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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) April 26, 1999
GE CAPITAL MORTGAGE SERVICES, INC.
----------------------------------
(as Seller and Servicer under Pooling and
Servicing Agreements each providing for the
issuance of a Series of Mortgage Pass-Through Certificates)
GE Capital Mortgage Services, Inc.
----------------------------------
(formerly known as Travelers Mortgage Services, Inc.)
(Exact name of registrant as specified in its charter)
New Jersey 33-5042 21-0627285
---------- ------- ----------
(State or Other (Commission (I.R.S. Employer
Jurisdiction of File Number) Identification No.)
Incorporation)
Three Executive Campus
Cherry Hill, New Jersey 08002
----------------------- -----
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including
area code (609) 661-6100
<PAGE>
Item 5. Other Events
- ------- ------------
On April 26, 1999 GE Capital Mortgage Services, Inc. ("GECMSI") passed
through to Certificateholders of Mortgage Pass-Through Certificates principal
and interest payments as required for the various Series of Mortgage
Pass-Through Certificates listed below and as detailed in Item 7, Financial
Statements, Pro Forma Financial Information and Exhibits, of this Report.
Series Distribution on Series
- ------ ----------------------
Series 1999-01 $10,794,262.64
Series 1999-02 $4,992,602.20
Series 1999-03 $8,161,555.55
Series 1999-04 $5,696,261.23
Series 1999-05 $11,164,825.73
Series 1999-HE1 $17,005,173.80
Item 7. Financial Statements and Exhibits
- ------- ---------------------------------
Attached as Exhibits to Item 7 are the "Servicer's Certificate" and the
"Distribution Date Statement" filed as part of this Report.
Series Exhibit No. Description
------ ----------- -----------
Series 1999-01 99.1 Servicer's Certificate
99.2 Distribution Date Statment
Series 1999-02 99.3 Servicer's Certificate
99.4 Distribution Date Statment
Series 1999-04 99.5 Servicer's Certificate
99.6 Distribution Date Statment
Series 1999-03 99.7 Servicer's Certificate
99.8 Distribution Date Statment
Series 1999-05 99.9 Servicer's Certificate
99.10 Distribution Date Statment
Series 1999-01 HE 99.11 Servicer's Certificate
99.12 Distribution Date Statment
<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/ Tim Neer
----------------------------------
Name: Tim Neer
Title: Vice President, Investor Relations
Dated as of : April 26, 1999
<PAGE>
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
- ----------- -----------
99.1 Series 1999-01 Servicer's Certificate
99.2 Series 1999-01 Distribution Date Statement
99.3 Series 1999-02 Servicer's Certificate
99.4 Series 1999-02 Distribution Date Statement
99.5 Series 1999-04 Servicer's Certificate
99.6 Series 1999-04 Distribution Date Statement
99.7 Series 1999-03 Servicer's Certificate
99.8 Series 1999-03 Distribution Date Statement
99.9 Series 1999-05 Servicer's Certificate
99.10 Series 1999-05 Distribution Date Statement
99.11 Series 1999-01HE Servicer's Certificate
99.12 Series 1999-01 HE Distribution Date Statement
Exhibit 99.01
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
April, 1999
Series 1999-01, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1999 (the
"Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (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 $ 573,648.68
---------------
(b) Interest $ 4,083,282.86
---------------
(c) Total $ 4,656,931.54
---------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 407,871.82
---------------
(b) Interest $ 2,892,187.41
---------------
(c) Total $ 3,300,059.23
---------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 165,776.86
---------------
(b) Interest $ 1,191,095.45
---------------
(c) Total $ 1,356,872.31
---------------
4. Aggregate Principal Prepayments in part received in the applicable
Prepayment Period:
(a) Principal $ 125,157.65
---------------
5. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $ 5,752,155.88
---------------
(b) Interest $ 33,870.59
---------------
(c) Total $ 5,786,026.47
---------------
6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 0.00
---------------
7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 0.00
---------------
8. Aggregate Deficient Valuations with respect to the Mortgage
Loans during the prior month: $ 0.00
---------------
9. Aggregate Debt Service Reductions with respect to the Mortgage Loans
during the prior month: $ 0.00
---------------
10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 0.00
---------------
11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 620,646.76
---------------
(b) Interest $ 3,168.72
---------------
(c) Total $ 623,815.48
---------------
12. Pool Scheduled Principal Balance: $ 681,170,446.18
---------------
13. Available Funds: $ 10,801,012.72
---------------
14. Realized Losses for prior month: $ 0.00
---------------
15. Aggregate Realized Losses
(a) Aggregate Realized Losses: $ 0.00
------------------------
(b) Deficient Valuations: $ 0.00
------------------------
(c) Debt Service Reductions: $ 0.00
------------------------
(d) Bankruptcy Losses: $ 0.00
------------------------
(e) Special Hazard Losses: $ 0.00
------------------------
(f) Fraud Losses: $ 0.00
------------------------
(g) Excess Bankruptcy Losses: $ 0.00
------------------------
(h) Excess Special Hazard Losses: $ 0.00
------------------------
(i) Excess Fraud Losses: $ 0.00
------------------------
16. Non-Credit Losses: $ 0.00
---------------
17. Compensating Interest Payment: $ 4,145.94
---------------
18. Total interest payments: $ 3,729,403.76
---------------
19. Interest
Unpaid Class
Accrued Certificate Interest Shortfalls Interest
Class Interest Payable Pay-out Rate
- ----- -------- ------------------- ------- ------------
R $ 0.00 $ 0.00 $ 0.00 % 0.000000000
PO $ 0.00 $ 0.00 $ 0.00 % 0.000000000
A1 $ 365,380.30 $ 0.00 $ 365,380.30 % 6.500000019
A2 $ 3,005,421.57 $ 0.00 $ 3,005,421.57 % 6.500000001
A3 $ 7,583.33 $ 0.00 $ 7,583.33 % 6.499997143
A4 $ 45,181.21 $ 0.00 $ 45,181.21 % 6.500000360
A5 $ 40,997.96 $ 0.00 $ 40,997.96 % 6.500000132
A6 $ 18,958.33 $ 0.00 $ 18,958.33 % 6.499998857
A7 $ 14,000.00 $ 0.00 $ 14,000.00 % 8.000000000
A8 $ 7,583.33 $ 0.00 $ 7,583.33 % 6.499997143
A9 $ 7,583.33 $ 0.00 $ 7,583.33 % 6.499997143
A10 $ 7,583.33 $ 0.00 $ 7,583.33 % 6.499997143
A11 $ 7,583.33 $ 0.00 $ 7,583.33 % 6.499997143
A12 $ 16,250.00 $ 0.00 $ 16,250.00 % 6.500000000
A13 $ 22,000.00 $ 0.00 $ 22,000.00 % 8.000000000
A14 $ 5,416.67 $ 0.00 $ 5,416.67 % 6.500004000
A15 $ 5,416.67 $ 0.00 $ 5,416.67 % 6.500004000
M $ 70,514.78 $ 0.00 $ 70,514.78 % 6.500000145
B1 $ 30,492.88 $ 0.00 $ 30,492.88 % 6.500000392
B2 $ 17,152.24 $ 0.00 $ 17,152.24 % 6.499998880
B3 $ 17,152.24 $ 0.00 $ 17,152.24 % 6.499998880
B4 $ 7,623.22 $ 0.00 $ 7,623.22 % 6.500003844
B5 $ 9,529.04 $ 0.00 $ 9,529.04 % 6.500000719
20. Principal Distribution Amount: $ 7,071,608.96
---------------
21. Principal Distribution Amount per Certificate:
Principal Distribution Accrual Amount
---------------------- --------------
Class R $ 0.00 $ 0.00
Class PO $ 1,156.18 $ 0.00
Class A1 $ 56,210.14 $ 0.00
Class A2 $ 6,990,787.50 $ 0.00
Class A3 $ 0.00 $ 0.00
Class A4 $ 0.00 $ 0.00
Class A5 $ 0.00 $ 0.00
Class A6 $ 0.00 $ 0.00
Class A7 $ 0.00 $ 0.00
Class A8 $ 0.00 $ 0.00
Class A9 $ 0.00 $ 0.00
Class A10 $ 0.00 $ 0.00
Class A11 $ 0.00 $ 0.00
Class A12 $ 0.00 $ 0.00
Class A13 $ 0.00 $ 0.00
Class A14 $ 0.00 $ 0.00
Class A15 $ 0.00 $ 0.00
Class SUP $ 0.00 $ 0.00
Class M $ 10,848.00 $ 0.00
Class B1 $ 4,691.03 $ 0.00
Class B2 $ 2,638.70 $ 0.00
Class B3 $ 2,638.70 $ 0.00
Class B4 $ 1,172.76 $ 0.00
Class B5 $ 1,465.95 $ 0.00
22. Additional distributions to the Class R Certificate pursuant to the
Agreement:
$ 0.00
---------------
23. Additional distributions to the Class RL Certificate pursuant to the
Agreement:
$ 0.00
---------------
24. Subordinate Certificate Writedown Amount: $ 0.00
---------------
Accumulative
Class Supported Shortfall Supported Shortfall
----- ------------------- -------------------
B1 $ 0.00 $ 0.00
B2 $ 0.00 $ 0.00
B3 $ 0.00 $ 0.00
B4 $ 0.00 $ 0.00
B5 $ 0.00 $ 0.00
25. Unanticipated Recoveries: $ 0.00
---------------
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution Triggers satisfied:
Yes No
--- --
Class-B1 X
Class-B2 X
Class-B3 X
Class-B4 X
Class-B5 X
2. Base Servicing Fee amount: $ 159,053.57
-----------
3. Supplemental Servicing Fee amount: $ 254,466.18
-----------
4. Credit Losses for prior month: $ 0.00
-----------
Category Category Category
A B C
5. Senior Percentage: % 95.904416 N/A N/A N/A
----------- ---- ------ ------
6. Group I Senior Percentage:
% N/A N/A N/A N/A
----------- ---- ------ ------
7. Group II Senior Percentage:
% N/A N/A N/A N/A
----------- ---- ------ ------
8. Senior Prepayment Percentage:
%100.000000 N/A N/A N/A
----------- ---- ------ ------
9. Group I Senior Prepayment
Percentage: % N/A N/A N/A N/A
----------- ---- ------ ------
10. Group II Senior Prepayment
Percentage: % N/A N/A N/A N/A
----------- ---- ------ ------
11. Junior Percentage: % 4.095584
-----------
12. Junior Prepayment Percentage:
% 0.000000
-----------
Capitalized terms used in this Certificate shall have the same meanings as in
the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Tim Neer
-------------------------------
Tim Neer
Vice President
Investor Operations
Exhibit 99.02
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
April, 1999
Series 1999-01, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1999 (the
"Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
Weighted average coupon % 7.191267
---------------------
Weighted average maturity 352.57
---------------------
A. Amount of distribution allocable to principal and interest: The amounts
below are for a Single Certificate of $1,000:
1.
