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): June 25, 1998
NORWEST ASSET SECURITIES CORPORATION
Mortgage Pass-Through Certificates, Series 1998-12 Trust
New York (governing law of 333-45021-07 52-2106316
Pooling and Servicing Agreement) (Commission IRS EIN
(State or other File Number)
jurisdiction
c/o Norwest Bank Minnesota, N.A.
7485 New Horizon Way 21703
Frederick, Maryland (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (301) 696-7900
Former name or former address, if changed since last report)
ITEM 5. Other Events
On June 25, 1998 a distribution was made to holders of NORWEST ASSET
SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 1998-12
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 1998-12 Trust,
relating to the June 25, 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 1998-12 Trust
By: Norwest Bank Minnesota, N.A., as Master Servicer
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 7/3/1998
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1998-12 Trust, relating to the June 25,
1998 distribution.
<TABLE>
<CAPTION>
Norwest Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 5/29/1998
Distribution Date: 6/25/1998
NASCOR Series: 1998-12
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>
A-1 66937NP44 SEQ 6.75000% 40,000,000.00 225,000.00 271,026.29
A-2 66937NP51 SEQ 6.75000% 25,000,000.00 140,625.00 337,361.25
A-3 66937NP69 SEQ 6.75000% 260,000,000.00 1,462,500.00 2,568,017.50
A-4 66937NP77 SEQ 6.75000% 120,880,000.00 679,950.00 1,144,708.15
A-5 66937NP85 SEQ 6.75000% 50,000,000.00 281,250.00 440,913.40
A-6 66937NP93 SEQ 6.75000% 60,000,000.00 337,500.00 436,254.26
A-7 66937NQ27 SEQ 6.75000% 10,625,000.00 59,765.62 0.00
A-8 66937NQ35 SEQ 6.75000% 7,740,000.00 43,537.50 0.00
A-9 66937NQ43 SEQ 6.75000% 84,254,000.00 473,928.75 0.00
A-10 66937NQ50 SEQ 6.75000% 32,915,160.00 185,147.77 0.00
A-11 66937NQ68 SEQ 6.75000% 75,800,000.00 426,375.00 0.00
A-R 66937NQ76 R 6.75000% 100.00 0.56 100.00
APO NMB9812PO PO 0.00000% 589,739.45 0.00 590.56
B-1 66937NQ84 SUB 6.75000% 12,811,000.00 72,061.88 9,840.86
B-2 66937NQ92 SUB 6.75000% 10,408,000.00 58,545.00 7,994.98
B-3 66937NR26 SUB 6.75000% 3,603,000.00 20,266.88 2,767.67
B-4 66937NT32 SUB 6.75000% 2,401,000.00 13,505.62 1,844.35
B-5 66937NT40 SUB 6.75000% 1,602,000.00 9,011.25 1,230.59
B-6 66937NT57 SUB 6.75000% 2,001,786.63 11,260.05 1,298.16
Totals 800,630,786.08 4,500,230.88 5,223,948.02
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
A-1 0.00 39,728,973.71 496,026.29 0.00
A-2 0.00 24,662,638.75 477,986.25 0.00
A-3 0.00 257,431,982.50 4,030,517.50 0.00
A-4 0.00 119,735,291.85 1,824,658.15 0.00
A-5 0.00 49,559,086.60 722,163.40 0.00
A-6 0.00 59,563,745.74 773,754.26 0.00
A-7 0.00 10,625,000.00 59,765.62 0.00
A-8 0.00 7,740,000.00 43,537.50 0.00
A-9 0.00 84,254,000.00 473,928.75 0.00
A-10 0.00 32,915,160.00 185,147.77 0.00
A-11 0.00 75,800,000.00 426,375.00 0.00
A-R 0.00 0.00 100.56 0.00
APO 0.00 589,148.89 590.56 0.00
B-1 0.00 12,801,159.14 81,902.74 0.00
B-2 0.00 10,400,005.02 66,539.98 0.00
B-3 0.00 3,600,232.33 23,034.55 0.00
B-4 0.00 2,399,155.65 15,349.97 0.00
B-5 0.00 1,600,769.41 10,241.84 0.00
