NORWEST ASSET SECURITIES CORP
8-K, 1998-05-21
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: May 21, 1998
(Date of earliest event reported)

Commission File No. 333-45021



                      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 Computational  Materials (as defined in
          the no-action  letter dated May 21, 1994 issued by the  Securities and
          Exchange  Commission  to  Kidder,  Peabody  Acceptance  Corporation-I,
          Kidder,  Peabody  &  Co.  Incorporated  and  Kidder  Structured  Asset
          Corporation (the "Kidder  Letter"))  prepared by Salomon Brothers Inc,
          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)                    Computational Materials
                             prepared by Salomon Brothers Inc
                             in connection with Norwest Asset
                             Securities Corporation, Mortgage
                             Pass-Through Certificates, 
                             Series 1998-12



<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


May 21, 1998

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




<PAGE>




                                INDEX TO EXHIBITS



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

   (99)            Computational Materials                              P
                   prepared by Salomon Brothers Inc
                   in connection with Norwest Asset Securities
                   Corporation, Mortgage Pass-Through
                   Certificates, Series 1998-12




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