|
|
|
|
|
|
|
|
|
|
Previous: NORWEST ASSET SECS CORP MORT PAS THR CERT SER 1997-05 TR, 8-K, 1997-09-08 |
Next: NORWEST ASSET SECURITIES CORP MORT PASS THRO CERT SER 1997-8, 8-K, 1997-09-08 |
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 25, 1997
(Date of earliest event reported)
Commission File No.: 333-21263-01
Norwest Asset Securities Corporation,
Mortgage Pass-Through Certificates, Series 1997-4 Trust
New York (governing law of Pooling and Servicing Agreement)
(State of Incorporation)
52-2029551
52-2029554
(I.R.S. Employer Identification No.)
7485 New Horizon Way
Frederick, Maryland 21703
(Address of principal executive offices) (Zip Code)
(301) 696-7900
Registrant's Full Telephone Number
(Former name, former address and former fiscal year,
if changed since last report)
<PAGE>
ITEM 5. Other Events
On August 25, 1997 a distribution was made to holders of
Norwest Asset Securities Corporation,
Mortgage Pass-Through Certificates, Series 1997-4 Trust.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits
Item 601(a) of
Regulation S-K
Exhibit Number Description
(EX-99.1) Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1997-4 Trust, relating to the August
25,1997 distribution
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,
Mortgage Pass-Through Certificates, Series 1997-4 Trust
August 28, 1997 by Norwest Bank Minnesota, N.A., as Master Servicer
/s/ Sherri J. Sharps, Vice President
INDEX TO EXHIBITS
Exhibit Number Description
(EX-99.1) Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1997-4 Trust, relating to the August
25,1997 distribution
<TABLE>
<CAPTION>
Norwest Asset Securities Corporation
Mortgage Pass-Through Certificates
Statements to Certificateholders
Record Date: 31-Jul-1997
Distribution Date: 25-Aug-1997
NASCOR Series 1997-4
Customer Service
Norwest Bank Minnesota, N.A.
Securities Administration Services
7485 New Horizon Way
Frederick, MD 21703
Telephone:(301) 846-8130
Fax:(301) 846-8152
CERTIFICATE INFORMATION
Certificate Original Ending Ending
Pass-Through Face Certificate Certificate
Class CUSIP Rate Amount Balance Percentage
<S> <C> <C> <C> <C> <C>
A-1 66937NLF3 7.25000 19,324,000.00 19,324,000.00 1.00000000
A-2 66937NLG1 7.50000 20,000,000.00 19,208,577.08 0.96042885
A-3 66937NLH9 7.50000 3,008,000.00 1,463,367.73 0.48649193
A-4 66937NLJ5 7.50000 4,500,000.00 2,852,480.20 0.63388449
A-5 66937NLK2 7.50000 60,439,000.00 60,439,000.00 1.00000000
A-6 66937NLL0 7.50000 31,016,000.00 27,749,151.29 0.89467215
A-7 66937NLM8 7.50000 11,496,000.00 11,496,000.00 1.00000000
A-8 66937NLN6 7.50000 29,702,000.00 29,702,000.00 1.00000000
A-9 66937NLP1 0.00000 298,000.00 298,000.00 1.00000000
A-10 66937NLQ9 0.25000 0.00 0.00 0.00000000
A-11 66937NLR7 7.50000 32,000,000.00 32,000,000.00 1.00000000
A-12 66937NLS5 7.50000 3,000,000.00 3,000,000.00 1.00000000
AWIO NMB9704IO 0.34992 0.00 0.00 0.00000000
A-R 66937NLU0 7.50000 100.00 100.00 1.00000000
A-LR 66937NLV8 7.50000 100.00 100.00 1.00000000
APO 66937NLT3 0.00000 1,256,218.72 1,230,254.75 0.97933165
M 66937NLW6 7.50000 2,813,000.00 2,803,034.19 0.99645723
B-1 66937NLX4 7.50000 3,488,000.00 3,475,642.82 0.99645723
B-2 66937NLY2 7.50000 900,000.00 896,811.51 0.99645723
B-3 66937NLZ9 7.50000 788,000.00 785,208.30 0.99645723
B-4 66937NMA3 7.50000 450,000.00 448,405.75 0.99645722
B-5 66937NMB1 7.50000 562,882.22 560,888.11 0.99645732
