SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
September 24, 1998
GE CAPITAL MORTGAGE SERVICES, INC.
(as Seller and Servicer under the Pooling and
Servicing Agreement, dated as of September 1, 1998,
providing for the issuance of REMIC Multi-Class
Pass-Through Certificates, Series 1998-14)
GE Capital Mortgage Services, Inc.
(Exact name of registrant as specified in its charter)
New Jersey 33-5042 21-0627285
----------------------------------------------------------
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
Three Executive Campus
Cherry Hill, New Jersey 08002
(Address of Principal Executive Office) (Zip Code)
Registrant's telephone number, including
area code (609) 661-6100
<PAGE>
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
General.
On September 24, 1998, GE Capital Mortgage Services, Inc.
("GECMSI") offered to investors certain classes of its REMIC
Multi-Class Pass-Through Certificates, Series 1998-14 (the
"Certificates") evidencing beneficial ownership interests in a
trust fund (the "Trust Fund"). The assets of the Trust Fund
consist primarily of a pool ("Pool 1998-14") of conventional,
one- to four-family residential loans (the "Mortgage Loans").
Capitalized terms used herein and not otherwise defined shall
have the meanings assigned to them in the Prospectus dated May
26, 1998 as supplemented by the Prospectus Supplement dated
September 23, 1998.
The original principal balance of each Class of the Certificates
is as follows:
Class A1 $65,519,000.00
Class A2 $78,008,000.00
Class A3 $2,572,000.00
Class A4 $37,703,000.00
Class A5 $34,035,930.00
Class A6 $6,302,950.00
Class A7 $75,000,000.00
Class A8 $1,719,000.00
Class A9 $7,735,000.00
Class A10 $70,809,000.00
Class A11 $24,605,000.00
Class A12 $100,000,000.00
Class M $9,729,365.00
Class B1 $4,207,293.00
Class B2 $2,366,602.00
Class B3 $2,103,646.00
Class B4 $1,051,823.00
Class B5 $1,578,247.19
Class PO $865,655.64
Class R $60.00
Class RL $60.00
---------------
Total : $525,911,631.83
The initial Junior Percentage and initial Senior Percentage for
Pool 1998-14 are approximately 4.00% and 96.00%, respectively.
The "Bankruptcy Loss Amount," the "Fraud Loss Amount" and the
"Special Hazard Loss Amount" for Pool 1998-14 as of the initial
issuance of the Certificates are $193,071.00, $5,259,116.00 and
$5,259,116.00, respectively, representing approximately .0400%,
1.0000%, and 1.0000%, respectively, of the aggregate Scheduled
Principal Balances of the Mortgage Loans as of September 1, 1998
(the "Cut-off Date").
2
<PAGE>
Description of the Mortgage Pool and the Mortgaged Properties
Pool 1998-14
Pool 1998-14 consists primarily of fixed-rate, fully-amortizing
conventional Mortgage Loans evidenced by Mortgage Notes which
have original maturities of 20 to 30 years and an aggregate
outstanding Scheduled Principal Balance as of the Cut-off Date,
after deducting payments of principal due on or before such date
and prepayments of principal received before such date, of
$525,911,631.83.
The interest rates (the "Mortgage Rates") borne by the 1634
Mortgage Loans conveyed by GECMSI to Pool 1998-14 range from
6.3750% to 8.5000% and the weighted average Mortgage Rate as of
the Cut-off Date is 7.3408% per annum (all weighted averages in
this filing are weighted by aggregate outstanding Scheduled
Principal Balance as of the Cut-off Date). At origination, the
principal balances of the Mortgage Loans in Pool 1998-14 ranged
from $228,000.00 to $1,000,000.00, and, as of the Cut-off Date,
the average outstanding Scheduled Principal Balance of the
Mortgage Loans in Pool 1998-14 is $321,855.34, after application
of principal payments due on or before the Cut-off Date and
prepayments of principal received before such date. The earliest
origination date of any Mortgage Loan in Pool 1998-14 is July
1996, and the latest scheduled maturity date of any such Mortgage
Loan is September 2028. The weighted average loan-to-value ratio
of the Mortgage Loans as of the Cut-off Date in Pool 1998-14 is
75.4927%.
The Mortgage Loans in Pool 1998-14 have the following
characteristics as of the Cut-off Date.
a) The following table sets forth information, as of the Cut-off
Date, with respect to the Mortgage Rates borne by the Mortgage
Loans in Pool 1998-14:
AGGREGATE % OF
BALANCES POOL BY
MORTGAGE # OF AS OF AGGREGATE
RATES LOANS CUT-OFF DATE BALANCE
- -------- ----- ------------ ---------
6.3750% 2 $593,446.72 0.1128%
6.5000% 3 $1,121,777.55 0.2133%
6.6250% 10 $3,385,724.21 0.6438%
6.7500% 26 $8,347,929.30 1.5873%
6.8750% 74 $24,313,851.40 4.6232%
7.0000% 102 $33,851,379.81 6.4367%
7.1250% 191 $60,194,895.14 11.4458%
7.2000% 1 $251,601.61 0.0478%
7.2500% 327 $105,622,369.22 20.0837%
7.3750% 290 $90,444,873.21 17.1977%
7.5000% 320 $105,322,204.60 20.0266%
7.6250% 163 $52,541,458.06 9.9906%
7.7500% 71 $22,656,740.79 4.3081%
7.8750% 38 $11,985,703.47 2.2790%
8.0000% 11 $3,851,611.54 0.7324%
8.1250% 2 $516,910.56 0.0983%
8.2500% 1 $246,474.31 0.0469%
8.3750% 1 $393,508.03 0.0748%
8.5000% 1 $269,172.30 0.0512%
----- --------------- ---------
Total 1,634 $525,911,631.83 100.0000%
3
<PAGE>
b) The following table sets forth information, as of the Cut-off
Date, with respect to the original principal balances of the
Mortgage Loans in Pool 1998-14:
AGGREGATE % OF
BALANCES POOL BY
ORIGINAL # OF AS OF AGGREGATE
BALANCES LOANS CUT-OFF DATE BALANCE
-------- ----- ------------ ---------
$227,151 - 250,000 259 $62,364,645.28 11.8584%
$250,001 - 300,000 620 $170,005,312.28 32.3258%
$300,001 - 350,000 342 $110,684,027.90 21.0461%
$350,001 - 400,000 188 $70,602,012.93 13.4247%
$400,001 - 450,000 70 $29,759,332.86 5.6586%
$450,001 - 600,000 126 $63,673,266.71 12.1072%
$600,001 - 650,000 27 $17,137,194.25 3.2586%
$650,001 - 1,000,000 + 2 $1,685,839.62 0.3206%
----- --------------- ---------
Total 1,634 $525,911,631.83 100.0000%
The largest outstanding Scheduled Principal Balance of any
Mortgage Loan, as of the Cut-off Date, in Pool 1998-14 is
$999,239.07.
The smallest outstanding Scheduled Principal Balance of any
Mortgage Loan, as of the Cut-off Date, in Pool 1998-14 is
$150,755.34.
c) The following table sets forth information, as of the Cut-off
Date, with respect to the years of origination of the Mortgage
Loans in Pool 1998-14:
AGGREGATE % OF
BALANCES POOL BY
YEAR OF # OF AS OF AGGREGATE
ORIGINATION LOANS CUT-OFF DATE BALANCE
- ----------- ----- ------------ ---------
1996 1 $272,000.00 0.0517%
1997 4 $1,082,961.80 0.2059%
1998 1,629 $524,556,670.03 99.7424%
----- --------------- ---------
Total 1,634 $525,911,631.83 100.0000%
4
<PAGE>
d) The following table sets forth information, as of the Cut-off
Date, with respect to the loan-to-value ratios of the Mortgage
Loans at origination in Pool 1998-14:
LOAN- AGGREGATE % OF
TO-VALUE BALANCES POOL BY
RATIO AT # OF AS OF AGGREGATE
ORIGINATION LOANS CUT-OFF DATE BALANCE
----------- ----- ------------ ---------
00.000 - 50.00 55 $20,227,817.60 3.8462%
50.001 - 60.00 95 $33,426,673.19 6.3559%
60.001 - 70.00 205 $71,188,726.52 13.5363%
70.001 - 75.00 234 $79,282,334.72 15.0752%
75.001 - 80.00 741 $235,743,805.79 44.8258%
80.001 - 85.00 38 $11,429,944.05 2.1734%
85.001 - 90.00 163 $47,441,997.32 9.0209%
90.001 - 95.00 103 $27,170,332.64 5.1663%
----- --------------- ---------
Total 1,634 $525,911,631.83 100.0000%
e) The following table sets forth information, as of the Cut-off
Date, with respect to the type of Mortgaged Properties
securing the Mortgage Loans in Pool 1998-14:
AGGREGATE % OF
BALANCES POOL BY
TYPE OF # OF AS OF AGGREGATE
DWELLING LOANS CUT-OFF DATE BALANCE
- -------- ----- ------------ ---------
Single-family
detatched 1,483 $477,792,572.84 90.8503%
Single-family
attched 82 $25,354,698.48 4.8211%
Condominium 57 $17,930,899.44 3.4095%
2 - 4 Family Units 7 $2,879,711.07 0.5476%
Co-op 5 $1,953,750.00 0.3715%
----- --------------- ---------
Total 1,634 $525,911,631.83 100.0000%
f) The following table sets forth information, as of the Cut-off
Date, with respect to the occupancy status of the Mortgaged
Properties securing the Mortgage Loans as represented by the
mortgagors at origination in Pool 1998-14:
AGGREGATE % OF
BALANCES POOL BY
# OF AS OF AGGREGATE
OCCUPANCY LOANS CUT-OFF DATE BALANCE
- --------- ----- ------------ ---------
Owner Occupied 1,600 $515,157,408.60 97.9552%
Vacation 29 $9,283,000.96 1.7651%
Investment 5 $1,471,222.27 0.2797%
----- --------------- ---------
Total 1,634 $525,911,631.83 100.0000%
5
<PAGE>
g) The following table sets forth information, as of the Cut-off
Date, with respect to the geographic distribution of the
Mortgaged Properties securing the Mortgage Loans in Pool
1998-14:
AGGREGATE % OF
BALANCES POOL BY
# OF AS OF AGGREGATE
STATE LOANS CUT-OFF DATE BALANCE
- ----- ----- ------------ ---------
Alabama 2 $539,487.33 0.1026%
Alaska 1 $518,463.53 0.0986%
Arizona 21 $5,943,663.59 1.1302%
California 799 $262,706,573.42 49.9525%
Colorado 23 $7,574,194.51 1.4402%
Connecticut 32 $9,841,711.84 1.8714%
Delaware 1 $364,456.53 0.0693%
District Of Columbia 3 $842,921.34 0.1603%
Florida 39 $12,614,302.14 2.3986%
Georgia 44 $13,425,120.06 2.5527%
Hawaii 2 $880,059.94 0.1673%
Idaho 1 $282,965.02 0.0538%
Illinois 58 $18,863,727.34 3.5869%
Indiana 6 $2,030,331.49 0.3861%
Iowa 1 $260,961.18 0.0496%
Louisiana 1 $299,760.09 0.0570%
Maryland 63 $19,874,018.49 3.7790%
Massachusetts 99 $31,668,327.01 6.0216%
Michigan 23 $7,715,128.95 1.4670%
Minnesota 8 $2,367,026.38 0.4501%
Missouri 9 $2,668,722.07 0.5074%
Montana 2 $601,186.13 0.1143%
Nebraska 1 $257,798.74 0.0490%
Nevada 4 $1,109,825.95 0.2110%
New Hampshire 3 $887,833.25 0.1688%
New Jersey 115 $35,412,489.22 6.7335%
New Mexico 3 $1,084,880.77 0.2063%
New York 47 $16,514,349.97 3.1401%
North Carolina 10 $3,194,974.65 0.6075%
Ohio 9 $2,534,446.09 0.4819%
Oklahoma 1 $322,553.96 0.0613%
Oregon 14 $4,034,738.07 0.7672%
Pennsylvania 37 $11,230,936.60 2.1355%
Rhode Island 6 $1,711,627.63 0.3255%
South Carolina 3 $1,018,685.27 0.1937%
Tennessee 7 $1,777,699.86 0.3380%
Texas 40 $12,419,204.56 2.3615%
Utah 2 $877,271.61 0.1668%
Virginia 64 $20,271,772.19 3.8546%
Washington 25 $7,573,576.45 1.4401%
West Virginia 2 $472,203.24 0.0898%
6
<PAGE>
Wisconsin 2 $682,905.37 0.1299%
Wyoming 1 $638,750.00 0.1215%
----- --------------- ---------
Total 1,634 $525,911,631.83 100.0000%
h) The following table sets forth information, as of the Cut-off
Date, with respect to the maturity dates of the Mortgage Loans
in Pool 1998-14:
AGGREGATE % OF
BALANCES POOL BY
YEAR OF # OF AS OF AGGREGATE
MATURITY LOANS CUT-OFF DATE BALANCE
-------- ----- ------------ ---------
2018 20 $6,236,521.74 1.1858%
2023 11 $4,062,215.70 0.7724%
2027 1 $225,131.61 0.0428%
2028 1,602 $515,387,762.78 97.9990%
----- --------------- ---------
Total 1,634 $525,911,631.83 100.0000%
The weighted average scheduled remaining term to maturity of the
Mortgage Loans in Pool 1998-14 calculated as of the Cut-off Date
is 357 months.
i) The following table sets forth information, as of the Cut-off
Date, with respect to the purpose of the Mortgage Loans in
Pool 1998-14:
AGGREGATE % OF
BALANCES POOL BY
PURPOSE # OF AS OF AGGREGATE
OF LOAN LOANS CUT-OFF DATE BALANCE
- ------- ----- ------------ ---------
Purchase 786 $246,335,226.81 46.8397%
Rate Term/Refinance 644 $209,984,622.13 39.9277%
Cash-out Refinance 204 $69,591,782.89 13.2326%
----- --------------- ---------
Total 1,634 $525,911,631.83 100.0000%
7
<PAGE>
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL STATEMENTS
AND EXHIBITS.
1.1 The Underwriting Agreement, dated September 19, 1997,
and the related Terms Agreement, dated September 23,
1998, for certain of the Series 1998-14 Certificates
between GE Capital Mortgage Services, Inc. and Greenwich
Capital Markets, Inc.
1.2 The Underwriting Agreement, dated March 21, 1996, and
the related Terms Agreement, dated September 23, 1998,
for certain of the Series 1998-14 Certificates between
GE Capital Mortgage Services, Inc. and Donaldson, Lufkin
& Jenrette.
4.1 The Pooling and Servicing Agreement for the Series
1998-14 Certificates, dated as of September 1, 1998,
between GE Capital Mortgage Services, Inc., as seller
and servicer, and State Street Bank and Trust Company,
as trustee.
8
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the
undersigned thereunto duly authorized.
GE Capital Mortgage Services, Inc.
By: /s/ Syed W. Ali
-----------------------------
Name: Syed W. Ali
Title: Vice President
Dated as of September 24, 1998
9
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the
undersigned thereunto duly authorized.
GE Capital Mortgage Services, Inc.
By:
-----------------------------
Name: Syed W. Ali
Title: Vice President
Dated as of September 24, 1998
10
<PAGE>
EXHIBIT INDEX
The exhibits are being filed herewith:
- -----------------------------------------------------------------
EXHIBIT NO. DESCRIPTION PAGE
- -----------------------------------------------------------------
1.1 The Underwriting Agreement, dated
September 19, 1997, and the related
Terms Agreement, dated September 23,
1998, for certain of the Series 1998-14
Certificates between GE Capital
Mortgage Services, Inc. and Greenwich
Capital Markets, Inc..
1.2 The Underwriting Agreement, dated
March 21, 1996, and the related Terms
Agreement, dated September 23, 1998,
for certain of the Series 1998-14
Certificates between GE Capital
Mortgage Services, Inc. and Donaldson,
Lufkin & Jenrette.
4.1 The Pooling and Servicing Agreement
for the Series 1998-14 Certificates, dated
as of September 1, 1998, between GE
Capital Mortgage Services, Inc., as seller
and servicer, and State Street Bank and
Trust Company, as trustee.
- -----------------------------------------------------------------
11
EXECUTION
GE CAPITAL MORTGAGE SERVICES, INC.
PASS-THROUGH CERTIFICATES
(Issuable in Series)
UNDERWRITING AGREEMENT
----------------------
Greenwich Capital Markets, Inc. New York, New York
600 Steamboat Road September 19, 1997
Greenwich, Connecticut 06830
Ladies and Gentlemen:
GE Capital Mortgage Services, Inc., a corporation
organized and existing under the laws of the State of New Jersey
(the "Company"), may offer for sale to you (the "Underwriter")
from time to time its Pass-Through Certificates evidencing
interests in pools of mortgage loans (the "Certificates"). The
Certificates may be issued in various series, and within each
series, in one or more classes, in one or more offerings on terms
determined at the time of sale (each such series, a "Series" and
each such class, a "Class"). Each Series of the Certificates will
be issued under a separate Pooling and Servicing Agreement (each,
a "Pooling and Servicing Agreement") to be dated as of the
respective cut-off date (each, a "Cut-off Date") between the
Company, as seller and servicer, and State Street Bank and Trust
Company, as trustee (the "Trustee"). Capitalized terms used but
not defined herein shall have the meanings given to them in the
related Pooling and Servicing Agreement.
The Certificates issued under each Pooling and
Servicing Agreement will represent the entire beneficial
ownership interest in a trust fund (the "Trust Fund") established
by such Pooling and Servicing Agreement. The assets of each Trust
Fund will consist primarily of one or more pools of conventional,
fixed rate, first lien, fully amortizing, one- to four-family
residential mortgage loans (the "Mortgage Loans") having the
original terms to maturity specified in the related Terms
Agreement referred to hereinbelow. If so specified in the related
Terms Agreement, one or more elections may be made to treat the
assets of each Trust Fund as a real estate mortgage investment
conduit (each, a "REMIC") for federal income tax purposes.
<PAGE>
Whenever the Company determines to make an offering of
Certificates (each, a "Certificate Offering") pursuant to this
Agreement through you, it will enter into an agreement with you
(the "Terms Agreement") providing for the sale of specified
Classes of Offered Certificates (as defined below) to, and the
purchase and public offering thereof by, you. Each such
Certificate Offering which the Company elects to make pursuant to
this Agreement shall be governed by this Agreement, as
supplemented by the related Terms Agreement. Each Terms
Agreement, which shall be substantially in the form of Exhibit A
hereto, shall specify, among other things, the Classes of
Certificates to be purchased by the Underwriter (the "Offered
Certificates"), the principal balance or balances of the Offered
Certificates, each subject to any stated variance, and the price
or prices at which such Offered Certificates are to be purchased
by the Underwriter from the Company.
1. Representations and Warranties. (a) The Company
represents and warrants to and agrees with the Underwriter, as of
the date of the related Terms Agreement, that:
(i) The registration statement specified
in the related Terms Agreement, on Form S-3, including
a prospectus, has been filed with the Securities and
Exchange Commission (the "Commission") for the
registration under the Securities Act of 1933, as
amended (the "Act"), of pass-through certificates
issuable in series, which registration statement has
been declared effective by the Commission. Such
registration statement, as amended to the date of the
related Terms Agreement, including any documents
incorporated by reference therein pursuant to Item 12
of Form S-3 under the Act which were filed under the
Securities Exchange Act of 1934, as amended (the
"Exchange Act"), on or before the effective date of
the Registration Statement, is hereinafter called the
"Registration Statement", and such prospectus, as such
prospectus is supplemented by a prospectus supplement
relating to the Offered Certificates of the related
Series, each in the form first filed after the date of
the related Terms Agreement pursuant to Rule 424(b)
under the Act, including any documents incorporated by
reference therein pursuant to Item 12 of Form S-3
under the Act which were filed under the Exchange Act
on or before the date of such prospectus supplement
(other than any such incorporated documents that
relate to Collateral Term Sheets (as defined
herein))(such prospectus supplement, including such
incorporated documents (other than those that relate
to Collateral Term Sheets), in the form first filed
after the date of the related Terms Agreement pursuant
to Rule 424(b) is hereinafter called the "Prospectus
Supplement"), is
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<PAGE>
hereinafter called the "Prospectus". Any reference
herein to the terms "amend", "amendment" or
"supplement" with respect to the Registration
Statement, the Prospectus or the Prospectus Supplement
shall be deemed to refer to and include the filing of
any document under the Exchange Act after the
effective date of the Registration Statement or the
issue date of the Prospectus or Prospectus Supplement,
as the case may be, deemed to be incorporated therein
by reference pursuant to Item 12 of Form S-3 under the
Act.
(ii) The related Registration Statement,
at the time it became effective, and the Prospectus
contained therein, and any amendments thereof and
supplements thereto filed prior to the date of the
related Terms Agreement, conformed in all material
respects to the requirements of the Act and the rules
and regulations of the Commission thereunder; on the
date of the related Terms Agreement and on each
Closing Date (as defined in Section 3 below), the
related Registration Statement and the related
Prospectus, and any amendments thereof and supplements
thereto, will conform in all material respects to the
requirements of the Act and the rules and regulations
of the Commission thereunder; such Registration
Statement, at the time it became effective, did not
contain any untrue statement of a material fact or
omit to state a material fact required to be stated
therein or necessary to make the statements therein
not misleading; such Prospectus, on the date of any
filing pursuant to Rule 424(b) and on each Closing
Date, will not include any untrue statement of a
material fact or omit to state a material fact
necessary to make the statements therein, in the light
of the circumstances under which they are made, not
misleading; and the Detailed Description referred to
in such Prospectus, on each Closing Date and the date
of any filing thereof under cover of Form 8-K, will
not include any untrue statement of a material fact or
omit to state any information which such Prospectus
states will be included in such Detailed Description;
provided, however, that the Company makes no
representations or warranties as to the information
contained in or omitted from (A) such Registration
Statement or such Prospectus (or any supplement
thereto) in reliance upon and in conformity with
written information furnished to the Company by or on
behalf of the Underwriter specifically for use in the
preparation thereof or (B) any Current Report (as
defined in Section 5(b) below), or in any amendment
thereof or supplement thereto, incorporated by
reference in such Registration Statement or such
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<PAGE>
Prospectus (or any amendment thereof or supplement
thereto).
(iii) The Certificates of the related
Series will conform to the description thereof
contained in the related Prospectus; will each, if
rated at the time of issuance in one of the two
highest rating categories by a nationally recognized
statistical rating organization, be when issued a
"mortgage related security" as such term is defined in
Section 3(a)(41) of the Exchange Act, and will each on
the related Closing Date be duly and validly
authorized, and, when validly executed, countersigned,
issued and delivered in accordance with the related
Pooling and Servicing Agreement and sold to you as
provided herein and in the related Terms Agreement,
will each be validly issued and outstanding and
entitled to the benefits of the related Pooling and
Servicing Agreement.
(iv) Neither the issuance nor sale of the
Certificates of the related Series nor the
consummation of any other of the transactions herein
contemplated, nor the fulfillment of the terms hereof
or of the related Terms Agreement, will conflict with
any statute, order or regulation applicable to the
Company of any court, regulatory body, administrative
agency or governmental body having jurisdiction over
the Company or with any organizational document of the
Company or any instrument or any agreement under which
the Company is bound or to which it is a party.
(v) This Agreement and the related Terms
Agreement have been duly authorized, executed and
delivered by the Company.
(vi) At or prior to the related Closing
Date, the Company will have entered into the related
Pooling and Servicing Agreement and, assuming the due
authorization, execution and delivery thereof by the
Trustee, such Pooling and Servicing Agreement (on such
Closing Date) will constitute the valid and binding
agreement of the Company enforceable in accordance
with its terms, subject as to enforceability, to
bankruptcy, insolvency, reorganization or other
similar laws affecting creditors' rights and to
general principles of equity (regardless of whether
the enforceability of such Pooling and Servicing
Agreement is considered in a proceeding in equity or
at law).
2. Purchase and Sale. Subject to the execution of
the Terms Agreement for a particular Certificate Offering and
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<PAGE>
subject to the terms and conditions and in reliance upon the
representations and warranties set forth in this Agreement and
such Terms Agreement, the Company agrees to sell to the
Underwriter, and the Underwriter agrees to purchase from the
Company, all, but not less than all, of the related Offered
Certificates at the purchase price therefor set forth in such
Terms Agreement (the "Purchase Price").
The parties hereto agree that settlement for all
securities sold pursuant to this Agreement and the applicable
Terms Agreement shall take place on the settlement date agreed
upon at the time of the related transaction and set forth as the
"Closing Date" in such Terms Agreement and not as set forth in
Rule 15c6-1(a) of the Exchange Act.
3. Delivery and Payment. Delivery of and payment for
the Offered Certificates of a Series shall be made at the offices
of Cleary, Gottlieb, Steen & Hamilton, New York, New York, at
10:00 A.M., New York City time, on the Closing Date specified in
the related Terms Agreement, which date and time may be postponed
by agreement between the Underwriter and the Company (such date
and time being herein called the "Closing Date"). Delivery of
such Offered Certificates shall be made to the Underwriter
against payment by the Underwriter of the Purchase Price thereof
to or upon the order of the Company by wire transfer in federal
or other immediately available funds or by check payable in
federal funds, as the Company shall specify no later than five
full business days prior to such Closing Date. Unless delivery is
made through the facilities of The Depository Trust Company, the
Offered Certificates shall be registered in such names and in
such authorized denominations as the Underwriter may request not
less than two full business days in advance of each Closing Date.
The Company agrees to notify the Underwriter at least
two business days before each Closing Date of the exact principal
balance evidenced by the Offered Certificates and to have such
Offered Certificates available for inspection, checking and
packaging in New York, New York, no later than 12:00 noon on the
business day prior to such Closing Date.
4. Offering by the Underwriter. It is understood that
the Underwriter proposes to offer the Offered Certificates of the
related Series for sale to the public as set forth in the related
Prospectus.
5. Agreements. The Company agrees with the
Underwriter that:
(a) The Company will cause the Prospectus as
supplemented by a Prospectus Supplement relating to the
Offered Certificates to be filed pursuant to Rule 424 under
the Act and will promptly advise the Underwriter when such
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<PAGE>
Prospectus as so supplemented has been so filed, and prior
to the termination of the Certificate Offering to which
such Prospectus relates also will promptly advise the
Underwriter (i) when any amendment to the related
Registration Statement specifically relating to such
Offered Certificates shall have become effective or any
further supplement to such Prospectus has been filed, (ii)
of any request by the Commission for any amendment of such
Registration Statement or Prospectus or for any additional
information, (iii) of the issuance by the Commission of any
stop order suspending the effectiveness of such
Registration Statement or the institution or threatening of
any proceeding for that purpose and (iv) of the receipt by
the Company of any written notification with respect to the
suspension of the qualification of such Offered
Certificates for sale in any jurisdiction or the initiation
or threatening of any proceeding for such purpose. The
Company will not file any amendment of the related
Registration Statement or supplement to the related
Prospectus (other than any amendment or supplement
specifically relating to one or more Series of pass-through
certificates other than the Series that includes the
related Offered Certificates) unless the Company has
furnished the Underwriter with a copy for its review prior
to filing. The Company will use its best efforts to prevent
the issuance of any such stop order and, if issued, to
obtain as soon as possible the withdrawal thereof.
(b) The Company will cause any Computational
Materials and any Structural Term Sheets (each as defined
in Section 8 below) with respect to the Offered
Certificates of a Series that are delivered by the
Underwriter to the Company pursuant to Section 8 to be
filed with the Commission on a Current Report on Form 8-K
(each such filing of such materials, a "Current Report")
pursuant to Rule 13a- 11 under the Exchange Act on the
business day immediately following the later of (i) the day
on which such Computational Materials and Structural Term
Sheets are delivered to counsel for the Company by the
Underwriter prior to 10:30 a.m. and (ii) the date on which
this Agreement is executed and delivered. The Company will
cause one Collateral Term Sheet (as defined in Section 9
below) with respect to the Offered Certificates of a Series
that is delivered by the Underwriter to the Company in
accordance with the provisions of Section 9 to be filed
with the Commission on a Current Report pursuant to Rule
13a-11 under the Exchange Act on the business day
immediately following the day on which such Collateral Term
Sheet is delivered to counsel for the Company by the
Underwriter prior to 10:30 a.m. In addition, if at any time
prior to the availability of the related Prospectus
Supplement the Underwriter has delivered to any prospective
investor a Collateral Term
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Sheet that reflects, in the reasonable judgment of the
Underwriter and the Company, a material change in the
characteristics of the Mortgage Loans for the related
Series from those on which a Collateral Term Sheet with
respect to the related Series previously filed with the
Commission was based, the Company will cause any such
Collateral Term Sheet that is delivered by the Underwriter
to the Company in accordance with the provisions of Section
9 to be filed with the Commission on a Current Report on
the business day immediately following the day on which
such Collateral Term Sheet is delivered to counsel for the
Company by the Underwriter prior to 10:30 a.m. In each
case, the Company will promptly advise the Underwriter when
such Current Report has been so filed. Each such Current
Report shall be incorporated by reference in the related
Prospectus and the related Registration Statement.
Notwithstanding the five preceding sentences, the Company
shall have no obligation to file any materials provided by
the Underwriter pursuant to Sections 8 and 9 which, in the
reasonable determination of the Company after making
reasonable efforts to consult with the Underwriter, are not
required to be filed pursuant to the Kidder Letters or the
PSA Letter (each as defined in Section 8 below), or which
contain erroneous information or contain any untrue
statement of a material fact or, when read in conjunction
with the Prospectus and Prospectus Supplement, omit to
state a material fact required to be stated therein or
necessary to make the statements therein not misleading; it
being understood, however, that the Company shall have no
obligation to review or pass upon the accuracy or adequacy
of, or to correct, any Computational Materials, Structural
Term Sheets or Collateral Term Sheets provided by the
Underwriter to the Company pursuant to Section 8 or Section
9 hereof.
(c) If, at any time when a prospectus relating to
the Offered Certificates of a Series is required to be
delivered under the Act, any event occurs as a result of
which the related Prospectus as then amended or
supplemented would include any untrue statement of a
material fact or omit to state any material fact necessary
to make the statements therein in light of the
circumstances under which they were made not misleading, or
if it shall be necessary at any time to amend or supplement
the related Prospectus to comply with the Act or the rules
thereunder, the Company promptly will prepare and file with
the Commission, subject to paragraph (a) of this Section 5,
an amendment or supplement which will correct such
statement or omission or an amendment which will effect
such compliance; provided, however, that the Company will
not be required to file any such amendment or supplement
with respect to any Computational Materials, Structural
Term Sheets or Collateral Term Sheets incorporated by
reference in the
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Prospectus other than any amendments or supplements of such
Computational Materials or Structural Term Sheets that are
furnished to the Company by the Underwriter pursuant to
Section 8(e) hereof or any amendments or supplements of
such Collateral Term Sheets that are furnished to the
Company by the Underwriter pursuant to Section 9(d) hereof
which the Company determines to file in accordance
therewith.
(d) The Company will furnish to the Underwriter
and counsel for the Underwriter, without charge, as many
signed copies of the related Registration Statement
(including exhibits thereto) and, so long as delivery of a
prospectus by the Underwriter or dealer may be required by
the Act, as many copies of the related Prospectus and any
supplements thereto (other than exhibits to the related
Current Report) as the Underwriter may reasonably request.
(e) The Company will furnish such information,
execute such instruments and take such actions as may be
reasonably requested by the Underwriter to qualify the
Offered Certificates of a Series for sale under the laws of
such jurisdictions as the Underwriter may designate, to
maintain such qualifications in effect so long as required
for the distribution of such Offered Certificates and to
determine the legality of such Offered Certificates for
purchase by institutional investors; provided, however,
that the Company shall not be required to qualify to do
business in any jurisdiction where it is not qualified on
the date of the related Terms Agreement or to take any
action which would subject it to general or unlimited
service of process in any jurisdiction in which it is not,
on the date of the related Terms Agreement, subject to such
service of process.
(f) So long as the Offered Certificates of a
Series are outstanding, the Company will furnish to the
Underwriter copies of the annual independent public
accountants' servicing report furnished to the Trustee
pursuant to Section 3.13 of the related Pooling and
Servicing Agreement.
(g) Whether or not the transactions contemplated
hereby and by the related Terms Agreement shall be
consummated, the Company shall be responsible for the
payment of any costs and expenses for which details are
submitted, in connection with the performance of its
obligations under this Agreement and the related Terms
Agreement, including, without limitation, (a) the cost and
expenses of printing or otherwise reproducing the related
Registration Statement or Prospectus, this Agreement, the
related Terms Agreement, the related Pooling and Servicing
Agreement and the Offered Certificates, and (b) the cost of
delivering the related Offered Certificates to the office of
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the Underwriter, insured to the satisfaction of the
Underwriter (it being understood that, except as provided
in this paragraph (f) and in Section 7 hereof, the
Underwriter will pay all its own costs and expenses,
including the fees of Brown & Wood LLP, counsel for the
Underwriter, transfer taxes on resale of any Offered
Certificates by it, advertising expenses connected with any
offers that it may make, the fees of KPMG Peat Marwick LLP
with respect to its letters furnished pursuant to Section
6(i) of this Agreement and any letter furnished pursuant to
the last sentence of Section 6(h) hereof, the fees of any
firm of public accountants selected by the Underwriter with
respect to their letter furnished pursuant to Section 8(c)
of this Agreement, any other costs and expenses specified
in the related Terms Agreement as "Additional Expenses",
and all expenses (e.g., shipping, postage and courier
costs) associated with the delivery of the related
Prospectus to prospective investors and investors, other
than the costs of delivery to the Underwriter's facilities,
provided, that if courier services (other than overnight
delivery services utilized in the ordinary course of
business) are required to ensure that such Prospectus is
delivered to investors on the day immediately preceding the
related Closing Date, the Company will pay such courier
expenses).
6. Conditions to the Obligations of the Underwriter.
The obligations of the Underwriter to purchase the Offered
Certificates of any Series shall be subject to the accuracy in
all material respects of the representations and warranties on
the part of the Company contained in this Agreement, as
supplemented by the related Terms Agreement, as of the respective
dates thereof and the related Closing Date, to the accuracy of
the statements of the Company made in any applicable officers'
certificates pursuant to the provisions hereof, to the
performance by the Company of its obligations under this
Agreement and such Terms Agreement and to the following
additional conditions applicable to the related Certificate
Offering:
(a) No stop order suspending the effectiveness of
the related Registration Statement shall have been issued
and no proceedings for that purpose shall have been
instituted or threatened.
(b) Cleary, Gottlieb, Steen & Hamilton, counsel
for the Company, shall have furnished to the Underwriter an
opinion, dated the related Closing Date, to the effect
that:
(i) this Agreement and the related Terms
Agreement have been duly executed and delivered by the
Company under the law of the State of New York;
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(ii) the related Pooling and Servicing
Agreement has been duly executed and delivered by the
Company under the law of the State of New York and is
a legal, valid and binding agreement of the Company
enforceable against the Company in accordance with its
terms;
(iii) the Offered Certificates, when duly
executed and countersigned by the Trustee in
accordance with the related Pooling and Servicing
Agreement, will be validly issued and outstanding and
entitled to the benefits of such Pooling and Servicing
Agreement;
(iv) the related Pooling and Servicing
Agreement is not required to be qualified under the
Trust Indenture Act of 1939, as amended, and the trust
created thereunder is not required to be registered
under the Investment Company Act of 1940, as amended;
(v) such counsel confirms that (based
solely upon telephone confirmation from a
representative of the Commission) the related
Registration Statement is effective under the Act and,
to the best of such counsel's knowledge, no stop order
with respect thereto has been issued, and no
proceeding for that purpose has been instituted or
threatened by the Commission; such Registration
Statement (except the financial statements and
schedules and other financial and statistical data
included therein and the documents incorporated by
reference therein, as to which such counsel need
express no view), at the time it became effective and
the related Prospectus (except the financial
statements and schedules and the other financial and
statistical data included therein, the documents
incorporated by reference therein and the information
included in the second sentence of the antepenultimate
paragraph, the first sentence of the penultimate
paragraph, and the last paragraph of the cover page of
such Prospectus Supplement and in the second and
fourth sentences of the first paragraph under the
heading "Plan of Distribution" therein, as to which
such counsel need express no view), as of the date of
the Prospectus Supplement appeared on their face to be
appropriately responsive in all material respects to
the requirements of the Act and the rules and
regulations thereunder; and no information has come to
the attention of such counsel that causes it to
believe that (A) such Registration Statement (except
the financial statements and schedules and the other
financial and statistical data included therein and
the documents incorporated by reference therein, as to
which such counsel need express no view) at the time it
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<PAGE>
became effective, contained an untrue statement of a
material fact or omitted to state a material fact
required to be stated therein or necessary to make the
statements therein not misleading or (B) such
Prospectus or any amendment or supplement thereto
(except the financial statements and schedules and the
other financial and statistical data included therein,
the documents incorporated by reference therein and
the information included in the second sentence of the
antepenultimate paragraph, the first sentence of the
penultimate paragraph, and the last paragraph of the
cover page of such Prospectus Supplement and in the
second and fourth sentences of the first paragraph
under the heading "Plan of Distribution" therein, as
to which such counsel need express no view), as of the
date of the Prospectus Supplement, or at the related
Closing Date, contained or contains an untrue
statement of a material fact or omitted or omits to
state a material fact necessary in order to make the
statements therein, in the light of the circumstances
under which they were made, not misleading;
(vi) the statements set forth under the
heading "Description of the Certificates" in the
related Prospectus, insofar as such statements purport
to summarize certain provisions of the related Pooling
and Servicing Agreement and the related Offered
Certificates, provide a fair summary of such
provisions;
(vii) the statements set forth in the
related Prospectus under the headings "Certain Legal
Aspects of the Mortgage Loans and Contracts -- The
Mortgage Loans", "Certain Federal Income Tax
Consequences" (insofar as they relate specifically to
the purchase, ownership and disposition of the related
Offered Certificates) and "ERISA Considerations"
(insofar as they relate specifically to the purchase,
ownership and disposition of such Offered
Certificates), to the extent that they constitute
matters of law or legal conclusions, provide a fair
summary of such law or conclusions;
(viii) assuming compliance with all
provisions of the related Pooling and Servicing
Agreement, for federal income tax purposes, (A) if any
election is made to treat the assets of the Trust Fund
as a REMIC: the related Trust Fund (and any specified
subgrouping therein) will qualify as a REMIC pursuant
to Section 860D of the Internal Revenue Code of 1986,
as amended (the "Code"), each Class of Certificates of
the related Series, other than the related Residual
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<PAGE>
Class or Classes, will constitute a class of "regular
interests" in the related REMIC within the meaning of
the Code, and each Class of such Certificates
specified in the related Prospectus as a Class of
Residual Certificates will constitute the "residual
interest" in the related REMIC within the meaning of
the Code; (B) if no such REMIC election is made: the
Trust Fund will be treated as a "grantor trust"; and
(ix) assuming that some or all of the
Offered Certificates of the related Series shall be
rated at the time of issuance in one of the two
highest rating categories by a nationally recognized
statistical rating organization, each Offered
Certificate so rated will be at the time of issuance,
a "mortgage related security" as such term is defined
in Section 3(a)(41) of the Exchange Act.
Such opinion may express its reliance as to factual matters
on the representations and warranties made by, and on
certificates or other documents furnished by, officers of
the parties to this Agreement, the related Terms Agreement
or the related Pooling and Servicing Agreement. Such
opinion may assume the due authorization, execution and
delivery of the instruments and documents referred to
therein by the parties thereto other than the Company. Such
opinion may be qualified, insofar as it concerns the
enforceability of the documents referred to therein, to the
extent that such enforceability may be limited by
bankruptcy, insolvency, reorganization or other similar
laws affecting the enforcement of creditors' rights in
general and by general equity principles (regardless of
whether such enforcement is considered in a proceeding in
equity or at law). Such opinion may be further qualified as
expressing no opinion as to (x) the statements in the
related Prospectus under the heading "Certain Legal Aspects
of the Mortgage Loans and Contracts -- The Mortgage Loans"
except insofar as such statements relate to the laws of the
State of New York and the laws of the United States, and
(y) the statements in such Prospectus under the headings
"ERISA Considerations" and "Certain Federal Income Tax
Consequences" except insofar as such statements relate to
the laws of the United States. In addition, such opinion
may be qualified as an opinion only on the law of the State
of New York and the federal law of the United States of
America.
(c) The General Counsel for the Company shall
have furnished to the Underwriter an opinion, dated the
related Closing Date, to the effect that:
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<PAGE>
(i) The Company has been duly
incorporated and is validly existing as a corporation
in good standing under the laws of the State of New
Jersey, with corporate power to own its properties, to
conduct its business as described in the related
Prospectus and to enter into and perform its
obligations under this Agreement, the related Terms
Agreement, the related Pooling and Servicing Agreement
and the Certificates of the related Series;
(ii) The Company has full power and
authority to sell and service the related Mortgage
Loans as contemplated herein and in the related
Pooling and Servicing Agreement;
(iii) No consent, approval, authorization
or order of any court or governmental agency or body
is required for the consummation by the Company of the
transactions contemplated herein or in the related
Pooling and Servicing Agreement, except such as may be
required under the blue sky laws of any jurisdiction
and such other approvals as have been obtained;
(iv) Neither the issuance of the
Certificates of the related Series nor delivery of the
related Offered Certificates, nor the consummation of
any other of the transactions contemplated in this
Agreement, the related Terms Agreement or the related
Pooling and Servicing Agreement, nor the fulfillment
of the terms of the related Certificates, the related
Pooling and Servicing Agreement, this Agreement or the
related Terms Agreement will conflict with or violate
any term or provision of the articles of incorporation
or by-laws of the Company or any statute, order or
regulation applicable to the Company of any court,
regulatory body, administrative agency or governmental
body having jurisdiction over the Company and will not
conflict with, result in a breach or violation or the
acceleration of or constitute a default under the
terms of any indenture or other agreement or
instrument known to such counsel to which the Company
is a party or by which it is bound; and
(v) There are no actions, proceedings or
investigations pending or, to the best knowledge of
such counsel, threatened before any court,
administrative agency or other tribunal (i) asserting
the invalidity of this Agreement, the related Terms
Agreement, the related Pooling and Servicing Agreement
or the related Certificates, (ii) seeking to prevent
the issuance of the Certificates of the related Series
or the consummation by the Company of any of the
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<PAGE>
transactions contemplated by this Agreement, such
Terms Agreement or such Pooling and Servicing
Agreement, or (iii) which might materially and
adversely affect the performance by the Company of its
obligations under, or the validity or enforceability
of, this Agreement, such Terms Agreement, such Pooling
and Servicing Agreement or the related Certificates.
In rendering her opinion such counsel may rely as to
matters of fact, to the extent deemed proper and as stated
therein, on certificates of responsible officers of the
Company or public officials. In addition, such opinion may
be qualified as an opinion only on the laws of the State of
New Jersey.
(d) The Underwriter shall have received from
Brown & Wood LLP, counsel for the Underwriter, such opinion
or opinions, dated the related Closing Date, with respect
to the issuance and sale of the Certificates of the related
Series, the related Registration Statement, the related
Prospectus and such other related matters as the
Underwriter may reasonably require, and the Company shall
have furnished to such counsel such documents as the
Underwriter may reasonably request for the purpose of
enabling them to pass upon such matters.
(e) The Company shall have furnished to the
Underwriter a certificate of the Company, signed by the
President or any Vice President and the Senior Vice
President-Finance or the principal financial or accounting
officer of the Company, dated the related Closing Date, to
the effect that the signers of such certificate have
carefully examined the related Registration Statement
(excluding any Current Reports and any other documents
incorporated by reference therein), the related Prospectus,
the Detailed Description referred to in such Prospectus
(excluding any related Current Report), this Agreement and
the related Terms Agreement and that:
(i) the representations and warranties of
the Company in this Agreement are true and correct in
all material respects on and as of the related Closing
Date with the same effect as if made on such Closing
Date, and the Company has complied with all the
agreements and satisfied all the conditions on its
part to be performed or satisfied at or prior to such
Closing Date;
(ii) no stop order suspending the
effectiveness of such Registration Statement has been
issued and no proceedings for that purpose have been
instituted or, to their knowledge, threatened; and
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<PAGE>
(iii) nothing has come to their attention
that would lead them to believe that such Registration
Statement (excluding any Current Report) contains any
untrue statement of a material fact or omits to state
any material fact required to be stated therein or
necessary to make the statements therein not
misleading, that the related Prospectus (excluding any
related Current Report) contains any untrue statement
of a material fact or omits to state a material fact
required to be stated therein or necessary to make the
statements therein, in the light of the circumstances
under which they were made, not misleading, or that
the Detailed Description referred to in such
Prospectus includes any untrue statement of a material
fact or omits to state any information which the
Prospectus states will be included in such Detailed
Description.
(f) Peabody & Arnold, counsel for the Trustee,
shall have furnished to the Underwriter an opinion, dated
the related Closing Date, to the effect that:
(i) the Trustee has been duly
incorporated and is validly existing as a corporation
in good standing under the laws of the Commonwealth of
Massachusetts with corporate power to own its
properties and conduct its business as presently
conducted by it, to conduct business as a trustee and
to enter into and perform its obligations under the
related Pooling and Servicing Agreement;
(ii) the related Pooling and Servicing
Agreement has been duly authorized, executed and
delivered by the Trustee and constitutes the legal,
valid and binding agreement of the Trustee enforceable
against the Trustee in accordance with its terms,
subject to bankruptcy, insolvency, fraudulent
conveyance, reorganization or other similar laws
affecting the enforcement of creditors' rights
generally and to judicial discretion, and general
principles of equity (regardless of whether
enforcement is sought in a proceeding in equity or at
law);
(iii) the Trustee has duly accepted its
appointment as trustee under the related Pooling and
Servicing Agreement;
(iv) no consent, approval, authorization
or order of any Massachusetts or federal court or
government agency or body is required on the part of
the Trustee for the consummation of the transactions
contemplated in the related Pooling and Servicing
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<PAGE>
Agreement, except such as may be required under any
federal or state securities law; and
(v) the performance on the part of the
Trustee of any of the transactions contemplated in the
related Pooling and Servicing Agreement does not
conflict with or result in a breach or violation of
any term or provision of, or constitute a default
under, the Articles of Organization, as amended, or
By-Laws of the Trustee, or any Massachusetts or
federal statute or regulation applicable to the
Trustee, or to such counsel's knowledge, any indenture
or other agreement or instrument to which the Trustee
is a party or by which it is bound, or, to such
counsel's knowledge, any order of any state or federal
court, regulatory body, administrative agency or
governmental body having jurisdiction over the
Trustee.
In addition, such counsel shall furnish to the Underwriter
such opinions as to the treatment of the Trust Fund for
purposes of Massachusetts tax law as are reasonably
satisfactory to the Underwriter.
(g) KPMG Peat Marwick LLP shall have furnished to
the Underwriter a letter, dated as of the date of the
related Terms Agreement, in form and substance satisfactory
to the Underwriter, stating in effect that they have
performed certain specified procedures as a result of which
they have determined that such information as the
Underwriter may reasonably request of an accounting,
financial or statistical nature (which is limited to
accounting, financial or statistical information derived
from the general accounting records of the Company) set
forth in the related Prospectus Supplement under the
caption "Delinquency and Foreclosure Experience of the
Company" agrees with the accounting records of the Company,
excluding any questions of legal interpretation.
(h) KPMG Peat Marwick LLP shall have furnished to
the Underwriter a letter, dated as of the related Closing
Date, in form and substance satisfactory to the
Underwriter, stating in effect that they have performed
certain specified procedures as a result of which they have
determined that such information as the Underwriter may
reasonably request of an accounting, financial or
statistical nature (which is limited to accounting,
financial or statistical information derived from the
general accounting records of the Company and which is
obtained from an analysis of a sample of the Mortgage Loans
included in the related pool) set forth in the related
Prospectus Supplement under the caption "Description of the
Mortgage Pool and the Mortgaged Properties" or "Description
of the Mortgage Pools and the
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<PAGE>
Mortgaged Properties", as the case may be, and in the
Detailed Description relating to such Prospectus Supplement
is mutually consistent and agrees with the accounting
records of the Company and, where applicable, the related
Mortgage Loan files of the Company, excluding any questions
of legal interpretation. In addition, if applicable, such
accountants shall have furnished to the Underwriter a
letter, dated as of the related Closing Date, which shall
include a statement or statements to the effect that based
upon the assumptions and methodology agreed to by the
Company (and which is consistent with the manner in which
any final PAC Balances, TAC Balances, Scheduled Balances,
Maximum and Minimum Scheduled Balances or any other
scheduled balances are to be calculated as set forth in the
related Prospectus), all of which shall be described by
reference in such letter, such accountants shall have
verified the mathematical accuracy of any final PAC
Balances Table, TAC Balances Table, Scheduled Balances
Table, Maximum or Minimum Scheduled Balances Table or other
scheduled balances table attached as an exhibit to the
related Pooling and Servicing Agreement.
(i) KPMG Peat Marwick LLP shall have furnished to
the Underwriter and the Company a letter or letters, dated
as of the date of the related Terms Agreement, in form and
substance satisfactory to the Underwriter and the Company,
including, without limitation, statements, if applicable,
to the effect that:
(i) based upon the assumptions and
methodology set forth in the related Prospectus, all
of which shall be described by reference in such
letter, they recomputed the percentages of initial
principal balance outstanding as of each of the
Distribution Dates (as defined in such Prospectus)
indicated and the weighted average lives of each Class
of Offered Certificates at each of the indicated
percentages of the applicable Prepayment Assumption,
and they compared the recomputed percentages and
weighted average lives to the corresponding
percentages and weighted average lives set forth in
the related tables and found them to be in agreement;
(ii) based upon the assumptions and
methodology set forth in such Prospectus, all of which
shall be described by reference in such letter, they
have verified the mathematical accuracy of any
Scheduled Final Distribution Dates for the Offered
Certificates, PAC Balances, TAC Balances, Scheduled
Balances, Maximum and Minimum Scheduled Balances or
any other scheduled balances set forth in such
Prospectus for each indicated Distribution Date, and
have verified
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the mathematical accuracy of any initial Effective
Ranges of any PAC Certificates, Scheduled Certificates
or other scheduled Certificates set forth in such
Prospectus; and
(iii) based upon the assumptions and
methodology set forth in such Prospectus, all of which
shall be described by reference in such letter, they
have verified the mathematical accuracy of the pre-tax
yields to maturity and, if applicable, aggregate cash
flows of any Class of Certificates for which such
pre-tax yields and, if applicable, aggregate cash
flows are set forth in such Prospectus at the
indicated percentages of the Prepayment Assumption
and, if applicable, at the indicated values of COFI,
LIBOR or any other index, as applicable.
(j) The Offered Certificates of the related
Series shall have received the ratings specified in the
related Terms Agreement (the "Required Ratings").
(k) Prior to the related Closing Date, the
Company shall have furnished to the Underwriter such
further information, certificates and documents as the
Underwriter may reasonably request.
(l) If any Certificates of the related Series are
to be sold to any other underwriter and/or offered in
reliance upon an exemption from the registration
requirements of the Act, the sale at or prior to the
related Closing Date of such Certificates to the purchaser
thereof shall have occurred.
(m) Subsequent to the date of the related Terms
Agreement, there shall not have been any change, or any
development involving a prospective change, in or affecting
the business or properties of the Company which the
Underwriter concludes in its judgment, after consultation
with the Company, materially impairs the investment quality
of the Offered Certificates of the related Series so as to
make it impractical or inadvisable to proceed with the
public offering or the delivery of such Offered
Certificates as contemplated by the related Prospectus.
If any of the conditions specified in this Section 6
shall not have been fulfilled in all material respects with
respect to the particular Offered Certificates of a Series when
and as provided in this Agreement and the related Terms
Agreement, or if any of the opinions and certificates mentioned
above or elsewhere in this Agreement and the related Terms
Agreement shall not be in all material respects reasonably
satisfactory in form and substance to the Underwriter and its
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counsel, this Agreement (with respect to the related Offered
Certificates) and the related Terms Agreement and all obligations
of the Underwriter hereunder (with respect to the related Offered
Certificates) and thereunder may be canceled at, or at any time
prior to, the related Closing Date by the Underwriter. Notice of
such cancellation shall be given to the Company in writing, or by
telephone or telegraph confirmed in writing.
7. Indemnification and Contribution. (a) The Company
agrees to indemnify and hold harmless the Underwriter and each
person who controls the Underwriter within the meaning of the Act
or the Exchange Act against any and all losses, claims, damages
or liabilities, joint or several, to which they or any of them
may become subject under the Act, the Exchange Act, or other
Federal or state statutory law or regulation, at common law or
otherwise, insofar as such losses, claims, damages or liabilities
(or actions in respect thereof) arise out of or are based upon
any untrue statement or alleged untrue statement of a material
fact contained in the Registration Statement relating to the
Offered Certificates of the applicable Series as it became
effective or in any amendment or supplement thereof, or in such
Registration Statement or the related Prospectus, or in any
amendment thereof, or in the Detailed Description referred to in
such Prospectus or arise out of or are based upon the omission or
alleged omission (in the case of any Computational Materials or
ABS Term Sheets (in each case, as defined herein) in respect of
which the Company agrees to indemnify the Underwriter, as set
forth below, when such are read in conjunction with the related
Prospectus and Prospectus Supplement) to state therein a material
fact required to be stated therein or necessary to make the
statements therein not misleading, and agrees to reimburse each
such indemnified party for any legal or other expenses reasonably
incurred by them in connection with investigating or defending
any such loss, claim, damage, liability or action; provided,
however, that (i) the Company will not be liable in any such case
to the extent that any such loss, claim, damage or liability
arises out of or is based upon any such untrue statement or
alleged untrue statement or omission or alleged omission made
therein (A) in reliance upon and in conformity with written
information furnished to the Company as herein stated by or on
behalf of the Underwriter specifically for use in connection with
the preparation thereof or (B) in any Current Report or any
amendment or supplement thereof, except to the extent that any
untrue statement or alleged untrue statement therein or omission
therefrom results (or is alleged to have resulted) directly from
an error (a "Mortgage Pool Error") in the information concerning
the characteristics of the Mortgage Loans furnished by the
Company to the Underwriter in writing or by electronic
transmission that was used in the preparation of either (x) any
Computational Materials or ABS Term Sheets (or amendments or
supplements thereof) included in such Current Report (or
amendment or supplement thereof) or (y) any written or electronic
- 19 -
<PAGE>
materials furnished to prospective investors on which the
Computational Materials (or amendments or supplements) were
based, (ii) such indemnity with respect to any Corrected
Statement (as defined below) in such Prospectus (or supplement
thereto) shall not inure to the benefit of the Underwriter (or
any person controlling the Underwriter) from whom the person
asserting any loss, claim, damage or liability purchased the
Certificates of the related Series that are the subject thereof
if such person did not receive a copy of a supplement to such
Prospectus at or prior to the confirmation of the sale of such
Certificates and the untrue statement or omission of a material
fact contained in such Prospectus (or supplement thereto) was
corrected (a "Corrected Statement") in such other supplement and
such supplement was furnished by the Company to the Underwriter
prior to the delivery of such confirmation, and (iii) such
indemnity with respect to any Mortgage Pool Error shall not inure
to the benefit of the Underwriter (or any person controlling the
Underwriter) from whom the person asserting any loss, claim,
damage or liability received any Computational Materials (or any
written or electronic materials on which the Computational
Materials are based) or ABS Term Sheets that were prepared on the
basis of such Mortgage Pool Error, if, prior to the time of
confirmation of the sale of the applicable Certificates to such
person, the Company notified the Underwriter in writing of the
Mortgage Pool Error or provided in written or electronic form
information superseding or correcting such Mortgage Pool Error
(in any such case, a "Corrected Mortgage Pool Error"), and the
Underwriter failed to notify such person thereof or to deliver to
such person corrected Computational Materials (or underlying
written or electronic materials) or ABS Term Sheets. This
indemnity agreement will be in addition to any liability which
the Company may otherwise have.
(b) The Underwriter agrees to indemnify and hold
harmless the Company, each of its directors, each of its officers
who signs the Registration Statement relating to the Offered
Certificates of the applicable Series, and each person who
controls the Company within the meaning of the Act or the
Exchange Act to the same extent as the foregoing indemnities from
the Company to the Underwriter, but only with reference to (A)
written information furnished to the Company by or on behalf of
the Underwriter specifically for use in the preparation of the
documents referred to in the foregoing indemnity with respect to
the related Series, or (B) any Computational Materials or ABS
Term Sheets (or amendments or supplements thereof) furnished to
the Company by the Underwriter pursuant to Section 8 or Section 9
and incorporated by reference in such Registration Statement or
the related Prospectus or any amendment or supplement thereof
(except that no such indemnity shall be available for any losses,
claims, damages or liabilities, or actions in respect thereof,
resulting from any Mortgage Pool Error, other than a Corrected
Mortgage Pool Error). This indemnity agreement will be in
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<PAGE>
addition to any liability which the Underwriter may otherwise
have. The Company acknowledges that the statements set forth in
the second sentence of the ante-penultimate paragraph, the first
sentence of the penultimate paragraph, and in the last paragraph
appearing on the cover page of the related Prospectus Supplement
as such statements relate to such Offered Certificates and the
second sentence of the first paragraph under the heading "Plan of
Distribution" in such Prospectus Supplement as such statements
relate to such Offered Certificates constitute the only
information furnished in writing by or on behalf of the
Underwriter for inclusion in the related Prospectus (other than
any Computational Materials or ABS Term Sheets (or amendments or
supplements thereof) furnished to the Company by the
Underwriter), and the Underwriter confirms that such statements
are correct.
(c) Promptly after receipt by an indemnified party
under Section 7 of notice of the commencement of any action, such
indemnified party will, if a claim in respect thereof is to be
made against the indemnifying party under this Section 7, notify
the indemnifying party in writing of the commencement thereof;
but the omission so to notify the indemnifying party will not
relieve it from any liability which it may have to any
indemnified party otherwise than under this Section 7. In case
any such action is brought against any indemnified party, and it
notifies the indemnifying party of the commencement thereof, the
indemnifying party will be entitled to participate therein, and
to the extent that it may elect by written notice delivered to
the indemnified party promptly after receiving the aforesaid
notice from such indemnified party, to assume the defense
thereof, with counsel satisfactory to such indemnified party;
provided, however, that if the defendants in any such action
include both the indemnified party and the indemnifying party and
the indemnified party shall have reasonably concluded that there
may be legal defenses available to it and/or other indemnified
parties which are different from or additional to those available
to the indemnifying party, the indemnified party or parties shall
have the right to select separate counsel to assert such legal
defenses and to otherwise participate in the defense of such
action on behalf of such indemnified party or parties. Upon
receipt of notice from the indemnifying party to such indemnified
party of its election so to assume the defense of such action and
approval by the indemnified party of counsel, the indemnifying
party will not be liable to such indemnified party under this
Section 7 for any legal or other expenses subsequently incurred
by such indemnified party in connection with the defense thereof
unless (i) the indemnified party shall have employed separate
counsel in connection with the assertion of legal defenses in
accordance with the proviso to the next preceding sentence (it
being understood, however, that the indemnifying party shall not
be liable for the expenses of more than one separate counsel
approved by the indemnified party in the case of subparagraph (a)
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<PAGE>
or (b), representing the indemnified parties under subparagraph
(a) or (b), who are parties to such action), (ii) the
indemnifying party shall not have employed counsel satisfactory
to the indemnified party to represent the indemnified party
within a reasonable time after notice of commencement of the
action or (iii) the indemnifying party has authorized the
employment of counsel for the indemnified party at the expense of
the indemnifying party; and except that, if clause (i) or (iii)
is applicable, such liability shall be only in respect of the
counsel referred to in such clause (i) or (iii).
(d) If the indemnification provided for in paragraph
(a) or (b) of this Section 7 is due in accordance with its terms
but is for any reason held by a court to be unavailable from the
Company or the Underwriter, on grounds of policy or otherwise, or
if the indemnified party failed to give notice under paragraph
(c) of this Section 7 in respect of a claim otherwise subject to
indemnification in accordance with paragraph (a) or (b) of this
Section 7, the Company and the Underwriter shall contribute to
the aggregate losses, claims, damages and liabilities (including
legal and other expenses reasonably incurred in connection with
investigating or defending same) to which the Company and the
Underwriter may be subject, as follows:
(i) in the case of any losses, claims, damages and
liabilities (or actions in respect thereof) which do not
arise out of or are not based upon any untrue statement or
omission of a material fact in any Computational Materials
or ABS Term Sheets (or any amendments or supplements
thereof), in such proportion so that the Underwriter is
responsible for that portion represented by the difference
between the proceeds to the Company in respect of the
Offered Certificates appearing on the cover page of the
Prospectus Supplement for the related Series and the total
proceeds received by the Underwriter from the sale of such
Offered Certificates (the "Underwriting Discount"), and the
Company is responsible for the balance; provided, however,
that in no case shall the Underwriter be responsible under
this subparagraph (i) for any amount in excess of such
Underwriting Discount applicable to the Offered
Certificates purchased by the Underwriter pursuant to this
Agreement and the related Terms Agreement; and
(ii) in the case of any losses, claims, damages and
liabilities (or actions in respect thereof) which arise out
of or are based upon any untrue statement or omission of a
material fact in any Computational Materials or ABS Term
Sheets (or any amendments or supplements thereof) or in any
written or electronic materials distributed to prospective
investors on which the Computational Materials are based,
in such proportion as is appropriate to reflect the
relative fault of the Company on the one hand and the
Underwriter on
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<PAGE>
the other in connection with the statements or omissions
which resulted in such losses, claims, damages or
liabilities (or actions in respect thereof) as well as any
other relevant equitable considerations. The relative fault
shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a
material fact or the omission or alleged omission to state
a material fact in such Computational Materials or ABS Term
Sheets (or any amendments or supplements thereof or such
written or electronic materials) results from information
prepared by the Company on the one hand or the Underwriter
on the other and the parties' relative intent, knowledge,
access to information and opportunity to correct or prevent
such statement or omission.
Notwithstanding anything to the contrary in this Section 7(d), no
person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Act) shall be entitled to contribution
from any person who was not guilty of such fraudulent
misrepresentation. For purposes of this Section 7, each person
who controls the Underwriter within the meaning of either the Act
or the Exchange Act shall have the same rights to contribution as
the Underwriter, and each person who controls the Company within
the meaning of either the Act or the Exchange Act, each officer
of the Company who shall have signed the Registration Statement
and each director of the Company shall have the same rights to
contribution as the Company, subject in each case to the
immediately preceding sentence of this paragraph (d).
8. Computational Materials and Structural Term Sheets.
(a) Not later than 10:30 a.m., New York time, on the business day
before the date on which the Current Report relating to the
Offered Certificates of a Series is required to be filed by the
Company with the Commission pursuant to Section 5(b) hereof, the
Underwriter shall deliver to the Company five complete copies of
all materials provided by the Underwriter to prospective
investors in such Offered Certificates that constitute (i)
"Computational Materials" within the meaning of the no-action
letter dated May 20, 1994 issued by the Division of Corporation
Finance of the Commission to Kidder, Peabody Acceptance
Corporation I, Kidder, Peabody & Co. Incorporated, and Kidder
Structured Asset Corporation and the no-action letter dated May
27, 1994 issued by the Division of Corporation Finance of the
Commission to the Public Securities Association (together, the
"Kidder Letters"), the filing of which material is a condition of
the relief granted in such letter (such materials being the
"Computational Materials"), and (ii) "Structural Term Sheets"
within the meaning of the no-action letter dated February 17,
1995 issued by the Division of Corporation Finance of the
Commission to the Public Securities Association (the "PSA
Letter"), the filing of which material is a condition of the
relief granted in such letter (such materials being the
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<PAGE>
"Structural Term Sheets"). Each delivery of Computational
Materials and Structural Term Sheets to the Company pursuant to
this paragraph (a) shall be effected by delivering four copies of
such materials to counsel for the Company on behalf of the
Company at the address specified in Section 3 hereof and one copy
of such materials to the Company.
(b) The Underwriter represents and warrants to and
agrees with the Company, as of the date of the related Terms
Agreement and as of the Closing Date, that:
(i) the Computational Materials furnished to the
Company pursuant to Section 8(a) constitute (either in
original, aggregated or consolidated form) all of the
materials furnished to prospective investors by the
Underwriter prior to the time of delivery thereof to
the Company that are required to be filed with the
Commission with respect to the related Offered
Certificates in accordance with the Kidder Letters,
and such Computational Materials comply with the
requirements of the Kidder Letters;
(ii) the Structural Term Sheets furnished to the
Company pursuant to Section 8(a) constitute all of the
materials furnished to prospective investors by the
Underwriter prior to the time of delivery thereof to
the Company that are required to be filed with the
Commission as "Structural Term Sheets" with respect to
the related Offered Certificates in accordance with
the PSA Letter, and such Structural Term Sheets comply
with the requirements of the PSA Letter; and
(iii) on the date any such Computational Materials
or Structural Term Sheets with respect to such Offered
Certificates (or any written or electronic materials
furnished to prospective investors on which the
Computational Materials are based) were last furnished
to each prospective investor and on the date of
delivery thereof to the Company pursuant to Section
8(a) and on the related Closing Date, such
Computational Materials (or such other materials) or
Structural Term Sheets did not and will not include
any untrue statement of a material fact or, when read
in conjunction with the related Prospectus and
Prospectus Supplement, omit to state a material fact
required to be stated therein or necessary to make the
statements therein not misleading.
Notwithstanding the foregoing, the Underwriter makes no
representation or warranty as to whether any Computational
Materials or Structural Term Sheets (or any written or electronic
materials on which the Computational Materials are based)
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<PAGE>
included or will include any untrue statement resulting directly
from any Mortgage Pool Error (except any Corrected Mortgage Pool
Error, with respect to materials prepared after the receipt by
the Underwriter from the Company of notice of such Corrected
Mortgage Pool Error or materials superseding or correcting such
Corrected Mortgage Pool Error).
(c) The Underwriter shall cause a firm of public
accountants to furnish to the Company a letter, dated as of the
date on which the Underwriter delivers any Computational
Materials (which term shall be deemed to include, for purposes of
this paragraph (c), calculated statistical information delivered
to prospective investors in the form of a Structural Term Sheet)
to the Company pursuant to Section 8(a), in form and substance
satisfactory to the Company, stating in effect that they have
verified the mathematical accuracy of any calculations performed
by the Underwriter and set forth in such Computational Materials.
(d) The Underwriter acknowledges and agrees that any
Computational Materials or Structural Term Sheets with respect to
Series 1997-[ ] and any subsequent Series of Certificates to
which it acts as Underwriter have been prepared and disseminated
by the Underwriter and not by or on behalf of the Company, and
that such materials included and shall include a disclaimer in
form satisfactory to the Company to the effect that such
materials have been prepared and disseminated by the Underwriter,
and that the content and accuracy of such materials have not been
reviewed by the Company.
(e) If, at any time when a prospectus relating to the
Offered Certificates of a Series is required to be delivered
under the Act, it shall be necessary to amend or supplement the
related Prospectus as a result of an untrue statement of a
material fact contained in any Computational Materials or
Structural Term Sheets provided by the Underwriter pursuant to
this Section 8 or the omission to state therein a material fact
required, when considered in conjunction with the related
Prospectus and Prospectus Supplement, to be stated therein or
necessary to make the statements therein, when read in
conjunction with the related Prospectus and Prospectus
Supplement, not misleading, or if it shall be necessary to amend
or supplement any Current Report relating to any Computational
Materials or Structural Term Sheets to comply with the Act or the
rules thereunder, the Underwriter promptly will prepare and
furnish to the Company for filing with the Commission an
amendment or supplement which will correct such statement or
omission or an amendment which will effect such compliance. The
Underwriter represents and warrants to the Company, as of the
date of delivery of such amendment or supplement to the Company,
that such amendment or supplement will not include any untrue
statement of a material fact or, when read in conjunction with
the related Prospectus and Prospectus Supplement, omit to state a
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<PAGE>
material fact required to be stated therein or necessary to make
the statements therein not misleading; provided, however, that
the Underwriter makes no representation or warranty as to whether
any such amendment or supplement will include any untrue
statement resulting directly from any Mortgage Pool Error (except
any Corrected Mortgage Pool Error, with respect to any such
amendment or supplement prepared after the receipt by the
Underwriter from the Company of notice of such Corrected Mortgage
Pool Error or materials superseding or correcting such Corrected
Mortgage Pool Error). The Company shall have no obligation to
file such amendment or supplement if the Company determines that
(i) such amendment or supplement contains any untrue statement of
a material fact or, when read in conjunction with the related
Prospectus and Prospectus Supplement, omits to state a material
fact required to be stated therein or necessary to make the
statements therein not misleading; it being understood, however,
that the Company shall have no obligation to review or pass upon
the accuracy or adequacy of, or to correct, any such amendment or
supplement provided by the Underwriter to the Company pursuant to
this paragraph (e) or (ii) such filing is not required under the
Act.
9. Collateral Term Sheets. (a) Prior to the delivery
of any "Collateral Term Sheet" within the meaning of the PSA
Letter, the filing of which material is a condition of the relief
granted in such letter (such material being the "Collateral Term
Sheets"), to a prospective investor in any Offered Certificates,
the Underwriter shall, in order to facilitate the timely filing
of such material with the Commission, notify the Company and its
counsel by telephone of its intention to deliver such materials
and the approximate date on which the first such delivery of such
materials is expected to occur. Not later than 10:30 a.m., New
York time, on the business day immediately following the date on
which any Collateral Term Sheet was first delivered to a
prospective investor in such Offered Certificates, the
Underwriter shall deliver to the Company five complete copies of
all materials provided by the Underwriter to prospective
investors in the Offered Certificates that constitute "Collateral
Term Sheets." Each delivery of a Collateral Term Sheet to the
Company pursuant to this paragraph (a) shall be effected by
delivering four copies of such materials to counsel for the
Company on behalf of the Company at the address specified in
Section 3 hereof and one copy of such materials to the Company.
(Collateral Term Sheets and Structural Term Sheets are, together,
referred to herein as "ABS Term Sheets.") At the time of each
such delivery, the Underwriter shall indicate in writing that the
materials being delivered constitute Collateral Term Sheets, and,
if there has been any prior such delivery with respect to the
related Series, shall indicate whether such materials differ in
any material respect from any Collateral Term Sheets previously
delivered to the Company with respect to such Series pursuant to
this Section 9(a)
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<PAGE>
as a result of the occurrence of a material change in the
characteristics of the related Mortgage Loans.
(b) The Underwriter represents and warrants to and
agrees with the Company as of the date of the related Terms
Agreement and as of the Closing Date, that:
(i) The Collateral Term Sheets furnished to
the Company pursuant to Section 9(a) constitute all of the
materials furnished to prospective investors by the
Underwriter prior to time of delivery thereof to the
Company that are required to be filed with the Commission
as "Collateral Term Sheets" with respect to the related
Offered Certificates in accordance with the PSA Letter, and
such Collateral Term Sheets comply with the requirements of
the PSA Letter; and
(ii) On the date any such Collateral Term
Sheets with respect to such Offered Certificates were last
furnished to each prospective investor and on the date of
delivery thereof to the Company pursuant to Section 9(a)
and on the related Closing Date, such Collateral Term
Sheets did not and will not include any untrue statement of
a material fact or, when read in conjunction with the
Prospectus and Prospectus Supplement, omit to state a
material fact required to be stated therein or necessary to
make the statements therein not misleading.
Notwithstanding the foregoing, the Underwriter makes no
representation or warranty as to whether any Collateral Term
Sheet included or will include any untrue statement or material
omission resulting directly from any Mortgage Pool Error (except
any Corrected Mortgage Pool Error, with respect to materials
prepared after the receipt by the Underwriter from the Company of
notice of such Corrected Mortgage Pool Error or materials
superseding or correcting such Corrected Mortgage Pool Error).
(c) The Underwriter acknowledges and agrees that any
Collateral Term Sheets with respect to any Series of Certificates
furnished to prospective investors from and after the date hereof
will have been prepared and disseminated by the Underwriter and
not by or on behalf of the Company, and that such materials shall
include a disclaimer in form satisfactory to the Company to the
effect set forth in Section 8(d) hereof, and to the effect that
the information contained in such materials supersedes the
information contained in any prior Collateral Term Sheet with
respect to such Series of Offered Certificates and will be
superseded by the description of the related Mortgage Loans in
the related Prospectus Supplement and in the Detailed Description
relating to such Prospectus Supplement to be filed under cover of
Form 8-K. The Underwriter agrees that it will not represent to
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<PAGE>
prospective investors that any Collateral Term Sheets were
prepared or disseminated on behalf of the Company.
(d) If, at any time when a prospectus relating to the
Offered Certificates of a Series is required to be delivered
under the Act, it shall be necessary to amend or supplement the
related Prospectus as a result of an untrue statement of a
material fact contained in any Collateral Term Sheets provided by
the Underwriter pursuant to this Section 9 or the omission to
state therein a material fact required, when considered in
conjunction with the related Prospectus and Prospectus
Supplement, to be stated therein or necessary to make the
statements therein, when read in conjunction with the related
Prospectus and Prospectus Supplement, not misleading, or if it
shall be necessary to amend or supplement any Current Report
relating to any Collateral Term Sheets to comply with the Act or
the rules thereunder, the Underwriter promptly will prepare and
furnish to the Company for filing with the Commission an
amendment or supplement which will correct such statement or
omission or an amendment which will effect such compliance. The
Underwriter represents and warrants to the Company, as of the
date of delivery of such amendment or supplement to the Company,
that such amendment or supplement will not include any untrue
statement of a material fact or, when read in conjunction with
the related Prospectus and Prospectus Supplement, omit to state a
material fact required to be stated therein or necessary to make
the statements therein not misleading; provided, however, the
Underwriter makes no representation or warranty as to whether any
such amendment or supplement will include any untrue statement
resulting directly from any Mortgage Pool Error (except any
Corrected Mortgage Pool Error, with respect to any such amendment
or supplement prepared after the receipt by the Underwriter from
the Company of notice of such Corrected Mortgage Pool Error or
materials superseding or correcting such Corrected Mortgage Pool
Error). The Company shall have no obligation to file such
amendment or supplement if the Company determines that (i) such
amendment or supplement contains any untrue statement of a
material fact or, when read in conjunction with the related
Prospectus and Prospectus Supplement, omits to state a material
fact required to be stated therein or necessary to make the
statements therein not misleading; it being understood, however,
that the Company shall have no obligation to review or pass upon
the accuracy or adequacy of, or to correct, any such amendment or
supplement provided by the Underwriter to the Company pursuant to
this paragraph (d) or (ii) such filing is not required under the
Act.
10. Termination. This Agreement (with respect to a
particular Certificate Offering) and the related Terms Agreement
shall be subject to termination in the absolute discretion of the
Underwriter, by notice given to the Company prior to delivery of
and payment for the related Offered Certificates, if prior to the
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<PAGE>
related Closing Date (i) trading in securities generally on the
New York Stock Exchange shall have been suspended or materially
limited, (ii) a general moratorium on commercial banking
activities in New York shall have been declared by either federal
or New York State authorities, or (iii) there shall have occurred
any outbreak or material escalation of hostilities or other
calamity or crisis the effect of which on the financial markets
of the United States is such as to make it, in the reasonable
judgment of the Underwriter, impracticable to market such Offered
Certificates.
11. Representations and Indemnities to Survive
Delivery. The agreements, representations, warranties,
indemnities and other statements of the Company or its officers
and of the Underwriter set forth in or made pursuant to this
Agreement and the related Terms Agreement will remain in full
force and effect, regardless of any investigation made by or on
behalf of the Underwriter or the Company or any of the officers,
directors or controlling persons referred to in Section 7 hereof,
and will survive delivery of and payment for the related Offered
Certificates. The provisions of Section 7 hereof shall survive
the termination or cancellation of this Agreement and the related
Terms Agreement.
12. Successors. This Agreement and the related Terms
Agreement will inure to the benefit of and be binding upon the
parties hereto and thereto and their respective successors and
the officers, directors and controlling persons referred to in
Section 7 hereof, and their successors and assigns, and no other
person will have any right or obligation hereunder or thereunder.
No purchaser of any Offered Certificate from the Underwriter
shall be deemed a successor or assign by reason of such purchase.
13. APPLICABLE LAW. THIS AGREEMENT AND THE RELATED
TERMS AGREEMENT WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS
MADE AND TO BE PERFORMED THEREIN.
14. Miscellaneous. This Agreement, as supplemented by
the related Terms Agreement, supersedes all prior and
contemporaneous agreements and understandings relating to the
subject matter hereof. This Agreement and the related Terms
Agreement or any term of each may not be changed, waived,
discharged or terminated except by an affirmative written
agreement made by the party against whom enforcement of the
change, waiver, discharge or termination is sought. The headings
in this Agreement and the related Terms Agreement are for
purposes of reference only and shall not limit or otherwise
affect the meaning hereof or thereof.
15. Notices. All communications hereunder will be in
writing and effective only on receipt, and, if sent to the
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<PAGE>
Underwriter, will be delivered to it at the address first above
written; or if sent to the Company, will be delivered to GE
Capital Mortgage Services, Inc., Three Executive Campus, Cherry
Hill, New Jersey 08002, Attention: General Counsel.
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<PAGE>
If the foregoing is in accordance with your
understanding of our agreement, please sign and return to the
undersigned a counterpart hereof, whereupon this letter and your
acceptance shall represent a binding agreement between the
Company and the Underwriter.
Very truly yours,
GE CAPITAL MORTGAGE SERVICES, INC.
By:_______________________________
Name:
Title:
The foregoing Agreement is
hereby confirmed and accepted
as of the date first above written.
GREENWICH CAPITAL MARKETS, INC.
By:_______________________________
Name:
Title:
<PAGE>
EXHIBIT A
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES ____-__
TERMS AGREEMENT
---------------
(to Underwriting Agreement,
dated September [ ], 1997
between the Company and the Underwriter)
GE Capital Mortgage Services, Inc. New York, New York
Three Executive Campus [Date]
Cherry Hill, NJ 08002
Greenwich Capital Markets, Inc. (the "Underwriter")
agrees, subject to the terms and provisions herein and of the
captioned Underwriting Agreement (the "Underwriting Agreement"),
to purchase such Classes of Series ____-__ Certificates specified
in Section 2(a) hereof (the "Offered Certificates"). This letter
supplements and modifies the Underwriting Agreement solely as it
relates to the purchase and sale of the Offered Certificates
described below. The Series ____-__ Certificates are registered
with the Securities and Exchange Commission by means of an
effective Registration Statement (No. 33-___). Capitalized terms
used and not defined herein have the meanings given them in the
Underwriting Agreement.
Section 1. The Mortgage Pool: The Series ____-__
Certificates shall evidence the entire beneficial ownership
interest in a mortgage pool (the "Mortgage Pool") of
conventional, fixed rate, fully amortizing one- to four-family
residential mortgage loans (the "Mortgage Loans") having the
following characteristics as of ________ __, ____ (the "Cut-off
Date"):
(a) Aggregate Principal Amount of the Mortgage Pool:
$[ ] aggregate principal balance as of the Cutoff Date,
subject to [an upward or downward variance of up to [ ]%,
the precise aggregate principal balance to be determined by
the Company][a permitted variance such that the aggregate
Scheduled Principal Balance thereof will be not less than
$[ ] or greater than $[ ]].
(b) Original Terms to Maturity: The original term to
maturity of each Mortgage Loan included in the Mortgage Pool
shall be between ___ and ___ years.
A-1
<PAGE>
Section 2. The Certificates: The Offered
Certificates shall be issued as follows:
(a) Classes: The Offered Certificates shall be issued
with the following Class designations, interest rates and
principal balances, subject in the aggregate to the
variance referred to in Section 1(a)[and, as to any
particular Class, to an upward or downward variance of up
to [ ]%]:
Principal Interest Class Purchase
Class Balance Rate Price Percentage
- ----- --------- -------- ----------------
(b) The Offered Certificates shall have such other
characteristics as described in the related Prospectus.
Section 3. Purchase Price: The Purchase Price for each
Class of the Offered Certificates shall be the Class Purchase
Price Percentage therefor (as set forth in Section 2(a) above) of
the initial Class Certificates Principal Balance thereof plus
accrued interest at the rate of [ ]% per annum from and including
the Cut-off Date up to, but not including, _________ __, ____
(the "Closing Date").
Section 4. Required Ratings: The Offered
Certificates shall have received Required Ratings of at least
[ ] from [ ].
Section 5. Tax Treatment: [One or more elections
will be made to treat the assets of the Trust Fund as a REMIC.]
[The Trust Fund will be treated as a "grantor trust" for federal
income tax purposes.]
[Section 6. Additional Expenses:]*
- --------
* to be inserted if applicable.
A-2
<PAGE>
If the foregoing is in accordance with your
understanding of our agreement, please sign and return to the
undersigned a counterpart hereof, whereupon this letter and your
acceptance shall represent a binding agreement between the
Underwriter and the Company.
Very truly yours,
GREENWICH CAPITAL MARKETS, INC.
By:_______________________________
Name:
Title:
The foregoing Agreement is
hereby confirmed and accepted
as of the date first above written.
GE CAPITAL MORTGAGE SERVICES, INC.
By:_______________________________
Name:
Title:
A-3
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES 1998-14
TERMS AGREEMENT
---------------
(to Underwriting Agreement,
dated September 19, 1997,
between the Company and the Underwriter)
GE Capital Mortgage Services, Inc. New York, New York
Three Executive Campus September 23, 1998
Cherry Hill, NJ 08002
Greenwich Capital Markets, Inc. (the "Underwriter")
agrees, subject to the terms and provisions herein and of the
captioned Underwriting Agreement (the "Underwriting Agreement"),
to purchase the Classes of Series 1998-14 Certificates specified
in Section 2(a) hereof (the "Offered Certificates"). This Terms
Agreement supplements and modifies the Underwriting Agreement
solely as it relates to the purchase and sale of the Offered
Certificates described below. The Series 1998-14 Certificates are
registered with the Securities and Exchange Commission by means
of an effective Registration Statement (No. 333-51151).
Capitalized terms used and not defined herein have the meanings
given them in the Underwriting Agreement.
Section 1. The Mortgage Pool: The Series 1998-14
Certificates shall evidence the entire beneficial ownership
interest in a mortgage pool (the "Mortgage Pool") of
conventional, fixed-rate, first-lien, fully-amortizing, one- to
four-family residential mortgage loans (the "Mortgage Loans")
having the following characteristics as of September 1, 1998 (the
"Cut-off Date"):
(a) Aggregate Principal Amount of the Mortgage Pool:
$525,911,631 aggregate principal balance as of the Cut-off Date,
subject to a permitted variance such that the aggregate original
Certificate Principal Balance will be not less than $498,750,000
or greater than $551,250,000.
(b) Original Terms to Maturity: The original term to
maturity of substantially all of the Mortgage Loans included in
the Mortgage Pool shall be between 20 and 30 years.
<PAGE>
Section 2. The Certificates: The Offered Certificates
shall be issued as follows:
(a) Classes: The Offered Certificates shall be issued
with the following Class designations, interest rates and
principal balances, subject in the aggregate to the variance
referred to in Section 1(a):
Class
Principal Interest Purchase Price
Class Balance Rate Percentage
- ----- ------- ---- ----------
Class A1 $65,519,000 6.25% 99.316400%
Class A2 78,008,000 6.35% 99.316400%
Class A3 2,572,000 6.35% 99.316400%
Class A4 37,703,000 6.50% 99.316400%
Class A5 34,035,930 (2) 99.316400%
Class A6 6,302,950 (2) 99.316400%
Class A7(1) 75,000,000 (2) 99.316400%
Class A8 1,719,000 6.75% 99.316400%
Class A9 7,735,000 6.75% 99.316400%
Class A10 70,809,000 6.75% 99.316400%
Class A11 100,000,000 6.20% 99.316400%
Class A12(1) 100,000,000 6.50% 99.316400%
- ----------------------
(1) The Class A7 Certificates will consist of three
interest-only Components and one accrual Component, as
described in the Prospectus. The Class A12 Certificates will
consist of two payment Components as described in the
Prospectus. The initial Notional Component Principal
Balances of the Class A7A, Class A7B and Class A7C IO
Components are approximately $95,045,000, $80,580,000 and
$132,782,000, respectively. The initial Component Principal
Balance of the Class A7D Accrual, Class 12A TAC and Class
A12B TAC Components are approximately $75,000,000,
$4,921,000 and $95,079,000, respectively.
(2) Interest will accrue on the Class A5, Class A6 and Class A7
Certificates at the respective rates described in the
Prospectus.
(b) The Offered Certificates shall have such other
characteristics as described in the related Prospectus.
Section 3. Purchase Price: The Purchase Price for each
Class of the Offered Certificates shall be the Class Purchase
Price Percentage therefor (as set forth in Section 2(a) above) of
the initial Class Certificate Principal Balance thereof plus
accrued interest at the initial interest rate per annum from and
including the Cut-off Date up to, but not including, September
24, 1998 (the "Closing Date").
Section 4. Required Ratings: The Offered Certificates,
other than the Class A6 Certificates, shall have received
Required Ratings of at least "AAA" from Fitch IBCA, Inc.
("Fitch") and Standard & Poor's Rating Services, a division of
The McGraw-Hill Companies, Inc. ("S&P"), respectively. The Class
A6 Certificates shall have received Required Ratings of at least
"AAA" by Fitch and "AAAr" by S&P.
2
<PAGE>
Section 5. Tax Treatment: One or more elections will
be made to treat the assets of the Trust Fund as a REMIC.
3
<PAGE>
If the foregoing is in accordance with your
understanding of our agreement, please sign and return to the
undersigned a counterpart hereof, whereupon this letter and your
acceptance shall represent a binding agreement between the
Underwriter and the Company.
Very truly yours,
GREENWICH CAPITAL MARKETS, INC.
By:_______________________________
Name:
Title:
The foregoing Agreement is
hereby confirmed and accepted
as of the date hereof.
GE CAPITAL MORTGAGE SERVICES, INC.
By:_______________________________
Name:
Title:
EXECUTION
GE CAPITAL MORTGAGE SERVICES, INC.
PASS-THROUGH CERTIFICATES
(Issuable in Series)
UNDERWRITING AGREEMENT
Donaldson, Lufkin & Jenrette New York, New York
Securities Corporation March 21, 1996
277 Park Avenue
New York, New York 10172
Ladies and Gentlemen:
GE Capital Mortgage Services, Inc., a corporation
organized and existing under the laws of the State of New Jersey
(the "Company"), may offer for sale to you (the "Underwriter")
from time to time its Pass-Through Certificates evidencing
interests in pools of mortgage loans (the "Certificates"). The
Certificates may be issued in various series, and within each
series, in one or more classes, in one or more offerings on terms
determined at the time of sale (each such series, a "Series" and
each such class, a "Class"). Each Series of the Certificates will
be issued under a separate Pooling and Servicing Agreement (each,
a "Pooling and Servicing Agreement") to be dated as of the
respective cut-off date (each, a "Cut-off Date") between the
Company, as seller and servicer, and State Street Bank and Trust
Company, as trustee (the "Trustee"). Capitalized terms used but
not defined herein shall have the meanings given to them in the
related Pooling and Servicing Agreement.
The Certificates issued under each Pooling and
Servicing Agreement will represent the entire beneficial
ownership interest in a trust fund (the "Trust Fund") established
by such Pooling and Servicing Agreement. The assets of each Trust
Fund will consist primarily of a pool of conventional, fixed
rate, first lien, fully amortizing, one- to four-family
residential mortgage loans (the "Mortgage Loans") having the
original terms to maturity specified in the related Terms
Agreement referred to hereinbelow. If so specified in the related
Terms Agreement, one or more elections may be made to treat the
assets of each Trust Fund as a real estate mortgage investment
conduit (each, a "REMIC") for federal income tax purposes.
<PAGE>
Whenever the Company determines to make an offering of
Certificates (each, a "Certificate Offering") pursuant to this
Agreement through you, it will enter into an agreement with you
(the "Terms Agreement") providing for the sale of specified
Classes of Offered Certificates (as defined below) to, and the
purchase and public offering thereof by, you. Each such
Certificate Offering which the Company elects to make pursuant to
this Agreement shall be governed by this Agreement, as
supplemented by the related Terms Agreement. Each Terms
Agreement, which shall be substantially in the form of Exhibit A
hereto, shall specify, among other things, the Classes of
Certificates to be purchased by the Underwriter (the "Offered
Certificates"), the principal balance or balances of the Offered
Certificates, each subject to any stated variance, and the price
or prices at which such Offered Certificates are to be purchased
by the Underwriter from the Company.
1. Representations and Warranties. (a) The Company
represents and warrants to and agrees with the Underwriter, as of
the date of the related Terms Agreement, that:
(i) The registration statement specified
in the related Terms Agreement, on Form S-3, including
a prospectus, has been filed with the Securities and
Exchange Commission (the "Commission") for the
registration under the Securities Act of 1933, as
amended (the "Act"), of pass-through certificates
issuable in series, which registration statement has
been declared effective by the Commission. Such
registration statement, as amended to the date of the
related Terms Agreement, including any documents
incorporated by reference therein pursuant to Item 12
of Form S-3 under the Act which were filed under the
Securities Exchange Act of 1934, as amended (the
"Exchange Act"), on or before the effective date of
the Registration Statement, is hereinafter called the
"Registration Statement," and such prospectus, as such
prospectus is supplemented by a prospectus supplement
relating to the Offered Certificates of the related
Series, each in the form first filed after the date of
the related Terms Agreement pursuant to Rule 424(b)
under the Act, including any documents incorporated by
reference therein pursuant to Item 12 of Form S-3
under the Act which were filed under the Exchange Act
on or before the date of such Prospectus Supplement
(other than any such incorporated documents that
relate to Collateral Term Sheets (as defined herein))
(such prospectus supplement, including such
incorporated documents (other than those that relate
to Collateral Term Sheets), in the form first filed
after the date of the related Terms Agreement pursuant
to Rule 424(b) is
- 2 -
<PAGE>
hereinafter called the "Prospectus Supplement"), is
hereinafter called the "Prospectus". Any reference
herein to the terms "amend," "amendment" or
"supplement" with respect to the Registration
Statement, the Prospectus or the Prospectus Supplement
shall be deemed to refer to and include the filing of
any document under the Exchange Act after the
effective date of the Registration Statement or the
issue date of the Prospectus or Prospectus Supplement,
as the case may be, deemed to be incorporated therein
by reference pursuant to Item 12 of Form S-3 under the
Act.
(ii) The related Registration Statement,
at the time it became effective, and the prospectus
contained therein, and any amendments thereof and
supplements thereto filed prior to the date of the
related Terms Agreement, conformed in all material
respects to the requirements of the Act and the rules
and regulations of the Commission thereunder; on the
date of the related Terms Agreement and on each
Closing Date (as defined in Section 3 below), the
related Registration Statement and the related
Prospectus, and any amendments thereof and supplements
thereto, will conform in all material respects to the
requirements of the Act and the rules and regulations
of the Commission thereunder; such Registration
Statement, at the time it became effective, did not
contain any untrue statement of a material fact or
omit to state a material fact required to be stated
therein or necessary to make the statements therein
not misleading; such Prospectus, on the date of any
filing pursuant to Rule 424(b) and on each Closing
Date, will not include any untrue statement of a
material fact or omit to state a material fact
necessary to make the statements therein, in the light
of the circumstances under which they are made, not
misleading; and the Detailed Description referred to
in such Prospectus, on each Closing Date and the date
of any filing thereof under cover of Form 8-K, will
not include any untrue statement of a material fact or
omit to state any information which such Prospectus
states will be included in such Detailed Description;
provided, however, that the Company makes no
representations or warranties as to the information
contained in or omitted from (A) such Registration
Statement or such Prospectus (or any supplement
thereto) in reliance upon and in conformity with
written information furnished to the Company by or on
behalf of the Underwriter specifically for use in the
preparation thereof or (B) any Current Report (as
defined in Section 5(b) below), or in any amendment
thereof or supplement thereto, incorporated by
reference in such Registration Statement or such
- 3 -
<PAGE>
Prospectus (or any amendment thereof or supplement
thereto).
(iii) The Certificates of the related
Series will conform to the description thereof
contained in the related Prospectus; will each, if
rated at the time of issuance in one of the two
highest rating categories by a nationally recognized
statistical rating organization, be when issued a
"mortgage related security" as such term is defined in
Section 3(a)(41) of the Exchange Act, and will each on
the related Closing Date be duly and validly
authorized, and, when validly executed, countersigned,
issued and delivered in accordance with the related
Pooling and Servicing Agreement and sold to you as
provided herein and in the related Terms Agreement,
will each be validly issued and outstanding and
entitled to the benefits of the related Pooling and
Servicing Agreement.
(iv) Neither the issuance nor sale of the
Certificates of the related Series nor the
consummation of any other of the transactions herein
contemplated, nor the fulfillment of the terms hereof
or of the related Terms Agreement, will conflict with
any statute, order or regulation applicable to the
Company of any court, regulatory body, administrative
agency or governmental body having jurisdiction over
the Company or with any organizational document of the
Company or any instrument or any agreement under which
the Company is bound or to which it is a party.
(v) This Agreement and the related Terms
Agreement have been duly authorized, executed and
delivered by the Company.
(vi) At or prior to the related Closing
Date, the Company will have entered into the related
Pooling and Servicing Agreement and, assuming the due
authorization, execution and delivery thereof by the
Trustee, such Pooling and Servicing Agreement (on such
Closing Date) will constitute the valid and binding
agreement of the Company enforceable in accordance
with its terms, subject as to enforceability, to
bankruptcy, insolvency, reorganization or other
similar laws affecting creditors' rights and to
general principles of equity (regardless of whether
the enforceability of such Pooling and Servicing
Agreement is considered in a proceeding in equity or
at law).
2. Purchase and Sale. Subject to the execution of
the Terms Agreement for a particular Certificate Offering and
- 4 -
<PAGE>
subject to the terms and conditions and in reliance upon the
representations and warranties set forth in this Agreement and
such Terms Agreement, the Company agrees to sell to the
Underwriter, and the Underwriter agrees to purchase from the
Company, all, but not less than all, of the related Offered
Certificates at the purchase price therefor set forth in such
Terms Agreement (the "Purchase Price").
The parties hereto agree that settlement for all
securities sold pursuant to this Agreement and the applicable
Terms Agreement shall take place on the settlement date agreed
upon at the time of the related transaction and set forth as the
"Closing Date" in such Terms Agreement and not as set forth in
Rule 15c6-1(a) of the Exchange Act.
3. Delivery and Payment. Delivery of and payment for
the Offered Certificates of a Series shall be made at the offices
of Cleary, Gottlieb, Steen & Hamilton, New York, New York, at
10:00 A.M., New York City time, on the Closing Date specified in
the related Terms Agreement, which date and time may be postponed
by agreement between the Underwriter and the Company (such date
and time being herein called the "Closing Date"). Delivery of
such Offered Certificates shall be made to the Underwriter
against payment by the Underwriter of the Purchase Price thereof
to or upon the order of the Company by wire transfer in federal
or other immediately available funds or by check payable in
federal funds, as the Company shall specify no later than five
full business days prior to such Closing Date. Unless delivery is
made through the facilities of The Depository Trust Company, the
Offered Certificates shall be registered in such names and in
such authorized denominations as the Underwriter may request not
less than two full business days in advance of each Closing Date.
The Company agrees to notify the Underwriter at least
two business days before each Closing Date of the exact principal
balance evidenced by the Offered Certificates and to have such
Offered Certificates available for inspection, checking and
packaging in New York, New York, no later than 12:00 noon on the
business day prior to such Closing Date.
4. Offering by the Underwriter. It is understood that
the Underwriter proposes to offer the Offered Certificates of the
related Series for sale to the public as set forth in the related
Prospectus.
5. Agreements. The Company agrees with the
Underwriter that:
(a) The Company will cause the Prospectus as
supplemented by a Prospectus Supplement relating to the
Offered Certificates to be filed pursuant to Rule 424 under
the Act and will promptly advise the Underwriter when such
- 5 -
<PAGE>
Prospectus as so supplemented has been so filed, and prior
to the termination of the Certificate Offering to which
such Prospectus relates also will promptly advise the
Underwriter (i) when any amendment to the related
Registration Statement specifically relating to such
Offered Certificates shall have become effective or any
further supplement to such Prospectus has been filed, (ii)
of any request by the Commission for any amendment of such
Registration Statement or Prospectus or for any additional
information, (iii) of the issuance by the Commission of any
stop order suspending the effectiveness of such
Registration Statement or the institution or threatening of
any proceeding for that purpose and (iv) of the receipt by
the Company of any written notification with respect to the
suspension of the qualification of such Offered
Certificates for sale in any jurisdiction or the initiation
or threatening of any proceeding for such purpose. The
Company will not file any amendment of the related
Registration Statement or supplement to the related
Prospectus (other than any amendment or supplement
specifically relating to one or more Series of pass-through
certificates other than the Series that includes the
related Offered Certificates) unless the Company has
furnished the Underwriter with a copy for its review prior
to filing. The Company will use its best efforts to prevent
the issuance of any such stop order and, if issued, to
obtain as soon as possible the withdrawal thereof.
(b) The Company will cause any Computational
Materials and any Structural Term Sheets (each as defined
in Section 8 below) with respect to the Offered
Certificates of a Series that are delivered by the
Underwriter to the Company pursuant to Section 8 to be
filed with the Commission on a Current Report on Form 8-K
(a "Current Report") pursuant to Rule 13a-11 under the
Exchange Act on the business day immediately following the
later of (i) the day on which such Computational Materials
and Structural Term Sheets are delivered to counsel for the
Company by the Underwriter prior to 10:30 a.m. and (ii) the
date on which this Agreement is executed and delivered. The
Company will cause one Collateral Term Sheet (as defined in
Section 9 below) with respect to the Offered Certificates
of a Series that is delivered by the Underwriter to the
Company in accordance with the provisions of Section 9 to
be filed with the Commission on a Current Report pursuant
to Rule 13a-11 under the Exchange Act on the business day
immediately following the day on which such Collateral Term
Sheet is delivered to counsel for the Company by the
Underwriter prior to 10:30 a.m. In addition, if at any time
prior to the availability of the related Prospectus
Supplement the Underwriter has delivered to any prospective
investor a Collateral Term Sheet that reflects, in the
reasonable
- 6 -
<PAGE>
judgment of the Underwriter and the Company, a material
change in the characteristics of the Mortgage Loans for the
related Series from those on which a Collateral Term Sheet
with respect to the related Series previously filed with
the Commission was based, the Company will cause any such
Collateral Term Sheet that is delivered by the Underwriter
to the Company in accordance with the provisions of Section
9 to be filed with the Commission on a Current Report on
the business day immediately following the day on which
such Collateral Term Sheet is delivered to counsel for the
Company by the Underwriter prior to 10:30 a.m. In each
case, the Company will promptly advise the Underwriter when
such Current Report has been so filed. Each such Current
Report shall be incorporated by reference in the related
Prospectus and the related Registration Statement.
Notwithstanding the five preceding sentences, the Company
shall have no obligation to file any materials provided by
the Underwriter pursuant to Sections 8 and 9 which, in the
reasonable determination of the Company after making
reasonable efforts to consult with the Underwriter, are not
required to be filed pursuant to the Kidder Letters or the
PSA Letter (each as defined in Section 8 below), or which
contain erroneous information or contain any untrue
statement of a material fact or, when read in conjunction
with the Prospectus and Prospectus Supplement, omit to
state a material fact required to be stated therein or
necessary to make the statements therein not misleading; it
being understood, however, that the Company shall have no
obligation to review or pass upon the accuracy or adequacy
of, or to correct, any Computational Materials, Structural
Term Sheets or Collateral Term Sheets provided by the
Underwriter to the Company pursuant to Section 8 or Section
9 hereof.
(c) If, at any time when a prospectus relating to
the Offered Certificates of a Series is required to be
delivered under the Act, any event occurs as a result of
which the related Prospectus as then amended or
supplemented would include any untrue statement of a
material fact or omit to state any material fact necessary
to make the statements therein in light of the
circumstances under which they were made not misleading, or
if it shall be necessary at any time to amend or supplement
the related Prospectus to comply with the Act or the rules
thereunder, the Company promptly will prepare and file with
the Commission, subject to paragraph (a) of this Section 5,
an amendment or supplement which will correct such
statement or omission or an amendment which will effect
such compliance; provided, however, that the Company will
not be required to file any such amendment or supplement
with respect to any Computational Materials, Structural
Term Sheets or Collateral Term Sheets incorporated by
reference in the
- 7 -
<PAGE>
Prospectus other than any amendments or supplements of such
Computational Materials or Structural Term Sheets that are
furnished to the Company by the Underwriter pursuant to
Section 8(d) hereof or any amendments or supplements of
such Collateral Term Sheets that are furnished to the
Company by the Underwriter pursuant to Section 9(d) hereof
which the Company determines to file in accordance
therewith.
(d) The Company will furnish to the Underwriter
and counsel for the Underwriter, without charge, as many
signed copies of the related Registration Statement
(including exhibits thereto) and, so long as delivery of a
prospectus by the Underwriter or dealer may be required by
the Act, as many copies of the related Prospectus and any
supplements thereto (other than exhibits to the related
Current Report) as the Underwriter may reasonably request.
(e) The Company will furnish such information,
execute such instruments and take such actions as may be
reasonably requested by the Underwriter to qualify the
Offered Certificates of a Series for sale under the laws of
such jurisdictions as the Underwriter may designate, to
maintain such qualifications in effect so long as required
for the distribution of such Offered Certificates and to
determine the legality of such Offered Certificates for
purchase by institutional investors; provided, however,
that the Company shall not be required to qualify to do
business in any jurisdiction where it is not qualified on
the date of the related Terms Agreement or to take any
action which would subject it to general or unlimited
service of process in any jurisdiction in which it is not,
on the date of the related Terms Agreement, subject to such
service of process.
(f) So long as the Offered Certificates of a
Series are outstanding, the Company will furnish to the
Underwriter copies of the annual independent public
accountants' servicing report furnished to the Trustee
pursuant to Section 3.13 of the related Pooling and
Servicing Agreement.
(g) Whether or not the transactions contemplated
hereby and by the related Terms Agreement shall be
consummated, the Company shall be responsible for the
payment of any costs and expenses for which details are
submitted, in connection with the performance of its
obligations under this Agreement and the related Terms
Agreement, including, without limitation, (a) the cost and
expenses of printing or otherwise reproducing the related
Registration Statement or Prospectus, this Agreement, the
related Terms Agreement, the related Pooling and Servicing
Agreement and the Offered Certificates, and (b) the cost of
delivering the related Offered Certificates to the office
of
- 8 -
<PAGE>
the Underwriter, insured to the satisfaction of the
Underwriter (it being understood that, except as provided
in this paragraph (f) and in Section 7 hereof, the
Underwriter will pay all its own costs and expenses,
including the fees of Brown & Wood, counsel for the
Underwriter, transfer taxes on resale of any Offered
Certificates by it, advertising expenses connected with any
offers that it may make, the fees of KPMG Peat Marwick LLP
with respect to its letters furnished pursuant to Section
6(i) of the Agreement and any letter furnished pursuant to
the last sentence of Section 6(h) hereof and any other
costs and expenses specified in the related Terms Agreement
as "Additional Expenses").
6. Conditions to the Obligations of the Underwriter.
The obligations of the Underwriter to purchase the Offered
Certificates of any Series shall be subject to the accuracy in
all material respects of the representations and warranties on
the part of the Company contained in this Agreement, as
supplemented by the related Terms Agreement, as of the respective
dates thereof and the related Closing Date, to the accuracy of
the statements of the Company made in any applicable officers'
certificates pursuant to the provisions hereof, to the
performance by the Company of its obligations under this
Agreement and such Terms Agreement and to the following
additional conditions applicable to the related Certificate
Offering:
(a) No stop order suspending the effectiveness of
the related Registration Statement shall have been issued
and no proceedings for that purpose shall have been
instituted or threatened.
(b) Cleary, Gottlieb, Steen & Hamilton, counsel
for the Company, shall have furnished to the Underwriter an
opinion, dated the related Closing Date, to the effect
that:
(i) this Agreement and the related Terms
Agreement have been duly executed and delivered by the
Company under the law of the State of New York;
(ii) the related Pooling and Servicing
Agreement has been duly executed and delivered by the
Company under the law of the State of New York and is
a legal, valid and binding agreement of the Company
enforceable against the Company in accordance with its
terms;
(iii) the Offered Certificates, when duly
executed and countersigned by the Trustee in
accordance with the related Pooling and Servicing
Agreement, will be validly issued and outstanding and
entitled to the benefits of such Pooling and Servicing
Agreement;
- 9 -
<PAGE>
(iv) the related Pooling and Servicing
Agreement is not required to be qualified under the
Trust Indenture Act of 1939, as amended, and the trust
created thereunder is not required to be registered
under the Investment Company Act of 1940, as amended;
(v) such counsel confirms that (based
solely upon telephone confirmation from a
representative of the Commission) the related
Registration Statement is effective under the Act and,
to the best of such counsel's knowledge, no stop order
with respect thereto has been issued, and no
proceeding for that purpose has been instituted or
threatened by the Commission; such Registration
Statement (except the financial statements and
schedules and other financial and statistical data
included therein and the documents incorporated by
reference therein, as to which such counsel need
express no view), at the time it became effective and
the related Prospectus (except the financial
statements and schedules and the other financial and
statistical data included therein, the documents
incorporated by reference therein and the information
included in the second sentence of the antepenultimate
paragraph, the first sentence of the penultimate
paragraph, and the last paragraph of the cover page of
such Prospectus Supplement and in the second and
fourth sentences of the first paragraph under the
heading "Plan of Distribution" therein, as to which
such counsel need express no view), as of the date of
the Prospectus Supplement appeared on their face to be
appropriately responsive in all material respects to
the requirements of the Act and the rules and
regulations thereunder; and no information has come to
the attention of such counsel that causes it to
believe that (A) such Registration Statement (except
the financial statements and schedules and the other
financial and statistical data included therein and
the documents incorporated by reference therein, as to
which such counsel need express no view) at the time
it became effective, contained an untrue statement of
a material fact or omitted to state a material fact
required to be stated therein or necessary to make the
statements therein not misleading or (B) such
Prospectus or any amendment or supplement thereto
(except the financial statements and schedules and the
other financial and statistical data included therein,
the documents incorporated by reference therein and
the information included in the second sentence of the
antepenultimate paragraph, the first sentence of the
penultimate paragraph, and the last paragraph of the
cover page of such Prospectus Supplement and in the
second and fourth sentences of the first paragraph
- 10 -
<PAGE>
under the heading "Plan of Distribution" therein, as
to which such counsel need express no view), as of the
date of the Prospectus Supplement, or at the related
Closing Date, contained or contains an untrue
statement of a material fact or omitted or omits to
state a material fact necessary in order to make the
statements therein, in the light of the circumstances
under which they were made, not misleading;
(vi) the statements set forth under the
heading "Description of the Certificates" in the
related Prospectus, insofar as such statements purport
to summarize certain provisions of the related Pooling
and Servicing Agreement and the related Offered
Certificates, provide a fair summary of such
provisions;
(vii) the statements set forth in the
related Prospectus under the headings "Certain Legal
Aspects of the Mortgage Loans and Contracts -- The
Mortgage Loans", "Certain Federal Income Tax
Consequences" (insofar as they relate specifically to
the purchase, ownership and disposition of the related
Offered Certificates) and "ERISA Considerations"
(insofar as they relate specifically to the purchase,
ownership and disposition of such Offered
Certificates), to the extent that they constitute
matters of law or legal conclusions, provide a fair
summary of such law or conclusions;
(viii) assuming compliance with all
provisions of the related Pooling and Servicing
Agreement, for federal income tax purposes, (A) if any
election is made to treat the assets of the Trust Fund
as a REMIC: the related Trust Fund (and any specified
subgrouping therein) will qualify as a REMIC pursuant
to Section 860D of the Internal Revenue Code of 1986,
as amended (the "Code"), each Class of Certificates of
the related Series, other than the related Residual
Class or Classes, will constitute a class of "regular
interests" in the related REMIC within the meaning of
the Code, and each Class of such Certificates
specified in the related Prospectus as a Class of
Residual Certificates will constitute the "residual
interest" in the related REMIC within the meaning of
the Code; (B) if no such REMIC election is made: the
Trust Fund will be treated as a "grantor trust"; and
(ix) assuming that some or all of the
Offered Certificates of the related Series shall be
rated at the time of issuance in one of the two
highest rating categories by a nationally recognized
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statistical rating organization, each Offered
Certificate so rated will be at the time of issuance,
a "mortgage related security" as such term is defined
in Section 3(a)(41) of the Exchange Act.
Such opinion may express its reliance as to factual matters
on the representations and warranties made by, and on
certificates or other documents furnished by, officers of
the parties to this Agreement, the related Terms Agreement
or the related Pooling and Servicing Agreement. Such
opinion may assume the due authorization, execution and
delivery of the instruments and documents referred to
therein by the parties thereto other than the Company. Such
opinion may be qualified, insofar as it concerns the
enforceability of the documents referred to therein, to the
extent that such enforceability may be limited by
bankruptcy, insolvency, reorganization or other similar
laws affecting the enforcement of creditors' rights in
general and by general equity principles (regardless of
whether such enforcement is considered in a proceeding in
equity or at law). Such opinion may be further qualified as
expressing no opinion as to (x) the statements in the
related Prospectus under the heading "Certain Legal Aspects
of the Mortgage Loans and Contracts -- The Mortgage Loans"
except insofar as such statements relate to the laws of the
State of New York and the laws of the United States, and
(y) the statements in such Prospectus under the headings
"ERISA Considerations" and "Certain Federal Income Tax
Consequences" except insofar as such statements relate to
the laws of the United States. In addition, such opinion
may be qualified as an opinion only on the laws of the
State of New York and the federal laws of the United States
of America.
(c) The General Counsel for the Company shall
have furnished to the Underwriter an opinion, dated the
related Closing Date, to the effect that:
(i) The Company has been duly
incorporated and is validly existing as a corporation
in good standing under the laws of the State of New
Jersey, with corporate power to own its properties, to
conduct its business as described in the related
Prospectus and to enter into and perform its
obligations under this Agreement, the related Terms
Agreement, the related Pooling and Servicing Agreement
and the Certificates of the related Series;
(ii) The Company has full power and
authority to sell and service the related Mortgage
Loans as contemplated herein and in the related
Pooling and Servicing Agreement;
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<PAGE>
(iii) No consent, approval, authorization
or order of any court or governmental agency or body
is required for the consummation by the Company of the
transactions contemplated herein or in the related
Pooling and Servicing Agreement, except such as may be
required under the blue sky laws of any jurisdiction
and such other approvals as have been obtained;
(iv) Neither the issuance of the
Certificates of the related Series nor delivery of the
related Offered Certificates, nor the consummation of
any other of the transactions contemplated in this
Agreement, the related Terms Agreement or the related
Pooling and Servicing Agreement, nor the fulfillment
of the terms of the related Certificates, the related
Pooling and Servicing Agreement, this Agreement or the
related Terms Agreement will conflict with or violate
any term or provision of the articles of incorporation
or by-laws of the Company or any statute, order or
regulation applicable to the Company of any court,
regulatory body, administrative agency or governmental
body having jurisdiction over the Company and will not
conflict with, result in a breach or violation or the
acceleration of or constitute a default under the
terms of any indenture or other agreement or
instrument known to such counsel to which the Company
is a party or by which it is bound; and
(v) There are no actions, proceedings or
investigations pending or, to the best knowledge of
such counsel, threatened before any court,
administrative agency or other tribunal (i) asserting
the invalidity of this Agreement, the related Terms
Agreement, the related Pooling and Servicing Agreement
or the related Certificates, (ii) seeking to prevent
the issuance of the Certificates of the related Series
or the consummation by the Company of any of the
transactions contemplated by this Agreement, such
Terms Agreement or such Pooling and Servicing
Agreement, or (iii) which might materially and
adversely affect the performance by the Company of its
obligations under, or the validity or enforceability
of, this Agreement, such Terms Agreement, such Pooling
and Servicing Agreement or the related Certificates.
In rendering her opinion such counsel may rely as to
matters of fact, to the extent deemed proper and as stated
therein, on certificates of responsible officers of the
Company or public officials. In addition, such opinion may
be qualified as an opinion only on the laws of the State of
New Jersey.
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<PAGE>
(d) The Underwriter shall have received from
Brown & Wood, counsel for the Underwriter, such opinion or
opinions, dated the related Closing Date, with respect to
the issuance and sale of the Certificates of the related
Series, the related Registration Statement, the related
Prospectus and such other related matters as the
Underwriter may reasonably require, and the Company shall
have furnished to such counsel such documents as the
Underwriter may reasonably request for the purpose of
enabling them to pass upon such matters.
(e) The Company shall have furnished to the
Underwriter a certificate of the Company, signed by the
President or any Vice President and the Senior Vice
President-Finance or the principal financial or accounting
officer of the Company, dated the related Closing Date, to
the effect that the signers of such certificate have
carefully examined the related Registration Statement
(excluding any Current Reports and any other documents
incorporated by reference therein), the related Prospectus,
the Detailed Description referred to in such Prospectus
(excluding any related Current Report), this Agreement and
the related Terms Agreement and that:
(i) the representations and warranties of
the Company in this Agreement are true and correct in
all material respects on and as of the related Closing
Date with the same effect as if made on such Closing
Date, and the Company has complied with all the
agreements and satisfied all the conditions on its
part to be performed or satisfied at or prior to such
Closing Date;
(ii) no stop order suspending the
effectiveness of such Registration Statement has been
issued and no proceedings for that purpose have been
instituted or, to their knowledge, threatened; and
(iii) nothing has come to their attention
that would lead them to believe that such Registration
Statement (excluding any Current Report) contains any
untrue statement of a material fact or omits to state
any material fact required to be stated therein or
necessary to make the statements therein not
misleading, that the related Prospectus (excluding any
related Current Report) contains any untrue statement
of a material fact or omits to state a material fact
required to be stated therein or necessary to make the
statements therein, in the light of the circumstances
under which they were made, not misleading, or that
the Detailed Description referred to in such
Prospectus includes any untrue statement of a material
fact or
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<PAGE>
omits to state any information which the Prospectus
states will be included in such Detailed Description.
(f) Peabody & Arnold, counsel for the Trustee,
shall have furnished to the Underwriter an opinion, dated
the related Closing Date, to the effect that:
(i) the Trustee has been duly
incorporated and is validly existing as a corporation
in good standing under the laws of the Commonwealth of
Massachusetts with corporate power to own its
properties and conduct its business as presently
conducted by it, to conduct business as a trustee and
to enter into and perform its obligations under the
related Pooling and Servicing Agreement;
(ii) the related Pooling and Servicing
Agreement has been duly authorized, executed and
delivered by the Trustee and constitutes the legal,
valid and binding agreement of the Trustee enforceable
against the Trustee in accordance with its terms,
subject to bankruptcy, insolvency, fraudulent
conveyance, reorganization or other similar laws
affecting the enforcement of creditors' rights
generally and to judicial discretion, and general
principles of equity (regardless of whether
enforcement is sought in a proceeding in equity or at
law);
(iii) the Trustee has duly accepted its
appointment as trustee under the related Pooling and
Servicing Agreement;
(iv) no consent, approval, authorization
or order of any Massachusetts or federal court or
government agency or body is required on the part of
the Trustee for the consummation of the transactions
contemplated in the related Pooling and Servicing
Agreement, except such as may be required under any
federal or state securities law; and
(v) the performance on the part of the
Trustee of any of the transactions contemplated in the
related Pooling and Servicing Agreement does not
conflict with or result in a breach or violation of
any term or provision of, or constitute a default
under, the Articles of Organization, as amended, or
By-Laws of the Trustee, or any Massachusetts or
federal statute or regulation applicable to the
Trustee, or to such counsel's knowledge, any indenture
or other agreement or instrument to which the Trustee
is a party or by which it is bound, or, to such
counsel's knowledge, any order of any state or federal
court, regulatory body,
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<PAGE>
administrative agency or governmental body having
jurisdiction over the Trustee.
In addition, such counsel shall furnish to the Underwriter
such opinions as to the treatment of the Trust Fund for
purposes of Massachusetts tax law as are reasonably
satisfactory to the Underwriter.
(g) KPMG Peat Marwick LLP shall have furnished to
the Underwriter a letter, dated as of the date of the
related Terms Agreement, in form and substance satisfactory
to the Underwriter, stating in effect that they have
performed certain specified procedures as a result of which
they have determined that such information as the
Underwriter may reasonably request of an accounting,
financial or statistical nature (which is limited to
accounting, financial or statistical information derived
from the general accounting records of the Company) set
forth in the related Prospectus Supplement under the
caption "Delinquency and Foreclosure Experience of the
Company" agrees with the accounting records of the Company,
excluding any questions of legal interpretation.
(h) KPMG Peat Marwick LLP shall have furnished to
the Underwriter a letter, dated as of the related Closing
Date, in form and substance satisfactory to the
Underwriter, stating in effect that they have performed
certain specified procedures as a result of which they have
determined that such information as the Underwriter may
reasonably request of an accounting, financial or
statistical nature (which is limited to accounting,
financial or statistical information derived from the
general accounting records of the Company and which is
obtained from an analysis of a sample of the Mortgage Loans
included in the related pool) set forth in the related
Prospectus Supplement under the caption "Description of the
Mortgage Pool and the Mortgaged Properties" or "Description
of the Mortgage Pools and the Mortgaged Properties", as the
case may be, and in the Detailed Description relating to
such Prospectus Supplement is mutually consistent and
agrees with the accounting records of the Company and,
where applicable, the related Mortgage Loan files of the
Company, excluding any questions of legal interpretation.
In addition, if applicable, such accountants shall have
furnished to the Underwriter a letter, dated as of the
related Closing Date, which shall include a statement or
statements to the effect that based upon the assumptions
and methodology agreed to by the Company (and which is
consistent with the manner in which any final PAC Balances,
TAC Balances, Scheduled Balances, Maximum and Minimum
Scheduled Balances or any other scheduled balances are to
be calculated as set forth in the related Prospectus), all
of which shall be described by
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<PAGE>
reference in such letter, such accountants shall have
verified the mathematical accuracy of any final PAC
Balances Table, TAC Balances Table, Scheduled Balances
Table, Maximum or Minimum Scheduled Balances Table or other
scheduled balances table attached as an exhibit to the
related Pooling
and Servicing Agreement.
(i) KPMG Peat Marwick LLP shall have furnished to
the Underwriter and the Company a letter or letters, dated
as of the date of the related Terms Agreement, in form and
substance satisfactory to the Underwriter and the Company,
including, without limitation, statements, if applicable,
to the effect that:
(i) based upon the assumptions and
methodology set forth in the related Prospectus, all
of which shall be described by reference in such
letter, they recomputed the percentages of initial
principal balance outstanding as of each of the
Distribution Dates (as defined in such Prospectus)
indicated and the weighted average lives of each Class
of Offered Certificates at each of the indicated
percentages of the applicable Prepayment Assumption,
and they compared the recomputed percentages and
weighted average lives to the corresponding
percentages and weighted average lives set forth in
the related tables and found them to be in agreement;
(ii) based upon the assumptions and
methodology set forth in such Prospectus, all of which
shall be described by reference in such letter, they
have verified the mathematical accuracy of any
Scheduled Final Distribution Dates for the Offered
Certificates, PAC Balances, TAC Balances, Scheduled
Balances, Maximum and Minimum Scheduled Balances or
any other scheduled balances set forth in such
Prospectus for each indicated Distribution Date, and
have verified the mathematical accuracy of any initial
Effective Ranges of any PAC Certificates, Scheduled
Certificates or other scheduled Certificates set forth
in such Prospectus; and
(iii) based upon the assumptions and
methodology set forth in such Prospectus, all of which
shall be described by reference in such letter, they
have verified the mathematical accuracy of the pre-tax
yields to maturity and, if applicable, aggregate cash
flows of any Class of Certificates for which such
pre-tax yields and, if applicable, aggregate cash
flows are set forth in such Prospectus at the
indicated percentages of the Prepayment Assumption
and, if
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<PAGE>
applicable, at the indicated values of COFI, LIBOR or
any other index, as applicable.
(j) The Offered Certificates of the related
Series shall have received the ratings specified in the
related Terms Agreement (the "Required Ratings").
(k) Prior to the related Closing Date, the
Company shall have furnished to the Underwriter such
further information, certificates and documents as the
Underwriter may reasonably request.
(l) If any Certificates of the related Series are
to be sold to any other underwriter and/or offered in
reliance upon an exemption from the registration
requirements of the Act, the sale at or prior to the
related Closing Date of such Certificates to the purchaser
thereof shall have occurred.
(m) Subsequent to the date of the related Terms
Agreement, there shall not have been any change, or any
development involving a prospective change, in or affecting
the business or properties of the Company which the
Underwriter concludes in its judgment, after consultation
with the Company, materially impairs the investment quality
of the Offered Certificates of the related Series so as to
make it impractical or inadvisable to proceed with the
public offering or the delivery of such Offered
Certificates as contemplated by the related Prospectus.
If any of the conditions specified in this Section 6
shall not have been fulfilled in all material respects with
respect to the particular Offered Certificates of a Series when
and as provided in this Agreement and the related Terms
Agreement, or if any of the opinions and certificates mentioned
above or elsewhere in this Agreement and the related Terms
Agreement shall not be in all material respects reasonably
satisfactory in form and substance to the Underwriter and its
counsel, this Agreement (with respect to the related Offered
Certificates) and the related Terms Agreement and all obligations
of the Underwriter hereunder (with respect to the related Offered
Certificates) and thereunder may be canceled at, or at any time
prior to, the related Closing Date by the Underwriter. Notice of
such cancellation shall be given to the Company in writing, or by
telephone or telegraph confirmed in writing.
7. Indemnification and Contribution. (a) The Company
agrees to indemnify and hold harmless the Underwriter and each
person who controls the Underwriter within the meaning of the Act
or the Exchange Act against any and all losses, claims, damages
or liabilities, joint or several, to which they or any of them
may become subject under the Act, the Exchange Act, or other
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<PAGE>
Federal or state statutory law or regulation, at common law or
otherwise, insofar as such losses, claims, damages or liabilities
(or actions in respect thereof) arise out of or are based upon
any untrue statement or alleged untrue statement of a material
fact contained in the Registration Statement relating to the
Offered Certificates of the applicable Series as it became
effective or in any amendment or supplement thereof, or in such
Registration Statement or the related Prospectus, or in any
amendment thereof, or in the Detailed Description referred to in
such Prospectus or arise out of or are based upon the omission or
alleged omission (in the case of any Computational Materials and
ABS Term Sheets (as defined in Section 9 below) in respect of
which the Company agrees to indemnify the Underwriter, as set
forth below, when such are read in conjunction with the related
Prospectus and Prospectus Supplement) to state therein a material
fact required to be stated therein or necessary to make the
statements therein not misleading, and agrees to reimburse each
such indemnified party for any legal or other expenses reasonably
incurred by them in connection with investigating or defending
any such loss, claim, damage, liability or action; provided,
however, that (i) the Company will not be liable in any such case
to the extent that any such loss, claim, damage or liability
arises out of or is based upon any such untrue statement or
alleged untrue statement or omission or alleged omission made
therein (A) in reliance upon and in conformity with written
information furnished to the Company as herein stated by or on
behalf of the Underwriter specifically for use in connection with
the preparation thereof or (B) in any Current Report or any
amendment or supplement thereof, except to the extent that any
untrue statement or alleged untrue statement therein or omission
therefrom results (or is alleged to have resulted) directly from
an error (a "Mortgage Pool Error") in the information concerning
the characteristics of the Mortgage Loans furnished by the
Company to the Underwriter in writing or by electronic
transmission that was used in the preparation of either (x) any
Computational Materials or ABS Term Sheets (or amendments or
supplements thereof) included in such Current Report (or
amendment or supplement thereof) or (y) any written or electronic
materials furnished to prospective investors on which the
Computational Materials (or amendments or supplements) were
based, (ii) such indemnity with respect to any Corrected
Statement (as defined below) in such Prospectus (or supplement
thereto) shall not inure to the benefit of the Underwriter (or
any person controlling the Underwriter) from whom the person
asserting any loss, claim, damage or liability purchased the
Certificates of the related Series that are the subject thereof
if such person did not receive a copy of a supplement to such
Prospectus at or prior to the confirmation of the sale of such
Certificates and the untrue statement or omission of a material
fact contained in such Prospectus (or supplement thereto) was
corrected (a "Corrected Statement") in such other supplement and
such supplement was furnished by the Company to the Underwriter
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<PAGE>
prior to the delivery of such confirmation, and (iii) such
indemnity with respect to any Mortgage Pool Error shall not inure
to the benefit of the Underwriter (or any person controlling the
Underwriter) from whom the person asserting any loss, claim,
damage or liability received any Computational Materials or ABS
Term Sheets (or any written or electronic materials on which the
Computational Materials are based) that were prepared on the
basis of such Mortgage Pool Error, if, prior to the time of
confirmation of the sale of the applicable Certificates to such
person, the Company notified the Underwriter in writing of the
Mortgage Pool Error or provided in written or electronic form
information superseding or correcting such Mortgage Pool Error
(in any such case, a "Corrected Mortgage Pool Error"), and the
Underwriter failed to notify such person thereof or to deliver to
such person corrected Computational Materials (or underlying
written or electronic materials) or ABS Term Sheets. This
indemnity agreement will be in addition to any liability which
the Company may otherwise have.
(b) The Underwriter agrees to indemnify and hold
harmless the Company, each of its directors, each of its officers
who signs the Registration Statement relating to the Offered
Certificates of the applicable Series, and each person who
controls the Company within the meaning of the Act or the
Exchange Act to the same extent as the foregoing indemnities from
the Company to the Underwriter, but only with reference to (A)
written information furnished to the Company by or on behalf of
the Underwriter specifically for use in the preparation of the
documents referred to in the foregoing indemnity with respect to
the related Series, or (B) any Computational Materials or ABS
Term Sheets (or amendments or supplements thereof) furnished to
the Company by the Underwriter pursuant to Section 8 or Section 9
and incorporated by reference in such Registration Statement or
the related Prospectus or any amendment or supplement thereof
(except that no such indemnity shall be available for any losses,
claims, damages or liabilities, or actions in respect thereof
resulting from any Mortgage Pool Error, other than a Corrected
Mortgage Pool Error). This indemnity agreement will be in
addition to any liability which the Underwriter may otherwise
have. The Company acknowledges that the statements set forth in
the second sentence of the ante-penultimate paragraph, the first
sentence of the penultimate paragraph, and in the last paragraph
appearing on the cover page of the related Prospectus Supplement
as such statements relate to such Offered Certificates and the
second sentence of the first paragraph under the heading "Plan of
Distribution" in such Prospectus Supplement as such statements
relate to such Offered Certificates constitute the only
information furnished in writing by or on behalf of the
Underwriter for inclusion in the related Prospectus (other than
any Computational Materials or ABS Term Sheets (or amendments or
supplements thereof) furnished to the Company by the
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<PAGE>
Underwriter), and the Underwriter confirms that such statements
are correct.
(c) Promptly after receipt by an indemnified party
under Section 7 of notice of the commencement of any action, such
indemnified party will, if a claim in respect thereof is to be
made against the indemnifying party under this Section 7, notify
the indemnifying party in writing of the commencement thereof;
but the omission so to notify the indemnifying party will not
relieve it from any liability which it may have to any
indemnified party otherwise than under this Section 7. In case
any such action is brought against any indemnified party, and it
notifies the indemnifying party of the commencement thereof, the
indemnifying party will be entitled to participate therein, and
to the extent that it may elect by written notice delivered to
the indemnified party promptly after receiving the aforesaid
notice from such indemnified party, to assume the defense
thereof, with counsel satisfactory to such indemnified party;
provided, however, that if the defendants in any such action
include both the indemnified party and the indemnifying party and
the indemnified party shall have reasonably concluded that there
may be legal defenses available to it and/or other indemnified
parties which are different from or additional to those available
to the indemnifying party, the indemnified party or parties shall
have the right to select separate counsel to assert such legal
defenses and to otherwise participate in the defense of such
action on behalf of such indemnified party or parties. Upon
receipt of notice from the indemnifying party to such indemnified
party of its election so to assume the defense of such action and
approval by the indemnified party of counsel, the indemnifying
party will not be liable to such indemnified party under this
Section 7 for any legal or other expenses subsequently incurred
by such indemnified party in connection with the defense thereof
unless (i) the indemnified party shall have employed separate
counsel in connection with the assertion of legal defenses in
accordance with the proviso to the next preceding sentence (it
being understood, however, that the indemnifying party shall not
be liable for the expenses of more than one separate counsel
approved by the indemnified party in the case of subparagraph (a)
or (b), representing the indemnified parties under subparagraph
(a) or (b), who are parties to such action), (ii) the
indemnifying party shall not have employed counsel satisfactory
to the indemnified party to represent the indemnified party
within a reasonable time after notice of commencement of the
action or (iii) the indemnifying party has authorized the
employment of counsel for the indemnified party at the expense of
the indemnifying party; and except that, if clause (i) or (iii)
is applicable, such liability shall be only in respect of the
counsel referred to in such clause (i) or (iii).
(d) If the indemnification provided for in paragraph
(a) or (b) of this Section 7 is due in accordance with its terms
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<PAGE>
but is for any reason held by a court to be unavailable from the
Company or the Underwriter, on grounds of policy or otherwise, or
if the indemnified party failed to give notice under paragraph
(c) of this Section 7 in respect of a claim otherwise subject to
indemnification in accordance with paragraph (a) or (b) of this
Section 7, the Company and the Underwriter shall contribute to
the aggregate losses, claims, damages and liabilities (including
legal and other expenses reasonably incurred in connection with
investigating or defending same) to which the Company and the
Underwriter may be subject, as follows:
(i) in the case of any losses, claims, damages and
liabilities (or actions in respect thereof) which do not
arise out of or are not based upon any untrue statement or
omission of a material fact in any Computational Materials
or ABS Term Sheets (or any amendments or supplements
thereof), in such proportion so that the Underwriter is
responsible for that portion represented by the difference
between the proceeds to the Company in respect of the
Offered Certificates appearing on the cover page of the
Prospectus Supplement for the related Series and the total
proceeds received by the Underwriter from the sale of such
Offered Certificates (the "Underwriting Discount"), and the
Company is responsible for the balance; provided, however,
that in no case shall the Underwriter be responsible under
this subparagraph (i) for any amount in excess of such
Underwriting Discount applicable to the Offered
Certificates purchased by the Underwriter pursuant to this
Agreement and the related Terms Agreement; and
(ii) in the case of any losses, claims, damages and
liabilities (or actions in respect thereof) which arise out
of or are based upon any untrue statement or omission of a
material fact in any Computational Materials or ABS Term
Sheets (or any amendments or supplements thereof) or in any
written or electronic materials on which the Computational
Materials are based, in such proportion as is appropriate
to reflect the relative fault of the Company on the one
hand and the Underwriter on the other in connection with
the statements or omissions which resulted in such losses,
claims, damages or liabilities (or actions in respect
thereof) as well as any other relevant equitable
considerations. The relative fault shall be determined by
reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission
or alleged omission to state a material fact in such
Computational Materials or ABS Term Sheets (or any
amendments or supplements thereof or such written or
electronic materials) results from information prepared by
the Company on the one hand or the Underwriter on the other
and the parties' relative intent, knowledge, access to
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<PAGE>
information and opportunity to correct or prevent such
statement or omission.
Notwithstanding anything to the contrary in this Section 7(d), no
person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Act) shall be entitled to contribution
from any person who was not guilty of such fraudulent
misrepresentation. For purposes of this Section 7, each person
who controls the Underwriter within the meaning of either the Act
or the Exchange Act shall have the same rights to contribution as
the Underwriter, and each person who controls the Company within
the meaning of either the Act or the Exchange Act, each officer
of the Company who shall have signed the Registration Statement
and each director of the Company shall have the same rights to
contribution as the Company, subject in each case to the
immediately preceding sentence of this paragraph (d).
8. Computational Materials and Structural Term Sheets.
(a) Not later than 10:30 a.m., New York time, on the business day
before the date on which the Current Report relating to the
Offered Certificates of a Series is required to be filed by the
Company with the Commission pursuant to Section 5(b) hereof, the
Underwriter shall deliver to the Company five complete copies of
all materials provided by the Underwriter to prospective
investors in such Offered Certificates which constitute (i)
"Computational Materials" within the meaning of the no-action
letter dated May 20, 1994 issued by the Division of Corporation
Finance of the Commission to Kidder, Peabody Acceptance
Corporation I, Kidder, Peabody & Co. Incorporated, and Kidder
Structured Asset Corporation and the no-action letter dated May
27, 1994 issued by the Division of Corporation Finance of the
Commission to the Public Securities Association (together, the
"Kidder Letters"), the filing of which material is a condition of
the relief granted in such letter (such materials being the
"Computational Materials"), and (ii) "Structural Term Sheets"
within the meaning of the no-action letter dated February 17,
1995 issued by the Division of Corporation Finance of the
Commission to the Public Securities Association (the "PSA
Letter"), the filing of which material is a condition of the
relief granted in such letter (such materials being the
"Structural Term Sheets"). Each delivery of Computational
Materials and Structural Term Sheets to the Company pursuant to
this paragraph (a) shall be effected by delivering four copies of
such materials to counsel for the Company on behalf of the
Company at the address specified in Section 3 hereof and one copy
of such materials to the Company.
(b) The Underwriter represents and warrants to and
agrees with the Company, as of the date of the related Terms
Agreement and as of the Closing Date, that:
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(i) the Computational Materials furnished to the
Company pursuant to Section 8(a) constitute (either in
original, aggregated or consolidated form) all of the
materials furnished to prospective investors by the
Underwriter prior to the time of delivery thereof to
the Company that are required to be filed with the
Commission with respect to the related Offered
Certificates in accordance with the Kidder Letters,
and such Computational Materials comply with the
requirements of the Kidder Letters;
(ii) the Structural Term Sheets furnished to the
Company pursuant to Section 8(a) constitute all of the
materials furnished to prospective investors by the
Underwriter prior to the time of delivery thereof to
the Company that are required to be filed with the
Commission as "Structural Term Sheets" with respect to
the related Offered Certificates in accordance with
the PSA Letter, and such Structural Term Sheets comply
with the requirements of the PSA Letter;
(iii) on the date any such Computational Materials
or Structural Term Sheets with respect to such Offered
Certificates (or any written or electronic materials
furnished to prospective investors on which the
Computational Materials are based) were last furnished
to each prospective investor and on the date of
delivery thereof to the Company pursuant to Section
8(a) and on the related Closing Date, such
Computational Materials (or such other materials) or
Structural Term Sheets did not and will not include
any untrue statement of a material fact or, when read
in conjunction with the related Prospectus and
Prospectus Supplement, omit to state a material fact
required to be stated therein or necessary to make the
statements therein not misleading;
(iv) the Underwriter has not represented to any
prospective investor that any Computational Materials
or Structural Term Sheets with respect to any Series
were prepared or disseminated on behalf of the
Company, and, from and after January 26, 1996, all
Computational Materials and Structural Term Sheets
furnished to prospective investors (and all written
and electronic materials furnished to prospective
investors on which the Computational Materials are
based) included a disclaimer to the effect set forth
in Section 8(c); and
(v) at the time any Computational Materials (or
any written or electronic materials furnished to
prospective investors on which the Computational
Materials are based) with respect to such Offered
- 24 -
<PAGE>
Certificates were furnished to a prospective investor
and on the date of the related Terms Agreement, the
Underwriter possessed, and on the date of delivery of
such materials to the Company pursuant to this Section
8 and on the related Closing Date, the Underwriter
will possess, the capability, knowledge, expertise,
resources and systems of internal control necessary to
ensure that such Computational Materials conform to
the representations and warranties of the Underwriter
contained in subparagraphs (i) and (iii) above of this
paragraph (b).
Notwithstanding the foregoing, the Underwriter makes no
representation or warranty as to whether any Computational
Materials or Structural Term Sheets (or any written or electronic
materials on which the Computational Materials are based)
included or will include any untrue statement resulting directly
from any Mortgage Pool Error (except any Corrected Mortgage Pool
Error, with respect to materials prepared after the receipt by
the Underwriter from the Company of notice of such Corrected
Mortgage Pool Error or materials superseding or correcting such
Corrected Mortgage Pool Error).
(c) The Underwriter acknowledges and agrees that the
Company has not authorized and will not authorize the
distribution of any Computational Materials (or any written or
electronic materials on which the Computational Materials are
based) or Structural Term Sheets to any prospective investor, and
agrees that any Computational Materials or Structural Term Sheets
with respect to any Series of Certificates furnished to
prospective investors from and after the date hereof shall
include a disclaimer in form satisfactory to the Company to the
effect that such materials have been prepared and disseminated
solely by and on behalf of the Underwriter, and that the Company
has not reviewed or participated in the preparation or
dissemination of such materials and is not responsible for the
contents or accuracy thereof. The Underwriter agrees that it will
not represent to prospective investors that any Computational
Materials or Structural Term Sheets were prepared or disseminated
on behalf of the Company.
(d) If, at any time when a prospectus relating to the
Offered Certificates of a Series is required to be delivered
under the Act, it shall be necessary to amend or supplement the
related Prospectus as a result of an untrue statement of a
material fact contained in any Computational Materials or
Structural Term Sheets provided by the Underwriter pursuant to
this Section 8 or the omission to state therein a material fact
required, when considered in conjunction with the related
Prospectus and Prospectus Supplement, to be stated therein or
necessary to make the statements therein, when read in
conjunction with the related Prospectus and Prospectus
- 25 -
<PAGE>
Supplement, not misleading, or if it shall be necessary to amend
or supplement any Current Report relating to any Computational
Materials or Structural Term Sheets to comply with the Act or the
rules thereunder, the Underwriter promptly will prepare and
furnish to the Company for filing with the Commission an
amendment or supplement which will correct such statement or
omission or an amendment which will effect such compliance. The
Underwriter represents and warrants to the Company, as of the
date of delivery of such amendment or supplement to the Company,
that such amendment or supplement will not include any untrue
statement of a material fact or, when read in conjunction with
the related Prospectus and Prospectus Supplement, omit to state a
material fact required to be stated therein or necessary to make
the statements therein not misleading. The Company shall have no
obligation to file such amendment or supplement if the Company
determines that (i) such amendment or supplement contains any
untrue statement of a material fact or, when read in conjunction
with the related Prospectus and Prospectus Supplement, omits to
state a material fact required to be stated therein or necessary
to make the statements therein not misleading; it being
understood, however, that the Company shall have no obligation to
review or pass upon the accuracy or adequacy of, or to correct,
any such amendment or supplement provided by the Underwriter to
the Company pursuant to this paragraph (e) or (ii) such filing is
not required under the Act.