Principal
Principal Per Prepayments Per Interest Per
Class Certificate Certificate Certificate Payout Rate
----- ----------- ----------- ----------- -----------
R $ 0.00000000 $ 0.00000000 $ 0.00000000 %0.00000000
PO $ 1.17031879 $ 0.20340739 $ 0.00000000 %0.00000000
A1 $ 0.83193197 $ 0.76709176 $ 5.40777079 %6.50000002
A2 $ 12.23701688 $ 11.28327195 $ 5.26083713 %6.50000000
A3 $ 0.00000000 $ 0.00000000 $ 5.41666429 %6.49999714
A4 $ 0.00000000 $ 0.00000000 $ 5.41666697 %6.50000036
A5 $ 0.00000000 $ 0.00000000 $ 5.41666678 %6.50000013
A6 $ 0.00000000 $ 0.00000000 $ 5.41666571 %6.49999886
A7 $ 0.00000000 $ 0.00000000 $ 6.66666667 %8.00000000
A8 $ 0.00000000 $ 0.00000000 $ 5.41666429 %6.49999714
A9 $ 0.00000000 $ 0.00000000 $ 5.41666429 %6.49999714
A10 $ 0.00000000 $ 0.00000000 $ 5.41666429 %6.49999714
A11 $ 0.00000000 $ 0.00000000 $ 5.41666429 %6.49999714
A12 $ 0.00000000 $ 0.00000000 $ 5.41666667 %6.50000000
A13 $ 0.00000000 $ 0.00000000 $ 6.66666667 %8.00000000
A14 $ 0.00000000 $ 0.00000000 $ 5.41667000 %6.50000400
A15 $ 0.00000000 $ 0.00000000 $ 5.41667000 %6.50000400
M $ 0.83193195 $ 0.00000000 $ 5.40777089 %6.50000015
B1 $ 0.83193245 $ 0.00000000 $ 5.40777110 %6.50000039
B2 $ 0.83193112 $ 0.00000000 $ 5.40776984 %6.49999888
B3 $ 0.83193112 $ 0.00000000 $ 5.40776984 %6.49999888
B4 $ 0.83193467 $ 0.00000000 $ 5.40777397 %6.50000384
B5 $ 0.83193296 $ 0.00000000 $ 5.40777138 %6.50000072
2. Unanticipated Recoveries: $ 0.00
----------------
B. Accrual Amount
1.
Accrual Amount
Class
N/A $ N/A
2. The amount of servicing compensation received by the Company during
the month preceding the month of distribution:
$ 159,053.57
-----------------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 681,170,446.18
-----------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 2,070
----------
3.
Beginning Aggregate Class Ending Aggregate Ending
Certificate Principal Class Certificate Single Certificate
Class Balance Principal Balance Balance Cusip
- ----- ------- ----------------- ------- -----
R $ 0.00 $ 0.00 $ 0.00 36157RZY4
PO $ 982,898.47 $ 981,742.29 $ 993.75 GEC9901PO
A1 $ 67,454,824.42 $ 67,398,614.28 $ 997.53 36157RZH1
A2 $ 554,847,058.98 $547,856,271.48 $ 958.99 36157RZJ7
A3 $ 1,400,000.00 $ 1,400,000.00 $ 1,000.00 36157RZK4
A4 $ 8,341,146.00 $ 8,341,146.00 $ 1,000.00 36157RZL2
A5 $ 7,568,854.00 $ 7,568,854.00 $ 1,000.00 36157RZM0
A6 $ 3,500,000.00 $ 3,500,000.00 $ 1,000.00 36157RZN8
A7 $ 2,100,000.00 $ 2,100,000.00 $ 1,000.00 36157RZP3
A8 $ 1,400,000.00 $ 1,400,000.00 $ 1,000.00 36157RZQ1
A9 $ 1,400,000.00 $ 1,400,000.00 $ 1,000.00 36157RZR9
A10 $ 1,400,000.00 $ 1,400,000.00 $ 1,000.00 36157RZS7
A11 $ 1,400,000.00 $ 1,400,000.00 $ 1,000.00 36157RZT5
A12 $ 3,000,000.00 $ 3,000,000.00 $ 1,000.00 36157RZU2
A13 $ 3,300,000.00 $ 3,300,000.00 $ 1,000.00 36157RZV0
A14 $ 1,000,000.00 $ 1,000,000.00 $ 1,000.00 36157RZW8
A15 $ 1,000,000.00 $ 1,000,000.00 $ 1,000.00 36157RZX6
SUP $ 647,549,072.30 $640,526,548.00 $ 964.54 GEC991SUP
M $ 13,018,112.94 $ 13,007,264.94 $ 997.53 36157RZZ1
B1 $ 5,629,454.43 $ 5,624,763.40 $ 997.53 36157RA21
B2 $ 3,166,567.93 $ 3,163,929.23 $ 997.53 36157RA39
B3 $ 3,166,567.93 $ 3,163,929.23 $ 997.53 36157RA47
B4 $ 1,407,362.86 $ 1,406,190.10 $ 997.53 36157RA54
B5 $ 1,759,207.19 $ 1,757,741.24 $ 997.53 36157RA62
D. The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the
month preceding the related Determination Date, were delinquent:
1. 30-59 days
Number 15 Principal Balance $ 5,126,548.47
-------- -------------
2. 60-89 days
Number 3 Principal Balance $ 1,382,738.98
-------- -------------
3. 90 days or more
Number 1 Principal Balance $ 134,000.00
-------- -------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
-------- -------------
5. Real Estate Owned
Number 0 Principal Balance $ 0.00
-------- -------------
6. The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to the Pooling And Servicing Agreement:
$ 0.00
------------
E. Other Information:
1. Special Hazard Loss Amount: $ 0.00
---------------
2. Bankruptcy Loss Amount: $ 0.00
---------------
3. Fraud Loss Amount: $ 0.00
---------------
4. Certificate Interest Rate of the Class S Certificate: % 0.00000000
-----------
G.
Rounding Amount
Opening Reimbursement (Withdrawl) Closing
Class Balance Amount Balance
- ----- ------- ------ --------------- -------
A7_INT $ 42,000.00 $ 0.00 $ 0.00 $ 34,125.00
A13_INT $ 49,500.00 $ 0.00 $ 0.00 $ 37,125.00
A6 $ 999.99 $ 0.00 $ 0.00 $ 999.99
A12 $ 999.99 $ 0.00 $ 0.00 $ 999.99
A14 $ 999.99 $ 0.00 $ 0.00 $ 999.99
A15 $ 999.99 $ 0.00 $ 0.00 $ 999.99
Exhibit 99.03
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
April, 1999
Series 1999-02, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of February 1, 1999
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (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 $ 237,375.29
---------------
(b) Interest $ 1,721,696.55
---------------
(c) Total $ 1,959,071.84
---------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 223,651.74
---------------
(b) Interest $ 1,626,826.87
---------------
(c) Total $ 1,850,478.61
---------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 13,723.55
---------------
(b) Interest $ 94,869.68
---------------
(c) Total $ 108,593.23
---------------
4. Aggregate Principal Prepayments in part received in the applicable
Prepayment Period:
(a) Principal $ 63,273.86
---------------
5. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $ 3,117,775.74
---------------
(b) Interest $ 13,958.58
---------------
(c) Total $ 3,131,734.32
---------------
6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 0.00
---------------
7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 0.00
---------------
8. Aggregate Deficient Valuations with respect to the Mortgage
Loans during the prior month: $ 0.00
---------------
9. Aggregate Debt Service Reductions with respect to the Mortgage Loans
during the prior month: $ 0.00
---------------
10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 0.00
---------------
11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 0.00
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 0.00
---------------
12. Pool Scheduled Principal Balance: $ 287,859,364.63
---------------
13. Available Funds: $ 4,992,602.14
---------------
14. Realized Losses for prior month: $ 0.00
---------------
15. Aggregate Realized Losses
(a) Aggregate Realized Losses: $ 0.00
------------------------
(b) Deficient Valuations: $ 0.00
------------------------
(c) Debt Service Reductions: $ 0.00
------------------------
(d) Bankruptcy Losses: $ 0.00
------------------------
(e) Special Hazard Losses: $ 0.00
------------------------
(f) Fraud Losses: $ 0.00
------------------------
(g) Excess Bankruptcy Losses: $ 0.00
------------------------
(h) Excess Special Hazard Losses: $ 0.00
------------------------
(i) Excess Fraud Losses: $ 0.00
------------------------
16. Non-Credit Losses: $ 0.00
---------------
17. Compensating Interest Payment: $ 9,020.98
---------------
18. Total interest payments: $ 1,574,177.25
---------------
19. Interest
Unpaid Class
Accrued Certificate Interest Shortfalls Interest
Class Interest Payable Pay-out Rate
- ----- -------- ------------------- ------- ------------
R $ 0.00 $ 0.00 $ 0.00 % 0.000000000
PO $ 0.00 $ 0.00 $ 0.00 % 0.000000000
A1 $ 1,259,486.99 $ 0.00 $ 1,259,486.99 % 6.499999980
A2 $ 88,421.67 $ 0.00 $ 88,421.67 % 6.500000245
A3 $ 148,010.42 $ 0.00 $ 148,010.42 % 6.500000146
A4 $ 10,833.33 $ 0.00 $ 10,833.33 % 6.499998000
M $ 33,312.53 $ 0.00 $ 33,312.53 % 6.500000633
B1 $ 11,901.58 $ 0.00 $ 11,901.58 % 6.499998104
B2 $ 7,138.79 $ 0.00 $ 7,138.79 % 6.500004397
B3 $ 7,928.98 $ 0.00 $ 7,928.98 % 6.500002675
B4 $ 3,177.00 $ 0.00 $ 3,177.00 % 6.499993981
B5 $ 3,965.96 $ 0.00 $ 3,965.96 % 6.499992017
20. Principal Distribution Amount: $ 3,418,424.89
----------------
21. Principal Distribution Amount per Certificate:
Principal Distribution Accrual Amount
---------------------- --------------
Class R $ 0.00 $ 0.00
Class PO $ 814.63 $ 0.00
Class A1 $ 3,407,469.40 $ 0.00
Class A2 $ 0.00 $ 0.00
Class A3 $ 0.00 $ 0.00
Class A4 $ 0.00 $ 0.00
Class SUP $ 0.00 $ 0.00
Class M $ 5,010.28 $ 0.00
Class B1 $ 1,790.03 $ 0.00
Class B2 $ 1,073.69 $ 0.00
Class B3 $ 1,192.54 $ 0.00
Class B4 $ 477.83 $ 0.00
Class B5 $ 596.49 $ 0.00
22. Additional distributions to the Class R Certificate pursuant to the
Agreement:
$ 0.00
--------------
23. Additional distributions to the Class RL Certificate pursuant to the
Agreement:
$ 0.00
--------------
24. Subordinate Certificate Writedown Amount: $ 0.00
--------------
Accumulative
Class Supported Shortfall Supported Shortfall
----- ------------------- -------------------
B1 $ 0.00 $ 0.00
B2 $ 0.00 $ 0.00
B3 $ 0.00 $ 0.00
B4 $ 0.00 $ 0.00
B5 $ 0.00 $ 0.00
25. Unanticipated Recoveries: $ 0.00
--------------
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution Triggers satisfied:
Yes No
--- --
Class-B1 X
Class-B2 X
Class-B3 X
Class-B4 X
Class-B5 X
2. Base Servicing Fee amount: $ 64,794.99
-----------
3. Supplemental Servicing Fee amount: $ 106,875.20
-----------
4. Credit Losses for prior month: $ 0.00
-----------
Category Category Category
A B C
5. Senior Percentage: % 95.716820 N/A N/A N/A
----------- ---- ------ ------
6. Group I Senior Percentage:
% N/A N/A N/A N/A
----------- ---- ------ ------
7. Group II Senior Percentage:
% N/A N/A N/A N/A
----------- ---- ------ ------
8. Senior Prepayment Percentage:
%100.000000 N/A N/A N/A
----------- ---- ------ ------
9. Group I Senior Prepayment
Percentage: % N/A N/A N/A N/A
----------- ---- ------ ------
10. Group II Senior Prepayment
Percentage: % N/A N/A N/A N/A
----------- ---- ------ ------
11. Junior Percentage: % 4.283180
-----------
12. Junior Prepayment Percentage:
% 0.000000
-----------
Capitalized terms used in this Certificate shall have the same meanings as in
the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Tim Neer
-------------------------------
Tim Neer
Vice President
Investor Operations
Exhibit 99.04
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
April, 1999
Series 1999-02, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of February 1, 1999
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
Weighted average coupon % 7.17494
------------------------
Weighted average maturity 355.10
------------------------
A. Amount of distribution allocable to principal and interest: The amounts
below are for a Single Certificate of $1,000:
1.
