| DEAL NAME | MSAC 2007-NC3 |
| Closing Date | 5/31/2007 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 1,304,294,661 |
| |
| Sellers | NC(100.00%) |
| Servicers | SX(98.46%),CW(1.54%) |
| |
| Number of Loans | 6,792 |
| Avg Loan Balance ($) | 192,033 |
| |
| Fixed/Floating | |
| % FRM | 22.51 |
| % ARM | 77.49 |
| |
| %IO | 20.74 |
| Wtd Avg IO Term (months) | 60 |
| |
| Wtd Avg Current Mortgage Rate (%) | 8.217 |
| Non-Zero Wtd Avg Margin (%) | 6.189 |
| Non-Zero Wtd Avg Initial Cap (%) | 1.915 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.499 |
| |
| Lien Composition | |
| % 1st Lien | 94.02 |
| % 2nd Lien | 5.98 |
| |
| Non-Zero Wtd Avg FICO | 624 |
| % FICO below 600 (inc. N/A) | 31.04 |
| % FICO below 550 (inc. N/A) | 11.78 |
| |
| Wtd Avg Comb Orig LTV | 82.03 |
| % CLTV > 80 | 44.82 |
| % CLTV > 90 | 15.17 |
| % CLTV > 95 | 6.23 |
| |
| % Silent Seconds | 17.89 |
| CLTV incl. all simul. liens (%) | 86.61 |
| |
| Documentation Level | |
| % Full Documentation | 58.05 |
| % Stated Documentation | 40.56 |
| % Limited Documentation | 1.40 |
| |
| % Owner Occupied | 90.19 |
| |
| Loan Purpose | |
| % Cashout Refinance | 54.82 |
| % Purchase | 34.27 |
| % Rate Term Refinance | 10.91 |
| |
| State Concentration (Over 5%) | CA(32.22%),FL(9.24%),NY(6.56%),TX(6.34%),NJ(5.18%) |
| |
| % Prepay Penalty | 72.04 |
| |
| Wtd Avg Std Orig Term (months) | 359 |
| Wtd Avg Std Rem Term (months) | 355 |
| Wtd Average Loan Age (months) | 4 |
