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): February 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 February 1, 1999. The distribution was made
pursuant to the provisions of a Polling and Servicing Agreement dated
February 25, 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.
(28.11) February 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: February 12, 1999 By: /S/William J. Montgoris
William J. Montgoris
Treasurer and Secretary
<PAGE>
STRUCTURED ASSET MORTGAGE INVESTMENTS, INC.
FORM 8-K
CURRENT REPORT
Exhibit Index
Exhibit No. Description
(28.11) January 1, 1999 - Information on Distribution to
Certificateholders
<PAGE>
<TABLE>
February 1, 1999 - INFORMATION ON DISTRIBUTION EXHIBIT 28.11
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 55,933,767 6.75% 966,125 314,627 1,280,752 0 0 54,967,642 0
A-2 64,862,910 6.75% 0 364,853 364,853 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 59,955,263 6.75% 287,823 337,248 625,071 0 0 59,667,439 0
C 44,840,490 6.75% 215,262 252,227 467,490 0 0 44,625,227 0
D 72,802,819 6.75% 349,499 409,515 759,015 0 0 72,453,320 0
E 42,069,449 6.75% 201,960 236,640 438,600 0 0 41,867,489 0
F 52,145,964 6.75% 250,333 293,321 543,654 0 0 51,895,630 0
G 14,610,945 6.75% 70,141 82,186 152,328 0 0 14,540,804 0
H 16,122,429 6.75% 60,467 90,688 151,155 0 0 16,045,258 16,930
X 503,796,842 0.36% N/A 151,987 151,987 N/A 0 501,378,524 N/A
PO 573,465 N/A 0.00 0.00 0.00 N/A 0 573,465 N/A
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 503,796,842 2,401,614 2,985,844 5,387,458 0.00 0 501,378,524 16,930
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 16.203637 5.276861 921.904899
A-2 64,862,910 6.75 073914F32 0.000000 5.625000 1,000.000000
A-3 45,526,720 6.75 073914F40 0.000000 5.625000 1,000.000000
A-4 24,947,273 6.75 073914F57 0.000000 5.625000 1,000.000000
A-5 9,978,809 6.75 073914F65 0.000000 5.625000 1,000.000000
B 61,399,747 6.75 073914C27 4.687696 5.492667 971.786411
C 45,920,819 6.75 073914C35 4.687696 5.492667 971.786411
D 74,556,836 6.75 073914C43 4.687696 5.492667 971.786411
E 43,083,016 6.75 073914C50 4.687696 5.492667 971.786411
F 53,402,301 6.75 073914C68 4.687696 5.492667 971.786411
G 14,962,963 6.75 073914C76 4.687696 5.492667 971.786411
H 16,510,861 6.75 PRIVATE 3.662266 5.492667 971.800238
X 515,964,267 0.36 073914C84 0.000000 0.294570 971.731099
PO 2,008,801 N/A PRIVATE 0.000000 0.000000 285.476711
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 14,335,692 8.2182 664,726 96,261 760,987 0 1,917 13,670,965
BSMSI 9308 M 18,256,950 7.5000 335,354 114,105 449,460 0 0 17,921,595
CAPPTC 94C B-1 5,657,430 6.7500 8,831 31,823 40,654 0 4 5,648,599
CFC 9301 B-1 18,407,696 7.1250 179,662 109,295 288,958 0 0 18,228,033
CFC 9401 B-1 8,460,708 6.8750 11,433 48,472 59,906 0 0 8,449,274
CFC 9409 B-2 3,181,940 6.5000 4,112 17,235 21,347 0 0 3,117,827
CFC 9418 B-3 1,676,277 8.0000 1,849 11,175 13,024 0 0 1,674,427
CFC 9602 B-2 2,784,888 7.7500 2,427 17,985 20,412 0 0 2,782,461
