Exhibit 99.06
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
August, 1998
Series 1998-03, 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 % 7.633998
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Weighted average maturity 350.73
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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 $ 1.10172240 $ 0.22222407 $ 0.00000000 %0.00000000
A1 $ 0.00000000 $ 0.00000000 $ 5.83333339 %7.00000006
A2 $ 0.00000000 $ 0.00000000 $ 5.20833360 %6.25000032
A3 $ 0.00000000 $ 0.00000000 $ 5.20833349 %6.25000019
A4 $ 0.00000000 $ 0.00000000 $ 5.20833333 %6.25000000
A5 $ 0.00000000 $ 0.00000000 $ 5.20833312 %6.24999974
A6 $ 0.00000000 $ 0.00000000 $ 5.83333333 %7.00000000
A7 $ 26.74504593 $ 25.37665952 $ 4.96004492 %6.99999998
A8 $ 26.74504608 $ 25.37665942 $ 4.96004492 %6.99999997
A9 $ 0.00000000 $ 0.00000000 $ 0.00000000 %0.00000000
A10 $ 0.00000000 $ 0.00000000 $ 5.83333303 %6.99999963
RL $ 0.00000000 $ 0.00000000 $ 0.00000000 %0.00000000
M $ 0.78120153 $ 0.00000000 $ 5.80727653 %7.00000077
B1 $ 0.78120102 $ 0.00000000 $ 5.80727620 %7.00000037
B2 $ 0.78120382 $ 0.00000000 $ 5.80727389 %6.99999756
B3 $ 0.78120382 $ 0.00000000 $ 5.80727389 %6.99999756
B4 $ 0.78121019 $ 0.00000000 $ 5.80728238 %7.00000778
B5 $ 0.78120056 $ 0.00000000 $ 5.80727629 %7.00000093
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: $ 65,842.33
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C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 278,690,204.77
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2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 940
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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 36157RDX0
PO $ 118,254.93 $ 118,122.46 $ 982.40 GEC9803PO
A1 $ 62,000,000.00 $ 62,000,000.00 $ 1,000.00 36157RDM4
A2 $ 12,470,000.00 $ 12,470,000.00 $ 1,000.00 36157RDN2
A3 $ 21,278,000.00 $ 21,278,000.00 $ 1,000.00 36157RDP7
A4 $ 15,738,000.00 $ 15,738,000.00 $ 1,000.00 36157RDQ5
A5 $ 15,670,000.00 $ 15,670,000.00 $ 1,000.00 36157RDR3
A6 $ 6,981,000.00 $ 6,981,000.00 $ 1,000.00 36157RDS1
A7 $ 29,341,074.96 $ 28,418,183.65 $ 823.55 36157RDT9
A8 $ 102,035,210.10 $ 98,825,804.57 $ 823.55 36157RDU6
A9 $ 0.00 $ 0.00 $ 0.00 36157RDV4
A10 $ 10,900,000.00 $ 10,900,000.00 $ 1,000.00 36157RDW2
SUP $ 273,521,401.64 $ 269,388,004.05 $ 885.15 GEC98003S
RL $ 0.00 $ 0.00 $ 0.00 36157RDY8
M $ 5,468,462.83 $ 5,464,171.69 $ 994.75 36157RDZ5
B1 $ 3,124,978.12 $ 3,122,525.93 $ 994.75 36157REA9
B2 $ 1,562,986.83 $ 1,561,760.34 $ 994.75 36157REB7
B3 $ 1,562,986.83 $ 1,561,760.34 $ 994.75 36157REC5
B4 $ 468,896.05 $ 468,528.10 $ 994.75 36157RED3
B5 $ 1,094,206.14 $ 1,093,347.51 $ 994.75 36157REE1
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 $ 2,314,327.78
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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: $ 3,139,304.00
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2. Bankruptcy Loss Amount: $ 123,439.00
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3. Fraud Loss Amount: $ 3,139,304.00
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4. Certificate Interest Rate of the Class S Certificate: % 0.00000000
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F. Ending Notional Component Balances (if applicable):
Ending Notional Balance
Class
Class A7_1 $ 0.00
Class A7_2 $ 0.00
Class A8_1 $ 0.00
Class A8_2 $ 0.00
Ending Component Principal Balances (if applicable):
Ending Component Balance
Class
Class A7_1 $ 5,386,521.71
Class A7_2 $ 23,031,661.94
Class A8_1 $ 18,731,927.02
Class A8_2 $ 80,093,877.56