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): July 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 July 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.
(28.4) July 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: July 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
(28.4) July 1, 1998 - Information on Distribution to
Certificateholders
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<TABLE>
July 1, 1998 - INFORMATION ON DISTRIBUTION EXHIBIT 28.4
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 205,372,943 6.75% 429,799 1,155,223 1,585,022 0 0 204,943,144 0
B 61,183,705 6.75% 128,043 344,158 472,202 0 0 61,055,662 0
C 45,759,242 6.75% 95,763 257,396 353,159 0 0 45,663,478 0
D 74,294,499 6.75% 155,482 417,907 573,388 0 0 74,139,018 0
E 42,931,424 6.75% 89,846 241,489 331,335 0 0 42,841,578 0
F 53,214,399 6.75% 111,366 299,331 410,697 0 0 53,103,033 0
G 14,910,314 6.75% 31,204 83,871 115,074 0 0 14,879,110 0
H 16,452,766 6.75% 34,432 92,547 126,979 0 0 16,418,334 0
X 514,119,292 0.51% N/A 221,504 221,504 N/A 0 513,043,357 N/A
PO 1,936,928 N/A 16,693 0.00 16,693 N/A 0 1,920,235 N/A
Residual R-1 0 6.75% 0 0.00 0.00 0.00 0 0 N/A
R-2 0 6.75% 0 565 565 0.00 0 0 N/A
Totals 514,119,292 1,092,628 3,113,991 4,206,619 0.00 0 513,043,357 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 206,127,524 6.75 073914B93 2.085112 5.604408 994.254139
B 61,399,747 6.75 073914C27 2.085409 5.605208 994.395980
C 45,920,819 6.75 073914C35 2.085409 5.605208 994.395980
D 74,556,836 6.75 073914C43 2.085409 5.605208 994.395980
E 43,083,016 6.75 073914C50 2.085409 5.605208 994.395981
F 53,402,301 6.75 073914C68 2.085409 5.605208 994.395981
G 14,962,963 6.75 073914C76 2.085409 5.605208 994.395981
H 16,510,861 6.75 PRIVATE 2.085409 5.605208 994.395980
X 515,964,267 0.51 073914C84 0.000000 0.429302 994.338929
PO 2,008,801 N/A PRIVATE 8.309842 0.000000 955.911136
,
R-1 100 6.75 PRIVATE 0.000000 0.000000 0.000000
R-2 100 6.75 PRIVATE 0.000000 5,654.060000 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 16,757,419 8.2182 162,294 113,856 276,150 0 907 16,611,875
BSMSI 9308 M 18,905,495 7.5000 23,972 118,159 142,132 0 0 18,881,523
CHASE 94E B-2 1,640,297 6.2500 8,598 8,543 17,141 0 0 1,631,699
CHEMPT 9601 B-3 2,353,077 7.2500 2,196 14,217 16,413 0 0 2,350,881
CITIMT 9016 B 5,673,664 9.5000 301,356 44,917 346,272 58 0 5,372,251
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 0 113,869 113,869 0 (56,935) 9,109,558
CITIMT 9401 B-1 10,351,957 6.5000 15,231 56,073 71,304 0 0 10,336,726
CITIMT 9405 B-1 15,893,387 6.2500 24,327 82,778 107,105 0 0 15,869,060
CITIMT 9407 B-1 9,435,627 6.2500 12,384 49,144 61,528 0 0 9,423,243
CITIMT 9410 B-1 8,690,352 6.2500 10,585 45,262 55,847 0 0 8,679,767
CITIMT 9411 B-1 14,757,116 6.2500 17,538 76,860 94,398 0 0 14,739,578
