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Previous: DATAWATCH CORP, S-8, 2000-04-07 |
Next: AMERICAN FUNDS TAX EXEMPT SERIES I, N-30D, 2000-04-07 |
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) March 27, 2000
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 March 27, 2000 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 2000-01 $4,874,534.61
Series 2000-02 $1,417,228.23
Series 2000-03 $4,041,192.04
$ 10,332,954.88
================
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 2000-01 99.01 Servicer's Certificate
99.02 Distribution Date Statment
Series 2000-02 99.03 Servicer's Certificate
99.04 Distribution Date Statment
Series 2000-03 99.05 Servicer's Certificate
99.06 Distribution Date Statment
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 : March 27, 2000
<PAGE>
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
- ----------- -----------
99.01 Series 2000-01 Servicer's Certificate
99.02 Series 2000-01 Distribution Date Statement
99.03 Series 2000-02 Servicer's Certificate
99.04 Series 2000-02 Distribution Date Statement
99.05 Series 2000-03 Servicer's Certificate
99.06 Series 2000-03 Distribution Date Statement
Exhibit 99.01
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
March, 2000
Series 2000-01, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 2000 (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 $ 276,467.78
-------------
(b) Interest $ 2,577,920.80
-------------
(c) Total $ 2,854,388.58
-------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 165,818.81
-------------
(b) Interest $ 1,535,971.18
-------------
(c) Total $ 1,701,789.99
-------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 110,648.97
-------------
(b) Interest $ 1,041,949.62
-------------
(c) Total $ 1,152,598.59
-------------
4. Aggregate Principal Prepayments in part received in the
applicable Prepayment Period:
(a) Principal $ 65,421.26
-------------
5. Aggregate Principal Prepayments in full received in the
applicable Prepayment Period:
(a) Principal $ 2,041,980.77
-------------
(b) Interest $ 12,032.45
-------------
(c) Total $ 2,054,013.22
-------------
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 $ 82,546.42
--------------
(b) Interest $ 470.62
--------------
(c) Total $ 83,017.04
--------------
12. Pool Scheduled Principal Balance: $ 386,373,927.96
---------------
13. Available Funds: $ 4,976,844.14
---------------
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: $ 1,182.25
-------------
18. Total interest payments: $ 2,510,427.91
-------------
19. Interest
Unpaid Class
Accrued Certificate Interest Shortfalls Interest
Class Interest Payable Pay-out Rate
- ----- -------- ------------------- ------- ------------
PO $ 0.00 $ 0.00 $ 0.00 %0.000000000
A1 $ 1,381,373.13 $ 0.00 $ 1,381,373.13 %7.499999975
A2 $ 250,000.00 $ 0.00 $ 250,000.00 %7.500000000
A3 $ 144,493.46 $ 0.00 $ 144,493.46 %7.500000172
A4 $ 42,112.50 $ 0.00 $ 42,112.50 %7.500000000
A5 $ 31,593.75 $ 0.00 $ 31,593.75 %7.500000000
A6 $ 133,799.97 $ 0.00 $ 133,799.97 %7.499999818
A7 $ 90,237.50 $ 0.00 $ 90,237.50 %7.500000000
A8 $ 184,255.39 $ 0.00 $ 184,255.39 %7.499999975
A9 $ 46,425.86 $ 0.00 $ 0.00 %7.500000101
S $ 102,309.36 $ 0.00 $ 102,309.36 %0.419850417
M $ 50,083.47 $ 0.00 $ 50,083.47 %7.500000187
B1 $ 20,760.38 $ 0.00 $ 20,760.38 %7.500001671
B2 $ 12,216.39 $ 0.00 $ 12,216.39 %7.499997429
B3 $ 8,550.23 $ 0.00 $ 8,550.23 %7.500002796
B4 $ 6,108.20 $ 0.00 $ 6,108.20 %7.500003607
B5 $ 6,108.32 $ 0.00 $ 6,108.32 %7.500004911
R $ 0.00 $ 0.00 $ 0.00 %0.000000000
20. Principal Distribution Amount: $ 2,466,416.23
-------------
21. Principal Distribution Amount per Certificate:
Principal Distribution Accrual Amount
---------------------- --------------
Class PO $ 13,444.67 $ 0.00
Class A1 $ 1,849,184.29 $ 0.00
Class A2 $ 0.00 $ 0.00
Class A3 $ 292,094.48 $ 0.00
Class A4 $ 0.00 $ 0.00
Class A5 $ 0.00 $ 0.00
Class A6 $ 299,909.25 $ 0.00
Class A7 $ 0.00 $ 0.00
Class A8 $ 46,425.86 $ 0.00
Class A9 $ 0.00 $ 46,425.86
Class S $ 0.00 $ 0.00
Class M $ 5,684.08 $ 0.00
Class B1 $ 2,356.14 $ 0.00
