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) December 26, 1997
GE CAPITAL MORTGAGE SERVICES, INC.
(as Seller and Servicer under Pooling and
Servicing Agreements each providing for the
issuance of a Series of Mortgage Pass-Through Certificates)
GE Capital Mortgage Services, Inc.
----------------------------------
(formerly known as Travelers Mortgage Services, Inc.)
(Exact name of registrant as specified in its charter)
New Jersey 33-5042 21-0627285
---------- ------- ----------
(State or Other (Commission (I.R.S. Employer
Jurisdiction of File Number) Identification No.)
Incorporation)
Three Executive Campus
Cherry Hill, New Jersey 08002
----------------------- -----
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including
area code (609) 661-6100
<PAGE>
Item 5. Other Events
- ------- ------------
On December 26, 1997 GE Capital Mortgage Services, Inc. ("GECMSI") passed
through to Certificateholders of Mortgage Pass-Through Certificates principal
and interest payments as required for the various Series of Mortgage
Pass-Through Certificates listed below and as detailed in Item 7, Financial
Statements, Pro Forma Financial Information and Exhibits, of this Report.
Series Distribution on Series
- ------ ----------------------
Series 1997-01 $ 8,681,429.35
Series 1997-02 $ 10,994,925.07
Series 1997-03 $ 9,406,276.20
Series 1997-HE-1 $ 4,597,453.69
Series 1997-04 $ 7,201,121.95
Series 1997-05 $ 9,190,471.43
Series 1997-06 $ 7,120,973.53
Series 1997-HE-2 $ 5,647,561.90
Series 1997-07 $ 5,905,231.09
Series 1997-08 $ 8,462,500.61
Series 1997-10 $ 3,338,239.34
Series 1997-HE-3 $ 3,994,494.06
Series 1997-09 $ 12,269,514.38
Series 1997-11 $ 7,232,258.53
Item 7. Financial Statements and Exhibits
- ------- ---------------------------------
Attached as Exhibits to Item 7 are the "Servicer's Certificate" and the
"Distribution Date Statement" filed as part of this Report.
Series Exhibit No. Description
------ ----------- -----------
Series 1997-01 99.1 Servicer's Certificate
99.2 Distribution Date Statement
Series 1997-02 99.3 Servicer's Certificate
99.4 Distribution Date Statement
Series 1997-03 99.5 Servicer's Certificate
99.6 Distribution Date Statement
Series 1997-HE-1 99.7 Servicer's Certificate
99.8 Distribution Date Statement
Series 1997-04 99.9 Servicer's Certificate
99.10 Distribution Date Statement
Series 1997-05 99.11 Servicer's Certificate
99.12 Distribution Date Statement
Series 1997-06 99.13 Servicer's Certificate
99.14 Distribution Date Statement
Series 1997-HE-2 99.15 Servicer's Certificate
99.16 Distribution Date Statement
Series 1997-07 99.17 Servicer's Certificate
99.18 Distribution Date Statement
Series 1997-08 99.19 Servicer's Certificate
99.20 Distribution Date Statement
Series 1997-10 99.21 Servicer's Certificate
99.22 Distribution Date Statement
Series 1997-HE-3 99.23 Servicer's Certificate
99.24 Distribution Date Statement
Series 1997-9 99.25 Servicer's Certificate
99.26 Distribution Date Statement
Series 1997-11 99.27 Servicer's Certificate
99.28 Distribution Date Statement
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
------------------------------------------
Name: Karen Pickett
Title: Vice President,
Investor Reporting
Dated as of : December 29, 1997
<PAGE>
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
- ----------- -----------
99.1 Series 1997-01 Servicer's Certificate
99.2 Series 1997-01 Distribution Date Statement
99.3 Series 1997-02 Servicer's Certificate
99.4 Series 1997-02 Distribution Date Statement
99.5 Series 1997-03 Servicer's Certificate
99.6 Series 1997-03 Distribution Date Statement
99.7 Series 1997-HE-1 Servicer's Certificate
99.8 Series 1997-HE-1 Distribution Date Statement
99.9 Series 1997-04 Servicer's Certificate
99.10 Series 1997-04 Distribution Date Statement
99.11 Series 1997-05 Servicer's Certificate
99.12 Series 1997-05 Distribution Date Statement
99.13 Series 1997-06 Servicer's Certificate
99.14 Series 1997-06 Distribution Date Statement
99.15 Series 1997-HE-2 Servicer's Certificate
99.16 Series 1997-HE-2 Distribution Date Statement
99.17 Series 1997-07 Servicer's Certificate
99.18 Series 1997-07 Distribution Date Statement
99.19 Series 1997-08 Servicer's Certificate
99.20 Series 1997-08 Distribution Date Statement
99.21 Series 1997-10 Servicer's Certificate
99.22 Series 1997-10 Distribution Date Statement
99.23 Series 1997-HE-3 Servicer's Certificate
99.24 Series 1997-HE-3 Distribution Date Statement
99.25 Series 1997-09 Servicer's Certificate
99.26 Series 1997-09 Distribution Date Statement
99.27 Series 1997-11 Servicer's Certificate
99.28 Series 1997-11 Distribution Date Statement
Exhibit 99.1
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
December 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-1
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
(a) Principal ..........................$ 193,118.93
(b) Interest ...........................$ 1,766,208.59
(c) Total ..............................$ 1,959,327.52
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ..........................$ 193,118.93
(b) Interest ...........................$ 1,717,075.59
(c) Total ..............................$ 1,910,194.52
3. Aggregate Principal Prepayments in part received and applied in prior
month: ...................................$ 51,060.07
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ..........................$ 6,681,538.06
(b) Interest ...........................$ 38,636.70
(c) Total ..............................$ 6,720,174.76
5. Aggregate Insurance Proceeds for prior month:
(a) Principal ..........................$ 0.00
(b) Interest ...........................$ 0.00
(c) Total ..............................$ 0.00
<PAGE>
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal ..........................$ 0.00
(b) Interest ...........................$ 0.00
(c) Total ..............................$ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage Loans:
(a) Principal ..........................$ 0.00
(b) Interest ...........................$ 0.00
(c) Total ..............................$ 0.00
8. Aggregate Purchase Prices ( and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal ..........................$ 0.00
(b) Interest ...........................$ 0.00
(c) Total ..............................$ 0.00
9. Pool Scheduled Principal Balance: .......$ 260,935,643.84
10. Available Funds: ........................$ 8,681,429.35
11. Realized Losses for prior month: .........$ 0.00
12. Aggregate Realized Losses:
(a) Deficient Valuations: ................$ 0.00
(b) Special Hazard Losses: ...............$ 0.00
(c) Fraud Losses: ........................$ 0.00
(d) Excess Bankruptcy Losses: ............$ 0.00
(e) Excess Special Hazard Losses: ........$ 0.00
(f) Excess Fraud Losses: .................$ 0.00
(g) Debt Service Reductions: .............$ 0.00
13. Compensating Interest Payment: ...........$ 6,987.40
14. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 1-A1.......$ 0.00 $ 0.00 7.35000000%
Class 1-A2.......$ 126,490.44 $ 0.00 7.35000000%
Class 1-A3.......$ 366,912.00 $ 0.00 7.35000000%
Class 1-A4.......$ 430,429.71 $ 0.00 7.35000000%
Class 1-A5.......$ 64,020.70 $ 0.00 6.25000024%
Class 1-A6.......$ 14,536.46 $ 0.00 6.25000072%
Class 1-A7 ......$ 34,565.15 $ 0.00 2.75000011%
Class 1-A8.......$ 157,156.25 $ 0.00 7.50000000%
Class 1-A9.......$ 145,000.00 $ 0.00 7.25000000%
<PAGE>
Class 1-A10......$ 1,600.00 $ 0.00 0.08000000%
Class 1-A11......$ 3,400.00 $ 0.00 0.17000000%
Class 1-A12......$ 21,750.00 $ 0.00 7.50000000%
Class 1-A13......$ 0.00 $ 0.00 7.50000000%
Class 1-A14......$ 193,750.00 $ 0.00 7.50000000%
Class 1-A15......$ 15,625.00 $ 0.00 7.50000000%
Class 1-M........$ 27,937.37 $ 0.00 7.50000000%
Class 1-B1.......$ 23,282.18 $ 0.00 7.50000000%
Class 1-B2.......$ 20,482.85 $ 0.00 7.50000000%
Class 1-B3.......$ 8,385.56 $ 0.00 7.50000000%
Class 1-B4.......$ 5,586.23 $ 0.00 7.50000000%
Class 1-B5.......$ 7,452.12 $ 0.00 7.50000000%
Class 1-S........$ 85,353.40 $ 0.00 0.42290100%
Class 1-RL.......$ 0.63 $ 0.00 7.50000000%
Class 1-R........$ 0.63 $ 0.00 7.50000000%
15. Accrual Amount:
Class 1-A13A........$ 0.00
Class 1-A13B........$ 1,995.54
16. Principal distributable:
Class 1-A1.....$ 0.00
Class 1-A2.....$ 692,938.15
Class 1-A3.....$ 1,075,822.53
Class 1-A4.....$ 4,518,699.42
Class 1-A5.....$ 628,746.01
Class 1-A6.....$ 0.00
Class 1-A7.....$ 0.00
Class 1-A8.....$ 0.00
Class 1-A9.....$ 0.00
Class 1-A10....$ 0.00
Class 1-A11....$ 0.00
Class 1-A12....$ 0.00
Class 1-A13....$ 0.00
Class 1-A14....$ 0.00
Class 1-A15....$ 0.00
Class 1-PO.....$ 768.11
Class 1-M......$ 3,221.45
Class 1-B1.....$ 2,684.66
Class 1-B2.....$ 2,361.87
Class 1-B3.....$ 966.94
Class 1-B4.....$ 644.15
Class 1-B5.....$ 859.31
Class 1-R......$ 0.00
Class 1-RL.....$ 0.00
17. Additional distributions to the Class 1-R Certificate pursuant to
Section 4.01(b):.....................................$ 0.00
<PAGE>
18. Additional distributions to the Class 1-RL Certificate pursuant to
Section 4.01(b):.....................................$ 0.00
19. Certificate Interest Rates of:
Class 1-S Certificates:..... 0.382400%
20. Draw Amount:
Class A9 ...........................$ 0.00
Class A10 ..........................$ 0.00
21. Distributions of amounts in Reserve Fund to Senior Certificates (other
than the Class PO Certificates) and the Class S Certificates pursuant
to the second paragraph of Section 4.01(g):
Class A1.................... $ 0.00
Class A2.................... $ 0.00
Class A3.................... $ 0.00
Class A4.................... $ 0.00
Class A5.................... $ 0.00
Class A6.................... $ 0.00
Class A7.................... $ 0.00
Class A8.................... $ 0.00
Class A9.................... $ 0.00
Class A10................... $ 0.00
Class A11................... $ 0.00
Class A12................... $ 0.00
Class A13................... $ 0.00
Class A14................... $ 0.00
Class A15................... $ 0.00
Class R..................... $ 0.00
Class RL.................... $ 0.00
Class S..................... $ 0.00
B. Other Amounts:
1. Senior Percentage for such Distribution Date: .......... 94.424772%
2. Group I Senior Percentage for such Distribution Date: .. 94.424772%
3. Group II Senior Percentage for such Distribution Date: . 0.000000%
4. Senior Prepayment Percentage for such Distribution Date: 100.000000%
<PAGE>
5. Group I Senior Prepayment Percentage for such
Distribution Date: ...................................... 100.000000%
6. Group II Senior Prepayment Percentage for such
Distribution Date: ...................................... 0.000000%
7. Junior Percentage for such Distribution Date: ........... 5.575228%
8. Junior Prepayment Percentage for such Distribution Date: 0.000000%
9. Subordinate Certificate Writedown Amount for such
Distribution Date: ......................................$ 0.00
10. Prepayment Distribution Triggers satisfied:
YES NO
--- --
Class 1-B1....... X
Class 1-B2....... X
Class 1-B3....... X
Class 1-B4....... X
Class 1-B5....... X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
-----------------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.2
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
December 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-1
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
The amounts below (other than for Class R) are for a Single Certificate of
$1,000:
1. The amount of such distribution allocable to principal:
Class 1-A1....$ 0.00000000 Class 1-A13....$ 0.00000000
Class 1-A2....$ 32.15937950 Class 1-A14....$ 0.00000000
Class 1-A3....$ 17.95911008 Class 1-A15....$ 0.00000000
Class 1-A4....$ 56.75617238 Class 1-PO.....$ 1.24420507
Class 1-A5....$ 42.81844252 Class 1-M......$ 0.71571873
Class 1-A6....$ 0.00000000 Class 1-B1.....$ 0.71571848
Class 1-A7....$ 0.00000000 Class 1-B2.....$ 0.71571818
Class 1-A8....$ 0.00000000 Class 1-B3.....$ 0.71572169
Class 1-A9....$ 0.00000000 Class 1-B4.....$ 0.71572222
Class 1-A10...$ 0.00000000 Class 1-B5.....$ 0.71572518
Class 1-A11...$ 0.00000000 Class 1-R......$ 0.00000000
Class 1-A12...$ 0.00000000 Class 1-RL.....$ 0.00000000
2. Principal Prepayments included in the above principal distribution
(including the Scheduled Principal Balances of all Defaulted Mortgage
Loans and Defective Mortgage Loans purchased pursuant to Section 2.02,
2.03 (b) or 3.16, respectively, and any amounts deposited pursuant to
Section 2.03(b) in connection with the substitution of any Mortgage
Loans pursuant to Section 2.02 or 2.03(a), the proceeds of which are
being distributed on such Distribution Date):
Class 1-A1....$ 0.00000000 Class 1-A13....$ 0.00000000
Class 1-A2....$ 31.31118523 Class 1-A14....$ 0.00000000
Class 1-A3....$ 17.48544378 Class 1-A15....$ 0.00000000
Class 1-A4....$ 55.25924485 Class 1-PO.....$ 1.21138952
Class 1-A5....$ 41.68911856 Class 1-M......$ 0.00000000
Class 1-A6....$ 0.00000000 Class 1-B1.....$ 0.00000000
Class 1-A7....$ 0.00000000 Class 1-B2.....$ 0.00000000
Class 1-A8....$ 0.00000000 Class 1-B3.....$ 0.00000000
<PAGE>
Class 1-A9....$ 0.00000000 Class 1-B4.....$ 0.00000000
Class 1-A10...$ 0.00000000 Class 1-B5.....$ 0.00000000
Class 1-A11...$ 0.00000000 Class 1-R......$ 0.00000000
Class 1-A12...$ 0.00000000 Class 1-RL.....$ 0.00000000
3. The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 1-A1....$ 0.00000000 Class 1-A13....$ 0.00000000
Class 1-A2....$ 5.87044322 Class 1-A14....$ 6.25000000
Class 1-A3....$ 6.12500000 Class 1-A15....$ 6.25000000
Class 1-A4....$ 5.40632172 Class 1-M......$ 6.20692513
Class 1-A5....$ 4.35989512 Class 1-B1.....$ 6.20692615
Class 1-A6....$ 5.20833393 Class 1-B2.....$ 6.20692424
Class 1-A7....$ 1.97797711 Class 1-B3.....$ 6.20692820
Class 1-A8....$ 6.25000000 Class 1-B4.....$ 6.20692222
Class 1-A9....$ 6.04166667 Class 1-B5.....$ 6.20692175
Class 1-A10...$ 0.06666667 Class 1-R......$ 6.30000000
Class 1-A11...$ 0.14166667 Class 1-RL.....$ 6.30000000
Class 1-A12...$ 6.25000000 Class 1-S......$ 0.28444575
4. Accrual Amount:
Class A13A..................$ 0.00
Class A13B..................$ 1,995.54
5. The amount of servicing compensation received by the Company during
the month preceding the month of distribution: $ 54,721.51
The amounts below are for the aggregate of all Certificates.
6. The Pool Scheduled Principal Balances of each Mortgage Pool on the
preceding Due Date after giving effect to all distributions allocable
to principal made on such Distribution Date: $ 260,935,643.84
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above: 919
<PAGE>
7. The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to (i) all distributions allocable to principal
made on such Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date:
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 1-A1............$ 0.00 $ 0.00
Class 1-A2............$ 19,958,562.89 $ 926.28
Class 1-A3............$ 58,828,177.47 $ 982.04
Class 1-A4............$ 65,755,538.99 $ 825.91
Class 1-A5............$ 11,663,227.92 $ 794.28
Class 1-A6............$ 2,791,000.00 $ 1,000.00
Class 1-A7............$ 14,454,227.92 $ 827.14
Class 1-A8............$ 25,145,000.00 $ 1,000.00
Class 1-A9............$ 24,000,000.00 $ 1,000.00
Class 1-A10...........$ 24,000,000.00 $ 1,000.00
Class 1-A11...........$ 24,000,000.00 $ 1,000.00
Class 1-A12...........$ 3,480,000.00 $ 1,000.00
Class 1-A13...........$ 321,281.81 $ 52.69
Class 1-A14...........$ 31,000,000.00 $ 1,000.00
Class 1-A15...........$ 2,500,000.00 $ 1,000.00
Class 1-PO............$ 603,183.21 $ 977.05
Class 1-M.............$ 4,466,757.73 $ 992.39
Class 1-B1............$ 3,722,463.51 $ 992.39
Class 1-B2............$ 3,274,894.58 $ 992.39
Class 1-B3............$ 1,340,721.99 $ 992.39
Class 1-B4............$ 893,153.06 $ 992.39
Class 1-B5............$ 1,191,480.68 $ 992.39
Class 1-R.............$ 100.00 $ 1,000.00
Class 1-RL............$ 100.00 $ 1,000.00
Class 1-S.............$ 235,294,198.24 $ 859.94
8. The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in lieu of
foreclosure or otherwise, of any REO Mortgage Loan:
book value.......................................$ 0.00
unpaid principal balance.........................$ 0.00
number of related mortgage loans................. 0
<PAGE>
9. The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the month
preceding the related Determination Date, were:
(a) delinquent
(1) 30-59 days
Number 7 Principal Balance $ 1,935,900.83
(2) 60-89 days
Number 4 Principal Balance $ 1,174,161.91
(3) 90 days or more
Number 0 Principal Balance $ 0.00
(b) in foreclosure
Number 4 Principal Balance $ 1,485,098.83
10. The Scheduled Principal Balance of any Mortgage Loan replaced pursuant
to Section 2.03(b), and of any Modified Mortgage Loan purchased
pursuant to Section 3.01(c): $ 0.00
11. The Certificate Interest Rates, applicable to the Interest Accrual
Period relating to such Distribution Date:
Class 1-S: ........................ 0.382400%
1. Senior Percentage for such Distribution Date: ....... 94.42477200%
2. Group I Senior Percentage for such Distribution Date: 94.42477200%
3. Group II Senior Percentage for such Distribution Date: 0.00000000%
4. Senior Prepayment Percentage for such Distribution
Date: ...............................................100.00000000%
5. Group I Senior Prepayment Percentage for such
Distribution Date: ..................................100.00000000%
6. Group II Senior Prepayment Percentage for such
Distribution Date: .................................. 0.00000000%
7. Junior Percentage for such Distribution Date: ....... 5.57522800%
8. Junior Prepayment Percentage for such Distribution
Date: ............................................... 0.00000000%
Exhibit 99.3
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
December 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-2
Pursuant to the Pooling and Servicing Agreement dated as of February 1,
1997 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company") and State Street Bank and Trust Company (the "Trustee"), governing
the Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
Pool 1 Pool 2
------ ------
(a) Principal .....................$ 305,236.80 $ 270,769.94
(b) Interest ......................$ 2,704,295.68 $ 503,513.41
(c) Total .........................$ 3,009,532.48 $ 774,283.35
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal .....................$ 305,236.80 $ 270,769.94
(b) Interest ......................$ 2,624,443.59 $ 488,280.04
(c) Total .........................$ 2,929,680.39 $ 759,049.98
3. Aggregate Principal Prepayments in part received and applied in the
applicable Prepayment Period:........$ 152,824.98 $ 50,546.94
4. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal .....................$ 5,769,823.22 $ 1,290,288.32
(b) Interest ......................$ 35,477.06 $ 7,234.18
(c) Total .........................$ 5,805,300.28 $ 1,297,522.50
<PAGE>
5. Aggregate Insurance Proceeds (including purchases of Mortgage Loans by
primary mortgage insurers) for prior month:
Pool 1 Pool 2
------ ------
(a) Principal .....................$ 0.00 $ 0.00
(b) Interest ......................$ 0.00 $ 0.00
(c) Total .........................$ 0.00 $ 0.00
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal .....................$ 0.00 $ 0.00
(b) Interest ......................$ 0.00 $ 0.00
(c) Total .........................$ 0.00 $ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage Loans:
(a) Principal .....................$ 0.00 $ 0.00
(b) Interest ......................$ 0.00 $ 0.00
(c) Total .........................$ 0.00 $ 0.00
8. Aggregate Purchase Prices (and subsitution adjustments) for Defective
Mortgage Loans:
(a) Principal .....................$ 0.00 $ 0.00
(b) Interest ......................$ 0.00 $ 0.00
(c) Total .........................$ 0.00 $ 0.00
9. Pool Scheduled Principal Balance:....$405,169,394.43 $ 78,307,610.45
10. Available Funds: ...................$ 8,887,805.65 $ 2,107,119.42
11. Realized Losses for Prior Month: ...$ 0.00 $ 0.00
12. Aggregrate Realized Losses and Debt Service Reductions:
(a) Deficient Valuations ...........$ 0.00 $ 0.00
(b) Special Hazard Losses ...........$ 0.00 $ 0.00
(c) Fraud Losses ...................$ 0.00 $ 0.00
(d) Excess Bankruptcy Losses .......$ 0.00 $ 0.00
(e) Excess Special Hazard Losses ...$ 0.00 $ 0.00
(f) Excess Fraud Losses ............$ 0.00 $ 0.00
(g) Debt Service Reductions .........$ 0.00 $ 0.00
<PAGE>
13. Compensating Interest Payment: .....$ 3,819.01 $ 1,490.57
14. Accrued Certificate Interest, unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 1-A1....$ 278,136.18 $ 0.00 6.50000000%
Class 1-A2....$ 369,154.15 $ 0.00 6.75000000%
Class 1-A3....$ 32,593.78 $ 0.00 7.50000000%
Class 1-A4....$ 305,762.25 $ 0.00 7.00000000%
Class 1-A5....$ 145,340.51 $ 0.00 7.50000000%
Class 1-A6....$ 107,886.35 $ 0.00 7.50000000%
Class 1-A7....$ 353,161.83 $ 0.00 7.50000000%
Class 1-A8....$ 4,677.39 $ 0.00 7.00000000%
Class 1-A9....$ 1,336.40 $ 0.00 10.00000000%
Class 1-A10...$ 12,323.23 $ 0.00 7.50000000%
Class 1-A11...$ 135,517.59 $ 0.00 7.50000000%
Class 1-A12...$ 36,793.61 $ 0.00 7.50000000%
Class 1-A13...$ 11,315.00 $ 0.00 7.75000000%
Class 1-A14...$ 1,460.00 $ 0.00 6.00000000%
Class 1-A15...$ 0.00 $ 0.00 7.50000000%
Class 1-A16...$ 260,666.59 $ 0.00 7.50000000%
Class 1-A17...$ 18,619.04 $ 0.00 7.50000000%
Class 1-S.....$ 95,068.77 $ 0.00 0.31470200%
Class 1-M.....$ 55,900.57 $ 0.00 7.50000000%
Class 1-B1....$ 27,947.18 $ 0.00 7.50000000%
Class 1-B2....$ 27,947.18 $ 0.00 7.50000000%
Class 1-B3....$ 13,976.68 $ 0.00 7.50000000%
Class 1-B4....$ 4,195.49 $ 0.00 7.50000000%
Class 1-B5....$ 9,785.39 $ 0.00 7.50000000%
Class 1-R.....$ 0.00 $ 0.00 7.50000000%
Class 1-RL....$ 0.00 $ 0.00 7.50000000%
Class 2-A1....$ 70,696.69 $ 0.00 7.00000000%
Class 2-A2....$ 71,299.58 $ 0.00 6.50000000%
Class 2-A3....$ 69,501.25 $ 0.00 6.50000000%
Class 2-A4....$ 10,830.83 $ 0.00 7.00000000%
Class 2-A5....$ 136,584.24 $ 0.00 7.00000000%
Class 2-A6....$ 41,515.98 $ 0.00 7.00000000%
Class 2-A7....$ 51,012.39 $ 0.00 7.00000000%
Class 2-S.....$ 30,040.74 $ 0.00 0.48578400%
Class 2-M.....$ 5,102.74 $ 0.00 7.00000000%
Class 2-B1....$ 2,551.37 $ 0.00 7.00000000%
Class 2-B2....$ 2,551.37 $ 0.00 7.00000000%
Class 2-B3....$ 1,530.82 $ 0.00 7.00000000%
Class 2-B4....$ 1,020.54 $ 0.00 7.00000000%
Class 2-B5....$ 1,275.68 $ 0.00 7.00000000%
<PAGE>
15. Principal Distribution Amount:
Class 1-A1....$ 0.00 Class 2-A1.....$ 424,162.69
Class 1-A2....$ 0.00 Class 2-A2.....$ 0.00
Class 1-A3....$ 0.00 Class 2-A3.....$ 0.00
Class 1-A4....$ 1,190,661.66 Class 2-A4.....$ 0.00
Class 1-A5....$ 527,504.11 Class 2-A5.....$ 256,449.16
Class 1-A6....$ 407,586.50 Class 2-A6.....$ 892,764.04
Class 1-A7....$ 935,090.61 Class 2-A7.....$ 29,626.78
Class 1-A8....$ 801,837.66 Class 2-PO.....$ 452.70
Class 1-A9....$ 160,367.53 Class 2-M......$ 2,963.57
Class 1-A10...$ 1,971,716.71 Class 2-B1.....$ 1,481.79
Class 1-A11...$ 532,817.18 Class 2-B2.....$ 1,481.79
Class 1-A12...$ 0.00 Class 2-B3.....$ 889.07
Class 1-A13...$ 0.00 Class 2-B4.....$ 592.71
Class 1-A14...$ 0.00 Class 2-B5.....$ 740.90
Class 1-A15...$ 0.00
Class 1-A16...$ 30,936.21
Class 1-A17...$ 2,209.73
Class 1-PO....$ 926.40
Class 1-M.....$ 6,634.43
Class 1-B1....$ 3,316.84
Class 1-B2....$ 3,316.84
Class 1-B3....$ 1,658.79
Class 1-B4....$ 497.93
Class 1-B5....$ 1,161.36
Class 1-R.....$ 0.00
Class 1-RL....$ 0.00
16. Additional Distributions to the Class R Certificate pursuant to
Section 4.01 (c):........................ $ 0.00
17. Additional Distributions to the Class RL Certificate pursuant to
Section 2.05 (d):........................ $ 0.00
18. Certificate Interest Rate of:
Class 1-A8............................................ 7.00000000%
Class 1-A9............................................ 10.00000000%
Class 1-S............................................. 0.31470200%
Class 2-S............................................. 0.48578400%
B. Other Amounts for such Distribution Date:
Pool 1 Pool 2
------ ------
1. Senior Percentage: ....................... 94.55120000% 96.98530000%
2. Group I Senior Percentage: ............... 83.66228662% 86.02607100%
3. Group II Senior Percentage: .............. 10.88891338% 10.95922900%
<PAGE>
4. Senior Prepayment Percentage: ............100.00000000% 100.00000000%
5. Group I Senior Prepayment Percentage: .....100.00000000% 100.00000000%
6. Group II Senior Prepayment Percent: ....... 0.00000000% 0.00000000%
7. Group I Scheduled Distribution Percent: ... 0.00000000% N/A
8. Group II Scheduled Distribution Percentage: 0.00000000% N/A
9. Junior Percentage: ....................... 5.44880000% 3.01470000%
10. Junior Prepayment Percentage: ............ 0.00000000% 0.00000000%
11. Subordinate Certificate Writedown: .......$ 0.00 $ 0.00
12. Prepayment Triggers satisfied:
YES NO
--- --
Class 1-B1..................... X
Class 1-B2..................... X
Class 1-B3..................... X
Class 1-B4..................... X
Class 1-B5..................... X
Class 2-B1..................... X
Class 2-B2..................... X
Class 2-B3..................... X
Class 2-B4..................... X
Class 2-B5..................... X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
----------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.4
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
REMIC Multi-Class Pass-Through Certificates
December 1997
Series 1997-2
Pursuant to the Pooling and Servicing Agreement dated as of February 1,
1997 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company") and State Street Bank and Trust Company (the "Trustee"), governing
the Certificates referred to above, the Company hereby certifies to the Trustee:
(a) The amounts below are for a Single Certificate of $1,000.
