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): May 4, 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 May 4, 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.
(28.26) May 4, 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: May 15, 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
(28.26) May 4, 2000 - Information on Distribution to
Certificateholders
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<TABLE>
May 4, 2000 - INFORMATION ON DISTRIBUTION EXHIBIT 28.26
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 45,545,115 6.75% 34,700 256,191 290,891 0 0 45,510,415 0
A-2 61,174,983 6.75% 624,602 344,109 968,711 0 0 60,550,381 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 55,858,510 6.75% 196,757 314,204 510,961 0 0 55,661,753 0
C 41,776,533 6.75% 147,155 234,993 382,148 0 0 41,629,378 0
D 67,828,191 6.75% 238,920 381,533 620,453 0 0 67,589,272 0
E 39,212,448 6.75% 138,123 220,570 358,693 0 0 39,074,325 0
F 48,745,933 6.75% 171,704 274,196 445,900 0 0 48,574,229 0
G 13,658,280 6.75% 0 76,828 76,828 0 0 13,658,280 48,110
H 14,794,629 6.75% 0 83,220 83,220 18,847 0 14,775,781 52,113
X 469,047,425 0.26% N/A 103,608 103,608 N/A 0 467,476,617 N/A
PO 555,146 N/A 0 0 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 469,047,425 1,551,961 2,741,999 4,293,960 18,847 0 467,476,617 100,223
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 0.581983 4.296782 761.680587
A-2 64,862,910 6.75 073914F32 9.629574 5.305178 931.544326
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 3.204530 5.117352 906.546942
C 45,920,819 6.75 073914C35 3.204530 5.117352 906.546942
D 74,556,836 6.75 073914C43 3.204530 5.117352 906.543942
E 43,083,016 6.75 073914C50 3.205970 5.119651 906.954268
F 53,402,301 6.75 073914C68 3.215289 5.134533 909.590562
G 14,962,963 6.75 073914C76 0.000000 5.134533 912.805851
H 16,510,861 6.75 PRIVATE 0.000000 5.040306 894.912834
X 515,964,267 0.26 073914C84 0.000000 0.200804 906.025178
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 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 8,839,369 8.2182 142,308 61,299 203,607 0 212 8,839,369
BSMSI 9308 M 16,330,569 7.5000 26,451 102,231 128,682 0 0 16,330,569
CAPPTC 94C B-1 5,276,821 6.7500 9,541 29,736 39,276 0 0 5,276,821
CFC 9301 B-1 16,670,636 7.1250 72,049 99,410 171,459 0 0 16,670,636
CFC 9401 B-1 7,910,599 6.8750 27,120 45,476 75,596 0 0 7,910,599
CFC 9409 B-2 3,013,617 6.5000 8,487 16,370 24,857 0 0 3,013,617
CFC 9418 B-3 1,607,838 8.0000 3,217 10,740 13,958 0 0 1,607,838
CFC 9602 B-2 2,745,640 7.7500 2,707 17,750 20,457 0 0 2,745,640
CFC 9705 B-3 2,040,494 7.5000 1,872 12,765 14,636 0 0 2,040,494
CHASE 94E B-2 1,392,268 6.2500 17,616 7,343 24,959 0 0 1,392,268
CHEMPT 9601 B-3 2,298,975 7.2500 2,725 13,906 16,631 0 0 2,298,975