Class B2 $ 1,386.46 $ 0.00
Class B3 $ 970.38 $ 0.00
Class B4 $ 693.23 $ 0.00
Class B5 $ 693.25 $ 0.00
Class R $ 0.00 $ 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: $ 79,445.67
----------
3. Supplemental Servicing Fee amount: $ N/A
----------
4. Credit Losses for prior month: $ 0.00
----------
Category Category Category
A B C
5. Senior Percentage: % 95.688461 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: % 4.311539
-----------
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 Services
Exhibit 99.02
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
March, 2000
Series 2000-01, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 2000 (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 % 8.00262
----------------------
Weighted average maturity 353.25
----------------------
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
----- ----------- ----------- ----------- -----------
PO $ 3.68554331 $ 2.81780613 $ 0.00000000 %0.00000000
A1 $ 8.30474473 $ 7.41507680 $ 6.20379012 %7.49999997
A2 $ 0.00000000 $ 0.00000000 $ 6.25000000 %7.50000000
A3 $ 12.49388254 $ 11.15544206 $ 6.18048077 %7.50000017
A4 $ 0.00000000 $ 0.00000000 $ 6.25000000 %7.50000000
A5 $ 0.00000000 $ 0.00000000 $ 6.25000000 %7.50000000
A6 $ 13.83664360 $ 12.35435617 $ 6.17300900 %7.49999982
A7 $ 0.00000000 $ 0.00000000 $ 6.25000000 %7.50000000
A8 $ 1.57231889 $ 1.40388018 $ 6.24023402 %7.49999997
A9 $ 0.00000000 $ 0.00000000 $ 6.28906258 %7.50000010
S $ 0.00000000 $ 0.00000000 $ 0.34845734 %0.41985042
M $ 0.70882654 $ 0.00000000 $ 6.24560045 %7.50000019
B1 $ 0.70882671 $ 0.00000000 $ 6.24560168 %7.50000167
B2 $ 0.70882413 $ 0.00000000 $ 6.24559816 %7.49999743
B3 $ 0.70882396 $ 0.00000000 $ 6.24560263 %7.50000280
B4 $ 0.70882413 $ 0.00000000 $ 6.24560327 %7.50000361
B5 $ 0.70883078 $ 0.00000000 $ 6.24560438 %7.50000491
R $ 0.00000000 $ 0.00000000 $ 0.00000000 %0.00000000
2. Unanticipated Recoveries: $ 0.00
---------------
B. Accrual Amount
1.
Accrual Amount
Class
A9 $ 46,425.86
2. The amount of servicing compensation received by the Company
during the month preceding the month of distribution:
$ 79,445.67
-----------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 386,373,927.96
---------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 1,273
-----------
3.
Beginning Aggregate Class Ending Aggregate Ending
Certificate Principal Class Certificate Single Certificate
Class Balance Principal Balance Balance Cusip
- ----- ------- ----------------- ------- -----
PO $ 3,541,377.64 $ 3,527,932.96 $ 967.10 GEC0001PO
A1 $ 221,019,701.55 $ 219,170,517.25 $ 984.30 36157BAA8
A2 $ 40,000,000.00 $ 40,000,000.00 $ 1,000.00 36157BAB6
A3 $ 23,118,953.07 $ 22,826,858.59 $ 976.38 36157BAC4
A4 $ 6,738,000.00 $ 6,738,000.00 $ 1,000.00 36157BAD2
A5 $ 5,055,000.00 $ 5,055,000.00 $ 1,000.00 36157BAE0
A6 $ 21,407,995.72 $ 21,108,086.47 $ 973.84 36157BAF7
A7 $ 14,438,000.00 $ 14,438,000.00 $ 1,000.00 36157BAG5
A8 $ 29,480,862.50 $ 29,434,436.64 $ 996.87 36157BAH3
A9 $ 7,428,137.50 $ 7,474,563.36 $ 1,012.54 36157BAJ9
S $ 292,416,601.07 $ 290,132,917.06 $ 988.17 GEC00001S
M $ 8,013,355.00 $ 8,007,670.92 $ 998.59 36157BAL4
B1 $ 3,321,660.06 $ 3,319,303.92 $ 998.59 36157BAM2
B2 $ 1,954,623.07 $ 1,953,236.60 $ 998.59 36157BAN0
B3 $ 1,368,036.29 $ 1,367,065.90 $ 998.59 36157BAZ3
B4 $ 977,311.53 $ 976,618.30 $ 998.59 36157BBA7
B5 $ 977,330.56 $ 976,637.31 $ 998.59 36157BBB5
R $ 0.00 $ 0.00 $ 0.00 36157BAK6
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 25 Principal Balance $ 7,746,115.57
-------- -------------
2. 60-89 days
Number 1 Principal Balance $ 253,653.98
-------- -------------
3. 90 days or more
Number 1 Principal Balance $ 448,942.71
-------- -------------
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: $ 3,914,201.00
-------------
2. Bankruptcy Loss Amount: $ 159,061.00
-------------
3. Fraud Loss Amount: $ 3,911,321.00
-------------
4. Certificate Interest Rate of the Class S Certificate: %0.00000000
-----------
Exhibit 99.03
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
March, 2000
