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 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 January 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.
(28.22) January 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: January 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
(28.22) January 3, 2000 - Information on Distribution to
Certificateholders
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<TABLE>
January 3, 2000 - INFORMATION ON DISTRIBUTION EXHIBIT 28.22
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 45,701,705 6.75% 37,188 257,072 294,261 0 0 45,664,517 0
A-2 63,993,605 6.75% 669,392 359,964 1,029,356 0 0 63,324,213 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 56,659,895 6.75% 210,545 318,712 529,257 0 0 56,449,350 0
C 42,375,888 6.75% 157,467 238,364 395,831 0 0 42,218,421 0
D 68,801,302 6.75% 255,662 387,007 642,669 0 0 68,545,640 0
E 39,757,154 6.75% 147,735 223,633 371,369 0 0 39,609,418 0
F 49,279,825 6.75% 183,121 277,199 460,320 0 0 49,096,704 0
G 13,807,873 6.75% 51,309 77,669 128,979 0 0 13,756,564 0
H 15,236,525 6.75% 56,603 85,705 142,308 996 0 15,179,922 996.55
X 476,066,573 0.43% N/A 170,081 170,081 N/A 0 474,297,550 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 0 0 0.00 0 0 N/A
R-3 0 6.75% 0 0 0 0.00 0 0 N/A
Totals 476,066,573 1,769,023 2,847,955 4,616,978 996 0 474,297,550 996.55
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 0.622401 4.302462 764.259696
A-2 64,862,910 6.75 073914F32 10.298335 5.537908 974.218665
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 3.429088 5.190769 919.374310
C 45,920,819 6.75 073914C35 3.429088 5.190769 919.374310
D 74,556,836 6.75 073914C43 3.429088 5.190769 919.374309
E 43,083,016 6.75 073914C50 3.429088 5.190769 919.374310
F 53,402,301 6.75 073914C68 3.429088 5.190769 919.374310
G 14,962,963 6.75 073914C76 3.429088 5.190769 919.374310
H 16,510,861 6.75 PRIVATE 3.429088 5.190853 919.390086
X 515,964,267 0.43 073914C84 0.000000 0.329637 919.244957
PO 2,008,801 N/A PRIVATE 0.000001 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 9,339,069 8.2182 193,831 63,497 257,328 0 462 9,145,238
BSMSI 9308 M 16,543,940 7.5000 67,276 103,400 170,676 0 0 16,476,664
CAPPTC 94C B-1 5,335,273 6.7500 19,813 30,011 48,824 0 0 5,315,459
CFC 9301 B-1 16,981,940 7.1250 52,248 100,830 153,078 0 0 16,929,693
CFC 9401 B-1 8,014,371 6.8750 24,614 45,916 70,530 0 0 7,989,757
CFC 9409 B-2 3,054,260 6.5000 10,610 16,544 27,154 0 0 3,043,649
CFC 9418 B-3 1,628,047 8.0000 9,114 10,854 19,967 0 0 1,618,933
CFC 9602 B-2 2,756,538 7.7500 2,725 17,803 20,527 0 0 2,753,813
CFC 9705 B-3 2,047,872 7.5000 1,812 12,799 14,611 0 0 2,046,060
CHASE 94E B-2 1,447,582 6.2500 10,515 7,539 18,055 0 0 1,437,066
CHEMPT 9601 B-3 2,309,724 7.2500 2,651 13,955 16,606 0 0 2,307,073
CITIMT 9016 B 3,535,561 9.5000 73,071 27,990 101,061 0 0 3,462,490
