| DEAL NAME | MSAC 2003-NC9 |
| Closing Date | 9/9/2003 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 337,836,445 |
| |
| Sellers | NC(100.00%) |
| Servicers | HQ(100.00%) |
| |
| Number of Loans | 1795 |
| Avg Loan Balance ($) | 188,209 |
| |
| Fixed/Floating | |
| % FRM | 24.63 |
| % ARM | 75.37 |
| |
| %IO | 3.46 |
| Wtd Avg IO Term (months) | 0 |
| |
| Wtd Avg Current Mortgage Rate (%) | 7.544 |
| Non-Zero Wtd Avg Margin (%) | 5.649 |
| Non-Zero Wtd Avg Initial Cap (%) | 1.567 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.566 |
| |
| Lien Composition | |
| % 1st Lien | 99.29 |
| % 2nd Lien | 0.71 |
| |
| Non-Zero Wtd Avg FICO | 596 |
| % FICO below 600 (inc. N/A) | 56.19 |
| % FICO below 550 (inc. N/A) | 27.43 |
| |
| Wtd Avg Comb Orig LTV | 79.89 |
| % CLTV > 80 | 48.58 |
| % CLTV > 90 | 3.97 |
| % CLTV > 95 | 0.69 |
| |
| % Silent Seconds | 10.86 |
| CLTV incl. all simul. liens (%) | 81.71 |
| |
| Documentation Level | |
| % Full Documentation | 59.16 |
| % Stated Documentation | 35.33 |
| % Limited Documentation | 5.51 |
| |
| % Owner Occupied | 94.90 |
| |
| Loan Purpose | |
| % Cashout Refinance | 62.31 |
| % Purchase | 21.75 |
| % Rate Term Refinance | 15.94 |
| |
| State Concentration (Over 5%) | CA(43.82%),FL(6.27%) |
| |
| % Prepay Penalty | 82.76 |
| |
| Wtd Avg Std Orig Term (months) | 354 |
| Wtd Avg Std Rem Term (months) | 351 |
| Wtd Average Loan Age (months) | 4 |
