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): August 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 August 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.
(28.17) August 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: August 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
(28.17) August 1, 1999 - Information on Distribution to
Certificateholders
<PAGE>
<TABLE>
August 1, 1999 - INFORMATION ON DISTRIBUTION EXHIBIT 28.17
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 49,715,605 6.75% 1,261,374 279,650 1,541,024 0 0 48,454,231 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 58,104,808 6.75% 372,442 326,840 699,281 0 0 57,732,366 0
C 43,456,537 6.75% 278,549 244,443 522,992 0 0 43,177,988 0
D 70,555,838 6.75% 452,251 396,877 849,127 0 0 70,103,587 0
E 40,771,021 6.75% 261,335 229,337 490,672 0 0 40,509,686 0
F 50,536,534 6.75% 323,930 284,268 608,198 0 0 50,212,604 0
G 14,159,995 6.75% 90,763 79,650 170,413 0 0 14,069,232 0
H 15,625,079 6.75% 88,888 87,891 176,779 11,266 0 15,524,925 89.98
X 488,241,127 0.38% N/A 158,242 158,242 N/A 0 485,100,330 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 488,241,127 3,129,532 2,904,599 6,034,129 11,266 0 485,100,330 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 21.110857 4.680339 810.949496
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 6.065849 5.323142 940.270420
C 45,920,819 6.75 073914C35 6.065849 5.323142 940.270420
D 74,556,836 6.75 073914C43 6.065849 5.323142 940.270420
E 43,083,016 6.75 073914C50 6.065849 5.323142 940.270420
F 53,402,301 6.75 073914C68 6.065849 5.323142 940.270420
G 14,962,963 6.75 073914C76 6.065849 5.323142 940.270421
H 16,510,861 6.75 PRIVATE 5.383582 5.323227 940.285600
X 515,964,267 0.38 073914C84 0.000000 0.306692 940.182026
PO 2,008,801 N/A PRIVATE 0.000000 0.000000 276.446433
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 10,696,715 8.2182 446,753 72,178 518,931 0 1,079 10,249,962
BSMSI 9308 M 16,940,075 7.5000 74,666 105,875 180,541 0 0 16,865,409
CAPPTC 94C B-1 5,476,310 6.7500 35,869 30,804 66,674 0 00 5,440,440
CFC 9301 B-1 17,419,828 7.1250 107,331 103,430 210,761 0 0 17,312,497
CFC 9401 B-1 8,193,138 6.8750 34,007 46,940 80,947 0 0 8,159,131
CFC 9409 B-2 3,116,020 6.5000 19,462 16,878 36,340 0 0 3,096,558
CFC 9418 B-3 1,664,460 8.0000 2,209 11,096 13,306 0 0 1,662,251
CFC 9602 B-2 2,769,613 7.7500 2,597 17,887 20,484 0 0 2,767,016
CFC 9705 B-3 2,063,947 7.5000 3,923 12,900 16,823 0 0 2,060,024
CHASE 94E B-2 1,513,811 6.2500 15,981 7,884 23,866 0 0 1,497,830
CHEMPT 9601 B-3 2,322,575 7.2500 2,518 14,032 16,551 0 0 2,320,057
CITIMT 9016 B 3,927,794 9.5000 6,177 31,095 37,272 157 0 3,921,459
CITIMT 9205 B 9,133,047 8.0000 691,137 60,887 752,024 0 0 8,441,910
CITIMT 9219 B 9,109,558 7.5000 0 56,934 56,935 0 0 9,109,558
