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): February 1, 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 February 1, 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.
(28.23) February 1, 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: February 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
(28.23) February 1, 2000 - Information on Distribution to
Certificateholders
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<TABLE>
February 1, 2000 - INFORMATION ON DISTRIBUTION EXHIBIT 28.23
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 45,664,517 6.75% 35,804 256,863 292,667 0 0 45,628,713 0
A-2 63,324,213 6.75% 644,469 356,199 1,000,668 0 0 62,679,744 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 56,449,350 6.75% 200,023 317,527 517,550 0 0 56,249,327 0
C 42,218,421 6.75% 149,597 237,479 387,075 0 0 42,068,825 0
D 68,545,640 6.75% 242,885 385,569 628,454 0 0 68,302,755 0
E 39,609,418 6.75% 140,352 222,803 363,155 0 0 39,469,066 0
F 49,096,704 6.75% 173,969 276,169 450,138 0 0 48,922,734 0
G 13,756,564 6.75% 48,745 77,381 126,126 0 0 13,707,819 0
H 15,179,922 6.75% 44,767 85,387 130,154 9,021 0 15,126,133 9,021
X 474,297,550 0.43% N/A 170,100 170,100 N/A 0 472,607,918 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 .00 0 0.00 0 0 N/A
R-3 0 6.75% 0 .00 0 0.00 0 0 N/A
Totals 474,297,550 1,680,610 2,838,024 4,518,634 9,021 0 472,607,919 9,021
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 0.599228 4.298961 763.660468
A-2 64,862,910 6.75 073914F32 9.914913 5.479980 964.303752
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 3.257710 5.171480 916.116600
C 45,920,819 6.75 073914C35 3.257710 5.171480 916.116600
D 74,556,836 6.75 073914C43 3.257710 5.171480 916.116599
E 43,083,016 6.75 073914C50 3.257710 5.171480 916.116600
F 53,402,301 6.75 073914C68 3.257710 5.171480 916.116600
G 14,962,963 6.75 073914C76 3.257710 5.171480 916.116599
H 16,510,861 6.75 PRIVATE 2.711373 5.171569 916.132320
X 515,964,267 0.43 073914C84 0.000000 0.329674 915.970250
PO 2,008,801 N/A PRIVATE 0.000000 0.000000 276.356826
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 9,145,238 8.2182 93,816 62,427 156,243 0 205 9,051,421
BSMSI 9308 M 16,476,664 7.5000 45,572 102,979 148,551 0 0 16,434,092
CAPPTC 94C B-1 5,315,459 6.7500 13,238 29,899 43,138 0 0 5,302,221
CFC 9301 B-1 16,929,693 7.1250 111,268 100,520 211,788 0 0 16,818,425
CFC 9401 B-1 7,989,757 6.8750 21,902 45,775 67,677 0 0 7,967,854
CFC 9409 B-2 3,043,649 6.5000 8,791 16,486 25,277 0 0 3,034,858
CFC 9418 B-3 1,618,933 8.0000 5,448 10,793 16,241 0 0 1,613,485
CFC 9602 B-2 2,753,813 7.7500 2,744 17,785 20,529 0 0 2,751,069
CFC 9705 B-3 2,046,060 7.5000 1,836 12,788 14,624 0 0 2,044,224
CHASE 94E B-2 1,437,066 6.2500 11,017 7,485 18,502 0 0 1,426,049
CHEMPT 9601 B-3 2,307,073 7.2500 2,675 13,939 16,613 0 0 2,304,398
