Exhibit 99.50
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
January, 1999
Series 1998-15, 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 % 7.315068
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Weighted average maturity 353.59
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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 $ 0.98025246 $ 0.09622766 $ 0.00000000 %0.00000000
A1 $ 10.90991964 $ 9.84701301 $ 5.21198820 %6.75000000
A2 $ 7.95128696 $ 7.17662719 $ 5.32399176 %6.74999996
A3 $ 0.00000000 $ 0.00000000 $ 5.28879997 %6.34655997
A4 $ 0.00000000 $ 0.00000000 $ 6.92177148 %8.30612577
A5 $ 0.00000000 $ 0.00000000 $ 5.62500000 %6.75000000
A6 $ 0.00000000 $ 0.00000000 $ 5.62500000 %6.75000000
A7 $ 0.00000000 $ 0.00000000 $ 5.62500000 %6.75000000
A8 $ 0.00000000 $ 0.00000000 $ 5.41666623 %6.49999948
A9 $ 0.00000000 $ 0.00000000 $ 5.83333400 %7.00000080
A10 $ 0.00000000 $ 0.00000000 $ 6.14583384 %7.37500061
A11 $ 0.00000000 $ 0.00000000 $ 5.62500000 %6.75000000
M $ 0.80079086 $ 0.00000000 $ 5.61185548 %6.74999973
B1 $ 0.80079173 $ 0.00000000 $ 5.61185613 %6.75000050
B2 $ 0.80078836 $ 0.00000000 $ 5.61185477 %6.74999887
B3 $ 0.80079173 $ 0.00000000 $ 5.61185613 %6.75000052
B4 $ 0.80079215 $ 0.00000000 $ 5.61185907 %6.75000408
B5 $ 0.80079148 $ 0.00000000 $ 5.61185385 %6.74999771
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:
$ 105,295.43
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C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 448,344,929.34
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2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 1,310
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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 36157RSA4
PO $ 895,096.00 $ 894,215.86 $ 995.93 GEC9815PO
A1 $ 242,139,242.84 $ 239,288,186.27 $ 915.67 36157RRP2
A2 $ 84,318,779.20 $ 83,610,430.85 $ 938.54 36157RRQ0
A3 $ 30,235,235.00 $ 30,235,235.00 $ 1,000.00 36157RRR8
A4 $ 7,838,765.00 $ 7,838,765.00 $ 1,000.00 36157RRS6
A5 $ 1,500,000.00 $ 1,500,000.00 $ 1,000.00 36157RRT4
A6 $ 1,500,000.00 $ 1,500,000.00 $ 1,000.00 36157RRU1
A7 $ 2,000,000.00 $ 2,000,000.00 $ 1,000.00 36157RRV9
A8 $ 8,571,429.00 $ 8,571,429.00 $ 1,000.00 36157RRW7
A9 $ 5,000,000.00 $ 5,000,000.00 $ 1,000.00 36157RRX5
A10 $ 1,428,571.00 $ 1,428,571.00 $ 1,000.00 36157RRY3
A11 $ 47,500,000.00 $ 47,500,000.00 $ 1,000.00 36157RRZ0
SUP $ 408,026,284.09 $ 404,496,749.50 $ 936.60 GE9815SUP
M $ 8,783,996.80 $ 8,776,946.18 $ 996.86 36157RSB2
B1 $ 3,798,485.05 $ 3,795,436.13 $ 996.86 36157RSC0
B2 $ 2,136,647.47 $ 2,134,932.45 $ 996.86 36157RSD8
B3 $ 1,899,242.52 $ 1,897,718.07 $ 996.86 36157RSR7
B4 $ 949,620.76 $ 948,858.53 $ 996.86 36157RSS5
B5 $ 1,425,348.04 $ 1,424,203.96 $ 996.86 36157RST3
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 12 Principal Balance $ 3,492,167.73
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2. 60-89 days
Number 1 Principal Balance $ 498,879.79
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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
A3 % 6.34655997
A4 % 8.30612577
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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