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): April 3, 2000
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 April 3, 2000. 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.
(28.25) April 3, 2000 - 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: April 14, 2000 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
(28.25) April 3, 2000 - Information on Distribution to
Certificateholders
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<TABLE>
April 3, 2000 - INFORMATION ON DISTRIBUTION EXHIBIT 28.25
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 45,592,810 6.75% 44,098 256,460 300,558 0 0 45,548,711 0
A-2 62,033,484 6.75% 793,773 348,938 1,142,711 0 0 61,239,711 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 56,046,048 6.75% 184,056 315,259 499,315 0 0 55,861,992 0
C 41,916,792 6.75% 137,655 235,782 373,437 0 0 41,779,137 0
D 68,055,916 6.75% 223,497 382,815 606,311 0 0 67,832,419 0
E 39,326,429 6.75% 129,149 221,211 350,360 0 0 39,197,280 0
F 48,745,933 6.75% 34,215 274,196 308,410 0 0 48,711,718 125,868
G 13,658,280 6.75% 0 76,828 76,828 0 0 13,658,280 44,854
H 15,071,484 6.75% 0 84,777 84,777 220,217 0 14,851,267 49,495
X 470,899,979 0.17% N/A 66,436 66,436 N/A 0 469,133,319 N/A
PO 555,146 N/A 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 31.09 31.09 0.00 0 0 N/A
R-3 0 6.75% 0 .00 0 0.00 0 0 N/A
Totals 470,899,979 1,546,443 2,715,280 4,261,723 220,217 0 469,133,319 220,217
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 0.739610 4.301282 762.321526
A-2 64,862,910 6.75 073914F32 12.237704 5.379628 942.149399
A-3 45,526,720 6.75 073914F40 0.000000 5.625000 997.890930
A-4 24,947,273 6.75 073914F57 0.000000 5.625000 997.890920
A-5 9,978,809 6.75 073914F65 0.000000 5.625000 997.890879
B 61,399,747 6.75 073914C27 2.997669 5.134533 909.808183
C 45,920,819 6.75 073914C35 2.997669 5.134533 909.808182
D 74,556,836 6.75 073914C43 2.997669 5.134533 909.808182
E 43,083,016 6.75 073914C50 2.997669 5.134533 909.808183
F 53,402,301 6.75 073914C68 0.640695 5.134533 912.165157
G 14,962,963 6.75 073914C76 0.000000 5.134533 912.805851
H 16,510,861 6.75 PRIVATE 0.000000 5.134626 899.484740
X 515,964,267 0.17 073914C84 0.000000 0.128761 909.236063
PO 2,008,801 N/A PRIVATE 0.000000 0.000000 276.356806
R-1 100 6.75 PRIVATE 0.000000 0.000000 0.000000
R-2 100 6.75 PRIVATE 0.000000 310.900000 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 8,981,677 8.2182 142,308 61,299 203,607 0 212 8,839,369
BSMSI 9308 M 16,357,020 7.5000 26,451 102,231 128,682 0 0 16,330,569
CAPPTC 94C B-1 5,286,362 6.7500 9,541 29,736 39,276 0 0 5,276,821
CFC 9301 B-1 16,742,684 7.1250 72,049 99,410 171,459 0 0 16,670,636
CFC 9401 B-1 7,937,718 6.8750 27,120 45,476 75,596 0 0 7,910,599
CFC 9409 B-2 3,022,104 6.5000 8,487 16,370 24,857 0 0 3,013,617
CFC 9418 B-3 1,611,056 8.0000 3,217 10,740 13,958 0 0 1,607,838
CFC 9602 B-2 2,748,347 7.7500 2,707 17,750 20,457 0 0 2,745,640
CFC 9705 B-3 2,042,365 7.5000 1,872 12,765 14,636 0 0 2,040,494
