Exhibit 99.08
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
February, 2000
Series 1999-03, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of March 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:
Weighted average coupon % 7.159092
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Weighted average maturity 344.64
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A. Amount of distribution allocable to principal and interest:
The amounts below are for a Single Certificate of $1,000:
1.
Principal
Principal Per Prepayments Per Interest Per
Class Certificate Certificate Certificate Payout Rate
----- ----------- ----------- ----------- -----------
PO $ 1.18491729 $ 0.17496410 $ 0.00000000 %0.00000000
A1 $ 6.44704478 $ 5.28110993 $ 4.92880022 %6.49999997
A2 $ 0.00000000 $ 0.00000000 $ 5.41666606 %6.49999927
A3 $ 0.00000000 $ 0.00000000 $ 5.46979176 %6.56375012
A4 $ 0.00000000 $ 0.00000000 $ 5.04277590 %6.05133108
A5 $ 0.00000000 $ 0.00000000 $ 5.41666660 %6.49999992
A6 $ 0.00000000 $ 0.00000000 $ 5.41666667 %6.50000000
A7 $ 0.00000000 $ 0.00000000 $ 5.41666667 %6.50000000
A8 $ 0.00000000 $ 0.00000000 $ 5.41666500 %6.49999800
A9 $ 0.00000000 $ 0.00000000 $ 5.41666500 %6.49999800
A10 $ 0.00000000 $ 0.00000000 $ 5.62500203 %6.75000244
A11 $ 0.00000000 $ 0.00000000 $ 5.62500000 %6.75000000
A12 $ 0.00000000 $ 0.00000000 $ 5.62500000 %6.75000000
A13 $ 0.00000000 $ 0.00000000 $ 5.62500000 %6.75000000
A14 $ 0.00000000 $ 0.00000000 $ 5.62500000 %6.75000000
A15 $ 5.27814984 $ 4.32360724 $ 5.01725386 %6.49999996
A16 $ 5.85872579 $ 4.79918717 $ 4.97332003 %6.49999999
A17 $ 19.74650219 $ 16.17538741 $ 3.92239211 %6.50000003
A18 $ 0.00000000 $ 0.00000000 $ 5.41666680 %6.50000016
S $ 0.00000000 $ 0.00000000 $ 0.34584119 %0.44395391
M $ 0.88837918 $ 0.00000000 $ 5.37055396 %6.49999978
B1 $ 0.88837786 $ 0.00000000 $ 5.37055404 %6.49999988
B2 $ 0.88837933 $ 0.00000000 $ 5.37055504 %6.50000109
B3 $ 0.88837786 $ 0.00000000 $ 5.37055271 %6.49999827
B4 $ 0.88838232 $ 0.00000000 $ 5.37055589 %6.50000209
B5 $ 0.88837906 $ 0.00000000 $ 5.37055567 %6.50000185
R $ 0.00000000 $ 0.00000000 $ 0.00000000 %0.00000000
2. Unanticipated Recoveries: $ 0.00
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B. Accrual Amount
1.
Accrual Amount
Class
N/A $ N/A
2. The amount of servicing compensation received by the Company
during the month preceding the month of distribution:
$ 91,491.13
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C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $466,631,997.93
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2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 1,367
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3.
Beginning Aggregate Class Ending Aggregate Ending
Certificate Principal Class Certificate Single Certificate
Class Balance Principal Balance Balance Cusip
- ----- ------- ----------------- ------- -----
PO $ 699,161.03 $ 698,323.03 $ 987.40 GEC9903PO
A1 $ 121,930,935.38 $ 121,067,031.38 $ 903.49 36157RE43
A2 $ 5,456,000.00 $ 5,456,000.00 $ 1,000.00 36157RE50
A3 $ 21,053,083.00 $ 21,053,083.00 $ 1,000.00 36157RE68
A4 $ 8,475,917.00 $ 8,475,917.00 $ 1,000.00 36157RE76
A5 $ 50,000,000.00 $ 50,000,000.00 $ 1,000.00 36157RE84
A6 $ 3,000,000.00 $ 3,000,000.00 $ 1,000.00 36157RE92
A7 $ 3,000,000.00 $ 3,000,000.00 $ 1,000.00 36157RF26
A8 $ 2,000,000.00 $ 2,000,000.00 $ 1,000.00 36157RF34
A9 $ 2,000,000.00 $ 2,000,000.00 $ 1,000.00 36157RF42
A10 $ 2,461,000.00 $ 2,461,000.00 $ 1,000.00 36157RF59
A11 $ 1,968,000.00 $ 1,968,000.00 $ 1,000.00 36157RF67
A12 $ 1,968,000.00 $ 1,968,000.00 $ 1,000.00 36157RF75
A13 $ 1,968,000.00 $ 1,968,000.00 $ 1,000.00 36157RF83
A14 $ 1,478,000.00 $ 1,478,000.00 $ 1,000.00 36157RF91
A15 $ 117,635,306.53 $ 116,964,981.50 $ 920.98 36157RG25
A16 $ 70,168,801.96 $ 69,721,054.70 $ 912.29 36157RG33
A17 $ 8,775,779.03 $ 8,536,471.18 $ 704.39 36157RG41
A18 $ 25,000,000.00 $ 25,000,000.00 $ 1,000.00 36157RG58
S $ 443,029,018.46 $ 440,820,660.04 $ 930.14 GEC99003S
M $ 9,172,741.23 $ 9,164,522.39 $ 990.60 36157RG74
B1 $ 3,718,670.84 $ 3,715,338.88 $ 990.60 36157RG82
B2 $ 2,231,143.01 $ 2,229,143.89 $ 990.60 36157RG90
B3 $ 2,479,113.89 $ 2,476,892.59 $ 990.60 36157RM85
B4 $ 991,685.22 $ 990,796.66 $ 990.60 36157RM93
B5 $ 1,240,548.57 $ 1,239,437.03 $ 990.60 36157RN27
R $ 0.00 $ 0.00 $ 0.00 36157RG66
D. The aggregate number and aggregate Principal Balances of Mortgage
Loans which, as of the close of business on the last day of the
month preceding the related Determination Date, were delinquent:
1. 30-59 days
Number 5 Principal Balance $ 1,418,633.45
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2. 60-89 days
Number 0 Principal Balance $ 0.00
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3. 90 days or more
Number 1 Principal Balance $ 804,128.17
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4. In Foreclosure
Number 1 Principal Balance $ 257,452.68
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5. Real Estate Owned
Number 0 Principal Balance $ 0.00
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6. The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to the Pooling And Servicing Agreement:
$ 0.00
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7. The Certificate Interest Rate applicable to the Interest Accrual
Period relating to such Distribution Date applicable to any
floating index certificate:
Certificate Interest
Class Rates
A3 % 6.56375012
A4 % 6.05133108
E. Other Information:
1. Special Hazard Loss Amount: $ 6,352,015.00
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2. Bankruptcy Loss Amount: $ 157,753.00
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3. Fraud Loss Amount: $ 5,000,825.00
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4. Certificate Interest Rate of the Class S Certificate:%0.00000000
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