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): November 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 November 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.
(28.20) November 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: November 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
(28.20) November 1, 1999 - Information on Distribution to
Certificateholders
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<TABLE>
November 1, 1999 - INFORMATION ON DISTRIBUTION EXHIBIT 28.20
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 46,370,590 6.75% 639,653 260,834 900,488 0 0 45,730,937 0
A-2 64,862,910 6.75% 343,136 364,854 707,989 0 0 64,519,774 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 57,114,737 6.75% 289,761 321,270 611,031 0 0 56,824,976 0
C 42,716,063 6.75% 216,712 240,278 456,990 0 0 42,499,351 0
D 69,353,609 6.75% 351,853 390,114 741,967 0 0 69,001,756 0
E 40,076,307 6.75% 203,320 225,429 428,749 0 0 39,872,987 0
F 49,675,422 6.75% 252,019 279,424 531,443 0 0 49,423,403 0
G 13,918,717 6.75% 70,614 78,293 148,907 0 0 13,848,103 0
H 15,358,837 6.75% 67,606 86,393 153,999 10,315 0 15,280,917 10,314.63
X 479,899,994 0.41% N/A 164,687 164,686 N/A 0 477,455,006 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 479,899,994 2,434,674 2,864,124 5,298,798 10,315 0 477,455,006 10,314.63
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 10.705491 4.365432 765.317329
A-2 64,862,910 6.75 073914F32 5.279017 5.613136 992.611906
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 4.719256 5.232438 925.492014
C 45,920,819 6.75 073914C35 4.719256 5.232438 925.492014
D 74,556,836 6.75 073914C43 4.719256 5.232438 925.492014
E 43,083,016 6.75 073914C50 4.719256 5.232438 925.492015
F 53,402,301 6.75 073914C68 4.719256 5.232438 925.492014
G 14,962,963 6.75 073914C76 4.719256 5.232438 925.492015
H 16,510,861 6.75 PRIVATE 4.094614 5.232523 925.506974
X 515,964,267 0.43 073914C84 0.000000 0.319182 925.364481
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 9,562,075 8.2182 88,089 65,295 153,384 0 191 9,473,986
BSMSI 9308 M 16,699,371 7.5000 52,068 104,371 156,439 0 0 16,647,303
CAPPTC 94C B-1 5,381,216 6.7500 27,590 30,269 57,859 0 0 5,353,627
CFC 9301 B-1 17,169,341 7.1250 99,297 101,943 201,240 0 0 17,070,045
CFC 9401 B-1 8,090,922 6.8750 42,571 46,354 88,925 0 0 8,048,351
CFC 9409 B-2 3,074,158 6.5000 9,773 16,652 26,424 0 0 3,064,386
CFC 9418 B-3 1,641,671 8.0000 10,847 10,944 21,791 0 0 1,630,825
CFC 9602 B-2 2,761,900 7.7500 2,669 17,837 20,506 0 0 2,759,231
CFC 9705 B-3 2,056,511 7.5000 1,778 12,853 14,631 0 0 2,054,733
CHASE 94E B-2 1,471,248 6.2500 0 0 0 0 7,663 1,471,248
CHEMPT 9601 B-3 2,314,953 7.2500 16,588 13,986 30,574 0 0 2,312,351
CITIMT 9016 B 3,814,715 9.5000 273,638 30,200 303,837 15 0 3,541,062
CITIMT 9205 B 8,133,851 8.0000 745,578 54,226 799,804 0 0 7,388,273