CHASE 94E B-2 1,409,884 6.2500 17,616 7,343 24,959 0 0 1,392,268
CHEMPT 9601 B-3 2,301,700 7.2500 2,725 13,906 16,631 0 0 2,298,975
CITIMT 9016 B 3,231,902 9.5000 120,124 25,586 145,709 0 0 3,111,779
CITIMT 9205 B 6,974,067 8.0000 0 46,494 46,494 0 0 6,974,067
CITIMT 9219 B 8,830,148 7.5000 132,453 55,187 187,640 0 0 8,697,695
CITIMT 9401 B-1 9,437,633 6.5000 40,383 51,120 91,504 0 0 9,397,250
CITIMT 9405 B-1 14,787,228 6.2500 34,512 77,017 111,529 0 0 14,752,716
CITIMT 9407 B-1 8,817,292 6.2500 32,572 45,923 78,496 0 0 8,784,720
CITIMT 9410 B-1 8,114,955 6.2500 57,252 42,265 99,517 0 0 8,057,704
CITIMT 9411 B-1 14,146,320 6.2500 56,639 73,679 130,317 0 0 14,146,320
CITIMT 9413 B-2 1,135,499 6.5000 6,960 6,151 13,111 0 0 1,128,539
CITIMT 9502 B-3 1,246,917 7.5000 1,681 7,793 9,474 0 0 1,245,236
CITIMT 9601 B-1 2,422,637 7.5000 2,510 15,141 17,652 0 0 2,420,127
CITIMT 9703 B-1 1,970,054 7.2500 1,950 11,902 13,852 0 0 1,968,104
CITIMT 9703 B-2 1,970,054 7.2500 1,950 11,902 13,852 0 0 1,968,104
CITIMT 9707 B-1 1,976,703 7.0000 1,858 11,531 13,388 0 0 1,974,845
CWD 94A B-3 1,740,150 6.7500 6,159 9,788 15,948 0 0 1,733,990
CWD 94C B-2 2,694,833 6.5000 5,526 14,597 20,123 0 0 2,689,307
CWD 94G B-1 4,064,598 6.5000 10,056 22,017 32,072 0 0 4,054,542
DLJ 9403 B-1 6,445,086 6.5000 26,109 34,911 61,020 0 0 6,418,977
FBCS 9302R 1 7,532,138 7.4250 26,370 46,605 72,975 0 0 7,491,597
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 6,917,426 6.5000 25,023 37,390 62,413 0 79 6,892,403
GECAP 9416 B-2 2,891,451 6.5000 13,246 15,587 28,833 0 75 2,878,205
GECAP 9427 B-2 2,128,152 6.5000 7,005 11,527 18,533 0 0 2,121,146
GECAP 9507 B-2 4,677,041 7.5000 5,415 29,231 34,647 0 0 4,671,626
GECAP 9615 B-1 3,008,654 7.7500 3,062 19,431 22,493 0 0 3,005,592
GECAP 9616 B-2 2,409,268 7.7500 17,058 15,560 32,618 0 0 2,392,210
GECAP 9701 B-1 3,629,764 7.5000 3,547 22,686 26,233 0 0 3,626,217
GECAP 9702 1-B-2 4,351,951 7.5000 4,405 27,200 31,604 0 0 4,347,547
GECAP 9709 1-B-1 4,637,899 7.2500 4,358 28,021 32,378 0 0 4,633,542
GECAP 9709 1-B-2 3,661,320 7.2500 3,440 22,120 25,561 0 0 3,657,880
GECAP 9709 2-B-2 2,567,121 7.0000 9,260 14,975 24,235 0 0 2,557,860
GECAP 9712 B-1 5,993,732 7.0000 5,660 34,963 40,624 0 0 5,988,072
GECAP 9712 B-2 4,731,893 7.0000 4,469 27,603 32,072 0 0 4,727,425
HMSI 9705 B-2 4,833,254 7.2500 5,212 29,201 34,412 0 0 4,828,042
MORSRV 9602 B-1 1,909,121 7.2500 4,439 11,534 15,974 0 0 1,904,682
MSCAPI 9601 B-2 2,255,149 7.2500 2,637 13,625 16,262 0 0 2,252,512
NSCOR 9604 B-1 4,622,273 7.7500 5,094 29,852 34,947 0 0 4,617,178
NSCOR 9605 B-1 4,426,217 8.0000 4,251 29,508 33,759 0 0 4,421,966
PHMSC 93E 2-B 16,619,572 7.3942 74,889 102,289 177,178 0 119 16,544,683
PHMSC 93L 3-B-3 5,000,000 6.6412 0 27,671 27,671 0 1 5,000,000
PHMSC 94A 5-B 18,716,335 6.8036 59,173 106,048 165,220 0 68 18,657,163
PHMSC 94E 2-B 30,198,508 7.3399 110,107 184,711 294,818 0 2 30,088,401
PHMSC 95A 3-B 6,118,538 8.6841 10,668 45,793 56,461 0 (1,515) 6,107,870
