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Previous: OCWEN MORTGAGE LOAN ASSET BACKED CERT SERIES 1998-OFS2, 8-K, 1998-11-10 |
Next: NORWEST ASSET SECURITIES CORP MOR PAS TH CERT SER 1998-12 TR, 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 INTEGRATED STRUCTURED ASSETS, INC.
Mortgage Pass-Through Certificates, Series 1998-1 Trust
New York (governing law of 333-17801-01 52-2107125
Pooling and Servicing Agreement) (Commission IRS EIN
(State or other File Number)
jurisdiction
c/o Norwest Bank Minnesota, N.A.
11000 Broken Land Parkway 21044
Columbia, MD (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 INTEGRATED
STRUCTURED ASSETS, INC., Mortgage Pass-Through Certificates, Series 1998-1
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 1998-1 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 INTEGRATED STRUCTURED ASSETS, INC.
Mortgage Pass-Through Certificates, Series 1998-1 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 1998-1 Trust, relating to the October 26,
1998 distribution.
<TABLE>
<CAPTION>
Norwest Integrated Structured Assets, inc.
Mortgage Pass-Through Certificates
Record Date: 09/30/1998
Distribution Date: 10/26/1998
NISTAR Series: 1998-1
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>
I-A-1 66938DAA7 SEQ 6.75000% 28,194,036.38 158,591.45 769,408.09
I-A-PO NIS981PO1 PO 0.00000% 25,773.18 0.00 106.62
II-A-1 66938DAB5 SEQ 7.00000% 59,920,785.39 349,537.91 2,637,859.76
II-A-2 66938DAC3 SEQ 7.00000% 4,000,000.00 23,333.33 0.00
II-A-3 66938DAD1 SEQ 7.00000% 4,769,000.00 27,819.17 0.00
II-A-4 66938DAE9 SEQ 7.00000% 28,881,517.00 168,475.52 0.00
II-A-5 66938DAF6 SEQ 7.00000% 19,327,735.51 112,745.12 512,539.32
II-A-6 66938DAG4 SEQ 0.00000% 6,440,573.80 0.00 157,460.77
II-A-7 66938DAH2 SEQ 7.00000% 31,985,534.00 186,582.28 0.00
II-A-8 66938DAJ8 SEQ 7.00000% 25,010,905.64 145,896.95 1,101,041.34
II-A-PO NIS981PO2 PO 0.00000% 3,442.71 0.00 2.99
II-A-R 66938DAK5 R 6.75000% 0.00 103.57 0.00
B-1 66938DAL3 SUB 6.75000% 4,722,926.53 26,566.46 5,112.50
B-2 66938DAM1 SUB 6.75000% 5,429,921.65 30,543.31 5,877.82
B-3 66938DAN9 SUB 6.75000% 1,651,978.73 9,292.38 1,788.24
B-4 66938DAP4 SUB 6.75000% 944,983.61 5,315.53 1,022.93
B-5 66938DAQ2 SUB 6.75000% 471,993.92 2,654.97 510.93
B-6 66938DAR0 SUB 6.75000% 945,779.03 5,320.01 1,023.79
Totals 222,726,887.08 1,252,777.96 5,193,755.10
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
I-A-1 0.00 27,424,628.29 927,999.54 0.00
I-A-PO 0.00 25,666.57 106.62 0.00
II-A-1 0.00 57,282,925.63 2,987,397.67 0.00
II-A-2 0.00 4,000,000.00 23,333.33 0.00
II-A-3 0.00 4,769,000.00 27,819.17 0.00
II-A-4 0.00 28,881,517.00 168,475.52 0.00
II-A-5 0.00 18,815,196.19 625,284.44 0.00
II-A-6 0.00 6,283,113.04 157,460.77 0.00
II-A-7 0.00 31,985,534.00 186,582.28 0.00
II-A-8 0.00 23,909,864.30 1,246,938.29 0.00
II-A-PO 0.00 3,439.72 2.99 0.00
II-A-R 0.00 0.00 103.57 0.00
B-1 0.00 4,717,814.03 31,678.96 0.00
B-2 0.00 5,424,043.84 36,421.13 0.00
B-3 0.00 1,650,190.49 11,080.62 0.00
B-4 0.00 943,960.68 6,338.46 0.00
B-5 0.00 471,483.00 3,165.90 0.00
B-6 0.00 944,755.24 6,343.80 1,643.16
Totals 0.00 217,533,132.02 6,446,533.06 1,643.16
