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 1998-23 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 December 28, 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
Monthly report distributed to holders of
EX-99.1 Mortgage Pass-Through Certificates, Series
1998-23 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 1998-23 Trust
By: Norwest Bank Minnesota, N.A., as Master Servicer
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 01/07/1999
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 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: 1998-23
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% 77,057,448.51 433,448.15 2,240,284.14
A-2 66937RAB5 SEQ 6.75000% 14,986,156.34 84,297.13 405,841.57
A-3 66937RAC3 SEQ 6.75000% 71,279,364.95 400,946.43 1,523,942.09
A-4 66937RAD1 SEQ 6.75000% 385,477,394.13 2,168,310.34 6,880,573.38
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 5.84234% 30,768,750.00 149,801.25 0.00
A-12 66937RAM1 SEQ 9.47298% 10,256,250.00 80,964.38 0.00
A-13 66937RAN9 SEQ 6.75000% 79,876,159.44 449,303.40 62,897.47
APO NMB9823PO PO 0.00000% 1,283,591.16 0.00 1,359.02
A-R 66937RAP4 R 6.75000% 0.00 0.00 0.00
B-1 66937RAQ2 SUB 6.75000% 11,987,414.63 67,429.21 9,439.34
B-2 66937RAR0 SUB 6.75000% 10,388,892.99 58,437.52 8,180.60
B-3 66937RAS8 SUB 6.75000% 3,596,424.08 20,229.89 2,831.96
B-4 66937RAT6 SUB 6.75000% 2,398,281.69 13,490.33 1,888.50
B-5 66937RAU3 SUB 6.75000% 1,597,523.19 8,986.07 1,257.95
B-6 66937RAV1 SUB 6.75000% 1,998,799.81 11,243.25 1,487.26
Totals 773,253,450.92 4,342,330.48 11,139,983.28
</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 74,817,164.37 2,673,732.29 0.00
A-2 0.00 14,580,314.77 490,138.70 0.00
A-3 0.00 69,755,422.86 1,924,888.52 0.00
A-4 0.00 378,596,820.75 9,048,883.72 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 30,768,750.00 149,801.25 0.00
A-12 0.00 10,256,250.00 80,964.38 0.00
A-13 0.00 79,813,261.97 512,200.87 0.00
APO 0.00 1,282,232.14 1,359.02 0.00
A-R 0.00 0.00 0.00 0.00
B-1 0.00 11,977,975.29 76,868.55 0.00
B-2 0.00 10,380,712.38 66,618.12 0.00
B-3 0.00 3,593,592.12 23,061.85 0.00
B-4 0.00 2,396,393.19 15,378.83 0.00
B-5 0.00 1,596,265.24 10,244.02 0.00
B-6 86.67 1,997,225.88 12,730.51 1,379.23
Totals 86.67 762,113,380.96 15,482,313.76 1,379.23
<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 77,057,448.51 105,380.12 2,134,904.02 0.00 0.00
A-2 15,977,000.00 14,986,156.34 19,090.27 386,751.29 0.00 0.00
A-3 75,000,000.00 71,279,364.95 71,684.30 1,452,257.79 0.00 0.00
A-4 402,276,000.00 385,477,394.13 323,653.44 6,556,919.95 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 79,876,159.44 62,897.47 0.00 0.00 0.00
APO 1,286,191.44 1,283,591.16 1,140.76 218.26 0.00 0.00
A-R 100.00 0.00 0.00 0.00 0.00 0.00
B-1 12,006,000.00 11,987,414.63 9,439.34 0.00 0.00 0.00
B-2 10,405,000.00 10,388,892.99 8,180.60 0.00 0.00 0.00
B-3 3,602,000.00 3,596,424.08 2,831.96 0.00 0.00 0.00
B-4 2,402,000.00 2,398,281.69 1,888.50 0.00 0.00 0.00
B-5 1,600,000.00 1,597,523.19 1,257.95 0.00 0.00 0.00
B-6 2,001,898.76 1,998,799.81 1,487.26 0.00 0.00 86.67
Totals 800,409,190.20 773,253,450.92 608,931.97 10,531,051.31 0.00 86.67
<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 2,240,284.14 74,817,164.37 0.90657802 2,240,284.14
A-2 405,841.57 14,580,314.77 0.91258151 405,841.57
A-3 1,523,942.09 69,755,422.86 0.93007230 1,523,942.09
A-4 6,880,573.38 378,596,820.75 0.94113698 6,880,573.38
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 62,897.47 79,813,261.97 0.99766577 62,897.47
APO 1,359.02 1,282,232.14 0.99692169 1,359.02
A-R 0.00 0.00 0.00000000 0.00
B-1 9,439.34 11,977,975.29 0.99766577 9,439.34
B-2 8,180.60 10,380,712.38 0.99766577 8,180.60
B-3 2,831.96 3,593,592.12 0.99766577 2,831.96
B-4 1,888.50 2,396,393.19 0.99766577 1,888.50
B-5 1,257.95 1,596,265.24 0.99766578 1,257.95
B-6 1,573.93 1,997,225.88 0.99766578 1,487.26
Totals 11,140,069.95 762,113,380.96 0.95215471 11,139,983.28
</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 82,527,000.00 933.72409648 1.27691689 25.86915821 0.00000000
