PNC MORTGAGE SEC CORP MORT PASS THR CERT SER 2000-3
8-K, 2000-05-03
ASSET-BACKED SECURITIES
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                   SECURITIES AND EXCHANGE COMMISSION

                          450 Fifth Street, NW
                          Washington, DC  20549

                                FORM 8-K
                             CURRENT REPORT

                 Pursuant to Section 13 or 15(d) of the
                     Securities Exchange Act of 1934

                               May 3, 2000
                   (date of earliest event reported)

                      PNC MORTGAGE SECURITIES CORP.
               as Depositor and Master Servicer under a
                     Pooling and Servicing Agreement
                      dated as of April 1, 2000
                     providing for the issuance of

                              $320,359,333

                  MORTGAGE PASS-THROUGH CERTIFICATES
                             SERIES 2000-3

            Delaware             333-72879            94-2528990
           (State or other       (Commission          (IRS Employer
           jurisdiction of       File Number)         Identification
           Incorporation)                             Number)

                           75 NORTH FAIRWAY DRIVE
                       VERNON HILLS, ILLINOIS  60061

                 (Address of principal executive offices)

            Registrant's telephone number, including area code:

                             (847) 549-6500
Item 5.     Other Events
- ------      ------------

            The tables and materials filed separately, under cover of Form SE
in accordance with Rule 202 of Regulation S-T pursuant to a continuing hardship
exemption, were prepared by Donaldson, Lufkin & Jenrette Securities Corporation
(the "Underwriter") at the request of certain prospective investors, based on
assumptions provided by, and satisfying the special requirements of, such
prospective investors.  Such tables and assumptions may be based on
assumptions that differ from the Structuring Assumptions. Accordingly, such
tables and other materials may not be relevant to or appropriate for
investors other than those specifically requesting them.

Item 7.   Financial Statements and Exhibits
- ------    ---------------------------------

          The following Exhibit is filed separately, under cover of Form SE
(filed May 2, 2000 under CIK #0000314643) in accordance with Rule 202 of
Regulation S-T pursuant to a continuing hardship exemption.

           99.1 Certain Computational Materials prepared by the Underwriter in
connection with PNC Mortgage Securities Corp. Mortgage Pass-Through
Certificates, Series 2000-3.

     Capitalized terms used herein and not otherwise defined shall have the
meanings assigned to them in the Prospectus and Prospectus Supplement of PNC
Mortgage Securities Corp. relating to its Mortgage Pass-Through Certificates,
Series 2000-3.

                                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.

                                           PNC MORTGAGE SECURITIES CORP.


Date: May 3, 2000                           By: \s\ Richard Careaga
                                                ----------------------
                                                Richard Careaga
                                                Second Vice President and
                                                Assistant General Counsel



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