Exhibit 99.17
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
MARCH 1997
REMIC Multi-Class Pass-Through Certificates
Series 1996-8
Pursuant to the Pooling and Servicing Agreement dated as of May 1, 1996
(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. Mortgage Loan Information:
1. Aggregate Scheduled Monthly Payments:
Pool 1 Pool 2
------ ------
(a) Principal .................... $ 265,908.06 $ 96,236.62
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(b) Interest ..................... $ 2,183,518.00 $ 819,267.46
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(c) Total ........................ $ 2,449,426.06 $ 915,504.08
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2. Aggregate Monthly Payments Received and Monthly
Advances made this month:
(a) Principal .................... $ 265,908.06 $ 96,236.62
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(b) Interest ..................... $ 2,123,627.56 $ 793,296.14
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(c) Total ........................ $ 2,389,535.62 $ 889,532.76
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3. Aggregate Partial Principal Prepayment received
and appiled in prior month: $ 93,933.07 $ 16,095.42
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4. Aggregate Principal Prepayments in full in prior
month:
Pool 1 Pool 2
------ ------
(a) Principal .................... $ 953,985.86 $ 0.00
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(b) Interest ..................... $ 4,491.17 $ 0.00
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(c) Total ........................ $ 958,477.03 $ 0.00
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5. Aggregate Insurance Proceeds for prior month:
(a) Principal .................... $ 0.00 $ 0.00
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(b) Interest ..................... $ 0.00 $ 0.00
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(c) Total ........................ $ 0.00 $ 0.00
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6. Aggregate Liquidation Proceeds for the prior
month:
(a) Principal .................... $ 0.00 $ 0.00
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(b) Interest ..................... $ 0.00 $ 0.00
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(c) Total ........................ $ 0.00 $ 0.00
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7. Aggregate Purchase Prices for Defaulted and
Modified Mortgage Loans:
(a) Principal .................... $ 0.00 $ 0.00
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(b) Interest ..................... $ 0.00 $ 0.00
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(c) Total ........................ $ 0.00 $ 0.00
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8. Aggregate Purchase Prices (and subsitution
adjustments) for Defective Mortgage Loans:
(a) Principal .................... $ 0.00 $ 0.00
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(b) Interest ..................... $ 0.00 $ 0.00
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(c) Total ........................ $ 0.00 $ 0.00
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9. Pool Scheduled Principal
Balance .......................... $335,101,931.34 $124,747,620.59
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10. Available Funds: ................. $ 3,441,945.72 $ 905,628.18
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11. Realized Losses for Prior Month: . $ 0.00 $ 0.00
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12. Aggregrate Realized Losses and Debt Service
Reductions:
Pool 1 Pool 2
------ ------
(a) Deficient Valuations ......... $ 0.00 $ 0.00
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(b) Special Hazard Losses ........ $ 0.00 $ 0.00
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(c) Fraud Losses ................. $ 0.00 $ 0.00
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(d) Excess Bankruptcy Loss ....... $ 0.00 $ 0.00
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(e) Excess Special Hazard Losses . $ 0.00 $ 0.00
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(f) Excess Fraud Losses .......... $ 0.00 $ 0.00
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(g) Debt Service Reductions ...... $ 0.00 $ 0.00
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13. Compensating Interest Payment: ... $ 2,411.08 $ 98.01
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14. Accrued Certificate Interest, unpaid Class
Interest Shortfalls and Pay-out Rate:
Class 1-A1 ............... $ 213,837.69 $ 0.00 $ 7.25000000%
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Class 1-A2 ............... $ 936,941.12 $ 0.00 $ 7.25000000%
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Class 1-A3 ............... $ 34,105.21 $ 0.00 $ 7.25000000%
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Class 1-A4 ............... $ 223,541.67 $ 0.00 $ 7.25000000%
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Class 1-A5 ............... $ 265,791.04 $ 0.00 $ 7.25000000%
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Class 1-A6 ............... $ 152,834.00 $ 0.00 $ 7.25000000%
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Class 1-A7 ............... $ 77,179.13 $ 0.00 $ 7.25000000%
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Class 1-S ................ $ 108,349.16 $ 0.00 $ 0.47095784%
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Class 1-M ................ $ 42,014.47 $ 0.00 $ 7.25000000%
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Class 1-B1 ............... $ 26,259.05 $ 0.00 $ 7.25000000%
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Class 1-B2 ............... $ 21,007.24 $ 0.00 $ 7.25000000%
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Class 1-B3 ............... $ 11,553.98 $ 0.00 $ 7.25000000%
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Class 1-B4 ............... $ 6,302.17 $ 0.00 $ 7.25000000%
