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Previous: GENESIS DIRECT INC, 10-Q, 1998-11-10 |
Next: NORWEST ASSET SEC CORP MORT PS THR CERT SER 1998-3 TRUST, 8-K, 1998-11-10 |
UNITED STATES
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 (Date of earliest event reported): October 26, 1998
NORWEST ASSET SECURITIES CORPORATION
Mortgage Pass-Through Certificates, Series 1998-4 Trust
New York (governing law of 33321263-25 52-2079989
Pooling and Servicing Agreement) (Commission 52-2079990
(State or other File Number) IRS EIN
jurisdiction
c/o Norwest Bank Minnesota, N.A.
11000 Broken Land Parkway 21044
Columbia, Maryland (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (410) 884-2000
(Former name or former address, if changed since last report)
ITEM 5. Other Events
On October 26, 1998 a distribution was made to holders of NORWEST ASSET
SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 1998-4
Trust.
ITEM 7. Financial Statements and Exhibits
(c) Exhibits furnished in accordance with Item 601(a) of Regulation S-K
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage
Pass-Through Certificates, Series 1998-4 Trust,
relating to the October 26, 1998 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 1998-4 Trust
By: Norwest Bank Minnesota, N.A., as Master Servicer
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 11/04/1998
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1998-4 Trust, relating to the October 26,
1998 distribution.
<TABLE>
<CAPTION>
Norwest Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 09/30/1998
Distribution Date: 10/26/1998
NASCOR Series: 1998-4
Contact: 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
Certificateholder Distribution Summary
Certificate Certificate Beginning
Class Pass-Through Certificate Interest Principal
Class CUSIP Description Rate Balance Distribution Distribution
<S> <C> <C> <C> <C> <C> <C>
IA1 66937NXT0 PAC 6.60000% 25,000,000.00 137,500.00 0.00
IA2 66937NXU7 PAC 6.35000% 38,756,000.00 205,083.83 0.00
IA3 66937NXV5 PAC 6.50000% 4,524,000.00 24,505.00 0.00
IA4 66937NXW3 IO 7.00000% 0.00 31,211.17 0.00
IA5 66937NXX1 SCH 7.00000% 39,543,530.56 230,670.59 2,616,626.66
IA6 66937NXY9 SCH 6.75000% 19,289,777.32 108,505.00 1,276,419.81
IA7 66937NXZ6 SCH 9.00000% 3,484,237.16 26,131.78 230,554.73
A8 66937NYA0 SCH 6.80000% 10,736,107.36 60,837.94 710,416.71
A9 66937NYB8 COMP 7.00000% 0.00 0.00 0.00
A10 66937NYC6 COMP 7.00000% 0.00 0.00 0.00
A11 66937NYD4 SEQ 7.00000% 347,813.37 2,028.91 -2,028.91
A12 66937NYE2 SEQ 7.00000% 22,000,000.00 128,333.33 0.00
AP1 NMB984APO PO 0.00000% 142,666.36 0.00 145.40
2A1 66937NYL6 SEQ 6.52000% 87,297,807.89 474,318.09 2,707,319.30
2A2 66937NYM4 SEQ 8.00000% 16,062,258.17 107,081.72 498,130.05
2A3 66937NYN2 SEQ 6.75000% 66,460,031.18 373,837.68 1,667,756.04
2A4 66937NYP7 SEQ 6.75000% 24,377,000.00 137,120.62 0.00
2A5 66937NYQ5 SEQ 6.75000% 14,300,000.00 80,437.50 0.00
2A6 66937NYR8 SEQ 6.75000% 29,919,000.00 168,294.38 0.10
1APO NMB984BPO PO 0.00000% 92,692.60 0.00 87.52
A-LR 66937NYG7 R 7.00000% 100.00 0.58 0.00
A-R 66937NYF9 R 7.00000% 100.00 0.58 0.00
1-M-1 66937NYH5 MEZ 7.00000% 2,485,590.99 14,499.28 2,030.21
M2 66937NYS1 MEZ 6.75000% 3,410,391.11 19,183.45 2,671.73
