Exhibit 99.12
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
March 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-5
Pursuant to the Pooling and Servicing Agreement dated as of May 1, 1997
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank and Trust Company (the "Trustee"), governing the Certificates
referred to above, the Company hereby certifies to the Trustee:
(a) The amounts below (other than for Class R) are for a Single Certificate of
$1,000:
i) The amount of such distribution allocable to principal:
Class 5-A1......$ 38.95757662 Class 5-M......$ 0.71520424
Class 5-A2......$ 0.00000000 Class 5-B1.....$ 0.71520424
Class 5-A3......$ 0.00000000 Class 5-B2.....$ 0.71520550
Class 5-A4......$ 0.00000000 Class 5-B3.....$ 0.71520424
Class 5-A5......$ 0.71520424 Class 5-B4.....$ 0.71520842
Class 5-A6......$ 50.21697123 Class 5-B5.....$ 0.71520181
Class 5-A7......$ 0.00000000 Class 5-R......$ 0.00000000
Class 5-PO1.....$ 27.86487787
Class 5-PO2.....$ 0.99890325
ii) Principal Prepayments included in the above principal distribution
(including the Scheduled Principal Balances of all Defaulted Mortgage
Loans and Defective Mortgage Loans purchased pursuant to Section 2.02,
2.03 (b) or 3.16, respectively, and any amounts deposited pursuant to
Section 2.03(b) in connection with the substitution of any Mortgage
Loans pursuant to Section 2.02 or 2.03(a), the proceeds of which are
being distributed on such Distribution Date):
Class 5-A1......$ 37.98452247 Class 5-M......$ 0.00000000
Class 5-A2......$ 0.00000000 Class 5-B1.....$ 0.00000000
Class 5-A3......$ 0.00000000 Class 5-B2.....$ 0.00000000
Class 5-A4......$ 0.00000000 Class 5-B3.....$ 0.00000000
Class 5-A5......$ 0.69734039 Class 5-B4.....$ 0.00000000
Class 5-A6......$ 48.96268807 Class 5-B5.....$ 0.00000000
Class 5-A7......$ 0.00000000 Class 5-R......$ 0.00000000
Class 5-PO1.....$ 27.16888912
Class 5-PO2.....$ 0.97395337
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 5-A1......$ 4.89414946 Class 5-B1.....$ 6.20887930
Class 5-A2......$ 6.25000000 Class 5-B2.....$ 6.20887913
Class 5-A3......$ 6.25000000 Class 5-B3.....$ 6.20888134
Class 5-A4......$ 6.25000000 Class 5-B4.....$ 6.20889988
Class 5-A5......$ 6.20888022 Class 5-B5.....$ 6.20887952
Class 5-A6......$ 4.81197647 Class 5-R......$ 0.00000000
Class 5-A7......$ 0.00000000 Class 5-S1.....$ 0.42335981
Class 5-M.......$ 6.20887998 Class 5-S2.....$ 0.74816712
iv) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:.....$ 88,096.58
(b) The amounts below are for the aggregate of all Certificates.
