-----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, V2r4UZcJ2R8j+4aoCpt2BdprTqgF744YtmV3Hbio/pxwVfC4hlUGmcANB3sqyq2u 8i6l8rFYbgqoHYAdr28wlA== 0001056404-99-000404.txt : 19990712 0001056404-99-000404.hdr.sgml : 19990712 ACCESSION NUMBER: 0001056404-99-000404 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990625 ITEM INFORMATION: FILED AS OF DATE: 19990709 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NORWEST ASSET SEC CORP MORT PASS THR CERT SER 1999-17 TRUST CENTRAL INDEX KEY: 0001087134 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-65481-18 FILM NUMBER: 99661815 BUSINESS ADDRESS: STREET 1: 11000 BROKEN LAND PARKWAY CITY: COLUMBIA STATE: MD ZIP: 4108842248 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): June 25, 1999 NORWEST ASSET SECURITIES CORPORATION Mortgage Pass-Through Certificates, Series 1999-17 Trust New York (governing law of 333-65481-18 PENDING 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 June 25, 1999 a distribution was made to holders of NORWEST ASSET SECURITIES CORPORATION, Mortgage Pass-Through Certificates, Series 1999-17 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 1999-17 Trust, relating to the June 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 1999-17 Trust By: Norwest Bank Minnesota, N.A., as Master Servicer By: /s/ Sherri J. Sharps, Vice President By: Sherri J. Sharps, Vice President Date: 7/2/99 INDEX TO EXHIBITS Exhibit Number Description EX-99.1 Monthly report distributed to holders of Mortgage Pass-Through Certificates, Series 1999-17 Trust, relating to the June 25, 1999 distribution. EX-99.1 2
Norwest Asset Securities Corporation Mortgage Pass-Through Certificates Record Date: 5/31/99 Distribution Date: 6/25/99 NASCOR Series: 1999-17 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 NMB9917PO PO 0.00000% 1,663,497.87 0.00 18,489.75 A-1 66937RVV8 SEQ 6.25000% 46,032,900.00 239,754.69 421,600.00 A-2 66937RVW6 SEQ 6.25000% 155,000,000.00 807,291.67 211,842.70 A-3 66937RVX4 SEQ 6.75000% 14,408,000.00 81,045.00 0.00 A-4 66937RVY2 PO 0.00000% 1,292,000.00 0.00 0.00 A-R 66937RVZ9 R 6.25000% 100.00 0.52 100.00 B-1 66937RWA3 SUB 6.25000% 4,165,000.00 21,692.71 3,662.57 B-2 66937RWB1 SUB 6.25000% 901,000.00 4,692.71 792.31 B-3 66937RWC9 SUB 6.25000% 563,000.00 2,932.29 495.08 B-4 66937RXJ3 SUB 6.25000% 563,000.00 2,932.29 495.08 B-5 66937RXK0 SUB 6.25000% 225,000.00 1,171.88 197.86 B-6 66937RXL8 SUB 6.25000% 338,103.87 1,760.96 224.44 Totals 225,151,601.74 1,163,274.72 657,899.79
Certificateholder Distribution Summary (continued) Current Ending Cumulative Realized Certificate Total Realized Class Loss Balance Distribution Losses APO 0.00 1,645,008.12 18,489.75 0.00 A-1 0.00 45,611,300.00 661,354.69 0.00 A-2 0.00 154,788,157.30 1,019,134.37 0.00 A-3 0.00 14,408,000.00 81,045.00 0.00 A-4 0.00 1,292,000.00 0.00 0.00 A-R 0.00 0.00 100.52 0.00 B-1 0.00 4,161,337.43 25,355.28 0.00 B-2 0.00 900,207.69 5,485.02 0.00 B-3 0.00 562,504.92 3,427.37 0.00 B-4 0.00 562,504.92 3,427.37 0.00 B-5 0.00 224,802.14 1,369.74 0.00 B-6 72.88 337,806.55 1,985.40 72.88 Totals 72.88 224,493,629.07 1,821,174.51 72.88 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.
