UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D. C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 26, 1998
NORWEST ASSET SECURITIES CORPORATION
Mortgage Pass-Through Certificates, Series 1998-15 Trust
New York (governing law of 333-45021-15 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
Former name or former address, if changed since last report)
ITEM 5. Other Events
On October 26, 1998 a distribution was made to holders of NORWEST ASSET
SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 1998-15
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 October 26, 1998 distribution.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NORWEST ASSET SECURITIES CORPORATION
Mortgage Pass-Through Certificates, Series 1998-15 Trust
By: Norwest Bank Minnesota, N.A., as Master Servicer
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 11/4/98
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 October 26,
1998 distribution.
<TABLE>
<CAPTION>
Norwest Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 9/30/98
Distribution Date: 10/26/98
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% 646,812.69 0.00 1,329.99
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% 23,895,920.56 139,392.87 167,686.62
A-5 66937NU89 SCH 7.00000% 19,589,638.92 114,272.89 198,459.61
A-6 66937NU97 SEQ 7.00000% 1,642,151.83 9,579.22 1,628,215.10
A-7 66937NV21 SEQ 7.00000% 342,931.97 2,000.44 -2,000.44
A-8 66937NV39 SCH 7.00000% 78,766,852.57 459,473.31 473,673.09
A-9 66937NV47 SEQ 7.00000% 5,070,946.51 29,580.52 3,461,815.23
A-10 66937NV54 SEQ 7.00000% 4,602,615.12 26,848.59 -26,848.59
A-11 66937NV62 SEQ 7.00000% 674,670.31 3,935.58 -3,935.58
A-12 66937NV70 PO 0.00000% 4,984,656.58 0.00 218,409.82
A-13 66937NV88 TAC 6.75000% 139,788,252.71 786,308.92 455,081.02
A-14 66937NV96 TAC 6.70000% 124,013,708.94 692,409.87 403,726.95
A-15 66937NW20 TAC 8.00000% 4,960,548.36 33,070.32 16,149.08
A-16 66937NW38 SEQ 6.75000% 10,871,733.03 61,153.50 7,197,180.05
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% 10,854,610.01 61,057.18 8,536.53
B-2 66937NX45 SUB 6.75000% 9,406,996.12 52,914.35 7,398.06
B-3 66937NX29 SUB 6.75000% 3,256,383.00 18,317.15 2,560.96
B-4 66937NX52 SUB 6.75000% 2,171,919.67 12,217.05 1,708.09
B-5 66937NX60 SUB 6.75000% 1,446,616.22 8,137.22 1,137.68
B-6 66937NX78 SUB 6.75000% 1,809,793.47 10,180.09 1,420.97
Totals 704,912,958.59 3,960,497.06 14,211,704.24
</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 0.00 645,482.70 1,329.99 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 23,728,233.94 307,079.49 0.00
A-5 0.00 19,391,179.31 312,732.50 0.00
A-6 0.00 13,936.73 1,637,794.32 0.00
A-7 0.00 344,932.41 0.00 0.00
A-8 0.00 78,293,179.48 933,146.40 0.00
A-9 0.00 1,609,131.28 3,491,395.75 0.00
A-10 0.00 4,629,463.71 0.00 0.00
A-11 0.00 678,605.89 0.00 0.00
A-12 0.00 4,766,246.77 218,409.82 0.00
A-13 0.00 139,333,171.70 1,241,389.94 0.00
A-14 0.00 123,609,981.99 1,096,136.82 0.00
A-15 0.00 4,944,399.28 49,219.40 0.00
A-16 0.00 3,674,552.98 7,258,333.55 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 10,846,073.48 69,593.71 0.00
B-2 0.00 9,399,598.05 60,312.41 0.00
B-3 0.00 3,253,822.04 20,878.11 0.00
B-4 0.00 2,170,211.58 13,925.14 0.00
B-5 0.00 1,445,478.54 9,274.90 0.00
B-6 2.33 1,808,370.17 11,601.06 2,040.93
Totals 2.33 690,701,252.03 18,172,201.30 2,040.93
