| DEAL NAME | MSM 2006-4SL |
| Closing Date | 3/31/2006 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 303,460,767.00 |
| |
| Sellers | Morgan Stanley(76%),American Home Mortgage(16%),Aegis Mortgage Corporation(7%) |
| Servicers | HomeEq(100%) |
| |
| Number of Loans | 5,395 |
| Avg Loan Balance ($) | 56,249.00 |
| |
| Fixed/Floating | |
| % FRM | 100.00 |
| % ARM | 0.00 |
| % Balloon | 73.39 |
| % IO | 9.40 |
| Wtd Avg IO Term (months) | 103 |
| |
| Wtd Avg Current Mortgage Rate (%) | 10.850 |
| |
| Lien Composition | |
| % 1st Lien | 0.00 |
| % 2nd Lien | 100.00 |
| |
| Non-Zero Wtd Avg FICO | 685 |
| % FICO below 660 (inc. N/A) | 32.08 |
| % FICO below 620 (inc. N/A) | 3.68 |
| |
| Wtd Avg Comb Orig LTV | 96.06 |
| % LTV > 80 | 94.38 |
| % LTV > 90 | 79.55 |
| % LTV > 95 | 64.59 |
| |
| Wtd Avg Orig Junior LTV | 20.01 |
| % Junior LTV > 15 | 82.02 |
| % Junior LTV > 20 | 19.41 |
| |
| Documentation Level | |
| % Full Documentation | 21.23 |
| % Stated Documentation | 7.73 |
| % Limited Documentation | 37.97 |
| % No Documentation | 11.89 |
| |
| % Owner Occupied | 77.63 |
| % Investor Occupied | 18.40 |
| % Secondary Occupied | 3.97 |
| |
| Loan Purpose | |
| % Cashout Refinance | 18.11 |
| % Purchase | 78.83 |
| % Rate Term Refinance | 3.06 |
| |
| State Concentration (Over 5%) | CA(25.11%),NY(11.02%),NV(6.30%),FL(5.85%),VA(5.15%) |
| |
| % Prepay Penalty | |
| |
| Wtd Avg Std Orig Term (months) | |
| Wtd Avg Std Rem Term (months) | |
| Wtd Average Loan Age (months) | |
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