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: March 20, 1998
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(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 Structural 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.
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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) Structural Term Sheets
prepared by Norwest Asset
Securities Corporation in
connection with Norwest
Asset Securities Corporation,
Mortgage Pass-Through
Certificates, Series 1998-6, 1998-7
and 1998-9
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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
March 20, 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 E
prepared by Norwest
Asset Securities
Corporation in connection
with Norwest Asset
Securities Corporation, Mortgage
Pass-Through Certificates, Series 1998-6,
1998-7 and 1998-9
NORWEST MORTGAGE INC.
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<CAPTION>
Deal: NASCOR 1998-6 * NASCOR 1998-7 * NASCOR 1998-9 *
Product Type: 30Yr 30Yr 30Yr (Relo)
Subordinate Size: $ 14.00MM $ 10.25MM $ 8.80MM
Settle Date: 3/30/98 3/30/98 3/30/98
Sub Levels and
Rating Agencies:
NMB *SUBORDINATION *RATING *SUBORDINATION *RATING *SUBORDINATION *RATING
CLASS RATING LEVEL AGENCY LEVEL AGENCY LEVEL AGENCY
<S> <C> <C> <C> <C> <C> <C>
A AAA/AAA 4.00% Moody's/DCR 4.10% S&P/Fitch 3.20% S&P/DCR
B1 AA/AA 2.75% Moody's/DCR 2.50% S&P/Fitch 2.00% S&P/DCR
B2 A/A 1.25% DCR 1.15% Fitch 0.85% DCR
B3 BBB/BBB 0.80% DCR 0.70% Fitch 0.55% DCR
B4 BB/BB 0.45% DCR 0.40% Fitch 0.25% DCR
B5 B/B 0.25% DCR 0.25% Fitch 0.15% DCR
B6 N/R N/R N/R N/R
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C>
Collateral: $350MM $250MM $275MM
Pass Thru: 6.75% 6.75% 6.50%
Gross WAC: 7.58% 7.55% 7.08%
Net WAC: 7.32% 7.29% 6.81%
WAM: 357 357 357
WALTV: 75% 74% 79%
California Percent: 37% 42% 24%
Average Loan Balance: $ 309,000 $ 309,000 $ 314,000
Max Loan Balance: $1,000,000 $1,000,000 $1,500,000
Cash Out: 9% 11% 0%
Primary Residence: 96% 97% 100%
Single Family Detached: 90% 94% 94%
Full Documentation %: 94% 93% 62%
Uninsured greater
than 80% LTV %: 1% 2% 18%
WTD. FICO: 724 731 731
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*All subordination levels, rating agencies, and collateral information is
provided on a preliminary basis and is subject to change.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT.