| DEAL NAME | MSAC 2005-HE4 |
| Closing Date | 8/26/2005 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 910,827,501 |
| |
| Sellers | WMC(46.78%),DO(45.94%),ACC(7.28%) |
| Servicers | CW(54.06%),HQ(45.94%) |
| |
| Number of Loans | 5545 |
| Avg Loan Balance ($) | 164,261 |
| |
| Fixed/Floating | |
| % FRM | 17.41 |
| % ARM | 82.59 |
| |
| %IO | 15.29 |
| Wtd Avg IO Term (months) | 62 |
| |
| Wtd Avg Current Mortgage Rate (%) | 7.122 |
| Non-Zero Wtd Avg Margin (%) | 6.195 |
| Non-Zero Wtd Avg Initial Cap (%) | 2.875 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.039 |
| |
| Lien Composition | |
| % 1st Lien | 94.42 |
| % 2nd Lien | 5.58 |
| |
| Non-Zero Wtd Avg FICO | 640 |
| % FICO below 600 (inc. N/A) | 20.09 |
| % FICO below 550 (inc. N/A) | 4.14 |
| |
| Wtd Avg Comb Orig LTV | 82.58 |
| % CLTV > 80 | 32.44 |
| % CLTV > 90 | 12.90 |
| % CLTV > 95 | 9.79 |
| |
| % Silent Seconds | 31.42 |
| CLTV incl. all simul. liens (%) | 92.84 |
| |
| Documentation Level | |
| % Full Documentation | 51.44 |
| % Stated Documentation | 39.31 |
| % Limited Documentation | 9.25 |
| |
| % Owner Occupied | 95.93 |
| |
| Loan Purpose | |
| % Cashout Refinance | 36.63 |
| % Purchase | 58.14 |
| % Rate Term Refinance | 5.23 |
| |
| State Concentration (Over 5%) | CA(30.11%),FL(7.10%),VA(5.45%) |
| |
| % Prepay Penalty | 78.10 |
| |
| Wtd Avg Std Orig Term (months) | 349 |
| Wtd Avg Std Rem Term (months) | 346 |
| Wtd Average Loan Age (months) | 3 |
