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Previous: NORWEST ASSET SEC CORP MORT PASS THR CERT SER 1998 24 TRUST, 8-K, 1998-11-09 |
Next: AERCO LTD, F-4, 1998-11-09 |
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 INTEGRATED STRUCTURED ASSETS, INC.
Mortgage Asset Backed Pass-Through Certificates, Series 1998-2 Trust
New York (governing law of 333-17801-02 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 INTEGRATED
STRUCTURED ASSETS, INC., Mortgage Asset Backed Pass-Through Certificates,
Series 1998-2 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 Asset Backed
Pass-Through Certificates, Series 1998-2 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 INTEGRATED STRUCTURED ASSETS, INC.
Mortgage Asset Backed Pass-Through Certificates, Series 1998-2 Trust
By: Norwest Bank Minnesota, N.A., as Master Servicer
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 11/04/1998
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Asset Backed
Pass-Through Certificates, Series 1998-2 Trust, relating to the
October 26, 1998 distribution.
<TABLE>
<CAPTION>
Norwest Integrated Structured Assets, inc.
Mortgage Pass-Through Certificates
Record Date: 09/30/1998
Distribution Date: 10/26/1998
NISTAR Series: 1998-2
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>
I-A-PO NIS982PO1 PO 0.00000% 37,049.93 0.00 65.81
I-A-1 66938DAS8 SEQ 6.65000% 117,500,000.00 651,145.83 1,238,871.16
I-A-2 66938DAT6 SEQ 7.00000% 2,477,198.00 14,450.32 0.00
I-A-3 66938DAU3 SEQ 6.65000% 13,800,000.00 76,475.00 0.00
I-A-4 66938DAV1 SEQ 0.00000% 74,503.00 0.00 0.00
I-A-5 66938DAW9 SEQ 6.50000% 1,477,199.00 8,001.49 0.00
I-A-6 66938DAX7 SEQ 8.00000% 500,000.00 3,333.33 0.00
I-A-7 66938DAY5 SEQ 8.00000% 500,000.00 3,333.33 0.00
I-AR 66938DAZ2 R 6.65000% 100.00 0.55 100.00
II-A-PO NIS982PO2 PO 0.00000% 44,937.44 0.00 105.83
II-A-1 66938DBA6 SEQ 7.00000% 125,899,700.00 734,414.92 1,195,579.20
II-A-2 66938DBB4 SEQ 0.00000% 6,626,300.00 0.00 62,925.22
B-1 66938DBC2 SUB 6.65000% 4,337,000.00 24,034.21 3,787.19
B-2 66938DBD0 SUB 6.65000% 10,409,000.00 57,683.21 9,089.43
B-3 66938DBE8 SUB 6.65000% 2,313,000.00 12,817.88 2,019.78
B-4 66938DBF5 SUB 6.65000% 1,300,000.00 7,204.17 1,135.20
B-5 66938DBG3 SUB 6.65000% 578,000.00 3,203.08 504.73
B-6 66938DBH1 SUB 6.65000% 1,307,294.09 7,244.59 795.10
Totals 289,181,281.46 1,603,341.91 2,514,978.65
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
I-A-PO 0.00 36,984.12 65.81 0.00
I-A-1 0.00 116,261,128.84 1,890,016.99 0.00
I-A-2 0.00 2,477,198.00 14,450.32 0.00
I-A-3 0.00 13,800,000.00 76,475.00 0.00
I-A-4 0.00 74,503.00 0.00 0.00
I-A-5 0.00 1,477,199.00 8,001.49 0.00
I-A-6 0.00 500,000.00 3,333.33 0.00
I-A-7 0.00 500,000.00 3,333.33 0.00
I-AR 0.00 0.00 100.55 0.00
II-A-PO 0.00 44,831.61 105.83 0.00
II-A-1 0.00 124,704,120.80 1,929,994.12 0.00
II-A-2 0.00 6,563,374.78 62,925.22 0.00
B-1 0.00 4,333,212.81 27,821.40 0.00
B-2 0.00 10,399,910.57 66,772.64 0.00
B-3 0.00 2,310,980.22 14,837.66 0.00
B-4 0.00 1,298,864.80 8,339.37 0.00
B-5 0.00 577,495.27 3,707.81 0.00
B-6 346.47 1,306,152.53 8,039.69 346.47
Totals 346.47 286,665,956.35 4,118,320.56 346.47
<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>
I-A-PO 37,049.93 37,049.93 65.81 0.00 0.00 0.00
