Exhibit 99.54
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
February, 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 % 7.287533
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Weighted average maturity 353.23
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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 $ 1.12993600 $ 0.23211053 $ 0.00000000 %0.00000000
A1 $ 15.03376762 $ 14.10995882 $ 5.42252212 %6.74999998
A2 $ 0.00000000 $ 0.00000000 $ 5.62500068 %6.75000081
A3 $ 0.80961245 $ 0.75986260 $ 5.61157131 %6.75000011
A4 $ 24.81260009 $ 23.28789259 $ 5.29081881 %6.74999999
A5 $ 0.00000000 $ 0.00000000 $ 5.62500010 %6.75000011
A6 $ 17.54682185 $ 16.46858861 $ 5.38867581 %6.75000001
A7 $ 0.00000000 $ 0.00000000 $ 5.62500000 %6.75000000
A9 $ 17.54682189 $ 16.46858849 $ 5.18909527 %6.50000006
A8 $ 0.00000000 $ 0.00000000 $ 0.19958062 %0.25000004
A10 $ 0.00000000 $ 0.00000000 $ 4.83333341 %5.80000010
A11 $ 0.00000000 $ 0.00000000 $ 7.99999918 %9.59999902
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 $ 0.80961293 $ 0.00000000 $ 5.61157128 %6.75000008
B1 $ 0.80961165 $ 0.00000000 $ 5.61157128 %6.75000007
B2 $ 0.80961288 $ 0.00000000 $ 5.61157148 %6.75000033
B3 $ 0.80961096 $ 0.00000000 $ 5.61157088 %6.74999959
B4 $ 0.80961022 $ 0.00000000 $ 5.61157188 %6.75000082
B5 $ 0.80960815 $ 0.00000000 $ 5.61156838 %6.74999681
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:
$ 93,310.47
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C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 500,063,242.12
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2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 1,510
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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 $ 985,958.73 $ 984,840.48 $ 995.13 GEC9817PO
A1 $ 97,023,546.91 $ 95,510,451.99 $ 948.97 36157RTA3
A2 $ 7,371,000.00 $ 7,371,000.00 $ 1,000.00 36157RTB1
A3 $ 49,882,589.38 $ 49,842,107.17 $ 996.80 36157RTC9
A4 $ 47,270,291.64 $ 46,023,309.61 $ 915.78 36157RTD7
A5 $ 32,689,411.00 $ 32,689,411.00 $ 1,000.00 36157RTE5
A6 $ 172,380,538.47 $ 169,223,156.17 $ 940.44 36157RTF2
A7 $ 9,672,000.00 $ 9,672,000.00 $ 1,000.00 36157RTG0
A9 $ 24,189,164.09 $ 23,746,106.89 $ 940.44 36157RTJ4
A8 $ 24,189,164.09 $ 23,746,106.89 $ 940.44 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 $ 459,284,339.22 $ 452,912,209.27 $ 954.45 GE9817SUP
RL $ 0.00 $ 0.00 $ 0.00 36157RTN5
M $ 7,809,311.91 $ 7,802,974.27 $ 996.80 36157RTP0
B1 $ 3,904,655.96 $ 3,901,487.13 $ 996.80 36157RTQ8
B2 $ 2,602,771.43 $ 2,600,659.15 $ 996.80 36157RTR6
B3 $ 3,384,899.76 $ 3,382,152.74 $ 996.80 36157RVA0
B4 $ 1,561,263.81 $ 1,559,996.77 $ 996.80 36157RVB8
B5 $ 1,562,647.85 $ 1,561,379.69 $ 996.80 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 $ 4,035,968.49
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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 $ 649,056.11
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4. In Foreclosure
Number 1 Principal Balance $ 250,183.61
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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 % 5.80000010
A11 % 9.59999902
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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