8-K 1 sea1_april04.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Sec. 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 26, 2004 -------------------- GS Mortgage Securities Corp. (as depositor under the Master Servicing and Trust Agreement, dated as of March 1, 2004 providing for the issuance of GSAMP Trust 2004-SEA1 Mortgage Pass-Through Certificates, Series 2004-SEA1) ------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 333-100818-28 13-6357101 ------------------------------------------------------------------------------- (State or other jurisdiction (Commission File Number) (IRS Employer of incorporation or organization) Identification No.) 85 Broad Street New York, NY 10004 ------------------------------------------------------------------------------- (Address of principal executive offices) Registrant's telephone number, including area code : (212) 902-1000 ------------------------ N/A ------------------------------------------------------------------------------- (Former name or former address, if changed since last report.) Item 5. Other Events. This current report on Form 8-K relates to the monthly distribution reported to the holders of GSAMP Trust 2004-SEA1 Mortgage Pass-Through Certificates, Series 2004-SEA1 pursuant to the terms of the Master Servicing and Trust Agreement, dated as of March 1, 2004 among GS Mortgage Securities Corp., as Depositor, Chase Manhattan Mortgage Corporation, as Master Servicer, Wachovia Bank, N.A., as Trustee, and JPMorgan Chase Bank, as Securities Administrator. On April 26, 2004 distributions were made to the Certificateholders. Specific information with respect to the distributions is filed as Exhibit 99.1. No other reportable transactions or matters have occurred during the current reporting period. Item 7. Financial Statements and Exhibits. (a) Not applicable (b) Not applicable (c) The following exhibit is filed as part of this report: Statement to Certificateholders on April 26, 2004 is filed as Exhibit 99.1 hereto. GSAMP Trust 2004-SEA1 Mortgage Pass-Through Certificates, Series 2004-SEA1 ---------------------------------------------------------------------------- SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. JPMORGAN CHASE BANK, not in its individual capacity, but solely as Trustee under the Agreement referred to herein Date: April 29, 2004 By: /s Annette Marsula -------------------------------------------- Annette Marsula Vice President INDEX TO EXHIBITS Exhibit Number Description of Exhibits 99.1 Monthly Certificateholder Statement on April 26, 2004 Exhibit 99.1 Monthly Certificateholder Statement on April 26, 2004 GSAMP TRUST 2004-SEA1 STATEMENT TO CERTIFICATEHOLDERS April 26, 2004 ----------------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION IN DOLLARS ----------------------------------------------------------------------------------------------------------------------------------- Original Beginning Ending Face Principal Realized Deferred Principal Class Value Balance Principal Interest Total Losses Interest Balance ----------------------------------------------------------------------------------------------------------------------------------- A1A 82,409,000.00 82,409,000.00 4,115,234.75 79,112.64 4,194,347.39 0.00 0.00 78,293,765.25 A1B 15,790,000.00 15,790,000.00 0.00 19,421.70 19,421.70 0.00 0.00 15,790,000.00 A2 17,329,000.00 17,329,000.00 0.00 22,614.35 22,614.35 0.00 0.00 17,329,000.00 M1 7,702,000.00 7,702,000.00 0.00 10,628.76 10,628.76 0.00 0.00 7,702,000.00 M2 2,246,000.00 2,246,000.00 0.00 4,194.41 4,194.41 0.00 0.00 2,246,000.00 B1 642,000.00 642,000.00 0.00 1,487.84 1,487.84 0.00 0.00 642,000.00 B2 642,000.00 642,000.00 0.00 1,728.59 1,728.59 0.00 0.00 642,000.00 B3 642,000.00 642,000.00 0.00 1,969.34 1,969.34 0.00 0.00 642,000.00 P 100.00 100.00 0.00 19,119.53 19,119.53 0.00 0.00 100.00 R 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 TOTALS 127,402,100.00 127,402,100.00 4,115,234.75 160,277.16 4,275,511.91 0.00 0.00 123,286,865.25 X 128,362,619.85 128,362,619.85 0.00 702,538.06 702,538.06 0.00 0.00 124,249,584.90 ---------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------- --------------------------- Factor Information Per $1,000 of Original Face Pass-through Rates --------------------------------------------------------------------------------------------------- --------------------------- Current Beginning Ending Class Pass-thru Class CUSIP Principal Principal Interest Total Principal Rate (%) --------------------------------------------------------------------------------------------------- --------------------------- A1A 36228FL46 1,000.00000000 49.93671504 0.96000000 50.89671504 950.06328496 A1A 1.280000 % A1B 36228FL53 1,000.00000000 0.00000000 1.23000000 1.23000000 1,000.00000000 A1B 1.640000 % A2 36228FP26 1,000.00000000 0.00000000 1.30500029 1.30500029 1,000.00000000 A2 1.740000 % M1 36228FL61 1,000.00000000 0.00000000 1.38000000 1.38000000 1,000.00000000 M1 1.840000 % M2 36228FL79 1,000.00000000 0.00000000 1.86750223 1.86750223 1,000.00000000 M2 2.490000 % B1 36628FL87 1,000.00000000 0.00000000 2.31750779 2.31750779 1,000.00000000 B1 3.090000 % B2 36628FL95 1,000.00000000 0.00000000 2.69250779 2.69250779 1,000.00000000 B2 3.590000 % B3 36228FM29 1,000.00000000 0.00000000 3.06750779 3.06750779 1,000.00000000 B3 4.090000 % P 36228FM45 1,000.00000000 0.00000000 ####### ####### 1,000.00000000 P 0.000000 % TOTALS 1,000.00000000 32.30115320 1.25804174 33.55919494 967.69884680 X 36228FM37 1,000.00000000 0.00000000 5.47307355 5.47307355 967.95768928 X 0.000000 % ----------------------------------------------------------------------------------------------------- ---------------------------- If there are any questions or comments, please contact the Relationship Manager listed below. -------------------------------------- JON SARANITI JPMorgan Chase Bank - Structured Finance Services 4 NY PLAZA, 6TH FLOOR, New York, New York 10004 Tel: (212) 623-4527 Fax: (212) 623-5930 Email: jon.c.saraniti@jpmorgan.com --------------------------------------- Sec. 7.08(i) Amount in Certificate Account 4,978,049.94 Sec. 7.08(i) Principal Distribution Amount Scheduled Principal Amount 83,291.60 Principal Prepayment Amount 4,029,743.34 Sec. 7.08(i) Principal Prepayments Payoffs in Full 1,096,434.84 Partial Principal Prepayments 2,933,308.50 Liquidation Proceeds 0.00 Sec. 7.08(a)(ii) Aggregate Distribution Amount Total Offered Certificates Accrued Certificate Interest 141,157.61 Interest Shortfall Carryforward Amount 0.00 Principal Distribution Amount 4,115,234.75 Total Class A Certificates Accrued Certificate Interest 121,148.69 Interest Shortfall Carryforward Amount 0.00 Basis Risk Carry Forward Amount 0.00 Principal Distribution Amount 4,115,234.75 Total Class M Certificates Accrued Certificate Interest 14,823.17 Interest Shortfall Carryforward Amount 0.00 Basis Risk Carry Forward Amount 0.00 Principal Distribution Amount 0.00 Total Class B Certificates Accrued Certificate Interest 5,185.76 Interest Shortfall Carryforward Amount 0.00 Basis Risk Carry Forward Amount 0.00 Principal Distribution Amount 0.00 Sec. 7.08(iii) Payment Shortfall Class A1A Interest Shortfall 0.00 Principal Shortfall 0.00 Class A1B Interest Shortfall 0.00 Principal Shortfall 0.00 Class A2 Interest Shortfall 0.00 Principal Shortfall 0.00 Class M1 Interest Shortfall 0.00 Principal Shortfall 0.00 Class M2 Interest Shortfall 0.00 Principal Shortfall 0.00 Class B1 Interest Shortfall 0.00 Principal Shortfall 0.00 Class B2 Interest Shortfall 0.00 Principal Shortfall 0.00 Class B3 Interest Shortfall 0.00 Principal Shortfall 0.00 Sec. 7.08(a)(iii) LIBOR 1.09000 % Sec. 7.08(a)(iv) Fees Servicer Fee 53,484.42 Master Servicing Fee 1,604.53 Sec. 7.08(a)(vi) Realized Losses For Current Period 0.00 Amount of Cumulative Realized Losses 0.00 Amount of Applied Realized Losses 0.00 Sec. 7.08(xii) Ending Pool Stated Principal Balance 124,249,584.90 Sec. 7.08(xii) Number of Mortgage Loans 1,192.00 Sec. 7.08(xiv) Gross Weighted Average Interest Rate 8.42 Sec. 7.08(xv) Weighted Average Remaining Term 282.00 Sec. 7.08(xviii)Principal Balance of Largest Mortgage Loan 1,044,784.01 Sec. 7.08(a)(xix) Number, Balance, and Percentage of Delinquent Loans Number of Loans are 30-59 days delinquent 46 Balance of Loans are 30-59 days delinquent 4,056,879.69 Percentage of Loans are 30-59 days delinquent 3.27 % Number of Loans are 60-89 days delinquent 38 Balance of Loans are 60-89 days delinquent 4,161,275.31 Percentage of Loans are 60-89 days