NISTAR Sells $285MM of MBS

Norwest Integrated Structured Assets Inc., Frederick, Md., has sold approximately $285 million of securities backed by 10- to 30-year fixed-rate alternative-A mortgage loans, NISTAR has announced.NISTAR 1998-02, which is scheduled to settle Sept. 29, was underwritten by Donaldson, Lufkin & Jenrette. Credit enhancement will be provided via a senior/subordinated structure. NISTAR -- an affiliate of Norwest Mortgage Inc., Des Moines, Iowa -- said it will securitize chiefly residential first-lien mortgage loans originated under the Norwest Alternative Financing Program, which is targeted at borrowers who would not qualify under Norwest's standard jumbo or agency underwriting guidelines. Norwest's website address is http://www.securitieslink.net.