i) The amount of such distribution allocable to principal:
Class 1-A1.....$ 0.00000000 Class 2-A1.....$ 27.82489438
Class 1-A2.....$ 0.00000000 Class 2-A2.....$ 0.00000000
Class 1-A3.....$ 0.00000000 Class 2-A3.....$ 0.00000000
Class 1-A4.....$ 20.08706599 Class 2-A4.....$ 0.00000000
Class 1-A5.....$ 20.94844889 Class 2-A5.....$ 10.34110892
Class 1-A6.....$ 21.73745646 Class 2-A6.....$ 71.34240114
Class 1-A7.....$ 9.73875382 Class 2-A7.....$ 3.29186444
Class 1-A8.....$ 106.91168800 Class 2-PO.....$ 3.54278023
Class 1-A9.....$ 106.91168667 Class 2-M......$ 3.29188628
Class 1-A10....$ 206.62587944 Class 2-B1.....$ 3.29190104
Class 1-A11....$ 21.31268720 Class 2-B2.....$ 3.29190104
Class 1-A12....$ 0.00000000 Class 2-B3.....$ 3.29188867
Class 1-A13....$ 0.00000000 Class 2-B4.....$ 3.29186406
Class 1-A14....$ 0.00000000 Class 2-B5.....$ 3.29188991
Class 1-A15....$ 0.00000000
Class 1-A16....$ 0.73657643
Class 1-A17....$ 0.73657667
Class 1-PO.....$ 0.41136767
Class 1-M......$ 0.73658599
Class 1-B1.....$ 0.73658450
Class 1-B2.....$ 0.73658450
Class 1-B3.....$ 0.73658526
Class 1-B4.....$ 0.73658284
Class 1-B5.....$ 0.73658797
Class 1-R......$ 0.00000000
Class 1-RL.....$ 0.00000000
<PAGE>
Principal Prepayments included in the above principal distribution
(including amounts deposited pursuant to Section 3.17, Scheduled Principal
Balances of Defaulted Mortgage Loans, Designated Loans and Defective
Mortgage Loans which are being distributed on this Distribution Date):
Class 1-A1....$ 0.00000000 Class 2-A1....$ 23.26762578
Class 1-A2....$ 0.00000000 Class 2-A2....$ 0.00000000
Class 1-A3....$ 0.00000000 Class 2-A3....$ 0.00000000
Class 1-A4....$ 19.15358267 Class 2-A4....$ 0.00000000
Class 1-A5....$ 19.97493551 Class 2-A5....$ 8.64740218
Class 1-A6....$ 20.72727643 Class 2-A6....$ 59.65766730
Class 1-A7....$ 9.28617582 Class 2-A7....$ 2.75271018
Class 1-A8....$ 101.94330302 Class 2-PO....$ 2.96253001
Class 1-A9....$ 101.94330175 Class 2-B1....$ 0.00000000
Class 1-A10...$ 197.02359053 Class 2-B2....$ 0.00000000
Class 1-A11...$ 20.32224699 Class 2-B3....$ 0.00000000
Class 1-A12...$ 0.00000000 Class 2-B4....$ 0.00000000
Class 1-A13...$ 0.00000000 Class 2-B5....$ 0.00000000
Class 1-A14...$ 0.00000000
Class 1-A15...$ 0.00000000
Class 1-A16...$ 0.70234635
Class 1-A17...$ 0.70234658
Class 1-PO....$ 0.39225065
Class 1-M.....$ 0.00000000
Class 1-B1....$ 0.00000000
Class 1-B2....$ 0.00000000
Class 1-B3....$ 0.00000000
Class 1-B4....$ 0.00000000
Class 1-B5....$ 0.00000000
Class 1-R.....$ 0.00000000
Class 1-RL....$ 0.00000000
ii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest; Pay-out Rate:
Class 1-A1........$ 5.41666665 6.50000000%
Class 1-A2........$ 5.62499995 6.75000000%
Class 1-A3........$ 6.24999976 7.50000000%
Class 1-A4........$ 5.15836421 7.00000000%
Class 1-A5........$ 5.77181904 7.50000000%
Class 1-A6........$ 5.75380886 7.50000000%
Class 1-A7........$ 3.67809930 7.50000000%
Class 1-A8........$ 0.62365200 7.00000000%
Class 1-A9........$ 0.89093333 10.00000000%
Class 1-A10.......$ 1.29141181 7.50000000%
Class 1-A11.......$ 5.42070360 7.50000000%
Class 1-A12.......$ 6.25000064 7.50000000%
Class 1-A13.......$ 6.45833333 7.75000000%
Class 1-A14.......$ 5.00000000 6.00000000%
<PAGE>
Class 1-A15.......$ 0.00000000 7.50000000%
Class 1-A16.......$ 6.20634738 7.50000000%
Class 1-A17.......$ 6.20634667 7.50000000%
Class 1-S.........$ 0.21109811 0.31470200%
Class 1-M.........$ 6.20634729 7.50000000%
Class 1-B1........$ 6.20634688 7.50000000%
Class 1-B2........$ 6.20634688 7.50000000%
Class 1-B3........$ 6.20634103 7.50000000%
Class 1-B4........$ 6.20634615 7.50000000%
Class 1-B5........$ 6.20634477 7.50000000%
Class 1-R.........$ 0.00000000 7.50000000%
Class 1-RL........$ 0.00000000 7.50000000%
Class 2-A1........$ 4.63767318 7.00000000%
Class 2-A2........$ 5.41666641 6.50000000%
Class 2-A3........$ 5.41666667 6.50000000%
Class 2-A4........$ 5.83333244 7.00000000%
Class 2-A5........$ 5.50765111 7.00000000%
Class 2-A6........$ 3.31761761 7.00000000%
Class 2-A7........$ 5.66804333 7.00000000%
Class 2-S.........$ 0.33321471 0.48578400%
Class 2-M.........$ 5.66804219 7.00000000%
Class 2-B1........$ 5.66804848 7.00000000%
Class 2-B2........$ 5.66804848 7.00000000%
Class 2-B3........$ 5.66804528 7.00000000%
Class 2-B4........$ 5.66799776 7.00000000%
Class 2-B5........$ 5.66796885 7.00000000%
iii) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:
Pool 1 Pool 2
------ ------
$ 82,672.37 $ 16,587.46
(b) The amounts below are for the aggregate of all certificates.
iv) The Pool Scheduled Principal Balances: $405,169,394.43 $78,307,610.45
Number of Mortgage Loans: 1,400 263
v) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to all distributions allocable to principal made
on such Distribution Date and the allocation of Realized Losses
(separately identified), if any, as of such Distribution Date:
Aggregate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 1-A1........ $ 51,348,218.00 $ 1,000.00
Class 1-A2........ $ 65,627,405.00 $ 1,000.00
Class 1-A3........ $ 5,215,005.00 $ 1,000.00
Class 1-A4........ $ 51,225,723.49 $ 864.20
Class 1-A5........ $ 22,726,977.97 $ 902.54
Class 1-A6........ $ 16,854,229.33 $ 898.87
Class 1-A7........ $ 95,074,441.20 $ 990.18
<PAGE>
Class 1-A8........ $ 0.00 $ 0.00
Class 1-A9........ $ 0.00 $ 0.00
Class 1-A10....... $ 0.00 $ 0.00
Class 1-A11....... $ 21,149,997.38 $ 846.00
Class 1-A12....... $ 5,886,977.00 $ 1,000.00
Class 1-A13....... $ 1,752,000.00 $ 1,000.00
Class 1-A14....... $ 292,000.00 $ 1,000.00
Class 1-A15....... $ 0.00 $ 0.00
Class 1-A16....... $ 41,675,718.39 $ 992.28
Class 1-A17....... $ 2,976,837.03 $ 992.28
Class 1-PO........ $ 1,020,047.64 $ 973.74
Class 1-S......... $ 356,326,437.98 $ 2,138.82
Class 1-M......... $ 8,937,456.96 $ 992.28
Class 1-B1........ $ 4,468,232.35 $ 992.28
Class 1-B2........ $ 4,468,232.35 $ 992.28
Class 1-B3........ $ 2,234,612.31 $ 992.28
Class 1-B4........ $ 670,780.59 $ 992.28
Class 1-B5........ $ 1,564,502.44 $ 992.28
Class 1-R......... $ 0.00 $ 0.00
Class 1-RL........ $ 0.00 $ 0.00
Class 2-A1........ $ 11,695,269.47 $ 767.20
Class 2-A2........ $ 13,163,000.00 $ 1,000.00
Class 2-A3........ $ 12,831,000.00 $ 1,000.00
Class 2-A4........ $ 1,856,714.00 $ 1,000.00
Class 2-A5........ $ 23,157,992.10 $ 933.83
Class 2-A6........ $ 6,224,260.93 $ 497.39
Class 2-A7........ $ 8,715,355.15 $ 968.37
Class 2-S......... $ 72,616,217.76 $ 861.76
Class 2-PO........ $ 123,303.65 $ 964.96
Class 2-M......... $ 871,792.22 $ 968.37
Class 2-B1........ $ 435,895.62 $ 968.37
Class 2-B2........ $ 435,895.62 $ 968.37
Class 2-B3........ $ 261,537.19 $ 968.37
Class 2-B4........ $ 174,358.44 $ 968.37
Class 2-B5........ $ 217,950.06 $ 968.37
vi) The following pertains to any real estate acquired on behalf of
Certificateholders:
Pool 1 Pool 2
------ ------
Book Value..........................$ 242,250.00 $ 0.00
Unpaid Principal Balance............$ 242,250.00 $ 0.00
The aggregate number of Mortgage Loans included in the Principal
Balance set forth above:............ 1 0
<PAGE>
vii) Aggregate number and aggregate Principal Balances of delinquent
Mortgage Loans, as of the opening of business on the related
Determination Date:
Loans Principal Balance
----- -----------------
Pool 1..............................
*(1) *30-59 days 10 $3,332,498.32
(2) 60-89 days 1 $ 265,947.13
(3) 90 days or more 3 $ 857,061.28
(4) in foreclosure 2 $ 809,177.68
Pool 2..............................
*(1) 30-59 days 3 $ 940,278.27
(2) 60-89 days 0 $ 0.00
(3) 90 days or more 0 $ 0.00
(4) in foreclosure 0 $ 0.00
viii)The aggregate number of replaced Mortgage loans and Scheduled
Principal Balance:
Pool 1.............................. 0 $ 0.00
Pool 2.............................. 0 $ 0.00
ix) The aggregate number of modified Mortgage loans and Principal Balance:
Pool 1.............................. 0 $ 0.00
Pool 2.............................. 0 $ 0.00
x) Certificate Interest Rate of:
Class 1-A8 Certificates: 7.000000%
Class 1-A9 Certificates: 10.000000%
Class 1-S Certificates: 0.314702%
Class 2-S Certificates: 0.485784%
Pool 1 Pool 2
------ ------
xi) Senior Percentage........................ 94.55120000% 96.98530000%
xii) Group I Senior Percentage ............... 83.66228662% 86.02607100%
xiii) Group II Senior Percentage ............. 10.88891338% 10.95922900%
xiv) Senior Prepayment Percentage ........... 100.00000000% 100.00000000%
xv) Group I Senior Prepayment Percentage ... 100.00000000% 100.00000000%
xvi) Group II Senior Prepayment Percentage .. 0.00000000% 0.00000000%
xvii) Group I Scheduled Distribution Percentage 0.00000000% N/A
xviii) Group II Scheduled Distribution Percentage 0.00000000% N/A
xviv) Junior Percentage ...................... 5.44880000% 3.01470000%
xvx) Junior Prepayment Percentage ........... 0.00000000% 0.00000000%
xvxi)Amount of distribution of Class 1-A7 Certificates allocable to
interest accrued on Components of Class 1-A7 Certificates:
Class 1-A7A Certificates: $ 247,514.36 7.50000000%
Class 1-A7B Certificates: $ 350,355.49 7.50000000%
Class 1-A7C Certificates: $ 83,807.31 7.50000000%
Class 1-A7D Certificates: $ 21,840.16 7.50000000%
<PAGE>
xvxii) Amount of distribution of Class 1-A5 Certificates allocable to
interest accrued on Components of Class 1-A5 Certificates:
Class 1-A5A Certificates: $ 5,712.50 7.50000000%
Class 1-A5B Certificates: $ 139,628.01 7.50000000%
* It has been the Company's experience that, with respect to the first
Distribution Date after the closing of a securitization containing a large
number of recently originated or acquired Mortgage Loans, the number of Mortgage
Loans 30-59 days delinquent may be inflated due to the borrowers sending monthly
payments to the wrong location or delays by the Company in inputting the
Mortgage Loans on its servicing system. It has also been the Company's
experience that for the majority of such Mortgage Loans the routing of
borrowers' monthly payments has corrected itself by the second Distribution
Date. However, the Company makes no assurances as to the level of delinquent
Mortgage Loans for future Distribution Dates.
Exhibit 99.5
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
December 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-3
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
(a) Principal .................................$ 309,654.47
(b) Interest ..................................$ 2,741,211.67
(c) Total .....................................$ 3,050,866.14
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal .................................$ 309,654.47
(b) Interest ..................................$ 2,663,084.25
(c) Total .....................................$ 2,972,738.72
3. Aggregate Principal Prepayments in part received and applied in prior
month: ..........................................$ 92,064.12
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal .................................$ 6,304,805.80
(b) Interest ..................................$ 36,667.56
(c) Total .....................................$ 6,341,473.36
5. Aggregate Insurance Proceeds for prior month:
(a) Principal .................................$ 0.00
(b) Interest ..................................$ 0.00
(c) Total .....................................$ 0.00
<PAGE>
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal .................................$ 0.00
(b) Interest ..................................$ 0.00
(c) Total .....................................$ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage Loans:
(a) Principal .................................$ 0.00
(b) Interest ..................................$ 0.00
(c) Total .....................................$ 0.00
8. Aggregate Purchase Prices ( and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal .................................$ 0.00
(b) Interest ..................................$ 0.00
(c) Total .....................................$ 0.00
9. Pool Scheduled Principal Balance: ..............$ 408,915,260.85
10. Available Funds: ...............................$ 9,406,276.20
11. Realized Losses for prior month: ................$ 0.00
12. Aggregate Realized Losses:
(a) Deficient Valuations: .......................$ 0.00
(b) Special Hazard Losses: ......................$ 0.00
(c) Fraud Losses: ...............................$ 0.00
(d) Excess Bankruptcy Losses: ...................$ 0.00
(e) Excess Special Hazard Losses: ...............$ 0.00
(f) Excess Fraud Losses: ........................$ 0.00
(g) Debt Service Reductions: ....................$ 0.00
13. Compensating Interest Payment: .................$ 6,258.35
14. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 3-A1....$ 93,042.92 $ 0.00 7.50000021%
Class 3-A2....$ 245,312.50 $ 0.00 7.50000000%
Class 3-A3....$ 34,009.95 $ 0.00 7.50000000%
Class 3-A4....$ 293,750.00 $ 0.00 7.50000000%
Class 3-A5....$ 264,607.20 $ 0.00 7.50000007%
Class 3-A6....$ 264,607.19 $ 0.00 7.49999996%
Class 3-A7 ...$ 333,590.05 $ 0.00 7.50000004%
Class 3-A8....$ 43,750.00 $ 0.00 7.50000000%
Class 3-A9....$ 213,750.00 $ 0.00 7.50000000%
<PAGE>
Class 3-A10...$ 269,375.00 $ 0.00 7.50000000%
Class 3-A11...$ 184,375.00 $ 0.00 7.50000000%
Class 3-A12...$ 135,625.00 $ 0.00 7.50000000%
Class 3-A13...$ 0.00 $ 0.00 0.00000000%
Class 3-A14...$ 27,789.59 $ 0.00 7.50000047%
Class 3-A15...$ 19,897.33 $ 0.00 7.49999953%
Class 3-M.....$ 34,604.60 $ 0.00 7.50000065%
Class 3-B1....$ 27,682.44 $ 0.00 7.50000110%
Class 3-B2....$ 27,682.44 $ 0.00 7.50000110%
Class 3-B3....$ 13,844.32 $ 0.00 7.49999888%
Class 3-B4....$ 4,153.30 $ 0.00 7.50000609%
Class 3-B5....$ 9,693.30 $ 0.00 7.49993322%
Class 3-S.....$ 106,839.89 $ 0.00 0.33741000%
Class 3-R.....$ 0.00 $ 0.00 0.00000000%
15. Accrual Amount:
Class 3-A13.......... $ 51,769.79
16. Principal distributable:
Class 3-A1.....$ 4,855,321.80
Class 3-A2.....$ 0.00
Class 3-A3.....$ 0.00
Class 3-A4.....$ 0.00
Class 3-A5.....$ 31,537.33
Class 3-A6.....$ 31,537.32
Class 3-A7.....$ 1,767,336.86
Class 3-A8.....$ 0.00
Class 3-A9.....$ 0.00
Class 3-A10....$ 0.00
Class 3-A11....$ 0.00
Class 3-A12....$ 0.00
Class 3-A13....$ 0.00
Class 3-A14....$ 51,769.79
Class 3-A15....$ 0.00
Class 3-PO.....$ 6,767.67
Class 3-M......$ 4,124.36
Class 3-B1.....$ 3,299.34
Class 3-B2.....$ 3,299.34
Class 3-B3.....$ 1,650.04
Class 3-B4.....$ 495.01
Class 3-B5.....$ 1,155.32
Class 3-R......$ 0.00
17. Additional distributions to the Class 3-R Certificate pursuant to
Section 4.01(b):.............................$ 0.00
<PAGE>
18. Certificate Interest Rates of:
Class 3-S Certificates:............... 0.308500%
19. Other Amounts:
A. Senior Percentage for such Distribution Date: ........ 95.462226%
B. Group I Senior Percentage for such Distribution Date: 75.052186%
C. Group II Senior Percentage for such Distribution Date: 20.410040%
D. Senior Prepayment Percentage for such Distribution
Date: ................................................ 100.000000%
E. Group I Senior Prepayment Percentage for such
Distribution Date: ................................... 100.000000%
F. Group II Senior Prepayment Percentage for such
Distribution Date: ................................... 0.000000%
G. Junior Percentage for such Distribution Date: ........ 4.537774%
H. Junior Prepayment Percentage for such Distribution
Date: ................................................ 0.000000%
I. Subordinate Certificate Writedown Amount for such
Distribution Date: ...................................$ 0.00
J. Prepayment Distribution Triggers satisfied:
YES NO
--- --
Class 3-B1....... X
Class 3-B2....... X
Class 3-B3....... X
Class 3-B4....... X
Class 3-B5....... X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
------------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.6
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
December 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-3
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
The amounts below (other than for Class R) are for a Single Certificate of
$1,000:
1. The amount of such distribution allocable to principal:
Class 3-A1......$ 132.67493944 Class 3-A13....$ 0.00000000
Class 3-A2......$ 0.00000000 Class 3-A14....$ 10.67622630
Class 3-A3......$ 0.00000000 Class 3-A15....$ 0.00000000
Class 3-A4......$ 0.00000000 Class 3-PO.....$ 8.84680520
Class 3-A5......$ 0.73992909 Class 3-M......$ 0.73992824
Class 3-A6......$ 0.73992887 Class 3-B1.....$ 0.73992824
Class 3-A7......$ 28.84205113 Class 3-B2.....$ 0.73992824
Class 3-A8......$ 0.00000000 Class 3-B3.....$ 0.73992825
Class 3-A9......$ 0.00000000 Class 3-B4.....$ 0.73992526
Class 3-A10.....$ 0.00000000 Class 3-B5.....$ 0.73993504
Class 3-A11.....$ 0.00000000 Class 3-R......$ 0.00000000
Class 3-A12.....$ 0.00000000
2. Principal Prepayments included in the above principal distribution
(including the Scheduled Principal Balances of all Defaulted Mortgage
Loans and Defective Mortgage Loans purchased pursuant to Section 2.02,
2.03 (b) or 3.16, respectively, and any amounts deposited pursuant to
Section 2.03(b) in connection with the substitution of any Mortgage
Loans pursuant to Section 2.02 or 2.03(a), the proceeds of which are
being distributed on such Distribution Date):
Class 3-A1......$ 126.81422562 Class 3-A13....$ 0.00000000
Class 3-A2......$ 0.00000000 Class 3-A14....$ 10.20462023
Class 3-A3......$ 0.00000000 Class 3-A15....$ 0.00000000
Class 3-A4......$ 0.00000000 Class 3-PO.....$ 8.45601103
Class 3-A5......$ 0.70724385 Class 3-M......$ 0.00000000
Class 3-A6......$ 0.70724364 Class 3-B1.....$ 0.00000000
Class 3-A7......$ 27.56799735 Class 3-B2.....$ 0.00000000
Class 3-A8......$ 0.00000000 Class 3-B3.....$ 0.00000000
<PAGE>
Class 3-A9......$ 0.00000000 Class 3-B4.....$ 0.00000000
Class 3-A10.....$ 0.00000000 Class 3-B5.....$ 0.00000000
Class 3-A11.....$ 0.00000000 Class 3-R......$ 0.00000000
Class 3-A12.....$ 0.00000000
3. The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 3-A1......$ 2.54246048 Class 3-A13....$ 0.00000000
Class 3-A2......$ 6.25000000 Class 3-A14....$ 5.73090892
Class 3-A3......$ 6.25000000 Class 3-A15....$ 6.24999961
Class 3-A4......$ 6.25000000 Class 3-M......$ 6.20821672
Class 3-A5......$ 6.20821622 Class 3-B1.....$ 6.20821709
Class 3-A6......$ 6.20821613 Class 3-B2.....$ 6.20821709
Class 3-A7......$ 5.44402230 Class 3-B3.....$ 6.20821525
Class 3-A8......$ 6.25000000 Class 3-B4.....$ 6.20822123
Class 3-A9......$ 6.25000000 Class 3-B5.....$ 6.20816078
Class 3-A10.....$ 6.25000000 Class 3-R......$ 0.00000000
Class 3-A11.....$ 6.25000000 Class 3-S......$ 0.23958445
Class 3-A12.....$ 6.25000000
4. Accrual Amount:
Class A13 $ 51,769.79
5. The amount of servicing compensation received by the Company during
the month preceding the month of distribution:... $ 84,727.05
The amounts below are for the aggregate of all Certificates.
