| DEAL NAME | MSAC 2003-HE3 |
| Closing Date | 10/30/2003 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 575,424,949 |
| |
| Sellers | AA(64%),ACC(36%) |
| Servicers | CH(100.00%) |
| |
| Number of Loans | 3719 |
| Avg Loan Balance ($) | 154,725 |
| |
| Fixed/Floating | |
| % FRM | 34.06 |
| % ARM | 65.94 |
| |
| %IO | 0.00 |
| Wtd Avg IO Term (months) | 0 |
| |
| Wtd Avg Current Mortgage Rate (%) | 7.357 |
| Non-Zero Wtd Avg Margin (%) | 6.154 |
| Non-Zero Wtd Avg Initial Cap (%) | 2.423 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.190 |
| |
| Lien Composition | |
| % 1st Lien | 100.00 |
| % 2nd Lien | 0.00 |
| |
| Non-Zero Wtd Avg FICO | 615 |
| % FICO below 600 (inc. N/A) | 40.61 |
| % FICO below 550 (inc. N/A) | 15.42 |
| |
| Wtd Avg Comb Orig LTV | 79.84 |
| % CLTV > 80 | 35.88 |
| % CLTV > 90 | 8.30 |
| % CLTV > 95 | 0.40 |
| |
| % Silent Seconds | 11.04 |
| CLTV incl. all simul. liens (%) | 81.75 |
| |
| Documentation Level | |
| % Full Documentation | 63.18 |
| % Stated Documentation | 32.96 |
| % Limited Documentation | 1.28 |
| % Lite Documentation | 2.59 |
| |
| % Owner Occupied | 95.06 |
| |
| Loan Purpose | |
| % Cashout Refinance | 54.73 |
| % Purchase | 32.67 |
| % Rate Term Refinance | 12.60 |
| |
| State Concentration (Over 5%) | CA(37.15%),FL(12.66%),TX(5.48%) |
| |
| % Prepay Penalty | 86.15 |
| |
| Wtd Avg Std Orig Term (months) | 352 |
| Wtd Avg Std Rem Term (months) | 350 |
| Wtd Average Loan Age (months) | 2 |
