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): April 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 April 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.
(28.13) April 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: April 12, 1999 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
(28.13) April 1, 1999 - Information on Distribution to
Certificateholders
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<TABLE>
April 1, 1999 - INFORMATION ON DISTRIBUTION EXHIBIT 28.13
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 54,104,604 6.75% 1,198,451 304,338 1,502,789 0 0 52,906,152 0
A-2 64,862,910 6.75% 0 364,853 364,853 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 59,410,327 6.75% 354,998 334,183 689,181 0 0 59,055,328 0
C 44,432,934 6.75% 265,503 249,935 515,438 0 0 44,167,430 0
D 72,141,112 6.75% 431,069 405,793 836,863 0 0 71,710,042 0
E 41,687,078 6.75% 249,095 234,489 483,585 0 0 41,437,983 0
F 51,672,007 6.75% 308,759 290,655 599,414 0 0 51,363,248 0
G 14,478,146 6.75% 86,512 81,439 167,951 0 0 14,391,634 0
H 15,976,129 6.75% 88,612 89,865 178,478 6,851 0 15,880,665 6,851
X 499,218,052 0.42% N/A 176,031 176,031 N/A 0 499,228,198 N/A
PO 555,325 N/A 0 0.00 0 N/A 0 555,325 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 499,218,052 2,983,003 2,984,133 5,967,136 0.00 0 496,228,198 6,851
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 20.100160 5.104295 887.330063
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 5.781763 5.442744 961.817139
C 45,920,819 6.75 073914C35 5.781763 5.442744 961.817139
D 74,556,836 6.75 073914C43 5.781763 5.442744 961.817139
E 43,083,016 6.75 073914C50 5.781763 5.442744 961.817139
F 53,402,301 6.75 073914C68 5.781763 5.442744 961.817139
G 14,962,963 6.75 073914C76 5.781763 5.442744 961.817139
H 16,510,861 6.75 PRIVATE 5.366910 5.442744 961.817139
X 515,964,267 0.46 073914C84 0.000000 0.341171 961.817139
PO 2,008,801 N/A PRIVATE 0.000000 0.000000 276.446454
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 13,223,112 8.2182 1,227,892 88,905 1,316,797 0 1,653 11,995,219
BSMSI 9308 M 17,724,494 7.5000 236,475 110,778 347,253 0 0 17,488,019
CAPPTC 94C B-1 5,639,757 6.7500 31,187 31,723 62,911 0 0 5,608,569
CFC 9301 B-1 18,063,409 7.1250 155,154 107,251 262,406 0 0 17,908,254
CFC 9401 B-1 8,390,606 6.8750 46,629 48,071 94,700 0 0 8,343,976
CFC 9409 B-2 3,173,641 6.5000 4,221 17,190 21,411 0 0 3,169,420
CFC 9418 B-3 1,672,479 8.0000 1,959 11,149 13,109 0 0 1,670,520
CFC 9602 B-2 2,779,932 7.7500 2,512 17,953 20,466 0 0 2,777,420
CFC 9705 B-3 2,071,465 7.5000 1,649 12,946 14,596 0 0 2,069,816
CHASE 94E B-2 1,560,900 6.2500 9,271 8,129 17,400 0 0 1,551,629
CHEMPT 9601 B-3 2,332,386 7.2500 2,416 14,091 16,507 0 0 2,329,970
CITIMT 9016 B 4,136,919 9.5000 18,600 32,750 51,351 0 0 4,118,318
CITIMT 9205 B 9,516,503 8.0000 0 63,443 63,443 0 0 9,516,504
