-----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, QHkObp4eIc80mtUc//SKt41gN4hERvg/NPMAo+DovJSKJCp6cxvAAhPs07yiVfTT 5x4fsmmNTnag8Kmfq2832g== 0001056404-99-000710.txt : 19991213 0001056404-99-000710.hdr.sgml : 19991213 ACCESSION NUMBER: 0001056404-99-000710 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19991126 ITEM INFORMATION: FILED AS OF DATE: 19991210 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NORWEST ASSET SECURITIES CORP MOR PAS THR CER SER 1999-10 TR CENTRAL INDEX KEY: 0001082512 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 521972128 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-65481-12 FILM NUMBER: 99772451 BUSINESS ADDRESS: STREET 1: 7485 NEW HORIZON WAY CITY: FREDERICK STATE: MD ZIP: 21703 BUSINESS PHONE: 4108842000 MAIL ADDRESS: STREET 1: 11000 BROKEN LAND PARKWAY CITY: COLUMBIA STATE: MD ZIP: 21044-3562 8-K 1 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 26, 1999 NORWEST ASSET SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 1999-10 Trust New York (governing law of 333-65481-12 52-2166522 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 26, 1999 a distribution was made to holders of NORWEST ASSET SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 1999-10 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 1999-10 Trust, relating to the November 26, 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 1999-10 Trust By: Norwest Bank Minnesota, N.A., as Master Servicer By: /s/ Sherri J. Sharps, Vice President By: Sherri J. Sharps, Vice President Date: 12/9/99 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 1999-10 Trust, relating to the November 26, 1999 distribution. EX-99.1 2
Norwest Asset Securities Corporation Mortgage Pass-Through Certificates Record Date: 10/31/99 Distribution Date: 11/26/99 NASCOR Series: 1999-10 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 APO NMB9910PO PO 0.00000% 940,949.13 0.00 3,812.73 A-1 66937RRR2 SEQ 6.25000% 275,147,914.57 1,433,062.06 1,299,537.49 A-R 66937RRS0 R 6.25000% 0.00 104.13 0.00 B-1 66937RRT8 SUB 6.25000% 2,197,009.17 11,442.76 7,790.58 B-2 66937RRU5 SUB 6.25000% 1,171,738.22 6,102.80 4,154.97 B-3 66937RRV3 SUB 6.25000% 878,803.67 4,577.10 3,116.23 B-4 66937RRZ4 SUB 6.25000% 732,336.39 3,814.25 2,596.86 B-5 66937RSA8 SUB 6.25000% 439,401.84 2,288.55 1,558.12 B-6 66937RSB6 SUB 6.25000% 439,426.76 2,288.68 1,558.20 Totals 281,947,579.75 1,463,680.33 1,324,125.18
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses APO 0.00 937,136.40 3,812.73 0.00 A-1 0.00 273,848,377.08 2,732,599.55 0.00 A-R 0.00 0.00 104.13 0.00 B-1 0.00 2,189,218.59 19,233.34 0.00 B-2 0.00 1,167,583.25 10,257.77 0.00 B-3 0.00 875,687.44 7,693.33 0.00 B-4 0.00 729,739.53 6,411.11 0.00 B-5 0.00 437,843.72 3,846.67 0.00 B-6 0.00 437,868.56 3,846.88 3,959.75 Totals 0.00 280,623,454.57 2,787,805.51 3,959.75 All distributions required by the Pooling and Servicing Agreement have been calculated by the Certificate Administrator on behalf of the Trustee.
Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) APO 967,834.69 940,949.13 3,460.36 352.37 0.00 0.00 A-1 293,033,277.00 275,147,914.57 975,672.07 323,865.42 0.00 0.00 A-R 100.00 0.00 0.00 0.00 0.00 0.00 B-1 2,250,000.00 2,197,009.17 7,790.58 0.00 0.00 0.00 B-2 1,200,000.00 1,171,738.22 4,154.97 0.00 0.00 0.00 B-3 900,000.00 878,803.67 3,116.23 0.00 0.00 0.00 B-4 750,000.00 732,336.39 2,596.86 0.00 0.00 0.00 B-5 450,000.00 439,401.84 1,558.12 0.00 0.00 0.00 B-6 450,025.53 439,426.76 1,558.20 0.00 0.00 0.00 Totals 300,001,237.22 281,947,579.75 999,907.39 324,217.79 0.00 0.00 (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.
