| DEAL NAME | MSAC 2005-HE3 |
| Closing Date | 7/21/2005 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 1,026,372,175 |
| |
| Sellers | WMC(33.33%),DO(32.51%),FRE(18.73%),ACC(14.20%) |
| Servicers | CW(49.30%),HQ(50.70%) |
| |
| Number of Loans | 6163 |
| Avg Loan Balance ($) | 166,537 |
| |
| Fixed/Floating | |
| % FRM | 15.30 |
| % ARM | 84.70 |
| |
| %IO | 25.62 |
| Wtd Avg IO Term (months) | 53 |
| |
| Wtd Avg Current Mortgage Rate (%) | 7.224 |
| Non-Zero Wtd Avg Margin (%) | 6.383 |
| Non-Zero Wtd Avg Initial Cap (%) | 2.715 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.173 |
| |
| Lien Composition | |
| % 1st Lien | 94.23 |
| % 2nd Lien | 5.77 |
| |
| Non-Zero Wtd Avg FICO | 632 |
| % FICO below 600 (inc. N/A) | 22.99 |
| % FICO below 550 (inc. N/A) | 4.99 |
| |
| Wtd Avg Comb Orig LTV | 82.64 |
| % CLTV > 80 | 37.29 |
| % CLTV > 90 | 13.33 |
| % CLTV > 95 | 8.14 |
| |
| % Silent Seconds | 29.78 |
| CLTV incl. all simul. liens (%) | 90.70 |
| |
| Documentation Level | |
| % Full Documentation | 53.74 |
| % Stated Documentation | 39.54 |
| % Limited Documentation | 6.71 |
| |
| % Owner Occupied | 95.77 |
| |
| Loan Purpose | |
| % Cashout Refinance | 46.47 |
| % Purchase | 46.90 |
| % Rate Term Refinance | 6.62 |
| |
| State Concentration (Over 5%) | CA(33.03%),FL(8.06%),NY(5.98%) |
| |
| % Prepay Penalty | 77.08 |
| |
| Wtd Avg Std Orig Term (months) | 351 |
| Wtd Avg Std Rem Term (months) | 348 |
| Wtd Average Loan Age (months) | 3 |