CITIMT 9219 B 9,109,558 7.5000 0 56,935 56,935 0 0 9,109,558
CITIMT 9401 B-1 9,647,552 6.5000 56,747 52,258 109,005 0 0 9,590,805
CITIMT 9405 B-1 15,053,588 6.2500 57,665 78,404 136,069 0 0 14,995,923
CITIMT 9407 B-1 8,947,675 6.2500 34,239 46,602 80,842 0 0 8,913,436
CITIMT 9410 B-1 8,370,259 6.2500 61,525 43,595 105,120 0 0 8,308,734
CITIMT 9411 B-1 14,404,676 6.2500 50,287 75,024 125,311 0 0 14,354,389
CITIMT 9413 B-2 1,154,631 6.5000 1,683 6,254 7,937 0 0 1,152,948
CITIMT 9502 B-3 1,255,157 7.5000 1,620 7,845 9,465 0 0 1,253,537
CITIMT 9601 B-1 2,434,820 7.5000 2,388 15,218 17,605 0 0 2,432,432
CITIMT 9703 B-1 1,979,536 7.2500 1,877 11,960 13,836 0 0 1,977,660
CITIMT 9703 B-2 1,979,536 7.2500 1,877 11,960 13,836 0 0 1,977,660
CITIMT 9707 B-1 1,985,932 7.0000 1,808 11,585 13,392 0 0 1,984,124
CWD 94A B-3 1,768,710 6.7500 11,797 9,949 21,746 0 0 1,756,913
CWD 94C B-2 2,740,283 6.5000 8,430 14,843 23,274 0 0 2,731,852
CWD 94G B-1 4,155,532 6.5000 20,735 22,509 43,244 0 0 4,134,797
DLJ 9403 B-1 6,535,609 6.5000 9,374 35,401 44,776 0 0 6,526,234
FBCS 9302R 1 7,727,921 7.4250 16,164 47,816 63,980 24,285 0 7,687,471
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 7,057,762 6.5000 25,060 38,075 63,138 0 152 7,032,702
GECAP 9416 B-2 2,933,570 6.5000 8,174 15,830 24,004 0 60 2,925,396
GECAP 9427 B-2 2,161,652 6.5000 6,910 11,709 18,619 0 0 2,154,741
GECAP 9507 B-2 4,703,258 7.5000 5,175 29,395 34,570 0 0 4,698,083
GECAP 9615 B-1 3,023,550 7.7500 2,873 19,527 22,400 0 0 3,020,677
GECAP 9616 B-2 2,434,675 7.7500 2,339 15,724 18,063 0 0 2,432,336
GECAP 9701 B-1 3,647,025 7.5000 3,328 22,794 26,122 0 0 3,643,697
GECAP 9702 1-B-2 4,373,115 7.5000 4,130 27,332 31,461 0 0 4,368,986
GECAP 9709 1-B-1 4,665,072 7.2500 4,197 28,185 32,382 0 0 4,660,875
GECAP 9709 1-B-2 3,682,771 7.2500 3,313 22,250 25,564 0 0 3,679,458
GECAP 9709 2-B-2 2,578,873 7.0000 2,305 15,043 17,349 0 0 2,576,568
GECAP 9712 B-1 6,027,242 7.0000 5,414 35,159 40,573 0 0 6,021,827
GECAP 9712 B-2 4,758,348 7.0000 4,274 27,757 32,031 0 0 4,754,073
HMSI 9705 B-2 4,858,317 7.2500 4,886 29,352 34,238 0 0 4,853,432
MORSRV 9602 B-1 1,930,894 7.2500 4,283 11,666 15,949 0 0 1,926,610
MSCAPI 9601 B-2 2,267,902 7.2500 2,502 13,702 16,204 0 0 2,265,400
NSCOR 9604 B-1 4,646,919 7.7500 4,837 30,011 34,849 0 0 4,642,082
NSCOR 9605 B-1 4,446,674 8.0000 3,981 29,644 33,625 0 0 4,442,693
PHMSC 93E 2-B 17,062,419 7.3942 107,958 105,024 212,982 0 113 16,954,462
PHMSC 93L 3-B-3 5,000,000 6.6412 0 27,670 27,670 0 1 5,000,000
PHMSC 94A 5-B 19,073,006 6.8036 71,274 108,083 179,357 0 55 19,001,732
PHMSC 94E 2-B 30,711,384 7.3399 104,837 187,875 292,712 0 (25) 30,606,547
PHMSC 95A 3-B 6,155,747 8.6840 7,380 46,071 53,451 0 (1,524) 6,148,367
PNC 9502 B-3 2,576,905 7.5000 3,012 16,106 19,117 0 0 2,573,894
PNC 9702 B-2 1,730,777 7.5000 1,592 10,817 12,409 0 0 1,729,185
