Exhibit 99.04
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
July, 1998
Series 1998-02, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of January 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 % 7.702862
----------------------
Weighted average maturity 351.17
----------------------
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
----- ----------- ----------- ----------- -----------
R $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
PO $ 1.00908701 $ 0.13989522 $ 0.00000000 % 0.00000000
A1 $ 23.44154622 $ 22.43488676 $ 5.01138268 % 6.99999993
A2 $ 0.00000000 $ 0.00000000 $ 5.83333243 % 6.99999892
A3 $ 17.95965805 $ 17.18840956 $ 5.20359875 % 6.99999997
A4 $ 0.00000000 $ 0.00000000 $ 5.83333333 % 7.00000000
A5 $ 0.00000000 $ 0.00000000 $ 5.83333321 % 6.99999985
A6 $ 24.08858066 $ 23.05413528 $ 4.98703021 % 7.00000007
A7 $ 0.00000000 $ 0.00000000 $ 5.83333367 % 7.00000041
A8 $ 19.36272936 $ 18.53122853 $ 5.33710534 % 7.25000549
A9 $ 19.36273000 $ 18.53122800 $ 5.11625600 % 6.95000040
A10 $ 0.00000000 $ 0.00000000 $ 5.83333333 % 7.00000000
A11 $ 0.75480103 $ 0.72238734 $ 5.81204235 % 7.00000025
A12 $ 19.57027542 $ 18.72986149 $ 5.14711221 % 6.99999997
M $ 0.75480162 $ 0.00000000 $ 5.81204208 % 6.99999988
B1 $ 0.75480035 $ 0.00000000 $ 5.81204303 % 7.00000102
B2 $ 0.75480035 $ 0.00000000 $ 5.81204082 % 6.99999835
B3 $ 0.75480035 $ 0.00000000 $ 5.81204082 % 6.99999835
B4 $ 0.75480769 $ 0.00000000 $ 5.81204142 % 6.99999898
B5 $ 0.75480136 $ 0.00000000 $ 5.81204463 % 7.00000293
2. Unanticipated Recoveries: $ 0.00
---------------
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:
$ 87,965.73
-----------------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 402,479,200.09
-----------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 1,361
-----------------
3.
Beginning Aggregate Ending Aggregate Ending
Class Certificate Class Certificate Single Certificate
Class Principal Balance Principal Balance Balance Cusip
- ----- ----------------- ----------------- ------- -----
R $ 0.00 $ 0.00 $ 0.00 36157RDE2
PO $ 289,704.81 $ 289,411.09 $ 994.28 GEC9802PO
A1 $ 17,863,512.17 $ 17,376,082.10 $ 835.65 36157RCS2
A2 $ 3,700,000.00 $ 3,700,000.00 $ 1,000.00 36157RCT0
A3 $ 22,608,300.09 $ 22,153,124.50 $ 874.09 36157RCU7
A4 $ 24,561,000.00 $ 24,561,000.00 $ 1,000.00 36157RCV5
A5 $ 34,060,499.00 $ 34,060,499.00 $ 1,000.00 36157RCW3
A6 $ 54,973,132.62 $ 53,424,185.84 $ 830.83 36157RCX1
A7 $ 9,800,000.00 $ 9,800,000.00 $ 1,000.00 36157RCY9
A8 $ 883,381.40 $ 864,018.69 $ 864.02 36157RCZ6
A9 $ 4,416,911.40 $ 4,320,097.75 $ 864.02 36157RDA0
A10 $ 3,300,000.00 $ 3,300,000.00 $ 1,000.00 36157RDB8
A11 $ 21,958,704.92 $ 21,942,069.75 $ 995.60 36157RDC6
A12 $ 191,869,637.90 $ 187,614,081.51 $ 862.79 36157RDD4
SUP $ 396,180,396.42 $ 389,299,859.46 $ 889.74 GEC98002S
M $ 7,860,205.85 $ 7,854,251.23 $ 995.60 36157RDF9
B1 $ 4,491,546.20 $ 4,488,143.56 $ 995.60 36157RDG7
B2 $ 2,245,773.10 $ 2,244,071.77 $ 995.60 36157RDH5
B3 $ 2,245,773.10 $ 2,244,071.77 $ 995.60 36157RDJ1
B4 $ 673,532.67 $ 673,022.42 $ 995.60 36157RDK8
B5 $ 1,572,258.20 $ 1,571,067.11 $ 995.60 36157RDL6
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 7 Principal Balance $ 3,005,685.91
-------- ---------------
2. 60-89 days
Number 0 Principal Balance $ 0.00
-------- ---------------
3. 90 days or more
Number 0 Principal Balance $ 0.00
-------- ---------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
-------- ---------------
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
---------------
E. Other Information:
1. Special Hazard Loss Amount: $ 4,508,007.00
-------------------
2. Bankruptcy Loss Amount: $ 173,734.00
-------------------
3. Fraud Loss Amount: $ 4,508,007.00
-------------------
4. Certificate Interest Rate of the Class S Certificate: % 0.00000000
-------------