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): December 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 December 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.
(28.9) December 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: December 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
(28.9) December 1, 1998 - Information on Distribution to
Certificateholders
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<TABLE>
December 1, 1998 - INFORMATION ON DISTRIBUTION EXHIBIT 28.9
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 57,436,417 6.75% 792,257 323,080 1,115,337 0 0 56,644,160 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 60,402,925 6.75% 236,025 339,766 575,792 0 0 60,166,900 0
C 45,175,297 6.75% 176,523 254,111 430,634 0 0 44,998,774 0
D 73,346,410 6.75% 286,602 412,573 699,176 0 0 73,059,807 0
E 42,383,565 6.75% 165,614 238,408 404,022 0 0 42,217,951 0
F 52,535,317 6.75% 205,282 295,511 500,793 0 0 52,330,035 0
G 14,720,040 6.75% 57,519 82,800 140,319 0 0 14,662,521 0
H 16,242,808 6.75% 63,469 91,366 154,835 0 0 16,179,339 29,334
X 507,558,492 0.39% N/A 166,858 166,858 N/A 0 505,575,200 N/A
PO 657,906 N/A 0 0.00 0 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 507,558,492 1,983,292 3,021,875 5,005,167 0.00 0 505,575,200 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 13.287554 5.418622 950.023088
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 3.844076 5.533678 979.920975
C 45,920,819 6.75 073914C35 3.844076 5.533678 979.920975
D 74,556,836 6.75 073914C43 3.844076 5.533678 979.920975
E 43,083,016 6.75 073914C50 3.844076 5.533678 979.920976
F 53,402,301 6.75 073914C68 3.844076 5.533678 979.920975
G 14,962,963 6.75 073914C76 3.844076 5.533678 979.920976
H 16,510,861 6.75 PRIVATE 3.844076 5.533678 979.920977
X 515,964,267 0.39 073914C84 0.000000 0.323391 979.864755
PO 2,008,801 N/A PRIVATE 0.000000 0.000000 327.511727
,
R-1 100 6.75 PRIVATE 0.000000 0.000000 0.000000
R-2 100 6.75 PRIVATE 0.000000 0.279113 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 15,150,045 8.2182 362,241 103,779 466,020 0 (24) 14,787,803
BSMSI 9308 M 18,604,644 7.5000 180,279 116,279 296,998 0 0 18,423,925
CAPPTC 94C B-1 5,674,757 6.7500 8,623 31,912 40,535 0 9 5,666,135
CFC 9301 B-1 18,707,089 7.1250 171,949 111,073 283,022 0 0 18,535,140
CFC 9401 B-1 8,483,352 6.8750 11,264 48,602 59,867 0 0 8,472,088
CFC 9409 B-2 3,190,134 6.5000 4,092 17,280 21,372 0 0 3,186,042
CFC 9418 B-3 1,679,988 8.0000 1,858 11,200 13,058 0 0 1,678,129
CFC 9602 B-2 2,789,803 7.7500 2,511 18,017 20,528 0 0 2,787,292
CFC 9705 B-3 2,078,117 7.5000 1,571 12,988 14,559 0 0 2,076,547
CHASE 94E B-2 1,596,957 6.2500 8,932 8,317 17,249 0 0 1,588,026
CHEMPT 9601 B-3 2,341,800 7.2500 2,324 14,146 16,471 0 0 2,339,475
CITIMT 9016 B 4,676,106 9.5000 273,518 37,019 310,537 0 0 4,402,589
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 10,274,590 6.5000 15,793 55,654 71,447 0 0 10,258,797
CITIMT 9405 B-1 15,770,323 6.2500 25,059 82,137 107,196 0 0 15,745,264
CITIMT 9407 B-1 9,372,867 6.2500 12,853 48,817 61,670 0 0 9,360,014
CITIMT 9410 B-1 8,637,464 6.2500 10,820 44,987 55,807 0 0 8,626,644
CITIMT 9411 B-1 14,667,074 6.2500 18,800 76,391 95,191 0 0 14,648,274
CITIMT 9413 B-2 1,171,895 6.5000 1,486 6,348 7,834 0 0 1,170,409
CITIMT 9502 B-3 1,271,848 7.5000 1,460 7,949 9,409 0 0 1,270,387
CITIMT 9601 B-1 2,459,438 7.5000 2,101 15,010 17,112 0 361 2,457,337
CITIMT 9703 B-1 1,998,510 7.2500 1,609 12,074 13,684 0 0 1,996,901
CITIMT 9703 B-2 1,998,510 7.2500 1,609 12,074 13,684 0 0 1,996,901
CITIMT 9707 B-1 2,004,678 7.0000 1,633 11,694 13,327 0 0 2,003,045
CWD 94A B-3 1,879,869 6.7500 7,730 10,574 18,304 0 0 1,872,140
CWD 94C B-2 2,886,248 6.5000 3,648 15,634 19,282 0 0 2,882,600
CWD 94G B-1 4,357,287 6.5000 5,009 23,602 28,611 0 0 4,352,278
DLJ 9403 B-1 6,636,022 6.5000 10,434 35,945 46,379 0 0 6,625,588
FBCS 9302R 1 8,163,310 7.4250 40,968 50,510 91,478 0 0 8,122,342
Beginning Pass Thru Prin. Int. Total Prin. Int. Ending
Issue Cert. Bal. Rate Dist. Amt.Dist. Amt. Dist. Losses Shortfall Cert. Bal.
