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): September 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 September 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.
(28.18) September 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: September 12, 1999 By: /S/Samuel Molinaro
Samuel Molinaro
Treasurer and Secretary
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STRUCTURED ASSET MORTGAGE INVESTMENTS, INC.
FORM 8-K
CURRENT REPORT
Exhibit Index
Exhibit No. Description
(28.18) September 1, 1999 - Information on Distribution to
Certificateholders
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<TABLE>
September 1, 1999 - INFORMATION ON DISTRIBUTION EXHIBIT 28.18
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 48,454,303 6.75% 1,219,783 272,555 1,492,339 0 0 47,234,520 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 57,732,387 6.75% 363,032 324,745 687,777 0 0 57,369,355 0
C 43,178,004 6.75% 271,512 242,876 514,388 0 0 42,906,492 0
D 70,103,614 6.75% 440,825 394,333 835,158 0 0 69,662,789 0
E 40,509,701 6.75% 254,733 227,867 482,600 0 0 40,254,968 0
F 50,212,623 6.75% 315,747 282,446 598,193 0 0 49,896,876 0
G 14,069,237 6.75% 88,470 79,139 167,610 0 0 13,980,767 0
H 15,524,931 6.75% 96,292 87,328 183,620 1,331 0 15,427,307 89.98
X 485,100,510 0.43% N/A 173,860 173,860 N/A 0 482,048,785 N/A
PO 555,146 N/A 0.0 0.00 0 N/A 0 555,146
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 485,100,510 3,050,394 2,902,550 5,952,946 1,331 0 482,048,785 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 20.414780 4.561598 790.535895
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 5.912602 5.289023 934.358167
C 45,920,819 6.75 073914C35 5.912602 5.289023 934.358167
D 74,556,836 6.75 073914C43 5.912602 5.289023 934.358167
E 43,083,016 6.75 073914C50 5.912602 5.289023 934.358167
F 53,402,301 6.75 073914C68 5.912602 5.289023 934.358167
G 14,962,963 6.75 073914C76 5.912602 5.289023 934.358168
H 16,510,861 6.75 PRIVATE 5.832062 5.289109 934.373270
X 515,964,267 0.43 073914C84 0.000000 0.336961 934.267771
PO 2,008,801 N/A PRIVATE 0.000000 0.000000 276.356827
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 10,249,962 8.2182 300,807 70,004 370,810 0 193 9,949,156
BSMSI 9308 M 16,865,409 7.5000 106,278 105,409 211,687 0 0 16,759,131
CAPPTC 94C B-1 5,440,440 6.7500 17,014 30,602 47,616 0 00 5,423,426
CFC 9301 B-1 17,312,497 7.1250 104,935 102,793 207,728 0 0 17,207,562
CFC 9401 B-1 8,159,131 6.8750 34,621 46,745 81,366 0 0 8,124,511
CFC 9409 B-2 3,096,558 6.5000 11,001 16,773 27,774 0 0 3,085,557
CFC 9418 B-3 1,662,251 8.0000 10,575 11,082 21,656 0 0 1,651,676
CFC 9602 B-2 2,767,016 7.7500 2,579 17,870 20,449 0 0 2,764,437
CFC 9705 B-3 2,060,024 7.5000 1,750 12,875 14,626 0 0 2,058,273
CHASE 94E B-2 1,497,830 6.2500 11,718 7,801 19,519 0 0 1,486,112
CHEMPT 9601 B-3 2,320,057 7.2500 2,539 14,017 16,556 0 0 2,317,518
