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Previous: HEADLANDS MORTGAGE PASS THROUGH CERTIFICATES SERIES 1998-2, 424B5, 1999-01-25 |
Next: UACSC 1998-D AUTO TRUST, 8-K, 1999-01-25 |
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 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, MD (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 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
Monthly Asset Backed report distributed to holders of
EX-99.1 Mortgage Pass-Through Certificates, Series
1998-2 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 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: 1/11/99
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 December 28,
1998 distribution.
<TABLE>
<CAPTION>
Norwest Integrated Structured Assets, inc.
Mortgage Pass-Through Certificates
Record Date: 11/30/98
Distribution Date: 12/28/98
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% 36,917.31 0.00 69.08
I-A-1 66938DAS8 SEQ 6.65000% 114,750,058.98 635,906.58 2,631,395.25
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% 44,737.63 0.00 94.41
II-A-1 66938DBA6 SEQ 7.00000% 123,720,611.23 721,703.57 921,050.74
II-A-2 66938DBB4 SEQ 0.00000% 6,511,611.12 0.00 48,476.35
B-1 66938DBC2 SUB 6.65000% 4,329,378.33 23,991.97 3,864.69
B-2 66938DBD0 SUB 6.65000% 10,390,707.63 57,581.84 9,275.44
B-3 66938DBE8 SUB 6.65000% 2,308,935.22 12,795.35 2,061.11
B-4 66938DBF5 SUB 6.65000% 1,297,715.43 7,191.51 1,158.43
B-5 66938DBG3 SUB 6.65000% 576,984.25 3,197.45 515.05
B-6 66938DBH1 SUB 6.65000% 1,304,996.70 7,231.86 1,070.01
Totals 284,101,553.83 1,575,193.60 3,619,030.56
</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 36,848.23 69.08 0.00
I-A-1 0.00 112,118,663.73 3,267,301.83 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 44,643.22 94.41 0.00
II-A-1 0.00 122,799,560.49 1,642,754.31 0.00
II-A-2 0.00 6,463,134.76 48,476.35 0.00
B-1 0.00 4,325,513.63 27,856.66 0.00
B-2 0.00 10,381,432.19 66,857.28 0.00
B-3 0.00 2,306,874.11 14,856.46 0.00
B-4 0.00 1,296,557.00 8,349.94 0.00
B-5 0.00 576,469.19 3,712.50 0.00
B-6 94.92 1,303,831.78 8,301.87 509.55
Totals 94.92 280,482,428.33 5,194,224.16 509.55
<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 36,917.31 66.57 2.51 0.00 0.00
I-A-1 117,500,000.00 114,750,058.98 115,395.35 2,515,999.90 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 44,737.63 81.08 13.32 0.00 0.00
II-A-1 125,899,700.00 123,720,611.23 114,105.85 806,944.89 0.00 0.00
II-A-2 6,626,300.00 6,511,611.12 6,005.57 42,470.78 0.00 0.00
B-1 4,337,000.00 4,329,378.33 3,864.69 0.00 0.00 0.00
B-2 10,409,000.00 10,390,707.63 9,275.44 0.00 0.00 0.00
B-3 2,313,000.00 2,308,935.22 2,061.11 0.00 0.00 0.00
B-4 1,300,000.00 1,297,715.43 1,158.43 0.00 0.00 0.00
B-5 578,000.00 576,984.25 515.05 0.00 0.00 0.00
B-6 1,307,294.09 1,304,996.70 1,070.01 0.00 0.00 94.92
Totals 289,181,281.46 284,101,553.83 253,599.15 3,365,431.40 0.00 94.92
<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 69.08 36,848.23 0.99455600 69.08
I-A-1 2,631,395.25 112,118,663.73 0.95420139 2,631,395.25
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 94.41 44,643.22 0.99345268 94.41
II-A-1 921,050.74 122,799,560.49 0.97537612 921,050.74
II-A-2 48,476.35 6,463,134.76 0.97537612 48,476.35
B-1 3,864.69 4,325,513.63 0.99735154 3,864.69
B-2 9,275.44 10,381,432.19 0.99735154 9,275.44
B-3 2,061.11 2,306,874.11 0.99735154 2,061.11
B-4 1,158.43 1,296,557.00 0.99735154 1,158.43
B-5 515.05 576,469.19 0.99735154 515.05
B-6 1,164.93 1,303,831.78 0.99735154 1,070.01
Totals 3,619,125.48 280,482,428.33 0.96991903 3,619,030.56
</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 37,049.93 996.42050606 1.79676453 0.06774642 0.00000000
I-A-1 117,500,000.00 976.59624664 0.98208809 21.41276511 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 44,937.44 995.55359629 1.80428614 0.29641208 0.00000000
II-A-1 125,899,700.00 982.69186686 0.90632345 6.40942663 0.00000000
II-A-2 6,626,300.00 982.69186726 0.90632329 6.40942607 0.00000000
B-1 4,337,000.00 998.24264007 0.89109753 0.00000000 0.00000000