9. Collateral Term Sheets. (a) Prior to the delivery
of any "Collateral Term Sheet" within the meaning of the PSA
Letter, the filing of which material is a condition of the relief
granted in such letter (such material being the "Collateral Term
Sheets"), to a prospective investor in any Offered Certificates,
the Underwriter shall, in order to facilitate the timely filing
of such material with the Commission, notify the Company and its
counsel by telephone of its intention to deliver such materials
and the approximate date on which the first such delivery of such
materials is expected to occur. Not later than 10:30 a.m., New
York time, on the business day immediately following the date on
which any Collateral Term Sheet was first delivered to a
prospective investor in such Offered Certificates, the
Underwriter shall deliver to the Company five complete copies of
all materials provided by the Underwriter to prospective
investors in such Offered Certificates which constitute
"Collateral Term Sheets." Each delivery of a Collateral Term
Sheet to the Company pursuant to this paragraph (a) shall be
effected by delivering four copies of such materials to counsel
for the Company on behalf of the Company at the address specified
in Section 3 hereof and one copy of such materials to the
Company. (Collateral Term Sheets and Structural Term Sheets are,
together, referred to herein as "ABS Term Sheets.") At the time
of each such delivery, the Underwriter shall indicate in writing
that the materials being delivered constitute Collateral Term
Sheets, and, if there has been any
- 26 -
<PAGE>
prior such delivery with respect to the related Series, shall
indicate whether such materials differ in any material respect
from any Collateral Term Sheets previously delivered to the
Company with respect to such Series pursuant to this Section 9(a)
as a result of the occurrence of a material change in the
characteristics of the related Mortgage Loans.
(b) The Underwriter represents and warrants to and
agrees with the Company as of the date of the related Terms
Agreement and as of the Closing Date, that:
(i) The Collateral Term Sheets furnished to
the Company pursuant to Section 9(a) constitute all of the
materials furnished to prospective investors by the
Underwriter prior to time of delivery thereof to the
Company that are required to be filed with the Commission
as "Collateral Term Sheets" with respect to the related
Offered Certificates in accordance with the PSA Letter, and
such Collateral Term Sheets comply with the requirements of
the PSA Letter;
(ii) On the date any such Collateral Term
Sheets with respect to such Offered Certificates were last
furnished to each prospective investor and on the date of
delivery thereof to the Company pursuant to Section 9(a)
and on the related Closing Date, such Collateral Term
Sheets did not and will not include any untrue statement of
a material fact or, when read in conjunction with the
Prospectus and Prospectus Supplement, omit to state a
material fact required to be stated therein or necessary to
make the statements therein not misleading; and
(iii) the Underwriter has not represented to
any prospective investor that any Collateral Term Sheets
with respect to any Series were prepared or disseminated on
behalf of the Company, and, except as otherwise disclosed
by the Underwriter to the Company in writing prior to the
date hereof, all Collateral Term Sheets previously
furnished to prospective investors included a disclaimer to
the effect set forth in Section 8(c).
Notwithstanding the foregoing, the Underwriter makes no
representation or warranty as to whether any Collateral Term
Sheet included or will include any untrue statement or material
omission resulting directly from any Mortgage Pool Error (except
any Corrected Mortgage Pool Error, with respect to materials
prepared after the receipt by the Underwriter from the Company of
notice of such Corrected Mortgage Pool Error or materials
superseding or correcting such Corrected Mortgage Pool Error).
(c) The Underwriter acknowledges and agrees that any
Collateral Term Sheets with respect to any Series of Certificates
- 27 -
<PAGE>
furnished to prospective investors from and after the date hereof
shall include a disclaimer in form satisfactory to the Company to
the effect set forth in Section 8(c) hereof, and to the effect
that the information contained in such materials supersedes the
information contained in any prior Collateral Term Sheet with
respect to such Series of Offered Certificates and will be
superseded by the description of the related Mortgage Loans in
the related Prospectus Supplement and in the Detailed Description
relating to such Prospectus Supplement to be filed under cover of
Form 8-K. The Underwriter agrees that it will not represent to
prospective investors that any Collateral Term Sheets were
prepared or disseminated on behalf of the Company.
(d) If, at any time when a prospectus relating to the
Offered Certificates of a Series is required to be delivered
under the Act, it shall be necessary to amend or supplement the
related Prospectus as a result of an untrue statement of a
material fact contained in any Collateral Term Sheets provided by
the Underwriter pursuant to this Section 9 or the omission to
state therein a material fact required, when considered in
conjunction with the related Prospectus and Prospectus
Supplement, to be stated therein or necessary to make the
statements therein, when read in conjunction with the related
Prospectus and Prospectus Supplement, not misleading, or if it
shall be necessary to amend or supplement any Current Report
relating to any Collateral Term Sheets to comply with the Act or
the rules thereunder, the Underwriter promptly will prepare and
furnish to the Company for filing with the Commission an
amendment or supplement which will correct such statement or
omission or an amendment which will effect such compliance. The
Underwriter represents and warrants to the Company, as of the
date of delivery of such amendment or supplement to the Company,
that such amendment or supplement will not include any untrue
statement of a material fact or, when read in conjunction with
the related Prospectus and Prospectus Supplement, omit to state a
material fact required to be stated therein or necessary to make
the statements therein not misleading; provided, however, that
the Underwriter makes no representation or warranty as to whether
any such amendment or supplement will include any untrue
statement resulting directly from any Mortgage Pool Error (except
any Corrected Mortgage Pool Error, with respect to any such
amendment or supplement prepared after the receipt by the
Underwriter from the Company of notice of such Corrected Mortgage
Pool Error or materials superseding or correcting such Corrected
Mortgage Pool Error). The Company shall have no obligation to
file such amendment or supplement if the Company determines that
(i) such amendment or supplement contains any untrue statement of
a material fact or, when read in conjunction with the related
Prospectus and Prospectus Supplement, omits to state a material
fact required to be stated therein or necessary to make the
statements therein not misleading; it being understood, however,
that the Company shall have no obligation to review or pass upon
- 28 -
<PAGE>
the accuracy or adequacy of, or to correct, any such amendment or
supplement provided by the Underwriter to the Company pursuant to
this paragraph (d) or (ii) such filing is not required under the
Act.
10. Termination. This Agreement (with respect to a
particular Certificate Offering) and the related Terms Agreement
shall be subject to termination in the absolute discretion of the
Underwriter, by notice given to the Company prior to delivery of
and payment for the related Offered Certificates, if prior to the
related Closing Date (i) trading in securities generally on the
New York Stock Exchange shall have been suspended or materially
limited, (ii) a general moratorium on commercial banking
activities in New York shall have been declared by either federal
or New York State authorities, or (iii) there shall have occurred
any outbreak or material escalation of hostilities or other
calamity or crisis the effect of which on the financial markets
of the United States is such as to make it, in the reasonable
judgment of the Underwriter, impracticable to market such Offered
Certificates.
11. Representations and Indemnities to Survive
Delivery. The agreements, representations, warranties,
indemnities and other statements of the Company or its officers
and of the Underwriter set forth in or made pursuant to this
Agreement and the related Terms Agreement will remain in full
force and effect, regardless of any investigation made by or on
behalf of the Underwriter or the Company or any of the officers,
directors or controlling persons referred to in Section 7 hereof,
and will survive delivery of and payment for the related Offered
Certificates. The provisions of Section 7 hereof shall survive
the termination or cancellation of this Agreement and the related
Terms Agreement.
12. Successors. This Agreement and the related Terms
Agreement will inure to the benefit of and be binding upon the
parties hereto and thereto and their respective successors and
the officers, directors and controlling persons referred to in
Section 7 hereof, and their successors and assigns, and no other
person will have any right or obligation hereunder or thereunder.
No purchaser of any Offered Certificate from the Underwriter
shall be deemed a successor or assign by reason of such purchase.
13. APPLICABLE LAW. THIS AGREEMENT AND THE RELATED
TERMS AGREEMENT WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK APPLICABLE TO AGREEMENTS
MADE AND TO BE PERFORMED THEREIN.
14. Miscellaneous. This Agreement, as supplemented by
the related Terms Agreement, supersedes all prior and
contemporaneous agreements and understandings relating to the
subject matter hereof. This Agreement and the related Terms
- 29 -
<PAGE>
Agreement or any term of each may not be changed, waived,
discharged or terminated except by an affirmative written
agreement made by the party against whom enforcement of the
change, waiver, discharge or termination is sought. The headings
in this Agreement and the related Terms Agreement are for
purposes of reference only and shall not limit or otherwise
affect the meaning hereof or thereof.
15. Notices. All communications hereunder will be in
writing and effective only on receipt, and, if sent to the
Underwriter, will be delivered to it at the address first above
written; or if sent to the Company, will be delivered to GE
Capital Mortgage Services, Inc., Three Executive Campus, Cherry
Hill, New Jersey 08002, Attention: General Counsel.
<PAGE>
If the foregoing is in accordance with your
understanding of our agreement, please sign and return to the
undersigned a counterpart hereof, whereupon this letter and your
acceptance shall represent a binding agreement between the
Company and the Underwriter.
Very truly yours,
GE CAPITAL MORTGAGE SERVICES, INC.
By:
Name:
Title:
The foregoing Agreement is hereby confirmed and accepted as of
the date first above written.
DONALDSON, LUFKIN & JENRETTE
SECURITIES CORPORATION
By:
Name:
Title:
- 31 -
<PAGE>
EXHIBIT A
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES ____-__
TERMS AGREEMENT
(to Underwriting Agreement,
dated March [ ], 1996
between the Company and the Underwriter)
GE Capital Mortgage Services, Inc. New York, New York
Three Executive Campus [Date]
Cherry Hill, NJ 08034
Donaldson, Lufkin & Jenrette Securities Corporation
(the "Underwriter") agrees, subject to the terms and provisions
herein and of the captioned Underwriting Agreement (the
"Underwriting Agreement"), to purchase such Classes of Series
____-__ Certificates specified in Section 2(a) hereof (the
"Offered Certificates"). This letter supplements and modifies the
Underwriting Agreement solely as it relates to the purchase and
sale of the Offered Certificates described below. The Series
____-__ Certificates are registered with the Securities and
Exchange Commission by means of an effective Registration
Statement (No. 33-___). Capitalized terms used and not defined
herein have the meanings given them in the Underwriting
Agreement.
Section 1. The Mortgage Pool: The Series ____-__
Certificates shall evidence the entire beneficial ownership
interest in a mortgage pool (the "Mortgage Pool") of
conventional, fixed rate, fully amortizing one- to four-family
residential mortgage loans (the "Mortgage Loans") having the
following characteristics as of ________ __, ____ (the "Cut-off
Date"):
(a) Aggregate Principal Amount of the Mortgage Pool:
$[ ] aggregate principal balance as of the Cutoff Date,
subject to [an upward or downward variance of up to [ ]%,
the precise aggregate principal balance to be determined by
the Company][a permitted variance such that the aggregate
Scheduled Principal Balance thereof will be not less than
$[ ] or greater than $[ ]].
(b) Original Terms to Maturity: The original term to
maturity of each Mortgage Loan included in the Mortgage Pool
shall be between ___ and ___ years.
A-1
<PAGE>
Section 2. The Certificates: The Offered
Certificates shall be issued as follows:
(a) Classes: The Offered Certificates shall be issued
with the following Class designations, interest rates and
principal balances, subject in the aggregate to the
variance referred to in Section 1(a)[and, as to any
particular Class, to an upward or downward variance of up
to [ ]%]:
Principal Interest Class Purchase
Class Balance Rate Price Percentage
(b) The Offered Certificates shall have such other
characteristics as described in the related Prospectus.
Section 3. Purchase Price: The Purchase Price for each
Class of the Offered Certificates shall be the Class Purchase
Price Percentage therefor (as set forth in Section 2(a) above) of
the initial Class Certificates Principal Balance thereof plus
accrued interest at the rate of [ ]% per annum from and including
the Cut-off Date up to, but not including, _________ __, ____
(the "Closing Date").
Section 4. Required Ratings: The Offered
Certificates shall have received Required Ratings of at least
[ ] from [ ].
Section 5. Tax Treatment: [One or more elections
will be made to treat the assets of the Trust Fund as a REMIC.]
[The Trust Fund will be treated as a "grantor trust" for federal
income tax purposes.]
[Section 6. Additional Expenses:]*
- --------
* to be inserted if applicable.
A-2
<PAGE>
If the foregoing is in accordance with your
understanding of our agreement, please sign and return to the
undersigned a counterpart hereof, whereupon this letter and your
acceptance shall represent a binding agreement between the
Underwriter and the Company.
Very truly yours,
DONALDSON, LUFKIN & JENRETTE
SECURITIES CORPORATION
By:
Name:
Title:
The foregoing Agreement is hereby confirmed and accepted as of
the date first above written.
GE CAPITAL MORTGAGE SERVICES, INC.
By:
Name:
Title:
A-3
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATES
SERIES 1998-14
TERMS AGREEMENT
---------------
(to Underwriting Agreement,
dated March 21, 1996,
between the Company and the Underwriter)
GE Capital Mortgage Services, Inc. New York, New York
Three Executive Campus September 23, 1998
Cherry Hill, NJ 08002
Donaldson, Lufkin & Jenrette Securities Corporation
(the "Underwriter") agrees, subject to the terms and provisions
herein and of the captioned Underwriting Agreement (the
"Underwriting Agreement"), to purchase the Classes of Series
1998-14 Certificates specified in Section 2(a) hereof (the
"Offered Certificates"). This Terms Agreement supplements and
modifies the Underwriting Agreement solely as it relates to the
purchase and sale of the Offered Certificates described below.
The Series 1998-14 Certificates are registered with the
Securities and Exchange Commission by means of an effective
Registration Statement (No. 333-51151). Capitalized terms used
and not defined herein have the meanings given them in the
Underwriting Agreement.
Section 1. The Mortgage Pool: The Series 1998-14
Certificates shall evidence the entire beneficial ownership
interest in a mortgage pool (the "Mortgage Pool") of
conventional, fixed-rate, first-lien, fully-amortizing, one- to
four-family residential mortgage loans (the "Mortgage Loans")
having the following characteristics as of September 1, 1998 (the
"Cut-off Date"):
(a) Aggregate Principal Amount of the Mortgage Pool:
$525,911,631 aggregate principal balance as of the Cut-off Date,
subject to a permitted variance such that the aggregate original
Certificate Principal Balance will be not less than $498,750,000
or greater than $551,250,000.
(b) Original Terms to Maturity: The original term to
maturity of substantially all of the Mortgage Loans included in
the Mortgage Pool shall be between 20 and 30 years.
Section 2. The Certificates: The Offered Certificates shall
be issued as follows:
(a) Classes: The Offered Certificates shall be issued with
the following Class designations, interest rates and principal
balances, subject in the aggregate to the variance referred to in
Section 1(a):
<PAGE>
Class
Principal Interest Purchase Price
Class Balance Rate Percentage
- ----- ------- ---- ----------
Class M $9,729,365 6.75% 99.580000%
Class B1 4,207,293 6.75% 98.750000%
Class B2 2,366,602 6.75% 96.800000%
(b) The Offered Certificates shall have such other
characteristics as described in the related Prospectus.
Section 3. Purchase Price: The Purchase Price for each
Class of the Offered Certificates shall be the Class Purchase
Price Percentage therefor (as set forth in Section 2(a) above) of
the initial Class Certificate Principal Balance thereof plus
accrued interest at the initial interest rate per annum from and
including the Cut-off Date up to, but not including, September
24, 1998 (the "Closing Date").
Section 4. Required Ratings: The Class M, Class B1 and
Class B2 Certificates shall have received Required Ratings of at
least "AA," "A" and "BBB," respectively, by Fitch.
Section 5. Tax Treatment: One or more elections will be
made to treat the assets of the Trust Fund as a REMIC.
2
<PAGE>
If the foregoing is in accordance with your
understanding of our agreement, please sign and return to the
undersigned a counterpart hereof, whereupon this letter and your
acceptance shall represent a binding agreement between the
Underwriter and the Company.
Very truly yours,
DONALDSON, LUFKIN & JENRETTE
SECURITIES CORPORATION
By:_______________________________
Name:
Title:
The foregoing Agreement is
hereby confirmed and accepted
as of the date hereof.
GE CAPITAL MORTGAGE SERVICES, INC.
By:_______________________________
Name:
Title:
EXECUTION
=================================================================
GE CAPITAL MORTGAGE SERVICES, INC.,
Seller and Servicer
and
STATE STREET BANK AND TRUST COMPANY,
Trustee
POOLING AND SERVICING AGREEMENT
Dated as of September 1, 1998
REMIC Multi-Class Pass-Through Certificates,
Series 1998-14
=================================================================
<PAGE>
Table of Contents
Page
----
ARTICLE I
DEFINITIONS
Section 1.01. Definitions.........................................1
ARTICLE II
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES
Section 2.01. Conveyance of Mortgage Loans.......................36
Section 2.02. Acceptance by Trustee..............................39
Section 2.03. Representations and Warranties of
the Company; Mortgage Loan Repurchase..............40
Section 2.04. Execution of Certificates..........................46
Section 2.05. The REMICs.........................................46
Section 2.06. Designations under the REMIC Provisions............49
ARTICLE III
ADMINISTRATION AND SERVICING OF MORTGAGE LOANS
Section 3.01. Company to Act as Servicer.........................50
Section 3.02. Collection of Certain Mortgage Loan
Payments; Mortgage Loan Payment
Record; Certificate Account........................54
Section 3.03. Collection of Taxes, Assessments and Other Items...56
Section 3.04. Permitted Debits to the Mortgage
Loan Payment Record................................57
Section 3.05. Maintenance of the Primary Insurance Policies......58
Section 3.06. Maintenance of Hazard Insurance....................58
Section 3.07. Assumption and Modification Agreements.............59
Section 3.08. Realization Upon Defaulted Mortgage Loans..........60
Section 3.09. Trustee to Cooperate; Release of Mortgage Files....63
Section 3.10. Servicing Compensation; Payment of
Certain Expenses by the Company....................63
Section 3.11. Reports to the Trustee; Certificate
Account Statements.................................64
Section 3.12. Annual Statement as to Compliance..................64
Section 3.13. Annual Independent Public Accountants'
Servicing Report...................................64
Section 3.14. Access to Certain Documentation and
Information Regarding the Mortgage Loans...........65
Section 3.15. Maintenance of Certain Servicing Policies..........65
Section 3.16. Optional Purchase of Defaulted Mortgage Loans......65
ARTICLE IV
PAYMENTS AND STATEMENTS
Section 4.01. Distributions......................................65
Section 4.02. Method of Distribution.............................71
Section 4.03. Allocation of Losses...............................71
Section 4.04. Monthly Advances; Purchases of
Defaulted Mortgage Loans...........................74
Section 4.05. Statements to Certificateholders...................74
Section 4.06. Servicer's Certificate.............................76
<PAGE>
Section 4.07. Reports of Foreclosures and Abandonments
of Mortgaged Property..............................76
Section 4.08. Reduction of Base Servicing Fees by
Compensating Interest Payments.....................77
Section 4.09. Surety Bond........................................77
ARTICLE V
THE CERTIFICATES
Section 5.01. The Certificates...................................77
Section 5.02. Registration of Transfer and
Exchange of Certificates...........................79
Section 5.03. Mutilated, Destroyed, Lost or Stolen
Certificates.......................................84
Section 5.04. Persons Deemed Owners..............................85
Section 5.05. Access to List of Certificateholders'
Names and Addresses................................85
Section 5.06. Representation of Certain
Certificateholders.................................85
Section 5.07. Determination of COFI..............................85
Section 5.08. Determination of LIBOR.............................86
ARTICLE VI
THE COMPANY
Section 6.01. Liability of the Company...........................88
Section 6.02. Merger or Consolidation of, or Assumption
of the Obligations of, the Company.................88
Section 6.03. Assignment.........................................88
Section 6.04. Limitation on Liability of the
Company and Others.................................88
Section 6.05. The Company Not to Resign..........................89
ARTICLE VII
DEFAULT
Section 7.01. Events of Default..................................89
Section 7.02. Trustee to Act; Appointment of Successor...........90
Section 7.03. Notification to Certificateholders.................91
ARTICLE VIII
THE TRUSTEE
Section 8.01. Duties of Trustee..................................91
Section 8.02. Certain Matters Affecting the Trustee..............93
Section 8.03. Trustee Not Liable for Certificates
or Mortgage Loans..................................94
Section 8.04. Trustee May Own Certificates.......................94
Section 8.05. The Company to Pay Trustee's
Fees and Expenses..................................94
Section 8.06. Eligibility Requirements for Trustee...............94
Section 8.07. Resignation or Removal of Trustee..................95
Section 8.08. Successor Trustee..................................95
Section 8.09. Merger or Consolidation of Trustee.................96
Section 8.10. Appointment of Co-Trustee or Separate Trustee......96
Section 8.11. Compliance with REMIC Provisions; Tax Returns......97
ARTICLE IX
TERMINATION
ii
<PAGE>
Section 9.01. Termination upon Repurchase by the Company
or Liquidation of All Mortgage Loans...............97
Section 9.02. Additional Termination Requirements................99
ARTICLE X
MISCELLANEOUS PROVISIONS
Section 10.01. Amendment........................................100
Section 10.02. Recordation of Agreement.........................101
Section 10.03. Limitation on Rights of Certificateholders.......101
Section 10.04. Governing Law....................................102
Section 10.05. Notices..........................................102
Section 10.06. Notices to the Rating Agencies...................102
Section 10.07. Severability of Provisions.......................102
Section 10.08. Certificates Nonassessable and Fully Paid........102
ARTICLE I
DEFINITIONS
Section 1.01. Defined Terms.......................................2
Section 1.02. Definitions Incorporated by Reference...............3
ARTICLE II
SPECIAL SERVICING PROCEDURES
Section 2.01. Reports and Notices.................................3
Section 2.02. Purchaser's Election to Delay Foreclosure
Proceedings.........................................4
Section 2.03. Purchaser's Election to Commence Foreclosure
Proceedings.........................................6
Section 2.04. Termination.........................................8
Section 2.05. Notification. The Purchaser shall
promptly notify the Trustee and the
Company if such Purchaser becomes aware
of any discussions, plans or events that
might lead to such Person's becoming an
"affiliate" (within the meaning of the
Prohibited Transaction..............................8
ARTICLE III
COLLATERAL FUND; SECURITY INTEREST
Section 3.01. Collateral Fund.....................................9
Section 3.02. Collateral Fund Permitted Investments...............9
Section 3.03. Grant of Security Interest.........................10
Section 3.04. Collateral Shortfalls..............................10
ARTICLE IV
MISCELLANEOUS PROVISIONS
Section 4.01. Amendment..........................................10
Section 4.02. Counterparts.......................................11
Section 4.03. Governing Law......................................11
Section 4.04. Notices. All demands, notices and direction
hereunder shall be in writing or by telecopy
and shall be deemed effective upon receipt to:.....11
Section 4.05. Severability of Provisions.........................12
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Section 4.06. Successor and Assigns..............................12
Section 4.07. Article and Section Headings.......................12
Section 4.08. Third Party Beneficiaries..........................12
Section 4.09. Confidentiality....................................12
Section 4.10. Indemnification....................................13
[Section 4.11 Delayed Effectiveness].............................13
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Exhibits
EXHIBIT A Forms of Certificates
EXHIBIT B Principal Balance Schedules
EXHIBIT C Mortgage Loans (including list of
Cooperative Loans)
EXHIBIT D Form of Servicer's Certificate
EXHIBIT E Form of Transfer Certificate as to ERISA Matters
for Definitive ERISA-Restricted Certificates
EXHIBIT F Form of Residual Certificate Transferee Affidavit
EXHIBIT G Form of Residual Certificate Transferor Letter
EXHIBIT H Additional Servicer Compensation
EXHIBIT I Form of Investment Letter for
Definitive Restricted Certificates
EXHIBIT J Form of Distribution Date Statement
EXHIBIT K Form of Special Servicing and Collateral
Fund Agreement
EXHIBIT L Form of Lost Note Affidavit and Agreement
EXHIBIT M Schedule of Designated Loans
EXHIBIT N Schedule of Pledged Asset Mortgage Loans
EXHIBIT O Senior Principal Priorities
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THIS POOLING AND SERVICING AGREEMENT, dated as of
September 1, 1998, between GE CAPITAL MORTGAGE SERVICES, INC., a
corporation organized and existing under the laws of the State of
New Jersey, and STATE STREET BANK AND TRUST COMPANY, a
Massachusetts banking corporation, as Trustee.
W I T N E S S E T H T H A T :
In consideration of the mutual agreements herein
contained, GE Capital Mortgage Services, Inc. and State Street
Bank and Trust Company agree as follows:
ARTICLE I
DEFINITIONS
Section 1.01. Definitions. Whenever used in this
Agreement, the following words and phrases, unless the context
otherwise requires, shall have the following meanings:
Accretion Directed Certificate: As to the Class A9
Certificates, any Class A4 and Class A9 Certificates. As to
the Class A7D Accrual Component, any Class A4 Certificates.
Accretion Directed Component: As to the Class A9
Certificates, any Class A12B TAC and Class A7D Accrual
Component. As to the Class A7D Accrual Component, any Class
A12B TAC and Class A7D Accrual Component.
Accretion Termination Date: As to each of the Class of
Accrual Certificates and the Accrual Component, the
Cross-Over Date.
Accrual Amount: As to any Class of Accrual Certificates
and each Distribution Date through the related Accretion
Termination Date, the sum of (x) any amount of Accrued
Certificate Interest allocable to such Class pursuant to
Section 4.01(a)(i) on such Distribution Date and (y) any
Unpaid Class Interest Shortfall allocable to such Class
pursuant to Section 4.01(a)(ii) on such Distribution Date,
to the extent that such amounts are distributed to any
related Accretion Directed Certificates and any related
Accretion Directed Components pursuant to Section 4.01(e).
As to any Accrual Component and each Distribution Date
through the related Accretion Termination Date, the sum of
(x) 5.50/6.75 of the amount of any Accrued Certificate
Interest allocable to such Component pursuant to Section
4.01(a)(i) on such Distribution Date and (y) 5.50/6.75 of
the amount of any Unpaid Class Interest Shortfall allocable
to such Component pursuant to Section 4.01(ii) on such
Distribution Date, to the extent that such amounts are
distributed to any related Accretion Directed Certificates
and any related Accretion Directed Components pursuant to
Section 4.01(e). As to any Class of Accrual Certificates and
any Accrual Component and each Distribution Date after the
related Accretion Termination Date, zero.
Accrual Certificates: Any Class A9 Certificate.
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Accrual Component: Any Class A7D Accrual Component.
Accrued Certificate Interest: As to any Distribution
Date and any Class of Certificates (other than any Class of
Principal Only Certificates and any Class of Certificates
consisting of Specified Components), interest accrued during
the related Interest Accrual Period at the applicable
Certificate Interest Rate on the Class Certificate Principal
Balance (or, in the case of any Class of Notional
Certificates, on the aggregate Notional Principal Balance)
thereof immediately prior to such Distribution Date,
calculated on the basis of a 360-day year consisting of
twelve 30-day months. As to any Distribution Date and any
Specified Component (other than any Principal Only
Component), interest accrued during the related Interest
Accrual Period at the applicable Component Interest Rate on
the Component Principal Balance (or Notional Component
Principal Balance) thereof immediately prior to such
Distribution Date, calculated on the basis of a 360-day year
consisting of twelve 30-day months. As to any Distribution
Date and any Class of Certificates consisting of Specified
Components, the aggregate of Accrued Certificate Interest on
such Specified Components for such Distribution Date.
Accrued Certificate Interest on each Class of
Certificates (other than any Class of Principal Only
Certificates and any Class of Certificates consisting of
Specified Components) and any Specified Component (other
than any Principal Only Component) shall be reduced by such
Class's or Specified Component's share of the amount of any
Net Interest Shortfall and Certificate Interest Losses for
such Distribution Date. Any Net Interest Shortfall and
Certificate Interest Losses shall be allocated among (x)
the Classes of Certificates (other than any Class of
Principal Only Certificates and any Class of Certificates
consisting of Specified Components) and (y) the Specified
Components (other than any Principal Only Component) of any
Component Certificate in proportion to the respective
amounts of Accrued Certificate Interest that would have
resulted absent such shortfall or losses.
Additional Collateral: With respect to any Mortgage
100SM Loan, the marketable securities held from time to time
as security for the repayment of such Mortgage 100SM Loan
and any related collateral. With respect to any Parent
PowerSM Loan, the third-party guarantee for such Parent
PowerSM Loan, together with (i) any marketable securities
held from time to time as security for the performance of
such guarantee and any related collateral or (ii) any
mortgaged property securing the performance of such
guarantee, the related home equity line of credit loan and
any related collateral.
Aggregate PAC Balance: As to any Distribution Date and
the PAC Certificates, the balance designated as such for
such Distribution Date and the PAC Certificate as set forth
in the Principal Balance Schedules.
Aggregate TAC A Balance: As to any Distribution Date
and the TAC A Certificates, the balance designated as such
for such Distribution Date and the TAC A Certificates as set
forth in the Principal Balance Schedules.
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Aggregate TAC B Balance: As to any Distribution Date
and the TAC B Certificates, the balance designated as such
for such Distribution Date and the TAC B Certificates as set
forth in the Principal Balance Schedules.
Aggregate TAC C Balance: As to any Distribution Date
and the TAC C Certificates, the balance designated as such
for such Distribution Date and the TAC C Certificates as set
forth in the Principal Balance Schedules.
Agreement: This Pooling and Servicing Agreement and all
amendments hereof and supplements hereto.
Allocable Share: (a) As to any Distribution Date and
amounts distributable pursuant to clauses (i) and (iii) of
the definition of Junior Optimal Principal Amount, and as to
each Class of Junior Certificates, the fraction, expressed
as a percentage, the numerator of which is the Class
Certificate Principal Balance of such Class and the
denominator of which is the aggregate Class Certificate
Principal Balance of the Junior Certificates.
(b) As to any Distribution Date and amounts
distributable pursuant to clauses (ii), (iv) and (v) of the
definition of Junior Optimal Principal Amount, and as to
the Class M Certificates and each Class of Class B
Certificates for which the related Prepayment Distribution
Trigger has been satisfied on such Distribution Date, the
fraction, expressed as a percentage, the numerator of which
is the Class Certificate Principal Balance of such Class
and the denominator of which is the aggregate Class
Certificate Principal Balance of all such Classes. As to
any Distribution Date and each Class of Class B
Certificates for which the related Prepayment Distribution
Trigger has not been satisfied on such Distribution Date,
0%.
Amortization Payment: As to any REO Mortgage Loan and
any month, the payment of principal and accrued interest due
in such month in accordance with the terms of the related
Mortgage Note as contemplated by Section 3.08(b).
Amount Held for Future Distribution: As to each
Distribution Date, the total of all amounts credited to the
Mortgage Loan Payment Record as of the preceding
Determination Date on account of (i) Principal Prepayments,
Insurance Proceeds and Liquidation Proceeds received
subsequent to the preceding Prepayment Period applicable to
such receipts, and (ii) monthly payments of principal and
interest due subsequent to the preceding Due Date.
Anniversary Determination Date: The Determination Date
occurring in October of each year that the Certificates are
outstanding, commencing in October 1999.
Assignment of Proprietary Lease: With respect to a
Cooperative Loan, the assignment of the related Proprietary
Lease from the Mortgagor to the originator of the
Cooperative Loan.
Assumed Monthly Payment Reduction: As of any
Anniversary Determination Date and as to any Non-Primary
Residence Loan remaining in the Mortgage Pool whose
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original principal balance was 80% or greater of the
Original Value thereof, the excess of (i) the Monthly
Payment thereof calculated on the assumption that the
Mortgage Rate thereon was equal to the weighted average (by
principal balance) of the Remittance Rates of all
Outstanding Mortgage Loans (the "Weighted Average Rate") as
of such Anniversary Determination Date over (ii) the Monthly
Payment thereof calculated on the assumption that the
Remittance Rate thereon was equal to the Weighted Average
Rate less 1.25% per annum.
Available Funds: As to each Distribution Date, an
amount equal to the sum of (i) all amounts credited to the
Mortgage Loan Payment Record pursuant to Section 3.02 as of
the preceding Determination Date, (ii) any Monthly Advance
and any Compensating Interest Payment for such Distribution
Date, (iii) the Purchase Price of any Defective Mortgage
Loans and Defaulted Mortgage Loans deposited in the
Certificate Account on the Business Day preceding such
Distribution Date (including any amounts deposited in the
Certificate Account in connection with any substitution of a
Mortgage Loan as specified in Section 2.03(b)), and (iv) the
purchase price of any defaulted Mortgage Loan purchased
under an agreement entered into pursuant to Section 3.08(e)
as of the end of the preceding Prepayment Period less the
sum of (x) the Amount Held for Future Distribution, (y) the
amount of any Unanticipated Recovery credited to the
Mortgage Loan Payment Record pursuant to clause (vi) of
Section 3.02(b), and (z) amounts permitted to be debited
from the Mortgage Loan Payment Record pursuant to clauses
(i) through (vii) and (ix) of Section 3.04.
Bankruptcy Coverage Termination Date: The Distribution
Date upon which the Bankruptcy Loss Amount has been reduced
to zero or a negative number (or the Cross-Over Date, if
earlier).
Bankruptcy Loss Amount: As of any Determination Date
prior to the first Anniversary Determination Date, the
Bankruptcy Loss Amount shall equal $193,071 as reduced by
the aggregate amount of Deficient Valuations and Debt
Service Reductions since the Cut-off Date. As of any
Determination Date after the first Anniversary Determination
Date, other than an Anniversary Determination Date, the
Bankruptcy Loss Amount shall equal the Bankruptcy Loss
Amount on the immediately preceding Anniversary
Determination Date as reduced by the aggregate amount of
Deficient Valuations and Debt Service Reductions since such
preceding Anniversary Determination Date. As of any
Anniversary Determination Date, the Bankruptcy Loss Amount
shall equal the lesser of (x) the Bankruptcy Loss Amount as
of the preceding Determination Date as reduced by any
Deficient Valuations and Debt Service Reductions for the
preceding Distribution Date, and (y) the greater of (i) the
Fitch Formula Amount for such Anniversary Determination Date
and (ii) the Formula Amount for such Anniversary
Determination Date.
The Bankruptcy Loss Amount may be further reduced by
the Company (including accelerating the manner in which such
coverage is reduced) provided that prior to any such
reduction, the Company shall obtain written confirmation
from each Rating Agency that such reduction shall not
adversely affect the then-current rating assigned to the
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related Classes of Certificates by such Rating Agency and
shall provide a copy of such written confirmation to the
Trustee.
Base Servicing Fee: As to any Mortgage Loan and
Distribution Date, an amount equal to the product of (i) the
Scheduled Principal Balance of such Mortgage Loan as of the
Due Date in the preceding calendar month and (ii) the Base
Servicing Fee Rate for such Mortgage Loan. The Base
Servicing Fee for any Distribution Date is subject to
adjustment pursuant to Section 3.08(d) (with respect to a
Realized Loss) or the definition of Interest Loss (with
respect to the interest portion of a Debt Service Reduction).
Base Servicing Fee Rate: As to any Mortgage Loan, the
per annum rate identified as such for such Mortgage Loan and
set forth in the Mortgage Loan Schedule.
BBA: The British Bankers' Association.
BIF: The Bank Insurance Fund of the FDIC, or its
successor in interest.
Book-Entry Certificate: Any Certificate registered in
the name of the Depository or its nominee, ownership of
which is reflected on the books of the Depository or on the
books of a person maintaining an account with such
Depository (directly or as an indirect participant in
accordance with the rules of such Depository). As of the
Closing Date, each Class of Certificates, other than the
Class B3, Class B4, Class B5, Class R, Class RL and Class PO
Certificates, constitutes a Class of Book-Entry Certificates.
Book-Entry Nominee: As defined in Section 5.02(b).
Business Day: Any day other than a Saturday or a
Sunday, or a day on which banking institutions in New York
City or the city in which the Corporate Trust Office is
located are authorized or obligated by law or executive
order to be closed.
Buydown Funds: Funds contributed by the Mortgagor or
another source in order to reduce the interest payments
required from the Mortgagor for a specified period in
specified amounts.
Buydown Mortgage Loan: Any Mortgage Loan as to which
the Mortgagor pays less than the full monthly payment
specified in the Mortgage Note during the Buydown Period and
the difference between the amount paid by the Mortgagor and
the amount specified in the Mortgage Note is paid from the
related Buydown Funds.
Buydown Period: The period during which Buydown Funds
are required to be applied to the related Buydown Mortgage
Loan.
Certificate: Any one of the certificates signed and
countersigned by the Trustee in substantially the forms
attached hereto as Exhibit A.
Certificate Account: The trust account or accounts
created and maintained with the Trustee pursuant to Section
3.02 and which must be an Eligible Account.
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Certificate Interest Loss: (i) On or prior to the
Cross-Over Date, any Interest Loss in respect of an Excess
Loss and (ii) after the Cross-Over Date, any Interest Loss,
in each case to the extent such Interest Loss is allocable
to the Certificates in accordance with Section 3.08(d) (with
respect to a Realized Loss) or the definition of Interest
Loss (with respect to the interest portion of a Debt Service
Reduction).
Certificate Interest Rate: With respect to any Class of
Certificates, other than the LIBOR Certificates, and as of
any Distribution Date, the per annum fixed rate specified in
Section 5.01(b). With respect to each Class of LIBOR
Certificates, the per annum variable rate at any time at
which interest accrues on the Certificates of such Class, as
determined pursuant to Section 5.01(e).
Certificate Owner: With respect to any Book-Entry
Certificate, the person who is the beneficial owner thereof.
Certificate Principal Balance: As to any Certificate
other than a Notional Certificate, and as of any
Distribution Date, the Initial Certificate Principal Balance
of such Certificate (plus, in the case of any Accrual
Certificate or any Certificate consisting of one or more
Accrual Components, its Percentage Interest of any related
Accrual Amount for each previous Distribution Date) less the
sum of (i) all amounts distributed with respect to such
Certificate in reduction of the Certificate Principal
Balance thereof on previous Distribution Dates pursuant to
Section 4.01, (ii) any Realized Losses allocated to such
Certificate on previous Distribution Dates pursuant to
Section 4.03(b) and (c), and (iii) in the case of a
Subordinate Certificate, such Certificate's Percentage
Interest of the Subordinate Certificate Writedown Amount
allocated to such Certificate on previous Distribution
Dates. The Notional Certificates are issued without
Certificate Principal Balances.
Certificate Register and Certificate Registrar: The
register maintained and the registrar appointed pursuant to
Section 5.02.
Certificateholder or Holder: The person in whose name a
Certificate is registered in the Certificate Register,
except that, solely for the purposes of giving any consent
pursuant to this Agreement, a Certificate of any Class to
the extent that the Company or any affiliate is the
Certificate Owner or Holder thereof (except to the extent
the Company or any affiliate thereof shall be the
Certificate Owner or Holder of all Certificates of such
Class), shall be deemed not to be outstanding and the
Percentage Interest (or Voting Rights) evidenced thereby
shall not be taken into account in determining whether the
requisite amount of Percentage Interests (or Voting Rights)
necessary to effect any such consent has been obtained;
provided, however, that in determining whether the Trustee
shall be protected in relying on such consent only the
Certificates that the Trustee knows to be so held shall be
so disregarded.
Class: All Certificates bearing the same class
designation or any Lower Tier Interest.
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Class A10 Percentage: As to any Distribution Date, the
percentage (carried to six places rounded up) obtained by
dividing the Class Certificate Principal Balance of the
Class A10 Certificates immediately prior to such
Distribution Date by an amount equal to the sum of the
Certificate Principal Balances of all the Senior
Certificates other than any Class PO Certificates
immediately prior to such Distribution Date.
Class B Certificate: Any Class B1, Class B2, Class B3,
Class B4 or Class B5 Certificate.
Class Certificate Principal Balance: As to any Class of
Certificates, other than any Class of Notional Certificates,
and as of any date of determination, the aggregate of the
Certificate Principal Balances of all Certificates of such
Class. The Class Certificate Principal Balance of each such
Class of Certificates as of the Closing Date is specified in
Section 5.01(b).
Class Interest Shortfall: As to any Distribution Date
and any Class of Certificates (other than any Class of
Principal Only Certificates or any Class consisting of
Specified Components) or any Specified Component, any amount
by which the amount distributed to Holders of such Class of
Certificates or in respect of such Specified Component (or
added to the Class Certificate Principal Balance of any
Class of Accrual Certificates or to the Component Principal
Balance of any Accrual Component constituting a Specified
Component) on such Distribution Date is less than the
Accrued Certificate Interest thereon or in respect thereof
for such Distribution Date. As to any Distribution Date and
any Class of Certificates consisting of Specified
Components, the sum of the Class Interest Shortfalls for
such Components on such date.
Class PO Deferred Amount: As to any Distribution Date
on or prior to the Cross-Over Date, the aggregate of the
applicable PO Percentage of the principal portion of each
Realized Loss, other than any Excess Loss, to be allocated
to the Class PO Certificates on such Distribution Date or
previously allocated to the Class PO Certificates and not
yet paid to the Holders of the Class PO Certificates
pursuant to Section 4.01(a)(iv).
Closing Date: September 24, 1998.
Code: The Internal Revenue Code of 1986, as it may be
amended from time to time, any successor statutes thereto,
and applicable U.S. Department of the Treasury temporary or
final regulations promulgated thereunder.
COFI: The monthly weighted average cost of funds for
savings institutions the home offices of which are located
in Arizona, California, or Nevada that are member
institutions of the Eleventh Federal Home Loan Bank
District, as computed from statistics tabulated and
published by the Federal Home Loan Bank of San Francisco in
its monthly Information Bulletin.
COFI Certificates: None.
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COFI Determination Date: As to each Interest Accrual
Period for any COFI Certificates, the last Business Day of
the calendar month preceding the commencement of such
Interest Accrual Period.
Company: GE Capital Mortgage Services, Inc., a
corporation organized and existing under the laws of the
State of New Jersey, or its successor in interest or, if any
successor servicer is appointed as herein provided, then
such successor servicer.
Compensating Interest Payment: With respect to any
Distribution Date, an amount equal to the aggregate of the
Interest Shortfalls described in clauses (a) and (b) of the
definition thereof with respect to such Distribution Date;
provided, however, that such amount shall not exceed the
lesser of (i) an amount equal to the product of (x) the Pool
Scheduled Principal Balance with respect to such
Distribution Date and (y) one-twelfth of 0.125%, and (ii)
the aggregate of the Base Servicing Fees that the Company
would be entitled to retain on such Distribution Date (less
any portion thereof paid as servicing compensation to any
Primary Servicer) without giving effect to any Compensating
Interest Payment.
Component: Any of the components of a Class of
Component Certificates having the designations, initial
Component Principal Balances (or Notional Component
Balances) and Component Interest Rates as follows:
Initial Component
Principal Balance
or Notional Component
Designation Component Balance Interest Rate
- ----------- ----------------- -------------
Class A7A IO $95,045,000* 0.50%
Class A7B IO 80,580,000* 0.40%
Class A7C IO 132,782,000* 0.25%
Class A7D Accrual 75,000,000 6.75%
Class A12A PAC 4,921,000 N/A
Class A12B TAC 95,079,000 N/A
- --------------
* Notional Component Balance.
Component Certificate: Any Class A7 Certificate and any
Class A12 Certificate.
Component Interest Rate: With respect to any Component,
other than a Principal Only Component, and as of any
Distribution Date, the per annum fixed rate specified for
such Component in the definition of the term "Component."
-----------------------
Component Principal Balance: As of any Distribution
Date, and with respect to any Component, other than any
Notional Component, the initial Component Principal Balance
thereof (as set forth, as applicable, in the definition of
Component) (plus, in the case of any Accrual Component, any
related Accrual Amount for each previous Distribution Date)
less the sum of (x) all amounts distributed in reduction
thereof on
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previous Distribution Dates pursuant to Section 4.01 and (y)
the amount of all Realized Losses allocated thereto pursuant
to Section 4.03(d).
Confirmatory Mortgage Note: With respect to any
Mortgage Loan, a note or other evidence of indebtedness
executed by the Mortgagor confirming its obligation under
the note or other evidence of indebtedness previously
executed by the Mortgagor upon the origination of the
related Mortgage Loan.
Cooperative: A private, cooperative housing corporation
organized in accordance with applicable state laws which
owns or leases land and all or part of a building or
buildings located in the relevant state, including
apartments, spaces used for commercial purposes and common
areas therein and whose board of directors authorizes, among
other things, the sale of Cooperative Stock.
Cooperative Apartment: A dwelling unit in a
multi-dwelling building owned or leased by a Cooperative,
which unit the Mortgagor has an exclusive right to occupy
pursuant to the terms of one or more Proprietary Leases.
Cooperative Loans: Any of the Mortgage Loans made in
respect of a Cooperative Apartment, evidenced by a Mortgage
Note and secured by (i) a Security Agreement, (ii) the
related Cooperative Stock Certificate(s), (iii) an
assignment of the Proprietary Lease(s), (iv) financing
statements and (v) a stock power (or other similar
instrument), and in addition thereto, a recognition
agreement between the Cooperative and the originator of the
Cooperative Loan, each of which was transferred and assigned
to the Trustee pursuant to Section 2.01 and are from time to
time held as part of the Trust Fund. The Mortgage Loans
identified in Exhibit C hereto are Cooperative Loans.
Cooperative Stock: With respect to a Cooperative Loan,
the single outstanding class of stock, partnership interest
or other ownership instrument in the related Cooperative.
Cooperative Stock Certificate: With respect to a
Cooperative Loan, the stock certificate(s) or other
instrument evidencing the related Cooperative Stock.
Corporate Trust Office: The principal office of the
Trustee at which at any particular time its corporate trust
business shall be administered, which office at the date of
the execution of this instrument is located at Two
International Place, Boston, Massachusetts 02110, Attention:
Corporate Trust Department.
Corresponding Class: With respect to any Class of Lower
Tier Interests, the Class or Classes of Certificates, and
with respect to any Class of Certificates, the Class or
Classes of Lower Tier Interests, appearing opposite such
Class of Lower Tier Interests or Certificates in the table
included in Section 2.05(a).
Corresponding Component: With respect to any Class of
Lower Tier Interests, the Component or Components of a Class
of Certificates, and with respect to any Component or
Components of a Class of Certificates, the Class or Classes
of Lower Tier
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Interests, appearing opposite such Class of
Lower Tier Interests or Components in the table included in
Section 2.05(a).
Cross-Over Date: The first Distribution Date on which
the aggregate Class Certificate Principal Balance of the
Junior Certificates has been reduced to zero (giving effect
to all distributions on such Distribution Date).
Cut-off Date: September 1, 1998.
Debt Service Reduction: As to any Mortgage Loan and any
Determination Date, the excess of (a) the then current
Monthly Payment for such Mortgage Loan over (b) the amount
of the monthly payment of principal and interest required to
be paid by the Mortgagor as established by a court of
competent jurisdiction as a result of a proceeding initiated
by or against the related Mortgagor under the Bankruptcy
Code, as amended from time to time (11 U.S.C.).
Defaulted Mortgage Loan: With respect to any
Determination Date, a Mortgage Loan as to which the related
Mortgagor has failed to make unexcused payment in full of a
total of three or more consecutive installments of principal
and interest, and as to which such delinquent installments
have not been paid, as of the close of business on the last
Business Day of the month next preceding the month of such
Determination Date.
Defective Mortgage Loan: Any Mortgage Loan which is
required to be purchased by the Company (or which the
Company may replace with a substitute Mortgage Loan)
pursuant to Section 2.02 or 2.03(a).
Deficient Valuation: As to any Mortgage Loan and any
Determination Date, the excess of (a) the then outstanding
indebtedness under such Mortgage Loan over (b) the valuation
by a court of competent jurisdiction of the related
Mortgaged Property as a result of a proceeding initiated by
or against the related Mortgagor under the Bankruptcy Code,
as amended from time to time (11 U.S.C.), pursuant to which
such Mortgagor retained such Mortgaged Property.
Definitive Certificate: Any Certificate, other than a
Book-Entry Certificate, issued in definitive, fully
registered form.
Definitive Restricted Junior Certificate: Any
Restricted Junior Certificate that is in the form of a
Definitive Certificate.
Depository: The initial Depository shall be The
Depository Trust Company, the nominee of which is CEDE & Co.
The Depository shall at all times be a "clearing
corporation" as defined in Section 8-102(3) of the Uniform
Commercial Code of the State of New York, as amended, or any
successor provisions thereto.
Depository Participant: A broker, dealer, bank or other
financial institution or other Person for which, from time
to time, the Depository effects book-entry transfers and
pledges of securities deposited with such Depository.
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Designated Loan Closing Documents: With respect to any
Designated Loan, a Lost Note Affidavit substantially in the
form of Exhibit L, and an assignment of the related Mortgage
to the Trustee in recordable form (except for the omission
therein of recording information concerning such Mortgage).
Designated Loans: None.
Designated Telerate Page: The Dow Jones Telerate
Service page 3750 (or such other page as may replace page
3750 on that service or such other service as may be
nominated by the BBA for the purpose of displaying the
Interest Settlement Rates).
Determination Date: With respect to any Distribution
Date, the fifth Business Day prior thereto.
Discount Mortgage Loan: Any Mortgage Loan with a Net
Mortgage Rate less than 6.75% per annum.
Disqualified Organization: Any of the following: (i)
the United States, any State or political subdivision
thereof, or any agency or instrumentality of any of the
foregoing (including but not limited to state pension
organizations); (ii) a foreign government, International
Organization or any agency or instrumentality of either of
the foregoing; (iii) an organization (except certain
farmers' cooperatives described in Code section 521) which
is exempt from tax imposed by Chapter 1 of the Code
(including the tax imposed by section 511 of the Code on
unrelated business taxable income); and (iv) a rural
electric and telephone cooperative described in Code section
1381(a)(2)(C). The terms "United States," "State" and
"International Organization" shall have the meanings set
forth in Code section 7701 or successor provisions. A
corporation will not be treated as an instrumentality of the
United States or of any State or political subdivision
thereof for these purposes if all of its activities are
subject to tax and a majority of its board of directors is
not selected by such governmental unit.
Distribution Date: The 25th day of each calendar month
after the month of initial issuance of the Certificates, or,
if such 25th day is not a Business Day, the next succeeding
Business Day.
Distribution Date Statement: The statement referred to
in Section 4.05(a).
Document File: As defined in Section 2.01.
Due Date: The first day of the month of the related
Distribution Date.
Eligible Account: An account that is either (i)
maintained with a depository institution the debt
obligations of which have been rated by each Rating Agency
in one of its two highest long-term rating categories and
has been assigned by S&P its highest short-term rating, (ii)
an account or accounts the deposits in which are fully
insured by either the BIF or the SAIF, (iii) an account or
accounts, in a depository institution in which such accounts
are insured by the BIF or the SAIF (to the limits
established by the FDIC), the uninsured deposits in which
accounts are either invested in Permitted
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Investments or are otherwise secured to the extent required
by the Rating Agencies such that, as evidenced by an Opinion
of Counsel delivered to the Trustee, the Certificateholders
have a claim with respect to the funds in such account or a
perfected first security interest against any collateral
(which shall be limited to Permitted Investments) securing
such funds that is superior to claims of any other
depositors or creditors of the depository institution with
which such account is maintained, (iv) a trust account
maintained with the corporate trust department of a federal
or state chartered depository institution or of a trust
company with trust powers and acting in its fiduciary
capacity for the benefit of the Trustee hereunder or (v)
such account as will not cause either Rating Agency to
downgrade or withdraw its then-current rating assigned to
the Certificates, as evidenced in writing by the Rating
Agencies.
ERISA: The Employee Retirement Income Security Act of
1974, as amended.
ERISA-Restricted Certificate: Any Junior or Class A8
Certificate.
Event of Default: An event described in Section 7.01.
Excess Bankruptcy Loss: Any Deficient Valuation or Debt
Service Reduction, or portion thereof, (i) occurring after
the Bankruptcy Coverage Termination Date or (ii) if on such
date, in excess of the then-applicable Bankruptcy Loss
Amount.
Excess Fraud Loss: Any Fraud Loss, or portion thereof,
(i) occurring after the Fraud Coverage Termination Date or
(ii) if on such date, in excess of the then-applicable Fraud
Loss Amount.
Excess Loss: Any Excess Bankruptcy Loss, Excess Fraud
Loss or Excess Special Hazard Loss.
Excess Special Hazard Loss: Any Special Hazard Loss, or
portion thereof, (i) occurring after the Special Hazard
Termination Date or (ii) if on such date, in excess of the
then-applicable Special Hazard Loss Amount.
FDIC: The Federal Deposit Insurance Corporation, or its
successor in interest.
FHLMC: The Federal Home Loan Mortgage Corporation or
its successor in interest.
Financial Intermediary: A broker, dealer, bank or other
financial institution or other Person that clears through or
maintains a custodial relationship with a Depository
Participant.
Fitch: Fitch IBCA, Inc. and its successors.
Fitch Formula Amount: As to each Anniversary
Determination Date, the greater of (i) $50,000 and (ii) the
product of (x) the greatest Assumed Monthly Payment
Reduction for any Non-Primary Residence Loan whose original
principal balance was 80% or greater of the Original Value
thereof, (y) the weighted average remaining term to
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maturity (expressed in months) of all the Non-Primary
Residence Loans remaining in the Mortgage Pool as of such
Anniversary Determination Date, and (z) the sum of (A) one
plus (B) the number of all remaining Non-Primary Residence
Loans divided by the total number of Outstanding Mortgage
Loans as of such Anniversary Determination Date.
FNMA: The Federal National Mortgage Association or its
successor in interest.
Formula Amount: As to each Anniversary Determination
Date, the greater of (i) $100,000 and (ii) the product of
(x) 0.06% and (y) the Scheduled Principal Balance of each
Mortgage Loan remaining in the Mortgage Pool whose original
principal balance was 75% or greater of the Original Value
thereof.
Fraud Coverage Termination Date: The Distribution Date
upon which the related Fraud Loss Amount has been reduced to
zero or a negative number (or the Cross-Over Date, if
earlier).
Fraud Loss: Any Realized Loss attributable to fraud in
the origination of the related Mortgage Loan.
Fraud Loss Amount: As of any Distribution Date after
the Cut-off Date, (x) prior to the first anniversary of the
Cut-off Date, an amount equal to $5,259,116 minus the
aggregate amount of Fraud Losses that would have been
allocated to the Junior Certificates in accordance with
Section 4.03 in the absence of the Loss Allocation
Limitation since the Cut-off Date, and (y) from the first to
the fifth anniversary of the Cut-off Date, an amount equal
to (1) the lesser of (a) the Fraud Loss Amount as of the
most recent anniversary of the Cut-off Date and (b) 1% (from
the first to but excluding the third anniversaries of the
Cut-off Date) or 0.5% (from and including the third to but
excluding the fifth anniversaries of the Cut-off Date) of
the aggregate outstanding principal balance of all of the
Mortgage Loans as of the most recent anniversary of the
Cut-off Date minus (2) the Fraud Losses that would have been
allocated to the Junior Certificates in accordance with
Section 4.03 in the absence of the Loss Allocation
Limitation since the most recent anniversary of the Cut-off
Date. On or after the fifth anniversary of the Cut-off Date
the Fraud Loss Amount shall be zero.
Group I Final Distribution Date: The Distribution Date
on which the aggregate Certificate Principal Balance of the
Group I Senior Certificates is reduced to zero.
Group I Senior Certificate: Any Class A1, Class A2,
Class A3, Class A4, Class A5, Class A6, Class A7, Class A9,
Class A11, Class A12, Class R or Class RL Certificate.
Group II Senior Certificate: Any Class A8 Certificate.
Group II Senior Percentage: With respect to any
Distribution Date, the percentage (carried to six decimal
places) obtained by dividing (x) the aggregate Certificate
Principal Balance of the Group II Senior Certificates
immediately preceding such Distribution Date, by (y) the
aggregate Certificate Principal Balance of all the
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Senior Certificates (other than the Class PO Certificates)
immediately preceding such Distribution Date.
Group II Senior Prepayment Distribution Percentage: 0%
through the Distribution Date in September 2003; 30%
thereafter through the Distribution Date in September 2004;
40% thereafter through the Distribution Date in September
2005; 60% thereafter through the Distribution Date in
September 2006; 80% thereafter through the Distribution Date
in September 2007; and 100% thereafter.
Group II Senior Principal Distribution Amount: With
respect to any Distribution Date, the sum of (a) the total
of the amounts described in clauses (i) and (iii) of the
definition of Senior Optimal Principal Amount for such date
multiplied by the Group II Senior Percentage for such date
and (b) the total of the amounts described in clauses (ii),
(iv) and (v) of the definition of Senior Optimal Principal
Amount (calculated not on the basis of the of the Senior
Prepayment Percentage but rather on the basis of the Senior
Percentage) for such date multiplied by the product of (x)
the Group II Senior Percentage for such date and (y) the
Group II Senior Prepayment Distribution Percentage for such
date; provided, however, that (i) on the Group I Final
Distribution Date, the Group II Senior Principal
Distribution Amount will be increased by any remaining
amounts pursuant to clause (a)(ii)(B) of priority third of
the Senior Principal Priorities after distributions of
principal have been made on the Group I Senior Certificates
and (ii) following the Group I Final Distribution Date, the
Group II Senior Principal Distribution Amount will equal the
amount pursuant to clause (a)(ii) of priority third of the
Senior Principal Priorities.
Initial Certificate Principal Balance: With respect to
any Certificate, other than a Notional Certificate, the
Certificate Principal Balance of such Certificate or any
predecessor Certificate on the Closing Date.
Initial LIBOR Rate: 5.648%
Insurance Proceeds: Proceeds paid pursuant to the
Primary Insurance Policies, if any, and amounts paid by any
insurer pursuant to any other insurance policy covering a
Mortgage Loan.
Insured Expenses: Expenses covered by the Primary
Insurance Policies, if any, or any other insurance policy or
policies applicable to the Mortgage Loans.
Interest Accrual Period: With respect to any
Distribution Date and any Class of Certificates (other than
any Class of Principal Only Certificates) or Specified
Component, the one-month period ending on the last day of
the month preceding the month in which such Distribution
Date occurs. The Interest Accrual Period for each Class of
Lower Tier Interests shall be the Interest Accrual Period
for such Class of Lower Tier Interest's Corresponding Class
(or Classes).
Interest Loss: (i) With respect to any Realized Loss,
the excess of accrued and unpaid interest due on the related
Mortgage Loan over the amount allocated to interest
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thereon in accordance with Section 3.08(d), and (ii) with
respect to any Debt Service Reduction and any calendar
month, the reduction in the amount of interest due on the
related Mortgage Loan during such month as a result of the
relevant bankruptcy proceeding.
The amount of any Interest Loss described in clause (i)
of the preceding paragraph will be allocated among the Base
Servicing Fee, the Supplemental Servicing Fee and the
Certificates in accordance with Section 3.08(d). The amount
of any Interest Loss described in clause (ii) of the
preceding paragraph will be allocated among the Base
Servicing Fee, the Supplemental Servicing Fee and the
Certificates in proportion to the amount of interest that
would have been allocated to the Base Servicing Fee at the
Base Servicing Fee Rate, the Supplemental Servicing Fee at
the Supplemental Servicing Fee Rate and interest at the
Remittance Rate, respectively, in the absence of the Debt
Service Reduction.
Interest Settlement Rate: With respect to any Interest
Accrual Period, the rate (expressed as a percentage per
annum) for one-month U.S. Dollar deposits reported by the
BBA at 11:00 a.m. London time on the related LIBOR
Determination Date and as it appears on the Designated
Telerate Page.
Interest Shortfall: With respect to any Distribution
Date and each Mortgage Loan that during the related
Prepayment Period was the subject of a Voluntary Principal
Prepayment or constitutes a Relief Act Mortgage Loan, an
amount determined as follows:
(A) partial principal prepayments: one month's
interest at the applicable Net Mortgage Rate on the
amount of such prepayment;
(B) principal prepayments in full received on or
after the sixteenth day of the month preceding the
month of such Distribution Date (or, in the case of the
first Distribution Date, on or after the Cut-off Date)
but on or before the last day of the month preceding
the month of such Distribution Date, the difference
between (i) one month's interest at the applicable Net
Mortgage Rate on the Scheduled Principal Balance of
such Mortgage Loan immediately prior to such prepayment
and (ii) the amount of interest for the calendar month
of such prepayment (adjusted to the applicable Net
Mortgage Rate) received at the time of such prepayment;
(C) principal prepayments in full received by the
Company (or of which the Company receives notice, in
the case of a Mortgage Loan serviced by a Primary
Servicer) on or after the first day but on or before
the fifteenth day of the month of such Distribution
Date: none; and
(D) Relief Act Mortgage Loans: As to any Relief
Act Mortgage Loan, the excess of (i) 30 days' interest
(or, in the case of a Principal Prepayment in full,
interest to the date of prepayment) on the Scheduled
Principal Balance thereof (or, in the case of a
Principal Prepayment in part, on the amount so prepaid) at
the related Net Mortgage Rate over (ii) 30 days' interest
(or, in the case of a Principal
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Prepayment in full, interest to the date of prepayment)
on such Scheduled Principal Balance (or, in the case of
a Principal Prepayment in part, on the amount so
prepaid) at the Net Mortgage Rate required to be paid
by the Mortgagor as limited by application of the
Relief Act.
For purposes of the definitions of Net Interest
Shortfall and Supplemental Servicing Fee, the amount of any
Interest Shortfall shall be allocated between the
Certificates and the Supplemental Servicing Fee in
proportion to the amount of interest that would have been
allocated to the Certificates (at the Remittance Rate) and
the Supplemental Servicing Fee (at the Supplemental
Servicing Fee Rate), respectively, in the absence of such
Interest Shortfall.
Junior Certificate: Any Class M or Class B Certificate.
Junior Optimal Principal Amount: As to any Distribution
Date, an amount equal to the sum of the following (but in no
event greater than the aggregate Certificate Principal
Balance of the Junior Certificates immediately prior to such
Distribution Date):
(i) the Junior Percentage of the applicable Non-PO
Percentage of the principal portion of each Monthly Payment
due on the related Due Date on each Outstanding Mortgage
Loan as of such Due Date as specified in the amortization
schedule at the time applicable thereto (after adjustment
for previous Principal Prepayments and the principal portion
of Debt Service Reductions subsequent to the Bankruptcy
Coverage Termination Date but before any adjustment to such
amortization schedule by reason of any bankruptcy (other
than as aforesaid) or similar proceeding or any moratorium
or similar waiver or grace period);
(ii) the Junior Prepayment Percentage of the applicable
Non-PO Percentage of all principal prepayments in part
received during the related Prepayment Period, and 100% of
any Senior Optimal Principal Amount not distributed to the
Senior Certificates on such Distribution Date, together with
the Junior Prepayment Percentage of the applicable Non-PO
Percentage of the Scheduled Principal Balance of each
Mortgage Loan which was the subject of a Voluntary Principal
Prepayment in full during the related Prepayment Period;
(iii) the excess, if any, of (x) the applicable Non-PO
Percentage of the sum of (A) all Net Liquidation Proceeds
allocable to principal received during the related
Prepayment Period (other than in respect of Mortgage Loans
described in clause (B)) and (B) the principal balance of
each Mortgage Loan that was purchased by an insurer from the
Trustee during the related Prepayment Period pursuant to the
related Primary Insurance Policy, over (y) the amount
distributable pursuant to clause (iii) of the definition of
Senior Optimal Principal Amount on such Distribution Date;
(iv) the Junior Prepayment Percentage of the applicable
Non-PO Percentage of the Scheduled Principal Balance of each
Mortgage Loan which was purchased on such Distribution Date
pursuant to Section 2.02, 2.03(a) or 3.16; and
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(v) the Junior Prepayment Percentage of the applicable
Non-PO Percentage of the Substitution Amount for any Mortgage
Loan substituted during the month of such Distribution Date.
For purposes of clause (ii) above, a Voluntary
Principal Prepayment in full with respect to a Mortgage Loan
serviced by a Primary Servicer shall be deemed to have been
received when the Company, as servicer, receives notice
thereof.
After the Class Certificate Principal Balances of the
Junior Certificates have been reduced to zero, the Junior
Optimal Principal Amount shall be zero.
Junior Percentage: As to any Distribution Date, the
excess of 100% over the Senior Percentage for such
Distribution Date.
Junior Prepayment Percentage: As to any Distribution
Date, the excess of 100% over the Senior Prepayment
Percentage for such Distribution Date, except that (i) after
the aggregate Certificate Principal Balance of the Senior
Certificates other than the Class PO Certificates has been
reduced to zero, the Junior Prepayment Percentage shall be
100%, and (ii) after the Cross-Over Date, the Junior
Prepayment Percentage shall be zero.
Latest Possible Maturity Date: September 25, 2030.
LIBOR: With respect to any Interest Accrual Period, the
per annum rate determined, pursuant to Section 5.08, on the
basis of the Interest Settlement Rate or as otherwise
provided in such Section.
LIBOR Certificate: Any Class A5 or Class A6
Certificate.
LIBOR Determination Date: The second London Banking Day
immediately preceding the commencement of each Interest
Accrual Period for any LIBOR Certificates.
Liquidated Mortgage Loan: Any defaulted Mortgage Loan
as to which the Company has determined that all amounts
which it expects to recover on behalf of the Trust Fund from
or on account of such Mortgage Loan have been recovered,
including any Mortgage Loan with respect to which the
Company determines not to foreclose upon the related
Mortgaged Property based on its belief that such Mortgaged
Property may be contaminated with or affected by hazardous
or toxic wastes, materials or substances.
Liquidation Expenses: Expenses which are incurred by
the Company in connection with the liquidation of any
defaulted Mortgage Loan and not recovered by the Company
under any Primary Insurance Policy for reasons other than
the Company's failure to comply with Section 3.05, such
expenses including, without limitation, legal fees and
expenses, and, regardless of when incurred, any unreimbursed
amount expended by the Company pursuant to Section 3.03 or
Section 3.06 respecting the related Mortgage Loan and any
related and unreimbursed Property Protection Expenses.
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Liquidation Proceeds: Cash (other than Insurance
Proceeds) received in connection with the liquidation of any
defaulted Mortgage Loan whether through judicial foreclosure
or otherwise.
Loan-to-Value Ratio: With respect to each Mortgage
Loan, the original principal amount of such Mortgage Loan,
divided by the Original Value of the related Mortgaged
Property.
London Banking Day: Any day on which banks are open for
dealing in foreign currency and exchange in London, England.
Loss Allocation Limitation: As defined in Section
4.03(g).
Lower Tier Balance: As to each Class of Lower Tier
Interests and any Distribution Date, the initial Lower Tier
Balance thereof set forth or specified in Section 2.05(a)
(plus, in the case of any Class of Lower Tier Interests as
to which the Corresponding Class is a Class of Accrual
Certificates or includes one or more Accrual Components, an
amount equal to the Accrual Amount for such Corresponding
Class or each such Accrual Component for each previous
Distribution Date) less the sum of (i) the aggregate amount
of principal allocable thereto on previous Distribution
Dates pursuant to Section 2.05(c) and (ii) any Realized
Losses or Subordinate Certificate Writedown Amount allocated
thereto on previous Distribution Dates.
Lower Tier Interest: Any one of the Classes of regular
interests in the Lower Tier REMIC described as such in
Section 2.05(a).
Lower Tier Interest Rate: As to each Lower Tier
Interest, the applicable "Lower Tier Interest Rate," if any,
set forth in Section 2.05(a).
Lower Tier REMIC: One of the two separate REMICs
comprising the Trust Fund, the assets of which consist of
the assets and rights specified in clauses (i) through
(viii) and (x) of the definition of the term Trust Fund.
MLCC: Merrill Lynch Credit Corporation, or its
successor in interest.
Monthly Advance: With respect to any Distribution Date,
the aggregate of the advances required to be made by the
Company pursuant to Section 4.04(a) (or by the Trustee
pursuant to Section 4.04(b)) on such Distribution Date, the
amount of any such Monthly Advance being equal to (a) the
aggregate of payments of principal and interest (adjusted to
the related Remittance Rate) on the Mortgage Loans that were
due on the related Due Date, without regard to any
arrangements entered into by the Company with the related
Mortgagors pursuant to Section 3.02(a)(ii), and delinquent
as of the close of business on the Business Day next
preceding the related Determination Date, less (b) the
amount of any such payments which the Company or the
Trustee, as applicable, in its reasonable judgment believes
will not be ultimately recoverable by it either out of late
payments by the Mortgagor, Net Liquidation Proceeds,
Insurance Proceeds, REO Proceeds or otherwise. With respect
to any Mortgage Loan, the portion of any such advance or
advances made with respect thereto.
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Monthly Payment: The scheduled monthly payment on a
Mortgage Loan for any month allocable to principal or
interest on such Mortgage Loan.
Moody's: Moody's Investors Service, Inc. and its
successors.
Mortgage: The mortgage or deed of trust creating a
first lien on a fee simple interest or leasehold estate in
real property securing a Mortgage Note.
Mortgage 100SM Loan: A Mortgage Loan identified on
Exhibit N hereof that has a Loan-to-Value Ratio at origination
in excess of 80.00% and that is secured by Additional
Collateral and does not have a Primary Insurance Policy.
Mortgage File: The mortgage documents listed in Section
2.01 pertaining to a particular Mortgage Loan and any
additional documents required to be added to such documents
pursuant to this Agreement.
Mortgage Loan Payment Record: The record maintained by
the Company pursuant to Section 3.02(b).
Mortgage Loan Schedule: As of any date of
determination, the schedule of Mortgage Loans included in
the Trust Fund. The initial schedule of Mortgage Loans as of
the Cut-off Date is attached hereto as Exhibit C.
Mortgage Loans: As of any date of determination, each
of the mortgage loans identified on the Mortgage Loan
Schedule (as amended pursuant to Section 2.03(b)) delivered
and assigned to the Trustee pursuant to Section 2.01 or
2.03(b), and not theretofore released from the Trust Fund by
the Trustee.
Mortgage Note: With respect to any Mortgage Loan, the
note or other evidence of indebtedness (which may consist of
a Confirmatory Mortgage Note) evidencing the indebtedness of
a Mortgagor under such Mortgage Loan.
Mortgage Pool: The aggregate of the Mortgage Loans
identified in the Mortgage Loan Schedule.
Mortgage Rate: The per annum rate of interest borne by
a Mortgage Loan as set forth in the related Mortgage Note.
Mortgaged Property: The underlying real property
securing the Mortgage Loan, or with respect to a Cooperative
Loan, the related Proprietary Lease and Cooperative Stock.
Mortgagor: With respect to any Mortgage Loan, each
obligor on the related Mortgage Note.
Net Interest Shortfall: With respect to any
Distribution Date, the excess, if any, of the aggregate
Interest Shortfalls allocable to the Certificates (as
determined in accordance
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with the definition of Interest Shortfall) for such
Distribution Date over any Compensating Interest Payment for
such date.
Net Liquidation Proceeds: As to any Liquidated Mortgage
Loan, the sum of (i) any Liquidation Proceeds therefor less
the related Liquidation Expenses, and (ii) any Insurance
Proceeds therefor, other than any such Insurance Proceeds
applied to the restoration of the related Mortgaged
Property.
Net Mortgage Rate: With respect to any Mortgage Loan,
the related Mortgage Rate less the applicable Base Servicing
Fee Rate.
Non-BookEntry Certificate: Any Certificate other than a
BookEntry Certificate.
Non-Credit Loss: Any Fraud Loss, Special Hazard Loss or
Deficient Valuation.
Non-Discount Mortgage Loan: Any Mortgage Loan with a Net
Mortgage Rate greater than or equal to 6.75% per annum.
Non-permitted Foreign Holder: As defined in Section
5.02(b).
Non-PO Percentage: As to any Discount Mortgage Loan, a
fraction (expressed as a percentage), the numerator of which
is the Net Mortgage Rate of such Discount Mortgage Loan and
the denominator of which is 6.75%. As to any Non-Discount
Mortgage Loan, 100%.
Non-Primary Residence Loan: Any Mortgage Loan secured
by a Mortgaged Property that is (on the basis of
representations made by the Mortgagors at origination) a
second home or investor-owned property.
Nonrecoverable Advance: All or any portion of any
Monthly Advance or Monthly Advances previously made by the
Company (or the Trustee) which, in the reasonable judgment
of the Company (or, as applicable, the Trustee) will not be
ultimately recoverable from related Net Liquidation
Proceeds, Insurance Proceeds, REO Proceeds or otherwise. The
determination by the Company that it has made a
Nonrecoverable Advance or that any advance, if made, would
constitute a Nonrecoverable Advance, shall be evidenced by
an Officer's Certificate of the Company delivered to the
Trustee and detailing the reasons for such determination.
Non-U.S. Person: As defined in Section 4.02(c).
Notional Certificate: None.
Notional Component: Any Class A7A IO, Class A7B IO or
Class A7C IO Component.
Notional Component Balance: As to any Distribution Date
and the Class A7A IO Component, the sum of (i) the Class
Certificate Principal Balance of the Class A1 Certificates
for such Distribution Date, (ii) the Class Certificate
Principal Balance of the
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Class A11 Certificates for such Distribution Date and (iii)
the Component Principal Balance of the Class A12A PAC
Component for such Distribution Date. As to any Distribution
Date and the Class A7B IO Component, the sum of (i) the
Class Certificate Principal Balance of the Class A2
Certificates for such Distribution Date and (ii) the Class
Certificate Principal Balance of the Class A3 Certificates
for such Distribution Date. As to any Distribution Date and
the Class A7C IO Component, the sum of (i) the Class
Certificate Principal Balance of the Class A4 Certificates
for such Distribution Date and (ii) the Component Principal
Balance of the Class A12B TAC Component for such
Distribution Date.
Notional Principal Balance: None.
Officer's Certificate: A certificate signed by the
President, a Senior Vice President or a Vice President of
the Company and delivered to the Trustee.
Opinion of Counsel: A written opinion of counsel, who
may be counsel for the Company; provided, however, that any
Opinion of Counsel with respect to the interpretation or
application of the REMIC Provisions or the status of an
account as an Eligible Account shall be the opinion of
independent counsel satisfactory to the Trustee.
Original Subordinate Principal Balance: As set forth in
the definition of Senior Prepayment Percentage.
Original Value: The value of the property underlying a
Mortgage Loan based, in the case of the purchase of the
underlying Mortgaged Property, on the lower of an appraisal
satisfactory to the Company or the sales price of such
property or, in the case of a refinancing, on an appraisal
satisfactory to the Company.
Outstanding Mortgage Loan: With respect to any Due
Date, a Mortgage Loan which, prior to such Due Date, was not
the subject of a Principal Prepayment in full, did not
become a Liquidated Mortgage Loan and was not purchased
pursuant to Section 2.02, 2.03(a) or 3.16 or replaced
pursuant to Section 2.03(b).
Outstanding Non-Discount Mortgage Loan: Any Outstanding
Mortgage Loan that is a Non-Discount Mortgage Loan.
PAC Certificate: Any Class A1, Class A2, Class A3,
Class A11 or Class A12 Certificate (in the latter instance,
solely in respect of the Class A12A PAC Component).
Parent PowerSM Loan: A Mortgage Loan identified on
Exhibit N hereto that has a Loan-to-Value Ratio at origination
in excess of 80.00%, that is supported by Additional
Collateral and does not have a Primary Insurance Policy.
Pay-out Rate: With respect to any Class of Certificates
(other than any Class of Principal Only Certificates) and
any Distribution Date, the rate at which interest is
distributed on such Class on such Distribution Date and
which is equal to a fraction (expressed as an annualized
percentage) the numerator of which is the Accrued
Certificate Interest for such Class and Distribution Date,
and the denominator of which is
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the Class Certificate Principal Balance (or, in the case of
the Notional Certificates, the Notional Principal Balance)
of such Class immediately prior to such Distribution Date.
Percentage Interest: With respect to any Certificate,
the percentage interest in the undivided beneficial
ownership interest in the Trust Fund evidenced by
Certificates of the same Class as such Certificate. With
respect to any Certificate, the Percentage Interest
evidenced thereby shall equal the Initial Certificate
Principal Balance (or, in the case of a Notional
Certificate, the initial Notional Principal Balance) thereof
divided by the aggregate Initial Certificate Principal
Balance (or, in the case of a Notional Certificate, the
aggregate initial Notional Principal Balance) of all
Certificates of the same Class.
Permitted Investments: One or more of the following;
provided, however, that no such Permitted Investment may
mature later than the Business Day preceding the
Distribution Date after such investment except as otherwise
provided in Section 3.02(e) hereof, provided, further, that
such investments qualify as "cash flow investments" as
defined in section 860G(a)(6) of the Code:
(i) obligations of, or guaranteed as to timely receipt
of principal and interest by, the United States or any
agency or instrumentality thereof when such obligations are
backed by the full faith and credit of the United States;
(ii) repurchase agreements on obligations specified in
clause (i) provided that the unsecured obligations of the
party agreeing to repurchase such obligations are at the
time rated by each Rating Agency in the highest long-term
rating category;
(iii) federal funds, certificates of deposit, time
deposits and banker's acceptances, of any U.S. depository
institution or trust company incorporated under the laws of
the United States or any state provided that the debt
obligations of such depository institution or trust company
at the date of acquisition thereof have been rated by each
Rating Agency in the highest longterm rating category;
(iv) commercial paper of any corporation incorporated
under the laws of the United States or any state thereof
which on the date of acquisition has the highest short term
rating of each Rating Agency; and
(v) other obligations or securities that are acceptable
to each Rating Agency as a Permitted Investment hereunder
and will not, as evidenced in writing, result in a reduction
or withdrawal in the then current rating of the
Certificates.
Notwithstanding the foregoing, Permitted Investments
shall not include "stripped securities" and investments
which contractually may return less than the purchase price
therefor.
Person: Any legal person, including any individual,
corporation, partnership, limited liability company, joint
venture, association, jointstock company, trust,
unincorporated organization or government or any agency or
political subdivision thereof.
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Plan: Any Person which is an employee benefit plan
subject to ERISA or a plan subject to section 4975 of the
Code.
Pledged Asset Loan-to-Value Ratio: With respect to any
Pledged Asset Mortgage Loan, (i) the original loan amount
less the portion of any required Additional Collateral which
is covered by the Surety Bond, divided by (ii) the Original
Value of the related Mortgaged Property.
Pledged Asset Mortgage Loan: Each Mortgage 100SM Loan
and Parent PowerSM Loan purchased from MLCC that is
supported by Additional Collateral and identified on Exhibit
N hereto.
Pledged Asset Mortgage Servicing Agreement: The Amended
and Restated Pledged Asset Mortgage Servicing Agreement,
dated as of June 2, 1998 between MLCC and the Company.
PO Percentage: As to any Discount Mortgage Loan, a
fraction (expressed as a percentage), the numerator of which
is the excess of 6.75% over the Net Mortgage Rate of such
Discount Mortgage Loan and the denominator of which is
6.75%. As to any Non-Discount Mortgage Loan, 0%.
PO Principal Distribution Amount: As to any
Distribution Date, an amount equal to the sum of the
applicable PO Percentage of:
(i) the principal portion of each Monthly Payment due
on the related Due Date on each Outstanding Mortgage Loan as
of such Due Date as specified in the amortization schedule
at the time applicable thereto (after adjustments for
previous Principal Prepayments and the principal portion of
Debt Service Reductions subsequent to the Bankruptcy
Coverage Termination Date but before any adjustment to such
amortization schedule by reason of any bankruptcy (except as
aforesaid) or similar proceeding or any moratorium or
similar waiver or grace period);
(ii) all principal prepayments in part received during
the related Prepayment Period, together with the Scheduled
Principal Balance (as reduced by any Deficient Valuation
occurring on or prior to the Bankruptcy Coverage Termination
Date) of each Mortgage Loan which was the subject of a
Voluntary Principal Prepayment in full during the related
Prepayment Period;
(iii) the sum of (A) all Net Liquidation Proceeds
allocable to principal received in respect of each Mortgage
Loan that became a Liquidated Mortgage Loan during the
related Prepayment Period (other than Mortgage Loans
described in clause (B)) and (B) the principal balance of
each Mortgage Loan purchased by an insurer from the Trustee
pursuant to the related Primary Insurance Policy, in each
case during the related Prepayment Period;
(iv) the Scheduled Principal Balance (as reduced by any
Deficient Valuation occurring on or prior to the Bankruptcy
Coverage Termination Date) of each Mortgage
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Loan which was purchased on such Distribution Date pursuant
to Section 2.02, 2.03(a) or 3.16; and
(v) the Substitution Amount for any Mortgage Loan
substituted during the month of such Distribution Date; for
purposes of this clause (v), the definition of "Substitution
Amount" shall be modified to reduce the Scheduled Principal
Balance of the Mortgage Loan that is substituted for by any
Deficient Valuation occurring on or prior to the Bankruptcy
Coverage Termination Date.
For purposes of clause (ii) above, a Voluntary
Principal Prepayment in full with respect to a Mortgage Loan
serviced by a Primary Servicer shall be deemed to have been
received when the Company, as servicer, receives notice
thereof.
Pool Scheduled Principal Balance: With respect to any
Distribution Date, the aggregate Scheduled Principal Balance
of all the Mortgage Loans that were Outstanding Mortgage
Loans on the Due Date in the month next preceding the month
of such Distribution Date (or, in the case of the first
Distribution Date, the Cut-off Date; or, if so specified,
such other date).
Prepayment Assumption: The assumed fixed schedule of
prepayments on a pool of new mortgage loans with such
schedule given as a monthly sequence of prepayment rates,
expressed as annualized percent values. These values start
at 0.2% per year in the first month, increase by 0.2% per
year in each succeeding month until month 30, ending at 6.0%
per year. At such time, the rate remains constant at 6.0%
per year for the balance of the remaining term. Multiples of
the Prepayment Assumption are calculated from this
prepayment rate series.
Prepayment Assumption Multiple: 275% of the Prepayment
Assumption.
Prepayment Distribution Trigger: As of any Distribution
Date and as to each Class of Class B Certificates, the
related Prepayment Distribution Trigger is satisfied if (x)
the fraction, expressed as a percentage, the numerator of
which is the aggregate Class Certificate Principal Balance
of such Class and each Class subordinate thereto, if any, on
such Distribution Date, and the denominator of which is the
Pool Scheduled Principal Balance for such Distribution Date,
equals or exceeds (y) such percentage calculated as of the
Closing Date.
Prepayment Interest Excess: As to any Voluntary
Principal Prepayment in full received from the first day
through the fifteenth day of any calendar month (other than
the calendar month in which the Cut-off Date occurs), all
amounts paid in respect of interest on such Principal
Prepayment. For purposes of determining the amount of
Prepayment Interest Excess for any month, a Voluntary
Principal Prepayment in full with respect to a Mortgage Loan
serviced by a Primary Servicer shall be deemed to have been
received when the Company, as servicer, receives notice
thereof. All Prepayment Interest Excess shall be retained by
the Company, as servicer, as additional servicing
compensation.
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<PAGE>
Prepayment Period: With respect to any Distribution
Date and any Voluntary Principal Prepayment in part or other
Principal Prepayment other than a Voluntary Principal
Prepayment in full, the calendar month preceding the month
of such Distribution Date; with respect to any Distribution
Date and any Voluntary Principal Prepayment in full, the
period beginning on the sixteenth day of the calendar month
preceding the month of such Distribution Date (or, in the
case of the first Distribution Date, beginning on the Cut-off
Date) and ending on the fifteenth day of the month in which
such Distribution Date occurs.
Primary Insurance Policy: The certificate of private
mortgage insurance relating to a particular Mortgage Loan,
or an electronic screen print setting forth the information
contained in such certificate of private mortgage insurance,
including, without limitation, information relating to the
name of the mortgage insurance carrier, the certificate
number, the loan amount, the property address, the effective
date of coverage, the amount of coverage and the expiration
date of the policy. Each such policy covers defaults by the
Mortgagor, which coverage shall equal the portion of the
unpaid principal balance of the related Mortgage Loan that
exceeds 75% (or such lesser coverage required or permitted
by FNMA or FHLMC) of the Original Value of the underlying
Mortgaged Property.
Primary Servicer: Any servicer with which the Company
has entered into a servicing agreement, as described in
Section 3.01(f).
Principal Balance Schedules: Any principal balance
schedules attached hereto, if applicable, as Exhibit B,
setting forth the PAC Balances of any PAC Certificates and
PAC Components, the Aggregate PAC Balances of the PAC
Certificates, the TAC Balances of any TAC Certificates and
TAC Components, the Scheduled Balances of any Scheduled
Certificates and Scheduled Components, the Aggregate TAC A
Balances of the TAC A Certificates, the Aggregate TAC B
Balances of the TAC B Certificates and the Aggregate TAC C
Balances of the TAC C Certificates.
Principal Only Certificate: Any Class PO Certificate.
Principal Only Component: None.
Principal Prepayment: Any payment or other recovery of
principal on a Mortgage Loan (including, for this purpose,
any refinancing permitted by Section 3.01 and any REO
Proceeds treated as such pursuant to Section 3.08(b)) which
is received in advance of its scheduled Due Date and is not
accompanied by an amount of interest representing scheduled
interest for any month subsequent to the month of
prepayment.
Private Placement Memorandum: The private placement
memorandum relating to the Restricted Junior Certificates
dated September 23, 1998.
Prohibited Transaction Exemption: U.S. Department of
Labor Prohibited Transaction Exemption 9059, 55 Fed. Reg.
36724, September 6, 1990.
Property Protection Expenses: With respect to any
Mortgage Loan, expenses paid or incurred by or for the
account of the Company in accordance with the related
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Mortgage for (a) real estate property taxes and property
repair, replacement, protection and preservation expenses
and (b) similar expenses reasonably paid or incurred to
preserve or protect the value of such Mortgage to the extent
the Company is not reimbursed therefor pursuant to the
Primary Insurance Policy, if any, or any other insurance
policy with respect thereto.
Proprietary Lease: With respect to a Cooperative Loan,
the proprietary lease(s) or occupancy agreement with respect
to the Cooperative Apartment occupied by the Mortgagor and
relating to the related Cooperative Stock, which lease or
agreement confers an exclusive right to the holder of such
Cooperative Stock to occupy such apartment.
Purchase Price: With respect to any Mortgage Loan
required or permitted to be purchased hereunder from the
Trust Fund, an amount equal to 100% of the unpaid principal
balance thereof plus interest thereon at the applicable
Mortgage Rate from the date to which interest was last paid
to the first day of the month in which such purchase price
is to be distributed; provided, however, that if the Company
is the servicer hereunder, such purchase price shall be net
of unreimbursed Monthly Advances with respect to such
Mortgage Loan, and the interest component of the Purchase
Price may be computed on the basis of the Remittance Rate
for such Mortgage Loan.
QIB: A "qualified institutional buyer" as defined in
Rule 144A under the Securities Act of 1933, as amended.
Rating Agency: Any statistical credit rating agency, or
its successor, that rated any of the Certificates at the
request of the Company at the time of the initial issuance
of the Certificates. If such agency or a successor is no
longer in existence, "Rating Agency" shall be such
statistical credit rating agency, or other comparable
Person, designated by the Company, notice of which
designation shall be given to the Trustee. References herein
to the two highest longterm rating categories of a Rating
Agency shall mean such ratings without any modifiers. As of
the date of the initial issuance of the Certificates, the
Rating Agencies are Fitch and S&P; except that for purposes
of the Junior Certificates, other than the Class B5
Certificates, Fitch shall be the sole Rating Agency. The
Class B5 Certificates are issued without ratings.
Realized Loss: Any (i) Deficient Valuation or (ii) as
to any Liquidated Mortgage Loan, (x) the unpaid principal
balance of such Liquidated Mortgage Loan plus accrued and
unpaid interest thereon at the Net Mortgage Rate through the
last day of the month of such liquidation less (y) the
related Liquidation Proceeds and Insurance Proceeds (as
reduced by the related Liquidation Expenses).
Record Date: The last Business Day of the month
immediately preceding the month of the related Distribution
Date.
Reference Banks: As defined in Section 5.08.
Relief Act: The Soldiers' and Sailors' Civil Relief Act
of 1940, as amended.
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Relief Act Mortgage Loan: Any Mortgage Loan as to which
the Monthly Payment thereof has been reduced due to the
application of the Relief Act.
REMIC: A "real estate mortgage investment conduit"
within the meaning of section 860D of the Code.
REMIC Provisions: Provisions of the federal income tax
law relating to real estate mortgage investment conduits,
which appear at sections 860A through 860G of Part IV of
Subchapter M of Chapter 1 of the Code, and related
provisions, and U.S. Office of the Treasury temporary or
final regulations promulgated thereunder, as the foregoing
may be in effect from time to time, as well as provisions of
applicable state laws.
Remittance Rate: With respect to any Mortgage Loan, the
related Mortgage Rate less the sum of the applicable Base
Servicing Fee Rate and the Supplemental Servicing Fee Rate.
REO Mortgage Loan: Any Mortgage Loan which is not a
Liquidated Mortgage Loan and as to which the related
Mortgaged Property is held as part of the Trust Fund.
REO Proceeds: Proceeds, net of any related expenses of
the Company, received in respect of any REO Mortgage Loan
(including, without limitation, proceeds from the rental of
the related Mortgaged Property).
Required Surety Payment: With respect to any Pledged
Asset Mortgage Loan that becomes a Liquidated Mortgage Loan,
the lesser of (i) the principal portion of the Realized Loss
with respect to such Mortgage Loan and (ii) the excess, if
any, of (a) the amount of Additional Collateral required at
origination with respect to such Mortgage Loan which is
covered by the Surety Bond over (b) the net proceeds
realized by MLCC from the liquidation of the related
Additional Collateral.
Reserve Fund: None.
Reserve Interest Rate: As defined in Section 5.08.
Residual Certificate: Any Class R or Class RL
Certificate.
Responsible Officer: When used with respect to the
Trustee, any officer or assistant officer assigned to and
working in the Corporate Trust Department of the Trustee
and, also, with respect to a particular matter, any other
officer to whom such matter is referred because of such
officer's knowledge of and familiarity with the particular
subject.
Restricted Certificate: Any Restricted Junior
Certificate or Class PO Certificate.
Restricted Junior Certificate: Any Class B3, Class B4
or Class B5 Certificate.
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<PAGE>
S&P: Standard & Poor's Ratings Services, a division of
The McGrawHill Companies, Inc., and its successors.
SAIF: The Savings Association Insurance Fund of the
FDIC, or its successor in interest.
Scheduled Balance: As to any Distribution Date and any
Class of Scheduled Certificates and any Scheduled Component,
the balance designated as such for such Distribution Date
and such Class or Component as set forth in the Principal
Balance Schedules.
Scheduled Certificate: None.
Scheduled Component: None.
Scheduled Principal Balance: As to any Mortgage Loan
and Distribution Date, the principal balance of such
Mortgage Loan as of the Due Date in the month next preceding
the month of such Distribution Date (or, if so specified,
such other date) as specified in the amortization schedule
at the time relating to such Mortgage Loan (before any
adjustment to such amortization schedule by reason of any
bankruptcy or similar proceeding or any moratorium or
similar waiver or grace period) after giving effect to any
previous Principal Prepayments, Deficient Valuations
incurred subsequent to the Bankruptcy Coverage Termination
Date, adjustments due to the application of the Relief Act
and the payment of principal due on such Due Date,
irrespective of any delinquency in payment by the related
Mortgagor. As to any Mortgage Loan and the Cut-off Date, the
"unpaid balance" thereof specified in the initial Mortgage
Loan Schedule.
Security Agreement: With respect to a Cooperative Loan,
the agreement creating a security interest in favor of the
originator in the related Cooperative Stock and Proprietary
Lease.
Senior Certificate: Any Certificate other than a Junior
Certificate.
Senior Certificate Principal Balance: As of any
Distribution Date, an amount equal to the sum of the
Certificate Principal Balances of the Senior Certificates
(other than any Class PO Certificates).
Senior Optimal Principal Amount: As to any Distribution
Date, an amount equal to the sum of:
(i) the Senior Percentage of the applicable Non-PO
Percentage of the principal portion of each Monthly Payment
due on the related Due Date on each Outstanding Mortgage
Loan as of such Due Date as specified in the amortization
schedule at the time applicable thereto (after adjustments
for previous Principal Prepayments and the principal portion
of Debt Service Reductions subsequent to the Bankruptcy
Coverage Termination Date but before any adjustment to such
amortization schedule by reason of any bankruptcy (except as
aforesaid) or similar proceeding or any moratorium or
similar waiver or grace period);
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(ii) the Senior Prepayment Percentage of the applicable
Non-PO Percentage of all principal prepayments in part
received during the related Prepayment Period, together with
the Senior Prepayment Percentage of the applicable Non-PO
Percentage of the Scheduled Principal Balance of each
Mortgage Loan which was the subject of a Voluntary Principal
Prepayment in full during the related Prepayment Period;
(iii) the lesser of (x) the Senior Percentage of the
applicable Non-PO Percentage of the sum of (A) the Scheduled
Principal Balance of each Mortgage Loan that became a
Liquidated Mortgage Loan (other than Mortgage Loans
described in clause (B)) during the related Prepayment
Period and (B) the Scheduled Principal Balance of each
Mortgage Loan that was purchased by an insurer from the
Trustee during the related Prepayment Period pursuant to the
related Primary Insurance Policy, as reduced in each case by
the Senior Percentage of the applicable Non-PO Percentage of
the principal portion of any Excess Losses (other than
Excess Bankruptcy Losses attributable to Debt Service
Reductions), and (y) the Senior Prepayment Percentage of the
applicable Non-PO Percentage of the sum of (A) all Net
Liquidation Proceeds allocable to principal received in
respect of each such Liquidated Mortgage Loan (other than
Mortgage Loans described in clause (B)) and (B) the
principal balance of each such Mortgage Loan purchased by an
insurer from the Trustee pursuant to the related Primary
Insurance Policy, in each case during the related Prepayment
Period;
(iv) the Senior Prepayment Percentage of the applicable
Non-PO Percentage of the Scheduled Principal Balance of each
Mortgage Loan which was purchased on such Distribution Date
pursuant to Section 2.02, 2.03(a) or 3.16; and
(v) the Senior Prepayment Percentage of the applicable
Non-PO Percentage of the Substitution Amount for any Mortgage
Loan substituted during the month of such Distribution Date.
For purposes of clause (ii) above, a Voluntary
Principal Prepayment in full with respect to a Mortgage Loan
serviced by a Primary Servicer shall be deemed to have been
received when the Company, as servicer, receives notice
thereof.
Senior Percentage: As to any Distribution Date, the
lesser of (i) 100% and (ii) the percentage (carried to six
places rounded up) obtained by dividing the Senior
Certificate Principal Balance immediately prior to such
Distribution Date by an amount equal to the sum of the
Certificate Principal Balances of all the Certificates other
than any Class PO Certificates immediately prior to such
Distribution Date.
Senior Prepayment Percentage: For any Distribution Date
occurring prior to the fifth anniversary of the first
Distribution Date, 100%. For any Distribution Date occurring
on or after the fifth anniversary of the first Distribution
Date, an amount as follows:
(i) for any Distribution Date subsequent to September
2003 to and including the Distribution Date in September
2004, the Senior Percentage for such Distribution Date plus
70% of the Junior Percentage for such Distribution Date;
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<PAGE>
(ii) for any Distribution Date subsequent to September
2004 to and including the Distribution Date in September
2005, the Senior Percentage for such Distribution Date plus
60% of the Junior Percentage for such Distribution Date;
(iii) for any Distribution Date subsequent to September
2005 to and including the Distribution Date in September
2006, the Senior Percentage for such Distribution Date plus
40% of the Junior Percentage for such Distribution Date;
(iv) for any Distribution Date subsequent to September
2006 to and including the Distribution Date in September
2007, the Senior Percentage for such Distribution Date plus
20% of the Junior Percentage for such Distribution Date; and
(v) for any Distribution Date thereafter, the Senior
Percentage for such Distribution Date.
Notwithstanding the foregoing, if on any Distribution
Date the Senior Percentage exceeds the Senior Percentage as
of the Closing Date, the Senior Prepayment Percentage for
such Distribution Date will equal 100%.
In addition, notwithstanding the foregoing, no
reduction of the Senior Prepayment Percentage below the
level in effect for the most recent prior period as set
forth in clauses (i) through (iv) above shall be effective
on any Distribution Date unless at least one of the
following two tests is satisfied:
Test I: If, as of the last day of the month preceding
such Distribution Date, (i) the aggregate Scheduled
Principal Balance of Mortgage Loans delinquent 60 days or
more (including for this purpose any Mortgage Loans in
foreclosure and REO Mortgage Loans) as a percentage of the
aggregate Class Certificate Principal Balance of the Junior
Certificates as of such date, does not exceed 50%, and (ii)
cumulative Realized Losses with respect to the Mortgage
Loans do not exceed (a) 30% of the aggregate Class
Certificate Principal Balance of the Junior Certificates as
of the Closing Date (the "Original Subordinate Principal
Balance") if such Distribution Date occurs between and
including October 2003 and September 2004, (b) 35% of the
Original Subordinate Principal Balance if such Distribution
Date occurs between and including October 2004 and September
2005, (c) 40% of the Original Subordinate Principal Balance
if such Distribution Date occurs between and including
October 2005 and September 2006, (d) 45% of the Original
Subordinate Principal Balance if such Distribution Date
occurs between and including October 2006 and September 2007
and (e) 50% of the Original Subordinate Principal Balance if
such Distribution Date occurs during or after September
2007; or
Test II: If, as of the last day of the month preceding
such Distribution Date, (i) the aggregate Scheduled
Principal Balance of Mortgage Loans delinquent 60 days or
more (including for this purpose any Mortgage Loans in
foreclosure and REO Mortgage Loans) averaged over the last
three months, as a percentage of the aggregate Scheduled
Principal Balance of Mortgage Loans averaged over the last
three months, does not exceed 4%, and (ii) cumulative
Realized Losses with respect to the Mortgage Loans do
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<PAGE>
not exceed (a) 10% of the Original Subordinate Principal
Balance if such Distribution Date occurs between and
including October 2003 and September 2004, (b) 15% of the
Original Subordinate Principal Balance if such Distribution
Date occurs between and including October 2004 and September
2005, (c) 20% of the Original Subordinate Principal Balance
if such Distribution Date occurs between and including
October 2005 and September 2006, (d) 25% of the Original
Subordinate Principal Balance if such Distribution Date
occurs between and including October 2006 and September
2007, and (e) 30% of the Original Subordinate Principal
Balance if such Distribution Date occurs during or after
October 2007.
Senior Principal Priorities: The priorities set forth
in Exhibit O hereto for the distribution of the Senior
Optimal Principal Amount to the Classes of Senior
Certificates.
Servicer's Certificate: A certificate, completed by and
executed on behalf of the Company by a Servicing Officer in
accordance with Section 4.06, substantially in the form of
Exhibit D hereto or in such other form as the Company and
the Trustee shall agree.
Servicing Fee: As to any Mortgage Loan and Distribution
Date, the sum of (a) the Base Servicing Fee and (b) the
Supplemental Servicing Fee.
Servicing Officer: Any officer of the Company involved
in, or responsible for, the administration and servicing of
the Mortgage Loans whose name appears on a list of servicing
officers attached to an Officer's Certificate furnished to
the Trustee by the Company, as such list may from time to
time be amended.
Single Certificate: A Certificate with an Initial
Certificate Principal Balance, or initial Notional Principal
Balance, of $1,000 or, in the case of a Class of
Certificates issued with an initial Class Certificate
Principal Balance or initial Notional Principal Balance of
less than $1,000, such lesser amount.
Special Hazard Loss: (i) A Realized Loss suffered by a
Mortgaged Property on account of direct physical loss,
exclusive of (a) any loss covered by a hazard policy or a
flood insurance policy required to be maintained in respect
of such Mortgaged Property under Section 3.06 and (b) any
loss caused by or resulting from:
(A) normal wear and tear;
(B) conversion or other dishonest act on the part
of the Trustee, the Company or any of their agents or
employees; or
(C) errors in design, faulty workmanship or faulty
materials, unless the collapse of the property or a
part thereof ensues;
or (ii) any Realized Loss suffered by the Trust Fund
arising from or related to the presence or suspected
presence of hazardous wastes or hazardous substances on a
Mortgaged Property unless such loss to a Mortgaged Property
is covered by a hazard
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policy or a flood insurance policy required to be maintained
in respect of such Mortgaged Property under Section 3.06.
Special Hazard Loss Amount: As of any Distribution
Date, an amount equal to $5,259,116 minus the sum of (i) the
aggregate amount of Special Hazard Losses that would have
been allocated to the Junior Certificates in accordance with
Section 4.03 in the absence of the Loss Allocation
Limitation and (ii) the Adjustment Amount (as defined below)
as most recently calculated. On each anniversary of the
Cut-off Date, the "Adjustment Amount" shall be equal to the
amount, if any, by which the amount calculated in accordance
with the preceding sentence (without giving effect to the
deduction of the Adjustment Amount for such anniversary)
exceeds the lesser of (x) the greater of (A) the product of
the Special Hazard Percentage for such anniversary
multiplied by the outstanding principal balance of all the
Mortgage Loans on the Distribution Date immediately
preceding such anniversary and (B) twice the outstanding
principal balance of the Mortgage Loan which has the largest
outstanding principal balance on the Distribution Date
immediately preceding such anniversary, and (y) an amount
calculated by the Company and approved by each Rating
Agency, which amount shall not be less than $500,000.
Special Hazard Percentage: As of each anniversary of
the Cut-off Date, the greater of (i) 1.00% and (ii) the
largest percentage obtained by dividing (x) the aggregate
outstanding principal balance (as of the immediately
preceding Distribution Date) of the Mortgage Loans secured
by Mortgaged Properties located in a single, fivedigit zip
code area in the State of California by (y) the outstanding
principal balance of all the Mortgage Loans as of the
immediately preceding Distribution Date.
Special Hazard Termination Date: The Distribution Date
upon which the Special Hazard Loss Amount has been reduced
to zero or a negative number (or the Cross-Over Date, if
earlier).
Specified Component: Any Class A7A IO, Class A7B IO,
Class A7C IO or Class A7D Accrual Component.
Startup Day: As defined in Section 2.06(c).
Subordinate Certificates: As to any date of
determination, first, the Class B5 Certificates until the
Class Certificate Principal Balance thereof has been reduced
to zero; second, the Class B4 Certificates until the Class
Certificate Principal Balance thereof has been reduced to
zero; third, the Class B3 Certificates until the Class
Certificate Principal Balance thereof has been reduced to
zero; fourth, the Class B2 Certificates until the Class
Certificate Principal Balance thereof has been reduced to
zero; fifth, the Class B1 Certificates until the Class
Certificate Principal Balance thereof has been reduced to
zero; and sixth, the Class M Certificates until the Class
Certificate Principal Balance thereof has been reduced to
zero.
Subordinate Certificate Writedown Amount: As to any
Distribution Date, first, any amount distributed to the
Class PO Certificates on such Distribution Date pursuant to
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Section 4.01(a)(iv) and second, after giving effect to the
application of clause first above, the amount by which (i)
the sum of the Class Certificate Principal Balances of all
the Certificates (after giving effect to the distribution of
principal and the application of Realized Losses in
reduction of the Certificate Principal Balances of the
related Certificates on such Distribution Date) exceeds (ii)
the Pool Scheduled Principal Balance on the first day of the
month of such Distribution Date less any Deficient
Valuations occurring on or prior to the Bankruptcy Coverage
Termination Date.
Substitution Amount: With respect to any Mortgage Loan
substituted pursuant to Section 2.03(b), the excess of (x)
the Scheduled Principal Balance of the Mortgage Loan that is
substituted for, over (y) the Scheduled Principal Balance of
the related substitute Mortgage Loan, each balance being
determined as of the date of substitution.
Supplemental Servicing Fee: As to any Mortgage Loan and
Distribution Date, an amount equal to the product of (i) the
Scheduled Principal Balance of such Mortgage Loan as of the
Due Date in the preceding calendar month and (ii) the
Supplemental Servicing Fee Rate for such Mortgage Loan. The
Supplemental Servicing Fee for any Distribution Date shall
be reduced by its allocable share of Interest Shortfalls (as
provided in the definition thereof) and any Interest Losses
(in accordance with Section 3.08(d)).
Supplemental Servicing Fee Rate: As to any Mortgage
Loan and Distribution Date, a fixed rate per annum equal to
the excess, if any, of the Net Mortgage Rate thereof over
6.75%.
Surety: Ambac Assurance Corporation, or its successors
in interest.
Surety Bond: The Limited Purpose Surety Bond (Policy
No. AB0039BE), dated February 28, 1996, issued by the Surety
for the benefit of certain beneficiaries, including the
Trustee for the benefit of the Holders of the Certificates,
but only to the extent that such Limited Purpose Surety Bond
covers any Pledged Asset Mortgage Loans.
TAC A Certificates: The Class A4 and Class A9
Certificates and the Class A7D Accrual and Class A12B TAC
Components.
TAC B Certificates: The Class A4 Certificates and the
Class A7D Accrual and Class A12B TAC Components.
TAC C Certificates: The Class A4 Certificates and the
Class A12B TAC Component.
TAC Balance: As to any Distribution Date and any Class
of TAC Certificates and any TAC Component, the balance
designated as such for such Distribution Date and such Class
or Component as set forth in the Principal Balance Schedules
attached as Exhibit B hereto.
TAC Certificates: None.
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TAC Component: None.
Trigger Event: Any one or more of the following: (i) if
the Company is not a whollyowned direct or indirect
subsidiary of General Electric Company or if General
Electric Capital Corporation shall not own (directly or
indirectly) at least twothirds of the voting shares of the
capital stock of the Company, (ii) if the longterm senior
unsecured rating of General Electric Capital Corporation is
downgraded or withdrawn by Fitch or S&P below their two
highest rating categories, (iii) if General Electric Capital
Corporation is no longer obligated pursuant to the terms of
the support agreement, dated as of October 1, 1990, between
General Electric Capital Corporation and the Company, to
maintain the Company's net worth or liquidity (as such terms
are defined therein) at the levels specified therein, or if
such support agreement, including any amendment thereto, has
been breached, terminated or otherwise held to be
unenforceable and (iv) if such support agreement, including
any amendment thereto, is amended or modified.
Trust Fund: The corpus of the trust created by this
Agreement evidenced by the Certificates and consisting of:
(i) the Mortgage Loans;
(ii) all payments on or collections in respect of such
Mortgage Loans, except as otherwise described in the first
paragraph of Section 2.01, including the proceeds from the
liquidation of any Additional Collateral for any Pledged
Asset Mortgage Loan;
(iii) the obligation of the Company to deposit in the
Certificate Account the amounts required by Sections
3.02(d), 3.02(e) and 4.04(a), and the obligation of the
Trustee to deposit in the Certificate Account any amount
required pursuant to Section 4.04(b);
(iv) the obligation of the Company to purchase or
replace any Defective Mortgage Loan pursuant to Section 2.02
or 2.03;
(v) all property acquired by foreclosure or deed in
lieu of foreclosure with respect to any REO Mortgage Loan;
(vi) the proceeds of the Primary Insurance Policies, if
any, and the hazard insurance policies required by Section
3.06, in each case, in respect of the Mortgage Loans, and
the Company's interest in the Surety Bond transferred to the
Trustee pursuant to Section 2.01;
(vii) the Certificate Account established pursuant to
Section 3.02(d);
(viii) the Eligible Account or Accounts, if any,
established pursuant to Section 3.02(e);
(ix) any collateral funds established to secure the
obligations of the Holder of the Class B4 and Class B5
Certificates, respectively, under any agreements entered
into between such holder and the Company pursuant to Section
3.08(e); and
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(x) all rights of the Company as assignee under any
security agreements, pledge agreements or guarantees
relating to the Additional Collateral supporting any Pledged
Asset Mortgage Loan.
Trustee: The institution executing this Agreement as
Trustee, or its successor in interest, or if any successor
trustee is appointed as herein provided, then such successor
trustee so appointed.
Unanticipated Recovery: As defined in Section 4.01(e)
herein.
Uninsured Cause: Any cause of damage to property
subject to a Mortgage such that the complete restoration of
the property is not fully reimbursable by the hazard
insurance policies required to be maintained pursuant to
Section 3.06.
Unpaid Class Interest Shortfall: As to any Distribution
Date and any Class of Certificates (other than any Class of
Principal Only Certificates and any Class consisting of
Specified Components) or any Specified Component (other than
any Principal Only Component), the amount, if any, by which
the aggregate of the Class Interest Shortfalls for such
Class or in respect of such Specified Component for prior
Distribution Dates is in excess of the aggregate amounts
distributed on prior Distribution Dates to Holders of such
Class of Certificates or in respect of such Specified
Component (or added to the Class Certificate Principal
Balance of any Class of Accrual Certificates, or to the
Component Principal Balance of any Accrual Component
constituting a Specified Component) pursuant to Section
4.01(a)(ii), in the case of the Senior Certificates (other
than any Class of Principal Only Certificates) and any
Specified Component thereof (other than any Principal Only
Component), Section 4.01(a)(vi), in the case of the Class M
Certificates, Section 4.01(a)(ix), in the case of the Class
B1 Certificates, Section 4.01(a)(xii), in the case of the
Class B2 Certificates, Section 4.01(a)(xv), in the case of
the Class B3 Certificates, Section 4.01(a)(xviii), in the
case of the Class B4 Certificates, and Section 4.01(a)(xxi),
in the case of the Class B5 Certificates. As to any Class of
Certificates consisting of Specified Components and any
Distribution Date, the sum of the Unpaid Class Interest
Shortfalls for the Specified Components thereof on such
date.
Upper Tier REMIC: One of the two separate REMICs
comprising the Trust Fund, the assets of which consist of
the Lower Tier Interests.
Voluntary Principal Prepayment: With respect to any
Distribution Date, any prepayment of principal received from
the related Mortgagor on a Mortgage Loan.
Voting Rights: The portion of the voting rights of all
the Certificates that is allocated to any Certificate for
purposes of the voting provisions of Section 10.01. At all
times during the term of this Agreement, all Voting Rights
shall be allocated to the Classes of Certificates. Voting
Rights shall be allocated among the Classes (and among the
Certificates within each Class of Certificates) in
proportion to their Class Certificate Principal Balances (or
Certificate Principal Balances or Notional Principal Balances),
as the case may be.
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ARTICLE II
CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES
Section 2.01. Conveyance of Mortgage Loans. (a) The
Company, concurrently with the execution and delivery of this
Agreement, does hereby transfer, assign, setover and otherwise
convey to the Trustee without recourse (except as provided
herein) all the right, title and interest of the Company in and
to the Mortgage Loans, including all interest and principal
received by the Company on or with respect to the Mortgage Loans
(other than payments of principal and interest due and payable on
the Mortgage Loans on or before, and all Principal Prepayments
received before, the Cut-off Date).
In addition, with respect to any Pledged Asset
Mortgage Loan, the Company does hereby transfer, assign, setover
and otherwise convey to the Trustee without recourse (except as
provided herein) (i) its rights as assignee under any security
agreements, pledge agreements or guarantees relating to the
Additional Collateral supporting any Pledged Asset Mortgage Loan,
(ii) its security interest in and to any Additional Collateral,
(iii) its right to receive payments in respect of any Pledged
Asset Mortgage Loan pursuant to the Pledged Asset Mortgage
Servicing Agreement, and (iv) its rights as beneficiary under the
Surety Bond in respect of any Pledged Asset Mortgage Loan.
(b) In connection with such transfer and assignment, the
Company does hereby deliver to the Trustee the following
documents or instruments with respect to:
(1) Each Mortgage Loan (other than any Cooperative Loan
or Designated Loan) so transferred and assigned:
(i) The Mortgage Note, endorsed without recourse in
blank by the Company, including all intervening endorsements
showing a complete chain of endorsement from the originator
to the Company; provided, however, that if such Mortgage
Note is a Confirmatory Mortgage Note, such Confirmatory
Mortgage Note may be payable directly to the Company or may
show a complete chain of endorsement from the named payee to
the Company;
(ii) Any assumption and modification agreement;
(iii) An assignment in recordable form (which may be
included in a blanket assignment or assignments) of the
Mortgage to the Trustee; and
(2) Each Cooperative Loan (other than a Designated
Loan) so transferred and assigned:
(i) The Mortgage Note, endorsed without recourse in
blank by the Company and showing an unbroken chain of
endorsements from the originator to the Company; provided,
however, that if such Mortgage Note is a Confirmatory
Mortgage Note, such Confirmatory Mortgage Note may be
payable directly to the Company or may show a complete chain
of endorsement from the named payee to the Company;
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(ii) A counterpart of the Proprietary Lease and the
Assignment of Proprietary Lease executed in blank or to the
originator of the Cooperative Loan;
(iii) The related Cooperative Stock Certificate,
together with an undated stock power (or other similar
instrument) executed in blank;
(iv) A counterpart of the recognition agreement by the
Cooperative of the interests of the mortgagee with respect
to the related Cooperative Loan;
(v) The Security Agreement;
(vi) Copies of the original UCC-1 financing statement,
and any continuation statements, filed by the originator of
such Cooperative Loan as secured party, each with evidence
of recording thereof, evidencing the interest of the
originator in the Cooperative Stock and the Proprietary
Lease;
(vii) If applicable, copies of the UCC-3 assignments of
the security interest described in clause (vi) above, sent
to the appropriate public office for filing, showing an
unbroken chain of title from the originator to the Company,
evidencing the security interest of the originator in the
Cooperative Stock and the Proprietary Lease;
(viii) An executed assignment (which may be a blanket
assignment for all Cooperative Loans) of the interest of the
Company in the Security Agreement, Assignment of Proprietary
Lease and the recognition agreement described in clause (iv)
above, showing an unbroken chain of title from the
originator to the Trustee; and
(ix) A UCC-3 assignment from the Company to the Trustee
of the security interest described in clause (vi) above, in
form suitable for filing, otherwise complete except for
filing information regarding the original UCC-1 if
unavailable (which may be included in a blanket assignment
to the Trustee).
In instances where a completed assignment of the
Mortgage in recordable form cannot be delivered by the Company to
the Trustee in accordance with Section 2.01(b)(1)(iii) prior to
or concurrently with the execution and delivery of this
Agreement, due to a delay in connection with recording of the
Mortgage, the Company may, in lieu of delivering the completed
assignment in recordable form, deliver to the Trustee the
assignment in such form, otherwise complete except for recording
information.
(3) With respect to each Designated Loan, the Company
does hereby deliver to the Trustee the Designated Loan
Closing Documents.
(c) In connection with each Mortgage Loan transferred
and assigned to the Trustee, the Company shall deliver to the
Trustee the following documents or instruments as promptly as
practicable, but in any event within 30 days, after receipt by
the Company of all such documents and instruments for all of the
outstanding Mortgage Loans:
(i) the Mortgage with evidence of recording indicated
thereon (other than with respect to a Cooperative Loan);
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(ii) a copy of the title insurance policy (other than
with respect to a Cooperative Loan);
(iii) with respect to any Mortgage that has been
assigned to the Company, the related recorded intervening
assignment or assignments of Mortgage, showing a complete
chain of assignment from the originator to the Company
(other than with respect to a Cooperative Loan); and
(iv) with respect to any Cooperative Loan that has been
assigned to the Company, the related filed intervening UCC-3
financing statements (not previously delivered pursuant to
Section 2.01(b)(2)(vii)), showing a complete chain of
assignment from the named originator to the Company.
Pending such delivery, the Company shall retain in its files (a)
copies of the documents described in clauses (i) and (iii) of the
preceding sentence, without evidence of recording thereon, and
(b) title insurance binders with respect to the Mortgage Loans
(other than with respect to a Cooperative Loan). The Company
shall also retain in its files evidence of any primary mortgage
insurance relating to the Mortgage Loans during the period when
the related insurance is in force. Such evidence shall consist,
for each Mortgage Loan, of a certificate of private mortgage
insurance relating to such Mortgage Loan or an electronic screen
print setting forth the information contained in such certificate
of private mortgage insurance, including, without limitation,
information relating to the name of the mortgage insurance
carrier, the certificate number, the loan amount, the property
address, the effective date of coverage, the amount of coverage
and the expiration date of the policy. (The copies of the
Mortgage, intervening assignments of Mortgage, if any, title
insurance binder and the Primary Insurance Policy, if any,
described in the second and third preceding sentences are
collectively referred to herein as the "Document File" with
respect to each Mortgage Loan.) The Company shall advise the
Trustee in writing if such delivery to the Trustee shall not have
occurred on or before the first anniversary of the Closing Date.
The Company shall promptly furnish to the Trustee the documents
included in the Document Files (other than any such documents
previously delivered to the Trustee as originals or copies)
either (a) upon the written request of the Trustee or (b) when
the Company or the Trustee obtains actual notice or knowledge of
a Trigger Event. The Trustee shall have no obligation to request
delivery of the Document Files unless a Responsible Officer of
the Trustee has actual notice or knowledge of the occurrence of a
Trigger Event.
In the case of Mortgage Loans which have been prepaid
in full after the Cut-off Date and prior to the date of execution
and delivery of this Agreement, the Company, in lieu of
delivering the above documents to the Trustee, herewith delivers
to the Trustee a certification of a Servicing Officer of the
nature set forth in Section 3.09.
(d) The Company shall not be required to record the
assignments of the Mortgages referred to in Section
2.01(b)(1)(iii) or file the UCC-3 assignments referred to in
Section 2.01(b)(2)(ix) to the Trustee unless the Company or the
Trustee obtains actual notice or knowledge of the occurrence of
any Trigger Event; provided, however, that such recording or
filing shall not be required if the Company delivers to the
Trustee a letter from each Rating Agency to the effect that the
failure to take such action will not cause such Rating Agency to
reduce or withdraw its then current ratings of the Certificates.
The party obtaining actual notice
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or knowledge of any of such events shall give the other party
prompt written notice thereof. For purposes of the foregoing (as
well as for purposes of determining whether the Company shall be
required to deliver the Document Files to the Trustee following
the occurrence of a Trigger Event), the Company shall be deemed
to have knowledge of any such downgrading referred to in the
definition of Trigger Event if, in the exercise of reasonable
diligence, the Company has or should have had knowledge thereof.
As promptly as practicable subsequent to the Company's delivery
or receipt of such written notice, as the case may be, the
Company shall insert the recording or filing information in the
assignments of the Mortgages or UCC-3 assignments to the Trustee
and shall cause the same to be recorded or filed, at the
Company's expense, in the appropriate public office for real
property records or UCC financing statements, except that the
Company need not cause to be so completed and recorded any
assignment of mortgage which relates to a Mortgage Loan secured
by property in a jurisdiction under the laws of which, on the
basis of an Opinion of Counsel reasonably satisfactory to the
Trustee and satisfactory to each Rating Agency (as evidenced in
writing), recordation of such assignment is not necessary to
protect the Trustee against discharge of such Mortgage Loan by
the Company or any valid assertion that any Person other than the
Trustee has title to or any rights in such Mortgage Loan. In the
event that the Company fails or refuses to record or file the
assignment of Mortgages or UCC-3 financing statement in the
circumstances provided above, the Trustee shall record or cause
to be recorded or filed such assignment or UCC-3 financing
statement at the expense of the Company. In connection with any
such recording or filing, the Company shall furnish such
documents as may be reasonably necessary to accomplish such
recording or filing. Notwithstanding the foregoing, at any time
the Company may record or file, or cause to be recorded or filed,
the assignments of Mortgages or UCC-3 financing statement at the
expense of the Company.
Section 2.02. Acceptance by Trustee. Subject to the
examination hereinafter provided, the Trustee acknowledges
receipt of the Mortgage Notes, the assignments of the Mortgages
to the Trustee, the assumption and modification agreements, if
any, the documents specified in Section 2.01(b)(2) (subject to
any permitted delayed delivery of the documents described in
Section 2.01(c)(iv)), and the Designated Loan Closing Documents,
if any, delivered pursuant to Section 2.01, and declares that the
Trustee holds and will hold such documents and each other
document delivered to it pursuant to Section 2.01 in trust, upon
the trusts herein set forth, for the use and benefit of all
present and future Certificateholders. The Trustee agrees, for
the benefit of Certificateholders, to review each Mortgage File
within 45 days after (i) the execution and delivery of this
Agreement, in the case of the Mortgage Notes, the assignments of
the Mortgages to the Trustee, the assumption and modification
agreements, if any, the documents specified in Section 2.01(b)(2)
(subject to any permitted delayed delivery of the documents
described in Section 2.01(c)(iv)), and the Designated Loan
Closing Documents, if any, (ii) delivery to the Trustee after the
Closing Date of the Mortgage Notes and the assumption and
modification agreements, if any, with respect to each Designated
Loan, and (iii) delivery of the recorded Mortgages, title
insurance policies, recorded intervening assignments of Mortgage,
if any, and filed intervening UCC-3 financing statements, if any,
with respect to any Cooperative Loan to ascertain that all
required documents set forth in Section 2.01 have been executed,
received and recorded, if applicable, and that such documents
relate to the Mortgage Loans identified in Exhibit C hereto. In
performing such examination, the Trustee may conclusively assume
the due execution and genuineness of any such document and the
genuineness of any signature thereon.
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It is understood that the scope of the Trustee's examination of
the Mortgage Files is limited solely to confirming, after receipt
of the documents listed in Section 2.01, that such documents have
been executed, received and recorded, if applicable, and relate
to the Mortgage Loans identified in Exhibit C to this Agreement.
If in the course of such review the Trustee finds (1) that any
document required to be delivered as aforesaid has not been
delivered, or (2) any such document has been mutilated, defaced
or physically altered without the borrower's authorization or
approval, or (3) based upon its examination of such documents,
the information with respect to any Mortgage Loan set forth on
Exhibit C is not accurate, the Trustee shall promptly so notify
the Company in writing, which shall have a period of 60 days
after receipt of such notice to correct or cure any such defect.
The Company hereby covenants and agrees that, if any such
material defect cannot be corrected or cured, the Company will on
a Distribution Date which is not later than the first
Distribution Date which is more than ten days after the end of
such 60-day period repurchase the related Mortgage Loan from the
Trustee at the Purchase Price therefor or replace such Mortgage
Loan pursuant to Section 2.03(b); provided, however, that if the
defect (or breach pursuant to Section 2.03(a)) is one that, had
it been discovered before the Startup Day, would have prevented
the Mortgage Loan from being a "qualified mortgage" within the
meaning of the REMIC Provisions, such defect or breach shall be
cured, or the related Mortgage Loan shall be repurchased or
replaced, on a Distribution Date which falls within 90 days of
the date of discovery of such defect or breach. The Purchase
Price for the repurchased Mortgage Loan, or any amount required
in respect of a substitution pursuant to Section 2.03(b), shall
be deposited by the Company in the Certificate Account pursuant
to Section 3.02(d) on the Business Day prior to the applicable
Distribution Date and, upon receipt by the Trustee of written
notification of such deposit signed by a Servicing Officer, the
Trustee shall release or cause to be released to the Company the
related Mortgage File and shall execute and deliver or cause to
be executed and delivered such instruments of transfer or
assignment, in each case without recourse, as shall be necessary
to vest in the Company any Mortgage Loan released pursuant
hereto. It is understood and agreed that the obligation of the
Company to repurchase or replace any Mortgage Loan as to which a
material defect in a constituent document exists shall constitute
the sole remedy respecting such defect available to
Certificateholders or the Trustee on behalf of
Certificateholders.
Upon receipt by the Trustee of the Mortgage Note with
respect to a Designated Loan that is not defective in accordance
with the fifth sentence of the preceding paragraph, the related
Lost Note Affidavit delivered pursuant to Section 2.01 shall be
void and the Trustee shall return it to the Company.
Section 2.03. Representations and Warranties of the Company;
Mortgage Loan Repurchase. (a) The Company hereby represents and
warrants to the Trustee that:
(i) The information set forth in Exhibit C hereto was
true and correct in all material respects at the date or
dates respecting which such information is furnished;
(ii) As of the date of the initial issuance of the
Certificates, other than with respect to Cooperative Loans,
each Mortgage is a valid and enforceable first lien on the
property securing the related Mortgage Note subject only to
(a) the lien of current real property taxes and assessments,
(b) covenants, conditions and restrictions, rights of way,
easements and other matters of public record as of the date
of recording of such
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Mortgage, such exceptions appearing of record being
acceptable to mortgage lending institutions generally in the
area wherein the property subject to the Mortgage is located
or specifically reflected in the appraisal obtained in
connection with the origination of the related Mortgage Loan
obtained by the Company and (c) other matters to which like
properties are commonly subject which do not materially
interfere with the benefits of the security intended to be
provided by such Mortgage;
(iii) Immediately prior to the transfer and assignment
herein contemplated, the Company had good title to, and was
the sole owner of, each Mortgage Loan and all action had
been taken to obtain good record title to each related
Mortgage. Each Mortgage Loan has been transferred free and
clear of any liens, claims and encumbrances;
(iv) As of the date of the initial issuance of the
Certificates, no payment of principal of or interest on or
in respect of any Mortgage Loan is 30 or more days past due
and none of the Mortgage Loans have been past due 30 or more
days more than once during the preceding 12 months;
(v) As of the date of the initial issuance of the
Certificates, other than with respect to Cooperative Loans,
there is no mechanics' lien or claim for work, labor or
material affecting the premises subject to any Mortgage
which is or may be a lien prior to, or equal or coordinate
with, the lien of such Mortgage except those which are
insured against by the title insurance policy referred to in
(x) below;
(vi) As of the date of the initial issuance of the
Certificates, other than with respect to Cooperative Loans,
there is no delinquent tax or assessment lien against the
property subject to any Mortgage;
(vii) As of the date of the initial issuance of the
Certificates, there is no valid offset, defense or
counterclaim to any Mortgage Note or Mortgage, including the
obligation of the Mortgagor to pay the unpaid principal and
interest on such Mortgage Note;
(viii) As of the date of the initial issuance of the
Certificates, the physical property subject to any Mortgage
(or, in the case of a Cooperative Loan, the related
Cooperative Apartment) is free of material damage and is in
good repair;
(ix) Each Mortgage Loan at the time it was made
complied in all material respects with applicable state and
federal laws, including, without limitation, usury, equal
credit opportunity and disclosure laws;
(x) Other than with respect to Cooperative Loans, a
lender's title insurance policy or binder, or other
assurance of title insurance customary in the relevant
jurisdiction therefor was issued on the date of the
origination of each Mortgage Loan and each such policy or
binder is valid and remains in full force and effect;
(xi) None of the Mortgage Loans constitute Pledged
Asset Mortgage Loans. The Loan-to-Value Ratio of each
Mortgage Loan was not more than 95%. As of the Cut-off Date,
no more than 16.50% of the Mortgage Loans by Scheduled
Principal Balance
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had Loan-to-Value Ratios of more than 80%
and each such Mortgage Loan is covered by a Primary
Insurance Policy so long as its then outstanding principal
amount exceeds 80% of the greater of (a) the Original Value
and (b) the then current value of the related Mortgaged
Property as evidenced by an appraisal thereof satisfactory
to the Company. Each Primary Insurance Policy is issued by a
private mortgage insurer acceptable to FNMA or FHLMC;
(xii) Each Mortgage Note is payable on the first day of
each month in self-amortizing monthly installments of
principal and interest, with interest payable in arrears,
over an original term of not more than thirty years. The
Mortgage Rate of each Mortgage Note of the related Mortgage
Loan was not less than 6.375% per annum and not greater than
8.500% per annum. The Mortgage Rate of each Mortgage Note is
fixed for the life of the related Mortgage Loan;
(xiii) Other than with respect to Cooperative Loans,
the improvements on the Mortgaged Properties are insured
against loss under a hazard insurance policy with extended
coverage and conforming to the requirements of Section 3.06
hereof. As of the date of initial issuance of the
Certificates, all such insurance policies are in full force
and effect;
(xiv) As of the Cut-off Date, (i) no more than 8.75% of
the Mortgage Loans by Scheduled Principal Balance had a
Scheduled Principal Balance of more than $500,000 and up to
and including $750,000; (ii) no more than 0.25% of the
Mortgage Loans by Scheduled Principal Balance had a
Scheduled Principal Balance of more than $750,000 and up to
and including $1,000,000; and (iii) none of the Mortgage
Loans by Scheduled Principal Balance had a Scheduled
Principal Balance of more than $1,000,000;
(xv) As of the Cut-off Date, no more than 1.00% of the
Mortgage Loans by Scheduled Principal Balance are secured by
Mortgaged Properties located in any one postal zip code
area;
(xvi) As of the Cut-off Date, at least 97.75% of the
Mortgage Loans by Scheduled Principal Balance are secured by
Mortgaged Properties determined by the Company to be the
primary residence of the Mortgagor. The basis for such
determination is the making of a representation by the
Mortgagor at origination that he or she intends to occupy
the underlying property;
(xvii) As of the Cut-off Date, at least 90.75% of the
Mortgage Loans by Scheduled Principal Balance are secured by
one-family detached residences;
(xviii) As of the Cut-off Date, no more than 3.50% of
the Mortgage Loans by Scheduled Principal Balance are
secured by condominiums and, as of the Cut-off Date, no more
than 0.75% of the Mortgage Loans by Scheduled Principal
Balance are secured by two- to four-family residential
properties. As to each condominium or related Mortgage Loan,
(a) the related condominium is in a project that is on the
FNMA or FHLMC approved list, (b) the related condominium is
in a project that, upon submission of appropriate
application, could be so approved by either FNMA or FHLMC,
(c) the
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related Mortgage Loan meets the requirements for
purchase by FNMA or FHLMC, (d) the related Mortgage Loan is
of the type that could be approved for purchase by FNMA or
FHLMC but for the principal balance of the related Mortgage
Loan or the pre-sale requirements or (e) the related
Mortgage Loan has been approved by a nationally recognized
mortgage pool insurance company for coverage under a
mortgage pool insurance policy issued by such insurer. As of
the Cut-off Date, no more than [[ ]]% of the Mortgage Loans
by Scheduled Principal Balance are secured by condominiums
located in any one postal zip code area;
(xix) Other than with respect to Cooperative Loans, no
Mortgage Loan is secured by a leasehold interest in the
related Mortgaged Property and each Mortgagor holds fee
title to the related Mortgaged Property;
(xx) As of the Cut-off Date, no more than 1% of the
Mortgage Loans by Scheduled Principal Balance constituted
Buydown Mortgage Loans. The maximum Buydown Period for any
Buydown Mortgage Loan is three years, and the maximum
difference between the stated Mortgage Rate of any Buydown
Mortgage Loan and the rate paid by the related Mortgagor is
three percentage points. The portion of the interest rate
paid by the related Mortgagor will not increase by more than
one percentage point for each six- month period.
(xxi) The original principal balances of the Mortgage
Loans range from $228,000 to $1,000,000;
(xxii) As of the Cut-off Date, no more than 2.00% of
the Mortgage Loans by Scheduled Principal Balance are
secured by second homes and no more than 0.50% of the
Mortgage Loans by Scheduled Principal Balance are secured by
investor-owned properties;
(xxiii) All appraisals have been prepared substantially
in accordance with the description contained under the
caption "The Trust Fund - The Mortgage Loans" in the
prospectus dated May 26, 1998, included in the registration
statement on Form S-3 (file no. 333-51151) filed by the
Company with the Securities and Exchange Commission with
respect to the offer and sale of certain Classes of the
Certificates;
(xxiv) No selection procedures, other than those
necessary to comply with the representations and warranties
set forth herein or the description of the Mortgage Loans
made in any disclosure document delivered to prospective
investors in the Certificates, have been utilized in
selecting the Mortgage Loans from the Company's portfolio
which would be adverse to the interests of the
Certificateholders;
(xxv) Other than with respect to Cooperative Loans, to
the best of the Company's knowledge, at origination no
improvement located on or being part of a Mortgaged Property
was in violation of any applicable zoning and subdivision
laws and ordinances;
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(xxvi) None of the Mortgage Loans is a temporary
construction loan. With respect to any Mortgaged Property
which constitutes new construction, the related construction
has been completed substantially in accordance with the
specifications therefor and any incomplete aspect of such
construction shall not be material or interfere with the
habitability or legal occupancy of the Mortgaged Property.
Mortgage Loan amounts sufficient to effect any such
completion are in escrow for release upon or in connection
with such completion or a performance bond or completion
bond is in place to provide funds for this purpose and such
completion shall be accomplished within 120 days after
weather conditions permit the commencement thereof;
(xxvii) As of the Closing Date, each Mortgage Loan is a
"qualified mortgage" as defined in Section 860G(a)(3) of the
Code;
(xxviii) As of the Closing Date, the Company possesses
the Document File with respect to each Mortgage Loan, and,
other than with respect to Cooperative Loans, the related
Mortgages and intervening assignment or assignments of
Mortgages, if any, have been delivered to a title insurance
company for recording;
(xxix) As of the Cut-Off Date, no more than 0.50% of
the Mortgage Loans, by Scheduled Principal Balance, are
Cooperative Loans. With respect to each Cooperative Loan:
(A) The Security Agreement creates a first lien in
the stock ownership and leasehold rights associated
with the related Cooperative Apartment;
(B) The lien created by the related Security
Agreement is a valid, enforceable and subsisting first
priority security interest in the related Cooperative
Stock securing the related Mortgage Note, subject only
to (a) liens of the Cooperative for unpaid assessments
representing the Mortgagor's pro rata share of the
Cooperative's payments for its blanket mortgage,
current and future real property taxes, insurance
premiums, maintenance fees and other assessments to
which like collateral is commonly subject and (b) other
matters to which like collateral is commonly subject
which do not materially interfere with the benefits of
the security intended to be provided by the Security
Agreement. There are no liens against or security
interest in the Cooperative Stock relating to such
Cooperative Loan (except for unpaid maintenance,
assessments and other amounts owed to the related
Cooperative which individually or in the aggregate do
not have a material adverse effect on such Cooperative
Loan), which have priority over the Trustee's security
interest in such Cooperative Stock;
(C) The Cooperative Stock that is pledged as
security for the Mortgage Loan is held by a person as a
"tenant-stockholder" within the meaning of section 216
of the Code, the related Cooperative that owns title to
the related cooperative apartment building is a
"cooperative
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housing corporation" within the meaning of
section 216 of the Code, and such Cooperative is in
material compliance with applicable federal, state and
local laws which, if not complied with, could have a
material adverse effect on the Mortgaged Property; and
(D) There is no prohibition against pledging the
Cooperative Stock or assigning the Proprietary Lease;
and
(xxx) With respect to each Mortgage Loan identified on
Exhibit C as having been originated or acquired under the
Company's Enhanced Streamlined Refinance program, the value
of the related Mortgaged Property, as of the date of such
origination or acquisition under the Company's Enhanced
Streamlined Refinance program, is no less than the value
thereof established at the time the mortgage loan that is
the subject of the refinancing was originated.
It is understood and agreed that the representations
and warranties set forth in this Section 2.03(a) shall survive
delivery of the respective Mortgage Files to the Trustee. Upon
discovery by either the Company or the Trustee of a breach of any
of the foregoing representations and warranties which materially
and adversely affects the interests of the Certificateholders in
the related Mortgage Loan, the party discovering such breach
shall give prompt written notice to the other. Subject to the
following sentence, within 60 days of its discovery or its
receipt of notice of breach, or, with the prior written consent
of a Responsible Officer of the Trustee, such longer period
specified in such consent, the Company shall cure such breach in
all material respects or shall repurchase such Mortgage Loan from
the Trustee or replace such Mortgage Loan pursuant to Section
2.03(b). Any such repurchase by the Company shall be accomplished
in the manner set forth in Section 2.02, subject to the proviso
of the third-to-last sentence thereof, and at the Purchase Price.
It is understood and agreed that the obligation of the Company to
repurchase or replace any Mortgage Loan as to which a breach
occurred and is continuing shall constitute the sole remedy
respecting such breach available to Certificateholders or the
Trustee on behalf of Certificateholders and such obligation of
the Company to repurchase or replace any such Mortgage Loan shall
not be assumed by any Person which may succeed the Company as
servicer hereunder, but shall continue as an obligation of the
Company. Notwithstanding the preceding sentence, if a breach of
the representation and warranty of the Company contained in
Section 2.03(a)(ix) occurs as a result of a violation of the
federal Truth in Lending Act, 15 U.S.C. ss. 1601 et seq., as
amended ("TILA") or any state truth-in lending or similar
statute, and the Trustee or the Trust Fund is named as a
defendant in a TILA suit or a suit under any such statutes in
respect of such violation and liability in respect thereof is
imposed upon the Trustee or the Trust Fund as assignees of the
related Mortgage Loan pursuant to Section 1641 of TILA, or any
analogous provision of any such statute, the Company shall
indemnify the Trustee and the Trust Fund from, and hold them
harmless against, any and all losses, liabilities, damages,
claims or expenses (including reasonable attorneys' fees) to
which the Trustee and the Trust Fund, or either of them, become
subject pursuant to TILA or any such statute, insofar as such
losses, damages, claims or expenses (including reasonable
attorneys' fees) result from such violation. The Company's
obligations under the preceding sentence shall not impair or
derogate from the Company's obligations to the Trustee under
Section 8.05.
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(b) If the Company is required to repurchase any Mortgage
Loan pursuant to Section 2.02 or 2.03(a), the Company may, at its
option, within the applicable time period specified in such
respective Sections, remove such Defective Mortgage Loan from the
terms of this Agreement and substitute one or more other mortgage
loans for such Defective Mortgage Loan, in lieu of repurchasing
such Defective Mortgage Loan, provided that no such substitution
shall occur more than two years after the Closing Date. Any
substitute Mortgage Loan shall (a) have a Scheduled Principal
Balance (together with that of any other Mortgage Loan
substituted for the same Defective Mortgage Loan) as of the first
Distribution Date following the month of substitution not in
excess of the Scheduled Principal Balance of the Defective
Mortgage Loan as of such date (the amount of any difference, plus
one month's interest thereon at the respective Remittance Rate,
to be deposited by the Company in the Certificate Account
pursuant to Section 2.02), (b) have a Mortgage Rate not less
than, and not more than one percentage point greater than, the
Mortgage Rate of the Defective Mortgage Loan, (c) have the same
Net Mortgage Rate as the Defective Mortgage Loan, (d) have a
remaining term to stated maturity not later than, and not more
than one year less than, the remaining term to stated maturity of
the Defective Mortgage Loan, (e) be, in the reasonable
determination of the Company, of the same type, quality and
character as the Defective Mortgage Loan as if the defect or
breach had not occurred, (f) have a ratio of its current
principal amount to its Original Value not greater than that of
the removed Mortgage Loan and (g) be, in the reasonable
determination of the Company, in compliance with the
representations and warranties contained in Section 2.03(a) as of
the date of substitution.
