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): November 25, 1998
NORWEST ASSET SECURITIES CORPORATION
Mortgage Pass-Through Certificates, Series 1998-23 Trust
New York (governing law of 333-45021-23 52-2128039
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 November 25, 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 November 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 1998-23 Trust
By: Norwest Bank Minnesota, N.A., as Master Servicer
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 11/25/1998
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 November
25, 1998 distribution.
<TABLE>
<CAPTION>
Norwest Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 10/30/1998
Distribution Date: 11/25/1998
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% 79,963,968.12 449,797.32 2,906,519.61
A-2 66937RAB5 SEQ 6.75000% 15,512,690.65 87,258.88 526,534.31
A-3 66937RAC3 SEQ 6.75000% 73,256,510.38 412,067.87 1,977,145.43
A-4 66937RAD1 SEQ 6.75000% 394,404,173.13 2,218,523.47 8,926,779.00
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 6.01938% 30,768,750.00 154,340.67 0.00
A-12 66937RAM1 SEQ 8.94186% 10,256,250.00 76,424.96 0.00
A-13 66937RAN9 SEQ 6.75000% 79,938,296.42 449,652.92 62,136.99
APO NMB9823PO PO 0.00000% 1,284,871.76 0.00 1,280.60
A-R 66937RAP4 R 6.75000% 0.00 0.00 0.00
B-1 66937RAQ2 SUB 6.75000% 11,996,739.84 67,481.66 9,325.21
B-2 66937RAR0 SUB 6.75000% 10,396,974.68 58,482.98 8,081.69
B-3 66937RAS8 SUB 6.75000% 3,599,221.80 20,245.62 2,797.72
B-4 66937RAT6 SUB 6.75000% 2,400,147.35 13,500.83 1,865.66
B-5 66937RAU3 SUB 6.75000% 1,598,765.93 8,993.06 1,242.74
B-6 66937RAV1 SUB 6.75000% 2,000,354.71 11,252.00 949.36
Totals 787,678,714.77 4,423,465.37 14,424,658.32
</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 77,057,448.51 3,356,316.93 0.00
A-2 0.00 14,986,156.34 613,793.19 0.00
A-3 0.00 71,279,364.95 2,389,213.30 0.00
A-4 0.00 385,477,394.13 11,145,302.47 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 30,768,750.00 154,340.67 0.00
A-12 0.00 10,256,250.00 76,424.96 0.00
A-13 0.00 79,876,159.44 511,789.91 0.00
APO 0.00 1,283,591.16 1,280.60 0.00
A-R 0.00 0.00 0.00 0.00
B-1 0.00 11,987,414.63 76,806.87 0.00
B-2 0.00 10,388,892.99 66,564.67 0.00
B-3 0.00 3,596,424.08 23,043.34 0.00
B-4 0.00 2,398,281.69 15,366.49 0.00
B-5 0.00 1,597,523.19 10,235.80 0.00
B-6 605.54 1,998,799.81 12,201.36 1,292.56
Totals 605.54 773,253,450.92 18,848,123.69 1,292.56
<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 79,963,968.12 106,284.34 2,800,235.27 0.00 0.00
A-2 15,977,000.00 15,512,690.65 19,254.08 507,280.23 0.00 0.00
A-3 75,000,000.00 73,256,510.38 72,299.39 1,904,846.04 0.00 0.00
A-4 402,276,000.00 394,404,173.13 326,430.56 8,600,348.44 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 79,938,296.42 62,136.99 0.00 0.00 0.00
APO 1,286,191.44 1,284,871.76 1,133.58 147.02 0.00 0.00
A-R 100.00 0.00 0.00 0.00 0.00 0.00
B-1 12,006,000.00 11,996,739.84 9,325.21 0.00 0.00 0.00
B-2 10,405,000.00 10,396,974.68 8,081.69 0.00 0.00 0.00
B-3 3,602,000.00 3,599,221.80 2,797.72 0.00 0.00 0.00
B-4 2,402,000.00 2,400,147.35 1,865.66 0.00 0.00 0.00
B-5 1,600,000.00 1,598,765.93 1,242.74 0.00 0.00 0.00
B-6 2,001,898.76 2,000,354.71 949.36 0.00 0.00 605.54
Totals 800,409,190.20 787,678,714.77 611,801.32 13,812,857.00 0.00 605.54
<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 2,906,519.61 77,057,448.51 0.93372410 2,906,519.61
A-2 526,534.31 14,986,156.34 0.93798312 526,534.31
A-3 1,977,145.43 71,279,364.95 0.95039153 1,977,145.43
A-4 8,926,779.00 385,477,394.13 0.95824109 8,926,779.00
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 62,136.99 79,876,159.44 0.99845199 62,136.99
APO 1,280.60 1,283,591.16 0.99797831 1,280.60
A-R 0.00 0.00 0.00000000 0.00
B-1 9,325.21 11,987,414.63 0.99845199 9,325.21
B-2 8,081.69 10,388,892.99 0.99845199 8,081.69
B-3 2,797.72 3,596,424.08 0.99845199 2,797.72
B-4 1,865.66 2,398,281.69 0.99845199 1,865.66
B-5 1,242.74 1,597,523.19 0.99845199 1,242.74
B-6 1,554.90 1,998,799.81 0.99845199 949.36
Totals 14,425,263.86 773,253,450.92 0.96607268 14,424,658.32
