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): August 25, 1998
NORWEST ASSET SECURITIES CORPORATION
Mortgage Pass-Through Certificates, Series 1998-15 Trust
New York (governing law of 333-45021-12 52-2111670
Pooling and Servicing Agreement) (Commission 52-2111671
(State or other File Number) IRS EIN
jurisdiction
c/o Norwest Bank Minnesota, N.A.
7485 New Horizon Way 21703
Frederick, Maryland (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (301) 696-7900
Former name or former address, if changed since last report)
ITEM 5. Other Events
On August 25, 1998 a distribution was made to holders of NORWEST ASSET
SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 1998-15
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-Trust,
relating to the August 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 1998-15 Trust
By: Norwest Bank Minnesota, N.A., as Master Servicer
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 8/26/98
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1998-15 Trust, relating to the August 25,
1998 distribution.
<TABLE>
<CAPTION>
Norwest Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 7/31/98
Distribution Date: 8/25/98
NASCOR Series: 1998-15
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>
APO NMB9815PO PO 0.00000% 648,550.15 0.00 657.61
A-1 66937NU48 PAC 6.65000% 68,147,000.00 377,647.96 0.00
A-2 66937NU55 PAC 6.75000% 33,421,000.00 187,993.12 0.00
A-3 66937NU63 IO 6.75000% 0.00 5,678.92 0.00
A-4 66937NU71 SCH 7.00000% 24,181,841.04 141,060.74 134,703.87
A-5 66937NU89 SCH 7.00000% 19,894,128.80 116,049.08 136,804.29
A-6 66937NU97 SEQ 7.00000% 3,236,530.11 18,879.76 607,089.87
A-7 66937NV21 SEQ 7.00000% 338,965.83 1,977.30 -1,977.30
A-8 66937NV39 SCH 7.00000% 79,585,858.11 464,250.84 388,076.36
A-9 66937NV47 SEQ 7.00000% 8,587,033.07 50,091.03 1,360,386.20
A-10 66937NV54 SEQ 7.00000% 4,549,384.17 26,538.07 -26,538.07
A-11 66937NV62 SEQ 7.00000% 666,867.50 3,890.06 -3,890.06
A-12 66937NV70 PO 0.00000% 5,223,726.25 0.00 96,098.34
A-13 66937NV88 TAC 6.75000% 140,571,761.36 790,716.16 370,609.79
A-14 66937NV96 TAC 6.70000% 124,708,801.78 696,290.81 328,787.96
A-15 66937NW20 TAC 8.00000% 4,988,352.07 33,255.68 13,151.52
A-16 66937NW38 SEQ 6.75000% 18,201,025.37 102,380.77 2,839,117.87
A-17 66937NW46 SEQ 6.30000% 20,000,000.00 105,000.00 0.00
A-18 66937NW53 IO 0.39000% 0.00 6,500.00 0.00
A-19 66937NW61 SEQ 6.75000% 115,890,000.00 651,881.25 0.00
A-20 66937NW79 SEQ 6.75000% 18,657,000.00 104,945.62 0.00
A-R 66937NW87 R 6.75000% 100.00 0.56 0.00
A-LR 66937NW95 ALR 6.75000% 100.00 0.56 0.00
B-1 66937NX37 SUB 6.75000% 10,871,604.30 61,152.77 8,475.20
B-2 66937NX45 SUB 6.75000% 9,421,723.98 52,997.20 7,344.91
B-3 66937NX29 SUB 6.75000% 3,261,481.29 18,345.83 2,542.56
B-4 66937NX52 SUB 6.75000% 2,175,320.09 12,236.18 1,695.82
B-5 66937NX60 SUB 6.75000% 1,448,881.09 8,149.96 1,129.51
B-6 66937NX78 SUB 6.75000% 1,812,626.92 10,068.20 0.00
Totals 720,489,663.28 4,047,978.43 6,264,266.25
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
APO 0.00 647,892.54 657.61 0.00