Principal Distribution Statement (continued) Total Ending Ending Total Principal Certificate Certificate Principal Class Reduction Balance Percentage Distribution APO 3,812.73 937,136.40 0.96828147 3,812.73 A-1 1,299,537.49 273,848,377.08 0.93452996 1,299,537.49 A-R 0.00 0.00 0.00000000 0.00 B-1 7,790.58 2,189,218.59 0.97298604 7,790.58 B-2 4,154.97 1,167,583.25 0.97298604 4,154.97 B-3 3,116.23 875,687.44 0.97298604 3,116.23 B-4 2,596.86 729,739.53 0.97298604 2,596.86 B-5 1,558.12 437,843.72 0.97298604 1,558.12 B-6 1,558.20 437,868.56 0.97298604 1,558.20 Totals 1,324,125.18 280,623,454.57 0.93540766 1,324,125.18
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion APO 967,834.69 972.22091719 3.57536265 0.36408077 0.00000000 A-1 293,033,277.00 938.96473939 3.32956066 1.10521721 0.00000000 A-R 100.00 0.00000000 0.00000000 0.00000000 0.00000000 B-1 2,250,000.00 976.44852000 3.46248000 0.00000000 0.00000000 B-2 1,200,000.00 976.44851667 3.46247500 0.00000000 0.00000000 B-3 900,000.00 976.44852222 3.46247778 0.00000000 0.00000000 B-4 750,000.00 976.44852000 3.46248000 0.00000000 0.00000000 B-5 450,000.00 976.44853333 3.46248889 0.00000000 0.00000000 B-6 450,025.53 976.44851393 3.46247023 0.00000000 0.00000000 (2) Per $1,000 denominations.
Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution APO 0.00000000 3.93944342 968.28147377 0.96828147 3.93944342 A-1 0.00000000 4.43477786 934.52996152 0.93452996 4.43477786 A-R 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 B-1 0.00000000 3.46248000 972.98604000 0.97298604 3.46248000 B-2 0.00000000 3.46247500 972.98604167 0.97298604 3.46247500 B-3 0.00000000 3.46247778 972.98604444 0.97298604 3.46247778 B-4 0.00000000 3.46248000 972.98604000 0.97298604 3.46248000 B-5 0.00000000 3.46248889 972.98604444 0.97298604 3.46248889 B-6 0.00000000 3.46247023 972.98604370 0.97298604 3.46247023 (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.
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 APO 967,834.69 0.00000% 940,949.13 0.00 0.00 0.00 A-1 293,033,277.00 6.25000% 275,147,914.57 1,433,062.06 0.00 0.00 A-R 100.00 6.25000% 0.00 0.00 0.00 0.00 B-1 2,250,000.00 6.25000% 2,197,009.17 11,442.76 0.00 0.00 B-2 1,200,000.00 6.25000% 1,171,738.22 6,102.80 0.00 0.00 B-3 900,000.00 6.25000% 878,803.67 4,577.10 0.00 0.00 B-4 750,000.00 6.25000% 732,336.39 3,814.25 0.00 0.00 B-5 450,000.00 6.25000% 439,401.84 2,288.55 0.00 0.00 B-6 450,025.53 6.25000% 439,426.76 2,288.68 0.00 0.00 Totals 300,001,237.22 1,463,576.20 0.00 0.00
Interest Distribution Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (4) Distribution Shortfall Balance APO 0.00 0.00 0.00 0.00 937,136.40 A-1 0.00 0.00 1,433,062.06 0.00 273,848,377.08 A-R 0.00 0.00 104.13 0.00 0.00 B-1 0.00 0.00 11,442.76 0.00 2,189,218.59 B-2 0.00 0.00 6,102.80 0.00 1,167,583.25 B-3 0.00 0.00 4,577.10 0.00 875,687.44 B-4 0.00 0.00 3,814.25 0.00 729,739.53 B-5 0.00 0.00 2,288.55 0.00 437,843.72 B-6 0.00 0.00 2,288.68 0.00 437,868.56 Totals 0.00 0.00 1,463,680.33 0.00 (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.
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 APO 967,834.69 0.00000% 972.22091719 0.00000000 0.00000000 0.00000000 A-1 293,033,277.00 6.25000% 938.96473939 4.89044137 0.00000000 0.00000000 A-R 100.00 6.25000% 0.00000000 0.00000000 0.00000000 0.00000000 B-1 2,250,000.00 6.25000% 976.44852000 5.08567111 0.00000000 0.00000000 B-2 1,200,000.00 6.25000% 976.44851667 5.08566667 0.00000000 0.00000000 B-3 900,000.00 6.25000% 976.44852222 5.08566667 0.00000000 0.00000000 B-4 750,000.00 6.25000% 976.44852000 5.08566667 0.00000000 0.00000000 B-5 450,000.00 6.25000% 976.44853333 5.08566667 0.00000000 0.00000000 B-6 450,025.53 6.25000% 976.44851393 5.08566703 0.00000000 0.00000000 (5) Per $1,000 denominations.
