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): November 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 November 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.
(28.8) November 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: November 15, 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
(28.8) November 1, 1998 - Information on Distribution to
Certificateholders
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<TABLE>
November 1, 1998 - INFORMATION ON DISTRIBUTION EXHIBIT 28.8
TO CERTIFICATEHOLDERS
Structured Asset Mortgage Investments, Inc.
Mortgage Pass-Through Certificates, Series 1998-2
<CAPTION>
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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 58,119,965 6.75% 683,548 326,925 1,010,472 0 0 57,436,417 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 60,606,564 6.75% 203,639 340,912 544,551 0 0 60,402,925 0
C 45,327,598 6.75% 152,301 254,968 407,269 0 0 45,175,297 0
D 73,593,686 6.75% 247,276 413,964 661,241 0 0 73,346,410 0
E 42,526,455 6.75% 142,890 239,211 382,101 0 0 42,383,565 0
F 52,712,432 6.75% 177,115 296,507 473,622 0 0 52,535,317 0
G 14,769,666 6.75% 49,626 83,079 132,706 0 0 14,720,040 0
H 16,297,568 6.75% 54,760 91,674 146,434 0 0 16,242,808 29,334
X 509,269,647 0.49% N/A 148,901 148,901 N/A 0 507,558,492 N/A
PO 928,107 N/A 270,201 0.00 270,201 N/A 0 657,906 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 0 0 0.00 0 0 N/A
R-3 0 6.75% 0 0 0 0.00 0 0 N/A
Totals 509,269,648 1,981,357 3,013,543 4,994,900 0.00 0 507,558,492 29,334
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 11.464307 5.483109 963.310642
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 3.316613 5.552334 983.765052
C 45,920,819 6.75 073914C35 3.316613 5.552334 983.765052
D 74,556,836 6.75 073914C43 3.316613 5.552340 983.765052
E 43,083,016 6.75 073914C50 3.316613 5.552334 983.765052
F 53,402,301 6.75 073914C68 3.316613 5.552334 983.765052
G 14,962,963 6.75 073914C76 3.316613 5.552334 983.765052
H 16,510,861 6.75 PRIVATE 3.316613 5.552334 983.765053
X 515,964,267 0.35 073914C84 0.000000 0.288588 983.708610
PO 2,008,801 N/A PRIVATE 134.508806 0.000000 327.511727
,
R-1 100 6.75 PRIVATE 0.000000 0.000000 0.000000
R-2 100 6.75 PRIVATE 0.000000 0.000000 0.000000
R-3 102 6.75 073914F73 0.000000 0.000000 0.000000
Totals 514,776,541
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 15,650,907 8.2182 786,886 107,066 893,952 0 119 15,150,045
BSMSI 9308 M 18,752,046 7.5000 147,402 117,200 264,602 0 0 18,604,644
CHASE 94E B-2 1,605,674 6.2500 8,717 8,363 17,079 0 0 1,596,957
CHEMPT 9601 B-3 2,344,114 7.2500 2,314 14,162 16,477 0 0 2,341,800
CITIMT 9016 B 4,800,492 9.5000 124,386 38,004 162,390 0 0 4,676,106
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 10,290,266 6.5000 15,676 55,739 71,415 0 0 10,274,590
CITIMT 9405 B-1 15,795,264 6.2500 24,941 82,267 107,208 0 0 15,770,323
