| DEAL NAME | MSM 2004-3 |
| Closing Date | 5/28/2004 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 757,531,079 |
| |
| Sellers (Over 10%) | National City Mortgage Co.(50.81%),CitiMortgage, Inc.(35.66%) |
| |
| Servicers (Over 10%) | National City Mortgage Co.(50.81%),CitiMortgage, Inc.(35.66%) |
| |
| Number of Loans | 4,098 |
| Avg Loan Balance ($) | 184,854 |
| |
| 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 (%) | 5.966 |
| < 4.00% | 0.06 |
| 4.0000% - 4.9999% | 1.58 |
| 5.0000% - 5.9999% | 46.14 |
| 6.0000% - 6.9999% | 51.54 |
| 7.0000% - 7.9999% | 0.68 |
| 8.0000% - 8.9999% | 0 |
| 9.0000% - 9.9999% | 0 |
| 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 | 731 |
| % FICO below 660 (inc. N/A) | 3.96 |
| % FICO below 620 (inc. N/A) | 1.03 |
| |
| Wtd Avg Orig LTV | 67.41 |
| % LTV > 80 | 11.45 |
| % LTV > 90 | 0.67 |
| % LTV > 95 | 0.19 |
| |
| Documentation Level | |
| % Full/Alt Documentation | 12.52 |
| % Stated Documentation | 50.97 |
| % Limited Documentation | 3.93 |
| % No Documentation | 1.35 |
| % No Ratio Documentation | 1.1 |
| % Lite Documentation | 1.31 |
| |
| % Owner Occupied | 53.04 |
| % Investor | 42.64 |
| % Second Home | 4.32 |
| |
| Loan Purpose | |
| % Cashout Refinance | 34.92 |
| % Purchase | 30.07 |
| % Rate Term Refinance | 35 |
| |
| State Concentration (Over 5%) | CA(40.75%) |
| |
| % Prepay Penalty | 0 |
| |
| Wtd Avg Std Orig Term (months) | 338 |
| Wtd Avg Std Rem Term (months) | 331 |
| Wtd Average Loan Age (months) | 7 |
