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 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 September 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.
(28.6) September 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: September 10, 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
(28.6) September 1, 1998 - Information on Distribution to
Certificateholders
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<TABLE>
September 1, 1998 - INFORMATION ON DISTRIBUTION EXHIBIT 28.6
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 59,213,166 6.75% 443,356 333,074 776,430 0 0 58,769,811 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 60,932,246 6.75% 132,082 342,744 474,826 0 0 60,800,163 0
C 45,571,175 6.75% 98,784 256,338 355,122 0 0 45,472,391 0
D 73,989,156 6.75% 160,386 416,189 576,575 0 0 73,828,770 0
E 42,754,979 6.75% 92,680 240,497 333,176 0 0 42,662,300 0
F 52,995,692 6.75% 114,878 298,101 412,979 0 0 52,880,814 0
G 14,849,034 6.75% 32,188 83,526 115,714 0 0 14,816,846 0
H 16,385,146 6.75% 35,518 92,166 127,684 0 0 16,349,628 0
X 512,006,308 0.44% N/A 188,551 188,551 N/A 0 510,896,436 N/A
PO 1,729,347 N/A 412,889 0.00 412,889 N/A 0 1,316,458 N/A
Residual R-1 0 6.75% 0 0.00 0.00 0.00 0 0 N/A
R-2 0 6.75% 0 891 891 0.00 0 0 N/A
R-3 0 6.75% 0 0 0 0.00 0 0 N/A
Totals 512,006,308 1,522,761 3,069,478 4,592,238 0.00 0 510,896,436 0
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 7.435859 5.586243 985.674018
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 2.151187 5.582171 990.234754
C 45,920,819 6.75 073914C35 2.151187 5.582171 990.234754
D 74,556,836 6.75 073914C43 2.151187 5.582171 990.234754
E 43,083,016 6.75 073914C50 2.151187 5.582171 990.234754
F 53,402,301 6.75 073914C68 2.151187 5.582171 990.234754
G 14,962,963 6.75 073914C76 2.151187 5.582171 990.234754
H 16,510,861 6.75 PRIVATE 2.151186 5.582171 990.234754
X 515,964,267 0.44 073914C84 0.000000 0.365434 990.177942
PO 2,008,801 N/A PRIVATE 205.540021 0.000000 655.345187
,
R-1 100 6.75 PRIVATE 0.000000 0.000000 0.000000
R-2 100 6.75 PRIVATE 0.000000 8,909.580000 0.000000
R-3 102 6.75 PRIVATE 0.000000 0.000000 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 16,316,867 8.2182 488,252 110,760 599,012 0 987 16,241,721
BSMSI 9308 M 18,857,341 7.5000 24,327 117,858 142,185 0 0 18,833,014
CHASE 94E B-2 1,631,092 6.2500 8,631 8,454 17,085 0 0 1,614,461
CHEMPT 9601 B-3 2,348,651 7.2500 2,251 14,190 16,441 0 0 2,346,399
CITIMT 9016 B 5,225,935 9.5000 334,267 41,372 375,639 216 0 4,891,452
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 10,321,367 6.5000 15,489 55,907 71,396 0 0 10,305,878
CITIMT 9405 B-1 15,844,615 6.2500 24,601 82,524 107,125 0 0 15,820,014
CITIMT 9407 B-1 9,410,759 6.2500 12,520 49,014 61,535 0 0 9,398,238
CITIMT 9410 B-1 8,669,336 6.2500 10,535 45,153 55,688 0 0 8,658,800
