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): September 25, 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
c/o Norwest Bank Minnesota, N.A.
7485 New Horizon Way 21703
Frederick, MD (Zip Code)
(Former name or former address, if changed since last report)
ITEM 5. Other Events
On September 25, 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 September 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 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: 9/29/98
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 September
25, 1998 distribution.
<TABLE>
<CAPTION>
Norwest Integrated Structured Assets, inc.
Mortgage Pass-Through Certificates
Record Date: 8/31/98
Distribution Date: 9/25/98
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% 28,579,321.20 160,758.68 385,284.81
I-A-PO NIS981PO1 PO 0.00000% 25,869.23 0.00 96.04
II-A-1 66938DAS8 SEQ 7.00000% 61,927,993.49 361,246.63 2,007,208.10
II-A-2 66938DAT6 SEQ 7.00000% 4,000,000.00 23,333.33 0.00
II-A-3 66938DAU3 SEQ 7.00000% 4,769,000.00 27,819.17 0.00
II-A-4 66938DAV1 SEQ 7.00000% 28,881,517.00 168,475.52 0.00
II-A-5 66938DAW9 SEQ 7.00000% 19,717,738.45 115,020.14 390,002.94
II-A-6 66938DAX7 SEQ 0.00000% 6,560,389.32 0.00 119,815.52
II-A-7 66938DAY5 SEQ 7.00000% 31,985,534.00 186,582.28 0.00
II-A-8 66938DAJ8 SEQ 7.00000% 25,848,713.29 150,784.16 837,807.65
II-A-PO NIS981PO2 PO 0.00000% 3,445.68 0.00 2.97
II-A-R 66938DAK5 R 6.75000% 0.00 0.00 0.00
B-1 66938DBC2 SUB 6.75000% 4,728,031.98 26,595.18 5,105.44
B-2 66938DBD0 SUB 6.75000% 5,435,791.35 30,576.33 5,869.70
B-3 66938DBE8 SUB 6.75000% 1,653,764.51 9,302.43 1,785.78
B-4 66938DBF5 SUB 6.75000% 946,005.13 5,321.28 1,021.52
B-5 66938DBG3 SUB 6.75000% 472,504.14 2,657.84 510.22
B-6 66938DBH1 SUB 6.75000% 946,801.41 5,325.76 417.12
Totals 226,482,420.18 1,273,798.73 3,754,927.81
</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 28,194,036.38 546,043.49 0.00
I-A-PO 0.00 25,773.18 96.04 0.00
II-A-1 0.00 59,920,785.39 2,368,454.73 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 19,327,735.51 505,023.08 0.00
II-A-6 0.00 6,440,573.80 119,815.52 0.00
II-A-7 0.00 31,985,534.00 186,582.28 0.00
II-A-8 0.00 25,010,905.64 988,591.81 0.00
II-A-PO 0.00 3,442.71 2.97 0.00
II-A-R 0.00 0.00 0.00 0.00
B-1 0.00 4,722,926.53 31,700.62 0.00
B-2 0.00 5,429,921.65 36,446.03 0.00
B-3 0.00 1,651,978.73 11,088.21 0.00
B-4 0.00 944,983.61 6,342.80 0.00
B-5 0.00 471,993.92 3,168.06 0.00
B-6 605.26 945,779.03 5,742.88 1,643.16
Totals 605.26 222,726,887.08 5,028,726.54 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 28,579,321.20 97,205.61 288,079.21 0.00 0.00
I-A-PO 26,177.75 25,869.23 89.67 6.37 0.00 0.00
II-A-1 67,500,000.00 61,927,993.49 79,479.06 1,927,729.04 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 19,717,738.45 15,442.88 374,560.07 0.00 0.00
II-A-6 6,892,997.00 6,560,389.32 4,744.31 115,071.20 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 25,848,713.29 33,174.52 804,633.13 0.00 0.00
II-A-PO 3,454.49 3,445.68 2.97 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 4,728,031.98 5,105.44 0.00 0.00 0.00
B-2 5,453,000.00 5,435,791.35 5,869.70 0.00 0.00 0.00
B-3 1,659,000.00 1,653,764.51 1,785.78 0.00 0.00 0.00
B-4 949,000.00 946,005.13 1,021.52 0.00 0.00 0.00
B-5 474,000.00 472,504.14 510.22 0.00 0.00 0.00
B-6 949,798.80 946,801.41 417.12 0.00 0.00 605.26
Totals 237,109,431.04 226,482,420.18 244,848.80 3,510,079.02 0.00 605.26
<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-1 385,284.81 28,194,036.38 0.94458712 385,284.81
I-A-PO 96.04 25,773.18 0.98454527 96.04
II-A-1 2,007,208.10 59,920,785.39 0.88771534 2,007,208.10
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-5 390,002.94 19,327,735.51 0.92920081 390,002.94
II-A-6 119,815.52 6,440,573.80 0.93436481 119,815.52
II-A-7 0.00 31,985,534.00 1.00000000 0.00
II-A-8 837,807.65 25,010,905.64 0.88771534 837,807.65
II-A-PO 2.97 3,442.71 0.99658995 2.97
II-A-R 0.00 0.00 0.00000000 0.00
B-1 5,105.44 4,722,926.53 0.99576777 5,105.44
B-2 5,869.70 5,429,921.65 0.99576777 5,869.70
B-3 1,785.78 1,651,978.73 0.99576777 1,785.78
B-4 1,021.52 944,983.61 0.99576777 1,021.52
B-5 510.22 471,993.92 0.99576776 510.22
B-6 1,022.38 945,779.03 0.99576777 417.12
Totals 3,755,533.07 222,726,887.08 0.93934217 3,754,927.81