6. The Pool Scheduled Principal Balances of each Mortgage Pool on the
preceding Due Date after giving effect to all distributions allocable
to principal made on such Distribution Date:.....$ 408,915,260.85
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:............... 1,453
<PAGE>
7. The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to (i) all distributions allocable to principal
made on such Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date:
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 3-A1....................$ 10,031,544.99 $ 274.12
Class 3-A2....................$ 39,250,000.00 $ 1,000.00
Class 3-A3....................$ 5,441,592.00 $ 1,000.00
Class 3-A4....................$ 47,000,000.00 $ 1,000.00
Class 3-A5....................$ 42,305,614.27 $ 992.57
Class 3-A6....................$ 42,305,613.33 $ 992.57
Class 3-A7....................$ 51,607,070.82 $ 842.20
Class 3-A8....................$ 7,000,000.00 $ 1,000.00
Class 3-A9....................$ 34,200,000.00 $ 1,000.00
Class 3-A10...................$ 43,100,000.00 $ 1,000.00
Class 3-A11...................$ 29,500,000.00 $ 1,000.00
Class 3-A12...................$ 21,700,000.00 $ 1,000.00
Class 3-A13...................$ 8,334,936.67 $ 1,057.68
Class 3-A14...................$ 4,394,564.33 $ 906.27
Class 3-A15...................$ 3,183,573.00 $ 1,000.00
Class 3-PO....................$ 749,099.03 $ 979.23
Class 3-M.....................$ 5,532,611.16 $ 992.57
Class 3-B1....................$ 4,425,890.41 $ 992.57
Class 3-B2....................$ 4,425,890.41 $ 992.57
Class 3-B3....................$ 2,213,441.49 $ 992.57
Class 3-B4....................$ 664,032.45 $ 992.57
Class 3-B5....................$ 1,549,786.49 $ 992.57
Class 3-R.....................$ 0.00 $ 0.00
Class 3-S.....................$ 373,580,790.52 $ 911.76
8. The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in lieu of
foreclosure or otherwise, of any REO Mortgage Loan:
book value........................................$ 0.00
unpaid principal balance..........................$ 0.00
number of related mortgage loans.................. 0
<PAGE>
9. The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the month
preceding the related Determination Date, were:
(a) delinquent
(1) 30-59 days
Number 8 Principal Balance $ 1,979,254.40
(2) 60-89 days
Number 2 Principal Balance $ 902,099.98
(3) 90 days or more
Number 2 Principal Balance $ 753,072.45
(b) in foreclosure
Number 2 Principal Balance $ 440,992.51
10. The Scheduled Principal Balance of any Mortgage Loan replaced pursuant
to Section 2.03(b), and of any Modified Mortgage Loan purchased
pursuant to Section 3.01(c):........ .............. $ 0.00
11. The Certificate Interest Rates, applicable to the Interest Accrual
Period relating to such Distribution Date:
Class 3-S: ........................ 0.308500%
12. Senior Percentage for such Distribution Date: .......... 95.46222600%
13. Group I Senior Percentage for such Distribution Date: .. 75.05218600%
14. Group II Senior Percentage for such Distribution Date: . 20.41004000%
15. Senior Prepayment Percentage for such Distribution Date: 100.00000000%
16. Group I Senior Prepayment Percentage for such
Distribution Date: ................................... 100.00000000%
17. Group II Senior Prepayment Percentage for such
Distribution Date: ................................... 0.00000000%
18. Junior Percentage for such Distribution Date: .......... 4.53777400%
19. Junior Prepayment Percentage for such Distribution Date: 0.00000000%
Exhibit 99.7
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
DECEMBER 1997
Home Equity Loan Pass-Through Certificates
Series 1997-HE1
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company"),
and The First National Bank of Chicago (the "Trustee"), governing the
Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
(1) Aggregate Monthly Payments Due: $ 1,730,146.45
(2) Aggregate Monthly Payments received and Monthly Advances made this
Month:
(a) Principal $ 247,749.30
(b) Interest $ 1,425,197.40
(c) Total $ 1,672,946.70
(3) Aggregate Principal Prepayments in part received on Self- Amortizing
Mortgage Loans and applied in the applicable Prepayment Period:
(a) Principal $ 37,093.40
(c) Total $ 37,093.40
(4) Aggregate Principal Prepayments in full received in the applicable
Prepayment period:
(a) Principal $ 2,938,384.96
(b) Interest $ 32,698.51
(c) Total $ 2,971,083.47
<PAGE>
(5) Aggregate Insurance Proceeds (inculding purchases of Mortgage Loans by
primary mortgage insurers) for prior month:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(6) Aggregate Liquidation Proceeds for prior month:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(7) Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(8) Aggregate Purchase Prices for (and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(9) Aggregate Purchase Prices for for Document Deficiencies per Sec. 2.02:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(10) Pool Principal Balance: $ 180,400,988.69
(11) Available Funds: $ 4,597,453.69
(12) Realized Losses for prior month: $ 0.00
<PAGE>
(13) Aggregate Realized Losses: $ 0.00
(a) Deficient Valuations $ 0.00
(b) Special Hazard Losses $ 0.00
(c) Fraud Losses $ 0.00
(d) Excess Bankruptcy Losses $ 0.00
(e) Excess Special Hazard Losses $ 0.00
(f) Excess Fraud Losses $ 0.00
(14) Compensating Interes Payment: $ 3,463.67
(15) Net Simple Interest Shortfall: $ 0.00
(16) Net Simple Interest Excess: $ 0.00
(17) Simple Interest Shortfall Payment: $ 0.00
(18) Unpaid Net Simple Interest Shortfall:
Class A1 36157T4B4 $ 0.00
Class A2 36157T4C2 $ 0.00
Class A3 36157T4D0 $ 0.00
Class A4 36157T4E8 $ 0.00
Class A5 36157T4F5 $ 0.00
Class S 36197HE1S $ 0.00
Class M 36157T4J7 $ 0.00
Class B1 36157T4K4 $ 0.00
Class B2 36157T4L2 $ 0.00
Class B3 36157T5M9 $ 0.00
Class B4 36157T5N7 $ 0.00
Class B5 36157T5P2 $ 0.00
(19) Class Certificate Interest Rate:
Class A4 36157T4E8 7.780%
Class M 36157T4J7 7.500%
Class B1 36157T4K4 7.500%
Class B2 36157T4L2 7.500%
Class B3 36157T5M9 9.141%
Class B4 36157T5N7 9.141%
Class B5 36157T5P2 9.141%
Class S 36196HE4S 2.04%
<PAGE>
(20) Accrued Certificate Interest and Pay-out Rate:
Class A1 36157T4B4 $ 319,198.31 6.670%
Class A2 36157T4C2 $ 276,489.60 6.940%
Class A3 36157T4D0 $ 86,895.38 7.350%
Class A4 36157T4E8 $ 102,864.57 7.780%
Class A5 36157T4F5 $ 182,250.00 7.290%
Class S 36197HE1S $ 307,404.15 2.04%
Class M 36157T4J7 $ 33,512.45 7.500%
Class B1 36157T4K4 $ 24,374.93 7.500%
Class B2 36157T4L2 $ 15,237.41 7.500%
Class B3 36157T5M9 $ 9,657.56 9.141%
Class B4 36157T5N7 $ 2,966.36 9.141%
Class B5 36157T5P2 $ 13,375.34 9.141%
Total $ 1,374,226.03
(21) Principal distributable:
Class A1 36157T4B4 $ 3,202,472.58
Class A2 36157T4C2 $ 0.00
Class A3 36157T4D0 $ 0.00
Class A4 36157T4E8 $ 0.00
Class A5 36157T4F5 $ 0.00
Class M 36157T4J7 $ 7,363.76
Class B1 36157T4K4 $ 5,355.95
Class B2 36157T4L2 $ 3,348.15
Class B3 36157T5M9 $ 1,741.09
Class B4 36157T5N7 $ 534.78
Class B5 36157T5P2 $ 2,411.34
Class R1 36157T4G3 $ 0.00
Class R2 36157T4H1 $ 0.00
Total $ 3,223,227.66
(22) Additional distributions to the Class R1 Certificate pursuant to
Section 2.05 (d) : $ 0.00
(23) Additional distributions to the Class R2 Certificate pursuant to
Section 4.01 (b) : $ 0.00
<PAGE>
B. Other Amounts:
(1) Senior Percentage for such Distribution Date: 91.622547%
(2) Senior Prepayment Percentage for such Distribution Date: 100.000000%
(3) Junior Percentage for such Distribution Date: 8.377453%
(4) Junior Prepayment Percentage for such Distribution Date: 0.000000%
(5) Subordinate Certfificate Writedown Amount for such
Distribution Date: $ 0.00
(6) Prepayment Distribution Triggers satisfied:
Yes: No
---- --
Class B1 X
Class B2 X
Class B3 X
Class B4 X
Class B5 X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
-----------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.8
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
DECEMBER 1997
Home Equity Loan Pass-Through Certificates
Series 1997-HE1
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company"),
and The First National Bank of Chicago (the "Trustee"), governing the
Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
The amounts below are for a Single Certificate of $1,000:
(1) Amount of distribution allocable to principal:
Class A1 36157T4B4 $ 42.91995684
Class A2 36157T4C2 $ 0.00000000
Class A3 36157T4D0 $ 0.00000000
Class A4 36157T4E8 $ 0.00000000
Class A5 36157T4F5 $ 0.00000000
Class M 36157T4J7 $ 1.35388123
Class B1 36157T4K4 $ 1.35388123
Class B2 36157T4L2 $ 1.35388123
Class B3 36157T5M9 $ 1.35388123
Class B4 36157T5N7 $ 1.35388123
Class B5 36157T5P2 $ 1.35388123
Class R1 36157T4G3 $ 0.00000000
Class R2 36157T4H1 $ 0.00000000
(2) Aggregate Principal prepayments included in distribution:
Class A1 36157T4B4 $ 2,975,478.36
Class A2 36157T4C2 $ 0.00
Class A3 36157T4D0 $ 0.00
Class A4 36157T4E8 $ 0.00
Class A5 36157T4F5 $ 0.00
Class M 36157T4J7 $ 0.00
Class B1 36157T4K4 $ 0.00
Class B2 36157T4L2 $ 0.00
Class B3 36157T5M9 $ 0.00
Class B4 36157T5N7 $ 0.00
Class B5 36157T5P2 $ 0.00
Class R1 36157T4G3 $ 0.00
Class R2 36157T4H1 $ 0.00
<PAGE>
(3) Amount of distribution allocable to interest Pay-out Rate:
Class A1 36157T4B4 $ 4.27793749 6.670%
Class A2 36157T4C2 $ 5.78333333 6.940%
Class A3 36157T4D0 $ 6.12500000 7.350%
Class A4 36157T4E8 $ 6.48333333 7.780%
Class A5 36157T4F5 $ 6.07500000 7.290%
Class S 36197HE1S $ 1.70400477 2.04%
Class M 36157T4J7 $ 6.16150866 7.500%
Class B1 36157T4K4 $ 6.16150866 7.500%
Class B2 36157T4L2 $ 6.16150866 7.500%
Class B3 36157T5M9 $ 7.50976424 9.141%
Class B4 36157T5N7 $ 7.50976424 9.141%
Class B5 36157T5P2 $ 7.50976424 9.141%
(4) Servicing Compensation: $ 86,397.22
The amounts below are for the aggregate of all Certificates:
(5) Pool Principal Balance: $ 180,400,988.69
number of Mortgage Loans: 2,905
(6) Class Certificate Principal Balance of each Class; Certificate Principal
Balance of Single Certificate of each class:
Single
Certificate
Class Cusip# Class Balance Balance
----- ------ ------------- -------
Class A1 36157T4B4 $ 54,224,508.95 $ 726.72396907
Class A2 36157T4C2 $ 47,808,000.00 $ 1,000.00000000
Class A3 36157T4D0 $ 14,187,000.00 $ 1,000.00000000
Class A4 36157T4E8 $ 15.866.000.00 $ 1,000.00000000
Class A5 36157T4F5 $ 30,000,000.00 $ 1,000.00000000
Class M 36157T4J7 $ 5,354,627.54 $ 984.48750479
Class B1 36157T4K4 $ 3,894,632.57 $ 984.48750479
Class B2 36157T4L2 $ 2,434,637.60 $ 984.48750479
Class B3 36157T5M9 $ 1,266,050.93 $ 984.48750479
Class B4 36157T5N7 $ 388,872.56 $ 984.48750479
Class B5 36157T5P2 $ 1,753,431.32 $ 984.48750479
Class R1 36157T4G3 $ 0.00 $ 0.00000000
Class R2 36157T4H1 $ 0.00 $ 0.00000000
<PAGE>
(7) Book value of real estate acquired on behalf of Certificate-
holders; $ 0.00
number of related Mortgage Loans: 0
(8) Aggregate Scheduled Principal Balance and number of delinquent Mortgage
Loans:
One Payment Delinquent $ 2,831,018.49
58
Two Payments Delinquent $ 448,102.72
11
Three or more Payments Delinquent $ 1,145,152.06
25
TOTAL $ 4,424,273.27
94
In foreclosure $ 861,350.57
13
(9) Aggregate Scheduled Principal Balance and number of replaced Mortgage
Loans: $ 0.00
0
(10) Unpaid Net Simple Interest Shortfall:
Class A1 36157T4B4 $ 0.00
Class A2 36157T4C2 $ 0.00
Class A3 36157T4D0 $ 0.00
Class A4 36157T4E8 $ 0.00
Class A5 36157T4F5 $ 0.00
Class S 36197HE1S $ 0.00
Class M 36157T4J7 $ 0.00
Class B1 36157T4K4 $ 0.00
Class B2 36157T4L2 $ 0.00
Class B3 36157T5M9 $ 0.00
Class B4 36157T5N7 $ 0.00
Class B5 36157T5P2 $ 0.00
(11) Class Certificate Interest Rate of:
Class A4 36157T4E8 7.290%
Class M 36157T4J7 7.500%
Class B1 36157T4K4 7.500%
Class B2 36157T4L2 7.500%
Class B3 36157T5M9 9.141%
Class B4 36157T5N7 9.141%
Class B5 36157T5P2 9.141%
Class S 36197HE1S 2.04%
<PAGE>
(12) Senior Percentage for such Distribution Date: 91.622547%
(13) Senior Prepayment Percentage for such Distribution Date: 100.000000%
(14) Junior Percentage for such Distribution Date: 8.377453%
(15) Junior Prepayment Percentage for such Distribution Date: 0.000000%
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
---------------------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.9
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
December 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-4
Pursuant to the Pooling and Servicing Agreement dated as of April 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
(a) Principal ................................$ 240,971.35
(b) Interest .................................$ 2,192,306.44
(c) Total ....................................$ 2,433,277.79
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ................................$ 240,971.35
(b) Interest .................................$ 2,127,294.66
(c) Total ....................................$ 2,368,266.01
3. Aggregate Principal Prepayments in part received and applied in prior
month: ........................................$ 43,709.95
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ................................$ 4,760,375.91
(b) Interest .................................$ 28,770.08
(c) Total ....................................$ 4,789,145.99
5. Aggregate Insurance Proceeds for prior month:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
<PAGE>
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage Loans:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
8. Aggregate Purchase Prices ( and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
9. Pool Scheduled Principal Balance: .............$ 328,000,761.66
10. Available Funds: ..............................$ 7,201,121.95
11. Realized Losses for prior month: ...............$ 0.00
12. Aggregate Realized Losses:
(a) Deficient Valuations: ......................$ 0.00
(b) Special Hazard Losses: .....................$ 0.00
(c) Fraud Losses: ..............................$ 0.00
(d) Excess Bankruptcy Losses: ..................$ 0.00
(e) Excess Special Hazard Losses: ..............$ 0.00
(f) Excess Fraud Losses: .......................$ 0.00
(g) Debt Service Reductions: ...................$ 0.00
13. Non-Credit Losses: .............................$ 0.00
14. Compensating Interest Payment: .................$ 2,807.72
15. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 4-A1....$ 134,625.00 $ 0.00 7.50000000%
Class 4-A2....$ 157,571.78 $ 0.00 7.49999979%
Class 4-A3....$ 140,912.50 $ 0.00 7.50000000%
Class 4-A4....$ 163,196.31 $ 0.00 7.49999998%
Class 4-A5....$ 284,725.00 $ 0.00 7.50000000%
Class 4-A6....$ 41,301.32 $ 0.00 7.50000035%
<PAGE>
Class 4-A7 ...$ 0.00 $ 0.00 0.00000000%
Class 4-A8 ...$ 326,972.93 $ 0.00 7.50000000%
Class 4-A9 ...$ 122,587.50 $ 0.00 7.50000000%
Class 4-A10 ..$ 215,693.75 $ 0.00 7.50000000%
Class 4-A11 ..$ 128,825.00 $ 0.00 7.50000000%
Class 4-A12 ..$ 203,450.00 $ 0.00 7.50000000%
Class 4-M.....$ 27,265.96 $ 0.00 7.49999930%
Class 4-B1....$ 21,811.53 $ 0.00 7.50000131%
Class 4-B2....$ 21,811.53 $ 0.00 7.50000131%
Class 4-B3....$ 10,908.87 $ 0.00 7.49999811%
Class 4-B4....$ 3,271.46 $ 0.00 7.50009658%
Class 4-B5....$ 7,632.09 $ 0.00 7.50006031%
Class 4-S.....$ 78,216.03 $ 0.00 0.30906200%
Class 4-R.....$ 0.00 $ 0.00 0.00000000%
16. Principal distributable:
Class 4-A1.....$ 0.00
Class 4-A2.....$ 2,383,522.32
Class 4-A3.....$ 0.00
Class 4-A4.....$ 782,114.33
Class 4-A5.....$ 0.00
Class 4-A6.....$ 65,286.18
Class 4-A7.....$ 0.00
Class 4-A8.....$ 1,868,140.47
Class 4-A9.....$ 0.00
Class 4-A10....$ 0.00
Class 4-A11....$ 0.00
Class 4-A12....$ 0.00
Class 4-PO.....$ 550.40
Class 4-M......$ 3,155.89
Class 4-B1.....$ 2,524.57
Class 4-B2.....$ 2,524.57
Class 4-B3.....$ 1,262.64
Class 4-B4.....$ 378.65
Class 4-B5.....$ 883.37
Class 4-R......$ 0.00
17. Additional distributions to the Class 4-R Certificate pursuant to
Section 4.01(b): ......................................$ 0.00
18. Certificate Interest Rates of:
Class 4-S Certificates:..... 0.281800%
19. Accrual Amount A7 Certificates:........................$ 65,286.18
<PAGE>
B. Other Amounts:
1. Senior Percentage for such Distribution Date: .......... 95.538591%
2. Group I Senior Percentage for such Distribution Date: .. 79.120868%
3. Group II Senior Percentage for such Distribution Date: . 16.417723%
4. Senior Prepayment Percentage for such Distribution Date: 100.000000%
5. Group I Senior Prepayment Percentage for such
Distribution Date: ..................................... 100.000000%
6. Group II Senior Prepayment Percentage for such
Distribution Date: ..................................... 0.000000%
7. Junior Percentage for such Distribution Date: .......... 4.461409%
8. Junior Prepayment Percentage for such Distribution Date: 0.000000%
9. Subordinate Certificate Writedown Amount for such
Distribution Date: .....................................$ 0.00
10. Prepayment Distribution Triggers satisfied:
Yes No
--- --
Class 4-B1....... X
Class 4-B2....... X
Class 4-B3....... X
Class 4-B4....... X
Class 4-B5....... X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
-----------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.10
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
December 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-4
Pursuant to the Pooling and Servicing Agreement dated as of April 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
(a) The amounts below (other than for Class R) are for a Single Certificate of
$1,000:
i) The amount of such distribution allocable to principal:
Class 4-A1....$ 0.00000000 Class 4-A12....$ 0.00000000
Class 4-A2....$ 66.62908674 Class 4-PO.....$ 0.92698791
Class 4-A3....$ 0.00000000 Class 4-M......$ 0.71986542
Class 4-A4....$ 26.44332860 Class 4-B1.....$ 0.71986598
Class 4-A5....$ 0.00000000 Class 4-B2.....$ 0.71986598
Class 4-A6....$ 9.25519989 Class 4-B3.....$ 0.71986317
Class 4-A7....$ 0.00000000 Class 4-B4.....$ 0.71986692
Class 4-A8....$ 33.43906904 Class 4-B5.....$ 0.71986853
Class 4-A9....$ 0.00000000 Class 4-R......$ 0.00000000
Class 4-A10...$ 0.00000000
Class 4-A11...$ 0.00000000
ii) Principal Prepayments included in the above principal distribution
(including the Scheduled Principal Balances of all Defaulted Mortgage
Loans and Defective Mortgage Loans purchased pursuant to Section 2.02,
2.03 (b) or 3.16, respectively, and any amounts deposited pursuant to
Section 2.03(b) in connection with the substitution of any Mortgage
Loans pursuant to Section 2.02 or 2.03(a), the proceeds of which are
being distributed on such Distribution Date):
<PAGE>
Class 4-A1....$ 0.00000000 Class 4-A12....$ 0.00000000
Class 4-A2....$ 63.58184930 Class 4-M......$ 0.00000000
Class 4-A3....$ 0.00000000 Class 4-PO.....$ 0.88459273
Class 4-A4....$ 25.23396037 Class 4-B1.....$ 0.00000000
Class 4-A5....$ 0.00000000 Class 4-B2.....$ 0.00000000
Class 4-A6....$ 8.83191941 Class 4-B3.....$ 0.00000000
Class 4-A7....$ 0.00000000 Class 4-B4.....$ 0.00000000
Class 4-A8....$ 31.90975522 Class 4-B5.....$ 0.00000000
Class 4-A9....$ 0.00000000 Class 4-R......$ 0.00000000
Class 4-A10...$ 0.00000000
Class 4-A11...$ 0.00000000
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 4-A1....$ 6.25000000 Class 4-A12....$ 6.25000000
Class 4-A2....$ 4.40476840 Class 4-M......$ 6.21942518
Class 4-A3....$ 6.25000000 Class 4-PO.....$ 0.00000000
Class 4-A4....$ 5.51767623 Class 4-B1.....$ 6.21942686
Class 4-A5....$ 6.25000000 Class 4-B2.....$ 6.21942686
Class 4-A6....$ 5.85502126 Class 4-B3.....$ 6.21942417
Class 4-A7....$ 0.00000000 Class 4-B4.....$ 6.21950570
Class 4-A8....$ 5.85270249 Class 4-B5.....$ 6.21947927
Class 4-A9....$ 6.25000000 Class 4-R......$ 0.00000000
Class 4-A10...$ 6.25000000 Class 4-S......$ 0.22302769
Class 4-A11...$ 6.25000000
iv) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:...$ 66,731.27
(b) The amounts below are for the aggregate of all Certificates.
