GE CAPITAL MORTGAGE SERVICES INC
8-K, 1999-11-23
ASSET-BACKED SECURITIES
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   IN ACCORDANCE WITH RULE 202 OF REGULATION S-T, THIS FORM 8-K IS BEING FILED
             IN PAPER PURSUANT TO A CONTINUING HARDSHIP EXEMPTION.


                       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) November 19, 1999


                       GE Capital Mortgage Services, Inc.
                  (as Seller and Servicer under the Pooling and
                 Servicing Agreement dated as of August 1, 1999,
                  providing for the issuance of REMIC Mortgage
                   Pass-Trough Certificates, Series 1999-21)
                   -----------------------------------------

                       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                (853) 661-6100



<PAGE>


Item 5. Other Events.

     Attached as Exhibit 1 to this Current Report are certain materials (the
"Computational Materials"). The Computational Materials included in Exhibit 1
were prepared and furnished to the Registrant by Salomon Smith Barney Inc. (the
"Underwriter") acting as an Underwriter in respect of certain classes of the
Registrant's REMIC Mortgage Pass-Through Certificates, Series 1999-21 (the
"Certificates"). Certain classes of the Certificates (the "Offered
Certificates") are being offered pursuant to a Prospectus dated November 19,
1999, as supplemented by a related Prospectus Supplement dated November 19, 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 Offered
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 Underwriter, 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 (Salomon Smith Barney 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: NOVEMBER 19, 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
                   (Salomon Smith Barney Inc.)


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