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): September 25, 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 October 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.
(28.7) October 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: October 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
(28.7) October 1, 1998 - Information on Distribution to
Certificateholders
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<TABLE>
October 1, 1998 - INFORMATION ON DISTRIBUTION EXHIBIT 28.7
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-1 58,769,811 6.75% 649,846 330,580 980,426 0 0 58,119,965 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 60,800,163 6.75% 193,599 342,001 535,600 0 0 60,606,564 0
C 45,472,391 6.75% 144,792 255,782 400,575 0 0 45,327,598 0
D 73,828,770 6.75% 235,084 415,287 650,371 0 0 73,593,686 0
E 42,662,300 6.75% 135,845 239,975 375,820 0 0 42,526,455 0
F 52,880,814 6.75% 168,382 297,454 465,837 0 0 52,712,432 0
G 14,816,846 6.75% 47,179 83,345 130,524 0 0 14,769,666 0
H 16,349,628 6.75% 52,060 91,967 144,027 0 0 16,297,568 29,334
X 510,896,436 0.49% N/A 208,154 208,154 N/A 0 509,269,647 N/A
PO 1,316,458 N/A 388,351 0.00 388,351 N/A 0 928,107 N/A
Residual R-1 0 6.75% 0 0.00 0.00 0.00 0 0 N/A
R-2 0 6.75% 0 687 687 0.00 0 0 N/A
R-3 0 6.75% 0 0 0 0.00 0 0 N/A
Totals 510,896,436 2,105,139 3,082,633 5,097,772 0.00 0 509,269,647 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 10.899069 5.544416 974.774950
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 3.153090 5.570070 987.081665
C 45,920,819 6.75 073914C35 3.153090 5.570070 987.081664
D 74,556,836 6.75 073914C43 3.153090 5.570070 987.081664
E 43,083,016 6.75 073914C50 3.153090 5.570070 987.081665
F 53,402,301 6.75 073914C68 3.153090 5.570070 987.081664
G 14,962,963 6.75 073914C76 3.153090 5.570070 987.081664
H 16,510,861 6.75 PRIVATE 3.153089 5.570070 987.051666
X 515,964,267 0.48 073914C84 0.000000 0.403426 987.025033
PO 2,008,801 N/A PRIVATE 193.324654 0.000000 462.020533
,
R-1 100 6.75 PRIVATE 0.000000 0.000000 0.000000
R-2 100 6.75 PRIVATE 0.000000 6,873.480000 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 16,241,721 8.2182 979,117 109,949 1,089,066 0 1,282 15,650,907
BSMSI 9308 M 18,833,014 7.5000 80,968 117,706 198,674 0 0 18,752,046
CHASE 94E B-2 1,614,460 6.2500 8,787 8,409 17,195 0 0 1,605,674
CHEMPT 9601 B-3 2,346,399 7.2500 2,285 14,178 16,463 0 (2) 2,344,114
CITIMT 9016 B 4,891,452 9.5000 90,960 38,724 129,684 216 0 4,800,492
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 10,305,878 6.5000 15,612 55,823 71,435 0 0 10,290,266
CITIMT 9405 B-1 15,820,014 6.2500 24,750 82,396 107,146 0 0 15,795,264
CITIMT 9407 B-1 9,398,238 6.2500 12,637 48,949 61,586 0 0 9,385,601
CITIMT 9410 B-1 8,658,800 6.2500 10,613 45,098 55,711 0 0 8,648,187
CITIMT 9411 B-1 14,703,873 6.2500 18,296 76,583 94,878 0 0 14,685,577
