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): November 25, 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 November 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
Monthly report distributed to holders of
EX-99.1 Mortgage Pass-Through Certificates, Series
1998-15 Trust, relating to the November 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: 12/03/98
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 November
25, 1998 distribution.
<TABLE>
<CAPTION>
Norwest Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 10/30/98
Distribution Date: 11/25/98
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% 645,482.70 0.00 658.67
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% 23,728,233.94 138,414.70 1,960,908.21
A-5 66937NU89 SCH 7.00000% 19,391,179.31 113,115.21 792,091.03
A-6 66937NU97 SEQ 7.00000% 13,936.73 81.30 13,936.73
A-7 66937NV21 SEQ 7.00000% 344,932.41 2,012.11 -2,012.11
A-8 66937NV39 SCH 7.00000% 78,293,179.48 456,710.21 516,280.91
A-9 66937NV47 SEQ 7.00000% 1,609,131.28 9,386.60 1,609,131.28
A-10 66937NV54 SEQ 7.00000% 4,629,463.71 27,005.20 3,297,348.58
A-11 66937NV62 SEQ 7.00000% 678,605.89 3,958.53 -3,958.53
A-12 66937NV70 PO 0.00000% 4,766,246.77 0.00 303,100.97
A-13 66937NV88 TAC 6.75000% 139,333,171.70 783,749.09 3,915,270.66
A-14 66937NV96 TAC 6.70000% 123,609,981.99 690,155.73 3,473,448.07
A-15 66937NW20 TAC 8.00000% 4,944,399.28 32,962.66 138,937.92
A-16 66937NW38 SEQ 6.75000% 3,674,552.98 20,669.36 3,674,552.98
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% 100.00 140.26 0.00
B-1 66937NX37 SUB 6.75000% 10,846,073.48 61,009.16 8,522.27
B-2 66937NX45 SUB 6.75000% 9,399,598.05 52,872.74 7,385.71
B-3 66937NX29 SUB 6.75000% 3,253,822.04 18,302.75 2,556.68
B-4 66937NX52 SUB 6.75000% 2,170,211.58 12,207.44 1,705.24
B-5 66937NX60 SUB 6.75000% 1,445,478.54 8,130.82 1,135.78
B-6 66937NX78 SUB 6.75000% 1,808,370.17 10,172.08 1,420.92
Totals 690,701,252.03 3,880,703.38 19,712,421.97
</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 0.00 644,824.03 658.67 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 21,767,325.73 2,099,322.91 0.00
A-5 0.00 18,599,088.28 905,206.24 0.00
A-6 0.00 0.00 14,018.03 0.00
A-7 0.00 346,944.51 0.00 0.00
A-8 0.00 77,776,898.57 972,991.12 0.00
A-9 0.00 0.00 1,618,517.88 0.00
A-10 0.00 1,332,115.13 3,324,353.78 0.00
A-11 0.00 682,564.42 0.00 0.00
A-12 0.00 4,463,145.80 303,100.97 0.00
A-13 0.00 135,417,901.04 4,699,019.75 0.00
A-14 0.00 120,136,533.92 4,163,603.80 0.00
A-15 0.00 4,805,461.36 171,900.58 0.00
A-16 0.00 0.00 3,695,222.34 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 0.00 100.00 140.26 0.00
B-1 0.00 10,837,551.21 69,531.43 0.00
B-2 0.00 9,392,212.35 60,258.45 0.00
B-3 0.00 3,251,265.36 20,859.43 0.00
B-4 0.00 2,168,506.34 13,912.68 0.00
B-5 0.00 1,444,342.76 9,266.60 0.00
B-6 0.00 1,806,949.25 11,593.00 2,040.93
Totals 0.00 670,988,830.06 23,593,125.35 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 649,200.83 645,482.70 579.16 79.51 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 23,728,233.94 51,737.31 1,909,170.90 0.00 0.00
A-5 20,000,000.00 19,391,179.31 20,898.82 771,192.21 0.00 0.00
A-6 3,692,000.00 13,936.73 369.86 13,648.17 -81.30 0.00
A-7 337,000.00 344,932.41 0.00 0.00 -2,012.11 0.00
