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 1998-17 Trust
New York (governing law of 333-45021-17 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
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 1998-17
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
1998-17 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 1998-17 Trust
By: Norwest Bank Minnesota, N.A., as Master Servicer
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 01/07/1999
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 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: 1998-17
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% 682,986.88 0.00 761.12
A-1 66937NY85 PAC 6.75000% 123,784,271.43 696,286.53 1,543,632.75
A-2 66937NY93 PAC 6.25000% 105,119,278.93 547,496.24 958,889.26
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% 146,587,469.95 794,015.46 1,282,770.78
A-6 66937NZ50 SEQ 6.11938% 11,233,106.80 57,283.04 1,574,091.57
A-7 66937NZ68 SEQ 9.18239% 2,912,286.95 22,284.80 408,097.81
A-8 66937N2C1 SCH 1.70943% 91,661,378.45 620,725.01 -420,114.65
A-9 66937N2D9 SEQ 6.21938% 11,939,899.04 61,882.31 1,673,134.13
A-10 66937N2E7 SEQ 9.61535% 2,211,092.41 17,717.02 309,839.65
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% 9,727,677.28 54,718.18 7,794.90
B-2 66937N2A5 SUB 6.75000% 8,429,723.21 47,417.19 6,754.84
B-3 66937N2A3 SUB 6.75000% 3,242,891.39 18,241.26 2,598.57
B-4 66937N3S5 SUB 6.75000% 1,944,937.32 10,940.27 1,558.50
B-5 66937N3T3 SUB 6.75000% 972,967.11 5,472.94 779.65
B-6 66937N3U0 SUB 6.75000% 1,621,946.84 9,123.45 1,131.22
Totals 614,444,913.99 3,452,410.82 7,351,720.10
</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 0.00 682,225.76 761.12 0.00
A-1 0.00 122,240,638.67 2,239,919.28 0.00
A-2 0.00 104,160,389.66 1,506,385.50 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 0.00 145,304,699.17 2,076,786.24 0.00
A-6 0.00 9,659,015.23 1,631,374.61 0.00
A-7 0.00 2,504,189.13 430,382.61 0.00
A-8 0.00 92,081,493.10 200,610.36 0.00
A-9 0.00 10,266,764.91 1,735,016.44 0.00
A-10 0.00 1,901,252.76 327,556.67 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 9,719,882.37 62,513.08 0.00
B-2 0.00 8,422,968.37 54,172.03 0.00
B-3 0.00 3,240,292.82 20,839.83 0.00
B-4 0.00 1,943,378.82 12,498.77 0.00
B-5 0.00 972,187.46 6,252.59 0.00
B-6 168.46 1,620,647.16 10,254.67 2,396.12
Totals 168.46 607,093,025.39 10,804,130.92 2,396.12
<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 685,745.91 682,986.88 627.00 134.11 0.00 0.00
A-1 131,360,000.00 123,784,271.43 99,189.81 1,444,442.94 0.00 0.00
A-2 108,084,000.00 105,119,278.93 61,615.72 897,273.54 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-5 150,419,000.00 146,587,469.95 82,427.50 1,200,343.28 0.00 0.00
A-6 20,468,700.00 11,233,106.80 101,147.02 1,472,944.55 0.00 0.00
A-7 5,306,700.00 2,912,286.95 26,223.30 381,874.51 0.00 0.00
A-8 90,000,000.00 91,661,378.45 0.00 0.00 -420,114.65 0.00
A-9 21,756,600.00 11,939,899.04 107,511.23 1,565,622.90 0.00 0.00
A-10 4,029,000.00 2,211,092.41 19,909.49 289,930.17 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 9,727,677.28 7,794.90 0.00 0.00 0.00
B-2 8,456,000.00 8,429,723.21 6,754.84 0.00 0.00 0.00
B-3 3,253,000.00 3,242,891.39 2,598.57 0.00 0.00 0.00
B-4 1,951,000.00 1,944,937.32 1,558.50 0.00 0.00 0.00
B-5 976,000.00 972,967.11 779.65 0.00 0.00 0.00
B-6 1,627,002.71 1,621,946.84 1,131.22 0.00 0.00 168.46