B1 66937NYJ1 SUB 7.00000% 2,683,364.93 15,652.96 2,191.75
B2 66937NYK8 SUB 7.00000% 1,094,017.82 6,381.77 893.58
B3 66937NZM3 SUB 7.00000% 834,824.64 4,869.81 681.88
B4 66937NZN1 SUB 7.00000% 298,151.66 1,739.22 243.53
B5 66937NZP6 SUB 7.00000% 557,020.67 3,031.05 0.00
2B1 66937NYT9 SUB 6.75000% 3,818,922.37 21,481.44 2,991.78
2B2 66937NYU6 SUB 6.75000% 1,363,758.85 7,671.14 1,068.38
2B3 66937NZQ4 SUB 6.75000% 955,227.59 5,373.16 748.33
2B4 66937NZR2 SUB 6.75000% 544,708.35 3,063.98 426.73
2B5 66937NZS0 SUB 6.75000% 819,347.91 4,608.83 478.59
Totals 421,198,448.86 2,403,454.79 9,719,853.90
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
IA1 0.00 25,000,000.00 137,500.00 0.00
IA2 0.00 38,756,000.00 205,083.83 0.00
IA3 0.00 4,524,000.00 24,505.00 0.00
IA4 0.00 0.00 31,211.17 0.00
IA5 0.00 36,926,903.90 2,847,297.25 0.00
IA6 0.00 18,013,357.52 1,384,924.81 0.00
IA7 0.00 3,253,682.43 256,686.51 0.00
A8 0.00 10,025,690.65 771,254.65 0.00
A9 0.00 0.00 0.00 0.00
A10 0.00 0.00 0.00 0.00
A11 0.00 349,842.28 0.00 0.00
A12 0.00 22,000,000.00 128,333.33 0.00
AP1 0.00 142,520.96 145.40 0.00
2A1 0.00 84,590,488.59 3,181,637.39 0.00
2A2 0.00 15,564,128.11 605,211.77 0.00
2A3 0.00 64,792,275.13 2,041,593.72 0.00
2A4 0.00 24,377,000.00 137,120.62 0.00
2A5 0.00 14,300,000.00 80,437.50 0.00
2A6 0.00 29,918,999.90 168,294.48 0.00
1APO 0.00 92,605.08 87.52 0.00
A-LR 0.00 100.00 0.58 0.00
A-R 0.00 100.00 0.58 0.00
1-M-1 0.00 2,483,560.78 16,529.49 0.00
M2 0.00 3,407,719.38 21,855.18 0.00
B1 0.00 2,681,173.18 17,844.71 0.00
B2 0.00 1,093,124.23 7,275.35 0.00
B3 0.00 834,142.77 5,551.69 0.00
B4 0.00 297,908.13 1,982.75 0.00
B5 454.97 556,565.70 3,031.05 762.01
2B1 0.00 3,815,930.59 24,473.22 0.00
2B2 0.00 1,362,690.46 8,739.52 0.00
2B3 0.00 954,479.25 6,121.49 0.00
2B4 0.00 544,281.62 3,490.71 0.00
2B5 163.30 818,706.02 5,087.42 2,820.19
Totals 618.27 411,477,976.66 12,123,308.69 3,582.20
<FN>
All distributions required by the Pooling and Servicing Agreement have been calculated by the
Certificate Administrator on behalf of the Trustee.
Edward M. Frere, Jr.
Vice President, Norwest Bank Minnesota, N.A.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal Realized
Class Amount Balance Distribution Distribution Accretion Loss (1)
<S> <C> <C> <C> <C> <C> <C>
IA1 25,000,000.00 25,000,000.00 0.00 0.00 0.00 0.00
IA2 38,756,000.00 38,756,000.00 0.00 0.00 0.00 0.00
IA3 4,524,000.00 4,524,000.00 0.00 0.00 0.00 0.00
IA4 0.00 0.00 0.00 0.00 0.00 0.00
IA5 48,075,000.00 39,543,530.56 72,398.05 2,544,228.61 0.00 0.00
IA6 23,834,000.00 19,289,777.32 35,316.58 1,241,103.23 0.00 0.00
IA7 4,343,000.00 3,484,237.16 6,379.10 224,175.63 0.00 0.00
A8 13,645,000.00 10,736,107.36 19,656.14 690,760.57 0.00 0.00
A9 7,512,000.00 0.00 0.00 0.00 0.00 0.00
A10 3,876,000.00 0.00 0.00 0.00 0.00 0.00
A11 332,000.00 347,813.37 0.00 0.00 -2,028.91 0.00
A12 22,000,000.00 22,000,000.00 0.00 0.00 0.00 0.00
AP1 143,813.67 142,666.36 136.41 8.99 0.00 0.00
2A1 101,161,000.00 87,297,807.89 103,764.22 2,603,555.08 0.00 0.00
2A2 18,613,000.00 16,062,258.17 19,091.98 479,038.08 0.00 0.00
2A3 75,000,000.00 66,460,031.18 63,920.57 1,603,835.47 0.00 0.00
2A4 24,377,000.00 24,377,000.00 0.00 0.00 0.00 0.00
