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): June 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 June 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.
(28.3) June 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: June 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
(28.3) June 1, 1998 - Information on Distribution to
Certificateholders
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<TABLE>
June 1, 1998 - INFORMATION ON DISTRIBUTION EXHIBIT 28.3
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 205,633,438 6.71% 252,008 1,150,670 1,402,678 0 0 205,381,430 0
B 61,256,962 6.71% 70,729 342,778 413,507 0 0 61,186,233 0
C 45,814,030 6.71% 52,898 256,363 309,261 0 0 45,761,132 0
D 74,383,454 6.71% 85,885 416,230 502,115 0 0 74,297,570 0
E 42,982,827 6.71% 49,629 240,521 290,150 0 0 42,933,198 0
F 53,278,114 6.71% 61,516 298,130 359,646 0 0 53,216,598 0
G 14,928,167 6.71% 17,236 83,534 100,770 0 0 14,910,930 0
H 16,472,465 6.71% 4,441 92,176 96,617 14,579 0 16,453,445 14,579
X 514,749,457 0.00% N/A 0.00 0.00 N/A 0 514,140,536 N/A
PO 1,936,928 N/A 0.00 0.00 0.00 N/A 0 1,936,928 N/A
Residual R-1 0 6.71% 0 0.00 0.00 0.00 0 0 N/A
R-2 0 6.71% 0 776 776 0.00 0 0 N/A
Totals 514,749,457 594,342 2,881,178 3,475,520 14,579 0 514,140,536 14,579
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 6.71 073914B93 1.222583 5.582322 996.380423
B 61,399,747 6.71 073914C27 1.151940 5.582722 996.522566
C 45,920,819 6.71 073914C35 1.151940 5.582722 996.522566
D 74,556,836 6.71 073914C43 1.151940 5.582722 996.522566
E 43,083,016 6.71 073914C50 1.151940 5.582722 996.522566
F 53,402,301 6.71 073914C68 1.151940 5.582722 996.522566
G 14,962,963 6.71 073914C76 1.151940 5.582722 996.522566
H 16,510,861 6.71 PRIVATE 0.268972 5.582722 996.522565
X 515,964,267 0.00 073914C84 0.000000 0.000000 996.465394
PO 2,008,801 N/A PRIVATE 0.000000 0.000000 964.220978
,
R-1 100 6.71 PRIVATE 0.000000 0.000000 0.000000
R-2 100 6.71 PRIVATE 0.000000 7,762.420000 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 16,909,039 8.2182 137,042 113,746 250,788 0 2,056 16,757,419
BSMSI 9308 M 18,929,226 7.5000 23,730 118,308 142,038 0 0 18,905,495
CHASE 94E B-2 1,648,884 6.2500 8,587 8,587 17,175 0 0 1,640,297
CHEMPT 9601 B-3 2,355,237 7.2500 2,160 14,230 16,390 0 0 2,353,077
CITIMT 9016 B 5,673,664 9.5000 0 44,917 44,917 0 0 5,673,664
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 10,368,049 6.5000 16,092 56,160 72,252 0 0 10,351,957
CITIMT 9405 B-1 15,917,548 6.2500 24,161 82,904 107,065 0 0 15,893,387
CITIMT 9407 B-1 9,447,899 6.2500 12,273 49,208 61,481 0 0 9,435,627
CITIMT 9410 B-1 8,700,686 6.2500 10,334 45,316 55,650 0 0 8,690,352
CITIMT 9411 B-1 14,774,341 6.2500 17,225 79,950 94,175 0 0 14,757,116
CITIMT 9413 B-2 1,180,755 6.5000 1,533 6,396 7,929 0 0 1,179,222
