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Previous: FT 279, S-6, 1998-08-07 |
Next: NORWEST ASSET SEC CORP MORT PASS THR CERT SER 1998-16 TRUST, 8-K, 1998-08-07 |
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): July 27, 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 July 27, 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 July 27, 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: 8/5/1998
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 July 27,
1998 distribution.
<TABLE>
<CAPTION>
Norwest Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 6/30/1998
Distribution Date: 7/27/1998
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% 649,200.83 0.00 650.68
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% 24,300,000.00 141,750.00 118,158.96
A-5 66937NU89 SCH 7.00000% 20,000,000.00 116,666.67 105,871.20
A-6 66937NU97 SEQ 7.00000% 3,692,000.00 21,536.67 455,469.89
A-7 66937NV21 SEQ 7.00000% 337,000.00 1,965.83 -1,965.83
A-8 66937NV39 SCH 7.00000% 79,931,000.00 466,264.17 345,141.89
A-9 66937NV47 SEQ 7.00000% 9,600,000.00 56,000.00 1,012,966.93
A-10 66937NV54 SEQ 7.00000% 4,523,000.00 26,384.17 -26,384.17
A-11 66937NV62 SEQ 7.00000% 663,000.00 3,867.50 -3,867.50
A-12 66937NV70 PO 0.00000% 5,298,000.00 0.00 74,273.75
A-13 66937NV88 TAC 6.75000% 140,900,000.00 792,562.50 328,238.64
A-14 66937NV96 TAC 6.70000% 125,000,000.00 697,916.67 291,198.22
A-15 66937NW20 TAC 8.00000% 5,000,000.00 33,333.33 11,647.93
A-16 66937NW38 SEQ 6.75000% 20,315,000.00 114,271.88 2,113,974.63
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% 10,880,000.00 61,200.00 8,395.70
B-2 66937NX45 SUB 6.75000% 9,429,000.00 53,038.12 7,276.02
B-3 66937NX29 SUB 6.75000% 3,264,000.00 18,360.00 2,518.71
B-4 66937NX52 SUB 6.75000% 2,177,000.00 12,245.62 1,679.91
B-5 66937NX60 SUB 6.75000% 1,450,000.00 8,156.25 1,118.91
B-6 66937NX78 SUB 6.75000% 1,814,026.74 10,203.90 961.27
Totals 725,337,427.57 4,075,371.27 4,847,325.74
</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 0.00 648,550.15 650.68 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 24,181,841.04 259,908.96 0.00
A-5 0.00 19,894,128.80 222,537.87 0.00
A-6 0.00 3,236,530.11 477,006.56 0.00
A-7 0.00 338,965.83 0.00 0.00
A-8 0.00 79,585,858.11 811,406.06 0.00
A-9 0.00 8,587,033.07 1,068,966.93 0.00
A-10 0.00 4,549,384.17 0.00 0.00
A-11 0.00 666,867.50 0.00 0.00
A-12 0.00 5,223,726.25 74,273.75 0.00
A-13 0.00 140,571,761.36 1,120,801.14 0.00
A-14 0.00 124,708,801.78 989,114.89 0.00
A-15 0.00 4,988,352.07 44,981.26 0.00
A-16 0.00 18,201,025.37 2,228,246.51 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 10,871,604.30 69,595.70 0.00
B-2 0.00 9,421,723.98 60,314.14 0.00
B-3 0.00 3,261,481.29 20,878.71 0.00
B-4 0.00 2,175,320.09 13,925.53 0.00
B-5 0.00 1,448,881.09 9,275.16 0.00
B-6 438.55 1,812,626.92 11,165.17 438.55
Totals 438.55 720,489,663.28 8,922,697.01 438.55
<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 649,200.83 649,200.83 565.29 85.39 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 24,300,000.00 13,147.04 105,011.92 0.00 0.00
A-5 20,000,000.00 20,000,000.00 11,779.84 94,091.36 0.00 0.00
A-6 3,692,000.00 3,692,000.00 53,074.49 423,932.07 -21,536.67 0.00