The Company shall amend the Mortgage Loan Schedule to
reflect the withdrawal of any Defective Mortgage Loan and the
substitution of a substitute Mortgage Loan therefor. Upon such
amendment the Company shall be deemed to have made as to such
substitute Mortgage Loan the representations and warranties set
forth in Section 2.03(a) as of the date of such substitution,
which shall be continuing as long as any Certificate shall be
outstanding or this Agreement has not been terminated, and the
remedies for breach of any such representation or warranty shall
be as set forth in Section 2.03(a). Upon such amendment, the
Trustee shall review the Mortgage File delivered to it relating
to the substitute Mortgage Loan, within the time and in the
manner and with the remedies specified in Section 2.02, except
that for purposes of this Section 2.03(b) (other than the
two-year period specified in the first sentence of the preceding
paragraph of this Section 2.03(b)), such time shall be measured
from the date of the applicable substitution.
Section 2.04. Execution of Certificates. The Trustee has
caused to be executed, countersigned and delivered to or upon the
order of the Company, in exchange for the Mortgage Loans, the
Certificates in authorized denominations evidencing the entire
ownership of the Trust Fund.
Section 2.05. The REMICs. (a) For federal income tax
purposes, the Trust Fund shall consist of two REMICs, the Lower
Tier REMIC and the Upper Tier REMIC. The Certificates, other than
the Class RL Certificate, shall be issued by the Upper Tier
REMIC, and the Class RL Certificate shall be issued by the Lower
Tier REMIC. The Lower Tier REMIC shall be evidenced by the Class
RL Certificate and the regular interests having the
characteristics and terms set forth in the following table, which
interests (other than the Class RL Certificate) shall be issued
by the Lower Tier REMIC to the Trustee. The Lower Tier Interests
and the proceeds
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thereof shall be assets of the Upper Tier REMIC.
Principal of and interest on the Lower Tier Interests shall be
allocated to the Corresponding Classes of Certificates (or
Components) in the manner set forth in the following table.
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Corresponding Class
of Certificates(1)
Lower Tier Initial Lower Lower Tier Allocation Allocation
Interest Tier Balance Interest Rate of Principal of Interest
A1 65,519,000.00 6.750% A1 (2)
A2 78,008,000.00 6.750 A2 (3)
A3 2,572,000.00 6.750 A3 (3)
A4 37,703,000.00 6.750 A4 (4)
A5 34,035,930.00 (5) A5 A5
A6 6,302,950.00 (5) A6 A6
A7 75,000,000.00 6.750 A7 A7
A8 1,719,000.00 6.750 A8 A8
A9 7,735,000.00 6.750 A9 A9
A10 70,809,000.00 6.750 A10 A10
A11 24,605,000.00 6.750 A11 (2)
A12A PAC 4,921,000.00 6.750 A12 (2)
A12B TAC 95,079,000.00 6.750 A12 (4)
PO 865,655.64 0.000 PO N/A
M 9,729,365.00 6.750 M M
B1 4,207,293.00 6.750 B1 B1
B2 2,366,602.00 6.750 B2 B2
B3 2,103,646.00 6.750 B3 B3
B4 1,051,823.00 6.750 B4 B4
B5 1,578,247.19 6.750 B5 B5
R 60.00 6.750 R R
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(1) Unless otherwise indicated, the amount of interest and
principal allocable from a Lower Tier Interest to its
Corresponding Class or Classes of Certificates on any
Distribution Date shall be 100%.
(2) For each Interest Accrual Period, the aggregate of interest
accrued on Lower Tier Interests A1, A11 and A12A PAC shall
be allocable as follows: (i) an amount equal to the interest
accrued for such Interest Accrual Period on the Class A1 and
Class A11 Certificates and in respect of the Class A12A PAC
Component (in the latter case at a per annum rate of 6.50%)
shall be allocable to the Class A1, Class A11 and Class A12
Certificates, respectively, and (ii) the excess of the
interest accrued on each such Lower Tier Interest over the
amounts allocated in clause (i) above shall be allocable to
the Class A7 Certificates.
(3) For each Interest Accrual Period, the aggregate of interest
accrued on Lower Tier Interests A2 and A3 shall be allocable
as follows: (i) an amount equal to the interest accrued for
such Interest Accrual Period on the Class A2 and Class A3
Certificates shall be allocable to the Class A2 and Class A3
Certificates, respectively, and (ii) the excess of the
interest accrued on each such Lower Tier Interest over the
amounts allocated in clause (i) above shall be allocable to
the Class A7 Certificates.
(4) For each Interest Accrual Period, the aggregate of interest
accrued on Lower Tier Interests A4 and A12B TAC shall be
allocable as follows: (i) an amount equal to the interest
accrued for such Interest Accrual Period on the Class A4
Certificates and the Class A12B TAC Component (in the latter
case, at a per annum rate of 6.50%) shall be allocable to
the Class A4 Certificates and the Class A12 Certificatest,
respectively, and (ii) the excess of the interest accrued on
each such Lower Tier Interest over the amounts allocated in
clause (i) above shall be allocable to the Class A7
Certificates.
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(5) The Certificate Interest Rates of Lower Tier Interests A5
and A6 Certificates for each Interest Accrual Period shall
equal such rates for the Class A5 and Class A6 Certificates,
respectively.
(b) The Lower Tier Interests shall be issued as
non-certificated interests. The Class RL Certificate shall be
issued in fully registered certificated form and shall be
executed and countersigned as provided in Section 5.01 hereof.
(c) For purposes of further identifying the terms of the
Lower Tier Interests, distributions of principal and interest on
each Class of Lower Tier Interests shall be considered to
correspond, in timing and aggregate amount, to the distributions
of principal and interest, respectively, made under Section 4.01
on the Corresponding Classes of Certificates or Components, and
allocations of losses on each Class of Lower Tier Interests shall
be considered to correspond, in timing and aggregate amount, to
the allocations of losses made under Section 4.03 on the
Corresponding Classes of Certificates or Components.
(d) On each Distribution Date, in addition to amounts
otherwise distributable thereon pursuant to Section 4.01, the
Trustee shall distribute to the holder of the Class RL
Certificate any amounts (other than the amounts described in
clauses (x) and (y) of the definition of Available Funds)
remaining in the Lower Tier REMIC after all amounts required to
be applied pursuant to Section 2.05(c) have been so applied. Any
distributions pursuant to this clause (d) shall not reduce the
Class Certificate Principal Balance of the Class RL Certificate.
Section 2.06. Designations under the REMIC Provisions.
(a) The Company hereby designates the Lower Tier Interests
identified in Section 2.05(a) above as "regular interests," and
the Class RL Certificate as the single class of "residual
interests," in the Lower Tier REMIC for purposes of the REMIC
Provisions.
(b) The Company hereby designates the Classes of
Certificates identified in Section 5.01(b), other than the
Residual Certificates, as "regular interests," and the Class R
Certificate as the single class of "residual interests," in the
Upper Tier REMIC for purposes of the REMIC Provisions.
(c) The Closing Date will be the "Startup Day" for each of
the Upper Tier REMIC and Lower Tier REMIC for purposes of the
REMIC Provisions.
(d) The "tax matters person" with respect to the Upper Tier
REMIC for purposes of the REMIC Provisions shall be (i) the
Company, if the Company is the owner of a Class R Certificate, or
(ii) in any other case, the beneficial owner of the Class R
Certificate having the largest Percentage Interest of such Class;
provided, however, that such largest beneficial owner and, to the
extent relevant, each other holder of a Class R Certificate, by
its acceptance thereof irrevocably appoints the Company as its
agent and attorney-in-fact to act as "tax matters person" with
respect to the Upper Tier REMIC for purposes of the REMIC
Provisions.
The "tax matters person" with respect to the Lower
Tier REMIC for purposes of the REMIC Provisions shall be (i) the
Company, if the Company is the owner of a Class RL Certificate,
or (ii) in any other case, the beneficial owner of the Class RL
Certificate having the largest Percentage Interest of such Class;
provided, however, that such largest beneficial owner
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and, to the extent relevant, each other holder of a Class RL
Certificate, by its acceptance thereof irrevocably appoints the
Company as its agent and attorney-in-fact to act as "tax matters
person" with respect to the Lower Tier REMIC for purposes of the
REMIC Provisions.
(e) The "latest possible maturity date" of the regular
interests in the Upper Tier REMIC and Lower Tier REMIC is the
Latest Possible Maturity Date for purposes of section 860G(a)(1)
of the Code.
(f) In no event shall the assets described in clause (ix) of
the definition of the term Trust Fund constitute a part of the
Upper Tier REMIC or the Lower Tier REMIC.
(g) In the event that the Servicing Fee exceeds the amount
reasonable for such services (within the meaning of Treasury
Regulation 1.860D-1(b)(1)(ii)), the portion or portions of such
fee that can be measured as a fixed number of basis points on
some or all of the Mortgage Loans and can be treated as one or
more stripped coupons within the meaning of Treasury Regulation
1.860D-1(b)(2)(iii) shall be treated as such stripped coupons and
shall not be treated as a REMIC asset.
ARTICLE III
ADMINISTRATION AND SERVICING OF MORTGAGE LOANS
Section 3.01. Company to Act as Servicer. (a) It is intended
that each of the Upper Tier REMIC and the Lower Tier REMIC
established hereunder shall constitute, and that the affairs of
the REMICs shall be conducted so as to qualify each of the Upper
Tier REMIC and the Lower Tier REMIC (other than any collateral
fund established under the agreement referred to in Section
3.08(e)), as a "real estate mortgage investment conduit" as
defined in and in accordance with the REMIC Provisions. In
furtherance of such intention, the Company covenants and agrees
that it shall act as agent (and the Company is hereby appointed
to act as agent) on behalf of each of the Upper Tier REMIC and
the Lower Tier REMIC established hereunder and the respective
Holders of the Residual Certificates and that in such capacity it
shall:
(i) prepare and file, or cause to be prepared and
filed, in a timely manner, a U.S. Real Estate Mortgage
Investment Conduit Income Tax Return (Form 1066) and prepare
and file or cause to be prepared and filed with the Internal
Revenue Service and applicable state or local tax
authorities income tax or information returns for each
taxable year with respect to each of the Upper Tier REMIC
and the Lower Tier REMIC established hereunder, using the
calendar year as the taxable year and the accrual method of
accounting, containing such information and at the times and
in the manner as may be required by the Code or state or
local tax laws, regulations, or rules, and shall furnish or
cause to be furnished to Certificateholders the schedules,
statements or information at such times and in such manner
as may be required thereby;
(ii) within thirty days of the Closing Date, shall
furnish or cause to be furnished to the Internal Revenue
Service, on Form 8811 or as otherwise may be required by the
Code, the name, title, address, and telephone number of the
person that the holders of the Certificates may contact for
tax information relating thereto (and the Company
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shall act as the representative of each of the Upper Tier
REMIC and the Lower Tier REMIC established hereunder for
this purpose), together with such additional information as
may be required by such Form, and shall update such
information at the time or times and in the manner required
by the Code;
(iii) make or cause to be made an election, on behalf
of each of the Upper Tier REMIC and the Lower Tier REMIC
established hereunder, to be treated as a REMIC, and make
the appropriate designations, if applicable, in accordance
with Section 2.06 hereof on the federal tax return of the
Trust Fund for its first taxable year (and, if necessary,
under applicable state law);
(iv) prepare and forward, or cause to be prepared and
forwarded, to the Certificateholders and to the Internal
Revenue Service and, if necessary, state tax authorities,
all information returns or reports, or furnish or cause to
be furnished by telephone, mail, publication or other
appropriate method such information, as and when required to
be provided to them in accordance with the REMIC Provisions,
including without limitation, the calculation of any
original issue discount using the Prepayment Assumption
Multiple;
(v) provide information necessary for the computation
of tax imposed on the transfer of a Residual Certificate to
a Disqualified Organization, or an agent (including a
broker, nominee or other middleman) of a Disqualified
Organization, or a pass-through entity in which a
Disqualified Organization is the record holder of an
interest (the reasonable cost of computing and furnishing
such information may be charged to the Person liable for
such tax);
(vi) use its best reasonable efforts to conduct the
affairs of each of the Upper Tier REMIC and the Lower Tier
REMIC established hereunder at all times that any
Certificates are outstanding so as to maintain the status
thereof as a REMIC under the REMIC Provisions;
(vii) not knowingly or intentionally take any action or
omit to take any action that would cause the termination of
the REMIC status of either of the Upper Tier REMIC or the
Lower Tier REMIC or that would subject the Trust Fund to
tax, except for taxes for which the Company is required to
indemnify the Lower Tier REMIC pursuant to Section 3.01(c);
(viii) exercise reasonable care not to allow the
creation of any "interests" (A) in the Upper Tier REMIC
within the meaning of section 860D(a)(2) of the Code in
addition to the interests represented by the Classes of
Certificates identified in Section 5.01(b) other than the
Class RL Certificate, and (B) in the Lower Tier REMIC within
the meaning of Section 860D(a)(2) of the Code in addition to
the interests represented by the Lower Tier Interests
identified in Section 2.05(a) and the Class RL Certificate;
(ix) exercise reasonable care not to allow the
occurrence of any "prohibited transactions" within the
meaning of section 860F of the Code, unless the Company
shall have provided an Opinion of Counsel to the Trustee
that such occurrence would not (a)
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result in a taxable gain, (b) otherwise subject the Trust
Fund to tax, or (c) cause either of the Upper Tier REMIC or
the Lower Tier REMIC established hereunder to fail to
qualify as a REMIC;
(x) exercise reasonable care not to allow the Trust
Fund to receive income from the performance of services or
from assets not permitted under the REMIC Provisions to be
held by a REMIC;
(xi) pay the amount of any federal or state tax,
including prohibited transaction taxes, taxes on certain
contributions to the Upper Tier REMIC or Lower Tier REMIC
after the Startup Day, and taxes on net income from
foreclosure property, imposed on the Trust Fund when and as
the same shall be due and payable (but such obligation shall
not prevent the Company or any other appropriate Person from
contesting any such tax in appropriate proceedings and shall
not prevent the Company from withholding payment of such
tax, if permitted by law, pending the outcome of such
proceedings);
(xii) ensure that federal, state or local income tax or
information returns shall be signed by the Trustee or such
other person as may be required to sign such returns by the
Code or state or local laws, regulations or rules; and
(xiii) maintain such records relating to each of the
Upper Tier REMIC and the Lower Tier REMIC established
hereunder, including but not limited to the income,
expenses, individual Mortgage Loans (including Mortgaged
Property), other assets and liabilities thereof, and the
fair market value and adjusted basis of the property of each
determined at such intervals as may be required by the Code,
as may be necessary to prepare the foregoing returns,
schedules, statements or information.
The Company shall be entitled to be reimbursed
pursuant to Section 3.04 for any federal income taxes paid by it
pursuant to clause (xi) of the preceding sentence, except to the
extent that such taxes are imposed as a result of the bad faith,
misfeasance or negligence of the Company in the performance of
its obligations hereunder. The Company shall not be entitled to
be reimbursed for any taxes paid pursuant to the indemnification
provisions of Section 3.01(c) (except as provided therein). With
respect to any reimbursement of prohibited transaction taxes, the
Company shall inform the Trustee of the circumstances under which
such taxes were incurred.
(b) The Company shall service and administer the Mortgage
Loans and shall have full power and authority, acting alone or
through one or more Primary Servicers, to do any and all things
in connection with such servicing and administration which it may
deem necessary or desirable. Without limiting the generality of
the foregoing, the Company shall continue, and is hereby
authorized and empowered by the Trustee, to execute and deliver,
or file, as appropriate, on behalf of itself, the
Certificateholders and the Trustee or any of them, any and all
continuation statements, termination statements, instruments of
satisfaction or cancellation, or of partial or full release or
discharge and all other comparable instruments, with respect to
the Mortgage Loans and with respect to the properties subject to
the Mortgages. Without limitation of the foregoing, if the
Company in its individual capacity agrees to refinance any
Mortgage Loan upon the request of the related Mortgagor, the
Company, as servicer hereunder, may execute an
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instrument of assignment in customary form to the Company in its
individual capacity. In connection with any such refinancing, the
Trustee shall, upon certification of a Servicing Officer to the
effect that an amount equal to the principal balance of the
related Mortgage Loan together with accrued and unpaid interest
thereon at the applicable Remittance Rate to the date of such
certification has been credited to the Mortgage Loan Payment
Record, release the related Mortgage File to the Company
whereupon the Company may cancel the related Mortgage Note. Upon
request by the Company after the execution and delivery of this
Agreement, the Trustee shall furnish the Company with any powers
of attorney and other documents necessary or appropriate to
enable the Company to carry out its servicing and administrative
duties hereunder. Except as otherwise provided herein, the
Company shall maintain servicing standards substantially
equivalent to those required for approval by FNMA or FHLMC. The
Company shall not agree to any modification of the material terms
of any Mortgage Loan except as provided in the second sentence of
Section 3.02(a) and in Section 3.07. The Company shall not
release any portion of any Mortgaged Property from the lien of
the related Mortgage unless the related Mortgage Loan would be a
"qualified mortgage" within the meaning of the REMIC Provisions
following such release.
(c) [Intentionally Omitted.]
(d) The relationship of the Company (and of any
successor to the Company as servicer under this Agreement) to the
Trustee under this Agreement is intended by the parties to be
that of an independent contractor and not that of a joint
venturer, partner or agent.
(e) All costs incurred by the Company in effecting the
timely payment of taxes and assessments on the properties subject
to the Mortgage Loans shall not, for the purpose of calculating
monthly distributions to Certificateholders, be added to the
amount owing under the related Mortgage Loans, notwithstanding
that the terms of such Mortgage Loans so permit, and such costs
shall be recoverable by the Company to the extent permitted by
Section 3.04. The Company shall collect such amounts from the
Mortgagor and shall credit the Mortgage Loan Payment Record
accordingly.
(f) If the Company enters into a servicing agreement with
any servicer (a "Primary Servicer") pursuant to which such
Primary Servicer shall directly service certain Mortgage Loans
and the Company shall perform master servicing with respect
thereto, the Company shall not be released from its obligations
to the Trustee and Certificateholders with respect to the
servicing and administration of the Mortgage Loans in accordance
with the provisions of Article III hereof and such obligations
shall not be diminished by virtue of any such servicing agreement
or arrangement and the Company shall be obligated to the same
extent and under the same terms and conditions as if the Company
alone were servicing and administering the Mortgage Loans. Any
amounts received by a Primary Servicer in respect of a Mortgage
Loan shall be deemed to have been received by the Company whether
or not actually received by it. Any servicing agreement that may
be entered into and any transactions or services relating to the
Mortgage Loans involving a Primary Servicer in its capacity as
such shall be deemed to be between the Company and the Primary
Servicer alone, and the Trustee and the Certificateholders shall
have no claims, obligations, duties or liabilities with respect
thereto. Notwithstanding the foregoing, in the event the Company
has been removed as the servicer hereunder pursuant to Section
6.04 or Section 7.01, the Trustee or any successor servicer
appointed pursuant to Section 7.02 shall
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succeed to all of the Company's rights and interests (but not to
any obligations or liabilities of the Company arising prior to
the date of succession) under any servicing agreement with any
Primary Servicer in respect of the Mortgage Loans, subject to the
limitation on the Trustee's responsibilities under Section 7.02.
(g) In no event shall any collateral fund established under
the agreement referred to in Section 3.08(e) constitute an asset
of any REMIC established hereunder.
Section 3.02. Collection of Certain Mortgage Loan Payments;
Mortgage Loan Payment Record; Certificate Account. (a) The
Company shall make reasonable efforts to collect all payments
called for under the terms and provisions of the Mortgage Loans,
and shall, to the extent such procedures shall be consistent with
this Agreement, follow such collection procedures as it follows
with respect to mortgage loans comparable to the Mortgage Loans
in its servicing portfolio. Consistent with the foregoing, the
Company may in its discretion (i) waive any late payment charge
or any assumption fees or other fees which may be collected in
the ordinary course of servicing such Mortgage Loan and (ii) if a
default on the Mortgage Loan has occurred or is reasonably
foreseeable, arrange at any time prior to foreclosure with a
Mortgagor a schedule for the payment of due and unpaid principal
and interest for a period extending not longer than two years
after the date that such schedule is arranged. Any arrangement of
the sort described in clause (ii) above shall not affect the
amount or timing of the Company's obligation to make Monthly
Advances with respect to any Mortgage Loan which Monthly Advances
shall be made pursuant to the original amortization schedule
applicable to such Mortgage Loan.
(b) The Company shall establish and maintain a Mortgage Loan
Payment Record in which the following payments on and collections
in respect of each Mortgage Loan shall as promptly as practicable
be credited by the Company for the account of the Holders of the
Certificates:
(i) All payments on account of principal, including
Principal Prepayments (other than (A) payments of principal
due and payable on the Mortgage Loans on or before, and all
Principal Prepayments received before, the Cut-off Date, (B)
in the case of a substitute Mortgage Loan, payments of
principal due and payable on such Mortgage Loan on or before
the Determination Date in the month of substitution, and all
Principal Prepayments received before the first day of the
month of substitution, and (C) in the case of a replaced
Mortgage Loan, payments of principal due and payable on such
Mortgage Loan after the Determination Date in the month of
substitution, and all Principal Prepayments received in the
month of substitution);
(ii) All payments (other than (A) those due and
payable on or before the Cut-off Date, (B) in the case of a
substitute Mortgage Loan, those due and payable on such
Mortgage Loan on or before the Determination Date in the
month of substitution, and (C) in the case of a replaced
Mortgage Loan, those due and payable on such Mortgage Loan
after the Determination Date in the month of substitution)
on account of interest at the applicable Remittance Rate on
the Mortgage Loan received from the related Mortgagor,
including any Buydown Funds applied with respect to
interest at the applicable Remittance Rate on any Buydown
Mortgage Loan;
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(iii) All Liquidation Proceeds received by the Company
with respect to such Mortgage Loan and the Purchase Price
for any Mortgage Loan purchased by the Company pursuant to
Sections 2.02, 2.03 and 3.16 (including any amounts received
in respect of a substitution of a Mortgage Loan);
(iv) All Insurance Proceeds (including, for this
purpose, any amounts required to be credited by the Company
pursuant to the last sentence of Section 3.06) received by
the Company for the benefit of the Trust Fund, other than
proceeds to be applied to the restoration or repair of the
property subject to the related Mortgage or released, or to
be released, to the related Mortgagor in accordance with the
normal servicing procedures of the Company;
(v) All REO Proceeds;
(vi) All Unanticipated Recoveries; and
(vii) All amounts received by the Company with respect
to any Pledged Asset Mortgage Loan pursuant to the
liquidation of any Additional Collateral or pursuant to any
recovery under the Surety Bond in accordance with Section
4.09.
The foregoing requirements respecting credits to the
Mortgage Loan Payment Record are exclusive, it being understood
that, without limiting the generality of the foregoing, the
Company need not enter in the Mortgage Loan Payment Record
collections, Liquidation Proceeds or Insurance Proceeds in
respect of Mortgage Loans which have been previously released
from the terms of this Agreement, amounts representing fees or
late charge penalties payable by Mortgagors, or amounts received
by the Company for the account of Mortgagors for application
towards the payment of taxes, insurance premiums, assessments and
similar items.
(c) Subject to subsection (e) below, until the Business Day
prior to each Distribution Date on which amounts are required to
be transferred to the Certificate Account pursuant to subsection
(d) of this Section 3.02, the Company may retain and commingle
such amounts with its own funds and shall be entitled to retain
for its own account any gain or investment income thereon, and
any such investment income shall not be subject to any claim of
the Trustee or Certificateholders. To the extent that the Company
realizes any net loss on any such investments, the Company shall
deposit in the Certificate Account an amount equal to such net
loss at the time the Company is required to deposit amounts in
the Certificate Account pursuant to subsection (d) of this
section 3.02. Any such deposit shall not increase the Company's
obligation under said subsection (d).
(d) The Trustee shall establish and maintain with the
Trustee in its corporate trust department a single separate trust
account designated in the name of the Trustee for the benefit of
the Holders of the Certificates issued hereunder (the
"Certificate Account") into which the Company shall transfer, not
later than 11:00 a.m. New York time on the Business Day prior to
each Distribution Date, an amount in next day funds equal to the
sum of Available Funds for such Distribution Date and any
Unanticipated Recoveries received in the calendar month preceding
the month of such Distribution Date. If the Trustee does not
receive such transfer by 2:00 p.m. on such Business Day, it shall
give the Company written notice thereof.
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(e) If the Company or a Responsible Officer of the Trustee
obtains actual notice of or knowledge of the occurrence of either
(x) any Trigger Event or (y) the downgrade by S&P of General
Electric Capital Corporation's short-term senior unsecured debt
rating below A-1+ then, notwithstanding subsection (c) above, the
Company shall promptly establish, and thereafter maintain, one or
more Eligible Accounts in the name of the Trustee and bearing a
designation indicating that amounts therein are held for the
benefit of the Trustee and the Certificateholders, into which the
Company and any Primary Servicer shall deposit within two
Business Days after receipt, all amounts otherwise required to be
credited to the Mortgage Loan Payment Record pursuant to Section
3.02(b); provided, however, that such action shall not be
required if the Company delivers to the Trustee a letter from
each Rating Agency to the effect that the failure to take such
action will not cause such Rating Agency to withdraw or reduce
its then current ratings of the Certificates. All amounts so
deposited shall be held in trust for the benefit of
Certificateholders. Amounts so deposited may be invested at the
written instruction of the Company in Permitted Investments in
the name of the Trustee maturing no later than the Business Day
preceding the Distribution Date following the date of such
investment; provided, however, that any such Permitted Investment
which is an obligation of State Street Bank and Trust Company, in
its individual capacity and not in its capacity as Trustee, may
mature on such Distribution Date; and, provided further, that no
such Permitted Investment shall be sold before the maturity
thereof if the sale thereof would result in the realization of
gain prior to maturity unless the Company has obtained an Opinion
of Counsel that such sale or disposition will not cause the Trust
Fund to be subject to the tax on prohibited transactions under
section 860F of the Code, or otherwise subject the Trust Fund to
tax or cause either of the Upper Tier REMIC or the Lower Tier
REMIC established hereunder to fail to qualify as a REMIC. The
Trustee shall maintain physical possession of all Permitted
Investments, other than Permitted Investments maintained in
book-entry form. The Company, as servicer, shall be entitled to
retain for its own account any gain or other income from
Permitted Investments, and neither the Trustee nor
Certificateholders shall have any right or claim with respect to
such income. The Company shall deposit an amount equal to any
loss realized on any Permitted Investment as soon as any such
loss is realized. If the provisions in this subsection (e) become
operable, references in this Agreement to the Mortgage Loan
Payment Record and credits and debits to such Record shall be
deemed to refer to Eligible Accounts and transfers to and
withdrawals from such Eligible Accounts. Any action which may be
necessary to establish the terms of an account pursuant to this
Section 3.02(e) may be taken by an amendment or supplement to
this Agreement or pursuant to a written order of the Company,
which amendment, supplement or order shall not require the
consent of Certificateholders, provided that the Company has
delivered to the Trustee a letter from each Rating Agency to the
effect that such amendment, supplement or order will not cause
such Rating Agency to withdraw or reduce its then current ratings
of the Certificates.
Section 3.03. Collection of Taxes, Assessments and Other
Items. Other than with respect to any Cooperative Loan, the
Company shall establish and maintain with one or more depository
institutions one or more accounts into which it shall deposit all
collections of taxes, assessments, private mortgage or hazard
insurance premiums or comparable items for the account of the
Mortgagors. As servicer, the Company shall effect the timely
payment of all such items for the account of Mortgagors.
Withdrawals from such account or accounts may be made only to
effect payment of taxes, assessments, private mortgage or
standard hazard insurance premiums or comparable items, to
reimburse the Company out of related collections for any
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payments made regarding taxes and assessments or for any payments
made pursuant to Section 3.05 regarding premiums on Primary
Insurance Policies and Section 3.06 regarding premiums on
standard hazard insurance policies, to refund to any Mortgagors
any sums determined to be overages, or to pay interest owed to
Mortgagors to the extent required by law.
Section 3.04. Permitted Debits to the Mortgage Loan
Payment Record. The Company (or any successor servicer pursuant
to Section 7.02) may, from time to time, make debits to the
Mortgage Loan Payment Record for the following purposes:
(i) To reimburse the Company or the applicable Primary
Servicer for Liquidation Expenses theretofore incurred in
respect of any Mortgage Loan in an amount not to exceed the
amount of the related Liquidation Proceeds credited to the
Mortgage Loan Payment Record pursuant to Section
3.02(b)(iii); provided that the Company or the applicable
Primary Servicer shall not be entitled to reimbursement for
Liquidation Expenses incurred after the initiation of
foreclosure proceedings in respect of any Defaulted Mortgage
Loan that is repurchased pursuant to Section 3.16;
(ii) To reimburse the Company or the applicable Primary
Servicer for Insured Expenses and amounts expended by it
pursuant to Section 3.08 in good faith in connection with
the restoration of property damaged by an Uninsured Cause,
in an amount not to exceed the amount of the related
Insurance Proceeds and Liquidation Proceeds (net of any
debits pursuant to clause (i) above) and amounts
representing proceeds of other insurance policies covering
the property subject to the related Mortgage credited to the
Mortgage Loan Payment Record pursuant to Section 3.02(b)
(iii) and (iv);
(iii) To reimburse the Company to the extent permitted
by Sections 3.01(a) and 6.04;
(iv) To pay to the Company amounts received in respect
of any Defective Mortgage Loan or Defaulted Mortgage Loan
purchased by the Company to the extent that the distribution
of any such amounts on the Distribution Date upon which the
proceeds of such purchase are distributed would make the
total amount distributed in respect of any such Mortgage
Loan on such Distribution Date greater than the Purchase
Price therefor, net of any unreimbursed Monthly Advances
made by the Company;
(v) To reimburse the Company (or the Trustee, as
applicable) for Monthly Advances theretofore made in respect
of any Mortgage Loan to the extent of late payments, REO
Proceeds, Insurance Proceeds and Liquidation Proceeds in
respect of such Mortgage Loan;
(vi) To reimburse the Company from any Mortgagor
payment of interest or other recovery with respect to a
particular Mortgage Loan, to the extent not previously
retained by the Company, for unpaid Servicing Fees with
respect to such Mortgage Loan, subject to Section 3.08(d);
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(vii) To reimburse the Company (or the Trustee, as
applicable) for any Nonrecoverable Advance (which right of
reimbursement of the Trustee pursuant to this clause shall
be prior to such right of the Company);
(viii) To make transfers of funds to the Certificate
Account pursuant to Section 3.02(d); and
(ix) To deduct any amount credited to the Mortgage Loan
Payment Record in error.
The Company shall keep and maintain separate
accounting records, on a Mortgage Loan by Mortgage Loan basis,
for the purpose of accounting for debits to the Mortgage Loan
Payment Record pursuant to clauses (i), (ii), (iv), (v) and (vi)
of this Section 3.04; provided, however, that it is understood
and agreed that the records of such accounting need not be
retained by the Company for a period longer than the five most
recent fiscal years.
Section 3.05. Maintenance of the Primary Insurance
Policies. (a) The Company shall not take any action which would
result in non-coverage under any applicable Primary Insurance
Policy of any loss which, but for the actions of the Company,
would have been covered thereunder. To the extent coverage is
available, the Company shall keep or cause to be kept in full
force and effect each such Primary Insurance Policy until the
principal balance of the related Mortgage Note is 80% or less of
the greater of (i) the related Original Value and (ii) the then
current value of the property underlying the related Mortgage
Note as evidenced by an appraisal thereof satisfactory to the
Company; provided that no such Primary Insurance Policy need be
kept in effect if doing so would violate applicable law. The
Company shall not cancel or refuse to renew any such Primary
Insurance Policy applicable to a Mortgage Loan that is in effect
at the Closing Date and is required to be kept in force hereunder
unless the replacement Primary Insurance Policy for such canceled
or non-renewed policy is maintained with an insurer whose
claims-paying ability is acceptable to each Rating Agency for
mortgage pass-through certificates having ratings equal to or
better than the ratings then assigned to the Certificates by such
Rating Agency. The Company agrees to effect the timely payment of
the premium on each Primary Insurance Policy, and such costs not
otherwise recoverable shall be recoverable by the Company from
related Insurance Proceeds and Liquidation Proceeds pursuant to
Section 3.04.
(b) In connection with its activities as administrator and
servicer of the Mortgage Loans, the Company agrees to present, on
behalf of itself, the Trustee and the Certificateholders, claims
to the insurer under each Primary Insurance Policy and, in this
regard, to take such reasonable action as shall be necessary to
permit recovery under any Primary Insurance Policy respecting a
related defaulted Mortgage Loan. To the extent provided in
Section 3.02(b), any amounts collected by the Company under any
Primary Insurance Policy in respect of the Mortgage Loans
(including, without limitation, a Mortgage Loan purchased by a
related insurer) shall be credited to the Mortgage Loan Payment
Record.
Section 3.06. Maintenance of Hazard Insurance. The Company
shall cause to be maintained for each Mortgage Loan, other than a
Cooperative Loan, hazard insurance with a standard mortgagee
clause and with extended coverage in an amount which is at least
equal to the maximum insurable value of the improvements securing
such Mortgage Loan from time to
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time or the principal balance owing on such Mortgage Loan from
time to time, whichever is less. The Company shall also maintain
on property (other than Cooperative Apartments) acquired upon
foreclosure, or by deed in lieu of foreclosure, hazard insurance
with extended coverage in an amount which is at least equal to
the lesser of (i) the maximum insurable value from time to time
of the improvements which are a part of such property or (ii) the
unpaid principal balance of such Mortgage Loan at the time of
such foreclosure or deed in lieu of foreclosure plus accrued
interest and the good-faith estimate of the Company of related
Liquidation Expenses to be incurred in connection therewith. To
the extent provided in Section 3.02(b)(iv), amounts collected by
the Company under any such policies in respect of the Mortgage
Loans shall be credited to the Mortgage Loan Payment Record. Such
costs shall be recoverable by the Company pursuant to Sections
3.03 and 3.04. In cases in which property securing any Mortgage
Loan other than a Cooperative Loan is located in a federally
designated flood area, the hazard insurance to be maintained for
such Mortgage Loan shall include flood insurance. All such flood
insurance shall be in such amounts as are required under
applicable guidelines of FNMA. The Company shall be under no
obligation to require that any Mortgagor maintain earthquake or
other additional insurance and shall be under no obligation
itself to maintain any such additional insurance on property
acquired in respect of a Mortgage Loan, other than pursuant to
such applicable laws and regulations as shall at any time be in
force and as shall require such additional insurance. If the
Company shall obtain and maintain a blanket policy insuring
against hazard losses on all of the Mortgage Loans (whether or
not including Cooperative Loans), it shall conclusively be deemed
to have satisfied its obligations as set forth in the first
sentence of this Section 3.06, it being understood and agreed
that such policy may contain a deductible clause, in which case
the Company shall, in the event that there shall not have been
maintained on the related Mortgaged Property a policy complying
with the first sentence of this Section 3.06, and there shall
have been a loss which would have been covered by such policy,
credit to the Mortgage Loan Payment Record the amount not
otherwise payable under the blanket policy because of such
deductible clause.
Section 3.07. Assumption and Modification Agreements. (a)
In any case in which property subject to a Mortgage has been or
is about to be conveyed by the Mortgagor, the Company shall
exercise its right to accelerate the maturity of such Mortgage
Loan under any "due-on-sale" clause applicable thereto, unless in
the reasonable discretion of the Company, such exercise would
adversely affect or jeopardize coverage under the related Primary
Insurance Policy, if any; provided, however, that if the Company
is prevented, as provided in Section 3.07(b), from enforcing any
such clause, the Company is authorized to make or enter into an
assumption and modification agreement from or with the Person to
whom such property has been or is about to be conveyed, pursuant
to which such Person becomes liable under the Mortgage Note and
the Mortgagor remains liable thereon. In connection with any such
assumption and modification agreement, the Company shall apply
its then current underwriting standards to such Person. The
Company shall not make or enter into any such assumption and
modification agreement, however, unless (to the extent
practicable in the circumstances) it shall have received
confirmation of the continued effectiveness of any applicable
Primary Insurance Policy and hazard insurance policy. The Company
shall notify the Trustee that any assumption and modification
agreement has been completed by forwarding to the Trustee the
original copy thereof, which copy shall be added by the Trustee
to the related Mortgage File and shall, for all purposes, be
considered a part of such Mortgage File to the same extent as all
other documents
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and instruments constituting a part thereof. In
connection with any such agreement, the Mortgage Rate, mortgage
term and any other material term of such Mortgage Loan shall not
be changed. Any fee collected by the Company for entering into
any such agreement will be retained by the Company as additional
servicing compensation.
(b) Notwithstanding Section 3.07(a) or any other
provision of this Agreement, the Company shall not be deemed to
be in default, breach or any other violation of its obligations
hereunder by reason of any assumption of a Mortgage Loan, or
transfer of the property subject to a Mortgage without the
assumption thereof, by operation of law or any assumption or
transfer which the Company reasonably believes it may be
restricted by law from preventing, for any reason whatsoever.
Section 3.08. Realization Upon Defaulted Mortgage Loans.
(a) The Company shall foreclose upon or otherwise comparably
convert the ownership of properties securing such of the Mortgage
Loans as come into and continue in default and as to which no
satisfactory arrangements can be made for collection of
delinquent payments pursuant to Section 3.02. In connection with
such foreclosure or other conversion the Company shall,
consistent with Section 3.05, follow such practices and
procedures as it shall deem necessary or advisable and as shall
be normal and usual in its general mortgage servicing activities.
The foregoing is subject to the proviso that the Company shall
not be required to expend its own funds in connection with any
foreclosure or towards the restoration of any property unless it
shall determine (i) that such restoration or foreclosure will
increase the proceeds of liquidation of the Mortgage Loan to
Certificateholders after reimbursement to itself for such
expenses and (ii) that such expenses will be recoverable to it
either through Liquidation Proceeds or Insurance Proceeds.
Notwithstanding the foregoing, the Company shall not be entitled
to recover legal expenses incurred in connection with foreclosure
proceedings where the Mortgage Loan is reinstated and such
foreclosure proceedings are terminated prior to completion, other
than sums received from the Mortgagor for such expenses.
Notwithstanding anything to the contrary contained
herein, the Company shall be under no obligation to foreclose
upon or otherwise convert the ownership of any Mortgaged Property
which it believes may be contaminated with or affected by
hazardous or toxic wastes, materials or substances. The Company
may, but shall not be obligated to, make such determination on
the basis of a Phase I environmental assessment with respect to
the related Mortgaged Property. Neither the Trustee nor the
Company shall be liable to the Trust Fund or the
Certificateholders if, based on the Company's belief that such
contamination or effect exists, the Company does not foreclose
upon or otherwise convert the ownership of a Mortgaged Property.
In addition, neither the Trustee nor the Company shall be liable
to the Trust Fund or the Certificateholders if, based on the
Company's belief that no such contamination or effect exists, the
Company forecloses upon a Mortgaged Property and the Trustee or
its nominee on behalf of the Trust Fund takes title to such
Mortgaged Property, and thereafter such Mortgaged Property is
determined to be so contaminated or affected.
(b) In the event that title to any Mortgaged Property is
acquired in foreclosure or by deed in lieu of foreclosure, the
deed or certificate of sale shall be issued to the Trustee, or to
its nominee on behalf of the Trust Fund. Notwithstanding any such
acquisition of title and cancellation of the related Mortgage
Loan, such Mortgage Loan shall (except for purposes of
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Section 9.01) be considered to be an Outstanding Mortgage Loan
until such time as the Mortgaged Property shall be sold and such
Mortgage Loan becomes a Liquidated Mortgage Loan. Consistent with
the foregoing, for purposes of all calculations hereunder so long
as such Mortgage Loan shall be considered to be an Outstanding
Mortgage Loan, it shall be assumed that the related Mortgage Note
and its amortization schedule in effect on and after such
acquisition of title (after giving effect to any previous
Principal Prepayments and Deficient Valuations incurred
subsequent to the related Bankruptcy Coverage Termination Date
and before any adjustment thereto by reason of any bankruptcy
(other than as aforesaid) or any similar proceeding or any
moratorium or similar waiver or grace period) remain in effect
(notwithstanding that the indebtedness evidenced by such Mortgage
Note shall have been discharged), subject to adjustment to
reflect the application of REO Proceeds received in any month.
REO Proceeds received in any month shall be applied to the
payment of the installments of principal due and interest accrued
on the related REO Mortgage Loan in accordance with the terms of
such Mortgage Note. REO Proceeds received in any month in excess
of the Amortization Payment for such month due on an REO Mortgage
Loan shall be treated as a Principal Prepayment received in
respect of such Mortgage Loan.
(c) In the event that the Trust Fund acquires any Mortgaged
Property as aforesaid or otherwise in connection with a default
or imminent default on a Mortgage Loan, the Company shall dispose
of such Mortgaged Property prior to the close of the third
calendar year after the year of its acquisition by the Trust Fund
unless (a) the Trustee shall have been supplied with an Opinion
of Counsel to the effect that the holding by the Trust Fund of
such Mortgaged Property subsequent to such period (and specifying
the period beyond such period for which the Mortgaged Property
may be held) will not result in the imposition of taxes on
"prohibited transactions" of the Trust Fund as defined in section
860F of the Code, or cause either of the Upper Tier REMIC or the
Lower Tier REMIC established hereunder to fail to qualify as a
REMIC at any time that any Certificates are outstanding, in which
case the Trust Fund may continue to hold such Mortgaged Property
(subject to any conditions contained in such Opinion of Counsel),
or (b) the Trustee (at the Company's expense) or the Company
shall have applied for, not later than 61 days prior to the
expiration of such period, an extension of such period in the
manner contemplated by section 856(e)(3) of the Code, in which
case such period shall be extended by the time period permitted
by section 856(e)(3) of the Code. Notwithstanding any other
provision of this Agreement, no Mortgaged Property acquired by
the Trust Fund shall be rented (or allowed to continue to be
rented) or otherwise used for the production of income by or on
behalf of the Trust Fund or sold in such a manner or pursuant to
any terms that would (1) cause such Mortgaged Property to fail to
qualify at any time as "foreclosure property" within the meaning
of section 860G(a)(8) of the Code, (ii) subject the Trust Fund to
the imposition of any federal or state income taxes on "net
income from foreclosure property" with respect to such Mortgaged
Property within the meaning of section 860G(c) of the Code, or
(iii) cause the sale of such Mortgaged Property to result in the
receipt by the Trust Fund of any income from non-permitted assets
as described in section 860F(a)(2)(B) of the Code, unless the
Company has agreed to indemnify and hold harmless the Trust Fund
with respect to the imposition of any such taxes.
(d) Any collection of Insurance Proceeds or Liquidation
Proceeds will be applied in the following order of priority:
first, to reimburse the Company for any related unreimbursed
Liquidation Expenses and to reimburse the Company or the Trustee,
as applicable, for any
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related unreimbursed Monthly Advances; second, to accrued and
unpaid interest on the Mortgage Loan at the Mortgage Rate from
the date to which interest was last paid or advanced to the Due
Date prior to the Distribution Date on which such amounts are to
be distributed; and third, as a recovery of principal of the
Mortgage Loan. If the amount so allocated to interest is less
than the full amount of accrued and unpaid interest due on such
Mortgage Loan, the amount of such recovery will be allocated
among the Base Servicing Fee at the Base Servicing Fee Rate, the
Supplemental Servicing Fee at the Supplemental Servicing Fee Rate
and interest at the Remittance Rate in proportion to the amount
of such accrued interest which would have been allocated to each
such category in the absence of any shortfall. The resulting
Interest Loss shall be allocated among each such category in the
same proportion as described in the preceding sentence. The
portion so allocated to interest at the Remittance Rate shall be
allocated to the Certificates for purposes of making the
allocation specified in the definition of Certificate Interest
Loss.
(e) Notwithstanding anything to the contrary contained
herein, the Company shall have the right to enter into an
agreement substantially in the form of Exhibit K hereto with any
Person that is the Holder of 100% of the Class B5 Certificates
(provided that such form may be revised to delete the option on
the part of such Person to purchase a defaulted Mortgage Loan as
set forth in Section 2.02(f) thereof). Prior to entering into any
such agreement with any Person, the Company shall obtain a
certification from such Person to the effect that (1) such Person
is not an "affiliate" (within the meaning of the Prohibited
Transaction Exemption) of the Trustee and (ii) such Person will
not purchase any Certificates if such purchase would cause such
Person to hold more than a ten percent interest in the Mortgage
Pool. It is understood that the right of the Company to be
reimbursed for Monthly Advances and Nonrecoverable Advances under
this Agreement shall not be affected in any way by the provisions
of any such agreement. The Trustee hereby agrees to perform such
obligations as may be expressly required of it pursuant to the
provisions of such agreement and to promptly notify each party to
such agreement if a Responsible Officer of the Trustee (with
direct responsibility for administration of this Agreement)
becomes aware of any discussions, plans or events that might lead
to the Trustee's becoming an "affiliate" (within the meaning of
the Prohibited Transaction Exemption) of any Person with which
the Company has entered into such agreement, provided that the
contents of any such notification shall be kept confidential by
the parties to such agreement. The Company agrees to promptly
notify the Trustee upon entering into any such agreement. In
addition, the Company shall provide the Trustee with such
information as may be necessary for the Trustee to perform its
obligations thereunder, including written instructions, clearly
identifying the source, amount and application of funds to be
deposited or withdrawn from the Collateral Fund (as defined in
such agreement). The Trustee shall provide the Company with such
information concerning credits and debits to the Collateral Fund
on account of income, gains and losses realized from Collateral
Fund Permitted Investments (as defined in such agreement), and
costs associated with the purchase and sale thereof, as the
Company may request in order to prepare the instructions
described in the preceding sentence.
In addition, subject to the provisions of the
preceding paragraph, the Company shall have the right to enter
into an agreement substantially in the form of Exhibit K hereto
with the Person that is the Holder of 100% of the Class B4
Certificates, provided that (i) such Person is also the Holder of
100% of the Class B5 Certificates, (ii) such Person shall have no
rights under such agreement until the date on which the Class
Certificate Principal Balance of the Class
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B5 Certificates has been reduced to zero, and (iii) any rights of
such Person under such agreement shall terminate in the event
that such Person transfers, directly or indirectly, the Class B4
Certificates to any other Person.
Section 3.09. Trustee to Cooperate; Release of Mortgage
Files. Upon the payment in full of any Mortgage Loan, the Company
will immediately notify the Trustee by a certification (which
certification shall include a statement to the effect that all
amounts received in connection with such payment which are
required to be credited to the Mortgage Loan Payment Record
pursuant to Section 3.02 have been so credited) of a Servicing
Officer and shall request delivery to it of the Mortgage File. If
a Buydown Mortgage Loan is the subject of a Principal Prepayment
in full during the related Buydown Period, the related Buydown
Funds will be applied or returned to the Person entitled thereto
in accordance with the terms of such Buydown Mortgage Loan. Upon
receipt of such certification and request in form satisfactory to
the Trustee, the Trustee shall promptly, but in any event within
five Business Days, release the related Mortgage File to the
Company; provided, that the Trustee shall not be responsible for
any delay in the release of a Mortgage File resulting from acts
beyond its control, including without limitation, acts of God,
strikes, lockouts, riots, acts of war or terrorism, epidemics,
nationalization, governmental regulations imposed after the fact,
fire, communication line failures, computer viruses, power
failures, earthquakes or other disasters. Upon any such payment
in full, the Company is authorized to execute, pursuant to the
authorization contained in Section 3.01, an instrument of
satisfaction regarding such Mortgage, which instrument of
satisfaction shall be recorded by the Company if required by
applicable law and be delivered to the Person entitled thereto,
it being understood and agreed that no expenses incurred in
connection with such instrument of satisfaction shall be
reimbursed from amounts at the time credited to the Mortgage Loan
Payment Record. From time to time and as appropriate for the
servicing or foreclosure of any Mortgage Loan (including, without
limitation, collection under any Primary Insurance Policy), the
Trustee shall, upon request of the Company and delivery to the
Trustee of a receipt signed by a Servicing Officer, release the
related Mortgage File to the Company and shall execute such
documents as shall be necessary to the prosecution of any such
proceedings. Such receipt shall obligate the Company to return
the Mortgage File to the Trustee when the need therefor by the
Company no longer exists unless the Mortgage Loan shall be
liquidated, in which case, upon receipt of a certificate of a
Servicing Officer similar to that hereinabove specified, the
receipt shall be released by the Trustee to the Company.
Section 3.10. Servicing Compensation; Payment of Certain
Expenses by the Company. (a) As compensation for its activities
and obligations hereunder, the Company shall be entitled to
withhold and pay to itself out of each payment received by it on
account of interest on each Mortgage Loan (including the portion
of any Buydown Funds applied to the related Buydown Mortgage Loan
for the applicable period) an amount equal to the Servicing Fee.
The aggregate of the Servicing Fees payable to the Company on any
Distribution Date shall be reduced by the amount of any
Compensating Interest Payment for such Distribution Date.
Additional servicing compensation in the form of Prepayment
Interest Excess, assumption fees, modification fees, late payment
charges, interest income or gain with respect to amounts
deposited in the Certificate Account and invested by the Company
or otherwise shall be retained by the Company, subject to Section
3.10(b), if applicable. The Company shall be required to pay all
expenses incurred by it in connection with its activities
hereunder (including payment of Trustee fees and all other fees
and expenses not expressly stated hereunder to be for the account
of the Certificateholders) and
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shall not be entitled to reimbursement therefor except as
provided in Sections 3.01, 3.03, 3.04 and 3.08.
(b) The Company may, as a condition to granting any request
by a Mortgagor for any consent, modification, waiver or amendment
or any other matter or thing, the granting of which is in the
Company's discretion pursuant to the terms of the instruments
evidencing or securing the related Mortgage Loan and is permitted
by other sections of this Agreement, require (to the extent
permitted by applicable law) that such Mortgagor pay to it a
reasonable or customary fee in accordance with the schedule set
forth as Exhibit H (which may be amended from time to time by
provision of a revised schedule of such fees to the Trustee,
whereupon such revised schedule shall be deemed to be Exhibit H
hereunder) for the additional services performed in connection
with such request, together with any related costs and expenses
incurred by it. Such fees shall be additional servicing
compensation to the Company.
Section 3.11. Reports to the Trustee; Certificate
Account Statements. Not later than 15 days after each
Distribution Date, the Company shall forward to the Trustee a
statement, certified by a Servicing Officer, setting forth the
status of the Mortgage Loan Payment Record as of the close of
business on such Distribution Date and showing, for the period
covered by such statement, the aggregate of credits to the
Mortgage Loan Payment Record for each category of credit
specified in Section 3.02 and each category of debit specified in
Section 3.04.
Section 3.12. Annual Statement as to Compliance. The
Company will deliver to the Trustee, on or before March 31 of
each year, beginning with March 31, 1999, an Officer's
Certificate stating that (a) a review of the activities of the
Company during the preceding calendar year and of its performance
under this Agreement has been made under such Officer's
supervision and (b) to the best of such Officer's knowledge,
based on such review, the Company has fulfilled all its material
obligations under this Agreement throughout such year, or, if
there has been a default in the fulfillment of any such
obligation, specifying each such default known to such Officer
and the nature and status thereof.
Section 3.13. Annual Independent Public Accountants'
Servicing Report. On or before March 31 of each year, beginning
with March 31, 1999, the Company shall:
(a) furnish to a firm of independent public accountants
(which may also render other services to the Company) a statement
substantially to the effect that the Company has complied in all
material respects with the minimum servicing standards set forth
in the Uniform Single Attestation Program for Mortgage Bankers
(the "Minimum Servicing Standards") with respect to the mortgage
loans in the Company's servicing portfolio (which may exclude
home equity loans) or, if there has been material noncompliance
with such servicing standards, containing a description of such
noncompliance; and
(b) at its expense cause such firm of independent public
accountants to furnish a report to the Trustee stating its
opinion as to the Company's assertion contained in the statement
delivered pursuant to Section 3.13(a), which opinion shall be
based on an examination conducted by such firm in accordance with
the standards established by the American Institute of Certified
Public Accountants, including examining, on a test basis,
evidence about the Company's compliance with the Minimum
Servicing Standards. Such opinion shall be to the effect that the
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Company has complied in all material respects with the Minimum
Servicing Standards with respect to the mortgage loan portfolio
described in the Company's statement delivered pursuant to
Section 3.13(a) hereof or if there has been material
noncompliance with the Minimum Servicing Standards, shall contain
a description of such noncompliance in accordance with applicable
accounting standards. In rendering such report, such firm may
rely, as to matters relating to direct servicing of Mortgage
Loans by any primary servicer, upon comparable reports of
independent public accountants with respect to such primary
servicer.
Section 3.14. Access to Certain Documentation and
Information Regarding the Mortgage Loans. To the extent permitted
by applicable law, the Company shall provide to the Trustee,
Certificateholders which are regulated insurance entities and the
applicable insurance regulatory agencies thereof,
Certificateholders which are federally insured savings and loan
associations, the Office of Thrift Supervision, the FDIC and the
supervisory agents and examiners thereof access to the
documentation regarding the Mortgage Loans required by applicable
regulations of the Office of Thrift Supervision or of such
insurance regulatory agencies, as the case may be, such access
being afforded without charge but only upon reasonable request
and during normal business hours at the offices of the Company.
Nothing in this Section 3.14 shall derogate from the obligation
of the Company to observe any applicable law prohibiting
disclosure of information regarding the Mortgagors and the
failure of the Company to provide access as provided in this
Section 3.14 as a result of such obligation shall not constitute
a breach of this Section 3.14.
Section 3.15. Maintenance of Certain Servicing Policies. The
Company shall during the term of its service as servicer maintain
in force (i) a policy or policies of insurance covering errors
and omissions in the performance of its obligations as servicer
hereunder and (ii) a fidelity bond in respect of its officers,
employees or agents. Each such policy or policies and bond shall,
together, comply with the requirements from time to time of FNMA
for persons performing servicing for mortgage loans purchased by
such association.
Section 3.16. Optional Purchase of Defaulted Mortgage Loans.
The Company shall have the right, but not the obligation, to
purchase any Defaulted Mortgage Loan for a price equal to the
Purchase Price therefor. Any such purchase shall be accomplished
as provided in Section 4.04(a) hereof.
ARTICLE IV
PAYMENTS AND STATEMENTS
Section 4.01. Distributions. (a) On each Distribution
Date, the Trustee shall withdraw the Available Funds from the
Certificate Account and shall make distributions to Holders of
the Certificates as of the preceding Record Date in the following
order of priority, to the extent of the remaining Available
Funds:
(i) to each Class of Senior Certificates (other than
any Class of Principal Only Certificates), the Accrued
Certificate Interest thereon for such Distribution Date;
provided, however, that Accrued Certificate Interest on the
Class A9 Certificates and 5.50/6.75 of Accrued Certificate
Interest on the Class A7D Accrual Component for such
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Distribution Date shall be applied in the manner provided in
Section 4.01(e); and provided further, that any shortfall in
available amounts shall be allocated among such Classes (and
in the case of the Class A7 Certificates, among its
Specified Components) in proportion to the amount of Accrued
Certificate Interest that would otherwise be distributable
thereto (or added to the balance thereof);
(ii) to each Class of Senior Certificates (other than
any Class of Principal Only Certificates), any related
Unpaid Class Interest Shortfall for such Distribution Date;
provided, however, that any Unpaid Class Interest Shortfall
for the Class A9 Certificates and 5.50/6.75 of any Unpaid
Class Interest Shortfall for the Class A7D Accrual Component
for such Distribution Date shall be applied in the manner
provided in Section 4.01(e); and provided further, that any
shortfall in available amounts shall be allocated among such
Classes (and in the case of the Class A7 Certificates, among
its Specified Components) in proportion to the Unpaid Class
Interest Shortfall for each such Class on such Distribution
Date;
(iii) to the Classes of Senior Certificates in
reduction of the Class Certificate Principal Balances
thereof, as set forth in Exhibit O hereto without regard to
the use therein of the word "approximate" or any derivation
thereof; provided, however, that (1) references to the
"Aggregate PAC Balances Table" or "Aggregate TAC Balances
Table" shall mean the "Principal Balance Schedules" and (2)
defined terms used in Exhibit O shall have the meanings
assigned thereto in Article I hereof;
(iv) to the Class PO Certificates, any Class PO
Deferred Amount for such Distribution Date, up to an amount
not to exceed the Junior Optimal Principal Amount for such
Distribution Date, until the Class Certificate Principal
Balance of such Class has been reduced to zero; provided,
that any such amounts distributed to the Class PO
Certificates pursuant to this clause (iv) shall not reduce
the Class Certificate Principal Balance thereof;
(v) to the Class M Certificates, the Accrued
Certificate Interest thereon for such Distribution Date;
(vi) to the Class M Certificates, any Unpaid Class
Interest Shortfall therefor on such Distribution Date;
(vii) to the Class M Certificates, in reduction of the
Class Certificate Principal Balance thereof, such Class's
Allocable Share of the Junior Optimal Principal Amount on
such Distribution Date;
(viii) to the Class B1 Certificates, the Accrued
Certificate Interest thereon for such Distribution Date;
(ix) to the Class B1 Certificates, any Unpaid Class
Interest Shortfall therefor on such Distribution Date;
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(x) to the Class B1 Certificates, in reduction of the
Class Certificate Principal Balance thereof, such Class's
Allocable Share of the Junior Optimal Principal Amount on
such Distribution Date;
(xi) to the Class B2 Certificates, the Accrued
Certificate Interest thereon for such Distribution Date;
(xii) to the Class B2 Certificates, any Unpaid Class
Interest Shortfall therefor on such Distribution Date;
(xiii) to the Class B2 Certificates, in reduction of
the Class Certificate Principal Balance thereof, such
Class's Allocable Share of the Junior Optimal Principal
Amount on such Distribution Date;
(xiv) to the Class B3 Certificates, the Accrued
Certificate Interest thereon for such Distribution Date;
(xv) to the Class B3 Certificates, any Unpaid Class
Interest Shortfall therefor on such Distribution Date;
(xvi) to the Class B3 Certificates, in reduction of the
Class Certificate Principal Balance thereof, such Class's
Allocable Share of the Junior Optimal Principal Amount on
such Distribution Date;
(xvii) to the Class B4 Certificates, the Accrued
Certificate Interest thereon for such Distribution Date;
(xviii) to the Class B4 Certificates, any Unpaid Class
Interest Shortfall therefor on such Distribution Date;
(xix) to the Class B4 Certificates, in reduction of the
Class Certificate Principal Balance thereof, such Class's
Allocable Share of the Junior Optimal Principal Amount on
such Distribution Date;
(xx) to the Class B5 Certificates, the Accrued
Certificate Interest thereon for such Distribution Date;
(xxi) to the Class B5 Certificates, any Unpaid Class
Interest Shortfall therefor on such Distribution Date; and
(xxii) to the Class B5 Certificates, in reduction of
the Class Certificate Principal Balance thereof, such
Class's Allocable Share of the Junior Optimal Principal
Amount on such Distribution Date.
Notwithstanding the foregoing, amounts otherwise distributable
pursuant to clauses (vii), (x), (xiii), (xvi), (xix) and (xxii)
on any Distribution Date shall be reduced, in inverse order of
priority, by any amount distributed pursuant to clause (iv) on
such date, such that such amount distributed pursuant to clause
(iv) on such date shall be applied first to reduce the amount
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distributable pursuant to clause (xxii), and then, to the extent
of any excess, applied second, to reduce the amount distributable
pursuant to clause (xix), third, to reduce the amount
distributable pursuant to clause (xvi), fourth, to reduce the
amount distributable pursuant to clause (xiii), fifth, to reduce
the amount distributable pursuant to clause (x) and sixth, to
reduce the amount distributable pursuant to clause (vii).
(b) On each Distribution Date, the Trustee shall distribute
to the holder of the Class R Certificate any remaining amounts in
the Upper Tier REMIC for such Distribution Date after application
of all amounts described in clause (a) of this Section 4.01,
together with any Unanticipated Recoveries received by the
Company in the calendar month preceding the month of such
Distribution Date and not distributed on such Distribution Date
to the holders of outstanding Certificates of any other Class
pursuant to Section 4.01(e). Any distributions pursuant to this
clause (b) shall not reduce the Class Certificate Principal
Balance of the Class R Certificate.
(c) If on any Distribution Date the Class Certificate
Principal Balances of the Junior Certificates have each been
reduced to zero, the amount distributable to the Senior
Certificates other than the Class PO Certificates pursuant to
Section 4.01(a)(iii) for such Distribution Date and each
succeeding Distribution Date shall be allocated among such
Classes of Senior Certificates, pro rata, on the basis of their
respective Class Certificate Principal Balances immediately prior
to such Distribution Date, regardless of the priorities and
amounts set forth in Section 4.01(a)(iii).
(d) If on any Distribution Date (i) the Class Certificate
Principal Balance of the Class M Certificates or any Class of
Class B Certificates for which the related Prepayment
Distribution Trigger was satisfied on such Distribution Date is
reduced to zero and (ii) amounts distributable pursuant to
clauses (ii), (iv) and (v) of the Junior Optimal Principal Amount
remain undistributed on such Distribution Date after all amounts
otherwise distributable on such date pursuant to clauses (iv)
through (xxii) of Section 4.01(a) have been distributed, such
amounts shall be distributed on such Distribution Date to the
remaining Classes of Junior Certificates in order of priority,
such that no such distribution shall be made to any Class of
Junior Certificates while a prior such Class is outstanding.
(e) (1) On each Distribution Date through the related
Accretion Termination Date, the amounts allocable to the Class A9
Certificates pursuant to clauses (a)(i) and (a)(ii) of this
Section 4.01 shall not be distributable to the Class A9
Certificates pursuant to such clauses but shall instead be (i)
added to the Class Certificate Principal Balance thereof to the
extent of the related Accrual Amount for such Distribution Date,
and (ii) distributed to the TAC B Certificates and the Class A9
Certificates, before any distributions are made pursuant to
Section 4.01(a)(iii) but after distributions are made pursuant to
subsection (e)(2) below, in the following order of priority;
provided, however, that no amounts distributed pursuant to
priorities first through fourth below shall exceed the amount
necessary to reduce the aggregate Class Certificate Principal
Balance and Component Principal Balance of the TAC B Certificates
to the Aggregate TAC B Balance for such Distribution Date:
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first, pro rata, to the TAC C Certificates, up to the
amount necessary to reduce the aggregate Class Certificate
Principal Balance and Component Principal Balance thereof to
the Aggregate TAC C Balance for such Distribution Date;
second, concurrently to the TAC B Certificates, (1) 65%
of the remaining related Accrual Amount to the Class A4
Certificates and Class A12B TAC Component, and (2) 35% of
the remaining related Accrual Amount to the Class A7D
Accrual Component, until the earlier to occur of (1) the
Component Principal Balance of the Class A7D Accrual
Component having been reduced to zero or (2) both the
Certificate Principal Balance of the Class A4 Certificates
and the Component Principal Balance of the Class A12B TAC
Component having been reduced to zero;
third, to the Class A7D Accrual Component, until the
Component Principal Balance thereof has been reduced to
zero;
fourth, pro rata, to the Class A4 Certificates and the
Class A12B TAC Component, until the Class Certificate
Principal Balance of such Class and the Component Principal
Balance of such Component have each been reduced to zero;
and
fifth, to the Class A9 Certificates, until the Class
Certificate Principal Balance thereof has been reduced to
zero.
On each Distribution Date occurring after the Class A9
Accretion Termination Date, amounts allocable to the Class A9
Certificates pursuant to clauses (a)(i) and (a)(ii) of this
Section 4.01 shall be distributable on such Distribution Date
pursuant to such clauses to Holders of the Class A9 Certificates
as Accrued Certificate Interest.
(2) On each Distribution Date through the related Accretion
Termination Date, 5.50/6.75 of the amounts allocable to the Class
A7D Accrual Component pursuant to clauses (a)(i) and (a)(ii) of
this Section 4.01 shall not be distributable to the Class A7D
Accrual Component pursuant to such clauses but shall instead be
(i) added to the Component Principal Balance thereof to the
extent of the related Accrual Amount for such Distribution Date,
and (ii) distributed to the following Classes of Certificates,
before any distributions are made pursuant to Section
4.01(a)(iii) and subsection (e)(1) above, in the following order
of priority:
first, pro rata, to the TAC C Certificates, up to the
amount necessary to reduce the aggregate Class Certificate
Principal Balance and Component Principal Balance thereof to
the Aggregate TAC C Balance for such Distribution Date;
second, concurrently to the TAC B Certificates, (1) 65%
of the remaining related Accrual Amount to the Class A4
Certificates and Class A12B TAC Component, and (2) 35% of
the remaining related Accrual Amount to the Class A7D
Accrual Component, until both the Certificate Principal
Balance of the Class A4 Certificates and the Component
Principal Balance of the Class A12B TAC Component have been
reduced to zero; and
third, to the Class A7D Accrual Component, until the
Component Principal Balance thereof has been reduced to
zero.
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On each Distribution Date occurring after the Class
A7D Accretion Termination Date, amounts allocable to the Class
A7D Accrual Component pursuant to clauses (a)(i) and (a)(ii) of
this Section 4.01 shall be distributable on such Distribution
Date pursuant to such clauses to Holders of Class A7 Certificates
as Accrued Certificate Interest.
(f) In the event that in any calendar month the Company
recovers an amount (an "Unanticipated Recovery") in respect of
principal of a Mortgage Loan which had previously been allocated
as a Realized Loss to any Class of Certificates pursuant to
Section 4.03, on the Distribution Date in the next succeeding
calendar month the Trustee shall withdraw from the Certificate
Account and distribute to the holders of each outstanding Class
to which such Realized Loss had previously been allocated its
share (determined as described in the succeeding paragraph) of
such Unanticipated Recovery in an amount not to exceed the amount
of such Realized Loss previously allocated to such Class. When
the Class Certificate Principal Balance of a Class of
Certificates has been reduced to zero, the holders of such Class
shall not be entitled to any share of an Unanticipated Recovery,
and such Unanticipated Recovery shall be allocated among all
outstanding Classes of Certificates entitled thereto in
accordance with the preceding sentence, subject to the remainder
of this subsection (e). In the event that (1) any Unanticipated
Recovery remains undistributed in accordance with the preceding
sentence or (ii) the amount of an Unanticipated Recovery exceeds
the amount of the Realized Loss previously allocated to any
outstanding Classes with respect to the related Mortgage Loan, on
the applicable Distribution Date the Trustee shall distribute to
the holders of all outstanding Classes of the related
Certificates to which Realized Losses had previously been
allocated and not reimbursed their pro rata share (determined as
described below) of such excess in an amount not to exceed the
aggregate amount of any Realized Loss previously allocated to
such Class with respect to any other Mortgage Loan that has not
been recovered in accordance with Section 4.01(e). Any
distributions made pursuant to this Section 4.01(e) shall not
reduce the Class Certificate Principal Balance of the related
Certificate.
For purposes of the preceding paragraph, the share of
an Unanticipated Recovery allocable to any Class of Certificates
with respect to a Mortgage Loan shall be (i) with respect to the
Class PO Certificates, based on the applicable PO Percentage of
the principal portion of the Realized Loss previously allocated
thereto with respect to such Mortgage Loan (or all Mortgage Loans
for purposes of the next to last sentence of the preceding
paragraph), and (ii) with respect to any other Class of
Certificates, based on its pro rata share (in proportion to the
Class Certificate Principal Balances thereof with respect to such
Distribution Date) of the applicable Non-PO Percentage of the
principal portion of any such Realized Loss previously allocated
with respect to such Mortgage Loan (or Loans); provided, however,
that (i) the share of an Unanticipated Recovery allocable to a
Class PO Certificate with respect to any Mortgage Loan (or Loans)
shall be reduced by the aggregate amount previously distributed
to such Class on account of the applicable Class PO Deferred
Amount in respect of such Mortgage Loan (or Loans) and (ii) the
amount by which the distributions to the Class PO Certificates
have been so reduced shall be distributed to the Classes of
Certificates described in clause (ii) of the preceding paragraph
in the same proportion as described in such clause (ii). For
purposes of the preceding sentence, any Class PO Deferred Amount
distributed to a Class PO Certificate on previous Distribution
Dates shall be deemed to have been allocated in respect of the
Mortgage Loans as to which the applicable PO Percentage of the
principal portion of Realized Losses has previously
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been allocated to such Class on a pro rata basis (based on the amount
of Realized Losses so allocated).
Section 4.02. Method of Distribution. (a) All distributions
with respect to each Class of Certificates on each Distribution
Date shall be made pro rata among the outstanding Certificates of
such Class, based on the Percentage Interest in such Class
represented by each Certificate. Payments to the
Certificateholders on each Distribution Date will be made by the
Trustee to the Certificateholders of record on the related Record
Date (other than as provided in Section 9.01 respecting the final
distribution) by check or money order mailed to a
Certificateholder at the address appearing in the Certificate
Register, or upon written request by such Certificateholder to
the Trustee made not later than the applicable Record Date, by
wire transfer to a U.S. depository institution acceptable to the
Trustee, or by such other means of payment as such
Certificateholder and the Trustee shall agree.
(b) Each distribution with respect to a Book-Entry
Certificate shall be paid to the Depository, which shall credit
the amount of such distribution to the accounts of its Depository
Participants in accordance with its normal procedures. Each
Depository Participant shall be responsible for disbursing such
distribution to the Certificate Owners that it represents and to
each Financial Intermediary for which it acts as agent. Each
Financial Intermediary shall be responsible for disbursing funds
to the Certificate Owners that it represents. All such credits
and disbursements with respect to a Book-Entry Certificate are to
be made by the Depository and the Depository Participants in
accordance with the provisions of the applicable Certificates.
Neither the Trustee nor the Company shall have any responsibility
therefor except as otherwise provided by applicable law.
(c) The Trustee shall withhold or cause to be withheld such
amounts as it reasonably determines are required by the Code
(giving full effect to any exemptions from withholding and
related certifications required to be furnished by
Certificateholders or Certificate Owners and any reductions to
withholding by virtue of any bilateral tax treaties and any
applicable certification required to be furnished by
Certificateholders or Certificate Owners with respect thereto)
from distributions to be made to Non-U.S. Persons. If the Trustee
reasonably determines that a more accurate determination of the
amount required to be withheld for a distribution can be made
within a reasonable period after the scheduled date for such
distribution, it may hold such distribution in trust for a holder
of a Residual Certificate until such determination can be made.
For the purposes of this paragraph, a "Non-U.S. Person" is (i) an
individual other than a citizen or resident of the United States,
(ii) a partnership, corporation or entity treated as a
partnership or corporation for U.S. federal income tax purposes
not formed under the laws of the United States, any state thereof
or the District of Columbia (unless, in the case of a
partnership, Treasury regulations provide otherwise), (iii) any
estate, the income of which is not subject to U.S. federal income
taxation, regardless of source, and (iv) any trust, other than a
trust that a court within the United States is able to exercise
primary supervision over the administration of the trust and one
or more U.S. Persons have the authority to control all
substantial decisions of the trust.
Section 4.03. Allocation of Losses. (a) On or prior to each
Determination Date, the Company shall determine the amount of any
Realized Loss in respect of each Mortgage Loan that occurred
during the immediately preceding calendar month.
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(b) With respect to any Distribution Date, the principal
portion of each Realized Loss (other than any Excess Loss) shall
be allocated as follows:
(i) the applicable PO Percentage of the principal
portion of any such Realized Loss shall be allocated to the
Class PO Certificates until the Class Certificate Principal
Balance thereof has been reduced to zero; and
(ii) the applicable Non-PO Percentage of the principal
portion of any such Realized Loss shall be allocated in the
following order of priority:
first, to the Class B5 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero;
second, to the Class B4 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero;
third, to the Class B3 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero;
fourth, to the Class B2 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero;
fifth, to the Class B1 Certificates until the
Class Certificate Principal Balance thereof has been
reduced to zero;
sixth, to the Class M Certificates until the Class
Certificate Principal Balance thereof has been reduced
to zero; and
seventh, to the Classes of Senior Certificates
other than the Class PO Certificates, pro rata, in
accordance with their Class Certificate Principal
Balances; provided, that any such loss allocated to any
Class of Accrual Certificates (and any Accrual
Component) shall be allocated (subject to Section
4.03(d)) on the basis of the lesser of (x) the Class
Certificate Principal Balance (or Component Principal
Balance) thereof immediately prior to the applicable
Distribution Date and (y) the Class Certificate
Principal Balance (or Component Principal Balance)
thereof on the Closing Date (as reduced by any Realized
Losses previously allocated thereto); and provided,
further, that all such losses, other than Non-Credit
Losses, that would otherwise be allocable to the Class
A7 Certificates shall be allocable, first, to the Class
A8 Certificates, until the Class Certificate Balance
thereof has been reduced to zero, and second, to the
Class A7 Certificates.
(c) With respect to any Distribution Date, the principal
portion of any Excess Loss (other than Excess Bankruptcy Losses
attributable to Debt Service Reductions) shall be allocated as
follows: (1) the PO Percentage of any such loss shall be
allocated to the Class PO Certificates, and (2) the Non-PO
Percentage of any such loss shall be allocated to each Class of
Certificates other than the Class PO Certificates, pro rata,
based on the respective Class Certificate Principal Balances
thereof; provided, that any such loss allocated to any Class of
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Accrual Certificates (and any Accrual Component) shall be
allocated (subject to Section 4.03(d)) on the basis of the lesser
of (x) the Class Certificate Principal Balance (or Component
Principal Balance) thereof immediately prior to the applicable
Distribution Date and (y) the Class Certificate Principal Balance
(or Component Principal Balance) thereof on the Closing Date (as
reduced by any Realized Losses previously allocated thereto).
(d) Any Realized Losses allocated to a Class of
Certificates pursuant to Section 4.03(b) or (c) shall be
allocated among the Certificates of such Class in proportion to
their respective Certificate Principal Balances. In addition, any
Realized Losses allocated to any Class of Component Certificates
on a Distribution Date shall be allocated in reduction of the
Component Principal Balances of the related Components (other
than any Notional Component) in proportion to their respective
Component Principal Balances immediately prior to such
Distribution Date. Any allocation of Realized Losses pursuant to
this paragraph (d) shall be accomplished by reducing the
Certificate Principal Balance (or, in the case of any Component,
the Component Principal Balance) of the related Certificates (or
Components) on the related Distribution Date in accordance with
Section 4.03(e).
(e) Realized Losses allocated in accordance with this
Section 4.03 shall be allocated on the Distribution Date in the
month following the month in which such loss was incurred and, in
the case of the principal portion thereof, after giving effect to
distributions made on such Distribution Date, except that the
aggregate amount of Realized Losses to be allocated to the Class
PO Certificates on such Distribution Date will be taken into
account in determining distributions in respect of any Class PO
Deferred Amount for such date.
(f) On each Distribution Date, the Company shall determine
the Subordinate Certificate Writedown Amount, if any. Any such
Subordinate Certificate Writedown Amount shall effect a
corresponding reduction in the Certificate Principal Balance of
the Subordinate Certificates, which reduction shall occur on such
Distribution Date after giving effect to distributions made on
such Distribution Date.
(g) Notwithstanding the foregoing, no such allocation of
any Realized Loss shall be made on a Distribution Date to a Class
of Certificates to the extent that such allocation would result
in the reduction of the aggregate Certificate Principal Balances
of all the Certificates as of such Distribution Date, after
giving effect to all distributions and prior allocations of
Realized Losses on such date, to an amount less than the
aggregate Scheduled Principal Balance of the Mortgage Loans as of
the first day of the month of such Distribution Date, less any
Deficient Valuations occurring on or prior to the Bankruptcy
Coverage Termination Date (such limitation, the "Loss Allocation
Limitation").
(h) Any allocation of a Realized Loss to a Class of
Certificates (or Component), or of any Subordinate Certificate
Writedown Amount to a Class of Subordinate Certificates, pursuant
to this Section 4.03 shall effect a corresponding allocation
thereof to the corresponding Class of Lower Tier Interests and,
in the case of the principal portion of any such Realized Loss
and any such Subordinate Certificate Writedown Amount, a
corresponding reduction in the related Lower Tier Balance
thereof.
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Section 4.04. Monthly Advances; Purchases of Defaulted
Mortgage Loans. (a) The Company shall be required to make Monthly
Advances in the manner and to the extent provided herein. Prior
to the close of business on each Determination Date, the Company
shall determine (i) the amount of the Monthly Advance which it is
required to make on the related Distribution Date and (ii)
whether it has elected to purchase any Defaulted Mortgage Loan or
Loans on such Distribution Date. If the Company so elects to
purchase any Defaulted Mortgage Loans (or is required to purchase
any Mortgage Loan pursuant to Section 2.02 or 2.03(a)), no
Monthly Advance shall be required with respect thereto for the
month in which such purchase occurs. The Company shall include
information as to each of such determinations in the Servicer's
Certificate furnished by it to the Trustee in accordance with
Section 4.06 and shall be obligated to transfer to the
Certificate Account pursuant to Section 3.02(d) on or before
11:00 a.m. New York time on the Business Day next preceding the
following Distribution Date in next-day funds the respective
amounts applicable to such determinations appearing in such
Servicer's Certificate. Upon receipt by the Trustee of written
notification signed by a Servicing Officer of any such deposit
relating to the purchase by the Company of such a Mortgage Loan,
the Trustee shall release to the Company the related Mortgage
File and shall execute and deliver such instruments of transfer
or assignment, in each case without recourse, as shall be
necessary to vest in the Company any Mortgage Loan released
pursuant hereto.
(b) In the event that the Company transfers or expects to
transfer less than the Available Funds required to be deposited
by it pursuant to Section 3.02(d), the Company shall so notify
the Trustee no later than 9:00 a.m. on the Business Day preceding
the related Distribution Date, and the amount so transferred, if
any, shall be deemed to have been transferred first pursuant to
clause (i) of the definition of Available Funds, second pursuant
to clause (iii) of the definition of Available Funds, and third
pursuant to clause (ii) of the definition of Available Funds.
Such notice shall specify each Mortgage Loan delinquent as of the
preceding Determination Date. In such event, the Trustee shall
make any Monthly Advance required to be made hereunder, in the
manner and to the extent required; provided, the Trustee shall
not be so obligated if prohibited by applicable law.
(c) In the event that the Company is succeeded hereunder as
servicer, the obligation to make Monthly Advances in the manner
and to the extent required by Section 4.04(a) shall be assumed by
the successor servicer (subject to Section 7.02).
Section 4.05. Statements to Certificateholders. Each month,
at least two Business Days prior to each Distribution Date, the
Company shall deliver to the Trustee for mailing to each
Certificateholder, and the Trustee shall mail to each
Certificateholder on such Distribution Date, a statement (each, a
"Distribution Date Statement") substantially in the form of
Exhibit J hereto, setting forth:
(i) The amount of such distribution to the
Certificateholders of each Class (and in respect of any
Component), other than any Notional Certificates (and any
Notional Component), allocable to principal, separately
identifying the aggregate amount of any Principal
Prepayments included therein (including, for this purpose,
the Scheduled Principal Balances of all Defaulted Mortgage
Loans and Defective Mortgage Loans purchased pursuant to
Section 2.02, 2.03(b) or 3.16, respectively, and any amounts
deposited pursuant to Section 2.03(b) in connection with the
substitution of any Mortgage
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Loans pursuant to Section 2.02 or 2.03(a), the proceeds of
which purchases or substitutions are being distributed on
such Distribution Date);
(ii) The amount of such distribution to the
Certificateholders of each Class (other than any Class of
Principal Only Certificates) allocable to interest,
including any Accrual Amount added to the Class Certificate
Principal Balance or Component Principal Balance of any
Class of Accrual Certificates or any Accrual Components;
(iii) The amount of servicing compensation paid to the
Company during the month preceding the month of distribution
in respect of the Mortgage Loans and such other customary
information as the Company deems necessary or desirable to
enable Certificateholders to prepare their tax returns;
(iv) The Pool Scheduled Principal Balance and the
aggregate number of the Mortgage Loans on the preceding Due
Date after giving effect to all distributions allocable to
principal made on such Distribution Date;
(v) The Class Certificate Principal Balance (or
Notional Principal Balance) of each Class, the Component
Principal Balance of each Component and the Certificate
Principal Balance (or Notional Principal Balance) of a
Single Certificate of each Class after giving effect to (i)
all distributions allocable to principal (or reductions in
the Notional Principal Balance, in the case of the Notional
Certificates, or the addition of any Accrual Amount, in the
case of any Class of Accrual Certificates) made on such
Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Certificate Writedown Amount for
such Distribution Date;
(vi) The Pay-out Rate applicable to each Class of
Certificates;
(vii) The book value and unpaid principal balance of
any real estate acquired on behalf of Certificateholders
through foreclosure, or grant of a deed in lieu of
foreclosure or otherwise, of any REO Mortgage Loan, and the
number of the related Mortgage Loans;
(viii) The aggregate Scheduled Principal Balances and
number of Mortgage Loans which, as of the close of business
on the last day of the month preceding the related
Distribution Date, were (a) delinquent as to a total of (x)
30-59 days, (y) 60-89 days and (z) 90 days or more, and (b)
in foreclosure;
(ix) The Scheduled Principal Balance of any Mortgage
Loan replaced pursuant to Section 2.03(b);
(x) The Certificate Interest Rates of any LIBOR
Certificates, any COFI Certificates, and the Class A7
Certificates applicable to the Interest Accrual Period
relating to such Distribution Date and such Class;
(xi) The Senior Percentage, the Group II Senior
Percentage, the Group II Senior Scheduled Distribution
Percentage and the Junior Percentage for such Distribution
Date;
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(xii) The Senior Prepayment Percentage, the Group II
Senior Prepayment Distribution Percentage and the Junior
Prepayment Percentage for such Distribution Date; and
(xiii) The amount of such distribution to the
Certificateholders of each Class allocable to Unanticipated
Recoveries.
In the case of information furnished pursuant to
clauses (i) through (iii) above, the amounts shall be expressed
as a dollar amount per Single Certificate.
In connection with any proposed transfer of a
Certificate that is purported to be made in reliance on Rule 144A
under the Securities Act, the Company shall be responsible for
furnishing such information as may be required thereunder to a
proposed transferee. In furtherance of the Company's obligations
hereunder, the Company hereby instructs the Trustee, at the
Company's expense and on its behalf, and the Trustee agrees, to
promptly make available to the proposed transferee, upon request
of the holder, (i) all statements furnished to Certificateholders
pursuant to this Section 4.05(a) on previous Distribution Dates,
(ii) all certificates furnished to the Trustee pursuant to
Section 4.06 in prior months, (iii) Officer's Certificates
furnished to the Trustee pursuant to Section 3.12 for the two
years preceding such request, (iv) reports of independent
accountants furnished to the Trustee pursuant to Section 3.13 for
the two years preceding such request, (v) a copy of the Private
Placement Memorandum relating to such Certificate, together with
any amendments or supplements thereto issued by the Company
(which copy shall be furnished to the Trustee by the Company),
and (vi) the Company's Current Report on Form 8-K, dated the
Closing Date, relating to the Mortgage Loans; provided, however,
that the Trustee shall in no event be required to make available
such statements or certificates pursuant to clauses (i) and (ii)
above relating to Distribution Dates occurring more than
twenty-four months preceding the month in which such request was
received; provided, further, however, that notwithstanding the
Trustee's agreement as aforesaid to provide such materials to a
proposed transferee, the Trustee does not assume, and shall not
thereby be deemed to have assumed, any responsibility for
compliance by the Company with Rule 144A (subject to the
Trustee's agreement set forth in the second sentence of this
paragraph) and shall be entitled to include a notice with such
statements or certificates to the effect that such materials have
not been prepared or assembled by the Trustee and that the
Trustee assumes no responsibility for the adequacy, sufficiency
or contents thereof. In connection with any such proposed
transfer, the Company shall make available to the proposed
holder, at the request of the related transferor, such additional
information, if any, as may be required to be delivered pursuant
to Rule 144A(d)(4).
Section 4.06. Servicer's Certificate. Each month, not later
than the second Business Day next preceding each Distribution
Date, the Company shall deliver to the Trustee a completed
Servicer's Certificate.
Section 4.07. Reports of Foreclosures and Abandonments of
Mortgaged Property. The Trustee (or the Company on behalf of the
Trustee) shall, in each year beginning after 1998, make the
reports of foreclosures and abandonments of any Mortgaged
Property as required by section 6050J of the Code. In order to
facilitate this reporting process, the Company, on or before
January 15th of each year, shall provide to the Trustee reports
relating to each instance occurring
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during the previous calendar year in which the Company (i) on
behalf of the Trustee acquires an interest in a Mortgaged
Property through foreclosure or other comparable conversion in
full or partial satisfaction of a Mortgage Loan, or (ii) knows or
has reason to know that a Mortgaged Property has been abandoned.
Reports from the Company shall be in form and substance
sufficient to meet the reporting requirements imposed by section
6050J of the Code.
Section 4.08. Reduction of Base Servicing Fees by
Compensating Interest Payments. The aggregate amount of the Base
Servicing Fees subject to retention by the Company as servicer in
respect of any Distribution Date shall be reduced by the amount
of any Compensating Interest Payment for such Distribution Date.
Section 4.09. Surety Bond. (a) If a Required Surety Payment
is payable pursuant to the Surety Bond with respect to any
Pledged Asset Mortgage Loan, the Company shall so notify the
Trustee as soon as reasonably practicable and shall, on behalf of
the Trustee for the benefit of the Certificateholders, promptly
complete the notice in the form of Attachment 1 to the Surety
Bond and shall promptly submit such notice to the Surety as a
claim for a Required Surety Payment.
(b) Upon receipt of a Required Surety Payment from the
Surety on behalf of the Certificateholders, the Company shall
promptly credit the Mortgage Loan Payment Record and shall
distribute such Required Surety Payment, or the proceeds thereof,
in accordance with the provisions of Section 4.01.
ARTICLE V
THE CERTIFICATES
Section 5.01. The Certificates. (a) The Certificates shall
be substantially in the forms set forth in Exhibit A hereto, as
applicable, and shall, on original issue, be executed by the
Trustee, not in its individual capacity but solely as Trustee,
and countersigned and delivered by the Trustee to or upon the
order of the Company as provided in Article II.
(b) The Certificates shall be issued in an aggregate Initial
Certificate Principal Balance of $525,911,631. Such aggregate
original principal balance shall be divided among the Classes
having the designations, Class Certificate Principal Balances,
Certificate Interest Rates and minimum denominations as follows:
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Initial Class
Certificate Certificate
Principal Interest Minimum
Designation Balance Rate Denominations
- ----------- ------- ---- -------------
Class A1 $ 65,519,000.00 6.250% 25,000
Class A2 78,008,000.00 6.350 25,000
Class A3 2,572,000.00 6.350 25,000
Class A4 37,703,000.00 6.500 25,000
Class A5 34,035,930.00 (1) 25,000
Class A6 6,302,950.00 (1) 25,000
Class A7 75,000,000.00 (2) 25,000
Class A8 1,719,000.00 6.750 25,000
Class A9 7,735,000.00 6.750 25,000
Class A10 70,809,000.00 6.750 25,000
Class A11 24,605,000.00 6.200 25,000
Class A12 100,000,000.00 6.500 25,000
Class PO 865,655.64 0.000 250,000
Class M 9,729,365.00 6.750 100,000
Class B1 4,207,293.00 6.750 100,000
Class B2 2,366,293.00 6.750 100,000
Class B3 2,103,646.00 6.750 250,000
Class B4 1,051,823.00 6.750 250,000
Class B5 1,578,247.19 6.750 250,000
Class R 60.00 6.750 100
Class RL 60.00 6.750 100
- ----------------------.
(1) The Certificate Interest Rates of the Class A5 and Class A6
Certificates for each Interest Accrual Period shall be
determined as provided in Section 5.01(e).
(2) Interest will accrue on each Component of the Class A7
Certificates during each Interest Accrual Period at the
applicable interest rate set forth in the definition of
"Component" on the Component Principal Balance or Notional
Component Balance, as applicable, of such Component. The
amount of interest that will accrue on the Class A7
Certificates during each Interest Accrual Period will equal
the sum of the interest accrued during such Interest Accrual
Period on each Component of the Class A7 Certificates
(c) The Certificates shall be issuable in registered form
only. The Book-Entry Certificates will be evidenced by one or
more certificates, beneficial ownership of which will be held in
the minimum dollar denominations in Certificate Principal Balance
or Notional Principal Balance, as applicable, specified in
Section 5.01(b), and integral multiples of $1,000 in excess
thereof. The Non-Book-Entry Certificates other than each Class of
the Residual Certificates shall each be issued in the minimum
dollar denominations in Certificate Principal Balance or Notional
Principal Balance, as applicable, specified in Section 5.01(b),
and integral multiples of $1,000 in excess thereof (and, if
necessary, in the amount of the remaining Class Certificate
Principal Balance or Notional Principal Balance, as applicable,
of each Class, in the case of one Certificate of such Class).
Each Class of the Residual Certificates shall be issued as a
single certificate evidencing the entire Class Certificate
Principal Balance of such Class and having a
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Percentage Interest of 100%. If necessary, one Certificate of
each Class of Book-Entry Certificates may evidence an additional
amount equal to the remainder of the Class Certificate Principal
Balance (or Notional Principal Balance) of such Class.
(d) The Certificates shall be executed by manual or
facsimile signature on behalf of the Trustee by an authorized
officer under its seal, which may be in facsimile form and be
imprinted or otherwise reproduced thereon. Certificates bearing
the manual or facsimile signatures of individuals who were, at
the time when such signatures were affixed, authorized to sign on
behalf of the Trustee shall bind the Trustee, notwithstanding
that such individuals or any of them have ceased to be so
authorized prior to the authentication and delivery of such
Certificates or did not hold such offices at the date of such
Certificate. No Certificate shall be entitled to any benefit
under this Agreement, or be valid for any purpose, unless such
Certificate shall have been manually countersigned by the Trustee
substantially in the forms set forth in Exhibit A hereto, and
such countersignature upon any Certificate shall be conclusive
evidence, and the only evidence, that such Certificate has been
duly executed and delivered hereunder. All Certificates issued on
the Closing Date shall be dated the Closing Date; all
Certificates issued thereafter shall be dated the date of their
countersignature.
(e) During the first Interest Accrual Period, the
Certificate Interest Rate of the Class A5 Certificates shall be
6.648% per annum. For each subsequent Interest Accrual Period,
the Certificate Interest Rate of the Class A5 Certificates shall
be a per annum rate equal to the lesser of (i) 1.00% plus LIBOR
and (ii) 8.00%, subject to a minimum rate of 1.00%.
During the first Interest Accrual Period, the
Certificate Interest Rate of the Class A6 Certificates shall be
7.3008% per annum. For each subsequent Interest Accrual Period,
the Certificate Interest Rate of the Class A6 Certificates shall
be a per annum rate equal to the lesser of (i) 37.80% minus 5.4
times LIBOR, and (ii) 37.80%, subject to a minimum rate of 0.00%.
Section 5.02. Registration of Transfer and Exchange of
Certificates. (a) The Trustee shall cause to be kept at an office
or agency in the city in which the Corporate Trust Office of the
Trustee is located or in the City of New York, New York a
Certificate Register in which, subject to such reasonable
regulations as it may prescribe, the Trustee shall provide for
the registration of Certificates and of transfers and exchanges
of Certificates as herein provided. The Trustee shall initially
serve as Certificate Registrar for the purpose of registering
Certificates and transfers and exchanges of Certificates as
herein provided.
Subject to Sections 5.02(b) and 5.02(c), upon
surrender for registration of transfer of any Certificate at the
Corporate Trust Office, the Trustee shall execute, authenticate
and deliver, in the name of the designated transferee or
transferees, one or more new Certificates of the same Class in
authorized denominations of a like Percentage Interest.
At the option of a Certificateholder, Certificates may
be exchanged for other Certificates of authorized denominations
of a like Class and Percentage Interest, upon surrender of the
Certificates to be exchanged at any such office or agency.
Whenever any Certificates are so surrendered for exchange the
Trustee shall execute, countersign and deliver the Certificates
which the Certificateholder making the exchange is entitled to
receive. Every Certificate presented or surrendered for
registration of transfer or exchange shall be accompanied by a
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written instrument of transfer in form satisfactory to the
Trustee and the Certificate Registrar duly executed by the Holder
thereof or his attorney duly authorized in writing.
No service charge shall be made for any registration
of transfer or exchange of Certificates, but the Trustee may
require payment of a sum sufficient to cover any tax or
governmental charge that may be imposed in connection with any
transfer or exchange of Certificates.
All Certificates surrendered for registration of
transfer and exchange shall be canceled and subsequently
destroyed by the Trustee and a certificate of destruction shall
be delivered by the Trustee to the Company.
(b) No legal or beneficial interest in all or any portion
of the Residual Certificates may be transferred directly or
indirectly to (i) Disqualified Organization or an agent of a
Disqualified Organization (including a broker, nominee, or
middleman), (ii) an entity that holds REMIC residual securities
as nominee to facilitate the clearance and settlement of such
securities through electronic book-entry changes in accounts of
participating organizations (a "Book-Entry Nominee"), or (iii) an
individual, corporation, partnership or other person unless such
transferee (A) is not a Non-U.S. Person or (B) is a Non-U.S.
Person that holds a Residual Certificate in connection with the
conduct of a trade or business within the United States and has
furnished the transferor and the Trustee with an effective
Internal Revenue Service Form 4224 or (C) is a Non-U.S. Person
that has delivered to both the transferor and the Trustee an
opinion of a nationally recognized tax counsel to the effect that
the transfer of a Residual Certificate to it is in accordance
with the requirements of the Code and the regulations promulgated
thereunder and that such transfer of a Residual Certificate will
not be disregarded for federal income tax purposes (any such
person who is not covered by clause (A), (B) or (C) above being
referred to herein as a "Non-permitted Foreign Holder"), and any
such purported transfer shall be void and have no effect. The
Trustee shall not execute, and shall not authenticate and
deliver, a Residual Certificate in connection with any transfer
thereof unless the transferor shall have provided to the Trustee
an affidavit, substantially in the form attached as Exhibit F
hereto, signed by the transferee, to the effect that the
transferee is not such a Disqualified Organization, an agent
(including a broker, nominee, or middleman) for any entity as to
which the transferee has not received a substantially similar
affidavit, a Book-Entry Nominee or a Non-permitted Foreign
Holder, which affidavit shall contain the consent of the
transferee to any such amendments of this Agreement as may be
required to further effectuate the foregoing restrictions on
transfer of the Residual Certificates to Disqualified
Organizations, Book-Entry Nominees or Non-permitted Foreign
Holders, and an agreement by the Transferee that it will not
transfer a Residual Certificate without providing to the Trustee
an affidavit substantially in the form attached as Exhibit F
hereto and a letter substantially in the form attached as Exhibit
G hereto. Such affidavit shall also contain the statement of the
transferee that (i) it does not have the intention to impede the
assessment or collection of any federal, state or local taxes
legally required to be paid with respect to the Residual
Certificates and (ii) it understands that it may incur tax
liabilities in excess of cash flows generated by a Residual
Certificate and that it intends to pay taxes associated with
holding a Residual Certificate as they become due.
The affidavit described in the preceding paragraph, if
not executed in connection with the initial issuance of the
Residual Certificates, shall be accompanied by a written
statement in
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the form attached as Exhibit G hereto, signed by the
transferor, to the effect that as of the time of the transfer,
the transferor has (i) no actual knowledge that the transferee is
a Disqualified Organization, Book-Entry Nominee or Non-permitted
Foreign Holder, (ii) no reason to believe that the transferee has
the intention to impede the assessment or collection of any
federal, state or local taxes legally required to be paid with
respect to a Residual Certificate, and (iii) conducted a
reasonable investigation and found that the transferee had
historically paid its debts as they came due and found no
significant evidence to indicate that the transferee will not
continue to pay its debts as they become due. The Residual
Certificates shall bear a legend referring to the foregoing
restrictions contained in this paragraph and the preceding
paragraph.
Upon notice to the Company that any legal or
beneficial interest in any portion of the Residual Certificates
has been transferred, directly or indirectly, to a Disqualified
Organization or agent thereof (including a broker, nominee, or
middleman) in contravention of the foregoing restrictions, (i)
such transferee shall be deemed to hold the Residual Certificate
in constructive trust for the last transferor who was not a
Disqualified Organization or agent thereof, and such transferor
shall be restored as the owner of such Residual Certificate as
completely as if such transfer had never occurred, provided that
the Company may, but is not required to, recover any
distributions made to such transferee with respect to the
Residual Certificate and return such recovery to the transferor,
and (ii) the Company agrees to furnish to the Internal Revenue
Service and to any transferor of the Residual Certificate or such
agent (within 60 days of the request therefor by the transferor
or agent) such information necessary to the application of
section 860E(e) of the Code as may be required by the Code,
including but not limited to the present value of the total
anticipated excess inclusions with respect to the Residual
Certificate (or portion thereof) for periods after such transfer.
At the election of the Company, the cost to the Company of
computing and furnishing such information may be charged to the
transferor or such agent referred to above; however, the Company
shall in no event be excused from furnishing such information.
The restrictions on transfers of the Residual
Certificates set forth in the preceding three paragraphs shall
cease to apply to transfers (and the applicable portions of the
legend to the Residual Certificates may be deleted) after
delivery to the Trustee of an Opinion of Counsel to the effect
that the elimination of such restrictions will not cause either
of the Upper Tier REMIC or the Lower Tier REMIC established
hereunder to fail to qualify as a REMIC at any time that the
Certificates are outstanding.
No transfer of a Restricted Certificate shall be made
unless such transfer is made pursuant to an effective
registration statement under the Securities Act of 1933, as
amended (the "Act"), and any applicable state securities laws, in
each case as evidenced by an Officer's Certificate, or is exempt
from the registration requirements of the Act and any applicable
state securities laws. In the event of such registration, any
restrictive legends set forth in the form of the relevant
Restricted Certificate in Exhibit A hereto with respect to the
Act and state securities law restrictions shall be removed by the
Trustee upon request of the Holder thereof and automatically upon
exchange or registration of transfer thereof. As a condition to
any transfer that is to be made in reliance upon an exemption
from the Act and such laws of a (i) Class PO Certificate or (ii)
Restricted Junior Certificate to any person other than a QIB (as
certified by the proposed transferee in the form of assignment
attached to the related Certificate), either (x) the Trustee
shall require the transferee to execute an investment letter in
the form substantially as set
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forth in Exhibit I hereto or in such other form as may be
acceptable to the Trustee, certifying as to the facts surrounding
such transfer, or (y) in lieu of such investment letter, the
Trustee may accept a written Opinion of Counsel (in form and
substance acceptable to the Trustee) that such proposed transfer
may be made pursuant to an exemption from the Act. As an
additional condition to any transfer of a Restricted Certificate,
either (i) the transferor and the transferee shall complete the
form of assignment attached to the Certificate proposed to be
transferred, or (ii) the Trustee shall have received the
above-referenced Opinion of Counsel. The holder of any Restricted
Certificate desiring to effect the transfer thereof to a person
other than a QIB shall, and hereby agrees to, comply with any
applicable conditions set forth in the preceding two sentences
and indemnify the Trustee and the Company against any liability
that may result if the transfer thereof is not so exempt or is
not made in accordance with such federal and state laws. Such
agreement to so indemnify the Trustee and the Company shall
survive the termination of this Agreement. Notwithstanding the
foregoing, no Opinion of Counsel or investment letter shall be
required upon the original issuance of (i) the Restricted Junior
Certificates to the Initial Purchaser (as defined in the Private
Placement Memorandum) or its nominee and (ii) the Class PO
Certificates to the Company or upon any subsequent transfer of
any Class PO Certificate by the Company, provided that if any
Restricted Junior Certificates are, at the request of the Initial
Purchaser, registered in the name of its nominee, the Initial
Purchaser shall be deemed to acknowledge and agree with the
Company and the Trustee that no transfer of a beneficial interest
in such Certificates will be made without registering such
Certificates in the name of the transferee, which shall be a
Person other than such nominee. Any opinion or letter required
pursuant to this paragraph shall not be at the expense of the
Trust Fund or the Trustee.
(c) (i) No transfer of an ERISA-Restricted Certificate in
the form of a Definitive Certificate shall be made to any Person
unless the Trustee has received (A) a certificate (substantially
in the form of Exhibit E or such other form as is acceptable to
the Company and the Trustee) from such transferee to the effect
that such transferee (i) is not a Plan or a Person that is using
the assets of a Plan to acquire such ERISA-Restricted Certificate
or (ii) is an insurance company investing assets of its general
account and the exemptions provided by Section III(a) of
Department of Labor Prohibited Transaction Class Exemption 95-60,
60 Fed. Reg. 35925 (July 12, 1995) (the "Exemptions") apply to
the transferee's acquisition and holding of any ERISA-Restricted
Certificate or (B) an opinion of counsel satisfactory to the
Trustee and the Company to the effect that the purchase and
holding of such a Certificate will not constitute or result in
the assets of the Trust Fund being deemed to be "plan assets"
subject to the prohibited transactions provisions of ERISA or
Section 4975 of the Code and will not subject the Trustee or the
Company to any obligation in addition to those undertaken in the
Agreement; provided, however, that the Trustee will not require
such certificate or opinion in the event that, as a result of a
change of law or otherwise, counsel satisfactory to the Trustee
has rendered an opinion to the effect that the purchase and
holding of an ERISA-Restricted Certificate by a Plan or a Person
that is purchasing or holding such a Certificate with the assets
of a Plan will not constitute or result in a prohibited
transaction under ERISA or Section 4975 of the Code. The
preparation and delivery of the certificate and opinions referred
to above shall not be an expense of the Trust Fund, the Trustee
or the Company. Notwithstanding the foregoing, no opinion or
certificate shall be required for the initial issuance of the
ERISA-Restricted Certificates.
(ii) No transfer of a Residual Certificate shall be
made to any Person unless the Trustee has received a
certification (substantially in the form of paragraph 4 of
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Exhibit F) from such transferee to the effect that, among
other things, such transferee is not a Plan or a Person that
is using the assets of a Plan to acquire any such
Certificate. The preparation and delivery of such
certificate shall not be an expense of the Trust Fund, the
Trustee or the Company.
(d) Subject to Section 8.01(i) hereof, the Trustee may
conclusively rely upon any certificate, affidavit or opinion
delivered pursuant to Section 5.02(b) or (c). Any certificate or
affidavit required to be delivered by a transferee under this
Section 5.02 may be executed and delivered in the name of such
transferee by its attorney-in-fact duly authorized in writing in
form and substance satisfactory to the Trustee.
(e) Except as to any additional Certificate of any Class of
Book-Entry Certificates held in physical certificated form
pursuant to Section 5.02(g) or any Restricted Junior Certificate
of any Class of Book-Entry Certificates that is transferred to an
entity other than a QIB, the Book-Entry Certificates shall,
subject to Section 5.02(f), at all times remain registered in the
name of the Depository or its nominee and at all times: (i)
registration thereof may not be transferred by the Trustee except
to another Depository; (ii) the Depository shall maintain
book-entry records with respect to the Certificate Owners and
with respect to ownership and transfers of such Certificates;
(iii) ownership and transfers of registration of the Certificates
issued in book-entry form on the books of the Depository shall be
governed by applicable rules established by the Depository and
the rights of Certificate Owners with respect to Book-Entry
Certificates shall be governed by applicable law and agreements
between such Certificate Owners and the Depository, Depository
Participants, and indirect participating firms; (iv) the
Depository may collect its usual and customary fees, charges and
expenses from its Depository Participants; (v) the Trustee shall
deal with the Depository, Depository Participants and indirect
participating firms as authorized representatives of the
Certificate Owners of the Certificates issued in book-entry form
for all purposes including the making of payments due on the
Book-Entry Certificates and exercising the rights of Holders
under this Agreement, and requests and directions for and votes
of such representatives shall not be deemed to be inconsistent if
they are made with respect to different Certificate Owners; (vi)
the Trustee may rely and shall be fully protected in relying upon
information furnished by the Depository with respect to its
Depository Participants and furnished by the Depository
Participants with respect to indirect participating firms and
persons shown on the books of such indirect participating firms
as direct or indirect Certificate Owners; (vii) Certificate
Owners shall not be entitled to certificates for the Book-Entry
Certificates and (viii) the Trustee may establish a reasonable
record date in connection with solicitations of consents from or
voting by Certificateholders and give notice to the Depository of
such record date.
All transfers by Certificate Owners of Book-Entry
Certificates shall be made in accordance with the procedures
established by the Depository Participant or brokerage firm
representing such Certificate Owner. Each Depository Participant
shall only transfer Book-Entry Certificates of Certificate Owners
it represents or of brokerage firms for which it acts as agent in
accordance with the Depository's normal procedures. Except as
provided herein, the Trustee shall have no duty to monitor or
restrict the transfer of Certificates or interests therein, and
shall have no liability for any transfer, including any transfer
made through the book-entry facilities of the Depository or
between or among Depository Participants or Certificate Owners,
made in
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violation of applicable restrictions set forth herein,
except in the event of the failure of the Trustee to perform its
duties and fulfill its obligations under this Agreement.
(f) If (x)(i) the Company or the Depository advises the
Trustee in writing that the Depository is no longer willing,
qualified or able to properly discharge its responsibilities as
Depository, and (ii) the Trustee or the Company is unable to
locate a qualified successor, (y) the Company at its option
advises the Trustee in writing that it elects to terminate the
book-entry system through the Depository or (z) after the
occurrence of an Event of Default, Certificate Owners
representing not less than 51% of the aggregate Voting Rights
allocated to the Book-Entry Certificates together advise the
Trustee and the Depository through the Depository Participants in
writing that the continuation of a book-entry system through the
Depository is no longer in the best interests of the Certificate
Owners, the Trustee shall notify all Certificate Owners, through
the Depository, of the occurrence of any such event and of the
availability of Definitive Certificates to Certificate Owners
requesting the same. Upon surrender to the Trustee of such
Certificates by the Depository, accompanied by registration
instructions from the Depository for registration, the Trustee
shall issue the Definitive Certificates. Neither the Company nor
the Trustee shall be liable for any delay in delivery of such
instructions and may conclusively rely on, and shall be protected
in relying on, such instructions. Upon the issuance of Definitive
Certificates all references herein to obligations imposed upon or
to be performed by the Depository shall be deemed to be imposed
upon and performed by the Trustee, to the extent applicable with
respect to such Definitive Certificates and the Trustee shall
recognize the Holders of the Definitive Certificates as
Certificateholders hereunder.
(g) On or prior to the Closing Date, there shall be
delivered to the Depository (or to State Street Bank and Trust
Company acting as custodian for the Depository pursuant to the
Depository's procedures) one certificate for each Class of
Book-Entry Certificates registered in the name of the
Depository's nominee, Cede & Co. The face amount of each such
Certificate shall represent 100% of the initial Class Certificate
Principal Balance thereof, except for such amount that does not
constitute an acceptable denomination to the Depository. An
additional Certificate of each Class of Book-Entry Certificates
may be issued evidencing such remainder and, if so issued, will
be held in physical certificated form by the Holders thereof.
Each Certificate issued in book-entry form shall bear the
following legend:
"Unless this Certificate is presented by an authorized
representative of The Depository Trust Company, a New York
corporation ("DTC"), to Issuer or its agent for registration of
transfer, exchange, or payment, and any certificate issued is
registered in the name of Cede & Co. or in such other name as
requested by an authorized representative of DTC (and any payment
is made to Cede & Co. or to such other entity as is requested by
an authorized representative of DTC), ANY TRANSFER, PLEDGE OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has
an interest herein."
Section 5.03. Mutilated, Destroyed, Lost or Stolen
Certificates. If (a) any mutilated Certificate is surrendered to
the Certificate Registrar, or the Certificate Registrar receives
evidence to its satisfaction of the destruction, loss or theft of
any Certificate and (b) there is delivered to the Company, the
Certificate Registrar and the Trustee such security or indemnity
as may be required by them to save each of them harmless, then,
in the absence of notice to the
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Certificate Registrar or the Trustee that such Certificate
has been acquired by a bona fide purchaser, the Trustee shall
execute, countersign and deliver, in exchange for or in lieu of
any such mutilated, destroyed, lost or stolen Certificate, a new
Certificate of like tenor, Class and Percentage Interest. In
connection with the issuance of any new Certificate under this
Section 5.03, the Trustee may require the payment of a sum
sufficient to cover any tax or other governmental charge that may
be imposed in relation thereto and any other expenses (including
the fees and expenses of the Trustee and the Certificate
Registrar) connected therewith. Any duplicate Certificate issued
pursuant to this Section 5.03 shall constitute complete and
indefeasible evidence of ownership in the Trust Fund, as if
originally issued, whether or not the lost, stolen or destroyed
Certificate shall be found at any time.
Section 5.04. Persons Deemed Owners. Prior to due
presentation of a Certificate for registration of transfer, the
Company, the Trustee, the Certificate Registrar and any agent of
the Company, the Trustee or the Certificate Registrar may treat
the person in whose name any Certificate is registered as the
owner of such Certificate for the purpose of receiving
distributions pursuant to Section 4.01 and for all other purposes
whatsoever, and neither the Company, the Trustee, the Certificate
Registrar nor any agent of the Company, the Trustee or the
Certificate Registrar shall be affected by any notice to the
contrary.
Section 5.05. Access to List of Certificateholders' Names
and Addresses. The Certificate Registrar will furnish or cause to
be furnished to the Company, within 15 days after receipt by the
Certificate Registrar of request therefor from the Company in
writing, a list, in such form as the Company may reasonably
require, of the names and addresses of the Certificateholders as
of the most recent Record Date for payment of distributions to
Certificateholders. If three or more Certificateholders
(hereinafter referred to as "applicants") apply in writing to the
Trustee, and such application states that the applicants desire
to communicate with other Certificateholders with respect to
their rights under this Agreement or under the Certificates and
is accompanied by a copy of the communication which such
applicants propose to transmit, then the Trustee shall, within
five Business Days after the receipt of such application, afford
such applicants access during normal business hours to the most
recent list of Certificateholders held by the Trustee. If such
list is as of a date more than 90 days prior to the date of
receipt of such applicants' request, the Trustee shall promptly
request from the Certificate Registrar a current list as provided
above, and shall afford such applicants access to such list
promptly upon receipt. Every Certificateholder, by receiving and
holding a Certificate, agrees with the Certificate Registrar and
the Trustee that neither the Certificate Registrar nor the
Trustee shall be held accountable by reason of the disclosure of
any such information as to the names and addresses of the
Certificateholders hereunder, regardless of the source from which
such information was derived.
Section 5.06. Representation of Certain
Certificateholders. The fiduciary of any Plan which becomes a
Holder of a Certificate, by virtue of its acceptance of such
Certificate, will be deemed to have represented and warranted to
the Trustee and the Company that such Plan is an "accredited
investor" as defined in Rule 501(a)(1) of Regulation D
promulgated by the Securities and Exchange Commission under the
Securities Act of 1933.
Section 5.07. Determination of COFI. (a) If the outstanding
Certificates include any COFI Certificates, then on each COFI
Determination Date the Trustee shall determine the value
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of COFI on the basis of the most recently available Information
Bulletin referred to in the definition of "COFI". The
establishment of COFI by the Trustee and the Trustee's subsequent
calculation of the rates of interest applicable to the COFI
Certificates for each Interest Accrual Period shall (in the
absence of manifest error) be final and binding. During each
Interest Accrual Period, the Certificate Interest Rate for the
COFI Certificates for the current and immediately preceding
Interest Accrual Period shall be made available by the Trustee to
Certificate Owners and Certificateholders at the following
telephone number: (617) 664-5500.
(b) The failure by the Federal Home Loan Bank of San
Francisco to publish COFI for a period of 65 calendar days will
constitute an "Alternative Rate Event" for purposes hereof. Upon
the occurrence of an Alternative Rate Event, the Company will
calculate the Certificate Interest Rates for the COFI
Certificates for the subsequent Interest Accrual Periods by
using, in place of COFI, (i) the replacement index, if any,
published or designated by the Federal Home Loan Bank of San
Francisco or (ii) if no replacement index is so published or
designated, an alternative index to be selected by the Company
that has performed, or that the Company expects to perform, in a
manner substantially similar to COFI. At the time an alternative
index is first selected by the Company, the Company shall
determine the average number of basis points, if any, by which
the alternative index differed from COFI for such period as the
Company, in its sole discretion, reasonably determines to reflect
fairly the long-term difference between COFI and the alternative
index, and shall adjust the alternative index by such average.
The Company shall select a particular index as an alternative
only if it receives an Opinion of Counsel to the effect that the
selection of such index will not cause any REMIC established
hereunder to fail to qualify as a REMIC for federal income tax
purposes. In the absence of manifest error, the selection of any
alternative index as provided by this Section 5.07(b) shall be
final and binding for each subsequent Interest Accrual Period.
Upon the occurrence of an Alternative Rate Event, the Trustee
shall have no responsibility for the determination of any
alternative index or the calculation of the Certificate Interest
Rates for the COFI Certificates.
(c) If at any time after the occurrence of an Alternative
Rate Event the Federal Home Loan Bank of San Francisco resumes
publication of COFI, the Certificate Interest Rates for the COFI
Certificates for each Interest Accrual Period commencing
thereafter will be calculated by reference to COFI.
Section 5.08. Determination of LIBOR. (a) If the outstanding
Certificates include any LIBOR Certificates, then on each LIBOR
Determination Date the Trustee shall determine LIBOR for the
related Interest Accrual Period as such rate equal to the
Interest Settlement Rate. If such rate does not appear on the
Designated Telerate Page as of 11:00 a.m., London time, on the
applicable LIBOR Determination Date:
(i) The Trustee will request the principal London
office of each Reference Bank (as defined in Section
5.08(e)) to provide such bank's offered quotation (expressed
as a percentage per annum) to prime banks in the London
interbank market for one-month U.S. Dollar deposits as of
11:00 a.m., London time, on the applicable LIBOR
Determination Date.
(ii) If on any LIBOR Determination Date, two or more of
the Reference Banks provide such offered quotations, LIBOR
for the next Interest Accrual Period will
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be the arithmetic mean of such offered quotations (rounding
such arithmetic mean upwards, if necessary, to the nearest
whole multiple of 1/16%). If on any LIBOR Determination Date
only one or none of the Reference Banks provide such offered
quotations, LIBOR for the next Interest Accrual Period will
be the rate per annum the Trustee determines to be the
arithmetic mean (rounding such arithmetic mean upwards, if
necessary, to the nearest whole multiple of 1/16%) of the
one-month Eurodollar lending rate that three major banks in
New York City selected by the Trustee are quoting as of
approximately 11:00 a.m., New York City time, on the first
day of the applicable Interest Accrual Period.
(iii) If on any LIBOR Determination Date the Trustee is
required but unable to determine LIBOR in the manner
provided in subparagraph (ii) of this Section 5.08(a), LIBOR
for the next Interest Accrual Period will be LIBOR as
determined on the previous LIBOR Determination Date, or, in
the case of the first LIBOR Determination Date, the Initial
LIBOR Rate.
(b) The establishment of LIBOR by the Trustee and the
Trustee's subsequent calculation of the Certificate Interest
Rates applicable to the LIBOR Certificates for the relevant
Interest Accrual Period, in the absence of manifest error, will
be final and binding.
(c) Within five Business Days of the Trustee's calculation
of the Certificate Interest Rates of the LIBOR Certificates, the
Trustee shall furnish to the Company by telecopy (or by such
other means as the Trustee and the Company may agree from time to
time) such Certificate Interest Rates.
(d) The Trustee shall provide to Certificateholders who
inquire of it by telephone the Certificate Interest Rates of the
LIBOR Certificates for the current and immediately preceding
Interest Accrual Period.
(e) As used herein, "Reference Banks" shall mean no more
than four leading banks engaged in transactions in Eurodollar
deposits in the international Eurocurrency market (i) with an
established place of business in London, England, (ii) whose
quotations appear on the display designated "LIBO" on the Reuters
Monitor Money Rates Service (the "Reuters Screen LIBO Page") on
the applicable LIBOR Determination Date and (iii) which have been
designated as such by the Trustee and are able and willing to
provide such quotations to the Trustee on each LIBOR
Determination Date. The Reference Banks initially shall be:
Barclay's plc, Bank of Tokyo, National Westminster Bank and Trust
Company and Bankers Trust Company. If any of the initial
Reference Banks should be removed from the Reuters Screen LIBO
Page or in any other way fail to meet the qualifications of a
Reference Bank, or if such page is no longer published, the
Trustee, after consultation with the Company, shall use its best
efforts to designate alternate Reference Banks.
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ARTICLE VI
THE COMPANY
Section 6.01. Liability of the Company. The Company shall be
liable in accordance herewith only to the extent of the
obligations specifically imposed upon and undertaken by the
Company herein.
Section 6.02. Merger or Consolidation of, or Assumption of
the Obligations of, the Company. Any corporation into which the
Company may be merged or consolidated, or any corporation
resulting from any merger, conversion or consolidation to which
the Company shall be a party, or any corporation succeeding to
the business of the Company, or any corporation, more than 50% of
the voting stock of which is, directly or indirectly, owned by
General Electric Company, or any limited partnership, the sole
general partner of which is either the Company or a corporation,
more than 50% of the voting stock of which is owned, directly or
indirectly, by General Electric Company, which executes an
agreement of assumption to perform every obligation of the
Company hereunder, shall be the successor of the Company
hereunder, without the execution or filing of any paper or any
further act on the part of any of the parties hereto, anything
herein to the contrary notwithstanding.
Section 6.03. Assignment. The Company may assign its rights
and delegate its duties and obligations as servicer under this
Agreement; provided, that (i) the purchaser or transferee
accepting such assignment or delegation is qualified to service
mortgage loans for FNMA or FHLMC, is reasonably satisfactory to
the Trustee and executes and delivers to the Trustee an
agreement, in form and substance reasonably satisfactory to the
Trustee, which contains an assumption by such purchaser or
transferee of the due and punctual performance and observance of
each covenant and condition to be performed or observed by the
Company as servicer hereunder from and after the date of such
agreement and (ii) each Rating Agency's rating of any Classes of
Certificates in effect immediately prior to such assignment or
delegation would not be qualified, downgraded or withdrawn as a
result thereof. In the case of any such assignment or delegation,
the Company will be released from its obligations as servicer
hereunder except for liabilities and obligations as servicer
incurred prior to such assignment or delegation.
Section 6.04. Limitation on Liability of the Company and
Others. Neither the Company nor any of the directors or officers
or employees or agents of the Company shall be under any
liability to the Trust Fund or the Certificateholders for any
action taken or for refraining from the taking of any action by
the Company pursuant to this Agreement, or for errors in
judgment; provided, however, that this provision shall not
protect the Company or any such person against any liability
which would otherwise be imposed by reason of willful
misfeasance, bad faith or gross negligence in the performance of
duties of the Company or by reason of reckless disregard of
obligations and duties of the Company hereunder. The Company and
any director or officer or employee or agent of the Company may
rely in good faith on any document of any kind prima facie
properly executed and submitted by any Person respecting any
matters arising hereunder. The Company and any director or
officer or employee or agent of the Company shall be indemnified
by the Trust Fund and held harmless against any loss, liability
or expense incurred in connection with any legal action relating
to this Agreement or the Certificates, other than any loss,
liability or expense related to any specific Mortgage Loan or
Mortgage Loans (except as
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any such loss, liability or expense shall be otherwise
reimbursable pursuant to this Agreement) and any loss, liability
or expense incurred by reason of willful misfeasance, bad faith
or gross negligence in the performance of duties hereunder or by
reason of reckless disregard of obligations and duties hereunder.
The Company shall be under no obligation to appear in, prosecute
or defend any legal action which is not incidental to its duties
to service the Mortgage Loans in accordance with this Agreement
and which in its opinion may involve it in any expense or
liability; provided, however, that the Company may in its sole
discretion undertake any such action which it may deem necessary
or desirable in respect of this Agreement, and the rights and
duties of the parties hereto and the interests of the
Certificateholders hereunder. In such event, the legal expenses
and costs of such action and any liability resulting therefrom
shall be expenses, costs and liabilities of the Trust Fund and
the Company shall be entitled to be reimbursed therefor from
amounts credited to the Mortgage Loan Payment Record as provided
by Section 3.04.
Section 6.05. The Company Not to Resign. Subject to
the provisions of Sections 6.02 and 6.03, the Company shall not
resign from the obligations and duties hereby imposed on it
except upon determination that the performance of its duties
hereunder is no longer permissible under applicable law. Any such
determination permitting the resignation of the Company shall be
evidenced by an Opinion of Counsel to such effect delivered to
the Trustee. No such resignation shall become effective until the
Trustee or a successor servicer shall have assumed the
responsibilities and obligations of the Company in accordance
with Section 7.02.
ARTICLE VII
DEFAULT
Section 7.01. Events of Default. If any one of the
following events ("Events of Default") shall occur and be
continuing:
(i) Any failure by the Company to make any payment to
the Trustee of funds pursuant to Section 3.02(d) out of
which distributions to Certificateholders of any Class are
required to be made under the terms of the Certificates and
this Agreement which failure continues unremedied for a
period of three Business Days after the date upon which
written notice of such failure shall have been given to the
Company by the Trustee or to the Company and the Trustee by
Holders of Certificates of each Class affected thereby
evidencing, as to each such Class, Percentage Interests
aggregating not less than 25%; or
(ii) Failure on the part of the Company duly to observe
or perform in any material respect any other covenants or
agreements of the Company set forth in the Certificates or
in this Agreement, which covenants and agreements (A)
materially affect the rights of Certificateholders and (B)
continue unremedied for a period of 60 days after the date
on which written notice of such failure, requiring the same
to be remedied, shall have been given to the Company by the
Trustee, or to the Company and the Trustee by the Holders of
Certificates of each Class affected thereby evidencing, as
to each such Class, Percentage Interests aggregating not
less than 25%; or
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(iii) The entry of a decree or order by a court or
agency or supervisory authority having jurisdiction in the
premises for the appointment of a conservator, receiver or
liquidator in any insolvency, readjustment of debt,
marshalling of assets and liabilities or similar proceedings
of or relating to the Company, or for the winding up or
liquidation of the Company's affairs, and the continuance of
any such decree or order unstayed and in effect for a period
of 60 consecutive days; or
(iv) The consent by the Company to the appointment of a
conservator or receiver or liquidator in any insolvency,
readjustment of debt, marshalling of assets and liabilities
or similar proceedings of or relating to the Company or of
or relating to substantially all of its property; or the
Company shall admit in writing its inability to pay its
debts generally as they become due, file a petition to take
advantage of any applicable insolvency or reorganization
statute, make an assignment for the benefit of its
creditors, or voluntarily suspend payment of its
obligations;
then, and in each and every such case, so long as an Event of
Default shall not have been remedied by the Company, either the
Trustee, or the Holders of Certificates of each Class affected
thereby evidencing, as to each such Class, Percentage Interests
aggregating not less than 51%, by notice then given in writing to
the Company (and to the Trustee if given by the
Certificateholders) may terminate all of the rights and
obligations of the Company as servicer under this Agreement. On
or after the receipt by the Company of such written notice, all
authority and power of the Company under this Agreement, whether
with respect to the Certificates or the Mortgage Loans or
otherwise, shall pass to and be vested in the Trustee pursuant to
and under this Section 7.01; and, without limitation, the Trustee
is hereby authorized and empowered to execute and deliver, on
behalf of the Company, as attorney-in-fact or otherwise, any and
all documents and other instruments, and to do or accomplish all
other acts or things necessary or appropriate to effect the
purposes of such notice of termination, whether to complete the
transfer and endorsement of the Mortgage Loans and related
documents, or otherwise, including, without limitation, the
recordation of the assignments of the Mortgage Loans to it. The
Company agrees to cooperate with the Trustee in effecting the
termination of the responsibilities and rights of the Company
hereunder, including, without limitation, the transfer to the
Trustee for the administration by it of all cash amounts that
shall at the time be held by the Company and that have been or
should have been credited by it to the Mortgage Loan Payment
Record, or that have been deposited by the Company in the
Certificate Account or are thereafter received by the Company
with respect to the Mortgage Loans. In addition to any other
amounts which are then, or, notwithstanding the termination of
its activities as servicer, may become, payable to the Company
under this Agreement, the Company shall be entitled to receive
out of any delinquent payment on account of interest on a
Mortgage Loan, due during the period prior to the notice pursuant
to this Section 7.01 which terminates the obligation and rights
of the Company hereunder and received after such notice, that
portion of such payment which it would have been entitled to
retain pursuant to Section 3.04(vi) if such notice had not been
given.
Section 7.02. Trustee to Act; Appointment of Successor. (a)
On and after the time the Company receives a notice of
termination pursuant to Section 7.01, the Trustee shall be the
successor in all respects to the Company in its capacity as
servicer under this Agreement and the transactions set forth or
provided for herein and shall succeed to all the rights of and be
subject to all the responsibilities, duties and liabilities
relating thereto placed on the Company in its
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capacity as servicer by the terms and provisions hereof;
provided, however, that the responsibilities and duties of the
Company pursuant to Sections 2.02 and 2.03(a) and, if the Trustee
is prohibited by law or regulation from making Monthly Advances,
the responsibility to make Monthly Advances pursuant to Section
4.04, shall not be the responsibilities, duties or obligations of
the Trustee; and provided further, that any failure of the
Trustee to perform such duties and responsibilities that is
caused by the Company's failure to cooperate with the Trustee as
required by Section 7.01 shall not be considered a default by the
Trustee hereunder. As compensation therefor, the Trustee shall,
except as provided in Section 7.01, be entitled to such
compensation as the Company would have been entitled to hereunder
if no such notice of termination had been given. Notwithstanding
the above, the Trustee may, if it shall be unwilling so to act,
or shall, if it is legally unable so to act, appoint, or petition
a court of competent jurisdiction to appoint, any established
housing and home finance institution approved to service mortgage
loans for either FNMA or FHLMC, having a net worth of not less
than $10,000,000, as the successor to the Company hereunder in
the assumption of all or any part of the responsibilities, duties
or liabilities of the Company hereunder. Pending appointment of a
successor to the Company pursuant to this Article VII, unless the
Trustee is prohibited by law from so acting, the Trustee shall
act in such capacity as hereinabove provided. In connection with
such appointment and assumption, the Trustee may make such
arrangements for the compensation of such successor out of
payments on Mortgage Loans as it and such successor shall agree;
provided, however, that no such compensation shall be in excess
of that permitted the Company hereunder. The Trustee and such
successor shall take such action, consistent with this Agreement,
as shall be necessary to effectuate any such succession.
(b) Any successor, including the Trustee, to the
Company as servicer pursuant to this Article VII shall during the
term of its service as servicer maintain in force (i) a policy or
policies of insurance covering errors and omissions in the
performance of its obligations as servicer hereunder, and (ii) a
fidelity bond in respect of its officers, employees and agents to
the same extent as the Company is so required pursuant to Section
3.15.
Section 7.03. Notification to Certificateholders. Upon
any termination or appointment of a successor to the Company
pursuant to this Article VII, the Trustee shall give prompt
written notice thereof to Certificateholders at their respective
addresses appearing in the Certificate Register.
ARTICLE VIII
THE TRUSTEE
Section 8.01. Duties of Trustee. The Trustee, prior to
the occurrence of an Event of Default and after the curing of all
Events of Default which may have occurred, undertakes to perform
such duties and only such duties as are specifically set forth in
this Agreement. If an Event of Default has occurred (which has
not been cured), the Trustee shall exercise such of the rights
and powers vested in it by this Agreement, and use the same
degree of care and skill in their exercise, as a prudent person
would exercise or use under the circumstances in the conduct of
his or her own affairs.
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The Trustee, upon receipt of all resolutions,
certificates, statements, opinions, reports, documents, orders or
other instruments furnished to the Trustee which are specifically
required to be furnished pursuant to any provision of this
Agreement, shall examine them to determine whether they conform
to the requirements of this Agreement.
No provision of this Agreement shall be construed to
relieve the Trustee from liability for its own negligent action,
its own negligent failure to act or its own misconduct; provided,
however, that:
(i) Prior to the occurrence of an Event of Default, and
after the curing of all such Events of Default which may
have occurred, the duties and obligations of the Trustee
shall be determined solely by the express provisions of this
Agreement, the Trustee shall not be liable except for the
performance of such duties and obligations as are
specifically set forth in this Agreement, no implied
covenants or obligations shall be read into this Agreement
against the Trustee and, in the absence of bad faith on the
part of the Trustee, the Trustee may conclusively rely, as
to the truth of the statements and the correctness of the
opinions expressed therein, upon any certificates or
opinions furnished to the Trustee and conforming to the
requirements of this Agreement;
(ii) The Trustee shall not be personally liable for an
error of judgment made in good faith by a Responsible
Officer of the Trustee, unless it shall be proved that the
Trustee was negligent in performing its duties in accordance
with the terms of this Agreement;
(iii) The Trustee shall not be personally liable with
respect to any action taken, suffered or omitted to be taken
by it in good faith in accordance with the direction of the
Holders of Certificates of each Class affected thereby
evidencing, as to each such Class, Percentage Interests
aggregating not less than 25%, relating to the time, method
and place of conducting any proceeding for any remedy
available to the Trustee, or exercising any trust or power
conferred upon the Trustee, under this Agreement; and
(iv) The Trustee shall not be charged with knowledge of
(A) any failure by the Company to comply with the
obligations of the Company referred to in clauses (i) and
(ii) of Section 7.01, (B) the rating downgrade referred to
in the definition of "Trigger Event" or (C) any failure by
the Company to comply with the obligations of the Company to
record the assignments of Mortgages referred to in Section
2.01 unless a Responsible Officer of the Trustee at the
Corporate Trust Office obtains actual knowledge of such
failures, occurrence or downgrade or the Trustee receives
written notice of such failures, occurrence or downgrade
from the Company or the Holders of Certificates of each
Class affected thereby evidencing, as to each such Class,
Percentage Interests aggregating not less than 25%.
Subject to any obligation of the Trustee to make
Monthly Advances as provided herein, the Trustee shall not be
required to expend or risk its own funds or otherwise incur
financial liability in the performance of any of its duties
hereunder, or in the exercise of any of its rights or powers, if
there is reasonable ground for believing that the repayment of
such funds or adequate indemnity against such risk or liability
is not reasonably assured to it, and none of
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the provisions contained in this Agreement shall in any event
require the Trustee to perform, or be responsible for the manner
of performance of, any of the obligations of the Company under
this Agreement, except during such time, if any, as the Trustee
shall be the successor to, and be vested with the rights, duties,
powers and privileges of, the Company in accordance with the
terms of this Agreement.
Section 8.02. Certain Matters Affecting the Trustee.
Except as otherwise provided in Section 8.01:
(i) The Trustee may conclusively rely and shall be
protected in acting or refraining from acting upon any
resolution, Officer's Certificate, certificate of auditors
or any other certificate, statement, instrument, opinion,
report, notice, request, consent, order, appraisal, bond or
other paper or document believed by it to be genuine and to
have been signed or presented by the proper party or
parties;
(ii) The Trustee may consult with counsel and any
Opinion of Counsel shall be full and complete authorization
and protection in respect of any action taken or suffered or
omitted by it hereunder in good faith and in accordance with
such Opinion of Counsel;
(iii) The Trustee shall be under no obligation to
exercise any of the rights or powers vested in it by this
Agreement, or to institute, conduct or defend any litigation
hereunder or in relation hereto, at the request, order or
direction of any of the Certificateholders, pursuant to the
provisions of this Agreement, unless such Certificateholders
shall have offered to the Trustee reasonable security or
indemnity against the costs, expenses and liabilities which
may be incurred therein or thereby; nothing contained herein
shall, however, relieve the Trustee of the obligations, upon
the occurrence of an Event of Default (which has not been
cured), to exercise such of the rights and powers vested in
it by this Agreement, and to use the same degree of care and
skill in their exercise as a prudent person would exercise
or use under the circumstances in the conduct of his or her
own affairs;
(iv) The Trustee shall not be personally liable for any
action taken, suffered or omitted by it in good faith and
believed by it to be authorized or within the discretion or
rights or powers conferred upon it by this Agreement;
(v) Prior to the occurrence of an Event of Default and
after the curing of all Events of Default which may have
occurred, the Trustee shall not be bound to make any
investigation into the facts or matters stated in any
resolution, certificate, statement, instrument, opinion,
report, notice, request, consent, order, approval, bond or
other paper or documents, unless requested in writing so to
do by Holders of Certificates of each Class affected thereby
evidencing, as to each such Class, Percentage Interests
aggregating not less than 25%; provided, however, that if
the payment within a reasonable time to the Trustee of the
costs, expenses or liabilities likely to be incurred by it
in the making of such investigation is, in the opinion of
the Trustee, not reasonably assured to the Trustee by the
security afforded to it by the terms of this Agreement, the
Trustee may require reasonable indemnity against such cost,
expense or liability as a condition to such
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proceeding. The reasonable expense of every such
investigation shall be paid by the Company or, if paid by
the Trustee, shall be reimbursed by the Company upon demand.
Nothing in this clause (v) shall derogate from the
obligation of the Company to observe any applicable law
prohibiting disclosure of information regarding the
Mortgagors; and
(vi) The Trustee may execute any of the trusts or
powers hereunder or perform any duties hereunder either
directly or by or through agents or attorneys or a
custodian.
Section 8.03. Trustee Not Liable for Certificates or
Mortgage Loans. The recitals contained herein and in the
Certificates (other than the signature and countersignature of
the Trustee on the Certificates) shall be taken as the statements
of the Company, and the Trustee assumes no responsibility for the
correctness of the same. The Trustee makes no representations as
to the validity or sufficiency of this Agreement or of the
Certificates (other than the signature and countersignature of
the Trustee on the Certificates) or of any Mortgage Loan or
related document. The Trustee shall not be accountable for the
use or application by the Company of any of the Certificates or
of the proceeds of such Certificates, or for the use or
application of any funds paid to the Company in respect of the
Mortgage Loans or deposited in or withdrawn from the Certificate
Account by the Company.
Section 8.04. Trustee May Own Certificates. The Trustee in
its individual or any other capacity may become the owner or
pledgee of Certificates with the same rights as it would have if
it were not Trustee.
Section 8.05. The Company to Pay Trustee's Fees and
Expenses. The Company covenants and agrees to pay to the Trustee
from time to time, and the Trustee shall be entitled to,
reasonable compensation (which shall not be limited by any
provision of law in regard to the compensation of a trustee of an
express trust) for all services rendered by it in the execution
of the trusts hereby created and in the exercise and performance
of any of the powers and duties hereunder of the Trustee, and the
Company will pay or reimburse the Trustee upon its request for
all reasonable expenses, disbursements and advances (including
any Monthly Advances of the Trustee not previously reimbursed
thereto pursuant to Section 3.04) incurred or made by the Trustee
in accordance with any of the provisions of this Agreement
(including the reasonable compensation and the expenses and
disbursements of its counsel and of all persons not regularly in
its employ) except any such expense, disbursement or advance as
may arise from its negligence or bad faith or which is the
responsibility of Certificateholders hereunder. In addition, the
Company covenants and agrees to indemnify the Trustee from, and
hold it harmless against, any and all losses, liabilities,
damages, claims or expenses other than those resulting from the
negligence or bad faith of the Trustee. From time to time, the
Trustee may request that the Company debit the Mortgage Loan
Payment Record pursuant to Section 3.04 to reimburse the Trustee
for any Monthly Advances and Nonrecoverable Advances.
Section 8.06. Eligibility Requirements for Trustee. The
Trustee hereunder shall at all times be a corporation having its
principal office either in the State of New York or in the same
state as that in which the initial Trustee under this Agreement
has its principal office and organized and doing business under
the laws of such State or the United States of America,
authorized under such laws to exercise corporate trust powers,
having a combined capital and surplus of at least $50,000,000 and
subject to supervision or examination by federal or state
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authority. If such corporation publishes reports of condition at
least annually, pursuant to law or to the requirements of the
aforesaid supervising or examining authority, then for the
purposes of this Section 8.06, the combined capital and surplus
of such corporation shall be deemed to be its combined capital
and surplus as set forth in its most recent report of condition
so published. The Trustee shall not be an affiliate of the
Company. In case at any time the Trustee shall cease to be
eligible in accordance with the provisions of this Section 8.06,
the Trustee shall resign immediately in the manner and with the
effect specified in Section 8.07.
Section 8.07. Resignation or Removal of Trustee. The
Trustee may at any time resign and be discharged from the trusts
hereby created by giving written notice thereof to the Company.
Upon receiving such notice of resignation, the Company shall
promptly appoint a successor Trustee by written instrument, in
duplicate, one copy of which instrument shall be delivered to the
resigning Trustee and one copy to the successor Trustee. If no
successor Trustee shall have been so appointed and having
accepted appointment within 30 days after the giving of such
notice of resignation, the resigning Trustee may petition any
court of competent jurisdiction for the appointment of a
successor Trustee.
If the conditions in any of the following clauses (i),
(ii) or (iii) shall occur at any time, the Company may remove the
Trustee: (i) the Trustee shall cease to be eligible in accordance
with the provisions of Section 8.06 and shall fail to resign
after written request therefor by the Company; (ii) the Trustee
shall be legally unable to act, or shall be adjudged a bankrupt
or insolvent, or a receiver of the Trustee or of its property
shall be appointed, or any public officer shall take charge or
control of the Trustee or of its property or affairs for the
purpose of rehabilitation, conservation or liquidation; or (iii)
the replacement of the Trustee with a successor Trustee will
enable the Company to avoid (and should, based on the information
included in the notice referred to below, result in the avoidance
of) a downgrading of the ratings assigned to the Certificates by
the Rating Agencies (whether or not other actions could avoid
such downgrading) and no Event of Default, as provided by Section
7.01 hereof, shall have occurred or be continuing; provided,
however, that no action shall be taken pursuant to this clause
(iii) unless reasonable notice shall have been provided to the
Trustee, which notice shall set forth the basis for any rating
downgrade as contemplated by the Rating Agencies and shall also
indicate the manner in which such proposed action is intended to
avoid such downgrade. If it removes the Trustee under the
authority of the immediately preceding sentence, the Company
shall promptly appoint a successor trustee by written instrument,
in duplicate, one copy of which instrument shall be delivered to
the Trustee so removed and one copy to the successor trustee.
Any resignation or removal of the Trustee and
appointment of a successor Trustee pursuant to any of the
provisions of this Section 8.07 shall not become effective until
acceptance of appointment by the successor Trustee as provided in
Section 8.08.
