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Previous: SHEPHERD STREET FUNDS INC, N-1A/A, 1998-10-01 |
Next: NORWEST ASSET SEC CORP MORT PASS THR CERT SER 1998-16 TRUST, 8-K, 1998-10-01 |
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): September 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.
11000 Broken Land Parkway 21044
Columbia, Maryland (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (410) 884-2000
c/o Norwest Bank Minnesota, N.A.
7485 New Horizon Way 21703
Frederick, Maryland (Zip Code)
(Former name or former address, if changed since last report)
ITEM 5. Other Events
On September 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 1998-15 Trust,
relating to the September 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: 09/28/1998
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 September
25, 1998 distribution.
<TABLE>
<CAPTION>
Norwest Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 08/31/1998
Distribution Date: 09/25/1998
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% 647,892.54 0.00 1,079.86
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% 24,047,137.17 140,274.97 151,216.61
A-5 66937NU89 SCH 7.00000% 19,757,324.51 115,251.06 167,685.59
A-6 66937NU97 SEQ 7.00000% 2,629,440.24 15,338.40 987,288.41
A-7 66937NV21 SEQ 7.00000% 340,943.13 1,988.83 -1,988.83
A-8 66937NV39 SCH 7.00000% 79,197,781.75 461,987.06 430,929.18
A-9 66937NV47 SEQ 7.00000% 7,226,646.88 42,155.44 2,155,700.36
A-10 66937NV54 SEQ 7.00000% 4,575,922.24 26,692.88 -26,692.88
A-11 66937NV62 SEQ 7.00000% 670,757.56 3,912.75 -3,912.75
A-12 66937NV70 PO 0.00000% 5,127,627.91 0.00 142,971.32
A-13 66937NV88 TAC 6.75000% 140,201,151.57 788,631.48 412,898.86
A-14 66937NV96 TAC 6.70000% 124,380,013.81 694,455.08 366,304.88
A-15 66937NW20 TAC 8.00000% 4,975,200.55 33,168.00 14,652.20
A-16 66937NW38 SEQ 6.75000% 15,361,907.50 86,410.73 4,490,174.47
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% 10,863,129.10 61,105.10 8,519.09
B-2 66937NX45 SUB 6.75000% 9,414,379.07 52,955.88 7,382.95
B-3 66937NX29 SUB 6.75000% 3,258,938.73 18,331.53 2,555.73
B-4 66937NX52 SUB 6.75000% 2,173,624.27 12,226.64 1,704.60
B-5 66937NX60 SUB 6.75000% 1,447,751.58 8,143.60 1,135.36
B-6 66937NX78 SUB 6.75000% 1,811,213.86 10,315.91 1,233.40
Totals 714,223,983.97 4,012,993.33 9,310,838.41
</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 0.00 646,812.69 1,079.86 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 23,895,920.56 291,491.58 0.00
A-5 0.00 19,589,638.92 282,936.65 0.00
A-6 0.00 1,642,151.83 1,002,626.81 0.00
A-7 0.00 342,931.97 0.00 0.00
A-8 0.00 78,766,852.57 892,916.24 0.00
A-9 0.00 5,070,946.51 2,197,855.80 0.00
A-10 0.00 4,602,615.12 0.00 0.00
A-11 0.00 674,670.31 0.00 0.00
A-12 0.00 4,984,656.58 142,971.32 0.00
A-13 0.00 139,788,252.71 1,201,530.34 0.00
A-14 0.00 124,013,708.94 1,060,759.96 0.00
A-15 0.00 4,960,548.36 47,820.20 0.00
A-16 0.00 10,871,733.03 4,576,585.20 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 10,854,610.01 69,624.19 0.00
B-2 0.00 9,406,996.12 60,338.83 0.00
B-3 0.00 3,256,383.00 20,887.26 0.00
B-4 0.00 2,171,919.67 13,931.24 0.00
B-5 0.00 1,446,616.22 9,278.96 0.00
B-6 186.99 1,809,793.47 11,549.31 2,038.60
Totals 186.99 704,912,958.59 13,323,831.74 2,038.60
