| DEAL NAME | MSM 2004-9 |
| Closing Date | 10/29/2004 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 336,877,570 |
| |
| Sellers (Over 10%) | Morgan Stanley Mortgage Capital Inc.(47.42%),Morgan Stanley Credit Corporation(14.06%),NetBank (successor in interest to RBMG, Inc.)(13.96%),Greenpoint Mortgage Funding, Inc.(11.18%) |
| |
| Servicers (Over 10%) | Option One Mortgage Corporation(65.22%),Morgan Stanley Credit Corporation(14.06%),Greenpoint Mortgage Funding, Inc.(11.18%) |
| |
| Number of Loans | 1,501 |
| Avg Loan Balance ($) | 224,435 |
| |
| 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 | 14.96 |
| Wtd Avg IO Term (months) | 119 |
| |
| Wtd Avg Current Mortgage Rate (%) | 6.447 |
| < 4.00% | 0 |
| 4.0000% - 4.9999% | 2.13 |
| 5.0000% - 5.9999% | 23.36 |
| 6.0000% - 6.9999% | 53.96 |
| 7.0000% - 7.9999% | 18.07 |
| 8.0000% - 8.9999% | 2.24 |
| 9.0000% - 9.9999% | 0.25 |
| 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 | 701 |
| % FICO below 660 (inc. N/A) | 21.06 |
| % FICO below 620 (inc. N/A) | 4.25 |
| |
| Wtd Avg Orig LTV | 72.62 |
| % LTV > 80 | 19.69 |
| % LTV > 90 | 10.01 |
| % LTV > 95 | 0.66 |
| |
| Documentation Level | |
| % Full/Alt Documentation | 19.37 |
| % Stated Documentation | 2.07 |
| % Limited Documentation | 26.95 |
| % No Documentation | 27.3 |
| % No Ratio Documentation | 17.57 |
| % Lite Documentation | 5.25 |
| |
| % Owner Occupied | 84.79 |
| % Investor | 11.1 |
| % Second Home | 4.11 |
| |
| Loan Purpose | |
| % Cashout Refinance | 42.43 |
| % Purchase | 38.94 |
| % Rate Term Refinance | 18.63 |
| |
| State Concentration (Over 5%) | CA(32.19%),FL(10.24%),NY(8.25%),TX(5.84%),MA(5.32%) |
| |
| % Prepay Penalty | 39.92 |
| |
| Wtd Avg Std Orig Term (months) | 333 |
| Wtd Avg Std Rem Term (months) | 327 |
| Wtd Average Loan Age (months) | 6 |