Section 8.08. Successor Trustee. Any successor Trustee
appointed as provided in Section 8.07 shall execute, acknowledge
and deliver to the Company and to its predecessor Trustee an
instrument accepting such appointment hereunder, and thereupon
the resignation or removal of the predecessor Trustee shall
become effective and such successor Trustee, without any further
act, deed or conveyance, shall become fully vested with all the
rights, powers, duties and obligations of its predecessor
hereunder, with like effect as if originally named as Trustee.
The predecessor Trustee shall deliver to the successor Trustee
all Mortgage Files and related
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documents and statements held by it hereunder; and the Company
and the predecessor Trustee shall execute and deliver such
instruments and do such other things as may reasonably be
required for fully and certainly vesting and confirming in the
successor Trustee all such rights, powers, duties and
obligations.
No successor Trustee shall accept appointment as
provided in this Section 8.08 unless at the time of such
acceptance such successor Trustee shall be eligible under the
provisions of Section 8.06.
Upon acceptance of appointment by a successor Trustee
as provided in this Section 8.08, the Company shall mail notice
of the succession of such Trustee hereunder to all holders of
Certificates at their addresses as shown in the Certificate
Register. If the Company fails to mail such notice within 10 days
after acceptance of appointment by the successor Trustee, the
successor Trustee shall cause such notice to be mailed at the
expense of the Company.
Section 8.09. Merger or Consolidation of Trustee. Any
corporation into which the Trustee may be merged or converted or
with which it may be consolidated, or any corporation resulting
from any merger, conversion or consolidation to which the Trustee
shall be a party, or any corporation succeeding to the corporate
trust business of the Trustee, shall be the successor of the
Trustee hereunder, provided that such corporation shall be
eligible under the provisions of Section 8.06, without the
execution or filing of any paper or any further act on the part
of any of the parties hereto, anything herein to the contrary
notwithstanding.
Section 8.10. Appointment of Co-Trustee or Separate
Trustee. Notwithstanding any other provisions of this Agreement,
at any time, for the purpose of meeting any legal requirements of
any jurisdiction in which any part of the Trust Fund or property
securing any Mortgage Note may at the time be located, the
Company and the Trustee acting jointly shall have the power and
shall execute and deliver all instruments to appoint one or more
Persons approved by the Trustee to act as co-trustee or
co-trustees, jointly with the Trustee, of all or any part of the
Trust Fund, or separate trustee or separate trustees of any part
of the Trust Fund, and to vest in such Person or Persons, in such
capacity and for the benefit of the Certificateholders, such
title to the Trust Fund, or any part thereof, and, subject to the
other provisions of this Section 8.10, such powers, duties,
obligations, rights and trusts as the Company and the Trustee may
consider necessary or desirable. If the Company shall not have
joined in such appointment within 15 days after the receipt by it
of a request so to do, or in case an Event of Default shall have
occurred and be continuing, the Trustee alone shall have the
power to make such appointment. No co-trustee or separate trustee
hereunder shall be required to meet the terms of eligibility as a
successor trustee under Section 8.06 and no notice to
Certificateholders of the appointment of any co-trustee or
separate trustee shall be required under Section 8.08.
Every separate trustee and co-trustee shall, to the
extent permitted by law, be appointed and act subject to the
following provisions and conditions:
(i) All rights, powers, duties and obligations
conferred or imposed upon the Trustee shall be conferred or
imposed upon and exercised or performed by the Trustee and
such separate trustee or co-trustee jointly (it being
understood that such separate
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trustee or co-trustee is not authorized to act
separately without the Trustee joining in such act), except
to the extent that under any law of any jurisdiction in
which any particular act or acts are to be performed
(whether as Trustee hereunder or as successor to the Company
hereunder), the Trustee shall be incompetent or unqualified
to perform such act or acts, in which event such rights,
powers, duties and obligations (including the holding of
title to the Trust Fund or any portion thereof in any such
jurisdiction) shall be exercised and performed singly by
such separate trustee or co-trustee, but solely at the
direction of the Trustee;
(ii) No trustee hereunder shall be held personally
liable by reason of any act or omission of any other trustee
hereunder; and
(iii) The Company and the Trustee acting jointly may at
any time accept the resignation of or remove any separate
trustee or co-trustee.
Any notice, request or other writing given to the
Trustee shall be deemed to have been given to each of the then
separate trustees and co-trustees, as effectively as if given to
each of them. Every instrument appointing any separate trustee or
co-trustee shall refer to this Agreement and the conditions of
this Article VIII. Each separate trustee and co-trustee, upon its
acceptance of the trusts conferred, shall be vested with the
estates or property specified in its instrument of appointment,
either jointly with the Trustee or separately, as may be provided
therein, subject to all the provisions of this Agreement,
specifically including every provision of this Agreement relating
to the conduct of, affecting the liability of, or affording
protection to, the Trustee. Every such instrument shall be filed
with the Trustee and a copy thereof given to the Company.
Any separate trustee or co-trustee may, at any time,
constitute the Trustee, its agent or attorney-in-fact, with full
power and authority, to the extent not prohibited by law, to do
any lawful act under or in respect of this Agreement on its
behalf and in its name. If any separate trustee or co-trustee
shall die, become incapable of acting, resign or be removed, all
of its estates, properties, rights, remedies and trusts shall
vest in and be exercised by the Trustee, to the extent permitted
by law, without the appointment of a new or successor trustee.
Section 8.11. Compliance with REMIC Provisions; Tax
Returns. The Trustee shall at all times act in such a manner in
the performance of its duties hereunder as shall be necessary to
prevent each of the Upper Tier REMIC and the Lower Tier REMIC
from failing to qualify as a REMIC and to prevent the imposition
of a tax on the Trust Fund or such REMICs established hereunder.
The Trustee, upon request, will furnish the Company with all such
information within its possession as may be reasonably required
in connection with the preparation of all tax returns of the
Trust Fund and any Reserve Fund, and shall, upon request, execute
such returns.
ARTICLE IX
TERMINATION
Section 9.01. Termination upon Repurchase by the Company or
Liquidation of All Mortgage Loans. Subject to Section 9.02, the
respective obligations and responsibilities of the
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Company and the Trustee created hereby (other than the obligation
of the Trustee to make certain payments to Certificateholders
after the final Distribution Date and the obligation of the
Trustee to send certain notices as hereinafter set forth) shall
terminate upon the last action required to be taken by the
Trustee on the final Distribution Date pursuant to this Article
IX following the earlier of (a) the repurchase by the Company of
all Mortgage Loans and all REO Mortgage Loans remaining in the
Trust Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than any REO
Mortgage Loans described in the following clause) plus accrued
and unpaid interest thereon at the applicable Remittance Rate
(less any amounts constituting previously unreimbursed Monthly
Advances) to the first day of the month in which such purchase
price is to be distributed to Certificateholders and (y) the
appraised value of any REO Mortgage Loan (less the good faith
estimate of the Company of Liquidation Expenses to be incurred in
connection with its disposal thereof), such appraisal to be
conducted by an appraiser mutually agreed upon by the Company and
the Trustee, and (b) the later of the final payment or other
liquidation (or any Monthly Advance with respect thereto) of the
last Mortgage Loan remaining in the Trust Fund or the disposition
of all property acquired upon foreclosure or by deed in lieu of
foreclosure of any Mortgage Loan; provided, however, that in no
event shall the Trust Fund created hereby continue beyond the
expiration of 21 years from the death of the last survivor of the
descendants of Joseph P. Kennedy, the late ambassador of the
United States of America to the Court of St. James's, living on
the date of this Agreement. The right of the Company to
repurchase all Mortgage Loans pursuant to clause (a) above shall
be conditioned upon the aggregate of the Scheduled Principal
Balance of the Outstanding Mortgage Loans, at the time of any
such repurchase, aggregating less than 10 percent of the
aggregate of the Scheduled Principal Balance of the Mortgage
Loans as of the Cut-off Date.
Notice of any termination, specifying the Distribution
Date upon which the Certificateholders may surrender their
Certificates to the Trustee for payment of the final distribution
and cancellation, shall be given promptly by the Trustee by
letter to Certificateholders mailed not earlier than the 15th day
and not later than the 25th day of the month next preceding the
month of such final distribution specifying (A) the Distribution
Date upon which final payment of the Certificates will be made
upon presentation and surrender of the Certificates at the office
of the Trustee therein designated, (B) the amount of any such
final payment and (C) that the Record Date otherwise applicable
to such Distribution Date is not applicable, payments being made
only upon presentation and surrender of the Certificates at the
office of the Trustee therein specified. The Trustee shall give
such notice to the Certificate Registrar at the time such notice
is given to Certificateholders. In the event such notice is given
in connection with the exercise by the Company of its right of
repurchase, the Company shall deposit in the Certificate Account
not later than 11:00 a.m. on the Business Day prior to the final
Distribution Date in next-day funds an amount equal to the price
described above. Upon presentation and surrender of the
Certificates, the Trustee shall cause to be distributed to
Certificateholders an amount equal to the price calculated as
above provided, any such repurchase being in lieu of the
distribution otherwise required to be made on the Distribution
Date upon which the repurchase is effected. Upon certification to
the Trustee by a Servicing Officer following such final deposit,
the Trustee shall promptly release to the Company the Mortgage
Files for the repurchased Mortgage Loans.
On the final Distribution Date, the Trustee shall
distribute amounts on deposit in the Certificate Account in
accordance with the applicable priorities provided by Section
4.01.
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Distributions on each Certificate shall be made on the
final Distribution Date in the manner specified in Section 4.02
but only upon presentation and surrender of the Certificates.
In the event that all of the Certificateholders shall
not surrender their Certificates for cancellation within six
months after the date specified in the above-mentioned written
notice, the Trustee shall give a second written notice to the
remaining Certificateholders to surrender their Certificates for
cancellation and receive the final distribution with respect
thereto. If within one year after the second notice all the
Certificates shall not have been surrendered for cancellation,
the Trustee may take appropriate steps, or may appoint an agent
to take appropriate steps, to contact the remaining
Certificateholders concerning surrender of their Certificates,
and the cost thereof shall be paid out of the funds and other
assets which remain subject hereto.
Section 9.02. Additional Termination Requirements. (a) In
the event the Company exercises its purchase option as provided
in Section 9.01, the Trust Fund and each of the Upper Tier REMIC
and the Lower Tier REMIC established hereunder shall be
terminated in accordance with the following additional
requirements, unless the Trustee has been supplied with an
Opinion of Counsel to the effect that the failure to comply with
the requirements of this Section 9.02 will not (i) result in the
imposition of taxes on "prohibited transactions" of either of the
Upper Tier REMIC or the Lower Tier REMIC as defined in section
860F of the Code, or (ii) cause either of the Upper Tier REMIC or
the Lower Tier REMIC to fail to qualify as a REMIC at any time
that any Certificates are outstanding:
(i) Within 90 days prior to the final Distribution Date
set forth in the notice given by the Trustee under Section
9.01, the Company shall prepare and the Trustee shall
execute and adopt a plan of complete liquidation for each of
the Upper Tier REMIC and the Lower Tier REMIC within the
meaning of section 860F(a)(4)(A)(i) of the Code, which shall
be evidenced by such notice; and
(ii) Within 90 days after the time of adoption of such
a plan of complete liquidation, the Trustee shall sell all
of the assets of the Trust Fund to the Company for cash in
accordance with Section 9.01.
(b) By their acceptance of the Residual Certificates, the
Holders thereof hereby authorize the Trustee to adopt such a plan
of complete liquidation which authorization shall be binding on
all successor Holders of the Residual Certificates.
(c) On the final federal income tax return for each of the
Upper Tier REMIC and the Lower Tier REMIC established hereunder,
the Trustee will attach a statement specifying the date of the
adoption of the plan of liquidation.
ARTICLE X
MISCELLANEOUS PROVISIONS
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Section 10.01. Amendment. This Agreement may be amended
from time to time by the Company and the Trustee, without the
consent of any of the Certificateholders, to cure any ambiguity,
to correct or supplement any provisions herein or therein which
may be defective or inconsistent with any other provisions
herein, or to surrender any right or power herein conferred upon
the Company, or to add any other provisions with respect to
matters or questions arising under this Agreement, which shall
not be materially inconsistent with the provisions of this
Agreement; provided, however, that such action shall not, as
evidenced by an Opinion of Counsel, adversely affect in any
material respect the interests of any Certificateholder.
Notwithstanding the foregoing, without the consent of the
Certificateholders, the Trustee and the Company may at any time
and from time to time amend this Agreement to modify, eliminate
or add to any of its provisions to such extent as shall be
necessary or appropriate to maintain the qualification of each of
the Upper Tier REMIC and the Lower Tier REMIC as a REMIC under
the Code or to avoid or minimize the risk of the imposition of
any tax on the Trust Fund pursuant to the Code that would be a
claim against the Trust Fund at any time prior to the final
redemption of the Certificates, provided that the Trustee has
obtained an opinion of independent counsel (which opinion also
shall be addressed to the Company) to the effect that such action
is necessary or appropriate to maintain such qualification or to
avoid or minimize the risk of the imposition of such a tax.
This Agreement may also be amended from time to time
by the Company and the Trustee with the consent of Holders of
Certificates evidencing (i) not less than 66% of the Voting
Rights of all the Certificates or (ii) Percentage Interests
aggregating not less than 66% of each Class affected by such
amendment, for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of
this Agreement, or of modifying in any manner the rights of the
Holders of Certificates; provided, however, that no such
amendment shall (a) reduce in any manner the amount of, or delay
the timing of, collections of payments on the Mortgage Loans or
distributions which are required to be made on any Certificate
without the consent of the Holder of such Certificate, (b)
adversely affect in any material respects the interests of the
Holders of any Class of Certificates in any manner other than as
described in (a), without the consent of the Holders of
Certificates evidencing Percentage Interests aggregating not less
than 66% of such Class, or (c) reduce the aforesaid percentages
of Certificates of any Class required to consent to any such
amendment, without the consent of the Holders of all Certificates
of such Class then outstanding. For purposes of this paragraph,
references to "Holder" or "Holders" shall be deemed to include,
in the case of any Class of Book-Entry Certificates, the related
Certificate Owners.
Notwithstanding any contrary provision of this
Agreement, the Trustee shall not consent to any amendment to this
Agreement unless it shall have first received an Opinion of
Counsel to the effect that such amendment will not subject the
Trust Fund to tax or cause either of the Upper Tier REMIC or the
Lower Tier REMIC to fail to qualify as a REMIC at any time that
any Certificates are outstanding.
Promptly after the execution of any such amendment or
consent the Trustee shall furnish written notification of the
substance of such amendment to each Certificateholder.
It shall not be necessary for the consent of
Certificateholders under this Section 10.01 to approve the
particular form of any proposed amendment, but it shall be
sufficient if such
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consent shall approve the substance thereof. The manner of
obtaining such consents and of evidencing the authorization of
the execution thereof by Certificateholders shall be subject to
such reasonable requirements as the Trustee may prescribe.
Section 10.02. Recordation of Agreement. This Agreement is
subject to recordation in all appropriate public offices for real
property records in all the counties or other comparable
jurisdictions in which any or all of the properties subject to
the Mortgages are situated, and in any other appropriate public
recording office or elsewhere, such recordation to be effected by
the Company and at its expense on direction by the Trustee, but
only upon direction of the Trustee accompanied by an Opinion of
Counsel to the effect that such recordation materially and
beneficially affects the interests of Certificateholders.
For the purpose of facilitating the recordation of
this Agreement as herein provided and for other purposes, this
Agreement may be executed simultaneously in any number of
counterparts, each of which counterparts shall be deemed to be an
original, and such counterparts shall constitute but one and the
same instrument.
Section 10.03. Limitation on Rights of Certificateholders.
The death or incapacity of any Certificateholder shall not
operate to terminate this Agreement or the Trust Fund, nor
entitle such Certificateholder's legal representatives or heirs
to claim an accounting or to take any action or commence any
proceeding in any court for a partition or winding up of the
Trust Fund, nor otherwise affect the rights, obligations and
liabilities of the parties hereto or any of them.
No Certificateholder shall have any right to vote
(except as provided in Section 10.01) or in any manner otherwise
control the operation and management of the Trust Fund, or the
obligations of the parties hereto, nor shall anything herein set
forth, or contained in the terms of the Certificates, be
construed so as to constitute the Certificateholders from time to
time as partners or members of an association; nor shall any
Certificateholder be under any liability to any third person by
reason of any action taken by the parties to this Agreement
pursuant to any provision hereof.
No Certificateholder shall have any right by virtue or
by availing itself of any provisions of this Agreement to
institute any suit, action or proceeding in equity or at law upon
or under or with respect to this Agreement, unless such Holder
previously shall have given to the Trustee a written notice of
default and of the continuance thereof, as hereinbefore provided,
and unless also the Holders of Certificates of each Class
affected thereby evidencing, as to each such Class, Percentage
Interests aggregating not less than 25% shall have made written
request upon the Trustee to institute such action, suit or
proceeding in its own name as Trustee hereunder and shall have
offered to the Trustee such reasonable indemnity as it may
require against the costs, expenses and liabilities to be
incurred therein or thereby, and the Trustee, for 60 days after
its receipt of such notice, request and offer of indemnity, shall
have neglected or refused to institute any such action, suit or
proceeding; it being understood and intended, and being expressly
covenanted by each Certificateholder with every other
Certificateholder and the Trustee, that no one or more Holders of
Certificates shall have any right in any manner whatever by
virtue or by availing itself or themselves of any provisions of
this Agreement to affect, disturb or prejudice the rights of the
Holders of any other of the Certificates, or to obtain or seek to
obtain priority over or preference to any other such Holder, or
to enforce any right under this Agreement, except
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in the manner herein provided and for the equal, ratable and
common benefit of all Certificateholders. For the protection and
enforcement of the provisions of this Section 10.03, each and
every Certificateholder and the Trustee shall be entitled to such
relief as can be given either at law or in equity.
Section 10.04. Governing Law. THIS AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK
AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER
SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.
Section 10.05. Notices. All demands, notices and
communications hereunder shall be in writing and shall be deemed
to have been duly given if personally delivered at or mailed by
certified mail, return receipt requested, (a) in the case of the
Company, to GE Capital Mortgage Services, Inc., 3 Executive
Campus, Cherry Hill, New Jersey 08002, Attention: General
Counsel, (b) in the case of the Trustee, to State Street Bank and
Trust Company, Corporate Trust Department, 225 Franklin Street,
Boston, Massachusetts 02110, (c) in the case of Fitch, to Fitch
IBCA, Inc., One State Street Plaza, New York, New York 10004,
Attention: Structured Finance Surveillance, and (d) in the case
of S&P, Standard and Poor's Ratings Services, 26 Broadway, 10th
Floor, New York, New York 10004, Attention: Residential Mortgage
Surveillance, or, as to each such Person, at such other address
as shall be designated by such Person in a written notice to each
other named Person. Any notice required or permitted to be mailed
to a Certificateholder shall be given by first class mail,
postage prepaid, at the address of such Holder as shown in the
Certificate Register. Any notice so mailed within the time
prescribed in this Agreement shall be conclusively presumed to
have been duly given, whether or not the Certificateholder
receives such notice.
Section 10.06. Notices to the Rating Agencies. The Company
shall deliver written notice of the following events to each
Rating Agency promptly following the occurrence thereof: material
amendment to this Agreement; any Event of Default; any Trigger
Event; change in or termination of the Trustee; removal of the
Company or any successor servicer as servicer; repurchase or
replacement of any Defective Mortgage Loan pursuant to Section
2.03; and final payment to Certificateholders. In addition, the
Company shall deliver copies of the following documents to each
Rating Agency at the time such documents are required to be
delivered pursuant to this Agreement: monthly statements to
Certificateholders pursuant to Section 4.05, annual report of
independent accountants pursuant to Section 3.13 and annual
servicer compliance report pursuant to Section 3.12.
Notwithstanding the foregoing, the failure to deliver such
notices or copies shall not constitute an Event of Default under
this Agreement.
Section 10.07. Severability of Provisions. If any one
or more of the covenants, agreements, provisions or terms of this
Agreement shall be for any reason whatsoever held invalid, then
to the extent permitted by law such covenants, agreements,
provisions or terms shall be deemed severable from the remaining
covenants, agreements, provisions or terms of this Agreement and
shall in no way affect the validity or enforceability of the
other provisions of this Agreement or of the Certificates or the
rights of the Holders thereof.
Section 10.08. Certificates Nonassessable and Fully Paid. It
is the intention of the Trustee that Certificateholders shall not
be personally liable for obligations of the Trust Fund,
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that the beneficial ownership interests represented by the
Certificates shall be nonassessable for any losses or expenses of
the Trust Fund or for any reason whatsoever, and that
Certificates upon execution, countersignature and delivery
thereof by the Trustee are and shall be deemed fully paid.
* * *
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IN WITNESS WHEREOF, the Company and the Trustee have
caused this Agreement to be duly executed by their respective
officers and their respective seals, duly attested, to be
hereunto affixed, all as of the day and year first above written.
GE CAPITAL MORTGAGE SERVICES, INC.
By:____________________________________
Name:
Title:
[SEAL]
Attest:
By:____________________________________
Name:
Title:
STATE STREET BANK AND
TRUST COMPANY,
as Trustee
By:______________________________________
Name:
Title:
[SEAL]
Attest:
By:____________________________________
Name:
Title:
<PAGE>
State of New Jersey )
) ss.:
County of Camden )
On the day of September, 1998 before me, a notary
public in and for the State of New Jersey, personally appeared
_______________________, known to me who, being by me duly sworn,
did depose and say that he/she resides at ______________________
________________________________________________________________
_________________________________________________________; that
he/she is a(n) _________________________ of GE Capital Mortgage
Services, Inc., a corporation formed under the laws of the State
of New Jersey, one of the parties that executed the foregoing
instrument; that he/she knows the seal of said corporation; that
the seal affixed to said instrument is such corporate seal; that
it was so affixed by order of the Board of Directors of said
corporation; and that he/she signed his/her name thereto by like
order.
________________________________
Notary Public
[Notarial Seal]
3
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The Commonwealth of Massachusetts )
) ss.:
County of Suffolk )
On the day of September, 1998 before me, a notary
public in and for the Commonwealth of Massachusetts, personally
appeared ____________________, known to me who, being by me duly
sworn, did depose and say that he/she resides at _______________
_____________________________________________________________;
that he/she is a(n) __________________________________ of State
Street Bank and Trust Company, one of the parties that executed
the foregoing instrument; that he/she knows the seal of said
Bank; that the seal affixed to said instrument is such corporate
seal; that it was so affixed by order of the Board of Directors
of said Bank; and that he/she signed his/her name thereto by
order of the Board of Directors of said Bank.
_______________________________
Notary Public
[Notarial Seal]
4
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EXHIBIT A
FORMS OF CERTIFICATES
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-14
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A1 Certificate
Principal Balance:
Class A1 $65,519,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.25% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RQW8
October 26, 1998
3
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A1 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-14, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class RL, Class PO, Class M, Class B1, Class B2, Class B3, Class
B4 and Class B5, herein called the "Certificates").
The Certificates are limited in right of payment to
certain payments on and collections in respect of the Mortgage
Loans, all as more specifically set forth in the
4
<PAGE>
Agreement. The Certificateholder, by its acceptance of this
Certificate, agrees that it will look solely to the funds on
deposit in the Certificate Account for payment hereunder and that
the Trustee in its individual capacity is not personally liable
to the Certificateholders for any amount payable under this
Certificate or the Agreement or, except as expressly provided in
the Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain
exceptions therein provided, certain losses on the Mortgage Loans
resulting from defaults by Mortgagors will be borne by the
Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the
Holders of the other Classes of the Certificates.
This Certificate does not purport to summarize the
Agreement and reference is made to the Agreement for the
interests, rights and limitations of rights, benefits,
obligations and duties evidenced hereby, and the rights, duties
and immunities of the Trustee.
The Agreement permits, with certain exceptions therein
provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the
Certificateholders under the Agreement at any time by the Company
and the Trustee with the consent of the Holders of Certificates
evidencing not less than 66% of all the Voting Rights as defined
in the Agreement. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and
upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange
herefor or in lieu hereof whether or not notation of such consent
is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the
consent of the Holders of any of the Certificates.
No transfer of any Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate which is in the form of a
Definitive Certificate shall be made to any Person unless the
Trustee has received (i) a certificate from such transferee to
the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Internal Revenue Code of 1986, as amended ("Section 4975") (a
"Plan") or a Person that is using the assets of a Plan to acquire
such Certificate or (y) is an insurance company investing assets
of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Exemption
95-60, 60 Fed. Reg. 35925 (July 12, 1995) (the "Exemption")
applies to such transferee's acquisition and holding of such
Certificate, or (ii) an opinion of counsel satisfactory to the
Trustee, which opinion shall not be an expense of the Trustee or
the Company, to the effect that the purchase and holding of such
Certificate will not constitute or result in the assets of the
Trust Fund being deemed to be "plan assets" and subject to the
prohibited transaction provisions of ERISA or Section 4975 and
will not subject the Trustee or the Company to any obligation in
addition to those undertaken in the Agreement; provided, however,
that the Trustee will not require such certificate or opinion in
the event that, as a result of a change of law or otherwise,
counsel satisfactory to the Trustee has rendered an opinion to
the effect that
5
<PAGE>
the purchase and holding of a Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate by a Plan or a Person that
is purchasing or holding such Certificate with the assets of a
Plan will not constitute or result in a prohibited transaction
under ERISA or Section 4975.
No transfer of any Class R or Class RL Certificate
shall be made to any Person unless the Trustee has received a
certificate from such transferee to the effect that, among other
things, such transferee (x) is not an employee benefit plan
subject to ERISA or a Plan or a Person that is using the assets
of a Plan to acquire any such Class R or Class RL Certificate or
(y) is an insurance company investing assets of its general
account and the Exemption applies to such transferee's
acquisition and holding of any such Class R or Class RL
Certificate.
As provided in the Agreement, and subject to certain
limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register of the Trustee upon
surrender of this Certificate for registration of transfer at the
office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the
City of New York, accompanied by a written instrument of transfer
in form satisfactory to the Company, the Trustee, and the
Certificate Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and thereupon one
or more new Certificates of the same Class of authorized
denominations evidencing the same aggregate Percentage Interest
will be issued to the designated transferee or transferees.
The Certificates are issuable only as registered
Certificates without coupons in denominations specified in the
Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Certificates are exchangeable for
new Certificates of the same Class of authorized denominations
evidencing the same aggregate Percentage Interest as requested by
the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may require
payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any
agent of the Trustee or the Certificate Registrar may treat the
Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate
Registrar nor any such agent shall be affected by any notice to
the contrary.
The obligations and responsibilities created by the
Agreement, and the Trust Fund created thereby shall terminate
upon payment to the Certificateholders, or provision therefor, in
accordance with the Agreement following the earlier of (a) the
repurchase by the Company of all Mortgage Loans and all property
acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than a Mortgage
Loan described in clause (y)) plus accrued and unpaid interest
thereon at the rate provided for in the Agreement (less any
amounts representing previously unreimbursed Monthly Advances)
and (y) the appraised value of any
6
<PAGE>
property acquired in respect of a Mortgage Loan determined as
provided in the Agreement, and (b) the later of the final payment
or other liquidation (or any Monthly Advance with respect
thereto) of the last Mortgage Loan remaining in the Trust Fund
and the disposition of all property acquired upon foreclosure or
by deed in lieu of foreclosure of any Mortgage Loan. The right of
the Company to repurchase all the Mortgage Loans and property in
respect of Mortgage Loans is subject to the Pool Scheduled
Principal Balance at the time of repurchase being less than 10
percent of the Pool Scheduled Principal Balance as of the Cut-off
Date. The Company's exercise of such right will result in early
retirement of the Certificates.
Unless this Certificate has been countersigned by the
Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any
purpose.
7
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:__________________________
Name:
Title:
Countersigned:
By_______________________
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:___________________
8
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s), assign(s) and
transfer(s) unto
Please insert social security
or other identifying number of assignee
- -----------------------------------------------------------------
- -----------------------------------------------------------------
(Please print or typewrite name and address
including postal zip code of assignee)
- -----------------------------------------------------------------
this Certificate evidencing a Percentage Interest in certain
distributions with respect to the Trust Fund and hereby
authorizes the transfer of registration of such interest to
assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to
issue a new Certificate of like Class and Percentage Interest, to
the above named assignee and deliver such Certificate to the
following address:
- -----------------------------------------------------------------
- -----------------------------------------------------------------
- -----------------------------------------------------------------
Dated:
-------------------
- -------------------------------------
Signature by or on behalf of assignor
- -------------------------
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company
or broker of the signatory who is a member of a signature
guarantee medallion program.
9
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
10
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-14
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A2 Certificate
Principal Balance:
Class A2 $78,008,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.35% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RQX6
October 26, 1998
11
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A2 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-14, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class RL, Class PO, Class M, Class B1, Class B2, Class B3, Class
B4 and Class B5, herein called the "Certificates").
12
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
13
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-14
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A3 Certificate
Principal Balance:
Class A3 $2,572,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.35% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RQY4
October 26, 1998
14
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A3 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-14, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class RL, Class PO, Class M, Class B1, Class B2, Class B3, Class
B4 and Class B5, herein called the "Certificates").
15
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
16
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-14
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A4 Certificate
Principal Balance:
Class A4 $37,703,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.50% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RQZ1
October 26, 1998
17
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A4 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-14, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class RL, Class PO, Class M, Class B1, Class B2, Class B3, Class
B4 and Class B5, herein called the "Certificates").
18
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
19
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-14
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A5 Certificate
Principal Balance:
Class A5 $34,035,930
Certificate Interest Initial Certificate Principal
Rate per annum: variable Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RRA5
October 26, 1998
20
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A5 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-14, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class RL, Class PO, Class M, Class B1, Class B2, Class B3, Class
B4 and Class B5, herein called the "Certificates").
21
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
22
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-14
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A6 Certificate
Principal Balance:
Class A6 $6,302,950
Certificate Interest Initial Certificate Principal
Rate per annum: variable Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RRB3
October 26, 1998
23
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A6 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-14, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class RL, Class PO, Class M, Class B1, Class B2, Class B3, Class
B4 and Class B5, herein called the "Certificates").
24
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
25
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-14
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A7 Certificate
Principal Balance:
Class A7 $75,000,000
Certificate Interest Initial Certificate Principal
Rate per annum: variable Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RRC1
October 26, 1998
26
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A7 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-14, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class RL, Class PO, Class M, Class B1, Class B2, Class B3, Class
B4 and Class B5, herein called the "Certificates").
27
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
28
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-14
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A8 Certificate
Principal Balance:
Class A8 $1,719,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RRD9
October 26, 1998
29
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A8 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-14, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class RL, Class PO, Class M, Class B1, Class B2, Class B3, Class
B4 and Class B5, herein called the "Certificates").
30
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
31
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-14
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A9 Certificate
Principal Balance:
Class A9 $7,735,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RRE7
October 26, 1998
32
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A9 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-14, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class RL, Class PO, Class M, Class B1, Class B2, Class B3, Class
B4 and Class B5, herein called the "Certificates").
33
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
34
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-14
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A10 Certificate
Principal Balance:
Class A10 $70,809,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RRF4
October 26, 1998
35
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A10 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-14, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class RL, Class PO, Class M, Class B1, Class B2, Class B3, Class
B4 and Class B5, herein called the "Certificates").
36
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
37
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-14
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A11 Certificate
Principal Balance:
Class A11 $24,605,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.20% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RRG2
October 26, 1998
38
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A11 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-14, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class RL, Class PO, Class M, Class B1, Class B2, Class B3, Class
B4 and Class B5, herein called the "Certificates").
39
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
40
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-14
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class A12 Certificate
Principal Balance:
Class A12 $100,000,000
Certificate Interest Initial Certificate Principal
Rate per annum: 6.50% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RRH0
October 26, 1998
41
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class A12 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-14, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class RL, Class PO, Class M, Class B1, Class B2, Class B3, Class
B4 and Class B5, herein called the "Certificates").
42
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS THE
"RESIDUAL INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN
SECTIONS 860G(a)(2) AND 860D OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED (THE "CODE"). A TRANSFEREE OF THIS CERTIFICATE,
BY ACCEPTANCE HEREOF, IS DEEMED TO HAVE ACCEPTED THIS CERTIFICATE
SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFERABILITY AS SET FORTH
IN THE AGREEMENT, AND SHALL BE REQUIRED TO FURNISH AN AFFIDAVIT
TO THE TRANSFEROR AND THE TRUSTEE TO THE EFFECT THAT IT IS NOT A
DISQUALIFIED ORGANIZATION, AS SUCH TERM IS DEFINED IN CODE
SECTION 860E(e)(5), AN AGENT (INCLUDING A BROKER, NOMINEE OR
OTHER MIDDLEMAN) FOR SUCH DISQUALIFIED ORGANIZATION, OR AN ENTITY
THAT HOLDS REMIC RESIDUAL SECURITIES AS NOMINEE TO FACILITATE THE
CLEARANCE AND SETTLEMENT OF SUCH SECURITIES THROUGH BOOK-ENTRY
CHANGES IN ACCOUNTS OF PARTICIPATING ORGANIZATIONS (A "BOOK-ENTRY
NOMINEE") AND TO HAVE AGREED TO SUCH AMENDMENTS TO THE AGREEMENT
AS MAY BE REQUIRED TO FURTHER EFFECTUATE THE RESTRICTIONS ON
TRANSFERS TO DISQUALIFIED ORGANIZATIONS, AGENTS THEREOF OR
BOOK-ENTRY NOMINEES.
THE HOLDER OF THIS CLASS R CERTIFICATE, BY ACCEPTANCE HEREOF, IS
DEEMED TO HAVE IRREVOCABLY APPOINTED THE COMPANY (AS DEFINED
HEREIN) AS ITS AGENT AND ATTORNEY-IN-FACT TO ACT AS "TAX MATTERS
PERSON" OF THE UPPER-TIER REMIC TO PERFORM THE FUNCTIONS OF A
"TAX MATTERS PARTNER" FOR PURPOSES OF SUBCHAPTER C OF CHAPTER 63
OF SUBTITLE F OF THE CODE, WITH RESPECT TO THE TRUST FUND.
43
<PAGE>
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
DISQUALIFIED ORGANIZATION, BOOK-ENTRY NOMINEE OR NON-PERMITTED
FOREIGN HOLDER, AS DEFINED IN THE AGREEMENT OR TO ANY EMPLOYEE
BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY
ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO SECTION
4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED ("SECTION
4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS OF A PLAN
TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED HEREIN. THE
TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN OTHER
RESTRICTIONS AS SET FORTH HEREIN.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-14
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class R Certificate
Principal Balance:
Class R $60.00
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP:36157RRJ6
October 26, 1998
44
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class R Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-14, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class RL, Class PO, Class M, Class B1, Class B2, Class B3, Class
B4 and Class B5, herein called the "Certificates").
The Certificates are limited in right of payment to
certain payments on and collections in respect of the Mortgage
Loans, all as more specifically set forth in the
45
<PAGE>
Agreement. The Certificateholder, by its acceptance of this
Certificate, agrees that it will look solely to the funds on
deposit in the Certificate Account for payment hereunder and that
the Trustee in its individual capacity is not personally liable
to the Certificateholders for any amount payable under this
Certificate or the Agreement or, except as expressly provided in
the Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain
exceptions therein provided, certain losses on the Mortgage Loans
resulting from defaults by Mortgagors will be borne by the
Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the
Holders of the other Classes of the Certificates.
This Certificate does not purport to summarize the
Agreement and reference is made to the Agreement for the
interests, rights and limitations of rights, benefits,
obligations and duties evidenced hereby, and the rights, duties
and immunities of the Trustee.
The Agreement permits, with certain exceptions therein
provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the
Certificateholders under the Agreement at any time by the Company
and the Trustee with the consent of the Holders of Certificates
evidencing not less than 66% of all the Voting Rights as defined
in the Agreement. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and
upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange
herefor or in lieu hereof whether or not notation of such consent
is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the
consent of the Holders of any of the Certificates.
No transfer of any Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate which is in the form of a
Definitive Certificate shall be made to any Person unless the
Trustee has received (i) a certificate from such transferee to
the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Internal Revenue Code of 1986, as amended ("Section 4975") (a
"Plan") or a Person that is using the assets of a Plan to acquire
such Certificate or (y) is an insurance company investing assets
of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Exemption
95-60, 60 Fed. Reg. 35925 (July 12, 1995) (the "Exemption")
applies to such transferee's acquisition and holding of such
Certificate, or (ii) an opinion of counsel satisfactory to the
Trustee, which opinion shall not be an expense of the Trustee or
the Company, to the effect that the purchase and holding of such
Certificate will not constitute or result in the assets of the
Trust Fund being deemed to be "plan assets" and subject to the
prohibited transaction provisions of ERISA or Section 4975 and
will not subject the Trustee or the Company to any obligation in
addition to those undertaken in the Agreement; provided, however,
that the Trustee will not require such certificate or opinion in
the event that, as a result of a change of law or otherwise,
counsel satisfactory to the Trustee has rendered an opinion to
the effect that
46
<PAGE>
the purchase and holding of a Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate by a Plan or a Person that
is purchasing or holding such Certificate with the assets of a
Plan will not constitute or result in a prohibited transaction
under ERISA or Section 4975.
No transfer of any Class R or Class RL Certificate
shall be made to any Person unless the Trustee has received a
certificate from such transferee to the effect that, among other
things, such transferee (x) is not an employee benefit plan
subject to ERISA or a Plan or a Person that is using the assets
of a Plan to acquire any such Class R or Class RL Certificate or
(y) is an insurance company investing assets of its general
account and the Exemption applies to such transferee's
acquisition and holding of any such Class R or Class RL
Certificate.
As provided in the Agreement, and subject to certain
limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register of the Trustee upon
surrender of this Certificate for registration of transfer at the
office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the
City of New York, accompanied by a written instrument of transfer
in form satisfactory to the Company, the Trustee, and the
Certificate Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and thereupon one
or more new Certificates of the same Class of authorized
denominations evidencing the same aggregate Percentage Interest
will be issued to the designated transferee or transferees.
The Certificates are issuable only as registered
Certificates without coupons in denominations specified in the
Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Certificates are exchangeable for
new Certificates of the same Class of authorized denominations
evidencing the same aggregate Percentage Interest as requested by
the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may require
payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any
agent of the Trustee or the Certificate Registrar may treat the
Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate
Registrar nor any such agent shall be affected by any notice to
the contrary.
The obligations and responsibilities created by the
Agreement, and the Trust Fund created thereby shall terminate
upon payment to the Certificateholders, or provision therefor, in
accordance with the Agreement following the earlier of (a) the
repurchase by the Company of all Mortgage Loans and all property
acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than a Mortgage
Loan described in clause (y)) plus accrued and unpaid interest
thereon at the rate provided for in the Agreement (less any
amounts representing previously unreimbursed Monthly Advances)
and (y) the appraised value of any
47
<PAGE>
property acquired in respect of a Mortgage Loan determined as
provided in the Agreement, and (b) the later of the final payment
or other liquidation (or any Monthly Advance with respect
thereto) of the last Mortgage Loan remaining in the Trust Fund
and the disposition of all property acquired upon foreclosure or
by deed in lieu of foreclosure of any Mortgage Loan. The right of
the Company to repurchase all the Mortgage Loans and property in
respect of Mortgage Loans is subject to the Pool Scheduled
Principal Balance at the time of repurchase being less than 10
percent of the Pool Scheduled Principal Balance as of the Cut-off
Date. The Company's exercise of such right will result in early
retirement of the Certificates.
Unless this Certificate has been countersigned by the
Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any
purpose.
48
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:__________________________
Name:
Title:
Countersigned:
By_______________________
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:___________________
49
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s), assign(s) and
transfer(s) unto
Please insert social security
or other identifying number of assignee
- -----------------------------------------------------------------
- -----------------------------------------------------------------
(Please print or typewrite name and address
including postal zip code of assignee)
- -----------------------------------------------------------------
this Certificate evidencing a Percentage Interest in certain
distributions with respect to the Trust Fund and hereby
authorizes the transfer of registration of such interest to
assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to
issue a new Certificate of like Class and Percentage Interest, to
the above named assignee and deliver such Certificate to the
following address:
- -----------------------------------------------------------------
- -----------------------------------------------------------------
- -----------------------------------------------------------------
Dated:
-------------------
- -------------------------------------
Signature by or on behalf of assignor
- -------------------------
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company
or broker of the signatory who is a member of a signature
guarantee medallion program.
50
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS THE
"RESIDUAL INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT
CONDUIT" ("REMIC") AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN
SECTIONS 860G(a)(2) AND 860D OF THE INTERNAL REVENUE CODE OF
1986, AS AMENDED (THE "CODE"). A TRANSFEREE OF THIS CERTIFICATE,
BY ACCEPTANCE HEREOF, IS DEEMED TO HAVE ACCEPTED THIS CERTIFICATE
SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFERABILITY AS SET FORTH
IN THE AGREEMENT, AND SHALL BE REQUIRED TO FURNISH AN AFFIDAVIT
TO THE TRANSFEROR AND THE TRUSTEE TO THE EFFECT THAT IT IS NOT A
DISQUALIFIED ORGANIZATION, AS SUCH TERM IS DEFINED IN CODE
SECTION 860E(e)(5), AN AGENT (INCLUDING A BROKER, NOMINEE OR
OTHER MIDDLEMAN) FOR SUCH DISQUALIFIED ORGANIZATION, OR AN ENTITY
THAT HOLDS REMIC RESIDUAL SECURITIES AS NOMINEE TO FACILITATE THE
CLEARANCE AND SETTLEMENT OF SUCH SECURITIES THROUGH BOOK-ENTRY
CHANGES IN ACCOUNTS OF PARTICIPATING ORGANIZATIONS (A "BOOK-ENTRY
NOMINEE") AND TO HAVE AGREED TO SUCH AMENDMENTS TO THE AGREEMENT
AS MAY BE REQUIRED TO FURTHER EFFECTUATE THE RESTRICTIONS ON
TRANSFERS TO DISQUALIFIED ORGANIZATIONS, AGENTS THEREOF OR
BOOK-ENTRY NOMINEES.
THE HOLDER OF THIS CLASS RL CERTIFICATE, BY ACCEPTANCE HEREOF, IS
DEEMED TO HAVE IRREVOCABLY APPOINTED THE COMPANY (AS DEFINED
HEREIN) AS ITS AGENT AND ATTORNEY-IN-FACT TO ACT AS "TAX MATTERS
PERSON" OF THE LOWER-TIER REMIC TO PERFORM THE FUNCTIONS OF A
"TAX MATTERS PARTNER" FOR PURPOSES OF SUBCHAPTER C OF CHAPTER 63
OF SUBTITLE F OF THE CODE, WITH RESPECT TO THE TRUST FUND.
51
<PAGE>
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
DISQUALIFIED ORGANIZATION, BOOK-ENTRY NOMINEE OR NON-PERMITTED
FOREIGN HOLDER, AS DEFINED IN THE AGREEMENT OR TO ANY EMPLOYEE
BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY
ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO SECTION
4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED ("SECTION
4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS OF A PLAN
TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED HEREIN. THE
TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN OTHER
RESTRICTIONS AS SET FORTH HEREIN.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-14
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class RL Certificate
Principal Balance:
Class RL $60.00
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP:36157RRK3
October 26, 1998
52
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class RL Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-14, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class RL, Class PO, Class M, Class B1, Class B2, Class B3, Class
B4 and Class B5, herein called the "Certificates").
53
<PAGE>
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE "SECURITIES ACT"). ANY RESALE OR
TRANSFER OF THIS CERTIFICATE WITHOUT REGISTRATION THEREOF UNDER
THE SECURITIES ACT MAY ONLY BE MADE IN A TRANSACTION EXEMPT FROM
THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN
ACCORDANCE WITH SECTION 5.02 OF THE AGREEMENT REFERRED TO HEREIN.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
54
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-14
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class PO Certificate
Principal Balance:
Class PO $865,655.64
Certificate Interest Initial Certificate Principal
Rate per annum: Balance of this Certificate:
non-interest bearing $
Cut-off Date:
September 1, 1998
First Distribution Date:
October 26, 1998
55
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class PO Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-14, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class RL, Class PO, Class M, Class B1, Class B2, Class B3, Class
B4 and Class B5, herein called the "Certificates").
The Certificates are limited in right of payment to
certain payments on and collections in respect of the Mortgage
Loans, all as more specifically set forth in the
56
<PAGE>
Agreement. The Certificateholder, by its acceptance of this
Certificate, agrees that it will look solely to the funds on
deposit in the Certificate Account for payment hereunder and that
the Trustee in its individual capacity is not personally liable
to the Certificateholders for any amount payable under this
Certificate or the Agreement or, except as expressly provided in
the Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain
exceptions therein provided, certain losses on the Mortgage Loans
resulting from defaults by Mortgagors will be borne by the
Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the
Holders of the other Classes of the Certificates.
This Certificate does not purport to summarize the
Agreement and reference is made to the Agreement for the
interests, rights and limitations of rights, benefits,
obligations and duties evidenced hereby, and the rights, duties
and immunities of the Trustee.
The Agreement permits, with certain exceptions therein
provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the
Certificateholders under the Agreement at any time by the Company
and the Trustee with the consent of the Holders of Certificates
evidencing not less than 66% of all the Voting Rights as defined
in the Agreement. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and
upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange
herefor or in lieu hereof whether or not notation of such consent
is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the
consent of the Holders of any of the Certificates.
No transfer of any Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate which is in the form of a
Definitive Certificate shall be made to any Person unless the
Trustee has received (i) a certificate from such transferee to
the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Internal Revenue Code of 1986, as amended ("Section 4975") (a
"Plan") or a Person that is using the assets of a Plan to acquire
such Certificate or (y) is an insurance company investing assets
of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Class
Exemption 95-60, 60 Fed. Reg. 35925 (July 12, 1995) (the
"Exemption") applies to such transferee's acquisition and holding
of such Certificate, or (ii) an opinion of counsel satisfactory
to the Trustee, which opinion shall not be an expense of the
Trustee or the Company, to the effect that the purchase and
holding of such Certificate will not constitute or result in the
assets of the Trust Fund being deemed to be "plan assets" and
subject to the prohibited transaction provisions of ERISA or
Section 4975 and will not subject the Trustee or the Company to
any obligation in addition to those undertaken in the Agreement;
provided, however, that the Trustee will not require such
certificate or opinion in the event that, as a result of a change
of law or otherwise, counsel satisfactory to the Trustee has
rendered an opinion to the effect that
57
<PAGE>
the purchase and holding of a Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate by a Plan or a Person that
is purchasing or holding such Certificate with the assets of a
Plan will not constitute or result in a prohibited transaction
under ERISA or Section 4975.
No transfer of any Class R or Class RL Certificate
shall be made to any Person unless the Trustee has received a
certificate from such transferee to the effect that, among other
things, such transferee (x) is not an employee benefit plan
subject to ERISA or a Plan or a Person that is using the assets
of a Plan to acquire any such Class R or Class RL Certificate or
(y) is an insurance company investing assets of its general
account and the Exemption applies to such transferee's
acquisition and holding of any such Class R or Class RL
Certificate.
As provided in the Agreement, and subject to certain
limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register of the Trustee upon
surrender of this Certificate for registration of transfer at the
office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the
City of New York, accompanied by a written instrument of transfer
in form satisfactory to the Company, the Trustee, and the
Certificate Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and thereupon one
or more new Certificates of the same Class of authorized
denominations evidencing the same aggregate Percentage Interest
will be issued to the designated transferee or transferees.
The Certificates are issuable only as registered
Certificates without coupons in denominations specified in the
Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Certificates are exchangeable for
new Certificates of the same Class of authorized denominations
evidencing the same aggregate Percentage Interest as requested by
the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may require
payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any
agent of the Trustee or the Certificate Registrar may treat the
Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate
Registrar nor any such agent shall be affected by any notice to
the contrary.
The obligations and responsibilities created by the
Agreement, and the Trust Fund created thereby shall terminate
upon payment to the Certificateholders, or provision therefor, in
accordance with the Agreement following the earlier of (a) the
repurchase by the Company of all Mortgage Loans and all property
acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than a Mortgage
Loan described in clause (y)) plus accrued and unpaid interest
thereon at the rate provided for in the Agreement (less any
amounts representing previously unreimbursed Monthly Advances)
and (y) the appraised value of any
58
<PAGE>
property acquired in respect of a Mortgage Loan determined as
provided in the Agreement, and (b) the later of the final payment
or other liquidation (or any Monthly Advance with respect
thereto) of the last Mortgage Loan remaining in the Trust Fund
and the disposition of all property acquired upon foreclosure or
by deed in lieu of foreclosure of any Mortgage Loan. The right of
the Company to repurchase all the Mortgage Loans and property in
respect of Mortgage Loans is subject to the Pool Scheduled
Principal Balance at the time of repurchase being less than 10
percent of the Pool Scheduled Principal Balance as of the Cut-off
Date. The Company's exercise of such right will result in early
retirement of the Certificates.
Unless this Certificate has been countersigned by the
Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any
purpose.
59
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:__________________________
Name:
Title:
Countersigned:
By_______________________
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:___________________
60
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s), assign(s) and
transfer(s) unto
Please insert social security
or other identifying number of assignee
- -----------------------------------------------------------------
- -----------------------------------------------------------------
(Please print or typewrite name and address
including postal zip code of assignee)
- -----------------------------------------------------------------
this Certificate evidencing a Percentage Interest in certain
distributions with respect to the Trust Fund and hereby
authorizes the transfer of registration of such interest to
assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to
issue a new Certificate of like Class and Percentage Interest, to
the above named assignee and deliver such Certificate to the
following address:
- -----------------------------------------------------------------
- -----------------------------------------------------------------
- -----------------------------------------------------------------
Dated:
-------------------
- -------------------------------------
Signature by or on behalf of assignor
- -------------------------
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company
or broker of the signatory who is a member of a signature
guarantee medallion program.
61
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO CERTAIN
CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN THE AGREEMENT
REFERRED TO HEREIN.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS
OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED
HEREIN. THE TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN
OTHER RESTRICTIONS AS SET FORTH HEREIN.
62
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-14
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class M Certificate
Principal Balance:
Class M $9,729,365
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RRL1
October 26, 1998
63
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class M Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-14, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class RL, Class PO, Class M, Class B1, Class B2, Class B3, Class
B4 and Class B5, herein called the "Certificates").
The Certificates are limited in right of payment to
certain payments on and collections in respect of the Mortgage
Loans, all as more specifically set forth in the
64
<PAGE>
Agreement. The Certificateholder, by its acceptance of this
Certificate, agrees that it will look solely to the funds on
deposit in the Certificate Account for payment hereunder and that
the Trustee in its individual capacity is not personally liable
to the Certificateholders for any amount payable under this
Certificate or the Agreement or, except as expressly provided in
the Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain
exceptions therein provided, certain losses on the Mortgage Loans
resulting from defaults by Mortgagors will be borne by the
Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the
Holders of the other Classes of the Certificates.
This Certificate does not purport to summarize the
Agreement and reference is made to the Agreement for the
interests, rights and limitations of rights, benefits,
obligations and duties evidenced hereby, and the rights, duties
and immunities of the Trustee.
The Agreement permits, with certain exceptions therein
provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the
Certificateholders under the Agreement at any time by the Company
and the Trustee with the consent of the Holders of Certificates
evidencing not less than 66% of all the Voting Rights as defined
in the Agreement. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and
upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange
herefor or in lieu hereof whether or not notation of such consent
is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the
consent of the Holders of any of the Certificates.
No transfer of any Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate which is in the form of a
Definitive Certificate shall be made to any Person unless the
Trustee has received (i) a certificate from such transferee to
the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Internal Revenue Code of 1986, as amended ("Section 4975") (a
"Plan") or a Person that is using the assets of a Plan to acquire
such Certificate or (y) is an insurance company investing assets
of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Exemption
95-60, 60 Fed. Reg. 35925 (July 12, 1995) (the "Exemption")
applies to such transferee's acquisition and holding of such
Certificate, or (ii) an opinion of counsel satisfactory to the
Trustee, which opinion shall not be an expense of the Trustee or
the Company, to the effect that the purchase and holding of such
Certificate will not constitute or result in the assets of the
Trust Fund being deemed to be "plan assets" and subject to the
prohibited transaction provisions of ERISA or Section 4975 and
will not subject the Trustee or the Company to any obligation in
addition to those undertaken in the Agreement; provided, however,
that the Trustee will not require such certificate or opinion in
the event that, as a result of a change of law or otherwise,
counsel satisfactory to the Trustee has rendered an opinion to
the effect that
65
<PAGE>
the purchase and holding of a Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate by a Plan or a Person that
is purchasing or holding such Certificate with the assets of a
Plan will not constitute or result in a prohibited transaction
under ERISA or Section 4975.
No transfer of any Class R or Class RL Certificate
shall be made to any Person unless the Trustee has received a
certificate from such transferee to the effect that, among other
things, such transferee (x) is not an employee benefit plan
subject to ERISA or a Plan or a Person that is using the assets
of a Plan to acquire any such Class R or Class RL Certificate or
(y) is an insurance company investing assets of its general
account and the Exemption applies to such transferee's
acquisition and holding of any such Class R or Class RL
Certificate.
As provided in the Agreement, and subject to certain
limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register of the Trustee upon
surrender of this Certificate for registration of transfer at the
office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the
City of New York, accompanied by a written instrument of transfer
in form satisfactory to the Company, the Trustee, and the
Certificate Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and thereupon one
or more new Certificates of the same Class of authorized
denominations evidencing the same aggregate Percentage Interest
will be issued to the designated transferee or transferees.
The Certificates are issuable only as registered
Certificates without coupons in denominations specified in the
Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Certificates are exchangeable for
new Certificates of the same Class of authorized denominations
evidencing the same aggregate Percentage Interest as requested by
the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may require
payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any
agent of the Trustee or the Certificate Registrar may treat the
Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate
Registrar nor any such agent shall be affected by any notice to
the contrary.
The obligations and responsibilities created by the
Agreement, and the Trust Fund created thereby shall terminate
upon payment to the Certificateholders, or provision therefor, in
accordance with the Agreement following the earlier of (a) the
repurchase by the Company of all Mortgage Loans and all property
acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than a Mortgage
Loan described in clause (y)) plus accrued and unpaid interest
thereon at the rate provided for in the Agreement (less any
amounts representing previously unreimbursed Monthly Advances)
and (y) the appraised value of any
66
<PAGE>
property acquired in respect of a Mortgage Loan determined as
provided in the Agreement, and (b) the later of the final payment
or other liquidation (or any Monthly Advance with respect
thereto) of the last Mortgage Loan remaining in the Trust Fund
and the disposition of all property acquired upon foreclosure or
by deed in lieu of foreclosure of any Mortgage Loan. The right of
the Company to repurchase all the Mortgage Loans and property in
respect of Mortgage Loans is subject to the Pool Scheduled
Principal Balance at the time of repurchase being less than 10
percent of the Pool Scheduled Principal Balance as of the Cut-off
Date. The Company's exercise of such right will result in early
retirement of the Certificates.
Unless this Certificate has been countersigned by the
Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any
purpose.
67
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:__________________________
Name:
Title:
Countersigned:
By_______________________
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:___________________
68
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s), assign(s) and
transfer(s) unto
Please insert social security
or other identifying number of assignee
- -----------------------------------------------------------------
- -----------------------------------------------------------------
(Please print or typewrite name and address
including postal zip code of assignee)
- -----------------------------------------------------------------
this Certificate evidencing a Percentage Interest in certain
distributions with respect to the Trust Fund and hereby
authorizes the transfer of registration of such interest to
assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to
issue a new Certificate of like Class and Percentage Interest, to
the above named assignee and deliver such Certificate to the
following address:
- -----------------------------------------------------------------
- -----------------------------------------------------------------
- -----------------------------------------------------------------
Dated:
-------------------
- -------------------------------------
Signature by or on behalf of assignor
- -------------------------
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company
or broker of the signatory who is a member of a signature
guarantee medallion program.
69
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO CERTAIN
CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN THE AGREEMENT
REFERRED TO HEREIN.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS
OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED
HEREIN. THE TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN
OTHER RESTRICTIONS AS SET FORTH HEREIN.
70
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-14
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B1 Certificate
Principal Balance:
Class B1 $4,207,293
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RRM9
October 26, 1998
71
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class B1 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-14, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class RL, Class PO, Class M, Class B1, Class B2, Class B3, Class
B4 and Class B5, herein called the "Certificates").
72
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO CERTAIN
CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN THE AGREEMENT
REFERRED TO HEREIN.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED).
UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION ("DTC"), TO ISSUER OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT
IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY
AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR
OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS
AN INTEREST HEREIN.
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS
OF A PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED
HEREIN. THE TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN
OTHER RESTRICTIONS AS SET FORTH HEREIN.
73
<PAGE>
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-14
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B2 Certificate
Principal Balance:
Class B2 $2,366,602
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP: 36157RRN7
October 26, 1998
74
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class B2 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-14, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class RL, Class PO, Class M, Class B1, Class B2, Class B3, Class
B4 and Class B5, herein called the "Certificates").
75
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO CERTAIN
CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN THE AGREEMENT
REFERRED TO HEREIN.
THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR
THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES ("BLUE SKY
LAWS"), AND SUCH CERTIFICATE MAY NOT BE OFFERED, RESOLD, PLEDGED
OR OTHERWISE TRANSFERRED EXCEPT (A) TO A PERSON WHOM THE SELLER
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A UNDER THE SECURITIES ACT IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (B) PURSUANT TO AN
EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (C) TO AN INSTITUTIONAL
ACCREDITED INVESTOR AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7)
OF REGULATION D UNDER THE SECURITIES ACT, IN EACH CASE IN A
TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND IN ACCORDANCE WITH ANY APPLICABLE BLUE SKY
LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF THE
EXEMPTION PROVIDED BY RULE 144 FOR RESALES OF THIS CERTIFICATE.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS OF A
PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED HEREIN. THE
76
<PAGE>
TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN OTHER
RESTRICTIONS AS SET FORTH HEREIN.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-14
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B3 Certificate
Principal Balance:
Class B3 $2,103,646.00
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP:36157RSX4
October 26, 1998
77
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class B3 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-14, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class RL, Class PO, Class M, Class B1, Class B2, Class B3, Class
B4 and Class B5, herein called the "Certificates").
The Certificates are limited in right of payment to
certain payments on and collections in respect of the Mortgage
Loans, all as more specifically set forth in the
78
<PAGE>
Agreement. The Certificateholder, by its acceptance of this
Certificate, agrees that it will look solely to the funds on
deposit in the Certificate Account for payment hereunder and that
the Trustee in its individual capacity is not personally liable
to the Certificateholders for any amount payable under this
Certificate or the Agreement or, except as expressly provided in
the Agreement, subject to any liability under the Agreement.
As provided in the Agreement and with certain
exceptions therein provided, certain losses on the Mortgage Loans
resulting from defaults by Mortgagors will be borne by the
Holders of the Class M, Class B1, Class B2, Class B3, Class B4
and Class B5 Certificates before such losses will be borne by the
Holders of the other Classes of the Certificates.
This Certificate does not purport to summarize the
Agreement and reference is made to the Agreement for the
interests, rights and limitations of rights, benefits,
obligations and duties evidenced hereby, and the rights, duties
and immunities of the Trustee.
The Agreement permits, with certain exceptions therein
provided, the amendment thereof and the modification of the
rights and obligations of the Company and the rights of the
Certificateholders under the Agreement at any time by the Company
and the Trustee with the consent of the Holders of Certificates
evidencing not less than 66% of all the Voting Rights as defined
in the Agreement. Any such consent by the Holder of this
Certificate shall be conclusive and binding on such Holder and
upon all future Holders of this Certificate and of any
Certificate issued upon the transfer hereof or in exchange
herefor or in lieu hereof whether or not notation of such consent
is made upon this Certificate. The Agreement also permits the
amendment thereof, in certain limited circumstances, without the
consent of the Holders of any of the Certificates.
No transfer of any Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate which is in the form of a
Definitive Certificate shall be made to any Person unless the
Trustee has received (i) a certificate from such transferee to
the effect that such transferee (x) is not an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Internal Revenue Code of 1986, as amended ("Section 4975") (a
"Plan") or a Person that is using the assets of a Plan to acquire
such Certificate or (y) is an insurance company investing assets
of its general account and the exemption provided by Section
III(a) of Department of Labor Prohibited Transaction Exemption
95-60, 60 Fed. Reg. 35925 (July 12, 1995) (the "Exemption")
applies to such transferee's acquisition and holding of such
Certificate, or (ii) an opinion of counsel satisfactory to the
Trustee, which opinion shall not be an expense of the Trustee or
the Company, to the effect that the purchase and holding of such
Certificate will not constitute or result in the assets of the
Trust Fund being deemed to be "plan assets" and subject to the
prohibited transaction provisions of ERISA or Section 4975 and
will not subject the Trustee or the Company to any obligation in
addition to those undertaken in the Agreement; provided, however,
that the Trustee will not require such certificate or opinion in
the event that, as a result of a change of law or otherwise,
counsel satisfactory to the Trustee has rendered an opinion to
the effect that
79
<PAGE>
the purchase and holding of a Class M, Class B1, Class B2, Class
B3, Class B4 or Class B5 Certificate by a Plan or a Person that
is purchasing or holding such Certificate with the assets of a
Plan will not constitute or result in a prohibited transaction
under ERISA or Section 4975.
No transfer of any Class R or Class RL Certificate
shall be made to any Person unless the Trustee has received a
certificate from such transferee to the effect that, among other
things, such transferee (x) is not an employee benefit plan
subject to ERISA or a Plan or a Person that is using the assets
of a Plan to acquire any such Class R or Class RL Certificate or
(y) is an insurance company investing assets of its general
account and the Exemption applies to such transferee's
acquisition and holding of any such Class R or Class RL
Certificate.
As provided in the Agreement, and subject to certain
limitations therein set forth, the transfer of this Certificate
is registerable in the Certificate Register of the Trustee upon
surrender of this Certificate for registration of transfer at the
office or agency maintained by the Trustee in the city in which
the Corporate Trust Office of the Trustee is located or in the
City of New York, accompanied by a written instrument of transfer
in form satisfactory to the Company, the Trustee, and the
Certificate Registrar duly executed by the Holder hereof or such
Holder's attorney duly authorized in writing, and thereupon one
or more new Certificates of the same Class of authorized
denominations evidencing the same aggregate Percentage Interest
will be issued to the designated transferee or transferees.
The Certificates are issuable only as registered
Certificates without coupons in denominations specified in the
Agreement. As provided in the Agreement and subject to certain
limitations therein set forth, Certificates are exchangeable for
new Certificates of the same Class of authorized denominations
evidencing the same aggregate Percentage Interest as requested by
the Holder surrendering the same.
No service charge will be made for any such
registration of transfer or exchange, but the Trustee may require
payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.
The Trustee and the Certificate Registrar and any
agent of the Trustee or the Certificate Registrar may treat the
Person in whose name this Certificate is registered as the owner
hereof for all purposes, and neither the Trustee, the Certificate
Registrar nor any such agent shall be affected by any notice to
the contrary.
The obligations and responsibilities created by the
Agreement, and the Trust Fund created thereby shall terminate
upon payment to the Certificateholders, or provision therefor, in
accordance with the Agreement following the earlier of (a) the
repurchase by the Company of all Mortgage Loans and all property
acquired in respect of any Mortgage Loan remaining in the Trust
Fund at a price equal to the sum of (x) 100% of the unpaid
principal balance of each Mortgage Loan (other than a Mortgage
Loan described in clause (y)) plus accrued and unpaid interest
thereon at the rate provided for in the Agreement (less any
amounts representing previously unreimbursed Monthly Advances)
and (y) the appraised value of any
80
<PAGE>
property acquired in respect of a Mortgage Loan determined as
provided in the Agreement, and (b) the later of the final payment
or other liquidation (or any Monthly Advance with respect
thereto) of the last Mortgage Loan remaining in the Trust Fund
and the disposition of all property acquired upon foreclosure or
by deed in lieu of foreclosure of any Mortgage Loan. The right of
the Company to repurchase all the Mortgage Loans and property in
respect of Mortgage Loans is subject to the Pool Scheduled
Principal Balance at the time of repurchase being less than 10
percent of the Pool Scheduled Principal Balance as of the Cut-off
Date. The Company's exercise of such right will result in early
retirement of the Certificates.
Unless this Certificate has been countersigned by the
Trustee, by manual signature, this Certificate shall not be
entitled to any benefit under the Agreement or be valid for any
purpose.
81
<PAGE>
IN WITNESS WHEREOF, the Trustee has caused this
Certificate to be duly executed under its official seal.
STATE STREET BANK AND TRUST
COMPANY, not in its individual
capacity but solely as Trustee
(SEAL)
By:__________________________
Name:
Title:
Countersigned:
By_______________________
Authorized Signatory of
STATE STREET BANK AND TRUST COMPANY,
not in its individual capacity but
solely as Trustee
Dated:___________________
82
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sell(s), assign(s) and
transfer(s) unto
Please insert social security
or other identifying number of assignee
- -----------------------------------------------------------------
- -----------------------------------------------------------------
(Please print or typewrite name and address
including postal zip code of assignee)
- -----------------------------------------------------------------
this Certificate evidencing a Percentage Interest in certain
distributions with respect to the Trust Fund and hereby
authorizes the transfer of registration of such interest to
assignee on the Certificate Register of said Trust Fund.
I (we) further direct the Certificate Registrar to
issue a new Certificate of like Class and Percentage Interest, to
the above named assignee and deliver such Certificate to the
following address:
- -----------------------------------------------------------------
- -----------------------------------------------------------------
- -----------------------------------------------------------------
Dated:
-------------------
- -------------------------------------
Signature by or on behalf of assignor
- -------------------------
*Signature Guaranteed*
*The signature hereon must be guaranteed by a bank, trust company
or broker of the signatory who is a member of a signature
guarantee medallion program.
83
<PAGE>
In connection with any transfer of this Certificate,
the undersigned registered holder hereof confirms that without
utilizing any general solicitation or general advertising:
(Check One) -
|_| (a) This Certificate is being transferred by
the undersigned to a person whom the
undersigned reasonably believes is a
"qualified institutional buyer" (as defined
in Rule 144A under the Securities Act of
1933, as amended) pursuant to the exemption
from registration under the Securities Act
of 1933, as amended, provided by Rule 144A
thereunder.
|_| (b) This Certificate is being transferred by
the undersigned to an institutional
"accredited investor" (as defined in Rule
501(a)(1), (2), (3) or (7) of Regulation D
under the Securities Act of 1933, as
amended) and that the undersigned has been
advised by the prospective purchaser that it
intends to hold this Certificate for
investment and not for distribution or
resale.
Dated
- ------------------------- -------------------------------------
(Signature)
If none of the foregoing boxes is checked, the Trustee shall not
be obligated to register this Certificate in the name of any
person other than the registered holder thereof unless and until
the conditions to any such transfer of registration set forth
herein, and in the Pooling and Servicing Agreement have been
satisfied.
TO BE COMPLETED BY PURCHASER IF (a) ABOVE IS CHECKED:
The undersigned represents and warrants that (i) it is
a "qualified institutional buyer" (as defined in Rule 144A under
the Securities Act of 1933, as amended) and acknowledges that it
has received such information as the undersigned has requested
pursuant to Rule 144A or has determined not to request such
information and that it is aware that the registered holder is
relying upon the undersigned's foregoing representations in order
to claim the exemption from registration provided by Rule 144A,
and (ii) the undersigned (x) is not an employee benefit plan
subject to the Employee Retirement Income Security Act of 1974,
as amended, or a plan subject to Section 4975 of the Internal
Revenue Code of 1986, as amended, and is not using the assets of
any such employee benefit or other plan to acquire this
Certificate
84
<PAGE>
or (y) is an insurance company investing assets of its general
account and the exemptions provided by Section III(a) of
Department of Labor Prohibited Transaction Exemption 95-60, 60
Fed. Reg. 35925 (July 12, 1995), apply to the acquisition and
holding by the undersigned of this Certificate.
Dated
- ------------------------- ------------------------------------
(Signature)
TO BE COMPLETED BY PURCHASER IF (b) ABOVE IS CHECKED:
The undersigned represents and warrants that (i) it is
an institutional "accredited investor" (as defined in Rule
501(a)(1), (2), (3) or (7) of Regulation D under the Securities
Act of 1933, as amended), and (ii) the undersigned (x) is not an
employee benefit plan subject to the Employee Retirement Income
Security Act of 1974, as amended, or a plan subject to Section
4975 of the Internal Revenue Code of 1986, as amended, and is not
using the assets of any such employee benefit or other plan to
acquire this Certificate or (y) is an insurance company investing
assets of its general account and the exemptions provided by
Section III(a) of Department of Labor Prohibited Transaction
Exemption 95-60, 60 Fed. Reg. 35925 (July 12, 1995), apply to the
acquisition and holding by the undersigned of this Certificate.
Dated
- ------------------------- ------------------------------------
(Signature)
85
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO CERTAIN
CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN THE AGREEMENT
REFERRED TO HEREIN.
THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR
THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES ("BLUE SKY
LAWS"), AND SUCH CERTIFICATE MAY NOT BE OFFERED, RESOLD, PLEDGED
OR OTHERWISE TRANSFERRED EXCEPT (A) TO A PERSON WHOM THE SELLER
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A UNDER THE SECURITIES ACT IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (B) PURSUANT TO AN
EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (C) TO AN INSTITUTIONAL
ACCREDITED INVESTOR AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7)
OF REGULATION D UNDER THE SECURITIES ACT, IN EACH CASE IN A
TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND IN ACCORDANCE WITH ANY APPLICABLE BLUE SKY
LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF THE
EXEMPTION PROVIDED BY RULE 144 FOR RESALES OF THIS CERTIFICATE.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS OF A
PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED HEREIN. THE
86
<PAGE>
TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN OTHER
RESTRICTIONS AS SET FORTH HEREIN.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-14
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B4 Certificate
Principal Balance:
Class B4 $1,051,823.00
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP:36157RSY2
October 26, 1998
87
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class B4 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-14, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class RL, Class PO, Class M, Class B1, Class B2, Class B3, Class
B4 and Class B5, herein called the "Certificates").
88
<PAGE>
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF DISTRIBUTION TO CERTAIN
CLASSES OF THE CERTIFICATES AS SET FORTH HEREIN AND IN THE AGREEMENT
REFERRED TO HEREIN.
THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR
THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES ("BLUE SKY
LAWS"), AND SUCH CERTIFICATE MAY NOT BE OFFERED, RESOLD, PLEDGED
OR OTHERWISE TRANSFERRED EXCEPT (A) TO A PERSON WHOM THE SELLER
REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER WITHIN THE
MEANING OF RULE 144A UNDER THE SECURITIES ACT IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 144A, (B) PURSUANT TO AN
EXEMPTION FROM REGISTRATION PROVIDED BY RULE 144 UNDER THE
SECURITIES ACT (IF AVAILABLE) OR (C) TO AN INSTITUTIONAL
ACCREDITED INVESTOR AS DEFINED IN RULE 501(a)(1), (2), (3) OR (7)
OF REGULATION D UNDER THE SECURITIES ACT, IN EACH CASE IN A
TRANSACTION EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND IN ACCORDANCE WITH ANY APPLICABLE BLUE SKY
LAWS. NO REPRESENTATION IS MADE AS TO THE AVAILABILITY OF THE
EXEMPTION PROVIDED BY RULE 144 FOR RESALES OF THIS CERTIFICATE.
PRINCIPAL IN RESPECT OF THIS CERTIFICATE IS DISTRIBUTABLE AS SET
FORTH IN THE AGREEMENT (AS DEFINED HEREIN). ACCORDINGLY, THE
CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY
BE LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE OF THIS
CERTIFICATE AS SET FORTH HEREON. THIS CERTIFICATE DOES NOT
REPRESENT AN INTEREST IN OR OBLIGATION OF GE CAPITAL MORTGAGE
SERVICES, INC. OR THE TRUSTEE (AS DEFINED HEREIN).
TRANSFER OF THIS CERTIFICATE IS RESTRICTED AS PROVIDED IN SECTION
5.02 OF THE AGREEMENT.
THIS CERTIFICATE IS A "REGULAR INTEREST" IN A "REAL ESTATE
MORTGAGE INVESTMENT CONDUIT" ("REMIC") (AS THOSE TERMS ARE
DEFINED, RESPECTIVELY, IN SECTIONS 860G(a)(1) AND 860D OF THE
INTERNAL REVENUE CODE OF 1986, AS AMENDED
THIS CERTIFICATE MAY NOT BE PURCHASED BY OR TRANSFERRED TO ANY
EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME
SECURITY ACT OF 1974, AS AMENDED ("ERISA") OR A PLAN SUBJECT TO
SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED
("SECTION 4975") (A "PLAN") OR A PERSON THAT IS USING THE ASSETS OF A
PLAN TO ACQUIRE THIS CERTIFICATE, EXCEPT AS DESCRIBED HEREIN. THE
89
<PAGE>
TRANSFER OF THIS CERTIFICATE IS SUBJECT TO CERTAIN OTHER
RESTRICTIONS AS SET FORTH HEREIN.
REMIC MULTI-CLASS PASS-THROUGH CERTIFICATE, SERIES 1998-14
evidencing a beneficial ownership interest in a
trust fund which consists primarily of a pool of
conventional, fixed rate, one- to four-family
mortgage loans sold and serviced by
GE CAPITAL MORTGAGE SERVICES, INC.
No. R- Initial Class B5 Certificate
Principal Balance:
Class B5 $1,578,247.19
Certificate Interest Initial Certificate Principal
Rate per annum: 6.75% Balance of this Certificate:
$
Cut-off Date:
September 1, 1998
First Distribution Date: CUSIP:36157RSZ9
October 26, 1998
90
<PAGE>
THIS CERTIFIES THAT
is the registered owner of the Percentage Interest evidenced by
this Certificate (obtained by dividing the initial Certificate
Principal Balance of this Certificate by the aggregate initial
Certificate Principal Balance of all Class B5 Certificates, both
as specified above) in certain distributions with respect to the
Trust Fund, consisting primarily of a pool (the "Pool") of
conventional, fixed rate, one- to four-family mortgage loans (the
"Mortgage Loans"), sold and serviced by GE Capital Mortgage
Services, Inc., a corporation organized and existing under the
laws of the State of New Jersey (the "Company"). The Trust Fund
was created pursuant to a Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement"), between the Company
and State Street Bank and Trust Company, as trustee (the
"Trustee"), a summary of certain of the pertinent provisions of
which is set forth herein below. To the extent not defined
herein, the terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the
terms, provisions and conditions of the Agreement, to which
Agreement the Holder of this Certificate by virtue of the
acceptance hereof assents and by which such Holder is bound.
The Agreement requires the distribution on the 25th
day of each month or, if such 25th day is not a Business Day, the
Business Day immediately following (the "Distribution Date"),
commencing in October 1998, to the Person in whose name this
Certificate is registered at the close of business on the last
Business Day of the month immediately preceding the month of such
distribution (the "Record Date"), of an amount equal to the
product of the Percentage Interest evidenced by this Certificate
and the aggregate amount required to be distributed to Holders of
Certificates of the same Class as this Certificate pursuant to
the Agreement.
Distributions on this Certificate will be made by the
Trustee by check or money order mailed to the Person entitled
thereto at the address appearing in the Certificate Register or,
upon written request by the Certificateholder, by such other
means of payment as such Person and the Trustee shall agree.
Except as otherwise provided in the Agreement, the final
distribution on this Certificate will be made in the applicable
manner described above, after due notice by the Trustee of the
pendency of such distribution and only upon presentation and
surrender of this Certificate at the office or agency maintained
for that purpose by the Trustee in New York, New York.
This Certificate is one of a duly authorized issue of
Certificates designated as REMIC Multi-Class Pass-Through
Certificates, Series 1998-14, issued in twenty-one Classes (Class
A1, Class A2, Class A3, Class A4, Class A5, Class A6, Class A7,
Class A8, Class A9, Class A10, Class A11, Class A12, Class R,
Class RL, Class PO, Class M, Class B1, Class B2, Class B3, Class
B4 and Class B5, herein called the "Certificates").
91
<PAGE>
EXHIBIT B
PRINCIPAL BALANCE SCHEDULES
APPENDIX A
AGGREGATE PAC BALANCES TABLE
The Aggregate PAC Balances set forth in the table below
were calculated on the basis of the aggregate Class Certificate
Principal Balances or Component Principal Balances of the PAC
Certificates set forth on the cover hereof, and the other
assumptions described in "Yield and Weighted Average Life
Considerations--Weighted Average Lives of the Certificates--PAC
Certificates" herein. If such Class Certificate Principal
Balances or Component Principal Balances are increased or
decreased in accordance with the variance permitted hereby, the
balances set forth in the table below will be increased or
decreased substantially correspondingly. In such event, the final
Aggregate PAC Balances Table will be calculated on or about the
Closing Date on the basis of such revised Class Certificate
Principal Balances and Component Principal Balances and on the
basis of (1) the Structuring Range of the PAC Certificates, (2)
the assumptions set forth in clauses (i), (iv) through (viii),
(x) and (xi) of the Modeling Assumptions and (3) the
characteristics of the Mortgage Loans included in the Mortgage
Pool on the Closing Date. The final Aggregate PAC Balances Table
will be set forth in the Agreement, which will be filed as an
exhibit to the Detailed Description.
Aggregate
Distribution Date PAC Balances
- ------------------------------------------------ ---------------
Initial Balance................................. $175,625,000.00
October 1998.................................... 175,137,380.84
November 1998................................... 174,572,450.95
December 1998................................... 173,930,460.67
January 1999.................................... 173,211,580.17
February 1999................................... 172,416,019.44
March 1999...................................... 171,544,028.26
April 1999...................................... 170,595,896.14
May 1999........................................ 169,571,952.19
June 1999....................................... 168,472,565.00
July 1999....................................... 167,298,142.48
August 1999..................................... 166,049,131.63
September 1999.................................. 164,726,018.32
October 1999.................................... 163,329,326.99
November 1999................................... 161,859,620.39
December 1999................................... 160,317,499.18
January 2000.................................... 158,703,601.61
February 2000................................... 157,018,603.08
March 2000...................................... 155,263,215.69
April 2000...................................... 153,438,187.80
May 2000........................................ 151,544,303.52
June 2000....................................... 149,582,382.13
July 2000....................................... 147,553,277.57
August 2000..................................... 145,457,877.80
September 2000.................................. 143,297,104.21
October 2000.................................... 141,071,910.93
November 2000................................... 138,783,284.13
December 2000................................... 136,432,241.37
January 2001.................................... 134,019,830.78
February 2001................................... 131,547,130.35
March 2001...................................... 129,086,990.08
April 2001...................................... 126,639,346.28
May 2001........................................ 124,204,135.59
June 2001....................................... 121,781,295.02
July 2001....................................... 119,370,761.88
August 2001..................................... 116,972,473.81
September 2001.................................. 114,586,368.79
October 2001.................................... 112,212,385.12
November 2001................................... 109,850,461.44
December 2001................................... 107,500,536.69
January 2002.................................... 105,162,550.15
February 2002................................... 102,836,441.40
S-65
<PAGE>
Aggregate
Distribution Date PAC Balances
- ------------------------------------------------ ---------------
March 2002...................................... 100,522,150.37
April 2002...................................... 98,219,617.27
May 2002........................................ 95,928,782.66
June 2002....................................... 93,649,587.39
July 2002....................................... 91,381,972.63
August 2002..................................... 89,125,879.86
September 2002.................................. 86,881,250.88
October 2002.................................... 84,648,027.77
November 2002................................... 82,426,152.95
December 2002................................... 80,215,569.12
January 2003.................................... 78,016,219.29
February 2003................................... 75,828,046.77
March 2003...................................... 73,650,995.19
April 2003...................................... 71,485,008.44
May 2003........................................ 69,330,030.74
June 2003....................................... 67,186,006.59
July 2003....................................... 65,052,880.79
August 2003..................................... 62,930,598.43
September 2003.................................. 60,819,104.89
October 2003.................................... 58,747,137.57
November 2003................................... 56,685,737.09
December 2003................................... 54,634,849.28
January 2004.................................... 52,594,420.27
February 2004................................... 50,564,396.47
March 2004...................................... 48,544,724.55
April 2004...................................... 46,535,351.48
May 2004........................................ 44,536,224.49
June 2004....................................... 42,547,291.10
July 2004....................................... 40,568,499.08
August 2004..................................... 38,599,796.50
September 2004.................................. 36,641,131.68
October 2004.................................... 34,701,733.64
November 2004................................... 32,772,213.09
December 2004................................... 30,852,519.13
January 2005.................................... 28,949,300.09
February 2005................................... 27,107,429.58
March 2005...................................... 25,325,018.17
April 2005...................................... 23,600,233.43
May 2005........................................ 21,931,298.22
June 2005....................................... 20,316,489.07
July 2005....................................... 18,754,134.54
August 2005..................................... 17,242,613.68
September 2005.................................. 15,780,354.54
October 2005.................................... 14,448,539.84
November 2005................................... 13,160,327.78
December 2005................................... 11,914,346.81
January 2006.................................... 10,709,267.47
February 2006................................... 9,543,801.16
March 2006...................................... 8,416,698.85
April 2006...................................... 7,326,749.92
May 2006........................................ 6,272,780.99
June 2006....................................... 5,253,654.77
July 2006....................................... 4,268,269.01
August 2006..................................... 3,315,555.40
September 2006.................................. 2,394,478.56
October 2006.................................... 1,569,701.21
November 2006................................... 771,689.94
December 2006................................... 0.00
S-66
<PAGE>
APPENDIX B
AGGREGATE TAC BALANCES TABLE
The Aggregate TAC A Balances, the Aggregate TAC B Balances
and the Aggregate TAC C Balances set forth in the table below
were calculated on the basis of the Class Certificate Principal
Balances or Component Principal Balances of the TAC Certificates
set forth on the cover hereof and a constant prepayment rate of
250% of the Prepayment Assumption (in the case of the TAC A and
TAC C Certificates) and 175% of the Prepayment Assumption (in the
case of the TAC B Certificates). If such Class Certificate
Principal Balances or Component Principal Balances are increased
or decreased in accordance with the variance permitted hereby,
the applicable balances set forth in the table below will be
increased or decreased substantially correspondingly. In such
event, the Aggregate TAC A Balances, the Aggregate TAC B Balances
and the Aggregate TAC C Balances will be calculated on or about
the Closing Date on the basis of such revised Class Certificate
Principal Balances or Component Principal Balances of the related
TAC Certificates and on the basis of (1) the characteristics of
the Mortgage Loans included in the Mortgage Pool on the Closing
Date, and (2) the assumptions set forth in clauses (i), (iv)
through (viii), (x) and (xi) of the Modeling Assumptions. The
final Aggregate TAC Balances Table will be set forth in the
Agreement, which will be filed as an exhibit to the Detailed
Description.
Distribution Aggregate TAC A Aggregate TAC B Aggregate TAC C
Date Balances Balances Balances
- ----------------- --------------- --------------- ---------------
Initial Balance.. $215,517,000.00 $207,782,000.00 $132,782,000.00
October 1998..... 215,290,078.47 207,668,696.35 132,324,946.35
November 1998.... 214,949,438.10 207,498,688.38 131,809,612.86
December 1998.... 214,495,144.17 207,272,031.95 131,236,048.17
January 1999..... 213,927,463.92 206,988,862.51 130,604,380.46
February 1999.... 213,246,867.64 206,649,395.34 129,914,817.76
March 1999....... 212,454,029.37 206,253,925.73 129,167,648.00
April 1999....... 211,549,827.05 205,802,828.89 128,363,239.05
May 1999......... 210,535,342.24 205,296,559.86 127,502,038.57
June 1999........ 209,411,859.37 204,735,653.14 126,584,573.62
July 1999........ 208,180,864.47 204,120,722.28 125,611,450.31
August 1999...... 206,844,043.43 203,452,459.26 124,583,353.14
September 1999... 205,403,279.76 202,731,633.78 123,501,044.25
October 1999..... 203,860,651.92 201,959,092.32 122,365,362.59
November 1999.... 202,218,430.06 201,135,757.17 121,177,222.85
December 1999.... 200,479,072.37 200,262,625.23 119,937,614.29
January 2000..... 198,645,220.95 199,340,766.67 117,952,053.71
February 2000.... 196,719,697.14 198,371,323.53 115,656,686.22
March 2000....... 194,705,496.49 197,355,508.09 113,270,946.76
April 2000....... 192,605,783.18 196,294,601.17 110,797,991.77
May 2000......... 190,423,884.09 195,189,950.24 108,241,140.30
June 2000........ 188,163,282.42 194,042,967.47 105,603,867.73
July 2000........ 185,827,610.85 192,855,127.58 102,889,798.84
August 2000...... 183,420,644.38 191,627,965.66 100,102,700.73
September 2000... 180,946,292.74 190,363,074.73 97,246,475.18
October 2000..... 178,408,592.47 189,062,103.36 94,325,150.75
November 2000.... 175,811,698.68 187,726,753.06 91,342,874.51
December 2000.... 173,159,876.41 186,358,775.57 88,303,903.47
January 2001..... 170,457,491.83 184,959,970.13 85,212,595.68
February 2001.... 167,709,003.03 183,532,180.59 82,073,401.10
March 2001....... 165,021,078.75 182,129,145.41 78,992,980.31
April 2001....... 162,392,782.42 180,750,583.03 75,970,388.54
May 2001......... 159,823,190.76 179,396,214.77 73,004,694.23
June 2001........ 157,311,393.54 178,065,764.77 70,094,978.91
July 2001........ 154,856,493.49 176,758,959.99 67,240,336.95
August 2001...... 152,457,606.02 175,475,530.17 64,439,875.44
S-67
<PAGE>
Distribution Aggregate TAC A Aggregate TAC B Aggregate TAC C
Date Balances Balances Balances
- ----------------- --------------- --------------- ---------------
September 2001... 150,113,859.15 174,215,207.81 61,692,713.97
October 2001..... 147,824,393.26 172,977,728.11 58,997,984.49
November 2001.... 145,588,360.94 171,762,829.00 56,354,831.13
December 2001.... 143,404,926.84 170,570,251.08 53,762,410.02
January 2002..... 141,273,267.49 169,399,737.59 51,219,889.14
February 2002.... 139,192,571.15 168,251,034.40 48,726,448.14
March 2002....... 137,162,037.60 167,123,889.98 46,281,278.20
April 2002....... 135,180,878.06 166,018,055.36 43,883,581.84
May 2002......... 133,248,314.97 164,933,284.12 41,532,572.81
June 2002........ 131,363,581.86 163,869,332.39 39,227,475.88
July 2002........ 129,525,923.19 162,825,958.77 36,967,526.73
August 2002...... 127,734,594.23 161,802,924.33 34,751,971.78
September 2002... 125,988,860.84 160,799,992.62 32,580,068.04
October 2002..... 124,287,999.40 159,816,929.59 30,451,082.97
November 2002.... 122,631,296.63 158,853,503.59 28,364,294.33
December 2002.... 121,018,049.45 157,909,485.38 26,318,990.06
January 2003..... 119,447,564.83 156,984,648.05 24,314,468.08
February 2003.... 117,919,159.67 156,078,767.03 22,350,036.23
March 2003....... 116,432,160.66 155,191,620.06 20,425,012.07
April 2003....... 114,985,904.14 154,322,987.17 18,538,722.78
May 2003......... 113,579,735.95 153,472,650.66 16,690,505.02
June 2003........ 112,213,011.34 152,640,395.05 14,879,704.77
July 2003........ 110,885,094.81 151,826,007.12 13,105,677.24
August 2003...... 109,595,359.96 151,029,275.83 11,367,786.73
September 2003... 108,343,189.44 150,249,992.31 9,665,406.50
October 2003..... 107,174,490.00 149,510,671.28 8,044,433.88
November 2003.... 106,041,775.58 148,788,234.45 6,457,373.38
December 2003.... 104,944,456.17 148,082,479.54 4,903,625.46
January 2004..... 103,881,950.23 147,393,206.36 3,382,599.04
February 2004.... 102,853,684.62 146,720,216.81 1,893,711.40
March 2004....... 101,859,094.48 146,063,314.84 437,094.48
April 2004....... 100,897,623.11 145,422,306.41 0.00
May 2004......... 99,968,721.85 144,796,999.52 0.00
June 2004........ 99,071,849.99 144,187,204.14 0.00
July 2004........ 98,206,474.62 143,592,732.23 0.00
August 2004...... 97,372,070.57 143,013,397.69 0.00
September 2004... 96,568,120.27 142,449,016.37 0.00
October 2004..... 95,808,389.60 141,906,488.45 0.00
November 2004.... 95,077,874.30 141,378,460.65 0.00
December 2004.... 94,376,080.88 140,864,755.04 0.00
January 2005..... 93,695,824.14 140,358,496.65 0.00
February 2005.... 92,991,700.91 139,814,587.26 0.00
March 2005....... 92,265,078.32 139,234,693.81 0.00
April 2005....... 91,517,273.65 138,620,428.30 0.00
May 2005......... 90,749,555.93 137,973,349.48 0.00
June 2005........ 89,963,147.51 137,294,964.46 0.00
July 2005........ 89,159,225.54 136,586,730.32 0.00
August 2005...... 88,338,923.46 135,850,055.65 0.00
September 2005... 87,503,332.41 135,086,302.00 0.00
October 2005..... 86,614,234.61 134,244,876.94 0.00
November 2005.... 85,713,856.60 133,381,245.54 0.00
December 2005.... 84,803,115.97 132,496,577.14 0.00
S-68
<PAGE>
Distribution Aggregate TAC A Aggregate TAC B Aggregate TAC C
Date Balances Balances Balances
- ----------------- --------------- --------------- ---------------
January 2006..... 83,882,894.41 131,592,000.88 0.00
February 2006.... 82,954,038.98 130,668,606.93 0.00
March 2006....... 82,017,363.23 129,727,447.69 0.00
April 2006....... 81,073,648.31 128,769,539.01 0.00
May 2006......... 80,123,644.03 127,795,861.33 0.00
June 2006........ 79,168,069.97 126,807,360.75 0.00
July 2006........ 78,207,616.44 125,804,950.15 0.00
August 2006...... 77,242,945.46 124,789,510.23 0.00
September 2006... 76,274,691.74 123,761,890.49 0.00
October 2006..... 75,276,508.41 122,685,549.28 0.00
November 2006.... 74,277,978.48 121,601,079.23 0.00
December 2006.... 73,279,175.06 120,508,748.82 0.00
January 2007..... 71,534,363.07 118,663,014.81 0.00
February 2007.... 69,814,871.02 116,835,394.14 0.00
March 2007....... 68,120,342.48 115,025,715.44 0.00
April 2007....... 66,450,425.99 113,233,808.92 0.00
May 2007......... 64,804,774.90 111,459,506.39 0.00
June 2007........ 63,183,047.40 109,702,641.21 0.00
July 2007........ 61,584,906.39 107,963,048.33 0.00
August 2007...... 60,010,019.45 106,240,564.20 0.00
September 2007... 58,458,058.75 104,535,026.84 0.00
October 2007..... 56,962,034.34 102,871,673.36 0.00
November 2007.... 55,487,373.23 101,224,439.51 0.00
December 2007.... 54,033,778.86 99,593,174.39 0.00
January 2008..... 52,600,958.71 97,977,728.51 0.00
February 2008.... 51,188,624.27 96,377,953.76 0.00
March 2008....... 49,796,490.98 94,793,703.40 0.00
April 2008....... 48,424,278.17 93,224,832.05 0.00
May 2008......... 47,071,709.02 91,671,195.68 0.00
June 2008........ 45,738,510.49 90,132,651.58 0.00
July 2008........ 44,424,413.29 88,609,058.39 0.00
August 2008...... 43,129,151.80 87,100,276.02 0.00
September 2008... 41,852,464.05 85,606,165.70 0.00
October 2008..... 40,594,091.65 84,126,589.94 0.00
November 2008.... 39,353,779.77 82,661,412.53 0.00
December 2008.... 38,131,277.03 81,210,498.52 0.00
January 2009..... 36,926,335.54 79,773,714.19 0.00
February 2009.... 35,738,710.78 78,350,927.07 0.00
March 2009....... 34,568,161.58 76,942,005.94 0.00
April 2009....... 33,414,450.08 75,546,820.76 0.00
May 2009......... 32,277,341.70 74,165,242.70 0.00
June 2009........ 31,156,605.03 72,797,144.15 0.00
July 2009........ 30,052,011.88 71,442,398.66 0.00
August 2009...... 28,963,337.15 70,100,880.94 0.00
September 2009... 27,890,358.87 68,772,466.90 0.00
October 2009..... 26,832,858.07 67,457,033.55 0.00
November 2009.... 25,790,618.80 66,154,459.08 0.00
December 2009.... 24,763,428.10 64,864,622.78 0.00
January 2010..... 23,751,075.88 63,587,405.08 0.00
February 2010.... 22,753,354.98 62,322,687.50 0.00
March 2010....... 21,770,061.05 61,070,352.68 0.00
April 2010....... 20,800,992.56 59,830,284.32 0.00
S-69
<PAGE>
Distribution Aggregate TAC A Aggregate TAC B Aggregate TAC C
Date Balances Balances Balances
- ----------------- --------------- --------------- ---------------
May 2010......... 19,845,950.74 58,602,367.21 0.00
June 2010........ 18,904,739.57 57,386,487.22 0.00
July 2010........ 17,977,165.69 56,182,531.25 0.00
August 2010...... 17,063,038.41 54,990,387.28 0.00
September 2010... 16,162,169.66 53,809,944.30 0.00
October 2010..... 15,274,373.95 52,641,092.35 0.00
November 2010.... 14,399,468.34 51,483,722.47 0.00
December 2010.... 13,537,272.41 50,337,726.72 0.00
January 2011..... 12,687,608.20 49,202,998.17 0.00
February 2011.... 11,850,300.22 48,079,430.86 0.00
March 2011....... 11,025,175.38 46,966,919.83 0.00
April 2011....... 10,212,062.96 45,865,361.08 0.00
May 2011......... 9,410,794.60 44,774,651.59 0.00
June 2011........ 8,621,204.25 43,694,689.27 0.00
July 2011........ 7,843,128.15 42,625,373.01 0.00
August 2011...... 7,076,404.79 41,566,602.60 0.00
September 2011... 6,320,874.87 40,518,278.80 0.00
October 2011..... 5,576,381.30 39,480,303.25 0.00
November 2011.... 4,842,769.13 38,452,578.53 0.00
December 2011.... 4,119,885.58 37,435,008.11 0.00
January 2012..... 3,407,579.92 36,427,496.36 0.00
February 2012.... 2,705,703.54 35,429,948.54 0.00
March 2012....... 2,014,109.85 34,442,270.78 0.00
April 2012....... 1,332,654.30 33,464,370.08 0.00
May 2012......... 661,194.31 32,496,154.32 0.00
June 2012........ 0.00 31,537,532.22 0.00
July 2012........ 0.00 30,588,413.34 0.00
August 2012...... 0.00 29,648,708.09 0.00
September 2012... 0.00 28,718,327.72 0.00
October 2012..... 0.00 27,797,184.28 0.00
November 2012.... 0.00 26,885,190.66 0.00
December 2012.... 0.00 25,982,260.54 0.00
January 2013..... 0.00 25,088,308.41 0.00
February 2013.... 0.00 24,203,249.55 0.00
March 2013....... 0.00 23,327,000.02 0.00
April 2013....... 0.00 22,459,476.68 0.00
May 2013......... 0.00 21,600,597.14 0.00
June 2013........ 0.00 20,750,279.79 0.00
July 2013........ 0.00 19,908,443.76 0.00
August 2013...... 0.00 19,075,008.96 0.00
September 2013... 0.00 18,249,896.00 0.00
October 2013..... 0.00 17,433,026.26 0.00
November 2013.... 0.00 16,624,321.85 0.00
December 2013.... 0.00 15,823,705.59 0.00
January 2014..... 0.00 15,031,101.02 0.00
February 2014.... 0.00 14,246,432.39 0.00
March 2014....... 0.00 13,469,624.65 0.00
April 2014....... 0.00 12,700,603.47 0.00
May 2014......... 0.00 11,939,295.17 0.00
June 2014........ 0.00 11,185,626.79 0.00
July 2014........ 0.00 10,439,526.03 0.00
August 2014...... 0.00 9,700,921.27 0.00
S-70
<PAGE>
Distribution Aggregate TAC A Aggregate TAC B Aggregate TAC C
Date Balances Balances Balances
- ----------------- --------------- --------------- ---------------
September 2014... 0.00 8,969,741.54 0.00
October 2014..... 0.00 8,245,916.54 0.00
November 2014.... 0.00 7,529,376.64 0.00
December 2014.... 0.00 6,820,052.82 0.00
January 2015..... 0.00 6,117,876.73 0.00
February 2015.... 0.00 5,422,780.66 0.00
March 2015....... 0.00 4,734,697.49 0.00
April 2015....... 0.00 4,053,560.76 0.00
May 2015......... 0.00 3,379,304.63 0.00
June 2015........ 0.00 2,711,863.84 0.00
July 2015........ 0.00 2,051,173.77 0.00
August 2015...... 0.00 1,397,170.37 0.00
September 2015... 0.00 749,790.22 0.00
October 2015..... 0.00 108,970.46 0.00
November 2015.... 0.00 0.00 0.00
S-71
<PAGE>
EXHIBIT C
MORTGAGE LOANS
[Each Mortgage Loan shall be identified by loan number,
address of the Mortgaged Property and name of the Mortgagor. The
following details shall be set forth as to each Mortgage Loan:
(i) the principal balance at the time of its origination, (ii)
the Scheduled Principal Balance as of the Cut-off Date, (iii) the
interest rate borne by the Mortgage Note, (iv) the scheduled
monthly level payment of principal and interest, (v) the
Loan-To-Value ratio, (vi) the maturity date of the Mortgage Note
and (vii) the Base Servicing Fee Rate for such Mortgage Loan.
Cooperative Loans and Enhanced Streamlined Refinance program
loans shall be designated as such.]
1
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 1
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007685167 MORTGAGORS: SWANSON MICHAEL
SWANSON AMANDA
REGION CODE ADDRESS : 257 S SEA WAY
02 CITY : LIVERMORE
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,467.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,319.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 73.16000
----------------------------------------------------------------
0 0007687429 MORTGAGORS: ENGLEKING STEVEN
ENGELKING MARNE
REGION CODE ADDRESS : 3305 VALLEY OAK DRIVE
02 CITY : LOVELAND
STATE/ZIP : CO 80538
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 313,539.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,175.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 03/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 74.11700
----------------------------------------------------------------
0 0007687437 MORTGAGORS: CRIGGER SHERMAN
CRIGGER REBECCA
REGION CODE ADDRESS : 3324 SUEMAC COURT
02 CITY : MONROVIA
STATE/ZIP : MD 21770
MORTGAGE AMOUNT : 322,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 322,431.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,285.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 89.99300
----------------------------------------------------------------
0 0007687460 MORTGAGORS: WEINSTEIN ALAN
SCHMUNK ELENA
REGION CODE ADDRESS : 2033 COCKRELL POINTE
02 CITY : KENNESAW
STATE/ZIP : GA 30152
MORTGAGE AMOUNT : 294,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 293,939.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,008.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.99600
----------------------------------------------------------------
0 0007687478 MORTGAGORS: MIESIASZEK STEVE
MIESIASZEK MARY
REGION CODE ADDRESS : 5057 AUDLEY LANE
02 CITY : NORCROSS
STATE/ZIP : GA 30092
MORTGAGE AMOUNT : 283,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,067.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,958.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,555,800.00
P & I AMT: 10,746.89
UPB AMT: 1,552,445.13
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 2
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007687494 MORTGAGORS: BROWN CARY
BROWN KATHLEEN
REGION CODE ADDRESS : 808 S.LAKEVIEW RD
02 CITY : TAMPA
STATE/ZIP : FL 33609
MORTGAGE AMOUNT : 230,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 230,606.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,614.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.99600
----------------------------------------------------------------
0 0007687502 MORTGAGORS: SHERWIN MARK
REGION CODE ADDRESS : 3006-A WEST JULIA STREET
02 CITY : TAMPA
STATE/ZIP : FL 33629
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,660.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,849.09 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007687510 MORTGAGORS: O'BRIEN KEVIN
O'BRIEN DEBORAH
REGION CODE ADDRESS : 3525 OLD COURSE LANE
02 CITY : VALRICO
STATE/ZIP : FL 33594
MORTGAGE AMOUNT : 313,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 312,522.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,161.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.84600
----------------------------------------------------------------
0 0007687528 MORTGAGORS: ALMER CHARLES
ALMER CAROLYN
REGION CODE ADDRESS : 12773 OAK FARMS DRIVE
02 CITY : OAK HILL
STATE/ZIP : VA 20171
MORTGAGE AMOUNT : 295,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,275.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,012.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 66.23700
----------------------------------------------------------------
0 0007687536 MORTGAGORS: ZEISING JOHN
ZEISING SUSAN
REGION CODE ADDRESS : 30382 MARY DRIVE
02 CITY : CONIFER
STATE/ZIP : CO 80433
MORTGAGE AMOUNT : 241,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,551.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,623.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 87.95600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,331,950.00
P & I AMT: 9,261.82
UPB AMT: 1,329,615.43
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 3
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007687551 MORTGAGORS: OLSEN LINDA
REGION CODE ADDRESS : 5553 S.LAREDO ST.
02 CITY : AURORA
STATE/ZIP : CO 80015
MORTGAGE AMOUNT : 261,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,990.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,783.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 78.73400
----------------------------------------------------------------
0 0007687569 MORTGAGORS: CALLOWAY NATRESS
CALLOWAY MARGARET
REGION CODE ADDRESS : 2531 WINSLOW COURT
02 CITY : WALDORF
STATE/ZIP : MD 20603
MORTGAGE AMOUNT : 257,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,035.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,844.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007687577 MORTGAGORS: BAJAJ HARJIT
REGION CODE ADDRESS : 311 KIRKWOOD ROAD
02 CITY : MILLERSVILLE
STATE/ZIP : MD 21108
MORTGAGE AMOUNT : 269,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,809.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,905.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007687585 MORTGAGORS: WELLS CARLOTTA
ERTMAN ERIC
REGION CODE ADDRESS : 9301 GARDEN COURT
02 CITY : POTOMAC
STATE/ZIP : MD 20854
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,603.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,795.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007687593 MORTGAGORS: SWINSON EUGENE
REGION CODE ADDRESS : 2324 ALAVA COURT
02 CITY : WALDORF
STATE/ZIP : MD 20603
MORTGAGE AMOUNT : 228,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 228,284.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,657.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 93.30600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,276,600.00
P & I AMT: 8,985.91
UPB AMT: 1,274,722.92
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 4
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007687601 MORTGAGORS: MCPHAUL CHRISTOPHER
MCPHAUL KAREN
REGION CODE ADDRESS : 8612 FENWAY ROAD
02 CITY : BETHESDA
STATE/ZIP : MD 20817
MORTGAGE AMOUNT : 276,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,511.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,767.26 OUTSIDE CONV DATE :
LIFETIME RATE : 6.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007687619 MORTGAGORS: SOLA JUAN
SOLA LEDA
REGION CODE ADDRESS : 10345 SW 128 TERRACE
02 CITY : MIAMI
STATE/ZIP : FL 33176
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,564.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,123.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 93.75000
----------------------------------------------------------------
0 0007687627 MORTGAGORS: IP CHI
IP MARY
REGION CODE ADDRESS : 3116 ALHAMBRA CIRCLE
02 CITY : CORAL GABLES
STATE/ZIP : FL 33134
MORTGAGE AMOUNT : 418,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 417,295.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,745.96 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007687635 MORTGAGORS: GREENBERG LESTER
GREENBERG ELISA
REGION CODE ADDRESS : 13635 DEERING BAY DRIVE, #274
02 CITY : MIAMI
STATE/ZIP : FL 33158
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 649,056.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,600.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 68.42100
----------------------------------------------------------------
0 0007687643 MORTGAGORS: GREENBERG LESTER
GREENBERG ELISA
REGION CODE ADDRESS : 1609 HAMPTON COURT
02 CITY : SAFETY HARBOR
STATE/ZIP : FL 34695
MORTGAGE AMOUNT : 591,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 590,641.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,186.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 67.98800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,235,500.00
P & I AMT: 15,423.86
UPB AMT: 2,232,068.81
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 5
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007687650 MORTGAGORS: RUBIN ROBERT
RUBIN ELLYN
REGION CODE ADDRESS : 1245 HILLCREST FIELD DRIVE
02 CITY : CHESTERFIELD
STATE/ZIP : MO 63005
MORTGAGE AMOUNT : 285,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,153.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,948.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 85.00000
----------------------------------------------------------------
0 0007687676 MORTGAGORS: MCMENAMIN MICHAEL
MCMENAMIN KRISTAM
REGION CODE ADDRESS : 3402 21ST AVENUE NORTH
02 CITY : ARLINGTON
STATE/ZIP : VA 22207
MORTGAGE AMOUNT : 239,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,533.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,656.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0007687684 MORTGAGORS: HUTTON ROBIN
REGION CODE ADDRESS : 11597 SUMAC LANE
02 CITY : CAMARILLO AREA
STATE/ZIP : CA 93012
MORTGAGE AMOUNT : 472,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 471,314.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,340.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007687692 MORTGAGORS: FLINT BRIAN
FLINT PAULA
REGION CODE ADDRESS : 119 HIGHGROVE LANE
02 CITY : CHESTERFIELD
STATE/ZIP : MO 63005
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,636.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,706.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007687718 MORTGAGORS: WILLIAMS PAUL
REGION CODE ADDRESS : 8545 FRANKLIN AVENUE
02 CITY : LOS ANGELES
STATE/ZIP : CA 90069
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 649,102.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,712.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 68.42100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,891,500.00
P & I AMT: 13,365.05
UPB AMT: 1,888,740.56
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 6
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007687726 MORTGAGORS: TUDMAN THOMAS
TUDMAN PATTY
REGION CODE ADDRESS : 3621 SANDPIPER COURT
02 CITY : WESTLAKE VILLAGE
STATE/ZIP : CA 91361
MORTGAGE AMOUNT : 456,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 455,028.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,266.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007687734 MORTGAGORS: HANDS CRAIG
HANDS SHIRLEY
REGION CODE ADDRESS : 631 13TH STREET
02 CITY : MANHATTAN BEACH
STATE/ZIP : CA 90266
MORTGAGE AMOUNT : 546,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 545,761.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,965.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 76.48900
----------------------------------------------------------------
0 0007687742 MORTGAGORS: STAGG BARRY
STAGG ENID
REGION CODE ADDRESS : 6049 LAKE LINDERO DRIVE
02 CITY : AGOURA HILLS
STATE/ZIP : CA 91301
MORTGAGE AMOUNT : 446,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 445,302.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,042.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007687759 MORTGAGORS: DEUTSCH BEVERLY
REGION CODE ADDRESS : 6036 RHODES AVENUE
02 CITY : LOS ANGELES
STATE/ZIP : CA 91606
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,580.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,204.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007687767 MORTGAGORS: TRALLA DAVID
TRALLA LUCY
REGION CODE ADDRESS : 19322 SUPERIOR STREET
02 CITY : LOS ANGELES
STATE/ZIP : CA 91324
MORTGAGE AMOUNT : 279,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,594.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,974.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 71.53800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,031,900.00
P & I AMT: 14,453.70
UPB AMT: 2,028,266.76
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 7
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007687783 MORTGAGORS: GALLUP AUGUSTUS
GALLUP VIVIEN
REGION CODE ADDRESS : 8029 KENTWOOD AVENUE
02 CITY : LOS ANGELES
STATE/ZIP : CA 90045
MORTGAGE AMOUNT : 372,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 371,417.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,537.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007687791 MORTGAGORS: NIEMI BRIAN
BADER RENEE
REGION CODE ADDRESS : 831 PLEASANT DALE PLACE
02 CITY : THOUSAND OAKS
STATE/ZIP : CA 91362
MORTGAGE AMOUNT : 449,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 448,567.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,105.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007687809 MORTGAGORS: SHILEY-KUKURUDA CHRISTINA
REGION CODE ADDRESS : 3865 PASEO DE LAS TORTUGAS
02 CITY : TORRANCE
STATE/ZIP : CA 90505
MORTGAGE AMOUNT : 434,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 433,400.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,146.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007687825 MORTGAGORS: DEMOTT BRETT
DEMOTT KAROLYN
REGION CODE ADDRESS : 33819 AGUA DULCE CANYON ROAD
02 CITY : AGUA DULCE AREA
STATE/ZIP : CA 91350
MORTGAGE AMOUNT : 251,960.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,594.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,783.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007687965 MORTGAGORS: KONDOROSSY COLOMAN
KONDOROSSY LINDA
REGION CODE ADDRESS : 44 ASTER COURT
02 CITY : MONTGOMERY
STATE/ZIP : NJ 08558
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,551.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,356.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 58.03500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,832,560.00
P & I AMT: 12,929.62
UPB AMT: 1,829,531.20
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 8
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007688039 MORTGAGORS: FERRARA JOSEPH
FERRARA SUSAN
REGION CODE ADDRESS : 7952 TALAVERA PLACE
02 CITY : DELRAY BEACH
STATE/ZIP : FL 33446
MORTGAGE AMOUNT : 475,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 474,327.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,402.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 74.62200
----------------------------------------------------------------
0 0007688054 MORTGAGORS: BARGFELDT JOHN
BARGFELDT BARBARA
REGION CODE ADDRESS : 10709 AUGUSTA BOULEVARD
02 CITY : FISHERS
STATE/ZIP : IN 46038
MORTGAGE AMOUNT : 247,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,340.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,753.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
0 0007688088 MORTGAGORS: SHALEK MARC
SHALEK KAREN
REGION CODE ADDRESS : 5916 ORCHARD PARK DRIVE
02 CITY : FRISCO
STATE/ZIP : TX 75034
MORTGAGE AMOUNT : 496,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 494,979.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,516.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 04/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007688112 MORTGAGORS: BASS DANIEL
BASS ROSE
REGION CODE ADDRESS : 4883 FALLCREST CIRCLE
02 CITY : SARASOTA
STATE/ZIP : FL 34233
MORTGAGE AMOUNT : 254,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 225,131.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,844.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 12/01/27
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007688138 MORTGAGORS: HOFF STEVEN
KENT SHEILA
REGION CODE ADDRESS : 5416 ASHLEY PARKWAY
02 CITY : SARASOTA
STATE/ZIP : FL 34241
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,359.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,034.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 01/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,757,900.00
P & I AMT: 12,551.69
UPB AMT: 1,724,138.07
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 9
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007688161 MORTGAGORS: FINNERTY DONALD
REGION CODE ADDRESS : 4517 SHILOH RIDGE TRAIL
02 CITY : LITHONIA
STATE/ZIP : GA 30058
MORTGAGE AMOUNT : 247,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,832.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,730.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 01/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007688179 MORTGAGORS: FOSTER JOHN
REGION CODE ADDRESS : 549 EAST WESLEY ROAD
02 CITY : ATLANTA
STATE/ZIP : GA 30305
MORTGAGE AMOUNT : 328,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 326,254.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,212.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 01/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007688229 MORTGAGORS: REGAL BARRY
REGAL KELLY
REGION CODE ADDRESS : 2576 BIRCHWOOD DRIVE
02 CITY : ATLANTA
STATE/ZIP : GA 30305
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,643.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,664.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 02/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007688260 MORTGAGORS: BERMUDEZ LUIS
BERMUDEZ JALENE
REGION CODE ADDRESS : 515 TELFORD PLACE
02 CITY : ATLANTA
STATE/ZIP : GA 30342
MORTGAGE AMOUNT : 550,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 547,984.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,892.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 04/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 73.33300
----------------------------------------------------------------
0 0007688278 MORTGAGORS: BASAGOITIA JOSE
REGION CODE ADDRESS : 317 JACARANDA DRIVE
02 CITY : PLANTATION
STATE/ZIP : FL 33324
MORTGAGE AMOUNT : 251,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,892.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,776.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 03/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 83.66600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,620,900.00
P & I AMT: 11,277.02
UPB AMT: 1,612,606.66
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 10
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007688302 MORTGAGORS: RUSTON JAMES
RUSTON PANOREA
REGION CODE ADDRESS : 1809 KELLY CT
02 CITY : DARIEN
STATE/ZIP : IL 60561
MORTGAGE AMOUNT : 510,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 509,256.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,568.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007688336 MORTGAGORS: ESCHBACHER G
HERRINGTON M
REGION CODE ADDRESS : 1415 W OTH AVENUE
02 CITY : ANCHORAGE
STATE/ZIP : AK 99501
MORTGAGE AMOUNT : 520,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 518,463.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,591.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007688351 MORTGAGORS: JACINTO DAVID
JACINTO ANNE
REGION CODE ADDRESS : 219 MEADOW VISTA WAY
02 CITY : ENCINITAS
STATE/ZIP : CA 92024
MORTGAGE AMOUNT : 282,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,834.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,927.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 56.50000
----------------------------------------------------------------
0 0007688369 MORTGAGORS: KAPP LAWRENCE
KAPP MARLA
REGION CODE ADDRESS : 14009 CHESTNUT HILL LANE
02 CITY : SAN DIEGO
STATE/ZIP : CA 92128
MORTGAGE AMOUNT : 238,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,924.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,623.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.67700
----------------------------------------------------------------
0 0007688393 MORTGAGORS: SNELL JAMES
SNELL NANCY
REGION CODE ADDRESS : 3828 SOUTHWESTERN BLVD
02 CITY : DALLAS
STATE/ZIP : TX 75225
MORTGAGE AMOUNT : 585,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 584,128.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,090.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 59.39000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,135,900.00
P & I AMT: 14,801.46
UPB AMT: 2,130,608.81
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 11
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007688401 MORTGAGORS: MCCURDY BRUCE
MCCURDY RHONDA
REGION CODE ADDRESS : 211 SOUTH OLD BRIDGE ROAD
02 CITY : ANAHEIM
STATE/ZIP : CA 92808
MORTGAGE AMOUNT : 407,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 406,017.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,742.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 70.78200
----------------------------------------------------------------
0 0007688419 MORTGAGORS: HENDRICKSON CAREY
HENDRICKSON STACIE
REGION CODE ADDRESS : 4106 CARNATION DRIVE
02 CITY : DALWORTHINGTON GARDENS
STATE/ZIP : TX 76016
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,320.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,044.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007688427 MORTGAGORS: TACHER MARIO
TACHER YELENA
REGION CODE ADDRESS : 2468 PROVENCE CIRCLE
02 CITY : WESTON
STATE/ZIP : FL 33327
MORTGAGE AMOUNT : 425,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 423,166.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,008.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 77.85300
----------------------------------------------------------------
0 0007688435 MORTGAGORS: QUEIOR STEPHEN
REGION CODE ADDRESS : 4111 NE 28TH AVENUE
02 CITY : FORT LAUDERDALE
STATE/ZIP : FL 33308
MORTGAGE AMOUNT : 260,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,133.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,840.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 04/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007688450 MORTGAGORS: CHALLIS LARRY
CHALLIS WENDY
REGION CODE ADDRESS : 8140 SHELBORNE DRIVE
02 CITY : GRANITE BAY
STATE/ZIP : CA 95746
MORTGAGE AMOUNT : 364,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 363,952.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,581.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 55.85700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,752,850.00
P & I AMT: 12,217.23
UPB AMT: 1,747,590.46
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 12
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007688476 MORTGAGORS: DOGGETT DAN
MUNOZ CATHERINE
REGION CODE ADDRESS : 26195 ALAMEDA AVENUE
02 CITY : LAGUNA HILL
STATE/ZIP : CA 92653
MORTGAGE AMOUNT : 237,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,541.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,617.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 83.78000
----------------------------------------------------------------
0 0007688500 MORTGAGORS: MC CLAIN JAMES
MALLORCA ROMMELL
REGION CODE ADDRESS : 746 FEATHER SOUND DRIVE
02 CITY : BOLINGBROOK
STATE/ZIP : IL 60440
MORTGAGE AMOUNT : 242,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,392.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,713.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 85.54700
----------------------------------------------------------------
0 0007688518 MORTGAGORS: RAPP CARL
RAPP SANDRA
REGION CODE ADDRESS : 54 SILO HILL ROAD
02 CITY : RICHBORO
STATE/ZIP : PA 18954
MORTGAGE AMOUNT : 331,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 330,775.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,346.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 85.00000
----------------------------------------------------------------
0 0007688559 MORTGAGORS: COTTRELL MICHAEL
COTTRELL MARY
REGION CODE ADDRESS : 8436 MEADOWBROOK DRIVE
02 CITY : FORT WORTH
STATE/ZIP : TX 76120
MORTGAGE AMOUNT : 420,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 418,273.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,936.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 04/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007688575 MORTGAGORS: KELLY JOHN
KELLY GAIL
REGION CODE ADDRESS : 97 COBURN COURT
02 CITY : SAN JOSE
STATE/ZIP : CA 95139
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,166.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,017.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,515,700.00
P & I AMT: 10,631.28
UPB AMT: 1,511,149.90
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 13
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007688633 MORTGAGORS: WOLFORD PHILLIP
WOLFORD CHERYL
REGION CODE ADDRESS : 13 FOREMOST MNTN ROAD
02 CITY : TOWACO
STATE/ZIP : NJ 07082
MORTGAGE AMOUNT : 297,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,443.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,154.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 77.80100
----------------------------------------------------------------
0 0007688641 MORTGAGORS: VALINOTI KENNETH
VALINOTI LEANA
REGION CODE ADDRESS : 1408 BERNAL AVENUE
02 CITY : BURLINGAME
STATE/ZIP : CA 94010
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,343.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,123.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 57.14200
----------------------------------------------------------------
0 0007688666 MORTGAGORS: DENNY DENNIS
DENNY KIMBERLY
REGION CODE ADDRESS : 19 ROYALE COURT
02 CITY : LAKE ST, LOUIS
STATE/ZIP : MO 63367
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,125.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,831.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 78.43100
----------------------------------------------------------------
0 0007688674 MORTGAGORS: FELAHY BASIL
AZAWI HAIFA
REGION CODE ADDRESS : 4236 COUNTRY CLUB DR
02 CITY : LONG BEACH
STATE/ZIP : CA 90807
MORTGAGE AMOUNT : 626,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 625,789.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,435.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 65.89900
----------------------------------------------------------------
0 0007688690 MORTGAGORS: OSTHOFF ANDREAS
OSTHOFF HEIDI
REGION CODE ADDRESS : 1911 SEVEN SEAS COURT
02 CITY : ALPHARETTA
STATE/ZIP : GA 30005
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,709.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,832.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 04/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,895,900.00
P & I AMT: 13,377.75
UPB AMT: 1,890,411.49
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 14
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007688716 MORTGAGORS: RIDDLES JULI
REGION CODE ADDRESS : 355 W LINDEN AVENUE
02 CITY : BURBANK
STATE/ZIP : CA 91506
MORTGAGE AMOUNT : 303,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 302,568.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,043.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007688757 MORTGAGORS: MCCAULEY PATRICK
MCCAULEY LISA
REGION CODE ADDRESS : 4004 NE 22ND AVENUE
02 CITY : FT LAUDERDALE
STATE/ZIP : FL 33308
MORTGAGE AMOUNT : 267,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,179.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,844.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 63.27000
----------------------------------------------------------------
0 0007688765 MORTGAGORS: ZENDER CHRISTOPHER
ZENDER KIMBERLY
REGION CODE ADDRESS : 1044 EGRET COURT
02 CITY : WESTERVILLE
STATE/ZIP : OH 43082
MORTGAGE AMOUNT : 254,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,815.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,757.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007688799 MORTGAGORS: BRUSH DAVID
BRUSH LISA
REGION CODE ADDRESS : 1877 MUIRFIELD WAY
02 CITY : OLDSMAR
STATE/ZIP : FL 34677
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,361.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,992.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.02500
----------------------------------------------------------------
0 0007688807 MORTGAGORS: BRANDT KENNETH
BRANDT MARY
REGION CODE ADDRESS : 17973 SAPONI COURT
02 CITY : SAN DIEGO
STATE/ZIP : CA 92127
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,395.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,887.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,379,700.00
P & I AMT: 9,525.23
UPB AMT: 1,376,320.06
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 15
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007688815 MORTGAGORS: FOLEY JAMES
REGION CODE ADDRESS : 7640 BRIGHAM DR
02 CITY : DUNWOODY
STATE/ZIP : GA 30350
MORTGAGE AMOUNT : 289,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 288,918.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,975.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007688823 MORTGAGORS: PRICE DAVID
PRICE MARCIA
REGION CODE ADDRESS : 6460 STERLING DRIVE
02 CITY : SUWANEE
STATE/ZIP : GA 30024
MORTGAGE AMOUNT : 256,025.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,218.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,746.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007688849 MORTGAGORS: RAE THOMAS
HOLMAN SHARON
REGION CODE ADDRESS : 16011 CHALFONT PLACE
02 CITY : DALLAS
STATE/ZIP : TX 75248
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,329.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,016.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007688864 MORTGAGORS: EDMONDS CHRISTOPHER
EDMONDS MARY
REGION CODE ADDRESS : 9460 LAKE SERENA DRIVE
02 CITY : BOCA RATON
STATE/ZIP : FL 33496
MORTGAGE AMOUNT : 235,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,221.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,563.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 92.33700
----------------------------------------------------------------
0 0007688872 MORTGAGORS: CHAVEZ ALBERT
CHAVEZ JULIE
REGION CODE ADDRESS : 17281 LA MESA LANE
02 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92647
MORTGAGE AMOUNT : 251,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,234.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,780.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.36900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,324,225.00
P & I AMT: 9,083.20
UPB AMT: 1,320,922.75
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 16
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007688880 MORTGAGORS: CANSLER VICKI
REGION CODE ADDRESS : 113 DICKENS DRIVE
02 CITY : COPPELL
STATE/ZIP : TX 75019
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,184.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,901.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007688898 MORTGAGORS: MCCLOY STEPHEN
MCCLOY KAREN
REGION CODE ADDRESS : 21 HART PLACE A
02 CITY : DIX HILLS
STATE/ZIP : NY 11743
MORTGAGE AMOUNT : 388,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 385,577.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,581.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007688906 MORTGAGORS: APREA MARC
APREA SHARON
REGION CODE ADDRESS : 171 TOMLINSON DRIVE
02 CITY : FOLSOM
STATE/ZIP : CA 95630
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 326,967.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 84.75400
----------------------------------------------------------------
0 0007688914 MORTGAGORS: MINANO DENNIS
MINANO MARTHA
REGION CODE ADDRESS : 37 KINGSLEY MANOR
02 CITY : BLOOMFIELD
STATE/ZIP : MI 48304
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,344.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,123.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 70.58800
----------------------------------------------------------------
0 0007688922 MORTGAGORS: LEHMANN CORINNE
CALDERAS JON
REGION CODE ADDRESS : 818 FAIR OAKS AVE
02 CITY : OAK PARK
STATE/ZIP : IL 60302
MORTGAGE AMOUNT : 299,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 298,826.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,143.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,587,250.00
P & I AMT: 10,988.05
UPB AMT: 1,581,899.93
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 17
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007688930 MORTGAGORS: BURKE TIMOTHY
REGION CODE ADDRESS : 32651 VALENTINO WAY
02 CITY : TEMECULA
STATE/ZIP : CA 92592
MORTGAGE AMOUNT : 328,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 328,149.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,355.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0007688948 MORTGAGORS: MCALLISTER MARVIN
MCALLISTER PATRICIA
REGION CODE ADDRESS : 5508 LINCOLN ROAD
02 CITY : MARTINSVILLE
STATE/ZIP : IN 46151
MORTGAGE AMOUNT : 267,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,017.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,845.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 70.30200
----------------------------------------------------------------
0 0007688955 MORTGAGORS: WEISS RONALD
WEISS KELLIE
REGION CODE ADDRESS : 279 MERRITT DRIVE
02 CITY : ORADELL
STATE/ZIP : NJ 07649
MORTGAGE AMOUNT : 299,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,061.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,147.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007688971 MORTGAGORS: MEADOWS ARLIN
MEADOWS CARLA
REGION CODE ADDRESS : 5906 FLINTSHIRE COURT
02 CITY : DALLAS
STATE/ZIP : TX 75252
MORTGAGE AMOUNT : 287,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,834.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,841.53 OUTSIDE CONV DATE :
LIFETIME RATE : 6.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 6.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007688997 MORTGAGORS: JONES IRVIN
JONES THERESA
REGION CODE ADDRESS : 11529 NORTHDALE DRIVE
02 CITY : MOORPARK
STATE/ZIP : CA 93021
MORTGAGE AMOUNT : 246,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 150,755.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,783.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 71.30434
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,429,300.00
P & I AMT: 9,973.37
UPB AMT: 1,330,817.59
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 18
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007689003 MORTGAGORS: MOONEY DOUGLAS
MOONEY GRACE
REGION CODE ADDRESS : 9402 STUDLEY PLANTATION DRIVE
02 CITY : MECHANICSVILLE
STATE/ZIP : VA 23116
MORTGAGE AMOUNT : 294,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 293,357.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,084.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007689011 MORTGAGORS: POLAN EDWARD
POLAN JEANNE
REGION CODE ADDRESS : 54591 COVENTRY LANE
02 CITY : SHELBY TWP
STATE/ZIP : MI 48315
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,565.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,041.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007689029 MORTGAGORS: NIEWOLD CHARLES
NIEWOLD LAURA
REGION CODE ADDRESS : 3607 HAMPTON AVENUE
02 CITY : NASHVILLE
STATE/ZIP : TN 37215
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,319.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,937.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007689037 MORTGAGORS: DARANCOU DANIEL
DARANCOU JANAN
REGION CODE ADDRESS : 6490 SHORELINE DRIVE
02 CITY : TROY
STATE/ZIP : MI 48098
MORTGAGE AMOUNT : 249,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,974.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,724.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.26900
----------------------------------------------------------------
0 0007689045 MORTGAGORS: EDDY CRAIG
EDDY JULIA
REGION CODE ADDRESS : 91 SHORE DRIVE
02 CITY : DENNIS
STATE/ZIP : MA 02638
MORTGAGE AMOUNT : 305,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 304,366.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,211.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 79.22000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,425,200.00
P & I AMT: 9,999.65
UPB AMT: 1,417,582.01
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 19
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007689052 MORTGAGORS: PITTEWAY CYNTHIA
PITTEWAY LAURENCE
REGION CODE ADDRESS : 15 STONY LANE
02 CITY : NORWALK
STATE/ZIP : CT 06850
MORTGAGE AMOUNT : 396,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 395,090.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,735.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007689060 MORTGAGORS: CHABRA THOMAS
RUSSEVA KETTY
REGION CODE ADDRESS : 23 RAMAPO MOUNTAIN DRIVE
02 CITY : WANAQUE
STATE/ZIP : NJ 07465
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,645.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,727.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007689086 MORTGAGORS: MARIANO ROBERT
ROBLES JENNIFER
REGION CODE ADDRESS : 4366 CORNELL WAY
02 CITY : LIVERMORE
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 261,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,063.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,829.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 91.80700
----------------------------------------------------------------
0 0007689110 MORTGAGORS: BREWER JOE
BREWER SANDRA
REGION CODE ADDRESS : 904 HILLCREST TRAIL
02 CITY : SOUTHLAKE
STATE/ZIP : TX 76092
MORTGAGE AMOUNT : 239,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,247.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,630.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.93300
----------------------------------------------------------------
0 0007689128 MORTGAGORS: KLOTT KEVIN
KLOTT ELIZABETH
REGION CODE ADDRESS : 3327 W YORK COURT
02 CITY : OAKLAND TWP
STATE/ZIP : MI 48306
MORTGAGE AMOUNT : 242,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,584.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,734.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,382,750.00
P & I AMT: 9,656.45
UPB AMT: 1,379,631.36
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 20
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007689136 MORTGAGORS: MC INTYRE TRACEY
REGION CODE ADDRESS : 1101 W ARMITAGE, 203
02 CITY : CHICAGO
STATE/ZIP : IL 60614
MORTGAGE AMOUNT : 259,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,783.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,835.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007689151 MORTGAGORS: PARITEE MICHAEL
PARITEE KAREN
REGION CODE ADDRESS : 24 SOUTH WHITE PINE LANE
02 CITY : MANSFIELD
STATE/ZIP : MA 02048
MORTGAGE AMOUNT : 238,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,618.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,603.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 82.63800
----------------------------------------------------------------
0 0007689177 MORTGAGORS: WOLFRAMSKI DENNIS
REGION CODE ADDRESS : 1225 1229 PAGE STREET
02 CITY : SAN FRANCISCO
STATE/ZIP : CA 94117
MORTGAGE AMOUNT : 416,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 415,213.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,981.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 58.60500
----------------------------------------------------------------
0 0007689193 MORTGAGORS: HARRIS ELLIOT
REGION CODE ADDRESS : 41 WILLETS POND PATH
02 CITY : ROSLYN
STATE/ZIP : NY 11576
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,747.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,377.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007689219 MORTGAGORS: GUARD RHONDA
REGION CODE ADDRESS : 409 SOUTHRIDGE LAKES PARKWAY
02 CITY : SOUTHLAKE
STATE/ZIP : TX 76092
MORTGAGE AMOUNT : 249,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,586.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,618.90 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,503,050.00
P & I AMT: 10,416.36
UPB AMT: 1,499,948.77
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 21
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007689227 MORTGAGORS: ROZELLE KENT
ROZELLE KATHY
REGION CODE ADDRESS : 10981 N HONEYBEE PLACE
02 CITY : TUCSON
STATE/ZIP : AZ 85737
MORTGAGE AMOUNT : 233,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,412.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,615.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.98000
----------------------------------------------------------------
0 0007689243 MORTGAGORS: ALLEN JERRY
ALLEN GATHIE
REGION CODE ADDRESS : 4400 QUICKSILVER COURT
02 CITY : HAYWARD
STATE/ZIP : CA 94542
MORTGAGE AMOUNT : 331,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,095.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,320.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 77.17400
----------------------------------------------------------------
0 0007689250 MORTGAGORS: DICK DAVID
DICK GLORIA
REGION CODE ADDRESS : 5909 QUINTA REAL COURT
02 CITY : EL PASO
STATE/ZIP : TX 79912
MORTGAGE AMOUNT : 257,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,878.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,734.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 73.57100
----------------------------------------------------------------
0 0007689268 MORTGAGORS: OFFORD KEITH
OFFORD BARBARA
REGION CODE ADDRESS : 28422 CAMINO LA RONDA
02 CITY : SAN JUAN CAPISTRANO
STATE/ZIP : CA 92675
MORTGAGE AMOUNT : 425,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 423,948.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,827.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.97800
----------------------------------------------------------------
0 0007689300 MORTGAGORS: LEDDY MARK
LEDDY BARBARA
REGION CODE ADDRESS : 223 BEACON BOULEVARD
02 CITY : SEA GIRT
STATE/ZIP : NJ 08750
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,593.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,981.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 69.13500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,528,300.00
P & I AMT: 10,480.39
UPB AMT: 1,524,928.80
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 22
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007689318 MORTGAGORS: OLOFSON CHRISTINE
OLOFSON DAVID
REGION CODE ADDRESS : 1 TEMPLAR PL
02 CITY : OAKLAND
STATE/ZIP : CA 94618
MORTGAGE AMOUNT : 269,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,350.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,812.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 66.74900
----------------------------------------------------------------
0 0007689334 MORTGAGORS: FOLEY STEVEN
FOLEY D
REGION CODE ADDRESS : 10647 HOOSIER ROAD
02 CITY : FISHERS
STATE/ZIP : IN 46038
MORTGAGE AMOUNT : 604,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 603,396.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,281.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 78.05800
----------------------------------------------------------------
0 0007689342 MORTGAGORS: LEE WILLIAM
LEE LISA
REGION CODE ADDRESS : 12446 STANWOOD PLACE
02 CITY : LOS ANGELES
STATE/ZIP : CA 90066
MORTGAGE AMOUNT : 327,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 326,559.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,399.42 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 82.78400
----------------------------------------------------------------
0 0007689359 MORTGAGORS: BERKOVICH IGOR
BERKOVICH ANN
REGION CODE ADDRESS : 9980 BANKSIDE DRIVE
02 CITY : ROSWELL
STATE/ZIP : GA 30076
MORTGAGE AMOUNT : 392,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 391,399.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,646.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007689383 MORTGAGORS: ERB PAUL
BELT BARBARA
REGION CODE ADDRESS : 601 QUINTANA ROO
02 CITY : SEABROOK
STATE/ZIP : TX 77586
MORTGAGE AMOUNT : 376,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 375,092.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,533.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,969,750.00
P & I AMT: 13,673.08
UPB AMT: 1,964,798.51
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 23
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007689391 MORTGAGORS: TAYLOR ERROL
TAYLOR PAULA
REGION CODE ADDRESS : 23 GLACIER DRIVE
02 CITY : WEST WINDSOR
STATE/ZIP : NJ 08648
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,328.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,256.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007689409 MORTGAGORS: HUNTER WILLIAM
HUNTER KATHLEEN
REGION CODE ADDRESS : 5 COURAGEOUS CIRCLE
02 CITY : BRISTOL
STATE/ZIP : RI 02809
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,220.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,945.80 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 43.79500
----------------------------------------------------------------
0 0007689417 MORTGAGORS: ALLISS RITA
SCOTT KIMBERLY
REGION CODE ADDRESS : 1435 W ROSCOE
02 CITY : CHICAGO
STATE/ZIP : IL 60657
MORTGAGE AMOUNT : 510,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 508,913.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,653.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 72.85700
----------------------------------------------------------------
0 0007689433 MORTGAGORS: HAMILTON MICK
HAMILTON CHRISTINE
REGION CODE ADDRESS : 830 & 830 1/2 G AVENUE
02 CITY : CORONADO
STATE/ZIP : CA 92118
MORTGAGE AMOUNT : 428,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 427,041.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,992.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007689458 MORTGAGORS: GUBERMAN STEVEN
GUBERMAN CHERYL
REGION CODE ADDRESS : 3047 VERANDA LANE
02 CITY : CORONA
STATE/ZIP : CA 91720
MORTGAGE AMOUNT : 246,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,474.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,855.26 OUTSIDE CONV DATE :
LIFETIME RATE : 8.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 8.25000 PRODUCT CODE : 002
LTV : 94.58800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,799,950.00
P & I AMT: 12,704.11
UPB AMT: 1,795,977.40
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 24
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007689474 MORTGAGORS: LAME JESSE
LAME JUDY
REGION CODE ADDRESS : 15305 SW LARK LANE
02 CITY : BEAVERTON
STATE/ZIP : OR 97007
MORTGAGE AMOUNT : 232,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 231,663.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,642.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 86.89100
----------------------------------------------------------------
0 0007689490 MORTGAGORS: CHICKLES COLIN
REGION CODE ADDRESS : 357 COMMERCIAL STREET,420
02 CITY : BOSTON
STATE/ZIP : MA 02116
MORTGAGE AMOUNT : 255,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,005.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,830.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007689508 MORTGAGORS: MENHOLT DENNIS
MENHOLT LINDA
REGION CODE ADDRESS : 10445 QUARTZ ROCK ROAD
02 CITY : SCOTTSDALE
STATE/ZIP : AZ 85008
MORTGAGE AMOUNT : 588,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 586,759.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,538.28 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/23
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 84.00000
----------------------------------------------------------------
0 0007689532 MORTGAGORS: HOFFORD JOHN
REGION CODE ADDRESS : 330 MIDDLE STREET
02 CITY : MOUNT PLEASANT
STATE/ZIP : SC 29464
MORTGAGE AMOUNT : 410,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 409,389.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,866.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 54.66600
----------------------------------------------------------------
0 0007689540 MORTGAGORS: DRISCOLL JOHN
DRISCOLL MONIQUE
REGION CODE ADDRESS : 4717 TORREY PINES DRIVE
02 CITY : CHINO HILLS
STATE/ZIP : CA 91709
MORTGAGE AMOUNT : 269,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,172.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,072.23 OUTSIDE CONV DATE :
LIFETIME RATE : 8.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 8.50000 PRODUCT CODE : 002
LTV : 89.97700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,755,050.00
P & I AMT: 12,950.18
UPB AMT: 1,751,989.63
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 25
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007689581 MORTGAGORS: OLIVA NANCY
LYON MICHAEL
REGION CODE ADDRESS : 8513 RIVER OAKS DRIVE
02 CITY : OAKDALE
STATE/ZIP : CA 95361
MORTGAGE AMOUNT : 310,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,821.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,197.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007689599 MORTGAGORS: KAUFMAN PETER
REGION CODE ADDRESS : TWO BRATENAHL PLACE 11-BC
02 CITY : BRATENAHL
STATE/ZIP : OH 44108
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,456.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,043.09 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007689607 MORTGAGORS: MEYERS ANTHONY
MEYERS ARLENE
REGION CODE ADDRESS : 671 KENNEDY DRIVE
02 CITY : WASHINGTON TWP.
STATE/ZIP : NJ 07675
MORTGAGE AMOUNT : 242,675.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,304.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,676.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.53700
----------------------------------------------------------------
0 0007689615 MORTGAGORS: PERIAS EDWIN
PERIAS MELINDA
REGION CODE ADDRESS : 2353 AMELIA ISLAND DRIVE
02 CITY : CHULA VISTA
STATE/ZIP : CA 91915
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,397.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,746.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.82400
----------------------------------------------------------------
0 0007689623 MORTGAGORS: NEWBERRY DONNIE
NEWBERRY JENNIFER
REGION CODE ADDRESS : 193 E FLAT TOP LAKE
02 CITY : FLAT TOP
STATE/ZIP : WV 25841
MORTGAGE AMOUNT : 228,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 227,586.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,441.12 OUTSIDE CONV DATE :
LIFETIME RATE : 6.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,352,175.00
P & I AMT: 9,104.39
UPB AMT: 1,349,565.98
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 26
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007689631 MORTGAGORS: WARNINGER RONALD
REGION CODE ADDRESS : 708 FAIRWAY DRIVE
02 CITY : YAKIMA
STATE/ZIP : WA 98901
MORTGAGE AMOUNT : 484,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 482,322.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,936.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/18
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 84.99500
----------------------------------------------------------------
0 0007689649 MORTGAGORS: GREEN JEFFREY
GREEN LINDA
REGION CODE ADDRESS : 14301 KENMONT DRIVE
02 CITY : MIDLOTHIAN
STATE/ZIP : VA 23113
MORTGAGE AMOUNT : 394,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 393,508.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,994.69 OUTSIDE CONV DATE :
LIFETIME RATE : 8.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 8.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007689656 MORTGAGORS: WHITTLE ALBERT
WHITTLE NELL
REGION CODE ADDRESS : 9210 STOCKTON ROAD
02 CITY : MOORPARK
STATE/ZIP : CA 93021
MORTGAGE AMOUNT : 366,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 365,881.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,624.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007689664 MORTGAGORS: SPHAR RICHARD
SPHAR GAIL
REGION CODE ADDRESS : 4127 OXFORD GLEN DRIVE
02 CITY : FRANKLIN
STATE/ZIP : TN 37067
MORTGAGE AMOUNT : 259,920.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,532.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,817.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.97500
----------------------------------------------------------------
0 0007689680 MORTGAGORS: GREEN GERALD
GREEN VIRGINIA
REGION CODE ADDRESS : 2005 BRISTLECONE COURT
02 CITY : SANTA ROSA
STATE/ZIP : CA 95403
MORTGAGE AMOUNT : 336,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,247.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,349.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,840,370.00
P & I AMT: 13,722.96
UPB AMT: 1,836,492.21
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 27
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007689706 MORTGAGORS: MAGNACCA SCOTT
REGION CODE ADDRESS : 4 RUSTIC DRIVE
02 CITY : NORTH BRUNSWICK
STATE/ZIP : NJ 08902
MORTGAGE AMOUNT : 247,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,486.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,790.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007689714 MORTGAGORS: EVENHAIM NISSIM
EVENHAIM ETI
REGION CODE ADDRESS : 4047 FALLING LEAF DRIVE
02 CITY : ENCINO
STATE/ZIP : CA 91316
MORTGAGE AMOUNT : 603,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 601,580.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,113.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 49.67000
----------------------------------------------------------------
0 0007689730 MORTGAGORS: WRIGHT GERALD
WRIGHT BARBARA
REGION CODE ADDRESS : 3400 LOWRY ROAD
02 CITY : LOS ANGELES
STATE/ZIP : CA 90027
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,395.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,887.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 50.00000
----------------------------------------------------------------
0 0007689748 MORTGAGORS: SMITH ERIC
REGION CODE ADDRESS : 12981 STORMY POINT LANE
02 CITY : HARRISON
STATE/ZIP : ID 83833
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,965.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,317.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/18
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007689763 MORTGAGORS: WEATHERUP THOMAS
WEATHERUP KIM
REGION CODE ADDRESS : 960 RENAUD
02 CITY : GROSSE POINTE WOODS
STATE/ZIP : MI 48236
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,565.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,041.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,697,000.00
P & I AMT: 12,151.83
UPB AMT: 1,691,992.27
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 28
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007689771 MORTGAGORS: HALE JOHN
HALE CHARLOTTE
REGION CODE ADDRESS : 12431 ANCHORAGE WAY
02 CITY : FISHERS
STATE/ZIP : IN 46038
MORTGAGE AMOUNT : 318,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 317,980.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,147.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007689789 MORTGAGORS: KOSSAJDA LAWRENCE
KOSSAJDA NANCY
REGION CODE ADDRESS : 145 KNORRWOOD DR.