<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 649,200.83 647,892.54 572.30 507.55 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 24,047,137.17 8,741.65 142,474.96 0.00 0.00
A-5 20,000,000.00 19,757,324.51 9,693.70 157,991.89 0.00 0.00
A-6 3,692,000.00 2,629,440.24 57,960.62 944,666.19 -15,338.40 0.00
A-7 337,000.00 340,943.13 0.00 0.00 -1,988.83 0.00
A-8 79,931,000.00 79,197,781.75 24,911.49 406,017.69 0.00 0.00
A-9 9,600,000.00 7,226,646.88 127,055.34 2,070,800.46 -42,155.44 0.00
A-10 4,523,000.00 4,575,922.24 0.00 0.00 -26,692.88 0.00
A-11 663,000.00 670,757.56 0.00 0.00 -3,912.75 0.00
A-12 5,298,000.00 5,127,627.91 8,265.00 134,706.33 0.00 0.00
A-13 140,900,000.00 140,201,151.57 23,869.18 389,029.68 0.00 0.00
A-14 125,000,000.00 124,380,013.81 21,175.63 345,129.24 0.00 0.00
A-15 5,000,000.00 4,975,200.55 847.03 13,805.17 0.00 0.00
A-16 20,315,000.00 15,361,907.50 264,566.77 4,312,018.43 -86,410.73 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 10,863,129.10 8,519.09 0.00 0.00 0.00
B-2 9,429,000.00 9,414,379.07 7,382.95 0.00 0.00 0.00
B-3 3,264,000.00 3,258,938.73 2,555.73 0.00 0.00 0.00
B-4 2,177,000.00 2,173,624.27 1,704.60 0.00 0.00 0.00
B-5 1,450,000.00 1,447,751.58 1,135.36 0.00 0.00 0.00
B-6 1,814,026.74 1,811,213.86 1,233.40 0.00 0.00 186.99
Totals 725,337,427.57 714,223,983.97 570,189.84 8,917,147.59 (176,499.03) 186.99
<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 1,079.86 646,812.69 0.99632142 1,079.86
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-4 151,216.61 23,895,920.56 0.98337122 151,216.61
A-5 167,685.59 19,589,638.92 0.97948195 167,685.59
A-6 987,288.41 1,642,151.83 0.44478652 987,288.41
A-7 (1,988.83) 342,931.97 1.01760228 (1,988.83)
A-8 430,929.18 78,766,852.57 0.98543560 430,929.18
A-9 2,155,700.36 5,070,946.51 0.52822359 2,155,700.36
A-10 (26,692.88) 4,602,615.12 1.01760228 (26,692.88)
A-11 (3,912.75) 674,670.31 1.01760228 (3,912.75)
A-12 142,971.32 4,984,656.58 0.94085628 142,971.32
A-13 412,898.86 139,788,252.71 0.99210967 412,898.86
A-14 366,304.88 124,013,708.94 0.99210967 366,304.88
A-15 14,652.20 4,960,548.36 0.99210967 14,652.20
A-16 4,490,174.47 10,871,733.03 0.53515791 4,490,174.47
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 8,519.09 10,854,610.01 0.99766636 8,519.09
B-2 7,382.95 9,406,996.12 0.99766636 7,382.95
B-3 2,555.73 3,256,383.00 0.99766636 2,555.73
B-4 1,704.60 2,171,919.67 0.99766636 1,704.60
B-5 1,135.36 1,446,616.22 0.99766636 1,135.36
B-6 1,420.39 1,809,793.47 0.99766637 1,233.40
Totals 9,311,025.40 704,912,958.59 0.97184142 9,310,838.41
</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 649,200.83 997.98476844 0.88154539 0.78180738 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 24,300,000.00 989.59412222 0.35973868 5.86316708 0.00000000
A-5 20,000,000.00 987.86622550 0.48468500 7.89959450 0.00000000
A-6 3,692,000.00 712.19941495 15.69897616 255.86841549 -4.15449621
A-7 337,000.00 1011.70068249 0.00000000 0.00000000 -5.90157270
A-8 79,931,000.00 990.82686004 0.31166243 5.07960228 0.00000000
A-9 9,600,000.00 752.77571667 13.23493125 215.70838125 -4.39119167
A-10 4,523,000.00 1011.70069423 0.00000000 0.00000000 -5.90158744
A-11 663,000.00 1011.70069382 0.00000000 0.00000000 -5.90158371
A-12 5,298,000.00 967.84218762 1.56002265 25.42588335 0.00000000
A-13 140,900,000.00 995.04011050 0.16940511 2.76103392 0.00000000
A-14 125,000,000.00 995.04011048 0.16940504 2.76103392 0.00000000
