-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Ujxml7HlZV2qE+Ui/nyM80Z3MmJ3jrrUbaItLmaajDkxN2fxo6ndAFyciSbsjF0C gCFMfilo9+tfU71BYF63xA== 0001056404-99-000821.txt : 19991228 0001056404-99-000821.hdr.sgml : 19991228 ACCESSION NUMBER: 0001056404-99-000821 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 19971231 FILED AS OF DATE: 19991227 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NORWEST ASS SEC CORP MORT PAS THR CERT SER 1997-03 TRUST CENTRAL INDEX KEY: 0001037326 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 522026458 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: SEC FILE NUMBER: 333-02209-14 FILM NUMBER: 99780579 BUSINESS ADDRESS: STREET 1: 7485 NEW HORIZON WAY CITY: FREDERICK STATE: MD ZIP: 21703 BUSINESS PHONE: 3018156414 MAIL ADDRESS: STREET 1: NORWEST BANK MINNESOTA STREET 2: 7485 NEW HORIZON WAY CITY: FREDERICK STATE: MD ZIP: 21703 10-K/A 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K/A Amendment No. 1 (Mark One) / x / Annual report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 1997 / / Transition report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 Commission File No.: 333-02209-14 Norwest Asset Securities Corporation, Mortgage Pass-Through Certificates, Series 1997-03 Trust (Exact name of registrant as specified in its charter) New York 52-2026458 (State or other jurisdiction (I.R.S. Employer of incorporation or organization) Identification No.) c/o Norwest Bank Minnesota, N.A. 11000 Broken Land Parkway Columbia, MD 21044 (Address of principal executive (Zip Code) offices) Registrant's telephone number, including area code (410) 884-2000 Securities registered pursuant to Section 12(b) of the Act: NONE Securities registered pursuant to Section 12(g) of the Act: NONE Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No__ This Amendment No. 1 on Form 10-K/A amends Item 14 of the original Annual Report on Form 10-K (the "Original Form 10-K") filed on March 26, 1998, on behalf of Norwest Asset Securities Corporation, Mortgage Pass-Through Certificates, Series 1997-03 Trust (the "Trust"), established pursuant to a Pooling and Servicing Agreement among Norwest Asset Securities Corporation, as Seller (the "Company"), and First Union National Bank of North Carolina, as Trustee, and Norwest Bank Minnesota, N.A., as Master Servicer, pursuant to which the Norwest Asset Securities Corporation, Mortgage Pass-Through Certificates, Series 1997-03 registered under the Securities Act of 1933 (the "Certificates") were issued. Item 14 of the Original Form 10-K is amended to read in its entirety as follows: Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K. (a) Exhibits 99.1 Annual Independent Accountants' Servicing Reports concerning servicing activities for the year ended December 31, 1997. (a) Norwest Mortgage, Inc., as Servicer 99.2 Report of Management as to Compliance with Minimum Servicing Standards for the year ended December 31, 1997. (a) Norwest Mortgage, Inc., as Servicer 99.3 Annual Statements of Compliance under the Pooling and Servicing Agreements for the year ended December 31, 1997. (a) Norwest Mortgage, Inc., as Servicer 99.4 Aggregate Statement of Principal and Interest Distributions to Certificate Holders. (b) On October 20, 1997, a report on Form 8-K was filed in order to provide the Pooling and Servicing Agreement for the Certificates. On October 9, 1997, November 10, 1997, and December 9, 1997, reports on Form 8-K were filed by the Company in order to provide the statements for the monthly distributions to holders of the Certificates. No other reports on Form 8-K have been filed during the last quarter of the period covered by this report. (c) Not applicable. (d) Omitted. Filed herewith. Previously filed. Such document (i) is not filed herewith since such document was not received by the Reporting Person at least three business days prior to the due date of the Original Form 10-K; and (ii) will be included in a further amendment to the Original Form 10-K to be filed within 30 days of the Reporting Person's receipt of such document. SIGNATURE Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized: Norwest Asset Securities Corporation, Mortgage Pass-Through Certificates, Series 1997-03 Trust Signed NORWEST BANK MINNESOTA, N.A., as Master Servicer By: /s/Sherri J. Sharps By: Sherri J. Sharps Title: Vice President Dated: December 1, 1999 EXHIBIT INDEX Exhibit No. 99.1 Annual Independent Accountants' Servicing Reports concerning servicing activities for the year ended December 31, 1997. (a) Norwest Mortgage, Inc., as