02 CITY : ROCHESTER
STATE/ZIP : MI 48306
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,433.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,865.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007689797 MORTGAGORS: HOWARD MILTON
HOWARD EDITH
REGION CODE ADDRESS : 10380 WILSHIRE BLVD 801
02 CITY : LOS ANGELES
STATE/ZIP : CA 90024
MORTGAGE AMOUNT : 369,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 368,303.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,490.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 27.58200
----------------------------------------------------------------
0 0007689813 MORTGAGORS: COOPER CURTIS
COOPER JIMMIE
REGION CODE ADDRESS : 1091 BLACK WOLF CT
02 CITY : FAIRVIEW HEIGHTS
STATE/ZIP : IL 62208
MORTGAGE AMOUNT : 238,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,865.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,666.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007689821 MORTGAGORS: ROTH TIMOTHY
REGION CODE ADDRESS : 405 MONROE STREET
02 CITY : DENVER
STATE/ZIP : CO 80206
MORTGAGE AMOUNT : 381,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 380,147.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,664.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 60.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,707,750.00
P & I AMT: 11,834.14
UPB AMT: 1,703,731.38
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 29
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007689839 MORTGAGORS: SUMMERS LARRY
SUMMERS KAREN
REGION CODE ADDRESS : 949 MOCHO STREET
02 CITY : LIVERMORE
STATE/ZIP : CA 94450
MORTGAGE AMOUNT : 236,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,506.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,676.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 89.37700
----------------------------------------------------------------
0 0007689847 MORTGAGORS: BJURMAN ROBERT
BJURMAN DEBORAH
REGION CODE ADDRESS : 9263 EVEE ROAD
02 CITY : CLARKSTON
STATE/ZIP : MI 48348
MORTGAGE AMOUNT : 265,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,233.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,925.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007689862 MORTGAGORS: MEEHLEIS RICK
MEEHLEIS MICHELLE
REGION CODE ADDRESS : 6113 NORMANDY COURT
02 CITY : FT COLLINS
STATE/ZIP : CO 80525
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 326,660.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,293.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007689888 MORTGAGORS: SCHMID FRANK
SCHMID JENNIFER
REGION CODE ADDRESS : 27827 RON RIDGE DR
02 CITY : SAUGUS
STATE/ZIP : CA 91350
MORTGAGE AMOUNT : 279,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,094.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,978.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 90.74600
----------------------------------------------------------------
0 0007689912 MORTGAGORS: WYNGAARDEN ROBERT
WYNGAARDEN TERESA
REGION CODE ADDRESS : 3698 POWDERHORN DRIVE
02 CITY : OKEMOS
STATE/ZIP : MI 48864
MORTGAGE AMOUNT : 387,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 386,179.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,839.67 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 78.97900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,496,950.00
P & I AMT: 10,713.59
UPB AMT: 1,493,673.43
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 30
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007689938 MORTGAGORS: GULESSERIAN ARA
GULESSERIAN ANDRANIK
REGION CODE ADDRESS : 1330 DAILY CIRCLE
02 CITY : GLENDALE
STATE/ZIP : CA 91208
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 379,148.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,689.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007689946 MORTGAGORS: WATKINS TODD
WATKINS DEBORAH
REGION CODE ADDRESS : 35 CRAIG LANE
02 CITY : MALVERN
STATE/ZIP : PA 19355
MORTGAGE AMOUNT : 284,780.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,800.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,104.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/23
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 76.34800
----------------------------------------------------------------
0 0007689953 MORTGAGORS: VIRISSIMO STEVE
VIRISSIMO CYNTHIA
REGION CODE ADDRESS : 6935 E CROCUS DRIVE
02 CITY : SCOTTSDALE
STATE/ZIP : AZ 85254
MORTGAGE AMOUNT : 241,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,410.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,689.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007689961 MORTGAGORS: DEARMOND CLARK
DEARMOND AURA
REGION CODE ADDRESS : 7330 MUSLO LANE
02 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 235,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,499.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,683.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 75.80600
----------------------------------------------------------------
0 0007689995 MORTGAGORS: ROJAS LUIS
REGION CODE ADDRESS : 7345 SW 157 TERRACE
02 CITY : MIAMI
STATE/ZIP : FL 33157
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,519.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,942.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,433,380.00
P & I AMT: 10,109.69
UPB AMT: 1,430,377.80
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 31
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007690050 MORTGAGORS: BOZELL WAYNE
BOZELL KAREN
REGION CODE ADDRESS : 19419 184TH STREET EAST
02 CITY : ORTING
STATE/ZIP : WA 98360
MORTGAGE AMOUNT : 261,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,861.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,826.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007690068 MORTGAGORS: FADEN BARRY
FADEN MARLENE
REGION CODE ADDRESS : 4637 TORREY PINES DRIVE
02 CITY : CHINO HILLS
STATE/ZIP : CA 91709
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,617.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,934.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.99900
----------------------------------------------------------------
0 0007690084 MORTGAGORS: PAULSON THOMAS
PAULSON MARGARET
REGION CODE ADDRESS : 990 CAPE MARCO DRIVE,1001
02 CITY : MARCO ISLAND
STATE/ZIP : FL 34145
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,414.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,896.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 65.36500
----------------------------------------------------------------
0 0007690092 MORTGAGORS: GOLDBERG PAUL
GOLDBERG JUDITH
REGION CODE ADDRESS : 3820 N 40TH AVENUE
02 CITY : HOLLYWOOD
STATE/ZIP : FL 33021
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,590.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,922.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 69.62000
----------------------------------------------------------------
0 0007690118 MORTGAGORS: KERNES ALAN
KERNES SUSAN SMITH
REGION CODE ADDRESS : 21886 TOWN PLACE DRIVE
02 CITY : BOCA RATON
STATE/ZIP : FL 33433
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,534.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,713.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.52500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,319,250.00
P & I AMT: 9,293.83
UPB AMT: 1,317,018.13
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 32
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007690126 MORTGAGORS: TAYLOR ROBERT
TAYLOR DAWN
REGION CODE ADDRESS : 32601 SE 16TH STREET
02 CITY : WASHOUGAL
STATE/ZIP : WA 98671
MORTGAGE AMOUNT : 301,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,790.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,056.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 70.94100
----------------------------------------------------------------
0 0007690134 MORTGAGORS: MARANTETTE THOMAS
WINN-MARANTETTE MARY
REGION CODE ADDRESS : 4733 NW PARK COURT
02 CITY : CAMAS
STATE/ZIP : WA 98607
MORTGAGE AMOUNT : 390,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 389,081.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,660.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 67.82600
----------------------------------------------------------------
0 0007690142 MORTGAGORS: PETERSON STEVEN
PETERSON ANDREA
REGION CODE ADDRESS : 2608 MEADOW HILLS LANE
02 CITY : PLANO
STATE/ZIP : TX 75093
MORTGAGE AMOUNT : 235,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,231.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,607.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007690159 MORTGAGORS: ANDERSON KIP
REGION CODE ADDRESS : 211 PARK YORK LANE
02 CITY : APEX
STATE/ZIP : NC 27502
MORTGAGE AMOUNT : 250,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,407.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,710.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007690167 MORTGAGORS: CONNELL RAYMOND
CONNELL ANITA
REGION CODE ADDRESS : 6333 SEWARD PARK AVENUE SOUTH
02 CITY : SEATTLE
STATE/ZIP : WA 98118
MORTGAGE AMOUNT : 598,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 596,693.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,232.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 74.56300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,775,900.00
P & I AMT: 12,267.98
UPB AMT: 1,772,203.96
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 33
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007690225 MORTGAGORS: DAVIS MICHAEL
DAVIS SHAWN
REGION CODE ADDRESS : 2628 CAPTAINS WALK
02 CITY : BRADLEY
STATE/ZIP : CA 93426
MORTGAGE AMOUNT : 251,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,885.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,778.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0007690241 MORTGAGORS: ANDERSON JOHN
ANDERSON SUSAN
REGION CODE ADDRESS : 6591 BRIDGE WATER DR.
02 CITY : WEST BLOOMFIELD
STATE/ZIP : MI 48322
MORTGAGE AMOUNT : 450,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 449,329.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,146.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 71.93700
----------------------------------------------------------------
0 0007690258 MORTGAGORS: HERNANDEZ RAFAEL
SANCHEZ CONSUELO
REGION CODE ADDRESS : 3049 NW 61ST STREET
02 CITY : BOCA RATON
STATE/ZIP : FL 33496
MORTGAGE AMOUNT : 456,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 455,003.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,227.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007690282 MORTGAGORS: ROMANO JOHN
ROMANO MARY
REGION CODE ADDRESS : 1776 ROSCOE TURNER TRAIL
02 CITY : DAYTONA BEACH
STATE/ZIP : FL 32124
MORTGAGE AMOUNT : 513,611.00 OPTION TO CONVERT :
UNPAID BALANCE : 510,810.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,137.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/18
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.01700
----------------------------------------------------------------
0 0007690316 MORTGAGORS: NEVILLE STEPHEN
NEVILLE CHARLENE
REGION CODE ADDRESS : 1270 VAILWOOD DRIVE
02 CITY : DANVILLE
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 392,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 392,079.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,844.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 84.19500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,063,211.00
P & I AMT: 15,134.78
UPB AMT: 2,058,109.58
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 34
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007690324 MORTGAGORS: MEIER GEORGE
MEIER-WONG RENIE
REGION CODE ADDRESS : 16 CARINA
02 CITY : IRVINE
STATE/ZIP : CA 92612
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,155.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,358.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 66.03700
----------------------------------------------------------------
0 0007690332 MORTGAGORS: BIDWELL JAMES
BIDWELL LAURA
REGION CODE ADDRESS : 2350 ORCHARD VIEW LN
02 CITY : ESCONDIDO
STATE/ZIP : CA 92027
MORTGAGE AMOUNT : 285,391.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,944.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,946.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99900
----------------------------------------------------------------
0 0007690357 MORTGAGORS: HILL DURWOOD
VEDRICH-HILL STACIE
REGION CODE ADDRESS : 588 HAWTHORNE
02 CITY : GLEN ELLYN
STATE/ZIP : IL 60137
MORTGAGE AMOUNT : 239,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,474.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,675.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 70.47000
----------------------------------------------------------------
0 0007690365 MORTGAGORS: CASEY JOHN
BUTCHER MARY
REGION CODE ADDRESS : 3864 VISTA LANE
02 CITY : ORCHARD LAKE
STATE/ZIP : MI 48323
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 648,957.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,379.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 38.23500
----------------------------------------------------------------
0 0007690373 MORTGAGORS: CLARK TIMOTHY
CLARK LYN
REGION CODE ADDRESS : 2308 NE 30TH COURT
02 CITY : LIGHTHOUSE POINT
STATE/ZIP : FL 33064
MORTGAGE AMOUNT : 306,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 305,314.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,139.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,830,991.00
P & I AMT: 12,498.99
UPB AMT: 1,825,845.87
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 35
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007690415 MORTGAGORS: DANIELS RICHARD
REGION CODE ADDRESS : 400 N FLAGLER DRIVE. 1106
02 CITY : WEST PALM BEACH
STATE/ZIP : FL 33401
MORTGAGE AMOUNT : 348,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 347,507.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,493.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007690423 MORTGAGORS: HULSEY S.
HULSEY AUDREY
REGION CODE ADDRESS : 655 MOUNTAINVIEW DRIVE
02 CITY : MISSOULA
STATE/ZIP : MT 59802
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,586.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,017.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007690431 MORTGAGORS: GILDER DEBORAH
REGION CODE ADDRESS : 4206 NEWCASTLE
02 CITY : ORION TOWNSHIP
STATE/ZIP : MI 48348
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,217.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,410.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007690449 MORTGAGORS: JENKINS BRIAN
JENKINS NANCY
REGION CODE ADDRESS : 1304 FONTHILL AVENUE
02 CITY : TORRANCE
STATE/ZIP : CA 90503
MORTGAGE AMOUNT : 251,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,356.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,717.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007690456 MORTGAGORS: HENDERSON ANDREW
HENDERSON ANDREA
REGION CODE ADDRESS : 248 HIGHLAND PLACE
02 CITY : MONROVIA
STATE/ZIP : CA 91016
MORTGAGE AMOUNT : 273,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,342.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,914.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 57.99700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,658,500.00
P & I AMT: 11,552.71
UPB AMT: 1,656,009.27
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 36
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007690472 MORTGAGORS: WALDON TERRY
WALDON LINNETTE
REGION CODE ADDRESS : 6646 E 107TH STREET
02 CITY : TULSA
STATE/ZIP : OK 74133
MORTGAGE AMOUNT : 323,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 322,553.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,341.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007690480 MORTGAGORS: BURKE PATRICK
BURKE JOANNE
REGION CODE ADDRESS : 9830 BANKSIDE DRIVE
02 CITY : ROSWELL
STATE/ZIP : GA 30076
MORTGAGE AMOUNT : 384,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 383,384.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,587.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007690498 MORTGAGORS: CROOK TERRENCE
CROOK MELODY
REGION CODE ADDRESS : 918 N AVENUE
02 CITY : ESCONDIDO
STATE/ZIP : CA 92026
MORTGAGE AMOUNT : 295,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 293,898.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,062.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.64100
----------------------------------------------------------------
0 0007690506 MORTGAGORS: JONES ROSEMARIE
REGION CODE ADDRESS : 6526 SOUTHAMPTON DR
02 CITY : CLARKSTON
STATE/ZIP : MI 48346
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,645.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,791.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 78.98800
----------------------------------------------------------------
0 0007690514 MORTGAGORS: GUTOWSKI ROBERT
GUTOWSKI CHRISTINE
REGION CODE ADDRESS : 3251 MUIRFIELD ROAD
02 CITY : CENTER VALLEY
STATE/ZIP : PA 18034
MORTGAGE AMOUNT : 249,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,349.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,682.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,501,750.00
P & I AMT: 10,465.41
UPB AMT: 1,498,831.81
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 37
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007690522 MORTGAGORS: HAMMOND FRED
HAMMOND FLORANNE
REGION CODE ADDRESS : 36 MCAFEE FARM ROAD
02 CITY : BEDFORD
STATE/ZIP : NH 03110
MORTGAGE AMOUNT : 330,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 330,256.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,200.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.97900
----------------------------------------------------------------
0 0007690530 MORTGAGORS: LARGE PHILLIP
LARGE DARLENE
REGION CODE ADDRESS : 2970 INTERLAKEN
02 CITY : WEST BLOOMFIELD
STATE/ZIP : MI 48323
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,672.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,661.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 43.71500
----------------------------------------------------------------
0 0007690548 MORTGAGORS: OVERLY JEFFREY
OVERLY KAREN
REGION CODE ADDRESS : 9820 LAKE DRIVE 209
02 CITY : MYRTLE BEACH
STATE/ZIP : SC 29572
MORTGAGE AMOUNT : 306,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 305,532.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,113.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0007690555 MORTGAGORS: RENNER MARTIN
RENNER LISA
REGION CODE ADDRESS : 1891 RADCLIFFE COURT
02 CITY : WEST LINN
STATE/ZIP : OR 97068
MORTGAGE AMOUNT : 364,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 363,444.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,514.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007690563 MORTGAGORS: ROACH CHARLOTTE
REGION CODE ADDRESS : 210 BRINSMAYD AVENUE
02 CITY : STRATFORD
STATE/ZIP : CT 06497
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,610.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,761.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 77.98100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,655,800.00
P & I AMT: 11,250.80
UPB AMT: 1,653,516.15
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 38
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007690571 MORTGAGORS: MILES JAMES
MILES RITA
REGION CODE ADDRESS : 10036 CREEKWOOD TRAIL
02 CITY : SPRINGFIELD
STATE/ZIP : MI 48350
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,494.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,970.79 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 74.62600
----------------------------------------------------------------
0 0007690589 MORTGAGORS: MOCK TODD
MOCK LISA
REGION CODE ADDRESS : 1370 TAYLOR DRIVE
02 CITY : LANGHORNE
STATE/ZIP : PA 19047
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,407.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,768.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007690613 MORTGAGORS: KONTOR ATTILA
REGION CODE ADDRESS : 13 LANDING WAY
02 CITY : DOVER
STATE/ZIP : NH 03820
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,777.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,180.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 68.44400
----------------------------------------------------------------
0 0007690647 MORTGAGORS: PHILLIPS EDWARD
PHILLIPS THERESA
REGION CODE ADDRESS : 11559 HOLLY BRIAR LANE
02 CITY : GREAT FALLS
STATE/ZIP : VA 22066
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,384.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,017.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.16600
----------------------------------------------------------------
0 0007690654 MORTGAGORS: WEHRS JAMES
WEHRS DIANE
REGION CODE ADDRESS : 13525 SW MOUNTAIN RIDGE COURT
02 CITY : TIGARD
STATE/ZIP : OR 97224
MORTGAGE AMOUNT : 251,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,125.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,758.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.85100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,400,500.00
P & I AMT: 9,694.68
UPB AMT: 1,398,189.92
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 39
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007690662 MORTGAGORS: PHILIPS BRYAN
PHILIPS RENEE
REGION CODE ADDRESS : 17763 KELOK ROAD
02 CITY : LAKE OSWEGO
STATE/ZIP : OR 97034
MORTGAGE AMOUNT : 468,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 467,285.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,232.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007690696 MORTGAGORS: WRENN WILLIAM
WRENN SUZANNE
REGION CODE ADDRESS : 5502 COUNTY LOUTH COURT
02 CITY : CHARLOTTE
STATE/ZIP : NC 28277
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,217.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,410.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0007690704 MORTGAGORS: DETROYE JEFF
DETROYE DIANE
REGION CODE ADDRESS : 4101 NECOSTIN WAY
02 CITY : ANNANDALE
STATE/ZIP : VA 22003
MORTGAGE AMOUNT : 242,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,898.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,714.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0007693864 MORTGAGORS: ALEXANDER CHARLES
REGION CODE ADDRESS : 837 SHINN POINT RD
01 CITY : WILMINGTON
STATE/ZIP : NC 28409
MORTGAGE AMOUNT : 477,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 476,627.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,253.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 78.84200
----------------------------------------------------------------
0 0007694359 MORTGAGORS: PAUL KARAMCHAND
PAUL SHEELA
REGION CODE ADDRESS : 1953 S MULLINIX RD
01 CITY : GREENWOOD
STATE/ZIP : IN 46143
MORTGAGE AMOUNT : 342,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 341,890.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,394.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,029,650.00
P & I AMT: 14,006.00
UPB AMT: 2,026,919.38
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 40
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0007694748 MORTGAGORS: GRADICK GROVER
GRADICK MARY
REGION CODE ADDRESS : 13841 CREEKSIDE PL.
01 CITY : DALLAS
STATE/ZIP : TX 75240
MORTGAGE AMOUNT : 329,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 328,784.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,246.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 71.74200
----------------------------------------------------------------
0 0007695737 MORTGAGORS: SPYROPOULOS M.
SPYROPOULOS PETER
REGION CODE ADDRESS : 115 HIGH ROCK STREET
01 CITY : NEEDHAM
STATE/ZIP : MA 02192
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,473.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,128.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 61.53800
----------------------------------------------------------------
0 0007695992 MORTGAGORS: KELLEY JAMES
KELLEY BRENDA
REGION CODE ADDRESS : 14112 SOUTHSHORE RD
01 CITY : MIDLOTHIAN
STATE/ZIP : VA 23112
MORTGAGE AMOUNT : 277,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,399.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,964.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031106107 MORTGAGORS: MORENO ROBERT
MORENO-JENS MARION
REGION CODE ADDRESS : 10 MOSELEM SPRINGS COURT
01 CITY : SKILLMAN
STATE/ZIP : NJ 08558
MORTGAGE AMOUNT : 368,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 366,604.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,880.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/18
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031141617 MORTGAGORS: CARREON WILFREDO
CARREON EVELYN
REGION CODE ADDRESS : 2604 FAIRHAUSER ROAD
01 CITY : NAPERVILLE,
STATE/ZIP : IL 60564
MORTGAGE AMOUNT : 243,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,819.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,699.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,537,900.00
P & I AMT: 10,920.10
UPB AMT: 1,535,081.58
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 41
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031180284 MORTGAGORS: DRESP MATHEW
DRESP DEBORAH
REGION CODE ADDRESS : 11530 E DESERT HOLLY DRIVE
01 CITY : SCOTTSDALE
STATE/ZIP : AZ 85255
MORTGAGE AMOUNT : 250,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,215.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,774.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 01/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 78.73000
----------------------------------------------------------------
0 0031219843 MORTGAGORS: CALLAHAN WILLIAM
CALLAHAN KATHRYN
REGION CODE ADDRESS : 1 HUNTINGDON FARM DRIVE
01 CITY : GLEN MILLS
STATE/ZIP : PA 19342
MORTGAGE AMOUNT : 233,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,613.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,575.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 94.98200
----------------------------------------------------------------
0 0031226921 MORTGAGORS: ESCANLAR CHRISTOPHER
REGION CODE ADDRESS : 7965 PASEO ESMERADO
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 687,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 686,600.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,985.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 015
LTV : 79.94700
----------------------------------------------------------------
0 0031235864 MORTGAGORS: MORRISON TIMOTHY
MORRISON LINDA
REGION CODE ADDRESS : 10971 LEGAULT LANE
01 CITY : CONIFER
STATE/ZIP : CO 80433
MORTGAGE AMOUNT : 458,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 456,973.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,202.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.96500
----------------------------------------------------------------
0 0031261472 MORTGAGORS: GALASSO ANTHONY
GALASSO LAURIE
REGION CODE ADDRESS : 4962 WHARFF LANE
01 CITY : ELLICOTT CITY
STATE/ZIP : MD 21043
MORTGAGE AMOUNT : 250,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,114.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,750.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.99600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,880,350.00
P & I AMT: 13,287.35
UPB AMT: 1,876,517.43
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 42
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031304348 MORTGAGORS: COTTONE JOHN
SCHMITZ CAROL
REGION CODE ADDRESS : 1 LAUREL LANE
01 CITY : MATINECOCK
STATE/ZIP : NY 11560
MORTGAGE AMOUNT : 589,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 584,755.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,118.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 04/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 73.80900
----------------------------------------------------------------
0 0031309123 MORTGAGORS: RECTOR PAUL
RECTOR KATIE
REGION CODE ADDRESS : 10820 BROKEN BROOK COVE
01 CITY : AUSTIN
STATE/ZIP : TX 78726
MORTGAGE AMOUNT : 257,302.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,889.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,733.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99900
----------------------------------------------------------------
0 0031341407 MORTGAGORS: AQUARO PAUL
AQUARO CHERIE
REGION CODE ADDRESS : 721 W. MELISSA DRIVE
01 CITY : YARDLEY
STATE/ZIP : PA 19067
MORTGAGE AMOUNT : 242,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,941.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,570.58 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 78.52300
----------------------------------------------------------------
0 0031364615 MORTGAGORS: BASS JONATHAN
DIMITRIADES TATIANA
REGION CODE ADDRESS : 308 COMMONWEALTH AVENUE UNIT G
01 CITY : BOSTON
STATE/ZIP : MA 02115
MORTGAGE AMOUNT : 294,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,922.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,080.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 04/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 52.03500
----------------------------------------------------------------
0 0031411903 MORTGAGORS: HERRERA ROLANDO
HERRERA LUCIA
REGION CODE ADDRESS : 9610 EAGLE VIEW WAY
01 CITY : GILROY
STATE/ZIP : CA 95020
MORTGAGE AMOUNT : 252,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,507.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,766.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 03/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 85.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,635,102.00
P & I AMT: 11,269.93
UPB AMT: 1,628,015.90
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 43
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031422264 MORTGAGORS: LEONARD PATRICK
LEONARD CHRISTINE
REGION CODE ADDRESS : 108 STONEYFORD ROAD LOT 230
01 CITY : HOLLAND
STATE/ZIP : PA 18966
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,782.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,123.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 92.97800
----------------------------------------------------------------
0 0031422496 MORTGAGORS: HALEY ADRIANA
HALEY MICHAEL
REGION CODE ADDRESS : 5 WAKEMAN ROAD
01 CITY : LEWISBOROM
STATE/ZIP : NY 10590
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,329.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,957.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 69.13580
----------------------------------------------------------------
0 0031452824 MORTGAGORS: HAYES SPENCER
HAYES ALLISON
REGION CODE ADDRESS : 106 MANOR RIDGE COURT
01 CITY : AUSTIN
STATE/ZIP : TX 78746
MORTGAGE AMOUNT : 326,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 325,372.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,226.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031455694 MORTGAGORS: BRAIT KENNETH
REGION CODE ADDRESS : 3523 CENTRAL AVENUE 2ND FL
01 CITY : OCEAN CITY
STATE/ZIP : NJ 08226
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,600.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,873.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031460694 MORTGAGORS: MCKENZIE GEOFFREY
MCKENZIE LESLIE
REGION CODE ADDRESS : 25 NESHANIC DRIVE
01 CITY : RARITAN TOWNSHIP
STATE/ZIP : NJ 08551
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,789.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,642.33 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 73.96400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,424,400.00
P & I AMT: 9,824.04
UPB AMT: 1,421,875.97
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 44
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031480916 MORTGAGORS: DILLON BRIAN
DILLON LUCY
REGION CODE ADDRESS : 3 INNES CIRCLE
01 CITY : MEDFIELD
STATE/ZIP : MA 02052
MORTGAGE AMOUNT : 498,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 498,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,401.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.90300
----------------------------------------------------------------
0 0031487747 MORTGAGORS: WASSERMAN BARRY
WASSERMAN STACEY
REGION CODE ADDRESS : 806 PEBBLEWOOD ROAD
01 CITY : WEST CHESTER
STATE/ZIP : PA 19380
MORTGAGE AMOUNT : 337,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 336,749.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,356.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 82.19512
----------------------------------------------------------------
0 0031501760 MORTGAGORS: PAULICK STEVEN
LEE ANNE
REGION CODE ADDRESS : 1602 COSTA DEL SOL
01 CITY : PISMO BEACH
STATE/ZIP : CA 93449
MORTGAGE AMOUNT : 261,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,829.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 94.98900
----------------------------------------------------------------
0 0031503071 MORTGAGORS: PERRY JOYCE
PERRY BERNARD
REGION CODE ADDRESS : 553 TIERRA MAR LANE
01 CITY : NAPLES
STATE/ZIP : FL 34108
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 318,904.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,210.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031513294 MORTGAGORS: SPITZ JOEL
SPITZ JACQUELINE
REGION CODE ADDRESS : 15 WILBUR DRIVE
01 CITY : GREAT NECK
STATE/ZIP : NY 11021
MORTGAGE AMOUNT : 600,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 600,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,042.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 65.43000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,017,200.00
P & I AMT: 13,839.33
UPB AMT: 2,015,854.30
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 45
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031515562 MORTGAGORS: CUDDAPAH DEEPAK
CUDDAPAH KATHRYN
REGION CODE ADDRESS : 13434 BISSEL LANE
01 CITY : POTOMAC
STATE/ZIP : MD 20854
MORTGAGE AMOUNT : 543,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 543,154.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,616.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
0 0031517956 MORTGAGORS: ROSSE CLAUDE
ROSSE CLAIRE
REGION CODE ADDRESS : 33 BLENHEIN FARM LANE
01 CITY : PHOENIX
STATE/ZIP : MD 21131
MORTGAGE AMOUNT : 450,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 449,346.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,185.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 58.06400
----------------------------------------------------------------
0 0031526528 MORTGAGORS: TYLER ELLEN
TYLER MICHAEL
REGION CODE ADDRESS : 3317 CRANMORE CHASE
01 CITY : MARIETTA
STATE/ZIP : GA 30066
MORTGAGE AMOUNT : 266,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,186.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,794.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.84500
----------------------------------------------------------------
0 0031528128 MORTGAGORS: PATTERSON JEAN
PATTERSON RANDALL
REGION CODE ADDRESS : LOT 3 12 LEDGEWOOD FARM DRIVE
01 CITY : COHASSET
STATE/ZIP : MA 02025
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,561.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,708.02 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 59.09000
----------------------------------------------------------------
0 0031536329 MORTGAGORS: CLEARY JOHN
CLEARY JILL
REGION CODE ADDRESS : 11389 CARMEL CREEK ROAD
01 CITY : SAN DIEGO
STATE/ZIP : CA 92130
MORTGAGE AMOUNT : 234,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,683.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,596.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.98400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,754,050.00
P & I AMT: 11,901.10
UPB AMT: 1,751,933.52
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 46
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031539000 MORTGAGORS: FARRELL T
FARRELL JANINE
REGION CODE ADDRESS : 236 FRENCH ROAD
01 CITY : NEWTOWN SQUARE
STATE/ZIP : PA 19073
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,041.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,154.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031544943 MORTGAGORS: GOLDTHWAITE STEVEN
REGION CODE ADDRESS : 487 SPLIT ROCK ROAD
01 CITY : ROCKAWAY
STATE/ZIP : NJ 07866
MORTGAGE AMOUNT : 295,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,037.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.64100
----------------------------------------------------------------
0 0031545957 MORTGAGORS: ROSENTHAL STUART
ROSENTHAL JEAN
REGION CODE ADDRESS : 18 MAGNUM COURT
01 CITY : BERKELEY HEIGHTS
STATE/ZIP : NJ 07922
MORTGAGE AMOUNT : 352,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 351,732.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,431.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.10100
----------------------------------------------------------------
0 0031550718 MORTGAGORS: GOLDSTEIN LAWRENCE
GOLDSTEIN FREDDI
REGION CODE ADDRESS : 872 ROSCOMMON ROAD
01 CITY : BRYN MAWR
STATE/ZIP : PA 19010
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,590.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,326.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 60.24096
----------------------------------------------------------------
0 0031551500 MORTGAGORS: KUCHTA DANIEL
KUCHTA MICHELE
REGION CODE ADDRESS : 63 SUNSET DRIVE
01 CITY : PATTERSON
STATE/ZIP : NY 12563
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,220.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,817.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,719,000.00
P & I AMT: 11,768.06
UPB AMT: 1,716,584.76
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 47
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031552250 MORTGAGORS: KANE MICHAEL
KANE CHRISTINE
REGION CODE ADDRESS : 46894 WESLEYAN COURT
01 CITY : STERLING
STATE/ZIP : VA 20164
MORTGAGE AMOUNT : 238,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,020.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,728.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 79.99000
----------------------------------------------------------------
0 0031552706 MORTGAGORS: BROADDUS J
BROADDUS JENNIFER
REGION CODE ADDRESS : 10317 CONGRESSIONAL COURT
01 CITY : ELLICOTT CITY
STATE/ZIP : MD 21042
MORTGAGE AMOUNT : 239,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,505.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,596.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0031559032 MORTGAGORS: MARZULLI JOHN
MARZULLI PENELOPE
REGION CODE ADDRESS : 34 WEST 11TH STREET
01 CITY : AVALON
STATE/ZIP : NJ 08202
MORTGAGE AMOUNT : 261,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,400.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,802.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031560758 MORTGAGORS: WU HON
WONG CHI
REGION CODE ADDRESS : 13719 VALLEY OAK CIRCLE
01 CITY : ROCKVILLE
STATE/ZIP : MD 20850
MORTGAGE AMOUNT : 271,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,993.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,873.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031561715 MORTGAGORS: DONAT ROBERT
REGION CODE ADDRESS : 4452 RAINBOW LANE
01 CITY : YORBA LINDA
STATE/ZIP : CA 92886
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,173.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,724.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,266,450.00
P & I AMT: 8,724.77
UPB AMT: 1,264,094.35
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 48
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031563620 MORTGAGORS: COYLE STEPHEN
DEGNAN MARY
REGION CODE ADDRESS : 7 DAVIS LANE
01 CITY : GEORGETOWN
STATE/ZIP : MA 01833
MORTGAGE AMOUNT : 314,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,700.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,067.35 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
0 0031564958 MORTGAGORS: FORTUNATO GREGORY
FORTUNATO KIMBERLY
REGION CODE ADDRESS : 43297 HILLHEAD PLACE
01 CITY : LEESBURG
STATE/ZIP : VA 20176
MORTGAGE AMOUNT : 311,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 310,844.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,069.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.98900
----------------------------------------------------------------
0 0031565195 MORTGAGORS: SELLERS THOMAS
SELLERS BARBARA
REGION CODE ADDRESS : 1102 23RD AVE SW
01 CITY : ROCHESTER
STATE/ZIP : MN 55902
MORTGAGE AMOUNT : 320,841.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,830.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,188.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031566763 MORTGAGORS: BERNETTE RONALD
REGION CODE ADDRESS : 280 PARK AVENUE SOUTH #14C
01 CITY : NEW YORK
STATE/ZIP : NY 10010
MORTGAGE AMOUNT : 324,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 323,541.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,321.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 84.98300
----------------------------------------------------------------
0 0031570120 MORTGAGORS: SUNDELL CHARLES
SUNDELL JANET
REGION CODE ADDRESS : 7603 BELLFLOWER COVE
01 CITY : AUSTIN
STATE/ZIP : TX 78759
MORTGAGE AMOUNT : 282,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,103.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,947.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.24000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,552,641.00
P & I AMT: 10,594.70
UPB AMT: 1,550,020.28
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 49
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031570906 MORTGAGORS: WILLIAMS DENNIS
WILLIAMS PENNY
REGION CODE ADDRESS : 74 FEATHER RIDGE
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 390,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 389,937.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,629.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99200
----------------------------------------------------------------
0 0031570948 MORTGAGORS: SHUHAIBAR GABI
REGION CODE ADDRESS : 19358 EUREKA RIVER PLACE
01 CITY : WALNUT
STATE/ZIP : CA 91789
MORTGAGE AMOUNT : 255,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,803.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,808.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 94.66500
----------------------------------------------------------------
0 0031571540 MORTGAGORS: GELFAND DAVID
GELFAND KATHY
REGION CODE ADDRESS : 26 OWLS NEST LANE
01 CITY : EAST HAMPTON
STATE/ZIP : NY 11937
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,695.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,762.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 50.09300
----------------------------------------------------------------
0 0031573074 MORTGAGORS: PANGILINAN RONALD
PANGILINAN MARLENE
REGION CODE ADDRESS : 991 ROSAL COURT
01 CITY : CHULA VISTA
STATE/ZIP : CA 91910
MORTGAGE AMOUNT : 281,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,240.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,993.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 94.99100
----------------------------------------------------------------
0 0031573793 MORTGAGORS: KROVATIN WILLIAM
SCHIRIPO PATRICIA
REGION CODE ADDRESS : 43 GLEN RIDGE PARKWAY
01 CITY : GLEN RIDGE
STATE/ZIP : NJ 07028
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,624.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,637.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,567,450.00
P & I AMT: 10,831.39
UPB AMT: 1,565,302.04
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 50
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031574627 MORTGAGORS: VAN KOUTEREN MARK
REGION CODE ADDRESS : 56 ASYLUM STREET
01 CITY : MILFORD
STATE/ZIP : MA 01757
MORTGAGE AMOUNT : 228,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 227,693.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,672.98 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031580079 MORTGAGORS: KEMMERLING TODD
KEMMERLING LISA
REGION CODE ADDRESS : 10758 INSPIRATION CIRCLE
01 CITY : DUBLIN
STATE/ZIP : CA 94568
MORTGAGE AMOUNT : 455,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 454,812.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,182.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 89.99843
----------------------------------------------------------------
0 0031582307 MORTGAGORS: MESSINA JOHN
MESSINA TERESA
REGION CODE ADDRESS : 12707 ALTICE CT
01 CITY : DARNESTOWN
STATE/ZIP : MD 20878
MORTGAGE AMOUNT : 238,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,050.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,583.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 57.63200
----------------------------------------------------------------
0 0031585185 MORTGAGORS: YEVICH MICHAEL
YEVICH OLLA
REGION CODE ADDRESS : 45 MAPLE AVENUE
01 CITY : SHELTON
STATE/ZIP : CT 06484
MORTGAGE AMOUNT : 268,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,300.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,877.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 88.46700
----------------------------------------------------------------
0 0031586001 MORTGAGORS: EDWARDS JOHN
REGION CODE ADDRESS : 3842 N LAKEWOOD UNIT A
01 CITY : CHICAGO
STATE/ZIP : IL 60613
MORTGAGE AMOUNT : 342,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 342,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,420.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,531,700.00
P & I AMT: 10,737.26
UPB AMT: 1,530,855.97
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 51
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031586274 MORTGAGORS: SCHACTER JANE
BRODIE JULIET
REGION CODE ADDRESS : 807 W LIBERTY
01 CITY : ANN HARBOR
STATE/ZIP : MI 48103
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,813.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,891.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031587504 MORTGAGORS: ZWOYER EUGENE
ZWOYER JEFFREY
REGION CODE ADDRESS : 8 HOWLIN WOLF TRAIL
01 CITY : TIJERAS
STATE/ZIP : NM 87059
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,446.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,078.99 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 78.21200
----------------------------------------------------------------
0 0031588338 MORTGAGORS: LEDERER GARY
LEDERER TERESA
REGION CODE ADDRESS : 367 EAST BRIARWOOD TERRACE
01 CITY : PHOENIX
STATE/ZIP : AZ 85048
MORTGAGE AMOUNT : 276,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,381.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,929.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031588601 MORTGAGORS: MOUNSEY JOHN
MOUNSEY ANNE
REGION CODE ADDRESS : 555 GRASSMERE ROAD
01 CITY : CHARLOTTESVILLE
STATE/ZIP : VA 22903
MORTGAGE AMOUNT : 346,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 345,834.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,421.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.62000
----------------------------------------------------------------
0 0031589914 MORTGAGORS: STREB BRIAN
STREB PACITA
REGION CODE ADDRESS : 17 CROSS ROAD
01 CITY : CORTLAND MANOR
STATE/ZIP : NY 10566
MORTGAGE AMOUNT : 344,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 343,744.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,405.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,510,350.00
P & I AMT: 10,727.19
UPB AMT: 1,508,221.10
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 52
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031591134 MORTGAGORS: MOSS JANE
REGION CODE ADDRESS : 110 SHEARER ROAD
01 CITY : WASHINGTON
STATE/ZIP : CT 06793
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,868.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031594021 MORTGAGORS: MC LAUGHLIN KEVIN
MC LAUGHLIN JOAN
REGION CODE ADDRESS : 25 BAYBERRY LANE
01 CITY : MOUNTAINSIDE BORO OF
STATE/ZIP : NJ 07092
MORTGAGE AMOUNT : 352,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 352,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,401.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031595192 MORTGAGORS: ROMANOWSKI GEORGE
ROMANOWSKI PAMELA
REGION CODE ADDRESS : 325 MOMAR DRIVE
01 CITY : RAMSEY
STATE/ZIP : NJ 07446
MORTGAGE AMOUNT : 247,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,816.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,727.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.04000
----------------------------------------------------------------
0 0031598832 MORTGAGORS: DIGIROLAMO CARL
REGION CODE ADDRESS : BRYNWOOD COURT
01 CITY : PEAPACK
STATE/ZIP : NJ 07977
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,790.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,899.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 55.01100
----------------------------------------------------------------
0 0031603269 MORTGAGORS: FEIZI ALI
FEIZI IWONA
REGION CODE ADDRESS : 10407 OVERGATE PLACE
01 CITY : POTOMAC
STATE/ZIP : MD 20854
MORTGAGE AMOUNT : 248,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,006.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,693.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,386,200.00
P & I AMT: 9,589.43
UPB AMT: 1,385,613.80
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 53
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031603319 MORTGAGORS: PECK RANDALL
PECK DIANE
REGION CODE ADDRESS : 5729 WAGNER LANE
01 CITY : WEST BEND
STATE/ZIP : WI 53095
MORTGAGE AMOUNT : 385,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 385,121.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,727.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 77.85800
----------------------------------------------------------------
0 0031604077 MORTGAGORS: MURPHY JOSEPH
MURPHY REBECCA
REGION CODE ADDRESS : 139 WOODS END
01 CITY : BASKING RIDGE
STATE/ZIP : NJ 07920
MORTGAGE AMOUNT : 322,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 322,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,334.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 59.08256
----------------------------------------------------------------
0 0031604374 MORTGAGORS: SAAKVITNE JAMES
REGION CODE ADDRESS : 161 WEST 15TH STREET #2C
01 CITY : NEW YORK
STATE/ZIP : NY 10011
MORTGAGE AMOUNT : 420,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 420,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,972.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031606718 MORTGAGORS: PARVINI ALI
REGION CODE ADDRESS : 860 BROWN DRIVE
01 CITY : BURBANK
STATE/ZIP : CA 91504
MORTGAGE AMOUNT : 267,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,786.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,798.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 66.75000
----------------------------------------------------------------
0 0031607708 MORTGAGORS: HEALY DONALD
HEALY BABETTE
REGION CODE ADDRESS : 39 JUDITH DR.
01 CITY : DANBURY
STATE/ZIP : CT 06811
MORTGAGE AMOUNT : 300,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,150.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,946.77 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,694,550.00
P & I AMT: 11,780.91
UPB AMT: 1,694,057.54
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 54
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031608623 MORTGAGORS: PEREIRA JOAQUIM
ZAKOIAN PATRICIA
REGION CODE ADDRESS : 5173 ABBEYWOOD DRIVE
01 CITY : CASTRO VALLEY
STATE/ZIP : CA 94552
MORTGAGE AMOUNT : 234,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,933.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,598.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.96700
----------------------------------------------------------------
0 0031608946 MORTGAGORS: MCNEEL JOHN
CASH-MCNEEL KAREN
REGION CODE ADDRESS : 5335 N. LAKEWOOD AVE.
01 CITY : CHICAGO
STATE/ZIP : IL 60640
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,463.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,517.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031612211 MORTGAGORS: HYMAN TERRY
HYMAN CHRISTINE
REGION CODE ADDRESS : 155 SOUTH COLLEGE STREET
01 CITY : CARLISLE
STATE/ZIP : PA 17013
MORTGAGE AMOUNT : 243,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,616.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031612229 MORTGAGORS: BERKOBIN FRED
BERKOBIN LINDA
REGION CODE ADDRESS : 129 NORTH WAWASET RD
01 CITY : WEST CHESTER
STATE/ZIP : PA 19382
MORTGAGE AMOUNT : 295,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,457.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,037.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.75000
----------------------------------------------------------------
0 0031614423 MORTGAGORS: ERRICKSON CLIFFORD
ERRICKSON LYNN
REGION CODE ADDRESS : 205 RICE MILL CIRCLE
01 CITY : SUNSET BEACH
STATE/ZIP : NC 28468
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,566.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,933.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,412,300.00
P & I AMT: 9,703.60
UPB AMT: 1,409,420.83
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 55
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031615164 MORTGAGORS: MORRILL JEFFREY
MORRILL JOYCE
REGION CODE ADDRESS : 34 GROVE ST
01 CITY : LEXINGTON
STATE/ZIP : MA 02420
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,734.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,319.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 78.16000
----------------------------------------------------------------
0 0031615826 MORTGAGORS: BRADARAN MEHDI
AFSHAR NILOOFAR
REGION CODE ADDRESS : 4924 KINSINGTON COURT
01 CITY : SANTA ROSA
STATE/ZIP : CA 95405
MORTGAGE AMOUNT : 232,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 231,474.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,622.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031616535 MORTGAGORS: HOCH DANIEL
HOCH CAROL
REGION CODE ADDRESS : 11 PIPER LANE
01 CITY : HAWTHORNE WOODS
STATE/ZIP : IL 60047
MORTGAGE AMOUNT : 235,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,825.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,643.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 68.28400
----------------------------------------------------------------
0 0031616931 MORTGAGORS: PICKIN HAROLD
HAYES CHRISTINE
REGION CODE ADDRESS : 237 UPKIND AVENUE
01 CITY : NEWTON
STATE/ZIP : MA 02159
MORTGAGE AMOUNT : 567,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 566,878.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,966.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 70.86500
----------------------------------------------------------------
0 0031617251 MORTGAGORS: CUNNINGHAM JAMES
REGION CODE ADDRESS : 7840 SW 169 STREET
01 CITY : MIAMI
STATE/ZIP : FL 33157
MORTGAGE AMOUNT : 263,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,586.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,751.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,637,500.00
P & I AMT: 11,302.46
UPB AMT: 1,635,500.32
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 56
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031618879 MORTGAGORS: LEDERER WILLIAM
SHEPHERD JENNIFER
REGION CODE ADDRESS : 18904 SAINT ALBERT DRIVE
01 CITY : BROOKEVILLE
STATE/ZIP : MD 20833
MORTGAGE AMOUNT : 252,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,550.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,744.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.98400
----------------------------------------------------------------
0 0031619794 MORTGAGORS: DUPLAK FRANK
DUPLAK TINA
REGION CODE ADDRESS : 4 HUNT COURT
01 CITY : WEST WINDSOR
STATE/ZIP : NJ 08512
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,796.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,851.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 72.82600
----------------------------------------------------------------
0 0031619919 MORTGAGORS: MCHALE SCOTT
MCHALE NORMA
REGION CODE ADDRESS : 2403 LA TINADA COURT
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 251,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,750.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,778.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.77700
----------------------------------------------------------------
0 0031620339 MORTGAGORS: GLAZER WILLIAM
GLAZER PAULA
REGION CODE ADDRESS : 2116 BASSWOOD DRIVE
01 CITY : LAFAYETTE HILL
STATE/ZIP : PA 19444
MORTGAGE AMOUNT : 337,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 337,009.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,187.72 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 79.98900
----------------------------------------------------------------
0 0031621592 MORTGAGORS: KALOUSTIAN SYLVIA
REGION CODE ADDRESS : 37 ANTHONY ROAD
01 CITY : NEWTON
STATE/ZIP : MA 02160
MORTGAGE AMOUNT : 291,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,799.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,109.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 73.67000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,400,150.00
P & I AMT: 9,671.67
UPB AMT: 1,398,906.26
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 57
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031623283 MORTGAGORS: GRAVELINE GEORGE
GRAVELINE ALEXIS
REGION CODE ADDRESS : 115 VIA UNDINE
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92663
MORTGAGE AMOUNT : 479,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 479,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,146.69 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 54.49300
----------------------------------------------------------------
0 0031625106 MORTGAGORS: SILVER STEPHEN
SILVER CHIZUKO
REGION CODE ADDRESS : 227 CAUSEWAY STREET
01 CITY : MILLIS
STATE/ZIP : MA 02054
MORTGAGE AMOUNT : 311,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 310,951.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,096.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031625346 MORTGAGORS: HARTIGAN LORI
HARTIGAN TIMOTHY
REGION CODE ADDRESS : 2517 HARTZELL STREET
01 CITY : EVANSTON
STATE/ZIP : IL 60201
MORTGAGE AMOUNT : 427,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 427,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,989.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031627441 MORTGAGORS: SIGEL STEVEN
SIGEL SHEILA
REGION CODE ADDRESS : 1399 PARK DRIVE
01 CITY : ORONO
STATE/ZIP : MN 55364
MORTGAGE AMOUNT : 326,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 325,489.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,223.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 64.81113
----------------------------------------------------------------
0 0031628712 MORTGAGORS: CONLON ROBERT
CONLON BETSY
REGION CODE ADDRESS : 5 RICHARD ROAD
01 CITY : MEDFIELD
STATE/ZIP : MA 02052
MORTGAGE AMOUNT : 324,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 323,541.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,321.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,867,700.00
P & I AMT: 12,777.53
UPB AMT: 1,866,482.12
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 58
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031629637 MORTGAGORS: SANTOS ROBERT
SANTOS JILL
REGION CODE ADDRESS : 2788 LOUVRE LANE
01 CITY : LIVERMORE
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 374,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 373,842.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,617.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031629645 MORTGAGORS: RANDISE PERRY
RANDISE THERESA
REGION CODE ADDRESS : 4 STRATHMORE COURT
01 CITY : FREEHOLD
STATE/ZIP : NJ 07728
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,809.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,726.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 84.74570
----------------------------------------------------------------
0 0031630403 MORTGAGORS: RABIN JILL
REGION CODE ADDRESS : 275 WEST 96TH STREET #29A
01 CITY : NEW YORK
STATE/ZIP : NY 10025
MORTGAGE AMOUNT : 476,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 475,273.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,287.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031630445 MORTGAGORS: MITCHELL MICHAEL
MITCHELL CYNTHIA
REGION CODE ADDRESS : 636 MAIN STREET
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92648
MORTGAGE AMOUNT : 299,702.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,232.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,044.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 86.15500
----------------------------------------------------------------
0 0031630676 MORTGAGORS: BLACHAR DEBORAH
REGION CODE ADDRESS : 505 PERSIMMON TREE RD
01 CITY : LEXINGTON
STATE/ZIP : SC 29072
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,762.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,073.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,704,102.00
P & I AMT: 11,750.48
UPB AMT: 1,701,921.54
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 59
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031631047 MORTGAGORS: JANSEN ARIAN
VAN LAMBALGEN SOPHIA
REGION CODE ADDRESS : 402 SUNDANCE ST
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91360
MORTGAGE AMOUNT : 269,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,805.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,903.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 86.77400
----------------------------------------------------------------
0 0031633118 MORTGAGORS: SELPH DOUGLAS
YODER CONRAD
REGION CODE ADDRESS : 2818-2822 22ND STREET
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94110
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 379,405.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,592.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.16600
----------------------------------------------------------------
0 0031634942 MORTGAGORS: SMITH KEVIN
SMITH BRENDA
REGION CODE ADDRESS : 7 CHEDDAR PLACE
01 CITY : FRANKLIN TOWNSHIP
STATE/ZIP : NJ 08873
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,814.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,748.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 92.59200
----------------------------------------------------------------
0 0031637010 MORTGAGORS: LANGENBACH PAUL
LANGENBACH LISA
REGION CODE ADDRESS : 69 GLEN ROCK ROAD
01 CITY : CEDAR GROVE
STATE/ZIP : NJ 07009
MORTGAGE AMOUNT : 310,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 310,245.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,065.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 89.75100
----------------------------------------------------------------
0 0031637283 MORTGAGORS: GREENSWEIG JEROME
GREENSWEIG KAREN
REGION CODE ADDRESS : 10347 NORTHVALE ROAD
01 CITY : LOS ANGELES
STATE/ZIP : CA 90064
MORTGAGE AMOUNT : 424,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 423,669.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,892.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 65.23077
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,633,500.00
P & I AMT: 11,202.48
UPB AMT: 1,631,939.81
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 60
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031637853 MORTGAGORS: AVELLAR AARON
AVELLAR ANNA
REGION CODE ADDRESS : 20 BERRY LANE
01 CITY : PROVINCETOWN
STATE/ZIP : MA 02657
MORTGAGE AMOUNT : 347,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 347,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,426.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 64.61800
----------------------------------------------------------------
0 0031638489 MORTGAGORS: MILLER DAVID
REGION CODE ADDRESS : 130 BARROW STREET, #404
01 CITY : NEW YORK
STATE/ZIP : NY 10014
MORTGAGE AMOUNT : 382,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 381,930.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,674.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031638521 MORTGAGORS: DALTON ROBERT
DALTON BARBARA
REGION CODE ADDRESS : 2 CROW HOLLOW
01 CITY : CHAPEL HILL
STATE/ZIP : NC 27514
MORTGAGE AMOUNT : 355,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 355,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,421.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 52.59200
----------------------------------------------------------------
0 0031638570 MORTGAGORS: KALAINOFF DAVID
LAHERA DEBRA
REGION CODE ADDRESS : 100 HENRY STREET
01 CITY : GREENWICH
STATE/ZIP : CT 06830
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,779.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,320.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031638851 MORTGAGORS: GROCCIA ANN
GROCCIA ALFRED
REGION CODE ADDRESS : 52 MADISON ROAD
01 CITY : WELLESLEY
STATE/ZIP : MA 02482
MORTGAGE AMOUNT : 410,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 410,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,693.41 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 75.78500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,814,500.00
P & I AMT: 12,536.14
UPB AMT: 1,813,710.26
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 61
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031638877 MORTGAGORS: LIEBERMAN VICTOR
LIEBERMAN MARCIA
REGION CODE ADDRESS : 3598 CORTE LUISA
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 550,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 550,387.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,618.70 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.99600
----------------------------------------------------------------
0 0031638885 MORTGAGORS: KRAL MICHAEL
MARTIN KRAL LYNN
REGION CODE ADDRESS : 6 WENTWORTH DRIVE
01 CITY : BERKELEY HEIGHTS
STATE/ZIP : NJ 07922
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 312,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,154.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 77.90200
----------------------------------------------------------------
0 0031639065 MORTGAGORS: THOMPSON NATHAN
LEWANDOWSKI EVA
REGION CODE ADDRESS : 88 BUCKINGHAM ROAD
01 CITY : BROOKLYN
STATE/ZIP : NY 11226
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,590.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,851.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031639495 MORTGAGORS: BULLOCK DARRYL
MALONE G.
REGION CODE ADDRESS : 5903 HOMEWOOD COURT
01 CITY : LANHAM
STATE/ZIP : MD 20706
MORTGAGE AMOUNT : 275,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,950.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,947.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 94.98900
----------------------------------------------------------------
0 0031639529 MORTGAGORS: NORBY NIELS
NORBY TINA
REGION CODE ADDRESS : 7824 CALLE LOMAS
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 287,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,750.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,959.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 94.99600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,693,200.00
P & I AMT: 11,531.32
UPB AMT: 1,691,679.52
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 62
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031639693 MORTGAGORS: QUADT ROBERT
QUADT JONNA
REGION CODE ADDRESS : 12024 CREEKBEND DRIVE
01 CITY : RESTON
STATE/ZIP : VA 20194
MORTGAGE AMOUNT : 352,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 351,725.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,401.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.21300
----------------------------------------------------------------
0 0031640006 MORTGAGORS: BOWLING SCOTT
BOWLING SUSAN
REGION CODE ADDRESS : 10660 CARTWRIGHT FARM ROAD
01 CITY : CHARLOTTE HALL
STATE/ZIP : MD 20622
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,784.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,681.74 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 75.29400
----------------------------------------------------------------
0 0031640147 MORTGAGORS: FAWCETT REGINALD
FAWCETT SALLY
REGION CODE ADDRESS : 1221 SOUTH BASIN LANE
01 CITY : SARASOTA
STATE/ZIP : FL 34242
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,752.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,244.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 69.59300
----------------------------------------------------------------
0 0031641285 MORTGAGORS: BROWN MICHAEL
BROWN ELIZABETH
REGION CODE ADDRESS : 3 INDIAN HILLS LANE
01 CITY : MELROSE
STATE/ZIP : MA 02176
MORTGAGE AMOUNT : 338,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 338,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,392.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 78.24000
----------------------------------------------------------------
0 0031641863 MORTGAGORS: GREENAWAY JOSEPH
BLAKE-GREENAWAY VERONICA
REGION CODE ADDRESS : 973 CHEROKEE CT., F/K/A CHERRY QUAY
01 CITY : WESTFIELD
STATE/ZIP : NJ 07090
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,901.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,543,000.00
P & I AMT: 10,621.91
UPB AMT: 1,542,263.04
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 63
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031643125 MORTGAGORS: CONNOR KENNETH
CONNOR LISA
REGION CODE ADDRESS : 268 BEVERLY ROAD
01 CITY : BROOKLINE
STATE/ZIP : MA 02467
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 312,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,154.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 76.09700
----------------------------------------------------------------
0 0031643158 MORTGAGORS: ENNIST MICHAEL
REGION CODE ADDRESS : 20521 PAISLEY LANE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92646
MORTGAGE AMOUNT : 311,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 310,759.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,229.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031643380 MORTGAGORS: THOMPSON CHERYL
LAUER LOUIS
REGION CODE ADDRESS : 2897 SPRING LAKE DRIVE
01 CITY : DAVIDSONVILLE
STATE/ZIP : MD 21035
MORTGAGE AMOUNT : 301,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 301,376.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,108.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031643984 MORTGAGORS: HAMILTON CARL
HAMILTON CHRISTINE
REGION CODE ADDRESS : 79 CARIBE ISLE
01 CITY : NOVATO
STATE/ZIP : CA 94949
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,684.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 48.82800
----------------------------------------------------------------
0 0031644925 MORTGAGORS: FROESE ANDREA
REGION CODE ADDRESS : 3493 EAST FM 545
01 CITY : MELISSA
STATE/ZIP : TX 75454
MORTGAGE AMOUNT : 279,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,982.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,904.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,454,000.00
P & I AMT: 10,082.16
UPB AMT: 1,453,117.65
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 64
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031645443 MORTGAGORS: MOZZER JULIE
MOZZER MICHAEL
REGION CODE ADDRESS : 8 BARBERRY LANE
01 CITY : WEST NEWBURY
STATE/ZIP : MA 01985
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,069.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031645690 MORTGAGORS: POTTS VINCENT
POTTS CAROL
REGION CODE ADDRESS : 24 RANNEY ROAD
01 CITY : WASHINGTON TOWNSHIP
STATE/ZIP : NJ 07853
MORTGAGE AMOUNT : 318,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 318,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,201.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 85.00000
----------------------------------------------------------------
0 0031645997 MORTGAGORS: PALINI FABIANO
PALINI PATRICIA
REGION CODE ADDRESS : 2 CROWNSGATE COURT
01 CITY : GERMANTOWN
STATE/ZIP : MD 20874
MORTGAGE AMOUNT : 280,171.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,941.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,863.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.99900
----------------------------------------------------------------
0 0031646045 MORTGAGORS: GARDNER ROGER
GARDNER CHERI
REGION CODE ADDRESS : 4002 CATALINA
01 CITY : JEFFERSON CITY
STATE/ZIP : MO 65109
MORTGAGE AMOUNT : 249,524.13 OPTION TO CONVERT :
UNPAID BALANCE : 249,329.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,702.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.97600
----------------------------------------------------------------
0 0031646524 MORTGAGORS: TA THANH
AU DAO
REGION CODE ADDRESS : 3 PALMER CT
01 CITY : FARMINGDALE
STATE/ZIP : NJ 07727
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,705.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 86.20600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,394,445.13
P & I AMT: 9,542.83
UPB AMT: 1,394,020.83
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 65
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031646532 MORTGAGORS: TRAINOR EDWIN
TRAINOR ANGELA
REGION CODE ADDRESS : 15620 S FRANCES LANE
01 CITY : ORLAND PARK
STATE/ZIP : IL 60462
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,821.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,678.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031646706 MORTGAGORS: MACNEIL ALEXANDER
MACNEIL MARY
REGION CODE ADDRESS : 58 STRATFORD ST
01 CITY : W ROXBURY ST
STATE/ZIP : MA 02132
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,046.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 69.76700
----------------------------------------------------------------
0 0031646821 MORTGAGORS: KOOL IVO
KOOL ELIZABETH
REGION CODE ADDRESS : 700 LANCASTER ROAD
01 CITY : LUNENBERG
STATE/ZIP : MA 01462
MORTGAGE AMOUNT : 258,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,015.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,806.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031646870 MORTGAGORS: RICHARDSON RONALD
RICHARDSON SUSAN
REGION CODE ADDRESS : 731 W.MELISSA DRIVE
01 CITY : YARDLEY
STATE/ZIP : PA 19067
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,582.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,629.18 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
0 0031646896 MORTGAGORS: GALLO CHRISTOPHER
GALLO PATRICIA
REGION CODE ADDRESS : 2398 INDIGO DRIVE
01 CITY : EL CAJON
STATE/ZIP : CA 92019
MORTGAGE AMOUNT : 280,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,596.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,987.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 85.87156
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,327,200.00
P & I AMT: 9,148.07
UPB AMT: 1,326,016.03
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 66
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031649148 MORTGAGORS: SHERLOCK PAUL
DICKENS ROYCE
REGION CODE ADDRESS : 5711 25TH STREET NORTH
01 CITY : ARLINGTON
STATE/ZIP : VA 22207
MORTGAGE AMOUNT : 236,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,205.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,573.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031649528 MORTGAGORS: SNYDER DAVID
SNYDER EDITH
REGION CODE ADDRESS : 116 GREAT FALLS STREET
01 CITY : FALLS CHURCH
STATE/ZIP : VA 22046
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 379,680.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,496.33 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031649551 MORTGAGORS: BLACK JOSEPH
BLACK MARSHA
REGION CODE ADDRESS : 4921 NORWICH PLACE
01 CITY : NEWARK
STATE/ZIP : CA 94560
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,587.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,864.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.97200
----------------------------------------------------------------
0 0031650567 MORTGAGORS: GOGEL EDWARD
GREENBERG RUTH
REGION CODE ADDRESS : 2 OCEAN AVENUE
01 CITY : SWAMPSCOTT
STATE/ZIP : MA 01907
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 360,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,364.95 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 58.99200
----------------------------------------------------------------
0 0031650914 MORTGAGORS: RAND BLISS
RAND PAYSON
REGION CODE ADDRESS : 35 FALMOUTH STREET
01 CITY : BELMONT
STATE/ZIP : MA 02178
MORTGAGE AMOUNT : 321,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 321,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,167.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,568,300.00
P & I AMT: 10,467.57
UPB AMT: 1,567,223.82
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 67
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031651078 MORTGAGORS: POWELL R
POWELL SANDRA
REGION CODE ADDRESS : 204 63RD STREET
01 CITY : AVALON
STATE/ZIP : NJ 08202
MORTGAGE AMOUNT : 333,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 332,438.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,187.57 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 72.54900
----------------------------------------------------------------
0 0031651193 MORTGAGORS: FROMMACK THOMAS
FROMMACK HEATHER
REGION CODE ADDRESS : 32812 LEAH DRIVE
01 CITY : DANA POINT
STATE/ZIP : CA 92629
MORTGAGE AMOUNT : 262,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,046.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,768.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0031651896 MORTGAGORS: BOWMAN JOHN
BOWMAN SHEILA
REGION CODE ADDRESS : 30 THOMPSON AVENUE
01 CITY : HINGHAM
STATE/ZIP : MA 02043
MORTGAGE AMOUNT : 322,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 322,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,282.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031652522 MORTGAGORS: IBRAHIM SAHIR
SALIB VIVIAN
REGION CODE ADDRESS : 2 LENAPE DRIVE
01 CITY : SOMERSET
STATE/ZIP : NJ 08823
MORTGAGE AMOUNT : 269,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,797.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,880.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 76.57000
----------------------------------------------------------------
0 0031652597 MORTGAGORS: SERFILIPPI MARK
SERFILIPPI LAUREN
REGION CODE ADDRESS : 103 PLUMTREES ROAD
01 CITY : BETHEL
STATE/ZIP : CT 06801
MORTGAGE AMOUNT : 247,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,632.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,727.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,434,000.00
P & I AMT: 9,846.68
UPB AMT: 1,432,415.73
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 68
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031652977 MORTGAGORS: WHITTAKER KENNETH
WHITTAKER MARGARET
REGION CODE ADDRESS : 7 ENON ROAD
01 CITY : WENHAM
STATE/ZIP : MA 01984
MORTGAGE AMOUNT : 283,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,954.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.93800
----------------------------------------------------------------
0 0031653017 MORTGAGORS: PARKER BARBARA
ROACH MICHAEL
REGION CODE ADDRESS : 21 MARGARET DRIVE
01 CITY : SAG HARBOR
STATE/ZIP : NY 11963
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,149.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031653496 MORTGAGORS: PINKARD LOWELL
PINKARD LUANN
REGION CODE ADDRESS : 3 OVERHILL ROAD
01 CITY : ROME
STATE/ZIP : GA 30161
MORTGAGE AMOUNT : 233,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,317.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,592.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 50.76000
----------------------------------------------------------------
0 0031653553 MORTGAGORS: GROSSO JOHN
REGION CODE ADDRESS : 2018 RETREAT DRIVE
01 CITY : MECHANICSVILLE
STATE/ZIP : VA 23111
MORTGAGE AMOUNT : 425,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 425,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,791.95 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 75.22100
----------------------------------------------------------------
0 0031653587 MORTGAGORS: GRABOWSKI PHILIP
STEPHENS MARY ANN
REGION CODE ADDRESS : 11 GINGER BREAD ROAD
01 CITY : KINGS PARK
STATE/ZIP : NY 11754
MORTGAGE AMOUNT : 281,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,993.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,523,100.00
P & I AMT: 10,481.83
UPB AMT: 1,522,917.85
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 69
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031653835 MORTGAGORS: WEISS DANTON
WEISS JERI
REGION CODE ADDRESS : 29014 OLD CARRIAGE COURT
01 CITY : AGOURA HILLS
STATE/ZIP : CA 91301
MORTGAGE AMOUNT : 302,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 301,198.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,062.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 68.72700
----------------------------------------------------------------
0 0031654171 MORTGAGORS: ALAGHEMAND HAMID
RAMEZANBEIGI JAHANGIR
REGION CODE ADDRESS : 121 SOUTH NORFOLK STREET
01 CITY : SAN MATEO
STATE/ZIP : CA 94401
MORTGAGE AMOUNT : 234,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,676.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,696.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 69.85000
----------------------------------------------------------------
0 0031654544 MORTGAGORS: DIXON ELIZABETH
REGION CODE ADDRESS : 823 LENOX
01 CITY : GLEN ELLYN
STATE/ZIP : IL 60137
MORTGAGE AMOUNT : 267,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,844.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 76.28500
----------------------------------------------------------------
0 0031654767 MORTGAGORS: PEARSALL CATHERINE
REGION CODE ADDRESS : 14646 IBEX COURT
01 CITY : SAN DIEGO
STATE/ZIP : CA 92129
MORTGAGE AMOUNT : 232,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 231,627.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,563.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031655038 MORTGAGORS: BROWN CLAY
BROWN LISA
REGION CODE ADDRESS : 13030 CHAMPLAIN DRIVE
01 CITY : MANASSAS
STATE/ZIP : VA 20112
MORTGAGE AMOUNT : 262,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,558.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,721.15 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 75.96757
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,297,400.00
P & I AMT: 8,887.86
UPB AMT: 1,295,061.42
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 70
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031655129 MORTGAGORS: JUNG JAE
JUNG MI
REGION CODE ADDRESS : 48-04 192ND STREET
01 CITY : FRESH MEADOWS,
STATE/ZIP : NY 11355
MORTGAGE AMOUNT : 263,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,795.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031655327 MORTGAGORS: BLACK WARREN
BLACK DORIS
REGION CODE ADDRESS : 4377 LOWER RIVER ROAD
01 CITY : GRANTS PASS
STATE/ZIP : OR 97526
MORTGAGE AMOUNT : 283,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,278.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,933.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 46.47500
----------------------------------------------------------------
0 0031655525 MORTGAGORS: DOMINGUEZ ALONSO
DOMINGUEZ LAURA
REGION CODE ADDRESS : 715 YARDGLEN COURT
01 CITY : CO SPRINGS
STATE/ZIP : CO 80906
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,809.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,726.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 88.02800
----------------------------------------------------------------
0 0031655756 MORTGAGORS: LA ROSA RICHARD
LA ROSA PATRICIA
REGION CODE ADDRESS : 758 FIFTH STREET EAST
01 CITY : SONOMA
STATE/ZIP : CA 95476
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,804.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,911.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 65.06000
----------------------------------------------------------------
0 0031655947 MORTGAGORS: PUGLIESE PAUL
PUGLIESE TERESITA
REGION CODE ADDRESS : 317 VIA ANITA
01 CITY : TORRANCE
STATE/ZIP : CA 90277
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,776.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,886.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,346,700.00
P & I AMT: 9,253.62
UPB AMT: 1,345,869.28
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 71
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031656184 MORTGAGORS: ROFSKY MICHAEL
ROFSKY VANESSA
REGION CODE ADDRESS : 7 DOW DRIVE
01 CITY : HILLSBOROUGH
STATE/ZIP : NJ 08853
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,783.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,756.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031656309 MORTGAGORS: VAN HORNE EUGENE
REGION CODE ADDRESS : 7141 GRAND OAKS ROAD
01 CITY : DALLAS
STATE/ZIP : TX 75230
MORTGAGE AMOUNT : 237,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,137.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,640.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031656341 MORTGAGORS: PRICHARD GAIL
REGION CODE ADDRESS : 19 VIEWCREST CIRCLE
01 CITY : SOUTH SAN FRANCISCO
STATE/ZIP : CA 94080
MORTGAGE AMOUNT : 313,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 313,455.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,139.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.98400
----------------------------------------------------------------
0 0031656366 MORTGAGORS: ST AMAND DAVID
ST AMAND LISA
REGION CODE ADDRESS : 354 BURROUGHS ROAD
01 CITY : BOXBORO
STATE/ZIP : MA 01719
MORTGAGE AMOUNT : 504,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 503,230.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,481.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031656564 MORTGAGORS: BLOOM DANIEL
GIFFORD CAROL
REGION CODE ADDRESS : 1347 MICHAEL WAY
01 CITY : LANDSDALE
STATE/ZIP : PA 19446
MORTGAGE AMOUNT : 232,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 232,435.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,588.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,552,000.00
P & I AMT: 10,605.86
UPB AMT: 1,550,042.64
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 72
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031656820 MORTGAGORS: DUFFY GARY
DUFFY JULIE
REGION CODE ADDRESS : 13 ROSE AVENUE
01 CITY : MARBLEHEAD
STATE/ZIP : MA 01945
MORTGAGE AMOUNT : 319,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,203.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 86.44900
----------------------------------------------------------------
0 0031656861 MORTGAGORS: HOEFER KENNETH
HOEFER DIANE
REGION CODE ADDRESS : 445 DUNE ROAD
01 CITY : WESTHAMPTON BEACH
STATE/ZIP : NY 11978
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,503.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,244.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 72.22200
----------------------------------------------------------------
0 0031657018 MORTGAGORS: BARSH GERALD
BARSH KAREN
REGION CODE ADDRESS : 975 DEDHAM STREET
01 CITY : NEWTON
STATE/ZIP : MA 02459
MORTGAGE AMOUNT : 324,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 323,759.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,265.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031657026 MORTGAGORS: DIKE ROBERT
DIKE RUTH
REGION CODE ADDRESS : 19800 FALLING SPRINGS COURT
01 CITY : LAYTONSVILLE
STATE/ZIP : MD 20882
MORTGAGE AMOUNT : 299,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,041.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031657042 MORTGAGORS: BAUMANN PETER
BAUMANN MARGARET
REGION CODE ADDRESS : 36 GUINEA HOLLOW RD
01 CITY : LEBANON
STATE/ZIP : NJ 08833
MORTGAGE AMOUNT : 637,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 637,050.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,567.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,904,700.00
P & I AMT: 13,321.61
UPB AMT: 1,903,513.50
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 73
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031657059 MORTGAGORS: HANSON STEPHEN
HANSON MARY
REGION CODE ADDRESS : 1855 BAY RD UN 202D
01 CITY : VERO BEACH
STATE/ZIP : FL 32963
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,805.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,768.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031657802 MORTGAGORS: BERNABE MICHAEL
BERNABE DEENA
REGION CODE ADDRESS : 3243 BLUEBIRD CIRCLE
01 CITY : SIMI VALLEY
STATE/ZIP : CA 93063
MORTGAGE AMOUNT : 287,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,370.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,937.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0031657828 MORTGAGORS: HALL JOHN
HALL DAWN
REGION CODE ADDRESS : 11 KINGWOOD ROAD
01 CITY : OAKLAND
STATE/ZIP : CA 94619
MORTGAGE AMOUNT : 321,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 321,349.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,193.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.49300
----------------------------------------------------------------
0 0031657893 MORTGAGORS: GORDON JUDITH
NIELSEN LINDA
REGION CODE ADDRESS : 31 EAST STREET
01 CITY : GEORGETOWN
STATE/ZIP : MA 01833
MORTGAGE AMOUNT : 375,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 374,728.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,654.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 64.65500
----------------------------------------------------------------
0 0031658024 MORTGAGORS: BETHUREM RICHARD
BETHUREM CAROLYN
REGION CODE ADDRESS : 133 SOMERVELLE STREET
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22304
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,731.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,182.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,568,200.00
P & I AMT: 10,736.05
UPB AMT: 1,566,984.05
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 74
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031658164 MORTGAGORS: FINKLE CEDAR
REGION CODE ADDRESS : 7550 44TH AVENUE SW
01 CITY : SEATTLE
STATE/ZIP : WA 98136
MORTGAGE AMOUNT : 251,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,100.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,691.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 82.32700
----------------------------------------------------------------
0 0031658560 MORTGAGORS: SISCHO STEPHEN
SKOPP ROBERTA
REGION CODE ADDRESS : 1454 BROOKINGS TRAIL
01 CITY : TOPANGA
STATE/ZIP : CA 90290
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,769.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,940.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 72.00000
----------------------------------------------------------------
0 0031658578 MORTGAGORS: JOHNSON RANDALL
JOHNSON KATHY
REGION CODE ADDRESS : 145 ZINFANDEL CIRCLE
01 CITY : SCOTTS VALLEY
STATE/ZIP : CA 95066
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,798.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,697.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 58.46800
----------------------------------------------------------------
0 0031659071 MORTGAGORS: BASHEY ASAD
BASHEY SAKINA
REGION CODE ADDRESS : 13318 MANGO DR
01 CITY : DEL MAR
STATE/ZIP : CA 92014
MORTGAGE AMOUNT : 262,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,805.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,831.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 72.77700
----------------------------------------------------------------
0 0031659105 MORTGAGORS: BRAGE MICHAEL
TOVA YONINA
REGION CODE ADDRESS : 3652 WINDSWEPT TERR
01 CITY : SAN DIEGO
STATE/ZIP : CA 92130
MORTGAGE AMOUNT : 433,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 433,253.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,921.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,486,700.00
P & I AMT: 10,082.99
UPB AMT: 1,485,726.97
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 75
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031659220 MORTGAGORS: RODRIGUEZ ROBERT
CASEBEER JOAN
REGION CODE ADDRESS : 705 CARMEL AVENUE
01 CITY : SEAL BEACH
STATE/ZIP : CA 90740
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,762.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031659329 MORTGAGORS: STANDROWICZ STEVEN
STANDROWICZ DONNA
REGION CODE ADDRESS : 396 MEDEA CREEK LANE
01 CITY : AGOURA HILLS
STATE/ZIP : CA 91301
MORTGAGE AMOUNT : 332,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,753.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,321.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.45400
----------------------------------------------------------------
0 0031659444 MORTGAGORS: HAMILTON GEORGE
HAMILTON JILL
REGION CODE ADDRESS : 1602 FOXWOOD COURT
01 CITY : MIDLAND
STATE/ZIP : MI 46842
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,768.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,264.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.01200
----------------------------------------------------------------
0 0031659535 MORTGAGORS: CARNAHAN JAY
CARNAHAN KRIS
REGION CODE ADDRESS : 227 DRIFTWOOD ROAD
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92625
MORTGAGE AMOUNT : 562,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 562,061.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,837.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031659592 MORTGAGORS: BERGMANN CLOVER
REGION CODE ADDRESS : 118 MENDHAM ROAD
01 CITY : BERNARDSVILLE
STATE/ZIP : NJ 07924
MORTGAGE AMOUNT : 521,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 520,801.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,380.82 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,055,750.00
P & I AMT: 14,041.89
UPB AMT: 2,054,146.91
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 76
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031659774 MORTGAGORS: ROVIN SCOTT
ROVIN DEBORAH
REGION CODE ADDRESS : 24627 SENDA SALVIA
01 CITY : CALABASAS
STATE/ZIP : CA 91302
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,569.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,875.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 71.89500
----------------------------------------------------------------
0 0031659964 MORTGAGORS: RAIA FRANCIS
RAIA KATHERINE
REGION CODE ADDRESS : 28 EAGLE AVENUE
01 CITY : TAPPAN
STATE/ZIP : NY 10983
MORTGAGE AMOUNT : 239,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,822.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,671.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.92100
----------------------------------------------------------------
0 0031659998 MORTGAGORS: LEE RICHARD
REGION CODE ADDRESS : 10 ETON GREEN CIRCLE
01 CITY : SAN ANTONIO
STATE/ZIP : TX 78257
MORTGAGE AMOUNT : 378,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 377,131.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,610.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031660145 MORTGAGORS: HWANG JIN
HWANG SONG
REGION CODE ADDRESS : 14637 LOCUSTWOOD LN
01 CITY : SILVER SPRING
STATE/ZIP : MD 20905
MORTGAGE AMOUNT : 249,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,655.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,704.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031660251 MORTGAGORS: MAYERHOFER GERARD
MAYERHOFER LAURA
REGION CODE ADDRESS : 68 SUGAR MAPLE DRIVE
01 CITY : NEWTOWN SQUARE
STATE/ZIP : PA 19073
MORTGAGE AMOUNT : 355,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 355,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,453.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,497,050.00
P & I AMT: 10,315.55
UPB AMT: 1,495,379.19
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 77
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031660491 MORTGAGORS: DRISCOLL BRENDA
DRISCOLL JOHN
REGION CODE ADDRESS : 18 HARRISON STREET
01 CITY : WINCHESTER
STATE/ZIP : MA 01890
MORTGAGE AMOUNT : 460,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 460,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,138.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031660616 MORTGAGORS: STAPLES DANA
STAPLES KATHLEEN
REGION CODE ADDRESS : 72 ARROWHEAD ROAD
01 CITY : MARSHFIELD
STATE/ZIP : MA 02050
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,804.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,705.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 54.94500
----------------------------------------------------------------
0 0031660913 MORTGAGORS: WHITE DANIEL
WHITE MARY
REGION CODE ADDRESS : 9945 WILLEY COURT
01 CITY : GRANITE BAY
STATE/ZIP : CA 95746
MORTGAGE AMOUNT : 391,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 390,894.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,668.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031661077 MORTGAGORS: DAUTH FRANCESS
REGION CODE ADDRESS : 270 NORTH MOUNTAIN AVENUE
01 CITY : MONTCLAIR
STATE/ZIP : NJ 07042
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,093.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,194.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.89600
----------------------------------------------------------------
0 0031661515 MORTGAGORS: CHENEY KEVIN
CHENEY MARIAN
REGION CODE ADDRESS : 60 CLAYMONT DRIVE
01 CITY : EARLYSVILLE
STATE/ZIP : VA 22936
MORTGAGE AMOUNT : 322,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 322,129.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,117.94 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.60400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,733,600.00
P & I AMT: 11,824.25
UPB AMT: 1,731,922.84
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 78
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031661564 MORTGAGORS: BRODY PAMELA
BRODY DAVID
REGION CODE ADDRESS : 1418 RENE ROAD
01 CITY : LOWER MERION TOWNSHIP
STATE/ZIP : PA 19085
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,672.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,661.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.20700
----------------------------------------------------------------
0 0031661689 MORTGAGORS: DICAMILLO STEPHEN
DICAMILLO KIM
REGION CODE ADDRESS : 13 BARBERRY LANE
01 CITY : WEST NEWBURY
STATE/ZIP : MA 01985
MORTGAGE AMOUNT : 278,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,943.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.88500
----------------------------------------------------------------
0 0031661697 MORTGAGORS: GRYSZKIEWICZ ANDREW
GRYSZKIEWICZ SHANNON
REGION CODE ADDRESS : 40 KNOLLCREST ROAD
01 CITY : EASTON
STATE/ZIP : CT 06612
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,530.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,046.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.37600
----------------------------------------------------------------
0 0031661705 MORTGAGORS: MCDEVITT WILLIAM
MCDEVITT LISA
REGION CODE ADDRESS : 7 MARJAC WAY
01 CITY : MANSFIELD
STATE/ZIP : MA 02048
MORTGAGE AMOUNT : 279,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,976.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 94.99800
----------------------------------------------------------------
0 0031661739 MORTGAGORS: SCHERLIS DANIEL
ISRAEL SUSAN
REGION CODE ADDRESS : 111 DANE HILL ROAD
01 CITY : NEWTON
STATE/ZIP : MA 02461
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,417.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 54.68700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,607,200.00
P & I AMT: 11,045.10
UPB AMT: 1,606,402.65
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 79
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031661796 MORTGAGORS: STORCK PETER
MAGRAW MARION
REGION CODE ADDRESS : 23 SHADOW LANE
01 CITY : LARCHMONT
STATE/ZIP : NY 10538
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,072.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 71.17400
----------------------------------------------------------------
0 0031661846 MORTGAGORS: PEARSON CAROLINE
REGION CODE ADDRESS : 28 PROSPECT STREET
01 CITY : SHREWSBURY
STATE/ZIP : MA 01545
MORTGAGE AMOUNT : 355,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 355,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,302.53 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 89.87300
----------------------------------------------------------------
0 0031662000 MORTGAGORS: DEFELICE PAUL
DEFELICE SHEILA
REGION CODE ADDRESS : 130 LINDEN TREE ROAD
01 CITY : WILTON
STATE/ZIP : CT 06890
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,778.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,796.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031662018 MORTGAGORS: GILBERT DONALD
GILBERT CAROL
REGION CODE ADDRESS : 3711 REEDS LANDING CIRCLE
01 CITY : MIDLOTHIAN
STATE/ZIP : VA 23113
MORTGAGE AMOUNT : 300,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,815.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,046.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 73.18200
----------------------------------------------------------------
0 0031662075 MORTGAGORS: HEPPER BRYAN
WILLIAMS RITA
REGION CODE ADDRESS : 1117 ASHLAND AVENUE
01 CITY : WILMETTE
STATE/ZIP : IL 60091
MORTGAGE AMOUNT : 278,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,896.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 39.15400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,503,050.00
P & I AMT: 10,114.21
UPB AMT: 1,502,594.61
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 80
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031662133 MORTGAGORS: COTTRELL MICHAEL
COTTRELL MARJORIE
REGION CODE ADDRESS : 29 BUTTERNUT LANE
01 CITY : SIMSBURY
STATE/ZIP : CT 06070
MORTGAGE AMOUNT : 276,925.00 OPTION TO CONVERT :
UNPAID BALANCE : 276,708.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,889.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031662190 MORTGAGORS: WINNER ANDREW
ADLER ANN
REGION CODE ADDRESS : 67 HIGHVIEW AVENUE
01 CITY : MELROSE
STATE/ZIP : MA 02176
MORTGAGE AMOUNT : 244,625.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,625.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,668.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031662208 MORTGAGORS: KENYON E
REGION CODE ADDRESS : 5812 PINTAIL LANE
01 CITY : LONG GROVE
STATE/ZIP : IL 60047
MORTGAGE AMOUNT : 438,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 438,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,843.46 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031662224 MORTGAGORS: EBZERY JAMES
EBZERY ELAINE
REGION CODE ADDRESS : 58 OLDFIELD DR.
01 CITY : SHERBORN
STATE/ZIP : MA 01770
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,899.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 48.24500
----------------------------------------------------------------
0 0031662232 MORTGAGORS: IVANOV MARK
VICENS-IVANOV MARIA
REGION CODE ADDRESS : 1 CAPE ANN CIRCLE
01 CITY : IPSWICH
STATE/ZIP : MA 01938
MORTGAGE AMOUNT : 260,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,821.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 59.20400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,495,450.00
P & I AMT: 10,122.18
UPB AMT: 1,495,233.97
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 81
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031662273 MORTGAGORS: ELIASEN GREGORY
ELIASEN SUSAN
REGION CODE ADDRESS : 3 PAULINE DR
01 CITY : ANDOVER
STATE/ZIP : MA 01810
MORTGAGE AMOUNT : 254,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,732.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.77900
----------------------------------------------------------------
0 0031662570 MORTGAGORS: ZANONI RAYMOND
ZANONI RUTH
REGION CODE ADDRESS : 6306 NODDING NIGHT COURT
01 CITY : COLUMBIA
STATE/ZIP : MD 21044
MORTGAGE AMOUNT : 263,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,672.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,711.65 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0031662620 MORTGAGORS: JOY JEFFREY
JOY HOLLY
REGION CODE ADDRESS : 18 EQUESTRIAN DRIVE
01 CITY : NORTH READING
STATE/ZIP : MA 01864
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 340,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,319.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 59.44000
----------------------------------------------------------------
0 0031662653 MORTGAGORS: STALEY STEPHEN
STALEY NINA
REGION CODE ADDRESS : 60 AULDWOOD RD
01 CITY : STAMFORD
STATE/ZIP : CT 06902
MORTGAGE AMOUNT : 330,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 330,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,251.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031662901 MORTGAGORS: FOREMAN MICHAEL
FOREMAN CINDY
REGION CODE ADDRESS : 18 FOLEY DRIVE
01 CITY : SOUTHBOROUGH
STATE/ZIP : MA 01772
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,774.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,783.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.46100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,442,900.00
P & I AMT: 9,797.96
UPB AMT: 1,442,447.41
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 82
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031662968 MORTGAGORS: MELTZ JOEL
MELTZ ELIZABETH
REGION CODE ADDRESS : 12 BLACKBERRY LANE
01 CITY : ANDOVER
STATE/ZIP : MA 01810
MORTGAGE AMOUNT : 316,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 316,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,209.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 71.01100
----------------------------------------------------------------
0 0031662976 MORTGAGORS: KATSH ETHAN
KATSH-SCHWARTZ BEVERLY
REGION CODE ADDRESS : 67 RICHARD ROAD
01 CITY : NEEDHAM
STATE/ZIP : MA 02492
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,754.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,148.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 70.15500
----------------------------------------------------------------
0 0031663016 MORTGAGORS: DAVIS JAMES
DAVIS SHERRI
REGION CODE ADDRESS : 100 SAGAMORE STREET
01 CITY : HAMILTON
STATE/ZIP : MA 01982
MORTGAGE AMOUNT : 259,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,810.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 65.56900
----------------------------------------------------------------
0 0031663198 MORTGAGORS: BILALI KUJTIM
BILALI MARY
REGION CODE ADDRESS : 810 LIVINGSTON COURT
01 CITY : BOROUGH OF PARAMUS
STATE/ZIP : NJ 07652
MORTGAGE AMOUNT : 265,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,798.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,830.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 77.94100
----------------------------------------------------------------
0 0031663263 MORTGAGORS: SIMONS ROBERT
SIMONS VICTORIA
REGION CODE ADDRESS : 600 GRAPETREE DR UNIT6B-S
01 CITY : KEY BISCAYNE
STATE/ZIP : FL 33149
MORTGAGE AMOUNT : 418,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 417,361.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,887.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 69.66600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,573,000.00
P & I AMT: 10,886.66
UPB AMT: 1,571,914.55
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 83
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031663321 MORTGAGORS: SINGER MICHAEL
EASTMAN SALLY
REGION CODE ADDRESS : 1170 EL SOLYO HEIGHTS DRIVE
01 CITY : FELTON
STATE/ZIP : CA 95018
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,772.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,991.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031663354 MORTGAGORS: ROBERTSON BRYAN
REGION CODE ADDRESS : 10449 MARY AVENUE
01 CITY : CUPERTINO
STATE/ZIP : CA 95014
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,812.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,637.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031663859 MORTGAGORS: LINSTROM JEFFERY
LINSTROM H
REGION CODE ADDRESS : 708 HILLSIDE
01 CITY : GLEN ELLYN
STATE/ZIP : IL 60137
MORTGAGE AMOUNT : 293,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 293,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,978.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031664279 MORTGAGORS: DU HADWAY JAMES
DU HADWAY FAELYNN
REGION CODE ADDRESS : 110 NORTH COUNTY ROAD #21
01 CITY : BERTHOUD
STATE/ZIP : CO 80513
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,641.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,862.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 76.50200
----------------------------------------------------------------
0 0031664287 MORTGAGORS: ERICKSON BRIAN
JORDAN SAMANTHA
REGION CODE ADDRESS : 2740 5TH STREET
01 CITY : BOULDER
STATE/ZIP : CO 80304
MORTGAGE AMOUNT : 254,948.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,739.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,696.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 76.56000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,360,548.00
P & I AMT: 9,166.25
UPB AMT: 1,359,565.79
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 84
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031664428 MORTGAGORS: HENDRIX DENNIS
HENDRIX ALLYSON
REGION CODE ADDRESS : 8110 PLANTATION WAY
01 CITY : CUMMING
STATE/ZIP : GA 30040
MORTGAGE AMOUNT : 279,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,552.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,879.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 85.84600
----------------------------------------------------------------
0 0031664493 MORTGAGORS: DOLL N.
DOLL LINDA
REGION CODE ADDRESS : 1701 LOURAY
01 CITY : BATON ROUGE
STATE/ZIP : LA 70808
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,760.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,021.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 61.98300
----------------------------------------------------------------
0 0031664717 MORTGAGORS: FRANZBLAU SCOTT
FRANZBLAU BONNIE SUE
REGION CODE ADDRESS : 22 JOSEPH STREET
01 CITY : MANALAPAN
STATE/ZIP : NJ 07726
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 315,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,122.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 63.00000
----------------------------------------------------------------
0 0031664774 MORTGAGORS: GUMASTE ULHAS
GUMASTE GEETA
REGION CODE ADDRESS : 10 MONTEREY COURT
01 CITY : HOLMDEL
STATE/ZIP : NJ 07733
MORTGAGE AMOUNT : 388,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 388,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,646.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 70.54500
----------------------------------------------------------------
0 0031664790 MORTGAGORS: JENSEN RANDALL
JENSEN SARITA
REGION CODE ADDRESS : 281 CHAPEL HILL RD
01 CITY : ATLANTIC HIGHLAND
STATE/ZIP : NJ 07716
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,726.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 66.66666
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,532,000.00
P & I AMT: 10,396.59
UPB AMT: 1,531,312.55
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 85
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031664824 MORTGAGORS: JOYCE JOHN
JOYCE MARY
REGION CODE ADDRESS : 312 WINDERMERE AVE
01 CITY : INTERLAKEN
STATE/ZIP : NJ 07712
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,712.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 77.01800
----------------------------------------------------------------
0 0031664865 MORTGAGORS: KRUVANT FRED
KRUVANT FELICIA
REGION CODE ADDRESS : 4 THAMES DRIVE
01 CITY : LIVINGSTON
STATE/ZIP : NJ 07039
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,072.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 27.27200
----------------------------------------------------------------
0 0031664881 MORTGAGORS: KRUVANT ROBERT
KRUVANT MELINDA
REGION CODE ADDRESS : 7 KANNADAY ROAD
01 CITY : MENDHAM TOWNSHIP
STATE/ZIP : NJ 07945
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 650,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,750.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/23
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 65.00000
----------------------------------------------------------------
0 0031664949 MORTGAGORS: ZIMMERMAN MARK
ZIMMERMAN DONNA
REGION CODE ADDRESS : 17 MEADOWVIEW DRIVE
01 CITY : BROOKFIELD
STATE/ZIP : CT 06804
MORTGAGE AMOUNT : 259,920.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,722.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,795.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031664998 MORTGAGORS: CHIMEL ALAN
CHIMEL THERESA
REGION CODE ADDRESS : 704 WATER OAK DRIVE
01 CITY : PLANO
STATE/ZIP : TX 75025
MORTGAGE AMOUNT : 265,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,194.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,834.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,723,520.00
P & I AMT: 12,165.26
UPB AMT: 1,722,916.78
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 86
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031665508 MORTGAGORS: ACOCELLA GREGORY
ACOCELLA TERESE
REGION CODE ADDRESS : 15 TREELINE DRIVE
01 CITY : ANNANDALE
STATE/ZIP : NJ 08801
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,556.64 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 89.88700
----------------------------------------------------------------
0 0031665607 MORTGAGORS: CUPO MICHAEL
D'ULISSE-CUPO MARIA
REGION CODE ADDRESS : 258 HILL STREET
01 CITY : LEOMINSTER
STATE/ZIP : MA 01453
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,783.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,968.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.16600
----------------------------------------------------------------
0 0031665714 MORTGAGORS: SALM CLIFFORD
SALM AMY
REGION CODE ADDRESS : 310 DEVON ROAD
01 CITY : TENAFLY
STATE/ZIP : NJ 08236
MORTGAGE AMOUNT : 525,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 525,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,626.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031665722 MORTGAGORS: SANDLER STEVEN
SANDLER LISA
REGION CODE ADDRESS : 25 TIMBER LANE
01 CITY : RANDOLPH
STATE/ZIP : NJ 07869
MORTGAGE AMOUNT : 408,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 408,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,852.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.22300
----------------------------------------------------------------
0 0031665748 MORTGAGORS: TURNBULL KENNETH
TURNBULL DONNA
REGION CODE ADDRESS : 70 SHERWOOD ROAD
01 CITY : RIDGEWOOD
STATE/ZIP : NJ 07450
MORTGAGE AMOUNT : 293,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 293,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,048.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 69.76100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,751,000.00
P & I AMT: 12,052.62
UPB AMT: 1,750,783.13
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 87
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031665763 MORTGAGORS: WOHLGEMUTH JERROLD
WOHLGEMUTH SUSAN
REGION CODE ADDRESS : 2 NORTHRIDGE WAY
01 CITY : WARREN
STATE/ZIP : NJ 07059
MORTGAGE AMOUNT : 341,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 341,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,384.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 84.19700
----------------------------------------------------------------
0 0031665946 MORTGAGORS: MADDOCKS BARBARA
SWAIN STEPHEN
REGION CODE ADDRESS : 271 FAIRMOUNT AVENUE
01 CITY : CHATHAM
STATE/ZIP : NJ 07928
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,542.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,072.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031665987 MORTGAGORS: MAGOVERN CHRISTOPHER
MAGOVERN JOHANNA
REGION CODE ADDRESS : 14 OAKLAWN ROAD
01 CITY : SUMMIT
STATE/ZIP : NJ 07901
MORTGAGE AMOUNT : 369,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 368,650.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,581.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031666043 MORTGAGORS: HOFFMAN RUSSELL
HOFFMAN XIOMARA
REGION CODE ADDRESS : 6 HEATHER COURT
01 CITY : BERKELEY HEIGHTS
STATE/ZIP : NJ 07922
MORTGAGE AMOUNT : 416,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 415,683.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,873.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031666233 MORTGAGORS: BOKOR EVAN
BOKOR CINDY
REGION CODE ADDRESS : 176-178 HAMMERTOWN ROAD
01 CITY : MONROE
STATE/ZIP : CT 06468
MORTGAGE AMOUNT : 299,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 298,760.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,014.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.94600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,725,200.00
P & I AMT: 11,925.49
UPB AMT: 1,723,636.68
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 88
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031666365 MORTGAGORS: STRONG ELIZABETH
WOZNY GEOFFREY
REGION CODE ADDRESS : 11 BARNES ROAD WEST
01 CITY : STAMFORD
STATE/ZIP : CT 06902
MORTGAGE AMOUNT : 430,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 428,674.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,824.79 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.62900
----------------------------------------------------------------
0 0031666415 MORTGAGORS: KISTLER YONG
REGION CODE ADDRESS : 17047 TIMBER RIDGE DRIVE
01 CITY : GRANADA HILLS
STATE/ZIP : CA 91344
MORTGAGE AMOUNT : 258,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,925.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,828.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031666803 MORTGAGORS: MERSHON JOHN
MERSHON JANIE
REGION CODE ADDRESS : 311 JEFFERSON DRIVE
01 CITY : MALVERN
STATE/ZIP : PA 19355
MORTGAGE AMOUNT : 320,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 320,000.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,184.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031666886 MORTGAGORS: TERAN EDWIN
SHEIKHOLESLAMI GUITA
REGION CODE ADDRESS : 13419 DROXFORD STREET
01 CITY : CERRITOS
STATE/ZIP : CA 90703
MORTGAGE AMOUNT : 296,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,457.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,075.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 89.96969
----------------------------------------------------------------
0 0031667017 MORTGAGORS: PATTERSON GERALD
REGION CODE ADDRESS : 1120-1122 DOLORES STREET
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94110
MORTGAGE AMOUNT : 386,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 385,713.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,698.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 62.76420
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,691,450.00
P & I AMT: 11,612.64
UPB AMT: 1,688,771.64
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 89
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031667157 MORTGAGORS: HAY DAVID
HAY DAISY
REGION CODE ADDRESS : 429 CHESTNUT LAND ROAD
01 CITY : NEW MILFORD
STATE/ZIP : CT 06776
MORTGAGE AMOUNT : 229,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 228,863.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,506.01 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0031667223 MORTGAGORS: VANDERWENDE KENNETH
VANDERWENDE MARIJANE
REGION CODE ADDRESS : 4251 MONROE ROAD
01 CITY : MIDLAND
STATE/ZIP : MI 48642
MORTGAGE AMOUNT : 345,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 344,750.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,441.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.82400
----------------------------------------------------------------
0 0031667710 MORTGAGORS: WATERS JOHN
WATERS NATALIE
REGION CODE ADDRESS : 3503 RUSHTON RD
01 CITY : FAIRFAX
STATE/ZIP : VA 22033
MORTGAGE AMOUNT : 349,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,384.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.45400
----------------------------------------------------------------
0 0031667884 MORTGAGORS: BERKY PETER
BERKY DIANA
REGION CODE ADDRESS : 14222 NW FALCONRIDGE LANE
01 CITY : PORTLAND
STATE/ZIP : OR 97229
MORTGAGE AMOUNT : 260,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,336.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,733.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 59.89600
----------------------------------------------------------------
0 0031668007 MORTGAGORS: JAROSINSKI PATRICK
JAROSINSKI ELLEN
REGION CODE ADDRESS : 7800 OVERBROOK RD
01 CITY : BALTIMORE
STATE/ZIP : MD 21204
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,750.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,182.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.41800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,504,400.00
P & I AMT: 10,249.21
UPB AMT: 1,503,300.78
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 90
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031668080 MORTGAGORS: CALLABRESI DEBRA
MOREN KELLYLYNN
REGION CODE ADDRESS : 4047 FARMDALE AVENUE
01 CITY : NORTH HOLLYWOOD
STATE/ZIP : CA 91604
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,785.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,805.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.49200
----------------------------------------------------------------
0 0031668106 MORTGAGORS: KOTE PETER
WILLEY-KOTE BARBARA
REGION CODE ADDRESS : 1105 MIRAMAR STREET
01 CITY : LAGUNA BEACH
STATE/ZIP : CA 92651
MORTGAGE AMOUNT : 376,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 375,411.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,564.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.50200
----------------------------------------------------------------
0 0031668825 MORTGAGORS: MADDEN THOMAS
SHERRIFFS PAUL
REGION CODE ADDRESS : 102 LAKE DRIVE
01 CITY : STERLING
STATE/ZIP : VA 20164
MORTGAGE AMOUNT : 229,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 229,402.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,489.18 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031668882 MORTGAGORS: HACKMANN RUSSELL
REGION CODE ADDRESS : 542 EAST BEACH ROAD
01 CITY : CHARLESTOWN
STATE/ZIP : RI 02813
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,750.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,182.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031668957 MORTGAGORS: GOODMAN STEVEN
REGION CODE ADDRESS : 306 NORTH DOWNEY LANE
01 CITY : PLACENTIA
STATE/ZIP : CA 92870
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,744.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,155.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.41800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,513,600.00
P & I AMT: 10,198.59
UPB AMT: 1,512,094.05
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 91
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031668965 MORTGAGORS: MERCER JAMES
MERCER DONNA
REGION CODE ADDRESS : 159 W. LANDING
01 CITY : WILLIAMSBURG
STATE/ZIP : VA 23185
MORTGAGE AMOUNT : 1,000,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 999,239.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 6,906.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 015
LTV : 55.55500
----------------------------------------------------------------
0 0031669146 MORTGAGORS: SONES DANIEL
SONES ANNA
REGION CODE ADDRESS : 218 S. BENTLEY AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90049
MORTGAGE AMOUNT : 533,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 533,493.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,687.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 48.53600
----------------------------------------------------------------
0 0031669278 MORTGAGORS: DESIMONE DAVID
DESIMONE SUSAN
REGION CODE ADDRESS : 2105 CASTLETON CT
01 CITY : WALL TWSP
STATE/ZIP : NJ 08720
MORTGAGE AMOUNT : 245,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,674.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031669310 MORTGAGORS: LANGDON MARK
LANGDON BERNADETTE
REGION CODE ADDRESS : 1623 HERRON LANE
01 CITY : WEST CHESTER
STATE/ZIP : PA 19380
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,817.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031669476 MORTGAGORS: PULZONE JOSEPH
PULZONE ROBYN
REGION CODE ADDRESS : 31 EUGENE CT
01 CITY : WASHINGTON TWP
STATE/ZIP : NJ 07675
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,915.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/18
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.95900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,279,300.00
P & I AMT: 16,001.43
UPB AMT: 2,278,132.82
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 92
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031669526 MORTGAGORS: SCHWARTZENTRUBER DOUGLAS
WHITE DIANE
REGION CODE ADDRESS : 9811 BALD CYPRESS DRIVE
01 CITY : ROCKVILLE
STATE/ZIP : MD 20850
MORTGAGE AMOUNT : 446,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 446,034.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,969.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031669609 MORTGAGORS: WILLIAMS RALPH
WILLIAMS LISA
REGION CODE ADDRESS : 10 BUENA VISTA DRIVE
01 CITY : HOWELL
STATE/ZIP : NJ 07728
MORTGAGE AMOUNT : 260,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,801.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.03000
----------------------------------------------------------------
0 0031669724 MORTGAGORS: SANTA-EMMA PHILIP
SANTA-EMMA SUSAN
REGION CODE ADDRESS : 7681 KESTREL WAY
01 CITY : DUBLIN
STATE/ZIP : OH 43017
MORTGAGE AMOUNT : 251,570.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,373.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,716.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.99900
----------------------------------------------------------------
0 0031669823 MORTGAGORS: SMITH CHRISTOPHER
SMITH TINA
REGION CODE ADDRESS : 22 ROSEWOOD LANE
01 CITY : DENVILLE
STATE/ZIP : NJ 07834
MORTGAGE AMOUNT : 391,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 390,779.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,737.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031669831 MORTGAGORS: KUGLER EDWARD
REGION CODE ADDRESS : 1850 SPRUCE AVENUE
01 CITY : HIGHLAND PARK
STATE/ZIP : IL 60035
MORTGAGE AMOUNT : 375,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 375,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,590.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 56.99000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,725,270.00
P & I AMT: 11,814.83
UPB AMT: 1,723,987.18
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 93
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031669849 MORTGAGORS: PRICKITT DAVID
PRICKITT KRISTIN
REGION CODE ADDRESS : 804 STEVENS AVENUE
01 CITY : WESTFIELD
STATE/ZIP : NJ 07090
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,799.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,887.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031670128 MORTGAGORS: ROBINS JERROLD
ROBINS PAMELA
REGION CODE ADDRESS : 35 HILL DRIVE
01 CITY : EAST GREENWICH
STATE/ZIP : RI 02818
MORTGAGE AMOUNT : 338,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 338,136.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,308.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031670169 MORTGAGORS: HARLOR DONALD
HARLOR PATRICIA
REGION CODE ADDRESS : 275 BANFF WAY
01 CITY : PETALUMA
STATE/ZIP : CA 94952
MORTGAGE AMOUNT : 295,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,738.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,013.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031670292 MORTGAGORS: VARON BRUCE
VARON JILL
REGION CODE ADDRESS : 20233 PARADISE LANE
01 CITY : TOPANGA
STATE/ZIP : CA 90290
MORTGAGE AMOUNT : 573,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 573,324.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,011.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031670391 MORTGAGORS: FONTANA PAUL
FONTANA SHAUNA
REGION CODE ADDRESS : 445 AVENUE E
01 CITY : REDONDO BEACH
STATE/ZIP : CA 90277
MORTGAGE AMOUNT : 336,975.00 OPTION TO CONVERT :
UNPAID BALANCE : 336,691.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,213.69 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 77.46500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,814,325.00
P & I AMT: 12,435.58
UPB AMT: 1,812,689.78
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 94
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031670425 MORTGAGORS: FIELDS RHODELL
CHARLES-FIELDS SYBIL
REGION CODE ADDRESS : 9307 MACSWAIN PLACE
01 CITY : SPRINGFIELD
STATE/ZIP : VA 22153
MORTGAGE AMOUNT : 282,625.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,204.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,976.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031670482 MORTGAGORS: LEARY MARY
LIN RICHARD
REGION CODE ADDRESS : 1432 FOREST AVENUE
01 CITY : EVANSTON
STATE/ZIP : IL 60201
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,387.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 48.14300
----------------------------------------------------------------
0 0031670706 MORTGAGORS: MCCOLLISTER SCOTT
FRUTCHEY CYLE
REGION CODE ADDRESS : 2133 SANTA ROSA AVENUE
01 CITY : ALTADENA AREA
STATE/ZIP : CA 91001
MORTGAGE AMOUNT : 237,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,314.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,620.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031670748 MORTGAGORS: DILLON EDWARD
DILLON ELISABETH
REGION CODE ADDRESS : 536 MORNINGSIDE ROAD
01 CITY : RIDGEWOOD
STATE/ZIP : NJ 07450
MORTGAGE AMOUNT : 303,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,066.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.73600
----------------------------------------------------------------
0 0031670888 MORTGAGORS: GOGGINS THOMAS
HOLM INGRID
REGION CODE ADDRESS : 113 COUNTRY WAY
01 CITY : NEEDHAM
STATE/ZIP : MA 02492
MORTGAGE AMOUNT : 332,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 332,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,296.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 56.83700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,505,625.00
P & I AMT: 10,347.44
UPB AMT: 1,505,018.92
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 95
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031670946 MORTGAGORS: GRADY R
GRADY SUSAN
REGION CODE ADDRESS : 1985 GENERAL ALEXANDER DRIVE
01 CITY : MALVERN
STATE/ZIP : PA 19355
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,486.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,234.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/18
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 38.35600
----------------------------------------------------------------
0 0031670987 MORTGAGORS: JOY ROBERT
JOY MARILYN
REGION CODE ADDRESS : 35 MANOR HILL DRIVE
01 CITY : TEWKSBURY
STATE/ZIP : MA 01876
MORTGAGE AMOUNT : 277,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 276,972.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,844.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031671001 MORTGAGORS: RAMIERI JOSEPH
RAMIERI GERALDINE
REGION CODE ADDRESS : 26 NORTH RIDGE ROAD
01 CITY : DENVILLE
STATE/ZIP : NJ 07834
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 400,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,728.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.60100
----------------------------------------------------------------
0 0031671142 MORTGAGORS: KLIATCHKO VLADIMIR
KLIATCHKO MARIA
REGION CODE ADDRESS : 3 CRESCENT LANE
01 CITY : DOBBS FERRY
STATE/ZIP : NY 10522
MORTGAGE AMOUNT : 276,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,789.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,906.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031671183 MORTGAGORS: BROWN ROBERT
BROWN MADDALENA
REGION CODE ADDRESS : 2700 BRADBURY COURT
01 CITY : DAVIDSONVILLE
STATE/ZIP : MD 21035
MORTGAGE AMOUNT : 288,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 288,574.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,970.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.05200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,522,000.00
P & I AMT: 10,683.64
UPB AMT: 1,520,823.98
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 96
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031671233 MORTGAGORS: CORSI LAWRENCE
CORSI MARYANNE
REGION CODE ADDRESS : 289 BARRINGTON DRIVE
01 CITY : BRIDGEWATER
STATE/ZIP : NJ 08807
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 304,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,125.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031671241 MORTGAGORS: ROSSI WILLIAM
ROSSI THERESA
REGION CODE ADDRESS : 79 HIDDEN GLEN DRIVE
01 CITY : SPARTA
STATE/ZIP : NJ 07871
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,044.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 84.81300
----------------------------------------------------------------
0 0031671324 MORTGAGORS: MAICHLE LYNN
REGION CODE ADDRESS : 113 ANTRIM STREET UNIT #1
01 CITY : CAMBRIDGE
STATE/ZIP : MA 02138
MORTGAGE AMOUNT : 283,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,045.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,910.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031671522 MORTGAGORS: KRIGSMAN JAY
KRIGSMAN TRACY
REGION CODE ADDRESS : 1 CHERRY HILL DRIVE
01 CITY : COTO DE CAZA
STATE/ZIP : CA 92679
MORTGAGE AMOUNT : 480,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 479,643.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,356.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 60.00000
----------------------------------------------------------------
0 0031671886 MORTGAGORS: HOLFORD JOHN
HOLFORD DIANE
REGION CODE ADDRESS : 1722 36TH AVE
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94109
MORTGAGE AMOUNT : 356,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 355,715.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,398.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,719,500.00
P & I AMT: 11,834.69
UPB AMT: 1,718,404.30
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 97
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031671985 MORTGAGORS: MORALES BENITO
MALAVE SANDRA
REGION CODE ADDRESS : 83 LITTLE HILL DRIVE
01 CITY : STAMFORD
STATE/ZIP : CT 06905
MORTGAGE AMOUNT : 382,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 382,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,641.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031672330 MORTGAGORS: WHEELUS RONALD
WHEELUS TRUDI
REGION CODE ADDRESS : 1261 SEQUOIA COURT
01 CITY : HOLLISTER
STATE/ZIP : CA 95023
MORTGAGE AMOUNT : 291,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,193.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,989.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 94.99800
----------------------------------------------------------------
0 0031672710 MORTGAGORS: MAKRIS NICK
REGION CODE ADDRESS : 13706 GOOSEFOOT TERRACE
01 CITY : ROCKVILLE,
STATE/ZIP : MD 20850
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 379,703.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,592.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 68.96500
----------------------------------------------------------------
0 0031673569 MORTGAGORS: DE MARCO FRANK
REGION CODE ADDRESS : 2002 BAKERS MILL ROAD
01 CITY : DACULA
STATE/ZIP : GA 30019
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,784.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,819.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 72.67800
----------------------------------------------------------------
0 0031673742 MORTGAGORS: RISGIN ANNE
JONES DAVID
REGION CODE ADDRESS : 4 MANCHESTER ROAD
01 CITY : WINCHESTER
STATE/ZIP : MA 01890
MORTGAGE AMOUNT : 313,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 313,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,139.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,637,750.00
P & I AMT: 11,182.02
UPB AMT: 1,636,781.24
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 98
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031674187 MORTGAGORS: CUNNINGHAM RICHARD
CUNNINGHAM JANE
REGION CODE ADDRESS : 40 LONGHORN RIDGE ROAD
01 CITY : NAPA
STATE/ZIP : CA 94558
MORTGAGE AMOUNT : 306,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 305,742.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,010.20 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 37.09000
----------------------------------------------------------------
0 0031674203 MORTGAGORS: JAEGER STUART
JAEGER KAREN
REGION CODE ADDRESS : 7863 VALLEY FLORES DRIVE
01 CITY : CANOGA PARK AREA
STATE/ZIP : CA 91304
MORTGAGE AMOUNT : 258,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,783.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,694.88 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 71.66600
----------------------------------------------------------------
0 0031674823 MORTGAGORS: HOULE GILLES
LANCASTER-HOULE MAVIS
REGION CODE ADDRESS : 2868 SAN CARLOS DRIVE
01 CITY : WALNUT CREEK
STATE/ZIP : CA 94598
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,785.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,875.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 85.93700
----------------------------------------------------------------
0 0031674898 MORTGAGORS: WALBURN ALLEN
WALBURN ROBIN
REGION CODE ADDRESS : 11655 CEBADA COURT
01 CITY : SAN DIEGO
STATE/ZIP : CA 92124
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,808.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,948.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031675036 MORTGAGORS: SANDERS JOHN
SANDERS NANCY
REGION CODE ADDRESS : 6502 LEBEC PLACE
01 CITY : RANCHO PALOS VERDES
STATE/ZIP : CA 90275
MORTGAGE AMOUNT : 455,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 454,627.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,027.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 72.80000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,566,000.00
P & I AMT: 10,556.85
UPB AMT: 1,564,746.71
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 99
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031675135 MORTGAGORS: WALSH ELAINE
WALSH WILLIAM
REGION CODE ADDRESS : 530 WOODMOORE COURT
01 CITY : ATLANTA
STATE/ZIP : GA 30342
MORTGAGE AMOUNT : 352,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 351,775.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,401.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
0 0031675465 MORTGAGORS: LEONG JOHN
CLADOUHOS CHARIS
REGION CODE ADDRESS : 18 CHURCH STREET
01 CITY : NEWTON
STATE/ZIP : MA 02458
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,123.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 72.28900
----------------------------------------------------------------
0 0031675598 MORTGAGORS: TAYLOR DONALD
TAYLOR J. MARIE
REGION CODE ADDRESS : 100 MEADOWBROOK RD
01 CITY : RANDOLPH
STATE/ZIP : NJ 07869
MORTGAGE AMOUNT : 258,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,781.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 77.01400
----------------------------------------------------------------
0 0031675754 MORTGAGORS: HRIN STEPHEN
HRIN RITA
REGION CODE ADDRESS : 160 WOODCREST LANE
01 CITY : DOYLESTOWN
STATE/ZIP : PA 18901
MORTGAGE AMOUNT : 273,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,937.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031676752 MORTGAGORS: ZILLER GLENNIE
REGION CODE ADDRESS : 810 2ND STREET
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22314
MORTGAGE AMOUNT : 253,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,392.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,687.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,437,400.00
P & I AMT: 9,931.75
UPB AMT: 1,436,917.48
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 100
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031676992 MORTGAGORS: LEE DAVID
LEE ANN
REGION CODE ADDRESS : 24 SEASIDE DRIVE
01 CITY : S BETHANY BEACH
STATE/ZIP : DE 19930
MORTGAGE AMOUNT : 365,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 364,456.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,552.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 62.07400
----------------------------------------------------------------
0 0031677412 MORTGAGORS: MOWRY SCOTT
REGION CODE ADDRESS : 77 ADMIRALS LANE
01 CITY : LACONIA
STATE/ZIP : NH 03246
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,800.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,684.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.75700
----------------------------------------------------------------
0 0031677461 MORTGAGORS: SLATER JONATHAN
SLATER OLGA
REGION CODE ADDRESS : 112 LONGVIEW DRIVE
01 CITY : LONGMEADOW
STATE/ZIP : MA 01106
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,697.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031677578 MORTGAGORS: SLOWEY DOMINIC
SLOWEY KATHLEEN
REGION CODE ADDRESS : 246 LEDGEWOOD DRIVE
01 CITY : HANOVER
STATE/ZIP : MA 02335
MORTGAGE AMOUNT : 353,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 353,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,468.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 76.73900
----------------------------------------------------------------
0 0031677974 MORTGAGORS: LEWIS GREGORY
LEWIS MARGARET
REGION CODE ADDRESS : 20783 QUIET BROOK PLACE
01 CITY : STERLING
STATE/ZIP : VA 20165
MORTGAGE AMOUNT : 280,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,713.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,845.64 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.99100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,500,950.00
P & I AMT: 10,248.07
UPB AMT: 1,499,970.59
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 101
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031679350 MORTGAGORS: GORDONI ALAN
GORDONI LINDA
REGION CODE ADDRESS : 24492 CHAMALEA
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92691
MORTGAGE AMOUNT : 260,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,596.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,779.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031679566 MORTGAGORS: SEAMAN JAMES
SEAMAN LORNA
REGION CODE ADDRESS : 17419 151ST AVENUE NORTHEAST
01 CITY : WOODINVILLE
STATE/ZIP : WA 98072
MORTGAGE AMOUNT : 267,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,546.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,849.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 85.00000
----------------------------------------------------------------
0 0031679673 MORTGAGORS: ABRAMS HOWARD
ABRAMS KATHY
REGION CODE ADDRESS : 2812 VICTORIA PLACE
01 CITY : PALOS VERDES ESTATES
STATE/ZIP : CA 90274
MORTGAGE AMOUNT : 506,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 505,595.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,409.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 67.46600
----------------------------------------------------------------
0 0031679962 MORTGAGORS: LAURITA GERALD
LAURITA MARY
REGION CODE ADDRESS : 28 SLUMBER CORNERS
01 CITY : WESTON
STATE/ZIP : CT 06883
MORTGAGE AMOUNT : 370,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 370,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,587.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 57.81200
----------------------------------------------------------------
0 0031680044 MORTGAGORS: HURWITZ MARK
HURWITZ ELLEN
REGION CODE ADDRESS : 5824 WILKINSON AVENUE
01 CITY : NORTH HOLLYWOOD AREA
STATE/ZIP : CA 91607
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,804.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,643.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,648,550.00
P & I AMT: 11,268.40
UPB AMT: 1,647,543.05
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 102
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031680267 MORTGAGORS: KOELFGEN EDWARD
KOELFGEN EDNA
REGION CODE ADDRESS : 12807 FALCON DRIVE
01 CITY : APPLE VALLEY
STATE/ZIP : MN 55124
MORTGAGE AMOUNT : 261,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,946.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,781.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 94.99000
----------------------------------------------------------------
0 0031680440 MORTGAGORS: SINGLER RICK
SINGLER NANETTE
REGION CODE ADDRESS : 491 LEEWAY TRAIL
01 CITY : ORMOND BEACH
STATE/ZIP : FL 32174
MORTGAGE AMOUNT : 282,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,774.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,899.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.21000
----------------------------------------------------------------
0 0031680721 MORTGAGORS: COFFEY BRYAN
COFFEY PATRICIA
REGION CODE ADDRESS : 9701 BROOKSTONE LANE
01 CITY : VIENNA
STATE/ZIP : VA 22182
MORTGAGE AMOUNT : 367,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 367,013.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,505.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 73.46000
----------------------------------------------------------------
0 0031680747 MORTGAGORS: ARENT RAYMOND
ARENT LESLIE
REGION CODE ADDRESS : 26 CAROLINE AVENUE
01 CITY : SETAUKET
STATE/ZIP : NY 11733
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,771.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,072.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 76.92300
----------------------------------------------------------------
0 0031680770 MORTGAGORS: DONLON BRIAN
DONLON RENA
REGION CODE ADDRESS : 111 NORTH COMPO ROAD
01 CITY : WESTPORT
STATE/ZIP : CT 06880
MORTGAGE AMOUNT : 333,675.00 OPTION TO CONVERT :
UNPAID BALANCE : 333,401.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,219.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,544,125.00
P & I AMT: 10,479.01
UPB AMT: 1,542,907.45
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 103
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031680812 MORTGAGORS: FIGUEROA ABNER
FIGUEROA CHRISTINE
REGION CODE ADDRESS : 2 LIGHTFOOT DRIVE
01 CITY : MANALAPAN
STATE/ZIP : NJ 07726
MORTGAGE AMOUNT : 295,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,769.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,012.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 76.62300
----------------------------------------------------------------
0 0031680838 MORTGAGORS: LEVIN NEIL
LEVIN ELLEN
REGION CODE ADDRESS : 11915 DEVILWOOD DRIVE
01 CITY : POTOMAC
STATE/ZIP : MD 20584
MORTGAGE AMOUNT : 253,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,802.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,725.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.84600
----------------------------------------------------------------
0 0031681836 MORTGAGORS: SCHMUTZ KARL
STARR MARIA
REGION CODE ADDRESS : 148 WEST AVENIDA DE LOS LOBOS MARIN
01 CITY : SAN CLEMENTE
STATE/ZIP : CA 92672
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,797.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,773.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 67.53200
----------------------------------------------------------------
0 0031681968 MORTGAGORS: WEIKART CHRISTOPHER
PONCET-MONTANGE ANNE
REGION CODE ADDRESS : 55 RANDLETT PARK
01 CITY : WEST NEWTON
STATE/ZIP : MA 02465
MORTGAGE AMOUNT : 356,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 356,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,309.01 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031682065 MORTGAGORS: LEE SEUNG
LEE SOOKEI
REGION CODE ADDRESS : 13720 VISROY AVENUE
01 CITY : CERRITOS
STATE/ZIP : CA 90706
MORTGAGE AMOUNT : 259,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,814.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,812.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,423,200.00
P & I AMT: 9,633.37
UPB AMT: 1,422,183.73
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 104
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031682255 MORTGAGORS: FAHY JAMES
REGION CODE ADDRESS : 13831 DURANGO DRIVE
01 CITY : SAN DIEGO
STATE/ZIP : CA 92014
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,680.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,694.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 89.98800
----------------------------------------------------------------
0 0031682610 MORTGAGORS: JORDAN SCOTT
JORDAN LORI
REGION CODE ADDRESS : 10 GOLF ROAD
01 CITY : EDISON
STATE/ZIP : NJ 08820
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,779.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,151.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031682800 MORTGAGORS: ATILANO GUILLERMO
RAMIREZ-ATILANO ROSANNE
REGION CODE ADDRESS : 6025 WASHINGTON AVENUE
01 CITY : WHITTIER
STATE/ZIP : CA 90601
MORTGAGE AMOUNT : 289,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,584.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,026.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031683030 MORTGAGORS: SHINE JOSEPH
FONOROFF CARON
REGION CODE ADDRESS : 13 BROOKWOOD DRIVE
01 CITY : WEST CALDWELL
STATE/ZIP : NJ 07006
MORTGAGE AMOUNT : 254,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,711.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.87400
----------------------------------------------------------------
0 0031683535 MORTGAGORS: ABEDI ESRAFIL
ABEDI SHAHLA
REGION CODE ADDRESS : 22892 OCEANBREEZE WAY
01 CITY : LAGUNA NIGUEL
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 648,469.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,434.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 41.26900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,897,800.00
P & I AMT: 13,018.29
UPB AMT: 1,895,514.62
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 105
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031683550 MORTGAGORS: LEIBOWITZ ERIC
LEIBOWITZ RUTH
REGION CODE ADDRESS : 353 LINCOLN STREET
01 CITY : LEXINGTON
STATE/ZIP : MA 02421
MORTGAGE AMOUNT : 297,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,951.08 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 68.27500
----------------------------------------------------------------
0 0031684194 MORTGAGORS: STAUCH BRUCE
STAUCH JUDITH
REGION CODE ADDRESS : 561 BLUE SKY CIRCLE
01 CITY : SIMI VALLEY
STATE/ZIP : CA 93065
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,745.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,062.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 73.80900
----------------------------------------------------------------
0 0031684202 MORTGAGORS: CUMMINS LENDELL
CUMMINS KATHY
REGION CODE ADDRESS : 8457 HOVENWEEP COURT
01 CITY : SAN DIEGO
STATE/ZIP : CA 92129
MORTGAGE AMOUNT : 243,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,900.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,617.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 94.99800
----------------------------------------------------------------
0 0031684251 MORTGAGORS: ORTOLANO PETER
ORTOLANO DIANE
REGION CODE ADDRESS : 5901 NORTH NEWARK
01 CITY : CHICAGO
STATE/ZIP : IL 60631
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,773.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 65.82278
----------------------------------------------------------------
0 0031684285 MORTGAGORS: VERBARO MICHAEL
VERBARO KATHERINE
REGION CODE ADDRESS : 44 WALNUT STREET
01 CITY : NEW PROVIDENCE BORO
STATE/ZIP : NJ 07974
MORTGAGE AMOUNT : 317,928.00 OPTION TO CONVERT :
UNPAID BALANCE : 317,928.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,115.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 85.46400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,428,028.00
P & I AMT: 9,519.72
UPB AMT: 1,427,574.62
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 106
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031684418 MORTGAGORS: PARK JIN
PARK HEE
REGION CODE ADDRESS : 12 ENSLIN ROAD
01 CITY : NEEDHAM
STATE/ZIP : MA 02492
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 65.93400
----------------------------------------------------------------
0 0031684467 MORTGAGORS: CRAYTHORN SCOTT
CRAYTHORN RHONDA
REGION CODE ADDRESS : 9211 LOMIDA LANE
01 CITY : LOOMIS
STATE/ZIP : CA 95650
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,773.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,978.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.33300
----------------------------------------------------------------
0 0031684582 MORTGAGORS: CASSETTA JAMES
CASSETTA CAROL
REGION CODE ADDRESS : 512 LOMITA AVENUE
01 CITY : MILLBRAE
STATE/ZIP : CA 94030
MORTGAGE AMOUNT : 295,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,758.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,962.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.72900
----------------------------------------------------------------
0 0031684848 MORTGAGORS: SAFARNEJADARABI REZA
KASSIRI KATRIN
REGION CODE ADDRESS : 10405 OVERGATE PLACE
01 CITY : POTOMAC
STATE/ZIP : MD 20854
MORTGAGE AMOUNT : 277,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,743.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,943.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 94.98505
----------------------------------------------------------------
0 0031684939 MORTGAGORS: WEISS ANDREW
NIEDERGANG EVE
REGION CODE ADDRESS : 15 FORESTER DRIVE
01 CITY : PRINCETON
STATE/ZIP : NJ 08540
MORTGAGE AMOUNT : 273,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,770.68 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 65.78313
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,435,950.00
P & I AMT: 9,752.75
UPB AMT: 1,435,275.68
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 107
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031684996 MORTGAGORS: FRANKEL HOWARD
FRANKEL CYNTHIA
REGION CODE ADDRESS : 96 FARDALE AVE
01 CITY : MAHWAH
STATE/ZIP : NJ 07430
MORTGAGE AMOUNT : 274,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,791.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,892.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 71.30700
----------------------------------------------------------------
0 0031685001 MORTGAGORS: INGWER MARK
INGWER KATHRYN
REGION CODE ADDRESS : 472 W DEMING PLACE
01 CITY : CHICAGO
STATE/ZIP : IL 60614
MORTGAGE AMOUNT : 373,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 373,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,548.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031685092 MORTGAGORS: SHAW JAMES
SHAW MARGARET
REGION CODE ADDRESS : 2142 SPRING HILL COURT
01 CITY : SMYRNA
STATE/ZIP : GA 30080
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,517.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,996.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/18
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 71.83000
----------------------------------------------------------------
0 0031685142 MORTGAGORS: KIELTY BRIAN
KIELTY DREMA
REGION CODE ADDRESS : 1006 NEWINGTON WAY
01 CITY : APEX
STATE/ZIP : NC 27502
MORTGAGE AMOUNT : 239,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,950.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,677.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 94.59900
----------------------------------------------------------------
0 0031685308 MORTGAGORS: ROLOFF VERNON
REEVE LISA
REGION CODE ADDRESS : 5161 GENESTA
01 CITY : LOS ANGELES (ENCINO AREA)
STATE/ZIP : CA 91316
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,771.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,153.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,450,550.00
P & I AMT: 10,268.62
UPB AMT: 1,449,630.79
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 108
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031685324 MORTGAGORS: GRAVES JAMES
GRAVES CYNTHIA
REGION CODE ADDRESS : 2491 IRON FORGE ROAD
01 CITY : OAK HILL
STATE/ZIP : VA 20171
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,692.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 69.60200
----------------------------------------------------------------
0 0031685357 MORTGAGORS: GUPTA VIBHA
GUPTA SUBHASH
REGION CODE ADDRESS : 11877 DARBY AVENUE
01 CITY : NORTHRIDGE AREA
STATE/ZIP : CA 91326
MORTGAGE AMOUNT : 334,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 334,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,254.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 78.08600
----------------------------------------------------------------
0 0031685381 MORTGAGORS: ARROW PAUL
WADE MARILYN
REGION CODE ADDRESS : 1033 HI POINT STREET
01 CITY : LOS ANGELES
STATE/ZIP : CA 90035
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,774.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,292.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031685423 MORTGAGORS: PHILLIPPE MITCH
PHILLIPPE MARIE
REGION CODE ADDRESS : 2049 PARK DALE LANE
01 CITY : ENCINITAS
STATE/ZIP : CA 92024
MORTGAGE AMOUNT : 238,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,335.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,729.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031685480 MORTGAGORS: CONNAUGHTON LEONARD
CONNAUGHTON SUSAN
REGION CODE ADDRESS : 62 HUTCHINSON ROAD
01 CITY : ARLINGTON
STATE/ZIP : MA 02174
MORTGAGE AMOUNT : 486,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 485,611.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,274.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 69.42800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,624,100.00
P & I AMT: 11,242.50
UPB AMT: 1,623,321.38
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 109
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031685597 MORTGAGORS: EPPINGER MARK
EPPINGER COLETTE
REGION CODE ADDRESS : 130 VISTA ROYALE
01 CITY : PALM DESERT
STATE/ZIP : CA 92260
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,553.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 76.92300
----------------------------------------------------------------
0 0031685845 MORTGAGORS: PEDOWITZ DANIEL
PEDOWITZ LOIS
REGION CODE ADDRESS : 12710 TRIPLE CROWN RD
01 CITY : GAITHERSBURG
STATE/ZIP : MD 20878
MORTGAGE AMOUNT : 274,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,285.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,872.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031685878 MORTGAGORS: FRAME JEFF
FRAME ELAINE
REGION CODE ADDRESS : 4237 BEULAH DRIVE
01 CITY : LA CANADA-FLINTRIDGE
STATE/ZIP : CA 91011
MORTGAGE AMOUNT : 480,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 479,643.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,356.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 57.14200
----------------------------------------------------------------
0 0031686058 MORTGAGORS: SUBRAMANIAN SAKTHI
SUNDARESAN SANDHYA
REGION CODE ADDRESS : 1121 MILLER AVENUE
01 CITY : SAN JOSE
STATE/ZIP : CA 95129
MORTGAGE AMOUNT : 301,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,851.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,106.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.25900
----------------------------------------------------------------
0 0031686348 MORTGAGORS: GABAY VLADIMIR
GABAY INNA
REGION CODE ADDRESS : 8 WINDEMERE WAY
01 CITY : WOODBURY
STATE/ZIP : NY 11797
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 649,517.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,544.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 72.22200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,005,800.00
P & I AMT: 13,978.09
UPB AMT: 2,003,851.94
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 110
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031686645 MORTGAGORS: QUINN PATRICK
QUINN CARLEEN
REGION CODE ADDRESS : 14051 CORTEZ COURT
01 CITY : BROOMFIELD
STATE/ZIP : CO 80020
MORTGAGE AMOUNT : 370,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 369,711.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,524.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031688054 MORTGAGORS: WINER DENNIS
WINER LISA
REGION CODE ADDRESS : 3444 DANIELA CT
01 CITY : CALABASAS
STATE/ZIP : CA 91302
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,728.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,290.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 48.57100
----------------------------------------------------------------
0 0031688492 MORTGAGORS: CRADY RICHARD
CRADY TRACY
REGION CODE ADDRESS : 27810 MOUNT RAINIER WAY
01 CITY : YORBA LINDA
STATE/ZIP : CA 92887
MORTGAGE AMOUNT : 416,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 415,875.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,839.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.99300
----------------------------------------------------------------
0 0031688740 MORTGAGORS: OMIDSALAR MAHMOUD
OMIDSALAR TERESA
REGION CODE ADDRESS : 6272 DEERFIELD AVENUE
01 CITY : SAN GABRIEL
STATE/ZIP : CA 91775
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,789.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,642.32 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 64.10200
----------------------------------------------------------------
0 0031688930 MORTGAGORS: WITT MALCOLM
WITT MARSHA
REGION CODE ADDRESS : 120 SOUTH ISLAND DRIVE
01 CITY : GOLDEN BEACH
STATE/ZIP : FL 33160
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,726.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,387.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 41.66600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,726,200.00
P & I AMT: 11,683.85
UPB AMT: 1,724,831.73
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 111
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031688955 MORTGAGORS: TIPOGRAPH NEIL
TIPOGRAPH JILL
REGION CODE ADDRESS : 78 FAIRVIEW AVENUE
01 CITY : WOODCLIFF LAKE (BORO)
STATE/ZIP : NJ 07675
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 340,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,377.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031689201 MORTGAGORS: MYERS PATRICK
MYERS SANDRA
REGION CODE ADDRESS : 973 HANDFORTH COVE
01 CITY : COLLIERVILLE
STATE/ZIP : TN 38017
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,821.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,678.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 89.97100
----------------------------------------------------------------
0 0031689540 MORTGAGORS: WEEKS JOHN
KIMBALL JEANA
REGION CODE ADDRESS : 3345 59TH AVENUE SOUTHWEST
01 CITY : SEATTLE
STATE/ZIP : WA 98116
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 320,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,182.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.72700
----------------------------------------------------------------
0 0031689888 MORTGAGORS: CLARK WILLIAM
O'BRINE-CLARK MARY
REGION CODE ADDRESS : 4827 86TH AVE SE
01 CITY : MERCER ISLAND
STATE/ZIP : WA 98040
MORTGAGE AMOUNT : 336,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,737.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,292.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031689896 MORTGAGORS: MCGRATH FINBARR
WINSTON-MCGRATH TAYLOR
REGION CODE ADDRESS : 24 LAKESIDE TERRACE
01 CITY : WESTFORD
STATE/ZIP : MA 01886
MORTGAGE AMOUNT : 328,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 328,623.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,160.64 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 89.99400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,564,900.00
P & I AMT: 10,691.16
UPB AMT: 1,564,183.45
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 112
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031689920 MORTGAGORS: BURNS ROBERT
BYRNE PATRICIA
REGION CODE ADDRESS : 1370 WALNUT STREET
01 CITY : NEWTON
STATE/ZIP : MA 02161
MORTGAGE AMOUNT : 287,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,723.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,292.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/18
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031689953 MORTGAGORS: VERMILYEA JAMES
SCHLERMAN FRANKLIN
REGION CODE ADDRESS : 111 CEDAR STREET
01 CITY : MEDFORD
STATE/ZIP : MA 02155
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,812.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,762.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031690670 MORTGAGORS: RINKER LAINE
RINKER KELLII
REGION CODE ADDRESS : 78920 CITRUS
01 CITY : LA QUINTA
STATE/ZIP : CA 92253
MORTGAGE AMOUNT : 550,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 549,560.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,705.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 67.48400
----------------------------------------------------------------
0 0031690746 MORTGAGORS: MIELKE WALTER
MIELKE RUTH
REGION CODE ADDRESS : 1705 LOMA VISTA STREET
01 CITY : PASADENA
STATE/ZIP : CA 91104
MORTGAGE AMOUNT : 356,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 355,722.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,428.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031691249 MORTGAGORS: TAPIA CARLOS
TAPIA MARCELA
REGION CODE ADDRESS : 5723 DAVIS CIRCLE
01 CITY : ROHNERT PARK
STATE/ZIP : CA 94928
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,801.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,873.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,713,250.00
P & I AMT: 12,062.09
UPB AMT: 1,711,619.76
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 113
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031691660 MORTGAGORS: OWEN GEORGE
REGION CODE ADDRESS : 653 PROSPECT STREET
01 CITY : MAPLEWOOD
STATE/ZIP : NJ 07040
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,750.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,182.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.60100
----------------------------------------------------------------
0 0031691710 MORTGAGORS: ARROWOOD STEVE
ARROWOOD CARYN
REGION CODE ADDRESS : 781 VIA DEL MONTE
01 CITY : PALOS VERDES ESTATES
STATE/ZIP : CA 90274
MORTGAGE AMOUNT : 545,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 544,188.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,810.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 72.66600
----------------------------------------------------------------
0 0031692304 MORTGAGORS: CARVER DON
QUIROZ KELLY
REGION CODE ADDRESS : 1134 STEEPLECHASE LANE
01 CITY : CUPERTINO
STATE/ZIP : CA 95014
MORTGAGE AMOUNT : 358,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 358,134.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,505.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031692494 MORTGAGORS: QUARMBY HERBERT
QUARMBY BARBARA
REGION CODE ADDRESS : 6112 WOODMONT RD
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22307
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,819.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,769.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 49.80000
----------------------------------------------------------------
0 0031692676 MORTGAGORS: FELICETTA ANTHONY
FELICETTA BARBARA
REGION CODE ADDRESS : 18 CHAMPIONS WAY
01 CITY : MANALAPAN TWP.
STATE/ZIP : NJ 07726
MORTGAGE AMOUNT : 297,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,929.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,077.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,770,550.00
P & I AMT: 12,346.88
UPB AMT: 1,768,821.43
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 114
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031692726 MORTGAGORS: JAKIMAS ERIC
JAKIMAS KELLIE
REGION CODE ADDRESS : 6915 OLDE ATLANTA PARKWAY
01 CITY : SUWANEE
STATE/ZIP : GA 30024
MORTGAGE AMOUNT : 253,787.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,584.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,709.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99900
----------------------------------------------------------------
0 0031693096 MORTGAGORS: PRIDJIAN JOHN
REGION CODE ADDRESS : 4804 CROWN AVENUE
01 CITY : LA CANADA FLINTRIDGE (ARE
STATE/ZIP : CA 91011
MORTGAGE AMOUNT : 303,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,274.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,122.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 71.41100
----------------------------------------------------------------
0 0031693310 MORTGAGORS: SABBAGH JOHN
SABBAGH SULMA
REGION CODE ADDRESS : 1 FILLOW STREET
01 CITY : WESTPORT
STATE/ZIP : CT 06880
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,776.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,886.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031693534 MORTGAGORS: BORSAND STEVEN
BORSAND AMY
REGION CODE ADDRESS : 130 LARKDALE ROAD
01 CITY : DEERFIELD
STATE/ZIP : IL 60015
MORTGAGE AMOUNT : 261,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,780.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 66.32700
----------------------------------------------------------------
0 0031693567 MORTGAGORS: BERANEK MARGARET
REGION CODE ADDRESS : 14 MALCOLM ROAD
01 CITY : JAMAICA PLAIN
STATE/ZIP : MA 02130
MORTGAGE AMOUNT : 239,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,633.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,337,687.00
P & I AMT: 9,131.97
UPB AMT: 1,337,034.90
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 115
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031693690 MORTGAGORS: GRAY JOSEPH
GRAY LINDA
REGION CODE ADDRESS : 12030 PANHANDLE DRIVE
01 CITY : HAMPTON
STATE/ZIP : GA 30228
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,756.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,128.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031694037 MORTGAGORS: VAUPEL SCOTT
VAUPEL SUSAN
REGION CODE ADDRESS : 688 MOUNTAIN VIEW ROAD
01 CITY : EL CAJON
STATE/ZIP : CA 92021
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,793.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,878.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031694474 MORTGAGORS: SNYDER ROBERT
SNYDER ALISON
REGION CODE ADDRESS : 130 RENAISSANCE DRIVE
01 CITY : CHERRY HILL
STATE/ZIP : NJ 08003
MORTGAGE AMOUNT : 245,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,038.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,590.69 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031694748 MORTGAGORS: SHAPIRO JOHN
SHAPIRO GERI
REGION CODE ADDRESS : 550 24TH STREET
01 CITY : HERMOSA BEACH
STATE/ZIP : CA 90254
MORTGAGE AMOUNT : 630,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 629,544.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,459.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0031694862 MORTGAGORS: HARE T
HARE BETH
REGION CODE ADDRESS : 220 TRIANON LANE
01 CITY : VILLANOVA
STATE/ZIP : PA 19085
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,752.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,244.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 52.41900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,784,250.00
P & I AMT: 12,301.51
UPB AMT: 1,782,885.21
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 116
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031695059 MORTGAGORS: BUCHHOLZ CARL
BUCHHOLZ KAREN
REGION CODE ADDRESS : 7034 REDCOAT DRIVE
01 CITY : WHITEMARSH TOWNSHIP
STATE/ZIP : PA 19031
MORTGAGE AMOUNT : 273,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,491.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,890.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.99600
----------------------------------------------------------------
0 0031695158 MORTGAGORS: ANDERSON HERBERT
ANDERSON JANE
REGION CODE ADDRESS : 135 FULLER LANE
01 CITY : WINNETKA
STATE/ZIP : IL 60093
MORTGAGE AMOUNT : 445,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 445,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,886.26 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 64.02800
----------------------------------------------------------------
0 0031695182 MORTGAGORS: GAJEWSKI JOSEPH
GAJEWSKI HAZEL
REGION CODE ADDRESS : 220 ROUND HILL ROAD
01 CITY : FREEHOLD
STATE/ZIP : NJ 07728
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,657.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 55.81300
----------------------------------------------------------------
0 0031695265 MORTGAGORS: TATTERSON TODD
TATTERSON KELEE
REGION CODE ADDRESS : 4706 SOUTHWEST STEVENS STREET
01 CITY : SEATTLE
STATE/ZIP : WA 98116
MORTGAGE AMOUNT : 232,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 232,568.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,587.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031695273 MORTGAGORS: ARKINS THOMAS
ARKINS MARILYN
REGION CODE ADDRESS : 24 LONGVIEW DRIVE
01 CITY : RIDGEFIELD
STATE/ZIP : CT 06877
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,678.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 73.39400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,431,450.00
P & I AMT: 9,700.15
UPB AMT: 1,431,060.16
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 117
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031695422 MORTGAGORS: TRITES MICHAEL
DUCKWORTH SUZANNE
REGION CODE ADDRESS : 641 NORTH VALLEY FORGE ROAD
01 CITY : DEVON
STATE/ZIP : PA 19333
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,016.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 87.95100
----------------------------------------------------------------
0 0031695638 MORTGAGORS: NABORS DAVID
NABORS DARLENE
REGION CODE ADDRESS : 165 WILLOW WAY
01 CITY : ROSWELL
STATE/ZIP : GA 30075
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 379,688.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,528.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031695745 MORTGAGORS: MALLOW MICHAEL
MALLOW AMY
REGION CODE ADDRESS : 11533 DONA DOAROTEA DRIVE
01 CITY : LOS ANGELES
STATE/ZIP : CA 91604
MORTGAGE AMOUNT : 440,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 439,698.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,964.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 89.98900
----------------------------------------------------------------
0 0031696289 MORTGAGORS: SCOTT GRAHAM
SCOTT MARY
REGION CODE ADDRESS : 3302 MARINO DRIVE
01 CITY : RANCHO PALOS VERDES
STATE/ZIP : CA 90275
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,746.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,217.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 65.13000
----------------------------------------------------------------
0 0031696305 MORTGAGORS: KANG DANNY
KANG CINDY
REGION CODE ADDRESS : 1921 GLENDON AVENUE #401
01 CITY : LOS ANGELES
STATE/ZIP : CA 90025
MORTGAGE AMOUNT : 265,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,307.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,879.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,702,550.00
P & I AMT: 11,605.89
UPB AMT: 1,701,440.92
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 118
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031696396 MORTGAGORS: JORDAN PATRICK
JORDAN PIERRETTE
REGION CODE ADDRESS : 19257 CELTIC STREET
01 CITY : NORTHRIDGE AREA
STATE/ZIP : CA 91326
MORTGAGE AMOUNT : 251,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,804.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,712.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 78.68300
----------------------------------------------------------------
0 0031696420 MORTGAGORS: SEARS JONATHAN
SEARS BARBARA
REGION CODE ADDRESS : 11307 ROBERT CARTER ROAD
01 CITY : FAIRFAX STATION
STATE/ZIP : VA 22039
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,748.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,893.91 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031696495 MORTGAGORS: CONNORS MAUREEN
REGION CODE ADDRESS : 17 MANN HILL ROAD
01 CITY : SCITUATE
STATE/ZIP : MA 02066
MORTGAGE AMOUNT : 267,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,781.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,776.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 89.89800
----------------------------------------------------------------
0 0031696503 MORTGAGORS: BAUER BARRY
BAUER STEPHANIE
REGION CODE ADDRESS : 11932 DAVENPORT ROAD
01 CITY : LOS ALMITOS
STATE/ZIP : CA 90720
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,764.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,839.40 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 77.77700
----------------------------------------------------------------
0 0031696545 MORTGAGORS: MILGRAM BARBARA
REGION CODE ADDRESS : 8748 LOOKOUT MOUNTAIN AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90046
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,769.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,019.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,386,000.00
P & I AMT: 9,241.18
UPB AMT: 1,384,867.78
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 119
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031696602 MORTGAGORS: GOSSELIN RICHARD
GOSSELIN DONNA
REGION CODE ADDRESS : 33841 BLUE LANTERN STREET
01 CITY : DANA POINT
STATE/ZIP : CA 92629
MORTGAGE AMOUNT : 279,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,270.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,859.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 63.52200
----------------------------------------------------------------
0 0031696834 MORTGAGORS: POWELL ORRIN
STORCK JEAN
REGION CODE ADDRESS : 4321 WOODWAY STREET
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22312
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,731.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,102.17 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031696891 MORTGAGORS: BUTCHER BRADLEY
BUTCHER HEIDI
REGION CODE ADDRESS : 9924 CARRARA CIRCLE
01 CITY : CYPRESS
STATE/ZIP : CA 90630
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,791.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,038.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031697063 MORTGAGORS: BUSHAW DEWEY
BUSHAW MARGARET
REGION CODE ADDRESS : 29132 ALFIERI STREET
01 CITY : LAGUNA NIGUEL
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 348,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 347,728.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,373.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.04200
----------------------------------------------------------------
0 0031697089 MORTGAGORS: TROXLER MICHAEL
REGION CODE ADDRESS : 2711 RINCONIA PLACE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90068
MORTGAGE AMOUNT : 457,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 457,143.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,120.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,693,000.00
P & I AMT: 11,495.08
UPB AMT: 1,691,665.24
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 120
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031697105 MORTGAGORS: SELVIN HILLARY
ANDERSON BONNIE
REGION CODE ADDRESS : 6248 WEST 85TH PLACE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90045
MORTGAGE AMOUNT : 274,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,654.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,869.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.42000
----------------------------------------------------------------
0 0031697139 MORTGAGORS: ZACK RORY
ZACK PATTY
REGION CODE ADDRESS : 6326 SIERRA ELENA ROAD
01 CITY : IRVINE
STATE/ZIP : CA 92612
MORTGAGE AMOUNT : 266,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,076.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,749.40 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 76.08571
----------------------------------------------------------------
0 0031697220 MORTGAGORS: PIERCE W
PIERCE MARY
REGION CODE ADDRESS : 222 NEW LONDON TURNPIKE
01 CITY : RICHMOND
STATE/ZIP : RI 02898
MORTGAGE AMOUNT : 265,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,785.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.81900
----------------------------------------------------------------
0 0031697295 MORTGAGORS: ADLER ALLISON
REGION CODE ADDRESS : 128 NORTH KILKEA DRIVE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90048
MORTGAGE AMOUNT : 251,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,818.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,776.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 71.71400
----------------------------------------------------------------
0 0031697311 MORTGAGORS: ZHENG JIAN
REGION CODE ADDRESS : 980 WANDERING DRIVE
01 CITY : MONTEREY PARK
STATE/ZIP : CA 91754
MORTGAGE AMOUNT : 256,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,214.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,814.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 89.96400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,312,700.00
P & I AMT: 8,995.28
UPB AMT: 1,311,763.66
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 121
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031697329 MORTGAGORS: CAVERLY BRADY
CAVERLY MARY
REGION CODE ADDRESS : 1236 NORTH CEDAR STREET
01 CITY : GLENDALE
STATE/ZIP : CA 91207
MORTGAGE AMOUNT : 412,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 411,694.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,880.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031697360 MORTGAGORS: EPSTEIN GARY
EPSTEIN SHEILA
REGION CODE ADDRESS : 4005 CORTE CANCION
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91360
MORTGAGE AMOUNT : 252,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,312.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,765.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 77.69200
----------------------------------------------------------------
0 0031697378 MORTGAGORS: ADLHOCH JOSEPH
REGION CODE ADDRESS : 526 AZURE HILLS DRIVE
01 CITY : SIMI VALLEY
STATE/ZIP : CA 93065
MORTGAGE AMOUNT : 253,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,311.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,772.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 71.40800
----------------------------------------------------------------
0 0031697402 MORTGAGORS: DEHN KLAUS
ROOBIAN JAN
REGION CODE ADDRESS : 1771 GREENWICH STREET
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94123
MORTGAGE AMOUNT : 395,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 394,691.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,694.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 41.57800
----------------------------------------------------------------
0 0031697519 MORTGAGORS: JONES KATHERINE
REGION CODE ADDRESS : 1240 NORTH FULLER AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90046
MORTGAGE AMOUNT : 279,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,976.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,881.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,592,200.00
P & I AMT: 10,994.43
UPB AMT: 1,590,987.29
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 122
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031697535 MORTGAGORS: HORNY JOHN
HORNY SUSAN
REGION CODE ADDRESS : 1369 SKYWOOD CIRCLE
01 CITY : ALTADENA
STATE/ZIP : CA 91001
MORTGAGE AMOUNT : 384,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 383,685.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,554.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031697543 MORTGAGORS: SIEGEL JOSEPH
SIEGEL CHARLENE
REGION CODE ADDRESS : 5227 EMERALD ST.
