CINTIA
REGION CODE ADDRESS : 6567 EAST VIA ARBOLES
01 CITY : ANAHEIM
STATE/ZIP : CA 92807
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,410.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,911.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,950,000.00
P & I AMT: 13,354.88
UPB AMT: 1,947,859.92
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 80
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031690720 MORTGAGORS: ASHFORD JERRY
REGION CODE ADDRESS : 2624 SUTTER STREET
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94115
MORTGAGE AMOUNT : 393,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 393,015.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,783.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 76.36800
----------------------------------------------------------------
0 0031693674 MORTGAGORS: HYDE R.
HYDE ROBBIN
REGION CODE ADDRESS : 103 HIDDEN SPRINGS LANE
01 CITY : PEACHTREE CITY
STATE/ZIP : GA 30269
MORTGAGE AMOUNT : 376,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 376,483.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,475.31 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031694532 MORTGAGORS: MCGOVERN THOMAS
MCGOVERN GRACE
REGION CODE ADDRESS : 3256 VIA ZAMORA
01 CITY : ESCONDIDO
STATE/ZIP : CA 92029
MORTGAGE AMOUNT : 332,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,765.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,378.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 86.23300
----------------------------------------------------------------
0 0031696412 MORTGAGORS: MAIR DAVID
MAIR SHERRI
REGION CODE ADDRESS : 5135 KEITTS CORNER ROAD
01 CITY : MECHANICSVILLE
STATE/ZIP : VA 23111
MORTGAGE AMOUNT : 242,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,406.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,634.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 94.96500
----------------------------------------------------------------
0 0031696990 MORTGAGORS: GUERRERO CARLOS
GUERRERO LAURA
REGION CODE ADDRESS : 40137 TESORO LANE
01 CITY : PALMDALE
STATE/ZIP : CA 93551
MORTGAGE AMOUNT : 280,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,250.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,959.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,624,950.00
P & I AMT: 11,231.55
UPB AMT: 1,623,920.46
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 81
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031698939 MORTGAGORS: WEISSINGER ROBERT
WEISSINGER TRACY
REGION CODE ADDRESS : 2711 HIGHWAY 44
01 CITY : PANORA
STATE/ZIP : IA 50216
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,676.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031699705 MORTGAGORS: WEIMER C.
WEIMER JOANNE
REGION CODE ADDRESS : 5004 DERBY COURT
01 CITY : MURRELLS INLET
STATE/ZIP : SC 29576
MORTGAGE AMOUNT : 328,753.00 OPTION TO CONVERT :
UNPAID BALANCE : 328,225.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,214.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 85.39000
----------------------------------------------------------------
0 0031699879 MORTGAGORS: STUYT MICHAEL
STUYT JENNIFER
REGION CODE ADDRESS : 8036 12TH AVENUE NORTHWEST
01 CITY : SEATTLE
STATE/ZIP : WA 98117
MORTGAGE AMOUNT : 246,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,563.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,684.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 94.99900
----------------------------------------------------------------
0 0031701600 MORTGAGORS: BERDIS DAVID
BERDIS JUANITA
REGION CODE ADDRESS : 1183 PARKVIEW COURT
01 CITY : CAROL STREAM
STATE/ZIP : IL 60188
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,603.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,795.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031701840 MORTGAGORS: SILODOR SCOTT
DION MICHELLE
REGION CODE ADDRESS : 24 BODIE ROAD
01 CITY : WAYNE
STATE/ZIP : NJ 07470
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,719.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,455.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,447,703.00
P & I AMT: 9,827.66
UPB AMT: 1,446,111.46
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 82
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031702012 MORTGAGORS: FIELDS GREGORY
FIELDS MARION
REGION CODE ADDRESS : 4 WHEELWRIGHT ROAD
01 CITY : MEDFIELD
STATE/ZIP : MA 02052
MORTGAGE AMOUNT : 387,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 387,212.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,709.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 76.80800
----------------------------------------------------------------
0 0031702608 MORTGAGORS: MEREWITZ CARL
MEREWITZ KAREN
REGION CODE ADDRESS : 2662 LADY ANNE'S WAY
01 CITY : HUNTINGTON
STATE/ZIP : MD 20639
MORTGAGE AMOUNT : 272,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,232.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,835.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99800
----------------------------------------------------------------
0 0031702871 MORTGAGORS: DULIN JAMES
DULIN MICHELE
REGION CODE ADDRESS : 4927 CENTRAL AVE
01 CITY : OCEAN CITY
STATE/ZIP : NJ 08226
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,447.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,900.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 68.37600
----------------------------------------------------------------
0 0031703416 MORTGAGORS: HARRISON JOHN
LOULOUDES VIRGINIA
REGION CODE ADDRESS : 326 4TH STREET
01 CITY : BROOKLYN
STATE/ZIP : NY 11215
MORTGAGE AMOUNT : 460,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 459,658.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,216.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031703770 MORTGAGORS: SHUMAN J.
SHUMAN ERICA
REGION CODE ADDRESS : 26 WARDOUR DRIVE
01 CITY : ANNAPOLIS
STATE/ZIP : MD 21401
MORTGAGE AMOUNT : 299,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 298,793.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,066.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,819,200.00
P & I AMT: 12,728.53
UPB AMT: 1,817,343.96
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 83
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031704851 MORTGAGORS: AMMARELL SCOTT
AMMARELL MELISSA
REGION CODE ADDRESS : 6 N 969 WHISPERING TRAIL
01 CITY : ST CHARLES
STATE/ZIP : IL 60175
MORTGAGE AMOUNT : 352,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 352,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,401.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 64.58700
----------------------------------------------------------------
0 0031705395 MORTGAGORS: MC KENNA LAWRENCE
REGION CODE ADDRESS : REACH ROAD
01 CITY : DEER ISLE
STATE/ZIP : ME 04627
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,687.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,728.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 53.69100
----------------------------------------------------------------
0 0031705445 MORTGAGORS: HARSY DOUGLAS
HARSY JARIL
REGION CODE ADDRESS : 385 BRIARWOOD LANE
01 CITY : PALATINE
STATE/ZIP : IL 60067
MORTGAGE AMOUNT : 270,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,194.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,867.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031705734 MORTGAGORS: BREMERMANN H
EDWARDS TAMRA
REGION CODE ADDRESS : 6023 LAKE VIEW ROAD
01 CITY : BALTIMORE
STATE/ZIP : MD 21210
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,795.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,663.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 77.12400
----------------------------------------------------------------
0 0031706070 MORTGAGORS: LUKE JUDITH
REGION CODE ADDRESS : 197 ST. BOTOLPH STREET UNIT #6
01 CITY : BOSTON
STATE/ZIP : MA 02116
MORTGAGE AMOUNT : 279,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,987.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,928.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,551,600.00
P & I AMT: 10,589.19
UPB AMT: 1,550,664.82
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 84
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031706740 MORTGAGORS: KLEIN LEO
KLEIN ELOISE
REGION CODE ADDRESS : 2584 SARATOGA DRIVE
01 CITY : FULLERTON
STATE/ZIP : CA 92835
MORTGAGE AMOUNT : 498,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 498,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,524.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.68000
----------------------------------------------------------------
0 0031707581 MORTGAGORS: OLSON BRUCE
OLSON BEVERLY
REGION CODE ADDRESS : LOT 3, BLOCK D15 REDBAY RD
01 CITY : ELGIN
STATE/ZIP : SC 29045
MORTGAGE AMOUNT : 594,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 593,548.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,102.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.94600
----------------------------------------------------------------
0 0031709199 MORTGAGORS: ALTON STUART
ALTON THERESA
REGION CODE ADDRESS : 23651 NORTH 112TH PLACE
01 CITY : SCOTTSDALE
STATE/ZIP : AZ 85255
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,728.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,290.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 60.93100
----------------------------------------------------------------
0 0031709686 MORTGAGORS: BOLOGNESE ANTHONY
BOLOGNESE ELYSE
REGION CODE ADDRESS : 26 SPRUCE DR,
01 CITY : HOLLAND
STATE/ZIP : PA 18966
MORTGAGE AMOUNT : 385,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 385,213.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,695.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 89.99900
----------------------------------------------------------------
0 0031710304 MORTGAGORS: STATHAM GARY
STATHAM EMILY
REGION CODE ADDRESS : 56 THE AVENUE
01 CITY : GREENWICH
STATE/ZIP : CT 06831
MORTGAGE AMOUNT : 267,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,824.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 44.58300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,085,000.00
P & I AMT: 14,438.39
UPB AMT: 2,083,990.03
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 85
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031710635 MORTGAGORS: KEESE JAMES
KAYLOR JANE
REGION CODE ADDRESS : 5321 E. GREENMEADOW ROAD
01 CITY : LONG BEACH
STATE/ZIP : CA 90808
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,664.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.84600
----------------------------------------------------------------
0 0031710858 MORTGAGORS: COHEN ARI
COHEN LISA
REGION CODE ADDRESS : 5 THOMPSON DRIVE
01 CITY : EAST ROCKAWAY
STATE/ZIP : NY 11518
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,781.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,708.01 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 78.78700
----------------------------------------------------------------
0 0031710973 MORTGAGORS: BLOOMER JOHN
BLOOMER NANCY
REGION CODE ADDRESS : 1304 KELLY COURT
01 CITY : HERNDON
STATE/ZIP : VA 20170
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,781.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,910.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 78.21200
----------------------------------------------------------------
0 0031711112 MORTGAGORS: BASCOM KAREN
BASCOM ROBERT
REGION CODE ADDRESS : 534 BALMORAL CIRCLE
01 CITY : STATE COLLEGE
STATE/ZIP : PA 16801
MORTGAGE AMOUNT : 259,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,002.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,790.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031712466 MORTGAGORS: GLEASON MARK
GLEASON LOU ANN
REGION CODE ADDRESS : 417 OVERHILL ROAD
01 CITY : SOUTH ORANGE
STATE/ZIP : NJ 07079
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,610.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,761.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.46100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,298,200.00
P & I AMT: 8,834.08
UPB AMT: 1,297,176.64
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 86
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031712920 MORTGAGORS: MCMAHON GALE
REGION CODE ADDRESS : 15340 ALBRIGHT STREET #109
01 CITY : PACIFIC PALISADES
STATE/ZIP : CA 90272
MORTGAGE AMOUNT : 267,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,871.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,800.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031713472 MORTGAGORS: OYSTER DAVID
OYSTER DEBORAH
REGION CODE ADDRESS : 3040 PIGNATELLI CRESCENT
01 CITY : MOUNT PLEASANT
STATE/ZIP : SC 29464
MORTGAGE AMOUNT : 344,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 343,724.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,317.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031713795 MORTGAGORS: GREENSTEIN BARRY
GREENSTEIN JULIE
REGION CODE ADDRESS : 61 JOYCE LANE
01 CITY : WOODBURY
STATE/ZIP : NY 11797
MORTGAGE AMOUNT : 353,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 352,724.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,408.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.68300
----------------------------------------------------------------
0 0031713845 MORTGAGORS: WHITWELL DAVID
GIOMETTI RENEE
REGION CODE ADDRESS : 5 MOHEGAN LANE
01 CITY : RYE BROOK
STATE/ZIP : NY 10573
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,728.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,290.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031714298 MORTGAGORS: BANERJEE PRADEEP
BANERJEE MADHUSREE
REGION CODE ADDRESS : 2689 HIGH RIDGE ROAD
01 CITY : STAMFORD
STATE/ZIP : CT 06903
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,798.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,901.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,576,300.00
P & I AMT: 10,719.03
UPB AMT: 1,574,847.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 87
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031714801 MORTGAGORS: TAYLOR CHARLES
TAYLOR JILL
REGION CODE ADDRESS : 667 STILL BRANCH DRIVE
01 CITY : CANTON
STATE/ZIP : GA 30115
MORTGAGE AMOUNT : 247,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,561.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,691.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 93.56600
----------------------------------------------------------------
0 0031715048 MORTGAGORS: CASTELLI PAOLO
CASTELLI CARLA
REGION CODE ADDRESS : 36 WINTER STREET
01 CITY : NATICK
STATE/ZIP : MA 01760
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,783.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,968.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 68.67400
----------------------------------------------------------------
0 0031715089 MORTGAGORS: FARNSWORTH DAVID
MULLINS MARY
REGION CODE ADDRESS : 661 MILTON ROAD
01 CITY : RYE
STATE/ZIP : NY 10580
MORTGAGE AMOUNT : 395,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 395,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,627.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 65.83300
----------------------------------------------------------------
0 0031715188 MORTGAGORS: HOLLETT MARY
BLIZZARD REBECCA
REGION CODE ADDRESS : 4510 PENWOOD DRIVE
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22310
MORTGAGE AMOUNT : 305,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 304,578.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,211.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 92.42400
----------------------------------------------------------------
0 0031715436 MORTGAGORS: TAYLOR FERRIS
TAYLOR KAREN
REGION CODE ADDRESS : 180 HEMLOCK HILL ROAD
01 CITY : CARLISLE
STATE/ZIP : MA 01741
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,046.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 39.73500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,532,950.00
P & I AMT: 10,545.82
UPB AMT: 1,531,923.93
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 88
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031715477 MORTGAGORS: FRICKE RONALD
FRICKE KATHLEEN
REGION CODE ADDRESS : 11709 LOCKPORT TERRACE
01 CITY : RICHMOND
STATE/ZIP : VA 23233
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,785.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,805.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031717226 MORTGAGORS: LITTNER ROXANNE
RUBINFIELD ROY
REGION CODE ADDRESS : 6401 FALLEN OAK COURT
01 CITY : BETHESDA
STATE/ZIP : MD 20817
MORTGAGE AMOUNT : 517,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 516,596.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,526.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.38800
----------------------------------------------------------------
0 0031717275 MORTGAGORS: GREENE WILLIAM
SCHOR ROBIN
REGION CODE ADDRESS : 1229 KEISEL LANE
01 CITY : AMBLER
STATE/ZIP : PA 19002
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,961.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.02100
----------------------------------------------------------------
0 0031717317 MORTGAGORS: SMILEY RONALD
SMILEY TERRI
REGION CODE ADDRESS : 13 WYLLY ISLAND DRIVE
01 CITY : SAVANNAH
STATE/ZIP : GA 31406
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,197.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,368.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.62686
----------------------------------------------------------------
0 0031717481 MORTGAGORS: BUTCHER PHILLIP
BUTCHER NAHLDENE
REGION CODE ADDRESS : 45668 CAMINO RUBI
01 CITY : TEMECULA
STATE/ZIP : CA 92592
MORTGAGE AMOUNT : 277,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 276,403.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,867.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 89.99000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,846,150.00
P & I AMT: 12,529.75
UPB AMT: 1,843,983.94
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 89
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031717531 MORTGAGORS: MICHAELS PETER
HACKNEY AMANDA
REGION CODE ADDRESS : 5056 MATILIJA AVENUE
01 CITY : SHERMAN OAKS
STATE/ZIP : CA 91423
MORTGAGE AMOUNT : 246,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,821.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,741.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 72.67300
----------------------------------------------------------------
0 0031717564 MORTGAGORS: STACY TIMOTHY
STACY CHRISTINA
REGION CODE ADDRESS : 208 EAST 57TH STREET
01 CITY : WESTMONT
STATE/ZIP : IL 60559
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,968.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 67.53500
----------------------------------------------------------------
0 0031717747 MORTGAGORS: JONES ROBERT
JONES JULIE
REGION CODE ADDRESS : 80 WEDGEFIELD DR
01 CITY : HILTON HEAD ISLAND
STATE/ZIP : SC 29926
MORTGAGE AMOUNT : 424,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 423,677.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,928.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031718570 MORTGAGORS: HORENKAMP JOHN
HORENKAMP CAROLINE
REGION CODE ADDRESS : 1805 BELFAST ROAD
01 CITY : SPARKS
STATE/ZIP : MD 21152
MORTGAGE AMOUNT : 317,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 317,164.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,219.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.35000
----------------------------------------------------------------
0 0031720642 MORTGAGORS: WISHNER ROBERT
WISHNER CATHERINE
REGION CODE ADDRESS : 21631 EAST DEEP CREEK ROAD
01 CITY : WALNUT
STATE/ZIP : CA 91789
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,790.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,899.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.02200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,547,400.00
P & I AMT: 10,756.73
UPB AMT: 1,546,454.52
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 90
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031720766 MORTGAGORS: MOIR SUSAN
REGION CODE ADDRESS : 3050 SHADOW HILL CIRCLE
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91360
MORTGAGE AMOUNT : 385,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 384,971.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,726.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 77.82828
----------------------------------------------------------------
0 0031721657 MORTGAGORS: HILL MARION
REGION CODE ADDRESS : 3564 PARADISE DRIVE
01 CITY : TIBURON
STATE/ZIP : CA 94920
MORTGAGE AMOUNT : 1,330,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 1,329,037.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 9,413.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 015
LTV : 70.00000
----------------------------------------------------------------
0 0031721806 MORTGAGORS: EIDELMAN MICHAEL
EIDELMAN JULIA
REGION CODE ADDRESS : 835 VERNON AVENUE
01 CITY : GLENCOE
STATE/ZIP : IL 60022
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,387.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 54.68700
----------------------------------------------------------------
0 0031721897 MORTGAGORS: PULIS SCOTT
PULIS LISA
REGION CODE ADDRESS : 4777 VIA ALAMEDA
01 CITY : YORBA LINDA
STATE/ZIP : CA 92886
MORTGAGE AMOUNT : 244,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,959.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,665.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031722689 MORTGAGORS: THREADGILL JAIME
THREADGILL JAMES
REGION CODE ADDRESS : 7501 ASHTON COURT
01 CITY : WEST HILLS
STATE/ZIP : CA 91304
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 379,717.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,657.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.16600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,689,400.00
P & I AMT: 18,850.62
UPB AMT: 2,687,686.05
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 91
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031723208 MORTGAGORS: TROY CHRISTOPHER
TROY TATIA
REGION CODE ADDRESS : 48 HUNTER ROAD
01 CITY : PLYMOUTH MEETING
STATE/ZIP : PA 19462
MORTGAGE AMOUNT : 311,125.00 OPTION TO CONVERT :
UNPAID BALANCE : 310,882.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,122.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031723356 MORTGAGORS: JENKINS JOHN
JENKINS BRIDGET
REGION CODE ADDRESS : 5 GOSS RD.
01 CITY : NORTH HAMPTON
STATE/ZIP : NH 03766
MORTGAGE AMOUNT : 299,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 298,772.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,065.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 72.39700
----------------------------------------------------------------
0 0031724651 MORTGAGORS: ROUTHE ROCCO
ROUTHE MARJORIE
REGION CODE ADDRESS : 6N511 ROUTE 31
01 CITY : ST CHARLES
STATE/ZIP : IL 60175
MORTGAGE AMOUNT : 241,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,292.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,566.36 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 74.30700
----------------------------------------------------------------
0 0031724677 MORTGAGORS: SCHULTZ SUZAN
MORIARTY KEVIN
REGION CODE ADDRESS : 122 GLEN ROCK ROAD
01 CITY : LITTLE FALLS
STATE/ZIP : NJ 07424
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,785.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,875.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 63.41607
----------------------------------------------------------------
0 0031724693 MORTGAGORS: WILLIAMS BART
BELL NADINE
REGION CODE ADDRESS : 5421 BEDFORD AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90056
MORTGAGE AMOUNT : 420,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 419,655.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,794.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,546,625.00
P & I AMT: 10,424.17
UPB AMT: 1,545,388.05
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 92
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031725039 MORTGAGORS: CLIFT DANIEL
CLIFT SHARRON
REGION CODE ADDRESS : 31 CHAPIN LN
01 CITY : FAR HILLS
STATE/ZIP : NJ 07931
MORTGAGE AMOUNT : 482,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 482,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,247.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 45.90400
----------------------------------------------------------------
0 0031725344 MORTGAGORS: DUKLER YEVGENIY
DUKLER MARINA
REGION CODE ADDRESS : 8 WILLARD COURT
01 CITY : MARLBORO TWP
STATE/ZIP : NJ 07746
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,787.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,855.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031725450 MORTGAGORS: FORE DOUGLAS
REGION CODE ADDRESS : 12 MANOR ROAD
01 CITY : GREENWICH
STATE/ZIP : CT 06870
MORTGAGE AMOUNT : 424,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 423,368.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,964.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031725724 MORTGAGORS: CRAFT JEANNE
MILLER CHRISTOPHER
REGION CODE ADDRESS : 17 MELBOURNE WAY
01 CITY : BERNARDS TWP.
STATE/ZIP : NJ 07920
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,768.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,099.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 76.00000
----------------------------------------------------------------
0 0031726557 MORTGAGORS: VIOLA MARY
TORRES JUAN
REGION CODE ADDRESS : 1980 LOCKWOOD DRIVE
01 CITY : GREEN OAKS
STATE/ZIP : IL 60048
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,712.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,730,000.00
P & I AMT: 11,880.05
UPB AMT: 1,728,925.18
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 93
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031727175 MORTGAGORS: HERBERT PAUL
HERBERT MARSHA
REGION CODE ADDRESS : 3330 CONDOR RIDGE ROAD
01 CITY : YORBA LINDA
STATE/ZIP : CA 92886
MORTGAGE AMOUNT : 395,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 395,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,694.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 71.81800
----------------------------------------------------------------
0 0031727647 MORTGAGORS: HILFORD JAMES
HILFORD ALINE
REGION CODE ADDRESS : 5 GOODSELL HILL ROAD
01 CITY : REDDING
STATE/ZIP : CT 06896
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,579.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,284.64 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.36500
----------------------------------------------------------------
0 0031728041 MORTGAGORS: GIRTLEY ONDRELL
GIRTLEY PEGGY
REGION CODE ADDRESS : 12595 VISTA VERDE ROAD
01 CITY : RANCHO CUCAMONGA
STATE/ZIP : CA 91739
MORTGAGE AMOUNT : 290,228.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,228.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,955.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 94.99900
----------------------------------------------------------------
0 0031728249 MORTGAGORS: KAYNE MARK
REGION CODE ADDRESS : EAST SIDE OF TRAIL VIEW
01 CITY : CARMEL
STATE/ZIP : CA 93921
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,358.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,694.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 57.97100
----------------------------------------------------------------
0 0031728348 MORTGAGORS: BUECHE MARIE
BUECHE BLAINE
REGION CODE ADDRESS : 25767 SILVER CANYON COURT
01 CITY : CASTRO VALLEY
STATE/ZIP : CA 94552
MORTGAGE AMOUNT : 316,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 316,596.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,134.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.98700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,902,078.00
P & I AMT: 12,764.13
UPB AMT: 1,900,762.90
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 94
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031728355 MORTGAGORS: LYNESS LINDA
REGION CODE ADDRESS : 15 SPRINGBROOK DRIVE
01 CITY : HAMPSTEAD
STATE/ZIP : NH 03841
MORTGAGE AMOUNT : 274,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,918.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031728363 MORTGAGORS: TONER JOHN
BUSHNELL REBECCA
REGION CODE ADDRESS : 207 CATHCART ROAD
01 CITY : GWYNEDD VALLEY
STATE/ZIP : PA 19437
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,621.50 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 33.11200
----------------------------------------------------------------
0 0031728652 MORTGAGORS: ROBERTS NICOLAS
ROBERTS SYLVIA
REGION CODE ADDRESS : 1 SOUTH ALTA MIRA ROAD
01 CITY : LAGUNA BEACH
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 484,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 484,112.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,264.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 64.60000
----------------------------------------------------------------
0 0031728785 MORTGAGORS: IANNONE MARVIN
IANNONE PATRICIA
REGION CODE ADDRESS : 1721 CEDAR STREET
01 CITY : SAN CARLOS
STATE/ZIP : CA 94070
MORTGAGE AMOUNT : 343,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 342,932.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,341.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031730773 MORTGAGORS: REIMERS JOHN
REIMERS DEBRA
REGION CODE ADDRESS : 15865 RIPARIAN ROAD
01 CITY : POWAY
STATE/ZIP : CA 92064
MORTGAGE AMOUNT : 476,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 475,628.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,247.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.86500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,828,100.00
P & I AMT: 12,392.71
UPB AMT: 1,827,073.49
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 95
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031730922 MORTGAGORS: MCROBERTS CINDY
WALKER EDWARD
REGION CODE ADDRESS : 7552 12TH AVENUE NORTHWEST
01 CITY : SEATTLE
STATE/ZIP : WA 98117
MORTGAGE AMOUNT : 261,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,041.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,760.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031731003 MORTGAGORS: MEAD SUSAN
MEAD MICHAEL
REGION CODE ADDRESS : 38(LOT C-4A) BOWDITCH ROAD
01 CITY : SUDBURY
STATE/ZIP : MA 01776
MORTGAGE AMOUNT : 533,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 533,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,549.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 74.99680
----------------------------------------------------------------
0 0031731110 MORTGAGORS: UKMAN JON
REGION CODE ADDRESS : 509 NORTH OAK PARK AVENUE
01 CITY : OAK PARK
STATE/ZIP : IL 60302
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 650,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,379.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 77.38000
----------------------------------------------------------------
0 0031731516 MORTGAGORS: LENART JOHN
DAVIES-LENART DRUSILLA
REGION CODE ADDRESS : 11205 PAVILLON CLUB COURT
01 CITY : RESTON
STATE/ZIP : VA 20194
MORTGAGE AMOUNT : 302,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 302,169.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,088.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031731573 MORTGAGORS: FRAYER JAMES
FRAYER SUSAN
REGION CODE ADDRESS : 74 WILSON AVENUE
01 CITY : ROWAYTON
STATE/ZIP : CT 06853
MORTGAGE AMOUNT : 250,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,900.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,684.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 55.57700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,997,250.00
P & I AMT: 13,462.22
UPB AMT: 1,996,610.98
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 96
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031731607 MORTGAGORS: FARINA GLORIA
FAIRCHOK G P
REGION CODE ADDRESS : 3300 WINDSOR BLVD
01 CITY : VERO BEACH
STATE/ZIP : FL 32963
MORTGAGE AMOUNT : 800,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 799,375.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 5,457.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 015
LTV : 53.33300
----------------------------------------------------------------
0 0031731680 MORTGAGORS: GRUEN ROGER
GRUEN DEBRA
REGION CODE ADDRESS : 16862 CALLE DE SARAH
01 CITY : LOS ANGELES
STATE/ZIP : CA 90272
MORTGAGE AMOUNT : 760,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 760,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 5,249.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 015
LTV : 58.46100
----------------------------------------------------------------
0 0031732225 MORTGAGORS: CHAN SIU-CHEUNG
CHAN JEANNE
REGION CODE ADDRESS : 209-15 53RD AVENUE
01 CITY : BAYSIDE
STATE/ZIP : NY 11364
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,793.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,878.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031732571 MORTGAGORS: RANKIN WILLIAM
REGION CODE ADDRESS : 2315 W VIEWMONT WAY W
01 CITY : SEATTLE
STATE/ZIP : WA 98199
MORTGAGE AMOUNT : 444,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 443,644.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,991.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 55.50000
----------------------------------------------------------------
0 0031732662 MORTGAGORS: PIACITELLI ROBERT
PIACITELLI KATHLEEN
REGION CODE ADDRESS : 175 PLUM BEACH ROAD
01 CITY : NORTH KINGSTOWN
STATE/ZIP : RI 02874
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,911.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.41100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,546,000.00
P & I AMT: 17,487.54
UPB AMT: 2,544,813.89
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 97
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031733058 MORTGAGORS: STEELE MARK
STEELE THERESA
REGION CODE ADDRESS : 3 ARIELLE WAY
01 CITY : SPARTA
STATE/ZIP : NJ 07871
MORTGAGE AMOUNT : 265,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,807.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.25900
----------------------------------------------------------------
0 0031733264 MORTGAGORS: HINOJOSA JAIME
HINOJOSA SOPHIA
REGION CODE ADDRESS : 1661 JACOB AVENUE
01 CITY : SAN JOSE
STATE/ZIP : CA 95124
MORTGAGE AMOUNT : 254,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,825.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,841.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 74.70500
----------------------------------------------------------------
0 0031733967 MORTGAGORS: CEVASCO MATTHEW
CEVASCO KRISTINE
REGION CODE ADDRESS : 212 JOHNSON ROAD
01 CITY : READINGTON TOWNSHIP
STATE/ZIP : NJ 08889
MORTGAGE AMOUNT : 312,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 312,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,160.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031734205 MORTGAGORS: SCHOUTEN EVAN
SCHOUTEN RONALD
REGION CODE ADDRESS : 25 FAIRFAX ST
01 CITY : WEST NEWTON
STATE/ZIP : MA 02165
MORTGAGE AMOUNT : 376,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 375,526.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,627.59 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/23
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 72.16800
----------------------------------------------------------------
0 0031734270 MORTGAGORS: SADIQ HASAN
SADIQ ASMA
REGION CODE ADDRESS : 44 NORTHROP LANE
01 CITY : TENAFLY
STATE/ZIP : NJ 07670
MORTGAGE AMOUNT : 391,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 390,902.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,704.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,599,300.00
P & I AMT: 11,141.48
UPB AMT: 1,598,054.13
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 98
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031734775 MORTGAGORS: ROSENBERG MICHAEL
ROSENBERG LORI
REGION CODE ADDRESS : 9 SHERIDAN DRIVE
01 CITY : MILLBURN
STATE/ZIP : NJ 07078
MORTGAGE AMOUNT : 432,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 432,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,983.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031734866 MORTGAGORS: DALL HANS
BARLOW-DALL CAROLYN
REGION CODE ADDRESS : 956 DUNLIN COURT
01 CITY : WESTLAKE VILLAGE AREA
STATE/ZIP : CA 91361
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,551.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,049.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/18
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 77.06400
----------------------------------------------------------------
0 0031734973 MORTGAGORS: HOSANG DAVID
HOSANG ELIZABETH
REGION CODE ADDRESS : 33 CIDER MILL ROAD
01 CITY : BEDFORD
STATE/ZIP : NH 03110
MORTGAGE AMOUNT : 243,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,790.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,576.09 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 79.93400
----------------------------------------------------------------
0 0031735012 MORTGAGORS: MEKHTEYS LEO
MEKHTEYS MASHA
REGION CODE ADDRESS : 12 VIEWCREST CIRCLE
01 CITY : SOUTH SAN FRANCISCO
STATE/ZIP : CA 94080
MORTGAGE AMOUNT : 266,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,076.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,749.41 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0031735178 MORTGAGORS: GEARY SEAN
GEARY CHARLENE
REGION CODE ADDRESS : 8 WORCESTER ROAD
01 CITY : NORWOOD
STATE/ZIP : MA 02062
MORTGAGE AMOUNT : 241,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,664.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.92500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,434,300.00
P & I AMT: 10,023.15
UPB AMT: 1,433,418.91
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 99
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031736317 MORTGAGORS: HERMAN CONNIE
REGION CODE ADDRESS : 10 SHAWNEE COURT
01 CITY : MEDFORD
STATE/ZIP : NJ 08055
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,805.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,761.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 66.40600
----------------------------------------------------------------
0 0031736598 MORTGAGORS: JERNIGAN WILLIAM
REGION CODE ADDRESS : 5121 TIMBERVIEW TERRACE
01 CITY : ORLANDO
STATE/ZIP : FL 32819
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,488.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,848.51 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031737265 MORTGAGORS: MARTI ALEX
MARTI JULIE
REGION CODE ADDRESS : 7001 VENTURA CT
01 CITY : PARKLAND
STATE/ZIP : FL 33067
MORTGAGE AMOUNT : 289,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,224.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,974.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.21700
----------------------------------------------------------------
0 0031737372 MORTGAGORS: MCQUEEN CHRISTOPHER
MCQUEEN SUSAN
REGION CODE ADDRESS : 15113 80TH AVENUE NORTHEAST
01 CITY : BOTHELL
STATE/ZIP : WA 98011
MORTGAGE AMOUNT : 287,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,776.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,957.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.95500
----------------------------------------------------------------
0 0031737505 MORTGAGORS: SZILAGYI JERRY
SZILAGYI ISOBEL
REGION CODE ADDRESS : 5 ABBINGTON DRIVE
01 CITY : LLOYD HARBOR
STATE/ZIP : NY 11743
MORTGAGE AMOUNT : 600,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 600,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,093.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 73.21500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,716,450.00
P & I AMT: 11,635.21
UPB AMT: 1,715,294.60
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 100
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031738941 MORTGAGORS: HEYDE ARTHUR
HEYDE JANET
REGION CODE ADDRESS : 34-36 PLEASANT STREET
01 CITY : NATICK
STATE/ZIP : MA 01760
MORTGAGE AMOUNT : 262,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,724.44 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031739048 MORTGAGORS: REYNOLDS WILLIAM
SORENSEN INGRID
REGION CODE ADDRESS : 32 EMERSON ROAD
01 CITY : NEEDHAM
STATE/ZIP : MA 02192
MORTGAGE AMOUNT : 262,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,790.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031739089 MORTGAGORS: TENNY JEFFREY
TENNY DEBORAH
REGION CODE ADDRESS : 96 DRAPER ROAD
01 CITY : WAYLAND
STATE/ZIP : MA 01778
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,002.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 61.05200
----------------------------------------------------------------
0 0031739105 MORTGAGORS: ROSE DAVID
ROSE MARY
REGION CODE ADDRESS : 254 BROAD MEADOW ROAD
01 CITY : NEEDHAM
STATE/ZIP : MA 02194
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,802.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,795.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 61.17600
----------------------------------------------------------------
0 0031739113 MORTGAGORS: MCQUAID RICHARD
MCQUAID JANICE
REGION CODE ADDRESS : 26 LINCOLN ROAD
01 CITY : LINCOLN
STATE/ZIP : MA 01773
MORTGAGE AMOUNT : 407,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 407,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,811.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.02900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,481,900.00
P & I AMT: 10,124.25
UPB AMT: 1,481,702.16
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 101
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031739147 MORTGAGORS: WEIL JEFFREY
WEIL LISA
REGION CODE ADDRESS : 33 VIRGINIA RIDGE ROAD
01 CITY : SUDBURY
STATE/ZIP : MA 01776
MORTGAGE AMOUNT : 365,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 365,900.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,527.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.18300
----------------------------------------------------------------
0 0031739527 MORTGAGORS: WHITTINGHILL JAMES
DORN NANCY
REGION CODE ADDRESS : 4800 OLD DOMINION DRIVE
01 CITY : ARLINGTON
STATE/ZIP : VA 22207
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 649,505.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,489.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 74.28500
----------------------------------------------------------------
0 0031739592 MORTGAGORS: STOHR GREGORY
TUMLINSON ANNE
REGION CODE ADDRESS : 3505 ALBEMARLE STREET N.W.
01 CITY : WASHINGTON
STATE/ZIP : DC 20008
MORTGAGE AMOUNT : 256,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,604.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,773.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031740871 MORTGAGORS: PEREZ ADOLFO
DIETZ CHARLOTTE
REGION CODE ADDRESS : 33 HAMLIN ROAD
01 CITY : NEWTON
STATE/ZIP : MA 02159
MORTGAGE AMOUNT : 392,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 391,662.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,542.50 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031740970 MORTGAGORS: DOW RYAN
RODRIGUEZ SHELLEY
REGION CODE ADDRESS : 2515 SEGOVIA
01 CITY : LA VERNE
STATE/ZIP : CA 91750
MORTGAGE AMOUNT : 370,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 370,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,494.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,034,900.00
P & I AMT: 13,826.84
UPB AMT: 2,033,872.49
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 102
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031741945 MORTGAGORS: WALDEN L.
