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): August 25, 1998
NORWEST ASSET SECURITIES CORPORATION
Mortgage Pass-Through Certificates, Series 1998-17 Trust
New York (governing law of 333-45021-14 52-2116837
Pooling and Servicing Agreement) (Commission 52-2116838
(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 August 25, 1998 a distribution was made to holders of NORWEST ASSET
SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 1998-17
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 1998-17 Trust,
relating to the August 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 1998-17 Trust
By: Norwest Bank Minnesota, N.A., as Master Servicer
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 8/28/98
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1998-17 Trust, relating to the August 25,
1998 distribution.
<TABLE>
<CAPTION>
Norwest Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 7/31/98
Distribution Date: 8/25/98
NASCOR Series: 1998-17
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 NMBPO9817 PO 0.00000% 685,745.91 0.00 693.62
A-1 66937NY85 PAC 6.75000% 131,360,000.00 738,900.00 1,315,918.55
A-2 66937NY93 PAC 6.25000% 108,084,000.00 562,937.50 609,988.35
A-3 66937NZ27 PAC 6.35000% 90,373,000.00 478,223.79 0.00
A-4 66937NZ35 PAC 6.35000% 2,000,000.00 10,583.33 0.00
A-5 66937NZ43 SCH 6.50000% 150,419,000.00 814,769.58 761,955.09
A-6 66937NZ50 SEQ 6.55600% 20,468,700.00 111,827.33 1,577,408.76
A-7 66937NZ68 SEQ 7.49800% 5,306,700.00 33,158.03 408,957.83
A-8 66937N2C1 SCH 1.66962% 90,000,000.00 613,413.29 -412,500.00
A-9 66937N2D9 SEQ 6.65600% 21,756,600.00 120,676.61 1,676,660.05
A-10 66937N2E7 SEQ 7.25800% 4,029,000.00 24,368.73 310,492.60
A-R 66937NZ76 R 6.75000% 50.00 0.28 50.00
A-LR 66937NZ84 ALR 6.75000% 50.00 0.28 50.00
B-1 66937NZ92 SUB 6.75000% 9,758,000.00 54,888.75 7,495.18
B-2 66937N2A5 SUB 6.75000% 8,456,000.00 47,565.00 6,495.10
B-3 66937N2A3 SUB 6.75000% 3,253,000.00 18,298.12 2,498.65
B-4 66937N3S5 SUB 6.75000% 1,951,000.00 10,974.38 1,498.57
B-5 66937N3T3 SUB 6.75000% 976,000.00 5,490.00 749.67
B-6 66937N3U0 SUB 6.75000% 1,627,002.71 9,087.40 0.00
Totals 650,503,848.62 3,655,162.40 6,268,412.02
</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 0.00 685,052.29 693.62 0.00
A-1 0.00 130,044,081.45 2,054,818.55 0.00
A-2 0.00 107,474,011.65 1,172,925.85 0.00
A-3 0.00 90,373,000.00 478,223.79 0.00
A-4 0.00 2,000,000.00 10,583.33 0.00
A-5 0.00 149,657,044.91 1,576,724.67 0.00
A-6 0.00 18,891,291.24 1,689,236.09 0.00
A-7 0.00 4,897,742.17 442,115.86 0.00
A-8 0.00 90,412,500.00 200,913.29 0.00
A-9 0.00 20,079,939.95 1,797,336.66 0.00
A-10 0.00 3,718,507.40 334,861.33 0.00
A-R 0.00 0.00 50.28 0.00
A-LR 0.00 0.00 50.28 0.00
B-1 0.00 9,750,504.82 62,383.93 0.00
B-2 0.00 8,449,504.90 54,060.10 0.00
B-3 0.00 3,250,501.35 20,796.77 0.00
B-4 0.00 1,949,501.43 12,472.95 0.00
B-5 0.00 975,250.33 6,239.67 0.00
B-6 1,249.71 1,625,753.00 9,087.40 1,249.71
Totals 1,249.71 644,234,186.89 9,923,574.42 1,249.71
<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 685,745.91 685,745.91 611.50 82.12 0.00 0.00