01 CITY : TORRANCE
STATE/ZIP : CA 90503
MORTGAGE AMOUNT : 364,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 363,701.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,421.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031697550 MORTGAGORS: WRIGHT KENNETH
WRIGHT CYNTHIA
REGION CODE ADDRESS : 33816 COLEGIO DRIVE
01 CITY : DANA POINT,
STATE/ZIP : CA 92629
MORTGAGE AMOUNT : 276,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,768.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,813.12 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031697741 MORTGAGORS: PECK MATTHEW
MOVIUS MARGARET
REGION CODE ADDRESS : 1804 ELM AVENUE
01 CITY : MANHATTAN BEACH
STATE/ZIP : CA 90266
MORTGAGE AMOUNT : 534,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 533,961.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,555.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031697758 MORTGAGORS: CROSSLEY TREVOR
CROSSLEY ROXANNE
REGION CODE ADDRESS : 1015 GLASGOW PLACE
01 CITY : DANVILLE
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 343,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 342,945.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,399.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,901,600.00
P & I AMT: 12,744.69
UPB AMT: 1,900,062.22
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 123
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031697931 MORTGAGORS: O'GRADY PATRICK
O'GRADY DIANE
REGION CODE ADDRESS : 1621 MONTMORENCY DRIVE
01 CITY : VIENNA
STATE/ZIP : VA 22182
MORTGAGE AMOUNT : 319,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,644.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,155.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99499
----------------------------------------------------------------
0 0031698277 MORTGAGORS: SUAREZ MICHAEL
SUAREZ PATRICIA
REGION CODE ADDRESS : 2315 PLACID WAY
01 CITY : ANN ARBOR
STATE/ZIP : MI 48105
MORTGAGE AMOUNT : 239,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,658.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,615.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 94.99000
----------------------------------------------------------------
0 0031698293 MORTGAGORS: FORREY RIP
RITCHIE DIANE
REGION CODE ADDRESS : 10040 OLD REDWOOD HIGHWAY
01 CITY : PENNGROVE
STATE/ZIP : CA 94951
MORTGAGE AMOUNT : 270,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,167.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,753.81 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031698335 MORTGAGORS: PUMA DOMINICK
PUMA JOANNE
REGION CODE ADDRESS : 370 NECTAR COURT
01 CITY : GILROY
STATE/ZIP : CA 95020
MORTGAGE AMOUNT : 272,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,550.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,929.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 94.99800
----------------------------------------------------------------
0 0031698376 MORTGAGORS: BASSETT JEFFREY
WILLIS MICHAEL
REGION CODE ADDRESS : 4054 54TH AVENUE SOUTHWEST
01 CITY : SEATTLE
STATE/ZIP : WA 98116
MORTGAGE AMOUNT : 242,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,365.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,675.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,345,250.00
P & I AMT: 9,129.28
UPB AMT: 1,344,385.00
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 124
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031698384 MORTGAGORS: CASEY FRED
CASEY MARIBETH
REGION CODE ADDRESS : 33 WEST HURON STREET #508
01 CITY : CHICAGO
STATE/ZIP : IL 60610
MORTGAGE AMOUNT : 283,070.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,854.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,955.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.99900
----------------------------------------------------------------
0 0031698442 MORTGAGORS: SHAFONSKY KIRK
SHAFONSKY SHARON
REGION CODE ADDRESS : 365 NEWPORT GLEN COURT
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92660
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,801.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,873.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031698541 MORTGAGORS: MELVILLE WILLIAM
MELVILLE CHERYL
REGION CODE ADDRESS : 6520 VIA COLINITA
01 CITY : RANCHO PALOS VERDES
STATE/ZIP : CA 90275
MORTGAGE AMOUNT : 482,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 481,642.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,370.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 56.70500
----------------------------------------------------------------
0 0031698558 MORTGAGORS: BOBRITCHI CHRISTIAN
BOBRITCHI BECKY
REGION CODE ADDRESS : 360 NECTAR COURT
01 CITY : GILROY
STATE/ZIP : CA 95020
MORTGAGE AMOUNT : 241,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,700.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,669.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.99800
----------------------------------------------------------------
0 0031698749 MORTGAGORS: DERKASCH WILLIAM
DERKASCH ROSANNE
REGION CODE ADDRESS : 4 CARTERET TERRACE
01 CITY : BERNARDS
STATE/ZIP : NJ 07920
MORTGAGE AMOUNT : 313,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 313,373.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,219.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,588,370.00
P & I AMT: 11,088.20
UPB AMT: 1,587,371.03
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 125
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031699226 MORTGAGORS: MALHOTRA UMA
THURTLE PHILLIP
REGION CODE ADDRESS : 5318 46TH AVENUE S.W.
01 CITY : SEATTLE
STATE/ZIP : WA 98136
MORTGAGE AMOUNT : 263,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,994.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,795.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031699234 MORTGAGORS: PIGNONE ROBERT
REGION CODE ADDRESS : 5 GREENVALE
01 CITY : LAS FLORES
STATE/ZIP : CA 92688
MORTGAGE AMOUNT : 258,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,322.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,874.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 88.52700
----------------------------------------------------------------
0 0031699291 MORTGAGORS: JOHNSON GAYLEN
REGION CODE ADDRESS : 1417 WENCHELSA ROAD
01 CITY : GREENSBORO
STATE/ZIP : NC 27410
MORTGAGE AMOUNT : 281,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,280.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,920.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 94.99100
----------------------------------------------------------------
0 0031699382 MORTGAGORS: KOBE MARK
KOBE RHONDA
REGION CODE ADDRESS : 12 WREN COURT
01 CITY : PETALUMA
STATE/ZIP : CA 94954
MORTGAGE AMOUNT : 242,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,320.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,695.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.19300
----------------------------------------------------------------
0 0031699432 MORTGAGORS: QUEZADA JAVIER
QUEZADA ANNA
REGION CODE ADDRESS : 15104 BARBEE COURT
01 CITY : SAN JOSE
STATE/ZIP : CA 95127
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,803.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,719.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,297,700.00
P & I AMT: 9,004.80
UPB AMT: 1,296,720.63
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 126
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031699564 MORTGAGORS: WEINER NEIL
REGION CODE ADDRESS : 2822 SILK OAK AVENUE
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91362
MORTGAGE AMOUNT : 259,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,742.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,751.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99600
----------------------------------------------------------------
0 0031699606 MORTGAGORS: MULLINS CRAIG
MULLINS KELLIE
REGION CODE ADDRESS : 903 LOMITA STREET
01 CITY : EL SEGUNDO
STATE/ZIP : CA 90245
MORTGAGE AMOUNT : 281,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,775.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,893.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 78.05500
----------------------------------------------------------------
0 0031699622 MORTGAGORS: ROSSETTI PATRICK
ROSSETTI ELIZABETH
REGION CODE ADDRESS : 710 SOUTHBLUFF DRIVE
01 CITY : WESTERVILLE
STATE/ZIP : OH 43082
MORTGAGE AMOUNT : 250,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,399.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,688.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 68.65700
----------------------------------------------------------------
0 0031699663 MORTGAGORS: GENUALDI JOSEPH
GILLARD CYDNE
REGION CODE ADDRESS : 1516 LINCOLN STREET
01 CITY : EVANSTON
STATE/ZIP : IL 60201
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 340,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,319.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031699804 MORTGAGORS: GARFINKLE CARLA
GARFINKLE DAVID
REGION CODE ADDRESS : 49 RED OAK LANE
01 CITY : HIGHLAND PARK
STATE/ZIP : IL 60035
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,978.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 58.58500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,421,550.00
P & I AMT: 9,630.54
UPB AMT: 1,420,917.01
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 127
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031700131 MORTGAGORS: ANDERSON SCOTT
ANDERSON L
REGION CODE ADDRESS : 2237 LINCOLNWOOD DRIVE
01 CITY : EVANSTON
STATE/ZIP : IL 60201
MORTGAGE AMOUNT : 243,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,678.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.38700
----------------------------------------------------------------
0 0031700511 MORTGAGORS: JONES FRANK
JONES MARGARET
REGION CODE ADDRESS : 431 OAK BROOK LANE
01 CITY : SANTA ROSA
STATE/ZIP : CA 95409
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,657.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 77.04600
----------------------------------------------------------------
0 0031700651 MORTGAGORS: KU TOM
KU LAI
REGION CODE ADDRESS : 19985 RODRIGUES AVENUE
01 CITY : CUPERTINO
STATE/ZIP : CA 95014
MORTGAGE AMOUNT : 461,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 460,622.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,067.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 65.39000
----------------------------------------------------------------
0 0031700669 MORTGAGORS: KLAETSCH JEFFERY
BERRY PEGGY
REGION CODE ADDRESS : 5272 ALLSTONE DRIVE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92649
MORTGAGE AMOUNT : 352,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 351,704.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,312.39 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031700719 MORTGAGORS: BRODILE MATTHEW
KING JONATHAN
REGION CODE ADDRESS : 8150-8152 KIRKWOOD DRIVE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90046
MORTGAGE AMOUNT : 444,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 443,644.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,991.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,740,000.00
P & I AMT: 11,706.70
UPB AMT: 1,738,971.35
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 128
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031700925 MORTGAGORS: LEWIS MITCHELL
LEWIS KATHY
REGION CODE ADDRESS : 10245 BRIER MILL COURT
01 CITY : ALPHARETTA
STATE/ZIP : GA 30022
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,781.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,708.01 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031701006 MORTGAGORS: FRITTS LESLIE
FRITTS GAIL
REGION CODE ADDRESS : 3216 MILLS AVENUE
01 CITY : LA CRESCENTA AREA
STATE/ZIP : CA 91214
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,684.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 68.49300
----------------------------------------------------------------
0 0031701030 MORTGAGORS: MCNAMARA WILLIAM
MCNAMARA MARIANNE
REGION CODE ADDRESS : 300 LITTLETON ROAD
01 CITY : HARVARD
STATE/ZIP : MA 01451
MORTGAGE AMOUNT : 267,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,755.98 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031701105 MORTGAGORS: GATZKE GREG
GATZKE TONI
REGION CODE ADDRESS : 15107 JOANNE AVENUE
01 CITY : SAN JOSE
STATE/ZIP : CA 95127
MORTGAGE AMOUNT : 269,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,389.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,839.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031701162 MORTGAGORS: PRINCE DAN
PRINCE ALISON
REGION CODE ADDRESS : 2815 BARDY ROAD
01 CITY : SANTA ROSA
STATE/ZIP : CA 95404
MORTGAGE AMOUNT : 378,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 377,705.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,578.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 73.39800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,424,900.00
P & I AMT: 9,566.07
UPB AMT: 1,424,176.37
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 129
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031701303 MORTGAGORS: BRAZEE BRUCE
BRAZEE CHERI
REGION CODE ADDRESS : 10 FORTUNA WEST
01 CITY : IRVINE
STATE/ZIP : CA 92620
MORTGAGE AMOUNT : 330,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 329,508.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,307.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 77.64700
----------------------------------------------------------------
0 0031701402 MORTGAGORS: CHU SHUG
CHU SZE
REGION CODE ADDRESS : 30 MAC SPAR DRIVE
01 CITY : RANDOLPH
STATE/ZIP : NJ 07869
MORTGAGE AMOUNT : 259,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,727.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031701816 MORTGAGORS: ALDERSON BARRY
ALDERSON DEIDRI
REGION CODE ADDRESS : 2137 SABOT COVE
01 CITY : COSTA MESA
STATE/ZIP : CA 92627
MORTGAGE AMOUNT : 251,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,505.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,718.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.96400
----------------------------------------------------------------
0 0031701881 MORTGAGORS: SCHWEITZER MARVIN
SCHWEITZER RALIS MONIQUE
REGION CODE ADDRESS : 27 OLD FARM ROAD
01 CITY : WESTON
STATE/ZIP : CT 06883
MORTGAGE AMOUNT : 289,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 288,790.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,045.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.17800
----------------------------------------------------------------
0 0031701949 MORTGAGORS: HUANG JUN
NIR WAAN-JENG
REGION CODE ADDRESS : 9 LOCKE LANE
01 CITY : LEXINGTON
STATE/ZIP : MA 02173
MORTGAGE AMOUNT : 398,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 398,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,748.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 66.77800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,528,500.00
P & I AMT: 10,547.36
UPB AMT: 1,527,405.29
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 130
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031702087 MORTGAGORS: SECHEN EFFIE
SECHEN FRANK
REGION CODE ADDRESS : 120 HAVENSIDE DRIVE
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94132
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,823.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,791.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 57.47100
----------------------------------------------------------------
0 0031702178 MORTGAGORS: WONG FRANKIE
WONG SALLY
REGION CODE ADDRESS : 21 CLEAR SPRINGS COURT
01 CITY : SUGARLAND
STATE/ZIP : TX 77479
MORTGAGE AMOUNT : 278,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,783.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,896.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 69.95400
----------------------------------------------------------------
0 0031702236 MORTGAGORS: SILVER MARC
HILTON-SILVER MELISSA
REGION CODE ADDRESS : 10358 ROSSBURY PLACE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90064
MORTGAGE AMOUNT : 440,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 440,173.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,080.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 71.62600
----------------------------------------------------------------
0 0031702277 MORTGAGORS: ZEIGLER JUDY
LONNQUIST JUDITH
REGION CODE ADDRESS : 1523 11TH AVENUE WEST
01 CITY : SEATTLE
STATE/ZIP : WA 98119
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,687.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,728.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.07400
----------------------------------------------------------------
0 0031702392 MORTGAGORS: ROWE JAMES
ROWE MARCIA
REGION CODE ADDRESS : 10556 VALMAY AVENUE NW
01 CITY : SEATTLE
STATE/ZIP : WA 98177
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,781.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,708.01 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 67.53200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,628,500.00
P & I AMT: 11,204.24
UPB AMT: 1,627,249.30
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 131
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031702400 MORTGAGORS: LAMBERT KYLE
LAMBERT MARCIA
REGION CODE ADDRESS : 13589 SW MICHELLE COURT
01 CITY : TIGARD
STATE/ZIP : OR 97223
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,808.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,671.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 69.40500
----------------------------------------------------------------
0 0031702467 MORTGAGORS: WEILLER CLAUDE
WEILLER SHARON
REGION CODE ADDRESS : 100 SILVERWOOD DRIVE
01 CITY : LAFAYETTE
STATE/ZIP : CA 94549
MORTGAGE AMOUNT : 546,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 545,506.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,451.09 OUTSIDE CONV DATE :
LIFETIME RATE : 6.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.50000 PRODUCT CODE : 002
LTV : 76.90100
----------------------------------------------------------------
0 0031702533 MORTGAGORS: GRANTHAM LOUIS
GRANTHAM LISA
REGION CODE ADDRESS : 98 BUCKINGHAM LANE
01 CITY : ALLEN
STATE/ZIP : TX 75002
MORTGAGE AMOUNT : 246,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,057.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,679.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99200
----------------------------------------------------------------
0 0031702566 MORTGAGORS: WATSON HOUSTON
WATSON AMY
REGION CODE ADDRESS : 24745 ROLLINGWOOD ROAD
01 CITY : LAKE FOREST
STATE/ZIP : CA 92630
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,797.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,773.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031702624 MORTGAGORS: HANKIN MARC
COHN JO ANN
REGION CODE ADDRESS : 422 SOUTH RODEO DRIVE
01 CITY : BEVERLY HILLS
STATE/ZIP : CA 90212
MORTGAGE AMOUNT : 385,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 384,158.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,725.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 42.77700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,682,250.00
P & I AMT: 11,300.95
UPB AMT: 1,680,329.06
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 132
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031702897 MORTGAGORS: MCKEE RANDY
MCKEE BRENDA
REGION CODE ADDRESS : 520 LAREDO CIR
01 CITY : ALLEN
STATE/ZIP : TX 75013
MORTGAGE AMOUNT : 309,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,275.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,087.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 78.85400
----------------------------------------------------------------
0 0031703044 MORTGAGORS: ESCOBEDO JOE
ESCOBEDO NANCY
REGION CODE ADDRESS : 129 VALLEY GATE ROAD
01 CITY : SIMI VALLEY
STATE/ZIP : CA 93065
MORTGAGE AMOUNT : 287,435.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,216.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,985.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 66.84500
----------------------------------------------------------------
0 0031703135 MORTGAGORS: LARNER LYLE
LARNER ROSALINDA
REGION CODE ADDRESS : 5907 VISTA DE LA LUZ
01 CITY : (WOODLAND HILLS AREA)LOS
STATE/ZIP : CA 91367
MORTGAGE AMOUNT : 356,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 355,715.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,398.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 76.23100
----------------------------------------------------------------
0 0031703168 MORTGAGORS: FRIEND WILLIAM
FRIEND SUSAN
REGION CODE ADDRESS : 705 IRON POST ROAD
01 CITY : MOORESTOWN
STATE/ZIP : NJ 08057
MORTGAGE AMOUNT : 377,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 376,297.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,979.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/18
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 71.13200
----------------------------------------------------------------
0 0031703176 MORTGAGORS: CAWS ROY
CAWS MICHELE
REGION CODE ADDRESS : 9 BEACON LIGHT ROAD
01 CITY : TEWKSBURY TOWNSHIP
STATE/ZIP : NJ 07830
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,021.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 57.69200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,630,335.00
P & I AMT: 11,472.43
UPB AMT: 1,628,504.88
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 133
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031703218 MORTGAGORS: STEEGE TROY
STEEGE MARTINA
REGION CODE ADDRESS : 4239 PINE AVENUE
01 CITY : LONG BRANCH
STATE/ZIP : CA 90807
MORTGAGE AMOUNT : 271,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,592.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,896.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031703242 MORTGAGORS: MIZRACHI MOSHE
MIZRACHI JUDITH
REGION CODE ADDRESS : 11 LYONSGATE ROAD
01 CITY : COLUMBUS
STATE/ZIP : OH 43209
MORTGAGE AMOUNT : 330,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 330,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,251.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 62.26400
----------------------------------------------------------------
0 0031703390 MORTGAGORS: NAPOLI THOMAS
NAPOLI ANNETTE
REGION CODE ADDRESS : 21306 LOCHMERE
01 CITY : KATY
STATE/ZIP : TX 77450
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,829.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 76.38800
----------------------------------------------------------------
0 0031703432 MORTGAGORS: SIDDIQI NUMAN
SIDDIQI SEEMI
REGION CODE ADDRESS : 809 GALLERY COURT
01 CITY : COSTA MESA
STATE/ZIP : CA 92626
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,405.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,925.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031703531 MORTGAGORS: JEFFERY KEITH
JEFFERY ELAMAY
REGION CODE ADDRESS : 3156 FERNCREEK LANE
01 CITY : ESCONDIDO
STATE/ZIP : CA 92027
MORTGAGE AMOUNT : 261,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,811.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,847.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 91.91000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,409,200.00
P & I AMT: 9,749.57
UPB AMT: 1,407,809.15
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 134
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031703556 MORTGAGORS: RUEGSEGGER GREGORY
RUEGSEGGER DARCEY
REGION CODE ADDRESS : 10720 W. MONTGOMERY AVENUE
01 CITY : LITTLETON
STATE/ZIP : CO 80127
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,609.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,410.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.07400
----------------------------------------------------------------
0 0031703648 MORTGAGORS: COLLINS DANIEL
COLLINS MARIAN
REGION CODE ADDRESS : 27141 ARENA LANE
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92691
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,160.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,957.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031703796 MORTGAGORS: BAND HARVEY
BAND ALBERTA
REGION CODE ADDRESS : 17315 QUESAN PLACE (ENCINO AREA)
01 CITY : LOS ANGELES
STATE/ZIP : CA 91316
MORTGAGE AMOUNT : 484,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 483,622.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,301.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031703804 MORTGAGORS: RATAKONDA RAJESH
RATAKONDA NIVEDITA
REGION CODE ADDRESS : 1797 FIRTH COURT
01 CITY : FREMONT
STATE/ZIP : CA 94539
MORTGAGE AMOUNT : 484,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 483,640.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,384.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031703820 MORTGAGORS: NAUER KEVIN
NAUER ARLENA
REGION CODE ADDRESS : 4752 MATTERHORN WAY
01 CITY : ANTIOCH
STATE/ZIP : CA 94509
MORTGAGE AMOUNT : 279,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,782.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,903.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,027,000.00
P & I AMT: 13,957.89
UPB AMT: 2,024,816.51
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 135
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031703861 MORTGAGORS: FRESE CALVIN
FRESE SARAH
REGION CODE ADDRESS : 104 ALDEN LANE
01 CITY : LAKE FOREST
STATE/ZIP : IL 60045
MORTGAGE AMOUNT : 600,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 600,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,841.87 OUTSIDE CONV DATE :
LIFETIME RATE : 6.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.62500 PRODUCT CODE : 002
LTV : 62.37000
----------------------------------------------------------------
0 0031704224 MORTGAGORS: ROMANO FREDERICK
ROMANO LINDA
REGION CODE ADDRESS : 45 HERITAGE DRIVE
01 CITY : WALPOLE
STATE/ZIP : MA 02081
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,945.80 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 78.94700
----------------------------------------------------------------
0 0031704513 MORTGAGORS: SERRAO MICHAEL
SERRAO MOLLY
REGION CODE ADDRESS : 607 EAST ANDOVER DRIVE
01 CITY : BURBANK
STATE/ZIP : CA 91504
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,817.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,657.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.84600
----------------------------------------------------------------
0 0031704745 MORTGAGORS: LYNCH KENNETH
LYNCH RUTH
REGION CODE ADDRESS : 16951 BOLERO LANE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92649
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 649,492.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,434.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 56.27700
----------------------------------------------------------------
0 0031704844 MORTGAGORS: LOCK HARRY
GIANNARELLI-LOCK DARIA
REGION CODE ADDRESS : 3707 GREENHILLS AVENUE
01 CITY : CASTRO VALLEY
STATE/ZIP : CA 94546
MORTGAGE AMOUNT : 287,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,713.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,915.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,077,950.00
P & I AMT: 13,795.19
UPB AMT: 2,077,024.28
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 136
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031704901 MORTGAGORS: YU WAI
WONG-YU LINDA
REGION CODE ADDRESS : 4014 WEST 234TH PLACE
01 CITY : TORRANCE
STATE/ZIP : CA 90505
MORTGAGE AMOUNT : 271,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,382.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,829.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031704927 MORTGAGORS: MICELI THOMAS
MICELI PAULA
REGION CODE ADDRESS : 4 DOBBINS ROAD
01 CITY : WESTFORD
STATE/ZIP : MA 01886
MORTGAGE AMOUNT : 247,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,016.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,728.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 70.62800
----------------------------------------------------------------
0 0031704976 MORTGAGORS: JOHNSON RICHARD
JOHNSON LINDA
REGION CODE ADDRESS : 286 RIDGE WAY
01 CITY : MAMMOTH LAKES
STATE/ZIP : CA 93546
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,733.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,417.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 77.77700
----------------------------------------------------------------
0 0031705015 MORTGAGORS: SCHINDLER RACHEL
REGION CODE ADDRESS : 743 CAROLINA STREET
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94107
MORTGAGE AMOUNT : 343,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 342,725.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,310.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 66.86100
----------------------------------------------------------------
0 0031705072 MORTGAGORS: CHAN FAY
REGION CODE ADDRESS : 43435 BANDA TERRACE
01 CITY : FREMONT
STATE/ZIP : CA 94539
MORTGAGE AMOUNT : 293,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,976.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,025.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,505,000.00
P & I AMT: 10,311.56
UPB AMT: 1,503,835.63
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 137
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031705239 MORTGAGORS: LIPMAN MICHAEL
CURRAN JENNIFER
REGION CODE ADDRESS : 2329 JUAN STREET
01 CITY : SAN DIEGO
STATE/ZIP : CA 92103
MORTGAGE AMOUNT : 358,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 358,246.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,568.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031705502 MORTGAGORS: HOOPER GARY
HOOPER ANITA
REGION CODE ADDRESS : 15851 CALTECH CIRCLE
01 CITY : WESTMINISTER
STATE/ZIP : CA 92683
MORTGAGE AMOUNT : 271,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,498.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,899.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031705536 MORTGAGORS: SCOFIELD MICHAEL
SCOFIELD BARBARA
REGION CODE ADDRESS : 65 BIRCH RUN AVENUE
01 CITY : DENVILLE
STATE/ZIP : NJ 07834
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 304,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,125.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.79000
----------------------------------------------------------------
0 0031705569 MORTGAGORS: BLEIWEISS STANLEY
REGION CODE ADDRESS : 12345 CONWAY ROAD
01 CITY : SAINT LOUIS
STATE/ZIP : MO 63141
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,703.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,796.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031705635 MORTGAGORS: JONES DAVID
JONES VALERIA
REGION CODE ADDRESS : 300 OAKWOOD TRAIL
01 CITY : FAIRVIEW
STATE/ZIP : TX 75069
MORTGAGE AMOUNT : 388,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 387,697.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,646.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.39400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,722,200.00
P & I AMT: 12,037.44
UPB AMT: 1,721,145.80
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 138
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031706211 MORTGAGORS: ROSCH SUE ANN
MANFREDI FRANK
REGION CODE ADDRESS : 134 PARK DRIVE
01 CITY : EASTCHESTER
STATE/ZIP : NY 10709
MORTGAGE AMOUNT : 316,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 316,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,236.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031706229 MORTGAGORS: HANDLEY KEITH
HANDLEY DEBORAH
REGION CODE ADDRESS : 108 VISTA CIRCLE
01 CITY : ARROYO GRANDE
STATE/ZIP : CA 93420
MORTGAGE AMOUNT : 324,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 323,274.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,265.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031706252 MORTGAGORS: BEGLEY STEVEN
BEGLEY DEBORAH
REGION CODE ADDRESS : 154 SANTA FE COURT
01 CITY : VACAVILLE
STATE/ZIP : CA 95688
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,417.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,817.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031706278 MORTGAGORS: MELLEIN CHRISTIAN
MELLEIN JOANNA
REGION CODE ADDRESS : 9437 ADOLPHIA STREET
01 CITY : SAN DIEGO
STATE/ZIP : CA 92129
MORTGAGE AMOUNT : 229,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 229,166.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,624.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031706328 MORTGAGORS: HANSEN MICHAEL
HANSEN LINDA
REGION CODE ADDRESS : 10142 OAKWOOD CIRCLE
01 CITY : CARMEL
STATE/ZIP : CA 93923
MORTGAGE AMOUNT : 470,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 469,300.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,286.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 68.11500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,599,500.00
P & I AMT: 11,230.75
UPB AMT: 1,597,158.52
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 139
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031706393 MORTGAGORS: ANGULO ENRIQUE
ANGULO CECILIA
REGION CODE ADDRESS : 3310 GOLDSBORO PLACE
01 CITY : FALLS CHURCH
STATE/ZIP : VA 22042
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,786.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,608.53 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031706443 MORTGAGORS: SADANAGA KENNETH
SADANAGA AMY
REGION CODE ADDRESS : 138 THREE PONDS LANE
01 CITY : MALVERN
STATE/ZIP : PA 19355
MORTGAGE AMOUNT : 424,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 424,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,750.06 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031706559 MORTGAGORS: SPIRE JANIS
REGION CODE ADDRESS : 1121 GARFIELD AVENUE
01 CITY : VENICE AREA LOS ANGELES
STATE/ZIP : CA 90291
MORTGAGE AMOUNT : 332,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,741.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,264.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.97200
----------------------------------------------------------------
0 0031706591 MORTGAGORS: JOHNSTON ROBERT
REGION CODE ADDRESS : 2889 RIKKARD DRIVE
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91362
MORTGAGE AMOUNT : 309,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,072.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,244.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 71.97600
----------------------------------------------------------------
0 0031706641 MORTGAGORS: BROWN DAVID
WEIL JULIANA
REGION CODE ADDRESS : 963 PATRICIA WAY
01 CITY : SAN RAFAEL
STATE/ZIP : CA 94903
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,768.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,099.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,617,500.00
P & I AMT: 10,967.16
UPB AMT: 1,616,368.76
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 140
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031706831 MORTGAGORS: RIGGS DAVID
CAULFIELD MARIE
REGION CODE ADDRESS : 56 PERKINS STREET
01 CITY : JAMAICA PLAIN
STATE/ZIP : MA 02130
MORTGAGE AMOUNT : 248,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,674.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 54.61500
----------------------------------------------------------------
0 0031706849 MORTGAGORS: WHITMORE MARCUS
WHITMORE VICKI
REGION CODE ADDRESS : 1800 DANBY DRIVE
01 CITY : PLANO
STATE/ZIP : TX 75093
MORTGAGE AMOUNT : 309,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,137.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 76.99000
----------------------------------------------------------------
0 0031706872 MORTGAGORS: CHRISTENSEN J.
REGION CODE ADDRESS : 7 FALCONWOOD LANE
01 CITY : SANDY,
STATE/ZIP : UT 84107
MORTGAGE AMOUNT : 560,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 559,552.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,772.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 73.20200
----------------------------------------------------------------
0 0031706898 MORTGAGORS: PEDERSEN ROBERT
PEDERSEN MARY
REGION CODE ADDRESS : 1500 EAST OAK AVENUE
01 CITY : EL SEGUNDO
STATE/ZIP : CA 90245
MORTGAGE AMOUNT : 289,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,279.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,999.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 71.49300
----------------------------------------------------------------
0 0031707193 MORTGAGORS: CHANDLER KENNETH
CHANDLER VIRGINIA
REGION CODE ADDRESS : 4 PIONEER DRIVE
01 CITY : AVON
STATE/ZIP : CT 06001
MORTGAGE AMOUNT : 332,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 332,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,153.35 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 78.48600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,739,550.00
P & I AMT: 11,737.88
UPB AMT: 1,738,831.39
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 141
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031707466 MORTGAGORS: JONES TERENCE
JONES CAROL
REGION CODE ADDRESS : 30 CALLE AMENO
01 CITY : SAN CLEMENTE
STATE/ZIP : CA 92672
MORTGAGE AMOUNT : 485,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 484,612.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,267.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 63.81500
----------------------------------------------------------------
0 0031707730 MORTGAGORS: LOURENCO EDWARD
REGION CODE ADDRESS : 7075 BROADWAY TERRACE
01 CITY : OAKLAND
STATE/ZIP : CA 94611
MORTGAGE AMOUNT : 514,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 513,608.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,550.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 77.40900
----------------------------------------------------------------
0 0031707920 MORTGAGORS: SINGMAN DONALD
SINGMAN LESLIE
REGION CODE ADDRESS : 10244 DEMOCRACY LANE
01 CITY : POTOMAC
STATE/ZIP : MD 20854
MORTGAGE AMOUNT : 266,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,783.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,815.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 64.92600
----------------------------------------------------------------
0 0031707995 MORTGAGORS: BLANK MARC
BLANK HILLARY
REGION CODE ADDRESS : 24 BALTUSROL DRIVE
01 CITY : MANALAPAN
STATE/ZIP : NJ 07726
MORTGAGE AMOUNT : 240,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,547.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,581.56 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031708019 MORTGAGORS: SHARMA ALOK
SHARMA AMITA
REGION CODE ADDRESS : 3616 GLENLAKE DRIVE
01 CITY : GLENVIEW
STATE/ZIP : IL 60025
MORTGAGE AMOUNT : 476,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 475,637.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,287.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 76.77400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,981,950.00
P & I AMT: 13,502.74
UPB AMT: 1,980,190.01
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 142
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031708118 MORTGAGORS: BROWN DEAN
BROWN MERYL
REGION CODE ADDRESS : 19831 REDWING STREET
01 CITY : (WOODLAND HILLS AREA)
STATE/ZIP : CA 91364
MORTGAGE AMOUNT : 301,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,651.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,105.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 86.02800
----------------------------------------------------------------
0 0031708142 MORTGAGORS: SWEARINGEN CRAIG
SWEARINGEN KRISTI
REGION CODE ADDRESS : 5243 WEST BORDEAUX COURT
01 CITY : VISALIA
STATE/ZIP : CA 93291
MORTGAGE AMOUNT : 293,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,122.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,048.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.97500
----------------------------------------------------------------
0 0031708175 MORTGAGORS: CATTERSON CATHY
REGION CODE ADDRESS : 712 CALMAR AVENUE
01 CITY : OAKLAND
STATE/ZIP : CA 94610
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,553.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031708282 MORTGAGORS: GUNN ROBERT
GUNN MARGARET
REGION CODE ADDRESS : 1544 CAMINITO SOLIDAGO
01 CITY : LA JOLLA
STATE/ZIP : CA 92037
MORTGAGE AMOUNT : 315,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 315,259.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,179.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 65.72900
----------------------------------------------------------------
0 0031708423 MORTGAGORS: LIU PAUL
LIU MARY
REGION CODE ADDRESS : 680 BLUE SPRUCE DRIVE
01 CITY : DANVILLE
STATE/ZIP : CA 94506
MORTGAGE AMOUNT : 492,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 491,616.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,356.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.35400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,701,600.00
P & I AMT: 11,787.07
UPB AMT: 1,699,203.16
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 143
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031708472 MORTGAGORS: KRIJESTORAC SAMMY
LIEDTKE BONNIE
REGION CODE ADDRESS : 4218 RHODES AVENUE
01 CITY : LOS ANGELES STUDIO CITY A
STATE/ZIP : CA 91604
MORTGAGE AMOUNT : 520,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 519,623.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,680.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031708597 MORTGAGORS: O'NEILL DARREN
O'NEILL NANCY
REGION CODE ADDRESS : 73 SOMERS HILL CIRCLE
01 CITY : SOMERS
STATE/ZIP : CT 06071
MORTGAGE AMOUNT : 261,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,041.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,760.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031708688 MORTGAGORS: UGELSTAD JONATHAN
UGELSTAD CATHERINE
REGION CODE ADDRESS : 2522 100TH AVENUE NORTHEAST
01 CITY : BELLEVUE
STATE/ZIP : WA 98004
MORTGAGE AMOUNT : 279,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,976.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,881.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031708985 MORTGAGORS: NEWMAN JEFFREY
NEWMAN LAURI
REGION CODE ADDRESS : 6982 WESTCOTT PLACE
01 CITY : CLARKSVILLE
STATE/ZIP : MD 21029
MORTGAGE AMOUNT : 324,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,527.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,133.70 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031709223 MORTGAGORS: SEBASTIAN JOSEPH
SEBASTIAN SHARON
REGION CODE ADDRESS : 8127 DUNSINANE COURT
01 CITY : MCLEAN
STATE/ZIP : VA 22102
MORTGAGE AMOUNT : 286,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,776.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,951.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,671,250.00
P & I AMT: 11,406.37
UPB AMT: 1,669,945.47
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 144
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031709298 MORTGAGORS: CHI TELEE
CHI CHI-TSAI
REGION CODE ADDRESS : 24000 HILLHURST DRIVE
01 CITY : WEST HILLS AREA
STATE/ZIP : CA 91304
MORTGAGE AMOUNT : 460,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 459,613.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,021.87 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031709371 MORTGAGORS: STEVENS MICHAEL
REGION CODE ADDRESS : 12948 GALEWOOD STREET
01 CITY : STUDIO CITY
STATE/ZIP : CA 91604
MORTGAGE AMOUNT : 417,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 416,065.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,915.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 56.35100
----------------------------------------------------------------
0 0031709389 MORTGAGORS: EVANS ROBERT
EVANS ELIZABETH
REGION CODE ADDRESS : 9 MALIBU
01 CITY : LAGUNA NIGUEL
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 349,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 348,427.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,470.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 88.13100
----------------------------------------------------------------
0 0031709421 MORTGAGORS: RADEMACHER THOMAS
RADEMACHER KIMBERLY
REGION CODE ADDRESS : 5835 WALES COURT
01 CITY : SAN JOSE
STATE/ZIP : CA 95138
MORTGAGE AMOUNT : 365,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 364,677.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,337.14 OUTSIDE CONV DATE :
LIFETIME RATE : 6.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.62500 PRODUCT CODE : 002
LTV : 57.57000
----------------------------------------------------------------
0 0031709447 MORTGAGORS: BLOUNT DANIEL
BLOUNT SALLY
REGION CODE ADDRESS : 9428 RICHFORD LANE
01 CITY : GRANITE BAY
STATE/ZIP : CA 95746
MORTGAGE AMOUNT : 282,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,580.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,971.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.43600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,873,000.00
P & I AMT: 12,716.71
UPB AMT: 1,870,364.88
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 145
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031709462 MORTGAGORS: MONKS KEVIN
MONKS DILYS
REGION CODE ADDRESS : 1180 HARRIS DRIVE
01 CITY : LOMPOC
STATE/ZIP : CA 93436
MORTGAGE AMOUNT : 257,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,408.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,801.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031709496 MORTGAGORS: SUNDBERG GREG
SUNDBERG HEIDI
REGION CODE ADDRESS : 1128 9TH STREET
01 CITY : RAMONA
STATE/ZIP : CA 92065
MORTGAGE AMOUNT : 233,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,543.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,714.81 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031709520 MORTGAGORS: WATSON RONALD
WATSON ELENA
REGION CODE ADDRESS : 24562 MANDO DRIVE,
01 CITY : LAGUNA NIGUEL,
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,745.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,579.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031709629 MORTGAGORS: SHERIDAN MICHAEL
SHERIDAN SHIREEN
REGION CODE ADDRESS : 13812 SERRA OAKS COURT
01 CITY : SARATOGA
STATE/ZIP : CA 95070
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,553.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 34.12900
----------------------------------------------------------------
0 0031709637 MORTGAGORS: CAUGHMAN BRUCE
CAUGHMAN DEBORAH
REGION CODE ADDRESS : 9377 CALBERT CT.
01 CITY : FAIRFAX
STATE/ZIP : VA 22032
MORTGAGE AMOUNT : 382,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 381,828.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,510.45 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.99900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,533,450.00
P & I AMT: 10,703.16
UPB AMT: 1,532,080.21
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 146
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031709645 MORTGAGORS: MARTIN TIMOTHY
MARTIN NICOLE
REGION CODE ADDRESS : 16155 CYPRESS POINT DRIVE
01 CITY : CHINO HILLS
STATE/ZIP : CA 91709
MORTGAGE AMOUNT : 241,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,349.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,710.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 76.73000
----------------------------------------------------------------
0 0031709652 MORTGAGORS: SCHAFFLER RONALD
SCHAFFLER NANCY
REGION CODE ADDRESS : 6372 OWL WAY
01 CITY : LIVERMORE
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 321,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 321,672.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,306.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 94.99100
----------------------------------------------------------------
0 0031709694 MORTGAGORS: BIEHL CARL
REGION CODE ADDRESS : 2266 CAMBRIDGE AVENUE
01 CITY : ENCINITAS
STATE/ZIP : CA 92007
MORTGAGE AMOUNT : 535,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 534,582.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,649.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 64.07100
----------------------------------------------------------------
0 0031709728 MORTGAGORS: CALLAN STEPHEN
CALLAN JAYNE
REGION CODE ADDRESS : 2132 DARTMOUTH GATE COURT
01 CITY : WILDWOOD
STATE/ZIP : MO 63011
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,786.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,013.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.90400
----------------------------------------------------------------
0 0031709926 MORTGAGORS: BIANCHI DIANA
CURTIS JOHN
REGION CODE ADDRESS : 4 PERRY STREET
01 CITY : BROOKLINE
STATE/ZIP : MA 02445
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,216.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/23
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 48.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,686,600.00
P & I AMT: 11,897.24
UPB AMT: 1,685,390.71
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 147
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031710148 MORTGAGORS: LARKIN HILLARY
REGION CODE ADDRESS : 6708 WOODLAND PLACE
01 CITY : OAKLAND
STATE/ZIP : CA 94611
MORTGAGE AMOUNT : 262,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,795.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,787.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.05800
----------------------------------------------------------------
0 0031710270 MORTGAGORS: OUYANG GLENN
OUYANG MAYROSE
REGION CODE ADDRESS : 5220 BUCK HILL AVENUE
01 CITY : BUENA PARK
STATE/ZIP : CA 90621
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,760.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,021.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 85.71400
----------------------------------------------------------------
0 0031710478 MORTGAGORS: BLANCHARD TERRY
BLANCHARD DEBRA
REGION CODE ADDRESS : 3997 OAK HILL ROAD
01 CITY : OAKLAND
STATE/ZIP : CA 94605
MORTGAGE AMOUNT : 239,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,818.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,650.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.87300
----------------------------------------------------------------
0 0031710486 MORTGAGORS: AKIN TED
AKIN GLORIA
REGION CODE ADDRESS : 5323 N DENTWOOD DRIVE
01 CITY : DALLAS
STATE/ZIP : TX 75220
MORTGAGE AMOUNT : 405,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 404,684.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,762.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 26.12900
----------------------------------------------------------------
0 0031710536 MORTGAGORS: BENJAMIN ROGER
REGION CODE ADDRESS : 3210 KELTON AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90034
MORTGAGE AMOUNT : 420,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 419,688.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,936.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,626,000.00
P & I AMT: 11,158.68
UPB AMT: 1,624,746.22
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 148
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031710668 MORTGAGORS: MOSKOWITZ JANICE
COSTAS KEITH
REGION CODE ADDRESS : 3701 LEGATION STREET N.W.
01 CITY : WASHINGTON
STATE/ZIP : DC 20008
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,796.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,649.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031710676 MORTGAGORS: HUTSELL LARRY
HUTSELL LISA
REGION CODE ADDRESS : 4911 SOUTH COUNTY ROAD 23
01 CITY : LOVELAND
STATE/ZIP : CO 80537
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,691.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,241.09 OUTSIDE CONV DATE :
LIFETIME RATE : 6.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.62500 PRODUCT CODE : 002
LTV : 77.77700
----------------------------------------------------------------
0 0031710791 MORTGAGORS: SINGER BRIAN
SINGER JEANNIE
REGION CODE ADDRESS : 6033 E. OLD WEST WAY
01 CITY : CAVE CREEK
STATE/ZIP : AZ 85331
MORTGAGE AMOUNT : 251,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,168.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,779.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 94.99300
----------------------------------------------------------------
0 0031711054 MORTGAGORS: SMITH JAMES
SMITH JANINE
REGION CODE ADDRESS : 108 COTTONWOOD CIRCLE
01 CITY : ROLLING HILLS ESTATES
STATE/ZIP : CA 90274
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,765.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,127.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031711070 MORTGAGORS: ERB JOHN
ERB LYNN
REGION CODE ADDRESS : 100 OLD CART WAY
01 CITY : NORTH ANDOVER
STATE/ZIP : MA 01845
MORTGAGE AMOUNT : 257,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,796.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 55.62700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,414,350.00
P & I AMT: 9,594.35
UPB AMT: 1,413,421.63
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 149
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031711351 MORTGAGORS: LITTLEHALE DAVID
PROMAN GAYLE
REGION CODE ADDRESS : 454 ANTHONY ST
01 CITY : GLEN ELLYN
STATE/ZIP : IL 60137
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,812.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,637.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.17000
----------------------------------------------------------------
0 0031711534 MORTGAGORS: JACOUBOWSKY THOMAS
LEVIS DEBORAH
REGION CODE ADDRESS : 5834 GLORIA WAY
01 CITY : LIVERMORE
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,535.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,181.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.96400
----------------------------------------------------------------
0 0031711609 MORTGAGORS: SHARP ISAAC
MACCIARDI FRANCESCA
REGION CODE ADDRESS : 846 GROVE ACRE AVENUE
01 CITY : PACIFIC GROVE
STATE/ZIP : CA 93950
MORTGAGE AMOUNT : 297,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,557.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,076.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031711617 MORTGAGORS: ESTEVES CARLOS
ESTEVES KATHLEEN
REGION CODE ADDRESS : 19 NORMAN PLACE
01 CITY : CRANFORD
STATE/ZIP : NJ 07016
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,778.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031711625 MORTGAGORS: ESCHER WILLIAM
ESCHER LORETTA
REGION CODE ADDRESS : 21604 TRIBUNE STREET
01 CITY : CHATSWORTH
STATE/ZIP : CA 91311
MORTGAGE AMOUNT : 263,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,927.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,886.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 89.25400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,376,300.00
P & I AMT: 9,560.38
UPB AMT: 1,374,833.14
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 150
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031711666 MORTGAGORS: LERNER DANIEL
LERNER ALYSON
REGION CODE ADDRESS : 1515 SOUTH CANFIELD AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90035
MORTGAGE AMOUNT : 274,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,621.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,986.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 78.28500
----------------------------------------------------------------
0 0031711674 MORTGAGORS: WEISS DAVID
WEISS CHERYL
REGION CODE ADDRESS : 4066 PIER POINT
01 CITY : BYRON
STATE/ZIP : CA 94514
MORTGAGE AMOUNT : 286,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,773.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,001.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.98600
----------------------------------------------------------------
0 0031711831 MORTGAGORS: GARBOUZOV DMITRI
GALINA MINNIA
REGION CODE ADDRESS : 19 FLEMING WAY
01 CITY : PRINCETON
STATE/ZIP : NJ 08540
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,852.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 72.36800
----------------------------------------------------------------
0 0031711864 MORTGAGORS: ESTEP STEVEN
REGION CODE ADDRESS : 1239 E ROCK SPRINGS
01 CITY : ATLANTA
STATE/ZIP : GA 30306
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,774.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,125.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031711948 MORTGAGORS: MORRIS JAMES
MORRIS NANCY
REGION CODE ADDRESS : 15 GRAHAM PLACE
01 CITY : MILLSTONE
STATE/ZIP : NJ 07726
MORTGAGE AMOUNT : 291,635.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,635.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,964.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 76.74600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,430,835.00
P & I AMT: 9,930.99
UPB AMT: 1,429,804.89
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 151
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031712128 MORTGAGORS: HAYES ROBERT
HAYES GINA
REGION CODE ADDRESS : 375 OAKWOOD DRIVE
01 CITY : WYCKOFF
STATE/ZIP : NJ 07481
MORTGAGE AMOUNT : 330,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 330,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,223.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031712201 MORTGAGORS: MEYER STEVEN
MEYER PATRICIA
REGION CODE ADDRESS : 9915 CARRARA CIRCLE
01 CITY : CYPRESS
STATE/ZIP : CA 90630
MORTGAGE AMOUNT : 305,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 304,784.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,185.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 68.53900
----------------------------------------------------------------
0 0031712300 MORTGAGORS: GRAD MICHAEL
GRAD ROSALYN
REGION CODE ADDRESS : 37 SHREWSBURY DRIVE
01 CITY : LIVINGSTON
STATE/ZIP : NJ 07039
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,019.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031712326 MORTGAGORS: SINGER ANTHONY
SINGER ALEXANDRA
REGION CODE ADDRESS : 125 BURNT MEADOW ROAD
01 CITY : RINGWOOD
STATE/ZIP : NJ 07456
MORTGAGE AMOUNT : 282,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,951.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 94.99100
----------------------------------------------------------------
0 0031712409 MORTGAGORS: MORROW MARK
MORROW VALERIE
REGION CODE ADDRESS : 2668 BERKSHIRE ROAD
01 CITY : CLEVELAND HEIGHTS
STATE/ZIP : OH 44106
MORTGAGE AMOUNT : 344,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 343,751.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,434.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,557,600.00
P & I AMT: 10,814.24
UPB AMT: 1,557,135.74
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 152
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031712433 MORTGAGORS: VOLKEL ROBERT
VOLKEL LAURENE
REGION CODE ADDRESS : 2816 VIA SEGOVIA
01 CITY : PALOS VERDES
STATE/ZIP : CA 90274
MORTGAGE AMOUNT : 640,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 639,500.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,365.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 64.00000
----------------------------------------------------------------
0 0031712508 MORTGAGORS: MCCLAIN SAMUEL
REGION CODE ADDRESS : 1968 MARQUES AVENUE
01 CITY : SAN JOSE
STATE/ZIP : CA 95125
MORTGAGE AMOUNT : 310,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 310,601.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,094.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99200
----------------------------------------------------------------
0 0031712698 MORTGAGORS: HELLER A
HELLER SHERRY
REGION CODE ADDRESS : 26662 BUCKINGHAM DRIVE
01 CITY : SAN JUAN CAPISTRANO
STATE/ZIP : CA 92675
MORTGAGE AMOUNT : 283,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,789.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,978.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 48.37600
----------------------------------------------------------------
0 0031712722 MORTGAGORS: CONTURSI FRANK
CONTURSI NANCY
REGION CODE ADDRESS : 38 VARSITY DRIVE
01 CITY : SETAUKET
STATE/ZIP : NY 11733
MORTGAGE AMOUNT : 364,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 364,236.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,579.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 89.99300
----------------------------------------------------------------
0 0031712797 MORTGAGORS: BURKE FRANCIS
BURKE THERESA
REGION CODE ADDRESS : 336 RIVERBEND DR
01 CITY : GROTON
STATE/ZIP : MA 01450
MORTGAGE AMOUNT : 352,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 351,738.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,461.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,950,350.00
P & I AMT: 13,480.11
UPB AMT: 1,948,867.06
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 153
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031712870 MORTGAGORS: BERGER MARVIN
REGION CODE ADDRESS : 24036 BROADHORN DRIVE
01 CITY : LAGUNA NIGUEL
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 383,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 383,293.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,584.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031712888 MORTGAGORS: PATTERSON GARY
PATTERSON JANE
REGION CODE ADDRESS : 2895 HAGGETT DRIVE
01 CITY : TWINSBURG
STATE/ZIP : OH 44087
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,643.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.47800
----------------------------------------------------------------
0 0031712938 MORTGAGORS: GAROFALO L
GAROFALO ALICE
REGION CODE ADDRESS : 2217 3RD STREET SOUTHWEST
01 CITY : PUYALLUP
STATE/ZIP : WA 98372
MORTGAGE AMOUNT : 239,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,662.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,636.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 94.99000
----------------------------------------------------------------
0 0031713001 MORTGAGORS: HAWKS DOUGLAS
HAWKS LESLEY
REGION CODE ADDRESS : 42 THE COLONNADE
01 CITY : LONG BEACH
STATE/ZIP : CA 90803
MORTGAGE AMOUNT : 431,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 430,879.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,015.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031713050 MORTGAGORS: DOERING CHARLES
DOERING LYNNE
REGION CODE ADDRESS : 1752 OAK STREET
01 CITY : SANTA MONICA
STATE/ZIP : CA 90405
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,733.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,417.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 68.62700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,648,650.00
P & I AMT: 11,296.85
UPB AMT: 1,647,569.79
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 154
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031713126 MORTGAGORS: WAGNER RICHARD
FARKAS-WAGNER LINDA
REGION CODE ADDRESS : 11 DOUGLAS ROAD
01 CITY : LEXINGTON
STATE/ZIP : MA 02173
MORTGAGE AMOUNT : 356,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 356,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,458.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 74.16600
----------------------------------------------------------------
0 0031713142 MORTGAGORS: MARSHALL RANDALL
MARSHALL SUE
REGION CODE ADDRESS : 12506 AMBERSET DRIVE
01 CITY : KNOXVILLE
STATE/ZIP : TN 37922
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,817.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,657.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031713456 MORTGAGORS: WALSH GLENN
WALSH DANIELLE
REGION CODE ADDRESS : 4401 35TH STREET COURT NORTHEAST
01 CITY : TACOMA
STATE/ZIP : WA 98422
MORTGAGE AMOUNT : 235,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,416.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,607.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031713506 MORTGAGORS: WATKIN IRWIN
WATKIN BERNICE
REGION CODE ADDRESS : 20 SUGAR PINE ROAD
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92657
MORTGAGE AMOUNT : 370,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 369,689.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,430.64 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 50.68400
----------------------------------------------------------------
0 0031713688 MORTGAGORS: GOING E
GOING MARY
REGION CODE ADDRESS : 2864 PONDEROSA WAY
01 CITY : SANTA CLARA
STATE/ZIP : CA 90501
MORTGAGE AMOUNT : 376,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 375,684.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,470.05 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 75.20000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,577,600.00
P & I AMT: 10,624.33
UPB AMT: 1,576,606.86
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 155
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031713761 MORTGAGORS: ZAUKAS LYNDA
ZAUKAS GLENN
REGION CODE ADDRESS : 609 IROQUOIS AVENUE
01 CITY : ORADELL
STATE/ZIP : NJ 07649
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,801.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,873.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031713928 MORTGAGORS: BASKERVILLE TIMOTHY
REGION CODE ADDRESS : 7286 WOODVALE COURT
01 CITY : WEST HILLS,
STATE/ZIP : CA 91307
MORTGAGE AMOUNT : 283,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,223.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,909.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 89.99840
----------------------------------------------------------------
0 0031713969 MORTGAGORS: CAHILL TIMOTHY
LEARSY-CAHILL DAWN
REGION CODE ADDRESS : 59 WHITNEY STREET
01 CITY : WESTPORT
STATE/ZIP : CT 06880
MORTGAGE AMOUNT : 396,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 395,348.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,634.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031714025 MORTGAGORS: MILLER RENE
ZITZ RONALD
REGION CODE ADDRESS : 3320 56TH AVENUE SOUTHWEST
01 CITY : SEATTLE
STATE/ZIP : WA 98116
MORTGAGE AMOUNT : 265,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,811.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031714066 MORTGAGORS: MCKINNEY MICHAEL
MCKINNEY LINDA
REGION CODE ADDRESS : 984 SOUTH CREEKVIEW LANE
01 CITY : ANAHEIM
STATE/ZIP : CA 92808
MORTGAGE AMOUNT : 261,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,801.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,802.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.09000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,474,050.00
P & I AMT: 10,032.68
UPB AMT: 1,472,774.73
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 156
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031714389 MORTGAGORS: GLUCK GILBERT
BRADLEY CATHERINE
REGION CODE ADDRESS : 10 HERON
01 CITY : IRVINE
STATE/ZIP : CA 92604
MORTGAGE AMOUNT : 265,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,387.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,789.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 68.98700
----------------------------------------------------------------
0 0031714462 MORTGAGORS: ULRICH VANCE
ULRICH LAUREL
REGION CODE ADDRESS : 528 13TH STREET
01 CITY : MANHATTAN BEACH
STATE/ZIP : CA 90266
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,600.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,368.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.49100
----------------------------------------------------------------
0 0031714660 MORTGAGORS: FRIMET RHETT
FRIMET ANDREA
REGION CODE ADDRESS : 11 PUNCH BOWL DRIVE
01 CITY : WESTPORT
STATE/ZIP : CT 06880
MORTGAGE AMOUNT : 346,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 346,261.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,512.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0031714686 MORTGAGORS: FRID ROMAN
FRID ANNA
REGION CODE ADDRESS : 3265 ROBINCREST DRIVE
01 CITY : NORTHBROOK
STATE/ZIP : IL 60062
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,705.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 65.78947
----------------------------------------------------------------
0 0031714702 MORTGAGORS: INAL EDIB
INAL LAURA
REGION CODE ADDRESS : 29281 DEAN STREET,
01 CITY : LAGUNA NIGUEL,
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 342,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 341,726.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,304.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 76.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,704,100.00
P & I AMT: 11,679.93
UPB AMT: 1,702,975.80
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 157
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031714975 MORTGAGORS: HENDERSON CAROL
REGION CODE ADDRESS : 5908 E DANBURY ROAD
01 CITY : SCOTTSDALE
STATE/ZIP : AZ 85254
MORTGAGE AMOUNT : 265,175.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,760.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,808.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.97000
----------------------------------------------------------------
0 0031715014 MORTGAGORS: HEBBEL KEVIN
HEBBEL MARY
REGION CODE ADDRESS : 43 EMERALD GLEN LANE
01 CITY : SALEM
STATE/ZIP : CT 06420
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,760.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,942.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031715220 MORTGAGORS: BURNHAM CAMERON
BURNHAM MICHELLE
REGION CODE ADDRESS : 709 HOWARD AVENUE
01 CITY : BURLINGAME
STATE/ZIP : CA 94010
MORTGAGE AMOUNT : 384,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 383,707.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,652.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031715428 MORTGAGORS: BRICKE KLAUS
BRICKE MARIANNE
REGION CODE ADDRESS : 5702 CLUB VIEW DRIVE
01 CITY : YORBA LINDA
STATE/ZIP : CA 92886
MORTGAGE AMOUNT : 287,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,770.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,933.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 54.66600
----------------------------------------------------------------
0 0031715642 MORTGAGORS: WILLIAMS RICHARD
WILLIAMS KATHLEEN
REGION CODE ADDRESS : 704 ROGER AVENUE
01 CITY : KENILWORTH
STATE/ZIP : IL 60043
MORTGAGE AMOUNT : 330,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 330,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,251.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 62.85700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,558,175.00
P & I AMT: 10,588.62
UPB AMT: 1,556,998.94
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 158
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031715774 MORTGAGORS: FOTTRELL BRUCE
FOTTRELL SHANNON
REGION CODE ADDRESS : 23 FECAMP
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92657
MORTGAGE AMOUNT : 278,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,384.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,949.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 69.35300
----------------------------------------------------------------
0 0031715782 MORTGAGORS: VAIASICCA DOMENIC
VAIASICCA TERESA
REGION CODE ADDRESS : 2443 ARAM AVENUE
01 CITY : SAN JOSE
STATE/ZIP : CA 95128
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,606.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,845.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 61.39500
----------------------------------------------------------------
0 0031715964 MORTGAGORS: ANDERSON JAMES
ANDERSON JANE
REGION CODE ADDRESS : 4995-A JUPITER LANE
01 CITY : VAIL
STATE/ZIP : CO 81657
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,760.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,021.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 72.72700
----------------------------------------------------------------
0 0031715972 MORTGAGORS: ARMSTRONG GARY
ARMSTRONG CATHERINE
REGION CODE ADDRESS : 1532 HIGHLAND DRIVE
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92660
MORTGAGE AMOUNT : 300,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,924.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,151.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 47.15070
----------------------------------------------------------------
0 0031716236 MORTGAGORS: CHOPRA SANJEEV
MOSCOSO BRENDA
REGION CODE ADDRESS : 19225 SHERWOOD GREEN WAY
01 CITY : GAITHERSBURG
STATE/ZIP : MD 20879
MORTGAGE AMOUNT : 278,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,783.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,896.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.97100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,421,150.00
P & I AMT: 9,864.69
UPB AMT: 1,419,459.70
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 159
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031716293 MORTGAGORS: HAGOOD DAVID
HAGOOD CARLA
REGION CODE ADDRESS : 7441 SOUTH CRESCENT COURT
01 CITY : LITTLETON
STATE/ZIP : CO 80120
MORTGAGE AMOUNT : 252,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,302.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,788.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031716350 MORTGAGORS: WHITE BRUCE
WHITE JEAN
REGION CODE ADDRESS : 333 ALTA MESA CIRCLE
01 CITY : NAPA
STATE/ZIP : CA 94558
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,746.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,217.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 56.27598
----------------------------------------------------------------
0 0031716475 MORTGAGORS: ROSINSKI JOSEPH
REGION CODE ADDRESS : 722 NORTH POND COURT
01 CITY : LAFAYETTE
STATE/ZIP : CA 94549
MORTGAGE AMOUNT : 331,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 330,694.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,287.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.99500
----------------------------------------------------------------
0 0031716483 MORTGAGORS: HA TRISTRAM
REGION CODE ADDRESS : 32745 BELAMI LOOP
01 CITY : UNION CITY
STATE/ZIP : CA 94587
MORTGAGE AMOUNT : 257,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,136.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,735.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.98200
----------------------------------------------------------------
0 0031716517 MORTGAGORS: WEINBERGER STANLEY
WEINBERGER MARINA
REGION CODE ADDRESS : 84 BERKELEY AVENUE
01 CITY : SAN ANSELMO
STATE/ZIP : CA 94960
MORTGAGE AMOUNT : 393,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 392,715.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,781.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 65.50000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,559,500.00
P & I AMT: 10,810.34
UPB AMT: 1,557,596.22
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 160
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031716624 MORTGAGORS: MIKOLAJCZAK ADRIAN
REGION CODE ADDRESS : 300 WHISMAN STATION DRIVE
01 CITY : MOUNTAIN VIEW
STATE/ZIP : CA 94043
MORTGAGE AMOUNT : 270,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,787.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,866.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
0 0031716657 MORTGAGORS: TANG SHUI
LEUNG KIT
REGION CODE ADDRESS : 851 PALO ALTO DR
01 CITY : ARCADIA
STATE/ZIP : CA 91007
MORTGAGE AMOUNT : 306,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 306,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,140.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 72.04700
----------------------------------------------------------------
0 0031716723 MORTGAGORS: YOU TUNG-HAN
YOU GRACE
REGION CODE ADDRESS : 417 SOUTH OLD RANCH ROAD
01 CITY : ARCADIA,
STATE/ZIP : CA 91007
MORTGAGE AMOUNT : 299,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 298,783.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,116.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 76.70600
----------------------------------------------------------------
0 0031717085 MORTGAGORS: STONE MATTHEW
STONE LEE
REGION CODE ADDRESS : 790 SPALDING HEIGHT DRIVE
01 CITY : ATLANTA
STATE/ZIP : GA 30350
MORTGAGE AMOUNT : 322,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 322,235.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,145.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031717184 MORTGAGORS: BRYSON MICHAEL
REGION CODE ADDRESS : 17 PARRELL AVENUE
01 CITY : FOOTHILL RANCH AREA
STATE/ZIP : CA 92610
MORTGAGE AMOUNT : 246,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,820.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,741.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 92.83000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,443,900.00
P & I AMT: 10,010.30
UPB AMT: 1,442,826.76
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 161
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031717572 MORTGAGORS: REIS BURTON
REGION CODE ADDRESS : 30 CANTILENA
01 CITY : SAN CLEMENTE
STATE/ZIP : CA 92673
MORTGAGE AMOUNT : 516,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 515,607.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,563.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 68.34400
----------------------------------------------------------------
0 0031717705 MORTGAGORS: PETTIT MARK
PETTIT DEBI
REGION CODE ADDRESS : 5564 ARLENE WAY
01 CITY : LIVERMORE
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,752.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,088.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 73.80900
----------------------------------------------------------------
0 0031717853 MORTGAGORS: KILIAN DONNA
REGION CODE ADDRESS : 1801 FUMIA PLACE
01 CITY : SAN JOSE
STATE/ZIP : CA 95131
MORTGAGE AMOUNT : 340,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,640.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,263.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.99304
----------------------------------------------------------------
0 0031717887 MORTGAGORS: HAYES TERANCE
HAYES DAYNE
REGION CODE ADDRESS : 6102 E SONORAN TRAIL
01 CITY : CAVE CREEK
STATE/ZIP : AZ 85331
MORTGAGE AMOUNT : 253,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,556.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,752.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.99600
----------------------------------------------------------------
0 0031718331 MORTGAGORS: EDWARDS MICHAEL
EDWARDS SUSAN
REGION CODE ADDRESS : 4050 CHARLESTON LANE
01 CITY : ROSWELL
STATE/ZIP : GA 30075
MORTGAGE AMOUNT : 250,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,818.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,728.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,670,150.00
P & I AMT: 11,396.43
UPB AMT: 1,668,375.10
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 162
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031718794 MORTGAGORS: KAROLY STEPHEN
KAROLY JOCELYN
REGION CODE ADDRESS : 3315 JASMINE PLACE
01 CITY : ESCONDIDO
STATE/ZIP : CA 92025
MORTGAGE AMOUNT : 243,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,810.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,657.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031718828 MORTGAGORS: ERWIN DIANA
ERWIN EDWARD
REGION CODE ADDRESS : 721 38TH STREET
01 CITY : SACRAMENTO
STATE/ZIP : CA 95816
MORTGAGE AMOUNT : 301,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 301,051.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,108.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031718851 MORTGAGORS: KIMBERLIN GREG
KIMBERLIN SUE
REGION CODE ADDRESS : 450 FAIRWAY DRIVE #737
01 CITY : MAMMOTH LAKES
STATE/ZIP : CA 93546
MORTGAGE AMOUNT : 332,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,493.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,293.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031718943 MORTGAGORS: HALIBOZEK GREGORY
HALIBOZEK ELLEN
REGION CODE ADDRESS : 1556 WEST DOMINGO ROAD
01 CITY : FULLERTON
STATE/ZIP : CA 92833
MORTGAGE AMOUNT : 239,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,031.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,713.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031719065 MORTGAGORS: WARREN PAUL
WARREN JUDI
REGION CODE ADDRESS : 374 RIDGECREST DRIVE
01 CITY : MAMMOTH LAKES
STATE/ZIP : CA 93546
MORTGAGE AMOUNT : 354,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 353,459.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,444.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.66600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,469,700.00
P & I AMT: 10,217.53
UPB AMT: 1,467,845.49
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 163
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031719115 MORTGAGORS: MELAMED MATATIA
MELAMED BIBIJAN
REGION CODE ADDRESS : 10551 WILSHIRE BOULEVARD #1705
01 CITY : LOS ANGELES
STATE/ZIP : CA 90024
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,310.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,072.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 49.19000
----------------------------------------------------------------
0 0031719446 MORTGAGORS: BLAKESLEE MICHAEL
BLAKESLEE CHERYL
REGION CODE ADDRESS : 2985 POST ROCK COURT
01 CITY : TARPON SPRINGS
STATE/ZIP : FL 34689
MORTGAGE AMOUNT : 300,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,759.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,077.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031719511 MORTGAGORS: PULVER STEVEN
REGION CODE ADDRESS : 3680 MARIA LANE
01 CITY : CARLSBAD
STATE/ZIP : CA 92008
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,546.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,978.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 64.44400
----------------------------------------------------------------
0 0031719685 MORTGAGORS: OVED TERRANCE
REGION CODE ADDRESS : 21 SOUTH END AVENUE #721
01 CITY : NEW YORK
STATE/ZIP : NY 10280
MORTGAGE AMOUNT : 369,270.00 OPTION TO CONVERT :
UNPAID BALANCE : 369,270.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,709.58 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 79.99900
----------------------------------------------------------------
0 0031719859 MORTGAGORS: SCURA JOHN
SCURA KATHLEEN
REGION CODE ADDRESS : 493 INDIAN ROAD
01 CITY : WAYNE
STATE/ZIP : NJ 07470
MORTGAGE AMOUNT : 370,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 370,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,524.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,630,070.00
P & I AMT: 11,361.54
UPB AMT: 1,627,886.69
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 164
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031720030 MORTGAGORS: PARTO MEHRDAD
PARTO PARVANEH
REGION CODE ADDRESS : 311 SOUTH CITRUS AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90036
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,788.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,992.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 71.60800
----------------------------------------------------------------
0 0031720147 MORTGAGORS: SPUNT JEFFREY
HIRSH GAIL
REGION CODE ADDRESS : 2889 BRANNICK PLACE,
01 CITY : SAN DIEGO,
STATE/ZIP : CA 92122
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,413.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.01200
----------------------------------------------------------------
0 0031720253 MORTGAGORS: POERSCHKE JOHN
POERSCHKE DANA
REGION CODE ADDRESS : 883 SOUTH PARKGLEN PLACE
01 CITY : ANAHEIM
STATE/ZIP : CA 92808
MORTGAGE AMOUNT : 302,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 301,758.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,034.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031720261 MORTGAGORS: JIMENEZ JORGE
JIMENEZ STACEY
REGION CODE ADDRESS : 9413 BENBOW DRIVE
01 CITY : GILROY
STATE/ZIP : CA 95020
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,815.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,734.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031720279 MORTGAGORS: GOAD GARY
BARRETTA SILVIO
REGION CODE ADDRESS : 210 STEINER ST
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94117
MORTGAGE AMOUNT : 337,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 337,249.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,359.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 71.05200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,492,500.00
P & I AMT: 10,358.79
UPB AMT: 1,491,025.53
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 165
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031720436 MORTGAGORS: MCCAFFREY RAYMOND
MCCAFFREY CATHERINE
REGION CODE ADDRESS : 110 MADISON WAY
01 CITY : LANSDALE
STATE/ZIP : PA 19446
MORTGAGE AMOUNT : 265,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,830.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 68.47500
----------------------------------------------------------------
0 0031720519 MORTGAGORS: WENGLEIN THOMAS
WENGLEIN JACQUELYN
REGION CODE ADDRESS : 419 E MAPLE AVENUE
01 CITY : ORANGE
STATE/ZIP : CA 92866
MORTGAGE AMOUNT : 265,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,098.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,832.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 67.16400
----------------------------------------------------------------
0 0031720568 MORTGAGORS: JURADO EDWARD
JUARDO SUSAN
REGION CODE ADDRESS : 12200 TESLA ROAD
01 CITY : LIVERMORE
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,695.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,762.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031720709 MORTGAGORS: FINEMAN RICHARD
FINEMAN NANCY
REGION CODE ADDRESS : 4061 AKCOUR CIRCLE
01 CITY : LAFAYETTE HILL
STATE/ZIP : PA 19444
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,864.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031720758 MORTGAGORS: GRZYBEK RICHARD
GRZYBEK JOYCE
REGION CODE ADDRESS : 51 BEDFORD PLACE
01 CITY : RAMSEY
STATE/ZIP : NJ 07446
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,691.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,448,300.00
P & I AMT: 9,981.98
UPB AMT: 1,447,793.75
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 166
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031720774 MORTGAGORS: HOLTZMAN GILBERT
HOLTZMAN HALLIE
REGION CODE ADDRESS : 233 ST JAMES DRIVE
01 CITY : PIEDMONT
STATE/ZIP : CA 94611
MORTGAGE AMOUNT : 490,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 489,869.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,430.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.12900
----------------------------------------------------------------
0 0031720956 MORTGAGORS: BANCROFT PAUL
BANCROFT SUSAN
REGION CODE ADDRESS : 14861 THREE OAKS COURT
01 CITY : SARATOGA
STATE/ZIP : CA 95070
MORTGAGE AMOUNT : 475,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 474,610.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,160.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 23.17000
----------------------------------------------------------------
0 0031721012 MORTGAGORS: SASSON JOSEPH
SASSON NANCY
REGION CODE ADDRESS : 40 REDWOOD ROAD
01 CITY : NEWTON
STATE/ZIP : MA 02159
MORTGAGE AMOUNT : 366,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 366,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,406.99 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031721251 MORTGAGORS: CRANE DAVID
CRANE KRISTINA
REGION CODE ADDRESS : 1658 HOMESTEAD AVE NE
01 CITY : ATLANTA
STATE/ZIP : GA 30306
MORTGAGE AMOUNT : 263,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,789.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,771.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.14200
----------------------------------------------------------------
0 0031721418 MORTGAGORS: DOAN STEPHEN
DOAN TAHRA
REGION CODE ADDRESS : 6768 LEMON LEAF DRIVE
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 335,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 334,738.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,285.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.82600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,930,000.00
P & I AMT: 13,054.71
UPB AMT: 1,928,408.50
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 167
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031721467 MORTGAGORS: GREENBERG RICHARD
GREENBERG SHARON
REGION CODE ADDRESS : 5418 ISABELLA COURT
01 CITY : AGOURA HILLS
STATE/ZIP : CA 91301
MORTGAGE AMOUNT : 246,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,716.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,726.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 94.99800
----------------------------------------------------------------
0 0031721491 MORTGAGORS: WOOLF ROBERT
LAVERY ROBYN
REGION CODE ADDRESS : 145 PRINCE ROGERS WAYE
01 CITY : MARSHFIELD
STATE/ZIP : MA 02050
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 320,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,210.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 76.73800
----------------------------------------------------------------
0 0031721640 MORTGAGORS: WONG ALEX
SAM MICHELLE
REGION CODE ADDRESS : 17541 JACARANDA
01 CITY : IRVINE
STATE/ZIP : CA 92612
MORTGAGE AMOUNT : 352,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 351,718.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,371.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031721665 MORTGAGORS: KANE WARREN
KANE SUSAN
REGION CODE ADDRESS : 27851 HORSESHOE BEND
01 CITY : SAN JUAN CAPISTRANO
STATE/ZIP : CA 92675
MORTGAGE AMOUNT : 460,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 459,632.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,099.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 58.59800
----------------------------------------------------------------
0 0031721673 MORTGAGORS: SHEA STEVE
SHEA PATRICIA
REGION CODE ADDRESS : LOT 103 GOOSENECK LANE
01 CITY : WESTFORD
STATE/ZIP : MA 01886
MORTGAGE AMOUNT : 284,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,166.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,892.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,663,300.00
P & I AMT: 11,299.25
UPB AMT: 1,662,234.29
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 168
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031721681 MORTGAGORS: WEISZ JONATHON
WEISZ SARAH
REGION CODE ADDRESS : 731 ADELYN DRIVE
01 CITY : SAN GABRIEL
STATE/ZIP : CA 91775
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 379,703.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,592.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031721772 MORTGAGORS: BOITANO RICHARD
BOITANO BEVERLY
REGION CODE ADDRESS : 210 YARBOROUGH LANE
01 CITY : REDWOOD CITY
STATE/ZIP : CA 94061
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,758.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,272.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 54.62100
----------------------------------------------------------------
0 0031721855 MORTGAGORS: WIRTZ JOHN
WIRTZ IDA
REGION CODE ADDRESS : 2873 WAHUPA RANCH ROAD
01 CITY : ESCONDIDO
STATE/ZIP : CA 92029
MORTGAGE AMOUNT : 434,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 424,944.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,960.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.57000
----------------------------------------------------------------
0 0031722309 MORTGAGORS: STROESSER JOSEPH
STROESSER NARDA
REGION CODE ADDRESS : 828 TEMPLE STREET
01 CITY : SAN DIEGO
STATE/ZIP : CA 92106
MORTGAGE AMOUNT : 322,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 322,142.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,172.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031722333 MORTGAGORS: STONE SHARON
REGION CODE ADDRESS : 3409 DOWNING AVENUE
01 CITY : GLENDALE
STATE/ZIP : CA 91208
MORTGAGE AMOUNT : 237,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,310.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,600.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,698,900.00
P & I AMT: 11,597.53
UPB AMT: 1,688,858.82
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 169
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031722796 MORTGAGORS: JESTINGS LEE
JESTINGS JONI
REGION CODE ADDRESS : 9 GLEN HOLLOW ROAD
01 CITY : DANVILLE
STATE/ZIP : CA 94506
MORTGAGE AMOUNT : 570,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 569,576.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,985.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 73.07600
----------------------------------------------------------------
0 0031722887 MORTGAGORS: MOKHTARI REZA
MOKHTARI SABA
REGION CODE ADDRESS : 421 S VIA MONTANA
01 CITY : BURBANK
STATE/ZIP : CA 91501
MORTGAGE AMOUNT : 270,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,054.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,912.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 73.04000
----------------------------------------------------------------
0 0031722960 MORTGAGORS: RICHARD DANNY
MORGAN ANDREW
REGION CODE ADDRESS : 151 BROMPTON AVENUE
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 93131
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,771.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,153.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031722986 MORTGAGORS: LEWIS ERNEST
LEWIS MARCIA
REGION CODE ADDRESS : 711 FLINT SPEAR ROAD
01 CITY : WALNUT
STATE/ZIP : CA 91789
MORTGAGE AMOUNT : 235,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,825.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,643.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.66100
----------------------------------------------------------------
0 0031723018 MORTGAGORS: KLEINHENZ ROBERT
LANDWORTH-KLEINHENZ RAQUEL
REGION CODE ADDRESS : 370 MIRA MAR AVENUE
01 CITY : LONG BEACH
STATE/ZIP : CA 90814
MORTGAGE AMOUNT : 237,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,815.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,616.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,620,250.00
P & I AMT: 11,311.84
UPB AMT: 1,619,043.50
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 170
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031723323 MORTGAGORS: PAYNE JAMES
PAYNE RACHAEL
REGION CODE ADDRESS : 15393 NW WOODED WAY
01 CITY : BEAVERTON
STATE/ZIP : OR 97006
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,635.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,914.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031724354 MORTGAGORS: JARAMILLO SELIS
REGION CODE ADDRESS : 9305 BOURNVILLE COURT
01 CITY : ELK GROVE
STATE/ZIP : CA 95758
MORTGAGE AMOUNT : 319,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,250.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,179.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031724396 MORTGAGORS: RAU DAVID
RAU KIMBERLY
REGION CODE ADDRESS : 1800 BURGUNDY ROAD
01 CITY : ENCINITAS
STATE/ZIP : CA 92024
MORTGAGE AMOUNT : 277,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,186.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,941.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031724420 MORTGAGORS: GREGORIO REGINALD
GREGORIO ELIZABETH
REGION CODE ADDRESS : 4704 TORREY PINES DRIVE
01 CITY : CHINO HILLS
STATE/ZIP : CA 91709
MORTGAGE AMOUNT : 293,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,674.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,074.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
0 0031724461 MORTGAGORS: COMPIAN BRIAN
COMPIAN TERI
REGION CODE ADDRESS : 2822 RAMONA COURT
01 CITY : SANTA CLARA
STATE/ZIP : CA 95051
MORTGAGE AMOUNT : 334,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 333,914.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,366.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,488,600.00
P & I AMT: 10,476.16
UPB AMT: 1,486,661.66
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 171
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031724487 MORTGAGORS: TIMME PHILLIP
DOLIN HEATHER
REGION CODE ADDRESS : 1546 CABRILLO AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90291
MORTGAGE AMOUNT : 290,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,095.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,107.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031724537 MORTGAGORS: KENT MICHAEL
NILSEN JANET
REGION CODE ADDRESS : 1826 CASTERLINE ROAD
01 CITY : OAKLAND
STATE/ZIP : CA 94602
MORTGAGE AMOUNT : 273,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,386.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,866.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031724560 MORTGAGORS: YAMANI VENKATA
YAMANI BRAHMI
REGION CODE ADDRESS : 3 PIENZA
01 CITY : IRVINE
STATE/ZIP : CA 92606
MORTGAGE AMOUNT : 303,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,080.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,200.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 76.83500
----------------------------------------------------------------
0 0031724610 MORTGAGORS: PERLMAN SCOTT
PERLMAN RUTH
REGION CODE ADDRESS : 2537 SANDBURG ST.
01 CITY : DUNN LORING
STATE/ZIP : VA 22027
MORTGAGE AMOUNT : 308,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 308,109.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,103.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.98700
----------------------------------------------------------------
0 0031724735 MORTGAGORS: HENDERSON VALERIE
REGION CODE ADDRESS : 140 FAIRMOUNT STREET
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94131
MORTGAGE AMOUNT : 286,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,570.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,932.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 42.74200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,462,950.00
P & I AMT: 10,210.52
UPB AMT: 1,461,243.44
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 172
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031724776 MORTGAGORS: SHELL RALPH
SHELL CAROLYN
REGION CODE ADDRESS : 6408 CHASE'S LANDING
01 CITY : HIXSON
STATE/ZIP : TN 37343
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,616.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 78.94700
----------------------------------------------------------------
0 0031724834 MORTGAGORS: COPPING J
COPPING PATRIZIA
REGION CODE ADDRESS : 1061 EAST TUJUNGA AVENUE
01 CITY : BURBANK
STATE/ZIP : CA 91501
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,773.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,773.71 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 62.79000
----------------------------------------------------------------
0 0031724859 MORTGAGORS: HIYAMA DARRYL
HIYAMA SUSAN
REGION CODE ADDRESS : 24762 VIA PRADERA
01 CITY : CALABASAS
STATE/ZIP : CA 91302
MORTGAGE AMOUNT : 362,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 361,731.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,531.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 72.40000
----------------------------------------------------------------
0 0031724925 MORTGAGORS: CALLAGHAN AMBROSE
CALLAGHAN ELIZABETH
REGION CODE ADDRESS : 19652 ASHWORTH CIRCLE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92646
MORTGAGE AMOUNT : 301,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,782.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,130.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.25000
----------------------------------------------------------------
0 0031724958 MORTGAGORS: JANJUA NADEEM
REGION CODE ADDRESS : 12859 WILLIAMS MEADOW CT
01 CITY : HERNDON
STATE/ZIP : VA 20171
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,800.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,746.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,429,000.00
P & I AMT: 9,798.64
UPB AMT: 1,428,086.94
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 173
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031724974 MORTGAGORS: SHARP NORMAN
SHARP CAROLANN
REGION CODE ADDRESS : 1304 KEY DRIVE
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22302
MORTGAGE AMOUNT : 342,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 342,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,304.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 62.18100
----------------------------------------------------------------
0 0031725120 MORTGAGORS: RUAN TSENGKUEI
CHENG SHU-CHEN
REGION CODE ADDRESS : 8173 TANFORAN COURT
01 CITY : NEWARK
STATE/ZIP : CA 94560
MORTGAGE AMOUNT : 436,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 435,350.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,048.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031725138 MORTGAGORS: TIPTON MICHAEL
TIPTON NANCY
REGION CODE ADDRESS : 4823 BENTWOOD WAY
01 CITY : GRANITE BAY
STATE/ZIP : CA 95746
MORTGAGE AMOUNT : 234,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,402.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,596.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.98500
----------------------------------------------------------------
0 0031725179 MORTGAGORS: SILVER MICHAEL
VASQUEZ XAVIER
REGION CODE ADDRESS : 65 BADGER STREET
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94112
MORTGAGE AMOUNT : 258,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,508.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,808.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.98800
----------------------------------------------------------------
0 0031725393 MORTGAGORS: WIETECHA KEVIN
WIETECHA KATHERINE
REGION CODE ADDRESS : 6465 CORRINE DRIVE NW
01 CITY : CANTON
STATE/ZIP : OH 44718
MORTGAGE AMOUNT : 236,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,630.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 61.45800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,506,750.00
P & I AMT: 10,388.21
UPB AMT: 1,505,261.03
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 174
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031726482 MORTGAGORS: FILLMORE ROBERT
FILLMORE CATHRYN
REGION CODE ADDRESS : 577 EAST FAIRCHILD DRIVE
01 CITY : LITTLETON
STATE/ZIP : CO 80126
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,157.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,284.65 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 77.51900
----------------------------------------------------------------
0 0031726649 MORTGAGORS: RIGGLE MICHAEL
REGION CODE ADDRESS : 1838 KIEST AVENUE
01 CITY : NORTHBROOK
STATE/ZIP : IL 60062
MORTGAGE AMOUNT : 324,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,210.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031726714 MORTGAGORS: WIENKE ANDREAS
WIENKE PILAR
REGION CODE ADDRESS : 125 CHERRY LANE
01 CITY : CAMPBELL
STATE/ZIP : CA 95008
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,752.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,610.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031726748 MORTGAGORS: SALLADAY MICHAEL
SALLADAY SANDRA
REGION CODE ADDRESS : 7092 HIGHLAND SPRING LANE
01 CITY : HIGHLAND
STATE/ZIP : CA 92346
MORTGAGE AMOUNT : 236,075.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,890.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,610.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031727126 MORTGAGORS: MOSS DAVID
MOSS MONA
REGION CODE ADDRESS : 5 STONE HOUSE DRIVE
01 CITY : READINGTON
STATE/ZIP : NJ 08889
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,828.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,688,075.00
P & I AMT: 11,543.83
UPB AMT: 1,686,800.55
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 175
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031727209 MORTGAGORS: DEVOLVE WILLIAM
DEVOLVE BARBARA
REGION CODE ADDRESS : 20520 VIA DEL PALMAR
01 CITY : YORBA LINDA
STATE/ZIP : CA 92886
MORTGAGE AMOUNT : 344,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 343,718.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,288.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031727423 MORTGAGORS: REELHORN JON
REELHORN CONNIE
REGION CODE ADDRESS : 14167 EAST SAN GABRIEL AVENUE
01 CITY : SANGER
STATE/ZIP : CA 93657
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,765.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,046.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 66.66600
----------------------------------------------------------------
0 0031727456 MORTGAGORS: POAG CANDACE
REGION CODE ADDRESS : 3210 SEAVIEW AVENUE
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92625
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,756.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,293.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 65.33800
----------------------------------------------------------------
0 0031727837 MORTGAGORS: ERICKSON JOHN
ERICKSON JENNIFER
REGION CODE ADDRESS : 9759 LIMAR WAY
01 CITY : SAN DIEGO
STATE/ZIP : CA 92129
MORTGAGE AMOUNT : 267,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,691.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,827.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031727969 MORTGAGORS: TUCKER HAREL
TUCKER HARRIET
REGION CODE ADDRESS : 7005 EMERALD LANE
01 CITY : TUSCALOOSA
STATE/ZIP : AL 35406
MORTGAGE AMOUNT : 273,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,844.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 89.99000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,513,650.00
P & I AMT: 10,300.46
UPB AMT: 1,512,681.58
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 176
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031727977 MORTGAGORS: SHAH MARLA
REGION CODE ADDRESS : 6508 SAN VICENTE BOULEVARD
01 CITY : LOS ANGELES
STATE/ZIP : CA 90048
MORTGAGE AMOUNT : 272,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,102.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,927.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 73.59400
----------------------------------------------------------------
0 0031728165 MORTGAGORS: WRIGHT PAUL
WRIGHT CAROL
REGION CODE ADDRESS : 3808 MOCKINGBIRD LANE
01 CITY : HIGHLAND PARK
STATE/ZIP : TX 75205
MORTGAGE AMOUNT : 327,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 326,944.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,232.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031728306 MORTGAGORS: MIDDENDORF ALEXANDER
MIDDENDORF GAIL
REGION CODE ADDRESS : 410 WOODLAND AVENUE
01 CITY : WAYNE
STATE/ZIP : PA 19087
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,690.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,334.95 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031728389 MORTGAGORS: PINSON JOSEPH
PINSON TARA
REGION CODE ADDRESS : 28232 PASEO CORRALES
01 CITY : SAN JUAN CAPISTRANO
STATE/ZIP : CA 92675
MORTGAGE AMOUNT : 243,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,466.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,657.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 66.57500
----------------------------------------------------------------
0 0031728405 MORTGAGORS: DE LANCEY KEITH
DE LANCEY KIMBERLY
REGION CODE ADDRESS : 24702 PRISCILLA DRIVE
01 CITY : DANA POINT
STATE/ZIP : CA 92629
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,790.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,899.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.34700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,477,500.00
P & I AMT: 10,051.41
UPB AMT: 1,475,994.51
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 177
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031728470 MORTGAGORS: BROCK NEAL
BROCK TIFFANY
REGION CODE ADDRESS : 21286 VALEWOOD
01 CITY : LAKE FOREST
STATE/ZIP : CA 92630
MORTGAGE AMOUNT : 247,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,807.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,684.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031728611 MORTGAGORS: ECKLES PAUL
ECKLES DONNA
REGION CODE ADDRESS : 11 BRINDISI
01 CITY : LAGUNA NIGUEL
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 468,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 467,634.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,192.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031728629 MORTGAGORS: STECKER DOUGLAS
LONDEN-STECKER HEIDI
REGION CODE ADDRESS : 5943 E CALLE DEL NORTE
01 CITY : PHOENIX
STATE/ZIP : AZ 85018
MORTGAGE AMOUNT : 240,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,316.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,661.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 60.88600
----------------------------------------------------------------
0 0031728694 MORTGAGORS: WINTERSTEIN DAVID
WINTERSTEIN KAREN
REGION CODE ADDRESS : 9 MARIAN DRIVE
01 CITY : WEST WINDSOR TOWNSHIP
STATE/ZIP : NJ 08691
MORTGAGE AMOUNT : 460,220.00 OPTION TO CONVERT :
UNPAID BALANCE : 460,220.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,023.32 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031728850 MORTGAGORS: BERVEN JEFF
REGION CODE ADDRESS : 6417 LOCHRIDGE DRIVE
01 CITY : PLANO
STATE/ZIP : TX 75093
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,787.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,855.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,687,720.00
P & I AMT: 11,417.48
UPB AMT: 1,686,767.03
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 178
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031728967 MORTGAGORS: GUESS MICHAEL
GUESS LORNA
REGION CODE ADDRESS : 11234 DILLING STREET
01 CITY : NORTH HOLLYWOOD
STATE/ZIP : CA 91602
MORTGAGE AMOUNT : 327,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,196.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,043.17 OUTSIDE CONV DATE :
LIFETIME RATE : 6.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.37500 PRODUCT CODE : 002
LTV : 77.05800
----------------------------------------------------------------
0 0031729106 MORTGAGORS: MOORE ANTHONY
MOORE ELLEN
REGION CODE ADDRESS : 7 WATERWAY
01 CITY : IRVINE
STATE/ZIP : CA 92614
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,775.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,964.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031729239 MORTGAGORS: HOOD JEFFREY
HOOD LINDA
REGION CODE ADDRESS : 845 MARIN LANE
01 CITY : LAKE ARROWHEAD
STATE/ZIP : CA 92352
MORTGAGE AMOUNT : 346,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 345,510.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,478.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 78.63600
----------------------------------------------------------------
0 0031729254 MORTGAGORS: KING GREGORY
KING GAIL
REGION CODE ADDRESS : 330 STONEBROOK STREET
01 CITY : SIMI VALLEY
STATE/ZIP : CA 93065
MORTGAGE AMOUNT : 351,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,627.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,455.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
0 0031729262 MORTGAGORS: WEGNER GLENN
REGION CODE ADDRESS : 10200 HILLCRET ROAD
01 CITY : CUPERTINO
STATE/ZIP : CA 95014
MORTGAGE AMOUNT : 452,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 452,072.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,202.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 56.55000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,765,050.00
P & I AMT: 12,143.99
UPB AMT: 1,763,181.72
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 179
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031729296 MORTGAGORS: KOEPF JAMES
REGION CODE ADDRESS : 1547 SAN ANDREAS AVENUE
01 CITY : SAN JOSE
STATE/ZIP : CA 95118
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,606.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,845.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031729304 MORTGAGORS: NISHIYAMA KAZUHITO
NISHIYAMA YUKO
REGION CODE ADDRESS : 3290 TRUMBULL STREET
01 CITY : SAN DIEGO
STATE/ZIP : CA 92106
MORTGAGE AMOUNT : 432,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 431,356.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,020.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031729312 MORTGAGORS: HUANG YONGLIN
PAN LI
REGION CODE ADDRESS : 2463 FLICKINGER ROAD
01 CITY : SAN JOSE
STATE/ZIP : CA 95131
MORTGAGE AMOUNT : 237,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,647.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,657.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 58.37400
----------------------------------------------------------------
0 0031729338 MORTGAGORS: TAYLOR JAMES
REGION CODE ADDRESS : 6 SILVER RUN
01 CITY : IRVINE
STATE/ZIP : CA 92620
MORTGAGE AMOUNT : 236,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,824.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,650.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031729346 MORTGAGORS: ZUANICH MICHAEL
ZUANICH ELIZABETH
REGION CODE ADDRESS : 28637 MOUNT LASSEN LANE
01 CITY : RANCHO PALOS VERDES
STATE/ZIP : CA 90275
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,789.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,985.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 77.80800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,453,000.00
P & I AMT: 10,159.60
UPB AMT: 1,451,224.90
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 180
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031729353 MORTGAGORS: DOOLEY MARK
DOOLEY SUSAN
REGION CODE ADDRESS : 22 SATURN STREET
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94114
MORTGAGE AMOUNT : 370,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 369,449.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,587.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 69.81100
----------------------------------------------------------------
0 0031729379 MORTGAGORS: MICALIZIO JOSEPH
MICALIZIO BEATRICE
REGION CODE ADDRESS : 21901 CARMARGO
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92691
MORTGAGE AMOUNT : 247,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,140.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,751.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031729395 MORTGAGORS: ANDERSON KIRK
COOPER REBECCA
REGION CODE ADDRESS : 947 EMERALD HILL ROAD
01 CITY : REDWOOD CITY
STATE/ZIP : CA 94061
MORTGAGE AMOUNT : 425,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 424,676.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,935.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 67.03400
----------------------------------------------------------------
0 0031729411 MORTGAGORS: TOWERY REID
TOWERY LISA
REGION CODE ADDRESS : 9749 WEDDINGTON CIRCLE
01 CITY : GRANITE BAY
STATE/ZIP : CA 95746
MORTGAGE AMOUNT : 331,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 330,507.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,314.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 76.09100
----------------------------------------------------------------
0 0031729452 MORTGAGORS: CARTER GARRY
CARTER SANDRA
REGION CODE ADDRESS : 3083 CRESTABLANCA DRIVE
01 CITY : PLEASANTON
STATE/ZIP : CA 94566
MORTGAGE AMOUNT : 450,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 449,346.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,185.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 69.76700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,823,500.00
P & I AMT: 12,773.75
UPB AMT: 1,821,119.96
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 181
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031729478 MORTGAGORS: QUIRK MAURICE
QUIRK GLORIA
REGION CODE ADDRESS : 2712 SKYLARK CIRCLE
01 CITY : COSTA MESA
STATE/ZIP : CA 92626
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,220.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,933.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 66.19300
----------------------------------------------------------------
0 0031729486 MORTGAGORS: PERLMAN ARNOLD
PERLMAN SHERLEY
REGION CODE ADDRESS : 1736 MANDEVILLE LANE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90049
MORTGAGE AMOUNT : 298,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,598.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,186.62 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 23.84000
----------------------------------------------------------------
0 0031729494 MORTGAGORS: PASAG JESUS
PASAG MERCEDES
REGION CODE ADDRESS : 2265 NORTH 2ND STREET
01 CITY : SANTA CLARA
STATE/ZIP : CA 95054
MORTGAGE AMOUNT : 239,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,669.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,732.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 66.38800
----------------------------------------------------------------
0 0031729502 MORTGAGORS: JACKSON CLARK
JACKSON SUSAN
REGION CODE ADDRESS : 313 CORAL AVENUE
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92662
MORTGAGE AMOUNT : 418,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 417,377.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,922.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 64.30700
----------------------------------------------------------------
0 0031729510 MORTGAGORS: DORR CHRISTOPHER
DORR KAREN
REGION CODE ADDRESS : 156 S. IRVING BOULEVARD
01 CITY : LOS ANGELES
STATE/ZIP : CA 90004
MORTGAGE AMOUNT : 618,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 617,828.73 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,326.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,853,750.00
P & I AMT: 13,102.55
UPB AMT: 1,850,695.90
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 182
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031729528 MORTGAGORS: ESCARCEGA EDMUNDO
REGION CODE ADDRESS : 872 MYRTLE AVENUE
01 CITY : SAN JOSE
STATE/ZIP : CA 95126
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,612.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,817.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031729536 MORTGAGORS: PETERSON ROGER
PETERSON JILL
REGION CODE ADDRESS : 19761 DORADO DRIVE
01 CITY : TRABUCO CANYON
STATE/ZIP : CA 92679
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,428.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,377.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 77.27200
----------------------------------------------------------------
0 0031729544 MORTGAGORS: HEGEDUS JAMES
HEGEDUS B
REGION CODE ADDRESS : 11850 OTSEGO STREET
01 CITY : VALLEY VILLAGE
STATE/ZIP : CA 91607
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,661.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.41800
----------------------------------------------------------------
0 0031729635 MORTGAGORS: ONTIVEROS DAVID
ONTIVEROS GLORIA
REGION CODE ADDRESS : 23712 COLIMA BAY
01 CITY : DANA POINT
STATE/ZIP : CA 92629
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,778.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,937.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.80800
----------------------------------------------------------------
0 0031729643 MORTGAGORS: COLLINS MARK
COLLINS BRANDILYN
REGION CODE ADDRESS : 7 BENNETT ROAD
01 CITY : REDWOOD CITY
STATE/ZIP : CA 94062
MORTGAGE AMOUNT : 482,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 481,633.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,329.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 62.59700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,686,000.00
P & I AMT: 11,699.23
UPB AMT: 1,684,115.12
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 183
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031729759 MORTGAGORS: FRANZ NICHOLAS
REGION CODE ADDRESS : 691 WOODWARD WAY
01 CITY : ATLANTA
STATE/ZIP : GA 30327
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 340,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,262.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031730005 MORTGAGORS: HEPNER THOMAS
HEPNER BEVERLY
REGION CODE ADDRESS : 6371 BLACKBERRY COURT
01 CITY : GILROY
STATE/ZIP : CA 95020
MORTGAGE AMOUNT : 306,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 305,642.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,038.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.99800
----------------------------------------------------------------
0 0031730047 MORTGAGORS: LOPEZ DAVID
LOPEZ LONI
REGION CODE ADDRESS : 1468 POMEROY ROAD
01 CITY : ARROYO GRANDE
STATE/ZIP : CA 93420
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,802.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,795.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031730187 MORTGAGORS: CONEY ALAN
CONEY JEANNETTE
REGION CODE ADDRESS : 7350 DORADO CANYON ROAD
01 CITY : SOMERSET
STATE/ZIP : CA 95684
MORTGAGE AMOUNT : 275,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,690.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,923.54 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 73.36000
----------------------------------------------------------------
0 0031730203 MORTGAGORS: JURUN NICHOLAS
JURUN DEBRA
REGION CODE ADDRESS : 10 SILVERBIT LANE
01 CITY : ROLLING HILL ESTATES
STATE/ZIP : CA 90274
MORTGAGE AMOUNT : 485,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 484,346.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,558.76 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 60.62500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,666,500.00
P & I AMT: 11,578.58
UPB AMT: 1,664,481.66
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 184
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031730211 MORTGAGORS: HAKIMI SOHAIL
REGION CODE ADDRESS : 18105 CHARDON CIRCLE
01 CITY : ENCINO
STATE/ZIP : CA 91316
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 498,178.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,582.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 71.42800
----------------------------------------------------------------
0 0031730237 MORTGAGORS: NAMYST DAVID
NAMYST ANNE
REGION CODE ADDRESS : 3839 HARVEST DRIVE
01 CITY : REDWOOD CITY
STATE/ZIP : CA 94061
MORTGAGE AMOUNT : 343,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 342,487.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,398.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 54.01500
----------------------------------------------------------------
0 0031730245 MORTGAGORS: JENSEN DON
JENSEN DOROTHY
REGION CODE ADDRESS : 20 RUNNINGBROOK
01 CITY : IRVINE
STATE/ZIP : CA 92620
MORTGAGE AMOUNT : 320,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 320,022.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,240.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 65.40800
----------------------------------------------------------------
0 0031730252 MORTGAGORS: ABBOTT T.
ABBOTT FIONA
REGION CODE ADDRESS : 21717 PARVIN DRIVE
01 CITY : SANTA CLARITA
STATE/ZIP : CA 91350
MORTGAGE AMOUNT : 389,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 388,704.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,686.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 74.09500
----------------------------------------------------------------
0 0031730286 MORTGAGORS: THOMPSON ROBERT
THOMPSON RENE
REGION CODE ADDRESS : 5518 BOULDER CANYON DRIVE
01 CITY : CASTRO VALLEY
STATE/ZIP : CA 94552
MORTGAGE AMOUNT : 336,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,046.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,349.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,888,500.00
P & I AMT: 13,257.47
UPB AMT: 1,884,439.22
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 185
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031730302 MORTGAGORS: NU STEPHEN
NU CHARLENE
REGION CODE ADDRESS : 45 WEST FLORAL AVENUE
01 CITY : ARCADIA
STATE/ZIP : CA 91006
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,634.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,783.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031730310 MORTGAGORS: MALSTROM MARK
MALSTROM R.
REGION CODE ADDRESS : 2069 TILBURY COURT
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91360
MORTGAGE AMOUNT : 332,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,505.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,321.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031730344 MORTGAGORS: SOUTHRON HARRY
SOUTHRON BARBARA
REGION CODE ADDRESS : 1877 TAHITI DRIVE
01 CITY : COSTA MESA
STATE/ZIP : CA 92626
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,553.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.94900
----------------------------------------------------------------
0 0031730351 MORTGAGORS: HANSEN RUSSELL
HANSEN WENDY
REGION CODE ADDRESS : 3552 KEMPTON DRIVE
01 CITY : LOS ALAMITOS,
STATE/ZIP : CA 90720
MORTGAGE AMOUNT : 267,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,696.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,850.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031730369 MORTGAGORS: SMYKAL TOM
REGION CODE ADDRESS : 521 JASMINE AVENUE
01 CITY : NEWPORT BEACH
STATE/ZIP : CA 92625
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,404.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,796.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 68.96500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,551,900.00
P & I AMT: 10,849.88
UPB AMT: 1,549,793.58
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 186
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031730419 MORTGAGORS: GOMERSALL EDSON
GOMERSALL AMY
REGION CODE ADDRESS : 1078 LAURIE AVENUE
01 CITY : SAN JOSE
STATE/ZIP : CA 95125
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,779.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,235.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 64.32900
----------------------------------------------------------------
0 0031730427 MORTGAGORS: DOBBIN ROBERT
GROSS CAROLYN
REGION CODE ADDRESS : 486 EAST YALE LOOP
01 CITY : IRVINE
STATE/ZIP : CA 92612
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,626.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,891.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031730435 MORTGAGORS: FABIAN CHRISTIAN
FABIAN CYNTHIA
REGION CODE ADDRESS : 3923-33 NORTH WAYNE UNIT E
01 CITY : CHICAGO
STATE/ZIP : IL 60613
MORTGAGE AMOUNT : 278,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,897.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 76.59600
----------------------------------------------------------------
0 0031730468 MORTGAGORS: AKHIARY ALI
AKHIARY FARIBA
REGION CODE ADDRESS : 3042 JOLLEY DRIVE
01 CITY : BURBANK
STATE/ZIP : CA 91504
MORTGAGE AMOUNT : 293,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 293,192.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,101.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031730476 MORTGAGORS: REILLY GEORGE
REILLY ROSEICK
REGION CODE ADDRESS : 4904 SMITH CANYON COURT
01 CITY : SAN DIEGO
STATE/ZIP : CA 92130
MORTGAGE AMOUNT : 480,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 479,285.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,356.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 64.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,627,600.00
P & I AMT: 11,482.54
UPB AMT: 1,626,084.15
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 187
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031730518 MORTGAGORS: KINKHORST FRANZ
KINKHORST NOEL
REGION CODE ADDRESS : 1681 VIA CAMPO VERDE
01 CITY : SAN JOSE
STATE/ZIP : CA 95120
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,735.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,069.33 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 63.63600
----------------------------------------------------------------
0 0031730526 MORTGAGORS: KOHLERITER ERIC
REGION CODE ADDRESS : 3 BUCKEYE LANE
01 CITY : DANVILLE
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 330,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 329,532.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,364.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 73.33300
----------------------------------------------------------------
0 0031730534 MORTGAGORS: LOHMAN SCOTT
SHANNON CYNTHIA
REGION CODE ADDRESS : 17 BELL CANYON DRIVE
01 CITY : DOVE CANYON
STATE/ZIP : CA 92679
MORTGAGE AMOUNT : 330,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 329,532.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,364.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031730567 MORTGAGORS: PULPAN GREGORY
PULPAN ED
REGION CODE ADDRESS : 756 PARADISO COURT
01 CITY : SOQUEL
STATE/ZIP : CA 95073
MORTGAGE AMOUNT : 372,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 371,446.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,601.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031730583 MORTGAGORS: VALDEZ THOMAS
VALDEZ LINDA
REGION CODE ADDRESS : 716 NORTH MARIA AVENUE
01 CITY : REDONDO BEACH
STATE/ZIP : CA 90277
MORTGAGE AMOUNT : 240,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,924.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,740.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 72.75700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,587,100.00
P & I AMT: 11,139.65
UPB AMT: 1,585,171.47
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 188
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031730609 MORTGAGORS: JENKINS JOSEPH
JENKINS RENI
REGION CODE ADDRESS : 1349 TERRA ALTA DRIVE
01 CITY : MILPITAS
STATE/ZIP : CA 95035
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,600.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,873.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031730617 MORTGAGORS: KULIK MARK
KULIK NANCY
REGION CODE ADDRESS : 1715 GOODMAN AVENUE
01 CITY : REDONDO BEACH
STATE/ZIP : CA 90278
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,405.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,776.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 65.33300
----------------------------------------------------------------
0 0031730633 MORTGAGORS: JAO RICHARD
JAO ROSALINA
REGION CODE ADDRESS : 807 EAST ORANGE GROVE AVENUE
01 CITY : BURBANK
STATE/ZIP : CA 91501
MORTGAGE AMOUNT : 287,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,593.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,056.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 75.52600
----------------------------------------------------------------
0 0031730641 MORTGAGORS: KELLOGG SHIRLEY
KELLOGG DENNIS
REGION CODE ADDRESS : 10222 ROOKWOOD DRIVE
01 CITY : SAN DIEGO
STATE/ZIP : CA 92131
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,553.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,256.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031730658 MORTGAGORS: ALVARO LUCY
GALERA HERMIE
REGION CODE ADDRESS : 2535 GLEN KEW COURT
01 CITY : SAN JOSE
STATE/ZIP : CA 95148
MORTGAGE AMOUNT : 307,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 306,542.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,146.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 77.72100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,422,000.00
P & I AMT: 10,109.73
UPB AMT: 1,419,696.36
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 189
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031730666 MORTGAGORS: ROY CLAUDE
ROY BARBARA
REGION CODE ADDRESS : 1402 GLACIER DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95118
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,784.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,027.72 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 72.68100
----------------------------------------------------------------
0 0031730674 MORTGAGORS: HOGE SALLIE
BROWN GARY
REGION CODE ADDRESS : 3182 KEMPTON DRIVE
01 CITY : LOS ALAMITOS
STATE/ZIP : CA 90720
MORTGAGE AMOUNT : 307,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,282.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,202.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031730690 MORTGAGORS: BIERBOWER MARC
RAWNSLEY VICTORIA
REGION CODE ADDRESS : 1826 VOLUNTARY ROAD
01 CITY : VISTA
STATE/ZIP : CA 92084
MORTGAGE AMOUNT : 289,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,573.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,976.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031730765 MORTGAGORS: CLARK RICHARD
CLARK THERESE
REGION CODE ADDRESS : 1913 FORT STOCKTON DR
01 CITY : SAN DIEGO
STATE/ZIP : CA 92103
MORTGAGE AMOUNT : 464,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 463,628.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,126.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031730815 MORTGAGORS: PRINCE WILLIAM
PRINCE CONSTANCE
REGION CODE ADDRESS : 16 BAYBERRY ROAD
01 CITY : PRINCETON
STATE/ZIP : NJ 08540
MORTGAGE AMOUNT : 250,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,700.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,731.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 94.99810
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,602,000.00
P & I AMT: 11,065.23
UPB AMT: 1,600,970.62
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 190
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031730864 MORTGAGORS: FUKUDA SABURO
FUKUDA LUCILLE
REGION CODE ADDRESS : 539 12TH AVAENUE
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94118
MORTGAGE AMOUNT : 294,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,084.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 52.58900
----------------------------------------------------------------
0 0031730880 MORTGAGORS: MCCRARY KIRK
MCCRARY THERESA
REGION CODE ADDRESS : 26992 PUEBLO NUEVO DRIVE
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92691
MORTGAGE AMOUNT : 297,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,740.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,951.08 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031731193 MORTGAGORS: STIGNA ANTHONY
STIGNA THERESA
REGION CODE ADDRESS : 22561 WAKEFIELD
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 377,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 376,720.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,636.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.87000
----------------------------------------------------------------
0 0031731458 MORTGAGORS: EDWARDS EMANUEL
EDWARDS LISA
REGION CODE ADDRESS : 213 UNION STREET
01 CITY : RIDGEWOOD
STATE/ZIP : NJ 07450
MORTGAGE AMOUNT : 232,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 232,572.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,607.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031731557 MORTGAGORS: CAPANO DAVID
CAPANO ELIZABETH
REGION CODE ADDRESS : 17 LEWIS LANE
01 CITY : FAIR HAVEN
STATE/ZIP : NJ 07704
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 325,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,217.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.58100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,526,250.00
P & I AMT: 10,496.19
UPB AMT: 1,525,533.78
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 191
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031731706 MORTGAGORS: MOYER GEORGE
MOYER HOLLY
REGION CODE ADDRESS : 3461 SEACREST DRIVE
01 CITY : CARLSBAD
STATE/ZIP : CA 92008
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,799.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,887.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 59.08000
----------------------------------------------------------------
0 0031732001 MORTGAGORS: CORLEY EDDIE
CORLEY MARIA
REGION CODE ADDRESS : 36 CANYON RIDGE
01 CITY : SANDIA PARK
STATE/ZIP : NM 87047
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 498,879.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,496.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 88.49500
----------------------------------------------------------------
0 0031732332 MORTGAGORS: KYLE MICHAEL
KYLE ANTONIA
REGION CODE ADDRESS : 6530 WEST 85TH STREET
01 CITY : LOS ANGELES
STATE/ZIP : CA 90045
MORTGAGE AMOUNT : 287,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,750.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,959.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031732472 MORTGAGORS: JONES LOUIS
JONES CAROLYN
REGION CODE ADDRESS : 1655 RIENTE STREET
01 CITY : CAMARILLO
STATE/ZIP : CA 93010
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,816.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,862.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031732605 MORTGAGORS: PORTER MARK
PORTER ROBIN
REGION CODE ADDRESS : 25200 LOMA PRIETA AVENUE
01 CITY : LOS GATOS
STATE/ZIP : CA 95033
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,712.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,425.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 56.25000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,677,200.00
P & I AMT: 11,631.24
UPB AMT: 1,674,958.56
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 192
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031732860 MORTGAGORS: SCOTT DAVID
REGION CODE ADDRESS : 16600 KNOLLWOOD DRIVE
01 CITY : GRANADA HILLS AREA
STATE/ZIP : CA 91344
MORTGAGE AMOUNT : 316,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 316,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,102.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031733025 MORTGAGORS: SMILEY IRWIN
REGION CODE ADDRESS : 16 HILLSIDE ROAD
01 CITY : SOUTHAMPTON
STATE/ZIP : NY 11968
MORTGAGE AMOUNT : 532,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 532,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,629.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 50.66600
----------------------------------------------------------------
0 0031733033 MORTGAGORS: ALDRICH ANDREW
ALDRICH PATRICIA
REGION CODE ADDRESS : RR 4 BOX 397 DRAKE ROAD
01 CITY : PLEASANT VALLEY
STATE/ZIP : NY 12569
MORTGAGE AMOUNT : 243,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,678.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.38700
----------------------------------------------------------------
0 0031733041 MORTGAGORS: MOLANDER PETER
MOLANDER LISE
REGION CODE ADDRESS : 16 CLIFFORD STREET
01 CITY : SOUTHBOROUGH
STATE/ZIP : MA 01772
MORTGAGE AMOUNT : 315,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,772.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,229.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031733371 MORTGAGORS: HELSPER JAMES
HELSPER CAROLYN
REGION CODE ADDRESS : 580 ARBOR STREET
01 CITY : PASADENA
STATE/ZIP : CA 91105
MORTGAGE AMOUNT : 457,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 456,616.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,002.17 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 60.13100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,863,000.00
P & I AMT: 12,641.61
UPB AMT: 1,862,388.07
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 193
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031733389 MORTGAGORS: GEYER GARY
GEYER LINDA
REGION CODE ADDRESS : 25926 MONTE CARLO WAY
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,752.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,244.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.26829
----------------------------------------------------------------
0 0031733900 MORTGAGORS: KUHLE BRIAN
SMITH BARBARA
REGION CODE ADDRESS : 10771 BRIGHTON DRIVE
01 CITY : SANTA ANA
STATE/ZIP : CA 92705
MORTGAGE AMOUNT : 540,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 539,557.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,592.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 72.00000
----------------------------------------------------------------
0 0031733934 MORTGAGORS: GALLAGHER JOHN
GALLAGHER NANCY
REGION CODE ADDRESS : 28 HIGHFIELD ROAD
01 CITY : SKILLMAN
STATE/ZIP : NJ 08558
MORTGAGE AMOUNT : 311,920.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,920.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,127.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031734072 MORTGAGORS: WILSON D
WILSON LYNN
REGION CODE ADDRESS : 3133 N QUINCY STREET
01 CITY : ARLINGTON
STATE/ZIP : VA 22207
MORTGAGE AMOUNT : 335,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,285.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.77600
----------------------------------------------------------------
0 0031734171 MORTGAGORS: CHARLES JOSEPH
CHARLES DEBRA
REGION CODE ADDRESS : 10 BERKSHIRE COURT
01 CITY : CLINTON TOWNSHIP
STATE/ZIP : NJ 08833
MORTGAGE AMOUNT : 311,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,662.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,154.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.97400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,823,820.00
P & I AMT: 12,404.70
UPB AMT: 1,822,892.72
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 194
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031734544 MORTGAGORS: SPIVAK MIKHAIL
SPIVAK MENELLA
REGION CODE ADDRESS : 2600 ZORADA DRIVE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90046
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,703.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,796.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 57.14200
----------------------------------------------------------------
0 0031734841 MORTGAGORS: HYATT MICHAEL
HYATT EVELYN
REGION CODE ADDRESS : 5275 VIA ADELA
01 CITY : YORBA LINDA
STATE/ZIP : CA 92886
MORTGAGE AMOUNT : 345,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 344,743.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,412.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031735350 MORTGAGORS: BEEKE NORMAN
REGION CODE ADDRESS : 3140 BROOKLAWN TERRACE
01 CITY : CHEVY CHASE
STATE/ZIP : MD 20815
MORTGAGE AMOUNT : 376,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 375,720.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,629.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031735384 MORTGAGORS: BERLIN FRANK
BERLIN KATHLEEN
REGION CODE ADDRESS : 4008 ELLICOTT STREET
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22304
MORTGAGE AMOUNT : 345,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 344,460.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,353.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.63100
----------------------------------------------------------------
0 0031735640 MORTGAGORS: MALLIA ANTHONY
MALLIA BONNIE
REGION CODE ADDRESS : 36 TOWNE ROAD
01 CITY : BOXFORD
STATE/ZIP : MA 01921
MORTGAGE AMOUNT : 269,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,767.14 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 70.78900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,735,000.00
P & I AMT: 11,958.85
UPB AMT: 1,733,628.16
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 195
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031735673 MORTGAGORS: GOTHBERG BRADLEY
REGION CODE ADDRESS : 1585 SERAFIX ROAD
01 CITY : ALAMO
STATE/ZIP : CA 94507
MORTGAGE AMOUNT : 459,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 459,350.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,175.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 51.65100
----------------------------------------------------------------
0 0031735699 MORTGAGORS: WAGNER JERRY
WAGNER LESLIE
REGION CODE ADDRESS : 4986 ESTERO WAY
01 CITY : EL DORADO HILLS
STATE/ZIP : CA 95762
MORTGAGE AMOUNT : 237,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,638.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,636.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.98700
----------------------------------------------------------------
0 0031735871 MORTGAGORS: ROUALDES MICHAEL
GENEL-ROUALDES JACQUELINE
REGION CODE ADDRESS : 518 SELMART LANE
01 CITY : PETALUMA
STATE/ZIP : CA 94954
MORTGAGE AMOUNT : 390,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 389,703.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,693.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031735889 MORTGAGORS: FARNHAM JOSEPH
REGION CODE ADDRESS : 22 POND STREET
01 CITY : COHASSET
STATE/ZIP : MA 02025
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,021.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 70.25700
----------------------------------------------------------------
0 0031735897 MORTGAGORS: BRUGUERA-ZIRKLE MARTA
ZIRKLE MICHAEL
REGION CODE ADDRESS : 419 AVENUE D
01 CITY : REDONDO BEACH
STATE/ZIP : CA 90277
MORTGAGE AMOUNT : 254,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,301.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,736.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 56.55500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,641,200.00
P & I AMT: 11,262.87
UPB AMT: 1,639,993.12
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 196
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031735939 MORTGAGORS: MONROE KRAIG
MONROE FAELYNN
REGION CODE ADDRESS : 7 GREENVALE
01 CITY : LAS FLORES AREA
STATE/ZIP : CA 92688
MORTGAGE AMOUNT : 267,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,634.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,827.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.28900
----------------------------------------------------------------
0 0031735947 MORTGAGORS: STONE STEPHEN
STONE KATHLEEN
REGION CODE ADDRESS : 15 GREGORY LANE
01 CITY : CHESTER SPRINGS
STATE/ZIP : PA 19425
MORTGAGE AMOUNT : 355,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 355,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,361.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 78.71900
----------------------------------------------------------------
0 0031736036 MORTGAGORS: SALERNO LEROY
SALERNO MARY ANNE
REGION CODE ADDRESS : 516 WILLOW STREET
01 CITY : PACIFIC GROVE
STATE/ZIP : CA 93950
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,756.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031736184 MORTGAGORS: KAUFMAN ELLIOT
KAUFMAN VALERIE
REGION CODE ADDRESS : 10 DEER CROSS LANE
01 CITY : NORTH BRUNSWICK
STATE/ZIP : NJ 08902
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,021.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031736192 MORTGAGORS: BOBBITT BRIAN
BOBBITT CHERRI
REGION CODE ADDRESS : 2715 FAIRHAUSER
01 CITY : NAPERVILLE
STATE/ZIP : IL 60564
MORTGAGE AMOUNT : 231,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 231,700.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,600.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 76.79600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,418,550.00
P & I AMT: 9,566.89
UPB AMT: 1,418,334.86
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 197
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031736259 MORTGAGORS: DAMAVANDI JEFFREY
DAMAVANDI RACHEL
REGION CODE ADDRESS : 1401 CHAUTAUQUA BOULEVARD
01 CITY : LOS ANGELES
STATE/ZIP : CA 90272
MORTGAGE AMOUNT : 450,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 450,165.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,149.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 66.25000
----------------------------------------------------------------
0 0031736333 MORTGAGORS: WAGENBACH JEFFREY
WAGENBACH KATHLEEN
REGION CODE ADDRESS : 34 HOBART AVENUE
01 CITY : SUMMIT
STATE/ZIP : NJ 07901
MORTGAGE AMOUNT : 295,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,769.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,012.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 64.83500
----------------------------------------------------------------
0 0031736341 MORTGAGORS: HORNE ANDREW
REGION CODE ADDRESS : 15 NORMA ROAD
01 CITY : BEDFORD
STATE/ZIP : MA 01730
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,910.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 94.91500
----------------------------------------------------------------
0 0031736366 MORTGAGORS: VARON KENNETH
VARON BARBARA
REGION CODE ADDRESS : 2928 VIA ALVARADO
01 CITY : PALOS VERVES ESTATES
STATE/ZIP : CA 90274
MORTGAGE AMOUNT : 511,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 510,581.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,399.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 73.73700
----------------------------------------------------------------
0 0031736374 MORTGAGORS: WINES ROBERT
WINES DENISE
REGION CODE ADDRESS : 2590 LORAIN ROAD
01 CITY : SAN MARINO
STATE/ZIP : CA 91108
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 379,717.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,657.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 76.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,916,500.00
P & I AMT: 13,129.22
UPB AMT: 1,915,234.63
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 198
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031736390 MORTGAGORS: SAFAEINILI ALI
SAFAEINILI LISA
REGION CODE ADDRESS : 3199 MONTE CARLO DRIVE
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91362
MORTGAGE AMOUNT : 298,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,978.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,085.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 73.62900
----------------------------------------------------------------
0 0031736416 MORTGAGORS: ENG STEVEN
REGION CODE ADDRESS : 2106 PULLMAN LANES # B
01 CITY : REDONDO BEACH
STATE/ZIP : CA 90278
MORTGAGE AMOUNT : 291,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,755.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,911.66 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 76.57800
----------------------------------------------------------------
0 0031736432 MORTGAGORS: PEARLMAN RONALD
PEARLMAN DENISE
REGION CODE ADDRESS : 2901 NORTH MYERS STREET
01 CITY : BURBANK
STATE/ZIP : CA 91504
MORTGAGE AMOUNT : 240,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,302.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,600.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 78.85200
----------------------------------------------------------------
0 0031736440 MORTGAGORS: SCOTT KENNETH
SCOTT MICHELLE
REGION CODE ADDRESS : 306 ZANZIBAR STREET
01 CITY : MORRO BAY
STATE/ZIP : CA 93442
MORTGAGE AMOUNT : 252,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,303.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,722.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.15300
----------------------------------------------------------------
0 0031736457 MORTGAGORS: MOLHO STEVEN
ADDEN BIRET
REGION CODE ADDRESS : 2053 SEASCAPE BOULEVARD
01 CITY : APTOS
STATE/ZIP : CA 95003
MORTGAGE AMOUNT : 420,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 420,455.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,799.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,503,000.00
P & I AMT: 10,118.86
UPB AMT: 1,501,795.19
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 199
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031736655 MORTGAGORS: SHIN YOON
REGION CODE ADDRESS : 3913 N SHASTA LOOP
01 CITY : EUGENE
STATE/ZIP : OR 97405
MORTGAGE AMOUNT : 236,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,630.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 62.43300
----------------------------------------------------------------
0 0031736770 MORTGAGORS: MARTIN JOHN
MARTIN DIANE
REGION CODE ADDRESS : 3330 LACOCK PLACE
01 CITY : FREMONT
STATE/ZIP : CA 94555
MORTGAGE AMOUNT : 247,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,316.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,730.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031736804 MORTGAGORS: O'CONNOR TIM
O'CONNOR KAREN
REGION CODE ADDRESS : 4353 TUOLUMNE PLACE
01 CITY : CARLSBAD
STATE/ZIP : CA 92008
MORTGAGE AMOUNT : 343,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 342,932.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,341.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031736853 MORTGAGORS: PACKARD WILLIAM
REGION CODE ADDRESS : 328 LLANDRILLO ROAD
01 CITY : BALA CYNWYD
STATE/ZIP : PA 19004
MORTGAGE AMOUNT : 232,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 232,331.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,645.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031737026 MORTGAGORS: TSANTIS ANDREAS
TSANTIS LINDA
REGION CODE ADDRESS : 11911 CASTLEGATE COURT
01 CITY : NORTH BETHESDA
STATE/ZIP : MD 20852
MORTGAGE AMOUNT : 259,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,987.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,724.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,318,400.00
P & I AMT: 9,071.89
UPB AMT: 1,317,567.83
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 200
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031737091 MORTGAGORS: TALLMAN DAVID
BADHAM NEAL
REGION CODE ADDRESS : 300 LOS ANGELES BOULEVARD
01 CITY : SAN ANSELMO
STATE/ZIP : CA 94960
MORTGAGE AMOUNT : 408,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 408,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,817.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031737174 MORTGAGORS: HEIN GLEN
HEIN JOYCE
REGION CODE ADDRESS : 39 JULIA ROAD
01 CITY : TOLLAND
STATE/ZIP : CT 06084
MORTGAGE AMOUNT : 302,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 302,295.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,987.54 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 75.63700
----------------------------------------------------------------
0 0031737224 MORTGAGORS: COHN KENNETH
STOWE-COHN DIANE
REGION CODE ADDRESS : 6 JOSHUA PATH
01 CITY : SOUTH NATICK
STATE/ZIP : MA 01760
MORTGAGE AMOUNT : 370,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 369,711.37 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,524.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.65500
----------------------------------------------------------------
0 0031737232 MORTGAGORS: CHEUNG YIU
CHEUNG KWOK
REGION CODE ADDRESS : 19 WHITETAIL LANE
01 CITY : BERNARDS
STATE/ZIP : NJ 07920
MORTGAGE AMOUNT : 339,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,312.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 64.57100
----------------------------------------------------------------
0 0031737554 MORTGAGORS: SILVA JOHN
CADIGAL SILVA FLORDELIZA
REGION CODE ADDRESS : 32768 BELAMI LOOP
01 CITY : UNION CITY,
STATE/ZIP : CA 94587
MORTGAGE AMOUNT : 256,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,549.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,751.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.98791
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,676,300.00
P & I AMT: 11,393.61
UPB AMT: 1,675,556.90
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 201
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031737620 MORTGAGORS: ISRAEL BARRY
KOGAN-ISRAEL BARBARA
REGION CODE ADDRESS : 5464 EAST OLETA STREET
01 CITY : LONG BEACH
STATE/ZIP : CA 90815
MORTGAGE AMOUNT : 262,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,795.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,787.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 70.81000
----------------------------------------------------------------
0 0031737679 MORTGAGORS: MULHOLLAND JOHN
PASTERNACK JUDITH
REGION CODE ADDRESS : 2365 VALCOURT LANE
01 CITY : GLENDORA
STATE/ZIP : CA 91741
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,744.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,155.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031737695 MORTGAGORS: KELLER ERIC
REGION CODE ADDRESS : 1051 10TH STREET
01 CITY : HERMOSA BEACH
STATE/ZIP : CA 90254
MORTGAGE AMOUNT : 232,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 232,318.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,586.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031737703 MORTGAGORS: KUBACH DOUGLAS
IRELAND PATRICIA
REGION CODE ADDRESS : 1 IVY KNOLL
01 CITY : WESTPORT
STATE/ZIP : CT 06880
MORTGAGE AMOUNT : 485,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 485,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,267.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 77.97400
----------------------------------------------------------------
0 0031737711 MORTGAGORS: MANNIS DAVID
MANNIS JULIE
REGION CODE ADDRESS : 5555 CORAL REEF AVENUE
01 CITY : LA JOLLA
STATE/ZIP : CA 92037
MORTGAGE AMOUNT : 382,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 381,716.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,671.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 72.07500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,681,500.00
P & I AMT: 11,467.79
UPB AMT: 1,680,574.85
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 202
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031737729 MORTGAGORS: VACA LUIS
VACA LILIA
REGION CODE ADDRESS : 2501 CORDOBA WAY
01 CITY : SAN JOSE
STATE/ZIP : CA 95125
MORTGAGE AMOUNT : 279,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,776.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,879.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 76.43800
----------------------------------------------------------------
0 0031737778 MORTGAGORS: KONTOS CHRISTOPHER
KONTOS CHRISTINA
REGION CODE ADDRESS : 14017 CHANDLER BOULEVARD
01 CITY : SHERMAN OAKS
STATE/ZIP : CA 91401
MORTGAGE AMOUNT : 332,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 332,253.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,324.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 72.67700
----------------------------------------------------------------
0 0031737786 MORTGAGORS: SIMPSON CHARLES
REGION CODE ADDRESS : 10817 RANGE VIEW DRIVE
01 CITY : AUSTIN
STATE/ZIP : TX 78730
MORTGAGE AMOUNT : 264,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,846.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,825.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.83300
----------------------------------------------------------------
0 0031737828 MORTGAGORS: YARBROUGH CHARLES
YARBROUGH JULIE
REGION CODE ADDRESS : 1815 ALMOND WAY
01 CITY : MORGAN HILL
STATE/ZIP : CA 95037
MORTGAGE AMOUNT : 339,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 338,519.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,428.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 78.83700
----------------------------------------------------------------
0 0031737836 MORTGAGORS: FINCI JOSEPH
FINCI AUDREY
REGION CODE ADDRESS : 3211 OAKDELL ROAD
01 CITY : STUDIO CITY
STATE/ZIP : CA 91604
MORTGAGE AMOUNT : 570,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 569,555.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,888.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 69.51200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,784,750.00
P & I AMT: 12,346.72
UPB AMT: 1,782,952.02
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 203
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031737919 MORTGAGORS: BRAUER DAVID
BRAUER NICOLE
REGION CODE ADDRESS : 8541 JONERA LANE
01 CITY : HOWELL
STATE/ZIP : MI 48843
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,565.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,041.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031737927 MORTGAGORS: GAVZY GERALD
HASHMALL KATHERINE
REGION CODE ADDRESS : 6953 BUCKINGHAM BOULEVARD
01 CITY : OAKLAND
STATE/ZIP : CA 94705
MORTGAGE AMOUNT : 319,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 318,757.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,203.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 74.18600
----------------------------------------------------------------
0 0031737968 MORTGAGORS: LUCKY FRED
LUCKY SHELLY
REGION CODE ADDRESS : 229 SOUTH WETHERLY DRIVE
01 CITY : BEVERLY HILLS
STATE/ZIP : CA 90211
MORTGAGE AMOUNT : 343,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 343,238.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,372.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 52.84600
----------------------------------------------------------------
0 0031737976 MORTGAGORS: DOUGHERTY EDWARD
DOUGHERTY REAVA
REGION CODE ADDRESS : 663 SUSSEX CIRCLE
01 CITY : VERNON HILLS
STATE/ZIP : IL 60061
MORTGAGE AMOUNT : 293,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 293,071.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,000.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.99600
----------------------------------------------------------------
0 0031737992 MORTGAGORS: GLAGE JOHN
REGION CODE ADDRESS : 25970 MAR VISTA COURT
01 CITY : LOS GATOS
STATE/ZIP : CA 95033
MORTGAGE AMOUNT : 384,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 383,700.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,619.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 67.36800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,631,800.00
P & I AMT: 11,237.83
UPB AMT: 1,630,332.74
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 204
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031738057 MORTGAGORS: TABANKIA SHAHNAZ
REGION CODE ADDRESS : 13216 JONESBORO PLACE
01 CITY : BRENTWOOD
STATE/ZIP : CA 90049
MORTGAGE AMOUNT : 649,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 648,518.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,537.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 69.04200
----------------------------------------------------------------
0 0031738081 MORTGAGORS: HERBERT ERIC
HERBERT FRANCES
REGION CODE ADDRESS : 70 HALF MOON BEND
01 CITY : CORONADO
STATE/ZIP : CA 92118
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,807.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,817.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031738099 MORTGAGORS: KHOZOZIAN MARK
REGION CODE ADDRESS : 34 HANCOCK STREET
01 CITY : LEXINGTON
STATE/ZIP : MA 02173
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,579.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,284.64 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 59.88000
----------------------------------------------------------------
0 0031738115 MORTGAGORS: NASH ADRIAN
NASH CARROLL
REGION CODE ADDRESS : 1811 SOUTH SHENANDOAH STREET
01 CITY : LOS ANGELES
STATE/ZIP : CA 90035
MORTGAGE AMOUNT : 310,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 310,257.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,118.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031738164 MORTGAGORS: MACHUCA MICHAEL
MACHUCA ROWENA
REGION CODE ADDRESS : 1250 LERIDA WAY
01 CITY : PACIFICA
STATE/ZIP : CA 94044
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,769.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,940.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,007,500.00
P & I AMT: 13,698.98
UPB AMT: 2,005,932.79
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 205
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031738172 MORTGAGORS: GREENFIELD WILLIAM
GREENFIELD JACQUELYN
REGION CODE ADDRESS : 5904 HOMEWOOD COURT
01 CITY : LANHAM
STATE/ZIP : MD 20706
MORTGAGE AMOUNT : 239,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,117.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,652.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 82.51700
----------------------------------------------------------------
0 0031738180 MORTGAGORS: BERNICKER RICHARD
BERNICKER LEAH
REGION CODE ADDRESS : 9 HOMEWOOD ROW LANE
01 CITY : HOUSTON
STATE/ZIP : TX 77056
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,712.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,425.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.59300
----------------------------------------------------------------
0 0031738214 MORTGAGORS: SHIOJI JANET
REGION CODE ADDRESS : 1405 SOUTH TRAVIS CIRCLE
01 CITY : IRVING
STATE/ZIP : TX 75038
MORTGAGE AMOUNT : 270,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,533.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,824.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031738271 MORTGAGORS: SULLENBERGER DIANE
ANTONIDES DAVID
REGION CODE ADDRESS : 1541 N. EDGEWOOD STREET
01 CITY : ARLINGTON
STATE/ZIP : VA 22201
MORTGAGE AMOUNT : 254,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,582.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,689.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031738347 MORTGAGORS: PHAM ANTHONY
PHAM JESSICA
REGION CODE ADDRESS : 11403 CYPRESS WOODS DRIVE
01 CITY : SAN DIEGO
STATE/ZIP : CA 92131
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,797.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,981.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,404,050.00
P & I AMT: 9,573.97
UPB AMT: 1,402,743.23
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 206
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031738354 MORTGAGORS: GAMBLE R.C.
