| DEAL NAME | MSM 2005-9AR |
| Closing Date | 11/30/2005 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 606,212,138 |
| |
| Sellers (Over 10%) | Morgan Stanley Mortgage Capital Inc.(47.17%),First National Bank of Nevada(18.55%),Wells Fargo Bank, National Association(11.50%),HSBC Mortgage Corporation (USA)(10.65%) |
| |
| Servicers (Over 10%) | GMAC Mortgage Corporation(76.39%),Wells Fargo Bank, National Association(11.50%),HSBC Mortgage Corporation (USA)(10.65%) |
| |
| Number of Loans | 1,675 |
| Avg Loan Balance ($) | 361,918 |
| |
| Fixed/Floating | |
| % FRM | 21.67 |
| % ARM | 78.33 |
| % Short Arm | 4.48 |
| % 3/1 or 3/6 | 25.2 |
| % 5/1 or 5/6 | 40.53 |
| % 7/1 or 7/6 | 0 |
| % 10/1 or 10/6 | 8.11 |
| |
| % IO | 71.46 |
| Wtd Avg IO Term (months) | 102 |
| |
| Wtd Avg Current Mortgage Rate (%) | 5.934 |
| < 4.00% | 0.69 |
| 4.0000% - 4.9999% | 5.91 |
| 5.0000% - 5.9999% | 48.6 |
| 6.0000% - 6.9999% | 40.2 |
| 7.0000% - 7.9999% | 4.57 |
| 8.0000% - 8.9999% | 0.01 |
| 9.0000% - 9.9999% | 0.03 |
| 10.0000% - 10.9999% | 0 |
| 11.000% + | 0 |
| |
| Non-Zero Wtd Avg Margin (%) | 2.508 |
| Non-Zero Wtd Avg Initial Cap (%) | 4.826 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.704 |
| |
| Lien Composition | |
| % 1st Lien | 100 |
| % 2nd Lien | 0 |
| |
| Non-Zero Wtd Avg FICO | 718 |
| % FICO below 660 (inc. N/A) | 9.67 |
| % FICO below 620 (inc. N/A) | 1.37 |
| |
| Wtd Avg Orig LTV | 71.89 |
| % LTV > 80 | 1.79 |
| % LTV > 90 | 0.37 |
| % LTV > 95 | 0.06 |
| |
| Documentation Level | |
| % Full/Alt Documentation | 23.13 |
| % Stated Documentation | 1.14 |
| % Limited Documentation | 54.25 |
| % No Documentation | 14.32 |
| % No Ratio Documentation | 7.15 |
| |
| % Owner Occupied | 86.37 |
| % Investor | 10.63 |
| % Second Home | 3 |
| |
| Loan Purpose | |
| % Cashout Refinance | 32.9 |
| % Purchase | 51.04 |
| % Rate Term Refinance | 16.05 |
| |
| State Concentration (Over 5%) | CA(43.06%),FL(7.64%),VA(6.71%) |
| |
| % Prepay Penalty | 34.11 |
| |
| Wtd Avg Std Orig Term (months) | 360 |
| Wtd Avg Std Rem Term (months) | 353 |
| Wtd Average Loan Age (months) | 7 |