A-7 337,000.00 337,000.00 0.00 0.00 -1,965.83 0.00
A-8 79,931,000.00 79,931,000.00 38,402.47 306,739.42 0.00 0.00
A-9 9,600,000.00 9,600,000.00 118,939.39 950,027.53 -56,000.00 0.00
A-10 4,523,000.00 4,523,000.00 0.00 0.00 -26,384.17 0.00
A-11 663,000.00 663,000.00 0.00 0.00 -3,867.50 0.00
A-12 5,298,000.00 5,298,000.00 8,264.12 66,009.63 0.00 0.00
A-13 140,900,000.00 140,900,000.00 36,521.71 291,716.93 0.00 0.00
A-14 125,000,000.00 125,000,000.00 32,400.39 258,797.84 0.00 0.00
A-15 5,000,000.00 5,000,000.00 1,296.02 10,351.91 0.00 0.00
A-16 20,315,000.00 20,315,000.00 247,927.49 1,980,319.02 -114,271.88 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 10,880,000.00 8,395.70 0.00 0.00 0.00
B-2 9,429,000.00 9,429,000.00 7,276.02 0.00 0.00 0.00
B-3 3,264,000.00 3,264,000.00 2,518.71 0.00 0.00 0.00
B-4 2,177,000.00 2,177,000.00 1,679.91 0.00 0.00 0.00
B-5 1,450,000.00 1,450,000.00 1,118.91 0.00 0.00 0.00
B-6 1,814,026.74 1,814,026.74 961.27 0.00 0.00 438.55
Totals 725,337,427.57 725,337,427.57 584,268.77 4,487,083.02 (224,026.05) 438.55
<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 650.68 648,550.15 0.99899772 650.68
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-4 118,158.96 24,181,841.04 0.99513749 118,158.96
A-5 105,871.20 19,894,128.80 0.99470644 105,871.20
A-6 455,469.89 3,236,530.11 0.87663329 455,469.89
A-7 (1,965.83) 338,965.83 1.00583332 (1,965.83)
A-8 345,141.89 79,585,858.11 0.99568200 345,141.89
A-9 1,012,966.93 8,587,033.07 0.89448261 1,012,966.93
A-10 (26,384.17) 4,549,384.17 1.00583333 (26,384.17)
A-11 (3,867.50) 666,867.50 1.00583333 (3,867.50)
A-12 74,273.75 5,223,726.25 0.98598079 74,273.75
A-13 328,238.64 140,571,761.36 0.99767041 328,238.64
A-14 291,198.22 124,708,801.78 0.99767041 291,198.22
A-15 11,647.93 4,988,352.07 0.99767041 11,647.93
A-16 2,113,974.63 18,201,025.37 0.89594021 2,113,974.63
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 8,395.70 10,871,604.30 0.99922834 8,395.70
B-2 7,276.02 9,421,723.98 0.99922834 7,276.02
B-3 2,518.71 3,261,481.29 0.99922834 2,518.71
B-4 1,679.91 2,175,320.09 0.99922834 1,679.91
B-5 1,118.91 1,448,881.09 0.99922834 1,118.91
B-6 1,399.82 1,812,626.92 0.99922834 961.27
Totals 4,847,764.29 720,489,663.28 0.99331654 4,847,325.74
</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 1000.00000000 0.87074750 0.13153095 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 1000.00000000 0.54103045 4.32147819 0.00000000
A-5 20,000,000.00 1000.00000000 0.58899200 4.70456800 0.00000000
A-6 3,692,000.00 1000.00000000 14.37553900 114.82450433 -5.83333424
A-7 337,000.00 1000.00000000 0.00000000 0.00000000 -5.83332344
A-8 79,931,000.00 1000.00000000 0.48044526 3.83755264 0.00000000
A-9 9,600,000.00 1000.00000000 12.38951979 98.96120104 -5.83333333
A-10 4,523,000.00 1000.00000000 0.00000000 0.00000000 -5.83333407
A-11 663,000.00 1000.00000000 0.00000000 0.00000000 -5.83333333
A-12 5,298,000.00 1000.00000000 1.55985655 12.45934881 0.00000000
A-13 140,900,000.00 1000.00000000 0.25920305 2.07038275 0.00000000
A-14 125,000,000.00 1000.00000000 0.25920312 2.07038272 0.00000000
A-15 5,000,000.00 1000.00000000 0.25920400 2.07038200 0.00000000
A-16 20,315,000.00 1000.00000000 12.20415900 97.48063106 -5.62500025