2A5 14,300,000.00 14,300,000.00 0.00 0.00 0.00 0.00
2A6 29,919,000.00 29,919,000.00 0.00 0.10 0.00 0.00
1APO 94,016.24 92,692.60 83.84 3.68 0.00 0.00
A-LR 100.00 100.00 0.00 0.00 0.00 0.00
A-R 100.00 100.00 0.00 0.00 0.00 0.00
1-M-1 2,501,000.00 2,485,590.99 2,030.21 0.00 0.00 0.00
M2 3,431,000.00 3,410,391.11 2,671.72 0.01 0.00 0.00
B1 2,700,000.00 2,683,364.93 2,191.75 0.00 0.00 0.00
B2 1,100,800.00 1,094,017.82 893.58 0.00 0.00 0.00
B3 840,000.00 834,824.64 681.88 0.00 0.00 0.00
B4 300,000.00 298,151.66 243.53 0.00 0.00 0.00
B5 560,473.83 557,020.67 0.00 0.00 0.00 454.97
2B1 3,842,000.00 3,818,922.37 2,991.77 0.01 0.00 0.00
2B2 1,372,000.00 1,363,758.85 1,068.38 0.00 0.00 0.00
2B3 961,000.00 955,227.59 748.33 0.00 0.00 0.00
2B4 548,000.00 544,708.35 426.73 0.00 0.00 0.00
2B5 824,299.20 819,347.91 478.59 0.00 0.00 163.30
Totals 474,485,602.94 421,198,448.86 335,173.36 9,386,709.46 (2,028.91) 618.27
<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>
<TABLE>
<CAPTION>
Principal Distribution Statement (continued)
Total Ending Ending Total
Principal Certificate Certificate Principal
Class Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C>
IA1 0.00 25,000,000.00 1.00000000 0.00
IA2 0.00 38,756,000.00 1.00000000 0.00
IA3 0.00 4,524,000.00 1.00000000 0.00
IA4 0.00 0.00 0.00000000 0.00
IA5 2,616,626.66 36,926,903.90 0.76811033 2,616,626.66
IA6 1,276,419.81 18,013,357.52 0.75578407 1,276,419.81
IA7 230,554.73 3,253,682.43 0.74917855 230,554.73
A8 710,416.71 10,025,690.65 0.73475197 710,416.71
A9 0.00 0.00 0.00000000 0.00
A10 0.00 0.00 0.00000000 0.00
A11 (2,028.91) 349,842.28 1.05374181 (2,028.91)
A12 0.00 22,000,000.00 1.00000000 0.00
AP1 145.40 142,520.96 0.99101122 145.40
2A1 2,707,319.30 84,590,488.59 0.83619664 2,707,319.30
2A2 498,130.05 15,564,128.11 0.83619664 498,130.05
2A3 1,667,756.04 64,792,275.13 0.86389700 1,667,756.04
2A4 0.00 24,377,000.00 1.00000000 0.00
2A5 0.00 14,300,000.00 1.00000000 0.00
2A6 0.10 29,918,999.90 1.00000000 0.10
1APO 87.52 92,605.08 0.98499025 87.52
A-LR 0.00 100.00 1.00000000 0.00
A-R 0.00 100.00 1.00000000 0.00
1-M-1 2,030.21 2,483,560.78 0.99302710 2,030.21
M2 2,671.73 3,407,719.38 0.99321463 2,671.73
B1 2,191.75 2,681,173.18 0.99302710 2,191.75
B2 893.58 1,093,124.23 0.99302710 893.58
B3 681.88 834,142.77 0.99302711 681.88
B4 243.53 297,908.13 0.99302710 243.53
B5 454.97 556,565.70 0.99302710 0.00
2B1 2,991.78 3,815,930.59 0.99321463 2,991.78
2B2 1,068.38 1,362,690.46 0.99321462 1,068.38
2B3 748.33 954,479.25 0.99321462 748.33
2B4 426.73 544,281.62 0.99321464 426.73
2B5 641.89 818,706.02 0.99321462 478.59
Totals 9,720,472.17 411,477,976.66 0.86720856 9,719,853.90
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement
Original Beginning Scheduled Unscheduled
Face Certificate Principal Principal
Class (2) Amount Balance Distribution Distribution Accretion
<S> <C> <C> <C> <C> <C>
IA1 25,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
IA2 38,756,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
IA3 4,524,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
IA4 0.00 0.00000000 0.00000000 0.00000000 0.00000000
IA5 48,075,000.00 822.53833718 1.50593968 52.92207197 0.00000000
IA6 23,834,000.00 809.33864731 1.48177310 52.07280482 0.00000000
