NORWEST ASSET SECURITIES CORP
8-K, 1999-06-10
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 6, 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 1999-18



<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 6, 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




                              NORWEST MORTGAGE INC.
                              Subordinate Bid List




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

<TABLE>
<CAPTION>

SUB LEVELS AND RATING AGENCIES:
<S>            <C>                   <C>           <C>            <C>            <C>
    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

</TABLE>

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



*    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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