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): September 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.
11000 Broken Land Parkway 21044
Columbia, Maryland (Zip Code)
(Address of principal executive offices)
Registrant's telephone number, including area code: (410) 884-2000
c/o Norwest Bank Minnesota, N.A.
7485 New Horizon Way 21703
Frederick, Maryland (Zip Code)
(Former name or former address, if changed since last report)
ITEM 5. Other Events
On September 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-Throu
Certificates, Series 1998-17 Trust, relating to the September
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: 09/29/1998
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 September
25, 1998 distribution.
<TABLE>
<CAPTION>
Norwest Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 08/31/1998
Distribution Date: 09/25/1998
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% 685,052.29 0.00 684.16
A-1 66937NY85 PAC 6.75000% 130,044,081.45 731,497.96 1,212,598.13
A-2 66937NY93 PAC 6.25000% 107,474,011.65 559,760.48 697,650.80
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% 149,657,044.91 810,642.33 892,799.62
A-6 66937NZ50 SEQ 6.55625% 18,891,291.24 103,213.36 1,337,696.27
A-7 66937NZ68 SEQ 7.49732% 4,897,742.17 30,599.96 346,810.14
A-8 66937N2C1 SCH 1.67847% 90,412,500.00 615,320.70 -414,390.62
A-9 66937N2D9 SEQ 6.65625% 20,079,939.95 111,380.92 1,421,864.73
A-10 66937N2E7 SEQ 7.25625% 3,718,507.40 22,485.35 263,308.28
A-R 66937NZ76 R 6.75000% 0.00 0.00 0.00
A-LR 66937NZ84 ALR 6.75000% 0.00 0.00 0.00
B-1 66937NZ92 SUB 6.75000% 9,750,504.82 54,846.59 7,575.94
B-2 66937N2A5 SUB 6.75000% 8,449,504.90 47,528.47 6,565.09
B-3 66937N2A3 SUB 6.75000% 3,250,501.35 18,284.07 2,525.57
B-4 66937N3S5 SUB 6.75000% 1,949,501.43 10,965.95 1,514.72
B-5 66937N3T3 SUB 6.75000% 975,250.33 5,485.78 757.75
B-6 66937N3U0 SUB 6.75000% 1,625,753.00 9,209.35 434.53
Totals 644,234,186.89 3,620,028.39 5,778,395.11
</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 0.00 684,368.13 684.16 0.00
A-1 0.00 128,831,483.32 1,944,096.09 0.00
A-2 0.00 106,776,360.85 1,257,411.28 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 0.00 148,764,245.29 1,703,441.95 0.00
A-6 0.00 17,553,594.97 1,440,909.63 0.00
A-7 0.00 4,550,932.03 377,410.10 0.00
A-8 0.00 90,826,890.62 200,930.08 0.00
A-9 0.00 18,658,075.22 1,533,245.65 0.00
A-10 0.00 3,455,199.11 285,793.63 0.00
A-R 0.00 0.00 0.00 0.00
A-LR 0.00 0.00 0.00 0.00
B-1 0.00 9,742,928.89 62,422.53 0.00
B-2 0.00 8,442,939.81 54,093.56 0.00
B-3 0.00 3,247,975.78 20,809.64 0.00
B-4 0.00 1,947,986.70 12,480.67 0.00
B-5 0.00 974,492.58 6,243.53 0.00
B-6 828.64 1,624,489.82 9,643.88 2,078.35
Totals 828.64 638,454,963.12 9,398,423.50 2,078.35
<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 685,745.91 685,052.29 615.30 68.86 0.00 0.00
A-1 131,360,000.00 130,044,081.45 101,041.52 1,111,556.61 0.00 0.00
A-2 108,084,000.00 107,474,011.65 58,132.78 639,518.02 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-5 150,419,000.00 149,657,044.91 74,393.84 818,405.78 0.00 0.00
A-6 20,468,700.00 18,891,291.24 111,465.51 1,226,230.76 0.00 0.00
A-7 5,306,700.00 4,897,742.17 28,898.47 317,911.68 0.00 0.00
A-8 90,000,000.00 90,412,500.00 0.00 0.00 -414,390.62 0.00
A-9 21,756,600.00 20,079,939.95 118,478.97 1,303,385.76 0.00 0.00
A-10 4,029,000.00 3,718,507.40 21,940.55 241,367.73 0.00 0.00
A-R 50.00 0.00 0.00 0.00 0.00 0.00
A-LR 50.00 0.00 0.00 0.00 0.00 0.00
B-1 9,758,000.00 9,750,504.82 7,575.94 0.00 0.00 0.00
B-2 8,456,000.00 8,449,504.90 6,565.09 0.00 0.00 0.00
B-3 3,253,000.00 3,250,501.35 2,525.57 0.00 0.00 0.00
