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, 1999
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, 1999. The distribution was made
pursuant to the provisions of a Polling and Servicing Agreement dated
March 26, 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.
(28.21) December 1, 1999 - 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 12, 1999 By: /S/Samuel Molinaro
Samuel Molinaro
Treasurer and Secretary
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STRUCTURED ASSET MORTGAGE INVESTMENTS, INC.
FORM 8-K
CURRENT REPORT
Exhibit Index
Exhibit No. Description
(28.21) December 1, 1999 - Information on Distribution to
Certificateholders
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<TABLE>
December 1, 1999 - INFORMATION ON DISTRIBUTION EXHIBIT 28.21
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 45,730,967 6.75% 28,949 257,236 286,186 0 0 45,701,988 0
A-2 64,519,774 6.75% 521,087 362,924 884,010 0 0 63,998,687 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 56,824,975 6.75% 163,605 319,640 483,245 0 0 56,661,371 0
C 42,499,351 6.75% 122,360 239,059 361,419 0 0 42,376,991 0
D 69,001,756 6.75% 198,663 388,135 586,798 0 0 68,803,093 0
E 39,872,987 6.75% 114,798 224,285 339,084 0 0 39,758,189 0
F 49,423,403 6.75% 142,295 278,007 420,301 0 0 49,281,108 0
G 13,848,103 6.75% 39,870 77,895 117,766 0 0 13,808,233 0
H 15,280,917 6.75% 42,999 85,955 128,954 996 0 15,236,922 996.55
X 477,455,006 0.41% N/A 163,977 163,977 N/A 0 476,079,384 N/A
PO 555,146 N/A 0.0 0.00 0 N/A 0 555,146
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 477,455,006 1,374,625 2,849,661 4,224,286 996 0 476,079,384 996.55
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 4.305214 4.305214 764.886822
A-2 64,862,910 6.75 073914F32 5.583442 5.583442 984.595186
A-3 45,526,720 6.75 073914F40 5.613136 5.613136 997.890930
A-4 24,947,273 6.75 073914F57 5.613136 5.613136 997.890920
A-5 9,978,809 6.75 073914F65 5.613136 5.613136 997.890879
B 61,399,747 6.75 073914C27 5.205893 5.205893 922.827432
C 45,920,819 6.75 073914C35 5.205893 5.205893 922.827432
D 74,556,836 6.75 073914C43 5.205893 5.205893 922.827432
E 43,083,016 6.75 073914C50 5.205893 5.205893 922.827432
F 53,402,301 6.75 073914C68 5.205893 5.205893 922.827433
G 14,962,963 6.75 073914C76 5.205893 5.205893 922.827432
H 16,510,861 6.75 PRIVATE 5.205977 5.205977 922.842349
X 515,964,267 0.43 073914C84 0.317807 0.317807 922.698363
PO 2,008,801 N/A PRIVATE 0.000000 0.000000 276.356827
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-3 103 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 9,473,986 8.2182 134,918 64,694 199,611 0 189 9,339,069
BSMSI 9308 M 16,647,303 7.5000 103,363 104,046 207,409 0 0 16,543,940
CAPPTC 94C B-1 5,353,627 6.7500 18,354 30,114 48,468 0 0 5,335,273
CFC 9301 B-1 17,070,045 7.1250 88,104 101,353 189,458 0 0 16,981,940
CFC 9401 B-1 8,048,351 6.8750 33,980 46,110 80,091 0 0 8,014,371
CFC 9409 B-2 3,064,386 6.5000 10,126 16,599 26,725 0 0 3,054,260
CFC 9418 B-3 1,630,825 8.0000 2,778 10,872 13,650 0 0 1,628,047
