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): December 28, 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 December 28, 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 December 28,
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: 01/07/1999
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 December
28, 1998 distribution.
<TABLE>
<CAPTION>
Norwest Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 11/30/1998
Distribution Date: 12/28/1998
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% 644,824.03 0.00 834.95
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% 21,767,325.73 126,976.07 837,893.77
A-5 66937NU89 SCH 7.00000% 18,599,088.28 108,494.68 461,448.90
A-6 66937NU97 SEQ 7.00000% 0.00 0.00 0.00
A-7 66937NV21 SEQ 7.00000% 346,944.51 2,023.84 -2,023.84
A-8 66937NV39 SCH 7.00000% 77,776,898.57 453,698.58 1,214,400.95
A-9 66937NV47 SEQ 7.00000% 0.00 0.00 0.00
A-10 66937NV54 SEQ 7.00000% 1,332,115.13 7,770.67 1,332,115.13
A-11 66937NV62 SEQ 7.00000% 682,564.42 3,981.63 -3,981.63
A-12 66937NV70 PO 0.00000% 4,463,145.80 0.00 142,216.79
A-13 66937NV88 TAC 6.75000% 135,417,901.04 761,725.69 2,733,815.68
A-14 66937NV96 TAC 6.70000% 120,136,533.92 670,762.31 2,425,315.54
A-15 66937NW20 TAC 8.00000% 4,805,461.36 32,036.41 97,012.62
A-16 66937NW38 SEQ 6.75000% 0.00 0.00 0.00
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% 10,837,551.21 60,961.23 8,728.60
B-2 66937NX45 SUB 6.75000% 9,392,212.35 52,831.19 7,564.52
B-3 66937NX29 SUB 6.75000% 3,251,265.36 18,288.37 2,618.58
B-4 66937NX52 SUB 6.75000% 2,168,506.34 12,197.85 1,746.52
B-5 66937NX60 SUB 6.75000% 1,444,342.76 8,124.43 1,163.28
B-6 66937NX78 SUB 6.75000% 1,806,949.25 10,164.09 1,393.03
Totals 670,988,830.06 3,769,685.03 9,262,263.39
</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 0.00 643,989.07 834.95 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 20,929,431.96 964,869.84 0.00
A-5 0.00 18,137,639.38 569,943.58 0.00
A-6 0.00 0.00 0.00 0.00
A-7 0.00 348,968.35 0.00 0.00
A-8 0.00 76,562,497.62 1,668,099.53 0.00
A-9 0.00 0.00 0.00 0.00
A-10 0.00 0.00 1,339,885.80 0.00
A-11 0.00 686,546.05 0.00 0.00
A-12 0.00 4,320,929.01 142,216.79 0.00
A-13 0.00 132,684,085.36 3,495,541.37 0.00
A-14 0.00 117,711,218.38 3,096,077.85 0.00
A-15 0.00 4,708,448.74 129,049.03 0.00
A-16 0.00 0.00 0.00 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 10,828,822.61 69,689.83 0.00
B-2 0.00 9,384,647.83 60,395.71 0.00
B-3 0.00 3,248,646.78 20,906.95 0.00
B-4 0.00 2,166,759.82 13,944.37 0.00
B-5 0.00 1,443,179.48 9,287.71 0.00
B-6 62.29 1,805,493.93 11,557.12 2,103.22
Totals 62.29 661,726,504.37 13,031,948.42 2,103.22
<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 649,200.83 644,824.03 582.89 252.06 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 21,767,325.73 46,856.81 791,036.96 0.00 0.00
A-5 20,000,000.00 18,599,088.28 25,805.21 435,643.69 0.00 0.00
A-6 3,692,000.00 0.00 0.00 0.00 0.00 0.00
A-7 337,000.00 346,944.51 0.00 0.00 -2,023.84 0.00
A-8 79,931,000.00 77,776,898.57 67,911.90 1,146,489.05 0.00 0.00
A-9 9,600,000.00 0.00 0.00 0.00 0.00 0.00
A-10 4,523,000.00 1,332,115.13 74,929.28 1,264,956.52 -7,770.67 0.00
