Exhibit 99.12
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
August, 1998
Series 1998-05, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of March 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 % 7.507837
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Weighted average maturity 351.52
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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
----- ----------- ----------- ----------- -----------
R $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
PO $ 1.09734813 $ 0.18425338 $ 0.00000000 % 0.00000000
A1 $ 27.36020808 $ 26.46806508 $ 5.22378017 % 6.74999999
A2 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
A3 $ 0.00000000 $ 0.00000000 $ 5.62499999 % 6.74999998
A4 $ 0.00000000 $ 0.00000000 $ 5.62500024 % 6.75000028
M $ 0.77540839 $ 0.00000000 $ 5.60769307 % 6.74999962
B1 $ 0.77540735 $ 0.00000000 $ 5.60769204 % 6.74999838
B2 $ 0.77540786 $ 0.00000000 $ 5.60769250 % 6.74999894
B3 $ 0.77541016 $ 0.00000000 $ 5.60769486 % 6.75000177
B4 $ 0.77541104 $ 0.00000000 $ 5.60768991 % 6.74999580
B5 $ 0.77540911 $ 0.00000000 $ 5.60769099 % 6.74999710
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:
$ 94,320.37
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C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 409,328,014.17
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2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 1,328
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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 36158GAK4
PO $ 324,056.36 $ 323,680.38 $ 944.70 GEC9805PO
A1 $ 324,571,042.15 $ 315,008,644.49 $ 901.31 36158GAF5
A2 $ 12,632,000.00 $ 12,632,000.00 $ 1,000.00 36158GAG3
A3 $ 42,580,809.00 $ 42,580,809.00 $ 1,000.00 36158GAH1
A4 $ 21,095,000.00 $ 21,095,000.00 $ 1,000.00 36158GAJ7
SUP $ 403,114,211.88 $ 393,555,220.52 $ 920.31 GEC98005S
M $ 8,187,012.02 $ 8,180,644.15 $ 996.15 36158GAL2
B1 $ 3,540,329.74 $ 3,537,576.06 $ 996.15 36158GAM0
B2 $ 1,991,434.98 $ 1,989,886.04 $ 996.15 36158GAN8
B3 $ 1,770,164.87 $ 1,768,788.03 $ 996.15 36157REW1
B4 $ 885,081.44 $ 884,393.02 $ 996.15 36157REX9
B5 $ 1,327,625.46 $ 1,326,592.83 $ 996.15 36157REY7
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 13 Principal Balance $ 4,286,063.60
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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
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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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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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