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Previous: HENDERSON FUND MANAGEMENT PLC, 13F-HR, 1999-06-04 |
Next: NORWEST ASSET SEC CORP MORT PASS THR CERT SER 1999 2 TRUST, 8-K, 1999-06-04 |
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): May 25, 1999
NORWEST ASSET SECURITIES CORPORATION
Mortgage Pass-Through Certificates, Series 1999-1 Trust
New York (governing law of 333-65481-04 52-2159820
Pooling and Servicing Agreement) (Commission 52-2159830
(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 May 25, 1999 a distribution was made to holders of NORWEST ASSET
SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 1999-1
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
1999-1 Trust, relating to the May 25, 1999
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 1999-1 Trust
By: Norwest Bank Minnesota, N.A., as Master Servicer
By: /s/ Sherri J. Sharps, Vice President
By: Sherri J. Sharps, Vice President
Date: 6/3/99
INDEX TO EXHIBITS
Exhibit Number Description
EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through
Certificates, Series 1999-1 Trust, relating to the May 25,
1999 distribution.
<TABLE>
<CAPTION>
Norwest Asset Securities Corporation
Mortgage Pass-Through Certificates
Record Date: 4/30/99
Distribution Date: 5/25/99
NASCOR Series: 1999-1
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 NMB9901PO PO 0.00000% 238,614.47 0.00 229.96
A-1 66937RKX6 PAC 5.75000% 107,988,000.00 517,442.50 0.00
A-2 66937RKY4 PAC 5.90000% 104,531,000.00 513,944.08 0.00
A-3 66937RKZ1 SEQ 6.10000% 48,420,806.64 246,139.10 652,583.39
A-4 66937RLA5 SEQ 6.10000% 105,206,824.29 534,801.36 1,443,514.46
A-5 66937RLB3 SEQ 6.10000% 1,900,000.00 9,658.33 0.00
A-6 66937RLC1 COMP 6.50000% 81,032,044.45 610,524.12 -331,488.59
A-7 66937RLD9 SEQ 6.50000% 1,864,115.64 10,097.29 1,864,115.64
A-8 66937RLE7 SEQ 6.50000% 10,606,505.24 57,451.90 865,417.73
A-9 66937RLF4 SEQ 6.50000% 4,853,458.01 26,289.56 47,258.51
A-R 66937RLG2 R 6.50000% 100.00 0.54 0.00
A-LR 66937RLH0 R 6.50000% 100.00 0.54 0.00
B-1 66937RLJ6 SUB 6.50000% 6,986,051.44 37,841.11 5,759.83
B-2 66937RLK3 SUB 6.50000% 6,736,656.49 36,490.22 5,554.21
B-3 66937RLL1 SUB 6.50000% 2,245,552.16 12,163.41 1,851.40
B-4 66937RLR8 SUB 6.50000% 1,496,369.72 8,105.34 1,233.72
B-5 66937RLS6 SUB 6.50000% 997,579.81 5,403.56 822.48
B-6 66937RLT4 SUB 6.50000% 1,000,255.24 5,418.05 726.28
Totals 486,104,033.60 2,631,771.01 4,557,579.02
</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 0.00 238,384.51 229.96 0.00
A-1 0.00 107,988,000.00 517,442.50 0.00
A-2 0.00 104,531,000.00 513,944.08 0.00
A-3 0.00 47,768,223.25 898,722.49 0.00
A-4 0.00 103,763,309.83 1,978,315.82 0.00
A-5 0.00 1,900,000.00 9,658.33 0.00
A-6 0.00 81,363,533.05 279,035.53 0.00
A-7 0.00 0.00 1,874,212.93 0.00
A-8 0.00 9,741,087.51 922,869.63 0.00
A-9 0.00 4,806,199.50 73,548.07 0.00
A-R 0.00 100.00 0.54 0.00
A-LR 0.00 100.00 0.54 0.00
B-1 0.00 6,980,291.61 43,600.94 0.00
B-2 0.00 6,731,102.27 42,044.43 0.00
B-3 0.00 2,243,700.76 14,014.81 0.00
B-4 0.00 1,495,136.00 9,339.06 0.00
B-5 0.00 996,757.33 6,226.04 0.00
B-6 98.41 999,430.56 6,144.33 521.55
Totals 98.41 481,546,356.18 7,189,350.03 521.55
<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>
