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): October 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.)
<PAGE>
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 October 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.
(28.19) October 1, 1999 - Information on Distribution to
Certificateholders.
<PAGE>
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: October 12, 1999 By: /S/Samuel Molinaro
Samuel Molinaro
Treasurer and Secretary
<PAGE>
STRUCTURED ASSET MORTGAGE INVESTMENTS, INC.
FORM 8-K
CURRENT REPORT
Exhibit Index
Exhibit No. Description
(28.19) October 1, 1999 - Information on Distribution to
Certificateholders
<PAGE>
<TABLE>
October 1, 1999 - INFORMATION ON DISTRIBUTION EXHIBIT 28.19
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 47,234,520 6.75% 863,930 265,694 1,129,624 0 0 46,370,590 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 57,369,355 6.75% 254,618 322,703 577,321 0 0 57,114,737 0
C 42,906,492 6.75% 190,429 241,349 431,778 0 0 42,716,063 0
D 69,662,789 6.75% 309,179 391,853 701,033 0 0 69,353,609 0
E 40,254,968 6.75% 178,661 226,434 405,095 0 0 40,076,307 0
F 49,896,876 6.75% 221,454 280,670 502,124 0 0 49,675,422 0
G 13,980,767 6.75% 62,050 78,642 140,692 0 0 13,918,717 0
H 15,427,307 6.75% 59,111 86,779 145,890 9,358 0 15,358,837 89.98
X 482,048,785 0.43% N/A 172,718 172,718 N/A 0 479,899,994 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 482,048,785 2,139,432 2,884,242 5,023,674 9,358 0 479,899,994 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 14.459076 4.446764 776.076820
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 4.146897 5.255765 930.211270
C 45,920,819 6.75 073914C35 4.146897 5.255765 930.211270
D 74,556,836 6.75 073914C43 4.146897 5.255765 930.211270
E 43,083,016 6.75 073914C50 4.146897 5.255765 930.211270
F 53,402,301 6.75 073914C68 4.146897 5.255765 930.211270
G 14,962,963 6.75 073914C76 4.146897 5.255765 930.211270
H 16,510,861 6.75 PRIVATE 3.580153 5.255850 930.211270
X 515,964,267 0.43 073914C84 0.000000 0.334747 930.211270
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 9,949,155 8.2182 387,080 67,656 454,737 0 481 9,562,075
BSMSI 9308 M 16,759,131 7.5000 59,759 104,744 164,504 0 0 16,699,371
CAPPTC 94C B-1 5,423,426 6.7500 42,210 30,507 72,716 0 0 5,381,216
CFC 9301 B-1 17,207,562 7.1250 38,220 102,170 140,390 0 0 17,169,341
CFC 9401 B-1 8,124,511 6.8750 33,589 46,547 80,135 0 0 8,090,922
CFC 9409 B-2 3,085,557 6.5000 11,399 16,713 28,112 0 0 3,074,158
CFC 9418 B-3 1,651,676 8.0000 10,008 11,011 21,019 0 0 1,641,671
CFC 9602 B-2 2,764,436 7.7500 2,536 17,854 20,390 0 0 2,761,900
CFC 9705 B-3 2,058,273 7.5000 1,762 12,865 14,627 0 0 2,056,511
CHASE 94E B-2 1,486,112 6.2500 14,864 7,740 22,604 0 0 1,471,248
CHEMPT 9601 B-3 2,317,518 7.2500 2,565 14,002 16,567 0 0 2,314,953
