Exhibit 99.02
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
August, 1998
Series 1998-01, 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 % 7.433251
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Weighted average maturity 169.69
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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 $ 3.69875860 $ 0.11935595 $ 0.00000000 %0.00000000
A1 $ 31.62577501 $ 28.68761608 $ 5.03660364 %6.75000008
A2 $ 38.72755690 $ 35.12961456 $ 4.91634222 %6.75000004
A3 $ 3.21879297 $ 2.91975443 $ 5.51766781 %6.75000021
M $ 3.21879402 $ 0.00000000 $ 5.51766810 %6.75000059
B1 $ 3.21879605 $ 0.00000000 $ 5.51767062 %6.75000371
B2 $ 3.21880214 $ 0.00000000 $ 5.51765822 %6.74998865
B3 $ 3.21879703 $ 0.00000000 $ 5.51767372 %6.75000750
B4 $ 3.21880880 $ 0.00000000 $ 5.51765822 %6.74998847
B5 $ 3.21879632 $ 0.00000000 $ 5.51766188 %6.74999240
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: $ 42,832.89
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C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 173,448,542.98
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2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 546
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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 36157RCN3
PO $ 151,890.59 $ 151,310.79 $ 965.25 GEC9801PO
A1 $ 56,114,479.36 $ 54,132,492.04 $ 863.77 36157RCK9
A2 $ 92,897,576.40 $ 88,781,296.41 $ 835.29 36157RCL7
A3 $ 26,065,030.31 $ 25,979,500.35 $ 977.70 36157RCM5
SUP $ 167,609,910.77 $ 161,457,599.74 $ 860.40 GEC98001S
M $ 1,472,785.65 $ 1,467,952.84 $ 977.70 36157RCP8
B1 $ 981,855.46 $ 978,633.59 $ 977.70 36157RCQ6
B2 $ 490,925.27 $ 489,314.35 $ 977.70 36157RCR4
B3 $ 785,485.35 $ 782,907.86 $ 977.70 36157RCG8
B4 $ 294,555.17 $ 293,588.61 $ 977.70 36157RCH6
B5 $ 392,834.22 $ 391,545.17 $ 977.70 36157RCJ2
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 $ 2,311,806.60
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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 1 Principal Balance $ 219,252.14
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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: $ 2,621,837.00
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2. Bankruptcy Loss Amount: $ 100,000.00
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3. Fraud Loss Amount: $ 2,001,914.00
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4. Certificate Interest Rate of the Class S Certificate: % 0.00000000
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