A-2 15,977,000.00 937.98312199 1.19485949 24.20675283 0.00000000
A-3 75,000,000.00 950.39153267 0.95579067 19.36343720 0.00000000
A-4 402,276,000.00 958.24109350 0.80455568 16.29955540 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 80,000,000.00 998.45199300 0.78621837 0.00000000 0.00000000
APO 1,286,191.44 997.97831029 0.88692862 0.16969480 0.00000000
A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000
B-1 12,006,000.00 998.45199317 0.78621856 0.00000000 0.00000000
B-2 10,405,000.00 998.45199327 0.78621816 0.00000000 0.00000000
B-3 3,602,000.00 998.45199334 0.78621877 0.00000000 0.00000000
B-4 2,402,000.00 998.45199417 0.78621982 0.00000000 0.00000000
B-5 1,600,000.00 998.45199375 0.78621875 0.00000000 0.00000000
B-6 2,001,898.76 998.45199465 0.74292468 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 27.14607510 906.57802137 0.90657802 27.14607510
A-2 0.00000000 25.40161294 912.58150904 0.91258151 25.40161294
A-3 0.00000000 20.31922787 930.07230480 0.93007230 20.31922787
A-4 0.00000000 17.10411106 941.13698244 0.94113698 17.10411106
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 0.78621837 997.66577462 0.99766577 0.78621837
APO 0.00000000 1.05662342 996.92168687 0.99692169 1.05662342
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 0.78621856 997.66577461 0.99766577 0.78621856
B-2 0.00000000 0.78621816 997.66577415 0.99766577 0.78621816
B-3 0.00000000 0.78621877 997.66577457 0.99766577 0.78621877
B-4 0.00000000 0.78621982 997.66577435 0.99766577 0.78621982
B-5 0.00000000 0.78621875 997.66577500 0.99766577 0.78621875
B-6 0.04329390 0.78621858 997.66577607 0.99766578 0.74292468
<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% 77,057,448.51 433,448.15 0.00 0.00
A-2 15,977,000.00 6.75000% 14,986,156.34 84,297.13 0.00 0.00
A-3 75,000,000.00 6.75000% 71,279,364.95 400,946.43 0.00 0.00
A-4 402,276,000.00 6.75000% 385,477,394.13 2,168,310.34 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 5.84234% 30,768,750.00 149,801.25 0.00 0.00
A-12 10,256,250.00 9.47298% 10,256,250.00 80,964.38 0.00 0.00
A-13 80,000,000.00 6.75000% 79,876,159.44 449,303.40 0.00 0.00
APO 1,286,191.44 0.00000% 1,283,591.16 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% 11,987,414.63 67,429.21 0.00 0.00
B-2 10,405,000.00 6.75000% 10,388,892.99 58,437.52 0.00 0.00
B-3 3,602,000.00 6.75000% 3,596,424.08 20,229.89 0.00 0.00
B-4 2,402,000.00 6.75000% 2,398,281.69 13,490.33 0.00 0.00
B-5 1,600,000.00 6.75000% 1,597,523.19 8,986.07 0.00 0.00
B-6 2,001,898.76 6.75000% 1,998,799.81 11,243.25 0.00 0.00
Totals 800,409,190.20 4,342,330.48 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 0.00 433,448.15 0.00 74,817,164.37
A-2 0.00 0.00 84,297.13 0.00 14,580,314.77
A-3 0.00 0.00 400,946.43 0.00 69,755,422.86
A-4 0.00 0.00 2,168,310.34 0.00 378,596,820.75
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 0.00 149,801.25 0.00 30,768,750.00
A-12 0.00 0.00 80,964.38 0.00 10,256,250.00
A-13 0.00 0.00 449,303.40 0.00 79,813,261.97
APO 0.00 0.00 0.00 0.00 1,282,232.14
A-R 0.00 0.00 0.00 0.00 0.00
B-1 0.00 0.00 67,429.21 0.00 11,977,975.29
B-2 0.00 0.00 58,437.52 0.00 10,380,712.38
B-3 0.00 0.00 20,229.89 0.00 3,593,592.12
B-4 0.00 0.00 13,490.33 0.00 2,396,393.19
B-5 0.00 0.00 8,986.07 0.00 1,596,265.24
B-6 0.00 0.00 11,243.25 0.00 1,997,225.88
Totals 0.00 0.00 4,342,330.48 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% 933.72409648 5.25219807 0.00000000 0.00000000
A-2 15,977,000.00 6.75000% 937.98312199 5.27615510 0.00000000 0.00000000
A-3 75,000,000.00 6.75000% 950.39153267 5.34595240 0.00000000 0.00000000
A-4 402,276,000.00 6.75000% 958.24109350 5.39010615 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 5.84234% 1000.00000000 4.86861670 0.00000000 0.00000000
A-12 10,256,250.00 9.47298% 1000.00000000 7.89415040 0.00000000 0.00000000
A-13 80,000,000.00 6.75000% 998.45199300 5.61629250 0.00000000 0.00000000
APO 1,286,191.44 0.00000% 997.97831029 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% 998.45199317 5.61629269 0.00000000 0.00000000
B-2 10,405,000.00 6.75000% 998.45199327 5.61629217 0.00000000 0.00000000
