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Previous: NORWEST INTEGRATED STRUCT ASSETS INC PASS THRU SER 1998-1 TR, 8-K, 1998-11-10 |
Next: LANDAIR CORP, 4, 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 ASSET SECURITIES CORPORATION
Mortgage Pass-Through Certificates, Series 1998-12 Trust
New York (governing law of 333-45021-12 52-2106316
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, Maryland (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 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
Certificate, Series 1998-12 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 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: 11/04/1998
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 October 26,
1998 distribution.
<TABLE>
<CAPTION>
Norwest Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 09/30/1998
Distribution Date: 10/26/1998
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% 38,880,471.94 218,702.65 667,115.16
A-2 66937NP51 SEQ 6.75000% 23,606,440.75 132,786.23 830,411.59
A-3 66937NP69 SEQ 6.75000% 249,392,129.16 1,402,830.73 6,321,151.31
A-4 66937NP77 SEQ 6.75000% 116,151,482.31 653,352.09 2,817,688.51
A-5 66937NP85 SEQ 6.75000% 48,178,691.40 271,005.14 1,085,304.24
A-6 66937NP93 SEQ 6.75000% 58,197,937.19 327,363.40 1,073,835.82
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% 0.00 118.12 0.00
APO NMB9812PO PO 0.00000% 587,368.64 0.00 3,783.93
B-1 66937NQ84 SUB 6.75000% 12,771,149.95 71,837.72 10,073.84
B-2 66937NQ92 SUB 6.75000% 10,375,624.75 58,362.89 8,184.25
B-3 66937NR26 SUB 6.75000% 3,591,792.47 20,203.83 2,833.19
B-4 66937NT32 SUB 6.75000% 2,393,531.42 13,463.61 1,888.01
B-5 66937NT40 SUB 6.75000% 1,597,016.80 8,983.22 1,259.72
B-6 66937NT57 SUB 6.75000% 1,995,559.89 11,225.02 1,574.09
Totals 779,053,356.67 4,378,989.29 12,825,103.66
</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 38,213,356.78 885,817.81 0.00
A-2 0.00 22,776,029.15 963,197.82 0.00
A-3 0.00 243,070,977.85 7,723,982.04 0.00
A-4 0.00 113,333,793.80 3,471,040.60 0.00
A-5 0.00 47,093,387.16 1,356,309.38 0.00
A-6 0.00 57,124,101.36 1,401,199.22 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 0.00 118.12 0.00
APO 0.00 583,584.71 3,783.93 0.00
B-1 0.00 12,761,076.12 81,911.56 0.00
B-2 0.00 10,367,440.50 66,547.14 0.00
B-3 0.00 3,588,959.27 23,037.02 0.00
B-4 0.00 2,391,643.41 15,351.62 0.00
B-5 0.00 1,595,757.08 10,242.94 0.00
B-6 0.00 1,993,985.80 12,799.11 937.05
Totals 0.00 766,228,252.99 17,204,092.95 937.05
<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 38,880,471.94 30,668.77 636,446.39 0.00 0.00
A-2 25,000,000.00 23,606,440.75 38,175.88 792,235.71 0.00 0.00
A-3 260,000,000.00 249,392,129.16 290,597.45 6,030,553.86 0.00 0.00
A-4 120,880,000.00 116,151,482.31 129,535.44 2,688,153.07 0.00 0.00
A-5 50,000,000.00 48,178,691.40 49,893.86 1,035,410.38 0.00 0.00
A-6 60,000,000.00 58,197,937.19 49,366.63 1,024,469.19 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 0.00 0.00 0.00 0.00 0.00
APO 589,739.45 587,368.64 537.69 3,246.25 0.00 0.00
B-1 12,811,000.00 12,771,149.95 10,073.84 0.00 0.00 0.00
B-2 10,408,000.00 10,375,624.75 8,184.25 0.00 0.00 0.00
