GE CAPITAL MORTGAGE SERVICES, INC. SERVICER'S CERTIFICATE August, 1998 Series 1998-09, REMIC Multi-Class Pass-Through Certificates
Exhibit 99.23
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
August, 1998
Series 1998-09, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of May 1, 1998 (the
"Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (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:
(a) Principal $ 593,158.26
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(b) Interest $ 4,528,159.75
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(c) Total $ 5,121,318.01
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2. Aggregate scheduled Monthly Payments received this month:
(a) Principal $ 564,276.32
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(b) Interest $ 4,306,819.39
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(c) Total $ 4,871,095.71
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3. Aggregate Monthly Advances this month:
(a) Principal $ 28,881.94
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(b) Interest $ 221,340.36
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(c) Total $ 250,222.30
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4. Aggregate Principal Prepayments in part received in the applicable
Prepayment Period:
(a) Principal $ 370,910.15
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5. Aggregate Principal Prepayments in full received in the applicable
Prepayment Period:
(a) Principal $ 5,364,002.15
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(b) Interest $ 32,983.94
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(c) Total $ 5,396,986.09
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6. Aggregate Insurance Proceeds received:
(a) Principal $ 0.00
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(b) Interest $ 0.00
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(c) Total $ 0.00
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7. Aggregate Liquidation Proceeds received:
(a) Principal $ 0.00
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(b) Interest $ 0.00
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(c) Total $ 0.00
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8. Aggregate Deficient Valuations with respect to the Mortgage
Loans during the prior month: $ 0.00
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9. Aggregate Debt Service Reductions with respect to the Mortgage Loans
during the prior month: $ 0.00
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10. Aggregate Purchase Prices for Defaulted Mortgage Loans:
(a) Principal $ 0.00
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(b) Interest $ 0.00
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(c) Total $ 0.00
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11. Aggregate Purchase Prices for Defective Mortgage Loans:
(a) Principal $ 0.00
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(b) Interest $ 0.00
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(c) Total $ 0.00
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12. Pool Scheduled Principal Balance: $ 734,562,673.95
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13. Available Funds: $ 10,490,997.35
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14. Realized Losses for prior month: $ 0.00
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15. Aggregate Realized Losses
(a) Aggregate Realized Losses: $ 0.00
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(b) Deficient Valuations: $ 0.00
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(c) Debt Service Reductions: $ 0.00
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(d) Bankruptcy Losses: $ 0.00
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(e) Special Hazard Losses: $ 0.00
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(f) Fraud Losses: $ 0.00
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(g) Excess Bankruptcy Losses: $ 0.00
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(h) Excess Special Hazard Losses: $ 0.00
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(i) Excess Fraud Losses: $ 0.00
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16. Non-Credit Losses: $ 0.00
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17. Compensating Interest Payment: $ 8,129.97
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18. Total interest payments: $ 4,162,926.80
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19. Interest
Accrued Unpaid Class
Certificate Interest Interest
Class Interest Shortfalls Payable Pay-out Rate
----- -------- ---------- ------- ------------