Principal
Principal Per Prepayments Per Interest Per
Class Certificate Certificate Certificate Payout Rate
----- ----------- ----------- ----------- -----------
R $ 0.00000000 $ 0.00000000 $ 0.00000000 %0.00000000
PO $ 1.23223602 $ 0.30145258 $ 0.00000000 %0.00000000
A1 $ 14.53984508 $ 13.57284991 $ 5.37429499 %6.49999998
A2 $ 0.00000000 $ 0.00000000 $ 5.41666687 %6.50000025
A3 $ 0.00000000 $ 0.00000000 $ 5.41666679 %6.50000015
A4 $ 0.00000000 $ 0.00000000 $ 5.41666500 %6.49999800
M $ 0.81401787 $ 0.00000000 $ 5.41227132 %6.50000063
B1 $ 0.81402001 $ 0.00000000 $ 5.41226921 %6.49999810
B2 $ 0.81401820 $ 0.00000000 $ 5.41227445 %6.50000440
B3 $ 0.81402048 $ 0.00000000 $ 5.41227304 %6.50000267
B4 $ 0.81402044 $ 0.00000000 $ 5.41226576 %6.49999398
B5 $ 0.81401765 $ 0.00000000 $ 5.41226414 %6.49999202
2. Unanticipated Recoveries: $ 0.00
---------------
B. Accrual Amount
1.
Accrual Amount
Class
N/A $ N/A
2. The amount of servicing compensation received by the Company during
the month preceding the month of distribution:
$ 64,794.99
------------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 287,859,364.63
---------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 843
---------------
3.
Beginning Aggregate Class Ending Aggregate Ending
Certificate Principal Class Certificate Single Certificate
Class Balance Principal Balance Balance Cusip
- ----- ------- ----------------- ------- -----
R $ 0.00 $ 0.00 $ 0.00 36157RB38
PO $ 660,450.92 $ 659,636.29 $ 997.79 GEC9902PO
A1 $ 232,520,675.79 $ 229,113,206.39 $ 977.64 36157RA70
A2 $ 16,324,000.00 $ 16,324,000.00 $ 1,000.00 36157RA88
A3 $ 27,325,000.00 $ 27,325,000.00 $ 1,000.00 36157RA96
A4 $ 2,000,000.00 $ 2,000,000.00 $ 1,000.00 36157RB20
SUP $ 269,180,851.54 $ 265,789,760.36 $ 980.76 GEC992SUP
M $ 6,150,004.94 $ 6,144,994.66 $ 998.37 36157RB46
B1 $ 2,197,215.41 $ 2,195,425.39 $ 998.37 36157RB53
B2 $ 1,317,929.57 $ 1,316,855.88 $ 998.37 36157RB61
B3 $ 1,463,811.09 $ 1,462,618.55 $ 998.37 36157RC78
B4 $ 586,523.62 $ 586,045.79 $ 998.37 36157RC86
B5 $ 732,178.13 $ 731,581.64 $ 998.37 36157RC94
D. The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the
month preceding the related Determination Date, were delinquent:
1. 30-59 days
Number 10 Principal Balance $ 3,948,275.81
-------- -------------
2. 60-89 days
Number 2 Principal Balance $ 953,692.14
-------- -------------
3. 90 days or more
Number 0 Principal Balance $ 0.00
-------- -------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
-------- -------------
5. Real Estate Owned
Number 0 Principal Balance $ 0.00
-------- -------------
6. The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to the Pooling And Servicing Agreement:
$ 0.00
------------
E. Other Information:
1. Special Hazard Loss Amount: $ 0.00
---------------
2. Bankruptcy Loss Amount: $ 0.00
---------------
3. Fraud Loss Amount: $ 0.00
---------------
4. Certificate Interest Rate of the Class S Certificate: % 0.00000000
------------
Exhibit 99.05
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
April, 1999
Series 1999-04, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of February 1, 1999
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (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 $ 738,054.91
---------------
(b) Interest $ 1,233,765.16
---------------
(c) Total $ 1,971,820.07
---------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 562,995.14
---------------
(b) Interest $ 940,294.66
---------------
(c) Total $ 1,503,289.80
---------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 175,059.77
---------------
(b) Interest $ 293,470.50
---------------
(c) Total $ 468,530.27
---------------
4. Aggregate Principal Prepayments in part received in the applicable
Prepayment Period:
(a) Principal $ 484,630.61
---------------
5. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $ 2,628,051.01
---------------
(b) Interest $ 18,608.43
---------------
(c) Total $ 2,646,659.44
---------------
6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 0.00
---------------
7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 0.00
---------------
8. Aggregate Deficient Valuations with respect to the Mortgage
Loans during the prior month: $ 0.00
---------------
9. Aggregate Debt Service Reductions with respect to the Mortgage Loans
during the prior month: $ 0.00
---------------
10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 0.00
---------------
11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 704,315.76
---------------
(b) Interest $ 2,657.28
---------------
(c) Total $ 706,973.04
---------------
12. Pool Scheduled Principal Balance: $ 214,949,106.37
---------------
13. Available Funds: $ 5,696,261.26
---------------
14. Realized Losses for prior month: $ 0.00
---------------
15. Aggregate Realized Losses
(a) Aggregate Realized Losses: $ 0.00
------------------------
(b) Deficient Valuations: $ 0.00
------------------------
(c) Debt Service Reductions: $ 0.00
------------------------
(d) Bankruptcy Losses: $ 0.00
------------------------
(e) Special Hazard Losses: $ 0.00
------------------------
(f) Fraud Losses: $ 0.00
------------------------
(g) Excess Bankruptcy Losses: $ 0.00
------------------------
(h) Excess Special Hazard Losses: $ 0.00
------------------------
(i) Excess Fraud Losses: $ 0.00
------------------------
16. Non-Credit Losses: $ 0.00
---------------
17. Compensating Interest Payment: $ 5,048.63
---------------
18. Total interest payments: $ 1,141,208.91
---------------
19. Interest
Unpaid Class
Accrued Certificate Interest Shortfalls Interest
Class Interest Payable Pay-out Rate
- ----- -------- ------------------- ------- ------------
R $ 0.00 $ 0.00 $ 0.00 %0.000000000
PO $ 0.00 $ 0.00 $ 0.00 %0.000000000
A1 $ 558,892.48 $ 0.00 $ 558,892.48 %6.249999957
A2 $ 163,565.00 $ 0.00 $ 163,565.00 %6.250000000
A3 $ 281,121.62 $ 0.00 $ 281,121.62 %6.250000076
A4 $ 114,205.87 $ 0.00 $ 114,205.87 %6.250000154
M $ 8,783.47 $ 0.00 $ 8,783.47 %6.250000408
B1 $ 2,927.82 $ 0.00 $ 2,927.82 %6.249993329
B2 $ 2,927.82 $ 0.00 $ 2,927.82 %6.249993329
B3 $ 5,270.08 $ 0.00 $ 5,270.08 %6.249998023
B4 $ 1,756.69 $ 0.00 $ 1,756.69 %6.249986102
B5 $ 1,758.06 $ 0.00 $ 1,758.06 %6.250004444
20. Principal Distribution Amount: $ 4,555,052.35
--------------
21. Principal Distribution Amount per Certificate:
Principal Distribution Accrual Amount
---------------------- --------------
Class R $ 0.00 $ 0.00
Class PO $ 1,475.81 $ 0.00
Class A1 $ 2,269,227.97 $ 0.00
Class A2 $ 344,520.00 $ 0.00
Class A3 $ 1,850,985.95 $ 0.00
Class A4 $ 73,722.02 $ 0.00
Class SUP $ 0.00 $ 0.00
Class M $ 5,669.89 $ 0.00
Class B1 $ 1,889.96 $ 0.00
Class B2 $ 1,889.96 $ 0.00
Class B3 $ 3,401.94 $ 0.00
Class B4 $ 1,133.98 $ 0.00
Class B5 $ 1,134.86 $ 0.00
22. Additional distributions to the Class R Certificate pursuant to the
Agreement:
$ 0.00
---------------
23. Additional distributions to the Class RL Certificate pursuant to the
Agreement:
$ 0.00
---------------
24. Subordinate Certificate Writedown Amount: $ 0.00
---------------
Accumulative
Class Supported Shortfall Supported Shortfall
----- ------------------- -------------------
B1 $ 0.00 $ 0.00
B2 $ 0.00 $ 0.00
B3 $ 0.00 $ 0.00
B4 $ 0.00 $ 0.00
B5 $ 0.00 $ 0.00
25. Unanticipated Recoveries: $ 0.00
---------------
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution Triggers satisfied:
Yes No
--- --
Class-B1 X
Class-B2 X
Class-B3 X
Class-B4 X
Class-B5 X
2. Base Servicing Fee amount: $ 50,442.09
----------
3. Supplemental Servicing Fee amount: $ 68,651.70
----------
4. Credit Losses for prior month: $ 0.00
----------
Category Category Category
A B C
5. Senior Percentage: % 97.947444 N/A N/A N/A
----------- ---- ------ ------
6. Group I Senior Percentage:
% N/A N/A N/A N/A
----------- ---- ------ ------
7. Group II Senior Percentage:
% N/A N/A N/A N/A
----------- ---- ------ ------
8. Senior Prepayment Percentage:
%100.000000 N/A N/A N/A
----------- ---- ------ ------
9. Group I Senior Prepayment
Percentage: % N/A N/A N/A N/A
----------- ---- ------ ------
10. Group II Senior Prepayment
Percentage: % N/A N/A N/A N/A
----------- ---- ------ ------
11. Junior Percentage: % 2.052556
-----------
12. Junior Prepayment Percentage:
% 0.000000
-----------
Capitalized terms used in this Certificate shall have the same meanings as in
the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Tim Neer
-------------------------------
Tim Neer
Vice President
Investor Operations
Exhibit 99.06
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
April, 1999
Series 1999-04, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of February 1, 1999
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
Weighted average coupon % 6.868077
-----------------------
Weighted average maturity 174.02
-----------------------
A. Amount of distribution allocable to principal and interest: The amounts
below are for a Single Certificate of $1,000:
1.
