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Previous: NORWEST ASSET SEC CORP MORT PASS THR CERT SER 1998 24 TRUST, 8-K, 1998-12-04 |
Next: OCWEN MORTGAGE LOAN ASSET BACKED CERT SERIES 1998-OFS3, 8-K, 1998-12-04 |
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 INTEGRATED STRUCTURED ASSETS, INC.
Mortgage Asset Backed Pass-Through Certificates, Series 1998-2 Trust
New York (governing law of 333-17801-02 52-2128253
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 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 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 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: 11/30/1998
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 November 25, 1998 distribution.
<TABLE>
<CAPTION>
Norwest Integrated Structured Assets, inc.
Mortgage Asset Backed Pass-Through Certificates
Record Date: 10/30/1998
Distribution Date: 11/25/1998
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% 36,984.12 0.00 66.81
I-A-1 66938DAS8 SEQ 6.65000% 116,261,128.84 644,280.42 1,511,069.86
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% 0.00 0.00 0.00
II-A-PO NIS982PO2 PO 0.00000% 44,831.61 0.00 93.99
II-A-1 66938DBA6 SEQ 7.00000% 124,704,120.80 727,440.70 983,509.58
II-A-2 66938DBB4 SEQ 0.00000% 6,563,374.78 0.00 51,763.66
B-1 66938DBC2 SUB 6.65000% 4,333,212.81 24,013.22 3,834.49
B-2 66938DBD0 SUB 6.65000% 10,399,910.57 57,632.84 9,202.94
B-3 66938DBE8 SUB 6.65000% 2,310,980.22 12,806.68 2,045.00
B-4 66938DBF5 SUB 6.65000% 1,298,864.80 7,197.88 1,149.37
B-5 66938DBG3 SUB 6.65000% 577,495.27 3,200.29 511.03
B-6 66938DBH1 SUB 6.65000% 1,306,152.53 7,238.26 1,087.66
Totals 286,665,956.35 1,589,403.76 2,564,334.39
</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 36,917.31 66.81 0.00
I-A-1 0.00 114,750,058.98 2,155,350.28 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 0.00 0.00
II-A-PO 0.00 44,737.63 93.99 0.00
II-A-1 0.00 123,720,611.23 1,710,950.28 0.00
II-A-2 0.00 6,511,611.12 51,763.66 0.00
B-1 0.00 4,329,378.33 27,847.71 0.00
B-2 0.00 10,390,707.63 66,835.78 0.00
B-3 0.00 2,308,935.22 14,851.68 0.00
B-4 0.00 1,297,715.43 8,347.25 0.00
B-5 0.00 576,984.25 3,711.32 0.00
B-6 68.16 1,304,996.70 8,325.92 414.63
Totals 68.16 284,101,553.83 4,153,738.15 414.63
<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 36,984.12 66.19 0.62 0.00 0.00
I-A-1 117,500,000.00 116,261,128.84 116,357.58 1,394,712.28 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 0.00 0.00 0.00 0.00 0.00
II-A-PO 44,937.44 44,831.61 80.57 13.42 0.00 0.00
II-A-1 125,899,700.00 124,704,120.80 113,375.31 870,134.27 0.00 0.00
II-A-2 6,626,300.00 6,563,374.78 5,967.12 45,796.54 0.00 0.00
B-1 4,337,000.00 4,333,212.81 3,834.49 0.00 0.00 0.00
B-2 10,409,000.00 10,399,910.57 9,202.94 0.00 0.00 0.00
B-3 2,313,000.00 2,310,980.22 2,045.00 0.00 0.00 0.00
B-4 1,300,000.00 1,298,864.80 1,149.37 0.00 0.00 0.00
B-5 578,000.00 577,495.27 511.03 0.00 0.00 0.00
B-6 1,307,294.09 1,306,152.53 1,087.66 0.00 0.00 68.16
Totals 289,181,281.46 286,665,956.35 253,677.26 2,310,657.13 0.00 68.16
<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 66.81 36,917.31 0.99642051 66.81
I-A-1 1,511,069.86 114,750,058.98 0.97659625 1,511,069.86