CITIMT 9502 B-3 1,280,504 7.5000 1,402 8,003 9,406 0 0 1,279,102
CITIMT 9601 B-1 2,471,741 7.5000 2,004 15,009 17,013 0 439 2,469,738
CITIMT 9703 B-1 2,007,910 7.2500 1,519 11,973 13,492 0 158 2,006,391
CITIMT 9703 B-2 2,007,910 7.2500 1,519 11,973 13,492 0 158 2,006,391
CITIMT 9707 B-1 2,014,150 7.0000 1,542 11,749 13,292 0 0 2,012,608
CAPPTC 94C B-1 5,724,660 6.7500 7,888 32,201 40,089 0 0 5,716,773
CFC 9301 B-1 18,929,103 7.1250 23,919 112,392 136,310 0 0 18,905,185
CFC 9401 B-1 8,549,222 6.8750 10,769 48,980 59,749 0 0 8,538,453
CFC 9409 B-2 3,213,985 6.5000 3,894 17,409 21,303 0 0 3,210,091
CFC 9418 B-3 1,693,048 8.0000 1,770 11,287 13,057 0 0 1,691,278
CFC 9602 B-2 2,804,119 7.7500 2,275 18,110 20,386 0 0 2,801,843
CFC 9705 B-3 2,087,289 7.5000 1,486 13,046 14,532 0 0 2,085,803
FBCS 9302R 1 8,405,093 7.4250 40,024 52,007 92,031 0 0 8,365,069
CWD 94A B-3 1,894,306 6.7500 2,360 10,655 13,015 0 0 1,891,946
CWD 94C B-2 2,907,284 6.5000 3,408 15,748 19,156 0 0 2,903,876
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 4,390,873 6.5000 4,849 23,784 26,633 0 0 4,386,025
RAST 96A3 B-1-B 6,897,600 7.5000 4,784 42,787 47,572 0 323 6,892,816
RAST 96A4 B-2 5,020,285 7.5000 3,518 31,158 34,677 0 218 5,016,767
DLJ 9403 B-1 6,684,911 6.5000 7,313 36,209 43,522 0 0 6,677,599
GECAP 9401 B-2 7,559,727 6.5000 12,144 40,576 52,721 0 372 7,547,583
GECAP 9416 B-2 3,040,448 6.5000 3,817 16,373 20,190 0 97 3,036,630
GECAP 9427 B-2 2,223,301 6.5000 2,896 12,043 14,939 0 0 2,220,406
GECAP 9507 B-2 4,862,921 7.5000 4,314 30,393 34,707 0 0 4,858,607
GECAP 9615 B-1 3,094,366 7.7500 2,341 19,984 22,325 0 0 3,092,026
GECAP 9616 B-2 2,485,775 7.7500 1,751 16,054 17,805 0 0 2,484,024
GECAP 9701 B-1 3,711,577 7.5000 2,788 23,197 25,985 0 0 3,708,789
GECAP 9702 1-B-2 4,454,834 7.5000 3,417 27,843 31,259 0 0 4,451,417
GECAP 9709 1-B-1 4,740,678 7.2500 3,518 28,642 32,160 0 0 4,737,160
GECAP 9709 1-B-2 3,742,457 7.2500 2,777 22,611 25,388 0 0 3,739,680
GECAP 9709 2-B-2 2,618,981 7.0000 1,982 15,277 17,259 0 (0) 2,616,998
GECAP 9712 B-1 6,109,845 7.0000 4,527 35,641 40,168 0 0 6,105,318
GECAP 9712 B-2 4,823,561 7.0000 3,574 28,137 31,711 0 0 4,819,987
HMSI 9705 B-2 4,933,253 7.2500 3,761 29,805 33,566 0 0 4,929,492
MSCAPI 9601 B-2 2,307,183 7.2500 2,104 13,939 16,044 0 0 2,305,079
MORSRV 9602 B-1 1,999,613 7.2500 3,853 12,081 15,934 0 0 1,995,760
NSCOR 9604 B-1 4,718,820 7.7500 3,739 30,476 34,214 0 0 4,715,082
NSCOR 9605 B-1 4,506,665 8.0000 3,231 30,044 33,280 0 0 4,503,434
PWMAC 9307 M-3 1,855,698 7.5000 2,453 11,598 14,051 0 0 1,853,245
PWMAC 9402 M-2 3,291,020 6.5000 4,266 17,826 22,093 0 0 3,286,754
PWMAC 9402 M-3 2,423,340 6.5000 3,141 13,126 16,268 0 0 2,420,199
PNC 9502 B-3 2,632,237 7.5000 2,640 16,451 19,091 0 0 2,629,597
PNC 9702 B-2 1,755,957 7.5000 1,378 10,975 12,353 0 0 1,754,579
