-----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, M1KhUVI1yOUcI0bfsiZhki1AREaqJ7hxftKCS4fQhk0nN1frCEuBvpA8SjSNjUXT HQewblQeQMbjHgOwo/KdIQ== 0001056404-01-000309.txt : 20010421 0001056404-01-000309.hdr.sgml : 20010421 ACCESSION NUMBER: 0001056404-01-000309 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 19991231 FILED AS OF DATE: 20010419 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NORWEST ASSET SEC CORP MORT PASS THR CERT SER 1999-25 CENTRAL INDEX KEY: 0001095712 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 521972128 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: SEC FILE NUMBER: 333-65481-27 FILM NUMBER: 1606109 BUSINESS ADDRESS: STREET 1: 11000 BROKEN LAND PKWY CITY: COLUMBIA STATE: MD ZIP: 21044 BUSINESS PHONE: 4108842248 MAIL ADDRESS: STREET 1: 11000 BROKEN LAND PARKWAY CITY: COLUMBIA STATE: MD ZIP: 21044-3562 10-K/A 1 0001.txt 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, 1999 or / / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No.: 333-65481-27 Norwest Asset Securities Corporation Mortgage Pass-Through Certificates, Series 1999-25 Trust (Exact name of registrant as specified in its charter) New York 52-2204771 (State or other jurisdiction (I.R.S. Employer of incorporation or Identification No.) organization) c/o Wells Fargo Bank Minnesota, N.A. 11000 Broken Land Parkway Columbia, Maryland 21044 (Address of principal executive offices) (ZIP Code) Registrant's telephone number, including area code: (410) 884-2000 Securities to be registered pursuant to Section 12(b) of the Act: NONE Securities to be 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 24, 2000, on behalf of Norwest Asset Securities Corporation Mortgage Pass-Through Certificates Series 1999-25 established pursuant to the Pooling and Servicing Agreement among Norwest Asset Securities Corporation as Seller, Wells Fargo Bank Minnesota, N.A. as Master Servicer, United States Trust Company of New York as Trustee, and First Union National Bank as Trust Administrator pursuant to which the Norwest Asset Securities Corporation Mortgage Pass-Through Certificates Series 1999-25 Trust registered under the Securities Act of 1933 (the "Certificates") were issued. Item 14 of the original Form 10K is amended in its entirety to read 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, 1999. a) CITICORP MTG INC b) FIRST UNION MTG CORP c) FIRSTAR HOME MORTGAGE d) HUNTINGTON MTG CO (99.2) Report of Management as to Compliance with Minimum Servicing Standards for the year ended December 31, 1999. a) CITICORP MTG INC b) FIRST UNION MTG CORP c) FIRSTAR HOME MORTGAGE d) HUNTINGTON MTG CO (99.3) Annual Statements of Compliance under the Pooling and Servicing Agreements for the year ended December 31, 1999. a) CITICORP MTG INC b) FIRST UNION MTG CORP c) FIRSTAR HOME MORTGAGE d) HUNTINGTON MTG CO (99.4) Aggregate Statement of Principal and Interest Distributions to Certificates Holders. (b) On October 22, 1999, a report on Form 8-K was filed in order to provide the Pooling and Servicing Agreement for the Certificates. On November 5, 1999 and December 10, 1999 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. 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 1999-25 Trust Signed: Wells Fargo Bank Minnesota, N.A., as Master Servicer By: Sherri Sharps, Vice president By: /s/ Sherri Sharps, Vice president Dated: April 6, 2001 Exhibit Index Exhibit No. 99.1 Annual Independent Accountants' Servicing Reports concerning servicing activities for the year ended December 31, 1999. a) CITICORP MTG INC b) FIRST UNION MTG CORP c) FIRSTAR HOME MORTGAGE d) HUNTINGTON MTG CO 99.2 Report of Management as to Compliance with Minimum Servicing Standards for the year ended December 31, 1999. a) CITICORP MTG INC b) FIRST UNION MTG CORP c) FIRSTAR HOME MORTGAGE d) HUNTINGTON MTG CO 99.3 Annual Statements of Compliance under the Pooling and Servicing Agreements for the year ended December 31, 1999. a) CITICORP MTG INC b) FIRST UNION MTG CORP c) FIRSTAR HOME MORTGAGE d) HUNTINGTON MTG CO 99.4 Aggregate Statement of Principal and Interest Distributions to Certificate Holders. Filed herewith. Previously filed. EX-99.1(A) 2 0002.txt ANNUAL INDEPENDANT ACCOUNTANT'S SERVICING REPORT (LOGO) KPMG 10 South Broadway Suite 900 St Louis, MO 63102-1761 Telephone 314 444 1400 Fax 314 444 1470 Independent Accountants' Report The Board of Directors Citicorp Mortgage, Inc.: We have examined management's assertion about Citicorp Mortgage, Inc. (an indirect wholly owned subsidiary of Citigroup) and subsidiaries' (the Company) compliance with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers as of and for the year ended December 31, 1999 included in the accompanying management assertion. Management is responsible for Citicorp Mortgage, Inc.'s compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about Citicorp Mortgage, Inc.'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 Citicorp Mortgage, Inc.'