I-A-1 117,500,000.00 117,500,000.00 116,464.48 1,122,406.68 0.00 0.00
I-A-2 2,477,198.00 2,477,198.00 0.00 0.00 0.00 0.00
I-A-3 13,800,000.00 13,800,000.00 0.00 0.00 0.00 0.00
I-A-4 74,503.00 74,503.00 0.00 0.00 0.00 0.00
I-A-5 1,477,199.00 1,477,199.00 0.00 0.00 0.00 0.00
I-A-6 500,000.00 500,000.00 0.00 0.00 0.00 0.00
I-A-7 500,000.00 500,000.00 0.00 0.00 0.00 0.00
I-AR 100.00 100.00 9.40 90.60 0.00 0.00
II-A-PO 44,937.44 44,937.44 80.06 25.77 0.00 0.00
II-A-1 125,899,700.00 125,899,700.00 112,382.66 1,083,196.53 0.00 0.00
II-A-2 6,626,300.00 6,626,300.00 5,914.88 57,010.34 0.00 0.00
B-1 4,337,000.00 4,337,000.00 3,787.19 0.00 0.00 0.00
B-2 10,409,000.00 10,409,000.00 9,089.43 0.00 0.00 0.00
B-3 2,313,000.00 2,313,000.00 2,019.78 0.00 0.00 0.00
B-4 1,300,000.00 1,300,000.00 1,135.20 0.00 0.00 0.00
B-5 578,000.00 578,000.00 504.73 0.00 0.00 0.00
B-6 1,307,294.09 1,307,294.09 795.10 0.00 0.00 346.47
Totals 289,181,281.46 289,181,281.46 252,248.72 2,262,729.92 0.00 346.47
<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>
I-A-PO 65.81 36,984.12 0.99822375 65.81
I-A-1 1,238,871.16 116,261,128.84 0.98945642 1,238,871.16
I-A-2 0.00 2,477,198.00 1.00000000 0.00
I-A-3 0.00 13,800,000.00 1.00000000 0.00
I-A-4 0.00 74,503.00 1.00000000 0.00
I-A-5 0.00 1,477,199.00 1.00000000 0.00
I-A-6 0.00 500,000.00 1.00000000 0.00
I-A-7 0.00 500,000.00 1.00000000 0.00
I-AR 100.00 0.00 0.00000000 100.00
II-A-PO 105.83 44,831.61 0.99764495 105.83
II-A-1 1,195,579.20 124,704,120.80 0.99050372 1,195,579.20
II-A-2 62,925.22 6,563,374.78 0.99050372 62,925.22
B-1 3,787.19 4,333,212.81 0.99912677 3,787.19
B-2 9,089.43 10,399,910.57 0.99912677 9,089.43
B-3 2,019.78 2,310,980.22 0.99912677 2,019.78
B-4 1,135.20 1,298,864.80 0.99912677 1,135.20
B-5 504.73 577,495.27 0.99912676 504.73
B-6 1,141.57 1,306,152.53 0.99912678 795.10
Totals 2,515,325.12 286,665,956.35 0.99130191 2,514,978.65
</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>
I-A-PO 37,049.93 1000.00000000 1.77625167 0.00000000 0.00000000
I-A-1 117,500,000.00 1000.00000000 0.99118706 9.55239728 0.00000000
I-A-2 2,477,198.00 1000.00000000 0.00000000 0.00000000 0.00000000
I-A-3 13,800,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
I-A-4 74,503.00 1000.00000000 0.00000000 0.00000000 0.00000000
I-A-5 1,477,199.00 1000.00000000 0.00000000 0.00000000 0.00000000
I-A-6 500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
I-A-7 500,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
I-AR 100.00 1000.00000000 94.00000000 906.00000000 0.00000000
II-A-PO 44,937.44 1000.00000000 1.78158791 0.57346391 0.00000000
II-A-1 125,899,700.00 1000.00000000 0.89263644 8.60364663 0.00000000
II-A-2 6,626,300.00 1000.00000000 0.89263692 8.60364608 0.00000000
B-1 4,337,000.00 1000.00000000 0.87322804 0.00000000 0.00000000
B-2 10,409,000.00 1000.00000000 0.87322798 0.00000000 0.00000000
B-3 2,313,000.00 1000.00000000 0.87322957 0.00000000 0.00000000
B-4 1,300,000.00 1000.00000000 0.87323077 0.00000000 0.00000000
B-5 578,000.00 1000.00000000 0.87323529 0.00000000 0.00000000
B-6 1,307,294.09 1000.00000000 0.60820286 0.00000000 0.00000000
<FN>
(2) Per $1000 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>
I-A-PO 0.00000000 1.77625167 998.22374833 0.99822375 1.77625167
I-A-1 0.00000000 10.54358434 989.45641566 0.98945642 10.54358434