CITIMT 9219 B 9,109,558 7.5000 0 56,934 56,935 0 0 9,109,558
CITIMT 9401 B-1 10,131,837 6.5000 61,134 54,880 116,015 0 0 10,070,703
CITIMT 9405 B-1 15,682,560 6.2500 25,789 81,680 107,469 0 0 15,656,770
CITIMT 9407 B-1 9,320,508 6.2500 13,461 48,544 62,006 0 0 9,307,046
CITIMT 9410 B-1 8,593,744 6.2500 11,136 44,759 55,895 0 0 8,582,608
CITIMT 9411 B-1 14,590,289 6.2500 19,869 75,863 95,732 0 128 14,570,420
CITIMT 9413 B-2 1,165,858 6.5000 1,542 6,315 7,857 0 0 1,164,316
CITIMT 9502 B-3 1,266,010 7.5000 1,491 7,912 9,404 0 0 1,264,518
CITIMT 9601 B-1 2,450,896 7.5000 2,202 15,092 17,294 0 225 2,448,693
CITIMT 9703 B-1 1,991,926 7.2500 1,704 11,660 13,364 0 373 1,990,222
CITIMT 9703 B-2 1,991,926 7.2500 1,704 11,660 13,364 0 373 1,990,222
CITIMT 9707 B-1 1,998,054 7.0000 1,694 11,406 13,100 0 0 1,996,360
CWD 94A B-3 1,858,259 6.7500 13,402 14,452 23,854 0 0 1,844,857
CWD 94C B-2 2,871,447 6.5000 28,713 15,553 44,267 0 0 2,842,734
CWD 94G B-1 4,337,095 6.5000 5,155 23,492 28,647 0 0 4,331,940
DLJ 9403 B-1 6,606,188 6.5000 8,889 35,746 44,635 6,848 37 6,590,449
FBCS 9302R 1 7,998,297 7.4250 41,587 49,489 91,076 0 0 7,956,710
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 7,413,431 6.5000 43,060 39,834 82,895 0 322 7,370,370
GECAP 9416 B-2 3,000,892 6.5000 4,136 16,149 20,286 0 104 2,996,755
GECAP 9427 B-2 2,193,440 6.5000 3,108 11,881 14,989 0 0 2,190,332
GECAP 9507 B-2 4,782,339 7.5000 4,609 29,889 34,498 0 0 4,777,730
GECAP 9615 B-1 3,070,097 7.7500 2,490 19,827 22,318 0 0 3,067,606
GECAP 9616 B-2 2,460,826 7.7500 1,894 15,874 17,769 0 18 2,458,931
GECAP 9701 B-1 3,677,242 7.5000 3,058 22,982 26,041 0 0 3,674,184
GECAP 9702 1-B-2 4,415,102 7.5000 3,703 27,594 31,297 0 0 4,411,398
GECAP 9709 1-B-1 4,700,455 7.2500 3,684 28,398 32,082 0 0 4,696,771
GECAP 9709 1-B-2 3,710,704 7.2500 2,908 22,418 25,327 0 0 3,707,795
GECAP 9709 2-B-2 2,598,501 7.0000 2,088 15,157 17,246 0 0 2,596,413
GECAP 9712 B-1 6,063,062 7.0000 4,912 35,367 40,280 0 0 6,058,150
GECAP 9712 B-2 4,786,628 7.0000 3,878 27,922 31,800 0 0 4,782,750
HMSI 9705 B-2 4,893,067 7.2500 4,312 29,562 33,874 0 0 4,888,755
MORSRV 9602 B-1 1,960,032 7.2500 4,187 11,841 16,029 0 0 1,955,845
MSCAPI 9601 B-2 2,284,797 7.2500 2,371 13,803 16,175 0 0 2,282,425
NSCOR 9604 B-1 4,678,397 7.7500 4,335 30,214 34,550 0 0 4,674,062
NSCOR 9605 B-1 4,472,870 8.0000 3,520 29,750 33,270 0 69 4,469,350
PHMSC 93E 2-B 18,798,695 7.3942 294,309 115,168 409,477 0 666 18,504,386
PHMSC 93L 3-B-3 5,000,000 6.6412 0 27,671 27,671 0 0 5,000,000
PHMSC 94A 5-B 19,955,381 6.8032 120,094 113,149 233,243 0 (15) 19,835,287
PHMSC 94E 2-B 31,460,755 7.3399 15,016 192,337 207,353 0 96 31,445,739
PHMSC 95A 3-B 6,203,740 8.6840 6,346 46,431 52,778 0 (1,537) 6,197,393
PNC 9502 B-3 2,604,790 7.5000 2,925 16,279 19,205 0 0 2,601,865
PNC 9702 B-2 1,741,585 7.5000 1,518 10,874 12,405 0 (2) 1,740,067