Principal
Principal Per Prepayments Per Interest Per
Class Certificate Certificate Certificate Payout Rate
----- ----------- ----------- ----------- -----------
R $ 0.00000000 $ 0.00000000 $ 0.00000000 %0.00000000
PO $ 3.75010323 $ 0.26434517 $ 0.00000000 %0.00000000
A1 $ 20.56410089 $ 15.59341189 $ 5.06477159 %6.24999996
A2 $ 10.85136539 $ 8.22840782 $ 5.15181581 %6.25000000
A3 $ 32.70293197 $ 24.79808346 $ 4.96681307 %6.25000008
A4 $ 3.3510009 $ 2.54100759 $ 5.19117591 %6.25000015
M $ 3.35099881 $ 0.00000000 $ 5.19117612 %6.25000041
B1 $ 3.35099290 $ 0.00000000 $ 5.19117021 %6.24999333
B2 $ 3.35099290 $ 0.00000000 $ 5.19117021 %6.24999333
B3 $ 3.35100472 $ 0.00000000 $ 5.19117415 %6.24999802
B4 $ 3.94202127 $ 0.00000000 $ 5.19116430 %6.24998610
B5 $ 3.35100163 $ 0.00000000 $ 5.19117948 %6.25000444
2. Unanticipated Recoveries: $ 0.00
---------------
B. Accrual Amount
1.
Accrual Amount
Class
N/A $ N/A
2. The amount of servicing compensation received by the Company during
the month preceding the month of distribution:
$ 50,442.09
------------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 214,949,106.37
---------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 673
------------
3.
Beginning Aggregate Class Ending Aggregate Ending
Certificate Principal Class Certificate Single Certificate
Class Balance Principal Balance Balance Cusip
- ----- ------- ----------------- ------- -----
R $ 0.00 $ 0.00 $ 0.00 36157RC37
PO $ 392,046.70 $ 390,570.89 $ 992.46 GEC9904PO
A1 $ 107,307,356.89 $ 105,038,128.92 $ 951.87 36157RB79
A2 $ 31,404,480.00 $ 31,059,960.00 $ 978.30 36157RB87
A3 $ 53,975,350.38 $ 52,124,364.43 $ 920.93 36157RB95
A4 $ 21,927,526.50 $ 21,853,804.48 $ 993.35 36157RC29
SUP $ 204,007,857.88 $ 199,511,111.70 $ 949.83 GEC994SUP
M $ 1,686,426.13 $ 1,680,756.24 $ 993.35 36157RC45
B1 $ 562,142.04 $ 560,252.08 $ 993.35 36157RC52
B2 $ 562,142.04 $ 560,252.08 $ 993.35 36157RC60
B3 $ 1,011,855.68 $ 1,008,453.74 $ 993.35 36158GEX2
B4 $ 337,285.23 $ 336,151.25 $ 993.35 36158GEY0
B5 $ 337,547.28 $ 336,412.42 $ 993.35 36158GEZ7
D. The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the
month preceding the related Determination Date, were delinquent:
1. 30-59 days
Number 9 Principal Balance $ 2,607,902.74
-------- -------------
2. 60-89 days
Number 0 Principal Balance $ 0.00
-------- -------------
3. 90 days or more
Number 0 Principal Balance $ 0.00
-------- -------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
-------- -------------
5. Real Estate Owned
Number 0 Principal Balance $ 0.00
-------- -------------
6. The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to the Pooling And Servicing Agreement:
$ 0.00
------------
E. Other Information:
1. Special Hazard Loss Amount: $ 0.00
---------------
2. Bankruptcy Loss Amount: $ 0.00
---------------
3. Fraud Loss Amount: $ 0.00
---------------
4. Certificate Interest Rate of the Class S Certificate: % 0.00000000
-----------
Exhibit 99.07
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
April, 1999
Series 1999-03, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1999 (the
"Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (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 $ 410,819.57
---------------
(b) Interest $ 2,956,946.47
---------------
(c) Total $ 3,367,766.04
---------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 351,884.09
---------------
(b) Interest $ 2,546,891.37
---------------
(c) Total $ 2,898,775.46
---------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 58,935.48
---------------
(b) Interest $ 410,055.10
---------------
(c) Total $ 468,990.58
---------------
4. Aggregate Principal Prepayments in part received in the applicable
Prepayment Period:
(a) Principal $ 345,102.23
---------------
5. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $ 3,632,965.86
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 3,632,965.86
---------------
6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 0.00
---------------
7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 0.00
---------------
8. Aggregate Deficient Valuations with respect to the Mortgage
Loans during the prior month: $ 0.00
---------------
9. Aggregate Debt Service Reductions with respect to the Mortgage Loans
during the prior month: $ 0.00
---------------
10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 0.00
---------------
11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 1,067,718.17
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 1,067,718.17
---------------
12. Pool Scheduled Principal Balance: $ 494,625,925.11
---------------
13. Available Funds: $ 8,340,648.23
---------------
14. Realized Losses for prior month: $ 0.00
---------------
15. Aggregate Realized Losses
(a) Aggregate Realized Losses: $ 0.00
------------------------
(b) Deficient Valuations: $ 0.00
------------------------
(c) Debt Service Reductions: $ 0.00
------------------------
(d) Bankruptcy Losses: $ 0.00
------------------------
(e) Special Hazard Losses: $ 0.00
------------------------
(f) Fraud Losses: $ 0.00
------------------------
(g) Excess Bankruptcy Losses: $ 0.00
------------------------
(h) Excess Special Hazard Losses: $ 0.00
------------------------
(i) Excess Fraud Losses: $ 0.00
------------------------
16. Non-Credit Losses: $ 0.00
---------------
17. Compensating Interest Payment: $ 1,935.88
---------------
18. Total interest payments: $ 2,884,037.71
---------------
19. Interest
Unpaid Class
Accrued Certificate Interest Shortfalls Interest
Class Interest Payable Pay-out Rate
- ----- -------- ------------------- ------- ------------
R $ 0.54 $ 0.00 $ 0.54 %6.480000000
PO $ 0.00 $ 0.00 $ 0.00 %0.000000000
A1 $ 725,833.33 $ 0.00 $ 725,833.33 %6.499999970
A2 $ 29,553.33 $ 0.00 $ 29,553.33 %6.499999267
A3 $ 100,002.14 $ 0.00 $ 100,002.14 %5.699999758
A4 $ 57,895.98 $ 0.00 $ 57,895.98 %8.196773989
A5 $ 270,833.33 $ 0.00 $ 270,833.33 %6.499999920
A6 $ 16,250.00 $ 0.00 $ 16,250.00 %6.500000000
A7 $ 16,250.00 $ 0.00 $ 16,250.00 %6.500000000
A8 $ 10,833.33 $ 0.00 $ 10,833.33 %6.499998000
A9 $ 10,833.33 $ 0.00 $ 10,833.33 %6.499998000
A10 $ 13,843.13 $ 0.00 $ 13,843.13 %6.750002438
A11 $ 11,070.00 $ 0.00 $ 11,070.00 %6.750000000
A12 $ 11,070.00 $ 0.00 $ 11,070.00 %6.750000000
A13 $ 11,070.00 $ 0.00 $ 11,070.00 %6.750000000
A14 $ 8,313.75 $ 0.00 $ 8,313.75 %6.750000000
A15 $ 687,916.67 $ 0.00 $ 687,916.67 %6.500000031
A16 $ 413,963.33 $ 0.00 $ 413,963.33 %6.499999948
A17 $ 65,644.58 $ 0.00 $ 65,644.58 %6.499999670
A18 $ 135,416.67 $ 0.00 $ 135,416.67 %6.500000160
S $ 179,088.19 $ 0.00 $ 179,088.19 %0.453456990
M $ 50,112.29 $ 0.00 $ 50,112.29 %6.499999784
B1 $ 20,315.75 $ 0.00 $ 20,315.75 %6.500000000
B2 $ 12,189.13 $ 0.00 $ 12,189.13 %6.500002666
B3 $ 13,543.83 $ 0.00 $ 13,543.83 %6.499998400
B4 $ 5,417.75 $ 0.00 $ 5,417.75 %6.500000000
B5 $ 6,777.33 $ 0.00 $ 6,777.33 %6.499996076
20. Principal Distribution Amount: $ 5,456,610.52
-------------
21. Principal Distribution Amount per Certificate:
Principal Distribution Accrual Amount
---------------------- --------------
Class R $ 100.00 $ 0.00
Class PO $ 846.73 $ 0.00
Class A1 $ 2,115,432.08 $ 0.00
Class A2 $ 0.00 $ 0.00
Class A3 $ 0.00 $ 0.00
Class A4 $ 0.00 $ 0.00
Class A5 $ 0.00 $ 0.00
Class A6 $ 0.00 $ 0.00
Class A7 $ 0.00 $ 0.00
Class A8 $ 0.00 $ 0.00
Class A9 $ 0.00 $ 0.00
Class A10 $ 0.00 $ 0.00
Class A11 $ 0.00 $ 0.00
Class A12 $ 0.00 $ 0.00
Class A13 $ 0.00 $ 0.00
Class A14 $ 0.00 $ 0.00
Class A15 $ 1,641,417.43 $ 0.00
Class A16 $ 1,096,393.72 $ 0.00
Class A17 $ 585,990.47 $ 0.00
Class A18 $ 0.00 $ 0.00
Class S $ 0.00 $ 0.00
Class M $ 7,598.55 $ 0.00
Class B1 $ 3,080.49 $ 0.00
Class B2 $ 1,848.24 $ 0.00
Class B3 $ 2,053.66 $ 0.00
Class B4 $ 821.50 $ 0.00
Class B5 $ 1,027.65 $ 0.00
22. Additional distributions to the Class R Certificate pursuant to the
Agreement:
$ 0.00
---------------
23. Additional distributions to the Class RL Certificate pursuant to the
Agreement:
$ 0.00
---------------
24. Subordinate Certificate Writedown Amount: $ 0.00
---------------
Accumulative
Class Supported Shortfall Supported Shortfall
----- ------------------- -------------------
B1 $ 0.00 $ 0.00
B2 $ 0.00 $ 0.00
B3 $ 0.00 $ 0.00
B4 $ 0.00 $ 0.00
B5 $ 0.00 $ 0.00
25. Unanticipated Recoveries: $ 0.00
---------------
26. The Certificate Interest Rate applicable to the Interest Accrual Period
relating to such Distribution Date applicable to any floating index
certificate.