WALDEN PATRICIA
REGION CODE ADDRESS : 3047 N. SOUTHPORT
01 CITY : CHICAGO
STATE/ZIP : IL 60657
MORTGAGE AMOUNT : 507,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 507,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,460.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031742125 MORTGAGORS: LANGELLA ALBERT
LANGELLA NANCY
REGION CODE ADDRESS : 4 HOMEWOOD COURT
01 CITY : HARTSDALE
STATE/ZIP : NY 10530
MORTGAGE AMOUNT : 273,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,120.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,246.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 09/01/18
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 62.18100
----------------------------------------------------------------
0 0031743149 MORTGAGORS: MIXON MATTHEW
MIXON JOELY
REGION CODE ADDRESS : 315 FENWICK WOODS
01 CITY : CLARKESVILLE
STATE/ZIP : GA 30523
MORTGAGE AMOUNT : 418,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 418,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,784.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031743172 MORTGAGORS: PRICE ANTHONY
PRICE LIANA
REGION CODE ADDRESS : 8720 20TH AVENUE
01 CITY : BROOKLYN
STATE/ZIP : NY 11214
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,841.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031743974 MORTGAGORS: FARRELL CURTISS
FARRELL KIMBERLY
REGION CODE ADDRESS : 236 FIRETHORN TRAIL
01 CITY : DAKOTA DUNES
STATE/ZIP : SD 57049
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,328.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.54500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,819,300.00
P & I AMT: 12,660.86
UPB AMT: 1,818,820.88
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 103
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031746282 MORTGAGORS: FULLER-ROST KATHRYN
REGION CODE ADDRESS : 3583 CORTE CASTILLO,
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 494,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 494,700.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,459.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 68.26200
----------------------------------------------------------------
0 0031746472 MORTGAGORS: KHO JAMES
KHO FRANCISCA
REGION CODE ADDRESS : 5751 PARKCREST DRIVE
01 CITY : LA VERNE
STATE/ZIP : CA 91750
MORTGAGE AMOUNT : 270,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,776.34 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031746548 MORTGAGORS: SCHIFF SCOTT
SCHIFF TAMARA
REGION CODE ADDRESS : 5410 COLUMBUS AVENUE
01 CITY : SHERMAN OAKS AREA
STATE/ZIP : CA 91411
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,811.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,712.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031746589 MORTGAGORS: GUERRA MARINO
GUERRA CAROLYN
REGION CODE ADDRESS : 129 SAN MARINO DRIVE
01 CITY : SAN RAFAEL
STATE/ZIP : CA 94901
MORTGAGE AMOUNT : 286,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,259.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,882.10 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 34.10700
----------------------------------------------------------------
0 0031746837 MORTGAGORS: BROMFIELD SANDRA
REGION CODE ADDRESS : 81 WOODWARD STREET
01 CITY : NEWTON
STATE/ZIP : MA 02461
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,299.26 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 72.71900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,649,600.00
P & I AMT: 11,129.60
UPB AMT: 1,649,170.60
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 104
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031747728 MORTGAGORS: WHITEWAY CYNTHIA
WHITEWAY JAMES
REGION CODE ADDRESS : 23 DONNA ROAD
01 CITY : BILLERICA
STATE/ZIP : MA 01863
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,755.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 82.66600
----------------------------------------------------------------
0 0031747843 MORTGAGORS: MURPHY MICHAEL
REGION CODE ADDRESS : 7610 POTOMAC FALL ROAD
01 CITY : MCLEAN
STATE/ZIP : VA 22102
MORTGAGE AMOUNT : 621,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 619,861.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,955.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/18
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 68.84700
----------------------------------------------------------------
0 0031747926 MORTGAGORS: COLE SUSAN
COLE DOUGLAS
REGION CODE ADDRESS : 34 PINECLIFF DRIVE
01 CITY : MARBLEHEAD
STATE/ZIP : MA 01945
MORTGAGE AMOUNT : 355,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 354,694.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,302.52 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 70.01900
----------------------------------------------------------------
0 0031748049 MORTGAGORS: BOLSTER CHARLES
PETIT BARBARA
REGION CODE ADDRESS : 733 BROOKRIDGE DRIVE
01 CITY : ATLANTA
STATE/ZIP : GA 30306
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,765.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,046.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 60.00000
----------------------------------------------------------------
0 0031748072 MORTGAGORS: TRINKA SANDRA
REGION CODE ADDRESS : 6949 QUITO COURT
01 CITY : CAMARILLO
STATE/ZIP : CA 93012
MORTGAGE AMOUNT : 357,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 357,341.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,531.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,881,600.00
P & I AMT: 13,590.84
UPB AMT: 1,879,662.68
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 105
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031748106 MORTGAGORS: SIEGERT GARY
SIEGERT RONA
REGION CODE ADDRESS : 1689 EAST STONYBROOK COURT
01 CITY : EAGLE
STATE/ZIP : ID 83616
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 379,405.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,592.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031749443 MORTGAGORS: MERRITT RANDY
MERRITT JOYCE
REGION CODE ADDRESS : 1420 VIA CORONA,
01 CITY : LA VERNE,
STATE/ZIP : CA 91750
MORTGAGE AMOUNT : 251,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,563.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,760.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031750391 MORTGAGORS: MAGASSY CSABA
MAGASSY FRANCES
REGION CODE ADDRESS : 10201 BENTCROSS DRIVE
01 CITY : POTOMAC
STATE/ZIP : MD 20854
MORTGAGE AMOUNT : 691,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 691,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,772.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 015
LTV : 67.08700
----------------------------------------------------------------
0 0031750417 MORTGAGORS: CAPPAS PETER
CAPPAS ELIZABETH
REGION CODE ADDRESS : 10N760 NEW PORT COURT
01 CITY : ELGIN
STATE/ZIP : IL 60123
MORTGAGE AMOUNT : 465,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 465,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,255.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031751548 MORTGAGORS: BOTZ GREGORY
BOTZ MARY
REGION CODE ADDRESS : 23 CLEAR SPRINGS COURT
01 CITY : SUGARLAND
STATE/ZIP : TX 77479
MORTGAGE AMOUNT : 347,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 346,715.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,308.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.99000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,135,350.00
P & I AMT: 14,689.25
UPB AMT: 2,134,284.07
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 106
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031751571 MORTGAGORS: APPLE FIONA
ANDERSON PAUL
REGION CODE ADDRESS : 2459 PARK OAK DRIVE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90068
MORTGAGE AMOUNT : 1,443,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 1,443,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 10,218.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 015
LTV : 75.00000
----------------------------------------------------------------
0 0031751969 MORTGAGORS: FIDGE BINKLEY
REGION CODE ADDRESS : 916 AALAPAPA DRIVE
01 CITY : KAILUA
STATE/ZIP : HI 96734
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 340,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,290.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 73.91304
----------------------------------------------------------------
0 0031752298 MORTGAGORS: VANHAMERSVELD DANIEL
VANHAMERSVELD LORI
REGION CODE ADDRESS : 4461 ASHTON DRIVE
01 CITY : SACRAMENTO
STATE/ZIP : CA 95864
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 310,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,167.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 76.54300
----------------------------------------------------------------
0 0031752488 MORTGAGORS: ROSS CHRISTOPHER
ROSS LAURA
REGION CODE ADDRESS : 8001 AGNEW AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90045
MORTGAGE AMOUNT : 263,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,999.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,817.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031752686 MORTGAGORS: MOAZENI HAMID
MOAZENI GERTRUDE
REGION CODE ADDRESS : 34 VEASEY SHORES ROAD
01 CITY : MEREDITH
STATE/ZIP : NH 03253
MORTGAGE AMOUNT : 348,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 347,721.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,344.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,704,950.00
P & I AMT: 18,839.38
UPB AMT: 2,704,471.43
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 107
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031753080 MORTGAGORS: ROSALES THOMAS
ROSALES PATRICIA
REGION CODE ADDRESS : 2352 CADDIE COURT
01 CITY : OCEANSIDE
STATE/ZIP : CA 92056
MORTGAGE AMOUNT : 260,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,797.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031753320 MORTGAGORS: BENJAMIN BARRY
BENJAMIN SUSAN
REGION CODE ADDRESS : 59 BAY LANE
01 CITY : CENTERVILLE
STATE/ZIP : MA 02632
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 500,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,453.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 59.38200
----------------------------------------------------------------
0 0031753833 MORTGAGORS: FANADY GEORGE
FANADY HOLLY
REGION CODE ADDRESS : 5364 ASHLEIGH ROAD
01 CITY : FAIRFAX
STATE/ZIP : VA 22030
MORTGAGE AMOUNT : 282,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,156.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,831.64 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031754005 MORTGAGORS: DESAI SAJEET
DESAI SILPA
REGION CODE ADDRESS : 10773 INSPIRATION CIRCLE
01 CITY : DUBLIN
STATE/ZIP : CA 94568
MORTGAGE AMOUNT : 311,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,650.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,126.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 67.50700
----------------------------------------------------------------
0 0031754385 MORTGAGORS: LEWIS JAMES
FISHER WILLIAM
REGION CODE ADDRESS : 170 LAUREL FOREST CIRCLE
01 CITY : ATLANTA
STATE/ZIP : GA 30342
MORTGAGE AMOUNT : 267,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,986.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,800.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,621,550.00
P & I AMT: 11,009.03
UPB AMT: 1,621,093.18
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 108
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031755929 MORTGAGORS: RIDENOUR MATTHEW
RIDENOUR SIMONA
REGION CODE ADDRESS : 31912 AVENIDA DEL REY TRAIL
01 CITY : AGUA DULCE
STATE/ZIP : CA 91350
MORTGAGE AMOUNT : 324,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 323,759.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,265.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031755978 MORTGAGORS: BREAULT RICHARD
BREAULT MITSUKO
REGION CODE ADDRESS : 241 SOUTH DOVER CIRCLE
01 CITY : INVERNESS
STATE/ZIP : IL 60010
MORTGAGE AMOUNT : 344,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 344,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,346.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031756273 MORTGAGORS: FROJELIN ANDREW
ONG ANTONETTE
REGION CODE ADDRESS : 4874 ROUNDTREE DRIVE
01 CITY : CAMPBELL
STATE/ZIP : CA 95008
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,762.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031756299 MORTGAGORS: CLAPPER JOSEPH
CLAPPER MERRILYN
REGION CODE ADDRESS : 129 SILVER LAKE DRIVE
01 CITY : REHOBOTH BEACH
STATE/ZIP : DE 19971
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,367.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,819.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/18
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 76.08600
----------------------------------------------------------------
0 0031756315 MORTGAGORS: MARCELLINO GEORGE
REGION CODE ADDRESS : 3773 PAUL SWEET ROAD
01 CITY : SANTA CRUZ
STATE/ZIP : CA 95065
MORTGAGE AMOUNT : 384,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 383,735.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,784.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,722,000.00
P & I AMT: 12,453.49
UPB AMT: 1,720,625.70
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 109
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031756455 MORTGAGORS: TRINH JAMES
NGUYEN JENNY
REGION CODE ADDRESS : 8645 E SUNNYWALK LANE
01 CITY : ANAHEIM
STATE/ZIP : CA 92808
MORTGAGE AMOUNT : 265,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,817.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,921.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 89.83000
----------------------------------------------------------------
0 0031756620 MORTGAGORS: WOELFLE CHRISTOPHER
WOELFLE CATHERINE
REGION CODE ADDRESS : 33 ZELLERS ROAD
01 CITY : LONG VALLEY
STATE/ZIP : NJ 07853
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,739.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.56100
----------------------------------------------------------------
0 0031756893 MORTGAGORS: RADEMACHER GREGG
RADEMACHER CYNTHIA
REGION CODE ADDRESS : 2334 JANET LEE DRIVE
01 CITY : LA CRESCENTA AREA
STATE/ZIP : CA 91214
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,786.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,729.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 56.52100
----------------------------------------------------------------
0 0031756950 MORTGAGORS: ALSTON RONALD
ALSTON MAUREEN
REGION CODE ADDRESS : 17200 LONGLEAF DRIVE
01 CITY : BOWIE
STATE/ZIP : MD 20716
MORTGAGE AMOUNT : 277,424.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,202.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,869.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031757164 MORTGAGORS: CHEN PATRICIA
REGION CODE ADDRESS : 16772 CAMINO SIERRA DEL SUR
01 CITY : RANCHO SANTA FE
STATE/ZIP : CA 92067
MORTGAGE AMOUNT : 509,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 508,612.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,515.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 35.10300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,566,424.00
P & I AMT: 10,775.38
UPB AMT: 1,565,419.34
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 110
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031757248 MORTGAGORS: LENEHAN WALTER
LENEHAN EUNHWA
REGION CODE ADDRESS : 5420 CAMINITO EXQUISITO
01 CITY : SAN DIEGO
STATE/ZIP : CA 92130
MORTGAGE AMOUNT : 327,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,148.16 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 74.31800
----------------------------------------------------------------
0 0031757586 MORTGAGORS: WALLACE JOSEPH
WALLACE ANGELA
REGION CODE ADDRESS : 2 ARBUTUS COURT
01 CITY : GREENLAWN
STATE/ZIP : NY 11740
MORTGAGE AMOUNT : 329,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 329,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,272.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.15900
----------------------------------------------------------------
0 0031757768 MORTGAGORS: TUCKER RAYMOND
REGION CODE ADDRESS : 21301 EVALYN AVENUE
01 CITY : TORRANCE
STATE/ZIP : CA 90503
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,765.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,046.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031757792 MORTGAGORS: IRARDY RUSSELL
REGION CODE ADDRESS : 958 78TH STREET
01 CITY : BROOKLYN
STATE/ZIP : NY 11209
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,609.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,768.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 94.81400
----------------------------------------------------------------
0 0031758642 MORTGAGORS: O'DEEGAN STEPHEN
O'DEEGAN JANICE
REGION CODE ADDRESS : 750 PAVILION DRIVE
01 CITY : FAIRFIELD
STATE/ZIP : CA 94585
MORTGAGE AMOUNT : 265,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,392.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,811.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,477,600.00
P & I AMT: 10,047.02
UPB AMT: 1,476,767.98
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 111
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031759053 MORTGAGORS: PERCOX DUANE
REGION CODE ADDRESS : 86 NORTHCREST DRIVE
01 CITY : SOUTH SAN FRANCISCO,
STATE/ZIP : CA 94080
MORTGAGE AMOUNT : 262,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,787.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.85700
----------------------------------------------------------------
0 0031759061 MORTGAGORS: LEVESQUE TERRY
LEVESQUE TOMOKO
REGION CODE ADDRESS : 27659 LONGHILL DRIVE
01 CITY : RANCHO PALOS VERDES
STATE/ZIP : CA 90275
MORTGAGE AMOUNT : 367,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 367,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,503.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 69.24500
----------------------------------------------------------------
0 0031759079 MORTGAGORS: GONDER THOMAS
REGION CODE ADDRESS : 2018 GLASTONBURY ROAD
01 CITY : WESTLAKE VILLAGE AREA
STATE/ZIP : CA 91361
MORTGAGE AMOUNT : 416,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 415,650.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,732.83 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031759152 MORTGAGORS: GARROW JAMES
REGION CODE ADDRESS : 2175 INDIAN WELLS LANE
01 CITY : LA VERNE
STATE/ZIP : CA 91750
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,799.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,623.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031760028 MORTGAGORS: WOODWARD BRUCE
WOODWARD SUSAN
REGION CODE ADDRESS : 1301 WESTMONT COURT
01 CITY : SOUTHLAKE
STATE/ZIP : TX 76092
MORTGAGE AMOUNT : 309,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,190.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,032.87 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.99200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,598,450.00
P & I AMT: 10,679.94
UPB AMT: 1,597,640.51
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 112
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031760069 MORTGAGORS: WIESELER TODD
PEARLMAN ILANA
REGION CODE ADDRESS : 7003 VIA PADILLA
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,774.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,044.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031760986 MORTGAGORS: MILLIKIN STEPHEN
MILLIKIN LINDA
REGION CODE ADDRESS : 119 FOX TRAIL TERRACE
01 CITY : GAITHERSBURG
STATE/ZIP : MD 20878
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,752.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,088.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 73.02200
----------------------------------------------------------------
0 0031761224 MORTGAGORS: GLICK RONALD
GLICK JO ANN
REGION CODE ADDRESS : 152 HOLLY HILLS DRIVE
01 CITY : WILLIAMSBURG
STATE/ZIP : VA 23185
MORTGAGE AMOUNT : 398,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 398,496.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,754.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031761257 MORTGAGORS: HEFLIN MICHAEL
HEFLIN ELIZABETH
REGION CODE ADDRESS : 2409 CARTER'S GROVE LANE
01 CITY : GERMANTOWN
STATE/ZIP : TN 38138
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,680.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,694.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 45.71400
----------------------------------------------------------------
0 0031761497 MORTGAGORS: PARENT JAN
PARENT KRISTEN
REGION CODE ADDRESS : 15291 SADDLEBACK ROAD
01 CITY : SANTA CLARITA
STATE/ZIP : CA 91351
MORTGAGE AMOUNT : 427,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 426,874.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,950.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,832,000.00
P & I AMT: 12,532.79
UPB AMT: 1,830,578.47
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 113
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031761612 MORTGAGORS: GANNON HECTOR
GANNON KARMIN
REGION CODE ADDRESS : 3404 CAMINO LARGO
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 385,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 385,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,758.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 72.64100
----------------------------------------------------------------
0 0031761844 MORTGAGORS: KEHOE CHRISTOPHER
KEHOE ELAINE
REGION CODE ADDRESS : 73 HARDING AVENUE
01 CITY : ALLENDALE
STATE/ZIP : NJ 07401
MORTGAGE AMOUNT : 301,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 301,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,056.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031762305 MORTGAGORS: FERLA FRED
FERLA DARLA
REGION CODE ADDRESS : 533 CURIE DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95123
MORTGAGE AMOUNT : 316,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 316,211.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,187.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.97100
----------------------------------------------------------------
0 0031762834 MORTGAGORS: DUNSMORE ROBERT
DUNSMORE WHITNEY
REGION CODE ADDRESS : 552 CONVERSE BAY ROAD
01 CITY : CHARLOTTE
STATE/ZIP : VT 05445
MORTGAGE AMOUNT : 271,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,871.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.24300
----------------------------------------------------------------
0 0031763188 MORTGAGORS: WEISS GARRY
WEISS JANET
REGION CODE ADDRESS : 254 GREAT NECK ROAD
01 CITY : WATERFORD
STATE/ZIP : CT 06385
MORTGAGE AMOUNT : 455,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 455,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,103.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 61.32000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,729,200.00
P & I AMT: 11,977.95
UPB AMT: 1,728,711.13
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 114
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031763527 MORTGAGORS: MANDELL JEFFREY
MANDELL BARBARA
REGION CODE ADDRESS : 11021 OSO AVENUE
01 CITY : CHATSWORTH AREA
STATE/ZIP : CA 91311
MORTGAGE AMOUNT : 361,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 361,110.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,434.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 76.99100
----------------------------------------------------------------
0 0031763881 MORTGAGORS: DAVIS J.
DAVIS EMILY
REGION CODE ADDRESS : 655 BENT CREEK RIDGE
01 CITY : DEERFIELD
STATE/ZIP : IL 60015
MORTGAGE AMOUNT : 370,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 370,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,524.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.54902
----------------------------------------------------------------
0 0031763949 MORTGAGORS: GIBBS LAWRENCE
GIBBS LINDA
REGION CODE ADDRESS : 1395 CHERRY HILL WY
01 CITY : CHINO HILLS
STATE/ZIP : CA 91709
MORTGAGE AMOUNT : 253,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,227.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,747.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.06250
----------------------------------------------------------------
0 0031764178 MORTGAGORS: GROSEL MARK
GROSEL MARY
REGION CODE ADDRESS : 32450-54 WILDWOOD POINT ROAD
01 CITY : HARTLAND
STATE/ZIP : WI 53029
MORTGAGE AMOUNT : 303,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 302,957.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,042.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031764491 MORTGAGORS: HORA MANINDER
HORA JASBIR
REGION CODE ADDRESS : 202 VIEWPOINT DRIVE
01 CITY : DANVILLE
STATE/ZIP : CA 94506
MORTGAGE AMOUNT : 348,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 348,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,373.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 58.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,635,600.00
P & I AMT: 11,122.96
UPB AMT: 1,632,295.59
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 115
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031764640 MORTGAGORS: STARR KEVIN
STARR JENNIFER
REGION CODE ADDRESS : 623 PARLEYS ROAD
01 CITY : PARK CITY
STATE/ZIP : UT 84098
MORTGAGE AMOUNT : 286,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,930.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 71.62500
----------------------------------------------------------------
0 0031764715 MORTGAGORS: SMITH GERALD
SMITH RHEA
REGION CODE ADDRESS : 9592 VANCOUVER LANE
01 CITY : WINDSOR
STATE/ZIP : CA 95492
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,795.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.78700
----------------------------------------------------------------
0 0031765068 MORTGAGORS: WAKIL BRIAN
WAKIL SUSAN
REGION CODE ADDRESS : 2425 EARL STREET
01 CITY : LOS ANGELES
STATE/ZIP : CA 90039
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,664.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 50.30900
----------------------------------------------------------------
0 0031765175 MORTGAGORS: TEED JONATHAN
KILEY DIERDRE
REGION CODE ADDRESS : 518 LOCKWOOD ROAD
01 CITY : FAIRFIELD
STATE/ZIP : CT 06432
MORTGAGE AMOUNT : 311,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,019.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,176.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031765316 MORTGAGORS: GROH JOHN
SLATER DEBRA
REGION CODE ADDRESS : 14435 SOUTHEAST 60TH STREET
01 CITY : BELLEVUE
STATE/ZIP : WA 98006
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,785.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,875.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.36800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,376,750.00
P & I AMT: 9,442.76
UPB AMT: 1,376,304.48
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 116
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031765480 MORTGAGORS: COOLIDGE TREVOR
COOLIDGE ROBERTA
REGION CODE ADDRESS : 13153 MORNING GLORY DRIVE
01 CITY : LAKESIDE
STATE/ZIP : CA 92040
MORTGAGE AMOUNT : 268,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,040.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,829.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 94.99307
----------------------------------------------------------------
0 0031765530 MORTGAGORS: BURKE STEPHEN
BURKE LESLIE
REGION CODE ADDRESS : 20 DEXTER DRIVE
01 CITY : SHERBORN
STATE/ZIP : MA 01770
MORTGAGE AMOUNT : 625,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 625,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,316.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.52900
----------------------------------------------------------------
0 0031765977 MORTGAGORS: CARTEE CHRISTOPHER
CARTEE SHERYL
REGION CODE ADDRESS : 12901 LOCKSLEY COURT
01 CITY : HERNDON
STATE/ZIP : VA 20171
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,785.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,805.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.44400
----------------------------------------------------------------
0 0031766405 MORTGAGORS: HSIEH CARSON
HSIEH CHAU
REGION CODE ADDRESS : 31231 PASEO CRUCERO
01 CITY : SAN JUAN CAPISTRANO
STATE/ZIP : CA 92675
MORTGAGE AMOUNT : 390,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 390,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,564.65 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0031766413 MORTGAGORS: MESSINA VINCENT
MESSINA LAURA
REGION CODE ADDRESS : 8413 213TH PLACE NORTHEAST
01 CITY : REDMOND
STATE/ZIP : WA 98053
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 360,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,455.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.78900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,911,650.00
P & I AMT: 12,972.71
UPB AMT: 1,911,226.42
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 117
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031766421 MORTGAGORS: CACCIABAUDO JEAN
REGION CODE ADDRESS : 100 HILTON AVENUE UNIT 512
01 CITY : GARDEN CITY
STATE/ZIP : NY 11530
MORTGAGE AMOUNT : 292,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,266.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,970.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031766462 MORTGAGORS: IMPERIO MICHAEL
IMPERIO MICHELLE
REGION CODE ADDRESS : 1754 PRAED STREET
01 CITY : RIVERSIDE
STATE/ZIP : CA 92503
MORTGAGE AMOUNT : 237,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,773.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,663.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 94.99000
----------------------------------------------------------------
0 0031766470 MORTGAGORS: DE GRANDIS JEFFREY
DE GRANDIS JULIANN
REGION CODE ADDRESS : 25311 JOYCE PLACE
01 CITY : STEVENSON RANCH
STATE/ZIP : CA 91381
MORTGAGE AMOUNT : 317,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 317,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,139.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031766660 MORTGAGORS: LOIACANO GARY
HUNT KIMBERLY
REGION CODE ADDRESS : 18159 SANTA CECILIA CIRCLE
01 CITY : FOUNTAIN VALLEY
STATE/ZIP : CA 92708
MORTGAGE AMOUNT : 279,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,976.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,881.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031766819 MORTGAGORS: LINDOR MICHAEL
LINDOR DEBRA
REGION CODE ADDRESS : 17054 HUNTINGTON PATH
01 CITY : LAKEVILLE
STATE/ZIP : MN 55044
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,744.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,455,250.00
P & I AMT: 9,892.73
UPB AMT: 1,454,360.34
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 118
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031766967 MORTGAGORS: MCCLARY TERRY
MCCLARY JANET
REGION CODE ADDRESS : 21252 FERN CIRCLE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92646
MORTGAGE AMOUNT : 458,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 457,668.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,241.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 73.87000
----------------------------------------------------------------
0 0031767296 MORTGAGORS: BASSART CARLOS
BASSART LAUREL
REGION CODE ADDRESS : 20282 WIND CAVE LANE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92646
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,818.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,914.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 75.42800
----------------------------------------------------------------
0 0031767361 MORTGAGORS: HUNT DAVID
HUNT ROBERTA
REGION CODE ADDRESS : 10133 N.W. SKYLINE BLVD.
01 CITY : PORTLAND
STATE/ZIP : OR 97231
MORTGAGE AMOUNT : 300,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,159.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,023.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 57.21900
----------------------------------------------------------------
0 0031767734 MORTGAGORS: HENDERSON DENNIS
HENDERSON NANCE
REGION CODE ADDRESS : 8667 CRESGATE CIRCLE
01 CITY : ORLANDO
STATE/ZIP : FL 32819
MORTGAGE AMOUNT : 311,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,656.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,127.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99487
----------------------------------------------------------------
0 0031767817 MORTGAGORS: SERBIN TAD
REGION CODE ADDRESS : 225 LIVE OAK DRIVE
01 CITY : DANVILLE
STATE/ZIP : CA 94506
MORTGAGE AMOUNT : 326,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 325,232.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,223.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.61900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,660,300.00
P & I AMT: 11,531.35
UPB AMT: 1,658,535.72
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 119
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031767841 MORTGAGORS: JOHNSON ROBERT
JOHNSON DIANE
REGION CODE ADDRESS : 11246 PHOENIX WY
01 CITY : NAPLES
STATE/ZIP : FL 34119
MORTGAGE AMOUNT : 324,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 323,740.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,182.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031767890 MORTGAGORS: ZARETT DAVID
ZARETT ROCHELLE
REGION CODE ADDRESS : 46 ROUND TREE DRIVE
01 CITY : MELVILLE
STATE/ZIP : NY 11747
MORTGAGE AMOUNT : 384,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 383,715.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,684.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031767965 MORTGAGORS: LIU JAMES
REGION CODE ADDRESS : 58 FAIRLAKE #32
01 CITY : IRVINE
STATE/ZIP : CA 92614
MORTGAGE AMOUNT : 364,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 363,430.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,483.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031767973 MORTGAGORS: SCHWARTZ JEFFREY
REGION CODE ADDRESS : 188 ANCHORAGE STREET
01 CITY : WEST ISLIP
STATE/ZIP : NY 11795
MORTGAGE AMOUNT : 405,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 405,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,866.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031768138 MORTGAGORS: CRONIN THOMAS
CRONIN ARLENE
REGION CODE ADDRESS : 5301 MANTON AVENUE
01 CITY : WOODLAND HILLS AREA
STATE/ZIP : CA 91367
MORTGAGE AMOUNT : 303,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 302,951.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,017.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,780,200.00
P & I AMT: 12,234.73
UPB AMT: 1,778,837.75
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 120
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031768385 MORTGAGORS: HO WU-JING
HO JESSICA
REGION CODE ADDRESS : 22525 SALEM AVENUE
01 CITY : CUPERTINO
STATE/ZIP : CA 95014
MORTGAGE AMOUNT : 435,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 434,634.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,857.65 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 50.14400
----------------------------------------------------------------
0 0031768492 MORTGAGORS: KAN STANLEY
KAN SHERRI
REGION CODE ADDRESS : 18930 BRITTANY PLACE
01 CITY : ROWLAND HEIGHTS AREA
STATE/ZIP : CA 91748
MORTGAGE AMOUNT : 324,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 323,765.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,293.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.37500
----------------------------------------------------------------
0 0031769367 MORTGAGORS: HASAN SALMAN
REGION CODE ADDRESS : 4259 BOLINA DRIVE
01 CITY : UNION CITY
STATE/ZIP : CA 94587
MORTGAGE AMOUNT : 377,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 377,655.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,578.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.98800
----------------------------------------------------------------
0 0031770241 MORTGAGORS: SCHUMAKER SHELDON
SCHUMAKER FRANCES
REGION CODE ADDRESS : 22820 STONEBRIDGE STREET
01 CITY : CUPERTINO
STATE/ZIP : CA 95014
MORTGAGE AMOUNT : 405,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 405,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,866.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 71.17700
----------------------------------------------------------------
0 0031770340 MORTGAGORS: SHEPPERSON RONALD
REGION CODE ADDRESS : 242 SAINT JOSEPH AVENUE
01 CITY : LONG BEACH
STATE/ZIP : CA 90803
MORTGAGE AMOUNT : 388,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 388,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,614.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,929,950.00
P & I AMT: 13,209.79
UPB AMT: 1,929,055.19
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 121
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031770449 MORTGAGORS: GUTIERREZ RAYMOND
GUTIERREZ YVETTE
REGION CODE ADDRESS : 72 AYAMONTE COURT
01 CITY : SAN RAMON
STATE/ZIP : CA 94583
MORTGAGE AMOUNT : 254,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,811.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,776.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 71.95400
----------------------------------------------------------------
0 0031770530 MORTGAGORS: SANDERS STEVE
SANDERS MARGARET
REGION CODE ADDRESS : 2277 BERRYESSA LANE
01 CITY : SANTA MARIA
STATE/ZIP : CA 93455
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 320,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,210.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.29400
----------------------------------------------------------------
0 0031771249 MORTGAGORS: LINCOLN CHRISTOPHER
BRATTON BARBARA
REGION CODE ADDRESS : 142 WESTWOOD DRIVE
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94112
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 360,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,455.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031771330 MORTGAGORS: BARBER LELAND
BASILIKO SHIRLEY
REGION CODE ADDRESS : 6530 WEST 98TH DRIVE
01 CITY : WESTMINSTER
STATE/ZIP : CO 80021
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,795.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,922.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 89.98600
----------------------------------------------------------------
0 0031771454 MORTGAGORS: MISKO DAVID
MISKO SHERYL
REGION CODE ADDRESS : 5454 MOONSHADOW STREET
01 CITY : SIMI VALLEY
STATE/ZIP : CA 93063
MORTGAGE AMOUNT : 314,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,147.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,523,750.00
P & I AMT: 10,511.98
UPB AMT: 1,523,357.41
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 122
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031771504 MORTGAGORS: FEIG DANIEL
FEIG CYNTHIA
REGION CODE ADDRESS : 2615 NORTH CAMIMO PRINCIPAL
01 CITY : TUSCON
STATE/ZIP : AZ 85715
MORTGAGE AMOUNT : 385,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 385,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,597.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 77.10000
----------------------------------------------------------------
0 0031771777 MORTGAGORS: FEIGIN SAMUEL
FEIGIN LISA
REGION CODE ADDRESS : 40 MYRTLE STREET
01 CITY : NEWTON
STATE/ZIP : MA 02465
MORTGAGE AMOUNT : 360,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 360,175.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,489.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031771827 MORTGAGORS: REED MALCOLM
REED NANCY
REGION CODE ADDRESS : 7536 PRIMROSE DRIVE
01 CITY : IRVING
STATE/ZIP : TX 75063
MORTGAGE AMOUNT : 265,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,848.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,830.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031771926 MORTGAGORS: TSENG WILLIAM
TSENG CAMELLIA
REGION CODE ADDRESS : 19 LILIANO
01 CITY : IRVINE
STATE/ZIP : CA 92614
MORTGAGE AMOUNT : 273,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,550.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,842.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 89.98300
----------------------------------------------------------------
0 0031771967 MORTGAGORS: BATES BRUCE
BATES LISA
REGION CODE ADDRESS : 17 OAK CANYON TRAIL
01 CITY : COTO DE CAZA
STATE/ZIP : CA 92679
MORTGAGE AMOUNT : 842,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 842,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 5,743.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 015
LTV : 66.03900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,126,550.00
P & I AMT: 14,504.24
UPB AMT: 2,126,074.04
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 123
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031772072 MORTGAGORS: GUKOVSKY ILYA
GUKOVSKAYA ANNA
REGION CODE ADDRESS : 30458 RAINBOW CREST DRIVE
01 CITY : AGOURA HILLS
STATE/ZIP : CA 91301
MORTGAGE AMOUNT : 297,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,356.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,979.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031772106 MORTGAGORS: SWAMY SOM
SWAMY PUSHPA
REGION CODE ADDRESS : 508 BUTTONWOOD DRIVE
01 CITY : DANVILLE
STATE/ZIP : CA 94506
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,728.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,290.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 61.81800
----------------------------------------------------------------
0 0031772270 MORTGAGORS: REYES NICHOLAS
REYES ALICIA
REGION CODE ADDRESS : 39 WAKONDA
01 CITY : DOVE CANYON AREA
STATE/ZIP : CA 92679
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 315,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,175.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 74.11700
----------------------------------------------------------------
0 0031772361 MORTGAGORS: MEAD RONALD
MEAD JANE
REGION CODE ADDRESS : 4136 PEMBURY PLACE
01 CITY : LA CANADA-FLINTRIDGE
STATE/ZIP : CA 91011
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,619.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,453.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031772379 MORTGAGORS: PREBULA GARY
PREBULA DAWN
REGION CODE ADDRESS : 3807 EVANS STREET
01 CITY : LOS ANGELES
STATE/ZIP : CA 90027
MORTGAGE AMOUNT : 309,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 308,752.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,081.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,761,600.00
P & I AMT: 11,981.39
UPB AMT: 1,760,456.60
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 124
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031772387 MORTGAGORS: CLARK ROBERT
CLARK SUSAN
REGION CODE ADDRESS : 1028 DEVONSHIRE DRIVE
01 CITY : SAN DIEGO
STATE/ZIP : CA 92107
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 315,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,175.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031773104 MORTGAGORS: BHATWAL ALOK
KHATRI DEEPA
REGION CODE ADDRESS : 63 ROCKY HILL ROAD
01 CITY : SOUTH BRUNSWICK
STATE/ZIP : NJ 08540
MORTGAGE AMOUNT : 283,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,955.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.80800
----------------------------------------------------------------
0 0031773351 MORTGAGORS: HAPPEL F.
