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): November 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
(Former name or former address, if changed since last report)
ITEM 5. Other Events
On November 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 November 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: 11/30/1998
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 November 25,
1998 distribution.
<TABLE>
<CAPTION>
Norwest Integrated Structured Assets, inc.
Mortgage Pass-Through Certificates
Record Date: 10/30/1998
Distribution Date: 11/25/1998
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% 27,424,628.29 154,263.53 603,699.85
I-A-PO NIS981PO1 PO 0.00000% 25,666.57 0.00 97.61
II-A-1 66938DAB5 SEQ 7.00000% 57,282,925.63 334,150.40 2,838,948.90
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% 18,815,196.19 109,755.31 551,611.18
II-A-6 66938DAG4 SEQ 0.00000% 6,283,113.04 0.00 169,464.31
II-A-7 66938DAH2 SEQ 7.00000% 31,985,534.00 186,582.28 0.00
II-A-8 66938DAJ8 SEQ 7.00000% 23,909,864.30 139,474.21 1,184,975.84
II-A-PO NIS981PO2 PO 0.00000% 3,439.72 0.00 3.01
II-A-R 66938DAK5 R 6.75000% 0.00 0.00 0.00
B-1 66938DAL3 SUB 6.75000% 4,717,814.03 26,537.70 5,226.81
B-2 66938DAM1 SUB 6.75000% 5,424,043.84 30,510.25 6,009.24
B-3 66938DAN9 SUB 6.75000% 1,650,190.49 9,282.32 1,828.23
B-4 66938DAP4 SUB 6.75000% 943,960.68 5,309.78 1,045.80
B-5 66938DAQ2 SUB 6.75000% 471,483.00 2,652.09 522.35
B-6 66938DAR0 SUB 6.75000% 944,755.24 4,362.76 0.00
Totals 217,533,132.02 1,222,508.65 5,363,433.13
</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 26,820,928.45 757,963.38 0.00
I-A-PO 0.00 25,568.96 97.61 0.00
II-A-1 0.00 54,443,976.73 3,173,099.30 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 18,263,585.01 661,366.49 0.00
II-A-6 0.00 6,113,648.73 169,464.31 0.00
II-A-7 0.00 31,985,534.00 186,582.28 0.00
II-A-8 0.00 22,724,888.46 1,324,450.05 0.00
II-A-PO 0.00 3,436.71 3.01 0.00
II-A-R 0.00 0.00 0.00 0.00
B-1 0.00 4,712,587.22 31,764.51 0.00
B-2 0.00 5,418,034.60 36,519.49 0.00
B-3 0.00 1,648,362.26 11,110.55 0.00
B-4 0.00 942,914.88 6,355.58 0.00
B-5 0.00 470,960.65 3,174.44 0.00
B-6 1,046.68 943,708.56 4,362.76 2,689.84
Totals 1,046.68 212,168,652.22 6,585,941.78 2,689.84
<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 27,424,628.29 95,099.82 508,600.03 0.00 0.00
I-A-PO 26,177.75 25,666.57 90.82 6.79 0.00 0.00
II-A-1 67,500,000.00 57,282,925.63 78,657.86 2,760,291.04 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 18,815,196.19 15,283.32 536,327.86 0.00 0.00
II-A-6 6,892,997.00 6,283,113.04 4,695.29 164,769.01 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 23,909,864.30 32,831.75 1,152,144.09 0.00 0.00
II-A-PO 3,454.49 3,439.72 3.01 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 4,717,814.03 5,226.81 0.00 0.00 0.00
B-2 5,453,000.00 5,424,043.84 6,009.24 0.00 0.00 0.00
B-3 1,659,000.00 1,650,190.49 1,828.23 0.00 0.00 0.00
B-4 949,000.00 943,960.68 1,045.80 0.00 0.00 0.00
B-5 474,000.00 471,483.00 522.35 0.00 0.00 0.00
B-6 949,798.80 944,755.24 0.00 0.00 0.00 1,046.68
Totals 237,109,431.04 217,533,132.02 241,294.30 5,122,138.82 0.00 1,046.68
<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-1 603,699.85 26,820,928.45 0.89858377 603,699.85
I-A-PO 97.61 25,568.96 0.97674399 97.61
II-A-1 2,838,948.90 54,443,976.73 0.80657743 2,838,948.90
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-5 551,611.18 18,263,585.01 0.87804068 551,611.18
II-A-6 169,464.31 6,113,648.73 0.88693622 169,464.31