<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>
I-A-1 29,848,000.00 28,194,036.38 96,040.89 673,367.19 0.00 0.00
I-A-PO 26,177.75 25,773.18 90.21 16.41 0.00 0.00
II-A-1 67,500,000.00 59,920,785.39 78,376.37 2,559,483.39 0.00 0.00
II-A-2 4,000,000.00 4,000,000.00 0.00 0.00 0.00 0.00
II-A-3 4,769,000.00 4,769,000.00 0.00 0.00 0.00 0.00
II-A-4 28,881,517.00 28,881,517.00 0.00 0.00 0.00 0.00
II-A-5 20,800,386.00 19,327,735.51 15,228.62 497,310.69 0.00 0.00
II-A-6 6,892,997.00 6,440,573.80 4,678.49 152,782.28 0.00 0.00
II-A-7 31,985,534.00 31,985,534.00 0.00 0.00 0.00 0.00
II-A-8 28,174,466.00 25,010,905.64 32,714.26 1,068,327.08 0.00 0.00
II-A-PO 3,454.49 3,442.71 2.99 0.00 0.00 0.00
II-A-R 100.00 0.00 0.00 0.00 0.00 0.00
B-1 4,743,000.00 4,722,926.53 5,112.50 0.00 0.00 0.00
B-2 5,453,000.00 5,429,921.65 5,877.82 0.00 0.00 0.00
B-3 1,659,000.00 1,651,978.73 1,788.24 0.00 0.00 0.00
B-4 949,000.00 944,983.61 1,022.93 0.00 0.00 0.00
B-5 474,000.00 471,993.92 510.93 0.00 0.00 0.00
B-6 949,798.80 945,779.03 1,023.79 0.00 0.00 0.00
Totals 237,109,431.04 222,726,887.08 242,468.04 4,951,287.04 0.00 0.00
<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>
I-A-1 769,408.09 27,424,628.29 0.91880958 769,408.09
I-A-PO 106.62 25,666.57 0.98047273 106.62
II-A-1 2,637,859.76 57,282,925.63 0.84863594 2,637,859.76
II-A-2 0.00 4,000,000.00 1.00000000 0.00
II-A-3 0.00 4,769,000.00 1.00000000 0.00
II-A-4 0.00 28,881,517.00 1.00000000 0.00
II-A-5 512,539.32 18,815,196.19 0.90455995 512,539.32
II-A-6 157,460.77 6,283,113.04 0.91152122 157,460.77
II-A-7 0.00 31,985,534.00 1.00000000 0.00
II-A-8 1,101,041.34 23,909,864.30 0.84863594 1,101,041.34
II-A-PO 2.99 3,439.72 0.99572441 2.99
II-A-R 0.00 0.00 0.00000000 0.00
B-1 5,112.50 4,717,814.03 0.99468987 5,112.50
B-2 5,877.82 5,424,043.84 0.99468987 5,877.82
B-3 1,788.24 1,650,190.49 0.99468987 1,788.24
B-4 1,022.93 943,960.68 0.99468986 1,022.93
B-5 510.93 471,483.00 0.99468987 510.93
B-6 1,023.79 944,755.24 0.99468986 1,023.79
Totals 5,193,755.10 217,533,132.02 0.91743770 5,193,755.10
</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>
I-A-1 29,848,000.00 944.58712075 3.21766584 22.55987637 0.00000000
I-A-PO 26,177.75 984.54527223 3.44605629 0.62686824 0.00000000
II-A-1 67,500,000.00 887.71533911 1.16113141 37.91827244 0.00000000
II-A-2 4,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
II-A-3 4,769,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
II-A-4 28,881,517.00 1000.00000000 0.00000000 0.00000000 0.00000000
II-A-5 20,800,386.00 929.20080954 0.73213161 23.90872410 0.00000000
II-A-6 6,892,997.00 934.36480532 0.67873089 22.16485514 0.00000000
II-A-7 31,985,534.00 1000.00000000 0.00000000 0.00000000 0.00000000
II-A-8 28,174,466.00 887.71533913 1.16113150 37.91827252 0.00000000
II-A-PO 3,454.49 996.58994526 0.86554021 0.00000000 0.00000000
II-A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000
B-1 4,743,000.00 995.76776934 1.07790428 0.00000000 0.00000000
B-2 5,453,000.00 995.76777003 1.07790574 0.00000000 0.00000000
B-3 1,659,000.00 995.76776974 1.07790235 0.00000000 0.00000000
B-4 949,000.00 995.76776607 1.07790306 0.00000000 0.00000000
