Exhibit 99.3
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
APRIL 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-2
Pursuant to the Pooling and Servicing Agreement dated as of February 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. Mortgage Loan Information:
1. Aggregate Scheduled Monthly
Payments:
Pool 1 Pool 2
------ ------
(a) Principal ....... $ 304,003.85 $273,600.73
------------------- -----------
(b) Interest ........ $ 2,965,572.26 $568,979.74
------------------- -----------
(c) Total ........... $ 3,269,576.11 $842,580.47
------------------- -----------
2. Aggregate Monthly Payments Received and Monthly
Advances made this month:
(a) Principal ....... $ 304,003.85 $273,600.73
------------------- -----------
(b) Interest ........ $ 2,877,382.19 $550,129.88
------------------- -----------
(c) Total ........... $ 3,181,386.04 $823,730.61
------------------- -----------
3. Aggregate Principal Prepayments in part received
and applied in the applicable
Prepayment Period:..... $ 114,804.24 $31,662.56
------------------- ----------
4. Aggregate Principal Prepayments in full received
in the applicable Prepayment Period:
(a) Principal ....... $ 1,811,952.76 $ 0.00
------------------- ----------
(b) Interest ........ $ 8,472.83 $ 0.00
------------------- ----------
(c) Total ........... $ 1,820,425.59 $ 0.00
------------------- ----------
5. Aggregate Insurance Proceeds (including purchases of Mortgage Loans
by primary mortgage insurers)
for prior month:
Pool 1 Pool 2
------ ------
(a) Principal ....... $ 0.00 $ 0.00
------------------- ----------
(b) Interest ........ $ 0.00 $ 0.00
------------------- ----------
(c) Total ........... $ 0.00 $ 0.00
------------------- ----------
6. Aggregate Liquidation Proceeds
for prior month:
(a) Principal ....... $ 0.00 $ 0.00
------------------- ----------
(b) Interest ........ $ 0.00 $ 0.00
------------------- ----------
(c) Total ........... $ 0.00 $ 0.00
------------------- ----------
7. Aggregate Purchase Prices for
Defaulted and Modified Mortgage Loans:
(a) Principal ....... $ 0.00 $ 0.00
------------------- ----------
(b) Interest ........ $ 0.00 $ 0.00
------------------- ----------
(c) Total ........... $ 0.00 $ 0.00
------------------- ----------
8. Aggregate Purchase Prices (and subsitution
adjustments) for Defective Mortgage Loans:
(a) Principal ....... $ 0.00 $ 0.00
------------------- ----------
(b) Interest ........ $ 0.00 $ 0.00
------------------- ----------
(c) Total ........... $ 0.00 $ 0.00
------------------- ----------
9. Pool Scheduled Principal
Balance................ $ 443,156,798.18 $88,189,298.77
------------------- --------------
10. Available Funds: ...... $ 5,116,615.87 $ 855,393.17
------------------- --------------
11. Realized Losses for Prior Month:
$ 0.00 $ 0.00
------------------- --------------
12. Aggregrate Realized Losses
and Debt Service Reductions:
(a) Deficient Valuations: $ 0.00 $ 0.00
------------ ---------
(b) Special Hazard Losses: $ 0.00 $ 0.00
------------ ---------
(c) Fraud Losses: $ 0.00 $ 0.00
------------ ---------
(d) Excess Bankruptcy Losses: $ 0.00 $ 0.00
------------ ---------
(e) Excess Special Hazard
Losses: $ 0.00 $ 0.00
------------ ---------
(f) Excess Fraud Losses: $ 0.00 $ 0.00
------------ ---------
(g) Debt Service Reductions: $ 0.00 $ 0.00
------------ ---------
Pool 1 Pool 2
------ ------
13. Compensating Interest Payment:$ 4325.94 $ 208.33
------------ ---------
14. Accrued Certificate Interest, unpaid Class Interest
Shortfalls and Pay-out Rate:
Class 1-A1...$ 278,136.18 $ 0.00 6.50000000%
---------------- -------------- ----------
