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 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 November 25, 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
Monthly report distributed to holders of
EX-99.1 Mortgage Pass-Through Certificates, Series
1998-12 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 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: 12/03/98
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 November
25, 1998 distribution.
<TABLE>
<CAPTION>
Norwest Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 10/30/98
Distribution Date: 11/25/98
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% 38,213,356.78 214,950.13 969,175.70
A-2 66937NP51 SEQ 6.75000% 22,776,029.15 128,115.16 1,206,410.50
A-3 66937NP69 SEQ 6.75000% 243,070,977.85 1,367,274.25 9,183,281.38
A-4 66937NP77 SEQ 6.75000% 113,333,793.80 637,502.59 4,093,498.98
A-5 66937NP85 SEQ 6.75000% 47,093,387.16 264,900.30 1,576,715.03
A-6 66937NP93 SEQ 6.75000% 57,124,101.36 321,323.07 1,560,053.86
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 0.00 0.00
APO NMB9812PO PO 0.00000% 583,584.71 0.00 590.80
B-1 66937NQ84 SUB 6.75000% 12,761,076.12 71,781.05 10,098.33
B-2 66937NQ92 SUB 6.75000% 10,367,440.50 58,316.85 8,204.16
B-3 66937NR26 SUB 6.75000% 3,588,959.27 20,187.90 2,840.08
B-4 66937NT32 SUB 6.75000% 2,391,643.41 13,452.99 1,892.60
B-5 66937NT40 SUB 6.75000% 1,595,757.08 8,976.13 1,262.78
B-6 66937NT57 SUB 6.75000% 1,993,985.80 11,216.17 983.83
Totals 766,228,252.99 4,306,751.23 18,615,008.03
</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 37,244,181.08 1,184,125.83 0.00
A-2 0.00 21,569,618.66 1,334,525.66 0.00
A-3 0.00 233,887,696.48 10,550,555.63 0.00
A-4 0.00 109,240,294.82 4,731,001.57 0.00
A-5 0.00 45,516,672.13 1,841,615.33 0.00
A-6 0.00 55,564,047.50 1,881,376.93 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 0.00 0.00
APO 0.00 582,993.92 590.80 0.00
B-1 0.00 12,750,977.79 81,879.38 0.00
B-2 0.00 10,359,236.34 66,521.01 0.00
B-3 0.00 3,586,119.19 23,027.98 0.00
B-4 0.00 2,389,750.81 15,345.59 0.00
B-5 0.00 1,594,494.29 10,238.91 0.00
B-6 594.09 1,992,407.88 12,200.00 1,531.14
Totals 594.09 747,612,650.89 22,921,759.26 1,531.14
<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 38,213,356.78 30,239.70 938,936.00 0.00 0.00
A-2 25,000,000.00 22,776,029.15 37,641.77 1,168,768.72 0.00 0.00
A-3 260,000,000.00 243,070,977.85 286,531.83 8,896,749.55 0.00 0.00
A-4 120,880,000.00 113,333,793.80 127,723.16 3,965,775.82 0.00 0.00
A-5 50,000,000.00 47,093,387.16 49,195.82 1,527,519.21 0.00 0.00
A-6 60,000,000.00 57,124,101.36 48,675.97 1,511,377.90 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 589,739.45 583,584.71 541.00 49.80 0.00 0.00
B-1 12,811,000.00 12,761,076.12 10,098.33 0.00 0.00 0.00
B-2 10,408,000.00 10,367,440.50 8,204.16 0.00 0.00 0.00
B-3 3,603,000.00 3,588,959.27 2,840.08 0.00 0.00 0.00
B-4 2,401,000.00 2,391,643.41 1,892.60 0.00 0.00 0.00
B-5 1,602,000.00 1,595,757.08 1,262.78 0.00 0.00 0.00
B-6 2,001,786.63 1,993,985.80 983.83 0.00 0.00 594.09
Totals 800,630,786.08 766,228,252.99 605,831.03 18,009,177.00 0.00 594.09
<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-1 969,175.70 37,244,181.08 0.93110453 969,175.70
A-2 1,206,410.50 21,569,618.66 0.86278475 1,206,410.50
A-3 9,183,281.38 233,887,696.48 0.89956806 9,183,281.38
A-4 4,093,498.98 109,240,294.82 0.90370859 4,093,498.98
A-5 1,576,715.03 45,516,672.13 0.91033344 1,576,715.03
A-6 1,560,053.86 55,564,047.50 0.92606746 1,560,053.86
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 590.80 582,993.92 0.98856185 590.80
B-1 10,098.33 12,750,977.79 0.99531479 10,098.33
B-2 8,204.16 10,359,236.34 0.99531479 8,204.16
B-3 2,840.08 3,586,119.19 0.99531479 2,840.08
B-4 1,892.60 2,389,750.81 0.99531479 1,892.60
B-5 1,262.78 1,594,494.29 0.99531479 1,262.78
B-6 1,577.92 1,992,407.88 0.99531481 983.83
Totals 18,615,602.12 747,612,650.89 0.93377954 18,615,008.03
</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 40,000,000.00 955.33391950 0.75599250 23.47340000 0.00000000
