NORWEST ASSET SECURITIES CORP
8-K, 1999-09-09
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:  September 9, 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.


                                      -2-


<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 1999-25


                                      -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


September 9, 1999

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


                                      -4-


<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 1999-25


                                      -5-




<TABLE>
- ----------------------------------------------------------------------------------------------------------------------------
                                                      NASCOR MORTGAGE LOAN POOL
                                                      20 TO 30 -YEAR FIXED RATE
                                                        RELOCATION MORTGAGES
                                                        NASCOR SERIES 1999-25
                                                        POOL PROFILE (9/8/99)

- ----------------------------------------------------------------------------------------------------------------------------
<CAPTION>

                                                                -------------------------       -------------------------
                                                                          BID                          TOLERANCE
                                                                -------------------------       -------------------------
<S>                                                                         <C>                               <C>
      AGGREGATE PRINCIPAL BALANCE                                           $300,000,000                      (+/- 5.00%)

      MORTGAGE LOAN CUTOFF DATE                                                 1-Sep-99
      INTEREST RATE RANGE                                                 6.125% - 8.50%
      GROSS WAC                                                                    7.15%                    (+/- 10 Bps%)
      WEIGHTED AVERAGE SERVICE FEE                                                25 bps
      MASTER SERVICING FEE                                                       1.7 bps
      WAM (in months)                                                                358                    (+/- 2 month)

      WALTV                                                                          78%                    (maximum 80%)

      CALIFORNIA %                                                                   21%                    (maximum 25%)
      SINGLE LARGEST ZIP CODE CONCENTRATION                                           2%                    (maximum  3%)

      AVERAGE LOAN BALANCE                                                      $366,909               (maximum $370,000)
      LARGEST INDIVIDUAL LOAN BALANCE                                         $1,298,881             (maximum $1,500,000)

      CASH-OUT REFINANCE %                                                            0%                    (maximum  3%)

      PRIMARY RESIDENCE %                                                           100%                    (minimum 97%)

      SINGLE-FAMILY DETACHED %                                                       96%                    (minimum 93%)

      FULL DOCUMENTATION %                                                           42%                    (minimum 39%)

      UNINSURED > 80% LTV %                                                          15%                    (maximum 18%)

      TEMPORARY BUYDOWNS                                                              0%                    (maximum  2%)

      WEIGHTED AVERAGE FICO SCORE                                                    731                    (minimum 726)



                            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.


- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>


<PAGE>

<TABLE>
<CAPTION>

- ----------------------------------------------------------------------------------------------------------------------------
                                                      NASCOR MORTGAGE LOAN POOL
                                                      20 TO 30 -YEAR FIXED RATE
                                                        RELOCATION MORTGAGES
                                                        NASCOR SERIES 1999-25
                                                         PRICING INFORMATION

- ----------------------------------------------------------------------------------------------------------------------------
<S>                                                                                    <C>                   <C>
      RATING AGENCIES                                                         TBD by Norwest

      PASS THRU RATE                                                                   6.50%

      ASSUMED SIZE OF PRINCIPAL ONLY CLASS                                             0.63%

      PRICING DATE                                                                       TBD

      FINAL STRUCTURE DUE DATE                                                     10-Sep-99                  9:00 AM

      SETTLEMENT DATE                                                              29-Sep-99

      ASSUMED SUB LEVELS                                                                 AAA                   3.000%
                                                                                          AA                   1.150%
                                                                                           A                   0.750%
                                                                                         BBB                   0.500%
                                                                                          BB                   0.250%
                                                                                           B                   0.150%

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


     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  1999-25.  The principal  only  certficate  created by the
     discount  mortgage  loans will not be  included  in the bid on the  pricing
     date.



      NASCOR CONTACTS                              Wayne Creadick (301)846-8452
                                                   Lori Maller (301) 846-8185










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</TABLE>



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