| DEAL NAME | MSHEL 2006-1 |
| Closing Date | 1/26/2006 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 1,228,291,829 |
| |
| Sellers | DO(25.57%),FNLC(23.85%),WIL(16.80%),CW(16.17%),AHL(10.41%),MER(7.20%) |
| Servicers | HQ(83.79%),CW(16.17%) |
| |
| Number of Loans | 7,627 |
| Avg Loan Balance ($) | 161,045 |
| |
| Fixed/Floating | |
| % FRM | 15.13 |
| % ARM | 84.87 |
| |
| %IO | 23.90 |
| Wtd Avg IO Term (months) | 58 |
| |
| Wtd Avg Current Mortgage Rate (%) | 7.349 |
| Non-Zero Wtd Avg Margin (%) | 6.407 |
| Non-Zero Wtd Avg Initial Cap (%) | 2.611 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.284 |
| |
| Lien Composition | |
| % 1st Lien | 96.09 |
| % 2nd Lien | 3.91 |
| |
| Non-Zero Wtd Avg FICO | 633 |
| % FICO below 600 (inc. N/A) | 27.73 |
| % FICO below 550 (inc. N/A) | 7.26 |
| |
| Wtd Avg Comb Orig LTV | 81.82 |
| % CLTV > 80 | 38.89 |
| % CLTV > 90 | 11.71 |
| % CLTV > 95 | 7.44 |
| |
| % Silent Seconds | 26.33 |
| CLTV incl. all simul. liens (%) | 89.05 |
| |
| Documentation Level | |
| % Full Documentation | 50.75 |
| % Stated Documentation | 48.64 |
| % Limited Documentation | 0.62 |
| |
| % Owner Occupied | 94.71 |
| |
| Loan Purpose | |
| % Cashout Refinance | 48.67 |
| % Purchase | 45.92 |
| % Rate Term Refinance | 5.42 |
| |
| State Concentration (Over 5%) | CA(21.44%),FL(11.81%),IL(7.96%) |
| |
| % Prepay Penalty | 83.46 |
| |
| Wtd Avg Std Orig Term (months) | 352 |
| Wtd Avg Std Rem Term (months) | 349 |
| Wtd Average Loan Age (months) | 4 |
