GE CAPITAL MORTGAGE SERVICES, INC.
SERVICER'S CERTIFICATE
DECEMBER 1996
REMIC Multi-Class Pass-Through Certificates
Series 1994-1
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1994
(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:
(a) Principal ...................$ 746,619.77
(b) Interest ....................$ 4,113,660.97
(c) Total .......................$ 4,860,280.74
2. Aggregate Monthly Payments Received and Monthly
Advances made this month:
(a) Principal ...................$ 746,619.77
(b) Interest ....................$ 3,969,053.31
(c) Total .......................$ 4,715,673.08
3. Aggregate Principal Prepayments in part received
and applied in prior month: ...........................$ 252,883.72
4. Aggregate Principal Prepayments in full received
in prior month:
(a) Principal ...................$ 3,538,183.89
(b) Interest ....................$ 14,223.77
(c) Total .......................$ 3,552,407.66
5. Aggregate Insurance Proceeds (including 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 and Modified
Mortgage Loans:
(a) Principal ...................$ 0.00
(b) Interest ....................$ 0.00
(c) Total .......................$ 0.00
8. Aggregate Purchase Prices ( and substitution adjustments)
for Defective Mortgage Loans:
(a) Principal ...................$ 0.00
(b) Interest ....................$ 0.00
(c) Total .......................$ 0.00
9. Pool Scheduled Principal Balance: ......................$ 680,310,274.77
10. Available Funds: .......................................$ 8,520,964.46
11. Realized Losses for prior month: ........................$ 0.00
12. Aggregate Realized Losses and Debt Service
Reductions:
(a) Deficient Valuations: .........................$ 0.00
(b) Bankruptcy Losses: ............................$ 0.00
(c) Special Hazard Losses: ........................$ 0.00
(d) Fraud Losses: .................................$ 0.00
(e) Excess Bankruptcy Losses: .....................$ 0.00
(f) Excess Special Hazard Losses: .................$ 0.00
(g) Excess Fraud Losses: ..........................$ 0.00
(h) Debt Service Reductions: .....................$ 0.00
13. Accrued Certificate Interest, Unpaid Class Interest
Shortfalls and Pay-out Rate:
Class 1-A1....... $ 507,174.58 $ 0.00 5.68913984%
Class 1-A2....... $ 323,287.77 $ 0.00 6.48761556%
Class 1-A3....... $ 50,123.87 $ 0.00 6.48761639%
Class 1-A4....... $ 228,214.96 $ 0.00 6.48761554%
Class 1-A5....... $ 275,457.69 $ 0.00 6.48761555%
Class 1-A6....... $ 829,009.15 $ 0.00 6.48761563%
Class 1-A7....... $ 250,658.77 $ 0.00 6.48761562%
Class 1-A8....... $ 641,198.07 $ 0.00 6.48761548%
Class 1-A9....... $ 134,055.77 $ 0.00 6.48761591%
Class 1-A10...... $ 11,661.49 $ 0.00 6.48761613%
Class 1-A11...... $ 130,811.78 $ 0.00 6.48761541%
Class 1-A12...... $ 71,182.40 $ 0.00 6.48761587%
Class 1-M........ $ 93,938.34 $ 0.00 6.48761598%
Class 1-B1....... $ 73,063.15 $ 0.00 6.48761575%
Class 1-B2....... $ 41,750.37 $ 0.00 6.48761527%
Class 1-B3....... $ 18,787.67 $ 0.00 6.48761594%
Class 1-B4....... $ 6,262.54 $ 0.00 6.48759858%
Class 1-B5....... $ 15,886.88 $ 0.00 6.48761227%
Class 1-S........ $ 280,751.83 $ 0.00 0.49193721%
Class 1-R........ $ 0.00 $ 0.00 0.00000000%
Class 1-RL....... $ 0.00 $ 0.00 0.00000000%
14. Accrual Amount................... 130,811.78
15 Principal distributable:
Class 1-A1.... $ 3,234,403.93 Class 1-A11... $ 0.00
Class 1-A2.... $ 636,403.04 Class 1-M..... $ 18,942.81
Class 1-A3.... $ 0.00 Class 1-B1.... $ 14,733.29
Class 1-A4.... $ 385,558.28 Class 1-B2.... $ 8,419.03
Class 1-A5.... $ 202,514.64 Class 1-B3.... $ 3,788.56
