| DEAL NAME | MSAC 2007-NC2 |
| Closing Date | 5/3/2007 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 1,080,936,239 |
| |
| Sellers | NC(100.00%) |
| Servicers | CW(50.64%),SX(49.36%) |
| |
| Number of Loans | 5,656 |
| Avg Loan Balance ($) | 191,113 |
| |
| Fixed/Floating | |
| % FRM | 20.70 |
| % ARM | 79.30 |
| |
| %IO | 19.94 |
| Wtd Avg IO Term (months) | 60 |
| |
| Wtd Avg Current Mortgage Rate (%) | 8.287 |
| Non-Zero Wtd Avg Margin (%) | 6.191 |
| Non-Zero Wtd Avg Initial Cap (%) | 1.995 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.498 |
| |
| Lien Composition | |
| % 1st Lien | 95.15 |
| % 2nd Lien | 4.85 |
| |
| Non-Zero Wtd Avg FICO | 621 |
| % FICO below 600 (inc. N/A) | 33.78 |
| % FICO below 550 (inc. N/A) | 13.16 |
| |
| Wtd Avg Comb Orig LTV | 81.94 |
| % CLTV > 80 | 44.00 |
| % CLTV > 90 | 13.25 |
| % CLTV > 95 | 5.08 |
| |
| % Silent Seconds | 25.40 |
| CLTV incl. all simul. liens (%) | 87.68 |
| |
| Documentation Level | |
| % Full Documentation | 57.32 |
| % Stated Documentation | 41.14 |
| % Limited Documentation | 1.53 |
| |
| % Owner Occupied | 90.11 |
| |
| Loan Purpose | |
| % Cashout Refinance | 49.67 |
| % Purchase | 40.17 |
| % Rate Term Refinance | 10.16 |
| |
| State Concentration (Over 5%) | CA(32.10%),FL(9.49%),NY(6.62%),TX(5.20%) |
| |
| % Prepay Penalty | 73.29 |
| |
| Wtd Avg Std Orig Term (months) | 359 |
| Wtd Avg Std Rem Term (months) | 354 |
| Wtd Average Loan Age (months) | 5 |