B-6 239.53 2,000,248.98 12,558.21 239.53
Totals 239.53 795,406,598.57 9,724,178.90 239.53
<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>
A-1 40,000,000.00 40,000,000.00 30,726.28 240,300.01 0.00 0.00
A-2 25,000,000.00 25,000,000.00 38,246.69 299,114.56 0.00 0.00
A-3 260,000,000.00 260,000,000.00 291,136.45 2,276,881.05 0.00 0.00
A-4 120,880,000.00 120,880,000.00 129,775.70 1,014,932.45 0.00 0.00
A-5 50,000,000.00 50,000,000.00 49,986.40 390,926.99 0.00 0.00
A-6 60,000,000.00 60,000,000.00 49,458.20 386,796.06 0.00 0.00
A-7 10,625,000.00 10,625,000.00 0.00 0.00 0.00 0.00
A-8 7,740,000.00 7,740,000.00 0.00 0.00 0.00 0.00
A-9 84,254,000.00 84,254,000.00 0.00 0.00 0.00 0.00
A-10 32,915,160.00 32,915,160.00 0.00 0.00 0.00 0.00
A-11 75,800,000.00 75,800,000.00 0.00 0.00 0.00 0.00
A-R 100.00 100.00 11.34 88.66 0.00 0.00
APO 589,739.45 589,739.45 526.87 63.70 0.00 0.00
B-1 12,811,000.00 12,811,000.00 9,840.86 0.00 0.00 0.00
B-2 10,408,000.00 10,408,000.00 7,994.98 0.00 0.00 0.00
B-3 3,603,000.00 3,603,000.00 2,767.67 0.00 0.00 0.00
B-4 2,401,000.00 2,401,000.00 1,844.35 0.00 0.00 0.00
B-5 1,602,000.00 1,602,000.00 1,230.59 0.00 0.00 0.00
B-6 2,001,786.63 2,001,786.63 1,298.16 0.00 0.00 239.53
Totals 800,630,786.08 800,630,786.08 614,844.54 4,609,103.48 0.00 239.53
<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>
A-1 271,026.29 39,728,973.71 0.99322434 271,026.29
A-2 337,361.25 24,662,638.75 0.98650555 337,361.25
A-3 2,568,017.50 257,431,982.50 0.99012301 2,568,017.50
A-4 1,144,708.15 119,735,291.85 0.99053021 1,144,708.15
A-5 440,913.40 49,559,086.60 0.99118173 440,913.40
A-6 436,254.26 59,563,745.74 0.99272910 436,254.26
A-7 0.00 10,625,000.00 1.00000000 0.00
A-8 0.00 7,740,000.00 1.00000000 0.00
A-9 0.00 84,254,000.00 1.00000000 0.00
A-10 0.00 32,915,160.00 1.00000000 0.00
A-11 0.00 75,800,000.00 1.00000000 0.00
A-R 100.00 0.00 0.00000000 100.00
APO 590.56 589,148.89 0.99899861 590.56
B-1 9,840.86 12,801,159.14 0.99923184 9,840.86
B-2 7,994.98 10,400,005.02 0.99923184 7,994.98
B-3 2,767.67 3,600,232.33 0.99923184 2,767.67
B-4 1,844.35 2,399,155.65 0.99923184 1,844.35
B-5 1,230.59 1,600,769.41 0.99923184 1,230.59
B-6 1,537.69 2,000,248.98 0.99923186 1,298.16
Totals 5,224,187.55 795,406,598.57 0.99347491 5,223,948.02
</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>
A-1 40,000,000.00 1000.00000000 0.76815700 6.00750025 0.00000000
A-2 25,000,000.00 1000.00000000 1.52986760 11.96458240 0.00000000
A-3 260,000,000.00 1000.00000000 1.11975558 8.75723481 0.00000000
A-4 120,880,000.00 1000.00000000 1.07359116 8.39619830 0.00000000
A-5 50,000,000.00 1000.00000000 0.99972800 7.81853980 0.00000000
A-6 60,000,000.00 1000.00000000 0.82430333 6.44660100 0.00000000
A-7 10,625,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-8 7,740,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-9 84,254,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-10 32,915,160.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-11 75,800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-R 100.00 1000.00000000 113.40000000 886.60000000 0.00000000
APO 589,739.45 1000.00000000 0.89339453 0.10801380 0.00000000