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 0.00 0.00 0.00000000 0.00
II-A-PO 93.99 44,737.63 0.99555360 93.99
II-A-1 983,509.58 123,720,611.23 0.98269187 983,509.58
II-A-2 51,763.66 6,511,611.12 0.98269187 51,763.66
B-1 3,834.49 4,329,378.33 0.99824264 3,834.49
B-2 9,202.94 10,390,707.63 0.99824264 9,202.94
B-3 2,045.00 2,308,935.22 0.99824264 2,045.00
B-4 1,149.37 1,297,715.43 0.99824264 1,149.37
B-5 511.03 576,984.25 0.99824265 511.03
B-6 1,155.82 1,304,996.70 0.99824264 1,087.66
Totals 2,564,402.55 284,101,553.83 0.98243411 2,564,334.39
</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 37,049.93 998.22374833 1.78650810 0.01673417 0.00000000
I-A-1 117,500,000.00 989.45641566 0.99027728 11.86989174 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 0.00000000 0.00000000 0.00000000 0.00000000
II-A-PO 44,937.44 997.64494818 1.79293703 0.29863739 0.00000000
II-A-1 125,899,700.00 990.50371685 0.90052089 6.91132918 0.00000000
II-A-2 6,626,300.00 990.50371701 0.90052065 6.91132910 0.00000000
B-1 4,337,000.00 999.12677196 0.88413419 0.00000000 0.00000000
B-2 10,409,000.00 999.12677202 0.88413296 0.00000000 0.00000000
B-3 2,313,000.00 999.12677043 0.88413316 0.00000000 0.00000000
B-4 1,300,000.00 999.12676923 0.88413077 0.00000000 0.00000000
B-5 578,000.00 999.12676471 0.88413495 0.00000000 0.00000000
B-6 1,307,294.09 999.12677644 0.83199336 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 1.80324227 996.42050606 0.99642051 1.80324227
I-A-1 0.00000000 12.86016902 976.59624664 0.97659625 12.86016902
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 0.00000000 0.00000000 0.00000000 0.00000000
II-A-PO 0.00000000 2.09157442 995.55359629 0.99555360 2.09157442
II-A-1 0.00000000 7.81185007 982.69186686 0.98269187 7.81185007
II-A-2 0.00000000 7.81184975 982.69186726 0.98269187 7.81184975
B-1 0.00000000 0.88413419 998.24264007 0.99824264 0.88413419
B-2 0.00000000 0.88413296 998.24263906 0.99824264 0.88413296
B-3 0.00000000 0.88413316 998.24263727 0.99824264 0.88413316
B-4 0.00000000 0.88413077 998.24263846 0.99824264 0.88413077
B-5 0.00000000 0.88413495 998.24264706 0.99824265 0.88413495
B-6 0.05213823 0.88413159 998.24263720 0.99824264 0.83199336
<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% 36,984.12 0.00 0.00 0.00
I-A-1 117,500,000.00 6.65000% 116,261,128.84 644,280.42 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% 0.00 0.00 0.00 0.00
II-A-PO 44,937.44 0.00000% 44,831.61 0.00 0.00 0.00
II-A-1 125,899,700.00 7.00000% 124,704,120.80 727,440.70 0.00 0.00
II-A-2 6,626,300.00 0.00000% 6,563,374.78 0.00 0.00 0.00
B-1 4,337,000.00 6.65000% 4,333,212.81 24,013.22 0.00 0.00
B-2 10,409,000.00 6.65000% 10,399,910.57 57,632.84 0.00 0.00
B-3 2,313,000.00 6.65000% 2,310,980.22 12,806.68 0.00 0.00
B-4 1,300,000.00 6.65000% 1,298,864.80 7,197.88 0.00 0.00
B-5 578,000.00 6.65000% 577,495.27 3,200.29 0.00 0.00
B-6 1,307,294.09 6.65000% 1,306,152.53 7,238.26 0.00 0.00
Totals 289,181,281.46 1,589,403.76 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 36,917.31
I-A-1 0.00 0.00 644,280.42 0.00 114,750,058.98
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 0.00 0.00 0.00
II-A-PO 0.00 0.00 0.00 0.00 44,737.63
II-A-1 0.00 0.00 727,440.70 0.00 123,720,611.23
