GE CAPITAL MORTGAGE SERVICES, INC. SERVICER'S CERTIFICATE OCTOBER 1998 Home Equity Loan Pass-Through Certificates, Series 1998-HE1
Exhibit 99.9
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
OCTOBER 1998
Home Equity Loan Pass-Through Certificates,
Series 1998-HE1
Pursuant to the Pooling and Servicing Agreement dated as of March 1, 1998
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company"),
and The First National Bank of Chicago (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 Monthly Payments Due: $1,326,880.84
-----------
(2) Aggregate Monthly Payments
received and Monthly Advances
made this Month:
(a) Principal $206,038.44
-----------
(b) Interest $1,107,741.71
-----------
(c) Total $1,313,780.15
-----------
(3) Aggregate Principal Prepayments in part received on Self-
Amortizing Mortgage Loans and applied in the applicable
Prepayment Period:
(a) Principal $27,289.62
--------
(c) Total $27,289.62
--------
(4) Aggregate Principal Prepayments
in full received in
the applicable Prepayment
period:
(a) Principal $1,939,438.10
-----------
(b) Interest $19,274.73
-----------
(c) Total $1,958,712.83
-----------
(5) Aggregate Insurance Proceeds (inculding purchases of Mortgage
Loans by primary mortgage insurers) for
prior month:
(a) Principal $0.00
------------
(b) Interest $0.00
------------
(c) Total $0.00
------------
(6) Aggregate Liquidation Proceeds for prior month:
(a) Principal $0.00
------------
(b) Interest $0.00
------------
(c) Total $0.00
------------
(7) Aggregate Purchase Prices for
Defaulted Mortgage Loans:
(a) Principal $0.00
------------
(b) Interest $0.00
------------
(c) Total $0.00
------------
(8) Aggregate Purchase Prices for (and substitution adjustments) for
Defective Mortgage Loans:
(a) Principal $0.00
------------
(b) Interest $0.00
------------
(c) Total $0.00
------------
(9) Aggregate Purchase Prices for
for Document Deficiencies per Sec. 2.02
(a) Principal $0.00
-------------
(b) Interest $0.00
-------------
(c) Total $0.00
-------------
(10) Pool Principal Balance $142,884,561.37
-------------
(11) Available Funds: $3,234,100.25
-------------
(12) Realized Losses for
prior month: $0.00
-------------
(13) Aggregate Realized
Losses: $0.00
-------------
(a) Deficient Valuations $0.00
-------------
(b) Special Hazard Losses $0.00
-------------
(c) Fraud Losses $0.00
-------------
(d) Excess Bankruptcy Losses $0.00
-------------
(e) Excess Special Hazard Losses $0.00
-------------
(f ) Excess Fraud Losses $0.00
-------------
(14) Compensating Interest
Payment: $1,012.70
-------------
(15) Net Simple Interest
Shortfall: $0.00
-------------
(16) Net Simple Interest
Excess: $0.00
-------------
(17) Simple Interest Shortfall
Payment: $0.00
-------------
(18) Unpaid Net Simple Interest
Shortfall:
Class A1 00000XXX0 $0.00
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Class A2 00000XXX0 $0.00
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Class A3 00000XXX0 $0.00
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Class A4 00000XXX0 $0.00
------------- ---------------------
Class A5 00000XXX0 $0.00
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Class A6 00000XXX0 $0.00
------------- ---------------------
Class A7 00000XXX0 $0.00
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Class S 36198HE1 $0.00
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Class M 00000XXX0 $0.00
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Class B1 00000XXX0 $0.00
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Class B2 36158GBC2 $0.00
------------- ---------------------
Class B3 00000XXX0 $0.00
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Class B4 00000XXX0 $0.00
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Class B5 00000XXX0 $0.00
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(19) Class Certificate Interest
Rate:
Class M 00000XXX0 6.950%
------------- ---------------------
Class B1 00000XXX0 7.240%
------------- ---------------------
Class B2 36158GBC2 7.590%
------------- ---------------------
Class B3 00000XXX0 8.913%
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Class B4 00000XXX0 8.913%
------------- ---------------------
Class B5 00000XXX0 8.913%
------------- ---------------------
Class S 36198HE1 2.31%
------------- ---------------------
(20) Accrued Certificate Interest
and Pay-out Rate:
Class A1 00000XXX0 $178,037.67 6.525%
------------- ----------------------
Class A2 00000XXX0 $102,768.33 6.260%
------------- ----------------------
Class A3 00000XXX0 $117,105.00 6.330%
------------- ----------------------
Class A4 00000XXX0 $56,886.67 6.440%
------------- ----------------------
Class A5 00000XXX0 $70,197.50 6.530%
------------- ----------------------
Class A6 00000XXX0 $103,348.17 6.940%
------------- ----------------------
Class A7 00000XXX0 $76,540.21 6.465%
------------- ----------------------
Class S 36198HE1 $275,145.26 2.31%
------------- ----------------------
Class M 00000XXX0 $22,228.99 6.950%
------------- ----------------------
Class B1 00000XXX0 $20,842.07 7.240%
------------- ----------------------
Class B2 36158GBC2 $9,711.64 7.590%
------------- ----------------------
Class B3 00000XXX0 $11,404.92 8.913%
------------- ----------------------
Class B4 00000XXX0 $8,555.53 8.913%
------------- ----------------------
Class B5 00000XXX0 $8,562.12 8.913%
------------- ----------------------
Total $1,061,334.09
(21) Principal distributable:
Class A1 00000XXX0 $2,154,499.38
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Class A2 00000XXX0 $0.00
------------- ---------------------
Class A3 00000XXX0 $0.00
------------- ---------------------
Class A4 00000XXX0 $0.00
------------- ---------------------
Class A5 00000XXX0 $0.00
------------- ---------------------
Class A6 00000XXX0 $0.00
------------- ---------------------
Class A7 00000XXX0 $0.00
------------- ---------------------
Class M 00000XXX0 $5,534.39
------------- ---------------------
Class B1 00000XXX0 $4,981.24
------------- ---------------------
Class B2 36158GBC2 $2,214.04
------------- ---------------------
Class B3 00000XXX0 $2,214.04
------------- ---------------------
Class B4 00000XXX0 $1,660.89
------------- ---------------------
Class B5 00000XXX0 $1,662.17
------------- ---------------------
Class R1 00000XXX0 $0.00
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Class R2 00000XXX0 $0.00
------------- ---------------------
Total $2,172,766.16
(22) Additional distributions to
the Class R1 Certificate
pursuant to Section 2.05 (d) : $0.00
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(23) Additional distributions to
the Class R2 Certificate
pursuant to Section 4.01 (b) : $0.00
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B. Other Amounts:
1) Senior Percentage for such
Distribution Date 91.134287%
--------
2) Senior Prepayment Percentage
for such Distribution Date 100.00%
--------
3) Junior Percentage for such
Distribution Date 8.865713%
--------
4) Junior Prepayment Percentage
--------
for such Distribution Date 0.00%
--------
5) Subordinate Certfificate Writedown Amount
for such Distribution Date $0.00
--------
6) Prepayment Distribution Triggers satisfied:
Yes No
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Class B1 X
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Class B2 X
-----------------------------------
Class B3 X
-----------------------------------
Class B4 X
-----------------------------------
Class B5 X
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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/ Xxx Xxxx
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Name: Xxx Xxxx
Title: Vice President of Investor Operations