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 Citicorp Mortgage, Inc.'s compliance with the minimum servicing standards. In our opinion, management's assertion that Citicorp Mortgage, Inc. complied in all material respects with the aforementioned minimum servicing standards as of and for the year ended December 31, 1999 is fairly stated, in all material respects. KPMG LLP March 10, 2000 KPMG LLP.KPMG LLP, a U.S. limited liability partnership, is a member of KPMG International, a Swiss association EX-99.1(B) 3 0003.txt ANNUAL INDEPENDANT ACCOUNTANT'S SERVICING REPORT (LOGO) KPMG 401 South Tryon Street Suite 2300 Charlotte, NC 28202-1911 Independent Accountants' Report The Board of Directors First Union Mortgage Corporation: We have examined management's assertion, included in the accompanying management assertion, that First Union Mortgage Corporation (a wholly-owned subsidiary of First Union Corporation) complied 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, 1999. Management is responsible for First Union Mortgage Corporation's compliance with those minimum servicing standards. Our responsibility is to express an opinion on management's assertion about First Union Mortgage Corporation's compliance based on our examination. Our examination was made in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about First Union Mortgage Corporation'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 First Union Mortgage Corporation's compliance with the minimum servicing standards. In our opinion, management's assertion that First Union Mortgage Corporation complied in all material respects with the aforementioned minimum servicing standards as of and for the year ended December 31, 1999 is fairly stated, in all material respects. KPMG LLP February 11, 2000 KPMG LLP.KPMG LLP, a U.S. limited liability partnership, is a member of KPMG International, a Swiss association EX-99.1(C) 4 0004.txt ANNUAL INDEPENDANT ACCOUNTANT'S SERVICING REPORT (LOGO) PRICEWATERHOUSECOOPERS PricewaterhouseCoopers LLP 650 Third Avenue South Park Building Suite 1300 Minneapolis MN 55402-4333 Telephone (612) 596 6000 Facsimile (612) 373 7160 Report of Independent Accountants To the Board of Directors and Stockholder of Mercantile Bank N.A.: We have examined management's assertion about Mercantile Bank N.A.'s (the "Company"), a wholly owned subsidiary of Firstar Corporation, compliance with the minimum servicing standards ("standards") identified 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, 1999 included in the accompanying management assertion (see Exhibit I). Management is responsible for the Company'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 the Company's compliance with the 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 the Company's compliance with the standards. In our opinion, management's assertion that the Company complied with the aforementioned standards as of and for the year ended December 31, 1999 is fairly stated, in all material respects. PricewaterhouseCoopers LLP March 16, 2000 EX-99.1(D) 5 0005.txt ANNUAL INDEPENDANT ACCOUNTANT'S SERVICING REPORT (logo) ERNST & YOUNG Ernst & Young LLP One Columbus 10 West Broad Street Columbus, Ohio 43215-3400 Phone: (614)224-5678 Fax: (614)2243939 www.ey.com Report of Independent Accountants Board of Directors The Huntington Mortgage Company We have examined management's assertion, included in the accompanying report titled Report of Management, that The Huntington Mortgage Company (HMC), a wholly-owned subsidiary of The Huntington National Bank, complied with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP) during the year ended December 31, 1999. Management is responsible for HMC's compliance with those requirements. Our responsibility is to express an opinion on management's assertion about HMC's compliance based on our examination. Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about HMC's compliance with those requirements 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 HMC's compliance with specified requirements. In our opinion, management's assertion that HMC complied with the aforementioned requirements during the year ended December 31, 1999 is fairly stated, in all material respects. This report is intended solely for the information and use of the board of directors, management, Federal Home Loan Mortgage Corporation, Federal National Mortgage Association, HMC's private investors and is not intended to be and should not be used by anyone other than these specified parties. Ernst & Young LLP March 8,2000 Ernst and Young LLP is a member of Ernst Young International, Ltd. EX-99.2(A) 6 0006.txt REPORT OF MANAGEMENT (LOGO) CITIBANK Citicorp Mortgage, Inc. 12855 N. Outer Forty Drive MS 822 St. Louis, MO 63141 As of and for the year ended December 31, 1999, Citicorp Mortgage, Inc. (an indirect wholly owned subsidiary of Citigroup) and subsidiaries (the Company) has complied, in all