II-A-7 0.00 31,985,534.00 1.00000000 0.00
II-A-8 1,184,975.84 22,724,888.46 0.80657743 1,184,975.84
II-A-PO 3.01 3,436.71 0.99485308 3.01
II-A-R 0.00 0.00 0.00000000 0.00
B-1 5,226.81 4,712,587.22 0.99358786 5,226.81
B-2 6,009.24 5,418,034.60 0.99358786 6,009.24
B-3 1,828.23 1,648,362.26 0.99358786 1,828.23
B-4 1,045.80 942,914.88 0.99358786 1,045.80
B-5 522.35 470,960.65 0.99358787 522.35
B-6 1,046.68 943,708.56 0.99358786 0.00
Totals 5,364,479.81 212,168,652.22 0.89481321 5,363,433.13
</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 29,848,000.00 918.80957820 3.18613709 17.03966865 0.00000000
I-A-PO 26,177.75 980.47272970 3.46935852 0.25938058 0.00000000
II-A-1 67,500,000.00 848.63593526 1.16530163 40.89320059 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 20,800,386.00 904.55995336 0.73476136 25.78451477 0.00000000
II-A-6 6,892,997.00 911.52122074 0.68116815 23.90382732 0.00000000
II-A-7 31,985,534.00 1000.00000000 0.00000000 0.00000000 0.00000000
II-A-8 28,174,466.00 848.63593511 1.16530159 40.89320060 0.00000000
II-A-PO 3,454.49 995.72440505 0.87132978 0.00000000 0.00000000
II-A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000
B-1 4,743,000.00 994.68986506 1.10200506 0.00000000 0.00000000
B-2 5,453,000.00 994.68986613 1.10200624 0.00000000 0.00000000
B-3 1,659,000.00 994.68986739 1.10200723 0.00000000 0.00000000
B-4 949,000.00 994.68986301 1.10200211 0.00000000 0.00000000
B-5 474,000.00 994.68987342 1.10200422 0.00000000 0.00000000
B-6 949,798.80 994.68986484 0.00000000 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 20.22580575 898.58377278 0.89858377 20.22580575
I-A-PO 0.00000000 3.72873910 976.74399060 0.97674399 3.72873910
II-A-1 0.00000000 42.05850222 806.57743304 0.80657743 42.05850222
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 26.51927613 878.04067723 0.87804068 26.51927613
II-A-6 0.00000000 24.58499692 886.93622382 0.88693622 24.58499692
II-A-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
II-A-8 0.00000000 42.05850219 806.57743291 0.80657743 42.05850219
II-A-PO 0.00000000 0.87132978 994.85307527 0.99485308 0.87132978
II-A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 1.10200506 993.58786000 0.99358786 1.10200506
B-2 0.00000000 1.10200624 993.58785989 0.99358786 1.10200624
B-3 0.00000000 1.10200723 993.58786016 0.99358786 1.10200723
B-4 0.00000000 1.10200211 993.58786091 0.99358786 1.10200211
B-5 0.00000000 1.10200422 993.58786920 0.99358787 1.10200422
B-6 1.10200181 1.10200181 993.58786303 0.99358786 0.00000000
<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% 27,424,628.29 154,263.53 0.00 0.00
I-A-PO 26,177.75 0.00000% 25,666.57 0.00 0.00 0.00
II-A-1 67,500,000.00 7.00000% 57,282,925.63 334,150.40 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% 18,815,196.19 109,755.31 0.00 0.00
II-A-6 6,892,997.00 0.00000% 6,283,113.04 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% 23,909,864.30 139,474.21 0.00 0.00
II-A-PO 3,454.49 0.00000% 3,439.72 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% 4,717,814.03 26,537.70 0.00 0.00
B-2 5,453,000.00 6.75000% 5,424,043.84 30,510.25 0.00 0.00
B-3 1,659,000.00 6.75000% 1,650,190.49 9,282.32 0.00 0.00
B-4 949,000.00 6.75000% 943,960.68 5,309.78 0.00 0.00
B-5 474,000.00 6.75000% 471,483.00 2,652.09 0.00 0.00
B-6 949,798.80 6.75000% 944,755.24 5,314.25 0.00 951.49
Totals 237,109,431.04 1,223,460.14 0.00 951.49
</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 0.00 154,263.53 0.00 26,820,928.45
I-A-PO 0.00 0.00 0.00 0.00 25,568.96
II-A-1 0.00 0.00 334,150.40 0.00 54,443,976.73