delinquent 3.35 % Number of Loans are 90-119 days delinquent 23 Balance of Loans are 90-119 days delinquent 1,676,596.30 Percentage of Loans are 90-119 days delinquent 1.35 % Number of Loans are 120-149 days delinquent 10 Balance of Loans are 120-149 days delinquent 711,888.10 Percentage of Loans are 120-149 days delinquent 0.57 % Number of Loans are 150-179 days delinquent 17 Balance of Loans are 150-179 days delinquent 1,389,454.66 Percentage of Loans are 150-179 days delinquent 1.12 % Number of Loans are 180 or more days delinquent 111 Balance of Loans are 180 or more days delinquent 9,540,938.89 Percentage of Loans are 180 or more days delinquent 7.68 % Sec. 7.08(a)(xx) Mortgage loans in Foreclosure Sec. 7.08(a)(xxi) Mortgage loans in bankruptcy proceedings Group Totals Principal Number Balance Percentage 0 0.00 0.00% Sec. 7.08(a)(xxi) Number and Balance of loans in Bankruptcy Number of Loans are 0-29 days delinquent 0 Balance of Loans are 0-29 days delinquent 0.00 Number of Loans are 30-59 days delinquent 0 Balance of Loans are 30-59 days delinquent 0.00 Number of Loans are 60-89 days delinquent 0 Balance of Loans are 60-89 days delinquent 0.00 Number of Loans are 90-119 days delinquent 0 Balance of Loans are 90-119 days delinquent 0.00 Number of Loans are 120-149 days delinquent 0 Balance of Loans are 120-149 days delinquent 0.00 Number of Loans are 150-179 days delinquent 0 Balance of Loans are 150-179 days delinquent 0.00 Number of Loans are 180 or more days delinquent 0 Balance of Loans are 180 or more days delinquent 0.00 Sec. 7.08(a)(xxii) Number and Balance of loans in foreclosure proceedings Number of Loans are 0-29 days delinquent 0 Balance of Loans are 0-29 days delinquent 0.00 Number of Loans are 30-59 days delinquent 0 Balance of Loans are 30-59 days delinquent 0.00 Number of Loans are 60-89 days delinquent 0 Balance of Loans are 60-89 days delinquent 0.00 Number of Loans are 90-119 days delinquent 0 Balance of Loans are 90-119 days delinquent 0.00 Number of Loans are 120-149 days delinquent 0 Balance of Loans are 120-149 days delinquent 0.00 Number of Loans are 150-179 days delinquent 0 Balance of Loans are 150-179 days delinquent 0.00 Number of Loans are 180 or more days delinquent 0 Balance of Loans are 180 or more days delinquent 0.00 Sec. 7.08(a)(xxiv) Number and Balance of REO loans Group Totals Principal Number Balance Percentage 0 0.00 0.00% Sec. 7.08(a)(xxv) Book Value of Mortgage loans acquired through foreclosure or grant of a deed 0.00 Sec. 7.08(a)(xxvi) Number of Mortgage loans 1,192 Sec. 7.08(a)(xxvii) Aggregate amount from a. Curtailments 248,544.29 b. Voluntary Payoffs 1,096,434.84 c. Involuntary Payoffs 0.00 d. Mortgage Loans purchased from the Trust 0.00 Sec. 7.08(a)(xxviii) Mortgage loans subject to loss mitigation* Number of loans 0 Principal Balance of loans 0.00 Sec. 7.08(a)(xxix) Mortgage loans under contested because of Section 32 of the Truth in Lending Act* Number of loans 0 Principal Balance of loans 0.00 Sec. 7.08(a)(xxx) Amount of current Realized Losses* a. REO Property sold 0.00 b. short sale 0.00 c. deed in lieu 0.00 d. no equity second mortgages 0.00 e. other 0.00 Sec. 7.08(a)(xxxi) Number and Pool Balance in Chapter 13 of the US Bankruptcy Code* a.Number of Loans Currently meeting payment plan 0.00 a.Balance of Loans Currently meeting payment plan 0.00 b.Number of Loans 1 to 2 payments behind payment plan 0.00 b.Balance of Loans 1 to 2 payments behind payment plan 0.00 c.Number of Loans 2 to 3 payments behind payment plan 0.00 c.Balance of Loans 2 to 3 payments behind payment plan 0.00 d.Number of Loans greater than 3 payments behind payment plan 0.00 d.Balance of Loans greater than 3 payments behind payment plan 0.00 e.Number of Loans greater than 4 payments behind payment plan 0.00 e.Balance of Loans greater than 4 payments behind payment plan 0.00 f.Number of Loans greater than 5 payments behind payment plan 0.00 f.Balance of Loans greater than 5 payments behind payment plan 0.00 Sec. 7.08(xxxiv)Net Monthly Excess Cashflow 702,538.06 Sec. 7.08(xxxiv)Overcollateralization Overcollateralization Amount 962,719.65 Specified Overcollateralization Amount 962,719.65 Sec. 7.08(xxxi) Step Down Test Stepdown Date Not in effect Sec. 7.08(xxxi) Trigger Event NO