A-1 131,360,000.00 131,360,000.00 100,898.39 1,215,020.16 0.00 0.00
A-2 108,084,000.00 108,084,000.00 46,771.01 563,217.34 0.00 0.00
A-3 90,373,000.00 90,373,000.00 0.00 0.00 0.00 0.00
A-4 2,000,000.00 2,000,000.00 0.00 0.00 0.00 0.00
A-5 150,419,000.00 150,419,000.00 58,423.10 703,531.99 0.00 0.00
A-6 20,468,700.00 20,468,700.00 120,948.22 1,456,460.55 0.00 0.00
A-7 5,306,700.00 5,306,700.00 31,356.95 377,600.88 0.00 0.00
A-8 90,000,000.00 90,000,000.00 0.00 0.00 (412,500.00) 0.00
A-9 21,756,600.00 21,756,600.00 128,558.34 1,548,101.71 0.00 0.00
A-10 4,029,000.00 4,029,000.00 23,807.10 286,685.50 0.00 0.00
A-R 50.00 50.00 3.83 46.17 0.00 0.00
A-LR 50.00 50.00 3.83 46.17 0.00 0.00
B-1 9,758,000.00 9,758,000.00 7,495.18 0.00 0.00 0.00
B-2 8,456,000.00 8,456,000.00 6,495.10 0.00 0.00 0.00
B-3 3,253,000.00 3,253,000.00 2,498.65 0.00 0.00 0.00
B-4 1,951,000.00 1,951,000.00 1,498.57 0.00 0.00 0.00
B-5 976,000.00 976,000.00 749.67 0.00 0.00 0.00
B-6 1,627,002.71 1,627,002.71 0.00 0.00 0.00 1,249.71
Totals 650,503,848.62 650,503,848.62 530,119.44 6,150,792.59 (412,500.00) 1,249.71
<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 693.62 685,052.29 0.99898852 693.62
A-1 1,315,918.55 130,044,081.45 0.98998235 1,315,918.55
A-2 609,988.35 107,474,011.65 0.99435635 609,988.35
A-3 0.00 90,373,000.00 1.00000000 0.00
A-4 0.00 2,000,000.00 1.00000000 0.00
A-5 761,955.09 149,657,044.91 0.99493445 761,955.09
A-6 1,577,408.76 18,891,291.24 0.92293557 1,577,408.76
A-7 408,957.83 4,897,742.17 0.92293557 408,957.83
A-8 (412,500.00) 90,412,500.00 1.00458333 (412,500.00)
A-9 1,676,660.05 20,079,939.95 0.92293557 1,676,660.05
A-10 310,492.60 3,718,507.40 0.92293557 310,492.60
A-R 50.00 0.00 0.00000000 50.00
A-LR 50.00 0.00 0.00000000 50.00
B-1 7,495.18 9,750,504.82 0.99923189 7,495.18
B-2 6,495.10 8,449,504.90 0.99923189 6,495.10
B-3 2,498.65 3,250,501.35 0.99923189 2,498.65
B-4 1,498.57 1,949,501.43 0.99923190 1,498.57
B-5 749.67 975,250.33 0.99923190 749.67
B-6 1,249.71 1,625,753.00 0.99923189 0.00
Totals 6,269,661.73 644,234,186.89 0.99036184 6,268,412.02
</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 685,745.91 1000.00000000 0.89172971 0.11975281 0.00000000
A-1 131,360,000.00 1000.00000000 0.76810589 9.24954446 0.00000000
A-2 108,084,000.00 1000.00000000 0.43272834 5.21092243 0.00000000
A-3 90,373,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-4 2,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-5 150,419,000.00 1000.00000000 0.38840240 4.67714843 0.00000000
A-6 20,468,700.00 1000.00000000 5.90893511 71.15549840 0.00000000
A-7 5,306,700.00 1000.00000000 5.90893587 71.15549777 0.00000000
A-8 90,000,000.00 1000.00000000 0.00000000 0.00000000 (4.58333333)
A-9 21,756,600.00 1000.00000000 5.90893522 71.15549810 0.00000000
A-10 4,029,000.00 1000.00000000 5.90893522 71.15549764 0.00000000
A-R 50.00 1000.00000000 76.60000000 923.40000000 0.00000000
A-LR 50.00 1000.00000000 76.60000000 923.40000000 0.00000000
B-1 9,758,000.00 1000.00000000 0.76810617 0.00000000 0.00000000
B-2 8,456,000.00 1000.00000000 0.76810549 0.00000000 0.00000000
