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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000908187-03-000003.txt : 20030303
<SEC-HEADER>0000908187-03-000003.hdr.sgml : 20030303
<ACCEPTANCE-DATETIME>20030228194555
ACCESSION NUMBER:		0000908187-03-000003
CONFORMED SUBMISSION TYPE:	NSAR-B
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20021231
FILED AS OF DATE:		20030303
EFFECTIVENESS DATE:		20030303

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PIMCO COMMERCIAL MORTGAGE SECURITIES TRUST INC
		CENTRAL INDEX KEY:			0000908187
		IRS NUMBER:				521834031
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NSAR-B
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07816
		FILM NUMBER:		03587921

	BUSINESS ADDRESS:	
		STREET 1:		840 NEWPORT CENTER DR
		STREET 2:		STE 360
		CITY:			NEWPORT BEACH
		STATE:			CA
		ZIP:			92660
		BUSINESS PHONE:		714-760-48

	MAIL ADDRESS:	
		STREET 1:		840 NEWPORT CENTER DR
		STREET 2:		STE 360
		CITY:			NEWPORT BEACH
		STATE:			CA
		ZIP:			92660
</SEC-HEADER>
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<TEXT>
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SIGNATURE   JOHN P. HARDAWAY
TITLE       TREASURER


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77Q3
<SEQUENCE>2
<FILENAME>r77q3.txt
<TEXT>
			EX-99.77Q3 CERT

		FORM N-SAR CERTIFICATION EXHIBIT

	PIMCO Commercial Mortgage Securities Trust, Inc.

SUB-ITEM 77Q3(a)

(i)	The President and Treasurer have concluded that the PIMCO Commercial
Mortgage Securities Trust disclosre controls and procedures (as defined in
rule 30a-2(c) under the Investment Company Act) provide reasonable
assurances that material information relating to PIMCO Funds: Multi-Manager
Series is made known to them by the appropriate persons, based on their
evaluation of these controls and procedures as of a date within 90 days of
the filing date of this report.

(ii)	There were no significant changes in the PIMCO Commercial Mortgage
Securities Trust' internal controls or in other factors that could
significantly affect these controls subsequent to the date of the
evaluation referenced in (i) above.

(iii)	Certifications:

I, Wesley R. Burns, certify that:
1.	I have reviewed this report on Form N-SAR of the PIMCO Commercial
Mortgage Securities Trust;
2.	Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to
make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by
this report;
3.	Based on my knowledge, the financial information included in this
report, and the financial statements on which the financial information is
based, fairly present in all material respects the financial condition,
results of operations, changes in net assets, and cash flows (if the
financial statements are required to include a statement of cash flows) of
the registrant as of, and for, the periods presented in this report;
4.	The registrant's other certifying officers and I are responsible
for establishing and maintaining disclosure controls and procedures (as
defined in rule 30a-2(c) under the Investment Company Act) for the
registrant and have:
a)	designed such disclosure controls and procedures to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities,
particularly during the period in which this report is being prepared;
b)	evaluated the effectiveness of the registrant's disclosure controls
and procedures as of a date within 90 days prior to the filing date of this
report (the "Evaluation Date"); and
c)	presented in this report our conclusions about the effectiveness of
the disclosure controls and procedures based on our evaluation as of the
Evaluation Date;
5.	The registrant's other certifying officers and I have disclosed,
based on our most recent evaluation, to the registrant's auditors and the
audit committee of the registrant's board of directors (or persons
performing the equivalent functions):
a)	all significant deficiencies in the design or operation of internal
controls which could adversely  affect the registrant's ability to record,
process, summarize, and report financial data and have identified for the
registrant's auditors any material weaknesses in internal controls; and
b)	any fraud, whether or not material, that involves management or
other employees who have a significant role in the registrant's internal
controls; and
6.	The registrant's other certifying officers and I have indicated in
this report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal
controls subsequent to the date of our most recent evaluation, including
any corrective actions with regard to significant deficiencies and material
weaknesses.