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 0.00 109,755.31 0.00 18,263,585.01
II-A-6 0.00 0.00 0.00 0.00 6,113,648.73
II-A-7 0.00 0.00 186,582.28 0.00 31,985,534.00
II-A-8 0.00 0.00 139,474.21 0.00 22,724,888.46
II-A-PO 0.00 0.00 0.00 0.00 3,436.71
II-A-R 0.00 0.00 0.00 0.00 0.00
B-1 0.00 0.00 26,537.70 0.00 4,712,587.22
B-2 0.00 0.00 30,510.25 0.00 5,418,034.60
B-3 0.00 0.00 9,282.32 0.00 1,648,362.26
B-4 0.00 0.00 5,309.78 0.00 942,914.88
B-5 0.00 0.00 2,652.09 0.00 470,960.65
B-6 0.00 0.00 4,362.76 951.49 943,708.56
Totals 0.00 0.00 1,222,508.65 951.49
<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% 918.80957820 5.16830374 0.00000000 0.00000000
I-A-PO 26,177.75 0.00000% 980.47272970 0.00000000 0.00000000 0.00000000
II-A-1 67,500,000.00 7.00000% 848.63593526 4.95037630 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% 904.55995336 5.27659967 0.00000000 0.00000000
II-A-6 6,892,997.00 0.00000% 911.52122074 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% 848.63593511 4.95037634 0.00000000 0.00000000
II-A-PO 3,454.49 0.00000% 995.72440505 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% 994.68986506 5.59512966 0.00000000 0.00000000
B-2 5,453,000.00 6.75000% 994.68986613 5.59513112 0.00000000 0.00000000
B-3 1,659,000.00 6.75000% 994.68986739 5.59512960 0.00000000 0.00000000
B-4 949,000.00 6.75000% 994.68986301 5.59513172 0.00000000 0.00000000
B-5 474,000.00 6.75000% 994.68987342 5.59512658 0.00000000 0.00000000
B-6 949,798.80 6.75000% 994.68986484 5.59513236 0.00000000 1.00178059
<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 5.16830374 0.00000000 898.58377278
I-A-PO 0.00000000 0.00000000 0.00000000 0.00000000 976.74399060
II-A-1 0.00000000 0.00000000 4.95037630 0.00000000 806.57743304
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 5.27659967 0.00000000 878.04067723
II-A-6 0.00000000 0.00000000 0.00000000 0.00000000 886.93622382
II-A-7 0.00000000 0.00000000 5.83333328 0.00000000 1000.00000000
II-A-8 0.00000000 0.00000000 4.95037634 0.00000000 806.57743291
II-A-PO 0.00000000 0.00000000 0.00000000 0.00000000 994.85307527
II-A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 0.00000000 5.59512966 0.00000000 993.58786000
B-2 0.00000000 0.00000000 5.59513112 0.00000000 993.58785989
B-3 0.00000000 0.00000000 5.59512960 0.00000000 993.58786016
B-4 0.00000000 0.00000000 5.59513172 0.00000000 993.58786091
B-5 0.00000000 0.00000000 5.59512658 0.00000000 993.58786920
B-6 0.00000000 0.00000000 4.59335177 1.00178059 993.58786303
<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
Rate Balance Balance Balance Balance Percentage
Class
<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 5,213,427.04 5,043,962.73 86.61674999%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 6,657,033.57
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 6,657,033.57
Withdrawals
Reimbursement for Servicer Advances 16,635.08
Payment of Service Fee 46,657.37
Payment of Interest and Principal 6,585,941.77
Total Withdrawals (Pool Distribution Amount) 6,649,234.22
Ending Balance 7,799.35
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 1,771.84
Servicing Fee Support 1,771.84
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 45,347.57
Master Servicing Fee 3,081.64
Supported Prepayment/Curtailment Interest Shortfall 1,771.84
Net Servicing Fee 46,657.38
</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 5 456,309.35 0.309981% 0.215069%
60 Days 1 73,995.14 0.061996% 0.034876%
