NORWEST ASSET SECURITIES CORP
8-K, 1999-08-20
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: August 20, 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  Computational  Materials  (as
      defined  in  the  no-action  letter  dated  May  21,  1994  issued  by the
      Securities  and  Exchange   Commission  to  Kidder,   Peabody   Acceptance
      Corporation-I,  Kidder,  Peabody & Co.  Incorporated and Kidder Structured
      Asset Corporation (the "Kidder Letter"))  prepared by Salomon Smith Barney
      Inc.  ("Salomon  Smith  Barney")  which are hereby filed  pursuant to such
      letter.



                                      -2-

<PAGE>




ITEM 7.       Financial Statements and Exhibits
              ---------------------------------

              (c) Exhibits

Item 601(a)
of Regulation S-K
Exhibit No.                                   Description
- -----------                                   -----------
      (99)                                    Computational Materials
                                              prepared by Salomon Smith Barney
                                              in connection with Norwest Asset
                                              Securities Corporation, Mortgage
                                              Pass-Through Certificates, Series
                                              1999-21



                                      -3-

<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


August 20, 1999

                                            By:    /s/ Allan S. McKenney
                                                   -----------------------------
                                                   Allan S. McKenney
                                                   Vice President



                                      -4-

<PAGE>





                                INDEX TO EXHIBITS



                                                                 Paper (P) or
Exhibit No.         Description                                  Electronic (E)
- -----------         -----------                                  --------------
   (99)             Computational Materials                            P
                    prepared by Salomon Smith Barney
                    in connection with Norwest Asset Securities
                    Corporation, Mortgage Pass-Through
                    Certificates, Series 1999-21.



                                      -5-




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