<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 649,200.83 646,812.69 575.38 754.60 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 23,895,920.56 6,277.20 161,409.43 0.00 0.00
A-5 20,000,000.00 19,589,638.92 7,429.16 191,030.45 0.00 0.00
A-6 3,692,000.00 1,642,151.83 61,309.35 1,576,484.97 -9,579.21 0.00
A-7 337,000.00 342,931.97 0.00 0.00 -2,000.44 0.00
A-8 79,931,000.00 78,766,852.57 17,731.52 455,941.56 0.00 0.00
A-9 9,600,000.00 5,070,946.51 130,697.24 3,360,698.51 -29,580.52 0.00
A-10 4,523,000.00 4,602,615.12 0.00 0.00 -26,848.59 0.00
A-11 663,000.00 674,670.31 0.00 0.00 -3,935.58 0.00
A-12 5,298,000.00 4,984,656.58 8,175.97 210,233.84 0.00 0.00
A-13 140,900,000.00 139,788,252.71 17,035.55 438,045.47 0.00 0.00
A-14 125,000,000.00 124,013,708.94 15,113.15 388,613.80 0.00 0.00
A-15 5,000,000.00 4,960,548.36 604.53 15,544.55 0.00 0.00
A-16 20,315,000.00 10,871,733.03 271,709.15 6,986,624.40 -61,153.50 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 10,854,610.01 8,536.53 0.00 0.00 0.00
B-2 9,429,000.00 9,406,996.12 7,398.06 0.00 0.00 0.00
B-3 3,264,000.00 3,256,383.00 2,560.96 0.00 0.00 0.00
B-4 2,177,000.00 2,171,919.67 1,708.09 0.00 0.00 0.00
B-5 1,450,000.00 1,446,616.22 1,137.68 0.00 0.00 0.00
B-6 1,814,026.74 1,809,793.47 1,420.97 0.00 0.00 2.33
Totals 725,337,427.57 704,912,958.59 559,420.49 13,785,381.58 (133,097.84) 2.33
<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 1,329.99 645,482.70 0.99427276 1,329.99
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-4 167,686.62 23,728,233.94 0.97647053 167,686.62
A-5 198,459.61 19,391,179.31 0.96955897 198,459.61
A-6 1,628,215.10 13,936.73 0.00377485 1,628,215.10
A-7 (2,000.44) 344,932.41 1.02353831 (2,000.44)
A-8 473,673.09 78,293,179.48 0.97950957 473,673.09
A-9 3,461,815.23 1,609,131.28 0.16761784 3,461,815.23
A-10 (26,848.59) 4,629,463.71 1.02353830 (26,848.59)
A-11 (3,935.58) 678,605.89 1.02353830 (3,935.58)
A-12 218,409.82 4,766,246.77 0.89963133 218,409.82
A-13 455,081.02 139,333,171.70 0.98887986 455,081.02
A-14 403,726.95 123,609,981.99 0.98887986 403,726.95
A-15 16,149.08 4,944,399.28 0.98887986 16,149.08
A-16 7,197,180.05 3,674,552.98 0.18087881 7,197,180.05
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 8,536.53 10,846,073.48 0.99688175 8,536.53
B-2 7,398.06 9,399,598.05 0.99688175 7,398.06
B-3 2,560.96 3,253,822.04 0.99688175 2,560.96
B-4 1,708.09 2,170,211.58 0.99688175 1,708.09
B-5 1,137.68 1,445,478.54 0.99688175 1,137.68
B-6 1,423.30 1,808,370.17 0.99688176 1,420.97
Totals 14,211,706.57 690,701,252.03 0.95224819 14,211,704.24
</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 649,200.83 996.32141567 0.88628969 1.16235218 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 24,300,000.00 983.37121646 0.25832099 6.64236337 0.00000000
A-5 20,000,000.00 979.48194600 0.37145800 9.55152250 0.00000000
A-6 3,692,000.00 444.78651950 16.60599946 427.00026273 -2.59458559
A-7 337,000.00 1017.60228487 0.00000000 0.00000000 -5.93602374
A-8 79,931,000.00 985.43559533 0.22183533 5.70418936 0.00000000
A-9 9,600,000.00 528.22359479 13.61429583 350.07276146 -3.08130417
A-10 4,523,000.00 1017.60228167 0.00000000 0.00000000 -5.93601371
A-11 663,000.00 1017.60227753 0.00000000 0.00000000 -5.93601810
A-12 5,298,000.00 940.85628162 1.54321820 39.68173650 0.00000000
A-13 140,900,000.00 992.10967147 0.12090525 3.10891036 0.00000000
A-14 125,000,000.00 992.10967152 0.12090520 3.10891040 0.00000000