CITIMT 9016 B 3,111,779 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 8,697,695 7.5000 132,453 55,187 187,640 0 0 8,697,695
CITIMT 9401 B-1 9,397,250 6.5000 40,383 51,120 91,504 0 0 9,397,250
CITIMT 9405 B-1 14,752,717 6.2500 34,512 77,017 111,529 0 0 14,752,716
CITIMT 9407 B-1 8,784,720 6.2500 32,572 45,923 78,496 0 0 8,784,720
CITIMT 9410 B-1 8,057,703 6.2500 57,252 42,265 99,517 0 0 8,057,704
CITIMT 9411 B-1 14,089,681 6.2500 56,639 73,679 130,317 0 0 14,146,320
CITIMT 9413 B-2 1,128,539 6.5000 6,960 6,151 13,111 0 0 1,128,539
CITIMT 9502 B-3 1,245,236 7.5000 1,681 7,793 9,474 0 0 1,245,236
CITIMT 9601 B-1 2,420,127 7.5000 2,510 15,141 17,652 0 0 2,420,127
CITIMT 9703 B-1 1,968,104 7.2500 1,950 11,902 13,852 0 0 1,968,104
CITIMT 9703 B-2 1,968,104 7.2500 1,950 11,902 13,852 0 0 1,968,104
CITIMT 9707 B-1 1,974,845 7.0000 1,858 11,531 13,388 0 0 1,974,845
CWD 94A B-3 1,733,990 6.7500 6,159 9,788 15,948 0 0 1,733,990
CWD 94C B-2 2,689,307 6.5000 5,526 14,597 20,123 0 0 2,689,307
CWD 94G B-1 4,054,542 6.5000 10,056 22,017 32,072 0 0 4,054,542
DLJ 9403 B-1 6,418,977 6.5000 27,588 34,769 62,357 0 0 6,391,389
FBCS 9302R 1 7,491,597 7.4250 22,489 46,354 68,843 0 0 7,450,437
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 6,892,402 6.5000 28,181 37,194 65,375 0 140 6,864,222
GECAP 9416 B-2 2,878,205 6.5000 11,051 15,527 26,579 0 63 2,867,154
GECAP 9427 B-2 2,121,146 6.5000 7,005 11,489 22,720 0 0 2,109,916
GECAP 9507 B-2 4,671,626 7.5000 11,231 29,198 34,675 0 0 4,666,148
GECAP 9615 B-1 3,005,592 7.7500 3,022 19,411 22,433 0 0 3,002,570
GECAP 9616 B-2 2,392,210 7.7500 2,499 15,450 17,949 0 0 2,389,710
GECAP 9701 B-1 3,626,217 7.5000 3,586 22,664 26,250 0 0 3,622,631
GECAP 9702 1-B-2 4,347,546 7.5000 8,836 27,172 36,009 0 0 4,338,710
GECAP 9709 1-B-1 4,633,542 7.2500 4,394 27,994 32,388 0 0 4,629,148
GECAP 9709 1-B-2 3,657,880 7.2500 3,469 22,100 25,568 0 0 3,654,411
GECAP 9709 2-B-2 2,557,860 7.0000 2,420 14,921 17,340 0 0 2,555,441
GECAP 9712 B-1 5,988,072 7.0000 5,738 34,930 40,668 0 0 5,982,334
GECAP 9712 B-2 4,727,425 7.0000 4,530 27,577 32,106 0 0 4,722,895
HMSI 9705 B-2 4,828,042 7.2500 5,321 29,169 34,491 0 0 4,822,721
MORSRV 9602 B-1 1,904,681 7.2500 4,481 11,507 15,988 0 0 1,900,201
MSCAPI 9601 B-2 2,252,512 7.2500 2,665 13,609 16,274 0 0 2,249,847
NSCOR 9604 B-1 4,617,178 7.7500 5,134 29,819 34,954 0 0 4,612,043
NSCOR 9605 B-1 4,421,966 8.0000 4,278 29,480 33,758 0 0 4,417,688
PHMSC 93E 2-B 16,544,683 7.3942 94,032 101,828 195,860 0 118 16,450,651
PHMSC 93L 3-B-3 5,000,000 6.6412 0 27,671 27,671 0 1 5,000,000
PHMSC 94A 5-B 18,657,163 6.8036 79,756 105,711 185,467 0 69 18,557,407
PHMSC 94E 2-B 30,088,401 7.3399 143,744 184,030 327,774 0 9 29,944,658
PHMSC 95A 3-B 6,107,870 8.6841 15,089 45,714 60,804 0 (1,513) 9,092,780
PNC 9502 B-3 2,558,567 7.5000 3,177 15,991 19,168 0 0 2,555,390
