KPMG
1600 Market Street
Philadelphia, PA 19103-7212
Independent Accountants' Report
The Board of Directors
GE Capital Mortgage Services, Inc.:
We have examined management's assertion about GE Capital Mortgage Services,
Inc.'s (the Company's) compliance with the minimum servicing standards set forth
in the Mortgage Bankers Association of America's Uniform Single Attestation
Program for Mortgage Bankers for primary serviced loans (including those
serviced by the Company pursuant to various pooling and servicing agreements
relating to the Company's publicly rated mortgage-backed securities program) as
of and for the year ended December 31, 1999, included in the accompanying
management assertion. Management is responsible for the Company's compliance
with those minimum servicing standards. Our responsibility is to express an
opinion on management's assertion about the Company's compliance based on our
examination.
Our examination was made in accordance with standards established by the
American Institute of Certified Public Accountants and, accordingly, included
examining, on a test basis, evidence about the Company's compliance with the
minimum servicing standards and performing such other procedures as we
considered necessary in the circumstances. We believe that our examination
provides a reasonable basis for our opinion. Our examination does not provide a
legal determination on the Company's compliance with the minimum servicing
standards.
In our opinion, management's assertion that the Company has complied in all
material respects with the aforementioned minimum servicing standards for
primary serviced loans as of and for the year ended December 31, 1999, is fairly
stated, in all material respects.
/s/ KPMG LLP
January 28, 2000
GE Capital Mortgage Services, Inc.
A unit of GE Capital Mortgage Corporation
Three Executive Campus, PO Box 5260
Cherry Hill, NJ 08034-0455
856 661-6100, 800 257-7818
As of and for the year ended December 31, 1999, GE Capital Mortgage Services,
Inc. (the Company) has complied in all material respects with the minimum
servicing standards set forth in the Mortgage Bankers Association of America's
Uniform Single Attestation Program for Mortgage Bankers. As of and for this same
period, the Company had in effect a fidelity bond and errors and omissions
policy in the minimum amount of $120 million and $20 million, respectively.
/s/ Greg Gibson
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Greg Gibson
Senior Vice President, Servicing
GE Capital Mortgage Services, Inc.