A-8 79,931,000.00 78,293,179.48 13,621.74 502,659.17 0.00 0.00
A-9 9,600,000.00 1,609,131.28 42,703.56 1,575,814.32 -9,386.60 0.00
A-10 4,523,000.00 4,629,463.71 87,710.95 3,236,642.83 -27,005.20 0.00
A-11 663,000.00 678,605.89 0.00 0.00 -3,958.53 0.00
A-12 5,298,000.00 4,766,246.77 7,997.13 295,103.84 0.00 0.00
A-13 140,900,000.00 139,333,171.70 103,301.91 3,811,968.74 0.00 0.00
A-14 125,000,000.00 123,609,981.99 91,644.71 3,381,803.36 0.00 0.00
A-15 5,000,000.00 4,944,399.28 3,665.79 135,272.13 0.00 0.00
A-16 20,315,000.00 3,674,552.98 97,496.08 3,597,726.26 -20,669.36 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 10,846,073.48 8,522.27 0.00 0.00 0.00
B-2 9,429,000.00 9,399,598.05 7,385.71 0.00 0.00 0.00
B-3 3,264,000.00 3,253,822.04 2,556.68 0.00 0.00 0.00
B-4 2,177,000.00 2,170,211.58 1,705.24 0.00 0.00 0.00
B-5 1,450,000.00 1,445,478.54 1,135.78 0.00 0.00 0.00
B-6 1,814,026.74 1,808,370.17 1,420.92 0.00 0.00 0.00
Totals 725,337,427.57 690,701,252.03 544,453.62 19,231,081.44 (63,113.10) 0.00
<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 658.67 644,824.03 0.99325817 658.67
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 1,960,908.21 21,767,325.73 0.89577472 1,960,908.21
A-5 792,091.03 18,599,088.28 0.92995441 792,091.03
A-6 13,936.73 0.00 0.00000000 13,936.73
A-7 (2,012.11) 346,944.51 1.02950893 (2,012.11)
A-8 516,280.91 77,776,898.57 0.97305049 516,280.91
A-9 1,609,131.28 0.00 0.00000000 1,609,131.28
A-10 3,297,348.58 1,332,115.13 0.29452026 3,297,348.58
A-11 (3,958.53) 682,564.42 1.02950893 (3,958.53)
A-12 303,100.97 4,463,145.80 0.84242088 303,100.97
A-13 3,915,270.66 135,417,901.04 0.96109227 3,915,270.66
A-14 3,473,448.07 120,136,533.92 0.96109227 3,473,448.07
A-15 138,937.92 4,805,461.36 0.96109227 138,937.92
A-16 3,674,552.98 0.00 0.00000000 3,674,552.98
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 8,522.27 10,837,551.21 0.99609846 8,522.27
B-2 7,385.71 9,392,212.35 0.99609846 7,385.71
B-3 2,556.68 3,251,265.36 0.99609846 2,556.68
B-4 1,705.24 2,168,506.34 0.99609846 1,705.24
B-5 1,135.78 1,444,342.76 0.99609846 1,135.78
B-6 1,420.92 1,806,949.25 0.99609846 1,420.92
Totals 19,712,421.97 670,988,830.06 0.92507129 19,712,421.97
</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 649,200.83 994.27275840 0.89211223 0.12247366 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 24,300,000.00 976.47053251 2.12910741 78.56670370 0.00000000
A-5 20,000,000.00 969.55896550 1.04494100 38.55961050 0.00000000
A-6 3,692,000.00 3.77484561 0.10017876 3.69668743 -0.02202059
A-7 337,000.00 1023.53830861 0.00000000 0.00000000 -5.97065282
A-8 79,931,000.00 979.50957050 0.17041874 6.28866360 0.00000000
A-9 9,600,000.00 167.61784167 4.44828750 164.14732500 -0.97777083
A-10 4,523,000.00 1023.53829538 19.39220650 715.59646916 -5.97063896
A-11 663,000.00 1023.53829563 0.00000000 0.00000000 -5.97063348
A-12 5,298,000.00 899.63132692 1.50946206 55.70098905 0.00000000
A-13 140,900,000.00 988.87985593 0.73315763 27.05442683 0.00000000
A-14 125,000,000.00 988.87985592 0.73315768 27.05442688 0.00000000
A-15 5,000,000.00 988.87985600 0.73315800 27.05442600 0.00000000
A-16 20,315,000.00 180.87880778 4.79921634 177.09703470 -1.01744327
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 10,880,000.00 996.88175368 0.78329688 0.00000000 0.00000000
