| DEAL NAME | MSDWC 2003-NC2 |
| Closing Date | 2/26/2003 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 1,082,683,538 |
| |
| Sellers | NC(100.00%) |
| Servicers | LT(100.00%) |
| |
| Number of Loans | 6633 |
| Avg Loan Balance ($) | 163,226 |
| |
| Fixed/Floating | |
| % FRM | 26.62 |
| % ARM | 73.38 |
| |
| %IO | 2.86 |
| Wtd Avg IO Term (months) | 120 |
| |
| Wtd Avg Current Mortgage Rate (%) | 7.713 |
| Non-Zero Wtd Avg Margin (%) | 6.415 |
| Non-Zero Wtd Avg Initial Cap (%) | 1.558 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.557 |
| |
| Lien Composition | |
| % 1st Lien | 99.52 |
| % 2nd Lien | 0.48 |
| |
| Non-Zero Wtd Avg FICO | 605 |
| % FICO below 600 (inc. N/A) | 47.69 |
| % FICO below 550 (inc. N/A) | 22.51 |
| |
| Wtd Avg Comb Orig LTV | 79.11 |
| % CLTV > 80 | 43.79 |
| % CLTV > 90 | 3.42 |
| % CLTV > 95 | 0.46 |
| |
| % Silent Seconds | 8.17 |
| CLTV incl. all simul. liens (%) | 80.37 |
| |
| Documentation Level | |
| % Full Documentation | 58.64 |
| % Stated Documentation | 35.69 |
| % Limited Documentation | 5.67 |
| |
| % Owner Occupied | 94.02 |
| |
| Loan Purpose | |
| % Cashout Refinance | 64.83 |
| % Purchase | 20.24 |
| % Rate Term Refinance | 14.93 |
| |
| State Concentration (Over 5%) | CA(46.22%),FL(5.69%) |
| |
| % Prepay Penalty | 80.58 |
| |
| Wtd Avg Std Orig Term (months) | 353 |
| Wtd Avg Std Rem Term (months) | 350 |
| Wtd Average Loan Age (months) | 2 |
