FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): August 1, 1998
Structured Asset Mortgage Investments, Inc.
Mortgage Pass-Through certificates, Series 1998-2
(Exact name of registrant as specified in its charter)
Delaware 33-44658 13-3633241
(State or other (Commission File Number) (IRS Employer Identification No.)
jurisdiction of
incorporation)
245 Park Avenue, New York, New York 10167
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 272-2000
Not Applicable
(Former name or former address, if changed since last report.)
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Item 5. Other Events.
1. A distribution was made to the Certificateholders of the
Structured Asset Mortgage Investments , Inc. Mortgage Pass-Through
Certificates, Series 1998-2, on August 1, 1998. The distribution was made
pursuant to the provisions of a Polling and Servicing Agreement dated
February 25, 1998, between and among Structured Asset Mortgage Investments,
Inc., as Seller, and The Bank of New York., as Trustee. Complete
Certificateholder report of the underlying Securities may-be obtain from
the trustee, The Bank of New York at 101 Barclay Street,Suite 12E, New York,
New York 10286
Item 7. Financial Statements and Exhibits.
c) Exhibits.
(28.5) August 1, 1998 - Information on Distribution to
Certificateholders.
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SIGNATURE
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.
Structured Asset Mortgage Investments Inc.
(Registrant)
Date: August 14, 1998 By: /S/William J. Montgoris
William J. Montgoris
Treasurer and Secretary
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STRUCTURED ASSET MORTGAGE INVESTMENTS, INC.
FORM 8-K
CURRENT REPORT
Exhibit Index
Exhibit No. Description
(28.5) August 1, 1998 - Information on Distribution to
Certificateholders
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<TABLE>
August 1, 1998 - INFORMATION ON DISTRIBUTION EXHIBIT 28.5
TO CERTIFICATEHOLDERS
Structured Asset Mortgage Investments, Inc.
Mortgage Pass-Through Certificates, Series 1998-2
<CAPTION>
<PAGE>
Beginning Pass Thru Principal Interest Total Principal Int. Ending Cert./ Deferred
Type Class Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Short. Notional Bal. Amounts
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Senior A-1 59,623,983 6.75% 410,817 335,384 746,201 0 0 59,213,166 0
A-2 64,862,910 6.75% 0 364,854 364,854 0 0 64,862,910 0
A-3 45,526,720 6.75% 0 256,088 256,088 0 0 45,526,720 0
A-4 24,947,273 6.75% 0 140,328 140,328 0 0 24,947,273 0
A-5 9,978,809 6.75% 0 56,131 56,131 0 0 9,978,809 0
B 61,054,665 6.75% 122,419 343,432 465,851 0 0 60,932,246 0
C 45,662,732 6.75% 91,557 256,853 348,410 0 0 45,571,175 0
D 74,137,808 6.75% 148,652 417,025 565,677 0 0 73,989,156 0
E 42,840,879 6.75% 85,899 240,980 326,879 N/A 0 42,754,979 N/A
F 53,102,166 6.75% 106,474 298,700 405,174 0 0 52,995,692 0
G 14,878,867 6.75% 29,833 83,694 113,527 0 0 14,849,034 0
H 16,418,066 6.75% 32,919 92,352 125,271 0 0 16,385,146 29,334
X 513,034,981 0.59% N/A 255,914 255,914 0 0 512,006,308 N/A
PO 1,920,235 N/A 190,888 0.00 190,888 N/A 0 1,729,347 N/A
Residual R-1 0 6.75% 0 0.00 0.00 0.00 0 0 N/A
R-2 0 6.75% 0 523 523 0.00 0 0 N/A
R-3 103 6.75% 103 0 103 0.00 0 0 N/A
Totals 513,034,981 1,219,561 3,142,259 4,361,820 0.00 0 512,006,308 29,334
Factors per $1,000
Beginning Pass Thru CUSIP Principal Interest Ending Cert./
Type Name Cert. Bal.(Face) Rate Numbers Dist. Dist. Notional Bal.
