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): October 26, 1998
NORWEST ASSET SECURITIES CORPORATION
Mortgage Pass-Through Certificates, Series 1998-23 Trust
New York (governing law of 333-45021-23 PENDING
Pooling and Servicing Agreement) (Commission IRS EIN
(State or other File Number)
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 October 26, 1998 a distribution was made to holders of NORWEST ASSET
SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 1998-23
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 1998-23 Trust, relating to the October
26, 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 1998-23 Trust
By: Norwest Bank Minnesota, N.A., as Master Servicer
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 11/05/1998
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1998-23 Trust, relating to the October 26,
1998 distribution.
<TABLE>
<CAPTION>
Norwest Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 09/30/1998
Distribution Date: 10/26/1998
NASCOR Series: 1998-23
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>
A-1 66937RAA7 SEQ 6.75000% 82,527,000.00 464,214.38 2,563,031.88
A-2 66937RAB5 SEQ 6.75000% 15,977,000.00 89,870.62 464,309.35
A-3 66937RAC3 SEQ 6.75000% 75,000,000.00 421,875.00 1,743,489.62
A-4 66937RAD1 SEQ 6.75000% 402,276,000.00 2,262,802.50 7,871,826.87
A-5 66937RAE9 SEQ 6.75000% 10,000,000.00 56,250.00 0.00
A-6 66937RAF8 SEQ 6.75000% 5,000,000.00 28,125.00 0.00
A-7 66937RAG4 SEQ 6.75000% 39,963,000.00 224,791.88 0.00
A-8 66937RAH2 SEQ 6.75000% 5,338,000.00 30,026.25 0.00
A-9 66937RAJ8 SEQ 6.50000% 5,000,000.00 27,083.33 0.00
A-10 66937RAK5 SEQ 7.00000% 5,000,000.00 29,166.67 0.00
A-11 66937RAL3 SEQ 6.45625% 30,768,750.00 165,542.29 0.00
A-12 66937RAM1 SEQ 7.63125% 10,256,250.00 65,223.34 0.00
A-13 66937RAN9 SEQ 6.75000% 80,000,000.00 450,000.00 61,703.58
APO NMB9823PO PO 0.00000% 1,286,191.44 0.00 1,319.68
A-R 66937RAP4 R 6.75000% 100.00 0.56 100.00
B-1 66937RAQ2 SUB 6.75000% 12,006,000.00 67,533.75 9,260.16
B-2 66937RAR0 SUB 6.75000% 10,405,000.00 58,528.12 8,025.32
B-3 66937RAS8 SUB 6.75000% 3,602,000.00 20,261.25 2,778.20
B-4 66937RAT6 SUB 6.75000% 2,402,000.00 13,511.25 1,852.65
B-5 66937RAU3 SUB 6.75000% 1,600,000.00 9,000.00 1,234.07
B-6 66937RAV1 SUB 6.75000% 2,001,898.76 11,260.68 857.03
Totals 800,409,190.20 4,495,066.87 12,729,788.41
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
A-1 0.00 79,963,968.12 3,027,246.26 0.00
A-2 0.00 15,512,690.65 554,179.97 0.00
A-3 0.00 73,256,510.38 2,165,364.62 0.00
A-4 0.00 394,404,173.13 10,134,629.37 0.00
A-5 0.00 10,000,000.00 56,250.00 0.00
A-6 0.00 5,000,000.00 28,125.00 0.00
A-7 0.00 39,963,000.00 224,791.88 0.00
A-8 0.00 5,338,000.00 30,026.25 0.00
A-9 0.00 5,000,000.00 27,083.33 0.00
A-10 0.00 5,000,000.00 29,166.67 0.00
A-11 0.00 30,768,750.00 165,542.29 0.00
A-12 0.00 10,256,250.00 65,223.34 0.00
A-13 0.00 79,938,296.42 511,703.58 0.00
APO 0.00 1,284,871.76 1,319.68 0.00
A-R 0.00 0.00 100.56 0.00
B-1 0.00 11,996,739.84 76,793.91 0.00
B-2 0.00 10,396,974.68 66,553.44 0.00
B-3 0.00 3,599,221.80 23,039.45 0.00
B-4 0.00 2,400,147.35 15,363.90 0.00
B-5 0.00 1,598,765.93 10,234.07 0.00
B-6 687.02 2,000,354.71 12,117.71 687.02
Totals 687.02 787,678,714.77 17,224,855.28 687.02
