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 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 March 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.
(28.12) March 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: March 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
(28.12) March 1, 1999 - Information on Distribution to
Certificateholders
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<TABLE>
March 1, 1999 - INFORMATION ON DISTRIBUTION EXHIBIT 28.12
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 54,967,642 6.75% 863,037 309,193 1,172,231 0 0 54,104,604 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 59,667,439 6.75% 257,112 335,629 592,741 0 0 59,410,328 0
C 44,625,228 6.75% 192,294 251,017 443,311 0 0 44,432,934 0
D 72,453,320 6.75% 312,207 407,550 719,757 0 0 72,141,113 0
E 41,867,489 6.75% 180,410 235,505 415,915 0 0 41,687,079 0
F 51,895,630 6.75% 223,623 291,912 515,535 0 0 51,672,008 0
G 14,540,804 6.75% 62,657 81,792 144,450 0 0 14,478,146 0
H 16,045,258 6.75% 69,129 90,255 159,384 0 0 15,976,129 11
X 501,378,524 0.46% N/A 193,890 193,890 N/A 0 499,218,053 N/A
PO 573,465 N/A 18,140 0.00 18,140 N/A 0 555,326 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 501,378,524 2,178,631 3,014,144 5,192,755 0.00 0 499,218,053 11
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 14.474675 5.185715 907.430223
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 4.187509 5.466299 967.598902
C 45,920,819 6.75 073914C35 4.187509 5.466299 967.598901
D 74,556,836 6.75 073914C43 4.187509 5.466299 967.598901
E 43,083,016 6.75 073914C50 4.187509 5.466299 967.598902
F 53,402,301 6.75 073914C68 4.187509 5.466299 967.598902
G 14,962,963 6.75 073914C76 4.187510 5.466299 967.598902
H 16,510,861 6.75 PRIVATE 4.186911 5.466376 967.613327
X 515,964,267 0.46 073914C84 0.000000 0.375781 967.543849
PO 2,008,801 N/A PRIVATE 9.030256 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 13,670,965 8.2182 447,854 93,144 540,998 0 482 13,223,112
BSMSI 9308 M 17,921,595 7.5000 197,101 112,010 309,111 0 0 17,724,495
CAPPTC 94C B-1 5,648,599 6.7500 8,842 31,773 40,616 0 4 5,639,757
CFC 9301 B-1 18,228,033 7.1250 164,624 108,229 272,853 0 0 18,063,409
CFC 9401 B-1 8,441,825 6.8750 51,218 48,365 99,583 0 0 8,390,606
CFC 9409 B-2 3,177,828 6.5000 4,186 17,213 21,399 0 0 3,173,642
CFC 9418 B-3 1,674,427 8.0000 1,948 11,163 13,111 0 0 1,672,479
CFC 9602 B-2 2,782,461 7.7500 2,528 17,970 20,498 0 0 2,779,933
CFC 9705 B-3 2,073,337 7.5000 1,871 12,958 14,830 0 0 2,071,466
CHASE 94E B-2 1,570,006 6.2500 9,105 8,177 17,284 0 0 1,560,901
CHEMPT 9601 B-3 2,334,779 7.2500 2,392 14,106 16,498 0 0 2,332,387
CITIMT 9016 B 4,226,647 9.5000 107,866 34,461 141,327 (18,138) 0 4,136,919
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 10,226,820 6.5000 94,983 55,395 150,378 0 0 10,131,837