B-5 474,000.00 995.76776371 1.07791139 0.00000000 0.00000000
B-6 949,798.80 995.76776682 1.07790197 0.00000000 0.00000000
<FN>
(2) Per $1000 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>
I-A-1 0.00000000 25.77754255 918.80957820 0.91880958 25.77754255
I-A-PO 0.00000000 4.07292453 980.47272970 0.98047273 4.07292453
II-A-1 0.00000000 39.07940385 848.63593526 0.84863594 39.07940385
II-A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
II-A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
II-A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
II-A-5 0.00000000 24.64085618 904.55995336 0.90455995 24.64085618
II-A-6 0.00000000 22.84358603 911.52122074 0.91152122 22.84358603
II-A-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
II-A-8 0.00000000 39.07940402 848.63593511 0.84863594 39.07940402
II-A-PO 0.00000000 0.86554021 995.72440505 0.99572441 0.86554021
II-A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 1.07790428 994.68986506 0.99468987 1.07790428
B-2 0.00000000 1.07790574 994.68986613 0.99468987 1.07790574
B-3 0.00000000 1.07790235 994.68986739 0.99468987 1.07790235
B-4 0.00000000 1.07790306 994.68986301 0.99468986 1.07790306
B-5 0.00000000 1.07791139 994.68987342 0.99468987 1.07791139
B-6 0.00000000 1.07790197 994.68986484 0.99468986 1.07790197
<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>
I-A-1 29,848,000.00 6.75000% 28,194,036.38 158,591.45 0.00 0.00
I-A-PO 26,177.75 0.00000% 25,773.18 0.00 0.00 0.00
II-A-1 67,500,000.00 7.00000% 59,920,785.39 349,537.91 0.00 0.00
II-A-2 4,000,000.00 7.00000% 4,000,000.00 23,333.33 0.00 0.00
II-A-3 4,769,000.00 7.00000% 4,769,000.00 27,819.17 0.00 0.00
II-A-4 28,881,517.00 7.00000% 28,881,517.00 168,475.52 0.00 0.00
II-A-5 20,800,386.00 7.00000% 19,327,735.51 112,745.12 0.00 0.00
II-A-6 6,892,997.00 0.00000% 6,440,573.80 0.00 0.00 0.00
II-A-7 31,985,534.00 7.00000% 31,985,534.00 186,582.28 0.00 0.00
II-A-8 28,174,466.00 7.00000% 25,010,905.64 145,896.95 0.00 0.00
II-A-PO 3,454.49 0.00000% 3,442.71 0.00 0.00 0.00
II-A-R 100.00 6.75000% 0.00 0.00 0.00 0.00
B-1 4,743,000.00 6.75000% 4,722,926.53 26,566.46 0.00 0.00
B-2 5,453,000.00 6.75000% 5,429,921.65 30,543.31 0.00 0.00
B-3 1,659,000.00 6.75000% 1,651,978.73 9,292.38 0.00 0.00
B-4 949,000.00 6.75000% 944,983.61 5,315.53 0.00 0.00
B-5 474,000.00 6.75000% 471,993.92 2,654.97 0.00 0.00
B-6 949,798.80 6.75000% 945,779.03 5,320.01 0.00 0.00
Totals 237,109,431.04 1,252,674.39 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>
I-A-1 0.00 0.00 158,591.45 0.00 27,424,628.29
I-A-PO 0.00 0.00 0.00 0.00 25,666.57
II-A-1 0.00 0.00 349,537.91 0.00 57,282,925.63
II-A-2 0.00 0.00 23,333.33 0.00 4,000,000.00
II-A-3 0.00 0.00 27,819.17 0.00 4,769,000.00
II-A-4 0.00 0.00 168,475.52 0.00 28,881,517.00
II-A-5 0.00 0.00 112,745.12 0.00 18,815,196.19
II-A-6 0.00 0.00 0.00 0.00 6,283,113.04
II-A-7 0.00 0.00 186,582.28 0.00 31,985,534.00
II-A-8 0.00 0.00 145,896.95 0.00 23,909,864.30
II-A-PO 0.00 0.00 0.00 0.00 3,439.72
II-A-R 0.00 0.00 103.57 0.00 0.00
B-1 0.00 0.00 26,566.46 0.00 4,717,814.03
B-2 0.00 0.00 30,543.31 0.00 5,424,043.84
B-3 0.00 0.00 9,292.38 0.00 1,650,190.49
B-4 0.00 0.00 5,315.53 0.00 943,960.68
