Exhibit 99.15
KPMG Peat Marwick LLP
1600 Market Street
Philadelphia, PA  19103-7212

                         Independent Accountants' Report


The Board of Directors
GE Capital Mortgage Services, Inc.:

We have examined  management's  assertion  about GE Capital  Mortgage  Services,
Inc.'s  (the  Company's)   compliance  with  the  minimum  servicing   standards
identified  in the Mortgage  Bankers  Association  of America's  Uniform  Single
Attestation  Program  for  Mortgage  Bankers  (the USAP) for home  equity  loans
(including  those  serviced  by the  Company  pursuant  to various  pooling  and
servicing  agreements  relating to the Company's publicly rated  mortgage-backed
securities  program) as of and for the year ended  December 31, 1997 included in
the  accompanying  management  assertion.  Management  is  responsible  for  the
Company's compliance with those minimum servicing standards.  Our responsibility
is  to  express  an  opinion  on  management's  assertion  about  the  Company's
compliance based on our examination.

Our  examination  was  made in  accordance  with  standards  established  by the
American  Institute of Certified Public Accountants and,  accordingly,  included
examining,  on a test basis,  evidence about the Company's  compliance  with the
minimum  servicing   standards  and  performing  such  other  procedures  as  we
considered  necessary  in the  circumstances.  We believe  that our  examination
provides a reasonable basis for our opinion.  Our examination does not provide a
legal  determination  on the  Company's  compliance  with the minimum  servicing
standards.

In our opinion,  except for noncompliance  with minimum servicing standard I.1.,
management's assertion that the Company complied with the aforementioned minimum
servicing  standards for home equity loans as of and for the year ended December
31, 1997 is fairly stated, in all material respects.

As discussed in managementOs  assertion,  the material noncompliance occurred at
the Company  during the year ended  December 31,  1997.  With respect to minimum
servicing  standard I.1.,  two of 10 custodial  account  reconciliations  tested
contained  reconciling  items that were not resolved  within 90 calendar days of
their original identification.

These conditions were considered in determining the nature, timing and extent of
audit tests applied in our audit of the 1997 consolidated  financial statements,
and this  report  does not affect our report  dated  January  23,  1998 on those
consolidated financial statements.


                                                     /s/ KPMG Peat Marwick LLP

February 17, 1998


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GE Capital Mortgage Services, Inc.
A unit of GE Capital Mortgage Corporation
Three Executive Campus
Cherry Hill, NJ  08002
(609) 661-6100, 800-257-7818




Except for  non-compliance  with minimum servicing standard I.1 described below,
as of and for the year ended  December 31, 1997, GE Capital  Mortgage  Services,
Inc.  (the  Company)  has  complied in all  material  respects  with the minimum
servicing  standards  for home  equity  servicers  as set forth in the  Mortgage
Bankers Association of America's Uniform Single Attestation Program for Mortgage
Bankers.  As of and for this same  period,  the Company had in effect a fidelity
bond and errors and omissions  policy in the minimum  amount of $120 million and
$20 million, respectively.


With respect to minimum  servicing  standard I.1.,  certain  accounts  contained
reconciling  items that were not resolved  within  ninety (90)  calendar days of
their original  identification.  As of December 31, 1997,  there were unresolved
reconciling  items in less than one  percent  (1%) of such  accounts.  It is the
Company's policy to clear all reconciling items within thirty (30) days from the
date of their original identification.









/s/ Glen Messina
------------------------------
Glen Messina
Vice President, Treasurer and Chief Financial Officer
GE Capital Mortgage Services, Inc.