0001539497-18-001400.txt : 20190221 0001539497-18-001400.hdr.sgml : 20190221 20180828181953 ACCESSION NUMBER: 0001539497-18-001400 CONFORMED SUBMISSION TYPE: CORRESP PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20180828 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Credit Suisse Commercial Mortgage Securities Corp. CENTRAL INDEX KEY: 0001654060 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 475115713 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: ELEVEN MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10010 BUSINESS PHONE: 212-538-1807 MAIL ADDRESS: STREET 1: ELEVEN MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10010 CORRESP 1 filename1.htm

 

 

[LOGO]  

Cadwalader, Wickersham & Taft LLP

227 West Trade Street, Charlotte, NC 28202

Tel +1 704 348 5100 Fax +1 704 348 5200

www.cadwalader.com 

 

August 28, 2018

Katherine Hsu
Office Chief
Office of Structured Finance
United States Securities and Exchange Commission
100 F Street, N.E.
Washington, DC 20549

Re:Credit Suisse Commercial Mortgage Securities Corp.
Registration Statement on Form SF-3 (Commission File No. 333-227081)

Dear Ms. Hsu:

Today, Credit Suisse Commercial Mortgage Securities Corp. (the “Registrant”) filed with the Securities and Exchange Commission electronically via EDGAR the above-referenced registration statement (the “Registration Statement”).

The purpose of the Registration Statement is to (i) file a new registration statement before the Registrant’s current registration statement on Form SF-3 (Commission File No. 333-207361), effective as of December 15, 2015 (the “Prior Registration Statement”), expires pursuant to Rule 415(a)(5) under the Securities Act of 1933, and (ii) pay $994,580.09 in filing fees to be applied to future securitizations. The Registration Statement is substantially similar to the Registrant’s Prior Registration Statement, although it contains certain updated disclosures to take into account changes over the last three years. The Registrant has also added the below language to the form prospectus following the definition of “Mortgaged Property” under the heading “Description of the Mortgage Pool – General”. The Registrant understands that the Staff of the Division of Corporation Finance has previously indicated that this language suggests that loans that would not satisfy the definition of “commercial real estate loan” under Regulation RR, such as the loans found in single-family rental securitizations, could be included in the asset pool. The Registrant confirms that if loans that would not satisfy the definition of “commercial real estate loan” under Regulation RR are included in the asset pool, the retaining sponsor will hold risk retention pursuant to Rule 4 of Regulation RR (standard risk retention), rather than through a third-party purchaser pursuant to Rule 7 of Regulation RR:

For purposes of this prospectus, a Mortgage Loan will be considered secured by a multifamily property or properties if each multifamily property consists of a single parcel or two or more contiguous or non-contiguous parcels that have an aggregate of five or more residential rental units that are collectively managed and operated.

 

Robert Kim     Tel 212-504-6258     Fax +1 212 504-6666     robert.kim@cwt.com

   

 

 

If you require any additional information, please feel free to call me at (212) 504-6258.

Very truly yours,

 

/s/ Robert Kim

 

Robert Kim

 

 

 

 

 

 

Page 2

   

 

 GRAPHIC 2 cwtlogo.jpg GRAPHIC begin 644 cwtlogo.jpg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end GRAPHIC 3 image_002.jpg GRAPHIC begin 644 image_002.jpg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