CFC 9602 B-2 2,759,231 7.7500 2,693 17,820 20,514 0 0 2,756,538
CFC 9705 B-3 2,054,733 7.5000 6,861 12,842 19,703 0 0 2,047,872
CHASE 94E B-2 1,459,981 6.2500 12,399 7,604 20,003 0 0 1,447,582
CHEMPT 9601 B-3 2,312,351 7.2500 2,626 13,970 16,597 0 0 2,309,724
CITIMT 9016 B 3,541,062 9.5000 5,318 28,033 33,351 183 0 3,535,561
CITIMT 9205 B 7,388,273 8.0000 16,939 49,255 66,194 0 0 7,371,334
CITIMT 9219 B 9,109,558 7.5000 0 56,935 56,935 0 0 9,109,558
CITIMT 9401 B-1 9,590,805 6.5000 25,999 51,950 77,950 0 0 9,564,805
CITIMT 9405 B-1 14,995,923 6.2500 39,964 78,104 118,068 0 0 14,995,959
CITIMT 9407 B-1 8,913,436 6.2500 14,660 46,424 61,084 0 0 8,898,776
CITIMT 9410 B-1 8,308,734 6.2500 31,593 43,275 74,871 0 0 8,277,137
CITIMT 9411 B-1 14,354,389 6.2500 23,674 74,762 98,436 0 0 14,330,715
CITIMT 9413 B-2 1,152,948 6.5000 6,464 6,245 12,709 0 0 1,146,484
CITIMT 9502 B-3 1,253,537 7.5000 1,643 7,835 9,478 0 0 1,251,893
CITIMT 9601 B-1 2,432,432 7.5000 2,412 15,203 17,615 0 0 2,430,020
CITIMT 9703 B-1 1,977,660 7.2500 1,874 11,948 13,823 0 0 1,975,785
CITIMT 9703 B-2 1,977,660 7.2500 1,874 11,948 13,823 0 0 1,975,785
CITIMT 9707 B-1 1,984,124 7.0000 1,822 11,574 13,395 0 0 1,982,302
CWD 94A B-3 1,756,913 6.7500 6,754 9,883 16,637 0 0 1,750,159
CWD 94C B-2 2,731,852 6.5000 7,359 14,797 22,157 0 0 2,724,493
CWD 94G B-1 4,134,797 6.5000 21,521 22,397 43,918 0 0 4,113,276
DLJ 9403 B-1 6,526,234 6.5000 28,019 35,350 63,670 0 0 6,498,215
FBCS 9302R 1 7,687,471 7.4250 38,312 47,566 85,878 24,285 0 7,649,159
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 7,032,702 6.5000 27,480 38,009 65,489 0 85 7,005,222
GECAP 9416 B-2 2,925,396 6.5000 11,013 15,787 26,800 0 59 2,914,383
GECAP 9427 B-2 2,154,741 6.5000 7,061 11,672 18,732 0 0 2,147,681
GECAP 9507 B-2 4,698,083 7.5000 5,311 29,363 34,674 0 0 4,692,772
GECAP 9615 B-1 3,020,677 7.7500 2,902 19,508 22,411 0 0 3,017,774
GECAP 9616 B-2 2,432,336 7.7500 2,356 15,709 18,065 0 0 2,429,980
GECAP 9701 B-1 3,643,697 7.5000 3,019 22,773 25,793 0 0 3,640,677
GECAP 9702 1-B-2 4,368,986 7.5000 4,173 27,306 31,479 0 0 4,364,813
GECAP 9709 1-B-1 4,660,875 7.2500 4,210 28,159 32,369 0 0 4,656,665
GECAP 9709 1-B-2 3,679,458 7.2500 3,323 22,230 25,553 0 0 3,676,135
GECAP 9709 2-B-2 2,576,568 7.0000 2,331 15,030 17,361 0 0 2,574,236
GECAP 9712 B-1 6,021,827 7.0000 5,464 35,127 40,591 0 0 6,016,363
GECAP 9712 B-2 4,754,073 7.0000 4,313 27,732 32,046 0 0 4,749,760
HMSI 9705 B-2 4,853,432 7.2500 4,995 29,333 34,328 0 (10) 4,848,436
MORSRV 9602 B-1 1,926,610 7.2500 4,318 11,640 15,958 0 0 1,922,293
MSCAPI 9601 B-2 2,265,400 7.2500 2,515 13,687 16,202 0 0 2,262,885
NSCOR 9604 B-1 4,642,082 7.7500 4,865 29,980 34,846 0 0 4,637,217
NSCOR 9605 B-1 4,442,693 8.0000 4,052 29,618 33,670 0 0 4,438,641
PHMSC 93E 2-B 16,954,461 7.3942 95,993 104,358 200,351 0 113 16,858,468
PHMSC 93L 3-B-3 5,000,000 6.6412 0 27,670 27,670 0 1 5,000,000
PHMSC 94A 5-B 19,001,732 6.8036 74,027 107,677 181,705 0 57 18,927,704
PHMSC 94E 2-B 30,606,547 7.3399 131,394 187,233 318,628 0 (25) 30,475,152
