| DEAL NAME | MSAC 2003-HE1 |
| Closing Date | 6/27/2003 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 898,273,454 |
| |
| Sellers | AA(54%),ACC(30%),PR(16%) |
| Servicers | PB(69.71%),CH(30.29%) |
| |
| Number of Loans | 5925 |
| Avg Loan Balance ($) | 151,607 |
| |
| Fixed/Floating | |
| % FRM | 33.71 |
| % ARM | 66.29 |
| |
| %IO | 0.00 |
| Wtd Avg IO Term (months) | 0 |
| |
| Wtd Avg Current Mortgage Rate (%) | 7.878 |
| Non-Zero Wtd Avg Margin (%) | 6.218 |
| Non-Zero Wtd Avg Initial Cap (%) | 2.515 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.161 |
| |
| Lien Composition | |
| % 1st Lien | 100.00 |
| % 2nd Lien | 0.00 |
| |
| Non-Zero Wtd Avg FICO | 613 |
| % FICO below 600 (inc. N/A) | 41.50 |
| % FICO below 550 (inc. N/A) | 16.33 |
| |
| Wtd Avg Comb Orig LTV | 79.89 |
| % CLTV > 80 | 39.06 |
| % CLTV > 90 | 9.12 |
| % CLTV > 95 | 2.48 |
| |
| % Silent Seconds | 9.10 |
| CLTV incl. all simul. liens (%) | 81.51 |
| |
| Documentation Level | |
| % Full Documentation | 68.45 |
| % Stated Documentation | 29.02 |
| % Lite Documentation | 2.53 |
| |
| % Owner Occupied | 94.60 |
| |
| Loan Purpose | |
| % Cashout Refinance | 61.62 |
| % Purchase | 23.57 |
| % Rate Term Refinance | 14.81 |
| |
| State Concentration (Over 5%) | CA(32.73%),FL(10.03%),NY(6.34%) |
| |
| % Prepay Penalty | 87.06 |
| |
| Wtd Avg Std Orig Term (months) | 348 |
| Wtd Avg Std Rem Term (months) | 345 |
| Wtd Average Loan Age (months) | 4 |