B-2 9,429,000.00 996.88175310 0.78329727 0.00000000 0.00000000
B-3 3,264,000.00 996.88175245 0.78329657 0.00000000 0.00000000
B-4 2,177,000.00 996.88175471 0.78329812 0.00000000 0.00000000
B-5 1,450,000.00 996.88175172 0.78329655 0.00000000 0.00000000
B-6 1,814,026.74 996.88176041 0.78329606 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 1.01458589 993.25817251 0.99325817 1.01458589
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 80.69581111 895.77472140 0.89577472 80.69581111
A-5 0.00000000 39.60455150 929.95441400 0.92995441 39.60455150
A-6 0.00000000 3.77484561 0.00000000 0.00000000 3.77484561
A-7 0.00000000 -5.97065282 1,029.50893175 1.02950893 -5.97065282
A-8 0.00000000 6.45908233 973.05048817 0.97305049 6.45908233
A-9 0.00000000 167.61784167 0.00000000 0.00000000 167.61784167
A-10 0.00000000 729.01803670 294.52025868 0.29452026 729.01803670
A-11 0.00000000 -5.97063348 1,029.50892911 1.02950893 -5.97063348
A-12 0.00000000 57.21045111 842.42087580 0.84242088 57.21045111
A-13 0.00000000 27.78758453 961.09227140 0.96109227 27.78758453
A-14 0.00000000 27.78758456 961.09227136 0.96109227 27.78758456
A-15 0.00000000 27.78758400 961.09227200 0.96109227 27.78758400
A-16 0.00000000 180.87880778 0.00000000 0.00000000 180.87880778
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 0.78329688 996.09845680 0.99609846 0.78329688
B-2 0.00000000 0.78329727 996.09845689 0.99609846 0.78329727
B-3 0.00000000 0.78329657 996.09845588 0.99609846 0.78329657
B-4 0.00000000 0.78329812 996.09845659 0.99609846 0.78329812
B-5 0.00000000 0.78329655 996.09845517 0.99609846 0.78329655
B-6 0.00000000 0.78329606 996.09846435 0.99609846 0.78329606
<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% 645,482.70 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% 23,728,233.94 138,414.70 0.00 0.00
A-5 20,000,000.00 7.00000% 19,391,179.31 113,115.21 0.00 0.00
A-6 3,692,000.00 7.00000% 13,936.73 81.30 0.00 0.00
A-7 337,000.00 7.00000% 344,932.41 2,012.11 0.00 0.00
A-8 79,931,000.00 7.00000% 78,293,179.48 456,710.21 0.00 0.00
A-9 9,600,000.00 7.00000% 1,609,131.28 9,386.60 0.00 0.00
A-10 4,523,000.00 7.00000% 4,629,463.71 27,005.20 0.00 0.00
A-11 663,000.00 7.00000% 678,605.89 3,958.53 0.00 0.00
A-12 5,298,000.00 0.00000% 4,766,246.77 0.00 0.00 0.00
A-13 140,900,000.00 6.75000% 139,333,171.70 783,749.09 0.00 0.00
A-14 125,000,000.00 6.70000% 123,609,981.99 690,155.73 0.00 0.00
A-15 5,000,000.00 8.00000% 4,944,399.28 32,962.66 0.00 0.00
A-16 20,315,000.00 6.75000% 3,674,552.98 20,669.36 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% 10,846,073.48 61,009.16 0.00 0.00
B-2 9,429,000.00 6.75000% 9,399,598.05 52,872.74 0.00 0.00
B-3 3,264,000.00 6.75000% 3,253,822.04 18,302.75 0.00 0.00
B-4 2,177,000.00 6.75000% 2,170,211.58 12,207.44 0.00 0.00
B-5 1,450,000.00 6.75000% 1,445,478.54 8,130.82 0.00 0.00
B-6 1,814,026.74 6.75000% 1,808,370.17 10,172.08 0.00 0.00
Totals 725,337,427.57 3,880,563.68 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 0.00 644,824.03
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 0.00 138,414.70 0.00 21,767,325.73
A-5 0.00 0.00 113,115.21 0.00 18,599,088.28
A-6 0.00 0.00 81.30 0.00 0.00
A-7 0.00 0.00 2,012.11 0.00 346,944.51
A-8 0.00 0.00 456,710.21 0.00 77,776,898.57
A-9 0.00 0.00 9,386.60 0.00 0.00
