All information in this Term Sheet, whether regarding assets backing any
securities discussed herein or otherwise, will be superseded by the
information contained in the final prospectus.
June 8, 2000
--------------------------------------------------------------------------------
Preliminary Structural and Collateral Term Sheet
--------------------------------------------------------------------------------
$121,562,500 (approximate) of Senior Certificates
GE Capital Mortgage Services, Inc., Depositor
GE Capital Mortgage Services, Inc., Series 2000-8
Features of the Transaction
---------------------------
o Offering consists of $121,562,500 of senior securities with a Certificate
Interest Rate of 7.50% expected to be rated AAA by both S&P and Fitch
o The expected amount of credit support for the senior certificates is 2.75%
in the form of subordination with a shifting interest structure and a five
year prepayment lockout
o Collateral consists of single family, 10-year and 15-year, fixed-rate
residential, first mortgages originated by GECMSI
o All mortgage loans with original loan-to-value ratios greater than 80% have
private mortgage insurance
o The amount of senior certificates is approximate and may vary by up to 5%
Preliminary Mortgage Pool Data (approximate)
--------------------------------------------
Total Outstanding Principal Balance: $125,000,000
Number of Mortgage Loans: 385
Average Principal Balance of the Mortgage Loans: $325,000
Weighted Average Annual Mortgage Interest Rate: 7.87 +/- .1%
Expected Servicing Fees for the Mortgage Loans: 0.20% to 0.29%
Weighted Average Maturity: 175 +/- 2 mos
Weighted Average Seasoning: 4 +/- 2 mos
Weighted Average Original Loan-To-Value Ratio: 70%
Owner Occupied: 91%
Originated Under the Full or Alternative
Documentation Program: 87%
Geographic Distribution*: Type of Dwelling*:
------------------------- ------------------
California 23% Single-Family 68%
Texas 9 PUD 27
Florida 6 Condominium 4
New Jersey 5 Two-Family 1
New York 4 Total 100%
Arizona 4
Virginia 4
Other States 47
Total 100%
*Column totals may not add due to rounding.
Key Terms
---------
Issuer: GE Capital Mortgage Services, Inc. 2000-8 Trust
Underwriter: Goldman, Sachs & Co.
Depositor/Servicer: GE Capital Mortgage Services, Inc. ("GECMSI")
Trustee: State Street Bank and Trust Company
Type of Issuance: Public
Servicer Advancing: Yes, subject to recoverability
Compensating Interest: Yes, to the extent of the lesser of (i) 1/12th
of 0.125% of the Pool Scheduled Principal Balance for
such Distribution Date and (ii) aggregate monthly
servicing fee for such Distribution Date
Legal Investment: The senior certificates are SMMEA eligible at
settlement
Interest Accrual: Prior calendar month
Clean Up Call: 10% of the Cut-off Date principal balance of the
Mortgage Loans
ERISA Eligible: Underwriter's exemption may apply to senior
certificates, however prospective purchasers should
consult their own counsel
Tax Treatment: Single REMIC; senior certificates are regular interests
Structure: Senior/Subordinate; shifting interest with a five year
prepayment lockout to junior certificates
Expected Subordination: 2.75%
Expected Rating
Agencies: Standard & Poor's ("S&P") and Fitch IBCA, Inc.
("Fitch")
Minimum Denomination: Senior certificates - $25,000
Delivery: Senior certificates - DTC
Time Table
----------
Expected Settlement: June 29, 2000
Cut-off Date: June 1, 2000
First Distribution Date: July 25, 2000
Distribution Date: 25th or next business day
This material is for your private information and we are not soliciting
any action based upon it. This material is not to be construed as an offer to
sell or the solicitation of any offer to buy any security in any jurisdiction
where such an offer or solicitation would be illegal. This material is based on
information that we consider reliable, but we do no represent that it is
accurate or complete and it should not be relied upon as such. By accepting this
material the recipient agrees that it will not distribute or provide the
material to any other person. The information contained in this material may not
pertain to any securities that will actually be sold. The information contained
in this material may be based on assumptions regarding market conditions and
other matters as reflected therein. We make no representations regarding the
reasonableness of such assumptions or the likelihood that any of such
assumptions will coincide with actual market conditions or events, and this
material should not be relied upon for such purposes. We and our affiliates,
officers, directors, partners and employees, including persons involved in the
preparation or issuance of this material may, from time to time, have long or
short positions in, and buy or sell, the securities mentioned herein or
derivatives thereof (including options). This material may be filed with the
Securities and Exchange Commission (the "SEC") and incorporated by reference
into an effective registration statement previously filed with the SEC under
Rule 415 of the Securities Act of 1933, including in cases where the material
does not pertain to securities that are ultimately offered for sale pursuant to
such registration statement. Information contained in this material is current
as of the date appearing on this material only. Information in this material
regarding the securities and the assets backing any securities discussed herein
supersedes all prior information regarding such securities and assets. Any
information in the material, whether regarding the assets backing any securities
discussed herein or otherwise, will be superseded by the information included in
the final prospectus for any securities actually sold to you.
This material is furnished to you solely by Goldman, Sachs & Co., acting as
underwriter and not as agent of the issuer.