Senior A-1 59,623,983 6.75% 073914F24 6.890123 5.625000 993.109877
A-2 64,862,910 6.75 073914F32 0.000000 5.625000 1,000.000000
A-3 45,526,720 6.75 073914F40 0.000000 5.625000 1,000.000000
A-4 24,947,273 6.75 073914F57 0.000000 5.625000 1,000.000000
A-5 9,978,809 6.75 073914F65 0.000000 5.625000 1,000.000000
B 61,399,747 6.75 073914C27 1.993805 5.593386 992.385941
C 45,920,819 6.75 073914C35 1.993805 5.593386 992.385941
D 74,556,836 6.75 073914C43 1.993805 5.593386 992.385941
E 43,083,016 6.75 073914C50 1.993805 5.593386 992.385941
F 53,402,301 6.75 073914C68 1.993805 5.593386 992.385941
G 14,962,963 6.75 073914C76 1.993805 5.593386 992.385941
H 16,510,861 6.75 PRIVATE 1.993805 5.593386 992.385941
X 515,964,267 0.59 073914C84 0.000000 0.495991 992.385941
PO 2,008,801 N/A PRIVATE 95.025928 0.000000 860.885208
,
R-1 100 6.75 PRIVATE 0.000000 0.000000 0.000000
R-2 100 6.75 PRIVATE 0.000000 5,228.740000 0.000000
R-3 102 6.75 PRIVATE 1,000.000000 5.625000 0.000000
Totals 515,964,267
Beginning Pass Thru Prin. Int. Total Prin. Int. Ending
Issue Cert. Bal. Rate Dist. Amt.Dist. Amt. Dist. Losses Shortfall Cert. Bal.
AMERT 9303 3B 16,611,875 8.2182 487,026 111,603 598,629 0 2,164 16,316,867
BSMSI 9308 M 18,881,523 7.5000 24,182 118,010 142,192 0 0 18,857,341
CHASE 94E B-2 1,631,699 6.2500 8,606 8,498 17,105 0 0 1,631,092
CHEMPT 9601 B-3 2,350,881 7.2500 2,230 14,203 16,433 0 0 2,348,651
CITIMT 9016 B 5,372,251 9.5000 145,185 42,530 187,715 1,130 0 5,225,935
CITIMT 9205 B 9,516,504 8.0000 0 63,443 63,443 0 0 9,516,504
CITIMT 9219 B 9,109,558 7.5000 0 56,935 56,935 0 0 9,109,558
CITIMT 9401 B-1 10,336,726 6.5000 15,359 55,991 71,350 0 0 10,321,367
CITIMT 9405 B-1 15,869,060 6.2500 24,445 82,651 107,096 0 0 15,844,615
CITIMT 9407 B-1 9,423,243 6.2500 12,484 49,079 61,564 0 0 9,410,759
CITIMT 9410 B-1 8,679,767 6.2500 10,432 45,207 55,639 0 0 8,669,336
CITIMT 9411 B-1 14,739,578 6.2500 17,754 76,769 94,522 0 0 14,721,824
CITIMT 9413 B-2 1,177,799 6.5000 1,449 6,380 7,829 0 0 1,176,350
CITIMT 9502 B-3 1,277,674 7.5000 1,444 7,985 9,429 0 0 1,276,230
CITIMT 9601 B-1 2,467,708 7.5000 2,046 15,239 17,285 0 185 2,465,662
CITIMT 9703 B-1 2,004,852 7.2500 1,557 12,113 13,670 0 0 2,003,295
CITIMT 9703 B-2 2,004,852 7.2500 1,557 12,113 13,670 0 0 2,003,295
CITIMT 9707 B-1 2,011,050 7.0000 1,573 11,731 13,304 0 0 2,009,478
CAPPTC 94C B-1 5,708,497 6.7500 8,337 32,110 40,447 0 0 5,700,161
CFC 9301 B-1 18,880,933 7.1250 24,416 112,106 136,522 0 0 18,856,517
CFC 9401 B-1 8,527,602 6.8750 10,936 48,856 59,792 0 0 8,516,666
CFC 9409 B-2 3,206,177 6.5000 3,978 17,367 21,345 0 0 3,202,199
CFC 9418 B-3 1,689,485 8.0000 4,071 11,263 15,334 0 0 1,685,414
CFC 9602 B-2 2,799,502 7.7500 2,365 18,080 20,445 0 0 2,797,137
CFC 9705 B-3 2,084,283 7.5000 1,518 13,027 14,544 0 0 2,082,766
FBCS 9302R 1 8,325,034 7.4250 40,172 51,511 91,683 0 0 8,284,862
CWD 94A B-3 1,889,546 6.7500 2,392 10,629 13,021 0 0 1,887,153
CWD 94C B-2 2,900,409 6.5000 3,482 15,711 19,193 0 0 2,896,927
Beginning Pass Thru Prin. Int. Total Prin. Int. Ending
Issue Cert. Bal. Rate Dist. Amt.Dist. Amt. Dist. Losses Shortfall Cert. Bal.