HAPPEL MARY ELLEN
REGION CODE ADDRESS : 22 PHILLIPS AVE
01 CITY : ROCKPORT
STATE/ZIP : MA 01966
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,719.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,455.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031773369 MORTGAGORS: MADIN IRA
MADIN RONI
REGION CODE ADDRESS : 4000 GREENTREE DRIVE
01 CITY : OCEAN SIDE
STATE/ZIP : NY 11572
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 308,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,428.43 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 10/01/23
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031773799 MORTGAGORS: PEARSON ROBERT
PEARSON PATRICIA
REGION CODE ADDRESS : 2121 SOUTH EAST FOOTHILL BOULEVARD
01 CITY : SANTA ANA
STATE/ZIP : CA 92705
MORTGAGE AMOUNT : 512,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 512,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,492.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 62.06000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,778,200.00
P & I AMT: 12,508.63
UPB AMT: 1,777,919.16
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 125
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031773849 MORTGAGORS: CAPLIS MARK
CAPLIS YANE
REGION CODE ADDRESS : 2032 LEXINGTON ROAD
01 CITY : GREEN OAKS
STATE/ZIP : IL 60048
MORTGAGE AMOUNT : 445,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 445,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,111.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.16600
----------------------------------------------------------------
0 0031773914 MORTGAGORS: FRANCHETTI THEODORE
FRANCHETTI ANITA
REGION CODE ADDRESS : 2612 WESLEY AVENUE
01 CITY : OCEAN CITY
STATE/ZIP : NJ 08226
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,703.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,796.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 66.66666
----------------------------------------------------------------
0 0031774086 MORTGAGORS: BEALOR BARRY
BEALOR NANCY
REGION CODE ADDRESS : 251 KINGS HIGHWAY WEST
01 CITY : HADDONFIELD
STATE/ZIP : NJ 08033
MORTGAGE AMOUNT : 242,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,972.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/18
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 61.86200
----------------------------------------------------------------
0 0031775216 MORTGAGORS: SWAAB DONNA
REGION CODE ADDRESS : 315 35TH STREET
01 CITY : MANHATTAN BEACH
STATE/ZIP : CA 90266
MORTGAGE AMOUNT : 376,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 375,713.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,596.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 46.13400
----------------------------------------------------------------
0 0031775588 MORTGAGORS: ONEID GEORGE
REGION CODE ADDRESS : 7 MORNINGSIDE CIRCLE
01 CITY : LITTLE FALLS
STATE/ZIP : NJ 07424
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,634.47 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,715,500.00
P & I AMT: 12,111.91
UPB AMT: 1,714,917.03
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 126
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031775646 MORTGAGORS: FISH DAVID
FISH JULIE
REGION CODE ADDRESS : 926 QUAIL OAKS LANE
01 CITY : NIPOMO
STATE/ZIP : CA 93444
MORTGAGE AMOUNT : 270,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,870.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031775760 MORTGAGORS: DODGE CRAIG
DODGE ELIZABETH
REGION CODE ADDRESS : 1250 GOLFVIEW DRIVE
01 CITY : WOODRIDGE
STATE/ZIP : IL 60517
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,886.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 91.80300
----------------------------------------------------------------
0 0031775802 MORTGAGORS: AHLE DAVID
AHLE DENISE
REGION CODE ADDRESS : 10172 BEAVER CIRCLE
01 CITY : CYPRESS
STATE/ZIP : CA 90630
MORTGAGE AMOUNT : 251,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,825.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031775836 MORTGAGORS: WHYLEY ROBERT
WHYLEY LAURA
REGION CODE ADDRESS : 2226 FAIRHURST DRIVE
01 CITY : LA CANADA FLINTRIDGE
STATE/ZIP : CA 91011
MORTGAGE AMOUNT : 428,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 427,666.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,919.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.25900
----------------------------------------------------------------
0 0031775869 MORTGAGORS: CARLILE JEFFREY
CARLILE CAROL
REGION CODE ADDRESS : 1910 TAHUNA TERRACE
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92625
MORTGAGE AMOUNT : 334,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 334,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,367.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 39.35294
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,565,000.00
P & I AMT: 10,869.08
UPB AMT: 1,564,666.11
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 127
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031775877 MORTGAGORS: MCFARLAND SCOTT
MCFARLAND TERI
REGION CODE ADDRESS : 20477 SARTELL DRIVE
01 CITY : WALNUT
STATE/ZIP : CA 91789
MORTGAGE AMOUNT : 393,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 393,292.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,685.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031776115 MORTGAGORS: MAC RAE ANNE
HEMM JOSEPH
REGION CODE ADDRESS : 222 SADOWA STREET
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94112
MORTGAGE AMOUNT : 265,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,450.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,788.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 89.98300
----------------------------------------------------------------
0 0031776164 MORTGAGORS: MCCURDY DAVID
MCCURDY JACQUELINE
REGION CODE ADDRESS : 85 NAWILIWILI STREET
01 CITY : HONOLULU
STATE/ZIP : HI 96825
MORTGAGE AMOUNT : 284,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,847.21 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 64.00000
----------------------------------------------------------------
0 0031776875 MORTGAGORS: PETERSON ROGER
PETERSON LISA
REGION CODE ADDRESS : 2012 SILVERWOOD DRIVE
01 CITY : NEWTOWN
STATE/ZIP : PA 18940
MORTGAGE AMOUNT : 300,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,050.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,971.11 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 76.24000
----------------------------------------------------------------
0 0031777121 MORTGAGORS: WILLIS LEE
WILLIS MARILYN
REGION CODE ADDRESS : 20792 SPARKMAN LANE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92646
MORTGAGE AMOUNT : 242,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,736.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,486,300.00
P & I AMT: 10,028.34
UPB AMT: 1,485,992.95
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 128
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031777303 MORTGAGORS: HINTZ TODD
HINTZ KRISTINA
REGION CODE ADDRESS : 10457 EL COMAL DRIVE
01 CITY : SAN DIEGO
STATE/ZIP : CA 92124
MORTGAGE AMOUNT : 260,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,950.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,780.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.98200
----------------------------------------------------------------
0 0031777378 MORTGAGORS: CROWTHER MAYNARD
CROWTHER ANITA
REGION CODE ADDRESS : 257 MONTAIR DRIVE
01 CITY : DANVILLE
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 398,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 398,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,715.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 64.71500
----------------------------------------------------------------
0 0031777485 MORTGAGORS: HEDGES JAMES
HEDGES LAURIE
REGION CODE ADDRESS : 1315 INDIAN SPRINGS DRIVE
01 CITY : GLENDORA
STATE/ZIP : CA 91741
MORTGAGE AMOUNT : 315,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 315,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,125.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.97400
----------------------------------------------------------------
0 0031778178 MORTGAGORS: FOSTER TIMOTHY
FOSTER GINGER
REGION CODE ADDRESS : 15308 HAWTHORNE AVENUE
01 CITY : CHINO HILLS
STATE/ZIP : CA 91709
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,910.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.77700
----------------------------------------------------------------
0 0031778772 MORTGAGORS: LEE DANNY
CAMPANELLI NANNETTE
REGION CODE ADDRESS : 23021 HADEN COURT
01 CITY : SANTA CLARITA
STATE/ZIP : CA 91321
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,771.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,072.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,554,450.00
P & I AMT: 10,602.92
UPB AMT: 1,554,221.72
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 129
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031778863 MORTGAGORS: MICKELSON DAVID
MICKELSON ALICE
REGION CODE ADDRESS : 11649 CYPRESS CANYON ROAD
01 CITY : SAN DIEGO
STATE/ZIP : CA 92131
MORTGAGE AMOUNT : 320,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 320,337.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,132.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 78.42446
----------------------------------------------------------------
0 0031778889 MORTGAGORS: SOPP MARK
REGION CODE ADDRESS : 2239 PASEO SAUCEDAL
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 279,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,526.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,884.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99800
----------------------------------------------------------------
0 0031778897 MORTGAGORS: GARDNER NORMAN
REGION CODE ADDRESS : 529 RIGHTERS MILL ROAD
01 CITY : PENN VALLEY
STATE/ZIP : PA 19072
MORTGAGE AMOUNT : 430,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 430,100.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,934.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.15500
----------------------------------------------------------------
0 0031778954 MORTGAGORS: BERMAN CHRISTOPHER
BERMAN SHERYL
REGION CODE ADDRESS : 6633 TOWERING OAK PATH
01 CITY : COLUMBIA
STATE/ZIP : MD 21044
MORTGAGE AMOUNT : 415,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 415,491.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,697.20 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 79.99500
----------------------------------------------------------------
0 0031779150 MORTGAGORS: SCHLESINGER DAVID
SCHLESINGER DENISE
REGION CODE ADDRESS : 1302 VALLEY OAK WAY
01 CITY : BEL AIR
STATE/ZIP : MD 21014
MORTGAGE AMOUNT : 269,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,489.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,839.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,716,000.00
P & I AMT: 11,488.76
UPB AMT: 1,714,945.07
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 130
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031779184 MORTGAGORS: COURTNEY JOHN
ASBURY HEIDI
REGION CODE ADDRESS : 941 WILLIAM STREET
01 CITY : RIVER FOREST
STATE/ZIP : IL 60305
MORTGAGE AMOUNT : 520,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 520,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,503.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.28500
----------------------------------------------------------------
0 0031779333 MORTGAGORS: STARKMAN PETER
CZUFIN CARRIE
REGION CODE ADDRESS : 3317 CANDLEWOOD ROAD
01 CITY : TORRANCE
STATE/ZIP : CA 90505
MORTGAGE AMOUNT : 388,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 388,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,646.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031779341 MORTGAGORS: DAMIN MARTIN
DAMIN SUSAN
REGION CODE ADDRESS : 8 GREENWOODS ROAD
01 CITY : OLD TAPPAN
STATE/ZIP : NJ 07675
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,785.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,875.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 54.56300
----------------------------------------------------------------
0 0031779366 MORTGAGORS: MORGAN GLENN
MORGAN DIANE
REGION CODE ADDRESS : 2 ROBIN COURT
01 CITY : MORRIS TWP.
STATE/ZIP : NJ 07960
MORTGAGE AMOUNT : 466,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 466,335.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,183.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.07900
----------------------------------------------------------------
0 0031779580 MORTGAGORS: GRAZIANO MICHAEL
GRAZIANO DEBRA
REGION CODE ADDRESS : 4820 EAST COLORADO STREET
01 CITY : LONG BEACH
STATE/ZIP : CA 90814
MORTGAGE AMOUNT : 263,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,816.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 59.10100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,912,700.00
P & I AMT: 13,026.37
UPB AMT: 1,912,121.40
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 131
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031779705 MORTGAGORS: HOWARD MARK
HOWARD KATHERINE
REGION CODE ADDRESS : 3672 TIFFANI COURT
01 CITY : SANTA CRUZ
STATE/ZIP : CA 95065
MORTGAGE AMOUNT : 425,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 425,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,935.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.40200
----------------------------------------------------------------
0 0031780000 MORTGAGORS: NICOLI DOMINIC
REGION CODE ADDRESS : 135 DELLA COURT
01 CITY : CAMPBELL
STATE/ZIP : CA 95008
MORTGAGE AMOUNT : 279,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,903.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 71.53800
----------------------------------------------------------------
0 0031780117 MORTGAGORS: LAWSON JOHN
REGION CODE ADDRESS : 4908 LEADENHALL ROAD
01 CITY : OAK RIDGE
STATE/ZIP : NC 27310
MORTGAGE AMOUNT : 366,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 365,721.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,527.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031780125 MORTGAGORS: SAULS DONALD
SAULS SUE
REGION CODE ADDRESS : 941 BEESON LANE
01 CITY : TALENT
STATE/ZIP : OR 97540
MORTGAGE AMOUNT : 258,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,743.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031780232 MORTGAGORS: SCHOFDING SCOTT
SCHOFDING JO ANN
REGION CODE ADDRESS : 31671 EAST BELLVINE TRAIL
01 CITY : BEVERLY HILLS
STATE/ZIP : MI 48025
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,615.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,740.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,580,750.00
P & I AMT: 10,850.27
UPB AMT: 1,580,086.82
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 132
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031780307 MORTGAGORS: SULLIVAN BRIAN
SULLIVAN MAUREEN
REGION CODE ADDRESS : 4332 NAGLE WAY
01 CITY : FREMONT
STATE/ZIP : CA 94536
MORTGAGE AMOUNT : 365,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 365,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,397.79 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 78.83300
----------------------------------------------------------------
0 0031780521 MORTGAGORS: GORAJIA KUSUM
REGION CODE ADDRESS : 2849 ALTIVO PLACE
01 CITY : FULLERTON
STATE/ZIP : CA 92635
MORTGAGE AMOUNT : 287,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,961.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 47.91600
----------------------------------------------------------------
0 0031780638 MORTGAGORS: WALL JUDI
WALL RICHARD
REGION CODE ADDRESS : 410B NORTH KALAHEO AVENUE
01 CITY : KAILUA
STATE/ZIP : HI 96734
MORTGAGE AMOUNT : 477,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 477,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,253.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.50000
----------------------------------------------------------------
0 0031780943 MORTGAGORS: CAVANAUGH CHRISTOPHER
GIALLORETO PETER
REGION CODE ADDRESS : 5 CROMWELL COURT
01 CITY : WEST WINDSOR
STATE/ZIP : NJ 08540
MORTGAGE AMOUNT : 269,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,100.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,835.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031781784 MORTGAGORS: BROWN STEVEN
PYUN SHANA
REGION CODE ADDRESS : 3 HAWTHORNE STREET
01 CITY : ACTON
STATE/ZIP : MA 01720
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,748.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 87.71900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,648,600.00
P & I AMT: 11,196.81
UPB AMT: 1,648,600.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 133
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031782220 MORTGAGORS: ROWAN RICHARD
ROWAN DEBRA
REGION CODE ADDRESS : 2624 CEDAR CREST COURT
01 CITY : MERCED
STATE/ZIP : CA 95340
MORTGAGE AMOUNT : 313,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 313,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,139.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031782287 MORTGAGORS: CUMMINS LARIMORE
CUMMINS KATHRYN
REGION CODE ADDRESS : 1307 WEST CLIFF DRIVE
01 CITY : SANTA CRUZ
STATE/ZIP : CA 95060
MORTGAGE AMOUNT : 506,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 506,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,494.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 52.16400
----------------------------------------------------------------
0 0031782329 MORTGAGORS: SPEERS JONATHAN
SPEERS M.
REGION CODE ADDRESS : OFF SHORE ROAD
01 CITY : OGUNQUIT
STATE/ZIP : ME 03907
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,387.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.95100
----------------------------------------------------------------
0 0031782451 MORTGAGORS: HENRY BURNS
HENRY ELIZABETH
REGION CODE ADDRESS : 4465 OCEAN BOULEVARD #10
01 CITY : SAN DIEGO
STATE/ZIP : CA 92109
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,810.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,789.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 71.30900
----------------------------------------------------------------
0 0031782717 MORTGAGORS: PYLES RODNEY
PYLES KAREN
REGION CODE ADDRESS : 2001 GOLDENROD LANE
01 CITY : SAN RAMON
STATE/ZIP : CA 94583
MORTGAGE AMOUNT : 350,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,481.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 89.89700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,776,200.00
P & I AMT: 12,293.25
UPB AMT: 1,776,010.01
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 134
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031782865 MORTGAGORS: CLARKE SIMON
CLARKE LINDA
REGION CODE ADDRESS : 4307 TEESDALE AVENUE
01 CITY : STUDIO CITY AREA
STATE/ZIP : CA 91604
MORTGAGE AMOUNT : 263,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,817.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.98200
----------------------------------------------------------------
0 0031782964 MORTGAGORS: KNAPPENBERGER ALBERT
KNAPPENBERGER JO ANN
REGION CODE ADDRESS : 2538 RIDGELAND ROAD
01 CITY : TORRANCE
STATE/ZIP : CA 90505
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,734.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 72.05800
----------------------------------------------------------------
0 0031783129 MORTGAGORS: LARESE JEFFREY
LARESE GRETCHEN
REGION CODE ADDRESS : 3875 SUNCREST AVENUE
01 CITY : SAN JOSE
STATE/ZIP : CA 95132
MORTGAGE AMOUNT : 281,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,964.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 68.53600
----------------------------------------------------------------
0 0031783137 MORTGAGORS: SHARF ALBERT
SHARF IONA
REGION CODE ADDRESS : 4931 PEARLMAN WAY
01 CITY : SAN DIEGO
STATE/ZIP : CA 92130
MORTGAGE AMOUNT : 610,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 610,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,112.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.96300
----------------------------------------------------------------
0 0031783152 MORTGAGORS: VER WAYNE RICHARD
VER WAYNE ROXANA
REGION CODE ADDRESS : 9 SHASTA COURT
01 CITY : RANCHO SANTA MARGARITA
STATE/ZIP : CA 92688
MORTGAGE AMOUNT : 436,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 436,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,011.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 72.30500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,835,600.00
P & I AMT: 12,640.46
UPB AMT: 1,835,600.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 135
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031783178 MORTGAGORS: SWAMINATHAN SRIRAM
SRIRAM SOWMINI
REGION CODE ADDRESS : 6579 JEREMIE DRIVE,
01 CITY : SAN JOSE,
STATE/ZIP : CA 95120
MORTGAGE AMOUNT : 324,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 61.71400
----------------------------------------------------------------
0 0031783186 MORTGAGORS: CASTELLANO DANIEL
KARNOFEL HEIDI
REGION CODE ADDRESS : 22034 CLEARWOOD COURT
01 CITY : CUPERTINO
STATE/ZIP : CA 95014
MORTGAGE AMOUNT : 406,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 406,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,735.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 71.85800
----------------------------------------------------------------
0 0031783335 MORTGAGORS: ALBANESE ROBERT
ALBANESE KATHLEEN
REGION CODE ADDRESS : 54 PHILLIPS ROAD
01 CITY : SUDBURY
STATE/ZIP : MA 01776
MORTGAGE AMOUNT : 458,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 458,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,347.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/23
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 58.71700
----------------------------------------------------------------
0 0031783343 MORTGAGORS: REYNGOLD ILYA
REYNGOLD ZHANNA
REGION CODE ADDRESS : 4217 IRONWOOD AVENUE,
01 CITY : SEAL BEACH,
STATE/ZIP : CA 90740
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,770.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,862.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031783749 MORTGAGORS: LIGHTFOOT DAN
LIGHTFOOT META
REGION CODE ADDRESS : 5421 WILSHIRE DRIVE
01 CITY : SANTA ROSA
STATE/ZIP : CA 95404
MORTGAGE AMOUNT : 303,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,122.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 70.58100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,771,500.00
P & I AMT: 12,305.49
UPB AMT: 1,771,270.48
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 136
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031783772 MORTGAGORS: ROBERTSON KEITH
REGION CODE ADDRESS : 196 CAMBRIDGE AVENUE
01 CITY : SAN LEANDRO
STATE/ZIP : CA 94577
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,795.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031783806 MORTGAGORS: BARTLOW GREGORY
BARTLOW JERICHO
REGION CODE ADDRESS : 116 RIVO ALTO CANAL
01 CITY : LONG BEACH
STATE/ZIP : CA 90803
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 650,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,379.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 53.27800
----------------------------------------------------------------
0 0031783814 MORTGAGORS: LEAVY JOHN
LEAVY RENEE
REGION CODE ADDRESS : 5350 ALTA BAHIA COURT
01 CITY : SAN DIEGO
STATE/ZIP : CA 92109
MORTGAGE AMOUNT : 425,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 425,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,863.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 59.85900
----------------------------------------------------------------
0 0031783822 MORTGAGORS: GURURANGAN RAGHURAMAN
GURURANGAN GAYATRI
REGION CODE ADDRESS : 3114 CORTE DEL CINO
01 CITY : PLEASANTON
STATE/ZIP : CA 94566
MORTGAGE AMOUNT : 265,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,830.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 58.88800
----------------------------------------------------------------
0 0031783830 MORTGAGORS: ANGIER DAVID
ANGIER KENDRA
REGION CODE ADDRESS : 346 RAMONA ROAD
01 CITY : DANVILLE
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,069.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,896,000.00
P & I AMT: 12,938.19
UPB AMT: 1,896,000.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 137
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031783897 MORTGAGORS: BRODNANSKY MARC
BRODNANSKY NEYDA
REGION CODE ADDRESS : 444 PALOS VERDES BOULEVARD
01 CITY : REDONDO BEACH
STATE/ZIP : CA 90277
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,706.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031783996 MORTGAGORS: SPIRO RAYMOND
SPIRO NOLA
REGION CODE ADDRESS : 1229 CALIFORNIA AVENUE #2
01 CITY : SANTA MONICA
STATE/ZIP : CA 90403
MORTGAGE AMOUNT : 309,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,004.17 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 67.17300
----------------------------------------------------------------
0 0031784093 MORTGAGORS: GALLAHER STEVE
GALLAHER MARY
REGION CODE ADDRESS : 15811 LAVENHAM ROAD
01 CITY : HUNTERSVILLE
STATE/ZIP : NC 28078
MORTGAGE AMOUNT : 241,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,763.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,624.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 94.98544
----------------------------------------------------------------
0 0031784101 MORTGAGORS: SOOJIAN WAYNE
SOOJIAN KAREN
REGION CODE ADDRESS : 10202 HARMONY CIRCLE
01 CITY : EDEN PRAIRIE
STATE/ZIP : MN 55347
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,744.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,075.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 78.98700
----------------------------------------------------------------
0 0031784119 MORTGAGORS: UHLIR KENNETH
UHLIR KATHY
REGION CODE ADDRESS : 47 WEST MUNDHANK ROAD
01 CITY : SOUTH BARRRINGTON
STATE/ZIP : IL 60010
MORTGAGE AMOUNT : 413,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 412,201.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,853.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 77.22400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,519,300.00
P & I AMT: 10,264.21
UPB AMT: 1,517,708.46
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 138
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031784143 MORTGAGORS: GRAGNANI LOUIS
GRAGNANI CONNIE
REGION CODE ADDRESS : 1107 GLYNWATER LANE
01 CITY : WAXHAW
STATE/ZIP : NC 28173
MORTGAGE AMOUNT : 310,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 310,551.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,093.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99600
----------------------------------------------------------------
0 0031784168 MORTGAGORS: BALDWIN EDWARD
BALDWIN AURETHA
REGION CODE ADDRESS : 6772 EDGE CLIFF DRIVE
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22315
MORTGAGE AMOUNT : 320,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 320,449.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,187.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99100
----------------------------------------------------------------
0 0031784176 MORTGAGORS: THOMPSON TRISA
REGION CODE ADDRESS : 2315 BOWMAN AVENUE
01 CITY : AUSTIN
STATE/ZIP : TX 78703
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,780.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,783.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 72.82600
----------------------------------------------------------------
0 0031784192 MORTGAGORS: HOTZ JEFFREY
HOTZ LORI
REGION CODE ADDRESS : 472 WILLIAMS STREET
01 CITY : FOLSOM
STATE/ZIP : CA 95630
MORTGAGE AMOUNT : 268,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,350.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,785.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.98600
----------------------------------------------------------------
0 0031784234 MORTGAGORS: STARCK DANIEL
STARCK SABRINA
REGION CODE ADDRESS : 3185 SHELTER COVE LANE
01 CITY : ELK GROVE
STATE/ZIP : CA 95758
MORTGAGE AMOUNT : 253,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,700.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,752.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 94.96500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,421,550.00
P & I AMT: 9,602.25
UPB AMT: 1,420,831.60
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 139
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031784333 MORTGAGORS: CUSICK MARJORIE
CUSICK WILLIAM
REGION CODE ADDRESS : 1180 GULF BLVD
01 CITY : CLEARWATER
STATE/ZIP : FL 33767
MORTGAGE AMOUNT : 243,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,678.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031784630 MORTGAGORS: HUNLEY MICHAEL
HUNLEY CARRIE
REGION CODE ADDRESS : 11663 CYPRESS CANYON ROAD
01 CITY : SAN DIEGO
STATE/ZIP : CA 92131
MORTGAGE AMOUNT : 341,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 341,276.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,301.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99000
----------------------------------------------------------------
0 0031784648 MORTGAGORS: ADRIG JAMES
ADRIG DEBORA
REGION CODE ADDRESS : 41 NEW DAWN
01 CITY : IRVINE
STATE/ZIP : CA 92620
MORTGAGE AMOUNT : 552,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 551,758.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,720.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.11200
----------------------------------------------------------------
0 0031784895 MORTGAGORS: GUITTARD NANCY
GUITTARD GEORGE
REGION CODE ADDRESS : 5052 MC COY AVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95130
MORTGAGE AMOUNT : 276,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,784.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,882.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031785157 MORTGAGORS: BARZA HAROLD
REGION CODE ADDRESS : 17951 SEABREEZE DRIVE
01 CITY : PACIFIC PALISADES
STATE/ZIP : CA 90272
MORTGAGE AMOUNT : 715,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 715,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,697.04 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 015
LTV : 65.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,127,750.00
P & I AMT: 14,279.56
UPB AMT: 2,126,819.96
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 140
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031785447 MORTGAGORS: COX DAVID
COX HEATHER
REGION CODE ADDRESS : 375 SW 169TH PLACE
01 CITY : BEAVERTON
STATE/ZIP : OR 97006
MORTGAGE AMOUNT : 244,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,649.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031785454 MORTGAGORS: DING JIANMEI
KOCHLING HEINRICH
REGION CODE ADDRESS : 42 OAK STREET
01 CITY : WELLESLEY
STATE/ZIP : MA 02482
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,771.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,786.85 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 76.61971
----------------------------------------------------------------
0 0031785876 MORTGAGORS: GELDMACHER JAY
GELDMACHER JUDITH
REGION CODE ADDRESS : 10N890 YORK LANE
01 CITY : ELGIN
STATE/ZIP : IL 60123
MORTGAGE AMOUNT : 394,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 394,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,721.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 72.96200
----------------------------------------------------------------
0 0031786205 MORTGAGORS: HUANG HWA
JEN JANET
REGION CODE ADDRESS : 3224 E. MOBECK STREET
01 CITY : WEST COVINA
STATE/ZIP : CA 91791
MORTGAGE AMOUNT : 253,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,790.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 76.66600
----------------------------------------------------------------
0 0031786270 MORTGAGORS: BOSKOVICH PHILIP
BOSKOVICH LENA
REGION CODE ADDRESS : 4409 GOLF COURSE DRIVE
01 CITY : WESTLAKE VILLAGE
STATE/ZIP : CA 91362
MORTGAGE AMOUNT : 375,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 375,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,498.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 38.12100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,539,300.00
P & I AMT: 10,446.30
UPB AMT: 1,539,071.48
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 141
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031786320 MORTGAGORS: FARRISH JOSEPH
FARRISH STACY
REGION CODE ADDRESS : 2438 TAPESTRY WAY
01 CITY : PLEASANTON
STATE/ZIP : CA 94566
MORTGAGE AMOUNT : 302,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 302,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,111.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 76.45500
----------------------------------------------------------------
0 0031786700 MORTGAGORS: HERRIN CLIFFORD
HERRIN MARY
REGION CODE ADDRESS : 308 SURBER DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95123
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,769.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.36500
----------------------------------------------------------------
0 0031786924 MORTGAGORS: CHIULLI ROY
BUCHANAN JOAN
REGION CODE ADDRESS : 45 WINSLOW ROAD
01 CITY : WESTWOOD
STATE/ZIP : MA 02090
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 305,937.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,247.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 04/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 46.96900
----------------------------------------------------------------
0 0031787260 MORTGAGORS: HODGE OWEN
HODGE TERESA
REGION CODE ADDRESS : 15 VIA BABERA
01 CITY : RANCHO SANTA MARGARITA
STATE/ZIP : CA 92688
MORTGAGE AMOUNT : 324,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,185.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 89.99400
----------------------------------------------------------------
0 0031787682 MORTGAGORS: CARSTENS CAROLYN
CARSTENS RICHARD
REGION CODE ADDRESS : 24 THE LANDMARK
01 CITY : NORTHFIELD
STATE/ZIP : IL 60093
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 308,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,075.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,494,400.00
P & I AMT: 10,389.43
UPB AMT: 1,490,337.90
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 142
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031787831 MORTGAGORS: ZIEMER DEREK
ZIEMER PENNY
REGION CODE ADDRESS : 626 NORTH 63RD STREET
01 CITY : SEATTLE
STATE/ZIP : WA 98103
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,832.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031787898 MORTGAGORS: KOENIGSBERG STEPHEN
REGION CODE ADDRESS : 6 CLEARWATER
01 CITY : IRVINE
STATE/ZIP : CA 92604
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,985.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031788391 MORTGAGORS: KALATHIPARAMBIL JOSEPH
JOSEPH JANE
REGION CODE ADDRESS : 303 WEDGEWOOD ROAD
01 CITY : MORGANVILLE
STATE/ZIP : NJ 07751
MORTGAGE AMOUNT : 281,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,650.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,969.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 94.98400
----------------------------------------------------------------
0 0031788672 MORTGAGORS: FELT FLOYD
FELT TONI
REGION CODE ADDRESS : 7791 REVELLE DRIVE
01 CITY : LA JOLLA
STATE/ZIP : CA 92037
MORTGAGE AMOUNT : 540,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 540,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,683.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 58.37800
----------------------------------------------------------------
0 0031788755 MORTGAGORS: GANDENBERGER JAMES
GANDENBERGER LORI
REGION CODE ADDRESS : 2166 SHADOW RIDGE WAY
01 CITY : SAN JOSE
STATE/ZIP : CA 95138
MORTGAGE AMOUNT : 600,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 600,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,891.59 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 73.52900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,977,650.00
P & I AMT: 13,362.96
UPB AMT: 1,977,650.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 143
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031788789 MORTGAGORS: SHAW ROBERT
SHAW PAMELA
REGION CODE ADDRESS : 169 MERANO STREET
01 CITY : DANVILLE
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 560,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 560,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,678.80 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 72.72700
----------------------------------------------------------------
0 0031788862 MORTGAGORS: BRYCE KIM
BRYCE DAVID
REGION CODE ADDRESS : 32 RICE ROAD
01 CITY : WOODBRIDGE
STATE/ZIP : CT 06525
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,829.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 72.36800
----------------------------------------------------------------
0 0031789076 MORTGAGORS: NASONGKHLA KEN
NASONGKHLA SIRIWAN
REGION CODE ADDRESS : 204 TERRAMAR
01 CITY : SAN CLEMENTE
STATE/ZIP : CA 92673
MORTGAGE AMOUNT : 424,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 424,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,750.06 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031789092 MORTGAGORS: DELVY RICHARD
DELVY BONNIE
REGION CODE ADDRESS : 31775 W. OAK RANCH COURT
01 CITY : WESTLAKE VILLAGE
STATE/ZIP : CA 91361
MORTGAGE AMOUNT : 467,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 467,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,265.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 69.18500
----------------------------------------------------------------
0 0031789431 MORTGAGORS: CHOATE WILLIAM
CHOATE DEBORAH
REGION CODE ADDRESS : 35058 DORCHESTER COURT
01 CITY : NEWARK
STATE/ZIP : CA 94560
MORTGAGE AMOUNT : 278,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,946.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,004,400.00
P & I AMT: 13,470.38
UPB AMT: 2,004,400.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 144
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031789456 MORTGAGORS: BANNON ROBERTA
REGION CODE ADDRESS : 1415 PIEDMONT ROAD
01 CITY : SAN JOSE
STATE/ZIP : CA 95132
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,629.18 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031789464 MORTGAGORS: LOPERENA ROBERT
LOPERENA GAIL
REGION CODE ADDRESS : 5568 PASEO NAVARRO
01 CITY : PLEASANTON,
STATE/ZIP : CA 94566
MORTGAGE AMOUNT : 303,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,123.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031789472 MORTGAGORS: HENDRICKSON DAVID
HENDRICKSON PAMELA
REGION CODE ADDRESS : 7032 CORTE ROSA
01 CITY : PLEASANTON
STATE/ZIP : CA 94588
MORTGAGE AMOUNT : 309,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,161.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 69.48300
----------------------------------------------------------------
0 0031789597 MORTGAGORS: TAYLOR WESLEY
TAYLOR JULIE
REGION CODE ADDRESS : 152 AMBER DRIVE
01 CITY : INMAN
STATE/ZIP : SC 29349
MORTGAGE AMOUNT : 324,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 323,747.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,210.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031789753 MORTGAGORS: IMBURGIA THOMAS
IMBURGIA DAWN
REGION CODE ADDRESS : 1408 SHAW DRIVE
01 CITY : NAPERVILLE
STATE/ZIP : IL 60564
MORTGAGE AMOUNT : 259,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,788.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.69200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,443,950.00
P & I AMT: 9,914.12
UPB AMT: 1,443,697.24
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 145
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031789811 MORTGAGORS: ABDELAATY ASHRAF
ABDELAATY SHYMAA
REGION CODE ADDRESS : 21700 ALLONBY CIRCLE
01 CITY : YORBA LINDA
STATE/ZIP : CA 92887
MORTGAGE AMOUNT : 374,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 374,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,490.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031789852 MORTGAGORS: MILLER KEN
MILLER BERNADETTE
REGION CODE ADDRESS : 83 KNIGHT DRIVE
01 CITY : SAN RAFAEL
STATE/ZIP : CA 94901
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,762.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,073.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 78.96100
----------------------------------------------------------------
0 0031789860 MORTGAGORS: MATTHEWS WILLIAM
BESSO-MATTHEWS LISA ANN
REGION CODE ADDRESS : 1079 FAIRVIEW AVENUE
01 CITY : SAN JOSE
STATE/ZIP : CA 95125
MORTGAGE AMOUNT : 392,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 391,678.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,607.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031790355 MORTGAGORS: BONDI DANIEL
BONDI STEHANIE
REGION CODE ADDRESS : 1510 FOX PATH COURT
01 CITY : HOFFMAN ESTATES
STATE/ZIP : IL 60192
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,719.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031790389 MORTGAGORS: PARKER JULIE
REGION CODE ADDRESS : 812 HUNTINGTON STREET
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92648
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,809.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 71.57800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,594,400.00
P & I AMT: 10,701.41
UPB AMT: 1,593,841.53
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 146
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031790520 MORTGAGORS: PUGLISI KENNETH
REGION CODE ADDRESS : 135 WOODCLIFF AVENUE
01 CITY : WOODCLIFF LAKE
STATE/ZIP : NJ 07675
MORTGAGE AMOUNT : 282,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,975.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.44000
----------------------------------------------------------------
0 0031790678 MORTGAGORS: SHORE ROBIN
REGION CODE ADDRESS : 24101 DEEP NECK ROAD
01 CITY : ROYAL OAK
STATE/ZIP : MD 21662
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 400,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,728.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 52.80500
----------------------------------------------------------------
0 0031790728 MORTGAGORS: WILSON CAROL
WILSON RICHARD
REGION CODE ADDRESS : 4198 JAN WAY
01 CITY : SAN JOSE
STATE/ZIP : CA 95124
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,684.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 73.52900
----------------------------------------------------------------
0 0031790736 MORTGAGORS: CAPUYAN BONIFACIO
CAPUYAN ADELA
REGION CODE ADDRESS : 4625 LAKESHORE DRIVE
01 CITY : SANTA CLARA
STATE/ZIP : CA 95054
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,066.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031790793 MORTGAGORS: AGOSTI THOMAS
BROWN JULIE
REGION CODE ADDRESS : 4544 47TH AVENUE NORTH EAST
01 CITY : SEATTLE
STATE/ZIP : WA 98105
MORTGAGE AMOUNT : 335,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,285.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 62.61600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,559,500.00
P & I AMT: 10,740.35
UPB AMT: 1,559,500.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 147
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031791601 MORTGAGORS: YASAVOLIAN MOSTAFA
YASAVOLIAN MARTHA
REGION CODE ADDRESS : 1004 WEST ROSE CIRCLE
01 CITY : LOS ALTOS
STATE/ZIP : CA 94024
MORTGAGE AMOUNT : 630,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 630,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,459.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0031791619 MORTGAGORS: HAMPTON MICHAEL
REGION CODE ADDRESS : 18511 MEDFORD AVENUE
01 CITY : SANTA ANA (AREA)
STATE/ZIP : CA 92705
MORTGAGE AMOUNT : 279,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,857.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031791940 MORTGAGORS: LEBOEUF JEAN-NOEL
SCHOIRFER PATRICIA
REGION CODE ADDRESS : 16811 MAGNOLIA BOULEVARD
01 CITY : ENCINO
STATE/ZIP : CA 91436
MORTGAGE AMOUNT : 263,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,994.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,795.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031792211 MORTGAGORS: WANG YAO
REGION CODE ADDRESS : 25 HAWTHORNE ROAD
01 CITY : SHREWSBURY
STATE/ZIP : MA 01545
MORTGAGE AMOUNT : 259,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,197.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,769.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99600
----------------------------------------------------------------
0 0031792559 MORTGAGORS: REYNOLDS DAVID
REYNOLDS JANET
REGION CODE ADDRESS : 56720 NEST PINE DRIVE
01 CITY : SUNRIVER
STATE/ZIP : OR 97707
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,502.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,229.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 49.60600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,746,800.00
P & I AMT: 12,111.25
UPB AMT: 1,745,894.62
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 148
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031793144 MORTGAGORS: PHILBIN MICHAEL
PHILBIN CARMEL
REGION CODE ADDRESS : 1699 VIA CAMPO VERDE
01 CITY : SAN JOSE
STATE/ZIP : CA 95120
MORTGAGE AMOUNT : 462,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 462,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,235.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031793250 MORTGAGORS: BOWMAN RUSSELL
BOWMAN VALERIE
REGION CODE ADDRESS : 303 OXFORD ROAD
01 CITY : VILLANOVA
STATE/ZIP : PA 19085
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,639.20 OUTSIDE CONV DATE :
LIFETIME RATE : 6.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031793458 MORTGAGORS: MILLER DANIEL
MILLER REBECCA
REGION CODE ADDRESS : 50 DECORAH LANE
01 CITY : CAMPBELL
STATE/ZIP : CA 95008
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 315,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,148.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031793474 MORTGAGORS: WHEELWRIGHT DAVID
REGION CODE ADDRESS : 1023 SUMAC DRIVE
01 CITY : SUNNYVALE,
STATE/ZIP : CA 94086
MORTGAGE AMOUNT : 307,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,094.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.23500
----------------------------------------------------------------
0 0031794142 MORTGAGORS: WOOD CARROLL
WOOD FAITH
REGION CODE ADDRESS : 3308 VERACRUZ DRIVE
01 CITY : SAN RAMON
STATE/ZIP : CA 94583
MORTGAGE AMOUNT : 314,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,195.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 77.53000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,654,800.00
P & I AMT: 11,313.83
UPB AMT: 1,654,800.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 149
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031794423 MORTGAGORS: PETERSON JOHN
PETERSON LINDA
REGION CODE ADDRESS : 14 MOSELEM SPRINGS COURT,
01 CITY : SKILLMAN,
STATE/ZIP : NJ 08558
MORTGAGE AMOUNT : 269,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,450.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,812.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
0 0031794498 MORTGAGORS: MCLARNON THOMAS
DEETZ TONYA
REGION CODE ADDRESS : 6275 DREXEL AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90048
MORTGAGE AMOUNT : 289,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,971.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 68.80900
----------------------------------------------------------------
0 0031794548 MORTGAGORS: MATHEUS THOMAS
MATHEUS MONA
REGION CODE ADDRESS : 330 GLORIETTA PLACE
01 CITY : CORONADO
STATE/ZIP : CA 92118
MORTGAGE AMOUNT : 364,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 364,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,514.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 62.22200
----------------------------------------------------------------
0 0031794746 MORTGAGORS: MUNOZ JUAN
MUNOZ MARIA
REGION CODE ADDRESS : 1013 ROLLING WOODS WAY
01 CITY : CONCORD
STATE/ZIP : CA 94521
MORTGAGE AMOUNT : 359,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,597.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,364.29 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 88.88600
----------------------------------------------------------------
0 0031795057 MORTGAGORS: HERNANDEZ ERNESTO
WATSON-HERNANDEZ SHELLEY
REGION CODE ADDRESS : 670 TAMPICO CIRCLE
01 CITY : CORONA
STATE/ZIP : CA 91719
MORTGAGE AMOUNT : 313,103.00 OPTION TO CONVERT :
UNPAID BALANCE : 312,858.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,135.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.87000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,595,103.00
P & I AMT: 10,798.74
UPB AMT: 1,593,906.94
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 150
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031795081 MORTGAGORS: GREEN GARY
GREEN KAREN
REGION CODE ADDRESS : 3223 ELK VIEW DRIVE
01 CITY : EVERGREEN
STATE/ZIP : CO 80439
MORTGAGE AMOUNT : 466,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 465,636.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,178.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.47200
----------------------------------------------------------------
0 0031795099 MORTGAGORS: ZORSCH GEORGE
ZORSCH SYLVIA
REGION CODE ADDRESS : 9609 CAMDEN HILLS AVENUE
01 CITY : LAS VEGAS
STATE/ZIP : NV 89128
MORTGAGE AMOUNT : 390,897.00 OPTION TO CONVERT :
UNPAID BALANCE : 390,599.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,699.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.97700
----------------------------------------------------------------
0 0031795438 MORTGAGORS: SOTIROPOULOS STEPHEN
REGION CODE ADDRESS : 4 HORNBEAM CIRCLE
01 CITY : SANDWICH
STATE/ZIP : MA 02537
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,783.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 69.04100
----------------------------------------------------------------
0 0031795594 MORTGAGORS: CANTALUPO ROBERT
LEWIS CONNIE
REGION CODE ADDRESS : 8155 MOVINGSIDE DRIVE
01 CITY : GRANITE BAY
STATE/ZIP : CA 95746
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,942.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031795669 MORTGAGORS: OSWALD RICHARD
OSWALD ELAINE
REGION CODE ADDRESS : 14330 AVENIDA PALIZADA
01 CITY : SAN DIEGO
STATE/ZIP : CA 92067
MORTGAGE AMOUNT : 421,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 421,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,979.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 70.16600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,821,897.00
P & I AMT: 12,584.93
UPB AMT: 1,821,236.03
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 151
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031796402 MORTGAGORS: CARROLL WILLIAM
REGION CODE ADDRESS : 25 BELMONTE DRIVE
01 CITY : PALM DESERT
STATE/ZIP : CA 92211
MORTGAGE AMOUNT : 285,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,066.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,898.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 78.00000
----------------------------------------------------------------
0 0031796451 MORTGAGORS: COX ADAM
COX RAYNA
REGION CODE ADDRESS : 769 PLAZA LINDA
01 CITY : NOVATO
STATE/ZIP : CA 94947
MORTGAGE AMOUNT : 240,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,700.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 94.98000
----------------------------------------------------------------
0 0031797186 MORTGAGORS: FORSTER ROBERT
FORSTER JANIE
REGION CODE ADDRESS : 26842 ANADALE DRIVE
01 CITY : LAGUNA HILLS
STATE/ZIP : CA 92653
MORTGAGE AMOUNT : 335,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,313.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 69.79100
----------------------------------------------------------------
0 0031797327 MORTGAGORS: FOTO JOHN
FOTO LISA
REGION CODE ADDRESS : 28295 DRIZA
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 297,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,951.08 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 71.56626
----------------------------------------------------------------
0 0031797681 MORTGAGORS: DE RECAT CHRIS
DE RECAT ALAYNE
REGION CODE ADDRESS : 33596 AVENIDA CALITA
01 CITY : SAN JUAN CAPISTRANO
STATE/ZIP : CA 92675
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,872.25 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 67.85700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,442,600.00
P & I AMT: 9,736.03
UPB AMT: 1,442,366.14
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 152
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031797699 MORTGAGORS: BRACAMONTE DEBBIE
REGION CODE ADDRESS : 516 21ST STREET
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92648
MORTGAGE AMOUNT : 345,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 345,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,266.41 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031797830 MORTGAGORS: BRODIE WILLIAM
REGION CODE ADDRESS : 6035 CIELO VISTA COURT
01 CITY : CAMARILLO
STATE/ZIP : CA 93012
MORTGAGE AMOUNT : 321,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 321,061.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,246.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 63.00000
----------------------------------------------------------------
0 0031798093 MORTGAGORS: TYBURK WILLIAM
TYBURK JOY
REGION CODE ADDRESS : 280 N. PARK BLVD.
