SECURITIES AND EXCHANGE COMMISSION

                           Washington, DC 20549

                                FORM 8-K
                             CURRENT REPORT

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

                             January 30, 2001
                    (date of earliest event reported)

                       PNC MORTGAGE SECURITIES CORP.
                 as Depositor and Master Servicer under a
                     Pooling and Servicing Agreement
                       dated as of January 1, 2001
                      providing for the issuance of

                              $698,847,271

                   MORTGAGE PASS-THROUGH CERTIFICATES
                             SERIES 2001-1

               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 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.

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 Credit Suisse First Boston 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 6.	Resignation of Registrant's Directors. Not applicable.

Item 7.	Financial Statements and Exhibits.

The following Exhibit is filed separately, under cover of Form SE
(filed Januay 29, 2001 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 2001-1.

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 2001-1.

Item 8.	Change in Fiscal Year. Not applicable.

Item 9.	Sales of Equity Securities Pursuant to Regulation S. Not applicable.


                           	     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.

Dated: January 30, 2001.

                                      PNC MORTGAGE SECURITIES CORP.
                                      (Registrant)

                                      By: \s\Thomas G. Lehmann
                                      -----------------------------------
                                      Thomas G. Lehmann
                                      Vice President and
                                      General Counsel
                                      (Authorized Officer)
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{"company-data": {"conformed-name": "PNC MORTGAGE SECURITIES CORP MORT PASS THRO CERT SER 2000-9", "cik": "0001130827", "assigned-sic": "6189", "irs-number": "364185795", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-72879-17", "film-number": "1518917"}, "business-address": {"street1": "75 N FAIRWAY DR", "city": "VERNON HILLS", "state": "IL", "zip": "60061", "phone": "8475496500"}, "mail-address": {"street1": "75 N FAIRWAY DR", "city": "VERNON HILLS", "state": "IL", "zip": "60061"}}
SECURITIES AND EXCHANGE COMMISSION

                           Washington, DC 20549

                                FORM 8-K
                             CURRENT REPORT

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

                             January 30, 2001
                    (date of earliest event reported)

                       PNC MORTGAGE SECURITIES CORP.
                 as Depositor and Master Servicer under a
                     Pooling and Servicing Agreement
                       dated as of January 1, 2001
                      providing for the issuance of

                              $698,847,271

                   MORTGAGE PASS-THROUGH CERTIFICATES
                             SERIES 2001-1

               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 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.

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 Credit Suisse First Boston 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 6.	Resignation of Registrant's Directors. Not applicable.

Item 7.	Financial Statements and Exhibits.

The following Exhibit is filed separately, under cover of Form SE
(filed Januay 29, 2001 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 2001-1.

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 2001-1.

Item 8.	Change in Fiscal Year. Not applicable.

Item 9.	Sales of Equity Securities Pursuant to Regulation S. Not applicable.

                           	     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.

Dated: January 30, 2001.

                                      PNC MORTGAGE SECURITIES CORP.
                                      (Registrant)

                                      By: \s\Thomas G. Lehmann
                                      -----------------------------------
                                      Thomas G. Lehmann
                                      Vice President and
                                      General Counsel
                                      (Authorized Officer)