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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 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
in accordance with Rule 202 of Regulation S-T pursuant to a continuing
hardship exemption.
P 99.1 Certain Computational Materials prepared by the
Underwriter in connection with PNC Mortgage Securities
Corp. Mortgage Pass-Through Certificates, Series 1996-1.
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 1996-1.
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 24, 1996 By: /s/ Thomas G. Lehmann
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Thomas G. Lehmann
Vice President and General Counsel