B-1 12,811,000.00 1000.00000000 0.76815705 0.00000000 0.00000000
B-2 10,408,000.00 1000.00000000 0.76815719 0.00000000 0.00000000
B-3 3,603,000.00 1000.00000000 0.76815709 0.00000000 0.00000000
B-4 2,401,000.00 1000.00000000 0.76815910 0.00000000 0.00000000
B-5 1,602,000.00 1000.00000000 0.76815855 0.00000000 0.00000000
B-6 2,001,786.63 1000.00000000 0.64850068 0.00000000 0.00000000
<FN>
(2)Per $1,000 Denomination, except Class A-R, which is Per $100 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>
A-1 0.00000000 6.77565725 993.22434275 0.99322434 6.77565725
A-2 0.00000000 13.49445000 986.50555000 0.98650555 13.49445000
A-3 0.00000000 9.87699038 990.12300962 0.99012301 9.87699038
A-4 0.00000000 9.46978946 990.53021054 0.99053021 9.46978946
A-5 0.00000000 8.81826800 991.18173200 0.99118173 8.81826800
A-6 0.00000000 7.27090433 992.72909567 0.99272910 7.27090433
A-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-10 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-11 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-R 0.00000000 1000.00000000 0.00000000 0.00000000 1000.00000000
APO 0.00000000 1.00139138 998.99860862 0.99899861 1.00139138
B-1 0.00000000 0.76815705 999.23184295 0.99923184 0.76815705
B-2 0.00000000 0.76815719 999.23184281 0.99923184 0.76815719
B-3 0.00000000 0.76815709 999.23184291 0.99923184 0.76815709
B-4 0.00000000 0.76815910 999.23184090 0.99923184 0.76815910
B-5 0.00000000 0.76815855 999.23184145 0.99923184 0.76815855
B-6 0.11965811 0.76815879 999.23186119 0.99923186 0.64850068
<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>
A-1 40,000,000.00 6.75000% 40,000,000.00 225,000.00 0.00 0.00
A-2 25,000,000.00 6.75000% 25,000,000.00 140,625.00 0.00 0.00
A-3 260,000,000.00 6.75000% 260,000,000.00 1,462,500.00 0.00 0.00
A-4 120,880,000.00 6.75000% 120,880,000.00 679,950.00 0.00 0.00
A-5 50,000,000.00 6.75000% 50,000,000.00 281,250.00 0.00 0.00
A-6 60,000,000.00 6.75000% 60,000,000.00 337,500.00 0.00 0.00
A-7 10,625,000.00 6.75000% 10,625,000.00 59,765.62 0.00 0.00
A-8 7,740,000.00 6.75000% 7,740,000.00 43,537.50 0.00 0.00
A-9 84,254,000.00 6.75000% 84,254,000.00 473,928.75 0.00 0.00
A-10 32,915,160.00 6.75000% 32,915,160.00 185,147.77 0.00 0.00
A-11 75,800,000.00 6.75000% 75,800,000.00 426,375.00 0.00 0.00
A-R 100.00 6.75000% 100.00 0.56 0.00 0.00
APO 589,739.45 0.00000% 589,739.45 0.00 0.00 0.00
B-1 12,811,000.00 6.75000% 12,811,000.00 72,061.88 0.00 0.00
B-2 10,408,000.00 6.75000% 10,408,000.00 58,545.00 0.00 0.00
B-3 3,603,000.00 6.75000% 3,603,000.00 20,266.88 0.00 0.00
B-4 2,401,000.00 6.75000% 2,401,000.00 13,505.62 0.00 0.00
B-5 1,602,000.00 6.75000% 1,602,000.00 9,011.25 0.00 0.00
B-6 2,001,786.63 6.75000% 2,001,786.63 11,260.05 0.00 0.00
Totals 800,630,786.08 4,500,230.88 0.00 0.00
</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>
A-1 0.00 0.00 225,000.00 0.00 39,728,973.71
A-2 0.00 0.00 140,625.00 0.00 24,662,638.75
A-3 0.00 0.00 1,462,500.00 0.00 257,431,982.50
A-4 0.00 0.00 679,950.00 0.00 119,735,291.85
A-5 0.00 0.00 281,250.00 0.00 49,559,086.60
A-6 0.00 0.00 337,500.00 0.00 59,563,745.74
A-7 0.00 0.00 59,765.62 0.00 10,625,000.00
A-8 0.00 0.00 43,537.50 0.00 7,740,000.00
