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): May 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
May 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.
(28.1) May 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: 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
(28.1) May 25, 1998 - Information on Distribution to
Certificateholders
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<TABLE>
May 25, 1998 - INFORMATION ON DISTRIBUTION EXHIBIT 28.1
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 14,325,000 6.51% 403,068 77,758 480,826 13,921,932
A-2 71,625,700 6.51% 1,928,363 388,796 2,317,159 69,697,337
A-3 42,382,750 6.51% 1,389,262 230,061 1,619,323 40,993,488
A-4 9,865,250 6.51% 0.00 53,550 53,550 9,865,250
B-1 699,700 6.51% 4,127 3,798 7,925 695,573
B-2 349,900 6.51% 2,064 1,899 3,963 347,836
B-3 279,900 6.51% 1,651 1,519 3,170 278,249
B-4 140,000 6.51% 826 760 1,586 139,174
B-5 139,900 6.51% 825 759 1,584 139,074
B-6 140,000 6.51% 826 760 1,586 139,174
R-1 50 6.51% 50 0.00 50 0.00
R-11 25 6.51% 25 0.00 25 0.00
R-111 25 6.51% 25 0.00 25 0.00
139,948,200 3,731,112 759,660 4,490,772 136,217,087
</TABLE>