Servicer 99.2 Report of Management as to Compliance with Minimum Servicing Standards for the year ended December 31, 1997. (a) Norwest Mortgage, Inc., as Servicer 99.3 Annual Statements of Compliance for the year ended December 31, 1997. (a) Norwest Mortgage, Inc., as Servicer 99.4 Aggregate Statement of Principal and Interest Distributions to Certificate Holders Filed herewith. Previously filed. Such document (i) is not filed herewith since such document was not received by the Reporting Person at least three business days prior to the due date of the Original Form 10-K; and (ii) will be included in a further amendment to the Original Form 10-K to be filed within 30 days of the Reporting Person's receipt of such document. EX-99.1(A) 2 ANNUAL INDEPENDENT ACCOUNTANT'S SERVICING REPORT (LOGO) KPMG PEAT MARWICK LLP 2500 Ruan Center P.O. Box 772 Des Moines, IA 50303 INDEPENDENT AUDITORS' REPORT The Board of Directors Norwest Mortgage, Inc.: We have examined management's assertion about Norwest Mortgage Banking's compliance with the minimum servicing standards set forth in the Mortgage Bankers Association of America's UNIFORM SINGLE ATTESTATION PROGRAM FOR MORTGAGE BANKERS (USAP) as of and for the year ended December 31, 1997, included in the accompanying Management Assertion. Management is responsible for Norwest Mortgage Banking's compliance with those minimum servicing standards. Our responsibility, is to express an opinion on management's assertion about the entity's compliance based on our examination. Our examination was made in accordance with standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about Norwest Mortgage Banking's compliance with the minimum servicing standards and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on Norwest Mortgage Banking's compliance with the minimum servicing standards. In our opinion, management's assertion that Norwest Mortgage Banking complied in all material respects with the aforementioned minimum servicing standards as of and for the year ended December 31, 1997 is fairly stated, in all material respects. /s/KPMG Peat Marwick LLP January 14, 1998 EX-99.2(A) 3 REPORT OF MANAGEMENT (LOGO)NORWEST MORTGAGE Norwest Mortgage, Inc. 405 S.W. 5th Street Des Moines, IA 50309-4626 515/237-6000 Management Assertion As of and for the year ended December 3l, 1997, Norwest Mortgage Banking has complied in all material respects with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers. As of this same period, Norwest Mortgage Banking had in effect a fidelity bond and errors and omissions policy in the amount of $100 million and $20 million, respectively. /s/Mark C. Oman January 14,1998 Mark C. Oman Date PRESIDENT AND CHIEF EXECUTIVE OFFICER /s/Robert K. Chapman January 14, 1998 Robert K. Chapman Date EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICE /s/Mike Heid January 14, 1998 Mike Heid Date EXECUTIVE VICE PRESIDENT LOAN SERVICING EX-99.3(A) 4 ANNUAL STATEMENT OF COMPLIANCE (LOGO)NORWEST MORTGAGE Norwest Mortgage, Inc. Home Campus Des Moines, IA 50328 515/221-7300 March 5, 1998 Norwest Bank Attention Stacy Wainwright 11000 Broken Land Parkway Columbia MD 21044 Re: 1997 Annual Certification We hereby certify to the best of our knowledge and belief that for the calendar year of 1997: 1. All real estate taxes, bonds assessments and other lienable items have been paid. 2. All FHA mortgage insurance, private mortgage insurance premiums, and flood insurance have been paid (if applicable). 3. Hazard insurance policies held by us meet the requirements as specified in the servicing agreement, or those of a normal prudent lender if not specified, and those premiums due have been paid. 4. We have made all property inspections as required. 5. Fidelity bond and Errors and Omissions insurance coverage currently exists. 6. That the Officer signing this certificate has reviewed the activities and performance of the Servicer during the preceding fiscal year under the terms of the Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide and to the best of this Officer's knowledge, the Servicer has fulfilled all of its duties, responsibilities or obligations under these Agreements throughout such year, or if there has been a default or failure of the servicer to perform any of such duties, responsibilities or obligations, a description of each default or failure and the nature and status thereof has been reported. Sincerely, /s/John B. Brown John B. Brown Vice President Norwest Mortgage Inc. NMFL #0820H 9/96 -----END PRIVACY-ENHANCED MESSAGE-----