Series 2000-02, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 2000 (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 $ 92,514.31
-------------
(b) Interest $ 962,050.92
-------------
(c) Total $ 1,054,565.23
-------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 52,448.41
-------------
(b) Interest $ 565,039.14
-------------
(c) Total $ 617,487.55
-------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 40,065.90
-------------
(b) Interest $ 397,011.78
-------------
(c) Total $ 437,077.68
-------------
4. Aggregate Principal Prepayments in part received in the
applicable Prepayment Period:
(a) Principal $ 11,656.94
-------------
5. Aggregate Principal Prepayments in full received in the
applicable Prepayment Period:
(a) Principal $ 428,198.09
-------------
(b) Interest $ 2,968.11
-------------
(c) Total $ 431,166.20
-------------
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: $ 137,759,893.86
---------------
13. Available Funds: $ 1,467,584.68
---------------
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: $ 595.71
-------------
18. Total interest payments: $ 935,215.36
-------------
19. Interest
Unpaid Class
Accrued Certificate Interest Shortfalls Interest
Class Interest Payable Pay-out Rate
- ----- -------- ------------------- ------- ------------
PO $ 0.00 $ 0.00 $ 0.00 %0.000000000
A1 $ 643,720.89 $ 0.00 $ 643,720.89 %7.749999941
A2 $ 82,098.33 $ 0.00 $ 82,098.33 %7.749999685
A3 $ 82,044.06 $ 0.00 $ 82,044.06 %7.749999711
S $ 50,356.45 $ 0.00 $ 50,356.45 %0.576454705
M $ 38,046.71 $ 0.00 $ 38,046.71 %7.750000413
B1 $ 13,585.80 $ 0.00 $ 13,585.80 %7.749997170
B2 $ 12,224.00 $ 0.00 $ 12,224.00 %7.750001626
B3 $ 5,434.32 $ 0.00 $ 5,434.32 %7.749997207
B4 $ 3,168.95 $ 0.00 $ 3,168.95 %7.750011041
B5 $ 4,535.85 $ 0.00 $ 4,535.85 %7.750001338
R $ 0.00 $ 0.00 $ 0.00 %0.000000000
20. Principal Distribution Amount: $ 532,369.32
-------------
21. Principal Distribution Amount per Certificate:
Principal Distribution Accrual Amount
---------------------- --------------
Class PO $ 1,382.65 $ 0.00
Class A1 $ 514,546.87 $ 0.00
Class A2 $ 0.00 $ 0.00
Class A3 $ 8,480.83 $ 0.00
Class S $ 0.00 $ 0.00
Class M $ 3,932.86 $ 0.00
Class B1 $ 1,404.35 $ 0.00
Class B2 $ 1,263.59 $ 0.00
Class B3 $ 561.74 $ 0.00
Class B4 $ 327.57 $ 0.00
Class B5 $ 468.86 $ 0.00
Class R $ 0.00 $ 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: $ 1.01
--------------
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: $ 28,467.14
----------
3. Supplemental Servicing Fee amount: $ N/A
----------
4. Credit Losses for prior month: $ 0.00
----------
Category Category Category
A B C
5. Senior Percentage: % 91.298542 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: % 8.701458
-----------
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 Services
Exhibit 99.04
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
March, 2000
Series 2000-02, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 2000 (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 % 8.37495
-----------------------
Weighted average maturity 351.96
-----------------------
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
----- ----------- ----------- ----------- -----------
PO $ 1.07277163 $ 0.26033130 $ 0.00000000 % 0.00000000
A1 $ 5.05955742 $ 4.25173297 $ 6.32973008 % 7.74999994
A2 $ 0.00000000 $ 0.00000000 $ 6.45833307 % 7.74999969
A3 $ 0.66715151 $ 0.56063247 $ 6.45406388 % 7.74999971
S $ 0.00000000 $ 0.00000000 $ 0.47201292 % 0.57645471
M $ 0.66715182 $ 0.00000000 $ 6.45406446 % 7.75000041
B1 $ 0.66714964 $ 0.00000000 $ 6.45406176 % 7.74999717
B2 $ 0.66715417 $ 0.00000000 $ 6.45406547 % 7.75000163
B3 $ 0.66714964 $ 0.00000000 $ 6.45406176 % 7.74999721
B4 $ 0.66714868 $ 0.00000000 $ 6.45407332 % 7.75001104
B5 $ 0.66714134 $ 0.00000000 $ 6.45406525 % 7.75000134
R $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
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:
$ 28,467.14
-----------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 137,759,893.86
---------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 1,015
---------------
3.
