| DEAL NAME | MSAC 2003-NC5 |
| Closing Date | 5/29/2003 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 1,005,008,872 |
| |
| Sellers | NC(100.00%) |
| Servicers | HQ(100.00%) |
| |
| Number of Loans | 6177 |
| Avg Loan Balance ($) | 162,701 |
| |
| Fixed/Floating | |
| % FRM | 26.49 |
| % ARM | 73.51 |
| |
| %IO | 1.23 |
| Wtd Avg IO Term (months) | 120 |
| |
| Wtd Avg Current Mortgage Rate (%) | 7.615 |
| Non-Zero Wtd Avg Margin (%) | 6.257 |
| Non-Zero Wtd Avg Initial Cap (%) | 1.524 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.523 |
| |
| Lien Composition | |
| % 1st Lien | 98.98 |
| % 2nd Lien | 1.02 |
| |
| Non-Zero Wtd Avg FICO | 603 |
| % FICO below 600 (inc. N/A) | 49.51 |
| % FICO below 550 (inc. N/A) | 21.84 |
| |
| Wtd Avg Comb Orig LTV | 79.40 |
| % CLTV > 80 | 46.02 |
| % CLTV > 90 | 5.16 |
| % CLTV > 95 | 0.96 |
| |
| % Silent Seconds | 0.00 |
| CLTV incl. all simul. liens (%) | 80.88 |
| |
| Documentation Level | |
| % Full Documentation | 57.43 |
| % Stated Documentation | 36.03 |
| % Limited Documentation | 6.54 |
| |
| % Owner Occupied | 94.21 |
| |
| Loan Purpose | |
| % Cashout Refinance | 64.32 |
| % Purchase | 18.31 |
| % Rate Term Refinance | 17.37 |
| |
| State Concentration (Over 5%) | CA(39.05%),FL(6.36%),NY(5.71%),IL(5.28%) |
| |
| % Prepay Penalty | 82.46 |
| |
| Wtd Avg Std Orig Term (months) | 355 |
| Wtd Avg Std Rem Term (months) | 352 |
| Wtd Average Loan Age (months) | 2 |