A-15 5,000,000.00 995.04011000 0.16940600 2.76103400 0.00000000
A-16 20,315,000.00 756.18545410 13.02322274 212.25786020 -4.25354319
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 10,880,000.00 998.44936581 0.78300460 0.00000000 0.00000000
B-2 9,429,000.00 998.44936579 0.78300456 0.00000000 0.00000000
B-3 3,264,000.00 998.44936581 0.78300551 0.00000000 0.00000000
B-4 2,177,000.00 998.44936610 0.78300413 0.00000000 0.00000000
B-5 1,450,000.00 998.44936552 0.78300690 0.00000000 0.00000000
B-6 1,814,026.74 998.44937236 0.67992383 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 1.66336818 996.32141567 0.99632142 1.66336818
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 6.22290576 983.37121646 0.98337122 6.22290576
A-5 0.00000000 8.38427950 979.48194600 0.97948195 8.38427950
A-6 0.00000000 267.41289545 444.78651950 0.44478652 267.41289545
A-7 0.00000000 -5.90157270 1,017.60228487 1.01760228 -5.90157270
A-8 0.00000000 5.39126472 985.43559533 0.98543560 5.39126472
A-9 0.00000000 224.55212083 528.22359479 0.52822359 224.55212083
A-10 0.00000000 -5.90158744 1,017.60228167 1.01760228 -5.90158744
A-11 0.00000000 -5.90158371 1,017.60227753 1.01760228 -5.90158371
A-12 0.00000000 26.98590411 940.85628162 0.94085628 26.98590411
A-13 0.00000000 2.93043903 992.10967147 0.99210967 2.93043903
A-14 0.00000000 2.93043904 992.10967152 0.99210967 2.93043904
A-15 0.00000000 2.93044000 992.10967200 0.99210967 2.93044000
A-16 0.00000000 221.02753975 535.15791435 0.53515791 221.02753975
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 0.78300460 997.66636121 0.99766636 0.78300460
B-2 0.00000000 0.78300456 997.66636123 0.99766636 0.78300456
B-3 0.00000000 0.78300551 997.66636029 0.99766636 0.78300551
B-4 0.00000000 0.78300413 997.66636197 0.99766636 0.78300413
B-5 0.00000000 0.78300690 997.66635862 0.99766636 0.78300690
B-6 0.10308007 0.78300389 997.66636847 0.99766637 0.67992383
<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% 647,892.54 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% 24,047,137.17 140,274.97 0.00 0.00
A-5 20,000,000.00 7.00000% 19,757,324.51 115,251.06 0.00 0.00
A-6 3,692,000.00 7.00000% 2,629,440.24 15,338.40 0.00 0.00
A-7 337,000.00 7.00000% 340,943.13 1,988.83 0.00 0.00
A-8 79,931,000.00 7.00000% 79,197,781.75 461,987.06 0.00 0.00
A-9 9,600,000.00 7.00000% 7,226,646.88 42,155.44 0.00 0.00
A-10 4,523,000.00 7.00000% 4,575,922.24 26,692.88 0.00 0.00
A-11 663,000.00 7.00000% 670,757.56 3,912.75 0.00 0.00
A-12 5,298,000.00 0.00000% 5,127,627.91 0.00 0.00 0.00
A-13 140,900,000.00 6.75000% 140,201,151.57 788,631.48 0.00 0.00
A-14 125,000,000.00 6.70000% 124,380,013.81 694,455.08 0.00 0.00
A-15 5,000,000.00 8.00000% 4,975,200.55 33,168.00 0.00 0.00
A-16 20,315,000.00 6.75000% 15,361,907.50 86,410.73 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% 10,863,129.10 61,105.10 0.00 0.00
B-2 9,429,000.00 6.75000% 9,414,379.07 52,955.88 0.00 0.00
B-3 3,264,000.00 6.75000% 3,258,938.73 18,331.53 0.00 0.00
B-4 2,177,000.00 6.75000% 2,173,624.27 12,226.64 0.00 0.00
B-5 1,450,000.00 6.75000% 1,447,751.58 8,143.60 0.00 0.00
B-6 1,814,026.74 6.75000% 1,811,213.86 10,188.08 127.83 0.00
Totals 725,337,427.57 4,012,865.50 127.83 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>
APO 0.00 0.00 0.00 0.00 646,812.69
