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): June 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 June 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.
(28.15) June 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: June 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
(28.15) June 1, 1999 - Information on Distribution to
Certificateholders
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<TABLE>
June 1, 1999 - INFORMATION ON DISTRIBUTION EXHIBIT 28.15
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 51,774,991 6.75% 1,020,852 291,234 1,312,087 0 0 50,754,139 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 58,718,327 6.75% 304,138 330,291 634,428 0 0 58,414,189 0
C 43,915,387 6.75% 227,464 247,024 474,489 0 0 43,687,923 0
D 71,300,826 6.75% 369,310 401,067 770,377 0 0 70,931,516 0
E 41,201,516 6.75% 213,408 231,759 445,166 0 0 40,988,108 0
F 51,070,142 6.75% 264,523 287,270 551,793 0 0 50,805,619 0
G 14,309,508 6.75% 74,118 80,491 154,609 0 0 14,235,390 0
H 15,790,050 6.75% 81,777 88,819 170,596 0 0 15,708,273 8
X 493,396,459 0.40% N/A 168,438 168,438 N/A 0 490,840,869 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 493,396,459 2,555,590 2,943,794 5,499,384 0.00 0 490,840,869 8
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 17.085395 4.874215 849.441650
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 4.953406 5.379348 951.375082
C 45,920,819 6.75 073914C35 4.953406 5.379348 951.375082
D 74,556,836 6.75 073914C43 4.953406 5.379348 951.375082
E 43,083,016 6.75 073914C50 4.953406 5.379348 951.375082
F 53,402,301 6.75 073914C68 4.953406 5.379348 951.375082
G 14,962,963 6.75 073914C76 4.953406 5.379348 951.375083
H 16,510,861 6.75 PRIVATE 4.952905 5.379431 951.390330
X 515,964,267 0.40 073914C84 0.000000 0.326453 951.307872
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 11,423,110 8.2182 371,686 77,898 449,584 0 334 11,051,424
BSMSI 9308 M 17,292,247 7.5000 141,775 108,077 249,852 0 0 17,150,472
CAPPTC 94C B-1 5,554,596 6.7500 38,275 31,245 69,520 0 00 5,516,321
CFC 9301 B-1 17,676,050 7.1250 137,505 104,952 242,456 0 0 17,538,545
CFC 9401 B-1 8,284,108 6.8750 47,053 47,461 94,515 0 0 8,237,055
CFC 9409 B-2 3,148,397 6.5000 16,875 17,054 33,929 0 0 3,131,522
CFC 9418 B-3 1,668,564 8.0000 1,981 11,124 13,105 0 0 1,666,582
CFC 9602 B-2 2,774,845 7.7500 2,624 17,921 20,545 0 0 2,772,221
CFC 9705 B-3 2,067,375 7.5000 1,693 12,921 14,614 0 0 2,065,682
CHASE 94E B-2 1,542,453 6.2500 17,079 8,034 25,113 0 0 1,525,374
CHEMPT 9601 B-3 2,327,524 7.2500 2,463 14,062 16,525 0 0 2,325,061
CITIMT 9016 B 4,046,923 9.5000 100,344 32,038 132,382 0 0 3,946,579
CITIMT 9205 B 9,516,504 8.0000 148,949 63,443 212,393 0 0 9,367,555
CITIMT 9219 B 9,109,558 7.5000 0 56,935 56,935 0 0 9,109,558