CITIMT 9401 B-1 9,821,852 6.5000 76,883 53,202 130,085 0 0 9,744,969
CITIMT 9405 B-1 15,342,055 6.2500 93,339 79,907 173,246 0 0 15,248,716
CITIMT 9407 B-1 9,138,655 6.2500 68,576 47,597 116,173 0 0 9,070,079
CITIMT 9410 B-1 8,548,563 6.2500 107,711 44,524 152,235 0 0 8,440,852
CITIMT 9411 B-1 14,509,193 6.2500 20,709 75,569 96,278 0 0 14,488,484
CITIMT 9413 B-2 1,159,571 6.5000 1,624 6,281 7,905 0 0 1,157,947
CITIMT 9502 B-3 1,259,921 7.5000 1,566 7,875 9,440 0 0 1,258,356
CITIMT 9601 B-1 2,441,844 7.5000 2,334 14,973 17,307 0 288 2,439,511
CITIMT 9703 B-1 1,984,988 7.2500 1,785 11,770 13,555 0 223 1,983,203
CITIMT 9703 B-2 1,984,988 7.2500 1,785 11,770 13,555 0 223 1,983,203
CITIMT 9707 B-1 1,991,212 7.0000 1,742 11,615 13,358 0 0.0 1,989,470
CWD 94A B-3 1,799,684 6.7500 8,085 10,123 18,208 0 0 1,791,599
CWD 94C B-2 2,781,902 6.5000 14,880 15,069 30,048 0 0 2,766,922
CWD 94G B-1 4,210,478 6.5000 19,970 22,807 42,777 0 0.0 4,190,508
DLJ 9403 B-1 6,563,390 6.5000 9,193 35,552 44,745 0 0 6,554,197
FBCS 9302R 1 7,842,903 7.4250 27,579 48,528 76,107 11,109 0 7,804,214
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 7,186,110 6.5000 54,880 38,473 93,353 0 452 7,131,230
GECAP 9416 B-2 2,972,885 6.5000 15,727 15,993 31,720 0 110 2,957,159
GECAP 9427 B-2 2,180,808 6.5000 3,241 11,813 15,054 0 0 2,177,567
GECAP 9507 B-2 4,742,928 7.5000 4,994 29,643 34,637 0 0 4,737,934
GECAP 9615 B-1 3,040,627 7.7500 11,420 19,637 31,057 0 0 3,029,207
GECAP 9616 B-2 2,452,801 7.7500 13,636 15,841 29,477 0 0 2,439,165
GECAP 9701 B-1 3,656,929 7.5000 3,242 22,856 26,097 0 0 3,653,687
GECAP 9702 1-B-2 4,394,534 7.5000 4,037 27,466 21,503 0 0 4,390,497
GECAP 9709 1-B-1 4,677,287 7.2500 4,000 28,259 32,258 0 0 4,673,288
GECAP 9709 1-B-2 3,692,414 7.2500 3,157 22,308 25,465 0 0 3,689,257
GECAP 9709 2-B-2 2,589,935 7.0000 2,235 15,108 17,343 0 0 2,587,700
GECAP 9712 B-1 6,043,093 7.0000 5,201 35,251 40,452 0 0 6,037,893
GECAP 9712 B-2 4,770,863 7.0000 4,106 27,830 31,936 0 0 4,766,757
HMSI 9705 B-2 4,875,399 7.2500 4,570 29,456 34,026 0 0 4,870,829
MORSRV 9602 B-1 1,943,504 7.2500 4,152 11,742 15,894 0 0 1,939,352
MSCAPI 9601 B-2 2,275,231 7.2500 2,407 13,746 16,153 0 0 2,272,824
NSCOR 9604 B-1 4,660,702 7.7500 4,460 30,100 34,560 0 0 4,656,242
NSCOR 9605 B-1 4,458,285 8.0000 3,802 29,722 33,524 0 0 4,454,483
PHMSC 93E 2-B 17,618,255 7.3942 306,628 108,349 414,978 0 212 17,311,627
PHMSC 93L 3-B-3 5,000,000 6.6412 0.0 27,671 27,671 0 .63 5,000,000
PHMSC 94A 5-B 19,397,988 6.8036 112,081 109,939 232,020 0 42 19,275,906
PHMSC 94E 2-B 31,186,395 7.3399 169,909 190,749 360,658 0 6 31,016,487
PHMSC 95A 3-B 6,177,175 8.6840 6,827 46,232 53,059 0 (1,530) 6,170,348
PNC 9502 B-3 2,585,886 7.5000 2,964 16,162 19,126 0 0 2,282,921
PNC 9702 B-2 1,735,473 7.5000 1,555 10,847 12,402 0 0 1,733,917
