Exhibit 99.18
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
March 1998
REMIC Multi-Class Pass-Through Certificates
Series 1997-7
Pursuant to the Pooling and Servicing Agreement dated as of July 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:
With respect to the Agreement and as of the Determination Date for this
month:
(a) The amounts below are for a Single Certificate of $1,000:
i) The amount of such distribution allocable to principal:
Class 7-A1....$ 62.09778081 Class 7-A11....$ 0.00000000
Class 7-A2....$ 62.09778119 Class 7-A12....$ 0.00000000
Class 7-A3....$ 62.09782214 Class 7-PO.....$ 0.90963347
Class 7-A4....$ 42.02311660 Class 7-M......$ 0.69059152
Class 7-A5....$ 39.10875166 Class 7-B1.....$ 0.69059057
Class 7-A6....$ 0.00000000 Class 7-B2.....$ 0.69059166
Class 7-A7....$ 10.62071770 Class 7-B3.....$ 0.69059343
Class 7-A8....$ 0.00000000 Class 7-B4.....$ 0.69060032
Class 7-A9....$ 0.00000000 Class 7-B5.....$ 0.69058977
Class 7-A10...$ 0.00000000 Class 7-R......$ 0.00000000
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 7-A1....$ 61.17211357 Class 7-A8.....$ 0.00000000
Class 7-A2....$ 61.17211395 Class 7-A9.....$ 0.00000000
Class 7-A3....$ 61.17215429 Class 7-10.....$ 0.00000000
Class 7-A4....$ 41.39669450 Class 7-11.....$ 0.00000000
Class 7-A5....$ 38.52577285 Class 7-12.....$ 0.00000000
Class 7-A6....$ 0.00000000 Class 7-PO.....$ 0.89607392
Class 7-A7....$ 10.46239883 Class 7-M......$ 0.00000000
Class 7-B1....$ 0.00000000 Class 7-B4.....$ 0.00000000
Class 7-B2....$ 0.00000000 Class 7-B5.....$ 0.00000000
Class 7-B3....$ 0.00000000 Class 7-R......$ 0.00000000
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest; Pay-out Rate:
Class 7-A1....$ 6.11221742 Class 7-M.....$ 6.22041727
Class 7-A2....$ 4.88977477 Class 7-B1....$ 6.22041727
Class 7-A3....$ 4.85582037 Class 7-B2....$ 6.22041846
Class 7-A4....$ 5.19400830 Class 7-B3....$ 6.22041727
Class 7-A5....$ 5.88976377 Class 7-B4....$ 6.22040889
Class 7-A6....$ 5.93749977 Class 7-B5....$ 6.22040636
Class 7-A7....$ 5.79674641 Class 7-R.....$ 0.00000000
Class 7-A8....$ 6.25000000 Class 7-S.....$ 0.31743844
Class 7-A9....$ 0.00000000
Class 7-A10...$ 6.66666700
Class 7-A11...$ 6.25000000
Class 7-A12...$ 6.04166650
iv) Accrual Amount:
Class 7-A9........... $ 44,394.60
v) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:........$ 0.19687545
(b) The amounts below are for the aggregate of all Certificates.
vi) 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:..........$ 295,589,548.14
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:.................... 1,062
vii) 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 7-A1........ $ 23,747,498.50 $ 752.86
Class 7-A2........ $ 4,271,903.97 $ 752.86
Class 7-A3........ $ 112,906,339.09 $ 752.87
Class 7-A4........ $ 13,964,999.68 $ 832.76
Class 7-A5........ $ 29,851,143.04 $ 844.36
Class 7-A6........ $ 12,029,747.00 $ 1,000.00
Class 7-A7........ $ 3,832,468.80 $ 916.86
Class 7-A8........ $ 2,760,000.00 $ 1,000.00
Class 7-A9........ $ 7,147,531.20 $ 1,051.11
Class 7-A10....... $ 10,000,000.00 $ 1,000.00
Class 7-A11....... $ 40,000,000.00 $ 1,000.00
Class 7-A12....... $ 20,000,000.00 $ 1,000.00
Class 7-PO....... $ 273,169.67 $ 968.75
Class 7-M......... $ 5,225,204.63 $ 994.58
Class 7-B1........ $ 3,483,469.75 $ 994.58
Class 7-B2........ $ 2,612,601.83 $ 994.58
Class 7-B3........ $ 1,741,734.88 $ 994.58
Class 7-B4........ $ 522,519.56 $ 994.58
Class 7-B5........ $ 1,219,216.54 $ 994.58
Class 7-S......... $ 282,960,425.62 $ 839.84
Class 7-R......... $ 0.00 $ 0.00
viii)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
ix) 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 7 Principal Balance $ 1,660,377.79
(2) 60-89 days
Number 3 Principal Balance $ 691,307.43
(3) 90 days or more
Number 1 Principal Balance $ 243,618.23
(b) in foreclosure
Number 1 Principal Balance $ 224,462.87
x) 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
xi) The Senior Percentage for such Distribution Date: ... 95.206100%
The Junior Percentage for such Distribution Date: ... 4.793900%
xii) The Senior Prepayment Percentage for such Distribution
Date:................................................ 100.000000%
The Junior Prepayment Percentage for such Distribution
Date: ............................................... 0.000000%
