GE CAPITAL MORTGAGE SERVICES, INC. Exhibit 99.34
Home Equity Loan Pass-Through Certificates,
Series 1996-HE3
EXHIBIT J
DISTRIBUTION DATE STATEMENT
JANUARY, 1997
Pursuant to the Pooling and Servicing Agreement dated as of September 1,
1996 (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:
The amounts below are for a Single
Certificate of $1,000:
(1) Amount of distribution
allocable to principal:
Class A1 00000XX00 29.53840953
------------- ---------------
Class A2 00000XX00 0.00000000
------------- ---------------
Class A3 00000XX00 0.00000000
------------- ---------------
Class A4 00000XX00 0.00000000
------------- ---------------
Class A5 00000XX00 0.00000000
------------- ---------------
Class M 00000XX00 1.32938999
------------- ---------------
Class B1 00000XX00 1.32938999
------------- ---------------
Class B2 00000XX00 1.32938997
------------- ---------------
Class B3 00000XX00 1.32938999
------------- ---------------
Class B4 00000XX00 1.32938998
------------- ---------------
Class B5 00000XX00 1.32938997
------------- ---------------
Class R1 00000XX00 0.00000000
------------- ---------------
Class R2 00000XX00 0.00000000
------------- ---------------
(2) Aggregate Principal
prepayments included in
distribution:
Class A1 00000XX00 970,736.74
------------- ---------------
Class A2 00000XX00 0.00
------------- ---------------
Class A3 00000XX00 0.00
------------- ---------------
Class A4 00000XX00 0.00
------------- ---------------
Class A5 00000XX00 0.00
------------- ---------------
Class M 00000XX00 0.00
------------- ---------------
Class B1 00000XX00 0.00
------------- ---------------
Class B2 00000XX00 0.00
------------- ---------------
Class B3 00000XX00 0.00
------------- ---------------
Class B4 00000XX00 0.00
------------- ---------------
Class B5 00000XX00 0.00
------------- ---------------
Class R1 00000XX00 0.00
------------- ---------------
Class R2 00000XX00 0.00
------------- ---------------
(3) Amount of distribution
allocable to interest Pay-out
Rate:
Class A1 00000XX00 5.47488782 6.950%
--------------------------------------------------------
Class A2 00000XX00 5.79166667 6.950%
--------------------------------------------------------
Class A3 00000XX00 5.95833333 7.150%
--------------------------------------------------------
Class A4 00000XX00 6.23750000 7.485%
--------------------------------------------------------
Class A5 00000XX00 6.60416667 7.925%
--------------------------------------------------------
Class S 36196HE3S 1.64850522 1.98%
--------------------------------------------------------
Class M 00000XX00 6.84922168 8.25%
--------------------------------------------------------
Class B1 00000XX00 6.84922168 8.25%
--------------------------------------------------------
Class B2 00000XX00 6.84922160 8.25%
--------------------------------------------------------
Class B3 00000XX00 6.84922169 8.25%
--------------------------------------------------------
Class B4 00000XX00 6.84922166 8.25%
--------------------------------------------------------
Class B5 00000XX00 6.84922161 8.25%
--------------------------------------------------------
(4) Servicing Compensation: 51,532.28
---------------
The amounts below are for the
aggregate of all Certificates:
(5) Pool Principal Balance; 115,462,420.23
---------------
number of Mortgage
Loans: 1,659
---------------
(6) Class Certificate Principal
Balance of each Class;
Certificate Principal Balance
of Single Certificate of each
class:
Single
Certificate
Class Cusip# Class Balance Balance
------------------------------------------------------------
Class A1 00000XX00 34,472,178.10 915.76596180
------------------------------------------------
Class A2 00000XX00 12,194,000.00 1000.00000000
------------------------------------------------
Class A3 00000XX00 24,250,000.00 1000.00000000
------------------------------------------------
Class A4 00000XX00 22,860,000.00 1000.00000000
------------------------------------------------
Class A5 00000XX00 10,911,000.00 1000.00000000
------------------------------------------------
Class M 00000XX00 2,748,910.11 994.92103574
------------------------------------------------
Class B1 00000XX00 2,924,373.39 994.92103614
------------------------------------------------
Class B2 00000XX00 994,288.26 994.92102529
------------------------------------------------
Class B3 00000XX00 1,637,648.98 994.92103756
------------------------------------------------
Class B4 00000XX00 584,875.27 994.92103316
------------------------------------------------
Class B5 00000XX00 745,809.65 975.91216937
------------------------------------------------
Class R1 00000XX00 0.00 0.00000000
------------------------------------------------
Class R2 00000XX00 0.00 0.00000000
------------------------------------------------
(7) Book value of real estate
acquired on behalf of
Certificateholders; number
of related Mortgage Loans:
0.00
---------------
0.00
---------------
(8) Aggregate Scheduled Principal
Balance and number of
delinquent Mortgage Loans:
One Payment Delinquent 2,721,932.98
---------------
47
---------------
Two Payments Delinquent 887,540.45
---------------
14
---------------
Three or more Payments Delinquent 264,511.02
---------------
5
---------------
TOTAL 3,873,984.45
---------------
66
---------------
In foreclosure 19,902.52
---------------
1
---------------
(9) Aggregate Scheduled Principal
Balance and number of replaced
Mortgage Loans:
0.00
---------------
(10) Unpaid Net Simple Interest
Shortfall:
Class A1 00000XX00 0.00
------------- ---------------
Class A2 00000XX00 0.00
------------- ---------------
Class A3 00000XX00 0.00
------------- ---------------
Class A4 00000XX00 0.00
------------- ---------------
Class A5 00000XX00 0.00
------------- ---------------
Class S 36196HE3S 0.00
------------- ---------------
Class M 00000XX00 0.00
------------- ---------------
Class B1 00000XX00 0.00
------------- ---------------
Class B2 00000XX00 0.00
------------- ---------------
Class B3 00000XX00 0.00
------------- ---------------
Class B4 00000XX00 0.00
------------- ---------------
Class B5 00000XX00 0.00
------------- ---------------
(11) Class Certificate Interest
Rate of:
Class A5 00000XX00 7.925%
------------- ---------------
Class M 00000XX00 8.25%
------------- ---------------
Class B1 00000XX00 8.25%
------------- ---------------
Class B2 00000XX00 8.25%
------------- ---------------
Class B3 00000XX00 8.25%
------------- ---------------
Class B4 00000XX00 8.25%
------------- ---------------
Class B5 00000XX00 8.25%
------------- ---------------
Class S 36196HE3S 1.98%
------------- ---------------
(12) Senior Percentage for such
Distribution Date 91.630760%
---------------
(13) Senior Prepayment Percentage
for such Distribution Date 100.00%
---------------
(14) Junior Percentage for such
Distribution Date 8.369240%
---------------
(15) Junior Prepayment Percentage
for such Distribution Date 0.00%
---------------
Capitalized terms used in this Certificate shall have the same meanings as in
the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /S/ Xxxxxx X. Xxxxxxx
-----------------------------------------------
Name: Xxxxxx X. Xxxxxxx
Title: Vice President Financial Information