B-4 1,951,000.00 1,949,501.43 1,514.72 0.00 0.00 0.00
B-5 976,000.00 975,250.33 757.75 0.00 0.00 0.00
B-6 1,627,002.71 1,625,753.00 434.53 0.00 0.00 828.64
Totals 650,503,848.62 644,234,186.89 534,340.54 5,658,445.20 (414,390.62) 828.64
<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 684.16 684,368.13 0.99799083 684.16
A-1 1,212,598.13 128,831,483.32 0.98075124 1,212,598.13
A-2 697,650.80 106,776,360.85 0.98790164 697,650.80
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-5 892,799.62 148,764,245.29 0.98899903 892,799.62
A-6 1,337,696.27 17,553,594.97 0.85758231 1,337,696.27
A-7 346,810.14 4,550,932.03 0.85758231 346,810.14
A-8 (414,390.62) 90,826,890.62 1.00918767 (414,390.62)
A-9 1,421,864.73 18,658,075.22 0.85758231 1,421,864.73
A-10 263,308.28 3,455,199.11 0.85758231 263,308.28
A-R 0.00 0.00 0.00000000 0.00
A-LR 0.00 0.00 0.00000000 0.00
B-1 7,575.94 9,742,928.89 0.99845551 7,575.94
B-2 6,565.09 8,442,939.81 0.99845551 6,565.09
B-3 2,525.57 3,247,975.78 0.99845551 2,525.57
B-4 1,514.72 1,947,986.70 0.99845551 1,514.72
B-5 757.75 974,492.58 0.99845551 757.75
B-6 1,263.17 1,624,489.82 0.99845551 434.53
Totals 5,779,223.75 638,454,963.12 0.98147761 5,778,395.11
</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 685,745.91 998.98851748 0.89727112 0.10041620 0.00000000
A-1 131,360,000.00 989.98234965 0.76919549 8.46191086 0.00000000
A-2 108,084,000.00 994.35634923 0.53784816 5.91686115 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-5 150,419,000.00 994.93444917 0.49457741 5.44084045 0.00000000
A-6 20,468,700.00 922.93556699 5.44565654 59.90760332 0.00000000
A-7 5,306,700.00 922.93556636 5.44565738 59.90760360 0.00000000
A-8 90,000,000.00 1004.58333333 0.00000000 0.00000000 -4.60434022
A-9 21,756,600.00 922.93556668 5.44565649 59.90760321 0.00000000
A-10 4,029,000.00 922.93556714 5.44565649 59.90760238 0.00000000
A-R 50.00 0.00000000 0.00000000 0.00000000 0.00000000
A-LR 50.00 0.00000000 0.00000000 0.00000000 0.00000000
B-1 9,758,000.00 999.23189383 0.77638246 0.00000000 0.00000000
B-2 8,456,000.00 999.23189451 0.77638245 0.00000000 0.00000000
B-3 3,253,000.00 999.23189364 0.77638180 0.00000000 0.00000000
B-4 1,951,000.00 999.23189646 0.77638134 0.00000000 0.00000000
B-5 976,000.00 999.23189549 0.77638320 0.00000000 0.00000000
B-6 1,627,002.71 999.23189433 0.26707393 0.00000000 0.00000000
<FN>
(2) All classes are per $1,000 Denomination, except AR and ALR which are per $100 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 0.99768732 997.99083016 0.99799083 0.99768732
A-1 0.00000000 9.23110635 980.75124330 0.98075124 9.23110635
A-2 0.00000000 6.45470930 987.90163993 0.98790164 6.45470930
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 5.93541787 988.99903131 0.98899903 5.93541787
A-6 0.00000000 65.35325986 857.58230713 0.85758231 65.35325986
A-7 0.00000000 65.35325909 857.58230727 0.85758231 65.35325909
A-8 0.00000000 -4.60434022 1,009.18767356 1.00918767 -4.60434022
A-9 0.00000000 65.35325970 857.58230698 0.85758231 65.35325970
A-10 0.00000000 65.35325887 857.58230578 0.85758231 65.35325887
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-LR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 0.77638246 998.45551240 0.99845551 0.77638246
B-2 0.00000000 0.77638245 998.45551206 0.99845551 0.77638245
B-3 0.00000000 0.77638180 998.45551184 0.99845551 0.77638180
B-4 0.00000000 0.77638134 998.45550999 0.99845551 0.77638134
B-5 0.00000000 0.77638320 998.45551230 0.99845551 0.77638320
B-6 0.50930462 0.77637855 998.45550964 0.99845551 0.26707393
