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: September 25, 1998
(Date of earliest event reported)
Commission File No. 333-45021
Norwest Asset Securities Corporation
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Delaware 52-1972128
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(State of Incorporation) (I.R.S. Employer Identification No.)
7485 New Horizon Way
Frederick, Maryland 21703
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Address of principal executive offices (Zip Code)
(301) 846-8881
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Registrant's Telephone Number, including area code
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(Former name, former address and former fiscal year, if changed since last
report)
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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 PaineWebber
Incorporated which are hereby filed pursuant to such letter.
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ITEM 7. Financial Statements and Exhibits
(c) Exhibits
Item 601(a)
of Regulation S-K
Exhibit No. Description
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(99) Collateral Term Sheets prepared by
PaineWebber Incorporated in connection with
Norwest Asset Securities Corporation,
Mortgage Pass-Through Certificates, Series
1998-23
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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
September 25, 1998
By: /s/ B. David Bialzak
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B. David Bialzak
Vice President
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INDEX TO EXHIBITS
Paper (P) or
Exhibit No. Description Electronic (E)
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(99) Collateral Term Sheets prepared by E
PaineWebber Incorporated in connection with
Norwest Asset Securities Corporation,
Mortgage Pass-Through Certificates, Series
1998-23
PaineWebber Inc.
$800MM NASCOR 98-23
Whole Loan 30YR Fixed-Rate
GWAC 7.38% +/- 10bps
Pass-Through 6.75%
WAM 357 +/- 2 months
California 45% approx.
Avg. Loan Balance $342K approx.
W.A. LTV 73% approx.
Cash-Out Refl 10% approx. (15% max)
SFD 93% approx.
Primary Residence 97% approx.
Full Documentation 94% approx.
AAA Ratings 2 of 4
Estimated Subordination Level 4.0%
Pricing Speed 275% PSA
Settlement Date Sept. 30, 1998
All numbers approximate.
All tranches subject to 5% size variance.
The information herein has been provided solely by PaineWebber Incorporated.
Neither the issuer of certificates nor any of its affiliates makes any
representation as to the accuracy or completeness of the infomration herein. The
information herein is preliminary, and will be superseded by the applicable
prospectus supplement and by any other information subsequently filed with the
Securities and Exchange Commission. The information contained herein will be
superseded by the Description of the Mortgage Pool contained in the Prospectus
Supplement relating to the Certificates and supercedes all information contained
in any collateral term sheets relating to the mortgage pool previously provided
by PaineWebber Incorporated.
