| DEAL NAME | MSM 2006-9AR |
| Closing Date | 7/31/2006 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 652,220,892 |
| |
| Sellers (Over 10%) | Morgan Stanley Mortgage Capital Inc.(76.01%),First National Bank of Nevada(15.34%) |
| |
| Servicers (Over 10%) | GMAC Mortgage Corporation(95.25%) |
| |
| Number of Loans | 2,152 |
| Avg Loan Balance ($) | 303,077 |
| |
| Fixed/Floating | |
| % FRM | 0 |
| % ARM | 100 |
| % Short Arm | 5.23 |
| % 3/1 or 3/6 | 8.81 |
| % 5/1 or 5/6 | 81.16 |
| % 7/1 or 7/6 | 0.53 |
| % 10/1 or 10/6 | 4.26 |
| |
| % IO | 86.79 |
| Wtd Avg IO Term (months) | 111 |
| |
| Wtd Avg Current Mortgage Rate (%) | 7.334 |
| < 4.00% | 0 |
| 4.0000% - 4.9999% | 0.11 |
| 5.0000% - 5.9999% | 2.24 |
| 6.0000% - 6.9999% | 25.65 |
| 7.0000% - 7.9999% | 55.21 |
| 8.0000% - 8.9999% | 16 |
| 9.0000% - 9.9999% | 0.8 |
| 10.0000% - 10.9999% | 0 |
| 11.000% + | 0 |
| |
| Non-Zero Wtd Avg Margin (%) | 2.919 |
| Non-Zero Wtd Avg Initial Cap (%) | 5.358 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.615 |
| |
| Lien Composition | |
| % 1st Lien | 100 |
| % 2nd Lien | 0 |
| |
| Non-Zero Wtd Avg FICO | 699 |
| % FICO below 660 (inc. N/A) | 19.96 |
| % FICO below 620 (inc. N/A) | 1.96 |
| |
| Wtd Avg Orig LTV | 76.83 |
| % LTV > 80 | 2.78 |
| % LTV > 90 | 0.67 |
| % LTV > 95 | 0.07 |
| |
| Documentation Level | |
| % Full/Alt Documentation | 12.47 |
| % Stated Documentation | 6.89 |
| % Limited Documentation | 50.07 |
| % No Documentation | 9.55 |
| % No Ratio Documentation | 21.01 |
| |
| % Owner Occupied | 75.38 |
| % Investor | 18.71 |
| % Second Home | 5.91 |
| |
| Loan Purpose | |
| % Cashout Refinance | 23.54 |
| % Purchase | 70.74 |
| % Rate Term Refinance | 5.72 |
| |
| State Concentration (Over 5%) | CA(37.55%),FL(11.71%),NV(8.03%),VA(5.61%),AZ(5.09%) |
| |
| % Prepay Penalty | 50.58 |
| |
| Wtd Avg Std Orig Term (months) | 360 |
| Wtd Avg Std Rem Term (months) | 358 |
| Wtd Average Loan Age (months) | 2 |