90+ Days 1 269,424.59 0.061996% 0.126986%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 7 799,729.08 0.433974% 0.376931%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 1,046.68
Cumulative Realized Losses - Includes Interest Shortfall 2,689.84
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 253,263.11
</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% 14,136,568.17 6.66289201% 93.336197% 0.000000%
Class B-1 9,484,798.80 4.00017779% 9,423,980.95 4.44174050% 2.221455% 33.336148%
Class B-2 4,031,798.80 1.70039580% 4,005,946.35 1.88809530% 2.553994% 38.326378%
Class B-3 2,372,798.80 1.00071886% 2,357,584.09 1.11118399% 0.777018% 11.660272%
Class B-4 1,423,798.80 0.60048172% 1,414,669.21 0.66676636% 0.444478% 6.670041%
Class B-5 949,798.80 0.40057403% 943,708.56 0.44479170% 0.222005% 3.331506%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.444853% 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 0.02585321%
Fraud 4,742,188.62 2.00000000% 4,742,188.62 2.23510333%
Special Hazard 2,371,094.31 1.00000000% 2,371,094.31 1.11755167%
<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 8.019463%
Weighted Average Pass-Through Rate 6.750000%
Weighted Average Maturity(Stepdown Calculation ) 324
Begin Scheduled Collateral Loan Count 1,646
Number Of Loans Paid In Full 33
End Scheduled Collateral Loan Count 1,613
Begining Scheduled Collateral Balance 217,533,132.01
Ending Scheduled Collateral Balance 212,168,652.21
Ending Actual Collateral Balance at 30-Oct-1998 213,861,727.99
Ending Scheduled Balance For Norwest 209,978,475.96
Ending Scheduled Balance For Other Services 2,190,176.25
Monthly P &I Constant 1,519,307.04
Class A Optimal Amount 6,492,553.82
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 210,218,362.95
Ending scheduled Balance For discounted Loans 1,950,289.26
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 178,298,054.68
Greater Than 80%, less than or equal to 85% 2,608,226.42
Greater than 85%, less than or equal to 95% 31,293,471.29
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 Mixed ARM Mixed ARM
Weighted Average Coupon Rate 7.758924 8.060060
Weighted Average Net Rate 6.744457 6.751774
Weighted Average Maturity 1.00 1.00
Beginning Loan Count 267 1,379
Loans Paid In Full 4 29
Ending Loan Count 263 1,350
Beginning Scheduled Balance 29,326,241.41 188,206,890.60
Ending scheduled Balance 28,715,938.77 183,452,713.44
Record Date 10/30/1998 10/30/1998
Principal And Interest Constant 274,918.68 1,244,388.36
Scheduled Principal 101,695.82 140,645.16
Unscheduled Principal 508,606.82 4,613,532.00
Scheduled Interest 171,348.05 1,100,817.57
Servicing Fees 6,109.57 39,238.00
Master Servicing Fees 415.45 2,666.19
Trustee Fee 0.00 0.00
FRY Amount 18,266.81 163,280.70
Special Hazard Fee 0.00 0.00
Other Fee 0.00 0.00
Pool Insurance Fee 0.00 0.00
Spread Fee 1 0.00 0.00
Spread Fee 2 0.00 0.00
Spread Fee 3 0.00 0.00
Net Interest 146,556.22 895,632.68
Realized Loss Amount 0.00 0.00
Cumulative Realized Loss 0.00 0.00
</TABLE>
<TABLE>
<CAPTION> Delinquency Status By Groups
<S> <C> <C> <C> <C> <C> <C>
Group
30 Days 60 Days 90 + Days Foreclosure REO Bankruptc
1 Principal Balance 0.00 0.00 0.00 0.00 0.00 0.00
Percent+
age Of Balanc 0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
Loan Count 0 0 0 0 0 0
Percentage Of Loans 0.000% 0.000% 0.000% 0.000% 0.000% 0.000%
2 Principal Balance 456,309.35 73,995.14 269,424.59 0.00 0.00 0.00
Percentage Of Balanc 0.249% 0.040% 0.147% 0.000% 0.000% 0.000%
Loan Count 5 1 1 0 0 0
Percentage Of Loans 0.370% 0.074% 0.074% 0.000% 0.000% 0.000%
</TABLE>
