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): May 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 May 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.
(28.14) May 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: May 12, 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
(28.14) May 1, 1999 - Information on Distribution to
Certificateholders
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<TABLE>
May 1, 1999 - INFORMATION ON DISTRIBUTION EXHIBIT 28.14
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 52,906,152 6.75% 1,091,215 297,597 1,388,812 0 0 51,814,937 0
A-2 64,862,910 6.75% 0 364,854 364,853 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 59,055,328 6.75% 325,100 332,186 657,286 0 0 58,730,228 0
C 44,167,430 6.75% 243,142 248,442 491,584 0 0 43,924,288 0
D 71,710,042 6.75% 394,765 403,369 798,134 0 0 71,315,277 0
E 41,437,983 6.75% 228,116 233,089 461,205 0 0 41,209,866 0
F 51,363,248 6.75% 282,754 288,918 571,672 0 0 51,080,493 0
G 14,391,634 6.75% 79,226 80,953 160,179 0 0 14,312,408 0
H 15,880,666 6.75% 87,415 89,329 176,744 0 0 15,793,250 8
X 496,228,198 0.01% N/A 143,176 143,176 N/A 0 493,496,461 N/A
PO 555,326 N/A 100,002 0.00 100,002 N/A 0 455,323 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 496,228,198 2,831,740 2,934,460 5,766,194 0.00 0 493,496,460 8
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 18.931576 4.980705 866.527045
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 5.488651 5.410221 956.328487
C 45,920,819 6.75 073914C35 5.488651 5.410221 956.328487
D 74,556,836 6.75 073914C43 5.488651 5.410221 956.328487
E 43,083,016 6.75 073914C50 5.488651 5.410221 956.328488
F 53,402,301 6.75 073914C68 5.488651 5.410221 956.328488
G 14,962,963 6.75 073914C76 5.488651 5.410221 956.328489
H 16,510,861 6.75 PRIVATE 5.488242 5.488242 956.343236
X 515,964,267 0.46 073914C84 0.000000 0.000000 956.260909
PO 2,008,801 N/A PRIVATE 0.000000 0.000000 276.446454
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 11,995,219 8.2182 572,109 81,147 653,256 0 1,003 11,423,110
BSMSI 9308 M 17,488,019 7.5000 195,772 109,300 305,072 0 0 17,292,247
CAPPTC 94C B-1 5,608,569 6.7500 53,973 31,514 85,488 0 34 5,554,595
CFC 9301 B-1 17,908,254 7.1250 232,204 106,330 338,535 0 0 17,676,050
CFC 9401 B-1 8,343,976 6.8750 59,868 47,804 107,672 0 0 8,284,108
CFC 9409 B-2 3,169,421 6.5000 21,024 17,167 38,192 0 0 3,148,397
CFC 9418 B-3 1,670,520 8.0000 1,956 11,137 13,093 0 0 1,668,564
CFC 9602 B-2 2,777,420 7.7500 2,575 17,937 20,512 0 0 2,774,845
CFC 9705 B-3 2,069,816 7.5000 2,441 12,936 15,378 0 0 2,067,375
CHASE 94E B-2 1,551,630 6.2500 9,176 8,081 17,258 0 0 1,542,453
CHEMPT 9601 B-3 2,329,970 7.2500 2,446 14,077 16,524 0 0 2,327,524
CITIMT 9016 B 4,118,319 9.5000 71,395 32,603 103,999 0 0 4,046,923
