Exhibit 99.24
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
January, 1999
Series 1998-09, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of May 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 % 7.37742
-----------------------
Weighted average maturity 347.96
-----------------------
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 $ 0.10000000 % 0.00000000
PO $ 1.27442989 $ 0.32275358 $ 0.00000000 % 0.00000000
A1 $ 0.00000000 $ 0.00000000 $ 5.41666675 % 6.50000010
A2 $ 0.00000000 $ 0.00000000 $ 5.41666661 % 6.49999993
A3 $ 40.66079548 $ 38.91810744 $ 5.10889180 % 6.99999998
A4 $ 38.75456498 $ 37.09357637 $ 0.00000000 % 0.00000000
A5 $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
A6 $ 0.00000000 $ 0.00000000 $ 5.41380028 % 6.49656034
A7 $ 0.00000000 $ 0.00000000 $ 5.83333333 % 7.00000000
A8 $ 0.00000000 $ 0.00000000 $ 5.62500010 % 6.75000012
A10 $ 25.33345931 $ 24.24768825 $ 4.87433880 % 6.75000001
A11 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
A12 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
A13 $ 0.00000000 $ 0.00000000 $ 5.62500005 % 6.75000006
A14 $ 0.00000000 $ 0.00000000 $ 5.83333400 % 7.00000080
A15 $ 0.00000000 $ 0.00000000 $ 5.41666667 % 6.50000000
A9 $ 0.00000000 $ 0.00000000 $ 5.62500049 % 6.75000059
A16 $ 0.00000000 $ 0.00000000 $ 6.43962740 % 7.72755288
A17 $ 0.00000000 $ 0.00000000 $ 5.62499989 % 6.74999987
A18 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
A19 $ 0.00000000 $ 0.00000000 $ 5.62500039 % 6.75000047
RL $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
M $ 0.82888529 $ 0.00000000 $ 5.59323768 % 6.74999992
B1 $ 0.82888575 $ 0.00000000 $ 5.59323798 % 6.75000028
B2 $ 0.82888527 $ 0.00000000 $ 5.59323773 % 6.74999998
B3 $ 0.82888593 $ 0.00000000 $ 5.59323911 % 6.75000166
B4 $ 0.82888889 $ 0.00000000 $ 5.59324019 % 6.75000297
B5 $ 0.82888759 $ 0.00000000 $ 5.59323632 % 6.74999830
2. Unanticipated Recoveries: $ 0.00
---------------
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:
$ 158,585.58
----------------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 671,716,862.05
----------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 2,225
----------------
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 36158GDQ8
PO $ 799,341.05 $ 798,299.79 $ 977.07 GEC9809PO
A1 $ 48,871,886.00 $ 48,871,886.00 $ 1,000.00 36158GCS5
A2 $ 54,638,720.00 $ 54,638,720.00 $ 1,000.00 36158GCT3
A3 $ 177,807,576.39 $ 169,552,592.66 $ 835.15 36158GCU0
A4 $ 6,955,319.05 $ 6,649,578.90 $ 842.88 36158GCV8
A5 $ 0.00 $ 0.00 $ 0.00 36158GCW6
A6 $ 14,087,291.00 $ 14,087,291.00 $ 1,000.00 36158GCX4
A7 $ 4,986,000.00 $ 4,986,000.00 $ 1,000.00 36158GCY2
A8 $ 51,175,000.00 $ 51,175,000.00 $ 1,000.00 36158GCZ9
A10 $ 142,114,387.32 $ 137,959,690.29 $ 841.22 36158GDB1
A11 $ 20,252,000.00 $ 20,252,000.00 $ 1,000.00 36158GDC9
A12 $ 22,880,000.00 $ 22,880,000.00 $ 1,000.00 36158GDD7
A13 $ 23,196,750.00 $ 23,196,750.00 $ 1,000.00 36158GDE5
A14 $ 5,000,000.00 $ 5,000,000.00 $ 1,000.00 36158GDF2
A15 $ 33,000,000.00 $ 33,000,000.00 $ 1,000.00 36158GDG0
A9 $ 5,055,948.00 $ 5,055,948.00 $ 1,000.00 36158GDA3
A16 $ 3,652,261.00 $ 3,652,261.00 $ 1,000.00 36158GDH8
A17 $ 22,394,100.00 $ 22,394,100.00 $ 1,000.00 36158GDJ4
A18 $ 9,880,000.00 $ 9,880,000.00 $ 1,000.00 36158GDK1
A19 $ 12,872,248.00 $ 12,872,248.00 $ 1,000.00 36158GDL9
SUP $ 647,711,525.83 $ 635,016,023.71 $ 889.28 GEC98009S
RL $ 0.00 $ 0.00 $ 0.00 36158GDR6
M $ 13,826,483.71 $ 13,814,958.06 $ 993.52 36158GDM7
B1 $ 5,979,046.86 $ 5,974,062.77 $ 993.52 36158GDN5
B2 $ 3,362,903.12 $ 3,360,099.83 $ 993.52 36158GDP0
B3 $ 2,990,020.60 $ 2,987,528.14 $ 993.52 36158GDS4
B4 $ 1,494,513.12 $ 1,493,267.31 $ 993.52 36158GDT2
B5 $ 2,242,397.01 $ 2,240,527.77 $ 993.52 36158GDU9
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 $ 3,518,959.13
-------- -------------
2. 60-89 days
Number 1 Principal Balance $ 481,632.11
-------- -------------
3. 90 days or more
Number 0 Principal Balance $ 0.00
-------- -------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
-------- -------------
5. Real Estate Owned
Number 0 Principal Balance $ 0.00
-------- -------------
6. The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to the Pooling And Servicing Agreement:
$ 0.00
----------
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
A6 % 6.49656034
A16 % 7.72755288
E. Other Information:
1. Special Hazard Loss Amount: $ 0.00
-------------
2. Bankruptcy Loss Amount: $ 0.00
-------------
3. Fraud Loss Amount: $ 0.00
-------------
4. Certificate Interest Rate of the Class S Certificate: % 0.00000000
-----------
F. Ending Notional Component Balances (if applicable):
Ending Notional Balance
Class
Class A4_1 $ 0.00
Class A4_2 $ 0.00
Class A4_3 $ 0.00
Ending Component Principal Balances (if applicable):
Ending Component Balance
Class
Class A4_1 $ 6,279,725.90
Class A4_2 $ 185,186.00
Class A4_3 $ 184,667.00