<PAGE>
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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) February 16,1998
DLJ Commercial Mortgage Corp.
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(Exact Name of Registrant as Specified in Its Charter)
Delaware 333-32019 13-3956945
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
277 Park Avenue, New York, New York 10172
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (212) 892-3000
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(Former Name or Former Address, if Changed Since Last Report)
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<PAGE>
Item 5. Other Events.
On March 2, 1998, a single series of certificates, entitled DLJ
Commercial Mortgage Corp., Commercial Mortgage Pass-Through Certificates, Series
1998-CF1 (the "Certificates"), was issued pursuant to a pooling and servicing
agreement (the "Pooling and Servicing Agreement"), entered into by and among DLJ
Commercial Mortgage Corp. (the "Registrant") as depositor, Banc One Mortgage
Capital Markets, LLC, as servicer, Clarion Partners, LLC, as special servicer,
and Norwest Bank Minnesota, National Association, as trustee and REMIC
administrator. Certain classes of the Certificates (the "Underwritten
Certificates") are being registered under the Registrant's registration
statement on Form S-3 (no. 333-32019) and have been sold to Donaldson, Lufkin &
Jenrette Securities Corporation (the "Underwriter") pursuant to an underwriting
agreement entered into by and between the Registrant and the Underwriter.
In connection with its expected sale of the Underwritten Certificates,
the Underwriter has advised the Registrant that it has furnished to prospective
investors certain information attached hereto as Exhibits 99.1 and 99.2 that may
be considered "Computational Materials" (as defined in the no-action letter
issued by the Division of Corporation Finance of the Securities and Exchange
Commission (the "Commission") to Kidder, Peabody Acceptance Corporation I,
Kidder, Peabody & Co. Incorporated, and Kidder Structured Asset Corporation and
made publicly available May 20, 1994 and the no-action letter issued by the
Division of Corporation Finance of the Commission to the Public Securities
Association and made publicly available May 27, 1994) and "ABS Term Sheets" (as
defined in the no-action letter issued by the Division of Corporation Finance of
the Commission to the Public Securities Association and made publicly available
February 17, 1995).
The Computational Materials and ABS Term Sheets attached hereto have
been prepared and provided to the Registrant by the Underwriter. The information
in such Computational Materials and ABS Term Sheets has been superseded by the
final Prospectus Supplement relating to the Underwritten Certificates (to the
extent the information in such Computational Materials and ABS Term Sheets is
inconsistent with the information in the Prospectus Supplement) and will be
superseded by any other comparable information subsequently filed with the
Commission. To the extent any Computational Materials and ABS Term Sheets
previously filed by the Registrant with respect to the Underwritten Certificates
are inconsistent with the Computational Materials and ABS Term Sheets attached
hereto, such previously filed Computational Materials and ABS Term Sheets are
superseded by the Computational Materials and ABS Term Sheets attached hereto.
Item 7. Financial Statements and Exhibits.
(a) Financial statements of businesses acquired:
Not applicable.
(b) Pro forma financial information:
Not applicable.
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<PAGE>
(c) Exhibits:
Exhibit No. Description
99.1 Computational Materials prepared by Donaldson, Lufkin &
Jenrette Securities Corporation.*
99.2 ABS Term Sheets prepared by Donaldson, Lufkin & Jenrette
Securities Corporation.
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* Filed on March 4, 1998, under cover of Form SE pursuant to and under Rule 311
of Regulation S-T.
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<PAGE>
SIGNATURES
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, thereunto duly authorized.
Date: March 2, 1998
DLJ COMMERCIAL MORTGAGE CORP.
By: /s/ N. Dante LaRocca
---------------------------------------------
Name: N. Dante LaRocca
Title: Senior Vice President
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<PAGE>
EXHIBIT INDEX
The following exhibits are filed herewith:
Exhibit No. Page No.
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99.1 Computational Materials prepared by Donaldson,
Lufkin & Jenrette Securities Corporation.*
99.2 ABS Term Sheets prepared by Donaldson, Lufkin &
Jenrette Securities Corporation.
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* Filed on March 4, 1998, under cover of Form SE pursuant to and under Rule 311
of Regulation S-T.
