Exhibit 99.16
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
October, 1999
Series 1999-10, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of April 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 % 6.866313
------------------------
Weighted average maturity 170.85
------------------------
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 $ 3.69528965 $ 0.18253586 $ 0.00000000 %0.00000000
A1 $ 6.62644674 $ 3.09628200 $ 5.01623484 %6.25000000
A2 $ 7.38288671 $ 3.44973706 $ 4.99118829 %6.25000003
A3 $ 3.60065228 $ 1.68244544 $ 5.11639492 %6.25000022
S $ 0.00000000 $ 0.00000000 $ 0.33325565 %0.41584022
M $ 3.60065545 $ 0.00000000 $ 5.11639211 %6.24999679
B1 $ 3.60065672 $ 0.00000000 $ 5.11638806 %6.24999183
B2 $ 3.60064460 $ 0.00000000 $ 5.11639373 %6.24999878
B3 $ 3.60065574 $ 0.00000000 $ 5.11639344 %6.24999839
B4 $ 3.60065274 $ 0.00000000 $ 5.11639687 %6.25000266
B5 $ 3.60065602 $ 0.00000000 $ 5.11638659 %6.24999004
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:
$ 38,955.62
------------
C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 183,273,611.57
---------------
2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 643
-------------
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 36157RN92
PO $ 413,781.28 $ 412,223.50 $ 977.85 GEC9910PO
A1 $ 91,496,123.49 $ 90,866,611.06 $ 956.49 36157RN68
A2 $ 70,355,074.26 $ 69,813,052.84 $ 950.93 36157RN76
A3 $ 18,029,991.69 $ 17,963,905.39 $ 978.75 36157RN84
S $ 166,643,129.22 $ 165,454,838.99 $ 954.83 GEC99010S
M $ 1,693,567.59 $ 1,687,360.07 $ 978.75 36157RP25
B1 $ 658,173.02 $ 655,760.58 $ 978.75 36157RP33
B2 $ 563,867.63 $ 561,800.86 $ 978.75 36157RP41
B3 $ 659,155.37 $ 656,739.33 $ 978.75 36157RW68
B4 $ 376,239.20 $ 374,860.15 $ 978.75 36157RW76
B5 $ 282,332.61 $ 281,297.76 $ 978.75 36157RW84
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 4 Principal Balance $ 1,069,569.11
-------- -------------
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: $ 3,304,536.00
---------------
2. Bankruptcy Loss Amount: $ 100,000.00
---------------
3. Fraud Loss Amount: $ 1,915,010.00
---------------
4. Certificate Interest Rate of the Class S Certificate: % 0.00000000
-----------