_________________________________________________

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES AND EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported)

March 30, 2004

GS Mortgage Securities Corp.

(Exact Name of Registrant as Specified in its Charter)

Delaware	333-100818	13-6357101
(State or Other Jurisdiction Of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

85 Broad Street New York, New York		10004
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (212) 902-1000

None

(Former Name or Former Address, if Changed Since Last Report)

Item 5. Other Events.

The Registrant registered issuances of Mortgage Pass-Through Certificates, Series 2004-SEA1 on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, as amended, by a Registration Statement on Form S-3 (Registration File No. 333-100818) (the “Registration Statement”). Pursuant to the Registration Statement, the Registrant issued $127,402,000 aggregate principal amount of Class A-1A, Class A-1B, Class A-2, Class M-1, Class M-2, Class B-1, Class B-2 and B-3 Certificates (the “Publicly Offered Certificates”) on March 30, 2004. This Current Report on Form 8-K is being filed to satisfy an undertaking, contained in the definitive Prospectus dated March 24, 2004, as supplemented by the Prospectus Supplement dated March 26, 2004, to file a copy of the Trust Agreement (as defined below) and other operative agreements executed in connection with the issuance of the Publicly Offered Certificates, a form of which was filed as an exhibit to the Registration Statement.

The Publicly Offered Certificates were issued pursuant to a Trust Agreement (the “Trust Agreement”), attached hereto as Exhibit 4.5.1, dated as of March 1, 2004, among GS Mortgage Securities Corp., as depositor, Chase Manhattan Mortgage Corporation, as master servicer, JP Morgan Chase Bank, as securities administrator and custodian, and Wachovia Bank, National Association, as Trustee. The “Certificates” consist of the Publicly Offered Certificates and the Class X, Class P and Class R Certificates. The Certificates evidence all of the beneficial ownership interest in a trust fund that consists primarily of a pool of certain conventional, fixed rate, residential mortgage loans with an aggregate outstanding principal balance of approximately $123,365,405 as of March 1, 2004, together with certain other assets. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to them in the Trust Agreement.

Item 7. Financial Statements; Pro Forma Financial Information and Exhibits

(a)

Not applicable.

(b)

Not applicable.

(c)

Exhibits:

4.5.1

Trust Agreement, dated as of March 1, 2004, among GS Mortgage Securities Corp., as depositor, Chase Manhattan Mortgage Corporation, as master servicer, JP Morgan Chase Bank, as securities administrator and custodian, and Wachovia Bank, National Association, as Trustee

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

GS MORTGAGE SECURITIES CORP.

By: /s/ Christopher Gething

Name: Christopher Gething

Title: Vice President

Dated: March 30, 2004

EXHIBIT INDEX

Exhibit No.

Description

Page No.

4.5.1

Trust Agreement, dated as of March 1, 2004, among GS Mortgage Securities Corp., as depositor, Chase Manhattan Mortgage Corporation, as master servicer, JP Morgan Chase Bank, as securities administrator, and Wachovia Bank, National Association, as Trustee

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