<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>
A-1 82,527,000.00 82,527,000.00 107,437.61 2,455,594.26 0.00 0.00
A-2 15,977,000.00 15,977,000.00 19,463.00 444,846.35 0.00 0.00
A-3 75,000,000.00 75,000,000.00 73,083.90 1,670,405.72 0.00 0.00
A-4 402,276,000.00 402,276,000.00 329,972.60 7,541,854.27 0.00 0.00
A-5 10,000,000.00 10,000,000.00 0.00 0.00 0.00 0.00
A-6 5,000,000.00 5,000,000.00 0.00 0.00 0.00 0.00
A-7 39,963,000.00 39,963,000.00 0.00 0.00 0.00 0.00
A-8 5,338,000.00 5,338,000.00 0.00 0.00 0.00 0.00
A-9 5,000,000.00 5,000,000.00 0.00 0.00 0.00 0.00
A-10 5,000,000.00 5,000,000.00 0.00 0.00 0.00 0.00
A-11 30,768,750.00 30,768,750.00 0.00 0.00 0.00 0.00
A-12 10,256,250.00 10,256,250.00 0.00 0.00 0.00 0.00
A-13 80,000,000.00 80,000,000.00 61,703.58 0.00 0.00 0.00
APO 1,286,191.44 1,286,191.44 1,126.55 193.13 0.00 0.00
A-R 100.00 100.00 4.19 95.81 0.00 0.00
B-1 12,006,000.00 12,006,000.00 9,260.16 0.00 0.00 0.00
B-2 10,405,000.00 10,405,000.00 8,025.32 0.00 0.00 0.00
B-3 3,602,000.00 3,602,000.00 2,778.20 0.00 0.00 0.00
B-4 2,402,000.00 2,402,000.00 1,852.65 0.00 0.00 0.00
B-5 1,600,000.00 1,600,000.00 1,234.07 0.00 0.00 0.00
B-6 2,001,898.76 2,001,898.76 857.03 0.00 0.00 687.02
Totals 800,409,190.20 800,409,190.20 616,798.86 12,112,989.54 0.00 687.02
<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>
A-1 2,563,031.88 79,963,968.12 0.96894311 2,563,031.88
A-2 464,309.35 15,512,690.65 0.97093889 464,309.35
A-3 1,743,489.62 73,256,510.38 0.97675347 1,743,489.62
A-4 7,871,826.87 394,404,173.13 0.98043178 7,871,826.87
A-5 0.00 10,000,000.00 1.00000000 0.00
A-6 0.00 5,000,000.00 1.00000000 0.00
A-7 0.00 39,963,000.00 1.00000000 0.00
A-8 0.00 5,338,000.00 1.00000000 0.00
A-9 0.00 5,000,000.00 1.00000000 0.00
A-10 0.00 5,000,000.00 1.00000000 0.00
A-11 0.00 30,768,750.00 1.00000000 0.00
A-12 0.00 10,256,250.00 1.00000000 0.00
A-13 61,703.58 79,938,296.42 0.99922871 61,703.58
APO 1,319.68 1,284,871.76 0.99897396 1,319.68
A-R 100.00 0.00 0.00000000 100.00
B-1 9,260.16 11,996,739.84 0.99922871 9,260.16
B-2 8,025.32 10,396,974.68 0.99922871 8,025.32
B-3 2,778.20 3,599,221.80 0.99922871 2,778.20
B-4 1,852.65 2,400,147.35 0.99922871 1,852.65
B-5 1,234.07 1,598,765.93 0.99922871 1,234.07
B-6 1,544.05 2,000,354.71 0.99922871 857.03
Totals 12,730,475.43 787,678,714.77 0.98409504 12,729,788.41
</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>
A-1 82,527,000.00 1000.00000000 1.30184800 29.75504090 0.00000000
A-2 15,977,000.00 1000.00000000 1.21818865 27.84292107 0.00000000
A-3 75,000,000.00 1000.00000000 0.97445200 22.27207627 0.00000000
A-4 402,276,000.00 1000.00000000 0.82026420 18.74795978 0.00000000
A-5 10,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-6 5,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-7 39,963,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-8 5,338,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-9 5,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-10 5,000,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-11 30,768,750.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-12 10,256,250.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-13 80,000,000.00 1000.00000000 0.77129475 0.00000000 0.00000000
