Exhibit 99.52
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
January, 1999
Series 1998-16, 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 % 7.086533
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Weighted average maturity 172.43
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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 $ 3.68157970 $ 0.22348132 $ 0.00000000 % 0.00000000
A1 $ 14.84023377 $ 10.79771707 $ 5.21498069 % 6.50000005
A2 $ 0.00000000 $ 0.00000000 $ 5.41666667 % 6.50000000
A3 $ 3.29362407 $ 2.39643259 $ 5.36379111 % 6.49999993
A5 $ 14.84023366 $ 10.79771703 $ 5.01440455 % 6.25000011
A4 $ 0.00000000 $ 0.00000000 $ 0.20057624 % 0.25000007
A6 $ 11.84376197 $ 8.61749174 $ 5.25410272 % 6.49999996
RL $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
M $ 3.29362449 $ 0.00000000 $ 5.36378955 % 6.49999803
B1 $ 3.29362801 $ 0.00000000 $ 5.36379529 % 6.50000495
B2 $ 3.29362801 $ 0.00000000 $ 5.36379529 % 6.50000495
B3 $ 3.29362686 $ 0.00000000 $ 5.36378694 % 6.49999486
B4 $ 3.29361197 $ 0.00000000 $ 5.36380063 % 6.50001139
B5 $ 3.29363735 $ 0.00000000 $ 5.36378163 % 6.49998851
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:
$ 102,854.99
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C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 239,121,141.62
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2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 779
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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 36157RSL0
PO $ 438,742.92 $ 437,110.04 $ 985.53 GEC9816PO
A1 $ 51,240,774.96 $ 50,450,940.93 $ 947.93 36157RSE6
A2 $ 6,750,000.00 $ 6,750,000.00 $ 1,000.00 36157RSF3
A3 $ 26,736,435.98 $ 26,647,508.13 $ 986.94 36157RSG1
A5 $ 48,619,665.68 $ 47,870,233.87 $ 947.93 36157RSJ5
A4 $ 48,619,665.68 $ 47,870,233.87 $ 947.93 36157RSH9
A6 $ 103,303,743.42 $ 102,042,382.78 $ 958.14 36157RSK2
SUP $ 218,167,434.18 $ 215,350,034.03 $ 955.90 GE9816SUP
RL $ 0.00 $ 0.00 $ 0.00 GEC9816RL
M $ 1,852,272.56 $ 1,846,111.73 $ 986.94 36157RSM8
B1 $ 617,423.53 $ 615,369.92 $ 986.94 36157RSN6
B2 $ 617,423.53 $ 615,369.92 $ 986.94 36157RSP1
B3 $ 1,111,363.34 $ 1,107,666.84 $ 986.94 36157RSU0
B4 $ 370,454.12 $ 369,221.95 $ 986.94 36157RSV8
B5 $ 370,457.27 $ 369,225.10 $ 986.94 36157RSW6
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 $ 1,003,410.04
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2. 60-89 days
Number 0 Principal Balance $ 0.00
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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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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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