NORWEST ASSET SECURITIES CORP
8-K, 1999-03-17
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 17, 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
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               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 1999-13



<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 17, 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 1999-13




- --------------------------------------------------------------------------------
                            NASCOR MORTGAGE LOAN POOL
                            20 TO 30 -YEAR FIXED RATE
                            NON-RELOCATION MORTGAGES
                              NASCOR SERIES 1999-13
                             POOL PROFILE (3/16/99)

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

<TABLE>
<CAPTION>

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

     AGGREGATE PRINCIPAL BALANCE                                 $500,000,000                  (+/- 5.00%)

     MORTGAGE LOAN CUTOFF DATE                                       1-Apr-99
     INTEREST RATE RANGE                                      5.500% - 8.500%
     GROSS WAC                                                          7.12%                (+/- 10 Bps%)
     WEIGHTED AVERAGE SERVICE FEE                                      25 bps
     MASTER SERVICING FEE                                             1.7 bps
     WAM (in months)                                                      356                (+/- 2 month)

     WALTV                                                                70%                (maximum 76%)

     CALIFORNIA %                                                         45%                (maximum 52%)
     SINGLE LARGEST ZIP CODE CONCENTRATION                                 2%                (maximum  5%)

     AVERAGE LOAN BALANCE                                            $361,429           (maximum $375,000)
     LARGEST INDIVIDUAL LOAN BALANCE                               $1,000,000         (maximum $1,500,000)

     CASH-OUT REFINANCE %                                                 16%                (maximum  22)

     PRIMARY RESIDENCE %                                                  99%                (minimum 93%)

     SINGLE-FAMILY DETACHED %                                             93%                (minimum 87%)

     FULL DOCUMENTATION %                                                 91%                (minimum 85%)             
                                                                                                                       
     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 1999-13
                               PRICING INFORMATION

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


     RATING AGENCIES                           TBD by Norwest

     PASS THRU RATE                                     6.50%

     ASSUMED SIZE OF PRINCIPAL ONLY CLASS              29 bps

     PRICING DATE                                   16-Mar-99

     FINAL STRUCTURE DUE DATE                       12-Apr-99          9:00 AM

     SETTLEMENT DATE                                29-Apr-99

     ASSUMED SUB LEVELS                                   AAA           3.900%
                                                           AA           2.500%
                                                            A           1.150%
                                                          BBB           0.700%
                                                           BB           0.400%
                                                            B           0.200%





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 1999-13.  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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