APO 1,286,191.44 1000.00000000 0.87588050 0.15015650 0.00000000
A-R 100.00 1000.00000000 41.90000000 958.10000000 0.00000000
B-1 12,006,000.00 1000.00000000 0.77129435 0.00000000 0.00000000
B-2 10,405,000.00 1000.00000000 0.77129457 0.00000000 0.00000000
B-3 3,602,000.00 1000.00000000 0.77129373 0.00000000 0.00000000
B-4 2,402,000.00 1000.00000000 0.77129475 0.00000000 0.00000000
B-5 1,600,000.00 1000.00000000 0.77129375 0.00000000 0.00000000
B-6 2,001,898.76 1000.00000000 0.42810856 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>
A-1 0.00000000 31.05688902 968.94311098 0.96894311 31.05688902
A-2 0.00000000 29.06110972 970.93889028 0.97093889 29.06110972
A-3 0.00000000 23.24652827 976.75347173 0.97675347 23.24652827
A-4 0.00000000 19.56822398 980.43177602 0.98043178 19.56822398
A-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-8 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-9 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-10 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-11 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-12 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-13 0.00000000 0.77129475 999.22870525 0.99922871 0.77129475
APO 0.00000000 1.02603699 998.97396301 0.99897396 1.02603699
A-R 0.00000000 1000.00000000 0.00000000 0.00000000 1000.00000000
B-1 0.00000000 0.77129435 999.22870565 0.99922871 0.77129435
B-2 0.00000000 0.77129457 999.22870543 0.99922871 0.77129457
B-3 0.00000000 0.77129373 999.22870627 0.99922871 0.77129373
B-4 0.00000000 0.77129475 999.22870525 0.99922871 0.77129475
B-5 0.00000000 0.77129375 999.22870625 0.99922871 0.77129375
B-6 0.34318419 0.77129275 999.22870725 0.99922871 0.42810856
<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>
A-1 82,527,000.00 6.75000% 82,527,000.00 464,214.38 0.00 0.00
A-2 15,977,000.00 6.75000% 15,977,000.00 89,870.62 0.00 0.00
A-3 75,000,000.00 6.75000% 75,000,000.00 421,875.00 0.00 0.00
A-4 402,276,000.00 6.75000% 402,276,000.00 2,262,802.50 0.00 0.00
A-5 10,000,000.00 6.75000% 10,000,000.00 56,250.00 0.00 0.00
A-6 5,000,000.00 6.75000% 5,000,000.00 28,125.00 0.00 0.00
A-7 39,963,000.00 6.75000% 39,963,000.00 224,791.88 0.00 0.00
A-8 5,338,000.00 6.75000% 5,338,000.00 30,026.25 0.00 0.00
A-9 5,000,000.00 6.50000% 5,000,000.00 27,083.33 0.00 0.00
A-10 5,000,000.00 7.00000% 5,000,000.00 29,166.67 0.00 0.00
A-11 30,768,750.00 6.45625% 30,768,750.00 165,542.29 0.00 0.00
A-12 10,256,250.00 7.63125% 10,256,250.00 65,223.34 0.00 0.00
A-13 80,000,000.00 6.75000% 80,000,000.00 450,000.00 0.00 0.00
APO 1,286,191.44 0.00000% 1,286,191.44 0.00 0.00 0.00
A-R 100.00 6.75000% 100.00 0.56 0.00 0.00
B-1 12,006,000.00 6.75000% 12,006,000.00 67,533.75 0.00 0.00
B-2 10,405,000.00 6.75000% 10,405,000.00 58,528.12 0.00 0.00
B-3 3,602,000.00 6.75000% 3,602,000.00 20,261.25 0.00 0.00
B-4 2,402,000.00 6.75000% 2,402,000.00 13,511.25 0.00 0.00
B-5 1,600,000.00 6.75000% 1,600,000.00 9,000.00 0.00 0.00
B-6 2,001,898.76 6.75000% 2,001,898.76 11,260.68 0.00 0.00
Totals 800,409,190.20 4,495,066.87 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>
A-1 0.00 0.00 464,214.38 0.00 79,963,968.12
A-2 0.00 0.00 89,870.62 0.00 15,512,690.65
A-3 0.00 0.00 421,875.00 0.00 73,256,510.38
A-4 0.00 0.00 2,262,802.50 0.00 394,404,173.13