A-11 663,000.00 682,564.42 0.00 0.00 -3,981.63 0.00
A-12 5,298,000.00 4,463,145.80 7,953.07 134,263.72 0.00 0.00
A-13 140,900,000.00 135,417,901.04 152,880.82 2,580,934.85 0.00 0.00
A-14 125,000,000.00 120,136,533.92 135,628.84 2,289,686.71 0.00 0.00
A-15 5,000,000.00 4,805,461.36 5,425.15 91,587.47 0.00 0.00
A-16 20,315,000.00 0.00 0.00 0.00 0.00 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 10,837,551.21 8,728.60 0.00 0.00 0.00
B-2 9,429,000.00 9,392,212.35 7,564.52 0.00 0.00 0.00
B-3 3,264,000.00 3,251,265.36 2,618.58 0.00 0.00 0.00
B-4 2,177,000.00 2,168,506.34 1,746.52 0.00 0.00 0.00
B-5 1,450,000.00 1,444,342.76 1,163.28 0.00 0.00 0.00
B-6 1,814,026.74 1,806,949.25 1,393.03 0.00 0.00 62.29
Totals 725,337,427.57 670,988,830.06 541,188.50 8,734,851.03 (13,776.14) 62.29
<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 834.95 643,989.07 0.99197204 834.95
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-4 837,893.77 20,929,431.96 0.86129350 837,893.77
A-5 461,448.90 18,137,639.38 0.90688197 461,448.90
A-6 0.00 0.00 0.00000000 0.00
A-7 (2,023.84) 348,968.35 1.03551439 (2,023.84)
A-8 1,214,400.95 76,562,497.62 0.95785737 1,214,400.95
A-9 0.00 0.00 0.00000000 0.00
A-10 1,332,115.13 0.00 0.00000000 1,332,115.13
A-11 (3,981.63) 686,546.05 1.03551440 (3,981.63)
A-12 142,216.79 4,320,929.01 0.81557739 142,216.79
A-13 2,733,815.68 132,684,085.36 0.94168975 2,733,815.68
A-14 2,425,315.54 117,711,218.38 0.94168975 2,425,315.54
A-15 97,012.62 4,708,448.74 0.94168975 97,012.62
A-16 0.00 0.00 0.00000000 0.00
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 8,728.60 10,828,822.61 0.99529620 8,728.60
B-2 7,564.52 9,384,647.83 0.99529620 7,564.52
B-3 2,618.58 3,248,646.78 0.99529619 2,618.58
B-4 1,746.52 2,166,759.82 0.99529620 1,746.52
B-5 1,163.28 1,443,179.48 0.99529619 1,163.28
B-6 1,455.32 1,805,493.93 0.99529620 1,393.03
Totals 9,262,325.68 661,726,504.37 0.91230161 9,262,263.39
</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 649,200.83 993.25817251 0.89785776 0.38826198 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 24,300,000.00 895.77472140 1.92826379 32.55296132 0.00000000
A-5 20,000,000.00 929.95441400 1.29026050 21.78218450 0.00000000
A-6 3,692,000.00 0.00000000 0.00000000 0.00000000 0.00000000
A-7 337,000.00 1029.50893175 0.00000000 0.00000000 -6.00545994
A-8 79,931,000.00 973.05048817 0.84963156 14.34348438 0.00000000
A-9 9,600,000.00 0.00000000 0.00000000 0.00000000 0.00000000
A-10 4,523,000.00 294.52025868 16.56627902 279.67201415 -1.71803449
A-11 663,000.00 1029.50892911 0.00000000 0.00000000 -6.00547511
A-12 5,298,000.00 842.42087580 1.50114572 25.34234051 0.00000000
A-13 140,900,000.00 961.09227140 1.08503066 18.31749361 0.00000000
A-14 125,000,000.00 961.09227136 1.08503072 18.31749368 0.00000000
A-15 5,000,000.00 961.09227200 1.08503000 18.31749400 0.00000000
A-16 20,315,000.00 0.00000000 0.00000000 0.00000000 0.00000000
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 10,880,000.00 996.09845680 0.80226103 0.00000000 0.00000000
B-2 9,429,000.00 996.09845689 0.80226111 0.00000000 0.00000000
B-3 3,264,000.00 996.09845588 0.80226103 0.00000000 0.00000000