Interest Distribution Factors Statement (continued) Remaining Ending Non-Supported Total Unpaid Certificate/ Interest Realized Interest Interest Notional Class Shortfall Losses (6) Distribution Shortfall Balance APO 0.00000000 0.00000000 0.00000000 0.00000000 968.28147377 A-1 0.00000000 0.00000000 4.89044137 0.00000000 934.52996152 A-R 0.00000000 0.00000000 1041.30000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 5.08567111 0.00000000 972.98604000 B-2 0.00000000 0.00000000 5.08566667 0.00000000 972.98604167 B-3 0.00000000 0.00000000 5.08566667 0.00000000 972.98604444 B-4 0.00000000 0.00000000 5.08566667 0.00000000 972.98604000 B-5 0.00000000 0.00000000 5.08566667 0.00000000 972.98604444 B-6 0.00000000 0.00000000 5.08566703 0.00000000 972.98604370 (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.
CERTIFICATEHOLDER ACCOUNT STATEMENT CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 2,980,152.10 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 2,980,152.10 Withdrawals Reimbursement for Servicer Advances 68,774.53 Payment of Service Fee 62,738.12 Payment of Interest and Principal 2,787,805.51 Total Withdrawals (Pool Distribution Amount) 2,919,318.16 Ending Balance 60,833.94
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 0.00 Servicing Fee Support 0.00 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES Gross Servicing Fee 58,743.56 Master Servicing Fee 3,994.56 Supported Prepayment/Curtailment Interest Shortfall 0.00 Net Servicing Fee 62,738.12
CERTIFICATEHOLDER DELINQUENCY/CREDIT ENHANCEMENT STATEMENT DELINQUENCY STATUS Percentage Delinquent Based On Current Unpaid Number Principal Number Unpaid Of Loans Balance Of Loans Balance 30 Days 1 308,068.61 0.126904% 0.109780% 60 Days 0 0.00 0.000000% 0.000000% 90+ Days 1 43,358.41 0.126904% 0.015451% Foreclosure 0 0.00 0.000000% 0.000000% REO 0 0.00 0.000000% 0.000000% Totals 2 351,427.02 0.253807% 0.125231%
OTHER INFORMATION Current Period Realized Loss - Includes Interest Shortfall 0.00 Cumulative Realized Losses - Includes Interest Shortfall 3,959.75 Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 523,372.52
SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Next Original $ Original % Current $ Current % Class% Prepayment% Class A 6,000,025.53 2.00000026% 5,837,941.09 2.08034681% 97.912683% 100.000000% Class B-1 3,750,025.53 1.25000335% 3,648,722.50 1.30022008% 0.782741% 0.000000% Class B-2 2,550,025.53 0.85000500% 2,481,139.25 0.88415249% 0.417462% 0.000000% Class B-3 1,650,025.53 0.55000624% 1,605,451.81 0.57210179% 0.313096% 0.000000% Class B-4 900,025.53 0.30000727% 875,712.28 0.31205955% 0.260914% 0.000000% Class B-5 450,025.53 0.15000789% 437,868.56 0.15603420% 0.156548% 0.000000% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.156557% 0.000000% Please Refer to the Prospectus Supplement for a Full Description of Loss Exposure
CREDIT ENHANCEMENT Original $ Original % Current $ Current % Bankruptcy 100,000.00 0.03333320% 100,000.00 0.03563494% Fraud 6,000,024.74 2.00000000% 6,000,024.74 2.13810522% Special Hazard 9,966,333.82 3.32209757% 9,966,333.82 3.55149709% Limit of Subordinate's Exposure to Certain Types of Losses
COLLATERAL STATEMENT Collateral Description Fixed 15 Year Weighted Average Gross Coupon 6.816586% Weighted Average Pass-Through Rate 6.250000% Weighted Average Maturity(Stepdown Calculation ) 170 Beginning Scheduled Collateral Loan Count 789 Number Of Loans Paid In Full 1 Ending Scheduled Collateral Loan Count 788 Beginning Scheduled Collateral Balance 281,947,579.75 Ending Scheduled Collateral Balance 280,623,454.57 Ending Actual Collateral Balance at 31-Oct-1999 281,723,295.04 Ending Scheduled Balance For Norwest 216,605,617.09 Ending Scheduled Balance For Other Services 64,017,837.48 Monthly P &I Constant 2,527,295.21 Class A Optimal Amount 2,732,599.55 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans 229,837,023.30 Ending scheduled Balance For discounted Loans 50,786,431.27 Unpaid Principal Balance Of Outstanding Mortgage Loans With Original LTV: Less Than Or Equal To 80% 273,383,010.82 Greater Than 80%, less than or equal to 85% 2,395,314.31 Greater than 85%, less than or equal to 95% 4,494,081.04 Greater than 95% 529,255.37
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