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 1998-27 Trust
New York (governing law of 333-45021-28 PENDING
Pooling and Servicing Agreement) (Commission
(State or other File Number) IRS EIN
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 1998-27
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
1998-27 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 1998-27 Trust
By: Norwest Bank Minnesota, N.A., as Master Servicer
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 1/7/99
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1998-27 Trust, relating to the December
28, 1998 distribution.
<TABLE>
<CAPTION>
Norwest Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 11/30/98
Distribution Date: 12/28/98
NASCOR Series: 1998-27
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>
APO NMB9727PO PO 0.00000% 300,282.18 0.00 2,378.22
A-1 66937RBX6 SEQ 6.25000% 351,556,040.55 1,831,021.04 8,503,841.21
A-R 66937RBY4 R 6.25000% 0.00 0.00 0.00
B-1 66937RBZ1 SUB 6.25000% 3,492,823.51 18,191.79 11,270.36
B-2 66937RCA5 SUB 6.25000% 1,471,292.09 7,662.98 4,747.44
B-3 66937RCB3 SUB 6.25000% 1,102,472.26 5,742.04 3,557.37
B-4 66937RAW9 SUB 6.25000% 1,103,469.07 5,747.23 3,560.58
B-5 66937RAX7 SUB 6.25000% 551,236.13 2,871.02 1,778.68
B-6 66937RAY5 SUB 6.25000% 552,037.66 3,518.53 697.93
Totals 360,129,653.45 1,874,754.63 8,531,831.79
</TABLE>
<TABLE>
<CAPTION>
Certificateholder Distribution Summary (continued)
Current Ending Cumulative
Realized Certificate Total Realized
Class Loss Balance Distribution Losses
<S> <C> <C> <C> <C>
APO 0.00 297,903.96 2,378.22 0.00
A-1 0.00 343,052,199.34 10,334,862.25 0.00
A-R 0.00 0.00 0.00 0.00
B-1 0.00 3,481,553.15 29,462.15 0.00
B-2 0.00 1,466,544.65 12,410.42 0.00
B-3 0.00 1,098,914.89 9,299.41 0.00
B-4 0.00 1,099,908.49 9,307.81 0.00
B-5 0.00 549,457.45 4,649.70 0.00
B-6 1,083.34 550,256.39 4,216.46 2,849.77
Totals 1,083.34 351,596,738.32 10,406,586.42 2,849.77
<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>
APO 301,389.78 300,282.18 1,031.04 1,347.18 0.00 0.00
A-1 360,249,000.00 351,556,040.55 1,134,372.08 7,369,469.13 0.00 0.00
A-R 100.00 0.00 0.00 0.00 0.00 0.00
B-1 3,504,000.00 3,492,823.51 11,270.36 0.00 0.00 0.00
B-2 1,476,000.00 1,471,292.09 4,747.44 0.00 0.00 0.00
B-3 1,106,000.00 1,102,472.26 3,557.37 0.00 0.00 0.00
B-4 1,107,000.00 1,103,469.07 3,560.58 0.00 0.00 0.00
B-5 553,000.00 551,236.13 1,778.68 0.00 0.00 0.00
B-6 553,804.09 552,037.66 697.93 0.00 0.00 1,083.34
Totals 368,850,293.87 360,129,653.45 1,161,015.48 7,370,816.31 0.00 1,083.34
<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>
APO 2,378.22 297,903.96 0.98843418 2,378.22
A-1 8,503,841.21 343,052,199.34 0.95226413 8,503,841.21
A-R 0.00 0.00 0.00000000 0.00
B-1 11,270.36 3,481,553.15 0.99359394 11,270.36
B-2 4,747.44 1,466,544.65 0.99359394 4,747.44
B-3 3,557.37 1,098,914.89 0.99359393 3,557.37
B-4 3,560.58 1,099,908.49 0.99359394 3,560.58
B-5 1,778.68 549,457.45 0.99359394 1,778.68
B-6 1,781.27 550,256.39 0.99359394 697.93
Totals 8,532,915.13 351,596,738.32 0.95322342 8,531,831.79
</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>
APO 301,389.78 996.32502469 3.42095210 4.46989277 0.00000000
A-1 360,249,000.00 975.86958062 3.14885560 20.45659844 0.00000000