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<PAGE>
Donaldson, Lufkin & Jenrette
Donaldson, Lufkin & Jenrette Securities Corporation 277 Park Avenue,
New York, New York 10172
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Real Estate Finance Group
COMMERCIAL MORTGAGE TRADING
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DLJCMC 1998-CF1
"Column Conduit VII"
TERM SHEET
Settlement Date is 3/5/98
Dated Date is 3/1/98
First Pay is 4/15/98
REVISED
<TABLE>
<CAPTION>
($) Stated Avg
Class S&P/FT/MD Balance CUSIP Coupon Final Clearing Life Spread Index Price Yield
------ --------------- ---------- ----- ------ ------- -------- ---- ------- ----- ------- -----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CP AAA/AAA/Aaa 482,300,000 * 23322BAA6 .9064 4/15/05 DTC 7.1 82 Curve 5-01+ 6.341
S AAA/AAA/Aaa 838,800,140 * 23322BAB4 .7181 1/15/18 DTC 9.9 325 Curve 4-13 8.834
A-1A AAA/AAA/Aaa 125,000,000 23322BAC2 6.14 10/15/06 DTC 5.2 63 5 Yr 100-08 6.103
A-1B AAA/AAA/Aaa 466,300,000 23322BAD0 6.41 2/15/08 DTC 9.7 73 10 Yr 101-01 6.316
A-2 AA/AA/Aa2 50,400,000 23322BAE8 6.59 2/15/08 DTC 9.9 92 10 Yr 101-00 6.506
A-3 A/A/A2 50,300,000 23322BAF5 6.70 2/15/08 DTC 9.9 103 10 Yr 101-00 6.616
B-1 BBB/BBB/Baa2 41,900,000 23322BAG3 7.06 11/15/09 DTC 10.1 140 10 Yr 100-31+ 6.986
B-2 BBB-/nr/Baa3 14,700,000 23322BAH1 7.33 1/15/10 DTC 11.8 165 Curve 101-01+ 7.261
B-3 BB+/BB+/Ba1 10,000,000 23322BAJ7 7.60 6/15/10 Physical 11.9 225 Curve 98-08+ 7.862
B-4 BB/BB/nr 27,100,000 23322BAK4 7.60 1/15/13 Physical 14.3 250 Curve 95-26+ 8.146
B-5 BB-/nr/nr 15,000,000 23322BAL2 6.41 9/15/17 Physical 17.2 Sold Sold Sold
B-6 B/nr/nr 15,000,000 23322BAM0 6.41 11/15/17 Physical 19.7 Sold Sold Sold
B-7 nr/B-/nr 6,300,000 23322BAN8 6.41 11/15/17 Physical 19.7 Sold Sold Sold
C nr/nr/nr 16,800,140 23322BAP3 6.41 1/15/18 Physical 19.7 Sold Sold Sold
------------
Total: $838,800,140
============
</TABLE>
*Notional
Treasury Curve
----------------
3 YR 5.39
5 YR - 1/03 5.47
10 YR - 8/07 5.58
<PAGE>
Donaldson, Lufkin & Jenrette
Donaldson, Lufkin & Jenrette Securities Corporation
277 Park Avenue, New York, New York 10172
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Real Estate Finance Group
Commercial Mortgage Trading
DLJMAC 1998-CF1
"Column Conduit VII"
TERM SHEET
Settlement Date is 3/5/98
Dated Date is 3/1/98
First Pay is 4/15/98
<TABLE>
<CAPTION>
($) Stated Avg
Class S&P/FT/MD Balance CUSIP Coupon Final Clearing Life Spread Index Price Yield
- - ----- --------- ------- ----- ------ ----- -------- ---- ------ ----- ----- -----
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
CP AAA/AAA/Aaa 482,300,000 * 23322BAA8 .9064 4/15/05 DTC 7.1 82 Curve 5-01+ 6.341
S AAA/AAA/Aaa 838,796,331 * 23322BAB4 .7181 1/15/18 DTC 9.9 325 Curve 4-13 8.834
A-1A AAA/AAA/Aaa 125,000,000 23322BAC2 6.14 10/15/06 DTC 5.2 63 5 Yr 100-08 6.103
A-1B AAA/AAA/Aaa 466,300,000 23322BAD0 6.41 2/15/08 DTC 9.7 73 10 Yr 101-01 6.316
A-2 AA/AA/Aa2 50,400,000 23322BAE8 6.59 2/15/08 DTC 9.9 92 10 Yr 101-00 6.506
A-3 A/A/A2 50,300,000 23322BAF5 6.70 2/15/08 DTC 9.9 103 10 Yr 101-00 6.616
B-1 BBB/BBB/Baa2 41,900,000 23322BAG3 7.06 11/15/09 DTC 10.1 140 10 Yr 100-31+ 6.986
B-2 BBB-/nr/Baa3 14,700,000 23322BAH1 7.33 1/15/10 DTC 11.8 165 Curve 101-01+ 7.261
B-3 BB+/BB+/Ba1 10,000,000 TBA 7.60 6/15/10 Physical 11.9 225 Curve 98-08+ 7.862
B-4 BB/BB/nr 27,100,000 TBA 7.60 1/15/13 Physical 14.3 250 Curve 95-26+ 8.146
B-5 BB-/nr/nr 15,000,000 TBA 6.41 9/15/17 Physical 17.2 Sold Sold Sold
B-6 B/nr/nr 15,000,000 TBA 6.41 11/15/17 Physical 19.7 Sold Sold Sold
B-7 nr/B-/nr 6,300,000 TBA 6.41 11/15/17 Physical 19.7 Sold Sold Sold
C nr/nr/nr 16,796,331 TBA 6.41 1/15/18 Physical 19.7 Sold Sold Sold
----------
Total: $838,800,140
============
*Notional
Treasury Curve
--------------
3 YR 5.39
5 YR - 1/03 5.47
10 YR - 8/07 5.58
</TABLE>