01 CITY : GLEN ELLYN
STATE/ZIP : IL 60137
MORTGAGE AMOUNT : 251,480.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,480.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,694.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031798143 MORTGAGORS: BROWN GEORGE
BROWN NANCY
REGION CODE ADDRESS : 418 PACIFIC CIRCLE
01 CITY : NEWBURY PARK AREA
STATE/ZIP : CA 91320
MORTGAGE AMOUNT : 246,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,722.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031799406 MORTGAGORS: STONE DAVID
STONE SANDRA
REGION CODE ADDRESS : 2962 BOSTONIAN DRIVE
01 CITY : LOS ALAMITOS(AREA)
STATE/ZIP : CA 90720
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,712.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,425.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,524,180.00
P & I AMT: 10,355.51
UPB AMT: 1,523,653.66
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 153
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031799414 MORTGAGORS: SADLER SCOTT
SADLER ANNE
REGION CODE ADDRESS : 1045 SAN RAMON WAY
01 CITY : SACRAMENTO
STATE/ZIP : CA 95864
MORTGAGE AMOUNT : 283,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,889.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,979.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031799554 MORTGAGORS: ROSSI DAVID
ROSSI DESIREE
REGION CODE ADDRESS : 2807 CAROB STREET
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92660
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,672.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,661.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 61.06800
----------------------------------------------------------------
0 0031800030 MORTGAGORS: QIU XUE
QIU STEPHANIE
REGION CODE ADDRESS : 2432 HERITAGE WAY
01 CITY : UNION CITY
STATE/ZIP : CA 94587
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,726.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,387.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 70.14000
----------------------------------------------------------------
0 0031800048 MORTGAGORS: HALVERSON WARREN
HALVERSON MARYANNE
REGION CODE ADDRESS : 13701 NORTHEAST 32ND PLACE
01 CITY : BELLEVUE
STATE/ZIP : WA 98005
MORTGAGE AMOUNT : 267,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,457.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,870.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 12/01/27
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 54.59100
----------------------------------------------------------------
0 0031800477 MORTGAGORS: DAVEY R
DAVEY KATHLEEN
REGION CODE ADDRESS : 272 WEST LATIMER AVENUE
01 CITY : CAMPBELL
STATE/ZIP : CA 95008
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,797.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,981.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,580,600.00
P & I AMT: 10,880.54
UPB AMT: 1,577,544.30
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 154
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031801202 MORTGAGORS: MARKEL PAUL
MARKEL ELISE
REGION CODE ADDRESS : 105 PEARLGRASS COURT
01 CITY : SAN RAMON
STATE/ZIP : CA 94583
MORTGAGE AMOUNT : 316,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 316,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,182.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.00000
----------------------------------------------------------------
0 0031801236 MORTGAGORS: HANEY GREGORY
HANEY LORIE
REGION CODE ADDRESS : 7 GROVER COURT
01 CITY : WALNUT CREEK
STATE/ZIP : CA 94596
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,002.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 66.66600
----------------------------------------------------------------
0 0031801277 MORTGAGORS: YANG JUN
JIANG HONGYAN
REGION CODE ADDRESS : 20896 PEPPER TREE LANE
01 CITY : CUPERTINO
STATE/ZIP : CA 95014
MORTGAGE AMOUNT : 442,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 442,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,940.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 72.69700
----------------------------------------------------------------
0 0031801905 MORTGAGORS: THOMPSON ROGER
TSUJI-THOMPSON SUSAN
REGION CODE ADDRESS : 2418 GRAND SUMMIT ROAD
01 CITY : TORRANCE
STATE/ZIP : CA 90505
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,784.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,819.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.88100
----------------------------------------------------------------
0 0031801921 MORTGAGORS: SALVINI JOHN
SALVINI BROOKE
REGION CODE ADDRESS : 7200 LEWIS LANE
01 CITY : SAN LUIS OBISPO
STATE/ZIP : CA 93401
MORTGAGE AMOUNT : 480,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 479,634.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,315.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,798,000.00
P & I AMT: 12,260.42
UPB AMT: 1,797,418.85
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 155
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031801954 MORTGAGORS: NGO HENRY
TRAN ALISON
REGION CODE ADDRESS : 1721 PEBBLE BEACH COURT
01 CITY : MILPITAS
STATE/ZIP : CA 95035
MORTGAGE AMOUNT : 483,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 482,641.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,377.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0031801970 MORTGAGORS: MORSI HOSSAM
MORSI MARGARET
REGION CODE ADDRESS : 935 CULEBRA ROAD
01 CITY : HILLSBOROUGH
STATE/ZIP : CA 94010
MORTGAGE AMOUNT : 649,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 649,005.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,485.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 56.47800
----------------------------------------------------------------
0 0031801988 MORTGAGORS: CULLINS DAYNA
REGION CODE ADDRESS : 5020 WEST 63RD STREET
01 CITY : LOS ANGELES
STATE/ZIP : CA 90056
MORTGAGE AMOUNT : 243,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,995.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,597.66 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031801996 MORTGAGORS: STOUT JONATHAN
REGION CODE ADDRESS : 3126 HODLER DRIVE
01 CITY : TOPANGA
STATE/ZIP : CA 90290
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,818.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,706.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 65.06600
----------------------------------------------------------------
0 0031802028 MORTGAGORS: PHILPOT MICHELLE
SNYDER REBECCA
REGION CODE ADDRESS : 45-47 MARS STREET
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94114
MORTGAGE AMOUNT : 464,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 463,628.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,126.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,083,700.00
P & I AMT: 14,292.96
UPB AMT: 2,082,090.84
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 156
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031802044 MORTGAGORS: BLOOM DENNIS
BLOOM TEDI
REGION CODE ADDRESS : 13 APRIL LANE
01 CITY : WESTFORD
STATE/ZIP : MA 01886
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,810.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,783.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 71.83000
----------------------------------------------------------------
0 0031802051 MORTGAGORS: CUOMO THOMAS
CUOMO PEGGY
REGION CODE ADDRESS : 10735 EL MARBEA LANE
01 CITY : LA MESA
STATE/ZIP : CA 91941
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,784.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,027.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 77.95600
----------------------------------------------------------------
0 0031802069 MORTGAGORS: KIM SUSAN
LIBERATORE JAMES
REGION CODE ADDRESS : 2601 CARISBROOK DRIVE
01 CITY : OAKLAND
STATE/ZIP : CA 94611
MORTGAGE AMOUNT : 279,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,992.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,952.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031802135 MORTGAGORS: CASISSA FRED
LABAT R.
REGION CODE ADDRESS : 18 GRANANDA DRIVE
01 CITY : CORTE MADERA
STATE/ZIP : CA 94925
MORTGAGE AMOUNT : 295,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,363.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,991.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.64600
----------------------------------------------------------------
0 0031802242 MORTGAGORS: BASSIS ANDREW
REGION CODE ADDRESS : 3475 IVY TRAIL
01 CITY : CALABASAS
STATE/ZIP : CA 91302
MORTGAGE AMOUNT : 336,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,737.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,292.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,455,800.00
P & I AMT: 10,046.58
UPB AMT: 1,454,689.80
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 157
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031802259 MORTGAGORS: ERVIN GARY
ERVIN MICHELLE
REGION CODE ADDRESS : 26272 PARK VIEW ROAD
01 CITY : VALENCIA
STATE/ZIP : CA 91355
MORTGAGE AMOUNT : 404,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 403,707.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,859.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 70.26000
----------------------------------------------------------------
0 0031802267 MORTGAGORS: NEMSIK JAMES
MURPHY PATRICA
REGION CODE ADDRESS : 490 SEAVIEW STREET
01 CITY : LAGUNA BEACH
STATE/ZIP : CA 92651
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,531.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,929.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 64.44400
----------------------------------------------------------------
0 0031802275 MORTGAGORS: REINHART GLENN
REGION CODE ADDRESS : 2805 BEN LOMOND DRIVE
01 CITY : SANTA BARBARA
STATE/ZIP : CA 93105
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,766.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,967.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 76.84200
----------------------------------------------------------------
0 0031802309 MORTGAGORS: TANNER DAVID
REGION CODE ADDRESS : 122 EAST OCEAN FRONT
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92661
MORTGAGE AMOUNT : 649,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 648,541.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,649.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 61.80900
----------------------------------------------------------------
0 0031802333 MORTGAGORS: VICTORIA ANTHONY
VICTORIA JANICE
REGION CODE ADDRESS : 3801 SHAD PLACE
01 CITY : SAN PEDRO
STATE/ZIP : CA 90732
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,782.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,123.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,935,000.00
P & I AMT: 13,529.04
UPB AMT: 1,933,330.26
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 158
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031802341 MORTGAGORS: YOMTOUBIAN RUBEN
YOMTOUBIAN ORNA
REGION CODE ADDRESS : 20200 MARILLA COURT
01 CITY : SARATOGA
STATE/ZIP : CA 95070
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,779.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,320.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 51.61200
----------------------------------------------------------------
0 0031802374 MORTGAGORS: LAZATIN RONALD
LAZATIN JANET
REGION CODE ADDRESS : 19 ASHTON
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,721.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,262.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031802382 MORTGAGORS: FINN KEVIN
FINN ROSE
REGION CODE ADDRESS : 30309 EAGLEBROOK DRIVE
01 CITY : AGOURA HILLS
STATE/ZIP : CA 91301
MORTGAGE AMOUNT : 292,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,277.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,020.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031802440 MORTGAGORS: TITUS TIMOTHY
TITUS CAROL
REGION CODE ADDRESS : 1055 MARIGAOLD COURT
01 CITY : SUNNYVALE
STATE/ZIP : CA 94086
MORTGAGE AMOUNT : 385,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 384,668.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,497.11 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 79.38100
----------------------------------------------------------------
0 0031802606 MORTGAGORS: SOLOMON BERNARD
REGION CODE ADDRESS : 10433 WILSHIRE BOULEVARD PENTHOUSE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90024
MORTGAGE AMOUNT : 295,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,781.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,062.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 73.75000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,632,500.00
P & I AMT: 11,162.29
UPB AMT: 1,631,228.08
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 159
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031803422 MORTGAGORS: FOLTZ JAMES
TUCKER AMY
REGION CODE ADDRESS : 1015 SOLANA DRIVE
01 CITY : MOUNTAIN VIEW
STATE/ZIP : CA 94040
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,789.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,985.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 55.68600
----------------------------------------------------------------
0 0031805021 MORTGAGORS: HIME RICHARD
MEIER KAROL
REGION CODE ADDRESS : 55 VALLEY ROAD
01 CITY : SAN ANSELMO
STATE/ZIP : CA 94960
MORTGAGE AMOUNT : 302,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 302,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,009.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 71.05800
----------------------------------------------------------------
0 0031806730 MORTGAGORS: SIU PIK-KUEN
REGION CODE ADDRESS : 1674 GROSBEAK AVENUE
01 CITY : SUNNYVALE
STATE/ZIP : CA 94087
MORTGAGE AMOUNT : 336,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,724.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,235.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031806987 MORTGAGORS: DAS SWAPAN
DAS MADHUSREE
REGION CODE ADDRESS : 13503 SOUTH TRACEWOOD BEND
01 CITY : HOUSTON
STATE/ZIP : TX 77077
MORTGAGE AMOUNT : 292,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,260.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,946.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 83.57100
----------------------------------------------------------------
0 0031807134 MORTGAGORS: LEONHARD JAMES
BOULIO MALLIA
REGION CODE ADDRESS : 1478 FAIRWAY VISTA COURT
01 CITY : CALISTOGA
STATE/ZIP : CA 94515
MORTGAGE AMOUNT : 282,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,785.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,947.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.21300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,496,500.00
P & I AMT: 10,124.11
UPB AMT: 1,495,559.48
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 160
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031807274 MORTGAGORS: MCGINTY KEVIN
REGION CODE ADDRESS : 17 GLOUCESTER STREET #6
01 CITY : BOSTON
STATE/ZIP : MA 02116
MORTGAGE AMOUNT : 558,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 558,250.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,808.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0031807365 MORTGAGORS: LININGER MITCHELL
DRAVES JEFFREY
REGION CODE ADDRESS : 23842 SHADY TREE CIRCLE
01 CITY : LAGUNA NIGUEL
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,994.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031807506 MORTGAGORS: MCNAMARA WILLIAM
MCNAMARA KAY
REGION CODE ADDRESS : 6141 COUNTRY VIEW DRIVE
01 CITY : YORBA LINDA
STATE/ZIP : CA 92886
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,804.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,911.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 72.97200
----------------------------------------------------------------
0 0031807589 MORTGAGORS: SADEGHI MOHAMMAD
HADJI-GHAFOURI LADAN
REGION CODE ADDRESS : 1015 CRYSTAL COURT
01 CITY : WALNUT CREEK
STATE/ZIP : CA 94598
MORTGAGE AMOUNT : 386,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 385,727.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,765.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 71.28300
----------------------------------------------------------------
0 0031807670 MORTGAGORS: ANDERSON DAVID
ANDERSON ANGEL
REGION CODE ADDRESS : 6206 EAST BRYCE AVENUE
01 CITY : ORANGE
STATE/ZIP : CA 92867
MORTGAGE AMOUNT : 281,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,870.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,791,450.00
P & I AMT: 12,349.67
UPB AMT: 1,790,982.16
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 161
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031807803 MORTGAGORS: ANDERSON P
ANDERSON MARY
REGION CODE ADDRESS : 6290 COVINGTON WAY
01 CITY : GOLETA
STATE/ZIP : CA 93117
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,777.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.94900
----------------------------------------------------------------
0 0031807993 MORTGAGORS: NIKRAVAN MASOUD
NIKRAVAN FIROUZEH
REGION CODE ADDRESS : 5629 MARIALINDA STREET
01 CITY : TORRANCE
STATE/ZIP : CA 90503
MORTGAGE AMOUNT : 351,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 351,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,427.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.98800
----------------------------------------------------------------
0 0031808371 MORTGAGORS: MAGANAHALLI SHIVA
MAGANAHALLI RUPA
REGION CODE ADDRESS : 110 PEARLGLASS COURT
01 CITY : SAN RAMON
STATE/ZIP : CA 94583
MORTGAGE AMOUNT : 299,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,406.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,995.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
0 0031808413 MORTGAGORS: JORDAN LAURA
WILSON ALAN
REGION CODE ADDRESS : 1812 MEZES AVENUE
01 CITY : BELMONT
STATE/ZIP : CA 94002
MORTGAGE AMOUNT : 349,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,446.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,475.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.99500
----------------------------------------------------------------
0 0031808447 MORTGAGORS: COXE J.
COXE PAULA
REGION CODE ADDRESS : 26692 BUCKINGHAM DRIVE
01 CITY : SAN JUAN CAPISTRANO
STATE/ZIP : CA 92675
MORTGAGE AMOUNT : 439,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 438,674.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,069.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 61.05700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,740,100.00
P & I AMT: 12,065.33
UPB AMT: 1,738,805.37
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 162
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031808579 MORTGAGORS: KILPATRICK ROBERT
WESKAMP BIRGIT
REGION CODE ADDRESS : 4110 FAIRWAY DRIVE
01 CITY : SOQUEL
STATE/ZIP : CA 95073
MORTGAGE AMOUNT : 438,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 438,066.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,027.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031808645 MORTGAGORS: SCHMITT ALBERT
SCHMITT MARGRETH
REGION CODE ADDRESS : 9960 CIELO VISTA
01 CITY : ESCONDIDO
STATE/ZIP : CA 92026
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 340,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,319.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031808652 MORTGAGORS: WECKLER DAVID
KALMANSON BARBARA
REGION CODE ADDRESS : 45 TAPPAN ROAD
01 CITY : SAN ANSELMO
STATE/ZIP : CA 94960
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,740.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,189.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 30.09200
----------------------------------------------------------------
0 0031808736 MORTGAGORS: LAU RICHARD
LAU MEDGE
REGION CODE ADDRESS : 2344 29TH AVENUE
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94116
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,771.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,494.80 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.81200
----------------------------------------------------------------
0 0031808942 MORTGAGORS: SWENSON DAVID
SWENSON JENNIFER
REGION CODE ADDRESS : 26033 SE 38TH STREET
01 CITY : ISSAQUAH
STATE/ZIP : WA 98029
MORTGAGE AMOUNT : 277,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,272.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,846.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,720,900.00
P & I AMT: 11,877.93
UPB AMT: 1,719,850.92
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 163
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031808975 MORTGAGORS: LOEWKE SALLY
LOEWKE JAMES
REGION CODE ADDRESS : 21527 FOX FIELD CIRCLE
01 CITY : GERMANTOWN
STATE/ZIP : MD 20876
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,775.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,964.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031809072 MORTGAGORS: GARRETT GEORGE
ROCCHIO CATHERINE
REGION CODE ADDRESS : 60 HARRINGTON RIDGE ROAD
01 CITY : SHERBORN
STATE/ZIP : MA 01770
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,816.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,862.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 48.10300
----------------------------------------------------------------
0 0031809163 MORTGAGORS: ZICK GREGORY
ZICK MARILYN
REGION CODE ADDRESS : 11643 73RD PLACE NE
01 CITY : KIRKLAND
STATE/ZIP : WA 98034
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 379,703.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,592.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031809189 MORTGAGORS: RAUDSEP EDWIN
RAUDSEP KAREN
REGION CODE ADDRESS : 737 WISTERIA DRIVE
01 CITY : FREMONT
STATE/ZIP : CA 94539
MORTGAGE AMOUNT : 411,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 410,987.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,877.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0031809221 MORTGAGORS: MC BRIDE ELDON
DANIEL KATHRYN
REGION CODE ADDRESS : 2732 47TH AVE SW
01 CITY : SEATTLE
STATE/ZIP : WA 98116
MORTGAGE AMOUNT : 274,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,114.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,872.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,614,150.00
P & I AMT: 11,170.51
UPB AMT: 1,611,396.83
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 164
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031809247 MORTGAGORS: DALRYMPLE ROGER
REGION CODE ADDRESS : 385 CHAMPION VIEW DRIVE
01 CITY : ALPHARETTA
STATE/ZIP : GA 30004
MORTGAGE AMOUNT : 432,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 431,662.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,947.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031809254 MORTGAGORS: LEATON RONALD
REGION CODE ADDRESS : 1423 BELFORD COURT
01 CITY : EVERGREEN
STATE/ZIP : CO 80439
MORTGAGE AMOUNT : 346,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 345,723.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,331.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.21700
----------------------------------------------------------------
0 0031809312 MORTGAGORS: DEGNAN ROBERT
REGION CODE ADDRESS : 8275 CIRCLE DRIVE
01 CITY : NEHALEM
STATE/ZIP : OR 97131
MORTGAGE AMOUNT : 266,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,983.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,817.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031809353 MORTGAGORS: MACGOWAN WILLIAM
MACGOWAN ANGELA
REGION CODE ADDRESS : 8484 GREENWOOD DRIVE
01 CITY : WINOT
STATE/ZIP : CO 80503
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 379,680.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,496.33 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 58.10397
----------------------------------------------------------------
0 0031809387 MORTGAGORS: DEPALMA JOHN
DEPALMA SUSAN
REGION CODE ADDRESS : 6147 WOOD CREEK
01 CITY : JUPITER
STATE/ZIP : FL 33458
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,808.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,616.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,664,400.00
P & I AMT: 11,208.66
UPB AMT: 1,662,858.23
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 165
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031809429 MORTGAGORS: EMERY JAMES
EMERY EDIE
REGION CODE ADDRESS : 1414 BUCKINGHAM DRIVE
01 CITY : MURFREESBORO
STATE/ZIP : TN 37129
MORTGAGE AMOUNT : 316,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,980.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,128.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031809452 MORTGAGORS: HERMAN WILLIAM
HERMAN BARBARA
REGION CODE ADDRESS : 20318 VIA OPORTO
01 CITY : YORBA LINDA
STATE/ZIP : CA 92886
MORTGAGE AMOUNT : 227,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 226,923.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,494.51 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 72.22222
----------------------------------------------------------------
0 0031809585 MORTGAGORS: BOUGETZ THOMAS
BOUGETZ JOAN
REGION CODE ADDRESS : 1632 103RD AVENUE S.E.
01 CITY : BELLEVUE
STATE/ZIP : WA 98004
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,680.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,694.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031809593 MORTGAGORS: KATO HIDEKI
KATO ETSUKO
REGION CODE ADDRESS : 10806 GAINSBORUGH ROAD
01 CITY : POTOMAC
STATE/ZIP : MD 20854
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,778.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,734.30 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031809601 MORTGAGORS: NELSON LORETTA
BAILEY PETER
REGION CODE ADDRESS : 21424 NORTHEAST 159TH STREET
01 CITY : WOODINVILLE
STATE/ZIP : WA 98072
MORTGAGE AMOUNT : 344,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 344,667.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,294.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 70.40500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,552,450.00
P & I AMT: 10,347.62
UPB AMT: 1,550,029.08
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 166
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031809619 MORTGAGORS: CLARK WALTER
CLARK JEAN
REGION CODE ADDRESS : 6735 POLO DRIVE
01 CITY : CUMMING
STATE/ZIP : GA 30040
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,760.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,021.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 70.58800
----------------------------------------------------------------
0 0031809684 MORTGAGORS: MUSHEL JOSEPH
MUSHEL LISA
REGION CODE ADDRESS : 4408 92ND AVENUE NORTHEAST
01 CITY : BELLEVUE
STATE/ZIP : WA 98004
MORTGAGE AMOUNT : 435,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 434,535.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,005.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031809742 MORTGAGORS: BRINGHAM ROBERT
BRINGHAM JOANNE
REGION CODE ADDRESS : 1201 SNOWDEN FARMS COVE
01 CITY : COLLIERVILLE
STATE/ZIP : TN 38017
MORTGAGE AMOUNT : 425,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 425,267.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,903.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031809759 MORTGAGORS: KEMP TODD
KEMP JEAN
REGION CODE ADDRESS : 7915 LEWINSVILLE ROAD
01 CITY : MC LEAN
STATE/ZIP : VA 22102
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,763.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,916.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031809767 MORTGAGORS: DUNNING KYLE
DUNNING HOLLY
REGION CODE ADDRESS : 4635 NE ELLIOT CIRCLE
01 CITY : CORVALLIS
STATE/ZIP : OR 97330
MORTGAGE AMOUNT : 516,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 515,566.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,389.76 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,964,800.00
P & I AMT: 13,236.17
UPB AMT: 1,962,894.15
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 167
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031809775 MORTGAGORS: DOUVAS GEORGE
DOUVAS HILDA
REGION CODE ADDRESS : 280 SOUTH VIA MONTANERA
01 CITY : ANAHEIM
STATE/ZIP : CA 92807
MORTGAGE AMOUNT : 399,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 398,888.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,723.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031809791 MORTGAGORS: JACKSON JEFFREY
MOSES SANDRA
REGION CODE ADDRESS : 905 VENTURA AVENUE
01 CITY : ALBANY
STATE/ZIP : CA 94707
MORTGAGE AMOUNT : 319,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,085.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,261.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.88700
----------------------------------------------------------------
0 0031809841 MORTGAGORS: MARR STEPHEN
MARR RAYNE
REGION CODE ADDRESS : 156 COUNTRY ESTATES TERRACE
01 CITY : BONNY DOON
STATE/ZIP : CA 95060
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,422.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,425.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031809858 MORTGAGORS: ELSTON STEVEN
ELSTON SUNNY
REGION CODE ADDRESS : 1623 109TH AVENUE NORTHEAST
01 CITY : BELLEVUE
STATE/ZIP : WA 98004
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,531.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,896.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 67.05800
----------------------------------------------------------------
0 0031809866 MORTGAGORS: CLARK THOMAS
CLARK SUSAN
REGION CODE ADDRESS : 3210 TAYLOR ROAD
01 CITY : CENTRAL POINT
STATE/ZIP : OR 97502
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,797.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,773.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,623,750.00
P & I AMT: 11,080.18
UPB AMT: 1,621,725.64
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 168
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031809882 MORTGAGORS: MILLER DANIEL
MILLER CHERYL
REGION CODE ADDRESS : 9718 SE WYNDHAM WAY
01 CITY : PORTLAND
STATE/ZIP : OR 97266
MORTGAGE AMOUNT : 324,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,124.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,215.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99500
----------------------------------------------------------------
0 0031810179 MORTGAGORS: BURDGE PHILLIP
BURDGE KATHLEEN
REGION CODE ADDRESS : 8825 SPARREN WAY
01 CITY : SAN DIEGO
STATE/ZIP : CA 92129
MORTGAGE AMOUNT : 283,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,100.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,979.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031810914 MORTGAGORS: SCHACHTER CARL
SCHACHTER STEPHANIE
REGION CODE ADDRESS : 2630 DEBBIE PLACE
01 CITY : SAN CARLOS
STATE/ZIP : CA 94070
MORTGAGE AMOUNT : 268,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,833.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 50.24200
----------------------------------------------------------------
0 0031811235 MORTGAGORS: AREA JEFFREY
AREA CYNDE
REGION CODE ADDRESS : 36355 INDIAN WELLS DRIVE
01 CITY : NEWARK
STATE/ZIP : CA 94560
MORTGAGE AMOUNT : 241,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,107.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,625.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031811391 MORTGAGORS: ANTLER HARLAN
ANTLER VANIA
REGION CODE ADDRESS : 5072 CHELSHIRE DOWNS ROAD
01 CITY : GRANITE BAY
STATE/ZIP : CA 95746
MORTGAGE AMOUNT : 307,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,095.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,425,100.00
P & I AMT: 9,749.53
UPB AMT: 1,424,331.24
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 169
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031811417 MORTGAGORS: LAU JOHN
CHUNG IVY
REGION CODE ADDRESS : 153 INVERNESS DRIVE
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94132
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,782.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,832.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031811433 MORTGAGORS: FOX DONALD
FOX COLLEEN
REGION CODE ADDRESS : 780 SOUTH FAIRWAY LANE
01 CITY : ANAHEIM
STATE/ZIP : CA 92807
MORTGAGE AMOUNT : 299,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,550.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,120.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.88000
----------------------------------------------------------------
0 0031811896 MORTGAGORS: MICHIE DAVID
MICHIE KIMBERLY
REGION CODE ADDRESS : 333 SUN VALLEY DRIVE
01 CITY : AMBLER
STATE/ZIP : PA 19002
MORTGAGE AMOUNT : 278,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,946.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.85500
----------------------------------------------------------------
0 0031813181 MORTGAGORS: DAVIS ERIC
DAVIS MARY
REGION CODE ADDRESS : 963 CAMBRIDGE AVENUE
01 CITY : SUNNYVALE
STATE/ZIP : CA 94087
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,744.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,155.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031813223 MORTGAGORS: BEARDSLEY JED
BEARDSLEY DORIS
REGION CODE ADDRESS : 4681 OUTER BANK DRIVE
01 CITY : NORCROSS
STATE/ZIP : GA 30092
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,539.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,862.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,449,950.00
P & I AMT: 9,918.08
UPB AMT: 1,449,016.22
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 170
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031813306 MORTGAGORS: SANDERS JAY
SANDERS SANDRA
REGION CODE ADDRESS : 1450 VANESSA CIRCLE
01 CITY : ENCINITAS
STATE/ZIP : CA 92024
MORTGAGE AMOUNT : 235,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,821.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,623.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 65.27700
----------------------------------------------------------------
0 0031813322 MORTGAGORS: EDGECOMBE SCOTT
EDGECOMBE JILL
REGION CODE ADDRESS : 1401 TUGALOO DRIVE
01 CITY : ATLANTA
STATE/ZIP : GA 30319
MORTGAGE AMOUNT : 241,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,088.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,685.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 58.78000
----------------------------------------------------------------
0 0031813355 MORTGAGORS: HATHAWAY BRETT
HATHAWAY VALERIE
REGION CODE ADDRESS : 2724 WEST NEWELL AVENUE
01 CITY : WALNUT CREEK
STATE/ZIP : CA 94595
MORTGAGE AMOUNT : 243,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,010.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,659.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031813363 MORTGAGORS: VU CHUONG
DANG CHRISTINE
REGION CODE ADDRESS : 216 HAMPTON AVENUE
01 CITY : MONTEREY PARK
STATE/ZIP : CA 91754
MORTGAGE AMOUNT : 276,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,784.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,882.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031813371 MORTGAGORS: SILVA EDUARDO
REGION CODE ADDRESS : 15825 SW 82 COURT
01 CITY : MIAMI
STATE/ZIP : FL 33157
MORTGAGE AMOUNT : 276,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 276,539.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,911.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.40800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,271,950.00
P & I AMT: 8,761.52
UPB AMT: 1,270,244.30
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 171
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031813405 MORTGAGORS: COOKE LAURENCE
COOKE DIANE
REGION CODE ADDRESS : 25399 SPANISH RANCH ROAD
01 CITY : LOS GATOS
STATE/ZIP : CA 95030
MORTGAGE AMOUNT : 372,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 372,459.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,542.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.80200
----------------------------------------------------------------
0 0031813413 MORTGAGORS: VALDEZ ANGEL
VALDEZ LANI
REGION CODE ADDRESS : 3605 SOUTH DOVER COURT
01 CITY : ROWLAND HEIGHTS AREA
STATE/ZIP : CA 91748
MORTGAGE AMOUNT : 289,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 288,974.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,972.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 70.02400
----------------------------------------------------------------
0 0031813421 MORTGAGORS: MERCHANT ASLAM-SAM
REGION CODE ADDRESS : 7710 ST. MARLO COUNTRY CLUB PW
01 CITY : DULUTH
STATE/ZIP : GA 30097
MORTGAGE AMOUNT : 368,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 367,712.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,510.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031813439 MORTGAGORS: TALAJIA JAYANT
REGION CODE ADDRESS : 902 CERA DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95129
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,769.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,940.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031813447 MORTGAGORS: CRAWFORD BERNARD
REGION CODE ADDRESS : 138 BRENTON COURT
01 CITY : MOUNTAIN VIEW
STATE/ZIP : CA 94040
MORTGAGE AMOUNT : 464,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 463,664.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,284.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,781,950.00
P & I AMT: 12,250.54
UPB AMT: 1,780,580.40
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 172
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031813462 MORTGAGORS: JONCKERS ROBERT
JONCKERS BARBARA
REGION CODE ADDRESS : 1527 FORD AVENUE
01 CITY : REDONDO BEACH
STATE/ZIP : CA 90278
MORTGAGE AMOUNT : 269,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,816.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031813488 MORTGAGORS: PERRY GLENN
REGION CODE ADDRESS : 2000 TRINITY ROAD
01 CITY : GLEN ELLEN
STATE/ZIP : CA 95442
MORTGAGE AMOUNT : 286,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,232.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,978.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 85.00000
----------------------------------------------------------------
0 0031813496 MORTGAGORS: MEGERT DAVID
REGION CODE ADDRESS : 6381 DEL PASO AVENUE
01 CITY : SAN DEIGO
STATE/ZIP : CA 92120
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,808.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,948.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031813512 MORTGAGORS: MISHRA YATISH
MARQUEZ ROSA
REGION CODE ADDRESS : 1280 LENNON WAY
01 CITY : SAN JOSE
STATE/ZIP : CA 95125
MORTGAGE AMOUNT : 376,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 376,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,661.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 76.73400
----------------------------------------------------------------
0 0031813546 MORTGAGORS: RANGEL MOSES
RANGEL ALEICIA
REGION CODE ADDRESS : 3607 TULARE COURT
01 CITY : OCEANSIDE
STATE/ZIP : CA 92056
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,790.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,703.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,460,050.00
P & I AMT: 10,107.91
UPB AMT: 1,459,430.22
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 173
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031813603 MORTGAGORS: CALUFETTI LARRY
REGION CODE ADDRESS : 24 MINNETONKA ROAD
01 CITY : FORT LAUDERDALE,
STATE/ZIP : FL 33308
