GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT 99.47 Home Equity Loan Pass-Through Certificates, Series 1996-HE2 SERVICER'S CERTIFICATE SEPTEMBER, 1996 Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1996 (the "Agreement") between GE...
GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT 99.47
Home Equity Loan Pass-Through Certificates,
Series 1996-HE2
SERVICER'S CERTIFICATE
SEPTEMBER, 1996
Pursuant to the Pooling and Servicing Agreement dated as of June 1, 1996
(the "Agreement") between GE Capital Mortgage Services, Inc. (the "Company"),
and The First National Bank of Chicago (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 Monthly Payments Due: 1,355,062.06
---------------
(2) Aggregate Monthly Payments
received and Monthly Advances
made this Month:
(a) Principal 239,719.87
---------------
(b) Interest 1,139,568.25
---------------
(c) Total 1,379,288.12
---------------
(3) Aggregate Principal
Prepayments in part received
on Self- Amortizing Mortgage
Loans and applied in the
applicable Prepayment Period:
(a) Principal 18,226.55
---------------
(c) Total 18,226.55
---------------
(4) Aggregate Principal
Prepayments in full received
in the applicable Prepayment
period:
(a) Principal 210,363.19
---------------
(b) Interest 1,578.25
---------------
(c) Total 211,941.44
---------------
(5) Aggregate Insurance Proceeds
(inculding purchases of
Mortgage Loans by primary
mortgage insurers) for prior
month:
(a) Principal 0.00
---------------
(b) Interest 0.00
---------------
(c) Total 0.00
---------------
(6) Aggregate Liquidation Proceeds
for prior month:
(a) Principal 0.00
---------------
(b) Interest 0.00
---------------
(c) Total 0.00
---------------
(7) Aggregate Purchase Prices for
Defaulted Mortgage Loans:
(a) Principal 0.00
---------------
(b) Interest 0.00
---------------
(c) Total 0.00
---------------
(8) Aggregate Purchase Prices for
(and substitution adjustments)
for Defective Mortgage Loans:
(a) Principal 0.00
---------------
(b) Interest 0.00
---------------
(c) Total 0.00
---------------
(9) Aggregate Purchase Prices for
for Liquidating Loans:
(a) Principal 0.00
---------------
(b) Interest 0.00
---------------
(c) Total 0.00
---------------
(10) Aggregate Purchase Prices for
for Document Deficiencies per
Sec. 2.02
(a) Principal 0.00
---------------
(b) Interest 0.00
---------------
(c) Total 0.00
---------------
(11) Pool Principal Balance 151,183,839.80
---------------
(12) Available Funds: 1,543,174.68
---------------
(13) Realized Losses for
prior month: 0.00
---------------
(14) Aggregate Realized
Losses: 0.00
---------------
(15) Compensating Interest
Payment: 289.69
---------------
(16) Net Simple Interest
Shortfall: 0.00
---------------
(17) Net Simple Interest
Excess: 0.00
---------------
(18) Simple Interest Shortfall
Payment: 0.00
---------------
(19) Unpaid Net Simple Interest
Shortfall:
Class A1 00000XXX0 0.00
------------- ---------------
Class A2 00000XXX0 0.00
------------- ---------------
Class A3 00000XXX0 0.00
------------- ---------------
Class A4 00000XXX0 0.00
------------- ---------------
Class A5 00000XXX0 0.00
------------- ---------------
Class A6 00000XXX0 0.00
------------- ---------------
(20) Class Certificate Interest
Rate:
Class A4 7.65%
---------------
Class A5 7.94%
---------------
Class A6 8.00%
---------------
Class 1S 1.15%
---------------
(21) Maximum Amount: 12,980,108.00
---------------
(22) Amount Available: 12,980,108.00
---------------
(23) Accrued Certificate Interest
and Pay-out Rate:
Class A1 00000XXX0 252,302.45
------------- ---------------
Class A2 00000XXX0 67,006.25
------------- ---------------
Class A3 00000XXX0 205,464.58
------------- ---------------
Class A4 00000XXX0 189,815.63
------------- ---------------
Class A5 00000XXX0 92,798.75
------------- ---------------
Class A6 00000XXX0 122,701.01
------------- ---------------
Class 1S 36196HE2S 144,776.40
------------- ---------------
Total 1,074,865.07
(24) Principal distributable:
Class A1 00000XXX0 468,309.61
------------- ---------------
Class A2 00000XXX0 0.00
------------- ---------------
Class A3 00000XXX0 0.00
------------- ---------------
Class A4 00000XXX0 0.00
------------- ---------------
Class A5 00000XXX0 0.00
------------- ---------------
Class A6 00000XXX0 0.00
------------- ---------------
Class R1 00000XXX0 0.00
------------- ---------------
Class R2 00000XXX0 0.00
------------- ---------------
Total 468,309.61
---------------
(25) Additional distributions to
the Class R1 Certificate
pursuant to Section 2.05 (d) : 0.00
---------------
(26) Additional distributions to
the Class R2 Certificate
pursuant to Section 4.01 (b) : 0.00
---------------
Capitalized terms used in this Certificate shall have the same meanings as in
the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By:/S/Xxxxxx X. Xxxxxxx
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Name: Xxxxxx X. Xxxxxxx
Title: Vice President
