| DEAL NAME | MSM 2004-6AR |
| Closing Date | 7/30/2004 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 1,354,824,456 |
| |
| Sellers (Over 10%) | Countrywide Home Loans, Inc.(43.86%),Morgan Stanley Mortgage Capital Inc.(28.86%),Greenpoint Mortgage Funding, Inc.(12.14%) |
| |
| Servicers (Over 10%) | Countrywide Home Loans Servicing LP(43.86%),Option One Mortgage Corporation(30.71%),Greenpoint Mortgage Funding, Inc.(12.14%) |
| |
| Number of Loans | 3,860 |
| Avg Loan Balance ($) | 350,991 |
| |
| Fixed/Floating | |
| % FRM | 6.33 |
| % ARM | 93.67 |
| % Short Arm | 6.35 |
| % 3/1 or 3/6 | 38.91 |
| % 5/1 or 5/6 | 38.23 |
| % 7/1 or 7/6 | 8.18 |
| % 10/1 or 10/6 | 2 |
| |
| % IO | 67.61 |
| Wtd Avg IO Term (months) | 63 |
| |
| Wtd Avg Current Mortgage Rate (%) | 4.925 |
| < 4.00% | 9.75 |
| 4.0000% - 4.9999% | 41.29 |
| 5.0000% - 5.9999% | 40.2 |
| 6.0000% - 6.9999% | 8.21 |
| 7.0000% - 7.9999% | 0.47 |
| 8.0000% - 8.9999% | 0.07 |
| 9.0000% - 9.9999% | 0 |
| 10.0000% - 10.9999% | 0 |
| 11.000% + | 0 |
| |
| Non-Zero Wtd Avg Margin (%) | 2.364 |
| Non-Zero Wtd Avg Initial Cap (%) | 4.119 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.787 |
| |
| Lien Composition | |
| % 1st Lien | 100 |
| % 2nd Lien | 0 |
| |
| Non-Zero Wtd Avg FICO | 721 |
| % FICO below 660 (inc. N/A) | 8.29 |
| % FICO below 620 (inc. N/A) | 1.06 |
| |
| Wtd Avg Orig LTV | 72.9 |
| % LTV > 80 | 4.92 |
| % LTV > 90 | 1.82 |
| % LTV > 95 | 0.4 |
| |
| Documentation Level | |
| % Full/Alt Documentation | 38.15 |
| % Stated Documentation | 3.04 |
| % Limited Documentation | 44.29 |
| % No Documentation | 5.56 |
| % No Ratio Documentation | 3.85 |
| % Lite Documentation | 0.75 |
| |
| % Owner Occupied | 91.16 |
| % Investor | 4.34 |
| % Second Home | 4.5 |
| |
| Loan Purpose | |
| % Cashout Refinance | 20.96 |
| % Purchase | 53.98 |
| % Rate Term Refinance | 25.06 |
| |
| State Concentration (Over 5%) | CA(49.21%) |
| |
| % Prepay Penalty | 15.84 |
| |
| Wtd Avg Std Orig Term (months) | 360 |
| Wtd Avg Std Rem Term (months) | 357 |
| Wtd Average Loan Age (months) | 2 |
