| DEAL NAME | MSAC 2006-HE3 |
| Closing Date | 5/25/2006 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 2,088,934,943 |
| |
| Sellers | NC(41.00%),WMC(40.01%),DO(18.99%) |
| Servicers | WF(98.69%) |
| |
| Number of Loans | 11,187 |
| Avg Loan Balance ($) | 186,728 |
| |
| Fixed/Floating | |
| % FRM | 17.26 |
| % ARM | 82.74 |
| |
| %IO | 5.68 |
| Wtd Avg IO Term (months) | 69 |
| |
| Wtd Avg Current Mortgage Rate (%) | 8.128 |
| Non-Zero Wtd Avg Margin (%) | 6.493 |
| Non-Zero Wtd Avg Initial Cap (%) | 2.460 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.189 |
| |
| Lien Composition | |
| % 1st Lien | 94.90 |
| % 2nd Lien | 5.10 |
| |
| Non-Zero Wtd Avg FICO | 627 |
| % FICO below 600 (inc. N/A) | 29.92 |
| % FICO below 550 (inc. N/A) | 8.10 |
| |
| Wtd Avg Comb Orig LTV | 81.02 |
| % CLTV > 80 | 36.56 |
| % CLTV > 90 | 10.18 |
| % CLTV > 95 | 5.04 |
| |
| % Silent Seconds | 19.45 |
| CLTV incl. all simul. liens (%) | 88.04 |
| |
| Documentation Level | |
| % Full Documentation | 53.91 |
| % Stated Documentation | 43.51 |
| % Limited Documentation | 2.58 |
| |
| % Owner Occupied | 93.86 |
| |
| Loan Purpose | |
| % Cashout Refinance | 50.33 |
| % Purchase | 43.26 |
| % Rate Term Refinance | 6.41 |
| |
| State Concentration (Over 5%) | CA(32.86%),FL(9.36%),NY(6.14%) |
| |
| % Prepay Penalty | 74.88 |
| |
| Wtd Avg Std Orig Term (months) | 351 |
| Wtd Avg Std Rem Term (months) | 348 |
| Wtd Average Loan Age (months) | 3 |
