SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                     FORM 10-K



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


(Mark One)
[ x  ] Annual Report Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
For the fiscal year ended DECEMBER 31, 1997

______________________ or

[    ] Transition Report Pursuant to Section 13 or 15d of the Securities
       Exchange Act of 1934
For the transition period from _____________  to ________

Commission file Number 333-33807

     CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.
(Exact name of registrant as specified in its charter)

     Delaware                           13-3320910
(State or other jurisdiction         (I.R.S. Employer
of incorporation or organization)     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

     Securities registered pursuant to Section 12(b) of the Act
           NONE
     Securities registered pursuant to Section 12(g) of the Act
           NONE
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Act of 1934
during the preceding 12 months (or for such shorter period that the registrant
was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.
     x   Yes            No


                                       PART I

Item 2.  Properties
     Not applicable on reliance of Relief Letters

Item 3. Legal Proceedings
        There were no legal proceedings.

Item 4. Submission of Matters to a Vote of Security Holders
        There were no matters submitted to a vote of the Security Holders.

                                    PART II

Item 5. Market for Registrant's Common Equity and Related Stockholder matters
     There was one participant in the DTC system holding positions in the
     Cede certificates.
     The following were Noteholders and Certificateholders of record
     as of the end of the reporting year.
     Chevy Chase Mortgage Backed Pass Through Certificates
     Series 1997-CCB1 Class A        Cede & Co.
     Series 1997-CCB1 Class S        Cede & Co.









     There is no established public trading market for the notes.

Item 9. Changes in and Disagreements with Accountants on Accounting and
Financial Disclosures: Information required by Item 304 of Reg. S-K.

       There were no changes in and/or disagreements with Accountants on
       Accounting and Financial Disclosures.

                                    PART IV

Item 12.  Security Ownership of Certain Beneficial Owners and Management
  The Notes are represented by one or more notes registered in the name 
  of Cede & Co., the nominee of The Depository Trust Company.  An investor
  holding Notes is not entitled to receive a certificate representing such
  Note, except in limited circumstances.  Accordingly, Cede & Co. is the
  sole holder of Notes, which it holds on behalf of brokers, dealers,
  banks and other participants in the DTC system.  Such participants may
  hold Notes for their own accounts or for the accounts of their customers.
     The address of Cede & Co. is:
     Cede & Co.
     c/o The Depository Trust Company
     Seven Hanover Square
     New York, New York 10004

Item 13.  Certain Relationships and Related Transactions.
     There has not been, and there is not currently proposed, any transactions
     or series or transactions, to which any of the Trust, the Registrant,
     the Trustee or the Servicer is a party with any Noteholder who, to the
     knowledge of the Registrant and Servicer, owns of record or beneficially
     more than five percent of the Notes.


Item 14. Exhibits, Financial Statement Schedules, and Reports on Form 8-K

     (a) 1.  Not Applicable
           2.  Not Applicable
           3.  Exhibits
                99.1  Annual Summary Statement
                99.2  Annual Statement as to Compliance.
                99.3  Annual Independent Public
                         Accountant's Servicing Report.

     (b)   Reports on Form 8-K
     The Registrant has filed Current Reports on Form 8-K
     with the Securities and Exchange Commision dated
     October 25, 1997; November 25, 1997; December 26, 1997



     (c)    See (a) 3 above

     (d)    Not Applicable



                      SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) 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.
Chevy Chase Bank F.S.B. Mortgage Backed Pass Through Certificates
Series 1997-CCB1

     /s/  Eve Kaplan, Vice President
          Vice President
     U.S. Bank National Association

Date March 5, 1999


                      EXHIBIT INDEX

     Exhibit Number   Description
              99.1    Annual Summary Statement
              99.2    Annual Statement of Compliance
              99.3    Report of Independent Accountants




       EXHIBIT 99.1 -- Summary of Aggregate Amounts or End of Year
       Amounts for the period ending December 31, 1997

     Chevy Chase Mortgage Backed Pass Through Certificates Series 1997-CCB1
              Summary of Aggregate Amounts or End of Year Amounts

     Pool Balance                     611,386,749.48
     Principal        Collections     116,854,775.18
     Interest         Collections      15,864,304.65
     Servicer         Fees                869,249.12
     Trustee          Fees                  7,417.59
     PPIS                                 308,780.97
     Premium          Fees                127,489.87







     Certificate      Balance        Interest        Principal

     Class A          651,417,417.34   10,140,596.42  76,824,107.32
     Class S                    0.00            0.00           0.00

     Class S Interest Accrual Amount    1,225,954.52




       EXHIBIT 99.2 -- Servicer's Annual Statement of Compliance
     
CHEVY CHASE BANK                             

     	Chevy Chase Bank
	8401 Connecticut Avenue
	Chevy Chase, Maryland 20815



MANAGEMENT'S ASSERTION ON THE MORTGAGE BANKERS ASSOCATION OF 
AMERICA'S MINIMUM SERVICING REQUIREMENTS



As of and for the year ended September 30, 1998, Chevy Chase Bank, 
F.S.B. has complied with the minimum servicing standards set forth 
in the Mortgage Bankers Association of America's Uniform Single 
Attestation Program for Mortgage Bankers.  As of and for this same 
period, Chevy Chase Bank, F.S.B. had in effect a fidelity bond and 
errors and omissions policy in the amount of $40,000,000 and 
$10,000,000, respectively.




/s/ Alexander M. Boyle
    Alexander M. Boyle, 
    Vice Chairman

/s/ Stephen Halpin
    Stephen R. Halpin, Jr.
    Executive Vice Presidend and
    Chief Financial Officer
   
/s/ Vicki L. Parry
    Vicki L. Parry
    Vice President

November 18, 1998


      Exhibit 99.3    Report of Independent Accountants


ARTHUR ANDERSON LLP

REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS


To the Board of Directors of
Chevy Chase Bank, F.S.B.



We have examined management's assertion about Chevy Chase Bank, F.S.B.'s 
compliance with the minimum servicing standards identified in the Mortgage 
Bankers Association of America's Uniform Single Attestation Program for 
Mortgage Bankers (USAP) and that Chevy Chase Bank, F.S.B. had in effect 
a fidelity bond and errors and omissions policy in the amount of 
$40,000,000 and $10,000,000, respectively, as of and for the year ended 
September 30, 1998 included in the accompanying Management's Assertion 
on to Mortgage Bankers Association of America's Minimum Servicing 
Requirements.  Management is responsible for Chevy Chase Bank, F.S.B.'s 
compliance with those minimum servicing standards and for maintaining a 
fidelity bond and errors and omissions policy.  Our responsibility is to
express an opinion on management's assertion based on our examination.

Our examination was made in accordance with standards established by the 
American Institute of Certified Public Accountants and accordingly, 
included examining, on a test basis, evidence about Chevy Chase Bank, 
F.S.B.'s compliance with the minimum servicing standards and performing 
such other procedures as we considered necessary in the circumstances.  
We believe that our examination provides a reasonable basis for our 
opinion.  Our examination does not provide a legal determination on 
Chevy Chase Bank, F.S.B.'s compliance with the minimum servicing standards.

In our opinion, management's assertion that Chevy Chase Bank, F.S.B. 
complied with the aforementioned minimum servicing standards and that Chevy 
Chase Bank, F.S.B. had in effect a fidelity bond and errors and omissions 
policy in the amount of $40,000,000 and $10,000,000, respectively, as of 
and for the year ended September 30, 1998 is fairly stated, in all material 
respects.

                      /s/ Arthur Andersen LLP
Washington, D.C.
November 18, 1998