B-3 3,603,000.00 3,591,792.47 2,833.19 0.00 0.00 0.00
B-4 2,401,000.00 2,393,531.42 1,888.01 0.00 0.00 0.00
B-5 1,602,000.00 1,597,016.80 1,259.72 0.00 0.00 0.00
B-6 2,001,786.63 1,995,559.89 1,574.09 0.00 0.00 0.00
Totals 800,630,786.08 779,053,356.67 614,588.82 12,210,514.85 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>
A-1 667,115.16 38,213,356.78 0.95533392 667,115.16
A-2 830,411.59 22,776,029.15 0.91104117 830,411.59
A-3 6,321,151.31 243,070,977.85 0.93488838 6,321,151.31
A-4 2,817,688.51 113,333,793.80 0.93757275 2,817,688.51
A-5 1,085,304.24 47,093,387.16 0.94186774 1,085,304.24
A-6 1,073,835.82 57,124,101.36 0.95206836 1,073,835.82
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 0.00 0.00 0.00000000 0.00
APO 3,783.93 583,584.71 0.98956363 3,783.93
B-1 10,073.84 12,761,076.12 0.99610305 10,073.84
B-2 8,184.25 10,367,440.50 0.99610305 8,184.25
B-3 2,833.19 3,588,959.27 0.99610304 2,833.19
B-4 1,888.01 2,391,643.41 0.99610304 1,888.01
B-5 1,259.72 1,595,757.08 0.99610305 1,259.72
B-6 1,574.09 1,993,985.80 0.99610307 1,574.09
Totals 12,825,103.66 766,228,252.99 0.95703071 12,825,103.66
</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 40,000,000.00 972.01179850 0.76671925 15.91115975 0.00000000
A-2 25,000,000.00 944.25763000 1.52703520 31.68942840 0.00000000
A-3 260,000,000.00 959.20049677 1.11768250 23.19443792 0.00000000
A-4 120,880,000.00 960.88254724 1.07160357 22.23819548 0.00000000
A-5 50,000,000.00 963.57382800 0.99787720 20.70820760 0.00000000
A-6 60,000,000.00 969.96561983 0.82277717 17.07448650 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 0.00000000 0.00000000 0.00000000 0.00000000
APO 589,739.45 995.97990265 0.91174162 5.50454951 0.00000000
B-1 12,811,000.00 996.88938803 0.78634299 0.00000000 0.00000000
B-2 10,408,000.00 996.88938797 0.78634224 0.00000000 0.00000000
B-3 3,603,000.00 996.88938940 0.78634194 0.00000000 0.00000000
B-4 2,401,000.00 996.88938776 0.78634319 0.00000000 0.00000000
B-5 1,602,000.00 996.88938826 0.78634207 0.00000000 0.00000000
B-6 2,001,786.63 996.88940874 0.78634255 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 16.67787900 955.33391950 0.95533392 16.67787900
A-2 0.00000000 33.21646360 911.04116600 0.91104117 33.21646360
A-3 0.00000000 24.31212042 934.88837635 0.93488838 24.31212042
A-4 0.00000000 23.30979906 937.57274818 0.93757275 23.30979906
A-5 0.00000000 21.70608480 941.86774320 0.94186774 21.70608480
A-6 0.00000000 17.89726367 952.06835600 0.95206836 17.89726367
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 0.00000000 0.00000000 0.00000000 0.00000000
APO 0.00000000 6.41627417 989.56362848 0.98956363 6.41627417
B-1 0.00000000 0.78634299 996.10304582 0.99610305 0.78634299
B-2 0.00000000 0.78634224 996.10304573 0.99610305 0.78634224
B-3 0.00000000 0.78634194 996.10304468 0.99610304 0.78634194
B-4 0.00000000 0.78634319 996.10304456 0.99610304 0.78634319
B-5 0.00000000 0.78634207 996.10304619 0.99610305 0.78634207
B-6 0.00000000 0.78634255 996.10306619 0.99610307 0.78634255
<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% 38,880,471.94 218,702.65 0.00 0.00
A-2 25,000,000.00 6.75000% 23,606,440.75 132,786.23 0.00 0.00
A-3 260,000,000.00 6.75000% 249,392,129.16 1,402,830.73 0.00 0.00
