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): March 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 March 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.
(28.24) March 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: March 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
(28.24) March 3, 2000 - Information on Distribution to
Certificateholders
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<TABLE>
March 3, 2000 - INFORMATION ON DISTRIBUTION EXHIBIT 28.24
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 45,628,713 6.75% 35,903 256,661 292,565 0 0 45,592,810 0
A-2 62,679,744 6.75% 646,260 352,573 998,833 0 0 62,033,484 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 56,249,327 6.75% 203,279 316,402 519,681 0 0 56,046,048 0
C 42,068,824 6.75% 152,032 236,637 388,669 0 0 41,916,792 0
D 68,302,755 6.75% 246,839 384,203 631,042 0 0 68,055,916 0
E 39,469,066 6.75% 142,637 222,013 364,651 0 0 39,326,429 0
F 48,922,734 6.75% 176,802 275,190 451,992 0 0 48,745,933 0
G 13,707,819 6.75% 49,539 77,106 126,645 0 0 13,658,280 0
H 15,126,133 6.75% 54,649 85,084 139,733 0 0 15,071,484 15
X 472,607,919 0.43% N/A 169,769 169,769 N/A 0 470,899,979 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 .00 0 0.00 0 0 N/A
R-3 0 6.75% 0 .00 0 0.00 0 0 N/A
Totals 472,607,919 1,707,940 2,828,189 4,536,128 0 0 470,899,979 15
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 0.600892 4.295590 763.059576
A-2 64,862,910 6.75 073914F32 9.942460 5.424209 954.361292
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 3.310748 5.153156 912.805852
C 45,920,819 6.75 073914C35 3.310748 5.153156 912.805851
D 74,556,836 6.75 073914C43 3.310748 5.153156 912.805851
E 43,083,016 6.75 073914C50 3.310748 5.153156 912.805851
F 53,402,301 6.75 073914C68 3.310748 5.153156 912.805851
G 14,962,963 6.75 073914C76 3.310749 5.153244 912.805851
H 16,510,861 6.75 PRIVATE 3.309884 5.153244 912.822436
X 515,964,267 0.43 073914C84 0.000000 0.329034 912.660060
PO 2,008,801 N/A PRIVATE 0.000020 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 9,051,421 8.2182 69,744 61,780 131,524 0 209 8,981,677
BSMSI 9308 M 16,434,092 7.5000 77,072 102,713 179,785 0 0 16,357,020
CAPPTC 94C B-1 5,302,221 6.7500 15,859 29,825 45,684 0 0 5,286,362
CFC 9301 B-1 16,818,425 7.1250 75,740 99,859 175,600 0 0 16,742,684
CFC 9401 B-1 7,967,854 6.8750 30,136 45,649 75,785 0 0 7,937,718
CFC 9409 B-2 3,034,858 6.5000 12,754 16,439 29,193 0 0 3,022,104
CFC 9418 B-3 1,613,485 8.0000 2,429 10,757 13,186 0 0 1,611,056
CFC 9602 B-2 2,751,069 7.7500 2,722 17,767 20,489 0 0 2,748,347
CFC 9705 B-3 2,044,224 7.5000 1,859 12,776 14,635 0 0 2,042,365
CHASE 94E B-2 1,426,049 6.2500 16,165 7,427 23,593 0 0 1,409,884
CHEMPT 9601 B-3 2,304,398 7.2500 2,699 13,922 16,621 0 0 2,301,700
CITIMT 9016 B 3,321,204 9.5000 89,301 26,293 115,594 0 0 3,231,902
