| DEAL NAME | MSM 2007-2AX |
| Closing Date | 1/31/2007 |
| |
| Initial Collateral Characteristics | |
| Principal Balance ($) | 650,646,510 |
| |
| Sellers (Over 10%) | Morgan Stanley Mortgage Capital Inc.(73.20%) |
| |
| Servicers (Over 10%) | GMAC Mortgage Corporation(81.23%) |
| |
| Number of Loans | 2,075 |
| Avg Loan Balance ($) | 313,565 |
| |
| Fixed/Floating | |
| % FRM | 0 |
| % ARM | 100 |
| % Short Arm | 1.43 |
| % 3/1 or 3/6 | 8.32 |
| % 5/1 or 5/6 | 88.51 |
| % 7/1 or 7/6 | 1.74 |
| % 10/1 or 10/6 | 0 |
| |
| % IO | 86.44 |
| Wtd Avg IO Term (months) | 116 |
| |
| Wtd Avg Current Mortgage Rate (%) | 7.214 |
| < 4.00% | 0 |
| 4.0000% - 4.9999% | 0 |
| 5.0000% - 5.9999% | 0.67 |
| 6.0000% - 6.9999% | 33.82 |
| 7.0000% - 7.9999% | 56.54 |
| 8.0000% - 8.9999% | 8.68 |
| 9.0000% - 9.9999% | 0.3 |
| 10.0000% - 10.9999% | 0 |
| 11.000% + | 0 |
| |
| Non-Zero Wtd Avg Margin (%) | 2.635 |
| Non-Zero Wtd Avg Initial Cap (%) | 5.401 |
| Non-Zero Wtd Avg Periodic Cap (%) | 1.818 |
| |
| Lien Composition | |
| % 1st Lien | 100 |
| % 2nd Lien | 0 |
| |
| Non-Zero Wtd Avg FICO | 701 |
| % FICO below 660 (inc. N/A) | 19.89 |
| % FICO below 620 (inc. N/A) | 0.96 |
| |
| Wtd Avg Orig LTV | 77.15 |
| % LTV > 80 | 3.77 |
| % LTV > 90 | 1.4 |
| % LTV > 95 | 0.7 |
| |
| Documentation Level | |
| % Full/Alt Documentation | 10.22 |
| % Stated Documentation | 10.26 |
| % Limited Documentation | 57.14 |
| % No Documentation | 9.85 |
| % No Ratio Documentation | 12.52 |
| |
| % Owner Occupied | 75.06 |
| % Investor | 19.39 |
| % Second Home | 5.54 |
| |
| Loan Purpose | |
| % Cashout Refinance | 28.77 |
| % Purchase | 61.19 |
| % Rate Term Refinance | 10.04 |
| |
| State Concentration (Over 5%) | CA(40.92%),FL(10.09%),NY(6.46%) |
| |
| % Prepay Penalty | 47.37 |
| |
| Wtd Avg Std Orig Term (months) | 360 |
| Wtd Avg Std Rem Term (months) | 356 |
| Wtd Average Loan Age (months) | 4 |