A-10 0.00 0.00 27,005.20 0.00 1,332,115.13
A-11 0.00 0.00 3,958.53 0.00 682,564.42
A-12 0.00 0.00 0.00 0.00 4,463,145.80
A-13 0.00 0.00 783,749.09 0.00 135,417,901.04
A-14 0.00 0.00 690,155.73 0.00 120,136,533.92
A-15 0.00 0.00 32,962.66 0.00 4,805,461.36
A-16 0.00 0.00 20,669.36 0.00 0.00
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 0.00 140.26 0.00 100.00
B-1 0.00 0.00 61,009.16 0.00 10,837,551.21
B-2 0.00 0.00 52,872.74 0.00 9,392,212.35
B-3 0.00 0.00 18,302.75 0.00 3,251,265.36
B-4 0.00 0.00 12,207.44 0.00 2,168,506.34
B-5 0.00 0.00 8,130.82 0.00 1,444,342.76
B-6 0.00 0.00 10,172.08 0.00 1,806,949.25
Totals 0.00 0.00 3,880,703.38 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% 994.27275840 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% 976.47053251 5.69607819 0.00000000 0.00000000
A-5 20,000,000.00 7.00000% 969.55896550 5.65576050 0.00000000 0.00000000
A-6 3,692,000.00 7.00000% 3.77484561 0.02202059 0.00000000 0.00000000
A-7 337,000.00 7.00000% 1023.53830861 5.97065282 0.00000000 0.00000000
A-8 79,931,000.00 7.00000% 979.50957050 5.71380578 0.00000000 0.00000000
A-9 9,600,000.00 7.00000% 167.61784167 0.97777083 0.00000000 0.00000000
A-10 4,523,000.00 7.00000% 1023.53829538 5.97063896 0.00000000 0.00000000
A-11 663,000.00 7.00000% 1023.53829563 5.97063348 0.00000000 0.00000000
A-12 5,298,000.00 0.00000% 899.63132692 0.00000000 0.00000000 0.00000000
A-13 140,900,000.00 6.75000% 988.87985593 5.56244918 0.00000000 0.00000000
A-14 125,000,000.00 6.70000% 988.87985592 5.52124584 0.00000000 0.00000000
A-15 5,000,000.00 8.00000% 988.87985600 6.59253200 0.00000000 0.00000000
A-16 20,315,000.00 6.75000% 180.87880778 1.01744327 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% 996.88175368 5.60745956 0.00000000 0.00000000
B-2 9,429,000.00 6.75000% 996.88175310 5.60745996 0.00000000 0.00000000
B-3 3,264,000.00 6.75000% 996.88175245 5.60746017 0.00000000 0.00000000
B-4 2,177,000.00 6.75000% 996.88175471 5.60745981 0.00000000 0.00000000
B-5 1,450,000.00 6.75000% 996.88175172 5.60746207 0.00000000 0.00000000
B-6 1,814,026.74 6.75000% 996.88176041 5.60745869 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 993.25817251
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 5.69607819 0.00000000 895.77472140
A-5 0.00000000 0.00000000 5.65576050 0.00000000 929.95441400
A-6 0.00000000 0.00000000 0.02202059 0.00000000 0.00000000
A-7 0.00000000 0.00000000 5.97065282 0.00000000 1029.50893175
A-8 0.00000000 0.00000000 5.71380578 0.00000000 973.05048817
A-9 0.00000000 0.00000000 0.97777083 0.00000000 0.00000000
A-10 0.00000000 0.00000000 5.97063896 0.00000000 294.52025868
A-11 0.00000000 0.00000000 5.97063348 0.00000000 1029.50892911
A-12 0.00000000 0.00000000 0.00000000 0.00000000 842.42087580
A-13 0.00000000 0.00000000 5.56244918 0.00000000 961.09227140
A-14 0.00000000 0.00000000 5.52124584 0.00000000 961.09227136
A-15 0.00000000 0.00000000 6.59253200 0.00000000 961.09227200
A-16 0.00000000 0.00000000 1.01744327 0.00000000 0.00000000
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 1402.60000000 0.00000000 1000.00000000
B-1 0.00000000 0.00000000 5.60745956 0.00000000 996.09845680
B-2 0.00000000 0.00000000 5.60745996 0.00000000 996.09845689
B-3 0.00000000 0.00000000 5.60746017 0.00000000 996.09845588