Principal Distribution Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Realized Class Amount Balance Distribution Distribution Accretion Loss (1) APO 1,663,497.87 1,663,497.87 1,602.95 16,886.80 0.00 0.00 A-1 46,032,900.00 46,032,900.00 126,829.55 294,770.45 0.00 0.00 A-2 155,000,000.00 155,000,000.00 63,728.45 148,114.25 0.00 0.00 A-3 14,408,000.00 14,408,000.00 0.00 0.00 0.00 0.00 A-4 1,292,000.00 1,292,000.00 0.00 0.00 0.00 0.00 A-R 100.00 100.00 30.08 69.92 0.00 0.00 B-1 4,165,000.00 4,165,000.00 3,662.57 0.00 0.00 0.00 B-2 901,000.00 901,000.00 792.31 0.00 0.00 0.00 B-3 563,000.00 563,000.00 495.08 0.00 0.00 0.00 B-4 563,000.00 563,000.00 495.08 0.00 0.00 0.00 B-5 225,000.00 225,000.00 197.86 0.00 0.00 0.00 B-6 338,103.87 338,103.87 224.44 0.00 0.00 72.88 Totals 225,151,601.74 225,151,601.74 198,058.37 459,841.42 0.00 72.88 (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 18,489.75 1,645,008.12 0.98888502 18,489.75 A-1 421,600.00 45,611,300.00 0.99084133 421,600.00 A-2 211,842.70 154,788,157.30 0.99863327 211,842.70 A-3 0.00 14,408,000.00 1.00000000 0.00 A-4 0.00 1,292,000.00 1.00000000 0.00 A-R 100.00 0.00 0.00000000 100.00 B-1 3,662.57 4,161,337.43 0.99912063 3,662.57 B-2 792.31 900,207.69 0.99912063 792.31 B-3 495.08 562,504.92 0.99912064 495.08 B-4 495.08 562,504.92 0.99912064 495.08 B-5 197.86 224,802.14 0.99912062 197.86 B-6 297.32 337,806.55 0.99912063 224.44 Totals 657,972.67 224,493,629.07 0.99707765 657,899.79
Principal Distribution Factors Statement Original Beginning Scheduled Unscheduled Face Certificate Principal Principal Class (2) Amount Balance Distribution Distribution Accretion APO 1,663,497.87 1000.00000000 0.96360208 10.15138060 0.00000000 A-1 46,032,900.00 1000.00000000 2.75519357 6.40347339 0.00000000 A-2 155,000,000.00 1000.00000000 0.41115129 0.95557581 0.00000000 A-3 14,408,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-4 1,292,000.00 1000.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 1000.00000000 300.80000000 699.20000000 0.00000000 B-1 4,165,000.00 1000.00000000 0.87936855 0.00000000 0.00000000 B-2 901,000.00 1000.00000000 0.87936737 0.00000000 0.00000000 B-3 563,000.00 1000.00000000 0.87936057 0.00000000 0.00000000 B-4 563,000.00 1000.00000000 0.87936057 0.00000000 0.00000000 B-5 225,000.00 1000.00000000 0.87937778 0.00000000 0.00000000 B-6 338,103.87 1000.00000000 0.66381967 0.00000000 0.00000000 (2)Per $1,000 Denomination, except Class A-R, which is Per $100 Denomination.