</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 82,527,000.00 968.94311098 1.28787354 33.93114096 0.00000000
A-2 15,977,000.00 970.93889028 1.20511235 31.75065594 0.00000000
A-3 75,000,000.00 976.75347173 0.96399187 25.39794720 0.00000000
A-4 402,276,000.00 980.43177602 0.81145920 21.37922332 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 80,000,000.00 999.22870525 0.77671237 0.00000000 0.00000000
APO 1,286,191.44 998.97396301 0.88134625 0.11430647 0.00000000
A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000
B-1 12,006,000.00 999.22870565 0.77671248 0.00000000 0.00000000
B-2 10,405,000.00 999.22870543 0.77671216 0.00000000 0.00000000
B-3 3,602,000.00 999.22870627 0.77671294 0.00000000 0.00000000
B-4 2,402,000.00 999.22870525 0.77671107 0.00000000 0.00000000
B-5 1,600,000.00 999.22870625 0.77671250 0.00000000 0.00000000
B-6 2,001,898.76 999.22870725 0.47422978 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 35.21901450 933.72409648 0.93372410 35.21901450
A-2 0.00000000 32.95576829 937.98312199 0.93798312 32.95576829
A-3 0.00000000 26.36193907 950.39153267 0.95039153 26.36193907
A-4 0.00000000 22.19068252 958.24109350 0.95824109 22.19068252
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 0.77671237 998.45199300 0.99845199 0.77671237
APO 0.00000000 0.99565272 997.97831029 0.99797831 0.99565272
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 0.77671248 998.45199317 0.99845199 0.77671248
B-2 0.00000000 0.77671216 998.45199327 0.99845199 0.77671216
B-3 0.00000000 0.77671294 998.45199334 0.99845199 0.77671294
B-4 0.00000000 0.77671107 998.45199417 0.99845199 0.77671107
B-5 0.00000000 0.77671250 998.45199375 0.99845199 0.77671250
B-6 0.30248283 0.77671260 998.45199465 0.99845199 0.47422978
<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% 79,963,968.12 449,797.32 0.00 0.00
A-2 15,977,000.00 6.75000% 15,512,690.65 87,258.88 0.00 0.00
A-3 75,000,000.00 6.75000% 73,256,510.38 412,067.87 0.00 0.00
A-4 402,276,000.00 6.75000% 394,404,173.13 2,218,523.47 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 6.01938% 30,768,750.00 154,340.67 0.00 0.00
A-12 10,256,250.00 8.94186% 10,256,250.00 76,424.96 0.00 0.00
A-13 80,000,000.00 6.75000% 79,938,296.42 449,652.92 0.00 0.00
APO 1,286,191.44 0.00000% 1,284,871.76 0.00 0.00 0.00
A-R 100.00 6.75000% 0.00 0.00 0.00 0.00
B-1 12,006,000.00 6.75000% 11,996,739.84 67,481.66 0.00 0.00
B-2 10,405,000.00 6.75000% 10,396,974.68 58,482.98 0.00 0.00
B-3 3,602,000.00 6.75000% 3,599,221.80 20,245.62 0.00 0.00
B-4 2,402,000.00 6.75000% 2,400,147.35 13,500.83 0.00 0.00
B-5 1,600,000.00 6.75000% 1,598,765.93 8,993.06 0.00 0.00
B-6 2,001,898.76 6.75000% 2,000,354.71 11,252.00 0.00 0.00
Totals 800,409,190.20 4,423,465.37 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 0.00 449,797.32 0.00 77,057,448.51
A-2 0.00 0.00 87,258.88 0.00 14,986,156.34
A-3 0.00 0.00 412,067.87 0.00 71,279,364.95
A-4 0.00 0.00 2,218,523.47 0.00 385,477,394.13
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 0.00 154,340.67 0.00 30,768,750.00
A-12 0.00 0.00 76,424.96 0.00 10,256,250.00
A-13 0.00 0.00 449,652.92 0.00 79,876,159.44
APO 0.00 0.00 0.00 0.00 1,283,591.16
A-R 0.00 0.00 0.00 0.00 0.00
B-1 0.00 0.00 67,481.66 0.00 11,987,414.63
B-2 0.00 0.00 58,482.98 0.00 10,388,892.99
B-3 0.00 0.00 20,245.62 0.00 3,596,424.08
B-4 0.00 0.00 13,500.83 0.00 2,398,281.69
B-5 0.00 0.00 8,993.06 0.00 1,597,523.19
B-6 0.00 0.00 11,252.00 0.00 1,998,799.81
Totals 0.00 0.00 4,423,465.37 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% 968.94311098 5.45030499 0.00000000 0.00000000
A-2 15,977,000.00 6.75000% 970.93889028 5.46153095 0.00000000 0.00000000
A-3 75,000,000.00 6.75000% 976.75347173 5.49423827 0.00000000 0.00000000
A-4 402,276,000.00 6.75000% 980.43177602 5.51492873 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 6.01938% 1000.00000000 5.01615015 0.00000000 0.00000000
A-12 10,256,250.00 8.94186% 1000.00000000 7.45155003 0.00000000 0.00000000
A-13 80,000,000.00 6.75000% 999.22870525 5.62066150 0.00000000 0.00000000
APO 1,286,191.44 0.00000% 998.97396301 0.00000000 0.00000000 0.00000000
A-R 100.00 6.75000% 0.00000000 0.00000000 0.00000000 0.00000000