B-4 2,177,000.00 996.09845659 0.80225999 0.00000000 0.00000000
B-5 1,450,000.00 996.09845517 0.80226207 0.00000000 0.00000000
B-6 1,814,026.74 996.09846435 0.76792143 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 1.28611974 991.97203737 0.99197204 1.28611974
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 34.48122510 861.29349630 0.86129350 34.48122510
A-5 0.00000000 23.07244500 906.88196900 0.90688197 23.07244500
A-6 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-7 0.00000000 -6.00545994 1,035.51439169 1.03551439 -6.00545994
A-8 0.00000000 15.19311594 957.85737223 0.95785737 15.19311594
A-9 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-10 0.00000000 294.52025868 0.00000000 0.00000000 294.52025868
A-11 0.00000000 -6.00547511 1,035.51440422 1.03551440 -6.00547511
A-12 0.00000000 26.84348622 815.57738958 0.81557739 26.84348622
A-13 0.00000000 19.40252434 941.68974705 0.94168975 19.40252434
A-14 0.00000000 19.40252432 941.68974704 0.94168975 19.40252432
A-15 0.00000000 19.40252400 941.68974800 0.94168975 19.40252400
A-16 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
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 0.80226103 995.29619577 0.99529620 0.80226103
B-2 0.00000000 0.80226111 995.29619578 0.99529620 0.80226111
B-3 0.00000000 0.80226103 995.29619485 0.99529619 0.80226103
B-4 0.00000000 0.80225999 995.29619660 0.99529620 0.80225999
B-5 0.00000000 0.80226207 995.29619310 0.99529619 0.80226207
B-6 0.03433797 0.80225940 995.29620495 0.99529620 0.76792143
<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% 644,824.03 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% 21,767,325.73 126,976.07 0.00 0.00
A-5 20,000,000.00 7.00000% 18,599,088.28 108,494.68 0.00 0.00
A-6 3,692,000.00 7.00000% 0.00 0.00 0.00 0.00
A-7 337,000.00 7.00000% 346,944.51 2,023.84 0.00 0.00
A-8 79,931,000.00 7.00000% 77,776,898.57 453,698.58 0.00 0.00
A-9 9,600,000.00 7.00000% 0.00 0.00 0.00 0.00
A-10 4,523,000.00 7.00000% 1,332,115.13 7,770.67 0.00 0.00
A-11 663,000.00 7.00000% 682,564.42 3,981.63 0.00 0.00
A-12 5,298,000.00 0.00000% 4,463,145.80 0.00 0.00 0.00
A-13 140,900,000.00 6.75000% 135,417,901.04 761,725.69 0.00 0.00
A-14 125,000,000.00 6.70000% 120,136,533.92 670,762.31 0.00 0.00
A-15 5,000,000.00 8.00000% 4,805,461.36 32,036.41 0.00 0.00
A-16 20,315,000.00 6.75000% 0.00 0.00 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% 10,837,551.21 60,961.23 0.00 0.00
B-2 9,429,000.00 6.75000% 9,392,212.35 52,831.19 0.00 0.00
B-3 3,264,000.00 6.75000% 3,251,265.36 18,288.37 0.00 0.00
B-4 2,177,000.00 6.75000% 2,168,506.34 12,197.85 0.00 0.00
B-5 1,450,000.00 6.75000% 1,444,342.76 8,124.43 0.00 0.00
B-6 1,814,026.74 6.75000% 1,806,949.25 10,164.09 0.00 0.00
Totals 725,337,427.57 3,769,685.03 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 0.00 643,989.07
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 0.00 126,976.07 0.00 20,929,431.96
A-5 0.00 0.00 108,494.68 0.00 18,137,639.38
A-6 0.00 0.00 0.00 0.00 0.00
A-7 0.00 0.00 2,023.84 0.00 348,968.35
A-8 0.00 0.00 453,698.58 0.00 76,562,497.62
A-9 0.00 0.00 0.00 0.00 0.00
A-10 0.00 0.00 7,770.67 0.00 0.00
A-11 0.00 0.00 3,981.63 0.00 686,546.05