IA7 4,343,000.00 802.26506102 1.46882339 51.61769054 0.00000000
A8 13,645,000.00 786.81622279 1.44053793 50.62371345 0.00000000
A9 7,512,000.00 0.00000000 0.00000000 0.00000000 0.00000000
A10 3,876,000.00 0.00000000 0.00000000 0.00000000 0.00000000
A11 332,000.00 1047.63063253 0.00000000 0.00000000 -6.11117470
A12 22,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
AP1 143,813.67 992.02224656 0.94851901 0.06251144 0.00000000
2A1 101,161,000.00 862.95912348 1.02573343 25.73674717 0.00000000
2A2 18,613,000.00 862.95912373 1.02573363 25.73674743 0.00000000
2A3 75,000,000.00 886.13374907 0.85227427 21.38447293 0.00000000
2A4 24,377,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
2A5 14,300,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
2A6 29,919,000.00 1000.00000000 0.00000000 0.00000334 0.00000000
1APO 94,016.24 985.92115575 0.89176083 0.03914217 0.00000000
A-LR 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-R 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
1-M-1 2,501,000.00 993.83886046 0.81175930 0.00000000 0.00000000
M2 3,431,000.00 993.99332848 0.77870009 0.00000291 0.00000000
B1 2,700,000.00 993.83886296 0.81175926 0.00000000 0.00000000
B2 1,100,800.00 993.83886265 0.81175509 0.00000000 0.00000000
B3 840,000.00 993.83885714 0.81176190 0.00000000 0.00000000
B4 300,000.00 993.83886667 0.81176667 0.00000000 0.00000000
B5 560,473.83 993.83885596 0.00000000 0.00000000 0.00000000
2B1 3,842,000.00 993.99332900 0.77870120 0.00000260 0.00000000
2B2 1,372,000.00 993.99333090 0.77870262 0.00000000 0.00000000
2B3 961,000.00 993.99332986 0.77869927 0.00000000 0.00000000
2B4 548,000.00 993.99333942 0.77870438 0.00000000 0.00000000
2B5 824,299.20 993.99333397 0.58060229 0.00000000 0.00000000
<FN>
(2) Per $1,000 Denomination
</FN>
</TABLE>
<TABLE>
<CAPTION>
Principal Distribution Factors Statement (continued)
Total Ending Ending Total
Realized Principal Certificate Certificate Principal
Class Loss (3) Reduction Balance Percentage Distribution
<S> <C> <C> <C> <C> <C>
IA1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
IA2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
IA3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
IA4 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
IA5 0.00000000 54.42801165 768.11032553 0.76811033 54.42801165
IA6 0.00000000 53.55457791 755.78406982 0.75578407 53.55457791
IA7 0.00000000 53.08651393 749.17854709 0.74917855 53.08651393
A8 0.00000000 52.06425137 734.75197142 0.73475197 52.06425137
A9 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A10 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A11 0.00000000 -6.11117470 1,053.74180723 1.05374181 -6.11117470
A12 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
AP1 0.00000000 1.01103045 991.01121611 0.99101122 1.01103045
2A1 0.00000000 26.76248060 836.19664288 0.83619664 26.76248060
2A2 0.00000000 26.76248052 836.19664267 0.83619664 26.76248052
2A3 0.00000000 22.23674720 863.89700173 0.86389700 22.23674720
2A4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
2A5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
2A6 0.00000000 0.00000334 999.99999666 1.00000000 0.00000334
1APO 0.00000000 0.93090300 984.99025275 0.98499025 0.93090300