v) The Pool Scheduled Principal Balances of each Mortgage Pool on the
preceding Due Date after giving effect to all distributions allocable
to principal made on such Distribution Date:.....$ 328,000,761.66
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:............... 1,181
vi) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to (i) all distributions allocable to principal
made on such Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date:
<PAGE>
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 4-A1...................$ 21,540,000.00 $ 1,000.00
Class 4-A2...................$ 22,827,963.18 $ 638.13
Class 4-A3...................$ 22,546,000.00 $ 1,000.00
Class 4-A4...................$ 25,329,295.35 $ 856.38
Class 4-A5...................$ 45,556,000.00 $ 1,000.00
Class 4-A6...................$ 6,542,924.71 $ 927.55
Class 4-A7...................$ 10,511,075.29 $ 1,051.11
Class 4-A8...................$ 50,447,528.30 $ 902.99
Class 4-A9...................$ 19,614,000.00 $ 1,000.00
Class 4-A10..................$ 34,511,000.00 $ 1,000.00
Class 4-A11..................$ 20,612,000.00 $ 1,000.00
Class 4-A12..................$ 32,552,000.00 $ 1,000.00
Class 4-PO...................$ 589,491.05 $ 992.83
Class 4-M....................$ 4,359,398.12 $ 994.39
Class 4-B1...................$ 3,487,319.62 $ 994.39
Class 4-B2...................$ 3,487,319.62 $ 994.39
Class 4-B3...................$ 1,744,157.00 $ 994.39
Class 4-B4...................$ 523,048.21 $ 994.39
Class 4-B5...................$ 1,220,241.21 $ 994.39
Class 4-R....................$ 0.00 $ 0.00
Class 4-S....................$ 298,672,658.17 $ 929.98
vii) The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in lieu of
foreclosure or otherwise, of any REO Mortgage Loan:
book value.........................................$ 0.00
unpaid principal balance...........................$ 0.00
number of related mortgage loans................... 0
viii)The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the month
preceding the related Determination Date, were:
(a) delinquent
(1) 30-59 days
*Number 15 *Principal Balance $ 3,243,867.42
(2) 60-89 days
Number 1 Principal Balance $ 233,887.29
(3) 90 days or more
Number 0 Principal Balance $ 0.00
(b) in foreclosure
Number 2 Principal Balance $ 341,622.02
<PAGE>
ix) The Scheduled Principal Balance of any Mortgage Loan replaced pursuant
to Section 2.03(b), and of any Modified Mortgage Loan purchased
pursuant to Section 3.01(c): .........................$ 0.00
x) The Certificate Interest Rates, applicable to the Interest Accrual
Period relating to such Distribution Date:
Class 4-S: ........................ 0.281800%
1. Senior Percentage for such Distribution Date: ....... 95.53859100%
2. Group I Senior Percentage for such Distribution Date: 79.12086800%
3. Group II Senior Percentage for such Distribution
Date: ............................................... 16.41772300%
4. Senior Prepayment Percentage for such Distribution
Date:................................................100.00000000%
5. Group I Senior Prepayment Percentage for such
Distribution Date: ..................................100.00000000%
6. Group II Senior Prepayment Percentage for such
Distribution Date: .................................. 0.00000000%
7. Junior Percentage for such Distribution Date: ....... 4.46140900%
8. Junior Prepayment Percentage for such Distribution
Date: ............................................... 0.00000000%
Exhibit 99.11
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
December 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-5
Pursuant to the Pooling and Servicing Agreement dated as of May 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
(a) Principal ................................$ 321,053.60
(b) Interest .................................$ 3,028,472.38
(c) Total ....................................$ 3,349,525.98
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ................................$ 321,053.60
(b) Interest .................................$ 2,940,491.63
(c) Total ....................................$ 3,261,545.23
3. Aggregate Principal Prepayments in part received and applied in prior
month: ........................................$ 244,080.37
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ................................$ 5,651,588.21
(b) Interest .................................$ 33,257.62
(c) Total ....................................$ 5,684,845.83
<PAGE>
5. Aggregate Insurance Proceeds for prior month:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage Loans:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
8. Aggregate Purchase Prices ( and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
9. Pool Scheduled Principal Balance: .............$ 449,695,631.53
10. Available Funds: ..............................$ 9,190,471.43
11. Realized Losses for prior month: ...............$ 0.00
12. Aggregate Realized Losses:
(a) Deficient Valuations: ......................$ 0.00
(b) Special Hazard Losses: .....................$ 0.00
(c) Fraud Losses: ..............................$ 0.00
(d) Excess Bankruptcy Losses: ..................$ 0.00
(e) Excess Special Hazard Losses: ..............$ 0.00
(f) Excess Fraud Losses: .......................$ 0.00
(g) Debt Service Reductions: ...................$ 0.00
13. Non-Credit Losses: .............................$ 0.00
14. Compensating Interest Payment: .................$ 5,440.92
<PAGE>
15. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 5-A1.....$ 173,041.72 $ 0.00 7.50000000%
Class 5-A2.....$ 1,257,410.70 $ 0.00 7.50000000%
Class 5-A3.....$ 38,125.00 $ 0.00 7.50000000%
Class 5-A4.....$ 12,187.50 $ 0.00 7.50000000%
Class 5-A5.....$ 61,827.88 $ 0.00 7.50000055%
Class 5-A6.....$ 1,173,427.19 $ 0.00 7.49999998%
Class 5-A7 ....$ 0.00 $ 0.00 0.00000000%
Class 5-PO1 ...$ 0.00 $ 0.00 0.00000000%
Class 5-PO2 ...$ 0.00 $ 0.00 0.00000000%
Class 5-M......$ 45,728.28 $ 0.00 7.49999978%
Class 5-B1.....$ 30,485.52 $ 0.00 7.49999977%
Class 5-B2.....$ 22,864.14 $ 0.00 7.49999877%
Class 5-B3.....$ 15,242.76 $ 0.00 7.49999982%
Class 5-B4.....$ 4,572.83 $ 0.00 7.50000410%
Class 5-B5.....$ 10,670.01 $ 0.00 7.50004758%
Class 5-S1.....$ 46,244.34 $ 0.00 0.44981400%
Class 5-S2.....$ 81,921.38 $ 0.00 0.32449700%
Class 5-R......$ 0.00 $ 0.00 0.00000000%
16. Principal distributable:
Class 5-A1.....$ 644,206.95
Class 5-A2.....$ 0.00
Class 5-A3.....$ 0.00
Class 5-A4.....$ 0.00
Class 5-A5.....$ 6,964.54
Class 5-A6.....$ 5,550,461.74
Class 5-A7.....$ 0.00
Class 5-PO1....$ 98.86
Class 5-PO2....$ 395.53
Class 5-M......$ 5,151.02
Class 5-B1.....$ 3,434.01
Class 5-B2.....$ 2,575.51
Class 5-B3.....$ 1,717.01
Class 5-B4.....$ 515.10
Class 5-B5.....$ 1,201.91
Class 5-R......$ 0.00
17. Additional distributions to the Class 5-R Certificate pursuant to
Section 4.01(b): ..................................$ 0.00
18. Certificate Interest Rates of:
Class 5-S1 Certificates:..... 0.449814%
Class 5-S2 Certificates:..... 0.324497%
<PAGE>
19. Accrual Amount A7 Certificates:....................$ 0.00
B. Other Amounts:
1. Senior Percentage for such Distribution Date: ........... 95.446857%
2. Category A-Senior Percentage for such Distribution Date: 10.021920%
3. Category B-Senior Percentage for such Distribution Date: 85.424937%
4. Category A-Percentage for such Distribution Date: ....... 10.500000%
5. Category B-Percentage for such Distribution Date: ....... 89.500000%
6. Group I Senior Percentage for such Distribution Date: ... 49.085941%
7. Category A-Group I Senior Percentage for such
Distribution Date: ...................................... 7.849154%
8. Category B-Group I Senior Percentage for such
Distribution Date: ...................................... 41.236787%
9. Group II Senior Percentage for such Distribution Date: .. 46.360916%
10. Category A-Group II Senior Percentage for such
Distribution Date: ...................................... 2.172766%
11. Category B-Group II Senior Percentage for such
Distribution Date: ...................................... 44.188150%
12. Category B-Group I Scheduled Distribution Percentage:.... 85.424937%
13. Category B-Group II Scheduled Distribution Percentage:... 0.000000%
14. Senior Prepayment Percentage for such Distribution Date: 100.000000%
15. Category A-Senior Prepayment Percentage
for such Distribution Date: ............................. 10.500000%
16. Category B-Senior Prepayment Percentage
for such Distribution Date: ............................. 89.500000%
17. Group I Senior Prepayment Percentage for such
Distribution Date: ...................................... 100.000000%
<PAGE>
18. Category A-Group I Senior Prepayment Percentage for such
Distribution Date: ...................................... 10.500000%
19. Category B-Group I Senior Prepayment Percentage for such
Distribution Date: ...................................... 89.500000%
20. Group II Senior Prepayment Percentage for such
Distribution Date: ...................................... 0.000000%
21. Category A-Group II Senior Prepayment Percentage for such
Distribution Date: ...................................... 0.000000%
22. Category B-Group II Senior Prepayment Percentage for such
Distribution Date: ...................................... 0.000000%
23. Junior Percentage for such Distribution Date: ........... 4.553143%
24. Junior Prepayment Percentage for such Distribution Date:. 0.000000%
25. Subordinate Certificate Writedown Amount for such
Distribution Date: ......................................$ 0.00
26. Prepayment Distribution Triggers satisfied:
YES NO
--- --
Class 5-B1....... X
Class 5-B2....... X
Class 5-B3....... X
Class 5-B4....... X
Class 5-B5....... X
27. Category B Trigger satisfied:
YES NO
--- --
X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
------------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.12
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
December 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-5
Pursuant to the Pooling and Servicing Agreement dated as of May 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
(a) The amounts below (other than for Class R) are for a Single Certificate of
$1,000:
i) The amount of such distribution allocable to principal:
Class 5-A1....$ 20.65458059 Class 5-M.....$ 0.70116333
Class 5-A2....$ 0.00000000 Class 5-B1....$ 0.70116265
Class 5-A3....$ 0.00000000 Class 5-B2....$ 0.70116324
Class 5-A4....$ 0.00000000 Class 5-B3....$ 0.70116469
Class 5-A5....$ 0.70116294 Class 5-B4....$ 0.70116071
Class 5-A6....$ 26.75550700 Class 5-B5....$ 0.70116578
Class 5-A7....$ 0.00000000 Class 5-R.....$ 0.00000000
Class 5-PO1...$ 0.72894945
Class 5-PO2...$ 0.79163317
ii) Principal Prepayments included in the above principal distribution
(including the Scheduled Principal Balances of all Defaulted Mortgage
Loans and Defective Mortgage Loans purchased pursuant to Section 2.02,
2.03 (b) or 3.16, respectively, and any amounts deposited pursuant to
Section 2.03(b) in connection with the substitution of any Mortgage
Loans pursuant to Section 2.02 or 2.03(a), the proceeds of which are
being distributed on such Distribution Date):
Class 5-A1....$ 19.63399807 Class 5-M.....$ 0.00000000
Class 5-A2....$ 0.00000000 Class 5-B1....$ 0.00000000
Class 5-A3....$ 0.00000000 Class 5-B2....$ 0.00000000
Class 5-A4....$ 0.00000000 Class 5-B3....$ 0.00000000
Class 5-A5....$ 0.66651713 Class 5-B4....$ 0.00000000
Class 5-A6....$ 25.43346598 Class 5-B5....$ 0.00000000
Class 5-A7....$ 0.00000000 Class 5-R.....$ 0.00000000
Class 5-PO1...$ 0.69293066
Class 5-PO2...$ 0.75251705
<PAGE>
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 5-A1....$ 5.54806829 Class 5-B1....$ 6.22459110
Class 5-A2....$ 6.25000000 Class 5-B2....$ 6.22459025
Class 5-A3....$ 6.25000000 Class 5-B3....$ 6.22459110
Class 5-A4....$ 6.25000000 Class 5-B4....$ 6.22459466
Class 5-A5....$ 6.22459174 Class 5-B5....$ 6.22463068
Class 5-A6....$ 5.65640137 Class 5-R.....$ 0.00000000
Class 5-A7....$ 0.00000000 Class 5-S1....$ 0.46435068
Class 5-M.....$ 6.22459110 Class 5-S2....$ 0.82259252
iv) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:.....$ 95,459.34
(b) The amounts below are for the aggregate of all Certificates.
v) The Pool Scheduled Principal Balances of each Mortgage Pool on the
preceding Due Date after giving effect to all distributions allocable
to principal made on such Distribution Date:.......$ 449,695,631.53
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:................. 1,687
vi) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to (i) all distributions allocable to principal
made on such Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date:
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 5-A1...................$ 27,042,468.25 $ 867.04
Class 5-A2...................$ 201,185,712.00 $ 1,000.00
Class 5-A3...................$ 6,100,000.00 $ 1,000.00
Class 5-A4...................$ 1,950,000.00 $ 1,000.00
Class 5-A5...................$ 9,885,495.53 $ 995.23
Class 5-A6...................$ 182,197,889.14 $ 878.27
Class 5-A7...................$ 0.00 $ 0.00
Class 5-PO1..................$ 122,398.38 $ 902.51
Class 5-PO2..................$ 496,106.60 $ 992.93
Class 5-M....................$ 7,311,373.99 $ 995.23
Class 5-B1...................$ 4,874,249.34 $ 995.23
Class 5-B2...................$ 3,655,687.49 $ 995.23
Class 5-B3...................$ 2,437,124.65 $ 995.23
Class 5-B4...................$ 731,137.30 $ 995.23
<PAGE>
Class 5-B5...................$ 1,705,988.86 $ 995.23
Class 5-R....................$ 0.00 $ 0.00
Class 5-S1...................$ 121,981,187.97 $ 914.72
Class 5-S2...................$ 298,142,810.19 $ 914.11
vii) The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in lieu of
foreclosure or otherwise, of any REO Mortgage Loan:
book value.........................................$ 0.00
unpaid principal balance...........................$ 0.00
number of related mortgage loans................... 0
viii)The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the month
preceding the related Determination Date, were:
(a) delinquent
(1) 30-59 days
*Number 34 Principal Balance *$ 8,068,251.40
(2) 60-89 days
Number 4 Principal Balance $ 667,077.68
(3) 90 days or more
Number 1 Principal Balance $ 183,537.74
(b) in foreclosure
Number 3 Principal Balance $ 871,440.70
ix) The Scheduled Principal Balance of any Mortgage Loan replaced pursuant
to Section 2.03(b), and of any Modified Mortgage Loan purchased
pursuant to Section 3.01(c): .........................$ 0.00
x) The Certificate Interest Rates, applicable to the Interest Accrual
Period relating to such Distribution Date:
Class 5-S1: ........................ 0.449814%
Class 5-S2: ........................ 0.324497%
1. Senior Percentage for such Distribution Date: ....... 95.44685700%
2. Category A-Senior Percentage for such Distribution
Date:................................................ 10.02192000%
3. Category B-Senior Percentage for such Distribution
Date: ............................................... 85.42493700%
4. Category A-Percentage for such Distribution Date: ... 10.50000000%
<PAGE>
5. Category B-Percentage for such Distribution Date: ... 89.50000000%
6. Group I Senior Percentage for such Distribution Date: 49.08594100%
7. Category A-Group I Senior Percentage for such
Distribution Date: .................................. 7.84915400%
8. Category B-Group I Senior Percentage for such
Distribution Date: .................................. 41.23678700%
9. Group II Senior Percentage for such Distribution
Date: ............................................... 46.36091600%
10. Category A-Group II Senior Percentage for such
Distribution Date: .................................. 2.17276600%
11. Category B-Group II Senior Percentage for such
Distribution Date: .................................. 44.18815000%
12. Category B-Group I Scheduled Distribution Percentage: 85.42493700%
13. Category B-Group II Scheduled Distribution Percentage: 0.00000000%
14. Senior Prepayment Percentage for such Distribution
Date: ...............................................100.00000000%
15. Category A-Senior Prepayment Percentage for such
Distribution Date: .................................. 10.50000000%
16. Category B-Senior Prepayment Percentage for such
Distribution Date: .................................. 89.50000000%
17. Group I Senior Prepayment Percentage for such
Distribution Date: ..................................100.00000000%
18. Category A-Group I Senior Prepayment Percentage for such
Distribution Date: .................................. 10.50000000%
19. Category B-Group I Senior Prepayment Percentage for such
Distribution Date: .................................. 89.50000000%
20. Group II Senior Prepayment Percentage for such
Distribution Date: .................................. 0.00000000%
21. Category A-Group II Senior Prepayment Percentage for such
Distribution Date: .................................. 0.00000000%
22. Category B-Group II Senior Prepayment Percentage for such
Distribution Date: .................................. 0.00000000%
23. Junior Percentage for such Distribution Date: ....... 4.55314300%
<PAGE>
24. Junior Prepayment Percentage for such Distribution
Date: ............................................... 0.00000000%
25. Subordinate Certificate Writedown Amount for such
Distribution Date: ..................................$ 0.00
* Due to a large servicing transfer in September 1997, the number of
Mortgage Loans 30-59 days delinquent may be inflated due to borrowers sending
monthly paymnets to the wrong location or delays by the Company loading the
Mortgage Loans on its servicing system. It has also been the Company's
experience that for the majority of such Mortgage Loans the routing of
borrowers' monthly payments has corrected itself by the second Distribution Date
after transfer. However, the Company makes no assurances as to the level of
delinquent Mortgage Loans for future Distribution Dates.
Exhibit 99.13
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
December 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-6
Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
(a) Principal ..................................$ 260,102.98
(b) Interest ...................................$ 2,491,312.08
(c) Total ......................................$ 2,751,415.06
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ..................................$ 260,102.98
(b) Interest ...................................$ 2,415,651.88
(c) Total ......................................$ 2,675,754.86
3. Aggregate Principal Prepayments in part received and applied in prior
month:............................................$ 58,876.76
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ..................................$ 4,359,658.61
(b) Interest ...................................$ 26,683.30
(c) Total ......................................$ 4,386,341.91
<PAGE>
5. Aggregate Insurance Proceeds (including purchases of Mortgage Loans by
primary mortgage insurers) for prior month:
(a) Principal ..................................$ 0.00
(b) Interest ...................................$ 0.00
(c) Total ......................................$ 0.00
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal ..................................$ 0.00
(b) Interest ...................................$ 0.00
(c) Total ......................................$ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage Loans:
(a) Principal ..................................$ 0.00
(b) Interest ...................................$ 0.00
(c) Total ......................................$ 0.00
8. Aggregate Purchase Prices ( and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal ..................................$ 0.00
(b) Interest ...................................$ 0.00
(c) Total ......................................$ 0.00
9. Pool Scheduled Principal Balance: ...............$ 368,101,835.32
10. Available Funds: ................................$ 7,120,973.53
11. Realized Losses for prior month: .................$ 0.00
12. Aggregate Realized Losses and Debt Service Reductions:
(a) Deficient Valuations: ........................$ 0.00
(b) Special Hazard Losses: .......................$ 0.00
(c) Fraud Losses: ................................$ 0.00
(d) Excess Bankruptcy Losses: ....................$ 0.00
(e) Excess Special Hazard Losses: ................$ 0.00
(f) Excess Fraud Losses: .........................$ 0.00
(g) Debt Service Reductions: .....................$ 0.00
13. Compensating Interest Payment: ...................$ 2,535.30
<PAGE>
14. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 6-A1......$ 308,578.12 $ 65.14 7.49841704%
Class 6-A2......$ 169,664.18 $ 35.82 7.49841691%
Class 6-A3......$ 50,083.18 $ 10.57 7.49841747%
Class 6-A4......$ 354,971.52 $ 74.93 7.49841716%
Class 6-A5......$ 37,498.99 $ 7.92 7.49841704%
Class 6-A6......$ 231,128.11 $ 48.79 7.49841710%
Class 6-A7 .....$ 12,041.21 $ 2.54 7.49841827%
Class 6-A8 .....$ 123,386.85 $ 26.05 7.49841687%
Class 6-A9 .....$ 23,001.17 $ 4.86 7.49841523%
Class 6-A10 ....$ 55,089.66 $ 11.63 7.49841651%
Class 6-A11 ....$ 0.00 $ 0.00 0.00000000%
Component A11A .$ 0.00 $ 0.00 0.00000000%
Component A11B .$ 0.00 $ 0.00 0.00000000%
Class 6-A12 ....$ 354.68 $ 0.07 7.49847517%
Class 6-A13 ....$ 89,387.38 $ 18.87 7.49841706%
Class 6-A14 ....$ 0.00 $ 0.18 0.00000000%
Class 6-A15 ....$ 55,006.35 $ 11.61 7.49841699%
Class 6-A16 ....$ 133,177.85 $ 28.11 7.14849120%
Class 6-A17 ....$ 445,247.80 $ 93.99 7.24846983%
Class 6-A18 ....$ 131,235.26 $ 27.70 8.99810070%
Class 6-PO .....$ 0.00 $ 0.00 0.00000000%
Class 6-M.......$ 37,442.62 $ 7.90 7.49841839%
Class 6-B1......$ 24,961.74 $ 5.27 7.49841700%
Class 6-B2......$ 18,721.31 $ 3.95 7.49841964%
Class 6-B3......$ 12,480.92 $ 2.63 7.49844890%
Class 6-B4......$ 3,744.32 $ 0.79 7.49854070%
Class 6-B5......$ 8,736.70 $ 1.84 7.49846847%
Class 6-S.......$ 115,531.47 $ 24.00 0.39174659%
Class 6-R.......$ 0.00 $ 0.00 0.00000000%
15. Accrual Amount:
Class A11A Component ............... $ 0.00
Class A11B Component ............... $ 0.00
Class A14 Component ............... $ 863.82
16. Principal distributable:
Class 6-A1.......$ 1,002,394.06 Class 6-A14...$ 0.00
Class 6-A2.......$ 0.00 Class 6-A15...$ 0.00
Class 6-A3.......$ 0.00 Class 6-A16...$ 453,795.89
Class 6-A4.......$ 39,627.87 Class 6-A17...$ 1,496,230.12
Class 6-A5.......$ 0.00 Class 6-A18...$ 355,257.00
Class 6-A6.......$ 950,857.91 Class 6-PO....$ 372.97
Class 6-A7.......$ 0.00 Class 6-M.....$ 4,179.97
Class 6-A8.......$ 13,774.51 Class 6-B1....$ 2,786.65
<PAGE>
Class 6-A9.......$ 0.00 Class 6-B2....$ 2,089.99
Class 6-A10......$ 354,484.76 Class 6-B3....$ 1,393.32
Class 6-A11......$ 0.00 Class 6-B4....$ 418.00
Component-A11A...$ 0.00 Class 6-B5....$ 975.33
Component-A11B...$ 0.00 Class 6-R.....$ 0.00
Class 6-A12......$ 863.82
Class 6-A13......$ 0.00
17. Additional distributions to the Class 6-R Certificate pursuant to
Section 4.01(b): ...............................$ 0.00
18. Certificate Interest Rates of:
Class 6-S Certificates:..... 0.391747%
B. Other Amounts:
1. Senior Percentage for such Distribution Date:........... 95.440637%
2. Category A-Senior Percentage for such Distribution Date: 68.461212%
3. Category B-Senior Percentage for such Distribution Date: 19.729277%
4. Category C-Senior Percentage for such Distribution Date: 7.250148%
5. Category A-Percentage for such Distribution Date: ...... 71.731722%
6. Category B-Percentage for such Distribution Date: ...... 20.671778%
7. Category C-Percentage for such Distribution Date: ...... 7.596500%
8. Group I Senior Percentage for such Distribution Date: .. 70.988025%
9. Category A-Group I Senior Percentage for such
Distribution Date: ..................................... 53.205454%
10. Category B-Group I Senior Percentage for such
Distribution Date: ..................................... 14.426429%
11. Category C-Group I Senior Percentage for such
Distribution Date: ..................................... 3.356142%
12. Category C-Group I Scheduled Distribution Percentage for
such Distribution Date: ................................ 7.250148%
13. Group II Senior Percentage for such Distribution Date: . 24.452612%
<PAGE>
14. Category A-Group II Senior Percentage for such
Distribution Date: ..................................... 15.255758%
15. Category B-Group II Senior Percentage for such
Distribution Date: ..................................... 5.302848%
16. Category C-Group II Senior Percentage for such
Distribution Date: ..................................... 3.894006%
17. Category C-Group II Scheduled Distribution Percentage
for such Distribution Date: ............................ 0.000000%
18. Senior Prepayment Percentage for such Distribution Date: 100.000000%
19. Category A-Senior Prepayment Percentage for such
Distribution Date: ..................................... 71.731722%
20. Category B-Senior Prepayment Percentage for such
Distribution Date: ..................................... 20.671778%
21. Category C-Senior Prepayment Percentage for such
Distribution Date: ..................................... 7.596500%
22. Group I Senior Prepayment Percentage for such
Distribution Date: ..................................... 100.000000%
23. Category A-Group I Senior Prepayment Percentage for such
Distribution Date: ..................................... 71.731722%
24. Category B-Group I Senior Prepayment Percentage for such
Distribution Date: ..................................... 20.671778%
25. Category C-Group I Senior Prepayment Percentage for such
Distribution Date: ..................................... 7.596500%
26. Group II Senior Prepayment Percentage for such
Distribution Date: ..................................... 0.000000%
27. Category A-Group II Senior Prepayment Percentage for such
Distribution Date: ..................................... 0.000000%
28. Category B-Group II Senior Prepayment Percentage for such
Distribution Date: ..................................... 0.000000%
29. Category C-Group II Senior Prepayment Percentage for such
Distribution Date: ..................................... 0.000000%
30. Junior Percentage for such Distribution Date: .......... 4.559363%
31. Junior Prepayment Percentage for such Distribution Date: 0.000000%
<PAGE>
32. Subordinate Certificate Writedown Amount for such
Distribution Date: .....................................$ 0.00
33. Prepayment Distribution Triggers satisfied:
YES NO
--- --
Class 6-B1....... X
Class 6-B2....... X
Class 6-B3....... X
Class 6-B4....... X
Class 6-B5....... X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
---------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.14
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
December 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-6
Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
(a) The amounts below (other than for Class R) are for a Single Certificate of
$1,000:
i) The amount of such distribution allocable to principal:
Class 6-A1.......$ 18.09125743 Class 6-A13....$ 0.00000000
Class 6-A2.......$ 0.00000000 Class 6-A14....$ 0.00000000
Class 6-A3.......$ 0.00000000 Class 6-A15....$ 0.00000000
Class 6-A4.......$ 0.69522579 Class 6-A16....$ 18.09125739
Class 6-A5.......$ 0.00000000 Class 6-A17....$ 18.09125744
Class 6-A6.......$ 23.40514494 Class 6-A18....$ 18.09125789
Class 6-A7.......$ 0.00000000 Class 6-PO.....$ 0.89154686
Class 6-A8.......$ 0.69522586 Class 6-M......$ 0.69522545
Class 6-A9.......$ 0.00000000 Class 6-B1.....$ 0.69522634
Class 6-A10......$ 33.31009764 Class 6-B2.....$ 0.69522723
Class 6-A11......$ 0.00000000 Class 6-B3.....$ 0.69522401
Component A11A...$ 0.00000000 Class 6-B4.....$ 0.69523101
Component A11B...$ 0.00000000 Class 6-B5.....$ 0.69522564
Class 6-A12......$ 14.16098361 Class 6-R......$ 0.00000000
ii) Principal Prepayments included in the above principal distribution
(including the Scheduled Principal Balances of all Defaulted Mortgage
Loans and Defective Mortgage Loans purchased pursuant to Section 2.02,
2.03 (b) or 3.16, respectively, and any amounts deposited pursuant to
Section 2.03(b) in connection with the substitution of any Mortgage
Loans pursuant to Section 2.02 or 2.03(a), the proceeds of which are
being distributed on such Distribution Date):
Class 6-A1.......$ 17.12885594 Class 6-A14....$ 0.00000000
Class 6-A2.......$ 0.00000000 Class 6-A15....$ 0.00000000
Class 6-A3.......$ 0.00000000 Class 6-A16....$ 17.12885590
Class 6-A4.......$ 0.65824183 Class 6-A17....$ 17.12885595
<PAGE>
Class 6-A5.......$ 0.00000000 Class 6-A18....$ 17.12885637
Class 6-A6.......$ 22.16006032 Class 6-PO.....$ 0.84411920
Class 6-A7.......$ 0.00000000 Class 6-M......$ 0.00000000
Class 6-A8.......$ 0.65824190 Class 6-B1.....$ 0.00000000
Class 6-A9.......$ 0.00000000 Class 6-B2.....$ 0.00000000
Class 6-A10......$ 31.53809878 Class 6-B3.....$ 0.00000000
Class 6-A11......$ 0.00000000 Class 6-B4.....$ 0.00000000
Component A11A...$ 0.00000000 Class 6-B5.....$ 0.00000000
Component A11B...$ 0.00000000 Class 6-R......$ 0.00000000
Class 6-A12......$ 13.40766108
Class 6-A13......$ 0.00000000
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 6-A1.......$ 5.56923313 Class 6-A15....$ 6.24868083
Class 6-A2.......$ 6.24868076 Class 6-A16....$ 5.30933580
Class 6-A3.......$ 6.24868122 Class 6-A17....$ 5.38359205
Class 6-A4.......$ 6.22757053 Class 6-A18....$ 6.68307995
Class 6-A5.......$ 6.24868087 Class 6-M......$ 6.22757154
Class 6-A6.......$ 5.68916434 Class 6-B1.....$ 6.22757040
Class 6-A7.......$ 6.24868189 Class 6-B2.....$ 6.22757258
Class 6-A8.......$ 6.22757028 Class 6-B3.....$ 6.22759690
Class 6-A9.......$ 6.24867935 Class 6-B4.....$ 6.22767319
Class 6-A10......$ 5.17664554 Class 6-B5.....$ 6.22761307
Class 6-A11......$ 0.00000000 Class 6-R......$ 0.00000000
Component A11A...$ 0.00000000 Class 6-S......$ 0.57646638
Component A11B...$ 0.00000000
Class 6-A12......$ 5.81442623
Class 6-A13......$ 6.24868088
Class 6-A14......$ 0.00000000
iv) Accrual Amount:
Class A11A Component ............... $ 0.00
Class A11B Component ............... $ 0.00
Class A14 Component ............... $ 863.82
v) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:.........$ 75,464.87
(b) The amounts below are for the aggregate of all Certificates.