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 0.00 140,274.97 0.00 23,895,920.56
A-5 0.00 0.00 115,251.06 0.00 19,589,638.92
A-6 0.00 0.00 15,338.40 0.00 1,642,151.83
A-7 0.00 0.00 1,988.83 0.00 342,931.97
A-8 0.00 0.00 461,987.06 0.00 78,766,852.57
A-9 0.00 0.00 42,155.44 0.00 5,070,946.51
A-10 0.00 0.00 26,692.88 0.00 4,602,615.12
A-11 0.00 0.00 3,912.75 0.00 674,670.31
A-12 0.00 0.00 0.00 0.00 4,984,656.58
A-13 0.00 0.00 788,631.48 0.00 139,788,252.71
A-14 0.00 0.00 694,455.08 0.00 124,013,708.94
A-15 0.00 0.00 33,168.00 0.00 4,960,548.36
A-16 0.00 0.00 86,410.73 0.00 10,871,733.03
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 61,105.10 0.00 10,854,610.01
B-2 0.00 0.00 52,955.88 0.00 9,406,996.12
B-3 0.00 0.00 18,331.53 0.00 3,256,383.00
B-4 0.00 0.00 12,226.64 0.00 2,171,919.67
B-5 0.00 0.00 8,143.60 0.00 1,446,616.22
B-6 0.00 0.00 10,315.91 0.00 1,809,793.47
Totals 0.00 0.00 4,012,993.33 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>
APO 649,200.83 0.00000% 997.98476844 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% 989.59412222 5.77263251 0.00000000 0.00000000
A-5 20,000,000.00 7.00000% 987.86622550 5.76255300 0.00000000 0.00000000
A-6 3,692,000.00 7.00000% 712.19941495 4.15449621 0.00000000 0.00000000
A-7 337,000.00 7.00000% 1011.70068249 5.90157270 0.00000000 0.00000000
A-8 79,931,000.00 7.00000% 990.82686004 5.77982335 0.00000000 0.00000000
A-9 9,600,000.00 7.00000% 752.77571667 4.39119167 0.00000000 0.00000000
A-10 4,523,000.00 7.00000% 1011.70069423 5.90158744 0.00000000 0.00000000
A-11 663,000.00 7.00000% 1011.70069382 5.90158371 0.00000000 0.00000000
A-12 5,298,000.00 0.00000% 967.84218762 0.00000000 0.00000000 0.00000000
A-13 140,900,000.00 6.75000% 995.04011050 5.59710064 0.00000000 0.00000000
A-14 125,000,000.00 6.70000% 995.04011048 5.55564064 0.00000000 0.00000000
A-15 5,000,000.00 8.00000% 995.04011000 6.63360000 0.00000000 0.00000000
A-16 20,315,000.00 6.75000% 756.18545410 4.25354319 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% 998.44936581 5.61627757 0.00000000 0.00000000
B-2 9,429,000.00 6.75000% 998.44936579 5.61627744 0.00000000 0.00000000
B-3 3,264,000.00 6.75000% 998.44936581 5.61627757 0.00000000 0.00000000
B-4 2,177,000.00 6.75000% 998.44936610 5.61627928 0.00000000 0.00000000
B-5 1,450,000.00 6.75000% 998.44936552 5.61627586 0.00000000 0.00000000
B-6 1,814,026.74 6.75000% 998.44937236 5.61627884 0.07046754 0.00000000
<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 996.32141567
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 5.77263251 0.00000000 983.37121646
A-5 0.00000000 0.00000000 5.76255300 0.00000000 979.48194600
A-6 0.00000000 0.00000000 4.15449621 0.00000000 444.78651950
A-7 0.00000000 0.00000000 5.90157270 0.00000000 1017.60228487
A-8 0.00000000 0.00000000 5.77982335 0.00000000 985.43559533
A-9 0.00000000 0.00000000 4.39119167 0.00000000 528.22359479
A-10 0.00000000 0.00000000 5.90158744 0.00000000 1017.60228167
A-11 0.00000000 0.00000000 5.90158371 0.00000000 1017.60227753
A-12 0.00000000 0.00000000 0.00000000 0.00000000 940.85628162
A-13 0.00000000 0.00000000 5.59710064 0.00000000 992.10967147
A-14 0.00000000 0.00000000 5.55564064 0.00000000 992.10967152
A-15 0.00000000 0.00000000 6.63360000 0.00000000 992.10967200
A-16 0.00000000 0.00000000 4.25354319 0.00000000 535.15791435
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 5.61627757 0.00000000 997.66636121
