Exhibit 99.12
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
February, 1999
Series 1998-05, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of March 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 % 7.482097
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Weighted average maturity 346.09
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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 $ 1.34671624 $ 0.44590895 $ 0.00000000 % 0.00000000
A1 $ 33.42853286 $ 32.65153520 $ 4.14331455 % 6.75000002
A2 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
A3 $ 0.00000000 $ 0.00000000 $ 5.62499999 % 6.74999998
A4 $ 0.00000000 $ 0.00000000 $ 5.62499976 % 6.74999972
M $ 0.80733010 $ 0.00000000 $ 5.58113162 % 6.74999985
B1 $ 0.80732845 $ 0.00000000 $ 5.58113242 % 6.75000082
B2 $ 0.80733147 $ 0.00000000 $ 5.58113038 % 6.74999836
B3 $ 0.80733127 $ 0.00000000 $ 5.58112961 % 6.74999742
B4 $ 0.80733217 $ 0.00000000 $ 5.58113026 % 6.74999823
B5 $ 0.80733017 $ 0.00000000 $ 5.58113141 % 6.74999959
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:
$ 69,411.25
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C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 339,969,080.11
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2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 1,130
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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 36158GAK4
PO $ 303,467.86 $ 303,006.44 $ 884.36 GEC9805PO
A1 $ 257,438,075.81 $ 245,754,797.56 $ 703.16 36158GAF5
A2 $ 12,632,000.00 $ 12,632,000.00 $ 1,000.00 36158GAG3
A3 $ 42,580,809.00 $ 42,580,809.00 $ 1,000.00 36158GAH1
A4 $ 21,095,000.00 $ 21,095,000.00 $ 1,000.00 36158GAJ7
SUP $ 336,649,979.58 $ 324,973,930.96 $ 759.93 GEC98005S
M $ 8,148,233.07 $ 8,141,603.06 $ 991.39 36158GAL2
B1 $ 3,523,560.46 $ 3,520,693.43 $ 991.39 36158GAM0
B2 $ 1,982,002.26 $ 1,980,389.56 $ 991.39 36158GAN8
B3 $ 1,761,780.23 $ 1,760,346.71 $ 991.39 36157REW1
B4 $ 880,889.12 $ 880,172.37 $ 991.39 36157REX9
B5 $ 1,321,336.97 $ 1,320,261.83 $ 991.39 36157REY7
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 $ 2,975,013.30
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2. 60-89 days
Number 0 Principal Balance $ 0.00
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3. 90 days or more
Number 1 Principal Balance $ 637,546.41
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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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