Date:  January 28, 2003
/s/ Wesley R. Burns
Wesley R. Burns
President


I, John P. Hardaway, certify that:
1.	I have reviewed this report on Form N-SAR of the PIMCO Commercial
Mortgage Securites Trust;
2.	Based on my knowledge, this report does not contain any untrue
statement of a material fact or omit to state a material fact necessary to
make the statements made, in light of the circumstances under which such
statements were made, not misleading with respect to the period covered by
this report;
3.	Based on my knowledge, the financial information included in this
report, and the financial statements on which the financial information is
based, fairly present in all material respects the financial condition,
results of operations, changes in net assets, and cash flows (if the
financial statements are required to include a statement of cash flows) of
the registrant as of, and for, the periods presented in this report;
4.	The registrant's other certifying officers and I are responsible
for establishing and maintaining disclosure controls and procedures (as
defined in rule 30a-2(c) under the Investment Company Act) for the
registrant and have:
a)	designed such disclosure controls and procedures to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities,
particularly during the period in which this report is being prepared;
b)	evaluated the effectiveness of the registrant's disclosure controls
and procedures as of a date within 90 days prior to the filing date of this
report (the "Evaluation Date"); and
c)	presented in this report our conclusions about the effectiveness of
the disclosure controls and procedures based on our evaluation as of the
Evaluation Date;
5.	The registrant's other certifying officers and I have disclosed,
based on our most recent evaluation, to the registrant's auditors and the
audit committee of the registrant's board of directors (or persons
performing the equivalent functions):
a)	all significant deficiencies in the design or operation of internal
controls which could adversely  affect the registrant's ability to record,
process, summarize, and report financial data and have identified for the
registrant's auditors any material weaknesses in internal controls; and
b)	any fraud, whether or not material, that involves management or
other employees who have a significant role in the registrant's internal
controls; and
6.	The registrant's other certifying officers and I have indicated in
this report whether or not there were significant changes in internal
controls or in other factors that could significantly affect internal
controls subsequent to the date of our most recent evaluation, including
any corrective actions with regard to significant deficiencies and material
weaknesses.

Date:  January 28, 2003
/s/ John P. Hardaway
John P. Hardaway
Treasurer

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77D
<SEQUENCE>3
<FILENAME>r77d.txt
<TEXT>
77D     Policies with respect to security investment

                     Change of Investment Policies

The Fund's Board of Directors approved modifications to the PIMCO Commercial
Mortgage Securities Trust, Inc.'s (the "Fund") investment policies as a
result of a new rule promulgated by the Securities and Exchange Commission
("Commission").  The Commission adopted new Rule 35d-1 under the Investment
Company Act of 1940, as amended (the "Names Rule"), generally requiring a
fund with a name suggesting a focus in a particular type of investment to
invest under normal circumstances, at least 80% of its net assets (plus the
amount of any borrowings for investment purposes), in the type of investment
suggested by its name.  As a result, effective July 31, 2002, the Board of
Directors of the Fund adopted a non-fundamental policy to invest, under
normal circumstances, at least 80% of its net assets, plus the amounts of
any borrowings for investment purposes, in commercial mortgage-backed
securities.  Prior to the change, the Fund was subject to a similar
requirement with regard to 65% of its total assets.  Pacific Investment
Management Company LLC, the Fund's investment adviser, does not believe
that the new policy will result in any changes in the way the Fund is
currently managed.

This investment policy may be changed in the future by the Fund's Board of
Directors without shareholder approval.  The Fund will provide shareholders
with at least 60 days' prior notice of any change to this investment policy.

In addition, the Fund changed its investment policies:  (i) to eliminate
the requirement that liquid assets segregated to meet asset coverage
requirements be "high grade debt obligations rated A or better"; and (ii)
to permit the Fund to invest in futures and related options for other than
bona-fide hedging purposes, provided that, immediately after such an
investment, the aggregate initial margin deposits plus premiums paid for
open futures options positions, less the amount by which any such options
are "in the money," does not exceed 5% of the Fund's net assets.  These
changes were designed to reflect, among other things, changes in regulatory
requirements since the Fund's launch in 1993.

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.77B
<SEQUENCE>4
<FILENAME>r77b.txt
<TEXT>
77B     Accountant's Report on Internal Control


                      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 the
PIMCO Commercial Mortgage Securities Trust, Inc. (the "Trust") for the year
ended December 31, 2002, 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 Trust 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 controls 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 controls may become
inadequate because of changes in conditions or that the effectiveness of
their 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, 2002.

This report is intended solely for the information and use of the Board of
Trustees, management 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, 2003

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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