CITIMT 9016 B 3,462,490 9.5000 129,265 27,411 156,676 12,021 0 3,321,204
CITIMT 9205 B 7,148,683 8.0000 174,616 47,658 222,274 0 0 6,974,067
CITIMT 9219 B 9,109,558 7.5000 20,114 56,935 77,049 0 0 9,089,444
CITIMT 9401 B-1 9,524,896 6.5000 31,137 51,593 82,730 0 0 9,493,760
CITIMT 9405 B-1 14,893,004 6.2500 57,871 77,568 135,438 0 0 14,835,133
CITIMT 9407 B-1 8,868,098 6.2500 35,494 46,188 81,682 0 0 8,832,604
CITIMT 9410 B-1 8,216,561 6.2500 43,789 42,794 86,584 0 0 8,172,772
CITIMT 9411 B-1 14,234,710 6.2500 54,663 74,139 128,802 0 0 14,180,047
CITIMT 9413 B-2 1,141,237 6.5000 3,180 6,182 9,361 0 0 1,138,057
CITIMT 9502 B-3 1,250,239 7.5000 1,655 7,814 9,469 0 0 1,248,584
CITIMT 9601 B-1 2,427,583 7.5000 2,462 15,172 17,634 0 0 2,425,121
CITIMT 9703 B-1 1,973,893 7.2500 1,909 11,926 13,835 0 0 1,971,984
CITIMT 9703 B-2 1,973,893 7.2500 1,909 11,926 13,835 0 0 1,971,984
CITIMT 9707 B-1 1,980,453 7.0000 1,867 11,553 13,420 0 0 1,978,585
CWD 94A B-3 1,747,309 6.7500 3,383 9,829 13,212 0 0 1,743,925
CWD 94C B-2 2,716,965 6.5000 13,765 14,717 28,482 0 0 2,703,199
CWD 94G B-1 4,101,114 6.5000 16,772 22,214 38,986 0 0 4,084,342
DLJ 9403 B-1 6,483,905 6.5000 17,468 35,121 52,589 0 0 6,466,438
FBCS 9302R 1 7,609,871 7.4250 38,588 47,086 85,674 0 0 7,571,283
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 7,965,084 6.5000 26,586 37,596 64,182 0 131 6,938,499
GECAP 9416 B-2 2,907,765 6.5000 8,232 15,709 23,941 0 41 2,899,533
GECAP 9427 B-2 2,140,434 6.5000 5,596 11,594 17,190 0 0 2,134,838
GECAP 9507 B-2 4,687,593 7.5000 5,193 29,297 34,490 0 0 4,682,400
GECAP 9615 B-1 3,014,766 7.7500 3,041 19,470 22,512 0 0 3,011,725
GECAP 9616 B-2 2,427,580 7.7500 2,410 15,678 18,088 0 0 2,425,170
GECAP 9701 B-1 3,636,885 7.5000 3,507 22,730 26,237 0 0 3,633,301
GECAP 9702 1-B-2 4,360,567 7.5000 4,238 27,253 31,491 0 0 4,356,330
GECAP 9709 1-B-1 4,646,566 7.2500 4,292 28,073 32,365 0 0 4,642,214
GECAP 9709 1-B-2 3,668,115 7.2500 3,388 22,161 25,550 0 0 3,664,726
GECAP 9709 2-B-2 2,571,892 7.0000 2,388 15,003 17,391 0 0 2,569,503
GECAP 9712 B-1 6,010,844 7.0000 11,478 35,063 46,541 0 0 5,999,366
GECAP 9712 B-2 4,745,402 7.0000 9,061 27,681 36,743 0 0 4,736,341
HMSI 9705 B-2 4,843,477 7.2500 5,075 29,263 34,337 0 0 4,838,402
MORSRV 9602 B-1 1,917,936 7.2500 4,388 11,587 15,976 0 0 1,913,548
MSCAPI 9601 B-2 2,260,344 7.2500 2,585 13,656 16,241 0 0 2,257,759
NSCOR 9604 B-1 4,632,298 7.7500 4,975 29,917 34,892 0 0 4,627,322
NSCOR 9605 B-1 4,434,544 8.0000 4,128 29,564 33,692 0 0 4,430,415
PHMSC 93E 2-B 16,772,865 7.3942 81,389 103,235 184,625 0 117 16,691,475
PHMSC 93L 3-B-3 5,000,000 6.6412 0 27,671 27,671 0 1 5,000,000
PHMSC 94A 5-B 18,851,923 6.8036 70,243 106,820 177,062 0 65 18,781,680
PHMSC 94E 2-B 30,402,273 7.3399 122,391 185,970 308,361 0 (11) 30,279,882
PHMSC 95A 3-B 6,133,619 8.6841 7,462 45,905 53,368 0 (1,518) 6,126,157