CITIMT 9016 B 3,904,699 9.5000 89,681 30,912 120,593 303 0 3,814,715
CITIMT 9205 B 8,369,519 8.0000 235,668 55,797 291,465 0 0 8,133,851
CITIMT 9219 B 9,109,558 7.5000 0 56,935 56,935 0 0 9,109,558
CITIMT 9401 B-1 9,697,000 6.5000 49,448 52,525 101,973 0 0 9,647,552
CITIMT 9405 B-1 15,119,495 6.2500 65,907 78,747 144,654 0 0 15,053,588
CITIMT 9407 B-1 8,994,770 6.2500 75,309 46,848 93,942 0 0 8,947,675
CITIMT 9410 B-1 8,407,284 6.2500 47,095 43,788 80,813 0 0 8,370,259
CITIMT 9411 B-1 14,467,446 6.2500 37,025 75,351 138,121 0 0 14,404,676
CITIMT 9413 B-2 1,156,305 6.5000 62,770 6,263 7,937 0 0 1,154,631
CITIMT 9502 B-3 1,256,767 7.5000 1,674 7,855 9,464 0 0 1,255,157
CITIMT 9601 B-1 2,437,179 7.5000 1,609 15,232 17,592 0 0 2,434,820
CITIMT 9703 B-1 1,981,390 7.2500 2,359 11,971 13,825 0 0 1,979,536
CITIMT 9703 B-2 1,981,390 7.2500 1,854 11,971 13,825 0 0 1,979,536
CITIMT 9707 B-1 1,987,714 7.0000 1,854 11,595 13,377 0 0 1,985,932
CWD 94A B-3 1,782,376 6.7500 13,666 10,026 23,692 0 0 1,768,710
CWD 94C B-2 2,751,021 6.5000 10,738 14,901 25,640 0 0 2,740,283
CWD 94G B-1 4,175,381 6.5000 19,848 22,617 42,465 0 0 4,155,532
DLJ 9403 B-1 6,544,930 6.5000 9,321 35,452 44,773 0 0 6,535,609
FBCS 9302R 1 7,766,577 7.4250 29,263 48,056 77,319 9,392 0 7,727,921
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 7,088,555 6.5000 30,792 38,203 68,996 0 193 7,057,762
GECAP 9416 B-2 2,941,159 6.5000 7,589 15,903 23,492 0 29 2,933,570
GECAP 9427 B-2 2,169,282 6.5000 7,630 11,750 19,380 0 0 2,161,652
GECAP 9507 B-2 4,708,376 7.5000 5,118 29,427 34,545 0 0 4,703,258
GECAP 9615 B-1 3,026,383 7.7500 2,833 19,545 22,378 0 0 3,023,550
GECAP 9616 B-2 2,436,958 7.7500 2,282 15,738 18,021 0 0 2,434,675
GECAP 9701 B-1 3,650,362 7.5000 3,337 22,815 26,152 0 0 3,647,025
GECAP 9702 1-B-2 4,377,194 7.5000 4,079 27,357 31,437 0 0 4,373,115
GECAP 9709 1-B-1 4,669,210 7.2500 4,138 28,210 32,347 0 0 4,665,072
GECAP 9709 1-B-2 3,686,038 7.2500 3,266 22,270 25,536 0 0 3,682,771
GECAP 9709 2-B-2 2,581,153 7.0000 2,280 15,057 17,337 0 0 2,578,873
GECAP 9712 B-1 6,032,613 7.0000 5,371 35,190 40,561 0 0 6,027,242
GECAP 9712 B-2 4,762,588 7.0000 4,240 27,782 32,022 0 0 4,758,348
HMSI 9705 B-2 4,862,753 7.2500 4,768 29,381 34,149 (333) (2) 4,858,317
MORSRV 9602 B-1 1,935,139 7.2500 4,246 11,691 15,937 0 0 1,930,894
MSCAPI 9601 B-2 2,270,381 7.2500 2,479 13,717 16,196 0 0 2,267,902
NSCOR 9604 B-1 4,651,650 7.7500 4,731 30,042 34,773 0 0 4,646,919
NSCOR 9605 B-1 4,450,628 8.0000 3,954 29,671 33,625 0 0 4,446,674
PHMSC 93E 2-B 17,175,202 7.3942 112,783 105,721 218,504 0 111 17,062,419
PHMSC 93L 3-B-3 5,000,000 6.6412 0 27,671 27,671 0 1 5,000,000
PHMSC 94A 5-B 19,164,765 6.8036 91,759 108,605 200,364 0 53 19,073,006
PHMSC 94E 2-B 30,853,439 7.3399 142,055 188,750 330,806 0 (31) 30,711,384
PHMSC 95A 3-B 6,162,959 8.6840 7,212 46,124 53,336 0 (1,525) 6,155,747