A-15 5,000,000.00 992.10967200 0.12090600 3.10891000 0.00000000
A-16 20,315,000.00 535.15791435 13.37480433 343.91456559 -3.01026335
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 10,880,000.00 997.66636121 0.78460754 0.00000000 0.00000000
B-2 9,429,000.00 997.66636123 0.78460706 0.00000000 0.00000000
B-3 3,264,000.00 997.66636029 0.78460784 0.00000000 0.00000000
B-4 2,177,000.00 997.66636197 0.78460726 0.00000000 0.00000000
B-5 1,450,000.00 997.66635862 0.78460690 0.00000000 0.00000000
B-6 1,814,026.74 997.66636847 0.78332362 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 2.04865727 994.27275840 0.99427276 2.04865727
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 6.90068395 976.47053251 0.97647053 6.90068395
A-5 0.00000000 9.92298050 969.55896550 0.96955897 9.92298050
A-6 0.00000000 441.01167389 3.77484561 0.00377485 441.01167389
A-7 0.00000000 -5.93602374 1,023.53830861 1.02353831 -5.93602374
A-8 0.00000000 5.92602482 979.50957050 0.97950957 5.92602482
A-9 0.00000000 360.60575312 167.61784167 0.16761784 360.60575312
A-10 0.00000000 -5.93601371 1,023.53829538 1.02353830 -5.93601371
A-11 0.00000000 -5.93601810 1,023.53829563 1.02353830 -5.93601810
A-12 0.00000000 41.22495659 899.63132692 0.89963133 41.22495659
A-13 0.00000000 3.22981561 988.87985593 0.98887986 3.22981561
A-14 0.00000000 3.22981560 988.87985592 0.98887986 3.22981560
A-15 0.00000000 3.22981600 988.87985600 0.98887986 3.22981600
A-16 0.00000000 354.27910657 180.87880778 0.18087881 354.27910657
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 0.78460754 996.88175368 0.99688175 0.78460754
B-2 0.00000000 0.78460706 996.88175310 0.99688175 0.78460706
B-3 0.00000000 0.78460784 996.88175245 0.99688175 0.78460784
B-4 0.00000000 0.78460726 996.88175471 0.99688175 0.78460726
B-5 0.00000000 0.78460690 996.88175172 0.99688175 0.78460690
B-6 0.00128444 0.78460806 996.88176041 0.99688176 0.78332362
<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% 646,812.69 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% 23,895,920.56 139,392.87 0.00 0.00
A-5 20,000,000.00 7.00000% 19,589,638.92 114,272.89 0.00 0.00
A-6 3,692,000.00 7.00000% 1,642,151.83 9,579.22 0.00 0.00
A-7 337,000.00 7.00000% 342,931.97 2,000.44 0.00 0.00
A-8 79,931,000.00 7.00000% 78,766,852.57 459,473.31 0.00 0.00
A-9 9,600,000.00 7.00000% 5,070,946.51 29,580.52 0.00 0.00
A-10 4,523,000.00 7.00000% 4,602,615.12 26,848.59 0.00 0.00
A-11 663,000.00 7.00000% 674,670.31 3,935.58 0.00 0.00
A-12 5,298,000.00 0.00000% 4,984,656.58 0.00 0.00 0.00
A-13 140,900,000.00 6.75000% 139,788,252.71 786,308.92 0.00 0.00
A-14 125,000,000.00 6.70000% 124,013,708.94 692,409.87 0.00 0.00
A-15 5,000,000.00 8.00000% 4,960,548.36 33,070.32 0.00 0.00
A-16 20,315,000.00 6.75000% 10,871,733.03 61,153.50 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% 10,854,610.01 61,057.18 0.00 0.00
B-2 9,429,000.00 6.75000% 9,406,996.12 52,914.35 0.00 0.00
B-3 3,264,000.00 6.75000% 3,256,383.00 18,317.15 0.00 0.00
B-4 2,177,000.00 6.75000% 2,171,919.67 12,217.05 0.00 0.00
B-5 1,450,000.00 6.75000% 1,446,616.22 8,137.22 0.00 0.00
B-6 1,814,026.74 6.75000% 1,809,793.47 10,180.09 0.00 0.00
Totals 725,337,427.57 3,960,497.06 0.00 0.00
</TABLE>
<TABLE>
<CAPTION>
Interest Distribution Statement (continued)
Remaining Ending
Non-Supported Total Unpaid Certificate/
Interest Realized Interest Interest Notional
Class Shortfall Losses (4) Distribution Shortfall Balance