PNC 9705 B-2 2,583,362 7.2500 2,150 15,608 17,758 0 (.03) 2,581,211
PNC 9705 B-3 3,444,483 7.2500 2,867 20,810 23,678 0 (.04) 3,441,616
PWMAC 9307 M-3 1,582,514 7.5000 26,321 9,891 36,211 0 0 1,556,194
PWMAC 9402 M-2 3,161,317 6.5000 19,557 17,124 36,680 0 0 3,141,760
PWMAC 9402 M-3 2,327,833 6.5000 14,401 12,609 27,010 0 0 2,313,433
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 4,408,441 7.2500 3,318 26,593 29,911 0 41 4,405,123
RAST 96A3 B-1-B 6,813,463 7.5000 5,434 42,393 47,827 0 191 6,808,029
RAST 96A4 B-2 4,932,125 7.5000 14,343 30,684 45,027 0 142 4,917,781
RFC 93S10 M-2 1,784,890 8.5000 1,992 12,560 14,552 0 83 1,782,898
RFC 93S18 M-2 5,750,942 7.5000 8,260 35,022 43,283 0 921 5,742,682
RFC 93S18 M-3 3,477,171 7.5000 4,994 21,175 26,170 0 557 3,472,177
RFC 93S21 M-3 2,485,723 7.5000 3,204 15,204 18,409 0 332 2,482,518
RFC 93S22 M-2 4,023,086 7.0000 5,777 23,212 28,989 0 256 4,017,309
RFC 93S22 M-3 2,425,099 7.0000 3,482 13,992 17,475 0 154 2,421,617
RFC 93S24 M-3 3,518,777 7.0000 5,082 20,220 25,302 0 306 3,513,695
RFC 93S26 M-2 5,233,761 7.5000 7,376 32,070 39,446 0 641 5,226,385
RFC 93S26 M-3 3,563,955 7.5000 5,023 21,838 268611 0 436 3,558,932
RFC 93S27 M-3 1,934,166 7.5000 2,448 11,878 14,326 0 211 1,931,718
RFC 93S28 M-2 2,770,736 7.0000 27,458 15,969 43,427 0 194 2,743,278
RFC 93S28 M-3 1,848,020 7.0000 18,314 10,651 28,965 0 129 1,829,706
RFC 93S34 M-3 1,984,120 7.0000 2,725 11,405 14,130 0 170 1,981,394
RFC 94S3 M-3 1,398,433 6.7269 1,950 7,737 9,687 0 102 1,396,483
RFC 95R20 M-3 3,136,873 7.5000 3,659 19,590 23,249 0 16 3,133,214
RFC 96S10 M-2 6,479,272 7.5000 6,541 40,421 46,962 0 74 6,472,731
RFC 96S14 M-2 3,540,073 7.5000 4,460 22,112 26,572 0 13 3,535,613
RFC 96S14 M-3 1,770,037 7.5000 2,230 11,056 13,286 0 7 1,767,807
RFC 96S16 M-2 4,372,634 7.7500 3,737 28,205 31,942 0 35 4,368,897
RFC 96S18 M-2 2,601,095 8.0000 2,252 17,330 19,582 0 10 2,598,843
RFC 96S23 M-2 3,142,274 7.7500 2,691 20,234 22,925 469 60 3,139,583
RFC 96S25 M-2 3,110,998 7.7500 2,658 19,890 22,545 0 202 3,109,341
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 10,310 10,310 0 60 1,500,000
RYLPT 9304 B-2 4,556,481 7.5000 35,626 28,478 64,104 0 0 4,520,854
SASCO 9601 B-1 3,107,138 7.2500 3,242 18,772 22,014 0 0 3,103,896
SASCO 9601 B-2 1,598,039 7.2500 1,667 9,655 11,322 0 0 1,596,372
SASCO 9602 B-2 2,408,227 7.0000 0.00 14,048 14,048 0 0 2,408,227
SASI 9405 B-2 4,648,753 7.0000 28,338 27,118 55,455 0 0 4,620,415
SASI 9405 B-3 3,486,566 7.0000 21,253 20,338 41,592 0 0 3,465,312
SASI 9504 B-2 4,229,039 7.5000 4,343 26,431 30,775 0 0 4,224,696
SASI 93J 3-B 14,985,998 6.8080 107,494 84,971 192,465 0 49 14,878,505
SBMSI 92D B-4 4,024,967 8.0143 50,230 26,112 76,342 0 769 3,974,737
SBMSI 9409 B-2 4,018,292 7.0000 5,323 23,440 28,763 0 0 4,012,969
</TABLE>
