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): January 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 January 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.
(28.10) January 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: January 15, 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
(28.10) January 1, 1999 - Information on Distribution to
Certificateholders
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<TABLE>
January 1, 1999 - INFORMATION ON DISTRIBUTION EXHIBIT 28.10
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 56,638,257 6.75% 704,490 318,590 1,023,080 0 0 55,933,767 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 60,165,141 6.75% 209,878 338,429 548,307 0 0 59,955,263 0
C 44,997,458 6.75% 156,968 253,110 410,078 0 0 44,840,491 0
D 73,057,672 6.75% 254,852 410,949 665,801 0 0 72,802,820 0
E 42,216,717 6.75% 147,267 237,469 384,736 0 0 42,069,450 0
F 52,328,505 6.75% 182,541 294,348 476,889 0 0 52,145,964 0
G 14,662,093 6.75% 51,147 82,474 133,621 0 0 14,610,946 0
H 16,178,866 6.75% 56,436 91,006 147,442 0 0 16,122,430 29,336
X 505,560,422 0.39% N/A 180,727 180,727 N/A 0 503,796,843 N/A
PO 640,974 N/A 67,509 0.00 67,509 N/A 0 573,466 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 505,560,422 1,831,088 3,024,505 4,855,592 0.00 0 503,796,843 29,336
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 11.815545 5.343323 938.108536
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 3.418225 5.511894 976.474107
C 45,920,819 6.75 073914C35 3.418225 5.511894 976.474107
D 74,556,836 6.75 073914C43 3.418225 5.511894 976.474107
E 43,083,016 6.75 073914C50 3.418225 5.511894 976.474107
F 53,402,301 6.75 073914C68 3.418225 5.511894 976.474107
G 14,962,963 6.75 073914C76 3.418225 5.511894 976.474107
H 16,510,861 6.75 PRIVATE 3.418117 5.511894 976.474217
X 515,964,267 0.42 073914C84 0.000000 0.350271 976.418088
PO 2,008,801 N/A PRIVATE 33.606438 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 14,787,803 8.2182 519,829 101,088 620,917 0 (187) 14,335,692
BSMSI 9308 M 18,423,925 7.5000 166,974 115,149 282,124 0 0 18,256,950
CAPPTC 94C B-1 5,666,135 6.7500 8,704 31,868 40,573 0 4 5,657,431
CFC 9301 B-1 18,535,140 7.1250 127,444 110,052 237,496 0 0 18,407,696
CFC 9401 B-1 8,472,088 6.8750 11,380 48,538 59,918 0 0 8,460,708
CFC 9409 B-2 3,186,042 6.5000 4,102 17,257 21,360 0 0 3,181,940
CFC 9418 B-3 1,678,129 8.0000 1,852 11,187 13,040 0 0 1,676,277
CFC 9602 B-2 2,787,292 7.7500 2,404 18,001 20,405 0 0 2,784,888
CFC 9705 B-3 2,076,547 7.5000 1,602 12,978 14,580 0 0 2,074,945
CHASE 94E B-2 1,588,026 6.2500 8,986 8,271 17,257 0 0 1,579,040
CHEMPT 9601 B-3 2,339,475 7.2500 2,340 14,134 16,475 0 0 2,337,135
CITIMT 9016 B 4,402,589 9.5000 72,702 34,854 107,555 30 0 4,329,857
CITIMT 9205 B 9,516,504 8.0000 0 63,443 63,443 0 0 9,516,504
