| DEAL NAME | MSAC 2005-WMC3 |
| Closing Date | 5/6/2005 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 986,656,898 |
| |
| Sellers | WMC(100.00%) |
| Servicers | CW(100.00%) |
| |
| Number of Loans | 5128 |
| Avg Loan Balance ($) | 192,405 |
| |
| Fixed/Floating | |
| % FRM | 19.35 |
| % ARM | 80.65 |
| |
| %IO | 25.74 |
| Wtd Avg IO Term (months) | 60 |
| |
| Wtd Avg Current Mortgage Rate (%) | 6.897 |
| Non-Zero Wtd Avg Margin (%) | 6.048 |
| Non-Zero Wtd Avg Initial Cap (%) | 2.155 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.002 |
| |
| Lien Composition | |
| % 1st Lien | 91.07 |
| % 2nd Lien | 8.93 |
| |
| Non-Zero Wtd Avg FICO | 642 |
| % FICO below 600 (inc. N/A) | 22.49 |
| % FICO below 550 (inc. N/A) | 5.28 |
| |
| Wtd Avg Comb Orig LTV | 82.27 |
| % CLTV > 80 | 37.54 |
| % CLTV > 90 | 15.69 |
| % CLTV > 95 | 8.44 |
| |
| % Silent Seconds | 38.23 |
| CLTV incl. all simul. liens (%) | 89.62 |
| |
| Documentation Level | |
| % Full Documentation | 44.38 |
| % Stated Documentation | 42.55 |
| % Limited Documentation | 9.87 |
| % Lite Documentation | 3.20 |
| |
| % Owner Occupied | 94.75 |
| |
| Loan Purpose | |
| % Cashout Refinance | 38.26 |
| % Purchase | 47.08 |
| % Rate Term Refinance | 14.65 |
| |
| State Concentration (Over 5%) | CA(57.28%) |
| |
| % Prepay Penalty | 75.94 |
| |
| Wtd Avg Std Orig Term (months) | 343 |
| Wtd Avg Std Rem Term (months) | 339 |
| Wtd Average Loan Age (months) | 3 |