CITIMT 9205 B 7,371,334 8.0000 222,651 49,142 271,793 0 0 7,148,683
CITIMT 9219 B 9,109,558 7.5000 0 56,935 56,935 0 0 9,109,558
CITIMT 9401 B-1 9,564,805 6.5000 39,909 51,809 91,719 0 0 9,524,896
CITIMT 9405 B-1 14,955,959 6.2500 62,955 77,896 140,851 0 0 14,893,004
CITIMT 9407 B-1 8,898,776 6.2500 30,678 46,348 77,026 0 0 8,868,098
CITIMT 9410 B-1 8,277,138 6.2500 60,577 43,110 103,687 0 0 8,216,561
CITIMT 9411 B-1 14,330,715 6.2500 96,005 74,639 170,644 0 0 14,234,710
CITIMT 9413 B-2 1,146,484 6.5000 5,247 6,210 11,457 0 0 1,141,237
CITIMT 9502 B-3 1,251,893 7.5000 1,654 7,824 9,478 0 0 1,250,239
CITIMT 9601 B-1 2,430,020 7.5000 2,437 15,188 17,624 0 0 2,427,583
CITIMT 9703 B-1 1,975,785 7.2500 1,892 11,937 13,829 0 0 1,973,893
CITIMT 9703 B-2 1,975,785 7.2500 1,892 11,937 13,829 0 0 1,973,893
CITIMT 9707 B-1 1,982,302 7.0000 1,849 11,563 13,413 0 0 1,980,453
CWD 94A B-3 1,750,159 6.7500 2,850 9,845 12,695 0 0 1,747,309
CWD 94C B-2 2,724,493 6.5000 7,528 14,758 22,286 0 0 2,716,965
CWD 94G B-1 4,113,276 6.5000 12,162 22,280 34,443 0 0 4,101,114
DLJ 9403 B-1 6,498,215 6.5000 14,310 35,199 49,508 0 0 6,483,905
FBCS 9302R 1 7,649,159 7.4250 39,288 47,329 86,618 0 0 7,609,871
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 7,005,222 6.5000 40,138 37,674 77,811 0 271 6,965,084
GECAP 9416 B-2 2,914,383 6.5000 6,618 15,762 22,380 0 24 2,907,765
GECAP 9427 B-2 2,147,681 6.5000 7,247 11,633 18,880 0 0 2,140,434
GECAP 9507 B-2 4,692,772 7.5000 5,179 29,330 34,508 0 0 4,687,593
GECAP 9615 B-1 3,017,774 7.7500 3,008 19,490 22,498 0 0 3,014,766
GECAP 9616 B-2 2,429,980 7.7500 2,400 15,694 18,094 0 0 2,427,580
GECAP 9701 B-1 3,640,265 7.5000 3,457 22,752 26,208 0 0 3,636,808
GECAP 9702 1-B-2 4,364,813 7.5000 4,246 27,280 31,526 0 0 4,360,567
GECAP 9709 1-B-1 4,656,666 7.2500 10,159 28,134 38,293 0 0 4,646,506
GECAP 9709 1-B-2 3,676,135 7.2500 8,020 22,210 30,230 0 0 3,668,115
GECAP 9709 2-B-2 2,574,236 7.0000 2,345 15,017 17,361 0 0 2,571,892
GECAP 9712 B-1 6,016,363 7.0000 5,519 35,095 40,615 0 0 6,010,844
GECAP 9712 B-2 4,749,760 7.0000 4,357 27,707 32,064 0 0 4,745,402
HMSI 9705 B-2 4,848,436 7.2500 4,959 29,293 34,252 0 0 4,843,477
MORSRV 9602 B-1 1,922,293 7.2500 4,356 11,614 15,970 0 0 1,917,936
MSCAPI 9601 B-2 2,262,884 7.2500 2,541 13,671 16,212 0 0 2,260,344
NSCOR 9604 B-1 4,673,216 7.7500 4,919 29,949 34,868 0 0 4,632,298
NSCOR 9605 B-1 4,438,641 8.0000 4,097 29,591 33,688 0 0 4,434,544
PHMSC 93E 2-B 16,858,468 7.3942 85,603 103,764 189,367 0 116 16,772,865
PHMSC 93L 3-B-3 5,000,000 6.6412 0 27,670 27,670 0 1 5,000,000
PHMSC 94A 5-B 18,927,704 6.8036 75,781 107,256 183,037 0 58 18,851,923
PHMSC 94E 2-B 30,475,152 7.3399 72,879 186,417 259,296 0 (12) 30,402,273
PHMSC 95A 3-B 6,141,087 8.6841 7,468 45,961 53,430 0 (1,520) 6,133,619
PNC 9502 B-3 2,570,858 7.5000 3,069 16,068 19,136 0 0 2,567,789
