| DEAL NAME | MSHEL 2006-2 |
| Closing Date | 3/30/2006 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 996,245,245 |
| |
| Sellers | WIL(45.20%),AHL(26.14%),MER(19.33%),FNLC(9.05%) |
| Servicers | CH(35.92%),HQ(63.80%) |
| |
| Number of Loans | 5,452 |
| Avg Loan Balance ($) | 182,730 |
| |
| Fixed/Floating | |
| % FRM | 17.54 |
| % ARM | 82.46 |
| |
| %IO | 29.94 |
| Wtd Avg IO Term (months) | 60 |
| |
| Wtd Avg Current Mortgage Rate (%) | 7.693 |
| Non-Zero Wtd Avg Margin (%) | 6.661 |
| Non-Zero Wtd Avg Initial Cap (%) | 2.474 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.303 |
| |
| Lien Composition | |
| % 1st Lien | 96.84 |
| % 2nd Lien | 3.16 |
| |
| Non-Zero Wtd Avg FICO | 635 |
| % FICO below 600 (inc. N/A) | 25.61 |
| % FICO below 550 (inc. N/A) | 8.78 |
| |
| Wtd Avg Comb Orig LTV | 82.10 |
| % CLTV > 80 | 38.48 |
| % CLTV > 90 | 13.52 |
| % CLTV > 95 | 9.31 |
| |
| % Silent Seconds | 24.34 |
| CLTV incl. all simul. liens (%) | 89.21 |
| |
| Documentation Level | |
| % Full Documentation | 52.10 |
| % Stated Documentation | 47.88 |
| % Limited Documentation | 0.03 |
| |
| % Owner Occupied | 96.17 |
| |
| Loan Purpose | |
| % Cashout Refinance | 48.22 |
| % Purchase | 43.78 |
| % Rate Term Refinance | 7.99 |
| |
| State Concentration (Over 5%) | CA(23.42%),FL(9.91%),NY(7.17%),IL(5.63%) |
| |
| % Prepay Penalty | 90.16 |
| |
| Wtd Avg Std Orig Term (months) | 354 |
| Wtd Avg Std Rem Term (months) | 350 |
| Wtd Average Loan Age (months) | 4 |