PNC 9705 B-2 2,576,844 7.2500 2,224 15,568 17,792 0 0 2,574,620
PNC 9705 B-3 3,435,793 7.2500 2,965 20,758 23,723 0 0 3,432,827
PWMAC 9307 M-3 1,525,631 7.5000 2,679 9,535 12,214 0 0 1,522,952
PWMAC 9402 M-2 3,102,657 6.5000 13,824 16,806 30,630 0 0 3,088,833
PWMAC 9402 M-3 2,284,639 6.5000 10,179 12,375 22,554 0 0 2,274,460
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 4,398,298 7.2500 3,483 26,564 30,047 0 9 4,394,815
RAST 96A3 B-1-B 6,787,002 7.5000 5,821 42,419 48,240 0 0 6,781,181
RAST 96A4 B-2 4,888,354 7.5000 4,275 30,552 34,827 0 0 4,884,079
RFC 93S10 M-2 1,778,956 8.5000 2,023 12,576 14,599 0 25 1,776,933
RFC 93S18 M-2 5,726,050 7.5000 8,364 35,350 43,714 0 438 5,717,686
RFC 93S18 M-3 3,462,120 7.5000 5,057 21,373 26,431 0 265 3,457,063
RFC 93S21 M-3 2,475,902 7.5000 3,417 15,403 18,820 0 71 2,472,485
RFC 93S22 M-2 4,005,500 7.0000 6,001 23,322 29,323 0 44 3,999,499
RFC 93S22 M-3 2,414,498 7.0000 3,618 14,058 17,676 0 26 2,410,881
RFC 93S24 M-3 3,508,353 7.0000 5,156 20,244 25,401 0 192 3,498,196
RFC 93S26 M-2 5,211,338 7.5000 7,716 32,218 39,935 0 352 5,203,622
RFC 93S26 M-3 3,548,686 7.5000 5,254 21,939 27,194 0 240 3,543,431
RFC 93S27 M-3 1,926,717 7.5000 2,547 12,032 14,579 0 10 1,924,170
RFC 93S28 M-2 2,710,423 7.0000 23,055 15,562 38,617 0 249 2,687,367
RFC 93S28 M-3 1,807,793 7.0000 15,377 10,379 25,757 0 166 1,792,416
RFC 93S34 M-3 1,973,711 7.0000 2,847 11,402 14,249 0 111 1,970,863
RFC 94S3 M-3 1,392,529 6.7269 2,020 7,735 9,755 0 71 1,390,509
RFC 95R20 M-3 3,125,614 7.5000 3,804 19,530 23,334 0 5 3,121,810
RFC 96S10 M-2 6,459,256 7.5000 6,890 40,357 47,247 0 13 6,452,366
RFC 96S14 M-2 3,524,145 7.5000 4,645 22,018 26,664 0 7 3,519,499
RFC 96S14 M-3 1,762,073 7.5000 2,323 11,009 13,332 0 4 1,759,750
RFC 96S16 M-2 4,361,209 7.7500 19,032 28,163 47,195 0 3 4,342,177
RFC 96S18 M-2 2,594,262 8.0000 2,313 17,292 19,605 0 3 2,591,949
RFC 96S23 M-2 3,120,304 7.7500 2,862 20,145 23,006 0 7 3,117,443
RFC 96S25 M-2 3,099,731 7.7500 2,989 19,979 22,968 0 39 3,096,742
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 10,323 10,323 0 47 1,500,000
RYLPT 9304 B-2 4,476,927 7.5000 21,329 27,981 49,310 0 0 4,455,597
SASCO 9601 B-1 3,097,313 7.2500 3,344 18,713 22,057 0 0 3,093,969
SASCO 9601 B-2 1,592,986 7.2500 1,720 9,634 11,449 0 0 1,591,266
SASCO 9602 B-2 2,408,227 7.0000 0.00 14,048 14,048 0 0 2,408,227
SASI 9405 B-2 4,572,251 7.0000 21,048 26,671 47,720 0 0 4,551,203
SASI 9405 B-3 3,429,189 7.0000 15,786 20,004 35,790 0 0 3,413,402
SASI 9504 B-2 4,215,819 7.5000 4,617 26,349 30,966 0 0 4,211,202
SASI 93J 3-B 14,739,367 6.8080 50,686 83,564 134,250 0 57 14,688,681
SBMSI 92D B-4 2,920,905 8.0143 25,094 18,931 44,025 0 576 2,895,812
SBMSI 9409 B-2 4,001,887 7.0000 5,558 23,344 28,903 0 0 3,996,328
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