Beginning Aggregate Class Ending Aggregate Ending
Certificate Principal Class Certificate Single Certificate
Class Balance Principal Balance Balance Cusip
- ----- ------- ----------------- ------- -----
PO $ 1,281,850.96 $ 1,280,468.30 $ 993.49 GEC0002PO
A1 $ 99,672,912.76 $ 99,158,365.88 $ 975.03 36157BAP5
A2 $ 12,712,000.00 $ 12,712,000.00 $ 1,000.00 36157BAQ3
A3 $ 12,703,596.86 $ 12,695,116.03 $ 998.67 36157BAR1
S $ 104,826,518.79 $ 104,327,154.39 $ 977.90 GEC00002S
M $ 5,891,103.17 $ 5,887,170.31 $ 998.67 36157BAT7
B1 $ 2,103,608.51 $ 2,102,204.16 $ 998.67 36157BAU4
B2 $ 1,892,747.99 $ 1,891,484.41 $ 998.67 36157BAV2
B3 $ 841,443.40 $ 840,881.66 $ 998.67 36157BAW0
B4 $ 490,675.43 $ 490,347.86 $ 998.67 36157BAX8
B5 $ 702,325.04 $ 701,855.17 $ 998.67 36157BAY6
R $ 0.00 $ 0.00 $ 0.00 36157BAS9
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 18 Principal Balance $ 3,273,772.72
-------- -------------
2. 60-89 days
Number 3 Principal Balance $ 432,825.33
-------- -------------
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: $ 1,996,611.00
--------------
2. Bankruptcy Loss Amount: $ 135,000.00
--------------
3. Fraud Loss Amount: $ 2,806,815.00
--------------
4. Certificate Interest Rate of the Class S Certificate:%0.00000000
-----------
Exhibit 99.05
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
March, 2000
Series 2000-03, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of February 1, 2000
(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 $ 605,369.16
-------------
(b) Interest $ 1,138,348.57
-------------
(c) Total $ 1,743,717.73
-------------
2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 203,936.49
-------------
(b) Interest $ 394,783.23
-------------
(c) Total $ 598,719.72
-------------
3. Aggregate Monthly Advances this month:
(a) Principal $ 401,432.67
-------------
(b) Interest $ 743,565.34
-------------
(c) Total $ 1,144,998.01
-------------
4. Aggregate Principal Prepayments in part received in the
applicable Prepayment Period:
(a) Principal $ 196,160.76
-------------
5. Aggregate Principal Prepayments in full received in the
applicable Prepayment Period:
(a) Principal $ 1,241,396.84
-------------
(b) Interest $ 4,537.13
-------------
(c) Total $ 1,245,933.97
-------------
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 $ 933,502.03
---------------
(b) Interest $ 5,424.13
---------------
(c) Total $ 938,926.16
---------------
12. Pool Scheduled Principal Balance: $ 183,107,419.84
---------------
13. Available Funds: $ 4,087,532.14
---------------
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: $ 695.74
-------------
18. Total interest payments: $ 1,111,103.31
-------------
19. Interest
Unpaid Class
Accrued Certificate Interest Shortfalls Interest
Class Interest Payable Pay-out Rate
- ----- -------- ------------------- ------- ------------
PO $ 0.00 $ 0.00 $ 0.00 % 0.000000000
A $ 1,037,621.67 $ 0.00 $1,037,621.67 % 7.000000022
S $ 46,340.09 $ 0.00 $ 46,340.09 % 0.451696385
M $ 12,483.33 $ 0.00 $ 12,483.33 % 6.999998131
B1 $ 3,797.50 $ 0.00 $ 3,797.50 % 7.000000000
B2 $ 3,255.00 $ 0.00 $ 3,255.00 % 7.000000000
B3 $ 3,797.50 $ 0.00 $ 3,797.50 % 7.000000000
B4 $ 2,170.00 $ 0.00 $ 2,170.00 % 7.000000000
