Exhibit 99.24
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
June, 1999
Series 1999-12, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of May 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 % 6.87874
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Weighted average maturity 172.78
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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 $ 1000.00000000 $ 788.60000000 $ 5.20000000 %6.24000000
PO $ 45.06682290 $ 41.64979270 $ 0.00000000 %0.00000000
A1 $ 3.56603038 $ 2.81206723 $ 5.20833358 %6.25000030
A2 $ 20.50839862 $ 16.17232356 $ 5.20833338 %6.25000006
A3 $ 16.86578300 $ 13.29986346 $ 5.20833331 %6.24999997
S $ 0.00000000 $ 0.00000000 $ 0.35749910 %0.42899892
M $ 3.56603001 $ 0.00000000 $ 5.20833237 %6.24999885
B1 $ 3.56602963 $ 0.00000000 $ 5.20834074 %6.25000889
B2 $ 3.56603806 $ 0.00000000 $ 5.20833910 %6.25000692
B3 $ 3.56602374 $ 0.00000000 $ 5.20833828 %6.25000593
B4 $ 3.56602597 $ 0.00000000 $ 5.20833766 %6.25000519
B5 $ 3.56604383 $ 0.00000000 $ 5.20832219 %6.24998663
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:
$ 16,210.14
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C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 189,454,214.75
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2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 645
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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 36157RX42
PO $ 500,425.78 $ 477,873.18 $ 954.93 GEC9912PO
A1 $ 12,432,345.00 $ 12,388,010.88 $ 996.43 36157RW92
A2 $ 45,392,413.00 $ 44,461,487.30 $ 979.49 36157RX26
A3 $ 130,000,000.00 $ 127,807,448.21 $ 983.13 36157RX34
S $ 174,696,691.67 $ 172,191,186.35 $ 985.66 GEC99012S
M $ 1,733,000.00 $ 1,726,820.07 $ 996.43 36157RX59
B1 $ 675,000.00 $ 672,592.93 $ 996.43 36157RX67
B2 $ 578,000.00 $ 575,938.83 $ 996.43 36157RX75
B3 $ 674,000.00 $ 671,596.50 $ 996.43 36157R2K0
B4 $ 385,000.00 $ 383,627.08 $ 996.43 36157R2L8
B5 $ 289,853.42 $ 288,819.79 $ 996.43 36157R2M6
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 10 Principal Balance $ 2,788,822.53
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2. 60-89 days
Number 0 Principal Balance $ 0.00
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3. 90 days or more
Number 0 Principal Balance $ 0.00
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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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*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.