A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000
B-1 3,504,000.00 996.81036244 3.21642694 0.00000000 0.00000000
B-2 1,476,000.00 996.81035908 3.21642276 0.00000000 0.00000000
B-3 1,106,000.00 996.81036166 3.21642857 0.00000000 0.00000000
B-4 1,107,000.00 996.81036134 3.21642276 0.00000000 0.00000000
B-5 553,000.00 996.81036166 3.21641953 0.00000000 0.00000000
B-6 553,804.09 996.81037025 1.26024710 0.00000000 0.00000000
<FN>
(2)Per $1,000 Denomination, except Class A-R, which is Per $100 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>
APO 0.00000000 7.89084487 988.43417982 0.98843418 7.89084487
A-1 0.00000000 23.60545403 952.26412659 0.95226413 23.60545403
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 3.21642694 993.59393550 0.99359394 3.21642694
B-2 0.00000000 3.21642276 993.59393631 0.99359394 3.21642276
B-3 0.00000000 3.21642857 993.59393309 0.99359393 3.21642857
B-4 0.00000000 3.21642276 993.59393857 0.99359394 3.21642276
B-5 0.00000000 3.21641953 993.59394213 0.99359394 3.21641953
B-6 1.95617912 3.21642623 993.59394402 0.99359394 1.26024710
<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>
APO 301,389.78 0.00000% 300,282.18 0.00 0.00 0.00
A-1 360,249,000.00 6.25000% 351,556,040.55 1,831,021.04 0.00 0.00
A-R 100.00 6.25000% 0.00 0.00 0.00 0.00
B-1 3,504,000.00 6.25000% 3,492,823.51 18,191.79 0.00 0.00
B-2 1,476,000.00 6.25000% 1,471,292.09 7,662.98 0.00 0.00
B-3 1,106,000.00 6.25000% 1,102,472.26 5,742.04 0.00 0.00
B-4 1,107,000.00 6.25000% 1,103,469.07 5,747.23 0.00 0.00
B-5 553,000.00 6.25000% 551,236.13 2,871.02 0.00 0.00
B-6 553,804.09 6.25000% 552,037.66 2,875.20 643.33 0.00
Totals 368,850,293.87 1,874,111.30 643.33 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>
APO 0.00 0.00 0.00 0.00 297,903.96
A-1 0.00 0.00 1,831,021.04 0.00 343,052,199.34
A-R 0.00 0.00 0.00 0.00 0.00
B-1 0.00 0.00 18,191.79 0.00 3,481,553.15
B-2 0.00 0.00 7,662.98 0.00 1,466,544.65
B-3 0.00 0.00 5,742.04 0.00 1,098,914.89
B-4 0.00 0.00 5,747.23 0.00 1,099,908.49
B-5 0.00 0.00 2,871.02 0.00 549,457.45
B-6 0.00 0.00 3,518.53 0.00 550,256.39
Totals 0.00 0.00 1,874,754.63 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>
APO 301,389.78 0.00000% 996.32502469 0.00000000 0.00000000 0.00000000
A-1 360,249,000.00 6.25000% 975.86958062 5.08265405 0.00000000 0.00000000
A-R 100.00 6.25000% 0.00000000 0.00000000 0.00000000 0.00000000
B-1 3,504,000.00 6.25000% 996.81036244 5.19172089 0.00000000 0.00000000
B-2 1,476,000.00 6.25000% 996.81035908 5.19172087 0.00000000 0.00000000
B-3 1,106,000.00 6.25000% 996.81036166 5.19171790 0.00000000 0.00000000
B-4 1,107,000.00 6.25000% 996.81036134 5.19171635 0.00000000 0.00000000
B-5 553,000.00 6.25000% 996.81036166 5.19171790 0.00000000 0.00000000
B-6 553,804.09 6.25000% 996.81037025 5.19172764 1.16165628 0.00000000
<FN>
(5) Per $1,000 Denomination, except Class A-R, which is Per $100 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>
APO 0.00000000 0.00000000 0.00000000 0.00000000 988.43417982
A-1 0.00000000 0.00000000 5.08265405 0.00000000 952.26412659
A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
B-1 0.00000000 0.00000000 5.19172089 0.00000000 993.59393550
B-2 0.00000000 0.00000000 5.19172087 0.00000000 993.59393631
B-3 0.00000000 0.00000000 5.19171790 0.00000000 993.59393309