Totals 650,503,848.62 614,444,913.99 519,268.75 7,252,566.00 (420,114.65) 168.46
<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 761.12 682,225.76 0.99486668 761.12
A-1 1,543,632.75 122,240,638.67 0.93057733 1,543,632.75
A-2 958,889.26 104,160,389.66 0.96369851 958,889.26
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 1,282,770.78 145,304,699.17 0.96599964 1,282,770.78
A-6 1,574,091.57 9,659,015.23 0.47189197 1,574,091.57
A-7 408,097.81 2,504,189.13 0.47189197 408,097.81
A-8 (420,114.65) 92,081,493.10 1.02312770 (420,114.65)
A-9 1,673,134.13 10,266,764.91 0.47189197 1,673,134.13
A-10 309,839.65 1,901,252.76 0.47189197 309,839.65
A-R 0.00 0.00 0.00000000 0.00
A-LR 0.00 0.00 0.00000000 0.00
B-1 7,794.90 9,719,882.37 0.99609370 7,794.90
B-2 6,754.84 8,422,968.37 0.99609371 6,754.84
B-3 2,598.57 3,240,292.82 0.99609370 2,598.57
B-4 1,558.50 1,943,378.82 0.99609371 1,558.50
B-5 779.65 972,187.46 0.99609371 779.65
B-6 1,299.68 1,620,647.16 0.99609371 1,131.22
Totals 7,351,888.56 607,093,025.39 0.93326585 7,351,720.10
</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 685,745.91 995.97660014 0.91433283 0.19556806 0.00000000
A-1 131,360,000.00 942.32849749 0.75509904 10.99606379 0.00000000
A-2 108,084,000.00 972.57021326 0.57007254 8.30163151 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-5 150,419,000.00 974.52761918 0.54798596 7.97999774 0.00000000
A-6 20,468,700.00 548.79434454 4.94154587 71.96082555 0.00000000
A-7 5,306,700.00 548.79434488 4.94154559 71.96082499 0.00000000
A-8 90,000,000.00 1018.45976056 0.00000000 0.00000000 -4.66794056
A-9 21,756,600.00 548.79434470 4.94154555 71.96082568 0.00000000
A-10 4,029,000.00 548.79434351 4.94154629 71.96082651 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 9,758,000.00 996.89252716 0.79882148 0.00000000 0.00000000
B-2 8,456,000.00 996.89252720 0.79882214 0.00000000 0.00000000
B-3 3,253,000.00 996.89252690 0.79882263 0.00000000 0.00000000
B-4 1,951,000.00 996.89252691 0.79882112 0.00000000 0.00000000
B-5 976,000.00 996.89253074 0.79882172 0.00000000 0.00000000
B-6 1,627,002.71 996.89252515 0.69527850 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 1.10991548 994.86668466 0.99486668 1.10991548
A-1 0.00000000 11.75116283 930.57733458 0.93057733 11.75116283
A-2 0.00000000 8.87170405 963.69850912 0.96369851 8.87170405
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 8.52798370 965.99963548 0.96599964 8.52798370
A-6 0.00000000 76.90237143 471.89197311 0.47189197 76.90237143
A-7 0.00000000 76.90237059 471.89197241 0.47189197 76.90237059
A-8 0.00000000 -4.66794056 1,023.12770111 1.02312770 -4.66794056
A-9 0.00000000 76.90237123 471.89197347 0.47189197 76.90237123
A-10 0.00000000 76.90237032 471.89197319 0.47189197 76.90237032
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 0.79882148 996.09370465 0.99609370 0.79882148
B-2 0.00000000 0.79882214 996.09370506 0.99609371 0.79882214
B-3 0.00000000 0.79882263 996.09370427 0.99609370 0.79882263
B-4 0.00000000 0.79882112 996.09370579 0.99609371 0.79882112
B-5 0.00000000 0.79882172 996.09370902 0.99609371 0.79882172
B-6 0.10354009 0.79881858 996.09370657 0.99609371 0.69527850
<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% 682,986.88 0.00 0.00 0.00
A-1 131,360,000.00 6.75000% 123,784,271.43 696,286.53 0.00 0.00
A-2 108,084,000.00 6.25000% 105,119,278.93 547,496.24 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% 146,587,469.95 794,015.46 0.00 0.00