CITIMT 9401 B-1 9,974,915 6.5000 47,534 54,031 101,565 0 0 9,927,382
CITIMT 9405 B-1 15,563,144 6.2500 114,493 81,058 195,551 0 0 15,448,651
CITIMT 9407 B-1 9,293,575 6.2500 83,986 48,404 132,390 0 0 9,209,589
CITIMT 9410 B-1 8,571,346 6.2500 11,344 44,642 55,986 0 0 8,560,002
CITIMT 9411 B-1 14,550,162 6.2500 20,360 75,782 96,142 0 0 14,529,802
CITIMT 9413 B-2 1,162,748 6.5000 1,579 6,298 7,878 0 0 1,161,169
CITIMT 9502 B-3 1,262,999 7.5000 1,533 7,894 9,427 0 0 1,261,466
CITIMT 9601 B-1 2,446,439 7.5000 2,284 15,290 17,575 0 0 2,444,154
CITIMT 9703 B-1 1,988,500 7.2500 1,745 12,014 13,759 0 0 1,986,755
CITIMT 9703 B-2 1,988,500 7.2500 1,745 12,014 13,759 0 0 1,986,755
CITIMT 9707 B-1 1,994,659 7.0000 1,717 11,592 13,309 0 44 1,992,941
CWD 94A B-3 1,823,599 6.7500 12,118 10,258 22,375 0 0 1,811,481
CWD 94C B-2 2,816,728 6.5000 23,546 15,257 38,803 0 0 2,793,182
CWD 94G B-1 4,278,259 6.5000 45,243 23,145 68,388 0 29 4,233,016
DLJ 9403 B-1 6,581,513 6.5000 9,011 35,650 44,661 0 0 6,572,501
FBCS 9302R 1 7,919,084 7.4250 38,277 48,999 87,277 0 0 7,880,806
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 7,290,343 6.5000 49,642 39,221 88,863 0 268 7,240,702
GECAP 9416 B-2 2,987,908 6.5000 4,200 16,060 20,261 0 124 2,983,708
GECAP 9427 B-2 2,187,187 6.5000 3,175 11,847 15,022 0 0 2,184,012
GECAP 9507 B-2 4,773,019 7.5000 25,228 29,831 55,060 0 0 4,747,791
GECAP 9615 B-1 3,065,057 7.7500 21,815 19,795 41,610 0 0 3,043,242
GECAP 9616 B-2 2,456,979 7.7500 2,083 15,868 17,951 0 0 2,454,896
GECAP 9701 B-1 3,671,113 7.5000 3,106 22,944 26,050 0 0 3,668,007
GECAP 9702 1-B-2 4,407,606 7.5000 9,165 27,548 36,712 0 0 4,398,442
GECAP 9709 1-B-1 4,692,951 7.2500 11,760 28,353 40,114 0 0 4,681,191
GECAP 9709 1-B-2 3,704,780 7.2500 9,284 22,383 31,667 0 0 3,695,496
GECAP 9709 2-B-2 2,594,296 7.0000 2,181 15,113 17,314 0 0 2,592,115
GECAP 9712 B-1 6,053,237 7.0000 5,043 35,311 40,354 0 0 6,048,194
GECAP 9712 B-2 4,778,871 7.0000 3,982 27,877 31,858 0 0 4,774,890
HMSI 9705 B-2 4,884,383 7.2500 4,453 29,510 33,963 0 0 4,879,930
MORSRV 9602 B-1 1,951,731 7.2500 4,091 11,792 15,882 0 0 1,947,640
MSCAPI 9601 B-2 2,280,021 7.2500 2,410 13,775 16,185 0 0 2,277,611
NSCOR 9604 B-1 4,669,713 7.7500 4,553 30,159 34,712 0 0 4,665,160
NSCOR 9605 B-1 4,465,732 8.0000 3,709 29,772 33,480 0 0 4,462,024
PHMSC 93E 2-B 18,183,295 7.3942 320,511 111,484 431,995 0 559 17,862,784
PHMSC 93L 3-B-3 5,000,000 6.6412 0.0 27,672 27,612 0 .15 5,000,000
PHMSC 94A 5-B 19,661,113 6.8036 144,333 111,437 255,770 0 36 19,516,779
PHMSC 94E 2-B 31,430,338 7.3399 84,392 192,252 276,643 0 (4) 31,345,946
PHMSC 95A 3-B 6,190,688 8.6840 6,596 46,334 52,930 0 1,533) 6,184,092
PNC 9502 B-3 2,598,910 7.5000 2,918 16,243 19,161 0 0 2,595,992
PNC 9702 B-2 1,738,552 7.5000 1,530 10,866 12,396 0 0 1,737,021
PNC 9705 B-2 2,587,580 7.2500 2,096 15,634 17,731 0 (1) 2,585,483
