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the investments concerned. NOT FOR DISTRIBUTION TO PRIVATE CUSTOMERS AS DEFINED
BY THE U.K. SECURITIES AND FUTURES AUTHORITY.



                                 MORGAN STANLEY
                     IXIS CAPITAL MARKETS NORTH AMERICA INC.
                                    2005-HE1
                                   ALL RECORDS

1.   FICO SPREADSHEET REQUEST


-------------------------------------------------------------------------------------------------------------------------------
                                                                                                           MASTER &    SCHED
                                                        % OF      GROSS      GROSS     GROSS      GROSS    SUB SERV     REM
FICO SPREADSHEET REQUEST     COUNT       BALANCE       BALANCE     RATE     MARGIN    LIFECAP   LIFEFLOOR    FEES       TERM
-------------------------------------------------------------------------------------------------------------------------------

500 - 500                        6       1,478,992       0.25     8.752      8.072    14.889      8.798       0.52       358
-------------------------------------------------------------------------------------------------------------------------------
501 - 510                       94      13,863,557       2.37     8.715      7.176    15.280      8.724       0.52       357
-------------------------------------------------------------------------------------------------------------------------------
511 - 520                      116      18,150,694       3.11     8.838      7.341    15.284      8.826       0.52       355
-------------------------------------------------------------------------------------------------------------------------------
521 - 530                      114      16,299,213       2.79     8.406      7.091    14.734      8.353       0.52       354
-------------------------------------------------------------------------------------------------------------------------------
531 - 540                      109      16,237,471       2.78     8.544      7.194    14.834      8.530       0.52       356
-------------------------------------------------------------------------------------------------------------------------------
541 - 550                      105      15,213,971       2.60     8.597      7.502    14.913      8.578       0.52       354
-------------------------------------------------------------------------------------------------------------------------------
551 - 560                      136      19,770,873       3.38     7.910      7.088    14.462      7.916       0.52       354
-------------------------------------------------------------------------------------------------------------------------------
561 - 570                      134      21,380,327       3.66     7.956      6.986    14.438      7.922       0.52       355
-------------------------------------------------------------------------------------------------------------------------------
571 - 580                      122      21,221,109       3.63     7.701      6.805    14.173      7.668       0.52       355
-------------------------------------------------------------------------------------------------------------------------------
581 - 590                      166      28,181,191       4.82     7.609      6.554    14.028      7.484       0.52       354
-------------------------------------------------------------------------------------------------------------------------------
591 - 600                      168      29,938,925       5.12     7.347      6.776    13.841      7.205       0.52       352
-------------------------------------------------------------------------------------------------------------------------------
601 - 610                      194      31,633,934       5.41     7.439      6.486    13.853      7.216       0.52       351
-------------------------------------------------------------------------------------------------------------------------------
611 - 620                      196      34,129,104       5.84     7.326      6.434    13.790      7.179       0.52       351
-------------------------------------------------------------------------------------------------------------------------------
621 - 630                      198      37,228,203       6.37     7.274      6.501    13.772      7.168       0.52       350
-------------------------------------------------------------------------------------------------------------------------------
631 - 640                      183      30,945,028       5.29     7.310      6.477    13.762      7.194       0.52       352
-------------------------------------------------------------------------------------------------------------------------------
641 - 650                      187      35,053,739       6.00     7.271      6.316    13.598      7.004       0.52       346
-------------------------------------------------------------------------------------------------------------------------------
651 - 660                      182      32,617,670       5.58     7.223      6.357    13.419      6.871       0.52       344
-------------------------------------------------------------------------------------------------------------------------------
661 - 670                      143      22,791,071       3.90     7.397      6.738    13.623      7.081       0.52       342
-------------------------------------------------------------------------------------------------------------------------------
671 - 680                      134      23,064,222       3.95     7.175      6.441    13.422      6.865       0.52       342
-------------------------------------------------------------------------------------------------------------------------------
681 - 690                      115      22,087,526       3.78     6.905      6.369    13.405      6.795       0.52       346
-------------------------------------------------------------------------------------------------------------------------------
691 - 700                      107      18,189,523       3.11     6.944      6.351    13.038      6.615       0.52       334
-------------------------------------------------------------------------------------------------------------------------------
701 - 710                       86      16,172,876       2.77     6.967      6.173    13.359      6.688       0.52       349
-------------------------------------------------------------------------------------------------------------------------------
711 - 720                       67      15,011,862       2.57     6.828      6.563    13.400      6.697       0.52       350
-------------------------------------------------------------------------------------------------------------------------------
721 - 730                       65      16,328,163       2.79     6.654      6.541    13.094      6.562       0.52       349
-------------------------------------------------------------------------------------------------------------------------------
731 - 740                       49      11,369,650       1.95     6.569      6.333    13.009      6.423       0.52       350
-------------------------------------------------------------------------------------------------------------------------------
741 - 750                       50       9,872,731       1.69     6.578      6.364    13.011      6.488       0.52       348
-------------------------------------------------------------------------------------------------------------------------------
751 - 760                       33       7,232,326       1.24     6.390      6.192    12.998      6.285       0.52       355
-------------------------------------------------------------------------------------------------------------------------------
761 - 770                       28       7,201,063       1.23     6.590      6.587    12.975      6.502       0.52       354
-------------------------------------------------------------------------------------------------------------------------------
771 - 780                       25       6,203,989       1.06     6.570      6.299    12.979      6.421       0.52       353
-------------------------------------------------------------------------------------------------------------------------------
781 - 790                       19       3,682,903       0.63     6.578      6.443    13.132      6.479       0.52       333
-------------------------------------------------------------------------------------------------------------------------------
791 - 800                        6       1,150,646       0.20     6.467      6.243    12.986      6.345       0.52       359
-------------------------------------------------------------------------------------------------------------------------------
801 - 810                        4         591,338       0.10     6.570      5.787    13.269      6.129       0.52       355
-------------------------------------------------------------------------------------------------------------------------------
811 - 820                        1         229,837       0.04     5.500      0.000     0.000      0.000       0.52       352
-------------------------------------------------------------------------------------------------------------------------------
TOTAL:                        3342     584,523,723     100.00     7.434      6.641    13.864      7.313       0.52       350
-------------------------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------
                                                                             MONTH
                                REM        ORIG      INITIAL    PERIODIC    TO NEXT    PROVIDED     KNOWN      AVG     LTV>80W
FICO SPREADSHEET REQUEST       AMORT       TERM        CAP        CAP         ADJ        LTV        FICOS    BALANCE     MI
-------------------------------------------------------------------------------------------------------------------------------

