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, 1998 or

/   / TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
      SECURITIES EXCHANGE ACT OF 1934


      Commission File No.:   333-65481-01

               Norwest Asset Securities Corporation
                Mortgage Pass-Through Certificates
                  Series  1998-31       Trust
        (Exact name of registrant as specified in its charter)



New York                          52-2151948
(State or other jurisdiction     (I.R.S. Employer
 of incorporation or              Identification  No.)
 organization)

c/o Norwest 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 25, 1999,  on behalf of
Norwest Asset Securities  Corporation Mortgage Pass-Through  Certificates Series
1998-31 Trust  established  pursuant to a Pooling and Servicing  Agreement among
NORWEST  ASSET  SECURITIES  CORPORATION  (Seller)  and NORWEST  BANK  MINNESOTA,
NATIONAL  ASSOCIATION (Master Servicer) and FIRST UNION NATIONAL BANK (Trustee),
pursuant to which the Norwest Asset Securities Corporation Mortgage Pass-Through
Certificates  Series 1998-31 Trust  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, 1998.

                     a)   BANCOKLAHOMA MTG <F1>
                     b)   BANKNORTH <F1>
                     c)   COUNTRYWIDE FUNDING <F1>
                     d)   FT MTG COMPANIES <F1>
                     e)   HIBERNIA NATIONAL BANK <F1>
                     f)   HOMESIDE LENDING INC (FL) <F1>
                     g)   HUNTINGTON MTG CO <F1>
                     h)   NATIONAL CITY MTG CO <F1>
                     i)   NORTH AMERICAN MTG <F1>
                     j)   NORWEST MTG INC <F1>
                     k)   PLYMOUTH SAVINGS BANK <F1>

              (99.2) Report of Management as to Compliance with
                     Minimum Servicing Standards for the year
                     ended December 31, 1998.

                     a)   BANCOKLAHOMA MTG <F1>
                     b)   BANKNORTH <F2>
                     c)   COUNTRYWIDE FUNDING <F1>
                     d)   FT MTG COMPANIES <F1>
                     e)   HIBERNIA NATIONAL BANK <F2>
                     f)   HOMESIDE LENDING INC (FL) <F1>
                     g)   HUNTINGTON MTG CO <F1>
                     h)   NATIONAL CITY MTG CO <F1>
                     i)   NORTH AMERICAN MTG <F1>
                     j)   NORWEST MTG INC <F1>
                     k)   PLYMOUTH SAVINGS BANK <F1>

              (99.3) Annual Statements of Compliance under the
                     Pooling and Servicing Agreements for the
                     year ended December 31, 1998.

                     a)   BANCOKLAHOMA MTG <F1>
                     b)   BANKNORTH <F1>
                     c)   COUNTRYWIDE FUNDING <F1>
                     d)   FT MTG COMPANIES <F1>
                     e)   HIBERNIA NATIONAL BANK <F1>
                     f)   HOMESIDE LENDING INC (FL) <F1>
                     g)   HUNTINGTON MTG CO <F1>
                     h)   NATIONAL CITY MTG CO <F1>
                     i)   NORTH AMERICAN MTG <F1>
                     j)   NORWEST MTG INC <F1>
                     k)   PLYMOUTH SAVINGS BANK <F1>

              (99.4) Aggregate Statement of Principal and
                     Interest Distributions to Certificate
                     Holders.<F3>

                     No distributions were made to Certificate
                     Holders during the fiscal period covered
                     by this report.

            (b)  No reports on Form 8-K have been filed during
                 the last quarter of the period covered by
                 this report.

            (c)  Not applicable.

            (d)  Omitted.

<F1>  Filed herewith.

<F2>  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 covered by this report:  and (ii) will
      be included in an amendment to this report on Form 10-K/A to be
      filed within 30 days of the Reporting Person's receipt of such
      document.

<F3>  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  1998-31 Trust

Signed:   Norwest Bank Minnesota, N.A., as Master Servicer

By:   Sherri J. Sharps, Vice President
By:  /s/  Sherri J. Sharps, Vice President

Dated:  December 15, 1999


Item 14.  Exhibits, Financial Statement Schedules, and Reports
          on Form 8-K.

Exhibits
Exhibit No.

              (99.1) Annual  Independent  Accountants'  Servicing Reports
                     concerning  servicing activities for the year ended
                     December 31, 1998.

                     a)   BANCOKLAHOMA MTG <F1>
                     b)   BANKNORTH <F1>
                     c)   COUNTRYWIDE FUNDING <F1>
                     d)   FT MTG COMPANIES <F1>
                     e)   HIBERNIA NATIONAL BANK <F1>
                     f)   HOMESIDE LENDING INC (FL) <F1>
                     g)   HUNTINGTON MTG CO <F1>
                     h)   NATIONAL CITY MTG CO <F1>
                     i)   NORTH AMERICAN MTG <F1>
                     j)   NORWEST MTG INC <F1>
                     k)   PLYMOUTH SAVINGS BANK <F1>

              (99.2) Report of Management as to Compliance with Minimum
                     Servicing  Standards for the year ended December 31, 1998.

                     a)   BANCOKLAHOMA MTG <F1>
                     b)   BANKNORTH <F2>
                     c)   COUNTRYWIDE FUNDING <F1>
                     d)   FT MTG COMPANIES <F1>
                     e)   HIBERNIA NATIONAL BANK <F2>
                     f)   HOMESIDE LENDING INC (FL) <F1>
                     g)   HUNTINGTON MTG CO <F1>
                     h)   NATIONAL CITY MTG CO <F1>
                     i)   NORTH AMERICAN MTG <F1>
                     j)   NORWEST MTG INC <F1>
                     k)   PLYMOUTH SAVINGS BANK <F1>

              (99.3) Annual Statements of Compliance under the Pooling
                     and Servicing  Agreement for the year ended
                     December 31, 1998.

                     a)   BANCOKLAHOMA MTG <F1>
                     b)   BANKNORTH <F1>
                     c)   COUNTRYWIDE FUNDING <F1>
                     d)   FT MTG COMPANIES <F1>
                     e)   HIBERNIA NATIONAL BANK <F1>
                     f)   HOMESIDE LENDING INC (FL) <F1>
                     g)   HUNTINGTON MTG CO <F1>
                     h)   NATIONAL CITY MTG CO <F1>
                     i)   NORTH AMERICAN MTG <F1>
                     j)   NORWEST MTG INC <F1>
                     k)   PLYMOUTH SAVINGS BANK <F1>

              (99.4) Aggregate Statement of Principal and
                     Interest Distributions to Certificate
                     Holders.<F3>

<F1>  Filed herewith.

<F2>  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 covered by this report:  and (ii) will
      be included in an amendment to this report on Form 10-K/A to be
      filed within 30 days of the Reporting Person's receipt of such
      document.

<F3>  Previously filed.