CFC 9705 B-3 2,074,944 7.5000 1,607 12,968 14,576 0 0 2,073,337
CHASE 94E B-2 1,579,039 6.2500 9,033 8,224 17,257 0 0 1,570,006
CHEMPT 9601 B-3 2,337,134 7.2500 2,355 14,120 16,475 0 0 2,334,779
CITIMT 9016 B 4,329,857 9.5000 86,506 34,278 120,784 16,704 0 4,226,647
CITIMT 9205 B 9,516,503 8.0000 0 63,443 63,443 0 0 9,516,504
CITIMT 9219 B 9,109,558 7.5000 0 56,934 56,935 0 0 9,109,558
CITIMT 9401 B-1 10,242,911 6.5000 16,090 55,482 71,573 0 0 10,226,820
CITIMT 9405 B-1 15,733,383 6.2500 25,297 81,944 107,242 0 0 15,708,085
CITIMT 9407 B-1 9,346,987 6.2500 13,157 48,682 61,839 0 0 9,333,830
CITIMT 9410 B-1 8,615,731 6.2500 10,937 44,873 55,811 0 0 8,604,793
CITIMT 9411 B-1 14,629,239 6.2500 19,363 76,193 95,557 0 0 14,609,875
CITIMT 9413 B-2 1,168,907 6.5000 1,517 6,331 7,849 0 0 1,167,389
CITIMT 9502 B-3 1,268,948 7.5000 1,460 7,930 9,391 0 0 1,267,488
CITIMT 9601 B-1 2,455,223 7.5000 2,148 14,951 17,100 0 393 2,453,075
CITIMT 9703 B-1 1,995,261 7.2500 1,657 11,833 13,490 0 221 1,993,604
CITIMT 9703 B-2 1,995,261 7.2500 1,657 11,833 13,490 0 221 1,993,604
CITIMT 9707 B-1 2,001,398 7.0000 1,664 11,571 13,235 0 103 1,999,734
CWD 94A B-3 1,869,659 6.7500 2,441 10,499 12,940 0 17 1,867,217
CWD 94C B-2 2,878,894 6.5000 3,711 15,594 19,305 0 0 2,875,183
CWD 94G B-1 4,347,194 6.5000 5,075 23,547 28,622 0 0 4,342,119
DLJ 9403 B-1 6,616,924 6.5000 8,763 35,841 44,604 0 0 6,608,161
FBCS 9302R 1 8,081,152 7.4250 41,254 50,002 91,256 0 0 8,039,898
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 7,469,130 6.5000 10,113 39,917 50,031 0 540 7,459,017
GECAP 9416 B-2 3,009,056 6.5000 4,054 16,174 20,229 0 124 3,005,001
GECAP 9427 B-2 2,199,594 6.5000 3,092 11,914 15,006 0 0 2,196,501
GECAP 9507 B-2 4,827,300 7.5000 40,309 30,170 70,480 0 0 4,786,989
GECAP 9615 B-1 3,075,111 7.7500 2,522 19,860 22,382 0 0 3,072,589
GECAP 9616 B-2 2,464,612 7.7500 1,928 15,917 17,845 0 0 2,462,684
GECAP 9701 B-1 3,683,262 7.5000 3,025 23,020 26,045 0 0 3,680,236
GECAP 9702 1-B-2 4,422,449 7.5000 3,639 27,640 31,279 0 0 4,418,809
GECAP 9709 1-B-1 4,712,202 7.2500 3,619 28,469 32,089 0 0 4,708,582
GECAP 9709 1-B-2 3,719,977 7.2500 2,857 22,474 25,332 0 0 3,717,119
GECAP 9709 2-B-2 2,602,670 7.0000 2,087 15,182 17,269 0 0 2,600,582
GECAP 9712 B-1 6,072,653 7.0000 4,748 35,423 40,172 0 0 6,067,905
GECAP 9712 B-2 4,794,199 7.0000 3,749 27,966 31,715 0 0 4,790,450
HMSI 9705 B-2 4,901,482 7.2500 4,144 29,613 33,757 0 0 4,897,337
MORSRV 9602 B-1 1,968,150 7.2500 4,064 11,890 15,955 0 0 1,964,086
MSCAPI 9601 B-2 2,289,473 7.2500 2,333 13,832 16,165 0 0 2,287,140
NSCOR 9604 B-1 4,686,915 7.7500 4,157 30,217 34,374 0 52 4,682,758
NSCOR 9605 B-1 4,479,687 8.0000 3,277 29,261 32,538 0 603 4,476,410
PHMSC 93E 2-B 19,438,886 7.3942 320,613 119,226 439,839 0 554 19,118,272
PHMSC 93L 3-B-3 5,000,000 6.6412 0 27,671 27,671 0 0 5,000,000
PHMSC 94A 5-B 20,097,309 6.8032 56,197 113,935 170,132 0 3 20,041,111
PHMSC 94E 2-B 31,484,371 7.3399 11,169 192,510 203,680 0 67 31,473,201