A-9 0.00 0.00 473,928.75 0.00 84,254,000.00
A-10 0.00 0.00 185,147.77 0.00 32,915,160.00
A-11 0.00 0.00 426,375.00 0.00 75,800,000.00
A-R 0.00 0.00 0.56 0.00 0.00
APO 0.00 0.00 0.00 0.00 589,148.89
B-1 0.00 0.00 72,061.88 0.00 12,801,159.14
B-2 0.00 0.00 58,545.00 0.00 10,400,005.02
B-3 0.00 0.00 20,266.88 0.00 3,600,232.33
B-4 0.00 0.00 13,505.62 0.00 2,399,155.65
B-5 0.00 0.00 9,011.25 0.00 1,600,769.41
B-6 0.00 0.00 11,260.05 0.00 2,000,248.98
Totals 0.00 0.00 4,500,230.88 0.00
<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>
A-1 40,000,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-2 25,000,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-3 260,000,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-4 120,880,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-5 50,000,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-6 60,000,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-7 10,625,000.00 6.75000% 1000.00000000 5.62499953 0.00000000 0.00000000
A-8 7,740,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-9 84,254,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-10 32,915,160.00 6.75000% 1000.00000000 5.62499985 0.00000000 0.00000000
A-11 75,800,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-R 100.00 6.75000% 1000.00000000 5.60000000 0.00000000 0.00000000
APO 589,739.45 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
B-1 12,811,000.00 6.75000% 1000.00000000 5.62500039 0.00000000 0.00000000
B-2 10,408,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
B-3 3,603,000.00 6.75000% 1000.00000000 5.62500139 0.00000000 0.00000000
B-4 2,401,000.00 6.75000% 1000.00000000 5.62499792 0.00000000 0.00000000
B-5 1,602,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
B-6 2,001,786.63 6.75000% 1000.00000000 5.62500010 0.00000000 0.00000000
<FN>
(5)Per $1,000 Denomination, except Class A-R, which is Per $100 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>
A-1 0.00000000 0.00000000 5.62500000 0.00000000 993.22434275
A-2 0.00000000 0.00000000 5.62500000 0.00000000 986.50555000
A-3 0.00000000 0.00000000 5.62500000 0.00000000 990.12300962
A-4 0.00000000 0.00000000 5.62500000 0.00000000 990.53021054
A-5 0.00000000 0.00000000 5.62500000 0.00000000 991.18173200
A-6 0.00000000 0.00000000 5.62500000 0.00000000 992.72909567
A-7 0.00000000 0.00000000 5.62499953 0.00000000 1000.00000000
A-8 0.00000000 0.00000000 5.62500000 0.00000000 1000.00000000
A-9 0.00000000 0.00000000 5.62500000 0.00000000 1000.00000000
A-10 0.00000000 0.00000000 5.62499985 0.00000000 1000.00000000
A-11 0.00000000 0.00000000 5.62500000 0.00000000 1000.00000000
A-R 0.00000000 0.00000000 5.60000000 0.00000000 0.00000000
APO 0.00000000 0.00000000 0.00000000 0.00000000 998.99860862
B-1 0.00000000 0.00000000 5.62500039 0.00000000 999.23184295
B-2 0.00000000 0.00000000 5.62500000 0.00000000 999.23184281
B-3 0.00000000 0.00000000 5.62500139 0.00000000 999.23184291
B-4 0.00000000 0.00000000 5.62499792 0.00000000 999.23184090
B-5 0.00000000 0.00000000 5.62500000 0.00000000 999.23184145
B-6 0.00000000 0.00000000 5.62500010 0.00000000 999.23186119