A-5 0.00 0.00 56,250.00 0.00 10,000,000.00
A-6 0.00 0.00 28,125.00 0.00 5,000,000.00
A-7 0.00 0.00 224,791.88 0.00 39,963,000.00
A-8 0.00 0.00 30,026.25 0.00 5,338,000.00
A-9 0.00 0.00 27,083.33 0.00 5,000,000.00
A-10 0.00 0.00 29,166.67 0.00 5,000,000.00
A-11 0.00 0.00 165,542.29 0.00 30,768,750.00
A-12 0.00 0.00 65,223.34 0.00 10,256,250.00
A-13 0.00 0.00 450,000.00 0.00 79,938,296.42
APO 0.00 0.00 0.00 0.00 1,284,871.76
A-R 0.00 0.00 0.56 0.00 0.00
B-1 0.00 0.00 67,533.75 0.00 11,996,739.84
B-2 0.00 0.00 58,528.12 0.00 10,396,974.68
B-3 0.00 0.00 20,261.25 0.00 3,599,221.80
B-4 0.00 0.00 13,511.25 0.00 2,400,147.35
B-5 0.00 0.00 9,000.00 0.00 1,598,765.93
B-6 0.00 0.00 11,260.68 0.00 2,000,354.71
Totals 0.00 0.00 4,495,066.87 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>
A-1 82,527,000.00 6.75000% 1000.00000000 5.62500006 0.00000000 0.00000000
A-2 15,977,000.00 6.75000% 1000.00000000 5.62499969 0.00000000 0.00000000
A-3 75,000,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-4 402,276,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-5 10,000,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-6 5,000,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-7 39,963,000.00 6.75000% 1000.00000000 5.62500013 0.00000000 0.00000000
A-8 5,338,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
A-9 5,000,000.00 6.50000% 1000.00000000 5.41666600 0.00000000 0.00000000
A-10 5,000,000.00 7.00000% 1000.00000000 5.83333400 0.00000000 0.00000000
A-11 30,768,750.00 6.45625% 1000.00000000 5.38020849 0.00000000 0.00000000
A-12 10,256,250.00 7.63125% 1000.00000000 6.35937502 0.00000000 0.00000000
A-13 80,000,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
APO 1,286,191.44 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
A-R 100.00 6.75000% 1000.00000000 5.60000000 0.00000000 0.00000000
B-1 12,006,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
B-2 10,405,000.00 6.75000% 1000.00000000 5.62499952 0.00000000 0.00000000
B-3 3,602,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
B-4 2,402,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
B-5 1,600,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000
B-6 2,001,898.76 6.75000% 1000.00000000 5.62499974 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>
A-1 0.00000000 0.00000000 5.62500006 0.00000000 968.94311098
A-2 0.00000000 0.00000000 5.62499969 0.00000000 970.93889028
A-3 0.00000000 0.00000000 5.62500000 0.00000000 976.75347173
A-4 0.00000000 0.00000000 5.62500000 0.00000000 980.43177602
A-5 0.00000000 0.00000000 5.62500000 0.00000000 1000.00000000
A-6 0.00000000 0.00000000 5.62500000 0.00000000 1000.00000000
A-7 0.00000000 0.00000000 5.62500013 0.00000000 1000.00000000
A-8 0.00000000 0.00000000 5.62500000 0.00000000 1000.00000000
A-9 0.00000000 0.00000000 5.41666600 0.00000000 1000.00000000
A-10 0.00000000 0.00000000 5.83333400 0.00000000 1000.00000000
A-11 0.00000000 0.00000000 5.38020849 0.00000000 1000.00000000
A-12 0.00000000 0.00000000 6.35937502 0.00000000 1000.00000000
A-13 0.00000000 0.00000000 5.62500000 0.00000000 999.22870525
APO 0.00000000 0.00000000 0.00000000 0.00000000 998.97396301
A-R 0.00000000 0.00000000 5.60000000 0.00000000 0.00000000
