Exhibit 99.54
GE CAPITAL MORTGAGE SERVICES, INC.
DISTRIBUTION DATE STATEMENT
December, 1998
Series 1998-17, REMIC Multi-Class Pass-Through Certificates
Pursuant to the Pooling and Servicing Agreement dated as of October 1, 1998 (the
"Agreement") between GE Capital Mortgage Services, Inc. (the "Company") and
State Street Bank (the "Trustee"), governing the Certificates referred to above,
the Company hereby certifies to the Trustee:
Weighted average coupon % 7.290349
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Weighted average maturity 355.25
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A. Amount of distribution allocable to principal and interest:
The amounts below are for a Single Certificate of $1,000:
1.
Principal
Principal Per Prepayments Per Interest Per
Class Certificate Certificate Certificate Payout Rate
----- ----------- ----------- ----------- -----------
R $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
PO $ 1.33859398 $ 0.45424791 $ 0.00000000 % 0.00000000
A1 $ 14.83955893 $ 13.91625775 $ 5.56676789 % 6.75000004
A2 $ 0.00000000 $ 0.00000000 $ 5.62500068 % 6.75000081
A3 $ 0.79254972 $ 0.74323825 $ 5.62056276 % 6.74999995
A4 $ 24.49206682 $ 22.96819703 $ 5.52889028 % 6.74999997
A5 $ 0.00000000 $ 0.00000000 $ 5.62500010 % 6.75000011
A6 $ 17.32014908 $ 16.24250826 $ 5.55703372 % 6.74999998
A7 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
A9 $ 17.32014899 $ 16.24250846 $ 5.35121767 % 6.49999999
A8 $ 0.00000000 $ 0.00000000 $ 0.20581626 % 0.25000024
A10 $ 0.00000000 $ 0.00000000 $ 4.88541700 % 5.86250040
A11 $ 0.00000000 $ 0.00000000 $ 7.84375049 % 9.41250059
A12 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
A13 $ 0.00000000 $ 0.00000000 $ 5.62500000 % 6.75000000
RL $ 0.00000000 $ 0.00000000 $ 0.00000000 % 0.00000000
M $ 0.79254982 $ 0.00000000 $ 5.62056336 % 6.75000067
B1 $ 0.79254982 $ 0.00000000 $ 5.62056208 % 6.74999914
B2 $ 0.79254887 $ 0.00000000 $ 5.62056343 % 6.75000076
B3 $ 0.79254937 $ 0.00000000 $ 5.62056292 % 6.75000015
B4 $ 0.79254952 $ 0.00000000 $ 5.62056230 % 6.74999941
B5 $ 0.79254979 $ 0.00000000 $ 5.62056360 % 6.75000116
2. Unanticipated Recoveries: $ 0.00
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B. Accrual Amount
1.
Accrual Amount
Class
N/A $ N/A
2. The amount of servicing compensation received by the Company
during the month preceding the month of distribution:
$ 98,571.10
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C. The amounts below are for the aggregate of all Certificates:
1. The Pool Scheduled Principal Balance: $ 511,111,742.26
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2. The aggregate number of Mortgage Loans included in the Pool
Scheduled Principal Balance set forth above: 1,537
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3.
Beginning Aggregate Class Ending Aggregate Ending
Certificate Principal Class Certificate Single Certificate
Class Balance Principal Balance Balance Cusip
----- ------- ----------------- ------- -----
R $ 0.00 $ 0.00 $ 0.00 00000XXX0
PO $ 988,611.13 $ 987,286.39 $ 997.60 GEC9817PO
A1 $ 99,604,491.92 $ 98,110,943.42 $ 974.81 00000XXX0
A2 $ 7,371,000.00 $ 7,371,000.00 $ 1,000.00 00000XXX0
A3 $ 49,962,517.71 $ 49,922,888.67 $ 998.42 00000XXX0
A4 $ 49,397,317.53 $ 48,166,444.22 $ 958.42 00000XXX0
A5 $ 32,689,411.00 $ 32,689,411.00 $ 1,000.00 00000XXX0
A6 $ 177,766,208.60 $ 174,649,613.88 $ 970.60 00000XXX0
A7 $ 9,672,000.00 $ 9,672,000.00 $ 1,000.00 00000XXX0
A9 $ 24,944,904.03 $ 24,507,570.32 $ 970.60 00000XXX0
A8 $ 24,944,904.03 $ 24,507,570.32 $ 970.60 00000XXX0
A10 $ 14,673,337.00 $ 14,673,337.00 $ 1,000.00 00000XXX0
A11 $ 4,891,113.00 $ 4,891,113.00 $ 1,000.00 00000XXX0
A12 $ 17,620,000.00 $ 17,620,000.00 $ 1,000.00 00000XXX0
A13 $ 7,007,760.00 $ 7,007,760.00 $ 1,000.00 00000XXX0
SUP $ 470,136,887.28 $ 463,853,975.66 $ 977.51 GE9817SUP
RL $ 0.00 $ 0.00 $ 0.00 00000XXX0
M $ 7,821,825.00 $ 7,815,620.92 $ 998.42 00000XXX0
B1 $ 3,910,912.50 $ 3,907,810.46 $ 998.42 00000XXX0
B2 $ 2,606,941.93 $ 2,604,874.17 $ 998.42 00000XXX0
B3 $ 3,390,323.48 $ 3,387,634.36 $ 998.42 00000XXX0
B4 $ 1,563,765.47 $ 1,562,525.13 $ 998.42 00000XXX0
B5 $ 1,565,151.73 $ 1,563,910.29 $ 998.42 00000XXX0
D. 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 delinquent:
1. 30-59 days
Number 27 Principal Balance $ 9,327,948.81
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2. 60-89 days
Number 3 Principal Balance $ 1,020,684.99
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3. 90 days or more
Number 0 Principal Balance $ 0.00
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4. In Foreclosure
Number 0 Principal Balance $ 0.00
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5. Real Estate Owned
Number 0 Principal Balance $ 0.00
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6. The Scheduled Principal Balance of any Mortgage Loan replaced
pursuant to the Pooling And Servicing Agreement:
$ 0.00
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7. The Certificate Interest Rate applicable to the Interest Accrual
Period relating to such Distribution Date applicable to any floating
index certificate:
Certificate Interest
Class Rates
A10 % 5.86250040
A11 % 9.41250059
E. Other Information:
1. Special Hazard Loss Amount: $ 0.00
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2. Bankruptcy Loss Amount: $ 0.00
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3. Fraud Loss Amount: $ 0.00
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4. Certificate Interest Rate of the Class S Certificate: % 0.00000000
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