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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: June 10, 1999
(Date of earliest event reported)
Commission File No. 333-65481
NORWEST ASSET SECURITIES CORPORATION
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)
<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 1999-18 and
1999-19
<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
June 10, 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 1999-18 and 1999-19
NORWEST MORTGAGE INC.
Subordinate Bid List
<TABLE>
<CAPTION>
DEAL: NASCOR 1999-18 * NASCOR 1999-19 *
PRODUCT TYPE: 30YR NON-RELO 15YR
Subordinate Size: $ 34MM $ 5.625MM
SETTLE DATE: 6/29/99 6/29/99
<S> <C> <C> <C> <C> <C> <C>
SUB LEVELS AND RATING AGENCIES:
NMB **RATING **RATING **RATING **RATING
CLASS RATING LEVEL AGENCY LEVEL AGENCY
A AAA/AAA 4.00% TBD 2.25% TBD
B1 AA 1.75% TBD 1.20% TBD
B2 A 1.05% TBD 0.85% TBD
B3 BBB 0.70% TBD 0.50% TBD
B4 BB 0.40% TBD 0.30% TBD
B5 B 0.23% TBD 0.15% TBD
Note: AAA Class will be rated by two rating agencies.
AA through B Classes will be rated by one rating agency.
Collateral: $850MM $250MM
Pass Thru: 6.50% 6.25%
Gross WAC: 7.17% 6.81%
Net WAC: 6.90% 6.54%
WAM: 357 177
WALTV: 72% 65%
California Percent: 49% 36%
Average Loan Balance: $ 355,591 $ 351,964
Max Loan Balance: $ 1,992,485 $ 1,000,000
Cash Out: 14% 21%
Primary Residence: 97% 96%
Single Family Detached: 92% 92%
Full Documentation %: 89% 91%
Uninsured >80% LTV %: 1% 2%
Wtd. Average FICO 725 731
</TABLE>
* Collateral files are prior to "Due Diligence", minor changes are to be
expected.
** Preliminary estimates on these rating levels and rating agencies.
THE INFORMATION CONTAINED HEREIN WILL BE
SUPERSEDED BY THE DESCRIPTION OF THE
MORTGAGE LOANS CONTAINED IN THE PROSPECTUS
SUPPLEMENT.
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