Class Certificate Interest
Rates
-----
Class A3 % 5.69999976
Class A4 % 8.19677399
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution Triggers satisfied:
Yes No
--- --
Class-B1 X
Class-B2 X
Class-B3 X
Class-B4 X
Class-B5 X
2. Base Servicing Fee amount: $ 36,139.18
----------
3. Supplemental Servicing Fee amount: $ N/A
----------
4. Credit Losses for prior month: $ 0.00
----------
Category Category Category
A B C
5. Senior Percentage: % 95.994155 N/A N/A N/A
----------- ---- ------ ------
6. Group I Senior Percentage:
% N/A N/A N/A N/A
----------- ---- ------ ------
7. Group II Senior Percentage:
% N/A N/A N/A N/A
----------- ---- ------ ------
8. Senior Prepayment Percentage:
%100.000000 N/A N/A N/A
----------- ---- ------ ------
9. Group I Senior Prepayment
Percentage: % N/A N/A N/A N/A
----------- ---- ------ ------
10. Group II Senior Prepayment
Percentage: % N/A N/A N/A N/A
----------- ---- ------ ------
11. Junior Percentage: % 4.005845
-----------
12. Junior Prepayment Percentage:
% 0.000000
-----------
Capitalized terms used in this Certificate shall have the same meanings as in
the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Tim Neer
-------------------------------
Tim Neer
Vice President
Investor Operations
Exhibit 99.08
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
April, 1999
Series 1999-03, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1999 (the
"Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
Weighted average coupon % 7.167809
------------------------
Weighted average maturity 354.52
------------------------
A. Amount of distribution allocable to principal and interest: The amounts
below are for a Single Certificate of $1,000:
1.
Principal
Principal Per Prepayments Per Interest Per
Class Certificate Certificate Certificate Payout Rate
----- ----------- ----------- ----------- -----------
R $ 1000.00000000 $ 927.60000000 $ 5.40000000 % 6.48000000
PO $ 1.19724707 $ 0.24810854 $ 0.00000000 % 0.00000000
A1 $ 15.78680657 $ 14.64408806 $ 5.41666664 % 6.49999997
A2 $ 0.00000000 $ 0.00000000 $ 5.41666606 % 6.49999927
A3 $ 0.00000000 $ 0.00000000 $ 4.74999980 % 5.69999976
A4 $ 0.00000000 $ 0.00000000 $ 6.83064499 % 8.19677399
A5 $ 0.00000000 $ 0.00000000 $ 5.41666660 % 6.49999992
A6 $ 0.00000000 $ 0.00000000 $ 5.41666667 % 6.50000000
A7 $ 0.00000000 $ 0.00000000 $ 5.41666667 % 6.50000000
A8 $ 0.00000000 $ 0.00000000 $ 5.41666500 % 6.49999800
A9 $ 0.00000000 $ 0.00000000 $ 5.41666500 % 6.49999800
A10 $ 0.00000000 $ 0.00000000 $ 5.62500203 % 6.75000244
A11 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
A12 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
A13 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
A14 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
A15 $ 12.92454669 $ 11.98901110 $ 5.41666669 % 6.50000003
A16 $ 14.34619648 $ 13.30775555 $ 5.41666662 % 6.49999995
A17 $ 48.35303820 $ 44.85303243 $ 5.41666639 % 6.49999967
A18 $ 0.00000000 $ 0.00000000 $ 5.41666680 % 6.50000016
S $ 0.00000000 $ 0.00000000 $ 0.37788083 % 0.45345699
M $ 0.82133168 $ 0.00000000 $ 5.41666649 % 6.49999978
B1 $ 0.82133259 $ 0.00000000 $ 5.41666667 % 6.50000000
B2 $ 0.82133049 $ 0.00000000 $ 5.41666889 % 6.50000267
B3 $ 0.82133259 $ 0.00000000 $ 5.41666533 % 6.49999840
B4 $ 0.82133573 $ 0.00000000 $ 5.41666667 % 6.50000000
B5 $ 0.82133143 $ 0.00000000 $ 5.41666340 % 6.49999608
2. Unanticipated Recoveries: $ 0.00
---------------
B. Accrual Amount
1.
Accrual Amount
Class
N/A $ N/A
2. The amount of servicing compensation received by the Company during
the month preceding the month of distribution:
$ 36,139.18
------------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 494,625,925.11
---------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 1,435
---------------
3.
Beginning Aggregate Class Ending Aggregate Ending
Certificate Principal Class Certificate Single Certificate
Class Balance Principal Balance Balance Cusip
- ----- ------- ----------------- ------- -----
R $ 100.00 $ 0.00 $ 0.00 36157RG66
PO $ 707,230.80 $ 706,384.07 $ 998.80 GEC9903PO
A1 $ 134,000,000.00 $ 131,884,567.92 $ 984.21 36157RE43
A2 $ 5,456,000.00 $ 5,456,000.00 $ 1,000.00 36157RE50
A3 $ 21,053,083.00 $ 21,053,083.00 $ 1,000.00 36157RE68
A4 $ 8,475,917.00 $ 8,475,917.00 $ 1,000.00 36157RE76
A5 $ 50,000,000.00 $ 50,000,000.00 $ 1,000.00 36157RE84
A6 $ 3,000,000.00 $ 3,000,000.00 $ 1,000.00 36157RE92
A7 $ 3,000,000.00 $ 3,000,000.00 $ 1,000.00 36157RF26
A8 $ 2,000,000.00 $ 2,000,000.00 $ 1,000.00 36157RF34
A9 $ 2,000,000.00 $ 2,000,000.00 $ 1,000.00 36157RF42
A10 $ 2,461,000.00 $ 2,461,000.00 $ 1,000.00 36157RF59
A11 $ 1,968,000.00 $ 1,968,000.00 $ 1,000.00 36157RF67
A12 $ 1,968,000.00 $ 1,968,000.00 $ 1,000.00 36157RF75
A13 $ 1,968,000.00 $ 1,968,000.00 $ 1,000.00 36157RF83
A14 $ 1,478,000.00 $ 1,478,000.00 $ 1,000.00 36157RF91
A15 $ 127,000,000.00 $ 125,358,582.57 $ 987.08 36157RG25
A16 $ 76,424,000.00 $ 75,327,606.28 $ 985.65 36157RG33
A17 $ 12,119,000.00 $ 11,533,009.53 $ 951.65 36157RG41
A18 $ 25,000,000.00 $ 25,000,000.00 $ 1,000.00 36157RG58
S $ 473,927,698.84 $ 468,506,258.00 $ 988.56 GEC99003S
M $ 9,251,500.00 $ 9,243,901.45 $ 999.18 36157RG74
B1 $ 3,750,600.00 $ 3,747,519.51 $ 999.18 36157RG82
B2 $ 2,250,300.00 $ 2,248,451.76 $ 999.18 36157RG90
B3 $ 2,500,400.00 $ 2,498,346.34 $ 999.18 36157RM85
B4 $ 1,000,200.00 $ 999,378.50 $ 999.18 36157RM93
B5 $ 1,251,200.14 $ 1,250,172.49 $ 999.18 36157RN27
D. The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the
month preceding the related Determination Date, were delinquent:
1. 30-59 days
Number 36 Principal Balance $ 12,218,701.23
-------- --------------
2. 60-89 days
Number 0 Principal Balance $ 0.00
-------- --------------
3. 90 days or more
Number 0 Principal Balance $ 0.00
-------- --------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
-------- --------------
5. Real Estate Owned
Number 0 Principal Balance $ 0.00
-------- --------------
6. The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to the Pooling And Servicing Agreement:
$ 0.00
------------
7. The Certificate Interest Rate applicable to the Interest Accrual
Period relating to such Distribution Date applicable to any floating
index certificate:
Certificate Interest
Class Rates
A3 % 5.69999976
A4 % 8.19677399
E. Other Information:
1. Special Hazard Loss Amount: $ 0.00
---------------
2. Bankruptcy Loss Amount: $ 0.00
---------------
3. Fraud Loss Amount: $ 0.00
---------------
4. Certificate Interest Rate of the Class S Certificate:% 0.00000000
-----------
*It has been the Company's experience that, with respect to the first
Distribution Date after the closing of a securitization containing a large
number of recently originated or acquired Mortgage Loans, the number of Mortgage
Loans 30-59 days delinquent may be inflated due to the borrowers sending monthly
payments to the wrong location or delays by the Company in inputting the
Mortgage Loans on its servicing system. It has also been the Company's
experience that for the majority of such Mortgage Loans the routing of
borrowers' monthly payments has corrected itself by the second Distribution
Date. However, the Company makes no assurances as to the level of delinquent
Mortgage Loans for future Distribution Dates.