CITIMT 9413 B-2 1,174,866 6.5000 1,493 6,364 7,857 0 0 1,173,372
CITIMT 9502 B-3 1,274,770 7.5000 1,479 7,967 9,446 0 0 1,273,291
CITIMT 9601 B-1 2,463,590 7.5000 2,072 15,099 17,171 0 299 2,461,517
CITIMT 9703 B-1 2,001,698 7.2500 1,597 12,094 13,691 0 0 2,000,100
CITIMT 9703 B-2 2,001,698 7.2500 1,597 12,094 13,691 0 0 2,000,100
CITIMT 9707 B-1 2,007,892 7.0000 1,598 11,713 13,311 0 0 2,006,294
CAPPTC 94C B-1 5,691,764 6.7500 8,469 32,016 40,485 0 0 5,683,295
CFC 9301 B-1 18,832,014 7.1250 24,652 111,815 136,467 0 0 18,807,362
CFC 9401 B-1 8,505,655 6.8750 11,064 48,730 59,794 0 0 8,494,592
CFC 9409 B-2 3,198,225 6.5000 4,026 17,324 21,350 0 0 3,194,199
CFC 9418 B-3 1,683,634 8.0000 1,837 11,224 13,062 0 0 1,681,797
CFC 9602 B-2 2,794,763 7.7500 2,461 18,049 20,511 0 0 2,792,301
CFC 9705 B-3 2,081,235 7.5000 1,548 13,008 14,556 0 0 2,079,687
FBCS 9302R 1 8,244,523 7.4250 40,382 51,013 91,395 0 0 8,204,141
CWD 94A B-3 1,884,739 6.7500 2,428 10,601 13,030 0 0 1,882,311
CWD 94C B-2 2,893,405 6.5000 3,553 15,672 19,225 0 0 2,889,852
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 4,367,374 6.5000 5,018 23,657 28,675 0 0 4,362,356
RAST 96A3 B-1-B 6,868,817 7.5000 7,976 42,783 50,758 0 147 6,860,841
RAST 96A4 B-2 5,005,940 7.5000 3,694 31,194 34,888 0 93 5,002,246
DLJ 9403 B-1 6,655,554 6.5000 11,056 36,051 47,107 0 0 6,644,498
GECAP 9401 B-2 7,518,302 6.5000 13,382 40,472 53,854 0 252 7,504,920
GECAP 9416 B-2 3,025,016 6.5000 3,918 16,241 20,159 0 145 3,021,098
GECAP 9427 B-2 2,211,628 6.5000 2,966 11,980 14,945 0 0 2,208,663
GECAP 9507 B-2 4,845,368 7.5000 4,510 30,283 34,794 0 0 4,840,858
GECAP 9615 B-1 3,084,821 7.7500 2,401 19,923 22,324 0 0 3,082,421
GECAP 9616 B-2 2,478,594 7.7500 7,381 16,008 23,389 0 0 2,471,213
GECAP 9701 B-1 3,700,080 7.5000 2,930 23,125 26,055 0 0 3,697,150
GECAP 9702 1-B-2 4,436,947 7.5000 3,618 27,731 31,349 0 0 4,433,330
GECAP 9709 1-B-1 4,726,532 7.2500 3,597 28,556 32,153 0 0 4,722,934
GECAP 9709 1-B-2 3,731,289 7.2500 2,840 22,543 25,383 0 0 3,728,450
GECAP 9709 2-B-2 2,610,915 7.0000 2,018 15,230 17,248 0 0 2,608,897
GECAP 9712 B-1 6,091,532 7.0000 4,710 35,534 40,244 0 0 6,086,822
GECAP 9712 B-2 4,809,104 7.0000 3,719 28,053 31,772 0 0 4,805,385
HMSI 9705 B-2 4,917,851 7.2500 3,978 29,712 33,690 0 0 4,913,873
MSCAPI 9601 B-2 2,298,556 7.2500 2,219 13,887 16,106 0 0 2,296,337
MORSRV 9602 B-1 1,984,030 7.2500 3,950 11,987 15,937 0 0 1,980,080
NSCOR 9604 B-1 4,703,426 7.7500 4,037 30,376 34,413 0 0 4,699,389
NSCOR 9605 B-1 4,493,394 8.0000 3,405 29,956 33,361 0 0 4,489,989
PWMAC 9307 M-3 1,825,012 7.5000 35,968 11,406 47,375 0 0 1,789,043
PWMAC 9402 M-2 3,273,779 6.5000 4,444 17,733 22,177 0 0 3,269,335
PWMAC 9402 M-3 2,410,645 6.5000 3,272 13,058 16,330 0 0 2,407,372
PNC 9502 B-3 2,621,592 7.5000 2,720 16,385 19,106 0 0 2,618,871
PNC 9702 B-2 1,750,356 7.5000 1,425 10,940 12,365 0 0 1,748,930