<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>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 9,947,907.90
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses 0.00
Total Deposits 9,947,907.90
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 174,991.80
Payment of Interest and Principal 9,724,178.90
Total Withdrawals (Pool Distribution Amount) 9,899,170.70
Ending Balance 48,737.20
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 4,847.28
Servicing Fee Support 4,847.28
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 168,497.07
Master Servicing Fee 11,342.05
Supported Prepayment/Curtailment Interest Shortfall 4,847.28
Net Servicing Fee 174,991.84
</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 11 3,282,745.11 0.450635% 0.412713%
60 Days 0 0.00 0.000000% 0.000000%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 11 3,282,745.11 0.450635% 0.412713%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 239.53
Cumulative Realized Losses - Includes Interest Shortfall 239.53
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 1,086,207.83
</TABLE>
<TABLE>
<CAPTION>
SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE
Current Next
Original $ Original % Current $ Current % Class% Prepayment%
<S> <C> <C> <C> <C> <C> <C> <C>
Class A 32,826,786.63 4.10011546% 32,801,570.53 4.12387458% 95.873069% 100.000000%
Class B-1 20,015,786.63 2.50000212% 20,000,411.39 2.51448900% 1.610579% 0.000000%
Class B-2 9,607,786.63 1.20002713% 9,600,406.37 1.20698098% 1.308477% 0.000000%
Class B-3 6,004,786.63 0.75000696% 6,000,174.04 0.75435306% 0.452963% 0.000000%
Class B-4 3,603,786.63 0.45011842% 3,601,018.39 0.45272674% 0.301850% 0.000000%
Class B-5 2,001,786.63 0.25002619% 2,000,248.98 0.25147503% 0.201401% 0.000000%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.251661% 0.000000%
<FN>
Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
</FN>
</TABLE>
<TABLE>
<CAPTION>
CREDIT ENHANCEMENT
Original $ Original % Current $ Current %
<S> <C> <C> <C> <C>
Bankruptcy 100,000.00 0.01249015% 100,000.00 0.01257219%
Fraud 3,506,362.62 0.43795001% 3,506,362.62 0.44082644%
Special Hazard 1,993,893.18 0.24904028% 1,993,893.18 0.25067597%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Mixed Fixed Ratio Strip
Weighted Average Gross Coupon 7.464492%
Weighted Average Pass-Through Rate 6.750000%
Weighted Average Maturity(Stepdown Calculation ) 356
Begin Scheduled Collateral Loan Count 2,452
Number Of Loans Paid In Full 11
End Scheduled Collateral Loan Count 2,441
Begining Scheduled Collateral Balance 800,630,786.08
Ending Scheduled Collateral Balance 795,406,598.58
Ending Actual Collateral Balance at 29-May-1998 789,068,355.12
Ending Scheduled Balance For Norwest 652,802,454.63
Ending Scheduled Balance For Other Services 142,604,143.95
Monthly P &I Constant 5,297,303.84
Class A Optimal Amount 9,513,961.04
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 742,077,953.89
Ending scheduled Balance For discounted Loans 53,328,644.69
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 700,349,614.71
Greater Than 80%, less than or equal to 85% 13,948,280.36
Greater than 85%, less than or equal to 95% 80,339,272.26
Greater than 95% 876,233.93
</TABLE>
