| DEAL NAME | MSAC 2006-HE4 |
| Closing Date | 6/23/2006 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 2,160,092,243 |
| |
| Sellers | WMC(44.83%),DO(36.53%),NC(18.52%) |
| Servicers | WF(99.80%) |
| |
| Number of Loans | 12,010 |
| Avg Loan Balance ($) | 179,857 |
| |
| Fixed/Floating | |
| % FRM | 14.53 |
| % ARM | 85.47 |
| |
| %IO | 8.81 |
| Wtd Avg IO Term (months) | 66 |
| |
| Wtd Avg Current Mortgage Rate (%) | 8.304 |
| Non-Zero Wtd Avg Margin (%) | 6.690 |
| Non-Zero Wtd Avg Initial Cap (%) | 2.758 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.088 |
| |
| Lien Composition | |
| % 1st Lien | 94.99 |
| % 2nd Lien | 5.01 |
| |
| Non-Zero Wtd Avg FICO | 625 |
| % FICO below 600 (inc. N/A) | 30.12 |
| % FICO below 550 (inc. N/A) | 7.08 |
| |
| Wtd Avg Comb Orig LTV | 81.46 |
| % CLTV > 80 | 34.75 |
| % CLTV > 90 | 8.85 |
| % CLTV > 95 | 4.83 |
| |
| % Silent Seconds | 22.99 |
| CLTV incl. all simul. liens (%) | 89.71 |
| |
| Documentation Level | |
| % Full Documentation | 52.82 |
| % Stated Documentation | 44.13 |
| % Limited Documentation | 3.05 |
| |
| % Owner Occupied | 95.13 |
| |
| Loan Purpose | |
| % Cashout Refinance | 46.37 |
| % Purchase | 47.19 |
| % Rate Term Refinance | 6.44 |
| |
| State Concentration (Over 5%) | CA(27.86%),FL(9.64%),NY(5.17%) |
| |
| % Prepay Penalty | 70.06 |
| |
| Wtd Avg Std Orig Term (months) | 350 |
| Wtd Avg Std Rem Term (months) | 347 |
| Wtd Average Loan Age (months) | 3 |
