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): December 28, 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 December 28, 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
Monthly report distributed to holders of
EX-99.1 Mortgage Pass-Through Certificates, Series
1998-1 Trust, relating to the December 28,
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: 1/8/99
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 December 28,
1998 distribution.
<TABLE>
<CAPTION>
Norwest Integrated Structured Assets, inc.
Mortgage Pass-Through Certificates
Record Date: 11/30/98
Distribution Date: 12/28/98
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% 26,820,928.45 150,867.72 1,015,635.46
I-A-PO NIS981PO1 PO 0.00000% 25,568.96 0.00 97.87
II-A-1 66938DAB5 SEQ 7.00000% 54,443,976.73 317,589.86 3,182,553.51
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% 18,263,585.01 106,537.58 618,373.97
II-A-6 66938DAG4 SEQ 0.00000% 6,113,648.73 0.00 189,974.97
II-A-7 66938DAH2 SEQ 7.00000% 31,985,534.00 186,582.28 0.00
II-A-8 66938DAJ8 SEQ 7.00000% 22,724,888.46 132,561.85 1,328,396.23
II-A-PO NIS981PO2 PO 0.00000% 3,436.71 0.00 3.02
II-A-R 66938DAK5 R 6.75000% 0.00 0.00 0.00
B-1 66938DAL3 SUB 6.75000% 4,712,587.22 26,508.30 5,264.02
B-2 66938DAM1 SUB 6.75000% 5,418,034.60 30,476.44 6,052.01
B-3 66938DAN9 SUB 6.75000% 1,648,362.26 9,272.04 1,841.24
B-4 66938DAP4 SUB 6.75000% 942,914.88 5,303.90 1,053.25
B-5 66938DAQ2 SUB 6.75000% 470,960.65 2,649.15 526.07
B-6 66938DAR0 SUB 6.75000% 943,708.56 6,259.85 70.40
Totals 212,168,652.22 1,194,236.99 6,349,842.02
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
I-A-1 0.00 25,805,292.99 1,166,503.18 0.00
I-A-PO 0.00 25,471.09 97.87 0.00
II-A-1 0.00 51,261,423.22 3,500,143.37 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 17,645,211.05 724,911.55 0.00
II-A-6 0.00 5,923,673.77 189,974.97 0.00
II-A-7 0.00 31,985,534.00 186,582.28 0.00
II-A-8 0.00 21,396,492.23 1,460,958.08 0.00
II-A-PO 0.00 3,433.69 3.02 0.00
II-A-R 0.00 0.00 0.00 0.00
B-1 0.00 4,707,323.20 31,772.32 0.00
B-2 0.00 5,411,982.59 36,528.45 0.00
B-3 0.00 1,646,521.02 11,113.28 0.00
B-4 0.00 941,861.63 6,357.15 0.00
B-5 0.00 470,434.58 3,175.22 0.00
B-6 983.74 942,654.42 6,330.25 3,673.58
Totals 983.74 205,817,826.48 7,544,079.01 3,673.58
<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 26,820,928.45 92,950.94 922,684.52 0.00 0.00
I-A-PO 26,177.75 25,568.96 91.36 6.50 0.00 0.00
II-A-1 67,500,000.00 54,443,976.73 77,746.09 3,104,807.42 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 18,263,585.01 15,106.16 603,267.81 0.00 0.00
II-A-6 6,892,997.00 6,113,648.73 4,640.87 185,334.10 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 22,724,888.46 32,451.18 1,295,945.05 0.00 0.00
II-A-PO 3,454.49 3,436.71 3.02 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 4,712,587.22 5,264.02 0.00 0.00 0.00
B-2 5,453,000.00 5,418,034.60 6,052.01 0.00 0.00 0.00
B-3 1,659,000.00 1,648,362.26 1,841.24 0.00 0.00 0.00
B-4 949,000.00 942,914.88 1,053.25 0.00 0.00 0.00
B-5 474,000.00 470,960.65 526.07 0.00 0.00 0.00
B-6 949,798.80 943,708.56 70.40 0.00 0.00 983.74
Totals 237,109,431.04 212,168,652.22 237,796.61 6,112,045.40 0.00 983.74
<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 1,015,635.46 25,805,292.99 0.86455685 1,015,635.46
I-A-PO 97.87 25,471.09 0.97300532 97.87
II-A-1 3,182,553.51 51,261,423.22 0.75942849 3,182,553.51