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,175.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,922.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 73.33300
----------------------------------------------------------------
0 0031813645 MORTGAGORS: DE LA CRUZ FAUSTO
REGION CODE ADDRESS : 13076 MAJESTIC WAY
01 CITY : COOPER CITY
STATE/ZIP : FL 33330
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,595.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,576.63 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 67.98800
----------------------------------------------------------------
0 0031813678 MORTGAGORS: SCHLEIGH THOMAS
SCHLEIGH DORIS
REGION CODE ADDRESS : 1990 WOODS RIVER LANE
01 CITY : DULUTH
STATE/ZIP : GA 30097
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,788.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,536.75 OUTSIDE CONV DATE :
LIFETIME RATE : 6.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031813702 MORTGAGORS: WELLS JOHN
WELLS CORINNE
REGION CODE ADDRESS : 5422 PEGAMORE CREEK COURT
01 CITY : POWDER SPRINGS
STATE/ZIP : GA 30127
MORTGAGE AMOUNT : 255,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,030.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,718.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0031813736 MORTGAGORS: CHENGER JOSEPH
CHENGER PATRICIA
REGION CODE ADDRESS : 210 WILSONIA AVENUE
01 CITY : NASHVILLE
STATE/ZIP : TN 37205
MORTGAGE AMOUNT : 386,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 385,956.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,667.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,396,350.00
P & I AMT: 9,422.62
UPB AMT: 1,393,546.08
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 174
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031813777 MORTGAGORS: GRADDY MICKEY
GRADDY CARROL
REGION CODE ADDRESS : 322 CAICOS DRIVE
01 CITY : PUNTA GORDA
STATE/ZIP : FL 33950
MORTGAGE AMOUNT : 237,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,969.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,637.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031813819 MORTGAGORS: NGO CHIEU
NGO LAN
REGION CODE ADDRESS : 1716 FUMIA COURT
01 CITY : SAN JOSE
STATE/ZIP : CA 95131
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,754.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,995.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 67.91000
----------------------------------------------------------------
0 0031814080 MORTGAGORS: SPENO JEFFREY
SPENO JENNIFER
REGION CODE ADDRESS : 8140 DEVILLE COURT
01 CITY : GILROY
STATE/ZIP : CA 95020
MORTGAGE AMOUNT : 388,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 387,689.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,614.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031814098 MORTGAGORS: QUINN STEVE
QUINN JOANN
REGION CODE ADDRESS : 16338 WEST DIABLO COURT
01 CITY : TRACY
STATE/ZIP : CA 95376
MORTGAGE AMOUNT : 279,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,776.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,879.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.40000
----------------------------------------------------------------
0 0031814445 MORTGAGORS: CAMPBELL DON
CAMPBELL CYNTHIA
REGION CODE ADDRESS : 3779 HIGHGATE
01 CITY : MUSKEGON
STATE/ZIP : MI 49441
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,612.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,817.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,464,150.00
P & I AMT: 9,945.51
UPB AMT: 1,462,803.12
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 175
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031814544 MORTGAGORS: MORA HENRY
MORA BELINDA
REGION CODE ADDRESS : 5210 EAST DANBURY ROAD
01 CITY : SCOTTSDALE
STATE/ZIP : AZ 85254
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,072.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 93.75000
----------------------------------------------------------------
0 0031814577 MORTGAGORS: GELFER SCOTT
GELFER COLLEEN
REGION CODE ADDRESS : 25632 RANGEWOOD ROAD
01 CITY : LAGUNA HILLS
STATE/ZIP : CA 92653
MORTGAGE AMOUNT : 471,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 470,641.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,253.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.83000
----------------------------------------------------------------
0 0031814817 MORTGAGORS: GAST THOMAS
GAST LORI
REGION CODE ADDRESS : 18555 LOOKOUT DRIVE
01 CITY : YORBA LINDA
STATE/ZIP : CA 92886
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 500,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,368.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 76.92300
----------------------------------------------------------------
0 0031815491 MORTGAGORS: MINAMIDE MARCIE
REGION CODE ADDRESS : 34 AUVERGNE
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92657
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,642.32 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 73.52900
----------------------------------------------------------------
0 0031815590 MORTGAGORS: VOLLRATH EGON
VOLLRATH MARGIT
REGION CODE ADDRESS : 7015 REDWOOD RETREAT ROAD
01 CITY : GILROY
STATE/ZIP : CA 95020
MORTGAGE AMOUNT : 548,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 547,622.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,973.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,069,000.00
P & I AMT: 14,309.41
UPB AMT: 2,068,264.48
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 176
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031815608 MORTGAGORS: STARLING NANCY
REGION CODE ADDRESS : 474 RANCHO SANTE FE ROAD
01 CITY : ENCINITAS
STATE/ZIP : CA 92024
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,812.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,762.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031815665 MORTGAGORS: PINKERTON JOHN
PINKERTON LORI
REGION CODE ADDRESS : 1842 POUMELE WAY
01 CITY : OCEANSIDE
STATE/ZIP : CA 92054
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,797.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,773.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031815707 MORTGAGORS: MILLS NORMAN
MILLS SONYA
REGION CODE ADDRESS : 1297 ST JOHN'S MINE ROAD
01 CITY : VALLEJO
STATE/ZIP : CA 94591
MORTGAGE AMOUNT : 368,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 367,705.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,479.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031815723 MORTGAGORS: MOLAVI MARYAM
TEHRAN HAMID
REGION CODE ADDRESS : 20 DEWBERRY
01 CITY : IRVINE
STATE/ZIP : CA 92612
MORTGAGE AMOUNT : 299,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,022.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,066.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031815731 MORTGAGORS: NASSOURA DORIS
THURMAN PETER
REGION CODE ADDRESS : 2419 GATES AVENUE, UNIT # A
01 CITY : REDONDO BEACH
STATE/ZIP : CA 90278
MORTGAGE AMOUNT : 359,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,612.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,424.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 89.97500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,539,150.00
P & I AMT: 10,506.52
UPB AMT: 1,537,950.36
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 177
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031815772 MORTGAGORS: SHULGASSER BARBARA
REGION CODE ADDRESS : 2222 6TH STREET, UNIT #C
01 CITY : SANTA MONICA
STATE/ZIP : CA 90405
MORTGAGE AMOUNT : 336,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 336,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,320.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031815798 MORTGAGORS: MINTO MARY
PORTER LAMYLE
REGION CODE ADDRESS : 416 NICHOLAS DRIVE
01 CITY : MOUNTAIN VIEW
STATE/ZIP : CA 94043
MORTGAGE AMOUNT : 259,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,642.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,750.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 54.99400
----------------------------------------------------------------
0 0031815814 MORTGAGORS: NADLER DAVID
NADLER SALLY
REGION CODE ADDRESS : 19395 WYATT ROAD
01 CITY : SONOMA
STATE/ZIP : CA 95476
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 650,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,434.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 78.78700
----------------------------------------------------------------
0 0031815848 MORTGAGORS: HERTOGHE LEO
HERTOGHE MARLENE
REGION CODE ADDRESS : 4051 PROSPECTOR ROAD
01 CITY : LOOMIS
STATE/ZIP : CA 95650
MORTGAGE AMOUNT : 276,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,800.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,953.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031815855 MORTGAGORS: EMPERO EDWARD
EMPERO TAMARA
REGION CODE ADDRESS : 1402 CALLE TOLEDO
01 CITY : SAN CLEMENTE
STATE/ZIP : CA 92672
MORTGAGE AMOUNT : 305,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 305,378.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,163.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,827,450.00
P & I AMT: 12,622.01
UPB AMT: 1,826,821.25
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 178
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031815863 MORTGAGORS: YAMADA JAMES
REGION CODE ADDRESS : 632 VALLE VISTA AVENUE
01 CITY : OAKLAND
STATE/ZIP : CA 94610
MORTGAGE AMOUNT : 281,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,030.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,918.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031815871 MORTGAGORS: EDER MARTIN
EDER CLARA
REGION CODE ADDRESS : 4581 ALHAMBRA STREET
01 CITY : SAN DIEGO
STATE/ZIP : CA 92107
MORTGAGE AMOUNT : 303,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,540.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,202.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031815921 MORTGAGORS: HALLARCES PETER
HALLARCES PRIMAVERA
REGION CODE ADDRESS : 218 MEADOWLAND DRIVE
01 CITY : MILPITAS
STATE/ZIP : CA 95035
MORTGAGE AMOUNT : 345,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 344,750.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,441.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 68.45200
----------------------------------------------------------------
0 0031815962 MORTGAGORS: RICCI ANGELO
RICCI FRANK
REGION CODE ADDRESS : 632 EAST VIEW WAY
01 CITY : REDWOOD CITY
STATE/ZIP : CA 94062
MORTGAGE AMOUNT : 365,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 364,715.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,489.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 62.93103
----------------------------------------------------------------
0 0031815970 MORTGAGORS: BURKE STEVE
REGION CODE ADDRESS : 62 LA GAVIOTA
01 CITY : PISMO BEACH
STATE/ZIP : CA 93449
MORTGAGE AMOUNT : 251,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,671.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,546,200.00
P & I AMT: 10,724.09
UPB AMT: 1,545,237.13
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 179
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031816101 MORTGAGORS: PONTHIER CHARLES
PONTHIER NANCY
REGION CODE ADDRESS : 4717 MARICOPA STREET
01 CITY : TORRANCE
STATE/ZIP : CA 90503
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,795.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,922.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.71000
----------------------------------------------------------------
0 0031816119 MORTGAGORS: BARCIKOWSKI JOHN
BARCIKOWSKI ELIZABETH
REGION CODE ADDRESS : 10703 COZYCROFT AVENUE
01 CITY : CHATSWORTH
STATE/ZIP : CA 91311
MORTGAGE AMOUNT : 336,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,744.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,320.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031816135 MORTGAGORS: MURPHY TERESA
REGION CODE ADDRESS : 1043 ANNAPOLIS DRIVE
01 CITY : SAN MATEO
STATE/ZIP : CA 94403
MORTGAGE AMOUNT : 336,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,665.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,320.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031816168 MORTGAGORS: ANTONIAN ARMAND
ANTONIAN ANNE
REGION CODE ADDRESS : 2341 HILLHURST AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90027
MORTGAGE AMOUNT : 273,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,562.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,839.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 54.60000
----------------------------------------------------------------
0 0031816200 MORTGAGORS: BELTRAN NANCY
REGION CODE ADDRESS : 3900 ALTURA AVENUE
01 CITY : GLENDALE
STATE/ZIP : CA 91214
MORTGAGE AMOUNT : 269,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,815.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,489,500.00
P & I AMT: 10,219.10
UPB AMT: 1,488,267.32
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 180
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031816242 MORTGAGORS: YEH JEN
YEH JYEHERN
REGION CODE ADDRESS : 4859 WINDHAVEN DRIVE
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91362
MORTGAGE AMOUNT : 646,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 645,520.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,516.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 50.66600
----------------------------------------------------------------
0 0031816259 MORTGAGORS: HAND DIANE
MORGAN SAMUEL
REGION CODE ADDRESS : 814 CUESTA DRIVE
01 CITY : MOUNTAIN VIEW
STATE/ZIP : CA 94040
MORTGAGE AMOUNT : 346,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 346,116.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,304.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031816267 MORTGAGORS: LIN HAISHAN
LIN JIE
REGION CODE ADDRESS : 20942 SHERMAN DRIVE
01 CITY : CASTRO VALLEY
STATE/ZIP : CA 94552
MORTGAGE AMOUNT : 258,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,665.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,695.53 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.99801
----------------------------------------------------------------
0 0031816275 MORTGAGORS: HARTSOUGH DEBORAH
REGION CODE ADDRESS : 1648 MALDEN STREET
01 CITY : SAN DIEGO
STATE/ZIP : CA 92109
MORTGAGE AMOUNT : 365,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 364,715.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,489.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 60.83300
----------------------------------------------------------------
0 0031816291 MORTGAGORS: KRISHNAMOORTHI VENKATRAM
VENKATRAM SARASWATI
REGION CODE ADDRESS : 492 CURIE DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95123
MORTGAGE AMOUNT : 307,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 306,766.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,120.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.94700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,922,500.00
P & I AMT: 13,127.40
UPB AMT: 1,920,783.37
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 181
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031816333 MORTGAGORS: FERNANDEZ ROSE
REGION CODE ADDRESS : 25204 KEATS LANE
01 CITY : STEVENSON RANCH
STATE/ZIP : CA 91381
MORTGAGE AMOUNT : 255,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,250.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,742.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 65.00000
----------------------------------------------------------------
0 0031816341 MORTGAGORS: MCDONALD RICHARD
MCDONALD JANE
REGION CODE ADDRESS : 15615 PAUMA VALLEY DRIVE
01 CITY : PAUMA VALLEY
STATE/ZIP : CA 92061
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,655.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,594.40 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 69.56500
----------------------------------------------------------------
0 0031816358 MORTGAGORS: ORTEG TIMOTHY
ORTEG TRACY
REGION CODE ADDRESS : 14428 WEST GRANDIFLORAS ROAD
01 CITY : CANYON COUNTRY
STATE/ZIP : CA 91351
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,801.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,670.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 78.73000
----------------------------------------------------------------
0 0031816366 MORTGAGORS: BECHTOL ALAN
BECHTOL KAREN
REGION CODE ADDRESS : 25501 ELDERWOOD
01 CITY : LAKE FOREST
STATE/ZIP : CA 92630
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,804.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,643.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031816382 MORTGAGORS: BYRD JOSEPH
SINGLETARY-BYRD LINDA
REGION CODE ADDRESS : 2 COPA DEL ORO
01 CITY : MONTEREY
STATE/ZIP : CA 93940
MORTGAGE AMOUNT : 498,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 497,601.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,355.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 73.88700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,645,450.00
P & I AMT: 11,006.85
UPB AMT: 1,644,114.62
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 182
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031816390 MORTGAGORS: BROWN ROBERT
REGION CODE ADDRESS : 9536 BADEN AVENUE
01 CITY : CHATSWORTH
STATE/ZIP : CA 91311
MORTGAGE AMOUNT : 353,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 352,931.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,439.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.73600
----------------------------------------------------------------
0 0031816416 MORTGAGORS: CELLI CHARLES
REGION CODE ADDRESS : 48 NORTHERN PINE LOOP
01 CITY : ALISO VIEJO
STATE/ZIP : CA 92656
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,814.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,685.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031816465 MORTGAGORS: ELLSWORTH STERLING
ELLSWORTH SARA
REGION CODE ADDRESS : 319 SALIDA DEL SOL
01 CITY : SANTA BARBARA
STATE/ZIP : CA 93101
MORTGAGE AMOUNT : 295,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,775.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,037.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 67.81600
----------------------------------------------------------------
0 0031816499 MORTGAGORS: FOSSELMAN JOHN
FOSSELMAN JILL
REGION CODE ADDRESS : 2120 LAMBERT DRIVE
01 CITY : PASADENA
STATE/ZIP : CA 91107
MORTGAGE AMOUNT : 273,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,796.71 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 89.96700
----------------------------------------------------------------
0 0031816515 MORTGAGORS: GLASS JAMES
GLASS DENISE
REGION CODE ADDRESS : 32 VIA ANDORRA
01 CITY : COTO DE CAZA
STATE/ZIP : CA 92679
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,809.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,726.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 74.62686
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,415,700.00
P & I AMT: 9,685.62
UPB AMT: 1,414,830.86
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 183
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031816531 MORTGAGORS: GORGAS GREGORY
GORGAS SANDRA
REGION CODE ADDRESS : 6552 BLUEBONNET DRIVE
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 305,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 305,167.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,109.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.32400
----------------------------------------------------------------
0 0031816556 MORTGAGORS: GREMP DAVID
GREMP JANICE
REGION CODE ADDRESS : 372 GENOA DRIVE
01 CITY : REDWOOD CITY
STATE/ZIP : CA 94065
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,766.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,896.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 77.02700
----------------------------------------------------------------
0 0031816564 MORTGAGORS: JOHNSON DAVID
JOHNSON DIANE
REGION CODE ADDRESS : 12699 FOOTMAN LANE
01 CITY : POWAY
STATE/ZIP : CA 92064
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,705.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,299.26 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.54500
----------------------------------------------------------------
0 0031816713 MORTGAGORS: DOMINGO BOBBY
DOMINGO MARIJOY
REGION CODE ADDRESS : 32781 SOUTH FOLKLORE LOOP
01 CITY : UNION CITY
STATE/ZIP : CA 94587
MORTGAGE AMOUNT : 248,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,201.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,673.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.98700
----------------------------------------------------------------
0 0031816754 MORTGAGORS: TOBABEN WILLIAM
TOBABEN TRACY
REGION CODE ADDRESS : 8320 SAN GAVILON NE
01 CITY : ALBURQUERQUE
STATE/ZIP : NM 87123
MORTGAGE AMOUNT : 244,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,150.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,665.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 94.99400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,432,950.00
P & I AMT: 9,643.77
UPB AMT: 1,431,991.30
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 184
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031816804 MORTGAGORS: GARRIDO HENRY
GARRIDO WINDY
REGION CODE ADDRESS : 8656 EAST SUNNYWALK LANE
01 CITY : ANAHEIM HILLS
STATE/ZIP : CA 92808
MORTGAGE AMOUNT : 273,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,070.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,795.39 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.89600
----------------------------------------------------------------
0 0031816812 MORTGAGORS: SILVERMAN FRANKLYN
SILVERMAN RUTH
REGION CODE ADDRESS : 1011 MADISON AVENUE
01 CITY : REDWOOD CITY
STATE/ZIP : CA 94061
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,797.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,981.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 70.88600
----------------------------------------------------------------
0 0031816838 MORTGAGORS: TRAN TUAN
TRAN NGOC
REGION CODE ADDRESS : 1363 WOODRANCH COURT
01 CITY : SAN JOSE
STATE/ZIP : CA 95131
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,819.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 61.71400
----------------------------------------------------------------
0 0031816929 MORTGAGORS: BLOCK STEVEN
BLOCK CHRISTINE
REGION CODE ADDRESS : 1138 GRAND TETON DRIVE
01 CITY : PACIFICA
STATE/ZIP : CA 94044
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,781.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,910.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 78.87300
----------------------------------------------------------------
0 0031816978 MORTGAGORS: MUMM JEFFREY
MUMM JENNIFER
REGION CODE ADDRESS : 27810 NORTH SUNFLOWER COURT
01 CITY : VALENCIA AREA
STATE/ZIP : CA 91354
MORTGAGE AMOUNT : 266,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,950.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,798.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,370,250.00
P & I AMT: 9,304.85
UPB AMT: 1,369,599.30
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 185
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031816986 MORTGAGORS: NGUYEN CHUNG
DUONG KIM
REGION CODE ADDRESS : 1704 FUMIA COURT
01 CITY : SAN JOSE
STATE/ZIP : CA 95131
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,839.41 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 68.66800
----------------------------------------------------------------
0 0031817000 MORTGAGORS: LOYET SCOTT
KAZIMI CAMILLA
REGION CODE ADDRESS : 6566 ROBINEA DRIVE
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 356,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 356,022.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,430.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.98600
----------------------------------------------------------------
0 0031817034 MORTGAGORS: CORRIGAN KATHLEEN
BELLAGAMBA RICHARD
REGION CODE ADDRESS : 738 NORTH POND COURT
01 CITY : LAFAYETTE
STATE/ZIP : CA 94549
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,793.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,676.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 65.96800
----------------------------------------------------------------
0 0031817323 MORTGAGORS: SIMON BRIAN
SIMON AMY
REGION CODE ADDRESS : 512 GREEN MOUNTAIN ST.,
01 CITY : SIMI VALLEY
STATE/ZIP : CA 93065
MORTGAGE AMOUNT : 321,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 321,499.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,194.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
0 0031818214 MORTGAGORS: LEWIS DANIEL
LEWIS ANTOINETTE
REGION CODE ADDRESS : 1147 RIMER DRIVE
01 CITY : MORAGA
STATE/ZIP : CA 94556
MORTGAGE AMOUNT : 420,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 420,471.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,870.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,630,850.00
P & I AMT: 11,012.09
UPB AMT: 1,629,786.21
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 186
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031818230 MORTGAGORS: ALLEN SAMUEL
ALLEN COLLEEN
REGION CODE ADDRESS : 11975 MARGINATA COURT
01 CITY : SAN DIEGO
STATE/ZIP : CA 92131
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,750.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,265.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031818271 MORTGAGORS: CERNIK GERALD
CERNIK CINDERELLA
REGION CODE ADDRESS : 8738 ENRAMADA AVENUE
01 CITY : WHITTIER
STATE/ZIP : CA 90605
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,731.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,182.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031818305 MORTGAGORS: NOLAN GREGG
NOLAN JACQUELYN
REGION CODE ADDRESS : 2744 CASALERO DRIVE
01 CITY : LA HABRA HEIGHTS
STATE/ZIP : CA 90631
MORTGAGE AMOUNT : 448,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 448,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,980.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031818339 MORTGAGORS: GARCIA THOMAS
GARCIA DOROTHY
REGION CODE ADDRESS : 10157 MASTERS DRIVE NE
01 CITY : ALBUQUERQUE
STATE/ZIP : NM 87111
MORTGAGE AMOUNT : 464,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 463,628.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,126.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031818495 MORTGAGORS: KNOPF THOMAS
KNOPF COLLEEN
REGION CODE ADDRESS : 19 SINALOA COURT
01 CITY : NOVATO
STATE/ZIP : CA 94947
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,756.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,210.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,888,000.00
P & I AMT: 12,764.37
UPB AMT: 1,886,867.02
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 187
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031818503 MORTGAGORS: LOGAN MICHAEL
LOGAN CAROLINE
REGION CODE ADDRESS : 721 GUILDFORD AVENUE
01 CITY : SAN MATEO
STATE/ZIP : CA 94402
MORTGAGE AMOUNT : 273,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,386.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,866.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031818511 MORTGAGORS: GOODMAN MICHAEL
GOODMAN PAMELA
REGION CODE ADDRESS : 3510 CUESTA COURT
01 CITY : SAN JOSE
STATE/ZIP : CA 95148
MORTGAGE AMOUNT : 258,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,182.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,697.50 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031818529 MORTGAGORS: ESCOBAR JERRY
ESCOBAR ANN
REGION CODE ADDRESS : 729 COLLEGE AVENUE
01 CITY : SANTA CLARA
STATE/ZIP : CA 95050
MORTGAGE AMOUNT : 331,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 330,941.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,259.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031818545 MORTGAGORS: QUILLIN BRUCE
QUILLIN ANNE
REGION CODE ADDRESS : 5601 GREEN MEADOWS STREET
01 CITY : TORRANCE
STATE/ZIP : CA 90505
MORTGAGE AMOUNT : 384,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 383,707.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,652.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031818826 MORTGAGORS: PRIBONIC EDWARD
PRIBONIC ANDREA
REGION CODE ADDRESS : 4825 HAZELNUT AVENUE
01 CITY : SEAL BEACH
STATE/ZIP : CA 90740
MORTGAGE AMOUNT : 416,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 415,698.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,944.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,663,200.00
P & I AMT: 11,419.91
UPB AMT: 1,661,917.84
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 188
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031818867 MORTGAGORS: PEPPER GERALD
PEPPER JACQUELINE
REGION CODE ADDRESS : 12434 NW 63RD STREET
01 CITY : CORAL SPRINGS
STATE/ZIP : FL 33076
MORTGAGE AMOUNT : 266,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,788.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,839.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031818891 MORTGAGORS: ARAICO ENRIQUE
ARAICO SONJA
REGION CODE ADDRESS : 1360 BRIGHTWATERS BOULEVARD NE
01 CITY : ST PETERSBURG
STATE/ZIP : FL 33704
MORTGAGE AMOUNT : 294,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 293,770.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,005.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0031818925 MORTGAGORS: MESSA SUZETTE
MESSA DARBY
REGION CODE ADDRESS : 420 SYCAMORE AVENUE
01 CITY : BEN LOMOND
STATE/ZIP : CA 95005
MORTGAGE AMOUNT : 278,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,872.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,850.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031819097 MORTGAGORS: SIU SAMMY
SIU SYLVIA
REGION CODE ADDRESS : 817 HAWTHORNE WAY
01 CITY : MILLBRAE
STATE/ZIP : CA 94030
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,417.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 72.91600
----------------------------------------------------------------
0 0031819154 MORTGAGORS: KIRCHNER GILBERT
DO KIMTHUY
REGION CODE ADDRESS : 611 SEACLIFF DRIVE
01 CITY : APTOS
STATE/ZIP : CA 95003
MORTGAGE AMOUNT : 430,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 430,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,969.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 65.34900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,618,500.00
P & I AMT: 11,083.05
UPB AMT: 1,617,430.81
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 189
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031820947 MORTGAGORS: HOFFMAN ROBERT
HOFFMAN SHARLON
REGION CODE ADDRESS : 6272 MYRTLE DRIVE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92647
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 308,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,075.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031821036 MORTGAGORS: BURNS MICHAEL
ABE ERIN
REGION CODE ADDRESS : 24 VIA NOVA
01 CITY : LAGUNA HILLS
STATE/ZIP : CA 92653
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,819.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031821119 MORTGAGORS: SIEMONS JAMES
SIEMONS MISA
REGION CODE ADDRESS : 5348 WILDROSE COURT
01 CITY : CONCORD
STATE/ZIP : CA 94521
MORTGAGE AMOUNT : 289,955.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,955.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,978.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 65.99900
----------------------------------------------------------------
0 0031821408 MORTGAGORS: ROLPH BRUCE
ROLPH MARILYN
REGION CODE ADDRESS : 2522 WEST BEECHWOOD AVENUE
01 CITY : FRESNO
STATE/ZIP : CA 93711
MORTGAGE AMOUNT : 288,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 288,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,871.86 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031823297 MORTGAGORS: CHEUNG DONALD
CHEUNG LINCHUAN
REGION CODE ADDRESS : 2129 LOCKWOOD AVENUE
01 CITY : FREMONT
STATE/ZIP : CA 94539
MORTGAGE AMOUNT : 263,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,789.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,771.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.93900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,419,555.00
P & I AMT: 9,515.85
UPB AMT: 1,419,344.68
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 190
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031823313 MORTGAGORS: WILLIAMS-SMITH RENEE
SMITH DOUGLAS
REGION CODE ADDRESS : 222-224 30TH STREET
01 CITY : HERMOSA BEACH
STATE/ZIP : CA 90254
MORTGAGE AMOUNT : 426,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 426,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,834.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 67.61900
----------------------------------------------------------------
0 0031823321 MORTGAGORS: HOMOLKA LAURENCE
REGION CODE ADDRESS : 1047 LAS PULGAS ROAD
01 CITY : PACIFIC PALISADES (AREA)
STATE/ZIP : CA 90272
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 650,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,324.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 67.70800
----------------------------------------------------------------
0 0031823438 MORTGAGORS: BARTON CHERYL
REGION CODE ADDRESS : 563 BELVEDERE STREET
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94117
MORTGAGE AMOUNT : 257,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,775.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 67.63100
----------------------------------------------------------------
0 0031823479 MORTGAGORS: FIVELLA KENRIC
FIVELLA BILLIE
REGION CODE ADDRESS : 1011 BRIONES ROAD
01 CITY : MARTINEZ
STATE/ZIP : CA 94553
MORTGAGE AMOUNT : 272,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,700.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,883.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.70200
----------------------------------------------------------------
0 0031824030 MORTGAGORS: STRZEMIENSKI STEPHAN
STRZEMIENSKI ROBIN
REGION CODE ADDRESS : 7405 CARATH COURT
01 CITY : SPRINGFIELD
STATE/ZIP : VA 22153
MORTGAGE AMOUNT : 270,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,558.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,939.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,876,450.00
P & I AMT: 12,756.87
UPB AMT: 1,876,258.90
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 191
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031824055 MORTGAGORS: SEGAL WILLIAM
SEGAL LEIGH
REGION CODE ADDRESS : 38 FAIRWAY DRIVE
01 CITY : PRINCETON
STATE/ZIP : NJ 08540
MORTGAGE AMOUNT : 420,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 420,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,936.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031825409 MORTGAGORS: HOFFMAN EDWIN
REGION CODE ADDRESS : 25280 PICO VISTA WAY
01 CITY : MORENO VALLEY
STATE/ZIP : CA 92557
MORTGAGE AMOUNT : 242,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,250.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,714.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031825417 MORTGAGORS: JAGER WILLIAM
JAGER SHERILYN
REGION CODE ADDRESS : 115 LUCIA LANE
01 CITY : SCOTTS VALLEY
STATE/ZIP : CA 95066
MORTGAGE AMOUNT : 388,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 388,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,581.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031825466 MORTGAGORS: PADILLA BENNIE
PADILLA PATRICIA
REGION CODE ADDRESS : 2694 ELLIOT STREET
01 CITY : SANTA CLARA
STATE/ZIP : CA 95051
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,944.51 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031825490 MORTGAGORS: LENHOFF STEVEN
LENHOFF CARLA
REGION CODE ADDRESS : 3205 BERRY DRIVE
01 CITY : STUDIO CITY
STATE/ZIP : CA 91604
MORTGAGE AMOUNT : 476,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 476,250.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,330.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,822,500.00
P & I AMT: 12,507.23
UPB AMT: 1,822,500.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 192
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031825524 MORTGAGORS: BURICH PAUL
BURICH SHARON
REGION CODE ADDRESS : 2285 LACEY DRIVE
01 CITY : MILIPITAS
STATE/ZIP : CA 95035
MORTGAGE AMOUNT : 276,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 276,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,882.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031825532 MORTGAGORS: WATTS BERTHA
REGION CODE ADDRESS : 1740 TATTENHAM ROAD
01 CITY : ENCINITAS
STATE/ZIP : CA 92024
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 308,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,127.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 57.57000
----------------------------------------------------------------
0 0031825565 MORTGAGORS: CIANO DINO
CIANO KERRIE
REGION CODE ADDRESS : 310 & 312 COSTA MESA STREET
01 CITY : COSTA MESA
STATE/ZIP : CA 92627
MORTGAGE AMOUNT : 395,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 395,100.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,695.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031825805 MORTGAGORS: HEWITT FRED
HEWITT BETTY
REGION CODE ADDRESS : 5438 SHANNON DRIVE
01 CITY : YORBA LINDA
STATE/ZIP : CA 92686
MORTGAGE AMOUNT : 429,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 428,648.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,854.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.88800
----------------------------------------------------------------
0 0031825821 MORTGAGORS: BARTELS TONY
BARTLES HELENE
REGION CODE ADDRESS : 30642 RIGGER ROAD
01 CITY : AGOURA HILLS
STATE/ZIP : CA 91301
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,819.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,769.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.87200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,658,100.00
P & I AMT: 11,329.00
UPB AMT: 1,657,567.41
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 193
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031825854 MORTGAGORS: COOLEY RODNEY
YOKOTA ALICE
REGION CODE ADDRESS : 4652 CONCHITA WAY
01 CITY : LOS ANGELES
STATE/ZIP : CA 91356
MORTGAGE AMOUNT : 355,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 354,709.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,361.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 71.00000
----------------------------------------------------------------
0 0031826837 MORTGAGORS: AMARANTE ROBERT
REGION CODE ADDRESS : 155 FARALLON COURT
01 CITY : APTOS
STATE/ZIP : CA 95003
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,942.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031826910 MORTGAGORS: PELTIER WARREN
PELTIER LESLIE
REGION CODE ADDRESS : 16 MYKONOS
01 CITY : LAGUNA NIGUEL
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 331,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,234.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031827124 MORTGAGORS: OWENS GEORGE
OWENS NANCY
REGION CODE ADDRESS : 104 BERYL LANE
01 CITY : APTOS
STATE/ZIP : CA 95003
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,769.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,940.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031827140 MORTGAGORS: CURTIS TERRY
CURTIS LORNA
REGION CODE ADDRESS : 11675 CYPRESS CANYON RD.
