GE CAPITAL MORTGAGE SERVICES INC
8-K, 1999-05-27
ASSET-BACKED SECURITIES
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     IN ACCORDANCE WITH RULE 202 OF REGULATION S-T, THIS FORM 8-K IS BEING
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          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 24, 1999
                                                           ------------


                       GE Capital Mortgage Services, Inc.
                  (as Seller and Servicer under the Pooling and
                  Servicing Agreement dated as of May 1, 1999,
                  providing for the issuance of REMIC Mortgage
                   Pass-Through Certificates, Series 1999-12)


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


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


Three Executive Campus
Cherry Hill, New Jersey                                08002
- --------------------------------------------------------------------------------
(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 Merrill Lynch, Pierce,
Fenner & Smith Incorporated ("Merrill Lynch" as an Underwriter) and attached as
Exhibit 2 to this Current Report are the Computational Materials furnished to
the Registrant by Bear, Stearns & Co. Inc. ("Bear, Stearns" as an Underwriter,
and, together with Merrill Lynch, the "Underwriters") in respect of certain
classes of the Registrant's REMIC Mortgage Pass-Through Certificates, Series
1999-12 (the "Series 1999-12 Certificates"). Certain classes of the Series
1999-12 Certificates are being offered pursuant to a Prospectus dated April 22,
1999, as supplemented by a related Prospectus Supplement dated May 24, 1999
(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 filed by the Company and GE Capital Mortgage Funding
Corporation (file nos. 333-68951 and 333-68951-01) (the "Registration
Statement"). The Registrant hereby incorporates the Computational Materials by
reference in the Registration Statement.

     The Computational Materials were prepared solely by the Underwriters of
certain classes of the Series 1999-12 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 (Merrill Lynch, Pierce, Fenner & Smith
               Incorporated)
Exhibit 2.     Computational Materials (Bear, Stearns & Co. Inc.)


<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 24, 1999                      By    /s/  Mary Kaplan
      ------------                      ----------------------------------------
                                        Name:      Mary Kaplan
                                        Title:     Vice President


<PAGE>


                                  EXHIBIT INDEX


The following exhibits are being filed herewith:


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


     1              Computational Materials
                    (Merrill Lynch, Pierce, Fenner & Smith Incorporated)


     2              Computational Materials
                    (Bear, Stearns & Co. Inc.)




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