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 10,070,703 6.5000 95,787 54,549 150,337 0 0 9,974,915
CITIMT 9405 B-1 15,656,770 6.2500 93,626 81,546 175,172 0 0 15,563,144
CITIMT 9407 B-1 9,307,046 6.2500 13,471 48,474 61,945 0 0 9,293,575
CITIMT 9410 B-1 8,582,608 6.2500 11,262 44,701 55,964 0 0 8,571,345
CITIMT 9411 B-1 14,570,420 6.2500 20,257 75,887 96,145 0 0 14,550,162
CITIMT 9413 B-2 1,164,316 6.5000 1,568 6,306 7,875 0 0 1,162,748
CITIMT 9502 B-3 1,264,519 7.5000 1,519 7,903 9,423 0 0 1,262,999
CITIMT 9601 B-1 2,448,694 7.5000 2,255 15,257 17,513 0 47 2,446,438
CITIMT 9703 B-1 1,990,222 7.2500 1,722 11,837 13,560 0 187 1,988,499
CITIMT 9703 B-2 1,990,222 7.2500 1,722 11,837 13,560 0 187 1,988,499
CITIMT 9707 B-1 1,996,360 7.0000 1,701 11,591 13,293 0 54 1,994,659
CWD 94A B-3 1,844,857 6.7500 21,259 10,364 31,622 0 14 1,823,599
CWD 94C B-2 2,842,734 6.5000 26,007 15,398 41,405 0 0 2,816,727
CWD 94G B-1 4,331,940 6.5000 53,681 23,320 77,001 0 144 4,278,259
DLJ 9403 B-1 6,590,449 6.5000 8,937 35,698 44,635 0 0 6,581,513
FBCS 9302R 1 7,956,711 7.4250 37,627 49,232 86,859 0 0 7,919,084
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 7,370,370 6.5000 80,027 39,257 119,284 0 665 7,290,343
GECAP 9416 B-2 2,996,755 6.5000 8,847 16,147 24,995 0 84 2,987,908
GECAP 9427 B-2 2,190,332 6.5000 3,145 11,864 15,009 0 0 2,187,187
GECAP 9507 B-2 4,777,730 7.5000 4,710 29,861 34,572 0 0 4,773,019
GECAP 9615 B-1 3,067,606 7.7500 2,549 19,812 22,361 0 0 3,065,057
GECAP 9616 B-2 2,458,931 7.7500 1,952 15,881 17,833 0 18 2,456,979
GECAP 9701 B-1 3,674,184 7.5000 3,071 22,963 26,035 0 0 3,671,113
GECAP 9702 1-B-2 4,411,399 7.5000 3,792 27,571 31,363 0 0 4,407,606
GECAP 9709 1-B-1 4,696,771 7.2500 3,821 28,376 32,197 0 0 4,692,951
GECAP 9709 1-B-2 3,707,796 7.2500 3,016 22,401 25,417 0 0 3,704,779
GECAP 9709 2-B-2 2,596,413 7.0000 2,117 15,146 17,263 0 0 2,594,296
GECAP 9712 B-1 6,058,150 7.0000 4,913 35,339 40,252 0 0 6,053,237
GECAP 9712 B-2 4,782,750 7.0000 3,878 27,899 31,778 0 0 4,778,871
HMSI 9705 B-2 4,888,755 7.2500 4,373 29,536 33,909 0 0 4,884,383
MORSRV 9602 B-1 1,955,845 7.2500 4,114 11,816 15,931 0 0 1,951,731
MSCAPI 9601 B-2 2,282,425 7.2500 2,404 13,789 16,194 0 0 2,280,021
NSCOR 9604 B-1 4,674,062 7.7500 4,349 29,833 34,182 0 353 4,669,713
NSCOR 9605 B-1 4,469,350 8.0000 3,617 29,499 33,116 0 296 4,465,732
PHMSC 93E 2-B 18,504,386 7.3942 321,091 113,170 434,262 0 851 18,183,294
PHMSC 93L 3-B-3 5,000,000 6.6412 0 27,671 27,672 0 0 5,000,000
PHMSC 94A 5-B 19,835,287 6.8032 174,175 112,460 286,635 0 0 19,661,113
PHMSC 94E 2-B 31,445,739 7.3399 15,402 191,936 207,339 0 405 31,430,337
PHMSC 95A 3-B 6,197,393 8.6840 6,705 46,384 53,089 0 (1,535) 6,190,688
PNC 9502 B-3 2,601,865 7.5000 2,955 16,262 19,217 0 0 2,598,910
PNC 9702 B-2 1,740,067 7.5000 1,516 10,875 12,391 0 0 1,738,551
