Exhibit 99.20
GE CAPITAL MORTGAGE SERVICES, INC.
OFFICERS' ANNUAL COMPLIANCE CERTIFICATE - SERIES 1996-HE1
The undersigned, Vice Presidents of GE Capital Mortgage Services, Inc.
(the "Servicer"), pursuant to the Pooling and Servicing Agreement for the Series
1996-HE1 Home Equity Loan Pass-Through Certificates (the "Agreement") entered
into by GE Capital Mortgage Services, Inc., as Seller and Servicer, and The
First National Bank of Chicago, as Trustee, which Agreement requires an annual
statement of compliance to be made to the Trustee by an officer of the Servicer,
hereby state that:
(i) a review of the activities of the Servicer during the
preceding calendar year and of its performance under the
Agreement has been made under the undersigned officers'
supervision; and
(ii) to the best of the undersigned officers' knowledge, based on
such review, (1) the Servicer has fulfilled all of its
material obligations under the Agreement throughout such
year, except as set forth on Exhibit A hereto. and (2) no
Trigger Event has occurred.
Capitalized terms used herein but not defined herein shall have the meaning
given to them in the Agreement.
Dated: March 25, 1997
By: /s/ Xxxxxx X. Xxxxxxx
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Xxxxxx X. Xxxxxxx
Vice President
By: /s/ Xxxxxxx X. Xxxxxx
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Xxxxxxx X. Xxxxxx
Vice President
EXHIBIT A
TO
GE CAPITAL MORTGAGE SERVICES, INC.
OFFICERS' ANNUAL COMPLIANCE CERTIFICATE - SERIES 1996-HE1
FOR YEAR ENDED DECEMBER 31, 1996
Flood Insurance. There may be instances in which mortgage loans in the
Company's servicing portfolio which did not require flood insurance at
origination were subsequently included within special flood hazard areas as
designated by the Federal Emergency Management Agency and flood insurance on
such mortgage loans may not yet be in place. The Company, however, has arranged
for back-up flood insurance coverage in the event of a flood loss relating to a
mortgaged property located in a special flood hazard area. The Company initiated
and is continuing a remapping effort which will identify mortgage loans in its
servicing portfolio which may now be (but which were not at origination)
included in special flood hazard areas. The Company is not aware of any losses
associated with the lack of flood insurance coverage on such mortgage loans.