vi) The Pool Scheduled Principal Balances of each Mortgage Pool on the
preceding Due Date after giving effect to all distributions allocable
to principal made on such Distribution Date:...........$368,101,835.32
<PAGE>
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:..................... 1,250
vii) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to (i) all distributions allocable to principal
made on such Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date:
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 6-A1..................$ 48,380,527.98 $ 873.17
Class 6-A2..................$ 27,152,000.00 $ 1,000.00
Class 6-A3..................$ 8,015,000.00 $ 1,000.00
Class 6-A4..................$ 56,767,804.25 $ 995.93
Class 6-A5..................$ 6,001,105.00 $ 1,000.00
Class 6-A6..................$ 36,037,446.20 $ 887.05
Class 6-A7..................$ 1,927,000.00 $ 1,000.00
Class 6-A8..................$ 19,732,289.57 $ 995.93
Class 6-A9..................$ 3,680,965.00 $ 1,000.00
Class 6-A10.................$ 8,461,722.22 $ 795.13
Class 6-A11.................$ 0.00 $ 0.00
Component A11A..............$ 0.00 $ 0.00
Component A11B..............$ 0.00 $ 0.00
Class 6-A12.................$ 55,896.52 $ 916.34
Class 6-A13.................$ 14,305,000.00 $ 1,000.00
Class 6-A14.................$ 139,103.48 $ 1,038.09
Class 6-A15.................$ 8,802,874.00 $ 1,000.00
Class 6-A16.................$ 21,902,449.03 $ 873.17
Class 6-A17.................$ 72,215,514.88 $ 873.17
Class 6-A18.................$ 17,146,471.11 $ 873.17
Class 6-PO..................$ 412,938.48 $ 987.09
Class 6-M...................$ 5,987,902.85 $ 995.93
Class 6-B1..................$ 3,991,934.90 $ 995.93
Class 6-B2..................$ 2,993,950.92 $ 995.93
Class 6-B3..................$ 1,995,966.96 $ 995.93
Class 6-B4..................$ 598,789.79 $ 995.93
Class 6-B5..................$ 1,397,182.18 $ 995.93
Class 6-R...................$ 0.00 $ 0.00
Class 6-S...................$ 349,234,307.09 $ 915.24
viii)The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in lieu of
foreclosure or otherwise, of any REO Mortgage Loan:
book value...........................................$ 0.00
unpaid principal balance.............................$ 0
number of related mortgage loans..................... 0
<PAGE>
ix) The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the month
preceding the related Determination Date, were:
(a) delinquent
(1) 30-59 days
Number 13 Principal Balance $ 3,796,478.38
(2) 60-89 days
Number 2 Principal Balance $ 468,320.29
(3) 90 days or more
Number 0 Principal Balance $ 0.00
(b) in foreclosure
Number 1 Principal Balance $ 240,000.00
x) The Scheduled Principal Balance of any Mortgage Loan and number of
replaced pursuant to Section 2.03(b), and of any Modified Mortgage
Loan purchased pursuant to Section 3.01(c): $ 0.00 $ 0.00
xi) The Scheduled Principal Balance of any Mortgage Loan and number of any
Modified Mortgage Loan purchased pursuant to Section 3.01(c):
$ 0.00 $ 0.00
xii) The Certificate Interest Rates, applicable to the Interest Accrual
Period relating to such Distribution Date:
Class 6-S: ........................ 0.391747%
xiii) Senior Percentage for such Distribution Date: .......... 95.44063700%
xiv) Category A-Senior Percentage for such Distribution Date: 68.46121200%
xv) Category B-Senior Percentage for such Distribution Date: 19.72927700%
xvi) Category C-Senior Percentage for such Distribution Date: 7.25014800%
xvii) Category A-Percentage for such Distribution Date: ...... 71.73172200%
xviii)Category B-Percentage for such Distribution Date: ...... 20.67177800%
xix) Category C-Percentage for such Distribution Date: ...... 7.59650000%
xx) Group I Senior Percentage for such Distribution Date: .. 70.98802500%
xxi) Category A-Group I Senior Percentage for such
Distribution Date: ..................................... 53.20545400%
<PAGE>
xxii) Category B-Group I Senior Percentage for such
Distribution Date: ..................................... 14.42642900%
xxiii) Category C-Group I Senior Percentage for such
Distribution Date: ..................................... 3.35614200%
xxiv) Category C-Group I Scheduled Distribution Percentage
for such Distribution Date: ............................ 7.25014800%
xxv) Group II Senior Percentage for such Distribution Date: . 24.45261200%
xxvi) Category A-Group II Senior Percentage for such
Distribution Date: ..................................... 15.25575800%
xxvii) Category B-Group II Senior Percentage for such
Distribution Date: ..................................... 5.30284800%
xxviii)Category C-Group II Senior Percentage for such
Distribution Date: ..................................... 3.89400600%
xxix) Category C-Group II Scheduled Distribution Percentage
for such Distribution Date: ............................ 0.00000000%
xxx) Senior Prepayment Percentage for such Distribution Date:100.00000000%
xxxi) Category A-Senior Prepayment Percentage for such
Distribution Date: ..................................... 71.73172200%
xxxii) Category B-Senior Prepayment Percentage for such
Distribution Date: ..................................... 20.67177800%
xxxiii) Category C-Senior Prepayment Percentage for such
Distribution Date: ..................................... 7.59650000%
xxxiv) Group I Senior Prepayment Percentage for such
Distribution Date: .....................................100.00000000%
xxxv) Category A-Group I Senior Prepayment Percentage for such
Distribution Date: ..................................... 71.73172200%
xxxvi) Category B-Group I Senior Prepayment Percentage for such
Distribution Date: ..................................... 20.67177800%
xxxvii) Category C-Group I Senior Prepayment Percentage for such
Distribution Date: ..................................... 7.59650000%
xxxviii)Group II Senior Prepayment Percentage for such
Distribution Date: ..................................... 0.00000000%
xxxix) Category A-Group II Senior Prepayment Percentage for such
Distribution Date: ..................................... 0.00000000%
xxxx) Category B-Group II Senior Prepayment Percentage for such
Distribution Date: ..................................... 0.00000000%
<PAGE>
xxxxi) Category C-Group II Senior Prepayment Percentage for such
Distribution Date: ..................................... 0.00000000%
xxxxii) Junior Percentage for such Distribution Date: .......... 4.55936300%
xxxxiii)Junior Prepayment Percentage for such Distribution Date: 0.00000000%
Exhibit 99.15
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
DECEMBER 1997
Home Equity Loan Pass-Through Certificates
Series 1997-HE2
Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company"),
and The First National Bank of Chicago (the "Trustee"), governing the
Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
(1) Aggregate Monthly Payments Due: $ 2,229,143.68
(2) Aggregate Monthly Payments received and Monthly Advances made this
Month:
(a) Principal $ 299,546.68
(b) Interest $ 1,881,387.89
(c) Total $ 2,180,934.57
(3) Aggregate Principal Prepayments in part received on Self- Amortizing
Mortgage Loans and applied in the applicable Prepayment Period:
(a) Principal $ 38,381.64
(c) Total $ 38,381.64
(4) Aggregate Principal Prepayments in full received in the applicable
Prepayment period:
(a) Principal $ 3,492,272.55
(b) Interest $ 40,201.20
(c) Total $ 3,532,473.75
(5) Aggregate Insurance Proceeds (inculding purchases of Mortgage Loans by
primary mortgage insurers) for prior month:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
<PAGE>
(6) Aggregate Liquidation Proceeds for prior month:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(7) Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(8) Aggregate Purchase Prices for (and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(9) Aggregate Purchase Prices for for Document Deficiencies per Sec. 2.02:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(10) Pool Principal Balance: $ 235,682,311.17
(11) Available Funds: $ 5,647,561.90
(12) Realized Losses for prior month: $ 0.00
(13) Aggregate Realized Losses: $ 0.00
(a) Deficient Valuations $ 0.00
(b) Special Hazard Losses $ 0.00
(c) Fraud Losses $ 0.00
(d) Excess Bankruptcy Losses $ 0.00
(e) Excess Special Hazard Losses $ 0.00
(f) Excess Fraud Losses $ 0.00
(14) Compensating Interest Payment: $ 3,644.43
(15) Net Simple Interest Shortfall: $ 0.00
(16) Net Simple Interest Excess: $ 0.00
<PAGE>
(17) Simple Interest Shortfall Payment: $ 0.00
(18) Unpaid Net Simple Interest Shortfall:
Class A1 36157RAA3 $ 0.00
Class A2 36157RAB1 $ 0.00
Class A3 36157RAC9 $ 0.00
Class A4 36157RAD7 $ 0.00
Class A5 36157RAE5 $ 0.00
Class A6 36157RAF2 $ 0.00
Class A7 36157RAG0 $ 0.00
Class S 36197HE2S $ 0.00
Class M 36157RAH8 $ 0.00
Class B1 36157RAJ4 $ 0.00
Class B2 36157RAK1 $ 0.00
Class B3 36157RAL9 $ 0.00
Class B4 36157RAM7 $ 0.00
Class B5 36157RAN5 $ 0.00
(19) Class Certificate Interest Rate:
Class M 36157RAH8 7.410%
Class B1 36157RAJ4 7.585%
Class B2 36157RAK1 7.925%
Class B3 36157RAL9 9.253%
Class B4 36157RAM7 9.253%
Class B5 36157RAN5 9.253%
Class S 36197HE2S 2.19%
(20) Accrued Certificate Interest and Pay-out Rate:
Class A1 36157RAA3 $ 326,774.57 6.740%
Class A2 36157RAB1 $ 236,637.08 6.745%
Class A3 36157RAC9 $ 125,259.17 6.895%
Class A4 36157RAD7 $ 178,770.00 7.080%
Class A5 36157RAE5 $ 82,028.75 7.185%
Class A6 36157RAF2 $ 169,316.94 7.485%
Class A7 36157RAG0 $ 133,072.80 7.120%
Class S 36197HE2S $ 430,825.47 2.19%
Class M 36157RAH8 $ 37,475.77 7.410%
Class B1 36157RAJ4 $ 38,360.83 7.585%
Class B2 36157RAK1 $ 12,026.73 7.925%
Class B3 36157RAL9 $ 18,720.76 9.253%
Class B4 36157RAM7 $ 14,042.48 9.253%
Class B5 36157RAN5 $ 14,049.69 9.253%
Total $ 1,817,361.03
<PAGE>
(21) Principal distributable:
Class A1 36157RAA3 $ 3,804,743.38
Class A2 36157RAB1 $ 0.00
Class A3 36157RAC9 $ 0.00
Class A4 36157RAD7 $ 0.00
Class A5 36157RAE5 $ 0.00
Class A6 36157RAF2 $ 0.00
Class A7 36157RAG0 $ 0.00
Class M 36157RAH8 $ 7,713.49
Class B1 36157RAJ4 $ 7,713.49
Class B2 36157RAK1 $ 2,314.55
Class B3 36157RAL9 $ 3,085.65
Class B4 36157RAM7 $ 2,314.55
Class B5 36157RAN5 $ 2,315.74
Class R1 36157RAP0 $ 0.00
Class R2 36157RAQ8 $ 0.00
Total $ 3,830,200.87
(22) Additional distributions to the Class R1 Certificate pursuant to
Section 2.05 (d) : $ 0.00
(23) Additional distributions to the Class R2 Certificate pursuant to
Section 4.01 (b) : $ 0.00
B. Other Amounts:
(1) Senior Percentage for such Distribution Date: 91.501330%
(2) Senior Prepayment Percentage for such Distribution Date: 100.000000%
(3) Junior Percentage for such Distribution Date: 8.498670%
(4) Junior Prepayment Percentage for such Distribution Date: 0.000000%
(5) Subordinate Certfificate Writedown Amount for such
Distribution Date: $ 0.00
(6) Prepayment Distribution Triggers satisfied:
Yes No
--- --
Class B1 X
Class B2 X
Class B3 X
Class B4 X
Class B5 X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
----------------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.16
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
DECEMBER 1997
Home Equity Loan Pass-Through Certificates
Series 1997-HE2
Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company"),
and The First National Bank of Chicago (the "Trustee"), governing the
Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
The amounts below are for a Single Certificate of $1,000:
(1) Amount of distribution allocable to principal:
Class A1 36157RAA3 $ 56.95723630
Class A2 36157RAB1 $ 0.00000000
Class A3 36157RAC9 $ 0.00000000
Class A4 36157RAD7 $ 0.00000000
Class A5 36157RAE5 $ 0.00000000
Class A6 36157RAF2 $ 0.00000000
Class A7 36157RAG0 $ 0.00000000
Class M 36157RAH8 $ 1.26202454
Class B1 36157RAJ4 $ 1.26202454
Class B2 36157RAK1 $ 1.26202454
Class B3 36157RAL9 $ 1.26202454
Class B4 36157RAM7 $ 1.26202454
Class B5 36157RAN5 $ 1.26202454
Class R1 36157RAP0 $ 0.00000000
Class R2 36157RAQ8 $ 0.00000000
(2) Aggregate Principal prepayments included in distribution:
Class A1 36157RAA3 $ 3,530,654.19
Class A2 36157RAB1 $ 0.00
Class A3 36157RAC9 $ 0.00
Class A4 36157RAD7 $ 0.00
Class A5 36157RAE5 $ 0.00
Class A6 36157RAF2 $ 0.00
Class A7 36157RAG0 $ 0.00
Class M 36157RAH8 $ 0.00
Class B1 36157RAJ4 $ 0.00
Class B2 36157RAK1 $ 0.00
Class B3 36157RAL9 $ 0.00
Class B4 36157RAM7 $ 0.00
Class B5 36157RAN5 $ 0.00
Class R1 36157RAP0 $ 0.00
Class R2 36157RAQ8 $ 0.00
<PAGE>
(3) Amount of distribution allocable to interest Pay-out Rate:
Class A1 36157RAA3 $ 4.89183484 6.740
Class A2 36157RAB1 $ 5.62083333 6.745
Class A3 36157RAC9 $ 5.74583333 6.895
Class A4 36157RAD7 $ 5.90000000 7.080
Class A5 36157RAE5 $ 5.98750000 7.185
Class A6 36157RAF2 $ 6.23750000 7.485
Class A7 36157RAG0 $ 5.93333333 7.120
Class S 36197HE2S $ 1.82799239 2.19
Class M 36157RAH8 $ 6.13150718 7.410
Class B1 36157RAJ4 $ 6.27631336 7.585
Class B2 36157RAK1 $ 6.55765107 7.925
Class B3 36157RAL9 $ 7.65675062 9.253
Class B4 36157RAM7 $ 7.65675062 9.253
Class B5 36157RAN5 $ 7.65675062 9.253
(4) Servicing Compensation: $ 114,249.92
The amounts below are for the aggregate of all Certificates:
(5) Pool Principal Balance: $ 235,682,311.17
number of Mortgage Loans: 3,310
(6) Class Certificate Principal Balance of each Class; Certificate
Principal Balance of Single Certificate of each class:
Single
Certificate
Class Cusip# Class Balance Balance
----- ------ ------------- -------
Class A1 36157RAA3 $ 54,374,704.82 $ 813.99258715
Class A2 36157RAB1 $ 42,100,000.00 $ 1,000.00000000
Class A3 36157RAC9 $ 21,800,000.00 $ 1,000.00000000
Class A4 36157RAD7 $ 30,300,000.00 $ 1,000.00000000
Class A5 36157RAE5 $ 13,700,000.00 $ 1,000.00000000
Class A6 36157RAF2 $ 27,145,000.00 $ 1,000.00000000
Class A7 36157RAG0 $ 22.428,000.00 $ 1,000.00000000
Class M 36157RAH8 $ 6,061,237.42 $ 991.69460402
Class B1 36157RAJ4 $ 6,061,237.42 $ 991.69460402
Class B2 36157RAK1 $ 1,818,767.90 $ 991.69460402
Class B3 36157RAL9 $ 2,424,693.31 $ 991.69460402
Class B4 36157RAM7 $ 1,818,767.90 $ 991.69460402
Class B5 36157RAN5 $ 1,819,701.52 $ 991.69460402
Class R1 36157RAP0 $ 0.00 $ 0.00000000
Class R2 36157RAQ8 $ 0.00 $ 0.00000000
<PAGE>
(7) Book value of real estate acquired on behalf of Certificate-
holders; $ 0.00
number of related Mortgage Loans: 0
(8) Aggregate Scheduled Principal Balance and number of delinquent
Mortgage Loans:
One Payment Delinquent $ 3,292,062.69
48
Two Payments Delinquent $ 1,351,255.47
22
Three or more Payments Delinquent $ 746,827.55
8
TOTAL $ 5,390,145.71
78
In foreclosure $ 812,187.90
8
(9) Aggregate Scheduled Principal Balance and number of replaced Mortgage
Loans: $ 0.00
0
(10) Unpaid Net Simple Interest Shortfall:
Class A1 36157RAA3 $ 0.00
Class A2 36157RAB1 $ 0.00
Class A3 36157RAC9 $ 0.00
Class A4 36157RAD7 $ 0.00
Class A5 36157RAE5 $ 0.00
Class A6 36157RAF2 $ 0.00
Class A7 36157RAG0 $ 0.00
Class S 36197HE2S $ 0.00
Class M 36157RAH8 $ 0.00
Class B1 36157RAJ4 $ 0.00
Class B2 36157RAK1 $ 0.00
Class B3 36157RAL9 $ 0.00
Class B4 36157RAM7 $ 0.00
Class B5 36157RAN5 $ 0.00
(11) Class Certificate Interest Rate of
Class M 36157RAH8 7.410%
Class B1 36157RAJ4 7.585%
Class B2 36157RAK1 7.925%
Class B3 36157RAL9 9.253%
Class B4 36157RAM7 9.253%
Class B5 36157RAN5 9.253%
Class S 36197HE2S 2.19%
<PAGE>
(12) Senior Percentage for such Distribution Date: 91.501330%
(13) Senior Prepayment Percentage for such Distribution Date: 100.000000%
(14) Junior Percentage for such Distribution Date: 8.498670%
(15) Junior Prepayment Percentage for such Distribution Date 0.000000%
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
-----------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.17
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
December 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-7
Pursuant to the Pooling and Servicing Agreement dated as of July 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
(a) Principal ..............................$ 227,539.61
(b) Interest ...............................$ 2,226,663.65
(c) Total ..................................$ 2,454,203.26
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ..............................$ 227,539.61
(b) Interest ...............................$ 2,159,309.34
(c) Total ..................................$ 2,386,848.95
3. Aggregate Principal Prepayments in part received and applied in prior
month: ......................................$ 52,619.74
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ..............................$ 3,445,469.54
(b) Interest ...............................$ 20,292.86
(c) Total ..................................$ 3,465,762.40
<PAGE>
5. Aggregate Insurance Proceeds for prior month:
(a) Principal ..............................$ 0.00
(b) Interest ...............................$ 0.00
(c) Total ..................................$ 0.00
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal ..............................$ 0.00
(b) Interest ...............................$ 0.00
(c) Total ..................................$ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage Loans:
(a) Principal ..............................$ 0.00
(b) Interest ...............................$ 0.00
(c) Total ..................................$ 0.00
8. Aggregate Purchase Prices ( and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal ..............................$ 0.00
(b) Interest ...............................$ 0.00
(c) Total ..................................$ 0.00
9. Pool Scheduled Principal Balance: ...........$ 326,941,507.37
10. Available Funds: ............................$ 5,905,231.09
11. Realized Losses for prior month: .............$ 0.00
12. Aggregate Realized Losses:
(a) Deficient Valuations: ....................$ 0.00
(b) Special Hazard Losses: ...................$ 0.00
(c) Fraud Losses: ............................$ 0.00
(d) Excess Bankruptcy Losses: ................$ 0.00
(e) Excess Special Hazard Losses: ............$ 0.00
(f) Excess Fraud Losses: .....................$ 0.00
(g) Debt Service Reductions: .................$ 0.00
13. Non-Credit Losses: ...........................$ 0.00
14. Compensating Interest Payment: ...............$ 2,724.70
<PAGE>
15. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 7-A1......$ 215,637.18 $ 0.00 8.99999985%
Class 7-A2......$ 31,032.53 $ 0.00 7.19999889%
Class 7-A3......$ 814,493.53 $ 0.00 7.14999998%
Class 7-A4......$ 93,606.89 $ 0.00 7.12500036%
Class 7-A5......$ 222,556.45 $ 0.00 8.00000006%
Class 7-A6......$ 71,426.62 $ 0.00 7.12499972%
Class 7-A7......$ 25,052.50 $ 0.00 7.50000077%
Class 7-A8......$ 17,250.00 $ 0.00 7.50000000%
Class 7-A9......$ 0.00 $ 0.00 0.00000000%
Class 7-A10.....$ 66,666.67 $ 0.00 8.00000040%
Class 7-A11.....$ 250,000.00 $ 0.00 7.50000000%
Class 7-A12.....$ 120,833.33 $ 0.00 7.24999980%
Class 7-M.......$ 32,747.94 $ 0.00 7.50000011%
Class 7-B1......$ 21,831.96 $ 0.00 7.50000013%
Class 7-B2......$ 16,373.97 $ 0.00 7.50000152%
Class 7-B3......$ 10,915.98 $ 0.00 7.50000013%
Class 7-B4......$ 3,274.79 $ 0.00 7.50000386%
Class 7-B5......$ 7,641.19 $ 0.00 7.49999080%
Class 7-S.......$ 114,688.17 $ 0.00 0.43361400%
Class 7-R.......$ 0.00 $ 0.00 0.00000000%
16. Accrual Amount:
Class 7-A9.................... $ 43,572.50
17. Principal distributable:
Class 7-A1......$ 530,735.98 Class 7-A11.....$ 0.00
Class 7-A2......$ 95,473.35 Class 7-A12.....$ 0.00
Class 7-A3......$ 2,523,358.69 Class 7-PO......$ 263.36
Class 7-A4......$ 190,946.71 Class 7-M.......$ 3,604.81
Class 7-A5......$ 374,637.16 Class 7-B1......$ 2,403.21
Class 7-A6......$ 0.00 Class 7-B2......$ 1,802.41
Class 7-A7......$ 43,572.50 Class 7-B3......$ 1,201.60
Class 7-A8......$ 0.00 Class 7-B4......$ 360.48
Class 7-A9......$ 0.00 Class 7-B5......$ 841.13
Class 7-A10.....$ 0.00 Class 7-R.......$ 0.00
18. Additional distributions to the Class 7-R Certificate:
pursuant to Section 4.01(b): .........................$ 0.00
pursuant to Section 2.05(d): .........................$ 0.00
<PAGE>
19. Certificate Interest Rate of:
Class 7-S Certificates:.......... 0.433614%
B. Other Amounts:
1. Senior Percentage for such Distribution Date: ........... 95.506600%
2. Senior Prepayment Percentage for such Distribution Date: 100.000000%
3. Junior Percentage for such Distribution Date: ........... 4.493400%
4. Junior Prepayment Percentage for such Distribution Date: 0.000000%
5. Subordinate Certificate Writedown Amount for such
Distribution Date: ......................................$ 0.00
6. Prepayment Distribution Triggers satisfied:
YES NO
--- --
Class 7-B1........ X
Class 7-B2........ X
Class 7-B3........ X
Class 7-B4........ X
Class 7-B5........ X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
------------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.18
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
December 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-7
Pursuant to the Pooling and Servicing Agreement dated as of July 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
(a) The amounts below are for a Single Certificate of $1,000:
i) The amount of such distribution allocable to principal:
Class 7-A1....$ 16.82586901 Class 7-A11....$ 0.00000000
Class 7-A2....$ 16.82586973 Class 7-A12....$ 0.00000000
Class 7-A3....$ 16.82588028 Class 7-PO.....$ 0.93396128
Class 7-A4....$ 11.38648513 Class 7-M......$ 0.68614704
Class 7-A5....$ 10.59681563 Class 7-B1.....$ 0.68614799
Class 7-A6....$ 0.00000000 Class 7-B2.....$ 0.68614907
Class 7-A7....$ 10.42404306 Class 7-B3.....$ 0.68614513
Class 7-A8....$ 0.00000000 Class 7-B4.....$ 0.68614631
Class 7-A9....$ 0.00000000 Class 7-B5.....$ 0.68615209
Class 7-A10...$ 0.00000000 Class 7-R......$ 0.00000000
ii) Principal Prepayments included in the above principal distribution
(including the Scheduled Principal Balances of all Defaulted Mortgage
Loans and Defective Mortgage Loans purchased pursuant to Section 2.02,
2.03(b) or 3.16, respectively, and any amounts deposited pursuant to
Section 2.03(b) in connection with the substitution of any Mortgage
Loans pursuant to Section 2.02 or 2.03(a), the proceeds of which are
being distributed on such Distribution Date):
Class 7-A1....$ 15.84167261 Class 7-A8....$ 0.00000000
Class 7-A2....$ 15.84167329 Class 7-A9....$ 0.00000000
Class 7-A3....$ 15.84168322 Class 7-10....$ 0.00000000
Class 7-A4....$ 10.72045489 Class 7-11....$ 0.00000000
Class 7-A5....$ 9.97697556 Class 7-12....$ 0.00000000
Class 7-A6....$ 0.00000000 Class 7-PO....$ 0.87933104
Class 7-A7....$ 9.81430899 Class 7-M.....$ 0.00000000
<PAGE>
Class 7-B1....$ 0.00000000 Class 7-B4....$ 0.00000000
Class 7-B2....$ 0.00000000 Class 7-B5....$ 0.00000000
Class 7-B3....$ 0.00000000 Class 7-R.....$ 0.00000000
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest; Pay-out Rate:
Class 7-A1....$ 6.83632367 Class 7-M.....$ 6.23331104
Class 7-A2....$ 5.46905819 Class 7-B1....$ 6.23331104
Class 7-A3....$ 5.43108306 Class 7-B2....$ 6.23331223
Class 7-A4....$ 5.58194201 Class 7-B3....$ 6.23331104
Class 7-A5....$ 6.29513011 Class 7-B4....$ 6.23331411
Class 7-A6....$ 5.93749977 Class 7-B5....$ 6.23330337
Class 7-A7....$ 5.99342105 Class 7-R.....$ 0.00000000
Class 7-A8....$ 6.25000000 Class 7-S.....$ 0.34040183
Class 7-A9....$ 0.00000000
Class 7-A10...$ 6.66666700
Class 7-A11...$ 6.25000000
Class 7-A12...$ 6.04166650
iv) Accrual Amount:
Class 7-A9........... $ 43,572.50
v) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:.......$ 0.19994610
(b) The amounts below are for the aggregate of all Certificates.
