NORWEST ASSET SECURITIES CORP
8-K, 1999-10-26
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:  October 26, 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 1999-27



<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


October 26, 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 1999-27


<PAGE>



Exhibit No. 99



- --------------------------------------------------------------------------------
                                NASCOR MORTGAGE LOAN POOL
                           10-YEAR THROUGH 15-YEAR FIXED RATE
                         NON-RELOCATION AND RELOCATION MORTGAGES
                                  NASCOR SERIES 1999-27
                                 POOL PROFILE (10/14/99)

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

                                        ----------------    -----------------
                                              BID              TOLERANCE
                                        ----------------    -----------------
AGGREGATE PRINCIPAL BALANCE                $150,000,000           (+/- 5.00%)

MORTGAGE LOAN CUTOFF DATE                      1-Nov-99
INTEREST RATE RANGE                       5.75% - 9.00%
GROSS WAC                                         7.20%         (+/- 10 Bps%)
WEIGHTED AVERAGE SERVICE FEE                     25 bps
MASTER SERVICING FEE                            1.7 bps
WAM (in months)                                     176         (+/- 2 month)

WALTV                                               70%         (maximum 75%)

CALIFORNIA %                                        20%         (maximum 30%)
SINGLE LARGEST ZIP CODE CONCENTRATION                2%         (maximum  5%)

AVERAGE LOAN BALANCE                           $344,000     (maximum $350,000)
LARGEST INDIVIDUAL LOAN BALANCE                $997,000     (maximum $1,500,000)

CASH-OUT REFINANCE %                                12%        (maximum  17%)

PRIMARY RESIDENCE %                                 94%         (minimum 89%)

SINGLE-FAMILY DETACHED %                            88%         (minimum 85%)

FULL DOCUMENTATION %                                78%         (minimum 75%)

UNINSURED > 80% LTV %                                3%          (maximum 5%)

TEMPORARY BUYDOWNS                                   0%         (maximum  5%)

RELOCATION %                                        16%         (maximum 20%)

 THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY THE DESCRIPTION OF THE
    MORTGAGE LOANS CONTAINED IN THE PROSPECTUS SUPPLEMENT. SUCH INFORMATION
        SUPERSEDES THE INFORMATION IN ALL PRIOR COLLATERAL TERM SHEETS.
- --------------------------------------------------------------------------------
(1)  All dollar amounts are  approximate  and all percentages are expressed
     as approximate percentages of the Aggregate Principal Balance.


<PAGE>

- --------------------------------------------------------------------------------
                            NASCOR MORTGAGE LOAN POOL
                       10-YEAR THROUGH 15-YEAR FIXED RATE
                     NON-RELOCATION AND RELOCATION MORTGAGES
                              NASCOR SERIES 1999-27
                               PRICING INFORMATION

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


RATING AGENCIES                               TBD by Norwest

PASS THRU RATE                                         6.50%

ASSUMED SIZE OF PRINCIPAL ONLY CLASS                   0.84%

PRICING DATE                                             TBD

FINAL STRUCTURE DUE DATE                           03-Nov-99

SETTLEMENT DATE                                    23-Nov-99

ASSUMED SUB LEVELS                                       AAA            2.250%
                                                          AA            1.200%
                                                           A            0.850%
                                                         BBB            0.500%
                                                          BB            0.300%
                                                           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 1999-27.  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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