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): July 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 July 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.
(28.16) July 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: July 12, 1999 By: /S/Sam Molinaro
Sam Molinaro
Treasurer and Secretary
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STRUCTURED ASSET MORTGAGE INVESTMENTS, INC.
FORM 8-K
CURRENT REPORT
Exhibit Index
Exhibit No. Description
(28.16) July 1, 1999 - Information on Distribution to
Certificateholders
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<TABLE>
July 1, 1999 - INFORMATION ON DISTRIBUTION EXHIBIT 28.16
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 50,749,699 6.75% 1,034,095 285,467 1,319,562 0 0 49,715,605 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 58,412,867 6.75% 308,059 328,572 636,632 0 0 58,104,808 0
C 43,686,934 6.75% 230,397 245,739 476,136 0 0 43,456,537 0
D 70,929,910 6.75% 374,072 398,981 773,053 0 0 70,555,838 0
E 40,987,180 6.75% 216,159 230,553 446,712 0 0 40,771,021 0
F 50,804,468 6.75% 267,934 285,775 553,709 0 0 50,536,534 0
G 14,235,068 6.75% 75,073 80,072 155,146 0 0 14,159,995 0
H 15,707,920 6.75% 82,751 88,357 171,108 89.98 0 15,625,079 89.98
X 490,829,757 0.42% N/A 172,749 172,749 N/A 0 488,241,127 N/A
PO 555,326 N/A 0.0 0.00 0 N/A 0 555,326
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 490,829,757 2,588,540 2,933,666 5,522,208 89.98 0 488,241,127 89.98
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 17.307025 4.777691 832.060327
A-2 64,862,910 6.75 073914F32 0.000000 5.613136 997.890923
A-3 45,526,720 6.75 073914F40 0.000000 5.613136 997.890930
A-4 24,947,273 6.75 073914F57 0.000000 5.613136 997.890920
A-5 9,978,809 6.75 073914F65 0.000000 5.613136 997.890879
B 61,399,747 6.75 073914C27 5.017272 5.351364 946.336269
C 45,920,819 6.75 073914C35 5.017272 5.351364 946.336269
D 74,556,836 6.75 073914C43 5.017272 5.351364 946.336269
E 43,083,016 6.75 073914C50 5.017272 5.351364 946.336270
F 53,402,301 6.75 073914C68 5.017272 5.351364 946.336270
G 14,962,963 6.75 073914C76 5.017272 5.351364 946.336270
H 16,510,861 6.75 PRIVATE 5.011903 5.351450 946.351547
X 515,964,267 0.42 073914C84 0.000000 0.334809 946.269264
PO 2,008,801 N/A PRIVATE 0.000000 0.000000 276.446433
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 11,051,424 8.2182 354,709 75,244 429,953 0 442 10,696,715
BSMSI 9308 M 17,150,412 7.5000 210,397 107,190 317,587 0 0 16,940,075
CAPPTC 94C B-1 5,516,321 6.7500 40,011 31,029 71,040 0 00 5,476,310
CFC 9301 B-1 17,538,545 7.1250 118,717 104,135 222,852 0 0 17,419,828
CFC 9401 B-1 8,237,055 6.8750 43,916 47,191 91,108 0 0 8,193,138
CFC 9409 B-2 3,131,522 6.5000 15,501 16,962 32,464 0 0 3,116,020
CFC 9418 B-3 1,666,582 8.0000 2,122 11,111 13,233 0 0 1,664,460
CFC 9602 B-2 2,772,221 7.7500 2,608 17,904 20,512 0 0 2,769,613
CFC 9705 B-3 2,065,682 7.5000 1,735 12,911 14,646 0 0 2,063,947
