| DEAL NAME | MSHEL 2007-1 |
| Closing Date | 2/28/2007 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 688,070,578 |
| |
| Sellers | AHL(27.55%),WIL(26.71%),FRE(25.98%),FNLC(19.70%) |
| Servicers | SX(41.10%),WF(31.45%),CW(27.45%) |
| |
| Number of Loans | 3,543 |
| Avg Loan Balance ($) | 194,205 |
| |
| Fixed/Floating | |
| % FRM | 22.64 |
| % ARM | 77.36 |
| |
| %IO | 10.10 |
| Wtd Avg IO Term (months) | 60 |
| |
| Wtd Avg Current Mortgage Rate (%) | 8.379 |
| Non-Zero Wtd Avg Margin (%) | 5.903 |
| Non-Zero Wtd Avg Initial Cap (%) | 2.307 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.363 |
| |
| Lien Composition | |
| % 1st Lien | 94.60 |
| % 2nd Lien | 5.40 |
| |
| Non-Zero Wtd Avg FICO | 630 |
| % FICO below 600 (inc. N/A) | 27.69 |
| % FICO below 550 (inc. N/A) | 10.49 |
| |
| Wtd Avg Comb Orig LTV | 81.25 |
| % CLTV > 80 | 40.72 |
| % CLTV > 90 | 14.13 |
| % CLTV > 95 | 9.26 |
| |
| % Silent Seconds | 14.63 |
| CLTV incl. all simul. liens (%) | 86.46 |
| |
| Documentation Level | |
| % Full Documentation | 52.29 |
| % Stated Documentation | 47.30 |
| % Limited Documentation | 0.40 |
| |
| % Owner Occupied | 93.69 |
| |
| Loan Purpose | |
| % Cashout Refinance | 65.23 |
| % Purchase | 32.95 |
| % Rate Term Refinance | 1.82 |
| |
| State Concentration (Over 5%) | CA(22.61%),FL(13.26%),IL(8.13%),MD(6.65%),NY(6.64%) |
| |
| % Prepay Penalty | 73.86 |
| |
| Wtd Avg Std Orig Term (months) | 353 |
| Wtd Avg Std Rem Term (months) | 349 |
| Wtd Average Loan Age (months) | 4 |
