| DEAL NAME | MSAC 2006-NC5 |
| Closing Date | 11/28/2006 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 1,392,187,337 |
| |
| Sellers | NC(100.00%) |
| Servicers | CW(100.00%) |
| |
| Number of Loans | 6,923 |
| Avg Loan Balance ($) | 201,095 |
| |
| Fixed/Floating | |
| % FRM | 22.23 |
| % ARM | 77.77 |
| |
| %IO | 20.63 |
| Wtd Avg IO Term (months) | 60 |
| |
| Wtd Avg Current Mortgage Rate (%) | 8.374 |
| Non-Zero Wtd Avg Margin (%) | 6.187 |
| Non-Zero Wtd Avg Initial Cap (%) | 1.956 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.498 |
| |
| Lien Composition | |
| % 1st Lien | 94.50 |
| % 2nd Lien | 5.50 |
| |
| Non-Zero Wtd Avg FICO | 626 |
| % FICO below 600 (inc. N/A) | 31.62 |
| % FICO below 550 (inc. N/A) | 10.45 |
| |
| Wtd Avg Comb Orig LTV | 81.43 |
| % CLTV > 80 | 41.94 |
| % CLTV > 90 | 12.77 |
| % CLTV > 95 | 5.40 |
| |
| % Silent Seconds | 22.07 |
| CLTV incl. all simul. liens (%) | 87.26 |
| |
| Documentation Level | |
| % Full Documentation | 55.36 |
| % Stated Documentation | 43.45 |
| % Limited Documentation | 1.19 |
| |
| % Owner Occupied | 91.33 |
| |
| Loan Purpose | |
| % Cashout Refinance | 49.40 |
| % Purchase | 42.38 |
| % Rate Term Refinance | 8.23 |
| |
| State Concentration (Over 5%) | CA(36.68%),FL(9.95%),NY(6.49%) |
| |
| % Prepay Penalty | 76.32 |
| |
| Wtd Avg Std Orig Term (months) | 359 |
| Wtd Avg Std Rem Term (months) | 356 |
| Wtd Average Loan Age (months) | 3 |