A-12 0.00 0.00 0.00 0.00 4,320,929.01
A-13 0.00 0.00 761,725.69 0.00 132,684,085.36
A-14 0.00 0.00 670,762.31 0.00 117,711,218.38
A-15 0.00 0.00 32,036.41 0.00 4,708,448.74
A-16 0.00 0.00 0.00 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 0.56 0.00 100.00
B-1 0.00 0.00 60,961.23 0.00 10,828,822.61
B-2 0.00 0.00 52,831.19 0.00 9,384,647.83
B-3 0.00 0.00 18,288.37 0.00 3,248,646.78
B-4 0.00 0.00 12,197.85 0.00 2,166,759.82
B-5 0.00 0.00 8,124.43 0.00 1,443,179.48
B-6 0.00 0.00 10,164.09 0.00 1,805,493.93
Totals 0.00 0.00 3,769,685.03 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% 993.25817251 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% 895.77472140 5.22535267 0.00000000 0.00000000
A-5 20,000,000.00 7.00000% 929.95441400 5.42473400 0.00000000 0.00000000
A-6 3,692,000.00 7.00000% 0.00000000 0.00000000 0.00000000 0.00000000
A-7 337,000.00 7.00000% 1029.50893175 6.00545994 0.00000000 0.00000000
A-8 79,931,000.00 7.00000% 973.05048817 5.67612791 0.00000000 0.00000000
A-9 9,600,000.00 7.00000% 0.00000000 0.00000000 0.00000000 0.00000000
A-10 4,523,000.00 7.00000% 294.52025868 1.71803449 0.00000000 0.00000000
A-11 663,000.00 7.00000% 1029.50892911 6.00547511 0.00000000 0.00000000
A-12 5,298,000.00 0.00000% 842.42087580 0.00000000 0.00000000 0.00000000
A-13 140,900,000.00 6.75000% 961.09227140 5.40614400 0.00000000 0.00000000
A-14 125,000,000.00 6.70000% 961.09227136 5.36609848 0.00000000 0.00000000
A-15 5,000,000.00 8.00000% 961.09227200 6.40728200 0.00000000 0.00000000
A-16 20,315,000.00 6.75000% 0.00000000 0.00000000 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% 996.09845680 5.60305423 0.00000000 0.00000000
B-2 9,429,000.00 6.75000% 996.09845689 5.60305335 0.00000000 0.00000000
B-3 3,264,000.00 6.75000% 996.09845588 5.60305453 0.00000000 0.00000000
B-4 2,177,000.00 6.75000% 996.09845659 5.60305466 0.00000000 0.00000000
B-5 1,450,000.00 6.75000% 996.09845517 5.60305517 0.00000000 0.00000000
B-6 1,814,026.74 6.75000% 996.09846435 5.60305412 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 991.97203737
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 5.22535267 0.00000000 861.29349630
A-5 0.00000000 0.00000000 5.42473400 0.00000000 906.88196900
A-6 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-7 0.00000000 0.00000000 6.00545994 0.00000000 1035.51439169
A-8 0.00000000 0.00000000 5.67612791 0.00000000 957.85737223
A-9 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-10 0.00000000 0.00000000 1.71803449 0.00000000 0.00000000
A-11 0.00000000 0.00000000 6.00547511 0.00000000 1035.51440422
A-12 0.00000000 0.00000000 0.00000000 0.00000000 815.57738958
A-13 0.00000000 0.00000000 5.40614400 0.00000000 941.68974705
A-14 0.00000000 0.00000000 5.36609848 0.00000000 941.68974704
A-15 0.00000000 0.00000000 6.40728200 0.00000000 941.68974800
A-16 0.00000000 0.00000000 0.00000000 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 5.60000000 0.00000000 1000.00000000
B-1 0.00000000 0.00000000 5.60305423 0.00000000 995.29619577
B-2 0.00000000 0.00000000 5.60305335 0.00000000 995.29619578
B-3 0.00000000 0.00000000 5.60305453 0.00000000 995.29619485
