Exhibit 99.17
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
January, 2000
GEM Trust 99-01, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of April 1, 1999 (the
"Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
With respect to the Agreement and as of the Determination Date for this month:
A. Mortgage Loan Information:
1. Aggregate scheduled Monthly Payments:
(a) Principal $ 288,889.23
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(b) Interest $ 2,206,869.03
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(c) Total $ 2,495,758.26
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2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 188,935.47
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(b) Interest $ 1,430,262.75
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(c) Total $ 1,619,198.22
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3. Aggregate Monthly Advances this month:
(a) Principal $ 99,953.76
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(b) Interest $ 776,606.28
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(c) Total $ 876,560.04
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4. Aggregate Principal Prepayments in part received in the
applicable Prepayment Period:
(a) Principal $ -37,093.02
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5. Aggregate Principal Prepayments in full received in the
applicable Prepayment Period:
(a) Principal $ 2,254,847.40
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(b) Interest $ 13,515.36
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(c) Total $ 2,268,362.76
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6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
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(b) Interest $ 0.00
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(c) Total $ 0.00
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7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
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(b) Interest $ 0.00
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(c) Total $ 0.00
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8. Aggregate Deficient Valuations with respect to the Mortgage
Loans during the prior month: $ 0.00
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9. Aggregate Debt Service Reductions with respect to the Mortgage
Loans during the prior month: $ 0.00
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10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
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(b) Interest $ 0.00
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(c) Total $ 0.00
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11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 0.00
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(b) Interest $ 0.00
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(c) Total $ 0.00
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12. Pool Scheduled Principal Balance: $ 347,465,789.91
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13. Available Funds: $ 4,653,043.84
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14. Realized Losses for prior month: $ 0.00
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15. Aggregate Realized Losses
(a) Aggregate Realized Losses: $ 0.00
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(b) Deficient Valuations: $ 0.00
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(c) Debt Service Reductions: $ 0.00
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(d) Bankruptcy Losses: $ 0.00
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(e) Special Hazard Losses: $ 0.00
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(f) Fraud Losses: $ 0.00
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(g) Excess Bankruptcy Losses: $ 0.00
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(h) Excess Special Hazard Losses: $ 0.00
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(i) Excess Fraud Losses: $ 0.00
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16. Non-Credit Losses: $ 0.00
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17. Compensating Interest Payment: $ 1,467.37