A-4 120,880,000.00 6.75000% 116,151,482.31 653,352.09 0.00 0.00
A-5 50,000,000.00 6.75000% 48,178,691.40 271,005.14 0.00 0.00
A-6 60,000,000.00 6.75000% 58,197,937.19 327,363.40 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% 0.00 0.00 0.00 0.00
APO 589,739.45 0.00000% 587,368.64 0.00 0.00 0.00
B-1 12,811,000.00 6.75000% 12,771,149.95 71,837.72 0.00 0.00
B-2 10,408,000.00 6.75000% 10,375,624.75 58,362.89 0.00 0.00
B-3 3,603,000.00 6.75000% 3,591,792.47 20,203.83 0.00 0.00
B-4 2,401,000.00 6.75000% 2,393,531.42 13,463.61 0.00 0.00
B-5 1,602,000.00 6.75000% 1,597,016.80 8,983.22 0.00 0.00
B-6 2,001,786.63 6.75000% 1,995,559.89 11,225.02 0.00 0.00
Totals 800,630,786.08 4,378,871.17 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 0.00 218,702.65 0.00 38,213,356.78
A-2 0.00 0.00 132,786.23 0.00 22,776,029.15
A-3 0.00 0.00 1,402,830.73 0.00 243,070,977.85
A-4 0.00 0.00 653,352.09 0.00 113,333,793.80
A-5 0.00 0.00 271,005.14 0.00 47,093,387.16
A-6 0.00 0.00 327,363.40 0.00 57,124,101.36
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 0.00 118.12 0.00 0.00
APO 0.00 0.00 0.00 0.00 583,584.71
B-1 0.00 0.00 71,837.72 0.00 12,761,076.12
B-2 0.00 0.00 58,362.89 0.00 10,367,440.50
B-3 0.00 0.00 20,203.83 0.00 3,588,959.27
B-4 0.00 0.00 13,463.61 0.00 2,391,643.41
B-5 0.00 0.00 8,983.22 0.00 1,595,757.08
B-6 0.00 0.00 11,225.02 0.00 1,993,985.80
Totals 0.00 0.00 4,378,989.29 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% 972.01179850 5.46756625 0.00000000 0.00000000
A-2 25,000,000.00 6.75000% 944.25763000 5.31144920 0.00000000 0.00000000
A-3 260,000,000.00 6.75000% 959.20049677 5.39550281 0.00000000 0.00000000
A-4 120,880,000.00 6.75000% 960.88254724 5.40496434 0.00000000 0.00000000
A-5 50,000,000.00 6.75000% 963.57382800 5.42010280 0.00000000 0.00000000
A-6 60,000,000.00 6.75000% 969.96561983 5.45605667 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% 0.00000000 0.00000000 0.00000000 0.00000000
APO 589,739.45 0.00000% 995.97990265 0.00000000 0.00000000 0.00000000
B-1 12,811,000.00 6.75000% 996.88938803 5.60750293 0.00000000 0.00000000
B-2 10,408,000.00 6.75000% 996.88938797 5.60750288 0.00000000 0.00000000
B-3 3,603,000.00 6.75000% 996.88938940 5.60750208 0.00000000 0.00000000
B-4 2,401,000.00 6.75000% 996.88938776 5.60750104 0.00000000 0.00000000
B-5 1,602,000.00 6.75000% 996.88938826 5.60750312 0.00000000 0.00000000
B-6 2,001,786.63 6.75000% 996.88940874 5.60750074 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 5.46756625 0.00000000 955.33391950
A-2 0.00000000 0.00000000 5.31144920 0.00000000 911.04116600
A-3 0.00000000 0.00000000 5.39550281 0.00000000 934.88837635
A-4 0.00000000 0.00000000 5.40496434 0.00000000 937.57274818
A-5 0.00000000 0.00000000 5.42010280 0.00000000 941.86774320
A-6 0.00000000 0.00000000 5.45605667 0.00000000 952.06835600
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 1181.20000000 0.00000000 0.00000000
APO 0.00000000 0.00000000 0.00000000 0.00000000 989.56362848
B-1 0.00000000 0.00000000 5.60750293 0.00000000 996.10304582
B-2 0.00000000 0.00000000 5.60750288 0.00000000 996.10304573
B-3 0.00000000 0.00000000 5.60750208 0.00000000 996.10304468
