| DEAL NAME | MSDWC 2003-NC3 |
| Closing Date | 3/26/2003 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 696,639,551 |
| |
| Sellers | NC(100.00%) |
| Servicers | LT(100.00%) |
| |
| Number of Loans | 4395 |
| Avg Loan Balance ($) | 158,507 |
| |
| Fixed/Floating | |
| % FRM | 28.49 |
| % ARM | 71.51 |
| |
| %IO | 4.10 |
| Wtd Avg IO Term (months) | 120 |
| |
| Wtd Avg Current Mortgage Rate (%) | 7.841 |
| Non-Zero Wtd Avg Margin (%) | 6.460 |
| Non-Zero Wtd Avg Initial Cap (%) | 1.583 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.583 |
| |
| Lien Composition | |
| % 1st Lien | 97.69 |
| % 2nd Lien | 2.31 |
| |
| Non-Zero Wtd Avg FICO | 595 |
| % FICO below 600 (inc. N/A) | 56.23 |
| % FICO below 550 (inc. N/A) | 28.37 |
| |
| Wtd Avg Comb Orig LTV | 78.65 |
| % CLTV > 80 | 40.60 |
| % CLTV > 90 | 5.11 |
| % CLTV > 95 | 2.24 |
| |
| % Silent Seconds | 0.13 |
| CLTV incl. all simul. liens (%) | 80.08 |
| |
| Documentation Level | |
| % Full Documentation | 63.77 |
| % Stated Documentation | 30.47 |
| % Limited Documentation | 5.76 |
| |
| % Owner Occupied | 94.91 |
| |
| Loan Purpose | |
| % Cashout Refinance | 65.36 |
| % Purchase | 18.21 |
| % Rate Term Refinance | 16.43 |
| |
| State Concentration (Over 5%) | CA(43.26%),FL(6.21%) |
| |
| % Prepay Penalty | 79.42 |
| |
| Wtd Avg Std Orig Term (months) | 351 |
| Wtd Avg Std Rem Term (months) | 349 |
| Wtd Average Loan Age (months) | 2 |
