| DEAL NAME | MSAC 2006-HE2 |
| Closing Date | 4/28/2006 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 2,266,849,639 |
| |
| Sellers | WMC(72.84%),DO(27.16%) |
| Servicers | WF(69.49%),CH(17.25%),HE(13.26%) |
| |
| Number of Loans | 12,310 |
| Avg Loan Balance ($) | 184,147 |
| |
| Fixed/Floating | |
| % FRM | 14.10 |
| % ARM | 85.90 |
| |
| %IO | 10.21 |
| Wtd Avg IO Term (months) | 72 |
| |
| Wtd Avg Current Mortgage Rate (%) | 7.753 |
| Non-Zero Wtd Avg Margin (%) | 6.512 |
| Non-Zero Wtd Avg Initial Cap (%) | 3.055 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.002 |
| |
| Lien Composition | |
| % 1st Lien | 92.72 |
| % 2nd Lien | 7.28 |
| |
| Non-Zero Wtd Avg FICO | 630 |
| % FICO below 600 (inc. N/A) | 27.24 |
| % FICO below 550 (inc. N/A) | 6.97 |
| |
| Wtd Avg Comb Orig LTV | 81.63 |
| % CLTV > 80 | 32.29 |
| % CLTV > 90 | 11.62 |
| % CLTV > 95 | 6.89 |
| |
| % Silent Seconds | 17.42 |
| CLTV incl. all simul. liens (%) | 90.57 |
| |
| Documentation Level | |
| % Full Documentation | 51.09 |
| % Stated Documentation | 45.29 |
| % Limited Documentation | 3.63 |
| |
| % Owner Occupied | 96.60 |
| |
| Loan Purpose | |
| % Cashout Refinance | 45.74 |
| % Purchase | 48.73 |
| % Rate Term Refinance | 5.53 |
| |
| State Concentration (Over 5%) | CA(32.63%),FL(7.51%),NY(5.92%),MD(5.41%) |
| |
| % Prepay Penalty | 68.83 |
| |
| Wtd Avg Std Orig Term (months) | 345 |
| Wtd Avg Std Rem Term (months) | 341 |
| Wtd Average Loan Age (months) | 4 |