material respects, with the minimum servicing standards set forth in the Mortgage Bankers Association of America's Uniform Single Attestation for Mortgage Bankers. As of and for this same period, the Company had in effect fidelity bond and errors and omissions policies in the amount of $430 million. Very truly yours, CITICORP MORTGAGE, INC. By: Keith B.McDonald, Director of Servicing By: David B.Lowman, President/Chief Operating Officer March 10, 2000 EX-99.2(B) 7 0007.txt REPORT OF MANAGEMENT First Union Mortgage Corporation NC1087 201 South College Street Charlotte, North Carolina 28244-1087 704 374-6787 (LOGO) FIRST UNION MANAGEMENT'S ASSERTION As of and for the year ended December 31, 1999, First Union Mortgage Corporation 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 and for the year ended December 31, 1999, First Union Mortgage Corporation had in effect a fidelity bond and errors and omissions policy in the amount of $200 million and $20 million, respectively. Debra M. Warren, President / Chief Executive Officer February 11, 2000 Date Debbie Craig, Senior Vice President / Chief Financial Officer February 11, 2000 Date Karin Patrick, Senior Vice President / Director of Servicing February 11, 2000 Date Joesph F. DeDomincis, Vice President / Operational and Credit Risk Manager February 11, 2000 Date EX-99.2(C) 8 0008.txt REPORT OF MANAGEMENT (LOGO) MERCANTILE BANK Mercantile Bank National Association Mercantile Tower P.O. Box 524 St. Louis, MO 63166-0524 314-425-2525 Exhibit 1 Management's Assertion Concerning Compliance with USAP Minimum Servicing Standards March 16, 2000 As of and for the year ended December 31, 1999, Mercantile Bank N.A. (the "Company"), a wholly owned subsidiary of Firstar Corporation, has complied in all material respects with the minimum servicing standards (the "Standards") set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers ("USAP"). As of and for this same period, the Company had in effect fidelity bond and errors and omissions policy in the amounts of $50,000,000 and $25,000,000 respectively. Heidi Meckes Chief Financial Officer Mercantile Mortgage Mercantile Bank, N.A. Alan Leimkuehler Vice President of Servicing Mercantile Mortgage Mercantile Bank, N.A. EX-99.2(D) 9 0009.txt REPORT OF MANAGEMENT (logo) Huntington Mortgage Company Report of Management We, as members of management of The Huntington Mortgage Company (HMC), a wholly-owned subsidiary of The Huntington National Bank, are responsible for complying with the minimum servicing standards as set forth in the Mortgage Bankers Association of America's Uniform Single Attestation Program for Mortgage Bankers (USAP). We are also responsible for establishing and maintaining effective internal control over compliance with these standards. We have performed an evaluation of HMC's compliance with the minimum servicing standards as set forth in the USAP as of December 31, 1999 and for the year then ended. Based on this evaluation, we assert that during the year ended December 31, 1999, HMC complied, in all material respects, with the minimum servicing standards set forth in the USAP. As of and for this same period, HMC had in effect a fidelity bond in the amount of $60,000,000 and an errors and omissions policy in the amount of $12,000,000. Thomas J. Finnegan III President and Chief Executive Officer Irving A. Adler Senior Vice President March 8, 2000 EX-99.3(A) 10 0010.txt ANNUAL STATEMENT OF COMPLIANCE Citicorp Mortgage, Inc. a subsidiary of Citicorp Mail Station 313 P.O. Box 790013 St. Louis, Missouri 63179-0013 March 31, 2000 Investor #6121 and 6123 Attn: Christine A Tincher Norwest Bank 11000 Broken Land Parkway Columbia, MD 21044-3562 OFFICER'S CERTIFICATE RE: Annual Statement as to Compliance: Pursuant to SASCOR Servicing Guide Dear Ms. Tincher: The activities of Citicorp Mortgage, Inc., performed under the above referenced Servicing Guide during the preceding calendar year, have been conducted under my supervision. Based upon a review of those activities and to the best of my knowledge, Citicorp Mortgage, Inc. has fulfilled all of its obligations under this Servicing Guide. Citicorp Mortgage, Inc. By: Patsy M. Barker, Vice President By: Timothy Klingert,Investor Reporting Manager EX-99.3(B) 11 0011.txt ANNUAL STATEMENT OF COMPLIANCE First Union Mortgage Corporation NC4755 Operational & Regulatory Risk Division P. O. Box 900001 Raleigh, North Carolina 27675-9001 1100 Corporate Center Drive Raleigh, North Carolina 27607-5066 (LOGO) FIRST UNION Norwest Bank Minnesota, N.A. 11000 Broken Land Parkway Columbia, MD 21044-3562 Attention: Master Servicing RE: Officer's Certificate Dear Master Servicer: The undersigned Officer certifies the following for the 1999 fiscal year: (A) I have 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 these Officers' 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 to Norwest Bank Minnesota, N.A.; (B) I have confirmed that the Servicer is