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): September 25, 1998
Structured Asset Mortgage Investments, Inc.
Mortgage Pass-Through certificates, Series 1998-5
(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 Structured Asset
Mortgage Investments, Inc. Mortgage Pass-Through Certificates, Series 1998-5, on
September 25, 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 Norwest Bank
Minnesota, National Association as Trustee. Complete Certificateholder
report of the underlying Securities may-be obtain from the trustee, Norwest
Bank Minnesota, National Association.
Item 7. Financial Statements and Exhibits.
c) Exhibits.
(28.5) September 25, 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: October 5, 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) September 25, 1998 - Information on Distribution to
Certificateholders
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<TABLE>
September 25, 1998 - INFORMATION ON DISTRIBUTION EXHIBIT 28.5
TO CERTIFICATEHOLDERS
Structured Asset Mortgage Investments, Inc.
Mortgage Pass-Through Certificates, Series 1998-5
<CAPTION>
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Beginning Pass Thru Principal Interest Total Ending Cert./
Type Class Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Notional Bal.
<S> <C> <C> <C> <C> <C> <C> <C>
Senior A-1 12,980,252 6.51% 208,517 70,457 278,974 12,771,735
A-2 65,192,135 6.51% 997,592 353,863 1,351,455 64,194,542
A-3 37,747,776 6.51% 718,702 204,895 923,597 37,029,075
A-4 9,865,250 6.51% 0.00 53,549 53,549 9,865,250
B-1 683,015 6.51% 4,238 3,707 7,945 678,778
B-2 341,557 6.51% 2,119 1,854 3,973 339,437
B-3 273,226 6.51% 1,695 1,483 3,178 271,530
B-4 136,662 6.51% 848 742 1,590 135,814
B-5 136,564 6.51% 847 741 1,589 135,717
B-6 136,662 6.51% 848 742 1,590 135,814
R-1 0 6.51% 0 0.00 0 0.00
R-11 0 6.51% 0 0.00 0 0.00
R-111 0 6.51% 0 0.00 0 0.00
127,493,098 1,935,407 692,032 2,627,440 125,557,691
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