GE CAPITAL MORTGAGE SERVICES INC
8-K, 1998-06-19
ASSET-BACKED SECURITIES
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IN ACCORDANCE WITH RULE 202 OF REGULATION S-T, THIS FORM 8-K IS
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BEING FILED IN PAPER PURSUANT TO A CONTINUING HARDSHIP EXEMPTION.
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                SECURITIES AND EXCHANGE COMMISSION
                       WASHINGTON, DC 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) May 26, 1998


                GE Capital Mortgage Services, Inc.
          (as Seller and Servicer under the Pooling and
           Servicing Agreement dated as of May 1, 1998,
         providing for the issuance of REMIC Multi-Class
            Pass-Through Certificates, Series 1998-10)



                GE Capital Mortgage Services, Inc.
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        (Exact Name of Registrant as Specified in Charter)


New Jersey                  33-5042             21-0627285
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State or Other           (Commission           (IRS Employer
Jurisdiction of          File Number)        Identification No.)
Incorporation)

Three Executive Campus
Cherry Hill, New Jersey                           08002
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(Address of Principal Executive Offices)        (Zip Code)


Registrant's telephone number, including area code (609) 661-6100
                                                    -------------


<PAGE>


Item 5.    Other Events.

           Attached as Exhibit 1 to this Current Report are
certain materials (the "Computational Materials") furnished to
the Registrant by Lehman Brothers Inc. ("Lehman") in respect of
certain classes of the Registrant's REMIC Multi-Class
Pass-Through Certificates, Series 1998-10 (the "Series 1998-10
Certificates"). Certain classes of the Series 1998-10
Certificates are being offered pursuant to a Prospectus dated May
26, 1998, as supplemented by related Prospectus Supplement dated
May 26, 1998 and a related Prospectus Supplement dated May 27,
1998, (together, the "Prospectus"), which are being filed with
the Commission pursuant to Rule 424(b) under the Securities Act
of 1933, as amended (the "Act"), substantially concurrently with
the filing of this Current Report. The Certificates have been
registered pursuant to the Act under a Registration Statement on
Form S-3 (No. 333-51151) (the "Registration Statement"). The
Registrant hereby incorporates the Computational Materials by
reference in the Registration Statement.

           The Computational Materials were prepared solely by
Lehman, an underwriter of certain classes of the Series 1998-10
Certificates, and the Registrant did not prepare or participate
in the preparation of the Computational Materials.

           Any statement or information contained in the
Computational Materials shall be deemed to be modified or
superseded for purposes of the Prospectus and the Registration
Statement by statements or information contained in the
Prospectus.


Item 7.    Financial Statements, Pro Forma Financial Information 
           and Exhibits.

(c)  Exhibits.


Exhibit 1.      Computational Materials (Lehman).


                                2
<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 hereunto duly
authorized.


                              GE Capital Mortgage Services, Inc.
                              ----------------------------------
                                         (Registrant)



Date: May 26, 1998            By    /s/ Mary Kaplan
      ------------               -------------------
                              Name:  Mary Kaplan
                              Title: Vice President


<PAGE>


                          EXHIBIT INDEX



The following exhibit is being filed herewith:


EXHIBIT NO.          DESCRIPTION                        PAGE
- -----------          -----------                        ----

    1                Computational Materials
                     (Lehman)


                                4



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