PNC 9705 B-3 3,450,107 7.2500 2,795 20,846 23,641 0 (1) 3,447,312
PWMAC 9307 M-3 1,610,423 7.5000 16,514 10,065 26,579 0 0 1,593,909
PWMAC 9402 M-2 3,194,324 6.5000 12,804 17,303 30,107 0 0 3,181,519
PWMAC 9402 M-3 2,352,138 6.5000 9,429 12,741 22,169 0 0 2,342,710
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 4,414,967 7.2500 3,233 26,606 29,838 0 68 4,411,735
RAST 96A3 B-1-B 6,824,626 7.5000 5,331 42,543 47,874 0 111 6,819,294
RAST 96A4 B-2 4,955,234 7.5000 4,204 30,970 35,174 0 0 4,951,031
RFC 93S10 M-2 1,788,432 8.5000 1,792 24,211 26,003 0 (11,543) 1,786,640
RFC 93S18 M-2 5,777,509 7.5000 18,380 35,180 53,561 0 929 5,759,128
RFC 93S18 M-3 3,493,234 7.5000 11,113 21,271 32,384 0 562 3,482,120
RFC 93S21 M-3 2,491,972 7.5000 3,083 15,283 18,366 0 291 2,488,889
RFC 93S22 M-2 4,034,297 7.0000 5,549 23,146 28,695 0 388 4,028,748
RFC 93S22 M-3 2,431,857 7.0000 3,345 27,189 31,164 0 (13,633) 2,428,512
RFC 93S24 M-3 3,528,672 7.0000 4,886 20,143 25,029 0 441 3,523,786
RFC 93S26 M-2 5,248,501 7.5000 7,324 32,479 39,803 0 325 5,241,176
RFC 93S26 M-3 3,573,992 7.5000 4,987 22,116 27,104 0 221 3,569,004
RFC 93S27 M-3 1,938,890 7.5000 2,307 11,706 14,013 0 412 1,936,583
RFC 93S28 M-2 2,833,688 7.0000 28,360 16,210 44,570 0 320 2,805,328
RFC 93S28 M-3 1,890,008 7.0000 18,916 10,812 29,727 0 213 1,871,093
RFC 93S34 M-3 1,991,281 7.0000 4,443 11,327 15,769 0 289 1,986,838
RFC 94S3 M-3 1,402,257 6.7269 1,903 7,736 9,639 0 124 1,400,354
RFC 95R20 M-3 3,144,022 7.5000 3,541 19,643 23,184 0 7 3,140,481
RFC 96S10 M-2 6,492,159 7.5000 6,376 40,447 46,823 0 129 6,485,783
RFC 96S14 M-2 3,548,792 7.5000 4,315 22,164 26,479 0 16 3,544,477
RFC 96S14 M-3 1,774,396 7.5000 2,158 11,082 13,240 0 8 1,772,238
RFC 96S16 M-2 4,380,028 7.7500 3,722 28,106 31,828 0 182 4,376,306
RFC 96S18 M-2 2,605,429 8.0000 2,202 17,074 19,276 0 296 2,603,227
RFC 96S23 M-2 3,147,342 7.7500 2,513 19,934 22,447 469 392 3,144,830
RFC 96S25 M-2 3,116,098 7.7500 2,549 19,939 22,489 0 186 3,113,549
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 10,320 10,320 0 50 1,500,000
RYLPT 9304 B-2 4,634,258 7.5000 39,283 28,964 68,247 0 0 4,594,975
SASCO 9601 B-1 3,113,537 7.2500 3,187 18,811 21,998 0 0 3,110,350
SASCO 9601 B-2 1,601,331 7.2500 1,639 9,675 11,314 0 0 1,599,691
SASCO 9602 B-2 2,412,058 7.0000 3,831 14,070 17,902 0 0 2,408,227
SASI 9405 B-2 4,698,052 7.0000 6,156 27,405 33,561 0 0 4,691,896
SASI 9405 B-3 3,523,539 7.0000 4,617 20,554 25,171 0 0 3,518,922
SASI 9504 B-2 4,237,483 7.5000 4,211 26,484 30,695 0 0 4,233,272
SASI 93J 3-B 15,195,967 6.8080 118,415 86,171 204,586 0 41 15,077,552
SBMSI 92D B-4 4,034,969 8.0143 5,016 25,927 30,943 0 1,021 4,029,952
SBMSI 9409 B-2 4,028,702 7.0000 5,207 23,501 28,708 0 0 4,023,495
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