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
PRINCIPAL DISTRIBUTION
Scheduled Unscheduled
Principal Principal Deferred Realized Principal
Class Distribution Distribution Accretion Interest Loss (1) Distribution
<S> <C> <C> <C> <C> <C> <C>
A-1 0.00 0.00 0.00 0.00 0.00 0.00
A-2 20,305.40 185,360.07 0.00 0.00 0.00 205,665.47
A-3 29,495.74 269,255.07 (10,944.84) 0.00 0.00 287,805.98
A-4 34,360.53 313,663.78 0.00 0.00 0.00 348,024.31
A-5 0.00 0.00 0.00 0.00 0.00 0.00
A-6 68,133.11 621,960.42 0.00 0.00 0.00 690,093.53
A-7 0.00 0.00 0.00 0.00 0.00 0.00
A-8 0.00 0.00 0.00 0.00 0.00 0.00
A-9 0.00 0.00 0.00 0.00 0.00 0.00
A-10 0.00 0.00 0.00 0.00 0.00 0.00
A-11 0.00 0.00 0.00 0.00 0.00 0.00
A-12 0.00 0.00 0.00 0.00 0.00 0.00
AWIO 0.00 0.00 0.00 0.00 0.00 0.00
A-R 0.00 0.00 0.00 0.00 0.00 0.00
A-LR 0.00 0.00 0.00 0.00 0.00 0.00
APO 1,044.17 342.56 0.00 0.00 0.00 1,386.73
M 2,028.87 0.00 0.00 0.00 0.00 2,028.87
B-1 2,515.72 0.00 0.00 0.00 0.00 2,515.72
B-2 649.12 0.00 0.00 0.00 0.00 649.12
B-3 568.34 0.00 0.00 0.00 0.00 568.34
B-4 324.56 0.00 0.00 0.00 0.00 324.56
B-5 405.98 0.00 0.00 0.00 0.00 405.98
<FN>
(1) Amount Does Not Include Excess Special Hazard, Bankruptcy, Or Fraud Losses Unless Otherwise Disclosed.
Please Refer To The Prospectus Supplement For A Full Description.
</FN>
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
INTEREST DISTRIBUTION
Payment
Current Of Previously Current Non-Supported
Accrued Deferred Unpaid Interest Interest Interest
Class Interest Interest Shortfall Shortfall Shortfall
<S> <C> <C> <C> <C> <C>
A-1 116,749.17 0.00 0.00 0.00 0.00
A-2 121,339.02 0.00 0.00 0.00 0.00
A-3 10,944.84 0.00 0.00 0.00 0.00
A-4 20,003.15 0.00 0.00 0.00 0.00
A-5 377,743.75 0.00 0.00 0.00 0.00
A-6 177,745.28 0.00 0.00 0.00 0.00
A-7 71,850.00 0.00 0.00 0.00 0.00
A-8 185,637.50 0.00 0.00 0.00 0.00
A-9 0.00 0.00 0.00 0.00 0.00
A-10 4,025.83 0.00 0.00 0.00 0.00
A-11 200,000.00 0.00 0.00 0.00 0.00
A-12 18,750.00 0.00 0.00 0.00 0.00
AWIO 44,944.59 0.00 0.00 0.00 0.00
A-R 0.62 0.00 0.00 0.00 0.00
A-LR 0.62 0.00 0.00 0.00 0.00
APO 0.00 0.00 0.00 0.00 0.00
M 17,531.64 0.00 0.00 0.00 0.00
B-1 21,738.49 0.00 0.00 0.00 0.00
B-2 5,609.13 0.00 0.00 0.00 0.00
B-3 4,911.10 0.00 0.00 0.00 0.00
B-4 2,804.56 0.00 0.00 0.00 0.00
B-5 3,508.09 0.00 0.00 0.00 0.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
INTEREST DISTRIBUTION
Remaining Ending
Cumulative Unpaid Certificate/Notional Realized Interest
Class Interest Shortfall Balance Losses (2) Distribution
<S> <C> <C> <C> <C>
A-1 0.00 19,324,000.00 0.00 116,749.17
A-2 0.00 19,208,577.08 0.00 121,339.02
A-3 0.00 1,463,367.73 0.00 10,944.84
A-4 0.00 2,852,480.20 0.00 20,003.15
A-5 0.00 60,439,000.00 0.00 377,743.75
A-6 0.00 27,749,151.29 0.00 177,745.28
A-7 0.00 11,496,000.00 0.00 71,850.00
A-8 0.00 29,702,000.00 0.00 185,637.50
A-9 0.00 298,000.00 0.00 0.00
A-10 0.00 19,324,000.00 0.00 4,025.83
A-11 0.00 32,000,000.00 0.00 200,000.00
A-12 0.00 3,000,000.00 0.00 18,750.00
AWIO 0.00 152,669,436.58 0.00 44,944.59
A-R 0.00 100.00 0.00 0.62
A-LR 0.00 100.00 0.00 232.57
APO 0.00 1,230,254.75 0.00 0.00
M 0.00 2,803,034.19 0.00 17,531.64
B-1 0.00 3,475,642.82 0.00 21,738.49
B-2 0.00 896,811.51 0.00 5,609.13
B-3 0.00 785,208.30 0.00 4,911.10
B-4 0.00 448,405.75 0.00 2,804.56
B-5 0.00 560,888.11 0.00 3,508.09
<FN>
(2) Amount Does Not Include Excess Special Hazard, Bankruptcy, Or Fraud Losses Unless Otherwise Disclosed.