vi) The Pool Scheduled Principal Balances of each Mortgage Pool on the
preceding Due Date after giving effect to all distributions allocable
to principal made on such Distribution Date:.........$ 326,941,507.37
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:................... 1,162
vii) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to (i) all distributions allocable to principal
made on such Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date: Class Certificate Single Principal Balance
Certificate Balance
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 7-A1....$ 28,220,888.49 $ 894.68
Class 7-A2....$ 5,076,615.78 $ 894.68
Class 7-A3....$ 134,174,856.58 $ 894.68
Class 7-A4....$ 15,574,423.45 $ 928.73
Class 7-A5....$ 33,008,830.07 $ 933.67
<PAGE>
Class 7-A6....$ 12,029,747.00 $ 1,000.00
Class 7-A7....$ 3,964,827.09 $ 948.52
Class 7-A8....$ 2,760,000.00 $ 1,000.00
Class 7-A9....$ 7,015,172.91 $ 1,031.64
Class 7-A10...$ 10,000,000.00 $ 1,000.00
Class 7-A11...$ 40,000,000.00 $ 1,000.00
Class 7-A12...$ 20,000,000.00 $ 1,000.00
Class 7-PO....$ 280,626.31 $ 995.19
Class 7-M.....$ 5,236,065.51 $ 996.64
Class 7-B1....$ 3,490,710.33 $ 996.64
Class 7-B2....$ 2,618,032.26 $ 996.64
Class 7-B3....$ 1,745,355.17 $ 996.64
Class 7-B4....$ 523,605.65 $ 996.64
Class 7-B5....$ 1,221,750.77 $ 996.64
Class 7-S.....$ 313,678,631.53 $ 931.02
Class 7-R.....$ 0.00 $ 0.00
viii)The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in lieu of
foreclosure or otherwise, of any REO Mortgage Loan:
book value...........................................$ 0.00
unpaid principal balance.............................$ 0.00
number of related mortgage loans..................... 0
ix) The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the month
preceding the related Determination Date, were:
(a) delinquent
(1) 30-59 days
Number 11 Principal Balance $ 2,775,661.48
(2) 60-89 days
Number 0 Principal Balance $ 0.00
(3) 90 days or more
Number 0 Principal Balance $ 0.00
(b) in foreclosure
Number 1 Principal Balance $ 112,379.80
x) The Scheduled Principal Balance of any Mortgage Loan replaced pursuant
to Section 2.03(b), and of any Modified Mortgage Loan purchased
pursuant to Section 3.01(c): .......................$ 0.00
<PAGE>
xi) The Senior Percentage for such Distribution Date: ..... 95.506600%
The Junior Percentage for such Distribution Date: ..... 4.493400%
xii) The Senior Prepayment Percentage for such Distribution
Date: ................................................. 100.000000%
The Junior Prepayment Percentage for such Distribution
Date: ................................................. 0.000000%
Exhibit 99.19
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
December 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-8
Pursuant to the Pooling and Servicing Agreement dated as of September 1,
1997 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company") and State Street Bank and Trust Company (the "Trustee"), governing
the Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
(a) Principal ................................$ 350,426.42
(b) Interest .................................$ 3,169,111.46
(c) Total ....................................$ 3,519,537.88
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ................................$ 350,426.42
(b) Interest .................................$ 3,069,434.47
(c) Total ....................................$ 3,419,860.89
3. Aggregate Principal Prepayments in part received and applied in prior
month: ........................................$ 88,698.86
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ................................$ 4,924,031.65
(b) Interest .................................$ 29,909.21
(c) Total ....................................$ 4,953,940.86
<PAGE>
5. Aggregate Insurance Proceeds (including purchases of Mortgage Loans by
primary mortgage insurers) for prior month:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage Loans:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
8. Aggregate Purchase Prices ( and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal ................................$ 0.00
(b) Interest .................................$ 0.00
(c) Total ....................................$ 0.00
9. Pool Scheduled Principal Balance: .............$ 484,970,446.63
10. Available Funds: ..............................$ 8,462,500.61
11. Realized Losses for prior month: ...............$ 0.00
12. Aggregate Realized Losses and Debt Service Reductions:
(a) Deficient Valuations: ......................$ 0.00
(b) Special Hazard Losses: .....................$ 0.00
(c) Fraud Losses: ..............................$ 0.00
(d) Excess Bankruptcy Losses: ..................$ 0.00
(e) Excess Special Hazard Losses: ..............$ 0.00
(f) Excess Fraud Losses: .......................$ 0.00
(g) Debt Service Reductions: ...................$ 0.00
13. Compensating Interest Payment: .................$ 2,885.18
<PAGE>
14. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 8-A1.....$ 111,993.87 $ 0.00 7.25000001%
Class 8-A2.....$ 77,316.89 $ 0.00 7.25000026%
Class 8-A3.....$ 164,767.50 $ 0.00 6.75000000%
Class 8-A4.....$ 73,861.88 $ 0.00 6.75000046%
Class 8-A5.....$ 104,917.50 $ 0.00 6.75000000%
Class 8-A6.....$ 132,324.58 $ 0.00 7.24999982%
Class 8-A7 ....$ 598,528.31 $ 0.00 7.24999995%
Class 8-A8 ....$ 323,090.23 $ 0.00 7.24999998%
Class 8-A9 ....$ 0.00 $ 0.00 0.00000000%
Class 8-A10 ...$ 0.00 $ 0.00 0.00000000%
Class 8-A11 ...$ 130,373.12 $ 0.00 7.24999972%
Class 8-A12 ...$ 25,447.91 $ 0.00 7.24999887%
Class 8-A13 ...$ 179,570.42 $ 0.00 7.25000013%
Class 8-A14 ...$ 132,718.77 $ 0.00 6.78749984%
Class 8-A15 ...$ 43,261.93 $ 0.00 9.16607211%
Class 8-A16 ...$ 454,002.02 $ 0.00 7.24999995%
Class 8-A17 ...$ 178,125.00 $ 0.00 7.12500000%
Class 8-A18 ...$ 1,625.00 $ 0.00 0.06500000%
Class 8-A19 ...$ 1,500.00 $ 0.00 0.06000000%
Class 8-M......$ 46,865.72 $ 0.00 7.24999964%
Class 8-B1.....$ 28,723.96 $ 0.00 7.25000055%
Class 8-B2.....$ 22,678.71 $ 0.00 7.24999872%
Class 8-B3.....$ 15,119.16 $ 0.00 7.25000833%
Class 8-B4.....$ 4,535.19 $ 0.00 7.25008072%
Class 8-B5.....$ 10,582.51 $ 0.00 7.25004008%
Class 8-R......$ 0.29 $ 0.00 7.20795360%
Class 8-RL.....$ 0.29 $ 0.00 7.20795360%
Class 8-S......$ 139,684.74 $ 0.00 0.36221147%
15. Accrual Amount:
Class A9 Certificate $ 25,994.40
Class A10 Certificate $ 71,733.78
16. Principal distributable:
Class 8-A1......$ 13,245.95 Class 8-A15.....$ 516,748.98
Class 8-A2......$ 311,099.71 Class 8-A16.....$ 1,327,830.93
Class 8-A3......$ 0.00 Class 8-A17.....$ 0.00
Class 8-A4......$ 0.00 Class 8-A18.....$ 0.00
Class 8-A5......$ 0.00 Class 8-A19.....$ 0.00
Class 8-A6......$ 0.00 Class 8-PO......$ 474.24
Class 8-A7......$ 379,801.61 Class 8-M.......$ 5,542.99
Class 8-A8......$ 755,666.29 Class 8-B1......$ 3,397.29
Class 8-A9......$ 0.00 Class 8-B2......$ 2,682.30
Class 8-A10.....$ 0.00 Class 8-B3......$ 1,788.20
Class 8-A11.....$ 0.00 Class 8-B4......$ 536.39
<PAGE>
Class 8-A12.....$ 0.00 Class 8-B5......$ 1,251.66
Class 8-A13.....$ 0.00 Class 8-R.......$ 0.85
Class 8-A14.....$ 2,140,816.87 Class 8-RL......$ 0.85
17. Additional distributions to the Class 8-R Certificate pursuant to
Sections 2.05(c) and 4.01(b): ...................$ 0.00
18. Additional distributions to the Class 8-RL Certificate pursuant to
Sections 2.05(d): ...............................$ 0.00
19. Certificate Interest Rates of:
Class A14 Certificates:..... 6.787500%
Class A15 Certificates:..... 9.166072%
Class S Certificates:....... 0.362211%
20. Draw Amount:
Class A9 Certificate:.......$ 0.00
21. Distributions of amounts in Reserve Fund to Senior Certificates (other
than the Class PO Certificates) and the Class S Certificates pursuant
to the second paragraph of Section 4.01 (g):
Class A1 Certificates:.....$ 0.00
Class A2 Certificates:.....$ 0.00
Class A3 Certificates:.....$ 0.00
Class A4 Certificates:.....$ 0.00
Class A5 Certificates:.....$ 0.00
Class A6 Certificates:.....$ 0.00
Class A7 Certificates:.....$ 0.00
Class A8 Certificates:.....$ 0.00
Class A9 Certificates:.....$ 0.00
Class A10 Certificates:....$ 0.00
Class A11 Certificates:....$ 0.00
Class A12 Certificates:....$ 0.00
Class A13 Certificates:....$ 0.00
Class A14 Certificates:....$ 0.00
Class A15 Certificates:....$ 0.00
Class A16 Certificates:....$ 0.00
Class A17 Certificates:....$ 0.00
Class A18 Certificates:....$ 0.00
Class A19 Certificates:....$ 0.00
Class R Certificates:......$ 0.00
Class RL Certificates:.....$ 0.00
Class S Certificates:......$ 0.00
<PAGE>
B. Other Amounts:
1. Senior Percentage for such Distribution Date: ............. 95.658110%
2. Category B-Group I Senior Percentage for such Distribution
Date: ..................................................... 89.784667%
3. Category B-Group II Senior Percentage for such Distribution
Date: ..................................................... 10.000000%
4. Senior Prepayment Percentage for such Distribution Date:...100.000000%
5. Category B-Group I Senior Prepayment Percentage for
such Distribution Date: ...................................100.000000%
6. Junior Percentage for such Distribution Date: ............. 4.341890%
7. Junior Prepayment Percentage for such Distribution
Date: ..................................................... 0.000000%
8. Subordinate Certificate Writedown Amount for such
Distribution Date: ........................................$ 0.00
9. Prepayment Distribution Triggers satisfied:
YES NO
--- --
Class 8-B1....... X
Class 8-B2....... X
Class 8-B3....... X
Class 8-B4....... X
Class 8-B5....... X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
----------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.20
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
December 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-8
Pursuant to the Pooling and Servicing Agreement dated as of September 1,
1997 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company") and State Street Bank and Trust Company (the "Trustee"), governing
the Certificates referred to above, the Company hereby certifies to the Trustee:
(a) The amounts below (other than for Class R) are for a Single Certificate of
$1,000:
i) The amount of such distribution allocable to principal:
Class 8-A1....$ 0.71356731 Class 8-A15....$ 76.34928400
Class 8-A2....$ 23.32256616 Class 8-A16....$ 17.06221344
Class 8-A3....$ 0.00000000 Class 8-A17....$ 0.00000000
Class 8-A4....$ 0.00000000 Class 8-A18....$ 0.00000000
Class 8-A5....$ 0.00000000 Class 8-A19....$ 0.00000000
Class 8-A6....$ 0.00000000 Class 8-PO.....$ 1.02804577
Class 8-A7....$ 3.81349891 Class 8-M......$ 0.71356720
Class 8-A8....$ 13.73938709 Class 8-B1.....$ 0.71356648
Class 8-A9....$ 0.00000000 Class 8-B2.....$ 0.71356744
Class 8-A10...$ 0.00000000 Class 8-B3.....$ 0.71356744
Class 8-A11...$ 0.00000000 Class 8-B4.....$ 0.71356924
Class 8-A12...$ 0.00000000 Class 8-B5.....$ 0.71358578
Class 8-A13...$ 0.00000000 Class 8-R......$ 17.00000000
Class 8-A14...$ 76.34928302 Class 8-RL.....$ 0.00000170
ii) Principal Prepayments included in the above principal distribution
(including the Scheduled Principal Balances of all Defaulted Mortgage
Loans and Defective Mortgage Loans purchased pursuant to Section 2.02,
2.03 (b) or 3.16, respectively, and any amounts deposited pursuant to
Section 2.03(b) in connection with the substitution of any Mortgage
Loans pursuant to Section 2.02 or 2.03(a), the proceeds of which are
being distributed on such Distribution Date):
Class 8-A1....$ 0.66883856 Class 8-A14....$ 71.56345870
Class 8-A2....$ 21.86063096 Class 8-A15....$ 71.56345961
Class 8-A3....$ 0.00000000 Class 8-A16....$ 15.99269775
Class 8-A4....$ 0.00000000 Class 8-A17....$ 0.00000000
<PAGE>
Class 8-A5....$ 0.00000000 Class 8-A18....$ 0.00000000
Class 8-A6....$ 0.00000000 Class 8-A19....$ 0.00000000
Class 8-A7....$ 3.57445625 Class 8-PO.....$ 0.96360448
Class 8-A8....$ 12.87815709 Class 8-M......$ 0.00000000
Class 8-A9....$ 0.00000000 Class 8-B1.....$ 0.00000000
Class 8-A10...$ 0.00000000 Class 8-B2.....$ 0.00000000
Class 8-A11...$ 0.00000000 Class 8-B3.....$ 0.00000000
Class 8-A12...$ 0.00000000 Class 8-B4.....$ 0.00000000
Class 8-A13...$ 0.00000000 Class 8-B5.....$ 0.00000000
Class 8-R......$ 15.93438405
Class 8-RL.....$ 0.00000159
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 8-A1....$ 6.03317729 Class 8-A15....$ 6.39191853
Class 8-A2....$ 5.79630332 Class 8-A16....$ 5.83378440
Class 8-A3....$ 5.62500000 Class 8-A17....$ 5.93750000
Class 8-A4....$ 5.62500038 Class 8-A18....$ 0.05416667
Class 8-A5....$ 5.62500000 Class 8-A19....$ 0.05000000
Class 8-A6....$ 6.04166651 Class 8-M......$ 6.03317714
Class 8-A7....$ 6.00968241 Class 8-B1.....$ 6.03317790
Class 8-A8....$ 5.87436782 Class 8-B2.....$ 6.03317638
Class 8-A9....$ 0.00000000 Class 8-B3.....$ 6.03318436
Class 8-A10...$ 0.00000000 Class 8-B4.....$ 6.03324465
Class 8-A11...$ 6.04166643 Class 8-B5.....$ 6.03321079
Class 8-A12...$ 6.04166790 Class 8-R......$ 5.80000000
Class 8-A13...$ 6.04166678 Class 8-RL.....$ 5.80000000
Class 8-A14...$ 4.73323201 Class 8-S......$ 0.55745898
iv) Accrual Amount:
Class 8-A9 Certificates $ 25,994.40
Class 8-A10 Certificates $ 71,733.78
v) The amount of servicing compensation received by the Company during
the month preceding the month of distribution: $ 98,909.10
(b) The amounts below are for the aggregate of all Certificates.
vi) The Pool Scheduled Principal Balances of each Mortgage Pool on the
preceding Due Date after giving effect to all distributions allocable
to principal made on such Distribution Date: $ 484,970,446.63
<PAGE>
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above: 1,603
vii) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to (i) all distributions allocable to principal
made on such Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date:
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 8-A1..................$ 18,523,670.45 $ 997.88
Class 8-A2..................$ 12,486,178.17 $ 936.07
Class 8-A3..................$ 29,292,000.00 $ 1,000.00
Class 8-A4..................$ 13,131,000.00 $ 1,000.00
Class 8-A5..................$ 18,652,000.00 $ 1,000.00
Class 8-A6..................$ 21,902,000.00 $ 1,000.00
Class 8-A7..................$ 98,686,953.83 $ 990.89
Class 8-A8..................$ 52,721,337.44 $ 958.57
Class 8-A9..................$ 4,328,515.82 $ 1,018.23
Class 8-A10.................$ 11,944,911.56 $ 1,018.23
Class 8-A11.................$ 21,579,000.00 $ 1,000.00
Class 8-A12.................$ 4,212,068.52 $ 1,000.00
Class 8-A13.................$ 29,722,000.00 $ 1,000.00
Class 8-A14.................$ 21,323,275.63 $ 760.47
Class 8-A15.................$ 5,146,998.30 $ 760.47
Class 8-A16.................$ 73,817,331.51 $ 948.53
Class 8-A17.................$ 30,000,000.00 $ 1,000.00
Class 8-A18.................$ 30,000,000.00 $ 1,000.00
Class 8-A19.................$ 30,000,000.00 $ 1,000.00
Class 8-PO..................$ 458,563.63 $ 994.06
Class 8-M...................$ 7,751,542.09 $ 997.88
Class 8-B1..................$ 4,750,912.97 $ 997.88
Class 8-B2..................$ 3,751,035.88 $ 997.88
Class 8-B3..................$ 2,500,690.58 $ 997.88
Class 8-B4..................$ 750,107.39 $ 997.88
Class 8-B5..................$ 1,750,326.52 $ 997.88
Class 8-R...................$ 47.43 $ 948.60
Class 8-RL..................$ 47.43 $ 948.60
Class 8-S...................$ 457,437,121.98 $ 966.13
viii)The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in lieu of
foreclosure or otherwise, of any REO Mortgage Loan:
book value........................................$ 0.00
unpaid principal balance..........................$ 0.00
number of related mortgage loans.................. 0
<PAGE>
ix) The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the month
preceding the related Determination Date, were:
(a) delinquent
(1) 30-59 days
Number 5 Principal Balance $ 1,402,478.26
(2) 60-89 days
Number 1 Principal Balance $ 274,374.93
(3) 90 days or more
Number 0 Principal Balance $ 0.00
(b) in foreclosure
Number 0 Principal Balance $ 0.00
x) The Scheduled Principal Balance of any Mortgage Loan and number of
replaced pursuant to Section 2.03(b), and of any Modified Mortgage
Loan purchased pursuant to Section 3.01(c): $ 0.00 $ 0.00
xi) The Scheduled Principal Balance of any Mortgage Loan and number of any
Modified Mortgage Loan purchased pursuant to Section 3.01(c):
$ 0.00 $ 0.00
xii) The Certificate Interest Rates, applicable to the Interest Accrual
Period relating to such Distribution Date:
Class 8-A14 Certificates: ............... 6.787500%
Class 8-A15 Certificates: ............... 9.166072%
Class 8-S Certificates: ................. 0.362211%
xiii) Senior Percentage for such Distribution Date: .......... 95.65811000%
xiv) Category B Group I Senior Percentage for such
Distribution Date: ..................................... 89.78466700%
xv) Category B Group II Senior Percentage for such
Distribution Date: ..................................... 10.00000000%
xvi) Senior Prepayment Percentage for such Distribution Date:100.00000000%
xvii) Category B Group I Senior Prepayment Percentage for
such Distribution Date: ................................100.00000000%
xviii) Junior Percentage for such Distribution Date: .......... 4.34189000%
xix) Junior Prepayment Percentage for such Distribution Date: 0.00000000%
Exhibit 99.21
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
December 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-10
Pursuant to the Pooling and Servicing Agreement dated as of September 1,
1997 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company") and State Street Bank and Trust Company (the "Trustee"), governing
the Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
(a) Principal ...................................$ 472,438.75
(b) Interest ....................................$ 957,155.74
(c) Total .......................................$ 1,429,594.49
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal ...................................$ 472,438.75
(b) Interest ....................................$ 926,483.33
(c) Total .......................................$ 1,398,922.08
3. Aggregate Principal Prepayments in part received and applied in prior
month: ...........................................$ 56,157.73
4. Aggregate Principal Prepayments in full received in prior month:
(a) Principal ...................................$ 1,874,224.24
(b) Interest ....................................$ 8,935.29
(c) Total .......................................$ 1,883,159.53
<PAGE>
5. Aggregate Insurance Proceeds (including purchases of Mortgage Loans by
primary mortgage insurers) for prior month:
(a) Principal ...................................$ 0.00
(b) Interest ....................................$ 0.00
(c) Total .......................................$ 0.00
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal ...................................$ 0.00
(b) Interest ....................................$ 0.00
(c) Total .......................................$ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage Loans:
(a) Principal ...................................$ 0.00
(b) Interest ....................................$ 0.00
(c) Total .......................................$ 0.00
8. Aggregate Purchase Prices ( and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal ...................................$ 0.00
(b) Interest ....................................$ 0.00
(c) Total .......................................$ 0.00
9. Pool Scheduled Principal Balance: ................$ 149,794,236.85
10. Available Funds: .................................$ 3,338,239.34
11. Realized Losses for prior month: ..................$ 0.00
12. Aggregate Realized Losses and Debt Service Reductions:
(a) Deficient Valuations: ..........................$ 0.00
(b) Special Hazard Losses: .........................$ 0.00
(c) Fraud Losses: ..................................$ 0.00
(d) Excess Bankruptcy Losses: ......................$ 0.00
(e) Excess Special Hazard Losses: ..................$ 0.00
(f) Excess Fraud Losses: ...........................$ 0.00
(g) Debt Service Reductions: .......................$ 0.00
13. Compensating Interest Payment: ....................$ 3,082.87
<PAGE>
14. Accrued Certificate Interest, Unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 10-A1.....$ 276,008.13 $ 0.00 6.74999999%
Class 10-A2.....$ 109,140.82 $ 0.00 6.75000008%
Class 10-A3.....$ 161,900.58 $ 0.00 6.75000015%
Class 10-A4.....$ 56,546.67 $ 0.00 6.74999955%
Class 10-A5.....$ 114,020.69 $ 0.00 6.74999996%
Class 10-A6.....$ 114,605.28 $ 0.00 6.74999995%
Class 10-M......$ 8,670.87 $ 0.00 6.75000166%
Class 10-B1.....$ 4,332.64 $ 0.00 6.75000211%
Class 10-B2.....$ 4,332.64 $ 0.00 6.75000211%
Class 10-B3.....$ 2,599.58 $ 0.00 6.74999161%
Class 10-B4.....$ 1,733.06 $ 0.00 6.75001765%
Class 10-B5.....$ 2,169.67 $ 0.00 6.74984795%
Class 10-S......$ 79,357.99 $ 0.00 0.62853492%
Class 10-R......$ 0.00 $ 0.00 0.00000000%
15. Principal distributable:
Class 10-A1......$ 792,526.35 Class 10-M.....$ 4,784.95
Class 10-A2......$ 775,796.77 Class 10-B1....$ 2,390.93
Class 10-A3......$ 758,065.34 Class 10-B2....$ 2,390.93
Class 10-A4......$ 0.00 Class 10-B3....$ 1,434.56
Class 10-A5......$ 0.00 Class 10-B4....$ 956.37
Class 10-A6......$ 63,244.06 Class 10-B5....$ 1,197.36
Class 10-PO......$ 33.10 Class 10-R.....$ 0.00
16. Additional distributions to the Class 10-R Certificate pursuant to
Section 4.01(b): ...............................$ 0.00
17. Certificate Interest Rates of:
Class 10-S Certificates:..... 0.628535%
B. Other Amounts:
1. Senior Percentage for such Distribution Date: .......... 97.215326%
2. Category A-Senior Percentage for such Distribution Date: 32.241655%
3. Category B-Senior Percentage for such Distribution Date: 64.973670%
4. Category A-Percentage for such Distribution Date: ...... 33.165198%
5. Category B-Percentage for such Distribution Date: ...... 66.834802%
<PAGE>
6. Cat. B Group I Senior Percentage for such Distribution Date: 51.586152%
7. Cat. B Group II Senior Percentage for such Distribution Date:13.387518%
8. Senior Prepayment Percentage for such Distribution Date: 100.000000%
9. Junior Percentage for such Distribution Date: .......... 2.784674%
10. Junior Prepayment Percentage for such Distribution Date: 0.000000%
11. Class A6 Percentage:.................................... 20.604529%
12. Class A6 Prepayment Distribution Percentage:............ 0.000000%
13. Subordinate Certificate Writedown Amount for such
Distribution Date: .....................................$ 0.00
14. Prepayment Distribution Triggers satisfied:
YES NO
--- --
Class 10-B1....... X
Class 10-B2....... X
Class 10-B3....... X
Class 10-B4....... X
Class 10-B5....... X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
---------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.22
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
December 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-10
Pursuant to the Pooling and Servicing Agreement dated as of September 1,
1997 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company") and State Street Bank and Trust Company (the "Trustee"), governing
the Certificates referred to above, the Company hereby certifies to the Trustee:
(a) The amounts below (other than for Class R) are for a Single Certificate of
$1,000:
i) The amount of such distribution allocable to principal:
Class 10-A1......$ 15.85052700 Class 10-M.....$ 3.08507415
Class 10-A2......$ 38.23730938 Class 10-B1....$ 3.08507097
Class 10-A3......$ 25.56863004 Class 10-B2....$ 3.08507097
Class 10-A4......$ 0.00000000 Class 10-B3....$ 3.08507527
Class 10-A5......$ 0.00000000 Class 10-B4....$ 3.08506452
Class 10-A6......$ 3.08507610 Class 10-B5....$ 3.08511976
Class 10-PO......$ 3.86921809 Class 10-R.....$ 0.00000000
ii) Principal Prepayments included in the above principal distribution
(including the Scheduled Principal Balances of all Defaulted Mortgage
Loans and Defective Mortgage Loans purchased pursuant to Section 2.02,
2.03 (b) or 3.16, respectively, and any amounts deposited pursuant to
Section 2.03(b) in connection with the substitution of any Mortgage
Loans pursuant to Section 2.02 or 2.03(a), the proceeds of which are
being distributed on such Distribution Date):
Class 10-A1......$ 12.80412256 Class 10-M.....$ 0.00000000
Class 10-A2......$ 30.88825978 Class 10-B1....$ 0.00000000
Class 10-A3......$ 20.65444718 Class 10-B2....$ 0.00000000
Class 10-A4......$ 0.00000000 Class 10-B3....$ 0.00000000
Class 10-A5......$ 0.00000000 Class 10-B4....$ 0.00000000
Class 10-A6......$ 2.49213748 Class 10-B5....$ 0.00000000
Class 10-PO......$ 3.12557069 Class 10-R.....$ 0.00000000
<PAGE>
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 10-A1......$ 5.52016260 Class 10-B1....$ 5.59050323
Class 10-A2......$ 5.37930997 Class 10-B2....$ 5.59050323
Class 10-A3......$ 5.46071138 Class 10-B3....$ 5.59049462
Class 10-A4......$ 5.62499963 Class 10-B4....$ 5.59051613
Class 10-A5......$ 5.62499997 Class 10-B5....$ 5.59037532
Class 10-A6......$ 5.59050146 Class 10-R.....$ 0.00000000
Class 10-M.......$ 5.59050290 Class 10-S.....$ 0.00000000
iv) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:....$ 31,961.35
(b) The amounts below are for the aggregate of all Certificates.
