Exhibit 99.18
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
February 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 $1,000:
i) The amount of such distribution allocable to principal:
Class 7-A1....$ 51.89491332 Class 7-A11....$ 0.00000000
Class 7-A2....$ 51.89491382 Class 7-A12....$ 0.00000000
Class 7-A3....$ 51.89494794 Class 7-PO.....$ 24.57464351
Class 7-A4....$ 35.11858190 Class 7-M......$ 0.68803142
Class 7-A5....$ 32.68305661 Class 7-B1.....$ 0.68803237
Class 7-A6....$ 0.00000000 Class 7-B2.....$ 0.68802965
Class 7-A7....$ 10.55475120 Class 7-B3.....$ 0.68802952
Class 7-A8....$ 0.00000000 Class 7-B4.....$ 0.68803070
Class 7-A9....$ 0.00000000 Class 7-B5.....$ 0.68803647
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....$ 50.93803796 Class 7-A8.....$ 0.00000000
Class 7-A2....$ 50.93803845 Class 7-A9.....$ 0.00000000
Class 7-A3....$ 50.93807194 Class 7-10.....$ 0.00000000
Class 7-A4....$ 34.47104048 Class 7-11.....$ 0.00000000
Class 7-A5....$ 32.08042314 Class 7-12.....$ 0.00000000
Class 7-A6....$ 0.00000000 Class 7-PO.....$ 24.12151873
Class 7-A7....$ 10.36013518 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....$ 6.50142915 Class 7-M.....$ 6.22471520
Class 7-A2....$ 5.20114377 Class 7-B1....$ 6.22471139
Class 7-A3....$ 5.16502782 Class 7-B2....$ 6.22471638
Class 7-A4....$ 5.40252500 Class 7-B3....$ 6.22471139
Class 7-A5....$ 6.10765070 Class 7-B4....$ 6.22469160
Class 7-A6....$ 5.93749977 Class 7-B5....$ 6.22471352
Class 7-A7....$ 5.86271292 Class 7-R.....$ 0.00000000
Class 7-A8....$ 6.25000000 Class 7-S.....$ 0.32967878
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........... $ 44,118.86
v) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:........$ 0.19847987
(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:..........$ 309,311,274.42
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:.................... 1,106
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........ $ 25,706,239.92 $ 814.96
Class 7-A2........ $ 4,624,259.20 $ 814.96
Class 7-A3........ $ 122,219,080.92 $ 814.96
Class 7-A4........ $ 14,669,710.20 $ 874.78
Class 7-A5........ $ 31,233,784.03 $ 883.46
Class 7-A6........ $ 12,029,747.00 $ 1,000.00
Class 7-A7........ $ 3,876,863.40 $ 927.48
Class 7-A8........ $ 2,760,000.00 $ 1,000.00
Class 7-A9........ $ 7,103,136.60 $ 1,044.58
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....... $ 273,426.17 $ 969.66
Class 7-M......... $ 5,228,832.79 $ 995.27
Class 7-B1........ $ 3,485,888.52 $ 995.27
Class 7-B2........ $ 2,614,415.91 $ 995.27
Class 7-B3........ $ 1,742,944.27 $ 995.27
Class 7-B4........ $ 522,882.38 $ 995.27
Class 7-B5........ $ 1,220,063.11 $ 995.27
Class 7-S......... $ 296,670,905.85 $ 880.54
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
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 10 Principal Balance $ 2,353,318.24
(2) 60-89 days
Number 3 Principal Balance $ 859,933.16
(3) 90 days or more
Number 0 Principal Balance $ 0.00
(b) in foreclosure
Number 1 Principal Balance $ 224,462.87
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: ... 95.374400%
The Junior Percentage for such Distribution Date: ... 4.625600%
xii) The Senior Prepayment Percentage for such Distribution
Date:................................................ 100.000000%
The Junior Prepayment Percentage for such Distribution
Date: ............................................... 0.000000%
