| DEAL NAME | MSC 2003-NC4 |
| Closing Date | 4/29/2003 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 756,263,898 |
| |
| Sellers | NC(100.00%) |
| Servicers | LT(100.00%) |
| |
| Number of Loans | 4632 |
| Avg Loan Balance ($) | 163,269 |
| |
| Fixed/Floating | |
| % FRM | 27.20 |
| % ARM | 72.80 |
| |
| %IO | 2.08 |
| Wtd Avg IO Term (months) | 120 |
| |
| Wtd Avg Current Mortgage Rate (%) | 7.579 |
| Non-Zero Wtd Avg Margin (%) | 6.437 |
| Non-Zero Wtd Avg Initial Cap (%) | 1.541 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.540 |
| |
| Lien Composition | |
| % 1st Lien | 98.82 |
| % 2nd Lien | 1.18 |
| |
| Non-Zero Wtd Avg FICO | 607 |
| % FICO below 600 (inc. N/A) | 45.33 |
| % FICO below 550 (inc. N/A) | 21.82 |
| |
| Wtd Avg Comb Orig LTV | 80.40 |
| % CLTV > 80 | 49.49 |
| % CLTV > 90 | 12.03 |
| % CLTV > 95 | 6.13 |
| |
| % Silent Seconds | 7.37 |
| CLTV incl. all simul. liens (%) | 80.43 |
| |
| Documentation Level | |
| % Full Documentation | 57.71 |
| % Stated Documentation | 35.29 |
| % Limited Documentation | 6.99 |
| |
| % Owner Occupied | 93.75 |
| |
| Loan Purpose | |
| % Cashout Refinance | 66.99 |
| % Purchase | 18.40 |
| % Rate Term Refinance | 14.61 |
| |
| State Concentration (Over 5%) | CA(43.07%),FL(6.31%),IL(5.11%) |
| |
| % Prepay Penalty | 81.74 |
| |
| Wtd Avg Std Orig Term (months) | 353 |
| Wtd Avg Std Rem Term (months) | 350 |
| Wtd Average Loan Age (months) | 2 |