A-1 0.00 68,147,000.00 377,647.96 0.00
A-2 0.00 33,421,000.00 187,993.12 0.00
A-3 0.00 0.00 5,678.92 0.00
A-4 0.00 24,047,137.17 275,764.61 0.00
A-5 0.00 19,757,324.51 252,853.37 0.00
A-6 0.00 2,629,440.24 625,969.63 0.00
A-7 0.00 340,943.13 0.00 0.00
A-8 0.00 79,197,781.75 852,327.20 0.00
A-9 0.00 7,226,646.88 1,410,477.23 0.00
A-10 0.00 4,575,922.24 0.00 0.00
A-11 0.00 670,757.56 0.00 0.00
A-12 0.00 5,127,627.91 96,098.34 0.00
A-13 0.00 140,201,151.57 1,161,325.95 0.00
A-14 0.00 124,380,013.81 1,025,078.77 0.00
A-15 0.00 4,975,200.55 46,407.20 0.00
A-16 0.00 15,361,907.50 2,941,498.64 0.00
A-17 0.00 20,000,000.00 105,000.00 0.00
A-18 0.00 0.00 6,500.00 0.00
A-19 0.00 115,890,000.00 651,881.25 0.00
A-20 0.00 18,657,000.00 104,945.62 0.00
A-R 0.00 100.00 0.56 0.00
A-LR 0.00 100.00 0.56 0.00
B-1 0.00 10,863,129.10 69,627.97 0.00
B-2 0.00 9,414,379.07 60,342.11 0.00
B-3 0.00 3,258,938.73 20,888.39 0.00
B-4 0.00 2,173,624.27 13,932.00 0.00
B-5 0.00 1,447,751.58 9,279.47 0.00
B-6 1,413.06 1,811,213.86 10,068.20 1,851.61
Totals 1,413.06 714,223,983.97 10,312,244.68 1,851.61
<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>
APO 649,200.83 648,550.15 568.99 88.62 0.00 0.00
A-1 68,147,000.00 68,147,000.00 0.00 0.00 0.00 0.00
A-2 33,421,000.00 33,421,000.00 0.00 0.00 0.00 0.00
A-3 0.00 0.00 0.00 0.00 0.00 0.00
A-4 24,300,000.00 24,181,841.04 11,621.62 123,082.25 0.00 0.00
A-5 20,000,000.00 19,894,128.80 11,802.83 125,001.46 0.00 0.00
A-6 3,692,000.00 3,236,530.11 54,005.73 571,963.90 -18,879.75 0.00
A-7 337,000.00 338,965.83 0.00 0.00 -1,977.30 0.00
A-8 79,931,000.00 79,585,858.11 33,481.41 354,594.95 0.00 0.00
A-9 9,600,000.00 8,587,033.07 121,689.37 1,288,787.86 -50,091.03 0.00
A-10 4,523,000.00 4,549,384.17 0.00 0.00 -26,538.07 0.00
A-11 663,000.00 666,867.50 0.00 0.00 -3,890.06 0.00
A-12 5,298,000.00 5,223,726.25 8,290.91 87,807.42 0.00 0.00
A-13 140,900,000.00 140,571,761.36 31,974.48 338,635.31 0.00 0.00
A-14 125,000,000.00 124,708,801.78 28,366.29 300,421.68 0.00 0.00
A-15 5,000,000.00 4,988,352.07 1,134.65 12,016.87 0.00 0.00
A-16 20,315,000.00 18,201,025.37 253,778.73 2,687,719.91 -102,380.77 0.00
A-17 20,000,000.00 20,000,000.00 0.00 0.00 0.00 0.00
A-18 0.00 0.00 0.00 0.00 0.00 0.00
A-19 115,890,000.00 115,890,000.00 0.00 0.00 0.00 0.00
A-20 18,657,000.00 18,657,000.00 0.00 0.00 0.00 0.00
A-R 100.00 100.00 0.00 0.00 0.00 0.00
A-LR 100.00 100.00 0.00 0.00 0.00 0.00
B-1 10,880,000.00 10,871,604.30 8,475.20 0.00 0.00 0.00
B-2 9,429,000.00 9,421,723.98 7,344.91 0.00 0.00 0.00
B-3 3,264,000.00 3,261,481.29 2,542.56 0.00 0.00 0.00
B-4 2,177,000.00 2,175,320.09 1,695.82 0.00 0.00 0.00
B-5 1,450,000.00 1,448,881.09 1,129.51 0.00 0.00 0.00
B-6 1,814,026.74 1,812,626.92 0.00 0.00 0.00 1,413.06
Totals 725,337,427.57 720,489,663.28 577,903.01 5,890,120.23 (203,756.98) 1,413.06
<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>
APO 657.61 647,892.54 0.99798477 657.61
A-1 0.00 68,147,000.00 1.00000000 0.00
A-2 0.00 33,421,000.00 1.00000000 0.00
A-3 0.00 0.00 0.00000000 0.00
