| DEAL NAME | MSAC 2003-NC10 |
| Closing Date | 10/28/2003 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 1,442,532,260 |
| |
| Sellers | NC(100.00%) |
| Servicers | CW(100.00%) |
| |
| Number of Loans | 8773 |
| Avg Loan Balance ($) | 164,428 |
| |
| Fixed/Floating | |
| % FRM | 28.11 |
| % ARM | 71.89 |
| |
| %IO | 1.65 |
| Wtd Avg IO Term (months) | 120 |
| |
| Wtd Avg Current Mortgage Rate (%) | 7.337 |
| Non-Zero Wtd Avg Margin (%) | 5.675 |
| Non-Zero Wtd Avg Initial Cap (%) | 1.533 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.533 |
| |
| Lien Composition | |
| % 1st Lien | 98.36 |
| % 2nd Lien | 1.64 |
| |
| Non-Zero Wtd Avg FICO | 602 |
| % FICO below 600 (inc. N/A) | 49.03 |
| % FICO below 550 (inc. N/A) | 20.19 |
| |
| Wtd Avg Comb Orig LTV | 80.15 |
| % CLTV > 80 | 46.89 |
| % CLTV > 90 | 6.14 |
| % CLTV > 95 | 1.89 |
| |
| % Silent Seconds | 11.33 |
| CLTV incl. all simul. liens (%) | 82.09 |
| |
| Documentation Level | |
| % Full Documentation | 57.61 |
| % Stated Documentation | 37.91 |
| % Limited Documentation | 4.48 |
| |
| % Owner Occupied | 94.98 |
| |
| Loan Purpose | |
| % Cashout Refinance | 63.40 |
| % Purchase | 25.86 |
| % Rate Term Refinance | 10.74 |
| |
| State Concentration (Over 5%) | CA(41.17%),FL(6.67%),NY(5.70%) |
| |
| % Prepay Penalty | 78.23 |
| |
| Wtd Avg Std Orig Term (months) | 352 |
| Wtd Avg Std Rem Term (months) | 350 |
| Wtd Average Loan Age (months) | 2 |