II-A-2 0.00 0.00 0.00 0.00 6,511,611.12
B-1 0.00 0.00 24,013.22 0.00 4,329,378.33
B-2 0.00 0.00 57,632.84 0.00 10,390,707.63
B-3 0.00 0.00 12,806.68 0.00 2,308,935.22
B-4 0.00 0.00 7,197.88 0.00 1,297,715.43
B-5 0.00 0.00 3,200.29 0.00 576,984.25
B-6 0.00 0.00 7,238.26 0.00 1,304,996.70
Totals 0.00 0.00 1,589,403.76 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% 998.22374833 0.00000000 0.00000000 0.00000000
I-A-1 117,500,000.00 6.65000% 989.45641566 5.48323762 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% 0.00000000 0.00000000 0.00000000 0.00000000
II-A-PO 44,937.44 0.00000% 997.64494818 0.00000000 0.00000000 0.00000000
II-A-1 125,899,700.00 7.00000% 990.50371685 5.77793831 0.00000000 0.00000000
II-A-2 6,626,300.00 0.00000% 990.50371701 0.00000000 0.00000000 0.00000000
B-1 4,337,000.00 6.65000% 999.12677196 5.53682730 0.00000000 0.00000000
B-2 10,409,000.00 6.65000% 999.12677202 5.53682775 0.00000000 0.00000000
B-3 2,313,000.00 6.65000% 999.12677043 5.53682663 0.00000000 0.00000000
B-4 1,300,000.00 6.65000% 999.12676923 5.53683077 0.00000000 0.00000000
B-5 578,000.00 6.65000% 999.12676471 5.53683391 0.00000000 0.00000000
B-6 1,307,294.09 6.65000% 999.12677644 5.53682607 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 996.42050606
I-A-1 0.00000000 0.00000000 5.48323762 0.00000000 976.59624664
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 0.00000000 0.00000000 0.00000000
II-A-PO 0.00000000 0.00000000 0.00000000 0.00000000 995.55359629
II-A-1 0.00000000 0.00000000 5.77793831 0.00000000 982.69186686
II-A-2 0.00000000 0.00000000 0.00000000 0.00000000 982.69186726
B-1 0.00000000 0.00000000 5.53682730 0.00000000 998.24264007
B-2 0.00000000 0.00000000 5.53682775 0.00000000 998.24263906
B-3 0.00000000 0.00000000 5.53682663 0.00000000 998.24263727
B-4 0.00000000 0.00000000 5.53683077 0.00000000 998.24263846
B-5 0.00000000 0.00000000 5.53683391 0.00000000 998.24264706
B-6 0.00000000 0.00000000 5.53682607 0.00000000 998.24263720
<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 4,226,991.22
Liquidations, Insurance Proceeds, Reserve Funds 1,250.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 0.00
Realized Losses 0.00
Total Deposits 4,228,241.22
Withdrawals
Reimbursement for Servicer Advances 10,569.67
Payment of Service Fee 61,938.90
Payment of Interest and Principal 4,153,738.15
Total Withdrawals (Pool Distribution Amount) 4,226,246.72
Ending Balance 1,994.50
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 1,843.99
Servicing Fee Support 1,843.99
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 59,721.81
Master Servicing Fee 4,061.08
Supported Prepayment/Curtailment Interest Shortfall 1,843.99
Net Servicing Fee 61,938.90
</TABLE>
<TABLE>
<CAPTION>
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<S> <C> <C> <C> <C>
Reserve Fund 23,750.00 0.00 0.00 22,500.00
</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 12 1,457,642.86 0.711744% 0.513071%
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 12 1,457,642.86 0.711744% 0.513071%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 68.16
Cumulative Realized Losses - Includes Interest Shortfall 414.63
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 741,251.06
