Exhibit 99.74
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
February, 1999
Series 1999-01, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1999
(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 % 7.19781
-----------------------
Weighted average maturity 354.48
-----------------------
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 $1000.00000000 $ 945.30000000 $ 5.40000000 %6.48000000
PO $ 3.96464746 $ 3.00996379 $ 0.00000000 %0.00000000
A1 $ 0.81498449 $ 0.77038292 $ 5.41666671 %6.50000005
A2 $ 17.51608760 $ 16.55748623 $ 5.41666667 %6.50000001
A3 $ 0.00000000 $ 0.00000000 $ 5.41666429 %6.49999714
A4 $ 0.00000000 $ 0.00000000 $ 5.41666697 %6.50000036
A5 $ 0.00000000 $ 0.00000000 $ 5.41666678 %6.50000013
A6 $ 0.00000000 $ 0.00000000 $ 5.41666571 %6.49999886
A7 $ 0.00000000 $ 0.00000000 $ 6.66666667 %8.00000000
A8 $ 0.00000000 $ 0.00000000 $ 5.41666429 %6.49999714
A9 $ 0.00000000 $ 0.00000000 $ 5.41666429 %6.49999714
A10 $ 0.00000000 $ 0.00000000 $ 5.41666429 %6.49999714
A11 $ 0.00000000 $ 0.00000000 $ 5.41666429 %6.49999714
A12 $ 0.00000000 $ 0.00000000 $ 5.41666667 %6.50000000
A13 $ 0.00000000 $ 0.00000000 $ 6.66666667 %8.00000000
A14 $ 0.00000000 $ 0.00000000 $ 5.41667000 %6.50000400
A15 $ 0.00000000 $ 0.00000000 $ 5.41667000 %6.50000400
M $ 0.81498425 $ 0.00000000 $ 5.41666692 %6.50000031
B1 $ 0.81498356 $ 0.00000000 $ 5.41666674 %6.50000009
B2 $ 0.81498479 $ 0.00000000 $ 5.41666706 %6.50000047
B3 $ 0.81498479 $ 0.00000000 $ 5.41666706 %6.50000047
B4 $ 0.81498754 $ 0.00000000 $ 5.41666962 %6.50000355
B5 $ 0.81498161 $ 0.00000000 $ 5.41666417 %6.49999700
2. Unanticipated Recoveries: $ 0.00
---------------
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:
$ 51,667.74
-----------------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 694,750,701.24
-----------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 2,107
---------------
3.
Beginning Aggregate Class Ending Aggregate Ending
Certificate Principal Class Certificate Single Certificate
Class Balance Principal Balance Balance Cusip
- ----- ------- ----------------- ------- -----
R $ 100.00 $ 0.00 $ 0.00 36157RZY4
PO $ 987,918.86 $ 984,002.11 $ 996.04 GEC9901PO
A1 $ 67,565,789.00 $ 67,510,723.93 $ 999.19 36157RZH1
A2 $ 571,282,002.00 $ 561,275,376.41 $ 982.48 36157RZJ7
A3 $ 1,400,000.00 $ 1,400,000.00 $ 1,000.00 36157RZK4
A4 $ 8,341,146.00 $ 8,341,146.00 $ 1,000.00 36157RZL2
A5 $ 7,568,854.00 $ 7,568,854.00 $ 1,000.00 36157RZM0
A6 $ 3,500,000.00 $ 3,500,000.00 $ 1,000.00 36157RZN8
A7 $ 2,100,000.00 $ 2,100,000.00 $ 1,000.00 36157RZP3
A8 $ 1,400,000.00 $ 1,400,000.00 $ 1,000.00 36157RZQ1
A9 $ 1,400,000.00 $ 1,400,000.00 $ 1,000.00 36157RZR9
A10 $ 1,400,000.00 $ 1,400,000.00 $ 1,000.00 36157RZS7
A11 $ 1,400,000.00 $ 1,400,000.00 $ 1,000.00 36157RZT5
A12 $ 3,000,000.00 $ 3,000,000.00 $ 1,000.00 36157RZU2
A13 $ 3,300,000.00 $ 3,300,000.00 $ 1,000.00 36157RZV0
A14 $ 1,000,000.00 $ 1,000,000.00 $ 1,000.00 36157RZW8
A15 $ 1,000,000.00 $ 1,000,000.00 $ 1,000.00 36157RZX6
SUP $ 664,071,403.00 $ 654,014,896.36 $ 984.86 GEC991SUP
M $ 13,039,528.00 $ 13,028,900.99 $ 999.19 36157RZZ1
B1 $ 5,638,715.00 $ 5,634,119.54 $ 999.19 36157RA21
B2 $ 3,171,777.00 $ 3,169,192.05 $ 999.19 36157RA39
B3 $ 3,171,777.00 $ 3,169,192.05 $ 999.19 36157RA47
B4 $ 1,409,678.00 $ 1,408,529.13 $ 999.19 36157RA54
B5 $ 1,762,101.12 $ 1,760,665.04 $ 999.19 36157RA62
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 25 Principal Balance $ 11,906,252.95
-------- --------------
2. 60-89 days
Number 0 Principal Balance $ 0.00
-------- --------------
3. 90 days or more
Number 0 Principal Balance $ 0.00
-------- --------------
4. In Foreclosure
Number 0 Principal Balance $ 0.00
-------- --------------
5. Real Estate Owned
Number 0 Principal Balance $ 0.00
-------- --------------
6. The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to the Pooling And Servicing Agreement:
$ 0.00
----------
E. Other Information:
1. Special Hazard Loss Amount: $ 0.00
-------------
2. Bankruptcy Loss Amount: $ 0.00
-------------
3. Fraud Loss Amount: $ 0.00
-------------
4. Certificate Interest Rate of the Class S Certificate: % 0.00000000
-----------
G.
Opening Reimbursement Rounding Amount Closing
Class Balance Amount (Withdrawl) Balance
- ----- ------- ------ ----------- -------
A7_INT $ 42,000.00 $ 0.00 $ 2,625.00 $39,375.00
A13_INT $ 49,500.00 $ 0.00 $ 4,125.00 $45,375.00
A6 $ 999.99 $ 0.00 $ 0.00 $ 999.99
A12 $ 999.99 $ 0.00 $ 0.00 $ 999.99
A14 $ 999.99 $ 0.00 $ 0.00 $ 999.99
A15 $ 999.99 $ 0.00 $ 0.00 $ 999.99
*It has been the Company's experience that, with respect to the first
Distribution Date after the closing of a securitization containing a large
number of recently originated or acquired Mortgage Loans, the number of Mortgage
Loans 30-59 days delinquent may be inflated due to the borrowers sending monthly
payments to the wrong location or delays by the Company in inputting the
Mortgage Loans on its servicing system. It has also been the Company's
experience that for the majority of such Mortgage Loans the routing of
borrowers' monthly payments has corrected itself by the second Distribution
Date. However, the Company makes no assurances as to the level of delinquent
Mortgage Loans for future Distribution Dates.