500 - 500                        358        360       2.909      1.000          24      65.05         500     246,499     0
-------------------------------------------------------------------------------------------------------------------------------
501 - 510                        357        359       2.858      1.350          23      71.70         505     147,485     0
-------------------------------------------------------------------------------------------------------------------------------
511 - 520                        355        358       2.861      1.261          22      72.94         516     156,472     0
-------------------------------------------------------------------------------------------------------------------------------
521 - 530                        354        357       2.873      1.191          22      74.81         526     142,976     0
-------------------------------------------------------------------------------------------------------------------------------
531 - 540                        356        359       2.935      1.186          21      75.09         535     148,968     0
-------------------------------------------------------------------------------------------------------------------------------
541 - 550                        355        357       2.918      1.168          22      74.72         546     144,895     0
-------------------------------------------------------------------------------------------------------------------------------
551 - 560                        354        357       2.872      1.374          21      77.46         555     145,374     0
-------------------------------------------------------------------------------------------------------------------------------
561 - 570                        356        358       2.781      1.252          22      78.09         566     159,555     0
-------------------------------------------------------------------------------------------------------------------------------
571 - 580                        356        358       2.726      1.275          22      79.57         576     173,944     0
-------------------------------------------------------------------------------------------------------------------------------
581 - 590                        356        357       2.832      1.304          21      81.67         585     169,766     0
-------------------------------------------------------------------------------------------------------------------------------
591 - 600                        355        356       2.842      1.330          22      80.16         596     178,208     0
-------------------------------------------------------------------------------------------------------------------------------
601 - 610                        354        355       2.825      1.387          22      81.89         606     163,062     0
-------------------------------------------------------------------------------------------------------------------------------
611 - 620                        355        354       2.762      1.355          22      80.91         615     174,128     0
-------------------------------------------------------------------------------------------------------------------------------
621 - 630                        354        354       2.734      1.333          22      82.84         625     188,021     0
-------------------------------------------------------------------------------------------------------------------------------
631 - 640                        355        355       2.656      1.266          21      82.91         635     169,099     0
-------------------------------------------------------------------------------------------------------------------------------
641 - 650                        356        349       2.635      1.273          23      83.75         646     187,453     0
-------------------------------------------------------------------------------------------------------------------------------
651 - 660                        355        347       2.623      1.302          22      82.77         655     179,218     0
-------------------------------------------------------------------------------------------------------------------------------
661 - 670                        355        345       2.644      1.237          22      83.77         666     159,378     0
-------------------------------------------------------------------------------------------------------------------------------
671 - 680                        355        345       2.611      1.246          22      83.14         675     172,121     0
-------------------------------------------------------------------------------------------------------------------------------
681 - 690                        354        349       2.782      1.244          21      82.26         685     192,065     0
-------------------------------------------------------------------------------------------------------------------------------
691 - 700                        347        337       2.878      1.219          23      82.47         696     169,996     0
-------------------------------------------------------------------------------------------------------------------------------
701 - 710                        352        352       2.455      1.288          22      84.33         706     188,057     0
-------------------------------------------------------------------------------------------------------------------------------
711 - 720                        355        353       2.328      1.321          24      84.62         715     224,058     0
-------------------------------------------------------------------------------------------------------------------------------
721 - 730                        357        352       2.402      1.247          22      83.02         725     251,203     0
-------------------------------------------------------------------------------------------------------------------------------
731 - 740                        356        354       2.336      1.243          21      81.39         735     232,034     0
-------------------------------------------------------------------------------------------------------------------------------
741 - 750                        355        351       2.642      1.248          24      82.03         745     197,455     0
-------------------------------------------------------------------------------------------------------------------------------
751 - 760                        356        359       2.266      1.293          21      81.20         756     219,161     0
-------------------------------------------------------------------------------------------------------------------------------
761 - 770                        355        356       2.333      1.250          23      81.15         764     257,181     0
-------------------------------------------------------------------------------------------------------------------------------
771 - 780                        355        355        2.39      1.270          25      79.54         774     248,160     0
-------------------------------------------------------------------------------------------------------------------------------
781 - 790                        350        336       2.436      1.332          24      80.90         786     193,837     0
-------------------------------------------------------------------------------------------------------------------------------
791 - 800                        359        360       2.836      1.321          27      78.48         795     191,774     0
-------------------------------------------------------------------------------------------------------------------------------
801 - 810                        355        360        2.14      1.287          27      82.30         804     147,835     0
-------------------------------------------------------------------------------------------------------------------------------
811 - 820                        352        360           0      0.000           0      79.99         817     229,837     0
-------------------------------------------------------------------------------------------------------------------------------
TOTAL:                           355        353       2.709      1.284          22      80.76         629     174,902     0
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