Class 1-A6.... $ 0.00 Class 1-B4.... $ 1,262.85
Class 1-A7.... $ 159,269.11 Class 1-B5.... $ 3,203.62
Class 1-A8.... $ 0.00 Class 1-R..... $ 0.00
Class 1-A9.... $ 0.00 Class 1-RL.... $ 0.00
Class 1-A10... $ 0.00
16. Additional distributions to the Class 1-R Certificate
pursuant to Section 4.01(b): ...........................$ 0.00
17. Additional distributions to the Class 1-RL Certificate
pursuant to Section 2.05(d): ...........................$ 0.00
17. Certificate Interest Rate of Class 1-S Certificates....... 0.4926%
B. Other Amounts:
1. Senior Percentage for such Distribution Date: ........... 93.256252%
2. Senior Prepayment Percentage for such Distribution Date . 100.000000%
3. Junior Percentage for such Distribution Date: ........... 6.743748%
4. Junior Prepayment Percentage for such Distribution Date: 0.000000%
5. Subordinate Certificate Writedown Amount for such
Distribution Date: .....................................$ 0.00
6. Prepayment Distribution Triggers satisfied:
YES NO
Class 1-B1....... X
Class 1-B2....... X
Class 1-B3....... X
Class 1-B4....... X
Class 1-B5....... X
Capitalized terms used in this Certificate shall have the same meanings as
in the Agreement.
GE CAPITAL MORTGAGE SERVICES, INC.
By:
--------------------------------
Xxxxx Xxxxxxx
Vice-President,
Investor Operations
GE CAPITAL MORTGAGE SERVICES, INC.
MONTHLY STATEMENT
DECEMBER 1996
REMIC Multi-Class Pass-Through Certificates
Series 1994-1
Pursuant to the Pooling and Servicing Agreement dated as of January 1, 1994
(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:
(a) The amounts below are for a Single Certificate of $1,000.
i) The amount of such distribution allocable to principal:
Class 1-A1.... $ 17.14045538 Class 1-A11... $ 0.00000000
Class 1-A2.... $ 8.25832499 Class 1-M..... $ 1.05334929
Class 1-A3.... $ 0.00000000 Class 1-B1.... $ 1.05334882
Class 1-A4.... $ 7.62500307 Class 1-B2.... $ 1.05334968
Class 1-A5.... $ 3.65959449 Class 1-B3.... $ 1.05334861
Class 1-A6.... $ 0.00000000 Class 1-B4.... $ 1.05334583
Class 1-A7.... $ 3.16085397 Class 1-B5.... $ 1.00179585
Class 1-A8.... $ 0.00000000 Class 1-R..... $ 0.00000000
Class 1-A9.... $ 0.00000000 Class 1-RL.... $ 0.00000000
Class 1-A10... $ 0.00000000
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 1-A1.... 14.48088745 Class 1-A11... 0.00000000
Class 1-A2.... 6.97693684 Class 1-M..... 0.00000000
Class 1-A4.... 0.00000000 Class 1-B1.... 0.00000000
Class 1-A3.... 6.44188318 Class 1-B2.... 0.00000000
Class 1-A5.... 3.09176009 Class 1-B3.... 0.00000000
Class 1-A6.... 0.00000000 Class 1-B4.... 0.00000000
Class 1-A7.... 2.67040575 Class 1-B5.... 0.00000000
Class 1-A8.... 0.00000000 Class 1-R..... 0.00000000
Class 1-A9.... 0.00000000 Class 1-RL.... 0.00000000
Class 1-A10... 0.00000000
ii) The amount of such distribution to the Certificateholders
of each class, allocable to Interest:
Class 1-A1.... 2.68772962 Class 1-A12... 3.06495495
Class 1-A2.... 4.19516454 Class 1-M..... 5.22361168
Class 1-A3.... 4.90736930 Class 1-B1.... 5.22361148
Class 1-A4.... 4.51329892 Class 1-B2.... 5.22361111
Class 1-A5.... 4.97773122 Class 1-B3.... 5.22361165
Class 1-A6.... 5.40634635 Class 1-B4.... 5.22359775
Class 1-A7.... 4.97457272 Class 1-B5.... 4.96794577
Class 1-A8.... 5.40634624 Class 1-S..... 0.35126357
Class 1-A9.... 5.40634659 Class 1-R..... 0.00000000
Class 1-A10... 5.40634678 Class 1-RL.... 0.00000000
Class 1-A11... 6.49415579
iii) The amount of servicing compensation received by GECMSI
during the month preceding the month of distribution...... 0.18243384
(b) The amounts below are for the aggregate of all Certificates.