CITIMT 9219 B 9,109,558 7.5000 0 56,935 56,935 0 0 9,109,558
CITIMT 9401 B-1 10,258,797 6.5000 15,886 55,568 71,454 0 0 10,242,911
CITIMT 9405 B-1 15,745,264 6.2500 11,881 82,006 93,888 0 0 15,733,383
CITIMT 9407 B-1 9,360,014 6.2500 13,026 48,750 61,776 0 0 9,346,988
CITIMT 9410 B-1 8,626,644 6.2500 10,913 44,930 55,843 0 0 8,615,731
CITIMT 9411 B-1 14,648,274 6.2500 19,035 76,296 95,328 0 0 14,629,239
CITIMT 9413 B-2 1,170,409 6.5000 1,502 6,339 7,842 0 0 1,168,907
CITIMT 9502 B-3 1,270,387 7.5000 1,438 7,940 9,378 0 0 1,268,949
CITIMT 9601 B-1 2,457,337 7.5000 2,113 14,967 17,080 0 391 2,455,224
CITIMT 9703 B-1 1,996,901 7.2500 1,639 12,064 13,704 0 0 1,995,262
CITIMT 9703 B-2 1,996,901 7.2500 1,639 12,064 13,704 0 0 1,995,262
CITIMT 9707 B-1 2,003,045 7.0000 1,647 11,684 13,331 0 0 2,001,398
CWD 94A B-3 1,872,140 6.7500 2,480 10,530 13,011 0 0 1,869,659
CWD 94C B-2 2,882,600 6.5000 3,705 15,614 19,319 0 0 2,878,894
CWD 94G B-1 4,352,278 6.5000 5,083 23,575 28,658 0 0 4,374,194
DLJ 9403 B-1 6,625,588 6.5000 8,663 35,887 44,550 0 2 6,616,925
FBCS 9302R 1 8,122,342 7.4250 41,189 50,257 91,446 0 0 8,081,153
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 7,479,195 6.5000 10,064 39,840 49,904 0 673 7,469,131
GECAP 9416 B-2 3,013,078 6.5000 4,022 16,162 20,184 0 158 3,009,056
GECAP 9427 B-2 2,202,647 6.5000 3,054 11,931 14,984 0 0 2,199,594
GECAP 9507 B-2 4,831,747 7.5000 4,448 30,160 34,609 0 38 4,827,300
GECAP 9615 B-1 3,077,568 7.7500 2,457 19,876 22,333 0 0 3,075,111
GECAP 9616 B-2 2,466,446 7.7500 1,833 15,929 17,763 0 0 2,464,613
GECAP 9701 B-1 3,691,200 7.5000 7,938 23,070 31,008 0 0 3,683,262
GECAP 9702 1-B-2 4,426,073 7.5000 3,623 27,663 31,286 0 0 4,422,449
GECAP 9709 1-B-1 4,715,853 7.2500 3,650 28,492 32,142 0 0 4,712,202
GECAP 9709 1-B-2 3,722,859 7.2500 2,882 22,492 25,374 0 0 3,719,977
GECAP 9709 2-B-2 2,604,763 7.0000 2,092 15,194 17,287 0 0 2,602,671
GECAP 9712 B-1 6,077,369 7.0000 4,715 35,451 40,166 0 0 6,072,654
GECAP 9712 B-2 4,797,922 7.0000 3,722 27,988 31,710 0 0 4,794,200
HMSI 9705 B-2 4,905,656 7.2500 4,174 29,638 33,812 0 0 4,901,482
MORSRV 9602 B-1 1,972,090 7.2500 3,995 11,915 15,910 0 0 1,968,095
MSCAPI 9601 B-2 2,291,778 7.2500 2,304 13,846 16,150 0 0 2,289,474
NSCOR 9604 B-1 4,691,115 7.7500 4,166 30,296 34,496 0 0 4,686,916
NSCOR 9605 B-1 4,483,143 8.0000 3,455 29,769 33,225 0 118 4,479,688
PHMSC 93E 2-B 19,682,982 7.3942 244,096 121,189 365,285 0 95 19,438,886
PHMSC 93L 3-B-3 5,000,000 6.6412 0 27,672 27,672 0 0 5,000,000
PHMSC 94A 5-B 20,123,017 6.8032 25,708 114,085 139,793 0 0 20,097,309
PHMSC 94E 2-B 31,493,431 7.3399 9,059 192,639 201,698 0 (5) 31,484,371
PHMSC 95A 3-B 6,222,777 8.6840 6,461 46,572 53,034 0 (1,540) 6,216,315
PNC 9502 B-3 2,613,341 7.5000 2,805 16,333 19,139 0 0 2,610,536
PNC 9702 B-2 1,746,036 7.5000 1,469 10,913 12,382 0 0 1,744,567