CITIMT 9407 B-1 9,385,601 6.2500 12,734 48,883 61,617 0 0 9,372,867
CITIMT 9410 B-1 8,648,187 6.2500 10,722 45,043 55,765 0 0 8,637,464
CITIMT 9411 B-1 14,685,577 6.2500 18,503 76,487 94,991 0 0 14,667,074
CITIMT 9413 B-2 1,173,372 6.5000 1,477 6,356 7,833 0 0 1,171,895
CITIMT 9502 B-3 1,273,291 7.5000 1,443 7,958 9,401 0 0 1,271,848
CITIMT 9601 B-1 2,461,518 7.5000 2,080 15,292 17,372 0 92 2,459,438
CITIMT 9703 B-1 2,000,100 7.2500 1,590 12,084 13,674 0 0 1,998,510
CITIMT 9703 B-2 2,000,100 7.2500 1,590 12,084 13,674 0 0 1,998,510
CITIMT 9707 B-1 2,006,294 7.0000 1,616 11,703 13,319 0 0 2,004,678
CAPPTC 94C B-1 5,683,295 6.7500 8,538 31,968 40,507 0 0 5,674,757
CFC 9301 B-1 18,807,362 7.1250 100,273 111,669 211,941 0 0 18,707,089
CFC 9401 B-1 8,494,592 6.8750 11,239 48,667 59,906 0 0 8,483,352
CFC 9409 B-2 3,194,199 6.5000 4,065 17,302 21,367 0 0 3,190,134
CFC 9418 B-3 1,681,797 8.0000 1,809 11,212 13,021 0 0 1,679,988
CFC 9602 B-2 2,792,301 7.7500 2,498 18,034 20,532 0 0 2,789,803
CFC 9705 B-3 2,079,687 7.5000 1,570 12,998 14,568 0 0 2,078,117
FBCS 9302R 1 8,204,141 7.4250 25,009 50,763 75,772 0 0 8,163,310
CWD 94A B-3 1,882,311 6.7500 2,441 10,588 13,029 0 0 1,879,869
CWD 94C B-2 2,889,853 6.5000 3,605 15,653 19,258 0 0 2,886,248
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 4,362,356 6.5000 5,069 23,629 28,698 0 0 4,357,287
RAST 96A3 B-1-B 6,860,841 7.5000 5,128 42,880 48,008 0 0 6,855,713
RAST 96A4 B-2 5,002,246 7.5000 3,731 31,124 34,855 0 140 4,998,514
DLJ 9403 B-1 6,644,511 6.5000 8,489 35,991 44,480 0 0 6,636,022
GECAP 9401 B-2 7,504,920 6.5000 15.682 40,510 56,192 0 142 7,489,238
GECAP 9416 B-2 3,021,098 6.5000 4,011 16,340 20,351 0 24 3,017,087
GECAP 9427 B-2 2,208,663 6.5000 2,995 11,963 14,958 0 0 2,205,668
GECAP 9507 B-2 4,840,858 7.5000 4,502 30,255 34,757 0 0 4,836,356
GECAP 9615 B-1 3,082,421 7.7500 2,432 19,907 22,339 0 0 3,079,989
GECAP 9616 B-2 2,471,213 7.7500 2,890 15,960 18,850 0 0 2,468,322
GECAP 9701 B-1 3,697,150 7.5000 2,966 23,107 26,073 0 0 3,694,184
GECAP 9702 1-B-2 4,433,330 7.5000 3,616 27,708 31,325 0 0 4,429,713
GECAP 9709 1-B-1 4,722,934 7.2500 3,560 28,534 32,094 0 0 4,719,375
GECAP 9709 1-B-2 3,728,450 7.2500 2,810 22,526 25,336 0 0 3,725,639
GECAP 9709 2-B-2 2,608,897 7.0000 2,068 15,219 17,286 0 0 2,606,829
GECAP 9712 B-1 6,086,822 7.0000 4,740 35,506 40,247 0 0 6,082,081
GECAP 9712 B-2 4,805,385 7.0000 3,742 28,031 31,774 0 0 4,801,642
HMSI 9705 B-2 4,913,873 7.2500 4,093 29,688 33,781 0 0 4,909,780
MSCAPI 9601 B-2 2,296,337 7.2500 2,268 13,874 16,142 0 0 2,294,069
MORSRV 9602 B-1 1,980,080 7.2500 3,982 11,963 15,945 0 0 1,976,097
NSCOR 9604 B-1 4,699,389 7.7500 4,108 30,350 34,458 0 0 4,695,281
NSCOR 9605 B-1 4,489,989 8.0000 3,409 29,835 33,244 0 99 4,486,579
PWMAC 9307 M-3 1,789,043 7.5000 21,532 11,182 32,714 0 0 1,767,511
PWMAC 9402 M-2 3,269,335 6.5000 4,433 17,708 22,142 0 0 3,264,901
PWMAC 9402 M-3 2,407,373 6.5000 3,265 13,040 16,305 0 0 2,404,108