A-LR 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-R 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
1-M-1 0.00000000 0.81175930 993.02710116 0.99302710 0.81175930
M2 0.00000000 0.77870300 993.21462547 0.99321463 0.77870300
B1 0.00000000 0.81175926 993.02710370 0.99302710 0.81175926
B2 0.00000000 0.81175509 993.02709847 0.99302710 0.81175509
B3 0.00000000 0.81176190 993.02710714 0.99302711 0.81176190
B4 0.00000000 0.81176667 993.02710000 0.99302710 0.81176667
B5 0.81175958 0.81175958 993.02709638 0.99302710 0.00000000
2B1 0.00000000 0.77870380 993.21462520 0.99321463 0.77870380
2B2 0.00000000 0.77870262 993.21462099 0.99321462 0.77870262
2B3 0.00000000 0.77869927 993.21462019 0.99321462 0.77869927
2B4 0.00000000 0.77870438 993.21463504 0.99321464 0.77870438
2B5 0.19810768 0.77870996 993.21462401 0.99321462 0.58060229
<FN>
(3) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses
Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
IA1 25,000,000.00 6.60000% 25,000,000.00 137,500.00 0.00 0.00
IA2 38,756,000.00 6.35000% 38,756,000.00 205,083.83 0.00 0.00
IA3 4,524,000.00 6.50000% 4,524,000.00 24,505.00 0.00 0.00
IA4 0.00 7.00000% 5,350,485.71 31,211.17 0.00 0.00
IA5 48,075,000.00 7.00000% 39,543,530.56 230,670.59 0.00 0.00
IA6 23,834,000.00 6.75000% 19,289,777.32 108,505.00 0.00 0.00
IA7 4,343,000.00 9.00000% 3,484,237.16 26,131.78 0.00 0.00
A8 13,645,000.00 6.80000% 10,736,107.36 60,837.94 0.00 0.00
A9 7,512,000.00 7.00000% 0.00 0.00 0.00 0.00
A10 3,876,000.00 7.00000% 0.00 0.00 0.00 0.00
A11 332,000.00 7.00000% 347,813.37 2,028.91 0.00 0.00
A12 22,000,000.00 7.00000% 22,000,000.00 128,333.33 0.00 0.00
AP1 143,813.67 0.00000% 142,666.36 0.00 0.00 0.00
2A1 101,161,000.00 6.52000% 87,297,807.89 474,318.09 0.00 0.00
2A2 18,613,000.00 8.00000% 16,062,258.17 107,081.72 0.00 0.00
2A3 75,000,000.00 6.75000% 66,460,031.18 373,837.68 0.00 0.00
2A4 24,377,000.00 6.75000% 24,377,000.00 137,120.62 0.00 0.00
2A5 14,300,000.00 6.75000% 14,300,000.00 80,437.50 0.00 0.00
2A6 29,919,000.00 6.75000% 29,919,000.00 168,294.38 0.00 0.00
1APO 94,016.24 0.00000% 92,692.60 0.00 0.00 0.00
A-LR 100.00 7.00000% 100.00 0.58 0.00 0.00
A-R 100.00 7.00000% 100.00 0.58 0.00 0.00
1-M-1 2,501,000.00 7.00000% 2,485,590.99 14,499.28 0.00 0.00
M2 3,431,000.00 6.75000% 3,410,391.11 19,183.45 0.00 0.00
B1 2,700,000.00 7.00000% 2,683,364.93 15,652.96 0.00 0.00
B2 1,100,800.00 7.00000% 1,094,017.82 6,381.77 0.00 0.00
B3 840,000.00 7.00000% 834,824.64 4,869.81 0.00 0.00
B4 300,000.00 7.00000% 298,151.66 1,739.22 0.00 0.00
B5 560,473.83 7.00000% 557,020.67 3,249.29 0.00 218.23
2B1 3,842,000.00 6.75000% 3,818,922.37 21,481.44 0.00 0.00
2B2 1,372,000.00 6.75000% 1,363,758.85 7,671.14 0.00 0.00
2B3 961,000.00 6.75000% 955,227.59 5,373.16 0.00 0.00
2B4 548,000.00 6.75000% 544,708.35 3,063.98 0.00 0.00
2B5 824,299.20 6.75000% 819,347.91 4,608.83 0.00 0.00
Totals 474,485,602.94 2,403,673.03 0.00 218.23
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
IA1 0.00 0.00 137,500.00 0.00 25,000,000.00
IA2 0.00 0.00 205,083.83 0.00 38,756,000.00
IA3 0.00 0.00 24,505.00 0.00 4,524,000.00
IA4 0.00 0.00 31,211.17 0.00 5,350,485.71
IA5 0.00 0.00 230,670.59 0.00 36,926,903.90