A-4 134,703.87 24,047,137.17 0.98959412 134,703.87
A-5 136,804.29 19,757,324.51 0.98786623 136,804.29
A-6 607,089.87 2,629,440.24 0.71219941 607,089.87
A-7 (1,977.30) 340,943.13 1.01170068 (1,977.30)
A-8 388,076.36 79,197,781.75 0.99082686 388,076.36
A-9 1,360,386.20 7,226,646.88 0.75277572 1,360,386.20
A-10 (26,538.07) 4,575,922.24 1.01170069 (26,538.07)
A-11 (3,890.06) 670,757.56 1.01170069 (3,890.06)
A-12 96,098.34 5,127,627.91 0.96784219 96,098.34
A-13 370,609.79 140,201,151.57 0.99504011 370,609.79
A-14 328,787.96 124,380,013.81 0.99504011 328,787.96
A-15 13,151.52 4,975,200.55 0.99504011 13,151.52
A-16 2,839,117.87 15,361,907.50 0.75618545 2,839,117.87
A-17 0.00 20,000,000.00 1.00000000 0.00
A-18 0.00 0.00 0.00000000 0.00
A-19 0.00 115,890,000.00 1.00000000 0.00
A-20 0.00 18,657,000.00 1.00000000 0.00
A-R 0.00 100.00 1.00000000 0.00
A-LR 0.00 100.00 1.00000000 0.00
B-1 8,475.20 10,863,129.10 0.99844937 8,475.20
B-2 7,344.91 9,414,379.07 0.99844937 7,344.91
B-3 2,542.56 3,258,938.73 0.99844937 2,542.56
B-4 1,695.82 2,173,624.27 0.99844937 1,695.82
B-5 1,129.51 1,447,751.58 0.99844937 1,129.51
B-6 1,413.06 1,811,213.86 0.99844937 0.00
Totals 6,265,679.31 714,223,983.97 0.98467824 6,264,266.25
</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>
APO 649,200.83 998.99772155 0.87644682 0.13650629 0.00000000
A-1 68,147,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-2 33,421,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-3 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-4 24,300,000.00 995.13749136 0.47825597 5.06511317 0.00000000
A-5 20,000,000.00 994.70644000 0.59014150 6.25007300 0.00000000
A-6 3,692,000.00 876.63329090 14.62777086 154.91979957 -5.11369177
A-7 337,000.00 1005.83332344 0.00000000 0.00000000 -5.86735905
A-8 79,931,000.00 995.68200210 0.41887891 4.43626315 0.00000000
A-9 9,600,000.00 894.48261146 12.67597604 134.24873542 -5.21781563
A-10 4,523,000.00 1005.83333407 0.00000000 0.00000000 -5.86736016
A-11 663,000.00 1005.83333333 0.00000000 0.00000000 -5.86736048
A-12 5,298,000.00 985.98079464 1.56491317 16.57369196 0.00000000
A-13 140,900,000.00 997.67041419 0.22693031 2.40337339 0.00000000
A-14 125,000,000.00 997.67041424 0.22693032 2.40337344 0.00000000
A-15 5,000,000.00 997.67041400 0.22693000 2.40337400 0.00000000
A-16 20,315,000.00 895.94021019 12.49218459 132.30223529 -5.03966380
A-17 20,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-18 0.00 0.00000000 0.00000000 0.00000000 0.00000000
A-19 115,890,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-20 18,657,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-R 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-LR 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-1 10,880,000.00 999.22833640 0.77897059 0.00000000 0.00000000
B-2 9,429,000.00 999.22833598 0.77897020 0.00000000 0.00000000
B-3 3,264,000.00 999.22833640 0.77897059 0.00000000 0.00000000
B-4 2,177,000.00 999.22833716 0.77897106 0.00000000 0.00000000
B-5 1,450,000.00 999.22833793 0.77897241 0.00000000 0.00000000