</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% 20,208,717.56 7.11320205% 92.884753% 0.000000%
Class B-1 15,907,294.09 5.50080351% 15,879,339.23 5.58931798% 1.524322% 21.423320%
Class B-2 5,498,294.09 1.90133126% 5,488,631.60 1.93192594% 3.658444% 51.416957%
Class B-3 3,185,294.09 1.10148695% 3,179,696.38 1.11921119% 0.812948% 11.425442%
Class B-4 1,885,294.09 0.65194195% 1,881,980.95 0.66243247% 0.456910% 6.421563%
Class B-5 1,307,294.09 0.45206733% 1,304,996.70 0.45934163% 0.203149% 2.855126%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.459474% 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 0.09679637%
Fraud 5,783,625.63 2.00000000% 5,783,625.63 2.03575994%
Special Hazard 2,891,812.81 1.00000000% 2,891,812.81 1.01787997%
<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 7.722769%
Weighted Average Pass-Through Rate 6.650000%
Weighted Average Maturity(Stepdown Calculation ) 344
Begin Scheduled Collateral Loan Count 1,695
Number Of Loans Paid In Full 9
End Scheduled Collateral Loan Count 1,686
Begining Scheduled Collateral Balance 286,665,956.37
Ending Scheduled Collateral Balance 284,101,553.82
Ending Actual Collateral Balance at 30-Oct-1998 284,420,535.26
Ending Scheduled Balance For Norwest 155,024,324.75
Ending Scheduled Balance For Other Services 129,077,229.07
Monthly P &I Constant 1,907,048.10
Class A Optimal Amount 4,023,657.69
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 279,039,525.45
Ending scheduled Balance For discounted Loans 5,062,028.37
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 232,530,558.64
Greater Than 80%, less than or equal to 85% 3,243,613.09
Greater than 85%, less than or equal to 95% 48,403,915.14
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 7.611017 7.837765
Weighted Average Net Rate 6.648309 6.647910
Weighted Average Maturity 346.00 341.00
Beginning Loan Count 393 1,302
Loans Paid In Full 2 7
Ending Loan Count 391 1,295
Beginning Scheduled Balance 145,383,248.58 141,282,707.79
Ending scheduled Balance 143,863,277.87 140,238,275.95
Record Date 10/30/1998 10/30/1998
Principal And Interest Constant 964,010.01 943,038.08
Scheduled Principal 125,257.81 128,487.61
Unscheduled Principal 1,394,712.90 915,944.23
Scheduled Interest 837,808.37 814,123.59
Servicing Fees 30,288.18 29,433.63
Master Servicing Fees 2,059.60 2,001.49
Trustee Fee 0.00 0.00
FRY Amount 84,287.00 108,651.98
Special Hazard Fee 0.00 0.00
Other Fee 0.00 0.00
Pool Insurance Fee 0.00 0.00
Spread Fee 1 0.00 0.00
Spread Fee 2 0.00 0.00
Spread Fee 3 0.00 0.00
Net Interest 721,173.60 674,036.49
Realized Loss Amount 0.00 0.00
Cumulative Realized Loss 0.00 0.00
</TABLE>
<TABLE>
<CAPTION> Delinquency Status By Groups
<S> <C> <C> <C> <C> <C> <C>
Group
30 Days 60 Days 90 + Days Foreclosure REO Bankruptc
1 Principal Balance 299,392.07 0.00 0.00 0.00 0.00 0.00
Percentage Of Balanc 0.208% 0.000% 0.000% 0.000% 0.000% 0.000%
Loan Count 1 0 0 0 0 0
Percentage Of Loans 0.256% 0.000% 0.000% 0.000% 0.000% 0.000%
2 Principal Balance 1,158,250.79 0.00 0.00 0.00 0.00 0.00
Percentage Of Balanc 0.826% 0.000% 0.000% 0.000% 0.000% 0.000%
Loan Count 11 0 0 0 0 0
Percentage Of Loans 0.849% 0.000% 0.000% 0.000% 0.000% 0.000%
</TABLE>
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