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18. Total interest payments: $ 2,146,400.21
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19. Interest
Unpaid Class
Accrued Certificate Interest Shortfalls Interest
Class Interest Payable Pay-out Rate
- ----- -------- ------------------- ------- ------------
P $ 0.00 $ 0.00 $ 0.00 % 0.000000000
IA1 $ 576,165.93 $ 0.00 $ 576,165.93 % 6.624999959
IA2 $ 5,541.67 $ 0.00 $ 5,541.67 % 7.000004211
IA3 $ 109,312.50 $ 0.00 $ 109,312.50 % 6.625000000
IA4 $ 7,232.29 $ 0.00 $ 7,232.29 % 6.624998473
IA5 $ 136,789.02 $ 0.00 $ 136,789.02 % 6.625000097
IA6 $ 60,796.63 $ 0.00 $ 60,796.63 % 6.624999864
IA7 $ 4,598.44 $ 0.00 $ 4,598.44 % 6.750003670
IA8 $ 17,520.88 $ 0.00 $ 17,520.88 % 7.276251451
IA9 $ 1,261.17 $ 0.00 $ 1,261.17 % 2.335766739
IA10 $ 1,083.58 $ 0.00 $ 1,083.58 %10.000046144
IIA1 $ 880,716.30 $ 0.00 $ 880,716.30 % 6.999999991
IIA2 $ 0.00 $ 0.00 $ 0.00 % 0.000000000
AR $ 0.00 $ 0.00 $ 0.00 % 0.000000000
X $ 215,458.67 $ 0.00 $ 215,458.67 % 6.625000096
M $ 48,721.17 $ 0.00 $ 48,721.17 % 6.624999438
B1 $ 28,150.01 $ 0.00 $ 28,150.01 % 6.625000657
B2 $ 23,819.24 $ 0.00 $ 23,819.24 % 6.625000288
B3 $ 11,909.62 $ 0.00 $ 11,909.62 % 6.625000272
B4 $ 6,496.16 $ 0.00 $ 6,496.16 % 6.625005030
B5 $ 10,826.94 $ 0.00 $ 10,826.94 % 6.625000078
20. Principal Distribution Amount: $ 2,506,643.61
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21. Principal Distribution Amount per Certificate:
Principal Distribution Accrual Amount
---------------------- --------------
Class P $ 0.00 $ 0.00
Class IA1 $ 822,714.91 $ 0.00
Class IA2 $ 0.00 $ 0.00
Class IA3 $ 0.00 $ 0.00
Class IA4 $ 0.00 $ 0.00
Class IA5 $ 282,135.15 $ 0.00
Class IA6 $ 0.00 $ 0.00
Class IA7 $ 0.00 $ 0.00
Class IA8 $ 0.00 $ 0.00
Class IA9 $ 0.00 $ 0.00
Class IA10 $ 0.00 $ 0.00
Class IIA1 $ 1,315,260.68 $ 0.00
Class IIA2 $ 74,448.71 $ 0.00
Class AR $ 0.00 $ 0.00
Class X $ 0.00 $ 0.00
Class M $ 7,280.81 $ 0.00
Class B1 $ 4,206.69 $ 0.00
Class B2 $ 3,559.51 $ 0.00
Class B3 $ 1,779.75 $ 0.00
Class B4 $ 970.77 $ 0.00
Class B5 $ 1,617.96 $ 0.00
22. Additional distributions to the Class R Certificate pursuant to the
Agreement:
$ 0.00
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23. Additional distributions to the Class RL Certificate pursuant to the
Agreement:
$ 0.00
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24. Subordinate Certificate Writedown Amount: $ 0.00
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Accumulative
Class Supported Shortfall Supported Shortfall
----- ------------------- -------------------
M $ 0.00 $ 0.00
B1 $ 0.00 $ 0.00
B2 $ 0.00 $ 0.00
B3 $ 0.00 $ 0.00
B4 $ 0.00 $ 0.00
B5 $ 0.00 $ 0.00
25. Unanticipated Recoveries: $ 0.00
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26. The Certificate Interest Rate applicable to the Interest Accrual
Period relating to such Distribution Date applicable to any floating
index certificate.
Class Certificate Interest
Rates
Class IA8 % 7.27625145
Class IA9 % 2.33576674
Class IA10 % 10.00004614
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution Triggers satisfied:
Yes No
--- --
Class-M X
Class-B1 X
Class-B2 X
Class-B3 X
Class-B4 X
Class-B5 X
2. Base Servicing Fee amount: $ 79,024.79
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3. Supplemental Servicing Fee amount: $ N/A
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4. Credit Losses for prior month: $ 0.00
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Category A Category B Category C
5. Senior Percentage: %N/A N/A N/A N/A
---- ---- ------ ------
6. Group I Senior Percentage:
%N/A N/A N/A N/A
---- ---- ------ ------
7. Group II Senior Percentage:
%N/A N/A N/A N/A
---- ---- ------ ------
8. Senior Prepayment Percentage:
%N/A N/A N/A N/A
---- ---- ------ ------
9. Group I Senior Prepayment
Percentage: %N/A N/A N/A N/A
---- ---- ------ ------
10. Group II Senior Prepayment
Percentage: %N/A N/A N/A N/A
---- ---- ------ ------
11. Junior Percentage: %N/A
----
12. Junior Prepayment Percentage:
%N/A
----
Capitalized terms used in this Certificate shall have the same meanings as in
the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Tim Neer
-------------------------------
Tim Neer
Vice President
Investor Services