PHMSC 95A 3-B 6,148,367 8.6841 7,279 46,016 53,295 0 (1,522) 6,141,087
PNC 9502 B-3 2,573,894 7.5000 3,036 16,087 19,123 0 0 2,570,858
PNC 9702 B-2 1,729,185 7.5000 1,605 10,807 12,412 0 0 1,727,580
PNC 9705 B-2 2,574,620 7.2500 2,250 15,555 17,805 0 0 2,572,370
PNC 9705 B-3 3,432,827 7.2500 2,999 20,740 23,740 0 0 3,429,828
PWMAC 9307 M-3 1,522,952 7.5000 6,898 9,518 16,416 0 0 1,516,054
PWMAC 9402 M-2 3,088,833 6.5000 7,555 16,731 24,286 0 0 3,081,277
PWMAC 9402 M-3 2,274,460 6.5000 5,563 12,320 17,883 0 0 4,380,458
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 4,394,815 7.2500 14,358 26,533 40,891 0 19 4,380,458
RAST 96A3 B-1-B 6,781,181 7.5000 5,877 42,382 48,259 0 0 6,775,304
RAST 96A4 B-2 4,884,079 7.5000 4,341 30,525 34,866 0 0 4,879,738
RFC 93S10 M-2 1,776,933 8.5000 2,090 12,585 14,674 0 2 1,774,843
RFC 93S18 M-2 5,717,686 7.5000 8,581 35,455 44,035 0 281 5,709,105
RFC 93S18 M-3 3,457,063 7.5000 5,188 21,437 26,625 0 170 3,451,875
RFC 93S21 M-3 2,472,485 7.5000 3,446 15,374 18,820 0 79 2,469,039
RFC 93S22 M-2 3,999,499 7.0000 6,072 23,297 29,369 0 33 3,993,427
RFC 93S22 M-3 2,410,881 7.0000 3,660 14,043 17,704 0 20 2,407,221
RFC 93S24 M-3 3,498,196 7.0000 5,221 20,245 25,466 0 161 3,492,976
RFC 93S26 M-2 5,203,622 7.5000 7,792 32,296 40,088 0 227 5,195,829
RFC 93S26 M-3 3,543,431 7.5000 5,306 21,992 27,298 0 155 3,538,125
RFC 93S27 M-3 1,924,170 7.5000 2,595 12,016 14,611 0 10 1,921,575
RFC 93S28 M-2 2,687,367 7.0000 7,029 15,654 22,683 0 22 2,680,338
RFC 93S28 M-3 1,792,416 7.0000 4,688 10,441 15,129 0 15 1,787,727
RFC 93S34 M-3 1,970,863 7.0000 2,889 11,387 14,277 0 109 1,967,974
RFC 94S3 M-3 1,390,509 6.7269 2,038 7,723 9,761 0 72 1,388,471
RFC 95R20 M-3 3,121,810 7.5000 3,891 19,504 23,395 0 7 3,117,919
RFC 96S10 M-2 6,452,366 7.5000 7,075 40,297 47,372 0 30 6,445,291
RFC 96S14 M-2 3,519,499 7.5000 4,611 21,990 26,601 0 7 3,514,889
RFC 96S14 M-3 1,759,750 7.5000 2,305 10,995 13,301 0 3 1,757,444
RFC 96S16 M-2 4,342,177 7.7500 4,053 28,007 32,060 0 36 4,338,123
RFC 96S18 M-2 2,591,949 8.0000 2,354 17,276 19,630 0 3 2,589,595
RFC 96S23 M-2 3,117,443 7.7500 17,926 20,129 38,054 0 5 3,099,517
RFC 96S25 M-2 3,096,742 7.7500 3,029 19,985 23,014 0 15 3,093,713
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 10,324 10,324 0 46 1,500,000
RYLPT 9304 B-2 4,455,598 7.5000 13,633 27,847 41,480 0 0 4,441,964
SASCO 9601 B-1 3,093,969 7.2500 3,361 18,693 22,054 0 0 3,090,608
SASCO 9601 B-2 1,591,267 7.2500 1,729 9,614 11,343 0 0 1,589,538
SASCO 9602 B-2 2,408,227 7.0000 0 14,048 14,048 0 0 2,408,227
SASI 9405 B-2 4,551,203 7.0000 15,725 26,549 42,273 0 0 4,535,478
SASI 9405 B-3 3,413,402 7.0000 11,794 19,911 31,705 0 0 3,401,609
SASI 9504 B-2 4,211,202 7.5000 4,625 26,320 30,945 0 0 4,206,577
SASI 93J 3-B 14,688,681 6.8080 38,895 83,276 122,171 0 58 14,649,786
SBMSI 92D B-4 2,895,812 8.0143 20,464 18,897 39,361 814 443 2,874,533
SBMSI 9409 B-2 3,996,328 7.0000 5,684 23,312 28,995 0 0 3,990,645
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