Exhibit 99.18
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
January 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 $1,000:
i) The amount of such distribution allocable to principal:
Class 7-A1....$ 27.82673554 Class 7-A11...$ 0.00000000
Class 7-A2....$ 27.82673505 Class 7-A12...$ 0.00000000
Class 7-A3....$ 27.82675422 Class 7-PO....$ 0.95942393
Class 7-A4....$ 18.83104610 Class 7-M.....$ 0.68865955
Class 7-A5....$ 17.52508510 Class 7-B1....$ 0.68865765
Class 7-A6....$ 0.00000000 Class 7-B2....$ 0.68865778
Class 7-A7....$ 10.48919378 Class 7-B3....$ 0.68865765
Class 7-A8....$ 0.00000000 Class 7-B4....$ 0.68865883
Class 7-A9....$ 0.00000000 Class 7-B5....$ 0.68867276
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....$ 26.84987226 Class 7-A8....$ 0.00000000
Class 7-A2....$ 26.84987178 Class 7-A9....$ 0.00000000
Class 7-A3....$ 26.84989028 Class 7-10....$ 0.00000000
Class 7-A4....$ 18.16997835 Class 7-11....$ 0.00000000
Class 7-A5....$ 16.90986338 Class 7-12....$ 0.00000000
Class 7-A6....$ 0.00000000 Class 7-PO....$ 0.92574316
Class 7-A7....$ 10.12096847 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....$ 6.71012965 Class 7-M.....$ 6.22901883
Class 7-A2....$ 5.36810299 Class 7-B1....$ 6.22901693
Class 7-A3....$ 5.33082887 Class 7-B2....$ 6.22901431
Class 7-A4....$ 5.51433452 Class 7-B3....$ 6.22901122
Class 7-A5....$ 6.22448471 Class 7-B4....$ 6.22899334
Class 7-A6....$ 5.93749977 Class 7-B5....$ 6.22899621
Class 7-A7....$ 5.92827033 Class 7-R.....$ 0.00000000
Class 7-A8....$ 6.25000000 Class 7-S.....$ 0.33657706
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........... $ 43,844.83
v) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:.....$ 0.22842980
(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:.......$ 320,786,842.57
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:................. 1,142
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........ $ 27,343,153.75 $ 866.86
Class 7-A2........ $ 4,918,721.32 $ 866.86
Class 7-A3........ $ 130,001,708.97 $ 866.86
Class 7-A4........ $ 15,258,634.49 $ 909.90
Class 7-A5........ $ 32,389,252.61 $ 916.15
Class 7-A6........ $ 12,029,747.00 $ 1,000.00
Class 7-A7........ $ 3,920,982.26 $ 938.03
Class 7-A8........ $ 2,760,000.00 $ 1,000.00
Class 7-A9........ $ 7,059,017.74 $ 1,038.09
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....... $ 280,355.77 $ 994.23
Class 7-M......... $ 5,232,447.50 $ 995.95
Class 7-B1........ $ 3,488,298.33 $ 995.95
Class 7-B2........ $ 2,616,223.26 $ 995.95
Class 7-B3........ $ 1,744,149.17 $ 995.95
Class 7-B4........ $ 523,243.85 $ 995.95
Class 7-B5........ $ 1,220,906.55 $ 995.95
Class 7-S......... $ 307,536,062.20 $ 912.79
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................... 0.00
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 $ 1,560,516.54
(2) 60-89 days
Number 3 Principal Balance $ 709,545.74
(3) 90 days or more
Number 0 Principal Balance $ 0.00
(b) in foreclosure
Number 0 Principal Balance $ 0.00
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: .......... 95.458400%
The Junior Percentage for such Distribution Date: .......... 4.541600%
xii)The Senior Prepayment Percentage for such Distribution Date:100.000000%
The Junior Prepayment Percentage for such Distribution Date: 0.000000%