A-6 20,468,700.00 6.11938% 11,233,106.80 57,283.04 0.00 0.00
A-7 5,306,700.00 9.18239% 2,912,286.95 22,284.80 0.00 0.00
A-8 90,000,000.00 1.70943% 435,741,127.33 620,725.01 0.00 0.00
A-9 21,756,600.00 6.21938% 11,939,899.04 61,882.31 0.00 0.00
A-10 4,029,000.00 9.61535% 2,211,092.41 17,717.02 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% 9,727,677.28 54,718.18 0.00 0.00
B-2 8,456,000.00 6.75000% 8,429,723.21 47,417.19 0.00 0.00
B-3 3,253,000.00 6.75000% 3,242,891.39 18,241.26 0.00 0.00
B-4 1,951,000.00 6.75000% 1,944,937.32 10,940.27 0.00 0.00
B-5 976,000.00 6.75000% 972,967.11 5,472.94 0.00 0.00
B-6 1,627,002.71 6.75000% 1,621,946.84 9,123.45 0.00 0.00
Totals 650,503,848.62 3,452,410.82 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 0.00 682,225.76
A-1 0.00 0.00 696,286.53 0.00 122,240,638.67
A-2 0.00 0.00 547,496.24 0.00 104,160,389.66
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 0.00 794,015.46 0.00 145,304,699.17
A-6 0.00 0.00 57,283.04 0.00 9,659,015.23
A-7 0.00 0.00 22,284.80 0.00 2,504,189.13
A-8 0.00 0.00 620,725.01 0.00 433,919,581.94
A-9 0.00 0.00 61,882.31 0.00 10,266,764.91
A-10 0.00 0.00 17,717.02 0.00 1,901,252.76
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 54,718.18 0.00 9,719,882.37
B-2 0.00 0.00 47,417.19 0.00 8,422,968.37
B-3 0.00 0.00 18,241.26 0.00 3,240,292.82
B-4 0.00 0.00 10,940.27 0.00 1,943,378.82
B-5 0.00 0.00 5,472.94 0.00 972,187.46
B-6 0.00 0.00 9,123.45 0.00 1,620,647.16
Totals 0.00 0.00 3,452,410.82 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% 995.97660014 0.00000000 0.00000000 0.00000000
A-1 131,360,000.00 6.75000% 942.32849749 5.30059782 0.00000000 0.00000000
A-2 108,084,000.00 6.25000% 972.57021326 5.06546982 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% 974.52761918 5.27869126 0.00000000 0.00000000
A-6 20,468,700.00 6.11938% 548.79434454 2.79856757 0.00000000 0.00000000
A-7 5,306,700.00 9.18239% 548.79434488 4.19937061 0.00000000 0.00000000
A-8 90,000,000.00 1.70943% 4841.56808144 6.89694456 0.00000000 0.00000000
A-9 21,756,600.00 6.21938% 548.79434470 2.84430058 0.00000000 0.00000000
A-10 4,029,000.00 9.61535% 548.79434351 4.39737404 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% 996.89252716 5.60751998 0.00000000 0.00000000
B-2 8,456,000.00 6.75000% 996.89252720 5.60752010 0.00000000 0.00000000
B-3 3,253,000.00 6.75000% 996.89252690 5.60751921 0.00000000 0.00000000
B-4 1,951,000.00 6.75000% 996.89252691 5.60751922 0.00000000 0.00000000
B-5 976,000.00 6.75000% 996.89253074 5.60752049 0.00000000 0.00000000
B-6 1,627,002.71 6.75000% 996.89252515 5.60751985 0.00000000 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 994.86668466
A-1 0.00000000 0.00000000 5.30059782 0.00000000 930.57733458
A-2 0.00000000 0.00000000 5.06546982 0.00000000 963.69850912
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 5.27869126 0.00000000 965.99963548
A-6 0.00000000 0.00000000 2.79856757 0.00000000 471.89197311
A-7 0.00000000 0.00000000 4.19937061 0.00000000 471.89197241
A-8 0.00000000 0.00000000 6.89694456 0.00000000 4821.32868822
A-9 0.00000000 0.00000000 2.84430058 0.00000000 471.89197347
A-10 0.00000000 0.00000000 4.39737404 0.00000000 471.89197319
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 5.60751998 0.00000000 996.09370465
B-2 0.00000000 0.00000000 5.60752010 0.00000000 996.09370506
