| DEAL NAME | MSAC 2005-HE1 |
| Closing Date | 1/26/2005 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 1,713,448,448 |
| |
| Sellers | NC(40.38%),OO(36.27%),DO(17.74%),ACC(5.62%) |
| Servicers | CW(23.64%),HQ(40.09%),OO(36.27%) |
| |
| Number of Loans | 10339 |
| Avg Loan Balance ($) | 165,726 |
| |
| Fixed/Floating | |
| % FRM | 22.38 |
| % ARM | 77.62 |
| |
| %IO | 10.46 |
| Wtd Avg IO Term (months) | 38 |
| |
| Wtd Avg Current Mortgage Rate (%) | 7.260 |
| Non-Zero Wtd Avg Margin (%) | 5.857 |
| Non-Zero Wtd Avg Initial Cap (%) | 2.362 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.244 |
| |
| Lien Composition | |
| % 1st Lien | 99.32 |
| % 2nd Lien | 0.68 |
| |
| Non-Zero Wtd Avg FICO | 615 |
| % FICO below 600 (inc. N/A) | 39.37 |
| % FICO below 550 (inc. N/A) | 14.30 |
| |
| Wtd Avg Comb Orig LTV | 78.99 |
| % CLTV > 80 | 37.82 |
| % CLTV > 90 | 6.94 |
| % CLTV > 95 | 1.52 |
| |
| % Silent Seconds | 16.34 |
| CLTV incl. all simul. liens (%) | 82.07 |
| |
| Documentation Level | |
| % Full Documentation | 57.76 |
| % Stated Documentation | 39.11 |
| % Limited Documentation | 2.59 |
| % Lite Documentation | 0.54 |
| |
| % Owner Occupied | 95.06 |
| |
| Loan Purpose | |
| % Cashout Refinance | 62.46 |
| % Purchase | 30.79 |
| % Rate Term Refinance | 6.74 |
| |
| State Concentration (Over 5%) | CA(24.69%),NY(8.11%),FL(6.93%),MA(5.54%) |
| |
| % Prepay Penalty | 77.75 |
| |
| Wtd Avg Std Orig Term (months) | 356 |
| Wtd Avg Std Rem Term (months) | 353 |
| Wtd Average Loan Age (months) | 4 |