CITIMT 9413 B-2 1,179,222 6.5000 1,423 6,387 7,810 0 0 1,177,799
CITIMT 9502 B-3 1,279,102 7.5000 1,428 7,994 9,422 0 0 1,277,674
CITIMT 9601 B-1 2,469,738 7.5000 2,029 15,414 17,444 0 22 2,467,708
CITIMT 9703 B-1 2,006,391 7.2500 1,539 12,105 13,644 0 17 2,004,852
CITIMT 9703 B-2 2,006,391 7.2500 1,539 12,105 13,644 0 17 2,004,852
CITIMT 9707 B-1 2,012,608 7.0000 1,558 11,740 13,298 0 0 2,011,050
CAPPTC 94C B-1 5,716,773 6.7500 8,275 32,157 40,432 0 0 5,708,497
CFC 9301 B-1 18,905,185 7.1250 24,252 112,250 136,501 0 0 18,880,933
CFC 9401 B-1 8,538,453 6.8750 10,851 48,918 59,769 0 0 8,527,602
CFC 9409 B-2 3,210,091 6.5000 3,914 17,388 21,302 0 0 3,206,177
CFC 9418 B-3 1,691,278 8.0000 1,793 11,275 13,068 0 0 1,689,485
CFC 9602 B-2 2,801,843 7.7500 2,341 18,095 20,436 0 0 2,799,502
CFC 9705 B-3 2,085,803 7.5000 1,520 13,036 14,556 0 0 2,084,283
FBCS 9302R 1 8,365,069 7.4250 40,035 51,759 91,794 0 0 8,325,034
CWD 94A B-3 1,891,946 6.7500 2,400 10,642 13,042 0 0 1,889,546
CWD 94C B-2 2,903,876 6.5000 3,467 15,729 19,196 0 0 2,900,409
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 4,386,025 6.5000 8,758 23,758 32,516 0 0 4,377,267
RAST 96A3 B-1-B 6,892,816 7.5000 6,715 42,952 49,667 0 128 6,886,100
RAST 96A4 B-2 5,016,767 7.5000 3,605 31,238 34,843 0 117 5,013,162
DLJ 9403 B-1 6,677,599 6.5000 5,421 36,170 41,591 0 0 6,672,178
GECAP 9401 B-2 7,547,583 6.5000 9,694 40,649 50,343 0 234 7,537,889
GECAP 9416 B-2 3,036,630 6.5000 3,862 16,401 20,263 0 47 3,032,768
GECAP 9427 B-2 2,220,406 6.5000 2,908 12,027 14,935 0 0 2,217,498
GECAP 9507 B-2 4,858,607 7.5000 17,078 30,366 47,444 0 0 4,841,530
GECAP 9615 B-1 3,092,026 7.7500 2,394 19,969 22,363 0 0 3,089,632
GECAP 9616 B-2 2,484,024 7.7500 1,807 16,043 17,849 0 0 2,482,217
GECAP 9701 B-1 3,708,789 7.5000 2,869 23,180 26,049 0 0 3,705,920
GECAP 9702 1-B-2 4,451,417 7.5000 7,505 27,821 35,327 0 0 4,443,912
GECAP 9709 1-B-1 4,737,160 7.2500 3,520 28,620 32,140 0 0 4,733,640
GECAP 9709 1-B-2 3,739,680 7.2500 2,779 22,594 25,373 0 0 3,736,901
GECAP 9709 2-B-2 2,616,998 7.0000 2,031 15,266 17,297 0 0 2,614,967
GECAP 9712 B-1 6,105,318 7.0000 4,604 35,614 40,218 0 0 6,100,714
GECAP 9712 B-2 4,819,987 7.0000 3,634 28,117 31,751 0 0 4,816,353
HMSI 9705 B-2 4,929,492 7.2500 3,835 29,782 33,618 0 0 4,925,657
MSCAPI 9601 B-2 2,305,079 7.2500 2,149 13,927 16,076 0 0 2,302,930
MORSRV 9602 B-1 1,995,760 7.2500 3,889 24,139 28,028 0 (12,081) 1,991,871
NSCOR 9604 B-1 4,715,082 7.7500 3,833 30,452 34,285 0 0 4,711,249
NSCOR 9605 B-1 4,503,434 8.0000 3,335 30,023 33,358 0 0 4,500,099
PWMAC 9307 M-3 1,853,245 7.5000 2,479 11,583 14,061 0 0 1,850,767
PWMAC 9402 M-2 3,286,754 6.5000 4,307 17,803 22,110 0 0 3,282,447
PWMAC 9402 M-3 2,420,199 6.5000 3,171 13,109 16,281 0 0 2,417,028
PNC 9502 B-3 2,629,597 7.5000 2,661 16,435 19,096 0 0 2,626,937