B-3 3,253,000.00 1000.00000000 0.76810636 0.00000000 0.00000000
B-4 1,951,000.00 1000.00000000 0.76810354 0.00000000 0.00000000
B-5 976,000.00 1000.00000000 0.76810451 0.00000000 0.00000000
B-6 1,627,002.71 1000.00000000 0.00000000 0.00000000 0.00000000
<FN>
(2) All classes are per $1,000 Denomination, except AR and ALR which are per $100 Denominatio
</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 1.01148252 998.98851748 0.99898852 1.01148252
A-1 0.00000000 10.01765035 989.98234965 0.98998235 10.01765035
A-2 0.00000000 5.64365077 994.35634923 0.99435635 5.64365077
A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-5 0.00000000 5.06555083 994.93444917 0.99493445 5.06555083
A-6 0.00000000 77.06443301 922.93556699 0.92293557 77.06443301
A-7 0.00000000 77.06443364 922.93556636 0.92293557 77.06443364
A-8 0.00000000 (4.58333333) 1,004.58333333 1.00458333 (4.58333333)
A-9 0.00000000 77.06443332 922.93556668 0.92293557 77.06443332
A-10 0.00000000 77.06443286 922.93556714 0.92293557 77.06443286
A-R 0.00000000 1000.00000000 0.00000000 0.00000000 1000.00000000
A-LR 0.00000000 1000.00000000 0.00000000 0.00000000 1000.00000000
B-1 0.00000000 0.76810617 999.23189383 0.99923189 0.76810617
B-2 0.00000000 0.76810549 999.23189451 0.99923189 0.76810549
B-3 0.00000000 0.76810636 999.23189364 0.99923189 0.76810636
B-4 0.00000000 0.76810354 999.23189646 0.99923190 0.76810354
B-5 0.00000000 0.76810451 999.23189549 0.99923190 0.76810451
B-6 0.76810567 0.76810567 999.23189433 0.99923189 0.00000000
<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 685,745.91 0.00000% 685,745.91 0.00 0.00 0.00
A-1 131,360,000.00 6.75000% 131,360,000.00 738,900.00 0.00 0.00
A-2 108,084,000.00 6.25000% 108,084,000.00 562,937.50 0.00 0.00
A-3 90,373,000.00 6.35000% 90,373,000.00 478,223.79 0.00 0.00
A-4 2,000,000.00 6.35000% 2,000,000.00 10,583.33 0.00 0.00
A-5 150,419,000.00 6.50000% 150,419,000.00 814,769.58 0.00 0.00
A-6 20,468,700.00 6.55600% 20,468,700.00 111,827.33 0.00 0.00
A-7 5,306,700.00 7.49800% 5,306,700.00 33,158.03 0.00 0.00
A-8 90,000,000.00 1.66962% 440,876,000.00 613,413.29 0.00 0.00
A-9 21,756,600.00 6.65600% 21,756,600.00 120,676.61 0.00 0.00
A-10 4,029,000.00 7.25800% 4,029,000.00 24,368.74 0.00 0.00
A-R 50.00 6.75000% 50.00 0.28 0.00 0.00
A-LR 50.00 6.75000% 50.00 0.28 0.00 0.00
B-1 9,758,000.00 6.75000% 9,758,000.00 54,888.75 0.00 0.00
B-2 8,456,000.00 6.75000% 8,456,000.00 47,565.00 0.00 0.00
B-3 3,253,000.00 6.75000% 3,253,000.00 18,298.12 0.00 0.00
B-4 1,951,000.00 6.75000% 1,951,000.00 10,974.38 0.00 0.00
B-5 976,000.00 6.75000% 976,000.00 5,490.00 0.00 0.00
B-6 1,627,002.71 6.75000% 1,627,002.71 9,151.89 0.00 64.49
Totals 650,503,848.62 3,655,226.90 0.00 64.49
</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 0.00 685,052.29
A-1 0.00 0.00 738,900.00 0.00 130,044,081.45
A-2 0.00 0.00 562,937.50 0.00 107,474,011.65
A-3 0.00 0.00 478,223.79 0.00 90,373,000.00
A-4 0.00 0.00 10,583.33 0.00 2,000,000.00
A-5 0.00 0.00 814,769.58 0.00 149,657,044.91
A-6 0.00 0.00 111,827.33 0.00 18,891,291.24
A-7 0.00 0.00 33,158.03 0.00 4,897,742.17
A-8 0.00 0.00 613,413.29 0.00 439,916,556.56