PNC 9502 B-3 2,567,789 7.5000 3,024 16,049 19,072 0 0 2,564,765
PNC 9702 B-2 1,725,951 7.5000 1,642 10,787 12,429 0 0 1,724,309
PNC 9705 B-2 2,570,097 7.2500 2,298 15,528 17,826 0 0 2,567,799
PNC 9705 B-3 3,426,797 7.2500 3,065 20,704 23,768 0 0 3,423,732
PWMAC 9307 M-3 1,510,690 7.5000 10,898 9,442 20,340 0 0 1,499,792
PWMAC 9402 M-2 3,071,857 6.5000 15,032 16,639 31,671 0 0 3,056,825
PWMAC 9402 M-3 2,261,960 6.5000 11,069 12,252 23,321 0 0 2,250,891
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 4,373,899 7.2500 4,984 26,434 31,418 0 10 4,371,914
RAST 96A3 B-1-B 6,764,931 7.5000 5,925 42,281 48,206 0 0 6,759,006
RAST 96A4 B-2 4,875,311 7.5000 4,437 30,471 34,907 0 0 4,870,874
RFC 93S10 M-2 1,772,749 8.5000 1,961 12,528 14,488 0 29 1,770,788
RFC 93S18 M-2 5,700,533 7.5000 8,845 35,532 44,377 0 97 5,691,687
RFC 93S18 M-3 3,446,692 7.5000 5,348 21,483 26,832 0 58 3,441,344
RFC 93S21 M-3 2,465,600 7.5000 3,462 15,161 18,623 0 249 2,462,138
RFC 93S22 M-2 3,987,313 7.0000 6,144 23,156 29,300 0 103 3,981,169
RFC 93S22 M-3 2,403,535 7.0000 3,703 13,958 17,662 0 62 2,399,831
RFC 93S24 M-3 3,487,689 7.0000 5,297 20,193 25,489 0 152 3,482,393
RFC 93S26 M-2 5,172,125 7.5000 7,996 32,276 40,271 0 50 5,164,129
RFC 93S26 M-3 3,521,983 7.5000 5,445 21,978 27,423 0 34 3,516,538
RFC 93S27 M-3 1,919,022 7.5000 2,569 11,807 14,377 0 187 1,916,452
RFC 93S28 M-2 2,675,878 7.0000 12,052 15,526 27,579 0 83 2,663,825
RFC 93S28 M-3 1,784,752 7.0000 8,038 10,356 18,394 0 55 1,776,713
RFC 93S34 M-3 1,965,050 7.0000 2,948 11,413 14,362 0 49 1,962,102
RFC 94S3 M-3 1,386,415 6.7269 2,084 7,718 9,802 0 54 1,384,331
RFC 95R20 M-3 3,114,025 7.5000 3,927 19,458 23,384 0 5 3,110,098
RFC 96S10 M-2 6,432,544 7.5000 7,127 40,185 47,312 0 19 6,425,417
RFC 96S14 M-2 3,510,289 7.5000 4,619 21,931 26,550 0 8 3,505,670
RFC 96S14 M-3 1,755,144 7.5000 2,309 10,965 13,275 0 4 1,752,835
RFC 96S16 M-2 4,322,225 7.7500 4,063 27,902 31,965 0 13 4,318,162
RFC 96S18 M-2 2,587,215 8.0000 2,453 17,178 19,632 0 70 2,584,762
RFC 96S23 M-2 3,096,712 7.7500 2,866 20,018 22,883 0 (18) 3,093,846
RFC 96S25 M-2 3,090,620 7.7500 3,152 19,954 23,106 0 6 3,087,468
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 4,423,756 7.5000 20,744 27,648 48,393 0 0 4,403,012
SASCO 9601 B-1 3,087,259 7.2500 3,398 18,652 22,051 0 0 3,083,861
SASCO 9601 B-2 1,587,816 7.2500 1,748 9,593 11,341 0 0 1,586,068
SASCO 9602 B-2 2,408,227 7.0000 8,273 14,048 22,321 0 0 2,399,954
SASI 9405 B-2 4,520,939 7.0000 13,394 26,372 39,766 0 0 4,507,544
SASI 9405 B-3 3,390,704 7.0000 10,046 19,779 29,825 0 0 3,380,659
SASI 9504 B-2 4,201,908 7.5000 4,795 26,262 31,057 0 0 4,197,112
SASI 93J 3-B 14,597,011 6.8080 57,543 82,756 140,299 0 58 14,539,468
SBMSI 92D B-4 2,841,893 8.0143 25,785 18,469 44,254 0 511 2,816,108
SBMSI 9409 B-2 3,984,868 7.0000 5,850 23,245 29,095 0 0 3,979,018
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