Exhibit 99.39
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
February, 1999
Series 1998-12B, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of July 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:
With respect to the Agreement and as of the Determination Date for this
month:
A. Mortgage Loan Information:
1. Aggregate scheduled Monthly Payments:
(a) Principal $ 137,246.27
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(b) Interest $ 1,049,065.42
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(c) Total $ 1,186,311.69
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2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 126,952.41
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(b) Interest $ 969,167.72
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(c) Total $ 1,096,120.13
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3. Aggregate Monthly Advances this month:
(a) Principal $ 10,293.86
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(b) Interest $ 79,897.70
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(c) Total $ 90,191.56
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4. Aggregate Principal Prepayments in part received in the
applicable Prepayment Period:
(a) Principal $ 60,074.34
-------------
5. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $ 7,866,996.08
-------------
(b) Interest $ 48,283.64
-------------
(c) Total $ 7,915,279.72
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6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
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(b) Interest $ 0.00
-------------
(c) Total $ 0.00
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7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
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(b) Interest $ 0.00
-------------
(c) Total $ 0.00
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8. Aggregate Deficient Valuations with respect to the Mortgage
Loans during the prior month: $ 0.00
-------------
9. Aggregate Debt Service Reductions with respect to the Mortgage Loans
during the prior month: $ 0.00
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10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
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(b) Interest $ 0.00
---------------
(c) Total $ 0.00
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11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 0.00
---------------
(b) Interest $ 0.00
---------------
(c) Total $ 0.00
---------------
12. Pool Scheduled Principal Balance: $169,275,969.82
---------------
13. Available Funds: $ 9,061,217.91
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14. Realized Losses for prior month: $ 0.00
---------------
15. Aggregate Realized Losses
(a) Aggregate Realized Losses: $ 0.00
------------------------
(b) Deficient Valuations: $ 0.00
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(c) Debt Service Reductions: $ 0.00
------------------------
(d) Bankruptcy Losses: $ 0.00
------------------------
(e) Special Hazard Losses: $ 0.00
------------------------
(f) Fraud Losses: $ 0.00
------------------------
(g) Excess Bankruptcy Losses: $ 0.00
------------------------
(h) Excess Special Hazard Losses: $ 0.00
------------------------
(i) Excess Fraud Losses: $ 0.00
------------------------
16. Non-Credit Losses: $ 0.00
--------------
17. Compensating Interest Payment: $ 5,065.16
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18. Total interest payments: $ 996,901.21
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19. Interest
Unpaid Class
Accrued Certificate Interest Shortfalls Interest
Class Interest Payable Pay-out Rate
- ----- -------- ------------------- ------- ------------
PO2 $ 0.00 $ 0.00 $ 0.00 % 0.000000000
2A1 $ 235,400.00 $ 0.00 $ 235,400.00 % 6.600000000
2A2 $ 127,997.92 $ 0.00 $ 127,997.92 % 6.550000171
2A3 $ 9,258.33 $ 0.00 $ 9,258.33 % 6.749997553
2A4 $ 255,519.29 $ 0.00 $ 255,519.29 % 5.499999980
2A5 $ 116,144.96 $ 0.00 $ 116,144.96 % 12.980749974
2A6 $ 23,229.03 $ 0.00 $ 23,229.03 % 7.500001150
2A7 $ 0.00 $ 0.00 $ 0.00 % 0.000000000
2A8 $ 5,631.37 $ 0.00 $ 0.00 % 6.749997063
2A9 $ 178,875.00 $ 0.00 $ 178,875.00 % 6.750000000
2R $ 0.56 $ 0.00 $ 0.56 % 6.720000000
2RL $ 0.56 $ 0.00 $ 0.56 % 6.720000000
2M $ 20,733.72 $ 0.00 $ 20,733.72 % 6.750000525
2B1 $ 8,409.95 $ 0.00 $ 8,409.95 % 6.749999965
2B2 $ 4,484.93 $ 0.00 $ 4,484.93 % 6.749994826
2B3 $ 4,484.93 $ 0.00 $ 4,484.93 % 6.749994826
2B4 $ 2,245.27 $ 0.00 $ 2,245.27 % 6.750011180
2B5 $ 4,485.39 $ 0.00 $ 4,485.39 % 6.750006659
20. Principal Distribution Amount: $ 8,064,316.70
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21. Principal Distribution Amount per Certificate:
Principal Distribution Accrual Amount
---------------------- --------------
Class PO2 $ 111.94 $ 0.00
Class 2A1 $ 0.00 $ 0.00
Class 2A2 $ 0.00 $ 0.00
Class 2A3 $ 0.00 $ 0.00
Class 2A4 $ 6,403,500.27 $ 0.00
Class 2A5 $ 1,233,266.72 $ 0.00
Class 2A6 $ 426,900.02 $ 0.00
Class 2A7 $ 0.00 $ 0.00
Class 2A8 $ 0.00 $ 5,631.37
Class 2A9 $ 0.00 $ 0.00
Class SUP2 $ 0.00 $ 0.00
Class 2R $ 0.00 $ 0.00
Class 2RL $ 0.00 $ 0.00
Class 2M $ 2,852.29 $ 0.00
Class 2B1 $ 1,156.94 $ 0.00
Class 2B2 $ 616.98 $ 0.00
Class 2B3 $ 616.98 $ 0.00
Class 2B4 $ 308.88 $ 0.00
Class 2B5 $ 617.05 $ 0.00
22. Additional distributions to the Class R Certificate pursuant to the
Agreement:
$ 0.00
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23. Additional distributions to the Class RL Certificate pursuant to the
Agreement:
$ 0.00
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24. Subordinate Certificate Writedown Amount: $ 0.00
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Accumulative
Class Supported Shortfall Supported Shortfall
----- ------------------- -------------------
2B1 $ 0.00 $ 0.00
2B2 $ 0.00 $ 0.00
2B3 $ 0.00 $ 0.00
2B4 $ 0.00 $ 0.00
2B5 $ 0.00 $ 0.00
25. Unanticipated Recoveries: $ 0.00
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26. The Certificate Interest Rate applicable to the Interest Accrual Period
relating to such Distribution Date applicable to any floating index
certificate.
Class Certificate Interest
Rates
Class 2A4 % 5.49999998
Class 2A5 % 12.98074997
Class 2A6 % 7.50000115
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution Triggers satisfied:
Yes No
--- --
Class-2B1 X
Class-2B2 X
Class-2B3 X
Class-2B4 X
Class-2B5 X
2. Base Servicing Fee amount: $ 35,228.48
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3. Supplemental Servicing Fee amount: $ 65,237.34
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4. Credit Losses for prior month: $ 0.00
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Category Category Category
A B C
5. Senior Percentage: % 95.501643 N/A N/A N/A
----------- ---- ------ ------
6. Group I Senior Percentage:
% N/A N/A N/A N/A
----------- ---- ------ ------
7. Group II Senior Percentage:
% N/A N/A N/A N/A
----------- ---- ------ ------
8. Senior Prepayment Percentage:
%100.000000 N/A N/A N/A
----------- ---- ------ ------
9. Group I Senior Prepayment
Percentage: % N/A N/A N/A N/A
----------- ---- ------ ------
10. Group II Senior Prepayment
Percentage: % N/A N/A N/A N/A
----------- ---- ------ ------
11. Junior Percentage: % 4.498357
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12. Junior Prepayment Percentage:
%100.000000
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Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Tim Neer
-------------------------------
Name: Tim Neer
Title: Vice President
Investor Operations