CITIMT 9016 B 3,921,459 9.5000 15,592 31,045 46,637 1,168 0 3,904,699
CITIMT 9205 B 8,441,910 8.0000 72,391 56,279 128,670 0 0 8,369,520
CITIMT 9219 B 9,109,558 7.5000 0 56,935 56,935 0 0 9,109,558
CITIMT 9401 B-1 9,744,969 6.5000 47,969 52,785 100,754 0 0 9,697,000
CITIMT 9405 B-1 15,248,716 6.2500 129,220 79,420 208,641 0 0 15,119,495
CITIMT 9407 B-1 9,070,079 6.2500 75,309 47,240 122,549 0 0 8,994,770
CITIMT 9410 B-1 8,440,852 6.2500 33,568 43,963 77,531 0 0 8,407,284
CITIMT 9411 B-1 14,488,484 6.2500 21,038 75,461 96,499 0 0 14,467,446
CITIMT 9413 B-2 1,157,947 6.5000 1,642 6,272 7,914 0 0 1,156,305
CITIMT 9502 B-3 1,258,356 7.5000 1,589 7,865 9,454 0 0 1,256,767
CITIMT 9601 B-1 2,439,511 7.5000 2,332 15,247 17,579 0 0 2,437,179
CITIMT 9703 B-1 1,983,203 7.2500 1,813 11,982 13,795 0 0 1,981,390
CITIMT 9703 B-2 1,983,203 7.2500 1,813 11,982 13,795 0 0 1,981,390
CITIMT 9707 B-1 1,989,470 7.0000 1,756 11,605 13,362 0 0 1,987,714
CWD 94A B-3 1,791,599 6.7500 9,223 10,078 19,300 0 0 1,782,376
CWD 94C B-2 2,766,922 6.5000 15,902 14,988 30,889 0 0 2,751,021
CWD 94G B-1 4,190,508 6.5000 15,128 22,699 37,826 0 0.0 4,175,381
DLJ 9403 B-1 6,554,197 6.5000 9,267 35,502 44,769 0 0 6,544,930
FBCS 9302R 1 7,804,215 7.4250 37,475 48,289 85,763 163 0 7,766,577
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 7,131,230 6.5000 42,675 38,308 80,983 0 319 7,088,555
GECAP 9416 B-2 2,957,159 6.5000 15,999 15,898 31,898 0 120 2,941,159
GECAP 9427 B-2 2,177,567 6.5000 8,284 11,795 20,080 0 0 2,169,282
GECAP 9507 B-2 4,737,934 7.5000 29,558 29,612 59,170 0 0 4,708,376
GECAP 9615 B-1 3,029,207 7.7500 2,824 19,564 22,388 0 0 3,026,383
GECAP 9616 B-2 2,439,165 7.7500 2,207 15,753 17,960 0 0 2,436,958
GECAP 9701 B-1 3,653,687 7.5000 3,325 22,836 26,161 0 0 3,650,362
GECAP 9702 1-B-2 4,390,497 7.5000 13,302 27,441 40,743 0 0 4,377,195
GECAP 9709 1-B-1 4,673,288 7.2500 4,078 28,234 32,312 0 0 4,669,210
GECAP 9709 1-B-2 3,689,257 7.2500 3,219 22,289 25,508 0 0 3,686,038
GECAP 9709 2-B-2 2,587,700 7.0000 6,547 15,095 21,642 0 0 2,581,153
GECAP 9712 B-1 6,037,893 7.0000 5,280 35,221 40,501 0 0 6,032,613
GECAP 9712 B-2 4,766,757 7.0000 4,168 27,806 31,974 0 0 4,762,588
HMSI 9705 B-2 4,870,829 7.2500 8,076 29,428 37,504 0 0 4,862,753
MORSRV 9602 B-1 1,939,352 7.2500 4,213 11,717 15,930 0 0 1,935,139
MSCAPI 9601 B-2 2,272,824 7.2500 2,443 13,732 16,175 0 0 2,270,381
NSCOR 9604 B-1 4,656,242 7.7500 4,591 30,072 34,663 0 0 4,651,650
NSCOR 9605 B-1 4,454,483 8.0000 3,855 29,697 33,551 0 0 4,450,628
PHMSC 93E 2-B 17,311,627 7.3942 136,425 106,567 242,992 0 105 17,175,202
PHMSC 93L 3-B-3 5,000,000 6.6412 0.0 27,671 27,671 0 .61 5,000,000
PHMSC 94A 5-B 19,275,906 6.8036 111,142 109,243 220,385 0 46 19,164,765
PHMSC 94E 2-B 31,016,487 7.3399 163,048 189,747 352,795 0 (31) 30,853,439
PHMSC 95A 3-B 6,170,348 8.6840 7,390 46,180 53,569 0 (1,527) 6,162,959
PNC 9502 B-3 2,582,921 7.5000 2,985 16,143 19,128 0 .14 2,579,937