PNC 9705 B-2 2,597,842 7.2500 2,067 15,695 17,762 0 0 2,595,775
PNC 9705 B-3 3,463,970 7.2500 2,756 20,927 23,683 0 (1) 3,461,035
PWMAC 9307 M-3 1,737,610 7.5000 19,030 10,860 29,890 0 0 1,718,580
PWMAC 9402 M-2 3,260,477 6.5000 4,509 17,661 22,170 0 0 3,255,968
PWMAC 9402 M-3 2,400,850 6.5000 3,220 13,005 16,325 0 0 2,397,530
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 4,432,935 7.2500 3,083 26,721 29,804 0 62 4,429,852
RAST 96A3 B-1-B 6,850,626 7.5000 5,973 42,335 48,309 0 482 6,844,652
RAST 96A4 B-2 4,994,738 7.5000 3,898 30,957 34,855 0 260 4,990,839
RFC 93S10 M-2 1,795,550 8.5000 1,779 12,321 14,100 0 397 1,793,772
RFC 93S18 M-2 5,815,693 7.5000 7,564 35,519 43,082 0 829 5,808,130
RFC 93S18 M-3 3,516,321 7.5000 4,573 21,475 26,049 0 501 3,511,748
RFC 93S21 M-3 2,507,386 7.5000 3,139 15,488 18,627 0 183 2,504,247
RFC 93S22 M-2 4,060,888 7.0000 5,411 23,239 28,650 0 (449) 4,055,477
RFC 93S22 M-3 2,444,964 7.0000 3,258 13,992 17,250 0 270 2,441,706
RFC 93S24 M-3 3,543,159 7.0000 4,745 20,229 24,974 0 439 3,538,414
RFC 93S26 M-2 5,282,357 7.5000 6,659 32,157 38,816 0 858 5,275,697
RFC 93S26 M-3 3,597,046 7.5000 4,535 21,897 26,432 0 584 3,592,511
RFC 93S27 M-3 1,950,724 7.5000 2,419 12,040 14,458 0 152 1,948,305
RFC 93S28 M-2 2,976,443 7.0000 32,242 17,050 49,292 0 312 2,944,201
RFC 93S28 M-3 1,985,222 7.0000 21,504 11,372 32,877 0 208 1,963,718
RFC 93S34 M-3 2,004,416 7.0000 2,597 11,565 14,163 0 127 2,001,819
RFC 94S3 M-3 1,411,571 6.7269 1,836 7,794 9,631 0 118 1,409,734
RFC 95R20 M-3 3,161,047 7.5000 3,371 19,746 23,117 0 10 3,157,676
RFC 96S10 M-2 6,522,395 7.5000 5,965 40,573 46,538 0 192 6,516,430
RFC 96S14 M-2 3,569,344 7.5000 4,026 22,261 26,287 0 47 3,565,318
RFC 96S14 M-3 1,784,672 7.5000 2,013 11,131 13,143 0 23 1,782,659
RFC 96S16 M-2 4,427,682 7.7500 8,499 28,255 36,754 0 340 4,419,183
RFC 96S18 M-2 2,615,645 8.0000 2,012 17,152 19,165 0 285 2,613,633
RFC 96S23 M-2 3,175,301 7.7500 2,389 20,101 22,490 0 406 3,172,912
RFC 96S25 M-2 3,129,051 7.7500 3,110 20,111 23,220 0 98 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 10,320 0 50 1,500,000
RYLPT 9304 B-2 4,949,728 7.5000 38,277 30,936 69,213 0 0 4,911,451
SASCO 9601 B-1 3,129,186 7.2500 3,101 18,905 22,006 0 0 3,126,085
SASCO 9601 B-2 1,609,379 7.2500 1,595 9,723 11,318 0 0 1,607,784
SASCO 9602 B-2 2,428,543 7.0000 2,963 14,166 17,129 0 0 2,425,580
SASI 9405 B-2 4,727,932 7.0000 5,877 27,580 33,456 0 0 4,722,055
SASI 9405 B-3 3,545,949 7.0000 4,407 20,685 25,092 0 0 3,541,542
SASI 9504 B-2 4,257,676 7.5000 4,000 26,610 30,611 0 0 4,253,676
SASI 93J 3-B 15,982,619 6.8080 150,359 90,656 241,015 0 19 15,832,260
SBMSI 92D B-4 4,064,773 8.0143 4,859 26,298 31,157 0 849 4,059,914
SBMSI 9409 B-2 4,053,371 7.0000 4,977 23,645 28,622 0 0 4,048,393
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