Exhibit 99.08
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
April, 1999
Series 1999-03, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of March 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 % 7.167809
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Weighted average maturity 354.52
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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 $ 927.60000000 $ 5.40000000 % 6.48000000
PO $ 1.19724707 $ 0.24810854 $ 0.00000000 % 0.00000000
A1 $ 15.78680657 $ 14.64408806 $ 5.41666664 % 6.49999997
A2 $ 0.00000000 $ 0.00000000 $ 5.41666606 % 6.49999927
A3 $ 0.00000000 $ 0.00000000 $ 4.74999980 % 5.69999976
A4 $ 0.00000000 $ 0.00000000 $ 6.83064499 % 8.19677399
A5 $ 0.00000000 $ 0.00000000 $ 5.41666660 % 6.49999992
A6 $ 0.00000000 $ 0.00000000 $ 5.41666667 % 6.50000000
A7 $ 0.00000000 $ 0.00000000 $ 5.41666667 % 6.50000000
A8 $ 0.00000000 $ 0.00000000 $ 5.41666500 % 6.49999800
A9 $ 0.00000000 $ 0.00000000 $ 5.41666500 % 6.49999800
A10 $ 0.00000000 $ 0.00000000 $ 5.62500203 % 6.75000244
A11 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
A12 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
A13 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
A14 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
A15 $ 12.92454669 $ 11.98901110 $ 5.41666669 % 6.50000003
A16 $ 14.34619648 $ 13.30775555 $ 5.41666662 % 6.49999995
A17 $ 48.35303820 $ 44.85303243 $ 5.41666639 % 6.49999967
A18 $ 0.00000000 $ 0.00000000 $ 5.41666680 % 6.50000016
S $ 0.00000000 $ 0.00000000 $ 0.37788083 % 0.45345699
M $ 0.82133168 $ 0.00000000 $ 5.41666649 % 6.49999978
B1 $ 0.82133259 $ 0.00000000 $ 5.41666667 % 6.50000000
B2 $ 0.82133049 $ 0.00000000 $ 5.41666889 % 6.50000267
B3 $ 0.82133259 $ 0.00000000 $ 5.41666533 % 6.49999840
B4 $ 0.82133573 $ 0.00000000 $ 5.41666667 % 6.50000000
B5 $ 0.82133143 $ 0.00000000 $ 5.41666340 % 6.49999608
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:
$ 36,139.18
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C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 494,625,925.11
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2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 1,435
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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 00000XX00
PO $ 707,230.80 $ 706,384.07 $ 998.80 GEC9903PO
A1 $ 134,000,000.00 $ 131,884,567.92 $ 984.21 00000XX00
A2 $ 5,456,000.00 $ 5,456,000.00 $ 1,000.00 00000XX00
A3 $ 21,053,083.00 $ 21,053,083.00 $ 1,000.00 00000XX00
A4 $ 8,475,917.00 $ 8,475,917.00 $ 1,000.00 00000XX00
A5 $ 50,000,000.00 $ 50,000,000.00 $ 1,000.00 00000XX00
A6 $ 3,000,000.00 $ 3,000,000.00 $ 1,000.00 00000XX00
A7 $ 3,000,000.00 $ 3,000,000.00 $ 1,000.00 00000XX00
A8 $ 2,000,000.00 $ 2,000,000.00 $ 1,000.00 00000XX00
A9 $ 2,000,000.00 $ 2,000,000.00 $ 1,000.00 00000XX00
A10 $ 2,461,000.00 $ 2,461,000.00 $ 1,000.00 00000XX00
A11 $ 1,968,000.00 $ 1,968,000.00 $ 1,000.00 00000XX00
A12 $ 1,968,000.00 $ 1,968,000.00 $ 1,000.00 00000XX00
A13 $ 1,968,000.00 $ 1,968,000.00 $ 1,000.00 00000XX00
A14 $ 1,478,000.00 $ 1,478,000.00 $ 1,000.00 00000XX00
A15 $ 127,000,000.00 $ 125,358,582.57 $ 987.08 00000XX00
A16 $ 76,424,000.00 $ 75,327,606.28 $ 985.65 00000XX00
A17 $ 12,119,000.00 $ 11,533,009.53 $ 951.65 00000XX00
A18 $ 25,000,000.00 $ 25,000,000.00 $ 1,000.00 00000XX00
S $ 473,927,698.84 $ 468,506,258.00 $ 988.56 GEC99003S
M $ 9,251,500.00 $ 9,243,901.45 $ 999.18 00000XX00
B1 $ 3,750,600.00 $ 3,747,519.51 $ 999.18 00000XX00
B2 $ 2,250,300.00 $ 2,248,451.76 $ 999.18 00000XX00
B3 $ 2,500,400.00 $ 2,498,346.34 $ 999.18 00000XX00
B4 $ 1,000,200.00 $ 999,378.50 $ 999.18 00000XX00
B5 $ 1,251,200.14 $ 1,250,172.49 $ 999.18 00000XX00
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 36 Principal Balance $ 12,218,701.23
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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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7. The Certificate Interest Rate applicable to the Interest Accrual
Period relating to such Distribution Date applicable to any floating
index certificate:
Certificate Interest
Class Rates
A3 % 5.69999976
A4 % 8.19677399
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.