Class 1-A2...$ 369,154.15 $ 0.00 6.75000000%
---------------- -------------- ----------
Class 1-A3...$ 32,593.78 $ 0.00 7.50000000%
---------------- -------------- ----------
Class 1-A4...$ 343,347.74 $ 0.00 7.00000000%
---------------- -------------- ----------
Class 1-A5...$ 156,541.73 $ 0.00 7.50000000%
---------------- -------------- ----------
Class 1-A6...$ 116,541.19 $ 0.00 7.50000000%
---------------- -------------- ----------
Class 1-A7...$ 375,702.58 $ 0.00 7.50000000%
---------------- -------------- ----------
Class 1-A8...$ 37,157.64 $ 0.00 6.93750000%
---------------- -------------- ----------
Class 1-A9...$ 11,046.87 $ 0.00 10.31250000%
---------------- -------------- -----------
Class 1-A10..$ 55,217.85 $ 0.00 7.50000000%
---------------- -------------- ----------
Class 1-A11..$ 153,603.50 $ 0.00 7.50000000%
---------------- -------------- ----------
Class 1-A12..$ 36,793.61 $ 0.00 7.50000000%
---------------- -------------- ----------
Class 1-A13..$ 11,315.00 $ 0.00 7.75000000%
---------------- -------------- ----------
Class 1-A14..$ 1,460.00 $ 0.00 6.00000000%
---------------- -------------- ----------
Class 1-A15..$ 43,560.94 $ 0.00 7.50000000%
---------------- -------------- ----------
Class 1-A16..$ 262,323.58 $ 0.00 7.50000000%
---------------- -------------- ----------
Class 1-A17..$ 18,737.40 $ 0.00 7.50000000%
---------------- -------------- ----------
Class 1-S....$ 108,660.09 $ 0.00 0.32935666%
---------------- -------------- ----------
Class 1-M....$ 56,255.92 $ 0.00 7.50000000%
---------------- -------------- ----------
Class 1-B1...$ 28,124.83 $ 0.00 7.50000000%
---------------- -------------- ----------
Class 1-B2...$ 28,124.83 $ 0.00 7.50000000%
---------------- -------------- ----------
Class 1-B3...$ 14,065.54 $ 0.00 7.50000000%
---------------- -------------- ----------
Class 1-B4...$ 4,222.16 $ 0.00 7.50000000%
---------------- -------------- ----------
Class 1-B5...$ 9,847.60 $ 0.00 7.50000000%
---------------- -------------- ----------
Class 1-R....$ 0.00 $ 0.00 7.50000000%
---------------- -------------- ----------
Class 1-RL...$ 0.00 $ 0.00 7.50000000%
---------------- -------------- ----------
Class 2-A1...$ 87,268.86 $ 0.00 7.00000000%
---------------- -------------- ----------
Class 2-A2...$ 71,299.58 $ 0.00 6.50000000%
---------------- -------------- ----------
Class 2-A3...$ 69,501.25 $ 0.00 6.50000000%
---------------- -------------- ----------
Class 2-A4...$ 10,830.83 $ 0.00 7.00000000%
---------------- -------------- ----------
Class 2-A5...$ 144,267.25 $ 0.00 7.00000000%
---------------- -------------- ----------
Class 2-A6...$ 65,567.12 $ 0.00 7.00000000%
---------------- -------------- ----------
Class 2-A7...$ 52,342.09 $ 0.00 7.00000000%
---------------- -------------- ----------
Class 2-S....$ 34,654.59 $ 0.00 0.50331156%
---------------- -------------- ----------
Class 2-M....$ 5,235.75 $ 0.00 7.00000000%
---------------- -------------- ----------
Class 2-B1...$ 2,617.87 $ 0.00 7.00000000%
---------------- -------------- ----------
Class 2-B2...$ 2,617.87 $ 0.00 7.00000000%
---------------- -------------- ----------
Class 2-B3...$ 1,570.72 $ 0.00 7.00000000%
---------------- -------------- ----------
Class 2-B4...$ 1,047.15 $ 0.00 7.00000000%
---------------- -------------- ----------
Class 2-B5...$ 1,308.95 $ 0.00 7.00000000%
---------------- -------------- ----------
15. Principal Distribution Amount:
Class 1-A1...$ 0.00 Class 2-A1......$ 269,436.97
------------- ----------------
Class 1-A2...$ 0.00 Class 2-A2......$ 0.00
------------- ----------------
Class 1-A3...$ 0.00 Class.2-A3......$ 0.00