B-4 0.00000000 0.00000000 5.60750104 0.00000000 996.10304456
B-5 0.00000000 0.00000000 5.60750312 0.00000000 996.10304619
B-6 0.00000000 0.00000000 5.60750074 0.00000000 996.10306619
<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 53,308.49
Deposits
Payments of Interest and Principal 17,155,572.15
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 161,756.86
Realized Losses 0.00
Total Deposits 17,317,329.01
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 166,544.45
Payment of Interest and Principal 17,204,092.97
Total Withdrawals (Pool Distribution Amount) 17,370,637.42
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 8,361.05
Servicing Fee Support 8,361.05
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 163,869.09
Master Servicing Fee 11,036.44
Supported Prepayment/Curtailment Interest Shortfall 8,361.05
Net Servicing Fee 166,544.48
</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 1,478,941.58 0.211238% 0.193016%
60 Days 0 0.00 0.000000% 0.000000%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 1 294,571.62 0.042248% 0.038444%
REO 0 0.00 0.000000% 0.000000%
Totals 6 1,773,513.20 0.253485% 0.231460%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
Cumulative Realized Losses - Includes Interest Shortfall 937.05
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 1,276,484.93
</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% 32,698,862.18 4.26750933% 95.729238% 100.000000%
Class B-1 20,015,786.63 2.50000212% 19,937,786.06 2.60206877% 1.666710% 0.000000%
Class B-2 9,607,786.63 1.20002713% 9,570,345.56 1.24902019% 1.354080% 0.000000%
Class B-3 6,004,786.63 0.75000696% 5,981,386.29 0.78062722% 0.468750% 0.000000%
Class B-4 3,603,786.63 0.45011842% 3,589,742.88 0.46849524% 0.312370% 0.000000%
Class B-5 2,001,786.63 0.25002619% 1,993,985.80 0.26023392% 0.208420% 0.000000%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.260432% 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 0.01305094%
Fraud 3,506,362.62 0.43795001% 3,506,362.62 0.45761333%
Special Hazard 1,993,893.18 0.24904028% 1,993,893.18 0.26022183%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Fixed 30 Year
Weighted Average Gross Coupon 7.460410%
Weighted Average Pass-Through Rate 6.750000%
Weighted Average Maturity(Stepdown Calculation ) 352
Begin Scheduled Collateral Loan Count 2,400
Number Of Loans Paid In Full 33
End Scheduled Collateral Loan Count 2,367
Begining Scheduled Collateral Balance 779,053,356.67
Ending Scheduled Collateral Balance 766,228,253.00
Ending Actual Collateral Balance at 30-Sep-1998 771,149,523.43
Ending Scheduled Balance For Norwest 629,562,218.78
Ending Scheduled Balance For Other Services 136,666,034.22
Monthly P &I Constant 5,176,732.61
Class A Optimal Amount 16,990,301.51
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 713,270,152.30
Ending scheduled Balance For discounted Loans 52,958,100.70
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 674,401,228.32
Greater Than 80%, less than or equal to 85% 12,986,147.88
Greater than 85%, less than or equal to 95% 78,101,577.38
Greater than 95% 873,586.88
</TABLE>
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