IA6 0.00 0.00 108,505.00 0.00 18,013,357.52
IA7 0.00 0.00 26,131.78 0.00 3,253,682.43
A8 0.00 0.00 60,837.94 0.00 10,025,690.65
A9 0.00 0.00 0.00 0.00 0.00
A10 0.00 0.00 0.00 0.00 0.00
A11 0.00 0.00 2,028.91 0.00 349,842.28
A12 0.00 0.00 128,333.33 0.00 22,000,000.00
AP1 0.00 0.00 0.00 0.00 142,520.96
2A1 0.00 0.00 474,318.09 0.00 84,590,488.59
2A2 0.00 0.00 107,081.72 0.00 15,564,128.11
2A3 0.00 0.00 373,837.68 0.00 64,792,275.13
2A4 0.00 0.00 137,120.62 0.00 24,377,000.00
2A5 0.00 0.00 80,437.50 0.00 14,300,000.00
2A6 0.00 0.00 168,294.38 0.00 29,918,999.90
1APO 0.00 0.00 0.00 0.00 92,605.08
A-LR 0.00 0.00 0.58 0.00 100.00
A-R 0.00 0.00 0.58 0.00 100.00
1-M-1 0.00 0.00 14,499.28 0.00 2,483,560.78
M2 0.00 0.00 19,183.45 0.00 3,407,719.38
B1 0.00 0.00 15,652.96 0.00 2,681,173.18
B2 0.00 0.00 6,381.77 0.00 1,093,124.23
B3 0.00 0.00 4,869.81 0.00 834,142.77
B4 0.00 0.00 1,739.22 0.00 297,908.13
B5 0.00 0.00 3,031.05 218.23 556,565.70
2B1 0.00 0.00 21,481.44 0.00 3,815,930.59
2B2 0.00 0.00 7,671.14 0.00 1,362,690.46
2B3 0.00 0.00 5,373.16 0.00 954,479.25
2B4 0.00 0.00 3,063.98 0.00 544,281.62
2B5 0.00 0.00 4,608.83 0.00 818,706.02
Totals 0.00 0.00 2,403,454.79 218.23
<FN>
(4) Amount Does Not Include Excess Special Hazard, Bankrupcy, or Fraud Losses Unless Otherwise Disclosed.
Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement
Beginning Payment of
Original Current Certificate/ Current Unpaid Current
Face Certificate Notional Accrued Interest Interest
Class (5) Amount Rate Balance Interest Shortfall Shortfall
<S> <C> <C> <C> <C> <C> <C>
IA1 25,000,000.00 6.60000% 1000.00000000 5.50000000 0.00000000 0.00000000
IA2 38,756,000.00 6.35000% 1000.00000000 5.29166658 0.00000000 0.00000000
IA3 4,524,000.00 6.50000% 1000.00000000 5.41666667 0.00000000 0.00000000
IA4 0.00 7.00000% 1000.00000000 5.83333396 0.00000000 0.00000000
IA5 48,075,000.00 7.00000% 822.53833718 4.79814020 0.00000000 0.00000000
IA6 23,834,000.00 6.75000% 809.33864731 4.55253000 0.00000000 0.00000000
IA7 4,343,000.00 9.00000% 802.26506102 6.01698826 0.00000000 0.00000000
A8 13,645,000.00 6.80000% 786.81622279 4.45862514 0.00000000 0.00000000
A9 7,512,000.00 7.00000% 0.00000000 0.00000000 0.00000000 0.00000000
A10 3,876,000.00 7.00000% 0.00000000 0.00000000 0.00000000 0.00000000
A11 332,000.00 7.00000% 1047.63063253 6.11117470 0.00000000 0.00000000
A12 22,000,000.00 7.00000% 1000.00000000 5.83333318 0.00000000 0.00000000
AP1 143,813.67 0.00000% 992.02224656 0.00000000 0.00000000 0.00000000
2A1 101,161,000.00 6.52000% 862.95912348 4.68874458 0.00000000 0.00000000
2A2 18,613,000.00 8.00000% 862.95912373 5.75306076 0.00000000 0.00000000
2A3 75,000,000.00 6.75000% 886.13374907 4.98450240 0.00000000 0.00000000
2A4 24,377,000.00 6.75000% 1000.00000000 5.62499979 0.00000000 0.00000000
2A5 14,300,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
2A6 29,919,000.00 6.75000% 1000.00000000 5.62500017 0.00000000 0.00000000
1APO 94,016.24 0.00000% 985.92115575 0.00000000 0.00000000 0.00000000
A-LR 100.00 7.00000% 1000.00000000 5.80000000 0.00000000 0.00000000
A-R 100.00 7.00000% 1000.00000000 5.80000000 0.00000000 0.00000000
1-M-1 2,501,000.00 7.00000% 993.83886046 5.79739304 0.00000000 0.00000000