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-5 618,373.97 17,645,211.05 0.84831171 618,373.97
II-A-6 189,974.97 5,923,673.77 0.85937565 189,974.97
II-A-7 0.00 31,985,534.00 1.00000000 0.00
II-A-8 1,328,396.23 21,396,492.23 0.75942849 1,328,396.23
II-A-PO 3.02 3,433.69 0.99397885 3.02
II-A-R 0.00 0.00 0.00000000 0.00
B-1 5,264.02 4,707,323.20 0.99247801 5,264.02
B-2 6,052.01 5,411,982.59 0.99247801 6,052.01
B-3 1,841.24 1,646,521.02 0.99247801 1,841.24
B-4 1,053.25 941,861.63 0.99247801 1,053.25
B-5 526.07 470,434.58 0.99247802 526.07
B-6 1,054.14 942,654.42 0.99247801 70.40
Totals 6,350,825.76 205,817,826.48 0.86802885 6,349,842.02
</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>
I-A-1 29,848,000.00 898.58377278 3.11414299 30.91277540 0.00000000
I-A-PO 26,177.75 976.74399060 3.48998673 0.24830247 0.00000000
II-A-1 67,500,000.00 806.57743304 1.15179393 45.99714696 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 20,800,386.00 878.04067723 0.72624421 29.00272187 0.00000000
II-A-6 6,892,997.00 886.93622382 0.67327318 26.88730316 0.00000000
II-A-7 31,985,534.00 1000.00000000 0.00000000 0.00000000 0.00000000
II-A-8 28,174,466.00 806.57743291 1.15179397 45.99714685 0.00000000
II-A-PO 3,454.49 994.85307527 0.87422456 0.00000000 0.00000000
II-A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000
B-1 4,743,000.00 993.58786000 1.10985031 0.00000000 0.00000000
B-2 5,453,000.00 993.58785989 1.10984962 0.00000000 0.00000000
B-3 1,659,000.00 993.58786016 1.10984931 0.00000000 0.00000000
B-4 949,000.00 993.58786091 1.10985248 0.00000000 0.00000000
B-5 474,000.00 993.58786920 1.10985232 0.00000000 0.00000000
B-6 949,798.80 993.58786303 0.07412096 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 34.02691839 864.55685440 0.86455685 34.02691839
I-A-PO 0.00000000 3.73867120 973.00531940 0.97300532 3.73867120
II-A-1 0.00000000 47.14894089 759.42849215 0.75942849 47.14894089
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 29.72896609 848.31171162 0.84831171 29.72896609
II-A-6 0.00000000 27.56057634 859.37564894 0.85937565 27.56057634
II-A-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
II-A-8 0.00000000 47.14894082 759.42849210 0.75942849 47.14894082
II-A-PO 0.00000000 0.87422456 993.97885071 0.99397885 0.87422456
II-A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 1.10985031 992.47800970 0.99247801 1.10985031
B-2 0.00000000 1.10984962 992.47801027 0.99247801 1.10984962
B-3 0.00000000 1.10984931 992.47801085 0.99247801 1.10984931
B-4 0.00000000 1.10985248 992.47800843 0.99247801 1.10985248
B-5 0.00000000 1.10985232 992.47801688 0.99247802 1.10985232
B-6 1.03573515 1.10985611 992.47800692 0.99247801 0.07412096
<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% 26,820,928.45 150,867.72 0.00 0.00
I-A-PO 26,177.75 0.00000% 25,568.96 0.00 0.00 0.00
II-A-1 67,500,000.00 7.00000% 54,443,976.73 317,589.86 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% 18,263,585.01 106,537.58 0.00 0.00
II-A-6 6,892,997.00 0.00000% 6,113,648.73 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% 22,724,888.46 132,561.85 0.00 0.00
II-A-PO 3,454.49 0.00000% 3,436.71 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% 4,712,587.22 26,508.30 0.00 0.00
B-2 5,453,000.00 6.75000% 5,418,034.60 30,476.44 0.00 0.00
B-3 1,659,000.00 6.75000% 1,648,362.26 9,272.04 0.00 0.00
B-4 949,000.00 6.75000% 942,914.88 5,303.90 0.00 0.00
B-5 474,000.00 6.75000% 470,960.65 2,649.15 0.00 0.00