CHASE 94E B-2 1,525,374 6.2500 11,563 7,945 19,507 0 0 1,513,811
CHEMPT 9601 B-3 2,325,061 7.2500 2,485 14,047 16,532 0 0 2,322,575
CITIMT 9016 B 3,946,579 9.5000 18,785 31,244 50,029 0 0 3,927,794
CITIMT 9205 B 9,367,555 8.0000 234,508 62,450 296,958 0 0 9,133,047
CITIMT 9219 B 9,109,558 7.5000 0 56,935 56,935 0 0 9,109,558
CITIMT 9401 B-1 9,927,382 6.5000 105,529 53,773 159,302 0 0 9,821,852
CITIMT 9405 B-1 15,448,651 6.2500 106,596 80,462 187,058 0 0 15,342,055
CITIMT 9407 B-1 9,209,589 6.2500 70,934 47,967 118,901 0 0 9,138,655
CITIMT 9410 B-1 8,560,002 6.2500 11,439 44,583 56,022 0 0 8,548,563
CITIMT 9411 B-1 14,529,802 6.2500 20,609 75,676 96,285 0 0 14,509,193
CITIMT 9413 B-2 1,161,169 6.5000 1,597 6,290 7,887 0 0 1,159,571
CITIMT 9502 B-3 1,261,466 7.5000 1,545 7,884 9,429 0 0 1,259,921
CITIMT 9601 B-1 2,444,154 7.5000 2,310 15,276 17,586 0 0 2,441,844
CITIMT 9703 B-1 1,986,755 7.2500 1,767 11,879 13,645 0 125 1,984,988
CITIMT 9703 B-2 1,986,755 7.2500 1,767 11,879 13,645 0 125 1,984,988
CITIMT 9707 B-1 1,992,941 7.0000 1,729 11,625 13,355 0 0.0 1,991,212
CWD 94A B-3 1,811,481 6.7500 11,797 10,189 21,987 0 0 1,799,684
CWD 94C B-2 2,793,182 6.5000 11,280 15,130 26,409 0 0 2,781,902
CWD 94G B-1 4,233,016 6.5000 22,538 22,929 45,467 0 0.0 4,210,478
DLJ 9403 B-1 6,572,501 6.5000 9,111 35,601 44,712 0 0 6,563,390
FBCS 9302R 1 7,880,806 7.4250 37,904 48,762 86,666 0 0 7,842,903
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 7,240,702 6.5000 54,592 38,791 93,383 0 420 7,186,110
GECAP 9416 B-2 2,983,708 6.5000 10,468 16,094 26,562 0 68 2,973,240
GECAP 9427 B-2 2,184,012 6.5000 3,204 11,830 15,034 0 0 2,180,808
GECAP 9507 B-2 4,747,791 7.5000 4,863 29,674 34,537 0 0 4,742,928
GECAP 9615 B-1 3,043,242 7.7500 2,615 19,654 22,269 0 0 3,040,627
GECAP 9616 B-2 2,454,986 7.7500 2,095 15,855 17,949 0 .59 2,452,801
GECAP 9701 B-1 3,668,007 7.5000 11,078 22,925 34,003 0 0 3,656,929
GECAP 9702 1-B-2 4,398,442 7.5000 3,908 27,490 31,398 0 0 4,394,534
GECAP 9709 1-B-1 4,681,191 7.2500 3,903 28,282 32,185 0 0 4,677,287
GECAP 9709 1-B-2 3,695,496 7.2500 3,081 22,327 25,408 0 0 3,692,414
GECAP 9709 2-B-2 2,592,115 7.0000 2,180 15,121 17,301 0 0 2,589,935
GECAP 9712 B-1 6,048,194 7.0000 5,101 35,281 40,382 0 0 6,043,093
GECAP 9712 B-2 4,774,890 7.0000 4,027 27,854 31,881 0 0 4,770,863
HMSI 9705 B-2 4,879,930 7.2500 4,530 29,483 34,013 0 0 4,875,399
MORSRV 9602 B-1 1,947,640 7.2500 4,136 11,767 15,903 0 0 1,943,504
MSCAPI 9601 B-2 2,277,611 7.2500 2,380 13,761 16,140 0 0 2,275,231
NSCOR 9604 B-1 4,665,160 7.7500 4,459 30,129 34,588 0 0 4,660,702
NSCOR 9605 B-1 4,462,024 8.0000 3,739 29,746 33,485 0 0 4,458,285
PHMSC 93E 2-B 17,862,784 7.3942 244,529 109,680 354,209 0 389 17,618,255
PHMSC 93L 3-B-3 5,000,000 6.6412 0.0 27,671 27,671 0 .54 5,000,000
PHMSC 94A 5-B 19,516,779 6.8036 118,792 110,626 229,417 0 29 19,397,988
PHMSC 94E 2-B 31,345,946 7.3399 159,550 191,761 351,312 0 (30) 31,186,395
PHMSC 95A 3-B 6,184,092 8.6840 6,917 46,284 53,201 0 (1,532) 6,177,175