CITIMT 9405 B-1 15,708,085 6.2500 25,525 81,813 107,338 0 0 15,682,560
CITIMT 9407 B-1 9,333,830 6.2500 13,322 48,614 61,936 0 0 9,320,508
CITIMT 9410 B-1 8,604,794 6.2500 11,049 44,817 55,866 0 0 8,593,744
CITIMT 9411 B-1 14,609,876 6.2500 19,586 76,093 95,679 0 0 14,590,289
CITIMT 9413 B-2 1,167,390 6.5000 1,531 6,323 7,854 0 0 1,165,859
CITIMT 9502 B-3 1,267,489 7.5000 1,478 7,922 9,400 0 0 1,266,010
CITIMT 9601 B-1 2,453,075 7.5000 2,179 15,332 17,511 0 0 2,450,896
CITIMT 9703 B-1 1,993,604 7.2500 1,678 11,941 13,619 0 104 1,991,926
CITIMT 9703 B-2 1,993,604 7.2500 1,678 11,941 13,619 0 104 1,991,926
CITIMT 9707 B-1 1,999,734 7.0000 1,679 11,665 13,344 0 0 1,998,055
CWD 94A B-3 1,867,218 6.7500 8,958 10,503 19,461 0 0 1,858,260
CWD 94C B-2 2,875,183 6.5000 3,735 15,574 19,309 0 0 2,871,448
CWD 94G B-1 4,342,119 6.5000 5,024 23,383 28,407 0 137 4,337,095
DLJ 9403 B-1 6,608,162 6.5000 1,974 35,794 37,768 0 0 6,606,188
FBCS 9302R 1 8,039,898 7.4250 41,600 49,747 91,347 0 0 7,998,298
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 7,459,017 6.5000 45,586 40,083 85,669 0 320 7,413,431
GECAP 9416 B-2 3,005,002 6.5000 4,109 16,206 20,315 0 71 3,000,892
GECAP 9427 B-2 2,196,501 6.5000 3,061 11,898 14,959 0 0 2,193,440
GECAP 9507 B-2 4,786,992 7.5000 4,652 29,919 34,571 0 0 4,782,339
GECAP 9615 B-1 3,072,589 7.7500 2,492 19,844 22,336 0 0 3,070,097
GECAP 9616 B-2 2,462,684 7.7500 1,858 15,904 17,762 0 0 2,460,826
GECAP 9701 B-1 3,680,237 7.5000 2,994 23,001 25,996 0 0 3,677,242
GECAP 9702 1-B-2 4,418,810 7.5000 3,707 27,617 31,325 0 0 4,415,102
GECAP 9709 1-B-1 4,708,583 7.2500 8,127 28,448 36,574 0 0 4,700,455
GECAP 9709 1-B-2 3,717,118 7.2500 6,415 22,457 28,873 0 0 3,710,704
GECAP 9709 2-B-2 2,600,583 7.0000 2,081 15,170 17,251 0 0 2,598,502
GECAP 9712 B-1 6,067,905 7.0000 4,842 35,396 40,238 0 0 6,063,063
GECAP 9712 B-2 4,790,451 7.0000 3,823 27,944 31,767 0 0 4,786,628
HMSI 9705 B-2 4,897,338 7.2500 4,269 29,588 33,858 0 0 4,893,068
MORSRV 9602 B-1 1,964,068 7.2500 4,054 11,866 15,920 0 0 1,960,033
MSCAPI 9601 B-2 2,287,140 7.2500 2,343 13,818 16,162 0 0 2,284,797
NSCOR 9604 B-1 4,682,758 7.7500 4,360 30,242 34,603 0 0 4,678,398
NSCOR 9605 B-1 4,476,410 8.0000 3,540 29,843 33,383 0 0 4,472,870
PHMSC 93E 2-B 19,118,272 7.3942 319,576 117,643 437,220 0 161 18,798,696
PHMSC 93L 3-B-3 5,000,000 6.6412 0 27,671 27,671 0 0 5,000,000
PHMSC 94A 5-B 20,041,111 6.8032 85,730 113,628 199,358 0 (8) 19,955,382
PHMSC 94E 2-B 31,473,202 7.3399 12,446 192,517 204,963 0 (7) 31,460,756
PHMSC 95A 3-B 6,210,061 8.6840 6,320 46,477 52,797 0 (1,537) 6,203,740
PNC 9502 B-3 2,607,696 7.5000 2,906 16,299 19,204 0 0 2,604,790
PNC 9702 B-2 1,743,084 7.5000 1,498 10,894 12,392 0 0 1,741,585
