WELLS FARGO ASSET SECURITIES CORP
8-K, 2000-07-20
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:  July 19, 2000
(Date of earliest event reported)

Commission File No. 333-65481



                    Wells Fargo 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



                      Norwest Asset Securities Corporation
--------------------------------------------------------------------------------
              (Former name, former address and former fiscal year,
                          if changed since last report)


<PAGE>




Item 5.  Other Events
-------  ------------

Documents incorporated by Reference

The consolidated financial statements of Ambac Assurance Corporation and
subsidiaries as of December 31, 1999 and December 31, 1998, and for each of the
years in the three-year period ended December 31, 1999, included in the Annual
Report on Form 10-K of Ambac Financial Group, Inc. (which was filed with the
Securities and Exchange Commission on March 30, 2000) and the unaudited
consolidated financial statements of Ambac Assurance Corporation and its
subsidiaries as of March 31, 2000, and for periods ended March 31, 2000 and
March 31, 1999, included in the Quarterly Report on Form 10-Q of Ambac Financial
Group, Inc. for the period ended March 31, 2000 (which was filed with the
Securities and Exchange Commission on May 12, 2000) are hereby incorporated by
reference in (i) this Current Report on Form 8-K; (ii) the registration
statement (No. 333-65481) of the Registrant; and (iii) the Prospectus Supplement
and Prospectus relating to Wells Fargo Securities Corporation Mortgage
Pass-Through Certificates, Series 2000-4, and shall be deemed to be part hereof
and thereof.


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

              (c) Exhibits

Item 601(a)
of Regulation S-K
Exhibit No.                                     Description
-----------------                               -----------
(EX-23)                             Consent of KPMG LLP, independent certified
                                    public accountants of Ambac Assurance
                                    Corporation and subsidiaries in connection
                                    with Wells Fargo Securities Corporation,
                                    Mortgage Pass-Through Certificates, Series
                                    2000-4


<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.


                                   WELLS FARGO ASSET SECURITIES
                                   CORPORATION

July 19, 2000

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


<PAGE>





                                INDEX TO EXHIBITS

                                                                   Paper (P) or
Exhibit No.             Description                               Electronic (E)
-----------             -----------                               --------------

(EX-23)                 Consent of KPMG LLP,                            E
                        independent certified
                        public accountants of Ambac
                        Assurance Corporation and
                        subsidiaries in connection
                        with Wells Fargo Asset Securities
                        Corporation, Mortgage Pass-Through
                        Certificates, Series 2000-4



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