CITIMT 9411 B-1 14,721,824 6.2500 17,951 76,676 94,627 0 0 14,703,873
CITIMT 9413 B-2 1,176,350 6.5000 1,484 6,372 7,856 0 0 1,174,866
CITIMT 9502 B-3 1,276,230 7.5000 1,460 7,976 9,437 0 0 1,274,770
CITIMT 9601 B-1 2,465,662 7.5000 2,072 15,077 17,149 0 333 2,463,590
CITIMT 9703 B-1 2,003,295 7.2500 1,597 12,103 13,700 0 0 2,001,698
CITIMT 9703 B-2 2,003,295 7.2500 1,596 12,103 13,700 0 0 2,001,698
CITIMT 9707 B-1 2,009,478 7.0000 1,585 11,722 13,307 0 0 2,007,893
CAPPTC 94C B-1 5,700,161 6.7500 8,397 32,063 40,460 0 0 5,691,764
CFC 9301 B-1 18,856,517 7.1250 24,502 111,961 136,463 0 0 18,832,014
CFC 9401 B-1 8,516,666 6.8750 11,010 48,793 59,804 0 0 8,505,656
CFC 9409 B-2 3,202,199 6.5000 3,974 17,345 21,319 0 0 3,198,225
CFC 9418 B-3 1,685,414 8.0000 1,780 11,236 13,016 0 0 1,683,635
CFC 9602 B-2 2,797,137 7.7500 2,374 18,065 20,439 0 0 2,794,763
CFC 9705 B-3 2,082,766 7.5000 1,530 13,017 14,547 0 0 2,081,236
FBCS 9302R 1 8,284,862 7.4250 40,339 51,263 91,601 0 0 8,244,523
CWD 94A B-3 1,887,153 6.7500 2,415 10,615 13,030 0 0 1,884,739
CWD 94C B-2 2,896,927 6.5000 3,521 15,692 19,213 0 0 2,893,406
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 4,372,340 6.5000 4,966 23,684 28,650 0 0 4,367,374
RAST 96A3 B-1-B 6,881,168 7.5000 12,351 42,926 55,277 0 81 6,868,817
RAST 96A4 B-2 5,009,619 7.5000 3,679 31,213 34,892 0 97 5,005,940
DLJ 9403 B-1 6,663,906 6.5000 8,351 36,096 44,448 0 0 6,655,554
GECAP 9401 B-2 7,528,127 6.5000 9,825 40,405 50,230 0 372 7,518,302
GECAP 9416 B-2 3,028,912 6.5000 3,896 16,312 20,208 0 95 3,025,016
GECAP 9427 B-2 2,214,585 6.5000 2,957 11,996 14,953 0 0 2,211,628
GECAP 9507 B-2 4,849,846 7.5000 4,477 30,312 34,789 0 0 4,845,369
GECAP 9615 B-1 3,087,214 7.7500 2,392 19,938 22,330 0 0 3,084,822
GECAP 9616 B-2 2,480,437 7.7500 1,843 16,019 17,862 0 0 2,478,594
GECAP 9701 B-1 3,703,003 7.5000 2,923 23,144 26,067 0 0 3,700,080
GECAP 9702 1-B-2 4,440,429 7.5000 3,482 27,753 31,235 0 0 4,436,947
GECAP 9709 1-B-1 4,730,093 7.2500 3,561 28,578 32,139 0 0 4,726,532
GECAP 9709 1-B-2 3,734,101 7.2500 2,811 22,560 25,371 0 0 3,731,289
GECAP 9709 2-B-2 2,612,950 7.0000 2,034 15,242 17,277 0 0 2,610,915
GECAP 9712 B-1 6,096,140 7.0000 4,607 35,561 40,168 0 0 6,091,532
GECAP 9712 B-2 4,812,741 7.0000 3,637 28,074 31,712 0 0 4,809,104
HMSI 9705 B-2 4,921,787 7.2500 3,935 29,736 33,671 0 0 4,917,851
MSCAPI 9601 B-2 2,300,753 7.2500 2,196 13,900 16,097 0 0 2,298,556
MORSRV 9602 B-1 1,987,946 7.2500 3,916 12,011 15,926 0 0 1,984,030
NSCOR 9604 B-1 4,707,387 7.7500 3,960 30,402 34,362 0 0 4,703,426
NSCOR 9605 B-1 4,496,748 8.0000 3,354 29,978 33,333 0 0 4,493,394
PWMAC 9307 M-3 1,840,371 7.5000 15,360 11,502 26,862 0 0 1,825,012
PWMAC 9402 M-2 3,278,126 6.5000 4,347 17,757 22,103 0 0 3,273,779
PWMAC 9402 M-3 2,413,846 6.5000 3,201 13,075 16,275 0 0 2,410,645
PNC 9502 B-3 2,624,283 7.5000 2,691 16,402 19,093 0 0 2,621,592