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 1000.00000000 0.77166360 0.00000000 0.00000000
B-2 9,429,000.00 1000.00000000 0.77166402 0.00000000 0.00000000
B-3 3,264,000.00 1000.00000000 0.77166360 0.00000000 0.00000000
B-4 2,177,000.00 1000.00000000 0.77166284 0.00000000 0.00000000
B-5 1,450,000.00 1000.00000000 0.77166207 0.00000000 0.00000000
B-6 1,814,026.74 1000.00000000 0.52990950 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 1.00227845 998.99772155 0.99899772 1.00227845
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 4.86250864 995.13749136 0.99513749 4.86250864
A-5 0.00000000 5.29356000 994.70644000 0.99470644 5.29356000
A-6 0.00000000 123.36670910 876.63329090 0.87663329 123.36670910
A-7 0.00000000 -5.83332344 1,005.83332344 1.00583332 -5.83332344
A-8 0.00000000 4.31799790 995.68200210 0.99568200 4.31799790
A-9 0.00000000 105.51738854 894.48261146 0.89448261 105.51738854
A-10 0.00000000 -5.83333407 1,005.83333407 1.00583333 -5.83333407
A-11 0.00000000 -5.83333333 1,005.83333333 1.00583333 -5.83333333
A-12 0.00000000 14.01920536 985.98079464 0.98598079 14.01920536
A-13 0.00000000 2.32958581 997.67041419 0.99767041 2.32958581
A-14 0.00000000 2.32958576 997.67041424 0.99767041 2.32958576
A-15 0.00000000 2.32958600 997.67041400 0.99767041 2.32958600
A-16 0.00000000 104.05978981 895.94021019 0.89594021 104.05978981
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 0.77166360 999.22833640 0.99922834 0.77166360
B-2 0.00000000 0.77166402 999.22833598 0.99922834 0.77166402
B-3 0.00000000 0.77166360 999.22833640 0.99922834 0.77166360
B-4 0.00000000 0.77166284 999.22833716 0.99922834 0.77166284
B-5 0.00000000 0.77166207 999.22833793 0.99922834 0.77166207
B-6 0.24175498 0.77166448 999.22833552 0.99922834 0.52990950
<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% 649,200.83 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% 24,300,000.00 141,750.00 0.00 0.00
A-5 20,000,000.00 7.00000% 20,000,000.00 116,666.67 0.00 0.00
A-6 3,692,000.00 7.00000% 3,692,000.00 21,536.67 0.00 0.00
A-7 337,000.00 7.00000% 337,000.00 1,965.83 0.00 0.00
A-8 79,931,000.00 7.00000% 79,931,000.00 466,264.17 0.00 0.00
A-9 9,600,000.00 7.00000% 9,600,000.00 56,000.00 0.00 0.00
A-10 4,523,000.00 7.00000% 4,523,000.00 26,384.17 0.00 0.00
A-11 663,000.00 7.00000% 663,000.00 3,867.50 0.00 0.00
A-12 5,298,000.00 0.00000% 5,298,000.00 0.00 0.00 0.00
A-13 140,900,000.00 6.75000% 140,900,000.00 792,562.50 0.00 0.00
A-14 125,000,000.00 6.70000% 125,000,000.00 697,916.67 0.00 0.00
A-15 5,000,000.00 8.00000% 5,000,000.00 33,333.33 0.00 0.00
A-16 20,315,000.00 6.75000% 20,315,000.00 114,271.88 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% 10,880,000.00 61,200.00 0.00 0.00
B-2 9,429,000.00 6.75000% 9,429,000.00 53,038.12 0.00 0.00
B-3 3,264,000.00 6.75000% 3,264,000.00 18,360.00 0.00 0.00
B-4 2,177,000.00 6.75000% 2,177,000.00 12,245.62 0.00 0.00
B-5 1,450,000.00 6.75000% 1,450,000.00 8,156.25 0.00 0.00
B-6 1,814,026.74 6.75000% 1,814,026.74 10,203.90 0.00 0.00
Totals 725,337,427.57 4,075,371.27 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 0.00 648,550.15
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 0.00 141,750.00 0.00 24,181,841.04
A-5 0.00 0.00 116,666.67 0.00 19,894,128.80