PNC 9705 B-2 2,589,653 7.2500 2,073 15,646 17,720 0 0 2,587,580
PNC 9705 B-3 3,452,871 7.2500 2,764 20,861 23,626 0 0 3,450,107
PWMAC 9307 M-3 1,646,552 7.5000 36,129 10,290 46,420 0 0 1,610,423
PWMAC 9402 M-2 3,242,354 6.5000 48,030 17,563 65,593 0 0 3,194,324
PWMAC 9402 M-3 2,387,505 6.5000 35,367 12,932 48,300 0 0 2,352,138
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 4,418,158 7.2500 3,191 26,564 29,755 0 128 4,414,967
RAST 96A3 B-1-B 6,828,882 7.5000 4,256 41,887 46,143 0 794 6,824,626
RAST 96A4 B-2 4,965,639 7.5000 10,404 30,841 41,246 0 194 4,955,234
RFC 93S10 M-2 1,788,432 8.5000 0 0 0 0 12,668 1,788,432
RFC 93S18 M-2 5,785,291 7.5000 7,782 35,368 43,151 0 790 5,777,508
RFC 93S18 M-3 3,497,939 7.5000 4,706 21,384 26,090 0 477 3,493,233
RFC 93S21 M-3 2,495,006 7.5000 3,034 15,121 18,155 0 473 2,491,972
RFC 93S22 M-2 4,039,118 7.0000 4,821 23,032 27,853 0 529 4,034,297
RFC 93S22 M-3 2,431,857 7.0000 0 0 0 0 14,186 2,431,856
RFC 93S24 M-3 3,533,579 7.0000 4,908 20,347 25,255 0 265) 3,528,672
RFC 93S26 M-2 5,255,418 7.5000 6,917 31,763 38,680 0 1,083 5,248,500
RFC 93S26 M-3 3,578,702 7.5000 4,710 21,629 26,339 0 737 3,573,991
RFC 93S27 M-3 1,941,264 7.5000 2,374 11,829 14,204 0 304 1,938,889
RFC 93S28 M-2 2,858,338 7.0000 24,650 16,424 41,074 0 249 2,833,688
RFC 93S28 M-3 1,906,449 7.0000 16,441 10,954 27,395 0 166 1,890,008
RFC 93S34 M-3 1,993,922 7.0000 2,641 11,410 14,051 0 221 1,991,280
RFC 94S3 M-3 1,404,148 6.7269 1,891 7,769 9,660 0 102 1,402,257
RFC 95R20 M-3 3,147,506 7.5000 3,485 19,653 23,138 0 18 3,144,021
RFC 96S10 M-2 6,498,272 7.5000 6,114 39,889 46,003 0 724 6,492,159
RFC 96S14 M-2 3,553,043 7.5000 4,252 22,121 26,373 0 85 3,548,792
RFC 96S14 M-3 1,776,521 7.5000 2,126 11,060 13,186 0 42 1,774,396
RFC 96S16 M-2 4,383,656 7.7500 3,628 27,870 31,498 0 441 4,380,028
RFC 96S18 M-2 2,607,511 8.0000 2,082 16,873 18,956 0 510 2,605,429
RFC 96S23 M-2 3,158,108 7.7500 10,766 19,927 30,693 0 469 3,147,342
RFC 96S25 M-2 3,118,596 7.7500 2,499 19,357 21,856 0 784 3,116,096
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 10,318 10,318 0 51 1,500,000
RYLPT 9304 B-2 4,701,336 7.5000 67,078 29,383 96,461 0 0 4,634,257
SASCO 9601 B-1 3,116,698 7.2500 3,161 18,830 21,991 0 0 3,113,537
SASCO 9601 B-2 1,602,956 7.2500 1,626 9,684 11,310 0 0 1,601,331
SASCO 9602 B-2 2,415,352 7.0000 3,294 14,089 17,384 0 0 2,412,058
SASI 9405 B-2 4,704,151 7.0000 6,100 27,440 33,541 0 0 4,698,052
SASI 9405 B-3 3,528,114 7.0000 4,575 20,581 25,156 0 0 3,523,539
SASI 9504 B-2 4,241,583 7.5000 4,100 26,510 30,610 0 0 4,237,483
SASI 93J 3-B 15,381,767 6.8080 185,799 87,232 273,032 0 33 15,195,967
SBMSI 92D B-4 4,040,039 8.0143 5,071 26,410 31,481 0 571 4,034,969
SBMSI 9409 B-2 4,033,698 7.0000 4,997 23,530 28,527 0 0 4,028,701
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