APO 239,302.50 238,614.47 222.18 7.78 0.00 0.00
A-1 107,988,000.00 107,988,000.00 0.00 0.00 0.00 0.00
A-2 104,531,000.00 104,531,000.00 0.00 0.00 0.00 0.00
A-3 50,000,000.00 48,420,806.64 55,256.77 597,326.61 0.00 0.00
A-4 108,700,000.00 105,206,824.29 122,227.99 1,321,286.47 0.00 0.00
A-5 1,900,000.00 1,900,000.00 0.00 0.00 0.00 0.00
A-6 80,000,000.00 81,032,044.45 4,235.24 45,783.06 -381,506.91 0.00
A-7 11,930,000.00 1,864,115.64 158,696.90 1,715,516.03 -10,097.29 0.00
A-8 10,436,000.00 10,606,505.24 78,142.96 844,726.67 -57,451.90 0.00
A-9 5,000,000.00 4,853,458.01 4,001.56 43,256.95 0.00 0.00
A-R 100.00 100.00 0.00 0.00 0.00 0.00
A-LR 100.00 100.00 0.00 0.00 0.00 0.00
B-1 7,003,000.00 6,986,051.44 5,759.83 0.00 0.00 0.00
B-2 6,753,000.00 6,736,656.49 5,554.21 0.00 0.00 0.00
B-3 2,251,000.00 2,245,552.16 1,851.40 0.00 0.00 0.00
B-4 1,500,000.00 1,496,369.72 1,233.72 0.00 0.00 0.00
B-5 1,000,000.00 997,579.81 822.48 0.00 0.00 0.00
B-6 1,002,681.91 1,000,255.24 726.28 0.00 0.00 98.41
Totals 500,234,184.41 486,104,033.60 438,731.52 4,567,903.57 (449,056.10) 98.41
<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 229.96 238,384.51 0.99616389 229.96
A-1 0.00 107,988,000.00 1.00000000 0.00
A-2 0.00 104,531,000.00 1.00000000 0.00
A-3 652,583.39 47,768,223.25 0.95536446 652,583.39
A-4 1,443,514.46 103,763,309.83 0.95458427 1,443,514.46
A-5 0.00 1,900,000.00 1.00000000 0.00
A-6 (331,488.59) 81,363,533.05 1.01704416 (331,488.59)
A-7 1,864,115.64 0.00 0.00000000 1,864,115.64
A-8 865,417.73 9,741,087.51 0.93341199 865,417.73
A-9 47,258.51 4,806,199.50 0.96123990 47,258.51
A-R 0.00 100.00 1.00000000 0.00
A-LR 0.00 100.00 1.00000000 0.00
B-1 5,759.83 6,980,291.61 0.99675733 5,759.83
B-2 5,554.21 6,731,102.27 0.99675733 5,554.21
B-3 1,851.40 2,243,700.76 0.99675733 1,851.40
B-4 1,233.72 1,495,136.00 0.99675733 1,233.72
B-5 822.48 996,757.33 0.99675733 822.48
B-6 824.69 999,430.56 0.99675735 726.28
Totals 4,557,677.43 481,546,356.18 0.96264184 4,557,579.02
</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 239,302.50 997.12485244 0.92844830 0.03251115 0.00000000
A-1 107,988,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-2 104,531,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-3 50,000,000.00 968.41613280 1.10513540 11.94653220 0.00000000
A-4 108,700,000.00 967.86406891 1.12445253 12.15534931 0.00000000
A-5 1,900,000.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-6 80,000,000.00 1012.90055563 0.05294050 0.57228825 -4.76883638
A-7 11,930,000.00 156.25445432 13.30233864 143.79849371 -0.84637804
A-8 10,436,000.00 1016.33817938 7.48782675 80.94352913 -5.50516481
A-9 5,000,000.00 970.69160200 0.80031200 8.65139000 0.00000000
A-R 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
A-LR 100.00 1000.00000000 0.00000000 0.00000000 0.00000000
B-1 7,003,000.00 997.57981437 0.82248037 0.00000000 0.00000000
B-2 6,753,000.00 997.57981490 0.82248038 0.00000000 0.00000000
B-3 2,251,000.00 997.57981342 0.82247890 0.00000000 0.00000000
B-4 1,500,000.00 997.57981333 0.82248000 0.00000000 0.00000000
B-5 1,000,000.00 997.57981000 0.82248000 0.00000000 0.00000000
B-6 1,002,681.91 997.57982070 0.72433739 0.00000000 0.00000000
<FN>
(2) Per $1,000 denominations.