PNC 9502 B-3 2,561,715 7.5000 3,148 16,011 19,159 0 0 2,558,567
PNC 9702 B-2 1,714,464 7.5000 14,355 10,715 25,070 0 0 1,700,110
PNC 9705 B-2 2,565,476 7.2500 2,360 15,500 17,860 0 0 2,563,117
PNC 9705 B-3 3,420,636 7.2500 3,146 20,666 23,813 0 0 3,417,489
PWMAC 9307 M-3 1,486,367 7.5000 2,603 9,290 11,893 0 0 1,483,764
PWMAC 9402 M-2 3,049,164 6.5000 9,209 16,516 25,725 0 0 3,039,955
PWMAC 9402 M-3 2,245,250 6.5000 6,781 12,162 18,943 0 0 2,238,469
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 4,368,249 7.2500 3,688 26,381 30,070 0 10 4,364,561
RAST 96A3 B-1-B 6,747,257 7.5000 7,137 42,170 49,308 0 0 6,740,119
RAST 96A4 B-2 4,866,446 7.5000 4,497 30,415 34,912 0 0 4,861,949
RFC 93S10 M-2 1,768,648 8.5000 2,541 12,519 15,061 0 9 1,766,106
RFC 93S18 M-2 5,664,055 7.5000 9,041 35,374 44,415 0 26 5,655,015
RFC 93S18 M-3 3,424,637 7.5000 5,466 21,388 26,854 0 16 3,419,171
RFC 93S21 M-3 2,458,582 7.5000 3,564 15,228 18,792 0 138 2,455,017
RFC 93S22 M-2 3,974,943 7.0000 6,243 23,026 29,269 0 161 3,968,701
RFC 93S22 M-3 2,396,079 7.0000 3,763 13,880 17,643 0 97 2,392,316
RFC 93S24 M-3 3,739,700 7.0000 5,432 20,154 25,586 0 1661 3,471,583
RFC 93S26 M-2 5,156,077 7.5000 8,070 31,972 40,042 0 253 5,148,006
RFC 93S26 M-3 3,511,055 7.5000 5,496 21,771 27,267 0 172 3,505,560
RFC 93S27 M-3 1,913,803 7.5000 11,882 11,960 23,842 0 1 1,901,921
RFC 93S28 M-2 2,658,940 7.0000 7,560 15,498 23,058 0 12 2,651,380
RFC 93S28 M-3 1,773,455 7.0000 5,042 10,337 15,379 0 8 1,768,413
RFC 93S34 M-3 1,959,129 7.0000 2,976 11,399 14,375 0 29 1,956,153
RFC 94S3 M-3 1,382,260 6.7269 2,113 7,691 9,803 0 58 1,380,148
RFC 95R20 M-3 3,106,186 7.5000 3,953 19,400 23,353 0 14 3,102,233
RFC 96S10 M-2 6,418,181 7.5000 7,319 40,101 47,420 0 12 6,410,862
RFC 96S14 M-2 3,500,965 7.5000 4,725 21,860 26,585 0 21 3,496,240
RFC 96S14 M-3 1,750,482 7.5000 2,363 10,930 13,293 0 11 1,748,120
RFC 96S16 M-2 4,313,993 7.7500 4,195 27,858 32,053 0 3 4,309,798
RFC 96S18 M-2 2,577,193 8.0000 2,531 17,178 19,710 0 3 2,574,662
RFC 96S23 M-2 3,090,963 7.7500 2,879 19,952 22,831 0 10 3,088,084
RFC 96S25 M-2 3,084,315 7.7500 3,195 19,913 23,108 0 6 3,081,121
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 10,321 10,321 0 49 1,500,000
RYLPT 9304 B-2 4,380,662 7.5000 13,986 27,379 41,365 0 0 4,366,676
SASCO 9601 B-1 3,080,436 7.2500 3,452 18,611 22,063 0 0 3,076,984
SASCO 9601 B-2 1,584,306 7.2500 1,775 9,572 11,347 0 0 1,582,531
SASCO 9602 B-2 2,396,378 7.0000 3,654 13,979 17,633 0 0 2,392,725
SASI 9405 B-2 4,493,406 7.0000 12,624 26,211 38,835 0 0 4,480,783
SASI 9405 B-3 3,370,055 7.0000 9,468 19,659 29,126 0 0 3,360,587
SASI 9504 B-2 4,192,307 7.5000 4,810 26,202 31,012 0 0 4,187,497
SASI 93J 3-B 14,476,033 6.8080 50,093 82,066 132,159 0 62 14,425,940
SBMSI 92D B-4 2,800,584 8.0143 30,815 18,140 48,955 0 564 2,769,769
SBMSI 9409 B-2 3,913,754 7.0000 16,176 22,830 39,007 0 0 3,897,578
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