Exhibit 99.09
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
April, 1999
Series 1999-05, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1999 (the
"Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (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 $ 642,590.24
---------------
(b) Interest $ 4,700,712.71
---------------
(c) Total $ 5,343,302.95
---------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 405,893.15
---------------
(b) Interest $ 2,962,016.68
---------------
(c) Total $ 3,367,909.83
---------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 236,697.09
---------------
(b) Interest $ 1,738,696.03
---------------
(c) Total $ 1,975,393.12
---------------
4. Aggregate Principal Prepayments in part received in the applicable
Prepayment Period:
(a) Principal $ 343,550.93
---------------
5. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $ 5,646,001.24
---------------
(b) Interest $ 32,986.23
---------------
(c) Total $ 5,678,987.47
---------------
6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 0.00
---------------
7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 0.00
---------------
8. Aggregate Deficient Valuations with respect to the Mortgage
Loans during the prior month: $ 0.00
---------------
9. Aggregate Debt Service Reductions with respect to the Mortgage Loans
during the prior month: $ 0.00
---------------
10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 0.00
---------------
11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 264,801.17
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 264,801.17
---------------
12. Pool Scheduled Principal Balance: $ 781,759,034.33
---------------
13. Available Funds: $ 11,475,734.87
---------------
14. Realized Losses for prior month: $ 0.00
---------------
15. Aggregate Realized Losses
(a) Aggregate Realized Losses: $ 0.00
------------------------
(b) Deficient Valuations: $ 0.00
------------------------
(c) Debt Service Reductions: $ 0.00
------------------------
(d) Bankruptcy Losses: $ 0.00
------------------------
(e) Special Hazard Losses: $ 0.00
------------------------
(f) Fraud Losses: $ 0.00
------------------------
(g) Excess Bankruptcy Losses: $ 0.00
------------------------
(h) Excess Special Hazard Losses: $ 0.00
------------------------
(i) Excess Fraud Losses: $ 0.00
------------------------
16. Non-Credit Losses: $ 0.00
---------------
17. Compensating Interest Payment: $ 1,924.19
---------------
18. Total interest payments: $ 4,578,791.26
---------------
19. Interest
Unpaid Class
Accrued Certificate Interest Shortfalls Interest
Class Interest Payable Pay-out Rate
- ----- -------- ------------------- ------- ------------
R $ 0.54 $ 0.00 $ 0.54 % 6.480000000
PO $ 0.00 $ 0.00 $ 0.00 % 0.000000000
A1 $ 2,220,492.08 $ 0.00 $ 2,220,492.08 % 6.499999990
A2 $ 351,027.08 $ 0.00 $ 351,027.08 % 6.499999938
A3 $ 13,595.83 $ 0.00 $ 13,595.83 % 6.499998406
A4 $ 17,988.75 $ 0.00 $ 17,988.75 % 6.500000000
A5 $ 17,994.17 $ 0.00 $ 17,994.17 % 6.500001204
A6 $ 12,545.00 $ 0.00 $ 12,545.00 % 6.500000000
A7 $ 18,990.83 $ 0.00 $ 18,990.83 % 6.499998859
A8 $ 101,649.17 $ 0.00 $ 101,649.17 % 6.500000213
A9 $ 17,364.58 $ 0.00 $ 17,364.58 % 6.249998800
A10 $ 27,083.33 $ 0.00 $ 27,083.33 % 6.499999200
A11 $ 9,724.17 $ 0.00 $ 9,724.17 % 7.000002400
A12 $ 21,379.58 $ 0.00 $ 21,379.58 % 6.499998987
A13 $ 24,375.00 $ 0.00 $ 24,375.00 % 6.500000000
A14 $ 7,583.33 $ 0.00 $ 7,583.33 % 6.499997143
A15 $ 5,579.17 $ 0.00 $ 5,579.17 % 6.500003883
A16 $ 26,406.46 $ 0.00 $ 26,406.46 % 6.750001118
A17 $ 0.00 $ 0.00 $ 0.00 % 0.000000000
A18 $ 24,721.88 $ 0.00 $ 24,721.88 % 6.750001365
A19 $ 6,666.67 $ 0.00 $ 6,666.67 % 8.000004000
A20 $ 22,110.00 $ 0.00 $ 22,110.00 % 9.000000000
A21 $ 5,416.67 $ 0.00 $ 5,416.67 % 6.500004000
A22 $ 5,833.33 $ 0.00 $ 5,833.33 % 6.999996000
A23 $ 27,083.33 $ 0.00 $ 27,083.33 % 6.750000312
A24 $ 0.00 $ 0.00 $ 0.00 % 0.000000000
A25 $ 0.00 $ 0.00 $ 0.00 % 0.000000000
A26 $ 53,175.41 $ 0.00 $ 53,175.41 % 6.999999671
A27 $ 539,548.75 $ 0.00 $ 539,548.75 % 6.500000000
A28 $ 88,188.75 $ 0.00 $ 88,188.75 % 6.500000000
A29 $ 427,190.83 $ 0.00 $ 427,190.83 % 6.499999949
S $ 303,520.89 $ 0.00 $ 303,520.89 % 0.481836839
M $ 85,437.08 $ 0.00 $ 85,437.08 % 6.499999746
B1 $ 32,039.58 $ 0.00 $ 32,039.58 % 6.499999324
B2 $ 19,223.75 $ 0.00 $ 19,223.75 % 6.500000000
B3 $ 23,495.33 $ 0.00 $ 23,495.33 % 6.499999078
B4 $ 8,544.25 $ 0.00 $ 8,544.25 % 6.500000000
B5 $ 12,815.69 $ 0.00 $ 12,815.69 % 6.499999858
20. Principal Distribution Amount: $ 6,896,943.61
--------------
21. Principal Distribution Amount per Certificate:
Principal Distribution Accrual Amount
Class R $ 100.00 $ 0.00
Class PO $ 821.18 $ 0.00
Class A1 $ 4,411,345.49 $ 0.00
Class A2 $ 845,749.21 $ 0.00
Class A3 $ 0.00 $ 0.00
Class A4 $ 0.00 $ 0.00
Class A5 $ 0.00 $ 0.00
Class A6 $ 0.00 $ 0.00
Class A7 $ 0.00 $ 0.00
Class A8 $ 354,785.65 $ 0.00
Class A9 $ 0.00 $ 0.00
Class A10 $ 0.00 $ 0.00
Class A11 $ 0.00 $ 0.00
Class A12 $ 0.00 $ 0.00
Class A13 $ 0.00 $ 0.00
Class A14 $ 0.00 $ 0.00
Class A15 $ 0.00 $ 0.00
Class A16 $ 0.00 $ 0.00
Class A17 $ 0.00 $ 0.00
Class A18 $ 0.00 $ 0.00
Class A19 $ 0.00 $ 0.00
Class A20 $ 0.00 $ 0.00
Class A21 $ 0.00 $ 0.00
Class A22 $ 0.00 $ 0.00
Class A23 $ 0.00 $ 0.00
Class A24 $ 0.00 $ 0.00
Class A25 $ 0.00 $ 0.00
Class A26 $ 0.00 $ 0.00
Class A27 $ 1,256,835.27 $ 0.00
Class A28 $ 0.00 $ 0.00
Class A29 $ 0.00 $ 0.00
Class S $ 0.00 $ 0.00
Class M $ 12,850.13 $ 0.00
Class B1 $ 4,818.90 $ 0.00
Class B2 $ 2,891.34 $ 0.00
Class B3 $ 3,533.81 $ 0.00
Class B4 $ 1,285.09 $ 0.00
Class B5 $ 1,927.54 $ 0.00
22. Additional distributions to the Class R Certificate pursuant to the
Agreement:
$ 0.00
--------------
23. Additional distributions to the Class RL Certificate pursuant to the
Agreement:
$ 0.00
--------------
24. Subordinate Certificate Writedown Amount: $ 0.00
--------------
Accumulative
Class Supported Shortfall Supported Shortfall
----- ------------------- -------------------
B1 $ 0.00 $ 0.00
B2 $ 0.00 $ 0.00
B3 $ 0.00 $ 0.00
B4 $ 0.00 $ 0.00
B5 $ 0.00 $ 0.00
25. Unanticipated Recoveries: $ 0.00
--------------
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution Triggers satisfied:
Yes No
--- --
Class-B1 X
Class-B2 X
Class-B3 X
Class-B4 X
Class-B5 X
2. Base Servicing Fee amount: $ 91,639.29
----------
3. Supplemental Servicing Fee amount: $ N/A
----------
4. Credit Losses for prior month: $ 0.00
----------
Category Category Category
A B C
5. Senior Percentage: % 95.745997 N/A N/A N/A
----------- ---- ------ ------
6. Group I Senior Percentage:
% N/A N/A N/A N/A
----------- ---- ------ ------
7. Group II Senior Percentage:
% N/A N/A N/A N/A
----------- ---- ------ ------
8. Senior Prepayment Percentage:
%100.000000 N/A N/A N/A
----------- ---- ------ ------
9. Group I Senior Prepayment
Percentage: % N/A N/A N/A N/A
----------- ---- ------ ------
10. Group II Senior Prepayment
Percentage: % N/A N/A N/A N/A
----------- ---- ------ ------
11. Junior Percentage: % 4.254003
-----------
12. Junior Prepayment Percentage:
% 0.000000
-----------
Capitalized terms used in this Certificate shall have the same meanings as in
the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Tim Neer
-------------------------------
Tim Neer
Vice President
Investor Operations
Exhibit 99.10
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
April, 1999
Series 1999-05, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1999 (the
"Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
Weighted average coupon % 7.20948
------------------------
Weighted average maturity 354.78
------------------------
A. Amount of distribution allocable to principal and interest: The amounts
below are for a Single Certificate of $1,000:
1.