B-6 1,814,026.74 999.22833552 0.00000000 0.00000000 0.00000000
<FN>
(2) Per $1,000 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>
APO 0.00000000 1.01295311 997.98476844 0.99798477 1.01295311
A-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-4 0.00000000 5.54336914 989.59412222 0.98959412 5.54336914
A-5 0.00000000 6.84021450 987.86622550 0.98786623 6.84021450
A-6 0.00000000 164.43387595 712.19941495 0.71219941 164.43387595
A-7 0.00000000 -5.86735905 1,011.70068249 1.01170068 -5.86735905
A-8 0.00000000 4.85514206 990.82686004 0.99082686 4.85514206
A-9 0.00000000 141.70689583 752.77571667 0.75277572 141.70689583
A-10 0.00000000 -5.86736016 1,011.70069423 1.01170069 -5.86736016
A-11 0.00000000 -5.86736048 1,011.70069382 1.01170069 -5.86736048
A-12 0.00000000 18.13860702 967.84218762 0.96784219 18.13860702
A-13 0.00000000 2.63030369 995.04011050 0.99504011 2.63030369
A-14 0.00000000 2.63030368 995.04011048 0.99504011 2.63030368
A-15 0.00000000 2.63030400 995.04011000 0.99504011 2.63030400
A-16 0.00000000 139.75475609 756.18545410 0.75618545 139.75475609
A-17 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-18 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-19 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-20 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-R 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-LR 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-1 0.00000000 0.77897059 998.44936581 0.99844937 0.77897059
B-2 0.00000000 0.77897020 998.44936579 0.99844937 0.77897020
B-3 0.00000000 0.77897059 998.44936581 0.99844937 0.77897059
B-4 0.00000000 0.77897106 998.44936610 0.99844937 0.77897106
B-5 0.00000000 0.77897241 998.44936552 0.99844937 0.77897241
B-6 0.77896316 0.77896316 998.44937236 0.99844937 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>
APO 649,200.83 0.00000% 648,550.15 0.00 0.00 0.00
A-1 68,147,000.00 6.65000% 68,147,000.00 377,647.96 0.00 0.00
A-2 33,421,000.00 6.75000% 33,421,000.00 187,993.12 0.00 0.00
A-3 0.00 6.75000% 1,009,585.19 5,678.92 0.00 0.00
A-4 24,300,000.00 7.00000% 24,181,841.04 141,060.74 0.00 0.00
A-5 20,000,000.00 7.00000% 19,894,128.80 116,049.08 0.00 0.00
A-6 3,692,000.00 7.00000% 3,236,530.11 18,879.76 0.00 0.00
A-7 337,000.00 7.00000% 338,965.83 1,977.30 0.00 0.00
A-8 79,931,000.00 7.00000% 79,585,858.11 464,250.84 0.00 0.00
A-9 9,600,000.00 7.00000% 8,587,033.07 50,091.03 0.00 0.00
A-10 4,523,000.00 7.00000% 4,549,384.17 26,538.07 0.00 0.00
A-11 663,000.00 7.00000% 666,867.50 3,890.06 0.00 0.00
A-12 5,298,000.00 0.00000% 5,223,726.25 0.00 0.00 0.00
A-13 140,900,000.00 6.75000% 140,571,761.36 790,716.16 0.00 0.00
A-14 125,000,000.00 6.70000% 124,708,801.78 696,290.81 0.00 0.00
A-15 5,000,000.00 8.00000% 4,988,352.07 33,255.68 0.00 0.00
A-16 20,315,000.00 6.75000% 18,201,025.37 102,380.77 0.00 0.00
A-17 20,000,000.00 6.30000% 20,000,000.00 105,000.00 0.00 0.00
A-18 0.00 0.39000% 20,000,000.00 6,500.00 0.00 0.00
A-19 115,890,000.00 6.75000% 115,890,000.00 651,881.25 0.00 0.00
A-20 18,657,000.00 6.75000% 18,657,000.00 104,945.62 0.00 0.00