PNC 9702 B-2 1,751,776 7.5000 1,421 10,949 12,369 0 0 1,750,356
PNC 9705 B-2 2,607,918 7.2500 1,916 15,754 17,670 0 2 2,606,002
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 3,477,225 7.2500 2,555 21,005 23,560 0 3 3,474,670
PHMSC 93E 2-B 20,596,679 7.3942 164,660 126,885 291,545 0 29 20,432,019
PHMSC 93L 3-B-3 5,000,000 6.6412 0 27,672 27,672 0 0 5,000,000
PHMSC 94A 5-B 20,196,846 6.8032 16,129 114,503 130,632 0 0 20,180,717
PHMSC 94E 2-B 31,529,542 7.3399 8,907 192,855 201,763 0 (1) 31,520,635
PHMSC 95A 3-B 6,254,736 8.6840 6,163 46,811 52,974 0 (1,547) 6,248,572
RFC 93S10 M-2 1,826,805 8.5000 20,064 12,871 32,935 69 1,806,740
RFC 93S18 M-2 5,851,228 7.5000 168 35,945 36,112 0 626 5,851,060
RFC 93S18 M-3 3,525,250 7.5000 0 0 0 0 22,033 3,525,250
RFC 93S21 M-3 2,551,816 7.5000 2,926 15,571 18,498 0 377 2,548,890
RFC 93S22 M-2 4,081,534 7.0000 5,256 23,462 28,719 0 347 4,076,278
RFC 93S22 M-3 2,452,111 7.0000 3,158 34,970 38,128 0 (20,666) 2,448,953
RFC 93S24 M-3 3,565,120 7.0000 4,611 20,535 25,147 0 261 3,560,509
RFC 93S26 M-2 5,318,664 7.5000 6,652 32,916 39,568 0 326 5,312,012
RFC 93S26 M-3 3,621,770 7.5000 4,530 22,414 26,944 0 222 3,617,240
RFC 93S27 M-3 1,960,026 7.5000 2,327 12,109 14,435 0 142 1,957,699
RFC 93S28 M-2 3,029,204 7.0000 3,873 17,536 21,408 0 135 3,025,331
RFC 93S28 M-3 2,020,413 7.0000 2,583 11,696 14,279 0 90 2,017,830
RFC 93S34 M-3 2,017,478 7.0000 2,578 11,716 14,294 0 53 2,014,900
RFC 94S3 M-3 1,418,810 6.7269 1,790 7,936 9,725 0 18 1,417,020
RFC 95R20 M-3 3,173,988 7.5000 3,161 19,833 22,993 0 5 3,170,827
RFC 96S10 M-2 6,545,647 7.5000 5,760 40,810 46,571 0 99 6,539,887
RFC 96S14 M-2 3,588,090 7.5000 3,837 22,403 26,241 0 22 3,584,252
RFC 96S14 M-3 1,794,045 7.5000 1,919 11,201 13,120 0 11 1,792,126
RFC 96S16 M-2 4,460,052 7.7500 15,053 28,448 43,501 0 356 4,444,998
RFC 96S18 M-2 2,623,500 8.0000 1,925 17,278 19,203 0 212 2,621,575
RFC 96S23 M-2 3,129,053 7.7500 2,296 20,308 22,605 0 307 3,189,756
RFC 96S25 M-2 3,144,369 7.7500 2,370 20,284 22,654 0 24 3,141,999
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 4,448,742 7.2500 2,970 26,870 29,839 0 8 4,445,772
RYLPT 92A 1-B 1,500,000 8.2958 0 10,327 10,327 0 43 1,500,000
RYLPT 9304 B-2 5,103,008 7.5000 6,658 31,894 38,552 0 0 5,096,350
SBMSI 92D B-4 4,109,561 8.0143 14,432 26,796 41,228 0 650 4,095,130
SBMSI 9409 B-2 4,072,751 7.0000 4,788 23,758 28,545 0 0 4,067,963
SASI 9405 B-2 4,751,262 7.0000 5,769 27,716 33,485 0 0 4,745,493
SASI 9405 B-3 3,563,447 7.0000 4,327 20,787 25,114 0 0 3,559,120
SASI 9504 B-2 4,273,330 7.5000 3,831 26,708 30,539 0 0 4,269,500
SASI 93J 3-B 16,183,268 6.8080 4,585 91,814 96,399 0 0 16,178,683
SASCO 9601 B-1 3,141,411 7.2500 3,029 18,979 22,008 0 0 3,138,382
SASCO 9601 B-2 1,615,667 7.2500 1,558 9,761 11,319 0 0 1,614,109
SASCO 9602 B-2 2,440,353 7.0000 3,007 14,235 17,242 0 0 2,437,346
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