A-6 0.00 0.00 21,536.67 0.00 3,236,530.11
A-7 0.00 0.00 1,965.83 0.00 338,965.83
A-8 0.00 0.00 466,264.17 0.00 79,585,858.11
A-9 0.00 0.00 56,000.00 0.00 8,587,033.07
A-10 0.00 0.00 26,384.17 0.00 4,549,384.17
A-11 0.00 0.00 3,867.50 0.00 666,867.50
A-12 0.00 0.00 0.00 0.00 5,223,726.25
A-13 0.00 0.00 792,562.50 0.00 140,571,761.36
A-14 0.00 0.00 697,916.67 0.00 124,708,801.78
A-15 0.00 0.00 33,333.33 0.00 4,988,352.07
A-16 0.00 0.00 114,271.88 0.00 18,201,025.37
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 61,200.00 0.00 10,871,604.30
B-2 0.00 0.00 53,038.12 0.00 9,421,723.98
B-3 0.00 0.00 18,360.00 0.00 3,261,481.29
B-4 0.00 0.00 12,245.62 0.00 2,175,320.09
B-5 0.00 0.00 8,156.25 0.00 1,448,881.09
B-6 0.00 0.00 10,203.90 0.00 1,812,626.92
Totals 0.00 0.00 4,075,371.27 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% 1000.00000000 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% 1000.00000000 5.83333333 0.00000000 0.00000000
A-5 20,000,000.00 7.00000% 1000.00000000 5.83333350 0.00000000 0.00000000
A-6 3,692,000.00 7.00000% 1000.00000000 5.83333424 0.00000000 0.00000000
A-7 337,000.00 7.00000% 1000.00000000 5.83332344 0.00000000 0.00000000
A-8 79,931,000.00 7.00000% 1000.00000000 5.83333338 0.00000000 0.00000000
A-9 9,600,000.00 7.00000% 1000.00000000 5.83333333 0.00000000 0.00000000
A-10 4,523,000.00 7.00000% 1000.00000000 5.83333407 0.00000000 0.00000000
A-11 663,000.00 7.00000% 1000.00000000 5.83333333 0.00000000 0.00000000
A-12 5,298,000.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
A-13 140,900,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-14 125,000,000.00 6.70000% 1000.00000000 5.58333336 0.00000000 0.00000000
A-15 5,000,000.00 8.00000% 1000.00000000 6.66666600 0.00000000 0.00000000
A-16 20,315,000.00 6.75000% 1000.00000000 5.62500025 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% 1000.00000000 5.62500000 0.00000000 0.00000000
B-2 9,429,000.00 6.75000% 1000.00000000 5.62499947 0.00000000 0.00000000
B-3 3,264,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
B-4 2,177,000.00 6.75000% 1000.00000000 5.62499770 0.00000000 0.00000000
B-5 1,450,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
B-6 1,814,026.74 6.75000% 1000.00000000 5.62499977 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 998.99772155
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 5.83333333 0.00000000 995.13749136
A-5 0.00000000 0.00000000 5.83333350 0.00000000 994.70644000
A-6 0.00000000 0.00000000 5.83333424 0.00000000 876.63329090
A-7 0.00000000 0.00000000 5.83332344 0.00000000 1005.83332344
A-8 0.00000000 0.00000000 5.83333338 0.00000000 995.68200210
A-9 0.00000000 0.00000000 5.83333333 0.00000000 894.48261146
A-10 0.00000000 0.00000000 5.83333407 0.00000000 1005.83333407
A-11 0.00000000 0.00000000 5.83333333 0.00000000 1005.83333333
A-12 0.00000000 0.00000000 0.00000000 0.00000000 985.98079464
A-13 0.00000000 0.00000000 5.62500000 0.00000000 997.67041419
A-14 0.00000000 0.00000000 5.58333336 0.00000000 997.67041424
A-15 0.00000000 0.00000000 6.66666600 0.00000000 997.67041400
A-16 0.00000000 0.00000000 5.62500025 0.00000000 895.94021019
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 5.62500000 0.00000000 999.22833640