B-4 0.00000000 0.00000000 5.19171635 0.00000000 993.59393857
B-5 0.00000000 0.00000000 5.19171790 0.00000000 993.59394213
B-6 0.00000000 0.00000000 6.35338392 0.00000000 993.59394402
<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 19,126.29
Deposits
Payments of Interest and Principal 10,529,612.53
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 10,529,612.53
Withdrawals
Reimbursement for Servicer Advances 0.00
Payment of Service Fee 75,534.37
Payment of Interest and Principal 10,406,586.44
Total Withdrawals (Pool Distribution Amount) 10,482,120.81
Ending Balance 66,618.01
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 4,592.54
Servicing Fee Support 4,592.54
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 75,025.20
Master Servicing Fee 5,101.71
Supported Prepayment/Curtailment Interest Shortfall 4,592.54
Net Servicing Fee 75,534.38
</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 1,719,107.12 0.498504% 0.488943%
60 Days 1 257,469.68 0.099701% 0.073229%
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 1,976,576.80 0.598205% 0.562172%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 1,083.34
Cumulative Realized Losses - Includes Interest Shortfall 2,849.77
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 610,427.14
</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 8,299,804.09 2.25018232% 8,246,635.02 2.34548109% 97.652530% 100.000000%
Class B-1 4,795,804.09 1.30020341% 4,765,081.87 1.35526908% 0.991052% 0.000000%
Class B-2 3,319,804.09 0.90004106% 3,298,537.22 0.93815922% 0.417464% 0.000000%
Class B-3 2,213,804.09 0.60019041% 2,199,622.33 0.62560942% 0.312815% 0.000000%
Class B-4 1,106,804.09 0.30006865% 1,099,713.84 0.31277703% 0.313098% 0.000000%
Class B-5 553,804.09 0.15014332% 550,256.39 0.15650213% 0.156407% 0.000000%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.156635% 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 100,000.00 0.02711127% 100,000.00 0.02844167%
Fraud 7,377,005.88 2.00000000% 7,377,005.88 2.09814400%
Special Hazard 3,940,981.50 1.06845015% 3,940,981.50 1.12088113%
<FN>
Limit of Subordinate's Exposure to Certain Types of Losses
</FN>
</TABLE>
<TABLE>
<CAPTION>
COLLATERAL STATEMENT
<S> <C>
Collateral Description Fixed 15 Year
Weighted Average Gross Coupon 7.019552%
Weighted Average Pass-Through Rate 6.250000%
Weighted Average Maturity(Stepdown Calculation ) 176
Begin Scheduled Collateral Loan Count 1,020
Number Of Loans Paid In Full 17
End Scheduled Collateral Loan Count 1,003
Begining Scheduled Collateral Balance 360,129,653.46
Ending Scheduled Collateral Balance 351,596,738.32
Ending Actual Collateral Balance at 30-Nov-1998 355,175,503.47
Ending Scheduled Balance For Norwest 286,956,200.59
Ending Scheduled Balance For Other Services 64,640,537.73
Monthly P &I Constant 3,138,734.84
Class A Optimal Amount 10,334,862.25
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 336,845,302.15
Ending scheduled Balance For discounted Loans 14,751,436.17
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 339,976,028.38
Greater Than 80%, less than or equal to 85% 3,502,057.87
Greater than 85%, less than or equal to 95% 8,299,562.02
Greater than 95% 0.00
</TABLE>
<TABLE>
<CAPTION>
<S> <C>
</TABLE>