CITIMT 9205 B 6,974,067 8.0000 0 46,494 46,494 0 0 6,974,067
CITIMT 9219 B 9,089,444 7.5000 259,295 56,809 316,104 0 0 8,830,148
CITIMT 9401 B-1 9,493,760 6.5000 56,126 51,424 107,551 0 0 9,437,633
CITIMT 9405 B-1 14,835,133 6.2500 47,905 77,266 125,171 0 0 14,787,228
CITIMT 9407 B-1 8,832,604 6.2500 15,312 46,003 61,315 0 0 8,817,292
CITIMT 9410 B-1 8,172,772 6.2500 57,816 42,566 100,383 0 0 8,114,955
CITIMT 9411 B-1 14,180,047 6.2500 33,727 73,854 107,581 0 0 14,146,320
CITIMT 9413 B-2 1,138,057 6.5000 2,559 6,165 8,723 0 0 1,135,499
CITIMT 9502 B-3 1,248,585 7.5000 1,667 7,804 9,471 0 0 1,246,917
CITIMT 9601 B-1 2,425,121 7.5000 2,484 15,157 17,641 0 0 2,422,637
CITIMT 9703 B-1 1,971,984 7.2500 1,930 11,914 13,844 0 0 1,970,054
CITIMT 9703 B-2 1,971,984 7.2500 1,930 11,914 13,844 0 0 1,970,054
CITIMT 9707 B-1 1,978,585 7.0000 1,882 11,542 13,424 0 0 1,976,703
CWD 94A B-3 1,743,925 6.7500 3,776 9,809 13,585 0 0 1,740,150
CWD 94C B-2 2,703,199 6.5000 8,366 14,642 23,009 0 0 2,694,833
CWD 94G B-1 4,084,342 6.5000 19,744 22,123 41,868 0 0 4,064,598
DLJ 9403 B-1 6,466,438 6.5000 21,352 35,026 56,378 0 0 6,445,086
FBCS 9302R 1 7,571,283 7.4250 39,145 46,847 85,992 0 0 7,532,137
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 6,938,499 6.5000 21,073 37,501 58,575 0 82 6,917,425
GECAP 9416 B-2 2,899,533 6.5000 8,082 15,687 23,769 0 19 2,891,451
GECAP 9427 B-2 2,134,838 6.5000 6,686 11,564 18,250 0 0 2,128,152
GECAP 9507 B-2 4,682,400 7.5000 5,360 29,265 34,624 0 0 4,677,041
GECAP 9615 B-1 3,011,725 7.7500 3,071 19,451 22,521 0 0 3,008,654
GECAP 9616 B-2 2,425,170 7.7500 15,902 15,663 31,565 0 0 2,409,268
GECAP 9701 B-1 3,633,301 7.5000 3,538 22,708 26,246 0 0 3,629,764
GECAP 9702 1-B-2 4,356,330 7.5000 4,378 27,227 31,605 0 0 4,351,951
GECAP 9709 1-B-1 4,642,214 7.2500 4,315 28,047 32,362 0 0 4,637,900
GECAP 9709 1-B-2 3,664,726 7.2500 3,406 22,141 25,547 0 0 3,661,320
GECAP 9709 2-B-2 2,569,503 7.0000 2,382 14,989 17,371 0 0 2,567,121
GECAP 9712 B-1 5,999,366 7.0000 5,634 34,996 40,630 0 0 5,993,732
GECAP 9712 B-2 4,736,341 7.0000 4,448 27,629 32,077 0 0 4,731,893
HMSI 9705 B-2 4,838,402 7.2500 5,148 29,232 34,380 0 0 4,833,254
MORSRV 9602 B-1 1,913,548 7.2500 4,427 11,561 15,988 0 0 1,909,121
MSCAPI 9601 B-2 2,257,759 7.2500 2,610 13,641 16,250 0 0 2,255,149
NSCOR 9604 B-1 4,627,322 7.7500 5,050 29,885 34,934 0 0 4,622,273
NSCOR 9605 B-1 4,430,415 8.0000 4,198 29,536 33,734 0 0 4,426,217
PHMSC 93E 2-B 16,691,475 7.3942 71,903 102,733 174,636 0 118 16,619,572
PHMSC 93L 3-B-3 5,000,000 6.6412 0 27,671 27,671 0 1 5,000,000
PHMSC 94A 5-B 18,781,680 6.8036 65,344 106,417 171,762 0 69 18,716,335
PHMSC 94E 2-B 30,279,882 7.3399 81,374 185,213 266,586 0 (2) 30,198,508
PHMSC 95A 3-B 6,126,157 8.6841 7,619 45,850 53,469 0 (1,516) 6,118,538
PNC 9502 B-3 2,564,765 7.5000 3,050 16,030 19,079 0 0 2,561,715