PNC 9705 B-2 2,606,002 7.2500 1,956 15,745 17,700 0 0 2,604,046
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 3,474,670 7.2500 2,608 20,993 23,601 0 0 3,472,062
PHMSC 93E 2-B 20,432,019 7.3942 248,037 125,862 373,899 0 37 20,183,982
PHMSC 93L 3-B-3 5,000,000 6.6412 0 27,672 27,672 0 0 5,000,000
PHMSC 94A 5-B 20,180,716 6.8032 25,957 114,412 140,369 4,003 0 20,154,760
PHMSC 94E 2-B 31,520,635 7.3399 9,001 192,802 201,803 78,665 (2) 31,511,634
PHMSC 95A 3-B 6,248,572 8.6840 5,669 46,765 52,433 27,252 (1,545) 6,242,904
RFC 93S10 M-2 1,806,740 8.5000 1,818 12,713 14,531 84 1,804,922
RFC 93S18 M-2 5,851,060 7.5000 20,599 35,836 56,436 0 733 5,830,461
RFC 93S18 M-3 3,525,250 7.5000 0 43,095 43,095 0 (21,063) 3,525,250
RFC 93S21 M-3 2,548,890 7.5000 28,395 15,467 43,862 0 463 2,520,495
RFC 93S22 M-2 4,076,278 7.0000 9,991 23,492 33,483 0 286 4,066,287
RFC 93S22 M-3 2,448,953 7.0000 738 14,114 14,852 0 172 2,448,214
RFC 93S24 M-3 3,560,509 7.0000 4,695 20,588 25,283 0 182 3,555,813
RFC 93S26 M-2 5,312,012 7.5000 6,569 32,405 38,974 0 795 5,305,443
RFC 93S26 M-3 3,617,240 7.5000 4,473 22,067 26,540 0 541 3,612,767
RFC 93S27 M-3 1,957,699 7.5000 2,307 12,087 14,395 0 148 1,955,392
RFC 93S28 M-2 3,025,331 7.0000 3,826 17,333 21,159 0 315 3,021,505
RFC 93S28 M-3 2,017,830 7.0000 2,552 11,561 14,113 0 210 2,015,278
RFC 93S34 M-3 2,014,900 7.0000 2,605 11,657 14,262 0 96 2,012,295
RFC 94S3 M-3 1,417,020 6.7269 1,793 7,881 9,675 0 62 1,415,227
RFC 95R20 M-3 3,170,827 7.5000 3,243 19,812 23,054 0 6 3,167,584
RFC 96S10 M-2 6,539,888 7.5000 5,790 40,652 46,442 0 222 6,534,097
RFC 96S14 M-2 3,584,252 7.5000 6,896 22,372 29,268 0 29 3,577,357
RFC 96S14 M-3 1,792,126 7.5000 3,448 11,186 14,634 0 15 1,788,678
RFC 96S16 M-2 4,444,998 7.7500 3,326 28,350 31,677 0 357 4,441,672
RFC 96S18 M-2 2,621,575 8.0000 1,995 17,423 19,418 0 54 2,619,580
RFC 96S23 M-2 3,189,756 7.7500 7,120 20,078 27,198 0 522 3,182,636
RFC 96S25 M-2 3,141,999 7.7500 2,404 20,197 22,601 0 95 3,139,594
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 4,445,772 7.2500 3,014 26,849 29,863 0 11 4,442,758
RYLPT 92A 1-B 1,500,000 8.2958 0 10,325 10,325 0 45 1,500,000
RYLPT 9304 B-2 5,096,350 7.5000 38,769 31,852 70,621 0 0 5,057,580
SBMSI 92D B-4 4,095,130 8.0143 12,690 26,943 39,633 0 406 4,082,488
SBMSI 9409 B-2 4,067,963 7.0000 4,859 23,730 28,588 0 0 4,063,105
SASI 9405 B-2 4,745,493 7.0000 5,762 27,682 33,444 0 0 4,739,731
SASI 9405 B-3 3,559,120 7.0000 4,321 20,762 25,083 0 0 3,554,798
SASI 9504 B-2 4,269,500 7.5000 3,902 26,684 30,587 0 0 4,265,597
SASI 93J 3-B 16,178,683 6.8080 10,932 91,788 102,720 0 0 16,167,751
SASCO 9601 B-1 3,138,382 7.2500 3,044 18,961 22,005 0 0 3,135,338
SASCO 9601 B-2 1,614,109 7.2500 1,566 9,752 11,318 0 0 1,612,543
SASCO 9602 B-2 2,437,346 7.0000 3,028 14,218 17,246 0 0 2,434,318
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