</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 0.96095946 996.16389298 0.99616389 0.96095946
A-1 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-2 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-3 0.00000000 13.05166780 955.36446500 0.95536446 13.05166780
A-4 0.00000000 13.27980184 954.58426707 0.95458427 13.27980184
A-5 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-6 0.00000000 -4.14360738 1,017.04416313 1.01704416 -4.14360738
A-7 0.00000000 156.25445432 0.00000000 0.00000000 156.25445432
A-8 0.00000000 82.92619107 933.41198831 0.93341199 82.92619107
A-9 0.00000000 9.45170200 961.23990000 0.96123990 9.45170200
A-R 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
A-LR 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000
B-1 0.00000000 0.82248037 996.75733400 0.99675733 0.82248037
B-2 0.00000000 0.82248038 996.75733304 0.99675733 0.82248038
B-3 0.00000000 0.82247890 996.75733452 0.99675733 0.82247890
B-4 0.00000000 0.82248000 996.75733333 0.99675733 0.82248000
B-5 0.00000000 0.82248000 996.75733000 0.99675733 0.82248000
B-6 0.09814678 0.82248417 996.75734650 0.99675735 0.72433739
<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 239,302.50 0.00000% 238,614.47 0.00 0.00 0.00
A-1 107,988,000.00 5.75000% 107,988,000.00 517,442.50 0.00 0.00
A-2 104,531,000.00 5.90000% 104,531,000.00 513,944.08 0.00 0.00
A-3 50,000,000.00 6.10000% 48,420,806.64 246,139.10 0.00 0.00
A-4 108,700,000.00 6.10000% 105,206,824.29 534,801.36 0.00 0.00
A-5 1,900,000.00 6.10000% 1,900,000.00 9,658.33 0.00 0.00
A-6 80,000,000.00 6.50000% 112,712,144.82 610,524.12 0.00 0.00
A-7 11,930,000.00 6.50000% 1,864,115.64 10,097.29 0.00 0.00
A-8 10,436,000.00 6.50000% 10,606,505.24 57,451.90 0.00 0.00
A-9 5,000,000.00 6.50000% 4,853,458.01 26,289.56 0.00 0.00
A-R 100.00 6.50000% 100.00 0.54 0.00 0.00
A-LR 100.00 6.50000% 100.00 0.54 0.00 0.00
B-1 7,003,000.00 6.50000% 6,986,051.44 37,841.11 0.00 0.00
B-2 6,753,000.00 6.50000% 6,736,656.49 36,490.22 0.00 0.00
B-3 2,251,000.00 6.50000% 2,245,552.16 12,163.41 0.00 0.00
B-4 1,500,000.00 6.50000% 1,496,369.72 8,105.34 0.00 0.00
B-5 1,000,000.00 6.50000% 997,579.81 5,403.56 0.00 0.00
B-6 1,002,681.91 6.50000% 1,000,255.24 5,418.05 0.00 0.00
Totals 500,234,184.41 2,631,771.01 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>
APO 0.00 0.00 0.00 0.00 238,384.51
A-1 0.00 0.00 517,442.50 0.00 107,988,000.00
A-2 0.00 0.00 513,944.08 0.00 104,531,000.00
A-3 0.00 0.00 246,139.10 0.00 47,768,223.25
A-4 0.00 0.00 534,801.36 0.00 103,763,309.83
A-5 0.00 0.00 9,658.33 0.00 1,900,000.00
A-6 0.00 0.00 610,524.12 0.00 112,914,642.78
A-7 0.00 0.00 10,097.29 0.00 0.00
A-8 0.00 0.00 57,451.90 0.00 9,741,087.51
A-9 0.00 0.00 26,289.56 0.00 4,806,199.50
A-R 0.00 0.00 0.54 0.00 100.00
A-LR 0.00 0.00 0.54 0.00 100.00
B-1 0.00 0.00 37,841.11 0.00 6,980,291.61
B-2 0.00 0.00 36,490.22 0.00 6,731,102.27
B-3 0.00 0.00 12,163.41 0.00 2,243,700.76
B-4 0.00 0.00 8,105.34 0.00 1,495,136.00
B-5 0.00 0.00 5,403.56 0.00 996,757.33
B-6 0.00 0.00 5,418.05 0.00 999,430.56
Totals 0.00 0.00 2,631,771.01 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 239,302.50 0.00000% 997.12485244 0.00000000 0.00000000 0.00000000