B-1 12,006,000.00 6.75000% 999.22870565 5.62066134 0.00000000 0.00000000
B-2 10,405,000.00 6.75000% 999.22870543 5.62066122 0.00000000 0.00000000
B-3 3,602,000.00 6.75000% 999.22870627 5.62066074 0.00000000 0.00000000
B-4 2,402,000.00 6.75000% 999.22870525 5.62066195 0.00000000 0.00000000
B-5 1,600,000.00 6.75000% 999.22870625 5.62066250 0.00000000 0.00000000
B-6 2,001,898.76 6.75000% 999.22870725 5.62066385 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 5.45030499 0.00000000 933.72409648
A-2 0.00000000 0.00000000 5.46153095 0.00000000 937.98312199
A-3 0.00000000 0.00000000 5.49423827 0.00000000 950.39153267
A-4 0.00000000 0.00000000 5.51492873 0.00000000 958.24109350
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 5.01615015 0.00000000 1000.00000000
A-12 0.00000000 0.00000000 7.45155003 0.00000000 1000.00000000
A-13 0.00000000 0.00000000 5.62066150 0.00000000 998.45199300
APO 0.00000000 0.00000000 0.00000000 0.00000000 997.97831029
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 0.00000000 5.62066134 0.00000000 998.45199317
B-2 0.00000000 0.00000000 5.62066122 0.00000000 998.45199327
B-3 0.00000000 0.00000000 5.62066074 0.00000000 998.45199334
B-4 0.00000000 0.00000000 5.62066195 0.00000000 998.45199417
B-5 0.00000000 0.00000000 5.62066250 0.00000000 998.45199375
B-6 0.00000000 0.00000000 5.62066385 0.00000000 998.45199465
<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 19,112,615.40
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 13,763.61
Realized Losses 0.00
Total Deposits 19,126,379.01
Withdrawals
Reimbursement for Servicer Advances 115,811.57
Payment of Service Fee 162,443.75
Payment of Interest and Principal 18,848,123.68
Total Withdrawals (Pool Distribution Amount) 19,126,379.00
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 12,796.48
Servicing Fee Support 12,796.48
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 164,082.61
Master Servicing Fee 11,157.62
Supported Prepayment/Curtailment Interest Shortfall 12,796.48
Net Servicing Fee 162,443.75
</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 2 690,195.43 0.089445% 0.089259%
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 2 690,195.43 0.089445% 0.089259%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 605.54
Cumulative Realized Losses - Includes Interest Shortfall 1,292.56
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 701,837.13
</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% 31,967,336.39 4.13413433% 95.858992% 100.000000%
Class B-1 20,010,898.76 2.50008358% 19,979,921.76 2.58387748% 1.552835% 0.000000%
Class B-2 9,605,898.76 1.20012350% 9,591,028.77 1.24034736% 1.345764% 0.000000%
Class B-3 6,003,898.76 0.75010368% 5,994,604.69 0.77524448% 0.465876% 0.000000%
Class B-4 3,601,898.76 0.45000717% 3,596,323.00 0.46508981% 0.310670% 0.000000%
Class B-5 2,001,898.76 0.25010942% 1,998,799.81 0.25849219% 0.206941% 0.000000%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.258922% 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 0.03178496%
Fraud 16,008,183.80 2.00000000% 16,008,183.80 2.07023761%
Special Hazard 8,004,091.90 1.00000000% 8,004,091.90 1.03511881%
<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 7.356667%
Weighted Average Pass-Through Rate 6.750000%
Weighted Average Maturity(Stepdown Calculation ) 355
Begin Scheduled Collateral Loan Count 2,271
Number Of Loans Paid In Full 35
End Scheduled Collateral Loan Count 2,236
Begining Scheduled Collateral Balance 787,678,714.76
Ending Scheduled Collateral Balance 773,253,450.91
Ending Actual Collateral Balance at 30-Oct-1998 777,122,494.64
Ending Scheduled Balance For Norwest 699,969,759.36
Ending Scheduled Balance For Other Services 73,283,691.55
Monthly P &I Constant 5,219,732.81
Class A Optimal Amount 18,642,624.56
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 675,001,875.19
Ending scheduled Balance For discounted Loans 98,251,575.72
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 682,091,053.54
Greater Than 80%, less than or equal to 85% 12,272,090.91
Greater than 85%, less than or equal to 95% 76,247,536.69
Greater than 95% 2,705,777.44
</TABLE>