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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 24, 1996
(date of earliest event reported)
PNC MORTGAGE SECURITIES CORP.
as Depositor and Master Servicer under a
Pooling and Servicing Agreement
dated as of May 1, 1996
providing for the issuance of
$326,100,820.05
MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 1996-1
Delaware 33-84896 36-4080773
(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
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Item 1. Changes in Control of Registrant.
Not Applicable.
Item 2. Acquisition or Disposition of Assets.
Not Applicable.
Item 3. Bankruptcy or Receivership.
Not Applicable.
Item 4. Changes in Registrant's Certifying Accountant.
Not Applicable.
Item 5. Other Events.
Not Applicable.
Item 6. Resignations of Registrant's Directors.
Not Applicable.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Not Applicable.
(b) Not Applicable.
(c) Exhibits.
23.1 The consent of Coopers & Lybrand L.L.P., independent
accountants, to the incorporation by reference of certain
financial statements of Financial Security Assurance Inc.
and its subsidiaries.
Item 8. Change in Fiscal Year.
Not Applicable.
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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 hereunto duly authorized.
PNC MORTGAGE SECURITIES CORP.
Date: May 24, 1996 By: /s/ Thomas G. Lehmann
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Thomas G. Lehmann
Vice President and General Counsel
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EXHIBIT INDEX
Exhibit
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23.1 The consent of Coopers & Lybrand L.L.P.,
independent accountants, to the
incorporation by reference of certain
financial statements of Financial Security
Assurance Inc. and its subsidiaries.
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EXHIBIT 23.1
[COPPERS & LYBRAND LETTERHEAD]
_______________
We consent to the incorporation by reference in this Prospectus Supplement of
PNC Mortgage Securities Corp. relating to Mortgage Pass-Through Certificates.
Series 1996-1 of our report dated January 17, 1996 on our audits of the
consolidated financial statements of Financial Security Assurance Inc. and
Subsidiaries as of December 31, 1995 and 1994 and for each of the three
years in the period ended December 31, 1995. We also consent to the
reference to our Firm under the caption "Experts".
/s/ COOPERS & LYBRAND L.L.P.
COOPERS & LYBRAND L.L.P.
New York, New York
May 23, 1996
