ASSET SECURITIZATION CORP COM MOR PAS THR CER SER 1997 MDV11
15-15D, 1999-01-29
ASSET-BACKED SECURITIES
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                         UNITED STATES
               SECURITIES AND EXCHANGE COMMISSION
                    Washington, D.C.  20549

                            FORM 15

CERTIFICATION AND NOTICE OF TERMINATION OF REGISTRATION UNDER SECTION
12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR SUSPENSION OF DUTY TO FILE
REPORTS UNDER SECTIONS 13 AND 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

             Commission File Number     33-49370-03                     

                    ASSET SECURITIZATION CORPORATION 
     Commercial Mortgage Pass-Through Certificates, Series 1997-MDVII

          (Exact name of registrant as specified in its charter)

Two World Financial Center, Building B, New York, New York  10281; 212/667-9300

(Address, including zip code, and telephone number, including area code, of 
registrant's principal executive offices)

Class A-1A, A-1B, A-2, A-3, A-4, A-5, A-6, PS-1, B-1, B-1H, CS-1

(Title of each class of securities covered by this Form)

                              None

(Titles of all other classes of securities for which a duty to file reports 
under section 13(a) or 15(d) remains)

Please place an X in the box(es) to designate the appropriate rule provision(s) 
relied upon to terminate or suspend the duty to file reports:

Rule 12g-4(a)(1)(i)    ( )                       Rule 12h-3(b)(1)(i)     ( )
Rule 12g-4(a)(1)(ii)   ( )                       Rule 12h-3(b)(1)(ii)    ( )
Rule 12g-4(a)(2)(i)    ( )                       Rule 12h-3(b)(2)(i)     ( )
Rule 12g-4(a)(2)(ii)   ( )                       Rule 12h-3(b)(2)(i)     ( )
Rule 15-d6             (x) 

Approximate number of holders of record as of the certification or notice date:
125                                         

Pursuant to the requirements of the Securities Exchange Act of 1934 (Name of 
registrant as specified in charter) has caused this certification/notice to be 
signed on its behalf by the undersigned duly authorized person.

Date:   January 28, 1999                     By:                     
                                                  Cindy Dillion
                                                  Vice President 
                                                  Pacific Life Insurance Company

Instruction:  This form is required by Rules 12g-4, 12h-3 and 15d-6 of the 
General Rules and Regulations under the Securities Exchange Act of 1934.  The 
registrant shall file with the Commission three copies of Form 15, one of which 
shall be manually signed.  It may be signed by an officer of the registrant, by 
counsel or by any other duly authorized person.  The name and title of the 
person signing the form shall be typed or printed under the signature.

SEC 2069(8-93)
S:\PROJECTS\CMBSMODL\MD7\SEC.DOC



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