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): March 25, 1999
Structured Asset Mortgage Investments, Inc.
Mortgage Pass-Through certificates, Series 1999-1
(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 reort.
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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
1999-1, on March 25, 1999. The distribution was made pursuant to the
provisions of a Pooling and Servicing Agreement dated February 24, 1999,
between and among Structured Asset Mortgage Investments Inc. (formerly known as
Bear Stearns Mortgage Securities Inc.), as Depositor, Norwest Bank Minnesota,
National Association, as Master Services, and The First National Bank of
Chicago, as Trustee.
Item 7. Financial Statements and Exhibits.
c) Exhibits.
(28.1) March 25, 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 15, 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
(28.1) March 25, 1999 - Information on
Distribution to Certificateholders
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<TABLE>
March 25, 1999 - INFORMATION ON DISTRIBUTION EXHIBIT 28.1
TO CERTIFICATEHOLDERS
Structured Asset Mortgage Investments, Inc
Mortgage Pass-Through Certificates, Series 1999-1
<CAPTION>
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Principal Amt.
Outstanding Ending
Certificate Prior to Interest Interest Principal Total Certificate
Class Distribution Rate Distribution Distribution Distribution Balance
<S> <C> <C> <C> <C> <C> <C>
A $ 185,112,900 6.58426% $1,015,692.44 $ 57,896.62 $ 1,073,589.06 $ 185,055,003.38
R-1 50 6.58426% 0.27 50.00 50.27 0.00
B-1 1,908,000 6.58426% 10,468.97 0.13 10,469.10 1,907,999.87
B-2 954,000 6.58426% 5,234.48 0.06 5,234.54 953,999.94
B-3 954,000 6.58426% 5,234.48 0.06 5,234.54 953,999.94
B-4 954,000 6.58426% 5,234.48 0.06 5,234.54 953,999.94
B-5 477,000 6.58426% 2,617.24 0.03 2,617.27 476,999.97
B-6 478,659 6.58426% 2,626.34 0.03 2,626.37 478,658.97
2-A 96,507,800 8.99219% 723,180.56 3,370,770.17 4,093,950.73 93,137,029.83
R-II 100 8.99219% 0.75 100.00 100.75 0.00
2B1 1,777,700 8.99219% 13,321.48 4,190.23 17,511.41 1,773,509.77
2B2 1,117,500 8.99219% 8,373.98 2,634.07 11,008.05 1,114,865.93
2B3 711,100 8.99219% 5,328.62 1,676.14 7,004.76 709,423.86
2B4 558,700 8.99219% 4,186.61 1,316.92 5,503.53 557,383.08
2B5 406,400 8.99219% 3,045.36 957.93 4,003.29 405,442.07
2B6 507,965 8.99219% 3,806.43 1,197.33 5,003.76 506,767.52
R-III 50 6.58426% 0.27 50.00 50.27 0.00
$ 292,425,924 $ 1,808,352.46 $3,440,839.78 $ 5,249,192.24 $288,985,084.07
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