B-4 0.00000000 0.00000000 5.60745981 0.00000000 996.09845659
B-5 0.00000000 0.00000000 5.60746207 0.00000000 996.09845517
B-6 0.00000000 0.00000000 5.60745869 0.00000000 996.09846435
<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 Notional Notional Component Component Component
Rate Balance Balance Balance Balance Percentage
Class
<S> <C> <C> <C> <C> <C> <C>
A-5 SCH 7.00000% 0.00 0.00 7,518,823.10 6,897,465.35 89.57747208%
A-5 SCH 7.00000% 0.00 0.00 11,872,356.21 11,701,622.93 95.13514577%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 23,827,386.63
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 73,232.18
Realized Losses 0.00
Total Deposits 23,900,618.81
Withdrawals
Reimbursement for Servicer Advances 162,676.04
Payment of Service Fee 143,817.38
Payment of Interest and Principal 23,594,125.35
Total Withdrawals (Pool Distribution Amount) 23,900,618.77
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 12,209.62
Servicing Fee Support 12,209.62
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 146,242.12
Master Servicing Fee 9,784.89
Supported Prepayment/Curtailment Interest Shortfall 12,209.62
Net Servicing Fee 143,817.39
</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 5 1,540,525.71 0.239349% 0.229590%
60 Days 1 228,972.89 0.047870% 0.034125%
90+ Days 1 259,612.87 0.047870% 0.038691%
Foreclosure 0 0.00 0.000000% 0.000000%
REO 0 0.00 0.000000% 0.000000%
Totals 7 2,029,111.47 0.335089% 0.302406%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 0.00
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 743,942.38
</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% 28,900,827.27 4.30719946% 95.688657% 100.000000%
Class B-1 18,134,026.74 2.50008149% 18,063,276.06 2.69203827% 1.616715% 0.000000%
Class B-2 8,705,026.74 1.20013478% 8,671,063.71 1.29228138% 1.401103% 0.000000%
Class B-3 5,441,026.74 0.75013732% 5,419,798.35 0.80773302% 0.485014% 0.000000%
Class B-4 3,264,026.74 0.45000115% 3,251,292.01 0.48455233% 0.323492% 0.000000%
Class B-5 1,814,026.74 0.25009419% 1,806,949.25 0.26929647% 0.215463% 0.000000%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.269556% 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 0.03368702%
Fraud 14,506,748.55 2.00000000% 14,506,748.55 2.16199554%
Special Hazard 7,253,374.28 1.00000000% 7,253,374.28 1.08099777%
<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 7.442092%
Weighted Average Pass-Through Rate 6.750000%
Weighted Average Maturity(Stepdown Calculation ) 352
Begin Scheduled Collateral Loan Count 2,145
Number Of Loans Paid In Full 56
End Scheduled Collateral Loan Count 2,089
Begining Scheduled Collateral Balance 690,701,252.02
Ending Scheduled Collateral Balance 670,988,830.07
Ending Actual Collateral Balance at 30-Oct-1998 679,302,768.78
Ending Scheduled Balance For Norwest 595,795,342.30
Ending Scheduled Balance For Other Services 75,193,487.77
Monthly P &I Constant 4,597,575.70
Class A Optimal Amount 23,406,905.38
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 622,841,744.32
Ending scheduled Balance For discounted Loans 48,147,085.75
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 582,779,617.50
Greater Than 80%, less than or equal to 85% 14,531,147.42
Greater than 85%, less than or equal to 95% 73,743,407.63
Greater than 95% 0.00
</TABLE>