currently an approved FNMA or FHLMC servicer in good standing; (C) I have confirmed that the Fidelity Bond, the Errors and Omissions Insurance Policy and any other bonds required under the terms of the Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide are in full force and effect; (D) All premiums for each Hazard Insurance Policy, Flood Insurance Policy (if applicable) and Primary Mortgage Insurance Policy (if applicable), with respect to each Mortgaged Property, have been paid and that all such insurance policies are in full force and effect; (E) All real estate taxes, governmental assessments and any other expenses accrued and due, that if not paid could result in a lien or encumbrance on any Mortgaged Property, have been paid, or if any such costs or expenses have not been paid with respect to any Mortgaged Property, the reason for the non-payment has been reported to Norwest Bank Minnesota, N.A., (F) All Custodial Accounts have been reconciled and are properly funded; and (G) All annual reports of Foreclosure and Abandonment of Mortgage Property required per section 6050H, 6050J and 6050P of the Internal Revenue Code, respectively, have been prepared and filed. Certified By: Joesph F. DeDominios Officer Vice President Title 3/30/2000 Date EX-99.3(C) 12 0012.txt ANNUAL STATEMENT OF COMPLIANCE (LOGO) FIRSTAR Home Mortgage 4801 Frederica Street P.O. Box 20005 Owensboro, Kentucky 42304-0005 Norwest Bank Minnesota, N.A. 11000 Broken Land Parkway Columbia, MD 21044-3562 Attention: Master Servicing RE: Officer's Certificate Dear Master Servicer: The undersigned Officer certifies the following for the 1999 fiscal year: (A) I have 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 these Officers' 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 to Norwest Bank Minnesota, N.A.; (B) I have confirmed that the Servicer is currently an approved FNMA or FHLMC servicer in good standing; (C) I have confirmed that the Fidelity Bond, the Errors and Omissions Insurance Policy and any other bonds required under the terms of the Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide are in full force and effect; (D) All premiums for each Hazard Insurance Policy, Flood Insurance Policy (if applicable) and Primary Mortgage Insurance Policy (if applicable), with respect to each Mortgaged Property, have been paid and that all such insurance policies are in full force and effect; (E) All real estate taxes, governmental assessments and any other expenses accrued and due, that if not paid could result in a lien or encumbrance on any Mortgaged Property, have been paid, or if any such costs or expenses have not been paid with respect to any Mortgaged Property, the reason for the non-payment has been reported to Norwest Bank Minnesota, N.A.; (F) All Custodial Accounts have been reconciled and are properly funded; and (G) All annual reports of ForeClosure and Abandonment of Mortgage Property required per section 6050H, 6050J and 6050P of the Internal Revenue Code, respectively, have been prepared and filed. Certified By: Officer Vice President Title 7/11/00 Date EX-99.3(D) 13 0013.txt ANNUAL STATEMENT OF COMPLIANCE (Logo) HUNTINGTON MORTGAGE COMPANY Norwest Bank Minnesota, N.A. 11000 Broken Land Parkway Columbia, MD 21044-3562 Attention: Master Servicing RE: Officer's Certificate Dear Master Servicer: The undersigned Officer certifies the following for the 1999 fiscal year: (A)I have 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 these Officers' 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 to Norwest Bank Minnesota, N.A.; (B) I have confirmed that the Servicer is currently an approved FNMA or FHLMC servicer in good standing; (c) I have confirmed that the Fidelity Bond, the Errors and Omissions Insurance Policy and any other bonds required under the terms of the Servicing Agreement, Trust Agreement, Pooling and Servicing Agreement and/or Seller/Servicer Guide are in full force and effect; (D) All premiums for each Hazard Insurance Policy, Flood Insurance Policy (if applicable) and Primary Mortgage Insurance Policy (if applicable), with respect to each Mortgaged Property, have been paid and that all such insurance policies are in full force and effect; (E) All real estate taxes, governmental assessments and any other expenses accrued and due, that if not paid could result in a lien or encumbrance on any Mortgaged Property, have been paid, or if any such costs or expenses have not been paid with respect to any Mortgaged Property, the reason for the non-payment has been reported to Norwest Bank Minnesota, N.A.; (F) All Custodial Accounts have been reconciled and are properly funded; and (G) All annual reports of Foreclosure and Abandonment of Mortgage Property required per section 6050H, 6050J and 6050P of the Internal Revenue Code, respectively, have been prepared and filed. Certified By: Officer Vice President Title July 7,2000 Date -----END PRIVACY-ENHANCED MESSAGE-----