iv) 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 .....$ 680,310,274.77
The aggregate number of loans included in the Pool Scheduled
Principal Balances ......................................... 2,456
v) The Class Certificate Principal Balance of each Class and the
Certificate Principal Balance of a Single Certificate of each Class
after giving effect to all distributions allocable to principal
made on such Distribution Date and the allocation of any Realized
Losses and any Subordinate Writedown Certificate Amount for such
Distribution Date:
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 1-A1...............................$ 103,743,014.94 549.78
Class 1-A2...............................$ 59,161,425.71 767.71
Class 1-A3...............................$ 9,271,300.95 907.71
Class 1-A4...............................$ 41,826,861.73 827.19
Class 1-A5...............................$ 50,748,289.31 917.06
Class 1-A6...............................$ 153,340,000.00 1,000.00
Class 1-A7...............................$ 46,204,532.55 916.97
Class 1-A8...............................$ 118,601,000.00 1,000.00
Class 1-A9...............................$ 24,796,000.00 1,000.00
Class 1-A10..............................$ 2,157,000.00 1,000.00
Class 1-A11..............................$ 24,326,779.96 1,207.70
Class 1-A12..............................$ 12,768,371.07 549.78
Class Certificate Single
Principal Balance Certificate Balance
----------------- -------------------
Class 1-M................................$ 17,356,624.47 965.15
Class 1-B1...............................$ 13,499,596.69 965.15
Class 1-B2...............................$ 7,714,055.55 965.15
Class 1-B3...............................$ 3,471,325.29 965.15
Class 1-B4...............................$ 1,157,108.45 965.15
Class 1-B5...............................$ 2,935,359.17 917.91
Class 1-S................................$ 680,310,274.77 851.17
Class 1-R................................$ 0.00 0.00
Class 1-RL...............................$ 0.00 0.00
vi) The Pay-out Rate applicable to each class of Certificates:
Class 1-A1.... 5.68913984% Class 1-A12... 6.48761587%
Class 1-A2.... 6.48761556% Class 1-M..... 6.48761598%
Class 1-A3.... 6.48761639% Class 1-B1.... 6.48761575%
Class 1-A4.... 6.48761554% Class 1-B2.... 6.48761527%
Class 1-A5.... 6.48761555% Class 1-B3.... 6.48761594%
Class 1-A6.... 6.48761563% Class 1-B4.... 6.48759858%
Class 1-A7.... 6.48761562% Class 1-B5.... 6.48761227%
Class 1-A8.... 6.48761548% Class 1-S..... 0.49193721%
Class 1-A9.... 6.48761591% Class 1-R..... 0.00000000%
Class 1-A10... 6.48761613% Class 1-RL.... 0.00000000%
Class 1-A11... 6.48761541%
vii) 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............................................$ 791,943.35
unpaid principal balance..............................$ 683,749.42
number of related mortgage loans...................... 3
viii) 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 2 Principal Balance $ 6,997,551.95
(2) 60-89 days
Number 4 Principal Balance $ 826,675.34
(3) 90 days or more
Number 2 Principal Balance $ 451,895.10
(b) in foreclosure
Number 9 Principal Balance $ 2,764,555.08
E-609
ix) 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
x) Certificate Interest Rate of the Class 1-S Certificates Applicable
to the Interest Accrual Period for such Distribution Date;....... 0.4926%
xi) The Senior Percentage for such Distribution Date; ................. 93.256252%
The Junior Percentage for such Distribution Date; ................ 6.743748%
xii) The Senior Prepayment Percentage for such Distribution Date; ...... 100.000000%
The Junior Prepayment Percentage for such Distribution Date; ..... 0.000000%
