Exhibit 99.28
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
January, 1999
Series 1998-10B, 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 % 7.064441
-------------------------
Weighted average maturity 169.28
-------------------------
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
----- ----------- ----------- ----------- -----------
PO2 $ 3.80717877 $ 0.26394360 $ 0.00000000 % 0.00000000
2A1 $ 0.00000000 $ 0.00000000 $ 5.41666677 % 6.50000013
2A2 $ 0.00000000 $ 0.00000000 $ 5.41666678 % 6.50000013
2A3 $ 37.86074224 $ 29.65395898 $ 4.31486119 % 6.50000014
2A4 $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
2A5 $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
2A6 $ 4.95285112 $ 3.87925955 $ 5.23487395 % 6.50000001
2A7 $ 0.00000000 $ 0.00000000 $ 5.41666667 % 6.50000000
2R $ 0.00000000 $ 0.00000000 $ 5.40000000 % 6.48000000
2M $ 3.38706618 $ 0.00000000 $ 5.29234559 % 6.50000013
2B1 $ 3.38707285 $ 0.00000000 $ 5.29234437 % 6.49999863
2B2 $ 3.38706349 $ 0.00000000 $ 5.29235450 % 6.50001097
2B3 $ 3.38706954 $ 0.00000000 $ 5.29235099 % 6.50000668
2B4 $ 3.38704846 $ 0.00000000 $ 5.29233480 % 6.49998677
2B5 $ 3.38706657 $ 0.00000000 $ 5.29234105 % 6.49999473
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:
$ 31,926.95
-----------------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 135,069,276.65
-----------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 426
---------------
3.
Beginning Aggregate Class Ending Aggregate Ending
Certificate Principal Class Certificate Single Certificate
Class Balance Principal Balance Balance Cusip
- ----- ------- ----------------- ------- -----
PO2 $ 456,315.54 $ 454,518.86 $ 963.13 GEC9810P2
2A1 $ 31,765,000.00 $ 31,765,000.00 $ 1,000.00 36158GEH7
2A2 $ 29,935,000.00 $ 29,935,000.00 $ 1,000.00 36158GEJ3
2A3 $ 42,725,090.78 $ 40,694,429.87 $ 758.73 36158GEK0
2A4 $ 0.00 $ 0.00 $ 0.00 36158GEL8
2A5 $ 0.00 $ 0.00 $ 0.00 36158GEM6
2A6 $ 19,473,731.04 $ 19,373,931.10 $ 961.49 36158GEN4
2A7 $ 9,315,000.00 $ 9,315,000.00 $ 1,000.00 36158GEP9
SUP2 $ 124,116,624.19 $ 122,034,361.99 $ 888.29 GEC9810S2
2R $ 100.00 $ 100.00 $ 1,000.00 36158GEQ7
2M $ 1,328,785.82 $ 1,324,179.41 $ 973.66 36157RHD0
2B1 $ 737,671.54 $ 735,114.30 $ 973.66 36157RHE8
2B2 $ 369,324.30 $ 368,043.99 $ 973.66 36157RHF5
2B3 $ 590,137.24 $ 588,091.45 $ 973.66 36157RHL2
2B4 $ 221,789.99 $ 221,021.12 $ 973.66 36157RHM0
2B5 $ 295,872.24 $ 294,846.56 $ 973.66 36157RHN8
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 3 Principal Balance $ 893,245.40
-------- -----------
2. 60-89 days
Number 0 Principal Balance $ 0.00
-------- -----------
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
-----------
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
------------