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): June 25, 1998
CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
(as depositor under the Pooling and Servicing
Agreement, dated as of March 1, 1998, providing
for the issuance of Chevy Chase Bank, F.S.B. Mortgage-Backed
Pass-Through Certificates, Series 1998-CCB1)
CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
(Exact name of registrant as specified in its charter)
Delaware 333-33807 13-3320910
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
11 Madison Avenue
New York, New York 10010
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (212) 325-2000
Item 5. Other Events
On June 25, 1998 a scheduled distribution was made from the Trust
to holders of the Class A Certificates. The Trustee has caused to be filed
with the Commission, the Monthly Report dated June 25, 1998.
The Monthly Report is filed pursuant to and in accordance with
(1) numerous no-action letters (2) current Commission policy in the area.
A. Monthly Report Information:
See Exhibit No.1
B. Have any deficiencies occurred? NO.
Date:
Amount:
C. Item 1: Legal Proceedings: NONE
D. Item 2: Changes in Securities: NONE
E. Item 4: Submission of Matters to a Vote of Certificateholders: NONE
F. Item 5: Other Information - Form 10-Q, Part II - Items 1,2,4,5 if
applicable: NOT APPLICABLE
Item 7. Monthly Statements and Exhibits
Exhibit No.
1. Monthly Distribution Report dated June 25, 1998.
Chevy Chase Bank, F. S. B.
Mortgage-Backed Pass-Through Certificates
Series 1998-CCB1
Distribution Date: 25-Jun-98
Beginning Ending
Certificate Certificate
Class Balance Principal Interest Losses Balance
A-I 350,056,799.99 5,471,400.77 1,617,029.21 0.00 344,585,399.22
A-II 194,895,867.06 2,245,328.19 970,673.10 0.00 192,650,538.87
S 544,952,668.31 0.00 152.58 0.00 537,235,939.35
R 0.00 0.00 0.00 0.00 0.00
0.00
TOTAL 544,952,667.05 7,716,728.96 2,587,854.89 0.00 537,235,938.09
* Class S has a notional balance
AMOUNTS PER $1,000 UNIT
Beginning Ending
Certificate Certificate
Class CUSIP Balance Principal Interest Balance
A-I 22540AFP8 984.8960231 15.3939614 4.549563 969.5020617
A-II 22540AFQ6 951.9320721 10.9668817 4.741070 940.9651905
S 972.8478261 0.0000000 0.000272 959.0719454
Original Current
Pass Pass
Through Through
Class Rate Rate
A-I 5.65041% 5.64943%
A-II 6.07595% 6.07103%
S 0.80000% 0.80000%
R 0.00000% 0.00000%
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.
CREDIT SUISSE FIRST BOSTON
MORTGAGE SECURITIES CORP.
By: /s/ Eve Kaplan
Name: Eve Kaplan
Title: Vice President
U.S. Bank National Association
Dated: June 30, 1998
