(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;