PNC 9702 B-2 1,724,309 7.5000 9,844 10,777 20,621 0 0 1,714,464
PNC 9705 B-2 2,567,799 7.2500 2,322 15,514 17,836 0 0 2,565,476
PNC 9705 B-3 3,423,732 7.2500 3,097 20,685 23,782 0 0 3,420,636
PWMAC 9307 M-3 1,499,792 7.5000 13,424 9,374 22,798 0 0 1,486,367
PWMAC 9402 M-2 3,056,825 6.5000 7,661 16,558 24,219 0 0 3,049,164
PWMAC 9402 M-3 2,250,891 6.5000 5,641 12,193 17,834 0 0 2,245,250
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 4,371,914 7.2500 3,666 26,404 30,070 0 10 4,368,249
RAST 96A3 B-1-B 6,759,006 7.5000 11,749 42,244 53,993 0 0 6,747,257
RAST 96A4 B-2 4,870,874 7.5000 4,428 30,380 34,808 0 63 4,866,446
RFC 93S10 M-2 1,770,788 8.5000 2,141 12,543 14,684 0 0 1,768,648
RFC 93S18 M-2 5,691,687 7.5000 27,632 35,446 63,078 0 127 5,664,055
RFC 93S18 M-3 3,441,344 7.5000 16,707 21,431 38,138 0 77 3,424,637
RFC 93S21 M-3 2,462,138 7.5000 3,556 15,341 18,897 0 47 2,458,581
RFC 93S22 M-2 3,981,169 7.0000 6,226 23,182 29,408 0 41 3,974,943
RFC 93S22 M-3 2,399,831 7.0000 3,753 13,974 17,727 0 25 2,396,079
RFC 93S24 M-3 3,482,393 7.0000 5,378 20,258 25,636 0 56 3,477,015
RFC 93S26 M-2 5,164,129 7.5000 8,052 32,108 40,160 0 168 5,156,077
RFC 93S26 M-3 3,516,538 7.5000 5,483 21,864 27,347 0 114 3,511,055
RFC 93S27 M-3 1,916,452 7.5000 2,649 11,974 14,624 0 4 1,913,803
RFC 93S28 M-2 2,663,825 7.0000 4,885 15,528 20,413 0 11 2,658,940
RFC 93S28 M-3 1,776,713 7.0000 3,258 10,357 13,615 0 7 1,773,455
RFC 93S34 M-3 1,962,102 7.0000 2,973 11,402 14,375 0 43 1,959,129
RFC 94S3 M-3 1,384,331 6.7269 2,070 7,719 9,789 0 41 1,382,260
RFC 95R20 M-3 3,110,098 7.5000 3,912 19,432 23,344 0 7 3,106,186
RFC 96S10 M-2 6,425,417 7.5000 7,236 40,139 47,375 0 19 6,418,181
RFC 96S14 M-2 3,505,700 7.5000 4,705 21,893 26,598 0 18 3,500,965
RFC 96S14 M-3 1,752,835 7.5000 2,352 10,946 13,299 0 9 1,750,482
RFC 96S16 M-2 4,318,162 7.7500 4,169 27,875 32,043 0 13 4,313,993
RFC 96S18 M-2 2,584,762 8.0000 7,568 17,229 24,797 0 3 2,577,193
RFC 96S23 M-2 3,093,846 7.7500 2,884 19,973 22,857 0 8 3,090,963
RFC 96S25 M-2 3,087,468 7.7500 3,152 19,923 23,076 0 17 3,084,315
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 4,403,012 7.5000 22,350 27,519 49,869 0 0 4,380,662
SASCO 9601 B-1 3,083,861 7.2500 3,425 18,632 22,057 0 0 3,080,436
SASCO 9601 B-2 1,586,068 7.2500 1,761 9,582 11,344 0 0 1,584,306
SASCO 9602 B-2 2,399,954 7.0000 3,576 14,000 17,576 0 0 2,396,378
SASI 9405 B-2 4,507,544 7.0000 14,138 26,294 40,432 0 0 4,493,406
SASI 9405 B-3 3,380,659 7.0000 10,603 19,721 30,324 0 0 3,370,055
SASI 9504 B-2 4,197,112 7.5000 4,805 26,232 31,037 0 0 4,192,307
SASI 93J 3-B 14,539,468 6.8080 63,435 82,428 145,863 0 60 14,476,033
SBMSI 92D B-4 2,816,108 8.0143 15,524 18,364 33,888 0 444 2,800,583
SBMSI 9409 B-2 3,979,018 7.0000 65,263 23,211 88,474 0 0 3,913,754
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