</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 29,848,000.00 957.49534977 3.25668755 9.65154148 0.00000000
I-A-PO 26,177.75 988.21441873 3.42542808 0.24333642 0.00000000
II-A-1 67,500,000.00 917.45175541 1.17746756 28.55894874 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 20,800,386.00 947.95060294 0.74243238 18.00736150 0.00000000
II-A-6 6,892,997.00 951.74701512 0.68827971 16.69392864 0.00000000
II-A-7 31,985,534.00 1000.00000000 0.00000000 0.00000000 0.00000000
II-A-8 28,174,466.00 917.45175543 1.17746757 28.55894873 0.00000000
II-A-PO 3,454.49 997.44969590 0.85975064 0.00000000 0.00000000
II-A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000
B-1 4,743,000.00 996.84418722 1.07641577 0.00000000 0.00000000
B-2 5,453,000.00 996.84418669 1.07641665 0.00000000 0.00000000
B-3 1,659,000.00 996.84418927 1.07641953 0.00000000 0.00000000
B-4 949,000.00 996.84418335 1.07641728 0.00000000 0.00000000
B-5 474,000.00 996.84417722 1.07641350 0.00000000 0.00000000
B-6 949,798.80 996.84418426 0.43916670 0.00000000 0.00000000
<FN>
</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 12.90822869 944.58712075 0.94458712 12.90822869
I-A-PO 0.00000000 3.66876450 984.54527223 0.98454527 3.66876450
II-A-1 0.00000000 29.73641630 887.71533911 0.88771534 29.73641630
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 18.74979339 929.20080954 0.92920081 18.74979339
II-A-6 0.00000000 17.38220980 934.36480532 0.93436481 17.38220980
II-A-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
II-A-8 0.00000000 29.73641630 887.71533913 0.88771534 29.73641630
II-A-PO 0.00000000 0.85975064 996.58994526 0.99658995 0.85975064
II-A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 1.07641577 995.76776934 0.99576777 1.07641577
B-2 0.00000000 1.07641665 995.76777003 0.99576777 1.07641665
B-3 0.00000000 1.07641953 995.76776974 0.99576777 1.07641953
B-4 0.00000000 1.07641728 995.76776607 0.99576777 1.07641728
B-5 0.00000000 1.07641350 995.76776371 0.99576776 1.07641350
B-6 0.63725075 1.07641745 995.76776682 0.99576777 0.43916670
<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% 28,579,321.20 160,758.68 0.00 0.00
I-A-PO 26,177.75 0.00000% 25,869.23 0.00 0.00 0.00
II-A-1 67,500,000.00 7.00000% 61,927,993.49 361,246.63 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% 19,717,738.45 115,020.14 0.00 0.00
II-A-6 6,892,997.00 0.00000% 6,560,389.32 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% 25,848,713.29 150,784.16 0.00 0.00
II-A-PO 3,454.49 0.00000% 3,445.68 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% 4,728,031.98 26,595.18 0.00 0.00
B-2 5,453,000.00 6.75000% 5,435,791.35 30,576.33 0.00 0.00
B-3 1,659,000.00 6.75000% 1,653,764.51 9,302.43 0.00 0.00
B-4 949,000.00 6.75000% 946,005.13 5,321.28 0.00 0.00
B-5 474,000.00 6.75000% 472,504.14 2,657.84 0.00 0.00
B-6 949,798.80 6.75000% 946,801.41 5,325.76 0.00 0.00
Totals 237,109,431.04 1,273,798.73 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 0.00 160,758.68 0.00 28,194,036.38
I-A-PO 0.00 0.00 0.00 0.00 25,773.18
II-A-1 0.00 0.00 361,246.63 0.00 59,920,785.39
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 0.00 115,020.14 0.00 19,327,735.51
II-A-6 0.00 0.00 0.00 0.00 6,440,573.80
II-A-7 0.00 0.00 186,582.28 0.00 31,985,534.00
II-A-8 0.00 0.00 150,784.16 0.00 25,010,905.64
II-A-PO 0.00 0.00 0.00 0.00 3,442.71
II-A-R 0.00 0.00 0.00 0.00 0.00
B-1 0.00 0.00 26,595.18 0.00 4,722,926.53
B-2 0.00 0.00 30,576.33 0.00 5,429,921.65
B-3 0.00 0.00 9,302.43 0.00 1,651,978.73
B-4 0.00 0.00 5,321.28 0.00 944,983.61
B-5 0.00 0.00 2,657.84 0.00 471,993.92
B-6 0.00 0.00 5,325.76 0.00 945,779.03
Totals 0.00 0.00 1,273,798.73 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% 957.49534977 5.38591128 0.00000000 0.00000000
I-A-PO 26,177.75 0.00000% 988.21441873 0.00000000 0.00000000 0.00000000
II-A-1 67,500,000.00 7.00000% 917.45175541 5.35180193 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% 947.95060294 5.52971180 0.00000000 0.00000000
II-A-6 6,892,997.00 0.00000% 951.74701512 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% 917.45175543 5.35180188 0.00000000 0.00000000
II-A-PO 3,454.49 0.00000% 997.44969590 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% 996.84418722 5.60724858 0.00000000 0.00000000