B-5 0.00 0.00 2,654.97 0.00 471,483.00
B-6 0.00 0.00 5,320.01 0.00 944,755.24
Totals 0.00 0.00 1,252,777.96 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>
I-A-1 29,848,000.00 6.75000% 944.58712075 5.31330240 0.00000000 0.00000000
I-A-PO 26,177.75 0.00000% 984.54527223 0.00000000 0.00000000 0.00000000
II-A-1 67,500,000.00 7.00000% 887.71533911 5.17833941 0.00000000 0.00000000
II-A-2 4,000,000.00 7.00000% 1000.00000000 5.83333250 0.00000000 0.00000000
II-A-3 4,769,000.00 7.00000% 1000.00000000 5.83333403 0.00000000 0.00000000
II-A-4 28,881,517.00 7.00000% 1000.00000000 5.83333348 0.00000000 0.00000000
II-A-5 20,800,386.00 7.00000% 929.20080954 5.42033787 0.00000000 0.00000000
II-A-6 6,892,997.00 0.00000% 934.36480532 0.00000000 0.00000000 0.00000000
II-A-7 31,985,534.00 7.00000% 1000.00000000 5.83333328 0.00000000 0.00000000
II-A-8 28,174,466.00 7.00000% 887.71533913 5.17833949 0.00000000 0.00000000
II-A-PO 3,454.49 0.00000% 996.58994526 0.00000000 0.00000000 0.00000000
II-A-R 100.00 6.75000% 0.00000000 0.00000000 0.00000000 0.00000000
B-1 4,743,000.00 6.75000% 995.76776934 5.60119334 0.00000000 0.00000000
B-2 5,453,000.00 6.75000% 995.76777003 5.60119384 0.00000000 0.00000000
B-3 1,659,000.00 6.75000% 995.76776974 5.60119349 0.00000000 0.00000000
B-4 949,000.00 6.75000% 995.76776607 5.60119073 0.00000000 0.00000000
B-5 474,000.00 6.75000% 995.76776371 5.60120253 0.00000000 0.00000000
B-6 949,798.80 6.75000% 995.76776682 5.60119680 0.00000000 0.00000000
<FN>
(5) Per $1000 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>
I-A-1 0.00000000 0.00000000 5.31330240 0.00000000 918.80957820
I-A-PO 0.00000000 0.00000000 0.00000000 0.00000000 980.47272970
II-A-1 0.00000000 0.00000000 5.17833941 0.00000000 848.63593526
II-A-2 0.00000000 0.00000000 5.83333250 0.00000000 1000.00000000
II-A-3 0.00000000 0.00000000 5.83333403 0.00000000 1000.00000000
II-A-4 0.00000000 0.00000000 5.83333348 0.00000000 1000.00000000
II-A-5 0.00000000 0.00000000 5.42033787 0.00000000 904.55995336
II-A-6 0.00000000 0.00000000 0.00000000 0.00000000 911.52122074
II-A-7 0.00000000 0.00000000 5.83333328 0.00000000 1000.00000000
II-A-8 0.00000000 0.00000000 5.17833949 0.00000000 848.63593511
II-A-PO 0.00000000 0.00000000 0.00000000 0.00000000 995.72440505
II-A-R 0.00000000 0.00000000 1035.70000000 0.00000000 0.00000000
B-1 0.00000000 0.00000000 5.60119334 0.00000000 994.68986506
B-2 0.00000000 0.00000000 5.60119384 0.00000000 994.68986613
B-3 0.00000000 0.00000000 5.60119349 0.00000000 994.68986739
B-4 0.00000000 0.00000000 5.60119073 0.00000000 994.68986301
B-5 0.00000000 0.00000000 5.60120253 0.00000000 994.68987342
B-6 0.00000000 0.00000000 5.60119680 0.00000000 994.68986484
<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 Notional Notional Component Component Component
Class Rate Balance Balance Balance Balance
<S> <C> <C> <C> <C> <C> <C>
II-A-6 COMP 0.00000% 0.00 0.00 1,069,686.00 1,069,686.00 100.00000000%
II-A-6 COMP 0.00000% 0.00 0.00 5,370,887.80 5,213,427.04 89.52685234%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 56,568.01
Deposits
Payments of Interest and Principal 5,907,164.81
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 514,102.50