v) The Pool Scheduled Principal Balances of each Mortgage Pool on the
preceding Due Date after giving effect to all distributions allocable
to principal made on such Distribution Date:.......$ 412,880,550.25
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:................. 1,572
vi) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to (i) all distributions allocable to principal
made on such Distribution Date and (ii) the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date:
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 5-A1................$ 23,208,337.24 $ 744.11
Class 5-A2................$ 201,185,712.00 $ 1,000.00
Class 5-A3................$ 6,100,000.00 $ 1,000.00
Class 5-A4................$ 1,950,000.00 $ 1,000.00
Class 5-A5................$ 9,860,387.19 $ 992.71
Class 5-A6................$ 149,302,467.88 $ 719.70
Class 5-A7................$ 0.00 $ 0.00
Class 5-PO1...............$ 118,425.20 $ 873.21
Class 5-PO2...............$ 492,274.95 $ 985.26
Class 5-M.................$ 7,292,803.70 $ 992.71
Class 5-B1................$ 4,861,869.15 $ 992.71
Class 5-B2................$ 3,646,402.34 $ 992.71
Class 5-B3................$ 2,430,934.55 $ 992.71
Class 5-B4................$ 729,280.27 $ 992.71
Class 5-B5................$ 1,701,655.78 $ 992.71
Class 5-R.................$ 0.00 $ 0.00
Class 5-S1................$ 112,716,042.14 $ 845.25
Class 5-S2................$ 271,343,309.66 $ 831.94
vii) The following pertains to any real estate acquired on behalf of
Certificateholders through foreclosure, or grant of a deed in lieu of
foreclosure or otherwise, of any REO Mortgage Loan:
book value...................................$ 0.00
unpaid principal balance.....................$ 0.00
number of related mortgage loans............. 0
viii)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:
(a) delinquent
(1) 30-59 days
Number * 20 Principal Balance $* 4,718,262.64
(2) 60-89 days
Number 5 Principal Balance $ 1,412,099.26
(3) 90 days or more
Number 2 Principal Balance $ 492,004.23
(b) in foreclosure
Number 5 Principal Balance $ 1,186,508.48
ix) The Scheduled Principal Balance of any Mortgage Loan replaced pursuant
to Section 2.03(b), and of any Modified Mortgage Loan purchased
pursuant to Section 3.01(c): .......................$ 0.00
x) The Certificate Interest Rates, applicable to the Interest Accrual
Period relating to such Distribution Date:
Class 5-S1: ........................ 0.443732%
Class 5-S2: ........................ 0.317681%
1. Senior Percentage for such Distribution Date: .... 95.12228400%
2. Category A-Senior Percentage for such Distribution
Date:............................................. 9.98784000%
3. Category B-Senior Percentage for such Distribution
Date:............................................. 85.13444400%
4. Category A-Percentage for such Distribution Date: 10.50000000%
5. Category B-Percentage for such Distribution Date: 89.50000000%
6. Group I Senior Percentage for such Distribution
Date: ............................................ 45.33671800%
7. Category A-Group I Senior Percentage for such
Distribution Date: ............................... 7.66018700%
8. Category B-Group I Senior Percentage for such
Distribution Date: ............................... 37.67653100%
9. Group II Senior Percentage for such Distribution
Date: ............................................ 49.78556600%
10. Category A-Group II Senior Percentage for such
Distribution Date: ............................... 2.32765300%
11. Category B-Group II Senior Percentage for such
Distribution Date: ............................... 47.45791300%
12. Category B-Group I Scheduled Distribution
Percentage:....................................... 85.13444400%
13. Category B-Group II Scheduled Distribution
Percentage:....................................... 0.00000000%
14. Senior Prepayment Percentage for such Distribution
Date:............................................. 100.00000000%
15. Category A-Senior Prepayment Percentage
for such Distribution Date: ...................... 10.50000000%
16. Category B-Senior Prepayment Percentage
for such Distribution Date: ...................... 89.50000000%
17. Group I Senior Prepayment Percentage for such
Distribution Date: ............................... 100.00000000%
18. Category A-Group I Senior Prepayment Percentage
for such Distribution Date: ...................... 10.50000000%
19. Category B-Group I Senior Prepayment Percentage
for such Distribution Date: ...................... 89.50000000%
20. Group II Senior Prepayment Percentage for such
Distribution Date: ............................... 0.00000000%
21. Category A-Group II Senior Prepayment Percentage
for such Distribution Date: ...................... 0.00000000%
22. Category B-Group II Senior Prepayment Percentage
for such Distribution Date: ...................... 0.00000000%
23. Junior Percentage for such Distribution Date: .... 4.87771600%
24. Junior Prepayment Percentage for such Distribution
Date:............................................. 0.00000000%
25. Subordinate Certificate Writedown Amount for such
Distribution Date: ...............................$ 0.00
* Due to a large servicing transfer in September 1997, the number of
Mortgage Loans 30-59 days delinquent may be inflated due to borrowers sending
monthly paymnets to the wrong location or delays by the Company loading 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
after transfer. However, the Company makes no assurances as to the level of
delinquent Mortgage Loans for future Distribution Dates.