PNC 9502 B-3 2,618,871 7.5000 2,747 16,368 19,114 0 0 2,616,124
PNC 9702 B-2 1,748,930 7.5000 1,437 10,931 12,369 0 0 1,747,493
PNC 9705 B-2 2,604,046 7.2500 1,955 15,733 17,688 0 0 2,602,091
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 3,472,062 7.2500 2,607 20,978 23,584 0 (1) 3,469,456
PHMSC 93E 2-B 20,183,982 7.3942 210,251 124,328 334,579 0 44 19,973,731
PHMSC 93L 3-B-3 5,000,000 6.6412 0 27,672 27,672 0 0 5,000,000
PHMSC 94A 5-B 20,154,760 6.8032 12,789 114,265 127,054 0 (1) 20,141,971
PHMSC 94E 2-B 31,511,634 7.3399 9,111 192,748 201,859 0 (4) 31,502,523
PHMSC 95A 3-B 6,242,904 8.6840 13,850 46,722 60,572 0 (1,544) 6,229,054
RFC 93S10 M-2 1,804,922 8.5000 7,555 12,173 19,728 0 612 1,797,367
RFC 93S18 M-2 5,830,461 7.5000 7,383 35,560 42,943 0 880 5,823,078
RFC 93S18 M-3 3,525,250 7.5000 4,464 21,652 26,116 0 381 3,520,786
RFC 93S21 M-3 2,520,495 7.5000 10,023 15,387 25,410 0 366 2,510,472
RFC 93S22 M-2 4,066,287 7.0000 0 0 0 0 23,720 4,066,287
RFC 93S22 M-3 2,448,214 7.0000 0 0 0 0 14,281 2,448,214
RFC 93S24 M-3 3,555,813 7.0000 7,914 20,587 28,501 0 155 3,547,899
RFC 93S26 M-2 5,305,443 7.5000 16,475 32,582 49,057 0 577 5,288,968
RFC 93S26 M-3 3,612,767 7.5000 11,219 22,187 33,406 0 393 3,601,548
RFC 93S27 M-3 1,955,392 7.5000 2,343 12,059 14,402 0 162 1,953,049
RFC 93S28 M-2 3,021,505 7.0000 19,632 17,518 37,149 0 108 3,001,873
RFC 93S28 M-3 2,015,278 7.0000 13,094 11,684 24,778 0 72 2,002,184
RFC 93S34 M-3 2,012,295 7.0000 22,238 11,575 33,813 0 163 1,990,057
RFC 94S3 M-3 1,415,227 6.7269 1,815 7,872 9,687 0 61 1,413,411
RFC 95R20 M-3 3,167,584 7.5000 3,228 19,769 22,997 0 29 3,164,356
RFC 96S10 M-2 6,534,097 7.5000 5,821 40,643 46,464 0 195 6,528,276
RFC 96S14 M-2 3,577,357 7.5000 3,980 22,339 26,319 0 20 3,573,376
RFC 96S14 M-3 1,788,678 7.5000 1,990 11,169 13,159 0 9 1,786,688
RFC 96S16 M-2 4,441,672 7.7500 10,551 28,032 38,583 0 653 4,431,121
RFC 96S18 M-2 2,619,580 8.0000 1,954 16,964 18,917 0 500 2,617,626
RFC 96S23 M-2 3,182,636 7.7500 3,810 20,542 24,352 0 12 3,178,827
RFC 96S25 M-2 3,139,594 7.7500 8,133 20,015 28,148 0 262 3,131,461
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 4,442,758 7.2500 3,708 26,826 30,534 0 16 4,439,049
RYLPT 92A 1-B 1,500,000 8.2958 0 10,323 10,323 0 47 1,500,000
RYLPT 9304 B-2 5,057,580 7.5000 47,151 31,610 78,761 0 0 5,010,428
SBMSI 92D B-4 4,082,488 8.0143 8,353 26,615 34,968 0 650 4,074,136
SBMSI 9409 B-2 4,063,105 7.0000 4,970 23,701 28,671 0 0 4,058,135
SASI 9405 B-2 4,739,731 7.0000 5,895 27,648 33,544 0 0 4,733,835
SASI 9405 B-3 3,554,798 7.0000 4,422 20,736 25,158 0 0 3,550,377
SASI 9504 B-2 4,265,597 7.5000 3,973 26,659 30,633 0 0 4,261,624
SASI 93J 3-B 16,167,751 6.8080 28,560 91,726 120,286 0 0 16,139,191
SASCO 9601 B-1 3,135,338 7.2500 3,053 18,943 21,995 0 0 3,132,285
SASCO 9601 B-2 1,612,543 7.2500 1,570 9,742 11,312 0 0 1,610,973
SASCO 9602 B-2 2,434,318 7.0000 2,684 14,200 16,884 0 0 2,431,634
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