B-2 10,409,000.00 998.24263906 0.89109809 0.00000000 0.00000000
B-3 2,313,000.00 998.24263727 0.89109814 0.00000000 0.00000000
B-4 1,300,000.00 998.24263846 0.89110000 0.00000000 0.00000000
B-5 578,000.00 998.24264706 0.89108997 0.00000000 0.00000000
B-6 1,307,294.09 998.24263720 0.81849219 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 1.86451095 994.55599511 0.99455600 1.86451095
I-A-1 0.00000000 22.39485319 954.20139345 0.95420139 22.39485319
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 2.10092075 993.45267554 0.99345268 2.10092075
II-A-1 0.00000000 7.31575008 975.37611678 0.97537612 7.31575008
II-A-2 0.00000000 7.31574936 975.37611638 0.97537612 7.31574936
B-1 0.00000000 0.89109753 997.35154024 0.99735154 0.89109753
B-2 0.00000000 0.89109809 997.35154097 0.99735154 0.89109809
B-3 0.00000000 0.89109814 997.35153913 0.99735154 0.89109814
B-4 0.00000000 0.89110000 997.35153846 0.99735154 0.89110000
B-5 0.00000000 0.89108997 997.35153979 0.99735154 0.89108997
B-6 0.07260799 0.89110018 997.35154467 0.99735154 0.81849219
<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% 36,917.31 0.00 0.00 0.00
I-A-1 117,500,000.00 6.65000% 114,750,058.98 635,906.58 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% 44,737.63 0.00 0.00 0.00
II-A-1 125,899,700.00 7.00000% 123,720,611.23 721,703.57 0.00 0.00
II-A-2 6,626,300.00 0.00000% 6,511,611.12 0.00 0.00 0.00
B-1 4,337,000.00 6.65000% 4,329,378.33 23,991.97 0.00 0.00
B-2 10,409,000.00 6.65000% 10,390,707.63 57,581.84 0.00 0.00
B-3 2,313,000.00 6.65000% 2,308,935.22 12,795.35 0.00 0.00
B-4 1,300,000.00 6.65000% 1,297,715.43 7,191.51 0.00 0.00
B-5 578,000.00 6.65000% 576,984.25 3,197.45 0.00 0.00
B-6 1,307,294.09 6.65000% 1,304,996.70 7,231.86 0.00 0.00
Totals 289,181,281.46 1,575,193.60 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 36,848.23
I-A-1 0.00 0.00 635,906.58 0.00 112,118,663.73
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 44,643.22
II-A-1 0.00 0.00 721,703.57 0.00 122,799,560.49
II-A-2 0.00 0.00 0.00 0.00 6,463,134.76
B-1 0.00 0.00 23,991.97 0.00 4,325,513.63
B-2 0.00 0.00 57,581.84 0.00 10,381,432.19
B-3 0.00 0.00 12,795.35 0.00 2,306,874.11
B-4 0.00 0.00 7,191.51 0.00 1,296,557.00
B-5 0.00 0.00 3,197.45 0.00 576,469.19
B-6 0.00 0.00 7,231.86 0.00 1,303,831.78
Totals 0.00 0.00 1,575,193.60 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% 996.42050606 0.00000000 0.00000000 0.00000000
I-A-1 117,500,000.00 6.65000% 976.59624664 5.41197089 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% 995.55359629 0.00000000 0.00000000 0.00000000
II-A-1 125,899,700.00 7.00000% 982.69186686 5.73236926 0.00000000 0.00000000
II-A-2 6,626,300.00 0.00000% 982.69186726 0.00000000 0.00000000 0.00000000
B-1 4,337,000.00 6.65000% 998.24264007 5.53192760 0.00000000 0.00000000
B-2 10,409,000.00 6.65000% 998.24263906 5.53192814 0.00000000 0.00000000
B-3 2,313,000.00 6.65000% 998.24263727 5.53192823 0.00000000 0.00000000
B-4 1,300,000.00 6.65000% 998.24263846 5.53193077 0.00000000 0.00000000
B-5 578,000.00 6.65000% 998.24264706 5.53192042 0.00000000 0.00000000
B-6 1,307,294.09 6.65000% 998.24263720 5.53193046 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 994.55599511
I-A-1 0.00000000 0.00000000 5.41197089 0.00000000 954.20139345
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 993.45267554
II-A-1 0.00000000 0.00000000 5.73236926 0.00000000 975.37611678
II-A-2 0.00000000 0.00000000 0.00000000 0.00000000 975.37611638
B-1 0.00000000 0.00000000 5.53192760 0.00000000 997.35154024
B-2 0.00000000 0.00000000 5.53192814 0.00000000 997.35154097
B-3 0.00000000 0.00000000 5.53192823 0.00000000 997.35153913
B-4 0.00000000 0.00000000 5.53193077 0.00000000 997.35153846
B-5 0.00000000 0.00000000 5.53192042 0.00000000 997.35153979
B-6 0.00000000 0.00000000 5.53193046 0.00000000 997.35154467
<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 1,994.50
Deposits
Payments of Interest and Principal 5,277,616.01
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 5,278,866.01
