| DEAL NAME | MSAC 2003-SD1 |
| Closing Date | 6/30/2003 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 174,417,280 |
| |
| Sellers | CW(34.23%),PB(7.88%),NC(6.93%),WLS(6.67%),LBMC(6.38%) |
| Servicers | CW(46.82%),OFB(34.23%),WLS(18.95%) |
| |
| Number of Loans | 1562 |
| Avg Loan Balance ($) | 111,662 |
| |
| Fixed/Floating | |
| % FRM | 38.48 |
| % ARM | 61.52 |
| |
| %IO | 0.03 |
| Wtd Avg IO Term (months) | 1 |
| |
| Wtd Avg Current Mortgage Rate (%) | 8.882 |
| Non-Zero Wtd Avg Margin (%) | 6.413 |
| Non-Zero Wtd Avg Initial Cap (%) | 1.990 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.237 |
| |
| Lien Composition | |
| % 1st Lien | 98.08 |
| % 2nd Lien | 1.92 |
| |
| Non-Zero Wtd Avg FICO | 603 |
| % FICO below 600 (inc. N/A) | 50.23 |
| % FICO below 550 (inc. N/A) | 24.11 |
| |
| Wtd Avg Comb Orig LTV | 81.58 |
| % CLTV > 80 | 49.74 |
| % CLTV > 90 | 17.74 |
| % CLTV > 95 | 14.34 |
| |
| % Silent Seconds | 1.45 |
| CLTV incl. all simul. liens (%) | 82.34 |
| |
| Documentation Level | |
| % Full Documentation | 59.31 |
| % Stated Documentation | 35.47 |
| % Limited Documentation | 2.70 |
| % Lite Documentation | 2.52 |
| |
| % Owner Occupied | 91.25 |
| |
| Loan Purpose | |
| % Cashout Refinance | 51.75 |
| % Purchase | 36.09 |
| % Rate Term Refinance | 10.55 |
| |
| State Concentration (Over 5%) | CA(30.83%),NY(8.31%),FL(6.33%) |
| |
| % Prepay Penalty | 59.06 |
| |
| Wtd Avg Std Orig Term (months) | 347 |
| Wtd Avg Std Rem Term (months) | 316 |
| Wtd Average Loan Age (months) | 30 |