A-R 100.00 6.75000% 100.00 0.56 0.00 0.00
A-LR 100.00 6.75000% 100.00 0.56 0.00 0.00
B-1 10,880,000.00 6.75000% 10,871,604.30 61,152.77 0.00 0.00
B-2 9,429,000.00 6.75000% 9,421,723.98 52,997.20 0.00 0.00
B-3 3,264,000.00 6.75000% 3,261,481.29 18,345.83 0.00 0.00
B-4 2,177,000.00 6.75000% 2,175,320.09 12,236.18 0.00 0.00
B-5 1,450,000.00 6.75000% 1,448,881.09 8,149.96 0.00 0.00
B-6 1,814,026.74 6.75000% 1,812,626.92 10,196.03 0.00 127.83
Totals 725,337,427.57 4,048,106.26 0.00 127.83
</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>
APO 0.00 0.00 0.00 0.00 647,892.54
A-1 0.00 0.00 377,647.96 0.00 68,147,000.00
A-2 0.00 0.00 187,993.12 0.00 33,421,000.00
A-3 0.00 0.00 5,678.92 0.00 1,009,585.19
A-4 0.00 0.00 141,060.74 0.00 24,047,137.17
A-5 0.00 0.00 116,049.08 0.00 19,757,324.51
A-6 0.00 0.00 18,879.76 0.00 2,629,440.24
A-7 0.00 0.00 1,977.30 0.00 340,943.13
A-8 0.00 0.00 464,250.84 0.00 79,197,781.75
A-9 0.00 0.00 50,091.03 0.00 7,226,646.88
A-10 0.00 0.00 26,538.07 0.00 4,575,922.24
A-11 0.00 0.00 3,890.06 0.00 670,757.56
A-12 0.00 0.00 0.00 0.00 5,127,627.91
A-13 0.00 0.00 790,716.16 0.00 140,201,151.57
A-14 0.00 0.00 696,290.81 0.00 124,380,013.81
A-15 0.00 0.00 33,255.68 0.00 4,975,200.55
A-16 0.00 0.00 102,380.77 0.00 15,361,907.50
A-17 0.00 0.00 105,000.00 0.00 20,000,000.00
A-18 0.00 0.00 6,500.00 0.00 20,000,000.00
A-19 0.00 0.00 651,881.25 0.00 115,890,000.00
A-20 0.00 0.00 104,945.62 0.00 18,657,000.00
A-R 0.00 0.00 0.56 0.00 100.00
A-LR 0.00 0.00 0.56 0.00 100.00
B-1 0.00 0.00 61,152.77 0.00 10,863,129.10
B-2 0.00 0.00 52,997.20 0.00 9,414,379.07
B-3 0.00 0.00 18,345.83 0.00 3,258,938.73
B-4 0.00 0.00 12,236.18 0.00 2,173,624.27
B-5 0.00 0.00 8,149.96 0.00 1,447,751.58
B-6 0.00 0.00 10,068.20 127.83 1,811,213.86
Totals 0.00 0.00 4,047,978.43 127.83
<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>
APO 649,200.83 0.00000% 998.99772155 0.00000000 0.00000000 0.00000000
A-1 68,147,000.00 6.65000% 1000.00000000 5.54166669 0.00000000 0.00000000
A-2 33,421,000.00 6.75000% 1000.00000000 5.62499985 0.00000000 0.00000000
A-3 0.00 6.75000% 1000.00000000 5.62500327 0.00000000 0.00000000
A-4 24,300,000.00 7.00000% 995.13749136 5.80496872 0.00000000 0.00000000
A-5 20,000,000.00 7.00000% 994.70644000 5.80245400 0.00000000 0.00000000
A-6 3,692,000.00 7.00000% 876.63329090 5.11369447 0.00000000 0.00000000
A-7 337,000.00 7.00000% 1005.83332344 5.86735905 0.00000000 0.00000000
A-8 79,931,000.00 7.00000% 995.68200210 5.80814503 0.00000000 0.00000000
A-9 9,600,000.00 7.00000% 894.48261146 5.21781562 0.00000000 0.00000000
A-10 4,523,000.00 7.00000% 1005.83333407 5.86736016 0.00000000 0.00000000
A-11 663,000.00 7.00000% 1005.83333333 5.86736048 0.00000000 0.00000000
A-12 5,298,000.00 0.00000% 985.98079464 0.00000000 0.00000000 0.00000000
A-13 140,900,000.00 6.75000% 997.67041419 5.61189610 0.00000000 0.00000000
A-14 125,000,000.00 6.70000% 997.67041424 5.57032648 0.00000000 0.00000000
A-15 5,000,000.00 8.00000% 997.67041400 6.65113600 0.00000000 0.00000000