A-9 0.00 0.00 120,676.61 0.00 20,079,939.95
A-10 0.00 0.00 24,368.73 0.00 3,718,507.40
A-R 0.00 0.00 0.28 0.00 0.00
A-LR 0.00 0.00 0.28 0.00 0.00
B-1 0.00 0.00 54,888.75 0.00 9,750,504.82
B-2 0.00 0.00 47,565.00 0.00 8,449,504.90
B-3 0.00 0.00 18,298.12 0.00 3,250,501.35
B-4 0.00 0.00 10,974.38 0.00 1,949,501.43
B-5 0.00 0.00 5,490.00 0.00 975,250.33
B-6 0.00 0.00 9,087.40 64.49 1,625,753.00
Totals 0.00 0.00 3,655,162.40 64.49
<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 685,745.91 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
A-1 131,360,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-2 108,084,000.00 6.25000% 1000.00000000 5.20833333 0.00000000 0.00000000
A-3 90,373,000.00 6.35000% 1000.00000000 5.29166665 0.00000000 0.00000000
A-4 2,000,000.00 6.35000% 1000.00000000 5.29166500 0.00000000 0.00000000
A-5 150,419,000.00 6.50000% 1000.00000000 5.41666664 0.00000000 0.00000000
A-6 20,468,700.00 6.55600% 1000.00000000 5.46333328 0.00000000 0.00000000
A-7 5,306,700.00 7.49800% 1000.00000000 6.24833324 0.00000000 0.00000000
A-8 90,000,000.00 1.66962% 4898.62222222 6.81570322 0.00000000 0.00000000
A-9 21,756,600.00 6.65600% 1000.00000000 5.54666676 0.00000000 0.00000000
A-10 4,029,000.00 7.25800% 1000.00000000 6.04833457 0.00000000 0.00000000
A-R 50.00 6.75000% 1000.00000000 5.60000000 0.00000000 0.00000000
A-LR 50.00 6.75000% 1000.00000000 5.60000000 0.00000000 0.00000000
B-1 9,758,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
B-2 8,456,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
B-3 3,253,000.00 6.75000% 1000.00000000 5.62499846 0.00000000 0.00000000
B-4 1,951,000.00 6.75000% 1000.00000000 5.62500256 0.00000000 0.00000000
B-5 976,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
B-6 1,627,002.71 6.75000% 1000.00000000 5.62499985 0.00000000 0.03963730
<FN>
(5) All classes are per $1,000 Denomination, except AR and ALR which are per $100 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 998.98851748
A-1 0.00000000 0.00000000 5.62500000 0.00000000 989.98234965
A-2 0.00000000 0.00000000 5.20833333 0.00000000 994.35634923
A-3 0.00000000 0.00000000 5.29166665 0.00000000 1000.00000000
A-4 0.00000000 0.00000000 5.29166500 0.00000000 1000.00000000
A-5 0.00000000 0.00000000 5.41666664 0.00000000 994.93444917
A-6 0.00000000 0.00000000 5.46333328 0.00000000 922.93556699
A-7 0.00000000 0.00000000 6.24833324 0.00000000 922.93556636
A-8 0.00000000 0.00000000 6.81570322 0.00000000 4887.96173956
A-9 0.00000000 0.00000000 5.54666676 0.00000000 922.93556668
A-10 0.00000000 0.00000000 6.04833209 0.00000000 922.93556714
A-R 0.00000000 0.00000000 5.60000000 0.00000000 0.00000000
A-LR 0.00000000 0.00000000 5.60000000 0.00000000 0.00000000
B-1 0.00000000 0.00000000 5.62500000 0.00000000 999.23189383
B-2 0.00000000 0.00000000 5.62500000 0.00000000 999.23189451
B-3 0.00000000 0.00000000 5.62499846 0.00000000 999.23189364
B-4 0.00000000 0.00000000 5.62500256 0.00000000 999.23189646
B-5 0.00000000 0.00000000 5.62500000 0.00000000 999.23189549
B-6 0.00000000 0.00000000 5.58536255 0.03963730 999.23189433
