| DEAL NAME | MSAC 2003-NC7 |
| Closing Date | 7/30/2003 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 580,901,026 |
| |
| Sellers | NC(100.00%) |
| Servicers | HQ(100.00%) |
| |
| Number of Loans | 3803 |
| Avg Loan Balance ($) | 152,748 |
| |
| Fixed/Floating | |
| % FRM | 25.86 |
| % ARM | 74.14 |
| |
| %IO | 4.78 |
| Wtd Avg IO Term (months) | 120 |
| |
| Wtd Avg Current Mortgage Rate (%) | 7.612 |
| Non-Zero Wtd Avg Margin (%) | 5.593 |
| Non-Zero Wtd Avg Initial Cap (%) | 1.595 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.595 |
| |
| Lien Composition | |
| % 1st Lien | 97.79 |
| % 2nd Lien | 2.21 |
| |
| Non-Zero Wtd Avg FICO | 596 |
| % FICO below 600 (inc. N/A) | 57.11 |
| % FICO below 550 (inc. N/A) | 27.37 |
| |
| Wtd Avg Comb Orig LTV | 79.22 |
| % CLTV > 80 | 43.71 |
| % CLTV > 90 | 4.96 |
| % CLTV > 95 | 2.12 |
| |
| % Silent Seconds | 10.62 |
| CLTV incl. all simul. liens (%) | 80.92 |
| |
| Documentation Level | |
| % Full Documentation | 61.45 |
| % Stated Documentation | 33.62 |
| % Limited Documentation | 4.93 |
| |
| % Owner Occupied | 94.56 |
| |
| Loan Purpose | |
| % Cashout Refinance | 62.01 |
| % Purchase | 20.72 |
| % Rate Term Refinance | 17.27 |
| |
| State Concentration (Over 5%) | CA(41.28%),FL(6.36%) |
| |
| % Prepay Penalty | 80.44 |
| |
| Wtd Avg Std Orig Term (months) | 351 |
| Wtd Avg Std Rem Term (months) | 348 |
| Wtd Average Loan Age (months) | 2 |
