| DEAL NAME | MSAC 2005-WMC2 |
| Closing Date | 3/30/2005 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 1,284,180,092 |
| |
| Sellers | WMC(100.00%) |
| Servicers | CW(100.00%) |
| |
| Number of Loans | 6547 |
| Avg Loan Balance ($) | 196,147 |
| |
| Fixed/Floating | |
| % FRM | 19.10 |
| % ARM | 80.90 |
| |
| %IO | 24.50 |
| Wtd Avg IO Term (months) | 60 |
| |
| Wtd Avg Current Mortgage Rate (%) | 6.942 |
| Non-Zero Wtd Avg Margin (%) | 6.067 |
| Non-Zero Wtd Avg Initial Cap (%) | 2.126 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.010 |
| |
| Lien Composition | |
| % 1st Lien | 91.19 |
| % 2nd Lien | 8.81 |
| |
| Non-Zero Wtd Avg FICO | 640 |
| % FICO below 600 (inc. N/A) | 23.48 |
| % FICO below 550 (inc. N/A) | 7.26 |
| |
| Wtd Avg Comb Orig LTV | 82.61 |
| % CLTV > 80 | 40.62 |
| % CLTV > 90 | 17.34 |
| % CLTV > 95 | 9.25 |
| |
| % Silent Seconds | 34.60 |
| CLTV incl. all simul. liens (%) | 89.33 |
| |
| Documentation Level | |
| % Full Documentation | 46.88 |
| % Stated Documentation | 41.75 |
| % Limited Documentation | 8.40 |
| % Lite Documentation | 2.97 |
| |
| % Owner Occupied | 95.32 |
| |
| Loan Purpose | |
| % Cashout Refinance | 40.01 |
| % Purchase | 46.08 |
| % Rate Term Refinance | 13.91 |
| |
| State Concentration (Over 5%) | CA(59.31%) |
| |
| % Prepay Penalty | 75.92 |
| |
| Wtd Avg Std Orig Term (months) | 343 |
| Wtd Avg Std Rem Term (months) | 340 |
| Wtd Average Loan Age (months) | 3 |