v) The Pool Scheduled Principal Balances of each Mortgage Pool on the
preceding Due Date after giving effect to all distributions allocable
to principal made on such Distribution Date:......$ 149,794,236.85
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:................ 481
vi) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to (i) all distributions allocable to principal
made on such Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date:
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 10-A1................$ 48,275,585.69 $ 965.51
Class 10-A2................$ 18,627,015.44 $ 918.08
Class 10-A3................$ 28,024,259.37 $ 945.22
Class 10-A4................$ 10,052,742.00 $ 1,000.00
Class 10-A5................$ 20,270,345.00 $ 1,000.00
Class 10-A6................$ 20,311,028.10 $ 990.78
Class 10-PO................$ 8,460.31 $ 988.97
Class 10-M.................$ 1,536,702.67 $ 990.78
Class 10-B1................$ 767,855.94 $ 990.78
Class 10-B2................$ 767,855.94 $ 990.78
Class 10-B3................$ 460,713.57 $ 990.78
Class 10-B4................$ 307,142.38 $ 990.78
Class 10-B5................$ 384,530.44 $ 990.78
Class 10-R.................$ 0.00 $ 0.00
Class 10-S.................$ 149,110,273.08 $ 966.11
<PAGE>
vii) The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in lieu of
foreclosure or otherwise, of any REO Mortgage Loan:
book value........................................$ 0.00
unpaid principal balance..........................$ 0.00
number of related mortgage loans.................. 0
viii)The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the month
preceding the related Determination Date, were:
(a) delinquent
(1) 30-59 days
Number 4 Principal Balance $ 1,570,417.10
(2) 60-89 days
Number 0 Principal Balance $ 0.00
(3) 90 days or more
Number 0 Principal Balance $ 0.00
(b) in foreclosure
Number 0 Principal Balance $ 0.00
ix) The Scheduled Principal Balance of any Mortgage Loan and number of
replaced pursuant to Section 2.03(b), and of any Modified Mortgage
Loan purchased pursuant to Section 3.01(c): $ 0.00 $ 0.00
x) The Scheduled Principal Balance of any Mortgage Loan and number of any
Modified Mortgage Loan purchased pursuant to Section 3.01(c):
$ 0.00 $ 0.00
xi) The Certificate Interest Rates, applicable to the Interest Accrual
Period relating to such Distribution Date:
Class 6-S: ........................ 0.628535%
xii) Senior Percentage for such Distribution Date: ........... 97.21532600%
xiii) Category A-Senior Percentage for such Distribution Date: 32.24165500%
xiv) Category B-Senior Percentage for such Distribution Date: 64.97367000%
xv) Category A-Percentage for such Distribution Date: ....... 33.165198%
xvi) Category B-Percentage for such Distribution Date: ....... 66.834802%
<PAGE>
xvii) Senior Prepayment Percentage for such Distribution Date: 100.00000000%
xviii) Cat. B. Group I Senior Percentage for such Distribution
Date: ................................................... 51.586152%
xix) Cat. B Group II Senior Percentage for such Distribution
Date: ................................................... 13.387518%
xx) Class A6 Percentage:..................................... 20.60452900%
xxi) Class A6 Prepayment Distribution Percentage:............. 0.00000000%
xxii) Junior Percentage for such Distribution Date: ........... 2.78467400%
xxii) Junior Prepayment Percentage for such Distribution Date: 0.00000000%
Exhibit 99.23
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
DECEMBER 1997
Home Equity Loan Pass-Through Certificates
Series 1997-HE3
Pursuant to the Pooling and Servicing Agreement dated as of September 1,
1997 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company"), and The First National Bank of Chicago (the "Trustee"), governing
the Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
(1) Aggregate Monthly Payments Due: $ 2,233,905.13
(2) Aggregate Monthly Payments received and Monthly Advances made this
Month:
(a) Principal $ 343,437.88
(b) Interest $ 1,857,592.57
(c) Total $ 2,201,030.45
(3) Aggregate Principal Prepayments in part received on Self- Amortizing
Mortgage Loans and applied in the applicable Prepayment Period:
(a) Principal $ 51,308.55
(c) Total $ 51,308.55
(4) Aggregate Principal Prepayments in full received in the applicable
Prepayment period:
(a) Principal $ 1,825,169.51
(b) Interest $ 21,198.70
(c) Total $ 1,846,368.21
(5) Aggregate Insurance Proceeds (inculding purchases of Mortgage Loans by
primary mortgage insurers) for prior month:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
<PAGE>
(6) Aggregate Liquidation Proceeds for prior month:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(7) Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(8) Aggregate Purchase Prices for (and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(9) Aggregate Purchase Prices for for Document Deficiencies per Sec. 2.02:
(a) Principal $ 0.00
(b) Interest $ 0.00
(c) Total $ 0.00
(10) Pool Principal Balance $ 233,020,833.54
(11) Available Funds: $ 3,994,494.06
(12) Realized Losses for prior month: $ 0.00
(13) Aggregate Realized Losses: $ 0.00
(a) Deficient Valuations $ 0.00
(b) Special Hazard Losses $ 0.00
(c) Fraud Losses $ 0.00
(d) Excess Bankruptcy Losses $ 0.00
(e) Excess Special Hazard Losses $ 0.00
(f) Excess Fraud Losses $ 0.00
<PAGE>
(14) Compensating Interest Payment: $ 1,455.24
(15) Net Simple Interest Shortfall: $ 0.00
(16) Net Simple Interest Excess: $ 0.00
(17) Simple Interest Shortfall Payment: $ 0.00
(18) Unpaid Net Simple Interest Shortfall:
Class A1 36157NBK9 $ 0.00
Class A2 36157NBL7 $ 0.00
Class A3 36157NBM5 $ 0.00
Class A4 36157NBN3 $ 0.00
Class A5 36157NBP8 $ 0.00
Class A6 36157NBQ6 $ 0.00
Class S 36197HE3S $ 0.00
Class M 36157NBT0 $ 0.00
Class B1 36157NBU7 $ 0.00
Class B2 36157NBV5 $ 0.00
Class B3 36157NBW3 $ 0.00
Class B4 36157NBX1 $ 0.00
Class B5 36157NBY9 $ 0.00
(19) Class Certificate Interest Rate:
Class M 36157NBT0 7.200%
Class B1 36157NBU7 7.250%
Class B2 36157NBV5 7.600%
Class B3 36157NBW3 9.139%
Class B4 36157NBX1 9.139%
Class B5 36157NBY9 9.139%
Class S 36197HE3S 2.40%
(20) Accrued Certificate Interest and Pay-out Rate:
Class A1 36157NBK9 $ 399,613.84 6.530%
Class A2 36157NBL7 $ 69,983.33 6.460%
Class A3 36157NBM5 $ 293,400.00 6.520%
Class A4 36157NBN3 $ 149.227.23 6.790%
Class A5 36157NBP8 $ 135,552.08 7.150%
Class A6 36157NBQ6 $ 134,400.00 6.720%
Class S 36197HE3S $ 465.093.40 2.40%
Class M 36157NBT0 $ 35,384.48 7.200%
Class B1 36157NBU7 $ 32,064.77 7.250%
Class B2 36157NBV5 $ 14,937.59 7.600%
Class B3 36157NBW3 $ 17,969.33 9.139%
Class B4 36157NBX1 $ 13,475.10 9.139%
Class B5 36157NBY9 $ 13,476.96 9.139%
Total $ 1,774,578.12
<PAGE>
(21) Principal distributable:
Class A1 36157NBK9 $ 2,191,232.00
Class A2 36157NBL7 $ 0.00
Class A3 36157NBM5 $ 0.00
Class A4 36157NBN3 $ 0.00
Class A5 36157NBP8 $ 0.00
Class A6 36157NBQ6 $ 0.00
Class M 36157NBT0 $ 8,691.91
Class B1 36157NBU7 $ 7,822.13
Class B2 36157NBV5 $ 3,476.17
Class B3 36157NBW3 $ 3,477.64
Class B4 36157NBX1 $ 2,607.87
Class B5 36157NBY9 $ 2,608.22
Class R1 36157NBR4 $ 0.00
Class R2 36157NBS2 $ 0.00
Total $ 2,219,915.94
(22) Additional distributions to the Class R1 Certificate pursuant to
Section 2.05 (d) : $ 0.00
(23) Additional distributions to the Class R2 Certificate pursuant to
Section 4.01 (b) : $ 0.00
B. Other Amounts:
(1) Senior Percentage for such Distribution Date: 91.647998%
(2) Senior Prepayment Percentage for such Distribution Date: 100.000000%
(3) Junior Percentage for such Distribution Date: 8.352002%
(4) Junior Prepayment Percentage for such Distribution Date: 0.000000%
(5) Subordinate Certfificate Writedown Amount for such
Distribution Date: $ 0.000000%
(6) Prepayment Distribution Triggers satisfied:
Yes No
--- --
Class B1 X
Class B2 X
Class B3 X
Class B4 X
Class B5 X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
-----------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.24
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
DECEMBER 1997
Home Equity Loan Pass-Through Certificates
Series 1997-HE3
Pursuant to the Pooling and Servicing Agreement dated as of September 1,
1997 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company"), and The First National Bank of Chicago (the "Trustee"), governing
the Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
The amounts below are for a Single Certificate of $1,000:
(1) Amount of distribution allocable to principal:
Class A1 36157NBK9 $ 28.45755844
Class A2 36157NBL7 $ 0.00000000
Class A3 36157NBM5 $ 0.00000000
Class A4 36157NBN3 $ 0.00000000
Class A5 36157NBP8 $ 0.00000000
Class A6 36157NBQ6 $ 0.00000000
Class M 36157NBT0 $ 1.46921994
Class B1 36157NBU7 $ 1.46921994
Class B2 36157NBV5 $ 1.46921994
Class B3 36157NBW3 $ 1.46921994
Class B4 36157NBX1 $ 1.46921994
Class B5 36157NBY9 $ 1.46921994
Class R1 36157NBR4 $ 0.00000000
Class R2 36157NBS2 $ 0.00000000
(2) Aggregate Principal prepayments included in distribution:
Class A1 36157NBK9 $ 1,876,478.06
Class A2 36157NBL7 $ 0.00
Class A3 36157NBM5 $ 0.00
Class A4 36157NBN3 $ 0.00
Class A5 36157NBP8 $ 0.00
Class A6 36157NBQ6 $ 0.00
Class M 36157NBT0 $ 0.00
Class B1 36157NBU7 $ 0.00
Class B2 36157NBV5 $ 0.00
Class B3 36157NBW3 $ 0.00
Class B4 36157NBX1 $ 0.00
Class B5 36157NBY9 $ 0.00
Class R1 36157NBR4 $ 0.00
Class R2 36157NBS2 $ 0.00
<PAGE>
(3) Amount of distribution allocable to interest Pay-out Rate:
Class A1 36157NBK9 $ 5.18979015 6.530%
Class A2 36157NBL7 $ 5.38333333 6.460%
Class A3 36157NBM5 $ 5.43333333 6.520%
Class A4 36157NBN3 $ 5.65833333 6.790%
Class A5 36157NBP8 $ 5.95833333 7.150%
Class A6 36157NBQ6 $ 5.60000000 6.720%
Class S 36197HE3S $ 1.99593056 2.40%
Class M 36157NBT0 $ 5.98114900 7.200%
Class B1 36157NBU7 $ 6.02268476 7.250%
Class B2 36157NBV5 $ 6.31343506 7.600%
Class B3 36157NBW3 $ 7.59160743 9.139%
Class B4 36157NBX1 $ 7.59160743 9.139%
Class B5 36157NBY9 $ 7.59160743 9.139%
(4) Servicing Compensation: $ 106,035.56
The amounts below are for the aggregate of all Certificates:
(5) Pool Principal Balance; $ 233,020,833.54
number of Mortgage Loans: 3,704
(6) Class Certificate Principal Balance of each Class; Certificate
Principal Balance of Single Certificate of each class:
Single
Certificate
Class Cusip# Class Balance
Balance
Class A1 36157NBK9 $ 71,244,695.97 $ 925.25579181
Class A2 36157NBL7 $ 13,000,000.00 $ 1,000.00000000
Class A3 36157NBM5 $ 54,000,000.00 $ 1,000.00000000
Class A4 36157NBN3 $ 26,373,000.00 $ 1,000.00000000
Class A5 36157NBP8 $ 22,750,000.00 $ 1,000.00000000
Class A6 36157NBQ6 $ 24,000,000.00 $ 1,000.00000000
Class M 36157NBT0 $ 5,888,721.01 $ 995.38894727
Class B1 36157NBU7 $ 5,299,450.76 $ 995.38894727
Class B2 36157NBV5 $ 2,355,090.25 $ 995.38894727
Class B3 36157NBW3 $ 2,356,085.64 $ 995.38894727
Class B4 36157NBX1 $ 1,766,815.38 $ 995.38894727
Class B5 36157NBY9 $ 1,767,058.59 $ 995.38894727
Class R1 36157NBR4 $ 0.00 $ 0.00000000
Class R2 36157NBS2 $ 0.00 $ 0.00000000
(7) Book value of real estate acquired on behalf of Certificate-
holders; $ 0.00
number of related Mortgage Loans: 0
<PAGE>
(8) Aggregate Scheduled Principal Balance and number of delinquent
Mortgage Loans:
One Payment Delinquent $ 2,298,991.41
39
Two Payments Delinquent $ 649,329.53
12
Three or more Payments Delinquent $ 39,280.70
1
TOTAL $ 2,987,601.64
52
In foreclosure $ 72,250.00
1
(9) Aggregate Scheduled Principal Balance and number of replaced Mortgage
Loans: $ 0.00
0
(10) Unpaid Net Simple Interest Shortfall:
Class A1 36157NBK9 $ 0.00
Class A2 36157NBL7 $ 0.00
Class A3 36157NBM5 $ 0.00
Class A4 36157NBN3 $ 0.00
Class A5 36157NBP8 $ 0.00
Class A6 36157NBQ6 $ 0.00
Class S 36197HE3S $ 0.00
Class M 36157NBT0 $ 0.00
Class B1 36157NBU7 $ 0.00
Class B2 36157NBV5 $ 0.00
Class B3 36157NBW3 $ 0.00
Class B4 36157NBX1 $ 0.00
Class B5 36157NBY9 $ 0.00
(11) Class Certificate Interest Rate of:
Class M 36157NBT0 7.200%
Class B1 36157NBU7 7.250%
Class B2 36157NBV5 7.600%
Class B3 36157NBW3 9.139%
Class B4 36157NBX1 9.139%
Class B5 36157NBY9 9.139%
Class S 36197HE3S 2.40%
(12) Senior Percentage for such Distribution Date: 91.647998%
(13) Senior Prepayment Percentage for such Distribution Date: 100.000000%
<PAGE>
(14) Junior Percentage for such Distribution Date: 8.352002%
(15) Junior Prepayment Percentage for such Distribution Date: 0.000000%
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
-----------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.25
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
December 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-9
Pursuant to the Pooling and Servicing Agreement dated as of October 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
Pool 1 Pool 2
------ ------
(a) Principal .....................$ 354,478.31 $ 252,523.19
(b) Interest ......................$ 3,215,714.91 $ 2,237,368.37
(c) Total .........................$ 3,570,193.22 $ 2,489,891.56
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal .....................$ 354,478.31 $ 252,523.19
(b) Interest ......................$ 3,114,100.12 $ 2,166,389.03
(c) Total .........................$ 3,468,578.43 $ 2,418,912.22
3. Aggregate Principal Prepayments in part received and applied in the
applicable Prepayment Period:........$ 102,815.19 $ 281,384.58
4. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal .....................$ 4,304,944.26 $ 1,658,129.49
(b) Interest ......................$ 25,603.45 $ 9,146.77
(c) Total .........................$ 4,330,547.71 $ 1,667,276.26
<PAGE>
5. Aggregate Insurance Proceeds (including purchases of Mortgage Loans by
primary mortgage insurers) for prior month:
Pool 1 Pool 2
------ ------
(a) Principal .....................$ 0.00 $ 0.00
(b) Interest ......................$ 0.00 $ 0.00
(c) Total .........................$ 0.00 $ 0.00
6. Aggregate Liquidation Proceeds for prior month:
(a) Principal .....................$ 0.00 $ 0.00
(b) Interest ......................$ 0.00 $ 0.00
(c) Total .........................$ 0.00 $ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage Loans:
(a) Principal .....................$ 0.00 $ 0.00
(b) Interest ......................$ 0.00 $ 0.00
(c) Total .........................$ 0.00 $ 0.00
8. Aggregate Purchase Prices (and subsitution adjustments) for Defective
Mortgage Loans:
(a) Principal .....................$ 0.00 $ 0.00
(b) Interest ......................$ 0.00 $ 0.00
(c) Total .........................$ 0.00 $ 0.00
9. Pool Scheduled Principal Balance:....$ 346,109,617.47 $491,319,257.85
10. Available Funds: ...................$ 7,901,941.33 $ 4,367,573.06
11. Realized Losses for Prior Month: ...$ 0.00 $ 0.00
12. Aggregrate Realized Losses and Debt Service Reductions:
(a) Deficient Valuations ...........$ 0.00 $ 0.00
(b) Special Hazard Losses ..........$ 0.00 $ 0.00
(c) Fraud Losses ...................$ 0.00 $ 0.00
(d) Excess Bankruptcy Losses .......$ 0.00 $ 0.00
(e) Excess Special Hazard Losses ...$ 0.00 $ 0.00
(f) Excess Fraud Losses ....... ....$ 0.00 $ 0.00
(g) Debt Service Reductions .........$ 0.00 $ 0.00
<PAGE>
13. Compensating Interest Payment: .....$ 2,754.95 $ 2,845.25
14. Accrued Certificate Interest, unpaid Class Interest
Shortfalls and Pay-out Rate:
Class 1-A1.....$ 112,478.87 $ 0.00 6.74999977%
Class 1-A2.....$ 91,068.75 $ 0.00 6.75000000%
Class 1-A3.....$ 104,366.25 $ 0.00 6.75000000%
Class 1-A4.....$ 79,689.38 $ 0.00 6.75000042%
Class 1-A5.....$ 76,185.00 $ 0.00 6.75000000%
Class 1-A6.....$ 444,031.29 $ 0.00 6.99999995%
Class 1-A7.....$ 0.00 $ 0.00 0.00000000%
Class 1-A8.....$ 34,505.63 $ 0.00 7.00000003%
Class 1-A9.....$ 208,936.30 $ 0.00 6.99999999%
Class 1-A10....$ 44,010.52 $ 0.00 7.00000000%
Class 1-A11....$ 135,872.57 $ 0.00 2.28363370%
Class 1-A12....$ 121,019.56 $ 0.00 7.24999990%
Class 1-A13....$ 387,637.34 $ 0.00 7.25000003%
Class 1-A14....$ 254,530.30 $ 0.00 7.25000008%
Class 1-A15....$ 162,097.92 $ 0.00 7.25000015%
Class 1-A16....$ 100,170.83 $ 0.00 7.24999976%
Class 1-A17....$ 121,926.87 $ 0.00 7.24999970%
Class 1-PO.....$ 0.00 $ 0.00 0.00000000%
Class 1-S......$ 142,643.75 $ 0.00 0.34703000%
Class 1-M......$ 46,898.48 $ 0.00 7.25000059%
Class 1-B1.....$ 28,744.03 $ 0.00 7.24999935%
Class 1-B2.....$ 22,691.55 $ 0.00 7.25000156%
Class 1-B3.....$ 15,126.69 $ 0.00 7.24999974%
Class 1-B4.....$ 4,538.31 $ 0.00 7.25000156%
Class 1-B5.....$ 10,597.10 $ 0.00 7.25005323%
Class 1-R......$ 0.00 $ 0.00 0.00000000%
Class 1-RL.....$ 0.00 $ 0.00 0.00000000%
Class 2-A1.....$ 204,451.99 $ 0.00 7.00000003%
Class 2-A2.....$ 102,225.99 $ 0.00 6.99999968%
Class 2-A3.....$ 468,885.02 $ 0.00 6.99999995%
Class 2-A4.....$ 123,410.00 $ 0.00 7.00000000%
Class 2-A5.....$ 58,496.67 $ 0.00 7.00000040%
Class 2-A6.....$ 116,666.67 $ 0.00 7.00000020%
Class 2-A7.....$ 631,340.18 $ 0.00 6.99999995%
Class 2-A8.....$ 65,566.67 $ 0.00 7.00000036%
Class 2-A9.....$ 84,939.17 $ 0.00 7.00000027%
Class 2-A10....$ 87,838.33 $ 0.00 6.99999973%
Class 2-S......$ 144,821.63 $ 0.00 0.51485696%
Class 2-PO.....$ 0.00 $ 0.00 0.00000000%
Class 2-M......$ 31,690.23 $ 0.00 6.99999929%
Class 2-B1.....$ 19,422.76 $ 0.00 6.99999853%
Class 2-B2.....$ 15,333.65 $ 0.00 7.00001929%
Class 2-B3.....$ 10,221.47 $ 0.00 7.00002489%
Class 2-B4.....$ 3,066.18 $ 0.00 7.00009438%
Class 2-B5.....$ 7,159.19 $ 0.00 7.00004280%
<PAGE>
15. Principal Distribution Amount:
Class 1-A1.....$ 297,866.94 Class 2-A1.....$ 25,409.07
Class 1-A2.....$ 0.00 Class 2-A2.....$ 12,704.54
Class 1-A3.....$ 0.00 Class 2-A3.....$ 1,065,109.46
Class 1-A4.....$ 0.00 Class 2-A4.....$ 0.00
Class 1-A5.....$ 0.00 Class 2-A5.....$ 0.00
Class 1-A6.....$ 575,889.30 Class 2-A6.....$ 0.00
Class 1-A7.....$ 2,171,548.93 Class 2-A7.....$ 1,077,814.00
Class 1-A8.....$ 60,136.98 Class 2-A8.....$ 0.00
Class 1-A9.....$ 25,593.69 Class 2-A9.....$ 0.00
Class 1-A10....$ 5,391.08 Class 2-A10....$ 0.00
Class 1-A11....$ 101,721.88 Class 2-PO.....$ 201.18
Class 1-A12....$ 14,313.13 Class 2-M......$ 3,938.43
Class 1-A13....$ 1,748,903.31 Class 2-B1.....$ 2,413.84
Class 1-A14....$ 135,584.62 Class 2-B2.....$ 1,905.64
Class 1-A15....$ 0.00 Class 2-B3.....$ 1,270.31
Class 1-A16....$ 0.00 Class 2-B4.....$ 381.06
Class 1-A17....$ 0.00 Class 2-B5.....$ 889.73
Class 1-PO.....$ 14.98
Class 1-M......$ 5,546.74
Class 1-B1.....$ 3,399.59
Class 1-B2.....$ 2,683.76
Class 1-B3.....$ 1,789.05
Class 1-B4.....$ 536.75
Class 1-B5.....$ 1,253.31
Class 1-R......$ 0.00
Class 1-RL.....$ 0.00
16. Accrual Amount:
Class 1-A7 ............. $ 32,795.04
Class 1-A11C............ $ 307,332.38
Class 1-A11D............ $ 49,808.86
17. Additional Distributions to the Class R Certificate pursuant to
Section 4.01 (c):........................ $ 0.00
18. Additional Distributions to the Class RL Certificate pursuant to
Section 2.05 (d):........................ $ 0.00
<PAGE>
19. Distribution Allocable to Unanticipated Recoveries:
Class 1-A1 $ 0.00 Class 2-A1 $ 0.00
Class 1-A2 $ 0.00 Class 2-A2 $ 0.00
Class 1-A3 $ 0.00 Class 2-A3 $ 0.00
Class 1-A4 $ 0.00 Class 2-A4 $ 0.00
Class 1-A5 $ 0.00 Class 2-A5 $ 0.00
Class 1-A6 $ 0.00 Class 2-A6 $ 0.00
Class 1-A7 $ 0.00 Class 2-A7 $ 0.00
Class 1-A8 $ 0.00 Class 2-A8 $ 0.00
Class 1-A9 $ 0.00 Class 2-A9 $ 0.00
Class 1-A10 $ 0.00 Class 2-A10 $ 0.00
Class 1-A11 $ 0.00 Class 2-PO $ 0.00
Class 1-A12 $ 0.00 Class 2-M $ 0.00
Class 1-A13 $ 0.00 Class 2-B1 $ 0.00
Class 1-A14 $ 0.00 Class 2-B2 $ 0.00
Class 1-A15 $ 0.00 Class 2-B3 $ 0.00
Class 1-A16 $ 0.00 Class 2-B4 $ 0.00
Class 1-A17 $ 0.00 Class 2-B5 $ 0.00
Class 1-PO $ 0.00
Class 1-M $ 0.00
Class 1-B1 $ 0.00
Class 1-B2 $ 0.00
Class 1-B3 $ 0.00
Class 1-B4 $ 0.00
Class 1-B5 $ 0.00
Class 1-R $ 0.00
Class 1-RL $ 0.00
20. Certificate Interest Rate of:
Class 1-A11A.................... 0.00000000%
Class 1-A11B.................... 0.00000000%
Class 1-S....................... 0.34703000%
Class 2-S....................... 0.51485700%
B. Other Amounts for such Distribution Date:
Pool 1 Pool 2
------ ------
1. Senior Percentage: .................... 95.70925900% 95.72104600%
2. Pool 1 Category A Group II Senior
Percentage: ........................... 20.14435900% N/A
3. Class 1-A12 Percentage:................. 10.54744400% N/A
4. Class 2-A1 Percentage:.................. N/A 10.51804800%
5. Class 2-A2 Percentage:.................. N/A 5.25902400%
<PAGE>
6. Senior Prepayment Percentage: ......... 100.00000000% 100.00000000%
7. Junior Percentage: .................... 4.29074100% 4.27895400%
8. Junior Prepayment Percentage: ......... 0.00000000% 0.00000000%
9. Subordinate Certificate Writedown: .... $ 0.00 $ 0.00
10. Prepayment Triggers satisfied:
YES NO
--- --
Class 1-B1.................X
Class 1-B2.................X
Class 1-B3.................X
Class 1-B4.................X
Class 1-B5.................X
Class 2-B1.................X
Class 2-B2.................X
Class 2-B3.................X
Class 2-B4.................X
Class 2-B5.................X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
------------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.26
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
REMIC Multi-Class Pass-Through Certificates
December 1997
Series 1997-9
Pursuant to the Pooling and Servicing Agreement dated as of October 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
(a) The amounts below are for a Single Certificate of $1,000.