PNC 9702 B-2 1,754,579 7.5000 1,392 10,966 12,358 0 0 1,753,186
PNC 9705 B-2 2,611,706 7.2500 1,895 15,779 17,674 0 0 2,609,811
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 3,482,275 7.250 2,526 21,039 23,565 0 0 3,479,749
PHMSC 93E 2-B 20,841,304 7.394 157,654 127,959 285,613 0 462 20,683,650
PHMSC 93L 3-B-3 5,000,000 6.641 0 27,672 27,672 0 0 5,000,000
PHMSC 94A 5-B 20,229,764 6.803 13,605 114,689 128,294 0 0 20,216,159
PHMSC 94E 2-B 31,547,234 7.339 8,741 192,965 201,706 0 (2) 31,538,493
PHMSC 95A 3-B 6,266,814 8.684 5,982 46,901 52,883 0 (1,550) 6,260,832
RFC 93S10 M-2 1,830,338 8.500 1,757 12,733 14,490 232 1,828,581
RFC 93S18 M-2 5,859,307 7.500 933 35,885 36,818 0 735 5,858,374
RFC 93S18 M-3 3,529,555 7.500 0 0 0 0 22,060 3,529,555
RFC 93S21 M-3 2,563,687 7.500 2,873 15,659 18,532 0 364 2,560,815
RFC 93S22 M-2 4,086,835 7.000 0 0 0 0 23,840 4,086,835
RFC 93S22 M-3 2,452,111 7.000 0 0 0 0 14,304 2,452,111
RFC 93S24 M-3 3,574,238 7.000 4,560 20,756 25,316 0 94 3,569,678
RFC 93S26 M-2 5,331,837 7.500 6,555 51,162 57,717 0 (17,838) 5,325,282
RFC 93S26 M-3 3,626,276 7.500 0 41,559 41,559 0 (18,895) 3,626,276
RFC 93S27 M-3 1,962,322 7.500 0 7,482 7,482 0 4,782 1,962,322
RFC 93S28 M-2 3,036,863 7.000 3,814 17,596 21,410 0 119 3,033,049
RFC 93S28 M-3 2,025,521 7.000 2,544 11,736 14,280 0 80 2,022,978
RFC 93S34 M-3 2,022,559 7.000 2,541 11,720 14,261 0 79 2,020,019
RFC 94S3 M-3 1,422,321 6.738 1,743 7,904 9,648 0 81 1,420,577
RFC 95R20 M-3 3,180,220 7.500 3,107 19,871 22,978 0 6 3,177,113
RFC 96S10 M-2 6,557,009 7.500 5,639 40,928 46,567 0 53 6,551,370
RFC 96S14 M-2 3,595,613 7.500 3,739 22,457 26,197 0 15 3,591,874
RFC 96S14 M-3 1,797,806 7.500 1,870 11,229 13,098 0 8 1,795,937
RFC 96S16 M-2 4,471,630 7.750 3,332 28,842 32,173 0 38 4,468,299
RFC 96S18 M-2 2,628,559 8.000 3,158 17,321 20,479 0 203 2,625,400
RFC 96S23 M-2 3,204,729 7.750 2,315 20,431 22,745 0 267 3,202,414
RFC 96S25 M-2 3,152,052 7.750 5,345 20,093 25,438 0 264 3,146,707
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 4,454,629 7.25 2,927 26,907 29,834 0 6 4,451,702
RYLPT 92A 1-B 1,500,000 8.23 0 10,329 10,329 0 0 1,500,000
RYLPT 9304 B-2 5,116,127 7.50 6,527 31,976 38,503 0 0 5,109,600
SBMSI 92D B-4 4,122,975 8.01 8,663 26,639 35,303 0 897 4,114,312
SBMSI 9409 B-2 4,082,067 7.00 4,673 23,812 28,485 0 0 4,077,394
SASI 9405 B-2 4,762,643 7.00 5,671 27,782 33,453 0 0 4,756,972
SASI 9405 B-3 3,571,982 7.00 4,253 20,837 25,089 0 0 3,567,729
SASI 9504 B-2 4,281,045 7.50 3,856 26,757 30,613 0 0 4,277,188
SASI 93J 3-B 16,191,666 6.80 3,680 91,861 95,541 0 0 16,187,987
SASCO 9601 B-1 3,147,354 7.25 2,963 38,048 41,011 0 (19,033) 3,144,391
SASCO 9601 B-2 1,618,723 7.25 1,524 19,569 21,092 0 (9,789) 1,617,199
SASCO 9602 B-2 2,446,322 7.00 2,960 14,270 17,230 0 0 2,443,362
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