| DEAL NAME | MSM 2006-16AX |
| Closing Date | 10/31/2006 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 956,297,395 |
| |
| Sellers (Over 10%) | Morgan Stanley Mortgage Capital Inc.(78.90%),American Home Mortgage Corp.(10.00%) |
| |
| Servicers (Over 10%) | GMAC Mortgage Corporation(100.00%) |
| |
| Number of Loans | 2,907 |
| Avg Loan Balance ($) | 328,964 |
| |
| Fixed/Floating | |
| % FRM | 0 |
| % ARM | 100 |
| % Short Arm | 1.3 |
| % 3/1 or 3/6 | 4.41 |
| % 5/1 or 5/6 | 66.12 |
| % 7/1 or 7/6 | 3.41 |
| % 10/1 or 10/6 | 24.77 |
| |
| % IO | 89.93 |
| Wtd Avg IO Term (months) | 117 |
| |
| Wtd Avg Current Mortgage Rate (%) | 7.378 |
| < 4.00% | 0 |
| 4.0000% - 4.9999% | 0 |
| 5.0000% - 5.9999% | 0.17 |
| 6.0000% - 6.9999% | 20.37 |
| 7.0000% - 7.9999% | 67.29 |
| 8.0000% - 8.9999% | 11.77 |
| 9.0000% - 9.9999% | 0.39 |
| 10.0000% - 10.9999% | 0.01 |
| 11.000% + | 0 |
| |
| Non-Zero Wtd Avg Margin (%) | 2.498 |
| Non-Zero Wtd Avg Initial Cap (%) | 5.645 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.85 |
| |
| Lien Composition | |
| % 1st Lien | 100 |
| % 2nd Lien | 0 |
| |
| Non-Zero Wtd Avg FICO | 699 |
| % FICO below 660 (inc. N/A) | 19.88 |
| % FICO below 620 (inc. N/A) | 0.99 |
| |
| Wtd Avg Orig LTV | 76.6 |
| % LTV > 80 | 3.42 |
| % LTV > 90 | 1.32 |
| % LTV > 95 | 0.85 |
| |
| Documentation Level | |
| % Full/Alt Documentation | 7.78 |
| % Stated Documentation | 10.75 |
| % Limited Documentation | 56.97 |
| % No Documentation | 8.54 |
| % No Ratio Documentation | 15.96 |
| |
| % Owner Occupied | 80.51 |
| % Investor | 14.75 |
| % Second Home | 4.73 |
| |
| Loan Purpose | |
| % Cashout Refinance | 28.93 |
| % Purchase | 59.59 |
| % Rate Term Refinance | 11.49 |
| |
| State Concentration (Over 5%) | CA(41.30%),NY(10.31%),FL(7.64%) |
| |
| % Prepay Penalty | 47.66 |
| |
| Wtd Avg Std Orig Term (months) | 360 |
| Wtd Avg Std Rem Term (months) | 358 |
| Wtd Average Loan Age (months) | 2 |
