GE CAPITAL MORTGAGE SERVICES, INC. Exhibit #99.24
Home Equity Loan Pass-Through Certificates,
Series 1996-HE2
EXHIBIT J
DISTRIBUTION DATE STATEMENT
MARCH, 1997
Pursuant to the Pooling and Servicing Agreement dated as of June 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 00000XXX0 33.49376938
------------- ---------------
Class A2 00000XXX0 0.00000000
------------- ---------------
Class A3 00000XXX0 0.00000000
------------- ---------------
Class A4 00000XXX0 0.00000000
------------- ---------------
Class A5 00000XXX0 0.00000000
------------- ---------------
Class A6 00000XXX0 0.00000000
------------- ---------------
Class R1 00000XXX0 0.00000000
------------- ---------------
Class R2 00000XXX0 0.00000000
------------- ---------------
(2) Amount of distribution
allocable to interest Pay-out
Rate:
Class A1 00000XXX0 4.59920096 6.90%
------------- --------------- ---------------
Class A2 00000XXX0 5.91666667 7.10%
------------- --------------- ---------------
Class A3 00000XXX0 6.08333333 7.30%
------------- --------------- ---------------
Class A4 00000XXX0 6.37500000 7.65%
------------- --------------- ---------------
Class A5 00000XXX0 6.61666667 7.94%
------------- --------------- ---------------
Class A6 00000XXX0 6.66666667 8.00%
------------- --------------- ---------------
Class S 36196HE2S 0.91468292 1.10%
------------- --------------- ---------------
(3) Servicing Compensation: 68,683.67
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The amounts below are for the
aggregate of all Certificates:
(4) Pool Principal Balance; 143,618,843.89
---------------
number of Mortgage
Loans: 1,850
---------------
(5) Principal Prepayments included for
Defaulted Mortgage Loans, Defective
Mortgage Loans, or Liquidating Loans 0.00
---------------
(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 00000XXX0 34,793,073.91 766.36726674
------------------------------------------------
Class A2 00000XXX0 11,325,000.00 1000.00000000
------------------------------------------------
Class A3 00000XXX0 33,775,000.00 1000.00000000
------------------------------------------------
Class A4 00000XXX0 29,775,000.00 1000.00000000
------------------------------------------------
Class A5 00000XXX0 14,025,000.00 1000.00000000
------------------------------------------------
Class A6 00000XXX0 18,405,152.00 1000.00000000
------------------------------------------------
Class R1 00000XXX0 0.00 0.00000000
------------------------------------------------
Class R2 00000XXX0 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 2,643,088.44
---------------
35
---------------
Two Payments Delinquent 325,257.08
---------------
6
---------------
Three or more Payments Delinquent 60,754.11
---------------
3
---------------
TOTAL 3,029,099.63
---------------
44
---------------
In foreclosure 27,921.55
---------------
1
---------------
(9) Aggregate Scheduled Principal
Balance and number of replaced
Mortgage Loans:
0.00
---------------
(10) Unpaid Net Simple Interest
Shortfall:
Class A1 00000XXX0 0.00
------------- ---------------
Class A2 00000XXX0 0.00
------------- ---------------
Class A3 00000XXX0 0.00
------------- ---------------
Class A4 00000XXX0 0.00
------------- ---------------
Class A5 00000XXX0 0.00
------------- ---------------
Class A6 00000XXX0 0.00
------------- ---------------
(11) Class Certificate Interest
Rate:
Class A4 00000XXX0 189,815.63 7.65%
------------- --------------- ---------------
Class A5 00000XXX0 92,798.75 7.94%
------------- --------------- ---------------
Class A6 00000XXX0 122,701.01 8.00%
------------- --------------- ---------------
Class S 36196HE2S 131,365.70 1.10%
------------- --------------- ---------------
(12) Maximum Amount: 12,980,108.00
---------------
(13) Amount Available: 12,344,046.18
---------------
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
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Name: Xxxxxx X. Xxxxxxx
Title: Vice President of Financial Information