B-6 949,798.80 6.75000% 943,708.56 5,308.36 951.49 0.00
Totals 237,109,431.04 1,193,285.50 951.49 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 0.00 150,867.72 0.00 25,805,292.99
I-A-PO 0.00 0.00 0.00 0.00 25,471.09
II-A-1 0.00 0.00 317,589.86 0.00 51,261,423.22
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 0.00 106,537.58 0.00 17,645,211.05
II-A-6 0.00 0.00 0.00 0.00 5,923,673.77
II-A-7 0.00 0.00 186,582.28 0.00 31,985,534.00
II-A-8 0.00 0.00 132,561.85 0.00 21,396,492.23
II-A-PO 0.00 0.00 0.00 0.00 3,433.69
II-A-R 0.00 0.00 0.00 0.00 0.00
B-1 0.00 0.00 26,508.30 0.00 4,707,323.20
B-2 0.00 0.00 30,476.44 0.00 5,411,982.59
B-3 0.00 0.00 9,272.04 0.00 1,646,521.02
B-4 0.00 0.00 5,303.90 0.00 941,861.63
B-5 0.00 0.00 2,649.15 0.00 470,434.58
B-6 0.00 0.00 6,259.85 0.00 942,654.42
Totals 0.00 0.00 1,194,236.99 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% 898.58377278 5.05453364 0.00000000 0.00000000
I-A-PO 26,177.75 0.00000% 976.74399060 0.00000000 0.00000000 0.00000000
II-A-1 67,500,000.00 7.00000% 806.57743304 4.70503496 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% 878.04067723 5.12190399 0.00000000 0.00000000
II-A-6 6,892,997.00 0.00000% 886.93622382 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% 806.57743291 4.70503505 0.00000000 0.00000000
II-A-PO 3,454.49 0.00000% 994.85307527 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% 993.58786000 5.58893106 0.00000000 0.00000000
B-2 5,453,000.00 6.75000% 993.58785989 5.58893086 0.00000000 0.00000000
B-3 1,659,000.00 6.75000% 993.58786016 5.58893309 0.00000000 0.00000000
B-4 949,000.00 6.75000% 993.58786091 5.58893572 0.00000000 0.00000000
B-5 474,000.00 6.75000% 993.58786920 5.58892405 0.00000000 0.00000000
B-6 949,798.80 6.75000% 993.58786303 5.58893105 1.00178059 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 5.05453364 0.00000000 864.55685440
I-A-PO 0.00000000 0.00000000 0.00000000 0.00000000 973.00531940
II-A-1 0.00000000 0.00000000 4.70503496 0.00000000 759.42849215
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 5.12190399 0.00000000 848.31171162
II-A-6 0.00000000 0.00000000 0.00000000 0.00000000 859.37564894
II-A-7 0.00000000 0.00000000 5.83333328 0.00000000 1000.00000000
II-A-8 0.00000000 0.00000000 4.70503505 0.00000000 759.42849210
II-A-PO 0.00000000 0.00000000 0.00000000 0.00000000 993.97885071
II-A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 0.00000000 5.58893106 0.00000000 992.47800970
B-2 0.00000000 0.00000000 5.58893086 0.00000000 992.47801027
B-3 0.00000000 0.00000000 5.58893309 0.00000000 992.47801085
B-4 0.00000000 0.00000000 5.58893572 0.00000000 992.47800843
B-5 0.00000000 0.00000000 5.58892405 0.00000000 992.47801688
B-6 0.00000000 0.00000000 6.59071163 0.00000000 992.47800692
<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 5,043,962.73 4,853,987.77 83.35443135%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 7,799.35
Deposits
Payments of Interest and Principal 7,627,643.27
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 7,627,643.27
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 44,688.13
Payment of Interest and Principal 7,544,079.00
Total Withdrawals (Pool Distribution Amount) 7,588,767.13
Ending Balance 46,675.49
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 2,548.16
Servicing Fee Support 2,548.16
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 44,230.60
Master Servicing Fee 3,005.69