PNC 9705 B-2 2,591,718 7.2500 2,065 15,658 17,723 0 0 2,589,653
PNC 9705 B-3 3,455,625 7.2500 2,753 20,877 23,631 0 0 3,452,871
PWMAC 9307 M-3 1,678,476 7.5000 31,923 10,490 42,414 0 0 1,646,552
PWMAC 9402 M-2 3,246,942 6.5000 4,588 17,587 22,175 0 0 3,242,354
PWMAC 9402 M-3 2,390,883 6.5000 3,378 12,950 16,329 0 0 2,287,505
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 4,423,584 7.2500 5,426 26,536 31,962 0 189 4,418,157
RAST 96A3 B-1-B 6,834,124 7.5000 5,241 42,329 47,571 0 383 6,828,882
RAST 96A4 B-2 4,978,211 7.5000 12,572 30,581 43,153 0 532 4,965,639
RFC 93S10 M-2 1,790,187 8.5000 1,755 12,359 14,114 0 321 1,788,432
RFC 93S18 M-2 5,792,997 7.5000 7,705 35,167 42,873 0 1,038 5,785,291
RFC 93S18 M-3 3,502,598 7.5000 4,659 21,263 25,922 0 627 3,497,939
RFC 93S21 M-3 2,498,010 7.5000 3,004 15,143 18,147 0 469 2,495,006
RFC 93S22 M-2 4,044,586 7.0000 5,468 23,093 28,562 0 499 4,039,118
RFC 93S22 M-3 2,435,149 7.0000 3,292 13,904 17,196 0 300 2,431,856
RFC 93S24 M-3 3,538,414 7.0000 4,834 25,675 30,509 0 (5,035) 3,533,579
RFC 93S26 M-2 5,262,280 7.5000 6,862 31,662 38,524 0 1,226 5,255,418
RFC 93S26 M-3 3,583,374 7.5000 4,672 21,560 26,233 0 835 3,578,702
RFC 93S27 M-3 1,943,612 7.5000 2,347 11,878 14,226 0 269 1,941,264
RFC 93S28 M-2 2,888,007 7.0000 29,669 16,554 46,223 0 292 2,858,338
RFC 93S28 M-3 1,926,237 7.0000 19,788 11,041 30,830 0 194 1,906,449
RFC 93S34 M-3 1,996,565 7.0000 2,643 11,456 14,100 0 189 1,993,921
RFC 94S3 M-3 1,406,038 6.7269 1,890 7,815 9,705 0 66 1,404,148
RFC 95R20 M-3 3,150,948 7.5000 3,442 19,689 23,131 0 4 3,147,506
RFC 96S10 M-2 6,504,414 7.5000 6,141 40,122 46,263 0 530 6,498,272
RFC 96S14 M-2 3,557,220 7.5000 4,178 22,120 26,299 0 112 3,553,043
RFC 96S14 M-3 1,778,611 7.5000 2,089 11,060 13,149 0 56 1,776,521
RFC 96S16 M-2 4,399,823 7.7500 16,167 27,654 43,821 0 761 4,383,656
RFC 96S18 M-2 2,609,609 8.0000 2,098 17,065 19,164 0 331 2,607,511
RFC 96S23 M-2 3,160,555 7.7500 2,447 19,711 22,158 0 700 3,158,108
RFC 96S25 M-2 3,121,107 7.7500 2,508 19,570 22,078 0 587 3,118,596
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 10,318 10,319 0 51 1,500,000
RYLPT 9304 B-2 4,771,920 7.5000 70,584 29,824 100,408 0 0 4,701,336
SASCO 9601 B-1 3,119,848 7.2500 3,149 18,849 21,998 0 0 3,116,698
SASCO 9601 B-2 1,604,576 7.2500 1,619 9,694 11,314 0 0 1,602,956
SASCO 9602 B-2 2,418,611 7.0000 3,259 14,108 17,367 0 0 2,415,352
SASI 9405 B-2 4,710,157 7.0000 6,005 27,475 33,481 0 0 4,704,151
SASI 9405 B-3 3,532,618 7.0000 4,504 20,606 25,110 0 0 3,528,114
SASI 9504 B-2 4,245,575 7.5000 3,992 26,534 30,527 0 0 4,241,583
SASI 93J 3-B 15,536,136 6.8080 154,369 88,114 242,483 0 27 15,381,767
SBMSI 92D B-4 4,045,078 8.0143 5,038 26,223 31,262 0 791 4,040,039
SBMSI 9409 B-2 4,038,655 7.0000 4,956 23,558 28,515 0 0 4,033,698
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