M2 3,431,000.00 6.75000% 993.99332848 5.59121247 0.00000000 0.00000000
B1 2,700,000.00 7.00000% 993.83886296 5.79739259 0.00000000 0.00000000
B2 1,100,800.00 7.00000% 993.83886265 5.79739281 0.00000000 0.00000000
B3 840,000.00 7.00000% 993.83885714 5.79739286 0.00000000 0.00000000
B4 300,000.00 7.00000% 993.83886667 5.79740000 0.00000000 0.00000000
B5 560,473.83 7.00000% 993.83885596 5.79739825 0.00000000 0.38936698
2B1 3,842,000.00 6.75000% 993.99332900 5.59121291 0.00000000 0.00000000
2B2 1,372,000.00 6.75000% 993.99333090 5.59120991 0.00000000 0.00000000
2B3 961,000.00 6.75000% 993.99332986 5.59121748 0.00000000 0.00000000
2B4 548,000.00 6.75000% 993.99333942 5.59120438 0.00000000 0.00000000
2B5 824,299.20 6.75000% 993.99333397 5.59121008 0.00000000 0.00000000
<FN>
(5) Per $1,000 Denomination
</FN>
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Factors Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (6) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
IA1 0.00000000 0.00000000 5.50000000 0.00000000 1000.00000000
IA2 0.00000000 0.00000000 5.29166658 0.00000000 1000.00000000
IA3 0.00000000 0.00000000 5.41666667 0.00000000 1000.00000000
IA4 0.00000000 0.00000000 5.83333396 0.00000000 1000.00000000
IA5 0.00000000 0.00000000 4.79814020 0.00000000 768.11032553
IA6 0.00000000 0.00000000 4.55253000 0.00000000 755.78406982
IA7 0.00000000 0.00000000 6.01698826 0.00000000 749.17854709
A8 0.00000000 0.00000000 4.45862514 0.00000000 734.75197142
A9 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A10 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A11 0.00000000 0.00000000 6.11117470 0.00000000 1053.74180723
A12 0.00000000 0.00000000 5.83333318 0.00000000 1000.00000000
AP1 0.00000000 0.00000000 0.00000000 0.00000000 991.01121611
2A1 0.00000000 0.00000000 4.68874458 0.00000000 836.19664288
2A2 0.00000000 0.00000000 5.75306076 0.00000000 836.19664267
2A3 0.00000000 0.00000000 4.98450240 0.00000000 863.89700173
2A4 0.00000000 0.00000000 5.62499979 0.00000000 1000.00000000
2A5 0.00000000 0.00000000 5.62500000 0.00000000 1000.00000000
2A6 0.00000000 0.00000000 5.62500017 0.00000000 999.99999666
1APO 0.00000000 0.00000000 0.00000000 0.00000000 984.99025275
A-LR 0.00000000 0.00000000 5.80000000 0.00000000 1000.00000000
A-R 0.00000000 0.00000000 5.80000000 0.00000000 1000.00000000
1-M-1 0.00000000 0.00000000 5.79739304 0.00000000 993.02710116
M2 0.00000000 0.00000000 5.59121247 0.00000000 993.21462547
B1 0.00000000 0.00000000 5.79739259 0.00000000 993.02710370
B2 0.00000000 0.00000000 5.79739281 0.00000000 993.02709847
B3 0.00000000 0.00000000 5.79739286 0.00000000 993.02710714
B4 0.00000000 0.00000000 5.79740000 0.00000000 993.02710000
B5 0.00000000 0.00000000 5.40801343 0.38936698 993.02709638
2B1 0.00000000 0.00000000 5.59121291 0.00000000 993.21462520
2B2 0.00000000 0.00000000 5.59120991 0.00000000 993.21462099
2B3 0.00000000 0.00000000 5.59121748 0.00000000 993.21462019
2B4 0.00000000 0.00000000 5.59120438 0.00000000 993.21463504
2B5 0.00000000 0.00000000 5.59121008 0.00000000 993.21462401
<FN>
(6) Amount Does Not Include Excess Special Hazard, Bankrupcy,or Fraud Losses Unless
Otherwise Disclosed. Please Refer to the Prospectus Supplement for a Full Description.