PNC 9702 B-2 1,700,109 7.5000 1,661 10,626 12,287 0 0 1,698,448
PNC 9705 B-2 2,563,117 7.2500 2,386 15,485 17,871 0 0 2,560,731
PNC 9705 B-3 3,417,489 7.2500 3,181 20,647 23,828 0 0 3,414,309
PWMAC 9307 M-3 1,483,764 7.5000 2,694 9,273 11,968 0 0 1,481,070
PWMAC 9402 M-2 3,039,955 6.5000 15,720 16,466 32,187 0 0 3,024,235
PWMAC 9402 M-3 2,238,469 6.5000 11,576 12,125 23,701 0 0 2,226,893
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 4,364,561 7.2500 3,990 26,355 30,346 0 14 4,360,570
RAST 96A3 B-1-B 6,740,119 7.5000 6,096 42,126 48,222 0 0 6,734,023
RAST 96A4 B-2 4,861,949 7.5000 41,351 30,387 71,738 0 0 4,820,598
RFC 93S10 M-2 1,766,106 8.5000 10,625 12,345 22,969 0 165 1,755,481
RFC 93S18 M-2 5,655,015 7.5000 8,906 35,074 43,981 0 270 5,646,109
RFC 93S18 M-3 3,419,171 7.5000 5,385 21,207 26,592 0 163 3,413,786
RFC 93S21 M-3 2,455,017 7.5000 3,591 15,273 18,865 0 70 2,451,426
RFC 93S22 M-2 3,968,701 7.0000 6,314 23,111 29,425 0 40 3,962,386
RFC 93S22 M-3 2,392,316 7.0000 3,806 13,931 17,738 0 24 2,388,509
RFC 93S24 M-3 3,471,583 7.0000 5,495 20,212 25,707 0 39 3,466,088
RFC 93S26 M-2 5,148,006 7.5000 20,551 31,827 52,378 0 348 5,127,456
RFC 93S26 M-3 3,505,560 7.5000 13,994 21,673 35,667 0 237 3,491,566
RFC 93S27 M-3 1,901,921 7.5000 2,596 11,749 14,345 0 138 1,899,325
RFC 93S28 M-2 2,651,380 7.0000 9,206 15,410 26,616 0 56 2,642,175
RFC 93S28 M-3 1,768,413 7.0000 6,140 10,278 16,418 0 37 1,762,273
RFC 93S34 M-3 1,956,153 7.0000 2,943 11,342 14,285 0 69 1,953,210
RFC 94S3 M-3 1,380,148 6.7269 2,121 7,672 9,794 0 65 1,378,026
RFC 95R20 M-3 3,102,233 7.5000 0 0 0 0 19,389 3,102,233
RFC 96S10 M-2 6,410,862 7.5000 7,421 40,050 47,471 0 18 6,403,441
RFC 96S14 M-2 3,496,240 7.5000 4,750 21,845 26,595 0 7 3,491,490
RFC 96S14 M-3 1,748,120 7.5000 2,375 10,923 13,298 0 3 1,745,745
RFC 96S16 M-2 4,309,798 7.7500 4,224 27,830 32,053 0 4 4,305,574
RFC 96S18 M-2 2,574,662 8.0000 2,528 17,160 19,688 0 5 2,572,134
RFC 96S23 M-2 3,088,084 7.7500 2,943 19,939 22,882 0 5 3,085,140
RFC 96S25 M-2 3,081,121 7.7500 3,146 19,846 22,992 0 53 3,077,974
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 4,366,676 7.5000 26,099 27,292 53,390 0 0 4,340,577
SASCO 9601 B-1 3,076,984 7.2500 3,470 18,590 22,060 0 0 3,073,514
SASCO 9601 B-2 1,582,531 7.2500 1,785 9,561 11,346 0 0 1,580,746
SASCO 9602 B-2 2,392,725 7.0000 4,174 13,958 18,132 0 0 2,388,551
SASI 9405 B-2 4,480,783 7.0000 15,798 26,138 41,936 0 0 4,464,984
SASI 9405 B-3 3,360,587 7.0000 11,849 19,603 31,452 0 0 3,348,739
SASI 9504 B-2 4,187,497 7.5000 4,946 26,172 31,118 0 0 4,182,551
SASI 93J 3-B 14,425,940 6.8080 57,820 81,781 139,601 0 63 14,368,120
SBMSI 92D B-4 2,769,769 8.0143 36,041 17,963 54,004 0 536 2,733,728
SBMSI 9409 B-2 3,897,578 7.0000 13,241 22,736 35,977 0 0 3,884,337
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