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Class 1-B5 ............... $ 8,402.90 $ 0.00 $ 7.25000000%
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Class 2-A1 ............... $ 335,846.74 $ 0.00 $ 7.25000000%
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Class 2-A2 ............... $ 29,743.75 $ 0.00 $ 7.50000000%
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Class 2-A3 ............... $ 72,269.90 $ 0.00 $ 7.00000000%
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Class 2-A4 ............... $ 140,582.30 $ 0.00 $ 5.32177024%
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Class 2-A5 ............... $ 83,069.35 $ 0.00 $ 7.50000000%
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Class 2-M ................ $ 16,210.36 $ 0.00 $ 7.50000000%
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Class 2-B1 ............... $ 10,131.47 $ 0.00 $ 7.50000000%
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Class 2-B2 ............... $ 8,105.18 $ 0.00 $ 7.50000000%
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Class 2-B3 ............... $ 4,457.85 $ 0.00 $ 7.50000000%
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Class 2-B4 ............... $ 2,431.55 $ 0.00 $ 7.50000000%
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Class 2-B5 ............... $ 3,242.08 $ 0.00 $ 7.50000000%
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Class 2-R ................ $ 0.00 $ 0.00 $ 7.50000000%
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Class 2-RL ............... $ 0.00 $ 0.00 $ 7.50000000%
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15. Accrual Amount Class 2-A4 ........................ $ 87,205.46
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16. Principal Distribution Amount:
Class 1-A1 .... $ 264,928.69 Class 2-A1 .... $ 85,219.33
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Class 1-A2 .... $ 1,001,128.00 Class 2-A2 .... $ 0.00
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Class 1-A3 .... $ 0.00 Class 2-A3 .... $ 87,205.46
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Class 1-A4 .... $ 0.00 Class 2-A4 .... $ 11,397.63
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Class 1-A5 .... $ 0.00 Class 2-A5 .... $ 10,226.90
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Class 1-A6 .... $ 19,970.76 Class 2-M ..... $ 1,995.70
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Class 1-A7 .... $ 10,084.97 Class 2-B1 .... $ 1,247.31
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Class 1-PO .... $ 2,617.03 Class 2-B2 .... $ 997.85
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Class 1-M ..... $ 5,490.01 Class 2-B3 .... $ 548.82
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Class 1-B1 .... $ 3,431.26 Class 2-B4 .... $ 299.35
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Class 1-B2 .... $ 2,745.01 Class 2-B5 .... $ 399.15
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Class 1-B3 .... $ 1,509.75 Class 2-R ..... $ 0.00
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Class 1-B4 .... $ 823.50 Class 2-RL .... $ 0.00
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Class 1-B5 .... $ 1,098.01
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17. Additional Distributions to the Class R
Certificate ...................................... $ 0.00
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18. Additional Distributions to the Class RL
Certificate ...................................... $ 0
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19. Certificate Interest Rate of:
Class 1-S ........................................ 0.4709578354189
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Class 2-A4 ....................................... 0.3305959380238
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B. Other Amounts for such Distribution Date:
Pool 1 Pool 2
------ ------
1. Senior Percentage: ................ 94.27955500% 94.20961300%
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2. Group I Senior Percentage: ........ 82.89146800% 83.41957400%
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3. Group II Senior Percentage: ....... 11.38808700% 10.79003900%
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4. Senior Prepayment Percentage: ..... 100.00000000% 100.00000000%
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5. Group I Senior Prepayment Percent . 100.00000000% 100.00000000%
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6. Group II Senior Prepayment Percent 0.00000000% 0.00000000%
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7. Junior Percentage: ................ 5.72044500% 5.79038700%
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8. Junior Prepayment Percentage: ..... 0.00000000% 0.00000000%
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9. Subordinate Certificate Writedown: 0.00 0.00
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10. Class 2-A5 Writedown: ............................ 0.00
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11. Prepayment Triggers satisfied:
YES NO
--- --
Class 1-B1 ............ X
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Class 1-B2 ............ X
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Class 1-B3 ............ X
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Class 1-B4 ............ X
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Class 1-B5 ........... X
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Class 2-B1 ............ X
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Class 2-B2 ............ X
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Class 2-B3 ............ X
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Class 2-B4 ............ X
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Class 2-B5 ............ X
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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/ Xxxxx Xxxxxxx
-----------------------------------
Xxxxx Xxxxxxx
Vice-President,
Investor Operations
