| DEAL NAME | MSAC 2003-HE2 |
| Closing Date | 8/26/2003 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 624,127,306 |
| |
| Sellers | WF(45%),AA(41%),ACC(14%) |
| Servicers | CH(55.37%),WF(44.63%) |
| |
| Number of Loans | 4550 |
| Avg Loan Balance ($) | 137,170 |
| |
| Fixed/Floating | |
| % FRM | 27.08 |
| % ARM | 72.92 |
| |
| %IO | 0.00 |
| Wtd Avg IO Term (months) | 0 |
| |
| Wtd Avg Current Mortgage Rate (%) | 7.991 |
| Non-Zero Wtd Avg Margin (%) | 6.353 |
| Non-Zero Wtd Avg Initial Cap (%) | 2.785 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.072 |
| |
| Lien Composition | |
| % 1st Lien | 100.00 |
| % 2nd Lien | 0.00 |
| |
| Non-Zero Wtd Avg FICO | 606 |
| % FICO below 600 (inc. N/A) | 48.86 |
| % FICO below 550 (inc. N/A) | 21.61 |
| |
| Wtd Avg Comb Orig LTV | 77.95 |
| % CLTV > 80 | 32.78 |
| % CLTV > 90 | 6.53 |
| % CLTV > 95 | 1.08 |
| |
| % Silent Seconds | 17.89 |
| CLTV incl. all simul. liens (%) | 79.96 |
| |
| Documentation Level | |
| % Full Documentation | 80.63 |
| % Stated Documentation | 17.56 |
| % Limited Documentation | 0.02 |
| % Lite Documentation | 1.79 |
| |
| % Owner Occupied | 95.82 |
| |
| Loan Purpose | |
| % Cashout Refinance | 59.11 |
| % Purchase | 28.54 |
| % Rate Term Refinance | 12.34 |
| |
| State Concentration (Over 5%) | CA(25.43%),FL(10.33%),TX(5.97%) |
| |
| % Prepay Penalty | 86.65 |
| |
| Wtd Avg Std Orig Term (months) | 347 |
| Wtd Avg Std Rem Term (months) | 344 |
| Wtd Average Loan Age (months) | 3 |