01 CITY : SAN DIEGO
STATE/ZIP : CA 92131
MORTGAGE AMOUNT : 351,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 351,382.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,428.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,618,250.00
P & I AMT: 10,907.62
UPB AMT: 1,617,461.12
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 194
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031827314 MORTGAGORS: CORDERO EDUARDO
CORDERO MIRASOL
REGION CODE ADDRESS : 2104 SUNSPRITE DRIVE
01 CITY : UNION CITY
STATE/ZIP : CA 94587
MORTGAGE AMOUNT : 331,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,284.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,233.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99000
----------------------------------------------------------------
0 0031827355 MORTGAGORS: HO PAK-NIN
CHI TERESA
REGION CODE ADDRESS : 2125 SUNSPRITE DRIVE
01 CITY : UNION CITY
STATE/ZIP : CA 94587
MORTGAGE AMOUNT : 330,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 329,722.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,167.87 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 74.61200
----------------------------------------------------------------
0 0031827371 MORTGAGORS: ANDERSON CARL
ANDERSON ADRIANA
REGION CODE ADDRESS : 32756 SOUTH FOLKLORE LOOP
01 CITY : UNION CITY
STATE/ZIP : CA 94587
MORTGAGE AMOUNT : 286,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,952.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.98000
----------------------------------------------------------------
0 0031827397 MORTGAGORS: BERENSTEIN JACK
BERENSTEIN MELISSA
REGION CODE ADDRESS : 3272 PAGENT COURT
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91360
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,685.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031827728 MORTGAGORS: QUISQUINO JOSELINO
QUISQUINO JOYCE
REGION CODE ADDRESS : 9160 WREN AVENUE
01 CITY : GILROY
STATE/ZIP : CA 95020
MORTGAGE AMOUNT : 334,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 334,268.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,197.76 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 94.98999
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,526,300.00
P & I AMT: 10,236.99
UPB AMT: 1,525,476.55
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 195
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031827900 MORTGAGORS: SMALLRIDGE DAAVID
SMALLRIDGE KAREN
REGION CODE ADDRESS : 2424 LAURA LANE,
01 CITY : MOUNTAIN VIEW,
STATE/ZIP : CA 94043
MORTGAGE AMOUNT : 319,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,123.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031829237 MORTGAGORS: GODOWN MARK
GODOWN JENNIFER
REGION CODE ADDRESS : 731 NORTH ZIEGLER WAY
01 CITY : PLACENTIA
STATE/ZIP : CA 92870
MORTGAGE AMOUNT : 254,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,757.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.30700
----------------------------------------------------------------
0 0031829435 MORTGAGORS: MARSHALL THERESA
MARSHALL DAVID
REGION CODE ADDRESS : 1170 MASON DRIVE
01 CITY : PACIFICA
STATE/ZIP : CA 94044
MORTGAGE AMOUNT : 301,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,859.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,028.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 77.20500
----------------------------------------------------------------
0 0031829484 MORTGAGORS: DEOVLET MICHAEL
REGION CODE ADDRESS : 18592 CALLENS CIRCLE,
01 CITY : FOUNTAIN VALLEY,
STATE/ZIP : CA 92708
MORTGAGE AMOUNT : 305,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 305,100.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,081.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031829609 MORTGAGORS: SACKS GREGORY
SACKS DARYL
REGION CODE ADDRESS : 3497 CAMINO CORTE
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,887.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 65.15300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,449,900.00
P & I AMT: 9,879.19
UPB AMT: 1,449,659.21
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 196
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031829740 MORTGAGORS: PARKER CHARLES
PARKER ALICE
REGION CODE ADDRESS : 4039 SPRING LAKE BLVD
01 CITY : ANN ARBOR
STATE/ZIP : MI 48108
MORTGAGE AMOUNT : 263,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,107.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,842.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 70.26600
----------------------------------------------------------------
0 0031829815 MORTGAGORS: STATSON SCOTT
STATSON KIMBERLY
REGION CODE ADDRESS : 10136 MAPLE RD
01 CITY : DAVISON
STATE/ZIP : MI 48423
MORTGAGE AMOUNT : 464,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 463,309.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,244.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 68.74000
----------------------------------------------------------------
0 0031830029 MORTGAGORS: LIN JINYUN
WANG RONG
REGION CODE ADDRESS : 32748 SOUTH FOLKLORE LOOP
01 CITY : UNION CITY
STATE/ZIP : CA 94587
MORTGAGE AMOUNT : 254,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,150.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,733.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.97600
----------------------------------------------------------------
0 0031830037 MORTGAGORS: LOPEZ FRANCISCO
LOPEZ VERONICA
REGION CODE ADDRESS : 32667 FOXGLOVE WAY
01 CITY : UNION CITY
STATE/ZIP : CA 94587
MORTGAGE AMOUNT : 351,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 351,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,280.48 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 79.98100
----------------------------------------------------------------
0 0031830052 MORTGAGORS: POCKLINGTON JAMES
POCKLINGTON CYNTHIA
REGION CODE ADDRESS : 136 ST PIERRE WAY
01 CITY : MARTINEZ
STATE/ZIP : CA 94553
MORTGAGE AMOUNT : 293,260.00 OPTION TO CONVERT :
UNPAID BALANCE : 293,036.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,025.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,626,510.00
P & I AMT: 11,126.51
UPB AMT: 1,625,203.65
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 197
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031830086 MORTGAGORS: ANCHETA VICKY
ANCHETA ALFONSO
REGION CODE ADDRESS : 1430 BRIARBERRY LANE
01 CITY : GILROY
STATE/ZIP : CA 95020
MORTGAGE AMOUNT : 277,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,360.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,800.51 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031830193 MORTGAGORS: HALLIWELL JANET
REGION CODE ADDRESS : 401 SHEA LANE
01 CITY : LONG BEACH
STATE/ZIP : CA 90803
MORTGAGE AMOUNT : 310,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 310,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,118.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031830201 MORTGAGORS: PRESIADO LEO
PRESIADO MICHELLE
REGION CODE ADDRESS : 20 MOUNTAIN VIEW
01 CITY : IRVINE
STATE/ZIP : CA 92612
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,992.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 77.02702
----------------------------------------------------------------
0 0031830284 MORTGAGORS: KING GREGORY
KING DIANE
REGION CODE ADDRESS : 5 LONE OAK COURT
01 CITY : PETALUMA
STATE/ZIP : CA 94952
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,021.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031830326 MORTGAGORS: KUBOKAWA GLEN
KUBOKAWA SANDRA
REGION CODE ADDRESS : 1952 WEST 235TH STREET
01 CITY : TORRANCE
STATE/ZIP : CA 90501
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,643.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 77.70700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,417,100.00
P & I AMT: 9,576.47
UPB AMT: 1,416,860.99
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 198
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031830359 MORTGAGORS: BAILEY BRADLEY
BAILEY DONNA
REGION CODE ADDRESS : 15892 BOWIE STREET
01 CITY : WESTMINSTER
STATE/ZIP : CA 92683
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,828.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031831340 MORTGAGORS: SNYDER LARRY
SNYDER ANDREA
REGION CODE ADDRESS : 58 DORIS CIRCLE
01 CITY : HOLLISTER
STATE/ZIP : CA 95023
MORTGAGE AMOUNT : 306,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 306,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,066.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031831761 MORTGAGORS: JOHNSON PATRICK
JOHNSON MICHIKO
REGION CODE ADDRESS : 11690 CYPRESS CANYON ROAD
01 CITY : SAN DIEGO
STATE/ZIP : CA 92131
MORTGAGE AMOUNT : 313,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 313,492.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,087.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.98900
----------------------------------------------------------------
0 0031833312 MORTGAGORS: SANTIAGO CARLITO
SANTIAGO ZENAIDA
REGION CODE ADDRESS : 2526 AMETHYST DRIVE
01 CITY : SANTA CLARA
STATE/ZIP : CA 95051
MORTGAGE AMOUNT : 246,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,636.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 94.98000
----------------------------------------------------------------
0 0031835754 MORTGAGORS: STOKES PETER
STOKES LORI
REGION CODE ADDRESS : 90 MONTCLAIRE
01 CITY : FREMONT
STATE/ZIP : CA 94539
MORTGAGE AMOUNT : 578,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 578,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,992.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 60.84200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,712,500.00
P & I AMT: 11,610.99
UPB AMT: 1,712,242.82
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 199
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070107784 MORTGAGORS: THOMPSON DONALD
THOMPSON MATILDA
REGION CODE ADDRESS : 139 BARBER AVENUE
01 CITY : SAN ANSELMO
STATE/ZIP : CA 94960
MORTGAGE AMOUNT : 398,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 398,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,719.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.07957
----------------------------------------------------------------
0 0070125281 MORTGAGORS: FORBES WILLIAM
FORBES BONNEY
REGION CODE ADDRESS : 1188 WEAVER DRIVE
01 CITY : BOULDER
STATE/ZIP : CO 80302
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 60.00000
----------------------------------------------------------------
0 0070151899 MORTGAGORS: GILKYSON NANCY
REGION CODE ADDRESS : 2159 PINE CREST DRIVE
01 CITY : ALTADENA
STATE/ZIP : CA 91001
MORTGAGE AMOUNT : 535,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 535,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,740.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 71.33333
----------------------------------------------------------------
0 0070222831 MORTGAGORS: BOGER DAVID
BOGER SANDRA
REGION CODE ADDRESS : 713 SHORE ROAD
01 CITY : HEBER SPRIN
STATE/ZIP : AR 72543
MORTGAGE AMOUNT : 480,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 480,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,356.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.76636
----------------------------------------------------------------
0 0070228978 MORTGAGORS: SHAPIRO TODD
SHAPIRO DIANE
REGION CODE ADDRESS : 617 BARINGTON PLACE
01 CITY : MATTHEWS
STATE/ZIP : NC 28105
MORTGAGE AMOUNT : 251,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,755.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 69.72222
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,964,600.00
P & I AMT: 13,668.85
UPB AMT: 1,964,600.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 200
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070232392 MORTGAGORS: BANTON MARVIN
BANTON DIANE
REGION CODE ADDRESS : 14004 MOUNTIAN ROAD
01 CITY : PURCELLVILL
STATE/ZIP : VA 22132
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,811.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 85.33333
----------------------------------------------------------------
0 0070237177 MORTGAGORS: OLSON ROBERT
OLSON RENEE
REGION CODE ADDRESS : 10774 EAST SUGAR CREEK
01 CITY : APACHE JUNC
STATE/ZIP : AZ 85219
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,899.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.33333
----------------------------------------------------------------
0 0070241880 MORTGAGORS: ZULUETA PHILLIP
ZULUETA BARBARA
REGION CODE ADDRESS : 26792 VIA ALCALA
01 CITY : MISSION VIE
STATE/ZIP : CA 92691
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,922.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.94186
----------------------------------------------------------------
0 0070247267 MORTGAGORS: WHITE MARK
WHITE JAMESETTA
REGION CODE ADDRESS : 2703 SOUTH NELSON COURT
01 CITY : LAKEWOOD
STATE/ZIP : CO 80227
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,271.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,027.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 73.60406
----------------------------------------------------------------
0 0070252143 MORTGAGORS: BOHLENDER MILO
BOHLENDER GWEN
REGION CODE ADDRESS : 8876 NORTH COUNTY ROAD
01 CITY : FORT COLLIN
STATE/ZIP : CO 80524
MORTGAGE AMOUNT : 492,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 492,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,485.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 78.17460
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,588,500.00
P & I AMT: 11,147.75
UPB AMT: 1,587,771.14
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 201
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070270509 MORTGAGORS: PANDYA SUKETU
PANDYA AMITA
REGION CODE ADDRESS : 26272 CANNES CIRCLE
01 CITY : MISSION VIE
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 307,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,071.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0070277611 MORTGAGORS: GOLDSTEIN ERIC
REGION CODE ADDRESS : 40 W. 84TH STREET #5B
01 CITY : New York
STATE/ZIP : NY 10024
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,748.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 61.73000
----------------------------------------------------------------
0 0070285689 MORTGAGORS: ROTHKOPF HENRY
SMIGEN ROTHK SHEILAGH
REGION CODE ADDRESS : 611 PERSHING DRIVE
01 CITY : SILVER SPRI
STATE/ZIP : MD 20910
MORTGAGE AMOUNT : 246,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,150.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,679.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 78.14286
----------------------------------------------------------------
0 0070286109 MORTGAGORS: BERTHOUD WILLIAM
BERTHOUD KRISTEN
REGION CODE ADDRESS : 292 STOW ROAD
01 CITY : HARVARD
STATE/ZIP : MA 01451
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,514.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,891.95 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070286729 MORTGAGORS: HAGENBUCH ALAN
HAGENBUCH JOANN
REGION CODE ADDRESS : 545 TULLAMORE WAY
01 CITY : ALPHARETTA
STATE/ZIP : GA 30201
MORTGAGE AMOUNT : 388,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 387,954.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,681.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 60.47508
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,479,900.00
P & I AMT: 10,072.40
UPB AMT: 1,479,119.28
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 202
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070302252 MORTGAGORS: LASKEY GERALD
REGION CODE ADDRESS : 51 FIFTH AVENUE
01 CITY : New York
STATE/ZIP : NY 10003
MORTGAGE AMOUNT : 355,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 355,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,482.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 44.38000
----------------------------------------------------------------
0 0070302849 MORTGAGORS: GILLEN STEPHEN
GILLEN KATHLEEN
REGION CODE ADDRESS : 2 FAWN HILL RUN
01 CITY : KINNELON
STATE/ZIP : NJ 07405
MORTGAGE AMOUNT : 362,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 362,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,500.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 65.81818
----------------------------------------------------------------
0 0070303128 MORTGAGORS: ROBINSON HELENE
REGION CODE ADDRESS : 2298 NORTHWEST 60TH STREET
01 CITY : BOCA RATON
STATE/ZIP : FL 33496
MORTGAGE AMOUNT : 381,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 380,710.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,631.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 71.88679
----------------------------------------------------------------
0 0070307285 MORTGAGORS: BUCHANAN ARTHUR
REGION CODE ADDRESS : 1513 EAST OCEAN AVENUE
01 CITY : SEAL BEACH
STATE/ZIP : CA 90740
MORTGAGE AMOUNT : 242,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,593.71 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 77.01587
----------------------------------------------------------------
0 0070308150 MORTGAGORS: BURNETT JAMES
BREEN DANIEL
REGION CODE ADDRESS : 109 WARREN AVENUE
01 CITY : BOSTON
STATE/ZIP : MA 02118
MORTGAGE AMOUNT : 447,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 447,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,049.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.50000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,787,600.00
P & I AMT: 12,256.96
UPB AMT: 1,787,310.09
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 203
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070309182 MORTGAGORS: PHILLIP LEARIE
PHILLIP CECILE
REGION CODE ADDRESS : 14929 NOTLEY ROAD
01 CITY : SILVER SPRI
STATE/ZIP : MD 20905
MORTGAGE AMOUNT : 346,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 346,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,360.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 85.85608
----------------------------------------------------------------
0 0070309562 MORTGAGORS: REED STEPHEN
REED DIANNE
REGION CODE ADDRESS : 1984 ALAQUA DRIVE
01 CITY : LONGWOOD
STATE/ZIP : FL 32779
MORTGAGE AMOUNT : 520,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 520,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,549.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 59.80460
----------------------------------------------------------------
0 0070309893 MORTGAGORS: MCINTOSH FORREST
MCINTOSH MOLLY
REGION CODE ADDRESS : 2528 225TH PLACE NORTHEAST
01 CITY : REDMOND
STATE/ZIP : WA 98053
MORTGAGE AMOUNT : 249,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,698.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 65.52632
----------------------------------------------------------------
0 0070313291 MORTGAGORS: LAURICELLA PAUL
LAURICELLA SUSAN
REGION CODE ADDRESS : 21 LAUREL LANE
01 CITY : WILTON
STATE/ZIP : CT 06897
MORTGAGE AMOUNT : 265,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,760.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,674.98 OUTSIDE CONV DATE :
LIFETIME RATE : 6.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.50000 PRODUCT CODE : 002
LTV : 48.62385
----------------------------------------------------------------
0 0070314216 MORTGAGORS: LAUDERMILCH NORMAN
REGION CODE ADDRESS : 7426 KINCHELOE ROAD
01 CITY : CLIFTON
STATE/ZIP : VA 22024
MORTGAGE AMOUNT : 250,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,668.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 76.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,631,100.00
P & I AMT: 10,951.87
UPB AMT: 1,630,860.44
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 204
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070315825 MORTGAGORS: MICHELET FLORENCE
ABUZAR SYED
REGION CODE ADDRESS : 953 CURTIS PLACE
01 CITY : NORTH BRUNS
STATE/ZIP : NJ 08902
MORTGAGE AMOUNT : 303,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,100.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,093.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.14706
----------------------------------------------------------------
0 0070316864 MORTGAGORS: NAGY MICHAEL
NAGY SUSAN
REGION CODE ADDRESS : 1074 HIGHLANDS CIRCLE
01 CITY : LOS ALTOS
STATE/ZIP : CA 94024
MORTGAGE AMOUNT : 474,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 474,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,277.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 61.23871
----------------------------------------------------------------
0 0070317094 MORTGAGORS: SKOBLICK KEVIN
SKOBLICK F
REGION CODE ADDRESS : 6605 SANTA ROSA ROAD
01 CITY : CAMARILLO
STATE/ZIP : CA 93012
MORTGAGE AMOUNT : 412,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 412,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,845.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070321831 MORTGAGORS: COYNE CHRISTOPHE
REGION CODE ADDRESS : 312-14 GASKILL ST
01 CITY : PHILADELPHI
STATE/ZIP : PA 19147
MORTGAGE AMOUNT : 279,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,450.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,042.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/23
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 69.00000
----------------------------------------------------------------
0 0070323043 MORTGAGORS: MAIER ROBERT
MAIER BARBARA
REGION CODE ADDRESS : 581 BOWSPRIT LANE
01 CITY : LONGBOAT KE
STATE/ZIP : FL 34228
MORTGAGE AMOUNT : 248,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,900.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,719.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 63.82051
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,718,050.00
P & I AMT: 11,978.49
UPB AMT: 1,718,050.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 205
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070325436 MORTGAGORS: WEBBER RAYMOND
WEBBER JENNIFER
REGION CODE ADDRESS : 9703 IRISH MAN'S RUN LANE
01 CITY : Zionsville
STATE/ZIP : IN 46077
MORTGAGE AMOUNT : 269,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,779.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,789.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 59.38000
----------------------------------------------------------------
0 0070325766 MORTGAGORS: GREEN WILLIAM
JUBELIRER MARNIE
REGION CODE ADDRESS : 2 WANDA WAY
01 CITY : MARTINEZ
STATE/ZIP : CA 94553
MORTGAGE AMOUNT : 249,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,721.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.90385
----------------------------------------------------------------
0 0070326145 MORTGAGORS: KATZ HARRY
KATZ BARBARA
REGION CODE ADDRESS : 3 DOGWOOD CLOSE
01 CITY : Briarcliff Manor
STATE/ZIP : NY 10510
MORTGAGE AMOUNT : 437,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 436,659.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,981.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.45000
----------------------------------------------------------------
0 0070326806 MORTGAGORS: PAPE ROBERT
PAPE DIANE
REGION CODE ADDRESS : 34 IVY WAY
01 CITY : PORT WASHIN
STATE/ZIP : NY 11050
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 400,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,891.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/23
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070327663 MORTGAGORS: Weiss Michael
WEISS SUSAN
REGION CODE ADDRESS : 54 EAST MALL DRIVE
01 CITY : MELVILLE
STATE/ZIP : NY 11747
MORTGAGE AMOUNT : 380,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 380,510.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,630.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,736,100.00
P & I AMT: 12,013.94
UPB AMT: 1,735,248.85
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 206
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070329115 MORTGAGORS: GOLDWATER JAMES
GOLDWATER SHANNON
REGION CODE ADDRESS : 7502 BULFINCH COURT
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22315
MORTGAGE AMOUNT : 251,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,150.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,628.95 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 75.87613
----------------------------------------------------------------
0 0070331178 MORTGAGORS: BORO MICHAEL
FONTANA JOHN
REGION CODE ADDRESS : 30 SPRINGWOODS
01 CITY : East Hampton
STATE/ZIP : NY 11937
MORTGAGE AMOUNT : 332,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 332,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,236.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070331319 MORTGAGORS: GESSECK LEONARD
GESSECK JANET
REGION CODE ADDRESS : 6500 EAST VIA CORRAL
01 CITY : ANAHEIM
STATE/ZIP : CA 92807
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,712.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070332408 MORTGAGORS: DANIELS JOAN
DANIELS GEORGE
REGION CODE ADDRESS : 42 CLAUSS AVENUE
01 CITY : PARAMUS
STATE/ZIP : NJ 07652
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,764.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,839.40 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070333380 MORTGAGORS: MURTHA THOMAS
MURTHA JOCELYN
REGION CODE ADDRESS : 150 HURLBUTT STREET
01 CITY : WILTON
STATE/ZIP : CT 06897
MORTGAGE AMOUNT : 406,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 406,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,804.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 67.55408
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,517,150.00
P & I AMT: 10,222.11
UPB AMT: 1,516,914.77
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 207
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070336375 MORTGAGORS: FAGAN BARRY
FAGAN REBECCA
REGION CODE ADDRESS : 30 HILLTOP ROAD
01 CITY : Waccabuc
STATE/ZIP : NY 10597
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,041.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 56.15000
----------------------------------------------------------------
0 0070336532 MORTGAGORS: BERNSTEIN SCOTT
BERNSTEIN LYNN
REGION CODE ADDRESS : 465 WEST END AVE #9C
01 CITY : New York
STATE/ZIP : NY 10024
MORTGAGE AMOUNT : 530,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 529,606.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,705.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 45.11000
----------------------------------------------------------------
0 0070337522 MORTGAGORS: JUDGE CAROLYN
LEAPER ROBERT
REGION CODE ADDRESS : 34 MAGAZINE STREET
01 CITY : CAMBRIDGE
STATE/ZIP : MA 02139
MORTGAGE AMOUNT : 249,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,723.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 45.38182
----------------------------------------------------------------
0 0070338116 MORTGAGORS: HASKELL JOHN
HASKELL MARGUND
REGION CODE ADDRESS : 22489 NORTH BEAR CREEK
01 CITY : MURRIETA
STATE/ZIP : CA 92562
MORTGAGE AMOUNT : 439,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 439,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,994.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 60.97222
----------------------------------------------------------------
0 0070340922 MORTGAGORS: VAN GELDERN ANNE
REGION CODE ADDRESS : 5 COVEWOOD DR.
01 CITY : Norwalk
STATE/ZIP : CT 06853
MORTGAGE AMOUNT : 416,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 416,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,767.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,926,600.00
P & I AMT: 13,233.89
UPB AMT: 1,926,206.66
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 208
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070342209 MORTGAGORS: GRAFF ARNOLD
GRAFF BRENDA
REGION CODE ADDRESS : 349 WEST DAMASCUS DRIVE
01 CITY : ST. GEORGE
STATE/ZIP : UT 84790
MORTGAGE AMOUNT : 374,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 373,700.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,519.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 70.56604
----------------------------------------------------------------
0 0070342902 MORTGAGORS: WARSHAWSKY JOHN
WARSHAWSKY SUSAN
REGION CODE ADDRESS : 6101 MASSACHUSETTS AVE
01 CITY : BETHESDA
STATE/ZIP : MD 20816
MORTGAGE AMOUNT : 294,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,980.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 86.47059
----------------------------------------------------------------
0 0070343405 MORTGAGORS: HIMMELBERG DANIEL
HIMMELBERG CHRISTINE
REGION CODE ADDRESS : 3522 EAST BARON COURT
01 CITY : ORANGE
STATE/ZIP : CA 92869
MORTGAGE AMOUNT : 243,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,638.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070343579 MORTGAGORS: FRIEND DAVID
FRIEND WENDY
REGION CODE ADDRESS : 787 CENTRAL AVE
01 CITY : Woodmere
STATE/ZIP : NY 11598
MORTGAGE AMOUNT : 356,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 356,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,368.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070344148 MORTGAGORS: CAREY WAYNE
BURCHILL LINDA
REGION CODE ADDRESS : 629 NORTH FRANKLIN AVENUE
01 CITY : RIVER FORES
STATE/ZIP : IL 60305
MORTGAGE AMOUNT : 278,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,872.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.42857
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,545,200.00
P & I AMT: 10,380.34
UPB AMT: 1,544,900.92
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 209
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070345012 MORTGAGORS: KNOTT ANNE
HOOPES DAVID
REGION CODE ADDRESS : 414 KENT ROAD
01 CITY : BALA CYNWYD
STATE/ZIP : PA 19004
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 308,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,075.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070345210 MORTGAGORS: MAROTTA ANTHONY
MAROTTA JULIE
REGION CODE ADDRESS : 6512 PEMBA DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95119
MORTGAGE AMOUNT : 253,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,705.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 84.40000
----------------------------------------------------------------
0 0070345475 MORTGAGORS: HARADA SCOTT
EVERTS MEIGAN
REGION CODE ADDRESS : 5742 KINGSFORD TERRACE
01 CITY : IRVINE
STATE/ZIP : CA 92715
MORTGAGE AMOUNT : 532,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 532,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,587.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0070347042 MORTGAGORS: SHEPHERD E
SHEPHERD JUANITA
REGION CODE ADDRESS : 11722 BISHOPS CONTENT
01 CITY : MITCHELLVIL
STATE/ZIP : MD 20721
MORTGAGE AMOUNT : 245,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,653.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.96743
----------------------------------------------------------------
0 0070348388 MORTGAGORS: GIBBONS KEVIN
GIBBONS LORI
REGION CODE ADDRESS : 8244 ELKO DRIVE
01 CITY : ELLICOTT CI
STATE/ZIP : MD 21043
MORTGAGE AMOUNT : 258,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,893.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,738.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 88.39041
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,597,300.00
P & I AMT: 10,761.31
UPB AMT: 1,597,093.60
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 210
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070348404 MORTGAGORS: COLPOYS JOHN
COLPOYS PAMELA
REGION CODE ADDRESS : 9955 CAPRIDGE DRIVE
01 CITY : DALLAS
STATE/ZIP : TX 75238
MORTGAGE AMOUNT : 267,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,798.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 89.00000
----------------------------------------------------------------
0 0070349014 MORTGAGORS: MACK STEPHEN
MACK LISA
REGION CODE ADDRESS : 14109 FOREST RIDGE DR
01 CITY : NORTH POTOM
STATE/ZIP : MD 20878
MORTGAGE AMOUNT : 277,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,577.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,871.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.37143
----------------------------------------------------------------
0 0070349642 MORTGAGORS: JACKSON MARTIN
JACKSON SHIRLEY
REGION CODE ADDRESS : 2383 PLEASANT VALLEY ROAD
01 CITY : APTOS
STATE/ZIP : CA 95003
MORTGAGE AMOUNT : 312,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 312,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,129.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 45.91176
----------------------------------------------------------------
0 0070350103 MORTGAGORS: LILLIAN DANIEL
REGION CODE ADDRESS : 13730 SAMHILL DRIVE
01 CITY : MOUNT AIRY
STATE/ZIP : MD 21771
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,805.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070352596 MORTGAGORS: GOTTESMAN PETER
GOTTESMAN ILENE
REGION CODE ADDRESS : 6109 LENOX ROAD
01 CITY : BETHESDA
STATE/ZIP : MD 20817
MORTGAGE AMOUNT : 267,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,935.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/23
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 50.81594
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,392,800.00
P & I AMT: 9,541.42
UPB AMT: 1,392,577.85
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 211
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070352877 MORTGAGORS: BRZEZYNSKI LORA
BRZEZYNSKI JAY
REGION CODE ADDRESS : 12525 WHITE DRIVE
01 CITY : FAIRFAX
STATE/ZIP : VA 22030
MORTGAGE AMOUNT : 279,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,903.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 76.02180
----------------------------------------------------------------
0 0070354527 MORTGAGORS: OTTO RICHARD
OTTO PATRICIA
REGION CODE ADDRESS : 18241 JAMAICA PATH
01 CITY : LAKEVILLE
STATE/ZIP : MN 55044
MORTGAGE AMOUNT : 251,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,900.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,697.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99365
----------------------------------------------------------------
0 0070354626 MORTGAGORS: BILSBOROUGH JOSEPH
BILSBOROUGH MARY
REGION CODE ADDRESS : 12618 NORTHEAST 100TH
01 CITY : KIRKLAND
STATE/ZIP : WA 98033
MORTGAGE AMOUNT : 254,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,693.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 78.33846
----------------------------------------------------------------
0 0070354725 MORTGAGORS: YELPO JOSEPH
YELPO BEVERLY
REGION CODE ADDRESS : 19 MILITIA RD
01 CITY : WHITEHOUSE
STATE/ZIP : NJ 08889
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,684.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 65.35948
----------------------------------------------------------------
0 0070355185 MORTGAGORS: CHOW GEORGE
CHOW MARIE
REGION CODE ADDRESS : 5020 VANALDEN AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 91356
MORTGAGE AMOUNT : 359,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,100.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,419.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.60000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,394,600.00
P & I AMT: 9,397.85
UPB AMT: 1,394,600.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 212
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070355250 MORTGAGORS: PRESTON ANNE
CONROY KATHLEEN
REGION CODE ADDRESS : 1016 2ND AVENUE NORTH
01 CITY : SEATTLE
STATE/ZIP : WA 98109
MORTGAGE AMOUNT : 314,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,117.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 78.18408
----------------------------------------------------------------
0 0070355482 MORTGAGORS: TWYMAN ROY
TWYMAN NORMA
REGION CODE ADDRESS : 3355 Byron Drive
01 CITY : Doylestown
STATE/ZIP : PA 18901
MORTGAGE AMOUNT : 355,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 354,701.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,332.10 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.46000
----------------------------------------------------------------
0 0070355722 MORTGAGORS: BROWN DONALD
BROWN DONNA
REGION CODE ADDRESS : 3139 HAWKCREST CIRCLE
01 CITY : SAN JOSE
STATE/ZIP : CA 95135
MORTGAGE AMOUNT : 265,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,790.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 41.52344
----------------------------------------------------------------
0 0070356712 MORTGAGORS: NICHOLLS CHRISTOPHER
NICHOLLS YVONNE
REGION CODE ADDRESS : 14 GARDNER STREET
01 CITY : Darien
STATE/ZIP : CT 06820
MORTGAGE AMOUNT : 394,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 393,692.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,687.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070357330 MORTGAGORS: THOMPSON RONALD
THOMPSON SHIRLEY
REGION CODE ADDRESS : 606 SOUTH COOK STREET
01 CITY : BARRINGTON
STATE/ZIP : IL 60010
MORTGAGE AMOUNT : 276,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 276,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,884.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.68421
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,605,250.00
P & I AMT: 10,811.95
UPB AMT: 1,604,644.41
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 213
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070358759 MORTGAGORS: JUBELT STEVEN
JUBELT DEBRA
REGION CODE ADDRESS : 19 RISING RIDGE
01 CITY : UPPER SADDL
STATE/ZIP : NJ 07458
MORTGAGE AMOUNT : 341,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 341,550.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,158.83 OUTSIDE CONV DATE :
LIFETIME RATE : 6.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.50000 PRODUCT CODE : 002
LTV : 64.44340
----------------------------------------------------------------
0 0070358882 MORTGAGORS: CURTIS THOMAS
CURTIS MARY
REGION CODE ADDRESS : 13812 BELLE POINTE DRIVE
01 CITY : LITTLE ROCK
STATE/ZIP : AR 72212
MORTGAGE AMOUNT : 286,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,952.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 71.55000
----------------------------------------------------------------
0 0070359203 MORTGAGORS: MERIAM III HAROLD
MERIAM VIRGINIA
REGION CODE ADDRESS : 3 NASSAU BLVD
01 CITY : GARDEN CITY
STATE/ZIP : NY 11530
MORTGAGE AMOUNT : 462,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 462,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,996.52 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070359674 MORTGAGORS: CLARK EDWARD
CLARK CARLEEN
REGION CODE ADDRESS : 1367 SOUTH EMBASSY CIRCLE
01 CITY : SALT LAKE C
STATE/ZIP : UT 84108
MORTGAGE AMOUNT : 339,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,318.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 70.79167
----------------------------------------------------------------
0 0070360573 MORTGAGORS: SCITES GAREY
SCITES LORINDA
REGION CODE ADDRESS : 2251 UNIVERSITY DRIVE
01 CITY : NAPERVILLE
STATE/ZIP : IL 60565
MORTGAGE AMOUNT : 265,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,788.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 87.04918
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,695,050.00
P & I AMT: 11,214.50
UPB AMT: 1,695,050.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 214
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070361654 MORTGAGORS: POTTER GREG
POTTER RANDI
REGION CODE ADDRESS : 118 JAMIE COURT
01 CITY : LOS GATOS
STATE/ZIP : CA 95032
MORTGAGE AMOUNT : 282,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,903.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 47.10000
----------------------------------------------------------------
0 0070362108 MORTGAGORS: HEINEN PETER
HEINEN NEELU
REGION CODE ADDRESS : 14673 78TH AVENUE NORTH
01 CITY : MAPLE GROVE
STATE/ZIP : MN 55311
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,745.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,800.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 61.11111
----------------------------------------------------------------
0 0070364757 MORTGAGORS: PITOFSKY DONALD
PITOFSKY MARY
REGION CODE ADDRESS : 31 BUTLER STREET
01 CITY : GREENWICH
STATE/ZIP : CT 06807
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,744.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,155.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 45.71429
----------------------------------------------------------------
0 0070364989 MORTGAGORS: DOUD JAMES
DOUD CANDACE
REGION CODE ADDRESS : 8925 LAKE WASHINGTON BLVD
01 CITY : BELLEVUE
STATE/ZIP : WA 98004
MORTGAGE AMOUNT : 332,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 332,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,295.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 34.97895
----------------------------------------------------------------
0 0070365945 MORTGAGORS: VERBITSKY VLADIMIR
VERBITSKY ELENA
REGION CODE ADDRESS : 11 SKY VIEW CIRCLE
01 CITY : Newton
STATE/ZIP : MA 02159
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,507.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 58.63000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,548,900.00
P & I AMT: 10,663.33
UPB AMT: 1,540,389.82
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 215
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070366026 MORTGAGORS: SCHILOWITZ HARVEY
SCHILOWITZ LINDA
REGION CODE ADDRESS : 5 RIVERSIDE DRIVE #4C
01 CITY : New York
STATE/ZIP : NY 10023
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,726.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 41.67000
----------------------------------------------------------------
0 0070366091 MORTGAGORS: YELLEN CHARLES
YELLEN JODI
REGION CODE ADDRESS : 239 EAST 79TH ST # 9P
01 CITY : New York
STATE/ZIP : NY 10021
MORTGAGE AMOUNT : 247,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,709.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0070367297 MORTGAGORS: MEARS MICHAEL
MEARS CLAUDINE
REGION CODE ADDRESS : 44 BAY EDGE COURT
01 CITY : FAIRFIELD
STATE/ZIP : CT 06430
MORTGAGE AMOUNT : 289,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,926.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 76.81698
----------------------------------------------------------------
0 0070367578 MORTGAGORS: SIEMERS KENNETH
SIEMERS KATHLEEN
REGION CODE ADDRESS : 735 GRAPE AVENUE
01 CITY : SUNNYVALE
STATE/ZIP : CA 94087
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,896.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 67.05882
----------------------------------------------------------------
0 0070367644 MORTGAGORS: TAPPER MICHAEL
TAPPER BONNIE
REGION CODE ADDRESS : 8029 LISMORE CIRCLE
01 CITY : EDEN PRAIRI
STATE/ZIP : MN 55347
MORTGAGE AMOUNT : 241,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,667.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.44444
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,313,600.00
P & I AMT: 8,926.92
UPB AMT: 1,313,600.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 216
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070374772 MORTGAGORS: BLACKWELL MICHAEL
REGION CODE ADDRESS : 130 WICKSFORD GLEN
01 CITY : DUNWOODY
STATE/ZIP : GA 30350
MORTGAGE AMOUNT : 291,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,944.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,990.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.94521
----------------------------------------------------------------
0 0070374954 MORTGAGORS: MILLIREN GUY
MILLIREN SALLY
REGION CODE ADDRESS : 1991 FAGERNESS POINT ROAD
01 CITY : ORONO
STATE/ZIP : MN 55391
MORTGAGE AMOUNT : 498,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 498,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,443.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.12698
----------------------------------------------------------------
0 0070376025 MORTGAGORS: SCHWARTZ PHYLLIS
LEAVESSEUR PAUL
REGION CODE ADDRESS : 616 15TH STREET
01 CITY : Wilmette
STATE/ZIP : IL 60091
MORTGAGE AMOUNT : 306,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 306,660.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,093.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 52.46000
----------------------------------------------------------------
0 0070376140 MORTGAGORS: LETTE DANIEL
LETTE REBECCA
REGION CODE ADDRESS : 8940 WATERFOWL FLYWAY
01 CITY : CHESTERFIEL
STATE/ZIP : VA 23838
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,072.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0070377700 MORTGAGORS: POLHAMUS RICK
POLHAMUS RENEE
REGION CODE ADDRESS : 19802 SEA CANYON CR.
01 CITY : Huntington Beach
STATE/ZIP : CA 92648
MORTGAGE AMOUNT : 440,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 440,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,927.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 73.33000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,837,200.00
P & I AMT: 12,526.57
UPB AMT: 1,836,104.89
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 217
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070381371 MORTGAGORS: LAW NEAL
LAW ROBERTA
REGION CODE ADDRESS : 6324 SOFT THUNDER TRAIL
01 CITY : Columbia
STATE/ZIP : MD 21045
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,825.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,128.20 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 89.74000
----------------------------------------------------------------
0 0070382213 MORTGAGORS: GARCIA GLEN
GARCIA SUSAN
REGION CODE ADDRESS : 36029 TURPIN WAY
01 CITY : FREMONT
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 285,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,100.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,969.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.41504
----------------------------------------------------------------
0 0070386255 MORTGAGORS: PETERS STEVEN
PETERS AMY
REGION CODE ADDRESS : 4518 CHICOPEE TRAIL
01 CITY : DURHAM
STATE/ZIP : NC 27707
MORTGAGE AMOUNT : 244,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,690.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070386552 MORTGAGORS: BIELAMOWICZ MICHAEL
BIELAMOWICZ ANDREA
REGION CODE ADDRESS : 10851 BARMAN AVENUE
01 CITY : CULVER CITY
STATE/ZIP : CA 90230
MORTGAGE AMOUNT : 257,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,900.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,781.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.38906
----------------------------------------------------------------
0 0070389887 MORTGAGORS: MYERS ROBERT
REGION CODE ADDRESS : 50 PUU ANOANO STREET NO.1404
01 CITY : Lahaina
STATE/ZIP : HI 96761
MORTGAGE AMOUNT : 404,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 403,700.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,824.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,471,800.00
P & I AMT: 10,394.16
UPB AMT: 1,471,326.14
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 218
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070390307 MORTGAGORS: HATCH JONATHAN
LEE MING
REGION CODE ADDRESS : 250 W 89TH ST #PH1C
01 CITY : New York
STATE/ZIP : NY 10024
MORTGAGE AMOUNT : 399,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,791.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070390695 MORTGAGORS: FREY MICHAEL
FREY LORRAINE
REGION CODE ADDRESS : 57 VALLECITO LANE
01 CITY : WALNUT CREE
STATE/ZIP : CA 94596
MORTGAGE AMOUNT : 317,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 317,700.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,194.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 52.08197
----------------------------------------------------------------
0 0070391016 MORTGAGORS: CATALANO ANTHONY
REGION CODE ADDRESS : 11512 DUQUE DRIVE
01 CITY : STUDIO CITY
STATE/ZIP : CA 91604
MORTGAGE AMOUNT : 365,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 365,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,667.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/23
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 58.40000
----------------------------------------------------------------
0 0070392725 MORTGAGORS: CHERNEY JERRY
CHERNEY LYNN
REGION CODE ADDRESS : 2750 PORTER COURT
01 CITY : GLENVIEW
STATE/ZIP : IL 60025
MORTGAGE AMOUNT : 375,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 375,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,558.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 68.18182
----------------------------------------------------------------
0 0070393004 MORTGAGORS: PHILLIPS JOHN
REGION CODE ADDRESS : 1421 Rosalie Dr.
01 CITY : Santa Clara
STATE/ZIP : CA 95050
MORTGAGE AMOUNT : 306,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 306,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,987.30 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,763,300.00
P & I AMT: 12,198.70
UPB AMT: 1,763,300.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 219
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070394267 MORTGAGORS: BURMEISTER PAUL
BURMEISTER GAIL
REGION CODE ADDRESS : 52 MACMILLAN DRIVE
01 CITY : Concord
STATE/ZIP : MA 01742
MORTGAGE AMOUNT : 620,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 620,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,229.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 53.91000
----------------------------------------------------------------
0 0070400395 MORTGAGORS: JONES CHERYL
REGION CODE ADDRESS : 3444 HIDDEN RIVER VIEW RD
01 CITY : Annapolis
STATE/ZIP : MD 21403
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,072.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 41.38000
----------------------------------------------------------------
0 0070401245 MORTGAGORS: GOLDBERG LESLIE
GOLDBERG PATRICIA
REGION CODE ADDRESS : 4462 WOODFIELD BLVD
01 CITY : Boca Raton
STATE/ZIP : FL 33434
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,021.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 52.63000
----------------------------------------------------------------
0 0070405055 MORTGAGORS: CARTER GARRY
CARTER SANDRA
REGION CODE ADDRESS : 3083 CRESTA BLANCA DR.