B-4 0.00000000 0.00000000 5.60305466 0.00000000 995.29619660
B-5 0.00000000 0.00000000 5.60305517 0.00000000 995.29619310
B-6 0.00000000 0.00000000 5.60305412 0.00000000 995.29620495
<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 6,897,465.35 6,631,959.92 86.12934961%
A-5 SCH 7.00000% 0.00 0.00 11,701,622.93 11,505,679.46 93.54210943%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 13,267,823.13
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 13,267,823.13
Withdrawals
Reimbursement for Servicer Advances 73,232.18
Payment of Service Fee 140,745.01
Payment of Interest and Principal 13,032,948.44
Total Withdrawals (Pool Distribution Amount) 13,246,925.63
Ending Balance 20,897.49
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 10,867.18
Servicing Fee Support 10,867.18
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 142,106.55
Master Servicing Fee 9,505.64
Supported Prepayment/Curtailment Interest Shortfall 10,867.18
Net Servicing Fee 140,745.01
</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 1,721,141.57 0.241896% 0.260099%
60 Days 1 249,179.68 0.048379% 0.037656%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 1 259,612.87 0.048379% 0.039233%
REO 0 0.00 0.000000% 0.000000%
Totals 7 2,229,934.12 0.338655% 0.336987%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 62.29
Cumulative Realized Losses - Includes Interest Shortfall 2,103.22
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 646,618.78
</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% 28,877,550.45 4.36397065% 95.631778% 100.000000%
Class B-1 18,134,026.74 2.50008149% 18,048,727.84 2.72752077% 1.638044% 0.000000%
Class B-2 8,705,026.74 1.20013478% 8,664,080.01 1.30931434% 1.419588% 0.000000%
Class B-3 5,441,026.74 0.75013732% 5,415,433.23 0.81837937% 0.491413% 0.000000%
Class B-4 3,264,026.74 0.45000115% 3,248,673.41 0.49093899% 0.327759% 0.000000%
Class B-5 1,814,026.74 0.25009419% 1,805,493.93 0.27284594% 0.218305% 0.000000%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.273112% 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 0.03415855%
Fraud 14,506,748.55 2.00000000% 14,506,748.55 2.19225744%
Special Hazard 7,253,374.28 1.00000000% 7,253,374.28 1.09612872%
<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 7.437094%
Weighted Average Pass-Through Rate 6.750000%
Weighted Average Maturity(Stepdown Calculation ) 351
Begin Scheduled Collateral Loan Count 2,089
Number Of Loans Paid In Full 22
End Scheduled Collateral Loan Count 2,067
Begining Scheduled Collateral Balance 670,988,830.07
Ending Scheduled Collateral Balance 661,726,504.37
Ending Actual Collateral Balance at 30-Nov-1998 665,010,066.58
Ending Scheduled Balance For Norwest 587,554,444.11
Ending Scheduled Balance For Other Services 74,172,060.26
Monthly P &I Constant 4,469,196.36
Class A Optimal Amount 12,845,331.78
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 613,631,404.14
Ending scheduled Balance For discounted Loans 48,095,100.23
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 573,584,217.44
Greater Than 80%, less than or equal to 85% 14,515,771.38
Greater than 85%, less than or equal to 95% 73,679,328.83
Greater than 95% 0.00
</TABLE>
