| DEAL NAME | MSHEL 2005-3 |
| Closing Date | 8/31/2005 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 775,298,982 |
| |
| Sellers | WIL(48.03%),MER(25%),ACC(14.92%),MILA(12.05%) |
| Servicers | HQ(41.26%),CH(58.74%) |
| |
| Number of Loans | 5092 |
| Avg Loan Balance ($) | 152,258 |
| |
| Fixed/Floating | |
| % FRM | 17.74 |
| % ARM | 82.26 |
| |
| %IO | 35.16 |
| Wtd Avg IO Term (months) | 51 |
| |
| Wtd Avg Current Mortgage Rate (%) | 7.272 |
| Non-Zero Wtd Avg Margin (%) | 6.207 |
| Non-Zero Wtd Avg Initial Cap (%) | 2.861 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.141 |
| |
| Lien Composition | |
| % 1st Lien | 95.33 |
| % 2nd Lien | 4.67 |
| |
| Non-Zero Wtd Avg FICO | 637 |
| % FICO below 600 (inc. N/A) | 24.53 |
| % FICO below 550 (inc. N/A) | 6.40 |
| |
| Wtd Avg Comb Orig LTV | 82.16 |
| % CLTV > 80 | 35.82 |
| % CLTV > 90 | 14.90 |
| % CLTV > 95 | 9.72 |
| |
| % Silent Seconds | 21.97 |
| CLTV incl. all simul. liens (%) | 90.18 |
| |
| Documentation Level | |
| % Full Documentation | 53.24 |
| % Stated Documentation | 43.33 |
| % Limited Documentation | 3.35 |
| % Lite Documentation | 0.08 |
| |
| % Owner Occupied | 96.46 |
| |
| Loan Purpose | |
| % Cashout Refinance | 41.27 |
| % Purchase | 52.88 |
| % Rate Term Refinance | 5.85 |
| |
| State Concentration (Over 5%) | CA(26.03%),FL(7.67%) |
| |
| % Prepay Penalty | 88.11 |
| |
| Wtd Avg Std Orig Term (months) | 351 |
| Wtd Avg Std Rem Term (months) | 348 |
| Wtd Average Loan Age (months) | 3 |
