| DEAL NAME | Morgan Stanley ABS Capital I Inc. Trust 2004-NC1 |
| Closing Date | 1/29/2004 |
| Collateral Factor Date | 4/1/2005 |
| |
| Performance Summary | |
| Current Pool Factor | 52.23% |
| |
| Delinquency Status (*) | |
| 30+ Days | 0.83% |
| 60+ Days | 0.34% |
| 90+ Days | 0.14% |
| 120+ Days | 0.00% |
| |
| Bankruptcy | 1.78% |
| Foreclosure | 2.51% |
| REO | 0.85% |
| |
| Cumulative Net Loss | 0.05% |
| Loss Severity | 75.40% |
| |
| Prepayment Experience | |
| 1mo CPR | 43.75% |
| 3mo CPR | 41.78% |
| 6mo CPR | 46.73% |
| 9mo CPR | 46.71% |
| 12mo CPR | 43.97% |
| Life CPR | 39.85% |
|