NORWEST ASSET SECURITIES CORP
8-K, 1998-03-20
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: March 20, 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  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.





<PAGE>



ITEM 7.    Financial Statements and Exhibits

                    (c) Exhibits

Item 601(a)
of Regulation S-K
Exhibit No.                                 Description
- -----------                                 -----------
         (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



<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


March 20, 1998

                                   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                        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.


<TABLE>
<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            
</TABLE>
                                                                    
*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.


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