Exhibit 99.32
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
January, 1999
Series 1998-11B, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of June 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 % 7.420607
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Weighted average maturity 349.66
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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
----- ----------- ----------- ----------- -----------
2PO $ 1.07569741 $ 0.16722148 $ 0.00000000 % 0.00000000
2A1 $ 10.99968461 $ 10.44391118 $ 5.53734940 % 6.74999991
2A2 $ 0.00000000 $ 0.00000000 $ 5.41666711 % 6.50000054
2A3 $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
2A4 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
2A5 $ 58.81823834 $ 55.84637098 $ 5.31007088 % 6.75000011
2A6 $ 4.59115700 $ 4.35918300 $ 5.32177800 % 6.50000023
2A7 $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
2A8 $ 0.00000000 $ 0.00000000 $ 5.83333143 % 6.99999771
2A9 $ 0.00000000 $ 0.00000000 $ 6.66666857 % 8.00000229
2A10$ 21.16591533 $ 20.09648005 $ 5.45634030 % 6.75000000
2A11$ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
2A12$ 42.60166326 $ 40.44915907 $ 4.71065488 % 6.74999974
2A13$ 0.00000000 $ 0.00000000 $ 0.20468400 % 0.25000029
2A14$ 0.00000000 $ 0.00000000 $ 5.83333200 % 6.99999839
2A15$ 0.00000000 $ 0.00000000 $ 5.83333200 % 6.99999839
2A16$ 0.00000000 $ 0.00000000 $ 5.83333467 % 7.00000161
2R $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
2RL $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
2M $ 0.80475147 $ 0.00000000 $ 5.59851096 % 6.74999903
2B1 $ 0.80475402 $ 0.00000000 $ 5.59851406 % 6.75000274
2B2 $ 0.80475468 $ 0.00000000 $ 5.59851026 % 6.74999818
2B3 $ 0.80474900 $ 0.00000000 $ 5.59851406 % 6.75000274
2B4 $ 0.80475904 $ 0.00000000 $ 5.59851406 % 6.75000274
2B5 $ 0.80475123 $ 0.00000000 $ 5.59850949 % 6.74999716
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:
$ 50,984.86
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C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 225,862,192.97
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2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 747
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3.
Beginning Aggregate Class Ending Aggregate Ending
Certificate Principal Class Certificate Single Certificate
Class Balance Principal Balance Balance Cusip
- ----- ------- ----------------- ------- -----
2PO $ 204,024.49 $ 203,803.46 $ 991.86 GE98112PO
2A1 $ 22,816,714.97 $ 22,561,765.60 $ 973.42 36157RJZ9
2A2 $ 7,474,000.00 $ 7,474,000.00 $ 1,000.00 36157RKA2
2A3 $ 0.00 $ 0.00 $ 0.00 GE98112A3
2A4 $ 24,904,832.00 $ 24,904,832.00 $ 1,000.00 36157RKC8
2A5 $ 22,774,303.64 $ 21,355,313.64 $ 885.19 36157RKD6
2A6 $ 9,824,820.58 $ 9,778,909.01 $ 977.89 36157RKE4
2A7 $ 0.00 $ 0.00 $ 0.00 GE98112A7
2A8 $ 1,750,000.00 $ 1,750,000.00 $ 1,000.00 36157RKG9
2A9 $ 1,750,000.00 $ 1,750,000.00 $ 1,000.00 36157RKH7
2A10 $ 71,490,183.07 $ 69,930,255.12 $ 948.85 36157RKJ3
2A11 $ 44,500,000.00 $ 44,500,000.00 $ 1,000.00 36157RKK0
2A12 $ 4,501,292.62 $ 4,272,308.68 $ 794.85 36157RKL8
2A13 $ 9,824,820.58 $ 9,778,909.01 $ 977.89 36157RKM6
2A14 $ 2,491,000.00 $ 2,491,000.00 $ 1,000.00 36157RKN4
2A15 $ 2,491,000.00 $ 2,491,000.00 $ 1,000.00 36157RKP9
2A16 $ 2,492,000.00 $ 2,492,000.00 $ 1,000.00 36157RKQ7
SUP2 $ 216,779,744.21 $ 213,276,006.77 $ 902.31 G9811SUP2
2R $ 0.00 $ 0.00 $ 0.00 36157RKU8
2RL $ 0.00 $ 0.00 $ 0.00 36157RKV6
2M $ 4,585,305.55 $ 4,581,598.06 $ 994.49 36157RKR5
2B1 $ 1,982,619.64 $ 1,981,016.57 $ 994.49 36157RKS3
2B2 $ 1,115,721.19 $ 1,114,819.06 $ 994.49 36157RKT1
2B3 $ 991,309.82 $ 990,508.29 $ 994.49 36157RLK9
2B4 $ 495,654.91 $ 495,254.14 $ 994.49 36157RLL7
2B5 $ 744,410.98 $ 743,809.08 $ 994.49 36157RLM5
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 $ 1,563,750.16
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2. 60-89 days
Number 1 Principal Balance $ 497,045.78
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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
2A3 % 0.00000000
2A7 % 0.00000000
2A9 % 8.00000229
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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