<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-8 COMP 0.50000% 108,084,000.00 107,474,011.65 0.00 0.00 99.43563492%
A-8 COMP 0.40000% 92,373,000.00 92,373,000.00 0.00 0.00 100.00000000%
A-8 COMP 0.25000% 150,419,000.00 149,657,044.91 0.00 0.00 99.49344492%
A-8 COMP 6.75000% 0.00 0.00 90,000,000.00 90,412,500.00 100.45833333%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 9,909,821.33
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 158,515.29
Realized Losses 0.00
Total Deposits 10,068,336.62
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 144,761.89
Payment of Interest and Principal 9,923,574.44
Total Withdrawals (Pool Distribution Amount) 10,068,336.33
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 719.27
Servicing Fee Support 719.27
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 136,269.17
Master Servicing Fee 9,212.27
Supported Prepayment/Curtailment Interest Shortfall 719.27
Net Servicing Fee 144,762.17
</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 2 451,548.33 0.100604% 0.070091%
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 2 451,548.33 0.100604% 0.070091%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 1,249.71
Cumulative Realized Losses - Includes Interest Shortfall 1,249.71
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 660,350.83
</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 26,021,002.71 4.00013048% 26,001,015.83 4.03595717% 95.959747% 100.000000%
Class B-1 16,263,002.71 2.50006249% 16,250,511.01 2.52245400% 1.515114% 0.000000%
Class B-2 7,807,002.71 1.20014704% 7,801,006.11 1.21089602% 1.312954% 0.000000%
Class B-3 4,554,002.71 0.70007314% 4,550,504.76 0.70634326% 0.505090% 0.000000%
Class B-4 2,603,002.71 0.40015178% 2,601,003.33 0.40373569% 0.302930% 0.000000%
Class B-5 1,627,002.71 0.25011423% 1,625,753.00 0.25235435% 0.151542% 0.000000%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.252623% 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 206,805.00 0.03179151% 206,805.00 0.03210090%
Fraud 13,010,077.00 2.00000000% 13,010,077.00 2.01946393%
Special Hazard 6,505,038.00 0.99999993% 6,505,038.00 1.00973189%
<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 7.447083%
Weighted Average Pass-Through Rate 6.750000%
Weighted Average Maturity(Stepdown Calculation ) 356
Begin Scheduled Collateral Loan Count 2,001
Number Of Loans Paid In Full 13
End Scheduled Collateral Loan Count 1,988
Beginning Scheduled Collateral Balance 650,503,848.62
Ending Scheduled Collateral Balance 644,234,186.89
Ending Actual Collateral Balance at 31-Jul-1998 646,271,936.53
Ending Scheduled Balance For Norwest 595,393,394.53
Ending Scheduled Balance For Other Services 48,840,792.69
Monthly P &I Constant 4,303,146.67
Class A Optimal Amount 9,757,840.00
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 593,412,639.03
Ending scheduled Balance For discounted Loans 50,821,547.86
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 545,432,725.26
Greater Than 80%, less than or equal to 85% 15,072,850.52
Greater than 85%, less than or equal to 95% 78,463,454.74
Greater than 95% 5,322,934.22
</TABLE>