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 62,825.24
Payment of Interest and Principal 5,194,224.17
Total Withdrawals (Pool Distribution Amount) 5,257,049.41
Ending Balance 23,811.10
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 385.87
Servicing Fee Support 385.87
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 59,186.43
Master Servicing Fee 4,024.68
Supported Prepayment/Curtailment Interest Shortfall 385.87
Net Servicing Fee 62,825.24
</TABLE>
<TABLE>
<CAPTION>
OTHER ACCOUNTS
Beginning Current Current Ending
Account Type Balance Withdrawals Deposits Balance
<S> <C> <C> <C> <C>
Reserve Fund 22,500.00 0.00 0.00 21,250.00
</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 7 908,996.29 0.418911% 0.324083%
60 Days 4 536,682.93 0.239378% 0.191343%
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 11 1,445,679.22 0.658288% 0.515426%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 94.92
Cumulative Realized Losses - Includes Interest Shortfall 509.55
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 741,117.64
</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% 20,190,677.90 7.19855358% 92.799354% 0.000000%
Class B-1 15,907,294.09 5.50080351% 15,865,164.27 5.65638438% 1.542617% 21.423320%
Class B-2 5,498,294.09 1.90133126% 5,483,732.08 1.95510717% 3.702353% 51.416957%
Class B-3 3,185,294.09 1.10148695% 3,176,857.97 1.13264064% 0.822706% 11.425442%
Class B-4 1,885,294.09 0.65194195% 1,880,300.97 0.67038102% 0.462394% 6.421562%
Class B-5 1,307,294.09 0.45206733% 1,303,831.78 0.46485328% 0.205587% 2.855125%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.464988% 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 0.09804536%
Fraud 5,783,625.63 2.00000000% 5,783,625.63 2.06202779%
Special Hazard 2,891,812.81 1.00000000% 2,891,812.81 1.03101390%
<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 7.719683%
Weighted Average Pass-Through Rate 6.650000%
Weighted Average Maturity(Stepdown Calculation ) 343
Begin Scheduled Collateral Loan Count 1,686
Number Of Loans Paid In Full 15
End Scheduled Collateral Loan Count 1,671
Begining Scheduled Collateral Balance 284,101,553.82
Ending Scheduled Collateral Balance 280,482,428.34
Ending Actual Collateral Balance at 30-Nov-1998 281,197,245.41
Ending Scheduled Balance For Norwest 153,432,109.33
Ending Scheduled Balance For Other Services 127,050,319.01
Monthly P &I Constant 1,894,317.19
Class A Optimal Amount 5,064,125.96
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 275,431,503.45
Ending scheduled Balance For discounted Loans 5,050,924.89
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 229,939,592.94
Greater Than 80%, less than or equal to 85% 3,025,214.72
Greater than 85%, less than or equal to 95% 47,595,901.44
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 7.606958 7.835327
Weighted Average Net Rate 6.648294 6.647892
Weighted Average Maturity 345.00 340.00
Beginning Loan Count 391 1,295
Loans Paid In Full 7 8
Ending Loan Count 384 1,287
Beginning Scheduled Balance 143,863,277.87 140,238,275.95
Ending scheduled Balance 141,222,961.08 139,259,467.26
Record Date 11/30/98 11/30/98
Principal And Interest Constant 955,193.65 939,123.54
Scheduled Principal 124,314.38 129,379.69
Unscheduled Principal 2,516,002.41 849,429.00
Scheduled Interest 829,044.26 808,074.96
Servicing Fees 29,971.41 29,215.03
Master Servicing Fees 2,038.06 1,986.62
Trustee Fee 0.00 0.00
FRY Amount 82,920.56 107,562.12
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 714,114.24 669,311.20
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 Bankruptcy
1 Principal Balance 248,449.33 299,392.07 0.00 0.00 0.00 0.00
Percentage Of Balance 0.176% 0.212% 0.000% 0.000% 0.000% 0.000%
Loan Count 1 1 0 0 0 0
Percentage Of Loans 0.260% 0.260% 0.000% 0.000% 0.000% 0.000%
2 Principal Balance 660,546.96 237,290.86 0.00 0.00 0.00 0.00
Percentage Of Balance 0.474% 0.170% 0.000% 0.000% 0.000% 0.000%
Loan Count 6 3 0 0 0 0
Percentage Of Loans 0.466% 0.233% 0.000% 0.000% 0.000% 0.000%
</TABLE>
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