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 25, 1999
Structured Asset Mortgage Investments, Inc
Mortgage Pass-Through Certificates, Series 1998-3
(Exact name of registrant as specified in its charter)
Delaware 33-44658 13-3633241
(State or other juris- (Commission (IRS Employer
diction of incorporation) File Number) Identification No.)
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.)
Item 5. Other Events.
1.A distribution was made to the Certificateholders of the Structured Asset
Mortgage Investments, Inc. Mortgage Pass-Through Certificates, Series 1998-3, on
July 25, 1999. The distribution was made pursuant to the provisions of a
Pooling and Servicing Agreement dated February 25, 1998, between and among
Structured Asset Mortgage investments, Inc ., as Depositor, Countrywide Home
Loans,Inc. as Master Servicer, and The Bank of New York, as Trustee.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
28.17 July 25, 1999 - Information on Distribution to
Certificateholders
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: August 15, 1999 By: S\Samuel Molinaro
Samuel Molinaro
Treasurer and Secretary
Structured Asset Mortgage Investments, Inc.
FORM 8-K
CURRENT REPORT
Exhibit Index
Exhibit No. Description
(28.17) July 25, 1999 - Information on
Distribution to Certificateholders
<TABLE>
July 25, 1999 - INFORMATION ON DISTRIBUTION EXHIBIT 28.17
TO CERTIFICATEHOLDERS
Structured Asset Mortgage Investments, Inc.
Mortgage Pass-Through Certificates, Series 1998-3
<CAPTION>
Principal Amt
Original Outstanding Ending
Certificat Principal Prior to Interest Interest Interest Principal Principal Amount
Class Amount Distribution Rate Accrued Distributed Payable Outstanding
<S> <C> <C> <C> <C> <C> <C> <C>
A $332,071,600 $ 21,500,850 7.167% $ 130,064 $ 130,064 $1,400,028 20,100,822
R 100 0 7.167% 0 0 0 0
B-1 5,257,000 2,383,452 7.167% 14,418 14,418 66,242 2,317,210
B-2 13,142,815 5,958,773 7.167% 36,046 36,046 165,610 5,793,163
$350,471,515 29,843,075 $ 180,528 $ 180,528 $1,631,880 $ 28,211,195
</TABLE>