A-16 20,315,000.00 6.75000% 895.94021019 5.03966380 0.00000000 0.00000000
A-17 20,000,000.00 6.30000% 1000.00000000 5.25000000 0.00000000 0.00000000
A-18 0.00 0.39000% 1000.00000000 0.32500000 0.00000000 0.00000000
A-19 115,890,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-20 18,657,000.00 6.75000% 1000.00000000 5.62499973 0.00000000 0.00000000
A-R 100.00 6.75000% 1000.00000000 5.60000000 0.00000000 0.00000000
A-LR 100.00 6.75000% 1000.00000000 5.60000000 0.00000000 0.00000000
B-1 10,880,000.00 6.75000% 999.22833640 5.62065901 0.00000000 0.00000000
B-2 9,429,000.00 6.75000% 999.22833598 5.62065967 0.00000000 0.00000000
B-3 3,264,000.00 6.75000% 999.22833640 5.62065870 0.00000000 0.00000000
B-4 2,177,000.00 6.75000% 999.22833716 5.62066146 0.00000000 0.00000000
B-5 1,450,000.00 6.75000% 999.22833793 5.62066207 0.00000000 0.00000000
B-6 1,814,026.74 6.75000% 999.22833552 5.62066136 0.00000000 0.07046754
<FN>
(5) Per $1,000 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>
APO 0.00000000 0.00000000 0.00000000 0.00000000 997.98476844
A-1 0.00000000 0.00000000 5.54166669 0.00000000 1000.00000000
A-2 0.00000000 0.00000000 5.62499985 0.00000000 1000.00000000
A-3 0.00000000 0.00000000 5.62500327 0.00000000 1000.00000000
A-4 0.00000000 0.00000000 5.80496872 0.00000000 989.59412222
A-5 0.00000000 0.00000000 5.80245400 0.00000000 987.86622550
A-6 0.00000000 0.00000000 5.11369447 0.00000000 712.19941495
A-7 0.00000000 0.00000000 5.86735905 0.00000000 1011.70068249
A-8 0.00000000 0.00000000 5.80814503 0.00000000 990.82686004
A-9 0.00000000 0.00000000 5.21781562 0.00000000 752.77571667
A-10 0.00000000 0.00000000 5.86736016 0.00000000 1011.70069423
A-11 0.00000000 0.00000000 5.86736048 0.00000000 1011.70069382
A-12 0.00000000 0.00000000 0.00000000 0.00000000 967.84218762
A-13 0.00000000 0.00000000 5.61189610 0.00000000 995.04011050
A-14 0.00000000 0.00000000 5.57032648 0.00000000 995.04011048
A-15 0.00000000 0.00000000 6.65113600 0.00000000 995.04011000
A-16 0.00000000 0.00000000 5.03966380 0.00000000 756.18545410
A-17 0.00000000 0.00000000 5.25000000 0.00000000 1000.00000000
A-18 0.00000000 0.00000000 0.32500000 0.00000000 1000.00000000
A-19 0.00000000 0.00000000 5.62500000 0.00000000 1000.00000000
A-20 0.00000000 0.00000000 5.62499973 0.00000000 1000.00000000
A-R 0.00000000 0.00000000 5.60000000 0.00000000 1000.00000000
A-LR 0.00000000 0.00000000 5.60000000 0.00000000 1000.00000000
B-1 0.00000000 0.00000000 5.62065901 0.00000000 998.44936581
B-2 0.00000000 0.00000000 5.62065967 0.00000000 998.44936579
B-3 0.00000000 0.00000000 5.62065870 0.00000000 998.44936581
B-4 0.00000000 0.00000000 5.62066146 0.00000000 998.44936610
B-5 0.00000000 0.00000000 5.62066207 0.00000000 998.44936552
B-6 0.00000000 0.00000000 5.55019382 0.07046754 998.44937236
<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>
A-5 SCH 7.00000% 0.00 0.00 7,662,558.68 7,619,874.74 98.95941221%
A-5 SCH 7.00000% 0.00 0.00 12,231,570.12 12,137,449.77 98.67845341%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 60,461.27
Deposits
Payments of Interest and Principal 9,879,005.44