CWD 94G B-1 4,377,267 6.5000 4,927 23,710 28,637 0 0 4,372,340
RAST 96A3 B-1-B 6,886,100 7.5000 4,932 42,680 47,612 0 358 6,881,168
RAST 96A4 B-2 5,013,162 7.5000 3,543 30,732 34,275 0 600 5,009,619
DLJ 9403 B-1 6,672,178 6.5000 8,272 36,141 44,413 0 0 6,663,906
GECAP 9401 B-2 7,537,889 6.5000 9,761 40,493 50,254 0 337 7,528,127
GECAP 9416 B-2 3,032,768 6.5000 3,856 16,275 20,131 0 152 3,028,912
GECAP 9427 B-2 2,217,498 6.5000 2,913 12,011 14,924 0 0 2,214,585
GECAP 9507 B-2 4,854,270 7.5000 4,425 30,339 34,764 0 0 4,849,846
GECAP 9615 B-1 3,089,632 7.7500 2,418 19,954 22,372 0 0 3,087,214
GECAP 9616 B-2 2,482,217 7.7500 1,780 16,031 17,811 0 0 2,480,437
GECAP 9701 B-1 3,705,920 7.5000 2,917 23,162 26,079 0 0 3,703,003
GECAP 9702 1-B-2 4,443,912 7.5000 3,483 27,774 31,257 0 0 4,440,429
GECAP 9709 1-B-1 4,733,640 7.2500 3,548 28,599 32,147 0 0 4,730,093
GECAP 9709 1-B-2 3,736,901 7.2500 2,801 22,577 25,378 0 0 3,734,101
GECAP 9709 2-B-2 2,614,967 7.0000 2,018 15,254 17,272 0 0 2,612,950
GECAP 9712 B-1 6,100,714 7.0000 4,574 35,588 40,162 0 0 6,096,140
GECAP 9712 B-2 4,816,353 7.0000 3,611 28,095 31,707 0 0 4,812,741
HMSI 9705 B-2 4,925,657 7.2500 3,870 29,759 33,629 0 0 4,921,787
MSCAPI 9601 B-2 2,302,930 7.2500 2,177 13,914 16,091 0 0 2,300,753
MORSRV 9602 B-1 1,991,871 7.2500 3,925 12,034 15,959 0 0 1,987,946
NSCOR 9604 B-1 4,711,249 7.7500 3,862 30,427 34,289 0 0 4,707,387
NSCOR 9605 B-1 4,500,099 8.0000 3,351 29,937 33,287 0 65 4,496,748
PWMAC 9307 M-3 1,850,767 7.5000 10,395 11,567 21,963 0 0 1,840,371
PWMAC 9402 M-2 3,282,447 6.5000 4,321 17,800 22,101 0 0 3,278,126
PWMAC 9402 M-3 2,417,028 6.5000 3,182 13,092 16,274 0 0 2,413,846
PNC 9502 B-3 2,626,937 7.5000 2,654 16,418 19,072 0 0 2,624,283
PNC 9702 B-2 1,753,186 7.5000 1,410 10,958 12,367 0 0 1,751,776
PNC 9705 B-2 2,609,811 7.2500 1,893 15,769 17,662 0 (1) 2,607,918
Beginning Pass Thru Prin. Int. Total Prin. Interest Ending
Issue Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfall Cert. Bal.