PNC 9502 B-3 2,595,992 7.5000 10,106 16,225 26,331 0 .01 2,285,886
PNC 9702 B-2 1,737,021 7.5000 1,549 10,856 12,405 0 0 1,735,473
PNC 9705 B-2 2,585,483 7.2500 2,122 15,619 17,741 0 (1) 2,583,362
PNC 9705 B-3 3,447,312 7.2500 2,829 20,826 23,655 0 (2) 3,444,483
PWMAC 9307 M-3 1,593,909 7.5000 11,395 9,962 21,357 0 0 1,582,514
PWMAC 9402 M-2 3,181,519 6.5000 20,203 17,233 37,436 0 0 3,161,317
PWMAC 9402 M-3 2,342,710 6.5000 14,876 12,690 27,566 0 0 2,327,833
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 4,411,735 7.2500 3,294 26,643 29,937 0 11 4,408,441
RAST 96A3 B-1-B 6,819,294 7.5000 5,831 42,144 47,976 0 476 6,813,463
RAST 96A4 B-2 4,951,031 7.5000 18,906 30,812 49,718 0 131 4,932,125
RFC 93S10 M-2 1,786,640 8.5000 1,750 12,171 13,921 0 485 1,784,890
RFC 93S18 M-2 5,759,128 7.5000 8,185 35,439 43,624 0 556 5,750,943
RFC 93S18 M-3 3,482,120 7.5000 4,949 21,427 26,376 0 336 3,477,171
RFC 93S21 M-3 2,488,889 7.5000 3,166 15,386 18,552 0 170 2,485,723
RFC 93S22 M-2 4,028,748 7.0000 5,662 23,230 28,892 0 271 4,023,086
RFC 93S22 M-3 2,428,512 7.0000 3,413 14,003 17,456 0 163 2,425,099
RFC 93S24 M-3 3,523,786 7.0000 5,009 20,327 25,336 0 228 3,518,777
RFC 93S26 M-2 5,241,176 7.5000 7,415 32,412 39,827 0 345 5,233,761
RFC 93S26 M-3 3,569,004 7.5000 5,049 22,071 27,121 0 235 3,563,955
RFC 93S27 M-3 1,936,523 7.5000 2,416 11,810 14,227 0 294 1,934,166
RFC 93S28 M-2 2,805,328 7.0000 34,592 16,162 50,755 0 202 2,770,736
RFC 93S28 M-3 1,871,093 7.0000 23,072 10,780 33,852 0 135 1,848,020
RFC 93S34 M-3 1,986,838 7.0000 2,718 11,527 14,245 0 63 1,984,120
RFC 94S3 M-3 1,400,354 6.7269 1,921 7,731 9,652 0 119 1,398,433
RFC 95R20 M-3 3,140,481 7.5000 3,608 19,620 23,228 0 8 3,136,873
RFC 96S10 M-2 6,485,783 7.5000 6,511 40,522 47,033 0 14 6,479,272
RFC 96S14 M-2 3,544,477 7.5000 4,403 22,144 26,547 0 9 3,540,073
RFC 96S14 M-3 1,772,238 7.5000 2,202 11,072 13,274 0 4 1,770,037
RFC 96S16 M-2 4,376,306 7.7500 3,672 27,902 31,574 0 362 4,372,634
RFC 96S18 M-2 2,603,227 8.0000 2,131 16,928 19,059 0 427 2,601,095
RFC 96S23 M-2 3,144,830 7.7500 2,555 19,640 22,195 469 670 3,142,274
RFC 96S25 M-2 3,113,549 7.7500 2,551 19,346 21,897 0 762 3,110,998
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 10,322 10,322 0 48 1,500,000
RYLPT 9304 B-2 4,594,975 7.5000 38,494 28,719 67,213 0 0 4,55569481
SASCO 9601 B-1 3,110,350 7.2500 3,212 18,792 22,004 0 0 3,107,138
SASCO 9601 B-2 1,599,691 7.2500 1,652 9,665 11,317 0 0 1,598,039
SASCO 9602 B-2 2,408,227 7.0000 0.00 14,048 14,048 0 0 2,408,227
SASI 9405 B-2 4,691,896 7.0000 43,143 27,369 70,513 0 0 4,648,753
SASI 9405 B-3 3,518,922 7.0000 32,357 20,527 52,884 0 0 3,486,565
SASI 9504 B-2 4,233,272 7.5000 4,233 26,458 30,691 0 0 4,229,039
SASI 93J 3-B 15,077,553 6.8080 91,555 85,495 177,049 0 45 14,985,998
SBMSI 92D B-4 4,029,952 8.0143 4,985 25,840 30,825 0 1,074 4,024,967
SBMSI 9409 B-2 4,023,495 7.0000 5,203 23,470 28,673 0 0 4,018,292
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