A-1 107,988,000.00 5.75000% 1000.00000000 4.79166667 0.00000000 0.00000000
A-2 104,531,000.00 5.90000% 1000.00000000 4.91666663 0.00000000 0.00000000
A-3 50,000,000.00 6.10000% 968.41613280 4.92278200 0.00000000 0.00000000
A-4 108,700,000.00 6.10000% 967.86406891 4.91997571 0.00000000 0.00000000
A-5 1,900,000.00 6.10000% 1000.00000000 5.08333158 0.00000000 0.00000000
A-6 80,000,000.00 6.50000% 1408.90181025 7.63155150 0.00000000 0.00000000
A-7 11,930,000.00 6.50000% 156.25445432 0.84637804 0.00000000 0.00000000
A-8 10,436,000.00 6.50000% 1016.33817938 5.50516481 0.00000000 0.00000000
A-9 5,000,000.00 6.50000% 970.69160200 5.25791200 0.00000000 0.00000000
A-R 100.00 6.50000% 1000.00000000 5.40000000 0.00000000 0.00000000
A-LR 100.00 6.50000% 1000.00000000 5.40000000 0.00000000 0.00000000
B-1 7,003,000.00 6.50000% 997.57981437 5.40355705 0.00000000 0.00000000
B-2 6,753,000.00 6.50000% 997.57981490 5.40355694 0.00000000 0.00000000
B-3 2,251,000.00 6.50000% 997.57981342 5.40355842 0.00000000 0.00000000
B-4 1,500,000.00 6.50000% 997.57981333 5.40356000 0.00000000 0.00000000
B-5 1,000,000.00 6.50000% 997.57981000 5.40356000 0.00000000 0.00000000
B-6 1,002,681.91 6.50000% 997.57982070 5.40355814 0.00000000 0.00000000
<FN>
(5) Per $1,000 denominations.
</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 996.16389298
A-1 0.00000000 0.00000000 4.79166667 0.00000000 1000.00000000
A-2 0.00000000 0.00000000 4.91666663 0.00000000 1000.00000000
A-3 0.00000000 0.00000000 4.92278200 0.00000000 955.36446500
A-4 0.00000000 0.00000000 4.91997571 0.00000000 954.58426707
A-5 0.00000000 0.00000000 5.08333158 0.00000000 1000.00000000
A-6 0.00000000 0.00000000 7.63155150 0.00000000 1411.43303475
A-7 0.00000000 0.00000000 0.84637804 0.00000000 0.00000000
A-8 0.00000000 0.00000000 5.50516481 0.00000000 933.41198831
A-9 0.00000000 0.00000000 5.25791200 0.00000000 961.23990000
A-R 0.00000000 0.00000000 5.40000000 0.00000000 1000.00000000
A-LR 0.00000000 0.00000000 5.40000000 0.00000000 1000.00000000
B-1 0.00000000 0.00000000 5.40355705 0.00000000 996.75733400
B-2 0.00000000 0.00000000 5.40355694 0.00000000 996.75733304
B-3 0.00000000 0.00000000 5.40355842 0.00000000 996.75733452
B-4 0.00000000 0.00000000 5.40356000 0.00000000 996.75733333
B-5 0.00000000 0.00000000 5.40356000 0.00000000 996.75733000
B-6 0.00000000 0.00000000 5.40355814 0.00000000 996.75734650
<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>
Certificateholder Component Statement
Component Beginning Ending Beginning Ending Ending
Pass-Through Notional Notional Component Component Component
Rate Balance Balance Balance Balance Percentage
Class
<S> <C> <C> <C> <C> <C> <C>
A-6 IO 6.50000% 22,109,169.23 22,109,169.23 0.00 0.00 100.00000000%
A-6 IO 6.50000% 9,570,931.13 9,441,940.50 0.00 0.00 95.53644656%
A-6 PAC 6.50000% 0.00 0.00 10,600,000.00 10,600,000.00 100.00000000%
A-6 SCH 6.50000% 0.00 0.00 70,432,044.45 70,763,533.05 101.96474503%
</TABLE>
<TABLE>
<CAPTION>
CERTIFICATE ACCOUNT
<S> <C>
Beginning Balance 0.00
Deposits
Payments of Interest and Principal 7,176,146.15
Liquidations, Insurance Proceeds, Reserve Funds 0.00
Proceeds from Repurchased Loans 0.00