A-2 25,000,000.00 911.04116600 1.50567080 46.75074880 0.00000000
A-3 260,000,000.00 934.88837635 1.10204550 34.21826750 0.00000000
A-4 120,880,000.00 937.57274818 1.05661118 32.80754318 0.00000000
A-5 50,000,000.00 941.86774320 0.98391640 30.55038420 0.00000000
A-6 60,000,000.00 952.06835600 0.81126617 25.18963167 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 589,739.45 989.56362848 0.91735427 0.08444407 0.00000000
B-1 12,811,000.00 996.10304582 0.78825462 0.00000000 0.00000000
B-2 10,408,000.00 996.10304573 0.78825519 0.00000000 0.00000000
B-3 3,603,000.00 996.10304468 0.78825423 0.00000000 0.00000000
B-4 2,401,000.00 996.10304456 0.78825489 0.00000000 0.00000000
B-5 1,602,000.00 996.10304619 0.78825218 0.00000000 0.00000000
B-6 2,001,786.63 996.10306619 0.49147596 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 24.22939250 931.10452700 0.93110453 24.22939250
A-2 0.00000000 48.25642000 862.78474640 0.86278475 48.25642000
A-3 0.00000000 35.32031300 899.56806338 0.89956806 35.32031300
A-4 0.00000000 33.86415437 903.70859381 0.90370859 33.86415437
A-5 0.00000000 31.53430060 910.33344260 0.91033344 31.53430060
A-6 0.00000000 26.00089767 926.06745833 0.92606746 26.00089767
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 1.00179834 988.56184710 0.98856185 1.00179834
B-1 0.00000000 0.78825462 995.31479120 0.99531479 0.78825462
B-2 0.00000000 0.78825519 995.31479055 0.99531479 0.78825519
B-3 0.00000000 0.78825423 995.31479045 0.99531479 0.78825423
B-4 0.00000000 0.78825489 995.31478967 0.99531479 0.78825489
B-5 0.00000000 0.78825218 995.31478777 0.99531479 0.78825218
B-6 0.29677988 0.78825584 995.31481035 0.99531481 0.49147596
<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% 38,213,356.78 214,950.13 0.00 0.00
A-2 25,000,000.00 6.75000% 22,776,029.15 128,115.16 0.00 0.00
A-3 260,000,000.00 6.75000% 243,070,977.85 1,367,274.25 0.00 0.00
A-4 120,880,000.00 6.75000% 113,333,793.80 637,502.59 0.00 0.00
A-5 50,000,000.00 6.75000% 47,093,387.16 264,900.30 0.00 0.00
A-6 60,000,000.00 6.75000% 57,124,101.36 321,323.07 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% 583,584.71 0.00 0.00 0.00
B-1 12,811,000.00 6.75000% 12,761,076.12 71,781.05 0.00 0.00
B-2 10,408,000.00 6.75000% 10,367,440.50 58,316.85 0.00 0.00
B-3 3,603,000.00 6.75000% 3,588,959.27 20,187.90 0.00 0.00
B-4 2,401,000.00 6.75000% 2,391,643.41 13,452.99 0.00 0.00
B-5 1,602,000.00 6.75000% 1,595,757.08 8,976.13 0.00 0.00
B-6 2,001,786.63 6.75000% 1,993,985.80 11,216.17 0.00 0.00
Totals 800,630,786.08 4,306,751.23 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 0.00 214,950.13 0.00 37,244,181.08
A-2 0.00 0.00 128,115.16 0.00 21,569,618.66
A-3 0.00 0.00 1,367,274.25 0.00 233,887,696.48
A-4 0.00 0.00 637,502.59 0.00 109,240,294.82
A-5 0.00 0.00 264,900.30 0.00 45,516,672.13
A-6 0.00 0.00 321,323.07 0.00 55,564,047.50
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 0.00 0.00 0.00
APO 0.00 0.00 0.00 0.00 582,993.92
B-1 0.00 0.00 71,781.05 0.00 12,750,977.79
B-2 0.00 0.00 58,316.85 0.00 10,359,236.34
B-3 0.00 0.00 20,187.90 0.00 3,586,119.19
B-4 0.00 0.00 13,452.99 0.00 2,389,750.81
B-5 0.00 0.00 8,976.13 0.00 1,594,494.29
B-6 0.00 0.00 11,216.17 0.00 1,992,407.88
Totals 0.00 0.00 4,306,751.23 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% 955.33391950 5.37375325 0.00000000 0.00000000
A-2 25,000,000.00 6.75000% 911.04116600 5.12460640 0.00000000 0.00000000
A-3 260,000,000.00 6.75000% 934.88837635 5.25874712 0.00000000 0.00000000
A-4 120,880,000.00 6.75000% 937.57274818 5.27384671 0.00000000 0.00000000
A-5 50,000,000.00 6.75000% 941.86774320 5.29800600 0.00000000 0.00000000
A-6 60,000,000.00 6.75000% 952.06835600 5.35538450 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% 989.56362848 0.00000000 0.00000000 0.00000000
B-1 12,811,000.00 6.75000% 996.10304582 5.60307938 0.00000000 0.00000000
B-2 10,408,000.00 6.75000% 996.10304573 5.60307936 0.00000000 0.00000000
B-3 3,603,000.00 6.75000% 996.10304468 5.60308077 0.00000000 0.00000000