1) The amount of such distribution allocable to principal:
Class 1-A1.....$ 14.71311139 Class 2-A1.....$ 0.72444175
Class 1-A2.....$ 0.00000000 Class 2-A2.....$ 0.72444204
Class 1-A3.....$ 0.00000000 Class 2-A3.....$ 13.05841304
Class 1-A4.....$ 0.00000000 Class 2-A4.....$ 0.00000000
Class 1-A5.....$ 0.00000000 Class 2-A5.....$ 0.00000000
Class 1-A6.....$ 7.51617463 Class 2-A6.....$ 0.00000000
Class 1-A7.....$ 269.24105614 Class 2-A7.....$ 9.84961664
Class 1-A8.....$ 10.06476653 Class 2-A8.....$ 0.00000000
Class 1-A9.....$ 0.71404988 Class 2-A9.....$ 0.00000000
Class 1-A10....$ 0.71405033 Class 2-A10....$ 0.00000000
Class 1-A11....$ 1.42965272 Class 2-PO.....$ 1.12082565
Class 1-A12....$ 0.71404989 Class 2-M......$ 0.72444220
Class 1-A13....$ 26.47246363 Class 2-B1.....$ 0.72444178
Class 1-A14....$ 3.21024316 Class 2-B2.....$ 0.72444022
Class 1-A15....$ 0.00000000 Class 2-B3.....$ 0.72444254
Class 1-A16....$ 0.00000000 Class 2-B4.....$ 0.72444867
Class 1-A17....$ 0.00000000 Class 2-B5.....$ 0.72444100
Class 1-PO.....$ 0.91065657
Class 1-M......$ 0.71404995
Class 1-B1.....$ 0.71404957
Class 1-B2.....$ 0.71405082
Class 1-B3.....$ 0.71404909
Class 1-B4.....$ 0.71404816
Class 1-B5.....$ 0.71404269
Class 1-R......$ 0.00000000
Class 1-RL.....$ 0.00000000
<PAGE>
2) Principal Prepayments included in the above principal distribution
(including amounts deposited pursuant to Section 3.17, Scheduled
Principal Balances of Defaulted Mortgage Loans, Designated Loans and
Defective Mortgage Loans which are being distributed on this
Distribution Date):
Class 1-A1.....$ 13.66156851 Class 2-A1....$ 0.64415933
Class 1-A2.....$ 0.00000000 Class 2-A2....$ 0.64415959
Class 1-A3.....$ 0.00000000 Class 2-A3....$ 11.61128354
Class 1-A4.....$ 0.00000000 Class 2-A4....$ 0.00000000
Class 1-A5.....$ 0.00000000 Class 2-A5....$ 0.00000000
Class 1-A6.....$ 6.97899526 Class 2-A6....$ 0.00000000
Class 1-A7.....$ 249.99845632 Class 2-A7....$ 8.75808501
Class 1-A8.....$ 9.34543985 Class 2-A8....$ 0.00000000
Class 1-A9.....$ 0.66301689 Class 2-A9....$ 0.00000000
Class 1-A10....$ 0.66301731 Class 2-A10...$ 0.00000000
Class 1-A11....$ 1.32747575 Class 2-PO....$ 0.99661608
Class 1-A12....$ 0.66301690 Class 2-M.....$ 0.00000000
Class 1-A13....$ 24.58048240 Class 2-B1....$ 0.00000000
Class 1-A14....$ 2.98080778 Class 2-B2....$ 0.00000000
Class 1-A15....$ 0.00000000 Class 2-B3....$ 0.00000000
Class 1-A16....$ 0.00000000 Class 2-B4....$ 0.00000000
Class 1-A17....$ 0.00000000 Class 2-B5....$ 0.00000000
Class 1-PO.....$ 0.84557214
Class 1-M......$ 0.00000000
Class 1-B1.....$ 0.00000000
Class 1-B2.....$ 0.00000000
Class 1-B3.....$ 0.00000000
Class 1-B4.....$ 0.00000000
Class 1-B5.....$ 0.00000000
Class 1-R......$ 0.00000000
Class 1-RL.....$ 0.00000000
3) The amount of such distribution to the Certificateholders of each
class, allocable to Interest; Pay-out Rate:
Class 1-A1.....$ 5.55588392 6.75000000%
Class 1-A2.....$ 5.62500000 6.75000000%
Class 1-A3.....$ 5.62500000 6.75000000%
Class 1-A4.....$ 5.62500035 6.75000000%
Class 1-A5.....$ 5.62500000 6.75000000%
Class 1-A6.....$ 5.79524002 7.00000000%
Class 1-A7.....$ 0.00000000 7.00000000%
Class 1-A8.....$ 5.77500084 7.00000000%
Class 1-A9.....$ 5.82920793 7.00000000%
Class 1-A10....$ 5.82920795 7.00000000%
Class 1-A11....$ 1.90962446 0.00000000%
Class 1-A12....$ 6.03739386 7.25000000%
Class 1-A13....$ 5.86751442 7.25000000%
Class 1-A14....$ 6.02652539 7.25000000%
<PAGE>
Class 1-A15....$ 6.04166679 7.25000000%
Class 1-A16....$ 6.04166647 7.25000000%
Class 1-A17....$ 6.04166642 7.25000000%
Class 1-S......$ 0.40670279 0.34703000%
Class 1-M......$ 6.03739444 7.25000000%
Class 1-B1.....$ 6.03739340 7.25000000%
Class 1-B2.....$ 6.03739524 7.25000000%
Class 1-B3.....$ 6.03739373 7.25000000%
Class 1-B4.....$ 6.03739524 7.25000000%
Class 1-B5.....$ 6.03743826 7.25000000%
Class 1-R......$ 0.00000000 7.25000000%
Class 1-RL.....$ 0.00000000 7.25000000%
Class 2-A1.....$ 5.82916092 7.00000000%
Class 2-A2.....$ 5.82916063 7.00000000%
Class 2-A3.....$ 5.74860565 7.00000000%
Class 2-A4.....$ 5.83333333 7.00000000%
Class 2-A5.....$ 5.83333367 7.00000000%
Class 2-A6.....$ 5.83333350 7.00000000%
Class 2-A7.....$ 5.76951008 7.00000000%
Class 2-A8.....$ 5.83333363 7.00000000%
Class 2-A9.....$ 5.83333356 7.00000000%
Class 2-A10....$ 5.83333311 7.00000000%
Class 2-S......$ 0.28897429 0.51485700%
Class 2-PO.....$ 0.00000000 0.00000000%
Class 2-M......$ 5.82916031 7.00000000%
Class 2-B1.....$ 5.82915966 7.00000000%
Class 2-B2.....$ 5.82917696 7.00000000%
Class 2-B3.....$ 5.82918164 7.00000000%
Class 2-B4.....$ 5.82923954 7.00000000%
Class 2-B5.....$ 5.82919622 7.00000000%
4) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:
Pool 1 Pool 2
------ ------
$ 96,280.80 $ 68,170.96
(b) The amounts below are for the aggregate of all certificates.
5) The Pool Scheduled Principal
Balances: $ 346,109,617.47 $ 491,319,257.85
Number of Mortgage Loans: 1,155 1,611
6) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to all distributions allocable to principal made
on such Distribution Date and the allocation of Realized Losses
(separately identified), if any, as of such Distribution Date:
Aggregate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 1-A1........ $ 19,698,377.31 $ 973.00
Class 1-A2........ $ 16,190,000.00 $ 1,000.00
Class 1-A3........ $ 18,554,000.00 $ 1,000.00
Class 1-A4........ $ 14,167,000.00 $ 1,000.00
Class 1-A5........ $ 13,544,000.00 $ 1,000.00
<PAGE>
Class 1-A6........ $ 75,543,760.96 $ 985.95
Class 1-A7........ $ 3,483,252.49 $ 431.87
Class 1-A8........ $ 5,855,113.85 $ 979.94
Class 1-A9........ $ 35,792,057.81 $ 998.58
Class 1-A10....... $ 7,539,269.49 $ 998.58
Class 1-A11....... $ 71,653,509.20 $ 1,007.06
Class 1-A12....... $ 20,016,510.86 $ 998.58
Class 1-A13....... $ 62,411,759.59 $ 944.70
Class 1-A14....... $ 41,993,568.00 $ 994.28
Class 1-A15....... $ 26,830,000.00 $ 1,000.00
Class 1-A16....... $ 16,580,000.00 $ 1,000.00
Class 1-A17....... $ 20,181,000.00 $ 1,000.00
Class 1-PO........ $ 16,419.80 $ 998.18
Class 1-S......... $ 488,490,227.86 $ 980.27
Class 1-M......... $ 7,756,959.66 $ 998.58
Class 1-B1........ $ 4,754,233.39 $ 998.58
Class 1-B2........ $ 3,753,158.19 $ 998.58
Class 1-B3........ $ 2,501,939.04 $ 998.58
Class 1-B4........ $ 750,631.64 $ 998.58
Class 1-B5........ $ 1,752,736.57 $ 998.58
Class 1-R......... $ 0.00 $ 0.00
Class 1-RL........ $ 0.00 $ 0.00
Class 2-A1........ $ 35,023,503.37 $ 998.56
Class 2-A2........ $ 17,511,751.68 $ 998.56
Class 2-A3........ $ 79,315,180.30 $ 972.42
Class 2-A4........ $ 21,156,000.00 $ 1,000.00
Class 2-A5........ $ 10,028,000.00 $ 1,000.00
Class 2-A6........ $ 20,000,000.00 $ 1,000.00
Class 2-A7........ $ 107,151,931.98 $ 979.21
Class 2-A8........ $ 11,240,000.00 $ 1,000.00
Class 2-A9........ $ 14,561,000.00 $ 1,000.00
Class 2-A10....... $ 15,058,000.00 $ 1,000.00
Class 2-S......... $ 335,361,214.69 $ 986.47
Class 2-PO........ $ 179,050.82 $ 997.54
Class 2-M......... $ 5,428,672.98 $ 998.56
Class 2-B1........ $ 3,327,202.86 $ 998.56
Class 2-B2........ $ 2,626,712.83 $ 998.56
Class 2-B3........ $ 1,750,975.46 $ 998.56
Class 2-B4........ $ 525,242.71 $ 998.56
Class 2-B5........ $ 1,226,392.48 $ 998.56
7) The following pertains to any real estate acquired on behalf of
Certificateholders:
Pool 1 Pool 2
------ ------
Book Value............................$ 0.00 $ 0.00
Unpaid Principal Balance..............$ 0.00 $ 0.00
The aggregate number of Mortgage Loans included in the Principal
Balance set forth above:.............. 0 0
<PAGE>
8) Aggregate number and aggregate Principal Balances of delinquent
Mortgage Loans, as of the opening of business on the related
Determination Date:
Loans Principal Balance
----- -----------------
Pool 1.................................
*(1) *30-59 days 23 $ 7,099,580.92
(2) 60-89 days 2 $ 521,441.90
(3) 90 days or more 0 $ 0.00
(4) in foreclosure 0 $ 0.00
Pool 2.................................
*(1) 30-59 days 13 $ 3,690,646.61
(2) 60-89 days 1 $ 304,600.00
(3) 90 days or more 0 $ 0.00
(4) in foreclosure 0 $ 0.00
9) The aggregate number of replaced Mortgage loans and Scheduled
Principal Balance:
Pool 1.................................. 0 $ 0.00
Pool 2.................................. 0 $ 0.00
10) The aggregate number of modified Mortgage loans and Principal Balance:
Pool 1................................. 0 $ 0.00
Pool 2................................. 0 $ 0.00
11) Certificate Interest Rate of:
Class 1-A11A Certificates: 0.000000%
Class 1-A11B Certificates: 0.000000%
Class 1-S Certificates: 0.347030%
Class 2-S Certificates: 0.514857%
Pool 1 Pool 2
------ ------
12) Senior Percentage ................ 95.70925900% 95.72104600%
13) Pool 1 Category A Group II Senior
Percentage......................... 20.14435900% N/A
14) Class 1-A12 Percentage............. 10.54744400% N/A
15) Class 2-A1 Percentage.............. N/A 10.51804800%
16) Class 2-A2 Percentage.............. N/A 5.259024%
17) Senior Prepayment Percentage....... 100.00000000% 100.00000000%
20) Junior Percentage ................. 4.29074100% 4.27895400%
21) Junior Prepayment Percentage ...... 0.00000000% 0.00000000%
* It has been the Company's experience that, with respect to the first
Distribution Date after the closing of a securitization containing a large
number of recently originated or acquired Mortgage Loans, the number of Mortgage
Loans 30-59 days delinquent may be inflated due to the borrowers sending monthly
payments to the wrong location or delays by the Company in inputting the
Mortgage Loans on its servicing system. It has also been the Company's
experience that for the majority of such Mortgage Loans the routing of
borrowers' monthly payments has corrected itself by the second Distribution
Date. However, the Company makes no assurances as to the level of delinquent
Mortgage Loans for future Distribution Dates.
Exhibit 99.27
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
December 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-11
Pursuant to the Pooling and Servicing Agreement dated as of November 1,
1997 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company") and State Street Bank and Trust Company (the "Trustee"), governing
the Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
(a) Principal .....................$ 356,780.77
(b) Interest ......................$ 3,223,796.66
(c) Total .........................$ 3,580,577.43
2. Aggregate Monthly Payments Received and Monthly Advances made this
month:
(a) Principal .....................$ 356,780.77
(b) Interest ......................$ 3,117,293.81
(c) Total .........................$ 3,474,074.58
3. Aggregate Principal Prepayments in part received and applied in the
applicable prepayment period:........$ 104,093.11
4. Aggregate Principal Prepayments in full in prior month:
(a) Principal .....................$ 3,059,156.65
(b) Interest ......................$ 18,437.96
(c) Total .........................$ 3,077,594.61
<PAGE>
5. Aggregate Insurance Proceeds for prior month:
(a) Principal .....................$ 0.00
(b) Interest ......................$ 0.00
(c) Total .........................$ 0.00
6. Aggregate Liquidation Proceeds for the prior month:
(a) Principal .....................$ 0.00
(b) Interest ......................$ 0.00
(c) Total .........................$ 0.00
7. Aggregate Purchase Prices for Defaulted and Modified Mortgage Loans:
(a) Principal .....................$ 0.00
(b) Interest ......................$ 0.00
(c) Total .........................$ 0.00
8. Aggregate Purchase Prices (and subsitution adjustments) for Defective
Mortgage Loans:
(a) Principal .....................$ 573,515.94
(b) Interest ......................$ 2,980.29
(c) Total .........................$ 576,496.23
9. Pool Scheduled Principal Balance:....$ 496,723,426.23
10. Available Funds: ...................$ 7,232,258.53
11. Realized Losses for Prior Month: ...$ 0.00
12. Aggregrate Realized Losses and Debt Service Reductions:
(a) Deficient Valuations ...........$ 0.00
(b) Special Hazard Losses ..........$ 0.00
(c) Fraud Losses ...................$ 0.00
(d) Excess Bankruptcy Loss .........$ 0.00
(e) Excess Special Hazard Losses ...$ 0.00
(f) Excess Fraud Losses ............$ 0.00
(g) Debt Service Reductions..........$ 0.00
<PAGE>
13. Compensating Interest Payment: .....$ 2,137.24
14. Accrued Certificate Interest, unpaid Class Interest Shortfalls and
Pay-out Rate:
Class 1-A1........$ 1,669,972.50 $ 0.00 7.00000000%
Class 1-A2........$ 175,245.00 $ 0.00 7.00000000%
Class 1-A3........$ 274,919.17 $ 0.00 7.00000008%
Class 1-A4........$ 92,376.67 $ 0.00 7.00000025%
Class 1-A5........$ 584,167.50 $ 0.00 7.00000000%
Class 1-PO........$ 0.00 $ 0.00 0.00000000%
Class 1-M.........$ 45,284.17 $ 0.00 7.00000052%
Class 1-B1........$ 27,755.00 $ 0.00 7.00000000%
Class 1-B2........$ 21,910.00 $ 0.00 7.00000000%
Class 1-B3........$ 14,606.67 $ 0.00 7.00000160%
Class 1-B4........$ 4,380.83 $ 0.00 6.99999467%
Class 1-B5........$ 10,229.77 $ 0.00 7.00013862%
Class 1-R........ $ 0.58 $ 0.00 6.96000000%
Class 1-S.........$ 217,864.01 $ 0.00 0.52840000%
15. Principal Distribution Amount:
Class 1-A1........$ 4,078,194.44
Class 1-A2........$ 0.00
Class 1-A3........$ 0.00
Class 1-A4........$ 0.00
Class 1-A5........$ 0.00
Class 1-PO........$ 88.65
Class 1-M.........$ 5,530.18
Class 1-B1........$ 3,389.49
Class 1-B2........$ 2,675.68
Class 1-B3........$ 1,783.79
Class 1-B4........$ 534.99
Class 1-B5........$ 1,249.25
Class 1-R.........$ 100.00
16. Additional Distributions to the Class R Certificate pursuant to
Section 4.01 (c):........................$ 0.00
17. Certificate Interest Rate of:
Class 1-S................................ 0.52840000%
<PAGE>
18. Distributions Allocable to Unanticipated Recoveries:
Class 1-A1.... $ 0.00
Class 1-A2.... $ 0.00
Class 1-A3.... $ 0.00
Class 1-A4.... $ 0.00
Class A5-1.... $ 0.00
Class 1-PO.... $ 0.00
Class 1-M..... $ 0.00
Class 1-B1.... $ 0.00
Class 1-B2.... $ 0.00
Class 1-B3.... $ 0.00
Class 1-B4.... $ 0.00
Class 1-B5.... $ 0.00
Class 1-R..... $ 0.00
B. Other Amounts for such Distribution Date:
1. Senior Percentage: .................. 95.74896600%
2. Senior Prepayment Percentage: ....... 100.00000000%
3. Junior Percentage: .................. 4.25103400%
4. Junior Prepayment Percentage: ....... 0.00000000%
5. Class A5 Percentage:.................. 0.00000000%
6. Class A5 Prepayment Percentage:....... 0.00000000%
7. Class A5 Schedule Percentage:......... 0.00000000%
8. Subordinate Certificate Writedown: .. 0.00000000%
9. Prepayment Triggers satisfied:
YES NO
--- --
Class 1-B1...................X
Class 1-B2...................X
Class 1-B3...................X
Class 1-B4...................X
Class 1-B5...................X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Karen Pickett
-----------------------------------
Name: Karen Pickett
Title: Vice-President,
Investor Operations
Exhibit 99.28
GE CAPITAL MORTGAGE SERVICES, INC.
December 1997
DISTRIBUTION DATE STATEMENT
REMIC Multi-Class Pass-Through Certificates
Series 1997-11
Pursuant to the Pooling and Servicing Agreement dated as of November 1,
1997 (the "Agreement") between GE Capital Mortgage Services, Inc. (the
"Company") and State Street Bank and Trust Company (the "Trustee"), governing
the Certificates referred to above, the Company hereby certifies to the Trustee:
(a) The amounts below are for a Single Certificate of $1,000.
1) The amount of such distribution allocable to principal:
Class 1-A1.......$ 14.24542474
Class 1-A2.......$ 0.00000000
Class 1-A3.......$ 0.00000000
Class 1-A4.......$ 0.00000000
Class 1-A5.......$ 0.00000000
Class 1-PO.......$ 0.88444305
Class 1-M........$ 0.71237666
Class 1-B1.......$ 0.71237705
Class 1-B2.......$ 0.71237487
Class 1-B3.......$ 0.71237620
Class 1-B4.......$ 0.71237017
Class 1-B5.......$ 0.71237535
Class 1-R........$ 1000.00000000
2) Principal Prepayments included in the above principal distribution
(including amounts deposited pursuant to Section 3.17, Scheduled
Principal Balances of Defaulted Mortgage Loans, Designated Loans and
Defective Mortgage Loans which are being distributed on this
Distribution Date):
Class 1-A1.......$ 13.05218597 Class 1-M......$ 0.00000000
Class 1-A2.......$ 0.00000000 Class 1-B1.....$ 0.00000000
Class 1-A3.......$ 0.00000000 Class 1-B2.....$ 0.00000000
Class 1-A4.......$ 0.00000000 Class 1-B3.....$ 0.00000000
Class 1-A5.......$ 0.00000000 Class 1-B4.....$ 0.00000000
Class 1-PO.......$ 0.81035949 Class 1-B5.....$ 0.00000000
Class 1-R......$ 0.00000000
3) The amount of such distribution to the Certificateholders of each
class, allocable to Interest
<PAGE>
Class 1-A1.......$ 5.83333333
Class 1-A2.......$ 5.83333333
Class 1-A3.......$ 5.83333340
Class 1-A4.......$ 5.83333354
Class 1-A5.......$ 5.83333333
Class 1-PO.......$ 0.00000000
Class 1-M........$ 5.83333376
Class 1-B1.......$ 5.83333333
Class 1-B2.......$ 5.83333333
Class 1-B3.......$ 5.83333466
Class 1-B4.......$ 5.83332889
Class 1-B5.......$ 5.83344885
Class 1-R........$ 5.80000000
Class 1-S........$ 0.52840000%
4) Amount of distribution allocable to Unanticipated Recoveries:
Class 1-A1.......$ 0.00
Class 1-A2.......$ 0.00
Class 1-A3.......$ 0.00
Class 1-A4.......$ 0.00
Class 1-A5.......$ 0.00
Class 1-PO.......$ 0.00
Class 1-M........$ 0.00
Class 1-B1.......$ 0.00
Class 1-B2.......$ 0.00
Class 1-B3.......$ 0.00
Class 1-B4.......$ 0.00
Class 1-B5.......$ 0.00
Class 1-R........$ 0.00
5) The amount of servicing compensation received by the Company during
the month preceding the month of distribution: $ 27,462.54
(b) The amounts below are for the aggregate of all certificates.
6) The Pool Scheduled Principal Balances: $ 496,723,426.23
Number of Mortgage Loans: 1,652
7) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to all distributions allocable to principal made
on such Distribution Date and the allocation of Realized Losses
(separately identified), if any, as of such Distribution Date:
<PAGE>
Aggregate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 1-A1....... $ 282,202,805.56 $ 985.75
Class 1-A2....... $ 30,042,000.00 $ 1,000.00
Class 1-A3....... $ 47,129,000.00 $ 1,000.00
Class 1-A4....... $ 15,836,000.00 $ 1,000.00
Class 1-A5....... $ 100,143,000.00 $ 1,000.00
Class 1-PO....... $ 100,143.92 $ 999.12
Class 1-M........ $ 7,757,469.82 $ 999.29
Class 1-B1....... $ 4,754,610.51 $ 999.29
Class 1-B2....... $ 3,753,324.32 $ 999.29
Class 1-B3....... $ 2,502,216.21 $ 999.29
Class 1-B4....... $ 750,465.01 $ 999.29
Class 1-B5....... $ 1,752,390.88 $ 999.29
Class 1-R........ $ 0.00 $ 0.00
Class 1-S........ $ 490,682,433.41 $ 991.74
8) The following pertains to any real estate acquired on behalf of
Certificateholders:
Book Value.......................................$ 0.00
Unpaid Principal Balance.........................$ 0.00
9) The aggregate number of Mortgage Loans included in the Principal
Balance set forth above:......................... 0
10) Aggregate number and aggregate Principal Balances of delinquent
Mortgage Loans, as of the opening of business on the related
Determination Date:
Loans Principal Balance
----- -----------------
*(1) *30-59 days 21 $ 7,082,051.13
(2) 60-89 days 0 $ 0.00
(3) 90 days or more 0 $ 0.00
(4) in foreclosure 0 $ 0.00
11) The aggregate number of replaced Mortgage loans and Scheduled
Principal Balance: $ 0.00
0
12) Aggregate Scheduled Principal Balance and number of modified loans:
$ 0.00
0
13) Certificate Interest Rate of:
Class 1-S Certificates: 0.000000%
<PAGE>
14) Senior Percentage: ............................. 95.74896600%
15) Senior Prepayment Percentage: .................. 100.00000000%
16) Class A5 Percentage:............................. 0.00000000%
17) Class A5 Scheduled Distribution Percentage for
Distribution Date:............................... 0.00000000%
18) Class A5 Prepayment Distribution Percentage for
Distribution Date:............................... 0.00000000%
19) Junior Percentage: ............................. 4.25103400%
20) Junior Prepayment Percentage: .................. 0.00000000%
* It has been the Company's experience that, with respect to the first
Distribution Date after the closing of a securitization containing a large
number of recently originated or acquired Mortgage Loans, the number of Mortgage
Loans 30-59 days delinquent may be inflated due to the borrowers sending monthly
payments to the wrong location or delays by the Company in inputting the
Mortgage Loans on its servicing system. It has also been the Company's
experience that for the majority of such Mortgage Loans the routing of
borrowers' monthly payments has corrected itself by the second Distribution
Date. However, the Company makes no assurances as to the level of delinquent
Mortgage Loans for future Distribution Dates.
