NORWEST ASSET SECURITIES CORP
8-K, 1997-11-25
ASSET-BACKED SECURITIES
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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934


Date of Report:  November 25, 1997
(Date of earliest event reported)

Commission File No. 333-21263





                           Norwest Asset Securities Corporation
- --------------------------------------------------------------------------------

        Delaware                                               52-1972128
- --------------------------------------------------------------------------------
(State of Incorporation)                  (I.R.S. Employer Identification No.)

7485 New Horizon Way
Frederick, Maryland                                        21703
- --------------------------------------------------------------------------------
Address of principal executive offices                  (Zip Code)



                                 (301) 846-8881
- --------------------------------------------------------------------------------
               Registrant's Telephone Number, including area code



- --------------------------------------------------------------------------------
              (Former name, former address and former fiscal year,
                         if changed since last report)

<PAGE>

ITEM 5.    Other Events

     Attached  as an exhibit are the  Collateral  Term Sheets (as defined in the
no-action  letter dated  February 17, 1995 issued by the Securities and Exchange
Commission  to the Public  Securities  Association)  prepared  by Norwest  Asset
Securities Corporation which are hereby filed pursuant to such letter.

<PAGE>

ITEM 7.    Financial Statements and Exhibits
           ---------------------------------

           (c) Exhibits

Item 601(a)
of Regulation S-K
Exhibit No.                                 Description
- -----------                                 -----------
         (99)                               Collateral Term Sheets
                                            prepared by Norwest Asset
                                            Securities Corporation in
                                            connection with Norwest
                                            Asset Securities Corporation,
                                            Mortgage Pass-Through
                                            Certificates, Series 1997-21

<PAGE>

     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.

                                            NORWEST ASSET SECURITIES CORPORATION


November 25, 1997

                                            By: /s/ B. David Bialzak
                                                --------------------------------
                                                B. David Bialzak
                                                Vice President

<PAGE>

                                INDEX TO EXHIBITS
                                                            Paper (P) or
Exhibit No.   Description                                   Electronic (E)
- -----------   -----------                                   --------------

   (99)       Collateral Term Sheets                        P
              prepared by Norwest
              Asset Securities
              Corporation in connection
              with Norwest Asset
              Securities Corporation, Mortgage
              Pass-Through Certificates, Series 1997-21


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