B-4 2,401,000.00 6.75000% 996.10304456 5.60307788 0.00000000 0.00000000
B-5 1,602,000.00 6.75000% 996.10304619 5.60307740 0.00000000 0.00000000
B-6 2,001,786.63 6.75000% 996.10306619 5.60307968 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 5.37375325 0.00000000 931.10452700
A-2 0.00000000 0.00000000 5.12460640 0.00000000 862.78474640
A-3 0.00000000 0.00000000 5.25874712 0.00000000 899.56806338
A-4 0.00000000 0.00000000 5.27384671 0.00000000 903.70859381
A-5 0.00000000 0.00000000 5.29800600 0.00000000 910.33344260
A-6 0.00000000 0.00000000 5.35538450 0.00000000 926.06745833
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 0.00000000 0.00000000 0.00000000
APO 0.00000000 0.00000000 0.00000000 0.00000000 988.56184710
B-1 0.00000000 0.00000000 5.60307938 0.00000000 995.31479120
B-2 0.00000000 0.00000000 5.60307936 0.00000000 995.31479055
B-3 0.00000000 0.00000000 5.60308077 0.00000000 995.31479045
B-4 0.00000000 0.00000000 5.60307788 0.00000000 995.31478967
B-5 0.00000000 0.00000000 5.60307740 0.00000000 995.31478777
B-6 0.00000000 0.00000000 5.60307968 0.00000000 995.31481035
<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 0.00
Deposits
Payments of Interest and Principal 23,166,903.50
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 67,482.20
Realized Losses 0.00
Total Deposits 23,234,385.70
Withdrawals
Reimbursement for Servicer Advances 161,756.86
Payment of Service Fee 150,869.54
Payment of Interest and Principal 22,921,759.28
Total Withdrawals (Pool Distribution Amount) 23,234,385.68
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 21,152.23
Servicing Fee Support 21,152.23
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 161,166.97
Master Servicing Fee 10,854.82
Supported Prepayment/Curtailment Interest Shortfall 21,152.23
Net Servicing Fee 150,869.56
</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 1,908,573.85 0.215889% 0.255289%
60 Days 1 232,681.66 0.043178% 0.031123%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 1 294,571.62 0.043178% 0.039402%
REO 0 0.00 0.000000% 0.000000%
Totals 7 2,435,827.13 0.302245% 0.325814%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 594.09
Cumulative Realized Losses - Includes Interest Shortfall 1,531.14
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 1,157,369.43
</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% 32,672,986.30 4.37030945% 95.626280% 100.000000%
Class B-1 20,015,786.63 2.50000212% 19,922,008.51 2.66475005% 1.706890% 0.000000%
Class B-2 9,607,786.63 1.20002713% 9,562,772.17 1.27910786% 1.386724% 0.000000%
Class B-3 6,004,786.63 0.75000696% 5,976,652.98 0.79943176% 0.480050% 0.000000%
Class B-4 3,603,786.63 0.45011842% 3,586,902.17 0.47978083% 0.319900% 0.000000%
Class B-5 2,001,786.63 0.25002619% 1,992,407.88 0.26650270% 0.213445% 0.000000%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.266711% 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 0.01337591%
Fraud 3,506,362.62 0.43795001% 3,506,362.62 0.46900793%
Special Hazard 1,993,893.18 0.24904028% 1,993,893.18 0.26670137%
<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 7.457669%
Weighted Average Pass-Through Rate 6.750000%
Weighted Average Maturity(Stepdown Calculation ) 351
Begin Scheduled Collateral Loan Count 2,367
Number Of Loans Paid In Full 51
End Scheduled Collateral Loan Count 2,316
Begining Scheduled Collateral Balance 766,228,253.00
Ending Scheduled Collateral Balance 747,612,650.89
Ending Actual Collateral Balance at 30-Oct-1998 751,943,734.68
Ending Scheduled Balance For Norwest 615,601,835.56
Ending Scheduled Balance For Other Services 132,010,815.33
Monthly P &I Constant 5,097,913.18
Class A Optimal Amount 22,711,955.59
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 694,707,859.81
Ending scheduled Balance For discounted Loans 52,904,791.08
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 657,361,952.55
Greater Than 80%, less than or equal to 85% 12,675,246.27
Greater than 85%, less than or equal to 95% 76,826,386.03
Greater than 95% 872,914.64
</TABLE>