B-1 0.00000000 0.00000000 5.62500000 0.00000000 999.22870565
B-2 0.00000000 0.00000000 5.62499952 0.00000000 999.22870543
B-3 0.00000000 0.00000000 5.62500000 0.00000000 999.22870627
B-4 0.00000000 0.00000000 5.62500000 0.00000000 999.22870525
B-5 0.00000000 0.00000000 5.62500000 0.00000000 999.22870625
B-6 0.00000000 0.00000000 5.62499974 0.00000000 999.22870725
<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>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 17,275,764.72
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 115,811.57
Realized Losses 0.00
Total Deposits 17,391,576.29
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 166,721.00
Payment of Interest and Principal 17,224,855.29
Total Withdrawals (Pool Distribution Amount) 17,391,576.29
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 11,341.75
Servicing Fee Support 11,341.75
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 166,725.42
Master Servicing Fee 11,337.33
Supported Prepayment/Curtailment Interest Shortfall 11,341.75
Net Servicing Fee 166,721.00
</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 8 2,394,437.10 0.352268% 0.303987%
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 8 2,394,437.10 0.352268% 0.303987%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 687.02
Cumulative Realized Losses - Includes Interest Shortfall 687.02
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 771,460.66
</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 32,016,898.76 4.00006636% 31,992,204.31 4.06158040% 95.931783% 100.000000%
Class B-1 20,010,898.76 2.50008358% 19,995,464.47 2.53853051% 1.525538% 0.000000%
Class B-2 9,605,898.76 1.20012350% 9,598,489.79 1.21857930% 1.322108% 0.000000%
Class B-3 6,003,898.76 0.75010368% 5,999,267.99 0.76163896% 0.457687% 0.000000%
Class B-4 3,601,898.76 0.45000717% 3,599,120.64 0.45692750% 0.305209% 0.000000%
Class B-5 2,001,898.76 0.25010942% 2,000,354.71 0.25395566% 0.203303% 0.000000%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.254371% 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 245,778.31 0.03070658% 245,778.31 0.03120286%
Fraud 16,008,183.80 2.00000000% 16,008,183.80 2.03232403%
Special Hazard 8,004,091.90 1.00000000% 8,004,091.90 1.01616202%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Mixed Fixed
Weighted Average Gross Coupon 7.360791%
Weighted Average Pass-Through Rate 6.750000%
Weighted Average Maturity(Stepdown Calculation ) 356
Begin Scheduled Collateral Loan Count 2,299
Number Of Loans Paid In Full 28
End Scheduled Collateral Loan Count 2,271
Begining Scheduled Collateral Balance 800,409,190.20
Ending Scheduled Collateral Balance 787,678,714.76
Ending Actual Collateral Balance at 30-Sep-1998 787,222,363.02
Ending Scheduled Balance For Norwest 712,750,160.62
Ending Scheduled Balance For Other Services 74,928,554.14
Monthly P &I Constant 5,298,992.17
Class A Optimal Amount 17,019,433.11
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 689,332,008.90
Ending scheduled Balance For discounted Loans 98,346,705.86
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 696,094,963.91
Greater Than 80%, less than or equal to 85% 12,284,060.20
Greater than 85%, less than or equal to 95% 76,667,405.33
Greater than 95% 2,708,317.34
</TABLE>
