NORWEST ASSET SEC CORP MORT PASS THR CERT SER 1998- 15 TRUST
8-K, 1998-09-02
ASSET-BACKED SECURITIES
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                                  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>











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