UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) August 31, 2007

CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP. (as company under a Series Supplement to the Standard Terms of Pooling and Servicing Agreement, dated as of August 1, 2007, providing for, inter alia, the issuance of CSMC Asset-Backed Trust 2007-NC1 OSI, CSMC Asset-Backed Pass-Through Certificates, Series 2007-NC1 OSI)

CSMC Asset-Backed Trust 2007-NC1 OSI
(Exact name of issuing entity as specified in its charter)
Credit Suisse First Boston Mortgage Securities Corp.
(Exact name of depositor as specified in its charter)
DLJ Mortgage Capital, Inc.
(Exact name of sponsor as specified in its charter)
Delaware	333-140945-06	13-3320910
(State or Other Jurisdication of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

11 Madison Avenue, New York, New York (Address of Principal Executive Offices)		10010 (Zip Code)

Registrant’s telephone number, including area code, is: (212) 538-3000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12(b))

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 6.02. Change of Servicer or Trustee.

As described in the depositor’s Prospectus Supplement, dated August 31, 2007, relating to CSMC Asset-Backed Trust 2007-NC1 OSI, CSMC Asset-Backed Pass-Through Certificates, Series 2007-NC1 OSI, on October 1, 2007, the servicing of the Mortgage Loans transferred to Ocwen Loan Servicing, LLC.

Pursuant to the requirements of 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.

	CREDIT SUISSE FIRST BOSTON MORTGAGE SECURITIES CORP.

	By:	/s/ Kevin Steele
	Name:	Kevin Steele
	Title:	Vice President

Dated: October 1, 2007

CSMC Asset-Backed Trust 2007-NC1 8-K