PNC 9702 B-2 1,733,917 7.5000 1,563 10,837 12,400 0 0 1,732,354
PNC 9705 B-2 2,581,211 7.2500 2,174 15,595 17,769 0 0 2,579,037
PNC 9705 B-3 3,441,616 7.2500 2,899 20,793 23,692 0 (.04) 3,438,717
PWMAC 9307 M-3 1,556,194 7.5000 12,447 9,726 22,173 0 0 1,543,747
PWMAC 9402 M-2 3,141,760 6.5000 18,024 17,018 35,042 0 0 3,123,736
PWMAC 9402 M-3 2,313,433 6.5000 13,272 12,531 25,803 0 0 2,300,161
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 4,405,123 7.2500 3,397 26,599 29,996 0 15 4,401,726
RAST 96A3 B-1-B 6,808,029 7.5000 15,368 42,550 57,919 0 0 6,792,661
RAST 96A4 B-2 4,917,781 7.5000 15,446 30,700 46,146 0 36 4,902,336
RFC 93S10 M-2 1,782,898 8.5000 2,065 12,625 14,690 0 4 1,780,833
RFC 93S18 M-2 5,742,682 7.5000 8,233 35,194 43,427 0 698 5,734,449
RFC 93S18 M-3 3,472,177 7.5000 4,978 21,279 262570 0 422 3,467,199
RFC 93S21 M-3 2,482,518 7.5000 3,264 15,198 18,462 0 318 2,479,254
RFC 93S22 M-2 4,017,309 7.0000 5,891 23,235 29,126 0 199 4,011,419
RFC 93S22 M-3 2,421,617 7.0000 3,551 14,006 17,557 0 120 2,418,066
RFC 93S24 M-3 3,513,695 7.0000 5,171 20,339 25,511 0 158 3,508,524
RFC 93S26 M-2 5,226,385 7.5000 7,445 32,172 39,617 0 493 5,218,940
RFC 93S26 M-3 3,558,932 7.5000 5,069 21,908 26,977 0 336 3,553,863
RFC 93S27 M-3 1,931,718 7.5000 2,493 11,912 14,406 0 161 1,929,225
RFC 93S28 M-2 2,743,278 7.0000 23,046 15,746 38,792 0 256 2,720,232
RFC 93S28 M-3 1,829,706 7.0000 15,371 10,503 25,874 0 171 1,814,335
RFC 93S34 M-3 1,981,395 7.0000 4,862 11,466 16,328 0 92 1,976,533
RFC 94S3 M-3 1,396,483 6.7269 1,960 7,683 9,643 0 145 1,394,523
RFC 95R20 M-3 3,133,214 7.5000 3,721 19,577 23,299 0 5 3,129,493
RFC 96S10 M-2 6,472,731 7.5000 6,708 40,437 47,145 0 18 6,466,023
RFC 96S14 M-2 3,535,613 7.5000 4,546 22,079 26,625 0 18 3,531,068
RFC 96S14 M-3 1,767,807 7.5000 2,273 11,040 13,312 0 9 1,765,534
RFC 96S16 M-2 4,368,897 7.7500 3,806 28,143 31,948 0 73 4,365,092
RFC 96S18 M-2 2,598,843 8.0000 2,260 17,320 19,580 0 6 2,596,584
RFC 96S23 M-2 3,139,583 7.7500 2,756 20,274 23,030 0 3 3,136,827
RFC 96S25 M-2 3,108,341 7.7500 2,778 20,000 22,778 0 75 3,105,563
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 10,322 10,322 0 48 1,500,000
RYLPT 9304 B-2 4,520,854 7.5000 30,725 28,255 58,980 0 0 4,490,129
SASCO 9601 B-1 3,103,896 7.2500 3,269 18,753 22,021 0 0 3,100,627
SASCO 9601 B-2 1,596,372 7.2500 1,681 9,645 11,326 0 0 1,594,691
SASCO 9602 B-2 2,408,227 7.0000 0.00 14,048 14,047 0 0 2,408,227
SASI 9405 B-2 4,620,415 7.0000 25,686 26,952 52,639 0 0 4,594,729
SASI 9405 B-3 3,465,312 7.0000 19,265 20,214 39,479 0 0 3,446,047
SASI 9504 B-2 4,224,696 7.5000 4,403 26,404 30,808 0 0 4,220,293
SASI 93J 3-B 14,878,505 6.8080 68,820 84,359 153,179 0 52 14,809,684
SBMSI 92D B-4 4,974,737 8.0143 1,001,717 26,037 1,027,754 0 509 3,973,020
SBMSI 9409 B-2 4,012,969 7.0000 5,522 23,409 28,931 0 0 4,007,447
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