NORWEST ASSET SECURITIES CORP
8-K, 1999-04-08
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: April 8, 1999
(Date of earliest event reported)

Commission File No. 333-65481





                      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 1999-14



<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


April 8, 1999

                                   By:   /s/ Alan S. McKenney            
                                         --------------------------
                                         Alan S. McKenney
                                         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 1999-14




- --------------------------------------------------------------------------------
                            NASCOR MORTGAGE LOAN POOL
                            20 TO 30 -YEAR FIXED RATE
                            NON-RELOCATION MORTGAGES
                              NASCOR SERIES 1999-14
                              POOL PROFILE (4/8/99)

- --------------------------------------------------------------------------------


<TABLE>
<CAPTION>

                                                         ---------------------      ----------------------
                                                                 Bid                      Tolerance
                                                         ---------------------      ----------------------
     <S>                                                 <C>                         <C>

     AGGREGATE PRINCIPAL BALANCE                                 $700,000,000                  (+/- 5.00%)

     MORTGAGE LOAN CUTOFF DATE                                       1-May-99
     INTEREST RATE RANGE                                      5.500% - 9.500%
     GROSS WAC                                                          7.15%                (+/- 10 Bps%)
     WEIGHTED AVERAGE SERVICE FEE                                      25 bps
     MASTER SERVICING FEE                                             1.7 bps
     WAM (in months)                                                      357                (+/- 2 month)

     WALTV                                                                71%                (maximum 80%)

     CALIFORNIA %                                                         40%                (maximum 50%)
     SINGLE LARGEST ZIP CODE CONCENTRATION                                 1%                (maximum  3%)

     AVERAGE LOAN BALANCE                                            $357,000           (maximum $370,000)
     LARGEST INDIVIDUAL LOAN BALANCE                               $1,468,000         (maximum $1,500,000)

     CASH-OUT REFINANCE %                                                 18%               (maximum  23%)

     PRIMARY RESIDENCE %                                                  97%                (minimum 92%)

     SINGLE-FAMILY DETACHED %                                             92%                (minimum 87%)

     FULL DOCUMENTATION %                                                 93%                (minimum 88%)
                                                                                                          
     UNINSURED > 80% LTV %                                                 1%                 (maximum 5%)
                                                                                                          
     TEMPORARY BUYDOWNS                                                    0%                (maximum  5%)

</TABLE>

             THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY
               THE DESCRIPTION OF THE MORTGAGE LOANS CONTAINED IN
                           THE PROSPECTUS SUPPLEMENT.

- --------------------------------------------------------------------------------

     (1)  All dollar amounts are  approximate  and all percentages are expressed
          as approximate percentages of the Aggregate Principal Balance.


<PAGE>

- --------------------------------------------------------------------------------
                            NASCOR MORTGAGE LOAN POOL
                            20 TO 30 -YEAR FIXED RATE
                            NON-RELOCATION MORTGAGES
                              NASCOR SERIES 1999-14
                               PRICING INFORMATION

- --------------------------------------------------------------------------------

<TABLE>
<CAPTION>
     <S>                                                    <C>                           <C>

     RATING AGENCIES                                          TBD by Norwest

     PASS THRU RATE                                                    6.50%

     ASSUMED SIZE OF PRINCIPAL ONLY CLASS                             21 bps

     PRICING DATE                                                  08-Apr-99

     FINAL STRUCTURE DUE DATE                                      11-May-99               9:00 AM

     SETTLEMENT DATE                                               28-May-99

     ASSUMED SUB LEVELS                     AAA                        3.90%               (+-.10)
                                            AA                         1.70%
                                            A                          1.00%
                                            BBB                        0.70%
                                            BB                         0.40%
                                            B                          0.23%

                                                             Note:  AAA Class will be rated by two rating agencies.
                                                             AA through B Classes will be rated by one rating agency.

</TABLE>


     NASCOR may structure the excess  interest as an interest only  certificate,
     or as fixed retained yield or servicing fee which will be excluded from the
     trust for Series  1999-14.  The principal  only  certficate  created by the
     discount  mortgage  loans will not be  included  in the bid on the  pricing
     date.



     NASCOR CONTACTS                          Brad Davis (301)846-8009
                                              Lori Fountain (301) 846-8185





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