Exhibit 99.48
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
December, 1998
Series 1998-14, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of September 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 % 7.327078
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Weighted average maturity 353.67
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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 $ 29.00000000 % 0.00000000
PO $ 0.68452212 $ 0.00000000 $ 0.00000000 % 0.00000000
A1 $ 6.75459287 $ 6.35391841 $ 5.15065508 % 6.24999995
A2 $ 0.00000000 $ 0.00000000 $ 5.29166662 % 6.34999995
A3 $ 0.00000000 $ 0.00000000 $ 5.29166796 % 6.35000156
A4 $ 4.31959658 $ 4.06336339 $ 5.37699944 % 6.50000003
A5 $ 112.49365626 $ 105.82066481 $ 3.55258105 % 6.21952982
A6 $ 112.49365615 $ 105.82066493 $ 5.49180146 % 9.61453727
A9 $ 29.42954105 $ 32.78069813 $ 5.41828959 % 6.75000045
A10 $ 13.00905351 $ 12.23737180 $ 5.43916155 % 6.75000004
A11 $ 6.75459297 $ 6.35391831 $ 5.10944971 % 6.19999979
A12 $ 4.43942290 $ 4.17608150 $ 5.37599960 % 6.50000005
A7 $ 0.00000000 $ 0.00000000 $ 6.92313213 % 8.23212449
A8 $ 0.79679465 $ 0.74952880 $ 5.61616638 % 6.75000309
RL $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
M $ 0.79679404 $ 0.00000000 $ 5.61616406 % 6.75000030
B1 $ 0.79679499 $ 0.00000000 $ 5.61616460 % 6.75000094
B2 $ 0.79679482 $ 0.00000000 $ 5.61616419 % 6.74911774
B3 $ 0.79679281 $ 0.00000000 $ 5.61616356 % 6.74999969
B4 $ 0.79679756 $ 0.00000000 $ 5.61616356 % 6.74999972
B5 $ 0.79679534 $ 0.00000000 $ 5.61616080 % 6.74999636
2. Unanticipated Recoveries: $ 0.00
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B. Accrual Amount
1.
Accrual Amount
Class
A9 $ 41,910.47
A7 $ 346,908.26
2. The amount of servicing compensation received by the Company
during the month preceding the month of distribution:
$ 102,993.21
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C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 502,651,249.28
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2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 1,571
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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 36157RRJ6
PO $ 863,778.76 $ 863,186.20 $ 997.15 GEC9814PO
A1 $ 64,793,428.31 $ 64,350,874.14 $ 982.17 36157RQW8
A2 $ 78,008,000.00 $ 78,008,000.00 $ 1,000.00 36157RQX6
A3 $ 2,572,000.00 $ 2,572,000.00 $ 1,000.00 36157RQY4
A4 $ 37,426,893.96 $ 37,264,032.20 $ 988.36 36157RQZ1
A5 $ 23,329,493.41 $ 19,500,667.20 $ 572.94 36157RRA5
A6 $ 4,320,276.56 $ 3,611,234.67 $ 572.94 36157RRB3
A9 $ 7,450,749.72 $ 7,223,112.22 $ 933.82 36157RRE7
A10 $ 68,469,615.57 $ 67,548,457.50 $ 953.95 36157RRF4
A11 $ 24,332,518.87 $ 24,166,322.11 $ 982.17 36157RRG2
A12 $ 99,249,222.67 $ 98,805,280.39 $ 988.05 36157RRH0
A7 $ 75,689,075.52 $ 76,035,983.78 $ 1,013.81 36157RRC1
A8 $ 1,716,299.66 $ 1,714,929.97 $ 997.63 36157RRD9
SUP $ 468,392,953.35 $ 461,854,243.03 $ 952.27 GE9814SUP
RL $ 0.00 $ 0.00 $ 0.00 36157RRK3
M $ 9,714,081.35 $ 9,706,329.05 $ 997.63 36157RRL1
B1 $ 4,200,683.86 $ 4,197,331.51 $ 997.63 36157RRM9
B2 $ 2,362,884.84 $ 2,360,999.39 $ 997.76 36157RRN7
B3 $ 2,100,341.43 $ 2,098,665.26 $ 997.63 36157RSX4
B4 $ 1,050,170.71 $ 1,049,332.63 $ 997.63 36157RSY2
B5 $ 1,575,767.96 $ 1,574,510.42 $ 997.63 36157RSZ9
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 22 Principal Balance $ 7,453,282.49
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2. 60-89 days
Number 3 Principal Balance $ 803,366.93
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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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7. The Certificate Interest Rate applicable to the Interest Accrual
Period relating to such Distribution Date applicable to any floating
index certificate:
Certificate Interest
Class Rates
A5 % 6.21952982
A6 % 9.61453727
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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