UNITED STATES
		    SECURITIES AND EXCHANGE COMMISSION
			   Washington, D.C.  20549

				  FORM 10-K

X    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE
     SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 1996
	  OR

     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES 
     EXCHANGE ACT OF 1934

For the transition period from          to              

Commission File Number:  33-99612

CS First Boston Mortgage Securities Corporation, Series 1996-1 Trust
(Exact name of registrant as specified in its charter)

	     New York                              52-1988169
(State or other jurisdiction of                   (I.R.S. Employer
incorporation or organization)                    Identification No.)

c/o Norwest Bank Minnesota, N.A.
11000 Broken Land Parkway
Columbia, Maryland                            21044
(Address of Principal                         (Zip Code)
Executive Offices)

Registrant's telephone number, including area code:  (410) 884-2000


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 
Exchange 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.
       Yes XX          No __

Indicate by check mark if disclosure of delinquent filers pursuant to 
Item 405 of Regulation S-K (Section 229.405 of this chapter) is not 
contained herein, and will not be contained, to the best of registrant's 
knowledge, in definitive proxy or information statements incorporated by 
reference in Part III of this Form 10-K or any amendment to this Form 10-K.
       Not applicable

Aggregate market value of voting stock held by non-affiliates of the 
registrant as of December 31, 1996:
       Not Applicable

Number of shares of common stock outstanding as of December 31, 1996:  
       Not Applicable



				 PART I

Item 2.  Properties

	 The Issuer has no physical properties.  The CS First Boston 
	 Mortgage Securities Corporation, Series 1996-1  securities 
	 represent in the aggregate the entire beneficial ownership 
	 interest in a trust consisting primarily of  three classes (or 
	 portions of classes) of mortgage pass-through certificates, each 
	 of which is part of one of 13 series of mortgage pass-through 
	 certificates initially sold by the Resolution Trust Corporation 
	 and acquired by the Depositor in the secondary market. 

Item 3.  Legal Proceedings

	 None.

Item 4.  Submission of Matters to a Vote of Security Holders

	 No matters were submitted to a vote of holders of equity interest 
	 during the period covered by this report through the solicitation 
	 of proxies or otherwise.


			       PART II

Item 5.  Market for the Registrant's Common Equity and Related 
	 Stockholder Matters.

	 The Issuer does not issue stock.  Presently, there is no 
	 established trading market for the Trust's securities.  The number 
	 of holders for CS First Boston Mortgage Securities Corporation, 
	 Series 1996-1 Trust was 11 as of December 31, 1996.

Item 8.  Financial Statements and Supplementary Data.

	 Omitted.


Item 9.  Changes In and Disagreement with Accountants on Accounting 
	 and Financial Disclosure.

	 None.



				 PART III

Item 12.  Security Ownership of Certain Beneficial Owners and Management.

	  None.


				 PART IV

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

	 (a)  Exhibits
	      The Following exhibits are or will be provided.

	     (Ex-99.1)  Annual Report of Independent Public Accountants 
			as to master servicing activities or servicing 
			activities or certificate administration, as 
			applicable, of:

			No exhibit will be attached as the holdings of 
			the trust are restricted to securities only.  The 
			Annual Report of Independent Public Accountants 
			is inapplicable as a result.


	     (Ex-99.2)  Annual Statement of Compliance with obligations 
			under the Pooling and Servicing Agreement or 
			servicing agreement, as applicable.

			No exhibit will be attached as the holdings of the 
			trust are restricted to securities only.  The 
			Annual Report of Independent Public Accountants is 
			inapplicable as a result.

	  (b)  No reports on From 8-K have been filed during the last 
	       quarter of the period covered by this report.

	  (c)  Omitted.

	  (d)  Omitted.



				  SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) 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.

	 CS First Boston Mortgage Securities Corp., Series 1996-1 
				(Registrant)

				      By:  Norwest Bank Minnesota, N.A.
					   Certificate Administrator

				      By:  /s/ Sherri J. Sharps

Date:  March 21, 1997                 Name:  Sherri J. Sharps

				      Title:  Vice president



SUPPLEMENTAL INFORMATION TO BE FURNISHED WITH REPORTS FILED PURSUANT TO 
SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 OF REGISTRANTS WHICH 
HAVE NOT REGISTERED SECURITIES PURSUANT TO SECTION 12 OF SUCH ACT.

The registrant has not sent an annual report or proxy material to its 
security holders.  The Registrant will not send an annual report or 
proxy material to its security holders subsequent to the filing of this 
form.