<S> <C> <C> <C> <C> <C>
APO 0.00 0.00 0.00 0.00 645,482.70
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 0.00 139,392.87 0.00 23,728,233.94
A-5 0.00 0.00 114,272.89 0.00 19,391,179.31
A-6 0.00 0.00 9,579.22 0.00 13,936.73
A-7 0.00 0.00 2,000.44 0.00 344,932.41
A-8 0.00 0.00 459,473.31 0.00 78,293,179.48
A-9 0.00 0.00 29,580.52 0.00 1,609,131.28
A-10 0.00 0.00 26,848.59 0.00 4,629,463.71
A-11 0.00 0.00 3,935.58 0.00 678,605.89
A-12 0.00 0.00 0.00 0.00 4,766,246.77
A-13 0.00 0.00 786,308.92 0.00 139,333,171.70
A-14 0.00 0.00 692,409.87 0.00 123,609,981.99
A-15 0.00 0.00 33,070.32 0.00 4,944,399.28
A-16 0.00 0.00 61,153.50 0.00 3,674,552.98
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 61,057.18 0.00 10,846,073.48
B-2 0.00 0.00 52,914.35 0.00 9,399,598.05
B-3 0.00 0.00 18,317.15 0.00 3,253,822.04
B-4 0.00 0.00 12,217.05 0.00 2,170,211.58
B-5 0.00 0.00 8,137.22 0.00 1,445,478.54
B-6 0.00 0.00 10,180.09 0.00 1,808,370.17
Totals 0.00 0.00 3,960,497.06 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% 996.32141567 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% 983.37121646 5.73633210 0.00000000 0.00000000
A-5 20,000,000.00 7.00000% 979.48194600 5.71364450 0.00000000 0.00000000
A-6 3,692,000.00 7.00000% 444.78651950 2.59458830 0.00000000 0.00000000
A-7 337,000.00 7.00000% 1017.60228487 5.93602374 0.00000000 0.00000000
A-8 79,931,000.00 7.00000% 985.43559533 5.74837435 0.00000000 0.00000000
A-9 9,600,000.00 7.00000% 528.22359479 3.08130417 0.00000000 0.00000000
A-10 4,523,000.00 7.00000% 1017.60228167 5.93601371 0.00000000 0.00000000
A-11 663,000.00 7.00000% 1017.60227753 5.93601810 0.00000000 0.00000000
A-12 5,298,000.00 0.00000% 940.85628162 0.00000000 0.00000000 0.00000000
A-13 140,900,000.00 6.75000% 992.10967147 5.58061689 0.00000000 0.00000000
A-14 125,000,000.00 6.70000% 992.10967152 5.53927896 0.00000000 0.00000000
A-15 5,000,000.00 8.00000% 992.10967200 6.61406400 0.00000000 0.00000000
A-16 20,315,000.00 6.75000% 535.15791435 3.01026335 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% 997.66636121 5.61187316 0.00000000 0.00000000
B-2 9,429,000.00 6.75000% 997.66636123 5.61187295 0.00000000 0.00000000
B-3 3,264,000.00 6.75000% 997.66636029 5.61187194 0.00000000 0.00000000
B-4 2,177,000.00 6.75000% 997.66636197 5.61187414 0.00000000 0.00000000
B-5 1,450,000.00 6.75000% 997.66635862 5.61187586 0.00000000 0.00000000
B-6 1,814,026.74 6.75000% 997.66636847 5.61187428 0.00000000 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 994.27275840
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 5.73633210 0.00000000 976.47053251
A-5 0.00000000 0.00000000 5.71364450 0.00000000 969.55896550
A-6 0.00000000 0.00000000 2.59458830 0.00000000 3.77484561
A-7 0.00000000 0.00000000 5.93602374 0.00000000 1023.53830861
A-8 0.00000000 0.00000000 5.74837435 0.00000000 979.50957050
A-9 0.00000000 0.00000000 3.08130417 0.00000000 167.61784167
A-10 0.00000000 0.00000000 5.93601371 0.00000000 1023.53829538
A-11 0.00000000 0.00000000 5.93601810 0.00000000 1023.53829563
A-12 0.00000000 0.00000000 0.00000000 0.00000000 899.63132692
A-13 0.00000000 0.00000000 5.58061689 0.00000000 988.87985593
A-14 0.00000000 0.00000000 5.53927896 0.00000000 988.87985592
A-15 0.00000000 0.00000000 6.61406400 0.00000000 988.87985600
A-16 0.00000000 0.00000000 3.01026335 0.00000000 180.87880778