GECAP 9401 B-2 7,489,238 6.5000 10,042 40,210 50,253 0 356 7,479,195
GECAP 9416 B-2 3,017,087 6.5000 4,009 16,276 20,285 0 66 3,013,078
GECAP 9427 B-2 2,205,668 6.5000 3,020 11,947 14,968 0 0 2,202,647
GECAP 9507 B-2 4,836,356 7.5000 4,609 30,227 34,837 0 0 4,831,747
GECAP 9615 B-1 3,079,989 7.7500 2,420 19,891 22,312 0 0 3,077,568
GECAP 9616 B-2 2,468,322 7.7500 1,876 15,941 17,817 0 0 2,466,446
GECAP 9701 B-1 3,694,184 7.5000 2,984 23,089 26,072 0 0 3,691,200
GECAP 9702 1-B-2 4,429,713 7.5000 3,640 27,686 31,325 0 0 4,426,073
GECAP 9709 1-B-1 4,719,375 7.2500 3,522 28,513 32,035 0 0 4,715,853
GECAP 9709 1-B-2 3,725,639 7.2500 2,780 22,509 25,289 0 0 3,722,859
GECAP 9709 2-B-2 2,606,829 7.0000 2,066 15,206 17,273 0 0 2,604,763
GECAP 9712 B-1 6,082,081 7.0000 4,712 35,479 40,191 0 0 6,077,369
GECAP 9712 B-2 4,801,642 7.0000 3,720 28,010 31,730 0 0 4,797,922
HMSI 9705 B-2 4,909,780 7.2500 4,123 29,663 33,786 0 0 4,905,656
MORSRV 9602 B-1 1,976,097 7.2500 4,007 11,939 15,946 0 0 1,972,090
MSCAPI 9601 B-2 2,294,069 7.2500 2,291 13,860 16,151 0 0 2,291,778
NSCOR 9604 B-1 4,695,281 7.7500 4,166 30,324 34,490 0 0 4,691,115
NSCOR 9605 B-1 4,486,579 8.0000 3,436 29,910 33,347 0 0 4,483,143
PHMSC 93E 2-B 19,973,731 7.3942 290,749 123,031 413,780 0 44 19,682,982
PHMSC 93L 3-B-3 5,000,000 6.6412 0 27,672 27,672 0 0 5,000,000
PHMSC 94A 5-B 20,141,971 6.8032 18,954 114,192 133,146 0 0 20,123,017
PHMSC 94E 2-B 31,502,523 7.3399 9,092 192,693 201,785 0 (4) 31,493,431
PHMSC 95A 3-B 6,229,054 8.6840 6,277 46,619 52,896 0 (1,541) 6,222,777
PNC 9502 B-3 2,616,124 7.5000 2,783 16,351 19,133 0 0 2,613,341
PNC 9702 B-2 1,747,493 7.5000 1,457 10,922 12,379 0 0 1,746,036
PNC 9705 B-2 2,602,091 7.2500 1,992 15,721 17,713 0 0 2,600,099
PNC 9705 B-3 3,469,456 7.2500 2,656 20,962 23,617 0 (1) 3,466,800
PWMAC 9307 M-3 1,767,511 7.5000 29,902 11,047 40,949 0 0 1,737,610
PWMAC 9402 M-2 3,264,901 6.5000 4,424 17,685 22,109 0 0 3,260,477
PWMAC 9402 M-3 2,404,108 6.5000 3,258 13,022 16,280 0 0 2,400,850
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 4,439,049 7.2500 6,114 26,787 32,901 0 32 4,432,935
RAST 96A3 B-1-B 6,855,713 7.5000 5,087 42,370 47,457 0 478 6,850,626
RAST 96A4 B-2 4,998,514 7.5000 3,777 31,179 34,956 0 62 4,994,738
RFC 93S10 M-2 1,797,367 8.5000 1,816 12,521 14,337 0 210 1,795,550
