| DEAL NAME | MSAC 2007-NC1 |
| Closing Date | 1/26/2007 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 1,250,007,962 |
| |
| Sellers | NC(100.00%) |
| Servicers | SX(60.98%),CW(39.02%) |
| |
| Number of Loans | 6,514 |
| Avg Loan Balance ($) | 191,895 |
| |
| Fixed/Floating | |
| % FRM | 22.36 |
| % ARM | 77.64 |
| |
| %IO | 19.17 |
| Wtd Avg IO Term (months) | 61 |
| |
| Wtd Avg Current Mortgage Rate (%) | 8.366 |
| Non-Zero Wtd Avg Margin (%) | 6.203 |
| Non-Zero Wtd Avg Initial Cap (%) | 1.989 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.498 |
| |
| Lien Composition | |
| % 1st Lien | 94.20 |
| % 2nd Lien | 5.80 |
| |
| Non-Zero Wtd Avg FICO | 625 |
| % FICO below 600 (inc. N/A) | 31.66 |
| % FICO below 550 (inc. N/A) | 11.13 |
| |
| Wtd Avg Comb Orig LTV | 81.04 |
| % CLTV > 80 | 42.28 |
| % CLTV > 90 | 12.78 |
| % CLTV > 95 | 6.01 |
| |
| % Silent Seconds | 16.96 |
| CLTV incl. all simul. liens (%) | 85.13 |
| |
| Documentation Level | |
| % Full Documentation | 56.34 |
| % Stated Documentation | 42.40 |
| % Limited Documentation | 1.26 |
| |
| % Owner Occupied | 90.68 |
| |
| Loan Purpose | |
| % Cashout Refinance | 52.76 |
| % Purchase | 37.31 |
| % Rate Term Refinance | 9.93 |
| |
| State Concentration (Over 5%) | CA(32.81%),FL(9.99%),NY(6.77%) |
| |
| % Prepay Penalty | 73.73 |
| |
| Wtd Avg Std Orig Term (months) | 359 |
| Wtd Avg Std Rem Term (months) | 355 |
| Wtd Average Loan Age (months) | 4 |