B-2 5,453,000.00 6.75000% 996.84418669 5.60724922 0.00000000 0.00000000
B-3 1,659,000.00 6.75000% 996.84418927 5.60725136 0.00000000 0.00000000
B-4 949,000.00 6.75000% 996.84418335 5.60724974 0.00000000 0.00000000
B-5 474,000.00 6.75000% 996.84417722 5.60725738 0.00000000 0.00000000
B-6 949,798.80 6.75000% 996.84418426 5.60725071 0.00000000 0.00000000
<FN>
(5) Per $1 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 5.38591128 0.00000000 944.58712075
I-A-PO 0.00000000 0.00000000 0.00000000 0.00000000 984.54527223
II-A-1 0.00000000 0.00000000 5.35180193 0.00000000 887.71533911
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 5.52971180 0.00000000 929.20080954
II-A-6 0.00000000 0.00000000 0.00000000 0.00000000 934.36480532
II-A-7 0.00000000 0.00000000 5.83333328 0.00000000 1000.00000000
II-A-8 0.00000000 0.00000000 5.35180188 0.00000000 887.71533913
II-A-PO 0.00000000 0.00000000 0.00000000 0.00000000 996.58994526
II-A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 0.00000000 5.60724858 0.00000000 995.76776934
B-2 0.00000000 0.00000000 5.60724922 0.00000000 995.76777003
B-3 0.00000000 0.00000000 5.60725136 0.00000000 995.76776974
B-4 0.00000000 0.00000000 5.60724974 0.00000000 995.76776607
B-5 0.00000000 0.00000000 5.60725738 0.00000000 995.76776371
B-6 0.00000000 0.00000000 5.60725071 0.00000000 995.76776682
<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>
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 5,490,703.32 5,370,887.80 92.23082538%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 5,161,528.60
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 5,161,528.60
Withdrawals
Reimbursement for Servicer Advances 27,595.81
Payment of Service Fee 48,638.25
Payment of Interest and Principal 5,028,726.53
Total Withdrawals (Pool Distribution Amount) 5,104,960.59
Ending Balance 56,568.01
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 1,772.90
Servicing Fee Support 1,772.90
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 47,203.33
Master Servicing Fee 3,207.83
Supported Prepayment/Curtailment Interest Shortfall 1,772.90
Net Servicing Fee 48,638.26
</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 5 583,866.71 0.298864% 0.262145%
60 Days 0 0.00 0.000000% 0.000000%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 1 494,659.34 0.059773% 0.222092%
REO 0 0.00 0.000000% 0.000000%
Totals 6 1,078,526.05 0.358637% 0.484237%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 605.26
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 261,648.92
</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% 14,167,583.47 6.36096686% 93.638199% 0.000000%
Class B-1 9,484,798.80 4.00017779% 9,444,656.94 4.24046556% 2.120779% 33.336148%
Class B-2 4,031,798.80 1.70039580% 4,014,735.29 1.80253733% 2.438248% 38.326378%
Class B-3 2,372,798.80 1.00071886% 2,362,756.56 1.06083131% 0.741803% 11.660272%
Class B-4 1,423,798.80 0.60048172% 1,417,772.95 0.63655222% 0.424335% 6.670041%
Class B-5 949,798.80 0.40057403% 945,779.03 0.42463622% 0.211944% 3.331506%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.424692% 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 0.02462766%
Fraud 4,742,188.62 2.00000000% 4,742,188.62 2.12914960%
Special Hazard 2,371,094.31 1.00000000% 2,371,094.31 1.06457480%
<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 8.021865%
Weighted Average Pass-Through Rate 6.750000%
Weighted Average Maturity(Stepdown Calculation ) 326
Begin Scheduled Collateral Loan Count 1,693
Number Of Loans Paid In Full 20
End Scheduled Collateral Loan Count 1,673
Begining Scheduled Collateral Balance 226,482,420.18
Ending Scheduled Collateral Balance 222,726,887.10
Ending Actual Collateral Balance at 31-Aug-1998 238,664,210.38
Ending Scheduled Balance For Norwest 220,274,544.86
Ending Scheduled Balance For Other Services 2,452,342.24
Monthly P &I Constant 1,572,555.20
Class A Optimal Amount 4,934,138.94
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 220,760,559.03
Ending scheduled Balance For discounted Loans 1,966,328.07
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 187,637,187.64
Greater Than 80%, less than or equal to 85% 2,613,010.94
Greater than 85%, less than or equal to 95% 32,500,685.51
Greater than 95% 0.00
</TABLE>