Please Refer To The Prospectus Supplement For A Full Description.
</FN>
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
PREPAYMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment Interest Shortfall 143.83
Servicing Fee Support 143.83
Non-Supported Prepayment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 45,681.30
Master Servicing Fee 2,923.60
Supported Prepayment/Curtailment Interest Shortfall 143.83
Net Servicing Fees 48,461.07
</TABLE>
<TABLE>
<CAPTION>
SERVICER ADVANCES
<S> <C>
Beginning Balance 15,092.74
Current Period Advances By Servicer 125,504.00
Reimbursement of Advances 15,092.74
Ending Cumulative Advances 125,504.00
</TABLE>
<TABLE>
<CAPTION>
DELINQUENCY STATUS
Current Unpaid
Number of Number Of Principal
Days Loans Balance
<S> <C> <C>
30 Days 2 543,164.72
60 Days 0 0.00
90+ Days 1 303,683.37
Foreclosure 0 0.00
REO 0 0.00
Totals 3 846,848.09
</TABLE>
<TABLE>
<CAPTION>
ADDITIONAL DELINQUENCY STATUS INFORMATION
<S> <C>
Principal Balance of Contaminated Properties 0.00
Periodic Advance 750,779.95
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 745.02
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Mixed Fixed Ratio Strip
Weighted Average Gross Coupon 7.972321%
Weighted Average Pass-Through Rate 7.500000%
Weighted Average Maturity (Stepdown Calculation) 352 Months
Beginning Scheduled Collateral Loan Count 719
Number of Loans Paid in Full 3
Ending Scheduled Collateral Loan Count 716
Beginning Scheduled Collateral Balance 219,272,490.36
Ending Scheduled Collateral Balance 217,733,021.74
Ending Actual Collateral Balance at 31-Jul-1997 218,676,019.70
Monthly P&I Constant 1,616,384.63
Class AP Deferred Amount 0.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
CREDIT ENHANCEMENT
Loss Description Original $ Original % Current $ Current %
<S> <C> <C> <C> <C>
Bankruptcy 100,000.00 0.04443629% 100,000.00 0.04592781%
Fraud 4,500,826.02 2.00000000% 4,500,826.02 2.06713065%
Special Hazard 2,250,413.01 1.00000000% 2,250,413.01 1.03356532%
<FN>
Limit of Subordination's Exposure for 100% of Certain Types of Losses
</FN>
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
SUBORDINATION LEVEL
Class Original $ Original % Current $ Current %
<S> <C> <C> <C> <C>
A 9,001,882.22 4.00010228% 8,969,990.68 4.11971993%
M 6,188,882.22 2.75010951% 6,166,956.49 2.83234782%
B-1 2,700,882.22 1.20017179% 2,691,313.67 1.23606132%
B-2 1,800,882.22 0.80024520% 1,794,502.16 0.82417547%
B-3 1,012,882.22 0.45008726% 1,009,293.86 0.46354653%
B-4 562,882.22 0.25012396% 560,888.11 0.25760360%
B-5 0.00 0.00000000% 0.00 0.00000000%
<FN>
Please refer to the Prospectus Supplement For A Full Description Of Loss Exposure
</FN>
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
OTHER ACCOUNTS
Account Beginning Current Period Current Period Ending
Type Balance Withdrawals Deposits Balance
<S> <C> <C> <C> <C>
A-8 Financial Guaranty 0.00 0.00 1,856.38 0.00
A-8 Reserve Fund 5,000.00 0.00 0.00 5,000.00
A-8 Reserve Fund - Rounding 999.99 0.00 0.00 999.99
</TABLE>
<PAGE>
|
|