B-2 0.00000000 0.00000000 5.61627744 0.00000000 997.66636123
B-3 0.00000000 0.00000000 5.61627757 0.00000000 997.66636029
B-4 0.00000000 0.00000000 5.61627928 0.00000000 997.66636197
B-5 0.00000000 0.00000000 5.61627586 0.00000000 997.66635862
B-6 0.00000000 0.00000000 5.68674638 0.00000000 997.66636847
<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 7,619,874.74 7,571,958.37 98.33712169%
A-5 SCH 7.00000% 0.00 0.00 12,137,449.77 12,017,680.55 97.70471992%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 13,729,568.23
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses 0.00
Total Deposits 13,729,568.23
Withdrawals
Reimbursement for Servicer Advances 188,931.20
Payment of Service Fee 158,430.58
Payment of Interest and Principal 13,324,831.73
Total Withdrawals (Pool Distribution Amount) 13,672,193.51
Ending Balance 57,374.70
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 2,891.59
Servicing Fee Support 2,891.59
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 151,204.13
Master Servicing Fee 10,118.07
Supported Prepayment/Curtailment Interest Shortfall 2,891.59
Net Servicing Fee 158,430.61
</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 2 546,530.73 0.091743% 0.077532%
60 Days 1 438,665.96 0.045872% 0.062230%
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 3 985,196.69 0.137615% 0.139761%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 186.99
Cumulative Realized Losses - Includes Interest Shortfall 2,038.60
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 627,796.96
</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% 28,946,318.49 4.10636776% 95.889861% 100.000000%
Class B-1 18,134,026.74 2.50008149% 18,091,708.48 2.56651665% 1.541265% 0.000000%
Class B-2 8,705,026.74 1.20013478% 8,684,712.36 1.23202620% 1.335716% 0.000000%
Class B-3 5,441,026.74 0.75013732% 5,428,329.36 0.77007087% 0.462380% 0.000000%
Class B-4 3,264,026.74 0.45000115% 3,256,409.69 0.46195912% 0.308395% 0.000000%
Class B-5 1,814,026.74 0.25009419% 1,809,793.47 0.25673999% 0.205408% 0.000000%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.256976% 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 0.03206582%
Fraud 14,506,748.55 2.00000000% 14,506,748.55 2.05794891%
Special Hazard 7,253,374.28 1.00000000% 7,253,374.28 1.02897446%
<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 7.446770%
Weighted Average Pass-Through Rate 6.750000%
Weighted Average Maturity(Stepdown Calculation ) 354
Begin Scheduled Collateral Loan Count 2,205
Number Of Loans Paid In Full 25
End Scheduled Collateral Loan Count 2,180
Begining Scheduled Collateral Balance 714,223,983.98
Ending Scheduled Collateral Balance 704,912,958.60
Ending Actual Collateral Balance at 31-Aug-1998 710,947,707.62
Ending Scheduled Balance For Norwest 627,291,021.06
Ending Scheduled Balance For Other Services 77,621,937.54
Monthly P &I Constant 4,741,659.57
Class A Optimal Amount 13,137,142.09
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 656,404,495.99
Ending scheduled Balance For discounted Loans 48,508,462.61
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 613,782,424.96
Greater Than 80%, less than or equal to 85% 15,549,277.59
Greater than 85%, less than or equal to 95% 75,633,797.61
Greater than 95% 0.00
</TABLE>
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