SECURITIES AND EXCHANGE COMMISSION
                    WASHINGTON, D.C.  20549
                               
                           FORM 10-K
                               
Annual Report Pursuant to Section 13 or 15(d) of the Securities
                     Exchange Act of 1934
For the fiscal year ended December 31, 1998 ($250 fee required)
                               
               Commission File Number 333-19591
                               
       AMRESCO Commercial Mortgage Funding I Corporation
       -------------------------------------------------
    (Exact Name of registrant as specified in its charter)
                               
Delaware                                   75-2683929
(State or Other Juris-                  (I.R.S. Employer
diction of Incorporation)               Identification Number)

       700 N. Pearl St. Suite 2400 Dallas, Texas  75201
---------------------------------------------------------------
            (Address of Principal Executive Office)

Registrant's telephone number, including area code: (214) 953-7700


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      X        No  ______

Indicate by check mark if disclosure of delinquent filers
pursuant to Item 405 of Regulation S-K 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, 1997.
Not applicable.

Number of shares of common stock outstanding as of December 31,
1997.  Not applicable.

                       TABLE OF CONTENTS


Part I

Item 1.   Business                                            3
Item 2.   Properties                                          3
Item 3.   Legal Proceedings                                   3
Item 4.   Submission of Matters to a Vote of Security Holders 3

Part II

Item 5.   Market for Registrant's Common Equity and Related
               Shareholder Matters                            4
Item 6.   Selected Financial Data                             4
Item 7.   Management's Discussion and Analysis of Financial
          Condition And Results of Operations                 4
Item 8.   Financial Statements and Supplementary Data         4
Item 9.   Changes in and Disagreements with Accountants on 
           Accounting And Financial Disclosure                4

Part III

Item 10.  Directors and Executive Officers of the Registrant  4 
Item 11.  Executive Compensation                              4
Item 12.  Security Ownership of Certain Beneficial Owners and
               Management                                     4
Item 13.  Certain Relationships and Related Transactions      4

Part IV

Item 14.  Exhibits, Financial Statements Schedules and Reports
          on Form 8-K                                         5

          Signatures                                          6

          Exhibit Index                                       7

                            PART I


ITEM 1.   BUSINESS

          This Annual Report on Form 10K relates to the Trust
Fund formed, and the Commercial Mortgage Pass-Through
Certificates Series 1997-C1 issued pursuant to a Pooling and
Servicing Agreement, dated as of June 1, 1997 (the "Pooling and
Servicing Agreement"), by and among AMRESCO Commercial Mortgage
Funding I Corporation (the "Company"), as depositor, AMRESCO
Services, L.P. a division of AMRESCO Management, Inc. as
servicer, LaSalle National Bank as trustee, and ABN AMRO Bank,
N.V., as fiscal agent.  The Certificates have been registered
pursuant to the Act under a Registration Statement on Form S-3
(No. 333-19591) (the "Registration Statement").

          Capitalized terms used herein and not defined have
the same meanings ascribed to such terms in the Pooling and
Servicing Agreement.

          This Annual Report is being filed by the Servicer, in
its capacity as such under the Pooling and Servicing Agreement,
on behalf of Registrant.  The information reported and
contained herein has been supplied to the Servicer by one or
more of the Borrowers or other third parties without
independent review or investigation by the Servicer.  Pursuant
to the Pooling and Servicing Agreement, the Servicer is not
responsible for the accuracy or completeness of such
information.


ITEM 2.   PROPERTIES

          Not applicable.


ITEM 3.   LEGAL PROCEEDINGS

          Except for claims arising in the ordinary course of
business and which are covered by liability insurance, there
are no material pending legal proceedings involving the Trust
Fund, the Mortgages comprising the Trust Fund or the Trustee or
the Servicer with respect to or affecting their respective
duties under the Pooling and Servicing Agreement.


ITEM 4.   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

          No matters were submitted to a vote of
Certificateholders during the fiscal year covered by this
report.

                            PART II


ITEM 5.   MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED
          STOCKHOLDER MATTERS

          There was one registered holder of the Certificate
representing an equity interest in the Trust as of December 31,
1998.  To the Registrant's knowledge, as of that date, there
was no principal market in which the Certificates representing
an equity interest in the Trust were traded.


ITEM 6.   SELECTED FINANCIAL DATA

          Not applicable.


ITEM 7.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
          CONDITION AND RESULTS OF OPERATIONS

          Not applicable.


ITEM 8.   FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

          Not applicable.


ITEM 9.   CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON
          ACCOUNTING AND FINANCIAL DISCLOSURE

          None.


                           PART III
                               
          The information required by Items 10, 11, 12 and 13
is not applicable as the Trust Fund does not have directors or
officers and Certificateholders have no right to vote (except
with respect to required consents to certain amendments to the
Pooling and Servicing Agreement and upon certain events of
default) or control the Trust Fund.


                            PART IV
                               

ITEM 14.  EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS
          ON FORM 8-K

(a)  1.   Servicer's Annual Statement of compliance for the
          period ended 12/31/98.

     2.   Servicer's Independent Accountant's Report on
          Servicer's servicing activities.

(b)  Current Reports on Form 8-K for the Trust were filed on
     January 26, 1998; February 17, 1998;
     March 25, 1998; April 17, 1998; May 27, 1998; June 17,
     1998; July 17, 1998; August 26, 1998;
     September 1, 1998; October 20, 1998; November 17, 1998;
     and December 18, 1998.

(c)  No consent of auditors with respect to the audit reports
     filed herewith are required.

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 behalf of the Registrant by the
undersigned thereunto duly authorized.

                         AMRESCO MORTGAGE CAPITAL, INC.
                         AS GENERAL PARTNER OF AMRESCO
                         SERVICES, L.P., IN ITS CAPACITY AS
                         SERVICER UNDER THE POOLING AND
                         SERVICING AGREEMENT
                         ON BEHALF OF AMRESCO COMMERCIAL
                         MORTGAGE FUNDING I CORPORATION,
                         REGISTRANT


                         By:
                        /s/     Sean Reilly   
                         Name:  Sean Reilly
                         Title: Vice President




                         By:
                             /s/ John W. Benson 
                         Name:   John W. Benson
                         Title:  Assistant Secretary and
                                 Deputy General Counsel


     Date:  March 17, 1999

                         EXHIBIT INDEX



Exhibit No.    Description

99.1      Servicer's Annual Statement of Compliance.

99.2      Servicer's Independent Accountant's Report on
          Servicer's servicing activities.