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 340,323.92
Other Amounts (Servicer Advances) 188,931.20
Realized Losses 0.00
Total Deposits 10,408,260.56
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 155,476.30
Payment of Interest and Principal 10,313,244.67
Total Withdrawals (Pool Distribution Amount) 10,468,720.97
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 7,184.71
Servicing Fee Support 7,184.71
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 152,458.66
Master Servicing Fee 10,203.23
Supported Prepayment/Curtailment Interest Shortfall 7,184.71
Net Servicing Fee 155,477.18
</TABLE>
<TABLE>
<CAPTION>
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<S> <C> <C> <C> <C>
Financial Guaranty 0.00 0.00 1,000.00 0.00
Reserve Fund 12,000.00 0.00 0.00 12,000.00
Reserve Fund 999.99 0.00 0.00 999.99
</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 4 1,335,016.32 0.181406% 0.186918%
60 Days 0 0.00 0.000000% 0.000000%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 4 1,335,016.32 0.181406% 0.186918%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 1,413.06
Cumulative Realized Losses - Includes Interest Shortfall 1,851.61
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 825,451.36
</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 29,014,026.74 4.00007302% 28,969,036.61 4.05601566% 95.940302% 100.000000%
Class B-1 18,134,026.74 2.50008149% 18,105,907.51 2.53504614% 1.522350% 0.000000%
Class B-2 8,705,026.74 1.20013478% 8,691,528.44 1.21691915% 1.319324% 0.000000%
Class B-3 5,441,026.74 0.75013732% 5,432,589.71 0.76062829% 0.456705% 0.000000%
Class B-4 3,264,026.74 0.45000115% 3,258,965.44 0.45629460% 0.304610% 0.000000%
Class B-5 1,814,026.74 0.25009419% 1,811,213.86 0.25359186% 0.202887% 0.000000%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.253822% 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 226,036.15 0.03116290% 226,036.15 0.03164780%
Fraud 14,506,748.55 2.00000000% 14,506,748.55 2.03112033%
Special Hazard 7,253,374.28 1.00000000% 7,253,374.28 1.01556017%
<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 7.449038%
Weighted Average Pass-Through Rate 6.750000%
Weighted Average Maturity(Stepdown Calculation ) 355
Begin Scheduled Collateral Loan Count 2,220
Number Of Loans Paid In Full 15
End Scheduled Collateral Loan Count 2,205
Begining Scheduled Collateral Balance 720,489,663.28
Ending Scheduled Collateral Balance 714,223,983.98
Ending Actual Collateral Balance at 31-Jul-1998 715,366,782.18
Ending Scheduled Balance For Norwest 634,958,314.01
Ending Scheduled Balance For Other Services 79,265,669.97
Monthly P &I Constant 4,775,966.44
Class A Optimal Amount 10,127,448.94
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 665,492,519.16
Ending scheduled Balance For discounted Loans 48,731,464.82
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 622,696,000.23
Greater Than 80%, less than or equal to 85% 15,565,266.21
Greater than 85%, less than or equal to 95% 76,042,307.24
Greater than 95% 0.00
</TABLE>