| DEAL NAME | MSAC 2004-SD1 |
| Closing Date | 1/30/2004 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 262,931,536 |
| |
| Sellers | SNP(33%),NC(18%),BOA(17%),WAMU(7%),WMC(5%) |
| Servicers | WLS(42.91%),BOA(34.71%),WAMU(22.38%) |
| |
| Number of Loans | 1414 |
| Avg Loan Balance ($) | 185,948 |
| |
| Fixed/Floating | |
| % FRM | 44.18 |
| % ARM | 55.82 |
| |
| %IO | 10.33 |
| Wtd Avg IO Term (months) | 59 |
| |
| Wtd Avg Current Mortgage Rate (%) | 6.639 |
| Non-Zero Wtd Avg Margin (%) | 4.298 |
| Non-Zero Wtd Avg Initial Cap (%) | 3.115 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.711 |
| |
| Lien Composition | |
| % 1st Lien | 98.05 |
| % 2nd Lien | 1.95 |
| |
| Non-Zero Wtd Avg FICO | 652 |
| % FICO below 600 (inc. N/A) | 30.18 |
| % FICO below 550 (inc. N/A) | 16.57 |
| |
| Wtd Avg Comb Orig LTV | 73.40 |
| % CLTV > 80 | 26.04 |
| % CLTV > 90 | 8.02 |
| % CLTV > 95 | 3.94 |
| |
| % Silent Seconds | 4.35 |
| CLTV incl. all simul. liens (%) | 74.36 |
| |
| Documentation Level | |
| % Full Documentation | 58.17 |
| % Stated Documentation | 23.68 |
| % Limited Documentation | 10.48 |
| % Lite Documentation | 7.67 |
| |
| % Owner Occupied | 90.00 |
| |
| Loan Purpose | |
| % Cashout Refinance | 39.59 |
| % Purchase | 29.65 |
| % Rate Term Refinance | 29.52 |
| |
| State Concentration (Over 5%) | CA(36.00%),NY(8.04%),FL(6.28%) |
| |
| % Prepay Penalty | 26.19 |
| |
| Wtd Avg Std Orig Term (months) | 336 |
| Wtd Avg Std Rem Term (months) | 319 |
| Wtd Average Loan Age (months) | 17 |