RFC 93S18 M-2 5,823,078 7.5000 7,385 35,642 43,027 0 752 5,815,693
RFC 93S18 M-3 3,520,786 7.5000 4,465 21,550 26,015 0 455 3,516,321
RFC 93S21 M-3 2,510,472 7.5000 3,087 15,506 18,593 0 184 2,507,386
RFC 93S22 M-2 4,066,287 7.0000 5,399 46,804 52,203 0 (23,084) 4,060,888
RFC 93S22 M-3 2,448,214 7.0000 3,250 28,180 31,430 0 (13,898) 2,444,964
RFC 93S24 M-3 3,547,899 7.0000 4,740 20,347 25,087 0 349 3,543,159
RFC 93S26 M-2 5,288,968 7.5000 6,611 32,232 38,843 0 824 5,282,357
RFC 93S26 M-3 3,601,548 7.5000 4,502 21,948 26,450 0 561 3,597,046
RFC 93S27 M-3 1,953,049 7.5000 2,325 11,872 14,197 0 334 1,950,724
RFC 93S28 M-2 3,001,873 7.0000 25,430 17,281 42,711 0 230 2,976,443
RFC 93S28 M-3 2,002,184 7.0000 16,962 11,526 28,487 0 154 1,985,222
RFC 93S34 M-3 1,990,057 7.0000 2,570 11,555 14,125 0 54 2,004,416
RFC 94S3 M-3 1,413,411 6.7269 1,841 7,866 9,707 0 57 1,411,571
RFC 95R20 M-3 3,164,356 7.5000 3,309 19,772 23,081 0 5 3,161,047
RFC 96S10 M-2 6,528,276 7.5000 5,881 40,489 46,370 0 313 6,522,395
RFC 96S14 M-2 3,573,376 7.5000 4,033 22,306 26,338 0 28 3,569,344
RFC 96S14 M-3 1,786,688 7.5000 2,016 11,153 13,169 0 14 1,784,672
RFC 96S16 M-2 4,431,121 7.7500 3,439 28,197 31,636 0 420 4,427,682
RFC 96S18 M-2 2,617,626 8.0000 1,981 17,201 19,182 0 250 2,615,645
RFC 96S23 M-2 3,178,827 7.7500 3,526 20,363 23,888 0 167 3,175,301
RFC 96S25 M-2 3,131,461 7.7500 2,409 19,898 22,308 0 326 3,129,051
Beginning Pass Thru Prin. Int. Total Prin. Interest Ending
Issue Cert. Bal. Rate Dist. Amt. Dist. Amt. Dist. Losses Shortfall Cert. Bal.
RYLPT 92A 1-B 1,500,000 8.2958 0 10,323 10,323 0 47 1,500,000
RYLPT 9304 B-2 5,010,429 7.5000 60,700 31,315 92,015 0 0 4,949,728
SASCO 9601 B-1 3,132,285 7.2500 3,099 18,924 22,023 0 0 3,129,186
SASCO 9601 B-2 1,610,973 7.2500 1,594 9,733 11,327 0 0 1,609,379
SASCO 9602 B-2 2,431,634 7.0000 3,091 14,184 17,276 0 0 2,428,543
SASI 9405 B-2 4,733,835 7.0000 5,903 27,614 33,518 0 0 4,727,932
SASI 9405 B-3 3,550,377 7.0000 4,428 20,710 25,138 0 0 3,545,949
SASI 9504 B-2 4,261,624 7.5000 3,948 26,635 30,583 0 0 4,257,676
SASI 93J 3-B 16,139,191 6.8080 156,571 91,554 248,125 0 0 15,982,619
SBMSI 92D B-4 4,074,135 8.0143 9,362 26,485 35,847 0 724 4,064,773
SBMSI 9409 B-2 4,058,135 7.0000 4,764 23,672 28,437 0 0 4,053,371
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