Exhibit 99.54
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
January, 1999
Series 1998-17, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of October 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 % 7.289377
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Weighted average maturity 354.12
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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 $ 1.34152429 $ 0.45009496 $ 0.00000000 % 0.00000000
A1 $ 10.80412476 $ 9.87874422 $ 5.48329537 % 6.75000004
A2 $ 0.00000000 $ 0.00000000 $ 5.62500068 % 6.75000081
A3 $ 0.80595419 $ 0.73692370 $ 5.61610474 % 6.75000003
A4 $ 17.83175283 $ 16.30445121 $ 5.39112245 % 6.75000003
A5 $ 0.00000000 $ 0.00000000 $ 5.62500010 % 6.75000011
A6 $ 12.61014923 $ 11.53008149 $ 5.45960791 % 6.75000001
A7 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
A9 $ 12.61014922 $ 11.53008137 $ 5.25740023 % 6.50000004
A8 $ 0.00000000 $ 0.00000000 $ 0.20220755 % 0.24999981
A10 $ 0.00000000 $ 0.00000000 $ 5.40625013 % 6.48750015
A11 $ 0.00000000 $ 0.00000000 $ 6.28124928 % 7.53749913
A12 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
A13 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
RL $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
M $ 0.80595427 $ 0.00000000 $ 5.61610501 % 6.75000036
B1 $ 0.80595299 $ 0.00000000 $ 5.61610373 % 6.74999882
B2 $ 0.80595247 $ 0.00000000 $ 5.61610579 % 6.75000129
B3 $ 0.80595343 $ 0.00000000 $ 5.61610374 % 6.74999884
B4 $ 0.80595527 $ 0.00000000 $ 5.61610224 % 6.74999704
B5 $ 0.80595643 $ 0.00000000 $ 5.61610748 % 6.75000354
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:
$ 119,330.54
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C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 506,482,260.00
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2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 1,526
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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 36157RTM7
PO $ 987,286.39 $ 985,958.73 $ 996.26 GEC9817PO
A1 $ 98,110,943.42 $ 97,023,546.91 $ 964.00 36157RTA3
A2 $ 7,371,000.00 $ 7,371,000.00 $ 1,000.00 36157RTB1
A3 $ 49,922,888.67 $ 49,882,589.38 $ 997.61 36157RTC9
A4 $ 48,166,444.22 $ 47,270,291.64 $ 940.59 36157RTD7
A5 $ 32,689,411.00 $ 32,689,411.00 $ 1,000.00 36157RTE5
A6 $ 174,649,613.88 $ 172,380,538.47 $ 957.99 36157RTF2
A7 $ 9,672,000.00 $ 9,672,000.00 $ 1,000.00 36157RTG0
A9 $ 24,507,570.32 $ 24,189,164.09 $ 957.99 36157RTJ4
A8 $ 24,507,570.32 $ 24,189,164.09 $ 957.99 36157RTH8
A10 $ 14,673,337.00 $ 14,673,337.00 $ 1,000.00 36157RTK1
A11 $ 4,891,113.00 $ 4,891,113.00 $ 1,000.00 36157RTL9
A12 $ 17,620,000.00 $ 17,620,000.00 $ 1,000.00 36157RUY9
A13 $ 7,007,760.00 $ 7,007,760.00 $ 1,000.00 36157RUZ6
SUP $ 463,853,975.66 $ 459,284,339.22 $ 967.88 GE9817SUP
RL $ 0.00 $ 0.00 $ 0.00 36157RTN5
M $ 7,815,620.92 $ 7,809,311.91 $ 997.61 36157RTP0
B1 $ 3,907,810.46 $ 3,904,655.96 $ 997.61 36157RTQ8
B2 $ 2,604,874.17 $ 2,602,771.43 $ 997.61 36157RTR6
B3 $ 3,387,634.36 $ 3,384,899.76 $ 997.61 36157RVA0
B4 $ 1,562,525.13 $ 1,561,263.81 $ 997.61 36157RVB8
B5 $ 1,563,910.29 $ 1,562,647.85 $ 997.61 36157RVC6
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 $ 4,290,246.00
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2. 60-89 days
Number 2 Principal Balance $ 1,124,465.01
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3. 90 days or more
Number 0 Principal Balance $ 0.00
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4. In Foreclosure
Number 1 Principal Balance $ 250,389.30
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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
A10 % 6.48750015
A11 % 7.53749913
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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