I-A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
I-A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
I-A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
I-A-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
I-A-6 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
I-A-7 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
I-AR 0.00000000 1000.00000000 0.00000000 0.00000000 1000.00000000
II-A-PO 0.00000000 2.35505182 997.64494818 0.99764495 2.35505182
II-A-1 0.00000000 9.49628315 990.50371685 0.99050372 9.49628315
II-A-2 0.00000000 9.49628299 990.50371701 0.99050372 9.49628299
B-1 0.00000000 0.87322804 999.12677196 0.99912677 0.87322804
B-2 0.00000000 0.87322798 999.12677202 0.99912677 0.87322798
B-3 0.00000000 0.87322957 999.12677043 0.99912677 0.87322957
B-4 0.00000000 0.87323077 999.12676923 0.99912677 0.87323077
B-5 0.00000000 0.87323529 999.12676471 0.99912676 0.87323529
B-6 0.26502835 0.87323121 999.12677644 0.99912678 0.60820286
<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>
I-A-PO 37,049.93 0.00000% 37,049.93 0.00 0.00 0.00
I-A-1 117,500,000.00 6.65000% 117,500,000.00 651,145.83 0.00 0.00
I-A-2 2,477,198.00 7.00000% 2,477,198.00 14,450.32 0.00 0.00
I-A-3 13,800,000.00 6.65000% 13,800,000.00 76,475.00 0.00 0.00
I-A-4 74,503.00 0.00000% 74,503.00 0.00 0.00 0.00
I-A-5 1,477,199.00 6.50000% 1,477,199.00 8,001.49 0.00 0.00
I-A-6 500,000.00 8.00000% 500,000.00 3,333.33 0.00 0.00
I-A-7 500,000.00 8.00000% 500,000.00 3,333.33 0.00 0.00
I-AR 100.00 6.65000% 100.00 0.55 0.00 0.00
II-A-PO 44,937.44 0.00000% 44,937.44 0.00 0.00 0.00
II-A-1 125,899,700.00 7.00000% 125,899,700.00 734,414.92 0.00 0.00
II-A-2 6,626,300.00 0.00000% 6,626,300.00 0.00 0.00 0.00
B-1 4,337,000.00 6.65000% 4,337,000.00 24,034.21 0.00 0.00
B-2 10,409,000.00 6.65000% 10,409,000.00 57,683.21 0.00 0.00
B-3 2,313,000.00 6.65000% 2,313,000.00 12,817.88 0.00 0.00
B-4 1,300,000.00 6.65000% 1,300,000.00 7,204.17 0.00 0.00
B-5 578,000.00 6.65000% 578,000.00 3,203.08 0.00 0.00
B-6 1,307,294.09 6.65000% 1,307,294.09 7,244.59 0.00 0.00
Totals 289,181,281.46 1,603,341.91 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>
I-A-PO 0.00 0.00 0.00 0.00 36,984.12
I-A-1 0.00 0.00 651,145.83 0.00 116,261,128.84
I-A-2 0.00 0.00 14,450.32 0.00 2,477,198.00
I-A-3 0.00 0.00 76,475.00 0.00 13,800,000.00
I-A-4 0.00 0.00 0.00 0.00 74,503.00
I-A-5 0.00 0.00 8,001.49 0.00 1,477,199.00
I-A-6 0.00 0.00 3,333.33 0.00 500,000.00
I-A-7 0.00 0.00 3,333.33 0.00 500,000.00
I-AR 0.00 0.00 0.55 0.00 0.00
II-A-PO 0.00 0.00 0.00 0.00 44,831.61
II-A-1 0.00 0.00 734,414.92 0.00 124,704,120.80
II-A-2 0.00 0.00 0.00 0.00 6,563,374.78
B-1 0.00 0.00 24,034.21 0.00 4,333,212.81
B-2 0.00 0.00 57,683.21 0.00 10,399,910.57
B-3 0.00 0.00 12,817.88 0.00 2,310,980.22
B-4 0.00 0.00 7,204.17 0.00 1,298,864.80
B-5 0.00 0.00 3,203.08 0.00 577,495.27
B-6 0.00 0.00 7,244.59 0.00 1,306,152.53
Totals 0.00 0.00 1,603,341.91 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>
I-A-PO 37,049.93 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
I-A-1 117,500,000.00 6.65000% 1000.00000000 5.54166664 0.00000000 0.00000000
I-A-2 2,477,198.00 7.00000% 1000.00000000 5.83333266 0.00000000 0.00000000