B-3 3,602,000.00 6.75000% 998.45199334 5.61629373 0.00000000 0.00000000
B-4 2,402,000.00 6.75000% 998.45199417 5.61629059 0.00000000 0.00000000
B-5 1,600,000.00 6.75000% 998.45199375 5.61629375 0.00000000 0.00000000
B-6 2,001,898.76 6.75000% 998.45199465 5.61629300 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 5.25219807 0.00000000 906.57802137
A-2 0.00000000 0.00000000 5.27615510 0.00000000 912.58150904
A-3 0.00000000 0.00000000 5.34595240 0.00000000 930.07230480
A-4 0.00000000 0.00000000 5.39010615 0.00000000 941.13698244
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 4.86861670 0.00000000 1000.00000000
A-12 0.00000000 0.00000000 7.89415040 0.00000000 1000.00000000
A-13 0.00000000 0.00000000 5.61629250 0.00000000 997.66577462
APO 0.00000000 0.00000000 0.00000000 0.00000000 996.92168687
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 0.00000000 5.61629269 0.00000000 997.66577461
B-2 0.00000000 0.00000000 5.61629217 0.00000000 997.66577415
B-3 0.00000000 0.00000000 5.61629373 0.00000000 997.66577457
B-4 0.00000000 0.00000000 5.61629059 0.00000000 997.66577435
B-5 0.00000000 0.00000000 5.61629375 0.00000000 997.66577500
B-6 0.00000000 0.00000000 5.61629300 0.00000000 997.66577607
<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 15,756,931.66
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 15,756,931.66
Withdrawals
Reimbursement for Servicer Advances 13,763.61
Payment of Service Fee 164,155.53
Payment of Interest and Principal 15,482,313.74
Total Withdrawals (Pool Distribution Amount) 15,660,232.88
Ending Balance 96,698.78
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 7,892.32
Servicing Fee Support 7,892.32
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 161,093.49
Master Servicing Fee 10,954.36
Supported Prepayment/Curtailment Interest Shortfall 7,892.32
Net Servicing Fee 164,155.53
</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 5 1,622,803.94 0.226449% 0.212935%
60 Days 1 380,431.31 0.045290% 0.049918%
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 6 2,003,235.25 0.271739% 0.262853%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 86.67
Cumulative Realized Losses - Includes Interest Shortfall 1,379.23
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 643,085.63
</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% 31,942,164.10 4.19126142% 95.801675% 100.000000%
Class B-1 20,010,898.76 2.50008358% 19,964,188.81 2.61958251% 1.574328% 0.000000%
Class B-2 9,605,898.76 1.20012350% 9,583,476.43 1.25748697% 1.364391% 0.000000%
Class B-3 6,003,898.76 0.75010368% 5,989,884.31 0.78595711% 0.472325% 0.000000%
Class B-4 3,601,898.76 0.45000717% 3,593,491.12 0.47151660% 0.314970% 0.000000%
Class B-5 2,001,898.76 0.25010942% 1,997,225.88 0.26206414% 0.209805% 0.000000%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.262506% 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 0.03224957%
Fraud 16,008,183.80 2.00000000% 16,008,183.80 2.10049898%
Special Hazard 8,004,091.90 1.00000000% 8,004,091.90 1.05024949%
<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 7.353154%
Weighted Average Pass-Through Rate 6.750000%
Weighted Average Maturity(Stepdown Calculation ) 354
Begin Scheduled Collateral Loan Count 2,236
Number Of Loans Paid In Full 28
End Scheduled Collateral Loan Count 2,208
Begining Scheduled Collateral Balance 773,253,450.91
Ending Scheduled Collateral Balance 762,113,380.96
Ending Actual Collateral Balance at 30-Nov-1998 768,152,275.75
Ending Scheduled Balance For Norwest 689,137,812.52
Ending Scheduled Balance For Other Services 72,975,568.44
Monthly P &I Constant 5,131,343.27
Class A Optimal Amount 15,276,052.86
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 663,959,831.38
Ending scheduled Balance For discounted Loans 98,153,549.58
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 671,979,808.37
Greater Than 80%, less than or equal to 85% 12,258,072.81
Greater than 85%, less than or equal to 95% 75,223,563.43
Greater than 95% 2,702,545.58
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
</TABLE>