------------- ----------------
Class 1-A4...$ 502,562.41 Class.2-A4......$ 0.00
------------- ----------------
Class 1-A5...$ 154,434.18 Class.2-A5......$ 0.00
------------- ----------------
Class 1-A6...$ 119,326.63 Class.2-A6......$ 0.00
------------- ----------------
Class 1-A7...$ 273,760.82 Class 2-A7......$ 27,739.96
------------- ----------------
Class 1-A8...$ 349,358.56 Class 2-PO......$ 455.66
------------- ----------------
Class 1-A9...$ 69,871.71 Class 2-M.......$ 2,774.80
------------- ----------------
Class 1-A10..$ 230,442.52 Class 2-B1......$ 1,387.40
------------- ----------------
Class 1-A11..$ 188,328.71 Class 2-B2......$ 1,387.40
------------- ----------------
Class 1-A12..$ 0.00 Class 2-B3......$ 832.44
------------- ----------------
Class 1-A13..$ 0.00 Class 2-B4......$ 554.96
------------- ----------------
Class 1-A14..$ 0.00 Class 2-B5......$ 693.70
------------- ----------------
Class 1-A15..$ 628,627.41
-------------
Class 1-A16..$ 28,640.98
-------------
Class 1-A17..$ 2,045.78
-------------
Class 1-PO...$. 1,326.18
-------------
Class 1-M....$ 6,142.06
-------------
Class 1-B1...$ 3,070.69
-------------
Class 1-B2...$ 3,070.69
-------------
Class 1-B3...$. 1,535.69
-------------
Class 1-B4...$ 460.98
-------------
Class 1-B5...$ 1,075.16
-------------
Class 1-R....$ 0.00
-------------
Class 1-RL...$ 0.00
-------------
16. Additional Distributions to the Class R Certificate
pursuant to Section 4.01 (c):.......................$ 0
-------------
17. Additional Distributions to the Class RL Certificate
pursuant to Section 2.05 (d):.......................$ 0
-------------
18. Certificate Interest Rate of:
Class 1-A8.......................................... 6.93750000%
----------
Class 1-A9.......................................... 10.31250000%
-----------
Class 1-S........................................... 0.32935666%
----------
Class 2-S........................................... 0.50331156%
----------
B. Other Amounts for such
Distribution Date:
Pool 1 Pool 2
------ ------
1. Senior Percentage: ........ 94.93590000% 97.20680000%
----------- -----------
2. Group I Senior Percentage:.. 84.81554690% 87.05264700%
----------- -----------
3. Group II Senior Percentage:. 10.12035310% 10.15415300%
----------- -----------
Pool 1 Pool 2
------ ------
4. Senior Prepayment Percentage: 100.00000000% 100.00000000%
------------ ------------
5. Group I Senior Prepayment
Percentage: ................ 100.00000000% 100.00000000%
------------ ------------
6. Group II Senior Prepayment
Percent: ................... 0.00000000% 0.00000000%
---------- ----------
7. Group I Scheduled Distribution
Percent: ................... 0.00000000% N/A
---------- -----
8. Group II Scheduled Distribution
Percentage: ................ 0.00000000% N/A
---------- -----
9. Junior Percentage: ........ 5.06410000% 2.79320000%
---------- ----------
10. Junior Prepayment Percentage: 0.00000000% 0.00000000%
---------- ----------
11. Subordinate Certificate
Writedown: ..... $ 0.00 $ 0.00
---------- ----------
12. Prepayment Triggers satisfied:
YES NO
--- --
Class 1-B1............... X
--- ---
Class 1-B2............... X
--- ---
Class 1-B3............... X
--- ---
Class 1-B4............... X
--- ---
Class 1-B5............... X
--- ---
Class 2-B1............... X
--- ---
Class 2-B2............... X
--- ---
Class 2-B3............... X
--- ---
Class 2-B4............... X
--- ---
Class 2-B5............... X
--- ---
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Xxxxx Xxxxxxx
----------------------------------
Name: Xxxxx Xxxxxxx
Title: Vice-President,
Investor Operations
