| DEAL NAME | MSHEL 2006-3 |
| Closing Date | 5/25/2006 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 1,121,234,228 |
| |
| Sellers | WIL(30.60%),AEG(19.88%),MER(19.82%),RES(11.18%),AHL(9.22%),LF(5.06%) |
| Servicers | HE(40.63%),WF(40.29%),CH(19.08%) |
| |
| Number of Loans | 6,423 |
| Avg Loan Balance ($) | 174,565 |
| |
| Fixed/Floating | |
| % FRM | 17.12 |
| % ARM | 82.88 |
| |
| %IO | 27.25 |
| Wtd Avg IO Term (months) | 56 |
| |
| Wtd Avg Current Mortgage Rate (%) | 8.249 |
| Non-Zero Wtd Avg Margin (%) | 6.826 |
| Non-Zero Wtd Avg Initial Cap (%) | 2.538 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.184 |
| |
| Lien Composition | |
| % 1st Lien | 95.09 |
| % 2nd Lien | 4.91 |
| |
| Non-Zero Wtd Avg FICO | 632 |
| % FICO below 600 (inc. N/A) | 26.30 |
| % FICO below 550 (inc. N/A) | 8.86 |
| |
| Wtd Avg Comb Orig LTV | 81.93 |
| % CLTV > 80 | 37.97 |
| % CLTV > 90 | 15.81 |
| % CLTV > 95 | 11.09 |
| |
| % Silent Seconds | 17.66 |
| CLTV incl. all simul. liens (%) | 88.82 |
| |
| Documentation Level | |
| % Full Documentation | 51.35 |
| % Stated Documentation | 48.48 |
| % Limited Documentation | 0.17 |
| |
| % Owner Occupied | 95.72 |
| |
| Loan Purpose | |
| % Cashout Refinance | 46.87 |
| % Purchase | 46.12 |
| % Rate Term Refinance | 7.01 |
| |
| State Concentration (Over 5%) | CA(25.80%),FL(12.04%),AZ(5.48%),NY(5.03%) |
| |
| % Prepay Penalty | 88.22 |
| |
| Wtd Avg Std Orig Term (months) | 352 |
| Wtd Avg Std Rem Term (months) | 348 |
| Wtd Average Loan Age (months) | 4 |
