Exhibit 99.18
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
December, 1998
Series 1998-07, 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 % 7.179245
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Weighted average maturity 168.57
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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 $ 3.62195909 $ 0.11967382 $ 0.00000000 % 0.00000000
A $ 20.29366039 $ 17.35366418 $ 4.65244750 % 6.50000004
M $ 3.33410340 $ 0.00000000 $ 5.27611075 % 6.49999962
B1 $ 3.33410379 $ 0.00000000 $ 5.27611616 % 6.50000626
B2 $ 3.33410379 $ 0.00000000 $ 5.27611616 % 6.50000626
B3 $ 3.33410861 $ 0.00000000 $ 5.27610765 % 6.49999573
B4 $ 3.33409416 $ 0.00000000 $ 5.27610765 % 6.49999573
B5 $ 3.33411778 $ 0.00000000 $ 5.27611137 % 6.50000059
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:
$ 32,937.72
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C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 145,679,922.75
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2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 464
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3.
Beginning Aggregate Class Ending Aggregate Ending
Certificate Principal Class Certificate Single Certificate
Class Balance Principal Balance Balance Cusip
- ----- ------- ----------------- ------- -----
R $ 0.00 $ 0.00 $ 0.00 36158GAB4
PO $ 282,636.03 $ 281,574.93 $ 961.13 GEC9807PO
A $ 145,044,702.55 $ 141,617,712.12 $ 838.62 36158GAA6
SUP $ 139,387,788.48 $ 135,983,175.22 $ 835.71 GEC987SUP
M $ 1,686,531.79 $ 1,680,758.92 $ 970.72 36158GAC2
B1 $ 421,417.44 $ 419,974.96 $ 970.72 36158GAD0
B2 $ 421,417.44 $ 419,974.96 $ 970.72 36158GAE8
B3 $ 674,267.52 $ 671,959.55 $ 970.72 36158GAP3
B4 $ 337,133.76 $ 335,979.78 $ 970.72 36158GAQ1
B5 $ 252,852.90 $ 251,987.40 $ 970.72 36158GAR9
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 4 Principal Balance $ 1,175,999.27
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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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