Principal Distribution Factors Statement (continued) Total Ending Ending Total Realized Principal Certificate Certificate Principal Class Loss (3) Reduction Balance Percentage Distribution APO 0.00000000 11.11498267 988.88501733 0.98888502 11.11498267 A-1 0.00000000 9.15866695 990.84133305 0.99084133 9.15866695 A-2 0.00000000 1.36672710 998.63327290 0.99863327 1.36672710 A-3 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-4 0.00000000 0.00000000 1,000.00000000 1.00000000 0.00000000 A-R 0.00000000 1000.00000000 0.00000000 0.00000000 1000.00000000 B-1 0.00000000 0.87936855 999.12063145 0.99912063 0.87936855 B-2 0.00000000 0.87936737 999.12063263 0.99912063 0.87936737 B-3 0.00000000 0.87936057 999.12063943 0.99912064 0.87936057 B-4 0.00000000 0.87936057 999.12063943 0.99912064 0.87936057 B-5 0.00000000 0.87937778 999.12062222 0.99912062 0.87937778 B-6 0.21555506 0.87937473 999.12062527 0.99912063 0.66381967 (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 1,663,497.87 0.00000% 1,663,497.87 0.00 0.00 0.00 A-1 46,032,900.00 6.25000% 46,032,900.00 239,754.69 0.00 0.00 A-2 155,000,000.00 6.25000% 155,000,000.00 807,291.67 0.00 0.00 A-3 14,408,000.00 6.75000% 14,408,000.00 81,045.00 0.00 0.00 A-4 1,292,000.00 0.00000% 1,292,000.00 0.00 0.00 0.00 A-R 100.00 6.25000% 100.00 0.52 0.00 0.00 B-1 4,165,000.00 6.25000% 4,165,000.00 21,692.71 0.00 0.00 B-2 901,000.00 6.25000% 901,000.00 4,692.71 0.00 0.00 B-3 563,000.00 6.25000% 563,000.00 2,932.29 0.00 0.00 B-4 563,000.00 6.25000% 563,000.00 2,932.29 0.00 0.00 B-5 225,000.00 6.25000% 225,000.00 1,171.88 0.00 0.00 B-6 338,103.87 6.25000% 338,103.87 1,760.96 0.00 0.00 Totals 225,151,601.74 1,163,274.72 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 1,645,008.12 A-1 0.00 0.00 239,754.69 0.00 45,611,300.00 A-2 0.00 0.00 807,291.67 0.00 154,788,157.30 A-3 0.00 0.00 81,045.00 0.00 14,408,000.00 A-4 0.00 0.00 0.00 0.00 1,292,000.00 A-R 0.00 0.00 0.52 0.00 0.00 B-1 0.00 0.00 21,692.71 0.00 4,161,337.43 B-2 0.00 0.00 4,692.71 0.00 900,207.69 B-3 0.00 0.00 2,932.29 0.00 562,504.92 B-4 0.00 0.00 2,932.29 0.00 562,504.92 B-5 0.00 0.00 1,171.88 0.00 224,802.14 B-6 0.00 0.00 1,760.96 0.00 337,806.55 Totals 0.00 0.00 1,163,274.72 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 1,663,497.87 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 A-1 46,032,900.00 6.25000% 1000.00000000 5.20833339 0.00000000 0.00000000 A-2 155,000,000.00 6.25000% 1000.00000000 5.20833335 0.00000000 0.00000000 A-3 14,408,000.00 6.75000% 1000.00000000 5.62500000 0.00000000 0.00000000 A-4 1,292,000.00 0.00000% 1000.00000000 0.00000000 0.00000000 0.00000000 A-R 100.00 6.25000% 1000.00000000 5.20000000 0.00000000 0.00000000 B-1 4,165,000.00 6.25000% 1000.00000000 5.20833373 0.00000000 0.00000000 B-2 901,000.00 6.25000% 1000.00000000 5.20833518 0.00000000 0.00000000 B-3 563,000.00 6.25000% 1000.00000000 5.20833037 0.00000000 0.00000000 B-4 563,000.00 6.25000% 1000.00000000 5.20833037 0.00000000 0.00000000 B-5 225,000.00 6.25000% 1000.00000000 5.20835556 0.00000000 0.00000000 B-6 338,103.87 6.25000% 1000.00000000 5.20834027 0.00000000 0.00000000 (5)Per $1,000 Denomination, except Class A-R, which is Per $100 Denomination.
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 988.88501733 A-1 0.00000000 0.00000000 5.20833339 0.00000000 990.84133305 A-2 0.00000000 0.00000000 5.20833335 0.00000000 998.63327290 A-3 0.00000000 0.00000000 5.62500000 0.00000000 1000.00000000 A-4 0.00000000 0.00000000 0.00000000 0.00000000 1000.00000000 A-R 0.00000000 0.00000000 5.20000000 0.00000000 0.00000000 B-1 0.00000000 0.00000000 5.20833373 0.00000000 999.12063145 B-2 0.00000000 0.00000000 5.20833518 0.00000000 999.12063263 B-3 0.00000000 0.00000000 5.20833037 0.00000000 999.12063943 B-4 0.00000000 0.00000000 5.20833037 0.00000000 999.12063943 B-5 0.00000000 0.00000000 5.20835556 0.00000000 999.12062222 B-6 0.00000000 0.00000000 5.20834027 0.00000000 999.12062527 (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.
