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):Julu 25, 1998
Structured Asset Mortgage Investments, Inc
Mortgage Pass-Through Certificates, Series 1998-3
(Exact name of registrant as specified in its charter)
Delaware 33-44658 13-3633241
(State or other juris- (Commission (IRS Employer
diction of incorporation) File Number) Identification No.)
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.)
Item 5. Other Events.
1.A distribution was made to the Certificateholders of the Structured Asset
Mortgage Investments, Inc. Mortgage Pass-Through Certificates, Series 1998-3, on
July 25, 1998. The distribution was made pursuant to the provisions of a Pooling
and Servicing Agreement dated February 25, 1998, between and among Structured
Asset Mortgage investments, Inc ., as Depositor, Countrywide Home Loans,Inc. as
Master Servicer, and The Bank of New York, as Trustee.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
28.5 July 25, 1998 - Information on Distribution to
Certificateholders
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 9, 1998 By: S\William J.Montgoris\
William J. Montgoris
Treasurer and Secretary
Structured Asset Mortgage Investments, Inc.
FORM 8-K
CURRENT REPORT
Exhibit Index
Exhibit No. Description
(28.5) July 25, 1998 - Information on
Distribution to Certificateholders
<TABLE>
July 25, 1998 - INFORMATION ON DISTRIBUTION EXHIBIT 28.5
TO CERTIFICATEHOLDERS
Structured Asset Mortgage Investments, Inc.
Mortgage Pass-Through Certificates, Series 1998-3
<CAPTION>
Principal Amt
Original Outstanding Ending
Certificat Principal Prior to Interest Interest Interest Principal Principal Amount
Class Amount Distribution Rate Accrued Distributed Payable Outstanding
<S> <C> <C> <C> <C> <C> <C> <C>
A $332,071,600 $203,887,205 6.873% $1,093,405 $1,093,405 $42,113,562 $161,773,643
R 100 0 6.873% 0 0 0 0
B-1 5,257,000 5,238,351 6.873% 28,092 28,092 3,993 5,234,358
B-2 13,142,815 13,096,193 6.873% 70,232 70,232 9,983 13,086,210
$350,471,515 $222,221,749 $1,191,729 $1,191,729 $42,127,538 $180,094,211
</TABLE>