PNC 9705 B-2 2,613,574 7.2500 1,868 15,790 17,658 0 1 2,611,706
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 3,484,766 7.250 2,491 21,053 23,544 0 1 3,482,275
PHMSC 93E 2-B 20,850,883 7.394 9,579 128,481 138,059 0 0 20,841,304
PHMSC 93L 3-B-3 5,000,000 6.641 0 27,672 27,672 0 0 5,000,000
PHMSC 94A 5-B 20,239,177 6.803 9,413 114,742 124,155 0 1 20,229,764
PHMSC 94E 2-B 31,555,747 7.339 8,513 193,016 201,529 0 (1) 31,547,234
PHMSC 95A 3-B 6,272,691 8.684 5,877 46,945 52,822 0 (1551) 6,266,814
RFC 93S10 M-2 1,832,103 8.500 1,766 12,874 14,640 103 1,830,338
RFC 93S18 M-2 5,866,363 7.500 7,056 35,865 42,921 0 800 5,859,307
RFC 93S18 M-3 3,533,806 7.500 4,251 21,605 25,855 0 482 3,529,555
RFC 93S21 M-3 2,566,559 7.500 2,872 15,769 18,641 0 272 2,563,687
RFC 93S22 M-2 4,092,023 7.000 5,188 23,654 28,842 0 216 4,086,835
RFC 93S22 M-3 2,455,223 7.000 3,113 14,192 17,305 0 130 2,452,111
RFC 93S24 M-3 3,578,771 7.000 4,533 20,687 25,220 0 190 3,574,238
RFC 93S26 M-2 5,331,837 7.500 0 47,122 47,122 0 (13,798) 5,331,837
RFC 93S26 M-3 3,626,276 7.500 0 0 0 0 22,664 3,626,276
RFC 93S27 M-3 1,964,495 7.500 2,173 11,820 13,992 0 458 1,964,322
RFC 93S28 M-2 3,040,691 7.000 3,828 17,655 21,483 0 82 3,036,863
RFC 93S28 M-3 2,028,074 7.000 2,553 11,775 14,329 0 55 2,025,521
RFC 93S34 M-3 2,025,068 7.000 2,509 11,762 14,271 0 51 2,022,559
RFC 94S3 M-3 1,424,052 6.738 1,731 7,927 9,658 0 68 1,422,321
RFC 95R20 M-3 3,183,281 7.500 3,062 19,889 22,951 0 6 3,180,220
RFC 96S10 M-2 6,562,608 7.500 5,598 41,000 46,599 0 16 6,557,009
RFC 96S14 M-2 3,599,221 7.500 3,608 22,408 26,016 0 87 3,595,613
RFC 96S14 M-3 1,799,610 7.500 1,804 11,204 13,008 0 43 1,797,806
RFC 96S16 M-2 4,474,795 7.750 3,164 28,286 31,450 0 614 4,471,630
RFC 96S18 M-2 2,630,455 8.000 1,897 17,235 19,132 0 301 2,628,559
RFC 96S23 M-2 3,206,960 7.750 2,231 20,104 22,335 0 607 3,204,729
RFC 96S25 M-2 3,154,319 7.750 2,267 20,176 22,444 0 195 3,152,052
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 4,457,520 7.25 2,891 26,924 29,815 0 7 4,454,629
RYLPT 92A 1-B 1,500,000 8.23 0 10,294 10,294 0 0 1,500,000
RYLPT 9304 B-2 5,122,597 7.50 6,470 32,016 38,486 0 0 5,116,127
SBMSI 92D B-4 4,137,044 8.01 14,069 26,658 40,726 0 974 4,122,975
SBMSI 9409 B-2 4,086,580 7.00 4,513 23,838 28,352 0 0 4,082,067
SASI 9405 B-2 4,768,263 7.00 5,620 27,815 33,435 0 0 4,762,643
SASI 9405 B-3 3,576,198 7.00 4,215 20,861 25,076 0 0 3,571,982
SASI 9504 B-2 4,284,882 7.50 3,838 26,781 30,618 0 0 4,281,045
SASI 93J 3-B 16,195,493 6.80 3,826 91,883 95,709 0 0 16,191,666
SASCO 9601 B-1 3,150,280 7.25 2,926 19,033 21,959 0 0 3,147,354
SASCO 9601 B-2 1,620,228 7.25 1,505 9,789 11,294 0 0 1,618,723
SASCO 9602 B-2 2,449,300 7.00 2,977 14,288 17,265 0 0 2,446,322
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