I-A-3 13,800,000.00 6.65000% 1000.00000000 5.54166667 0.00000000 0.00000000
I-A-4 74,503.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
I-A-5 1,477,199.00 6.50000% 1000.00000000 5.41666356 0.00000000 0.00000000
I-A-6 500,000.00 8.00000% 1000.00000000 6.66666000 0.00000000 0.00000000
I-A-7 500,000.00 8.00000% 1000.00000000 6.66666000 0.00000000 0.00000000
I-AR 100.00 6.65000% 1000.00000000 5.50000000 0.00000000 0.00000000
II-A-PO 44,937.44 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
II-A-1 125,899,700.00 7.00000% 1000.00000000 5.83333336 0.00000000 0.00000000
II-A-2 6,626,300.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000
B-1 4,337,000.00 6.65000% 1000.00000000 5.54166705 0.00000000 0.00000000
B-2 10,409,000.00 6.65000% 1000.00000000 5.54166683 0.00000000 0.00000000
B-3 2,313,000.00 6.65000% 1000.00000000 5.54166883 0.00000000 0.00000000
B-4 1,300,000.00 6.65000% 1000.00000000 5.54166923 0.00000000 0.00000000
B-5 578,000.00 6.65000% 1000.00000000 5.54166090 0.00000000 0.00000000
B-6 1,307,294.09 6.65000% 1000.00000000 5.54166813 0.00000000 0.00000000
<FN>
(5) Per $1000 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>
I-A-PO 0.00000000 0.00000000 0.00000000 0.00000000 998.22374833
I-A-1 0.00000000 0.00000000 5.54166664 0.00000000 989.45641566
I-A-2 0.00000000 0.00000000 5.83333266 0.00000000 1000.00000000
I-A-3 0.00000000 0.00000000 5.54166667 0.00000000 1000.00000000
I-A-4 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000
I-A-5 0.00000000 0.00000000 5.41666356 0.00000000 1000.00000000
I-A-6 0.00000000 0.00000000 6.66666000 0.00000000 1000.00000000
I-A-7 0.00000000 0.00000000 6.66666000 0.00000000 1000.00000000
I-AR 0.00000000 0.00000000 5.50000000 0.00000000 0.00000000
II-A-PO 0.00000000 0.00000000 0.00000000 0.00000000 997.64494818
II-A-1 0.00000000 0.00000000 5.83333336 0.00000000 990.50371685
II-A-2 0.00000000 0.00000000 0.00000000 0.00000000 990.50371701
B-1 0.00000000 0.00000000 5.54166705 0.00000000 999.12677196
B-2 0.00000000 0.00000000 5.54166683 0.00000000 999.12677202
B-3 0.00000000 0.00000000 5.54166883 0.00000000 999.12677043
B-4 0.00000000 0.00000000 5.54166923 0.00000000 999.12676923
B-5 0.00000000 0.00000000 5.54166090 0.00000000 999.12676471
B-6 0.00000000 0.00000000 5.54166813 0.00000000 999.12677644
<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 4,170,179.84
Liquidations, Insurance Proceeds, Reserve Funds 1,250.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 10,569.67
Realized Losses 0.00
Total Deposits 4,181,999.51
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 63,678.95
Payment of Interest and Principal 4,118,320.56
Total Withdrawals (Pool Distribution Amount) 4,181,999.51
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 1,902.61
Servicing Fee Support 652.61
Non-Supported Prepayment/Curtailment Interest Shortfall 1,250.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 60,235.55
Master Servicing Fee 4,096.02
Supported Prepayment/Curtailment Interest Shortfall 652.61
Net Servicing Fee 63,678.95
</TABLE>
<TABLE>
<CAPTION>
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<S> <C> <C> <C> <C>
Reserve Fund 25,000.00 1,250.00 0.00 23,750.00
</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 2 423,866.82 0.117994% 0.147861%