Supported Prepayment/Curtailment Interest Shortfall 2,548.16
Net Servicing Fee 44,688.13
</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 5 419,504.75 0.318674% 0.203823%
60 Days 1 83,984.57 0.063735% 0.040805%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 1 269,424.59 0.063735% 0.130904%
REO 0 0.00 0.000000% 0.000000%
Totals 7 772,913.91 0.446144% 0.375533%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 983.74
Cumulative Realized Losses - Includes Interest Shortfall 3,673.58
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 239,131.51
</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% 14,120,777.44 6.86081361% 93.138223% 0.000000%
Class B-1 9,484,798.80 4.00017779% 9,413,454.24 4.57368266% 2.287452% 33.336148%
Class B-2 4,031,798.80 1.70039580% 4,001,471.65 1.94418128% 2.629871% 38.326378%
Class B-3 2,372,798.80 1.00071886% 2,354,950.63 1.14419177% 0.800102% 11.660272%
Class B-4 1,423,798.80 0.60048172% 1,413,089.00 0.68657270% 0.457683% 6.670041%
Class B-5 949,798.80 0.40057403% 942,654.42 0.45800426% 0.228601% 3.331506%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.458069% 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 0.02665095%
Fraud 4,742,188.62 2.00000000% 4,742,188.62 2.30407089%
Special Hazard 2,371,094.31 1.00000000% 2,371,094.31 1.15203544%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Mixed Fixed
Weighted Average Gross Coupon 8.012671%
Weighted Average Pass-Through Rate 6.750000%
Weighted Average Maturity(Stepdown Calculation ) 323
Begin Scheduled Collateral Loan Count 1,613
Number Of Loans Paid In Full 44
End Scheduled Collateral Loan Count 1,569
Begining Scheduled Collateral Balance 212,168,652.21
Ending Scheduled Collateral Balance 205,817,826.47
Ending Actual Collateral Balance at 30-Nov-1998 208,470,617.00
Ending Scheduled Balance For Norwest 203,931,484.55
Ending Scheduled Balance For Other Services 1,886,341.92
Monthly P &I Constant 1,486,164.68
Class A Optimal Amount 7,448,701.45
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 203,873,595.09
Ending scheduled Balance For discounted Loans 1,944,231.38
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 172,428,910.81
Greater Than 80%, less than or equal to 85% 2,605,857.89
Greater than 85%, less than or equal to 95% 30,810,200.54
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 7.752979 8.053320
Weighted Average Net Rate 6.744359 6.749962
Weighted Average Maturity 1.00 1.00
Beginning Loan Count 263 1,350
Loans Paid In Full 6 38
Ending Loan Count 257 1,312
Beginning Scheduled Balance 28,715,938.77 183,452,713.44
Ending scheduled Balance 27,693,726.69 178,124,099.78
Record Date 11/30/98 11/30/98
Principal And Interest Constant 270,477.43 1,215,687.24
Scheduled Principal 99,521.06 139,259.28
Unscheduled Principal 922,691.02 5,189,354.38
Scheduled Interest 167,777.50 1,072,753.89
Servicing Fees 5,982.35 38,248.25
Master Servicing Fees 406.80 2,598.89
Trustee Fee 0.00 0.00
FRY Amount 17,746.53 158,404.96
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 143,641.83 873,501.79
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 Bankruptcy
1 Principal Balance 0.00 0.00 0.00 0.00 0.00 0.00
Percentage 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 419,504.75 83,984.57 0.00 269,424.59 0.00 0.00
Percentage Of Balanc 0.236% 0.047% 0.000% 0.151% 0.000% 0.000%
Loan Count 5 1 0 1 0 0
Percentage Of Loans 0.381% 0.076% 0.000% 0.076% 0.000% 0.000%
</TABLE>