GAMBLE MARGARET
REGION CODE ADDRESS : 6106 FOX RUN
01 CITY : FAIRFAX
STATE/ZIP : VA 22030
MORTGAGE AMOUNT : 259,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,307.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,814.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031738396 MORTGAGORS: RIDEOUT ROBERT
RIDEOUT CLAIRE
REGION CODE ADDRESS : 928 MALVERN HILL DRIVE
01 CITY : DAVIDSONVILLE
STATE/ZIP : MD 21035
MORTGAGE AMOUNT : 265,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,585.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,807.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.64700
----------------------------------------------------------------
0 0031738420 MORTGAGORS: REILLY JOHN
REILLY ELIZABETH
REGION CODE ADDRESS : 65 BEARDSLEY ROAD
01 CITY : NEW MILFORD
STATE/ZIP : CT 06776
MORTGAGE AMOUNT : 245,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,866.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,673.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031738479 MORTGAGORS: TURCOTT THOMAS
REGION CODE ADDRESS : 18311 CALUMET LANE
01 CITY : BLUEMONT
STATE/ZIP : VA 20135
MORTGAGE AMOUNT : 387,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 386,423.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,705.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 73.71400
----------------------------------------------------------------
0 0031738495 MORTGAGORS: CARROLL CALVIN
CARROLL PAMELA
REGION CODE ADDRESS : 1300 WYNDMERE DRIVE
01 CITY : DESOTO
STATE/ZIP : TX 75115
MORTGAGE AMOUNT : 243,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,137.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,702.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 89.85200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,400,250.00
P & I AMT: 9,703.82
UPB AMT: 1,398,320.15
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 207
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031738503 MORTGAGORS: DICKEY WILLIAM
DICKEY ADELA
REGION CODE ADDRESS : 2209 TIMBERBROOK TRAIL
01 CITY : FORT WAYNE
STATE/ZIP : IN 46845
MORTGAGE AMOUNT : 253,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,706.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,753.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.11800
----------------------------------------------------------------
0 0031738578 MORTGAGORS: PLAKOS JOHN
PLAKOS MARIE
REGION CODE ADDRESS : 1773 NORTH MODOC STREET
01 CITY : ORANGE
STATE/ZIP : CA 92867
MORTGAGE AMOUNT : 337,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 337,336.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,303.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031738693 MORTGAGORS: HERZOG LONNIE
REGION CODE ADDRESS : 120 HELMSLEY DRIVE
01 CITY : ATLANTA
STATE/ZIP : GA 30327
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,590.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,326.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 48.78000
----------------------------------------------------------------
0 0031738719 MORTGAGORS: FITZGIBBON JOHN
FITZGIBBON BONNIE
REGION CODE ADDRESS : 16 BENITO AVENUE
01 CITY : LA SELVA BEACH
STATE/ZIP : CA 95076
MORTGAGE AMOUNT : 297,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,756.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,975.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 78.36400
----------------------------------------------------------------
0 0031738735 MORTGAGORS: GREENSTREET TIMOTHY
GREENSTREET NANCY
REGION CODE ADDRESS : 3740 CRESTLINE WAY
01 CITY : SOQUEL
STATE/ZIP : CA 95073
MORTGAGE AMOUNT : 338,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 337,729.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,277.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.52900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,726,500.00
P & I AMT: 11,636.28
UPB AMT: 1,725,119.87
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 208
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031738842 MORTGAGORS: SAMTANI MANESH
LESLIE VINITA
REGION CODE ADDRESS : 22 MEDFIELD STREET, UNIT #1
01 CITY : BOSTON
STATE/ZIP : MA 02215
MORTGAGE AMOUNT : 233,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,609.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 76.39300
----------------------------------------------------------------
0 0031738883 MORTGAGORS: SUTTON WALLACE
SUTTON TERESA
REGION CODE ADDRESS : 4419 W. WATROUS AVENUE
01 CITY : TAMPA
STATE/ZIP : FL 33629
MORTGAGE AMOUNT : 258,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,203.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,784.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031739303 MORTGAGORS: DIROCCO JOSEPH
DIROCCO STACIA
REGION CODE ADDRESS : 3507 BROAD RUN DRIVE
01 CITY : FAIRFAX
STATE/ZIP : VA 22033
MORTGAGE AMOUNT : 355,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 354,736.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,482.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.24100
----------------------------------------------------------------
0 0031739311 MORTGAGORS: ROSE PETER
ROSE SUSAN
REGION CODE ADDRESS : 605 FULTON AVENUE
01 CITY : FALLS CHURCH
STATE/ZIP : VA 22046
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,765.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,127.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031739352 MORTGAGORS: HALL DONTHEL
HALL MARIE
REGION CODE ADDRESS : 245 EMERALD LAKE DRIVE
01 CITY : FAYETTEVILLE
STATE/ZIP : GA 30215
MORTGAGE AMOUNT : 308,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 308,509.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,106.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,463,150.00
P & I AMT: 10,109.70
UPB AMT: 1,462,214.70
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 209
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031739428 MORTGAGORS: SULESKI DAVID
COURTRIGHT VALERIE
REGION CODE ADDRESS : 14172 WEST BATES AVENUE
01 CITY : LAKEWOOD
STATE/ZIP : CO 80228
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,608.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,705.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.36500
----------------------------------------------------------------
0 0031739576 MORTGAGORS: FLORES RAMIRO
REGION CODE ADDRESS : 2640 31ST STREET
01 CITY : SANT MONICA
STATE/ZIP : CA 90405
MORTGAGE AMOUNT : 431,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 430,688.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,050.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 74.95600
----------------------------------------------------------------
0 0031739626 MORTGAGORS: VILLARINHO ALEXANDRE
VILLARINHO DEANA
REGION CODE ADDRESS : 16342 SUN SUMMIT DRIVE
01 CITY : RIVERSIDE
STATE/ZIP : CA 92503
MORTGAGE AMOUNT : 229,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 228,825.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,581.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 77.62700
----------------------------------------------------------------
0 0031739774 MORTGAGORS: STURTEVANT JAMES
STURTEVANT RANDIE
REGION CODE ADDRESS : 4245 CALLE MAR DE BALLENAS
01 CITY : SAN DIEGO
STATE/ZIP : CA 92130
MORTGAGE AMOUNT : 278,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,777.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,872.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 89.99600
----------------------------------------------------------------
0 0031739808 MORTGAGORS: MACHNICKI MARIO
MACHNICKI MARY
REGION CODE ADDRESS : 1475 INDIAN TRAIL DRIVE
01 CITY : RIVERWOODS
STATE/ZIP : IL 60015
MORTGAGE AMOUNT : 644,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 643,545.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,613.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 72.35900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,832,000.00
P & I AMT: 12,824.32
UPB AMT: 1,830,445.74
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 210
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031739824 MORTGAGORS: AINSLIE MICHAEL
AINSLIE KAREN
REGION CODE ADDRESS : 3420 O STREET N.W.
01 CITY : WASHINGTON
STATE/ZIP : DC 20007
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,558.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,235.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031739915 MORTGAGORS: WU CLIFF
WU LINDA
REGION CODE ADDRESS : 5092 HILLCREST WAY
01 CITY : PLEASANTON,
STATE/ZIP : CA 94588
MORTGAGE AMOUNT : 348,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 347,728.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,373.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031739964 MORTGAGORS: HELKE JAMES
SUTTON ROBERT
REGION CODE ADDRESS : 27603 SUNNYRIDGE ROAD,
01 CITY : PALOS VERDES PENINSULA,
STATE/ZIP : CA 90274
MORTGAGE AMOUNT : 577,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 577,071.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,037.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031739972 MORTGAGORS: KENT DONALD
KENT CARA
REGION CODE ADDRESS : 601 COLE RANCH ROAD
01 CITY : ENCINITAS
STATE/ZIP : CA 92024
MORTGAGE AMOUNT : 281,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,035.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,942.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031740004 MORTGAGORS: BOWMAN TULLY
BOWMAN DONALDINE
REGION CODE ADDRESS : 1020 CRAGMONT AVENUE
01 CITY : BERKELEY,
STATE/ZIP : CA 94708
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,566.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,819.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 59.34000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,788,750.00
P & I AMT: 12,408.74
UPB AMT: 1,786,960.94
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 211
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031740012 MORTGAGORS: PELIKAN MICHAEL
PELIKAN SHANNON
REGION CODE ADDRESS : 2613 TARTAN DRIVE
01 CITY : SANTA CLARA
STATE/ZIP : CA 95051
MORTGAGE AMOUNT : 254,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,588.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,797.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.37500
----------------------------------------------------------------
0 0031740095 MORTGAGORS: SMALL DONALD
SMALL KAREN
REGION CODE ADDRESS : 28402 VIA ORDAZ
01 CITY : SAN JUAN CAPISTRANO
STATE/ZIP : CA 92675
MORTGAGE AMOUNT : 352,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 351,745.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,491.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031740145 MORTGAGORS: WILLIAMS PATRICK
WILLIAMS TRACY
REGION CODE ADDRESS : 21422 VISTA ESTATE DRIVE
01 CITY : LAKE FOREST
STATE/ZIP : CA 92630
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,786.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,933.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031740202 MORTGAGORS: RYAN VICKI
RYAN JANIE
REGION CODE ADDRESS : 404 HENDERSON DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95123
MORTGAGE AMOUNT : 275,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,173.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,949.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031740210 MORTGAGORS: MESSROBIAN GARABED
MESSROBIAN ANNE
REGION CODE ADDRESS : 314 EBB TIDE WAY
01 CITY : PISMO BEACH
STATE/ZIP : CA 93449
MORTGAGE AMOUNT : 322,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 321,766.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,279.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,483,500.00
P & I AMT: 10,452.22
UPB AMT: 1,482,061.49
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 212
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031740244 MORTGAGORS: GAITAN DAVID
GAITAN NATALIE
REGION CODE ADDRESS : 32704 REGENTS BOULEVARD
01 CITY : UNION CITY
STATE/ZIP : CA 94587
MORTGAGE AMOUNT : 238,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,746.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,705.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.33300
----------------------------------------------------------------
0 0031740269 MORTGAGORS: SMITH RONALD
SMITH LORETTA
REGION CODE ADDRESS : 2022 LAW STREET
01 CITY : SAN DIEGO,
STATE/ZIP : CA 92109
MORTGAGE AMOUNT : 273,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,802.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,932.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 74.79400
----------------------------------------------------------------
0 0031740277 MORTGAGORS: ONG RAYMOND
ONG LEIGHANN
REGION CODE ADDRESS : 1382 DEVONA TERRACE
01 CITY : SUNNYVALE
STATE/ZIP : CA 94087
MORTGAGE AMOUNT : 475,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 474,638.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,280.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 74.21800
----------------------------------------------------------------
0 0031741069 MORTGAGORS: PALUSZEK MATTHEW
REGION CODE ADDRESS : UNIT # 2, 38 LINDEN STREET
01 CITY : BROOKLINE
STATE/ZIP : MA 02146
MORTGAGE AMOUNT : 251,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,653.82 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031741085 MORTGAGORS: KASKUBA THOMAS
SHUCHAT RONA
REGION CODE ADDRESS : 173 BERLIN ROAD
01 CITY : BOLTON
STATE/ZIP : MA 01740
MORTGAGE AMOUNT : 322,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 321,627.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,620.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/18
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,559,950.00
P & I AMT: 11,192.18
UPB AMT: 1,558,564.19
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 213
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031741457 MORTGAGORS: NGUYEN ROBIN
NGUYEN SON
REGION CODE ADDRESS : 184 ESSEX STREET
01 CITY : SAUGUS
STATE/ZIP : MA 01906
MORTGAGE AMOUNT : 241,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,016.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,665.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031741564 MORTGAGORS: BROWN PAUL
COE JULIE
REGION CODE ADDRESS : 33 SNOWDEN PLACE
01 CITY : GLEN RIDGE
STATE/ZIP : NJ 07028
MORTGAGE AMOUNT : 265,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,834.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031741614 MORTGAGORS: WHEATLEY ROBERT
WHEATLEY JULIANE
REGION CODE ADDRESS : 447 RIVERIA DRIVE
01 CITY : LAKE ARROWHEAD
STATE/ZIP : CA 92352
MORTGAGE AMOUNT : 237,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,824.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,657.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 69.70500
----------------------------------------------------------------
0 0031741655 MORTGAGORS: FLENNIKEN DARRELL
FLENNIKEN JAN
REGION CODE ADDRESS : 25035 PORTSMOUTH
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,781.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,587.98 OUTSIDE CONV DATE :
LIFETIME RATE : 6.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031741663 MORTGAGORS: KRISHNA CHARLES
KRISHNA SHAMI
REGION CODE ADDRESS : 2031 WALNUT AVE
01 CITY : VENICE
STATE/ZIP : CA 90291
MORTGAGE AMOUNT : 392,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 391,709.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,740.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,383,800.00
P & I AMT: 9,486.39
UPB AMT: 1,382,930.84
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 214
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031741689 MORTGAGORS: FROST LINDA
FROST FREDERICK
REGION CODE ADDRESS : 9321 QUERCUS DRIVE
01 CITY : REDLANDS AREA
STATE/ZIP : CA 92339
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,818.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,706.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031741705 MORTGAGORS: HAYES LARRY
CHRISTENSEN LANE
REGION CODE ADDRESS : 13229 MIDDLE CANYON ROAD
01 CITY : CARMEL VALLEY
STATE/ZIP : CA 93924
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,600.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,368.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031741713 MORTGAGORS: MATSUSHIMA GLENN
MATSUSHIMA JOANN
REGION CODE ADDRESS : 16631 WANDERER LANE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92649
MORTGAGE AMOUNT : 338,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 337,708.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,393.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 76.86300
----------------------------------------------------------------
0 0031741739 MORTGAGORS: GARCIA JOHN
GARCIA SOFIA
REGION CODE ADDRESS : 4435 EAST ARDMORE STREET
01 CITY : ANAHEIM
STATE/ZIP : CA 92807
MORTGAGE AMOUNT : 266,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,797.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,837.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.23500
----------------------------------------------------------------
0 0031741762 MORTGAGORS: BRYANT JAY
BRYANT JENNIFER
REGION CODE ADDRESS : 3998 YOLO DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95136
MORTGAGE AMOUNT : 240,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,312.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,640.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.90033
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,588,700.00
P & I AMT: 10,946.28
UPB AMT: 1,587,237.92
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 215
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031741796 MORTGAGORS: MANNING COREY
MANNING DARCI
REGION CODE ADDRESS : 2 ROCKROSE
01 CITY : ALISO VIEJO AREA
STATE/ZIP : CA 92656
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,785.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,177.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031741812 MORTGAGORS: DENNIS STEVEN
DENNIS KAREN
REGION CODE ADDRESS : 3221 YELLOWTAIL DRIVE
01 CITY : LOS ALAMITOS
STATE/ZIP : CA 90720
MORTGAGE AMOUNT : 299,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 298,966.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,041.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031741838 MORTGAGORS: DOLAN PETER
DOLAN MICHELLE
REGION CODE ADDRESS : 22545 CONIL
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92691
MORTGAGE AMOUNT : 269,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,373.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,771.08 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031741846 MORTGAGORS: VAN HERPEN WILLIAM
VAN HERPEN DENISE
REGION CODE ADDRESS : 40 VIA TRONIDO
01 CITY : RANCHO SANTA MARGARITA
STATE/ZIP : CA 92688
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,795.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031742026 MORTGAGORS: CLOPTON ROBERT
CLOPTON ANGELA
REGION CODE ADDRESS : 7016 SOUTH CHARLESTON OAKS DRIVE
01 CITY : MOBILE
STATE/ZIP : AL 36695
MORTGAGE AMOUNT : 265,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,737.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,791.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,398,750.00
P & I AMT: 9,577.55
UPB AMT: 1,397,862.87
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 216
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031742042 MORTGAGORS: KENNY SANDRA
REGION CODE ADDRESS : 3914 N. MARSHFIELD
01 CITY : CHICAGO
STATE/ZIP : IL 60631
MORTGAGE AMOUNT : 375,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 375,192.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,498.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 72.91200
----------------------------------------------------------------
0 0031742208 MORTGAGORS: STRONG BRANDON
REGION CODE ADDRESS : 3626 LLOYD TERRACE
01 CITY : SAN DIEGO
STATE/ZIP : CA 92117
MORTGAGE AMOUNT : 266,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,812.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,905.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031742224 MORTGAGORS: BROWN GREGORY
BROWN KIM
REGION CODE ADDRESS : 8033 MAMMOTH DRIVE
01 CITY : ROHNERT PARK
STATE/ZIP : CA 94928
MORTGAGE AMOUNT : 263,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,204.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,841.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 94.99000
----------------------------------------------------------------
0 0031742232 MORTGAGORS: SHERWOOD MARK
SHERWOOD MAUREEN
REGION CODE ADDRESS : 25652 PACIFIC CREST DRIVE
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 344,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 343,738.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,375.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031742240 MORTGAGORS: PEARL GREGORY
PEARL LINDA
REGION CODE ADDRESS : 4097 HESSEL ROAD
01 CITY : SEBASTOPOL
STATE/ZIP : CA 95472
MORTGAGE AMOUNT : 311,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 310,751.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,095.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 70.68100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,559,900.00
P & I AMT: 10,716.80
UPB AMT: 1,558,698.52
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 217
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031742281 MORTGAGORS: FREEDMAN C
REGION CODE ADDRESS : GREENRIDGE ROAD
01 CITY : CARMEL
STATE/ZIP : CA 93923
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,777.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 69.76700
----------------------------------------------------------------
0 0031742299 MORTGAGORS: NGUYEN LINH
REGION CODE ADDRESS : 983 NORTH CHEYENNE ST.
01 CITY : ORANGE
STATE/ZIP : CA 92869
MORTGAGE AMOUNT : 447,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 447,199.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,055.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.98700
----------------------------------------------------------------
0 0031742315 MORTGAGORS: CREEGAN DANIEL
CREEGAN FRAN
REGION CODE ADDRESS : 971 NORTH CHEYENNE STREET
01 CITY : ORANGE
STATE/ZIP : CA 92869
MORTGAGE AMOUNT : 386,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 386,094.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,637.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99500
----------------------------------------------------------------
0 0031742331 MORTGAGORS: NABER ROBERT
REGION CODE ADDRESS : 3 WEISS COURT
01 CITY : ALAMEDA
STATE/ZIP : CA 94501
MORTGAGE AMOUNT : 282,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,235.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,950.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.98244
----------------------------------------------------------------
0 0031742349 MORTGAGORS: SRIHAMSHA ADUGODI
REDDY ROOPA
REGION CODE ADDRESS : 32769 BELAMI LOOP
01 CITY : UNION CITY
STATE/ZIP : CA 94587
MORTGAGE AMOUNT : 259,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,892.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,745.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.98000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,676,150.00
P & I AMT: 11,487.53
UPB AMT: 1,674,199.13
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 218
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031742356 MORTGAGORS: CHAN ADRIAN
WEI CONNIE
REGION CODE ADDRESS : 1818 FUMIA PLACE
01 CITY : SAN JOSE
STATE/ZIP : CA 95131
MORTGAGE AMOUNT : 343,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 343,238.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,372.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
0 0031742497 MORTGAGORS: RICH DAVID
REGION CODE ADDRESS : 4304 MAIZE DRIVE
01 CITY : PLANO
STATE/ZIP : TX 75093
MORTGAGE AMOUNT : 280,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,250.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,911.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031743032 MORTGAGORS: STONE TIMOTHY
STONE TEENA
REGION CODE ADDRESS : 8207 EAST FLOWERWOOD AVENUE
01 CITY : ORANGE
STATE/ZIP : CA 92869
MORTGAGE AMOUNT : 274,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,550.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,872.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031743040 MORTGAGORS: CARLO JANEEN
WINTERBOURNE MADELYN
REGION CODE ADDRESS : 129 LORI LANE
01 CITY : APTOS
STATE/ZIP : CA 95003
MORTGAGE AMOUNT : 345,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 344,724.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,324.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.86100
----------------------------------------------------------------
0 0031743164 MORTGAGORS: ROWLEY IVAN
REGION CODE ADDRESS : 3511 RUNNYMEADE DRIVE
01 CITY : NEWTOWN SQUARE
STATE/ZIP : PA 19073
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,970.79 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 52.35600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,543,300.00
P & I AMT: 10,452.31
UPB AMT: 1,542,762.73
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 219
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031743198 MORTGAGORS: PARK SUNG
PARK SOON
REGION CODE ADDRESS : 6404 CHARTRES DRIVE
01 CITY : RANCHO PALOS VERDES
STATE/ZIP : CA 90275
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,782.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,123.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 35.50200
----------------------------------------------------------------
0 0031743230 MORTGAGORS: GILLESPIE ANDREW
GILLESPIE CYNTHIA
REGION CODE ADDRESS : 24 WINDGATE
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,750.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,182.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031743255 MORTGAGORS: SCHEINER DAVID
REGION CODE ADDRESS : 111 1/2 INMAN STREET, UNIT C
01 CITY : CAMBRIDGE
STATE/ZIP : MA 02139
MORTGAGE AMOUNT : 243,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,678.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 64.97300
----------------------------------------------------------------
0 0031743313 MORTGAGORS: LUDDY BRIAN
LUDDY CHARLENE
REGION CODE ADDRESS : 5676 DIABLO HILLS ROAD
01 CITY : TRES PINOS
STATE/ZIP : CA 95075
MORTGAGE AMOUNT : 282,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,650.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,927.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 56.50000
----------------------------------------------------------------
0 0031743354 MORTGAGORS: WIDELL DOUGLAS
WIDELL COLLEEN
REGION CODE ADDRESS : 7522 NUTHATCH CIRCLE
01 CITY : PARKER
STATE/ZIP : CO 80134
MORTGAGE AMOUNT : 331,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,430.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,264.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,477,450.00
P & I AMT: 10,176.33
UPB AMT: 1,474,614.11
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 220
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031743362 MORTGAGORS: DRUMMOND DAVID
DRUMMOND JILL
REGION CODE ADDRESS : 15124 NW EUGENE LANE
01 CITY : PORTLAND
STATE/ZIP : OR 97229
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,627.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,748.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.61700
----------------------------------------------------------------
0 0031743388 MORTGAGORS: DENTON MICHAEL
DENTON KIMBERLY
REGION CODE ADDRESS : 15002 HUNTERS GATE CIRCLE
01 CITY : CHINO HILLS
STATE/ZIP : CA 91709
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,512.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,048.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031743404 MORTGAGORS: BAILEY BRUCE
BAILEY CATHERINE
REGION CODE ADDRESS : 6300 CARDINAL HILL PLACE
01 CITY : SPRINGFIELD
STATE/ZIP : VA 22152
MORTGAGE AMOUNT : 361,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 361,055.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,406.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 87.14400
----------------------------------------------------------------
0 0031743495 MORTGAGORS: TUCKER FRANK
TUCKER SHANNON
REGION CODE ADDRESS : 556 EAST CULVER AVENUE
01 CITY : ORANGE
STATE/ZIP : CA 92866
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,812.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,637.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031743511 MORTGAGORS: WILLIAMS RICK
WILLIAMS DEBBIE
REGION CODE ADDRESS : 489 UNCLE JOES LANE
01 CITY : NEWCASTLE
STATE/ZIP : CA 95658
MORTGAGE AMOUNT : 251,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,748.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,697.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 89.98200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,407,600.00
P & I AMT: 9,536.86
UPB AMT: 1,405,756.80
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 221
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031743537 MORTGAGORS: PESSOA DAVID
LANES ANA
REGION CODE ADDRESS : 19415 MAC GREGOR CIRCLE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92648
MORTGAGE AMOUNT : 239,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,999.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,571.38 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031743602 MORTGAGORS: BOTS KENNETH
BOTS MARY
REGION CODE ADDRESS : XXX OAK RIVER TERRACE
01 CITY : DAYTONA BEACH
STATE/ZIP : FL 32127
MORTGAGE AMOUNT : 238,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,463.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,770.86 OUTSIDE CONV DATE :
LIFETIME RATE : 8.12500 MATURITY DATE : 05/01/28
CURRENT INT RATE: 8.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031743636 MORTGAGORS: DOUGHERTY FRANCIS
DOUGHERTY SHARON
REGION CODE ADDRESS : 48 BRITTANY BOULEVARD
01 CITY : TOWNSHIP OF EVESHAM
STATE/ZIP : NJ 08053
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,668.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,740.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 79.71409
----------------------------------------------------------------
0 0031743644 MORTGAGORS: SUMMERS JEFFREY
REGION CODE ADDRESS : 3060 N RIDGECREST #153
01 CITY : MESA
STATE/ZIP : AZ 85207
MORTGAGE AMOUNT : 251,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,284.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,781.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0031743651 MORTGAGORS: BLANKENSHIP FRANK
BLANKENSHIP RITA
REGION CODE ADDRESS : 1019 VALLEY FORGE DRIVE
01 CITY : ARRINGTON
STATE/ZIP : TN 37014
MORTGAGE AMOUNT : 242,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,943.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,674.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 84.34700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,211,850.00
P & I AMT: 8,538.47
UPB AMT: 1,209,358.97
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 222
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031743677 MORTGAGORS: HAWKINS DONALD
HAWKINS JUANA
REGION CODE ADDRESS : 140 EAST THREE R AVENUE
01 CITY : PATAGONIA
STATE/ZIP : AZ 85624
MORTGAGE AMOUNT : 247,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,492.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,727.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031743685 MORTGAGORS: FERRIER JAMES
FERRIER ROBIN
REGION CODE ADDRESS : 275 HOOPALUA DRIVE
01 CITY : PUKALANI
STATE/ZIP : HI 96768
MORTGAGE AMOUNT : 424,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 423,368.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,964.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031743701 MORTGAGORS: RUBINSON BARRY
RUBINSON LINDA
REGION CODE ADDRESS : 4 HEARTLAND COURT
01 CITY : DANVILLE
STATE/ZIP : CA 94506
MORTGAGE AMOUNT : 517,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 517,125.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,662.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031743719 MORTGAGORS: KUEFFER MITCHELL
KUEFFER KAREN
REGION CODE ADDRESS : 2100 DERBY LANE
01 CITY : BRASELTON
STATE/ZIP : GA 30517
MORTGAGE AMOUNT : 430,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 429,012.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,969.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 72.51200
----------------------------------------------------------------
0 0031743735 MORTGAGORS: MC CULLOUGH CHARLES
MC CULLOUGH MICHELLE
REGION CODE ADDRESS : R.R.1, BOX 182-FF
01 CITY : AUBREY
STATE/ZIP : TX 46227
MORTGAGE AMOUNT : 408,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 407,120.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,922.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,026,500.00
P & I AMT: 14,247.43
UPB AMT: 2,019,119.11
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 223
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031743750 MORTGAGORS: KELLY JERE
KELLY PATRICIA
REGION CODE ADDRESS : 134 LIDO
01 CITY : AUSTIN
STATE/ZIP : TX 78734
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,439.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,748.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 66.66600
----------------------------------------------------------------
0 0031743768 MORTGAGORS: ROSENTHAL JONATHAN
ROSENTHAL LAURA
REGION CODE ADDRESS : 18 COLLEGE PARK DR
01 CITY : DAVIS
STATE/ZIP : CA 95616
MORTGAGE AMOUNT : 415,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 414,366.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,866.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.45100
----------------------------------------------------------------
0 0031743784 MORTGAGORS: VENZOR RUBEN
VENZOR THERESA
REGION CODE ADDRESS : 1334 VIA ESPERANZA
01 CITY : SAN DIMAS
STATE/ZIP : CA 91773
MORTGAGE AMOUNT : 244,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,777.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,686.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031743792 MORTGAGORS: SHTRAKS PAUL
RAVICH INNA
REGION CODE ADDRESS : 1148 WRIGHT ROAD
01 CITY : LOWER MORELAND TOWNSHIP
STATE/ZIP : PA 19006
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,628.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,811.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031743800 MORTGAGORS: OWENS JEFFREY
OWENS ELIZABETH
REGION CODE ADDRESS : 236 BENT TWIG AVENUE
01 CITY : CAMARILLO
STATE/ZIP : CA 93012
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,609.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,768.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 94.99000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,421,150.00
P & I AMT: 9,880.72
UPB AMT: 1,418,821.13
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 224
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031743826 MORTGAGORS: SCHINDLER ROBERT
SCHINDLER KIMBERLEE
REGION CODE ADDRESS : 2566 SOUTH BUENOS AIRES DRIVE
01 CITY : COVINA
STATE/ZIP : CA 91724
MORTGAGE AMOUNT : 347,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 346,643.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,339.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031743842 MORTGAGORS: ENDLER THOMAS
ENDLER MYRA
REGION CODE ADDRESS : 9137 SCOTT STREET
01 CITY : SPRINGFIELD
STATE/ZIP : CA 22153
MORTGAGE AMOUNT : 295,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,781.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,062.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.72900
----------------------------------------------------------------
0 0031743859 MORTGAGORS: BOLLINGER BRUCE
ROBINSON LINDA
REGION CODE ADDRESS : 28442 VIA MONDANO
01 CITY : SAN JUAN CAPISTRANO
STATE/ZIP : CA 92675
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,586.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,800.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 67.17700
----------------------------------------------------------------
0 0031743867 MORTGAGORS: SOLIMAN EDDIE
SOLIMAN JOANNE
REGION CODE ADDRESS : 6078 ALCANTE DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95129
MORTGAGE AMOUNT : 416,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 415,650.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,732.83 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031743891 MORTGAGORS: TIERS MICHAEL
TIERS MARLA
REGION CODE ADDRESS : 5444 E CROCUS DRIVE
01 CITY : SCOTTSDALE
STATE/ZIP : AZ 85254
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,572.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,933.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 65.11600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,602,200.00
P & I AMT: 10,869.51
UPB AMT: 1,600,234.03
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 225
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031743909 MORTGAGORS: VENN CHRISTOPHER
VENN KATHERINE
REGION CODE ADDRESS : 2810 SAN RAMON DRIVE
01 CITY : RANCHO PALOS VERDES
STATE/ZIP : CA 90275
MORTGAGE AMOUNT : 355,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 354,709.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,361.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 70.29700
----------------------------------------------------------------
0 0031743925 MORTGAGORS: RAWLINGS-MILTON HERBERT
RAWLINGS-MILTON MARY
REGION CODE ADDRESS : 5711 NORTH 25TH ROAD
01 CITY : ARLINGTON
STATE/ZIP : VA 22207
MORTGAGE AMOUNT : 249,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,610.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,698.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 88.29700
----------------------------------------------------------------
0 0031743941 MORTGAGORS: BRANCO DEBRA
REGION CODE ADDRESS : 2625 RIVER RD
01 CITY : TOWNSHIP OF WALL
STATE/ZIP : NJ 07719
MORTGAGE AMOUNT : 440,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 439,014.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,076.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031743966 MORTGAGORS: LEE PHILLIP
LEE CHRISTINE
REGION CODE ADDRESS : 1 BRILLANTEZ
01 CITY : IRVINE
STATE/ZIP : CA 92720
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,813.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,692.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 68.05500
----------------------------------------------------------------
0 0031743982 MORTGAGORS: GARIKES MARGARET
GARIKES GEORGE
REGION CODE ADDRESS : 136 F STREET S.E.
01 CITY : WASHINGTON
STATE/ZIP : DC 20003
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,566.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,961.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,573,000.00
P & I AMT: 10,790.68
UPB AMT: 1,570,713.60
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 226
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031743990 MORTGAGORS: DAS JOHN
DAS JENNIFER
REGION CODE ADDRESS : 3 GAZANIA TERRACE
01 CITY : FREMONT
STATE/ZIP : CA 94536
MORTGAGE AMOUNT : 247,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,613.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,684.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031744014 MORTGAGORS: HAGOPIAN PHILIP
REGION CODE ADDRESS : 4576 NORTH VAN NESS BOULEVARD
01 CITY : FRESNO
STATE/ZIP : CA 93704
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,543.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,991.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031744063 MORTGAGORS: VIEREGG JOHN
VIEREGG KELLEY
REGION CODE ADDRESS : 1846 CASSAMIA PLACE
01 CITY : CHARLOTTE
STATE/ZIP : NC 28211
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,564.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,123.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 65.21700
----------------------------------------------------------------
0 0031744113 MORTGAGORS: SIMPKINS HARVEY
SIMPKINS LILLIE
REGION CODE ADDRESS : 14207 ROCK CANYON DRIVE
01 CITY : CENTREVILLE
STATE/ZIP : VA 20121
MORTGAGE AMOUNT : 254,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,612.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,754.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 84.10500
----------------------------------------------------------------
0 0031744139 MORTGAGORS: PATRO RICHARD
PATRO COLLEEN
REGION CODE ADDRESS : 604 WOOD GLENN COURT
01 CITY : LUTHERVILLE-TIMONIUM
STATE/ZIP : MD 21093
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,598.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,684.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 63.93800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,343,000.00
P & I AMT: 9,238.93
UPB AMT: 1,340,932.10
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 227
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031744170 MORTGAGORS: YAO HANLONG
LI XUAN
REGION CODE ADDRESS : 14808 CARONA DRIVE
01 CITY : SILVER SPRING
STATE/ZIP : MD 20905
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,486.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,155.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031744220 MORTGAGORS: HERRERA GILBERT
REGION CODE ADDRESS : 29547 BERNICE DRIVE
01 CITY : RANCHO PALOS VERDES
STATE/ZIP : CA 90275
MORTGAGE AMOUNT : 274,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,786.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,869.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.86300
----------------------------------------------------------------
0 0031744238 MORTGAGORS: LIPTON BARRY
WESTON SANDRA
REGION CODE ADDRESS : 1327 HARMONY COURT
01 CITY : THOUSAND OAKS,
STATE/ZIP : CA 91362
MORTGAGE AMOUNT : 344,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 343,710.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,259.84 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031744253 MORTGAGORS: CADDELL ALAN
CADDELL SUZETTE
REGION CODE ADDRESS : 964 N SONORA CIRCLE
01 CITY : ORANGE
STATE/ZIP : CA 92869
MORTGAGE AMOUNT : 374,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 373,778.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,585.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.99300
----------------------------------------------------------------
0 0031744261 MORTGAGORS: VU JOHN
VU LOIS
REGION CODE ADDRESS : 5530 WINDEMERE DRIVE
01 CITY : YORBA LINDA
STATE/ZIP : CA 92886
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,805.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,761.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 86.29400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,567,350.00
P & I AMT: 10,631.68
UPB AMT: 1,565,568.42
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 228
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031744295 MORTGAGORS: FUKUOKA CARY
FUKUOKA CHERYL
REGION CODE ADDRESS : 51 TRAILWOOD
01 CITY : IRVINE
STATE/ZIP : CA 92620
MORTGAGE AMOUNT : 368,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 367,438.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,541.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031744303 MORTGAGORS: DEPAOLO RICHARD
REGION CODE ADDRESS : 1205 BENT CREEK DRIVE
01 CITY : SOUTHLAKE
STATE/ZIP : TX 76092
MORTGAGE AMOUNT : 387,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 386,448.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,607.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 70.36300
----------------------------------------------------------------
0 0031744311 MORTGAGORS: BURKE MICHAEL
BURKE DEBRA
REGION CODE ADDRESS : 9881 HOT SPRINGS DRIVE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92646
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,560.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,989.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031744410 MORTGAGORS: ZELDITCH ALEXEI
CHALDO ELENA
REGION CODE ADDRESS : 22420 OLD LOGGING ROAD
01 CITY : LOS GATOS,
STATE/ZIP : CA 95030
MORTGAGE AMOUNT : 390,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 389,688.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,627.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.59100
----------------------------------------------------------------
0 0031744428 MORTGAGORS: HEINLEIN EDWARD
HEINLEIN CAROLYN
REGION CODE ADDRESS : 4 ST. ANDREWS GARTH
01 CITY : SEVERNA PARK
STATE/ZIP : MD 21146
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,615.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,616.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 67.98800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,673,000.00
P & I AMT: 11,382.55
UPB AMT: 1,670,749.83
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 229
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031744444 MORTGAGORS: TAGG STEPHEN
TAGG KATHEL
REGION CODE ADDRESS : 11925 GAINSBOROUGH ROAD
01 CITY : POTOMAC
STATE/ZIP : MD 20854
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,530.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,046.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031744477 MORTGAGORS: BARTELSON WILLIAM
BARTELSON JOAN
REGION CODE ADDRESS : 113 JAPONICA COURT
01 CITY : CAMARILLO
STATE/ZIP : CA 93012
MORTGAGE AMOUNT : 257,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,013.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,820.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031744493 MORTGAGORS: CHIEN MINZE
CHIEN NIYUAN
REGION CODE ADDRESS : 10806 HILLBROOKE LANE
01 CITY : POTOMAC
STATE/ZIP : MD 20854
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,790.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,899.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.57100
----------------------------------------------------------------
0 0031744519 MORTGAGORS: OLSEN JEFFREY
ST. LEDGER-ROTY JUDITH
REGION CODE ADDRESS : 59 WINDY HOLLOW COURT
01 CITY : GREAT FALLS
STATE/ZIP : VA 22066
MORTGAGE AMOUNT : 610,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 608,956.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,161.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 42.06800
----------------------------------------------------------------
0 0031744527 MORTGAGORS: CONDON JOHN
CONDON KIMBERLY
REGION CODE ADDRESS : 415 WEST HILL DRIVE
01 CITY : BERTHOUD
STATE/ZIP : CO 80513
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,716.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,933.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.54500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,722,200.00
P & I AMT: 11,861.51
UPB AMT: 1,720,007.98
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 230
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031744543 MORTGAGORS: NOBLE LAWRENCE
BAK PATRICIA
REGION CODE ADDRESS : 9438 SUNNYFIELD COURT
01 CITY : POTOMAC
STATE/ZIP : MD 20854
MORTGAGE AMOUNT : 432,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 431,323.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,947.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.83700
----------------------------------------------------------------
0 0031744568 MORTGAGORS: FIERTZ RANDALL
FIERTZ CAROL
REGION CODE ADDRESS : 5807 RIDGEFIELD ROAD
01 CITY : BETHESDA
STATE/ZIP : MD 20816
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,511.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,210.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 67.36800
----------------------------------------------------------------
0 0031744576 MORTGAGORS: SPIES PAUL
SPIES SUSAN
REGION CODE ADDRESS : 8318 PLUM CREEK DRIVE
01 CITY : GAITHERSBURG
STATE/ZIP : MD 20882
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,768.45 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,181.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 63.03000
----------------------------------------------------------------
0 0031744584 MORTGAGORS: BURNS JAMES
BURNS DEBORAH
REGION CODE ADDRESS : 2216 LINK ROAD
01 CITY : SILVER SPRING
STATE/ZIP : MD 20905
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,726.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,387.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 64.81400
----------------------------------------------------------------
0 0031744600 MORTGAGORS: DIAMOND MICHAEL
MITTLEMAN BARBARA
REGION CODE ADDRESS : 8512 THORNDEN TERRACE
01 CITY : BETHESDA
STATE/ZIP : MD 20817
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,177.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,326.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,914,000.00
P & I AMT: 13,052.84
UPB AMT: 1,911,508.82
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 231
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031744642 MORTGAGORS: PISANO CARL
PISANO SANDRA
REGION CODE ADDRESS : 4911 CHEVY CHASE BLVD
01 CITY : CHEVY CHASE
STATE/ZIP : MD 20815
MORTGAGE AMOUNT : 355,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 354,280.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,451.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 69.60700
----------------------------------------------------------------
0 0031744709 MORTGAGORS: BERMAN BRIAN
REGION CODE ADDRESS : 3166 CANTER WAY
01 CITY : DULUTH
STATE/ZIP : GA 30097
MORTGAGE AMOUNT : 287,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,131.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,984.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 94.99000
----------------------------------------------------------------
0 0031744782 MORTGAGORS: MARTINEZ RICHARD
MARTINEZ VERONICA
REGION CODE ADDRESS : 18731 STRATTON LANE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92648
MORTGAGE AMOUNT : 330,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 329,755.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,307.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.57100
----------------------------------------------------------------
0 0031744832 MORTGAGORS: MEEK PATRICK
REGION CODE ADDRESS : 28252 PASEO ANDANTE
01 CITY : SAN JUAN CAPISTRANO
STATE/ZIP : CA 92675
MORTGAGE AMOUNT : 317,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 316,758.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,189.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 57.63600
----------------------------------------------------------------
0 0031744972 MORTGAGORS: MARSHALL RYAN
OLARTE MICHAEL
REGION CODE ADDRESS : 1915 EAST JEFFERSON STREET
01 CITY : SEATTLE
STATE/ZIP : WA 98122
MORTGAGE AMOUNT : 297,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,000.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,586,350.00
P & I AMT: 10,934.35
UPB AMT: 1,584,925.59
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 232
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031745144 MORTGAGORS: BODEMEIJER ANDREW
BODEMEIJER LISA
REGION CODE ADDRESS : 3406 EAST COUNTRY CLUB LANE
01 CITY : SACRAMENTO
STATE/ZIP : CA 95821
MORTGAGE AMOUNT : 256,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,749.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031745276 MORTGAGORS: MCPHERSON DOUGLAS
MCPHERSON LAURA
REGION CODE ADDRESS : 9 POINT SAN PEDRO RD
01 CITY : SAN RAFAEL
STATE/ZIP : CA 94901
MORTGAGE AMOUNT : 251,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,825.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,756.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.98500
----------------------------------------------------------------
0 0031745292 MORTGAGORS: HARKEY CHARLES
HARKEY CAROLYN
REGION CODE ADDRESS : 6921 EAST CYPRESSHEAD DRIVE
01 CITY : PARKLAND
STATE/ZIP : FL 33067
MORTGAGE AMOUNT : 286,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,563.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,975.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 77.29700
----------------------------------------------------------------
0 0031745300 MORTGAGORS: FORSYTHE RICHARD
FORSYTHE SARA
REGION CODE ADDRESS : 3425 RANCHERO ROAD
01 CITY : PLANO
STATE/ZIP : TX 75093
MORTGAGE AMOUNT : 290,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,845.71 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,980.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 30.23900
----------------------------------------------------------------
0 0031745318 MORTGAGORS: MASKELL ROBERT
MASKELL KATHLEEN
REGION CODE ADDRESS : 42722 LUCKETTS ROAD
01 CITY : LEESBURG
STATE/ZIP : VA 20176
MORTGAGE AMOUNT : 448,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 447,332.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,132.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,532,000.00
P & I AMT: 10,594.39
UPB AMT: 1,530,068.04
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 233
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031745326 MORTGAGORS: MARTIN SCOTT
MARTIN THERESA
REGION CODE ADDRESS : 235 SEALE LANE
01 CITY : ALPHARETTA
STATE/ZIP : GA 30070
MORTGAGE AMOUNT : 348,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 348,477.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,379.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031745334 MORTGAGORS: SANFORD GREGORY
ANDERSON EUGENIE
REGION CODE ADDRESS : 6311 155TH ST SE
01 CITY : SNOHOMISH
STATE/ZIP : WA 98296
MORTGAGE AMOUNT : 267,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,551.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,873.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.98700
----------------------------------------------------------------
0 0031745342 MORTGAGORS: NANAVATI ASHWIN
NANAVATI KALPANA
REGION CODE ADDRESS : 10388 KINGSBRIDGE ROAD
01 CITY : COLUMBIA
STATE/ZIP : MD 21043
MORTGAGE AMOUNT : 612,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 611,522.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,174.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 62.76900
----------------------------------------------------------------
0 0031745359 MORTGAGORS: HODGES MILES
HODGES GRACE
REGION CODE ADDRESS : 75 KELLOGG MILL RD
01 CITY : FREDERICKSBURG
STATE/ZIP : VA 22406
MORTGAGE AMOUNT : 251,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,826.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,756.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031745367 MORTGAGORS: TOMARCHIO FREDRIC
TOMARCHIO MARCIA
REGION CODE ADDRESS : 13327 SPRINGWOOD COURT
01 CITY : ELLICOTT CITY
STATE/ZIP : MD 21042
MORTGAGE AMOUNT : 640,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 639,500.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,365.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 64.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,119,950.00
P & I AMT: 14,550.27
UPB AMT: 2,117,879.03
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 234
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031745375 MORTGAGORS: MCMILLAN MARALEE
REGION CODE ADDRESS : 2828 MILLWOOD DRIVE
01 CITY : FARMERS BRANCH
STATE/ZIP : TX 75234
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,794.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,800.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031745383 MORTGAGORS: DAVIS THEODORE
DAVIS ELIZABETH
REGION CODE ADDRESS : 137 PINEWOOD ROAD
01 CITY : VIRGINIA BEACH
STATE/ZIP : VA 23451
MORTGAGE AMOUNT : 336,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 336,248.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,354.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031745409 MORTGAGORS: HUDGINS JEFFRY
HUDGINS DENISE
REGION CODE ADDRESS : 8440 SWISS AIR ROAD
01 CITY : GAINESVILLE
STATE/ZIP : GA 30506
MORTGAGE AMOUNT : 385,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 384,707.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,659.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 74.03800
----------------------------------------------------------------
0 0031745417 MORTGAGORS: FRANCE HOWARD
FRANCE BONNIE
REGION CODE ADDRESS : 21786 TAHOE LANE
01 CITY : LAKE FOREST
STATE/ZIP : CA 92630
MORTGAGE AMOUNT : 446,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 445,250.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,120.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031745425 MORTGAGORS: MARTIN JAMES
MARTIN BERNADINE
REGION CODE ADDRESS : 21813 WATSON RD
01 CITY : LEESBURG
STATE/ZIP : VA 20175
MORTGAGE AMOUNT : 337,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 336,997.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,359.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 67.50000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,769,500.00
P & I AMT: 12,294.76
UPB AMT: 1,766,997.39
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 235
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031745433 MORTGAGORS: LEVENTHAL EDWARD
BAKER MARY-TERESA
REGION CODE ADDRESS : 12637 WATERSPOUT COURT
01 CITY : OWINGS MILLS
STATE/ZIP : MD 21117
MORTGAGE AMOUNT : 486,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 485,258.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,356.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031745441 MORTGAGORS: MURPHY DENNIS
MURPHY JULIE
REGION CODE ADDRESS : 8890 MC NAIR DRIVE
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22309
MORTGAGE AMOUNT : 230,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 229,310.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,608.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 71.87500
----------------------------------------------------------------
0 0031745458 MORTGAGORS: ENG MICHAEL
ENG VIVIAN
REGION CODE ADDRESS : 9541 NEWBRIDGE DRIVE
01 CITY : POTOMAC
STATE/ZIP : MD 20854
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,583.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,957.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 56.00000
----------------------------------------------------------------
0 0031745466 MORTGAGORS: RUSSEY JOHN
RUSSEY MASAYE
REGION CODE ADDRESS : 3108 GOSHEFF LANE
01 CITY : GAMBRILLS
STATE/ZIP : MD 21054
MORTGAGE AMOUNT : 290,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 290,167.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,031.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 71.75300
----------------------------------------------------------------
0 0031745508 MORTGAGORS: FORTIN EARL
FORTIN ROBERTA
REGION CODE ADDRESS : 1420 COUNTY ROAD 125
01 CITY : DURANGO
STATE/ZIP : CO 81301
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,817.38 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,657.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 64.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,526,600.00
P & I AMT: 10,612.22
UPB AMT: 1,524,136.67
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 236
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031745516 MORTGAGORS: FISCHER FRED
FISCHER CARYN
REGION CODE ADDRESS : 13636 VALLEY OAK CIRCLE
01 CITY : ROCKVILLE
STATE/ZIP : MD 20850
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,585.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,805.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.91400
----------------------------------------------------------------
0 0031745540 MORTGAGORS: DOMBALAGIAN MARKAR
DOMBALAGIAN HASMIK
REGION CODE ADDRESS : 12510 STONEY CREEK ROAD
01 CITY : POTOMAC
STATE/ZIP : MD 20854
MORTGAGE AMOUNT : 350,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,151.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,392.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 64.94400
----------------------------------------------------------------
0 0031745573 MORTGAGORS: SUSEL IRVING
GOLDBERG GAIL
REGION CODE ADDRESS : 7708 ZULIMA COURT
01 CITY : BETHESDA
STATE/ZIP : MD 20817
MORTGAGE AMOUNT : 301,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 301,039.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,082.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 67.00000
----------------------------------------------------------------
0 0031745581 MORTGAGORS: KOBAYASHI FORREST
KOBAYASHI NENA
REGION CODE ADDRESS : 8310 SIMSBURY PLACE
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22308
MORTGAGE AMOUNT : 405,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 404,381.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,797.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 76.41500
----------------------------------------------------------------
0 0031745656 MORTGAGORS: NIBLETT MICHAEL
SOCIE JAN
REGION CODE ADDRESS : 859 MARILYN DRIVE
01 CITY : CAMPBELL
STATE/ZIP : CA 95008
MORTGAGE AMOUNT : 363,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 362,206.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,569.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 78.06400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,688,200.00
P & I AMT: 11,646.88
UPB AMT: 1,685,365.15
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 237
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031745672 MORTGAGORS: SCHWARTZ EDWARD
MOREY KATHLEEN
REGION CODE ADDRESS : 91 WAGON WHEEL ROAD
01 CITY : MAMMOTH LAKES
STATE/ZIP : CA 93546
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,804.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,705.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.46300
----------------------------------------------------------------
0 0031745854 MORTGAGORS: BLATTENBERG DAVID
BLATTENBERG KATHY
REGION CODE ADDRESS : 30118 SONRISA LANE
01 CITY : LAGUNA NIGUEL
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 352,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 351,725.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,401.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031745896 MORTGAGORS: MACKEY R
REGION CODE ADDRESS : 1017 8TH STREET
01 CITY : HERMOSA BEACH
STATE/ZIP : CA 90254
MORTGAGE AMOUNT : 346,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 346,479.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,365.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031746118 MORTGAGORS: HERNANDEZ ROBERTO
HERNANDEZ DIANE
REGION CODE ADDRESS : 14642 PALM AVENUE
01 CITY : HACIENDA HEIGHT (AREA)
STATE/ZIP : CA 91745
MORTGAGE AMOUNT : 230,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 229,816.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,549.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 93.87700
----------------------------------------------------------------
0 0031746142 MORTGAGORS: HAWBAKER JAMES
HAWBAKER B
REGION CODE ADDRESS : 10152 MEREDITH DRIVE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92646
MORTGAGE AMOUNT : 311,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 310,763.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,148.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 77.75000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,489,750.00
P & I AMT: 10,169.70
UPB AMT: 1,488,589.32
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 238
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031746159 MORTGAGORS: MALKASIAN MICHAEL
MALKASIAN OLIVE
REGION CODE ADDRESS : 332 WHITING STREET
01 CITY : EL SEGUNDO
STATE/ZIP : CA 90245
MORTGAGE AMOUNT : 489,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 488,618.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,335.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.09000
----------------------------------------------------------------
0 0031746407 MORTGAGORS: BIRNBAUM THOMAS
ULRICH JULIE
REGION CODE ADDRESS : 1859 SILVANA LANE
01 CITY : SANTA CRUZ
STATE/ZIP : CA 95062
MORTGAGE AMOUNT : 249,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,800.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,677.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 77.81200
----------------------------------------------------------------
0 0031746597 MORTGAGORS: RAMIREZ LUIS
RAMIREZ MANUELA
REGION CODE ADDRESS : 994 ROSAL COURT
01 CITY : CHULA VISTA
STATE/ZIP : CA 91910
MORTGAGE AMOUNT : 268,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,832.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 94.98600
----------------------------------------------------------------
0 0031746944 MORTGAGORS: CAPLINGER CHARLES
PAVLOVICH SALLEE
REGION CODE ADDRESS : 2422 GRETTER PLACE
01 CITY : ALEXANDRIA
STATE/ZIP : VA 22311
MORTGAGE AMOUNT : 241,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,761.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,650.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.98611
----------------------------------------------------------------
0 0031747058 MORTGAGORS: FLEMING PAUL
ZHANG YING
REGION CODE ADDRESS : 6 MOHAWK ROAD
01 CITY : ANDOVER
STATE/ZIP : MA 01810
MORTGAGE AMOUNT : 239,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,017.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,652.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,487,750.00
P & I AMT: 10,148.36
UPB AMT: 1,486,798.65
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 239
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031747074 MORTGAGORS: SAMUEL ROBERT
REYNA CHERYL
REGION CODE ADDRESS : 3560 HEATHERWOOD
01 CITY : COMMERCE TOWNSHIP
STATE/ZIP : MI 48382
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,604.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,791.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 89.28500
----------------------------------------------------------------
0 0031747082 MORTGAGORS: HANK WILLIAM
HANK LINDA
REGION CODE ADDRESS : 70 WALNUT ST
01 CITY : READING
STATE/ZIP : MA 01867
MORTGAGE AMOUNT : 272,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,420.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,791.12 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031747173 MORTGAGORS: SULLIVAN LEAH
SAMHAT IMAD
REGION CODE ADDRESS : 26221 MOUNT DIABLO ROAD
01 CITY : LAGUNA HILLS
STATE/ZIP : CA 92653
MORTGAGE AMOUNT : 522,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 521,056.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,694.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 52.20000
----------------------------------------------------------------
0 0031747272 MORTGAGORS: KHAMMAR GARY
KHAMMAR NANCY
REGION CODE ADDRESS : 19310 CALADERO STREET
01 CITY : TARZANA
STATE/ZIP : CA 91356
MORTGAGE AMOUNT : 452,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 451,656.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,121.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031747280 MORTGAGORS: ZEMEL PAUL
ZEMEL NITZA
REGION CODE ADDRESS : 6010 WOODLAND VIEW DRIVE
01 CITY : WOODLAND HILLS
STATE/ZIP : CA 91367
MORTGAGE AMOUNT : 385,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 384,978.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,759.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 56.90500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,881,900.00
P & I AMT: 13,158.69
UPB AMT: 1,879,716.09
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 240
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031747314 MORTGAGORS: DELONG BEATTIE
DELONG SUSAN
REGION CODE ADDRESS : 22822 GLENHURST ROAD
01 CITY : BARRINGTON
STATE/ZIP : IL 60010
MORTGAGE AMOUNT : 328,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,963.59 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,298.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 52.67600
----------------------------------------------------------------
0 0031747330 MORTGAGORS: FINE LOUIS
FINE VICKI
REGION CODE ADDRESS : 1723 MCCRASEN ROAD
01 CITY : HIGHLAND PARK
STATE/ZIP : IL 60035
MORTGAGE AMOUNT : 245,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,950.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,716.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 76.71800
----------------------------------------------------------------
0 0031747348 MORTGAGORS: ELIASZEWSKYJ SUSAN
ELIASZEWSKYJ JURIJ
REGION CODE ADDRESS : 53 RIDGEWAY ESTATES
01 CITY : TOWN OF GREECE
STATE/ZIP : NY 14626
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,597.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,887.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031747496 MORTGAGORS: LI PING
AN QI
REGION CODE ADDRESS : 1255 COBBLESTONE DRIVE
01 CITY : CAMPLBELL
STATE/ZIP : CA 95008
MORTGAGE AMOUNT : 385,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 384,906.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,660.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031747561 MORTGAGORS: REYLING GEORGE
REYLING SANDRA
REGION CODE ADDRESS : 2116 TIGER LINKS DRIVE
01 CITY : HENDERSON
STATE/ZIP : NV 89012
MORTGAGE AMOUNT : 237,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,746.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,657.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.07300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,466,500.00
P & I AMT: 10,221.09
UPB AMT: 1,464,165.45
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 241
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031747595 MORTGAGORS: HUTCHINS WADE
HUTCHINS PATRICIA
REGION CODE ADDRESS : 7127 SE 35TH AVENUE
01 CITY : PORTLAND
STATE/ZIP : OR 97202
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,612.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,817.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031747611 MORTGAGORS: BAGNOLE MICHAEL
BAGNOLE GRACE
REGION CODE ADDRESS : 1N681 WENTWORTH COURT
01 CITY : WINFIELD
STATE/ZIP : IL 60190
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,651.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,698.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 69.96400
----------------------------------------------------------------
0 0031747686 MORTGAGORS: ARONSOHN ABBY
REGION CODE ADDRESS : 10207 EAST LAKE DRIVE
01 CITY : ENGLEWOOD
STATE/ZIP : CO 80111
MORTGAGE AMOUNT : 349,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 348,684.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,205.92 OUTSIDE CONV DATE :
LIFETIME RATE : 6.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.50000 PRODUCT CODE : 002
LTV : 73.24200
----------------------------------------------------------------
0 0031747967 MORTGAGORS: BUXTON JAMES
BUXTON MARSHA
REGION CODE ADDRESS : 25 SANDHILL ROAD
01 CITY : ORINDA
STATE/ZIP : CA 94563
MORTGAGE AMOUNT : 355,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 355,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,512.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 38.46100
----------------------------------------------------------------
0 0031748007 MORTGAGORS: LARKS GALE
LARKS CAROL
REGION CODE ADDRESS : 305 MONTECILLO DRIVE
01 CITY : WALNUT CREEK
STATE/ZIP : CA 94595
MORTGAGE AMOUNT : 249,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,677.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 38.30700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,453,000.00
P & I AMT: 9,912.82
UPB AMT: 1,451,948.02
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 242
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031748114 MORTGAGORS: DICKSON ROGER
REGION CODE ADDRESS : 700 TAMARISK LANE
01 CITY : PALM SPRINGS
STATE/ZIP : CA 92262
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,774.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,292.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.01200
----------------------------------------------------------------
0 0031748205 MORTGAGORS: SULLIVAN DAVID
DIBLASIO GARY
REGION CODE ADDRESS : 49 ROCKLAND STREET
01 CITY : SWAMPSCOTT
STATE/ZIP : MA 01907
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,995.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 70.75400
----------------------------------------------------------------
0 0031748510 MORTGAGORS: KOZA ROBERT
KOZA MARLA
REGION CODE ADDRESS : 236 EAST RANNEY AVENUE
01 CITY : VERNON HILLS
STATE/ZIP : IL 60061
MORTGAGE AMOUNT : 260,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,071.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,843.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.98700
----------------------------------------------------------------
0 0031748619 MORTGAGORS: TARGOSZ STANLEY
TARGOSZ MARY
REGION CODE ADDRESS : 6775 CARLYLE CROSSING
01 CITY : WEST BLOOMFIELD
STATE/ZIP : MI 48322
MORTGAGE AMOUNT : 373,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 372,734.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,677.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 62.82300
----------------------------------------------------------------
0 0031748627 MORTGAGORS: SMITH DEANN
REGION CODE ADDRESS : 2605 SYLVAN SHORES
01 CITY : WATERFORD
STATE/ZIP : MI 48328
MORTGAGE AMOUNT : 317,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 317,027.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,220.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.70500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,571,750.00
P & I AMT: 11,029.84
UPB AMT: 1,569,607.64
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 243
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031748650 MORTGAGORS: PISCIOTTA RAYMOND
PISCIOTTA GEORGIA
REGION CODE ADDRESS : 7380 N MOON SPIRIT LANE
01 CITY : TUCSON
STATE/ZIP : AZ 85718
MORTGAGE AMOUNT : 263,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,924.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,865.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 32.33100
----------------------------------------------------------------
0 0031748668 MORTGAGORS: TODOROW THOMAS
BARRY-TODOROW CARLYN
REGION CODE ADDRESS : 1130 LAWRENCE AVENUE
01 CITY : LAKE FOREST
STATE/ZIP : IL 60045
MORTGAGE AMOUNT : 640,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 640,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,365.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031749039 MORTGAGORS: BAKER ERIC
BAKER JILL
REGION CODE ADDRESS : 410 CALLE MACHO
01 CITY : SAN CLEMENTE
STATE/ZIP : CA 92673
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,791.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,038.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031749211 MORTGAGORS: MATTOX BENJAMIN
MATTOX ADELAINE
REGION CODE ADDRESS : 654 PARADISE VALLEY COURT SOUTH
01 CITY : DANVILLE
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 287,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,787.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,006.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0031749229 MORTGAGORS: CISLO DONALD
CISLO ENEDINA
REGION CODE ADDRESS : 156 PRINCE ROYAL DRIVE
01 CITY : CORTE MADERA
STATE/ZIP : CA 94925
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,780.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,852.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 62.85700
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,753,500.00
P & I AMT: 12,128.90
UPB AMT: 1,752,282.83
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 244
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031749237 MORTGAGORS: ZEE CAROL
REGION CODE ADDRESS : 1209 BAYVIEW DRIVE
01 CITY : MANHATTAM BEACH
STATE/ZIP : CA 90266
MORTGAGE AMOUNT : 339,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 338,748.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,370.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031749252 MORTGAGORS: TODD JENNIFER
REGION CODE ADDRESS : 8680 FRANKLIN AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90069
MORTGAGE AMOUNT : 462,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 462,056.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,233.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031749278 MORTGAGORS: SHINE JEFFREY
REGION CODE ADDRESS : 707 11TH STREET
01 CITY : SANTA MONICA
STATE/ZIP : CA 90402
MORTGAGE AMOUNT : 475,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 474,647.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,321.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 61.36900
----------------------------------------------------------------
0 0031749328 MORTGAGORS: BRONSON JOHN
BRONSON DEBRA
REGION CODE ADDRESS : 11904 ACACIA GLEN COURT
01 CITY : SAN DIEGO
STATE/ZIP : CA 92128
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,768.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,264.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031749344 MORTGAGORS: BACKLUND ANDREW
BACKLUND GRETA
REGION CODE ADDRESS : 22053 HIGHLAND STREET
01 CITY : WILDOMAR
STATE/ZIP : CA 92595
MORTGAGE AMOUNT : 278,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 278,398.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,971.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 84.42400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,875,000.00
P & I AMT: 13,161.64
UPB AMT: 1,873,619.46
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 245
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031749369 MORTGAGORS: GEARY JOHN
GEARY DIANE
REGION CODE ADDRESS : 11380 LAKE RIM ROAD
01 CITY : SAN DIEGO
STATE/ZIP : CA 92131
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,699.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.04800
----------------------------------------------------------------
0 0031749393 MORTGAGORS: GRADY THOMAS
GRADY DONNA
REGION CODE ADDRESS : 16 ELDERBERRY
01 CITY : IRVINE
STATE/ZIP : CA 92715
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,758.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,272.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 66.32600
----------------------------------------------------------------
0 0031749401 MORTGAGORS: HENDERSON WILLIAM
HENDERSON LUCINDA
REGION CODE ADDRESS : 23332 SUMMERGLEN PLACE
01 CITY : VALENCIA
STATE/ZIP : CA 91354
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,810.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,783.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 69.86300
----------------------------------------------------------------
0 0031749427 MORTGAGORS: LIAO FRANK
LIAO CATHY
REGION CODE ADDRESS : 21875 ALMADEN AVENUE
01 CITY : CUPERTINO
STATE/ZIP : CA 95014
MORTGAGE AMOUNT : 329,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 328,761.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,328.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 45.37900
----------------------------------------------------------------
0 0031749435 MORTGAGORS: PIPOLO ORLANDO
PIPOLO GORDANA
REGION CODE ADDRESS : 20 ROCKINGHORSE ROAD
01 CITY : RANCHO PALOS VERDES
STATE/ZIP : CA 90275
MORTGAGE AMOUNT : 425,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 424,684.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,971.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.17100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,654,000.00
P & I AMT: 11,593.26
UPB AMT: 1,652,715.61
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 246
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031749906 MORTGAGORS: CARLOS JOE
CARLOS SUZANNE
REGION CODE ADDRESS : 6102 DOUGLAS DRIVE
01 CITY : YAKIMA
STATE/ZIP : WA 98908
MORTGAGE AMOUNT : 333,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 333,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,187.57 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031750136 MORTGAGORS: MC BRIDE GREGORY
MC BRIDE MICHELLE
REGION CODE ADDRESS : 307 PLAYA BOULEVARD
01 CITY : LA SELVA BEACH
STATE/ZIP : CA 95076
MORTGAGE AMOUNT : 236,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,609.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031750383 MORTGAGORS: ACACIA JOHN
ACACIA KAREN
REGION CODE ADDRESS : 21 PARK AVENUE
01 CITY : RUMSON
STATE/ZIP : NJ 07760
MORTGAGE AMOUNT : 283,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,882.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 78.61100
----------------------------------------------------------------
0 0031750482 MORTGAGORS: CONDON JOHN
CONDON MAUREEN
REGION CODE ADDRESS : 1761 THISTLE WAY
01 CITY : MALVERN
STATE/ZIP : PA 19355
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,773.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 78.78700
----------------------------------------------------------------
0 0031750870 MORTGAGORS: WESTGAARD KIRSTEN
REGION CODE ADDRESS : 3981 PASADENA DRIVE
01 CITY : SAN MATED
STATE/ZIP : CA 94403
MORTGAGE AMOUNT : 256,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,594.64 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,730.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,368,800.00
P & I AMT: 9,184.09
UPB AMT: 1,368,594.64
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 247
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031750896 MORTGAGORS: NEALE AUDREY
REGION CODE ADDRESS : 548 SHOREBIRD CIRCLE #3204
01 CITY : REDWOOD CITY
STATE/ZIP : CA 94065
MORTGAGE AMOUNT : 274,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,791.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,892.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.06600
----------------------------------------------------------------
0 0031750904 MORTGAGORS: DELPHIN JOHN
DELPHIN NEHA
REGION CODE ADDRESS : 18906 VANTAGE VIEW LANE
01 CITY : HUMBLE
STATE/ZIP : TX 77346
MORTGAGE AMOUNT : 249,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,664.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,746.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031750938 MORTGAGORS: PITT JACQUELINE
REGION CODE ADDRESS : 11201 SEGRELL WAY
01 CITY : CULVER CITY
STATE/ZIP : CA 90230
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,795.01 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,602.91 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 73.93900
----------------------------------------------------------------
0 0031750946 MORTGAGORS: DUNLEA SHAWN
PISCOP LUCILLE
REGION CODE ADDRESS : 3252 GERONIMO AVENUE
01 CITY : SAN DIEGO
STATE/ZIP : CA 92117
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,771.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,072.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 65.93400
----------------------------------------------------------------
0 0031750987 MORTGAGORS: OLIVER LESLIE
GONZALEZ DINO
REGION CODE ADDRESS : 1377 CALLE PECOS
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91360
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,799.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,630.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 67.12300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,312,850.00
P & I AMT: 8,944.38
UPB AMT: 1,311,821.98
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 248
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031751027 MORTGAGORS: BEAVERS DOUGLAS
BEAVERS ANNA
REGION CODE ADDRESS : 8 WEISS COURT
01 CITY : ALAMEDA
STATE/ZIP : CA 94501
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,808.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,671.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.98000
----------------------------------------------------------------
0 0031751035 MORTGAGORS: PETRACEK CHRISTOPHER
PETRACEK MARIE
REGION CODE ADDRESS : 41 LEDGEWOOD DRIVE
01 CITY : LAS FLORES
STATE/ZIP : CA 92688
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 379,688.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,528.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031751118 MORTGAGORS: WONG LAWRENCE
LAUBHAN-WONG KAREN
REGION CODE ADDRESS : 6 WEISS COURT
01 CITY : ALAMEDA
STATE/ZIP : CA 94501
MORTGAGE AMOUNT : 281,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,324.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,896.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.98500
----------------------------------------------------------------
0 0031751159 MORTGAGORS: TANNER ALEC
REGION CODE ADDRESS : 303 WEST PORTLAND STREET
01 CITY : PHOENIX
STATE/ZIP : AZ 85003
MORTGAGE AMOUNT : 242,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,070.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,693.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031751167 MORTGAGORS: BERNARDO JON
BERNARDO SHARON
REGION CODE ADDRESS : 3362 FREEMAN ROAD
01 CITY : WALNUT CREEK
STATE/ZIP : CA 94595
MORTGAGE AMOUNT : 332,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 331,734.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,236.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,480,800.00
P & I AMT: 10,026.95
UPB AMT: 1,479,626.94
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 249
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031751290 MORTGAGORS: SACCIO JOSEPH
SACCIO CARI
REGION CODE ADDRESS : 27102 WOODBROOK ROAD
01 CITY : RANCHO PALOS VERDES
STATE/ZIP : CA 90275
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,726.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,387.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.54500
----------------------------------------------------------------
0 0031751332 MORTGAGORS: MIRELES ARTHUR
MIRELES LENORE
REGION CODE ADDRESS : 2912 ANGLER LANE
01 CITY : LOS ALAMITOS
STATE/ZIP : CA 90720
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,788.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,655.47 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 77.53800
----------------------------------------------------------------
0 0031751381 MORTGAGORS: RULON MARK
RULON ELIZABETH
REGION CODE ADDRESS : 97 WILDLIFE DRIVE
01 CITY : SIMI VALLEY
STATE/ZIP : CA 93065
MORTGAGE AMOUNT : 369,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 369,304.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,490.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031751399 MORTGAGORS: GALLIEN RICHARD
GALLIEN LISA
REGION CODE ADDRESS : 472 29TH ST
01 CITY : MANHATTAN BEACH
STATE/ZIP : CA 90266
MORTGAGE AMOUNT : 318,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 318,238.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,118.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 66.35400
----------------------------------------------------------------
0 0031751464 MORTGAGORS: CHAUDHARY SUDHIR
CHAUDHARY ANILA
REGION CODE ADDRESS : 3507 FOXRIDGE COURT
01 CITY : NAPA
STATE/ZIP : CA 94558
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,726.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,486.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.26000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,650,100.00
P & I AMT: 11,138.58
UPB AMT: 1,648,784.67
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 250
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031751498 MORTGAGORS: MATSUNO KENT
MATSUNO LESLIE
REGION CODE ADDRESS : 2028 ALIHILANI PLACE
01 CITY : HONOLULU
STATE/ZIP : HI 96822
MORTGAGE AMOUNT : 460,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 456,691.25 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,138.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031751514 MORTGAGORS: STITH RANDALL
STITH MICHELLE
REGION CODE ADDRESS : 2304 VESTAL AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90026
MORTGAGE AMOUNT : 392,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 391,709.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,740.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 87.11100
----------------------------------------------------------------
0 0031751522 MORTGAGORS: SPRATT JAMES
SPRATT DARLENE
REGION CODE ADDRESS : 19558 BRAEWOOD DRIVE
01 CITY : TARZANA
STATE/ZIP : CA 91356
MORTGAGE AMOUNT : 410,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 409,672.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,762.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 77.06700
----------------------------------------------------------------
0 0031751530 MORTGAGORS: DAN DORIT
REGION CODE ADDRESS : 1767 SOUTH WOOSTER STREET
01 CITY : LOS ANGELES
STATE/ZIP : CA 90035
MORTGAGE AMOUNT : 272,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,062.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,835.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 77.85700
----------------------------------------------------------------
0 0031751555 MORTGAGORS: BARBOSA PONCIANO
BARBOSA MARTHA
REGION CODE ADDRESS : 1169 WOODROW STREET
01 CITY : REDWOOD CITY
STATE/ZIP : CA 94061
MORTGAGE AMOUNT : 294,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 294,061.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,059.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,829,000.00
P & I AMT: 12,536.25
UPB AMT: 1,824,196.85
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 251
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031751563 MORTGAGORS: LACKNER TODD
REGION CODE ADDRESS : 13307 PACER LANE
01 CITY : POWAY
STATE/ZIP : CA 92064
MORTGAGE AMOUNT : 267,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,193.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,824.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 62.94100
----------------------------------------------------------------
0 0031751589 MORTGAGORS: YOSHIDA VICTOR
YOSHIDA JUNE
REGION CODE ADDRESS : 3 WATERSIDE CIRCLE
01 CITY : REDWOOD CITY
STATE/ZIP : CA 94065
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,805.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,970.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 47.74300
----------------------------------------------------------------
0 0031751720 MORTGAGORS: TUCKER NORMAN
REGION CODE ADDRESS : 79200 COYOTE CREEK
01 CITY : LA QUINTA
STATE/ZIP : CA 92253
MORTGAGE AMOUNT : 393,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 393,087.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,652.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031751738 MORTGAGORS: THOMSON MARK
THOMSON YVONNE
REGION CODE ADDRESS : 1489 CHERRY GARDEN LANE
01 CITY : SAN JOSE
STATE/ZIP : CA 95125
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,771.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,786.85 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 55.51000
----------------------------------------------------------------
0 0031751746 MORTGAGORS: WONG WESLEY
GEE ANNA
REGION CODE ADDRESS : 4958 BLACKHORSE ROAD
01 CITY : RANCHO PALOS VERDES
STATE/ZIP : CA 90275
MORTGAGE AMOUNT : 355,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 354,701.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,332.10 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 63.96300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,563,250.00
P & I AMT: 10,566.68
UPB AMT: 1,560,560.52
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 252
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031751753 MORTGAGORS: WORD JOHN
WORD PATRICIA
REGION CODE ADDRESS : 3325 LOS OLIVOS LANE
01 CITY : GLENDALE
STATE/ZIP : CA 91214
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,764.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,839.41 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031751761 MORTGAGORS: TAJ ALI
REGION CODE ADDRESS : 17138 MAPES AVENUE
01 CITY : CERRITOS
STATE/ZIP : CA 90703
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,775.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,964.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031751795 MORTGAGORS: VOLKEL WILLIAM
REEDY-VOLKEL SUSAN
REGION CODE ADDRESS : 612 GOLDENWEST STREET
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92648
MORTGAGE AMOUNT : 352,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 351,718.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,371.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031751803 MORTGAGORS: MOSHE YAIR
MOSHE NAVA
REGION CODE ADDRESS : 135 SOUTH ALTA VISTA BOULEVARD
01 CITY : LOS ANGELES
STATE/ZIP : CA 90036
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,733.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,417.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 69.30600
----------------------------------------------------------------
0 0031751837 MORTGAGORS: SCHUBERT JOHN
REGION CODE ADDRESS : 24501 VIA MAR MONTE #68
01 CITY : CARMEL
STATE/ZIP : CA 93923
MORTGAGE AMOUNT : 262,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 262,000.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,810.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,532,200.00
P & I AMT: 10,403.90
UPB AMT: 1,530,992.75
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 253
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031751886 MORTGAGORS: MEYERHOFF JAMES
MEYERHOFF JUDITH
REGION CODE ADDRESS : 26428 ATHENA AVENUE
01 CITY : HARBOR CITY
STATE/ZIP : CA 90710
MORTGAGE AMOUNT : 235,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,316.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,606.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 88.86700
----------------------------------------------------------------
0 0031752140 MORTGAGORS: JAROSZ JOSEPH
JAROSZ BERNADETTE
REGION CODE ADDRESS : 9621 CAMDEN HILLS AVENUE
01 CITY : LAS VEGAS
STATE/ZIP : NV 89128
MORTGAGE AMOUNT : 321,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 321,099.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,192.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99800
----------------------------------------------------------------
0 0031752504 MORTGAGORS: KRASNANSKY MARVIN
KRASNANSKY JOHANNE
REGION CODE ADDRESS : 61 CRAGMONT AVENUE
01 CITY : SAN FRANCISCO
STATE/ZIP : CA 94116
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,610.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,761.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 63.90900
----------------------------------------------------------------
0 0031752512 MORTGAGORS: ARANDA JOSE
ARANDA CONNIE
REGION CODE ADDRESS : 5889 SHADOW RIDGE DRIVE
01 CITY : CASTRO VALLEY
STATE/ZIP : CA 94552
MORTGAGE AMOUNT : 243,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,610.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,637.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 68.45000
----------------------------------------------------------------
0 0031752520 MORTGAGORS: JEFFRIES JAMES
JEFFRIES MARCI
REGION CODE ADDRESS : 1299 RIESLING TERRACE
01 CITY : SUNNYVALE
STATE/ZIP : CA 94087
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,564.36 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,123.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 94.33900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,354,850.00
P & I AMT: 9,320.45
UPB AMT: 1,353,200.89
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 254
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031752538 MORTGAGORS: LAZATIN ROBERT
LAZATIN DEE ANN
REGION CODE ADDRESS : 10 TALEGA
01 CITY : RANCHO SANTA MARGARITA
STATE/ZIP : CA 92688
MORTGAGE AMOUNT : 318,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 317,739.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,115.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 74.82300
----------------------------------------------------------------
0 0031752561 MORTGAGORS: ABBATE JAMES
ABBATE SABRA
REGION CODE ADDRESS : 5815 RIMROCK COURT
01 CITY : MERCED
STATE/ZIP : CA 95340
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,772.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,920.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031752579 MORTGAGORS: ARRIAS FRED
REGION CODE ADDRESS : 2621 VIA CASCADITA
01 CITY : SAN CLEMENTE
STATE/ZIP : CA 92672
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,800.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,684.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.75700
----------------------------------------------------------------
0 0031752587 MORTGAGORS: FARRADJ FUAD
REGION CODE ADDRESS : 83 STOWBRIDGE COURT
01 CITY : DANVILLE
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 311,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,001.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,096.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031752595 MORTGAGORS: D'AQUISTO JACK
D'AQUISTO ANTOINETTE
REGION CODE ADDRESS : 4115 FEDERMAN LANE
01 CITY : SAN DIEGO
STATE/ZIP : CA 92130
MORTGAGE AMOUNT : 287,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,781.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,982.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.63000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,451,250.00
P & I AMT: 9,799.26
UPB AMT: 1,450,094.22
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 255
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031752603 MORTGAGORS: MAREK EDWARD
MAREK RUTH
REGION CODE ADDRESS : 1608 BRENTFORD AVENUE
01 CITY : WESTLAKE VILLAGE
STATE/ZIP : CA 91361
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,740.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,189.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 67.01000
----------------------------------------------------------------
0 0031752629 MORTGAGORS: DENTON BILL
DENTON JULIE
REGION CODE ADDRESS : 1052 LAFAYETTE STREET
01 CITY : SAN MATEO
STATE/ZIP : CA 94403
MORTGAGE AMOUNT : 249,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,800.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,677.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 66.93500
----------------------------------------------------------------
0 0031752637 MORTGAGORS: GARIEPY DAVID
GARIEPY LUCINDA
REGION CODE ADDRESS : 1114 S GENEVIEVE LANE
01 CITY : SAN JOSE
STATE/ZIP : CA 95128
MORTGAGE AMOUNT : 312,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 312,243.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,079.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 65.78900
----------------------------------------------------------------
0 0031753056 MORTGAGORS: VAN BEAVER JEFFERY
VAN BEAVER TAMMY
REGION CODE ADDRESS : 1796 CHRISTIE COURT
01 CITY : DE PERE
STATE/ZIP : WI 54115
MORTGAGE AMOUNT : 298,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,784.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,109.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 73.94500
----------------------------------------------------------------
0 0031753064 MORTGAGORS: WINN KENNETH
REGION CODE ADDRESS : 9220 ATLANTIC AVE UNIT 203
01 CITY : MARGATE
STATE/ZIP : NJ 08402
MORTGAGE AMOUNT : 261,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,025.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,694.46 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,445,750.00
P & I AMT: 9,749.92
UPB AMT: 1,444,594.20
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 256
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031753122 MORTGAGORS: MACKEY MARK
MACKEY DENISE
REGION CODE ADDRESS : 4158 SOUTHMOOR
01 CITY : WEST BLOOMFIELD
STATE/ZIP : MI 48323
MORTGAGE AMOUNT : 346,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 346,009.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,482.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031753130 MORTGAGORS: BURGIN GREGORY
BURGIN SUSAN
REGION CODE ADDRESS : 14650 BRENDA DRIVE
01 CITY : PRESCOTT
STATE/ZIP : AZ 86301
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,627.16 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,957.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 72.00000
----------------------------------------------------------------
0 0031753197 MORTGAGORS: GRIFFIN TERRENCE
GRIFFIN DEANNA
REGION CODE ADDRESS : 125 COLONY DRIVE
01 CITY : BARRINGTON
STATE/ZIP : IL 60010
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,478.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,447.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.29900
----------------------------------------------------------------
0 0031753239 MORTGAGORS: SMITH STEPHEN
SMITH SHARON
REGION CODE ADDRESS : 4708 MATHER DR
01 CITY : NAPERVILLE
STATE/ZIP : IL 60565
MORTGAGE AMOUNT : 244,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,636.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,706.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031753296 MORTGAGORS: MAYBERRY ROBERT
REGION CODE ADDRESS : 2105 MAYKIRK ROAD
01 CITY : SAN JOSE
STATE/ZIP : CA 95124
MORTGAGE AMOUNT : 562,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 562,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,837.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,773,000.00
P & I AMT: 12,430.64
UPB AMT: 1,771,252.03
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 257
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031753577 MORTGAGORS: WALSH OWEN
WALSH GWENN
REGION CODE ADDRESS : 85 LA COSTA COURT
01 CITY : NOVATO
STATE/ZIP : CA 94947
MORTGAGE AMOUNT : 307,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 306,754.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,068.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.87800
----------------------------------------------------------------
0 0031753593 MORTGAGORS: JONES KEITH
REGION CODE ADDRESS : 1817 EAST BAY TREE CIRCLE
01 CITY : GILBERT
STATE/ZIP : AZ 85234
MORTGAGE AMOUNT : 258,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,817.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,848.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 72.67600
----------------------------------------------------------------
0 0031753627 MORTGAGORS: PASCENTE SUSAN
REGION CODE ADDRESS : 4375 EAST SUPERSTITION BOULEVARD
01 CITY : APACHE JUNCTION
STATE/ZIP : AZ 85219
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,327.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,097.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 61.22400
----------------------------------------------------------------
0 0031753684 MORTGAGORS: ALEXANDER DAVID
ALEXANDER MARILYN
REGION CODE ADDRESS : 2838 FORBES AVENUE
01 CITY : SANTA CLARA
STATE/ZIP : CA 95051
MORTGAGE AMOUNT : 388,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 387,712.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,712.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 77.60000
----------------------------------------------------------------
0 0031753783 MORTGAGORS: ROSE HOWARD
ROSE KELLY
REGION CODE ADDRESS : 12275 ADINE COURT
01 CITY : GLEN ELLEN
STATE/ZIP : CA 95442
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,771.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,072.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,553,000.00
P & I AMT: 10,799.28
UPB AMT: 1,551,384.07
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 258
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031753809 MORTGAGORS: ARANDA PATRICK
MALOOF-ARANDA HELEN
REGION CODE ADDRESS : #5 JORNADA WAY
01 CITY : SANTA FE
STATE/ZIP : NM 87505
MORTGAGE AMOUNT : 307,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 306,554.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,172.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 77.72151
----------------------------------------------------------------
0 0031754070 MORTGAGORS: TUGAOEN JUSTIN
TUGAOEN JANICE
REGION CODE ADDRESS : 5447 TURNBERRY DRIVE
01 CITY : WESTERVILLE
STATE/ZIP : OH 43082
MORTGAGE AMOUNT : 310,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 310,650.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,145.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031754575 MORTGAGORS: HERRINGTON ALAN
SHADDOCK SUSAN
REGION CODE ADDRESS : 12831 MILBANK STREET
01 CITY : LOS ANGELES (STUDIO CITY
STATE/ZIP : CA 91604
MORTGAGE AMOUNT : 388,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 387,436.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,746.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031754591 MORTGAGORS: STRIEGEL WILLIAM
STRIEGEL CATHY
REGION CODE ADDRESS : 16431 SOUTHEAST 31ST STREET
01 CITY : BELLEVUE
STATE/ZIP : WA 98008
MORTGAGE AMOUNT : 243,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,573.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,725.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031754625 MORTGAGORS: ROSENTHAL PAUL
DENNEN SHEILA
REGION CODE ADDRESS : 4944 AUCKLAND AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 91601
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,504.54 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,596.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,489,400.00
P & I AMT: 10,386.73
UPB AMT: 1,487,718.88
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 259
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031754658 MORTGAGORS: GRECO CHRISTOPHER
GRECO MARGARET
REGION CODE ADDRESS : 8745 RUNNING SPRINGS DRIVE
01 CITY : ANAHEIM
STATE/ZIP : CA 92808
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,461.69 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,840.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 78.07800
----------------------------------------------------------------
0 0031754799 MORTGAGORS: BROOKS ARTHUR
BROOKS CYNTHIA
REGION CODE ADDRESS : 1343 OTTER CREEK RD
01 CITY : NASHVILLE
STATE/ZIP : TN 37215
MORTGAGE AMOUNT : 277,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,265.43 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,894.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 53.40300
----------------------------------------------------------------
0 0031754823 MORTGAGORS: DEWESE DOUGLAS
DEWESE LOIS
REGION CODE ADDRESS : 218 CRYSTAL AVE
01 CITY : BECKLEY
STATE/ZIP : WV 25801
MORTGAGE AMOUNT : 245,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,616.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,671.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 87.81300
----------------------------------------------------------------
0 0031754872 MORTGAGORS: SCHMIDT LAURA
REGION CODE ADDRESS : 7315 NW NEVADA AVE
01 CITY : PARKVILLE
STATE/ZIP : MO 64152
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,821.89 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,678.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 86.33000
----------------------------------------------------------------
0 0031754997 MORTGAGORS: ROBINSON JOSEPH
ROBINSON RAPHAELA
REGION CODE ADDRESS : 25 DARTMOUTH ROAD
01 CITY : MANHASSET
STATE/ZIP : NY 11030
MORTGAGE AMOUNT : 284,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,533.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,889.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 54.61500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,306,700.00
P & I AMT: 8,973.56
UPB AMT: 1,304,698.67
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 260
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031755044 MORTGAGORS: RYAN JOHN
REGION CODE ADDRESS : 222 54TH STREET
01 CITY : VIRGINIA BEACH
STATE/ZIP : VA 23451
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,478.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,213.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/18
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031755077 MORTGAGORS: BIFANO CARYN
YUAN ANDREW
REGION CODE ADDRESS : 6282 CARSON PASS WAY
01 CITY : LIVERMORE
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 238,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,281.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,708.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 79.99100
----------------------------------------------------------------
0 0031755093 MORTGAGORS: BASUEL JESSE
BASUEL MARVILYN
REGION CODE ADDRESS : 32736 BELAMI LOOP
01 CITY : UNION CITY
STATE/ZIP : CA 94587
MORTGAGE AMOUNT : 280,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,225.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,889.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.98100
----------------------------------------------------------------
0 0031755176 MORTGAGORS: GERDES JAMES
GERDES NICKI
REGION CODE ADDRESS : 23026 DANA CT.
01 CITY : TORRANCE
STATE/ZIP : CA 90501
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,780.32 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,069.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031755200 MORTGAGORS: QUINLAN WALTER
QUINLAN CYNTHIA
REGION CODE ADDRESS : 21392 COUNTRYSIDE DRIVE
01 CITY : LAKE FOREST, CALIFORNIA
STATE/ZIP : CA 92630
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,506.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,995.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 73.18800
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,394,900.00
P & I AMT: 9,876.38
UPB AMT: 1,393,273.11
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 261
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031755275 MORTGAGORS: SAHAGIAN BRIAN
SAHAGIAN FELICIA
REGION CODE ADDRESS : 2237 VALLE DRIVE
01 CITY : LA HABRA HEIGHTS
STATE/ZIP : CA 90631
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,719.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,455.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 54.96100
----------------------------------------------------------------
0 0031755309 MORTGAGORS: WAGNER MARK
WAGNER SHERRI
REGION CODE ADDRESS : 1541 PHYOLLA ROAD
01 CITY : ELY
STATE/ZIP : MN 55371
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,797.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,773.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031755325 MORTGAGORS: REAGAN PATRICK
REAGAN PATRICIA
REGION CODE ADDRESS : 1172 VALLEY VUE POINT
01 CITY : ST ALBANS
STATE/ZIP : MO 63073
MORTGAGE AMOUNT : 314,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,360.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,172.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.25500
----------------------------------------------------------------
0 0031755341 MORTGAGORS: FLARIS HARRY
FLARIS MICHELE
REGION CODE ADDRESS : 10642 HOLLOW TREE ROAD
01 CITY : ORLAND PARK
STATE/ZIP : IL 60462
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,798.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,901.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031755382 MORTGAGORS: LEHMBERG GREGG
LEHMBERG JEAN
REGION CODE ADDRESS : 528 WEST GROVE STREET
01 CITY : WESTFIELD
STATE/ZIP : NJ 07090
MORTGAGE AMOUNT : 290,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 289,784.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,027.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,496,600.00
P & I AMT: 10,331.95
UPB AMT: 1,495,459.86
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 262
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031755416 MORTGAGORS: WEBSTER JOSEPH
REGION CODE ADDRESS : 3845 CRANBROOK HILL STREET
01 CITY : LAS VEGAS
STATE/ZIP : NV 89129
MORTGAGE AMOUNT : 296,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,679.66 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,075.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 94.98700
----------------------------------------------------------------
0 0031755424 MORTGAGORS: COMBS JOHN
COMBS KELLEY
REGION CODE ADDRESS : 9379 HARTFORD OAKS DR
01 CITY : MECHANICSVILLE
STATE/ZIP : VA 23111
MORTGAGE AMOUNT : 311,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,012.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,124.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 81.97300
----------------------------------------------------------------
0 0031755473 MORTGAGORS: WADDELL W
WADDELL STACEY
REGION CODE ADDRESS : 5804 MARCROSS COURT
01 CITY : GLEN ALLEN
STATE/ZIP : VA 23060
MORTGAGE AMOUNT : 274,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,291.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,895.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031755515 MORTGAGORS: KLEIN ISRAEL
KLEIN ELLEN
REGION CODE ADDRESS : 12 THE DRIVE
01 CITY : SEA CLIFF
STATE/ZIP : NY 11579
MORTGAGE AMOUNT : 292,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,293.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,095.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 87.31300
----------------------------------------------------------------
0 0031755549 MORTGAGORS: WRIGHT GARY
WRIGHT JANET
REGION CODE ADDRESS : 3311 SANG ROAD
01 CITY : GLENWOOD
STATE/ZIP : MD 21738
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,784.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,819.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 73.28900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,445,400.00
P & I AMT: 10,011.42
UPB AMT: 1,444,060.94
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 263
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031755663 MORTGAGORS: GARCIA ROBERT
GARCIA PRISCIALLA
REGION CODE ADDRESS : 901 NORTH CORDOVA STREET
01 CITY : ALHAMBRA
STATE/ZIP : CA 91801
MORTGAGE AMOUNT : 247,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 246,802.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,664.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.93500
----------------------------------------------------------------
0 0031755697 MORTGAGORS: EVANOVICH ROBERT
EVANOVICH LISA MARIE
REGION CODE ADDRESS : 12075 LITTLE SILVER COURT
01 CITY : SAN DIEGO
STATE/ZIP : CA 92131
MORTGAGE AMOUNT : 311,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,650.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,101.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99400
----------------------------------------------------------------
0 0031755747 MORTGAGORS: GIDEON NORMAN
GIDEON CHRISTINE
REGION CODE ADDRESS : 27721 HOMESTEAD ROAD
01 CITY : LAGUNA NIGUEL
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 328,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,209.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.97717
----------------------------------------------------------------
0 0031755960 MORTGAGORS: KENNEDY ARTHUR
KENNEDY LINDA
REGION CODE ADDRESS : 157 IVY DRIVE
01 CITY : ORINDA
STATE/ZIP : CA 94563
MORTGAGE AMOUNT : 292,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,020.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 76.97300
----------------------------------------------------------------
0 0031756182 MORTGAGORS: THORNWALL JOAN
REGION CODE ADDRESS : 181 ADA AVENUE #1
01 CITY : MOUNTAIN VIEW
STATE/ZIP : CA 94043
MORTGAGE AMOUNT : 309,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,164.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,489,000.00
P & I AMT: 10,160.20
UPB AMT: 1,488,553.06
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 264
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031757065 MORTGAGORS: BRADSHAW WILLIAM
BRADSHAW CYNTHIA
REGION CODE ADDRESS : 7830 CANYON LAKE CIRCLE
01 CITY : ORLANDO
STATE/ZIP : FL 32835
MORTGAGE AMOUNT : 268,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,820.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,921.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031758212 MORTGAGORS: MCCLUSKEY SCOTT
MCCLUSKEY KIMBERLY
REGION CODE ADDRESS : 6303 DRILL FEILD COURT
01 CITY : CENTREVILLE
STATE/ZIP : VA 20121
MORTGAGE AMOUNT : 263,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,066.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,753.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 94.14000
----------------------------------------------------------------
0 0031758253 MORTGAGORS: PIERCE STEWART
PIERCE MARIE
REGION CODE ADDRESS : 114 OVERVIEW LANE
01 CITY : CARY
STATE/ZIP : NC 27511
MORTGAGE AMOUNT : 280,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,360.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,915.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031758303 MORTGAGORS: ANDERS ANTHONY
ANDERS JAUNITA
REGION CODE ADDRESS : 7004 LOCH EDIN COURT
01 CITY : POTOMAC
STATE/ZIP : MD 28054
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,663.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,627.72 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 56.33800
----------------------------------------------------------------
0 0031758352 MORTGAGORS: TURNER DANIEL
TURNER SALONIE
REGION CODE ADDRESS : 10010 MANOR PLACE
01 CITY : FAIRFAX
STATE/ZIP : VA 22032
MORTGAGE AMOUNT : 321,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 321,561.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,250.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 77.72900
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,534,300.00
P & I AMT: 10,467.86
UPB AMT: 1,532,472.61
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 265
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031758972 MORTGAGORS: FEINGOLD RODD
REGION CODE ADDRESS : 6010 CALVIN AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 91356
MORTGAGE AMOUNT : 266,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,817.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031760291 MORTGAGORS: BERTHEAUME DAVID
BERTHEAUME JANA
REGION CODE ADDRESS : 17701 80 CT N,
01 CITY : MAPLE GROVE
STATE/ZIP : MN 55311
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,765.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,046.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 93.48700
----------------------------------------------------------------
0 0031760366 MORTGAGORS: FINCK DALE
REGION CODE ADDRESS : 21 EAST HARMONT DRIVE
01 CITY : PHOENIX
STATE/ZIP : AZ 85020
MORTGAGE AMOUNT : 300,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,365.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,050.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031760507 MORTGAGORS: LETSCHE DAVID
LETSCHE JILL
REGION CODE ADDRESS : 3963 KENTWOOD LN
01 CITY : WOODBURY
STATE/ZIP : MN 55125
MORTGAGE AMOUNT : 292,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 291,772.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,991.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031760531 MORTGAGORS: BICKERT MARK
BICKERT LISA
REGION CODE ADDRESS : 167 APPLEGATE DRIVE
01 CITY : WEST CHESTER
STATE/ZIP : PA 19382
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,788.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,778.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,423,000.00
P & I AMT: 9,685.05
UPB AMT: 1,422,092.57
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 266
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031760549 MORTGAGORS: PENDRAK MICHAEL
PENDRAK KATHLEEN
REGION CODE ADDRESS : 3316 90 AVE E
01 CITY : EDGEWOOD
STATE/ZIP : WA 98371
MORTGAGE AMOUNT : 237,450.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,264.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,619.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 94.99900
----------------------------------------------------------------
0 0031760556 MORTGAGORS: SYVERSON WAYNE
SYVERSON PATRICIA
REGION CODE ADDRESS : 601 ALEXANDRIA DRIVE
01 CITY : NAPERVILLE
STATE/ZIP : IL 60565
MORTGAGE AMOUNT : 259,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,702.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,795.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.77200
----------------------------------------------------------------
0 0031760564 MORTGAGORS: KNOTT GORDON
LARSON-KNOTT JACQUELINE
REGION CODE ADDRESS : 1275 JOSEPHINE RD
01 CITY : ROSEVILLE
STATE/ZIP : MN 55113
MORTGAGE AMOUNT : 293,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 293,171.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,001.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031760606 MORTGAGORS: WORRELL JOHN
WORRELL JOYCE
REGION CODE ADDRESS : 6420 N.W. MONTICELLO DRIVE
01 CITY : KANSAS CITY
STATE/ZIP : MO 64152
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 249,804.98 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,705.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 72.46300
----------------------------------------------------------------
0 0031760663 MORTGAGORS: GOLDBERG STANLEY
GOLDBERG REBECCA
REGION CODE ADDRESS : 100 CHESTER PLACE
01 CITY : ENGLEWOOD
STATE/ZIP : NJ 07631
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,795.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,922.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.32400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,315,750.00
P & I AMT: 9,044.69
UPB AMT: 1,314,739.00
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 267
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031760705 MORTGAGORS: WADE GARY
TALLEY DEBRA
REGION CODE ADDRESS : 1940 NORMANDSTONE DRIVE
01 CITY : MIDLOTHIAN
STATE/ZIP : VA 23113
MORTGAGE AMOUNT : 246,050.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,832.91 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,575.49 OUTSIDE CONV DATE :
LIFETIME RATE : 6.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.62500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031760762 MORTGAGORS: NICKERSON DON
REGION CODE ADDRESS : 3416 SW ROSE AVE
01 CITY : DES MOINES
STATE/ZIP : IA 50321
MORTGAGE AMOUNT : 261,155.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,961.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,826.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031760788 MORTGAGORS: REID JEFFREY
REID MARYLEE
REGION CODE ADDRESS : 2740 FAIRHAUSER ROAD
01 CITY : NAPERVILLE
STATE/ZIP : IL 60564
MORTGAGE AMOUNT : 269,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,790.15 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,835.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 94.88900
----------------------------------------------------------------
0 0031761000 MORTGAGORS: JOHNSON MARK
JOHNSON SUSAN
REGION CODE ADDRESS : 10837 SE HAPPY VALLEY DRIVE
01 CITY : PORTLAND
STATE/ZIP : OR 97236
MORTGAGE AMOUNT : 235,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,812.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,583.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 82.60100
----------------------------------------------------------------
0 0031761356 MORTGAGORS: FIELD IRVIN
REGION CODE ADDRESS : 52 NORMANDY DRIVE
01 CITY : WESTFIELD
STATE/ZIP : NJ 07090
MORTGAGE AMOUNT : 314,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,100.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,196.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,325,305.00
P & I AMT: 9,016.07
UPB AMT: 1,324,496.31
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 268
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031761505 MORTGAGORS: JACKSON PAUL
COOPER-JACKSON KIMBERLY
REGION CODE ADDRESS : 532 NORTH FOREST AVENUE
01 CITY : RIVER FOREST
STATE/ZIP : IL 60305
MORTGAGE AMOUNT : 261,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,824.95 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031761679 MORTGAGORS: WHATLEY DOUGLAS
WHATLEY MELISSA
REGION CODE ADDRESS : 10587 BLUEBELL WAY
01 CITY : COCKEYSVILLE
STATE/ZIP : MD 21030
MORTGAGE AMOUNT : 269,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,923.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,768.13 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 79.98700
----------------------------------------------------------------
0 0031763220 MORTGAGORS: GRAZIANO PETER
GRAZIANO CONNIE
REGION CODE ADDRESS : 2710 NORTH 157TH STREET
01 CITY : OMAHA
STATE/ZIP : NE 68116
MORTGAGE AMOUNT : 258,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,798.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,760.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.38400
----------------------------------------------------------------
0 0031763279 MORTGAGORS: CHEBUSKE GREGORY
CHEBUSKE EVETTE
REGION CODE ADDRESS : 17 WEST DRIVE
01 CITY : FAIRFIELD
STATE/ZIP : NJ 07004
MORTGAGE AMOUNT : 283,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,006.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031763436 MORTGAGORS: MENDRELLA CHRIS
MENDRELLA MELISSA
REGION CODE ADDRESS : 121 TERRAZA SAN BENITO
01 CITY : LA HABRA
STATE/ZIP : CA 90631
MORTGAGE AMOUNT : 279,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,881.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,350,850.00
P & I AMT: 9,240.71
UPB AMT: 1,350,422.62
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 269
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031763741 MORTGAGORS: COBB MARK
COBB DOROTHY
REGION CODE ADDRESS : 2 CHANCEY COURT
01 CITY : ALISO VIEJO
STATE/ZIP : CA 92656
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,154.52 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/18
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 76.05600
----------------------------------------------------------------
0 0031763972 MORTGAGORS: SESSION GARY
SESSION DONNA
REGION CODE ADDRESS : 1152 TARO LANE SW
01 CITY : ROCHESTER
STATE/ZIP : MN 55902
MORTGAGE AMOUNT : 316,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 316,253.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,159.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.72200
----------------------------------------------------------------
0 0031764046 MORTGAGORS: GILMER PRESTON
GILMER ANNETTE
REGION CODE ADDRESS : 1014 FOREST TRAIL
01 CITY : SUGAR GROVE
STATE/ZIP : IL 60554
MORTGAGE AMOUNT : 259,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,007.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,812.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 89.37900
----------------------------------------------------------------
0 0031765027 MORTGAGORS: KAMINS DAVID
GORDON-KAMINS JACQUILINE
REGION CODE ADDRESS : 1904 WEST HENDERSON
01 CITY : CHICAGO
STATE/ZIP : IL 60657
MORTGAGE AMOUNT : 430,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 429,359.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,006.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.77700
----------------------------------------------------------------
0 0031765845 MORTGAGORS: BURNSIDE CHRISTINE
REGION CODE ADDRESS : 1187 SALERNO DRIVE
01 CITY : CAMPBELL
STATE/ZIP : CA 95008
MORTGAGE AMOUNT : 283,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,795.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,003.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 61.52100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,558,700.00
P & I AMT: 11,135.66
UPB AMT: 1,557,415.67
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 270
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031765928 MORTGAGORS: KOESTER DAVID
KOESTER ALBA
REGION CODE ADDRESS : 23668 RIDGEWAY
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92690
MORTGAGE AMOUNT : 371,648.00 OPTION TO CONVERT :
UNPAID BALANCE : 371,335.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,441.46 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031766090 MORTGAGORS: CARUSO ROBERT
CARUSO GINA
REGION CODE ADDRESS : RT1 WEST MAIN STREET UNIT 18
01 CITY : GROTON
STATE/ZIP : CT 06340
MORTGAGE AMOUNT : 261,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,065.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,871.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031767262 MORTGAGORS: MORGANELLI ALAN
MORGANELLI STEPHEN
REGION CODE ADDRESS : 31 OVERLOOK RD
01 CITY : STOUGHTON
STATE/ZIP : MA 02072
MORTGAGE AMOUNT : 318,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 317,775.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,278.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 77.56000
----------------------------------------------------------------
0 0031767668 MORTGAGORS: BARKER GUY
NEWCOMBE ELIZABETH
REGION CODE ADDRESS : 1916 4TH STREET
01 CITY : KIRKLAND
STATE/ZIP : WA 98033
MORTGAGE AMOUNT : 324,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,265.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031768682 MORTGAGORS: GUTWILIK JACK
GUTWILIK SHARI
REGION CODE ADDRESS : 7 JOYCE COURT
01 CITY : THE TOWNSHIP OF MANALAPAN
STATE/ZIP : NJ 07726
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,762.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,073.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,578,898.00
P & I AMT: 10,930.55
UPB AMT: 1,577,939.79
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 271
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031768690 MORTGAGORS: EDELMAN MICHAEL
EDELMAN JOY
REGION CODE ADDRESS : 11 FRED JAHN DRIVE
01 CITY : THE TOWNSHIP OF FREEHOLD
STATE/ZIP : NJ 07728
MORTGAGE AMOUNT : 258,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,293.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,741.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 89.44600
----------------------------------------------------------------
0 0031768716 MORTGAGORS: DRISCOLL KENNETH
BARON JOYCE
REGION CODE ADDRESS : 784 DOW AVENUE
01 CITY : THE TOWNSHIP OF BRIDGEWAT
STATE/ZIP : NJ 08807
MORTGAGE AMOUNT : 328,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 328,143.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,240.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.99700
----------------------------------------------------------------
0 0031768724 MORTGAGORS: FORGIONNE GUISSEPPI
REGION CODE ADDRESS : 17 WOODLAND COURT
01 CITY : TWNSHP OF SPRING GARDEN
STATE/ZIP : PA 17403
MORTGAGE AMOUNT : 366,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 365,308.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,865.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/18
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 67.77700
----------------------------------------------------------------
0 0031768732 MORTGAGORS: KENNEDY HARVEY
REGION CODE ADDRESS : 29 OLD HARTER ROAD
01 CITY : THE TOWNSHIP OF MORRIS
STATE/ZIP : NJ 07960
MORTGAGE AMOUNT : 390,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 389,695.76 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,660.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031768757 MORTGAGORS: SOUTH STEVEN
REGION CODE ADDRESS : 1365 TREE LANE ROAD
01 CITY : SNELLVILLE
STATE/ZIP : GA 30278
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,812.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,637.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 59.55300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,582,900.00
P & I AMT: 11,144.69
UPB AMT: 1,581,253.61
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 272
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031768773 MORTGAGORS: KULAMER RANDY
KULAMER MELANIE
REGION CODE ADDRESS : 465 GUNSTON HALL DRIVE
01 CITY : ALPHARETTA
STATE/ZIP : GA 30004
MORTGAGE AMOUNT : 342,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 342,019.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,277.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 84.31000
----------------------------------------------------------------
0 0031768781 MORTGAGORS: KINGSFIELD JEFFREY
KINGSFIELD TIFFANY
REGION CODE ADDRESS : 3169 BOB COX ROAD
01 CITY : MARIETTA
STATE/ZIP : GA 30064
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,803.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,596.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 60.00000
----------------------------------------------------------------
0 0031768799 MORTGAGORS: EVANS DAVID
EVANS SUSAN
REGION CODE ADDRESS : 201 ST. ANDREWS COURT
01 CITY : MCDONOUGH
STATE/ZIP : GA 30253
MORTGAGE AMOUNT : 296,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,857.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,969.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031768807 MORTGAGORS: MERLIN MARK
REGION CODE ADDRESS : 3941 GLENHURST DRIVE
01 CITY : SMYRNA
STATE/ZIP : GA 30080
MORTGAGE AMOUNT : 267,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,786.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,798.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 73.75600
----------------------------------------------------------------
0 0031768856 MORTGAGORS: PAYNE DAVID
PAYNE MARCIA
REGION CODE ADDRESS : 3213 EAGLE WATCH DRIVE
01 CITY : WOODSTOCK
STATE/ZIP : GA 30189
MORTGAGE AMOUNT : 246,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,798.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,636.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 72.35200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,391,400.00
P & I AMT: 9,279.52
UPB AMT: 1,390,264.79
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 273
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031768864 MORTGAGORS: BERRY CHARLES
BERRY BETTY
REGION CODE ADDRESS : 3511 DONEGAL WAY
01 CITY : LITHONIA
STATE/ZIP : GA 30058
MORTGAGE AMOUNT : 258,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,088.27 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,718.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.99300
----------------------------------------------------------------
0 0031768872 MORTGAGORS: WELDON KENT
WELDON MEGHAN
REGION CODE ADDRESS : 179 CONCORD ROAD
01 CITY : WAYLAND
STATE/ZIP : MA 01778
MORTGAGE AMOUNT : 650,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 649,517.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,544.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.90600
----------------------------------------------------------------
0 0031768898 MORTGAGORS: WILSON ROB
SAMPEY-WILSON AMY
REGION CODE ADDRESS : 165 SHADOWCREEK CHASE
01 CITY : ALPHARETTA
STATE/ZIP : GA 30022
MORTGAGE AMOUNT : 235,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,812.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,583.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 65.27700
----------------------------------------------------------------
0 0031768906 MORTGAGORS: HAYES MICHAEL
REGION CODE ADDRESS : 410 DARTMOUTH PLACE EAST
01 CITY : PEACHTREE CITY
STATE/ZIP : GA 30269
MORTGAGE AMOUNT : 312,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 312,549.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,107.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031769003 MORTGAGORS: MECHLER CHARLES
MECHLER CAMMIE
REGION CODE ADDRESS : 52 HUCKLEBERRY ROAD
01 CITY : HOPKINTON
STATE/ZIP : MA 01748
MORTGAGE AMOUNT : 260,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,421.28 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,845.93 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,716,900.00
P & I AMT: 11,799.95
UPB AMT: 1,715,389.07
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 274
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031769011 MORTGAGORS: FARRELL TIMOTHY
CRISS-FARRELL JEAN
REGION CODE ADDRESS : 8 JASON'S GRANT DRIVE
01 CITY : CUMBERLAND
STATE/ZIP : RI 02864
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,820.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,755.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 73.37200
----------------------------------------------------------------
0 0031769029 MORTGAGORS: GARABEDIAN ARDASHES
GARABEDIAN ANNETTE
REGION CODE ADDRESS : 15 WADSWORTH ROAD
01 CITY : SUDBURY
STATE/ZIP : MA 01776
MORTGAGE AMOUNT : 393,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 392,257.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,909.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/23
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.99000
----------------------------------------------------------------
0 0031769052 MORTGAGORS: ETROPOLSKI MILA
REGION CODE ADDRESS : 222 POND RIDGE ROAD
01 CITY : LIBERTYVILLE
STATE/ZIP : IL 60048
MORTGAGE AMOUNT : 241,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,460.06 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,685.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.01600
----------------------------------------------------------------
0 0031769078 MORTGAGORS: BUCKLEY DAVID
BUCKLEY DENISE
REGION CODE ADDRESS : 50 ROWLEY ROAD
01 CITY : BOXFORD
STATE/ZIP : MA 01921
MORTGAGE AMOUNT : 248,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,654.70 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,874.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/23
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 76.36900
----------------------------------------------------------------
0 0031769490 MORTGAGORS: HAPPY FREDERIC
HICKEY KATHARINE
REGION CODE ADDRESS : 7022 MOLLUK WAY
01 CITY : CLAYTON
STATE/ZIP : CA 94517
MORTGAGE AMOUNT : 274,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 274,274.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,826.26 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.99600
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,405,400.00
P & I AMT: 10,050.84
UPB AMT: 1,402,467.64
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 275
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031769607 MORTGAGORS: EDLUND KAREN
FORTIER BARBARA
REGION CODE ADDRESS : 48 HASKELL STREET
01 CITY : CAMBRIDGE
STATE/ZIP : MA 02140
MORTGAGE AMOUNT : 379,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 378,839.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,689.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 05/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 85.00000
----------------------------------------------------------------
0 0031770647 MORTGAGORS: WRIGHT ROBERT
WRIGHT LESLIE
REGION CODE ADDRESS : 3228 CAMINO COLORADOS
01 CITY : LAFAYETTE
STATE/ZIP : CA 94549
MORTGAGE AMOUNT : 256,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,599.67 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,751.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031770720 MORTGAGORS: ZAFFOS LOUIS
REGION CODE ADDRESS : 3558 JEFFERSON TOWNSHIP PKWY
01 CITY : MARIETTA
STATE/ZIP : GA 30066
MORTGAGE AMOUNT : 251,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,703.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,718.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.99642
----------------------------------------------------------------
0 0031770753 MORTGAGORS: BARNES WILLIAM
BARNES MELISSA
REGION CODE ADDRESS : 5169 KESTRAL PARK LANE
01 CITY : SARASOTA
STATE/ZIP : FL 34231
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,728.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,290.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 78.70300
----------------------------------------------------------------
0 0031770779 MORTGAGORS: HEAGERTY STEVEN
HEAGERTY GAIL
REGION CODE ADDRESS : 1853 RIVER ROAD
01 CITY : BROOKDALE
STATE/ZIP : CA 95007
MORTGAGE AMOUNT : 282,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,923.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 58.75000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,510,650.00
P & I AMT: 10,373.90
UPB AMT: 1,508,870.72
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 276
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031770811 MORTGAGORS: BROOK SCOTT
REGION CODE ADDRESS : 551 NW 120TH DRIVE
01 CITY : CORAL SPRINGS
STATE/ZIP : FL 33071
MORTGAGE AMOUNT : 280,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,736.21 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,940.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 89.88000
----------------------------------------------------------------
0 0031770944 MORTGAGORS: OHLWEILER JAMES
OHLWEILER JOANNE
REGION CODE ADDRESS : 5178 EAST LAKESHORE DRIVE
01 CITY : SAN RAMON
STATE/ZIP : CA 94583
MORTGAGE AMOUNT : 359,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,950.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,547.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 89.99800
----------------------------------------------------------------
0 0031770969 MORTGAGORS: BROWN PHILIP
REGION CODE ADDRESS : 3751 CAPE YORK TRACE
01 CITY : ALPHARETTA
STATE/ZIP : GA 30022
MORTGAGE AMOUNT : 377,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 377,547.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,545.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 89.99200
----------------------------------------------------------------
0 0031771397 MORTGAGORS: PATHAK JANAKRAI
PATHAK PRERANA
REGION CODE ADDRESS : 2405 GRAPEVINE TERRACE
01 CITY : FREMONT
STATE/ZIP : CA 94539
MORTGAGE AMOUNT : 313,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 312,737.04 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,056.19 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 24.07600
----------------------------------------------------------------
0 0031772528 MORTGAGORS: FEDER TED
FEDER GAYLE
REGION CODE ADDRESS : 4806 ADELE COURT
01 CITY : WOODLAND HILLS
STATE/ZIP : CA 91364
MORTGAGE AMOUNT : 313,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 313,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,108.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 77.28300
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,644,750.00
P & I AMT: 11,198.75
UPB AMT: 1,643,971.09
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 277
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031772569 MORTGAGORS: PALLER SONDRA
REGION CODE ADDRESS : 117 LOS PATIOS
01 CITY : LOS GATOS
STATE/ZIP : CA 95032
MORTGAGE AMOUNT : 265,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,807.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 37.85700
----------------------------------------------------------------
0 0031772593 MORTGAGORS: HURLBURT JANA
REGION CODE ADDRESS : 2500 BENEDICT CANYON DRIVE
01 CITY : BEVERLY HILLS
STATE/ZIP : CA 90210
MORTGAGE AMOUNT : 305,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 305,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,080.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 35.26000
----------------------------------------------------------------
0 0031772635 MORTGAGORS: ELLIOTT WILLIAM
ELLIOTT MARVEEN
REGION CODE ADDRESS : 5158 YORKTON WAY
01 CITY : SAN JOSE
STATE/ZIP : CA 95130
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,887.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.48200
----------------------------------------------------------------
0 0031772643 MORTGAGORS: GRZECHNIK SLAWOMIR
GRZECHNIK IZABELA
REGION CODE ADDRESS : 8809 TWIN TRAILS DRIVE
01 CITY : SAN DIEGO
STATE/ZIP : CA 92129
MORTGAGE AMOUNT : 251,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,760.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
0 0031772767 MORTGAGORS: STOCKING THOMAS
SCHNEIDER-STOCKING ARIANNE
REGION CODE ADDRESS : 711 BAMBOO TERRACE
01 CITY : SAN RAFAEL
STATE/ZIP : CA 94903
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,751.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 71.23200
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,351,750.00
P & I AMT: 9,288.24
UPB AMT: 1,351,750.00
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 278
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031772825 MORTGAGORS: SCAHILL FRANCIS
SCAHILL CATHERINE
REGION CODE ADDRESS : 3392 HOMESTEAD AVENUE
01 CITY : WANTAGH
STATE/ZIP : NY 11793
MORTGAGE AMOUNT : 255,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 254,805.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,761.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031772833 MORTGAGORS: SCHWARM CARL
SCHWARM HEATHER
REGION CODE ADDRESS : 2968 TERRY ROAD
01 CITY : LAGUNA BEACH
STATE/ZIP : CA 92651
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,868.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031772841 MORTGAGORS: OWENS CHARLES
OWENS NANETTE
REGION CODE ADDRESS : 1228 BARLOW LANE
01 CITY : SEBASTOPOL
STATE/ZIP : CA 95472
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 270,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,887.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031772858 MORTGAGORS: BUCKLEY ALBERT
MASTERSON GAVIN
REGION CODE ADDRESS : 293 EIGHTH STREET
01 CITY : THE CITY OF JERSEY CITY
STATE/ZIP : NJ 07302
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,808.24 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,740.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031772874 MORTGAGORS: WALSH PATRICK
WALSH TERI
REGION CODE ADDRESS : 4759 HILLSBORO CIRCLE
01 CITY : SANTA ROSA
STATE/ZIP : CA 95405
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 312,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,154.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 65.68400
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,353,000.00
P & I AMT: 9,413.11
UPB AMT: 1,352,614.20
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 279
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031772916 MORTGAGORS: WAMMACK JAMES
WAMMACK NANCY
REGION CODE ADDRESS : 2159 CRESCENT AVENUE
01 CITY : MONTROSE
STATE/ZIP : CA 91020
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,925.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 75.55500
----------------------------------------------------------------
0 0031772957 MORTGAGORS: HOLYCROSS CHARLES
HOLYCROSS BARBARA
REGION CODE ADDRESS : 1247 SUGARBUSH DRIVE
01 CITY : VISTA
STATE/ZIP : CA 92084
MORTGAGE AMOUNT : 366,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 366,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,404.36 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 74.69300
----------------------------------------------------------------
0 0031772973 MORTGAGORS: SHEARN JAMES
SHEARN CAROLE
REGION CODE ADDRESS : 9571 CASTINE DRIVE
01 CITY : HUNTINGTON BEACH
STATE/ZIP : CA 92646
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 328,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,265.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031773302 MORTGAGORS: GRANNIS GORDON
GRANNIS PATRICIA
REGION CODE ADDRESS : 27002 SANTA SUSANA CIRCLE
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92691
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 295,796.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,146.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031773328 MORTGAGORS: SILER DANIEL
SILER SONDRA
REGION CODE ADDRESS : 3128 PASEO ROBLES
01 CITY : PLEASANTON
STATE/ZIP : CA 94566
MORTGAGE AMOUNT : 293,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 293,387.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,078.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,555,600.00
P & I AMT: 10,819.27
UPB AMT: 1,555,183.79
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 280
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031773336 MORTGAGORS: BLANK BRUCE
BLANK PATRICIA
REGION CODE ADDRESS : 22 REGALO DRIVE
01 CITY : MISSION VIEJO
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,756.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,293.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031773377 MORTGAGORS: LEAHY GRANT
LEAHY KIMBERLY
REGION CODE ADDRESS : 9224 WINTERGREEN CIRCLE
01 CITY : FOUNTAIN VALLEY
STATE/ZIP : CA 92708
MORTGAGE AMOUNT : 287,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 286,876.03 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,958.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0031773401 MORTGAGORS: WINNING CHARLES
WINNING PATRICIA
REGION CODE ADDRESS : 7946 HILLARY DRIVE
01 CITY : WEST HILLS
STATE/ZIP : CA 91304
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,676.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 63.00700
----------------------------------------------------------------
0 0031774607 MORTGAGORS: SOOK DAVID
SOOK CYNTHIA
REGION CODE ADDRESS : 1053 ARKELL ROAD
01 CITY : WALNUT CREEK
STATE/ZIP : CA 94598
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 259,797.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,773.66 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031774623 MORTGAGORS: HARDER ROBERT
HARDER CYNTHIA
REGION CODE ADDRESS : 25060 NW RUSSELL CREEK ROAD
01 CITY : YAMHILL
STATE/ZIP : OR 97148
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,808.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,616.92 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,367,100.00
P & I AMT: 9,319.09
UPB AMT: 1,366,237.86
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 281
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031774656 MORTGAGORS: ROMERO ORLANDO
ROMERO TERRY
REGION CODE ADDRESS : 913 AZALEA AVENUE
01 CITY : BURLINGAME
STATE/ZIP : CA 94010
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,762.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,237.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031774680 MORTGAGORS: HESLINGTON DONALD
HESLINGTON DIANE
REGION CODE ADDRESS : 506 WEST 870 SOUTH
01 CITY : OREM
STATE/ZIP : UT 84058
MORTGAGE AMOUNT : 318,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 317,719.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,036.19 OUTSIDE CONV DATE :
LIFETIME RATE : 6.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.62500 PRODUCT CODE : 002
LTV : 79.50000
----------------------------------------------------------------
0 0031774714 MORTGAGORS: GOLDING STEVEN
GOLDING KELLI
REGION CODE ADDRESS : 560 GRANITE HILLS STREET
01 CITY : SIMI VALLEY
STATE/ZIP : CA 93065
MORTGAGE AMOUNT : 333,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 333,850.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,277.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.99800
----------------------------------------------------------------
0 0031774722 MORTGAGORS: LOGSDON GARY
LOGSDON SUSAN
REGION CODE ADDRESS : 2149 ELDERBERRY LANE
01 CITY : SAN RAFAEL
STATE/ZIP : CA 94903
MORTGAGE AMOUNT : 303,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,368.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,096.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0031774748 MORTGAGORS: BIERE LEDREW
BIERE JOANNA
REGION CODE ADDRESS : 801 CAMINO FLORES
01 CITY : THOUSAND OAKS
STATE/ZIP : CA 91360
MORTGAGE AMOUNT : 403,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 403,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,715.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 70.70100
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,678,450.00
P & I AMT: 11,363.11
UPB AMT: 1,677,700.94
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 282
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0031774763 MORTGAGORS: HOLT TROY
HOLT TRACY
REGION CODE ADDRESS : 2964 LETHBRIDGE COURT
01 CITY : PLEASANTON
STATE/ZIP : CA 94588
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,782.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,123.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 79.36500
----------------------------------------------------------------
0 0031776305 MORTGAGORS: KOLODZIEJSKI DIANE
REGION CODE ADDRESS : 4050 VIA DOLCE UNIT 342
01 CITY : MARINA DEL REY
STATE/ZIP : CA 90292
MORTGAGE AMOUNT : 307,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 307,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,225.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 74.87800
----------------------------------------------------------------
0 0031776313 MORTGAGORS: BOURBEAU GERARD
BOURBEAU ELENA
REGION CODE ADDRESS : 913 DESCONSADO
01 CITY : LIVERMORE
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 277,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,940.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0031776347 MORTGAGORS: ZIMMERMAN PAUL
ZIMMERMAN CONNIE
REGION CODE ADDRESS : 10316 HICKORY CREEK COURT
01 CITY : GREAT FALLS
STATE/ZIP : VA 22066
MORTGAGE AMOUNT : 274,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 273,796.65 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,915.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070055363 MORTGAGORS: PUTHUMANA HORTANCIA
PUTHUMANA GEORGE
REGION CODE ADDRESS : 302 CAMELOT LANE
01 CITY : LIBERTYVILL
STATE/ZIP : IL 60048
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 400,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,728.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 44.44444
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,558,500.00
P & I AMT: 10,934.23
UPB AMT: 1,558,079.52
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 283
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070079322 MORTGAGORS: KUGLER ROBERT
REGION CODE ADDRESS : 17131 SOUTH PACIFIC AVENUE
01 CITY : SUNSET BEAC
STATE/ZIP : CA 90742
MORTGAGE AMOUNT : 620,575.00 OPTION TO CONVERT :
UNPAID BALANCE : 620,575.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,128.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 48.67255
----------------------------------------------------------------
0 0070081120 MORTGAGORS: KISHI JOHN
KISHI CINDY
REGION CODE ADDRESS : 6909 HANNUM AVENUE
01 CITY : CULVER CITY
STATE/ZIP : CA 90230
MORTGAGE AMOUNT : 238,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,218.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,643.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 86.54545
----------------------------------------------------------------
0 0070121546 MORTGAGORS: JAJEH JAMES
SAADEH JAJEH DIANA
REGION CODE ADDRESS : 2555 DONEGAL AVENUE
01 CITY : SOUTH SAN F
STATE/ZIP : CA 94080
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,786.94 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,933.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070130786 MORTGAGORS: WARREN WILLIAM
WARREN DIANE
REGION CODE ADDRESS : 911 THOMAS AVENUE
01 CITY : CINNAMINSON
STATE/ZIP : NJ 08077
MORTGAGE AMOUNT : 330,350.00 OPTION TO CONVERT :
UNPAID BALANCE : 330,350.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,281.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 82.58750
----------------------------------------------------------------
0 0070134960 MORTGAGORS: KUO CHUAN MING
KUO PI MEI
REGION CODE ADDRESS : 843 NORTH HILLCREST STREET
01 CITY : WALNUT
STATE/ZIP : CA 91789
MORTGAGE AMOUNT : 347,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 346,521.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,429.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,816,325.00
P & I AMT: 12,417.12
UPB AMT: 1,813,451.71
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 284
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070138466 MORTGAGORS: LE DAN
NGO ANN
REGION CODE ADDRESS : 855 POINT CREEK DRIVE
01 CITY : San Jose
STATE/ZIP : CA 95133
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 359,719.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,455.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070138862 MORTGAGORS: LOWE GLADYS
REGION CODE ADDRESS : 12029 RHODE ISLAND AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90025
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,782.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,123.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 67.41573
----------------------------------------------------------------
0 0070144837 MORTGAGORS: HAND M
BAILEY DANIEL
REGION CODE ADDRESS : 6000 STONE PLACE AVENUE
01 CITY : GILLETTE
STATE/ZIP : WY 82716
MORTGAGE AMOUNT : 638,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 638,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,411.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 72.25679
----------------------------------------------------------------
0 0070150248 MORTGAGORS: BECKROT ANDERS
BECKROT GUNILLA
REGION CODE ADDRESS : 615 HIGH DRIVE
01 CITY : LAGUNA BEAC
STATE/ZIP : CA 92651
MORTGAGE AMOUNT : 246,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,733.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,701.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 60.81481
----------------------------------------------------------------
0 0070160957 MORTGAGORS: ZHANG SCOTT
LEE PAULA
REGION CODE ADDRESS : 43532 LAUREL GLEN COMMON
01 CITY : Fremont
STATE/ZIP : CA 94539
MORTGAGE AMOUNT : 395,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 394,684.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,661.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.32000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,940,050.00
P & I AMT: 13,353.22
UPB AMT: 1,938,669.30
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 285
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070161724 MORTGAGORS: FLY DONALD
FLY DEBORAH
REGION CODE ADDRESS : 5356 AMBRIDGE DRIVE
01 CITY : CALABASAS
STATE/ZIP : CA 91301
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 280,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,933.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070177423 MORTGAGORS: MICHALOSKY ROBERT
MICHALOSKY CATHLEEN
REGION CODE ADDRESS : 3103 RAMADA COURT
01 CITY : LAFAYETTE
STATE/ZIP : CA 94549
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,560.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,074.71 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/18
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 60.46512
----------------------------------------------------------------
0 0070177878 MORTGAGORS: KANEVSKY ALEKSANDER
KANEVSKY ZHANNA
REGION CODE ADDRESS : 108 FINLAY STREET
01 CITY : STATEN ISLA
STATE/ZIP : NY 10307
MORTGAGE AMOUNT : 260,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,020.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/18
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 88.33898
----------------------------------------------------------------
0 0070179882 MORTGAGORS: CHAMBERLAIN CLARK
REGION CODE ADDRESS : 916 EAST DESERT FLOWER LAN
01 CITY : PHOENIX
STATE/ZIP : AZ 85048
MORTGAGE AMOUNT : 399,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,757.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.27451
----------------------------------------------------------------
0 0070179890 MORTGAGORS: PHIPPS JOHN
PHIPPS PATRICIA
REGION CODE ADDRESS : 3015 DUVALL COURT
01 CITY : GILROY
STATE/ZIP : CA 95020
MORTGAGE AMOUNT : 294,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 292,240.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,030.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.57841
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,493,800.00
P & I AMT: 10,816.79
UPB AMT: 1,490,601.12
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 286
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070180229 MORTGAGORS: PITTS MICHAEL
NIGHTINGALE MELODY
REGION CODE ADDRESS : 873 MOUNT WASHINGTON DRIVE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90065
MORTGAGE AMOUNT : 297,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,273.62 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,054.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.33333
----------------------------------------------------------------
0 0070186242 MORTGAGORS: LENSHOEK HENK
LENSHOEK LEQUYEN
REGION CODE ADDRESS : 2265 SO SAN TOMAS AQUINO
01 CITY : SAN JOSE
STATE/ZIP : CA 95008
MORTGAGE AMOUNT : 264,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,657.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,847.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 76.59420
----------------------------------------------------------------
0 0070187232 MORTGAGORS: NGUYEN THUY
DINH TAM
REGION CODE ADDRESS : 1361 LONGMONT PLACE
01 CITY : SANTA ANA
STATE/ZIP : CA 92705
MORTGAGE AMOUNT : 466,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 461,056.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,258.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.16129
----------------------------------------------------------------
0 0070187257 MORTGAGORS: LUMETTA MELCHIOR
LUMETTA SHARON
REGION CODE ADDRESS : 14220 ROCKPILE ROAD
01 CITY : GEYSERVILLE
STATE/ZIP : CA 95441
MORTGAGE AMOUNT : 649,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 649,417.68 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,544.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 64.99000
----------------------------------------------------------------
0 0070193503 MORTGAGORS: NEWBERG JEFFREY
NEWBERG MICHELE
REGION CODE ADDRESS : 17221 SANTA CATHERINE STRE
01 CITY : FOUNTAIN VA
STATE/ZIP : CA 92708
MORTGAGE AMOUNT : 237,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,640.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 95.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,915,150.00
P & I AMT: 13,345.32
UPB AMT: 1,908,905.71
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 287
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070197520 MORTGAGORS: LEYDEN JOHN
LEYDEN AGNES
REGION CODE ADDRESS : 64 MAIDEN LANE
01 CITY : CROTON ON H
STATE/ZIP : NY 10520
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,901.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070200514 MORTGAGORS: NEVINS JEROME
NEVINS JOYCE
REGION CODE ADDRESS : 18891 LOS HERMANOS RANCH R
01 CITY : VALLEY CENT
STATE/ZIP : CA 92082
MORTGAGE AMOUNT : 320,464.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,302.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,581.64 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/18
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.12691
----------------------------------------------------------------
0 0070200753 MORTGAGORS: UNVERZAGT ROBERT
UNVERZAGT TARA
REGION CODE ADDRESS : 5016 CATHANN STREET
01 CITY : TORRANCE
STATE/ZIP : CA 90503
MORTGAGE AMOUNT : 270,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 269,794.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,864.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 70.68063
----------------------------------------------------------------
0 0070201421 MORTGAGORS: ESPINOZA FROILAN
ESPINOZA JOY
REGION CODE ADDRESS : 27945 ENCANTO
01 CITY : Mission Viejo
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 251,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 251,601.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,709.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.20000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.20000 PRODUCT CODE : 002
LTV : 89.99000
----------------------------------------------------------------
0 0070201884 MORTGAGORS: GROSS CHARLES
GROSS JOY
REGION CODE ADDRESS : 2001 YACHT MISCHIEF
01 CITY : NEWPORT BEA
STATE/ZIP : CA 92660
MORTGAGE AMOUNT : 363,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 362,186.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,538.15 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 57.16535
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,477,264.00
P & I AMT: 10,595.66
UPB AMT: 1,474,885.80
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 288
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070203062 MORTGAGORS: RODRIGUES MICHAEL
RODRIGUES SUSAN
REGION CODE ADDRESS : 39 EAST BEL AIR ROAD
01 CITY : CRANSTON
STATE/ZIP : RI 02920
MORTGAGE AMOUNT : 241,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,700.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,669.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 76.24606
----------------------------------------------------------------
0 0070207634 MORTGAGORS: GORDON VINCENT
GORDON CHERYL
REGION CODE ADDRESS : 9830 EAST PROGRESS CIRCLE
01 CITY : GREENWOOD V
STATE/ZIP : CO 80111
MORTGAGE AMOUNT : 475,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 475,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,321.27 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 65.51724
----------------------------------------------------------------
0 0070208376 MORTGAGORS: JACKSON MARK
JACKSON HELEN
REGION CODE ADDRESS : 450 LOWELL PLACE
01 CITY : FREMONT
STATE/ZIP : CA 94536
MORTGAGE AMOUNT : 352,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,412.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,466.83 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 83.20755
----------------------------------------------------------------
0 0070211529 MORTGAGORS: PARISER WAYNE
REGION CODE ADDRESS : 1333 18TH STREET
01 CITY : SANTA MONIC
STATE/ZIP : CA 90404
MORTGAGE AMOUNT : 242,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 242,669.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,698.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 74.72308
----------------------------------------------------------------
0 0070213749 MORTGAGORS: RUDOLPH JERRY
RUDOLPH MILLIE
REGION CODE ADDRESS : 6695 BURNSIDE ROAD
01 CITY : SEBASTOPOL
STATE/ZIP : CA 95472
MORTGAGE AMOUNT : 261,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,984.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,784.57 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 65.40000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,573,950.00
P & I AMT: 10,940.07
UPB AMT: 1,570,766.20
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 289
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070217807 MORTGAGORS: LUJAN ROBERT
LUJAN EVA
REGION CODE ADDRESS : 3302 BOUNTY CIRCLE
01 CITY : HUNTINGTON
STATE/ZIP : CA 92649
MORTGAGE AMOUNT : 420,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 419,680.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,900.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 51.85185
----------------------------------------------------------------
0 0070218730 MORTGAGORS: GOMEZ ROGER
GOMEZ VILMA
REGION CODE ADDRESS : 2423 FLICKINGER ROAD
01 CITY : SAN JOSE
STATE/ZIP : CA 95131
MORTGAGE AMOUNT : 235,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,056.57 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,628.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.60000
----------------------------------------------------------------
0 0070218904 MORTGAGORS: PATRICK LAURIE
PATRICK RALPH
REGION CODE ADDRESS : 166 LESSAY
01 CITY : NEWPORT COA
STATE/ZIP : CA 92657
MORTGAGE AMOUNT : 260,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,551.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,795.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.75460
----------------------------------------------------------------
0 0070219050 MORTGAGORS: RYAN MARK
RYAN PAIGE
REGION CODE ADDRESS : 5174 CORTE PLAYA SAN JUAN
01 CITY : SAN DIEGO
STATE/ZIP : CA 92124
MORTGAGE AMOUNT : 241,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,604.52 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,666.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.90066
----------------------------------------------------------------
0 0070221155 MORTGAGORS: POUPIS SERGE
POUPIS NORMA
REGION CODE ADDRESS : 5000 DENSMORE AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 91436
MORTGAGE AMOUNT : 399,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,344.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,954.49 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/23
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 86.91304
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,556,900.00
P & I AMT: 10,946.30
UPB AMT: 1,552,237.53
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 290
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070223136 MORTGAGORS: PAULUKAITIS LINDA
PAULUKAITIS JOHN
REGION CODE ADDRESS : 8866 BALMORAL DR
01 CITY : NEWCASTLE
STATE/ZIP : CA 95658
MORTGAGE AMOUNT : 235,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,821.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,623.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 65.27778
----------------------------------------------------------------
0 0070224076 MORTGAGORS: FENLON BRIAN
FENLON YONG
REGION CODE ADDRESS : 2816 CACATUA STREET
01 CITY : CARLSBAD
STATE/ZIP : CA 92009
MORTGAGE AMOUNT : 262,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,526.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,110.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/18
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 81.87500
----------------------------------------------------------------
0 0070225446 MORTGAGORS: ARITA KENJI
ARITA MICHIYO
REGION CODE ADDRESS : 942 SEPTEMBER DRIVE
01 CITY : CUPERTINO
STATE/ZIP : CA 95014
MORTGAGE AMOUNT : 346,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 345,736.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,389.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 69.20000
----------------------------------------------------------------
0 0070229877 MORTGAGORS: BASTIAN ERNST
MCGRAW KAREN
REGION CODE ADDRESS : 3261 GERONIMO AVE
01 CITY : SIMI VALLEY
STATE/ZIP : CA 93063
MORTGAGE AMOUNT : 282,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,763.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,852.54 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 84.17910
----------------------------------------------------------------
0 0070235825 MORTGAGORS: CYBULSKI JOHN
CYBULSKI KATHY
REGION CODE ADDRESS : 10928 BATON ROUGE AVENUE
01 CITY : NORTHRIDGE
STATE/ZIP : CA 91326
MORTGAGE AMOUNT : 257,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,020.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,035.22 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/18
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 64.37500
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,382,500.00
P & I AMT: 10,011.24
UPB AMT: 1,380,868.35
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 291
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070240908 MORTGAGORS: YAKUSHI ROBERT
YAKUSHI ANNETTE
REGION CODE ADDRESS : 3437 VIA LA SELVA
01 CITY : PALOS VERDE
STATE/ZIP : CA 90274
MORTGAGE AMOUNT : 548,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 547,471.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,738.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070241229 MORTGAGORS: KING JAMES
DUERR ALI
REGION CODE ADDRESS : 59 MONTFORD AVENUE
01 CITY : MILL VALLEY
STATE/ZIP : CA 94941
MORTGAGE AMOUNT : 394,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 393,447.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,756.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 48.60666
----------------------------------------------------------------
0 0070243779 MORTGAGORS: LAU HENRY
TANG CHERYL
REGION CODE ADDRESS : 2031 SPANISH BAY COURT
01 CITY : San Jose
STATE/ZIP : CA 95138
MORTGAGE AMOUNT : 527,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 525,958.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,596.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070247473 MORTGAGORS: JARCZYK PATRICIA
REGION CODE ADDRESS : 5111 WEST CINNABAR AVENUE
01 CITY : GLENDALE
STATE/ZIP : AZ 85302
MORTGAGE AMOUNT : 243,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,719.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 78.38710
----------------------------------------------------------------
0 0070253778 MORTGAGORS: VAN ALEXANDER
VAN DIANNE
REGION CODE ADDRESS : 4115 VIA SOLANO
01 CITY : PALOS VERDE
STATE/ZIP : CA 90274
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,737.88 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,049.62 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 56.72727
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,024,400.00
P & I AMT: 13,860.62
UPB AMT: 2,021,615.75
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 292
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070256433 MORTGAGORS: SCROFANI ALDO
WARD SHERRY
REGION CODE ADDRESS : 909 BOULEVARD
01 CITY : WESTFIELD
STATE/ZIP : NJ 07090
MORTGAGE AMOUNT : 288,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 288,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,157.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/23
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 57.75000
----------------------------------------------------------------
0 0070258447 MORTGAGORS: MALONE RICHARD
MALONE BEVERLY
REGION CODE ADDRESS : 1037 LAKE FRONT ROAD
01 CITY : LAKE OSWEGO
STATE/ZIP : OR 97034
MORTGAGE AMOUNT : 449,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 449,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,027.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 59.90667
----------------------------------------------------------------
0 0070259221 MORTGAGORS: DANIEL TOMMY
DANIEL DEBRA
REGION CODE ADDRESS : 2542 1/2 FOOTHILL DRIVE
01 CITY : Vista
STATE/ZIP : CA 92084
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 284,542.82 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,920.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 65.29000
----------------------------------------------------------------
0 0070260450 MORTGAGORS: KATEN ROBERT
KATEN TERESA
REGION CODE ADDRESS : 1486 JUSTINE COURT
01 CITY : Livermore
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 354,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 354,223.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,418.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0070261466 MORTGAGORS: HOWSMON STEVE
HOWSMON ROBIN
REGION CODE ADDRESS : 17552 BECKWALL LANE
01 CITY : HUNTINGTON
STATE/ZIP : CA 92649
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 297,284.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,021.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 62.50000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,677,550.00
P & I AMT: 11,543.96
UPB AMT: 1,674,101.03
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 293
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070261490 MORTGAGORS: COSTA NANCY
REGION CODE ADDRESS : 1738 TRADEWINDS LANE
01 CITY : NEWPORT BEA
STATE/ZIP : CA 92660
MORTGAGE AMOUNT : 450,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 450,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,146.47 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0070261805 MORTGAGORS: MEDURI VIJAY
PADMANABHAN PURNINA
REGION CODE ADDRESS : 43484 LAUREL GLEN COMMON
01 CITY : Fremont
STATE/ZIP : CA 94539
MORTGAGE AMOUNT : 388,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 387,838.31 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,586.70 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070262829 MORTGAGORS: CLAUSSEN BRYAN
CLAUSSEN BRIDGETT
REGION CODE ADDRESS : 324 COUNTRYSIDE DRIVE
01 CITY : SANTA ROSA
STATE/ZIP : CA 95401
MORTGAGE AMOUNT : 233,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,243.40 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,613.42 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070262886 MORTGAGORS: DESAI ANIL
DESAI GITA
REGION CODE ADDRESS : 12324 LOLLY DRIVE.