Other Amounts (Servicer Advances) 137,795.58
Realized Losses 0.00
Total Deposits 7,313,941.73
Withdrawals
Reimbursement for Servicer Advances 17,922.28
Payment of Service Fee 106,669.42
Payment of Interest and Principal 7,189,350.03
Total Withdrawals (Pool Distribution Amount) 7,313,941.73
Ending Balance 0.00
</TABLE>
<TABLE>
<CAPTION>
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL
<S> <C>
Total Prepayment/Curtailment Interest Shortfall 1,541.41
Servicing Fee Support 1,541.41
Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
</TABLE>
<TABLE>
<CAPTION>
SERVICING FEES
<S> <C>
Gross Servicing Fee 101,324.43
Master Servicing Fee 6,886.40
Supported Prepayment/Curtailment Interest Shortfall 1,541.41
Net Servicing Fee 106,669.43
</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 2 515,427.00 0.140351% 0.107036%
60 Days 1 239,650.94 0.070175% 0.049767%
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 3 755,077.94 0.210526% 0.156803%
</TABLE>
<TABLE>
<CAPTION>
OTHER INFORMATION
<S> <C>
Current Period Realized Loss - Includes Interest Shortfall 98.41
Cumulative Realized Losses - Includes Interest Shortfall 521.55
Current Period Class A Insufficient Funds 0.00
Principal Balance of Contaminated Properties 0.00
Periodic Advance 920,545.37
</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 19,509,681.91 3.90010969% 19,446,418.53 4.03832742% 95.959672% 100.000000%
Class B-1 12,506,681.91 2.50016538% 12,466,126.92 2.58876986% 1.450276% 0.000000%
Class B-2 5,753,681.91 1.15019767% 5,735,024.65 1.19096003% 1.398502% 0.000000%
Class B-3 3,502,681.91 0.70020843% 3,491,323.89 0.72502343% 0.466167% 0.000000%
Class B-4 2,002,681.91 0.40034887% 1,996,187.89 0.41453701% 0.310640% 0.000000%
Class B-5 1,002,681.91 0.20044250% 999,430.56 0.20754607% 0.207093% 0.000000%
Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.207649% 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 132,416.57 0.02647092% 132,416.57 0.02749820%
Fraud 10,004,683.69 2.00000000% 10,004,683.69 2.07761591%
Special Hazard 5,477,967.00 1.09508050% 5,477,967.00 1.13757833%
<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 7.231689%
Weighted Average Pass-Through Rate 6.500000%
Weighted Average Maturity(Stepdown Calculation ) 353
Begin Scheduled Collateral Loan Count 1,438
Number Of Loans Paid In Full 13
End Scheduled Collateral Loan Count 1,425
Begining Scheduled Collateral Balance 486,104,033.61
Ending Scheduled Collateral Balance 481,546,356.19
Ending Actual Collateral Balance at 30-Apr-1999 485,793,161.38
Ending Scheduled Balance For Norwest 349,878,875.12
Ending Scheduled Balance For Other Services 131,667,481.07
Monthly P &I Constant 3,143,869.91
Class A Optimal Amount 7,067,750.43
Class AP Deferred Amount 0.00
Ending Scheduled Balance for Premium Loans 466,445,693.29
Ending scheduled Balance For discounted Loans 15,100,662.90
Unpaid Principal Balance Of Outstanding Mortgage Loans
With Original LTV:
Less Than Or Equal To 80% 428,587,459.25
Greater Than 80%, less than or equal to 85% 10,491,382.22
Greater than 85%, less than or equal to 95% 40,359,755.92
Greater than 95% 2,213,227.73
</TABLE>
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