Principal
Principal Per Prepayments Per Interest Per
Class Certificate Certificate Certificate Payout Rate
----- ----------- ----------- ----------- -----------
R $ 1000.00000000 $ 910.50000000 $5.40000000 %6.48000000
PO $ 1.11074692 $ 0.18854211 $0.00000000 %0.00000000
A1 $ 10.76103277 $ 9.79816682 $5.41666666 %6.49999999
A2 $ 13.05067834 $ 11.88294159 $5.41666662 %6.49999994
A3 $ 0.00000000 $ 0.00000000 $5.41666534 %6.49999841
A4 $ 0.00000000 $ 0.00000000 $5.41666667 %6.50000000
A5 $ 0.00000000 $ 0.00000000 $5.41666767 %6.50000120
A6 $ 0.00000000 $ 0.00000000 $5.41666667 %6.50000000
A7 $ 0.00000000 $ 0.00000000 $5.41666572 %6.49999886
A8 $ 18.90576841 $ 17.21413514 $5.41666684 %6.50000021
A9 $ 0.00000000 $ 0.00000000 $5.20833233 %6.24999880
A10 $ 0.00000000 $ 0.00000000 $5.41666600 %6.49999920
A11 $ 0.00000000 $ 0.00000000 $5.83333533 %7.00000240
A12 $ 0.00000000 $ 0.00000000 $5.41666582 %6.49999899
A13 $ 0.00000000 $ 0.00000000 $5.41666667 %6.50000000
A14 $ 0.00000000 $ 0.00000000 $5.41666429 %6.49999714
A15 $ 0.00000000 $ 0.00000000 $5.41666990 %6.50000388
A16 $ 0.00000000 $ 0.00000000 $5.62500093 %6.75000112
A17 $ 0.00000000 $ 0.00000000 $0.00000000 %0.00000000
A18 $ 0.00000000 $ 0.00000000 $5.62500114 %6.75000137
A19 $ 0.00000000 $ 0.00000000 $6.66667000 %8.00000400
A20 $ 0.00000000 $ 0.00000000 $7.50000000 %9.00000000
A21 $ 0.00000000 $ 0.00000000 $5.41667000 %6.50000400
A22 $ 0.00000000 $ 0.00000000 $5.83333000 %6.99999600
A23 $ 0.00000000 $ 0.00000000 $5.62500026 %6.75000031
A24 $ 0.00000000 $ 0.00000000 $0.00000000 %0.00000000
A25 $ 0.00000000 $ 0.00000000 $0.00000000 %0.00000000
A26 $ 0.00000000 $ 0.00000000 $5.83333306 %6.99999967
A27 $ 12.61768786 $ 11.48869379 $5.41666667 %6.50000000
A28 $ 0.00000000 $ 0.00000000 $5.41666667 %6.50000000
A29 $ 0.00000000 $ 0.00000000 $5.41666662 %6.49999995
S $ 0.00000000 $ 0.00000000 $0.40153070 %0.48183684
M $ 0.81469156 $ 0.00000000 $5.41666646 %6.49999975
B1 $ 0.81469146 $ 0.00000000 $5.41666610 %6.49999932
B2 $ 0.81469146 $ 0.00000000 $5.41666667 %6.50000000
B3 $ 0.81469246 $ 0.00000000 $5.41666590 %6.49999908
B4 $ 0.81468873 $ 0.00000000 $5.41666667 %6.50000000
B5 $ 0.81469210 $ 0.00000000 $5.41666655 %6.49999986
2. Unanticipated Recoveries: $ 0.00
---------------
B. Accrual Amount
1.
Accrual Amount
Class
N/A $ N/A
2. The amount of servicing compensation received by the Company during
the month preceding the month of distribution:
$ 91,639.29
------------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 781,759,034.33
---------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 2,514
-----------
3.
Beginning Aggregate Class Ending Aggregate Ending
Certificate Principal Class Certificate Single Certificate
Class Balance Principal Balance Balance Cusip
- ----- ------- ----------------- ------- -----
R $ 100.00 $ 0.00 $ 0.00 36157RL78
PO $ 739,304.32 $ 738,483.14 $ 998.89 GEC9905PO
A1 $ 409,937,000.00 $ 405,525,654.51 $ 989.24 36157RH24
A2 $ 64,805,000.00 $ 63,959,250.79 $ 986.95 36157RH32
A3 $ 2,510,000.00 $ 2,510,000.00 $ 1,000.00 36157RH40
A4 $ 3,321,000.00 $ 3,321,000.00 $ 1,000.00 36157RH57
A5 $ 3,322,000.00 $ 3,322,000.00 $ 1,000.00 36157RH65
A6 $ 2,316,000.00 $ 2,316,000.00 $ 1,000.00 36157RH73
A7 $ 3,506,000.00 $ 3,506,000.00 $ 1,000.00 36157RH81
A8 $ 18,766,000.00 $ 18,411,214.35 $ 981.09 36157RH99
A9 $ 3,334,000.00 $ 3,334,000.00 $ 1,000.00 36157RJ22
A10 $ 5,000,000.00 $ 5,000,000.00 $ 1,000.00 36157RJ30
A11 $ 1,667,000.00 $ 1,667,000.00 $ 1,000.00 36157RJ48
A12 $ 3,947,000.00 $ 3,947,000.00 $ 1,000.00 36157RJ55
A13 $ 4,500,000.00 $ 4,500,000.00 $ 1,000.00 36157RJ63
A14 $ 1,400,000.00 $ 1,400,000.00 $ 1,000.00 36157RJ71
A15 $ 1,030,000.00 $ 1,030,000.00 $ 1,000.00 36157RJ89
A16 $ 4,694,481.00 $ 4,694,481.00 $ 1,000.00 36157RJ97
A17 $ 426,519.00 $ 426,519.00 $ 1,000.00 36157RK20
A18 $ 4,395,000.00 $ 4,395,000.00 $ 1,000.00 36157RK38
A19 $ 1,000,000.00 $ 1,000,000.00 $ 1,000.00 36157RK46
A20 $ 2,948,000.00 $ 2,948,000.00 $ 1,000.00 36157RK53
A21 $ 1,000,000.00 $ 1,000,000.00 $ 1,000.00 36157RK61
A22 $ 1,000,000.00 $ 1,000,000.00 $ 1,000.00 36157RK79
A23 $ 4,814,814.00 $ 4,814,814.00 $ 1,000.00 36157RK87
A24 $ 185,186.00 $ 185,186.00 $ 1,000.00 36157RK95
A25 $ 701,215.00 $ 701,215.00 $ 1,000.00 36157RL29
A26 $ 9,115,785.00 $ 9,115,785.00 $ 1,000.00 36157RL37
A27 $ 99,609,000.00 $ 98,352,164.73 $ 987.38 36157RL45
A28 $ 16,281,000.00 $ 16,281,000.00 $ 1,000.00 36157RL52
A29 $ 78,866,000.00 $ 78,866,000.00 $ 1,000.00 36157RL60
S $ 755,909,549.98 $ 749,046,425.96 $ 990.92 GEC99005S
M $ 15,773,000.00 $ 15,760,149.87 $ 999.19 36157RL86
B1 $ 5,915,000.00 $ 5,910,181.10 $ 999.19 36157RL94
B2 $ 3,549,000.00 $ 3,546,108.66 $ 999.19 36157RM28
B3 $ 4,337,600.00 $ 4,334,066.19 $ 999.19 36157RM51
B4 $ 1,577,400.00 $ 1,576,114.91 $ 999.19 36157RM69
B5 $ 2,365,973.59 $ 2,364,046.05 $ 999.19 36157RM77
D. The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the
month preceding the related Determination Date, were delinquent:
1. 30-59 days
Number 16 Principal Balance $ 5,173,773.61
-------- -------------
2. 60-89 days
Number 0 Principal Balance $ 0.00
-------- -------------
3. 90 days or more
Number 0 Principal Balance $ 0.00
-------- -------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
-------- -------------
5. Real Estate Owned
Number 0 Principal Balance $ 0.00
-------- -------------
6. The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to the Pooling And Servicing Agreement:
$ 0.00
------------
E. Other Information:
1. Special Hazard Loss Amount: $ 0.00
---------------
2. Bankruptcy Loss Amount: $ 0.00
---------------
3. Fraud Loss Amount: $ 0.00
---------------
4. Certificate Interest Rate of the Class S Certificate:% 0.00000000
------------
G.
Rounding Amount
Opening Reimbursement (Withdrawl) Closing
Class Balance Amount Balance
- ----- ------- ------ --------------- -------
A19-INT $ 20,000.00 $ 0.00 $ 0.00 $ 18,750.00
A20-INT $ 73,701.00 $ 0.00 $ 0.00 $ 67,562.59
A12 $ 999.99 $ 0.00 $ 0.00 $ 999.99
A13 $ 999.99 $ 0.00 $ 0.00 $ 999.99
A18 $ 999.99 $ 0.00 $ 0.00 $ 999.99
A21 $ 999.99 $ 0.00 $ 0.00 $ 999.99
A22 $ 999.99 $ 0.00 $ 0.00 $ 999.99
A23 $ 999.99 $ 0.00 $ 0.00 $ 999.99
*It has been the Company's experience that, with respect to the first
Distribution Date after the closing of a securitization containing a large
number of recently originated or acquired Mortgage Loans, the number of Mortgage
Loans 30-59 days delinquent may be inflated due to the borrowers sending monthly
payments to the wrong location or delays by the Company in inputting the
Mortgage Loans on its servicing system. It has also been the Company's
experience that for the majority of such Mortgage Loans the routing of
borrowers' monthly payments has corrected itself by the second Distribution
Date. However, the Company makes no assurances as to the level of delinquent
Mortgage Loans for future Distribution Dates.
