| DEAL NAME | Morgan Stanley ABS Capital I Inc. Trust 2004-NC1 |
| Closing Date | 1/29/2004 |
| Collateral Factor Date | 3/1/2006 |
| |
| Performance Summary | |
| Current Pool Factor | 26.28% |
| |
| Delinquency Status (*) | |
| 30+ Days | 3.91% |
| 60+ Days | 1.64% |
| 90+ Days | 0.75% |
| 120+ Days | 0.00% |
| |
| Bankruptcy | 3.75% |
| Foreclosure | 2.95% |
| REO | 2.10% |
| |
| Cumulative Net Loss | 0.33% |
| Loss Severity | 21.16% |
| |
| Prepayment Experience | |
| 1mo CPR | 43.47% |
| 3mo CPR | 46.75% |
| 6mo CPR | 59.67% |
| 9mo CPR | 54.32% |
| 12mo CPR | 51.51% |
| Life CPR | 45.41% |
|