PHMSC 95A 3-B 6,216,315 8.6840 6,254 46,524 52,778 0 (1,538) 6,210,060
PNC 9502 B-3 2,610,535 7.5000 2,840 16,315 19,155 0 0 2,607,695
PNC 9702 B-2 1,744,567 7.5000 1,483 10,903 12,387 0 0 1,743,083
PNC 9705 B-2 2,595,775 7.2500 2,006 15,682 17,688 0 0 2,593,769
PNC 9705 B-3 3,461,034 7.2500 2,674 20,910 23,585 0 (1) 3,458,359
PWMAC 9307 M-3 1,718,579 7.5000 23,140 10,741 33,881 0 0 1,695,438
PWMAC 9402 M-2 3,255,968 6.5000 4,486 17,636 22,122 0 0 3,251,482
PWMAC 9402 M-3 2,397,529 6.5000 3,303 12,986 16,289 0 0 2,394,226
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 4,429,852 7.2500 3,088 26,547 29,635 0 216 4,426,763
RAST 96A3 B-1-B 6,844,652 7.5000 10,107 42,692 52,800 0 86 6,834,544
RAST 96A4 B-2 4,990,839 7.5000 8,716 30,787 39,504 0 404 4,982,122
RFC 93S10 M-2 1,793,771 8.5000 1,735 11,945 13,680 0 760 1,792,036
RFC 93S18 M-2 5,808,129 7.5000 7,409 35,168 42,577 0 1,132 5,800,719
RFC 93S18 M-3 3,511,747 7.5000 4,480 21,163 25,743 0 684 3,507,267
RFC 93S21 M-3 2,504,246 7.5000 3,063 15,138 18,201 0 513 2,501,183
RFC 93S22 M-2 4,055,476 7.0000 5,397 23,263 28,661 0 393 4,050,079
RFC 93S22 M-3 2,441,705 7.0000 3,249 14,006 17,256 0 236 2,438,456
RFC 93S24 M-3 3,538,413 7.0000 0 0 0 0 20,640 3,538,414
RFC 93S26 M-2 5,275,697 7.5000 6,636 31,733 38,269 0 1,239 5,269,160
RFC 93S26 M-3 3,592,511 7.5000 4,450 21,609 26,059 0 844 3,588,060
RFC 93S27 M-3 1,948,305 7.5000 2,309 11,738 14,048 0 437 1,945,996
RFC 93S28 M-2 2,944,201 7.0000 33,112 16,883 49,996 0 290 2,911,088
RFC 93S28 M-3 1,963,717 7.0000 22,085 11,261 33,346 0 193 1,941,632
RFC 93S34 M-3 2,001,819 7.0000 2,611 11,584 14,196 0 92 1,999,207
RFC 94S3 M-3 1,409,734 6.7269 1,840 7,759 9,599 0 143 1,407,893
RFC 95R20 M-3 3,157,676 7.5000 3,284 19,702 22,986 0 33 3,154,392
RFC 96S10 M-2 6,516,429 7.5000 5,836 39,964 45,801 0 763 6,510,592
RFC 96S14 M-2 3,565,317 7.5000 4,025 22,274 26,299 0 9 3,561,292
RFC 96S14 M-3 1,782,658 7.5000 2,013 11,137 13,149 0 4 1,780,646
RFC 96S16 M-2 4,419,183 7.7500 15,810 28,005 43,815 0 535 4,403,372
RFC 96S18 M-2 2,613,632 8.0000 1,903 16,578 18,482 0 845 2,631,729
RFC 96S23 M-2 3,172,911 7.7500 2,389 19,832 22,221 0 659 3,170,522
RFC 96S25 M-2 3,125,942 7.7500 2,391 19,658 22,049 0 530 3,125,942
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 10,319 0 50 1,500,000
RYLPT 9304 B-2 4,911,451 7.5000 58,965 30,696 89,662 0 0 4,852,485
SASCO 9601 B-1 3,126,085 7.2500 3,122 18,886 22,009 0 0 3,122,963
SASCO 9601 B-2 1,607,784 7.2500 1,605 9,713 11,319 0 0 1,606,178
SASCO 9602 B-2 2,425,580 7.0000 0 14,149 14,149 0 0 2,425,580
SASI 9405 B-2 4,722,055 7.0000 5,874 27,545 33,419 0 0 4,716,181
SASI 9405 B-3 3,541,541 7.0000 4,405 20,658 25,064 0 0 3,537,136
SASI 9504 B-2 4,253,675 7.5000 4,037 26,585 30,622 0 0 4,249,638
SASI 93J 3-B 15,832,260 6.8080 171,123 89,804 260,928 0 17 15,661,136
SBMSI 92D B-4 4,059,914 8.0143 4,760 25,900 30,661 0 1,213 4,055,153
SBMSI 9409 B-2 4,048,393 7.0000 4,809 23,615 28,425 0 0 4,043,583
</TABLE>