B5 $ 1,637.64 $ 0.00 $ 1,637.64 % 7.000020339
R $ 0.58 $ 0.00 $ 0.58 % 6.960000000
20. Principal Distribution Amount: $ 2,976,428.83
-------------
21. Principal Distribution Amount per Certificate:
Principal Distribution Accrual Amount
---------------------- --------------
Class PO $ 38,896.96 $ 0.00
Class A $ 2,922,331.27 $ 0.00
Class S $ 0.00 $ 0.00
Class M $ 6,945.43 $ 0.00
Class B1 $ 2,112.84 $ 0.00
Class B2 $ 1,811.01 $ 0.00
Class B3 $ 2,112.84 $ 0.00
Class B4 $ 1,207.34 $ 0.00
Class B5 $ 911.14 $ 0.00
Class R $ 100.00 $ 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: $ 28,576.01
----------
3. Supplemental Servicing Fee amount: $ N/A
----------
4. Credit Losses for prior month: $ 0.00
----------
Category Category Category
A B C
5. Senior Percentage: % 97.450986 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: % 2.549014
-----------
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 Services
Exhibit 99.06
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
March, 2000
Series 2000-03, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of February 1, 2000
(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 % 7.432669
---------------------
Weighted average maturity 172.40
---------------------
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
----- ----------- ----------- ----------- -----------
PO $ 10.94760423 $ 7.30006151 $ 0.00000000 % 0.00000000
A $ 16.42885163 $ 13.18343010 $ 5.83333335 % 7.00000002
S $ 0.00000000 $ 0.00000000 $ 0.37641365 % 0.45169638
M $ 3.24552804 $ 0.00000000 $ 5.83333178 % 6.99999813
B1 $ 3.24552995 $ 0.00000000 $ 5.83333333 % 7.00000000
B2 $ 3.24553763 $ 0.00000000 $ 5.83333333 % 7.00000000
B3 $ 3.24552995 $ 0.00000000 $ 5.83333333 % 7.00000000
B4 $ 3.24553763 $ 0.00000000 $ 5.83333333 % 7.00000000
B5 $ 3.24552330 $ 0.00000000 $ 5.83335028 % 7.00002034
R $ 1000.00000000 $ 802.50000000 $ 5.80000000 % 6.96000000
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:
$ 28,576.01
-----------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 183,107,419.84
---------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 541
---------------
3.
Beginning Aggregate Class Ending Aggregate Ending
Certificate Principal Class Certificate Single Certificate
Class Balance Principal Balance Balance Cusip
- ----- ------- ----------------- ------- -----
PO $ 3,553,011.16 $ 3,514,114.20 $ 989.05 GEC0003PO
A $ 177,878,000.00 $ 174,955,668.73 $ 983.57 36158GHQ4
S $ 123,109,482.05 $ 121,247,653.85 $ 984.88 GEC00003S
M $ 2,140,000.00 $ 2,133,054.57 $ 996.75 36158GHS0
B1 $ 651,000.00 $ 648,887.16 $ 996.75 36158GHT8
B2 $ 558,000.00 $ 556,188.99 $ 996.75 36158GHU5
B3 $ 651,000.00 $ 648,887.16 $ 996.75 36158GHV3
B4 $ 372,000.00 $ 370,792.66 $ 996.75 36158GHW1
B5 $ 280,737.47 $ 279,826.33 $ 996.75 36158GHX9
R $ 100.00 $ 0.00 $ 0.00 36158GHR2
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 $ 3,214,296.89
-------- -------------
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: $ 1,860,838.00
--------------
2. Bankruptcy Loss Amount: $ 52,477.00
--------------
3. Fraud Loss Amount: $ 1,860,838.00
--------------
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.
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