</FN>
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notational Notational Component Component Component
Class Rate Balance Balance Balance Balance
<S> <C> <C> <C> <C> <C> <C>
IA7 COMP A 9.00000% 0.00 0.00 1,073,217.33 1,002,201.69 73.47519721%
IA7 COMP B 9.00000% 0.00 0.00 2,411,019.83 2,251,480.74 75.57840685%
A9 GROUP 1 7.00000% 0.00 0.00 0.00 0.00 0.00000000%
A9 GROUP 2 7.00000% 0.00 0.00 0.00 0.00 0.00000000%
A9 GROUP 3 7.00000% 0.00 0.00 0.00 0.00 0.00000000%
A10 GROUP 1 7.00000% 0.00 0.00 0.00 0.00 0.00000000%
A10 GROUP 2 7.00000% 0.00 0.00 0.00 0.00 0.00000000%
A10 GROUP 3 7.00000% 0.00 0.00 0.00 0.00 0.00000000%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 723.21
Deposits
Payments of Interest and Principal 12,074,280.19
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 131,987.64
Realized Losses 0.00
Total Deposits 12,206,267.83
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 83,682.31
Payment of Interest and Principal 12,123,308.70
Total Withdrawals (Pool Distribution Amount) 12,206,991.01
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 9,656.60
Servicing Fee Support 9,656.60
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 87,724.54
Master Servicing Fee 5,614.37
Supported Prepayment/Curtailment Interest Shortfall 9,656.60
Net Servicing Fee 83,682.31
</TABLE>
<TABLE>
<CAPTION>
DELINQUENCY STATUS
Percentage Delinquent
Based On
Current Unpaid
Number Principal Number Unpaid
Of Loans Balance Of Loans Balance
<S> <C> <C> <C> <C>
30 Days 8 2,042,250.79 0.568182% 0.496321%
60 Days 1 390,213.69 0.071023% 0.094832%
90+ Days 1 281,091.22 0.071023% 0.068313%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 10 2,713,555.70 0.710227% 0.659466%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 618.27
Cumulative Realized Losses - Includes Interest Shortfall 3,582.20
Principal Balance of Contaminated Properties 0.00
Periodic Advance 795,646.14
</TABLE>
<TABLE>
<CAPTION>
CREDIT ENHANCEMENT
Original $ Original % Current $ Current %
<S> <C> <C> <C> <C>
Bankruptcy 0.00 0.00000000% 100,000.00 0.02430264%
Fraud 0.00 0.00000000% 9,489,712.06 2.30625030%
Special Hazard 0.00 0.00000000% 5,651,155.16 1.37337974%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Fixed 30 Year
Weighted Average Gross Coupon 7.687911%
Weighted Average Pass-Through Rate 0.000000%
Weighted Average Maturity(Stepdown Calculation ) 270
Begin Scheduled Collateral Loan Count 1,439
Number Of Loans Paid In Full 31
End Scheduled Collateral Loan Count 1,408
Begining Scheduled Collateral Balance 421,198,448.84
Ending Scheduled Collateral Balance 411,477,976.68
Ending Actual Collateral Balance at 30-Sep-1998 415,324,546.90
Ending Scheduled Balance For Norwest 334,986,582.84
Ending Scheduled Balance For Other Services 76,491,393.84
Monthly P &I Constant 2,838,429.08
Class A Optimal Amount 12,001,093.20
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 397,088,816.77
Ending scheduled Balance For discounted Loans 14,389,159.91
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 339,454,364.56
Greater Than 80%, less than or equal to 85% 7,384,326.48
Greater than 85%, less than or equal to 95% 64,722,041.45
Greater than 95% 0.00
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
</TABLE>
<TABLE>
<CAPTION>
Group Level Collateral Statement
<S> <C>
Group ID 1 2
Collateral Description Fixed 30 Year Fixed 30 Year
Weighted Average Coupon Rate 7.722673 7.663988
Weighted Average Net Rate 6.994597 6.747493
Weighted Average Maturity 348.00 349.00
Begining Loan Count 603.00 836.00
Loans Paid In Full 16.00 15.00
Ending Loan Count 587.00 821.00
Begining Scheduled Balance 171,777,302.84 249,421,146.00
Ending Scheduled Balance 166,938,672.54 244,539,304.14
Record Date 09/30/98 09/30/98
Principal And Interest Constant 1,182,069.08 1,656,360.00
Scheduled Principal 140,326.05 195,409.42
Unscheduled Principal 4,698,304.25 4,686,432.44
Scheduled Interest 1,038,608.18 1,457,761.07
Sevicing Fee 35,761.80 51,962.74
Master Servicing Fee 2,288.76 3,325.61
FRY Amount 66,098.63 135,205.96
Net Interest 934,458.99 1,267,266.76
</TABLE>
<TABLE>
<CAPTION> Delinquency Status By Groups
<S> <C>
Groups 30 Days 60 Days 90 + Days
Number Balance Number Balance Number Balance
1 2 383,047.33 1 390,213.69 0 0.00 0
2 6 1,659,203.46 0 0.00 1 281,091.22 0
Total 8 $2,042,250.79 1 $390,213.69 1 $281,091.22 0
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
Groups Foreclosure REO Bankruptcy
1 0 0 0
2 0 0 0
</TABLE>
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