<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>r77b.txt
<TEXT>



Report of Independent Accountants

To the Shareholders and Trustees of the
PIMCO Commercial Mortgage Securities Trust, Inc.

In planning and performing our audit of the financial statements
of PIMCO Commercial Mortgage Securities Trust, Inc. (the "Fund")
for the year ended December 31, 2001, we considered its internal
control, including control activities for safeguarding securities, in
order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply
with the requirements of Form N-SAR, not to provide assurance
on internal control.

The management of the Fund is responsible for establishing
and maintaining internal control.  In fulfilling this responsibility,
estimates and judgments by management are required to assess the
expected benefits and related costs of controls.  Generally, controls
that are relevant to an audit pertain to the entity's objective
of preparing financial statements for external purposes that are
fairly presented in conformity with generally accepted accounting
principles.  Those control activities include the safeguarding of assets
against unauthorized acquisition, use or disposition.

Because of inherent limitations in internal control, errors or fraud
may occur and not be detected.  Also, projection of any evaluation
of internal control to future periods is subject to the risk that it may
become inadequate because of changes in conditions or that the
effectiveness of the design and operation may deteriorate.

Our consideration of internal control would not necessarily disclose
all matters in internal control that might be material weaknesses
under standards established by the American Institute of Certified
Public Accountants.  A material weakness is a condition in which
the design or operation of one or more of the internal control
components does not reduce to a relatively low level the risk that
 misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in
the normal course of performing their assigned functions.  However,
we noted no matters involving internal control and its operation,
including controls for safeguarding securities, that we consider to be
material weaknesses as defined above as of December 31, 2001.

This report is intended solely for the information and use of
management and the Board of Trustees and the Securities and
Exchange Commission and is not intended to be and should not
be used by anyone other than these specified parties.
February 20, 2002
??

??



(2)




PricewaterhouseCoopers LLP
One North Wacker Drive
Chicago, IL 60606
(312) 298 2000






</TEXT>
</DOCUMENT>