PNC 9502 B-3 2,579,937 7.5000 3,031 16,125 19,156 0 0 2,576,906
PNC 9702 B-2 1,732,354 7.5000 1,577 10,827 12,404 0 0 1,730,777
PNC 9705 B-2 2,579,037 7.2500 2,193 15,582 17,775 0 0 2,576,844
PNC 9705 B-3 3,438,717 7.2500 2,924 20,775 23,699 0 0 3,435,793
PWMAC 9307 M-3 1,543,747 7.5000 18,116 9,648 27,764 0 0 1,525,631
PWMAC 9402 M-2 3,123,736 6.5000 21,079 16,920 37,999 0 0 3,102,656
PWMAC 9402 M-3 2,300,161 6.5000 15,522 12,459 27,981 0 0 2,284,639
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 4,401,726 7.2500 3,428 26,583 30,011 0 11 4,398,298
RAST 96A3 B-1-B 6,792,661 7.5000 5,658 42,454 48,112 0 0 6,787,002
RAST 96A4 B-2 4,902,336 7.5000 13,982 30,534 44,516 0 105 4,888,354
RFC 93S10 M-2 1,780,833 8.5000 1,877 12,152 14,029 0 462 1,778,956
RFC 93S18 M-2 5,734,449 7.5000 8,399 35,416 43,815 0 424 5,726,050
RFC 93S18 M-3 3,467,199 7.5000 5,078 21,413 26,492 0 256 3,462,120
RFC 93S21 M-3 2,479,254 7.5000 3,352 15,352 18,704 0 143 2,475,902
RFC 93S22 M-2 4,011,419 7.0000 5,918 23,252 29,171 0 147 4,005,500
RFC 93S22 M-3 2,418,066 7.0000 3,568 14,016 17,584 0 89 2,414,498
RFC 93S24 M-3 3,508,524 7.0000 5,171 20,342 25,514 0 124 3,503,353
RFC 93S26 M-2 5,218,940 7.5000 7,602 32,301 39,904 0 317 5,211,338
RFC 93S26 M-3 3,553,863 7.5000 5,177 21,996 27,172 0 216 3,548,686
RFC 93S27 M-3 1,929,225 7.5000 2,508 11,912 14,420 0 146 1,926,717
RFC 93S28 M-2 2,720,232 7.0000 9,809 15,824 25,633 0 44 2,710,423
RFC 93S28 M-3 1,814,335 7.0000 6,542 10,554 17,096 0 29 1,807,793
RFC 93S34 M-3 1,976,533 7.0000 2,822 11,477 14,300 0 52 1,973,711
RFC 94S3 M-3 1,394,523 6.7269 1,994 7,720 9,715 0 97 1,392,529
RFC 95R20 M-3 3,129,493 7.5000 3,878 19,550 23,428 0 9 3,125,614
RFC 96S10 M-2 6,466,023 7.5000 6,767 40,384 47,151 0 29 6,459,256
RFC 96S14 M-2 3,531,068 7.5000 6,923 22,062 28,985 0 7 3,524,145
RFC 96S14 M-3 1,765,534 7.5000 3,461 11,031 14,492 0 4 1,762,073
RFC 96S16 M-2 4,365,092 7.7500 3,882 28,178 32,060 0 13 4,361,209
RFC 96S18 M-2 2,596,584 8.0000 2,322 17,300 19,622 0 10 2,594,262
RFC 96S23 M-2 3,136,827 7.7500 16,523 20,023 36,725 0 56 3,120,304
RFC 96S25 M-2 3,105,563 7.7500 5,832 20,046 25,879 0 10 3,099,731
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 4,490,129 7.5000 13,202 28,063 41,266 0 0 4,476,927
SASCO 9601 B-1 3,100,627 7.2500 3,314 18,733 22,047 0 0 3,097,313
SASCO 9601 B-2 1,594,691 7.2500 1,704 9,634 11,339 0 0 1,592,986
SASCO 9602 B-2 2,408,227 7.0000 0.00 14,048 14,048 0 0 2,408,227
SASI 9405 B-2 4,594,729 7.0000 22,478 26,802 49,280 0 0 4,572,251
SASI 9405 B-3 3,446,047 7.0000 16,858 20,102 36,960 0 0 3,429,189
SASI 9504 B-2 4,220,293 7.5000 4,473 26,377 30,850 0 0 4,215,819
SASI 93J 3-B 14,809,684 6.8080 70,318 83,967 154,285 0 53 14,739,367
SBMSI 92D B-4 3,973,020 8.0143 52,115 19,141 71,256 0 714 2,920,905
SBMSI 9409 B-2 4,007,447 7.0000 5,560 23,377 28,937 0 0 4,001,887
</TABLE>