B-3 0.00000000 0.00000000 5.60751921 0.00000000 996.09370427
B-4 0.00000000 0.00000000 5.60751922 0.00000000 996.09370579
B-5 0.00000000 0.00000000 5.60752049 0.00000000 996.09370902
B-6 0.00000000 0.00000000 5.60751985 0.00000000 996.09370657
<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-8 COMP 0.50000% 105,119,278.93 104,160,389.66 0.00 0.00 96.36985091%
A-8 COMP 0.40000% 92,373,000.00 92,373,000.00 0.00 0.00 100.00000000%
A-8 COMP 0.25000% 146,587,469.95 145,304,699.17 0.00 0.00 96.59996355%
A-8 COMP 6.75000% 0.00 0.00 91,661,378.45 92,081,493.10 102.31277011%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 11,025,583.94
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 11,025,583.94
Withdrawals
Reimbursement for Servicer Advances 86,770.58
Payment of Service Fee 133,263.39
Payment of Interest and Principal 10,804,130.96
Total Withdrawals (Pool Distribution Amount) 11,024,164.93
Ending Balance 1,418.99
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 4,205.45
Servicing Fee Support 4,205.45
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 128,764.55
Master Servicing Fee 8,704.32
Supported Prepayment/Curtailment Interest Shortfall 4,205.45
Net Servicing Fee 133,263.42
</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 1 284,812.78 0.052798% 0.046914%
60 Days 0 0.00 0.000000% 0.000000%
90+ Days 0 0.00 0.000000% 0.000000%
Foreclosure 1 298,997.78 0.052798% 0.049251%
REO 0 0.00 0.000000% 0.000000%
Totals 2 583,810.56 0.105597% 0.096165%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 168.46
Cumulative Realized Losses - Includes Interest Shortfall 2,396.12
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 509,849.82
</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% 25,919,357.00 4.26942098% 95.725776% 100.000000%
Class B-1 16,263,002.71 2.50006249% 16,199,474.63 2.66836777% 1.602854% 0.000000%
Class B-2 7,807,002.71 1.20014704% 7,776,506.26 1.28094146% 1.388987% 0.000000%
Class B-3 4,554,002.71 0.70007314% 4,536,213.44 0.74720236% 0.534340% 0.000000%
Class B-4 2,603,002.71 0.40015178% 2,592,834.62 0.42709017% 0.320472% 0.000000%
Class B-5 1,627,002.71 0.25011423% 1,620,647.16 0.26695203% 0.160318% 0.000000%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.267252% 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 0.03406480%
Fraud 13,010,077.00 2.00000000% 13,010,077.00 2.14301210%
Special Hazard 6,505,038.00 0.99999993% 6,505,038.00 1.07150597%
<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 7.436137%
Weighted Average Pass-Through Rate 6.750000%
Weighted Average Maturity(Stepdown Calculation ) 352
Begin Scheduled Collateral Loan Count 1,914
Number Of Loans Paid In Full 20
End Scheduled Collateral Loan Count 1,894
Begining Scheduled Collateral Balance 614,444,913.98
Ending Scheduled Collateral Balance 607,093,025.40
Ending Actual Collateral Balance at 30-Nov-1998 610,769,956.97
Ending Scheduled Balance For Norwest 561,366,500.71
Ending Scheduled Balance For Other Services 45,726,524.69
Monthly P &I Constant 4,087,328.25
Class A Optimal Amount 10,636,838.84
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 556,490,685.85
Ending scheduled Balance For discounted Loans 50,602,339.55
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 512,691,749.35
Greater Than 80%, less than or equal to 85% 14,747,025.67
Greater than 85%, less than or equal to 95% 74,389,879.02
Greater than 95% 5,307,067.58
</TABLE>
