| DEAL NAME | MSM 2004-1 |
| Closing Date | 1/30/2004 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 283,037,972 |
| |
| Sellers (Over 10%) | National City Mortgage Co.(58.21%),IndyMac Bank, F.S.B.(40.16%) |
| |
| Servicers (Over 10%) | National City Mortgage Co.(58.21%),IndyMac Bank, F.S.B.(40.16%) |
| |
| Number of Loans | 655 |
| Avg Loan Balance ($) | 432,119 |
| |
| Fixed/Floating | |
| % FRM | 100 |
| % ARM | 0 |
| % Short Arm | 0 |
| % 3/1 or 3/6 | 0 |
| % 5/1 or 5/6 | 0 |
| % 7/1 or 7/6 | 0 |
| % 10/1 or 10/6 | 0 |
| |
| % IO | 0 |
| Wtd Avg IO Term (months) | 0 |
| |
| Wtd Avg Current Mortgage Rate (%) | 5.663 |
| < 4.00% | 0 |
| 4.0000% - 4.9999% | 4.5 |
| 5.0000% - 5.9999% | 78.55 |
| 6.0000% - 6.9999% | 11.38 |
| 7.0000% - 7.9999% | 3.69 |
| 8.0000% - 8.9999% | 1.76 |
| 9.0000% - 9.9999% | 0.13 |
| 10.0000% - 10.9999% | 0 |
| 11.000% + | 0 |
| |
| Non-Zero Wtd Avg Margin (%) | 0 |
| Non-Zero Wtd Avg Initial Cap (%) | 0 |
| Non-Zero Wtd Avg Periodic Cap (%) | 0 |
| |
| Lien Composition | |
| % 1st Lien | 100 |
| % 2nd Lien | 0 |
| |
| Non-Zero Wtd Avg FICO | 736 |
| % FICO below 660 (inc. N/A) | 5.41 |
| % FICO below 620 (inc. N/A) | 0.04 |
| |
| Wtd Avg Orig LTV | 61.18 |
| % LTV > 80 | 4.94 |
| % LTV > 90 | 2.83 |
| % LTV > 95 | 0 |
| |
| Documentation Level | |
| % Full/Alt Documentation | 56.32 |
| % Stated Documentation | 35.79 |
| % No Documentation | 7.89 |
| |
| % Owner Occupied | 97.11 |
| % Investor | 0.63 |
| % Second Home | 2.26 |
| |
| Loan Purpose | |
| % Cashout Refinance | 23.41 |
| % Purchase | 11.04 |
| % Rate Term Refinance | 65.56 |
| |
| State Concentration (Over 5%) | CA(45.00%),TX(7.21%),VA(7.01%) |
| |
| % Prepay Penalty | 0 |
| |
| Wtd Avg Std Orig Term (months) | 230 |
| Wtd Avg Std Rem Term (months) | 222 |
| Wtd Average Loan Age (months) | 8 |