EXHIBIT 99.11
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
APRIL 1999
REMIC Home Equity Loan Pass-Through Certificates,
Series 1999-HE1
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1999
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company"),
and The First National Bank of Chicago (the "Trustee"), governing the
Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
(1) Aggregate Monthly Payments Due: $4,463,201.97
-------------
(2) Aggregate Monthly Payments received and Monthly Advances made this
Month:
(a) Principal $574,918.72
-------------
(b) Interest $3,655,061.58
-------------
(c) Total $4,229,980.30
-------------
(3) Aggregate PrincipalPrepayments in part received on Self- Amortizing
Mortgage Loans and applied in the applicable Prepayment Period:
(a) Principal $79,964.02
----------
(c) Total $79,964.02
----------
(4) Aggregate Principal Prepayments in full received in the applicable
Prepayment period:
(a) Principal $12,239,094.67
---------------
(b) Interest $124,366.71
---------------
(c) Total $12,363,461.38
--------------
(5) Aggregate Insurance Proceeds (inculding purchases of Mortgage Loans by
primary mortgage insurers) for prior month:
(a) Principal $0.00
-----
(b) Interest $0.00
-----
(c) Total $0.00
-----
(6) Aggregate Liquidation Proceeds for prior month:
(a) Principal $0.00
-----
(b) Interest $0.00
-----
(c) Total $0.00
-----
(7) Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $0.00
-----
(b) Interest $0.00
-----
(c) Total $0.00
-----
(8) Aggregate Purchase Prices for (and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal $332,940.74
-----------
(b) Interest $2,387.78
-----------
(c) Total $335,328.52
-----------
(9) Aggregate Purchase Prices for for Document Deficiencies per Sec. 2.02
(a) Principal $0.00
---------------
(b) Interest $0.00
---------------
(c) Total $0.00
---------------
(10) Pool Principal Balance $508,986,591.75
---------------
(11) Available Funds: $17,005,173.80
---------------
(12) Realized Losses for prior month: $0.00
---------------
(13) Aggregate Realized Losses: $0.00
---------------
(a) Deficient Valuations $0.00
--------------
(b) Special Hazard Losses $0.00
--------------
(c) Fraud Losses $0.00
--------------
(d) Excess Bankruptcy Losses $0.00
--------------
(e) Excess Special Hazard Losses $0.00
--------------
(f ) Excess Fraud Losses $0.00
--------------
(14) Compensating Interest Payment: $582.61
--------------
(15) Net Simple Interest Shortfall: $0.00
--------------
(16) Net Simple Interest Excess: $4,143.03
--------------
(17) Simple Interest Shortfall Payment:
$0.00
--------------
(18) Unpaid Net Simple Interest Shortfall:
Class A1 $0.00
------
Class A2 $0.00
------
Class A3 $0.00
------
Class A4 $0.00
------
Class A5 $0.00
------
Class A6 $0.00
------
Class A7 $0.00
------
Class S $0.00
------
Class M $0.00
------
Class B1 $0.00
------
Class B2 $0.00
------
Class B3 $0.00
------
Class B4 $0.00
------
Class B5 $0.00
------
(19) Class Certificate Interest Rate:
Class M 6.705%
--------
Class B1 7.200%
--------
Class B2 8.525%
--------
Class B3 8.908%
--------
Class B4 8.908%
--------
Class B5 8.908%
--------
Class S 2.59%
--------
(20) Accrued Certificate Interest and Pay-out Rate:
Class A1 $859,283.33 5.995%
--------------------------------
Class A2 $231,279.17 5.905%
--------------------------------
Class A3 $422,424.85 6.035%
--------------------------------
Class A4 $123,700.00 6.185%
--------------------------------
Class A5 $225,212.50 6.285%
--------------------------------
Class A6 $182,217.67 6.700%
--------------------------------
Class A7 $229,716.67 6.265%
--------------------------------
Class S $1,099,641.70 2.59%
--------------------------------
Class M $99,541.31 6.705%
--------------------------------
Class B1 $91,620.00 7.200%
--------------------------------
Class B2 $81,364.02 8.525%
--------------------------------
Class B3 $43,454.86 8.908%
--------------------------------
Class B4 $26,448.52 8.908%
--------------------------------
Class B5 $62,351.05 8.908%
--------------------------------
Total $3,778,255.65
(21) Principal distributable:
Class A1 $13,155,486.39
---------------
Class A2 $0.00
---------------
Class A3 $0.00
---------------
Class A4 $0.00
---------------
Class A5 $0.00
---------------
Class A6 $0.00
---------------
Class A7 $0.00
---------------
Class M $20,122.69
---------------
Class B1 $17,248.02
---------------
Class B2 $12,936.58
---------------
Class B3 $6,612.30
---------------
Class B4 $4,024.54
---------------
Class B5 $9,487.64
---------------
Class R1 $500.00
---------------
Class R2 $500.00
---------------
Total $13,226,918.15
(22) Additional distributions to the Class R1 Certificate pursuant to
Section 2.05 (d) : $0.00
-----
(23) Additional distributions to the Class R2 Certificate pursuant to
Section 4.01 (b) : $0.00
-----
B. Other Amounts:
1) Senior Percentage for such Distribution Date 87.749266%
----------
2) Senior Prepayment Percentage for such Distribution Date 100.00%
-------
3) Junior Percentage for such Distribution Date 12.250734%
----------
4) Junior Prepayment Percentage for such Distribution Date 0.00%
-----
5) Subordinate Certfificate Writedown Amount for such
Distribution Date $0.00
-----
6) Prepayment Distribution Triggers satisfied:
Yes No
--- --
Class B1 X
--
Class B2 X
--
Class B3 X
--
Class B4 X
--
Class B5 X
--
Capitalized terms used in this Certificate shall have the same meanings
as in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Tim Neer
- ------------------------------------------
Name: Tim Neer
Title: Vice President of Investor
Operations
Exhibit 99.12
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
APRIL 1999
REMIC Home Equity Loan Pass-Through Certificates,
Series 1999-HE1
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1999
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company"),
and The First National Bank of Chicago (the "Trustee"), governing the
Certificates referred to above, the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination
Date for this month:
The amounts below are for a Single Certificate of $1,000:
(1) Amount of distribution allocable to principal:
Class A1 $76.48538598
----------------
Class A2 $0.00000000
----------------
Class A3 $0.00000000
----------------
Class A4 $0.00000000
----------------
Class A5 $0.00000000
----------------
Class A6 $0.00000000
----------------
Class A7 $0.00000000
----------------
Class M $1.12953608
----------------
Class B1 $1.12953608
----------------
Class B2 $1.12953608
----------------
Class B3 $1.12953608
----------------
Class B4 $1.12953608
----------------
Class B5 $1.12953608
----------------
Class R1 $500.00000000
----------------
Class R2 $500.00000000
----------------
(2) Aggregate Principal prepayments included in distribution:
Class A1 $12,651,999.43
--------------------
Class A2 $0.00000000
--------------------
Class A3 $0.00000000
--------------------
Class A4 $0.00000000
--------------------
Class A5 $0.00000000
--------------------
Class A6 $0.00000000
--------------------
Class A7 $0.00000000
--------------------
Class M $0.00000000
--------------------
Class B1 $0.00000000
--------------------
Class B2 $0.00000000
--------------------
Class B3 $0.00000000
--------------------
Class B4 $0.00000000
--------------------
Class B5 $0.00000000
--------------------
Class R1 $0.00000000
--------------------
Class R2 $0.00000000
--------------------
(3) Amount of distribution allocable to interest Pay-out Rate:
Class A1 $4.99583333 5.995%
-----------------------------------
Class A2 $4.92083333 5.905%
-----------------------------------
Class A3 $5.02916667 6.035%
-----------------------------------
Class A4 $5.15416667 6.185%
-----------------------------------
Class A5 $5.23750000 6.285%
-----------------------------------
Class A6 $5.58333333 6.700%
-----------------------------------
Class A7 $5.22083333 6.265%
-----------------------------------
Class S $2.16045318 2.59%
-----------------------------------
Class M $5.58750000 6.705%
-----------------------------------
Class B1 $6.00000000 7.200%
-----------------------------------
Class B2 $7.10416667 8.525%
-----------------------------------
Class B3 $7.42310500 8.908%
-----------------------------------
Class B4 $7.42310500 8.908%
-----------------------------------
Class B5 $7.42310500 8.908%
-----------------------------------
(4) Servicing Compensation: $245,242.84
---------------
The amounts below are for the aggregate of all Certificates:
(5) Pool Principal Balance; $508,986,591.75
----------------
number of Mortgage
Loans: 6,269
----------------
(6) Class Certificate Principal Balance of each Class; Certificate
Principal Balance of Single Certificate of each class:
Single
Certificate
Class Class Balance Balance
--------------------------------------------------------------------
Class A1 $158,844,513.61 $923.51461402
---------------------------------------------
Class A2 $47,000,000.00 $1,000.00000000
---------------------------------------------
Class A3 $83,995,000.00 $1,000.00000000
---------------------------------------------
Class A4 $24,000,000.00 $1,000.00000000
---------------------------------------------
Class A5 $43,000,000.00 $1,000.00000000
---------------------------------------------
Class A6 $32,636,000.00 $1,000.00000000
---------------------------------------------
Class A7 $44,000,000.00 $1,000.00000000
---------------------------------------------
Class M $17,794,877.31 $998.87046392
---------------------------------------------
Class B1 $15,252,751.98 $998.87046392
---------------------------------------------
Class B2 $11,440,063.42 $998.87046392
---------------------------------------------
Class B3 $5,847,387.70 $998.87046392
---------------------------------------------
Class B4 $3,558,975.46 $998.87046392
---------------------------------------------
Class B5 $8,390,104.11 $998.87046392
---------------------------------------------
Class R1 $0.00 $0.00000000
---------------------------------------------
Class R2 $0.00 $0.00000000
---------------------------------------------
$495,759,673.60
(7) Book value of real estate acquired on behalf of Certificate- holders;
number of related Mortgage Loans: $0.00
-----
0
-----
(8) Aggregate Scheduled Principal Balance and number of delinquent
Mortgage Loans:
One Payment Delinquent $3,417,991.14
--------------
47
--------------
Two Payments Delinquent $210,540.03
--------------
3
--------------
Three or more Payments Delinquent $99,839.97
--------------
1
--------------
TOTAL $3,728,371.14
--------------
51
--------------
In foreclosure $663,160.70
--------------
6
--------------
(9) Aggregate Scheduled Principal Balance and number of replaced Mortgage
Loans: $0.00
--
0
--
(10) Unpaid Net Simple Interest Shortfall:
Class A1 $0.00
------
Class A2 $0.00
------
Class A3 $0.00
------
Class A4 $0.00
------
Class A5 $0.00
------
Class A6 $0.00
------
Class A7 $0.00
------
Class S $0.00
------
Class M $0.00
------
Class B1 $0.00
------
Class B2 $0.00
------
Class B3 $0.00
------
Class B4 $0.00
------
Class B5 $0.00
------
(11) Class Certificate Interest Rate of:
Class M 6.705%
--------------
Class B1 7.200%
--------------
Class B2 8.525%
--------------
Class B3 8.908%
--------------
Class B4 8.908%
--------------
Class B5 8.908%
--------------
Class S 2.59%
--------------
(12) Senior Percentage for such Distribution Date 87.749266%
----------
(13) Senior PrepaymentPercentage for such Distribution Date 100.00%
----------
(14) Junior Percentage for such Distribution Date 12.250734%
----------
(15) Junior Prepayment Percentage for such Distribution Date 0.00%
----------
Capitalized terms used in this Certificate shall have the same meanings
as in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Tim Neer
--------------------------------
Name: Tim Neer
Title: Vice President of
Investor Operations
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