01 CITY : Saratoga
STATE/ZIP : CA 95070
MORTGAGE AMOUNT : 310,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 309,549.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,194.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 43.06000
----------------------------------------------------------------
0 0070263256 MORTGAGORS: COOMBES MARTIN
COOMBES RHONDA
REGION CODE ADDRESS : 1618 MONTEMAR WAY
01 CITY : San Jose
STATE/ZIP : CA 95125
MORTGAGE AMOUNT : 336,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,247.23 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,349.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,718,400.00
P & I AMT: 11,890.11
UPB AMT: 1,715,878.78
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 294
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070263397 MORTGAGORS: REID KEVIN
TALIA-REID JACQUELINE
REGION CODE ADDRESS : 1172 LOVELL AVENUE
01 CITY : Campbell
STATE/ZIP : CA 95008
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 349,196.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,417.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0070264544 MORTGAGORS: SKORDAS RICHARD
SKORDAS SHELLI
REGION CODE ADDRESS : 25772 CLOVERFIELD COURT
01 CITY : CASTRO VALL
STATE/ZIP : CA 94552
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 324,413.07 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,618.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/18
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.31325
----------------------------------------------------------------
0 0070264718 MORTGAGORS: MARICAL JEFFERY
MCKENZIE OLGA
REGION CODE ADDRESS : 84 RIO SERENA AVENUE
01 CITY : Campbell
STATE/ZIP : CA 95008
MORTGAGE AMOUNT : 272,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 271,803.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,925.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070264734 MORTGAGORS: HIGGS CRAIG
AARON CYNTHIA
REGION CODE ADDRESS : 12686 CREST KNOLLS COURT
01 CITY : SAN DIEGO
STATE/ZIP : CA 92130
MORTGAGE AMOUNT : 390,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 389,710.56 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,726.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 78.00000
----------------------------------------------------------------
0 0070265061 MORTGAGORS: BARNARD ELVIRA
REGION CODE ADDRESS : 914 WEST ROSES ROAD
01 CITY : SAN GABRIEL
STATE/ZIP : CA 91775
MORTGAGE AMOUNT : 267,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 266,250.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,665.73 OUTSIDE CONV DATE :
LIFETIME RATE : 6.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.37500 PRODUCT CODE : 002
LTV : 54.48980
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,604,000.00
P & I AMT: 11,353.41
UPB AMT: 1,601,372.93
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 295
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070265269 MORTGAGORS: SAAL THOMAS
SAAL DEBORAH
REGION CODE ADDRESS : 1 PATRICKS WAY
01 CITY : ST. JAMES
STATE/ZIP : NY 11745
MORTGAGE AMOUNT : 255,550.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,550.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,721.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 89.66981
----------------------------------------------------------------
0 0070265285 MORTGAGORS: CABATBAT ARSENIO
CABATBAT GLORIA
REGION CODE ADDRESS : 6257 MONERO DRIVE
01 CITY : RANCHO PALO
STATE/ZIP : CA 90274
MORTGAGE AMOUNT : 368,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 367,675.33 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,356.34 OUTSIDE CONV DATE :
LIFETIME RATE : 6.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.62500 PRODUCT CODE : 002
LTV : 78.29787
----------------------------------------------------------------
0 0070266416 MORTGAGORS: BOSILL STANLEY
BOSILL BARBARA
REGION CODE ADDRESS : 103 PERRY AVE
01 CITY : NORWALK
STATE/ZIP : CT 06850
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,899.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.02299
----------------------------------------------------------------
0 0070266648 MORTGAGORS: VAN DER WYK ERIC
VAN DER WYK DEBORAH
REGION CODE ADDRESS : 3319 MACHADO AVENUE
01 CITY : Santa Clara
STATE/ZIP : CA 95051
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,430.41 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,712.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 06/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 72.30000
----------------------------------------------------------------
0 0070267067 MORTGAGORS: SCAPUZZI DONALD
SCAPUZZI PATRICIA
REGION CODE ADDRESS : 1451 CRESTVIEW DRIVE
01 CITY : SAN CARLOS
STATE/ZIP : CA 94070
MORTGAGE AMOUNT : 480,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 479,643.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,356.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 73.84615
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,626,550.00
P & I AMT: 11,046.49
UPB AMT: 1,625,299.51
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 296
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070268172 MORTGAGORS: BRICKER ROBERT
BRICKER WENDY
REGION CODE ADDRESS : 28581 GORDON HILL ROAD
01 CITY : Valley Center
STATE/ZIP : CA 92082
MORTGAGE AMOUNT : 260,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 260,311.85 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,822.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 69.89000
----------------------------------------------------------------
0 0070268669 MORTGAGORS: EASLEY STANFORD
EASLEY KAREN
REGION CODE ADDRESS : 4961 BROOKBURN
01 CITY : SAN DIEGO
STATE/ZIP : CA 92130
MORTGAGE AMOUNT : 278,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 276,096.11 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,947.31 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 64.76744
----------------------------------------------------------------
0 0070268701 MORTGAGORS: DANIELE SUSAN
REGION CODE ADDRESS : 81 PELICAN COURT
01 CITY : NEWPORT BEA
STATE/ZIP : CA 92660
MORTGAGE AMOUNT : 257,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,794.48 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,731.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 88.62069
----------------------------------------------------------------
0 0070269139 MORTGAGORS: DICECCO JOHN
DICECCO MARY BETH
REGION CODE ADDRESS : 1024 S WEYMOUTH AVENUE
01 CITY : San Pedro
STATE/ZIP : CA 90732
MORTGAGE AMOUNT : 262,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 261,609.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,831.94 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 77.51000
----------------------------------------------------------------
0 0070269238 MORTGAGORS: LA ROSA DANIEL
DE LA ROSA DENISE
REGION CODE ADDRESS : 5612 RIDGEVIEW DRIVE
01 CITY : La Verne
STATE/ZIP : CA 91750
MORTGAGE AMOUNT : 313,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 313,411.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,166.30 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,371,850.00
P & I AMT: 9,499.86
UPB AMT: 1,368,223.68
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 297
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070270780 MORTGAGORS: KURRELS PETER
KURRELS SYLVIA
REGION CODE ADDRESS : 326 ALAMEDA PADRE SERRA
01 CITY : SANTA BARBA
STATE/ZIP : CA 93103
MORTGAGE AMOUNT : 400,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,703.14 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,796.86 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070274725 MORTGAGORS: ruiz matthew
RUIZ JEANNE
REGION CODE ADDRESS : 304 COLLEGE PARK DRIVE
01 CITY : Seal Beach
STATE/ZIP : CA 90740
MORTGAGE AMOUNT : 236,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,665.80 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,690.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070275524 MORTGAGORS: CHAN KWOK
CHAN NANCY
REGION CODE ADDRESS : 10730 INSPIRATION CIRCLE
01 CITY : Dublin
STATE/ZIP : CA 94568
MORTGAGE AMOUNT : 400,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 400,172.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,734.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.97000
----------------------------------------------------------------
0 0070277009 MORTGAGORS: KOLAHI JAVAD
DABIRI MEHRTAJ
REGION CODE ADDRESS : 906 GREEN LANE
01 CITY : LA CANADA
STATE/ZIP : CA 91011
MORTGAGE AMOUNT : 390,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 388,891.92 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,693.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 44.57143
----------------------------------------------------------------
0 0070277157 MORTGAGORS: MARKHAM CHARLES
MARKHAM ALICE
REGION CODE ADDRESS : 333 EAST 39TH AVENUE
01 CITY : SAN MATEO
STATE/ZIP : CA 94403
MORTGAGE AMOUNT : 242,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,793.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,671.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 69.14286
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,668,800.00
P & I AMT: 11,586.81
UPB AMT: 1,666,226.70
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 298
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070277280 MORTGAGORS: COOPER KEITH
COOPER MARLENE
REGION CODE ADDRESS : 1605 MEADOWBROOK ROAD
01 CITY : ALTADENA
STATE/ZIP : CA 91001
MORTGAGE AMOUNT : 400,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,952.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,798.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 72.77273
----------------------------------------------------------------
0 0070278650 MORTGAGORS: VERNA NICHOLAS
VERNA PATRICIA
REGION CODE ADDRESS : 25910 PACIFIC POINT
01 CITY : Mission Viejo
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 308,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 308,351.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,185.67 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 71.81000
----------------------------------------------------------------
0 0070278809 MORTGAGORS: CHEE KAM
CHEE MAUREEN
REGION CODE ADDRESS : 5 SCOTSMAN WAY
01 CITY : BASKING RID
STATE/ZIP : NJ 07920
MORTGAGE AMOUNT : 386,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 386,700.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,670.84 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 72.96226
----------------------------------------------------------------
0 0070279948 MORTGAGORS: DEMMEL JAMES
YELICK KATHERINE
REGION CODE ADDRESS : 416 KENTUCKY AVENUE
01 CITY : BERKELEY
STATE/ZIP : CA 94707
MORTGAGE AMOUNT : 384,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 384,100.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,587.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 70.99815
----------------------------------------------------------------
0 0070280326 MORTGAGORS: CHOY GARETT
CHOY TINA
REGION CODE ADDRESS : 20095 NORTHWIND SQUARE
01 CITY : Cupertino
STATE/ZIP : CA 95014
MORTGAGE AMOUNT : 244,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,153.75 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,751.63 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,724,350.00
P & I AMT: 11,994.50
UPB AMT: 1,723,258.28
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 299
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070280490 MORTGAGORS: MCCARTHY KEVIN
MCCARTHY JAMEY
REGION CODE ADDRESS : 28 SOUTH PINE AVENUE
01 CITY : CONGERS
STATE/ZIP : NY 10920
MORTGAGE AMOUNT : 279,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,926.98 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 88.29114
----------------------------------------------------------------
0 0070281084 MORTGAGORS: MARTIN SCOTT
MARTIN JUDY
REGION CODE ADDRESS : 12 HIDDEN CREEK DRIVE
01 CITY : IRVINE
STATE/ZIP : CA 92620
MORTGAGE AMOUNT : 345,787.00 OPTION TO CONVERT :
UNPAID BALANCE : 334,194.09 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,242.77 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 48.94367
----------------------------------------------------------------
0 0070281191 MORTGAGORS: ESBIN STEPHEN
REGION CODE ADDRESS : 1501 PACIFIC ST.
01 CITY : Santa Monica
STATE/ZIP : CA 90405
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,561.84 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,910.09 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 64.37000
----------------------------------------------------------------
0 0070281621 MORTGAGORS: LABINSON ROBERT
REGION CODE ADDRESS : 140 RIVERSIDE DRIVE #2F
01 CITY : New York
STATE/ZIP : NY 10024
MORTGAGE AMOUNT : 363,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 363,750.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,543.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 70.63000
----------------------------------------------------------------
0 0070281886 MORTGAGORS: KHAN SHAKIR
REGION CODE ADDRESS : 311 WASHBURN DRIVE
01 CITY : Fremont
STATE/ZIP : CA 94536
MORTGAGE AMOUNT : 240,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 239,660.13 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,719.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,508,537.00
P & I AMT: 10,342.62
UPB AMT: 1,496,166.06
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 300
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070282645 MORTGAGORS: FRANSCELLA RONALD
HOLEY FRANSCELLA STACEY
REGION CODE ADDRESS : 28586 RANCHO GRANDE
01 CITY : Laguna Niguel
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 373,860.00 OPTION TO CONVERT :
UNPAID BALANCE : 373,289.29 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,582.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0070282678 MORTGAGORS: CRISSMAN BARRY
CRISSMAN BARBARA
REGION CODE ADDRESS : 10 SEMBRADO
01 CITY : RANCHO STA
STATE/ZIP : CA 92688
MORTGAGE AMOUNT : 272,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 272,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,880.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 57.91489
----------------------------------------------------------------
0 0070283494 MORTGAGORS: CORSO PHILIP
CORSO CHRISTINA
REGION CODE ADDRESS : 11220 BAY LAUREL STREET
01 CITY : DUBLIN
STATE/ZIP : CA 94568
MORTGAGE AMOUNT : 293,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 293,376.60 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,027.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 69.14939
----------------------------------------------------------------
0 0070283791 MORTGAGORS: AUGARTEN MARK
AUGARTEN CYNTHIA
REGION CODE ADDRESS : 5708 RIDGEVIEW DRIVE
01 CITY : LA VERNE
STATE/ZIP : CA 91755
MORTGAGE AMOUNT : 303,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,100.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,067.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 79.99000
----------------------------------------------------------------
0 0070283957 MORTGAGORS: WARD ROBERT
REGION CODE ADDRESS : 3135 TYROL DRIVE
01 CITY : Laguna Beach
STATE/ZIP : CA 92651
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,611.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,691.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 68.89000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,490,760.00
P & I AMT: 10,249.48
UPB AMT: 1,489,577.79
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 301
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070284401 MORTGAGORS: CACERES ADRIAN
SLAUGHTER STEPHANIE
REGION CODE ADDRESS : 19162 OLD VINYARD ROAD
01 CITY : Los Gatos
STATE/ZIP : CA 95030
MORTGAGE AMOUNT : 472,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 471,603.47 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,100.70 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070284575 MORTGAGORS: DOBRENEN MITCHELL
DOBRENEN KATHERINE
REGION CODE ADDRESS : 114 WEST AVENIDA SANTIAGO
01 CITY : San Clemente
STATE/ZIP : CA 92672
MORTGAGE AMOUNT : 319,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 319,000.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,179.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
0 0070286141 MORTGAGORS: PARKER ROBERT
PARKER LEIGH
REGION CODE ADDRESS : 20212 BIG BEND LANE
01 CITY : HUNTINGTON
STATE/ZIP : CA 92646
MORTGAGE AMOUNT : 245,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 244,493.61 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,632.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 71.13043
----------------------------------------------------------------
0 0070286604 MORTGAGORS: MARIN RANDY
MARIN SUZANNE
REGION CODE ADDRESS : 647 A AVENUE
01 CITY : Coronado
STATE/ZIP : CA 92118
MORTGAGE AMOUNT : 580,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 579,547.55 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,956.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 68.24000
----------------------------------------------------------------
0 0070286778 MORTGAGORS: DRENNAN DONALD
DRENNAN KIMBERLY
REGION CODE ADDRESS : 5543 SOUTH FRANKLIN LANE
01 CITY : LITTLETON
STATE/ZIP : CO 80121
MORTGAGE AMOUNT : 305,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 305,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,109.32 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 62.96907
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,922,300.00
P & I AMT: 12,978.84
UPB AMT: 1,920,044.65
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 302
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070286950 MORTGAGORS: ARMSTRONG GREGORY
ARMSTRONG LINDA
REGION CODE ADDRESS : 70 EAST 96TH ST. #14B
01 CITY : New York
STATE/ZIP : NY 10128
MORTGAGE AMOUNT : 550,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 550,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,751.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 51.40000
----------------------------------------------------------------
0 0070287453 MORTGAGORS: SYKES ALBERT
SYKES MARILYN
REGION CODE ADDRESS : 6305 SEASIDE WALK
01 CITY : LONG BEACH
STATE/ZIP : CA 90803
MORTGAGE AMOUNT : 387,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 387,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,678.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 35.25455
----------------------------------------------------------------
0 0070287693 MORTGAGORS: KEGG TERRY
KEGG RHONDA
REGION CODE ADDRESS : 18957 CENTER STREET
01 CITY : Castro Valley
STATE/ZIP : CA 94546
MORTGAGE AMOUNT : 238,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,654.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,684.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 70.00000
----------------------------------------------------------------
0 0070288055 MORTGAGORS: PARILLO TIMOTHY
PARILLO LISA
REGION CODE ADDRESS : 5 EAGLE ROCK
01 CITY : Mill Valley
STATE/ZIP : CA 94941
MORTGAGE AMOUNT : 479,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 479,167.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,314.55 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070288253 MORTGAGORS: RIVAS ROY
JOHNSON VICKIE
REGION CODE ADDRESS : 5815 MARSHWELL WAY
01 CITY : San Jose
STATE/ZIP : CA 95138
MORTGAGE AMOUNT : 241,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,840.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,686.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 90.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,896,900.00
P & I AMT: 13,116.02
UPB AMT: 1,895,462.67
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 303
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070288337 MORTGAGORS: WATKINS DANIEL
REGION CODE ADDRESS : 5266 VICKIE DRIVE
01 CITY : San Diego
STATE/ZIP : CA 92109
MORTGAGE AMOUNT : 275,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,852.73 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 74.32000
----------------------------------------------------------------
0 0070288824 MORTGAGORS: KOENIG PATRICIA
KOENIG KENNETH
REGION CODE ADDRESS : 311 JUNE CREEK ROAD
01 CITY : EDWARDS
STATE/ZIP : CO 81632
MORTGAGE AMOUNT : 311,250.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,250.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,249.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/23
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.00000
----------------------------------------------------------------
0 0070288873 MORTGAGORS: SOLOMON SOLOM
SOLOMON INGRID
REGION CODE ADDRESS : 844 S. HAUSER
01 CITY : Los Angeles
STATE/ZIP : CA 90036
MORTGAGE AMOUNT : 278,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 277,788.46 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,920.08 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 67.80000
----------------------------------------------------------------
0 0070288980 MORTGAGORS: MEL CHARLES
MEL MICHELE
REGION CODE ADDRESS : 25639 PACIFIC CIRCLE
01 CITY : Mission Viejo
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 276,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 275,568.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,882.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070289012 MORTGAGORS: KIPERS THOMAS
KIPERS NANCY
REGION CODE ADDRESS : 22695 SWEET MEADOW
01 CITY : Mission Viejo
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 379,461.86 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,722.37 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 69.09000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,520,250.00
P & I AMT: 10,627.73
UPB AMT: 1,519,068.40
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 304
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070289046 MORTGAGORS: CASTRO ROBERT
CASTRO CYNTHIA
REGION CODE ADDRESS : 2384 CANYON CREST
01 CITY : La Verne
STATE/ZIP : CA 91750
MORTGAGE AMOUNT : 328,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,887.58 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,210.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 79.99000
----------------------------------------------------------------
0 0070289202 MORTGAGORS: REITANO RICHARD
REITANO GILDA
REGION CODE ADDRESS : 8231 CALABAR AVE
01 CITY : Playa Del Rey
STATE/ZIP : CA 90293
MORTGAGE AMOUNT : 265,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 264,798.35 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,830.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 70.67000
----------------------------------------------------------------
0 0070289392 MORTGAGORS: WEINER DANA
WEINER SALLY
REGION CODE ADDRESS : 13986 CARRIAGE ROAD
01 CITY : POWAY
STATE/ZIP : CA 92064
MORTGAGE AMOUNT : 247,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 245,894.08 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,705.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 74.84848
----------------------------------------------------------------
0 0070289897 MORTGAGORS: TREASE SCOTT
TREASE LISA
REGION CODE ADDRESS : 114 BONNIEWOOD DRIVE
01 CITY : CARY
STATE/ZIP : NC 27511
MORTGAGE AMOUNT : 234,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 234,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,616.18 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 82.10526
----------------------------------------------------------------
0 0070290507 MORTGAGORS: ISAAC WILLIAM
ISAAC DEBORAH
REGION CODE ADDRESS : 1252 MONTCLAIRE PLACE
01 CITY : SCHAUMBURG
STATE/ZIP : IL 60173
MORTGAGE AMOUNT : 322,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 322,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,227.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.62963
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,396,650.00
P & I AMT: 9,590.68
UPB AMT: 1,395,080.01
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 305
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070290895 MORTGAGORS: GUERRERO GEORGE
GUERRERO VERONICA
REGION CODE ADDRESS : 7384 Hansen Dr
01 CITY : Dublin
STATE/ZIP : CA 94568
MORTGAGE AMOUNT : 230,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 230,619.96 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,574.46 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070291687 MORTGAGORS: SNEED HORACE
SNEED MARTHA
REGION CODE ADDRESS : 640 SOUTH 25TH STREET
01 CITY : ARLINGTON
STATE/ZIP : VA 22202
MORTGAGE AMOUNT : 314,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 314,950.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,175.28 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 74.28066
----------------------------------------------------------------
0 0070292081 MORTGAGORS: REGER JAMES
REGER PAMELA
REGION CODE ADDRESS : 4703 CAMINITO EVA
01 CITY : San Diego
STATE/ZIP : CA 92130
MORTGAGE AMOUNT : 259,150.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,952.81 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,789.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.99000
----------------------------------------------------------------
0 0070293527 MORTGAGORS: GRIESMAN GORDON
PULLEN ELINOR
REGION CODE ADDRESS : 10533 DUNLEER DRIVE
01 CITY : Los Angeles
STATE/ZIP : CA 90064
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 287,786.26 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,013.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 57.60000
----------------------------------------------------------------
0 0070294756 MORTGAGORS: LOVERDE JOHN
NAVARRO LOVE VALERIE
REGION CODE ADDRESS : 11623 TALAUD STREET
01 CITY : CYPRESS
STATE/ZIP : CA 90630
MORTGAGE AMOUNT : 241,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 241,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,763.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/23
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 83.20690
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,334,200.00
P & I AMT: 9,316.97
UPB AMT: 1,333,609.03
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 306
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070294954 MORTGAGORS: VOGEL DAVID
LYNCH KATHLEEN
REGION CODE ADDRESS : 6151 FOXSHIELD DRIVE
01 CITY : HUNTINGTON
STATE/ZIP : CA 92647
MORTGAGE AMOUNT : 298,400.00 OPTION TO CONVERT :
UNPAID BALANCE : 298,400.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,060.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070295019 MORTGAGORS: FAN VICTORIA
REGION CODE ADDRESS : 351 DORANTES AVENUE
01 CITY : SAN FRANCIS
STATE/ZIP : CA 94116
MORTGAGE AMOUNT : 264,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 263,799.12 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,823.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 66.00000
----------------------------------------------------------------
0 0070295209 MORTGAGORS: LOBUE KENNETH
LOBUE NANCY
REGION CODE ADDRESS : 18851 PORTOFINO DRIVE
01 CITY : Irvine
STATE/ZIP : CA 92612
MORTGAGE AMOUNT : 542,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 541,577.19 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,697.40 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 68.18000
----------------------------------------------------------------
0 0070295290 MORTGAGORS: MACCHIONE JOHN
CARTER-MACCHIONE VERONICA
REGION CODE ADDRESS : 6 MATHESON ROAD
01 CITY : Whitehouse Station
STATE/ZIP : NJ 08889
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,828.23 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 89.63000
----------------------------------------------------------------
0 0070295373 MORTGAGORS: RISDON RONALD
WILTON JANE
REGION CODE ADDRESS : 490 WEST END AVENUE UNIT 8E
01 CITY : New York
STATE/ZIP : NY 10024
MORTGAGE AMOUNT : 337,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 337,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,327.58 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 48.84000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,709,400.00
P & I AMT: 11,737.56
UPB AMT: 1,708,776.31
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 307
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070295522 MORTGAGORS: FAULKNER KAREN
REGION CODE ADDRESS : 179 ORCHARD OAK CIRCLE
01 CITY : Campbell
STATE/ZIP : CA 95008
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 303,785.44 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,177.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070296082 MORTGAGORS: BUONANOMA DENNIS
BUONANOMA CAROL
REGION CODE ADDRESS : 9550 PASSA TEMPO DRIVE
01 CITY : RENO
STATE/ZIP : NV 89511
MORTGAGE AMOUNT : 255,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,763.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 67.18421
----------------------------------------------------------------
0 0070297049 MORTGAGORS: MILLER DOUGLAS
MILLER KATHRYN
REGION CODE ADDRESS : 2335 PASEO DORADO
01 CITY : San Diego
STATE/ZIP : CA 92037
MORTGAGE AMOUNT : 645,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 644,538.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,513.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 07/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 69.41000
----------------------------------------------------------------
0 0070297098 MORTGAGORS: FIOLA ROGER
FIOLA LANEY
REGION CODE ADDRESS : 32742 COPPERCREST DRIVE
01 CITY : Trabuco Canyon
STATE/ZIP : CA 92679
MORTGAGE AMOUNT : 328,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 327,750.42 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,265.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070297122 MORTGAGORS: BALAIS LESLIE
REGION CODE ADDRESS : 2365 BRAEBURN ROAD
01 CITY : ALTADENA
STATE/ZIP : CA 91001
MORTGAGE AMOUNT : 254,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 253,825.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,841.68 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 79.38000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,786,800.00
P & I AMT: 12,561.70
UPB AMT: 1,785,199.96
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 308
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070297320 MORTGAGORS: PRESS DONOVAN
PRESS MA
REGION CODE ADDRESS : 7843 TOLAND AVENUE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90045
MORTGAGE AMOUNT : 238,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,649.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 88.44444
----------------------------------------------------------------
0 0070297775 MORTGAGORS: WALSH AMY
WALKER WILLIAM
REGION CODE ADDRESS : 147 CONGRESS STREET
01 CITY : Brooklyn
STATE/ZIP : NY 11201
MORTGAGE AMOUNT : 320,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 320,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,210.16 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 76.92000
----------------------------------------------------------------
0 0070298658 MORTGAGORS: OLSON LESLIE
ZEMANEK MARTIN
REGION CODE ADDRESS : 8633 Glen Arbor Rd.
01 CITY : Ben Lomond
STATE/ZIP : CA 95005
MORTGAGE AMOUNT : 238,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,313.95 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,626.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 76.32000
----------------------------------------------------------------
0 0070298732 MORTGAGORS: FREEMAN SIDNEY
REGION CODE ADDRESS : 9812 WEXFORD CIRCLE
01 CITY : Granite Bay
STATE/ZIP : CA 95746
MORTGAGE AMOUNT : 640,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 639,536.79 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,529.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 68.01000
----------------------------------------------------------------
0 0070298823 MORTGAGORS: ROLPH GARY
ROLPH DEBORAH
REGION CODE ADDRESS : 692 PADDOCK CIRCLE
01 CITY : WEST CHESTE
STATE/ZIP : PA 19382
MORTGAGE AMOUNT : 360,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 360,300.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,488.50 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.06250
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,797,600.00
P & I AMT: 12,504.86
UPB AMT: 1,796,950.74
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 309
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070299136 MORTGAGORS: ELLIS RUSSELL
ELLIS MICHELE
REGION CODE ADDRESS : 1585 SANDALWOOD DRIVE
01 CITY : BREA
STATE/ZIP : CA 92621
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,811.30 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,712.87 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070299631 MORTGAGORS: HUMBLE GEOFFREY
HUMBLE SUSAN
REGION CODE ADDRESS : 10843 EGRET COURT
01 CITY : CHESTERFIEL
STATE/ZIP : VA 23838
MORTGAGE AMOUNT : 240,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 240,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,661.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 77.08333
----------------------------------------------------------------
0 0070300066 MORTGAGORS: WOLFF ROBERT
WOLFF LORI
REGION CODE ADDRESS : 378 SUNNYSLOPE DRIVE
01 CITY : Fremont
STATE/ZIP : CA 94536
MORTGAGE AMOUNT : 266,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 265,792.49 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,814.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070300090 MORTGAGORS: FLORES JOSE
FLORES JOSEFINA
REGION CODE ADDRESS : 26622 BRANDON
01 CITY : MISSION VIE
STATE/ZIP : CA 92692
MORTGAGE AMOUNT : 241,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,955.22 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,923.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/18
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.03030
----------------------------------------------------------------
0 0070300470 MORTGAGORS: MC CLUNG JEFFREY
MC CLUNG CAROLYN
REGION CODE ADDRESS : 480 LIVORNA ROAD
01 CITY : Alamo
STATE/ZIP : CA 94507
MORTGAGE AMOUNT : 525,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 524,580.17 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,537.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 37.50000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,520,500.00
P & I AMT: 10,648.65
UPB AMT: 1,517,639.18
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 310
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070300637 MORTGAGORS: KOCH HOWARD
HUGHES AMY
REGION CODE ADDRESS : 1114 CAROLYN AVENUE
01 CITY : SAN JOSE
STATE/ZIP : CA 95125
MORTGAGE AMOUNT : 389,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 389,900.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,659.81 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 62.88710
----------------------------------------------------------------
0 0070300652 MORTGAGORS: STROE MARA
REGION CODE ADDRESS : 620 N. ARDEN DRIVE
01 CITY : Beverly Hills
STATE/ZIP : CA 90210
MORTGAGE AMOUNT : 461,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 460,657.87 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,223.38 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 25.61000
----------------------------------------------------------------
0 0070300785 MORTGAGORS: REBEK JULIUS
TADAYONI-REBEK MITRA
REGION CODE ADDRESS : 2330 CALLE DEL ORO
01 CITY : La Jolla
STATE/ZIP : CA 92037
MORTGAGE AMOUNT : 600,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 599,565.74 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,246.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 37.50000
----------------------------------------------------------------
0 0070300959 MORTGAGORS: SEATON DAVID
SEATON CAROLYN
REGION CODE ADDRESS : 1134 1ST STREET
01 CITY : Hermosa Beach
STATE/ZIP : CA 90254
MORTGAGE AMOUNT : 327,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 326,938.34 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,204.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070301072 MORTGAGORS: WHEELER BOYD
ESKANDER-WHEELER TRACY
REGION CODE ADDRESS : 23823 KENSINGTON COURT
01 CITY : LOS ANGELES
STATE/ZIP : CA 91307
MORTGAGE AMOUNT : 389,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 388,880.97 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,589.36 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.92000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 2,167,300.00
P & I AMT: 14,923.72
UPB AMT: 2,165,942.92
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 311
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070302591 MORTGAGORS: JACOBS DAVID
JACOBS STACY
REGION CODE ADDRESS : 94 PERCHERON LANE
01 CITY : ROSLYN HEIG
STATE/ZIP : NY 11577
MORTGAGE AMOUNT : 420,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 420,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,865.14 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070302690 MORTGAGORS: BROWN ANTHONY
REGION CODE ADDRESS : 18 CIRCLE HILL
01 CITY : Laguna Niguel
STATE/ZIP : CA 92677
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 311,750.50 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,102.00 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070302963 MORTGAGORS: AHMED IRSHAD
KHAN SABIHA
REGION CODE ADDRESS : 13325 BENCHLEY ROAD
01 CITY : San Diego
STATE/ZIP : CA 92130
MORTGAGE AMOUNT : 267,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 267,306.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,893.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 74.72000
----------------------------------------------------------------
0 0070302971 MORTGAGORS: DEFRANCESCA PETER
DEFRANCESCA KATHLEEN
REGION CODE ADDRESS : 510 PACIFIC AVENUE
01 CITY : Solana Beach
STATE/ZIP : CA 92075
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,771.72 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,072.03 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 56.60000
----------------------------------------------------------------
0 0070303425 MORTGAGORS: BOISSON JUDIE
REGION CODE ADDRESS : 55 POST CROSSING
01 CITY : SOUTHAMPTON
STATE/ZIP : NY 11968
MORTGAGE AMOUNT : 487,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 487,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,446.96 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 64.93000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,786,500.00
P & I AMT: 12,379.48
UPB AMT: 1,785,828.61
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 312
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070303516 MORTGAGORS: WEISMAN CHRISTIAN
WEISMAN JEAN
REGION CODE ADDRESS : 8363 AVELEY MANOR LANE
01 CITY : EASTON
STATE/ZIP : MD 21601
MORTGAGE AMOUNT : 317,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 317,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,165.91 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.43902
----------------------------------------------------------------
0 0070303714 MORTGAGORS: FORD ALEXANDER
REGION CODE ADDRESS : 8855 SKYLINE DRIVE
01 CITY : Los Angeles
STATE/ZIP : CA 90046
MORTGAGE AMOUNT : 465,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 464,654.90 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,251.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 73.23000
----------------------------------------------------------------
0 0070303748 MORTGAGORS: HURDER JOHN
HURDER GEORGIA
REGION CODE ADDRESS : 11145 SUNRISE RIDGE CIRCLE
01 CITY : AUBURN
STATE/ZIP : CA 95602
MORTGAGE AMOUNT : 282,300.00 OPTION TO CONVERT :
UNPAID BALANCE : 282,079.78 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,925.78 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 87.94393
----------------------------------------------------------------
0 0070304340 MORTGAGORS: SHERIDAN DENNIS
SHERIDAN MARY
REGION CODE ADDRESS : 31 SEVENTH STREET
01 CITY : GARDEN CITY PARK
STATE/ZIP : NY 11040
MORTGAGE AMOUNT : 285,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 285,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,944.20 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.03000
----------------------------------------------------------------
0 0070304720 MORTGAGORS: LOWRIE VALI
REGION CODE ADDRESS : 16616 CALLE JERMAINE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90272
MORTGAGE AMOUNT : 604,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 603,528.83 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,120.34 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 67.11000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,953,800.00
P & I AMT: 13,407.58
UPB AMT: 1,952,763.51
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 313
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070305503 MORTGAGORS: KALE AMOD
KALE SHILPA
REGION CODE ADDRESS : 86 PIAZZA WAY
01 CITY : San Jose
STATE/ZIP : CA 95127
MORTGAGE AMOUNT : 281,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 281,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,988.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 73.95000
----------------------------------------------------------------
0 0070306675 MORTGAGORS: BERNER GERALD
BERNER JOHNNIE
REGION CODE ADDRESS : 13652 COYOTE VISTA WAY
01 CITY : JAMUL
STATE/ZIP : CA 91935
MORTGAGE AMOUNT : 230,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 230,100.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,589.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 74.95114
----------------------------------------------------------------
0 0070307442 MORTGAGORS: WAKANA TAKAHIKO
WAKANA NATSUE
REGION CODE ADDRESS : 23104 LOS CODONA AVENUE
01 CITY : TORRANCE
STATE/ZIP : CA 90504
MORTGAGE AMOUNT : 390,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 389,931.77 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,666.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 75.18269
----------------------------------------------------------------
0 0070307707 MORTGAGORS: KYLE DANNY
KYLE LANIE
REGION CODE ADDRESS : 2761 WEST WINDSOR AVENUE
01 CITY : CHICAGO
STATE/ZIP : IL 60625
MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 248,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,670.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 61.23457
----------------------------------------------------------------
0 0070308630 MORTGAGORS: DRIVER DANIEL
DRIVER MARY
REGION CODE ADDRESS : 3815 SALEM CHURCH ROAD
01 CITY : JARRETTSVIL
STATE/ZIP : MD 21084
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,642.32 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 69.63788
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,400,050.00
P & I AMT: 9,558.25
UPB AMT: 1,399,031.77
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 314
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070308747 MORTGAGORS: BOSCO JOHN
JONKER-CIERI AMANDA
REGION CODE ADDRESS : 1527 REDDING PARK LANE
01 CITY : Campbell
STATE/ZIP : CA 95008
MORTGAGE AMOUNT : 280,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,792.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,957.80 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070308887 MORTGAGORS: GILBERT MARGARET
REGION CODE ADDRESS : 282 NEPTUNE AVENUE
01 CITY : Encinitas
STATE/ZIP : CA 92024
MORTGAGE AMOUNT : 399,950.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,653.18 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,796.51 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 67.79000
----------------------------------------------------------------
0 0070309000 MORTGAGORS: FELMLEY JAMES
FELMLEY ANN
REGION CODE ADDRESS : 27 ROSMINI LANE
01 CITY : MONROE
STATE/ZIP : NY 10950
MORTGAGE AMOUNT : 243,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 243,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,618.02 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070309158 MORTGAGORS: CARTER MICHAEL
CRAVALHO CARTER LISA
REGION CODE ADDRESS : 9949 MANGOS DRIVE
01 CITY : San Ramon
STATE/ZIP : CA 94583
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,095.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 77.89000
----------------------------------------------------------------
0 0070309166 MORTGAGORS: STENBERG ERIC
REGION CODE ADDRESS : 105 HENNING COURT
01 CITY : Los Gatos
STATE/ZIP : CA 95030
MORTGAGE AMOUNT : 232,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 232,850.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,668.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.75000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.75000 PRODUCT CODE : 002
LTV : 56.79000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,452,000.00
P & I AMT: 10,135.57
UPB AMT: 1,451,495.38
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 315
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070309281 MORTGAGORS: HAVER KENAN
WANG LINDA
REGION CODE ADDRESS : 19 SHEFFIELD ROAD
01 CITY : NEWTON
STATE/ZIP : MA 02160
MORTGAGE AMOUNT : 505,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 505,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,444.99 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 71.94000
----------------------------------------------------------------
0 0070309307 MORTGAGORS: ZOHN SARA
REGION CODE ADDRESS : 47 LAUREL AVENUE
01 CITY : Wellesley
STATE/ZIP : MA 02181
MORTGAGE AMOUNT : 375,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 375,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,595.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.01000
----------------------------------------------------------------
0 0070309349 MORTGAGORS: ROGERS JOHN
ROGERS CARRIE
REGION CODE ADDRESS : 12 VLIET DRIVE
01 CITY : BELLE MEAD
STATE/ZIP : NJ 08502
MORTGAGE AMOUNT : 257,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 257,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,754.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.93939
----------------------------------------------------------------
0 0070310610 MORTGAGORS: SHAFF EDMUND
SHAFF CARLENE
REGION CODE ADDRESS : 5945 3 4 GRACIOSA DRIVE
01 CITY : LOS ANGELES
STATE/ZIP : CA 90068
MORTGAGE AMOUNT : 299,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 299,666.05 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,045.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 66.64444
----------------------------------------------------------------
0 0070311980 MORTGAGORS: PENDHARKAR VIVEK
PENDHARKAR GAURI
REGION CODE ADDRESS : 1365 SUNRISE COURT
01 CITY : Los Altos
STATE/ZIP : CA 94024
MORTGAGE AMOUNT : 498,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 497,611.51 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,397.24 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 56.59000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,935,900.00
P & I AMT: 13,238.20
UPB AMT: 1,935,277.56
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 316
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070312020 MORTGAGORS: RUNDLE GARY
RUNDLE PRISCILLA
REGION CODE ADDRESS : 528 VIA SORRENTO
01 CITY : Morgan Hill
STATE/ZIP : CA 95037
MORTGAGE AMOUNT : 239,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 238,822.63 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,671.12 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 58.29000
----------------------------------------------------------------
0 0070313390 MORTGAGORS: DENTE RONALD
DENTE GAIL
REGION CODE ADDRESS : 218 SUMMIT ROAD
01 CITY : MOUNT LAURE
STATE/ZIP : NJ 08054
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 308,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,101.10 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.00000
----------------------------------------------------------------
0 0070313952 MORTGAGORS: LASTING RICHARD
JACKS AMY
REGION CODE ADDRESS : 1400 NORTH SPAULDING AVENUE
01 CITY : Los Angeles
STATE/ZIP : CA 90046
MORTGAGE AMOUNT : 348,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 348,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,553.50 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070314042 MORTGAGORS: DALEY DOUGLAS
DALEY SUSAN
REGION CODE ADDRESS : 10128 219TH PLACE
01 CITY : REDMOND
STATE/ZIP : WA 98053
MORTGAGE AMOUNT : 250,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 250,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,705.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 43.85965
----------------------------------------------------------------
0 0070314562 MORTGAGORS: AQUINO RODOLFO
AQUINO MAUREEN
REGION CODE ADDRESS : 774 NEWBURY WAY
01 CITY : Diamond Bar
STATE/ZIP : CA 91765
MORTGAGE AMOUNT : 258,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 258,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,803.97 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.38000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,403,000.00
P & I AMT: 9,835.13
UPB AMT: 1,402,822.63
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 317
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070314752 MORTGAGORS: LINDER GARY
LINDER BARBARA
REGION CODE ADDRESS : 16 FOXRIDGE RD.
01 CITY : Armonk
STATE/ZIP : NY 10504
MORTGAGE AMOUNT : 330,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 330,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,113.03 OUTSIDE CONV DATE :
LIFETIME RATE : 6.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.62500 PRODUCT CODE : 002
LTV : 78.57000
----------------------------------------------------------------
0 0070314778 MORTGAGORS: KARSON GIL
KARSON LISA
REGION CODE ADDRESS : 429-435 GREENWICH ST 7B
01 CITY : New York
STATE/ZIP : NY 10013
MORTGAGE AMOUNT : 499,900.00 OPTION TO CONVERT :
UNPAID BALANCE : 499,900.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,452.69 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 52.07000
----------------------------------------------------------------
0 0070314851 MORTGAGORS: ENSTROM LARS
ENSTROM KELLIE
REGION CODE ADDRESS : 14 Witches lane
01 CITY : middletown
STATE/ZIP : NJ 07732
MORTGAGE AMOUNT : 410,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 410,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,762.25 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070314885 MORTGAGORS: MILLER MELVIN
REGION CODE ADDRESS : 150 WEST 79TH ST #9A
01 CITY : New York
STATE/ZIP : NY 10024
MORTGAGE AMOUNT : 283,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 283,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,954.61 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 78.61000
----------------------------------------------------------------
0 0070314950 MORTGAGORS: GREEN LAURENCE
GREEN NORENE
REGION CODE ADDRESS : 26 LONG POND
01 CITY : NANTUCKET
STATE/ZIP : MA 02554
MORTGAGE AMOUNT : 325,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 325,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,217.07 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 59.09000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,847,900.00
P & I AMT: 12,499.65
UPB AMT: 1,847,900.00
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 318
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070315122 MORTGAGORS: BRAVERMAN ROBERT
BRAVERMAN SHARON
REGION CODE ADDRESS : 17039 EAST NICKLAUS DRIVE
01 CITY : FOUNTAIN HI
STATE/ZIP : AZ 85268
MORTGAGE AMOUNT : 300,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 300,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,046.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 78.94737
----------------------------------------------------------------
0 0070315171 MORTGAGORS: KASSEL JONATHAN
KASSEL GLENN
REGION CODE ADDRESS : 3627 PATRICK HENRY PLACE
01 CITY : Agoura Hills
STATE/ZIP : CA 91301
MORTGAGE AMOUNT : 364,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 363,723.02 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,514.06 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070316427 MORTGAGORS: MALAM LAWRENCE
WILSON-MALAM TERESA
REGION CODE ADDRESS : 105A SLOUGH ROAD
01 CITY : HARVARD
STATE/ZIP : MA 01451
MORTGAGE AMOUNT : 236,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,700.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,675.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 52.72000
----------------------------------------------------------------
0 0070316849 MORTGAGORS: DRIGGERS GLENN
MORRISON-DRIGGERS LORRAINE
REGION CODE ADDRESS : 5122 S. WEST KNOLL DRIVE
01 CITY : Yorba Linda
STATE/ZIP : CA 92886
MORTGAGE AMOUNT : 236,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 236,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,633.45 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.91000
----------------------------------------------------------------
0 0070317227 MORTGAGORS: ROSENTHAL ANN
REGION CODE ADDRESS : 5512 CHARLCOTE ROAD
01 CITY : BETHESDA
STATE/ZIP : MD 20817
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,851.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,405,200.00
P & I AMT: 9,720.40
UPB AMT: 1,404,923.02
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 319
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070317458 MORTGAGORS: SHAW DAVID
SHAW JOANNE
REGION CODE ADDRESS : 7894 CALDWELL COURT
01 CITY : CASTRO VALL
STATE/ZIP : CA 94552
MORTGAGE AMOUNT : 316,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 316,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,182.53 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 72.64368
----------------------------------------------------------------
0 0070317862 MORTGAGORS: PHILLIPS DAJA
REGION CODE ADDRESS : 130 PACCHETTI WAY
01 CITY : Mountain View
STATE/ZIP : CA 94040
MORTGAGE AMOUNT : 350,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 350,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,328.56 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 74.47000
----------------------------------------------------------------
0 0070320791 MORTGAGORS: FAYARD ALAN
FAYARD LYNN
REGION CODE ADDRESS : 5035 MAGNOLIA BLUFF DRIVE
01 CITY : ATLANTA
STATE/ZIP : GA 30350
MORTGAGE AMOUNT : 237,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 237,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,636.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.00000
----------------------------------------------------------------
0 0070320882 MORTGAGORS: BRODSKY WILLIAM
BRODSKY JUDITH
REGION CODE ADDRESS : 1375 SOUTH FINLEY POINT
01 CITY : POLSON
STATE/ZIP : MT 59860
MORTGAGE AMOUNT : 316,600.00 OPTION TO CONVERT :
UNPAID BALANCE : 316,600.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,159.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 74.84634
----------------------------------------------------------------
0 0070326228 MORTGAGORS: FLAMM ILISSA
BERNARD MAURICE
REGION CODE ADDRESS : 7111 PYLE ROAD
01 CITY : BETHESDA
STATE/ZIP : MD 20817
MORTGAGE AMOUNT : 365,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 365,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,428.35 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 73.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,584,600.00
P & I AMT: 10,736.11
UPB AMT: 1,584,600.00
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 320
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070326558 MORTGAGORS: LANGAN MICHAEL
LANGAN EVA LYNN
REGION CODE ADDRESS : 93 ELEVEN LEVELS R
01 CITY : RIDGEFIELD
STATE/ZIP : CT 06877
MORTGAGE AMOUNT : 312,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 312,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,128.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 68.72247
----------------------------------------------------------------
0 0070326665 MORTGAGORS: MCCOY DALE
MCCOY SUSAN
REGION CODE ADDRESS : 2865 BRISTOL ROAD
01 CITY : KENWOOD
STATE/ZIP : CA 95452
MORTGAGE AMOUNT : 532,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 532,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,542.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 64.54545
----------------------------------------------------------------
0 0070327374 MORTGAGORS: DIMKA TERRY
DIMKA BEVERLY
REGION CODE ADDRESS : 701 CHICKAMAUGA DRIVE
01 CITY : DAVIDSONVIL
STATE/ZIP : MD 21035
MORTGAGE AMOUNT : 340,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 340,500.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,351.75 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 72.46223
----------------------------------------------------------------
0 0070327739 MORTGAGORS: KLEIN CHARLES
KLEIN BONNIE
REGION CODE ADDRESS : 600 COON HOLLOW ROAD
01 CITY : DURHAM TOWN
STATE/ZIP : PA 18039
MORTGAGE AMOUNT : 345,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 345,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,295.29 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 58.97436
----------------------------------------------------------------
0 0070328877 MORTGAGORS: KREKORIAN LISA
NELSON JOHN
REGION CODE ADDRESS : 518 SOUTH EL DORADO STREET
01 CITY : SAN MATEO
STATE/ZIP : CA 94402
MORTGAGE AMOUNT : 235,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 235,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,603.11 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 67.14286
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,765,000.00
P & I AMT: 11,921.28
UPB AMT: 1,765,000.00
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 321
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070330196 MORTGAGORS: CLEARY DAVID
REGION CODE ADDRESS : 6186 SOLEDAD MOUNTAIN ROAD
01 CITY : LA JOLLA
STATE/ZIP : CA 92037
MORTGAGE AMOUNT : 416,700.00 OPTION TO CONVERT :
UNPAID BALANCE : 416,382.93 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,878.04 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 49.31361
----------------------------------------------------------------
0 0070330311 MORTGAGORS: NEELY G
NEELY DEBORAH
REGION CODE ADDRESS : 4777 LONDON DRIVE
01 CITY : SAN JOSE
STATE/ZIP : CA 95008
MORTGAGE AMOUNT : 256,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 256,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,768.13 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 75.73964
----------------------------------------------------------------
0 0070332036 MORTGAGORS: CONTINETTI JOSEPH
CONTINETTI CATHY
REGION CODE ADDRESS : 7902 SCOTT COURT
01 CITY : SPRINGFIELD
STATE/ZIP : VA 22153
MORTGAGE AMOUNT : 255,200.00 OPTION TO CONVERT :
UNPAID BALANCE : 255,200.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,762.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 73.33333
----------------------------------------------------------------
0 0070336250 MORTGAGORS: PTACHIK ROBERT
PTACHIK ABBY
REGION CODE ADDRESS : 105 ROBBINS DRIVE
01 CITY : East Williston
STATE/ZIP : NY 11596
MORTGAGE AMOUNT : 410,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 410,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,693.41 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 63.57000
----------------------------------------------------------------
0 0070336383 MORTGAGORS: TRAN ANDREW
LUI ELIZABETH
REGION CODE ADDRESS : 6347 LONGMONT AVENUE
01 CITY : San Gabriel
STATE/ZIP : CA 91775
MORTGAGE AMOUNT : 268,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 268,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,896.89 OUTSIDE CONV DATE :
LIFETIME RATE : 7.62500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.62500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,605,900.00
P & I AMT: 10,999.07
UPB AMT: 1,605,582.93
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 322
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070339007 MORTGAGORS: HASHEMPOUR DARR
HASHEMPOUR FERI
REGION CODE ADDRESS : 18 SANTA TERESA
01 CITY : Rancho Santa Margari
STATE/ZIP : CA 92688
MORTGAGE AMOUNT : 233,750.00 OPTION TO CONVERT :
UNPAID BALANCE : 233,576.53 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,634.41 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 85.00000
----------------------------------------------------------------
0 0070339254 MORTGAGORS: HEISSEL JEFFREY
HEISSEL LAURA
REGION CODE ADDRESS : 1102 EAST WAVERLY DRIVE
01 CITY : Arlington Heights
STATE/ZIP : IL 60004
MORTGAGE AMOUNT : 252,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 252,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,697.77 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 72.00000
----------------------------------------------------------------
0 0070339452 MORTGAGORS: YU SHAN
HOLLOMAN DAVE
REGION CODE ADDRESS : 2924 PARK PLACE
01 CITY : Evanston
STATE/ZIP : IL 60201
MORTGAGE AMOUNT : 329,800.00 OPTION TO CONVERT :
UNPAID BALANCE : 329,800.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,194.17 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 89.99000
----------------------------------------------------------------
0 0070339791 MORTGAGORS: BHARGAVA ROHIT
RICHTER-BHARGAV SIGRID
REGION CODE ADDRESS : 133 HAMPSHIRE ROAD
01 CITY : Wellesley
STATE/ZIP : MA 02181
MORTGAGE AMOUNT : 500,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 500,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,410.88 OUTSIDE CONV DATE :
LIFETIME RATE : 7.25000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.25000 PRODUCT CODE : 002
LTV : 77.22000
----------------------------------------------------------------
0 0070340245 MORTGAGORS: LIPPERT TIMOTHY
LIPPERT JONI
REGION CODE ADDRESS : 1332 CEDAR STREET
01 CITY : SAN CARLOS
STATE/ZIP : CA 94070
MORTGAGE AMOUNT : 361,100.00 OPTION TO CONVERT :
UNPAID BALANCE : 361,100.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,581.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/23
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 72.22000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,676,650.00
P & I AMT: 11,518.28
UPB AMT: 1,676,476.53
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 323
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070344817 MORTGAGORS: GILLIS STEPHEN
GILLIS JOANN
REGION CODE ADDRESS : 1788 VERDITE ST
01 CITY : Livermore
STATE/ZIP : CA 94550
MORTGAGE AMOUNT : 366,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 365,699.99 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,435.01 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 74.69000
----------------------------------------------------------------
0 0070345137 MORTGAGORS: ARNOLD JOHN
HELMAN JANET
REGION CODE ADDRESS : 16836 CAMINO LAGO DE CRISTAL
01 CITY : Rancho Santa Fe
STATE/ZIP : CA 92067
MORTGAGE AMOUNT : 588,500.00 OPTION TO CONVERT :
UNPAID BALANCE : 588,052.20 ANNUAL RATE ADJUST:
MONTHLY P&I : 4,064.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 67.64000
----------------------------------------------------------------
0 0070346168 MORTGAGORS: LORENZ TIMOTHY
LORENZ DEBRA
REGION CODE ADDRESS : 2864 NE 25TH COURT
01 CITY : FORT LAUDER
STATE/ZIP : FL 33305
MORTGAGE AMOUNT : 287,300.10 OPTION TO CONVERT :
UNPAID BALANCE : 287,300.10 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,935.59 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 82.08574
----------------------------------------------------------------
0 0070346283 MORTGAGORS: QUEEN MICHAEL
QUEEN ELIZABETH
REGION CODE ADDRESS : 313 BOOTH STREET
01 CITY : Gaithersburg
STATE/ZIP : MD 20878
MORTGAGE AMOUNT : 247,650.00 OPTION TO CONVERT :
UNPAID BALANCE : 247,650.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,647.62 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 79.99000
----------------------------------------------------------------
0 0070347836 MORTGAGORS: ALLEN SCOTT
ALLEN BRENDA
REGION CODE ADDRESS : 3523 TWIN LAKE RIDGE
01 CITY : Westlake Village
STATE/ZIP : CA 91361
MORTGAGE AMOUNT : 493,850.00 OPTION TO CONVERT :
UNPAID BALANCE : 493,850.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,285.60 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 66.29000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,983,300.10
P & I AMT: 13,368.44
UPB AMT: 1,982,552.29
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 324
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070349121 MORTGAGORS: Kalunian Jeffrey
Kalunian Shannon
REGION CODE ADDRESS : 202 XIMENO AVE
01 CITY : Long Beach
STATE/ZIP : CA 90803
MORTGAGE AMOUNT : 420,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 419,638.39 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,724.11 OUTSIDE CONV DATE :
LIFETIME RATE : 6.75000 MATURITY DATE : 08/01/28
CURRENT INT RATE: 6.75000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070352968 MORTGAGORS: B.WALLACE RICHARD
WALLACE DIANE
REGION CODE ADDRESS : 17 FITZGERALD LANE
01 CITY : Southborough
STATE/ZIP : MA 01772
MORTGAGE AMOUNT : 339,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 339,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,341.39 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.95000
----------------------------------------------------------------
0 0070353271 MORTGAGORS: WATKINS MICHAEL
WATKINS DEBRA
REGION CODE ADDRESS : 18376 SERRANO AVE
01 CITY : Villa Park
STATE/ZIP : CA 92861
MORTGAGE AMOUNT : 360,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 360,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,486.43 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 69.90000
----------------------------------------------------------------
0 0070360516 MORTGAGORS: MELLAMED MORRIS
REGION CODE ADDRESS : 1118 3RD STREET
01 CITY : Santa Monica
STATE/ZIP : CA 90403
MORTGAGE AMOUNT : 279,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 279,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,856.19 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 65.65000
----------------------------------------------------------------
0 0070361985 MORTGAGORS: STAILEY STANLEY
STAILEY JANINE
REGION CODE ADDRESS : 391 PARAISO DRIVE
01 CITY : Danville
STATE/ZIP : CA 94526
MORTGAGE AMOUNT : 388,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 388,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,679.82 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 74.62000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,786,000.00
P & I AMT: 12,087.94
UPB AMT: 1,785,638.39
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 325
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070377015 MORTGAGORS: FILIPPI FRED
FILIPPI NOREEN
REGION CODE ADDRESS : 207 TERRAMAR
01 CITY : San Clemente
STATE/ZIP : CA 92673
MORTGAGE AMOUNT : 375,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 375,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,526.44 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 08/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 78.13000
----------------------------------------------------------------
0 0070378187 MORTGAGORS: GOLDEN BLAKE
REGION CODE ADDRESS : 16871 BASTANCHURY ROAD
01 CITY : Yorba Linda
STATE/ZIP : CA 92686
MORTGAGE AMOUNT : 340,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 340,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,494.80 OUTSIDE CONV DATE :
LIFETIME RATE : 8.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 8.00000 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070378260 MORTGAGORS: RAGONETTI LOUIS
RAGONETTI SHARON
REGION CODE ADDRESS : 29000 FIRTHRIDGE ROAD
01 CITY : Rancho Palos Verdes
STATE/ZIP : CA 90275
MORTGAGE AMOUNT : 476,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 476,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,451.33 OUTSIDE CONV DATE :
LIFETIME RATE : 7.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.87500 PRODUCT CODE : 002
LTV : 78.94000
----------------------------------------------------------------
0 0070383393 MORTGAGORS: HONEYCUTT ALAN
HONEYCUTT JANIE
REGION CODE ADDRESS : 20122 HINSDALE AVENUE
01 CITY : Torrance
STATE/ZIP : CA 90503
MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 288,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,013.74 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 82.29000
----------------------------------------------------------------
0 0070384888 MORTGAGORS: PEARDON RICHARD
BRESLER-PEARDON HARRIETT
REGION CODE ADDRESS : 4780 VISTA DE ORO AVENUE
01 CITY : Woodland Hills
STATE/ZIP : CA 91364
MORTGAGE AMOUNT : 395,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 395,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,761.90 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 79.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,874,000.00
P & I AMT: 13,248.21
UPB AMT: 1,874,000.00
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 326
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070385646 MORTGAGORS: WAI CHOI BALDWIN
CHI CHOI PATRICIA
REGION CODE ADDRESS : 10685 GRAPNEL PLACE
01 CITY : Cupertino
STATE/ZIP : CA 95014
MORTGAGE AMOUNT : 452,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 452,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 3,121.85 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 74.71000
----------------------------------------------------------------
0 0070385968 MORTGAGORS: LINDEN MICHAEL
LINDEN JENNIFER
REGION CODE ADDRESS : 404 S CATHERINE
01 CITY : La Grange
STATE/ZIP : IL 60525
MORTGAGE AMOUNT : 338,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 338,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,334.48 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 79.53000
----------------------------------------------------------------
0 0070387188 MORTGAGORS: MORTENSEN STEPHEN
MORTENSEN DAWN
REGION CODE ADDRESS : 3858 HANCOCK DRIVE
01 CITY : Santa Clara
STATE/ZIP : CA 95051
MORTGAGE AMOUNT : 308,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 308,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,023.34 OUTSIDE CONV DATE :
LIFETIME RATE : 6.87500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 6.87500 PRODUCT CODE : 002
LTV : 72.47000
----------------------------------------------------------------
0 0070394663 MORTGAGORS: REINSCH JAMES
REINSCH GAIL
REGION CODE ADDRESS : 1605 HARVEST ROAD
01 CITY : Pleasanton
STATE/ZIP : CA 94566
MORTGAGE AMOUNT : 304,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 304,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,099.65 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070396734 MORTGAGORS: LONG CHRISTOPHER
LONG THERESE
REGION CODE ADDRESS : 116 NOTTINGHAM DRIVE
01 CITY : Alameda
STATE/ZIP : CA 94502
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,994.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 5
LOAN AMT: 1,698,000.00
P & I AMT: 11,573.53
UPB AMT: 1,698,000.00
<PAGE>
1
GECAPITAL MORTGAGE SERVICES, INC. EXHIBIT C
ISSUE DATE: 09/01/98
P.O. BOX 5260 TMS AG0004981430 01 02
PAGE: 327
CHERRY HILL, N.J. 08034
(800) 257-7818
0 ----------------------------------------------------------------
0 0070399332 MORTGAGORS: COHEN ALBERT
REGION CODE ADDRESS : 3301 BARBYDELL DRIVE
01 CITY : Los Angeles
STATE/ZIP : CA 90064
MORTGAGE AMOUNT : 399,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 399,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,755.79 OUTSIDE CONV DATE :
LIFETIME RATE : 7.37500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.37500 PRODUCT CODE : 002
LTV : 59.11000
----------------------------------------------------------------
0 0070399597 MORTGAGORS: RABAN FARAMARZ
RABAN SHIRIN
REGION CODE ADDRESS : 2120 KERWOOD AVE
01 CITY : Los Angeles
STATE/ZIP : CA 90025
MORTGAGE AMOUNT : 335,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 335,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,228.76 OUTSIDE CONV DATE :
LIFETIME RATE : 7.00000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.00000 PRODUCT CODE : 002
LTV : 50.38000
----------------------------------------------------------------
0 0070400783 MORTGAGORS: JOLY LLOYD
JOLY KATHLEEN
REGION CODE ADDRESS : 16672 GRAZ CIRCLE
01 CITY : Huntington Beach
STATE/ZIP : CA 92649
MORTGAGE AMOUNT : 296,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 296,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 1,994.21 OUTSIDE CONV DATE :
LIFETIME RATE : 7.12500 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.12500 PRODUCT CODE : 002
LTV : 80.00000
----------------------------------------------------------------
0 0070407333 MORTGAGORS: VILLAS-BOAS JOAO
VILLAS-BOAS SOFIA
REGION CODE ADDRESS : 2719 STUART STREET
01 CITY : Berkeley
STATE/ZIP : CA 94705
MORTGAGE AMOUNT : 375,000.00 OPTION TO CONVERT :
UNPAID BALANCE : 375,000.00 ANNUAL RATE ADJUST:
MONTHLY P&I : 2,622.05 OUTSIDE CONV DATE :
LIFETIME RATE : 7.50000 MATURITY DATE : 09/01/28
CURRENT INT RATE: 7.50000 PRODUCT CODE : 002
LTV : 76.53000
----------------------------------------------------------------
- - **** PAGE TOTALS ***** NUM OF LOANS: 4
LOAN AMT: 1,405,000.00
P & I AMT: 9,600.81
UPB AMT: 1,405,000.00
0 TOTAL NUM OF LOANS: 1634
LOAN AMT: 526,629,419.23
P & I AMT: 3,633,891.54
UPB AMT: 525,911,631.83
<PAGE>
EXHIBIT D
FORM OF SERVICER'S CERTIFICATE
______________, _______
(month) (year)
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC Multi-Class Pass-Through Certificates,
Series 1998-14
Pursuant to the Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement") between GE Capital
Mortgage Services, Inc. (the "Company"), and State Street Bank
and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the
Determination Date for this month:
A. Mortgage Loan Information:
(1) Aggregate Scheduled Monthly Payments:
(a) Principal $________
(b) Interest $________
(c) Total $________
(2) Aggregate Monthly Payments received
and Monthly Advances made this Month:
(a) Principal $________
(b) Interest $________
(c) Total $________
(3) Aggregate Principal Prepayments in part
received and applied in the applicable
Prepayment Period:
(a) Principal $________
(b) Interest $________
(c) Total $________
(4) Aggregate Principal Prepayments in full
received in the applicable Prepayment
Period:
(a) Principal $________
(b) Interest $________
(c) Total $________
<PAGE>
(5) Aggregate Insurance Proceeds (including
purchases of Mortgage Loans by primary
mortgage insurers) for prior month:
(a) Principal $________
(b) Interest $________
(c) Total $________
(6) Aggregate Liquidation Proceeds for
prior month:
(a) Principal $________
(b) Interest $________
(c) Total $________
(7) Aggregate Purchase Prices for Defaulted
and Modified Mortgage Loans:
(a) Principal $________
(b) Interest $________
(c) Total $________
(8) Aggregate Purchase Prices (and
substitution adjustments) for
Defective Mortgage Loans:
(a) Principal $________
(b) Interest $________
(c) Total $________
(9) Pool Scheduled Principal Balance: $________
(10) Available Funds: $________
(11) Realized Losses for prior month: $________
(12) Aggregate Realized Losses and
Debt Service Reductions:
(a) Deficient Valuations $________
(b) Special Hazard Losses $________
(c) Fraud Losses $________
(d) Excess Bankruptcy Losses $________
(e) Excess Special Hazard Losses $________
(f) Excess Fraud Losses $________
(g) Debt Service Reductions $________
(13) Compensating Interest Payment: $________
2
<PAGE>
(14) Accrued Certificate Interest, Unpaid Class
Interest Shortfalls and Pay-out Rate:
Class A1 $__________ $__________ ____%
Class A2 $__________ $__________ ____%
Class A3 $__________ $__________ ____%
Class A5 $__________ $__________ ____%
Class A6 $__________ $__________ ____%
Class A7 $__________ $__________ ____%
Class A8 $__________ $__________ ____%
Class A9 $__________ $__________ ____%
Class A10 $__________ $__________ ____%
Class A11 $__________ $__________ ____%
Class A12 $__________ $__________ ____%
Class M $__________ $__________ ____%
Class B1 $__________ $__________ ____%
Class B2 $__________ $__________ ____%
Class B3 $__________ $__________ ____%
Class B4 $__________ $__________ ____%
Class B5 $__________ $__________ ____%
Class R $__________ $__________ ____%
Class RL $__________ $__________ ____%
(15) Accrual Amount:
Class A7D Accrual $__________
Class A9 $__________
(16) Principal distributable:
Class A1 $__________
Class A2 $__________
Class A3 $__________
Class A4 $__________
Class A5 $__________
Class A6 $__________
Class A7 $__________
Class A8 $__________
Class A9 $__________
Class A10 $__________
Class A11 $__________
Class A12 $__________
Class PO $__________
Class M $__________
Class B1 $__________
3
<PAGE>
Class B2 $__________
Class B3 $__________
Class B4 $__________
Class B5 $__________
Class R $__________
Class RL $__________
(17) Additional distributions to the Class RL
Certificates pursuant to Sections 2.05(d) and
the Class R Certificates pursuant to Section
4.01(b).
Class RL $__________
Class R $__________
(18) Distributions Allocable to Unanticipated Recoveries:
Class A1 __________
Class A2 __________
Class A3 __________
Class A4 __________
Class A5 __________
Class A6 __________
Class A7 __________
Class A8 __________
Class A9 __________
Class A10 __________
Class A11 __________
Class A12 $__________
Class PO __________
Class M __________
Class B1 __________
Class B2 __________
Class B3 __________
Class B4 __________
Class B5 __________
Class R __________
Class RL __________
B. Other Amounts:
1. Senior Percentage for such Distribution
Date: _____________%
4
<PAGE>
2. Senior Prepayment Percentage for such
Distribution Date: _____________%
3. Junior Percentage for such Distribution
Date: _____________%
4. Junior Prepayment Percentage for such
Distribution Date: _____________%
5. Group II Senior Percentage for such
Distribution Date: _____________%
6. Group II Senior Scheduled Distribution
Percentage for such Distribution Date: _____________%
7. Group II Senior Prepayment Distribution
Percentage for such Distribution Date: _____________%
8. Subordinate Certificate Writedown Amount for
such Distribution Date: $_____________
9. Prepayment Distribution Triggers satisfied: Yes No
--- --
Class B1 _____ _____
Class B2 _____ _____
Class B3 _____ _____
Class B4 _____ _____
Class B5 _____ _____
10. Base Servicing Fee: $___________
11. Supplemental Servicing Fee: $___________
12. Certificate Interest Rate on the Class
A7 Certificates _____________%
Capitalized terms used in this Certificate shall have
the same meanings as in the Agreement.
5
<PAGE>
EXHIBIT E
FORM OF TRANSFER CERTIFICATE AS TO ERISA MATTERS FOR
DEFINITIVE ERISA-RESTRICTED CERTIFICATES
State Street Bank and Trust Company
Corporate Trust Department
225 Franklin Street
Boston, Massachusetts 02110
[NAME OF OFFICER] ______________________ hereby certifies that:
1. That he [she] is [title of officer] ____________________
_______________ of [name of Investor] ___________________________
____________ (the "Investor"), a ________________________________
[description of type of entity] duly organized and existing under
the laws of the [State of ____________] [United States], on
behalf of which he [she] makes this affidavit.
2. The Investor (i) is not, and on ________________ [insert
date of transfer of Certificate to Investor] will not be, and on
such date will not be investing the funds of, an employee benefit
plan subject to the Employee Retirement Income Security Act of
1974, as amended ("ERISA") or a plan subject to Section 4975 of
the Code or (ii) is an insurance company investing assets of its
general account and the exemptions provided by Section III(a) of
Department of Labor Prohibited Transaction Class Exemption 95-60,
60 Fed. Reg. 35925 (July 12, 1995) (the "Exemptions") apply to
the Investor's acquisition and holding or any ERISA-Restricted
Certificate.
3. The Investor hereby acknowledges that under the terms of
the Pooling and Servicing Agreement (the "Agreement") between
State Street Bank and Trust Company, as Trustee and GE Capital
Mortgage Services, Inc., dated as of September 1, 1998, no
transfer of any ERISA-Restricted Certificate shall be permitted
to be made to any person unless the Trustee has received (i) a
certificate from such transferee to the effect that (x) such
transferee is not an employee benefit plan subject to ERISA or a
plan subject to Section 4975 of the Code (a "Plan") and is not
using the assets of any such employee benefit or other plan to
acquire any such Certificate or (y) such transferee is an
insurance company investing assets of its general account and the
Exemptions apply to such transferee's acquisition and holding of
any such Certificate or (ii) an opinion of counsel satisfactory
to the Trustee to the effect that the purchase and holding of any
such Certificate will not constitute or result in the assets of
the Trust Fund created by the Agreement being deemed to be "plan
assets" and subject to the prohibited transaction provisions of
ERISA or Section 4975 of the Code and will not subject the
Trustee or the Company to any obligation in addition to those
undertaken in the Agreement (provided, however, that the Trustee
<PAGE>
will not require such certificate or opinion in the event that,
as a result of change of law or otherwise, counsel satisfactory
to the Trustee has rendered an opinion to the effect that the
purchase and holding of any such Certificate by a Plan or a
Person that is purchasing or holding any such Certificate with
the assets of a Plan will not constitute or result in a
prohibited transaction under ERISA or Section 4975 of the Code).
[4. The ERISA-Restricted Certificates shall be registered
in the name of ______________________________________________ as
nominee for the Investor.] IN WITNESS WHEREOF, the Investor has
caused this instrument to be executed on its behalf, pursuant to
authority of its Board of Directors, by its [title of officer]
__________________ and its corporate seal to be hereunder
attached, attested by its [Assistant] Secretary, this ____ day of
_________, 199_.
__________________________________
[name of Investor]
By:_______________________________
Name:
Title:
The undersigned hereby
acknowledges that it is holding
and will hold the ERISA-Restricted
Certificates at the exclusive
direction of and as nominee of
the Investor named above.
_______________________________
[name of nominee]
By:____________________________
Name:
Title:
2
<PAGE>
EXHIBIT F
FORM OF RESIDUAL CERTIFICATE TRANSFEREE AFFIDAVIT
STATE OF )
)ss.:
COUNTY OF )
[NAME OF OFFICER], _________________ being first duly sworn,
deposes and says:
1. That he [she] is [title of officer] ____________________
of [name of Purchaser] _________________________________________
(the "Purchaser"), a _____________________________________
[description of type of entity] duly organized and existing under
the laws of the [State of __________] [United States], on behalf
of which he [she] makes this affidavit.
2. That the Purchaser's Taxpayer Identification Number is
[ ].
3. That the Purchaser is not a "disqualified organization"
within the meaning of Section 860E(e)(5) of the Internal Revenue
Code of 1986, as amended (the "Code") and will not be a
"disqualified organization" as of [date of transfer], and that
the Purchaser is not acquiring a Residual Certificate (as defined
below) for the account of, or as agent (including a broker,
nominee, or other middleman) for, any person or entity from which
it has not received an affidavit substantially in the form of
this affidavit. For these purposes, a "disqualified organization"
means the United States, any state or political subdivision
thereof, any foreign government, any international organization,
any agency or instrumentality of any of the foregoing (other than
an instrumentality if all of its activities are subject to tax
and a majority of its board of directors is not selected by such
governmental entity), any cooperative organization furnishing
electric energy or providing telephone service to persons in
rural areas as described in Code Section 1381(a)(2)(C), or any
organization (other than a farmers' cooperative described in Code
Section 521) that is exempt from federal income tax unless such
organization is subject to the tax on unrelated business income
imposed by Code Section 511. As used herein, "Residual
Certificate" means any Certificate designated as a "Class R
Certificate" or "Class RL Certificate" of GE Capital Mortgage
Services, Inc.'s REMIC Multi-Class Pass-Through Certificates,
Series 1998-14.
4. That the Purchaser is not, and on __________ [insert
date of transfer of Residual Certificate to Purchaser] will not
be, and is not and on such date will not be investing the assets
of, an employee benefit plan subject to the Employee Retirement
Income Security Act of 1974, as amended ("ERISA"), or a plan
subject to Code Section 4975 or a person or entity that is using
the assets of any employee benefit plan or other plan to acquire
a Residual Certificate.
<PAGE>
5. That the Purchaser hereby acknowledges that under the
terms of the Pooling and Servicing Agreement (the "Agreement")
between State Street Bank and Trust Company, as Trustee, and GE
Capital Mortgage Services, Inc., dated as of September 1, 1998,
no transfer of the Residual Certificates shall be permitted to be
made to any person unless the Trustee has received a certificate
from such transferee to the effect that such transferee is not an
employee benefit plan subject to ERISA or a plan subject to
Section 4975 of the Code and is not using the assets of any
employee benefit plan or other plan to acquire Residual
Certificates.
6. That the Purchaser does not hold REMIC residual
securities as nominee to facilitate the clearance and settlement
of such securities through electronic book-entry changes in
accounts of participating organizations (such entity, a
"Book-Entry Nominee").
7. That the Purchaser does not have the intention to impede
the assessment or collection of any federal, state or local taxes
legally required to be paid with respect to such Residual
Certificate.
8. That the Purchaser will not transfer a Residual
Certificate to any person or entity (i) as to which the Purchaser
has actual knowledge that the requirements set forth in paragraph
3, paragraph 6 or paragraph 10 hereof are not satisfied or that
the Purchaser has reason to believe does not satisfy the
requirements set forth in paragraph 7 hereof, and (ii) without
obtaining from the prospective Purchaser an affidavit
substantially in this form and providing to the Trustee a written
statement substantially in the form of Exhibit G to the
Agreement.
9. That the Purchaser understands that, as the holder of a
Residual Certificate, the Purchaser may incur tax liabilities in
excess of any cash flows generated by the interest and that it
intends to pay taxes associated with holding such Residual
Certificate as they become due.
10. That the Purchaser (i) is not a Non-U.S. Person or (ii)
is a Non-U.S. Person that holds a Residual Certificate in
connection with the conduct of a trade or business within the
United States and has furnished the transferor and the Trustee
with an effective Internal Revenue Service Form 4224 or successor
form at the time and in the manner required by the Code or (iii)
is a Non-U.S. Person that has delivered to both the transferor
and the Trustee an opinion of a nationally recognized tax counsel
to the effect that the transfer of such Residual Certificate to
it is in accordance with the requirements of the Code and the
regulations promulgated thereunder and that such transfer of a
Residual Certificate will not be disregarded for federal income
tax purposes. "Non-U.S. Person" means an individual, corporation,
partnership or other person other than a citizen or resident of
the United States, a corporation, partnership or other entity
created or organized in or under the laws of the United States or
any political subdivision thereof, or an estate or trust that is
subject to U.S. federal income tax regardless of the source of
its income.
11. That the Purchaser agrees to such amendments of the
Pooling and Servicing Agreement as may be required to further
effectuate the restrictions on transfer of any Residual
2
<PAGE>
Certificate to such a "disqualified organization," an agent
thereof, a Book-Entry Nominee, or a person that does not satisfy
the requirements of paragraph 7 and paragraph 10 hereof.
12. That the Purchaser consents to the designation of the
Company as its agent to act as "tax matters person" of the Upper
Tier REMIC or Lower Tier REMIC, as applicable, pursuant to the
Pooling and Servicing Agreement.
3
<PAGE>
IN WITNESS WHEREOF, the Purchaser has caused this
instrument to be executed on its behalf, pursuant to authority of
its Board of Directors, by its [title of officer] this _____ day
of __________, 19__.
_________________________________
[name of Purchaser]
By:______________________________
Name:
Title:
Personally appeared before me the above-named [name of officer]
________________, known or proved to me to be the same person who
executed the foregoing instrument and to be the [title of
officer] _________________ of the Purchaser, and acknowledged to
me that he [she] executed the same as his [her] free act and deed
and the free act and deed of the Purchaser.
Subscribed and sworn before me this _____ day of __________,
19__.
NOTARY PUBLIC
______________________________
COUNTY OF_____________________
STATE OF______________________
My commission expires the _____ day of __________, 19__.
4
<PAGE>
EXHIBIT G
[LETTER FROM TRANSFEROR OF RESIDUAL CERTIFICATE]
___________________
Date
State Street Bank and Trust Company
Corporate Trust Department
225 Franklin Street
8th Floor
Boston, Massachusetts 02110
Re: GE Capital Mortgage Services, Inc.
REMIC Multi-Class Pass-Through
Certificates, Series 1998-14
----------------------------------
Ladies and Gentlemen:
_______________________ (the "Transferor") has
reviewed the attached affidavit of _____________________________
(the "Transferee"), and has no actual knowledge that such
affidavit is not true and has no reason to believe that the
information contained in paragraph 7 thereof is not true, and has
no reason to believe that the Transferee has the intention to
impede the assessment or collection of any federal, state or
local taxes legally required to be paid with respect to a
Residual Certificate. In addition, the Transferor has conducted a
reasonable investigation at the time of the transfer and found
that the Transferee had historically paid its debts as they came
due and found no significant evidence to indicate that the
Transferee will not continue to pay its debts as they become due.
Very truly yours,
__________________________
Name:
Title:
<PAGE>
EXHIBIT H
ADDITIONAL SERVICER COMPENSATION
QUALIFIED ADMINISTRATIVE EXPENSES
(Conventional, Non-Conforming Loans)
Assumption Fees $550 - $800
Late Charges Per Loan Documents
Appraisal/Inspection Fees Reasonable and Customary
Charges
Partial Release Fees $300
Easements $150
Insufficient Funds Charges $15
Document Requests (copies of
loan file documents, additional
pay-off quotations, amortization
schedules, payment histories) $0
Modification Fees Reasonable and Customary
Charges
<PAGE>
EXHIBIT I
FORM OF INVESTMENT LETTER FOR
DEFINITIVE RESTRICTED CERTIFICATES
__________________
Date
State Street Bank and Trust Company
Corporate Trust Department
225 Franklin Street
8th Floor
Boston, Massachusetts 02110
Re: GE Capital Mortgage Services, Inc.
REMIC Multi-Class Pass Through
Certificates, Series 1998-14
----------------------------------
Ladies and Gentlemen:
1. The undersigned, a [title of officer] ___________
of [name of Investor] _________________________________________
(the "Investor"), a ______________ ___________________ [description
of type of entity] duly organized and existing under the laws of
the [State of __________________] [United States], hereby
certifies as follows:
2. The Investor hereby acknowledges that under the
terms of the Pooling and Servicing Agreement between State Street
Bank and Trust Company, as Trustee, and GE Capital Mortgage
Services, Inc. (the "Company"), dated as of September 1, 1998
(the "Agreement"), no transfer of a Restricted Certificate may be
made unless such transfer is exempt from the registration
requirements of the Securities Act of 1933, as amended (the
"Securities Act"), and any applicable state securities laws, or
is made in accordance with the Securities Act and such laws.
3. The Investor understands that (a) the Restricted
Certificates have not been and will not be registered or
qualified under the Securities Act, or the securities laws of any
state, (b) neither the Company nor the Trustee is required, and
neither intends, to so register or qualify the Restricted
Certificates, (c) the Restricted Certificates cannot be resold
unless (i) they are registered and qualified under the Securities
Act and the applicable state securities laws or (ii) such sale is
exempt from the requirements of the Securities Act, (d) the
Agreement contains restrictions regarding the transfer of the
Restricted Certificates and (e) the Restricted Certificates will
bear a legend to the foregoing effect.
<PAGE>
4. The Investor is acquiring the Restricted
Certificates for its own account for investment only and not with
a view to or for sale or other transfer in connection with any
distribution of the Restricted Certificates in any manner that
would violate the Securities Act or any applicable state
securities laws.
5. The Investor (a) is a substantial, sophisticated
institutional investor having such knowledge and experience in
financial and business matters, and in particular in such matters
related to securities similar to the Restricted Certificates,
such that it is capable of evaluating the merits and risks of
investment in the Restricted Certificates, (b) is able to bear
the economic risks of such an investment and (c) is an
"accredited investor" within the meaning of Rule 501(a)(1), (2),
(3) or (7) promulgated pursuant to the Securities Act.
6. The Investor will not authorize nor has it
authorized any person to (a) offer, pledge, sell, dispose of or
otherwise transfer any Restricted Certificate, any interest in
any Restricted Certificate or any other similar security to any
person in any manner, (b) solicit any offer to buy or to accept a
pledge, disposition or other transfer of any Restricted
Certificate, any interest in any Restricted Certificate or any
other similar security from any person in any manner, (c)
otherwise approach or negotiate with respect to any Restricted
Certificate, any interest in any Restricted Certificate or any
other similar security with any person in any manner, (d) make
any general solicitation by means of general advertising or in
any other manner, or (e) take any other action that would
constitute a distribution of any Restricted Certificate under the
Securities Act, that would render the disposition of any
Restricted Certificate a violation of Section 5 of the Securities
Act or any state securities law, or that could require
registration or qualification pursuant thereto. Neither the
Investor nor anyone acting on its behalf has offered the
Restricted Certificates for sale or made any general solicitation
by means of general advertising or in any other manner with
respect to the Restricted Certificates. The Investor will not
sell or otherwise transfer any of the Restricted Certificates,
except in compliance with the provisions of the Agreement.
7. If an Investor in a Restricted Certificate sells or
otherwise transfers any such Certificate to a transferee other
than a "qualified institutional buyer" under Rule 144A of the
Securities Act, such Investor will obtain (a) from any subsequent
purchaser the same certifications, representations, warranties
and covenants contained in the foregoing paragraphs and in this
paragraph or (b) an opinion of counsel in form and substance
satisfactory to the Trustee pursuant to the Agreement.
8. The Investor hereby indemnifies the Trustee and the
Company against any liability that may result if the Investor's
transfer of a Restricted Certificate (or any portion thereof) is
not exempt from the registration requirements of the Securities
Act and any applicable state securities laws or is not made in
accordance with such federal and state laws. Such indemnification
of the Trustee and the Company shall survive the termination of
the Agreement.
[9. The Restricted Certificates shall be registered in
the name of _____________________________ as nominee for the
Investor.]
2
<PAGE>
IN WITNESS WHEREOF, the Investor has caused this
instrument to be executed on its behalf, pursuant to authority of
its Board of Directors, by its [title of officer] _____________
this _____ day of __________, 19__.
_________________________________
[name of Investor]
By:______________________________
Name:
Title:
The undersigned hereby
acknowledges that it is holding
and will hold the Restricted
Certificates at the exclusive
direction of and as nominee
of the Investor named above.
_____________________________
[name of nominee]
By:__________________________
Name:
Title:
3
<PAGE>
EXHIBIT J
FORM OF DISTRIBUTION DATE STATEMENT
_________________, ______
(month) (year)
GE CAPITAL MORTGAGE SERVICES, INC.
REMIC Multi-Class Pass-Through Certificates,
Series 1998-14
Pursuant to the Pooling and Servicing Agreement dated
as of September 1, 1998 (the "Agreement") between GE Capital
Mortgage Services, Inc. (the "Company"), and State Street Bank
and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the
Determination Date for this month:
The amounts below are for a Single Certificate of
$1,000:
(1) Amount of distribution allocable to principal:
Class A1 $__________
Class A2 $__________
Class A3 $__________
Class A4 $__________
Class A5 $__________
Class A6 $__________
Class A7 $__________
Class A8 $__________
Class A9 $__________
Class A10 $__________
Class A11 $__________
Class A12 $__________
Class PO $__________
Class M $__________
Class B1 $__________
Class B2 $__________
Class B3 $__________
Class B4 $__________
Class B5 $__________
Class R $__________
Class RL $__________
(2) Aggregate principal prepayments included in
distribution:
<PAGE>
Class A1 $__________
Class A2 $__________
Class A3 $__________
Class A4 $__________
Class A5 $__________
Class A6 $__________
Class A7 $__________
Class A8 $__________
Class A9 $__________
Class A10 $__________
Class A11 $__________
Class A12 $__________
Class PO $__________
Class M $__________
Class B1 $__________
Class B2 $__________
Class B3 $__________
Class B4 $__________
Class B5 $__________
Class R $__________
Class RL $__________
(3) Amount of distribution allocable to interest;
Pay-out Rate:
Class A1 $__________ ____%
Class A2 $__________ ____%
Class A3 $__________ ____%
Class A5 $__________ ____%
Class A6 $__________ ____%
Class A7 $__________ ____%
Class A8 $__________ ____%
Class A9 $__________ ____%
Class A10 $__________ ____%
Class A11 $__________ ____%
Class A12 $__________ ____%
Class M $__________ ____%
Class B1 $__________ ____%
Class B2 $__________ ____%
Class B3 $__________ ____%
Class B4 $__________ ____%
Class B5 $__________ ____%
Class R $__________ ____%
Class RL $__________ ____%
2
<PAGE>
(4) Accrual Amount:
Class A7 $__________
Class A9 $__________
(5) Amount of distribution allocable to Unanticipated
Recoveries:
Class A1 $__________ ____%
Class A2 $__________ ____%
Class A3 $__________ ____%
Class A4 $__________ ____%
Class A5 $__________ ____%
Class A6 $__________ ____%
Class A7 $__________ ____%
Class A8 $__________ ____%
Class A9 $__________ ____%
Class A10 $__________ ____%
Class A11 $__________ ____%
Class A12 $__________ ____%
Class PO $__________ ____%
Class M $__________ ____%
Class B1 $__________ ____%
Class B2 $__________ ____%
Class B3 $__________ ____%
Class B4 $__________ ____%
Class B5 $__________ ____%
Class R $__________ ____%
Class RL $__________ ____%
(6) Servicing Compensation: $__________
The amounts below are for the aggregate of all
Certificates:
(7) Pool Scheduled Principal Balance;
number of Mortgage Loans: $_______ __________
3
<PAGE>
(8) Class Certificate Principal Balance
(or Notional Principal Balance) of
each Class; Certificate Principal
Balance (or Notional Principal
Balance) of Single Certificate of
each Class:
Single
Certificate
Class Balance Balance
-------- ---------- -----------
Class A1 $__________ $__________
Class A2 $__________ $__________
Class A3 $__________ $__________
Class A4 $__________ $__________
Class A5 $__________ $__________
Class A6 $__________ $__________
Class A7 $__________ $__________
Class A8 $__________ $__________
Class A9 $__________ $__________
Class A10 $__________ $__________
Class A11 $__________ $__________
Class A12 $__________ $__________
Class PO $__________ $__________
Class M $__________ $__________
Class B1 $__________ $__________
Class B2 $__________ $__________
Class B3 $__________ $__________
Class B4 $__________ $__________
Class B5 $__________ $__________
Class R $__________ $__________
Class RL $__________ $__________
(9) Book value of real estate
acquired on behalf of
Certificate-holders; number
of related Mortgage Loans: $_________ _________
(10) Aggregate Scheduled Principal
Balance and number of delinquent
Mortgage Loans:
30-59 days delinquent $_________ _________
60-89 days delinquent $_________ _________
90 or more days delinquent $_________ _________
4
<PAGE>
In foreclosure $_________ _________
(11) Aggregate Scheduled
Principal Balance and
number of replaced
Mortgage Loans: $_________ _________
(12) Aggregate Scheduled
Principal Balance and
number of modified
Mortgage Loans: $_________ _________
(13) Senior Percentage for
such Distribution Date: __________%
(14) Senior Prepayment Percentage
for such Distribution Date: __________%
(15) Group II Senior Percentage
for such Distribution Date: __________%
(16) Group II Senior Scheduled
Distribution Percentage for
such Distribution Date: __________%
(17) Group II Senior Prepayment
Distribution Percentage for
such Distribution Date: __________%
(18) Junior Percentage for such
Distribution Date: __________%
(19) Junior Prepayment Percentage
for such Distribution Date: __________%
Capitalized terms used in this Statement shall have
the same meanings as in the Agreement.
5
<PAGE>
EXHIBIT K
FORM OF SPECIAL SERVICING
AND COLLATERAL FUND AGREEMENT
This SPECIAL SERVICING AND COLLATERAL FUND AGREEMENT
(the "Agreement") is made and entered into as of ________________,
199_, between GE Capital Mortgage Services, Inc. (the "Company")
and _____________________________ (the "Purchaser").
PRELIMINARY STATEMENT
___________________________ or an affiliate thereof is
the holder of the entire interest in REMIC Multi-Class Pass-Through
Certificates, Series 199_-__, Class B_ (the "Class B_
Certificates"). The Class B_ Certificates were issued pursuant
to a Pooling and Servicing Agreement (the "Pooling and Servicing
Agreement") dated as of ________ 1, 199_ between the Company (in
its capacity as servicer thereunder, the "Servicer") and State
Street Bank and Trust Company as Trustee.
____________________________ or an affiliate thereof
intends to resell all of the Class B_ Certificates directly to
the Purchaser on or promptly after the date hereof.
In connection with such sale, the parties hereto have
agreed that the Company, as Servicer, will engage in certain
special servicing procedures relating to foreclosures for the
benefit of the Purchaser, and that the Purchaser will deposit
funds in a collateral fund to cover any losses attributable to
such procedures as well as all advances and costs in connection
therewith, as set forth herein.
[The parties hereto have further agreed that the
Purchaser will have no rights, and the Company will have no
obligations under this Agreement until the Class Certificate
Principal Balance of the REMIC Multi-Class Pass-Through
Certificates, Series 199_-__, Class B5 (the "Class B5
Certificates") has been reduced to zero, and any Special
Servicing and Collateral Fund Agreement in respect of such Class
between the Company and the Purchaser has been terminated.]
In consideration of the mutual agreements herein
contained, the receipt and sufficiency of which are hereby
acknowledged, the Company and the Purchaser agree that the
following provisions shall become effective and shall be binding
on and enforceable by the Company and the Purchaser upon the
acquisition by the Purchaser of the Class B_ Certificates.
<PAGE>
ARTICLE I
DEFINITIONS
Section 1.01. Defined Terms. Whenever used in this
Agreement, the following words and phrases, unless the context
otherwise requires, shall have the following meanings:
Business Day: Any day other than (i) a Saturday or a
Sunday of (ii) a day on which banking institutions in New York
City or Boston, Massachusetts are required or authorized by law
or executive order to be closed.
Collateral Fund: The fund established and maintained
pursuant to Section 3.01 hereof.
Collateral Fund Permitted Investments: Either (i)
obligations of, or obligations fully guaranteed as to principal
and interest by, the United States, or any agency or
instrumentality thereof, provided such obligations are backed by
the full faith and credit of the United States, (ii) repurchase
agreements on obligations specified in clause (i) provided that
the unsecured obligations of the party agreeing to repurchase
such obligations are at the time rated by each Rating Agency in
the highest long-term rating category, (iii) federal funds,
certificates of deposit, time deposits and banker's acceptances
of any U.S. depository institution or trust company incorporated
under the laws of the United States or any state provided that
the debt obligations of such depository institution or trust
company at the date of acquisition thereof have been rated by
each Rating Agency in the highest long-term rating category, (iv)
commercial paper of any corporation incorporated under the laws
of the United States or any state thereof which on the date of
acquisition has the highest short term rating of each Rating
Agency, and (v) other obligations or securities that are
acceptable to each Rating Agency as a Collateral Fund Permitted
Investment hereunder and will not, as evidenced in writing,
result in a reduction or withdrawal in the then current rating of
the Certificates and, for each of the preceding clauses, the
maturity thereof shall be not later than the earlier to occur of
(A) 30 days from the date of the related investment and (B) the
Business Day preceding the next succeeding Distribution Date.
Commencement of Foreclosure: The first official action
required under local law in order to commence foreclosure
proceedings or to schedule a trustee's sale under a deed of
trust, including (i) in the case of a mortgage, any filing or
service of process necessary to commence an action to foreclose,
or (ii) in the case of a deed of trust, the posting, publishing,
filing or delivery of a notice of sale, but not including in
either case (x) any notice of default, notice of intent to
foreclose or sell or any other action prerequisite to the actions
specified in (i) or (ii) above and, upon the consent of the
Purchaser which will be deemed given unless expressly withheld
within two Business Days of notification, (y) the acceptance of a
deed-in-lieu of foreclosure (whether in connection with a sale of
the related property or otherwise) or (z) initiation and
completion of a short pay-off.
Current Appraisal: With respect to any Mortgage Loan
as to which the Purchaser has made an Election to Delay
Foreclosure, an appraisal of the related Mortgaged Property
2
<PAGE>
obtained by the Purchaser as nearly contemporaneously as
practicable to the time of the Purchaser's election, prepared
based on the Company's customary requirements for such
appraisals.
Election to Delay Foreclosure: Any election by the
Purchaser to delay the Commencement of Foreclosure, made in
accordance with Section 2.02(b).
Election to Foreclose: Any election by the Purchaser
to proceed with the Commencement of Foreclosure, made in
accordance with Section 2.03(a).
Required Collateral Fund Balance: As of any date of
determination, an amount equal to the aggregate of all amounts
previously required to be deposited in the Collateral Fund
pursuant to Section 2.02(d) (after adjustments for all
withdrawals and deposits prior to such date pursuant to Section
2.02(e)) and Section 2.03(b) (after adjustment for all
withdrawals and deposits prior to such date pursuant to Section
2.03(c)) and Section 3.02, reduced by all withdrawals therefrom
prior to such date pursuant to Section 2.02(g) and Section
2.03(d).
Section 1.02. Definitions Incorporated by Reference. All
capitalized terms not otherwise defined in this Agreement shall
have the meanings assigned in the Pooling and Servicing
Agreement.
ARTICLE II
SPECIAL SERVICING PROCEDURES
Section 2.01. Reports and Notices.
(a) In connection with the performance of its duties under
the Pooling and Servicing Agreement relating to the realization
upon defaulted Mortgage Loans, the Company as Servicer shall
provide to the Purchaser the following notices and reports:
(i) Within five Business Days after each
Distribution Date (or included in or with the monthly
statements to Certificateholders pursuant to the Pooling
and Servicing Agreement), the Company, as Servicer, shall
provide to the Purchaser a report, using the same
methodology and calculations in its standard servicing
reports, indicating for the Trust Fund the number of
Mortgage Loans that are (A) thirty days, (B) sixty days,
(C) ninety days or more delinquent or (D) in foreclosure,
and indicating for each such Mortgage Loan the loan number
and outstanding principal balance.
(ii) Prior to the Commencement of Foreclosure in
connection with any Mortgage Loan, the Company shall
provide the Purchaser with a notice (sent by facsimile
transmission) of such proposed and imminent foreclosure,
stating the loan number and the aggregate amount owing
under the Mortgage Loan. Such notice may be provided to the
Purchaser in the form of a copy of a referral letter from
the Company to an attorney
3
<PAGE>
requesting the institution of foreclosure or a copy of a
request to foreclose received by the Company from the
related primary servicer which has been approved by the
Company.
(b) If requested by the Purchaser, the Company shall make
its servicing personnel available (during their normal business
hours) to respond to reasonable inquiries, in writing by
facsimile transmission, by the Purchaser in connection with any
Mortgage Loan identified in a report under subsection (a)(i) or
(a)(ii) which has been given to the Purchaser, provided, that (1)
the Company shall only be required to provide information that is
readily accessible to its servicing personnel and is
non-confidential and (2) the Company shall respond within five
Business Days orally or in writing by facsimile transmission.
(c) In addition to the foregoing, the Company shall provide
to the Purchaser such information as the Purchaser may reasonably
request concerning each Mortgage Loan that is at least sixty days
delinquent and each Mortgage Loan which has become real estate
owned, through the final liquidation thereof, provided, that the
Company shall only be required to provide information that is
readily accessible to its servicing personnel and is
non-confidential.
Section 2.02. Purchaser's Election to Delay Foreclosure
Proceedings.
(a) The Purchaser shall be deemed to direct the Company
that in the event that the Company does not receive written
notice of the Purchaser's election pursuant to subsection (b)
below within 24 hours (exclusive of any intervening non-Business
Days) of transmission of the notice provided by the Company under
Section 2.01(a)(ii) subject to extension as set forth in Section
2.02(b), the Company may proceed with the Commencement of
Foreclosure in respect of such Mortgage Loan in accordance with
its normal foreclosure policies without further notice to the
Purchaser. Any foreclosure that has been initiated may be
discontinued (i) without notice to the Purchaser if the Mortgage
Loan has been brought current or if a refinancing or prepayment
occurs with respect to the Mortgage Loan (including by means of a
short payoff approved by the Company) or (ii) with notice to the
Purchaser if the Company has reached the terms of a forbearance
agreement with the borrower. In such latter case the Company may
complete such forbearance agreement unless instructed otherwise
by the Purchaser within two Business Days of notification.
(b) In connection with any Mortgage Loan with respect to
which a notice under Section 2.01(a)(ii) has been given to the
Purchaser, the Purchaser may elect to instruct the Company to
delay the Commencement of Foreclosure until such time as the
Purchaser determines that the Company may proceed with the
Commencement of Foreclosure. Such election must be evidenced by
written notice received within 24 hours (exclusive of any
intervening non-Business Days) of transmission of the notice
provided by the Company under Section 2.01(a)(ii). The Purchaser
shall send a copy of such notice of election to each Rating
Agency as soon as practicable thereafter. Such 24-hour period
shall be extended for no longer than an additional four Business
Days after the receipt of the information if the Purchaser
requests additional information related to such foreclosure
within such 24-hour period; provided, however, that the Purchaser
will have at least one Business Day to make such election
following its receipt of any requested additional information.
Any such additional information shall (i) not be confidential in
4
<PAGE>
nature and (ii) be obtainable by the Company from existing
reports, certificates or statements or otherwise be readily
accessible to its servicing personnel. The Purchaser agrees that
it has no right to deal with the mortgagor. However, if the
Company's normal foreclosure policies include acceptance of a
deed-in-lieu of foreclosure or short payoff, the Purchaser will
be notified and given two Business Days to respond.
(c) With respect to any Mortgage Loan as to which the
Purchaser has made an Election to Delay Foreclosure, the
Purchaser shall obtain a Current Appraisal as soon as
practicable, and shall provide the Company with a copy of such
Current Appraisal.
(d) Within two Business Days of making any Election to
Delay Foreclosure, the Purchaser shall remit by wire transfer to
the Trustee, for deposit in the Collateral Fund, an amount, as
calculated by the Company, equal to the sum of (i) 125% of the
greater of the Scheduled Principal Balance of the Mortgage Loan
and the value shown in the Current Appraisal referred to in
subsection (c) above (or, if such Current Appraisal has not yet
been obtained, the Company's estimate thereof, in which case the
required deposit under this subsection shall be adjusted upon
obtaining such Current Appraisal), and (ii) three months'
interest on the Mortgage Loan at the applicable Mortgage Rate. If
any Election to Delay Foreclosure extends for a period in excess
of three months (such excess period being referred to herein as
the "Excess Period"), the Purchaser shall remit by wire transfer
in advance to the Trustee for deposit in the Collateral Fund the
amount of each additional month's interest, as calculated by the
Company, equal to interest on the Mortgage Loan as the applicable
Mortgage Rate for the Excess Period. The terms of this Agreement
will no longer apply to the servicing of any Mortgage Loan upon
the failure of the Purchaser to deposit the above amounts
relating to the Mortgage Loan within two Business Days of (i) the
Election to Delay Foreclosure or (ii) the beginning of the
related Excess Period, as the case may be.
(e) With respect to any Mortgage Loan as to which the
Purchaser has made an Election to Delay Foreclosure, the Company
or the Trustee may withdraw from the Collateral Fund from time to
time amounts necessary to reimburse the Company for all related
Monthly Advances and Liquidation Expenses thereafter made by the
Company as Servicer in accordance with the Pooling and Servicing
Agreement. To the extent that the amount of any such Liquidation
Expense is determined by the Company based on estimated costs,
and the actual costs are subsequently determined to be higher,
the Company or the Trustee may withdraw the additional amount
from the Collateral Fund to reimburse the Company. In the event
that the Mortgage Loan is brought current by the mortgagor, the
amounts so withdrawn from the Collateral Fund shall be
redeposited therein as and to the extent that reimbursement
therefor from amounts paid by the mortgagor is not prohibited
pursuant to the Pooling and Servicing Agreement as of the date
hereof. Except as provided in the preceding sentence, amounts
withdrawn from the Collateral Fund to cover Monthly Advances and
Liquidation Expenses shall not be redeposited therein or
otherwise reimbursed to the Purchaser. If and when any such
Mortgage Loan is brought current by the mortgagor, all amounts
remaining in the Collateral Fund in respect of such Mortgage Loan
(after adjustment for all previous withdrawals and deposits
pursuant to this
5
<PAGE>
subsection and after reimbursement to the Servicer for all
related Monthly Advances) shall be released to the Purchaser.
(f) With respect to any Mortgage Loan as to which the
Purchaser has made an Election to Delay Foreclosure, the Company
shall continue to service the Mortgage Loan in accordance with
its customary procedures (other than the delay in Commencement of
Foreclosure as provided herein). If and when, following such
election, the Purchaser shall notify the Company that it believes
that it is appropriate to do so, the Company shall proceed with
the Commencement of Foreclosure; provided that, in any event, if
the Mortgage Loan is not brought current by the mortgagor by the
time the loan becomes 6 months delinquent, the Purchaser's
election shall no longer be effective, unless the Purchaser shall
have purchased the related Mortgage Loan promptly following (and
in any event not later than the third Business Day after) the end
of such 6-month period in the manner provided in the following
two sentences, and the Company shall be entitled to proceed with
the Commencement of Foreclosure. Any purchase of such Mortgage
Loan by the Purchaser pursuant to the preceding sentence shall be
at a purchase price equal to the unpaid principal balance of the
Mortgage Loan plus accrued interest at the Mortgage Rate from the
date last paid by the mortgagor. Such purchase price shall be
deposited by the Purchaser into the Collateral Fund in
immediately available funds on the Business Day which is the date
of purchase and the Purchaser shall instruct the Trustee (with
notice to the Company) to withdraw such amount therefrom on such
Business Day and remit the same to the Trust Fund for application
as Liquidation Proceeds pursuant to the Pooling and Servicing
Agreement. Following such withdrawal, all amounts remaining in
the Collateral Fund in respect of such Mortgage Loan (after
adjustment for all previous withdrawals and deposits pursuant to
this Agreement and after reimbursement to the Servicer for all
related Monthly Advances) shall be released to the Purchaser.
(g) Upon the occurrence of a liquidation with respect to
any Mortgage Loan as to which the Purchaser made an Election to
Delay Foreclosure and as to which the Company proceeded with the
Commencement of Foreclosure in accordance with subsection (f)
above, the Company shall calculate the amount, if any, by which
the value shown on the Current Appraisal obtained under
subsection (c) exceeds the actual sales price obtained for the
related Mortgaged Property (net of Liquidation Expenses and
unreimbursed Monthly Advances related to the extended foreclosure
period), and the Company or the Trustee shall withdraw the amount
of such excess from the Collateral Fund and shall remit the same
to the Trust Fund for application as additional Liquidation
Proceeds pursuant to the Pooling and Servicing Agreement. After
making such withdrawal, all amounts remaining in the Collateral
Fund in respect of such Mortgage Loan (after adjustment for all
withdrawals and deposits pursuant to subsection (e) and after
reimbursement to the Servicer for all related Monthly Advances)
shall be released to the Purchaser.
Section 2.03. Purchaser's Election to Commence Foreclosure
Proceedings.
(a) In connection with any Mortgage Loan identified in a
report under Section 2.01(a)(i)(B), the Purchaser may elect to
instruct the Company to proceed with the
6
<PAGE>
Commencement of Foreclosure as soon as practicable. Such election
must be evidenced by written notice received by the Company by
5:00 p.m., New York City time, on the third Business Day
following the delivery of such report under Section 2.01(a)(i).
(b) Within two Business Days of making any Election to
Foreclose, the Purchaser shall remit to the Trustee, for deposit
in the Collateral Fund, an amount, as calculated by the Company,
equal to 125% of the current Scheduled Principal Balance of the
Mortgage Loan and three months' interest on the Mortgage Loan at
the applicable Mortgage Rate. If and when any such Mortgage Loan
is brought current by the mortgagor, all amounts in the
Collateral Fund in respect of such Mortgage Loan (after
adjustment for all withdrawals and deposits pursuant to
subsection (c) below) shall be released to the Purchaser. The
terms of this Agreement will no longer apply to the servicing of
any Mortgage Loan upon the failure of the Purchaser to deposit
the above amounts relating to the Mortgage Loan within two
Business Days of the Election to Foreclose.
(c) With respect to any Mortgage Loan as to which the
Purchaser has made an Election to Foreclose, the Company shall
continue to service the Mortgage Loan in accordance with its
customary procedures. In connection therewith, the Company shall
have the same rights to make withdrawals for Monthly Advances and
Liquidation Expenses from the Collateral Fund as are provided
under Section 2.02(e), and the Company shall make reimbursements
thereto to the limited extent provided under such subsection. The
Company shall not be required to proceed with the Commencement of
Foreclosure if (i) the same is stayed as a result of the
mortgagor's bankruptcy or is otherwise barred by applicable law,
or to the extent that all legal conditions precedent thereto have
not yet been complied with, or (ii) the Company believes there is
a breach of representations or warranties by the Company, which
may result in a repurchase or substitution of such Mortgage Loan,
or (iii) the Company has or expects to have the right under the
Pooling and Servicing Agreement to purchase the defaulted
Mortgage Loan and intends to exercise such right or (iv) the
Company reasonably believes the Mortgaged Property may be
contaminated with or affected by hazardous wastes or hazardous
substances (and the Company supplies the Purchaser with
information supporting such belief) or (v) the same is prohibited
by or is otherwise inconsistent with the provisions of the
Pooling and Servicing Agreement. Any foreclosure that has been
initiated may be discontinued (i) without notice to the Purchaser
if the Mortgage Loan has been brought current or if a refinancing
or prepayment occurs with respect to the Mortgage Loan (including
by means of a short payoff approved by the Purchaser) or (ii)
with notice to the Purchaser if the Company has reached the terms
of a forbearance agreement unless instructed otherwise by the
Purchaser within two Business Days of notification.
(d) Upon the occurrence of a liquidation with respect to
any Mortgage Loan as to which the Purchaser made an Election to
Foreclose and as to which the Company proceeded with the
Commencement of Foreclosure in accordance with subsection (c)
above, the Company shall calculate the amount, if any, by which
the Scheduled Principal Balance of the Mortgage Loan at the time
of liquidation (plus all unreimbursed Monthly Advances and
Liquidation Expenses in connection therewith other than those
previously paid from the Collateral Fund) exceeds the actual
sales price obtained for the related Mortgaged Property, and the
Company or the Trustee
7
<PAGE>
shall withdraw the amount of such excess from the Collateral Fund
and shall remit the same to the Trust Fund for application as
additional Liquidation Proceeds pursuant to the Pooling and
Servicing Agreement. After making such withdrawal, all amounts
remaining in the Collateral Fund (after adjustment for all
withdrawals and deposits pursuant to subsection (c) above and
after reimbursement to the Servicer for all related Monthly
Advances) in respect of such Mortgage Loan shall be released to
the Purchaser.
Section 2.04. Termination.
(a) With respect to all Mortgage Loans included in the
Trust Fund, the Purchaser's right to make any Election to Delay
Foreclosure or any Election to Foreclose and the Company's
obligations under Section 2.01 shall terminate on the earliest to
occur of the following: (i) at such time as the Class Certificate
Principal Balance of the Class B_ Certificates has been reduced
to zero, (ii) if the greater of (x) 43% (or such lower or higher
percentage that represents the Company's actual loss experience
with respect to the Mortgage Loans in the related pool) of the
aggregate principal balance of all Mortgage Loans that are in
foreclosure or are more than 90 days delinquent on a contractual
basis and the aggregate book value of REO properties or (y) the
aggregate amount that the Company estimates through its normal
servicing practices will be required to be withdrawn from the
Collateral Fund with respect to Mortgage Loans as to which the
Purchaser has made an Election to Delay Foreclosure or an
Election to Foreclose exceeds (z) the then-current Class
Certificate Principal Balance of the Class B_ Certificates, or
(iii) upon any transfer by the Purchaser of any interest (other
than the minority interest therein, but only if the transferee
provides written acknowledgment to the Company of the Purchaser's
right hereunder and that such transferee will have no rights
hereunder) in the Class B_ Certificates [or in the Class B5
Certificates] (whether or not such transfer is registered under
the Pooling and Servicing Agreement), including any such transfer
in connection with a termination of the Trust Fund. Unless
earlier terminated as set forth herein, this Agreement and the
respective rights, obligations and responsibilities of the
Purchaser and the Company hereunder shall terminate immediately
upon (x) the later to occur of (i) the final liquidation of the
last Mortgage Loan as to which the Purchaser made any Election to
Delay Foreclosure or any Election to Foreclose and the withdrawal
of all remaining amounts in the Collateral Fund as provided
herein and (ii) ten (10) Business Days' notice or (y) the
occurrence of any event that results in the Purchaser becoming an
"affiliate" of the Trustee within the meaning of the Prohibited
Transaction Exemption (as defined in the Pooling and Servicing
Agreement).
(b) The Purchaser's rights pursuant to Section 2.02 or 2.03
of this Agreement shall terminate with respect to a Mortgage Loan
as to which the Purchaser has exercised its rights under Section
2.02 or 2.03 hereof, upon Purchaser's failure to deposit any
amounts required pursuant to Section 2.02(d) or 2.03(b) after one
Business Day's notice of such failure.
Section 2.05. Notification. The Purchaser shall promptly
notify the Trustee and the Company if such Purchaser becomes
aware of any discussions, plans or events that might lead to such
Person's becoming an "affiliate" (within the meaning of the
Prohibited Transaction
8
<PAGE>
Exemption) of the Trustee, provided that the contents of any such
notification shall be kept confidential by the parties to this
Agreement.
ARTICLE III
COLLATERAL FUND; SECURITY INTEREST
Section 3.01. Collateral Fund. Upon payment by the
Purchaser of the initial amount required to be deposited in the
Collateral Fund pursuant to Article II, the Company shall request
the Trustee to establish and maintain with the Trustee a
segregated account entitled "REMIC Multi-Class Pass-Through
Certificates 199_-__ Collateral Fund, for the benefit of GE
Capital Mortgage Services, Inc. and State Street Bank and Trust
Company on behalf of Certificateholders, as secured parties" (the
"Collateral Fund"). Amounts held in the Collateral Fund shall
continue to be the property of the Purchaser, subject to the
first priority security interest granted hereunder for the
benefit of such secured parties, until withdrawn from the
Collateral Fund pursuant to the Section 2.02 or 2.03 hereof.
Upon the termination of this Agreement and the
liquidation of all Mortgage Loans as to which the Purchaser has
made any Election to Delay Foreclosure or any Election to
Foreclose pursuant to Section 2.04 hereof, the Company shall
distribute to the Purchaser all amounts remaining in the
Collateral Fund together with any investment earnings thereon
(after giving effect to all withdrawals therefrom permitted under
this Agreement).
The Purchaser shall not take or direct the Company or
the Trustee to take any action contrary to any provision of the
Pooling and Servicing Agreement. In no event shall the Purchaser
(i) take or cause the Trustee or the Company to take any action
that could cause any REMIC established under the Pooling and
Servicing Agreement to fail to qualify as a REMIC or cause the
imposition on any such REMIC of any "prohibited transaction" or
"prohibited contribution" taxes or (ii) cause the Trustee or the
Company to fail to take any action necessary to maintain the
status of any such REMIC as a REMIC.
Section 3.02. Collateral Fund Permitted Investments. The
Company shall, at the written direction of the Purchaser, direct
the Trustee to invest the funds in the Collateral Fund in the
name of the Trustee in Collateral Fund Permitted Investments.
Such direction shall not be changed more frequently then
quarterly. In the absence of any direction, the Company shall
direct the Trustee select such investments in accordance with the
definition of Collateral Fund Permitted Investments in its
discretion
All income and gain realized from any investment as
well as any interest earned on deposits in the Collateral Fund
(net of any losses on such investments) and any payments of
principal made in respect of any Collateral Fund Permitted
Investment shall be deposited in the Collateral Fund upon
receipt. All costs and realized losses associated with the
purchase and sale of Collateral Fund Permitted Investments shall
be borne by the Purchaser and the amount of net realized losses
shall be promptly deposited by the Purchaser in the Collateral
Fund. The Company shall periodically (but not more frequently
than monthly) direct the Trustee to
9
<PAGE>
distribute to the Purchaser upon request an amount of cash, to
the extent cash is available therefor in the Collateral Fund,
equal to the amount by which the balance of the Collateral Fund,
after giving effect to all other distributions to be made from
the Collateral Fund on such date, exceeds the Required Collateral
Fund Balance. Any amounts so distributed shall be released from
the lien and security interest of this Agreement.
Section 3.03. Grant of Security Interest. In order to
secure the obligations of the Purchaser hereunder to the Company
and the Trustee for the benefit of Certificateholders (other than
its obligations under Section 4.10), the Purchaser hereby grants
to the Company and to the Trustee for the benefit of the
Certificateholders a security interest in and lien on all of the
Purchaser's right, title and interest, whether now owned or
hereafter acquired, in and to: (1) the Collateral Fund, (2) all
amounts deposited in the Collateral Fund and Collateral Fund
Permitted Investments in which such amounts are invested (and the
distributions and proceeds of such investments) and (3) all cash
and non-cash proceeds of any of the foregoing, including proceeds
of the voluntary or involuntary conversion thereof (all of the
foregoing collectively, the "Collateral").
The Purchaser acknowledges the lien on and security
interest in the Collateral for the benefit of the Company and the
Trustee on behalf of the Certificateholders. The Purchaser shall
take all actions requested by the Company or the Trustee as may
be reasonably necessary to perfect the security interest created
under this Agreement in the Collateral and cause it to be prior
to all other security interests and liens, including the
execution and delivery to the Company or at its direction the
Trustee for filing of appropriate financing statements in
accordance with applicable law.
Section 3.04. Collateral Shortfalls. In the event that
amounts on deposit in the Collateral Fund at any time are
insufficient to cover any withdrawals therefrom that the Company
or the Trustee is then entitled to make hereunder, the Purchaser
shall be obligated to pay such amounts to the Company or the
Trustee immediately upon demand. Such obligation shall constitute
a general corporate obligation of the Purchaser. The failure to
pay such amounts within two Business Days of such demand (except
for amounts to cover interest on a Mortgage Loan pursuant to
Sections 2.02(d) and 2.03(b)), shall cause an immediate
termination of the Purchaser's right to make any Election to
Delay Foreclosure or Election to Foreclose and the Company's
obligations under this Agreement with respect to all Mortgage
Loans to which such insufficiencies relate, without the necessity
of any further notice or demand on the part of the Company.
ARTICLE IV
MISCELLANEOUS PROVISIONS
Section 4.01. Amendment. This Agreement may be amended from
time to time by the Company and the Purchaser by written
agreement signed by the Company and the Purchaser provided that
no such amendment shall have a material adverse effect on the
holders of other Classes of Certificates.
10
<PAGE>
Section 4.02. Counterparts. This Agreement may be executed
simultaneously in any number of counterparts, each of which
counterparts shall be deemed to be an original, and such
counterparts shall constitute but one and the same instrument.
Section 4.03. Governing Law. This Agreement shall be
construed in accordance with the laws of the State of New York
and the obligations, rights and remedies of the parties hereunder
shall be determined in accordance with such laws.
Section 4.04. Notices. All demands, notices and direction
hereunder shall be in writing or by telecopy and shall be deemed
effective upon receipt to:
(a) in the case of the Company, with respect to notices
pursuant to Sections 2.02 and 2.03 hereto,
GE Capital Mortgage Services, Inc.
2000 West Loop South
Suite 1917
Houston, Texas 77027
Attention: Mark Pendergrass
Telephone: (713) 964-4207
Facsimile: (713) 964-4100
with respect to all other notices pursuant to this
Agreement,
GE Capital Mortgage Services, Inc.
Three Executive Campus
Cherry Hill, New Jersey 08002
Attention: General Counsel
Telephone: (609) 661-6515
Facsimile: (609) 661-6875
or such other address as may hereafter be furnished in
writing by the Company, or
(b) in the case of the Purchaser, with respect to notices
pursuant to Section 2.01,
________________________________
________________________________
________________________________
Attention:______________________
Telephone:______________________
Facsimile:______________________
11
<PAGE>
with respect to all other notices pursuant to this Agreement,
________________________________
________________________________
________________________________
Attention:______________________
Telephone:______________________
Facsimile:______________________
or such other address as may hereafter be furnished in
writing by the Purchaser, or
(c) in the case of the Trustee,
State Street Bank and Trust Company
Corporate Trust Department
Two International Place, Fifth Floor
Boston, Massachusetts 02110
Attention: Karen Beard
Telephone: (617) 664-5465
Facsimile: (617) 664-5367
Section 4.05. Severability of Provisions. If any one or
more of the covenants, agreements, provisions or terms of this
Agreement shall be for any reason whatsoever, including
regulatory, held invalid, then such covenants, agreements,
provisions or terms shall be deemed severable from the remaining
covenants, agreements, provisions or terms of this Agreement and
shall in no way affect the validity or enforceability of the
other provisions of this Agreement.
Section 4.06. Successor and Assigns. The provisions of this
Agreement shall be binding upon and inure to the benefit of the
parties hereto and the respective successors and assigns of the
parties hereto; provided, however, that the rights under this
Agreement cannot be assigned by the Purchaser without the consent
of the Company.
Section 4.07. Article and Section Headings. The article and
section headings herein are for convenience of reference only and
shall not limit or otherwise affect the meaning hereof.
Section 4.08. Third Party Beneficiaries. The Trustee on
behalf of Certificateholders is the intended third party
beneficiary of this Agreement.
Section 4.09. Confidentiality. The Purchaser agrees that
all information supplied by or on behalf of the Company pursuant
to Section 2.01 or 2.02, including individual account
information, is the property of the Company and the Purchaser
agrees to use such information solely for the purposes set forth
in this Agreement and to hold such information confidential and
not to disclose such information.
12
<PAGE>
Section 4.10. Indemnification. The Purchaser agrees to
indemnify and hold harmless the Company against any and all
losses, claims, damages or liabilities to which it may be
subject, insofar as such losses, claims, damages or liabilities
(or actions in respect thereof) arise out of or are based upon
actions taken by the Company in accordance with the provisions of
this Agreement and which actions conflict or are alleged to
conflict with the Company's obligations under the Pooling and
Servicing Agreement. The Purchaser hereby agrees to reimburse the
Company on demand for the reasonable legal or other expenses
incurred by it in connection with investigating or defending any
such loss, claim, damage, liability or action.
[Section 4.11. Delayed Effectiveness. The Purchaser agrees
that, notwithstanding any other provision of this Agreement, the
Purchaser shall have no rights hereunder, and the Company shall
have no obligations hereunder, until the Class Certificate
Principal Balance of the Class B5 Certificates has been reduced
to zero and any Special Servicing and Collateral Fund Agreement
between the Company and the Purchaser relating to such Class B5
Certificates has been terminated.]
13
<PAGE>
IN WITNESS WHEREOF, the Company and the Purchaser have
caused their names to be signed hereto by their respective
officers thereunto duly authorized, all as of the day and year
first above written.
GE CAPITAL MORTGAGE SERVICES, INC.
By:_______________________________
Name:
Title:
[PURCHASER]
By:_______________________________
Name:
Title:
Acknowledged and agreed to:
STATE STREET BANK AND TRUST COMPANY
By:______________________________
Name:
Title:
14
<PAGE>
EXHIBIT L
FORM OF LOST NOTE AFFIDAVIT AND AGREEMENT
I, _________________________________________, being
duly sworn, do hereby state under oath that:
1. I am a duly elected ______________________ of GE Capital
Mortgage Services, Inc. (the "Company") and am duly authorized to
make this affidavit.
2. This affidavit is being delivered in connection with the
transfer of the Mortgage Loan described in Paragraph 3 hereof by
the Company pursuant to the Pooling and Servicing Agreement dated
as of [date] between the Company, Seller and Servicer, and State
Street Bank and Trust Company, Trustee, relating to the Company's
REMIC Multi-Class Pass-Through Certificates, Series [____]
("Agreement"). Such Mortgage Loan constitutes a Designated Loan.
3. The Company is the payee under the following described
Mortgage Note ("Mortgage Note") which evidences the obligation of
the borrower(s) to repay the Mortgage Loan:
Loan Number: ___________________________________
Mortgage Note Date:_____________________________
Borrower(s): ___________________________________
Original Payee (if not the Company): ___________
Original Amount:________________________________
Mortgage Rate: _________________________________
Address of Mortgaged Property: _________________
________________________________________________
4. The Company is the lawful owner of the Mortgage Note and
has not cancelled, altered, assigned or hypothecated the Mortgage
Note.
5. A thorough and diligent search for the executed original
Mortgage Note was undertaken and was unsuccessful.
6. Attached hereto is a true and correct copy of the
Mortgage Note.
7. The Mortgage Note has not been endorsed by the Company
in any manner inconsistent with its transfer of the Mortgage Loan
under the Agreement.
8. Without limiting the generality of the rights and
remedies of the Trustee contained in the Agreement, the Company
hereby confirms and agrees that in the event the inability to
produce the executed original Mortgage Note results in a breach
of the representations and warranties appearing in Agreement
subsections 2.03(a)(ii) (the validity and enforceability of the
<PAGE>
lien created by the Mortgage Loan) or (x) (no valid offset,
defense or counterclaim to any Mortgage Note or Mortgage), the
Company shall repurchase the Mortgage Loan at the Purchase Price
and otherwise in accordance with Section 2.03(b) of the
Agreement. In addition, the Company covenants and agrees to
indemnify the Trustee and the Trust Fund from and hold them
harmless against any and all losses, liabilities, damages, claims
or expenses (other than those resulting from negligence or bad
faith of the Trustee) arising from the Company's failure to have
delivered the Mortgage Note to the Trustee, including without
limitation any such losses, liabilities, damages, claims or
expenses arising from any action to enforce the indebtedness
evidenced by the Mortgage Note or any claim by any third party
who is the holder of such indebtedness by virtue of possession of
the Mortgage Note.
9. In the event that the Company locates the executed
original Mortgage Note, it shall promptly provide the Mortgage
Note to the Trustee.
10. Capitalized terms not otherwise defined herein shall
have the meanings given them in the Agreement.
Date: _______________________
_____________________________
(signature)
_____________________________
(print name)
_____________________________
(print title)
2
<PAGE>
State of New Jersey )
)ss:
)
On this ____________________day of ___________________,
199__, before me appeared ____________________________, to me
personally known, who acknowledged the execution of the foregoing
and who, having been duly sworn states that he/she is a/the
______________________________of GE Capital Mortgage Services,
Inc., that any representations therein contained are true, that
this Lost Note Affidavit was signed and sealed on behalf of GE
Capital Mortgage Services, Inc. and that this Lost Note Affidavit
is the free act and deed of GE Capital Mortgage Services, Inc.
_______________________________________
(Notary Public)
[Notarial Seal]
3
<PAGE>
EXHIBIT M
SCHEDULE OF DESIGNATED LOANS
None
<PAGE>
EXHIBIT N
SCHEDULE OF PLEDGED ASSET MORTGAGE LOANS
None
<PAGE>
EXHIBIT O
SENIOR PRINCIPAL PRIORITIES
third, to the Senior Certificates, in reduction of the
Class Certificate Principal Balances thereof, to the extent of
remaining Available Funds, concurrently as follows:
(a) to the Class Al, Class A2, Class A3, Class A4,
Class A5, Class A6, Class A7, Class A8, Class A9, Class
A10, Class A11, Class A12, Class R and Class RL
Certificates, the Senior Optimal Principal Amount for such
Distribution Date, concurrently, as follows:
(i) to the Class A10 Certificate, the Class A10
Percentage (as defined herein) of the Senior Optimal
Principal Amount such Distribution Date, until the Class
Certificate Principal Balance thereof has been reduced
to zero; and
(ii) to the Class A1, Class A2, Class A3, Class A4,
Class A5, Class A6, Class A7, Class A8, Class A9, Class
A11, Class A12, Class R and Class RL Certificates, the
Senior Optimal Principal Amount less the amount
distributable pursuant to Clause (a)(i) for such
Distribution Date, in the following order of priority:
(A) to the Class A8 Certificates (the "Group
II Senior Certificates"), the Group II Senior
Principal Distribution Amount (as defined herein)
for such Distribution Date, until the Class
Certificate Principal Balance thereof has been
reduced to zero; and
(B) to the Class A1, Class A2, Class A3,
Class A4, Class A5, Class A6, Class A7, Class A9,
Class A11, Class A12, Class R and Class RL
Certificates (together, the "Group I Senior
Certificates"), the amount distributable pursuant
to clause (a)(ii) for such Distribution Date,
less the Group II Senior Principal Distribution
Amount for such Distribution Date, in the
following order of priority:
(1) pro rata, to the Class R and Class
RL Certificates, until the Class Certificate
Principal Balance of each such Class has
been reduced to zero;
(2) concurrently, in proportion to
their Class Certificate Principal Balances
or Component Principal Balance, as the case
may be, to the Class Al and Class A11
Certificates and the Class A12A PAC
Component of the Class A12 Certificates, up
to the amount necessary to reduce the
aggregate Class Certificate Principal
Balances and Component Principal Balances,
as the case may be, of the Class A1, Class
A2, Class A3 and Class A11
<PAGE>
Certificates and the Class A12A PAC
Component of the Class A12 Certificates
(together, the "PAC Certificates") to the
Aggregate PAC Balance (as set forth in the
Aggregate PAC Balances Table attached as
Appendix A hereto) for such Distribution
Date, until the Class Certificate Principal
Balances of the Class A1 and Class A11
Certificates and the Component Principal
Balance of the Class A12A PAC Component have
each been reduced to zero;
(3) sequentially, to the Class A2 and
Class A3 Certificates, up to the amount
necessary to reduce the aggregate Class
Certificate Principal Balances and Component
Principal Balance of the PAC Certificates to
the Aggregate PAC Balance (as set forth in
the Aggregate PAC Balances Table attached as
Appendix A hereto) for such Distribution
Date, such that no distribution will be made
to the Class A3 Certificates under this
clause (3) until the Class Certificate
Principal Balance of the Class A2
Certificates has been reduced to zero;
(4) to the Class A4 and Class A9
Certificates, the Class A7D Accrual
Component of the Class A7 Certificates and
the Class A12B TAC Component of the Class
A12 Certificates (together, the "TAC A
Certificates"), up to the amount necessary
to reduce the aggregate Class Certificate
Principal Balances and Component Principal
Balances thereof to the Aggregate TAC A
Balance (as set forth in the Aggregate TAC
Balances Table attached as Appendix B
hereto) for such Distribution Date, in the
following order of priority:
(I) to the Class A4 Certificates and
the Class A7D Accrual and the Class A12B
TAC Components (together, the "TAC B
Certificates"), up to the amount
necessary to reduce the aggregate Class
Certificate Principal Balance and
Component Principal Balances thereof to
the Aggregate TAC B Balance (as set forth
in the Aggregate TAC Balances Table
attached as Appendix B hereto) for such
Distribution Date, in the following order
of priority:
(w) pro rata, to the Class A4
Certificates and the Class A12B TAC
Component (together, the "TAC C
Certificates"), up to the amount
necessary to reduce the aggregate
Class Certificate Principal Balance
and Component Principal Balance
thereof to the Aggregate TAC C
Balance (as set forth in the
2
<PAGE>
Aggregate TAC Balances Table
attached as Appendix B hereto) for
such Distribution Date;
(x) concurrently, to the Class
A4 Certificates, Class A7D Accrual
Component and Class A12B TAC
Component, (1) approximately 65% of
the amount distributable pursuant to
this clause (x) pro rata, to the
Class A4 Certificates and the Class
A12B TAC Component and (2)
approximately 35% of the amount
distributable pursuant to this
clause (x) to the Class A7D Accrual
Component, until the earlier to
occur of (1) the Component Principal
Balance of the Class A7D Accrual
Component having been reduced to
zero or (2) both the Certificate
Principal Balance of the Class A4
Certificates and the Component
Principal Balance of the Class A12B
TAC Component having been reduced to
zero;
(y) to the Class A7D Accrual
Component, until the Component
Principal Balance thereof has been
reduced to zero; and
(z) pro rata, to the Class A4
Certificates and the Class A12B TAC
Component, until the Class
Certificate Principal Balance of
such Class and the Component
Principal Balance of such Component
have each been reduced to zero;
(II) to the Class A9 Certificates,
until the Class Certificate Principal
Balance thereof has been reduced to zero;
and
(III) to the TAC B Certificates,
without regard to the Aggregate TAC B
Balance for such Distribution Date, in
reduction of the Class Certificate
Principal Balance or Component Principal
Balance thereof, in the following order
of priority:
(w) pro rata, to the Class A4
Certificates and the Class A12B TAC
Component, up to the amount
necessary to reduce the aggregate
Class Certificate Principal Balance
and Component Principal Balance
thereof to the Aggregate TAC C
Balance (as set forth in the
Aggregate TAC
3
<PAGE>
Balances Table attached as Appendix
B hereto) for such Distribution Date;
(x) concurrently, to the Class
A4 Certificates, Class A7D Accrual
Component and Class A12B TAC
Component, (1) approximately 65% of
the amount distributable pursuant to
this clause (x) pro rata, to the
Class A4 Certificates and the Class
A12B TAC Component and (2)
approximately 35% of the amount
distributable pursuant to this
clause (x) to the Class A7D Accrual
Component, until the earlier to
occur of (1) the Component Principal
Balance of the Class A7D Accrual
Component having been reduced to
zero or (2) both the Certificate
Principal Balance of the Class A4
Certificates and the Component
Principal Balance of the Class A12B
TAC Component having been reduced to
zero;
(y) to the Class A7D Accrual
Component, until the Component
Principal Balance thereof has been
reduced to zero; and
(z) pro rata, to the Class A4
Certificates and the Class A12B TAC
Component, until the Class
Certificate Principal Balance of
such Class and the Component
Principal Balance of such Component
have each been reduced to zero;
(5) pro rata, to the Class A5 and Class
A6 Certificates, until the Class Certificate
Principal Balance of each such Class has
been reduced to zero;
(6) to the TAC A Certificates, without
regard to the Aggregate TAC A Balance for
such Distribution Date, in the following
order of priority:
(I) to the Class A4 Certificates,
Class A7D Accrual Component and the Class
A12B TAC Component, up to the amount
necessary to reduce the aggregate Class
Certificate Principal Balance and
Component Principal Balances thereof to
the Aggregate TAC B Balance (as set forth
in the Aggregate TAC Balances Table
attached as Appendix B hereto) for such
Distribution Date, in the following order
of Priority:
4
<PAGE>
(w) pro rata, to the Class A4
Certificates and the Class A12B TAC
Component, up to the amount
necessary to reduce the aggregate
Class Certificate Principal Balance
and Component Principal Balance
thereof to the Aggregate TAC C
Balance (as set forth in the
Aggregate TAC Balances Table
attached as Appendix B hereto) for
such Distribution Date;
(x) concurrently, to the Class
A4 Certificates, Class A7D Accrual
Component and Class A12B TAC
Component, (1) approximately 65% of
the amount distributable pursuant to
this clause (x) pro rata, to the
Class A4 Certificates and the Class
A12B TAC Component and (2)
approximately 35% of the amount
distributable pursuant to this
clause (x) to the Class A7D Accrual
Component, until the earlier to
occur of (1) the Component Principal
Balance of the Class A7D Accrual
Component having been reduced to
zero or (2) both the Certificate
Principal Balance of the Class A4
Certificates and the Component
Principal Balance of the Class A12B
TAC Component having been reduced to
zero;
(y) to the Class A7D Accrual
Component, until the Component
Principal Balance thereof has been
reduced to zero; and
(z) pro rata, to the Class A4
Certificates and the Class A12B TAC
Component, until the Class
Certificate Principal Balance of
such Class and the Component
Principal Balance of such Component
have each been reduced to zero;
(II) to the Class A9 Certificates,
until the Class Certificate Principal
Balance thereof has been reduced to zero;
and
(III) to the TAC B Certificates,
without regard to the Aggregate TAC B
Balance for such Distribution Date, in
reduction of the Class Certificate
Principal Balance or Component Principal
Balance of such Certificates, in the
following order of priority:
5
<PAGE>
(w) pro rata, to the Class A4
Certificates and the Class A12B TAC
Component, up to the amount
necessary to reduce the aggregate
Class Certificate Principal Balance
and Component Principal Balance
thereof to the Aggregate TAC C
Balance (as set forth in the
Aggregate TAC Balances TAC Balances
Table attached as Appendix B hereto)
for such Distribution Date;
(x) concurrently, to the Class
A4 Certificates, Class A7D Accrual
Component and Class A12B TAC
Component, (1) approximately 65% of
the amount distributable pursuant to
this clause (x) pro rata, to the
Class A4 Certificates and the Class
A12B TAC Component and (2)
approximately 35% of the amount
distributable pursuant to this
clause (x) to the Class A7D Accrual
Component, until the earlier to
occur of (1) the Component Principal
Balance of the Class A7D Accrual
Component having been reduced to
zero or (2) both the Certificate
Principal Balance of the Class A4
Certificates and the Component
Principal Balance of the Class A12B
TAC Component having been reduced to
zero;
(y) to the Class A7D Accrual
Component, until the Component
Principal Balance thereof has been
reduced to zero; and
(z) pro rata, to the Class A4
Certificates and the Class A12B TAC
Component, until the Class
Certificate Principal Balance of
such Class and the Component
Principal Balance of such Component
have each been reduced to zero;
(7) pro rata, to the Class A1 and Class
A11 Certificates and the Class A12A PAC
Component of the Class A12 Certificates,
without regard to the Aggregate PAC Balance
for such Distribution Date, until the Class
Certificate Principal Balances of such
Classes and the Component Principal Balance
of such Component have each been reduced to
zero; and
(8) sequentially, to the Class A2 and
Class A3 Certificates, without regard to the
Aggregate PAC Balance for such Distribution
Date, until the Class Certificate Principal
6
<PAGE>
Balance of each such Class has been reduced
to zero, such that no distribution will be
made to the Class A3 Certificates under this
clause until the Class Certificate Principal
Balance of the Class A2 Certificates has
been reduced to zero; and
(b) to the Class PO Certificates, the Class PO
Principal Distribution Amount for such Distribution Date
until the Class Certificate Principal Balance thereof has
been reduced to zero;
7