PNC 9705 B-2 2,593,769 7.2500 2,051 15,671 17,722 0 0 2,591,718
PNC 9705 B-3 3,458,360 7.2500 2,735 20,894 23,629 0 0 3,455,625
PWMAC 9307 M-3 1,695,439 7.5000 16,963 10,596 37,559 0 0 1,678,476
PWMAC 9402 M-2 3,251,482 6.5000 4,539 17,612 22,152 0 0 3,246,942
PWMAC 9402 M-3 2,394,227 6.5000 3,342 12,969 16,311 0 0 2,390,884
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 4,426,852 7.2500 3,180 26,730 29,909 0 15 4,423,584
RAST 96A3 B-1-B 6,839,470 7.5000 5,646 42,524 47,870 0 222 6,834,124
RAST 96A4 B-2 4,982,123 7.5000 3,911 30,938 34,849 0 200 4,978,211
RFC 93S10 M-2 1,792,036 8.5000 1,848 12,507 14,356 0 186 1,790,188
RFC 93S18 M-2 5,800,720 7.5000 7,723 35,415 43,138 0 839 5,792,997
RFC 93S18 M-3 3,507,267 7.5000 4,669 21,413 26,082 0 507 3,502,598
RFC 93S21 M-3 2,501,183 7.5000 3,173 15,362 18,535 0 270 2,498,010
RFC 93S22 M-2 4,050,079 7.0000 5,493 23,113 28,606 0 513 4,044,586
RFC 93S22 M-3 2,438,456 7.0000 3,307 13,916 17,223 0 309 2,435,149
RFC 93S24 M-3 3,538,414 7.0000 0 34,993 34,993 0 (14,352) 3,538,414
RFC 93S26 M-2 5,269,161 7.5000 6,881 32,330 39,211 0 602 5,262,280
RFC 93S26 M-3 3,588,060 7.5000 4,685 22,016 26,701 0 410 3,583,375
RFC 93S27 M-3 1,945,996 7.5000 2,384 11,848 14,232 0 315 1,943,612
RFC 93S28 M-2 2,911,089 7.0000 23,082 16,881 39,962 0 101 2,888,007
RFC 93S28 M-3 1,941,633 7.0000 15,395 11,259 26,654 0 67 1,926,238
RFC 93S34 M-3 1,999,207 7.0000 2,642 11,541 14,183 0 121 1,996,565
RFC 94S3 M-3 1,407,894 6.7269 1,855 7,814 9,669 0 78 1,406,038
RFC 95R20 M-3 3,154,392 7.5000 3,443 19,700 23,144 0 15 3,150,949
RFC 96S10 M-2 6,510,593 7.5000 6,179 40,407 46,586 0 284 6,504,414
RFC 96S14 M-2 3,561,293 7.5000 4,070 22,166 26,237 0 92 3,557,222
RFC 96S14 M-3 1,780,646 7.5000 2,035 11,083 13,118 0 46 1,778,611
RFC 96S16 M-2 4,403,373 7.7500 3,549 27,860 31,410 0 578 4,399,824
RFC 96S18 M-2 2,611,729 8.0000 2,119 17,338 19,457 0 74 2,609,610
RFC 96S23 M-2 3,170,523 7.7500 9,967 20,388 30,356 0 88 3,160,555
RFC 96S25 M-2 3,123,551 7.7500 2,443 19,764 22,208 0 408 3,121,107
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 10,319 0 51 1,500,000
RYLPT 9304 B-2 4,852,486 7.5000 80,565 30,328 110,894 0 0 4,771,920
SASCO 9601 B-1 3,122,963 7.2500 3,115 18,868 21,983 0 0 3,119,848
SASCO 9601 B-2 1,606,178 7.2500 1,602 9,704 11,306 0 0 1,604,576
SASCO 9602 B-2 2,422,017 7.0000 3,406 14,128 17,534 0 0 2,418,612
SASI 9405 B-2 4,716,181 7.0000 6,024 27,511 33,535 0 0 4,710,157
SASI 9405 B-3 3,537,136 7.0000 4,518 20,633 25,151 0 0 3,532,618
SASI 9504 B-2 4,249,639 7.5000 4,063 26,560 30,623 0 0 4,245,576
SASI 93J 3-B 15,661,136 6.8080 125,000 88,824 213,824 0 26 15,536,136
SBMSI 92D B-4 4,055,154 8.0143 10,075 26,437 36,513 0 645 4,045,078
SBMSI 9409 B-2 4,043,584 7.0000 4,928 23,587 28,516 0 0 4,038,655
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