Other Amounts (Servicer Advances) 16,635.08
Realized Losses 0.00
Total Deposits 6,437,902.39
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 47,937.35
Payment of Interest and Principal 6,446,533.06
Total Withdrawals (Pool Distribution Amount) 6,494,470.41
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 1,648.36
Servicing Fee Support 1,648.36
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 46,430.43
Master Servicing Fee 3,155.28
Supported Prepayment/Curtailment Interest Shortfall 1,648.36
Net Servicing Fee 47,937.35
</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 3 303,564.56 0.182260% 0.139549%
60 Days 1 269,424.59 0.060753% 0.123855%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 1 0.00 0.060753% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 5 572,989.15 0.303767% 0.263403%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 1,643.16
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 304,162.34
</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 14,227,798.80 6.00051999% 14,152,247.28 6.50578932% 93.493340% 0.000000%
Class B-1 9,484,798.80 4.00017779% 9,434,433.25 4.33700980% 2.169070% 33.336148%
Class B-2 4,031,798.80 1.70039580% 4,010,389.41 1.84357637% 2.493767% 38.326378%
Class B-3 2,372,798.80 1.00071886% 2,360,198.92 1.08498365% 0.758694% 11.660272%
Class B-4 1,423,798.80 0.60048172% 1,416,238.24 0.65104484% 0.433997% 6.670041%
Class B-5 949,798.80 0.40057403% 944,755.24 0.43430407% 0.216770% 3.331506%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.434362% 6.675655%
<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 54,852.41 0.02313380% 54,852.41 0.02521566%
Fraud 4,742,188.62 2.00000000% 4,742,188.62 2.17998453%
Special Hazard 2,371,094.31 1.00000000% 2,371,094.31 1.08999226%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Fixed 15 & 30 Year
Weighted Average Gross Coupon 8.019975%
Weighted Average Pass-Through Rate 6.750000%
Weighted Average Maturity(Stepdown Calculation ) 325
Begin Scheduled Collateral Loan Count 1,673
Number Of Loans Paid In Full 27
End Scheduled Collateral Loan Count 1,646
Begining Scheduled Collateral Balance 222,726,887.10
Ending Scheduled Collateral Balance 217,533,132.01
Ending Actual Collateral Balance at 30-Sep-1998 219,839,591.84
Ending Scheduled Balance For Norwest 215,086,066.48
Ending Scheduled Balance For Other Services 2,447,065.53
Monthly P &I Constant 1,549,808.43
Class A Optimal Amount 6,351,290.99
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 215,576,805.51
Ending scheduled Balance For discounted Loans 1,956,326.50
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 183,553,085.45
Greater Than 80%, less than or equal to 85% 2,610,515.87
Greater than 85%, less than or equal to 95% 31,403,287.53
Greater than 95% 0.00
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
</TABLE>
<TABLE>
<CAPTION> Delinquency Status By Groups
<S> <C>
Groups 30 Days 60 Days 90 + Days
Number Balance Number Balance Number Balance
1 0 0.00 0 0.00 0 0.00 0
2 3 303,564.56 1 269,424.59 0 0.00 1
Total 3 $303,564.56 1 $269,424.59 0 $0.00 1
</TABLE>
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