CERTIFICATE ACCOUNT Beginning Balance 0.00 Deposits Payments of Interest and Principal 1,916,971.53 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 1,916,971.53 Withdrawals Reimbursement for Servicer Advances 0.00 Payment of Service Fee 61,425.06 Payment of Interest and Principal 1,821,894.90 Total Withdrawals (Pool Distribution Amount) 1,883,319.96 Ending Balance 33,651.43
PREPAYMENT/CURTAILMENT INTEREST SHORTFALL Total Prepayment/Curtailment Interest Shortfall 857.77 Servicing Fee Support 857.77 Non-Supported Prepayment/Curtailment Interest Shortfall 0.00
SERVICING FEES Gross Servicing Fee 59,093.36 Master Servicing Fee 3,189.61 Supported Prepayment/Curtailment Interest Shortfall 857.77 Net Servicing Fee 61,425.20
OTHER ACCOUNTS Beginning Current Current Ending Account Type Balance Withdrawals Deposits Balance Financial Guaranty 0.00 0.00 720.40 0.00 Reserve Fund 2,500.00 0.00 0.00 2,500.00 Reserve Fund 999.99 0.00 0.00 999.99
DELINQUENCY STATUS Percentage Delinquent Based On Current Unpaid Number Principal Number Unpaid Of Loans Balance Of Loans Balance 30 Days 0 0.00 0.000000% 0.000000% 60 Days 0 0.00 0.000000% 0.000000% 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 0 0.00 0.000000% 0.000000%
OTHER INFORMATION Current Period Realized Loss - Includes Interest Shortfall 72.88 Cumulative Realized Losses - Includes Interest Shortfall 72.88 Current Period Class A Insufficient Funds 0.00 Principal Balance of Contaminated Properties 0.00 Periodic Advance 343,052.89
SUBORDINATION LEVEL/CLASS PERCENTAGE AND PREPAYMENT PERCENTAGE Current Next Original $ Original % Current $ Current % Class% Prepayment% Class A 6,755,103.87 3.00024686% 6,749,163.65 3.00639429% 96.971413% 100.000000% Class B-1 2,590,103.87 1.15038216% 2,587,826.22 1.15273927% 1.867338% 0.000000% Class B-2 1,689,103.87 0.75020735% 1,687,618.53 0.75174451% 0.403955% 0.000000% Class B-3 1,126,103.87 0.50015361% 1,125,113.61 0.50117841% 0.252416% 0.000000% Class B-4 563,103.87 0.25009987% 562,608.69 0.25061232% 0.252416% 0.000000% Class B-5 338,103.87 0.15016721% 337,806.55 0.15047489% 0.100877% 0.000000% Class B-6 0.00 0.00000000% 0.00 0.00000000% 0.151586% 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 0.04441452% 100,000.00 0.04454469% Fraud 4,503,032.03 2.00000000% 4,503,032.03 2.00586184% Special Hazard 2,357,418.60 1.04703612% 2,357,418.60 1.05010490% Limit of Subordinate's Exposure to Certain Types of Losses
COLLATERAL STATEMENT Collateral Description Fixed 30 year - Relocation Weighted Average Gross Coupon 6.728774% Weighted Average Pass-Through Rate 6.250000% Weighted Average Maturity(Stepdown Calculation ) 357 Begining Scheduled Collateral Loan Count 642 Number Of Loans Paid In Full 2 Ending Scheduled Collateral Loan Count 640 Beginning Scheduled Collateral Balance 225,151,601.74 Ending Scheduled Collateral Balance 224,493,629.07 Ending Actual Collateral Balance at 31-May-1999 224,380,780.43 Ending Scheduled Balance For Norwest 154,670,680.74 Ending Scheduled Balance For Other Services 69,822,948.33 Monthly P &I Constant 1,426,623.41 Class A Optimal Amount 1,761,634.58 Class AP Deferred Amount 0.00 Ending Scheduled Balance for Premium Loans 115,106,378.36 Ending scheduled Balance For discounted Loans 109,387,250.71 Unpaid Principal Balance Of Outstanding Mortgage Loans With Original LTV: Less Than Or Equal To 80% 176,732,921.91 Greater Than 80%, less than or equal to 85% 6,351,404.42 Greater than 85%, less than or equal to 95% 41,449,226.04 Greater than 95% 0.00
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