B-2 0.00000000 0.00000000 5.62499947 0.00000000 999.22833598
B-3 0.00000000 0.00000000 5.62500000 0.00000000 999.22833640
B-4 0.00000000 0.00000000 5.62499770 0.00000000 999.22833716
B-5 0.00000000 0.00000000 5.62500000 0.00000000 999.22833793
B-6 0.00000000 0.00000000 5.62499977 0.00000000 999.22833552
<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 7,700,000.00 7,662,558.68 99.51374909%
A-5 SCH 7.00000% 0.00 0.00 12,300,000.00 12,231,570.12 99.44365951%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 9,147,587.62
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 9,147,587.62
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 163,429.06
Payment of Interest and Principal 8,923,697.02
Total Withdrawals (Pool Distribution Amount) 9,087,126.08
Ending Balance 60,461.27
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 354.43
Servicing Fee Support 354.43
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 153,509.23
Master Servicing Fee 10,274.52
Supported Prepayment/Curtailment Interest Shortfall 354.43
Net Servicing Fee 163,429.32
</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 2 674,509.75 0.090090% 0.093618%
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 2 674,509.75 0.090090% 0.093618%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 438.55
Cumulative Realized Losses - Includes Interest Shortfall 438.55
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 635,786.19
</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% 28,991,637.67 4.02387975% 95.972495% 100.000000%
Class B-1 18,134,026.74 2.50008149% 18,120,033.37 2.51496091% 1.510278% 0.000000%
Class B-2 8,705,026.74 1.20013478% 8,698,309.39 1.20727747% 1.308862% 0.000000%
Class B-3 5,441,026.74 0.75013732% 5,436,828.10 0.75460182% 0.453083% 0.000000%
Class B-4 3,264,026.74 0.45000115% 3,261,508.01 0.45267936% 0.302194% 0.000000%
Class B-5 1,814,026.74 0.25009419% 1,812,626.92 0.25158264% 0.201278% 0.000000%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.251809% 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 0.03137257%
Fraud 14,506,748.55 2.00000000% 14,506,748.55 2.01345686%
Special Hazard 7,253,374.28 1.00000000% 7,253,374.28 1.00672843%
<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 7.449981%
Weighted Average Pass-Through Rate 6.750000%
Weighted Average Maturity(Stepdown Calculation ) 356
Begin Scheduled Collateral Loan Count 2,230
Number Of Loans Paid In Full 10
End Scheduled Collateral Loan Count 2,220
Begining Scheduled Collateral Balance 725,337,427.57
Ending Scheduled Collateral Balance 720,489,663.28
Ending Actual Collateral Balance at 30-Jun-1998 719,067,691.76
Ending Scheduled Balance For Norwest 640,832,440.94
Ending Scheduled Balance For Other Services 79,657,222.35
Monthly P &I Constant 4,802,309.91
Class A Optimal Amount 8,736,891.92
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 671,708,408.64
Ending scheduled Balance For discounted Loans 48,781,254.64
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 628,575,659.46
Greater Than 80%, less than or equal to 85% 15,578,678.85
Greater than 85%, less than or equal to 95% 76,389,685.71
Greater than 95% 0.00
</TABLE>
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