<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% 685,052.29 0.00 0.00 0.00
A-1 131,360,000.00 6.75000% 130,044,081.45 731,497.96 0.00 0.00
A-2 108,084,000.00 6.25000% 107,474,011.65 559,760.48 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% 149,657,044.91 810,642.33 0.00 0.00
A-6 20,468,700.00 6.55625% 18,891,291.24 103,213.36 0.00 0.00
A-7 5,306,700.00 7.49732% 4,897,742.17 30,599.96 0.00 0.00
A-8 90,000,000.00 1.67847% 439,916,556.56 615,320.70 0.00 0.00
A-9 21,756,600.00 6.65625% 20,079,939.95 111,380.92 0.00 0.00
A-10 4,029,000.00 7.25625% 3,718,507.40 22,485.35 0.00 0.00
A-R 50.00 6.75000% 0.00 0.00 0.00 0.00
A-LR 50.00 6.75000% 0.00 0.00 0.00 0.00
B-1 9,758,000.00 6.75000% 9,750,504.82 54,846.59 0.00 0.00
B-2 8,456,000.00 6.75000% 8,449,504.90 47,528.47 0.00 0.00
B-3 3,253,000.00 6.75000% 3,250,501.35 18,284.07 0.00 0.00
B-4 1,951,000.00 6.75000% 1,949,501.43 10,965.95 0.00 0.00
B-5 976,000.00 6.75000% 975,250.33 5,485.78 0.00 0.00
B-6 1,627,002.71 6.75000% 1,625,753.00 9,144.86 64.49 0.00
Totals 650,503,848.62 3,619,963.90 64.49 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 0.00 684,368.13
A-1 0.00 0.00 731,497.96 0.00 128,831,483.32
A-2 0.00 0.00 559,760.48 0.00 106,776,360.85
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 0.00 810,642.33 0.00 148,764,245.29
A-6 0.00 0.00 103,213.36 0.00 17,553,594.97
A-7 0.00 0.00 30,599.96 0.00 4,550,932.03
A-8 0.00 0.00 615,320.70 0.00 438,740,496.76
A-9 0.00 0.00 111,380.92 0.00 18,658,075.22
A-10 0.00 0.00 22,485.35 0.00 3,455,199.11
A-R 0.00 0.00 0.00 0.00 0.00
A-LR 0.00 0.00 0.00 0.00 0.00
B-1 0.00 0.00 54,846.59 0.00 9,742,928.89
B-2 0.00 0.00 47,528.47 0.00 8,442,939.81
B-3 0.00 0.00 18,284.07 0.00 3,247,975.78
B-4 0.00 0.00 10,965.95 0.00 1,947,986.70
B-5 0.00 0.00 5,485.78 0.00 974,492.58
B-6 0.00 0.00 9,209.35 0.00 1,624,489.82
Totals 0.00 0.00 3,620,028.39 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 685,745.91 0.00000% 998.98851748 0.00000000 0.00000000 0.00000000
A-1 131,360,000.00 6.75000% 989.98234965 5.56865073 0.00000000 0.00000000
A-2 108,084,000.00 6.25000% 994.35634923 5.17893934 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% 994.93444917 5.38922829 0.00000000 0.00000000
A-6 20,468,700.00 6.55625% 922.93556699 5.04249708 0.00000000 0.00000000
A-7 5,306,700.00 7.49732% 922.93556636 5.76628790 0.00000000 0.00000000
A-8 90,000,000.00 1.67847% 4887.96173956 6.83689667 0.00000000 0.00000000
A-9 21,756,600.00 6.65625% 922.93556668 5.11940836 0.00000000 0.00000000
A-10 4,029,000.00 7.25625% 922.93556714 5.58087615 0.00000000 0.00000000
A-R 50.00 6.75000% 0.00000000 0.00000000 0.00000000 0.00000000
A-LR 50.00 6.75000% 0.00000000 0.00000000 0.00000000 0.00000000
B-1 9,758,000.00 6.75000% 999.23189383 5.62067944 0.00000000 0.00000000
B-2 8,456,000.00 6.75000% 999.23189451 5.62067999 0.00000000 0.00000000
B-3 3,253,000.00 6.75000% 999.23189364 5.62067937 0.00000000 0.00000000
B-4 1,951,000.00 6.75000% 999.23189646 5.62068170 0.00000000 0.00000000
B-5 976,000.00 6.75000% 999.23189549 5.62067623 0.00000000 0.00000000
B-6 1,627,002.71 6.75000% 999.23189433 5.62067902 0.03963730 0.00000000
<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 997.99083016
A-1 0.00000000 0.00000000 5.56865073 0.00000000 980.75124330
A-2 0.00000000 0.00000000 5.17893934 0.00000000 987.90163993
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 5.38922829 0.00000000 988.99903131
A-6 0.00000000 0.00000000 5.04249708 0.00000000 857.58230713
A-7 0.00000000 0.00000000 5.76628790 0.00000000 857.58230727
A-8 0.00000000 0.00000000 6.83689667 0.00000000 4874.89440844
A-9 0.00000000 0.00000000 5.11940836 0.00000000 857.58230698