R $ 0.00 $ 0.00 $ 0.00 % 0.000000000
PO $ 0.00 $ 0.00 $ 0.00 % 0.000000000
A1 $ 264,722.72 $ 0.00 $ 264,722.72 % 6.500000102
A2 $ 295,959.73 $ 0.00 $ 295,959.73 % 6.499999927
A3 $ 1,173,865.34 $ 0.00 $ 1,173,865.34 % 6.999999980
A4 $ 0.00 $ 0.00 $ 0.00 % 0.000000000
A5 $ 76,539.86 $ 0.00 $ 0.00 % 6.750000269
A6 $ 78,654.04 $ 0.00 $ 78,654.04 % 6.699999879
A7 $ 29,085.00 $ 0.00 $ 29,085.00 % 7.000000000
A8 $ 287,859.38 $ 0.00 $ 287,859.38 % 6.750000117
A10 $ 902,861.07 $ 0.00 $ 902,861.07 % 6.750000020
A11 $ 113,917.50 $ 0.00 $ 113,917.50 % 6.750000000
A12 $ 128,700.00 $ 0.00 $ 128,700.00 % 6.750000000
A13 $ 130,481.72 $ 0.00 $ 130,481.72 % 6.750000065
A14 $ 29,166.67 $ 0.00 $ 29,166.67 % 7.000000800
A15 $ 178,750.00 $ 0.00 $ 178,750.00 % 6.500000000
A9 $ 28,439.71 $ 0.00 $ 28,439.71 % 6.750000593
A16 $ 21,130.94 $ 0.00 $ 21,130.94 % 6.942857589
A17 $ 125,966.81 $ 0.00 $ 125,966.81 % 6.749999866
A18 $ 55,575.00 $ 0.00 $ 55,575.00 % 6.750000000
A19 $ 72,406.40 $ 0.00 $ 72,406.40 % 6.750000466
RL $ 0.00 $ 0.00 $ 0.00 % 0.000000000
M $ 78,090.08 $ 0.00 $ 78,090.08 % 6.750000009
B1 $ 33,768.83 $ 0.00 $ 33,768.83 % 6.749999006
B2 $ 18,993.21 $ 0.00 $ 18,993.21 % 6.749998334
B3 $ 16,887.23 $ 0.00 $ 16,887.23 % 6.750001826
B4 $ 8,440.80 $ 0.00 $ 8,440.80 % 6.749996206
B5 $ 12,664.75 $ 0.00 $ 12,664.75 % 6.749999913
20. Principal Distribution Amount: $ 6,328,070.55
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21. Principal Distribution Amount per Certificate:
Principal Distribution Accrual Amount
---------------------- --------------
Class R $ 0.00 $ 0.00
Class PO $ 999.57 $ 0.00
Class A1 $ 0.00 $ 0.00
Class A2 $ 0.00 $ 0.00
Class A3 $ 1,176,617.30 $ 0.00
Class A4 $ 43,578.42 $ 0.00
Class A5 $ 3,099,901.60 $ 76,539.86
Class A6 $ 0.00 $ 0.00
Class A7 $ 0.00 $ 0.00
Class A8 $ 0.00 $ 0.00
Class A10 $ 2,059,486.54 $ 0.00
Class A11 $ 0.00 $ 0.00
Class A12 $ 0.00 $ 0.00
Class A13 $ 0.00 $ 0.00
Class A14 $ 0.00 $ 0.00
Class A15 $ 0.00 $ 0.00
Class A9 $ 0.00 $ 0.00
Class A16 $ 0.00 $ 0.00
Class A17 $ 0.00 $ 0.00
Class A18 $ 0.00 $ 0.00
Class A19 $ 0.00 $ 0.00
Class SUP $ 0.00 $ 0.00
Class RL $ 0.00 $ 0.00
Class M $ 11,112.38 $ 0.00
Class B1 $ 4,805.38 $ 0.00
Class B2 $ 2,702.77 $ 0.00
Class B3 $ 2,403.09 $ 0.00
Class B4 $ 1,201.14 $ 0.00
Class B5 $ 1,802.22 $ 0.00
22. Additional distributions to the Class R Certificate pursuant to the
Agreement:
$ 0.00
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23. Additional distributions to the Class RL Certificate pursuant to the
Agreement:
$ 0.01
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24. Subordinate Certificate Writedown Amount: $ 0.00
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Accumulative
Class Supported Shortfall Supported Shortfall
----- ------------------- -------------------
B1 $ 0.00 $ 0.00
B2 $ 0.00 $ 0.00
B3 $ 0.00 $ 0.00
B4 $ 0.00 $ 0.00
B5 $ 0.00 $ 0.00
25. Unanticipated Recoveries: $ 0.00
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26. The Certificate Interest Rate applicable to the Interest Accrual Period
relating to such Distribution Date applicable to any floating index
certificate.
Class Certificate Interest
Rates
Class A6 % 6.69999988
Class A16 % 6.94285759
B. Other Amounts for such Distribution Date:
1. Prepayment Distribution
Triggers satisfied: Yes No
Class-B1 X
Class-B2 X
Class-B3 X
Class-B4 X
Class-B5 X
2. Base Servicing Fee amount: $ 163,622.09
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3. Supplemental Servicing Fee amount: $ 244,764.28
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4. Credit Losses for prior month: $ 0.00
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Category Category Category
A B C
5. Senior Percentage: % 95.944082 N/A N/A N/A
----------- ---- ------ ------
6. Group I Senior Percentage:
% N/A N/A N/A N/A
----------- ---- ------ ------
7. Group II Senior Percentage:
% N/A N/A N/A N/A
----------- ---- ------ ------
8. Senior Prepayment Percentage:
%100.000000 N/A N/A N/A
----------- ---- ------ ------
9. Group I Senior Prepayment
Percentage: % N/A N/A N/A N/A
----------- ---- ------ ------
10. Group II Senior Prepayment
Percentage: % N/A N/A N/A N/A
----------- ---- ------ ------
11. Junior Percentage: % 4.055918
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12. Junior Prepayment Percentage:
% 0.000000
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Capitalized terms used in this Certificate shall have the same meanings as in
the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By: /s/ Xxx Xxxx
-------------------------------
Name: Xxx Xxxx
Title: Vice President,
Investor Operations