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 2 423,866.82 0.117994% 0.147861%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 346.47
Cumulative Realized Losses - Includes Interest Shortfall 346.47
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 789,494.31
</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 20,244,294.09 7.00055480% 20,226,616.20 7.05581383% 92.942172% 0.000000%
Class B-1 15,907,294.09 5.50080351% 15,893,403.39 5.54422422% 1.512021% 21.423320%
Class B-2 5,498,294.09 1.90133126% 5,493,492.82 1.91633945% 3.628920% 51.416957%
Class B-3 3,185,294.09 1.10148695% 3,182,512.60 1.11018156% 0.806388% 11.425442%
Class B-4 1,885,294.09 0.65194195% 1,883,647.80 0.65708807% 0.453223% 6.421562%
Class B-5 1,307,294.09 0.45206733% 1,306,152.53 0.45563573% 0.201510% 2.855125%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.455766% 6.457593%
<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 275,000.00 0.09509606% 275,000.00 0.09593047%
Fraud 5,783,625.63 2.00000000% 5,783,625.63 2.01754882%
Special Hazard 2,891,812.81 1.00000000% 2,891,812.81 1.00877441%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Fixed 15 & 30 Year
Weighted Average Gross Coupon 7.724849%
Weighted Average Pass-Through Rate 6.650000%
Weighted Average Maturity(Stepdown Calculation ) 345
Begin Scheduled Collateral Loan Count 1,706
Number Of Loans Paid In Full 11
End Scheduled Collateral Loan Count 1,695
Begining Scheduled Collateral Balance 289,181,281.46
Ending Scheduled Collateral Balance 286,665,956.37
Ending Actual Collateral Balance at 30-Sep-1998 287,018,505.89
Ending Scheduled Balance For Norwest 156,318,319.67
Ending Scheduled Balance For Other Services 130,347,636.70
Monthly P & I Constant 1,920,417.97
Class A Optimal Amount 3,988,630.34
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 281,593,181.77
Ending scheduled Balance For discounted Loans 5,072,774.60
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 234,526,841.83
Greater Than 80%, less than or equal to 85% 3,246,560.44
Greater than 85%, less than or equal to 95% 48,974,431.82
Greater than 95% 0.00
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
</TABLE>
<TABLE>
<CAPTION>
Group Level Collateral Statement
<S> <C>
Group ID 1 2
Collateral Description Mixed ARM Mixed ARM
Weighted Average Coupon Rate 7.614296 7.838577
Weighted Average Net Rate 6.648322 6.647866
Weighted Average Maturity 347.00 342.00
Begining Loan Count 396.00 1,310.00
Loans Paid In Full 3.00 8.00
Ending Loan Count 393.00 1,302.00
Begining Scheduled Balance 146,631,056.00 142,550,226.00
Ending Scheduled Balance 145,383,248.58 141,282,707.79
Record Date 98-09-30 98-09-30
Principal And Interest Constant 970,933.86 949,484.11
Scheduled Principal 125,309.69 127,285.47
Unscheduled Principal 1,122,497.28 1,140,232.65
Scheduled Interest 844,889.23 821,249.46
Servicing Fee 30,544.10 29,691.45
Master Servicing Fee 2,077.00 2,019.02
FRY Amount 85,398.14 109,705.28
Net Interest 726,869.99 679,833.71
</TABLE>
<TABLE>
<CAPTION> Delinquency Status By Groups
<S> <C>
Groups 30 Days 60 Days 90 + Days
Number Balance Number Balance Number Balance
1 1 300,000.00 0 0.00 0 0.00 0
2 1 123,866.82 0 0.00 0 0.00 0
Total 2 $423,866.82 0 $0.00 0 $0.00 0
</TABLE>
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