Exhibit 99.32
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
July, 1998
Series 1998-11B, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1998 (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 % 7.439094
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Weighted average maturity 355.72
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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
----- ----------- ----------- ----------- -----------
2PO $ 1.35310207 $ 0.48283011 $ 0.00000000 %0.00000000
2A1 $ 1.29193395 $ 1.18133583 $ 5.62499978 %6.74999974
2A2 $ 0.00000000 $ 0.00000000 $ 5.41666711 %6.50000054
2A3 $ 118.73682709 $ 108.57218646 $ 5.50520839 %6.60625007
2A4 $ 0.00000000 $ 0.00000000 $ 5.62500000 %6.75000000
2A5 $ 3.98689534 $ 3.64559130 $ 5.62499979 %6.74999975
2A6 $ 1.71634600 $ 1.56941600 $ 5.41666700 %6.50000040
2A7 $ 118.73682811 $ 108.57218592 $ 6.08705325 %7.30446390
2A8 $ 0.00000000 $ 0.00000000 $ 5.83333143 %6.99999771
2A9 $ 0.00000000 $ 0.00000000 $ 6.66666857 %8.00000229
2A10 $ 2.48597680 $ 2.27316106 $ 5.62500000 %6.75000000
2A11 $ 0.00000000 $ 0.00000000 $ 5.62500000 %6.75000000
2A12 $ 15.92609302 $ 14.56271628 $ 5.62499907 %6.74999888
2A13 $ 0.00000000 $ 0.00000000 $ 0.20833300 %0.24999960
2A14 $ 0.00000000 $ 0.00000000 $ 5.83333200 %6.99999839
2A15 $ 0.00000000 $ 0.00000000 $ 5.83333200 %6.99999839
2A16 $ 0.00000000 $ 0.00000000 $ 5.83333467 %7.00000161
2R $ 1000.00000000 $ 914.40000000 $ 5.60000000 %6.72000000
2RL $ 1000.00000000 $ 914.40000000 $ 5.60000000 %6.72000000
2M $ 0.77113089 $ 0.00000000 $ 5.62500109 %6.75000130
2B1 $ 0.77112952 $ 0.00000000 $ 5.62500000 %6.75000000
2B2 $ 0.77113292 $ 0.00000000 $ 5.62499554 %6.74999465
2B3 $ 0.77113454 $ 0.00000000 $ 5.62500000 %6.75000000
2B4 $ 0.77112450 $ 0.00000000 $ 5.62500000 %6.75000000
2B5 $ 0.77112522 $ 0.00000000 $ 5.62499582 %6.74999499
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:
$ 15,740.65
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C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 246,888,555.95
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2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 810
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3.
Beginning Aggregate Ending Aggregate Ending
Class Certificate Class Certificate Single Certificate
Class Principal Balance Principal Balance Balance Cusip
- ----- ----------------- ----------------- ------- -----
2PO $ 205,476.00 $ 205,197.97 $ 998.65 GE98112PO
2A1 $ 23,177,880.00 $ 23,147,935.71 $ 998.71 36157RJZ9
2A2 $ 7,474,000.00 $ 7,474,000.00 $ 1,000.00 36157RKA2
2A3 $ 11,633,823.00 $ 10,252,459.77 $ 881.26
2A4 $ 24,904,832.00 $ 24,904,832.00 $ 1,000.00 36157RKC8
2A5 $ 24,125,000.00 $ 24,028,816.15 $ 996.01 36157RKD6
2A6 $ 10,000,000.00 $ 9,982,836.54 $ 998.28 36157RKE4
2A7 $ 3,016,177.00 $ 2,658,045.71 $ 881.26
2A8 $ 1,750,000.00 $ 1,750,000.00 $ 1,000.00 36157RKG9
2A9 $ 1,750,000.00 $ 1,750,000.00 $ 1,000.00 36157RKH7
2A10 $ 73,700,000.00 $ 73,516,783.51 $ 997.51 36157RKJ3
2A11 $ 44,500,000.00 $ 44,500,000.00 $ 1,000.00 36157RKK0
2A12 $ 5,375,000.00 $ 5,289,397.25 $ 984.07 36157RKL8
2A13 $ 10,000,000.00 $ 9,982,836.54 $ 998.28 36157RKM6
2A14 $ 2,491,000.00 $ 2,491,000.00 $ 1,000.00 36157RKN4
2A15 $ 2,491,000.00 $ 2,491,000.00 $ 1,000.00 36157RKP9
2A16 $ 2,492,000.00 $ 2,492,000.00 $ 1,000.00 36157RKQ7
SUP2 $ 236,366,322.00 $ 234,221,011.15 $ 990.92 G9811SUP2
2R $ 100.00 $ 0.00 $ 0.00 36157RKU8
2RL $ 100.00 $ 0.00 $ 0.00 36157RKV6
2M $ 4,607,000.00 $ 4,603,447.40 $ 999.23 36157RKR5
2B1 $ 1,992,000.00 $ 1,990,463.91 $ 999.23 36157RKS3
2B2 $ 1,121,000.00 $ 1,120,135.56 $ 999.23 36157RKT1
2B3 $ 996,000.00 $ 995,231.95 $ 999.23 36157RLK9
2B4 $ 498,000.00 $ 497,615.98 $ 999.23 36157RLL7
2B5 $ 747,933.00 $ 747,356.25 $ 999.23 36157RLM5
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 0 Principal Balance $ 0.00
-------- ----------------
2. 60-89 days
Number 0 Principal Balance $ 0.00
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3. 90 days or more
Number 0 Principal Balance $ 0.00
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4. In Foreclosure
Number 0 Principal Balance $ 0.00
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5. Real Estate Owned
Number 0 Principal Balance $ 0.00
-------- ----------------
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
2A3 % 6.60625007
2A7 % 7.30446390
2A9 % 8.00000229
E. Other Information:
1. Special Hazard Loss Amount: $ 0.00
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2. Bankruptcy Loss Amount: $ 0.00
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3. Fraud Loss Amount: $ 0.00
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4. Certificate Interest Rate of the Class S Certificate: % 0.00000000
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*It has been the Company's experience that, with respect to the first
Distribution Date after the closing of a securitization containing a large
number of recently originated or acquired Mortgage Loans, the number of Mortgage
Loans 30-59 days delinquent may be inflated due to the borrowers sending monthly
payments to the wrong location or delays by the Company in inputting the
Mortgage Loans on its servicing system. It has also been the Company's
experience that for the majority of such Mortgage Loans the routing of
borrowers' monthly payments has corrected itself by the second Distribution
Date. However, the Company makes no assurances as to the level of delinquent
Mortgage Loans for future Distribution Dates.