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 5.61187316 0.00000000 996.88175368
B-2 0.00000000 0.00000000 5.61187295 0.00000000 996.88175310
B-3 0.00000000 0.00000000 5.61187194 0.00000000 996.88175245
B-4 0.00000000 0.00000000 5.61187414 0.00000000 996.88175471
B-5 0.00000000 0.00000000 5.61187586 0.00000000 996.88175172
B-6 0.00000000 0.00000000 5.61187428 0.00000000 996.88176041
<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 7,571,958.37 7,518,823.10 97.64705325%
A-5 SCH 7.00000% 0.00 0.00 12,017,680.55 11,872,356.21 96.52322122%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 57,374.70
Deposits
Payments of Interest and Principal 17,802,880.67
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 304,494.23
Other Amounts (Servicer Advances) 162,676.04
Realized Losses 0.00
Total Deposits 18,270,050.94
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 154,224.31
Payment of Interest and Principal 18,173,201.32
Total Withdrawals (Pool Distribution Amount) 18,327,425.63
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 5,026.01
Servicing Fee Support 5,026.01
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 149,264.02
Master Servicing Fee 9,986.29
Supported Prepayment/Curtailment Interest Shortfall 5,026.01
Net Servicing Fee 154,224.30
</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 6 1,504,421.87 0.279720% 0.217811%
60 Days 1 259,612.87 0.046620% 0.037587%
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 7 1,764,034.74 0.326340% 0.255398%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 2.33
Cumulative Realized Losses - Includes Interest Shortfall 2,040.93
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 815,699.46
</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% 28,923,553.86 4.18756355% 95.808519% 100.000000%
Class B-1 18,134,026.74 2.50008149% 18,077,480.38 2.61726475% 1.571768% 0.000000%
Class B-2 8,705,026.74 1.20013478% 8,677,882.33 1.25638723% 1.362150% 0.000000%
Class B-3 5,441,026.74 0.75013732% 5,424,060.29 0.78529759% 0.471530% 0.000000%
Class B-4 3,264,026.74 0.45000115% 3,253,848.71 0.47109350% 0.314498% 0.000000%
Class B-5 1,814,026.74 0.25009419% 1,808,370.17 0.26181655% 0.209473% 0.000000%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.262061% 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 0.03272560%
Fraud 14,506,748.55 2.00000000% 14,506,748.55 2.10029278%
Special Hazard 7,253,374.28 1.00000000% 7,253,374.28 1.05014639%
<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 7.445040%
Weighted Average Pass-Through Rate 6.750000%
Weighted Average Maturity(Stepdown Calculation ) 353
Begin Scheduled Collateral Loan Count 2,180
Number Of Loans Paid In Full 35
End Scheduled Collateral Loan Count 2,145
Begining Scheduled Collateral Balance 704,912,958.60
Ending Scheduled Collateral Balance 690,701,252.02
Ending Actual Collateral Balance at 30-Sep-1998 699,279,879.57
Ending Scheduled Balance For Norwest 614,040,195.43
Ending Scheduled Balance For Other Services 76,661,056.59
Monthly P &I Constant 4,684,960.57
Class A Optimal Amount 17,985,285.98
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 642,504,772.78
Ending scheduled Balance For discounted Loans 48,196,479.24
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 600,384,520.86
Greater Than 80%, less than or equal to 85% 15,145,118.97
Greater than 85%, less than or equal to 95% 75,246,931.64
Greater than 95% 0.00
</TABLE>