PNC 9702 B-2 1,727,580 7.5000 1,629 10,797 12,426 0 0 1,725,951
PNC 9705 B-2 2,572,370 7.2500 2,273 15,541 17,814 0 0 2,570,097
PNC 9705 B-3 3,429,828 7.2500 3,031 20,722 23,752 0 0 3,426,797
PWMAC 9307 M-3 1,516,054 7.5000 5,364 9,475 14,839 0 0 1,510,690
PWMAC 9402 M-2 3,081,277 6.5000 9,420 16,690 26,111 0 0 3,071,857
PWMAC 9402 M-3 2,268,897 6.5000 6,937 12,290 19,226 0 0 2,261,960
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 4,380,458 7.2500 3,559 26,455 30,014 0 10 4,373,899
RAST 96A3 B-1-B 6,775,304 7.5000 10,373 42,346 52,719 0 0 6,764,931
RAST 96A4 B-2 4,879,738 7.5000 4,427 30,498 34,925 0 0 4,875,311
RFC 93S10 M-2 1,774,843 8.5000 2,094 12,489 14,583 0 83 1,772,749
RFC 93S18 M-2 5,709,105 7.5000 8,572 35,254 43,826 0 428 5,700,533
RFC 93S18 M-3 3,451,875 7.5000 5,183 21,316 26,499 0 259 3,446,692
RFC 93S21 M-3 2,469,039 7.5000 3,438 15,317 18,755 0 115 2,465,600
RFC 93S22 M-2 3,993,427 7.0000 6,114 23,182 29,296 0 113 3,987,313
RFC 93S22 M-3 2,407,221 7.0000 3,850 13,974 17,659 0 68 2,403,535
RFC 93S24 M-3 3,492,976 7.0000 5,286 20,267 25,554 0 108 3,487,689
RFC 93S26 M-2 5,195,829 7.5000 23,704 32,404 56,109 0 69 5,172,125
RFC 93S26 M-3 3,538,125 7.5000 16,142 22,066 38,208 0 47 3,521,983
RFC 93S27 M-3 1,921,575 7.5000 2,553 11,797 14,350 0 213 1,919,022
RFC 93S28 M-2 2,680,338 7.0000 4,461 15,630 20,090 0 6 2,675,878
RFC 93S28 M-3 1,787,727 7.0000 2,975 10,425 13,400 0 3 1,784,752
RFC 93S34 M-3 1,967,974 7.0000 2,924 11,420 14,344 0 60 1,965,050
RFC 94S3 M-3 1,388,471 6.7269 2,057 7,720 9,777 0 63 1,386,415
RFC 95R20 M-3 3,117,919 7.5000 3,894 19,481 23,375 0 6 3,114,025
RFC 96S10 M-2 6,445,291 7.5000 12,747 40,270 53,017 0 13 6,432,544
RFC 96S14 M-2 3,514,889 7.5000 4,600 21,940 26,540 0 28 3,510,289
RFC 96S14 M-3 1,757,444 7.5000 2,300 10,970 13,270 0 14 1,755,144
RFC 96S16 M-2 4,338,123 7.7500 15,898 28,013 43,912 0 4 4,322,225
RFC 96S18 M-2 2,589,595 8.0000 2,380 17,261 19,641 0 3 2,587,215
RFC 96S23 M-2 3,099,517 7.7500 2,805 19,991 22,797 0 26 3,096,712
RFC 96S25 M-2 3,093,713 7.7500 3,093 19,971 23,064 0 10 3,090,620
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 10,324 10,324 0 46 1,500,000
RYLPT 9304 B-2 4,441,964 7.5000 18,209 27,762 45,971 0 0 4,423,756
SASCO 9601 B-1 3,090,608 7.2500 3,348 18,672 22,021 0 0 3,087,259
SASCO 9601 B-2 1,589,538 7.2500 1,722 9,603 11,326 0 0 1,587,816
SASCO 9602 B-2 2,408,227 7.0000 0 14,048 14,048 0 0 2,408,227
SASI 9405 B-2 4,535,478 7.0000 14,539 26,457 40,996 0 0 4,520,939
SASI 9405 B-3 3,401,609 7.0000 10,904 19,843 30,747 0 0 3,390,704
SASI 9504 B-2 4,206,578 7.5000 4,670 26,291 30,961 0 0 4,201,908
SASI 93J 3-B 14,649,786 6.8080 52,775 83,055 135,830 0 58 14,597,011
SBMSI 92D B-4 2,874,533 8.0143 32,640 18,516 51,156 0 682 2,841,893
SBMSI 9409 B-2 3,990,645 7.0000 5,777 23,279 29,056 0 0 3,984,868
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