Exhibit 99.12
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
December 1997
REMIC Multi-Class Pass-Through Certificates
Series 1997-5
Pursuant to the Pooling and Servicing Agreement dated as of May 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:
(a) The amounts below (other than for Class R) are for a Single Certificate of
$1,000:
i) The amount of such distribution allocable to principal:
Class 5-A1....$ 20.65458059 Class 5-M.....$ 0.70116333
Class 5-A2....$ 0.00000000 Class 5-B1....$ 0.70116265
Class 5-A3....$ 0.00000000 Class 5-B2....$ 0.70116324
Class 5-A4....$ 0.00000000 Class 5-B3....$ 0.70116469
Class 5-A5....$ 0.70116294 Class 5-B4....$ 0.70116071
Class 5-A6....$ 26.75550700 Class 5-B5....$ 0.70116578
Class 5-A7....$ 0.00000000 Class 5-R.....$ 0.00000000
Class 5-PO1...$ 0.72894945
Class 5-PO2...$ 0.79163317
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 5-A1....$ 19.63399807 Class 5-M.....$ 0.00000000
Class 5-A2....$ 0.00000000 Class 5-B1....$ 0.00000000
Class 5-A3....$ 0.00000000 Class 5-B2....$ 0.00000000
Class 5-A4....$ 0.00000000 Class 5-B3....$ 0.00000000
Class 5-A5....$ 0.66651713 Class 5-B4....$ 0.00000000
Class 5-A6....$ 25.43346598 Class 5-B5....$ 0.00000000
Class 5-A7....$ 0.00000000 Class 5-R.....$ 0.00000000
Class 5-PO1...$ 0.69293066
Class 5-PO2...$ 0.75251705
iii) The amount of such distribution to the Certificateholders of each
class, allocable to Interest:
Class 5-A1....$ 5.54806829 Class 5-B1....$ 6.22459110
Class 5-A2....$ 6.25000000 Class 5-B2....$ 6.22459025
Class 5-A3....$ 6.25000000 Class 5-B3....$ 6.22459110
Class 5-A4....$ 6.25000000 Class 5-B4....$ 6.22459466
Class 5-A5....$ 6.22459174 Class 5-B5....$ 6.22463068
Class 5-A6....$ 5.65640137 Class 5-R.....$ 0.00000000
Class 5-A7....$ 0.00000000 Class 5-S1....$ 0.46435068
Class 5-M.....$ 6.22459110 Class 5-S2....$ 0.82259252
iv) The amount of servicing compensation received by the Company during
the month preceding the month of distribution:.....$ 95,459.34
(b) The amounts below are for the aggregate of all Certificates.
v) 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:.......$ 449,695,631.53
The aggregate number of Mortgage Loans included in the Scheduled
Principal Balance set forth above:................. 1,687
vi) 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 5-A1...................$ 27,042,468.25 $ 867.04
Class 5-A2...................$ 201,185,712.00 $ 1,000.00
Class 5-A3...................$ 6,100,000.00 $ 1,000.00
Class 5-A4...................$ 1,950,000.00 $ 1,000.00
Class 5-A5...................$ 9,885,495.53 $ 995.23
Class 5-A6...................$ 182,197,889.14 $ 878.27
Class 5-A7...................$ 0.00 $ 0.00
Class 5-PO1..................$ 122,398.38 $ 902.51
Class 5-PO2..................$ 496,106.60 $ 992.93
Class 5-M....................$ 7,311,373.99 $ 995.23
Class 5-B1...................$ 4,874,249.34 $ 995.23
Class 5-B2...................$ 3,655,687.49 $ 995.23
Class 5-B3...................$ 2,437,124.65 $ 995.23
Class 5-B4...................$ 731,137.30 $ 995.23
Class 5-B5...................$ 1,705,988.86 $ 995.23
Class 5-R....................$ 0.00 $ 0.00
Class 5-S1...................$ 121,981,187.97 $ 914.72
Class 5-S2...................$ 298,142,810.19 $ 914.11
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.........................................$ 0.00
unpaid principal balance...........................$ 0.00
number of related mortgage loans................... 0
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 34 Principal Balance *$ 8,068,251.40
(2) 60-89 days
Number 4 Principal Balance $ 667,077.68
(3) 90 days or more
Number 1 Principal Balance $ 183,537.74
(b) in foreclosure
Number 3 Principal Balance $ 871,440.70
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) The Certificate Interest Rates, applicable to the Interest Accrual
Period relating to such Distribution Date:
Class 5-S1: ........................ 0.449814%
Class 5-S2: ........................ 0.324497%
1. Senior Percentage for such Distribution Date: ....... 95.44685700%
2. Category A-Senior Percentage for such Distribution
Date:................................................ 10.02192000%
3. Category B-Senior Percentage for such Distribution
Date: ............................................... 85.42493700%
4. Category A-Percentage for such Distribution Date: ... 10.50000000%
5. Category B-Percentage for such Distribution Date: ... 89.50000000%
6. Group I Senior Percentage for such Distribution Date: 49.08594100%
7. Category A-Group I Senior Percentage for such
Distribution Date: .................................. 7.84915400%
8. Category B-Group I Senior Percentage for such
Distribution Date: .................................. 41.23678700%
9. Group II Senior Percentage for such Distribution
Date: ............................................... 46.36091600%
10. Category A-Group II Senior Percentage for such
Distribution Date: .................................. 2.17276600%
11. Category B-Group II Senior Percentage for such
Distribution Date: .................................. 44.18815000%
12. Category B-Group I Scheduled Distribution Percentage: 85.42493700%
13. Category B-Group II Scheduled Distribution Percentage: 0.00000000%
14. Senior Prepayment Percentage for such Distribution
Date: ...............................................100.00000000%
15. Category A-Senior Prepayment Percentage for such
Distribution Date: .................................. 10.50000000%
16. Category B-Senior Prepayment Percentage for such
Distribution Date: .................................. 89.50000000%
17. Group I Senior Prepayment Percentage for such
Distribution Date: ..................................100.00000000%
18. Category A-Group I Senior Prepayment Percentage for such
Distribution Date: .................................. 10.50000000%
19. Category B-Group I Senior Prepayment Percentage for such
Distribution Date: .................................. 89.50000000%
20. Group II Senior Prepayment Percentage for such
Distribution Date: .................................. 0.00000000%
21. Category A-Group II Senior Prepayment Percentage for such
Distribution Date: .................................. 0.00000000%
22. Category B-Group II Senior Prepayment Percentage for such
Distribution Date: .................................. 0.00000000%
23. Junior Percentage for such Distribution Date: ....... 4.55314300%
24. Junior Prepayment Percentage for such Distribution
Date: ............................................... 0.00000000%
25. Subordinate Certificate Writedown Amount for such
Distribution Date: ..................................$ 0.00
* Due to a large servicing transfer in September 1997, the number of
Mortgage Loans 30-59 days delinquent may be inflated due to borrowers sending
monthly paymnets to the wrong location or delays by the Company loading the
Mortgage Loans on its servicing system. It has also been the Company's
experience that for the majority of such Mortgage Loans the routing of
borrowers' monthly payments has corrected itself by the second Distribution Date
after transfer. However, the Company makes no assurances as to the level of
delinquent Mortgage Loans for future Distribution Dates.