Exhibit 99.45
GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
MARCH 1997
REMIC Multi-Class Pass-Through Certificates
Series 1996-17
Pursuant to the Pooling and Servicing Agreement dated as of December 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 ................... $ 125,631.06 $ 312,445.49
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(b) Interest .................... $ 1,347,486.87 $ 672,353.38
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(c) Total ....................... $ 1,473,117.93 $ 984,798.87
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2. Aggregate Monthly Payments Received and
Monthly Advances made this month:
(a) Principal ................... $ 125,631.06 $ 312,445.49
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(b) Interest .................... $ 1,307,571.77 $ 650,456.03
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(c) Total ....................... $ 1,433,202.83 $ 962,901.52
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3. Aggregate Partial Principal Prepayment
received and appiled in prior month:$ 20,018.90 $ 214,170.22
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4. Aggregate Principal Prepayments in full
in prior month: Pool 1 Pool 2
------ ------
(a) Principal ................... $ 1,308,317.37 $ 0.00
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(b) Interest .................... $ 8,462.76 $ 0.00
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(c) Total ....................... $ 1,316,780.13 $ 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 ......................... $192,507,751.48 $ 99,904,640.22
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10. Available Funds: ................ $ 2,770,001.86 $ 1,177,071.74
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11. Realized Losses for Prior Month: $ 0.00 $ 0.00
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12. Aggregrate Realized Losses Pool 1 Pool 2
and Debt Service Reductions: ------ ------
(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: ... $ 755.44 $1349.78
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14. Accrued Certificate Interest, unpaid
Class Interest Shortfalls and Pay-out
Rate:
Class 1-A1 ............... $ 339,141.12 $ 0.00 $ 7.00000000%
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Class 1-A2 ............... $ 154,034.10 $ 0.00 $ 7.75000000%
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Class 1-A3 ............... $ 195,467.57 $ 0.00 $ 5.97500000%
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Class 1-A4 ............... $ 98,960.57 $ 0.00 $ 3.02500000%
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Class 1-A5 ............... $ 42,525.00 $ 0.00 $ 7.00000000%
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Class 1-A6 ............... $ 105,916.67 $ 0.00 $ 7.75000000%
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Class 1-A7 ............... $ 116,250.00 $ 0.00 $ 7.75000000%
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Class 1-A8 ............... $ 67,973.96 $ 0.00 $ 7.75000000%
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Class 1-A9 ............... $ 64,583.33 $ 0.00 $ 7.75000000%
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Class 1-S ................ $ 63,365.10 $ 0.00 $ 0.39202640%
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Class 1-M ................ $ 19,376.45 $ 0.00 $ 7.75000000%
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Class 1-B1 ............... $ 19,376.45 $ 0.00 $ 7.75000000%
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Class 1-B2 ............... $ 14,209.83 $ 0.00 $ 7.75000000%
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Class 1-B3 ............... $ 5,811.64 $ 0.00 $ 7.75000000%
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Class 1-B4 ............... $ 3,870.13 $ 0.00 $ 7.75000000%
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Class 1-B5 ............... $ 5,172.61 $ 0.00 $ 7.75000000%
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Class 1-R ................ $ 0.00 $ 0.00 $ 7.75000000%
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Class 1-RL ............... $ 0.00 $ 0.00 $ 7.75000000%
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Class 2-A1 ............... $ 59,723.74 $ 0.00 $ 7.25000000%
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Class 2-A2 ............... $ 171,065.17 $ 0.00 $ 7.25000000%
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Class 2-A3 ............... $ 172,991.04 $ 0.00 $ 7.25000000%
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Class 2-A4 ............... $ 133,242.92 $ 0.00 $ 7.25000000%
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Class 2-A5 ............... $ 45,191.65 $ 0.00 $ 7.25000000%
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Class 2-S ................ $ 44,818.90 $ 0.00 $ 0.56969871%
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Class 2-M ................ $ 9,368.63 $ 0.00 $ 7.25000000%
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Class 2-B1 ............... $ 4,684.32 $ 0.00 $ 7.25000000%
--------------- --------------- ---------------
Class 2-B2 ............... $ 3,747.45 $ 0.00 $ 7.25000000%
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Class 2-B3 ............... $ 1,873.73 $ 0.00 $ 7.25000000%
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Class 2-B4 ............... $ 936.86 $ 0.00 $ 7.25000000%
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Class 2-B5 ............... $ 2,811.58 $ 0.00 $ 7.25000000%
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15. Principal Distribution Amount:
Class 1-A1 .... $ 719,898.85 Class 2-A1 .... $ 282,703.64
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Class 1-A2 .... $ 295,327.75 Class 2-A2 .... $ 207,811.24
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Class 1-A3 .... $ 431,939.31 Class 2-A3 .... $ 0.00
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Class 1-A4 .... $ 0.00 Class 2-A4 .... $ 0.00
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Class 1-A5 .... $ 0.00 Class 2-A5 .... $ 23,265.85
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Class 1-A6 .... $ 0.00 Class 2-PO .... $ 776.43
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Class 1-A7 .... $ 0.00 Class 2-M ..... $ 4,823.22
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Class 1-A8 .... $ 0.00 Class 2-B1 .... $ 2,411.61
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Class 1-A9 .... $ 0.00 Class 2-B2 .... $ 1,929.29
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Class 1-M ..... $ 1,943.28 Class 2-B3 .... $ 964.64
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Class 1-B1 .... $ 1,943.28 Class 2-B4 .... $ 482.32
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Class 1-B2 .... $ 1,425.11 Class 2-B5 .... $ 1,447.47
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Class 1-B3 .... $ 582.85
---------------
Class 1-B4 .... $ 388.14
---------------
Class 1-B5 .... $ 518.76
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Class 1-R ..... $ 0.00
---------------
Class 1-RL .... $ 0.00
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16. Additional Distributions to the Class R
Certificate pursuant to Section 4.01
(c): ............................................. $ 0
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17. Additional Distributions to the Class RL
Certificate pursuant to Section 2.05
(d): ............................................. $ 0
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18. Certificate Interest Rate of:
Class 1-A3 ....................................... 5.97500000%
---------------
Class 1-A4 ....................................... 3.02500000%
---------------
Class 1-S ........................................ 0.39202640%
---------------
Class 2-S ........................................ 0.56969871%
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B. Other Amounts for such Distribution Date:
Pool 1 Pool 2
------ ------
1. Senior Percentage: ................ 94.58619300% 96.13257300%
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2. Group I Senior Percentage: ........ 84.00420800% 88.67073600%
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3. Group II Senior Percentage: ....... 10.58198500% 7.46183700%
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4. Senior Prepayment Percentage: ..... 100.00000000% 100.00000000%
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5. Group I Senior Prepayment Percentage: 100.00000000% 100.00000000%
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6. Group II Senior Prepayment Percent: .. 0.00000000% 0.00000000%
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7. Group I Scheduled Distribution
Percentage: ..................... 94.58619300% N/A
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8. Group II Scheduled Distribution
Percentage: ..................... 0.00000000% N/A
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9. Junior Percentage: ................ 5.41380700% 3.86742700%
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10. Junior Prepayment Percentage: .... 0.00000000% 0.00000000%
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11. Subordinate Certificate Writedown: 0.00 0.00
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12. 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