PNC 9705 B-3 3,479,749 7.250 2,525 21,025 23,550 0 (1) 3,477,225
PHMSC 93E 2-B 20,683,650 7.394 86,971 127,425 214,397 0 25 20,596,679
PHMSC 93L 3-B-3 5,000,000 6.641 0 27,672 27,672 0 0 5,000,000
PHMSC 94A 5-B 20,216,159 6.803 19,313 114,612 133,925 0 0 20,196,846
PHMSC 94E 2-B 31,538,493 7.339 8,951 192,829 201,780 0 80 31,529,542
PHMSC 95A 3-B 6,260,832 8.684 6,096 46,856 52,953 0 (1,548) 6,254,736
RFC 93S10 M-2 1,828,581 8.500 1,776 12,804 14,580 148 1,826,805
RFC 93S18 M-2 5,858,374 7.500 7,146 35,848 42,994 0 767 5,851,228
RFC 93S18 M-3 3,529,555 7.500 4,305 43,215 47,520 0 (21,155) 3,525,250
RFC 93S21 M-3 2,560,815 7.500 8,998 15,617 24,616 0 388 2,551,816
RFC 93S22 M-2 4,086,835 7.000 5,301 47,378 52,679 0 (23,538) 4,081,534
RFC 93S22 M-3 2,452,111 7.000 0 7,552 0 0 6,752 2,452,111
RFC 93S24 M-3 3,569,678 7.000 4,558 20,577 25,135 0 246 3,565,120
RFC 93S26 M-2 5,325,282 7.500 6,618 32,702 39,320 0 581 5,318,664
RFC 93S26 M-3 3,626,276 7.500 4,507 47,554 52,061 0 (24,890) 3,621,770
RFC 93S27 M-3 1,962,322 7.500 2,296 16,577 18,873 0 (4,313) 1,960,026
RFC 93S28 M-2 3,033,049 7.000 3,845 17,565 21,410 0 128 3,029,204
RFC 93S28 M-3 2,022,978 7.000 2,565 11,716 14,280 0 85 2,020,413
RFC 93S34 M-3 2,020,019 7.000 2,540 11,662 14,202 0 122 2,017,478
RFC 94S3 M-3 1,420,577 6.738 1,767 7,932 9,699 0 44 1,418,810
RFC 95R20 M-3 3,177,113 7.500 3,125 19,853 22,978 0 4 3,173,988
RFC 96S10 M-2 6,551,370 7.500 5,723 40,935 46,658 0 11 6,545,647
RFC 96S14 M-2 3,591,874 7.500 3,784 22,439 26,223 0 10 3,588,090
RFC 96S14 M-3 1,795,937 7.500 1,892 11,220 13,112 0 5 1,794,045
RFC 96S16 M-2 4,468,299 7.750 8,247 28,582 36,829 0 276 4,460,052
RFC 96S18 M-2 2,625,400 8.000 1,901 16,923 18,823 0 580 2,623,500
RFC 96S23 M-2 3,202,414 7.750 10,361 20,428 30,789 0 255 3,192,053
RFC 96S25 M-2 3,146,707 7.750 2,338 20,165 22,503 0 157 3,144,369
Beginning Pass Thru Prin. Int. Total Prin. Interest Ending
Issue Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfall Cert. Bal.
RALI 97QS12 M-2 4,451,702 7.25 2,960 26,883 29,843 0 13 4,448,742
RYLPT 92A 1-B 1,500,000 8.29 0 10,370 10,370 0 0 1,500,000
RYLPT 9304 B-2 5,109,600 7.50 6,592 31,935 38,527 0 0 5,103,008
SBMSI 92D B-4 4,114,312 8.01 4,750 26,736 31,486 0 742 4,109,561
SBMSI 9409 B-2 4,077,394 7.00 4,643 23,785 28,428 0 0 4,072,751
SASI 9405 B-2 4,756,972 7.00 5,710 27,749 33,459 0 0 4,751,262
SASI 9405 B-3 3,567,729 7.00 4,283 20,812 25,094 0 0 3,563,447
SASI 9504 B-2 4,277,188 7.50 3,858 26,732 30,590 0 0 4,273,330
SASI 93J 3-B 16,187,987 6.80 4,719 91,840 96,559 0 0 16,183,268
SASCO 9601 B-1 3,144,391 7.25 2,979 18,997 21,977 0 0 3,141,411
SASCO 9601 B-2 1,617,199 7.25 1,532 9,771 11,303 0 0 1,615,667
SASCO 9602 B-2 2,443,362 7.00 3,009 14,253 17,262 0 0 2,440,353
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