01 CITY : Pleasanton
STATE/ZIP : CA 94566
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 500,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,453.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 77.52000
----------------------------------------------------------------
0 0070405576 MORTGAGORS: COLKY MICHAEL
COLKY DEBORAH
REGION CODE ADDRESS : 1943 WEST WABANSIA AVENUE
01 CITY : CHICAGO
STATE/ZIP : IL 60622
MORTGAGE AMOUNT : 374,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 374,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,551.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 65.61404
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,094,000.00
P & I AMT: 14,327.40
UPB AMT: 2,094,000.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 220
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070407549 MORTGAGORS: HARTMANN BERND
HARTMANN DOROTHEA
REGION CODE ADDRESS : 4261 CHESLON LANE
01 CITY : WOODBRIDGE
STATE/ZIP : VA 22192
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,726.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 69.44444
----------------------------------------------------------------
0 0070408711 MORTGAGORS: STEVENS THOMAS
REGION CODE ADDRESS : 299 MILLER STREET
01 CITY : Middleboro
STATE/ZIP : MA 02346
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,815.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,943.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 67.00000
----------------------------------------------------------------
0 0070411616 MORTGAGORS: YOUNKER RODNEY
REGION CODE ADDRESS : 6541 16TH AVE N.W
01 CITY : Seattle
STATE/ZIP : WA 98109
MORTGAGE AMOUNT : 254,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,757.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070411970 MORTGAGORS: EMORY STEPHEN
EMORY CHERYL
REGION CODE ADDRESS : 20295 S.W. HILLSBORO HWY.
01 CITY : Newberg
STATE/ZIP : OR 97132
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,953.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.36000
----------------------------------------------------------------
0 0070413018 MORTGAGORS: HAMBRICK LISA
REGION CODE ADDRESS : 1639 Tupolo Drive
01 CITY : San Jose
STATE/ZIP : CA 95124
MORTGAGE AMOUNT : 314,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,250.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,143.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,376,650.00
P & I AMT: 9,524.48
UPB AMT: 1,376,465.56
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 221
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070414644 MORTGAGORS: GOLDBERG STEVEN
GOLDBERG RHONDA
REGION CODE ADDRESS : 19617 110 TH PLACE NE
01 CITY : Bothell
STATE/ZIP : WA 98011
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,751.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070415070 MORTGAGORS: DAVIS BRUCE
REGION CODE ADDRESS : 429 BELKNAP ROAD
01 CITY : Framingham
STATE/ZIP : MA 01701
MORTGAGE AMOUNT : 492,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 492,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,440.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 48.25000
----------------------------------------------------------------
0 0070415781 MORTGAGORS: KISH STEPHANIE
MANN KIMBERLEY
REGION CODE ADDRESS : 1228 FORT STOCKTON DRIVE
01 CITY : SAN DIEGO
STATE/ZIP : CA 92103
MORTGAGE AMOUNT : 291,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,987.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 68.56471
----------------------------------------------------------------
0 0070417449 MORTGAGORS: LU PO
WANG YU
REGION CODE ADDRESS : 1903 BLACKFOOT DRIVE
01 CITY : Fremont
STATE/ZIP : CA 94539
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,762.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 35.49000
----------------------------------------------------------------
0 0070417498 MORTGAGORS: McAREE PATRICK
McAREE HARDAGE
REGION CODE ADDRESS : 17841 TARZANA STREET
01 CITY : Encino
STATE/ZIP : CA 91316
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,910.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 73.68000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,575,400.00
P & I AMT: 10,851.78
UPB AMT: 1,575,400.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 222
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070417506 MORTGAGORS: KIRK KAREN
KIRK KENNETH
REGION CODE ADDRESS : 4790 LAGE DRIVE
01 CITY : San Jose
STATE/ZIP : CA 95130
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,804.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 63.75000
----------------------------------------------------------------
0 0070418207 MORTGAGORS: WINTHROP MARC
WINTHROP ANN
REGION CODE ADDRESS : 3016 CLIFF DRIVE
01 CITY : Newport Beach
STATE/ZIP : CA 92663
MORTGAGE AMOUNT : 635,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 635,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,440.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 54.04000
----------------------------------------------------------------
0 0070418801 MORTGAGORS: PARRILLI ROBERT
PARRILLI KATHLEEN
REGION CODE ADDRESS : 714 FRANKLIN AVENUE
01 CITY : River Forest
STATE/ZIP : IL 60305
MORTGAGE AMOUNT : 480,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 480,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,233.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 73.28000
----------------------------------------------------------------
0 0070419288 MORTGAGORS: MCGONIAGLE MARK
MCGONIAGLE JEANNE
REGION CODE ADDRESS : 1050 FOREST STREET
01 CITY : North Andover
STATE/ZIP : MA 01845
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,789.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 83.12000
----------------------------------------------------------------
0 0070423801 MORTGAGORS: GORDON PAMELA
REGION CODE ADDRESS : 6739 POSITANO LANE
01 CITY : San Jose
STATE/ZIP : CA 95138
MORTGAGE AMOUNT : 313,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 313,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,218.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 76.46000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,939,500.00
P & I AMT: 13,487.65
UPB AMT: 1,939,500.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 223
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070425012 MORTGAGORS: BOOTH RONALD
BOOTH SANDRA
REGION CODE ADDRESS : 4562 CASA ORO DRIVE
01 CITY : YORBA LINDA
STATE/ZIP : CA 92686
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,769.79 OUTSIDE CONV DATE :
LIFETIME RATE : 6.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 6.50000 PRODUCT CODE : 002
LTV : 76.71233
----------------------------------------------------------------
0 0070425251 MORTGAGORS: MICHAEL MARTIN
REGION CODE ADDRESS : 216 GREGG DRIVE
01 CITY : LOS GATOS
STATE/ZIP : CA 95032
MORTGAGE AMOUNT : 263,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,797.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 58.55556
----------------------------------------------------------------
0 0070425533 MORTGAGORS: WILSON VINCENT
REGION CODE ADDRESS : 1711 GOLD MINE RD
01 CITY : Brookeville
STATE/ZIP : MD 20833
MORTGAGE AMOUNT : 560,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 560,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,963.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 58.95000
----------------------------------------------------------------
0 0070428461 MORTGAGORS: BABBUSH ROBERT
BABBUSH RENEE
REGION CODE ADDRESS : 10272 RUE ST. JACQUES
01 CITY : San Diego
STATE/ZIP : CA 92131
MORTGAGE AMOUNT : 287,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,987.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 57.56000
----------------------------------------------------------------
0 0070430301 MORTGAGORS: ROOF RICHARD
REGION CODE ADDRESS : 22344 SIESTA KEY DRIVE
01 CITY : Boca Raton
STATE/ZIP : FL 33428
MORTGAGE AMOUNT : 250,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,753.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,642,100.00
P & I AMT: 11,272.35
UPB AMT: 1,642,100.00
<PAGE>
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 10/01/98
P.O. BOX 5260 TMS AG0004981930 01 02
PAGE: 224
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070443528 MORTGAGORS: DEMGEN GREGORY
NOVARA DEMGEN TONYA
REGION CODE ADDRESS : 1373 SPARROW ROAD
01 CITY : Carlsbad
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,978.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 64.44000
----------------------------------------------------------------
0 0070445408 MORTGAGORS: PERCIA JOSEPH
REGION CODE ADDRESS : 9095 CREST HILL COURT
01 CITY : Gilroy
STATE/ZIP : CA 95020
MORTGAGE AMOUNT : 287,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,959.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070446562 MORTGAGORS: HOFFMAN STEPHEN
HOFFMAN SALLY
REGION CODE ADDRESS : 10639 CRAWFORD COUNTY RD.
01 CITY : Santa Ana
STATE/ZIP : CA 92705
MORTGAGE AMOUNT : 326,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 326,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,196.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.94000
----------------------------------------------------------------
0 0070457254 MORTGAGORS: FESTER,JR. AUGUST
JACOBSEN-FESTER LINDA
REGION CODE ADDRESS : 2869 VIA DE LA GUERRA
01 CITY : Palos Verdes Estates
STATE/ZIP : CA 90274
MORTGAGE AMOUNT : 351,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 351,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,394.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 67.63000
----------------------------------------------------------------
0 0070459722 MORTGAGORS: BAMBER DAVID
REGION CODE ADDRESS : 8895 APPIAN WAY
01 CITY : Los Angeles
STATE/ZIP : CA 90046
MORTGAGE AMOUNT : 492,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 492,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,314.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 10/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,746,200.00
P & I AMT: 11,842.98
UPB AMT: 1,746,200.00
0 TOTAL NUM OF LOANS: 1120
LOAN AMT: 376,792,113.00
P & I AMT: 2,580,289.31
UPB AMT: 376,451,913.06
<PAGE>
EXHIBIT C - SUPPLEMENT
SCHEDULE OF COOPERATIVE LOANS
SERIES 1998-19
LOAN NO. CUT-OFF DATE BORROWER
PRINCIPAL BALANCE NAME
70277611 $250,000.00 Goldstein
70302252 $355,000.00 Laskey
70336532 $529,606.66 Bernstein
70366026 $250,000.00 Schilowitz
70366091 $247,500.00 Yellen
70390307 $399,200.00 Hatch
<PAGE>
EXHIBIT D
FORM OF SERVICER'S CERTIFICATE
________________, ______
(month) (year)
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC Multi-Class Pass-Through Certificates,
Series 1998-19
Pursuant to the Pooling and Servicing Agreement dated
as of October 1, 1998 (the "Agreement") between GE Capital
Mortgage Services, Inc. (the "Company"), and State Street Bank
and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the
Determination Date for this month:
A. Mortgage Loan Information:
(1) Aggregate Scheduled Monthly
Payments:
(a) Principal $________
(b) Interest $________
(c) Total $________
(2) Aggregate Monthly Payments
received and Monthly Advances
made this Month:
(a) Principal $________
(b) Interest $________
(c) Total $________
(3) Aggregate Principal Prepayments
in part received and applied in
the applicable Prepayment Period:
(a) Principal $________
(b) Interest $________
(c) Total $________
(4) Aggregate Principal Prepayments
in full received in the applicable
Prepayment Period:
(a) Principal $________
(b) Interest $________
(c) Total $________
<PAGE>
(5) Aggregate Insurance Proceeds
(including purchases of Mortgage
Loans by primary mortgage insurers)
for prior month:
(a) Principal $________
(b) Interest $________
(c) Total $________
(6) Aggregate Liquidation Proceeds for
prior month:
(a) Principal $________
(b) Interest $________
(c) Total $________
(7) Aggregate Purchase Prices for
Defaulted and Modified Mortgage
Loans:
(a) Principal $________
(b) Interest $________
(c) Total $________
(8) Aggregate Purchase Prices (and
substitution adjustments) for
Defective Mortgage Loans:
(a) Principal $________
(b) Interest $________
(c) Total $________
(9) Pool Scheduled Principal Balance: $________
(10) Available Funds: $________
(11) Realized Losses for prior month: $________
(12) Aggregate Realized Losses and
Debt Service Reductions:
(a) Deficient Valuations $________
(b) Special Hazard Losses $________
(c) Fraud Losses $________
(d) Excess Bankruptcy Losses $________
(e) Excess Special Hazard Losses $________
(f) Excess Fraud Losses $________
(g) Debt Service Reductions $________
(13) Compensating Interest Payment: $________
D-2
<PAGE>
(14) Accrued Certificate Interest, Unpaid Class
Interest Shortfalls and Pay-out Rate:
Class A1 $__________ $__________ ____%
Class A2 $__________ $__________ ____%
Class A3 $__________ $__________ ____%
Class A4 $__________ $__________ ____%
Class A5 $__________ $__________ ____%
Class A6 $__________ $__________ ____%
Class A7 $__________ $__________ ____%
Class A8 $__________ $__________ ____%
Class A9 $__________ $__________ ____%
Class A10 $__________ $__________ ____%
Class A11 $__________ $__________ ____%
Class A12 $__________ $__________ ____%
Class M $__________ $__________ ____%
Class B1 $__________ $__________ ____%
Class B2 $__________ $__________ ____%
Class B3 $__________ $__________ ____%
Class B4 $__________ $__________ ____%
Class B5 $__________ $__________ ____%
Class R $__________ $__________ ____%
(15) Accrual Amount:
Class A9 $__________
(16) Principal distributable:
Class A1 $__________
Class A2 $__________
Class A3 $__________
Class A4 $__________
Class A5 $__________
Class A6 $__________
Class A7 $__________
Class A8 $__________
Class A9 $__________
Class A10 $__________
Class A11 $__________
Class A12 $__________
Class PO $__________
Class M $__________
Class B1 $__________
D-3
<PAGE>
Class B2 $__________
Class B3 $__________
Class B4 $__________
Class B5 $__________
Class R $__________
(17) Additional distributions to the Class R
Certificates pursuant to Section 4.01(b):
Class R $__________
(18) Distributions Allocable to Unanticipated
Recoveries:
Class A1 $_________
Class A2 $_________
Class A3 $_________
Class A4 $_________
Class A5 $_________
Class A6 $_________
Class A7 $_________
Class A8 $_________
Class A9 $_________
Class A10 $_________
Class A11 $_________
Class A12 $_________
Class PO $_________
Class M $_________
Class B1 $_________
Class B2 $_________
Class B3 $_________
Class B4 $_________
Class B5 $_________
Class R $_________
B. Other Amounts:
1. Senior Percentage for such
Distribution Date: _____________%
2. Senior Prepayment Percentage for
such Distribution Date: _____________%
D-4
<PAGE>
3. Junior Percentage for such
Distribution Date: _____________%
4. Junior Prepayment Percentage
for such Distribution Date: _____________%
5. Group II Senior Percentage
for such Distribution Date: _____________%
6. Group II Senior Scheduled
Distribution Percentage for
such Distribution Date: _____________%
7. Group II Senior Prepayment
Distribution Percentage for
such Distribution Date: _____________%
8. Subordinate Certificate Writedown
Amount for such Distribution Date: $_____________
9. Prepayment Distribution Triggers satisfied:
Yes No
Class B1 _____ _____
Class B2 _____ _____
Class B3 _____ _____
Class B4 _____ _____
Class B5 _____ _____
10. Base Servicing Fee: $___________
11. Supplemental Servicing Fee: $___________
Capitalized terms used in this Certificate shall have
the same meanings as in the Agreement.
D-5
<PAGE>
EXHIBIT E
FORM OF TRANSFER CERTIFICATE AS TO ERISA MATTERS FOR
DEFINITIVE ERISA-RESTRICTED CERTIFICATES
State Street Bank and Trust Company
Corporate Trust Department
225 Franklin Street
Boston, Massachusetts 02110
[NAME OF OFFICER] ______________________ hereby certifies that:
1. That he [she] is [title of officer] ___________________
of [name of Investor] _______________________________________
(the "Investor"), a __________ ______________________
[description of type of entity] duly organized and existing under
the laws of the [State of ____________] [United States], on
behalf of which he [she] makes this affidavit.
2. The Investor (i) is not, and on ________________ [insert
date of transfer of Certificate to Investor] will not be, and on
such date will not be investing the funds of, an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Code or (ii) is an insurance company investing assets of its
general account and the exemptions provided by Section III(a) of
Department of Labor Prohibited Transaction Class Exemption 95-60,
60 Fed. Reg. 35925 (July 12, 1995) (the "Exemptions") apply to
the Investor's acquisition and holding or any ERISA-Restricted
Certificate.
3. The Investor hereby acknowledges that under the terms of
the Pooling and Servicing Agreement (the "Agreement") between
State Street Bank and Trust Company, as Trustee and GE Capital
Mortgage Services, Inc., dated as of October 1, 1998, no transfer
of any ERISA-Restricted Certificate shall be permitted to be made
to any person unless the Trustee has received (i) a certificate
from such transferee to the effect that (x) such transferee is
not an employee benefit plan subject to ERISA or a plan subject
to Section 4975 of the Code (a "Plan") and is not using the
assets of any such employee benefit or other plan to acquire any
such Certificate or (y) such transferee is an insurance company
investing assets of its general account and the Exemptions apply
to such transferee's acquisition and holding of any such
Certificate or (ii) an opinion of counsel satisfactory to the
Trustee to the effect that the purchase and holding of any such
Certificate will not constitute or result in the assets of the
Trust Fund created by the Agreement being deemed to be "plan
assets" and subject to the prohibited transaction provisions of
ERISA or Section 4975 of the Code and will not subject the
Trustee or the Company to any obligation in addition to those
undertaken in the Agreement (provided, however, that the Trustee
<PAGE>
will not require such certificate or opinion in the event that,
as a result of change of law or otherwise, counsel satisfactory
to the Trustee has rendered an opinion to the effect that the
purchase and holding of any such Certificate by a Plan or a
Person that is purchasing or holding any such Certificate with
the assets of a Plan will not constitute or result in a
prohibited transaction under ERISA or Section 4975 of the Code).
[4. The ERISA-Restricted Certificates shall be registered
in the name of ______________________________________________ as
nominee for the Investor.] IN WITNESS WHEREOF, the Investor has
caused this instrument to be executed on its behalf, pursuant to
authority of its Board of Directors, by its [title of officer]
__________________ and its corporate seal to be hereunder
attached, attested by its [Assistant] Secretary, this ____ day of
_________, 199_.
__________________________________
[name of Investor]
By:_______________________________
Name:
Title:
The undersigned hereby
acknowledges that it is holding
and will hold the ERISA-Restricted
Certificates at the exclusive
direction of and as nominee of
the Investor named above.
_______________________________
[name of nominee]
By:____________________________
Name:
Title:
E-2
<PAGE>
EXHIBIT F
FORM OF RESIDUAL CERTIFICATE TRANSFEREE AFFIDAVIT
STATE OF )
) ss.:
COUNTY OF )
[NAME OF OFFICER], _________________ being first duly sworn,
deposes and says:
1. That he [she] is [title of officer] ___________________
of [name of Purchaser] _________________________________________
(the "Purchaser"), a _________________ ____________________
[description of type of entity] duly organized and existing under
the laws of the [State of __________] [United States], on behalf
of which he [she] makes this affidavit.
2. That the Purchaser's Taxpayer Identification Number is
[ ].
3. That the Purchaser is not a "disqualified organization"
within the meaning of Section 860E(e)(5) of the Internal Revenue
Code of 1986, as amended (the "Code") and will not be a
"disqualified organization" as of [date of transfer], and that
the Purchaser is not acquiring a Residual Certificate (as defined
below) for the account of, or as agent (including a broker,
nominee, or other middleman) for, any person or entity from which
it has not received an affidavit substantially in the form of
this affidavit. For these purposes, a "disqualified organization"
means the United States, any state or political subdivision
thereof, any foreign government, any international organization,
any agency or instrumentality of any of the foregoing (other than
an instrumentality if all of its activities are subject to tax
and a majority of its board of directors is not selected by such
governmental entity), any cooperative organization furnishing
electric energy or providing telephone service to persons in
rural areas as described in Code Section 1381(a)(2)(C), or any
organization (other than a farmers' cooperative described in Code
Section 521) that is exempt from federal income tax unless such
organization is subject to the tax on unrelated business income
imposed by Code Section 511. As used herein, "Residual
Certificate" means any Certificate designated as a "Class R
Certificate" of GE Capital Mortgage Services, Inc.'s REMIC
Multi-Class Pass-Through Certificates, Series 1998-19.
4. That the Purchaser is not, and on __________ [insert
date of transfer of Residual Certificate to Purchaser] will not
be, and is not and on such date will not be investing the assets
of, an employee benefit plan subject to the Employee Retirement
Income Security Act of 1974, as amended ("ERISA"), or a plan
subject to Code Section 4975 or a person or entity that is using
the assets of any employee benefit plan or other plan to acquire
a Residual Certificate.
5. That the Purchaser hereby acknowledges that under the
terms of the Pooling and Servicing Agreement (the "Agreement")
between State Street Bank and Trust Company, as
<PAGE>
Trustee, and GE Capital Mortgage Services, Inc., dated as of
October 1, 1998, no transfer of the Residual Certificates shall
be permitted to be made to any person unless the Trustee has
received a certificate from such transferee to the effect that
such transferee is not an employee benefit plan subject to ERISA
or a plan subject to Section 4975 of the Code and is not using
the assets of any employee benefit plan or other plan to acquire
Residual Certificates.
6. That the Purchaser does not hold REMIC residual
securities as nominee to facilitate the clearance and settlement
of such securities through electronic book-entry changes in
accounts of participating organizations (such entity, a
"Book-Entry Nominee").
7. That the Purchaser does not have the intention to impede
the assessment or collection of any federal, state or local taxes
legally required to be paid with respect to such Residual
Certificate.
8. That the Purchaser will not transfer a Residual
Certificate to any person or entity (i) as to which the Purchaser
has actual knowledge that the requirements set forth in paragraph
3, paragraph 6 or paragraph 10 hereof are not satisfied or that
the Purchaser has reason to believe does not satisfy the
requirements set forth in paragraph 7 hereof, and (ii) without
obtaining from the prospective Purchaser an affidavit
substantially in this form and providing to the Trustee a written
statement substantially in the form of Exhibit G to the
Agreement.
9. That the Purchaser understands that, as the holder of a
Residual Certificate, the Purchaser may incur tax liabilities in
excess of any cash flows generated by the interest and that it
intends to pay taxes associated with holding such Residual
Certificate as they become due.
10. That the Purchaser (i) is not a Non-U.S. Person or (ii)
is a Non-U.S. Person that holds a Residual Certificate in
connection with the conduct of a trade or business within the
United States and has furnished the transferor and the Trustee
with an effective Internal Revenue Service Form 4224 or successor
form at the time and in the manner required by the Code or (iii)
is a Non-U.S. Person that has delivered to both the transferor
and the Trustee an opinion of a nationally recognized tax counsel
to the effect that the transfer of such Residual Certificate to
it is in accordance with the requirements of the Code and the
regulations promulgated thereunder and that such transfer of a
Residual Certificate will not be disregarded for federal income
tax purposes. "Non-U.S. Person" means an individual, corporation,
partnership or other person other than a citizen or resident of
the United States, a corporation, partnership or other entity
created or organized in or under the laws of the United States or
any political subdivision thereof, or an estate or trust that is
subject to U.S. federal income tax regardless of the source of
its income.
11. That the Purchaser agrees to such amendments of the
Pooling and Servicing Agreement as may be required to further
effectuate the restrictions on transfer of any Residual
Certificate to such a "disqualified organization," an agent
thereof, a Book-Entry Nominee, or a person that does not satisfy
the requirements of paragraph 7 and paragraph 10 hereof.
F-2
<PAGE>
12. That the Purchaser consents to the designation of the
Company as its agent to act as "tax matters person" of the Trust
Fund pursuant to the Pooling and Servicing Agreement.
F-3
<PAGE>
IN WITNESS WHEREOF, the Purchaser has caused this
instrument to be executed on its behalf, pursuant to authority of
its Board of Directors, by its [title of officer] this _____ day
of __________, 19__.
_________________________________
[name of Purchaser]
By:______________________________
Name:
Title:
Personally appeared before me the above-named [name of officer]
________________, known or proved to me to be the same person who
executed the foregoing instrument and to be the [title of
officer] _________________ of the Purchaser, and acknowledged to
me that he [she] executed the same as his [her] free act and deed
and the free act and deed of the Purchaser.
Subscribed and sworn before me this _____ day of __________,
19__.
NOTARY PUBLIC
______________________________
COUNTY OF_____________________
STATE OF______________________
My commission expires the _____ day of __________, 19__.
F-4
<PAGE>
EXHIBIT G
[LETTER FROM TRANSFEROR OF RESIDUAL CERTIFICATE]
____________________
Date
State Street Bank and Trust Company
Corporate Trust Department
225 Franklin Street
8th Floor
Boston, Massachusetts 02110
Re: GE Capital Mortgage Services, Inc.
REMIC Multi-Class Pass-Through
Certificates, Series 1998-19
Ladies and Gentlemen:
_______________________ (the "Transferor") has
reviewed the attached affidavit of _____________________________
(the "Transferee"), and has no actual knowledge that such
affidavit is not true and has no reason to believe that the
information contained in paragraph 7 thereof is not true, and has
no reason to believe that the Transferee has the intention to
impede the assessment or collection of any federal, state or
local taxes legally required to be paid with respect to a
Residual Certificate. In addition, the Transferor has conducted a
reasonable investigation at the time of the transfer and found
that the Transferee had historically paid its debts as they came
due and found no significant evidence to indicate that the
Transferee will not continue to pay its debts as they become due.
Very truly yours,
______________________________
Name:
Title:
<PAGE>
EXHIBIT H
ADDITIONAL SERVICER COMPENSATION
QUALIFIED ADMINISTRATIVE EXPENSES
(Conventional, Non-Conforming Loans)
Assumption Fees $550 - $800
Late Charges Per Loan Documents
Appraisal/Inspection Fees Reasonable and Customary
Charges
Partial Release Fees $300
Easements $150
Insufficient Funds Charges $15
Document Requests (copies of
loan file documents, additional
pay-off quotations, amortization
schedules, payment histories) $0
Modification Fees Reasonable and Customary
Charges
<PAGE>
EXHIBIT I
FORM OF INVESTMENT LETTER FOR
DEFINITIVE RESTRICTED CERTIFICATES
____________________
Date
State Street Bank and Trust Company
Corporate Trust Department
225 Franklin Street
8th Floor
Boston, Massachusetts 02110
Re: GE Capital Mortgage Services, Inc.
REMIC Multi-Class Pass Through
Certificates, Series 1998-19
Ladies and Gentlemen:
1. The undersigned, a [title of officer]
_______________ of [name of Investor] __________________ (the
"Investor"), a ______________ ___________________ [description of
type of entity] duly organized and existing under the laws of the
[State of __________________] [United States], hereby certifies
as follows:
2. The Investor hereby acknowledges that under the
terms of the Pooling and Servicing Agreement between State Street
Bank and Trust Company, as Trustee, and GE Capital Mortgage
Services, Inc. (the "Company"), dated as of October 1, 1998 (the
"Agreement"), no transfer of a Restricted Certificate may be made
unless such transfer is exempt from the registration requirements
of the Securities Act of 1933, as amended (the "Securities Act"),
and any applicable state securities laws, or is made in
accordance with the Securities Act and such laws.
3. The Investor understands that (a) the Restricted
Certificates have not been and will not be registered or
qualified under the Securities Act, or the securities laws of any
state, (b) neither the Company nor the Trustee is required, and
neither intends, to so register or qualify the Restricted
Certificates, (c) the Restricted Certificates cannot be resold
unless (i) they are registered and qualified under the Securities
Act and the applicable state securities laws or (ii) such sale is
exempt from the requirements of the Securities Act, (d) the
Agreement contains restrictions regarding the transfer of the
Restricted Certificates and (e) the Restricted Certificates will
bear a legend to the foregoing effect.
<PAGE>
4. The Investor is acquiring the Restricted
Certificates for its own account for investment only and not with
a view to or for sale or other transfer in connection with any
distribution of the Restricted Certificates in any manner that
would violate the Securities Act or any applicable state
securities laws.
5. The Investor (a) is a substantial, sophisticated
institutional investor having such knowledge and experience in
financial and business matters, and in particular in such matters
related to securities similar to the Restricted Certificates,
such that it is capable of evaluating the merits and risks of
investment in the Restricted Certificates, (b) is able to bear
the economic risks of such an investment and (c) is an
"accredited investor" within the meaning of Rule 501(a)(1), (2),
(3) or (7) promulgated pursuant to the Securities Act.
6. The Investor will not authorize nor has it
authorized any person to (a) offer, pledge, sell, dispose of or
otherwise transfer any Restricted Certificate, any interest in
any Restricted Certificate or any other similar security to any
person in any manner, (b) solicit any offer to buy or to accept a
pledge, disposition or other transfer of any Restricted
Certificate, any interest in any Restricted Certificate or any
other similar security from any person in any manner, (c)
otherwise approach or negotiate with respect to any Restricted
Certificate, any interest in any Restricted Certificate or any
other similar security with any person in any manner, (d) make
any general solicitation by means of general advertising or in
any other manner, or (e) take any other action that would
constitute a distribution of any Restricted Certificate under the
Securities Act, that would render the disposition of any
Restricted Certificate a violation of Section 5 of the Securities
Act or any state securities law, or that could require
registration or qualification pursuant thereto. Neither the
Investor nor anyone acting on its behalf has offered the
Restricted Certificates for sale or made any general solicitation
by means of general advertising or in any other manner with
respect to the Restricted Certificates. The Investor will not
sell or otherwise transfer any of the Restricted Certificates,
except in compliance with the provisions of the Agreement.
7. If an Investor in a Restricted Certificate sells or
otherwise transfers any such Certificate to a transferee other
than a "qualified institutional buyer" under Rule 144A of the
Securities Act, such Investor will obtain (a) from any subsequent
purchaser the same certifications, representations, warranties
and covenants contained in the foregoing paragraphs and in this
paragraph or (b) an opinion of counsel in form and substance
satisfactory to the Trustee pursuant to the Agreement.
8. The Investor hereby indemnifies the Trustee and the
Company against any liability that may result if the Investor's
transfer of a Restricted Certificate (or any portion thereof) is
not exempt from the registration requirements of the Securities
Act and any applicable state securities laws or is not made in
accordance with such federal and state laws. Such indemnification
of the Trustee and the Company shall survive the termination of
the Agreement.
[9. The Restricted Certificates shall be registered in
the name of _____________________________ as nominee for the
Investor.]
I-2
<PAGE>
IN WITNESS WHEREOF, the Investor has caused this
instrument to be executed on its behalf, pursuant to authority of
its Board of Directors, by its [title of officer] _____________
this _____ day of __________, 19__.
_________________________________
[name of Investor]
By:______________________________
Name:
Title:
The undersigned hereby
acknowledges that it is holding
and will hold the Restricted
Certificates at the exclusive
direction of and as nominee
of the Investor named above.
_____________________________
[name of nominee]
By:__________________________
Name:
Title:
I-3
<PAGE>
EXHIBIT J
FORM OF DISTRIBUTION DATE STATEMENT
_________________, ______
(month) (year)
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC Multi-Class Pass-Through Certificates,
Series 1998-19
Pursuant to the Pooling and Servicing Agreement dated
as of October 1, 1998 (the "Agreement") between GE Capital
Mortgage Services, Inc. (the "Company"), and State Street Bank
and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the
Determination Date for this month:
The amounts below are for a Single Certificate of
$1,000:
(1) Amount of distribution allocable to principal:
Class A1 $__________
Class A2 $__________
Class A3 $__________
Class A4 $__________
Class A5 $__________
Class A6 $__________
Class A7 $__________
Class A8 $__________
Class A9 $__________
Class A10 $__________
Class A11 $__________
Class A12 $__________
Class PO $__________
Class M $__________
Class B1 $__________
Class B2 $__________
Class B3 $__________
Class B4 $__________
Class B5 $__________
Class R $__________
<PAGE>
(2) Aggregate principal prepayments included in
distribution:
Class A1 $__________
Class A2 $__________
Class A3 $__________
Class A4 $__________
Class A5 $__________
Class A6 $__________
Class A7 $__________
Class A8 $__________
Class A9 $__________
Class A10 $__________
Class A11 $__________
Class A12 $__________
Class PO $__________
Class M $__________
Class B1 $__________
Class B2 $__________
Class B3 $__________
Class B4 $__________
Class B5 $__________
Class R $__________
(3) Amount of distribution allocable to interest;
Pay-out Rate:
Class A1 $__________ ____%
Class A2 $__________ ____%
Class A3 $__________ ____%
Class A4 $__________ ____%
Class A5 $__________ ____%
Class A6 $__________ ____%
Class A7 $__________ ____%
Class A8 $__________ ____%
Class A9 $__________ ____%
Class A10 $__________ ____%
Class A11 $__________ ____%
Class A12 $__________ ____%
Class M $__________ ____%
Class B1 $__________ ____%
Class B2 $__________ ____%
Class B3 $__________ ____%
Class B4 $__________ ____%
Class B5 $__________ ____%
Class R $__________ ____%
J-2
<PAGE>
(4) Accrual Amount:
Class A9 $__________
(5) Amount of distribution allocable to Unanticipated
Recoveries:
Class A1 $__________ ____%
Class A2 $__________ ____%
Class A3 $__________ ____%
Class A4 $__________ ____%
Class A5 $__________ ____%
Class A6 $__________ ____%
Class A7 $__________ ____%
Class A8 $__________ ____%
Class A9 $__________ ____%
Class A10 $__________ ____%
Class A11 $__________ ____%
Class A12 $__________ ____%
Class PO $__________ ____%
Class M $__________ ____%
Class B1 $__________ ____%
Class B2 $__________ ____%
Class B3 $__________ ____%
Class B4 $__________ ____%
Class B5 $__________ ____%
Class R $__________ ____%
(6) Servicing Compensation: $__________
The amounts below are for the aggregate of all
Certificates:
(7) Pool Scheduled Principal
Balance; number of
Mortgage Loans: $__________ __________
(8) Class Certificate Principal Balance
(or Notional Principal Balance) of
each Class; Certificate Principal
Balance (or Notional Principal
Balance) of Single Certificate of
each Class:
J-3
<PAGE>
Single
Certificate
Class Balance Balance
----- ------- -----------
Class A1 $__________ $__________
Class A2 $__________ $__________
Class A3 $__________ $__________
Class A4 $__________ $__________
Class A5 $__________ $__________
Class A6 $__________ $__________
Class A7 $__________ $__________
Class A8 $__________ $__________
Class A9 $__________ $__________
Class A10 $__________ $__________
Class A11 $__________ $__________
Class A12 $__________ $__________
Class PO $__________ $__________
Class M $__________ $__________
Class B1 $__________ $__________
Class B2 $__________ $__________
Class B3 $__________ $__________
Class B4 $__________ $__________
Class B5 $__________ $__________
Class R $__________ $__________
(9) Book value of real estate
acquired on behalf of
Certificate-holders; number
of related Mortgage
Loans: $__________ __________
(10) Aggregate Scheduled
Principal Balance and number
of delinquent Mortgage Loans:
30-59 days delinquent $__________ __________
60-89 days delinquent $__________ __________
90 or more days delinquent $__________ __________
In foreclosure $__________ __________
(11) Aggregate Scheduled
Principal Balance and
number of replaced Mortgage
Loans: $__________ __________
J-4
<PAGE>
(12) Aggregate Scheduled
Principal Balance and
number of modified Mortgage
Loans: $__________ __________
(13) Senior Percentage for
such Distribution Date: __________%
(14) Senior Prepayment Percentage
for such Distribution Date: __________%
(15) Group II Senior Percentage
for such Distribution Date: __________%
(16) Group II Senior Scheduled
Distribution Percentage for
such Distribution Date: __________%
(17) Group II Senior Prepayment
Distribution Percentage for
such Distribution Date: __________%
(18) Junior Percentage for such
Distribution Date: __________%
(19) Junior Prepayment Percentage
for such Distribution Date: __________%
Capitalized terms used in this Statement shall have
the same meanings as in the Agreement.
J-5
<PAGE>
EXHIBIT K
FORM OF SPECIAL SERVICING
AND COLLATERAL FUND AGREEMENT
This SPECIAL SERVICING AND COLLATERAL FUND AGREEMENT
(the "Agreement") is made and entered into as of
____________________, 199_, between GE Capital Mortgage Services,
Inc. (the "Company") and _____________________________ (the
"Purchaser").
PRELIMINARY STATEMENT
___________________________ or an affiliate thereof is
the holder of the entire interest in REMIC Multi-Class
Pass-Through Certificates, Series 199_-__, Class B_ (the "Class
B_ Certificates"). The Class B_ Certificates were issued pursuant
to a Pooling and Servicing Agreement (the "Pooling and Servicing
Agreement") dated as of ________ 1, 199_ between the Company (in
its capacity as servicer thereunder, the "Servicer") and State
Street Bank and Trust Company as Trustee.
____________________________ or an affiliate thereof
intends to resell all of the Class B_ Certificates directly to
the Purchaser on or promptly after the date hereof.
In connection with such sale, the parties hereto have
agreed that the Company, as Servicer, will engage in certain
special servicing procedures relating to foreclosures for the
benefit of the Purchaser, and that the Purchaser will deposit
funds in a collateral fund to cover any losses attributable to
such procedures as well as all advances and costs in connection
therewith, as set forth herein.
[The parties hereto have further agreed that the
Purchaser will have no rights, and the Company will have no
obligations under this Agreement until the Class Certificate
Principal Balance of the REMIC Multi-Class Pass-Through
Certificates, Series 199_-__, Class B5 (the "Class B5
Certificates") has been reduced to zero, and any Special
Servicing and Collateral Fund Agreement in respect of such Class
between the Company and the Purchaser has been terminated.]
In consideration of the mutual agreements herein
contained, the receipt and sufficiency of which are hereby
acknowledged, the Company and the Purchaser agree that the
following provisions shall become effective and shall be binding
on and enforceable by the Company and the Purchaser upon the
acquisition by the Purchaser of the Class B_ Certificates.
