(1) The provisions of Chapter 1 and of sections 4(2) to (5), 58, 61, 71 and 91 shall apply to designated commercial mortgage credit institutions with the following modifications:
(a) references therein to 'asset covered securities' or 'mortgage covered securities' shall mean commercial mortgage covered securities;
(b) references therein to 'designated mortgage credit institutions' or, except in sections 28 and 38(7), to 'designated credit institutions' shall mean designated commercial mortgage credit institutions;
(c) references therein to 'mortgage credit assets' shall mean commercial mortgage credit assets;
(d) references therein to 'property assets' shall mean commercial property;
(e) except in section 38(7), references therein to a 'register of mortgage covered securities business' shall mean the register of commercial mortgage covered securities business;
(f) except in sections 32(13) (a) and 41A(6) (a), references therein to 'residential property' shall mean commercial property;
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