A-10 0.00000000 0.00000000 5.58087615 0.00000000 857.58230578
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A-LR 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 0.00000000 5.62067944 0.00000000 998.45551240
B-2 0.00000000 0.00000000 5.62067999 0.00000000 998.45551206
B-3 0.00000000 0.00000000 5.62067937 0.00000000 998.45551184
B-4 0.00000000 0.00000000 5.62068170 0.00000000 998.45550999
B-5 0.00000000 0.00000000 5.62067623 0.00000000 998.45551230
B-6 0.00000000 0.00000000 5.66031632 0.00000000 998.45550964
<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% 107,474,011.65 106,776,360.85 0.00 0.00 98.79016399%
A-8 COMP 0.40000% 92,373,000.00 92,373,000.00 0.00 0.00 100.00000000%
A-8 COMP 0.25000% 149,657,044.91 148,764,245.29 0.00 0.00 98.89990313%
A-8 COMP 6.75000% 0.00 0.00 90,412,500.00 90,826,890.62 100.91876736%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 9,777,072.85
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 9,777,072.85
Withdrawals
Reimbursement for Servicer Advances 158,515.29
Payment of Service Fee 141,041.16
Payment of Interest and Principal 9,398,423.49
Total Withdrawals (Pool Distribution Amount) 9,697,979.94
Ending Balance 79,092.75
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 3,064.79
Servicing Fee Support 3,064.79
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 134,981.33
Master Servicing Fee 9,124.78
Supported Prepayment/Curtailment Interest Shortfall 3,064.79
Net Servicing Fee 141,041.32
</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 2 538,504.50 0.101163% 0.084345%
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 2 538,504.50 0.101163% 0.084345%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 828.64
Cumulative Realized Losses - Includes Interest Shortfall 2,078.35
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 474,713.39
</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% 25,980,813.58 4.06932596% 95.926307% 100.000000%
Class B-1 16,263,002.71 2.50006249% 16,237,884.69 2.54330934% 1.527654% 0.000000%
Class B-2 7,807,002.71 1.20014704% 7,794,944.88 1.22090755% 1.323821% 0.000000%
Class B-3 4,554,002.71 0.70007314% 4,546,969.10 0.71218322% 0.509270% 0.000000%
Class B-4 2,603,002.71 0.40015178% 2,598,982.40 0.40707372% 0.305437% 0.000000%
Class B-5 1,627,002.71 0.25011423% 1,624,489.82 0.25444078% 0.152797% 0.000000%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.254714% 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 0.03239148%
Fraud 13,010,077.00 2.00000000% 13,010,077.00 2.03774389%
Special Hazard 6,505,038.00 0.99999993% 6,505,038.00 1.01887187%
<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 7.444872%
Weighted Average Pass-Through Rate 6.750000%
Weighted Average Maturity(Stepdown Calculation ) 355
Begin Scheduled Collateral Loan Count 1,988
Number Of Loans Paid In Full 11
End Scheduled Collateral Loan Count 1,977
Begining Scheduled Collateral Balance 644,234,186.89
Ending Scheduled Collateral Balance 638,454,963.13
Ending Actual Collateral Balance at 31-Aug-1998 640,469,258.66
Ending Scheduled Balance For Norwest 589,897,034.53
Ending Scheduled Balance For Other Services 48,557,928.60
Monthly P &I Constant 4,267,854.59
Class A Optimal Amount 9,232,045.54
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 587,685,079.67
Ending scheduled Balance For discounted Loans 50,769,883.46
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 539,716,477.61
Greater Than 80%, less than or equal to 85% 15,058,456.00
Greater than 85%, less than or equal to 95% 78,394,079.84
Greater than 95% 5,318,760.88
</TABLE>