<PAGE>
ARTICLE I
DEFINITIONS
Section 1.01. Defined Terms. Whenever used in this
Agreement, the following words and phrases, unless the context
otherwise requires, shall have the following meanings:
Business Day: Any day other than (i) a Saturday or a
Sunday of (ii) a day on which banking institutions in New York
City or Boston, Massachusetts are required or authorized by law
or executive order to be closed.
Collateral Fund: The fund established and maintained
pursuant to Section 3.01 hereof.
Collateral Fund Permitted Investments: Either (i)
obligations of, or obligations fully guaranteed as to principal
and interest by, the United States, or any agency or
instrumentality thereof, provided such obligations are backed by
the full faith and credit of the United States, (ii) repurchase
agreements on obligations specified in clause (i) provided that
the unsecured obligations of the party agreeing to repurchase
such obligations are at the time rated by each Rating Agency in
the highest long-term rating category, (iii) federal funds,
certificates of deposit, time deposits and banker's acceptances
of any U.S. depository institution or trust company incorporated
under the laws of the United States or any state provided that
the debt obligations of such depository institution or trust
company at the date of acquisition thereof have been rated by
each Rating Agency in the highest long-term rating category, (iv)
commercial paper of any corporation incorporated under the laws
of the United States or any state thereof which on the date of
acquisition has the highest short term rating of each Rating
Agency, and (v) other obligations or securities that are
acceptable to each Rating Agency as a Collateral Fund Permitted
Investment hereunder and will not, as evidenced in writing,
result in a reduction or withdrawal in the then current rating of
the Certificates and, for each of the preceding clauses, the
maturity thereof shall be not later than the earlier to occur of
(A) 30 days from the date of the related investment and (B) the
Business Day preceding the next succeeding Distribution Date.
Commencement of Foreclosure: The first official action
required under local law in order to commence foreclosure
proceedings or to schedule a trustee's sale under a deed of
trust, including (i) in the case of a mortgage, any filing or
service of process necessary to commence an action to foreclose,
or (ii) in the case of a deed of trust, the posting, publishing,
filing or delivery of a notice of sale, but not including in
either case (x) any notice of default, notice of intent to
foreclose or sell or any other action prerequisite to the actions
specified in (i) or (ii) above and, upon the consent of the
Purchaser which will be deemed given unless expressly withheld
within two Business Days of notification, (y) the acceptance of a
deed-in-lieu of foreclosure (whether in connection with a sale of
the related property or otherwise) or (z) initiation and
completion of a short pay-off.
Current Appraisal: With respect to any Mortgage Loan
as to which the Purchaser has made an Election to Delay
Foreclosure, an appraisal of the related Mortgaged Property
K-2
<PAGE>
obtained by the Purchaser as nearly contemporaneously as
practicable to the time of the Purchaser's election, prepared
based on the Company's customary requirements for such
appraisals.
Election to Delay Foreclosure: Any election by the
Purchaser to delay the Commencement of Foreclosure, made in
accordance with Section 2.02(b).
Election to Foreclose: Any election by the Purchaser
to proceed with the Commencement of Foreclosure, made in
accordance with Section 2.03(a).
Required Collateral Fund Balance: As of any date of
determination, an amount equal to the aggregate of all amounts
previously required to be deposited in the Collateral Fund
pursuant to Section 2.02(d) (after adjustments for all
withdrawals and deposits prior to such date pursuant to Section
2.02(e)) and Section 2.03(b) (after adjustment for all
withdrawals and deposits prior to such date pursuant to Section
2.03(c)) and Section 3.02, reduced by all withdrawals therefrom
prior to such date pursuant to Section 2.02(g) and Section
2.03(d).
Section 1.02. Definitions Incorporated by Reference.
All capitalized terms not otherwise defined in this Agreement
shall have the meanings assigned in the Pooling and Servicing
Agreement.
ARTICLE II
SPECIAL SERVICING PROCEDURES
Section 2.01. Reports and Notices.
(a) In connection with the performance of its duties under
the Pooling and Servicing Agreement relating to the realization
upon defaulted Mortgage Loans, the Company as Servicer shall
provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each Distribution
Date (or included in or with the monthly statements to
Certificateholders pursuant to the Pooling and Servicing
Agreement), the Company, as Servicer, shall provide to the
Purchaser a report, using the same methodology and
calculations in its standard servicing reports, indicating
for the Trust Fund the number of Mortgage Loans that are
(A) thirty days, (B) sixty days, (C) ninety days or more
delinquent or (D) in foreclosure, and indicating for each
such Mortgage Loan the loan number and outstanding
principal balance.
(ii) Prior to the Commencement of Foreclosure in
connection with any Mortgage Loan, the Company shall
provide the Purchaser with a notice (sent by facsimile
transmission) of such proposed and imminent foreclosure,
stating the loan number and the aggregate amount owing
under the Mortgage Loan. Such notice may be provided to the
Purchaser in the form of a copy of a referral letter from
the Company to an attorney
K-3
<PAGE>
requesting the institution of foreclosure or a copy of a
request to foreclose received by the Company from the
related primary servicer which has been approved by the
Company.
(b) If requested by the Purchaser, the Company shall make
its servicing personnel available (during their normal business
hours) to respond to reasonable inquiries, in writing by
facsimile transmission, by the Purchaser in connection with any
Mortgage Loan identified in a report under subsection (a)(i) or
(a)(ii) which has been given to the Purchaser, provided, that (1)
the Company shall only be required to provide information that is
readily accessible to its servicing personnel and is non-
confidential and (2) the Company shall respond within five
Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company shall provide
to the Purchaser such information as the Purchaser may reasonably
request concerning each Mortgage Loan that is at least sixty days
delinquent and each Mortgage Loan which has become real estate
owned, through the final liquidation thereof, provided, that the
Company shall only be required to provide information that is
readily accessible to its servicing personnel and is
non-confidential.
Section 2.02. Purchaser's Election to Delay Foreclosure
Proceedings.
(a) The Purchaser shall be deemed to direct the Company
that in the event that the Company does not receive written
notice of the Purchaser's election pursuant to subsection (b)
below within 24 hours (exclusive of any intervening non-Business
Days) of transmission of the notice provided by the Company under
Section 2.01(a)(ii) subject to extension as set forth in Section
2.02(b), the Company may proceed with the Commencement of
Foreclosure in respect of such Mortgage Loan in accordance with
its normal foreclosure policies without further notice to the
Purchaser. Any foreclosure that has been initiated may be
discontinued (i) without notice to the Purchaser if the Mortgage
Loan has been brought current or if a refinancing or prepayment
occurs with respect to the Mortgage Loan (including by means of a
short payoff approved by the Company) or (ii) with notice to the
Purchaser if the Company has reached the terms of a forbearance
agreement with the borrower. In such latter case the Company may
complete such forbearance agreement unless instructed otherwise
by the Purchaser within two Business Days of notification.
(b) In connection with any Mortgage Loan with respect to
which a notice under Section 2.01(a)(ii) has been given to the
Purchaser, the Purchaser may elect to instruct the Company to
delay the Commencement of Foreclosure until such time as the
Purchaser determines that the Company may proceed with the
Commencement of Foreclosure. Such election must be evidenced by
written notice received within 24 hours (exclusive of any
intervening non-Business Days) of transmission of the notice
provided by the Company under Section 2.01(a)(ii). The Purchaser
shall send a copy of such notice of election to each Rating
Agency as soon as practicable thereafter. Such 24-hour period
shall be extended for no longer than an additional four Business
Days after the receipt of the information if the Purchaser
requests additional information related to such foreclosure
within such 24-hour period; provided, however, that the Purchaser
will have at least one Business Day to make such election
following its receipt of any requested additional information.
Any such additional information shall (i) not
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<PAGE>
be confidential in nature and (ii) be obtainable by the Company
from existing reports, certificates or statements or otherwise be
readily accessible to its servicing personnel. The Purchaser
agrees that it has no right to deal with the mortgagor. However,
if the Company's normal foreclosure policies include acceptance
of a deed-in-lieu of foreclosure or short payoff, the Purchaser
will be notified and given two Business Days to respond.
(c) With respect to any Mortgage Loan as to which the
Purchaser has made an Election to Delay Foreclosure, the
Purchaser shall obtain a Current Appraisal as soon as
practicable, and shall provide the Company with a copy of such
Current Appraisal.
(d) Within two Business Days of making any Election to
Delay Foreclosure, the Purchaser shall remit by wire transfer to
the Trustee, for deposit in the Collateral Fund, an amount, as
calculated by the Company, equal to the sum of (i) 125% of the
greater of the Scheduled Principal Balance of the Mortgage Loan
and the value shown in the Current Appraisal referred to in
subsection (c) above (or, if such Current Appraisal has not yet
been obtained, the Company's estimate thereof, in which case the
required deposit under this subsection shall be adjusted upon
obtaining such Current Appraisal), and (ii) three months'
interest on the Mortgage Loan at the applicable Mortgage Rate. If
any Election to Delay Foreclosure extends for a period in excess
of three months (such excess period being referred to herein as
the "Excess Period"), the Purchaser shall remit by wire transfer
in advance to the Trustee for deposit in the Collateral Fund the
amount of each additional month's interest, as calculated by the
Company, equal to interest on the Mortgage Loan as the applicable
Mortgage Rate for the Excess Period. The terms of this Agreement
will no longer apply to the servicing of any Mortgage Loan upon
the failure of the Purchaser to deposit the above amounts
relating to the Mortgage Loan within two Business Days of (i) the
Election to Delay Foreclosure or (ii) the beginning of the
related Excess Period, as the case may be.
(e) With respect to any Mortgage Loan as to which the
Purchaser has made an Election to Delay Foreclosure, the Company
or the Trustee may withdraw from the Collateral Fund from time to
time amounts necessary to reimburse the Company for all related
Monthly Advances and Liquidation Expenses thereafter made by the
Company as Servicer in accordance with the Pooling and Servicing
Agreement. To the extent that the amount of any such Liquidation
Expense is determined by the Company based on estimated costs,
and the actual costs are subsequently determined to be higher,
the Company or the Trustee may withdraw the additional amount
from the Collateral Fund to reimburse the Company. In the event
that the Mortgage Loan is brought current by the mortgagor, the
amounts so withdrawn from the Collateral Fund shall be
redeposited therein as and to the extent that reimbursement
therefor from amounts paid by the mortgagor is not prohibited
pursuant to the Pooling and Servicing Agreement as of the date
hereof. Except as provided in the preceding sentence, amounts
withdrawn from the Collateral Fund to cover Monthly Advances and
Liquidation Expenses shall not be redeposited therein or
otherwise reimbursed to the Purchaser. If and when any such
Mortgage Loan is brought current by the mortgagor, all amounts
remaining in the Collateral Fund in respect of such Mortgage Loan
(after adjustment for all previous withdrawals and
K-5
<PAGE>
deposits pursuant to this subsection and after reimbursement to
the Servicer for all related Monthly Advances) shall be released
to the Purchaser.
(f) With respect to any Mortgage Loan as to which the
Purchaser has made an Election to Delay Foreclosure, the Company
shall continue to service the Mortgage Loan in accordance with
its customary procedures (other than the delay in Commencement of
Foreclosure as provided herein). If and when, following such
election, the Purchaser shall notify the Company that it believes
that it is appropriate to do so, the Company shall proceed with
the Commencement of Foreclosure; provided that, in any event, if
the Mortgage Loan is not brought current by the mortgagor by the
time the loan becomes 6 months delinquent, the Purchaser's
election shall no longer be effective, unless the Purchaser shall
have purchased the related Mortgage Loan promptly following (and
in any event not later than the third Business Day after) the end
of such 6-month period in the manner provided in the following
two sentences, and the Company shall be entitled to proceed with
the Commencement of Foreclosure. Any purchase of such Mortgage
Loan by the Purchaser pursuant to the preceding sentence shall be
at a purchase price equal to the unpaid principal balance of the
Mortgage Loan plus accrued interest at the Mortgage Rate from the
date last paid by the mortgagor. Such purchase price shall be
deposited by the Purchaser into the Collateral Fund in
immediately available funds on the Business Day which is the date
of purchase and the Purchaser shall instruct the Trustee (with
notice to the Company) to withdraw such amount therefrom on such
Business Day and remit the same to the Trust Fund for application
as Liquidation Proceeds pursuant to the Pooling and Servicing
Agreement. Following such withdrawal, all amounts remaining in
the Collateral Fund in respect of such Mortgage Loan (after
adjustment for all previous withdrawals and deposits pursuant to
this Agreement and after reimbursement to the Servicer for all
related Monthly Advances) shall be released to the Purchaser.
(g) Upon the occurrence of a liquidation with respect to
any Mortgage Loan as to which the Purchaser made an Election to
Delay Foreclosure and as to which the Company proceeded with the
Commencement of Foreclosure in accordance with subsection (f)
above, the Company shall calculate the amount, if any, by which
the value shown on the Current Appraisal obtained under
subsection (c) exceeds the actual sales price obtained for the
related Mortgaged Property (net of Liquidation Expenses and
unreimbursed Monthly Advances related to the extended foreclosure
period), and the Company or the Trustee shall withdraw the amount
of such excess from the Collateral Fund and shall remit the same
to the Trust Fund for application as additional Liquidation
Proceeds pursuant to the Pooling and Servicing Agreement. After
making such withdrawal, all amounts remaining in the Collateral
Fund in respect of such Mortgage Loan (after adjustment for all
withdrawals and deposits pursuant to subsection (e) and after
reimbursement to the Servicer for all related Monthly Advances)
shall be released to the Purchaser.
Section 2.03. Purchaser's Election to Commence Foreclosure
Proceedings.
(a) In connection with any Mortgage Loan identified in a
report under Section 2.01(a)(i)(B), the Purchaser may elect to
instruct the Company to proceed with the
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<PAGE>
Commencement of Foreclosure as soon as practicable. Such election
must be evidenced by written notice received by the Company by
5:00 p.m., New York City time, on the third Business Day
following the delivery of such report under Section 2.01(a)(i).
(b) Within two Business Days of making any Election to
Foreclose, the Purchaser shall remit to the Trustee, for deposit
in the Collateral Fund, an amount, as calculated by the Company,
equal to 125% of the current Scheduled Principal Balance of the
Mortgage Loan and three months' interest on the Mortgage Loan at
the applicable Mortgage Rate. If and when any such Mortgage Loan
is brought current by the mortgagor, all amounts in the
Collateral Fund in respect of such Mortgage Loan (after
adjustment for all withdrawals and deposits pursuant to
subsection (c) below) shall be released to the Purchaser. The
terms of this Agreement will no longer apply to the servicing of
any Mortgage Loan upon the failure of the Purchaser to deposit
the above amounts relating to the Mortgage Loan within two
Business Days of the Election to Foreclose.
(c) With respect to any Mortgage Loan as to which the
Purchaser has made an Election to Foreclose, the Company shall
continue to service the Mortgage Loan in accordance with its
customary procedures. In connection therewith, the Company shall
have the same rights to make withdrawals for Monthly Advances and
Liquidation Expenses from the Collateral Fund as are provided
under Section 2.02(e), and the Company shall make reimbursements
thereto to the limited extent provided under such subsection. The
Company shall not be required to proceed with the Commencement of
Foreclosure if (i) the same is stayed as a result of the
mortgagor's bankruptcy or is otherwise barred by applicable law,
or to the extent that all legal conditions precedent thereto have
not yet been complied with, or (ii) the Company believes there is
a breach of representations or warranties by the Company, which
may result in a repurchase or substitution of such Mortgage Loan,
or (iii) the Company has or expects to have the right under the
Pooling and Servicing Agreement to purchase the defaulted
Mortgage Loan and intends to exercise such right or (iv) the
Company reasonably believes the Mortgaged Property may be
contaminated with or affected by hazardous wastes or hazardous
substances (and the Company supplies the Purchaser with
information supporting such belief) or (v) the same is prohibited
by or is otherwise inconsistent with the provisions of the
Pooling and Servicing Agreement. Any foreclosure that has been
initiated may be discontinued (i) without notice to the Purchaser
if the Mortgage Loan has been brought current or if a refinancing
or prepayment occurs with respect to the Mortgage Loan (including
by means of a short payoff approved by the Purchaser) or (ii)
with notice to the Purchaser if the Company has reached the terms
of a forbearance agreement unless instructed otherwise by the
Purchaser within two Business Days of notification.
(d) Upon the occurrence of a liquidation with respect to
any Mortgage Loan as to which the Purchaser made an Election to
Foreclose and as to which the Company proceeded with the
Commencement of Foreclosure in accordance with subsection (c)
above, the Company shall calculate the amount, if any, by which
the Scheduled Principal Balance of the Mortgage Loan at the time
of liquidation (plus all unreimbursed Monthly Advances and
Liquidation Expenses in connection therewith other than those
previously paid from the Collateral Fund) exceeds the actual
sales price obtained for the related Mortgaged Property, and the
Company or the Trustee
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<PAGE>
shall withdraw the amount of such excess from the Collateral Fund
and shall remit the same to the Trust Fund for application as
additional Liquidation Proceeds pursuant to the Pooling and
Servicing Agreement. After making such withdrawal, all amounts
remaining in the Collateral Fund (after adjustment for all
withdrawals and deposits pursuant to subsection (c) above and
after reimbursement to the Servicer for all related Monthly
Advances) in respect of such Mortgage Loan shall be released to
the Purchaser.
Section 2.04. Termination.
(a) With respect to all Mortgage Loans included in the
Trust Fund, the Purchaser's right to make any Election to Delay
Foreclosure or any Election to Foreclose and the Company's
obligations under Section 2.01 shall terminate on the earliest to
occur of the following: (i) at such time as the Class Certificate
Principal Balance of the Class B_ Certificates has been reduced
to zero, (ii) if the greater of (x) 43% (or such lower or higher
percentage that represents the Company's actual loss experience
with respect to the Mortgage Loans in the related pool) of the
aggregate principal balance of all Mortgage Loans that are in
foreclosure or are more than 90 days delinquent on a contractual
basis and the aggregate book value of REO properties or (y) the
aggregate amount that the Company estimates through its normal
servicing practices will be required to be withdrawn from the
Collateral Fund with respect to Mortgage Loans as to which the
Purchaser has made an Election to Delay Foreclosure or an
Election to Foreclose exceeds (z) the then-current Class
Certificate Principal Balance of the Class B_ Certificates, or
(iii) upon any transfer by the Purchaser of any interest (other
than the minority interest therein, but only if the transferee
provides written acknowledgment to the Company of the Purchaser's
right hereunder and that such transferee will have no rights
hereunder) in the Class B_ Certificates [or in the Class B5
Certificates] (whether or not such transfer is registered under
the Pooling and Servicing Agreement), including any such transfer
in connection with a termination of the Trust Fund. Unless
earlier terminated as set forth herein, this Agreement and the
respective rights, obligations and responsibilities of the
Purchaser and the Company hereunder shall terminate immediately
upon (x) the later to occur of (i) the final liquidation of the
last Mortgage Loan as to which the Purchaser made any Election to
Delay Foreclosure or any Election to Foreclose and the withdrawal
of all remaining amounts in the Collateral Fund as provided
herein and (ii) ten (10) Business Days' notice or (y) the
occurrence of any event that results in the Purchaser becoming an
"affiliate" of the Trustee within the meaning of the Prohibited
Transaction Exemption (as defined in the Pooling and Servicing
Agreement).
(b) The Purchaser's rights pursuant to Section 2.02 or 2.03
of this Agreement shall terminate with respect to a Mortgage Loan
as to which the Purchaser has exercised its rights under Section
2.02 or 2.03 hereof, upon Purchaser's failure to deposit any
amounts required pursuant to Section 2.02(d) or 2.03(b) after one
Business Day's notice of such failure.
Section 2.05. Notification. The Purchaser shall promptly
notify the Trustee and the Company if such Purchaser becomes
aware of any discussions, plans or events that might lead to such
Person's becoming an "affiliate" (within the meaning of the
Prohibited Transaction
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<PAGE>
Exemption) of the Trustee, provided that the contents of any such
notification shall be kept confidential by the parties to this
Agreement.
ARTICLE III
COLLATERAL FUND; SECURITY INTEREST
Section 3.01. Collateral Fund. Upon payment by the
Purchaser of the initial amount required to be deposited in the
Collateral Fund pursuant to Article II, the Company shall request
the Trustee to establish and maintain with the Trustee a
segregated account entitled "REMIC Multi-Class Pass-Through
Certificates 199_-__ Collateral Fund, for the benefit of GE
Capital Mortgage Services, Inc. and State Street Bank and Trust
Company on behalf of Certificateholders, as secured parties" (the
"Collateral Fund"). Amounts held in the Collateral Fund shall
continue to be the property of the Purchaser, subject to the
first priority security interest granted hereunder for the
benefit of such secured parties, until withdrawn from the
Collateral Fund pursuant to the Section 2.02 or 2.03 hereof.
Upon the termination of this Agreement and the
liquidation of all Mortgage Loans as to which the Purchaser has
made any Election to Delay Foreclosure or any Election to
Foreclose pursuant to Section 2.04 hereof, the Company shall
distribute to the Purchaser all amounts remaining in the
Collateral Fund together with any investment earnings thereon
(after giving effect to all withdrawals therefrom permitted under
this Agreement).
The Purchaser shall not take or direct the Company or
the Trustee to take any action contrary to any provision of the
Pooling and Servicing Agreement. In no event shall the Purchaser
(i) take or cause the Trustee or the Company to take any action
that could cause any REMIC established under the Pooling and
Servicing Agreement to fail to qualify as a REMIC or cause the
imposition on any such REMIC of any "prohibited transaction" or
"prohibited contribution" taxes or (ii) cause the Trustee or the
Company to fail to take any action necessary to maintain the
status of any such REMIC as a REMIC.
Section 3.02. Collateral Fund Permitted Investments. The
Company shall, at the written direction of the Purchaser, direct
the Trustee to invest the funds in the Collateral Fund in the
name of the Trustee in Collateral Fund Permitted Investments.
Such direction shall not be changed more frequently then
quarterly. In the absence of any direction, the Company shall
direct the Trustee select such investments in accordance with the
definition of Collateral Fund Permitted Investments in its
discretion
All income and gain realized from any investment as
well as any interest earned on deposits in the Collateral Fund
(net of any losses on such investments) and any payments of
principal made in respect of any Collateral Fund Permitted
Investment shall be deposited in the Collateral Fund upon
receipt. All costs and realized losses associated with the
purchase and sale of Collateral Fund Permitted Investments shall
be borne by the Purchaser and the amount of net realized losses
shall be promptly deposited by the Purchaser in the Collateral
Fund. The Company shall periodically (but not more frequently
than monthly) direct the Trustee to
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<PAGE>
distribute to the Purchaser upon request an amount of cash, to
the extent cash is available therefor in the Collateral Fund,
equal to the amount by which the balance of the Collateral Fund,
after giving effect to all other distributions to be made from
the Collateral Fund on such date, exceeds the Required Collateral
Fund Balance. Any amounts so distributed shall be released from
the lien and security interest of this Agreement.
Section 3.03. Grant of Security Interest. In order to
secure the obligations of the Purchaser hereunder to the Company
and the Trustee for the benefit of Certificateholders (other than
its obligations under Section 4.10), the Purchaser hereby grants
to the Company and to the Trustee for the benefit of the
Certificateholders a security interest in and lien on all of the
Purchaser's right, title and interest, whether now owned or
hereafter acquired, in and to: (1) the Collateral Fund, (2) all
amounts deposited in the Collateral Fund and Collateral Fund
Permitted Investments in which such amounts are invested (and the
distributions and proceeds of such investments) and (3) all cash
and non-cash proceeds of any of the foregoing, including proceeds
of the voluntary or involuntary conversion thereof (all of the
foregoing collectively, the "Collateral").
The Purchaser acknowledges the lien on and security
interest in the Collateral for the benefit of the Company and the
Trustee on behalf of the Certificateholders. The Purchaser shall
take all actions requested by the Company or the Trustee as may
be reasonably necessary to perfect the security interest created
under this Agreement in the Collateral and cause it to be prior
to all other security interests and liens, including the
execution and delivery to the Company or at its direction the
Trustee for filing of appropriate financing statements in
accordance with applicable law.
Section 3.04. Collateral Shortfalls. In the event that
amounts on deposit in the Collateral Fund at any time are
insufficient to cover any withdrawals therefrom that the Company
or the Trustee is then entitled to make hereunder, the Purchaser
shall be obligated to pay such amounts to the Company or the
Trustee immediately upon demand. Such obligation shall constitute
a general corporate obligation of the Purchaser. The failure to
pay such amounts within two Business Days of such demand (except
for amounts to cover interest on a Mortgage Loan pursuant to
Sections 2.02(d) and 2.03(b)), shall cause an immediate
termination of the Purchaser's right to make any Election to
Delay Foreclosure or Election to Foreclose and the Company's
obligations under this Agreement with respect to all Mortgage
Loans to which such insufficiencies relate, without the necessity
of any further notice or demand on the part of the Company.
ARTICLE IV
MISCELLANEOUS PROVISIONS
Section 4.01. Amendment. This Agreement may be amended from
time to time by the Company and the Purchaser by written
agreement signed by the Company and the Purchaser provided that
no such amendment shall have a material adverse effect on the
holders of other Classes of Certificates.
K-10
<PAGE>
Section 4.02. Counterparts. This Agreement may be executed
simultaneously in any number of counterparts, each of which
counterparts shall be deemed to be an original, and such
counterparts shall constitute but one and the same instrument.
Section 4.03. Governing Law. This Agreement shall be
construed in accordance with the laws of the State of New York
and the obligations, rights and remedies of the parties hereunder
shall be determined in accordance with such laws.
Section 4.04. Notices. All demands, notices and direction
hereunder shall be in writing or by telecopy and shall be deemed
effective upon receipt to:
(a) in the case of the Company, with respect to notices
pursuant to Sections 2.02 and 2.03 hereto,
GE Capital Mortgage Services, Inc.
2000 West Loop South
Suite 1917
Houston, Texas 77027
Attention: Mark Pendergrass
Telephone: (713) 964-4207
Facsimile: (713) 964-4100
with respect to all other notices pursuant to this
Agreement,
GE Capital Mortgage Services, Inc.
Three Executive Campus
Cherry Hill, New Jersey 08002
Attention: General Counsel
Telephone: (609) 661-6515
Facsimile: (609) 661-6875
or such other address as may hereafter be furnished in
writing by the Company, or
(b) in the case of the Purchaser, with respect to notices
pursuant to Section 2.01,
________________________________
________________________________
________________________________
Attention:______________________
Telephone:______________________
Facsimile:______________________
K-11
<PAGE>
with respect to all other notices pursuant to this
Agreement,
________________________________
________________________________
________________________________
Attention:______________________
Telephone:______________________
Facsimile:______________________
or such other address as may hereafter be furnished in
writing by the Purchaser, or
(c) in the case of the Trustee,
State Street Bank and Trust Company
Corporate Trust Department
Two International Place, Fifth Floor
Boston, Massachusetts 02110
Attention: Karen Beard
Telephone: (617) 664-5465
Facsimile: (617) 664-5367
Section 4.05. Severability of Provisions. If any one or
more of the covenants, agreements, provisions or terms of this
Agreement shall be for any reason whatsoever, including
regulatory, held invalid, then such covenants, agreements,
provisions or terms shall be deemed severable from the remaining
covenants, agreements, provisions or terms of this Agreement and
shall in no way affect the validity or enforceability of the
other provisions of this Agreement.
Section 4.06. Successor and Assigns. The provisions of this
Agreement shall be binding upon and inure to the benefit of the
parties hereto and the respective successors and assigns of the
parties hereto; provided, however, that the rights under this
Agreement cannot be assigned by the Purchaser without the consent
of the Company.
Section 4.07. Article and Section Headings. The article and
section headings herein are for convenience of reference only and
shall not limit or otherwise affect the meaning hereof.
Section 4.08. Third Party Beneficiaries. The Trustee on
behalf of Certificateholders is the intended third party
beneficiary of this Agreement.
Section 4.09. Confidentiality. The Purchaser agrees that
all information supplied by or on behalf of the Company pursuant
to Section 2.01 or 2.02, including individual account
information, is the property of the Company and the Purchaser
agrees to use such information solely for the purposes set forth
in this Agreement and to hold such information confidential and
not to disclose such information.
K-12
<PAGE>
Section 4.10. Indemnification. The Purchaser agrees to
indemnify and hold harmless the Company against any and all
losses, claims, damages or liabilities to which it may be
subject, insofar as such losses, claims, damages or liabilities
(or actions in respect thereof) arise out of or are based upon
actions taken by the Company in accordance with the provisions of
this Agreement and which actions conflict or are alleged to
conflict with the Company's obligations under the Pooling and
Servicing Agreement. The Purchaser hereby agrees to reimburse the
Company on demand for the reasonable legal or other expenses
incurred by it in connection with investigating or defending any
such loss, claim, damage, liability or action.
[Section 4.11. Delayed Effectiveness. The Purchaser agrees
that, notwithstanding any other provision of this Agreement, the
Purchaser shall have no rights hereunder, and the Company shall
have no obligations hereunder, until the Class Certificate
Principal Balance of the Class B5 Certificates has been reduced
to zero and any Special Servicing and Collateral Fund Agreement
between the Company and the Purchaser relating to such Class B5
Certificates has been terminated.]
K-13
<PAGE>
IN WITNESS WHEREOF, the Company and the Purchaser have
caused their names to be signed hereto by their respective
officers thereunto duly authorized, all as of the day and year
first above written.
GE CAPITAL MORTGAGE SERVICES, INC.
By:_______________________________
Name:
Title:
[PURCHASER]
By:_______________________________
Name:
Title:
Acknowledged and agreed to:
STATE STREET BANK AND TRUST COMPANY
By:________________________________
Name:
Title:
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<PAGE>
EXHIBIT L
FORM OF LOST NOTE AFFIDAVIT AND AGREEMENT
I, _________________________________________, being
duly sworn, do hereby state under oath that:
1. I am a duly elected ______________________ of GE Capital
Mortgage Services, Inc. (the "Company") and am duly authorized to
make this affidavit.
2. This affidavit is being delivered in connection with the
transfer of the Mortgage Loan described in Paragraph 3 hereof by
the Company pursuant to the Pooling and Servicing Agreement dated
as of [date] between the Company, Seller and Servicer, and State
Street Bank and Trust Company, Trustee, relating to the Company's
REMIC Multi-Class Pass-Through Certificates, Series [____]
("Agreement"). Such Mortgage Loan constitutes a Designated Loan.
3. The Company is the payee under the following described
Mortgage Note ("Mortgage Note") which evidences the obligation of
the borrower(s) to repay the Mortgage Loan:
Loan Number: ___________________________________
Mortgage Note Date:_____________________________
Borrower(s): ___________________________________
Original Payee (if not the Company): ___________
Original Amount:________________________________
Mortgage Rate: _________________________________
Address of Mortgaged Property: _________________
________________________________________________
4. The Company is the lawful owner of the Mortgage Note and
has not cancelled, altered, assigned or hypothecated the Mortgage
Note.
5. A thorough and diligent search for the executed original
Mortgage Note was undertaken and was unsuccessful.
6. Attached hereto is a true and correct copy of the
Mortgage Note.
7. The Mortgage Note has not been endorsed by the Company
in any manner inconsistent with its transfer of the Mortgage Loan
under the Agreement.
8. Without limiting the generality of the rights and
remedies of the Trustee contained in the Agreement, the Company
hereby confirms and agrees that in the event the inability to
produce the executed original Mortgage Note results in a breach
of the representations and warranties appearing in Agreement
subsections 2.03(a)(ii) (the validity and enforceability of the
<PAGE>
lien created by the Mortgage Loan) or (x) (no valid offset,
defense or counterclaim to any Mortgage Note or Mortgage), the
Company shall repurchase the Mortgage Loan at the Purchase Price
and otherwise in accordance with Section 2.03(b) of the
Agreement. In addition, the Company covenants and agrees to
indemnify the Trustee and the Trust Fund from and hold them
harmless against any and all losses, liabilities, damages, claims
or expenses (other than those resulting from negligence or bad
faith of the Trustee) arising from the Company's failure to have
delivered the Mortgage Note to the Trustee, including without
limitation any such losses, liabilities, damages, claims or
expenses arising from any action to enforce the indebtedness
evidenced by the Mortgage Note or any claim by any third party
who is the holder of such indebtedness by virtue of possession of
the Mortgage Note.
9. In the event that the Company locates the executed
original Mortgage Note, it shall promptly provide the Mortgage
Note to the Trustee.
10. Capitalized terms not otherwise defined herein shall
have the meanings given them in the Agreement.
Date: _______________________
_____________________________
(signature)
_____________________________
(print name)
_____________________________
(print title)
L-2
<PAGE>
State of New Jersey )
) ss.:
)
On this ____________________day of ____________,
199__, before me appeared ____________________________, to me
personally known, who acknowledged the execution of the foregoing
and who, having been duly sworn states that he/she is a/the
______________________________of GE Capital Mortgage Services,
Inc., that any representations therein contained are true, that
this Lost Note Affidavit was signed and sealed on behalf of GE
Capital Mortgage Services, Inc. and that this Lost Note Affidavit
is the free act and deed of GE Capital Mortgage Services, Inc.
______________________________
(Notary Public)
[Notarial Seal]
L-3
<PAGE>
EXHIBIT M
SCHEDULE OF DESIGNATED LOANS
None
<PAGE>
EXHIBIT N
SCHEDULE OF PLEDGED ASSET
MORTGAGE LOANS
None
<PAGE>
EXHIBIT O
SENIOR PRINCIPAL PRIORITIES
third, to the Classes of Senior Certificates, in
reduction of the Class Certificate Principal Balances
thereof, to the extent of remaining Available Funds,
concurrently, as follows:
(a) to the Class A1, Class A2, Class A3, Class
A4, Class A5, Class A6, Class A7, Class A8, Class A9,
Class A10, Class A11, Class A12 and Class R
Certificates, the Senior Optimal Principal Amount for
such Distribution Date, in the following order of
priority:
(i) to the Class A12 Certificates (the
"Group II Senior Certificates"), the Group II
Senior Principal Distribution Amount (as defined
herein) for such Distribution Date, until the
Class Certificate Principal Balance thereof has
been reduced to zero; and
(ii) to the Class A1, Class A2, Class A3,
Class A4, Class A5, Class A6, Class A7, Class A8,
Class A9, Class A10, Class A11 and Class R
Certificates (the "Group I Senior Certificates"),
the Senior Optimal Principal Amount for such
Distribution Date, less the Group II Senior
Principal Distribution Amount for such
Distribution Date (such reduced amount, the
"Group I Senior Principal Distribution Amount"),
in the following order of priority:
(A) to the Class R Certificates, until
the Class Certificate Principal Balance
thereof has been reduced to zero;
(B) concurrently, to the Class A1 and
Class A2 Certificates, approximately
50.3263795757% and 49.6736204243%,
respectively, of the remaining Group I
Senior Principal Distribution Amount, until
the Class Certificate Principal Balance of
the Class A1 Certificates has been reduced
to zero;
(C) to the Class A2, Class A3, Class
A4, Class A5, Class A7, Class A8 and Class
A9 Certificates, concurrently as follows:
(I) to the Class A2, Class A3,
Class A4, and Class A5 Certificates,
approximately 83.8347772984% of the
Group I Senior Principal Distribution
Amount remaining after distributions
under clauses (ii)(A) and (ii)(B)
above, for such Distribution Date, in
the following order of
priority:
(1) concurrently, to the
Class A2, Class A3 and Class A4
Certificates, approximately
59.2518069768%, 35.9276331009% and
4.8205599223% respectively, of the
amount available pursuant to
clause (I) above, until the
<PAGE>
Class Certificate Principal
Balance of the Class A4
Certificates has been reduced to
zero; and
(2) pro rata, to the Class
A2, Class A3 and Class A5
Certificates, until the Class C
Certificate Principal Balances
therefore have each been reduced
to zero; and
(II) to the Class A7, Class A8 and
Class A9 Certificates, approximately
16.1652227016% of the Group I Senior
Principal Distribution Amount remaining
after distributions under clauses
(ii)(A) and (ii)(B) above, for such
Distribution Date, in the following
order of priority:
(1) to the Class A7
Certificates, until the Class
Certificate Principal Balance
thereof has been reduced to zero;
(2) to the Class A8
Certificates, until the Class
Certificate Principal Balance
thereof has been reduced to zero;
and
(3) to the Class A9
Certificates, until the Class
Certificate Principal Balance
thereof has been reduced to zero;
and
(D) pro rata, to the Class A6, Class
A10 and Class A11 Certificates, until the
Class Certificate Principal Balances thereof
have each been reduced to zero; and
(b) to the Class PO Certificates, the Class PO
Principal Distribution Amount for such Distribution
Date until the Class Certificate Principal Balance
thereof has been reduced to zero;
2
